MONDAY 9TH OCTOBER 2023

Corporate Icon, Chris Ogunbanjo, is Dead, Tinubu Mourns

Deji

Elumoye in Abuja and Wale Igbintade in Lagos

President Bola Tinubu has expressed condolences to the Ogunbanjo family and the entire Ijebu-Ode community over the passing of their patriarch, elder statesman and corporate icon, Dr. Christopher Oladipo Ogunbanjo,

who made landmark contributions as one of Nigeria's most celebrated corporate lawyers. Ogunbajo died at the age of 99. His death was confirmed yesterday by one of his sons, Senate Tokunboh Ogunbanjo, who described the death of the late sage, as the end of an era

Christopher Oladipo Ogunbajo was born on December 12th, 1923 in Ijebu Ode, Ogun State, Nigeria. A terse statement issued by senator Ogunbanjo read: "With gratitude to God Almighty, we announce the passing into glory of our great Father who lived for the children, the family, the Church,

the community, and the entire Nation - Chief C. O. Ogunbanjo, OFR, (The Great Baba Ijo of the Church of the Epiphany, Erunwon) as he passed into glory yesterday night, 7th October, 2023.

Adieu Baba Chris Ogunbanjo"

The president, according to a statement issued yesterday, by his Media Adviser, Ajuri Ngelale, joined family members, colleagues, friends, and well-wishers of the late legal luminary in mourning the loss of a

"May his gentle soul rest in perfect peace, and may the good Lord comfort the family he left behind. Continued on page 6

Betta Edu Talks Tough, Says FG Schemes Under Her Watch Will No Longer Be Business as Usual...Page 10

www.thisdaylive.com

Tinubu Unveils

Ambitious Plan to Create 500,000 Jobs as Ajaokuta Rolling Mill Nears Completion

L-R: Executive Director, VFD Group Plc, John Okonkwo; Non-Executive Director, Kelvin Orogun; Group Managing Director/ CEO, Nonso Okpala; CEO, Nigerian Exchange Limited (NGX), Temi Popoola; Chairman, VFD Group, Olatunde Busari SAN; Chairman, NGX Group, Alhaji

Deji Elumoye in Abuja and Ibrahim Oyewale in Lokoja President Bola Tinubu has declared

Umaru

during the listing of VFD Group Plc's shares on the Main Board of the NGX in Lagos…recently

Continued on page 6

Atiku: No Matter New Attempts to Twist Facts, Tinubu’s INEC Certificate is Forgery

Advises president to

Chuks Okocha in Abuja

Former Vice President and Peoples Democratic Party (PDP) presidential candidate in the February 25 elections, Atiku Abubakar, has said, no matter how hard President Bola Tinubu and his agents try to twist the facts, the president remained guilty of forgery.

Atiku, who also alleged that some of the president’s aides had commenced a campaign of propaganda to further confuse Nigerians about the forgery allegations against the president, however, advised Tinubu to tread the path of honour by resigning from his office.

At the same time, Atiku has alleged that the Tinubu administration had already perfected an elaborate and sinister plot to gag the media ahead of the release of the records containing his criminal investigations by the Federal Bureau of Investigation (FBI).

Continued on page 6

tread path of honour by resigning Alleges plan to gag media ahead of FBI’s release of files

APC GOVERNORSHIP CAMPAIGN AND PRESENTATION OF FLAG TO ODODO…

L-R: Chairman, All Progressives Congress National Campaign Council for Kogi State Governorship Election, Governor Dapo Abiodun; Vice President Kashim Shettima; Governorship Candidate of the APC in Kogi State, Usman Ododo; National Chairman of APC, Abdullahi Ganduje; Kogi State Governor, Yahaya Bello, and Rivers State APC Governorship Candidate, Tonye Cole, at the official flag-off of the Kogi State APC Governorship Campaign and Presentation of flag to Ododo, in Lokoja…yesterday

Ogunbanjo

(Dr)

Kwairanga,

Fitch: Why Nigeria Needs to Streamline Its Telecoms Tax Landscape

Says different rules in force across states, with 46 separate taxes

Emmanuel Addeh in Abuja

Despite Nigeria’s positive move in abandoning the proposed telecoms tax increase in July 2023, the sector's tax obligations remain operationally complex, BMI, a Fitch Solutions company, has said.

The global firm stated that this had made the sector expensive to navigate, especially for operators looking to modernise the country’s digital infrastructure.

To address this challenge, the report stated that operators had voiced the possibility to abandon the existing nationwide tariff structure and adjust retail prices for calls, data and Short Message

Service (SMS) services based on the user's location. Coupled with high inflation, the price adjustments, it said were likely to impact consumer confidence leading to unease among the public and confidence in the sector.

The report recalled that Fitch had previously outlined the positive implications of abandoning additional tax regimes on telecom regulators in July 2023.

The taxation system as it applies to the sector, the research firm said, remains complex, with different rules in force across the states and 46 separate taxes applying to operators in the market.

In November 2019, the government had launched the National Digital Economy Policy and Strategy (2020-2030), aimed at promoting digital technologies and diversifying the economy away from its historical dependence on the oil and gas sector.

According to the agency, Nigeria however, scores 63.1 out of 100 points in the Sub-Saharan Africa Telecommunications Industry Risk Index, above the regional 45.4-point average.

On the upside, the National Communications Commission (NCC), it noted, facilitated a smooth 5G auction process, pushing the digitalisation objective

and welcoming a new player into the market, It stressed however that the high spectrum prices of up to $274 million per operator - had added debt to already impacted balance sheets.

Fitch stated that taxation adds to operators' concerns, but explained that nevertheless, the market achieved a 54.1-point overall rewards score, above the 41.3-point regional average.

According to Fitch, this was based on the growing youth population keen to utilise premium data and mobile banking services that are a critical source of revenues to operators.

“Our Country Risk team believes that the rising cost of living in Nigeria will increase the risks of economically disruptive protests and strikes over H2, 2023.

"While the government will adopt support packages to cushion households and businesses from decade-high inflation, these measures will fall short of demands set forth by Nigeria’s powerful trade unions.

“Despite an anticipated increase in strike activity, we do not believe that the President Bola Tinubu administration will re-introduce the fuel subsidy, and we expect reform momentum to remain strong as the new president consolidates

ATIKU: NO MATTER NEW ATTEMPTS TO TWIST FACTS, TINUBU’S INEC CERTIFICATE IS FORGERY

In a statement by his Media Adviser, Paul Ibe, Atiku said, "Since Tuesday last week, when the deposition regarding President Bola Tinubu’s educational qualifications came to the fore in the United States, there have been several attempts to twist the facts of the matter, which deliberately aim to confuse the mind of the public concerning the matter.

"Some media aides to the president have come out openly to ‘push back on the narrative’, while some media houses, especially one, have persistently slanted their story to justify a corrupted interpretation of the facts in the disposition.

"Sadly, however, the truth of the matter remains that Nigeria’s President, Bola Tinubu falsified a document he submitted to the Independent National Electoral Commission (INEC) and swore an affidavit under oath to back up his forgery.

"On page 26 of the deposition, which is publicly available, the Registrar of the Chicago State University, Caleb Westberg, under oath, was asked a simple question that, ‘CSU has determined that it does not have a true and correct copy of the diploma issued to Bola Tinubu in 1979, correct?

“To which the Registrar responded, ‘that’s correct.’ Also, on page 27, a similar question was put to Mr. Westberg: ‘So, CSU, after going through every diploma, was unable to find an authentic copy of any diploma that CSU issued to Tinubu in 1979. Is that correct? The CSU Registrar, in his response, said: ‘We did not find any diploma issued by CSU in 1979 to Mr. Tinubu,” he said.

The former vice president added that, "And coming straight to the specific issue of whether the CSU is aware of or in possession of the diploma that Tinubu submitted to INEC, to which Mr. Westberg simply said, ‘Correct, we are not aware of it.

"Indeed, anyone who has taken time to do a thorough reading of the deposition will come to the unambiguous conclusion that the footprints of Tinubu’s odyssey as far as the CSU documents concerned are

CORPORATE ICON,

distinguished figure in Nigeria's legal and business communities, whose multifaceted roles as an industrialist, corporate lawyer and philanthropist had left indelible impressions in these important fields as he empowered and mentored numerous professionals from Nigeria and beyond.

As an honoured recipient of several prestigious chieftaincy titles, including Olotu of Ijebuland, Larinja of Egbaland, Gbadero of Lagos, Lerinja of Egbaland, Baba Oba of Ijebu Imusin, and Baba Oba of Erunwon Ijebu, President Tinubu paid tribute to Pa Ogunbanjo for consistently dedicating himself to championing causes close to his heart, including grassroots community development and advocacy for peaceful co-existence between Nigerians from diverse backgrounds.

The president urged all who are mourning this elder statesman, whose life was characterised by an exceptional commitment to philanthropy and the betterment of

filled with profound forgeries and abuse of administrative due process.

"President Tinubu’s supporters and spin doctors will want to force the narrative of, at least, ‘Tinubu graduated from the CSU down our throat, even when the narrative has no foothold in logic."

Accordingly, the former vicepresident said, the question remained that, "How does a candidate graduate from a university that you were never qualified for?

"According to information in the open, President Tinubu applied to the CSU with a pre-qualifying 1970 certificate from Government College Lagos, whereas the school did not come into existence until 1974. Maybe this should make Tinubu the first man ever to have an anticipatory certification from the school four clear years before the founding of the school.

"Another mystery is that in addition to the non-existing Government College Lagos certificate, Tinubu presented a certificate from another school in the United States that belongs to a female candidate and a Cambridge HSC of 1970 – the same year he purportedly graduated from a secondary school in Nigeria.

“Long before the CSU discovery of last week, Tinubu, has had a history of forgery and perjury. In his form CF001, he filed ahead of his governorship election in 1999, Tinubu had claimed albeit fraudulently that he attended St John's Primary School Aroloya, Government College Ibadan and University of Chicago as different from Chicago State University. The late lawyer and human rights icon, Gani Fawehinmi, would have succeeded in bursting him but for the immunity he enjoyed as Governor of Lagos State. President Tinubu must be a man of mystery. No wonder his supporters call him Idan (a distorter)."

The PDP presidential candidate said, it was his contention that at the heart of the forgery scandal against President Tinubu was the question of integrity and morality.

He said, "If the president would not do what is honourable by resigning from office and saving the country an

CHRIS

imminent embarrassment, at least his supporters should desist from telling shameful lies to confuse the public.”

Atiku said while supporters of the president were quick to reference his transcript from the Chicago State University as evidence of his studentship in the school, the former vice president said, "we are alarmed how his NYSC certificate bears Bola Adekunle Tinubu, even when the CSU said under oath that the middle name of ‘A’ was never interpreted in any document in his file.”

Atiku, however, maintained that, "Every Nigerian, who has undergone the NYSC programme understands that the names on the NYSC are never a creation of the candidate, but the official name that the student was officially known as, from their tertiary institution.

"Tinubu was allegedly never known as Adekunle at CSU. Thus, the only way to understand how Adekunle was smuggled on his NYSC discharge certificate can only be explained as a forgery. Yet, his media aides will come to the open to make a shameful alternative fact.

"It is even more shameful that just when this whole scandal continues to unfold, media handlers of President Tinubu have, from nowhere, smuggled a middle name of Adekunle into his Wikipedia account. The word Adekunle in Yoruba is a house filled with royalty. But in this instance, we daresay it is a house filled with forgeries.

"It is, therefore, becoming very obvious that there is no end point to how President Tinubu and his spin doctors will continue to use one forgery to cover the other," Atiku stated.

To this end, Atiku has raised the alarm that the Tinubu administration had already perfected ‘an elaborate and sinister plot’ to gag the media ahead of the release of the records containing his criminal investigations by the FBI.

In a statement by his Special Assistant on Public Communication, Phrank Shaibu, Atiku said the Tinubu administration had become frustrated with the Chicago State University

scandal that it was planning a massive offensive in the coming days.

Atiku explained that the threat by the National Broadcasting Commission (NBC) to sanction the Arise News Television was only a tip of the iceberg.

He said the NBC had been watching as Tinubu’s media platforms like Television Continental (TVC) had been constantly attacking Atiku and had refused to even air opposition views.

“Back in February, the NBC tried to show a bit of fairness and fined TVC for unprofessional broadcasts including the airing of the Joint media Directorate of the APC Presidential Campaign Council press briefing, where Festus Keyamo said Obasanjo and Atiku ran a criminal enterprise, and an empire of fraud in Abuja.

“However, since Tinubu became president on May 29, the NBC has become more partisan than ever. The NBC boss, Balarabe Ilelah, is obviously seeking to retain his appointment and is now dancing to the tune of the APC and their master at the Presidential Villa.

“The NBC has now been co-opted into a grand plot to gag the media over Tinubu’s certificate scandal. Having lost the battle in the court of public opinion, they are now trying to use the powers of the state to browbeat the media into silence. This is indeed shameful for a man, who claimed to be a hero of the June 12 struggle.

“But this is not the time for the Nigerian media to show any weakness. The trove of documents that the FBI is set to release this month will expose details of the investigation that tied Bola Tinubu to heroin trafficking.

“The dissemination of this information must not be left to social media alone. The media must rise up to its role as the watchdog of society as enshrined in Section 22 of the 1999 constitution,” saying the hypocrisy of the Tinubu government and the APC-led Senate was legendary.

He noted that a ministerial nominee from Delta State, Stella Okotete, a director at NEXIM Bank, was denied ministerial confirmation over alleged certificate forgery even though the lady in question had tried

OGUNBANJO, IS DEAD, TINUBU MOURNS

the country, to reflect on the extensive contributions he had made to the progress of humanity and to carry forward the ideals he lived for.

According to Tinubu: "Chief Chris Ogunbanjo will be remembered for his extraordinary life of service to his community and the promotion of best business practices as a corporate lawyer of untarnished repute. His contributions to the economic development of Nigeria and commercial law practice in our country will endure."

The president prayed for the peaceful repose of Pa Ogunbanjo's soul and divine comfort to his family and loved ones over this irreparable loss.

Ogunbajo was born on December 12th, 1923 in Ijebu Ode, Ogun State, Nigeria. He is a corporate lawyer, business man and philanthropist. He was born in Erunwon-Ijebu into one of the most prominent families in that human settlement, the Ogunbanjo family.

His father was a Headmaster, a Deacon and later became a very prominent Pastor and Canon around the Old Western Region. The mother, the late Madam Towobola, hailed from a neighbouring village, IjebuImushin.

He attended St. Phillips Primary School, Aiyetoro, Ile-Ife before proceeding to Oduduwa College, Ife for his secondary education in 1936. In 1938, he moved to the prestigious Igbobi College in Lagos where he completed his secondary education. He obtained a degree in law in 1949 and was called to bar a year later.

Ogunbanjo began his legal practice in 1950 as a Partner in a law firm then known as Samuel, Chris & Michael (made up of the late Chief Samuel Akintola, former Premier of Western Nigeria, Chief Christopher Ogunbanjo and late Justice Michael Odesanya) whose offices were situated at Tinubu Square in the heart of Lagos.

After the dissolution of the

partnership in 1960, he created Chris Ogunbanjo & Co; a commercial law firm considered to be the building platform for many successful luminaries in Nigerian legal practice.

Ogunbanjo employed his profession, law, as a veritable instrument of change in the Nigerian Legal, Corporate, Industrial and Management Practice. Within a few years of specialising in Corporate Law, he was spotted and appointed “Retainer-Solicitor” to the NIDB Project by the Federal Government and International Finance Corporation.

He was also part of several top companies such as West African Batteries, Metal Box Toyo, Union Securities, 3M Nigeria, ABB Nigeria, Roche Nigeria and Chemical and Allied Products Limited.

Ogunbanjo got married to his wife, Hilda Ladipo in 1953. She was editor of AMBER, a women's lifestyle magazine established in the 1960s. He has his home in Lagos State.

his authority.

“The July 2023 abandonment of the telecoms tax hike signals that the president is unlikely to increase the tax in short-term. Our Country Risk team also believes that the administration will look to streamline tax administration and processes, but whether this will go as far as telecoms - which is now a major source of income for the treasury - remains uncertain,” the report added.

But Fitch pointed out that the price hikes however, are likely to add to the public unrest in the country as recently evidenced in Burkina Faso and throughout the Sub-Saharan Africa region.

so much to defend herself.

He, however, wondered why the standard for the president was lower than that of a ministerial nominee and the youngster, Mmesoma Ejikeme, who forged her JAMB results from a third party vendor.

Shaibu said: “Okotete claimed to have graduated from Benson Idahosa University in 2007 with a second class lower grade in International Studies and Diplomacy and completed the compulsory National Youth Service Corps (NYSC) from Kebbi State in 2009.

“However, amid allegations

of certificate forgery, the Senate refused to confirm her while the authorities continued to investigate her. But in the case of Tinubu, who holds the highest office in the land, they want Nigerians to overlook it. They are asking Nigerians to focus on governance instead.

“Isn’t it ironic that the bar has been lowered for the office of the president? Is it not mind-boggling that people, who would not employ even third glass graduates in their private companies are the same ones now defending certificate forgery? The hypocrisy is indeed disturbing.”

TINUBU UNVEILS AMBITIOUS PLAN TO CREATE 500,000 JOBS AS AJAOKUTA ROLLING MILL NEARS COMPLETION

that with the hitherto abandoned Ajaokuta Steel Complex now nearing completion, the project would have the capacity to employ 500,000 Nigerians once designated as a free trade zone.

The president further promised to fully harness the potential of the infrastructure once it was completed, as it would boost Nigeria's foreign direct investment and provide avenue for the creation of the much-needed conducive business environment for all sectors to thrive.

Vice President Kashim Shettima, who represented the President, made this known yesterday, at the flag-off of the All Progressives Congress (APC) governorship campaign in Lokoja, the Kogi State capital.

The governorship poll in the state is slated for November 11.

Addressing a mammoth crowd in Lokoja, Shettima also noted that the President remained committed to completing the constructions of the River Niger, the Kabba-Lokoja and the Abuja-Lokoja roads.

According to the vice president, Tinubu remains a man of many ideas who was determined to reposition the nation in its rightful place, especially as it borders on restructuring and stimulating the Nigerian economy.

"Given Mr. President's commitment to the development of Kogi State and indeed the entirety of Nigeria, Kogi in particular being a confluence state, cannot afford to have a governor who is hostile to the center. We must be partners in progress and work hand in hand to develop this great nation," Shettima said.

He further hinted about plans by the Tinubu’s administration to make the Itakpe crop processing project a dream come true, just as he promised jobs and affordable education under the present government.

Stressing that the welfare of the citizenry would never be willfully compromised, the vice president called on Kogi citizens to come out en masse on November 11, to vote for the candidate of the APC, Ahmed Usman Ododo, in order to consolidate on the achievements of the APC government in the state.

He added that the natural endowments of Kogi State would be harnessed for the development of the state and the nation at large, adding that Tinubu had further given his nod for the rehabilitation of

Obajana-Okene road in Kogi State. Speaking earlier, Kogi State Governor, Alhaji Yahaya Bello, thanked Tinubu for accepting to flag off the governorship campaign in his state, disclosing that his administration has achieved a lot, and it is time for consolidation in order to move the state forward. His words: "We have done a lot in the area of security, education and health, among others. We want to consolidate on that. I am, therefore, calling on the people of our dear state to vote for our candidate in order to move Kogi State forward".

Also speaking, APC National Chairman, Dr. Abdullahi Ganduje, said because Bello has provided good governance to the people of Kogi, the state cannot afford to be left behind by giving power to another party different from the one at the center.

On his part, Chairman of the APC Campaign Council for Kogi State, Governor Dapo Abiodun of Ogun State, enjoined the people of Kogi State to clean up their voter cards and turn out in numbers to vote for the candidate of the APC in the November 11 governorship election.

In his remarks, Kogi State APC governorship candidate, Ahmed Ododo, pledged to carry the people of the state along if elected, saying he remained committed to the development agenda of Kogi State. "We will build on the legacies of my mentor, Governor Yahaya Bello. We will give attention to security, education, agriculture and health. Our women will also be empowered," he said.

The vice president's engagements in Kogi had started with an audience with traditional rulers and other stakeholders of the state ahead of the November 11 governorship election.

At the audience with the stakeholders, Shettima also solicited support for the APC candidate in the forthcoming election.

Responding on behalf of his colleagues, the President, Kogi State Traditional Council and the Attah of Igala, HRH Mathew Ipaluwa, pledged their support for President Bola Tinubu.

The royal father commended the state governor, Yahaya Bello, for working hard in addressing security challenges in the state.

SIGNING OF THE JOINT VENTURE AGREEMENT...

Upstream Operators Urge FG to Address Fiscal, Security, Regulatory Bottlenecks to Enhance Investment in Oil Sector

Peter Uzoho

For the umpteenth time, operators in the upstream segment in the Nigerian oil and gas industry have reechoed the need for the government to take urgent steps towards solving the fiscal, security, regulatory and other issues discouraging investments and operation in the nation's petroleum sector.

Some of the operators who spoke at the just-held 2023 Annual International Strategic Conference of the Association of Energy Correspondents of Nigeria (NAEC) in Lagos, stated that Nigeria at this time needed to take measures that would push its oil and gas production to a minimum of three to four million barrels per day (bpd) and three billion cubic feet (bcf), respectively.

The theme of the conference was, "Nigeria's Energy Transition: Enhancing Investment Opportunities and Addressing Challenges in the Oil and Gas Sector."

Speaking during a panel session at the event, the General Counsel/ Company Secretary of the Nigeria Liquefied Natural Gas Limited (NLNG) and President of the Nigerian Gas Association (NGA), Mr. Akachukwu Nwokedi, opined that the fundamental issues of insecurity, assets vandalisation and community unrest must be addressed to make Nigeria an investor destination.

Nwokedi, also emphasised the need for the sanctity of contracts

and a properly structured fiscal framework to encourage investors, saying the recent memorandum of understanding (MoU) signed between the Nigerian Content Development and Monitoring Board (NCDMB), the Nigerian National Petroleum Company Limited (NNPC) and the five international oil companies (IOCs) to shorten contracting cycle must be replicated across board.

Admitting that the Petroleum Industry Act (PIA) has done a lot to bring good fiscal terms to the industry, he, however, contended that there was a need to focus more on implementation of the Act in a manner that restores investors’ confidence, boost oil and gas production and ultimately increases the country's earnings.

He stressed the need to streamline the regulatory environment in order to make the process of activating investment from project delivery, production all the way to the market smooth.

According to Nwokedi, the contracting cycle in the industry needed to be streamlined, adding that petroleum industry regulators need to change, as they can be overreactive and discouraging, leading to threats to investors.

“Investors need an enabling framework and the government should test regulations against investment coming into the country to ensure their viability. Some

regulators must set KPIs to attract the right investment and increase production output," he noted.

In his intervention, the Executive Chairman of AA Holdings and Pioneer Chief Executive Officer of Seplat, Mr. Austin Avuru, stated that Nigeria would need about $25 billion of annual investment in the next 10 years to achieve crude oil output of three to four million barrels per day and three billion cubic feet per day of domestic gas production.

Avuru, suggested that Nigeria should focus more on energy security and optimising the value of its oil and gas resources before committing to its energy transition

agenda.

He explained that the energy transition agenda was a lot more serious than an issue that has to do with carbon emissions in the country.

He added that the country should have achieved domestic gas production of four billion cubic feet per day between now and 2030.

Avuru stated, “By 2030/2050, when we say gas is our transition fuel, Nigeria should have retained the value of the crude oil and gas resources and thereby be in the right standing to position itself for the energy transition agenda in 2030 and 2060.

“However, Nigeria is, unfortunately, doing the opposite at a time when it should be doing 3 mbpd of crude oil, we are doing less than 1.2 mbpd.

“At a time when domestic gas production should be heading towards 3bcf per day, the country has stagnated at 1.1bcf per day for the past five years. This is happening because investment has not come into the sector since 2012.

“Our average investment in the sector had peaked between 2011 and 2012 at about $22 billion per annum. It has tapered down to about $5 billion per annum."

He maintained that even if Nigeria has the cash to achieve

the four million barrels and three billion cubic feet daily production in 10 years, the country would still have to possess the technical and execution capacity to achieve the kind of production level that the country desires.

“Where are the rigs and the service companies with the capacity to achieve this goal? There is a lot of deep thinking that has to go into this process.

“We have to reconstruct our energy transition agenda, otherwise Nigeria and Venezuela would be the two countries with both oil and gas resources stocked to the ground when the rest of the world has moved on,”Avuru added.

NNPC: Pipeline Contract Transparent, Wasn’t Quietly Awarded to Northern Cabal

Emmanuel

The Nigerian National Petroleum Company Limited (NNPC) yesterday debunked reports that its Group Chief Executive Officer, Mele Kyari, ‘quietly’ awarded pipeline contracts to a ‘ Northern Cabal’ without due process. The reports had insinuated that Kyari gave ‘juicy’ rehabilitation contracts of the nation’s pipelines to

four oil companies that include two downstream retailers, a move they said was tantamount to handing the retailers favourable control of the pipelines. According to the imputations, A.A.Rano Nigeria Limited and MRS Oil Nigeria Plc, two retail businesses owned by two northerners, Auwalu Rano and Sayyu Dantata, respectively, got the highly coveted contracts.

UBA Grooms Future Professionals Across Africa in Graduate Mgt Programme

The United Bank for Africa (UBA)

Plc has held the maiden edition of its expanded Graduate Management Accelerated Programme(GMAP) where over 700 graduates were inducted into the UBA Tribe after a rigorous 6-month hands-on-work and learning experience.

The Chartered Institute of Bankers of Nigeria’s (CIBN) accredited programme which was adopted from the globally recognised Graduate Training Programme, according to a statement from the bank yesterday, was aimed at building capacity of fresh graduates who were trained as professionals for accelerated career growth to leadership and key positions.

The graduands, from across its 19 African subsidiaries, completed an intense capacity-building programme,

combining learning with on-the-job training experience, garnered while rotating across the bank departments and units.

The Chairman of UBA, Tony O. Elumelu, who spoke about the importance of prioritising human capital development, commended the robust programme that churned out bright and promising professionals, poised to take the bank to another level.

“It is important to develop platforms for people to grow. We would love to see our future CEO’s from this programme and I hope that the enthusiasm, excitement, and energy I see and feel in this room today translates into the greatness we anticipate so that these young bright professionals can help take UBA to the next level,” Elumelu said

“UBA is giving opportunities to young Africans, by addressing unemployment on the continent. Employment of these large numbers of young people at this time explains the role our Bank is playing in engineering growth and development across Africa,” he said Speaking at the event, Group Managing Director, Oliver Alawuba said that the bank’s future was guaranteed considering the quality of the graduands produced and the commitment shown by participants over the course of the programme.

“I have observed, with pride, the dedication, resilience, and unwavering commitment shown by all participants of the GMAP program and delighted. The role of participants is pivotal in providing the much-needed resource required

to make the participants of the programme successful as they kick-start their careers.

“In UBA, we give everyone equal opportunity to achieve their dreams, irrespective of age, tribe, gender, and background. the transformation of our dear continent, Africa, is very important to our vision.

To achieve this mandate, we need believers, doers, and agents of transformation. Today, you have become an instrument that will transport our countries and continent to the new world order,” Alawuba said.

UBA is a leading pan-African financial institution, offering banking services to more than 37 million customers across 1,000 business offices and customer touch points in 20 African countries.

But in a statement last night, the national oil company stated that there was no underhand dealings in the award of the contracts.

“It is crucial to provide accurate information to address any misconceptions and ensure transparency in our operations. We would like to state categorically that these reports are fallacious and designed to bring the good name of the company into disrepute.

“NNPC Limited is deeply committed to adhering to the highest standards of transparency and global best practices in all our activities, and this includes our contracting process.

“These contracts, which were advertised, were awarded based on rigorous evaluation criteria and in line with industry norms,” it stated.

To re-emphasise its commitment to transparency, NNPC said it subjected the selection process to a competitive tender guided by the Bureau of Public Procurement (BPP) standards, Infrastructure Concession Regulatory Commission (ICRC) expertise, and the active involvement of a Transaction Advisor.

The NNPC further stated that it also had representations from NEITI and the Ministry of Justice in the project development team and the evaluation exercise.

Stressing that the composition of consortium members per lot spread across Nigeria, it explained that for instance, LOT one had Oilserv Ltd, Chu Kong Steel Pipe Group

Company Ltd and Saudi Crown Oilserv.

For LOT two, it noted that it was awarded to MacReady Oil and Gas Services, COBRA Instalicios S.A, Control Y Montajes Industriales & International De Pipelines, Iron Products Industries Ltd and Batelitwin Global Services Ltd. Others on the lot were: Bauen Empresa Constructora SAU, Sanderton Energy Ltd and the Spanish National Association of Manufacturers.

Besides, the NNPC stated that LOT three was awarded to A A Rano, Zakhem Construction Nigeria, Bablinks Resources Ltd and VAE Controls S.R.O while LOT four had MRS Oil and Gas as well as CPPE Nigeria Ltd.

“It is imperative to emphasise that these contracts are Build, Operate and Transfer (BOT) agreements, and selected partners are to finance the rehabilitation and do not entail the transfer of control of these assets to any particular company.

“Our objective is to enhance the integrity and functionality of the pipelines to facilitate the efficient transportation of crude oil to refineries and the distribution of its products across the country.

“The ownership of these strategic national assets remains with NNPC Limited, and we are fully committed to ensuring their continued operation in the interest of over 200 million Nigerians,” the statement added.

L-R: Directors, H&YZ Furniture, Azeezat Musa Sadiq, Kamarudeen Oladosu, Nabil Hawat, and Youssef Kaoussaifi; Chairman, H&YZ Furniture, Mrs Feyisola Abiru, and Legal Adviser and Partner, G Elias, Prof. Gbolahan Elias, at the signing of the Joint Venture Agreement between Home and You Limited (H&Y Furniture Manufacturers) and Zinaline Zarl and Ecowood Manufacturing Limited in Lagos... recently

Addeh in Abuja

Betta Edu Talks Tough, Says FG Schemes Under Her Watch Will No Longer Be Business as Usual

Seeks audit of N-Power Programme

Adedayo Akinwale in Abuja

The Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, yesterday, stated that it would no longer be business as usual with regards to humanitarian schemes meant to alleviate the sufferings of the Nigerian people.

In a statement signed by the National Programme Manager, Dr. Akindele Egbuwalo, the Minister's declaration was against the backdrop of discoveries made after the preliminary investigations over how the N-Power programme was run in the past years.

In ensuring transparency and due diligence, the Minister however called off the programme across the country, with a promise that the audit would lead to an expanded programme that would eventually accommodate more less privileged Nigerians.

The statement read in parts: "This action has become necessary to give room for a detailed investigation into the operations of the N-Power in the last twelve months. The total number of persons on enrolled on NPOWER since inception to date is 960,000 people. Most of them have exited from NPower 1.0 and NPower 2.0 batch A and B

"There is a need to audit the number of people in the programme, those who have exited the program, those who are being owed, whether the reported to work or not and how funds have been utilised over this period of time.

"Recently, we discovered instances of programme beneficiaries whose participation has lapsed since 2022 but have remained on and continue to expect payments from the government.

“In addition, some

Edo Unveils Plans for 2023 Alaghodaro

The Edo State Government has unveiled plans and programme of activities for the seventh edition of the Alaghodaro Investment Summit, organised yearly by the private sector in the State to mark the anniversary of Governor Godwin Obaseki-led administration.

In a statement yesterday, the Chairperson, Local Organising Committee and Executive Secretary, Alaghodaro Economic Summit Limited/Gte, Eire Ifueko Alufohai, said the five-day event will spotlight the groundbreaking policies and remarkable reforms implemented by Obaseki’s administration that have transformed the lives of millions of Edo people and ensured economic prosperity for the State. She said the 2023 edition of the summit, with the theme, “The Edo Story: Creating Shared Opportunities into the Future,” will take place between Wednesday, November 8 and Sunday, November 12, 2023, in Benin City, the Edo State capital.

According to her, the event would also serve as a platform for investors, government officials, business leaders, and other key stakeholders to engage in meaningful discussions, explore partnerships, and envision a prosperous future for Edo State.

Alufohai listed some of the activities to include; Edo Women Conference, Ancient City Tour, Cocktail, Summit, Muslim Prayer, Award Night/Dinner, Governor’s Golf Tournament, Food and Fun Fair, Youth Summit, and Thanksgiving Service.

She noted, “This year’s edition of the Alaghodaro Investment Summit promises to be a rollercoaster of excitement and discovery voyage, being the last summit that will be celebrated under the leadership of our performing Governor, His Excellency, Mr. Godwin Obaseki.

“With the theme ‘The Edo Story: Creating shared opportunities into the future,’ the summit will focus on the numerous achievements of the Obaseki-led government over the past seven years, highlighting how the government has harnessed strategic partnerships across various sectors to build a solid socio-economic base that is now positively impacting the lives of Edo people.”

Alufohai further noted, “The activities lined up for this year’s summit 2023 include the Edo Women Conference scheduled for Wednesday, November 8, 2023, which will be followed by Ancient City Tour and Cocktail on Thursday, November 9, 2023.

beneficiaries must honour their obligation to the programme: They do not report to their places of primary assignments as required but still receive monthly payments. Some have other jobs and have left this bracket but are still benefiting from the payments, while those who truly worked are not paid

"These instances have made the need for a thorough audit imperative, as we also look into claims of those being owed for up to eight to nine months' stipends to ascertain the veracity of their claims.

“The graduates & nongraduate volunteers Batch C1 & C2 are in this category. We want to establish the exact number

of people owed and the total amounts, thereby eliminating ghost beneficiaries.

"Preliminary findings of our audit have shown that some consultants are holding on to beneficiaries' funds disbursed to them long ago even when their contract ended in March 2023 without any renewal. “We condemn this practice and will not tolerate it going forward. Work is ongoing to identify those involved, understand why the payments didn't get to the final beneficiaries, and recall the funds to pay those owed.

"We appeal to Nigerians to understand the rationale behind the temporary suspension and investigation of the programme

as we work to restore the nation's confidence in the programme and for the new N-Power to serve Nigerians better. Things have to be properly done for us to move forward.

"This restructuring and transformation will also birth an expanded programme to reach beneficiaries aged 18-40 (the previous age limit was 35). We are targeting five million beneficiaries in five years at a pace of one million per year under the graduate and nongraduate stream.

"In addition, the restructuring will accommodate some new programmes, in education, health, works, agriculture, technology, fashion,

entertainment and other relevant areas of skill acquisition and employability.

"To earn the confidence of Nigerians in the expanded programme, transparency and accountability will be the benchmark. It shall no longer be business as usual as we make concerted efforts to put the nation on the right footing, ensuring that no one directly or indirectly unleashes suffering on Nigerians.

"We assure all beneficiaries with genuine claims that we will resolve their cases once we complete the verification exercise and honour all valid outstanding obligations. Nobody will be owed."

Decades After, Only $1bn of Proposed $80bn Spent on Gas Projects in Nigeria, Say CSOs

Emmanuel Addeh in Abuja

After several decades of planning, only $1 billion of the proposed $80 billion meant to exploit Nigeria’s gas-to-power resources, has so far been committed to projects, the African Initiative for Transparency, Accountability, and Responsible Leadership (AfriTAL) and the Natural Resource Governance Institute (NRGI), have stated.

In a communiqué issued at the end of a policy dialogue on Nigeria’s gas plan held in Abuja, the civil society organisations (CSOs) recalled that in 2021, Nigeria declared the decade of gas to illustrate its commitment to gas expansion, but noted that not much had been achieved since then.

Both organisations led by Dr. Louis Ogbeifun, Executive Director of AfriTAL and Tengi George-Ikoli, Senior officer, NRGI, said 10 critical projects had been listed as being critical to achieving the Decade of Gas Policy from 2021 to 2030.

“There is dwindling financing for natural gas projects globally, posited to be based on a preference for environmentally sustainable and climate-friendly projects.

“A reflection of this is the

fact that out of the several gasto-power projects (estimated at $80 billion) that are planned to be established in Nigeria, only $1 billion has been committed to these projects, with the other projects being in negotiation stages, facing several challenges for many years.

“Another dimension to the drop in financing is the increased risks of gas projects to infrastructure lock-ins and stranded assets, non-profitability and bankability of gas projects, and other technical issues.

“Against this backdrop, there is a need to adopt an approach that focuses on one or two profitable brown gas projects rather than the 10 planned to ensure there could be some marginal success,” the groups recommended. The CSOs admitted that financing gas projects will be difficult; but however said, all hope was not lost.

Options for funding, they said, included international development banks and the opportunities offered by the ideation of the novel African Energy Bank.

Also, the CSOs stated that there was the need to provide appropriate risk evaluation of the projects to help allocation of credits for project funding.

They noted that financing for gas needed to be brought up at COP28 through advocacy for funding technologies that can reduce the emissions capacity of natural gas.

Stressing that clean cooking gas remains a viable method to drive up natural gas consumption in Nigeria’s domestic market, AfriTal and NGRI, said there was the need to clarify the end-to-end process for using clean cooking fuels in Nigeria.

“Gas as a feedstock for blue hydrogen production is another option that can be explored to drive up natural gas demand,” the communiqué added.

However, the groups acknowledged that natural gas expansion plan may conflict with the interests of local communities if expansion proceeds under the current environmental regulatory regime.

According to the groups, research has shown that domestic oil companies release five times more emissions than the international oil companies in their operations, relative to the oil and gas they produce.

“This becomes a concern as IOCs divest and transfer assets to domestic oil companies,” the groups added.

Nigeria currently has a

backlog in natural gas supply as most of the gas produced in the country is associated gas, the groups stressed, noting that this poses a challenge to the prospects of driving a significant increase in the nation’s natural gas export capacities and its ability to meet local demand.

On resolutions, AfriTal and NGRI said there was a need to publish a comprehensive ‘costed’, realistic, and detailed Decade of Gas Policy with clear milestones to put Nigeria on track for a sustainable energy future and ensure that stakeholders can know exactly what it entails.

“There is a need for community interests to be factored into Nigeria’s gas expansion plans to minimise the environmental impacts, and often marginalised groups, women, and youth benefit from employment opportunities and health impacts.

“There is a clear need for CSOs and media to engage with the decade of gas policy to drive awareness for all players across all sectors and advocacy for its disclosure.

“As they advocate, it is equally important that their capacity to inform and educate, especially amongst marginalised communities, be enhanced and supported,” the CSOs added.

L-R: Director General,, Arise Women Palliative Distribution, Mrs. Lolade Wakama;, 2023 Arise Chairperson, Mrs. Feyisara Osinupebi; Founder/CEO Arise Women Foundation, Dr. Siju Iluyomade;;, Arise Committee member, Mrs. Doyin Arueyingho; and, Arise Committee member ,Mrs. Ranti Obileye, at the media briefing to announce the forthcoming Arise walk for Life in Lagos yesterday

ETOP UKUTT

SANWO-OLU TOURS FLOODS RAVAGED AREAS...

Gov Sanwo-Olu Vows to Regenerate Waterlogged Lagos Island Neighborhoods

Jankara, Pelewura, Bombata markets for redevelopment; traders get evacuation notice Ilubirin Pump Station ready in

Clogged drainage, waterlogged roads, muddy streets are an eyesore that has made Idumagbo Avenue and adjoining areas in Lagos Island an urban nightmare. But the ugly sight is about to give way for a major regeneration by the Lagos State Government.

A statement disclosed that

January

Governor Babajide Sanwo-Olu, yesterday, took a tour of the area for a firsthand assessment of the environmental degradation threatening lives and livelihoods in the entire neighbourhood.

The governor, in a pair of rain boots, trekked through the waterlogged streets, taking stock

of risks posed by the polluted environment and stagnant water. Disturbed by high-level pollution and facility decay in the entire area, Sanwo-Olu disclosed that the urban renewal project would commence early next year. The regeneration, he said, will be done by Julius Berger - the construction giant which first

developed the area.

The governor, in the interim, directed the Ministry of Environment to immediately start comprehensive cleanup operation to clear unapproved structures built on water channels.

“Princess Street, which leads to the popular Jankara Market, had

Nnaji: Artificial Intelligence Will Not Lead to Massive Job Cuts

Tells FG to make NCC, Ministry of Science and Technology, others frontline MDAs

Dike Onwuamaeze

Contrary to widely held fears that the increased use of artificial intelligence (AI) would cause massive job losses, Nigeria’s former Minister of Science and Technology, Professor Bart Nnaji, has assured Nigerians that AI would increase productivity and help many workers retain their jobs.

Nnaji, who is a former distinguished professor of Mechanical and Industrial Engineering at the University of Massachusetts, United States of America, where he was also the director of the Robotics and Automation Laboratory, gave this assurance when he delivered the 2023 Annual Public Service Lecture of the Chartered Institute of Personnel Management (CIPM) titled “Artificial Intelligence and the Nigerian Workforce.”

He also called on the federal government to regard the Ministry of Communication and Creative Economy, the Ministry of Science and Technology as well as the National Communication Commission (NCC) and the National Agency for the Acquisition of Technology (NAfAT) as its frontline development Ministries, Departments and Agencies (MDAs).

Nnaji said: “AI is an indispensable tool. It is immensely useful. It is

revolutionary. It helps to detect and prevent fraud. It does most things with precision and faster and cheaper. But it cannot take the place of humans so much. In radiology where it performs wonders in analysis and detection, doctors are still needed.

“Many of you are afraid that AI will take your jobs away. Well, some jobs like clerical and administrative jobs will go. These are routine jobs. Computers learn to do them better through repetitive performance. That’s what is called machine learning.

“Therefore, it is advisable you upscale your skills. You need to reskill, whether you are doing a job easily replaceable by AI or not. As a recent study by Standford and MIT researchers has shown, AI does help organisational members retain their jobs!

“So, I urge you to reskill by learning how to use AI as a tool in task performance. Don’t be like typists, secretaries and clerks of the 1980s who refused to retool in the 1980s when the computer was becoming ubiquitous and consequently lost their jobs.”

He cautioned academics and other researchers on overreliance on large language models (LLMs) like ChatGPT because they were prone to error and palgarism.

“For those of you who want to use generative AI to do your academic work, I have news for you: the citations or references which ChatGPT generates are frequently not accurate! ChatGPT is notorious for wrong or non-existent references. So, be careful. Otherwise, you will be accused of academic fraud,” he warned.

Nnaji also called on Nigeria to create the AI culture by bracing up for the impending AI revolution. Therefore, “the top leadership of the country must be very keen on AI so as to understand it. It is only when our leaders have a good

understanding of what AI is that they that they can make the right policies and implement and monitor them properly,” adding that AI would, “become a most important and indispensable part of our work in the private and public sectors.”

He gave the example of China where President X Jinping is personally involved in the AI drive, noting that American cabinet members like the National Security Adviser and the Secretary of State make policy statements on AI because they have a good understanding of what it means.

become the opposite of what it used to be. Concrete shops built on drainage channels have left the area prone to perennial flooding.

“Jankara Market had become impassable and permanently flooded due to indiscriminate trading and pollution,” the statement added.

It also revealed that, Sanwo-Olu took a walk through the waterlogged Ojo-Giwa, Oroyiyin, and Binuyo streets where drainage channels had been completely blocked by concrete structures, making it difficult for stagnant water to evacuate into the secondary drainage.

“While on assessment of the environmental situation in Bombata, Jankara and Pelewura markets, the Governor gave traders eviction notice to pave the way for regeneration,” it added.

It pointed out that Sanwo-Olu decried the level of deterioration in the neighbourhood, disclosing that the state government would be embarking on regeneration that would solve the flooding issue.

He said: “Idumagbo Avenue and adjoining streets are part of a corridor that was once well built, but has failed over the years. It is not only the road network that has failed, but also the drainage because of all the activities of markets.

“We observed traders have built

structures over the drainage. We noticed places where the interlocking bricks of the road could be seen, but have been covered by dirts.

“The is the situation and it is the same at Ojo-Giwa Street where traders have built on drainage along the entire stretch. All of these developments have resulted in the failure of the road and drainage.

“We can all see the reason why Jankara Market and other areas are flooded. This inspection has offered us the opportunity to see the issues firsthand and empower us to proffer the lasting solutions.

“I am using this as a notice to all illegal squatters on the markets. We will take and clean up the entire market. We will start fully with Bombata Market and Jankara Market, which will be demolished to ground zero. There is a full design of the plan we have to rebuild the markets. This effort, coming up early next year, will be a long-term regeneration of the area.”

In the case of Pelewura Market, which has turned a den of criminal activities, Sanwo-Olu said adequate notice would be given to illegal squatters to move. The governor said the government’s concessionaire, the local government and stakeholders would agree on when the evacuation would start.

Privatise Moribund Refineries, Senate Tells FG

Sunday Aborisade in Abuja

The Senate has urged the federal government to privatise the moribund oil refineries as the nation grapples with high cost of petroleum products due to lack of local refining of crude.

The Chairman, Senate Committee on Finance, Senator Sani Musa, gave the advice while fielding questions from journalists in Abuja. He said the refineries have more or less turned to bottomless pit for

government as far as turnaround maintenance is concerned.

Musa said, "For me, my candid advice to the federal government on the nation's apparently moribund oil refineries is for them to be privatised.

"Proceeds from such privatisation should be sunk into the mining sector for jobs creation for the teeming Nigerian youth who are roaming the streets on daily basis.

"The youth constitute 70 per cent of Nigeria's population and

must be made to be productive which is doable if the mining and agricultural sectors are re-positioned for that.

“The Not-too-young to run opportunity given to the youth in the political terrain, should be practically extended to the realm of innovation by providing them with conducive environment and enablement to innovate as it is, in most developed countries," he said.

He added that Nigeria has not performed poorly in her 63 years

of self-governance, but posited that what it needs now was the right kind of leadership.

The right leadership he explained, would help in harnessing the abundant human and natural resources the country was blessed with, for the greatest good of the greatest number of her citizens.

He, however, noted that the President Bola Tinubu-led administration, was showing inclination for the right leadership needed by the country.

Lagos State Governor, Mr. Babajide Sanwo-Olu (third left) listening to a point from the Chairman of Lagos State Football Association, Hon Fouad Oki (second right) during an inspection of the flooded areas in Lagos Island ... yesterday

As Atiku Tenders Tinubu’s Varsity Records Before Supreme Court...

President Bola Tinubu’s educational history have been one that has been enmeshed in one controversy or another since 1999, when he contested for the office of governor of Lagos State. Since then, the issue has refused to go away, reaching its crescendo with the 2023 general elections.

Even before Tinubu declared his intention to vie for the number office in the country, opposition to his ambition commenced move both in the media and in various law courts to ensure that he never become President of Nigeria, something which Tinubu himself declared as his life ambition.

Besides David Hundeyin, a journalist and Mike Enahoro-Ebah, a lawyer, civil society groups such as the Center for Reform and Public Advocacy; the Incorporated Trustees for the Advocacy for Social Rights Advancement and Development Initiative (ASRADI) and the Action Alliance (AA) all made efforts through advocacy and litigation to ensure Tinubu was disqualified from participating in the 2023 presidential election. But whether by fate or default, Tinubu did not only win the ticket of his party, the All Progressives Congress APC) but went ahead to win the February 25, 2023 presidential poll with over eight million votes.

In various petitions filed against his victory at the poll, the presidential election tribunal was asked to hold that Tinubu violated Section 137 of the Constitution when he last year submitted forged certificate to the Independent National Electoral Commission (INEC), to enable him contest the presidential election.

While it is not the first time such allegation was being made against Tinubu, it would be in the best interest of the judiciary to finally deal with the issue and lay it to rest permanently. Recall that efforts in the past by Nigeria’s leading legal luminary and activist, late Gani Fawehinmi (SAN) to get Tinubu investigated and prosecuted suffered a set back due to the immunity clause that shields state governors and the president from investigation over alleged criminal offences.

As at today, Tinubu is the President of Nigeria and just as in 1999 enjoys immunity from investigation and prosecution of any alleged crime.

Owing to the international dimension the issue is generating, especially with the release of Tinubu’s academic record and the subsequent denial of the diploma certificate the president submitted to INEC by the CSU, it has become imperative for the apex court to rise to the occasion and redeem the already battered image of the country.

Judge Nancy Maldonado of a United States District Court for the Northern District of Illinois, had on September 30, 2023 ordered the CSU to release Tinubu’s academic records to Atiku, unfailing by October 3, 2023. The court

in its judgment in Tinubu’s objection to the release of his CSU records to Atiku, held that the Magistrate Judge Jeffrey Gilbert, was right in granting Atiku’s application for discovery.

While pointing out that Atiku met the statutory requirements and that the discretionary factors support granting the application, Justice Maldonado held that, “this Court will not obstruct the flow of discovery solely within the possession of a U.S. institution on a matter of such importance when the respondent stands ready and willing to provide it”.

There is no gainsaying the fact that Nigeria does not have a good image outside the country, as some of her citizens have been engaged in one crime or another, however this poor image would further degenerate if the apex court fails to do justice this time around.

Like Atiku Abubakar said during his press briefing recently in Abuja, “the reputation of our country is at stake. That affects everyone, Nigerians everywhere”.

While documents released last week seem to buttress allegations that the certificate Tinubu submitted to INEC, was forged, what appears to have dealt a deadly blow to Tinubu and the nation as a whole, was the submission by CSU’s Registrar, Mr Caleb Westberg, who told a US court that the diploma Tinubu submitted to INEC was not issued by the university. Westberg stated this while deposing to the documents the CSU was handing over to Atiku to support his case at the Supreme Court. Recall that in objecting to the release of his academic

records, Tinubu had alleged “irreparable harm” to his person.

Indeed, there is an irreparable harm waiting to befall the country except the apex court in deciding the matter act judicially and judiciously and in the overall interest of the country.

Although, the registrar in his deposition had maintained that Tinubu attended and graduated from the CSU in 1979, however, during cross examination, he could not confirm the diploma Tinubu submitted to INEC, claiming he was seeing it for the very first time.

“Exhibit 6, this purports to be a June 22, 1979 diploma issued to Tinubu and you can see it is stamped by INEC on the diploma as well. Have you seen this document before”, witness was asked.

“In the proceedings of this case yes “, he responded.

Question: You have never seen the document prior to the proceedings in this case?

Answer: You are correct.

Besides, the witness agreed that there were remarkable difference in the diploma Tinubu submitted to INEC and the ones issued by the institution both in 1979 when Tinubu graduated and the one issued last year to Enahoro-Ebah. These differences range from the signatories down to the logo and seal. According to Westberg, certificates issued in 1979 had five signatories and seal with the class of hands, but the one Tinubu submitted to INEC has just three signatories and seal with triangle.

Specifically, Westberg pointed out that the signature on the replacement certificate of Tinubu matches certificates issued in the 1990s and not those of 1979, adding that some of the persons who signed the INEC diploma were not in the institution by 1979.

Question: The diploma says it was granted on June 22, 1979?

Answer: Yes.

Question: And CSU did not have a board

of trustees in 1979, did it?

Answer: True

Question: So let’s look at the signature on the INEC diploma, on the right it looks like one of the signatories was Elnora Daniel correct?

Answer: Yes.

Question: And Elnora Daniel was not the chair or president of CSU in 1979 correct?

Answer: yes.

Question: she was president 1998 to 2008, correct?

Answer: As far as I am aware.

Similarly, while witness identified another signatory in the diploma Tinubu submitted to INEC as that of Herbert Conley, he admitted that Conley was not the dean of the faculty of Business Administration in 1979. Faulting further the seal on the diploma with INEC, witness stated that the the word “responsibility” and year 1867 were missing.

Question: And you are unaware of any diploma that includes these three signatories being issued by CSU?

Answer: correct.

Question: And you have never seen a diploma that cut off the triangle seal in this manner?

Answer: correct.

Question: You have never seen a diploma that cut off the signature of Herbert Conley, position like this?

Answer: Correct.

Question: And CSU does not have a 1979 diploma that contains the font CL signatories and wording apart from the INEC diploma?

Answer: Correct.

Question: So CSU does not know of any diploma dated 1979 like the INEC diploma that has ever been issued?

Answer: correct.

Question: And CSU has no record of issuing the INEC diploma to President Tinubu in 1979?

Answer: Correct.

Question: So CSU did not issue the INEC diploma to President Tinubu in 1979?

Answer: Not in 1979.

Question: And did not issue diploma dated June 27, 1979 to Tinubu in 1979?

Answer: Correct.

Meanwhile, while the witness in one breath claimed that, “we did not find any diploma issued by 1979 to Tinubu”, in another he admitted that the school has in its file the diploma dated June 27, 1979, which was the copy released last year to Enahoro-Ebah under the order of a US court.

On why they have the June 27, 1979 copy in their file, witness stated that he presumed that the diploma was not picked up by Tinubu. But, the certificate Tinubu submitted to INEC was dated June 22, 1979.

Alex Enumah harps on the need by the Supreme Court to thoroughly scrutinise the Chicago State University’s academic record of President Bola Tinubu tendered before it last week, not just in the interest of justice regarding the petition of Atiku Abubakar, but in the overall interest of the Nigerian nation.

Tinubu Atiku

While it is not the first time such allegation was being made against Tinubu, it would be in the best interest of the judiciary to finally deal with the issue and lay it to rest permanently. Recall that efforts in the past by Nigeria’s leading legal luminary and activist, late Gani Fawehinmi (SAN) to get Tinubu investigated and prosecuted suffered a set back due to the immunity clause that shields state governors and the president from investigation over alleged criminal offences. As at today, Tinubu is the President of Nigeria and just as in 1999 enjoys immunity from investigation and prosecution of any alleged crime.

Crude Oil Exploitation: Rumuekpe Community Insists on Fair Treatment from Multinationals, FG

The people of Rumuekpe Community in Emohua Local Government Area of Rivers State recently staged a two-week protest against oil multinationals and government at all levels, demanding a fair treatment and remedy for the deplorable state of the community that hosts four International Oil Companies since 1958. Blessing Ibunge who observed the protest, reports

About 18 years after a deadly intra-communal crisis rocked the Rumuekpe community over leadership struggle and distrust by its indigenes, the people have risen up again to demand for justice in the land.

The communal crisis which happened between 2005 till about 12 years later, rendered the community a ghost town as every house and property was burnt down by aggrieved community members, many were killed while others fled. During the period of crisis the only visible things left in the area were bushes and shrines.

However, oil companies operating in the area were not also affected as the target was on some prominent indigenes of the community, who were allegedly perceived as betrayal of development and common share.

Many years after the incident, the community is insisting that they are not being fairly treated by the oil multinationals operating in the area. They also accused the local government, state and federal government of paying a deaf ear to their cries for community development. They pleaded for social amenities; including good road network, pipe borne water, health centre, market, schools, employment, electricity, clean environment, especially remediation of polluted parts of the community and others.

The thousands of natives of Rumuekpe, alongside Association of Niger Delta Upland Communities (ANDUC) sighted at the community entrance at the weekend, are also protesting their exclusion in the multi-billion naira pipeline surveillance contract awarded by the federal government.

They demanded their rights as upland community in the contract and other benefits from the government as host community of Shell Petroleum Development Company (SPDC) Agip Eni, TotalEnergies and Niger Delta Petroleum Resources (NDPR).

The community people regretted that they are hosting the largest manifold in West Africa and four oil wells but have nothing to show that such wealth is coming out from the area.

President, Association of the Niger Delta Upland Communities, Alhaji Isa Mohammed, expressed sadness that the surveillance contract he said meant for youths from oil producing upland communities were being given to indigenes of Riverine communities.

Mohammed demanded that "the N26.4billion allegedly paid by Pipeline Infrastructure Nigeria Limited (PINL), to 'fake' warlords in the riverine communities meant for eight months salary arrears of Trans-Niger Pipeline (TNP), Oil Surveillance in Rivers State, be returned to the upland communities."

He demanded that the Nigerian National Petroleum Company Limited (NNPCL) should release the original copies of documents for the oil surveillance contract for the TNP oil pipeline to the upland communities.

The ANDUC president further demanded equal right from federal government to upland communities, saying, "All we are asking is that all

accrued benefits and arrears of salaries amounting to N26.4billion meant for us, the upland communities, which was diverted to wrong destinations, be returned to us".

He said in the two weeks of protest, millions of barrels produced on daily basis from the crude oil in Rumuekpe Manifold, worth billions of naira will be wasted if their demands are not met.

"We are freedom fighters and we are appealing to the federal and state governments, including the international communities to come and resolve this matter amicably, because the upland communities have been in captivity to the so called warlords in the riverine communities.

"Rumuekpe is not just a pipeline or mere oil producing community, but the treasure base of this country. Rumuekpe, an upland community, is a facility community and a centre of connection with the largest manifold and flow station as well as one of the tallest microwaves in the world, among other facilities. Without Rumuekpe, there would be no sales or production in the Bonny terminal.

"We are not asking for much, all our rights as regards to the pipeline surveillance contract in this area, meant for our people, including payment of our salary arrears and all benefits denied us by the federal government through PINL, and diverted to so-called leaders unknown to us from the riverine communities, should be returned to us.

"We cannot have this kind of facilities, enrich the federal government account, suffer all the hazards, pollution and destruction of our farmlands, we even protect the facilities and someone else that doesn't know about this area, or the sufferings of our people will be enjoying the benefits.

"We will leave no stone unturned. Oil production and operations of oil companies in Rumuekpe will remain shutdown until our demands are met," he said.

A community leader in Rumuekpe, Chief Uzuigwe Alexander, told THISDAY that Rumuekpe is facing serious

challenges of social amenities. He said 65 years of exploitation of crude oil in the community, indigenes were treated like slaves who were in unfortunate land.

Uzuigwe lamented: "Honestly, we have so many grievances against the multinationals but the one that broke the Carmel's back is the award of Surveillance Contract to non Indigenes, to somebody from riverine area whereas the work is just at our backyard. Pipeline cutting across our lands. They took the contract to a riverine man, whereas we have men, youths unemployed. You can imagine the oil companies, no one have a Rumuekpe man as a staff. Our women are lying waste, nothing is happening.

"Rumuekpe, a community of eight large sub communities have no health centre, no hospital. Just imagine from Rumuekpe to Alimini, a pregnant woman will be on labour, our road is not motorable, you will look for motorcycle, a woman under labour will climb to get to Alimini, you neither carry her corpse back home nor you put her in a mortuary where she died. But we have multinationals, we have what God has gifted us".

He continued that "If crude oil was given by government, it wouldn't have gotten to Rumuekpe land, that gift that was given to us by God, because Rumuekpe is full of oil boom but they have turned it to oil doom. Is unfair. Is better they invite all the soldiers in the country to come and kill of us, than for us to live a life of slavery.

"Rumuekpe is Bonny terminal. Oil cannot move from anywhere without passing through Rumuekpe, is terminal where Elf is in operation since 1958, Shell is here, NDPR is here, Agip is also here. We are tempted to ask local, state and federal government, what evil has Rumuekpe community committed against them. Since the inception of these multinationals and their operation, Rumuekpe has not vandalise their equipment. Even when we fought, Shell was on their operation, Elf the same thing. They will see us dying, they will passover, nobody hurt them, non of their staff died the whole of 12 years Rumuekpe had their crisis", Uzuigwe lamented.

Mrs Eunice Orji, General woman leader of Rumuekpe, said widows and orphans are suffering neglect by the government and multinationals who operate in the community.

Mrs Orji stressed "This is two weeks we are in protest, our demand is clear; we are here for freedom fighter. Government and multinationals should come to our aide. This is a land fill with

honey. Since the multinationals have been in our community, a land blessed with rich natural resources but we are not enjoying it because of injustice in our community. Widows, teenagers, youths and men are suffering. No skill, no scholarship. They have now brought army to come and intimidate us. We are angry now.

"No employment, no road, no hospital, no market, before a pregnant could get to Elele Alimini to deliver her baby, she could have died. Our land is polluted with with crude oil, yet they have refused to employ our people. We pay N1000 to Alimini for market before we could eat. Widows are suffering, orphans are dying. In this our peaceful protest, the military have arrested three of our sons. We are demanding for electricity, skill, employment, road, market, hospital, schools".

A youth from the community who gave his name as Obom Chibroma, decried "We are still drinking stream water even in this modern time. All the contractors don't reside in the community. We have nothing, our youths are not engaged, our community that is hosting the largest manifold in West Africa, that is feeding Nigeria, contributing immensely to the government at all levels, we don't have anything to write home about.

"It's too appalling for our state of life here, we still go through crude system of farming. We are protesting against marginalisation, against exploitation. The Rivers State government is exploiting this community, the LGA, and the federal government are exploiting this community, then our contractors are also exploiting us. So what we are demanding is equity, fairness and Justice".

Meanwhile, a civil society organisation, We The People, has demanded that IOCs operating in the community should be responsible to take up some developmental projects that will positively affect the indigenes of their host community.

Executive Director of the organisation, Mr Ken Henshaw who led other CSOs on solidarity with the community at the protest scene, also urged the government on the need to step in, and ensure development benefit of oil extraction for Rumuekpe people.

He said "We all are here in the community, what we saw was 15 days of action by the Rumuekpe community people. Rumuekpe community where oil extraction has happened since 1958. Rumuekpe is a classical study of the resources course, a place ordinarily with abundance of wealth, perhaps in the most terrible suffering.

"Rumuekpe for the last decades has gone through very tremendous conflict that destroyed everything they have. Every single house in Rumuekpe was destroyed, to the extent, no single Rumuekpe son or daughter could enter into that community, the only people who could enter the community were the four oil companies; TotalEnergies, Agip, NDPR and Shell.

We are still drinking stream water even in this modern time. All the contractors don't reside in the community. We have nothing, our youths are not engaged, our community that is hosting the largest manifold in West Africa, that is feeding Nigeria, contributing immensely to the government at all levels, we don't have anything to write home about

Women of Rumuekpe community in Emohua LGA, Rivers State, in a protest against marginalisation and neglect by IOCs and federal government in the community

Elders of Rumuekpe community also protesting injustice by oil multinationals in their community

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

EDITORIAL

ABUSE OF NIGERIAN WORKERS BY FOREIGNERS

Labour laws must be respected at all times

The plight of Nigerians working in some Asian-owned companies operating in the country is worrying. Apparently because of the desperate drive of government for foreign investment and substantially because of the endemic corruption in the country that makes it possible for agencies saddled with monitoring the enforcement of labour laws to be compromised, these workplace abuses are perpetrated with impunity. There are tales of how our citizens in these companies are forced to work under the most hazardous conditions as most of them are made to carry out dangerous tasks without protective equipment and requisite workplace safety measures. Some of these workers have even lost their lives or become permanently incapacitated in the course of carrying out assigned tasks.

In several cases, the next of kin receive little or no compensation despite the fact that the accidents that led to their deaths or permanent injuries occurred at their places of work and in the course of carrying out assigned duties. Not only are the Nigerian workers in the employ of these companies subjected to inhuman treatments that could be described as modern day slavery, they are also made to work for long hours and paid ridiculous wages that literally cannot take them home.

Meanwhile, the Asian workers brought into the many with no work permits, are paid stupendous wages. There are also reports that some of these ‘expatriates’ are convicts brought in to work as part of their prison terms. This is not only a breach of the extant labour laws, it is also a contravention of the Nigerian constitution. Some of these companies are also reported to be in breach of provisions of existing labour laws especially with respect to perpetual casualisation of some of their Nigerian

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

Letters to the Editor

employees, thereby denying them of job security and pension scheme.

General Secretary, the Federation of Informal Workers’ Organisation of Nigeria (FIWON), Gbenga Komolafe, lays the problem on casualisation of workers in many sectors and the lack of protection for them. “We ask that the laxity in labour law that legitimises them should be amended. We will said Komolafe. “All these are happening because there is no labour protection. We can’t organise them because they are not our members. It is part of the agenda of political reforms that workers get better representation in governance. All workers should have the basic protection of the union while at do not have the luxury of opting out of this enslavement because of the unprecedented level of unemployment in the country today. They are left with the option of choosing between the devil - in this case, their employers - and the deep blue sea, which is the ever-expanding unemployment market.

We strongly condemn these inhuman and undignifying labour practices and call on government to urgently put an end to the violation of the rights of the Nigerian workers by ensuring compliance with extant labour laws. We believe no responsible government would allow its citizens to be subjected to such dehumanising treatment by foreign companies. While government may be driving for increased foreign investments, potential investors must be made to understand that we are a nation governed by laws and those laws must be respected at all times. We also call on organised labour to play a key role in putting an end to these practices by helping to identify those companies engaging in the abuse of Nigerian workers and reporting them to the appropriate authorities.

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

WOULD YOU LIKE TO BE A TEACHER?

“Better than a thousand days of diligent study is one day with a great teacher.” – Japanese Proverb.

In many parts of the world, October 5 of every year is observed as World Teachers’ Day. Also known as International Teachers’ Day, it is a day that celebrates the incredible role that teachers all over the world play and their important contribution to society. This year marks the 29th anniversary of World Teachers’ Day, and the theme for this year is: “The teachers we need for the education we want: The global imperative to re-

On October 5, 1966, the International Labor Organizationand investigate the status and situation of teachers across the world. From their working conditions, recruitment, rights, and responsibilities, this historic recommendation set a high standard of practice in the workplace.

tional Teachers’ Day in 1994. The focus is aimed primarily at the issues faced by teachers and the goals outlined in the recommendation.

work hard to inspire, guide, educate and mentor us every day. Teaching is an inspiring profession that leaves a lasting impact on every child’s life, no matter how big or small it may seem. Teachers provide education for all ages, children to adults,dards in place to protect and look out for them, to enable them out of the classroom, and in their local communities. By raising awareness of the importance of teaching and the current the quality of education. Teaching is a noble work with good incentive. It is indeed a most vital profession. Teachers lay the essential foundation for a person’s education. However, it has to be admitted that the teaching profession is a demanding one which presents many challenges – from inadequate pay to inferior classroom conditions; from excessive paperwork to oversize classes; from disrespect and violence to a lack of concern on

the part of parents/guardians. Being a teacher is not at all easy. economy, life has not been easy for many teachers. And poor remuneration has always discouraged people from moving into and drawbacks, many teachers still persevere in their chosen profession. What motivates them? While most teachers are modesire to help less fortunate people. Still others are encouraged when they see the successes of their students, and receive praise the challenges, setbacks and disappointments, many teachers still derive great joy from their work.

vinced of the value of education and is also interested in young people, it is impossible for him or her to become a good, succhallenge.

Daniel Ighakpe, FESTAC Town, Lagos

We condemn inhuman and undignifying labour practices and call on government to urgently put an end to the violation of the rights of the Nigerian workers by ensuring compliance with extant labour laws

This Week In Tech

Benjamin: Seeing the Future of Cross-Platform Frameworks Adoption in Nigeria

Daniel Benjamin, a Senior Software Engineer at SovTech and former lead mobile developer at Risevest, shares insights into his mobile app development journey, experiences in the Nigerian market, and thoughts on emerging trends. Nosa Alekhuogie presents the excerpts:

Can you describe your role as a mobile developer at Risevest? What projects have you been involved in recently?

At Risevest, I began by focusing on mobile app development and enhancing user interaction with our product. As time progressed, I advanced to the role of Mobile Lead. In this capacity, my duties expanded to not only managing the development of Risevest’s mobile apps but also overseeing the mobile team. As a manager, I prioritised equipping the team with essential resources, ensuring efficient task execution, and actively nurturing our engineers’ professional development.

I would say I played a key role in fostering the professional growth of our engineers.

What significant contributions have you made that demonstrate your technical expertise and leadership abilities?

I facilitated critical technical discussions that significantly propelled the Risevest app from its state two years ago to its current advanced state. My role encompassed implementing substantial changes, including the introduction of a comprehensive design system, a major overhaul of the app’s codebase, and the successful integration of a more efficient product development process. Moreover, I assumed leadership of the team when our engineering lead transitioned. These efforts combined resulted in an impressive 30% acceleration in our team’s ability to deploy new features.

What emerging technologies or trends do you think will impact mobile app development in Nigeria and the world at large?

I foresee a growing trend in Nigeria towards the adoption of cross-platform frameworks such as React Native and Flutter. These frameworks are becoming increasingly popular due to their ability to save time and expedite the development process, and I anticipate this trend will continue to gain traction across the country.

Moreover, in Nigeria, there is a promising rise in AI-based apps and chatbots. As our economy expands, these applications have the potential to position Nigeria prominently in the tech landscape by providing innovative solutions and enhancing overall user experiences.

On a global scale, I anticipate a surge in Augmented Reality (AR) and Virtual Reality (VR) development. These technologies offer immersive experiences and find applications across diverse industries, including gaming, healthcare, and beyond.

Additionally, the rise of low-code and no-code development platforms is expected to continue globally. These platforms empower individuals with limited coding experience to create applications more easily and quickly, simplifying the development process and lowering the barrier to entry for aspiring developers.

The Internet of Things (IoT) technology is also set to expand on a global scale, connecting devices and enabling data-driven solutions across various sectors, such as smart cities, healthcare, agriculture, and more.

These emerging trends underscore the everevolving nature of the tech industry, presenting ample opportunities for innovation and growth, both within Nigeria and on the global stage.

Could you provide an example of a time you suggested or put into practice a novel technology or approach that enhanced a mobile application’s efficiency or quality?

The incorporation of a design system into our application not only quickened the development pace but also notably diminished instances of UI glitches and hurdles. Consequently, our app development process felt highly efficient, resembling the seamless assembly of Lego blocks, where each component effortlessly fell into position.

During a challenging period marked by numerous bugs and issues, I advocated for a comprehensive app rewrite. Although met with initial resistance, we eventually reached a compromise. We initiated a systematic approach: firstly, addressing and rectifying all existing bugs in the app, integrating robust bug monitoring systems like Sentry, and establishing a uniform coding style. Concurrently, we began the gradual process of rewriting the app.

This strategic approach yielded outstanding outcomes, leading to a remarkable reduction in

our crash rate from 5.57% to an impressive 0.39%. It serves as a testament to how meticulous planning and phased implementation can drive substantial enhancements in app stability and performance.

Could you provide a brief summary of your current position at SovTech?

Currently, I hold the position of a Senior Software Engineer at SovTech. My focus revolves around contributing to Lissen, a music application based in the UK. I find the dynamic, fast-paced work environment highly engaging. My role demands flexibility, often switching between backend engineering one day and mobile engineering the next. This constant challenge has motivated me to consistently broaden my knowledge and skill set, turning each day into a valuable learning experience.

Could you share your insights and experiences regarding mobile app development in Nigerian?

My venture into the Nigerian market has encompassed a mix of challenges and gratifying moments. Each experience has been a valuable lesson, propelling me to overcome hurdles and progress in my professional expedition.

In my earlier years as a junior developer, I faced diverse scenarios. One notable incident involved a brief stint where the CTO requested pro-bono work. Upon declining, citing my status as a student, I was promptly let go. Additionally, tight and demanding deadlines were not uncommon. Yet, I have also been fortunate to work in nurturing environments that invested in my growth, providing courses, and fostering an atmosphere for excelling.

Overall, my journey in mobile app development has largely been positive. My advice to newcomers in the tech industry is to stand up for themselves and resist exploitation. Asserting your worth and setting boundaries is crucial. Always remember it does improve, and you possess the ability to carve your own path in this dynamic field.

How do you strategically prioritise and plan the integration of new technologies to align with the evolving needs of a business?

Operating in a startup environment necessitates achieving a delicate equilibrium. Despite an

ideal approach for implementing a feature, finding the balance between perfection and practicality is key. Devoting three months to building a feature that users do not utilise can be a substantial drain on resources. Hence, the challenge lies in striking that middle ground where valuable functionality is efficiently delivered without excessive time spent on perfection. This approach enables startups to embody agility, promptly respond to user feedback, and maintain resource efficiency.

How do you optimise mobile apps for performance and responsiveness, especially in regions with varying internet connectivity, like Nigeria?

Consistently, my development methodology revolves around a “cache-first, network-after” approach. This involves prioritising the storage and retrieval of data from local cache or storage as the initial step, reserving network requests to fetch data from the server as a secondary option. This strategy effectively mitigates potential challenges arising from unreliable internet connectivity, enhancing the overall user experience.

Furthermore, I integrate network quality detection mechanisms. Depending on the detected network quality, I dynamically adjust the content loaded by the app. For instance, during poor network conditions, I opt for smaller media files, while in optimal network scenarios, I load larger media files. This adaptive approach ensures that users can access essential content even when faced with less-than-ideal network circumstances.

Additionally, a significant aspect of optimising app performance involves caching media files. Proactive downloading and caching of images, songs, and other media files help minimise repetitive downloads, leading to enhanced content load times and a smoother user experience.

What are the key security considerations when developing a mobile app, and how do you address them?

When developing an app, it is crucial to prioritise backend security since it forms the application’s core, managing vital business logic and data storage. If the backend is compromised, regardless of the strong measures taken on the

mobile or frontend, the entire system is at risk. Engage a security expert, conduct regular audits, implement robust user input validation, utilise data encryption, enforce strong authentication and authorisation, and adhere to data privacy and compliance regulations to bolster backend security.

Additionally, user education is essential. Many users unknowingly share sensitive information like birthdates, BVN (Bank Verification Number), ATM PINs, etc., with unauthorised individuals. Continually educating users about these risks is critical, as it directly compromises their accounts. Advocate for best security practices, including creating strong passwords, activating two-factor authentication, and staying vigilant against phishing attempts.

How do you stay updated with the latest trends and technologies in the technology space?

Remaining dedicated to continuous learning and knowledge sharing is integral to my professional journey. Actively seeking opportunities to enhance my understanding of the rapidly evolving tech landscape is a priority, achieved through diverse avenues, whether virtual or in-person.

One significant aspect of staying informed is my active involvement in online discussions and forums. These digital platforms provide an excellent arena to connect with fellow professionals, exchange insights, and tap into a wealth of collective knowledge. Whether engaging in tech-focused communities, social media groups, or specialised forums, I contribute to and learn from these vibrant conversations. This dynamic exchange keeps me updated on emerging trends, innovative solutions, and the latest best practices in the field.

Moreover, I highly value face-to-face interactions within the tech community. Participating in meetups and tech conferences offers a unique chance to delve deeper into discussions, network with industry peers, and gain firsthand exposure to groundbreaking developments. These events are not only about acquiring knowledge but also about fostering a sense of camaraderie, sharing experiences, and collectively envisioning the future of technology.

Through these interactions, I gain invaluable insights into the latest innovations and developments shaping the tech world. Additionally, I am privileged to learn from the experiences of other companies and professionals. Real-world stories of challenges and successes inspire me to approach my work with fresh perspectives and a continuous thirst for improvement.

My commitment to staying informed and inspired by the ever-changing tech landscape is not just a professional obligation—it’s a genuine passion. It signifies a dedication to growth, adaptability, and the pursuit of excellence in an industry that thrives on innovation and collaboration.

Can you describe a complex project you led or were a key part of? What challenges did you face, and how did you overcome them?

The Lissen app stands as one of the most significant projects I have had the privilege to work on, primarily due to our deep involvement in the realm of music. Our app necessitates intricate interaction with users’ smartphone hardware, presenting a host of complex challenges.

Interacting with the hardware layer of mobile devices is a demanding endeavour. It involves navigating diverse operating systems and device-specific APIs and ensuring seamless compatibility across a broad spectrum of devices. It is not uncommon for our development team to grapple with hurdles and complexities that lead to late nights and intense problem-solving.

In this demanding environment, continuous education has become a fundamental aspect of our journey. Staying at the forefront of technology and consistently updating our knowledge base is not just a choice—it is a necessity. We are dedicated to comprehending the nuances of mobile hardware, striving for flawless functionality across various devices and operating systems.

Despite the challenging road filled with complexities, it is precisely this challenge that keeps us motivated and driven. Our commitment to providing a seamless music experience fuels our persistence and encourages us to see these challenges as opportunities for growth. Every obstacle we overcome every lesson we learn, brings us closer to achieving excellence in serving the music-loving community.

Benjamin

RATES AS AT OCTOBER 6,2023

Portfolio Investment in Equity, Bonds Plunge to $617.2m on FX Scarcity

Kayode Tokede

Amid political uncertainty and double-dight inflation rate, portfolio investment in equity and bond markets dropped to $617.2million in second quarter (Q2) of 2023 from $676.6 million in corresponding second quarter of 2022.

This is according to the National Bureau of Statistics (NBS) latest report on Nigeria’s capital importation in Q2 2023.

The uncertainty leading to the 2023 general elections orchestrated foreign investors shunning Nigeria’s market in the period under review but confidence was restored towards June 2023 ending when President Bola Tinubu-led administration announced unification of foreign exchange and fuel subsidy removal.

According to NBS, Inflation rate

increased to 22.79 per cent as of June 2023 from 18.6 per cent June 2022, another factor that discouraged portfolio iinvestment.

NBS disclosed that portfolio investment in equity dropped to $8.52 million in Q2 2023 from $12.72 million in Q2 2022, while exposure in bond market stood at $85.29 million in Q2 2023 from $322.04 million in Q2 2022.

In total, portfolio investment between Q1 and Q2 2023 in the equity market stood at $230.83million as against $44.5million between Q1 and Q2 2022.

In the bond market, portfolio investment exposure stood at $386.37million between Q1 and Q2 2023 from $632.1million in corresponding period of 2022.

The report by NBS, further disclosed that Foreign Direct

Investment (FDI) in equity and bond markets also dropped to $ 267.24million between Q1 and Q2 2023 from $599.26million in corresponding period of 2022.

FDI’s exposure in equity stood at $133.63 million Q1 and Q2 2023, representing a decline of 56 per cent from $ 302.13million reported in Q1/Q2 2022.

The NBS report disclosed that total capital importation into Nigeria stood at $1.03 billion in Q2 2023, lower than $1.54 billion recorded in Q2 2022, indicating a decrease of 32.90per cent.

The report added, “Other Investment ranked top accounting for 81.28 per cent or $837.34 million of total capital importation in Q2 2023, followed by Portfolio Investment with 10.37 per cent or $106.85 million and FDI with

8.35 per cent or $86.03 million.”

In a desperate attempt to tame the growing inflation rate, the CBN had raised the MPR to 18.75 per cent from per cent, and the world economy, according to the World Bank may be edging towards a global recession and a string of financial crises in emerging market and developing economies in 2023.

On the backdrop of unification of Naira, impressive corporate earnings by some key companies, and low yield in the fixed-income market, among other factors, the stock market segment of the NGX has gained over 29 per cent in nine months of 2023 and is highly dominated by domestic investors that comprises of retail domestic/ institutional investors.

Capital market analysts have

expressed that the MPR increase, uncertainty towards the 2023 political elections, inflation rate, and most especially the scarcity of foreign exchange have contributed to the decline in portfolio investment in equity and bond markets.

Commenting, the CEO Wyoming Capital and Partners, Mr Tajudeen Olayinka noted, “The only explanation for that is the disappointing exchange rate misalignment in Nigeria and the need to limit possible exposure to foreign exchange risk.”

He added that solution to the problem lies in unifying the exchange rate regime and allowing foreign exchange market to function.

On his part, the Chief operating officer of InvestData Consulting Limited, Mr. Ambrose Omordion

also highlighted that foreign exchange market challenges, 2023 election fear and rising interest rates weaken foreign portfolio investments in Nigerian stock market.

Speaking, the Vice President of Highcap Securities, Mr. David Adnori attributed the foreign investors’ decline in the equity market and bond market to foreign exchange scarcity, stating that domestic investors have increased their holding in some listed fundamental stocks on the Exchange.

According to him, “Those in the portfolio investment were not investing in Nigeria’s equity and bond markets during the period but confidence restored amid Naira unification.

The story continues online on www.thisdaylive.com

Nigeria’s Foreign Debt Service Hits $1.81bn in Seven Months

Nume Ekeghe

Data released by the Central Bank of Nigeria (CBN), has revealed that the federal government has allocated a substantial $1.81 billion to service its foreign debt obligations during the initial seven months of 2023.

A breakdown of the numbers

showed that in January 2023, the federal government dedicated $112.35 million to service its foreign debt. February witnessed a higher outlay of $288.5 million, while March marked a substantial expense of $400.5 million.

April brought about a noteworthy expenditure of $92.8 million, showcasing prudent

financial management practices. May saw a total expenditure of $221 million to meet these foreign debt obligations.

However, what prominently stands out in this data is the month of June, which recorded an exceptionally high servicing cost of $543 million. July also followed suit with $642 million, marking the highest figure

observed in the past 14 months.

A deeper dive into the report reveals that the total direct remittances from January to July 2023 amounted to $1.19 billion. This financial inflow plays a crucial role in balancing Nigeria’s external financial commitments.

The detailed breakdown of remittances indicates that in January, direct remittances

accounted for $79.2 million, highlighting a steady financial inflow. February recorded $83.76 million in remittances, signaling financial stability.

March saw a substantial sum of $138.6 million, showcasing consistent financial support.

April followed closely with a remittance of $159.04 million, emphasizing the importance of

financial resilience.

As the year progressed, May witnessed an influx of $202 million, reinforcing the nation’s financial stability. June experienced a significant increase, with $297.4 million in direct remittances, signifying steady financial support. July recorded an influx of $241 million, maintaining a consistent financial inflow.

A Catalyst for A’Ibom Agricultural Revolution

Akpan Okon

Just four months into his four-year tenure, Governor Umo Eno has demonstrated willingness to walk the talk on his promise to transform the agricultural landscape in Akwa Ibom State. The objective is to raise agriculture from the subsistence level it has been for decades to a huge industry that would position the state to be able to feed its people and become a net exporter of food. The governor said this much about his readiness to work at the recent celebration of the 36th anniversary of the creation of the state. “A little over 100 days since I was sworn in as your Governor, I can say that we have hit the ground running and God has been an ever-present guide as we work to translate our vision into practical, measurable and impactful forms,” Eno said in a statewide broadcast to mark the anniversary.

It is not by coincidence that agriculture forms the first leg of his A.R.I.S.E agvenda – agricultural revolution, rural development, infrastructure maintenance/advancement, security management and educational advancement.

A man who has spent his entire adult life investing for results, Eno has identified agriculture as one of the key areas for early investment by his administration to allow for bountiful harvests at the expected time. In August, less than three months after he assumed office, the decades-long hospitality operator invited Songhai Farms Investment Nigeria, an internationally renowned agricultural firm to come and help lift the agriculture leg of his development agenda out of the paper on which it is designed to turn it into reality.

The government signed a Memorandum of Understanding (MoU) with the Benin Republic-based firm to begin the process of food production that would be technologically driven, with the establishment of model farms in the state. The initiative, which is designed to be a long term partnership, would not only boost food production, but would also generate employment, enhance youth development and promote tourism in the state.

The governor’s statement at the MoU signing ceremony clearly underscores a well-thought-out agricultural project that is on the way to becoming a reality based on strong conviction of success. “I am an entrepreneur,” Eno had said at the epochal event. “I don’t go into businesses that I don’t understand the bottom line. What we want is what you have captured here. Be our development partner. Develop our youths, train them and use them. The things they can do, let them do it.”

A good programme with potential for success comes with timelines for measuring progress. “Transfer the technology and let’s see it in the next one year and then we can upscale,” Eno told the Songhai partners. He thanked them for agreeing to partner the state government on the programme and expressed optimism about its success because of his government’s commitment to achieving food security and improving the standard of living of the people of the state.

Eno has shown with the partnership agreement with Songhai on a project that is going to be the first of its kind in Nigeria that it is time to give life to election promises. His utterances and actions since assuming office indicate he is conscious of the fact that the stopwatch for his four-year tenure started running on May 29, 2023. And the people are counting.

“We have a four-year tenure,” he said. “So by the third year, I should begin to wind down this administration by the grace of God. I should have a clear path that as an investor, I am beginning to get back the money. I want to be able to savour the benefits of this project in the life of this administration.” And since one of the objectives of the project is youth empowerment, he added, “At that time, I must have prepared a group of young people that are also prepared to sustain this so we can upscale easily. These are the things I am looking at as the benefits of this model that we want to create.”

The agricultural revolution the governor has ignited in Akwa Ibom is aimed at creating an environment that would enable farmers to embrace agriculture as a business that could be more profitable than any other, such that would attract people who would otherwise not have been keen on going into the sector. This would involve creating a value chain that would remove a good percentage of unemployed youths, men and women, from the labour market, including the underemployed and make them business owners. It is a value chain that includes farmers, transporters, traders, suppliers in the hospitality industry, exporters, etc.

“Farmers will be made stakeholders in the economic renaissance project,” Eno promises, in the A.R.I.S.E. agenda. “It is worth emphasizing that there is a lot of money to be made in agriculture. Ours must go beyond the rudimentary stage of just making garri, starch, flour and others. Farmers need to be assisted.”

The assistance is going to come in various ways. One of them is increased access to agricultural credit facilities through the Ibom FADAMA Microfinance Bank and other agricultural credit institutions. The government would also provide support through extension services and capacity building using the Akwa Ibom Agricultural Development Programme (AKADEP) that has remained moribund for many years, which the current administration has promised to resuscitate.

The government’s plan to revive AKADEP and facilitate access to agricultural credit facilities is something farmers in the state are eagerly waiting for. Edet Udosen, a small-scale fish farmer in Esit Eket Local Government Area is optimistic of growing his business beyond the level it has been since he established it in February, 2021. He laments the difficulty of obtaining credit from banks who ask for security he cannot provide.

“This business is lucrative, but it’s capital intensive,” he said. “Inability to access loan facilities from banks has made it difficult for me to grow the business beyond the level I set it up more than two years ago.”

He believes that accessibility to credit facilities by farmers in the state would enable them to adopt mechanized farming and operate on a larger scale like their counterparts in some northern states, for greater farm yield and increased food production. Besides, it would make agriculture attractive enough for more people to see it as a business, especially because of its multi-dimensional nature. “We are talking about a wide range of sub-sectors like crop farming, aquatic farming, livestock, snail farming and many others,” Udosen said. “These sub-sectors can individually provide food and create employment.”

With the A.R.I.S.E. agenda, Eno is trying to revive what had been a tradition among people in that part of the country before the advent of oil – agriculture – on a scale never before seen in the state. He hopes to fully exploit the state’s agricultural endowments, which include a coastline that stretches 129 kilometers from Oron to Ikot Abasi – the longest in Nigeria – to build a state where food security would be guaranteed for the people of the state and future generations.

Akwa Ibom Governor Umo Eno

Air PeaceThrows Light on Its International Operations

Chinedu Eze

Nigeria’s major carrier, Air Peace has thrown light on its international operations, disclosing that it is in the International Air Transport Association (IATA) clearing house and has the right equipment and personnel to operate international service.

IATA clearing house is a service that provides settlement services for the air transport industry. It collects and distributes payments among airlines and other participants, using the principals of off-set and netting.

IATA clearing house eliminates customer credit risks and foreign exchange risks and ensures 100 per cent on-time payment in hard currencies and only airlines that meet critical international standards that are admitted into the IATA clearing house.

Spokesman of the airline, Stanley Olise explained this when he reacted to a recent interview granted by a stakeholder in the industry who said that Nigerian airlines cannot succeed in international operation because they are not in IATA clearing house and also that they operate point to point.

According to him, that was obvious expression of ignorance by the stakeholder “who spoke authoritatively about how Nigerian airlines are going to fail, as he is known to do, always predicting how Nigerian carriers are going to fail and how he has the magic wand to stop the failure if he is consulted. But he does not know that Air Peace is in IATA clearing house!”

Olisa said that Air Peace has what it takes to succeed on international routes and has forged strategic foreign operational alliances to sustain its overseas services.

By lauding another airline in the said interview, which he said is operated professionally because the airline has indicated its interest to operate regional service, Olise said this is the old strategy to pit Nigerian airlines against one another, which in recent times has failed woefully because the airlines have realized that some of those who strut around as industry experts waiting to be consulted do not mean well for the airlines.

“We are not in the business of prosecuting campaigns of calumny on other airlines but for the so-called

industry expert to gloss over Air Peace, the only Nigerian airline operating regional and international flights for over six years, is not only unfair but is reflective of those old games that have stopped working,” Olisa said.

The stakeholder stressed that point-to-point operational model does not allow Nigerian airlines to succeed on international routes.

“We agree with him that the model has its limitations but he failed to add or realise that Nigeria does not have transit facilities at international airports. Air Peace operates connecting flights such as Lagos-Banjul-Dakar and Lagos-Accra-Monrovia. Besides, Nigerian airlines are pushing that the Nigerian Immigration Service should recognize transit passengers and not insist that they obtain Nigerian visa before connecting their flight. We hope that things will change when transit facility is built at out airports and the Nigerian Immigration Service is in the same page with us about transit passengers. That is even when we would be ready to benefit from Single African Air Transport Market (SAATM).

MTN Foundation Awards Scholarships to 1,011 Nigerian Students

Emma Okonji

MTN Foundation through its annual scholarship initiative has awarded scholarships to 360 undergraduate Nigerian students in addition to 651 current scholars, totalling 1,011 scholars.

The awardees were celebrated at award ceremonies held in Port Harcourt, Lagos and Abuja. Special Adviser to the Lagos State Governor on Taxation and Revenue, Abdulkabir Ogungbo, Vice Chancellor, Rivers State University, Professor Nlerum Okogbule, Chairman, House Committee on Telecommunications, Honourable Peter Akpatason and other notable dignitaries were present at the different ceremonies.

The annual scholarships

recognise and reward highperforming students in Nigerian public tertiary institutions. They are usually presented to three categories of students - undergraduates in science and technology-related courses; blind students in any field of study and the top 10 candidates of the Unified Tertiary Matriculation Examination (UTME) in Nigeria.

Through this initiative, 4,590 Nigerian students have received scholarships valued at N 3 billion in the last 12 years.

Speaking at the Lagos event, the Chairman of MTN Foundation, Prince Julius Adelusi-Adeluyi, said:

“This initiative was established with the belief that every individual –regardless of background or socio-economic status – deserves the opportunity to pursue their

Safety, Fair Returns: Why PFAs Invest Pension Funds in FG Bonds

Nigeria’s pension fund landscape is witnessing a robust investment strategy as Pension Fund Administrators (PFAs) diligently allocate pension fund assets to Federal Government bonds and other eligible securities. This approach adheres to the guiding principles of pension fund investments set forth by the Pension Reform Act 2014 (PRA 2014). As of August 31, 2023, Nigeria’s total pension assets under management amounted to an impressive N17.29 trillion.

dreams through education, which has a profound impact on shaping minds, fostering innovation and driving societal change.

“It is imperative to empower the next generation of trailblazers, problem solvers and African visionaries. This is why we support blind students, top 10 UTME candidates and top-performing STEM students by facilitating access to education and providing tools and resources to help them thrive academically and professionally.”

Deputy Governor, Lagos State, Dr. Kadri Obafemi Hamzat, in his speech delivered by Special Adviser to the Governor of Lagos State on Taxation and Revenue, Abdulkabir Ogungbo, commended the Foundation for its commitment to contribution to the development of its host communities.

Terragon, Microsoft Partner to Grow African Businesses

Raheem Akingbolu

A three-year partnership has been sealed between Terragon and Microsoft to enable business owners in Africa to have access to a wide range of customer insights. According to a joint statement issued by the two partners, the three-year agreement will further Terragon’s work in the marketing technology (MarTech) space, while also driving Microsoft’s ambition to enable digital transformation using the cloud. Terragon is a leading data and marketing company with a mission to build Africa’s largest and most unique data-powered marketing cloud ecosystem to help businesses on the continent better understand their customers. The marketing company leverages data and

technology to help brands reach, engage and deliver more meaningful mobile experiences to consumers.

Using cloud-based solutions, Terragon is able to provide its customers with in-depth analytics and insights into customer engagement that better tells the story of the African consumer. Terragon’s customers include both enterprises and SMBs that cover a range of industries such as fast-moving consumer goods (FMCG), financial services and consulting services. The company supports brands in the management of first-party data, and improved targeting and segmentation to deliver personalised engagements online and offline.

The partnership with Microsoft will support Terragon’s vision of using innovation to make mobile meaningful while also helping

businesses on the continent to harness the power of cloud technology.

“We evolved into an enterprise solution company in 2018, and since then we’ve worked with a wide spectrum of over 30 multi-national enterprises and 8,000 SMBs, helping them achieve better ROI on their marketing spend and improving customer experience through the power of data-driven marketing,” said Chimezie Okonkwo, Senior Vice President of Data, Infrastructure, and Platforms at Terragon.

General Manager, Africa Transformation Office at Microsoft, Gerald Maithya, emphasised that the collaboration underscores Microsoft’s dedication to fostering sustainable digital growth in Africa.

Furex Set to Revolutionise Digital Assets Trading with New App

Furex Technologies has launched a new app that will revolutionise crypto and digital assets trading, with a focus on seamless crypto and other digital assets transactions, multi-currency support, and enhanced security.

The Furex App launch, which took place at Jewel Aeida Events Centre in Lekki, Lagos last week, marked a pivotal moment in the digital finance industry.

In his opening statement, Founder and CEO of Furex Technologies,

Fure Eviosekwofa, said: “The Furex App represents the culmination of our vision for a more accessible and efficient crypto and digital assets trading experience. It’s a step towards financial freedom for all.”

Head of Marketing at Furex, Alfred Jarikre, said: “This event is not just about launching an app; it’s about launching a movement. Furex is committed to building a diverse and dynamic crypto community, and our brand ambassadors are a testament to that commitment.”

Product Manager at Furex, Damilola Olatoye, who shared

insights into the app’s features, said: “The Furex App is designed to simplify crypto trading. It eliminates the need for users to wait for suitable buyers and sellers and automates the trading process, making it accessible to users of all levels.”

The event provided a first look at the Furex App’s user-friendly interface, innovative features, and the unveiling of four influential brand ambassadors from the entertainment and lifestyle space including Ola of Lagos, Isokoboy, Classy Jesters and Anthon Umeh.

Pension fund assets in Nigeria are managed by licensed PFAs and safeguarded by Pension Fund Custodians (PFCs) in line with the provisions of the PRA 2014. The primary guiding principle of investing pension funds is to ensure safety and maintenance of fair returns, with a prohibition on borrowing or lending pension fund assets.

The allowable instruments for investing pension funds, as outlined by the PRA 2014, include bonds, Sukuk, Treasury Bills, and other securities issued by the Federal Government of Nigeria and the Central Bank of Nigeria (CBN), or their respective agencies. Additionally, Special Purpose Vehicles and Companies created or owned by the Federal Government of Nigeria are eligible, provided these securities are guaranteed by the CBN or the Federal Government of Nigeria. Other allowable instruments for investment of pension funds include State Government Securities, Corporate Bonds, Money Market Instruments, Equities, Real Estate Investment Trusts (REITs), Infrastructure Bonds, Private Equity and Venture Capital as well as Open-End and Closed-End Funds.

At the end of August 2023, Nigeria’s pension assets increased by N530.79 billion (3.17%) from June 2023. Out of the net pension asset of 17.29 trillion, N11.47 trillion is invested in Federal Government Securities. This comprises N10.99 trillion in Federal Government Bonds, N211.77 billion in Federal Government Treasury Bills, N11.02 billion in Agency Bonds (Nigeria Mortgage Refinance Company), N154.76 billion in Sukuk Bonds, and N98.55 billion in Green Bonds. The remaining investments are in money market instruments, corporate debt securities, quoted equities and other asset classes.

In line with global best practice, Federal Government Securities are considered safe and are usually a significant portion of pension fund investments. In Nigeria, Federal Government Bonds are considered the safest investment in the domestic debt market due to their backing by the ‘full faith and credit’ of the Federal Government. They are deemed risk-free, ensuring certainty in interest and principal payments. Furthermore, the interest income earned from these bonds is tax exempt. Since the establishment of the Contributory Pension Scheme (CPS), the Federal Government has consistently met its obligation to repay pension funds invested in its bonds along with all accrued interests, without any defaults.

It is important to clarify that investments in Federal Government securities are not direct loans to the government; PFAs have the liberty to divest from these securities according to the Regulation on Investment of Pension Fund Assets. It is significate to not that investments in Federal Government

bonds are not exclusive to PFAs as other institutional investors also invest in the bonds.

The PRA 2014 underscores that PFAs must manage pension funds in the best interest of retirement savings account holders. All investments in eligible securities and corporate entities are ‘ring-fenced,’ meaning they belong exclusively to the RSA holders and other pension beneficiaries and cannot be appropriated to any individual or related party of the PFA.

To ensure compliance with the PRA 2014, each PFA is required to establish an Investment Strategy Committee and a Risk Management Committee. These committees play a crucial role in formulating internal investment strategies and assessing acceptable risk profiles for investment portfolios, respectively. They are vital components of a comprehensive risk management system that ensures the safety and stability of pension fund investments.

It is noteworthy that pension funds invested in Federal Government bonds have aided in deepening the Nigeria’s financial sector and provided a platform for attaining strategic programmes of Government in the areas of infrastructure and real sector of the economy. It is evident from the vibrant pension industry in Nigeria today that the objectives of the pension reform have been significantly achieved in the areas of accumulation of long-term savings for Nigeria, as well as transparency and efficiency in funds management and benefits administration.

Generally, pension funds around the world invest in a diverse range of assets. In Chile, from where Nigeria adopted the CPS, Government bonds account for the highest investments using pension funds. Similarly, Pension asset managers in many countries prioritise investments in defensive assets, including fixed interest securities such as bonds and treasury bills. These assets offer stable income at a lower risk level, which suit the moderate risk appetite of pension funds. Consistent with the investment culture in Nigeria’s pension landscape, countries such as Singapore, Korea and India have invested 90% of their pension funds in defensive assets, mostly Government bonds. Asset allocation decisions are made to achieve safety and fair returns.

In summary, the strategic investment of pension funds in Federal Government securities demonstrates a prudent approach by PFAs, aligning with the overarching goal of ensuring the safety and fair returns for the retirement savings account holders and other pension beneficiaries.

PENCOM DG, Aisha Dahir-Umar

Emma Okonji

Red Star Express Grows Profit, Dividend Despite Competition

Kayode Tokede

Red Star Express Plc survived a surge in courier/freight/delivery business segment in 2023 financial year, reporting double-digit growth in revenue to boost its profit and declared dividend to shareholders who invested in the company.

The group’s continuous and relentless pursuit of efficiency and cost-effective management impacted profit and translates into shareholders’ return on investment.

In the financial result and accounts for period ended March 31, 2023, Red Star Express declared N13.87billion revenue, representing an increase of 10.08 per cent from N12.60 billion reported in 2022 FY.

The breakdown showed that Red Star Express generated N7.26billion revenue from Courier in 2023 from N7.4billion in 2022, while revenue from logistics stood at N2.47billion in 2023, an increase of 34.7 per cent from N1.83billion in 2022.

The group declared N2.352billion from freight in 2023, an increase of 37.4per cent from N1.71billion in 2022, while revenue from support services stood at N1.8billion in 2023 from N1.66billion reported in 2022.

In all, revenue from Courier contributed 52.3per cent to N13.87billion revenue in 2023 from 58.7per cent in 2022 financial year.

From the profit & loss figures, Red Star Express reported N10.06billion cost of sales in 2023, an increase of 4.3 per cent from N9.65billion in 2022, driven primarily by N2.45billion international delivery costs in 2023 from N2.23billion in 2022 and N2.06billion vehicle running costs in 2023 from N1.41billion in 2022.

The interplay between revenue and cost of sales positioned Red Star Express gross profit to N3.81bbillion in 2023, a growth of 29 per cent from N2.95billion in 2022. The growth in gross profit brings Red Star Express gross profit margin to 27.5per cent in 2023 from 23.41per cent in 2022.

The group’s administrative expenses increased to N3.22billion in 2023 from N2.51bbillion in 2022, while impairment (loss)/reversal on financial assets dropped to N23.54million in 2023 from N108.36million in 2022 financial year.

Other non-core business transactions stood at N62.71million in 2023 from N153.2million in 2022,

as Sundry income dropped to N36.46million in 2023 from N122.5million reported in 2022, while Profit on disposal of property, plant and equipment stood at N17.74million in 2023, representing an 101.9 per cent increase from N8.78million in 2022.

Sundry income relates to recovery of bad debt and insurance claims received.

Operating profit, thus, stood at N636.61million in 2023 from N479.6million in 2022.

Red Star Express announced net finance cost of about N43.19million in 2023, a decline of 34.3 per cent from N65.74million in 2022, amid 38.5 per cent decline in finance cost to N43.7million in 2023 from N71.02million in 2022, while finance income dropped to N505,000 in 2023 from N5.27million reported in 2022.

finance cost breakdown showed a N6.62million interest on bank loans in 2023 fromo N7.3million in 2022, while interest on lease liabilities dropped too oN8.39billion in 2023 froom N49.33milllion in 2022.

In addition to finance cost, Redstar Express declared N28.7millin net exchange loss in 2023 from N14.37million reported in 2022.

In all, Red Star Express declared N593.42million profit before tax in 2023, an increase of 44 per cent from N413.86million in 2022, while profit stood at N313.9million in 2023, representing an increase of 257 per cent from N87.81million posted in 2022.

With the increase in profit, the management declared 20kobo per 50kobo share as dividend in 2023 financial year from 7.5kobo per 50kobo share declared in 2022.

Finally, the company’s earnings per share for the period under review was 33 kobo compared to 9 kobo for preceding financial year.

Stronger financial position

Red Star Express in 2022 financial year declared N8.66billion total assets, representing an increase of 11.7per cent from N7.75billion in 2021, driven by per cent growth in current assets.

The Group’s current assets stood at N4.9billion in 2022, a growth of nearly 11 per cent from N4.42billion in 2021, while

non-current assets closed 2022 financial year at N3.76billion, a growth of 13 per cent from N3.33billion in 2021.

Total equity stood at N4.58billion in 2022 from N4.19billion in 2021, driven by N2.58billion retained earnings in 2022 from N2.2billion in 2021. Also, total liabilities of Red Star Express grew by nearly 15 per cent to N4.08billion in 2022 from N3.56billion in 2021. The group’s non-current liabilities stood at N517.08million in 2022 from N482.67million in 2021, while current liabilities rose by nearly 16 per cent to N3.56billion in 2022 from N3.088billion in 2021.

The working capital of Red Star Express currently at N1.34billion as of 2022.

CONCLUSION

Capital market analysts have urged investors to buy Red Star Express stock on Nigerian Exchange Limited (NGX) as the current price remained attractive and the management dividend payout policy.

Recently, the Chairman, Red Star Express, Suleiman Barau said company has always prioritized the creation of shareholder wealth and have maintained a steadfast commitment to rewarding our valued investors.

Speaking on the company’s future prospect at 13th Annual General Meeting in Lagos, Barau said, “As we look ahead to the new financial year, we hold a positive outlook for our company amidst the stabilization of the Nigerian economy.

“We welcome the market principles being adopted by the new government. With the removal of subsidies from petroleum products, improved foreign exchange dynamics, and efforts to control inflation, we anticipate a more stable and predictable business environment that will facilitate better performance and growth opportunities.

“Nevertheless, we are not oblivious to the challenges that may arise due to the opportunities presented by the ever-changing socio-economic dynamics, both domestically and globally. However, the board and management of our company remain optimistic, having strategically invested in various initiatives to strengthen our

position in the market.”

Consequently, the Group Managing Director/CEO, Redstar Express, Auwalu Babura maintained that the continuous and relentless pursuit of efficiency whilst engaging in core business activities remains the management’s strategic focus at this time and beyond. According to him, “Red Star Express will focus on four important areas namely; Service Delivery, Brand Management, Business Expansion and Development and Leveraging on Technology.

“The company has implemented a strategic approach to cost optimization, particularly in response to the volatile increase in foreign exchange rates impacting our international transactions with FedEx. We have now shifted to remitting funds in the local currency, naira.

“This proactive measure aims to mitigate the effects of exchange rate fluctuations, providing us with greater stability and relief from currency-related pressures. This strategic decision reflects our commitment to prudent financial management and reinforces our ability to navigate challenging economic conditions with resilience and confidence.

The company remains a customer led organization. We will continue to optimize our operations and cost management with the goal of improving our customers and consumers experience from the first and to the last mile. The coming year will also see a review and audit of our product lines with the aim of increasing profitability through aggressive marketing support and business expansion into new markets.

“We will also be innovation-driven through the continuous scale of our investments in technology, business process re-engineering and innovative logistics solutions. We intend to be bigger and above all better in this coming financial year!.”

On future prospects, he said, “The company is poised to take advantage of the opportunities in the logistics and supply chain market going forward. The company will continuously pursue opportunities in Warehousing, Logistics, Digital and Mobile Commerce while deepening its brand presence and relationship with partners in the traditional courier, express and parcel segments of the industry.”

PenCom Net Pension Assets Stand at N17.292tn

Ebere Nwoji

The National Pension Commission (PenCom), has said that the net asset value of pension assets currently stands at N17.292 trillion as against over N2 trillion pension deficit hanging around the pension sector before the advent of the Contributory Pension Scheme (CPS) in 2004.

The commission said the above figure was the total fund accruing from pension contributions in the country under the CPS as at August 31,2023.

The commission said this represents a significant growth of 15.34 per cent when compared to the N14.99 trillion figure of accumulated pension assets as at December 31;2022.

PenCom disclosed these at an interactive session on the Contributory Pension Scheme for the Organised Private Sector (OPS).

Speaking at the session, the Director General PenCom, Aisha Dahir-Umar, told members of the OPS that the pension industry was one of the fastest-growing financial sectors in Nigeria.

According to her at the end of the third quarter of 2023, the number of RSAs under the CPS stood at 10

million and the size of the pension Asset Under Management amounted to N16.76 trillion.

“The Commission has continued to take giant strides towards ensuring the smooth implementation of the CPS through the revision of existing regulations and guidelines and the development of new ones. Specifically, the commission deployed the Enhanced Contributors Registration System (ECRS) for the pension industry. Following, the deployment of the ECRS, the Commission also introduced the Data Recapture Exercise (DRE), which mandatorily requires all RSA holders who joined the CPS prior to the 1st of July 2019 to update their information with their respective Pension Fund Administrators (PFAs). Accordingly, the commission has consistently urged RSA holders to approach their PFAs for data recapture”.

She said in order to facilitate the implementation of Section 13 of the PRA 2014, which allows an RSA holder to transfer his/her RSA from one PFA to another at least once in a year, the commission developed and deployed the RSA Transfer System (RTS) in 2020.

According to her, the RTS is a computer-based application for initiating, processing, and monitoring the RSA Transfer process. It also ensures the seamless transfer of RSAs from one PFA to another. Amongst others, the PenCom DG said the opening of the RSA transfer window had continued to improve the quality of service delivery by

the PFAs. She further said PenCom, in order to ensure that RSA holders own a house during their work life, had released the Guidelines on accessing Retirement Savings Account (RSA) balance towards payment of equity contribution for residential mortgage by RSA Holders. She told the OPS members to

recall that following the enactment of the PRA, the Commission was saddled with the responsibility of supervising the transfer of the Nigerian Social Insurance Trust Fund (NSITF) contributions of employees into their respective RSAs under the CPS.

“To date, contributions worth N10.20 billion have been transferred

to the RSAs of 142,486 NSITF Scheme contributors. Thus, in order to ensure that all contributors under the NSITF scheme have their NSITF contributions transferred to their RSAs, the Commission had severally featured advertorials in National Dailies requesting NSITF contributors to apply for the transfer of their contributions.

Ministers Reel Out Measures to Achieve Food Security, Grow Agriculture

James

Emejo in Abuja

The Minister of Agriculture and Food Security, Senator Abubakar Kyari, has unveiled the immediate, short, medium, and long-term measures to reset agriculture as well as achieve the food security mandate of President Bola Tinubuled administration.

Among the immediate interventions is the implementation of the dry season wheat production starting in November as part of the National Agricultural Growth Scheme and Agro Pocket (NAGS-

AP) projects funded by the African Development Bank.

The scheme is expected to produce 875,000 metric tonnes of wheat for the country’s food reserve on over 70, 000 hectares across the wheat-producing zones in the country.

Speaking at a media briefing over the weekend on the way forward for the Nigerian agriculture sector towards delivering on the renewed hope agenda of President Bola Tinubu, Kyari, alongside the Minister of State, Agriculture and Food Security, Aliyu Sabi Abdullahi, said the government is making efforts

to reclaim lands lost to terrorists for the purpose of farming.

Kyari who had insisted that hunger remained one of the country’s major challenges, said part of the plan was to also fund the production of improved seeds, boost support for smallholder women farmers across the country, make agriculture attractive to youths, and drive mechanisation of the sector.

He said under the new dispensation, the enumeration of smallholder farmers would be key to properly channeling government interventions.

The minister noted that the immediate priority of the government was to guarantee the country’s food security even before talking about exporting to other countries.

He said, “The most pressing actions we are currently handling is preparation for the next dry-season farming beginning from November 2023.”

He said the package also included the blending of appropriate fertilizers to support this year’s dry season farming while making provisions for next year’s farming season well in advance.

FITC Tech4Growth Techathon Harnesses African Talents for Growth

Oluchi Chibuzor

Financial Institutions Training

Centre (FITC) has ignited innovation through the launch of its much-awaited FITC Tech4Growth Techathon.

The highly anticipated FITC Tech4Growth Techathon kicked off with a soaring turnout of distinguished judges, mentors, tech visionaries, and eminent figures from both the tech and financial services sectors, all converging to discuss the theme:

“Tech4Growth: Building Africa with Talents.”

The Techathon is one of FITC’s many innovative offerings targeted at youths and young people, aimed at equipping them with the essential skills and engagements required to thrive in the digital economy.

The panel session moderated by MD/CEO, FITC, Chizor Malize, featured Technology experts and digital enthusiasts such as Iyinoluwa Aboyeji, CEO, Future Africa; Ashley Immanuel, COO, Semicolon; Iklima Musa Salihu, Special Assistant to the Director General (Strategy and Innovation) at the National Information Technology Development Agency (NITDA); Nkemdilim Uwaje Begho, CEO, Futuresoft, and Charles Emembolu, CEO, Crestsage Limited. Managing Director/CEO, FITC, Chizor Malize, emphasized the need to build a

sustainable talent ecosystem to achieve sufficient digital growth and technology development across Africa. She highlighted FITC’s intervention through the recently Launched TECH4Growth iEARTH Techathon, an acronym representing Innovation for Environment, Agriculture, Renewable Energy, Transportation, and Healthcare.

“The FITC Techathon would empower young minds from across Africa to embark on projects in critical domains, developing apps, businesses, innovations, and solutions. The transformative ideas from the Tech4Growth Techathon would then materialize into impactful projects and business opportunities, all under the guidance of over 28 mentors and judges” she added.

Managing Director/CEO of Sterling Bank, Abubakar Suleiman, who was represented by Taiwo Aluko, CIO, Sterling Bank highlighted the critical role of technology and innovation in Africa’s growth trajectory.

He emphasized the potentials that can be harnessed with the nation’s talent pool and the increasing need to create tech jobs in Africa in order to accelerate economic growth. He stressed the need to empower youths to pioneer technological innovation for continental growth.

The COO of Semicolon,

Ashley Immanuel, underscored Africa’s monumental potential.

Echoing Immanuel’s sentiments, the CEO of Futuresoft, Nkemdilim Uwaje Begho, emphasized the need for a mindset shift from traditional resources like oil and gas and the financial sector to nurturing the abundant wellspring of young African talents. She called for policies that promote talent investment and make technology a central driver of socioeconomic development across various sectors. Begho further implored stakeholders to explore innovative models to leapfrog traditional approaches and position Africa for a prosperous tomorrow. “Africa is rising, and the critical factor is what we are doing today to be ready for tomorrow” she enthused.

CEO of Crestsage Limited, Charles Emembolu, highlighted the existing gaps in various sectors due to the underutilization of technology. He astutely noted that some sectors have not yet recognized the depths of opportunities technology can unlock for them.

Special Assistant to the Director General (Strategy and Innovation) at the National Information Technology Development Agency (NITDA), Iklima Musa Salihu, provided valuable insights into the agency’s relentless efforts to develop and regulate IT in Nigeria.

Access Pensions Encourages Early Retirement Planning

Nume Ekeghe

Access Pensions, a leading pension provider, is urging young adults to take proactive steps toward securing their financial future through early retirement planning.

The firm is also reaffirming its commitment to enabling clients to seamlessly access 25 per cent of their Retirement Savings Account (RSA) for mortgage financing, leveraging its in-house expertise.

This call to action was the highlight of a recent webinar organised by Access Pensions, titled “Navigating Your Financial Future: Demystifying Pensions, Investments, and Benefits.” During this informative event, key experts shared valuable insights and advice.

The Vice President, Business Development, Lagos at Access Pensions, Adaora Ude encouraged young individuals, particularly those aged 21 to 24, not to underestimate the

significance of early retirement planning. She emphasized the advantages of commencing savings at a young age and highlighted the benefits of additional voluntary contributions as a means to achieve financial goals in retirement.

Ude stated, “Young people from ages 21 to 24 probably think that they are too young to have a pension plan. The truth is that – Time is a big factor and must be utilized effectively. You need that advantage of time and the power of compounding to be able to start you off to a successful retirement. This way, you can shape your future, the way you desire.”

Chief Investment Officer at Access Pensions, Wale Okunrinboye, delved into the investment aspect of pensions, elucidating the diverse fund options available to cater to varying risk appetites, including ethical funds. He emphasized Access Pensions’

MARKET INDICATORS

commitment to generating strong returns for its clients through a long-term approach.

He said: “Our philosophy is long-term because pension funds by nature are long-term. So, we are always thinking of sustainability and ensuring that we focus on systems that generate strong returns for our clients. Overall, consistent and competitive returns is our goal”

On her part, Business Manager, Private Clients and Products at Access Pensions, Yetunde Olumuyiwa outlined the process and criteria for accessing 25 per cent equity for mortgages.

Head of Benefits Administration at Access Pensions, Zainab Bello, discussed the process of accessing pension benefits, gave insights on the retirement calculator as a valuable tool for planning retirement finances, and emphasised the significance of effective financial planning for a secure retirement.

Amoukhuede Foundation Applauds GBCHealth’s 26 Years of Impact

The Aig-Imoukhuede Foundation, a public sector-focused philanthropic organisation, was a key sponsor of the Global Business Coalition for Health’s (GBCHealth) ‘Celebrate’ event, which was recently held in New York amidst the backdrop of UNGA78. GBCHealth is a not-for-profit organisation that has been working with businesses, governments, NGOs and entrepreneurs since 1997 to improve health equity worldwide, impacting millions of people in its fight against HIV, tuberculosis and malaria and through its focus on maternal, child and adolescent health.

In response to the evolving development landscape and a growing emphasis on supporting

local organisations, GBCHealth announced its decision to conclude its U.S. operations by the end of 2023.

This strategic shift aligns with a vision for fully African-led efforts to drive sustainable improvements in global health. The ‘Celebrate’ event, which was held to celebrate and mark GBCHealth’s 26 years of impact, was attended by a host of partners and beneficiaries.

A highlight of the evening was the recognition of organisations that had partnered with GBCHealth to contribute to enhancing global health outcomes. Some noteworthy organisations recognised include Access Bank Plc and the Aliko Dangote Foundation, for their

Money

outstanding contributions to the African health landscape.

Also recognised was the Chairman of the Aig-Imoukhuede Foundation, Aigboje AigImoukhuede CON, who received the ‘Leadership and Vision for Global Health Transformation’ award for his commitment to improving healthcare outcomes across Africa. In his acceptance speech, Aigboje Aig-Imoukhuede applauded GBCHealth for its work in ensuring better global health outcomes and emphasised the importance of collaborative efforts between philanthropic organisations and global health advocates to drive meaningful change in healthcare access and quality.

The price of OPEC basket of thirteen crudes stood at $97.48 a barrel on Thursday, compared with $97.08 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).

From left: Founder & CEO, Nexford University, Fadl Al Tarzi; Managing Director/ Chief Executive Officer, FITC, Chizor Malize; Country Director, Nigeria, Nexford University, Oghogho Inneh and Company Secretary, FITC Alaba Ekundayo at the FITC - Nexford Partnership Media Roundtable held in Lagos...recently

VFD Group Targets N300.61bn in Total Assets by 2025, to Raise N12.5bn

KayodeTokede

Amid a successful listing on the Nigerian Exchange Limited (NGX), the management of VFD Group Plc said it is projected N300.61billion in total assets by 2025 and N5.83billion dividend payout to shareholders in the same period.

The proprietary investment company that focuses on building positive and socially

conscious ecosystems by aggregating potentially viable businesses to create innovative products and solutions accessible to the everyday Nigerian citizen and entrepreneur, also projected N53.54billion and N16.44billion profit before tax and gross earnings, respectively by 2025.

The company also announced plans to raise N12.5 billion via rights issue from the capital

market.

Engaging investing public and capital market communities at the facts behind the listing in Lagos recently, Group Managing Director/CEO of VFD Group, Nonso Okpala said the company over the years-maintained dividend payout policy and utilized the remaining generated profit on forward investment.

He noted that the total as-

sets of VFD Group comprises of total equity and debt.

According to him, “In 2020, on the count of total asset, we were at N81billion. We were about N149 billion in 2022. We project that in three years’ time will be at about N300billion in total assets.”

Okpala noted that the management of VFD Group is delighted to be listed on NGX and seeks to raise almost

immediately N12.5 billion via rights issue from investing public. Giving reasons why investors should invest in VFD Group, he said the group has maintained consistent dividend payout, level of adherence to governance, refinancing gain, and strategic divestments.

The company listed N45 billion in market capitalization

on the main board of Nigerian Exchange Limited (NGX), to further enhanced liquidity in the Nigerian capital market and providing opportunities for wealth creation.

The listing on NGX is a strategic move to increase VFD Group’s visibility, enhance its access to capital, and improve its liquidity, ultimately benefiting its valued investors and stakeholders.

PRICES FOR SECURITIES TRADED ASOF OCTOBER/6/23

HOMES & DESIGN

Seplat Energy Opens Corporate Office at World Trade Centre Abuja

One of the prominent players in Nigeria’s oil and gas sector, Seplat Energy, has moved its corporate office to the World Trade Centre Abuja, a prestigious real estate Complex located at the heart of the Central Business District of the Federal capital, Abuja, writes Bennett

The WTC Abuja, comprising luxury office and residential towers of 24 floors each, has emerged as the choice of high-profile corporate organisations, making it their preferred office address.

The decision by Seplat Energy to establish its presence in WTC Abuja Office Tower is seen by oil and gas industry watchers as a strategic move which will enable Seplat Energy to leverage the thriving business ecosystem of Abuja from the WTC Abuja, a premier business destination, offering world-class facilities and amenities for corporate organisations and an emerging hub for global business in the FCT.

With the other oil majors operating their corporate offices in Abuja’s Central Business District, Seplat Energy has reaffirmed its position as a key player

in Nigeria’s energy sector with a commitment to regional growth and expansion.

Karim Ahmed, Vice President at WTC Abuja, said, “We are thrilled to welcome Seplat Energy as the latest member of our esteemed resident business community at the World Trade Center Abuja.”

He explained that the collaboration with high net-worth organisations which have berthed their offices at the World Trade Centre Complex reflects the quality and prestige of WTC Abuja commercial spaces.

He added, “Our dedication to providing a conducive environment for businesses to grow and flourish.”

Ahmed believes that Seplat Energy’s presence at WTC Abuja Towers will contribute to the

ongoing economic advancement of Abuja and Nigeria as a whole.”

Seplat Energy’s choice of WTC Abuja as its new corporate office aligns seamlessly with the vision to make it a centre of nurturing a dynamic and vibrant business community for Nigeria and the West Africa sub-region. With its cutting-edge facilities, strategic location, and commitment to sustainability, WTC Abuja Commercial Towers offers an unrivalled workspace for innovative and forward-thinking organisations.

Victory Thompson Towoju, Regional Sales Manager at WTC Abuja, added, “With Seplat Energy joining esteemed businesses at our facility, the World Trade Center Abuja continues to stand as an unparalleled hub for business

leaders, boasting awe-inspiring views, resort-style amenities, and a global standard of luxury and distinction.

“This is why discerning professionals from diverse industries, including capital markets, oil and gas, asset management, the security sector, and international non-governmental organisations, choose WTC Abuja. We foster business synergies by not only connecting individuals but also linking ideas and potential opportunities.”

WTC Abuja is the only grade-A mixeduse real estate development in the heart of Nigeria’s capital city, Abuja. WTC Abuja is designed to cultivate a thriving business ecosystem for all of Nigeria, offering worldclass office spaces, conference facilities, and an array of amenities.

Oghifo

Uviase: Why Govt Should Revert to Managed Float FX System

Mr. Andrew Uviase is the Managing Partner of Ecovis OUC (Chartered Accountants), a leading consulting firm specializing in tax, accounting, auditing, and compliance services. He holds a Master’s Degree in Economics, specialising in Money and Banking. He is a fellow of the Institute of Chartered Accountants of Nigeria as well as the Chartered Institute of Taxation of Nigeria. With his extensive industry experience, Uviase is committed to driving growth and excellence in Nigerian businesses through Ecovis OUC’s transformation and integration into the global Ecovis network. In this interview, he sheds light on the significance of the rebranding and the benefits it holds for the business community and clients. Oluchi Chibuzor brings the excerpts:

Can you explain the significance of Kreston OUC’s transformation into Ecovis OUC for the Nigerian business community?

Certainly. This transformation marks a pivotal moment for the Nigerian business landscape. By adopting the name Ecovis OUC, we align ourselves with the global Ecovis network, renowned for its Continental European heritage and exceptional expertise and service delivery. This transition brings together international excellence with local insights, offering Nigerian businesses unparalleled consulting services tailored to their unique needs and challenges.

What benefits can Nigerian businesses expect from this rebranding?

The benefits are manifold. Firstly, our integration into the Ecovis network grants Nigerian businesses access to a wealth of international expertise, while retaining the advantage of local insights. This ensures a seamless navigation of both global and local intricacies. Secondly, our bespoke solutions cater comprehensively to businesses of all sizes, addressing, fiscal, managerial, and administrative concerns. Moreover, the personalised consultation we provide, supported by a network of over 10,000 experts worldwide, ensures clients receive well-rounded solutions for their distinct challenges.

At Ecovis, our strength lies in our ability to truly understand our clients, extend a helping hand, and communicate in a language that resonates with them. We go beyond the role of mere advisors; we aspire to be genuine business partners. Our aim is not only to assist clients in navigating challenges or finding solutions but to proactively showcase the potential that can drive their success. This proactive approach is embedded in our DNA. When we speak of partnering with our clients, we also mean that the entire Ecovis network partners with them. This collaboration ensures that wherever their ventures take them, we are there as guides, facilitating well-informed business decisions. Our commitment to our clients is unwavering. We take the time to truly know them, immersing ourselves in their operations, understanding their organisational intricacies, and meeting their unique demands. Our connection to the extensive Ecovis network across the globe empowers us to cater to their requirements across different jurisdictions whenever the need arises.

How does Ecovis OUC plan to enhance its service offerings?

Delivering exceptional consulting services has always been our forte. With our transition to Ecovis OUC, we commit to expanding and refining our service spectrum. Leveraging our integration into the Ecovis network, we will use technology and human expertise to deliver superior service. As you may be aware, Ecovis is a member of Forum of Firms which is a grouping of top rate global accounting Firms that have recognised procedures to execute audit. Ecovis is fully aligned and integrated with global information network for cross border tax solutions like Transfer Pricing and Tax treaties, thus enabling us to offer even more specialised solutions finely tailored to the Nigerian business landscape.

Could you shed light on Ecovis OUC’s approach to personalised consultation?

In Ecovis, we believe that the best ideas are born through dialogue. That is why we prefer to talk with our clients face to face and partner with them. In business, be it national or international, success depends on having a partner you can deal with, working at the same

level and with an extensive understanding of your concerns and opportunities.

Your personal advisor at Ecovis is himself an experienced business person. Together, you share a common bond on which trust and mutual respect are developed, which allows your business to reach its full potential.

At Ecovis OUC, we recognise that every business is unique. This is why we assign each client a personal advisor—an adept business professional who understands both local intricacies and international trends. These advisors have immediate access to our expansive network of experts, ensuring clients receive holistic solutions finely attuned to their specific requirements. We are always at the deal table with our clients. That is the entrepreneurial approach to consulting. We are Partners with our clients in finding the unique solutions to their business challenges.

How does Ecovis OUC’s transformation impact businesses on a local level?

The transformation to Ecovis OUC presents Nigerian businesses with a distinct “home advantage.” Operating in over 80 countries, including Nigeria, we are poised to offer immediate international and local support. Whether yours is an established international business dealing with cross border issues, a family owned company, the branch of a major corporation or a government organisation, Ecovis is at your side wherever your business takes you.

With Ecovis, you will always have a home advantage. Being there means less communications hassle and increases our understanding of your special situation. We aim to work in partnership with businesses to provide the support and accessibility

of a small company with the wealth of experience that can be expected from a global organisation. This obliterates communication barriers and bolsters our comprehension of the local business terrain, allowing us to seamlessly provide bespoke solutions aligned with the Nigerian context and International realities.

In what ways will Ecovis OUC contribute to the growth and success of Nigerian businesses?

Our mission is to empower Nigerian businesses to excel on both local and global fronts. By uniting international expertise with local insights, we equip businesses with the tools to surmount challenges and seize opportunities. Whether it’s tax consultation, accounting, auditing, or compliance advice, Ecovis OUC is committed to delivering comprehensive solutions that foster growth and success.

Ecovis appears to be entering the Nigerian economy when there are so many challenges in the economy and for businesses. What is your assessment of the current administration in terms of its handling of economic matters?

Ecovis coming in at this time is part of our little way of joining forces with the current administration to turn things around. Quite frankly, 100 days is too short in the life of an administration to be able to correctly assess the impact of its policies. However, we can say that so far so good. We must commend the bold steps taken by the current administration thus far in the area of fuel subsidy removal, inauguration of tax reform committee and the foreign exchange liberalisation policies. We believe that if the policies are properly managed and

implemented, the economy will soon begin an upward swing.

Several economic agents appear to be worried about the forex market especially considering the apparent fallen value of the Naira. What do you think is wrong and what can be done?

I think the policy of the current administration is to allow market forces of demand and supply to determine the value of the naira. Theoretically, market forces are the most suitable mechanism for allocating scarce resources and for correcting distortions in the forex market. However, this position rests on a critical assumption of many economic agents on both the demand and supply side. That is the assumption of perfect competition. Unfortunately, the assumption does not hold for the forex market because whereas there are many people on the demand side, supply is inelastic because of the productive base. Therefore, supply will not increase in response to price. Increases in price, (I mean lowering the value of the naira) in relation to other currencies can only lead to inflation as we are presently witnessing because we do not have the productive base to earn more dollars. This is what we call market failure which is the inability of the market to allocate resources efficiently. I will therefore strongly recommend that the government should revert to a managed float by channelling our scarce forex resources to the productive sectors.

What are the implications of the removal of fuel subsidy on the Nigerian economy?

This is one of the best things that has happened to the economy in recent times. The removal has in the short-term freed resources for the government at various levels to run the country. In the long term, it will also help us to channel resources to the more productive sectors of the Midstream/ Downstream subsectors of the oil and gas industry. However, it has created inflationary pressures and general difficulties in the country.

Sometimes, I tend to believe that it would have been better to address the supply side by fixing the refineries before removing the fuel subsidy. This is so because what we have now is more difficult to manage. We have fuel import exacting pressure on foreign exchange, which puts pressure on fuel price which again increases the cost of import, and the cycle continues. At this rate, it is increasingly becoming more difficult to control the price without some form of government intervention.

Overall, how do you think that the challenges of development can be overcome in Nigeria.

Personally, I tend to think that the greatest impediment to our development is a lack of discipline. Specifically, we must return to the discipline of planning where there is a deliberate effort to set quantifiable targets over a given period of time. More so, government must be seen as a continuum when an incoming government sees the policies and programmes of its predecessor as national matters that must be driven to a logical conclusion. Historically, we can see that the greatest developments in the country happened during the period of development plans in the 70’s.

How can businesses and individuals get in touch with Ecovis OUC for more information? We welcome inquiries and are enthusiastic about engaging with the Nigerian business community. To learn more about our services, expertise, and how we can bolster your business, please reach out to our dedicated team at www.ecovis.com.

AN HONOUR WELL DESERVED...

Yoruba Nation Activist, Sunday Igboho, Regains Freedom, Leaves for Germany

Yoruba Nation activist, Chief Sunday Adeyemo, popularly known as Sunday Igboho, has been released from protective custody in the neighbouring Republic of Benin.

Yoruba Nation Leader, Prof. Banji Akintoye, said in a statement that Igboho's release came yesterday, noting that the activist was already on his way to Germany to be reunited with his family.

Igboho was arrested on Monday,

July 19, 2021, by the International Criminal Police Organisation at the Cadjèhoun Airport in Cotonou, the Republic of Benin on his way to Germany.

He had fled Nigeria after a bloody raid on his Soka residence in Ibadan, Oyo State capital by the Department of State Service (DSS), which accused him of stockpiling arms. He has remained in protective custody in the Republic of Benin before

his release yesterday.

A local newspaper in the neighbouring country, Banouto, quoted the authorities as saying Igboho was nabbed at Cardinal Bernardin International Airport in Cotonou.

He was “disembarked from his plane, arrested by the Beninese police while he was trying to travel to Germany and then transferred to the Cotonou Criminal Brigade.”

It was learnt that under the

agreements between the two countries, Igboho’s extradition was expected to be concluded without hindrance.

While the Nigerian government did not speak on the development, reactions poured in from different Yoruba groups.

Igboho’s lawyer, however, called on the government of Benin Republic to prevent his extradition to Nigeria on the grounds of security and threat

MTN Nigeria Unveils Mobile-Ads Fusion, Eyes $150m Revenue by 2030

Dike Onwuamaeze

The MTN Nigeria Plc has unveiled its MTN Mobile-Ads Fusion to advertisers, advertising agencies and other stakeholders in the mobile advertising with its eyes on potential $150 million revenue in 2030.

The mobile-ads fusion would make available to advertisers MTN Nigeria’s 77.6 million subscribers, which included 41.5 million smartphones and 43.2 million active data users through varieties of media channels that include device agnostic reach for both smartphones and feature phones as well as providing on net and off net reach.

The Chief Digital Officer of MTN Nigeria, Ms. Aisha Umar Mumuni, said during the unveiling of the telco’s mobile advertising platform that the global mobile advertising market was put at $175 million at the end of 2022 and was projected to grow to

$750 million by 2030.

According to Mumuni, “in the digital advertising market 68 per cent of the total ad spending will be generated through mobile. That is what we do and that is why we are here. We are probably not going to do 20 per cent of $750 million as mobile. But $150 million advertising revenue in 2030 from mobile advertising for telcos is a massive opportunity.”

She said MTN Nigeria was offering advertisers the most effective and impactful platform for targeting Nigerians to see their products and services through many mobile channels like SMS amongst others.

“We have the technology. We have the strategy and we have the experience,” she said.

According to the Senior Manager, Digital Advertising and Campaigns, Mr. Eyitayo Amushan, the MTN Mobile-Ads Fussion unveiling was held to bring together key industry

stakeholders that are advertisers in the media space in one place to tell them, “about our vision, what we have been doing and where we are going to. We want the general public to know that apart from voice and data services that everyone knows MTN for, we are also doing mobile advertising where we advertise products for third parties on mobile devices of our subscribers.”

Amushan explained that, “the mobile-ad fusion is a platform MTN Nigeria is running whereby advertisers can come and buy inventory and communicate with their customers in our data base.

“If you are selling any product or service you can come to us so that we can help you advertise those products and services on our own platform to our subscribers.

“The advantage is that when compared to other channels like Google, Facebook and other digital platforms, MTN-Ads Fussion is cheaper and more cost effective.

“Our own is denominated in Naira. Again we have improved targeting and segmentation whereby we know the right people to send those advertisements to who will be interested in that particular product being brought to us.”

He said MTN Nigeria’s objective was to, “be the largest publisher that is connecting brands with highly engaged customers. And to anonymise and aggregate customer data to provide insights and value to advertisers.”

Furthermore, he said MTN Nigeria would reach real people with first screen user experience leveraging the telco’s first party deterministic data in accordance with local regulation.

“As the largest publisher in Africa, MTN advertising offers partners the ability to engage with several users through its platforms and various inventory channels, reaching all sectors of the population.”

to his life.

“I call upon you to rise up and curb the impunity of the Nigerian Government by refusing any application for

extradition of our client, who already has an application before the International Criminal Court duly acknowledged,” he said in a brief statement.

Kogi Guber Candidate Pledges to Tackle Poverty in State Under Three Years

Ibrahim Oyewale in Lokoja

The governorship candidate of Action Alliance (AA) in the forthcoming governorship election in Kogi State, Olayinka Braimoh, has disclosed that he has the blueprint of ending poverty in Kogi State under three years.

Braimoh, said this while addressing during a visit to the palaces of Olukotun of Ifeolukotun and Elejuku of Ejuku, Yagba East Local Government Area during the weekend.

According to the governorship candidate, his STAT Agenda was the solution to poverty in the state.

He said the STAT Agenda which comprises solid minerals development, tourism, agriculture and trade, would help the state reduce its over-dependence on federal allocations.

Braimoh, also promised to introduce regenerative agriculture if voted into power.

he described regenerative agriculture as a mixed cropping system of farming system where a farmer could plant different crops on the same land, saying part of his plan was to train 1000 farmers in the modern farming method.

He said since the land in Kogi State is fertile for farming, a new lease of life would come for

farmers only if they vote wisely in the November 11 governorship election in the state.

The governorship candidate maintained that he was on an assignment to salvage the state from poverty and transform it into a wealthy one.

"Despite having four successive governors over two decades, Kogi is still in abject poverty. The poverty level keeps increasing due to huge dependency on federal allocation. I have a plan to bring cash inflow into the state economy.

"We are rich in solid minerals but poor in reality. If Kogi refuses to develop solid minerals, outsiders will do it and take the money away, Braimoh added.

In his remarks, the Olukotun of Ifeolukotun, Alhaji Shaibu Muhammed said the AA governorship candidate was a replica of his family in intellectual capacity and humility.

Shaibu recalled his close relationship with late Chief S.O Braimoh, father of the gubernatorial candidate, stating that he had a rich blueprint capable of changing the state economy.

The governorship candidate also met with different groups including market women, artisans, members of NURTW, religious leaders, youths, and students in Ifeolukotun.

Kashim Ibrahim-Imam, OFR, CON, being conferred with an Honorary Doctorate of Letters degree by the Chancellor, Gombe State University, His Royal Highness Alh. Abubakar Shehu Abubakar, CFR, Emir of Gombe during the convocation ceremony of the University on Saturday.

SPPG GRADUATION CEREMONY…

Insecurity: I Won’t Let Nigerians Down, Defence Chief Vows

The Chief of Defence Staff (CDS), General Christopher Musa, has vowed not to let Nigerians and President Bola Tinubu down, in his determination to bring lasting peace to the country by fighting insecurity to a standstill.

Musa also reaffirmed to uphold the ideals and principles guiding the Armed Forces of Nigeria, while urging troops that it was a solemn duty to ensure that the sacrifices were made by each and every member of the military.

He spoke at the 37 Regular Course 38th anniversary of gratitude and the investiture of the immediate-past Chief of Army Staff, Lt.-Gen. Faruk Yahaya (rtd) as the Grand Patron of the Course in Abuja yesterday.

The event, which started Saturday night and ended

Sunday morning had top echelons of the military from the three services – Army, Navy and Air Force – in attendance.

Musa stated that the success of the nation’s military life, not only in its operational progress but also in the unwavering support and trust of its veterans had been the bedrock of the nation’s defence.

He added that the dedication and service of the armed forces veterans to the country, as well as their commitment to the ideals of duty, honour and loyalty had been source of encouragement.

“I am saying it from the bottom of my heart. We have this promise to make to all of you, that I will not let you down. We will do whatever it takes to ensure we continue from where you have stopped, so that we can get the desired

NGO to Nigerian Youths: Forget White-collar Jobs, Learn a Skill

Emmanuel Addeh in Abuja

A non-profit initiative aimed at addressing contemporary social issues, Bilaad Development Trust, at the weekend urged Nigerian youths to engage in learning vocational skills to make them self-reliant, rather than waiting for non-existent white-collar opportunities.

The organisation stated this at the second edition of the social impact project of ‘GemHunt 2.0’, in Abuja, the nation’s capital.

The event featured young, dynamic, and promising entrepreneurs who the organisation said were not only determined to scale their existing business ideas, but have their eyes on the prize, courtesy of Bilaad.

Speaking at the event, a physically challenged entrepreneur focused on making leather footwear, Dorcas Benjamin, advised the people living with disabilities not to

depend on begging.

She urged them to seek out opportunities to build capacity and make a meaningful impact.

Also speaking, an elated winner of the star prize, Elizabeth Omolabake, who came from Lagos to participate, said it was an opportunity to help her scale up her business.

“This has encouraged me to keep putting in the work, to keep proving that made-in-Nigeria products stand for quality," she stated.

The co-coordinating Trustee for Bilaad Development Trust, Sadiq Abdullahi, said the group set up the platform primarily to give back to the society, listing the three focal areas as entrepreneurship, education and change advocacy.

Abdullahi, however, advised the young Nigerians to not rely on anyone to give them a job, adding: “aIf you spend your first six months and you don't get a job, learn a skill.”

goals of bringing lasting peace to our dear country Nigeria.”

“I remain committed to upholding the ideals and principles that have guided our armed forces throughout history. It is my solemn duty to ensure that the sacrifices made by each and every member of the service regular courses are duly acknowledged,” he said.

In his remark, Yahaya appreciated his coursemates for the honour done to him, adding that the gesture of oneness and togetherness among the course 37 members had come

a long way and appealed that it should not only be sustained but improved upon

“This gesture of oneness and togetherness have come a long way. We are talking about four decades of togetherness.

“So we should not relent but to continue and even seek better ways or more ways of improving in what we are doing. Time is changing, so we must move with time upon our mind and our hearts, not forgetting the essence.

“While this organisation is here. Every time we must

reflect why and then continue to seek for improvement,” the former COAS said.

Earlier, the chairman of the occasion, retired Admiral Ola Sa’ad Ibrahim, also former Chief of Defence Staff, said the Nigerian Defence Academy (NDA), had produced quality number of armed forces for the country. He also said that the country had also nurtured a group of young Nigerians as military personnel, because while at NDA they picked degrees.

“So the modern day officers

of the country forces are well educated. They are well connected with the needs of the community they have sworn to serve,” he said.

Retired Maj.-Gen. Victor Ezugwu, President, 37 Regular Course, said the occasion was to celebrate and appreciate the former COAS for serving and representing them well. He noted that the course had produced the highest number of two star generals in the history of the armed forces of Nigeria from 1964 to date.

67-year-old in NDLEA Custody for Ingesting 100 Wraps of Cocaine at Abuja Airport

Michael Olugbode in Abuja

Operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested a 67-year-old alleged trafficker, Chukwuemeka Clement, at the Nnamdi Azikiwe International Airport, Abuja, for ingesting 100 wraps of cocaine.

Chukwuemeka who was arrested last Tuesday, during the inward clearance of passengers on Ethiopian Airlines flight 951 from Addis Ababa, Ethiopia, claimed he ventured into the enterprise to raise enough money to marry a new wife and start life afresh after wasting 30 years of his life in Brazil, Ethiopia and Thailand.

He was arrested after body scan revealed multiple pellets in his stomach and subsequently when under observation excreted a total of 100 wraps of cocaine weighing 2.195 kilogrammes in four excretions.

According to a statement by the spokesman of the NDLEA, Femi Babafemi, Chukwuemeka in his statement, claimed to had spent 30 years in Brazil, Ethiopia and Thailand, and was once married, but lost his wife and

without a child. He added that, it was why he decided to go into drug trafficking to raise enough money to marry a new wife and start life afresh.

Babafemi, explained that on same Tuesday, NDLEA operatives at the Malam Aminu Kano International Airport, Kano, intercepted a 45-year-old woman, Bilkisu Mohammed Bello, while preparing to board a Saudia Airlines flight to Saudi Arabia.

She confessed during interrogation that pellets of cocaine given to her to swallow before her flight were kept in a house in Farawa area of Kano.

When she later led NDLEA officers to the house, 52 wraps of the illicit substance with a total weight of 767 grammes were recovered.

Babafemi, also revealed that NDLEA operatives supported by officers and men of the Nigerian Army, Civil Defence Corps and Amotekun personnel last Tuesday, stormed James village, in Ogunmakin, Obafemi Owode local government area of Ogun state where they located and destroyed 10.38 tonnes of cannabis sativa covering over

4.152 hectares. He disclosed that while on their way back from the operation, the team also intercepted a truck marked FS548XN carrying a 40ft container loaded with logs of wood.

He noted that a search of the container led to the recovery of two bags of cannabis sativa weighing 20 kilogrammes while six suspects: Ahmed Yusuf, Olaniyi Babatunde, Adedeji Babatunde, Richard John, Osolale Olamilekan and Abdulazeez Saied, who were in the truck were arrested.

In the same vein, “operatives on Sunday 1st October raided Obi camp in Owan West local government area of Edo state where 30 sacks of skunk weighing 300 kilogrammes and concealed in charcoal were evacuated from an old dilapidated mud house. “Similarly, two cannabis farms measuring 1.179065 hectares at Igbanke forest in Orhiowon local government area of the state were identified and destroyed last Friday while four suspects: Tersoo Zaria, 28; Ifeanyi Osai, 53; Moses David, 19, and Daniel

Gabriel, 20, were arrested.

“In Gombe state, a suspect, Auwal Bindow was arrested last Friday along Bauchi - Gombe road with 50,000 capsules of tramadol, while in Oyo state, NDLEA operatives on patrol along the LagosIbadan expressway nabbed Anuoluwapo Iyanu, 32, with 52 blocks of compressed pawpaw shaped cannabis sativa weighing 30 kilogrammes last Wednesday,” it added.

The statement further disclosed that the various commands of the agency across the country continued with the War Against Drug Abuse, WADA, advocacy campaign in the past week. Some of tasks undertaken included: WADA sensitisation lecture for students and teachers of Igbonnibi High School, Ila Orangun, Osun state; WADA sensitisation lecture at Royal Ambassador Secondary School, Makurdi, Benue state; WADA sensitization lecture at Ilora Baptist Grammar School, Ilora, Oyo state and LGA WADA sensitisation lecture for students of Beth-Root Model Secondary School, Onitsha, Anambra state.

L-R: Chief Executive Officer, School of Politics, Policy and Governance (SPPG), Alero Ayida-Otabo; Best graduating students cla ss of 2022, Joyce Daniel; Former Minister of Information, Mr Frank Nweke Jr. and Former Minister of Education/ Founder, SPPG, Dr. Oby Ezekwesili, during the graduation ceremony of SPPG cla ss of 2023, in Abuja at weekend ENOCK REUBEN

IYOBOSA, EDITOR, THISDAY NATION'S CAPITAL BAGS PHD…

HURIWA, Amnesty International Condemn FG’s Plan to Gag ARISE TV

Chuks Okocha in Abuja

Foremost rights groups, Human Rights Writers Association of Nigeria (HURIWA) and Amnesty International (AI), yesterday, condemned attempts by the federal government through the National Broadcasting Commission (NBC) to gag the media, especially Nigeria’s number television station, the Arise News Television.

HURIWA specifically cautioned the NBC to avoid acting like an agency of fascism, and not to continuously act as though it was being teleguided,

manipulated and mechanically remotecontrolled by haters of democracy, free speech and constitutionalism, to scuttle Nigeria's democracy.

HURIWA also called on National Broadcasting Commission to take cognisance of the ‘indubitably, incontrovertible and irrevocable’ fact that the grundnorm or the Constitution of the Federal Republic of Nigeria was more supreme and bigger than any public office holders.

It said the NBC that was set up by an inferior legislative template couldn't be seen to be attempting crudely to

revoke the constitutional freedoms enshrined copiously in chapter 4 of the constitution, including freedom of information.

The civil right group said claimed the Constitution in section 22 has empowered the media of mass communication to do the duty of a vanguard and conscience of the nation and monitor the behaviours of public institutions and public office holders.

It said this was to ensure rule of law, respect for constitutionalism and fundamental freedoms recognised

internationally under the Universal Declarations of Human Rights (UDHR), the African Charter on people's and human rights, the international covenant on civil and political rights and a plethora of international human rights treaties.

HURIWA said the persistent attempt by NBC to muzzle the exercise of the fundamental human rights of Nigerians including attempting to force broadcasting stations to start operating as if they were in the era of Musolini's fascism of Italy of far years gone by or as if Nigeria was

Nigeria’s Pension Revolution Irreversible, Says PenCom DG

The Director-General of the National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar, has said the revolution Nigeria has recorded in its pension industry cannot be reversed despite the various challenges and ongoing pushbacks.

In her book titled: ‘Fighting for the Future: Nigeria’s Pension Reform Journey,’ which can now be downloaded free of charge on the PenCom website, Dahir-Umar provides the first authoritative account of the history of Nigeria’s pension reform which was launched by former president Olusegun Obasanjo with the introduction of the Contributory Pension Scheme (CPS) in 2004.

According to a statement yesterday, the book, published by

Cable Books, an imprint of Cable Newspaper Ltd, provides an in-depth analysis of the intricate landscape of pension reform in Nigeria and offers invaluable insights into the nation’s evolving pension system.

“Nigeria’s pension reform can be summarised in two stats. One, in July 2004 when the reform was kickstarted, national pension deficit was N2.4 trillion.

“Two, by February 2023, accumulated pension assets had grown to N15.45 trillion. It was miserably in the red and now abundantly in the black. That is the Nigerian pension revolution in summary,” she wrote.

According to her, “In the history of economic reforms in Nigeria, pension easily ranks among the

most definitive and successful. It has opened up a new economy, creating a cluster value chain, expanding the financial markets and providing funding for infrastructural development.

“Only the telecoms reform can lay claim to producing more results during the same period.”

She argued that the success of pension reform in Nigeria was an indication that the country has the capacity for change contrary to popular notions.

“Less than 20 years after the landmark pension reform, the success stories are phenomenal, putting a lie to the notion that it is impossible to make a fundamental policy change in Nigeria. All it takes to achieve success is the

formulation of feasible policies and a fidelity to implementation by the relevant institutions.

“Compared to the previous pension system when pensioners went through an unpleasant experience while trying to claim their entitlements, the turnaround is worth celebrating and, most importantly, sustaining,” she added.

In his Foreword to the book, Mallam Muhammad K. Ahmad, the pioneer DG and CEO of PenCom in 2004, wrote: “I consider this book to be an informative, educative and honest account of the evolution of pensions in Nigeria and I have no doubt that every reader will find it valuable and highly insightful as well.”

FG Backs Saudi’s Efforts to Maintain Oil Market Stability, Says Negotiation on 12 MoUs Ongoing

Emmanuel Addeh in Abuja

The federal government has expressed support for the Kingdom of Saudi Arabia in its efforts to, in collaboration with the Organisation of Petroleum Exporting Countries (OPEC), stabilise the global oil and gas market.

Nigeria’s ambassador to Saudi Arabia, Yahaya Lawal, in an interview with Saudi-based newspaper, Asharq Al-Awsat, also stated that there were ongoing negotiations between the two countries on more than 12 agreements and Memoranda of Understanding (MoUs) to boost strategic ties and joint work.

The ambassador said Abuja and Riyadh as OPEC members maintain solid cooperation in favour of the global oil market, explaining that they work under the OPEC+ framework to maintain the stability of the market and to achieve a fair price.

Saudi Arabia recently confirmed that it would maintain a production cut of 1 million barrels of oil a day through the end of the year, with the announcement expected to further prop up oil prices.

Saudi Arabia and Nigeria are important in terms of balancing the oil market and share a strong partnership in preserving the oil market’s stability which is crucial

to the global economy, he added.

OPEC data showed that Nigeria produced 1.18 million barrels per day in August.

Lawal remarked that both countries were holding talks over 12 agreements and MoUs as part of the Nigeria-Saudi Joint commission, noting that an agreement was previously signed between the chambers of commerce and industry in Saudi Arabia and Nigeria. This, he said, would reinforce trade, economic, and investment cooperation.

Lawal, stressed that the current talks were part of endeavours to boost cooperation in many fields, including energy, oil, gas, investment

protection, avoiding dual taxation and in transport.

Other areas of cooperation, he said, included anti-corruption, money laundering and financial crimes, education, human trafficking, security and defence cooperation, among others.

According to the Nigerian ambassador, the Saudi-Nigerian ties have elevated remarkably in various fields in which some Saudi investors have launched investments in Nigeria, especially in real estate development and agriculture where the trade level is undergoing an upward trend.

under the North Korean type of absolute tyranny by not featuring critics or Nigerians of divergent views different from those of the persons in government of the day, must be actively resisted by all and sundry so that democracy was not imperilled.

The Rights group, in a statement by its National Coordinator, Emmanuel Onwubiko, accused the NBC of working with reactionary elements to scuttle democracy and institute absolute monarchical type of governance in this 21st century Nigeria.

Nigerians, it said, should and must actively resist this negative forces, who were bent on scuttling the enjoyment of fundamental freedoms by the Nigerian citizens.

On its party, Amnesty International, condemned NBC for issuing a ‘final warning’ to owners of Arise Television over the use of derogatory and incendiary remarks on the station.

In its reaction shared on its X account in the early hours of Saturday, October 7, 2023, Amnesty International Nigeria said the NBC action has proven that the Nigerian

authorities were not prepared to be held accountable.

It urged the government to desist from what it called an attempt to silence media organisations whose roles are crucial in ensuring independent and diverse media space in the country.

The statement read: "Amnesty International condemns the ‘final warning’ issued to @ARISEtv by the FG through National Broadcasting Commission (NBC) Targeting Arise TV simply for doing their work sends the wrong message that; Nigerian authorities are not prepared to be held accountable.

"Nigerian authorities must stop the unrelenting quest to silence media organizations like @ARISEtv which are crucial to ensuring independent and diverse media space in the country and fulfilling people’s right to information.

"Using regulations as a way to silence independent journalism is completely unacceptable. The media in Nigeria should be free to exercise their right to freedom of expression as protected by international law."

NLRC to Host International Gaming Conference to Boost Lottery

In its bid to expand the nation’s business frontiers and create more wealth for Nigerians, the federal government has approved the elevation of the annual gaming conference of the National Lottery Regulatory Commission NLRC to international standards to attract more foreign investments and inflow of resources to the country.

NLRC director-general Lanre Gbajabiamila disclosed this in a statement issued by Magnus Ekechukwu, the commission's deputy director of public affairs, on Sunday on the preparations for the 2023 edition of the conference scheduled for October 31 and November 1.

Progressing from the success of the maiden edition of the conference, which had only key Nigerian stakeholders and players of the industry participating, Gbajabiamila stated that this year’s edition would have some "key potentates of the gaming industry in Africa and across the globe" in attendance.

According to him, the NLRC

was deliberately creating chances and openings for the Nigerian gaming industry leaders and potential investors to interact and connect with the best gaming industry giants across the world to upgrade their businesses, generate more resources and enhance the winnings for Nigerians.

With the theme, 'Innovation and Disruptions: Core Strategies for Success', the 2023 International Gaming Conference will be held at the prestigious Eko Hotel and Suites, Victoria Island Lagos, featuring presentations, exhibitions, panel discussions and gala night, where awards would be given to outstanding stakeholders and players in different categories.

"With the new international status of the gaming conference, the National Lottery Regulatory Commission, stakeholders, players and prospective investors have a lot to achieve in the professionally and dexterously packaged two-day conference," said the statement.

Vice-Chancellor, University of Abuja, Prof. Abdul-Rasheed Na'Allah, congratulating Editor, Nation’s Capital of THISDAY Newspapers, Dr Iyobosa Uwugiaren, after he was awarded Doctor of Philosophy Degree (PhD) in Media Arts during the convocation ceremony of the university on Saturday in Abuja.

AKUME

RECEIVES AROGUNDADE...

Firm Seeks Tinubu's Intervention in Multimillion Naira Property Demolished By Wike

Alex Enumah in Abuja

An Abuja firm, Shrodder Nigeria Limited, has sent a "Save our Soul" message to President Bola Tinubu over the demolishing of its building next to the Abuja residence of the Chief of Staff to the President and former Speaker of the House of Representatives, Femi Gbajabiamila.

The company, in a letter dated September 26, accused the Minister of the Federal Capital Capital Territory (FCT), Nyesom Wike, of acting with impunity and in total disregard of a valid order of court.

The demolished property is

located within the Cadastral Zone of the Maitama District, Abuja.

The dispute over the land began last year, October 4, when the former Minister of the FCT, Mallam Muhammad Bello and officials of the Federal Capital Development Authority invaded the property.

It was gathered that a day after the invasion, on October 5, the then Minister gave an order to the FCDA sealing off the property and also deposited a detachment of mobile policemen to lock out construction workers from gaining entry into the property.

According to documents, the

sealing-off of the property was without prior notice of infraction.

Consequently, the owners of the property caused a legal action of trespass and unlawful occupation against the Minister of the FCT and the FCDA, in suit number FCT/ HC/CV/3449/2022 between Shrodder Njgeria Limited and Minister of FCT before Justice Abubakar Musa of High Court of the FCT.

In his judgment on April 4, this year, Justice Musa restrained the defendants from further interfering with the 1st Claimant’s lawful use, quiet possession, occupation of

the plot.

According to the court, the forceful take over and occupation of the property by the defendants of the plot on October 5, 2022 constitutes an act of trespass.

“That the defendants are hereby ordered to vacate with immediate effect, the Claimant’s property, unseal the property and to remove forthwith the mobile policemen they had unlawfully and illegally installed on the property since on the 5th day of October, 2022”, the judge held.

It was gathered that neither the Minister of the FCT nor the FCDA appealed the judgment

Buhari’s Govt Failed Nigerians Woefully, Says Ex-minister, Dalung

Former Minister of Sports and Youth Development, Solomon Dalung, has claimed that former President Muhammadu Buhari failed Nigerians during his administration.

Buhari was president from 2015 to 2023. Before he assumed office in 2015, he contested election three times and failed. He had equally sternly criticized previous administrations for poor performance.

But Dalung, who served under Buhari’s government, also said his administration failed to fulfill the promises made to Nigeria during the 2015 campaign, adding that the former president is currently living in regret after his allies

“dragged his name in the mud.”

In an interview with Trust Radio, the former minister said as a founding member of the ruling All Progressives Congress (APC), he has responsibility to speak the truth.

“We failed to meet our expectations, and I am not hypocritical because as a major stakeholder who campaigned vigorously in 2015 and went to the nooks and crannies of the north, of all the promises we made, we fulfilled none of them,” he said.

“The political covenant we had with Nigerians while campaigning was that we were going to address the security situation; we were going to

revamp the economy; and we were going to give corruption a major technical blow so that we could minimize it to the barest minimum.”

“Looking back, reflecting and evaluating the situation as it is today, we failed woefully.”

He described Buhari as a very honest leader, who believed in people around him, but got his name was dragged in the mud by them.

“He (Buhari) is a very honest man who believed that everybody around him was an honest person, he brought them and trusted them. Today, I believe he is living in regret.

“They have dragged his name and integrity not only

into the mud and they’ve reduced his image,” Dalung said.

The former Minister believed that the APC’s administration between 2015 and 2019 recorded a modest progress, because “insecurity was not as worse as it is currently.”

He said: “Banditry and terrorism got minimized in terms of attacks, but it’s still flourishing, the complete change of dynamics in the security situation worse than ever before in the history of this country, and is a remarkable failure and indictment too on the APC, because these were not part the democratic covenant they had with Nigerians.”

Obaseki: I’ll Rebuild More Local Roads, Open More Areas

Edo State Governor, Mr. Godwin Obaseki, has promised to construct more interconnecting roads across the state to connect communities and open up more areas for economic activities and development.

The governor, who spoke while addressing stakeholders in Edo Central Senatorial District, decried the poor state of federal roads across the state, and reassured the people that his government would, after the rainy season, focus on the construction of more local roads to ameliorate the sufferings of

the people, commuters and other residents in the State.

“Anytime I want to come to Edo Central, I try to go through the roads that are very bad to see and feel what you are going through. I want to assure you that our biggest challenge as a state is our road infrastructure which is being challenged as we will not keep quiet for what is a blessing which has now turned into a curse.

“Edo is blessed because of its long stretch of interconnection of federal roads and I don't think that there is any state in the

country that has interconnected federal roads like Edo State. What we are seeing in the roads in Edo State today is an indication of what is happening with our federal government.

“It’s telling on us and shows that the federal government doesn’t seem to have the capacity to repair, maintain, and manage its own roads. So, our choice is to go back to our own local roads, create new ones, and see how to connect our state since they say they will not allow us to touch their roads.

“I appeal to you to be patient

with us. It’s a matter of time. The dry season will be here soon and we will mobilise contractors to site, look for the money, and begin to construct our interconnecting roads in the state.

“We believe that what we are seeing is a signal to us that since the federal government has failed to repair Ekpoma, Irrua, Auchi, Benin roads, we must look for the roads we used to use before 1967 and 1973 and begin to rebuild those roads to connect our villages and communities.”

of the High Court.

Although the FCDA refused to comply with the order of the court in removing the seal order on the property, a new twist was made to the controversy when on September 19, the new Minister of the FCT, Wike invaded the property with bulldozers to bring it down.

The action by Wike was said to be devoid of a prior notice of demolition and in direct violation of the April 4, 2023 judgment of a court on the matter.

The expansive property, which is a next-door neighbour to Gbajabiamila, was eventually brought down on Thursday, 28 September.

Sources who worked on the property said the property had been there long before Gbajabiamila assumed occupancy of his ultra modern property in 2019, when he was Speaker of the House of Representatives.

It was also gathered that the topmost floor of the property, before it was pulled down, was said to be overlooking the private swimming pool on Gbajabiamila’s property. Meanwhile, the firm through its lawyer, Jeph Njikonye, SAN, in a letter to President Tinubu, dated September 26, said Wike acted illegally, unconstitutionally and in contravention of a court order.

Off-cycle Guber Polls: Parties Yet to Substantially Comply

INEC still awaiting list of agents

Adedayo Akinwale in Abuja

The Independent National Electoral Commission (INEC), has said political parties were yet to substantially comply by submitting the list of their agents ahead of the November 11 governorship elections holding in Bayelsa, Imo and Kogi States despite notice and subsequent reminders.

INEC National Commissioner and Chairman, Information and Voter Education Committee, Sam Olumekun, disclosed this in a statement yesterday while giving an update on preparations for governorship elections.

He said the commission notified all political parties of the opening of its online portal for the upload of the list of polling units and collation centre agents, which commenced on Thursday 24th August 2023, and thereafter engaged party representatives on the methodology for a seamless process.

"However, despite this notice and subsequent reminders, political parties are yet to substantially comply by submitting the list of their agents. For Bayelsa, Imo and Kogi States, only 55% of the expected total of

189,180 polling unit agents have been uploaded to the designated INEC Portal.

"Specifically, 29,278 out of the expected 40,372 (72.5%) for Bayelsa State; 51,681 out of 85,644 (60.3%) for Imo, and 23,720 out of 63,144 (37.6%) for Kogi State have been uploaded.

"Similarly, only 25.1% of the expected 15,804 Collation Agents in the three States have been uploaded: 1,246 (26.0%) out of 4,806 for Bayelsa; 1,638 (27.3%) out of 5,994 for Imo, and 1,095 (21.9%) out of 5,004 for Kogi State."

The Commission further reminded political parties that the portal would automatically shut down at 12:00 midnight on Tuesday 10th October 2023, adding that there would be no extension, warning that all parties sponsoring candidates for the elections that were yet to upload the list of their agents should do so before the deadline for the exercise.

The commission also revealed that the online accreditation of Journalists commenced on 24th August 2023 and would close on 22nd October 2023, saying45 media organisations had applied for accreditation so far.

Secretary to the Government of the Federation, Chief George Akume (right) receiving the Senior Special Assistant to the President on Technical, Vocational and Entrepreneurship Education, Ms Abiola Arogundade, in the SGF's office in Abuja…recently

COURTESY VISIT TO KWARA DEPUTY GOVERNOR…

L-R: Member of University of Lagos Mass Communication Alumni Association (UMCAA) 1984 graduating set, Oladipo Ojedeji, HE Mr. Kayode Alabi, Deputy Governor of Kwara, His Excellency, Mr. Kayode Alabi; Fred Ohwahwa, Chairman, UMCAA ‘84 set, Olorogun Fred Ohwahwa, and Vice Chairman, UMCAA’ 84 set, Raheem Adedoyin, during a courtesy visit to the deputy governor in Ilorin…recently

Anglican Archbishop Urges Govts to Address Rising Hunger, Poverty

John Shiklam in Kaduna

The Archbishop Kaduna Diocese of the Anglican communion, Most Rev. Timothy Yahaya, has called on governments at all levels to provide some respites to ordinary Nigerians groaning under hunger and poverty as a result of the difficult economic

situation in the country.

Yahaya made the call in an interview with journalists yesterday, before a thanksgiving service celebrating his elevation to the position of Archbishop which held at the Cathedral of St.Michael, Kaduna.

He described the palliatives initiated by the federal government following the

Ogun Ranks 6th in Socioeconomic Scorecard

James SowoleinAbeokuta

Analysts Data Services and Resources

has ranked Ogun State sixth out of 37 states in the just released Socioeconomic Scorecards of Nigerian states.

A statement yesterday, disclosed that Ogun State, under the leadership of Governor Dapo Abiodun, came top in the Financial Sector; third in Capital Importation; third again in Industrialisation & Business Competitiveness; fifth in Citizens’ Livelihood & Welfare; fourth in ICT Infrastructure and fifth in Education.

In the area of the financial sector, Ogun State came tops with 65.6 per cent, followed by Kaduna with 62.4 per cent, while Oyo came third with 62 per cent, it added.

Also, Ogun State came third in capital importation with 61.1 per cent. The State was only beaten by Lagos State, which came first with 68.7 per cent and FCT, with 67.8 per cent.

Again, the Gateway State came third in Industrialisation and Business Competitiveness with 61.5 percent, behind Lagos State with 70.1 percent and Oyo State with 62.9 percent.

TETfund Projects Inaugurated in Gombe State University

Segun

Awofadeji in Gombe

The Gombe State Governor, Mr. Muhammadu Inuwa Yahaya, has reaffirmed his commitment to collaborate with the Tertiary Education TrustFund (TETfund) to improve the infrastructure of Gombe State University and other state owned higher institutions to foster conducive environment for effective teaching and learning.

The governor made this known last weekend during the commissioning of several

TETfund funded projects at Gombe State University.

While emphasising the university’s significant impact on the society, the governor extended his gratitude to those who played vital roles in establishing the institution. Specifically, he recognised former Governor Dajuma Goje, late Professor Abdullahi Mahdi, the pioneer Vice Chancellor, who marshaled the institution as a spring board for academic excellence and a pride to the people of the state and beyond.

Luminate Group Boosts Youth Leadership Nurturing, Activism

Michael Olugbode in Abuja

Youth leadership nurturing and activism in Nigeria have received a massive boost with Luminate contributing to Nigeria Youth Futures Fund (NYFF)

The NYFF Project, initiated in 2021, is a five-year initiative funded by the MacArthur Foundation and Ford Foundation and implemented by LEAP Africa. This project is dedicated to nurturing youth leadership and activism in Nigeria by fostering outcomes-driven policy engagements and inclusive resourcing for medium and

removal of petrol subsidy as a, “mockery on the sensibilities of the poor masses.”

According to him, the negative impact of fuel subsidy

removal had rubbished the value of ongoing palliatives being distributed across the country, noting that the palliatives should have been

something concrete that could stand the test of time.

The clergy said majority of Nigerians have been subjected to hunger and poverty due

to socio-economic hardship. Yahaya said, “Leadership today has become a source of decoration, it is no longer a source of responsibility.

Debts: Indigenous Contractors Kick against Agip-Oando Deal

Blessing Ibunge inPortHarcourt

Indigenous contractors of the Nigeria Agip Oil Company (NAOC) have opposed the ongoing acquisition of the company by Oando Plc, stressing that it would be inhuman and lack of global best practice to allow the deal sail through without settling all

debts owed them by the company. The contractors also threatened to occupy all facilities belonging to Agip in the Niger Delta if the oil firm did not redeem their arrears of unpaid contract debts.

Speaking under the aegis of Coalition of Indigenous Contractors of Agip (CICA) the contractors

decried a situation whereby NAOC would embark on such a deal without first discussing the modalities to pay all their outstanding debts.

The contractors, in a statement signed in Port Harcourt by its Chairman, Ifeanyichuku Olisa and Secretary, Mr. Felix Alumona

respectively, lamented that NAOC owed its members huge amount of money for jobs they did for the company.

The contractors therefore, called on President Bola Tinubu to intervene in the matter and ensure that all outstanding debts were paid before the conclusion of the acquisition.

Afe Babalola Empowers Outstanding Ekiti Farmers with N11.2m

Gbenga SodeindeinAdoEkiti

Founder of the Afe Babalola University, Ado-Ekiti (ABUAD), Aare Afe Babalola has presented the sum of N11,200,000 as empowerment for some farmers found to be most outstanding across the 16 Local Government Areas of the state.

The legal icon and foremost eduprenueur presented the cheques in the Institution during the weekend at the 9th edition of the grand finale of Aare Afe Babalola Agric Expo (ABAEX), now Afe Annual Farmers Exhibition (AAFEX).

Speaking with journalists, Afe Babalola said the goal of the

Initiative, since its inception in 2014, is to revive the interest of the masses, educated folks, the rich, the academics, and others to invest in agriculture.

The legal icon noted that technology has come to stay in the contemporary world, hence the need for farmers to familiarise themselves

with modern technologies for mass production of farm produce for the sustainability of food security.

To achieve this, he called on the administration of Governor Biodun Oyebanji of Ekiti state to assist and advise the 16 local government areas in the state to purchase Agricultural implements for farmers to hire.

Rural Devt Commissioner Hails Adeleke for Keeping Osun Safe

Yinka Kolawole in Osogbo

Osun State Governor, Ademola Adeleke, has been eulogised for his pro-activeness in ensuring that the state retains its position as the safest state in Nigeria.

The state Commissioner for Rural Development and

Community Affairs, Hon Gani Olaoluwa, made the commendation while declaring open a one-day workshop for unconventional security groups in the state.

The workshop, which was held at the State Development Centre, Abere, afforded the commissioner the opportunity to explain the

rationale behind the workshop.

With the theme: ‘Security Consciousness and Crime Prevention/Distribution of Essential Working Tools’, Olaoluwa said the workshop was put together to enable the groups to understand the nitty-gritty of effective community policing, so

as to sanitise the society from disgruntled elements.

In their separate lectures, retired Police AIG, Olafimihan Adeoye, and a security expert, Mr. Olatidoye Gbadegesin, contended that the security of lives and property is the responsibility of all for the total safety of society.

Nwifuru Uniting All Ebonyi Leaders, Says Federal Lawmaker

Benjamin NworieinAbakaliki

The member representing Ezza South and Ikwo federal constituency in Ebonyi State, Comrade Chinedu Ogah has commended the state Governor, Chief Francis Nwifuru for uniting all leaders across political divides in the state.

long-term national development. The NYFF embodies the collective determination to invest in the potential of Nigerian youth.

A statement at the weekend by Maimuna Sani of the Communications & Community Engagement, LEAP Africa, noted that NYFF Advisory Board is excited to announce and welcome Luminate as a funding partner to the project, adding that the partnership underscores a shared commitment to empowering the Nigerian youth and catalyzing impactful transformation for the long-term developmental landscape of Nigeria.

In a chat with journalists in Abakaliki, the federal lawmaker said that it was the first time in the history of the state that former governors and other leaders of the state in various political parties were integrated in the governance of the state.

Ogah added that unity among stakeholders was why all stakeholders honoured government function as they had been doing including the last Independence anniversary in the state.

He said: “Our leaders have started coming together. You can you see that it was the first time that all former Governors and members of other political parties attended government functions. They have been attending all government activities including the last Independence anniversary.

Our Governor, Chief Francis Nwifuru wants to bring all stakeholders together.”

“You can also see how he is aggressively concentrating on rural areas. He has approved the construction of over 65 rural roads. This means that he truly

acknowledge that power belongs to the people. When a Governor remembers rural dwellers, it means that the larger population has been remembered.”

“You can also see how he is empowering our youths with appointments and grants. It gladdens

me when our leaders have started talking with one mind. It hasn’t been like this before. For instance, our leaders and former Governors were the ones agitating over the renaming of Ebonyi State International airport after the former Senate President, Chief Chuba Okadigbo,” Ogah said.

WITH SAND UP TO HIS KNEES

Who else in this world will celebrate if his country’s reputation is soiled? Another lesson for Atiku is that Richard Nixon’s patience actually paid off because eight years later, he was elected US President in 1968 and was re-elected in 1972. He wouldn’t have been if he had soiled the US presidency’s reputation in 1960.

From everything that opposition supporters are saying on social media and other channels, they do not care a hoot if the reputation of Nigeria or its democracy is soiled by the intercontinental search for a smoking gun in order to bring down President Tinubu, if possible. If their candidates cannot get the presidency this time, they do not mind if the presidency is wrecked and robbed of all its lustre. Never mind what a former Chief Justice of Nigeria once said, that there must be Nigeria before there is a Supreme Court. There must be a presidency before there is presidential contest.

PDP leaders’ much hyped Chicago fishing expedition closely mirrored the Senegalese boy’s tall tale that his country’s radio sets are so powerful that sand from Egypt seeped through the airwaves and piled up to his knees. Many fantastic claims were thrown around, none of which stood up to scrutiny. A serious question is, even if a smoking gun is found, how can it make it into the appeal process at the Supreme Court, when it was not pleaded at the election tribunal? Although some lawyers said this is theoretically possible, other big SANs said it is highly unlikely because fixed time limits were placed for every stage of the election appeal process in order to prevent it from going on interminably, with serious injury to governance.

Now it is all academic because no smoking gun was found in the Chicago expedition. Having missed the live

broadcast due to time difference, I had to make do with reading the text of Vice President Atiku’s “world” press conference. In Nigeria, we add the word “world” to press conferences in order to confer on them the appearance of grandeur. In the event, Atiku Abubakar did not come out swinging at the press conference. His delivery was tame and was devoid of concrete allegations. Instead, he spent quality time appealing to LP and NNPP leaders to team up with him in the international search for elusive evidence of forgery. But why should Elu Pi support Atiku’s bid, since the logic of it is to remove Tinubu from the presidency and install Atiku, a nightmare scenario for Elu Pi, which thoroughly sabotaged PDP’s chances in the last election?

Among the things that unintentionally came out of this episode, was the different perceptions of “certificate” between Americans and Nigerians. Where the former see certificate as a piece of ceremonial paper which is printed by private vendors once a student is certified to have graduated with the diploma, in Nigeria certificate is seen as the only proof of graduation. A popular video on social media is of TV reporters attending graduation ceremonies of tertiary institutions and asking graduating students some simple questions. Suitably adorned in academic gowns and clutching their certificates, these graduates provide the silliest answers to simple questions. In contrast, the philosophical foundations of America’s education system as laid out by John Dewey emphasized practicality. Transcripts and demonstrable knowledge are the thing, not certificates.

I personally wondered when I first heard the allegation: why should Tinubu “forge” a certificate when he actually

did the course and graduated with very good grades, as shown in the results that Chicago State University [CSU] released? You forge something when you did not earn the real thing. If today somebody asks for evidence that I attended primary school and I cannot find my school leaving certificate after so many decades, a Nigerian electoral officer will insist on seeing the certificate as evidence whereas a practical-minded American will be satisfied after a brief interview.

If I demonstrate some familiarity with the Appalachian and Rocky Mountains, he will say, “This man must have done some schooling.” Long after the American is satisfied, a Nigerian election petition lawyer will still be busy awaiting the certificate signed by my long-deceased Headmaster.

Much fuss was also made about the gender “F” in the Daley College results. Some people will not let go even after the CSU Registrar testified during deposition in Atiku lawyer’s office that Tinubu’s application letter and all other papers marked him as male. The graduation photo album also clearly showed him to be a male. Was there a demonstrable advantage to posing as female in order to secure admission into this college? It is one thing to secure admission into an institution with someone else’s papers but, as someone pointed out, how then did Tinubu make straight A’s and B’s in all CSU courses except two, if he did not go through the qualifying course? I know some students who secured university admission in Nigeria with fake results and ended up being “advised to withdraw.” Unless you think Nigerian universities are better than America’s at weeding out imposters.

On the strength of this evidence of

KEVIN MCCARTHY AND THE TRAVAILS OF DEMOCRACY

leads to a loss of faith in the democratic system. Little wonder citizens become apathetic and view government as part of their problem instead of the solution to their problems. Corrupt and inefficient government is anathema to democracy. This lack of trust in government is exacerbated by a lack of electoral integrity, which results in an illegitimate democratic government.

Concerns about election manipulation, fraud, or foreign interference can erode trust in the electoral process and the legitimacy of elected leaders. Many countries are facing this anomaly. Studies have shown that the right to choose leaders in a free and fair election, an essential element of democracy, is on the decline globally and not just in sub–Saharan Africa.

Another symptom of democratic retreat is a lack of trust in democratic institutions, especially the Judiciary, parliament , media and electoral umpire A decline in trust in these institutions can weaken the checks and balances essential for a functioning democracy. A clime where justice is bought and sold to the highest bidder, where the ordinary man ceases to see the courts as the last hope of the common man, and where the executive arm hijacks the Judiciary and turns it into its puppet, can never uphold the ideals and ethos of democracy. Democracy retreats when the media, which should be the fourth estate of the realm and the watchdog of society, are controlled and manipulated by the government and special interests they are meant to hold accountable and stifle the voice of the voiceless and less powerful. Also, the spread of disinformation and the erosion of trust in media can harm democracy. When people no longer trust the information they receive, it becomes difficult for them to make informed decisions as voters and participants in the democratic process.

Besides, high levels of political polarisation contribute to a retreat of democracy by undermining trust between different population segments. When citizens view their political opponents as enemies rather than fellow citizens with differing views, it can lead to political gridlock and undermine the democratic process. Although politicians in all climes prefer to protect

Kevin Mccarthy

their interests above the public interest, leadership change does not necessarily have to be violent or monetarily induced. It should be a tool to reinforce acceptable values in society and reject values that do not represent who we are. High levels of social trust can lead to greater cooperation and a willingness to compromise, which is crucial for democratic governance. Social trust is more accessible to build in countries with good economic opportunities and high quality of living than in areas with high economic inequalities. Economic inequality contributes to a lack of trust in democratic systems. When citizens perceive that the political and economic elite benefit disproportionately from the system, it can lead to feelings

of disillusionment and a retreat from democratic engagement.

Finally, in some cases, declining trust in democratic institutions can lead to the rise of populist leaders who promise to address citizens' concerns but may undermine democratic norms and institutions in the process. Populist leaders often portray themselves as the sole legitimate voice of "the people," leading to a concentration of power and retreating from democratic principles.

To stem the tide of democratic retreat, we must tackle most of these issues and build a democracy that adopts all its ideals, ethos, and principles. Also, promoting moral reinforcement , civic education and political literacy can help

straw, some groups were reported last week to have called on President Tinubu to resign or alternately, for the National Assembly to impeach him. Again I am wondering. Before someone can resign, he must be properly occupying the office in the first place. Is this an admission that he was actually elected to the office by a plurality of voters, but you think he should vacate it on the say-so of some busybody groups? The demand for impeachment is even more curious. National Assembly can only impeach a properly elected person. However much Senate President Godswill Akpabio likes, he cannot impeach me because nobody elected me to any public office. Nor can Senate impeach Atiku Abubakar or Peter Obi.

During US President Bill Clinton’s impeachment trial in the 1990s, a Harvard Law professor said impeachment is a serious matter when a few hundred legislators assume the power to overturn a mandate conferred [in Tinubu’s case] by 8.8 million voters. It is undertaken only in the gravest of circumstances, when the person’s continued stay in office imperils the Republic. Pray, which “finding” from this failed Chicago expedition imperils our Republic?

And then there was this inadvertent, Odiye-style own goal. Former Vice President Atiku said at his press conference that in 2003, he prevailed upon President Obasanjo to spare Tinubu as Governor of Lagos and not take the state away in PDP’s controversial sweep of the South West. Is that right? So it was Obasanjo and Atiku, not voters, who decided who stayed in office and who was ejected? How was that different from what Mayor Dick Daley said in 1960? No wonder they went to Chicago.

build trust in democratic institutions by ensuring that citizens understand how the system works and how to engage effectively in the political process. Democracy worldwide is challenged, and it is time all democratic governments worked to prove the superiority of democracy to other forms of government. The rise of successful alternative governments, like in China, the Middle East, and different benevolent autocratic regimes, has questioned the efficacy of democracy and its principles of freedom, equity, and periodic elections. We cannot yet proclaim the death of democracy, but we can indeed say that democracy, as an ideal, is under intense attack. Democrats all over the world must defend it!

Super Sub Martinelli Moves Arsenal Level with Spurs at the Summit

Ends Gunners 15-game drought against defeated Man City

Substitute Gabriel Martinelli fired a last-gasp winner to earn Arsenal a 1-0 victory over Manchester City yesterday, a result that moved Mikel Arteta's side level on points with their North London rivals Tottenham Hotspur at the top of the Premier League.

Arsenal came into the match having not beaten City in the league since 2015, a run of 15 games – their longest winless streak against a single opponent in league history.

Ending such a barren run looked unlikely as City had the better of the chances in the first half, with Arsenal's Declan Rice clearing off the line to keep the champions at bay.

Arsenal did not have a single shot on target in the opening period, but upped the tempo after

PREMIER LEAGUE

the break, even though City still created the better openings despite their Premier League top scorer Erling Haaland being kept quiet all afternoon.

The game appeared to be edging towards a stalemate before Martinelli struck four minutes from time, a deflection off City defender Nathan Ake taking the ball past keeper Ederson.

The goal sparked wild celebrations at the Emirates, as Arsenal moved above City into second place on 20 points, two above the champions, and trailing Spurs only on goals scored.

Arsenal were dealt a huge blow ahead of kickoff as it was confirmed the injured Bukayo

MFM, Bayelsa Whales Qualify for Zenith Basketball League Finals

MFM Women Basketball Club at the just-concluded Second Phase stage of the Atlantic Conference of the Zenith Bank Women's Basketball League braved all the odds to qualify for the finals of the league scheduled to take place in Lagos later this month.

The last edition’s runners up was in third position going to the Second Phase with First Bank and Bayelsa Whales already ahead of them, but everything turned around in Asaba, Delta State, venue of the Second Phase as they won all their five games, defeating both First Bank and Bayelsa Whales to emerge the best team in Phase 2.

First Bank was the most disappointing team of the Second Phase, winning just a game as they failed to qualify for the finals while Bayelsa Whales joined MFM for a shot at the title in Lagos.

Speaking with reporters, a player of the MFM team, Favour Eric, said the team really worked hard to achieve this goal of making it to the finals.

MFM created few years ago will be making her second appearance in the finals while Bayelsa Whales, formed less than a year ago are also in the final four.

Last edition champions, Air Warriors and former champion, Nigerian Customs already qualified from the Savannah Conference and the four will battle for the coveted trophy at the Indoor Sports Hall of the National Stadium, Surulere, Lagos, later in the month.

Sponsors, Zenith Bank Plc and the Nigeria Basketball Federation have declared readiness for the finals which will involve just the best four teams rather than eight teams as we used to have in the past.

1XBet Cup: Capital Avalanche, Soccer Touch Headline Match-day 5 Clashes

Capital Avalanche and Soccer

Touch will clash today (Monday) as Group A games resume at the Nitel Ground in Oshodi in the ongoing maiden edition of the 1XBet Cup.

The second match of the day will be between Cheche Stars FC and Fackson FC, a match which will decide the teams that will move ahead in the competition.

On Match-day 6 (Tuesday), Group B games involving Bariga FCand Ifako FC will take place, while G-innovation will do battle with Emiloju FC in the second game.

Fackson leads Group A with four points, following its 1-1 draw against Capital Avalanche on Friday, while Soccer Touch, Capital Avalanche and Cheche Stars, have three, two and one points respectively.

Bariga FC occupy the top spot with four points in Group B, after defeating hard-fighting and youthful Emiloju FC 1-0, in its second game and playing 2-2 draw against G-Innovation in the Group B opening game.

G-Innovation and Ifako FC trails Bariga FC with two points while Emiloju FC occupy the rear with a point.

On Wednesday Group A Winner will battle Winner B winners to

Saka would miss a Premier League game for the first time since May 2021, ending a run of 87 consecutive appearances, the longest ongoing run in the competition.

Without the flying forward, Arsenal looked sluggish early on, with Croatian defender Josko Gvardiol denied by Rice's intervention, while Julian Alvarez almost diverted Arsenal goalkeeper David

Raya's hesitant clearance into the net.

Martinelli's introduction livened things up, as he soon had the home side's first effort on target in the match, a fierce strike straight

at Ederson.

With the international break to follow, the life seemed to be sucked out of the game before Martinelli broke City hearts.

RESULTS

Premier League

Brighton 2-2 Liverpool

West Ham 2-2 Newcastle

Wolves 1-1 Aston Villa

Arsenal 1-0 Man City

La Liga

Villarreal 1-2 Las Palmas

Atletico 2-1 Sociedad

Celta Vigo 2-2 Getafe

Alaves 1-1 Real Betis

Serie A

Monza 3-0 Salernitana

Lazio 3-2 Atalanta

Cagliari 1-4 Roma

Napoli 1-3 Fiorentina

NPFL

Gombe 2-0 Enyimba

Akwa Utd 0-0 Sporting

Kwara 1-0 Abia

Lobi 3-2 Sunshine

Tornadoes 1-0 Rivers Utd

Plateau Utd 1-0 Heartland

Remo Stars 2-1 Rangers

NPFL: Gombe Stun Enyimba, Remo Stars’ Alimi Haunts Rangers

Femi Solaja

Gombe United and new entrant to the Nigerian topflight, Sporting Lagos, were the two teams that headlined the Match-day 2 of the Nigeria Premier Football League (NPFL) weekend matches across the country.

At the Pantami Stadium, Gombe United stunned cup holders Enyimba of Aba with 2-0 victory.

for Gombe when he added the insurance goal on the dot of 90 minutes.

Elsewhere in Uyo, Sporting Lagos secured top spot on the table after holding former champions Akwa United to a goalless draw at the Nest of Champions Stadium.

It was another home win for Remo Stars no thanks to Sikiru Alimi who grabbed the winning goal at the Ikenne Stadium.

Rangers’ Femi Ogunleye fired a low strike from outside the area that caught Kayode Bankole in goal for Remo napping.

Rangers almost doubled their lead few minutes later but Bankole this time, was up to the task with cool save off Ogunleye.

determined to hold their line.

However, returnee, Alimi who scored the winner last season was on target against his former club with a clinical header in the 53th minute. Remo were able to hold on till the end of the match.

bring bring the DBI Conference to a close.

Chijioke Alakwe got the curtain raiser for the hosts two minutes before the half time break. Ahmed Jimoh made the three points safe

They Flying Antelopes appear in control of the game and heading to share the points with Remo before Alimi snatched the winner. In the 10th minute of play,

The stadium however roared with celebration in the 36th minute when Seun Ogunribide tapped in from close range after Ranger's defenders failed to clear their line.

The second half saw the home side more desperate to score but the Rangers players were more

In other results, Kwara United were one goal better against Abia Warriors while Lobi Stars won 3-2 against Sunshine Stars Niger Tornadoes pipped former champions, Rivers United by a lone goal while Plateau United won by a lone goal against Heartland to complete the matches of Match Day-two.

West Africa Trophy: It’s Five over Five for Nigeria’s Yellow Greens

The Nigerian national men’s cricket team, the ‘Yellow-Greens’ have maintained their unblemished record at the ongoing West African Trophy, taking place at the Tafawa Balewa Square in Lagos.

The event has Ghana, Sierra Leone, Rwanda, and host Nigeria, taking part in a T20i format game. And, 10 of the 20 matches have been completed so far, since the event started on October 4, 2023.

Nigeria currently stands head and shoulder above other competitors with 10 points from five wins in five matches. Ghana comes in second place with six points from three wins in five matches too.

Rwanda has four points from two wins, while Sierra Leone has lost all five matches at the event so far.

The championship will observe its first break today, October 9, but play will resume on Tuesday morning with a second tie between Nigeria and Rwanda, while Sierra Leone will be seeking her first win in their second tie with Ghana at the

CRICKET

tournament.

Nigeria’s Head Coach and HighPerformance Manager, Steve Tikolo, said that the matches are key for his side, ahead of the preparation for the final World Cup Qualifier in Namibia later in the year.

“We are winning, but what is key here is that the team is having playing time, and that is important to implement all the drills we have been doing in practice. The games in Namibia, are going to be a different feel altogether,” he said.

The Yellow-Greens have not had an international encounter in nine months as two international events they had camped for were postponed.

The West African Trophy has been put together by the Nigeria Cricket Federation in conjunction with Dafabet and supported by Sparkle, and the Lagos State

government.

President of the Nigeria Cricket Federation, Uyi Akpata, added that the tournament is a big gain for Nigeria and a test of her capacity for event management on a bigger scale.

“We have been on a strategic

drive to grow the game of cricket

and one of our objectives is to grow the capacity of our personnel to align with our purpose of delivering commensurate values to every stakeholders invested in us.

“This event helped us tick the column on global exposure for

partnering brands as all our matches have been streamed seamlessly, from the first day, to millions of fans across the world,” he concluded. The event, will be concluded on Sunday, October 15, 2023, when the winner of the two semi-final matches will lock horns.

Kano Pillars veteran star and Captain, Rabiu Ali (right) in action against Katsina United player...at the weekend

Nigeria's Captain, Sylvester Okpe (Right), congratulating his Yellow Greens teammates at the fall of one of Ghana's wicket, at the ongoing West Africa Cricket Cup, at the Tafawa Balewa Cricket Oval in Lagos... at the weekend

MISSILE

PENGASSAN to FG

“The government has to come clean. In reality today, there is a subsidy because as of when the earlier price was determined, the price of crude in the international market was somewhere around less than $80 a barrel. But today, it has moved to about $93/94 per barrel for Brent crude. So, because it has moved, then the price of petrol also needed to move.The reason we are paying subsidy today is because our exchange rate has run away..." –PENGASSAN National President, Festus Osifo, accusinggovernmentofsecretlyrestoringsubsidy on petrol.

VIEW FROM THE GALLERY

With Sand Up to His Knees

Maybe because I am in Egypt, the politico-legal fishing expedition that former Vice President Atiku Abubakar launched in Chicago to try to unearth something against President Bola Tinubu reminded me of an old tale in our primary school English textbook. It was about a Ghanaian boy and a Senegalese boy who were boasting about the power of radio stations in their respective countries. The Ghanaian boy made a fantastic claim. He said, “We have radio sets so powerful you can hear the announcer’s heartbeat.” “That’s nothing,” said the Senegalese boy. “Last time I tuned in on Egypt and in ten minutes, the sand was up to my knees.” Before Chicago State University turned over all the papers and before its Registrar did the deposition, I could almost hear former Vice President Atiku Abubakar’s lawyers boasting that they could hear the 90.1 Moody Radio Chicago announcer’s heartbeat, and that damning evidence in the form of Chicago’s silty clay loamy soil would seep through airwaves up to their knees.

Atiku

After years of arduous campaigns leading to last February’s presidential election and the legal tussle that followed, the

last place Nigerians expected the matter to end up was in Chicago, a city that was once the Archilles’ heel of American elections. There was this story I read in a small book many years ago, about the 1960 US presidential elections. The election in Illinois was a cliff hanger. At one point during the long election night, CBS, NBC and ABC television networks projected that whoever wins the state of Illinois would win the election. At that point, counting was nearly complete in rural parts of the state, which heavily vote Republican. But in urbanized areas, including the city of Chicago, which tend to vote Democratic, counting was progressing slowly. It was suspected that Chicago Mayor Richard “Dick” Daley, a Democrat, had deployed his infamous “Daley political machine” to slow the count in Chicago, until he saw what Republicans got in rural Illinois. Democratic presidential candidate John Kennedy anxiously placed a phone call to Dick Daley and asked if he saw the networks’ projections. At that point when the election outcome between Kennedy

DAKUKU PETERSIDE

and Republican candidate Richard Nixon was far from certain, Mayor Daley allegedly said, “Mr. President, don’t worry. Everything is under control.” I thought Vice President Atiku Abubakar went to the worst place possible to look for evidence of election irregularity in Nigeria.

However, there was another important lesson from the 1960 US election that PDP’s candidate missed. According to the story I read, Republicans intercepted the Kennedy-Daley phone call and when Kennedy won Illinois and the election, they urged Nixon to demand a recount. For all his reputation for crude politics, which 14 years later led to Watergate and his forced resignation from the presidency, Richard Nixon refused. He said mounting a challenge to election results will soil the reputation of the United States and its democracy. In contrast, opposition supporters in Nigeria are in overdrive on the social media, saying “Nigeria’s image has been soiled” by their “findings.”

Continued on page 38

Kevin Mccarthy and the Travails of Democracy

Too many unusual events in politics point to the fact that democracy is under threat. A few events, some recent and others very current, will demonstrate this point. The first is Donald Trump, possibly the most controversial US president, who set democracy back when he refused to concede to President Joe Biden and went on to encourage rebellion against democratic ethos and the US institutions. The second is the wave of coups in SubSaharan Africa in the past three years, which may signal a lack of faith and a decline in democratic values. However, some of them result from specific historical developments, which may have little to do with the fortunes of democracy itself. Over the past decade, since 2013, there have been twenty-two coups and attempted coups across the continent, with fourteen of them taking place in the past three years alone (2020-2023). The third is the impeachment of US House Speaker Kevin McCarthy, the first in US history. The reasons for his impeachment may be far-flung, but at the core are the triple issues of lack of trust in the former

Speaker, the dominant presence of Trump in the Republican Party, and the bitter political rivalry between hardcore liberals and conservatives in American politics. The single most important factor underlying the congressional turmoil is the dominant presence of Trump in the Republican Party. Never in the history of the US has the fate of the Grand Old Party (GOP) been so tied to an individual as currently being experienced. The undercurrent of what swept away McCarthy is the tussle between antiTrump and pro-Trump forces in the US congress, particularly in the Republican Party. The few Republican congressmen who cocked the gun on McCarthy only needed the ready massive number of the Democrats to demolish the Speaker whom neither side trusted. Why should we be interested in the impeachment of McCarthy in the US?

There are parallelisms in the issue of trust and mechanics of politics between American and Nigerian politics. The point of trust in public life is central to leadership, and successful leaders cultivate trust among fellow leaders,

followers, and the public in general. I have addressed in this column on 10th October 2022, the importance of trust in leadership. Transactional leaders may have their way but can never be the model. When it comes to democracy, what people want in leadership is a trusted person who will not be transactional. He must be a man of his word, not a two-faced dealer, hustler, and liar. Any advantage such leaders may gain is temporary, and eventually, their sins will catch up with them. The best word to describe McCarthy is glad-hander. He plays with Trump at night, the Democrats in the morning, and Republicans at noon. As long as it serves his interests, he enjoys it. We have too many of his type in Nigerian politics, and they will likely have the same fate as McCarthy did eventually. The relationship between trust and the decline of democracy is a complex and vital issue in politics and contemporary global affairs. Democracy relies heavily on the trust of its citizens in various institutions, including the government, the rule of law, and the electoral process. When trust erodes, it can lead to a retreat

or erosion of democratic values and institutions. Trust plays a vital role in the health and stability of democratic systems. The decline of democracy often involves a breakdown of trust in key institutions and processes, which can lead to political instability, the rise of authoritarian leaders, and a weakening of democratic values. Efforts to rebuild trust and strengthen democratic institutions are essential for maintaining and revitalising democratic governance.

Let us examine the various aspects of trust in democratic government and identify how we can build more trust in the system to stem the decline of democracy.

The first sign of democratic retreat is the lack of trust in the government. Trust in government is a crucial component of a healthy democracy. Citizens must believe their government is responsive to their needs, accountable, and acting in their best interests. When trust in government declines due to corruption, inefficiency, or perceived lack of representation, it

Continued on page 38