WEDNESDAY 12TH OCTOBER 2022 by THISDAY Newspapers Ltd

Floods: 500 Confirmed Dead, 45,000 Houses Destroyed, 70,000 Hectares Farmlands Submerged Nationwide FG insists magnitude of current natural disaster not seen since 2012 No need for panic over food insecurity, minister assures Emmanuel Addeh, James Emejo and Kasim Sumaina in Abuja

The hellish condition of those impacted by the flood in several states is intensifying even as the

federal government confirmed yesterday that at least 500 persons had died in the last few weeks

due to the devastating impact of the natural disaster. The figure was released at a

meeting in Abuja convened by the federal government comprising all relevant agencies of connected to

tackling the menace in the country. Continued on page 16

FG Issues Lagos Approval Letter on Proposed Lekki-Epe International Airport... Page 108 Wednesday 12 October, 2022 Vol 27. No 10046. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

Why APC is Shying Away from President's Records, Atiku Campaign Reveals... Page 114

Buhari: Citizens Who Contribute to National Devt Deserve to Be Appreciated Honours Obaigbena, Okonjo-Iweala, Amina Mohammed, Lawan, Omo-Agege, Mustapha, Kyari, Fashola, Adichie, Wigwe, Agboola, 437 others Reiterates readiness to bequeath a secure nation to successor next year Ozekhome flays exclusion of Saraki

Continued on page 115

Chairman, THISDAY/ARISE Media Group, Prince Nduka Obaigbena (left) in warm hand-shake with President Muhammadu Buhari after he was conferred with the national honour of the Commander of the Order of Niger (CON) in Abuja ...yesterday PHOTO: GODWIN OMOIGUI

DG, WTO, Dr. Ngozi Okonjo Iweala, being decorated with Grand Commander of the Order of Niger (GCON) by President Muhammadu Buhari

Minister of Works and Housing, Mr. Babatunde Fashola, receiving his award Commander of the Order of Niger (CON), from the president

Group Managing Director, Access Corporation, Mr. Herbert Wigwe, receiving his award, Commander of the Order of Niger (CON), from the president

UN Deputy Secretary General, Ms. Amina Mohammed, being Docorated with the Grand Commander of the Order of Niger (GCON ) by the president

Group Chief Executive, Oando Plc, Wale Tinubu (left) receiving his award, Commander of the Order of Niger (CON), from the president

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͺ ˾ T H I S D AY

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580

NEWS

2022 NATIONAL HONOURS AWARDS... L-R: Dein of Agbor, Benjamin Ikenchukwu; Delta Governor and Vice-Presidential Candidate of PDP, Senator Ifeanyi Okowa; Olu of Warri, Atuwatse III; Chairman, UBA PLC. Tony Elumelu; and Minority Leader, House of Representatives, Ndudi Elumelu, after receiving National Honour Awards from President Muhammadu Buhari at the 2022 National Honours Awards in Abuja... yesterday

Buhari: Combating Wastage, Mismanagement Key for Financial Sustainability, Economic Prosperity Says $100bn required to meet SDGs James Emejo in Abuja President Muhammadu Buhari yesterday said tackling wastage and mismanagement of public resources remained a crucial component of financial sustainability. Buhari also put the estimated cost of Nigeria's Sustainable Development Goals (SDGs) financing requirements at about $100 billion. The president said the accounting profession has a sacred responsibility to ensuring prudence, transparency and accountability in the administra-

tion of public resources. Speaking at the opening of the 52nd National Conference of the Institute of Chartered Accountants of Nigeria (ICAN), with the theme: “Nigeria: Adopting Sustainability for Economic Prosperity", Buhari, noted that sustainability reporting is fast becoming a growing reporting area in modern business globally. He said the National Development Plan (2021-2025 and associated strategies had been put in place to reflect emerging threats and opportunities and develop a clear path to reaching

Economy still in danger, ICAN insists

the nation's goals and priorities. Represented by the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, the president said the growing momentum towards increased organisational disclosure of environmental, social and governance information had made more companies see the need to report on their Environmental Social Governance (ESG) operations. Buhari's speech was, however, read by the Senior Special Adviser to President on Economy, Dr. Sarah Alade, who also stood in for the

minister. The president also said the federal government was firmly committed to the 2030 Agenda for sustainable development and SDGs. He pointed out that governments and regulators have increased interest in sustainability reporting, given the demand for disclosure of ESG information from investors and the public. He charged ICAN to embolden chartered accountants to lead the innovations around sustainability and sustainability reporting, adding

Obasanjo, Experts Task Elites on Reversing Nigerianisation of Poverty Dike Onwuamaeze Nigeria’s economic, political and academic elites were, yesterday, challenged to rise up to the duty of elite bargain and consensus that could have growth and development as its focus in order to reverse the country’s decent to Nigerianisation of poverty for the rest of Africa. This challenge was thrown yesterday during Aig-Imoukhuede Foundation’s “In Conversation with Professor Stefan Dercon” by former President Olusegun Obasanjo, along with other eminent Nigerians like former Chairman of INEC, Professor Attahiru Jega, former Deputy Governor of Central Bank of Nigeria, Professor Kingsley Moghalu, Chairman of Aig-Imoukhuede Foundation, Mr. Aigboje Aig-Imoukhuede and the Presidential Candidate of the Labour Party, Mr. Peter Obi, amongst others. These eminent Nigerians argued that development would not happen until the country’s elite jettison self-centered gains and began to unite around certain long term development objectives, to influence polices toward those directions. They also charged Nigerians to be wary of bringing the anger of the youths on the entire nation by mismanaging the 2023 general election. Dercon, who was the author of “Gambling on Development:

Why Some Countries Win and Others Fail,” warned Nigeria’s elite against favouring distributive politics by yielding to zero-sum game, “which means that those, who control the state will make sure that they benefit from it and those who do not control won’t get anything,” adding: “Spending 10 minutes to run a country and the remaining 23 hours, 50 minutes to line ones pocket” ruins development. He said conceptualisation of politics as stealing from the people and sharing the loot with a few would increase poverty, pointing out that Nigeria, along with Angola, the Democratic Republic of Congo (DRC), Kenya, Madagascar, Malawi, and Zambia were among the nations that have doubled the people living in extreme poverty instead of reducing it. He said Nigeria needed “an elite bargain that involved a shared commitment to growth and development, serious about peace and stability and a self-aware state in the service of growth and development.” Dercon said sensible policies matter and actions and behaviours of the actors could make a difference by influencing development. Obasanjo, in his contribution, said, “In Nigeria, the talk is not about Africanisation of poverty but the Nigerianisation of poverty for Africa. If Nigeria gets it right, chances are that we might become a catalyst for the rest of Africa

to begin to thrive. And once Nigeria does not get it right, most countries in Africa cannot get it right.” He said though Nigerian elite must be aware that not “a consensus that the critical mass of the elite must agree on and influence the movement of the state to that direction. Two, there must be a focus point and unity of purpose, which our national anthem and pledge have given us something to hang on, and three,

development does not happen unless it is made to happen and must go along with equity by improving the citizens’ living standard. Nigeria’s case is not a basket case. Nigeria situation is a poor management case.” He added that the point has been made clearly that if Nigeria failed to take 2023 very seriously, “we will all be consumed by the frustration and the anger of the youths. And I don’t take that lightly.”

that accountants are noted for their strong ethical foundations, robust qualifications framework, and extensive skills and experience in generating and assuring decisionuseful information are best placed to deliver on the emerging need. He said financial sustainability remained a vital component of his administration's sustainability agenda. Buhari added, "Nigeria is counting on your professional support to ensure economic sustainability becomes a national culture. The National Development Plan has advanced clear strategies to intensify the transition and drive toward financial sustainability. "We must deepen the revenue base of the economy through broader and strategic diversification. " The recent Environmental Social Governance (ESG) regulations by the Securities and Exchange Commission to catalyse corporate and sub-national bond issuance are also of note." Buhari, further noted that although, the total issuance size of both the federal, state and corporates are relatively small, given the global appetite and increasing awareness around sustainability, "we believe there will be more action". However, in his remarks, the President of ICAN, Mallam Tijjani Musa Isa, said the growing interest in ESG issues and the increasing

desire to transit to net-zero businesses provided a strong basis for the conference. He said investors were reevaluating their resources channels because of the consequences of social and economic distortions on growth and development, adding that there has been a demand for companies to deliver values in more sustainable and responsible ways. This, he said, had led to a significant shift in the direction of investors’ funds. “For instance, the Global Sustainable Funds Flows noted that inflows into sustainable funds rose from $5 billion in 2018 to more than $50 billion in 2020 – and then to nearly $70 billion in 2021. “To effectively participate in the competitive global space, there is the need for our economy to revisit our environmental, social, and governance priorities. Nigeria should consciously deploy resources in creating the regulatory and infrastructural environments that encourage the transition to net-zero business models by enterprises. “This would avail the dual advantage of attracting more sustainable funds into the country and enhancing our social license - the perception by stakeholders that businesses and industries are acting in a way that is fair, appropriate, and deserving of trust.”

FG Hails US over Repatriated Benin Artefacts Olawale Ajimotokan in Abuja The federal government has applauded the United States of America over the repatriation to Nigeria, 23 Benin Bronzes, which were part of the thousands of artifacts that were looted by the British during their invasion of Benin Kingdom in 1897. The Minister of Information and Culture, Alhaji Lai Mohammed gave the commendation at the Benin Bronzes' repatriation ceremony in Washington, DC yesterday, noting the artefacts were vital to the culture that produced them. ''Please permit me, on behalf of the government and people of Nigeria, to most sincerely thank the United States and her major cultural heritage institutions for the

return of these highly-cherished Benin Bronzes to Nigeria - which is the reason we are here today. ''These artifacts are intrinsic to the culture that produced them. A people ought not be denied the works of their forebears. It is in the light of this that we are delighted with today's repatriation of the Benin Bronzes,'' Mohammed, was quoted in a statement by Segun Adeyemi, the Special Assistant to the President (Media), Office of the Minister of Information and Culture to have said. The minister acknowledged the Boards of Trustees of the Smithsonian National Museum of African Art, the National Gallery of Art and the Rhode Island School of Design for engaging in the discussions with Nigeria's National Commission for Museums and Monuments that led

to the repatriation of the artifacts. He also said Nigeria would soon launch an international traveling exhibition with the artifacts being repatriated in a manner that would win more friends and promote greater goodwill for the country and the ethnic groups that produced the artefacts. He described the release of the Benin Bronzes found in the US as a testament to the success of the campaign for the return and restitution of Nigeria's looted/ smuggled artefacts from around the world, which was launched in November 2019. ''We have also received or are in the process of receiving repatriated artifacts from The Netherlands, the University of Aberdeen in Scotland, Mexico, the University of Cambridge in

the United Kingdom and Germany, among others,'' he added. He recalled that Nigeria and the US have signed a bilateral cultural property agreement to prevent illicit import into the United States of some categories of Nigerian artefacts, saying the agreement solidifies their shared commitment to combat looting and trafficking of precious cultural property, while also, “establishing a process for the return of trafficked cultural objects, thus reducing the incentive to loot sites in Nigeria,” the Minister said. In his remarks, the Secretary of the Smithsonian, Lonnie G. Bunch III,, said the institution was humbled and honoured to play a small role in transferring ownership of the art works to Nigeria.

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

A COMMUNITY IN KOGI SUBMERGED BY FLOODS... A canoe ferrying passengers across the ﬂoods in Ganaja Village in Lokoja some days ago

F LO O D S : 5 0 0 C O N F I R M E D D E A D , 4 5 , 0 0 0 H O U S E S D E ST R OY E D , 7 0 , 0 0 0 H E C TA R E S FA R M L A N D S S U B M E R G E D N AT I O N W I D E Aside the 500 persons that have now died as a result of the national disaster, the federal government also revealed that 45,249 houses have been totally destroyed while 70,566 hectares of farmlands have been damaged. However, the Minister of Agriculture and Rural Development, Dr. Mohammed Abubakar, yesterday said though Nigerians could express concerns over the devastating floods across the country, there should be no panic over threats to food security. THISDAY recently reported that a boat carrying more than 80 people, capsized in the south-eastern state of Anambra last Friday, as people desperately tried to escape the floods that had risen as high as rooftops. In the same area, at least 600,000 people had been displaced, according to the country’s National Emergency Management Agency (NEMA). Apart from the catastrophic flooding for states located along the courses of rivers Niger and Benue, at least three of Nigeria’s overfilled reservoirs have overflowed, causing havoc in its wake. The Anambra tragedy followed the devastating aftermath of a flood that swept through swaths of neighbouring north-central Kogi state a week ago, leaving buildings submerged under water that rose to levels not seen in a decade, according to officials of the Kogi Red Cross Society. Also heavily submerged are communities along the fringes of River Benue in Nasarawa State and River Niger traversing the boundary between Kwara and Niger states. “Many people have been rendered homeless in Lokoja … as houses were submerged by flood. The roads served as a link between North Central and Southern parts of the country and many passengers were stranded,” the Red Cross told CNN. Governor of Kogi State, Mr. Yahaya Bello had revealed that nine areas along the Niger and Benue River were affected. “Ibaji is almost 100 per cent under water while the rest range from 30 per cent up … We therefore have a serious and humanitarian tragedy on our hands, but I wish to assure every person, family and community which has been affected that they are not alone and that help is coming,” he noted. The situation in Kogi, THISDAY gathered, had affected the movement of inter-state travellers, some of whom were stuck in traffic for days. In addition, the situation had seriously impacted fuel supply in Abuja and environs as tankers from the southern part of the country

have not been able to move beyond Kogi which serves as a gateway from the south to the north. While displaced persons are now taking shelter in the homes of relatives and good Samaritans in neighbouring towns unaffected by the flood, Bello noted that he was working to reduce the impact of the flood. One of the causes of the latest round of flooding, NEMA said, was the release of excess water from a dam in neighbouring Cameroon which it said was complicating Nigeria’s already disastrous flood crisis. “The Lagdo dam operators in the Republic of Cameroun have commenced the release of excess water from the reservoir by 13th September, 2022. We are aware that the released water cascades down to Nigeria through River Benue and its tributaries thereby inundating communities that have already been impacted by heavy precipitation,” NEMA said recently. But Kogi in the north central is not the only state reeling from the devastating impact of the latest flood. In neighbouring Nasarawa state, which is also grappling with flood water cascading down the River Benue, farmers are counting their losses from ravaged farmlands. It’s the same in north-eastern Adamawa, where more people are dying from flood-related incidents. In the south-east too due to River Niger bursting its banks around Onitsha and Ogbaru, many houses are now also submerged. One of the biggest impacts of the flooding THISDAY learnt would be food shortage as farmers in the north cannot move their produce and animals to the south while tanker drivers cannot move fuel to the north. Areas mostly impacted in Anambra aside Ogbaru and Onitsha North are Onitsha South, Anambra East, Anambra West, Awka North, Ayamelum and Oyi local government areas. In Kogi, the popular Ganaja road leading to Ajaokuta, Kogi East and Eastern part have been submerged while oncoming have had to park by the roadside. The situation is also expected to affect the price of rice around December as Olam Nigeria Limited, one of Nigeria’s biggest agri-business companies, said the massive flooding from River Benue damaged the company’s crops and infrastructure. Vice-president, Olam Nigeria Limited, Ade Adefeko had said the incident affected the company’s $20 million investment and about 25 percent of Nigeria’s rice needs, describing the situation as “very terrible.” “The entire team from the farm

worked very hard to prevent the colossal damage...but it affected us to a large extent. We supply about 25 per cent of Nigeria’s rice needs and that has been affected and have lost over $20 million,” he said. “When they say it rains. It’s not really raining, it’s pouring. So it’s terrible” he added. The Olam Rice Farm is located in Lukubi Doma Local Government Area of Nasarawa state. The farm sits on 10,000 hectares and is one of the largest rice farms in Nigeria and Africa with N140 million worth of investment. But the Permanent Secretary, Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, Sani Gwarzo, while releasing the latest statistics yesterday, told journalists that the government was working hard to address the situation. "In the area of the flood disaster outlook, records from the field have indicated that the 2022 flood is comparable only to the 2012 flood in terms of human displacement, livelihood disruption, infrastructure damage and environmental dislocation. "The National Emergency Management Agency has confirmed that as at October 9, 2022, water levels at Lokoja and Makurdi along Rivers Niger and Benue is 11 per cent above the level recorded in 2012. "So far the flood has wreaked havoc in 31 states of the federation and the Federal Capital Territory (FCT). Over 500 persons are reported dead; 1,411,051 affected; 790,254 displaced persons with 1,546 persons injured. "Furthermore, 44,099 houses are partially damaged; 45,249 houses totally damaged; 76,168 hectares of farmland partially damaged and 70,566 hectares of farmland are completely destroyed by the great deluge," he revealed. He added that relief materials were being made available to persons in need, stressing that NEMA had provided relief support to over 315,000 displaced persons across the flood disaster hotspots where state capacities had been overwhelmed. He added: "The provision of food and non-food items for immediate relief and building materials for reconstruction and rehabilitation is ongoing. Field assessment of the situation is constantly received from NEMA zonal, territorial and operations offices across the country.” According to Gwarzo, there had also been a deployment of vital materials so as to save lives, adding that the positive outcomes from the field were being felt by those impacted. He explained that as part of the federal government’s food

intervention to cushion the effect of inflation and pre-harvest food shortage, President Muhammadu Buhari had approved the release of 12,000 metric tonnes of grains from the national strategic grains reserve silos overseen by the agriculture ministry.

Floods: No Need for Panic over Food Insecurity, Says Abubakar

Meanwhile, Minister of Agriculture and Rural Development, Dr. Mohammed Abubakar, yesterday said there should be no panic over threats to food security. Speaking at a media briefing to mark the 2022 World Food Day celebration with theme: "Leave no one behind, better production, better nutrition, a better environment, and better Life," he maintained that the federal government was doing everything humanly possible to ensure that Nigerians do not go hungry. He said this was why the country has large quantities of grains stocked in the Strategic Grains Reserves, adding a lot of strategies were being put into action to ensure Nigerians don’t go hungry. He said, “We don’t have a shortage of food in Nigeria at this point and we want to make sure there is no shortage. But yes, prices have risen…” But the minister’s assurances came on a day the Food and Agriculture Organisation (FAO) and Oxfam highlighted continued threats to the country’s food security. The minister said the government had also invested so much in the agricultural sector and created employment for Nigerians, insisting that President Muhammadu Buhari’s vision to lift 100 million Nigerians out of poverty was still on course. Commenting on the flooding situation, the minister said, “We should be concerned, I am not going to tell you there’s no reason to be concerned, but panic, no! Because if you panic, then you lose your sense of ability to put yourself together to produce solutions. So, don’t panic but be concerned; we know what to do to correct and do damage control and we are doing that in every respect. And the government is doing everything to ensure there is no hunger.” Abubakar, however, said in the face of global crises and escalating threats, therefore, global solutions are needed more than ever to safeguard life and transform our agri-food systems. The FAO is actively working towards the achievement of food security and nutrition and supporting the necessary transformation of agri-food systems in collaboration with other UN agencies and partners

at international and national levels. He also reaffirmed a renewed commitment between the federal government and FAO for continuous collaboration to strengthen the agricultural sector and enhance food and nutrition security while contributing to the eradication of poverty, hunger, and malnutrition in Nigeria. The minister said, “As we mark the 2022 World Food Day, the world continues to grapple with multiple crises which include conflicts, displacement, economic shocks, escalating food prices, climate change, and so on. “This has resulted in food scarcity and affected global food supply; all must come together to bring about the transformation that the world needs.” According to him, “The day is like a reminder to eat mindfully and consider that millions of people are unable to afford one meal for themselves. “It is important that we rededicate ourselves to this very important event and its purpose by drawing attention through global awareness, bold action, and innovation to enhance effectively the channels that make our food systems stronger and more equitable.” However, in his remarks at the occasion, FAO Country Representative in Nigeria and ECOWAS, Mr. Fred Kafeero, said an analysis carried out at the beginning of the year showed that about 19.4 million Nigerians faced food insecurity in 21 states and the Federal Capital Territory (FCT). He said, “So as food insecurity worsens, so does the risk of malnutrition. It is estimated that about two million children suffer from severe acute malnutrition. “We need to harness the power of solidarity and collective action to undertake sustainable production and consumption of healthy diet, address the problem of post-harvest losses, and increase efficiency in the use of natural resources…” Similarly, Oxfam Programme Manager, Just Economies, Mr. William Mafwalal, at the briefing noted that over the past decade food crisis had been increasing across the West African subregion including in Nigeria, Burkina Faso, Niger, Chad, and Mali. He said between 2015 and 2022, the number of people in need of emergency food assistance nearly quadrupled, from 7 million to 27 million. He said, “The solution to tackling hunger is not to increase production, which is proposed by many supporters of industrial agriculture, no matter the environmental costs. It is to ensure more equal distribution and to address demand-side factors which increase food prices and

drive farmland use for purposes other than food production, such as unsustainable biofuel production. “The answer to tackling hunger does not lie in global value chains. Instead, the focus should be on supporting local food production. As the war in Ukraine has shown, overreliance on global value chains has created massive vulnerabilities, as a high number of low-income countries rely on just a handful of large agricultural producer countries to feed their people.”

Expect More River Flooding, NiMet Warns North Central, South-eastern States

In the meantime, the Nigerian Meteorological Agency (NiMet) yesterday warned that states in the north central and south-eastern parts of Nigeria should brace up for more flooding. The Director General of NiMet, Prof. Mansur Bako Matazu stated this on the sidelines of the ongoing Hydro-meteorological status and outlook system (HydroSOS) in Abuja. This was just as the Nigerian Hydrological Service Agency (NIHSA) revealed that the Ladgo dam in Cameroun would continue to spill till next month. The NiMet DG, while speaking on the current flood impact across the country, explained that though flooding as a result of rainfall may have reached its peak, noted that as a result of the opening of dams and other water holding facilities could still affect states in north central and the south-east. “You remember, we issued the forecast in February and we followed up with the monthly updates that we are going to have above normal rainfall in most part of the country. "So in terms of the rainfall-induced floods, we have seen the peak, but remember we told you that this rainwater gets collected into the reservoirs and dams, and whenever they are filled, it gets filled. “So on September 13, the Ladgo dam was released. Other dams were also released. So what we are witnessing now is riverine flooding. And from the information we are getting, we are going to see more flood. "And now the rains are concentrating in the north-central and the southern states. So that will be a combination of short duration, high intensity rain, with riverine flooding. “We are going to see more of these floods in the north central states as we have seen in Kogi and also south eastern and south-western states as we are beginning to see in Anambra and some of parts of south-west." Continues online

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

Congratulations

SENATOR DR. SABI ALIYU ABDULLAHI

SENATOR MOHAMMED SANI MUSA

T he Chairman, Governing Council of the Hydroelectric Power Producing Areas Development Commission (HYPPADEC) Hon. Barr. Joseph Terfa Ityav, on behalf of the Council, Management and staff join other well-wishers in congratulating you Senator dr. Sabi aliyu Abdullahi and Senator Mohammed Sani Musa on your conferment with the National Honours Award by the President, Commander in-Chief of the Armed Forces of the Federal Republic of Nigeria, President Muhammadu Buhari GCFR. The award is a proof of your unwavering commitment to Development, Unity, Peace and Prosperity in our dear country, Nigeria. It is my hope that the award, will inspire you to do more in making Nigeria greater again.

Congratulations! Signed

Abubakar Sadiq Yelwa, FCNA, FNIIS (Katukan Yauri) Managing Director, HYPPADEC

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY OCTOBER 12, 2022

MIDWEEKPOLITICS

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com

08033025611 SMS ONLY

The Growing Popularity of Peter Obi Udora Orizu writes that the nationwide million man march for Labour Party’s Presidential Candidate, Peter Obi, has shown that he’s loved by the youth and represents hope Nigerians yearn for

he growing popularity of the presidential candidate of the Labour Party (LP), Peter Obi, among the youth is gathering momentum as the youth in a show of solidarity are holding rallies nationwide to show their support for him. The general election in Nigeria is scheduled to hold in February 2023, and campaigns as stipulated in Independent National Electoral Commission (INEC) timetable have already commenced. Since the return of democracy in May, 1999, the presidential election has always been a two horse race between the PDP and APC. However the upcoming election appears to have a different scenario with the entrance of Labour Party’s Peter Obi. Obi who served as two-time Governor of Anambra State between 2006 and 2014 under the platform of the All Progressive Grand Alliance, was the vice-presidential candidate to Atiku Abubakar in 2019. After loosing to President Muhammadu Buhari, Obi who’s desperate to make Nigeria work again, in March, 2022 declared interest to run for presidency in 2023 under the platform of PDP, a position his former principal Abubakar is also jostling for. Days before the PDP presidential primaries held on May 28, 2022, Obi defected to Labour Party, and became the presidential candidate of the Party. Since he became LP’s flagbearer for the 2023 presidential poll, Obi has not only popularised the party, the support for him has grown tremendously with many youth pledging to work for his victory. While some are wondering if Obi can really unseat the two-party consensus that has defined Nigerian politics since 1999, it can be said that much of the growing support for Obi among a cross section of disaffected young people is born

Obi

out of understandable frustration with the system, specifically the fact that the presidential candidates of the two main political parties, All Progressives Congress (APC) and Peoples Democratic Party (PDP) are perceived as symbolizing the business as usual brand of politics that has led the country to the brink of economic collapse. The economic hardship is biting hard, and people are blaming the two major parties for this situation, given that they have ruled the country at various times without improving the standard of living of people, hence the possibility of a third force phenomenon gives many Nigerians hope. It came as no surprise when recently, the Bloomberg opinion poll favoured Obi, to win the

2023 presidential election. This is following the ANAP/NOI and We2geda poll result released recently which put Obi at 21% and 51% respectively ahead of other competitors. The results of the survey conducted for Bloomberg News by Premise Data Corp which were published as campaign officially kicked off, showed Obi scoring 72% among those who have decided to vote. Out of those surveyed, 92% of participants said they had decided how to vote and 72% named Obi as their first choice and of those who are still unsure, 45% said the 61-year-old former governor of Anambra State is their preferred candidate. The data company which has its headquarters in San Francisco, in the United States, surveyed 3,973 Nigerians from September 5th to 20th and respondents to the app-based poll were selected from quotas developed by age, gender and location across the country’s six geopolitical zones. Results were then weighted against the original quotas to ensure national representation. The candidate of APC, Bola Tinubu and that of the PDP, Atiku Abubakar, garnered 16% of decided voters and 23% of those yet to make up their minds and 9% and 17% respectively. Three-quarters of respondents said Nigeria is headed in the wrong direction and a combined 88% listed the economy, jobs, corruption, and security as the most important issues facing their communities. More than 65% named Obi as the candidate best able to improve the economy, tackle corruption and reduce insecurity, while Tinubu ranked second on each measure, ahead of Atiku. In his 62nd independence message to Nigerians, Obi said many Nigerians were already tired and frustrated with the leadership failure that has continued to burden the country for

many years, saying the coming election presents a ray of hope to the people for a new Nigeria if things would be done correctly. He regretted that at 62, Nigeria has nothing to celebrate but continues to struggle under the weight of corruption, bad governance, insecurity, a worsening economy, abuse of office and all manner of ills. While not everyone of this vibrant segment support Peter Obi, a major percentage of the youth with the tag “OBIdients” are in vociferous support of the Labour Party’s presidential candidate, as evidenced by a rise in his popularity on social media, especially Twitter and the growing rallies. In the last three weeks, Obi-dients have held marches for Obi in the northern, southern and middle belt part of the country. Some of the states in which they have held marches include Lagos, Plateau, Bauchi, Delta, Akwa-Ibom, Edo and Federal Capital Territory. Also obi-dients in diaspora, especially in London, United Kingdom have held marches in a show of solidarity to him. Each of the marches witnessed mammoth crowd with placards chanting solidarity songs. During his Jos visit, which was at the instance of the Middle Belt Forum, Obi hinted of his plan to honour the invitation of the Middle Belt Forum who organised the rally in solidarity with his ambition. He promised to end insecurity, poverty and unemployment in Nigeria if elected in 2023. The LP candidate, who also promised to address hunger, unemployment and corruption, said he would promote quality of education at all levels and improve power supply. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Daunting Expectations as Ekiti Awaits Oyebanji’s Inauguration Victor Ogunje writes about the high expectations of Ekiti people as Biodun Oyebanji mounts the governorship saddle on October 16

he joy of the Ekiti Governor -Elect, Biodun Oyebanji, knew no bounds when he eventually emerged victorious in the June 18, 2022 governorship poll in Ekiti State. It was overwhelming owing to stiff opposition that confronted his candidature by seven other opponents within the All Progressives Congress (APC) after the January 26, 2022 primary. In actual fact, he had every reason to be overjoyed because he defeated a more experienced former Governor Segun Oni and candidate of the Social Democratic Party (SDP) in the keenly contested and highly pulsating election. Most astounding was that, not even the robustly strong grassroots connection and ebullient personality of former governor Ayodele Fayose could stop his emergence. His protege fielded by the People’s Democratic Party (PDP) for that election, Bisi Kolawole, was trounced and came distant third. Oni’s electrifying popularity and Fayose’s mystical stature in Ekiti politics were two prime factors that sent jitters round the spines of the All Progressives Congress in that election. The party approached that election with caution and trepidation, if the truth was to be told and only got assuaged when the results started trickling in on election day. The terrific blows Fayose dented against Niyi Adebayo in 2003 and the manner with which he defeated Governor Kayode Fayemi in all the 16 local governments in 2014, even as a sitting governor makes the fear of Fayose becomes the beginning of wisdom for the progressive party in Ekiti. He was being perceived as more of a nemesis for the APC. For Oyebanji, his residence located at GRA in Ado Ekiti and his palatial mansion in his Ikogosi Ekiti countryhome have become a Mecca of sort since his emergence. The aura

Oyebanji

around him had since changed and had wielded so much influence among the politicians, traditional rulers, youth groups and all the strata of the society, because of the power governors wield. But the honeymoon is gradually thinning out. He will finally take the oath of office on October 16, 2022 and the reality will stare him in the face. Even his would-be predecessor, Dr. Kayode Fayemi, had attested to the fact that governing an economically-challenged state like Ekiti, is rigorous, puzzling and burdensome. As of now, Ekiti receives an average of N3 billion monthly allocation from the federation accounts, with its Internally Generated Revenue oscillating between N750 million and N800 monthly. These Statistics came to reality with monthly payment of N2.5billion wage bill of workers and political appointees, as well

as N100 million monthly vote for payment of gratuity of retirees. With these, the state enjoys less than N500 million excess fund monthly to execute capital projects and perform other essential social services. This makes Ekiti governorship seat scotching and full of heat, but the scramble for it became intense because of the perks of office and domineering power the occupant of the coveted seat always enjoys. However, Oyebanji seems the most experienced governor ever elected in Ekiti. At various times, he had been appointed as Special Assistant, Special Adviser, Chief of Staff, Commissioner and Secretary to the State Government. These experiences he had garnered over time may help his cause. Also, having worked in the banking industry for over a decade before foraying into politics may bolster his astute management of the state’s lean resources. In the same vein, his stint as a lecturer at Ekiti State University before taking up banking job may boost his knowledge of education sector, rated as the most thriving industry in Ekiti. During his visit to the Ewi of Ado Ekiti, Oba Rufus Adeyemo Adejugbe, after being pronounced winner, Oyebanji got an inkling from the monarch that leading Ekiti won’t be a tea party for him. The monarch urged him to get prepared for the onerous task ahead. Also Oyebanji’s benefactor, Governor Fayemi, always raised similar issue at various fora that Oyebanji should buckle up and get ready to withstand the heat that will confront him. Despite possessing experiences and good credentials, the reality remains that Ekiti is owing over N57 billion arrears of pension, salary and gratuity. That of gratuity was the most excruciating as it stands at a sum of N37.6 billion as at December 31, 2021. People are really waiting patiently to see the magic wand that will be deployed to surmount

this posing uphill challenge. The most comfounding issue to governance in Ekiti now is that, the governors are being cautious to borrow either through the bank or capital market. Doing so will spark serious and fierce controversy with the opposition and stakeholders. It will also add to the already worrisome level of indebtedness on ground. Apart from the civil servants and pensioners, several groups; farmers, artisans, traders, students, contractors, traditional rulers, commercial motorcyclists and drivers inclusive, are also harping on the fact that their expected dividends of democracy must be given to them by the incoming administration. The Chairman, All Farmers Association of Nigeria, Ekiti chapter, Mr. Adebola Alagbada, lamented how his members were being killed, kidnapped and have their crops destroyed by marauding herdsmen. He tasked Oyebanji on the imperative of promoting security of lives and property for his members to return to their farms. Alagbada said Oyebanji’s government should resuscitate all the moribund farm settlements in Ekiti to accommodate young and old farmers and motivate them to go into farming. The AFAN leader said; “The coming government must as a matter of compulsion work on how to empower our farmers. The government must sell farm implements to our members at subsidised rates. “We also need Microcredit and soft loan to embark on large scale farming and without the support of government, we can’t achieve these. Time of subsistent farming has gone. Commercial farming is now the best and government must work hard to encourage our people”. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY, OCTOBER 12, 2022

FEATURES

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

Preserving Culture and Impacting Humanity in Nigeria through Paramount Africa Bada Akintunde-Johnson

s we celebrate another year of national independence, it is imperative that we take stock of what is, what has been and, perhaps, what can be — particularly as it concerns our most defining and treasured asset, culture. Shocking? Culture in its undiluted form is the element that defines us as a people, influences how we interact, absorb new ideas, innovate and even entertain. Basically, it is the grundnorm from which we draw as we innovate and evolve. Hence, preserving it is the highest duty we can take on, one we have not always revered. Historically, we have been a people who accommodate other cultures, at the risk of losing our own. There was a time when being African, being Nigerian was believed not to be a thing of prestige or pride; but rather an identity that had to be hidden and discarded— perhaps because we had been taught to do so. All of that began to change, with cultural champions who refused to whisper “Nigeria” at the expense of feeling inferior when asked to identify their country of origin. These phenomenal people paved the way, I daresay, for the revolutionary work Paramount Africa commenced in the country. In 2005, we, at Paramount Africa conceived the vision of reimagining Africa. Reimagining it as a land bursting with incredible talent, exciting innovations and proud culture— not because it had not always been so, but because we had somehow learned to see it as deficient and second-class. We embarked on the ambitious journey of providing entertainment and edutainment platforms for Africans to control their narrative, to tell their stories how they wanted them told. We were aware that he who controls the media controls the narrative. Hence, without giving the actors an opportunity to tell their own stories, there was the impending danger of having their stories re-written, altered and perhaps mislaid. So, we started out with the most unifying pillar of culture— music. In 2005, we launched our flagship channel, MTV Base, in the African continent, Nigeria to be precise, with the aim to showcase Africa’s vibrant talent. With this channel, we began to push African talents into the limelight. Innocent ‘Tuface’ Idibia’s African Queen was our debut choice, and within one hour of it being aired, the music video garnered over 1.3 million views. From there, we continued the groundwork for what is now one of Africa’s biggest entertainment markets— starting with necessary upgrades to one of music's most powerful marketing tools, videos. A cursory glance at the quality of videos being produced at the time, in comparison to what was being produced by leading international acts, assured us that changes had to be made. If African music was to become mainstream, we needed to elevate the quality of videos to enable African creatives make the stories woven into music videos more captivating. Our discovery also revealed the impasse we were at— Africa, at the time, lacked the local capacity needed to elevate African-produced music videos to global standards. To solve this problem, we began training and upskilling videographers to improve the quality of their video and production quality. In 2007, we partnered with Shell on the “African Video Project” to improve the quality of African music video production. Through the project, MTV Base provided indigenous acts access to the expertise of international talents, including U.K Music Director Nick Quested and sensational singer Amerie. We also availed African artistes an opportunity to have their videos shot, edited, and produced by an internationally-acclaimed music video crew. With these efforts, MTV Base helped indigenous creatives build the capacity to produce phenomenal videos locally. More than seventeen years after, because of these investments, it is normal to see African creatives clinching Awards like Video Director of the Year. But not before we kickstarted the tradition of celebrating Africa’s incredible talents. In 2008, we initiated the MTV Africa Music Awards (MAMAs) — the first international

Akintunde-Johnson awards platform to celebrate the brilliance of African music acts. This platform has been a beacon of some sort, further drawing attention to indigenous artistes. Since its inception, the MAMAs has showcased and celebrated many artistes who have either been nominated for or have won various highly-acclaimed international awards, including Burna Boy, Wizkid, Tiwa Savage, Yemi Alade, Davido and Tuface Idibia. Unsurprisingly, more than a decade after we made the decision to showcase, invest in and celebrate African talents, sounds conceived on Africa’s soil emerged. Today, the world consumes the eclectic sounds of Afrobeat, Amapiano, and Afro-soul — sounds that have unarguably taken the world by storm and have fast become mainstream. Proof of what we believed all along that African talents had the potential for the global stage and that if Africans could embrace their identity and culture without reservation, they would unlock unbelievable levels of creativity. Our mission to reimagine Africa did not stop with the music industry but rippled into other entertainment industry segments. Leveraging what we had begun with MTV Base, we expanded the channel’s offering to include drama. Over the years, we have launched several edutainment and entertain-

ment series that cut across different genres — the most popular of which is our MTV Shuga series. We launched MTV Shuga to have difficult conversations, conversations that in the past were treated as taboo topics that had to be shied away from or held in whispers. Through the initial series of MTV Shuga, which was launched in 2009, and the subsequent spinoffs, including MTV Shuga Down South, MTV Shuga Naija, and MTV Shuga Alone Together, we tailored episodes to address a wide range of issues — HIV prevention, HIV testing, gender-based violence, gender equity, mental health, and modern contraception amongst other things. Surveys evaluating the impact of the edutainment series revealed that it has caused significant behavioural change among viewers. One survey by the London School of Medicine and Tropical Hygiene (LSHTM) showed that exposure to the series led to an increase in awareness of HIV self-testing (60%), PrEP (Pre-Exposure Prophylaxis) (52%), and HIV status (71%). Exposure to the MTV Shuga Alone Together episodes — which focused on debunking COVID-19 myths, highlighting lockdown coping

Culture in its undiluted form is the element that defines us as a people, influences how we interact, absorb new ideas, innovate and even entertain. Basically, it is the grundnorm from which we draw as we innovate and evolve. Hence, preserving it is the highest duty we can take on, one we have not always revered

mechanisms and methods of prevention — also had a massive impact as 90% of viewers reported learning new facts, while 85% adopted new behaviours. Beyond the impact it has had in causing behavioural change across the continent, MTV Shuga has been the springboard that launched the careers of some of Nigeria’s most sensational actors. Since 2009 when the series was launched, the series has featured many who have now become household names, including Jemima Osunde, Rahama Sadau, Timini Egbuson, Amal Umar, Tomiwa Tegbe, and Abayomi Alvin. Going beyond edutainment, we have showcased some of the best contents from the continent through shows such as Inside Life with Erica, Behind the Story, Celeb Living, Slayed or Shade, Fit Fam, The Bigger Friday Show and many more. These shows have portrayed Africans the way they are — vibrant, ambitious and dogged. It has been a refreshing departure from the single narrative, plastered on media materials of many international NGOs, that was once mainstream. Expanding our vision to encompass yet another set of creatives whose strengths did not particularly lie in music or drama, we introduced the MTV Base VJ Search. Initiated in 2012 to give creatives who enjoy playing host and have a way with crowds, the search created a platform capable of catapulting talents to the global stage. Today, past winners of the MTV Base VJ Search — Ehizojia ‘Ehiz’ Okoeguale, Stephanie Coker and Ada ‘Folu Storms’ Ogunkeye— have not only had the opportunity to host various MTV Base and BET shows and programmes with incredible reach but have, on many occasions, graced international scenes. In addition to this outlet, our VJs form the backbone of the Paramount Africa pan-African Culture Squad. Through the culture squad, we provided our VJs, and subsequently other additions to the squad, a bigger stage to showcase their uniqueness, address global issues they are passionate about, set trends, influence cultural shifts and lead conversations through a VJ-centred content portfolio. Currently, the Culture Squad team constitutes Folu Storms and Ilo. With the ground we have covered and the achievements recorded, we have paused at various points to reflect and recalibrate — to prepare for the next phase. This has led to outstanding discoveries. Quite recently, we carried out the Reflecting Me: Global Representation on Screen survey to evaluate the real-time perception of on-screen and off-screen representation in select countries, with Nigeria (one of Africa’s biggest social hubs) being one of the critical focus points. Drawing insights gathered from respondents situated in the North-Central, North-East, North-West, South-East, SouthSouth and South-West regions of the country; we reaffirmed the ethos driving all we do at Paramount Africa — having African stories told by the actors of the stories. Our study revealed that 94 percent of Nigerians consider an accurate depiction of the country’s different cultural groups and identities essential. 70 percent felt on-screen representation of certain groups needed to be improved, and 47 percent felt they were not represented enough. There are other statistics, but they point to one exciting revelation, we as a people now consider it normal to see people like ourselves on the world stage. We consider it necessary for our culture to be displayed proudly for the world to see and learn from. As we press forward, we are elated to keep representing and reimagining Africa through our various channels, shows and awards. We commit to continue showcasing and celebrating black culture and excellence through BET Africa and to continue providing platforms for African talents to shine through MTV Base. Our unparalleled devotion towards re-defining the African entertainment space is second to none and has transcended beyond being a conduit pipe that brings creatives to the limelight, but has become an immersive world where creatives find full expression, thereby no longer being a means to an end, but an end in itself. t"LJOUVOEF +PIOTPO JT $PVOUSZ .BOBHFS GPS 1BSBNPVOU "GSJDB

22 T H I S D AY WEDNESDAY OCTOBER 12, 2022 TR

UT H

& RE A S O

WAITING FOR INEFFABLE BLOC VOTE IN 2023

See page 23

LIMITS OF SOCIAL MEDIA, TELECOM ADVERT REGULATIONS SONNY ARAGBAAKPORE argues that pursuing online advert exposure may be a wild goose chase

See page 23 EDITORIAL

BURKINA FASO’S COUP ADDICTION

See page 24

opinion@thisdaylive.com

www.thisdaylive.com

Nigeria needs bloc votes of the youths, the poor and others to enthrone responsible leadership, writes VICTOR C. ARIOLE

Wednesday October 12, 2022 Vol 27. No 10046

INEC’s failure to organise parliamentary elections to fill some vacancies is curious, argues CHIDI ANSELM ODINKALU

AHEAD OF #NIGERIADECIDES2023, INEC MUST ADDRESS ITS CREDIBILITY DEFICIT Seven days after he emerged on 26 March 2022 as the Chair of the ruling All Progressives Congress (APC), Abdullahi Adamu resigned from the Senate where he had since 2011 represented the people of Nasarawa West Senatorial Zone. Senate President, Ahmed Lawan, read his letter on WKH ÁRRU RI WKH 6HQDWH RQ $SULO Senator Adamu’s resignation took HͿHFW GD\V EHIRUH WKH GDWH RI WKH presidential election. Section 76(2) of Nigeria’s 1999 Constitution empowers the Independent National Electoral Commission (INEC) WR RUJDQL]H D E\ HOHFWLRQ WR ÀOO VXFK D YDFDQF\ ZLWKLQ WR GD\V RI WKH GDWH RI the vacancy. Yet, nearly 190 days after the resignation of Senator Adamu, the INEC KDV QRW FRQVLGHUHG LW ÀW WR RUJDQL]H DQ election for his replacement or to explain its failure or refusal to comply with this important constitutional duty. The failure or refusal of INEC to XQGHUWDNH WKH SURFHVV UHTXLUHG WR ÀOO WKH vacancy created by Senator Adamu’s resignation denies the people of Nasarawa West their entitlement to be represented in the Senate of the National Assembly. They are not the only people in this position. At the same APC Convention in March 2022, another Senator, Abubakar Kyari, representing Borno North in North-East Nigeria, was elected Senator Adamu’s deputy. Like Adamu, Kyari by a separate communication addressed to the Senate President also resigned his seat with HͿHFW IURP $SULO /LNH $GDPX·V people in Nasarawa West, Kyari’s people of Borno North have also been without representation in the National Assembly VLQFH WKH ÀUVW GD\ RI WKH VHFRQG TXDUWHU RI 2022. One month before the party chose Senators Adamu and Kyari to lead the APC, Hassan Muhammadu Nasiha Gusau, representing Zamfara Central also in the 6HQDWH ZDV VZRUQ LQ RQ )HEUXDU\ as the state deputy governor. His seat in the Senate therefore fell vacant under section 68(1)(d) of the 1999 Constitution, ZKLFK VSHFLÀFDOO\ UHTXLUHV D PHPEHU RI the National Assembly to “vacate his seat in the House of which he is a member…. if he becomes President, Vice-President, Governor, Deputy Governor.” The vacancy in this case of the Zamfara Central Senatorial Zone occurred exactly one year before the JHQHUDO HOHFWLRQV 6LQFH WKHQ WKH\ KDYH been without representation in the Senate. Twenty two days after Senators Adamu and Kyari resigned their seats in the 6HQDWH RQ $SULO 1VH (NSHQ\RQJ UHSUHVHQWLQJ WKH 2URQ )HGHUDO &RQVWLWXHQF\ in the House of Representatives, died. On 1 July, 2022 Jude Ise-Idehen

representing the people of Egor/Ikpoba2NKD )HGHUDO &RQVWLWXHQF\ LQ (GR 6WDWH similarly died suddenly. Like the people of Borno North, Nasarawa West, and Zamfara Central in WKH 6HQDWH WKH SHRSOH RI 2URQ )HGHUDO Constituency in Cross-River State, and (JRU ,NSRED 2NKD )HGHUDO &RQVWLWXHQF\ in Edo State, both in the Niger Delta have been without representation in the House of Representatives since April and July respectively when their representatives died. Mike Ozekhome, himself a Senior Advocate of Nigeria (SAN) from Edo State, describes the failure or refusal of the INEC WR WDNH SURPSW VWHSV WR ÀOO WKHVH VHDWV DV “inexcusable, egregious, and politically unwise.” The Punch Newspaper reported that INEC spokespersons chose not to respond to inquiries addressed to them on this issue “despite initial promise to speak on the issue.” In the absence of any explanation from the INEC, we are left to speculate as to why it has chosen to behave as if the constitution is expendable. To excuse INEC’s refusal, Idayat Hassan, Executive Director of the Centre for Democracy and Development (CDD), a non-governmental think-tank, argues that ´QR GRXEW WKH IRUWKFRPLQJ HOHFWLRQV have preoccupied the attention of INEC.” But on 18 June, 2022, nearly four months after the vacancy fell open for the Zamfara Central senatorial seat, INEC organized DQ HOHFWLRQ IRU WKH KLJK R΀FH RI *RYHUQRU of Ekiti State. One month later, on 16 July, more than two weeks after the death of Jude Ise-Idehen in Edo state, it also organized WKH HOHFWLRQ LQWR WKH R΀FH RI JRYHUQRU RI Osun State. Both of these were state-wide contests, in both cases, much more fraught than for seats into the senate or the house of representatives. The attempt by the CDD to manufacture an excuse for INEC’s retrenchment of the constitution is evidently without support in either facts or evidence. It is, indeed,

disconcerting that civil society actors whose vocation should be to hold INEC to account have chosen to put themselves in the position of self-appointed surrogates of the electoral umpire, inventing alibis for it when it decides to disregard the constitution. This clearly calls into question their capacity or readiness to function as independent or credible monitors of elections organized by the same body. Another explanation for the failure or refusal of the INEC to organize the elections into these vacant seats as required by the constitution could be that it is reluctant for such contests to be used as barometers to measure the relative strengths of the leading SDUWLHV DKHDG RI WKH HOHFWLRQV 7KLV would be unfortunate if it were to be the case because it could encourage a suspicion that the Commission, which is supposedly independent, is in fact sympathetic to one party or another. This suspicion would rise to a near certainty if the explanation were WR EH RͿHUHG WKDW WKH SDUWLVDQ OHDGHUVKLSV of the Senate or the House have failed to formally communicate the vacancies to the INEC. The arguments for complying with the FRQVWLWXWLRQ KHUH DUH RYHUZKHOPLQJ )LUVW it is intrinsically the lawful and rightful thing to do. Second, it is a mandatory constitutional requirement on which INEC actually does not have a discretion. Third, LW VHUYHV D EHQHÀFLDO IXQFWLRQ RI DFFRUGLQJ WKH DͿHFWHG FRQVWLWXHQFLHV DͿHFWHG representation in these essential chambers of parliament in equality to all other parts of Nigeria. There is also an instrumental argument: in failing to organize contests into these seats, the INEC passed up an opportunity to have evaluated the Bi-Modal Voter Accreditation System (BVAS) - its advertised magic VROXWLRQ WR DOO WKH G\VIXQFWLRQV D΁LFWLQJ elections in Nigeria – in precisely the kinds of locations that would prove its viability, such as in Borno North and in Zamfara Central. As such, the INEC voluntarily GHQLHV LWVHOI XVHIXO ÀHOG H[SHULHQFH DQG intelligence which could immensely advance its preparations and readiness for WKH HOHFWLRQV The course chosen by INEC is therefore not just unlawful, it is also equally counterintuitive and irrational. It can hardly be argued that a vacancy that occurred in )HEUXDU\ ZDV WRR FORVH WR WKH election due one year thereafter. The INEC struggles for credibility when it is sought on its behalf to equate that vacancy with DQRWKHU RFFXUULQJ QHDUO\ ÀYH PRQWKV ODWHU in July. A lawyer and a teacher, Odinkalu can be reached at chidi.odinkalu@tufts.edu

T H I S D AY

323

WEDNESDAY OCTOBER 12, 2022

Nigeria needs bloc votes of the youths, the poor and others to enthrone responsible leadership, writes VICTOR C. ARIOLE

WAITING FOR INEFFABLE BLOC VOTE IN 2023 “We are all separated from one another and from the world by the fact that we inhabit a body that is distinct…But there is also the contrary experience of the world revealed by consciousness…it appears to melt human souls, like waters UHDFKLQJ ÀQDOO\ WKH RSHQ RFHDQ IURP WKHLU distinct ways, and they become one with WKH LQHͿDEOH WKH RFHDQµ $ 7RXU RI 7KH Calculus) 7KH RSSRVLWH RI ¶WKH LQHͿDEOH· ² WKH FRQYHUJHQFH RI VRXOV IRU WKH XOWLPDWH EHVW ² is the ‘bloc vote of beasts’, either in the form of coups d’etat happening in Guinea, Mali, Burkina Faso or the rigging of elections by politicians. ‘Waiting for Bloc Vote of the Beasts’ is how an African Francophone, Ahmadou Kourouma coined the title of his

novel just to prove that elections in Africa are decided by what a group of people he prefers to see as beasts approve of. They could be a minority whose interest is not necessarily what the populace want. With what happened in Kenya that ushered-in a Nigerian brother-in-law, William Ruto, as the President, it is evident that the beasts are facing great challenge. And Nigeria with its current tripod SDUWLHV ² $3& 3'3 DQG /DERXU WKHUH seems to be a possibility of such outcome come 2023. However, as expressed in the cited quote above, Nigeria, in its present and soul desecrated moments, needs bloc votes of its youths, its poor and its authentic citizens that could translate to an expected INEFFABLE vote, congregation and convergence of multiple layers of its disenchanted populace, as melting souls towards enthroning crops of leadership that could change the wrong direction RI WKH 6WDWH IRU WKH LQHͿDEOH ² UHDOPV RI prosperity and equitable justice for all. The resources are there, the human capital is there waiting for the right direction for getting everyone having their hands on the plough for a greater harvest. Like MKO Abiola once said, only bad managers could claim that their workforce is redundant. Hence only bad political party or wrong crops of leaders could claim that Nigerians are not productive and reduce them to a level of being the most poverty ridden people in the world. How do you propose a budget below 10% of what the world HVWLPDWHV WR EH WKH *'3 YDOXH RI 1LJHULD hence a sign that the governance process in Nigeria is lacking in competence, LPDJLQDWLRQ DQG FUHDWLYLW\ )RU D *'3 RI $400billion, anything less than $40billion shows a weak performance capacity. Understanding the basis of

underutilisation of both human and material resources of Nigeria should be the concern of the three parties seeking to rule Nigeria come 2023. Justice, equity and adequate reward system is needed to prod 1LJHULDQV WR ZRUN 'RZQ ZLWK PRQNH\ dey work baboon dey chop. APC, as the party in power for almost eight years, is clearly a party for selective and negatively discriminating welfare dispenser, an ATM for the powerful, compounded by its borrowing spree as if Nigerians unborn must come to live in slums. Their claim is that they have done well in building Nigeria’s infrastructure. And great infrastructure for living country, not the one expected to die, are carried out by the trust inspired leaders and great creditors who are ever ready to spend PRQH\ IRU WKH GHIHUUHG EHQHÀWV LQWHUHVWV that is accruable to their retirees projected for over 30 years period. Investors are all over looking for good terrain to invest their money. For example 1970 was a year that saw the beginning of the transformation of Yamoussoukro from the status of village to that of new Ivoirien capital and investors quickly bought into it trusting the then President Houphouet Boigny and within 10 years it happened. Certainly payment was not based on annual budgeting process. Investors are only interested in quick money making in Nigeria as they exploit and explore and damage Nigeria’s environment, plucking oil and metals as if the human beings there are useless. How one could wish that such crave for oil and metals had translated to better wellbeing for Nigerians for over 60 years now. Instead more insult is added to the intelligence of Nigerians as NNPC wakes XS WR VWDUW FODLPLQJ LW LV QRZ PDNLQJ SURÀW as if for 60 years it has been sleeping. So, it has been a white elephant project all along channelling Nigerian wealth to its Cash Call Ventures’ associates. As far as my limit of costing goes, NNPC monthly remittance could just be seen as part of cost component of their resource pilfering and SURÁLJDF\ RU DV ¶KXPDQ DQG HQYLURQPHQWDO cushioning cost’ in the shade of ‘let us just pity Nigeria’. No amount of payment can restore the environmental and human damage occasioned by non- respect of exploration ethics as observed in saner climes. And, that is all feudalistic minded APC rely on in the governance of Nigeria with no respect for Nigerians yet unborn and no human development package for the youths and tomorrow Nigerians. So, LV 3'3 WKDW KDG RQFH UXOHG 1LJHULD DQG failed going to prove repentant and show greatness in its avowed liberal economic disposition. 3'3 EHOLHYHV LQ SULYDWLVDWLRQ IRU LWV approach to governance as if it works in Africa that has great number of its workforce as youths between the ages of 15 and 40. Once in governance, Nigerians KDG VHHQ KRZ 3'3 VROG 1LJHULDQ DVVHWV and uneconomically liquidated Nigeria’s debt with no further interest in attracting trust from international investors for greater infrastructure pool. Ariole is a Professor of French and Francophone Studies, University of Lagos

SONNY ARAGBA-AKPORE argues that pursuing online advert exposure may be a wild goose chase

LIMITS OF SOCIAL MEDIA, TELECOM ADVERT REGULATIONS In their quest to boost revenue collection for the government, the Advertising Regulations Council of Nigeria (ARCON) and telecommunications regulator, the Nigerian Communications Commission (NCC) recently made very important moves that are likely to jolt service providers and consumers. The NCC held a public inquiry and engaged stakeholders on its proposed draft guidelines for promotional advertising by telecommunications service providers. Earlier in August, ARCON announced a ban on the use of foreign models for every

advertising material for the Nigerian public. This it said was in line with the federal government policy to encourage local WDOHQWV FUHDWLRQ 7KLV QHZ EDQ WRRN HͿHFW from October 1, 2022. While advertising practitioners were still trying to grapple with the new reality, ARCON dragged Meta Corporations, owners of Facebook, Instagram and WhatsApp to court for violating the extant rules for advertising exposure in Nigeria. ARCON is asking for N30billion for Meta’s alleged illegal operations/advert exposure without authorization. It said in a statement: “ARCON reiterates that it would not permit unethical and irresponsible advertising on the Nigeria’s advertising space,” adding however that the Council is not regulating the online media space. “Rather, it’s focus is on advertising and marketing communications on the online platforms in line with its establishment Act”. Subscribers as well as those who are simply onlookers of these social media platforms may have been jolted by this wake-up call by ARCON especially in light of other advertising regulators in Nigeria and wonder who is really in charge of advertising regulations and what modalities are in place to ensure compliance. ARCON stated that this is a violation of the extant advertising Law in Nigeria, adding that Meta Platforms Incorporated’s continued exposure of unvetted adverts had also led to loss of revenue to the federal government. How has this happened and how was vetting supposed to be carried out? ARCON has left many questions unanswered but does not think so. It is therefore seeking N30bn in sanction for the violation of the advertising laws and for loss of revenue as a result of Meta Incorporated’s continued exposure of unapproved adverts on its platforms. But while we may not question ARCON’s right to enforce what it considers to be its

responsibility part of which it inherited from its precursor the Advertising Practitioners Council of Nigeria (APCON) among others: “•Securing in accordance with the provisions of this Act, the establishment and maintenance of a register of persons entitled to practice advertising in Nigeria and determining acceptable standards of all advertisements exposed in mass media in Nigeria, •Regulating and controlling the practice of advertising in all its aspects DQG UDPLÀFDWLRQV •Performing the other functions conferred on the Council by this Act.” Even when oversight is established that there is the power for it but there are no clear guidelines on how social media should be regulated and even corporate organizations may not even know when and where to draw the lines? $5&21 VD\V LW PDGH VSLULWHG HͿRUWV to dialogue with representatives of Meta platforms Corporations through AT3 Resources Limited in Nigeria without any response and so the regulatory body for Nigeria’s advertising ecosystem, is seeking a declaration, among others, that the continued publication and exposure of various advertisements directed at the Nigerian market through Facebook and Instagram platforms by Meta Platforms Incorporated without ensuring same is vetted and approved before exposure is illegal, unlawful and a violation of the extant advertising law in Nigeria. ARCON stated that Meta Platforms Incorporated’s continued exposure of unvetted adverts had also led to loss of revenue to the federal government. So the N30bn in sanctions for the violation of the advertising laws and for loss of revenue as a result of Meta Incorporated’s continued exposure of unapproved adverts on its platforms will serve as deterrent to others. ARCON says “it would not permit unethical and irresponsible advertising on Nigeria’s advertising space.” ARCON R΀FLDOV WKLQN WKDW WKH GHFLVLRQ WR LQLWLDWH a legal action became necessary after several attempts to bring the company to the negotiation table proved abortive. They claimed they wrote to some online platform owners, requesting for a meeting to agree on the regulatory framework and protocol for advertising on online platforms. “Meta neither acknowledged nor attended the meeting. After a followup call, we got a promise that they will revert formally which never came.” This is where ARCON thinks it could draw the line but will this line of action address the situation especially in a society where laws are made, judgement given but hardly enforced? Couldn’t ARCON have waited a little while and bring everyone to a negotiation table? Also in August, ARCON came out to ban the use of foreign models as voice over for any advertising exposure in the Nigerian space. Aragba-Akpore is a member of THISDAY Editorial Board

24 4

T H I S D AY

WEDNESDAY OCTOBER 12, 2022

EDITORIAL

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

BURKINA FASO’S COUP ADDICTION The new wave of coups in the West African sub-region is troubling

have made political intervention attractive to politicised n what has become a familiar spectacle, a group VROGLHUV 1RWDEO\ DV WKH )UHQFK LQWHUHVW DQG LQÁXHQFH of soldiers led by a 35-year-old Major Ibrahim has diminished, there has been an increase in Russian Traore announced that they had toppled the PHUFHQDU\ SUHVHQFH DQG R΀FLDO 0RVFRZ LQWHUHVW LQ WKH wobbly government of Col. Paul-Henri Damiba, region. himself a coup leader who overthrew the civilian In what looks like a subtle recolonisation of the government early this year. Although the new DͿHFWHG WHUULWRULHV WKH 5XVVLDQ JRYHUQPHQW WKURXJK WKH leader has promised to respect all existing international Wagner Group pays itself through mining contracts and obligations, the Economic Community of West African concessions with unlimited access to minerals deposits. States (ECOWAS) is yet to understand or get reconciled Given the rather close proximity between the Wagner to the new situation let alone announcing sanctions or an Group and the Kremlin, it is little wonder that some of engagement road map. the crowds that trooped out in Ouagadougou to welcome The reasons for the latest coup sound all too familiar WKH QHZ JRYHUQPHQW FDUULHG 5XVVLDQ ÁDJV DQG SODFDUGV in West Africa’s new coup-riddled landscape. They denouncing France. range from the failure Increasing Russian of the deposed leader to presence and interest in West check jihadist insurgency $IULFD VLJQDOV D VLJQLÀFDQW and increasing violence The way out remains the restoration of a legitimate democratic shift of Western sphere of and insecurity to the LQÁXHQFH IURP :HVW $IULFD worsening social and government with an enhanced capacity for sound economic management to where France had been economic conditions in the the major holding power. attract greater international support and assistance country. Instructively, the ,Q WKH VSHFLÀF LQVWDQFH RI latest coup succeeded in Burkina Faso, the recent the streets before the coup coup indicates a further makers declared a military T H I S D AY degeneration of a political situation that had been success. Throngs of citizens had trooped out at the sound EDITOR SHAKA MOMODU deteriorating since after the assassination of the charismatic RI JXQÀUH LQ WKH YLFLQLW\ RI WKH VHDW RI JRYHUQPHQW LQ DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA Thomas Sankara. Successive attempts at democracy have anticipation of a change long foretold. After the formal MANAGING DIRECTOR ENIOLA BELLO been bedeviled by chronic economic hardship caused announcement of the coup, crowds massed in the streets DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU by instability in the international prices of the country’s CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI LQ D MXELODQW VDOXWH 7KH GHSRVHG 'DPLED KDV VLQFH ÁHG WR mostly primary exports especially cotton. The landlocked EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN neighboring Togo ostensibly on exile. MANAGING EDITOR BOLAJI ADEBIYI country mostly dependent on the production of primary In recent months, a combination of jihadist insurgents THE OMBUDSMAN KAYODE KOMOLAFE products has witnessed worsening social and economic in the northern and eastern parts of the country had conditions. Incidentally, democratic legitimacy has never engendered widespread insecurity in the country. Killings been a replacement for sound economic management. of many civilians and soldiers alike had become rampant. For Burkina Faso, the challenge is even more daunting. T H I S D AY N E W S PA P E R S L I M I T E D 6LJQLÀFDQWO\ WKH SUHVVXUH RI MLKDGLVW YLROHQFH IURP WKH Both successive democratic regimes and the military EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA Sahel has created widespread political instability across GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, juntas have all cultivated loyalty within a politicised West Africa leading to the military overthrow of civilian ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI military establishment which implies an inbuilt instability. governments in Guinea, Mali, Chad, Sudan and Burkina DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, 0RUHRYHU WKH HͿHFW RI FOLPDWH FKDQJH RQ DJULFXOWXUDO FURS Faso. In all these recent coups, the same set of reasons and ANTHONY OGEDENGBE production for export and domestic consumption means MXVWLÀFDWLRQV KDYH EHHQ DGYDQFHG DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI ingrained economic and social unrest, the perennial In addition to jihadist militant pressure, the progressive SNR. ASSOCIATE DIRECTOR ERIC OJEH excuses of lazy coup makers. The way out remains the ASSOCIATE DIRECTOR PATRICK EIMIUHI withdrawal of France and French troops as a stabilising CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI restoration of a legitimate democratic government with force has exposed the former French colonies on the West DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO an enhanced capacity for sound economic management African coast to the ambition of politicised soldiers. A TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com to attract greater international support and assistance. VXFFHVVLRQ RI ZHDN DQG HͿHWH FLYLOLDQ DGPLQLVWUDWLRQV

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

LETTERS THE FLOODS SWEEPING THROUGH NIGERIA For many years especially since post 2015, Nigerian families have had to put up with all manner of formidable odds. The country may have been a hotbed of poverty even before 2015 but the statistics are unimpeachable as to the fact that a bad situation has only grown worse since then. While it is true that before 2015 the security situation in Nigeria was worsening, it is even truer that since then things have lurched out of control, piling an incalculable cost on the country in terms of lives lost and economic opportunities gone. In more than 60 years of being an independent country, the argument that the country has never had it this bad would take some serious beating. By November 2022, Nigeria`s surging population is expected to hit 216 million. About 91 million Nigerians languish below the poverty line. The cost has been a staggering one. That the country remains one of the world`s poorest in spite of its staggering natural resources and even more staggering human resources speaks to the fact that those who have managed the country for decades have failed to put in place the structures and factors that could have seen Nigeria maximize its resources to guarantee quality lives for its teeming population.

That the country continues to post some truly scandalous statistics about wholly avoidable challenges is testament to the fact that the country has so far failed to build a system that can withstand shocks and guarantee that life can be lived with some measure of dignity. In many ways, Nigeria remains a poorly planned country. It also remains a country with no plans for its immediate future. Over the years, because those tasked with managing the DͿDLUV RI WKH FRXQWU\ KDYH EHHQ VKRUWVLJKWHG WKH\ KDYH EHHQ complicit in ensuring that the country has no long-term plans for its people. It is then no surprise that the prophecy about WKRVH ZKR IDLO WR SODQ LV IDVW EHLQJ IXOÀOOHG LQ WKH OLIH RI 1LJHULD as a country. Across some states of Nigeria, nature has been venting its IXU\ 7KH ÁRRGV VXUJLQJ WKURXJK PDQ\ RI VWDWHV KDYH EHHQ sweeping away lives, property and livelihoods. In Kogi, Katsina, Enugu and Anambra States, for examSOH PDQ\ KDYH ORVW HYHU\WKLQJ WR WKH ÁRRGV HYHQ WKHLU OLYHV In Anambra State, eight Local Government Areas of Ogbaru, Onitsha North, Onitsha South, Anambra East, Anambra West, Awka North, Anyameli, and Oyi are said to be under water.

Jigawa State in the North has also experienced its share of devDVWDWLQJ ÁRRGV WKLV \HDU 7KRXJK WKH ÁRRGV KDYH VRPHWKLQJ WR GR ZLWK FOLPDWH change, they did not come out of nowhere. There were predictions. Nigeria has known for years that some states are prone WR ÁRRG <HW IRU PDQ\ \HDUV QRWKLQJ KDV EHHQ GRQH WR LPSURYH the resilience of such states. Entire families have been left at the mercy of nature because over the years, adequate measures have not been put in place to ensure that when such events occur as they would, people are as protected as humanly possible. Instead, what is usually the case as seen in Kogi State where the Governor`s wife has taken to sharing canoes emblazoned with the logo of the ruling All Progressives Congress is that those who are in a position to do something about events such DV WKH SHUHQQLDO ÁRRGV ZRXOG UDWKHU GR QRWKLQJ EXW SUHIHU WR wait for the opportune moment at which to reap maximum political gain from the pains of others. Kene Obiezu, @kenobiezu

T H I S D AY ˾ WEDNESDAY, OCTOBER 12, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

O C T O B E R

S & P INDEX

1 1 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

7.64%

*AS AT LAST FRIDAY

3-MONTH

10.52%

MONTH-TO-DATE

0.44%

GTCO, ETI, Zenith Bank, 9 Others’ Non-Performing Loans Up 3.9% to N1.5trn in H1

Kayode Tokede AThe value of 12 banks NonPerforming Loans (NPL) increased by 3.9 per cent to N1.15trillion as of half year (H1) ended June 30, 2022 from N1.109 trillion reported in 2021 financial year, investigations by THISDAY has revealed. Despite severe macroeconomic challenges, the 12 banks in the period under review granted a whopping sum of N27.31 trillion as net loans and advances to customers, representing an increase of 10.7 per cent from

N24.67trillion reported in 2021. The 12 banks are: Access Holdings Plc, Zenith Bank Plc, Guaranty Trust Holding Company Plc (GTCO), United Bank for Africa Plc (UBA), FBN Holdings and Ecobank Transnational Incorporated (ETI). Others are: Wema Bank Plc, FCMB Group, Union Bank of Nigeria Plc, Fidelity Bank Plc, Stanbic IBTC Holdings Plc and Sterling Bank Plc. THISDAY can report that with the banking sector’s NPL ratio closing H1 2022 at 4.95 per cent compared with 5.7 per cent in H1 2021, a total of

nine banks reported NPL ratio below the five per cent ratio stipulated by the Central Bank of Nigeria (CBN). Meanwhile, analysts believe severe domestic and foreign macroeconomic challenges impacted on banks loans to customers, leading to hike in the banking sector bad loans in the period under review. Commenting, the Vice President, Highcap Securities Limited, Mr. David Adnori explained that most Tier-1 Nigerian banks employed cautious approach in lending to customers over uncertainty in domestic and global

economy post Covid-19 pandemic lockdown. He added that post-election year is always a difficult year lending to customers, given uncertainty surrounding the outcome of the election. On the growth of 10.7 per cent in gross loans to customers, he said the Nigerian banking industry showed resilience in the period under review as loan portfolio increased despite weak economy and regulatory constraints. He said notwithstanding the prevailing global supply constraints, the

Russian-Ukraine crisis and insecurity challenges in Nigeria, the decline in NPL and growth in gross loans indicated that more banks now have a better understanding of the macroeconomic headwinds. THISDAY analysis of the banks’ financial statements for the half year ended June 30, 2022 revealed that ETI, Access Holdings, Zenith Bank reported highest NPL by value among the 12 banks, while Wema Bank and Sterling Bank reported the lowest NPL by value. With about 3.01 per cent decline

in net loans & advances to customers to N3.94 trillion as of June 30, 2022, ETI’s NPL dropped to N244.22billion as of June 30, 2022 from N251.8billion reported in 2021. The Pan-African bank show its NPL ratio remaining unchanged at 6.2 per cent from 2021 FY as it has improved significantly compared to the 7.4per cent in the H1 2021. Access Holdings, however, reported drop in NPL ratio to 3.7 per cent as of June 30, 2022 from four per cent Continued on page 27

NGX Targets $20bn Tech Sector with Specialised Listing Board Kayode Tokede Following its bid to strengthen the diversity of the capital market by redefining it as an attractive destination for technology companies, the Nigerian Exchange Limited (NGX) has said that it is targeting $20billion technology sector with specialised listing board on the bourse. The African tech sector is fast growing with start-ups raising over $4 billion between 2015 and 2021 with combined valuations surpassing $20 billion according to a Disrupt Africa report.

The NGX recently held a NGX Technology Board Webinar to drive comprehensive discussions and cogent actions to develop African technology. The event with a theme, “Enabling the Next Wave of Growth for Technology Companies in Africa,” had astute professionals in both the public and private sectors express optimism about the proposed launch of NGX Technology Board to encourage more Tech listings and contribute substantially to the proliferation of opportunities for African technology firms.

Opening the event with his remarks, the Chairman of NGX, Abubakar Mahmoud, represented by NGX board member, Erelu Angela Adebayo, said Nigeria is home to several unicorns like Flutterwave, Andela, Jumia, Opay which have valuations surpassing $1 billion. He said, “As a sustainable exchange championing Africa’s growth, NGX is positioned to support the growth of the next wave of technology companies. It is stimulating the capital market, providing a tailored platform for tech companies in Nigeria and

wider Africa to access growth capital whilst providing exit opportunities for all investors. The next wave of growth for home-bred technology companies needs to be anchored on sustainability, agility, collaboration and digital innovation and these are elements that NGX represents.” Director General, Securities Exchange Commission (SEC), Mr Lamido Yuguda, represented by Dayo Obisan, Executive Commissioner, Operations, SEC, while delivering his goodwill message noted that with the several developments recorded

in the technology space, Africa remains a continent with the highest potential when it comes to tech and innovations and as such, its ability to determine its future digitally must be accelerated by strengthening its technological capabilities. According to him, “Africa has the potential to grow into a technological giant with the right enablement and SEC will support laudable initiatives aimed at improving on the capacity of our market to develop a robust ecosystem for the Nigerian capital market.”

In his opening remarks, the Chief executive Officer, NGX, Mr Temi Popoola said, “The Exchange in conjunction with other major stakeholders including the SEC, Central Bank of Nigeria (CBN), Central Securities Clearing Systems (CSCS) and Pension Fund Operations Association of Nigeria (PenOp) are working tirelessly to launch and on-board a new asset class. “The Specialised Technology Board aims to encourage the listing of companies in the Technology space, provide increased Continued on page 27

M A R K E T D ATA A S AT T U E S D AY, O C T O B E R 1 1 , 2 0 2 2 BILLS

BONDS DESCRIPTION Price ^14.20 14MAR-2024 13.53 23MAR-2025 ^12.50 22JAN-2026 ^16.2884 17MAR-2027 ^13.98 23FEB-2028

Yield

100.36

13.89

98.84

14.09

96.85

13.70

108.30

13.73

100.25

13.90

Change Updated Time (%) 7, 0.00 October 2022 7, 0.01 October 2022 7, 0.00 October 2022 7, 0.00 October 2022 7, 0.00 October 2022

MATURITY

Discount

Yield

OTC F X F U T U R E S

CPS

Change Updated Time (%)

NTB 10Nov-22 NTB 26-Jan23 NTB 9-Feb23 NTB 9-Mar23

5.91

5.94

0.00 October 7, 2022

6.51

6.64

0.00 October 7, 2022

6.62

6.77

0.00 October 7, 2022

6.84

7.04

0.00 October 7, 2022

NTB 27-Apr23

7.22

7.52

0.00 October 7, 2022

MATURITY FSDH CP VII 27-OCT-22 SIBP CP III 27-OCT-22 DLMG CP IV 11-NOV-22 FDHP CP III 17-MAR-23 VHPL CP III 1-APR-23

Discount Yield

Change Updated Time (%)

11.14 11.21

0.00 October 7, 2022

10.29 10.34

0.00 October 7, 2022

13.64 13.82

0.00 October 7, 2022

12.67 13.42

0.00 October 7, 2022

17.17 18.71

0.00 October 7, 2022

CONTRACT Current TENOR Contract Rate Updated Time ($/₦) (MONTH) NGUS OCT 26 449.69 1 October 7, 2022 2022 NGUS NOV 30 451.43 2 October 7, 2022 2022 NGUS DEC 28 3 453.18 October 7, 2022 2022 NGUS JAN 25 4 454.92 October 7, 2022 2023 NGUS FEB 22 5 456.67 October 7, 2022 2023

WEDNESDAY, OCTOBER 12, 2022 ˾ T H I S D AY

BUSINESSWORLD

ECONOMY

The Pending Audit of COVID-19 Funds’ Utilisation James Emejo writes on the withheld audit report on the utilisation of the COVID-19 intervention funds and the need for a truly independent and powerful audit institution that is free from political manipulation

o doubt, since the outbreak and spread of the COVID-19 pandemic globally and in Nigeria in particular, the federal government has spent huge resources in trying to contain the public health issue, and keep the economy afloat at the same time. As lockdowns and restriction movements were further announced to curtail the spread of the virus, the federal government had been responsive by taking measures to ameliorate the economic and social impact of the pandemic on particularly vulnerable Nigerians. In the process, the government embarked on several interventions, committing billions of naira to ensure that the businesses and households are not left stranded in the interest of the economy. To boost consumer spending, among other things, the government embarked on targeted interventions in various sectors of the economy as well as expanded the social safety net to cater to the most vulnerable in the country.

FUNDING COMMITMENTS The Minister of State, Ministry of Budget and National Planning, Prince Agba, while giving a breakdown of the COVID-19 expenditure in the country, disclosed that the total package included N500billion stimulus from a special federal government account in the budget and N1.8 trillion through financial institutions. According to him, from the N500 billion stimuli from the revised 2020 budget, there was the provision of N126 billion to build a resilient health system in Nigeria to prevent possible loss of lives. He also said that the government set out to improve health infrastructure by building molecular labs in 52 federal medical centers and teaching hospitals across the country. He said, “Others include the provision of isolation centers, paying hazard allowance for health professionals, providing personal

protective equipment for security agencies and hospitals to continue their operations supporting agencies like the NCDC, NAFDAC among others to play their roles in combating this pandemic.’’ Agba said that a total of 522 ICU beds were provided amounting to 10 ICU beds in each of the 52 federal medical centers and teaching hospitals across the country adding that the federal government also took measures to support states’ response to the pandemic, adding that in the first instance, 50 per cent of the N500 billion was released to the various responsible agencies. Agba, further noted that “Most of the MDAs received at least 50 per cent of the budget for projects, like Ministry of Agriculture which has N34 billion as the budget for rural roads was given 50 per cent of that amount and they were also given 50 per cent of the amount for land preparation which is N1.25 billion. He added that the mass rural electrification and solar power strategy had N6.2 billion released to them while FERMA received N30 billion for bridges and major roads, as well as the Federal Ministry of Industry, Trade and Investment which got N75 billion MSME support programmes. The Federal Medical Centres (FMC) with about N49 billion budget also had 50 per cent of that amount allocated, he said.

TRANSPARENCY IN FUNDS’ ADMINISTRATION However, amidst the huge spending by the government to contain the pandemic, Nigerians had expressed concerns over issues of transparency and accountability in the proper usage of the intervention funds. Their anxiety particularly holds water in view of the endemic corruption and gaps in financial accountability,

especially among public officials. There were allegations that a huge chunk of the intervention had been diverted into private pockets, insinuations that even made some Nigerians nurture the belief that COVID-19 never existed.

improvement in the performance of these organisations. “It is our hope that going forward, chief accounting officers or accounting officers will see audit report as a necessary instrument to help them improve performance their various organisation.”

AUDITOR-GENERAL’S PROBE

REPORT STILL IN LIMBO

Perhaps, to fulfill its mandate as the Supreme Audit Institution in the country, and given the emerging scenario, in October 2020, the then Auditor General for the Federation (AuGF), Mr. Anthony Ayine, had hinted that the first interim audit report on the COVID-19 intervention funds would be released the next week. He said the maiden report would assess the utilisation of funds released to manage the pandemic starting from the period the Presidential Task Force (PTF) was established up till June 30. He added that the report will subsequently be published quarterly. Ayine, who declined to comment on the highlights of the report, citing administrative protocol of first submitting its findings to the National Assembly before making its content public, had noted that there was a possibility that such funds may have been mismanaged in the process of implementation. The AuGF also insisted that the roles of permanent secretaries and chief executives of the federal governmentowned parastatals remained crucial for the successful execution and implementation of the government’s annual budgets. He said, “Audit essentially is not fault-finding but to add value to the auditee organisation and if the management of auditee organisations are able to realise that the recommendation from the audit office should be implemented: because when implemented will bring about

However, two years down the line and with a new Auditor-General for the Federation, Mr. Adolphus Aghughu in charge, the fate of the much-expected audit report on the use of COVID-19 funds is unknown. THISDAY investigation further revealed that no copy of the proposed report had been presented to the National Assembly to date, a development, which observers believed might not be unconnected with vested interests who would not want the findings published. Weak audit institution There had been further concerns that the existing Act establishing the Office of the Auditor-General does not currently provide the institution with the independence and powers to enforce accountability and punish breaches where necessary. The annual report of the auditor-general, which is often submitted to the National Assembly is more of a recommendation as the former lacks lack the powers to sanction financial infractions by MDAs. Also, because of the inherent weaknesses in the Audit Act, public institutions don’t often take audit queries seriously, a development that had always been highlighted in its reports to the legislature. Already, there is an Audit Bill before the National Assembly seeking to give more powers to the OAuGF to hold public entities to account for their actions. But whether the bill will see the light of the day is another issue. If anything, Nigerians are eager to know how the COVID-19 intervention funds were dispensed in the interest of transparency and accountability.

T H I S D AY ˾ WEDNESDAY, OCTOBER 12, 2022

BUSINESSWORLD

FINANCE

CILT, NITT, Others, Push for National Transport Databank for Real-time Sector Monitoring

Ghana Transport Minister and Chairman of Maritime Organisation of West and Central Africa (MOWCA) Kwaku Ofori Asiamah; Secretary General of International Maritime Organisation (IMO), Kitack Lim and Secretary General of MOWCA, Dr Paul Adalikwu, shortly after signing an IMO/MOWCA Joint Action Plan in London… recently

Q2: Insurance Sector Records 56.9% Profit Growth, N2.3trn Assets

Ebere Nwoji

The Insurance sector in the second quarter of 2022 maintained a relative position in terms of profitability in comparison to the same period last year as the industry achieved 56.9 percent growth in profitability compared to 57.7 percent profit growth in the preceding year. The sector’s total assets for the period stood at 2.3 trillion These were contained in the recent insurance sector performance analysis released by the National Insurance Commission (NAICOM) . During the period under review,

the Non-Life segment however recorded a loss of 43.6 percent while the life business growth stood at about 69 percent. Industry analysts said the performance during the period depicts a less profitable scenario comparatively, over the same period. The commission said the net loss ratios for non-life, bore an improved market image in the current period as compared to the preceding period when it was 48.2 percent. It said drivers of the loss experience were made up of some twelve underwriters with a record of loss ratios above 100 percent.

It however said the viability of the industry and especially its outlook, remains good and suitable for gainful returns on investment, adding that the COVID-19 crisis introduced opportunities for underwriters to refine their operations as there was still a lot of untapped potential for improvements. NAICOM, in the report noted that the market concentration in the non-life sector sustained its conducive and fair competitiveness while also remaining skewed in the life segment of the market. “In the Life segment, top three institutions control about 45 percent of the total Life market

while the top three driver firms of the non-life segment, retained a market control of about 27 per cent”, NAICOM stated. According to NAICOM, an extension of assessment reveals that about 80.4 per cent of all life business was controlled by the top 10 players in the market compared to about 60.2 per cent in the prior period YoY. NAICOM further observed that the top ten underwriters in the Non-Life section of the industry contributed about 60.8 per cent of the gross premium income sustaining a similar scenario in the corresponding prior period.

Brokers, Stakeholders Renew Confidence in Staco Assurance Ebere Nwoji Insurance Brokers, strategic stakeholders and clients have expressed their renewed confidence in the capability of the newly revived Staco Insurance Plc to render excellent insurance services in the country. Speaking at the October 2022 edition of the Annual General Meeting of the Lagos Area Committee of the Nigerian Council of Registered Insurance Brokers, the Brokers who threw their support behind the company through the Council’s President, Mr. Rotimi Edu,

said the noticeable turnaround in the Staco Assurance under the new management led by Wale Banmore was enough credibility to attract brokers again to the company. According to Edu, it is characteristic of organisations to have crisis, but what matters was the resolve to put in place strategies for quick and strong recovery, noting that Staco was a solid underwriting firm which had human capital, rather than technical issues, and that with the new leadership, the confidence level of clients was moving northwards for the company again. He stated that the volume of

businesses being underwritten by the company in the little space of time of the revalidation of its operational license spoke volume of the goodwill and confidence in the new board and management. Similarly, Mrs. Bimbo Onakomaiya, another foremost insurance broker extolled the virtues of the Managing Director, Mr. Banmore whom he described as a humble, diligent and astute underwriter, whose track records of customer sensitivity in his previous positions in the industry trail him everywhere and would stand him in good stead on his now assignments.

Banmore who led the Management of Staco Insurance Plc to the forum had earlier canvassed the support of brokers, noting that great attention had been paid to settlement of all outstanding claims by the company, a situation he said had started to turn around the fortune of the company positively and rapidly too. He said since insurance brokers constitute a critical chunk of the customer base of all underwriting companies in Nigeria, no underwriter could excel without their support and opined that Staco was on the right path to its underwriting excellence.

As nations continue to struggle on combating carbon blueprint, greenhouse gas emissions, one key point raised from the Chartered Institute of Logistics and Transport (CILT) 2022 conference is the need for the country to have a national transport data bank connected to similar facilities globally. The databank experts at the event proffered, would be a one-stop shop for a real time transport data sharing and integration among stakeholders in the industry primarily for monitoring and performance evaluation of all modes. But, according to stakeholders in the industry, it is worth noting that the deployment of sustainable innovations and technologies in global logistics and transport would help authorities to address real-time safety and security challenges synonymous with the transport operations. Similarly, they harped on investing more on digital transport infrastructure such as unmanned aerial vehicles (drones) to monitor the movement of oil tankers in Nigeria’s coastal waters, departure and arrival of train services, among others, across the country. Speaking at the event, with the theme, “Sustainable Innovations in Global Logistics and Transport,” the Minister of Transportation, Mu’azu Sambo, said the Federal Government is making concerted efforts to establish critical Transport Infrastructure to ensure Sustainable Transport and Logistics. He maintained that the recent ports reform programme aimed at decongesting the seaports, taking shipping and port services closer to importers and exporters is key for the industry. According to him, “There has been a massive shift for the connection of the rail, road and maritime subsector to reduce road traffic congestion and increase the competitive edge of the Transport and Logistics sector. A lot still needs to be done to develop the Logistics and transport industry of our dear Country.” Represented by the Deputy Director, Research and Statistics, Federal Ministry of Transportation, Mr. Ibrahim Biu, he urged transport researchers

and transport regulators to collaborate and use “this platform to develop innovative strategies that would aid in sustaining and developing the Transportation Sector.” For the chairman of the event, Chairman, Fobat Properties Nigeria, Adebayo Sarumi, nations willing to grow must follow up and embrace innovations that deploy new ways of doing things more efficiently. According to him, “They must timely invest in emerging technological innovations on transport equipment, methods, practices and deploy relevant infrastructure in the transport system that will make them competitive.” Giving his goodwill speech, the Director-General, Nigerian Institute of Transportation Technology (NITT), Dr. Bayer Salih-Farah, said as the apex transport research, NITT has begun the construction of a facility that will house its transport databank. According to him, when completed and made operational, monitoring of transport activities across all modes would receive a boost with connectivity to similar facilities globally. “Smart and Innovative contemporary Transport equally considers the use of Intelligent Transport System (ITS) in traffic management on one hand, for instance, as it relates to prediction of future traffic demand more accurately towards reduction of congestion and improving safety and travel experiences for road users. “As we aspire to promote sustainable innovation in global logistics and transport namely rebuilding of mass transit systems, multimodality, renewable energy use, adequate supply of green mode (walking and cycling) infrastructure, building of climate resilient transport infrastructure. Investing in new technologies that reduces emission and priority funding of a National Transport Data Ecosystem (National Transport Databank) a one-stop shop for real-time transport data sharing and integration among stakeholders in the Industry in Nigeria, primarily for monitoring and performance evaluation of all modes, “he said.

and I’m particularly excited about the NGX’s Technology Board plan which will help grow the listings of Nigerian and Africa tech companies.

It will aid price discovery of tech industry valuations, and channel capital to tech and other sectors, ”she said.

NGX TARGETS $20BN TECH SECTOR WITH SPECIALISED LISTING BOARD transparency, and visibility on foreign investment activities in tech companies and local tech startups.”

Giving the keynote address, the Deputy Governor, Financial Systems Stability Directorate, CBN, Mrs Aisha Ahmad noted that tech

had grown from an enabler of business to a fully-fledged sector as some of the largest companies in the world like Meta and Google.

“Africa is a $2.7trn economy and for this growth to translate into broader economic impacts, we need more local investor participation

GTCO, ETI, ZENITH BANK, 9 OTHERS’ NON-PERFORMING LOANS UP 3.9% TO N1.5TRN IN H1 reported in 2021 to positioned its NPL to N185.8billion in H1 2022 from N181.5billion reported in 2021. Access Holdings attributed the decline in NPL ratio on proactive monitoring and robust risk management practices. General Commerce with 17.2 per cent as of June 30, 2022 from 17.1 per cent in 2021 contributed highly to NPL distribution by sector reported by Access Holdings, followed by 13.5 per cent in manufacturing- others as of June 2022 from 13.4 per cent in 2021. The significant increase of N4.92trillion loans to customers as of June 30, 2022 from N4.45trillion reported in 2021 impacted on NPL in the period under review. Zenith Bank reported N159.6billion NPL as of June 30, 2022 from N146.8billion in 2021FY as its NPL ratio moved from 4.19 per cent as of June 30, 2022 from 4.35 per cent reported in 2021.

On its risk management strategy, Zenith Bank in a presentation to investors/analysts highlighted that, “The Group adopts a complete and integrated approach to risk management that is driven from the Board level to the operational activities of the bank. Risk management is practiced as a collective responsibility coordinated by the risk control units and is properly segregated from the market facing units to assure independence. “The process is governed by welldefined policies and procedures that are subjected to continuous review and are clearly communicated across the group. There is a regular scan of the environment for threats and opportunities to improve industry knowledge and information that drives decision-making.” The bank said maintained a proactive approach to business and ensures an appropriate balance in its

risk and reward objectives. As FBN Holdings reported N155.63billion NPL as of June 30 from N135.24billion in 2021, GTCO closed June 30, 2022 with N118.6billion NPL from N113.94billion in 2021. According to GTCO, its Group’s IFRS 9 Stage 3 loans closed at 6.2per cent in H1 2022 from six per cent in 2021. The bank in a presentation explained that the marginal increase in NPL was as a result of stress noted with certain exposures within the Hospitality, Individuals, Clubs, Co-operative Societies and Unions as the obligors within these sectors are yet to fully recover from impact of COVID 19. The bank added that, “IFRS 9 Stage 3 loans closed at N118.5billion in H1 2022 increasing by 4.06per cent from N113.9billion as at FY 2021. Balance Sheet Impairment Allowance for Stage 3/Lifetime

Credit Impaired exposures closed at N84.2billion representing 71.1per cent coverage of Loans in this classification. “In aggregate terms (including Regulatory Risk Reserves of N93.9billion) the Group has adequate coverage of 150.3per cent for its IFRS 9 Stage 3 loans /NPLs, this position is consistent with the Group’s plan to maintain 100per cent coverage for its NPLs.” In addition to leading banks NPL performance, UBA with N2.95trillion net loans accounted for N97.4billion NPL as of June 30, 2022 from N102.04billion in 2021 when it closed with N2.83trillion net loans to customers. The UBA stated that its prudent underwriting standards, and proactive credit monitoring resulted in a further drop in NPL ratio to 3.3per cent in H1 2022 from 3.6 per cent in 2021.

“Well diversified loan book across strategic economic sectors translating to moderate credit risk,” the bank also explained in a presentation to analysts/Investors. UBA’s Group Managing Director/ Chief Executive Officer, Mr. Oliver Alawuba in a statement said 2022 showed initial signs of recovery of economies across the globe, despite continued COVID-induced supplychain disruptions, stressing that geopolitical challenges including the Russia and Ukraine conflict, resulted in escalation of global commodity prices, particularly those of grains and crude oil, which have taken a toll on several economies. Further findings revealed that Wema bank announced N14.3billion NPL as of June 30, 2022 from N21.3billion in 2021, while Stanbic IBTC Holdings reported N25.28billion NPL as of June 30, ,2022 from N20.39billion in 2021.

According to Wema Bank, general commerce had the largest share at 51 per cent in the period under review as against 34 per cent reported in corresponding period of 2021. “Local currency NPLs experienced a 29 per cent drop to close the six months period at N14.25billion NPLs declined y-o-y for these sectors: construction, general, manufacturing, admin and support, real estate activities, water supply, sewage, waste management, professional, scientific, and technical activities. The reduction in NPLs is on the back of an increase in collections and recoveries, as well as a growth in loan book,” the bank explained. With the mixed performance in NPL ratio, members of Monetary Policy Committee (MPC) of the CBN have expressed satisfaction over banks resilience performance in lending to real sector amid challenges.

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

iii

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

Vii

Viii

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

XII

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

XIII

XIV

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

XVI

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

XVii

XViii

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

XiX

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

XXi

XXii

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

XXiii

XXiV

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

XXV

XXVI

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

XXVII

XXVIII

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

XXIX

XXX

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

XXXI

XXXII

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

BII

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

BIII

BIV

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

BVI

SICPA SA: Long-Trusted Partner To Governments, Central Banks, High Security Printers Across Boundaries

B1> ?5:/1 ' % ' /-91 5:@; #531>5- @41 /;9<-:E 4-? .11: /;:?5?@1:@ 15:3 5: .A?5:1?? /-: .1 ;B1>C41895:3 -@ @41 .1?@ ;2 @591? ?A/4 @4-@ 5@ .1/;91? - .1:A9.5:3 /4-881:31 31@@5:3 @41 -1?@41@5/ 05?@-:/1 2;> - ¿UP WR OLWHUDOO\ HQJDJH LQ D SURSHU 5:@1>/;A>?1 C5@4 5@? ?1>B5/1? -:0 /851:@? ' % 5? :;@ :1C 5: #531>5- : @41 /;9<-:E 4-0 ?53:10 - 919;>-:0A9 ;2 A:01>?@-:05:3 ";) C5@4 #531>5-: '1/A>5@E %>5:@5:3 "5:@5:3 #'%" (45? C-? 2;88;C10 .E - '4->14;801>?L 3>1191:@ ?53:10 .1@C11: #'%" -:0 ' % ;805:3 5: C45/4 810 @; @41 />1-@5;: ;2 - 6;5:@ B1:@A>1 /A895:-@5:3 5: (-C-0- !595@10 C5@4 #'%" 4;805:3 <1>/1:@ ;2 @41 1=A5@E -:0 ' % <1>/1:@ (-C-0- C45/4 ?@->@10 5@? ;<1>-@5;:? 5: 5? 8;/-@10 5: .A6- (-C-0- 9-:A2-/@A>1? -88 @41 ?1/A>5@E 5:7? A?10 @; <>5:@ @41 #-5>- /A>>1:/E '<1/525/ >-C 9-@1>5-8? ->1 :;C ?;A>/10 8;/-88E 2;88;C5:3 ' % L? B-850-@5;: -:0 - @1/4:;8;3E @>-:?21> <>;3>-9 5? .15:3 59<8191:@10 -595:3 -@ 5:/>1-?5:3 @41 8;/-8 /;:@1:@ ;2 @41 ?1/A>5@E 5:7? 9-:A2-/@A>10 9;:3 /;9<-:51? @4-@ /-91 5:@; @41 /;A:@>E @41: ' % 4-0 -8>1-0E C;: <5<? ;2 4534 >1/;3:5@5;: C5@45: @41 /;95@E ;2 /;9<-:51? 1B1: C5@4 - ?;91C4-@ @5@81 ;2 >13A8->5@E /A9 /;:?5?@1:/E @; 5@? :-91 (41 /;9<-:E -<<1->? /-?@ 5: @41 9;01 ;2 @41 01<;?5@5;: ;2 @41 B1>E .1?@ @4-@ 1DA01? 2A88 /;:B5/@5;: ;2 <-??5;:-@1 5:@1:?5@E : 8;;75:3 -@ C4-@ ' % 4-? .11: 0;5:3 5: #531>5- ;:1 5? .;A:0 @; 4;80 @; @41 /;9<-:EL? 01<5/@5;: ;2 @41 9->71@ 81-01> 5: ?1/A>5@E 5:7? -:0 81-05:3 <>;B501> ;2 ?1/A>10 -A@41:@5/-@5;: 501:@525/-@5;: @>-/1-.585@E -:0 ?A<<8E /4-5: ?;8A@5;:? ' % 5? - 8;:3 @>A?@10 <->@:1> @; 3;B1>:91:@? /1:@>-8 .-:7? 4534 ?1/A>5@E <>5:@1>? -:0 WKH LQGXVWU\ LQ GLɣHUHQW FRXQWULHV RI @41 C;>80 B1>E 0-E 3;B1>:91:@? /;9<-:51? -:0 95885;:? ;2 /5@5F1:? >18E ;: 5@? 1D<1>@5?1 C45/4 /;9.5:1? 9-@1>5-8 .-?10 /;B1>@ 21-@A>1? -:0 0535@-8 @1/4:;8;351? @; <>;@1/@ @41 5:@13>5@E -:0 B-8A1 ;2 @415> /A>>1:/E <1>?;:-8 501:@5@E B-8A1 0;/A91:@? 1 3;B1>:91:@ ?1>B5/1? -? C188 -? <>;0A/@? -:0 .>-:0? (>A1 @; 5@? <A><;?1 ;2 1:-.85:3 @>A?@ @4>;A34 /;:?@-:@ 5::;B-@5;: ' % 4-? .11: -595:3 @; 2A>@41> -: 1/;:;9E ;2 @>A?@ C;>80C501 C41>1 @>-:?-/@5;:? 5:@1>-/@5;:? -:0 <>;0A/@? -/>;?? @41 <4E?5/-8 -:0 0535@-8 C;>80? ->1 .-?10 ;: <>;@1/@10 A:2;>31-.81 -:0 YHUL¿DEOH GDWD ;A:010 5: !-A?-::1 5: 41-0=A->@1>10 5: 'C5@F1>8-:0 -:0 RSHUDWLQJ RQ ¿YH FRQWLQHQWV 6,&3$ 19<8;E? -.;A@ <1;<81 +5@4 9;>1 @4-: -/@5B1 /A?@;91>? C;>80C501 -:0 9;>1 @4-: .5885;: <>;0A/@? 9->710 -:0 <>;@1/@10 C5@4 .>-:0 <>;@1/@5;: ?;8A@5;:? ' % 4-? <>;B1: H[SHULHQFH LQ WKH HɣHFWLYHQHVV RI 5@? ?;8A@5;:? '; 2-> @41>1 ->1 -B-8-:/41 >121>1:/1? -:0 @1?@59;:5-8? 45348534@5:3 @41 <;?5@5B1 59<-/@ REVHUYHG E\ ¿VFDO DGPLQLVWUDWLRQV -:0 /A?@;9? -A@4;>5@51? 5: 05221>1:@ /;A:@>51? 2A>@41> @; @41 59<8191:@-@5;: ;2 ' % L? >1B1:A1 9;.585?-@5;: ?;8A@5;:? 2;> <>;0A/@? ?A.61/@ @; 1D/5?1 @-D B-8A1 -0010 @-D

* ( -:0 ;@41> 0A@51? 8?; @41>1 ->1 ?A.95??5;:? .E 5:@1>:-@5;:-8 ;>3-:5?-@5;:? ?A/4 -? +;>80 -:7 :@1>:-@5;:-8 ";:1@->E A:0 " ):5@10 #-@5;:? )# 5:@1>:-@5;:-8 <A.85/-@5;:? 8;/-8 1/;:;95/ <>1?? -:0 05>1/@8E .E JRYHUQPHQW DXWKRULWLHV RI GLɣHUHQW FRXQWULHV WR DɤUP WKH FRPSHWHQFH ;2 @41 /;9<-:E ,Q DGGLWLRQ WR FRXQWU\ VSHFL¿F @1?@59;:5-8? B->5;A? 9-6;> 5:@1>:-@5;:-8 5:?@5@A@5;:? 4-B1 1:0;>?10 ' % L? (>-/7 (>-/1 ?;8A@5;:? ;> 1D-9<81 - >1<;>@ 2>;9 (41 +;>80 -:7 5:/8A01? 9A8@5<81 /-?1? ?@A051? 2>;9 B->5;A? /;A:@>51? @4-@ 4-B1 59<8191:@10 ' % L? ?;8A@5;:? 5:/8A05:3 1:E- /A-0;> -:0 1;>35(41 2101>-8 3;B1>:91:@ @;;7 @41 01/5?5;: :;@ ;:8E .1/-A?1 ' % ' <;??1?? @41 >1=A5?5@1 ?7588? /-<-.585@51? -:0 1D<1>51:/1 .A@ -8?; EHFDXVH LW SRVVHVVHV WKH ¿QDQFLDO UHVRXUFHV WR HɣHFWLYHO\ GHSOR\ WKH >1=A5>10 ?;8A@5;: @; 1:?A>1 @41 >1-85?-@5;: ;2 @41 ;A@/;91? ;A@85:10 -@ @41 5:/1<@5;: ;2 @41 5:5@5-@5B1 (41 /;9<-:E 4-? - <>;B1: @>-/7 >1/;>0 -:0 @41 1D<1>@5?1 @4-@ 5? 019;:?@>-@10 @4>;A34 @41 ?A//1??2A8 1D1/A@5;: -:0 /;9<81@5;: ;2 ?5958-> <>;61/@? C5@4 3;B1>:91:@-8 -A@4;>5@51? C;>80C501 5:/8A05:3 2>5/-: /;A:@>51? ?A/4 -? ";>;//; (-:F-:5- 1:E- )3-:0- ;> (;3; :@1>:-@5;:-8 -:0 38;.-8 5:?@5@A@5;:? ?A/4 -? @41 +;>80 -:7 @41 " -:0 @41 +;>80 A?@;9? $>3-:5?-@5;: -/7:;C81031 ' % L? (>-/7 -:0 (>-/1 ';8A@5;:? -? 5:?@>A91:@-8 @; ?@>1:3@41: 0;91?@5/ >1B1:A1 9;.585?-@5;:

DQG ¿JKW LOOLFLW WUDGH 1:E- ?-E? J : 1:E- - 'C5?? /;9<-:E ' % C;: @41 @1:01> 9<8191:@5:3 @41 D/5?-.81 ;;0? "-:-3191:@ 'E?@19 "' @A>:10 ;A@ @; .1 /41-<1> @4-: @41 /;?@ ;2 @41 <>1B5;A? ?E?@19 (41 59<8191:@-@5;: ;2 @41 "' 4-? 810 @; -: 5:/>1-?1 5: @;.-//; @-D >1B1:A1 $B1>-88 @-D /;9<85-:/1 1D<-:010 .E <1>/1:@ ZKLOH FRVWV ZHQW GRZQ« ,Q ¿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¿FDQW SURWHFWLRQ RI UHYHQXH 5:/>1-?10 ;A> @-D E5180 -:0 5@ .1/-91 :1/1??->E @4-@ C1 59<8191:@ ;: @41 >19-5:5:3 <>;0A/@? .;@@810 C-@1> 6A5/1? 1:1>3E 0>5:7? ?;0- -:0 ;@41> :;: -8/;4;85/ 0>5:7? C45/4 /-91 ;: .;->0 ;: #;B19.1> '; 2-> @4-@ 59<8191:@-@5;: 4-? .;>:1 SRVLWLYH RXWFRPH DQG IRU WKH ¿UVW @4>11 9;:@4? ;2 59<8191:@-@5;: >1B1:A1 3>1C .E -: -B1>-31

So far, there are avalanche references and testimonials highlighting the positive impact observed by fiscal administrations and customs authorities in different ff countries

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¿FDQW WD[ UHYHQXH A?@ @4>11 9;:@4? -2@1> @41 ?/4191 C-? <A@ 5: <8-/1 (-:F-:5-: @-D ;225/5-8? 1?@59-@10 @4-@ @41 (' ?E?@19 C-? 418<5:3 @419 >1/;A< ?;91 95885;: - 9;:@4I$B1> WKH FRXUVH RI WKH SDVW ¿QDQFLDO \HDU @41 ?/4191 <A?410 @-D >1B1:A1? A< .E -: 59<>1??5B1 <1>/1:@ <>;9<@5:3 -> 1? '-8--9 @; >;88 ;A@ @41 ?E?@19 2;> .;@@810 C-@1> -:0 ?;2@ 0>5:7? -? C188 //;>05:3 @; )3-:0- &1B1:A1 A@4;>5@E )& J;B1> @41 8-?@ ;:1 E1-> )& 1:2;>/191:@ ;<1>-@5;:? ->;A:0 59<8191:@-@5;: ;2 @41 535@-8 (>-/75:3 ';8A@5;: (' 4-B1 >-710 5: - @;@-8 ;2 ;B1> ) , .5885;: ;2 >1B1:A1 -? - >1?A8@ ;2 QHWWLQJ '76 ÀRXWHUV ZKR ZHUH /-A34@ 9-:A2-/@A>5:3 ?1885:3 1D<;>@5:3 ;> 05?@>5.A@5:3 3-F1@@10 3;;0? C5@4;A@ @41 @-D ?@-9<? K >1B1-810 .E -: &A9-:E57- %A.85/ ;><;>-@1 22-5>? "-:-31> -@ )& (41 0535@-8 @-D ?@-9< 5? - PDUN Dɤ[HG RQ JD]HWWHG SURGXFWV @; A:5=A18E @>-/7 -:0 @>-/1 @419 ;: @41 9->71@ : ";>;//; J C->1 ;2 @41 :110 @; -0;<@ 81?? 5:@>A?5B1 -:0 9;>1 1225/51:@ /;:@>;8 91@4;0? -:0 5: ;>01> @; ;<@595?1 5@? 91-:? ;2 -/@5;: 4A9-: -:0 9-@1>5-8 C4581 59<>;B5:3 5@? >1?A8@? @41 095:5?@>-@5;: ;2 A?@;9? -:0 :05>1/@ (-D1? 4-0 .11: 1:3-310 2;> ?1B1>-8 E1->? 5: - <>;/1?? ;2 >12;>95:3 @41 /;:@>;8 ;2 <>;0A/@5;: -:0 59<;>@-@5;: ;2 /1>@-5: 3;;0? ?A.61/@ @; 5:@1>:-8 /;:?A9<@5;: @-D1? ( 5: <->@5/A8-> 9-:A2-/@A>10 @;.-//; -8/;4;85/ -:0 :;: -8/;4;85/ .1B1>-31? (45? <1>2;>9-:/1

/;:/1>: C-? 9-@1>5-85F10 5: .E @41 -0;<@5;: ;2 -: 5:@13>-@10 -:0 ?1/A>1 @-D 9->75:3 ?E?@19 ?A<<8510 -:0 ?1@ A< .E -: ;<1>-@;> ?181/@10 2;88;C5:3 -: 5:@1>:-@5;:-8 /-88 2;> @1:01>? -:0 C45/4 9-01 5@ SRVVLEOH WR UHGXFH WKH VWDɣ DOORFDWHG @; /;:@>;8 5: @1>9? ;2 ( C4581 LPSURYLQJ WKH ¿VFDO \LHOG RI WKHVH WD[HV DV ZHOO DV WKH ¿JKW DJDLQVW 2>-A0 -:0 ?9A3385:3I @ 5? 5: @45? /;:@1D@ @4-@ ;: $/@;.1> @41 A?@;9? 095:5?@>-@5;: -:0 @41 ?181/@10 ?1>B5/1 <>;B501> ' % ' ?53:10 - :1C -3>1191:@ C45/4 <>;B501? 2;> 5:B1?@91:@? -:0 5::;B-@5B1 21-@A>1? K ? ?@-@10 .E (A>71E &1B1:A1 A@4;>5@E E J()& (& H :. 2;>91> :-91 ;2 @41 G ' ?E?@19 -::A-88E /;B1>? -.;A@ .5885;: @;.-//; .-:01>;8? .5885;: .11> /;01? -:0 95885;: -8/;4;8 .-:01>;8? '5:/1 ()& (& H 4-? .1/;91 ;<1>-@5;:-8 5: A8E @41 >1B1:A1 2>;9 @41 (A>75?4 '<1/5-8 ;:?A9<@5;: (-D 5:/>1-?10 .E )' .5885;: ;: @;.-//; <>;0A/@? -:0 .E )' 95885;: ;: -8/;4;85/ .1B1>-31? (41 1?@59-@10 3;B1>:91:@ .A031@ ;: 1D/5?1 >1B1:A1? 2>;9 @;.-//; -:0 -8/;4;85/ <>;0A/@? 5:/>1-?10 .E <1>/1:@ 5: -:0 .E <1>/1:@ 5: K J : 1;>35- ?1B1: /;9<-:51? ?A.95@@10 <>;<;?-8? 2;> @41 :@13>-@10 'E?@19 ;2 ";B191:@ -:0 &135?@>-@5;: ;2 %>;0A/@? -:0 5: @41 1:0 @41 /;:@>-/@ C-? -C->010 @; ' % - /;9<-:E .-?10 5: 'C5@F1>8-:0 (41 1;>35- &1B1:A1 6HUYLFH LV FXUUHQWO\ VDWLV¿HG ZLWK 5@? <1>2;>9-:/1 1;>35- 4-? 9-:-310 @; ?A.?@-:@5-88E 01/>1-?1 @-D -B;50-:/1 @4>;A34 B->5;A? -095:5?@>-@5B1 91-?A>1? K //;>05:3 @; /A-0;> A@4;>5@E J'5:/1 "->/4 @41 :@1>:-8 &1B1:A1 '1>B5/1 '& 4-? -<<8510 @41 01:@525/-@5;: "->75:3 A@41:@5/-@5;: (>-/75:3 -:0 (-D (>-/75:3 'E?@19 ' " & 2;> 0;91?@5/ /53->1@@1? .11>? -:0 -8/;4;85/ .1B1>-31? J5: ;>01> @; >10A/1 @41 -//1??5.585@E -:0 DɣRUGDELOLW\ RI WREDFFR SURGXFWV DV C188 -? @; <>;@1/@ <A.85/ >1B1:A1?K (41 +;>80 1-8@4 $>3-:5?-@5;: -095@@10 @4-@ @41 ' " & J4-? .1/;91 -: 1D-9<81 2;> ;@41> /;A:@>51? 5: @41 >135;:K (41 9-5: ;.61/@5B1 ;2 ' " & 5? @; 9-5:@-5: 3>1-@1> /;:@>;8 ;2 1D/5?1 <-E91:@? -:0 /;9.-@ @-D 1B-?5;: @ -8?; ?117? @; 01@1/@ <>;0A/@? ;2 0A.5;A? ;>535: //;>05:3 @; @41 8.-:5- -A@4;>5@E J : 1/19.1> @41 8.-:5-: ;A:/58 ;2 "5:5?@1>? 01/5010 @; 5:@>;0A/1 - :-@5;:-8 @>-/7 -:0 @>-/1 ?E?@19 2;> -88 @;.-//; -:0 -8/;4;8 <>;0A/@? 5:/8A05:3 .11> -? C188 -? 9105/5:1? .;@4 9-:A2-/@A>10 5: 8.-:5- -:0 59<;>@10 2>;9 -.>;-0 A88 01<8;E91:@ ;2 @41 -0;<@10 ?E?@19 .-?10 ;: @41 ' % (& H <8-@2;>9 C-? /;9<81@10 5: $/@;.1> 2@1> @41 5:@>;0A/@5;: ;2 @41 @>-/7 -:0 @>-/1 ?E?@19 ;B1> )' 95885;: ;2 -005@5;:-8 >1B1:A1? LQ ¿QHV DQG UHFRYHUHG H[FLVH WD[HV C1>1 /;881/@10 A>@41>9;>1 2>;9 "->/4 @; 1/19.1> @41 8;/-8 .11> <>;0A/@5;: 5:/>1-?10 .E <1>/1:@ /;9<->10 C5@4 @41 ?-91 <1>5;0 5: K (41 ?-91 @45:3 9;01>:5?5:3 @-D -:0 /A?@;9? -095:5?@>-@5;: @; 59<>;B1 >1B1:A1 /;881/@5;: -<<851? 5: ;@41> /;A:@>51? -:0 ?@-@1? -9;:3 C45/4 ->1 -852;>:5- #531> -:0 %4585<<5:1?

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

BVII

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

BVIII

&RQJUDWXODWLRQV (14 # 9'.. &'5'48'& *10174 ǡ ǡ ȋ Ȍ ȋ Ȍǡ

ȋ Ȍ ǡ ǡ ȋ ȌǤ ǡ Ǥ Ǧ Ǥ

À¿¸Ã²ÅÆ½²ÅºÀ¿Ä ºÃʋ ǣ

BIX

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

8X¥ F %

^ŝŐŶĞĚ͗ ĂƉƚĂŝŶ ŚŵĞĚ ŽƌŽĚŽ &ůǇ ŝƌĚ ǀŝĂƟŽŶ ^ƵƉƉŽƌƚ >ŝŵŝƚĞĚ

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

BXI

BXII

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

BXIII

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

BXIV

(// (/(// // (6 (6(59(' 21285 6(5 (59 599(' 2 (' 21 21128 285 85

5W +RQ <DNXEX 'RJDUD &)5 )RUPHU 6SHDNHU +RXVH RI 5HSUHVHQWDWLYHV

FROOHDJXH 5W , &RQJUDWXODWH \RX P\ GHDU EURWKHU DQG FROOHDJXH 'RJDUD DV \RX DUH EHVWRZHG ZLWK WKH +RQ <DNXEX 'RJDUD &RPPDQGHU RI WKH 2UGHU RI WKH )HGHUDO 5HS EOLF &)5 &RPPDQGHU RI WKH 2UGHU RI WKH )HGHUDO 5HSXEOLF E\ +LV ([FHOOHQF\ 3UHVLGHQW 0XKDPPDGX %XKDUL *&)5 7KLV SUHVWLJLRXV QDWLRQDO KRQRXU DQ DFNQRZOHGJPHQW RI \RXU FRQWULEXWLRQV WR VWUHQJWKHQLQJ 1LJHULD·V GHPRFUDF\ LV ZHOO GHVHUYHG

6LJQHG

03 2OXZROH 2NH 2ERNXQ 2ULDGH )HGHUDO &RQVWLWXHQF\ 2VXQ VWDWH &KDLUPDQ 3XEOLF $FFRXQWV &RPPLWWHH +RXVH RI 5HSUHVHQWDWLYHV 1DWLRQDO $VVHPEO\

BXV

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

+($57< )(/,&,7$7,21 7 KLV LV WR UHMRLFH DQG IHOLFLWDWH ZLWK + L V ( [ F H O O H Q F \ * R Y H U Q R U ,)($1<, $57+85 2.2:$ RQ WKH PHULWRULRXV 1DWLRQDO +RQRXU RI &RPPDQGHU RI WKH 2UGHU RI WKH 1LJHU &21 FRQIHUUHG RQ KLP E\ WKH 3UHVLGHQW &RPPDQGHU ,Q &KLHI RI WKH $UPHG IRUFHV RI 7KH )HGHUDO 5HSEOLF RI 1LJHULD 3UHVLGHQW 0XKDPPDGX %XKDUL *&)5

7KLV DZDUG LV DQ DႈUPDWLRQ RI \RX VHOÀHVV VHUYLFH WR WKH 6RFLHW\ DQG KXPDQLW\ DW ODUJH 2QFH DJDLQ FRQJUDWXODWLRQV WR KLV ([FHOOHQF\

+ ( ,)($1<,

$UWKXU

2.2:$ ([HFXWLYH *RYHUQRU 'HOWD 6WDWH DQG 9LFH 3UHVLGHQWLDO &DQGLGDWH 3'3

6LJQHG $EGXOODKL 0XVD %HOOR

&21

BXVI

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

XXXIII

XXXIV

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

XXXV

XXXVI

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

XXXVII

XXXVIII

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

XXXIX

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

XLi

XLii

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

XLiii

XLiV

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

XLV

XLVi

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

XLVii

XLViii

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

XLIX

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

LII

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

LIII

LIV

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

LVI

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

LV i i

LV i i i

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

LiX

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

LXi

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

LXii

LXiii

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

LXiV

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

WEDNESDAY OCTOBER 12 2022•T H I S D AY

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

100

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

101

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

+RQRXU HDUQHG KRQRXU GHVHUYHG 7KH %RDUG DQG 0DQDJHPHQW RI &KULVQDN *URXS RI &RPSDQLHV &KULVQDN MXELODQWO\ FHOHEUDWH ZLWK RXU &KDLUPDQ 'U 6LU &KULV 2 ,JZH RQ KLV FRQIHUPHQW ZLWK WKH KRQRU RI WKH 2IÀ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ÀWWLQJ DSSUHFLDWLRQ RI \RXU LPPHQVH FRQWULEXWLRQV WRZDUGV WR WKH QDWLRQ V JURZWK :H DUH YHU\ FRQÀGHQW WKDW WKH DZDUGV ZLOO IXUWKHU VSXU \RXU HIIRUWV WRZDUGV JUHDWHU DFFRPSOLVKPHQWV 0RUH UHFRJQLWLRQV DZDLW \RX

%QPITCVWNCVKQPU

'U 6LU &KULV 2 ,JZH

6LJQHG 0DQDJHPHQW

102

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

103

104

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

105

106

WEDNESDAY OCTOBER 12, 2022 • T H I S D AY

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

107

108

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

SUSTAINABILITY FOR ECONOMIC PROSPERITY... L-R: President, Federation of Accountants (IFAC), Olam Johnson; President, Institute of Chartered Accountant of Nigeria (ICAN), Tijjani Isa Musa, and Representative of the Minister of Finance Budget and PHOTO: KINGSLEY ADEBOYE National Planning Mrs. Sarah Alade, during the 52nd annual accountants conference held in Abuja... yesterday

FG Issues Lagos Approval Letter on Proposed Lekki-Epe International Airport Segun James The federal government approval recently granted the Lagos State Government to embark on the development of a passenger and cargo airport on the Lekki-Epe axis of the State has been officially presented. Governor Babajide Sanwo-Olu yesterday received the federal government’s instrument authorising the state to commence the airport project. The Minister for Aviation, Sen. Hadi Sirika, presented the document to the Governor on behalf of President Muhammadu Buhari at the ongoing Lagos Economic Summit (Ehingbeti) 2022 taking place at Eko Hotels and Suites, Victoria Island. Lagos Government initiated the aviation project, through a Public Private Partnership (PPP), in response to the pace of development on Lekki-Epe axis, which is now a fast-growing hub of commerce and industrial activities. The entire airport infrastructure will be sited on 3,500 hectares, with the first phase of the project estimated to cost $900 million. Some private consortia have already expressed their interests in developing the airport, but Lagos government was yet to decide on which investors to partner on aviation infrastructure. Sanwo-Olu described the approval as another, “successful step

forward” towards delivering his administration’s agenda of Greater Lagos and keeping the State on the path of irreversible economic prosperity. The governor said the development was a triumph for the vision of the All Progressives Congress (APC) presidential candidate, Bola Ahmed Tinubu, who initiated the Lagos Economic Summit where the idea of the airport started. He said: “Granting the licence for the airport project is a right step in the right direction. For us, it is all about partnership for the greater good of our State. The real beneficiaries are the citizens and the businesses that will be using the infrastructure to activate more economic prosperity. “We are bringing the government to tap business opportunities, while also providing platforms for businesses to flourish. That is how great economies are developed. “The foundation of growth is building requisite infrastructure and creating platforms for businesses to thrive. This aviation infrastructure will reduce journey time and make commercial hubs in Lagos easily accessible. It would help investors to make best local and international business decisions, given all the investments that have been brought to the Lekki Free Trade Zone.” Sirika said the federal mandate to Lagos Government on the airport project enjoyed accelerated approval,

because of the growing need to further link Lagos and the southwest to international markets and regional trade. The project, the Aviation minister said, would transform the GDP of Lagos and create jobs for the national economy. He said the airport would complement the existing Murtala Muhammed International Airport whose operation is overstretched. “There has been an expansion in Lagos, from Eko Atlantic City to Lekki Free Trade Zones. This growth necessitated the need for another airport in Lagos. We will deploy our statutory agencies to ensure the project is done in compliance with international standards,” Sirika said. Declaring the two-day summit open, Sanwo-Olu said Lagos had begun its race to building a prosperous future with the introduction of a 30-year growth plan that would bring the State on the same pedestal with developed cities in 2052. He said the government’s pathways to the future were planned based on the projection of creating and implementing localised solutions within the context of unique socio-economic realities facing the State. Sanwo-Olu said the state would have an allowance to look outside for inspiration, but stressed that all suggested ideas must be considered on the foundation of deep local context and adaptation. He said: “Over the next two

days, we will listen to policymakers, thought-leaders, futurists, disruptors, innovators, investors, and economists among others; all united by an abiding focus on the development trajectory of Lagos. “They will share insights and offer perspectives on Lagos’ pathways to the future, most especially the solutions that can be readily implemented within the context of our unique circumstances. Indeed, the emphasis on ‘home-grown’ and localised solutions is very

The Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo yesterday highlighted the need to specify measures to be taken to avoid and curtail trade injuries in the proposed National Trade Policy. The minister also described the ongoing review of Nigeria's Trade Policy by his ministry as one of the legacies of the President Muhammadu Buhari administration. Speaking while receiving a draft copy of the revised trade policy in Abuja, Adebayo noted that since the extant trade policy was promulgated in 2002, both Nigeria and the world have witnessed major developments including the explosion of ecommerce and digital payments,

the agreement establishing the African Continental Free Trade Area (AfCFTA) agreement and the withdrawal of the United Kingdom from the European Union (Brexit). He added that the African Growth and Opportunity Act (AGOA) was just in its second year, pointing out that the development necessitated a review of the policy. Reacting to the content of the draft policy as presented by the Trade Policy of Nigeria Review committee (TPNRC), the minister, who expressed satisfaction with the document, however, made some observations. According to him, there was need to specify measures to be taken to avoid and curtail trade injuries, adding that security remained an important complementing policy for trade.

He said, “We cannot have optimal trade without security.” Adebayo noted that international players who are interested in trading with Nigeria will need the reassurance of fairness. He adding: “Therefore, we should address non-discriminatory aspects of this policy.” He also stressed the need to highlight trade facilitation, especially with respect to customs, airports, sea ports, and transit. Adebayo said, "Earlier this year, the National Bureau of Statistics reported that Nigeria recorded a N3.2 trillion trade surplus between January and June 2022. This is an indicator of a positive trade balance where exports outweigh imports. “In fact, the World Bank reports that trade contributes about 34 per cent of Nigeria’s GDP. While

governance. The summit chairperson and Partner, PwC Nigeria, Mrs. Mary Iwelumo, said the ongoing event, which was the 9th edition in the series, recorded historic participation of 30,000 participants within the country and overseas. The summit attendees include members of the State Executive Council, current and past elected public office holders in Lagos, captains of industry, business leaders, diplomats, entrepreneurs and investors.

Financial Sector Operators Seek Effective Reward System to Check Brain Drain Inflation worsens rate of loan service default Ndubuisi Francis in Abuja Determined to halt the increasing exodus of talents from the banking and finance sector of the economy, concerned industry players are devising potent measures to stem the tide through effective reward system, among others. Banks and other financial sector operators had in recent months seen many of their experienced talents especially in the area of software engineering either leaving

Minister Seeks Measures to Curtail Trade Injuries in New Policy Thrust James Emejo in Abuja

important.” The Commissioner for Economic Planning and Budget, Sam Egube, said the summit had offered Lagos a better deal in growth prospects, as the State harnessed robust conversations with key private sector players. Egube said the state government had implemented 210 of the 222 resolutions reached in the past eight editions of the economic summit, adding that the engagement with the private sector had helped improve accountability in

these figures are very encouraging, there is a lot we can do especially with the commencement of trading under the AfCFTA. “In order to take advantage of this potential $3.4 trillion market, the first step is to instil confidence in traders through the approval and implementation of an up-todate trade policy," he said. He called on the committee to incorporate his suggestions as part of the stakeholder engagements leading to the finalization of the policy. Chairman of TPNRC, Prof. Mike Kwanashie said the review of the trade policy was carried out in accordance with global practices, stressing that since the document was put in place in 2002, the economy has witnessed a lot of changes necessitating a review of the document.

the industry or jetting out of the country to seek greener pastures or escape from the growing security challenges. However, in an interview with THISDAY, the Managing Director/ Chief Executive Officer of AG Mortgage Bank Plc, Mr. Ngozi Anyogu explained that although the issue of increasing exodus of talents from the financial system was of concern, it was being addressed. Anyogu told THISDAY on the sidelines of the recently-concluded 15th annual banking and finance conference, in Abuja, that the issue of mass exodus of talents in the finacial sector was extensively deliberated upon at the conference with solutions proffered. Anyogu, who presides over one of the top mortgage banks in the country, stated that part of the measures being taken to retain talents and halt the sector's spate of brain drain was an effective and competitive reward system. On the challenges facing the sector, he said many of them were macroeconomic-induced, and clearly outside the control of the players, citing inflation as one of them. Noting that the rising rate of inflation affects the entire spectrum of the financial sector, the banking expert stated that the mortgage sub-sector which AG Mortgage Bank Plc is a key player was not spared. According to him, inflation

affects the housing sector because it increases the rate of default in loan services. Giving further insight, he explained: "Loans that were booked two months back go out of the roof and developers find it difficult to meet with their deliverables due to increasing prices in building and labour." Besides, he cited the problem of long-term funding as another pressing challenge, adding that "for the mortgage sub-sector, the issue of long-term funding continues to be a challenge." He stressed that the kind of funds available in the system were not suitable for mortgage. For him, the option was to shift to the capital market to raise funds for real sector services. Anyogu was also quick to point out that the supply side of housing is weak. On specific measures his organisation embarked upon to build staff capacity, he disclosed that the bank entered into a capacity building cooperation with the Financial Institutions Training Centre (FITC) as well as similar arrangements with the Lagos Business School (LBS). Reflecting on the banking conference, Anyogu said it provided a forum for the financial sector to be able to further reach out to the millennial segment where the market is, adding that the sector now provides more digital services.

109

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

ON-GOING ANNUAL MEETINGS OF THE IMF/WORLD BANK GROUP IN WASHINGTON DC... L-R: Permanent Secretary’ Ministry of Finance Aliyu Ahmed, Minister of Finance, Zainab Ahmed, Governor, Central Bank of Nigeria, Godwin Emeﬁele, Deputy Governor, Economic Policy, Central Bank of Nigeria , Dr Kingsley Obiora and Director, Monetary Policy Central Bank of Nigeria, Dr Hassan Mahmud at the on-going Annual Meetings of the International Monetary Fund and World Bank Group in Washington DC... yesterday

Dangote: Our Acquisition of Obajana Cement Plant Followed Due Process

Says Obajana Cement was incorporated in 1992 and as at 2002 had no paid up shares Declares Kogi State had no equity interest in Obajana Cement Plant, machinery were conceived, designed, procured, built, and paid for solely by DIL, well after it acquired the shares in Obajana Cement, Dangote insists Taxes paid to Kogi govt yearly since production commenced in 2007 Company’s support in Kogi massive, impactful, host communities say Oluchi Chibuzor and Ibrahim Oyewale in Lokoja Dangote Industries Limited (DIL) has insisted that its acquisition

of the Obajana Cement Plc in 2002 followed due process, contrary to claims by the Kogi State government. The conglomerate asserted that

Kogi State government has no equity interest in Obajana Cement Plc. It also stated that the company as a responsible corporate organ-

isation has been paying relevant state taxes, levies and charges to the Kogi State government since 2007 when production commenced in the acquired cement plant.

Marketers Express Frustrations as FG Dilly-dallies with Petrol Subsidy Removal Want next Nigerian president to prioritise economic growth Peter Uzoho Petroleum products marketers in Nigeria have for the umpteenth time expressed frustrations and concern over the federal government's continuous delay in the removal of petrol subsidy and total deregulation of the downstream sector of the oil and gas industry. Some of the marketers, who spoke to THISDAY, yesterday, said the delay in ending the wasteful petrol subsidy which had contributed in bleeding the economy and killing investor confidence and competition in the downstream sector was unnecessary and unsustainable. They also demanded that the next president of the country must put strong priority on retooling the economy from the decline by initiating and implementing positive policies that would engender national economic growth. The marketers said even before the Petroleum Industry Act (PIA) 2021 approved the deregulation of the sector as part of the reforms in the nation's petroleum sector, the payment of subsidy for imported petrol should have been jettisoned long ago. The government had early this year postponed by 18 months -till June 2023, the initial plan to ditch fuel subsidy. President Muhammadu Buhari while presenting the N20 trillion 2023 budget before the joint session of the National Assembly last week had restated that petrol would be removed in 2023, but kept silent on the exact month. Owing to this, the immediate-past

Chairman of the Major Oil Marketers Association of Nigeria (MOMAN), Mr. Tunji Oyebanji told THISDAY that the delay in discarding subsidy has made life complicated for them and their business. Adding that the choice was the government's to make in the matter, Oyebanji said the industry was waiting for government to finally decide to remove it. He noted that they, the downstream players had been making efforts in preparation for the deregulation of the sector as approved by the PIA. Oyebanji said, "Even if I'm worried from now till forever, if goverment doesn't take action, unfortunately, it's not within my power or the industry. It's government's decision. So, we have to wait until they decide to do what they want to do. "We have always been making efforts in preparation for the deregulation of the sector. When the PIB was passed, the plan was to deregulate the downstream and we really geared up to it. "In fact, the delay has made life a bit complicated for us because we thought we would have proceeded by now. We had been prepared all along, we had organised ourselves to fully compete. But that hasn't happened." On the current petrol scarcity in Abuja, caused by massive flooding in Lokoja, Kogi State, which hampered the movement of petroleum bearing trucks to the nation's seat of power and the north, he said the situation has got a lot of trucks stuck on the road.

He also advocated that the next president of Nigeria come 2023 must prioritise the reshaping of not only the oil and gas industry but the entire economy by initiating and implementing positive policies that would engender national economic growth. "Not just for the industry alone but for the economy as a whole. I think given the economy the shape it requires should be the priority of whoever that emerges the next president of Nigeria. So, we look

forward to some positive policy actions that will grow not just the oil industry but also the economy as a whole", Oyebanji canvassed. Another marketer affiliated to the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), who pleaded anonymity, told THISDAY that they became worried with the way government was handling the petrol subsidy removal and total deregulation of the downstream sector when it was postponed.

These clarifications were contained in a statement issued by the management of Dangote Industries Limited titled ‘Obajana Cement Plant: Separating Facts from Fiction.’ Kogi State government had last Wednesday sealed Dangote Cement’s factory located in Obajana over alleged tax evasion and equity ownership in an exercise that several staff of the Dangote Cement were pelted with gun bullets. This had prompted the federal government to wade into the raging dispute between the state government and Dangote Group, with some concerned stakeholders urging both parties to resolve the dispute amicably so as not to discourage potential investors. However, Dangote explained that the statement it issued yesterday was for the sole purpose of addressing the concerns and apprehensions of stakeholders of Dangote Cement Plc (DCP), especially the over 22,000 people it employs directly, and more

indirectly, as well as thousands of contractors, wholesalers, users of the products, its financiers and shareholders. It pointed out that at a time of significant economic challenges, “that we face as a nation, we believe all must be done to keep our economy running effectively, our people employed, businesses that depend on us thriving and not discourage those who take the risks of needed, lawful and significant investments in our economy. The shutdown of our plant has materially jeopardised the economic wellbeing of our country without any regard for its significant consequences. “Whilst reserving our rights to proceed to arbitration in accordance with the extant agreement, we have reported the unlawful invasion by KSG and the consequential adverse effects of same to all the relevant authorities, including the Federal Government of Nigeria who has Continued on page 112

Revenue Allocation: Lawmakers Investigate Data Accuracy by States, LGs Provided to RMAFC Udora Orizu in Abuja The House of Representatives has mandated its Committee on Finance to investigate the accuracy of data provided to the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) by the 36 states and 774 Local Government Areas of the federation that was used to compute the revenue allocation. This includes the 13 per cent derivation from 2012 to 2021 and the current nature of maintenance of this data. The Committee is also to unravel the indices computed for each of the 36 states and 774 Lags by RMAFC from 2021 to 2021 that were transmitted to the Accountant General of the Federation for revenue disbursement to the states

from 2012 to 2021 including the parameters utilized to compute the indices. In addition, members of the Committee are to find out the indices utilised by the Accountant General of the Federation for revenue disbursement to the 36 states and 774 Local Government Areas and the actual amounts disbursed to them from the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance. The lawmakers would further look into the violation or otherwise by the Federal Ministry of Finance, CBN and other members of the FAAC in the administration of the federation account considering provisions of Section 162(3)(4)(5) and (7) of the 1999 Constitution (as amended) and report back within 8 weeks for further legislative action.

The resolutions of the lawmakers were sequel to the adoption of a motion sponsored by Hon. Mark Gbillah at plenary yesterday. Moving the motion, Gbillah noted that the Commission was responsible for the provision of a horizontal and vertical revenue allocation formula, the collection, verification, maintenance and usage of data utilized for the computation of indices for disbursement of revenue from the federation account. He expressed concern about Nigeria's current utilisation of the same vertical and horizontal revenue allocation formula and allocation principles instituted during a military regime three decades ago in 1992 when 6 States and 185 Local Government Areas were created and Nigeria's

population rose from 88 million to over 200 million, and the current national clamour for restructuring, devolution of powers and true federalism amid the obvious changing realities of insecurity and socio-economic hardships across the country. Furthermore, he expressed concerns that RMAFC's new proposal to the President in April 2022 for a revenue allocation formula was for vertical revenue allocation alone and was alleged to have utilised the over 30 years old allocation principles and recent data that is inaccurate and unverified with no consideration being made at the moment for the more contentious horizontal allocation formula which determines the actual impact on the lives of Nigerians in the federating units.

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

110

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

111

112

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͺ ˾ T H I S D AY

ONE HUNDRED AND TWELVE

IMF Foresees Easing in Nigeria’s Inﬂation, Seeks Stronger Fiscal, Monetary Policies Harmonisation Advises CBN, others to deploy traditional tools to fight raging inflation Creates ‘Food Shock Window’ to cushion effects of elevated food prices Obinna Chima, Eromosele Abiodun and Nume Ekeghe in Washington DC The International Monetary Fund (IMF) has predicted that Nigeria’s consumer price index (CPI) which measures inflation in the country would commence deceleration before the end of the year. The Fund also advised the Central Bank of Nigeria (CBN) and other monetary policy authorities to continue to adopt traditional tools in fighting galloping inflation which has remained a concern to policy makers across the globe. In addition, the Washington-based institution called for stronger fiscal and monetary policy collaboration to cage inflation in Nigeria. Responding to a THISDAY question during a media briefing on the World Economic Outlook (WEO) at the ongoing IMF/World Bank Annual Meetings in Washington, the Divisional Chief Research Depart-

ment, Daniel Leigh said: “For Nigeria, in particular, we forecast inflation at about 19 per cent this year, but then some moderation next year down to 17 per cent, and part of that does reflect the monetary policy actions by Nigeria's Central Bank as well as the decline that we expect in oil and food prices globally.” Inflation in Nigeria is presently at 20.52 per cent. The CBN had last month raised the Monetary Policy Rate (MPR), otherwise known as interest rate, by 150 basis points, to 15.5 per cent from 14 per cent. The CBN had also raised banks’ Cash Reserve Requirement (CRR) by 750 basis points to a minimum of 32.5 per cent, from 27.5 per cent, in order to mop up liquidity from banks’ vaults and discourage currency speculation. Also commenting on the best approach for the CBN and other central banks in Africa to fight inflation, the Chief Economist and Director Research Department IMF,

Pierre-Olivier Gourinchas said: “Our advice, in general, is that central banks should first start with the traditional instruments of monetary policy and as you want to think about non-conventional instruments then you should think about what is the friction that is preventing the conventional monetary policy from working it will require a country or a central bank to deploy alternative ways of charting a course for monetary policy.” The fund also revealed that to cushion the elevated hike in food prices globally, it has introduced what it described as a Food Shock Window, which would allow a number of countries to access emergency approved a new Food Shock Window under its emergency financing instruments. This new window would be available for a year to provide additional access to emergency financing for countries facing urgent balance-of-payment need related to

the global food crisis. The IMF explained that the Food Shock Window would provide, for a period of a year, a new channel for emergency Fund financing to member countries, “that have urgent balance of payment needs due to acute food insecurity, a sharp increase in their food import bill, or a shock to their cereal exports. “Access will be consistent with the actual balance of payments needs, and capped at 50 percent of quota, and will be additional to the current annual access limits under the RCF/RFI. “The cumulative access limits under the RFI regular window and the RCF exogenous shock window, currently at 150 percent of quota, will be increased to 175 percent of quota for members that will borrow through the FSW. A review is planned by the end of June 2023.financing to deal precisely with elevated food prices,” it explained in a separate statement.

Speaking further on low-income countries that had been affected by the rise in food prices, Gourinchas said: ““Of late, food prices started to turn around and come down. There had been some positive developments, for instance, the Black Sea Green Deal that was implemented over the summer that allowed the exports of Ukraine wheat and some of the increases you've seen in the last few days reflect some uncertainty maybe about the continuation of the deal given the situation in Ukraine. “The fund has just opened its Food Shock Window, which allows a number of countries to access emergency financing to deal precisely with elevated food prices. And so, this has just started. We expect a number of countries will be able to access funding through that new facility that is part of the emergency funding we have.” Meanwhile, in a separate briefing on the ‘Global Financial Stability Report,’ the Director Monetary

and Capital Markets Department, IMF, Tobias Adrian, stressed the need for fiscal and monetary policies to work hand in hand towards reigning in inflation as well as promoting inclusive and sustainable growth. Adrian said: “Food prices and commodity prices have hit many sub-Saharan African countries very hard as most of the countries are importers of food. “In particular, this comes on top of the previous crisis. The COVID-19 crisis is already in Sub-Saharan Africa and now we have this rise in commodity prices and of course, the tightening of global financial conditions that we already discussed. “So many countries are already in debt distress or close to debt with high vulnerabilities. You know, addressing those debt issues is very high and that has triggered a tightening of monetary policy.” There's a variety of shades across countries, but is certainly also thought to contain inflationary pressures.”

DA N G OT E : O U R A C Q U I S I T I O N O F O B A J A N A C E M E N T P L A N T F O L LO W E D D U E P R O C E S S now intervened in the matter. “It is hoped that the dispute resolution process we have initiated will quickly resolve the disputes and allow us to focus on our business without distraction and continue our significant contribution to our national economy. It is in this context that we state in brief as follows”, the company added. According to the statement, the Obajana Cement Plant was one of the most critical components of economic activity in the nation, being one of the highest taxpayers, and vehicle for one of the largest companies invested in by thousands of Nigerian and foreign investors. It noted that the company’s most important assets were its land, the plant and machinery thereon, and the vast limestone deposit covered by mining leases issued under licence by the federal government. The company clarified that the land on which Obajana Cement Plant was built was solely acquired by Dangote Industries Limited (DIL) in 2003. "The land on which the Obajana Cement Plant is built was acquired solely by Dangote Industries Limited (DIL) in 2003, well after it had acquired the shares in Obajana Cement Company in 2002, following the legally binding agreement it entered into with KSG to invest in Kogi State. DIL was issued three Certificates of Occupancy in its name after payment of necessary fees and compensation to landowners. "The plant and machinery were conceived, designed, procured, built, and paid for solely by DIL, again, well after it acquired the shares in Obajana Cement Company. The limestone and other minerals used by the Obajana Cement Plant, by the provisions of the Nigerian Constitution belonged to the Federation, with authority only in the FGN and not the State in which the minerals are situated, to grant licences to extract and mine the resources”, the company explained. "After the agreement with the KSG, DIL applied for and obtained mining leases over the said limestone from FGN, at its cost and has complied with the terms of the leases since inception. The Government of Kogi State had no minerals to give, had no assets to give, and only invited DIL as most responsible governments do to come into the State and invest in a manner that will create employment, develop the State, and earn it taxes", the statement added. In a section of the statement titled, ‘The Incorporation of OCP

and the Invitation by KSG’, the company noted that, “In 1992, the Kogi State Government incorporated Obajana Cement PLC (OCP) as a public limited liability company. Sometime in early 2002, about 10 years after the incorporation of the OCP (which still had no assets or operations as of that time), KSG invited Dangote Industries Limited (DIL) to take the opportunity of the significant limestone deposit in the State by establishing a cement plant in the state. “Following several engagements and assessment of the viability of the proposed opportunity, DIL agreed that it would establish a cement plant in Kogi State and provide the entirety of the substantial capital required for the investment. “DIL also agreed, following a specific request by KSG, to use the OCP name (albeit only existing on paper as of that time, and without any assets or operations) for the time being, as the vehicle for this investment. “On July 30, 2002, KSG and DIL entered into a binding agreement to document their understanding. The agreement was amended in 2003 and remains binding on, and legally enforceable by, the parties to same,” the statement explained. On the issue of an agreement between Dangote and Kogi State Government, the statement gave a summary. It noted that "it was agreed, inter alia, that: DIL would establish a cement plant with a capacity of 3,500,000 metric tonnes per annum; DIL shall hold 100% of the shareholding in OCP, and source for all the funds required to develop the cement plant; KSG shall have the option to acquire five per cent equity shareholding in OCP within 5 years; and KSG shall grant tax relief and exemption from levies and other charges by KSG for a period of seven years from the date of commencement of production." "Consistent with the terms of agreement, DIL sourced for 100% of the funds that was used to develop the plant without any contribution from KSG. In line with its rights, ensuring alignment with the Dangote Brand, as part of internal restructuring and for better market recognition the name of OCP was changed to Dangote Cement Plc in 2010, and a number of other significant cement companies (such as the Benue Cement Company) owned by DIL were merged with OCP to become the enlarged Dangote Cement Plc", the statement added. On the issues of ‘Execution

of the Agreement: The Plant, Taxes, Shares & Dividends’, the statement noted, "DIL assiduously and at significant cost met all the terms of the agreement between it and KSG in relation to OCP. It built the cement factory, much bigger and better than envisaged. “KSG could not meet its financial obligations of contributing to the funding the plant in any form; neither could KSG fund acquisition of five per cent equity shares in OCP when it was asked on a number of occasions to exercise the purchase option. “KSG also did not meet its obligations to grant waiver of taxes, charges and levies that it could charge the operations, affairs and activities of OCP. Rather despite being entitled (under the terms of the agreement with KSG) to tax relief and exemption from charges and levies by KSG for a period of seven years from the date of commencement of production, OCP (and now DCP) has paid all due sub-sovereign taxes, levies and charges to KSG since it commenced production in 2007. "KSG does not have any form of investment or equity stake in OCP, so no dividend or other economic and/or shareholding rights whatsoever could have accrued to it from the operations of the company”, the statement added. On the issue of the Acquisition of the Plant Site, the statement noted that, “After the agreement between DIL and KSG in 2002, DIL in 2003, applied to KSG for the acquisition of land for the plant site, and this application was granted with the issuance of three Certificates of Occupancy to DIL. “DIL to the knowledge of KSG, paid substantive compensation to Obajana Farmland Owners located within the two square kilometres plant site. “Subsequently, in September 2004, DIL, in good faith, applied to the State Governor for the statutory consent for DIL to assign the plant site to OCP being DIL’s investment vehicle. This consent request was granted by the State Governor and the appropriate consent fees were paid by DIL,” it added. Shedding more light on the company’s engagement with Kogi State Government, the statement explained that, “The investment of DIL in Kogi State through OCP was at the instance of the duly constituted government of Kogi State, done in accordance with the law of the State and all enabling laws in that regard, and the transaction documents were effectively, lawfully and duly executed by the Governor

and Attorney General of the State (at the time), after internal approvals were obtained within the government. “Since the inception of Alhaji Yahaya Bello’s administration in 2016, and regardless that government is a continuum, we have had series of enquiries about the ownership structure of the Dangote Cement Plc as it relates to the alleged interest of KSG; and had several engagements with the officers of the State government including Governor Yahaya Bello. At all of these engagements we have provided all the details and information supported by relevant documents, required by the Government and the State House of Assembly to confirm our lawful investment. “For instance, in 2017, we were invited by the Judicial Commission of Inquiry, and we made our submission to the commission with relevant documents to support our position. “We are yet to receive any feedback from the Judicial Commission of Inquiry. While still waiting to hear of the report of the Inquiry, we were invited by the State House of Assembly on the same matter earlier this year, and again, we provided evidence in support of our position that KSG does not have any equity or other interest in OCP or DCP.” It added: “On Wednesday, October 5, 2022, hundreds of dangerously armed men, other than law enforcement officers, attacked our cement plant in Obajana, Kogi State, destroyed our property, inflicted grievous injuries on many of our employees, and shutdown operations at the plant. KSG has admitted that the armed invaders acted on its instructions, and in furtherance of the recent enquiry by the Kogi State House of Assembly in connection with the ownership of the Obajana Cement Plant. “Curiously, on 6 October 2022, a day after the shutdown of our facility in Obajana on the orders of KSG, Governor Bello addressed the public and announced that a Specialised Technical Committee which was set up as part of the recommendations of the Judicial Commission of Inquiry had just presented its recommendations, which have been accepted by KSG. This statement makes it abundantly clear that the shutdown of DCP’s plant occurred regardless of the Governor’s own confirmation that implementation of the recommendations of the Specialised Technical Committee was still pending,” the statement noted. Focusing on the current state of play, the company said, “Whilst we do not want to speculate on

the motivation for the spurious claims being made by KSG in relation to the ownership of the Company, which have resulted in the unfortunate unlawful forcible closure and damage of our plant, and injury of several people, we condemn in strongest possible terms, the unlawful shutdown of our plant by KSG sponsored armed-thugs, the damage to our property (including the looting of large sum of money kept in the office), and grievous injury inflicted on our employees by them. "This disruption of operations at the plant has caused loss of revenue not only to our company and its customers but has also adversely impacted revenue due to both the federal and state governments. It has also occasioned loss of jobs for the teeming youths who are daily paid workers that throng our plant for their daily sustenance.” Appealing for overall peace and calm, the statement noted, “We implore all our stakeholders, namely shareholders, customers, suppliers, employees, and the entire community of Obajana and Kogi State at large to remain calm while we follow the legitimate and lawful process to resolve this matter. “We shall keep our stakeholders duly updated whilst we remain confident that the statutory and contractual rights of DIL shall be upheld by these legal processes which we have initiated.”

Company’s support in Kogi massive, impactful, host communities say

Meanwhile, despite the current face-off between Kogi State and Dangote group, the beneficiaries of the intervention schemes of the Dangote Cement, Obajana Plant have described the support by the company as massive and impactful. This was contained a statement made available to journalists in Lokoja yesterday. The schemes, according to the leaders of the communities and informed sources run into several billions of naira. A recent report from an independent vox populi to gauge the level of intervention had confirmed that the company enjoys robust relations with host communities, and had just signed a workable Community Development Agreement (CDA). Respondents from the survey spoke glowingly of the multimillion health facility at Iwaa Community built by the DCP Obajana. The company added: “The contribution of the company to the development of the state are too numerous to list. Is it the job opportunities created? Is it the support in health sector,

road infrastructure, education, financial empowerment, and rural electrification?” The Dangote Cement Plc had just recently completed a well-furnished multi-million naira hospital at Iwaa, and as well completed the multi-billion naira Nigeria’s longest concrete road between Obajana and Kabba, a statement from the company disclosed. “These twin interventions have really supported both the state and the federal government in the areas of health and road infrastructure,” the statement added. The company said most of the CSR schemes were contained in the mutually agreed Community Development Agreement (CDA). Also, the Dangote Group is building a multi-million naira skill acquisition centre in Lokoja. When completed, a source said, it would provide the requisite skills and thus empower the youth to be productive and contribute to the economic development of the state. Members of the communities who spoke during the survey said the Obajana-Kabba concrete road has greatly eased mobility, while describing it as the most important road in the state.

During the 2012 ﬂood, the company had contributed N430 million.

During the signing ceremony of the latest CDA, the mining communities spoke glowingly of the company, while expressing their appreciation and the smooth relation. As part of its CSR in Kogi State, Dangote Cement had doled out several millions of naira to cooperative groups in the four communities. The traditional leader spoke glowingly of Alhaji Aliko Dangote, describing him as God’s sent, adding that his contribution to the people of Kogi State could not be quantified. The statement said the company supported the state in building magistrate court and judges residences in the state. Other areas of interventions in the communities are: the construction of numerous boreholes, granting of yearly scholarship, electric power supply communities, employment opportunities, building of schools, library construction, supply of modern furniture to schools and rehabilitations of internal roads. The company had donated tricycles to its host communities to enhance their capacity to connect each other with less stress. The beneficiary communities are: Obajana, Apata, Iwaa and Oyo.

113

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

CONFERMENT OF NATIONAL HONOURS... L-R: Akarigbo of Remoland, Oba Babatunde Ajayi - CFR Award recipient; Ogun State Governor, Prince Dapo Abiodun and the Senate Chairman, Commitee on Finance and Senatorial candidate of the All Progressives Congress in Ogun West, Senator Olalemilekan Adeola, CON award recipient during the conferment of National Honours of distinguished Nigerians in Abuja…yesterday

EFCC Slams Money Laundering Charge on Former Lagos Attorney General, Shasore To be arraigned October 20 Wale Igbintade The Economic and Financial Crimes Commission (EFCC) has filed a four-count money laundering charge against a former Lagos State Attorney General and Commissioner for Justice, Mr. Olasupo Shasore accusing him of inducing one Olufolakemi Adetore to accept cash payment of the sum of $100, 000. 00, without going through the financial institutions. In the EFCC charge sheet marked FHC/1/447c/22 sighted by THISDAY, the former Attorney General was alleged to have made cash payment of $100,000 to Olufolakemi Adelore through Auwalu Habu and Wole Aboderin. He was alleged to have committed the offences on or about November 18, 2014. The charge was filed before the Federal High Court in Lagos on August 12, 2022, by EFCC counsel, Bala Sanga and others. Shasore was the Lagos State' Attorney-General and Commissioner for Justice during Mr. Babatunde Raji Fashola led-government. The charge also alleged that the former Lagos State's AttorneyGeneral made cash payment of the sum of $100, 000.00 USD, to one Ikechukwu Oguine without going through a financial institution. The offences contravened sections 78(c); 1(a) and 16(1)(d) and 18(c) of

the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under section 16(6) and 16 (2)(b) of the same Act. Meanwhile, the arraignment of the former Lagos State AttorneyGeneral and Justice Commissioner, has fixed for October 20. The charges read: "That you Olasupo Shasore on about the 18th day f November, 2014 in Lagos within the jurisdiction of this Honourable Court induced Olufolakemi Adelore to commit an offence, to wit accepting cash payment of the sum of US100, 000.00 (One Hundred Thousand United States Dollars) without going through a financial institution which such exceeded the amount authorized by Law and you thereby committed an offence contrary to section 78(c) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under section 16(6) of the same Act. "That you Olasupo Shasore, SAN on or about the 18th day of November, 2014 in Lagos within the jurisdiction of this Honourable Court, in a transaction without going through a financial institution, made cash payment of the sum of USD 100, 000.00 (One Hundred Thousand United States Dollars) to Olufolakemi Adelore through Auwalu Habu and Wole Aboderin which sum exceeded the amount permitted by Law and y u thereby

committed an offence contrary to sections 1(a) and 16(1)(d) the Money Laundering(Prohibition) Act, 2011 (as Amended) and punishable under section 16(2) (b) of the same Act. "That you Olasupo Shasore, SAN, on or about the 18th November, 2014 in Lagos within the jurisdiction of this honourable Court, induced

one Ikechukwu Oguine, to commit an offence, to wit: accepting case payment of the sum of USD100, 000. 00 (One Hundred thousand United States Dollars) without going through a financial institutions, which such amount exceeded the amount permitted by Law and you are thereby committed an offence contrary to Section 18(c)

In response to the current moves by the Bayelsa State Government, the Senate and other vested interests pushing for the revocation of the Atala marginal field, formerly Oil Mining Lease (OML) 46, the current owner and operator of the asset, Halkin Exploration and Production Limited has said it remained the rightful owner and operator of the oilfield. The company said it was currently working to bring the field to full production in a matter of months having invested millions of dollars in development of the asset and in touching the lives of the host communities, warning that it must not be distracted from its focus. Addressing a press conference

in Lagos, yesterday, the Director of Communications, Halkin, Mr. Osagie Amusa-Eke, said the recent news making the rounds about the asset contained only a one-sided story, asserting that the facts of the matter were distorted. A few days ago, Governor Duole Diri of Bayelsa, who was accompanied by his predecessor, Senator Seriake Dickson amongst others had during their visit to President Muhammadu Buhari had requested the president to restore the OML 46 to the state, which he alleged was unjustly revoked and awarded to a private company. The Senate had also recently, after looking into a petition brought before it by the former co-owner of the oilfield, Hardy Oil Nigeria

000.00 (One Hundred thousand United State Dollars) to one Ikechukwu Oguine which sum exceeded the amount permitted by Law and you thereby committed an offence contrary sections 1(a) and 16(1),(d) of the Money Laundering (Prohibition Act, as amended) and punishable under section 16 (2)(b) of the same Act."

Catholic Church Condemns New Water Resources Bill Says it is against public good

Onyebuchi Ezigbo inAbuja The Catholic Church has opposed the move by some persons to secure the passage of the National Water Resources Bill by the National Assembly. In a statement issued by the legal arm of the Church, the Justice Development & Peace Commission (JDPC), in Abuja, on the National Water Resources Bill, it stated that the move violated the Church’s principle of the common good. The statement signed by Executive Secretary of Caritas Nigeria and JDPC, Revd. Fr. Uchechukwu Obodoechina, said the church was rattled by the implications of the proposed legislation, which has far-reaching effects on the citizenry and violates the Catholic Church’s

principle of the Common Good. "The recent re-introduction of the National Water Resources Bill was poorly received by citizens and interest groups, given its apparent exclusion and non-consideration of states and citizens. “The bill, which was first introduced in 2020, grants the Federal Government direct control over surface and ground waters, and further mandates individuals to obtain a license before they can access water – a natural resource received freely from God to meet man’s needs. Caritas Nigeria, therefore, is rattled by the implications of this legislation, which has far-reaching effects on the citizenry and violates the Catholic Church’s principle of the Common Good," he said. Obodoechina said although

Atala Oilfield: Operator Pushes Back as Bayelsa Govt, Senate, Others Seek Revocation of Licence

Peter Uzoho

of the Money Laundering Act, 2011 (as amended) and punishable under Section 16 (2)(b) Of the same Act. "That you Olasupo Shasore, SAN on or about 18th day of November, 2014 in Lagos, within the jurisdiction of this Honourable Court, without going through a financial institutions and made cash payment of the sum of USD100,

Limited, ordered the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to revoke the Atala field licence and give it back to its former owners. The oil field was formerly owned by the trio of Bayelsa Oil Company Limited (BOCL), Hardy, and Century Exploration and Production Limited (CEPL). But in reaction to the recent developments around the oil asset, Amusa-Eke said as a responsible private company only interested in conducting legitimate business, it was "really unfortunate that Halkin Exploration and Production Limited has found itself distracted by this situation. Today we seek to set the record straight with nothing but the truths and facts of the matter." He explained that the Department

of Petroleum Resources (DPR) now replaced by the NUPRC had in 2003, issued 13 licenses to indigenous oil firms but that on the expiration deadline of 2018, the Atala Field had yet to come into full production. He maintained that following the failure to bring the field into full production, the Atala Field license was then revoked and returned to the basket as approved by President Buhari. According to him, over a year after the license was revoked by the NUPRC, in line with Nigeria’s petroleum laws, Halkin legally applied and was duly awarded the OML 46 to operate, on the condition that the company brought the field into full production and a signature bonus of over $8 million dollars paid to the federal government.

the National Water Resources Bill guarantees citizens the right to use water, it guards against private ownership of water, adding that if signed into law, it would lead to further centralisation of power and the nation’s resources, thereby countering ongoing efforts towards devolution of powers. Furthermore, he said Section 2(1) of the bill, which reads, “All surface water and ground water, wherever it occurs, is a resource common to all people,” had been interpreted as assigning terrestrial water bodies and sources under the control and supervision of the federal government. Similarly, the Church stated that Section 13 of the Bill, states thus: “In implementing the principles under subsection (2) of this section, the institutions established under this Act shall promote integrated water resources management and the coordinated management of land and water resources, surface water and groundwater resources, river basins and adjacent marine and coastal environment and upstream and downstream interests.” According to the Church, the bill, "questions the principles of subsidiarity and inclusion; which states that a higher level of government or organisation should not perform any function or duty that can be handled more effectively at a lower level, while, inclusion emphasises equal access to opportunities and resources for everyone especially, for those who might otherwise be excluded or marginalised." It further said that, "Considering the unarguably significant role that water plays in preventing health risks and ultimately promoting community health, Caritas Nigeria has, over the years, conscientiously provided improved, equal and equitable access to water, sanitation and hygiene (WASH) services for all

citizens for public and household purposes. "Worthy of mention is our productive partnership with individuals, communities and development partners, who selflessly ensure that people, including disadvantaged demographics, have unfettered, sustainable access to water by providing alternative sources of water like hand-pump and solar-powered boreholes. “We, therefore, urge the federal government to retract this legislation and prioritise public health by promoting every means possible for achieving quality water and sanitation services, including private ownership and unrestricted use of water. "While we urge the federal government to retract the Bill, we hereby issue the following recommendations: There is an urgent need for a comprehensive and holistic consultation with citizen groups across the board and states, to ensure that every concerned section of the populace is offered the opportunity to express their concerns about the bill.” Obodoechina said the federal government and the National Assembly should concern themselves with pressing issues of poverty and hunger, unemployment and insecurity that ravage the country rather than promoting contentious and ill-motivated legislation. He also said the principle of federalism should be respected and the rights of states and local governments’ to jurisdictions as it relates to domestic water use and protection must be protected by the federal government. "All Senators and House of Representatives members should rise and protect the rights of citizens, and amplify their freedom to control ancestral resources such as land and water," he said.

114

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

YOUR LEKKI-EPE AIRPORT APPLICATION IS APPROVED... Minister of Aviation, Hadi Sirika (left), presenting the federal government's approval of the development of Lekki-Epe airport to Governor of Lagos State, Babajide Sanwo-Olu, during the opening ceremony of Ehingbeti Lagos Economic Summit 2022 in Lagos...yesterday

Why APC is Shying Away from Buhari's Records, Atiku Campaign Reveals Chuks Okocha in Abuja The Peoples Democratic Party (PDP) Presidential Campaign Council (PCC) said the ruling All Progressives Congress (APC) was running away from campaigning with the supposed achievements of President Muhammadu Buhari because his administration had plunged Nigerians into deeper hunger and poverty. One of the spokespersons of the campaign, Mr Charles Aniagwu, said APC had destroyed virtually all the building blocks of national development erected by PDP prior

to 2015, when the party took over the reins of governance. In a statement yesterday, Aniagwu said the APC presidential candidate, Bola Tinubu, and his handlers were always referring to Lagos in their campaigns, because the party had failed Nigerians on their campaign promises. He lampooned APC for using Lagos as benchmark for their campaign, adding that even Lagos is not functioning well for the citizens. The statement said, "The PDP 16 years record is attractive enough to run on because things were much better in 2015 than they are

now and you could see that those contesting on the platform of the ruling party, APC, are so scared of mentioning their achievements. Each time they talk, they take you to Lagos, a Lagos that is not even functioning well, in the first place. "But on the basis of what we did even in the first 16 years, we don't have to run away from it and I can tell you that we liberalised the telecoms sector, pension reforms, banking consolidation, and setting up a number of institutions to fight corruption, EFCC, ICPC, Due Process Office, and many more. "In that 16 years, we ensured that

Nigerians were united but in the last seven years under the APC, those things that put us together have been so bastardised. We are very proud of running on our records and Atiku Abubakar and his running mate, Dr Ifeanyi Okowa, have seen the many challenges bedevilling the country and they have mapped out strategies to reposition the country to function effectively. "Those who asked for change in 2015, have seen that the change they asked for did not yield the dividends of democracy they so desired and I can assure you that Atiku-Okowa

ASUU NEC Meets Thursday to Decide Fate of Strike Union branches vote today We’re yet to call off action, says association’s president

Onyebuchi Ezigbo in Abuja Embattled Academic Staff Union of Universities (ASUU), has fixed a meeting of its National Executive Council for Thursday to consider the planned call-off of the nine months old strike by lecturers in federal universities across the country. As a prelude to the NEC meeting, THISDAY learnt that ASUU branches would commence the traditional voting today to take a position over the ongoing strike by the union. But the President of ASUU, Emmanuel Osodeke, has said the association has not formally suspended its eight month old industrial action but would arrive at a decision after following due process. THISDAY gathered from a reliable source in one of the universities that the decision of the various branches would be transmitted to the NEC for a final decision on the strike, which may likely be called off after Thursday's meeting. "We have been invited to a meeting of our local branch on Wednesday to be briefed on the outcome of various negotiations, including the interventions by the Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila regarding our demands. We are also expected to take a position based on the issues presented and

to vote on our next line of action, whether to suspend the strike or to uphold it," the source said. When asked if the lecturers were likely going to accept to call off the strike, the source said the suspension of the strike would be the most likely decision but that where the issues presented fell short of expectations, the national officers had vowed to go to jail for contempt of court rather than call the strike off. The source said if the federal government agrees to pay off arrears of salaries and in addition, meets about 60 per cent of their demands, ASUU would suspend the strike. "Yes we are mostly going to end the strike after our meeting, because it has lasted for so long and the students are losing time on their studies," he said. Osodeke, last night, said no such statement on resumption of work by lecturers was issued by ASUU, but that it would hold a press conference to declare its position once the process was concluded. He said a recent report, which alleged suspension of the strike might have been taken from the position of one of the ASUU branches, which has not been ratified by the national body. “That statement can't be correct, because we are not operating a process of top to bottom. We are following our normal process, we start from bottom up, we don't start

from up. "So, that is what we are doing now when we finish the process, we’ll call you. It can't be correct now. We have always followed the process. So, if someone saw what a branch did and report it. “You don't go to report that a branch said we should suspend and you say that ASUU has suspended. But we are following a process and when it is concluded we will make it known to the public formally," said

Osodeke, who spoke exclusively to THISDAY. He further said ASUU was yet to receive a copy of the ruling of the Appeal ordering it to resume work. "And very importantly, we have not got the ruling by the Appeal Court and we only act on ruling and we have not got it. We have applied for the ruling of the Court but we are yet to receive it now. When we get it, we will follow up on it," he said.

will make a difference." The PDP presidential campaign spokesman further took a swipe on the APC for holding a campaign rally on a Sunday morning, describing the move as insensitive. He stated, "I watched with dismay how the APC organised a campaign rally on a Sunday morning in this country, when people are supposed to be worshipping God, they were very busy in Lagos blocking everybody in the name of rally. That was insensitive and it simply tells you clearly that they don't understand the sensibilities of this country. "Just imagine like a man, who wakes up on a Friday afternoon and decides to organise a rally in a place, where people are supposed to pass to the mosque to pray not only for their well-being but for the good of our country. "It tells you that the fears of most Nigerians in respect to their inability to understand the diversity of this country, especially, their decision on same faith ticket is real. If they understand, they will not make that kind of mistake on a Sunday morning." He stated that the PDP would continue to speak to the Nigerian people on the issues plaguing the country and how it intended to provide solutions to them.

According to Aniagwu said. , "What we have come here to do in Uyo is to have an interface with our people, and before the campaign, there was a meeting of leaders of the South-south zone, where they spoke frankly to one another on the challenges facing the party and the country. "Whatever decision reached here to get the country out of its quagmire is a decision based on consensus-building among the different political zones in our country. "What we have done in Uyo and the crowd you saw there is a clear testament to the fact that PDP has moved beyond testing the microphone to raising the sound a notch higher for Nigerians to get clear signals of the solutions we are offering. "The crowd is organic and it shows that we have got the supporters across the country and we have said that we needed to tell Nigerians what we are bringing on board to rescue the country. "The campaign flag-off is another first by the PDP and it is clear that going by the INEC guidelines only PDP is meeting up with the timetable and it is an indication that is the only party that is very much prepared for the challenges ahead.

Group Says APC Focused on 80%Vote Target for Tinubu Victor Ogunje in Ado Ekiti A political body, Jagabanists Nationwide Support Group, rooting for the presidential aspiration of the All Progressives Congress (APC) candidate, Mr. Bola Ahmed Tinubu has declared that no amount of criticisms would distract the ruling party from garnering 80 per cent of total votes cast during the 2023 election for the former Lagos State Governor. The group said the barrage of insults being hurled at Tinubu, by the People's Democratic Party (PDP) and Labour Party (LP) supporters respectively won't derail the party's focus from the set target to ensure that APC wins

with wide margin. The group's National Coordinator, Temitope Omotayo, spoke in Ado Ekiti, yesterday, during a solidarity rally held to mobilise support for Tinubu in Ekiti State. Omotayo posited that Tinubu ranks taller and higher above the duo of Atiku and Obi in their contributions to the Nigeria's democratic growth, exuding confidence that the former Lagos governor would triumph in the 2023 poll. The legal practitioner added that the objective behind the formation of the group was to canvass votes for Tinubu across the 774 local governments and 176,846 units across the country, describing the

insults from opposition as mere "noisemaking." He said the APC won't allow it to neither derail nor distract its focus. Omotayo appealed to Nigerians to vote for a man, who has rich and intimidating political and administrative credentials, rather than playing into the hands of those he described as, "neophytes and inexperienced," that would only turn the running of the nation into "trial and error." He said: "We have been following his political life and antecedents, especially how he contributed to the nation building from the NADECO era. We are not going to engage the opposition at

the pedestrian level. We are only focused on our major goal, which is winning the presidency. "This man, Ahmed Bola Tinubu, has all his businesses here in Nigeria. He has mentored and developed many politicians, leaders and youth. We are targeting over 80 per cent of the total votes cast in 2023 for him to emerge victorious. "We are supporting and mobilising for him because he has the vision and he showed this when he was given the opportunity as a Lagos State Governor. Under him, infrastructural development, legal and security development were utmost. Many of the states copied their economic blueprints from Lagos.

115

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

CONVERSATION ON ELITE AND NATIONAL DEVELOPMENT... L-R: Former Chairman, Independent National Electoral Commission (INEC), Prof. Attahiru Jega; Executive Vice Chairman, Aig-Imoukhuede Foundation(AIF), Mrs. Ofovwe Aig-Imoukhuede; Professor of Economic Policy, Oxford University, Prof Stefan Dercon; former President Olusegun Obasanjo; former Chairman, Federal Inland Revenue Service (FIRS),Mrs. Ifueko Okaru, and Chairman, AIF, Aigboje AigImoukhuede, at a national conversation on Elite Consensus and National Development, convened by AIF in Lagos…yesterday

B U H A R I : C I T I Z E N S W H O C O N T R I B U T E TO N AT I O N A L D E V T D E S E RV E TO B E A P P R E C I AT E D Deji Elumoye, Chuks Okocha, Emameh Gabriel and Sunday Aborisade in Abuja President Muhammadu Buhari, yesterday, reaffirmed the principle of sanctions and rewards, when he conferred national honours on nearly 450 citizens and some foreign nationals, declaring that persons who contribute to national development deserve to be encouraged and appreciated. Those honoured by the president during the ceremony in Abuja included Chairman of THISDAY Newspapers and Arise TV Media Group, Prince Nduka Obaigbena, who was conferred with Commander of the Order of the Niger (CON). The colourful ceremony held at the State House witnessed the conferment of different categories of national honours, awards, medals and insignia on 447 other Nigerians and seven foreigners for selfless service to the country. Top on the list of other awardees were Senate President, Dr. Ahmad Lawan; Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola; former CJN, Justice Ibrahim Tanko Muhammad; Secretary to the Government of the Federation, Boss Mustapha; and former finance minister, Dr. Ngozi Okonjo-Iweala. There were also Minister of Works and Housing, Babatunde Fashola; Deputy Secretary-General of the United Nations (UN), Ms. Amina J. Mohammed; Nigeria’s Permanent Representative to the UN, Professor Tijjani MuhammadBande; Group Managing Director, Access Corporation, Herbert Wigwe; Chairman, Ikeja Disco, Kola Adesina; and novelist Chimamanda Ngozi Adichie. Others were Chief Executive Officer of Flutterwave, Olugbenga Agboola; and Chairman, Chief Executive Officer, Lee Engineering Group, Dr Leemon Ikpea. The recipients were decorated under different medal categories, including Grand Commander of the Order of the Niger (GCON), Commander of the Order of Federal Republic (CFR), Commander of the Order of the Niger (CON), and Officer of the Order of the Niger (OON). But one of the awardees, human rights activist and lawyer, Chief Mike Ozekhome, Senior Advocate of Nigeria (SAN), frowned on the non-consideration of former Senate President, Dr. Bukola Saraki, for the honour, saying it is against the laid down principles of national award. Buhari stressed the need for all citizens and friends of the country to do their best for Nigeria. He reiterated the commitment of his administration to smoking out all bandits, criminals, terrorists, and insurgents in the land and bringing them to justice. He reaffirmed his pledge in the Independence Day address to the nation to hand over a Nigeria free

from insecurity to the next generation of leaders. The president stated, "We will continue to root out all forms of banditry, criminality, terrorism and insurgency in the land. As I stated earlier in my Independence address to the nation, I will hand over a Nigeria that is free from insecurity to the next generation of leaders." Buhari commended the National Awards Committee, headed by retired Justice of the Supreme Court and Emir of Lafia, Justice Sidi Bage Muhammad I, for a great and patriotic duty of diligently going through over 5,000 submissions and coming up with recommendations that formed the basis of the awards. He noted that the screening and selection of nominees for this year’s award, as always, followed established broad criteria, in accordance with the National Honours Act CAP.N43 of the Laws of the Federation of Nigeria 2004. He said the criteria included “consistent and meaningful participation in community and/or national development; rendering unsolicited, selfless and philanthropic services to humanity; outstanding sacrifice in the defence of a cause popularly adjudged to be positive, relevant and beneficial to the nation and community.” Other criteria listed by the president for selecting the recipients were, “Distinct act of bravery in the protection and/or defence of national interest, public peace, safety of life and property, remarkable achievement in any field of expertise, where the person’s activities in that field have made significant contributions to the attainment of national goals and objectives, immense contributions towards the uplift of community, state, nation and/or humanity through achievements by way of inventions and bringing outstanding honour and glory to the state through personal dedication and patriotic commitment. “Service with integrity is also a basis for the selection process.” Emphasising that nation building involved a lot of sacrifice by the citizenry, the president declared that citizens, who contributed to national development deserved appreciation. He lauded the 2022 National Award recipients for distinguishing themselves in various ways “for the purpose of recreating a new Nigeria of our dreams through respect for the rule of law, image laundering, transparency and accountability in management of scarce resources.” Buhari praised private sector players for helping to transform Nigeria and bringing the country honour in various areas, such as creditably acquitted themselves in business, entertainment, hospitality, and transportation. He stated, “We have amongst the recipients today, Amb. Prof. Tijjani Muhammad-Bande, Dr. Ngozi Okonjo Iweala, Ms. Amina

J. Mohammed, and Chimamanda Ngozi Adichie, who are doing our country proud on the international scene. Our dear sisters are a source of inspiration to our young women that through the dint of hard work and dedication, they can achieve greatness. “We also have on the list, Imam Abdullahi Abubakar, a religious leader, who hid over 262 Christians in his mosque from attacks in Yelwa Gindi Akwati village, in Plateau State. He is a good example of religious tolerance we preach amongst Nigerians. I am excited that he is being honoured today with Member of the Order of the Federal Republic (MFR). “Worthy of mention are our artistes, particularly, our very own Damini Ebunoluwa Ogulu (Burna Boy), who won the Grammy Awards in 2020. He along with other artistes have repositioned the Nigerian entertainment industry and placed it on the global map. At the just concluded Dubai Expo 2020, Nigeria’s pavilion was a beehive of activities as our musicians entertained guests from around the world. “Despite the present economic challenges, Nigeria still boasts men and women of integrity. Ms. Josephine Agu, an airport cleaner returned $12,200 found in a toilet at Murtala Mohammed International Airport, Lagos, as well as Ogbanago Muhammed Ibrahim, a bank security man, who found and returned $10,000. “Today, we celebrate their dignity and strong strength of character by conferring National Honours on them. They are a shining example to our younger generation. I congratulate all the recipients today, who will be joining the league of Awardees. “I appreciate the non-Nigerian recipients and assure all of you that this administration will continue to provide the enabling environment for you to undertake your lawful businesses to allow you to sustain your efforts at contributing to the development of our nation, Nigeria.” The president acknowledged that the list of awardees was justifiably long because the exercise had not been carried out since 2015. He recalled that since the inception of his administration, there had not been such occasion as this, where individuals and friends of Nigeria had been singled out for investiture, except for the Special Investiture Ceremony in honour of the late Chief MKO Abiola, Alhaji Baba Gana Kingibe, and Chief Gani Fawehinmi. Buhari further noted that the Investiture Ceremony for Abiola and others was specially carried out to right past wrongs, assuage feelings, and resolve to stand firm now and in the future for the sanctity of the electoral process and the country’s democracy. The president said the country’s

athletes were also honoured recently for their spectacular performances in several competitions. He appealed to other Nigerians, who were yet to receive this recognition to be patient and understand that their efforts in nation building were appreciated and at the right time, they would similarly be recognised. “This administration will continue to partner Nigerians and friends of Nigeria with like minds in our efforts to build the Nigeria of our dreams, where everybody will strive to excel in their chosen fields, devoid of parochial sentiments,” he maintained. Buhari reminded the recipients and other Nigerians that national honours were not merely decorative, but, “They remind us of an important part of our responsibility as citizens. We must always endeavour to do our best for our country.” The awards, which were in 10 categories, were presented to Supreme Court Justices, judges, top lawyers, incumbent and former governors, ministers, traditional rulers, creative artistes, politicians, businessmen, athletes, security officers who died in the line of duty, and other distinguished Nigerians. A total of six persons were conferred with GCON, 55 received Commander of the Order of the Federal Republic (CFR), 65 got the Commander of the Order of the Niger (CON), 77 were presented with the Officer of the Order of the Federal Republic (OFR); 110 received the Officer of the Order of the Niger (OON); 74 were presented with Member of the Order of the Federal Republic (MFR), and 55 received Member of the Order of the Niger (MON). There were four recipients each for the Federal Republic Medal I (FRM I) and Federal Republic Medal II (FRM II) Second Class).

The seven foreigners honoured received the OFR Award.

Earlier, in his welcome address, Minister of Special Duties and Inter-governmental Affairs, Senator George Akume, said the 2022 national award ceremony was unique and outstanding, because there had not been an elaborate national awards ceremony under the current administration. Akume disclosed that over 5,000 applicants were submitted, screened and scrutinised to arrive at the latest national honours list. According to him, the process was rigorous and the recipients were people "that have contributed and will continue to contribute in the economy and social development of the country.” But one of the award recipients, Ozekhome, flayed the nonconsideration of former Senate President Bukola Saraki for an award. He said Saraki’s omission was against the laid down principles of the national award. Ozekhome, who spoke at the award ceremony, however, thanked

Buhari for the recognition. He said he was coming face to face with the president for the first time in his life. Ozekhome said, "I have been very critical. I think he must have seen things from what I've seen. The cup is half full rather than half empty, looking at my criticism in the attempt to make his government better rather to ruin his government or bring it down. So, by agreeing and actually giving me the one of the biggest honours, Commander of the Order of the Niger, I thank Mr. President, but I want to thank God Almighty, the maker of the universe for bringing me this far from my humble beginning and putting me where I am today.” Berating the federal government for removing Saraki from the list, which he described as not only wrong but also political, Ozekhome said, "It's wrong! Wrong! National honour should not be based on politics; it should be based on merit, particularly, on precedents. It is on record that senate presidents are usually awarded the rank of Grand Commander of the Order of the Niger like the Vice President. "For Saraki, who headed the senate, which till tomorrow is the best senate ever in the history of Nigeria right from the time, I would have believed that no matter what partisanship or qualities, Dr. Bukola Saraki ought to have been given the award. What is done today, which is wrong, will be righted by another government. Read my lips, that one I can assure you of.” Samuel Eyitemi Arobo Ogulu, who received the Member of the Order of the Federal Republic (MFR) award on behalf of his son, Damini Ogulu, also known as Burna Boy, described the honours as elating for his son. Asked how his son received the news, Ogulu said, “I'm elated and grateful that his hard work and dedication have been recognised, finally, and I think there's still a lot for him to do. He's just starting. This will encourage him to do more, and encourage all those behind him to follow suit.” Another recipient of the MFR honour, Linus Okorie, describing his feeling, said, “I just feel energised, feel excited, because it's 27 years of the work that I've done for leadership development in Nigeria and having your country recognise you is the greatest honour I can imagine.”

Lawan: Our National Honours Award, Additional Call to Duty

President of the Senate and one of the awardees, Dr. Ahmad Lawan, said the conferment of national honours on him and others was an additional call to service. Lawan was conferred with the national honour of the Grand Commander of the Order of the Niger (GCON). He spoke on behalf of the other

446 awardees at the event. The senate president said the award was an additional call to service, a call to duty and an invitation to realise that citizens' efforts would not be in vain. He said, "We are, therefore, inspired, motivated and admonished to keep up our inputs, as stakeholders in the building of a virile nation. This is why I call on awardees to be steadfast, considering the responsibility that comes with the honours. "This obligation is one of leadership, more work and the provision of inspiration to others," Lawan said, while thanking President Buhari for the honour done to them through the awards. He said, "The careful and painstaking selection is another evidence of Mr. President's readiness to recognise excellence and service to nation-building, in line with his zeal to inspire citizens and to encourage as many others as possible for the future. "The task of building a nation is obviously a continuous and collective effort. It is continuous because it is a never-ending process that needs increasing energies irrespective of the level of development that has been attained. "Today's event is one more instalment in this process of acknowledgments, which Mr. President has methodically carried out. I, therefore, thank Mr. President on behalf of all the awardees, as we are most excited at the privilege of the prestigious honour.”

PDP Salutes Okowa, Elumelu, Others on National Honours

The leadership of the Peoples Democratic Party (PDP) congratulated its vice presidential candidate and Governor of Delta State, Dr. Ifeanyi Okowa, and other leaders and stakeholders of the party on their well-deserved conferment of national awards by the federal government. In a statement by the PDP national publicity secretary, Debo Ologunagba, the main opposition party said, "Our party salutes Enugu State Governor, Hon. Ifeanyi Ugwuanyi, and his Taraba State counterpart, Arc. Darius Ishaku, CON; the Minority Leader of the House of Representatives, Hon. Ndudi Elumelu, OON; Senate Minority Whip, Sen. Chukwuka Utazi, CON and other PDP leaders.” PDP described the awards as resounding recognition of the recipients’ patriotism and commitment to nation building in line with the manifesto of the party. It stated, "Of particular note is the award of CON to PDP vice presidential candidate, Dr. Ifeanyi Arthur Okowa, which is coming alongside the overwhelming nationwide acceptance by Nigerians of the Atiku/Okowa presidential ticket ahead of the 2023 general election."

116

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

EHINGBETI LAGOS ECONOMIC SUMMIT 2022... L-R: Sam Egube, commissioner for economic planning and budget, Lagos State; Nike Aboderin, director, ﬁnance and account, Federal Airports Authority of Nigeria (FAAN); Hadi Sirika, minister of aviation; Babajide Sanwo-Olu, governor, Lagos State, his deputy Obafemi Hamzat; Rabiu Yadudu, managing director, FAAN, and Ope George, director general, Public Private Partnership, Lagos State Government, during the opening ceremony of Ehingbeti Lagos Economic Summit 2022 in Lagos, yesterday.

Kinsmen Warn Ortom to Leave Ayu Alone or Forget Senate Bid This is not the best of time for the Benue State Governor, Samuel Ortom, as his kinsmen have warned him to either leave his brother and National Chairman of the Peoples Democratic Party(PDP), Dr. Iyorchia Ayu, alone or forget his aspiration to go to the senate in 2023. The Jemgbagh Development Association, Abuja Chapter, which

comprised Ayu’s kinsmen, Monday, threatened political consequences against Ortom if he continued to align with those seeking to force Ayu to resign. President of the association, Terver Felix Abor, at a press conference, accused the governor of pursuing a deliberate attempt to undermine the people of Jemgbagh namely:

“The honourable Minister (of Special Duties), Dr. George Akume, the former Senate President, Dr. Iyorchia Ayu, and Senator Orker Jev.” While noting that the situation called for serious concern, the association president said, “We are disheartened that the governor, who wants to be Senator for Zone B of Benue State comprising of Jemgbagh

and MINDA will involve himself as usual in destroying a Jamgbagh son, Ayu. “The philosophy which defines politics as a game of interest/ number will definitely be a major factor in zone B come 2023 general election, which the Jemgbagh sons and daughters shall surely pay back as the needful has failed to

be addressed. “What will become of Jemgbagh people today if Ayu, the PDP National Chairman, who is also a prominent son is pushed to resign from office? Ortom’s rightful answer to the question will give him a much more enabling experience among Jamgbagh people.” He said though it remained a

15m Nigerian Girls to Benefit from $1bn Global Strategy Fund, Says NGO Kuni Tyessi in Abuja The Plan International, a nongovernmental organisation, has unveiled a $1 billion global strategy fund targeting 200 million girls to address challenges affecting children’s rights and their wellbeing. The Global Chief Executive Officer (CEO), Plan International, Mr. Stephen Omollo, said this yesterday in Abuja, at the Global Strategy Launch 2022-2027 of the scheme with the theme, ‘Girls Standing Strong to make global change.’ According to him, societies thrive when girls learn, adding that tremendous and lasting positive impacts would be seen if attention was given to the girl child rights in the area of education, health and politics. “We are looking at how to expand its reach and work with the partnership and grow investment to work with young people in Nigeria. We are here in Nigeria to launch this global strategy, which really pleases us as Plan International working with partners and in Nigeria to progress the issue and advance children’s rights and equality for girls. “We are here to discuss issues on how we can we together accompany the government of Nigeria, the people of Nigeria, to say that we can address the humanitarian context in the country and address issues that impact on children. “We have an investment plan. We have just launched what we call the Global Girls Foundation, which is an investment plan to grow more income, and to reach more girls. “Globally; we want to reach 200 million girls. With assistance, we want to ensure that girls learn, lead, that girls can decide and that girls thrive,” Omollo said.

He also said the five-year global investment strategy was targeting 200 million girls, urging donors to support the course to address issues affecting girl child. He commended the supportive role of the federal government to achieve this feat and expressed hope that the collaboration would be sustained and improved upon. On her part, the Chairman of the Board, Plan International, Mrs. Gunvor Kronman, said past initiatives of the organisation had succeeded and expressed optimism that the new initiative would yield perfect results at the end of the five-year programme. According to her, the organisation would work with local communities to address the humanitarian needs in the country. Also, the Country Director, Plan International Nigeria, Mr. Charles Usie, said that about 15m girls have been targeted under the programme across Nigeria. According to him, the strategy would bring new focus to girls and young people in meaningful ways in building their capacities to tackle the issues they face, especially girls. He also said the strategy would help articulate what would be done for girls in the area of education, healthcare, livelihood, protection, water and sanitation, among others. He said, “This strategy is going to guide everything we do globally. In Nigeria, we will align our strategy to the global strategy. “Nigeria is one of our biggest country programme worldwide. Now, in the previous strategy, we had a target of 100 million girls and from that target, Nigeria was responsible for reaching 10 million girls, which is 10 per cent of the global targets. “In this new strategy, starting from 2022, in the target of 200 girls,

Nigerian may likely get as much as 10 or 15 million girls as a target for the next five years. “So, the new strategy brings a new focus to girls and young people in meaningful ways. And by this we mean we want to in the next five years, build strength in the movement of young people or girls to tackle the issues that young

people face particularly young girls.” Also, the Minister of Women Affairs, Dame Pauline Tallen assured of continuous support to promote the rights of the girl child in the country. The minister, represented by the Director, Child Development Department of the ministry, Mr. Ali Madugu, said the budget for the

ministry would henceforth include budget line for girls’ education. “And we can see that they are not also concerned with only the Nigerian girls, but they are trying to expose them to the international issues so that Nigerian girls will learn from them and also build their capacity and build their future,” she said.

socio-cultural and non-partisan organisation, it would not fold its arms to watch any of its sons or daughters being unjustifiably attacked, and maintained that Ayu has throughout his political carrier demonstrated his love and commitment to democratic ideals as well as support for Nigerians across divides. The group recalled that Ayu, while serving as Senate President, rallied other progressives to support the aspirations of the late Chief MKO Abiola and resisted entireties to support the illegal cancellation of the June 12, 1993 presidential election, which Abiola won. It equally noted that Ayu stood firm behind President Olusegun Obasanjo and Goodluck Jonathan, both southern Nigerians, while they were in office as such, it would be wrong for anyone to claim that Ayu was working against southern interests. The group appealed to PDP leaders to rally behind the party chairman in the interest of justice and fairness.

INEC: New Voters’Cards Ready November, Weeds Off 2.7m Double Registration Says 56,000 PVCs ready for collection in Sokoto Chuks Okocha in Abuja and Onuminya Innocent in Sokoto The Independent National Electoral Commission (INEC), yesterday, said new Permanent Voters’ Cards would be ready by November. INEC Chairman, Prof Mahmoud Yakubu, who hinted at this at a National Endowment for Democracy event in Washington DC, the United States, however, added that 2.7 million double registrations have been further weeded out of the last Continuous Voters Registration exercise conducted by the commission. This is as INEC in Sokoto State, yesterday, said 16,000 new and 40,000 old PVCs were ready for collection by voters in the state for the 2023 polls. However, according to Yakubu, about 50% of the new PVCs were ready but yet to be distributed to collection centres. He raised concerns about the rising levels of insecurity across

the country, saying the Commission has its “fingers crossed”. His words: “It is a perennial issue, because, at the end of the day, it is not new but the dimension of the insecurity is new in the sense that in the past, it was localised or confined to a particular part of the country – the North East – but now, it is more widespread. “We are keeping our eyes, particularly, on the North-West and the South-Eastern part of the country. Elections are conducted by human beings. We worry about the security of our officials, materials, and even the voters themselves. Without them, elections cannot be conducted.” The INEC chief, however, said they “have spoken to the security agencies and they have assured us that the situation will improve before the elections. So, fingers crossed.” Meanwhile, in Sokoto INEC also said the newly introduced Bimordial voters accreditation

system B-VAS technology would further improve on the commissions mandate to deliver a credible exercise across the country. Head, Voter Education in Sokoto, Muhammad Abbani Takai, disclosed this at a meeting convened for candidates of the All Progressives Congress (APC) by the commission to highlight its guidelines and rules on tracking financing and general electioneering process and campaign activities of parties. "Candidates and parties spending limits have been spelt out by the commission, thus, must not exceed same," he stressed. In attendance at the meeting were the party's governorship candidate, Ahmed Aliyu Sokoto, all other party candidates for various elective positions across the state. He made reference to sections of its guidelines on vote buying, contribution and financing of candidates and parties campaigns,

adding that, "INEC will not spare anyone, who violates its guidelines and rules, which will be subject to fines or imprisonment or both. According to him, finances for presidential campaigns should not exceed N5bn, Governor N1bn, Senator N100 million, Reps N70 million, and State Asssembly N30 million. Takai said the commissioned was ready to conduct a transparent, free, credible and acceptable exercise with the support and cooperation of critical stakeholders inorder to deepen the nation's democracy. Similarly, the commission's spokesman in the state, Ahmed Musa, said, violent acts, hate speech, sensational messages, attacks on personalities, negative insinuations against parties, candidates, offices, campaigns at places of worship and based on religion, ethnic and sections are against its guidelines and any violation would attract sanctions.

117

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

NEWS

ACCOUNTING TO SHAREHOLDERS…

L-R: Non-Executive Director, Red Star Express Plc, Mrs. Chioma Sideso; Company Secretary, Mrs. Frances Ndidi Akpomuka; Chairman, Mr. Suleiman Barau; Managing Director/CEO, Mr. Auwalu Badamasi Baburu, and Executive Director, Mr. Charles Ejekam, during the 29th Annual General Meeting of the company in Lagos...yesterday ABIODUNAJALA

House Probes Alleged 10yr Lopsidedness in NSCDC Recruitment Udora Orizu in Abuja The House of Representatives has mandated its Committees on Interior, Federal Character and Public Service Matters to investigate recruitment, staff quota and promotion exercises carried out by the Nigeria Security and Civil Defence Corps (NSCDC) over a period of 10 years. The resolution followed the

adoption of a motion sponsored by Hon. Awaji-Inombek Abiante and Hon. Dumnamene Dekor, at the plenary yesterday. Moving the motion, Abiante noted that recent reports indicate that the NSCDC has not been observing the principles of federal character in its recruitment processes thus, marring the Corps with irregularities, racketeering, favouritism and nepotism as

NAWOJ Partners LuluBriggs on Girl Child Devt Blessing IbungeinPortHarcourt The Nigerian Association of Women Journalists (NAWOJ), Rivers State Chapter, has established partnership with the Governorship Candidate of Accord Party in the State, Mr. Dumo Lulu-Briggs, for the onward development of the girl child in the state. Lulu-Briggs cemented the partnership when the State Chairperson of NAWOJ, Ms. Susan Serekara-Nwikhana, led her members on a courtesy visit to the gubernatorial candidate in Port Harcourt, ahead of the International Day of the Girl Child celebration. Speaking during the visit, Serekara-Nwikhana requested continuous partnership of Dumo Lulu-Briggs for the positive development of girl child through several programmes mapped out

by NAWOJ, Rivers Chapter. She noted the benevolent concern of the Accord guber candidate on female folks, commended his style in encouraging youths to embrace education through free sponsorship. The NAWOJ chairperson said: “Having understood your positive contributions in the lives of girl child in our society, we wish that you write your name in Gold through your strong partnership with the association, we will be able to touch many lives, especially out of school girls. “NAWOJ having a strong partner like you will be able to move from school to school both in primary and secondary schools, sensitising and encouraging them to remain focused and resolute so that they are able to acquire the basic education needed for them to be useful citizens of the state.

Ihedioha, Ogunewe Mourn former Imo Deputy Gov, Udeagu Amby Uneze in Owerri The former Governor of Imo State, Chief Emeka Ihedioha has expressed feelings of sadness over the demise of a one-time deputy governor of the State, Engr. Ebere Udeagu, who died on Monday at 79 years. Also expressing his grief over the death of the former deputy governor, the former Chief of Defence Standards and Evaluation (CDSE) of the Nigeria Army Defence Headquarters, Abuja, General Lincoln Ogunewe (rtd) said that the demise of Udeagu was indeed a shock to not only to the people of Imo State but Nigeria in general. Ihedioha described Udeagu as a gentleman par excellence, who in his lifetime, demonstrated a high level of

dignity and patriotism in the various offices and high positions he served in the State. “It is notable that he excelled in his profession as a water engineer, which earned him honours and the recommendation as deputy governor,” he said. According to him, while he served as deputy governor, his loyalty to his boss, His Excellency, Chief Achike Udenwa, former Governor of Imo State and dedication to duty, remain indelible and indeed a positive reference for public servants. “He was my friend with whom I shared same vision for the rebuilding and development of Imo State. And I recall his steadfastness and contributions with satisfaction. He will surely be missed.

well as securing convictions for erring officials. He said the House is aware that the recent recruitment exercises by the NSCDC were marred with favouritism and abuse of federal character principles, where the management team used their

position and influence in high places of authority to recruit family members. According to him, it was reported that a recruitment exercise was done without advertisement with over 90 employment letters returned to the headquarters from Imo

State as those who were to receive their letters did not show up and that those slots were reported to belong to Rivers State indigenes. He said: “Cognizant of the fact that in 2021, the Joint Committee on Security and Public Service of the Bauchi

State Assembly led by Honourable Sabo Bako Sade recommended outright rejection of the recruitment exercise as being fraudulent, which resolutions the Bauchi State House of Assembly adopted and communicated same to the NSCDC headquarters.

Telecom Infrastructure Critical to Successful 2023 Elections, Says Danbatta The Executive Vice Chairman (EVC) of the Nigerian Communications Commission(NCC), Prof. Umar Danbatta, has said telecom infrastructure is very critical to successful 2023 elections, urging all Nigerians to protect the infrastructure for the benefit of the country.

Danbatta, who was special guest at the 6th Edition of the Annual Conference of Guild of Corporate Online Publishers (GOCOP) in Lagos at the weekend, with focus on the forthcoming election and the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu in attendance, said with the planned

transmission of election data and results riding on telecom infrastructure, there was need to ensure the fidelity of the transmission systems to enhance the credibility of such data. He said: “If telecom infrastructure is vandalised or damaged, it would create problem in the area of the data transmission

during election; citizens will find it difficult to use their phones to seamlessly communicate and the journalists too might find it difficult in being able to access their web platforms to disseminate necessary information which members of the public require to make informed decisions at every point in time.”

‘Nigeria’s Next President ‘ll Battle Monumental Challenges’ Fidelis David in Akure

A chieftain of the All Progressives Congress (APC) in Ondo State and Media Director for the APC Presidential Council for Canada, Dr. Abiola Oshodi, yesterday disclosed that whosoever wins the 2023 presidential election would be confronted with monumental

challenges and opportunities within and outside the country that will test the mettle of such a president. Oshodi, in a statement made available to journalists in Akure, said that Nigeria needed a competent and visionary person as a president to take it to a new level come 2023, counseling Nigerians on the need to keep

themselves abreast of political undercurrents and vote wisely. The Canada based psychiatrist and the convener of the Oshodi for Tinubu /Shettima Media Group, said: “Whosoever wins the presidential election in 2023 will be confronted with monumental challenges and opportunities within and outside the country that will test

the mettle of such a president. “Nigeria is at a delicate stage of its developmental process and needs a president with a hand on experience, and Senator Tinubu who has governed Lagos, the most commercial of Nigeria 36 states deserves to be given an opportunity to pilot Nigeria affairs from May 29, 2023,” he said.

Ekiti Monarch Attacks Fayemi over Alleged Balkanisation of Kingdom Victor Ogunje in Ado Ekiti

The Alaaye of Efon Kingdom, Oba Emmanuel Aladejare, has expressed anger over alleged splitting of his town into two by the Governor of Ekiti State, Dr. Kayode Fayemi, under the guise of autonomy.

The monarch posited that the recognition of Ahun-Ekiti, one of the quarters in Efon-Alaaye, as a full-fledged town, and the subsequent appointment of Prince Jacob Adelowo as a king, was subjudice, and contemptuous, since a case over the matter is pending in court.

The Bureau of Chieftaincy Affairs had in a letter dated October 4, 2022, and addressed to Prince Jacob Adelowo stated that “consequent upon the recognition of Ahun Ekiti by the Ekiti State Government as an autonomous community, the state government has approved

your appointment as the Alahun of Ahun Ekiti. “Henceforth, you are a recognised traditional ruler (Grade C) under the provisions of Ekiti State High Chief Law, 2012.” The letter was signed by the Bureau’s Executive Secretary, Mr. Morakinyo Adegboyega.

Work Together to End Insecurity, South-east Govs Tasked AlexEnumahinAbuja The five governors of the South-east geopolitical zone have been urged to join forces, as well as strategise towards ending the killings and other security challenges in the zone. The call, made by a civil rights advocacy group, Human Rights Writers Association of Nigeria (HURIWA), also urged the military

and police to stop attacks and killings of civilians under the pretext of chasing ‘unknown gunmen’. HURIWA in a statement faulted the current military onslaught, arguing that there has to be alternative to military force such as a negotiated settlement. The statement signed by the National Coordinator of the group, Emmanuel Onwubiko,

also condemned the recent “dastard attacks” on police and military formations in Anambra, Enugu, Imo, Abia and Ebonyi States. According to the statement, “The unmitigated reign of bloodshed and violence have no utilitarian value to the Igbos, but have contributed to making the hitherto peaceful geopolitical entity a danger zone, thereby crippling economic activities

for the people of the South-east region.” Onwubiko said the group “is pained that these organised killings have gone on for far too long while the governors of the South-east states and elected political office holders, especially the members of the National Assembly, are totally disconnected from the realities of the crude, primitive and ruthlessly.

7,537 People to Benefit from FG’s Empowerment Programme in Osun Yinka Kolawole in Osogbo The Governor of Osun State, Mr. Adegboyega Oyetola, has disclosed that not less than 7,537 people from the state would enjoy the interest free loans of the federal government under the Government Enterprise and Empowerment Programme

(GEEP 0.2). Oyetola added that the 7,537 intending beneficiaries would make Osun State the largest beneficiary throughout Nigeria. He disclosed these at the Staff Development Centre, Abere, during the flag off ceremony of GEEP 0.2, an initiative of All Progressive Congress’ (APC) led

federal government. GEEP 0.2 is basically aimed at giving financial support in the form of loans to small and medium scale enterprises in Nigeria under Trader Monie, Marketmonie and Farmermonie schemes of the federal government. Oyetola, who was represented

at the occasion by the Secretary to the State Government of Osun, Mr. Wole Oyebamiji, appreciated President Muhammadu Buhari’s led federal government in making Osun among other states in the South-west to be the first and the highest beneficiary of the programme.

118

WEDNESDAY OCTOBER 12, 2022 ˾ T H I S D AY

NEWSXTRA

BRIEFING FOR 2022 ANNUAL WALK FOR NATURE EXERCISE...

L-R: Director, Business Development and Communications, Nigeria Conservation Foundation (NCF), Mr. Uche Achunine; Permanent Secretary, Office of Environmental Services, Dr. Omobolaji Gaji, and Director, Conservation and Ecology, office of Environmental Services, Mrs. Tolulope Adeyo, during the pre-event press briefing for the year 2022 annual Walk for Nature exercise, held in Lagos…recently

Abuja Electricity Disco Disconnects Niger Govt House, MDAs over N1.1bn Debt Laleye Dipo in Minna The Abuja Electricity Distribution Company (AEDC) has disconnected electricity supply to the Niger state Government house, all Ministries, Departments and government Agencies. The

disconnection, which took place yesterday, THISDAY findings, was as a result of accumulated debt put at over N1.1billion. The action, the second within three months, followed government’s breaching of an agreement it reached

with the AEDC consultant Seamless Nigeria Limited and the leadership of the House of Assembly last July on how the debt owed AEDC will be liquidated. In the agreement, government pledged to be reducing its debt by N274 million monthly in addition to paying the current bills. It was

gathered from a source close to the AEDC that government paid only N274m for the month of July in addition to the current bill but has not paid the second tranche for August and September. “It is a breach of agreement, government has not shown any seriousness that it will honour its part of the bargain” the source

said. Following the action of the AEDC all the government ministries and agencies including the government house, water board, the Minna General Hospital, IBB Specialised Hospital have been thrown into blackout resulting in some of them running their equipment on

generators. No official of government was ready to comment on the development but the Public Relations Officer of the AEDC Mr. Mohammed Adamu when contacted confirmed the story. Adamu said: “It is a directive from the consultants, our hands are tied.”

Onyebuchi Ezigbo in Abuja

Oral Solution, Kofexmalin Baby Cough Syrup, Makoff Baby Cough Syrup and Magrip N Cold Syrup. Adeyeye, who addressed journalists at the headquarters of the agency yesterday in Abuja, said: “The attention of NAFDAC has been drawn to the activities of some impostors and fraudulent individuals impersonating the DG via her social media accounts, Facebook and Linkedin.” She said the impostors were asking for money in exchange for employment and other favours.

“This is a security breach. NAFDAC and the DG will never request for gratification to carry out its mandate. As a result of this the social media account of the DG will no longer be in use until further notice. “Members of the public are hereby advised to exercise due caution and report any such activity to EFCC (+2348093322644) or Department of State Services (+2349153391309) in Nigeria. For International, call UK Interpol (+44 797 115 3192) or US Federal Bureau of Investigation (+1-800-

225-5324),” she said. Speaking on efforts to prevent circulation of killer baby cough syrup spotted in Gambia, Adeyeye said the agency is apprehensive that the offensive syrup may have been distributed through informal markets to other countries or regions apart from Gambia. She explained that poor quality control might have led to nondetection of these dangerous by products and hence the fatality that it has caused in the Gambia.

15-year-old Boy Allegedly Murdered in Lagos NAFDAC Alleges Hacking of DG’s Social Media Account Rebecca Ejifoma A 15-year-old boy, Chukwuemeka Jerome, has been allegedly murdered after his father found him slaughtered at his Ago-Okota residence in Lagos. Jerome was said to have been found dead with his hands tied with a rope behind him and his neck cut off on Monday. According to reports, the incident occurred at 7 pm at 54 Niyi Onilare Street, off Lateef Adegboyega street, Ago-Okota, Lagos. The father, Mr. Akunwanne Jerome, reported that on this same date at 7 pm or thereabouts when he was returning home from

work he saw a crowd screaming in front of his compound that his son Chukwuemaka, whom he left at home is dead. Jerome further noted that when he went to his room, he saw the body of his son on the floor with his two hands tied to the back with a rope while his neck was slaughtered as he was turned outside down position. While the body has been deposited at the morgue for autopsy, the Divisional Police Officer (DPO) of Ago Station, Basilia Onyejegbu told THISDAY that the case had been transferred to State CID Panti. “It is a murder case. It has been transferred to Panti.”

Norrenberger, Bodyline to Host Abuja Fitlife Norrenberger, a leading, independent financial services group, is collaborating with BodylineFitness and Gym Limited, a leading fitness brand in Nigeria, to host Abuja Fitlife, a yearly fitness event which has attracted over 9,000 participants since its inception in 2017. The event, which will be held on December 2 & 3, 2022 in Abuja, Nigeria, will offer attendees a variety of fun and entertaining fitness activities and competitions, designed to encourage a lifestyle of fitness and wellness for both attendees and stakeholders of both Norrenberger and Bodyline. This is part of a five-year collaboration between the two companies, to further the

fitness and health-based initiatives within the community. Commenting, the Group Managing Director, Norrenberger, Mr. Tony Edeh, said: “Norrenberger is a leader in wealth creation and the democratisation of investing knowledge in Nigeria, and as part of our social and community initiatives program, we pursued a collaboration that sends a clear message to our team, our customers and the community at large.” “That message is that health is wealth. We want to reach more people with this message and encourage participation in health and fitness related activities as we continue our mission to help them to create wealth.”

Cleanup: Ogoni Urges Buhari to Caution HYPREP on Management of Funds Blessing Ibunge in PortHarcourt A forum of Ogoni Elders and Leaders of Thought, ‘Gbo Kabaari Ogoni’ has appealed to President Muhammadu Buhari to intervene and prevail on the leadership of the Hydrocarbon Pollution Remediation Project (HYPREP) for a proper management of funds meant for the project through the agency. This is as the group has

alleged that the agency plans to award contracts to unqualified companies not regarding the depth of degradation in the land by oil spillage. In a statement signed by the acting Chairman, John Uebari and Secretary, Prof. Alubabari Nbete of Gbo Kabaati Ogoni, the group raised the alarmed by what appears to be another round of contracts of nontransparent and doubtful credibility going on in

HYPREP. “As elders of our people, Gbo Kabaari Ogoni hereby calls on the President of the Federal Republic of Nigeria, President Muhammadu Buhari, the relevant officials of government and the Bureau on Public Procurement to nip the planned pillaging of the project’s funds in the bud by prevailing on HYPREP and those in charge of its affairs to ensure proper management and

administration of the project’s funds in order for it to actualize the desired purpose.” The forum, stressed that it had severally harped on the short listing and award of remediation contracts to unqualified companies, lamented that such alleged fraudulent practices were forcing the United Nations Environment Programme (UNEP) to pull out from remediating the polluted Ogoni environment.

Sanwo-Olu Plans Health Insurance Scheme for Theatre Arts Practitioners Segun James

As part of the state government’s commitment to the performing arts industry, Lagos State Governor, Mr. Babajide SanwoOlu has announced plans to institute a health insurance scheme for theatre arts practitioners in the state. Following the announcement this trust and redeem all its at a dinner with veterans in the issues at their maturities, whilst looking to further strengthen the relationship with its investors as a responsible and dynamic Wale Igbintade issuer. DLM is an investment The prosecution yesterday grade company comprising displayed before a Lagos retail banking via its digital High Court sitting at Tafawa banking channel Sofri; consumer Balewa Square, video clips & mid-corporate lending; asset of lifeless body of the Chief management; corporate finance Executive Officer of Super advisory; trustees; securities Tv, Usifo Ataga, allegedly trading; and foreign exchange. killed by an undergraduate

DLM Capital Redeems N572m Commercial Paper DLM Capital Group yesterday announced the maturity and successful redemption of its N572 million Series 5 Commercial Paper(CP) Issue. This brings the total redemption to over N4 billion under its N20 billion CP Issuance Programme. In a statement by the company, the Group Chief Executive Officer of DLM Capital Group, Mr. Sonnie Babatunde Ayere, said the group is pleased to repay

National Agency for Food, Drug Administration and Control (NAFDAC) has closed the social account of its Director General, Prof Mojisola Christianah Adeyeye due to alleged the activities of fraudulent individuals impersonating her on Facebook and Linkedin. It further warned Nigerians and the general public against the use or circulation of four blacklisted substandard cough syrups. The are: Promethazine

Yoruba Nollywood industry, the governor was commended by the Nollywood actors and actresses at the event who appreciated him for deeming it fit to take care of the health of the theatre practitioners, especially the veterans in the industry. In recent times, theatre practitioners battling various health challenges and lacking funds have had to take to social

media to beg Nigerians to foot their medical bills. Some are also living in penury due to their inability to work in old age and health challenges. Sanwo-Olu, who said he would pay the insurance premium cover for the theatre practitioners, most of whom are aging, said the Nigerian movie industry and practitioners had played key roles in shaping the

development of Lagos. He said: “We realise that your industry is one of the highest employers of labour. You have continued to provide succour and means of livelihoods to a lot of citizens quietly. More importantly, you give freshness to our lives through your stories. There is always a lesson and information to learn from the experiences you paint in your works.”

Prosecution Displays Video of Ataga’s Lifeless Body in Court Chidinma Ojukwu. In the video, Ataga was seen lying on the ground facing up with his hands spread opened wearing a white singlet and a boxers stained with blood, his head was close to the wall of the service apartment and blood was on the floor at his right

hand side. There was also blood seen on the floor as if he was dragged. There was blood stains on the pillow and duvet cover. In the same Compact Disc video recording of Chidinma’s statement was simultaneously displayed, where she narrated how she murdered Ataga.

In the video Chidinma stated that she met Ataga through a friend and they started speaking to each other and then on June 13, 2021, the deceased called her and asked her to get a place for them to stay so she got the short let service apartment where the deceased died.

119

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͺ ˾ T H I S D AY

WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

Everton Desperate to Improve Iwobi’s £90k Per-week Deal

Femi Solaja with agency report

Following Alex Iwobi’s brilliant form in the on-going season, Everton have opened preliminary new contract talks with the Super Eagles midfielder with the hope of a long term extension to his current deal. According to British tabloid, Football Insider, the AFCON 2019 bronze medal winner with Nigeria, is enjoying the hard work of last few months with the Goodison Park side after thriving in a new

central midfield role. The 26-year old Nigerian has started and completed all nine of Everton’s Premier League matches and become instrumental to the team’s set-up. Everton are keen to tie Iwobi down to a long-term deal as a reward for his performances. His current deal – worth around £90,000-a-week – runs until the summer of 2024. The midfielder opened the scoring as his side lost 1-2 to Manchester United on Sunday and

the club is currently discussing with his manager and hoping in the next few weeks he’s going to seal the long-term contract, the paper reported yesterday. The former Arsenal player unleashed a powerful header

from 25 yards leaving David de Gea helpless for his first goal of the season in the process. Iwobi has already provided three assists for his teammates this term, one more than he achieved in 28 league appearances last season.

Iwobi who joined Everton from Arsenal in the summer of 2019, has predominantly featured as a winger in his Everton career and during his time at the Emirates Stadium. However, his transition into

midfield has given him a new lease of life and he is thriving alongside Idrissa Gueye and Amadou Onana. Everton sit 12th in the Premier League following their loss to Manchester United.

Germany Edge Nigeria’s Flamingos European champions Germany came back from one goal down yesterday to edge Nigeria 2-1 in their opening Group B game at the ongoing FIFA U17 Women’s World Cup finals in India. Top scorer Opeyemi Ajakaye struck the woodwork in the 18th minute as the Flamingos started brightly, but defender Miracle Usani headed the rebound wide. However, Usani would enter the tournament books when she powered into the net a free-kick in the 30th minute to give Nigeria hope. Goalkeeper Faith Omilana

U17 WORLD CUP came up with two great saves to preserve Nigeria’s lead as the Flamingos led 1-0 at the break. The well-drilled Germans scored twice in the second period to scoop all three points, after Svea Stold equalised four minutes into the second half and Albert Mura scored a second in the 61st minute. The Flamingos will be back on the turf of Jawaharlal Nehru Stadium on Friday to seek three points against New Zealand.

Marylove, Oparaoji Crowned 2022 Lagos Tennis Cup Champions Last year’s men and women’s champions of the maiden Lagos Tennis Cup, Uche Oparaoji and Marylove Edwards, on Sunday successfully defended their titles in the second edition of the championship at the Lagos Lawn Tennis Club, Onikan. The national tournament, which involves the Top 8 ranked men and women’s players in Nigeria, ended on an enthralling note as the Abuja-based duo of Oparaoji and Peter Lawal served up a slugfest that lasted four hours and 20 minutes, and included a third set tiebreak before Oparaoji finally put Lawal to the sword 4-6, 7-5, 7-6(8). It was easily the longest game in the short history of the Lagos Tennis Cup, and almost quadruple the 1hr 15 minutes of last year’s final. Both players electrified the spectators who were split in their support as they oohed and aahed while raucously celebrating, or rueing, every point. Oparaoji sprang to life after losing the opening set to level the match at one all. He then built a 4-0 lead in the deciding set, but Lawal refused to be beaten. The third seed fought back to

level the match at 4-4 before two more games apiece forced a tiebreak. Once again Oparaoji raced to a 6-3 lead, and once again Lawal found new life to claw his way back into the match after levelling at 6-6. Oparaoji then grabbed the following two points before collapsing on the court in celebration like his idol Rafa Nadal. The day’s proceedings had started at 1.30pm with the women’s final which was a rematch between Marylove and rising star Oiza Yakubu, following their three-set group stage thriller in which the latter shocked the top seed in the first set before losing the following two sets. This time Marylove was more prepared for the challenge as she ruthlessly blew away Yakubu 6-1, 6-1 to claim her second straight title and, like the men’s champion, earned half-a-million-Naira in prize money. Her opponent got N250,000, but will take even more encouragement from seeing how much she has closed the gap on the frontrunners. Up next for the top players is the second edition of the Abuja Tennis Cup.

O'Trafford Squash Club Honours Super Veteran, Mbonu, @ 70 O'Trafford Squash Club, Nigeria's premier squash-only club, is back with a bang as it celebrates a founding member and super veteran, Dr. Okechukwu John Mbonu with a two-day "special birthday" Tournament involving four top clubs in Lagos this weekend. The finals of the invitational meet coincides with the 2022 World Squash Day on Saturday October 15, 2022. The tournament will serve off on Friday, October 14 at the O'Trafford Squash Club, Officer's Mess, 81 Div. Nigerian Army Hq, Victoria Island, Lagos. Mbonu, an avid squash player and engineer retired as sales director, Nigerian Breweries Plc. He will be 71 years old on October 15. According to the Chairman of O'Trafford Squash Club, Taye Ige,

"Dr. Mbonu is being honoured for his invaluable contributions to the founding and growth of O'Trafford Squash Club and by extension of the game of squash generally." For the tournament, three other Clubs in Lagos namely Squash Section, Ikoyi Club 1938, Squash Section, Lagos Country Club and Yellow Dots Squash Club will join hosts O'Trafford to vie for honours in the Men's, Veteran's and Super Veterans categories. The squash contest is expected to project an exhibition of elite class squash action with plenty of thrilling side attractions and fun with special focus on the Super Veterans for obvious reason of the profile of the Guest of Honour, Dr. OJ Mbonu. The tournament is fully sponsored by top beer brand - Heineken.

CONFIDENT BLUES.... Jorginho (left) and Pierre-Emerick Aubameyang scored Chelsea’s two goals as the Blues defeated AC Milan 2-0 at the San Siro to climb to the top of Group E of the ongoing UEFA Champions League tournament

Xavi Describes Barcelona, Inter Clash as ‘Final’ Manager Xavi has described Barcelona's Champions League Group C match against Inter Milan this evening as "a final" as his side try to avoid elimination. The two teams meet at the Nou Camp on Wednesday night and Barca will be unable to reach the last 16 if they lose and Bayern Munich

CHAMPIONS LEAGUE avoid defeat against bottom-placed Viktoria Plzen. "We need to go out for everything and need to be positive," said Xavi. "We have to try to not feel the pressure and enjoy the game."

Barca beat Czech side Viktoria Plzen 5-1 in their opener but then lost 2-0 away at Bayern and 1-0 at Interin a game that saw the Spanish side controversially have a goal ruled out by the video assistant referee for an Ansu Fati handball. Xavi hopes playing in front of a packed stadium will help inspire his

Ujiri’s Giants of Africa Unveils Four New Basketball Courts in Nigeria Giants of Africa, a foundation dedicated to enriching the lives of African youth through sports, yesterday announced the unveiling of four new basketball courts in Lagos. Tuesday’s announcement is a continuation of the ‘Built Within’ initiative – the foundation’s multiyear, 100-court commitment to investing in sports infrastructure across Africa. With the opening of these new courts, Giants of Africa has built a total of 20 courts in Kenya, Tanzania, Nigeria, Burkina Faso, Ivory Coast, Rwanda, the Democratic Republic of Congo and Senegal since September 2021. “There is so much talent in Nigeria,” said Masai Ujiri, Giants of Africa co-founder and Vice-Chairman and President of the Toronto Raptors of the NBA. “After unveiling our initial courts here in Lagos under the ‘Built Within’ initiative last year, we knew we would be back. We continue to be inspired by the youth as well as the communities that are committed to moving Africa forward through sports. “While basketball courts are the heart of the ‘Built Within’ initiative, it’s about providing valuable life skills to empower the youth, while creating stronger communities

team as they seek to avoid dropping into the Europa League for a second successive season. "It's an amazing scene seeing the Camp Nou full, it's something to enjoy and if they win, even better. If they win the match it will change the dynamic of the group," said the ex-Barca midfielder. "We're expecting similar to what we saw in the other leg; Inter Milan are very defensive, normally very far back with their medium block. "We've been working hard in our training to work on their block and I think we've improved from the Barca of the last 15 minutes in Milan." Barcelona are top of La Liga and unbeaten from their eight matches, while Inter - second in the Champions League with six points from two games and three points behind leaders Bayern - are seventh in Serie A.

RESULTS AC Milan 0-2 Chelsea D’Zagreb 1-1 Salzburg Celtic 0-2

Pupils of Egan Senior Grammar School Igando, Lagos State during the unveiling of the basketball court donated to the school by Masai Ujiri's Giants of Africa... on Tuesday and job opportunities on and off the court. Our goal is to bring social transformation, education and enrichment to the lives of children across the continent and want Africa’s youth to dream big, believing that anything is possible,” continued Mr. Ujiri. The unveilings took place at Gaskiya College and Egan Grammar School sponsored by the Jess and Scott Lake Foundation while the Ejigbo Mini Stadium is in partnership with 2K Foundations. According to the programme rolled out by Ujiri’s GoA, the unveiling of the Abesan Mini

Stadium Facility will follow suit today. The four new sites are in addition to the five previously announced locations, totaling nine basketball courts across Nigeria. Each court unveiling event includes a basketball clinic for 50 boys and girls conducted by local and NBA Giants of Africa coaches, a life skills session, as well as entertainment. Sport courts from Sport Court International, LLC, were used for Gaskiya College, Egan Grammar School and Abesan Mini Stadium events.

Leipzig

Shakhtar 1-1 R’Madrid Copenhagen 0-0 Man City Dortmund 1-1 Sevilla M’Haifa 2-0 Juventus PSG 1-1 Benfica

TODAY Napoli Rangers Atletico Leverkusen Barcelona V’Plzen Sporting Tottenham

v Ajax v Liverpool v C’Brugge v Porto v Inter v B’Munich v Marseille v E’Frankfurt

Wednesday, October 12, 2022

UT H

& RE A SO

Price: N250

MISSILE Madukaife to Ajaka “Ngige is a statesman and his words (are) a call to duty for the National Working Committee (NWC), National Caucus and National Board of Trustees of our great party, not an occasion or invitation to be bashed by an upstart and any other who do not share Ngige’s historical proﬁle in the making of APC” ––A foundation member of the All Progressives Congress (APC), Okelo Madukaife, criticising the party’s deputy spokesman, Yakubu Ajaka, for asking Labour Minister Chris Ngige and other federal appointees to campaign openly for the APC presidential candidate, Bola Tinubu, or resign their appointments.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

The Nwachukwu Metaphor A

s political parties and their candidates unveil their manifestoes, it is important to stress the point that the answer to the question of national unity should be part of the various agendas. The answers could come in various ways; but no political party or candidate that takes the future of Nigeria seriously can ignore the question. In the last few decades, the emergent issues of Nigerian federalism have been brought to the fore by the burgeoning obstacle to national integration. Hence, the voices for the restructuring of the of the federation for the purpose of geo-political equity have become more strident. In the debate, there are those who believe that the legal basis for power devolution and resource control could be achieved by amendments to the 1999 Constitution. On the other side of the debate are their compatriots who insist that the present constitution is fundamentally faulty and therefore a new constitution should be made to give the legislative basis for the proposed restructuring. Yet, some other patriots posit that the answers to the question could be found in the implementation of the 2014 Conference organised by the administration of President Goodluck Jonathan. It is a good thing that no political party presenting candidates for the 2023 elections is campaigning for the separation of any part of the federation from Nigeria. So, a possible way of persuading the separatists and their political mutants to embrace Nigerian unity is to point to the prospects of national integration and how they could be deepened. One of the mega trends in the sociology of Nigeria that could brighten the prospects of national integration

Senator Ike Nwachukwu is the reality of inter-ethnic marriage. The products of inter-ethnic marriages are hardly considered when threats of inter-ethnic wars are recklessly issued by those imbued with the separatist impulse. More often than not, hardly is any thought given to the natural dilemma of a Nigerian whose father and mother belong to different ethnic groups in the event of a bloody conflict between the two groups.

Although there is no official statistics about the population of Nigerians whose parents belong to different ethnic groups, yet the potential of their formidable presence for national integration cannot be denied. Separatists are quick to dismiss those who advocate national integration despite the problems of the federal structure as being unrealistic and even naïve. On the contrary, it is extremely unrealistic and insensitive to imagine that the population of the products of interethnic marriages could ignored as a force for national integration. The family of Senator Ike Omar Sanda Nwachukwu is a perfect metaphor of the positive force that could be generated for national integration by the reality of inter-ethnic marriage. A quintessential officer and gentleman, Nwachukwu retired as a major-general from the Nigerian army. He was the first general of Igbo origin to be appointed after the civil war as the General Officer Commanding of the strategic 1st Mechanised Division of the Nigerian Army. An urbane military officer, he was military governor of the old Imo State. Nwachukwu was appointed minister of labour and later foreign minister in the military government of President Ibrahim Babangida. In the current democratic dispensation, Nwachukwu has represented the Abia north senatorial district in the National Assembly. Senator Nwachukwu’s father, Moses Maduka Nwachukwu, an Igbo man from Ovim in Isuikwuato Local Government Area of Abia state was a member of staff of the Nigerian Railways, who in 1939 married his mother, Binta Fatima Mohammed Diko, a Fulani lady from the Katsina Emirate.

Nwachukwu, 82, speaks Igbo, Hausa and Yoruba fluently. His diction as an English speaker is excellent. Reflecting on the pair of Nwachukwu and his wife even makes their family more metaphorical in talking about national integration. Nwachukwu’s wife, Mrs. Gwendolyn Tonyesia Yoyinsola Nwachukwu, is also a product of interethnic marriage with a father was from the Ejiwunmi family of Ofada, Abeokuta, Ogun State, and a Kalabari (Ijaw) mother from the Bob-Manuel Ruling House of Abonema, Rivers State. The products of the marriage of Nwachukwu and his wife are also married to Nigerians from all parts of the country. So the integrative trend continues in the family. One question for those who say the breakup of Nigeria is the solution is this : what position is the unique Nwachukwu family expected to take in a Nigerian conflict involving the Igbo, Fulani, Yoruba, Ijaw and other ethnic groups? The story of the remarkably Nigerian Nwachukwu family isa well-known one. There are, of course, many similar stories of the oneness of Nigerian. Those stories should, therefore, be deployed as an appropriate metaphor in the amplification of the voices for national integration. The products of inter-ethnic marriage could constitute a critical mass to speak for the integration of Nigeria as a united, just and peaceful nation that is politically primed for development. Perhaps, next time a conference on matters of national unity is called, the products of inter-ethnic marriages should take front row seats.

National Honours Award, Not Merely Decorative By Muhammadu Buhari

t is my honour to address you on behalf of the Federal Government and the people of Nigeria on this occasion of the 2022 National Honours Award Investiture Ceremony. 2.The Award of titles of honour, decorations and dignitaries is a solemn and patriotic event at which President of the Federal Republic of Nigeria honours deserving Nationals and Non-Nationals, who have distinguished themselves in the service of the nation and humanity in accordance with the National Honours Act CAP. N43 of the Laws of the Federation of Nigeria 2004. 3.The screening and selection of nominees for this year’s award as always, followed established broad criteria including but not limited to; a. Consistent and meaningful participation in community and/or national development. b. Rendering unsolicited, selfless and philanthropic services to humanity; outstanding sacrifice in the defence of a cause popularly adjudged to be positive, relevant and beneficial to the nation and community. c. Distinct act of bravery in the protection and/or defence of national interest, public peace, safety of life and property. d. Remarkable achievement in any field of expertise where the person’s activities in that field have made significant contributions to the attainment of national goals and objectives. e. Immense contributions towards the upliftment of community, state, nation and/or humanity through achievements by way of inventions and bringing outstanding honour and glory to the state through personal dedication and patriotic commitment. Service with integrity is also a basis for the selection process.

4.On this occasion, you may wish to recall that since the inception of this administration, there has not been such occasion like this where individuals and friends of Nigeria have been so singled out for investiture except for the Special Investiture Ceremony in honour of Chief MKO Abiola, Alhaji Baba Gana Kingibe and Chief Gani Fawehinmi, SAN whose ceremony was specially carried out to right the wrong done in the past, to assuage our feelings and to resolve to stand firm now and the future for the sanctity of the electoral process and our democracy. 5.In like manner, our country’s athletes were also honoured recently for their spectacular performances in several competitions. 6.It is worthy of note that nation building involves a lot of sacrifice by the citizenry. Citizens who contribute to national development deserve to be encouraged and appreciated. It is based on this premise that I reconstituted the National Honours Award Committee, Chaired by His Royal Highness, Justice Sidi Bage Muhammad I, JSC (Rtd), the Emir of Lafia, a distinguished retired Justice and other patriotic Nigerians as members to recommend suitable Nigerians and our friends for appropriate recognition. 7.The committee has done a patriotic duty by diligently going through over 5,000 submissions and coming up with these recommendations. 8.The patriotic Nigerians and our friends being honoured today, have distinguished themselves in various ways for the purpose of recreating a new Nigeria of our dreams through respect for the rule of law, image laundering, transparency and accountability in management of scarce resources. 9.Equally, those in the private sector have also creditably discharged themselves in business, entertainment, hospitality, transportation and other forms of human endeavours to transform

Nigeria. 10.We have amongst the recipients today, Amb. Prof. Tijjani Muhammad-Bande, Dr. Ngozi Okonjo Iweala, Ms. Amina J. Mohammed and Chimamanda Ngozi Adichie, who are doing our country proud on the international scene. Our dear sisters are a source of inspiration to our young women that through hard work and dedication, they can achieve greatness. 11.We also have on the list, Imam Abdullahi Abubakar, a religious leader who hid over 262 Christians in his mosque from attacks in Yelwa Gindi Akwati village, in Plateau State. He is a good example of religious tolerance we preach amongst Nigerians. I am excited that he is being honoured today with Member of the Order of the Federal Republic (MFR). 12.Worthy of mention are our Artistes, particularly, our very own Damini Ebunoluwa Ogulu (Burna Boy), who won the Grammy Awards in 2020. He along with other artistes have repositioned the Nigerian entertainment industry and placed it on the global map. At the just concluded Dubai Expo 2020, Nigeria’s pavilion was a beehive of activities as our musicians’ entertained guests from around the world. 13.Despite the present economic challenges, Nigeria still boasts of men and women of integrity; Ms. Josephine Agu, an airport cleaner returned $12,200 found in a toilet at Murtala Mohammed International Airport, Lagos as well as Ogbanago Muhammed Ibrahim, a bank security man who found and returned $10,000. Today, we celebrate their dignity and strong strength of character by conferring National Honours on them. They are a shining example to our younger generation. 14. I congratulate all the recipients today who will be joining the league of Awardees. I appreciate the non-Nigerian recipients and assure

all of you that this administration will continue to provide the enabling environment for you to undertake your lawful businesses to allow you sustain your efforts at contributing to the development of our nation, Nigeria. 15.The National Honours are not merely decorative. They remind us of an important part of our responsibility as citizens. We must always endeavour to do our best for our country. We will continue to root out all forms of banditry, criminality, terrorism and insurgency in the land. As I stated earlier in my Independence address to the nation, I will hand over a Nigeria that is free from insecurity to the next generation of leaders. 16.I want to specially commend the Chairman and members of the National Honours Award Committee for a job well done. The list of awardees is justifiably long, since this exercise has not been carried out since 2015. Your commitment to the process of screening and selection has been well guided. 17.Let me appeal to other Nigerians who are yet to receive this recognition to be patient and understand that their efforts in nation building are appreciated and at the right time, will similarly be recognized. 18. Excellencies, ladies and gentlemen, this administration will continue to partner with Nigerians and friends of Nigeria with like minds in our efforts to build the Nigeria of our dream where everybody will thrive to excel in their chosen fields devoid of parochial sentiments. Thank you very much for your presence and God bless the Federal Republic of Nigeria. r#FJOH UIF GVMM UFYU PG UIF TQFFDI EFMJWFSFE yesterday by President Muhammadu Buhari at the National Honours Award Investiture Ceremony at the International Conference Centre Abuja.

Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja . All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3085 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com