TUESDAY 26TH OCTOBER 2021 by THISDAY Newspapers Ltd

Politicians Still Influencing Judges to Use Court against Democracy Alexander Enumah Weeks after the Chief Justice of Nigeria (NJC), Justice Ibrahim Muhammad, who was angered by conflicting orders from courts of coordinate jurisdictions, issued a stern warning to judges on the need to act right in nation’s interest, it appears an end is not in sight

yet to the impunity of some of the judges and justices in the country. Unfortunately, the unsavoury dispositions of some of the justices and judges to democratic concerns, have continued to decimate the gains of the nation’s 23 years of unbroken civil rule. Even when they know full well they lack the jurisdiction to entertain the matters, they still

go ahead to hear and pronounce ruling, which becomes an albatross on the neck of the party it was obtained against. The submission of a majority of the people is that if the trend persisted, the fourth republic, which prides itself as the longest in the history of Nigeria’s democracy, might come to an abrupt end going

by the recent activities of desperate politicians and their cohorts in the judiciary. One of the recent indicators to this unending judicial rascality could be located in how some individuals had rushed to court to stop the forthcoming national convention of the Peoples Democratic Party (PDP) and the manner the courts

have been encouraging the resort to destabilisation. National Convention Organising Committee (NCOC) of the PDP raised the alarm about a suit filed at the Kaduna High Court, ostensibly to derail the October 30 and 31 national convention and advised party members to be wary of such disgruntled and misguided members

of the party. Although details of the suit have remained sketchy, it was allegedly filed by an aide to a former Vice President, Namadi Sambo. But the aide, said to be close to Secondus, has however denied having anything to do with the suit. Continued on page 16

Sylva: Oil Market Still Fragile for Additional Supply Volumes... Page 5 Tuesday 26 October, 2021 Vol 26. No 9696. Price: N250

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NSA: IPOB Must Not Test Our Will to Guarantee Peaceful Poll in Anambra We’re determined to proceed with election, says INEC

Chuks Okocha in Abuja, David-Chyddy Eleke in Awka and Gideon Arinze in Enugu

LAGOS GETS HEALTHCARE BOOST WITH DUCHESS INTERNATIONAL HOSPITAL...

L-R: Ogun State Governor, Prince Dapo Abiodun; wife of Reddington Hospital Chairman, Mrs Comfort Onabowale; Chairman, Reddington Hospital Group, Dr. Adeyemi Onabowale; Vice President, Prof. Yemi Osinbajo; Lagos State Governor, Mr. Babajide Sanwo-Olu and Governor, Central Bank of Nigeria, Mr. Godwin Emeﬁele, during the launching of Duchess International Hospital in Lagos….Friday PHOTO: ABIODUN AJALA

The National Security Adviser (NSA), Major General Babagana Continued on page 11

Buhari Unveils eNaira as CBN Launches Instrument to Support 300 Companies President says with digital currency, GDP will rise by $29bn in 10 years Nigeria first country to launch electronic money in Africa Emefiele: new intervention will jumpstart productive base of economy Reiterates Nigeria cannot fritter FX on cheap imports, currency speculators Deji Elumoye, James Emejo and Sonia Mayomi in Abuja In line with efforts to enhance the payment system and boost transactions, President Muhammadu Buhari yesterday launched the Central Bank Digital Currency (CBDC), also known as eNaira, in Abuja. This was as Governor

of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, unveiled a new financial instrument tagged, “The 100 for 100 PPP – Policy on Production and Productivity,” meant to stimulate activities in private sector companies in the country that would be selected. Continued on page 11

Access Signs Merger Deal UNVEILING CBN DIGITAL CURRENCY... L-R: Vice President, Professor Yemi Osinbajo, President Muhammadu Buhari and Governor, Central Bank of Nigeria, Mr Godwin with Zambian Bank ... Emeﬁele unveiling the Central Bank Digital Currency, the eNaira in Abuja ... yesterday Page 10

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NEWS

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

INAUGURATION OF THE WEST MARINA AND LIGHT-UP OF AZURI TOWER... L-R: Chairman, Eko Atlantic City, Ronald Chagoury; Lagos State Governor, Babajide Sanwo-Olu; MD/CEO, Eko Development Company, Wale Opayinka; Chairman, Chagoury Group, Gilbert Chagoury PHOTO: SUNDAY ADIGUN and Group Managing Director/CEO, Access Bank Plc., Herbert Wigwe, during the inauguration of the West Marina and light-up of Azuri Tower in Lagos... at the weekend

Sylva: Oil Market Still Fragile for Additional Supply Volumes Goldman Sachs expects $110 per barrel price to stifle demand, balance market

Emmanuel Addeh in Abuja

Nigeria supports the continuation of the ongoing monthly addition of 400,000 barrels per day by the Organisation of Petroleum Exporting Countries (OPEC), since the oil market is still too fragile to accommodate rash decisions, Minister of State, Petroleum, Chief Timipre Sylva, has said. In an interview with Bloomberg television on the sidelines of his current engagements in Saudi Arabia, Sylva stated that the switch from gas to oil by some countries because of skyrocketing prices of gas was responsible for soaring

oil prices. Describing the current price behaviour of gas as not very typical, he argued that there were some problems on the supply side, especially in Europe, explaining that any major action by OPEC should be in the first quarter of next year. “That's really what is responsible, but in spite of this substitution, we are seeing that the price of oil has not really moved beyond the point that it should have moved. So at this point we are still watching. “We're waiting to see the gas supply side normalising. If the gas supply side normalises, and we see that the price is still at this level,

Trading Volume on FBN Holdings’ Shares Rise By 127% Obinna Chima The volume of activities on the shares of FBN Holdings Plc, the parent company of First Bank Nigeria Limited rose sharply by 127 per cent to 350,541,662 on the Nigerian Exchange Limited (NGX) yesterday, compared with the 154, 395,251, reflecting the move by some of the major contenders for controlling interest in the financial institution to consolidate their stake. This led to a 2.45 per cent rise in the Holdco’s share price, from N12.25 per share as of last Friday, to close at N12.55 per share. THISDAY had reported yesterday that the battle for controlling interest in FBN Holdings Plc would intensify on the NGX going forward in line with the battle for the soul of the bank. Currently, the majority shareholders in the financial institution are the Chairman of Geregu Energy Group, Mr. Femi Otedola; Chairman of Globacom, Chief Mike Adenuga; current Chairman of FBNH, Mr. Tunde Hassan-Odukale, and Chairman of Honeywell Group, Oba Otudeko. It was expected that some of the major contenders would in the coming days continue to mop up more shares so as to increase

their stake in the bank. By his acquisition of 1,818,551,625 units of shares of First Bank Holdings Plc (FBNH), amounting to a 5.07 per cent of its total issued capital, Otedola, last week formally became one of the majority shareholders in the bank. As at March this year, Otudeko was also said to be holding a total of five per cent of the holdco’s total issued share capital. However, inside sources disclosed that Otudeko was currently in negotiation with Flour Mills of Nigeria Plc to sell Honeywell Flour, to partly pay off his loans at FBN Holdings. On his part, Adenuga is said to have been buying more shares and his shareholding was said to be between five and seven per cent. Similarly, Hassan-Odukale and related parties hold about 5.36 per cent stake in FBN Holdings. The companies include Leadway Assurance Company Ltd, ZPC/ Leadway Assurance Prem & Investment Coll Acct, Haskai Holdings Ltd, Leadway Capital & Trust Ltd and LAC Investments Ltd. Others are Leadway Properties &Investment Ltd, Leadway Holdings, OHO Investment/Oye Hassan-Odukale, and Leadway Pensure PFA.

then we will know that we have to do something about it. “We 'll watch for maybe the next quarter or so to see how the price of gas moves, but we believe that it's still some process to watch,” he noted. While admitting that Nigeria remains one of the countries that are over-complying and underperforming their OPEC production allocation, the minister pointed out that the oil industry in Nigeria was working hard to pump more barrels. “Our supply is actually lower now. We’re doing about 1.4 million barrels per day or so, not up to the quota that we have. So we’re actually working on that. There are lots of technical issues. When you shut down, it takes some time to bring them back up. “We are not just targeting to catch OPEC quota, now we’re actually targeting to increase production. That’s why we’ve started discussions with the rest of OPEC that we would like to be given a better reference to accommodate the kind of volumes that we expect to bring

on the market,” he stressed. On whether Nigeria supports additional volumes, Sylva noted: “I don’t think so. Like I said, it is still the process to watch. Let’s wait , we cannot take actions hurriedly. We’re just coming out of a COVID situation. The market is a little bit too fragile for you to take too many chances. So I think it’s still a process to watch. Let’s just ride the waves.” Speaking on the energy transition and growing calls for cleaner fuels, the minister argued that it’s not been an inclusive process because many countries, especially in Africa still don’t have access to basic electricity. “A large number of people are still without energy, a very large number of our people are still without energy. Right now as we are , about 80 per cent of our power generation is based on renewables. “And because we have mostly hydro, it is only recently that we started moving to generating power from gas, and just when we are beginning to get the hang of it, they are saying no, let’s not

generate power through gas, let’s move to solar. “We feel that solar is still not one of those technologies that we can depend on to be able to achieve our energy base-load. And so what we want to focus on is to develop abundant gas resources so that we can now use gas as a transition fuel, while working on the development of renewables. “We are not discounting the development of renewables. We would like to develop renewables, and in fact we are developing renewables, but can the renewables, as we’re developing it now bridge the gap between the energy distribution in the energy distribution system. We don’t think so,” he maintained. Meanwhile, Goldman Sachs has said a strong rebound in global oil demand could push Brent crude oil prices above its year-end forecast of $90 per barrel. The U.S. investment bank said it expected oil demand will shortly reach pre-COVID-19 levels of around 100 million barrels per day (bpd) as consumption in Asia rebounds

after the Delta COVID-19 wave. In addition, the bank estimated gas-to-oil switching may contribute at least 1 million bpd to oil demand. “While not our base-case, such persistence would pose upside risk to our $90/bbl year-end Brent price forecast,” Goldman said in a research note dated October 24. Tight global supply and strong demand have pushed oil prices to multi-year highs, with U.S. West Texas Intermediate crude futures trading at $84.38 a barrel and Brent crude futures at $86.26 by 0731 GMT on Monday. “We would need prices to rise to $110 /bbl to stifle demand enough to balance the market deficit we currently see in 1Q22 given our expectation that OPEC+ continues on the current path of +0.4 mb/d per month increases in quotas,” it stated OPEC, Russia and their allies, known as OPEC+ earlier this month said it would continue an existing deal under which it agreed to boost output by 400,000 bpd a month until at least April 2022.

Report: e-Commerce Will Hit $75bn by 2025 Dike Onwuamaeze Agusto & Co, has predicted an influx of new entrants into the small and medium scale enterprises (SMEs) segment of the Nigerian economy. It also estimated that Nigeria recorded a volume of $12 billion transaction on online purchases in 2020, and projected that online transaction might hit $75 billion mark by 2025. These predictions were contained in its latest report titled: “2021 Small and Medium Sized Enterprises (SMEs) Report,” that covered three key segments, namely the e-retailing, cement distributorship and apparels. It stated: “Our outlook for the SME industry remains stable. We believe the nation’s escalating inflation rate will continue to dampen consumer disposable income and affect the demand for goods and services in the short to medium term. “Nonetheless, we expect the rising unemployment level in

the country as well as gradual reopening of the economy to encourage an influx of new players into the SME industry. “The importance of the SMEs industry cannot be overemphasised given its significant contribution to the national workforce and the economy as a whole. Thus, we expect to see sustained attention from the government, with intervention programs to support the expansion of the sector.” The report stated that the growing surge in e-retailing would continue to see an upward trend and would be buoyed by the uptick in digital payments that have been growing, “on the back of the spread of information technology with internet penetration increasing to 46.6 per cent in 2020 from 23.7 per cent in 2015.” It said: “Consumer spending on online purchases is estimated to stand at $12 billion in 2020 and is expected to reach $75 billion by 2025. Through e-commerce,

players enjoy a wider customer reach with the ability to simultaneously connect to millions of consumers locally and globally. “We note that the emergence of COVID-19 positively impacted the sector, with players recording a gush of customer orders particularly during the lockdown period. “We expect this trend to continue into the emerging post COVID-19 era premised on the rising rate of adoption of online shopping by consumers on the back of the relative convenience it offers.” The report also acknowledged the oligopolistic nature of the Nigerian cement market that is dominated by Dangote Cement Plc, Lafarge Africa Plc and BUA Cement Plc. It concluded that “cement distributors have limited choices on which brands to stock and have little control over the price. “Nonetheless, the ready demand for the product compels interest in delving into the cement

trade.” The report stated that the dynamics of distributing cement in Nigeria would revolve around the activities of wholesalers, retailers, and arbitragers that could source cement supply contracts from construction companies and link them with wholesalers to make the delivery. It said: “Agusto & Co. notes the key success factors for the segment to include strategic marketing, good transportation system and flexibility to move the business to where customer demand is high.” The report noted that the apparel market was still struggling, having recorded, “a 7.6 per cent decline in the real GDP of the textile, apparel and footwear segment to N1.3 trillion” in 2020. It, however, believed that “the apparel sector has considerable potential particularly for second-hand clothes, which is relatively affordable and appeal to price-conscious customers given the nation’s economic realities.”

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NEWS

EKITI GETS A BEFITTING GOV’S LODGE/LIAISON OFFICE...

L-R: Ekiti State Governor, Dr. Kayode Fayemi; Lagos State Governor, Mr. Babajide Sanwo-Olu; Niger State Governor, Alhaji Abubakar Sani Bello; Senator Tokunbo Aﬁkuyomi and Secretary to the Ekiti State Government (SSG), Biodun Oyebanji, during the cutting of the tape to inaugurate the Ekiti State Governor’s Lodge/Lagos Liaison Oﬃce, at Oduduwa Crescent, GRA Ikeja... yesterday

Buhari: Peace Returning to Troubled Areas Urges Nigerians to celebrate gallantry of nation’s troops Deji Elumoye in Abuja President Muhammadu Buhari has disclosed that peace has started returning to troubled areas in the country, which according to him, were faced with terrorism and banditry attacks in the past. This is just as the president emphasised the need for Nigerians to always celebrate with pride the exploits of the military to keep the nation united. Buhari, who spoke at the State House, Abuja, yesterday, during the 2022 Armed Forces Remembrance Day emblem appeal launch, said the Nigerian Armed Forces have effectively applied themselves to countering all attempts by the nation’s enemies to disturb the country's peace. He stressed that places that were hitherto inaccessible and deserted have now been occupied by citizens who have returned to their normal homes. According to him, the renewed onslaught on bandits in the northwest had resulted in the military daily receiving insurgents who are voluntarily laying down their arms. ''We are not going to be satisfied until peace is finally restored to every inch of our land,'' he stated. The president also lauded the exploits of the Nigerian Armed Forces to maintain peace, unity and stability in the country, urging Nigerians to celebrate them as the pride of the country. Paying glowing tribute to

veterans who devoted most of their active lives to securing the nation and the world, particularly those who paid the supreme sacrifice, President Buhari said: ''Our country’s efforts at nationhood since independence have been challenged by civil strife, a civil war and much uprising and violent agitations. ''However, in spite of all these, the country has remained united and the resolve of the citizens for unity remains unshaken. ''The exploits of our Armed Forces to maintain peace as well as their disposition to the unity of Nigeria have contributed in no small measure to our stability. ''We must therefore celebrate them as the pride of our country. Our faith in our Armed Forces remains unshaken and as a government we will do all within our powers to ensure that our Armed Forces are motivated to perform optimally. ''They have time and again demonstrated unparalleled patriotism, courage, loyalty and commitment as they grapple with the daunting challenges of defending Nigeria’s territorial integrity.'' President Buhari described the emblem as a sign of the sacrifices and blood shed by officers and men of the Armed Forces for peace and security of Nigeria. ''It is also a sign of our resolve to remain united as a nation and confront any challenges we may face. It is a sign of our resolve to

say no to divisions and embrace one another as a united indivisible country,'' he added The president called on all Nigerians to make generous donations to the Nigerian Legion, support the widows and orphans of the fallen heroes, procure the emblems and wear them with pride. "The same call goes to all visitors and friends of Nigeria as well as corporate bodies operating in Nigeria,'' he said. On the Nigerian Legion, the president noted that the need to

maintain the comradeship that existed during the service among officers and men of the Armed Forces led to its establishment through an Act of the National Assembly. He commended the Nigerian Legion for living up to its mandate of catering for the welfare of ex-servicemen and those that distinguished themselves in the wars Nigeria participated in. The president stated that the veterans' organisation has remained a veritable pool of abundant and

Hospitality and tourism business in Nigeria have been seriously endangered by kidnapping and the COVID-19 pandemic, making operators to suffer, the Proprietor of the Prosperous Royal Hotels and Resort, Ado Ekiti, Ekiti State, Mr. Abiodun Isinkaiye has said. Isinkaiye said the business has always been battling with the persistent issue of epileptic power supply in Nigeria, adding that the increasing cases of abduction and COVID-19 pandemic, had further worsened the situation. He said this while speaking with newsmen on behalf of his colleagues, as part of the activities lined up for the 2021 annual public lecture and awards presentation by the Nigeria Union of Journalists

Correspondents' Chapel, Ekiti Council, slated for October 28, in Ado Ekiti. Isinkaiye appealed to President Muhammadu Buhari and the state governors to work hard to tame the rising cases of killings by unknown gunmen, which he said had severely affected the hospitality sector. He said: "Management of hotels business had always been a problem in Nigeria in view of epileptic electricity supply we have been facing for long. We rely on diesel as a source of power, which reduces our profit margin because power supply has to run for 24 hours to give our customers comfort. "As we were still trying to cope with that, the COVID-19 and kidnapping reared their

to the socioeconomic development of our country through engagement in productive ventures thereby generating employment opportunities for themselves and other Nigerians. ''This is a further testimonial to the patriotism of these Nigerians. They have demonstrated abiding faith in Nigeria and its development. We sincerely commend them and all Nigerians who have continued to believe in Nigeria by making it their investment destination,'' he said.

Fashola Calls for Audit of All Privatised Govt's Assets 234 public enterprises successfully transferred to private entities, says DG, BPE

Adedayo Akinwale in Abuja The Minister of Works and Housing, Mr. Babatunde Fashola has called for the audit of all government's assets that had been concessioned or privatised. He said there were certain assets that the private sector had not been unable to deal with. Fashola stated this yesterday in Abuja, at a public hearing organised by the House of Representatives Committee on Privatisation and Commercialisation of Government Assets. The minister stated that he was not against privatisation, but wondered why any time the country has a developmental problem, the silver bullet is given to the private sector,

Public Private Partnership (PPP). Fashola said: "The first thing I want to ask is that, of all the assets that we have disposed of and the reasons for disposing them or for commercialising them or for privatising them, have we achieved the objective that we set out to achieve? I think we should ask that question. "And I think apart from making this law, that undertaking would be a profound service to Nigeria, so that all of us will have a very clear understanding of the capacity, ability and what is realistic to expect of the private sector." The minister stressed that there was need to be more circumspect about certain types of assets that were being concessioned or privatised. Fashola added: "I think that it

Kidnapping, COVID-19, Crippling Hospitality Business, Say Hoteliers Victor Ogunje in Ado Ekiti

diverse human resources. ''I have the pleasure to acknowledge the contributions of retired officers and men of the Nigerian Armed Forces to the ongoing war on insurgency. ''The government will continue to welcome these vital contributions. I charge the Ministry of Defence to continue to promote the engagement of our retired officers and men in seeking avenues of contributing to our national affairs. ''I am glad to note that the Nigerian Veterans have contributed

ugly heads. The two had really affected hospitality business in Nigeria negatively, in fact, we can't quantify the hardship that we are facing in the sector, it is of highest order. "Since the two started in full force, business environment has changed. The number of visitors to our facilities have reduced, fearing that they could be kidnapped or contracted COVID-19 virus.” He added: "When those who are visiting the state from the government or corporate world are to be five, the management will cut down the number to two because of these challenges and these are the people we rely mostly for patronage. "Except we are deceiving ourselves, it has not been easy with the operators of this business

in recent times. Again, though we are not getting many visitors and the few ones we get must be safe and secured, and this makes us to also invest more in providing security so that our visitors are not kidnapped. "The government also is enforcing COVID-19 compliant in all facilities. We are investing more monies buying sanitisers and other facilities that are making safety protocols easier, which gulped huge amount of money and constituting huge burden to us." Isinkaiye described hospitality as an employment-generating sector in the country that requires attention of the government at all levels. The proprietor also pleaded with government for more patronage, to ensure the survival of the business in Ekiti State.

would be helpful to have an audit of all the assets that have been concessioned or privatised in the name of improved efficiency and then to ask, ‘have we achieved that objective?’ I think if we do that and interrogate very honestly, some of the things that would begin to become obvious to us is that we need to be more circumspect about certain types of assets." He also said there was a need to have a clear understanding of the type of assets that are easily amenable to PPP, saying not all assets are easily amenable. Fashola added: "Let us take two highways that we offered for PPP. The Second Niger Bridge was conceived as a PPP. The Lagos-Ibadan expressway was conceived as a PPP. But if we had asked a very basic question at the time – N200 billion plus projects, which bank in Nigeria has ever lent N200 billion to any individual? We asked that question and we knew that it was not the way to go. "The Lagos-Ibadan expressway in 2006 and the Second Niger Bridge in 2010; nothing significantly happened on those projects until 2016. So, we lost like 10 years before this administration now started funding directly. Again, like I have said, I have nothing against PPP; there are just classes of assets that are social assets, and that is the responsibility of government." Also, the Chairman of the Committee, Hon. Ibrahim Misau, said the policy of privatisation and commercialisation over the years had been dogged with numerous setbacks despite its good intentions. He said it was based on this that the House was proposing a more potent bill to replace the existing one for improved efficiency and

management of the nation's public assets. On his part, the Director General, Bureau of Public Enterprises (BPE), Mr. Alex Okoh, agreed with Fashola that not all public infrastructure and assets needed to be privatised. He stressed that those that needed to be privatised or concessioned needed to be guided by clear and robust piece of legislation. According to him, “We are in a precarious situation. The country has only recently emerged from recession following the destructive impact of COVID-19 pandemic. However, the resultant constraints in the fiscal space are still very much evident. “Our debt stock is rising while our revenue is declining. This trend becomes more worrisome when considered against certain key economic indices.” He said Nigeria's debt to GDP ratio was on average 34 per cent which is higher than the international threshold of 30 per cent. The director-general said debt service to revenue ratio was 98 per cent, far above the World Bank’s threshold of 22.5 per cent. Okoh noted, "Notwithstanding this gloomy reality, there is still the possibility of emerging from this dark tunnel and into the light of economic prosperity by seeking to put in place a credible and robust mechanism to reset and reform the economy especially a robust asset optimisation and public, private partnership framework to attract private capital into infrastructure development, thereby stimulating economic growth. "From inception to date, a total of 234 public enterprises have been successfully reformed by way of privatisation, commercialisation and in some cases, concession."

T H I S D AY • TUESDAY, OCTOBER 26, 2021

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NEWS

OBA AJAYI TAKES OVER AS CHAIRMAN OF OGUN COUNCIL OF OBAS... L-R: Akarigbo and paramount ruler of Remoland, Oba Babatunde Adewale Ajayi; Alake and paramount ruler of Egbaland, Oba Adedotun Gbadebo; Ogun State Governor, Prince Dapo Abiodun and the Olu and paramount ruler of Yewaland, Oba Kehinde Olugbenle, during the inauguration of Oba Ajayi as the new Chairman of the Ogun State Council of Obas at the Obas Complex, Governor’s Oﬃce, Oke Mosan, Ogun State... yesterday

Access Signs Merger Deal with Zambian Bank Darasimi Adebisi Access Bank Plc yesterday announced that it has executed a binding agreement with Atlas Mara Limited on a proposed

merger between African banking Corporation Zambia Limited (Atlas Mara Zambia) and the bank’s subsidiary in Zambia, Access Bank Zambia Limited (Access Bank Zambia).

The Company Secretary, Access Bank, Sunday Ekwochi, in a statement on the Nigerian Exchange Limited (NGX), stated that upon the completion of the prospective transaction, the bank

was expected to increase its current shareholding in Access Bank Zambia, which following the merger would have over 70 branches and agencies, approximately $1billion total assets

IllegalConstruction:LagosBuildingControl Seals More than 40 Structures in Lekki

Segun James

The Lagos State Building Control Agency (LASBCA) has taken its enforcement drive to Sapata Town, along the Eti-Osa Regional Road in Ibeju-Lekki area of the state, where more than 40 residential buildings were sealed for contravening the state's building construction law. The Commissioner for Physical Planning and Urban Development, Dr. Idris Salako, who personally led the exercise, said it became necessary to carry out the enforcement as owners/ developers of the estate were not building according to physical planning laws and building codes of the State. Salako pointed out that most of the owners /developers in the axis indulge in indiscriminate development of buildings without necessary documentation and approvals, thereby distorting the layout of the area through haphazard construction without drainages, setbacks and other major facilities. He noted that despite several engagements with the owners/ developers to stop all illegal construction works, government notices and directives were ignored, stressing that shunning building codes was not permissible to avoid building collapse. "Over the past few weeks, we have had cause to interact with the developers and even issue Press Statement, asking them to stop work on their sites but they blatantly refused and continued their illegal activities," he added. The Commissioner main-

tained that the Lagos State Government, being interested in the wellbeing of every Lagosian, would leave no stone unturned in ensuring that Lagos buildings are safe, secure and habitable for present and future generations. On his own part, the General Manager, Lagos State Building Control Agency (LASBCA), Gbolahan Oki, said the agency

was being proactive to nip in the bud cases of building collapse by quickly identifying and stopping illegal developments before completion. Oki said prior to the sealing, the owners/developers had been issued notices on the contraventions and asked to stop work but all the notices were ignored, prompting the agency to take action by sealing

and removing part of buildings inimical to the well-being of the inhabitants. He further said the agency would continue to do its best by ensuring that owners/developers build right by obtaining all necessary approvals while involving LASBCA in every stage of their building projects to reduce the menace of building collapse in Lagos.

and over 300,000 customers in Zambia. According to him: “The transaction will not require significant additional capital investment requirements from the bank given the capital and other synergies created from the merger between Access Bank Zambia with Cavmont Bank in 2020. “The proposed transaction is expected to be concluded in 2022, subject to fulfilment of conditions precedent including regulatory approvals in Nigeria and Zambia.” Commenting on the new deal, the Group Managing Director/ Chief Executive Officer, Access Bank, Dr. Herbert Wigwe said: “This transaction represents another milestone that brings us closer to the achievement of our broader strategic objectives.

“The merger of Atlas Mara Zambia with Access Bank Zambia is expected to augment our presence in Zambia and the broader COMESA region, Africa’s largest free trade area. “We are particularly excited by the prospects of increased earnings contribution to the bank from the enlarged Access Bank Zambia, which has also announced the appointment of a new managing Director, Mr. Lishala Situmbeko, who brings over 25 years of cognate experience and deep local relationships into our Zambian operation. “Today’s announcement is a testament to the strong confidence of the Zambian market in the Bank’s country and regional strategy as well as our strong confidence in the long-term prospects for the Zambian economy.”

UBA’s Gross Earnings Hit N490bn in Q3, Profit Rises by 37% James Emejo The United Bank for Africa (UBA) Plc yesterday announced impressive performance in its unaudited financial results for the third quarter (Q3) ended September 30, 2021. Specifically, the bank’s gross earnings rose to N490.3 billion, up from the N454.4 billion recorded in September 2020, while operating income grew by 13 per cent year-on-year to close at N331.7 billion as at September 2021, up from N293.7 billion achieved a year earlier. In the report filed with the Nigerian Stock Exchange (NSE) yesterday, UBA reported a 37 per cent rise in profit before tax to close at N123.4 billion, compared to N90.4 billion recorded at the end of the third quarter of 2020, while profit after tax rose by 36 per cent to N104.6 billion, up from the N77.1 billion recorded a year earlier. The bank’s annualised return on average equity for Q3 2021 stood at 19.2 per cent, compared to the 16.4 per cent recorded

in the similar period of 2020. UBA continued to maintain a very strong balance sheet, with total assets of N8.3 trillion, which was an eight per cent increase over the N7.7 trillion recorded at the end of December 2020, just as the bank benefitted largely from its technology-led initiatives targeted at improving customer experience over the past few years, with customer deposits rising to N6.1 trillion, representing a 7.2 per cent increase from N5.7 trillion at the end of the last financial year. The shareholders’ funds remained very strong at N798.3 billion up by 10.3 per cent from N724.1 billion recorded in December 2020, thus reflecting a strong capacity for internal capital generation and growth. Commenting on the results, the Group Managing Director/CEO, UBA Plc, Kennedy Uzoka said: “Once again, the bank has shown resilience in delivering on its commitment to shareholders, stakeholders, and the investing public, evident in the strong positive financial

metrics recorded in the reporting period. “Particularly, gross earning was up eight per cent to N490.3 billion in the nine-month period, mirroring the improvements seen in both the domestic and international economies as countries roll out vaccines, helping to return economic activities nearer to pre-pandemic levels. Similarly, our profit before tax was up by a record 37 per cent to N123.4 billion, with an annualised RoAE of 19.2 per cent, showing our renewed commitment to creating more value for our shareholders,” Uzoka explained. The GMD pointed out that UBA’s prudent approach to risk management and the efficacy of its digital-first customer-centric business strategy, helped in keeping loan growth steady at double-digit, while still being able to moderate our cost in the period, adding, “Through the help of our digital-first strategy, we were able to increase the number of our agent network in the period by over 140 per

cent, increasing our controlling stake in the market.” Speaking on the expectations for the rest of the year, Uzoka said, “Looking ahead, we believe our huge investments in digital business following lessons learnt from the pandemic, will continue to pay off in delivering significant growth opportunities across our business operations even as the economy speedily heals from the impact/effect of the pandemic. “We will continue to remain a bank holding company, leveraging on our robust balance sheet and diverse customer-base to deliver (above the expectation of our shareholders) sound rewards to our shareholders.” Also throwing more light on the bank’s financial performance and position, the Group Chief Finance Officer, UBA, Ugo Nwaghodoh said: “The performance reflects our progressive efforts in building on our robust balance sheet, strong customer base and our people, in delivering impressive earnings.

“Particularly, I am pleased at the 90bps improvement in Cost of Funds (CoF) from 3.2 per cent to 2.3 per cent in the period. This was despite the increase in our customer deposits by 7.2 per cent to N6.1 trillion, portraying the bank’s deliberate effort to substitute high-cost funds for low-cost deposits.” He noted that UBA has continued to optimise its digital banking offerings, which has been paying-off hugely as evident in the 50.4 per cent growth to N41.9 billion in income from electronic banking. “As we continue to pursue a cautious loan growth strategy in 2021, we have strategically maintained strong capital adequacy and liquidity ratios at 23.9 per cent and 43.9 per cent respectively, ensuring adequate buffer to withstand impending shocks and good headroom for growth and the Bank will sustain this growth momentum, to ensure we consistently deliver sustainable value to our valued stakeholders,” the GCFO explained.

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ELEVEN BUHARI UNVEILS ENAIRA AS CBN LAUNCHES INSTRUMENT TO SUPPORT 300 COMPANIES Buhari said during the launch of the digital currency that with the introduction of eNaira, the country's Gross Domestic Product (GDP) was projected to rise by $29 billion in the next 10 years. He stressed that Nigeria was the first country in Africa and one of the first in the world to introduce digital currency. The president stated, "Indeed, some estimates indicate that the adoption of CBDC and its underlying technology, called blockchain, can increase Nigeria’s GDP by US$29 billion over the next 10 years. "CBDCs can also help increase remittances, foster cross border trade, improve financial inclusion, make monetary policy more effective, and enable the government to send direct payments to citizens eligible for specific welfare programmes.” The president assured Nigerians of the safety and scalability of the CBDC. He disclosed that the journey to create a digital currency for Nigeria began in 2017. According to him, ''Work intensified over the past several months with several brainstorming exercises, deployment of technical partners and advisers, collaboration with the Ministries of Communication and Digital Economy and its sister agencies like the Nigerian Communications Commission (NCC), integration of banking software across the country and painstaking tests to ensure the robustness, safety and scalability of the CBDC System.” The president also explained why he supported the initiative, saying in recent times, the use of physical cash in conducting business and making payments has been on the decline. The decline was exacerbated by the advent of the COVID-19 pandemic and the resurgence of a new digital economy, stressed. Buhari stated, “Alongside these developments, businesses, households, and other economic agents have sought for new means of making payments in the new circumstances. “The absence of a swift and effective solution to these requirements, as well as fears that central

banks’ actions sometimes lead to hyperinflation created the space for non-government entities to establish new forms of ‘private currencies’ that seemed to have gained popularity and acceptance across the world, including here in Nigeria. ''In response to these developments, an overwhelming majority of central banks across the world have started to consider issuing digital currencies in order to cater for businesses and households seeking faster, safer, easier and cheaper means of payment. “A handful of countries, including China, Bahamas, and Cambodia, have already issued their own CBDCs. A 2021 survey of central banks around the world by the Bank for International Settlements (BIS) found that almost 90 per cent are actively researching the potential for CBDCs, 60 per cent were experimenting with the technology, and 14 per cent were deploying pilot projects. “Needless to add, close monitoring and close supervision will be necessary in the early stages of implementation to study the effect of eNaira on the economy as a whole. ''It is on the basis of this that the Central Bank of Nigeria (CBN) sought and received my approval to explore issuing Nigeria’s own Central Bank Digital Currency, named the eNaira.” The president also said CBN’s reputation as a leading innovator, “in the form of money they produce, and in the payment services they deploy for efficient transactions,” inspired him to approve eNaira. He noted that Nigeria’s apex bank had invested heavily in creating a payment system that was ranked in the top 10 in the world and, certainly, the best in Africa. Buhari explained, “This payment system now provides high-value and time-critical payment services to financial institutions, and ultimately serves as the backbone for every electronic payment in Nigeria. “They have also supported several private-sector initiatives

to improve the existing payments landscape, and in turn, have created some of the world’s leading payment service providers today.” Emefiele said with the new initiative, CBN would advertise, screen, scrutinise and financially support 100 targeted private sector companies in 100 days, beginning from November 1. Under the initiative, the CBN governor said, a new set of 100 companies would be rolled out every 100 days and their names would be published in the national dailies for Nigerians to see and confirm. He said the new initiative would be managed by the CBN Development Finance Department, under his direct supervision. The CBN governor pointed out that the initiative would be the best and most sustainable way to strengthen the value of the naira, insisting that what the country requires is production and more production. Emefiele explained, "Working through banks, the financial instrument will be available to their customers in critical areas to boost the production and productivity, and to immediately transform and jumpstart the productive base of the economy. "After these 100 projects by companies in the first 100 days from November 1, we will take the next 100 companies/projects for another 100 days beginning February 1, 2022, and then another 100 companies for another 100 days beginning from May 1, 2022." He said the instrument was part of measures to reverse the country's overreliance on imports, adding that the country cannot afford to waste its reserves on cheap imports and currency speculators. Emefiele also assured that there was no cause for alarm over foreign exchange (FX) availability in the country, pointing out that the country's FX reserves are strong and, "indeed, getting stronger by the day, crossing the $40 billion mark, and is one of the highest in Africa – and growing." On the bank's latest intervention to support companies, the CBN

governor said, "We believe that if we target and support the right companies and projects, we will see a significant, measurable and verifiable increase in local production and productivity, reduction in certain imports, increase in non-oil exports, and improvements in the FX-generating capacity of the economy." Emefiele stated that the current challenges with the country's exchange rate started since the advent of the International Monetary Fund (IMF) led Structural Adjustment Programme (SAP) in 1986, and the introduction of the Second Tier Foreign Exchange (SFEM) market. He said the local currency had been on a one-way free fall from parity to the US Dollar in 1984 to over N410/USD today. He said about 35 years later, Nigeria had not been able to achieve the many promises and objectives of that programme. "Instead, what we have seen is widespread import dependency, which have wiped out most of our production and manufacturing bases and exported all our jobs in the process,” he said. Emefiele queried, "What has happened to the massive textile factories across our nation, such that we import almost all cotton products when we are rich in cotton? "What has happened to our vehicle assembly plants across the nation such that we import most vehicles and have become a massive dumping ground for dying second-hand vehicles? "What has happened to our rubber plantations through which we made the best tyres and rubber products in the world? What has happened to our groundnut pyramids? What has happened to our cocoa farms? What has happened to our palm oil mills?" He said, "We must return to massive home-made production; we must get our people working again. We must create the economic environment for massive domestic production and significant non-oil exports." The CBN governor said

NSA: IPOB MUST NOT TEST OUR WILL TO GUARANTEE PEACEFUL POLL IN ANAMBRA

Monguno, yesterday, warned that nobody or group should test the resolve by the federal government to guarantee the November 6 gubernatorial election in Anambra State. The NSA, who spoke at a meeting of inter-security agencies for the elections, where the INEC chairman, Prof. Mahmood Yakubu also said the commission was determined to ensure that the Anambra election takes place as scheduled, because according to him, 12 out of 14 items had already taken place. Also, a coalition of civil society organisations based in the South-east has waded into alleged plans by separatist group, the Indigenous People of Biafra (IPOB) to disrupt the forthcoming Anambra governorship election slated for November 6. Monguno, who was the cochairman of election security in Nigeria, spoke against the backdrop of threat by the Indigenous People of Biafra (IPOB) to disrupt the exercise and warned that, "For those of us in security, we have already done what we are supposed to do. "All security agencies have been asked to conduct themselves well in a professional manner and exhibit the highest level of professionalism and restraint and operate within the confines of the law, not in any way that will jeopardise the exercise. "We are going to ensure that the people of Anambra undergo this exercise without any incident. We want to offer brotherly advice to our brothers, who want to destabilise the process to think again. We are all eager to achieve results that will be acceptable to everybody. I don't think it will be right for anyone to ignite crisis. Please, think again. "Yes, the law enforcement agencies will not sit by and allow people terrorise people, commit homicide. They have been told to watched out for these elements. I am appealing to you to stay in

your wards and local governments and behave yourself. Anyone that wants to disrupt the process will be brought to book," the NSA warned. Reiterating the importance of the November 6 governorship election, Monguno said, "We all know how important it is for us. Election is number one legitimate right of every citizen and we must not deny them that right in an atmosphere devoid of rancour and violence. Just like the chairman said, we need to do better than what we did in Edo and Ondo," he declared. On the casualties so far suffered by security agencies and INEC staff in Anambra State, the NSA said, "I know you have gone through a lot of pains, but don't allow that to dampen your spirit or get into lethargy. I wish you fruitful deliberations." The INEC chairman, speaking earlier, said, "Our deployment of non-sensitive materials and training of personnel for the election have virtually been concluded. The Commission has successfully accomplished 12 out of the 14 activities listed in the Timetable and Schedule of Activities for the election released in January this year. "The two outstanding activities are the last day of campaign, at midnight on Thursday 4th November 2021 and Election Day, which remains Saturday 6th November 2021. The REC for Anambra State is here to fully provide an update on the implementation of other activities and INEC’s general state of readiness for the election. "INEC is determined to proceed with the Anambra State Governorship election as scheduled. The safety and protection of voters, our personnel, accredited observers, the media and materials are cardinal considerations in any election. We have been assured by the security agencies of a secure environment for the election. “I am sure the Commissioner Police, Anambra State, in his briefing, will provide more details

regarding preparations on the ground. I wish to place on record the continued support of security agencies to the Commission during elections. Particularly noteworthy is the high level of professional conduct of the agencies in the last two major elections in Edo and Ondo States. Indeed, Edo and Ondo have become the standard for securing elections in Nigeria. "The professionalism and neutrality exhibited by the security agencies in the two elections have been widely praised nationally and internationally. We are confident that this will be replicated in Anambra State," Yakubu said. He, therefore, commended the security agencies for the support INEC had received from religious, traditional and community leaders for peaceful elections. He said the commission was also working with the National Peace Committee under the leadership of a former Head of State, General Abdulsalami Abubakar, to bring all political parties and candidates for the Anambra State Governorship election to commit to peace before, during and after the election. Yakubu later introduced two national commissioners sworn in yesterday. They are Kunle Cornelius Ajayi, a Professor of Political Science at the Ekiti State University and Muhammad Sani Kallah, a retired Professor of Ecology and Range Management at the Ahmadu Bello University Zaria. They are the new national commissioners representing the South West and North West geo-political zones respectively. But the civil society groups in the South-east, under the umbrella of Coalition of Southeast Democracy and Human Rights Organisations (CSBDHROs) said the action of the separatist group was targeted at the Anambra election. Addressing newsmen yesterday in Enugu at an International Press Conference, the organisations said disrupting the Anambra election would not be of any benefit to

their struggle, rather, it would aid emergency rule, that would not be to the advantage of Anambra people. Chairman Board of Trustees of International Society for Civil Liberties and the Rule of Law (Intersociety), Mr Emeka Umeagbalasi, who addressed journalists on behalf of other rights organisations, called on IPOB to rescind their decision, while also calling for the release of Nnamdi Kanu. “We are calling on our brothers (IPOB) not to toe that line (disrupting election). When a group tells you that they will lockdown the South East from November 4 to November 10, and we know that Anambra has election on November 6 and November 7, what does that tell you? The election is the target. “We want to tell the IPOB people that nobody knows it all. We have been fighting their cause for a long time, because we know that what they are doing is within their fundamental human right. But we want to tell them that once in a while, they should make consultations. “They should sometimes reach out to people like us. The people you see here are leaders of CSOs, and seminal thinkers in the South east, ideas are our currency. We implore them to come to us and exchange ideas once in a while, because no one knows it all.” The groups said to disrupt the election by announcing a sit-at-home exercise on that day would mean calling for emergency rule in the state, which they said would ultimately give the state to the federal government and allow them to impose anyone on her, and that would not be fair. “That would allow the election to be massively and scientifically rigged or to be stopped will be disastrously calamitous and place the state under ‘Khaki or Agbada Caliphate’ and ‘a nomadic rainforest state’,” Umeagbalasi appealed to the secessionists.

the country must return to an employment-led growth anchored on productivity and rewarding producers of local goods, services, innovation and new technologies. “If you consume cheap imports and export our jobs, we will make you pay dearly; but if you produce locally – with little or no foreign inputs beyond machinery – we will support you, and the markets will reward you abundantly." He said the 100 PPP policy was in addition to other policies and interventions of the CBN meant to support the economy, especially, through the trying times of COVID-19. Emefiele said with growing interest in CBDC around the world, the CBN had commenced extensive study, consultations, identification of use cases and the testing of the CBDC concept in a Sandbox environment as far back as 2017. He said the objective of the research was to establish a compelling case for the adoption of a digital currency in the country to enable a more prosperous and inclusive economy for all Nigerians. He added that following the completion of the preliminary work, the researchers and experts at the CBN were able to establish that a digital currency will drive a more cashless, inclusive, and digital economy as well as complement the gains of previous policy measures and the fast growing payment platforms. CBN decided to implement its own CBDC and to name the digital currency eNaira, with the expectation that the innovation would make significant positive difference to Nigeria and Nigerians, he stated. Emefiele said the eNaira would support a resilient payment ecosystem, encourage rapid financial inclusion, reduce the cost of processing cash, enable direct and transparent welfare intervention to citizens and increase revenue and tax collection. He said eNaira would also facilitate diaspora remittances, reduce the cost of financial transactions, and improve the efficiency of payments. Emefiele added, “Therefore, the eNaira is Nigeria’s CBDC and it is the digital equivalent of the physical naira. As the tagline simply encapsulates, the eNaira is the same naira with far more possibilities. “The eNaira – like the physical naira – is a legal tender in Nigeria and a liability of the CBN. The eNaira and naira will have the same value and will always be exchanged at one naira to one eNaira." Emefiele said in a bid to further de-risk the process, CBN had given careful consideration to the entire payment and financial architecture and designed the eNaira to complement and strengthen these ecosystems. He said the bank had also implemented safeguards and policies to maintain the integrity of the financial system. The CBN boss added that there would be strict adherence to the anti-money laundering and combating the financing of terrorism (AML/CFT) standards in order to preserve the integrity and stability of Nigeria’s payment system. He said since the eNaira platform went live, there had been overwhelming interest and encouraging response from Nigerians and others across the world, with over 2.5 million daily visits to the website. According to him, 33 banks are fully integrated and live on the platform while N500 million had been successfully minted by the central bank, including N200 million, which had been issued to financial institutions. Emefiele said over 2,000 customers have been on-boarded while120 merchants had successfully registered on the eNaira platform. He said, "Today, customers who download the eNaira Speed Wallet App will be able to perform the following: Onboard and create their wallet, fund their eNaira wallet from their bank account, transfer eNaira from their wallet to another wallet, and make payment for purchases at registered merchant locations." Emefiele acknowledged there was a continuing debate on the true value of the naira, adding, "rather than worry today on the

direction of the exchange rate, let us take a step back and analyse how we got here, in the first place." He commended the CBN staff that worked tirelessly to deliver on the central bank's numerous projects. Speaking further in an interview with THISDAY, Emefiele said, "We would not embark on a project where we have not really dimensioned the risks; you identify risks and you now measure the risks and then we think about how to manage the risks and we have looked at it. "There is no need, absolutely no reason for anybody to be afraid of the risk of even hacking your account and the rest of that." He added, "This morning I set up my account and my account is operating very well. I talked about the BVN; the BVN is one of the best payment systems infrastructure that we have put in place and I can assure you that with all that has been done, you cannot hack into it. "If somebody hacks into yours, it will be because you were reckless in handling your information but not that the system failed." He described eNaira as an extension of the payment system in Nigeria, which would enhance payments outside the country. He said, "You can make payment for goods and services rendered to somebody who even resides outside the country as long as he is willing to accept Naira. "We will see eventually that what it does is that your reliance on third currency would be reduced by embracing eNaira. That is one area that I am looking forward to, how this would help our country."

CBN Waives Charges on eNaira Transactions for 90 Days

CBN yesterday said charges for transactions that originate from its eNaira platform would be free from charges for the first 90 days, commencing October 25. The bank noted that it would, thereafter, revert to applicable charges as outlined in the Guide to Charges by Banks, Other Financial and Non-bank Financial Institutions. This was revealed in a circular on the Regulatory Guidelines on the eNaira, dated October 25, 2021, which was signed by the apex bank's Director, Financial Policy and Regulations Department, Chibuzo Efobi, and addressed to all stakeholders. CBN restated in the circular that the digital currency would complement cash as a less costly, more efficient, generally accepted, safe and trusted means of payment and store of value. It added that the eNaira would also improve monetary policy effectiveness, enhance government's capacity to deoy targeted social interventions, provide alternative less costly channels for collection of government revenue and boost remittances through formal channels. According to the apex bank, the guidelines further seek to provide simplicity in the operation of the eNaira, encourage general acceptability and use, promote low cost of transactions, drive financial inclusion, while minimising inherent risks of disintermediation or any negative impact of the system. The eNaira wallet is required to access, use and hold eNaira, which will be exchangeable for other Central Bank Digital Currencies (CBDC). The CBN added that the AML/ CFT checks for fraud prevention and detection would apply on the eNaira platform. Hence, financial institutions are required to comply with the Money Laundering (Prohibition) Act 2011 (as amended), the Terrorism (Prevention) Act 2011 (as amended) and all subsisting anti-money laundering laws and regulations as may be issued by the CBN from time to time. Under the new system, Ministries, Departments and Agencies (MDAs) may receive revenue in eNaira; and make payments in same form. It added that users of the eNaira would be introduced to a tiered structure with transaction and balance limits.

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NEWS

FRC SENSITISATION ENGAGEMENT FOR NORTH WEST... Chairman, Fiscal Responsibility Commission (FRC), Mr. Victor Muruako (left) and Kano State Governor, Dr. Abdullahi Ganduje, during a courtesy call on the governor by the management team of FRC in Kano...yesterday

Nigeria’s Drug Addiction Three Times More Than Global Average, Says Marwa Michael Olugbode in Abuja The Chairman/Chief Executive of the National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Buba Marwa (Retd) has lamented that drug addiction in Nigeria is presently three times higher than the global average. Marwa, who also ordered for the rooting out of drug barons and cartels from their various hideouts across the country, added: “The drug scourge in Nigeria is unacceptable with almost 15 million Nigerians abusing substances, 20

percent of who are addicted, which is three times the global average.” The NDLEA boss gave the charge for the rooting out of the drug barons and cartels to officers and men of the agency’s Strike Force Corps yesterday, at the graduation ceremony of 143 officers from the Special Operations Training at the Nigerian Army School of Infantry (NASI), Jaji, Kaduna State. He added: “We are conscious of our job to block and prevent availability of narcotic drugs and that necessitated the formation of the strike force to enhance our capability

for complex operations. The strike force is the tip of our spear in our interdiction efforts and as such we must keep the tip sharpened and always ready to strike because we need to be two steps ahead of drug barons and cartels operating in the country.” He added: “With the training and graduation of these officers and men today, we serve a notice to drug barons and cartels who are yet to get the message to quit the criminal trade that these well trained officers and men are coming to smoke them out as a formidable force anywhere in the country. “As we equip and arm you well, be ruthless with the criminal gangs and merchants of death. Equally, I will implore you to display professionalism, discipline and respect for human rights in your operations.”

Marwa while disclosing that another batch of officers and men of NDLEA would be sent to NASI for similar training in the coming weeks, commended the Chief of Army Staff, Lt Gen. Farouk Yahaya, and the Armed Forces for the successes recorded so far in the fight against insecurity in the country. He, however, tasked them not to rest on their oars, noting that, “fighting insecurity is not like a football match that ends at the end of 90 minutes.” Marwa, while reminding the new graduands of their position within the agency, added: “Note that the special nature of your training will require you to serve as a force multiplier to the conventional NDLEA officers in the field.” “Let me warn you of the hazard

along the way. It will come in various forms, ranging from physical assaults to stupendous temptations by traders and traffickers of illicit drugs. When the tempests arise, rise above them. Let your sense of duty remain uncompromised. “Let patriotism prevail over pecuniary interest. Let no temptation prevent you from discharging your duties to the best of your ability. In whatever situation you find yourself, remember to not forgo your training about the rules of engagement, especially the respect for human rights,” he added. According to him, “It is also important that you always bear in mind that there is little or no margin of error in the execution of your task as the safety of all NDLEA officers on assignment, including yourself, will, at times,

depend on the speed, accuracy and efficiency of the Strike Force team providing cover for the mission. On such occasion, your training will be called to test.” In his remarks, Commandant, Nigerian Army School of Infantry, Maj. Gen. M.G. Ali, commended Marwa for repositioning NDLEA for efficiency and relevance within the country’s security architecture. He said training would enhance the agency’s capability to handle more complex challenges in its task of tackling drug barons and cartels. Other top Army Chiefs at the ceremony included the Commander, Nigerian Army Infantry Corps, Maj. Gen. Victor Ezeugwu and Commandant, Martins Luther Agwai International Leadership and Peace Keeping Centre, Maj. Gen. A.J. Fagae among others.

Akpabio: We Stepped Down 345 Projects for East-west Road Akeredolu: Stop Branding Terrorism as Banditry Ndubuisi Francis in Abuja

The Ministry of Niger Delta Affairs stepped down a total of 345 projects and committed N10 billion in the current budget to ensure the completion of the East-west road, the Minister of Niger Delta Affairs, Senator Godswill Akpabio disclosed yesterday. He said the Niger Delta Development Commission (NDDC) also made a provision of N10 billion in the 2020 budget and another N25 billion in the current appropriation to impact positively on the progress of work on the road. Akpabio, who made the disclosure in Abuja, stated that due to concerns over the security and safety of commuters, the ministry had proposed an extra-budgetary intervention for the inclusion of Sections 1-1V of the road in the 2021 Sukuk issuance programme of the Ministry of Finance, Budget and National Planning and the Debt Management Office (DMO). Akpabio added that the project was at about 78.40 per cent completion (inclusive of the new section IIIA – Eleme Junction to Onne Junction and the Eket Bypass). According to him, this was against claims by some stakeholders in the region that he lied to President

Muhammadu Buhari that the project was 90 per cent completed. He stated that the move for Sukuk intervention was part of efforts by the ministry to attract adequate funding for the completion of the East-West road project. He observed that appeals for extra-budgetary funding intervention for the project was yielding fruits, adding that the finance minister had graciously directed the DMO to include the project in the Sukuk issuance of 2021. The minister noted that due to poor annual budgetary provisions, the contract for upgrading of Section IIIA awarded in 2014 could not commence until the ministry paid the contractors the full mobilisation advance in 2020, regretted that the condition of the road deteriorated during the period of delay. He regretted what he described as the serious encroachment on the right-of-way initially delineated for the road, stressing that these encroachments lead to right of way constraints, especially at Onne Junction by the Power Substation belonging to thecNiger Delta Power Holding Company. The development, he pointed out, necessitated a change in intersection design from interchange to flyover bridge.

Says no apologies for implementing anti-grazing law in south Adedayo Akinwale in Abuja and Fidelis David in Akure Ondo State Governor, Oluwarotimi Akeredolu, has said the various criminal activities of kidnapping, bombing and assault on the people in some parts of the country being referred to as banditry must be appropriately addressed as terrorism. This was contained in a statement by the governor's Chief Press Secretary, Richard Olabode. At the same time, the governor has said the southern states have no apologies for putting in place anti-open grazing law. In the statement released yesterday after the governor spoke at the 27th Nigerian Economic Summit held in Abuja with the theme: “Securing Our Future: The Fierce Urgency of Now.” Akeredolu noted that the infiltration of the country’s borders and burning down of railway were activities that must be addressed as terrorism and the perpetrators treated as same, contending that a nation with failed security and justice systems was set to fail. “In Ondo State, we don’t have terrorism. Our problem is farmer/ herder clashes and kidnap for ransom. We have drug abuse and

agitation for self determination. We have always preached the multilevel policing in Ondo State. We believe in layers of security,” he said. Akeredolu, who explained that although there are criminal trespasses which can be treated by the state, stressed that before the Amotekun corps was established, the police were not always ready to make arrest. “Yes, you have criminal trespass. It should be treated by the state. All we had before Amotekun was a police that had the duty to arrest and was not prepared to make an arrest. Things are changing and have really changed in Ondo state. “Today, if you trespass on other people’s land, the Amotekun will go after you and arrest you. They pay compensations to the farmers and when they fail they are in court. It is the only way you can send signals to the people. “When you commit a crime and the hands of law doesn’t catch up with you, another person will repeat it. I can assure you that when you do not have an effective policing system, there is little or nothing a governor can do. And the criminal trial is taking too long,” he said. On the recent ban on open grazing, Akeredolu said nomadic

pastoralist was a culture that must be discouraged in the interest of those involved. He noted that the issue of grazing routes was not a welcome conversation, adding that those were issue of the past that must not be brought back to the fore. “Speaking for those of us who have put in place anti-open grazing law. We have our reasons and we have no apologies. Grazing routes? Grazing routes to where? It is not going to work. There are things we had in the past. Don’t let us imagine it now. Time changes. Grazing with

AK 47 is an assault. Ban on open grazing, we are doing it effective in Ondo State. “Nomadic pastoralist is not a new thing. There were nomadic farmers all over the world. I know of people, high ranking who have ranches today. They can showcase their cows. Why are we pushing these people out. It is a culture that must be discouraged in the interest of those who are involved. Even with the President order that anyone with Ak47 should be arrested, how many have been arrested?” he asked.

Nigeria Condemns Coup D'état in Sudan Michael Olugbode in Abuja The Nigerian government has condemned the recent coup d'état in Sudan, calling for an immediate restoration of civil rule and release of ousted Prime Minister as well as all other political leaders from arrest. A signed statement yesterday by the spokesperson of the Ministry of Foreign Affairs, Mrs. Esther Sunsuwa read: “The Ministry of Foreign Affairs of the Federal Republic of

Nigeria strongly condemns the coup d'état that has taken place today in Sudan, in which the military has dissolved the civilian component of the transitional government and arrested its leaders. “The Ministry of Foreign Affairs calls for the immediate release of the Prime Minister and all political prisoners and an immediate restoration of the transitional government and implementation of the agreed roadmap to return the country to constitutional democracy.”

T H I S D AY • TUESDAY, OCTOBER 26, 2021

COMMENT

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

EUROPE-AFRICA: AN INDISPENSABLE PARTNERSHIP

The political, economic and social futures of both continents are tied together, write Jean-Yves Le Drian, Heiko Maas, Augusto Santos Silva and Anže Logar

n 26th of October, Ministers of Foreign Affairs of the European Union and the African Union will gather in Kigali for the first AU-EU Ministerial meeting since the onset of the COVID-19 pandemic. This gathering is of particular importance, as it will set the stage for the next AU-EU Summit in 2022. Both events underscore the relevance of the EU-Africa Partnership as a key priority of our foreign policies. It is not only geography making Europe and Africa natural allies. Both continents share a deep attachment to the principles of multilateralism, international cooperation and the rules-based international order. Our political, economic and social futures are tied together. The pandemic was another reminder that we must work together to build our common future. For this, we must take into account the enhanced political, security and economic role of the African continent, tied with the responsibility to promote inclusive and sustainable economic growth to secure perspectives for its young populations. In order to achieve this, investing in people – in quality education, skills development and access to decent work, is an essential part of our common endeavours. Special attention should be given to investing in women’s and girls’ education, health and economic opportunities, which are fundamental to realizing the continent’s human capital Both continents are benefiting from a rules-based global order and from regional integration. They are also benefiting from the digital transformation and understand well the importance of making it cyber-resilient and human-centric. With its huge potential for renewable energies and its rich biodiversity, we count on Africa to become a key partner in the pursuit for a more sustainable world, in line with the United Nations´ Sustainable Development Goals and the African Unions´ Agenda 2063. The Green Transition should not be regarded as a hindrance but as the cornerstone of a cleaner and more sustainable economic growth, enhancing connectivity and generating new and better jobs for African and European youths, while addressing important global challenges of climate change and the scarcity of natural resources, particularly water. We take note that other global players have rightfully realised the continent’s considerable economic and geostrategic importance. Europe remains, by far, Africa’s main trading partner, largest investor and its most dependable ally in the pursuit of peace and security. We should build on this partnership’ and deepen our cooperation in a spirit of even greater equality, solidarity and mutual respect. The meeting of the Foreign Ministers of the African and European Unions will address all these issues, as will the forthcoming EuropeAfrica Summit. It will be an opportunity to acknowledge the road

WE ARE NOT ONLY UNITED BY COMMON STRATEGIC INTERESTS BUT ALSO BOUND TOGETHER BY THE VISION OF A PARTNERSHIP WHICH BENEFITS PEOPLE ON BOTH CONTINENTS. THE PANDEMIC HAS SHOWN HOW CLOSELY OUR FATES ARE INTERTWINED

taken together thus far and to address common challenges and opportunities that lie ahead. The three consecutive Presidencies of the Council of the European Union by Germany, Portugal and Slovenia and the upcoming one by France have strongly supported the vision of a renewed and mutually reinforcing political partnership between Africa and Europe, one which sets new roles on both sides. Taking to heart the European Commission’s proposal for a “Comprehensive Strategy with Africa”, in a concerted effort as “Team Europe”, the EU and its Member-States have endeavoured to expand a global mechanism for the fair distribution of COVID-19 vaccines, tests and treatments and bolstering African healthcare systems through supporting the manufacturing of vaccines in Africa. We have also approved a new set of ambitious instruments such as the European Peace Facility (EPF) and the Neighbourhood, Development and International Cooperation Instrument (NDICI), providing the EU with a better toolkit to work alongside our African partners in the fields of peace, security, good governance, global challenges and sustainable development. Moreover, throughout the last year and half, we have undertaken various initiatives related to debt relief and the promotion of further investments and financing for the continent, be it through the G20 Compact with Africa, hosted by Germany in August, the High-Level EU-Africa Green Investment Forum, co-hosted by Portugal and the EIB in April, or the Summit on the Financing of African Economies, hosted by France in May. Through these initiatives, we have sought to create building blocks for the next Summit, which should guide the EU-Africa Partnership’s efforts to advance a truly sustainable post-COVID recovery. Further supporting the gradual implementation of the African Union Continental Free-trade Area will be another milestone to this effect. As the 6th EU-AU Summit draws near, it is time to strengthen our ambition for a deeper and more substantive common agenda into practice. The Summit will also be an opportunity to explore the synergies and linkages with the new framework for cooperation with the African, Caribbean and Pacific States, as envisioned in the Post-Cotonou Agreement. We are not only united by common strategic interests but also bound together by the vision of a partnership which benefits people on both continents. The pandemic has shown how closely our fates are intertwined. Making use of this experience creates an unrivalled opportunity - for Africa and for Europe. Le Drian, Maas, Santos Silva and Logar are French, German, Portuguese and Slovenian Foreign Affairs Ministers, respectively

APC AND THE ANAMBRA GOVERNORSHIP ELECTION Christian Chime writes that the inability of the party to abide by its laws will affect it adversely in the election

espite the insinuation that Chief George Moghalu has been persuaded by some big wigs in the All Progressives Congress (APC) to withdraw his suit against the party and the Anambra State’s November 6, 2021 Governorship candidate, Senator Andy Uba, all indications point to the contrary. This was glaring from the last week’s court proceedings at the Abuja High Court presided over by Justice Inyang Eden Ekwo that the final judgement would be read within the next 60 days, the scheduled date of the election notwithstanding. And should the inevitable happen, it would surely be the umpteenth time the party will be walking the path of ignominy and shame simply because it repeatedly failed to institute internal discipline and respect for not just its own laws, but the unambiguous provisions of the nation’s Electoral Act, especially Section 87. It would be recalled that the main opposition party had its numerous vices and somewhat indiscretions while they reigned, but had managed to maintain the balance in the conduct of its primary elections. Today, all the other political parties participating in the coming Nov 6 election have been holding their hearts in their palms, wishing that the APC missteps as it currently wobbles along on this latest case for them to take immediate advantage of it. Moghalu, a widely acknowledged dedicated, consistent and loyal party man was also a key foundation member of APC in the entire South East geopolitical zone. He was seen as an embodiment of energy, trust and belief in party discipline. Someone observed that ‘irrespective of the seeming superficial gale of decamping into APC now, people like Chief Moghalu give others reason to be loyal and dedicated to the party. That no such rare breed anywhere deserves to be shabbily treated, because it

will greatly demoralize others. Moghalu has been steady with the APC from inception. So why won’t someone like him be listened to, especially on an issue concerning a new comer into the party? It’s really a slap on the face of all consistent, dedicated and loyal party members. His prayers were not unexpected: delist the APC and Uba from the Nov 6 election in the state; refund all expenses of the 13 aspirants, including the N23 million spent on the nomination and expression of interest forms; and then pay him N100 million compensation for damages. In fact, no one would shed any tears for the APC because, just as a chieftain of the party stated, “It’s a self-inflicted injury”. Yes, because a similar thing happened in the recent past to the party, in Zamfara State. While a near similar experience occurred in Rivers and Bayelsa States. So, should same happen in Anambra State this time, it would just be following a pattern for the party, since they appear to have refused to learn from the past. In the Zamfara State case, two opposing camps within the party led by the then incumbent governor and a serving senator at the time were bitterly opposed to each another that it affected the smooth conduct of the primary election for the 2019 general elections. But in order to save face, they quickly concocted a list. However, the severity of the acrimony apparently pushed the other camp to go to court and got the list, and the primary election that generated same nullified -as failing to follow stipulated process. So, though the party won the election, it lost it in all categories-the governorship, all National and State Assembly seats to the second placed participants. The losses were huge and costly. And no one had expected the party to box itself to a similar corner again- this time, in Anambra state.

Anyone who says the fears of this Moghalu’s suit was not palpable should endeavor to come to Anambra and see. Because while other candidates like Chief Valentine Ozigbo of the Peoples Democratic Party (PDP), Dr Godwin Maduka of the Accord Party, Dr Obiora Okonkwo of the Zenith Labour Party and Prof Chukwuma Soludo were busy crisscrossing the state campaigning and meeting groups and citizens, the APC candidate appear timid and intimidated by its own acts already. Even the opportunities presented by Governorship candidates debates were not utilized at all, as he stayed away from all such platforms. It’s clear the party is not in it at all! APC in that state is yet to recover from that self-inflicted harm. Hence it would be unpardonable to railroad itself into the same dishonorable corner again, so soon. Because it would take a generation of prayers to avert similar experience in this Anambra episode. But one thing stands out here. That for the party, the ruling party for that matter to have failed to use her internal mechanisms to resolve the Anambra’s June 26 primary election impasse was read and interpreted as either that it doesn’t reckon with the members there, or that it knows the truth but was too ashamed to confront and acknowledge it! However, whichever was the case, doesn’t speak well of the party. So much so for a ruling party. Albeit, the judiciary -the last hope of the offended, has refused to chicken out too. It was therefore committed to confront history with its verdict one day soon. And whichever way it goes would be chronicled in the annals of the nation’s political development records and history. According to the prayers brought before the court by Moghalu, a key aspirant of the party in the June 26 primary election, sought to nullify the purported primary election and order a fresh one. Or for an order of the court

compelling the APC to refund the N23 million he paid for the purchase of the Nomination Form and Expression of Interest Form, since, in his views, was not given fair opportunity to participate in the said primary election. Moghalu had also alleged that the Electoral Act and the party’s (APC)guidelines were brazenly truncated in the purported primary claimed to have been conducted on June 26. The documents filed before the court by his counsel, Chief Chris Uche SAN, Chief Moghalu lamented that the application forms called Nomination/Expression of Interest forms cost him and other aspirants a whopping N23 million each, whereas “no primary election known to law was conducted by the party.” He presented copies of the official report of the Independent National Electoral Commission (INEC) which confirmed that no primary election was conducted within the time stipulated by law. In addition he cited Sec 87 of the Electoral Act and Guidelines of the party (APC) that outlined the time to conduct any primary election to be between 8 a.m and 4 p.m. of the given date. He told the court that he and other delegates who had turned out to cast their votes, as well as INEC officials who came to monitor the process waited till 7pm on June 26, 2021 without seeing party officials billed to conduct the primary election as planned. That they all left the venue/s when the reality dawned on them that no election would be conducted. The applicant said he was shocked when the following day the party announced that it had conducted a purported primary election and that one Emmanuel Andy Uba won. In the foregoing therefore he urged Justice Inyang Eden Ekwo to nullify the purported primary election and order a fresh one as there was no primary election by the party on June 26. Chime wrote from Abuja

T H I S D AY • MONDAY, OCTOBER 26, 2021

EDITORIAL ISSUES IN THE 2022 BUDGET There is no much diﬀerence between the proposed 2022 budget and others under the administration

hile presenting the N16.4 trillion Appropriation Bill for the 2022 fiscal year to the National Assembly on 8th October, President Muhammadu Buhari christened it “Budget of Economic Growth and Sustainability”. This annual ritual of presenting fiscal documents to the parliament with some fancy titles is not new to Nigerians. The problem is that the programmes highlighted hardly ever make any difference in the lives of the people after all the money would have been spent. As has become the norm in recent years, the proposed budget is heavy on deficit. For 2022, the fiscal deficit is standing at N6.26 trillion, which represents 3.39 per cent of estimated 4.2 per cent gross domestic product (GDP). For the first time, this is also above the 3 per cent threshold prescribed by the Fiscal Responsibility Act (FRA, 2007). The deficit is to be financed mainly by new borrowings totaling N5.01 trillion yet Nigerians still do not know how all these loans would be repaid. RATHER THAN ENTRENCH In real terms, the WATERTIGHT MEASURES proposed 2022 budget is not a marked departure TO CHECK LEAKAGES from previous budgets IN THE PUBLIC SERVICE, BORROWING HAS BECOME under the Buhari administration. PersonTHE EASY WAY OUT AND nel cost, debt service 2022 IS TO WITNESS EVEN MORE LOANS AMID and capital expenditure are to account for 85 GROWING CONCERNS per cent of the largest THAT THIS GOVERNMENT expenditure items. HAS SCANT REGARDS Incidentally, the federal FOR TRANSPARENCY AND government has admitACCOUNTABILITY ted that Nigeria’s debt service-to-GDP ratio at 73 per cent is not only worrying but is the highest among African top economies. The revenue challenge has become a recurring decimal, and government appears to be wallowing more in selfpity than addressing the problem squarely. Rather than entrench watertight measures to check leakages in the

Letters to the Editor

public service, borrowing has become the easy way out and 2022 is to witness even more loans amid growing concerns that this government has scant regards for transparency and accountability. For instance, despite pressure from the Nigeria Governors’ Forum (NGF) and the public to stop the suspicious payment of $418 million (N172 billion) to some private consultants on Paris Club refund to the consultants and less than a month after a directive by President Buhari, the Ministry of Finance, Budget and National Planning has commenced deductions to pay the claimants.

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

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

ndeed, there is a consensus about serious leakages in the Government Owned Enterprises (GOES), one of the flaws the 2020 Finance Act set to address. Year-on-year, audit reports from the Office of the Auditor General for the Federation (OAuGF) are replete with damning verdicts on the lack of transparency and accountability among ministries, departments, and agencies (MDAs). At worst, those fingered get a mere slap in the wrist. The Finance Act has now mandated the revenue agencies to limit their cost-to-revenue to a maximum of 50 per cent. In the past, they were allowed the luxury of remitting just 20 per cent of their operating surpluses and retain 80 per cent. How much the authorities enforce this provision to help address the revenue quagmire is a matter of time. While making a public presentation and breakdown of the 2022 Appropriation recently, the Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed gave an indication that a tighter expenditure control, including enforcing of Finance Act 2020 provision limiting GOEs cost-torevenue ratio to maximum of 50 per cent. Recent data from the International Monetary Fund (IMF) indicate that Nigeria generates one of the lowest revenues globally. Between 2015 and 2019, the figures stood at 7.9 per cent of GDP, compared with a sub-Saharan African average of 12.7 per cent and a global average of 29.8 per cent. Yet, we need all the funds to defuse the ticking time bomb which under-investment in human capital, particularly the youth, constitutes. But in a milieu where public funds are practically shared between and among vested private interests, it is difficult to ask citizens to pay taxes.

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

WHY NYSC IS IN NEED OF REFORMS

ong before Nigerians were collectively horrified by the image of a female soldier dehumanizing a female corps member, they had grown weary and wary of the National Youth Service Corps. It was seven years into Nigeria`s independence in 1967 when the last vestiges of the euphoria generated by the historic occasion in 1960 was brutally wiped off by a Civil War. By the time the guns boomed for the last time after an internecine three-year battle of attrition, the country`s suspect unity and cohesion had been irreparably damaged. Mr. Yakubu Gowon, Nigeria`s military leader at the time and one of the chief protagonists in the war, in an apparent defiance of predictions that the country was done for, famously declared that the war had produced no victor and no vanquished. He attempted to lead a genuine national reconciliation. Many years down the line, it`s proven a fool`s errand. The National Youth Service Corps was established in 1973 by Mr. Gowon. With the benefit of hindsight, it is not difficult to see that the scheme was an attempt to salve the conscience of Mr. Gowon who as military president presided over the wholescale slaughter and starvation of children during the war. The ‘Nigeria Prays’ project coordinated by Mr. Gowon has also been interpreted by many as yet another attempt to make amends as guilt has proven such a difficult customer. The NYSC was created to reconstruct, reconcile and rebuild the country after the Nigerian Civil War. Coming from a senseless war, Nigeria surely stood in need of a rebuild. The scheme has had its highs, many of them in fact. Every year, thousands of Nigerian

graduates, fresh from the chaos of Nigeria`s higher institutions, and ecstatic about having survived interminable strikes by disgruntled university staff, flow out and fan out into every nook and cranny in service of the country. Many of them, who only visit their states of assignment for the first time because of the scheme, make impossible sacrifices. There have been heartwarming stories of libraries built and clean water provided in the most rural of villages. There have been amazing stories of rural children treated of killer childhood diseases and educated for next to nothing. Many families hitherto mired in generational poverty have been given a lifeline by innovative corps members amidst many other moving stories of the backbreaking sacrifices the heart can make when touched by the suffering of others. To this end, the NYSC and its many participants over the years must take full credit. Their efforts have been indelible monuments to the transcendental power of education. The lows have been legion and lamentable. Corps members have been caught in the vicious cycle of Nigeria`s electoral crises. Drafted to serve as ad-hoc staff by the Independent National Electoral Commission, Corps members have lost their lives to those who make tainted living from desecrating ballot boxes. Corpses of Corps members have been returned to heartbroken families. Corp members have also fallen victims of the senseless crises which occasionally plague some of Nigeria`s most restive cities, out of nowhere. As Boko Haram has slaughtered its way to local and international notoriety in the Nigeria`s north-east, Corps members have become increasingly endangered. Because the scheme sends them to the remotest parts of the country, some of them have run

into Boko Haram`s many traps. When the postings are published, those who have the means immediately seek redeployment from volatile states. Insecurity has cast upon the scheme a situation where its ultimate aim of fostering national unity is defeated because participants in the scheme are reluctant to serve in some states. So, the scheme has become narrower than those who conceived it ever imagined. Today, insecurity strangles the scheme which is not able to guarantee the safety of its members. The body language of those who administer the scheme has also not helped matters. It was not long ago that the scheme`s DirectorGeneral stirred the hornet`s nest by saying that corps members could be sent into warfare at short notice. The scheme has also suffered from a severe lack of funds. Some states do not commit to paying participants anything other than what the federal government commits to pay monthly. Many states have done shockingly little to upgrade the scheme`s facilities within the states thus leaving corps members vulnerable to insecurity and poverty. All these happen because it is convenient for state governments to ignore the mammoth contributions of corps members to the development of their respective states. The NYSC was a child of the Nigerian Civil War. Like any child of war, it was not carefully planned. However, it has gone on to do its bit. However, in the face of prevailing circumstances, it appears the scheme has outlived its usefulness. Unless it is met with genuine reforms, it must be scrapped. Kene Obiezu, Abuja Keneobiezu@gmail.com

TUESDAY, ͺ;˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

NBA 61ST ANNUAL GENERAL CONFAB... L-R: Justice of the Supreme Court of Nigeria, Hon. Justice Mary Odili; NBA President, Olumide A. Akpata; Rivers State Governor, Nyesom Ezenwo Wike; Justice Eberechi Suzzette Nyesom-Wike and Sokoto State Governor, Aminu Waziri Tambuwal, at the NBA 61st Annual General Conference in Port Harcourt... yesterday

Labour Disagrees With Govts over Enforcement of COVID-19 Vaccination

Urges persuasion rather than force to get workers to vaccinate

Onyebuchi Ezigbo in Abuja The Nigeria Labour Congress (NLC) has asked the federal and state governments to use persuasion rather than force, to get workers and members of the public to take COVID-19 vaccines. It, however, urged Nigerian workers and eligible members of the public to go out and take the vaccines, describing it as an effective remedy to avoid the associated sickness and hospitalisation. Speaking at a media briefing to unveil the COVID-19 vaccination advisory for the federal civil servants in Abuja yesterday, NLC

President, Ayuba Wabba, said though the efficacy of vaccines for the control of COVID-19 has been scientifically proven, "the tool of persuasion and conviction be used rather than force to get workers and the general populace to take the vaccine." He also urged the government and other employers of labour to make special arrangement for workers to access the vaccine at their respective workplaces. Against the background of the move by the federal government to enforce vaccination amongst its workers by setting December deadline, the NLC boss explained:

"The truth is that despite being imperfect, the COVID-19 vaccine has given all of us a better chance of fighting the virus and staying alive. I urge workers all over the world to take advantage of the COVID-19 vaccines and keep themselves, their families and their colleagues at work safe and free from the morbid threats of the corona pandemic. "We urge government and other employers of labour to make special arrangement for workers to access the vaccine at the workplace. We urge that the tool of persuasion and conviction be used rather than force to get

workers and the general populace to take the vaccine." Wabba said the pandemic has brought some of the biggest strains, stress and squeeze to the workplace, adding that thousands of workers have died from the disease. Wabba said: "Many of the dead from the global workforce were frontline workers. As at the third week of October 2021, more than 180,000 health workers world over had lost their lives to COVID-19. "The high rate of fatality is unfortunate but also highlights the sacrifice that workers have made in combating and containing this deadly virus. Many more workers

have their jobs and means of livelihood to COVID-19." He also said the biggest lesson from the pandemic was that amidst the worst crisis, the human race could rise to the challenge with great resourcefulness and resilience. According to Wabba, apart from accelerated scientific efforts at understanding the epidemiology of the virus, science has raised the bar a little higher with the breakthrough discovery of vaccine for COVID-19 which has helped reduce death rate and hospital admissions. He disclosed that a study conducted by the United States Centre for Disease Control as of

the end of May 2021, showed that there was about 63 per cent drop in hospital visitations after the introduction of the COVID-19 vaccine. "There was also a 63 per cent drop in hospital admissions post vaccination and 66 per cent drop in mortality for those aged 18 – 49 after the vaccination. "I understand some people prefer to view COVID-19 vaccination with caution. Yes, it is important to proceed on issues of public health with great caution. Yet, it would be foolhardy to elevate caution above scientific evidence and facts from public health records," he said.

of a Cross River State High Court on August 28, restrained him from resuming. The amusing thing about all the orders is that they were not only issued by courts of coordinate jurisdiction, but were all based on exparte applications. Attempt to rid the judiciary of bad eggs started, when the National Judicial Council (NJC) under the chairmanship of the CJN, constituted an investigative panel to probe the three High Court judges over their alleged indiscriminate issuance of court orders, an act perceived as detrimental to the nation’s democracy. A statement by the Director of Information, NJC, Mr Soji Oye, read, “The National Judicial Council under the Chairmanship of the Chief Justice of Nigeria, Justice I. T. Muhammad, at its 95th Meeting held on September 15 and 16, 2021, in line with the principles of fair hearing, has directed the three Judges of coordinate jurisdiction, who granted Exparte Orders over the same case with the same subject matter to appear before a special Investigation Committee constituted by the Council in order to show cause why disciplinary action should not be taken against them for such act". Although, the names of the judges and the jurisdiction they operated were not made public, they were however believed to be amongst the six jurisdictions of the High Court whose heads were summoned by the CJN in August, to explain the rationale behind the issuance of conflicting others by judges in their jurisdiction. The letter dated August 30, read in part: “My attention has been drawn to media reports to

the effect that some Courts of coordinate jurisdiction were granting conflicting Exparte Orders on the same subject matter. "It has become expedient for me to invite you for a detailed briefing on the development. This is even more compelling having regard to earlier NJC Warning to judicial officers on the need to be circumspect in granting Ex-parte applications”. From the tone of the letter, it was obvious that the CJN was not only worried but also bitter over the development, which sources around the CJN noted was a huge embarrassment tothe Nigerian judiciary and the country at large. Speaking on the ongoing probe of the three judges on Monday in Abuja, an official of the NJC, who did not want his name mentioned, said the probe was ongoing and once the committee concluded its job, which he believed was in no distant time, the council would look into it and take critical decisions to serve as a warning to others if the said judges were guilty of the allegations. “The committee is still sitting, you know they have to give them fair hearing, they will bring their lawyers to defend them, afterwards the committee will now recommend them to the plenary of the NJC. It is the NEC meeting that will determine, whatever the plenary agrees is the final decision,” he said. While it is difficult to comprehend what would make a judge assume jurisdiction in a case he knew he lacked any, the level of condemnation and fines against politicians and their lawyers by the appellate and Supreme Courts, have yet to abate the obnoxious situation in the judiciary.

POLITICIANS STILL INFLUENCING JUDGES TO USE COURT AGAINST DEMOCRACY Secretary of the NCOC and Oyo State Governor, Seyi Makinde, said, "Notwithstanding their right to approach a court of competent jurisdiction to air their grievances, we maintain that the National Executive Committee (NEC) of the PDP has acted in good faith in fixing our convention for October 30 and 31. It is not meant to witch-hunt anyone or to truncate anyone’s mandate. "Therefore, we call on all members and supporters of the PDP to ignore this distraction as we prepare to host a convention that will send a clear signal to Nigerians that the PDP is the only party that has the will and the might to rescue Nigeria from the catastrophe that we have been enduring for the past six years." But Secondus had through his lawyer, Mr Tayo Oyetiba, SAN, asked the PDP to shelve the planned convention slated for October 30 and 31, pending the determination of Secondus’ appeal. The appeal with the number CA/ PH/341/2021, is seeking to quash his suspension and applied for "An order of injunction restraining the Peoples Democratic Party, the 6 respondent herein, whether by itself, its officers, servants, agents and or representatives from holding or conducting its National Convention scheduled for 30th and 31st October 2021 or any other date, pending the hearing and final determination of this appeal." The hearing of the appeal as well as the motion for interlocutory injunction comes up today, Tuesday, October 26, at the Port Harcourt Division of the Court of Appeal. Whether the appellate court would accede to the demand or not is another, particularly, taking into consideration the recent position of

appellate court justices with respect to exparte granted by High Court judges. It is worthy of mention that the appellate court and even the Supreme Court had descended heavily on the High Court judges particularly, in the Anambra governorship suits. Justice Chioma Nwosu-Iheme of the Court of Appeal had in a ruling on August 2, in the All Progressives Grand Alliance (APGA), governorship tussle, called for sanction against two judges in the Jigawa and Imo States High Court for what she described as professional misconduct. She also called for sanctions for lawyers, who aided politicians in the filing of all such applications that had brought the court to ridicule. Similarly, Justice Hamma Zamani of the Kano Division of the Court of Appeal had on August 10 in his judgment, set aside the judgment of a Jigawa State High Court, which had earlier declared Jude Okeke and Chukwuma Umeoji as the APGA national chairman and governorship candidate respectively. The appellate court claimed that the trial court erred by entertaining a suit wherein it lacked jurisdiction. The Supreme Court, also in a judgment on October 14, 2021, upheld the decision of Justice Zamani of the Kano division of the Appeal Court for nullifying the judgment of the High Court for want of jurisdiction. The apex court in a unanimous judgment held that the internal issue of political parties' was outside the jurisdiction of courts and consequently upheld the judgment of the Court of Appeal, which resolved the leadership tussle in APGA in favour of Victor Oye and also upheld the primary election conducted by

his leadership, which produced Professor Chukwuma Soludo as APGA’s governorship candidate for the November 6 governorship election. Soludo was nominated candidate of APGA in the forthcoming governorship poll by the Oye faction and his nomination was accepted by INEC. But Okeke challenged the authenticity of the Oye leadership at a Federal High Court in Jigawa State, where judgment was given in his favour. However, the Jigawa Judgment was set aside by the Appeal Court leading him to proceed to the apex court to upturn the appellate court’s decision. The seven member panel of the apex court in the judgment delivered by Justice Mary Odili, held that it was clear that the appellant engaged in abuse of judicial process, because the subject matter of the suit was not justiciable as it bordered on the internal matters of a political party. While the panel berated lawyers to the appellant for engaging in unethical conduct by filing such suit in the first place, it blamed the Jigawa High Court judge for accepting to hear the suit that was outside his jurisdiction. The panel went on to slam a fine of N1 million against the appellant for abuse of court process. Aside the judges, the umbrella body for lawyers, the Nigerian Bar Association (NBA), had also condemned the development and promised to deal with lawyers engaging in acts capable of bringing the judiciary to disrepute. A statement by its National President in September, Mr. Olumide Akpata, described as unfortunate, the recurring trend of contradictory court orders especially amongst

courts of coordinate jurisdiction. He cited the recent cases involving the Anambra State forthcoming election and the PDP leadership crisis, which according to him “evokes memories of those eerie and unwanted dark days. “While the NBA will continue to stay away from the political ramifications and machinations involved in these matters, it is self-evident that these developments in our courts are antithetical to the actualisation of the just society and independent judiciary that we all aspire to, and they run contrary to everything we teach and hold dear as a profession.” There’s a swirling belief that of the three judges under probe, one or two were involved in the PDP leadership crisis suit. While Justice O. Gbasam of a High Court of Rivers State, had on August 23, 2021 issued an order of interim injunction restraining Secondus from carrying on as Chairman of the PDP, pending the hearing and determination of a suit challenging his continued stay in office, Justice Nusirat Umar of the Kebbi State High Court, issued another order on Secondus to return to his position as the National Chairman on August 26. The judge made the order while delivering ruling in a suit marked KB/AC/M. 170/2021, filed by three concerned members of the party, Yahaya Usman, Abubakar mohammed and Bashar Suleman. Justice Umar said she was satisfied after reading the affavidit of the respondents that an interim order should be granted on the purported suspension of Secondus pending the determination of the case. But before Secondus could carry out the order, Justice Edem Kooffreh

TUESDAY OCTOBER 26, 2021 • T H I S D AY

T H I S D AY ˾ TUESDAY OCTOBER 26, 2021

POLITICS

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

Gathering Storm Over Delay in NDDC Board Inauguration Disappointed by the Federal Government’s apparent betrayal of trust by delaying on President Muhammadu Buhari’s unequivocal promise to inaugurate NDDC Board upon receipt of the Commission’s forensic audit report, there is a build-up of agitation and threats that do not bode well for the fragile peace that currently pervades the otherwise volatile Niger Delta region, where violent disruption of oil production in 2016 drove the nation’s economy into recession, writes Nseobong Okon-Ekong

Akpabio

ontrary to the firm promise of President Muhammadu Buhari on June 24, 2021, when he received the leadership of Ijaw National Congress in Aso Rock, to inaugurate the Board of NDDC upon completion and submission of the report of the forensic audit of the Commission, mum has been the word since September 2, 2021 when Minister of Niger Delta Affairs, Senator Godswill Akpabio submitted the report to the President. President Buhari promised the nation on the 24th day of June 2021, while receiving the Ijaw National Congress at the State House in Abuja that the NDDC Board would be inaugurated as soon as the forensic audit report is submitted and accepted. The President said: ‘‘Based on the mismanagement that had previously bedeviled the NDDC, a forensic audit was set up and the result is expected by the end of July, 2021. I want to assure you that as soon as the forensic audit report is submitted and accepted, the NDDC Board will be inaugurated.” The report of the forensic audit of NDDC has since been submitted by Minister of Niger Delta Affairs, Senator Godswill Akpabio, to President Buhari on September 2, 2021. More than one month after submission of the forensic audit report, there is increasing tension in the Niger Delta region over the delay in inaugurating members of the board of the Commission. According to Governor Ifeanyi

Okowa

Okowa of Delta State, Chairman of South-south Governors’ Forum, “when our people do agitate, we believe that they are doing so in the right direction.” Presently, across the length and breadth of the Niger Delta region there are unending calls, demands and peaceful agitations of youths, men and women, political and traditional leaders and civil society organisations that the inauguration of the board of NDDC will promote and sustain peace, equity and fairness, transparency and accountability, good governance and rapid development and transformation of the Niger Delta Region, and douse the tension of militancy as well as curtail the menace of insecurity in the region. However, the brewing storm in the Niger Delta region is gaining momentum each passing day that the Federal Government fails to keep to its promise to inaugurate the NDDC Board having received the forensic audit report since

Prof. Okaba

September 2, 2021. Only last week, former militant leader, Chief Kingsley Muturu, warned the Minister of Niger Delta Affairs, Senator Godswill Akpabio, to stop playing politics and facilitate the inauguration of the substantive board of the Niger Delta Development Commission, NDDC. Muturu, a peace ambassador and Delta state chairman, Phase 2 of the Presidential Amnesty Programme (PAP) gave the warning at Bomadi, Delta state, saying that Akpabio was playing on the intelligence and strength of Niger Delta youths. According to him, and as was widely reported in the media “Our critical examination of Akpabio and his politics shows that he’s playing on the strength and intelligence of Niger Delta youths in his tactical delay in inaugurating NDDC’s substantive board, despite the series of calls. We have given him enough time according to his earlier plea to allow him put

According to Prof. Okaba, “the President has the (forensic audit) report, so what is stopping him from inaugurating the board? There are a few collaborators who use politics and praise-singing to attract attention. I’m happy with the kind of responses and the backlash they have got from the Ijaw people.”

things in order, but that time has already elapsed without Akpabio showing any sign of compliance with his promise. This deliberate act of Akpabio is certainly politicking with fortunes of Niger Deltans for personal gains, and we have decided that it will not be condoned by ex-agitators whose agitations facilitated birth of the Commission. Muturu, therefore, urged President Muhammadu Buhari to end the nightmare by ordering Akpabio to do the needful for the inauguration of the board without further delay, “else all blames should be heaped on Akpabio if the situation gets out of hand”. In an interview with a national daily on October 17, 2021, the President of Ijaw National Congress (INC), Professor Benjamin Okaba, wondered what is holding President Buhari from inaugurating the NDDC Board which he had promised to do on receipt of the audit report. Said he, “the President has the report, so what is stopping him from inaugurating the board? There are a few collaborators who use politics and praise-singing to attract attention. I’m happy with the kind of responses and the backlash they have got from the Ijaw people.” Speaking on behalf of the Ijaw people, Professor Okaba recounted that “from the outset, we did mention that the forensic audit (although it’s a normal and usual necessity for every organisation) should not be a reason why the NDDC should run without a functional board. That has been our position and we gave examples of

T H I S D AY ˾ TUESDAY OCTOBER 26, 2021

POLITICS

Emmanuel

some other organisations that require some form of clean-up or audit.” The INC President stated that the Ijaw people and the Niger Delta region however gave the Buhari regime the benefit of doubt as the Federal Government “insisted the audit needed to be done before the board could be inaugurated and we decided to place confidence in the Federal Government’s plea for time.” On the reported alleged irregularities and lack of due process in NDDC since October 2019 when the interim management/sole administrator contraptions have been in place, Professor Okaba stated thus: “We are also not particularly happy about the silence on the over N600bn payments made for emergency contracts; the over 1,000 persons who were allegedly employed in the NDDC between January and July, 2020 without due process. We are also aware that the 2020 budget was passed in December and N400bn was voted for the NDDC but the commission had spent over N190bn before the budget was passed. So, what happened to the Procurement Act? These are issues.” Also on October 17, 2021, youths of Niger Delta threatened to stage a peaceful protest in Abuja, if after one week the Federal Government did not satisfactorily explain why a Sole Administrator was still running the Niger Delta Development Commission, NDDC. The youths under the auspices of 21st Century Youths of Niger Delta and Agitators with Conscience, 21st CYNDAC, said they were taken aback that after the conclusion and submission of the forensic audit of the commission, the substantive board had not been inaugurated. Spokesperson of the group, Izon Ebi, said: “After an exhaustive meeting and deliberation held today (October 17), the 21st CYNDAC, other like minds and youth organisations have resolved to ask some pertinent questions and if answers are not given after seven days, we will be forced to come down to Abuja in our numbers for a peaceful protest to ask who is benefiting from the continued running of NDDC by a sole administrator after the conclusion and submission of the forensic audit of the commission. “Who is benefitting from the bribery allegations of Ghana -must-go bags of dollars and N5 billion alleged by

Diri

militant group? In whose benefit is it that the substantive board is not inaugurated to consolidate on the gains of the forensic audit? These questions need urgent attention and answers because it is more of politics than the right intentions of President Muhammadu Buhari. The president should endeavour to do the right thing as a legacy by inaugurating the substantive board of NDDC immediately because the streets of Niger Delta are bubbling with bogus allegations of using monies meant for developmental purposes for bribery and political brinkmanship.” According to the group, “The forensic audit of NDDC which is more or less the brain child of Minister of Niger Delta Affairs, Sen. Godswill Akpabio, has been concluded, therefore, he should come out clean with his plans and why the substantive board of the commission has not been inaugurated after weeks of the submission of the forensic audit report to the Federal Government. The minister should also go a step further to clarify and uphold his integrity on the bogus allegations of bribery and corruption leveled against him from the start of the forensic audit to this moment because the allegations are too weighty to be ignored if the forensic audit should be taken seriously.” Earlier in the month of October, Niger Delta monarch, King Monday Whiskey, who is the Ovie of Idjerhe Kingdom, Ethiope West, Delta state, warned of an impending crisis in the region maintaining that it was illegal for the federal government to continue to run the Niger Delta Development Commission

Wike

(NDDC) with a sole administrator. The monarch noted that the federal government no longer has any justification to delay the inauguration of the already screened and confirmed board by President Muhammadu Buhari. He argued that since the alibi had always been the need to allow the conclusion of work by the forensic auditors, the current leadership of the agency should give way to the one allowed by the law setting up the NDDC. Whiskey stressed that he wasn’t surprised that two months after the release of the NDDC report, nothing had been done about it, insisting that the Minister of Niger Delta Affairs, Mr Godswill Akpabio, who he said was an interested party in the matter, ought not to oversee its overhaul. He said: “I knew from the outset that the good intention of Mr. President will be turned upside down and that nothing good will come out of the forensic audit, and that the audit was a scam. It was a delay tactics to rob the people of the Niger Delta of their resources and deny them of the needed development. That was very clear from the very outset. Said King Monday Whiskey, “when the president spoke and said, once the audit forensic auditor submitted the report, the board will be inaugurated, some of us used our position as leaders to calm a lot of youths in the area. “Now, the auditors, whether they did a bad job or not, they have submitted what they call a forensic audit and the actual people who did a lot of the damage, the governors, the senators, none of them is mentioned. They have submitted it for about two months now, and nothing

However the brewing storm in the Niger Delta region is gaining momentum each passing day that the Federal Government fails to keep to its promise to inaugurate the NDDC Board having received the forensic audit report since September 2, 2021.

has been done. To avert crisis the region, Whiskey stressed that the board which was nominated, screened and confirmed by the lawmakers and were only waiting for inauguration, before the current crisis should be allowed to takeover.” Whiskey noted that the absence of a board was affecting the operation of the NDDC, because it was being run with a sole administrator, which he likened to running a country with one man. He emphasised that the APC government by its action was de-marketing the party in the Niger Delta because there’s nobody to build political goodwill for the party, going into an election year. Making a passionate appeal to avert crisis, the Monarch stated that “What my kingdom is contributing to the Nigeria’s oil resource, we have not got anything in return. We keep contributing to the centre and in return we get nothing because one individual is holding everybody’s torch. My prayer is that this whole attitude should not lead to a crisis where traditional rulers will be invited because some of us will speak our minds and will tell Mr. President that we told him from the outset that this man is an interested party,” Whiskey noted. The angst, agitations and pleas of the Niger Delta people and its leaders – the South-south Governors Forum, Ijaw National Congress (INC), Pan Niger Delta Forum (PANDEF), South-east South-south Professionals Forum (SESSPF) etc capture the frustrations of a people denied of their rights of effective representation in a commission funded by their patrimony. The loudly stated positions of Niger Delta leaders capture the mood of the Niger Delta people, and may signal an indication of a new series of avoidable disruptive agitations akin to the 2016 disruptions which the country can ill-afford presently. Now that the Forensic audit report has been submitted to President Muhammadu Buhari since September 2, 2021, the President should do well to heed the call of the Niger Delta leaders and other stakeholders, comply with the law setting up NDDC, and also fulfill his own promise of June 24, 2021, and inaugurate the board to manage the Commission for the benefit of the people of nine Niger Delta states.

T H I S D AY ˾ TUESDAY OCTOBER 26, 2021

PROPERTY & ENVIRONMENT Egbochie: How ATCO Homes is Pushing the Frontier of Real Estate Investment Mr. Batholomew Egbochie is the Group Managing Director of ATCO Group and CEO of ATCO Homes, a real estate firm, with sprawling properties in the Lekki, Epe and Ibeju-Lekki axis of Lagos. He speaks about the development in the sector, the opportunities in Ibeju-Lekki and the firm’s real estate investment portfolios

ccording to data released by the NBS recently, the real estate sector posted a 3.85% growth in the second quarter of the year 2021. Compared to the slump in the market during reduced activities occasioned by the COVID-19 induced trade restrictions, does the sector’s renewed growth trajectory portray investors’ conﬁdence in the market? Much like it. The real estate market provides a high-yield-

ing investment opportunity for shrewd investors, especially in Nigeria. The lull experienced in the market in 2020 does not reflect the value status of the market. As you would attest to, almost every sector, except for the big tech firms, felt the impact of the reduced trade activities occasioned by the restrictive COVID-19 protocol guidelines. Despite all that market disruption which reduced household income and purchasing power, it was clear to keen-eyed market analysts that a rebound was somewhere

around the corner. The partial return to normal business activities in the latter part of the preceding year around the globe fueled renewed investment interest in the real estate sector. Individual and corporate investors began to raise capital to deploy into the sector to build a strong investment coffer for the future. The future can be vividly captured. Nigeria population is projected to grow exponentially within the next 40 years. Looking at the bourgeoning demography of young people in the country, a whole new set of people would need housing, places to serve as trade hubs, schools to cater for a fresh set of kids, leisure centres for play amongst others in the nearest future. This overriding demography spread demand scaled infrastructural upgrades which make real estate an attractive investment proposition right now. How is ATCO Homes positioning its real estate portfolios to help investors make the best of the sprawling investment projection in the real estate market? ATCO Homes is expanding its real estate market footprint

Egbochie

especially across the Ibeju-Lekki axis which has been tagged ‘the new Lagos’. For now, we have about 15 gated estates in Lagos. The accessibility to our estates guarantees our off-takers 60% to 65% annual return-on-investment. The drivers of these new upscale real estate investment propositions include the Dangote refinery projects, the Dangote mini seaport, the Lagos state jetty, the different beaches that are scattered around the area, and the proposed International Airport to be located within the hub. We are a customer-driven business. We prioritize our clients’ investment needs and that is why we work daily to create investment opportunities that tie into their aspirations. What investment and ownership structure is ATCO Homes putting in place to encourage the lower-end and middleclass segments within the national socioeconomic strata to tap into its real estate offerings, as well as ensure the investment advantages spread across? We have consistently conducted our business in a

way that spreads opportunities across the different levels of the economy. We put in place rare affordability real estate purchase investment structures. These structures include an affordable initial deposit for low-income earners and an instalment payment option that is spread across 24 months. We have also consistently gifted our clients cars (Toyota Corolla) fully insured by our trusted associate, Consolidated Hallmark Insurance. These vehicles help to ensure consistency in the repayment option, eg hiring it out for taxi (Uber or Bolt) with steady cash flow every month. By providing our low-end clients with an extra channel of income we are leading them on the wealth-creation journey which would not only boost their current earnings but position them to live a fuller life now and later. You have a strong grasp of the business environment. Can you share your academic and business experience? I am a passionate entrepreneur with over 10 years’ experience in providing

solution to problems in the construction, marine equipment fabrications, oil and gas sector in the South-South of Nigeria. I possess a comprehensive knowledge of key institution success drivers as I have been responsible for strategy, planning and execution, optimising key preprocess by mitigating financial and technical risks. Before founding ATCO Homes, I founded Atco Energy an integrated Logistics, Retailing, Technical & Industrial energy solution Company, with the flagship brand – Atcogas, currently at the forefront of the LPG value chain in Nigeria. I studied Mathematics at Ambrose Alli University. I am equally an alumnus of the Lagos Business School, EDC and a volunteer and supporter of several local and international humanitarian groups, one of which I received Archers Award powered by Arrows Leadership Development Foundation (ALDEF)/WeCare Club Global whose mandate is to enrich humanity at all levels through the development of the leadership culture and positive behavioural changes. Currently, I am running some courses at the Harvard Business School.

YELI Seeks to Increase SMEs Contribution to Nigeria’s Economy A non-governmental organisation, Youth Entrepreneurship and Leadership Initiative (YELI) has said it seeks to leapfrog startup businesses and increase contribution of small and medium scale enterprises to the nation’s economy. Reportedly, over 80 per cent of startup businesses close in Nigeria before reaching five years, due to prevailing challenges but experts, who

gathered at the maiden edition of YELI competition insisted that the situation could be address through capacity development and necessary support. Founder of YELI, Dr. Dorothy Jeff-Nnamani stated that building the capacity of young startup founders would enable them translate their business ideas from just ideas with zero to low funding to

viable businesses. She stressed that the YELI programme is directly aimed at changing the narrative for young startup businesses by helping them to transcend their limits and offer them an opportunity of a lifetime. Speaking at the programme in Enugu, where over 1,000 startup businesses registered to be a part of a remarkable entrepreneurial quantum leap,

she noted that there was need to pave the way for start up to improve the nation’s economic outlook. With growing unemployment, poverty and weak economic situation, Jeff-Nnamani said, “With every opportunity, created or taken, there comes exposure to it and with the projects chosen, what matters most is how much can be made and how they can evolve

individually as successful entrepreneurs. “The end goal is to help young adults get peer insights and advice anytime through business networking, YELI support forums and member-led sessions. Connecting with their peers to share expertise, learning from each other to solve business challenges and also exploring and furthering their professional development.”

She noted that the initiative already produced young industrious alumnus to pave the way for newer budding entrepreneurs. The programme which focused more on indigenes of Enugu state already received the support of the state government and other critical stakeholders like the former Senate President, Ken Nnamani.

Lifepage Launches Interest-free Mortgage at End of Year Bounty As part of the activities geared towards giving back to its customers, Lifepage on October 1st, 2021, announced a 90-day end-of-the-year bounty offer. Through this offer, one lucky individual stands the chance to win a

10-year interest-free mortgage for a home while other prizes include; N1,000,000.00 and N500,000.00 cash respectively. According to the Executive Director, Product Development and Estates, Mr. Opeoluwa Oni, anyone who subscribes

to any of the company’s products with a minimum of N1,000,000 stands a chance of winning any of the prizes. He adding that winners will be selected through a draw at the company’s gratitude party scheduled to hold in

Masari, Dangiwa, Ashafa, Others to Headline Abuja Housing Summit Stakeholders in the housing and mortgage finance industry are set for the 2021 Housing Summit scheduled to hold at Abuja Sheraton Hotel on Thursday November 4th. The Summit, the 12th edition, has become a forum for professionals and participants to engage and proactively discuss issues in the sector with a view to proffering solution. In a chat with newsmen during the week, the convener of the Summit and the Chief Executive of Housing Circuit Limited (Publishers of Abujabased Housing Digest), Mr. Seun Jegede revealed that the theme for this year’s parley is “Setting up Sustainable Structures and Mobilising Private Investments for Housing Delivery in Nigeria.” Guest Speakers and Icons expected at the event are: Sen. Sam Egwu Chairman, Sen-

ate Committee on Housing, Babatunde Raji Fashola SAN, Minister of Works and Housing, Arc. Ahmed Musa Dangiwa, MD/CEO, Federal Mortgage Bank of Nigeria (FMBN), Sen. Gbenga Ashafa, MD/CEO, Federal Housing Authority (FHA), Dr. Folasade Yemi-Esan, Head of the Civil Service of the Federation, Abdulrasheed Bawa, Executive Chairman, Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Abdu Mairiga, Executive Secretary, Federal Government Staff Housing Loans Board (FGSHLB), ESV Emma O. Wike, President, Nigerian Institution of Estate Surveyors & Valuers (NIESV), Alh. (Dr.) Aliyu Wammanko, National President, Real Estate Developers Association of Nigeria (REDAN), Hon. Mustapha Dawaki, Chairman, House Committee on Housing and

Habitat, among other very distinguished personalities. The Vice President, Prof. Yemi Osinbajo is the Special Guest of Honour while the Governor of Katsina State is the Chairman. According to Jegede, “the aim is to engage Nigerian communities both at home and in the Diaspora on the importance and benefits inherent in a functional mortgage policy towards affordable housing – the thematic focus of President Buhari’s Administration. “The 2021 Housing Summit provides the opportunity for experienced and seasoned panelists to re-echo these sentiments by projecting the monumental strides of the present Administration in the area of housing, challenges confronting the realisation of its full capacity and the way forward.

January 2022. The Lifepage Company began full operations in Nigeria in 2012. To date, the business has served over 5000 clients, sold about 2,000,000 sqm of land, and currently developing over 200 houses.

According to Mr. Oladipupo Clement, Founder/CEO, “Lifepage is positioned to provide investment opportunities for the creation and retention of wealth, and this is done primarily through real estate investment”. He

further explains, “We want to help you achieve your financial dreams through real estate investment, and as a company we are confident to say that if it’s not creating or retaining wealth, then it’s not Lifepage”.

Fairmoney Receives Investment Grade Rating from GCR MyCredit Investments Ltd. (Trading as “FairMoney”) has been assigned an investment grade issuer rating (BBB/A3/ Stable) from Global Credit Ratings (GCR). FairMoney Nigeria, a digital bank, has obtained investmentgrade ratings, BBB (NG) Long Term, and A3 (NG) Short Term, with a stable outlook by Global Credit Rating (GCR). The assigned ratings were driven by FairMoney’s ungeared position, robust liquidity, resilient balance sheet, sound underwriting practices, and a strong growth trajectory since its inception, according to a statement by the company. This stable outlook rating reflects GCR’s expectation that MyCredit Investments Ltd. is evolving and will show strong overall performance metrics over the medium term. GCR

further noted that cash flow and leverage was a positive rating factor and business growth is expected to remain steady over the next 12 - 18 months. Over time, FairMoney Nigeria has significantly grown its loan book whilst showing strong profitability. Non-performing loans have been maintained at a stable yet declining rate over the last year of operations. This is a testament to the company’s advanced underwriting practices which has positioned it as the leading digital lender in Nigeria. Commenting on the ratings, Co-Founder & CEO of FairMoney, Laurin Hainy, affirmed that the ratings reflect FairMoney’s resilient business model, international best practices, strong manage-

ment team and a diversified employee base. “The milestones achieved since our incorporation within the digital banking space indicates that the Group is on track to achieving its vision of building the leading Neobank in emerging markets,” he stated. Laurin added that the company is focused on superior customer satisfaction and ensuring enhanced value for investors. “As a customer-first organisation we are proud that this rating will create yet another win-win situation in the Nigerian market. FairMoney will be able to further serve our customers while providing a solid and secure investment target to institutional investors in our home market Nigeria.”

TUESDAY, ͺ;˜ ͺ͸ͺ͹ ˾ T H I S D AY

THE ALTERNATIVE

with RenoOmokri

Why Is Buhari Not Exposing Boko Haram’s Sponsors?

n September 21, 2021, Buhari’s spokesman, Femi Adesina, said the Buhari junta ‘is not interested in naming and shaming Boko Haram’s sponsors”. A month later, on October 21, 2021, Abubakar Malami, Buhari’s Attorney General of the Federation, said the Buhari regime had identified Sunday Igboho’s ‘sponsors’. We are watching! It is apparent to any unbiased observer that Buhari lacks the impartiality to be Nigeria’s leader. He is obviously a tribal irredentist. And his irredentism is seen in the way he treats terrorists and bandits who are almost 100% from his ethnic Fulani nationality, which is in stark contrast to how he treats people of other ethnicities. We do not even need to look too far to see Buhari’s parochialism. The Nigerian Federal Government has three arms, the Executive, Legislature and the Judiciary. And Buhari had abused his Presidential powers to ensure that all three of these arms are headed by Northern Muslim Males. It has NEVER happened like that in Nigeria until Buhari was foisted on the nation by Bola Tinubu and Rotimi Amaechi. Anyway, back to Igboho. For the avoidance of doubt, Sunday Igboho is independently wealthy. He does not need a sponsor. If anything, he will be the one to sponsor others. I draw the attention of my readers to the fact that sometime in February, 2021, members of the public within and without Nigeria, who valued what Igboho was doing to protect Nigerians from killer herdsmen of Fulani extraction, decided to raise funds for Mr. Sunday Adeyemo (Igboho’s real name). He stood to gain millions from those coordinated fundraisers, some of which were on the gofundme platform. However, when Igboho got wind of it, he vehemently rejected the offers and did an interview saying “I don’t need such.” And this is the person that Abubakar Malami wants us to believe is being funded or has links with one of the persons believed to be funding Boko Haram?

President Buhari

Please! We are not that stupid The announcement by Malami is just an attempt to give a dog a bad name in order to pressure the Beninese government to hand over Igboho to Nigeria, which is exactly the same stunt they pulled in Kenya (lying to the Kenyans that Kanu was a notorious terrorist). On Monday September 11, 2021, the United Arab Emirates identified six Nigerians as sponsors of the dreaded Boko Haram radical Islamic terrorist group. More than a month later, Nigeria has not followed up on this. Not only have we not followed up, we have not named even one sponsor of these terrorists. I mean does it make sense? I raised this during the #HarassBuhariOutofNewYork protests. It appears strange that a government will be this lackadaisical about going after those who sponsor terror. Is it that they know more than they are telling us? Their attempts to use Igboho and Kanu to distract us will not work. Something is off here. In this same country, Sheikh Abubakar Gumi has been bromancing with terrorists (stop calling bandits terrorists) and campaigning for them. Yet he enjoys freedom. It is Igboho who defended us from terrorists that is in jail. A sad reminder that in Nigeria, terrorism pays! How can those who bombed a train and caused the shutdown of the $2.8 billion Abuja-Kaduna railway be ordinary

Malami

bandits, while it is Kanu and Igboho who are facing terrorism charges? Buhari covers up Boko Haram’s sponsors and sets up innocents as Igboho and Kanu’s sponsors. Abdurrahaman Ado Musa, Salihu Yusuf

Adamu, Bashir Ali Yusuf, Muhammed Ibrahim Isa, Ibrahim Ali Alhassan and Surajo Abubakar Muhammad were named by the United Arab Emirates as sponsors of terrorism in Nigeria. Buhari is silent on them. Instead he is setting up Igboho on fake terrorism charges. How can you leave known terror financiers and begin to chase after nonexistent connections between Igboho and Boko Haram? Why is Buhari so blatant in his ethnocentrism? Because Nigerians are far too docile. And in proof of this, I urge Nigerians to wait, watch and see whether anything would happen to those who bombed the Abuja-Kaduna railway. The necessary noises would be made. There will be activity and processes, without any real progress. And after a month or so, the matter would be swept under the carpet, like Babachir Lawal’s trial that was and is not, and never would be as long as Buhari and the APC are in power. The same way the $25 billion Nigerian National Petroleum Corporation contract without due process was swept under the carpet. The same way the scandal of Aisha Buhari’s ADC, who allegedly looted billions was made to fade away. The same way we do not yet know who owns the Ikoyi Apartment billions after six years. Look, it is high time Nigerians woke up and smell the coffee. To borrow from

Sherlock Holmes, when you eliminate the impossible, whatever remains, however improbable, is the truth. You just have to find a way of proving it. The truth is that Muhammadu Buhari has not and is not likely to expose Boko Haram’s sponsors because he has something to hide. There is something in that truth that both Buhari and his government are uncomfortable with. And it remains the duty of all Nigerians to keep this matter on the front burner, because we do not want to unknowingly vote in terror financiers into office in 2023 as we may have done in 2015.

Reno’s Nuggets Abraham left his hometown to fulfil his purpose. Jacob left his hometown to fulfil his purpose. Moses left his hometown to fulfil his purpose. Christ left His hometown to fulfil His Purpose. Sometimes you have to leave where people see you as a small boy to live as a big man. A shark can’t grow to its full size if it is in an aquarium. There is a reason why ocean fish are bigger than river fish. And that reason is location. The strategy of your location affects the quality of your remuneration. Leave the jungle so you can earn bundles! #RenosNuggets #FreeLeahSharibu

T H I S D AY ˾ Ͱʹ, ͰͮͰͯ

FEATURES

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

Keeping Up with #EndSARS Lagos Panel A year after the #EndSARS Protest ended, Sunday Ehigiator, who spoke with some civil society organisations, reports on how far the Lagos Panel has gone, and the way forward given the recommendations made

n October 2020, the #EndSARS movement was born. The overarching objective was a clamour against police brutality, extra judicial killings and constant harassment of citizens, especially by the now defunct Special Anti Robbery Squad (SARS). Although the protest started off peacefully, it was soon hijacked by vandals and hoodlums who unleashed horror and widespread violence across Lagos after some protesters were shot at Lekki Tollgate by soldiers. The destruction that followed in its wake was unimaginable as public properties and banking institutions were razed while shops and officers were looted by the vandals. Lives were also lost with so many injured. When peace was restored, the Lagos State government set up a panel to bring peace and give claims to victims of police brutality. Tasking Process One year down the line, the burning question is how far the panel has fared. Reacting to the role of the Lagos State Judicial Panel in delivering justice to victims of police brutality in the last year, Legal Representative, Spaces for Change (a CSO handling cases in Lagos judicial panel), Eroga Godspower described the process so far as tasking. According to him, “the journey was quite a very tasking one that requires proof of cogent and compelling evidence before my Lord's, retired justices of the Supreme Court who presided over cases at the panel. “But the victims were given the liberty to prove their cases in a most organised manner in the presence of the press and media men present. So far, we are handling eight cases and four judgments so far have been delivered.” On the efforts of legal representatives who offered their services for free to victims of police brutality, he said, “Pro-bono lawyers have been tremendously helpful in structuring properly the evidence of the victims in a most presentable way due to the rules that regulate the proceedings. Hence it would have been extremely difficult for the victims to get justice.” He however identified the lack of proper communication of sitting days by the panel as one of the major challenges faced by legal representatives of victims of police brutality, and likewise called for improvement. Controversy over Death Rate Also reacting to protest and transpiring incident, the Executive Director, The Rule of Law And Accountability Advocacy Centre (RULAAC), Okechukwu Nwanguma, said: "There have been controversy and disputations over the actual number of persons killed by the military at the Lekki tollgate on October 20, 2020. "This has played out at the Lagos State Judicial Panel of Inquiry where the army, police, Lagos State government representatives, representatives of the EndSARS movement and the chief pathologist at LUTH gave testimonies and evidence. "Different figures have been presented by different groups. One of the witnesses who testified at the Lagos State Judicial panel of Inquiry said no less than 10 people were killed while several others were injured. "But even if it was just one person killed, as Dele Giwa of blessed memory wrote, one life lost in cold blood is as gruesome as a million lives lost in a pogrom. "RULAAC commends the Lagos State Judicial panel for awarding compensations to some of the victims of police brutality who brought complaints before it. No amount of money can compensate for the lives and dignity of human beings but it is a symbolic way of assuaging the pains and agony of victims and their families and also saying that the state does not tolerate human rights abuse. "Nigerians are waiting to see the government implement the recommendations of the various state judicial panels of inquiry with regard to bringing perpetrators to account. That's one way the state will send a clear message that it

The #EndSARS protest last year will not condone human rights violations. It is one way to stamp out impunity for police abuses." Respect for Human Rights Speaking in commemoration of the first anniversary of the #EndSARS protest, National Coordinator, The Network on Police Reform in Nigeria (NOPRIN), Ikule Emmanuel, noted that respect for human rights is scarce in Nigeria since the Buhari administration started. According to him, “Nigerians see Nigeria as a militarised, totalitarian country, not a democracy. Despite the gains of End SARS, human rights are still scarce as can be seen during the second protest where many persons were brutalised, packed in trucks like sardines, despite COVID-19, tortured and detained and some protesters are still in detention centres in Nigeria. “One year after, #EndSARS protesters are still in police custody, there are still attacks on police institutions/stations and officers, attacks on peaceful protesters in Lagos State, clamping down on protesters in Abuja in October 2021. Also, we have the arrest of Nnamdi Kanu and Sunday Igboho, Oyigbo Massacre, in Port Harcourt by Army, destruction of communities in Konshisha, Benue State by Army, attacks and displacement on Tiv Tribe in Taraba State in the presence of Army and their refusal to intervene or allow the Tivs to defend themselves. We also have had attacks on South-east (Army, IPOB and Unknown Gunmen) citizens. Youths are being killed daily in the name of them being IPOB members, mass abduction in the North (East & West), and others too numerous to mention.” Gains of the Protest On if he would regard the October 20, 2020 #ENDSARS protests as successful, Emmanuel said, “the protest was a successful one because it brought to fore issues that have been plaguing the country, the culture of human right abuse, gained national recognition and enabled the government to be more responsive despite its unlawful Nature. “The following is as a result of #EndSARS

protests. More persons can now stand for their right as a departure of what was before #EndSARS, the passage of Police Act 2020, formation of the board of Nigerian Police Trust Fund (NPTF 2019), the public hearing on Police Service Commission Act 2020, establishment Act of the Police Training Institute, a compilation of all police reform reports in Nigeria. “Also is, formation of the Board of Trustees of the NHRC, formation of Judicial Panel of Inquiry in 30 States in Nigeria including Abuja, the release of protesters without bail money as has been the case before, decongestion of correctional centres (Some petty offenders were released in some state), and passage of VAPP Act, Anti-Torture Act and ACJA in States to curb impunity etc.” Current State of Police Infraction with the Public On the current state of relationship between the police and the public, Emmanuel said: “Community-Police relationship has not been cordial before #EndSARS and it worsened with EndSARs. After EndSARs police institutions were attacked as a response to attacks, citizens have been getting from security personnel, ranging from brutality, unlawful arrest and detention, raids and extortion, confiscations of equipment/cars/houses, torture and extrajudicial killings. “During these attacks, the security personnel were also carrying similar attacks which led to the loss of lives and property of both security agents and citizens. The situation now, the relation is worse as can be seen in the South East, Benue State, Lagos. So, the men in uniform have not stopped being brutal coupled with the militarized regime and the lack of accountability in security agencies have not helped as these erring officers are usually not punished.” Way Forward On the way forward, Emmanuel noted that there is a need to entrench justice, fairness and equity in our systems in Nigeria. In the absence of these, it would be the same old stories without a solution. “There is need for reorientation of all

Nigerians are waiting to see the government implement the recommendations of the various state judicial panels of inquiry with regard to bringing perpetrators to account. That's one way the state will send a clear message that it will not condone human rights violations. It is one way to stamp out impunity for police abuses

security agents on their roles, duties, Nigerian laws and need for clear emphasis on respect for rule of law for and on everyone especially the poor. There is a need to decriminalise poverty in Nigeria. Mostly the poor suffer at all aspects in Nigeria as it relates to access to resources and they are the ones in detention, police custody etc. "There is a need for all erring officers to be punished as well as erring citizens who actually also violated the law in the destruction of public property. There is a need to release all peaceful protesters still in security custody and compensate for the families of affected citizens and security officers. There is a need for the presentation of the recommendation of the panels of Inquiry in states, acceptance by the people and implementation of the recommendation by the states. "There is need to bring to book all terrorist organisations like Boko Haram, Miyetti Allah, Fulani Herdsmen, check the activities of Hisbah, as well as the conduct of sitting and former executives who are sponsoring the activities of hoodlum and terrorist organizations in maiming the lives of citizens. “There is a need to also check the activities of overzealous religious, traditional and opinion leaders who have been consistent in misleading the people, causing crises and building hatred for certain sections of the country. There should be more emphasis on developing the Country than promoting religion and tribalism, sectionalism, and ethnicism, etc. "There is a need for technology. There is a need for the inclusion of youths in decision making, in the involvement of technology. There are series of solutions that tech can provide especially as to tracking, data on crime, forensics as this would reduce and address the culture of torture inherent in our security system. The welfare of security agents both those in service and retired should be looked into to address the need for the unnecessary wrong ways to support oneself and live better lives. There is a need to implement the ACJA/ACJL, VAPP Act, Anti-Torture Act. "There is a need for a town hall meeting of all stakeholders including the victims of Lekki Massacre with the governor, security agents that were involved and the judicial panel of Inquiry, to resolve issues resulting from Lekki attacks. “There is also a need for effective implementation of the Nigeria Police Trust Fund. The resources should be channelled towards training and refurbishment of police institutions (especially training institutions and stations affected by attacks by hoodlums) not just buying vehicles as has always been the case before now. There is a need for public accountability of funds accessed and spent. “Secondly, the army should go back to their mandate and allow the police to carry out their policing duties. They should refrain from following the dictates of the executives when its directives are not in line with their duties, for the good of the citizens, state or selfish in Nature. "The military should be moved to North-east & West to tackle Boko Haram once and for all, members arrested should be made to face the wrath of the law. EFCC & DSS should also keep to their mandate and use the required guidelines in working instead of carrying out raids in the night like criminals. All security agents who have erred should be punished to serve as a deterrent to others.” Also, Yiaga Africa urged states urged states that have completed their panels to make their reports available. "As we mark one year of the #EndSARS protest this October, Yiaga Africa calls on state governments where panels have been suspended to resume sitting and conclude the hearings. We also call on both the Federal and State government to ensure the full implementation of the 5 for 5 demands which includes key proposals demanding immediate police reform critical to ensuring that police brutality is eliminated," read a statement by the group.

T H I S D AY ˾ Ͱʹ, ͰͮͰͯ

FEATURES

Improving Markets for Underserved Communities in Northern Nigeria By helping smallholder farmers in Nigeria's rural communities in the North, Chiemelie Ezeobi reports that Propcom Mai-karfi, a UK Aid funded programme, has been leveraging the private sector, and working with state actors to drive key policies and promote pro-poor opportunities and inclusive market growth for such underserved communities

UK’s Deputy High Commissioner in Lagos, Ben Llewellyn-Jones

Deputy Governor, Jigawa State, Alhaji Umar Namad

Cross section of guests at the event

An expert of panel of key partners of the Propcom Mai-karﬁ programme discussing economic recovery and opportunities targeting the rural poor in Northern Nigeria

n Northern Nigeria, Propcom Mai-karfi, a UK Aid funded programme, has supported over 1.25 million persons to generate over N37 billion in income over the past nine years. How did that happen you might ask? By leveraging the private sector, and working with state actors to drive key policies and associated market reforms, Propcom Mai-karfi tackled market constraints with the goal of improving markets for the benefit of poor women and men in Northern Nigeria. Objectives According to Press & Public Affairs Officer, Foreign Commonwealth and Development Office, Ndidiamaka Eze, Propcom Mai-karfi is a market development programme funded by the UK Government and managed by Palladium International. "The programme uses a market engagement approach in which the core focus is to tackle systemic constraints in markets to unlock opportunities for target beneficiaries in the North of Nigeria. Starting in 2012, the programme was initially implemented in all 19 Northern states. By April 2018, the focus shifted to the six North-east states and Kaduna, Kano and Jigawa. "In the last three years of implementation, the programme’s objectives were to drive economic recovery in conflict affected regions by promoting successful inclusive business models, help smallholder farmers build their resilience against climate change through access to and adoption of climate smart technologies and practices, and continue to foster inclusion of women and people with disabilities. " These objectives were achieved through select interventions across six market areas – agricultural inputs, mechanisation, aggregation/storage and offtake, climate smart agricultural initiatives, poultry, and livestock, and cross-cutting – access to finance and extension services. "The market engagement approach was adapted to increasingly focus on post-conflict affected areas in the North-east. This was to enable beneficiaries to re-engage in sustainable livelihood activities and

disengage from dependency on the direct delivery of support from local, national, and international agencies. "Primarily working with private sector businesses, some international non-governmental organisations (INGOs), non-governmental organisations (NGOs) and some government agencies, the Programme sought to identify constraints and drive opportunities in market systems for the benefit of poor people." Impact Recently, the UK Aid funded programme hosted a closing event at the Sheraton Hotel in Abuja along with key stakeholders in the agriculture sector. But prior to the event, the ground work done cut across as the UK Government’s investment in agriculture has expanded market access and catalysed private sector investments to create economic opportunities for smallholder farmers in Northern Nigeria. In attendance was the Deputy High Commissioner in Lagos, representatives of the UK Government and other donor agencies, commissioners of agriculture in implementing states, development sector partners, private sector stakeholders and civil society organisations. According to Eze, the event provided a platform for Propcom Mai-karfi "to tell its story of impact and to advance discussions on sustaining successes recorded over the years. "Strategies for promoting inclusive business models for the private sector, prospects for transformation of the

public sector, and opportunities for donors and development partners to improve the effectiveness and efficiency of development support into the region were shared". At the event, UK’s Deputy High Commissioner in Lagos, Ben LlewellynJones, said: "We are very pleased to be able to celebrate today with all our partners the impact Propcom Mai-Karfi has made in Northern Nigeria over the last nine years. Its success has only been possible due to the drive, motivation, and willingness of our partners to adopt the market-driven approaches that ultimately create greater economic opportunities for poor men and women. The UK remains committed to supporting inclusive and climate resilient growth in Nigeria, and we look forward to continuing these partnerships.” Also speaking, Commissioner of Agriculture, Kaduna State, Hajiya Halima Lawal said: "I want to applaud the UK Government and to offer my congratulations to the entire Propcom Mai-karfi team for the considerable achievements in developing agriculture over the years, especially in promoting pro-poor opportunities and inclusive market growth in Northern Nigeria, and thereby improving the livelihood of citizens in our state and the region. As a state, we remain committed to facilitating and attracting investments and look forward with keen anticipation to future collaborations with the UK government.”

In its facilitative capacity, Propcom sustainably expanded market access to agricultural inputs and services, trade linkages and fostered business and regulatory reforms leveraging billions of Naira in investments from the public and private sectors

In turn, Kevin Gager, national team leader, Propcom Mai-karfi said: “Defining and/ or sustaining various paths to economic recovery and growth demands that existing knowledge and experiences be accounted for in the process. Propcom’s closing event offered up our wealth of experience for everyone to share in the future development efforts in Northern Nigeria.” M4P Approach Essentially, Propcom Mai-karfi deployed the ‘Making Markets Work for the Poor – M4P’ approach which focuses on tackling the constraints that affect the markets that poor people participate in so that they can derive higher benefits and values from better functioning market systems. The programme targeted market systems with opportunities for poor farmers. It identified factors causing them to perform poorly and facilitated relevant players in the markets to address those underlying constraints. In so doing, Propcom helped to build the capacity of smallholders in climate smart agriculture and helped to provide the knowledge for them to improve their productivity and overall production. Thus, by helping smallholders generate increased income, the programme stimulated economic recovery in Northern Nigeria to the tune of N37 billion in public and private sector investment. Sustainability For Deputy Team Leader, Propcom Maikarfi, Ogheneovo Ugbebor, "at the heart of Propcom Mai-karfi was sustainability. The programme assumed only a facilitatory role, never direct delivery, thereby allowing key actors to drive the process from the outset. Importantly, Propcom’s intervention designs and strategies were built on the motivation and incentives of key players to act now and in the future, creating the needed drive for continuity. " In its facilitative capacity, Propcom sustainably expanded market access to agricultural inputs and services, trade linkages and fostered business and regulatory reforms leveraging billions of Naira in investments from the public and private sectors.”

TUESDAY, OCTOBER 26, 2021 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

UN: 23 Million Afghans Face Acute Hunger United Nations agencies warned Monday that humanitarian needs in Afghanistan have grown to unprecedented levels. More than half of the conflict-torn country’s population, a record 22.8 million people, will “face acute food insecurity” from November. The Food and Agriculture Organisation and World Food Program said in a joint study the combined impacts of drought, conflict, and economic decline have severely affected lives, livelihoods, and Afghans’ access to food. “Among those at risk are 3.2 million children under-five who are expected to suffer from acute malnutrition by the end of the year,” the study said. The latest UN findings come as the looming harsh winter threatens to cut off areas of Afghanistan where families desperately depend on humanitarian assistance to survive the freezing winter months. Coup: Sudan General Declares State of Emergency, World Leaders Kick Sudan’s military seized power in an apparent coup Monday, with a top general declaring a nationwide state of emergency and announcing the end of a joint civilian-military council that ran the country for the past two years. Lt. General Abdel Fattah Al-Buhran made a televised address after military forces arrested Prime Minister Abdalla Hamdok and other officials of the formerly ruling Sovereign Council. The general said he dissolved the council and the government due to “political quarrels that were threatening the security of the country,” and announced that a “new government of technocrats will soon be appointed.” Journalist Michael Atit, who is in the Sudanese capital, told VOA’s South Sudan in Focus that thousands of protesters flooded the streets of Khartoum following reports of Hamdok’s arrest. United Nations Secretary-General Antonio Guterres has called for the “immediate” release of Sudan’s detained leaders following an apparent military coup. The Sudanese Professionals Association, a group consisting of trade unions, called on the public Monday to occupy the streets to protect the transitional government. The association was instrumental in organising protests that led to the 2019 deal. Separately, the Arab League and Egypt echoed remarks calling for political agreements to be upheld, as did the African Union.

Whistleblower Haugen to Testify as UK Scrutinises Facebook Former Facebook data scientist turned whistleblower Frances Haugen plans to answer questions Monday from lawmakers in the United Kingdom who are working on legislation to rein in the power of social media companies. Haugen is set to appear before a parliamentary committee scrutinising the British government’s draft legislation to crack down on harmful online content. Her comments could help lawmakers beef up the new rules. She’s testifying the same day that Facebook is set to release its latest earnings and that The Associated Press and other news organisations started publishing stories based on thousands of pages of internal company documents she obtained. It will be her second appearance before lawmakers after she testified in the US Senate earlier this month about the danger she says the company poses, from harming children to inciting political violence and fueling misinformation. Haugen cited internal research documents she secretly copied before leaving her job in Facebook’s civic integrity unit. The documents Haugen provided to the US Securities and Exchange Commission alleging that Facebook prioritised profits over safety and hid its research from investors and the public. Some stories based on the files have already been published, exposing internal turmoil after Facebook was blindsided by the January 6 US Capitol riot and how it dithered over curbing divisive content in India, and more is to come. Facebook CEO Mark Zuckerberg has disputed Haugen’s portrayal of the company as one that puts profit over the well-being of its users or that pushes divisive content. Russian Govt Adds Anti-Corruption Journalist to ‘Wanted List’ Noted Russian journalist Sergei Reznik, who specialises in anti-corruption investigations, has been added to the Interior Ministry’s wanted list. Reznik’s name was added to the wanted list over the weekend, local media reported. He is thought to be living outside of Russia. No details for his placement on the list were provided, though some media reports cited law enforcement sources as saying that Reznik is wanted for the alleged

“justification of Nazism.” The accusation stems from unspecified social-media posts that appeared on accounts suspected of being connected to him, they added. In 2013, Reznik, who is from the Rostov region, was sentenced to 18 months in prison on charges of bribery and publicly insulting an official representative of the authorities. Later, he was sentenced to another 18 months in prison after a court found him guilty of false denunciation. Reznik maintained his innocence and continued to work as an investigative journalist after serving prison terms. He says that a total of seven criminal cases have been opened against him, with all of the alleged victims being prosecutors, judges, or police officials. China to Vaccinate Children Aged 3 as COVID Cases Spread Children as young as three will start receiving COVID-19 vaccines in China, where 76% of the population has been fully vaccinated, and authorities are maintaining a zero-tolerance policy toward outbreaks. Local city and provincial level governments in at least five provinces issued notices in recent days announcing that children ages 3-11 will be required to get their vaccinations. The expansion of the vaccination campaign comes as parts of China take new clampdown measures to try to stamp out small outbreaks. Gansu, a northwestern province heavily dependent on tourism, closed all tourist sites Monday after finding new COVID-19 cases. Residents in parts of Inner Mongolia have been ordered to stay indoors due to an outbreak there. The National Health Commission reported 35 new cases of local transmission had been detected over the past 24 hours, four of them in Gansu. Another 19 cases were found in the Inner Mongolia region, with others scattered around the country. China has employed lockdowns, quarantines and compulsory testing for the virus throughout the pandemic and has largely stamped out cases of local infection while fully vaccinating 1.07 billion people in its population of 1.4 billion. Based on public data, China’s most widely used vaccines, from Sinopharm and Sinovac, have shown efficacy in preventing severe

disease and transmission of the virus. But the protection they offer against the delta variant has not been answered definitively, although officials say they remain protective. Uzbekistan’s Leader Wins Reelection Uzbekistan’s incumbent leader has won a second five-year term in the tightly controlled Central Asian nation, preliminary results showed Monday. President Shavkat Mirziyoyev received 80.1% of Sunday’s vote, the country’s Central Election Commission announced. Mirziyoyev, who took office in 2016 following the death of longtime President Islam Karimov, has relaxed many of the policies of his dictatorial predecessor but maintained rigid controls over the political scene. In Sunday’s election, he faced four relatively low-visibility candidates who did not even show up for televised debates instead of sending proxies who failed to engage in substantial discussions. Independent candidates weren’t allowed, and if it had not been for the billboards presenting the candidates and text messages sent by the government reminding voters about the forthcoming election, the campaign would have been hard to spot. Jahongir Otajonov, a popular singer and representative of the unregistered Erk party, whose leaders are in exile, quit the race under intense pressure. Khidirnazar Allakulov, the leader of the Hakikat va Tarakkiyot party, also wasn’t allowed to run. Despite the absence of significant competition, voter turnout was strong at 80.8 per cent.

Amnesty International to Shut Down Hong Kong Oﬃce Amnesty International says it is shutting down its two offices in Hong Kong by the end of the year because of the effect of the national security law that Beijing imposed on the city. Hundreds of people, including several prominent pro-democracy activists, have been arrested and tried since the Chinese legislature approved the law in 2020 in response to massive and sometimes violent pro-democracy demonstrations the year before. Under the law, anyone believed to be carrying out terrorism, separatism, subversion of state power or collusion with foreign forces could be tried and face life in prison if convicted.

LAWYER TUESDAY, OCTOBER 26, 2021

UT H

& RE A S O

WEEKLY PULLOUT

UT H

The Pandora Papers Exposé

& RE A S O

TUESDAY, OCTOBER 26, 2021 • T H I S D AY

IN THIS EDITION

Effect of Retraction of a Voluntary, Direct Confessional Statement Page IV

QUOTABLES ‘There are many things the Supreme Court has said, that have not been followed….. Take for example, cross-carpeting……The Supreme Court has given a decision on that. Who is to implement it? INEC…..The Supreme Court doesn’t have executory powers to force you…..’ - Hon. Justice Olabode Rhodes-Vivour CFR, Retired Justice of the Supreme Court of Nigeria

‘The oil producing areas are the geese that lay the golden eggs, so they have to survive. They have to be cushioned and defended from the vagaries of oil production. Trying to smuggle in people over whose territories oil pipelines pass, is being clever by half!’ - Professor Akin Oyebode MON, Professor of International Law & Jurisprudence, Pioneer Vice Chancellor, Ekiti State University

Fapohunda, Omorogbe, and 70 Others, Elevated to the Rank of SAN Page V Page V

Fapohunda, Omorogbe, and 70 Others, Elevated to the Rank of SAN Page V

III THE ADVOCATE

T H I S D AY • TUESDAY, OCTOBER 26, 2021

#EndSARS Protest: Picking the Pieces

ast week Wednesday marked the 1st year anniversary of the #EndSARS Protest of October 20, 2020; and it was sad to see that nothing has really changed for the better. With the lives that were said to have been lost during the Protest, and many other lives lost due to Police brutality (may the souls of the departed rest in peace. Amen), it is really as if these poor souls died in vain, as it certainly has not constrained the Nigeria Police to change their ways, and become law abiding. Outcome of the #EndSARS Protest In terms of the outcome of the #EndSARS Protest, it should have been two-fold. One part would be the reform of the Nigeria Police Force, while the second, the Reports of the Panels of Inquiry and the actions taken thereafter in terms of victim compensation, the prosecution of erring law enforcement agents and any hoodlums who were apprehended for whatever offences they are accused of committing during that time. 1) Institutional Reforms Obviously, we do not expect the reform of the Police to take place in one day, but it should have commenced immediately after the Protest if Government is really serious about it, starting from the foundation, like how the IG is appointed etc. Unfortunately, there has been no notable institutional reform. The disbandment of SARS in favour of SWAT, is simply a change in nomenclature, and nothing more. The Police are still poorly paid; their mode of selection and conditions of training, suspect; conditions of service abysmal; and the “I will kill you, and nothing will happen” narrative which Police Personnel are infamous for, is still very much at play today, despite the #EndSARS Protest. Isn't it ironical, tragicomic really, that the body whose constitutional mandate is to maintain law and order and protect the people, is one of the worst lawbreakers in our society? See Section 4 of the Nigeria Police Act 2020. Also see the case of Fawehinmi v IGP 2002 7 N.W.L.R. Part 767 Page 602 per Uwaifo JSC on the duties of the Police. Their slogan, "Police Is Your Friend" which features prominently at Police Stations around the country, is a sham - meaningless, worthless, and mostly, the opposite of what actually obtains in reality. On the contrary, Nigerians are scared of the Police, because they are largely trigger-happy, corrupt to the highest levels of criminality, vicious and bloodthirsty. The fear of the Nigeria Police Force and all weapon-bearing security agencies in Nigeria, is the beginning of wisdom! I would venture to declare that, “Au contraire, Police Is Your Enemy”! Nigerians recently saw a videoclip of Policemen terrorising passengers travelling in a commercial vehicle in Kogi State, threatening to open fire. They were said to have taken a passenger to a cashpoint (ATM), where he was forced to withdraw a sum of money and give to the Policemen. This is nothing short of armed robbery, and those Policemen should be charged to court accordingly, after facing their Orderly Room trial for dismissal. For once, I do agree with the Minister of Information, Alhaji Lai Mohammed, that Police Personnel should undergo regular psychological screening. I also believe that similar psychological screenings, should also be extended to Government functionaries - Ministers and so on. Deplorable and Condemnable Show of Shame: Assault of Arise TV Staff I also watched with shame, fear, and utter disgust, the videoclip of how Arise Television Correspondent, Adefemi Akinsanya, was bullied and manhandled, in a nutshell, assaulted last Wednesday, simply because she was trying to do her job as a News Anchor at the Lekki Tollgate. Ditto for Seyitan Atigarin, another Arise TV Correspondent, who was threatened with teargas. Arise TV drones were also aggressively plucked from the air, and seized by the Police. So much for Sections 22, 39, 40 & 41 of the Constitution - Freedom of the Media, of Expression and the Press, of Peaceful Assembly and Association, and of Movement - they seem to be almost non-existent in Nigeria; that of freedom of movement has also been curbed as a result of insecurity, as well as the non-Muslims avoiding the Sharia States because of the Hisbah Police. See the case of Olufunmilayo Ransome-Kuti & 3 Ors v AGF, Chief of Army Staff & 7 Ors 1985 2 N.W.L.R. Part 6 Page 211 on the uniqueness and importance of fundamental rights. Should I bother to repeat myself and say that it is the duty of the Police to protect Protesters and the media that attend any type of Protest or Demonstration, not to brutalise them, unless of course, we are in an autocratic, despotic Police State where the duty of the Police is to stamp out dissension? In the past, I had observed several times on this page that Nigeria is fast descending into a Police State, where Government is totally

Protest is yet to achieve the desired results.

ONIKEPO BRAITHWAITE

Dear Editor

onikepo.braithwaite@thisdaylive.com onikepob@yahoo.com Twitter: @TheAdvocate

Re: Do Direct Primaries Make for Internal Democracy? Dear Editor,

The

Advocate “The Police are still poorly paid; their mode of selection and conditions of training, suspect; conditions of service abysmal; and the “I will kill you, and nothing will happen” narrative which Police Personnel are infamous for, is still very much at play today, despite the #EndSARS Protest” intolerant of any form of criticism. How Adefemi and Seyitan were treated by the Police last Wednesday, is deplorable and condemnable - another example of how a Police State operates. The Policemen who perpetrated the crimes against these young ladies, should also be arrested, dismissed from service and charged with Assault with intent to cause grievous bodily harm. 2) Panels Inquiry,Victim Compensation and Prosecution of Erring Law Enforcement Agents and Miscreants Only 28 out of 36 States set up Judicial Panels of Inquiry. Eight have submitted their Reports to the National Economic Council, while one submitted an Interim Report. Some States like Lagos and Ekiti have paid a few compensations. We heard some shocking testimonies from some of the witnesses, while the Lagos State Panel inquiry was ongoing, but, to the best of our knowledge, no law enforcement agents have been prosecuted for their brutality or extra-judicial killings. Conclusion So far, the #EndSARS Protest was successful in bringing many issues to the fore. But, in terms of results, it doesn’t seem as if the success rate has been up to even 30%, since Government has not implemented the demanded institutional reforms in the Police (apart from the Police Act which was passed in 2020 before the Protest, over 70 years after the previous Police Act of 1943). In the five demands of the Protesters, we do not know if all the Protesters in 2020 were released, but certainly new ones were brutalised and arrested, during the first year anniversary last Wednesday. I also don’t know how independent the 28 Panels of Inquiry,

could have been said to be. Last year, I had expressed my reservations that - nemo judex in causa sua - no one should be a judge in their own cause. The Police is a Government Agency, but the Government played a huge role in the Panels. For instance, will the Lagos State Panel of Inquiry be independent and bold enough to indict the Lagos State Government, for allegedly inviting the Army to the Lekki Tollgate, an action which is alleged to have resulted in the death and injury of unarmed Youths? I’m not sure that the Panels may have met the acceptable standards of independence, especially as, in the face of all the testimonies that Nigerians have heard, the Minister of Information (Disinformation) still has the temerity to maintain that there were no fatalities during the #EndSARS Protest, and that no live bullets were used at the Lekki Tollgate that ‘Black Tuesday’, in spite of the fact that CNN has provided concrete, overwhelming evidence to the contrary, which has not been rebutted or refuted with the same standard of proof as CNN or acceptable legal standards of proof. Certainly, the Panels of Inquiry not only did not meet the 10 day ultimatum given by the Youths (which would have been impossible to meet), many victims are yet to be compensated, while the perpetrators of Police brutality are yet to be prosecuted. The combination of the body language of the Minister of Information one year later, the

Federal Government’s inaction as far as the implementation of urgently required sweeping Police reforms, the fact that all victims have not been compensated, nor offending law enforcement agents, including the soldiers that opened fire at the Tollgate are yet to be prosecuted, shows that, to date, the #EndSARS

Direct primaries are definitely the way to go. The amendment was moved in the House by my humble self three months ago, and that’s the House version. The Senate, a week ago, agreed with me, and I stand firmly by it. Whether it is perfect, is not the question. The question is, which is better for democracy? Giving ownership to the party members and empowering them, and asking the elected to be more accountable to them; or allowing one or two men sit in a room and draw up a list of delegates, thereby, determining the fate of elected members, some of whom their stewardship to their constituents or Nigeria in last four years is not in doubt? If I know my fate is in hands of a Governor, I will not be accountable to the electorate, and they will just see me for four years. We all complain about the NASS, and how come only 20% return every four years. Indirect primaries is the reason. It is not because they are unpopular, or that their constituents do not want them. I can give you several examples, like Nnena Ukeje. What a waste of talent! I’m not sure you want a system where you, Ikepo, will toil and work hard for four years, and when it’s time for re-election, your Governor decides he wants his wife’s cousin who knows nothing, to take over from you. It’s not good for the constituents, neither is it good for institutional memory or development. It’s not democracy. I think it’s an unkind cut, to label the desire as self serving. Even if it were, so what? I’m sure if you worked in an organisation, you would do all you can to keep your job. There’s a reason why, all over the world, Legislators have no term limit, unlike the Executive. Let’s applaud the Legislators, for taking a bold step and doing the right thing. Indirect primaries is best for me as a person, as I have all my delegates; however, it is better to go and test my popularity at the polls. It gives more legitimacy to the mandate. If I lose, I lose. End of. I am facing a lot of pressure to change my amendment, but, this is for posterity; and if it’s the one legacy I leave after my tenure that will change the face of democracy in Nigeria, I stand by it. Hon. Femi Gbajabiamila, Lawyer, Speaker, House of Representatives, 9th National Assembly, Federal Republic of Nigeria Dear Mr Speaker, While I do not disagree with the points you have made - they are extremely valid, we just hope that Direct Primaries won’t exclude the less financially buoyant aspirants. Like I said in my editorial, people who are able to fund vote buying in general elections, will definitely be able to replicate the same style amongst party members during primaries. And, since they have huge funds to throw around, those who don’t, may still automatically lose out. It is unfortunate that our electoral process, even within the political parties, is so warped. Look at how many parallel Congresses took place recently. As a people, we have still not imbibed the culture of free and fair elections, and so, though Direct primaries may have the desired effect if it is implemented in a country that runs elections properly, I fear that it won’t make much of a difference here. Let’s hope that I am wrong. Only time will tell. We can look at the bright side - Rome was not built in a day, but it was eventually built! Editor P.S.

#EndSARS Protest

Editor, Indirect primaries are actually more expensive than Direct. Everyone in politics knows that for the simple reason that how many people, or how many votes do you want to buy? It’s just not possible. It is during Indirect Primaries, that people go on a shopping spree for delegates. In Indirect Primaries, 100, 200 Delegates, sometimes a million per Delegate is paid, depending on the stakes. Sometimes for the hard core, it a Forex

Bazaar.

IV LAW REPORT

TUESDAY, OCTOBER 26, 2021 • T H I S D AY

Effect of Retraction of a Voluntary, Direct Confessional Statement Facts Two meetings were held within the Evbuekpan Community, to resolve a pending dispute between two youth groups. One meeting was held in PW1’s compound (the deceased’s father), while the second meeting was held at the Appellant’s home. PW1 received an information that his son had gone missing. While searching for his son, two boys informed him that his son had been killed. He received the news in the evening, and a search at dawn led to the discovery of his son’s corpse. Thereafter, a report was made to the Police and a team accompanied PW1 to the scene. The body of the deceased was found covered in a plantain plantation, and PW1 identified the corpse as that of his son. The following day, PW1 went to make a statement at the Police Station. While at the Police Station, the Appellant arrived with his Lawyer and allegedly informed the Police, in the presence of PW1, that he shot the deceased. Thereupon, the Appellant was arrested, and was eventually charged to court. In proof of its case, the Prosecutor called four witnesses and tendered exhibits, including Exhibit B -the Appellant’s extra-judicial statement which was confessional. The Appellant challenged the voluntariness of the statement, and a trial-within-trial was conducted, after which the court ruled that the statement was voluntarily made and admitted it in evidence as Exhibit B. The trial court found the Appellant guilty of murder, and sentenced him to death by hanging. The Appellant’s appeal to the Court of Appeal was unsuccessful; hence, the further and final appeal to the Supreme Court.

Honourable Kudirat Motonmori Olatokunbo Kekere-Ekun, JSC In the Supreme Court of Nigeria Holden at Abuja On Friday, the 7th day of May, 2021 Before Their Lordships

Kudirat Motonmori Olatunbo Kekere-Ekun John Inyang Okoro Ejembi Eko Ibrahim Muhammad Musa Saulawa Adamu Jauro Justices, Supreme Court SC. 948/2017

Issues for Determination In its resolution of the appeal, the Supreme Court considered the following sole issue for determination: “Whether the Court was right in affirming the judgement of the trial court, which held that the Prosecution proved the Appellant’s guilt beyond reasonable doubt?” Arguments On the sole issue, counsel for the Appellant submitted that in criminal cases, and particularly in murder cases which carry death penalty, the onus is on the Prosecution to prove the guilt of the accused person beyond reasonable doubt. Counsel submitted that, the onus of proof remains on the Prosecution and does not shift. He relied on the decision in MORKA v THE STATE (1998) 2 NWLR (Pt. 539) 294 at 301 and Section 138 of the Evidence Act, 1990 in support of his position. Counsel noted that the trial court relied on the evidence of PW1, PW4 and the Appellant’s confessional statement (Exhibit B), in convicting the Appellant. He contended that the only aspect of PW1’s testimony linking the Appellant to the crime, was PW1’s evidence that he was at the State CID when the Appellant, in company of his Lawyer, told the Police that it was he who shot the deceased. He submitted that PW1’s evidence in court was at variance with the statement he made to the Police on 23rd August, 2021 (Exhibit A), where he named those he suspected to have killed his son. Counsel contended that PW1’s evidence, amounts to hearsay. He noted that during trial, the Appellant testified that the statement was obtained under duress, and that the statement was obtained on 30th August, 2010, five days after his arrest. Counsel submitted that PW4 was not an eyewitness to the crime, and could not therefore, testify that he knew it was the Appellant who shot the deceased, having testified that he met him for the first time on 25th August, 2010. He posited further that the failure of the Prosecution to state the time the incident occurred in the Charge, was a vital omission. As regards Exhibit B, counsel reiterated the requirements for the admissibility of a confessional statement, as stated in PATRICK NJOVENS & ORS. v THE STATE (1973) 4 SC 17.

Between Enajike Okeremute

Appellant

And The State

Respondent

(Lead Judgement delivered by Honourable Kudirat Motonmori Olatokunbo KekereEkun, JSC)

He submitted that the Appellant alleged that he was tortured, and that he was not permitted to write his statement himself even though he is literate. Counsel argued that the Prosecution failed to discharge the onus of proving that Exhibit B was made voluntarily, and argued that the lower courts were wrong to have relied on it in sustaining the conviction. Responding to the submissions above, counsel for the Respondent conceded that to prove the Charge against the Appellant, the standard of proof is beyond reasonable doubt; however, proof beyond reasonable doubt does not mean proof beyond any shadow of doubt - MILLER v MINISTER OF PENSIONS (1947) 2 ALL ER 372; Section 36(5) of the Constitution of the Federal Republic of Nigeria 1999 and Section 35 of the Evidence Act, 2011. Counsel also set out the ingredients of the offence of murder, and submitted that the testimony of PW3 proved that the deceased died as a result of gunshot wounds to his right upper back which lacerated his heart and lungs, and caused severe bleeding or haemorrhage. Counsel also referred to the evidence of

“The law is indeed, trite, that a confessional statement which is voluntary, properly proved, direct, equivocal, is sufficient to sustain a conviction, even where it is subsequently retracted at the trial”

PW1 and PW4 who testified that the Appellant came to the Police Station in the company of his Lawyer, and confessed to the commission of the crime in their presence. He referred to Exhibit B, the Appellant’s confessional statement which was reproduced, and submitted that these pieces of evidence clearly established that the death of the deceased resulted from the act of the Appellant. He submitted further that the act of the Appellant was intentional, with knowledge that death or grievous bodily harm was its probable consequence. In all, counsel submitted that the Prosecution proved its case beyond reasonable doubt, and the lower court was right to have affirmed the conviction and sentence. With regard to the submission that the testimonies of PW1 and PW4 amounted to hearsay, counsel argued that their evidence were not hearsay, relying on the provisions of Section 126 of the Evidence Act, 2011 on what amounts to hearsay. He submitted that PW1 and PW4 testified as to what they heard directly, and not information given to them. As regard Exhibit B, counsel submitted that once a confessional statement is admitted in evidence, it becomes part of the Prosecution’s case - KOLADE v THE STATE (2017) 8 NWLR (Pt. 1566) 89. He urged the court that the procedure adopted by the learned trial judge at the trial-within-trial, is in line with the decision of the court in HASSAN v THE STATE (2017) 5 NWLR (Pt. 1557) 28 and Section 29 of the Evidence Act. Counsel submitted further that the retraction of a confessional statement at the trial does not render it inadmissible, and the court can convict solely on the confessional statement of an accused person if it is voluntary, direct, positive, and properly proved.

Court’s Judgement and Rationale Before delving into the determination of the sole issue, the court addressed the submission that the Prosecution failed to indicate the time the offence was committed in the charge. Their Lordships held that the appropriate time to complain or object to a Charge is at the time it is being read, and before the Accused makes his plea, and not later - OKEWU v F.R.N. (2012) 9 NWLR (Pt. 1305) 327. In deciding the sole issue, the court held that, both counsel stated correctly the position of the law on the onerous burden placed on the Prosecution in establishing the guilt of a person charged with a criminal offence, which is proof beyond reasonable doubt and not proof beyond the shadow of doubt. Proof beyond reasonable doubt means proof as satisfies the judgement and conscience of a Judge as a reasonable man, and applying his reason to the evidence before him that the crime charged has been committed by the Defendant, and so satisfies him as to leave no other reasonable conclusion possible - AFOLALU v THE STATE (2010) 16 NWLR (Pt. 1220) 584. The Supreme Court stated the ingredients of the offence which must be proved beyond reasonable doubt under Section 319(1) of the Criminal Code of Bendel State, applicable in Edo State, are that: (i) the deceased died; (ii) the death of the deceased resulted from the act of the accused; and (iii) the action of the accused was intentional, with knowledge that it might result in death or grievous bodily harm. Pronouncing on each ingredient that must be proved, the Supreme Court held that as regard the fact that the deceased died, it is not in contention, and the Appellant did not challenge the finding of the lower court in that regard, and has not shown it to be perverse; it is supported by evidence on record. On the proof that the death of the deceased resulted from the act of the accused person, the court held that, the learned trial Judge relied on the evidence of PW1, PW4 and Exhibit B. PW1 testified as to what he heard directly from the Appellant, and his evidence was not hearsay. The court relied on Sections 37 and 38 of the Evidence Act and UTTEH v THE STATE (1992) 2 NWLR (Pt. 223) 257, for the definition of hearsay. The court further stated that there can be no better evidence of the commission of a crime, than the eyewitness account of the accused himself. Nonetheless, both courts examined the evidence of PW3 and PW4 and the testimony of these witnesses were not discredited. Though the Appellant retracted the statement made at trial, the court conducted a trial-withintrial and satisfied itself that the statement was made voluntarily. Having so found, the court was entitled to consider it along with other evidence before it, to determine the guilt or innocence of the Appellant. The law is indeed, trite, that a confessional statement which is voluntary, properly proved, direct, equivocal, is sufficient to sustain a conviction, even where it is subsequently retracted at the trial. The court also noted that, there was no appeal against the ruling of the trial court on the trial-within-trial. Therefore, it was too late in the day for learned counsel to raise the issue of voluntariness of the statement, at this stage. On the final ingredient of the offence that the killing was intentional with the knowledge that death or grievous bodily harm would be the likely outcome, the court held that it is fathomable that in shooting the deceased in the back at close range, even as he was running away, death or grievous bodily harm was the natural consequence. Therefore, it can be inferred that the Appellant intended the natural consequences of his act. Relying on the authority of GARBA v THE STATE (2000) 4 SC (Pt. II) 157, their Lordships held that the third ingredient was also proved beyond reasonable doubt. The court concluded that the Appellant did not succeed in persuading the court to interfere with the concurrent findings of fact made by the two lower courts, same having not been shown to be perverse. Appeal Dismissed. Representation J.N. Okongwu for the Appellants. Andrew Malgwi, Esq. for the Respondent. Reported by Optimum Publishers Limited ,Publishers of the Nigerian Monthly Law Reports (NMLR)(An affiliate of Babalakin & Co.)

V NEWS

T H I S D AY • TUESDAY, OCTOBER 26, 2021

Professor Oluyinka Omorogbe

Olawale Fapohunda

Chairman of NBA Lagos Branch, Ikechukwu Uwanna (left) receiving the Report of the NBA Constitution Review Committee of the Branch, Mr Tunde Busari, SAN during the Monthly General Meeting of the Branch

Fapohunda, Omorogbe, and 70 Others, Elevated to the Rank of SAN Olawale Fapohunda, who writes the Column, “Serious Matters” in ThisDay Lawyer, Professor Oluyinka Omorogbe, and 70 others, will be conferred with the rank of Senior Advocate of Nigeria on December 8th, 2021 at the Supreme Court. Olawale Fapohunda is the current Attorney-General of Ekiti State, serving his second term in that capacity. As Attorney-General, he has provided leadership to major reform initiatives in Ekiti State, including the Zero tolerance policy for all forms of violence against women and children, going a step further by open-

ing a Register of Sex Offenders in Ekiti State, the first of its kind in Nigeria. Fapohunda is well known within the Nigerian Bar Association (NBA), and is a Consultant to a number of International Development Partners. He is an Advisor to the Justice Sector Reform Programme of the Department for International Development DFID, UK, the British Council, and at various times, he advised the United States Development Agency (USAID) and the European Commission on their law and justice programmes in Nigeria. He is an Adviser to the China Africa Legal

A2J Reminds FG of its Promise to Reform the Police A justice sector reform civil society organisation, Access to Justice (A2J), has reminded the Federal Government of its promise to reform the Police, flowing from #EndSARS protests rocked the nation last year. In a statement signed by its Executive Director, Joseph Otteh and Project Coordinator, Deji Ajare, A2J said amongst others ‘It was a resounding call to end Police brutality, improve the welfare of officers of the force and respect the rule of law. ‘The protests organised by young Nigerians had five clearly articulated demands: 1. Immediate release of all arrested protesters. 2. Justice for all deceased victims of Police brutality, and appropriate compensation for their families. 3. Setting up an independent body to oversee the investigation and prosecution of all reported Police misconduct within a period of 10 days. 4. In line with the new Police Act, carry out psychological evaluation of all disbanded SARS operatives before they can deployed (this should be verified by an independent body). 5. Increase Police salary, so that they are adequately compensated for protecting lives and property of the citizens. ‘Despite the promises

made by the Government to meet the demands of the Protesters, and while the notorious SARS/FSARS was disbanded, to this day, not much has changed. ‘There has been no accountability for several cases of extra-judicial killings, torture, extortion and other forms of brutality.’ Access to Justice further said: ‘We remind the Government of its promise to reform the Police, and to take determined steps to do so now. The Police Force still functions with impunity and lawlessness, and there are continuing reports of widespread abuses perpetrated by officers of the Force on a daily basis. No institutional and political efforts have been undertaken, to transform the operational system of the Force in order to address the root problems. ‘We strongly urge the Government to ensure that the reports of the States Investigative Panels into Police violence following the #EndSARS protests in October 2020 are fully implemented, and that victims or families of victims – in cases of unlawful killings - are compensated. Government must also ensure the immediate prosecution, of all those indicted by the Panels as having acted unlawfully and abused their offices.

Exchange programme. Professor Omorogbe, Attorney-General of Edo State 2017-2020, is a Professor of Energy

Law at Nigerian Institute of Advanced Legal Studies (NIALS), Abuja and Lagos, and a Harvard Advanced Leadership Institute Fellow

2021. An internationally recognised Scholar, she became a Professor of Law at the University of Ibadan in 2002, where she was Dean of

the Faculty of Law 2005-2009. Her extensive teaching career, had also previously taken her to the Universities of Benin and Lagos.

NBA Lagos Branch to Promote Sports Law and Policy in Nigeria The Lagos Branch of the Nigerian Bar Association held its hybrid General Monthly Meeting recently at the premises of the Nigerian Law School, Victoria Island, Lagos. The Knowledge Sharing Session for the October meeting, was on Sports Law and Development in Nigeria. The Facilitator of the Session, Mrs. Beverley Agbakoba-Onyejianya, said Lawyers have several roles to play in the development of sports in Nigeria. Some of these roles she said, include the negotiation and preparation of contractual agreements involving sportsmen and women,

sports promoters, developers of sporting arena, intellectual property and image rights; policy drafting and dispute resolution. She noted that Nigeria is yet to establish a sports arbitration Tribunal, unlike what obtains in other jurisdictions. She called on the NBA Lagos Branch to get involved in sports development. Several standing and ad-hoc Committees of the NBA Lagos Branch, presented their monthly reports for deliberation and ratification by members. The Head of the Taskforce on the Illegal Practice of Law, Chief Lotanna Okoli, SAN, gave a

report on the activities of the Taskforce in ensuring that impostors and persons who carry on activities that only Lawyers are authorised to do, are made to face the full wrath of the law. The NBA Constitution Review Committee of the Branch, led by Mr. Tunde Busari, SAN, presented the Committee's report on farreaching proposals to further strengthen the institutional governance framework for the NBA. The members of the Branch also passed a resolution to promote the welfare of

members with various forms of disability, following the report of the Welfare Committee led by Mrs Jean-Chiazor Anishere SAN. It was resolved at the meeting that NBA Lagos Branch will henceforth, make provisions for sign language and interpreters to enable members with disabilities participate actively in Branch meetings. The Branch also undertook to make efforts to liaise with the Judiciary, to ensure that courts in Lagos are equipped with facilities to enable Lawyers living with disabilities access court rooms and registries with ease.

Asamber Makes Becomes the First Nigeria Police Officer to Become SAN Lough Simon Asamber, an Assistant Commissioner of Police has made history, as the first Police Officer to be elevated to the rank of Senior Advocate of Nigeria. ACP Simon Asamber Lough

is presently serving at the Force Legal Department of the Nigeria Police, Louis Edet House, Force Headquarters, Abuja. He was amongst the 72 lawyers elevated into the Inner Bar, as announced by the

Legal Practitioners Privileges Committee. The SAN rank is awarded as a mark of excellence to members of the legal profession who have distinguished themselves as Advocates and

Academics. They will be sworn in on December 8, 2021, by the Chief Justice of Nigeria, Tanko Muhammad, at the Supreme Court to mark the commencement of the 2022 legal year of the Apex Court.

Rev Fr Edwin Obiorah Becomes First Catholic Priest to Become SAN For the first time in history, a Catholic Priest, Reverend Father Edwin Obiorah was elevated into the Inner Bar as a Senior Advocate of Nigeria. In 1987, the Catholic Bishop of Awka, Most Rev. Dr. Albert K. Obiefuna (Deceased) sent Edwin Obiorah to study Law, in order to defend the poor and oppressed. This he did

at the University of Nigeria, Enugu Campus where he graduated in 1990 with an LL.B Degree in Law and was subsequently called to the Nigerian Bar in 1991 in the Second Class Upper Division. He went further in 1992 to obtain his LL.M at the University of Lagos, where he specialised in Land Law

and Securities. In 1994, Edwin Obiorah was admitted to continue his graduate studies in Law by an Ivy League University abroad, Cornell University, Ithaca, New York. Before beginning his studies at Cornell, Edwin Obiorah obtained a Diploma in International Law and Jurisprudence from the

famous University of Paris, Suborn, Paris. He obtained an LL.M. from Cornell University in 1995. In 1997, Cornell University conferred Fr Obiorah with the rare degree of Doctor of Juristic Science, the 19th person to receive such an honour since its establishment in the 18th century.

Club Awaits Supreme Court Judgement as IGP Issues Directive Peter Taiwo Inspector General of Police, Usman Alkali Baba, has issued a directive in a letter dated 27th September, 2021, addressed to its headquarters located at Zone 2, Onikan, Lagos State to “deal and furnish report” on the alleged invasion, forceful takeover and destruction of land and properties of

the Ikeja Saddle Club on September 24, 2021. The property situated at Olowora/Isheri Road, Olowora Ojodu Berger,Lagos State. This directive came in response to a petition dated September 24, 2021 and signed by its solicitors, Femi Okunnu and Co, the Ikeja Saddle Club explained that heavily armed looking Policemen “alongside armed

men in plain clothes, without warning, invaded our client’s land and property and took over the entire land and property”. It also accused the Ikumoworo Family, led by one Princess Josephine Momoh, of being behind the invasion of the property. It said Momoh “claimed to have secured a judgement of the High Court of Lagos State,

delivered by Honourable Justice Candide Johnson on May 3rd, 2016 in a Suit No.1D/1352/2001. They claimed that the judgement of the High Court, Lagos declared them owners of the said land, and that the said judgement has been affirmed by the Court of Appeal in a judgement delivered on November 14, 2019.

TUESDAY, OCTOBER 26, 2021 • T H I S D AY

IMAGES

he Book authored by Hon. Justice Jumoke Pedro of the Lagos State High Court titled 'Fundamental Principles of Law and Practice was publicly presented the Civic Centre, Victoria Island, Lagos, last Thursday. Here are some of the personalities who attended the event…. PHOTOS: KOLAWOLE ALLI

L-R: Bode Pedro, Uche Pedro, their Mother and Author of the Book, Justice Jumoke Pedro, Abiola Pedro and Abimbola Pedro

L-R: Author of the Book, Justice Jumoke Pedro, her Husband, former Deputy Governor of Lagos State, Otunba Femi Pedro, Lagos State Governor, Babajide Sanwo-Olu, former Governor of Ogun State, Otunba Gbenga Daniel and Òba of Iruland, HH Òba Omogbolahan Lawal

L-R: Justice Jumoke Pedro, Otunba Femi Pedro and Mr Governor, Babajide Sanwo-Olu

Lagos State Chief Judge, Justice Kazeem Alogba Prof. Taiwo Osipitan, SAN

Kemi Pinheiro, SAN

Layi Babatunde, SAN (left) and Olatunde Busari, SAN

Former Lagos State Attorney-General, Adeniji Kazeem, SAN (left) and Prof Bankole Sodipo

L-R: Justices Oyin Ogala, Harrison, Oluyemi and Admin Judge, Justice Ipaye

Chief Felix Fagbohungbe, SAN (left) and Olumide Sofowora, SAN

L-R: Justices Adesuwa Oke-Lawal, Bunmi Fadipe and Sheri Solebo

L-R: Book Reviewers, Kemi Pinheiro, SAN and Prof Taiwo Osipitan, SAN; Otunba Gbenga Daniel, Mr Governor, Babajide Sanwo-Olu, Justice Jumoke Pedro, Otunba Femi Pedro, Chief Judge of Lagos State, Justice Kazeem Alogba and HH Òba Omogbolahan Lawal

L-R: Adewale Fadipe, Olusegun Fabunmi, SAN and Dr Wale Olawoyin, SAN

VII

T H I S D AY • TUESDAY, OCTOBER 26, 2021

CASE REVIEW

TALKING CONSTITUTIONAL DEMOCRACY DR. MIKE OZEKHOME, SAN

0809 889 8888 SMS ONLY

Any Floodgate of Senior Advocates of Nigeria? I Don’t Think So (Part 3) Introduction In our last two outings, we have seen that the privileges attached to the rank of SAN are more statutory than conventional. Today, we shall conclude our discourse. The Known Criteria for the Award of the Rank of SAN Consequent upon its prestigious nature, the eligibility criteria for SAN focuses on competence in advocacy, integrity and good standing in the legal profession. Paragraph 1 of the SAN Guidelines, 2018, provides for the rank of SAN to be conferred only on legal practitioners that are in full time legal practice, have distinguished themselves as Advocates, and have otherwise made significant contribution to the development and growth of the legal profession. Such a candidate must be no less than 10 years post-call; and must provide evidence of judgements which he/she played a significant role in as an Advocate. This shall consist of twenty final judgements in the High Court, five in the Court of Appeal and four in the Supreme Court of Nigeria. The candidate must also be of good character, and have no pending disciplinary complaint against him/her. As regards competence, paragraph 19(1), (3), (6) and (7) of the SAN Guidelines, 2018, sets out what a candidate must possess: (a) high professional and personal integrity; (b) diversity; (c) sound knowledge of the law and excellent skill as an advocate; (d) tangible contribution to development of the law through writings and/or lectures at national or international conferences; (e) leadership qualities and loyalty to the legal profession, including payment of practising fees and undertaking pro bono cases. Members of the Academia are also conferred with the rank based on their scholarship, research and intellectual discourse. The Desirability of Extending the Silk to Corporate Lawyers Let me also therefore, use this a dissertation to call for an amendment to the LPA and the LPPC Rules, to include elevating Corporate Lawyers as SANs. For me, it is inexcusable and inequitable that we award the Silk to practicing Lawyers and Scholars; yet, deny our Corporate Lawyers who are actively engaged in wholly commercial practice, the same SAN rank. These are our colleagues in specialised and critical areas of the law, some of the areas quite recondite and novel. They generate the policies, legal frameworks, and financial platforms, on which the Advocates and Scholars themselves rely. I do not mean to sound overtly radical, or patronising here. Never. I speak straight from my heart. A calm consideration of this suggestion, will show its great advantages. After all, the Section on Business Law of the NBA is invariably usually headed by these accomplished Boardroom Lawyers. So, why deny them of the Silk, simply because they are not courtroom Advocates or classroom Professors? I humbly beg to disagree with them being sidelined. They could at least be made SANs (honoris causa), as done in England, for their great impact in the corporate world that affects all legal practitioners. Alternatively, we may coin a name for them – Senior Advocates of Commercial Practice (SACP). The SAN Award in Other Countries QCs in England and Wales as Precursors In 1994, Solicitors of England and Wales became entitled to gain rights of audience in the higher courts. Some 275 were so entitled in 1995. In January, 2020, 114 Barristers and Solicitors were appointed as Queens’ Counsel (QCs). In addition, 10 honorary QCs (Honoris Causa) were appointed. QCs and Honorary QCs are usually appointed by the Queen, on the advice of the Lord Chancellor. Suspension of the QC Rank in 2003 The appointment of new QCs was suspended in England in 2003, and it was widely expected that the system would be abolished. However, a vigorous campaign was mounted in defence of the system. Supporters included those who considered it as an independent indication

of excellence of value, to those (especially foreign commercial litigants) who did not have much else to rely on; and those who contended that it was a sure means by which the most outstanding Barristers from ethnic minorities could advance and overcome prejudices, as well as better represent members of an increasingly diverse society. Reforming the QC Rank The Government’s focus thereafter, switched from abolition to reform; and, in particular, reform of the much-criticised "secret soundings" of Judges and other establishment legal figures, upon which the old system was based. This was held to be inappropriate and unfair, given the size of the modern profession. They also feared a possible source of improper Government patronage (since the final recommendations were made by the Lord Chancellor, who is also a member of the Government). It was also found to be discriminatory against part-time workers (especially women), and ethnic minorities. In November, 2004, after much public debate in favour of and against retaining the title, the Government announced that appointments of QCs in England would be resumed, but that future appointees would be chosen, not by the Government, but by a nine-member panel, chaired by a lay person. This would include two Barristers, two Solicitors, one retired Judge, and three non-Lawyers. Previously, the appointment had remained a royal one made solely on the advice of the Lord Chancellor. However, they no longer comment on individual applications. The Lord Chancellor supervises the process and reviews the Panel’s recommendations in general terms, to be satisfied that the process as operated is fair and efficient. How the Reforms Liberalised the QC Award in England When application forms under the new system were released in July, 2005, appointment of a whopping 175 new QCs was announced on 20th July, 2006. Of the 175 appointed, 33 were women; 10 were ethnic minorities; and four were Solicitors. Six people were also appointed QC Honoris Causa (this is given to recognise those in the profession who have made a major contribution to, and impact on, the law of England and Wales, outside the courtroom). Under the new dispensation, a Barrister that desires to be conferred the title of QC must have a minimum of twelve years’ experience at the Bar. The title is mostly restricted to practicing Barristers, except for a few exceptional cases. A QC must also have a history of honesty, discretion and diligent dealings with both professional colleagues, their clients and also the courts. As at 2017, there were about 17,000 Barristers in England and Wales, of which approximately 10% were QCs. Can we say this of Nigeria, or anything near it? Ireland and Senior Counsel

“…… 197,000…..Legal Practitioners….The glaring statistics of 0.31% SANs out of the overwhelming pool of qualified legal practitioners, is a dismal and saddening outing. Compare this with that of 10% of 17,000 Barristers in England made QCs…..”

The Irish Free State came into existence in December, 1922, as a dominion within the British Commonwealth of Nations. Shortly after the Courts of Justice Act, 1924, came into effect, Chief Justice Hugh Kennedy, in conjunction with the Bar Council of Ireland, revived the issue of patents of precedence, which had been used in the 18th and 19th Century as an alternative to a patent as KC. Under the Free State patent wording, the recipient would be styled "Senior Counsel" (SC). According to the view held at the time, the "privilege of patent" was part of the royal prerogative within the Free State. Of about 2,300 Barristers registered with the Bar Council of Ireland, about 325 (well above 10%) are SCs. On 1st September, 2020, the cabinet approved the first batch of 37 recommendations of the LSRA Advisory Committee. These were appointed Senior Counsel the following day, including the first 17 Solicitors. The wording “approved the first batch of 37 recommendations of the LSRA Advisory Committee” signifies that, every recipient recommended by the LSRAAdvisory Committee was approved. QCs in Canada In Canada, the honorary title of QC, is used to recognise Canadian Lawyers for exceptional merit and contribution to the legal profession. QC appointments are formally made by the Provincial Lieutenant-Governor from members of the Bar of the relevant provinces, on the recommendation of the Provincial Attorney- General. The practice of making QC appointments is not consistent across Canada, and the eligibility criteria vary. Reforms have attempted to depoliticise the award, making it a recognition of merit and community service. Committees composed of representatives of the Bench and the Bar screen candidates, and advice the relevant Attorney-General on appointments. Nationally, the Canadian Government discontinued Federal QC appointments in 1993, but resumed the practice provincially in 2013. In 2015 alone, 102 Lawyers were given their Silks, joining the ranks of the QC — a century-old tradition that honours outstanding legal careers, and is still carried out by many provinces, as well as the Federal Government. Nigeria’s Gbenga Shoyole, QC (my classmate at Ife) and Dr Foluke Oyedeji-Laosebikan, QC, are some outstanding Nigerian Lawyers conferred with the rank of QC (SAN) in faraway Canada. Do We Really have a Glut of SANS in Nigeria? The rank of SAN is a pedigree intended to engender expectations of excellence, not only in advocacy, but also advisory legal services. Its rarity therefore, makes it a most-sought-after rank in the legal profession. Since its inception in 1975 (aside 1976, 1977 and 1994 when there were no conferments), the LPPC has conferred only 616 candidates with the prestigious rank of SAN. Of course, this rarity could be seen as an attempt to protect and preserve the uniqueness and prestige of the rank of SAN. However, on the other side of the coin, it can be viewed as a deliberate circumscription and denial of qualified candidates of the prestigious rank. This denial of deserving ones, is what my thesis has been all about. The clear and obvious answer to the question of whether we have a glut of SANs in Nigeria is NO. The number of legal practitioners that have so far been conferred the rank of SAN since the inception of the LPPC, is just 616. This is certainly minuscule compared with Nigeria’s population of over 212.6 million. Of course, this automatically

means that the number of practicing SANs are even not enough, because the ratio of practicing legal practitioners and practicing SANs is quite disproportionate. Let us do some arithmetic and data analysis here. Conclusion The Number of Qualified Applicants Elevated are too Few Although the number of Advocates called to the Inner Bar in one year significantly increased to 72 in November, 2020, this figure is still quite insignificant when compared with the hundreds of qualified legal practitioners that apply for the honour every year; or when compared to those appointed annually as QCs in England and Wales; or/and other parts of the world. It seems to me to amount to injustice when candidates who apply are deemed qualified, after passing through the needle’s eye by going through all the various rigorous filtration processes; yet denied the SAN rank for several subterranean reasons, other than merit. People from humble backgrounds like me who do not have these god-fathers, long societal reach and connections, would forever be denied being made SAN. God forbid! I hereby, humbly call for wholesome DEMOCRATISATION of the SAN space in Nigeria. The Tale of 197,000 Lawyers and 616 SANS! What is beyond dispute, is the fact that over 197,000 Law School graduates have passed through the Nigerian Law School to become legal practitioners. But, only 616 have made it to become SANs. This means that Nigeria has only conferred a 0.31% of legal practitioners, with the rank of SAN. The glaring statistics of 0.31% SANs out of the overwhelming pool of qualified legal practitioners, is a dismal and saddening outing. Compare this with that of 10% of 17,000 Barristers in England made QCs, and you would weep. How Many SANS Really Practice in Courts? Of the 616 legal practitioners so far conferred with the prestigious rank of SAN since 1975, a great number of them have since peacefully departed this world to go and join their Creator. Many are teachers in our universities, and who never really advocate in courts of law. Many others are no longer engaged in active legal practice, for age or health-related reasons. To date, there are still some States in Nigeria that do not have a single RESIDENT SAN, let alone LGAs. Ekiti State, as educated as its indigenes are, produced the first RESIDENT SAN only in 2020, in the person of Chief Obafemi Adewale, SAN, a former General Secretary of the NBA. This is not good enough. Let the LPPC open up new vistas and broaden the frontiers of the award of SAN; and accord the Silk to all those who are deserving and have been adjudged eminently qualified with distinction by the LPPC itself, without any known pending petitions and cases bordering on professional misconduct or infamous conduct. The heavens will not fall. There is no pond of SANs in Nigeria, let alone a floodgate or torrent of SANs. The sky is large enough for all the birds to fly. LET US REFORM THE RANK NOW, BEFORE THE RANK RANKLES US TO OUR ANKLES. I beg to respectfully submit. Serious and Trivial “Pastor wey promise say Nigeria go better, don run go Canada last week. Trust no man”. THOUGHT FOR THE WEEK “Let us realise that: the privilege to work is a gift, the power to work is a blessing, the love of work is success!” (David O. McKay)

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The Pandora Papers Exposé Like a hurricane, the feathers of the ‘rich’ were rustled by the International Consortium of Investigative Journalists (ICIJ), in what some say is the most audacious leak of some of the financial activities of a number of ‘rich’ men and women globally. The ICIJ revealed the offshore havens and concealed/clandestine/hush-hush riches of world leaders, Government officials and billionaires, exposing and unmasking the covert owners of offshore companies, secret bank accounts, private jets, yachts, mansions and artworks. As usual, “Naija no dey carry last” - Nigerians were not left out, having the highest number of Politically Exposed Persons amongst the African countries listed. Some of the issues in this Discourse border on tax evasion, money laundering and more. Norrison Quakers, SAN and Jide Ojo delve into the confounding flight of Nigeria’s wealth to the various tax havens, and the implications for the nation’s fight against corruption and poor state of the economy, while Ikechukwu Amaechi roundly defends former Governor of Anambra State, Peter Obi, whose name featured prominently on the list

Legal Exposition On the Monumental Pandora Papers’ Leak Norrison Quakers, SAN Introduction It is ironic that whilst many businesses, likewise different tiers of Government in Nigeria today are desperately in pursuit of loans to stay afloat, with resultant defaults leading to winding up of corporate organisations, with the backlash on lenders thereby making Asset Management Corporation of Nigeria (AMCON) and the Central Bank of Nigeria to be on their toes, the recent mammoth Pandora Papers’ leak, confirms that Nigerians have been suffering in a land flowing with milk, honey and money! The need for a monumental intervention of AMCON led to the empowerment of the Agency with far reaching powers, as gleaned from the amendment to AMCON Act in 2019. Further, the

volume of cases before Nigerian courts due to Non- Performing Loans, with the attendant delay in the adjudication of matters, necessitated the introduction of fast-track procedure on this subject by some superior courts of record, to address this national migraine. In Nigeria, the huge chunk of Non-Performing Loans of different tiers of government, governmental agencies, individuals and corporate bodies keeps growing, hence the revelation from the Pandora Papers’ saga as it concerns Nigerians, comes as a rude shock. Admittedly, these Non-.Performing Loans are a reflection of the flux state of our economy, leading to the out-flux of the dejected- ‘leaders of tomorrow’ in search for greener pastures. Not forgetting that the financial crisis faced by many businesses in Nigeria in recent times, has left many living in depression currently. It becomes more pathetic when loans are obtained by individuals or money is obtained through other illicit means, and same is invested in tax havens overseas rather than for these individuals to use same to develop the economy of Nigeria;

“…..the recent mammoth Pandora Papers’ leak, confirms that Nigerians have been suffering in a land flowing with milk, honey and money!”

which is often the case. Background The outcome of the global International Consortium of Investigative Journalists (ICIJ)-led Pandora Papers’ project, has been a theme of global discourse recently. The analysis of the mammoth Pandora Papers’ leak leaves much to be desired, as it concerns the integrity of many distinguished personalities in our polity, both secular and otherwise, who ostensibly in desperate moves to conceal their financial dealings, funnel fortunes into property and other assets that are sheltered from the prying eyes of tax collectors through use of shell companies and trusts in offshore havens. Analysis of Legal Issues The law serves as a tool for stabilising and revitalising the economy. A number of legal issues arise from the recent Pandora papers’ revelation as it concerns identified Nigerians - both public officials and otherwise. This is hereunder discussed in extensio: Tax Avoidance Perspective The failure or any resistance to payment of tax is considered a punishable offence, as such, Section 24(f) of the 1999 Constitution provides that: "It shall be the duty of every citizen to declare his income honestly to appropriate and lawful agencies, and pay his tax promptly". In FBIR v IDS Limited [2009] 8 NWLR (Pt. 11440), 615 at 638, the Court of Appeal

pontificated:"Taxpayers are not to be taxed unless the language of the statute clearly imposes the obligation, such language must not be strained in order to tax a transaction which, had the legislature thought of it, would have been covered by appropriate words". Hence, there are statutes prescribing punishments in Nigeria for non-filing of tax return, late filing of tax return, non-payment of tax, late payment of tax, fraudulent issuance or forgery of Tax Clearance Certificates (TCCs) amongst others. See FBIR v IDS Ltd[2009] 8 NWLR (Pt. 1144), 615 at 637; also see Tax Code, 26 United States Code, Section 7201 penalising attempt to evade or defeat tax. The Federal Government of Nigeria recently enacted the Finance Act 2019, which introduced several amendments to extant tax statutes. Whilst Government makes mandatory financial charge in form of tax, on the flip side, tax planning which is permissible under the law entails forecasting tax liabilities, formulating ways and identifying opportunities to reduce tax liabilities within the law. Of relevance are the two distinct concepts - ‘Tax Avoidance’ and ‘Tax Evasion’. Tax Evasion, being a deliberate act of a taxpayer to avoid payment of tax or pay less than statutorily prescribed, attracts punitive consequences with penalties prescribed under the law, as opposed to Tax Avoidance being a mode of tax planning to reduce tax burden/tax liabilities such as utilising Tax Incentives or investing in preferential sectors of the economy, which is permissible once done within the confines of the law. Of note, self-help may be a form of Tax

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The Pandora Papers Exposé Evasion which is illegal with attendant criminal, financial and reputation consequences, hence the Pandora Papers’ saga, as it concerns Nigerians, must be dissected from this perspective in determining culpability of identified individuals, particularly the Government officials who are under an additional obligation to practice transparency and accountability in their dealings. Contravention of the extant laws definitely attracts the full weight of the laws; this is extrapolated against the failure of the identified individuals to take advantage of the Voluntary Offshore Assets’ Regularisation Scheme (VOARS) and Voluntary Assets and Income Declaration Scheme (VAIDS) to regularise their tax status. Of note, the VOARS came into existence under Executive Order 008 which was signed by President Muhammadu Buhari in 2018 to run for twelve months; hence, it is important at this time to allow the law take its full course on individuals among the revealed pool exposed in the Pandora Papers’ leak, that failed to disclose assets that are taxable under the extant laws. Asset Declaration Filings With the Code of Conduct Bureau Perspective By paragraph 3 of the Fifth Schedule of the 1999 Constitution of Nigeria and Section 7 of the Code of Conduct Bureau and Tribunal Act, certain public office holders are barred from maintaining foreign accounts. Whilst Section 11 of the Fifth Schedule of the 1999 Constitution states that, subject to the provisions of the Constitution, every public officer shall within three months after the coming into force of the Code of Conduct or immediately after taking office and thereafter, submit to the Code of Conduct Bureau a written declaration of all his properties, assets, and liabilities and those of his unmarried children under the age of eighteen years. Regrettably, over time, these laudable provisions are usually observed in breach simpliciter with a negligible enforcement mechanism in place despite that, by the extant law, any statement in such declaration that is found to be false by any authority or person authorised in that behalf to verify it, shall be deemed to be a breach of the Code thereby attracting penal sanctions. Money Laundering Perspective The Economic and Financial Crimes Commission (EFCC) is a notable governmental agency tackling matters bordering on concealment of the origins of illegally obtained money; whilst the ICPC equally plays a role. The principal law governing money laundering in Nigeria, is the Money Laundering Prohibition Act 2011. See OYEBODE ALADE ATOYEBI v FEDERAL REPUBLIC OF NIGERIA (2017) LPELR-43831(SC). The Money Laundering Act (Prohibition) Act and the NFIU Act mandates Financial Institutions or Designated Non-Financial Institutions to report within prescribed periods certain lodgements, in checkmating money laundering. Remarkably, intent to commit a crime known as “mens rea” in law must be present, before any person can be convicted of an offence. Hence, this is a major determinant factor in examining the culpability of identified Nigerians in the Pandora Papers’ saga. Conclusion With the recent Pandora Papers’ saga, corruption has once again occupied the front burner in our national discourse. Whilst Government seemingly has made some efforts to crack down on some tax cheats and corrupt individuals, the aspect of penalising non-compliance with the Code of Conduct has never been seriously handled; hence, this requires urgent attention. Also, Government should explore ways of using the mass media to create more awareness on extant tax framework. Prosecution in tax criminal offences in Nigeria, is quite few; this must change. To demonstrate its seriousness in combating corruption, the Pandora Papers’ leak serves as a litmus test for the Government as the 2023 Nigerian General Elections approach. This will be the highpoint in examining the sincerity of the present administration in checkmating corrupt practices as it concerns in particular VOARS and tax evasion. Posterity will definitely be the judge! Of note, corruption has created an institutional breakdown in the polity, leading to loss of confidence in the system and threatening to send our fatherland to her early grave like the Covid-19 pandemic. Cur-

rently, the Federal Inland Revenue Service (FIRS) is clamouring for the creation of a Special Court to promote its tax crusade; however, it must be emphasised that the absence of the spirit of civic responsibility amongst the populace, is an issue requiring urgent attention. Norrison I. Quakers, SAN, FCArb, Constitutional and Human Rights Lawyer, Lagos

Pandora Papers Report on Nigerians: Let the Real Anti-Corruption Battle Begin Now Jide Ojo Introduction On Sunday, October 3, 2021, the International Consortium of Investigative Journalists published what it titled ‘Pandora Papers’ investigation. It is based on one of the biggest-ever leaks of financial documents, which exposed a hidden world of shielded wealth belonging to hundreds of politicians and billionaires. The Pandora Papers project involves 617 Journalists and 151 media outlets, collaborating to investigate a vast amount of previously hidden offshore records of the powerful and super rich in the world. The Consortium of Journalists obtained the trove of 11.9 million confidential files and led the partners, including Nigeria’s PREMIUM TIMES, that spent two years sifting through them, tracking down sources and digging into court files and other public records from dozens of countries. The leaked records came from 14 offshore services firms from around the world, that set up shell companies and other offshore nooks for clients often seeking to keep their financial activities in the shadows. No fewer than 10 Nigerian politicians were indicted in the Pandora Papers, while at least eight African countries featured in the document. According to Bloomberg online report of October 4, 2021, “Moving money through offshore accounts, in mostly low-tax jurisdictions, is legal in most countries, and many of the people named in the data release aren’t accused of criminal

“It is only hoped that this third time around, the Federal Government will not only bark but bite, by bringing all the indicted persons in the Pandora Papers to justice!”

wrongdoing. But, the journalist group said the 2.94 terabytes of financial and legal data -- which makes this leak larger than the 2016 Panama Papers release -- shows the “offshore money machine operates in every corner of the planet, including the world’s largest democracies”, and involves some of the world’s most well-known banks and legal firms”. In total, the ICIJ found links between almost 1,000 companies in offshore havens and 336 high-level politicians and public officials, including more than a dozen serving Heads of State and Government, country leaders, cabinet Ministers, Ambassadors, and others. African Connection According to an interactive map of the leaked documents, five Côte d’Ivoire politicians were helped by foreign agents to stash money suspected to be looted, away from public view. Ghana has three politicians listed in the documents, which has been described as “An offshore data tsunami.” Chad, Kenya and Congo Brazzaville have two politicians each listed in the infamous documents that had reportedly sent shivers down the spines of public figures globally; while Gabon has three politicians listed. Angola has nine politicians listed in the document, while Zimbabwe and South Africa have two each. Mozambique has one. Indicted Nigerians Premium Times reported that the 10 Nigerians named in the Pandora Papers scandal were alleged to have flouted “extant laws and legislations as they hide these assets,”. The newspaper said contents of the document revealed how some of the most influential Nigerians – a former Chief Justice of Nigeria, current and former State Governors, past and present lawmakers, businesspeople, a popular pastor, and many others – set up shell companies, and sometimes warehouse huge financial assets, in notorious secrecy jurisdictions. Previous Scandals It is noteworthy that, this is not the first time that investigative journalism will unearth humongous global financial scandals. Recall that two previous leaks also coordinated by International Consortium of Investigative Journalists, namely the Paradise Papers in 2017 and Panama Papers in 2016, just like the current Pandora Papers scandal, exposes systems and jurisdictions that aided and abetted crime, corruption, and wrongdoing by politicians, moneybags, influential individuals, and their enablers globally. The Civil Society Legislative Advocacy Centre (CISLAC), the National Chapter of Transparency International (TI) in Nigeria, and Premium Times Centre for Investigative Journalism (PTCIJ) on October 11, 2021 issued a press release in which it said, among other things, that “It will be recalled that the Panama Papers and the Paradise papers led to significant protests across the globe, and the fall of governments,

dismissal of officials, criminal investigations, and asset confiscations. They also precipitated hundreds of tax probes and criminal investigations, prosecutions, and reforms in the United States, Canada, Europe, and parts of Africa”. The press statement went further to observe that: “Sadly, both have had minimal impact in Nigeria, as the Federal Government led by President Buhari failed on the two occasions, to seize the opportunities to take decisive action against corruption and bring all those indicted in the two Papers to account. The Nigerian Government only managed to constitute a Panama Papers Committee, which never triggered any action or any impact. It is to be assumed that, given the large number of Politically Exposed Persons (PEPs) present in the Panama and other leaks, committees consisting of PEPs are unlikely to indict their own”. Expectedly, many of those indicted in the Pandora Papers report have been offering robust defences for their actions. None has pleaded guilty to the crime, in the court of public opinion. FIRS’ Promises to Offenders In a statement sent to PREMIUM TIMES, a spokesperson for the Federal Inland Revenue Services (FIRS), Johannes Wojuola, said the Service will go after people reported in the leaks and suspected to have broken the law. Nigerians reported so far include ex-Governor of Anambra State, Peter Obi; Governor of Kebbi State, Abubakar Bagudu; former Minister and serving Senator, Stella Oduah; NPA acting Chief Executive Officer, Mohammed Bello-Koko; and Governor Gboyega Oyetola of Osun State, as well as their associates. Media and Civil Society Call to Action The Coalition of CISLAC, Transparency International in Nigeria, and the Premium Times Centre for Investigative Journalism urgently called on President Buhari, the Honourable Minister of Justice and Attorney-General of the Federation, and all anticorruption agencies to immediately commence actions to investigate all the people and companies indicted in the stories and revelations of dirty financial deals so far published by the Premium Times Centre for Investigative Journalism. Furthermore, they called on civil society organisations to urgently come together to track and document the reports, and commence efforts to ensure the exposures does not go the way of the 2017 and 2016 Paradise and Panama Papers. The Coalition equally urged the Federal Government to consider policy reforms and institutional strengthening, necessary to curb the abuse of financial systems and ease the prosecution of violators. Therefore, they encourage the Federal Government to consider the following: · Strengthen the Code of Conduct Bureau by digitising the assets declaration processes, documentation and verification, and the prosecution of violators. As of now, the asset declaration administration in Nigeria is dysfunctional, and a major enabler for corruption. The Federal Government must equally work with the National Assembly, to remove all the obstacles to public access to asset declarations of all eligible public officers. · The Company and Allied Matters Act (CAMA) cont'd on page X

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The Pandora Papers Exposé cont'd from page IX

2020 provides for the setting up of a Beneficial Ownership (BO) register. The Coalition called on the Government to fully implement this, so that beneficial owners of companies in Nigeria can be identified. This will prevent the diversion of public funds, through procurement corruption in the first place. The Nigerian Government must "live the talk" by ensuring the beneficial ownership data is publicly accessible, and must show leadership by acting on them. So far, the lack of action on financial data leaks proves the opposite. · On its part, the Central Bank needs to ensure that financial institutions fully carry out Know Your Customer (KYC), Customer Due Diligence (CDD), as well as Enhanced Due Diligence (EDD) as required by the Financial Action Task Force (FATF), InterGovernmental Action Against Money Laundering in West Africa (GIABA), and other international financial compliance guidelines. Effective compliance with these guidelines and measures, will curb the current abuse and indiscretion among politically exposed persons and their collaborators. · The CBN, Anti-graft agencies, the Ministry of Justice, and the Foreign Affairs work in synergy and engage their international counterparts to ensure that global enablers/middlemen like Lawyers, Notaries, Accountants who help facilitate money laundering and tax evasion are blacklisted, deregistered, or held to account under the several national laws, policies and international frameworks to which Nigeria is a signatory. There is enough open data available exposing PEPs, military leaders, senior public servants and others who own lavish properties all around the world. No significant international cooperation with many key jurisdictions, takes place at the moment. · The Federal Government should reopen the Voluntary Asset and Income Disclosure Scheme (VAIDS) and the Voluntary Offshore Assets Regularisation Scheme (VOARS), to enable Nigerians with undisclosed (offshore) assets declare them, and pay taxes where they are liable. · The National Assembly should ensure that it continues to play its constitutionally mandated oversight functions on the relevant Government agencies, to ensure that they carry out their mandate. · With the electioneering period approaching, the Independent National Electoral Commission, CBN, the NFIU, and other relevant agencies must ensure that political parties conform to political party financing regulations, and prevent the use of "dirty money" in Nigeria's politics. The Coalition noted that, the report shows the significance of a strong partnership between media and the non-profit for an accountable and robust democracy. The Nigerian Government must, therefore, immediately retrace its steps and stop further actions to emasculate free speech, and gag the vibrant civil society. And, instead, begin to encourage and promote regular dialogue with civil society leaders and the media, as partners in progress, to find lasting solutions to the multiple political, socio-economic, environmental, and security challenges confronting the nation. Conclusion Will FIRS, CBN, CCB, NFIU and other anti-corruption agencies live up to expectations of the well-articulated recommendations of the Coalition of media and CSO? Time will tell. It is only hoped that this third time around, the Federal Government will not only bark but bite, by bringing all the indicted persons in the Pandora Papers to justice! Jide Ojo, Public Affairs and Policy Analyst, Abuja

Pandora Papers: Peter Obi Committed No Crime Ikechukwu Amaechi For some Nigerian politicians, the recently leaked Pandora Papers which chronicled offshore services firms that set up shell companies for clients – many of them influential politicians and businesspersons allegedly seeking to conceal their financial dealings

Former Governor of Anambra State, Peter Obi – was an aha moment. The eureka effect on them was most palpable. Why? Because the files had the name of Mr. Peter Obi.

speeches and appearances, an investigation by Premium Times has now shown that Mr. Obi is not entirely transparent in his affairs as he likes Nigerians to believe”.

About Peter Obi Obi, former Governor of Anambra State and Vice Presidential candidate of the Peoples Democratic Party (PDP) in 2019, is an enigma fellow politicians fail to decode. In the last eight years since his tenure ended, everything has been thrown at him. He is probably one of the most investigated Nigerian politicians. Each time, the investigators drew blanks. Apart from the fact that he gave Anambrarians good governance, a scarce commodity in Nigeria’s public space, the major reason why PDP power brokers went for him in 2019 was because he has no baggage. The anti-graft agencies, including the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), found him squeaky clean, completely free from moral taint. What’s more, Obi’s insistence that nothing will change for the better in the country unless the leadership recruitment process is overhauled to stop incompetent people ascending the ladder of power, has not gone down well with most of his colleagues who seem to be in a perpetual conspiracy to cut him down to size. The leaked Pandora Papers seem to have given them a leeway, with their joyful exhalation most poignantly captured in the Premium Times report, “Pandora Papers: Inside Peter Obi’s Secret Businesses – and how he broke the law”. “Peter Obi, the ex-Governor of Anambra State in Southeastern Nigeria, is widely regarded in Nigeria as an advocate of good governance, openness, and transparency”. Premium Times wrote in the very first paragraph of the story, as if to say, ‘finally….’. “In addition to speeches on his governance records and statistics-laden prescriptions for Nigeria’s development, he likes to talk about how hugely successful he became in business before diving into politics.” The online newspaper listed what it irreverently said Obi claimed as his achievements in the business world prior to his Governorship – including being the youngest Board chairperson ever appointed by Fidelity Bank. Then, it fatally dropped the ball of conscientious journalism when it wrote: “But beyond the facade of priggish

Being Igbo It is difficult for any columnist to weigh in on this matter, on the side of Obi. It is even more so, if you are Igbo. The bogey of corruption has been used since the time of former President Olusegun Obasanjo, to destroy political opponents. All you need to end someone’s political career, is to get anti-graft institutions to label the person corrupt. And Nigerians who, rightly, see corruption as their bane will complete the job. So, any attempt to weigh in without supporting the official position, makes you a corruption sympathiser. Being Igbo makes it a double jeopardy, because the immediate conclusion is that you have jumped to the defence of your kinsman. But, let us understand the issues we are dealing with here. The “Pandora Papers” is an exposé of the alleged financial secrets and offshore dealings of dozens of Heads of State, public officials and politicians from 91 countries and territories, and Obi was alleged to have been mentioned in the Report. No other Nigerian has been mentioned. Is it possible that no one else other than Obi was mentioned in the Report for which, according to the U.S. news octopus, CNN, more than 600 Journalists from 150 outlets spent two years investigating nearly 12 million confidential files? Or is it a case of having got Obi, nothing else mattered? Some of the world leaders mentioned in the Report, including Russian President, Vladimir Putin, former British Prime Minister, Tony Blair, and King Abdullah II bin Al-Hussein of Jordan, have all denied any wrongdoing. And what is the whole brouhaha all about, that will warrant impugning the character of someone and pronouncing him guilty beforehand? Granted, the Pandora Papers reveal how unusual offshore finances and secretive wealth have infiltrated global politics, and some of the people named in the papers are major political leaders in developing or impoverished countries, but having businesses tucked away in tax havens, away from public glare, is not an act of corruption in itself. In the case of Obi, what is important is the source of the wealth that is alleged to have been invested offshore.

“The fact that Obi has offshore companies, does not detract from his gospel of transparency and good governance….And, until there is evidence that those businesses are proceeds of filthy lucre, politicians who think that their ascendancy depends on the destruction of his hard-won reputation, should let Peter Obi be”

Peter Obi: A Billionaire before he became Governor Peter Obi was a billionaire before he became Governor, with thriving businesses both at home and abroad. In the three years he battled in court to retrieve his stolen mandate, he singlehanded footed the bill. That is why he did not come into office, with the baggage of a godfather. He was his own godfather. A Huge Success as a Governor And he was a huge success as a Governor. As at the day he left office on March 17, 2014, as he re-emphasised in a recent interview with TheNiche, Anambra State Government under his watch was not owing salaries and

gratuities of any civil servant that was entitled to be paid, both at the State and local government levels. He was neither owing any contractor for any contract executed and documented, nor any supplier. Anambra State government was not in debt of any kind, because he did not borrow a dime to run the affairs of the State. Instead, balking the tradition in public service in Nigeria, he left behind money to pay three months’ salaries, run schools for a year and start more projects. Not only that, he left in savings, N75 billion ($156 million, and the rest in Naira) with documents to prove same. Unlike some politicians who may well have orchestrated these negative reports because of their 2023 ambitions, and who see in him the most potent obstacle on their way, Obi never converted any Anambra State property – land or building – to personal use. He did not set up any private company, to collect tax for Anambra State at a premium commission. He did not mortgage the future of the State for any personal aggrandisement. That record is unprecedented and should matter. To achieve this incredible feat, he took the highly unusual step of reordering his priorities and cutting down the cost of governance. Rather than share the money to political jobbers and hangers-on at the expense of the masses, he plugged all loopholes and there were no leakages. Of course, the elite who have perfected the inglorious art of making a kill on patronage and rent, didn’t like him for that. But, rather than hallucinating, those who are beside themselves with joy ululating that with the Pandora Papers exposé, Peter Obi has been nailed to the cross of public probity should tick the boxes of some pertinent questions: Was any of his businesses financed with illicit funds? Is there any of his businesses that can be traced to funds filched from Anambra State coffers? Did Anambra lose money under his watch that has been traced to him and his cronies? In the interview with TheNiche which I referenced earlier, Obi challenged the gloaters thus: “If you see any account or business belonging to Peter Obi, please, investigate the source of the wealth.” In this fintech era, that shouldn’t be too much of a challenge to undertake. It takes a man who is sure of himself and his financial dealings in and out of office to proclaim, as Obi did, that, “I can explain every wealth that I have.” That should be the issue, and not whether he has businesses offshore. Conclusion What Peter Obi has proved in and out of office, is the need for Nigerian leaders to have a “second address.” He was a successful businessman, before he went into public office. After public office, he went back to his personal businesses. If the only “crime” which Nigerian leaders are committing is to set up offshore businesses with their hard-earned money, not money stolen from public purse, Nigeria will be a lot better than the mess it is today. The fact that Obi has offshore companies, does not detract from his gospel of transparency and good governance as Premium Times insinuated. And, until there is evidence that those businesses are proceeds of filthy lucre, politicians who think that their ascendancy depends on the destruction of his hard-won reputation, should let Peter Obi be. Ikechukwu Amaechi, Awka, Anambra State

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T H I S D AY ˾ TUESDAY, OCTOBER 26, 2021

BUSINESSWORLD R A T E S MONEY MARKET

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

08056356325

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2 5 , 2 0 2 1

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OBB

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N413.03/ 1 US DOLLAR*

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10.75%

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Oil Companies’ Gas Flare Payments Jump from $15.4m to $307.4m in One Year

Emmanuel Addeh in Abuja Gas flaring payments made by oil companies increased from a meagre $15.5 million to $307.4 million between 2018 and 2019, the most recent audit report from the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed. While gas flaring, the controlled combustion of associated gas, is

almost impossible in the extraction of molecules, companies, which operate in the hydrocarbons space are usually penalised for over-stepping their limits. A World Bank’s 2020 Global Gas Flaring Tracker, a leading global and independent indicator of gas flaring, recently ranked Nigeria as the seventh-largest gas-flaring country globally, only surpassed by Russia, Iraq, Iran, the United

States, Algeria and Venezuela. However, the NEITI report, which covered the industry’s activities for 2019, indicated that a total of 264,732mmscf of gas was flared during the year under consideration, but was 0.8 per cent lower than that of 2018, which was pegged at 266,869mmscf. “The revenue from flare gas payment was significantly higher from $15.4million in 2018

to $307.496 million in 2019,” the NEITI audit said. The dramatic increase in gas flare revenue may not be unconnected with the enactment of the Flare Gas (Prevention of Waste and Pollution) Regulation promulgated in 2018 by the National Assembly and administered by the Gas Division of the Department of Petroleum Resources (DPR) under the Nigerian Gas Flare Commercialisation

Programme (NGFCP) The regulation provides a new legal framework to support the policy objectives of the federal government for the reduction of Green House Gas (GHG) emissions through the flaring and venting of natural gas. The regulation increased the initial meagre flare payments (penalties) of N10 per thousand standard cubic feet, in the case of

anyone producing 10,000 barrels of oil or more, to $2.0 per thousand standard cubic feet of gas and, in the case of anyone producing less than 10,000 barrels of oil per day, to US$0.50 per thousand standard cubic square feet of gas. Furthermore, the regulation introduced mandatory additional payments by the producer of $2.50 Continued on page 26

Barkindo: 2.6bn People Without Access to Clean Cooking Fuel, $100bn Climate Action Pledge Unredeemed Emmanuel Addeh in Abuja Secretary General of the Organisation of Petroleum Exporting Countries (OPEC) has said that any discussions around the energy transition must take cognisance of the over 2.6 billion people worldwide without access to clean cooking fuel. While insisting that climate change and energy poverty were two sides of the same coin,

Barkindo stated that all the focus currently seems to be on one side. Speaking at the 20th Coordination Meeting on Climate Change, the secretary general stressed that the world cannot solve one of the problems, which is high carbon emissions, and ignore the other, which is access to reliable energy. He argued that no country can reach the objectives of the Paris Agreement without achieving access to reliable, affordable, sustainable

and modern energy for all by 2030. “The world must be reminded of the stark fact that 2.6 billion people have no access to clean cooking fuel, 930 million of which are in my home area — sub-Saharan Africa. “Additionally, 759 million in the world do not have access to electricity, 570 million of which are also in sub-Saharan Africa. Meanwhile, almost 3.8 million people die prematurely worldwide per year due to indoor pollution

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100KG JIGAWA

N9000

100KG ENUGU

N24000

100KG DELTA

N15000

100KG

ABIA

N14000

50KG

LAGOS

N13500

SIZE

from using solid biomass,” he said According to the OPEC helmsman, while the gap in financial support promised and that received is substantial, there needs to be more ambition on predictable finance, while developing nations must finally realise the promised $100 billion a year for climate action. He added that various other funding sources created in recent years — including the Global En-

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vironment Facility, Special Climate Change Fund, Least Developed Countries Fund, Green Climate Fund and the Adaptation Fund — should be fully funded and disbursed in a timely and predictable manner in accordance with the provisions of the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. Barkindo argued that it was of utmost urgency that this financing,

T O D AY

and aid from a new finance goal, finds its way to the developing countries that need it the most. He emphasised that the increasing pressure to address climate change is giving life to a lot of new and interesting ideas, including ways and means for individuals to play a personal role in reducing greenhouse emissions. Barkindo added: “For example, Continued on page 26

TUESDAY, OCTOBER 26, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

IFMA NIGERIA ADVOCACY…

L-R: Head,Facility Management and Special Project,Afriland Properties Limited,Mrs.Eneni Halim; Head, Clinical Services, Federal Medical Centre,Ebute Metta,Dr.Charles Onita; Director, Federal Public Asset Maintenance,Mrs Tina Onokwa; President, International Facility Management Association (IFMA) Nigeria, Mr Segun Adebayo; Head, Lagos Facility,Julius Berger, Mrs. PHOTO: ETOP UKUTT Amina Sarah Dottie,and Past President,IFMA, Mr.. Stephen Jagun, at the IFMA Nigeria Advocacy day 2021 celebration held in Lagos recently

Weak Earnings Down Stanbic IBTC Holdings’Proﬁt by 40% in 9 Months Darasimi Adebisi With about 20 per cent drop in gross earnings, Stanbic IBTC Holdings Plc has announced 40 per cent drop in profit in its nine months ended September 30, 2021 unaudited result and accounts. The company’s result made available by the Nigerian Exchange Limited (NGX) showed a Profit after tax of N39.9 billion in nine months of 2021 from N66.2 billion reported in nine months of 2020. Also, Profit before tax closed nine months of 2021 at N45.3 billion, down by 41 per cent from N76.9 billion reported in prior nine months unaudited results. Gross earnings and hike in operating expenses contributed to the Holdings decline performance in the period. Gross earnings dropped to N146.6billion in nine months of 2021 from N183.3billion reported in in nine months of 2020. Also, the group’s total operating expenses rose by 12 per cent to N79.35billion in nine months of 2021 from N70.85billion reported in prior period, while total operating income rose by 20 per cent to N123.2 billion from N154.7 billion reported in nine months of 2020. The interplay between operating income and expenses drove cost to

income ratio to 64.4 in nine months of 2021 from 45.8 per cent reported in nine months of 2020. Commenting on the results, Chief Executive Stanbic IBTC, Dr Demola Sogunle said: “We saw further improvement in key income lines in the third quarter when compared with the second quarter. Both net interest income and non-interest revenue grew quarter-on-quarter (QoQ) driven by increases in interest income and trading revenue while operating expenses moderated due largely to absence of the AMCON levy recognition in Q3 2021.

“The increase in interest income arose from increase in volume and average yield of loans and investments. Trading revenue growth, on the other hand, resulted from the increase in volume of trading activities. “Customer loans continued to grow in line with trend from the prior quarters and grew further by eight per cent QoQ as we continued to support our clients. This was funded by growth in customer deposits, which increased by 14per cent QoQ, thereby exceeding the N1.0 trillion mark. “We mentioned during our last results’ conference call, that the

Group is undergoing a future-ready transformation, that is, transitioning from a product/service focus to a Client Segment led organization effective August 2021. Accordingly, we present to you our very first set of financial results reported in line with this new structure.” He added, “Our new segments include Wholesale Clients (formerly known as Corporate and Investment Banking); Consumer and High Net worth Clients (formerly known as Personal Banking (PB) with the inclusion of Wealth and Investment Customers; and Business and Com-

mercial Clients (formerly known as Business Banking). The Wholesale Clients segment is responsible for managing large-scale corporate relationships. The Consumer and High Net Worth Clients Segment is responsible for managing consumer, affluent client relationships and the service channels through which we reach these clients while the Business and Commercial Clients Segment is responsible for managing businessto-business relationships as well as related service channels. “Thus, in line with our core value of delivering value to our shareholders,

the restructuring will advance the execution of our digital business transformation and enable us to achieve accelerated future readiness for the business and growth through effective mining of the client ecosystems propelled by a future-ready workforce. We continue to make progress in supporting the financial needs of our communities in Q3 2021, investing to advance tree planting exercise, youth and women empowerment through donations, sponsorships and partnerships, library upgrade and renovation, hospital unit refurbishment, amongst others.

Stakeholders: Using LPG asVehicle Fuel Could Save Africa $3bn Annually Emmanuel Addeh in Abuja The adoption of Liquefied Petroleum Gas (LPG) as a source of fuel for vehicles could save Africa a whopping sum of $3 billion, experts who gathered at the 15th anniversary of the African Refiners and Distributions Association (ARDA) annual ARDA Week conference, have agreed. Speaking on the “Role of LPG in Africa’s Energy Transition,” at the event, Executive Director, Sahara

Group, Temitope Shonubi, said converting just 30 per cent of Africa’s vehicles to run on LPG could result in $3 billion annual fuel cost savings and huge carbon emission reductions. Shonubi also noted that the indirect cost savings from its impact on health and infrastructure could exceed $15 billion yearly if LPG is fully harnessed on the continent. He further disclosed that only six African nations have combined LPG storage capacity

greater than 50,000 Metric Tons (MTs), stressing that such lack of large-scale infrastructure would lead to uneconomic cargo sizes thereby resulting in increased landing LPG costs. Stating that Africa consumes only 4 per cent of global LPG demand, Shonubi noted that affordability, purchasing power, limited infrastructure, safety concerns as well as cost of cheaper alternatives have accounted for low LPG penetration on the continent.

In order to grow Africa’s LPG consumption, he stated that strategies and policies must be implemented to promote investments in storage and distribution infrastructure and encouragement of financing schemes to make LPG more affordable. He added that target environmental impact rewards programmes for switching to LPG, enforcement of safe practices and education of the public to counter negative perceptions of LPG use could also

be encouraged to aid penetration. The industry expert stressed that the total cost of continued use of biomass, charcoal and other pollutants as cooking fuels rather than cleaner alternatives like LPG could lead to premature deaths. Executive Secretary of ARDA, Anibor Kragha, in his remarks, warned of imminent danger if Africa fails to quickly adopt modern clean energy as over 850 million Africans still depend on solid fuels (biomass) for cooking.

OIL COMPANIES’ GAS FLARE PAYMENTS JUMP FROM $15.4M TO $307.4M IN ONE YEAR

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

per thousand standard cubic feet of gas for failure to produce accurate flare data, failure to provide access to flares or flare sites and failure to sign a connection agreement. In the event of continuous or egregious breaches, there is also a possibility of suspension of operations or termination of the producer’s licence. The regulation was meant to discourage gas flaring while encouraging flared gas to be passed-on for commercial purpose thereby creating a win-win situation. On Environmental Impact As-

sessment (EIA), NEITI said that the data collected showed that companies conducted a total of 22 EIAs in 2019, with costs associated with the process running into $480,525 and N154,484 423 respectively. “Furthermore, the fees and other costs associated with environmental monitoring and evaluation in 2019 was also partly incurred in US dollars and partly in naira. The total was $2,420,268 and N33,190,931, respectively,” the report noted. In all, a total of 85 incidents were reported, consisting of 64

PALM OIL

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25CL LAGOS N20,000-N25000 25CL

N21,000-24,000

in 2019 and which has spread to dozens of other US major cities, seeks to ban gas stoves and water heaters in all new construction to reduce greenhouse gas (GHG) emissions. Gas appliances are meant to be replaced by electric ones. The electrification would,

NAME OF COMMODITY

RICE

IMO

N21,000–N24,500

SIZE

STATE

PRICE

100KG ABUJA N23,000–N25,000 50KG

OYO

N22,000-N25,000

PLATEAU N23,500-N25,000 (JOS)

50KG KWARA N24,000–N27,000 50KG

LAGOS N23,000–N26,500

50KG RIVERS N23,000–N26,500

25CL

EDO

25CL ABUJA

N17,000–N20,000 N19500- N25000

however, increase US electricity consumption by 40 per cent”. Above all, he urged the world to remember that people in many developing countries are struggling just to survive, noting that their right to be able to turn on a light or have electricity in hospitals

COMMODITIES

50KG

25CL IBADAN N18,000-N22,000 25CL

munities of operation, national or expatriates), and information on physically challenged employees) in the oil and gas industry. It stated that from data available from the field, a total of 18,856 employees of which 82 per cent was male and 18 per cent female was collected from 49 employment data collection templates. It added, “From this, the percentage of top management was 10 per cent, middle level management was 47 per cent and 43 per cent was the lower-level staff.”

According to NEITI, in top management, 78 per cent was male and 22 per cent female in middle management, 62 per cent was male and 18 per cent female while in lower management, it was 83 per cent and 17 per cent respectively. NEITI added that nationally employed staff in top management was 95 per cent, those in the middle and lower cadre were 96 per cent and 98 per cent respectively, while no information on physically challenged employees was obtained from the field exercise.

BARKINDO: 2.6BN PEOPLE WITHOUT ACCESS TO CLEAN COOKING FUEL, $100BN CLIMATE ACTION PLEDGE UNREDEEMED a new ‘premium’ black card not only tracks the CO2 emissions of personal purchases, but stops individuals from spending beyond their monthly, UN-determined CO2 limit. “A different movement in the US, started in the city of Berkeley

FOOD NAME OF COMMODITY

incidents of air pollution, four spillages in water and 17 spillages on land, while the payment to the government was $102,850 and payment by one unnamed company to local communities was $143,074.18. It listed the environmental audit as comprising management audits (every four years), quarterly compliance audit and site/ facility/ plant audit (every 2 years). Meanwhile, the report presented further information on gender, occupational level, the local employees (indigenes of com-

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COCOA

EDO

N17,000–N20,000

and are likely to reduce emissions by 12 per cent in 2030 compared with 2010. If fully implemented, it means global emissions could peak before 2030, though cumulative emissions from 2020 to 2030 would likely use up 89 per cent of the remaining carbon budget.

T O D AY SIZE

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PRICE

N740,000

1 TON ONDO – N760,000 1 TON OSUN 1 TON

EDO

N730,000 – N750,000 N720,000 – N740,000

N700,000 1 TON CROSS – N720,000 RIVER

50KG SOKOTO N11,500–N13,000 50KG

and schools, must be urgently prioritised. “According to the NDC Synthesis Report, developed by the UNFCCC Secretariat, new or updated NDCs submitted by the end of July account for about 49 per cent of global GHG emissions

1 TON

AKURE SOUTH, ONDO

N730,000 — N755,000

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ONIONS

100KG

IBADAN

N25,000

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KANO

N10,000

100KG

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N27,000

100KG GOMBE

N12,000

100KG DELTA

N21,000

100KG LAGOS

N25,000

100KG ENUGU

N15,000

100KG

N29,000

ABIA

TUESDAY, OCTOBER 26, 2021 ˾ T H I S D AY

BUSINESSWORLD

AGRICULTURE

Maximising Nigeria’s Opportunities for Agricultural Exports Gilbert Ekugbe in this piece tasked the federal government to urgently address challenges fuelling the low level of exports of agricultural goods relative to total exports

here is no gain saying that Nigeria’s agriculture sector, which used to be the mainstay of the Nigerian economy still has the potential to change the country’s narrative as an import dependent economy to one that could serve as a food basket to Africa. In 2020, Nigeria recorded a total of N321 billion of agricultural export. The agricultural sector contribution to Gross Domestic Product (GDP) grew to 23.78 per cent in Q2 from 22.35 per cent in Q1 2021. The figure also goes to say that Nigeria is yet to scratch the surface of the sector’s potentials. According to data from the Nigeria Bureau of Statistics (NBS), Nigeria’s top agro export crops include sesame seed, which has continued to be Nigeria’s agricultural export biggest earner for some years. During the period under review, Nigeria made the sum of N112.8 billion from the export of the product and this accounted for 38.9 per cent of the top 10 agricultural products. Top destinations for the product include Japan, China, Turkey, India, and Vietnam, while cocoa exportation is Nigeria’s second largest agricultural export. During the period under review, cocoa export was estimated to be N109.6 billion, accounting for 37.8 per cent of the top agricultural exports. The top destinations for the product were Germany, Netherlands, Spain, Indonesia, Belgium, Malaysia and Estonia. Cashew nuts were Nigeria’s third biggest agricultural export product during the period. A total of N38.2 billion was recorded from export of cashew nuts in 2020 and the top destination countries were Vietnam, India, USA, Russia and the Netherlands. Frozen foods such as shrimps and prawns accounted for 3.4 per cent representing the biggest export in Nigeria estimated at N9.85 billion in 2020. The Netherlands, Belgium, France, Vietnam, and the USA are top destinations for the export of the products. Although, there are renewed efforts by the federal government to diversify the economy away from hydrocarbon resources, but these efforts leaves much to be desired as the agriculture sector is still beset with myriad of challenges hindering the sector’s ability to take Nigeria out economic doldrums.

CHALLENGES OF AGRICULTURAL EXPORT

The Nigeria Export Promotion Council (NEPC) said that Nigeria has been unable to convert its enormous comparative advantage in the production of several agricultural primary produce to competitive advantage in the global market as a result of supply chain constraints. Some of the challenges identified by the council include poor packaging, labelling, poor storage facilities and preservatives and the likes. The

identified poor value addition as a major problem bedeviling the agricultural sector. Iyayi stressed that product differentiation as a value addition strategy is easier for goods that have been processed, transformed, packaged and labeled. He underscored that there is a need for the federal government to add value to agriculture produce in order to galvanise export earnings.

POOR QUALITY PRODUCTS

Chief Executive Officer, NEPC, Mr. Olusegun Awolowo, said it was as a result of this that the council proposed to establish the Domestic Export Warehouse (DEW), a one-stop facility and terminal for storage of products, packaging and labeling, pre-shipment inspection and fumigation of export designated goods in preparation for ultimate transportation to the ports. Awolowo said that the DEW once operational, would increase the global market share for Nigerian exportable agricultural products, help in the diversification of the economy, attract investors to the non-oil sectors and provide a platform for interface between export-related agencies and export practitioners. He also included poor logistics and documentation among the challenges hindering Nigeria’s export market, adding that these challenges could make or mar export transactions. According to a PwC’s survey that was conducted in 2018, Nigeria loses about $10 billion on non-oil exports due to gridlock at the nation’s major two seaports, the Apapa and Tin Can Ports. These ports were responsible for processing the bulk of Nigeria’s export

trade activities. The survey said that infrastructure and logistics challenges have continued to impact export, as well as import activities.

LOW VALUE ADDITION

Lack of value addition to the nation’s agricultural products has resulted to significant losses in earnings accountable to the country over the years. Agriculture is a worthwhile investment that could generate higher returns, allow penetration of a new potentially high-value market, extend the production season, create a brand identity and develop brand loyalty. In simple terms, value addition would allow the farmer to focus on the consumer while producing and thoroughly meeting consumers’ expectations. This way, a farmer could create a loyal market around the product. As farmers struggle to find ways to increase farm income, the potentials in adding value to raw agricultural products have to be understudied as the value of farm products could be increased in endless ways. The Registrar of the Nigerian Institute of Animal Science (NIAS), Mr. Eustace Iyayi,

Due to poor handling of agricultural products (post and pre-harvest seasons) diseases and pests attack as well as excessive use of pesticides for preservation purposes are also some of the major issues hindering agriculture export. Recently, the National Agency for Food and Drugs Administration and Control (NAFDAC) alerted members of the public about some vendors applying poisonous chemicals to preserve their food to the detriment of the health of Nigerians. Little wonder most of Nigerian agro commodities are being rejected at the global scene. The Director General of NAFDAC, Mrs. Mojisola Adeyeye, said over 76 per cent of Nigeria’s exported agricultural commodities are often rejected by the European Union for not meeting required standards. The Associate Director and Head of Agribusiness, PwC, Mr. Taiwo Oyaniran, said that with growing globalisation and increasing emphasis on quality agricultural products, which is benchmarked on international food safety standards, it has become imperative for the Nigeria Agricultural Quarantine Services (NAQS) to put in place appropriate risk management measures and provide required guarantees on agricultural products leaving the shores of the country so as to prevent sour relationship with its trading partners.

AGRIC STAKEHOLDERS’ RECOMMENDATION

An agribusiness expert and Director General of Premier Agribusiness Academy, Mr, Toromade Francis, in a chat with THISDAY, called for the institutionalisation of in Standard Operating Procedure (SOP), saying that it is not enough to grow cocoa in Nigeria but meeting global best practices to prevent the high level of rejection currently being faced by Nigeria’s agro commodities. Francis said: “There are procedures and documentation for anything that you will send abroad. These things have to be enforced by government, but the challenge we have is that we do not even have enough to feed ourselves not to even talk of export. What you export is excess. We need to follow up on the yield per hectare for us to be self-sufficient. If we are not self-sufficient, exporting would be counterproductive. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Focus on Agribusiness, Agric Minister Reafﬁrms Rice Farmers Commitment to Human Debunk Allegations Entrepreneurship SMEDAN Capacity Development over Funds Diversion Urges Nigerian Youths Gilbert Ekugbe The Minister of Agriculture and Rural Development, Mr. Mahmood Abubakar has vowed to support the training and welfare of staff in the ministry, stating that one of his aims is to enhance the productivity and performance of staff in the workplace. Abubakar disclosed this during his recent visit to the Federal Ministry of Agriculture and Rural Development (FMARD) North-west Zonal Office Complex in Kaduna, Kaduna State. He said the working visit was basically to ensure that the staff and management team of the ministry in the North-west region worked in tandem with the federal government’s goals. He noted that the federal government’s focus is primarily on the overall development of the human capacity to enhance productivity and boost the government’s effort in achieving food security and job

creation for Nigerians. The minister urged staff to always align their duties with the president’s diversification policy in the agro sector, which is aimed at achieving food sufficiency, job creation, and economic growth. “The establishment of the zonal and state offices of the ministry across the country is to provide leadership and policy direction for the successful implementation of the agricultural programmes of the ministry across the board. There is a need for a robust synergy and collaboration between the headquarters, zonal and state levels for the effective and efficient implementation of the diversification policy of the government,” Abubakar stated. On his part, the North-west Zonal Director, FMARD, Mr. Ubandoma Ulaaramu, said the minister’s visit was good and timely as it would encourage and enhance the capability of the staff in the zone.

Gilbert Ekugbe

The Rice Farmers Association of Nigeria (RIFAN), Niger State Chapter, has rebutted allegations leveled against the association for siphoning funds meant for boosting rice production in the country. The Publicity Secretary of RIFAN, Niger State Chapter, Mr. Ibrahim Yusuf, debunked this allegations leveled against the association in a signed statement. Yusuf stated that an online platform attributed to one Shariff Alhassan accused RIFAN of diversion of funds allotted for boosting rice production. He said: “The attention of our forum has been drawn to the unverifiable allegations against the coordinator of Rice Farmers Association of Nigeria, Niger State Chapter, in a publication purportedly written by one Shariff M. M Alhassan. RIFAN as a critical stakeholder in the affairs of the nation, we consider the allegation as a mere tale orchestrated to discredit us.

“It is on record that Niger RIFAN remains the leading state in terms of rice production and the Ministry of Agriculture and other state and federal government intervention agencies food can attest to this fact. We challenge the Shariff M. M Alhassan to name the warehouse the rice he claimed were procured were stored by RIFAN Niger state or any actual corruption practice indulged by the association. “We again restated our position that the report was meant to create rancor in our rank and misinform the public and good people of Niger State. Why did the reporter not make efforts to hear our own side to balance his sensational report, which we believe was meant to pursue a sinister motive?” he asked. He however, called on the member of the public to debunk rumors and unverified claims, targeted to dent the image of the association. “We call on the public to disregard this purported tale as we remain focused and committed in boosting local rice production in Niger State.

Gilbert Ekugbe Expressing concerns over the high level of unemployment rate, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has urged Nigerian youths to focus on agribusiness and entrepreneurship. Indeed, data from the Nigeria Bureau of Statistics (NBS) puts Nigeria’s unemployment rate as at Q2 of 2020 at 27.1 per cent, representing about 21.7 million Nigerians who are unemployed while over 13.9 million Nigerian youths are unemployed or underemployed. The SMEDAN South-West Zonal Coordinator, Mr. Shode Olukayode, made this call recently during the training and empowerment of 160 youths on agribusiness in Akure, Ondo State. According to SMEDAN, participants with innovative ideas would receive financial and technical support through entrepreneurship training. The six-day entrepreneurship training targeted at encouraging youths

to embrace farming and increase the exportation of agricultural produce was organised for some selective cooperative organisations in the state. Olukayode noted that the training and empowerment programme was the federal government’s initiative to support cooperative organisations. He added that the event would be held annually, with Ondo and Ogun States chosen from South-west to partake this year. The zonal coordinator affirmed that the participants were drawn from the 18 local government areas of the state. On his part, the Governor of Ondo State, Mr. Rotimi Akeredolu, encouraged the youths to venture into entrepreneurship to contribute meaningfully to the nation’s economic growth and development. Akeredolu, who was represented by his Special Adviser on Multilateral and Intergovernmental Affairs, Mr. Bunmi Ademosun, tasked the youths to use their innovations and creative geniuses to create wealth for the nation.

T H I S D AY ˾ TUESDAY, OCTOBER 26, 2021

BUSINESSWORLD

MANUFACTURING

Coca-Cola System and Sustainable Manufacturing in Nigeria Ugo Aliogo writes on the Coca-Cola system sustainable manufacturing in Nigeria and its committed to minimizing its environmental footprint and enriching communities where it operates.

An Eﬄuent Treatment Plant

or many consumers, especially in developing countries, their interest in products lie primarily in the direct benefit the products avail them. Not many actually pay attention to the impact of their consumption on the environment in the short term and on the world we all live in, for the long term. This may be the reason why the manufacturing practices of many organizations in developing countries mirror the level of public interest in sustainable manufacturing. But what really is sustainable manufacturing and why is it important? The US Department of Commerce’s ‘Sustainable Manufacturing Initiative defines the term as: “The creation of manufactured products that use processes that minimize negative environmental impacts, conserve energy and natural resources, are safe for employees, communities, and consumers and are economically sound.” In an article by Dr Nageswara Rao Posinasetti, a Professor at the Department of Technology, University of Northern Iowa, USA for industry. com, he defined Sustainable Manufacturing (SM) or green manufacturing as, “a method of manufacturing that minimizes waste and reduces the environmental impact.” According to him, these goals are to be obtained mainly by adopting practices that will influence the product design, process design and operational principles. In practice, the four focus areas for sustainable manufacturing are Energy use reduction, Water use reduction, Emissions reduction, and Waste generation reduction, and interestingly, the Coca-Cola system, a private sector player with extensive manufacturing operations in Nigeria, is leading the charge in these four areas. The Coca-Cola system in Nigeria, which comprises Coca-Cola Nigeria Limited and Nigerian Bottling Company (NBC), has a rich heritage, spanning several decades of operations in the country. The system is celebrating its 70th year of operations in Nigeria this year and it is encouraging to see that as the system continues to seek channels to grow its business, it is doing so in ways that are future looking, and with consideration to the environment. In addition to the significant strides it has taken in the past, the system is implementing policies and setting up frameworks to ensure that its focus on sustainable manufacturing does not wane in the years to come. For example, the manufacturing component of the Coke System in Nigeria, NBC, is part of the Coca-Cola Hellenic Bottling Company group (CCHBC), which has committed to minimizing its environmental footprint and enriching communities where it operates. As part of this communicated strategy, CCHBC instigated 17 sustainability commitments ahead of 2025. These commitments address six major areas including the reduction of emissions, water use and stewardship, working towards a

A Production Line world without waste, ingredients sourcing, nutrition, people, and communities. Even before the announcement of the CCHBC sustainability commitments in 2019, NBC had already begun its sustainable manufacturing journey. Speaking on its water usage, National Environmental Manager at NBC, Temitope Ogunrinde, said, “Ensuring good quality safe water in sufficient quantities, as well as access to clean water and sanitation are essential to the health of people and ecosystems and vital for sustaining communities and supporting economic growth. Therefore, we aim to be a good steward of water resources in our communities; by using water in socially equitable, environmentally sustainable, and economically beneficial ways. Our approach is to reduce our water consumption by about 20% in water priority plants from 2017 to 2025, reuse it, recycle wastewater to the levels supporting aquatic life and replenish water by restoring it.” With regards to the environment, the company installed its first Effluent Treatment Plant (ETP) in Benin Plant in 2002 long before improperly treated manufacturing wastewater became a regulatory concern in Nigeria. With the installation of ETPs in all its plants across the country, this ensures that the company’s manufacturing wastewater is fit for discharge back into the environment. One may be intrigued to find fishponds with large, thriving schools of fish tucked into one of the chambers of the ETP in its manufacturing plants nationwide. According to the company, the fish farms serve to ensure that water effluent from its operation is safe enough to support healthy plant and animal lives. It therefore comes as no surprise that all NBC manufacturing plants have been presented with the prestigious Alliance for Water Stewardship (AWS) certification. The NBC Abuja manufacturing plant was the first bottler in Africa to be AWS certified, and shortly afterwards in 2019, the NBC Ikeja plant became the first bottler in Africa to receive the AWS Gold certification, which essentially means that the plant has met the highest global benchmark for responsible water stewardship. PortHarcourt and Asejire Plants also earned gold certifications the same year. While Benin, Challawa and Abuja Plants have achieved the Core certification; Owerri and Maiduguri Plant in Nigeria’s North East have bagged the gold certification apiece. According to the United Nations, with regards to the Sustainable Development Goal 12, which is ‘to ensure sustainable production and consumption patterns’, developing countries still have a vast

potential for renewable energy. In 2011, in what seems to be a demonstration of its commitment to optimizing its operations through technology, the Coke System also invested heavily in installing Combined Heat and Power Plants (CHP) at its manufacturing plants. This suite of technologies is currently running in its Port-Harcourt, Ikeja, Benin, Owerri and Asejire Plants, resulting in a significant reduction of its carbon footprints across the country. By the end of 2020, across its production plants, the System had reduced its absolute carbon emissions for energy generation and use by 10,587 tonnes. This is in spite of a production volume increase of 66 per cent within the same period. The company is also evolving all its manufacturing plants that are not on CHP to be powered in part by renewable energy, with the recent installation of photovoltaic or solar energy power equipment. This hybrid solution will enable the plants to switch from the national power grid and generator backups to the solar generated power, thereby reducing the consumption of power from less green sources. The preliminary phase of this initiative started last year at the manufacturing plants located in Maiduguri and Abuja, with photovoltaic cells delivering up to 1,700 KWP to the facilities. Further installations at its plants in Asejire and Challawa delivered a 950KWP solar power set up which is ensuring even more sustainable growth across the ecosystem. Together, they translate to an annual carbon footprint reduction of 1900 tons, with capacity for expansion in the future. According to the Public Affairs and Communications Director at NBC, Ekuma Eze, “At NBC, we believe that a business can only be as sustainable as the communities in which it operates. We believe that our communities are the bedrock of our business. If our communities are healthy, prosperous, and sustainable, only then can our business become strong and grow. Over the many decades of our operations in Nigeria, sustainability has continued to be integrated into every aspect of our business, as we look to create and share value for all our stakeholders. We continuously invest in our communities, working together on key environmental and social issues.” These efforts, Ekuma noted, reflect the strong commitment of the company to innovations that strengthen the sustainability of the environment. In 2010, the System launched its light-weighted packaging campaign. This was heralded by the roll-out of its innovative Ultra glass bottle, marking a major shift from the regular bottles. It

has not only resulted in 16% weight reduction of its 50cl bottles and 14 per cent of the 35cl range, but it has also led to significant CO2 emission reduction. This innovation has been extended to its PET packaging in recognition of the vital role of light-weighting and source reduction as key drivers of sustainable manufacturing. The System has been consciously reducing its packaging material usage rate, a move which has seen an annual plastic weight reduction of 2,000 metric tons and a corresponding CO2 emission reduction of 4,000 metric tons every year. The area of product and equipment design has also been explored by the system as a means of leaving a greener environmental footprint. This is one of the ways through which Coca-Cola in Nigeria has mainstreamed sustainability into every aspect its business operations, from investing in chillers that are ozone friendly or forklifts and fleet that are environmentally compliant. Other efforts include initiatives such as light weighting of its product packaging, which places a reduced demand on fossil fuel consumption during transportation. As the world’s population continues to grow, with human activities placing an increasing demand on the environment; it is very important that industries begin to take a more critical look at how their activities can be optimized to have the least possible negative impact on the environment. Apart from the benefits to the environment, improved manufacturing sustainability practices can also present a good number of benefits to companies who evolve to imbibe them. For example, as with the case of NBC cited earlier, the introduction of Combined Heat and Power plants provided a means to save resources that would have been used to power other aspects of operations, thereby saving expenses. These practices can also boost the morale of employees within an organization, as employees deliver better results and are more engaged when they have pride for their place of work. This positive reputational impact further extends to an improved perception and support from host communities for environmentally responsible companies. From setting up a modest bottling facility in Ebute-Metta, Lagos in the early 1950s to installing its high-speed canning line in Ikeja and its ultra-modern greenfield in Challawa, Kano State, in 2021, NBC has made relentless innovation a priority that continues to define its manufacturing operations. And by constantly retooling its production processes, adopting global best practices and leveraging new technology to optimize its operations, NBC continues to solidify its footing as a champion of sustainable manufacturing in Nigeria.

T H I S D AY ˾ TUESDAY, OCTOBER 26, 2021

BUSINESSWORLD

INDUSTRY

‘Our Focus is Saving Port Users’Time and Money’ Acting Managing Director of the Nigerian Ports Authority, Mohammed Bello-Koko, bares his mind on some issues, including over-stretched ports facilities, efforts to reboot the electronic truck call-up system and the agency’s effort to tackle the perennial Apapa gridlock. Excerpts: How operationally efﬁcient are Nigeria’s seaports? Are they efﬁcient enough to prevent the congestion we see outside? he two seaports in Lagos, the Lagos Ports Complex and Tin Can Island Ports Complex are currently operating far beyond their installed capacity. What it simply means is that if they were built to handle 500,000 TEUs for instance, probably they are now handling about 700, 000 TEUs. You will also notice that the city has caught up with the ports so there is no space to expand them. What we need to do is to improve on the activities in the ports, in terms of efficiency. In 2006 when NPA concessioned the terminals, there was a development plan between the NPA and the terminal that included both physical development and then deployment of equipment. The terminal operators have met those agreements and everything has evolved but there is a need for bigger and more efficient equipment, better Information Technology IT systems and so on and so forth. So, we have seen an improvement in terms of efficiency, there is an increase in efficiency. But there is room for more. We have observed system downtime in one or two of the terminals, especially the APM Terminals, which is one of the terminals. Whenever the APM Terminal system is down, it causes a lot of backlog at the back in terms of traffic. Actually, what we have done was to sit down with the terminal operators and tell them that they need to improve on their operations; we have Monitoring and Regulatory Department in the NPA, which has an index that on a monthly basis we look at the operations of the terminal operators and we grade them based on their operations and we also go ahead at the end of the quarter to sit with them and tell them where they have decreased and where they have improved and we have seen a better synergy between what the terminal operators are doing and the shipping lines, because some of them also have affiliated shipping lines working with them. To improve the operations within the port we came up with a policy that established empty container holding bays and we mandated all shipping lines to ensure that they have a holding bay outside the port premises for their empties. This is to ensure that you, as an importer, when you take away your cargo from the port, you go to your business premises or warehouse and you offload it, you should not bring the empty container into the port, you should rather take it into the holding bay. The second thing is that we mandated that for every vessel that comes into Nigeria, when it is sailing out, it must take away at least 80% of the total quantity of containers it brought in either as empty or as export cargo because we were beginning to see that Nigeria was being turned into more like a dumping ground for empty containers and, to a large extent, that has worked because those empty containers have been removed. But we are ensuring that regularly, that is being monitored and efficiency has increased.

there for four, five or six years and they are still there. We have requested that they should be posted out of that location and bring in a new set of people that will actually and truly work for Nigeria. But let me also state this clearly that we have had the cooperation of the Navy, Army, Police and everyone that is involved in this; they have made efforts to ensure that this stops and I know that actions were taken by the Navy and I thank them for that, I know that Police also took action to reduce that, when you have errand officers at times that are off duty and they show up in uniforms with guns and they perpetrate destructions. We also punished some NPA security men that were indicted.

How did you feel when you assumed duty as MD with this seeming intractable congestion on the roads? The first thing I did on assumption of duty was to look at the current system in place, which is the

How far have you been able to curtail the Apapa gridlock? I can tell you that with the deployment of infrastructure under the Electronic Call-Up system for trucks, we have been able to eliminate the Apapa gridlock by more than 80 per cent and this is verifiable. In addition to the deployment of the Eto platform, we are currently promoting multi-modal transport systems through the use of barges for the movement of cargo in and out of the ports; this development has tremendously reduced congestion at most terminals, thereby improving ports efficiency. The little remnants of the gridlock in some areas in Apapa are due to the very poor state of the Tin Can Port-Mile2 corridor, which is under construction and when the road rehabilitation is completed, the little traffic you see now would be completely eliminated. Following the deployment of infrastructure under the e-call up system, traffic on the Apapa-Ijora axis has reduced by over 80 per cent; you can take a trip to that corridor, but as I said earlier, most of the road networks on the Tin Can, Cocoa Nut –Mile 2 axis, are at various stages of reconstructions and so the eto infrastructure has not been deployed in the area. Bello-Koko electronic call up system, also called ‘Eto’. I paid a visit to the main truck park itself, which is located at the Lily Pond Terminal, Ijora to see what was happening. I went round and I went into the ports. The idea was for me to have first-hand understanding on what the problem is and we held a meeting with TTP, which is the company that deployed ‘Eto’ system platform on behalf of the NPA, and we analysed what has been happening from February to May. We observed lapses, one of which was the non-deployment of the electronic call up system Information Technology IT system that should have been in place in some locations in the satellite truck parks. We also looked at the non-deployment of physical infrastructure such as the bollards, the automated gates and we sat down with them in several meetings. We gave them ultimatums to deploy the infrastructure or lose the contracts. The essence of ‘Eto’ was actually to streamline the movement of cargo in and out of the ports, reduce human interference, and speed up the process of cargo delivery. As long as there is human interference there would be delays, there would be extortion and so on. What we need to do is to work on the human interference, stealing of Eto tickets and so on, because

we have a situation where a trucker is along the route and he has his Eto ticket and at the next bus stop, a security agent stops him to say let me see your Eto ticket and the Eto ticket number is 123456 and probably he is so many kilometres away and they cram that number and the call a truck that is ahead that doesn’t have an Eto ticket and give that truck that same Eto number and that person will enter a certain building around Apapa and probably in 15 mins to 20 mins they also get a plate number printed for them and they merge it and get access into the port. Shortly after the real owner of the number now shows up and his ticket has been used and that is why we have now requested that TTP should change this to QR code, when you have a QR code we will be able to scan it and you go through, you can just cram a QR code. We also read recently that there is N100 Million extortion daily at the ports. How can you track those behind these? First of all, what we have discovered is that there are security officials that have been working within that area, we call it the red zone, which is the Tin Can- Apapa area that has probably been posted

On a scale of 1-100%, how many containers are moved in and out of the ports by barges? We currently have about 59 barge licences that were issued to different companies that applied to be given these licenses and they have various sizes of barges and some of them are either self-propelled while others use tug boats. What we did was to encourage the movement of cargoes whether the import or empty containers from one part of the port to the other or to off dock locations and bonded terminals, we can say approximately about 10-15% of the cargo are moved by barges. There is an increase now and that is very minimal, imagine if you are taking off 500 trucks off the road and if you look at it in quantum, we held a meeting with barge operators and we said we look at the safety standards of the barges, we need to increase the activities of barge operators and we are encouraging them to come together and find funding. If we need to get involved we need to look at the quality of their barges, no problem, but just as we have created minimum safety standards for trucks, we have just created one for barge operators. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

First Multi-billion Naira Solar Commercial Hub Set for Construction in Owerri The mood in Owerri – the Imo State capital was joyous and up-beat recently during the ground breaking ceremony of the DENKA Business City project at New Owerri. The Ceremony, which signalled the commencement of the long awaited project had the Igwe of Orlu as special guest of honour. It was organised by the Board and Management of Solarcity Housing and Commercial Estates Limited (SOLARCITY H.A.C.E.), a real estate development company based in Abuja in partnership with Fidelity Bank Plc. (Project funders)

This project is a multi-billion naira, multi-use, multi-faceted project located at the heart of new Owerri which upon completion will become the commercial hub and focal point for business activities in new Owerri. The Executive Director (Operations) of SOLARCITY H.A.C.E; Sir Solomon Nwaoku who spoke during the ceremony give a firm commitment that the project will be completed within 18 months. He said that the commercial estate, occupying over 2.1 hectares of land, will comprise a mix of shops, offices and commercial apartments

(two bedroom apartments and one bedroom apartments) to be sold to interested subscribers. “The location is ideally situated a few blocks from the popular Concorde Hotel, adjacent to Mimi’s place and directly opposite the new Everyday Supermarket. The Imo State House of Assembly Complex also bound it in the north, “he said. Solomon explained that each of the shops and offices will be powered by solar energy adding that all the basic facilities including tarred roads, street lighting, water and on-grid electricity will be provided.

He said that Fidelity Bank will fund the construction of the project while CBN cooperative members are the major off-takers for the units. His Eminence Dr. Patrick Acholonu, Igwe XI1 of Orlu in his remarks thanked the Developers and the landowners for collaborating to bring this huge investment to Imo State. He highlighted that Owerri still remains the most viable destination in the southeast for real-estate business with Imo State being the fifth largest GDP in the country. He urged Imo indigenes to invest in the project by buying the units

being offered for sale as such an investment will ensure quick returns and strong appreciation in property value. Also speaking, the Imo State Commissioner for Budget, Economic Planning and Statistics, C. C. Osuala who laid the foundation stone for the project lauded the prosperity initiative of the current government of Senator Hope Uzodimma, which provided the inspiration for investors to undertake the project. He observed that the project was in consonance with the present government’s drive to

attract investments to the state and commended the project initiators for bringing a project that will bring financial impact of this magnitude to Imo State. In his remarks, the Imo State Commissioner for Works – Ralph Nwosu Esq expressed government’s attraction to projects that improve city landscape and improve the urban status of Owerri. He assured that government will provide all necessary infrastructure required for the sustenance of the Business City. He promised to use his office to improve on all access roads surrounding the project site.

‘Nigeria Has no Business Importing Reﬁned Petroleum Products’ Kemi Olaitan in Ibadan The Chief Executive Officer of an independent oil and gas exploration and production company, ND Western, Mr. Eberechukwu Oji, has said Nigeria being an oil producing country does not have any business in importing refined oil products. He said this while addressing journalists shortly after the commissioning of Prof. Mosobalaje

Oyawoye E-Library Complex at the Department of Geology, University of Ibadan. The E-Library complex was built in honour of Oyawoye, the first professor of Geology in Africa and a native of Offa in Kwara State, who is regarded as ‘Baba’ of geologists Present at the event include the acting Vice Chancellor of the university, Prof. Babatunde Ekanola, who was represented by Prof. Olayinka Omigbodun, the immediate

past VC of the institution, Prof. Idowu Olayinka, members of the Oyawoye family, colleagues, members of Offa Descendants Union (ODU), captains of industry and many others. Oji said what Nigeria needed to do is to export refined oil products and not import, stating that it is a shame that the country is spending scarce foreign exchange to import what it can produce locally. According to him, “As I have said

many times before, Nigeria should be exporting refined products by now. It does not make sense that we export our crude oil and then turn around to import refined products. It makes sense that we keep our resources within our country.” He stated further that the oil sector is lucrative enough to attract the necessary investors, noting that the government should provide the enabling environment that would

stimulate the interest of investors to commit their resources. On the E-Library, he assured that the company would collaborate with the department to make it functional, maintaining that the leadership at ND Western like to excel at everything thing are involved in including the E-Library as it is part of the Corporate Social Responsibility (CSR) of the company. “We would be delighted to collaborate further with the Geology

department to evolve a model that will ensure this E-Library is put to great use and is optimally functional many years from now. In essence, we are assuring that ND Western is not a fairweather friend and not only passionate about running a great business but also have an abiding commitment towards our shared dream for a better Nigeria through Corporate Social Investment of this nature, “he said.

TUESDAY, OCTOBER 26, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

Ayade Wants C’River Designated as Export Corridor Bassey Inyang in Calabar Cross River State Governor, Ben Ayade has said he wants the state to be designated as an export corridor so that it can benefit from the African Continental Free Trade Area (AFCTA). Ayade said he believes the state deserves to be so designated as such

given its long Atlantic coastline, and the huge industrial value chain made possible by his administration, Speaking at the State Executive Council Chamber of the Governor’s office, Calabar during a presentation by the state chapter of the Nigerian Association of Small and Medium Enterprises, yesterday, the governor stressed that, “this presentation

Samsung Heavy Industries Nigeria Nominated for Forbes Award in Dubai Peter Uzoho Barely one month after Samsung Heavy Industries Nigeria Limited (SHIN) announced that it had received ‘Award of Merit’ from the Tertiary Education Trust Fund (TETFund), the global shipbuilding giant has been nominated for Forbes Best of Africa Energy Award coming up in Dubai, United Arab Emirate. SHIN disclosed that it has received notification to receive Forbes Best of Africa Offshore Oil and Gas Facilities Development Award, and to speak at the FIN/Forbes Oil and Gas Roundtable session of the Africa-UAE Trade Investment Forum scheduled for November 21 to 23. Co-hosted by Foreign Investment Network and the Government of Dubai, Forbes Africa-UAE Trade Investment Forum is aimed to stimulate wider inclusiveness between countries to speed up the actualization of prosperous Africa; act as advocacy machinery for the development of job creation and incubation systems for African youths at the grassroots and impact on the participants improved know-how on available opportunities for trade, investment and so on. SHIN will receive the award on November 21, 2021 at the prestigious 7-star Burj Al Arab, Dubai, United Arab Emirates. Expected key participants at the trade and investment forum include; President Cyril Ramaphosa of South Africa; President Emmerson Mnangagwa of Zimbabwe; President Felix- Antoine Tshisekedi Tshilombo, of the Democratic Republic of Congo (DRC), who is also Chairperson of the African Union; Majid Saif Al Ghurair, Chairman Dubai Chamber of Commerce; Zulfiquar Ghadiyali, Executive Director, Directions Investment Holding Company (DIHC); Beata Habyarimana, Minister of Trade and Industry, Rwanda; Adeniyi Adebayo, Minister of Industry, Trade and Investment, Nigeria; Ebrahim Patel, Minister of Trade and Industry, South Africa.

The theme of this year’s roundtable is: ‘Energy Security within Trade and Investment Ecosystem.’ The event will speak to offshore oil and gas facilities development and contracting proposition within the energy sphere and celebrate Africa-UAE trade and investment sustainability opportunities. Forbes Best of Africa Offshore Oil and Gas Facilities Development Award is not the first international award to be received by SHIN. In September 2019, the company won a highly commended award for its ‘Contribution to the Development of Regional Maritime Cluster’ at the prestigious Sea trade Maritime Awards Middle East, Indian Subcontinent & Africa held in Dubai. SHIN had also won ‘Breakthrough Deal of the Year 2018’ and ‘African Project of the Year 2019’ in Africa Assembly award held in Paris, organized by the Oil and Gas Council in Paris for the Egina FPSO unit built for Nigeria’s Egina oil field. SHIN had also in February 2020 received ‘Award for Technological Breakthrough’ at the Nigeria International Petroleum Summit (NIPS) in Abuja The award was in honour of SHIN for the innovations introduced during the construction of the Egina Floating Production Storage Offloading (FPSO) unit, the world’s largest FPSO, which was built for the Egina oil field, the deepest offshore oil and gas field in Nigeria. Earlier in April, 2019, SHIN was also recognised by the Nigerian Oil and Gas Opportunity Fair (NOGOF) with the first place winner for the most impactful contribution to local content development since 2017 to date. The company had also written Nigeria’s name in the global business and technology map in April 2021 with its recognition with award of ‘Excellence in FPSO Services’ under the utility/energy category of the 2021 Global Business Outlook (GBO) Awards.

Lagos Faults Nigeria’s Centralised Electricity Supply System Peter Uzoho The Lagos State Government has raised concerns over the country’s inefficient and over-centralised electricity supply system, resulting in the state’s residents generating over 4,500mw through the use of generators. Speaking in Lagos during a panel session at the just concluded 2021 Energy Sustainability Conference (ESC) organised by the Energy Institute Nigeria, the state’s Commissioner for Energy and Mineral Resources, Mr. Olalere Odusote, said the distribution companies (Discos) in the state only supply 900 megawatts (MW) of electricity to Lagos. The Theme of the conference was “Accelerating Sustainable Energy Solutions through Policy Implementation: Prospects and Limitations.”

He noted that the 900MW supplied by the Discos translated to just 30W per person while the residents generate 4500MW by themselves. The two Discos supplying electricity to Lagos are Eko Electricity Distribution Company (EKEDC) and Ikeja Electric (IE). Odusote said: “Today, in Lagos, the distribution companies supply 900MW into the market. Now, for a mega city of 27 million people, that means about 30watts per person. Lagos is the industrial commercial sector of Nigeria and we have 30watts per person to share. “Let’s compare with South Africa that has 110watts per person. Now, this energy concentration has significantly increased in the industrial areas. So, if you look at Lagos and look at other countries, the central system is not supplying the energy that we need, “he said.

enables us to decide on our merchant vessel as proposed in our budget so that we can start exporting our noodles, start exporting our frozen chicken, start exporting our rice, and indeed start exporting all that we produce from our agro factories.” He disclosed that exporting from the Calabar Port, products from Cross River’s industries would find a ready market in at least 15 countries in the West and Central African coast.

Continuing, the governor said: “We must take advantage of our industries and push our products beyond Cross River, beyond Nigeria and take advantage of the AFCTA to expand the horizon of our market. That is why we have the Ministry of Commerce; that is why we have the Ministry of Foreign Affairs to focus on how we can export. “And I remain committed and dedicated on the need for Cross

River State to have a very robust maritime trade activity to enable us develop our business environment where young men and women will migrate out of politics into business.” In his remarks, the state chairman of the association, James Alicha commended the governor’s industrialisation drive assuring that with 33 industries established by the Cross River state government

under Ayade, the state would benefit immensely from non- oil earnings through AFCTA efforts. “If we are to showcase these 33 industries alone, Cross River State will compete favourably with other states that are deriving their revenue from other businesses other than oil . “AFCTA is here to market the products from all His Excellency’s factories”, Alicha said.

MONTBLANC BOUTIQUE DEBUTS…

L - R Chief Executive Officer, Polo Luxury Group, John Obayuwana; Executive Director, Polo Luxury Group, Jennifer Obayuwana and Managing Director, Africa, Montblanc, Alain Dos Santos during the unveil of the first stand alone Montblanc boutique in Nigeria at The Palms Shopping Mall Lekki, Lagos.

OTUWA: Post COVID-19 Economic Recovery in W’Africa May Linger Onyebuchi Ezigbo in Abuja The Organisation of Trade Unions of West Africa (OTUWA) has expressed concern that most countries in West African do not have the resources required to mitigate the excruciating effect of COVID-19 pandemic. He said the sub-region was faced with chronic lack of resources to reflate its public service at a time of a pandemic like the type direct cash transfers that was being done in developed countries. OTAWA President, Mr. Mademba Sock, said this at the opening session of a two-day sub-regional workshop

on: ‘COVID-19 and Post Lockdown Socio-Economic Recovery in West Africa,’ in Abuja, yesterday. ‘’We have seen how billions of dollars have been deployed by the developed western nations to buy up and stockpile hundreds of millions of vaccines against COVID-19. ‘’This leaves hundreds of millions of people from the developing nations with virtually none of these vaccines. ‘’Not only are these vaccines not available for our people, they are also expensive and our government have largely depended on hand outs from donations into a central pool called Covax Initiative,” he said.

He said the workshop would review efforts being made across the sub-region by ECOWAS and individual national government to make the vaccine available to tens of millions of ECOWAS citizens. He also said the workshop would review the economic measures being put in place by the various government in the sub-region to stimulate investment in the economics of countries in large, small and medium size enterprises. Also, International Labour Organisation (ILO), Country Director for Nigeria, Ms. Vanessa Phala, noted that COVID-19 had

wrecked unprecedented havoc to health, economic and social life in almost all countries of the world, including the rich industrialised countries. Phala said there was a need for strong tripartite respond to the COVID-19 pandemic and its related impact on the world of work which is the Global Call adopted by the ILO. ‘’The Global call which underlines the need for supporting a humancentred recovery. It also highlights the policies that are needed to shape a global response to the pandemic that is inclusive, sustainable and resilient.

TUESDAY, ͺ;˜ ͺ͸ͺ͹ ˾ T H I S D AY

Wednesday, October 27, 2021

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ĚƌŝǀĞŶ ďǇ ďƵǇŝŶŐ ŝŶƚĞƌĞƐƚƐ ŝŶ /Zd > & ;нϭ͘ϯйͿ͕ 'd K ;нϬ͘ϰйͿ͕ Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ ĂŶĚ & E, ;нϮ͘ϰйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϰϭ͘ϰй

t W K ;Ͳϭ͘ϯйͿ͕ ĂŶĚ h ;ͲϬ͘ϳйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂͲ

ŽĨ ƚŚĞ ŝŶĚĞǆ͘

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘

Ticker

THISDAY AFRINVEST 40

1,770.93

0.37%

780.00

1.3%

28.8%

72.00

0.0%

10.5%

28.60

0.4%

8.3%

ŽŵĞƐƟĐ ŽƵƌƐĞ ^ƵƐƚĂŝŶƐ ZĂůůǇ͘͘͘ ^/ ƵƉ Ϭ͘ϭй

^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй

zĞƐƚĞƌĚĂǇ͕ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĞǆƚĞŶĚĞĚ ŝƚƐ ďƵůůŝƐŚ ĚŽŵŝŶĂŶĐĞ ĨƌŽŵ

zĞƐƚĞƌĚĂǇ͕ ƉƌŝĐĞ ŽŶ ƵƉƟĐŬ ,KEz&>KhZ ƚŚĞ ƉƌĞǀŝŽƵƐ ǁĞĞŬ ƚŚĞ ďĂĐŬ ŝŶ ŽĨ ďƵǇŝŶŐ ŝŶƚĞƌĞƐƚ ;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ĂŶĚ ;нϬ͘ϳйͿ ďŽůͲ ŝŶ /Zd > & ;нϭ͘ϯйͿ͕ & E, ;нϮ͘ϱйͿ͕ ĂŶĚ & E, hE/> s Z ;нϲ͘ϵйͿ ĂƐ ƚŚĞ ůůͲ^ŚĂƌĞ ŝŶĚĞǆ ƌŽƐĞ Ϭ͘ϭй ƚŽ ϰϭ͕ϴϭϰ͘ϳϰ ƉŽŝŶƚƐ͘ >ŝŬĞǁŝƐĞ͕ ŵĂƌͲ ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ ŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ŐĂŝŶĞĚ േϮϲ͘ϵďŶ ƚŽ േϮϭ͘ϴƚŶ ^ŚĂƌĞ ŝŶĚĞǆ ƌŽƐĞ ǁŚŝůĞ zd ƌĞƚƵƌŶ ďǇ ŝŵƉƌŽǀĞĚ ƚŽ ϯ͘ϴй͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ĂĚǀĂŶĐĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůͲ ϭϭďƉƐ ƚŽ ϯϵ͕ϱϱϬ͘ϯϲ ƉŽŝŶƚƐ͘ ŽŶƐĞƋƵĞŶƚůǇ͕ zd ůŽƐƐ ŝŵͲ ƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ϯϮ͘Ϯй ĂŶĚ Ϯϵ͘ϰй ƌĞƐƉĞĐƟǀĞůǇ ƚŽ ϲϳϰ͘ϱŵ ƵŶŝƚƐ

ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďǇ ĂŶĚ േϳ͘ϲďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďǇ ǀŽůƵŵĞ ǁĞƌĞ & E,

േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ǁĂƐ ŵŝǆĞĚ ĂƐ ǀŽůƵŵĞ ;ϯϱϬ͘ϱŵ ƵŶŝƚƐͿ͕ d/ ;ϰϱ͘ϲŵ ƵŶŝƚƐͿ͕ ĂŶĚ hE/s/E^hZ ;ϯϯ͘ϵŵ ƵŶŝƚƐͿ

ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďǇ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ǁŚŝůĞ & E, ;േϰ͘ϯďŶͿ͕ 'd K ;േϲϭϰ͘ϰŵͿ͕ ĂŶĚ d/ ;േϯϰϳ͘ϴŵͿ ůĞĚ

ƚƌĂĚĞĚ ƌŽƐĞ ďǇ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďǇ ǀĂůƵĞ͘ ďǇ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ

ƵŶŝƚƐͿ͕ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕ ƵůůŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďǇ ǀĂůƵĞ͘

WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁŝƚŚŝŶ ŽƵƌ ĐŽǀĞƌĂŐĞ ǁĂƐ ďƵůůŝƐŚ ĂƐ ϰ

ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ ǁŚŝůĞ Ϯ ŝŶĚŝĐĞƐ ůŽƐƚ͘ dŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ &ZͲ/ d ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ ϭ͘ϵй ĂŶĚ Ϭ͘ϲй ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ďƵǇŝŶŐ ŝŶƚĞƌĞƐƚ

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

ŝŶ D E^ Z ;нϲ͘ϱйͿ͕ D E &/d ;нϳ͘ϭйͿ͕ ĂŶĚ /Zd > & ;нϭ͘ϯйͿ͘

1 Airtel Africa PLC 2 BUA Cement Plc 3 Guaranty Trust Holding Co PLC 4 Zenith Bank PLC 5 Dangote Cement PLC 6 MTN Nigeria Communications PLC 7 Nestle Nigeria PLC 8 Lafarge Africa PLC 9 Access Bank PLC 10 United Bank for Africa PLC 11 FBN Holdings Plc 12 Nigerian Brew eries PLC 13 Stanbic IBTC Holdings PLC 14 International Brew eries PLC 15 Flour Mills of Nigeria PLC 16 SEPLAT Energy PLC 17 11 PLC 18 Okomu Oil Palm PLC 19 Fidelity Bank PLC 20 Ecobank Transnational Inc 21 Dangote Sugar Refinery PLC 22 FCMB Group Plc 23 Sterling Bank PLC 24 NASCON Allied Industries PLC 25 Transnational Corp of Nigeria 26 Presco PLC 27 Unilever Nigeria PLC

ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞǆ ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ĂƉŝĞĐĞ ĂƐ Ă ƌĞƐƵůƚ ŽĨ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ K E K ;нϭ͘ϬйͿ͕ dKd >

28 PZ Cussons Nigeria PLC 29 United Capital PLC

ŝŶĚĞǆ ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ ;нϭ͘ϯйͿ͕ hE/> s Z ;нϲ͘ϵйͿ͕ ĂŶĚ W ;нϵ͘ϯйͿ͘ KŶ ƚŚĞ ŇŝƉ ƐŝĚĞ͕ ƚŚĞ

30 Guinness Nigeria PLC 31 Custodian and Allied Insurance

Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ ĂŶŬŝŶŐ ĂŶĚ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚŝĐĞƐ ĚĞĐůŝŶĞĚ Ϭ͘Ϯй ĂŶĚ Ϭ͘ϭй ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůůͲŽīƐ ŝŶ ^d E / ;Ͳϰ͘ϵйͿ͕ E/d, ;ͲϬ͘ϰйͿ͕ ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ ĂŶĚ t W K ;Ͳϭ͘ϮйͿ͘ ϵ͘ϭйͿ͕ hE/> s Z

;Ͳϯ͘ϱйͿ͕

>/E< ^^hZ

;Ͳϲ͘ϰйͿ͕

ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďǇ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůůͲ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬ ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘

32 AIICO Insurance PLC 33 TotalEnergies Marketing Nigeri 34 Julius Berger Nigeria PLC 35 Wema Bank PLC

ĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ ϭ͘ϰǆ ĨƌŽŵ ϭ͘Ϯǆ ĂƐ Ϯϴ ƐƚŽĐŬƐ ĂĚͲ ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ T ic k er

ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘

ϵ͘ϱйͿ͕ WZ ^d/' ;Ͳϴ͘ϱйͿ͕ ĂŶĚ Z ' >/E^ ;Ͳϳ͘ϯйͿ ůĞĚ ƚŚĞ ůĂŐŐĂƌĚƐ͘

/Ŷ ƚŚĞ ƚŽĚĂǇ͛Ɛ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ƚŽ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ ƐƵƐƚĂŝŶ ŝƚƐ ďƵůůŝƐŚ ŵŽŵĞŶƚƵŵ ŝŶ ĞǆƉĞĐƚĂƟŽŶ ŽĨ ϵD͗ϮϬϮϭ ĞĂƌŶͲ ŝŶŐƐ ƌĞůĞĂƐĞƐ͘ /ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲǆ

ĨƌŽŵ ϭ͘ϯǆ ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ ŽƌƉŽƌĂƚĞ ŝƐĐůŽƐƵƌĞ

P/E

5.6x

P/BV

Divindend Earnings Yield Yield

77.1%

15.0%

3.5%

-8.4%

12.3%

4.4%

-6.9%

19.1%

11.2%

34.6x

6.5x

-11.6%

24.8%

3.9%

4.4x

1.1x

10.5%

22.9%

0.8x

5.2%

14.5%

29.8%

2.0% 2.9%

-0.4%

6.8%

0.4%

21.8%

2.9%

3.4x

0.7x

12.0%

0.0%

6.9%

14.3%

44.7%

17.5%

14.1x

6.1x

6.2%

7.1%

174.00

0.0%

5.0%

2.4%

143.0%

12.4%

14.0x

17.7x

6.0%

7.1%

1,405.00

0.0%

3.7%

-6.6%

143.5%

17.1%

27.3x

48.8x

4.3%

3.7%

24.70

-1.2%

3.9%

17.3%

9.9%

7.1%

11.1x

1.1x

4.0%

9.0%

9.45

-0.5%

3.2%

11.8%

18.3%

1.5%

2.5x

0.4x

9.0%

39.5%

8.35

-0.6%

2.6%

-3.5%

2.1x

0.4x

6.5%

47.6%

12.55

2.4%

4.3%

75.5%

10.6%

1.0%

5.9x

0.6x

3.5%

17.1%

51.45

0.0%

1.9%

-8.1%

5.6%

2.2%

43.1x

2.4x

1.9%

2.3%

39.00

-4.9%

2.1%

3.3%

15.4%

2.0%

9.0x

1.4x

10.5%

11.2%

-11.4%

-4.5%

4.85

0.0%

1.3%

-18.5%

29.40

1.0%

1.2%

13.1%

731.50

0.0%

1.9%

81.8%

0.9x

-13.2%

0.7x

5.7%

3.1%

1.7%

19.3x

0.6x

5.6%

5.2%

-100.0%

125.40

0.0%

1.1%

37.8%

37.4%

23.6%

9.3x

3.2x

5.6%

10.8%

2.73

1.1%

0.8%

8.3%

12.7%

1.2%

2.4x

0.3x

8.1%

42.2%

7.70

2.0%

0.9%

28.3%

1.5%

0.1%

25.5x

0.3x

18.00

0.0%

0.6%

2.3%

25.6%

12.1%

6.9x

1.6x

8.4%

14.4%

3.15

1.6%

0.5%

-5.4%

1.50

-2.0%

0.3%

-26.5%

8.9%

0.8%

3.8x

0.3x

3.3%

14.65

0.0%

0.4%

1.0%

20.7%

5.9%

14.6x

3.0x

2.7%

6.8%

1.02

0.0%

0.4%

13.3%

-1.3%

-0.3%

0.6x

1.0%

-2.1%

89.00

0.0%

0.3%

25.4%

2.2x

2.3%

15.50

6.9%

0.2%

11.5%

-1.3%

-0.8%

1.4x

6.45

9.3%

0.3%

21.7%

3.9%

4.8% 26.5%

-1.0% 3.9%

9.00

-2.2%

0.4%

91.1%

2.0x

7.8%

30.00

1.7%

0.3%

57.9%

1.7%

0.8%

52.0x

0.9x

1.5%

1.9%

8.00

0.0%

0.3%

36.8%

24.7%

7.5%

3.9x

0.9x

6.9%

25.4%

21.6%

3.3%

4.0x

0.4x

0.95

1.1%

0.2%

-15.9%

207.60

1.3%

0.3%

59.7%

25.00

0.0%

0.2%

41.9%

18.3%

2.4%

5.0x

8.7%

0.0%

0.1%

0.0%

1.0%

0.2%

36.5%

24.8%

6.6x

2.0%

15.1%

0.8x

1.6%

19.9% 23.5%

8.7%

11.7%

0.7%

4.3x

0.5x

5.3%

-100.0%

7.5%

0.9%

5.5x

0.6x

5.0%

36.5%

14.5%

2.6%

2.2x

0.3x

62.50

0.0%

0.1%

0.0%

-38.7%

-9.5%

52.95

0.0%

0.1%

-4.4%

12.8%

8.7%

5.97

0.0%

65.8%

2.1x 5.4x

18.1% 46.0% -21.2%

0.7x

2.0%

18.4%

1.0x T o p 10 T r a d e s b y V o l u m e

T o p 10 G a i n e r s

ǀĂŶĐĞĚ ƵƉ ĂŐĂŝŶƐƚ ϭ͘ϴй ϮϬ ĚĞĐůŝŶŝŶŐ ;нϵ͘ϯйͿ͕ D E &/d Ğƌ͕ ĚƌŝǀĞŶ ƐƚŽĐŬƐ͘ ďǇ W ƉƌŝĐĞ ĂƉƉƌĞĐŝĂͲ ;нϳ͘ϭйͿ͕ ĂŶĚ hE/> s Z ;нϲ͘ϵйͿ ůĞĚ ŐĂŝŶĞƌƐ ǁŚŝůĞ z ^ ;Ͳ

ROA

24.90

5.05

38 Notore Chemical Industries Ltd 39 Beta Glass PLC 40 Transcorp Hotels Plc

ROE

280.00

0.75

36 Union Bank of Nigeria PLC 37 Oando PLC

Price Change Index to Date

20.7%

0.0%

ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ dƌĂŝůŝŶŐ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ƌŽƐĞ Ϭ͘ϰй

Price Previous Current Change Price YTD Weighting Change

Current Price

P ric e

P ric e C hg %

T ic k er

Vo lum e

P ric e C hg %

6.45

9.3%

FB NH

350.5

2.4%

M B EN EF IT

0.30

7.1%

ET I

45.6

2.0%

UN ILEVER

15.50

6.9%

UN IVIN SUR E

33.9

0.0%

M A N SA R D

2.46

6.5%

T R A N SC OR P

32.6

0.0%

C UT IX

6.40

5.8%

GT C O

21.5

0.4%

NP FM CRFB K

1.85

5.7%

ST ER LN B A N K

20.5

-2.0%

R OYA LEX

0.56

5.7%

F ID ELIT YB K

18.8

1.1%

VER IT A SKA P

0.23

4.5%

A C C ESS

15.6

-0.5%

N EM

2.00

4.2%

UB A

13.8

-0.6%

1.10

3.8%

UC A P

9.4

-2.2%

IKEJ A H OT EL

ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ D zͲ hŶŝƚĞĚ ĂƉŝƚĂů WůĐ ϭϱ ŚĂƐ ƌĞƉŽƌƚĞĚůǇ ůĂƵŶĐŚĞĚ ƚŚĞ hŶŝƚĞĚ ĂƉŝƚĂů

T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s

< Z ;нϵ͘ϴйͿ͕ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ /ŶĨƌĂƐƚƌƵĐƚƵƌĞ &ƵŶĚ͕ ĂŶĚ Ă EĂŝƌĂͲĚĞŶŽŵŝŶĂƚĞĚ ĨƵŶĚ ĞƐƚĂďůŝƐŚĞĚ ƚŽ P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

A B B EYB D S

0.86

-9.5%

FB NH

4345.7

2.4%

ƚƵƌĞ ǁŚŝĐŚ ǁŽƵůĚ ďƌŝĚŐĞ ƚŚĞ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ĚĞĮĐŝƚƐ ŝŶ EŝŐĞƌŝĂ ĂŶĚ ^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ zĞƐƚĞƌĚĂǇ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ

P R EST IGE

0.43

-8.5%

GT C O

614.4

0.4%

ƐƵďͲ^ĂŚĂƌĂŶ ĨƌŝĐĂ͘ dŚĞ ŵŝǆĞĚ͕ ĨƵŶĚ ŚĂƐ ĚƵůǇ ƐĞĂƐŽŶ ƌĞŐŝƐƚĞƌĞĚ ďǇ ƚŚĞ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ĂƐ ďĞĞŶ ĞĂƌŶŝŶŐƐ ŐƌĂĚƵĂůůǇ

R EGA LIN S

0.38

-7.3%

ET I

347.8

2.0%

C ILEA SIN G

4.40

-6.4%

N EST LE

266.2

0.0%

-6.4%

T OT A L

251.7

1.3%

6.40

-5.9%

N GXGR OUP

189.6

-6.4%

39.00

-4.9%

Z EN IT H B A N K

181.9

-0.4%

-4.3%

M TNN

149.6

0.0%

148.0

-0.5%

130.8

1.3%

T ic k er

ƉƌŽǀŝĚĞ ůŽŶŐ ƚĞƌŵ ĮŶĂŶĐŝŶŐ ĨŽƌ ƚŚĞ ĚĞůŝǀĞƌǇ ŽĨ ĐƌŝƟĐĂů ŝŶĨƌĂƐƚƌƵĐͲ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ

^ĞĐƵƌŝƟĞƐ ĂŶĚ ǆĐŚĂŶŐĞ ŽŵŵŝƐƐŝŽŶ ĂƐ Ă ĐůŽƐĞ ĞŶĚĞĚ ĨƵŶĚ ǁŝƚŚ

ǁŝŶĚƐ ƵƉ͘

Ă േϭϱϬ͘ϬďŶ ŝƐƐƵĂŶĐĞ ƉƌŽŐƌĂŵ͘

N GXGR OUP A F R IP R UD ST A N B IC

CHA M S

20.60

0.22

UC A P

9.00

-2.2%

A C C ESS

F T N C OC OA

0.48

-2.0%

A IR T ELA F R I

T H I S D AY ˾ ˜ Ͱʹ˜ ͰͮͰͯ

BUSINESS/MONEYGUIDE

Africa Urged to Close Science, Technology Gap to Take Advantage of AfCFTA Emma Okonji

Former President of Mauritius and Laureate of the 2007 L’OréalUNESCO Prize for Women in Science, Professor Ameenah Gurib-Fakim, has called on African leaders to close the existing gap in Science and technology across Africa, in order to take full advantage of the African Continental Free Trade Area (AfCFTA). Gurib-Fakim gave the advice while delivering a keynote address at the African ExportImport Bank’s (Afreximbank) fifth annual Babacar Ndiaye Lecture, with the theme: “The Importance of Science, Technology and Innovation in the Transformation of African Economies.” She called on African leaders to close the region’s science and technology gap to take full advantage of AfCFTA. In her speech, she laid bare a raft of statistics that showed that Africa is falling well behind

the rest of the world in science, technology, and innovation (STI). According to her, only 0.1 per cent of all patent applications are registered in Africa, compared to 65 per cent in Asia and 25 per cent in North America. Africa is also responsible for only two per cent of the world’s research output and one per cent of research spending. Furthermore, the laggards in Africa have 11 researchers per million people whilst the best performing countries in the world, such as South Korea and Denmark had between 7,000-8,000 scientists and researchers per million people. “How can a continent with the largest share of arable land, a continent with the youngest population, a continent that has fueled all of the world’s industrial revolution, a continent that has helped drive the mobile phone industry, a continent that is at the cusp of supporting the world’s energy transition to greener

technology with a large store of rare earth deposits accept such dismal statistics,” she asked. She blamed “chronic neglect”, the statistics demonstrating that the chronic deficit of researchers and scientists has undoubtedly contributed to the poverty trap that the continent finds itself in. “The deficit of investment in science and technology and absence of economic and scientific infrastructure has undermined the process of economic transformation both at the structural level and at the sectoral level. The consequences of that deficit have been significant and include continued reliance on the colonial model of resource extraction largely responsible for the debilitating poverty trap and aid dependence trap,” Gurib-Fakim said. The former President remarked that Africa’s failure to advance in science and technology has been compounded by the fragmentation of its markets.

MARKET INDICATORS

Bauchi Farmers Parner NCX for Enhanced Commodity Sales As part of efforts towards reducing post harvest loss and enhancing commodity sales, the Nigeria Commodities Exchange (NCX), has partnered farmers in Bauchi State. The partnership is between NCX; a commodity exchange platform under the Federal Ministry of Industry and Investment and farmer groups and cooperatives in the state. This was made known by the Managing Director, NCX, Mrs. Zaheera Baba-Ari, at a Capacity Building workshop for stakeholders in the Commodity Exchange value chain in Bauchi state. Baba-Ari noted that the platform provides the state’s domestic and international consumers access to millions of tons of major commercially viable agro-commodities; such as sesame seed, shea nut, maize, sorghum, paddy rice, groundnut,

coffee, cassava, yams, cotton and livestock available in the state. “NCX has since opened discussions aimed at creating a technical partnership with farmer groups and cooperatives in the state through the auspices of the state ministry of Commerce and Industry to encourage farmers to dispose their yields through the Exchange’s Trading Floors. “Several meetings have been held in this regard and it is hoped that the proposed partnership would kick off in the coming harvest season. It is envisaged that the proposed technical partnership being facilitated by the state government will avail domestic and international consumers’ access to millions of tons of major agro-commodities that are available in the state. “In recognition of these facts,

NCX had established two Delivery Warehouses in the state and thus enjoined commodity traders and consumers to patronize its trading floors as it was well positioned to give them the many benefits of an efficient and cost-effective commodity trading platform,” She stressed. According to her, “Similar partnership have been held in the past in several other states across the country including FCT, Ogun, Benue, Kogi, Borno, Plateau, Anambra and Gombe, as part of the agency’s efforts, aimed at achieving a boost in trade and investment, following a presidential mandate issued earlier this month to relevant government agencies directing all to jointly work towards addressing the high food prices and market fluctuations.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

PZ Cussons Nigeria Reports N1.7nbn Proﬁt in 2021 FY

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Darasimi Adebisi

Reserve Money (Base Money

13,264,585.14

PZ Cussons Nigeria Plc has migrated from N7.21billion loss in 2020 financial year to N1.69billion in full year ended May 31, 2021. The company’s made available by the Nigerian Exchange Limited (NGX) revealed that it recorded N3.44billion profit before tax in 2021 financial year from N7.94billion loss before tax reported in 2020. The growth in profits was driven significant increase in revenue and non-core business income as the household company reduced interest expenses on loans in banks. As gathered, revenue rose by

23 per cent to N82.588billion in 2021 from N66.99billion in 2020, while non-core business income closed 2021 at N2.08billion as against N179.14million recorded in 2020. The breakdown of revenue revealed that Home and personal care products grew by 22.8 per cent to N47.83billion in 2021 from N38.94billion in 2020, while Durable electrical appliances closed 2021 at N34.7 billion in 2021, a 24per cent growth from N28.05billion in 2020. Notably, the Group reported N5.95billion exchange loss in 2021 from N945.86million in 2020. PZ Cussons Nigeria’s total assets rose by 12 per cent to N87.34billion in 2021 from

N78.03billion in 2020,while total equity closed 2021 at N34.6billion in 2021 , an increase of four per cent from N33.26billion in 2020. The company in the financial statement proposed a final dividend of 25 kobo per share. According to the company: “a final dividend in respect of the year ended May 31, 2021 of 25 kobo per share amounting to a total dividend of N992.6 million was declared at the board meeting held on October 20, 2021.” The group and company are controlled by PZ Cussons (Holdings) Limited, incorporated in the UK, which owns 73.27 per cent (2020: 73.27 per cent) of the group and company’s shares.

Firm Advocates Culinary Ethics with Family Bond Determined to promote culinary creativity and deepen family bonding among its consumers, Devon King’s, a brand of PZ Wilmar Limited, has called for entry in the King’s Dorm season 2, which is expected to kick start next month. The Season two of the annual program, according to the organizer, will see interested families create a short video of about 60 seconds of their bonding moment with #DevonKingsDorm on social media. After the first stage of the

activities, 12 of the entries will be selected for the opening phase of the reality cooking competition. Four out of the 12 participating families will make it to the semifinals and the best two families move to the final stage of King’s Dorm season 2 to be hosted by Oluwatoyin Abraham Ajeyemi, with Miyonse Amosu, serving as the celebrity judge. The Managing Director PZ Wilmar Ltd, Ipsit Chakrarti, explained that Devon King’s brand is championing the moment of bonding for families leveraging King’s Dorm as a

vehicle to deliver the initiative. According to him, “food plays a vital role in our coming together, which is why the brand decides to take the initiative a step further. “Aside showing consumers different delicacies and how to prepare them, King’s Dorm will focus on how to bring families together and how it can make the moment of bonding more fun and memorable for consumers. “That’s why we are taking this season two to the next level, which is to celebrate family ties and also make the bond between families stronger,” he asserted.

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE ˜ ͵

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ ˜ Ͱʹ˜ ͰͮͰͯ

Trading Commence on Positive Note as Airtel Africa, Total Nigeria, 25 Others Soar Darasimi Adebisi Transactions on the stock market of the Nigerian Exchange Limited (NGX) yesterday commenced on a positive note as large and medium capitalised stocks appreciated. The market positive performance was driven by price appreciation in Airtel Africa Pl, Total Nigeria Plc, Unilever Nigeria Plc, PZ Cussons Nigeria Plc, and Guinness Nigeria Plc. The NGX All-Share Index

(ASI) grew by 51.48 basis points, representing a rise of 0.12 per cent, to close at 41,814.74 basis points from 41,763.26 basis points it opened for the week. Similarly, the overall market capitalisation value gained N27 billion to close at N21.821 trillion from N21.79 trillion it closed last week. Furthermore, the market breadth closed positive, recording 28 gainers against 20 losers. PZ Cussons Nigeria recorded the highest price gain of 9.32 per

P R I C E S MAIN BOARD

F O R DEALS

cent to close at N6.45, per share. Mutual Benefits Assurance followed with a gain of 7.14 per cent to close at 30 kobo and Unilever Nigeria went up 6.90 per cent to close at N15.50, per share. AXA Mansard Insurance up by 6.49 per cent to close at N2.46, while Cutix appreciated by 5.79 per cent to close at N6.40, per share. On the other hand, Abbey Mortgage Bank led the losers’ chart by 9.47 per cent to close at 86 kobo, per share.

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

Prestige Assurance followed with a decline of 8.55 per cent to close at 43 kobo, while Regency Alliance Insurance declined by 7.32 per cent to close at 38 kobo, per share. CI Leasing declined by 6.38 per cent to close at N4.40, while Nigerian Exchange Group (NGXGroup) shed 6.36 per cent to close at N20.60, per share. Also, the total volume of trades rose by 32.21 per cent to 674.499 million units, valued at N7.592 billion, and exchanged in 5,432

T R A D E D MAIN BOARD

A S

deals. Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 350.542 million shares valued at N4.346 billion. Ecobank Transnational Incorporated (ETI) followed with 45.643 million shares worth N347.799 million, while Universal Insurance traded 33.915 million shares valued at N6.783 million. Transnational Corporation of Nigeria (Transcorp) traded 32.577 million shares valued at N33.205 million, while Guaranty

O F

Trust Holding Company (GTCO) transacted 21.476 million shares worth N614.370 million. Analysts at United Capital Plc expressed that the third quarter (Q3), 2021 earnings season to pick up pace. They added that: “We remain upbeat about market performance and investor sentiment as we expect market participants to continue cherrypicking fundamentally sound stocks, while also positioning for full year, 2021 dividends.”

2 5 / 1 0 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

TUESDAY OCTOBER 26, 2021• T H I S DAY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 22Oct-2021, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 164.23 165.68 1.46% Afrinvest Plutus Fund 100.00 100.00 7.89% Nigeria International Debt Fund 316.36 316.36 -15.98% Afrinvest Dollar Fund 105.90 106.95 -4.32% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 9.93% AIICO Balanced Fund 3.30 3.36 -4.30% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 8.60% Anchoria Equity Fund 141.15 142.94 6.12% info@anchoriaam.com Anchoria Fixed Income Fund 1.13 1.13 -14.80% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 20.60 21.22 13.58% ARM Discovery Balanced Fund 449.23 462.78 12.20% ARM Ethical Fund 39.47 40.66 17.10% ARM Eurobond Fund ($) 1.08 1.09 -1.03% ARM Fixed Income Fund 0.98 0.99 -6.00% ARM Money Market Fund 1.00 1.00 8.27% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 106.89 106.89 5.09% AVA GAM Fixed Income Naira Fund 1,045.29 1,045.29 4.53% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.07 2.07 -4.89% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.22 2.27 3.34% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.03 1.03 4.05% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.20% Paramount Equity Fund 17.34 17.66 8.43% Women's Investment Fund 141.35 143.01 6.22% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.46% Cordros Milestone Fund 2023 123.86 124.70 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 109.28 109.28 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 7.38% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 8.07% EDC Nigeria Fixed Income Fund 1,168.42 1,188.77 1.55% assetmanagement@emergingafricafroup. EMERGING AFRICA ASSET MANAGEMENT LIMITED Web:www.emergingafricagroup.com/emerging-africa-assetmanagement-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.00% Emerging Africa Bond Fund 1.03 1.03 2.44% Emerging Africa Balanced Diversity Fund 1.13 Emerging Africa Eurobond Fund 103.91 FBNQUEST ASSET MANAGEMENT LTD Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price FBN Bond Fund N/A FBN Balanced Fund 197.56 FBN Halal Fund 113.78 FBN Money Market Fund 100.00 FBN Dollar Fund (Retail) FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund

127.36 172.92

1.13 12.69% 103.91 3.86% invest@fbnquest.com Offer Price N/A 198.92 113.78 100.00

Yield / T-Rtn N/A 5.26% 9.32% 9.02%

127.36 4.05% 175.19 14.38% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.98 1.71

Offer Price 1.00 3.98 1.75

Yield / T-Rtn 6.62% 2.94% 12.51%

1.19

5.04%

FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund N/A N/A N/A Coral Income Fund N/A N/A N/A Coral Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 7.48% Vantage Balanced Fund 2.89 2.95 1.08% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 154.24 154.52 -0.81% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.32 1.41% Vantage Dollar Fund (VDF) - June Year End 1.06 1.06 3.60% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.47 1.49 7.64% Lotus Halal Fixed Income Fund 1,141.84 1,141.84 7.08% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.08 12.18 15.59% Meristem Money Market Fund 10.00 10.00 10.32% enquiries@norrenberger.com NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) N/A N/A N/A Norrenberger Money Market Fund (NMMF) N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.56 1.59 13.31% PACAM Fixed Income Fund 11.19 11.20 -7.91% PACAM Money Market Fund 10.00 10.00 6.62% PACAM Equity Fund 1.46 1.48 -7.43% PACAM EuroBond Fund 112.41 114.48 2.43% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 135.23 139.58 10.38% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.07 1.07 10.10% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,399.06 3,434.98 5.83% Stanbic IBTC Bond Fund 234.02 234.02 4.08% Stanbic IBTC Ethical Fund 1.28 1.30 9.32% Stanbic IBTC Guaranteed Investment Fund 309.42 309.42 5.01% Stanbic IBTC Iman Fund 236.59 240.19 8.42% Stanbic IBTC Money Market Fund 100.00 100.00 7.45% Stanbic IBTC Nigerian Equity Fund 11,060.51 11,220.11 5.41% Stanbic IBTC Dollar Fund (USD) 1.28 1.28 4.40% Stanbic IBTC Shariah Fixed Income Fund 116.11 116.11 4.53% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 104.74 104.74 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.34 1.37 5.00% United Capital Bond Fund 1.93 1.93 5.44% United Capital Equity Fund 0.92 0.95 15.79% United Capital Money Market Fund 1.00 1.00 8.82% United Capital Eurobond Fund 121.04 121.04 5.73% United Capital Wealth for Women Fund 1.09 1.11 6.83% United capital Sukuk Fund 1.07 1.07 6.62% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.16 13.28 10.90% Zenith ESG Impact Fund 14.75 14.91 20.89% Zenith Income Fund 24.57 24.57 2.42% Zenith Money Market Fund 1.00 1.00 5.93%

REITS NAV Per Share

Yield / T-Rtn

124.98 53.90

10.62% 6.67%

Bid Price

Offer Price

Yield / T-Rtn

13.96 131.72 103.25 17.87 21.91

14.06 134.99 105.51 17.97 22.01

5.56% 9.54% 4.07%

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.96 5.56 17.81 1.00 21.57 157.00

4.06 5.66 18.01 1.00 21.77 159.00

5.49% -2.09% 9.96% 6.59% 5.08% -15.39%

NAV Per Share

Yield / T-Rtn

107.28

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

TUESDAY OCTOBER 26, 2021 ˾ T H I S D AY

NEWS

Bandits Kill Worshipers, Abduct Seven in Niger Laleye Dipo in Minna The Police Command in Niger said gunmen had killed an unspecified number of people while observing early morning prayers at a Mosque at Mazakuka village in Mashegu Local Government Area of the state. The Commissioner of Police in the state, Mr. Monday Kuryas, who confirmed the development yesterday, noted that the hoodlums also abducted seven other worshipers at the mosque. Kuryas said the incident occurred on October 25 at about 0530 hours when the gunmen attacked the village. He said the gunmen later destroyed property worth millions of Naira belonging to one Alhaji Abubakar Maigandus in the village. He said security personnel, however, shot dead one of the bandits. According to the commissioner, the incident was understood to be a reprisal attack resulting from a long standing communal feud. He said that already additional

armed security personnel had since been deployed to the area to ensure the arrest of the gunmen and all other miscreants

undermining the peaceful coexistence among residents. He urged the residents, especially those in the rural areas

of the state, to come forward with reliable information that could aid the personnel deployed across the state to ensure the

arrest and prosecution of all those involved in criminal acts. ”We are battle-ready to confront any form of criminal elements

as long as good residents will volunteer credible information on movement of dubious characters in their midst,” he said.

AWESOME WOMEN’S NETWORK…

L-R: Operations Director, Seplat Energy Plc, Mr. Eﬃong Okon; Independent Non-Executive Director, Ms. Arunma Oteh; Chief Executive Oﬃcer and Sponsor of the Seplat Gender Diversity Programme; Roger Brown; Director, Legal Services/Company Secretary, and the Gender Diversity Champion, Mrs. Edith Onwuchekwa, and Managing Director, Helko Nigeria Limited, Mrs. Henrietta Orjiako, at the launch of the Seplat Awesome Women’s Network initiative in Lagos…recently

Gunmen Release Students Hire Thugs to Attack Teachers in Ogun Five Kidnapped Commuters in Ekiti

Victor Ogunje in Ado Ekiti

The Ekiti State Police Command has announced that five commuters kidnapped last week along Ayedun-IlasaAyebode Road in Ikole Local Government Area of the state have regained freedom. They were said to have been released on Sunday and no one could confirm whether ransom was paid or not. The victims were kidnapped last week Thursday at various locations in Ilasa and Ayebode during coordinated attacks by bandits terrorising that axis in recent time.

Before the abductees were seized by gunmen, the bandits had engaged the soldiers, who were called by motorists who escaped into the bush in gun duel, causing sporadic gunshots that rented the air. Apart from the five persons that were arrested, two other persons were said to have been hit by bullets and sustained bodily injuries during the shootout. Confirming the release in a telephone chat yesterday, the Police Public Relations Officer, Mr. Sunday Abutu, said: “All the kidnap victims, five in all, have regained their freedom.

Police Arrest Suspected Armed Robber, Cultist in Delta The Police Command in Delta has apprehended a suspected armed robber in possession of 60 rounds of AK-47 live ammunition in the state. The command’s Police Public Relations Officer (PPRO), DSP Bright Edafe, disclosed this in a statement made available to newsmen on Monday in Warri. Edafe identified the suspect as Patrick Anthony, explaining that he was nabbed on October 21 by the Dragon Patrol Team

29 of the command. He said that the police operatives were on a stopand-search duty on the Warri-Sapele expressway when they intercepted a commercial vehicle that the suspect was traveling with. “Upon search of the vehicle and the occupants, 60 rounds of 7.62mm AK-47 live ammunition concealed inside a pair of canvas shoes were recovered from Anthony,” he said.

There was pandemonium yesterday when students of Community High School, Ijoun, in Yewa North Local Government Area of Ogun State, allegedly hired suspected thugs to attack and send their teachers away from the school. The incident came barely a week after a similar incident occurred at Unity High School,

Kajola, Ibooro, in the same local government. It was also gathered that similar incident recently happened at a school in Abeokuta, the state capital. The hoodlums, were reported to have stormed the schools with dangerous weapons, and thereafter inflicted varying degrees of injury on some

teachers. It was gathered that the attackers invaded the school at about 10:45am yesterday and freely used weapons such as machetes and axes on Messers Stephen Oyelekan and Kayode Olatunji, before fleeing from the scene. The matter was said to have been reported at the Eegua

Police Station while the victims had been taken to hospital for treatment. Also, the principals of Junior and Senior Secondary Schools, Mr. Sowunmi and Kayode Amusa respectively, were said to have informed the Adele of Ijoun Community, Chief Olaleye Emmanuel, and the head of the Amotekun in the community.

Our National Conventional will Hold as Planned, PDP Insists Chuks OkochainAbuja Ahead of today’s sitting of the Court of Appeal to hear the restraining order against the October 30 and 31 national convention of the Peoples Democratic Party (PDP), the party leadership, yesterday, said nothing would stop the convention from holding as planned. Addressing a pressing conference at its National Secretariat, outgoing National Publicity Secretary, Kola Ologbondiyan, said preparations for the convention were in place, and that as far as the party was

concerned, the date for the convention remained October 30 to 31st, and remained sacrosanct. According to Ologbondiyan, “As we speak, we read reports in so many media space that there are issues and that only three governors are working, that national convention committee are not meeting and the National Working Committee members are not in their offices. “That is totally and absolutely incorrect, and some of your colleagues went upstairs into the National Committee Hall,

to meet with members of the National Working Committee, who are taking their respective seats, and they are deliberating on the success of the forthcoming national convention. “So, I want to bring to the attention of my dear colleagues, that the national convention organising committees leadership is in town, and these are the chairman, the Governor of Adamawa State, Mr. Umaru Fintiri; the Deputy Chairman, Governor Diri Duoye, the Governor of Bayelsa State, as well as the governor of Oyo State,

Seyi Makinde, who is the Secretary of the committee, that the three of them, are in Abuja to oversight, the convention process. “While all the respective subcommittees are working and that’s why I’m briefing you now because I’m the Secretary of the publicity subcommittee, so all the committees are working at about 15 sub-committees for the purpose of the convention, and they’re all working, and the leadership of the convention committee as well are in town, and they’re all working,” Ologbondiyan stated.

APC Guber Candidate, Uba Laments Poor State of Roads in Anambra David-Chyddy Eleke inAwka Governorship candidate of the All Progressives Congress (APC), Senator Andy Uba, has lamented the poor state of roads in Anambra State. Uba said the state with its poor condition of roads has departed from its glory days of good connectivity in road network across the 21 local government areas. Uba, who spoke on Sunday in

Ojoto and Ogidi in Idemili North Local Government Area of the state during a campaign tour, said that the culture of poor quality road construction across the state, as done by the present All Progressives Grand Alliance(APGA) has cost the state huge losses in funds. He said funds which ought to be channelled to other sectors, would now be used to rehabilitate roads now derisively refer to as “Obiano Roads” that do not last beyond

one raining season. He said: “For us to get to Ojoto and Ogidi in Idemili South and Idemili North Local Government Areas, respectively, we had to traverse several communities - all sitting on good roads built around 15 years ago by Ngige. “But since we flagged off our local government campaigns in Onitsha North and South federal constituency, to Anambra East and West, Oyi and Ayamelum, it has

been one hellish movement after another, leaving one wondering where and where Governor Obiano’s bogus road construction projects are. “This APGA government has, in fact, frittered away the resources of the state. When they construct low quality roads across the state, they transfer the burden to the taxpayers who have to pay twice, or more, for the same road over a short span of time.”

Mohammed gave the warning yesterday at the new Banquet Hall, Government House, when he presided over an extraordinary stakeholders meeting, which centred on security and local government administration in the state. He said the state in recent times had been experiencing a surge in the activities of miscreants and bandits in some of the local government areas of the state,

leading to abductions, as well as loss of lives and properties. He reiterated that the insecurity in the state was becoming very worrisome as a majority of the population of the state live in the rural areas, pointing out also that if insecurity continued to thrives in the rural areas, it would definitely pose a threat to the state. “The chairmen of the local governments are the chief

executives of their respective local governments. This insecurity, it would appear, we have told them to be holding weekly meetings with their security agencies in their local governments, but they are not doing that and if they are not doing that, it has not been brought to my knowledge. I said that when I met with you, that I have been meeting with security agencies in the security council, you should also do that.

Ooni: What Buhari Told Me About Sunday Igboho Bauchi Warns LG Bosses against Connivance with Bandits

The Ooni of Ife, Oba Adeyeye Ogunwusi Ojaja II, has regretted the detention of Yoruba Nation agitator, Sunday Adeyemo aka Sunday Igboho, in Benin Republic. In an interview with BBC, the monarch said the agitator rejected advice offered him by monarchs sent to dialogue with him. According to Ooni, when he met the President Muhammadu Buhari over

Sunday Igboho, Buhari was informed of the reasons for Igboho’s agitation. In his reaction, Buhari was said to have said Igboho needs to be “calm and patient”. The president also asked monarchs in the South-west to advise Igboho against moves that are lawless. The monarch, who said Igboho has a just cause to fight, said he should have been more diplomatic.

Segun Awofadeji in Bauchi The Bauchi State Governor, Senator Bala Mohammed, has read riot Acts to local government chairmen in the state over the deteriorating security situation in their domains, saying any connivance of local government officials with bandits to shortchange the people of the state would be met with dire consequences.

TUESDAY OCTOBER 26, 2021 ˾ T H I S D AY

NEWS XTRA

Only 1 % of JAMB Applicants Choose Polytechnics, Says ASUP Onyebuchi Ezigbo in Abuja The leadership of the Academic Staff Union of Polytechnic (ASUP) has lamented the neglect of Nigeria’s polytechnic institutions which it said has led to low patronage by students seeking admission into higher institutions. Speaking at a media briefing in Abuja yesterday, held as part of the activities during the advocacy roundtable on the future of Nigeria’s Polytechnic system, ASUP President, Mr. Anderson Ezeibe disclosed that only one per cent of candidates in the Joint Admission and Matriculation’s (JAMB) Unified Tertiary Matriculation Examinations apply for polytechnics.

He argued that some of government’s policies and pronouncements had helped to de-market the polytechnic system in the country. He said the country’s National Policy on Education recognises polytechnic institutions as a key platform for promotion of technical and vocational education, noting however, that the noble objective had not received necessary support it deserved. “The low appetite for polytechnics today is evidenced by the one per cent approximate applicant figures for polytechnics in the Unified Tertiary Matriculation Examinations in the last five years as young Nigerians continue to show their preference for the other tiers

of tertiary education in the country,” he said. With 38 and 49 of the polytechnics currently under the proprietorship of the federal and state governments respectively; and an additional 65 run as private polytechnics, Ezeibe said one could hardly feel any sense of mandate fulfilment in the sector. Responding to questions from journalists, the ASUP President said: “The highest level of certification permissible for Nigerian polytechnics as we speak, is the Higher National Diploma (HND). And we all know what those who have these particular certificates have been subjected to in the public and private sectors of the economy.

Four Killed, Three Injured in Kaduna Communal Clash John Shiklam in Kaduna

Four people were yesterday killed while three others were injured in a clash been locals and herdsmen in Jankasa, Zangon Kataf Local Government Area of Kaduna State. Commissioner for Internal Security and Home Affairs, Mr. Samuel Aruwan, disclosed this in a statement on Monday. But the Chairman of the

Kaduna State chapter of the Christian Association of Nigeria (CAN), Rev. Joseph Hayab, has lamented that the security measures put in place to check the activities of bandits seemed to have little or no impact as the criminals have continued to unleash terror on communities. Speaking on the Jankasa clash, Aruwan said it was reported to the state government by military and police authorities.

“The clash occurred along some cattle routes in the area, and then escalated into a firefight between the two groups, before security forces arrived to bring the situation under control,”he said. He identified the four people confirmed killed as Luka Nelson, Timothy Koni, Pasi Peter and George Frances, while those who sustained injuries were Daniel Dauda, Extra James and Henry Frances.

Dikio: Substance Abuse Can Fuel New Wave of Militancy in N’Delta Julius Osahon in Yenagoa The Interim Administrator, Presidential Amnesty Programme (PAP), Col. Milland Dixon Dikio (retd), has said substance abuse among youths in the Niger Delta was capable of fueling a new wave of militancy in the region. Dikio, who spoke, when he paid a visit to the Chairman of the National Drug Law Enforcement Agency (NDLEA), Brig-Gen. Muhammad Buba

Marwa (rtd), in Abuja, said urgent steps should be taken to curb such abuse. Dikio, in a statement by his Special Adviser on Media, Mr. Nneotaobase Egbe, said the partnership between NDLEA and PAP would drastically reduce cases of drug abuse and reposition the minds of the youths for more productive ventures to sustain the peace and development in the region. He said, “We have a unique challenge in the Presidential

Amnesty Programme (PAP), that of managing ex-militants. We call them ex-agitators. We want to take active measures to not only manage the present ex-agitators, but to pre-empt and stop the pipeline that leads to deviant behaviour and militancy. “It goes without saying that some of these people get their motivation by using or abusing substances, so, we want to key into what you are doing on the arrest side and learn what we can do on the prevention side”.

Woman Inflicts Injuries on Girl over Alleged Theft James Sowole in Abeokuta

Operatives of Ogun State Command of Nigeria Police, have arrested a 31 year old woman, Ms. Shade Adelowo, for using razor blades to inflict serious injuries all over the body of one Kehinde Ojo, an 11 year old boy. Ojo, according to a statement by the Police Public Relations Officer (PPRO) for the command, Mr. Abimbola Oyeyemi, is a son of the suspect neighbour.

The woman was alleged to have inflicted the injuries on the boy over an allegation that the young boy stole the sum of N3000 from her purse. The statement added that the suspect, a mother of two who reside at Giwa Oke Aro area of Agbado, was arrested following a report lodged at Agbado Divisional Headquarters by the victim’s mother, who reported that the suspect accused her son who used to stay with her whenever she is not around of stolen the sum

of N3000. Upon the report, the Divisional Police Officer, Agbado, Division, Mr. Kehinde Kuranga, detailed his detectives to the scene where the suspect was promptly arrested. The statement said: “On interrogation, she claimed that the victim who used to stay with her whenever his mother is not around stole N3000 from her purse, and that she didn’t know what come over her that made her to inflict such grievous injuries on the boy.

People’s Need Should Drive Infrastructural Devt, Says Ozigbo The Peoples Democratic Party(PDP) candidate for the forth-coming gubernatorial election in Anambra State, Mr. Valentine Ozigbo, has described the state of infrastructure in Anambra as “pitiable and below expectations.” In a statement made available to newsmen, Ozigbo said that his interest in Anambra State,

coupled with the ongoing electioneering had taken him to virtually all the parts of the state. According to him, in each place he visited he could at once, with the ‘eyes of a development expert’, see what the need of the people are, which, he said, were sadly not attended to by the APGA government.

Ozigbo, for example, asked why the Atani-OsammalaOgwuikpere road is still at the point where Mr. Peter Obi stopped in spite of the fact that what the people along that area needed most was road infrastructure that would enable easy evacuation of their farm produce from the hinterland to Onitsha.

TUESDAY OCTOBER 26, 2021 ˾ T H I S D AY

NEWS XTRA

Embrace Judicial Activism, Wike Charges Lawyers Blessing Ibunge in Port Harcourt Rivers State Governor, Mr. Nyesom Wike, has charged Nigerian lawyers to engage in judicial activism as a deliberate measure to addressing the slow dispensation of justice and attempts to stifle the rights of the citizenry. This as the Chief Justice of Nigeria, Hon. Justice Ibrahim Tanko Muhammad, has noted that the peace of the country rest on the balance of the scale of justice. Bishop of the Catholic Diocese of Sokoto, Most Rev. Matthew Hassan Kukuh, stressed that presently Nigerians are suffering from identity crisis. Wike gave the charge yesterday at the 61st Annual General Conference of the Nigerian Bar Association (NBA) Conference, held in Port Harcourt. He said that no excellence could be achieved in the nation’s judicial system when judges lack the courage to enforce the law with equal measure because they are constantly under some form of political intimidation or pressure to please vested interests. The governor wondered why the NBA has continued to focus less on promoting and fighting for the values of good

governance, democracy, judicial independence, human rights and the rule of law when there is urgent need for them to do so. He said: “Never in our political history has Nigeria been so badly governed and denied of good governance with the federal government woefully failing in its basic duties to provide for the wellbeing and security of its own citizens as

we have experienced in the last six years. “On a daily basis the economic, social and political rights, including the rights to personal security, freedom of speech, association, dissent and peaceful protests, as well as the right to personal liberty are being violated with impunity by the present central administration and its security

apparatus. “The invasion on personal liberty has been brazen and indiscriminate, such that even judges of the superior courts, including Supreme Court justices, have in the recent past been victims of midnight assaults on their premises and subjection to unlawful arrests and imprisonments. “Lately, the new devious

trend is to tag security risks to innocent Nigerians and opposition elements and use the immigration authority to seize their international passports without a prior court order.” Wike said it is not enough for the federal government to issue Executive Order 10 and do nothing more pragmatic about resourcing the judiciary to the fullest possible extent, including

enhanced judicial welfare and conditions of service. He emphasized the need to seek judicial interpretation of the Executive Order 10, saying that in itself, it is an oppressive erosion of the powers and autonomy of the sub-national governments to administer their own judicial budgets in line with prevailing economic indices.

CSR IN ACTION…

Director, Maritime Safety and Seafarers Standard, Nigerian Maritime Administration and Safety Agency (NIMASA), Mr. Olu Aladenusi (left) and Ondo State Deputy Governor, Hon. Lucky Orimisan Aiyedatiwa during the presentation of relief materials to Ondo State by NIMASA in Akure...recently

Abductors of Two Children in Akeredolu Hails NIMASA’s Support for the Needy delivery of items donated by “We have been engaging by NIMASA would go a long Ondo Demand N10m as Ransom Fidelis David in Akure NIMASA in aid of the indigent with each other and it has been way in attracting investors

Fidelis DavidinAkure

The abductors of two pupils in front of their residence in Akure, the Ondo State capital, have demanded a ransom of N10 million. THISDAY had reported that some men suspected to be gunmen on Friday evening attacked a middle-aged woman (name withheld), when she stepped down to open the gate to their residence, and snatched her car and went away with kids inside the car at Leo area, in Akure South Local Government Area of the state.

Family sources said the kidnappers are yet to reduce the ransom four days after the ugly incident. The Ondo Police Public Relations Officer (PPRO), Ms. Fumilayo Odunlami, said “the woman’s vehicle was recovered along Ado road but the anti kidnapping session is working on rescuing the kids.” Odunlami said that “another car with three occupants suddenly drove up to her. Some of the occupants collected her car keys and drove her car away with the kids inside.”

2023: Abiodun Warns Monarchs to Watchful When Relating with Politicians James Sowole in Abeokuta Ogun State Governor, Dapo Abiodun, has warned traditional rulers to be watchful of their utterances, when relating with polticians and shun associations capable of causing violencein the political atmosphere of the state. The governor gave the warning in Abeokuta, the state capital while speaking at the inauguration of the Akarigbo, Paramount Ruler of Remoland, Oba Babatunde Adewale Ajayi, as the new chairman of the Council of Obas in the state. Abiodun warned that the

government, would not tolerate any act capable of undermining peace and disturbing the political serene of the state. He admonished the monarch to remember that their revered stools were meant to sustain the political and socio-economic developments of the state. He warned them not to allow any politician to cajole them into actions that could to endanger a peaceful political atmosphere in the state and advised them to set objective template on conferment of chieftaincy tittles and avoid acts capable of bringing their revered institution to disrepute.

Man Jailed Three Months for Employment Scam in Borno MichaelOlugbodeinMaiduguri The Maiduguri High Court has sentenced one Mr. Nuhu Lawan to three months imprisonment over employment scam. A statement issued yesterday by the Economic and Financial Crimes Commission (EFCC) said that it has secured “the conviction and sentencing of one Nuhu Mohammed Lawan to three months imprisonment before Justice Aisha Kumaliya of the Borno State High Court, Maiduguri for his involvement in a N1.1million

employment scam.” The statement revealed that the convict, who is a staff of the Federal Public Complaints Commission in Borno State, was prosecuted on one-count charge of ‘‘cheating.’’ The charge reads: “That you, Nuhu Mohammed Lawan being a Staff of Public Complaints Commission, on the 18th May 2018 at Maiduguri, Borno State within the jurisdiction of this Honourable Court, induced one Kaka Adam Goni to deliver to you the sum of N1,100,000.00 via your GTBank account No. 0248921793.”

Ondo State Governor, Oluwarotimi Akeredolu, SAN, has commended the Corporate Social Responsibility (CSR) initiative of the Nigerian Maritime Administration and Safety Agency (NIMASA), saying it is a creative example for organisations and individuals in the country. Akeredolu said this yesterday in Akure during the

in the state. Akeredolu, represented by his Deputy, Hon. Lucky Aiyedatiwa, praised the relationship between the state and NIMASA and said Ondo State and the maritime regulatory agency shared a common vision of sustainable development of the marine environment for the good of all and sundry.

yielding results,” Aiyedatiwa stated. He noted that Ondo State, with the longest coastline in Nigeria, had a lot to gain from a close working relationship with NIMASA, saying this would help in harnessing the rich maritime potential of the state. The governor also emphasised that the maritime security assets being deployed

to the country’s maritime environment. Akeredolu appealed to NIMASA, as a maritime safety agency, to help in efforts to put off an oilfield fire in the southern part of the state, which he said had raged for about one and a half years, with consequent disruption to lives and livelihoods in the area.

Man Bags 14 Years’ Imprisonment for Attempted Robbery A Lagos High Court sitting at Tafawa Balewa Square, yesterday sentenced a man, Olamide Oyetakin, to 14 years’ imprisonment for attempted robbery. Justice Modupe Nicol-Clay, sentenced Oyetakin after he changed his plea of not guilty to guilty, in an amended onecount charge of plea bargain agreement.

Before handing down the verdict, the Judge asked the convict, if he understood the terms of the plea bargain or if he was coaxed into entering into the agreement. Justice Nicol-Clay, therefore, said: “I have considered the plea of the defendant, the defendant is guilty of attempted robbery. “The defendant understands that the Lagos State Judiciary

sentencing guidelines practice directions of 2018 are applicable. “The court will apply its provisions in considering the sentence which the prosecution and the defence recommended in this plea bargain agreement, pursuant to Section 77 (1) of Administration of Criminal Justice Law of Lagos State, 2015. “The prosecution has proved its case beyond reasonable

doubt and the defendant is hereby sentenced to 14 years’ imprisonment. “The sentence commences from the day the defendant was first remanded in custody,” the judge held. Earlier, the Lagos State Prosecutor, Mrs T.O. Olanrewaju-Daudu, told the court that the case was for plea bargain.

Umahi Adopts Direct Labour to Curb Wastage Ugo Aliogo The adoption of direct labour in the execution of projects in Ebonyi State by Governor Dave Umahi, has curbed wastage and stemmed corruption usually emanating from inflated contracts. Speaking in Lagos recently, the Ebonyi State Commissioner of Information, Mr. Uchenna Orji, explained that the governor would not have achieve half of what he has

done if he had adopted the same old ways of executing projects, arguing that this approach has saved the state huge sums with added value. “The state governor understands prudence, and due process. The governor is a man of great accountability and probity. The Budget Office said that governor Umahi’s administration has no debt record and that is why we have opportunities of accessing grants from donor agencies and

development partners whether nationally and internationally,” he said. “Of course, if there are relevant financial grants from the federal government, we access such grants because we have no debt record because it is part of the laurels that he got. This has also helped us. When the World Bank assessment programme, Safe Tax, assessed states on budget performance, we were among the four best states in budget

performance, and we got N2 billion as a grant from the World Bank,” he added. According to the commissioner, it is all about ingenuity, noting that the governor has zero tolerance for waste, embezzlements, and corruption. “But above all, his passion to supervise his work. To carry out any construction work in Ebonyi state, you must commit to doing a good work, and anytime the work collapses or fail you must come back.

Pension Arrears: Oyetola Releases Funds to Pay 1,501 Retirees Yinka Kolawole inOsogbo The Osun State Governor, Mr. Adegboyega Oyetola, as part of his commitment to improve the welfare of retired civil servants and workers of the state, has released the sum of N300, 000 to pay pension arrears to 1,501

retirees. This is aside the statutory remittance Oyetola makes every month, being the sum of N508,000,000 approved for the payment of retired civil servants, and an additional sum of N150,000,000 approved for the payment of retirees under

the contributory pensions scheme. In a statement signed by the state Head of Service, Dr. Festus Oyebade, the Osun State Government reiterated its commitment to the welfare of serving and retired workers in the state. The names of selected retirees

have been posted on the notice board of the Ministry of Information and Civic Orientation, State Pension Bureau, Local Government Pension Bureau, and the Office of the Head of Service. According to the statement, payment to the selected retirees began from October 25, 2021.

TUESDAY, ͺ;˜ ͺ͸ͺ͹ ˾ T H I S D AY

TUESDAYSPORTS

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

0811 181 3083 SMS ONLY

Pinnick Hints of Ighalo’s Return to Super Eagles Meets injured Ndidi, Etebo, Iheanacho, Iwobi in UK

Duro Ikhazuagbe

There is the possibility of Al Shabab of Saudi Arabia forward, Odion Ighalo to come out of retirement to lace boots for the Super Eagles once more. Ighalo who retired from the Nigerian senior national football team after helping the Super Eagles to a third place finish at the 2019 AFCON in Egypt, has had useful discussions with Nigeria Football Federation (NFF) President, Amaju Melvin Pinnick. Now, chances are he’s likely to return to play in Nigeria’s last two 2022 AFCON qualifying matches before the final knockout phase despite having the likes of Victor Osimhen, Kelechi Iheanacho, Paul Onuachu, Taiwo Awoniyi, Terem Moffi and Sadiq Umar as quality options before Head Coach Gernot Rohr. In a long post on his Instagram page late Sunday night, Pinnick revealed he has had talks with the 32-year-old AFCON 2019 top scorer on five goals. “I had a long conversation with Odion lghalo, personally i believe we need experience in our attack to combine with our energically youthful Osimhen, Onuachu, Kelechi et al. “Odion body language is very positive. We are also in touch with his agents and club. The vibe going into these last two games and indeed AFCON is very good,” stressed the NFF chief who is also both CAF and FIFA executive committee member. Pinnick who also discussed the hangout he and his family

Odion Ighalo...may come out of retirement to play for Super Eagles at next AFCON in Cameroon in January

L-R: Kelechi Iheanacho, Amaju Melvin Pinnick and Wilfred Ndidi at the Leicester home of Ndidi...last weekend had at Wilfred Ndidi’s home in Leicester with Kelechi Iheanacho later joining them, gave a vivid picture of how the injured Leicester City enforcer was recuperating to get back into action. The NFF Boss also paid a visit to another Injured Super

Eagles midfielder Oghenekaro Etebo and spoke about Ademola Lookman’s readiness to play for Nigeria. “l spent quality time with Wilfred Ndidi and Kelechi Iheanacho in Leicester over the weekend. “I went with my wife and

three of my kids who are on half term break. Our visit was a mere family visit and not official. Recall Wilfred is recuperating from an injury that has kept him out for about five weeks, being a very key player for the Super Eagles, we cannot afford to toy with our last two games. Ndidi

has been integral, committed and passionate member of the Super Eagles. “The good news is that his second scan came out very good so he start training with his club and possibly play in their next game. His wife, Dinma was a wonderful host, their little daughter, adorable. Kelechi joined us almost immediately and made us to laugh till we left. “Thanks to Wilfred & Kelechi, my family truly appreciate you. Also paid a visit to Oghenekaro Etebo, in Warri, we call him Afaras’. He is also recuperating very well but definitely cannot make the next two World Cup qualifiers, Nations Cup might also be a doubt, importantly he should

heal 100% by His Grace and rejoin the team. “His family was quite warm and pleasant. We had quality time together and understood every language uttered as 2 proud Warri ‘boys’. He is in a great spirit with the right mental state of mind. “I spoke extensively with Alex lwobi, who cannot wait to feature in those all important games. Ademola Lookman is excited about fighting for a shirt in the Super Eagles. He loves Nigeria. By His Grace we shall conclude the switch very soon.” “WE THANK GOD ALMIGHTY FOR EVERYTHING,” concludes Pinnick in that lengthy post on Instagram yesterday.

FG Postpones NBBF Board Election Indefinitely NFF Set to Rejig Falcons’ Technical Team Olawale Ajimotokanin Abuja

The federal government has postponed indefinitely the election to the board of the Nigeria Basketball Federation (NBBF). The election was originally scheduled for October 30, 2021 in Benin City, Edo State. The Permanent Secretary, Federal Ministry of Youth and Sports Development, Ismaila Abubakar, announced the postponement yesterday via a statement. The postponement was a culmination of the catalogue of crises rocking the Nigerian basketball fraternity. Abubakar’s statement also rashly put paid to the preparation by Nigeria Basketball Federation Electoral Committee headed by Dr Lanre Glover, which yesterday announced that the voting for the now suspended election would be done in line with the provisions of the 2019 NBBF statute ratified by FIBA. In the communication titled: ‘Press Statement on the Nigeria Basketball Federation (NBBF), Abubakar said the decision was necessary to avert further deterioration of the leadership crisis and towards finding a workable solution to the current disagreements within the basketball federation. The statement said: “Having reviewed the crisis around the

D’Tigress ...their protests over unpaid allowances led to the crisis that has now caused the indeﬁnite postponement of the NBBF board elections by the Sports Ministry Nigeria Basketball Federation (NBBF) and in consideration of the several attempts by the supervising Ministry to resolve the lingering crisis and fractionalization in the basketball family, the Federal Ministry of Youth and Sports Development (FMYSD) hereby directs an indefinite suspension of the NBBF Elective Congress scheduled for 30 October, 2021in Benin City. All concerned Stakeholders are expected to take note and comply.

“This decision is necessary to avert further deterioration of the leadership crisis and towards finding a workable solution to the current disagreements within the Federation. The rancour-free development of basketball in Nigeria is of utmost importance. “The recent elections into the NBBF Board from the various constituencies (i.e Zones, NAWIS, Military/Paramilitary, NAPHER. SD, etc) stand and those elected therefrom remain members-elect.”

The latest move by the ministry followed the massive protest in Abuja by basketball players, voicing their opposition to the reelection of the former NBBF President Musa Kida and the threat making the rounds on social media platforms by the National women basketball team, D’Tigress, that they would dishonour future national duties on account of disputes with the Kida led board over unpaid allowances, bonuses and training grants.

The Nigeria Football Federation has congratulated the Senior Women National Team, Super Falcons, for reaching the final round of the qualification series for next year’s Women African Cup of Nations finals slated for Morocco, following a lone goal defeat to their Ghanaian counterparts in Accra on Sunday which rendered the fixture a 2-1 aggregate triumph for Nigeria. However, General Secretary of the NFF, Dr Mohammed Sanusi contended that there is room for improvement in the team’s entire output over the two legs of the fixture with the Black Queens, and that the NFF has concluded arrangements to reinvigorate the team technically, and also strengthen the playing body. “I will start by congratulating the team for the victory over the Black Queens of Ghana. It was a sweet one given the rivalry between our two countries in the game, which dates back to 70 years. Notwithstanding, there are deficiencies that we must deal with squarely and

without any ambiguity in order that the team will be ready for the challenges ahead. “The Super Falcons can, and should, exhibit far greater marksmanship. We have the players at home and abroad to outrun and outplay any team on the African continent, and even compete favourably on the world stage. That is why we have to make the move to reinvigorate the team ahead of the final round of qualifiers against Cote d’Ivoire. The rejuvenation is with an objective for better focus, commitment and productivity.” Cote d’Ivoire’s Lady Elephants, it can be recalled, eliminated the Falcons from the race to the Women’s Football Tournament of the Tokyo Olympic Games which held two months ago. In their side of the qualifying campaign, the Lady Elephants walloped their counterparts from Niger Republic 9-0 in the first leg, making the return a mere formality.

TUESDAY, ͺ;˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

England Legend, Wright, Urges Newcastle to Appoint Emenalo as Sporting Director Olawale AjimotokaninAbuja Former England and Arsenal legend, Ian Wright, has urged Newcastle United not to hesitate in appointing former Super Eagles defence ace, Michael Emenalo for the Sporting Director at St James’ Park. Newcastle Evening Chronicle quoted Wright to have said that a ‘massive problem’ would ensue in the event Emenalo is not considered for the role. Emenalo, 56, who represented Nigeria at the 1994 World Cup in USA is credited with transforming recruitment and development at Chelsea behind the scenes under Jose Mourinho and is currently looking for a job having left his role as Sporting Director with Monaco. The former Enugu Rangers player

joined Chelsea in 2007 as chief scout, then became an assistant first-team coach before becoming technical director in 2011. In that job, he developed the academy and loan system as well as bringing in talents. While at Chelsea, he was part of a set-up that won the Champions League and three Premier League titles as well as other domestic and European trophies. After leaving Chelsea in 2017 he went to work at Monaco, but left in 2019. “If they’ve got a list, and he’s not very high up on that list, then you know they have a massive problem. “For that man to still not be in some form of football employment, at the level of football management, is still, for me, incredible. It really is. “Only because it’s what they need.

He’s the calibre of person of what they need,” Wright who spoke on the Kelly and Wrighty show, was quoted by HITC. Newcastle, which on October 7 became the wealthiest club in the world following its £305million acquisition by a Saudi-led consortium is looking for both a manager and a sporting director to galvanise its transformation as one of the leading clubs in the world. Already, former Dutch star, Marc Overmars is one of the candidates speculated to have been sounded out for the sporting director role by Newcastle’s new owners. In an interview with the Observer last year, Emenalo was asked about his contribution at Chelsea and whether it would encourage more clubs to appoint black directors to which he answered in the affirmative.

Aho Seals Nigeria’s Dominance at Bilateral Cricket with S’Leone

Nigeria’s senior national cricket team, Yellow Green, on Sunday produced a nervy 19 runs win over Sierra Leone to take a comfortable 4-1 lead over their 68th ranked T20 opponent at the on-going Bilateral T20 Series ending today at the University of Lagos cricket oval. The Yellow Greens in the first innings had a below par performance by posting 90 all out in 17.4 overs with the duo of Chima Akachukwu (30 runs) and Sesan Adedeji (20 runs) top scoring for Nigeria. Captain Lansana Lamin's team despite having Samuel Conteh scoring 34 runs were bowled out for 71 all out in 17.4 overs thanks to the ingenious bowling from Peter Aho who ripped through the batting line up of Sierra Leone to grab 6 wickets for 5 runs in 3.4 overs. After missing game 3 and 4 of series the right handed batter who scored the Junior Yellow Greens winning run against Sierra Leone at U-19 African Qualifiers to book an historic U-19 maiden Cricket World Cup came back stronger on Sunday, October 24, 2021 to the delight of fans who thronged the Cricket Pitch.

Peter Aho...best T20 bowler at the Nigeria / Sierra Leone Bilateral series in Lagos

Based on the superb bowling performance of 6 wickets, 5 runs, 3.4 overs, 1 maiden and Economic Rate of 1.36. Espncricinfo adjudged Nigerian left handed bowler Peter Aho as the best T20 bowler in the world ahead of other top bowlers from India, Sri Lanka, Australia, Afghanistan, Uganda & Argentina. The Edo State born cricketer unarguably was adjudged the Player of the Match and for his efforts he got a Plaque and $100 courtesy of Edo State Cricket Association which was presented by Nigerian Cricket Federation’s President, Uyi Akpata. During the presentation Akpata was particularly elated with the performance of the Nigerian bowlers but singled out Peter Aho for more plaudits. "Prior to the start of the match i told all the bowlers that the ground is best suited for them to excel and I am super excited that, Peter, who I watched grow his cricket career created history by taking 6 wickets for 5 runs.” “Less than one month this new board was inaugurated I am over the moon that we are witnessing this historic moment which is a positive sign of better things to come" he said. Responding to the award, Peter thanked Almighty God for granting him the grace to create history in Nigerian Cricket. He also had kind words for the entire coaching crew led by Asanka Gurusinha not also forgetting his ever supportive teammates who kept encouraging even when he was temporarily omitted from the Squad. The Six match T-20 Bilateral Series between Nigeria and Sierra Leone is supported by Access Bank Plc, Ardova Plc, Custodian Insurance Plc, Notore, Glee Hotels and Spa and PETS Foundation. Though Nigeria has won the series but the final game would take place today by 10:00am at the UNILAG Cricket Oval.

Michael Emenalo...wanted at Newcastle to reproduce his Chelsea magic at St James’s Park

Man Utd May Sack Ole Gunnar Solskjaer this Week

Ole Gunnar Solskjaer....may be ﬁred this week at Old Traﬀord

Ole Gunnar Solskjaer might have managed Manchester United for the last time as the club’s hierarchy considers his position. The Manchester Evening News reported on Monday thatthe club hierarchy is giving serious consideration to dismissing Solskjaer before United’s next game at Tottenham on Saturday. United have failed to respond for comment on the manager’s position. United players are understood to have been kept inside Old Trafford for two hours after the final whistle of the 5-0 humiliation by Liverpool on Sunday. United have suffered five defeats in their last nine games and are without a win in their last four Premier League matches. Sunday’s 5-0 thrashing by Liverpool was United’s worst ever home defeat to their biggest rivals. It is understood United players are on a day off ahead of preparations for the Spurs fixture. United have a rare free midweek due to their elimination from the League Cup by West Ham last month. United rewarded Solskjaer for presiding over ‘clear progress’ last season with a new three-year

contract in July but their form has plummeted this term amid the expectation of a title challenge. In the aftermath of the Liverpool debacle, Solskjaer maintained the squad was on course to succeed under his management. “I do believe in myself, I do believe that I am getting close to what I want with the club. I think what we’ve done, what I’ve seen, the development, of course the results lately haven’t been good enough, it’s hands up and that brings doubt in anyone’s mind probably. “But I’ve got to keep strong and I do believe in what we’ve been doing, the coaching staff, the players. Today’s rock bottom, low in confidence. “Next week is Tottenham away, it’s a Champions League game Atalanta, the next team who visits us is Man City. We have to look forward, sort our frames of mind out and make sure we go into the next training session in the right frame of mind.” The MEN revealed former Inter Milan and Chelsea coach Antonio Conte is open to taking over as Solskjaer’s replacement but has reservations over United’s structure.

Italian FA to Probe Racists Chants against Osimhen at Roma The Italian Football Federation announced on Monday that it will be investigating a racist chant directed at Nigerian international, Victor Osimhen, by Roma fans during their goalless draw with Napoli at the weekend. The FIGC said in a statement that a "racially-motivated

discriminatory chant" was aimed at the Nigeria striker Osimhen, and that its disciplinary authorities would be conducting "further investigations" to determine both how many people chanted the unspecified abuse and how long they did it for. Roma were fined 10,000 euros

(about USD 11,611) for "territorially insulting" chants towards Napoli fans. Roma coach, Jose Mourinho, was one of four managers to be suspended for the coming midweek round of Serie A fixtures after being sent off during Sunday's match at the

Stadio Olimpico. Napoli's Luciano Spalletti was dismissed after the final whistle for sarcastically praising referee Davide Massa. Atalanta's Gian Piero Gasperini and Inter Milan coach Simone Inzaghi were also banned for one match after their own red cards.

Tuesday October 26, 2021

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MISSILE Senate to FG “It is bad for recurrent expenditure to be increasing on a yearly basis without increase in the number of workers through required recruitment. The embargo is turning into a time bomb that can explode at anytime as witnessed in some countries in the recent past. Personally, I’m already thinking of where to run to if the avoidable crisis is not averted” –– Senator Ali Ndume, raising the alarm over rising recurrent votes and overhead amidst embargo on employment.

TUESDAY WITH REUBENABATI abati1990@gmail.com

Nigeria vs. WSJ and The Economist

he Federal Government of Nigeria has been in the eye of the storm with the international media recently, and there is a lot that can be extracted from that in terms of lessons and sub-text. I find that ironic considering the fact that between 2014 and 2015, in the lead up to the 2015 Presidential elections, the international media championed the cause of the main opposition party, the All Progressives Congress (APC), the then Special Purpose Vehicle under which all the political terrorists of the time had come together. It was an infectious moment. But today, the same international media appears to be up in arms against the same process that they helped to promote and sustain. It seems to me that this says something about the politics of the media as institution, agent and business and the complex intersection between it, political stakeholders and society. First, it was the BBC and the CNN throwing the Buhari administration under the bus on the matter of the October 20, 2020, #EndSARS protests. At the time and thereafter, officials of the Nigerian government insisted that nobody died at the Lekki Toll Gate during the protests against police brutality in the country and that both government and its agencies were completely innocent. But the international media promotes a different narrative, using security challenges in Nigeria as that thing that hangs around the government’s neck. And second, more recently, there was the matter of a report in the Wall Street Journal (WSJ) in which the Nigerian Air Force was accused of making payments to bandits in exchange for weapons, specifically an anti-aircraft gun that had been allegedly seized from the Nigerian military, and which was to be used to gun down the aircraft of the President of Nigeria who was scheduled to travel to his home state of Katsina for the Eid el Maulud. The Wall Street Journal’s report was very enticing. It painted a picture of the helplessness of the government of the day in Nigeria with regard to security challenges. It stated that the Nigerian Air Force had to pay N20 million for a 12. 7 calibre anti-air-aircraft gun, and that the money was delivered as the leader of the terrorists sipped tea and his boys dismantled the seized arsenal for onward return. The ransom for the equipment was reportedly paid in crisp Nigerian notes totalling $50, 000. The terrorists after collecting the money, so states the report, aired a series of grievances against the Nigerian state. The WSJ report gave the impression that the terrorists are better motivated and equipped than Nigeria’s security agencies. All of this was a week ago. The Nigerian Air Force, naturally and expectedly put up a robust response through Air Commodore Edward Gabkwet, its spokesperson. Commodore Gabkwet’s point is that the Nigerian Air Force did not strike any deal with either bandits and terrorists. He dismissed the WSJ report as fake news designed to cast aspersions on the image of the Air Force, totally false and utterly illogical. He appealed to the media, local, international and the social media, to be more circumspect and co-operate with security agencies in the battle against terror. To be fair, Gabkwet’s position is consistent with the position of the Federal Republic of Nigeria that it would not at any time, negotiate with any criminal who should be subjected to the due process of law. But there were other aspects of the WSJ report which the Nigerian state conveniently ignored. Could it be true for example that the terrorists, inflicting much anxiety on the land, are better equipped than the Nigerian military or any of its units?

Buhari

Is it true as the military readily claims, that the Buhari administration is winning the war? Or do the terrorists have an upper hand? Within a week after the controversial report by the Wall Street Journal (WSJ), The Economist another influential Western publication led its October 23, 2021 cover with the title – “Nigeria: The Crime Scene capital of Africa.” The Londonbased news magazine described the Nigerian army as: “mighty on paper” but weak on the ground with its ranks filled with “ghosts on its payroll”. The magazine event went a step beyond the Wall Street Journal and accused the Nigerian military of selling arms and ammunition to the same terrorists it is supposed to fight. The Report accuses the Nigerian Police of being poorly trained, understaffed, under-paid and involved in the robbery of innocent Nigerians to augment salaries. The Economist was not nice at all. It accused the Buhari administration of ineptitude and mismanagement of the Nigerian economy. As expected, the Nigerian Army fired back. The Army spokesperson deployed all the grammatical epithets he could readily latch on to: “toxic concoctions”, “hatchet job”. “the antics of conflict merchants and agents provocateurs”, “failure to do due diligence”. The Presidency speaking through Garba Shehu followed suit by reiterating that the Buhari government deserves commendation for all the efforts it has made so far to ensure security in the country, and fight terrorism, an inherited situation, which its predecessors failed to handle but which the incumbent administration was dealing with in a decisive manner. The Nigerian Government and its agents have a responsibility to defend the integrity of their operations. I would have acted exactly in the same manner if I was still in government. The Wall Street Journal and The Economist are reputable publications with a wide range of influence. The latter for example, is over 117 years old. The former is one of the most authoritative media platforms in the world. The Nigerian Government would have been remiss in its duty if it failed to push its own side of the narrative, and seek to defend itself, and provide alternative facts about the true situation of things in Nigeria. But the big question is: who is telling the truth? What is the truth? Are the foreign publications cooking up stories? Has the security situation

in Nigeria improved on account of the many claims by the Nigerian Military? Patriotism is useful at the level of emotion and identity, but what is the truth? About the same time that the two Western publications were raising questions about the security challenges in Nigeria and the capacity of the government to address them, the international community had been treated to such reports as the bomb attack on rail lines between Abuja and Kaduna, the abduction and killing of persons in Goronyo/Gada Federal Constituency, jailbreak at the Abologo Custodial Centre in Oyo, and the threat by the indigenous people of Biafra that the group would declare a total shut-down in the South East if its detained leader, Mazi Nnamdi Kanu is not released by November 4. Even if the Wall Street Journal and The Economist added “pepper and salt” in their reports, the material fact is that all is not well security-wise in Nigeria. Take for example, the claim by The Economist that the police in Nigeria are understaffed, under-paid and that they rob the Nigerian people to augment their salaries. Is that true or false? What I have seen is that the Nigeria Police Headquarters has respected itself by keeping mute. While the military and the Presidency offered robust rebuttals, it would have been foolhardy for the Nigeria Police Force to make any claims of innocence. The Report by The Economist coincided with the one-year memorial of the #EndSARS protest of October 20, 2020 in Nigeria. The original theme was police brutality, repression of the people by state agents, the widening alienation between the Nigerian people and those who govern them, and an institutionalised culture of impunity. On the occasion of the #EndSARS memorial in 2021, the police and other security agencies in Nigeria simply repeated the offence. In Lagos, a certain Adedotun Clement, a passer-by, Uber, ride-hailing driver was caught in the middle of the conflict. He was brutalised by the police and officials of the Lagos Neighbourhood Safety Corps, and bundled into a Black Maria. His lawyer, Inibehe Effiiong has petitioned the Attorney General of Lagos State, and issued a notice of warning to proceed to court if the state fails to address the specific demands that he has made on behalf of his client. His petition is supported by copious, documented, evidence much of which is in the public domain. As The Economist wrote that Nigerian policemen are “robbers in uniform”, there was also the reported incident of a comedian, popularly known as Mr. Macaroni (real Name Debo Adebayo) confronting a group of policemen who arrested a Nigerian and asked him to transfer a sum of N30,000 into their accounts. Electronic banking was introduced by the Central Bank of Nigeria (CBN) to facilitate financial inclusion, make transactions easy and promote trade and commerce, but unscrupulous uniformed officials exploit it as a tool of extortion and extra-judicial conduct. No man can be tried or punished for an offence that does not exist under the laws of Nigeria. With the Nigerian policemen laying ambush for the average citizen on the streets of the country, it is considered a crime to be seen with certain kinds of phones, or cars, clothing or accessories, even when no law forbids the freedoms of movement, association, or the right to own property. It may be difficult for the average Nigerian to verify other claims by the Wall Street Journal and The Economist about military capability, or the integrity of the Nigerian Army, but based on the evidence of their eyes, they can safely conclude that all is not yet well with regard to security in their country. Today, many are afraid

to travel by road or rail to certain parts of the country. A Gubernatorial election is scheduled to hold in Anambra State on November 6. Some of the candidates are campaigning from a distance, far away from the same people whose votes they are asking for. When journalists, local and foreign, pick up these details and convert them into embarrassing narratives, it is counter-productive, beyond the denial, for state agents to morph into a combative mode. The right thing to do after the initial disclaimers and damage-control statements would be to subject the claims that have been made to careful scrutiny and analysis, for necessary leads. Journalists by the nature of their work, provide ready-made intelligence, and can be strong partners in the governance process. It would not be out of place, however, to assume that the authors of the reports in the Wall Street Journal and The Economist are very lucky that they are not local journalists. If they were Nigerian journalists working in some of our media houses, they probably would have been invited for a chat by the security departments of state. And when that happens, anything can happen to them, or their family, the media houses they work for or their sources. Many journalists in Nigeria walk the tightrope. Foreign journalists do not face a similar baggage. They have strong institutions that support them. They have more room to speak truth to power. They do not have to look over their shoulders or suffer the indignity of being told how to think. This does not however make them perfect or necessarily better. Many of the so-called Western journalists reporting Africa to the world are biased or ignorant or both. They are victims of the dangers of parachute journalism. They travel around, make a few friends, pick up salacious gossip from so-called contacts, pretend to be good observers of a people and a system that they do not know, and then with the strong media institutions backing them, they compose narratives that promote profiles and prototypes. Their editors sitting in Europe and North America, who have no idea where Africa is, are driven by notions of Africa as the worst place where anything is possible, and so where there is small evidence within that framework, they are eager to build it up, play it up. The big problem in this regard is the imbalance in the global information order. Even with the democratisation of news and information on account of the cybernetic revolution and the rise of the digital space, there is great inequity in the flow of information and the relative impact of seemingly competitive media systems. The media in developing countries is grossly advantaged. Public officials in our countries – the more than 92 low to middle income countries of the world do not seem to get this or understand it. Hence, information management from their side tends to be overtly reactive most of the time, rather than being pro-active and constructive. Information managers in Africa, be they soldiers or other agents, must learn to take charge of their own narratives. The dominant single story often promoted by the West is somehow a reflection of the inequities in every aspect of global relations. While stating this, I am in no way making excuses for the glaring failure of governance and the crisis of poor leadership in developing and underdeveloped countries. The victimhood of this category speaks for itself on the terms of its own omissions. Nigeria needs not engage in altercations with The Wall Street Journal or The Economist. All we need to do is to fix this country and we will all be fine in the long run. But who will fix Nigeria?

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