WEDNESDAY 27TH OCTOBER 2021 by THISDAY Newspapers Ltd

NNPC: $3.097bn Investment Opportunities Exist in Condensate Refineries Says Nigeria needs $2.7bn to improve products supply, distribution infrastructure Projects petroleum products demand to grow to 17.3m MT by 2025

Peter Uzoho The Nigerian National Petroleum Corporation (NNPC) has said investment opportunities worth nearly $3.097 billion currently

exist in the country's condensate refineries’ space. Group Managing Director of NNPC, Mallam Mele Kyari, stated this yesterday in Lagos in his keynote address at the 15th Oil Trading and Logistics

(OTL) Africa Downstream Week. Kyari said between $1.6 billion and $2.7 billion were required by the corporation to improve the supply and distribution of petroleum products, revamp

Liquefied Petroleum Gas (LPG) infrastructure, and build Compressed Natural Gas (CNG) plants in the country. Kyari, who was represented at the event by the Group Executive

Director, Downstream, NNPC, Mr. Adetunji Adeyemi, projected that Nigeria's petroleum product demand would grow to 17.3 million metric tons by 2025, up from the 15.1 million MT in 2020.

The theme of the conference was, "Downstream in Transition: Getting Set." Kyari added that the country Continued on page 49

Enthusiasm Trails eNaira as Nigerians Download 200,000 Wallets in 24 Hours... Page 5 Wednesday 27 October, 2021 Vol 26. No 9697. Price: N250

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Again, CJN Laments Reckless Court Orders Appeals to judges, lawyers not to destroy judiciary

Alex Enumah in Abuja Chief Justice of Nigeria (CJN), Justice Ibrahim Muhammad,

has once again brought to the fore the indiscriminate issuance of injunctive orders by courts across the country, warning

that such acts continue to erode public confidence in the country's judiciary. Muhammad recalled that the reckless granting of ex parte

orders reached a worrisome height recently, and he had to warn some judges to desist from such conduct. Muhammad made the assertions

yesterday during the swearing in ceremony for Justice Hussein Baba-Yusuf as the substantive Chief Judge (CJ) of the Federal

Capital Territory (FCT) High Court, which held at the Supreme Court Continued on page 49

In Riyadh, Buhari Calls on World Leaders to Invest in Policies that Guarantee Global Security Says underinvestment genesis of rising socio-economic challenges Restates commitment to people-oriented policies Seeks debt relief for struggling economies Deji Elumoye in Abuja President Muhammadu Buhari has called on world

leaders and investors to devote more energy to the advancement of humane policies and practices that

would guarantee global peace and stability. Buhari said this would help in addressing the rising ten-

sion and violence across the world. The president spoke yesterday in Riyadh, Saudi

Arabia, at the opening of a three-day “Future Investment Initiative Summit.” He canvassed debt relief

for struggling economies, especially, in the wake of the COVID-19 pandemic. Buhari stressed that the ris-

ing global social unrest was caused by deteriorating social inequalities Continued on page 49

ENABLING INVESTMENTS...

R-L: Group Chief Executive Oﬃcer, Oando Plc, Wale Tinubu; Governor, Central Bank of Nigeria, Godwin Emeﬁele; Minister of Communications and Digital Economy, Isa Ali Pantami; President Muhammadu Buhari; President, Dangote Group, Aliko Dangote; Minister of State for Petroleum Resources, Timipre Sylva; Chairman, BUA Group, Abdul Samad Rabiu; Executive Director, Sahara Group, Temitope Shonubi; Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari and Minister of Trade, Industry and Investment, Mr. Niyi Adebayo, on the sidelines of the ongoing Future Investment Initiative Summit in Riyadh, Saudi Arabia…yesterday.

Mali Junta Declares ECOWAS' Special Rep Persona Non Grata... Page 6

WEDNESDAY OCTOBER 27, 2021 • T H I S D AY

WEDNESDAY, ͺͿ˜ ͺ͸ͺ͹ ˾ T H I S D AY

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

NEWS

THE SOUTH WEST BROTHERHOOD... L-R: Governors of Osun State, Mr. Gboyega Oyetola; Lagos State, Mr. Babajide Sanwo-Olu; Ondo State, Rotimi Akeredolu; Ekiti State, Dr. Kayode Fayemi; Ogun State, Dapo Abiodun and Deputy Governor of Oyo State, Mr. Rauf Olaniyan, during the South-west Governors’ Forum meeting held in Lagos ... yesterday

Anambra Poll: IG Overhauls Security Team, Deploys DIGs Egbunike, Ahmed to Lead Operations Five AIGs, 14 CPs, 31 DCPs, 48 ACPs also affected Vows to work with stakeholders to protect voters, democratic values, provide level playing field NSA, service chiefs warn troublemakers Kingsley Nwezeh in Abuja Ahead of the November 6, 2021, governorship election in Anambra State, the InspectorGeneral of Police, Mr. Usman Baba, yesterday overhauled an earlier security deployment in the state and named Deputy Inspector-General of Police in charge of Operations, Joseph Egbunike, to lead election operations in the state. This is just as the National Security Adviser, Major General Babagana Monguno (rtd), yesterday warned those planning to destabilise the election to have a rethink or be prepared to face the full wrath of the law. Egbunike is from Onitsha, Anambra State. The IG vowed to work with stakeholders to protect democratic values, provide level playing field for all political actors, ensure adequate protection of voters during the election. The IG also ordered the

deployment of five AssistantInspectors General of Police (AIGs), 14 Commissioners of Police (CPs), 31 Deputy Commissioners of Police (DCPs) and 48 Assistant Commissioners of Police (ACPs). A statement issued by Force Public Relations Officer, Mr. Frank Mba, who is a Commissioner of Police, stated that the overhauling included the deployment of selected seasoned strategic commanders from the rank of Assistant Commissioner of Police and above to Anambra State for effective supervision of security personnel and operations in the elections. It said Egbunike was deployed to Anambra State as the Coordinator of the security component for the elections. "DIG Egbunike is saddled with the responsibility of overseeing the implementation of the "Operation Order" evolved from the election security threat assessment to ensure a

peaceful environment devoid of violence and conducive enough to guarantee that law abiding citizens freely perform their civic responsibilities without molestation or intimidation. "DIG Egbunike will be assisted by the DIG in-charge of Operations, Acting DIG Zaki Ahmed," it added. The statement noted that the senior officers were to coordinate human and other operational deployments in the three Senatorial Districts, 21 Local Government Areas and the 5,720 polling units in Anambra State. "The IG reassures the nation that the force is adequately prepared for the gubernatorial elections in Anambra State come November 6th, 2021. "He reiterates that the force will do everything within its powers to work with the Independent National Electoral Commission (INEC) and all stakeholders to protect democratic values,

provide level playing field for all political actors, ensure adequate protection of voters, INEC personnel and equipment, accredited observers and other key players in Anambra State. "The IGP calls on citizens in Anambra State to come out en masse and exercise their franchise as adequate security has been emplaced to protect them before, during and after the elections," it added. The IG had at a recent meeting with police mobile force commanders ordered them to deal ruthlessly with violent elements and political thugs, who may work against a transparent and credible outcome of the election. The police chief had also read the riot act to squadron commanders, vowing to deal decisively with any commander that lacked command capacity and unwilling to key into the reform agenda of the IG. Speaking at another meeting with AIGs and CPs afterwards,

Enthusiasm Trails eNaira as Nigerians Download 200,000 Wallets in 24 Hours Obinna Chima In the first 24 hours after it was unveiled, the Central Bank Digital Currency (CBDC), also known as the eNaira has continued to attract the interest of Nigerians with about 200,000 wallets downloaded in less than one day. A breakdown of the figures obtained by THISDAY yesterday, showed that in less than one day after the digital currency was launched by President Muhammadu Buhari 156,700 consumer wallets have so far been set up, while 23,650 merchant wallets have been open, which was a reflection of the strong interest the innovation has continued to attract. It is expected that in the coming days, the amount would rise as the Central Bank of Nigeria (CBN) intensify awareness on the eNaira.

Buhari had said with the eNaira, the country’s Gross Domestic Product (GDP) was projected to rise by $29 billion in the next 10 years. He had 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. On his part, 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 had 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. 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. 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.”

the IG ordered the mobilisation and deployment of a total of 34,587 police personnel, three police helicopters the state for the election. He said the 34,587 personnel included conventional police officers, Police Mobile Force (PMF), Counter Terrorism Unit (CTU), special forces personnel, Explosives Ordinance Unit (EOD), Force Intelligence Bureau (FIB), Interpol, Special Protection Unit (SPU) as well as police medical teams expected to be on ground to guarantee a hitch-free election. Meanwhile, Monguno, who gave the warning at a general security appraisal committee meeting with military service chiefs and heads of other security agencies in Abuja, assured that the security agencies would ensure that there was no bloodshed, violence and intimidation during the elections. He said the people of Anambra State were expected to elect their next governor without any rancour. The NSA also warned all security operatives to apply self-restraint in the face of provocation. "Our intentions, our aspirations are to see that the elections do not result in anything that is unwanted. Any bloodshed, any violence, intimidation, coercion or even terrorising the people of Anambra State. “It is their fundamental right to vote and choose whoever they want as their governor and they should not be denied that right. More importantly they should not be put in a situation whereby they are reluctant to come out and vote," he said. Monguno maintained that the role of the security agencies was to instill confidence in the electoral process. "Ours is to instill confidence in the entire South-east, particularly in Anambra State, to make sure that nothing happens to those people who will come out to vote. “The security agencies have

also been told to exhibit the highest level of professionalism, self-restraint, discipline and adherence to what is written in the statute. "They must make sure that they do not allow themselves to be provoked. This is because we have made them to understand that they owe themselves responsibility to stay alive so they are not going to go there and sit, allow themselves to be harmed but at the same time they will have to work together with the community, the political leadership to ensure that nothing theatrical takes place", he said. He said the security chiefs received assurances that adequate security measures in the state were in place. "We have been assured by the commissioner of police and the armed forces have put everything in place to be the second layer to make sure that lives are not lost. "A lot of things have happened in the south-east in recent months, there are people and this is not peculiar to Nigeria, all over the world, there are agitation for certain things but there are ways in which you can realise your objectives without resorting to tactics that are not orthodox. “President Buhari does not have an aversion towards democratic objectives being realised," he said. "Law enforcement agencies have been mandated to make sure that the elections are conducted without rancour, we will behave in conformity with the laws of the land and ensure that the people of Anambra State are protected," Monguno stated. In his remarks, Baba, while allaying the fear of the people of the state, urged them to come out en masse to exercise their rights "The Anambra elections will witness joint deployment of all security operatives across the state. Mr President has been briefed on efforts to ensure a peaceful election without destruction lives and property,” he said.

WEDNESDAY, ͺͿ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

FOR A WORKABLE PARTNERSHIP... L-R: Vice President Yemi Osinbajo; Head of the Civil Service of the Federation, Dr. Folasade Yemi-Esan; Chairman of Aig-Imoukhuede Foundation, Mr. Aigboje Aig-Imoukhuede and Vice Chairman of the Foundation, Mrs. Ofovwe AigImoukhuede, at the signing of a partnership agreement between the Office of the Head of the Civil Service of the Federation and the foundation at the sidelines of the Nigerian Economic Summit in Abuja ... yesterday

Head of Service Partners Aig-Imoukhuede Foundation on Digitalisation Dike Onwuamaeze The Office of the Head of the Civil Service of the Federation (OHCSF) is collaborating with the Aig-Imoukhuede Foundation (AIF) to digitalise the operational processes of the OHCSF with the implementation of an Enterprise Content Management Solution (ECMS). A joint statement issued by the OHCSF and the AIG explained that the collaboration was formalised yesterday with the signing of an agreement between the OHCSF and the AIF in the presence of the Vice President Yemi Osinbajo, at ongoing 27th Nigerian Economic Summit in Abuja. Also present at the signing ceremony were the Executive Vice Chair of the AIF, Mrs. Ofovwe Aig-Imoukhuede and several federal permanent secretaries. The Head of the Civil Service of the Federation, Dr. Folasade YemiEsan, signed for of the OHCSF while the Chairman of the AIF, Mr. Aigboje Aig-Imoukhuede, signed on behalf of the foundation. The statement noted that the ECMS solution would reposition the federal civil service for better performance and improved quality of service and also, “create efficiency and effectiveness in the OHCSF and ensure the integrity of processes and their outcomes.” Yemi-Esan added: “We are committed to improving public service delivery and efficiency to ensure that the people of Nigeria have a seamless experience of federal services. “The digitalisation of our work processes will enable us to be

more effective and I commend the Aig-Imoukhuede Foundation for partnering with us to achieve this. ‘It is a true testament to the role that public-private sector collaboration can play in national development and I hope that this partnership will inspire other entities in the public and private sectors to collaborate to build a better Nigeria.” Speaking in the same vein, AigImoukhuede, said: “Our mission at the AIF is to drive improved public service delivery and we are committed to supporting

the efforts of the public sector to increase its effectiveness so that it can deliver on its mandate to the Nigerian people. “As we approach the final stage of the digitalisation project, I am confident that this will mark the beginning of a new era of increased efficiency in the Federal Civil Service.” It explained that the OHCSF began to forge a partnership with the AIF in 2017, when it signed a memorandum of understanding with the Africa Initiative for Governance (AIG), which is a subsidiary of the AIF.

funding for the digitalisation project.” It further stated that the digitalisation project was being implemented in stages with the first being the development of Standard Operating Procedures (SOPs), which have since been completed by the OHCSF and “are currently undergoing adoption by all the Federal Government of Nigeria’s Ministries, Departments and Agencies (MDAs). “The second stage was the Organisational Readiness Assessment, which assessed the OHCSF’s state of readiness to

adopt the ECMS and measure future outcomes of the project implementation. “Additionally, the OHCSF is preparing for ISO 9001-2015 (Quality Management System) certification, which will provide direction for establishing an effective and responsive compliance management system within the OHCSF, enhancing organisational readiness for the ECMS. “A Joint Evaluation Panel set up by the AIF and the OHCSF identified a suitable ECMS vendor and the project is now at the final stages of implementation.”

SDGs: Sanusi Faults Spending Priority as Fayemi Seeks Measures for Safe School James Emejo in Abuja Former Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, yesterday faulted the spending priority of both the federal and state governments. According to him, less attention was being given to education and areas that could benefit the masses. Sanusi said with much of the resources going into debt service, fuel subsidy, overheads and the National Assembly, it would be difficult to attain the Sustainable Development Goals (SDGs). He said the issue of gender equality should also be enforced in the country. This came as Governor of Ekiti State and Chairman, Nigeria Governors' Forum (NGF), Dr. Kayode Fayemi, stressed that ensuring safe school for the children had become a matter of fierce urgency amidst

kidnappings and abductions by bandits. They both spoke during a plenary on "SDGs and Quality of Life: Pathways for Accelerated Progress" at the 27th Nigerian Economic Summit (NES#27) with the theme: "Securing Our Future: The Urgency of Now." Sanusi said the country required a leadership committed to development to be able to make a headway in its developmental aspirations. He said: "Every country that has had development has a leadership that is committed to development. "When in a country where 40 per year of the population is living in extreme poverty and where you have one out of six children in the world out of school in this country, you cannot solve this problem without having a leadership that understands that development is." While also kicking against

Mali Junta Declares ECOWAS' Special Rep Persona Non Grata Gives him 72 hours to leave country In a development that gave a sense of heightened tension, the government of Mali, Monday, declared the Special Representative of the Economic Community of West African States (ECOWAS), Hamidou Boly, "persona non grata" and gave him 72 hours to leave the country. This situation, which signaled some obnoxious diplomatic development, was contained in a statement issued on Monday by the Malian Ministry of Foreign Affairs and International Cooperation. Boly, the statement indicated, was notified of the decision of the government declaring him "persona non grata, by the Ministry of Foreign Affairs and International

This, it explained, led to the engagement of the Mckinsey & Co by the AIG to develop the Federal Civil Service Strategy and Implementation Plan 2017-2020 (FCSSIP20), “and since that time the AIF and its subsidiary entities have been working with the OHCSF, supporting the implementation of some of the key priority areas outlined in FCSSIP20. “The COVID-19 pandemic highlighted the urgent need for the civil service to digitalise, and the AIF has been working with the OHCSF, providing necessary consulting support, resources and

Cooperation, in view of his actions deemed incompatible with his status". The statement read in part: "This decision comes after several warnings addressed to the person concerned through his hierarchy", even as the Malian government reaffirmed its "readiness to maintain dialogue" with ECOWAS and to "work together" for the success of the transition. This Malian authorities, it was said, took the decision after a UN Security Council mission on October 23 and 24 to assess the country's political situation, after being urged by ECOWAS to respect the deadline of 18 months of transition (from September 15, 2020) and organise

the first round of legislative and presidential elections by February 27. ECOWAS President-in-Office and President of Ghana, John Nana Akuffo-Addo, had made an official visit to Bamako on October 17 to discuss with the Malian authorities about the "evolution" of the proposed transition. The Malian coup of August 18, 2020, had necessitated a political transition since September15, 2020 for 18 months. But lately, the transitional authorities called for the postponement of the first rounds of the presidential and legislative elections scheduled for February 27, 2022, and as a result, extended the deadline for the transitional period.

populist policies, he said there was need for the right investment in education, healthcare, as well as the right investment in lifting the people out of poverty. The former central bank governor said, "As long as our spending sends the wrong signal, so much as the bulk of our resources are going to the wrong areas, we are not going

to meet out SDGs. "And for the last 20, 30 years, we have turned the state into a populist state where the focus has not been on people. "So, the greatest accelerator for me is to build that national consensus." He added: "Where are we spending our money? Does Nigeria consider its development

as a priority? I mean, forget the noise, what are we spending our money on. "We spend money on debt service, fuel subsidy, overheads, National Assembly. "We are spending less money on education and healthcare than Continued on page 49

FRC Reads Riot Act to MDAs on Submission of Audited Accounts James Emejo and Sonia Mayomi in Abuja

The Executive Secretary, Financial Reporting Council of Nigeria (FRC), Shuaibu Ahmed, yesterday warned government agencies against delays in filing their audited financial statements. He said so far a total of 115 public sector entities comprising government parastatals, agencies, and business entities had filed their annual statements between the end of 2020 and October 2021. Ahmed, who said this at the opening of a national learning and development programme on accounting and financial reporting in the public sector, pointed out that the council had started to impose fines and penalties for infractions in line with the provisions of the FRC Act and its extant rules. He said based on the review of the audited financial statements filed with the FRC, financial reporting in the public sector was fraught with challenges and issues to which the learning programme was designed to address. However, the FRC boss noted that public sector entities play a pivotal role in national economy especially in their role as major

driver of productive activities and the largest single business entity. He said, “Our various engagements with the National Assembly further expose the lingering issues of late submission of financial reports by MDAs, lack of proper treatments of accounting issues, poor disclosures. “As a bedrock of the economy, the importance of financial reporting quality in the national economy cannot be over emphasised." According to him, “Credible financial reports are critical as they not only support efficient decision making by those charged with governance, but also boost the perception index of the country and by extension, enhancing Foreign Direct Investments (FDIs) and Foreign Portfolio Investments (FPIs) as veritable tools and catalysts for the nation’s economic growth. Ahmed pointed out that a situation whereby critical institutions of government, some of them apex regulatory bodies, were two to three years behind in releasing their audited financial statements should not and would no longer be tolerated going forward. He said: “We at the FRC have resolved to set good example by ensuring that our 2021 AFS are

prepared, audited and filed within 2 months after end of the 2021 Financial Year.” Also, speaking at the occasion, Minister of Industry Trade and Investment, Mr. Niyi Adebayo, said a major challenge of financial reporting by public sector entities is the poor knowledge and application of accounting standards. He said, “This programme is therefore essential for government agencies and I commend both FRC and the Office of the Accountant General of The Federation for the creation of this forum. “I have been informed that the Financial Reporting Council of Nigeria has carried out a review of some of the financial statements filed with them by a number of public sector entities and a lot has been revealed. “It has been observed that there is lack of proper understanding of the requirements for credible financial reporting in the public sector. “Some public sector entities still use the Statement of Accounting Standards (SAS) issued by the defunct Nigerian Accounting Standards Board (NASB) as their reporting framework while others use a number of other formats."

WEDNESDAY OCTOBER 27, 2021 • T H I S D AY

WEDNESDAY, ͺͿ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

WOMEN “AWAKE”...

L-R: Wife of Ekiti State Governor, Bisi Fayemi; Lagos State Deputy Governor, Dr. Obafemi Hamzat; his wife, Oluremi; Governor Babajide Sanwo-Olu; his wife and Committee of Wives of Lagos State Oﬃcials (COWLSO) Chairman, Dr. Ibironke, and Governor of Ondo State, Rotimi Akeredolu, during the opening of COWLSO’s 21st National Women Conference in Lagos ... yesterday

Osinbajo Urges OECD Countries to Redeem $100bn Pledge to Nigeria, Others Media undermining watchdog role, says Lai Mohammed James Emejo and Olawale Ajimotokan in Abuja The Vice President, Prof. Yemi Osinbajo yesterday urged the Organisation for Economic Co-operation and Development (OECD) countries to fulfill their promise of $100 billion to assist

developing countries achieve net-zero emissions. This is just as the Minister of Information and Culture, Alhaji Lai Mohammed, yesterday criticised the Nigerian media for undermining its watchdog role by increasingly organising ceremonies and presenting awards to some top officials of

the government that are supposed to be held accountable. They both said these yesterday, at the closing session of the 27th Nigeria Economic Summit (NES 27) with the theme: “Securing Our Future: The Fierce Urgency of Now,” adding that being aware of the challenges of defunding fossil

fuel projects was important. Net -Zero Emission means removing all man-made greenhouse gas emissions from the atmosphere through reduction measures by 2050. Osinbajo explained: “Frankly, a lot of African countries, especially African petroleum and gas pro-

Stakeholders Divided over Passage of Computer Forensic Institute’s Bill Adedayo Akinwale in Abuja Stakeholders were sharply divided yesterday, over the passage of the Chartered Institute of Computer Forensics of Nigeria and for other Related Matters Bill into law. While some of the stakeholders at the public hearing on the bill organised by the House of Representatives Committee on Science, Technology and Innovation spoke in favour of the passage of the piece of legislation into law, others spoke against. Making his presentations at the public hearing, the Minister of Science, Technology and Innovation, Dr. Ogbonnaya Onu said the Computer Forensics Institute of Nigeria (CIFIN) was incorporated in 2008. Onu who was represented by the Deputy Director, Information, Communication and Technology, Mr. Adebayo Adeyemi said the bill should be expedited in the interest of the country. He said the bill would enhance national security through improved and speedy investigation, improve criminal justice and administration. The minister stressed that it would also improve local and indigenous capacity enhancement, while also putting an end to the import of cybercrime or forensics experts to Nigeria. Onu added, "And lastly, research and development into indigenous development and production of locally developed digital equipment so that our hard earned money will not be taken away. "This will reduce foreign

exchange presently expended on foreign importation of these equipment. We hereby conclude and recommend that this Bill be considered and be passed as it will be of immense benefit to the country." In his submission, the President, Chartered Institute of Computer Forensics of Nigeria (CICFON), Prof. Peter Olayiwola said since the bill was in accordance with Section 18 of the Constitution as amended, which stipulates that the government shall promote science and technology, it should be given accelerated hearing and subsequent passage into law. Olayiwola noted that the objective of the bill was to obtain a charter or legislative backing for the incorporated Computer Forensics Institute of Nigeria and thereby transform it into a Chartered Institute and pioneering Computer Forensics Institute of Nigeria. He stressed that since 2009, the institute has been conducting training in computer forensics, adding that since 2010, it has provided certifications to its members. The president noted that most of its members work in the digital and computer forensics of EFCC, Nigeria Police Force, Defence Headquarters, Nigerian Army, Navy, Air Force, DSS, CBN, NCC, etc. Olayiwola said, "Basically, our members current areas of practice and responsibilities include detection and investigation of all forms crimes, electronic and cybercrime, terrestrial crimes; kidnapping, burglary and others, extraction

analysis and electronic evidence, biometrics and identity forensics, cyber intelligence and assisting Judges, Prosecutors and Defence Lawyers in forensically extracting and reporting electronic evidence in courts." He was of the opinion that the bill should be speedily considered as it is fundamental to the national security, equity and justice in Nigeria. However, the President Computer Professionals (Registration) Council of Nigeria (CPN), Mr. Kole Jagun kicked against the passage of the bill, saying there was already an existing law. He noted that if the bill was passed, there was going to be conflict and abrogation of existing law. Jagun added: "The CPN is established to regulate and control information technology education and practice in Nigeria. "Going by the provisions Section 1a and 1b of the proposed Chartered Institute of Computer Forensics of Nigeria Bill, only computer professionals and those with professional skills relating to the use of confidential information can engage in digital mobile and computer forensics. “This is what your proposed bill said which is already in conflict with the Act (CPN) 1993. Actually, this bill is a duplicate of the CPN Act. It's a duplicate. Whoever proposes this makes a duplicate Prof Olayiwola has been our member -CPN since 1998. He knows the Act, he knows the law very well." Jagun wondered why the institute sought a Charter in ICT.

According to him, the other item was duplicity of functions. “Why would you want to have many chartered institutes in the IT profession? The IT profession is very dynamic. Every day you are getting new areas, are you going to wake up every day and start creating chartered institutes for everybody? No. There is a body to regulate that." Jagun stressed that another reason while the bill was being opposed was because of the confusion amongst computer professionals. He said in accordance with the CPN Act, persons and organisations engaged in computer practice and IT devices in the country are required to register with CPN and obtain a license to practice. Jagun noted, "Now, if you are approving this Bill, are you saying now that if I want to practice I will get double licenses? "We are recommending that the Bill is withdrawn from the National Assembly forthwith and the sponsors of the Bill should confer with CPN on ways to register with CPN and work with CPN." On his part, Air Commodore Amos Bulus, Defence Headquarters (DHQ) said it won't be in the interest of Nigeria to leave national security in the hands of an institute. He said, "I strongly believe that we will not be doing justice to this country if allowed to run because the national security of the country will actually be left in the hands of the Institute. I think it will not be in our best interest. On that note I want to lend my voice to the earlier position taken by CPN."

ducing countries have been like someone asleep at the wheel on these questions of defunding of fossil fuel projects and all that. “I think that what is crucial is for us to pay attention to this because the world is confronted by the climate crisis and we are part of the world. “But, we are also confronted with an existential crisis of poverty and even of maternal mortality and all of the various challenges that come with extreme poverty. “So, while the wealthier countries are focused on climate change and climate change alone, we have to focus, not just on climate change, but access to energy, which is the major constraint that we have.’’ He added: “We, here in Africa is about 0.1 per cent and we have far less power; we have far less access to energy. “So, the truth of the matter is that this transition to zero emission by 2050 or 2060 or whenever, must he based on fairness, equity and justice. “And I think it is important for us to keep emphasising this and to also negotiate this; so, we should not be negotiating just national contributions, which is what we spend a lot of our time doing; we must negotiate the terms of this transition. “We must ensure that the $100 billion a year that the OECD countries promised as funds towards a transition of developing economies, they are faithful to that promise; I think that really it is time for hard bargaining. ‘’ He said what the developing countries contributed was a minor fraction to what the rest of the world was responsible for, citing the US as accounting for 15.5 tons per capita of emissions. He noted that developing countries must insist that although they were part of the movement for zero emission and believed in it, but they were not the worst polluters and were being asked to make the greatest sacrifice. He said, “Today, we are experiencing severe manifestations of climate change, flooding in various parts of our country, but these manifestations of climate change were not caused by us.

“But, we receive practically all of the problems associated with it.” Speaking further, Mohammed argued that while the criteria for giving the awards such as: ‘Governor or Governors of the Year; Minister or Ministers of the Year; Politician or Politicians of the Year,’ were dubious, it was preventing the media from carrying out its watchdog role and from holding power accountable. “Let's forget that some of these awardees support the awarding organisations in one form or the other, especially during the awards. To what extent can such media organisations hold their awardees, most of them top officials of government at all levels, accountable? Is this not antithetical to the watchdog role prescribed for the press in the Constitution?” he said. He said the role of the media in building a virile democracy, especially by holding power accountable was much recognised by the framers of the Constitution, under Section 22 of 1999 Constitution which says: “The press, radio, television and other agencies of the mass media to, at all time, be free to uphold the responsibility and accountability of the government to the people.'' Although he conceded the Nigerian press was one of the most vibrant in the world , he said the case in the country was that the government always had to contend with endless bullying by the press. “In Nigeria, however, there is an increasing concern about the ability of the fourth estate to hold power to account. This concern is due to a number of factors. One is bias. For example, there is a national television station here in this country that has, as one of its anchors, a partisan, a known opposition party man. “Yes, the said anchor is also a journalist. But what kind of objectivity can we expect from such an anchor? No matter how professional he seeks to be, his partisanship will always be a blur. Can such anchor or his medium be trusted to objectively hold power accountable?” He also expressed concern about Continued on page 49

WEDNESDAY OCTOBER 27, 2021 • T H I S D AY

T H I S D AY • WEDNESDAY, OCTOBER 27, 2021

COMMENT

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

WHY TERRORISM SPONSORS SHOULD BE NAMED What is sauce for the goose is also sauce for the gander, argues Sonnie Ekwowusi

n his characteristic outburst, the Federal Attorney-General Abubakar Malami (SAN) last Friday alleged that the major financier and abettor of Oduduwa Republic agitator Sunday Igboho is a member of the National Assembly. He also claimed that the federal government has unmasked the financiers of Biafra agitator Nnamdi Kanu. He specifically alleged that individuals, groups as well as state and non-state actors both within and outside Nigeria are aiding and abetting Kanu in his activities. You will recall that in his last Independence Day Anniversary broadcast, President Muhammadu Buhari alleged that an unnamed serving member of the National Assembly was among the high-profile sponsors of secessionism and terrorism in Nigeria. But in his reaction on the floor of the House of Representatives, Ben Roland Igbakpa (PDP, Delta), regretted that the President’s blanket accusation had breached his privilege as a lawmaker. He also stated that the unassailable deduction from President Buhari’s accusation is that the 469 members of the National Assembly are either criminals or terrorists. For example, he narrated how he was arrested and detained at Ghana Airport for four hours on suspicion that he was a Nigerian lawmaker-turned terrorist visiting Kenya to unleash his terrorism. He regretted that consequent to his said arrest and detention at the Ghana Airport he missed the wedding which he travelled to Ghana to attend. When he demanded to know from the state security agents detaining him the reason for his arrest and detention, the agents said to him, “sorry sir there’s an announcement in Nigeria that a member of parliament is sponsoring terrorism and we are put on red alert to ensure that no member of parliament comes here to hide or cause trouble”. After listening to Hon. Igbakpa, the House of Representatives urged President Buhari to disclose the name of the alleged terrorism sponsor in the National Assembly failure which the House will invoke the constitution to compel the president to do so. The House also unanimously mandated the House leadership to meet with their counterparts in the Senate and fix an appointment with President Buhari, so that he would name the terrorist lawmaker. Speaker Femi Gbajabiamila also promised the House that he would look into the matter and revert back to the House. Till date, nothing has been heard on the matter. For all you and I know, it is not impossible that President Buhari and the National Assembly have decided to “off the mic” on the matter. He who asserts must prove. Allegations unsupported by concrete evidence are embarrassingly flawed. If President Buhari and Malami are alleging that the federal government has unmasked the financiers and abettors of Sunday Igboho and Nnamdi Kanu they should, in all honesty, name them especially now that Nnamdi Kanu and Sunday Igboho are respectively on trial. It makes no sense leveling accusation of such high magnitude in public without any facts to back it up. By alleging that a member of the National Assembly is an aider and abettor of terrorism in Nigeria both President Buhari and Federal Attorney-General Malami have cast an odium and opprobrium on the distinguished members of the Senate and the Honourable members of the House of Representatives. They have lowered the estimation of the members of the National Assembly before the right-thinking members of the public. And by refusing/failing/neglecting to disclose

HE WHO ASSERTS MUST PROVE. ALLEGATIONS UNSUPPORTED BY CONCRETE EVIDENCE ARE EMBARRASSINGLY FLAWED

the name of the terrorism sponsor in the National Assembly, Buhari and Malami have put all the 469 members of the National Assembly on the Watch List of terrorists. This is not good. Every citizen of this country is presumed innocent until the contrary is proved by a court of competent jurisdiction. But in his defence, Malami argues that exposing and shaming the alleged sponsors of terrorism will jeopardize investigation. With the greatest respect, I beg to disagree. First, the two suspects-Nnamdi Kanu and Sunday Igboho-are presently in incarceration, and, therefore will not tamper with investigation let alone evidence. If I may ask, what is the timeline for carrying out the investigation or will the investigation last forever? In any case, if investigation on the matter is ongoing as Malami claims, why rush to inform the public that the government had unmasked the financiers of Nnamdi Kanu and Sunday Igboho? If investigation is ongoing, why hastily accuse the National Assembly of harbouring a sponsor of terrorism? If exposing the alleged sponsors of terrorism will jeopardize or hinder investigation, why announce to the whole world that government has commenced investigation in the matter? While answering questions on why the government has not deemed it fit to name the alleged terrorism sponsors, Malami says “Naming and shaming of suspects is not embarked upon as a policy by the federal government out of sheer respect of the constitutional rights of Nigerians relating to presumption of innocence”. Oga Malami, what about naming and shaming Nnamdi Kanu and Sunday Igboho even though both have not been tried and convicted by a court of law? Is Nigeria now operating two criminal justice systems, one for the privileged few and another for the less privileged majority? I think Malami is just blowing hot and cold at the same time. For example, in one breath, he informs us that the federal government had already succeeded in identifying the funders of terrorism in Nigeria and consequently bringing them to justice to prevent them from blocking the leakages associated with such funding. But in another breath, the same Malami tells us that investigation in the matter is still inconclusive. So, where lies the truth now, in the latter or in the former? Borrowing the words of the earliest English writer Thomas Paine, these are times that try men’s souls. A country in which many insurgents, herdsmen, political imbeciles, assassins, bandits, political thugs and all sorts of criminals have run amuck and now ceaselessly murdering, maiming, kidnapping their fellow citizens unchecked is tottering on the brink of final collapse. Therefore prudence dictates that our political office holders should carefully weigh their words before uttering them in public if not for anything to avert further escalation of the political tensions across the country. If President Buhari and Federal Attorney-General Malami are not ready to mention the names of the alleged terrorism sponsor they had better keep quiet about it to avoid giving the impression that the government is hiding something from the public or that it is in pari delicto in the crime of terrorism. It is high time wisdom is brought to bear in governance in Nigeria. We have seen how the wisdom in bringing Nnamdi Kanu to court last Thursday has helped to douse the simmering political tension in the South-East. We need wisdom in tackling Nigeria’s myriads of problems. If utterances must be made they should be well-thought-out.

REFLECTIONS FROM THE BLAVATNIK SCHOOL OF GOVERNMENT Folasade Osho, AIG scholar, shares his experience at University of Oxford

ith this piece, I hope to share personal reflections from living and studying in Oxford. The Africa Initiative for Governance (AIG) Scholarship programme was the springboard to accessing this opportunity. Since 2017, this public sector-focused philanthropic organisation has, among many other initiatives, endowed 27 West Africans with scholarships to undertake the one-year Master of Public Policy (MPP) at the Blavatnik School of Government (BSG), University of Oxford. After an intense four-stage selection process and a successful Oxford application, I became a recipient of this competitive much-coveted scholarship. To the AigImoukhuede Foundation, I will be eternally grateful for this world-class learning experience at Oxford. Before the MPP, I trained as a pharmacist and worked for eight years with a government parastatal under the Federal Ministry of Health. Although, this Agency operated with some level of efficiency and independence, challenges around resource constraints, evidence-based policymaking, silos-thinking, bureaucracy, stakeholder collaboration and coordination, ensued. Hence, my motivation for undertaking the MPP was to obtain the skills and capacity, that Infuses multi-disciplinary and global perspectives, to tackling these public policy challenges. I will be sharing five reflections from the many lessons gleaned during the intensive one-year MPP learning experience. First, The MPP experience revealed how much I did not know. The MPP program is aimed at imbibing value-based judgements, stimulating critical thinking, effective use of evidence and outstanding decision-making in its students. Hence, the course work includes modules in Philosophy, Economics,

Politics, Law, Evidence, Health Policy and Systems, Managing Public Sector Organisations, Negotiations, Design Thinking, etc. Also, interacting with world-class academics, policy experts and a very diverse cohort, revealed how much knowledge was out there. Reinforcing this knowledge gap was my health background, which was particularly narrow, expert-centric, having limited interaction with other fields of study. Though sad to admit, the gap also included knowledge of Nigeria and her history. Initially, I was overwhelmed and struggled with an impostor syndrome. Later, I understood that the MPP Program, being a generalist training, was not structured to make experts of its students. Rather, by providing a bird’s eye view, it creates the awareness that this knowledge sources exist, and when required could be accessed in making holistic decisions. Regardless of background, one can engage constructively and imbue microeconomic, behavioural, political, philosophical, legal, data and other perspectives to policymaking. For my second reflection, I will share an anecdote from an applied policy class which occurred in my first semester at Oxford. The class was facilitated by a brilliant public policy practitioner of international repute. During the class, a graph around education and learning outcomes was presented, and Nigeria was conspicuously at the bottom. Ordinarily, I would not challenge statistics for the following reasons; first, these findings are results of rigorous and credible research. Secondly, I do not have counter evidence. And thirdly, I had become accustomed to Nigeria and other SSA countries being ready examples for non-functional or failing systems. But the surprised gasp from my classmate and perhaps a desire to challenge a negative stereotype, salvaging whatever was left of our national reputation, as well as my

personal truth and experience of Nigeria’s diversity; motivated me to publicly request clarification of the stats. The response was even more disheartening which was; “if this study was conducted 50 times, it will deliver the same result”. My second reflection is around harnessing the power of narrative to frame, perpetuate and challenge stereotypes. I doubt any narrative is fully objective or free from bias; whether positive or negative. No wonder Chimamanda Ngozi in her famous Ted talk decried the danger of a single story. While acknowledging the challenges we face, should we be continuously defined by them? In another discussion with a classmate from Europe, he expressed his passionate desire to live and work in sub-Sahara Africa. Excited, I asked why, hoping to hear perhaps Africa’s climate, fashion, music, was the allure. Apologetically he said: I am in love with the problems”. We owe ourselves and the world a duty to reclaim, own and tell our stories. Without this sedulously undertaken, we will internalize, live out and perpetuate these narratives and stereotypes. Let me conflate this with a closely related challenge, the paucity of data to assess impact of government policies and interventions. For a class paper to evaluate government welfare schemes, I researched Nigeria’s poverty relief initiatives such as cash transfer programs. For such a salient government intervention, publications and research papers were sparse and inadequate. Even where they exist, they articulated problem statements by rehashing aphorisms, making speculative, sweeping, non-evidence-based statements such as “woeful failure and disappointment”, “well-known”, “chaotic, epileptic, scandalous”, almost exhausting adjectives for unsatisfactory performances. With this information gap, I opted to research another country

with readily available and accessible publications. University dons often recommend strong integration between town and gown. Pragmatically, how can government encourage and incentivize the academia to undertake policy-relevant research for government programs and interventions? Similarly, civil servants, who in carrying out their mandate generate tonnes of data. While, I acknowledge the resource requirements of such endeavours, are there low hanging fruits that may be explored and leveraged upon? My third reflection is on how the MPP broadened my appreciation of Nigeria’s policy problems to embrace global, historical and multidisciplinary contexts. Given the basic social amenities Nigeria still grapple with, it is understandable that these challenges dominate our policy debates and discussions. On average, we may be forced to understand our problems from a state-centred, diversity-induced lens. Without denying the impact of the afore mentioned, this outlook may limit the available options for change. Understanding and situating our challenges within broader global policy contexts has become more important than ever in devising viable and sustainable solutions. For instance, before the MPP, climate change and its impact on sustainable food supply, security, health did not resonate with me. With a traditional state-centred approach, our understanding, analysis, and recommendations may be simplistic, barely scratching the surface. Looking beyond this perspective, I recognize government’s limitations vis-a-vis influence of international organizations and other non-state actors (e.g, Donors, Transnational corporations, etc. Hence, we can robustly demystify, unpack this much-talked-about and least-acted upon “problem with Nigerian”. Osho is Africa Initiative for Governance Scholar

T H I S D AY • WEDNESDAY, OCTOBER 27, 2021

EDITORIAL WHIMSICAL LARGESSE FOR TEACHERS The special package for teachers in face of present diﬃculties is curious

pparently to encourage Nigerians to take up career in teaching, the federal government announced during the recent World Teachers Day that those studying education in public universities would be paid N75,000 stipends every semester. Similarly, students of colleges of education are also billed to receive N50,000 per semester. But like a similar package announced for teachers during last year’s commemoration day, many have described the current incentives as a populist idea that may not be implemented. To be sure, teachers need all the encouragement they can get to take their work seriously. In societies that value quality education, high premium is placed on teachers as they are well-remunerated. In Nigeria, the reverse is the case. Many take to teaching for want of anything else to do. It is a job of last resort. They are poorly paid and hardly regarded in the society. Yet these are people who shape the future of the nation and beyond. “Only MANY OF THE STATES ARE great teachers can HIGHLY INDEBTED AND produce excellent peoMANY ARE INCREASINGLY ple and students that will make the future FINDING IT DIFFICULT of our country great,” TO EVEN PAY TEACHERS said the Minister of THE MINIMUM WAGE OF Education, Adamu N30,000 AGREED UPON Adamu. “A positive or YEARS AGO negative inﬂuence of teachers on any child will have effect on that child. Therefore, the federal government is ensuring access to quality education”. However, the new welfare package announced for teachers by the federal government is being viewed with cynicism. The National Association of ParentsTeachers Association (NAPTAN) has rejected the offer outright, arguing that the proposed amount to the students is higher than the minimum wage which many states have not been able to implement. “Is the federal government aware that the number of students studying education-related courses is in multiple

Letters to the Editor

thousands?”, asked NAPTAN publicity secretary, Ekundayo Ademola. “Also, after being paid in school, do we have job placements waiting for them?”

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

he same cynicism greeted last October’s special salary package and other pecks for teachers, including the increase of their years of service from 35 to 40, and retirement age from 60-65 years. While the rationale of attracting quality teachers to the classrooms is good, the federal government did not plan where the funds to implement the programme would come from. The states and local governments that own these schools were not even consulted before this major policy decision. Yet it is a burden many are ill-prepared to bear. For one, many of the states are highly indebted and many are increasingly finding it difficult to even pay teachers the minimum wage of N30,000 agreed upon years ago. The states have been agitating for a review of the revenue allocation formula to pick up their mounting bills. Besides, the elongation of service year from 60 to 65 years in the face of mass graduate unemployment of teachers and others is misplaced. Even worse, education is on the concurrent list, which makes it mandatory for states to be brought into the picture, but the federal government did not consider it important. “The clamour for a new revenue formula by states has not received any attention by the federal government despite the obvious need for the review,” said Rivers State governor, Nyesom Wike. “They are rather imposing a new financial burden on the states without consulting them.” Ironically, one year after the federal government’s pledge, the special package is yet to be implemented even in its 104 Unity Schools. Last week, the secretary and chief executive of Teachers’ Registration Council of Nigeria (TRCN), Josiah Ajiboye, said the implementation of the new salary package will commence in January 2022. We urge the federal government to desist from announcing cynical decisions it has neither the power nor the resources to implement. Populist pronouncements at a time like this is not a responsible way to offer leadership.

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.

JAILBREAKS AND BIOMETRIC DATA OF INMATES

he Ministry of Interior has collected the biometric data of more than 75,000 in Nigeria Correctional Centres. In the face of several attacks on Nigeria Correctional Centres, the correctional service has introduced software to collect the biometric and personal profiles of the inmates. The Minister of Interior, Rauf Aregbesola, has assured Nigerians that there is no hiding place for any inmates that escaped from correctional facilities. “This is because, we have the records of all the inmates, including their biometric data, which are being forwarded to the Interpol,“ he said. This will make it impossible for them to travel, apply for any travel document, engage in any financial transaction or present themselves at any border post in any country in the world. “They are fugitives and will remain on the run until we apprehend them; we shall surely apprehend them,” the minister said. He said security agencies were already on their trail and would not rest until “they are able to bring in the last one, dead or alive”. Aregbesola and the Nigeria Correctional Service have developed a biometric-enabled inmate database management system. The biometric data base was created to checkmate jailbreaks as aftermath of EndSARS protests last year. It was first rolled out as a test in late 2020. By implementing a modern electronic database that captures prisoners’ biometric details, Nigeria can achieve a more efficient management of the correctional system with reduced errors. Correctional Service employees can use a desktop application for all- prisoner activities, such as admission, sending prisoners to court hearings, transferring prisoners to another prison or hospital, release on bail or acquittal. When new inmates arrive, their fingerprints will be run in the database to see if they are already part of the system. Personal

details will also be collected. The biometric database was officially introduced by the Interior Ministry in late 2020. Correctional centres’ officials have collected and stored the fingerprints and photographs of inmates as well as visitors to correctional centres across Nigeria. The system of storing biometric data was started after officials realised that a number of criminal conspiracies are being hatched within the prison premises. Biometric data have been extended to all the major prisons to maintain data about criminals and their visitors. This will help the police keep track of every criminal. The NCS will share the biometric data with the police whenever needed. The biometric equipment and a small camera are attached to a computer. When a prisoner enters the premises, he or she will be frisked and asked to sit in front of the computer. The camera will take a photograph of the prisoner and the left thumb impression will be recorded using the special equipment. The same equipment is also at the visitors’ hall in the prison. A prison official at the visitors’ hall collects the thumb impression and the photo of each visitor. Criminals and gangsters are meeting their associates in prison and planning crimes. If any gangster or ex-convict is meeting a criminal in prison, their personal profile will be entered in the computer. Once they give their fingerprint, the system will show their profile. The NCS can keep track of criminals and curb crimes before they are sentenced. Officials say the system has been strengthened and is foolproof. “When a prisoner gets bail, the jail officials will analyse the records stored in the system and the court records mentioned in the bail order. If both details do not match, the prisoner will not be let off,” said an official. Inwalomhe Donald, inwalomhe.donald@yahoo.com

COLLAPSING MONUMENTS AT THE KING’S SQUARE

ADONOR writes to bring to the attention of the authorities in Edo State government the bad state of nearly all the sculpted works strategically erected around the Ring Road, King’s Square in Benin City. Apart from their historical significance, these works of art have bee n known to attract local and foreign visitors to Benin City, Edo State. They have brought respect and admiration to the cultural antecedents of the Ancient Benin Kingdom, and added value to its people. Two of them, one at the entrance of Forestry Road and the other at the Lagos Street entrance are already an eyesore. The image at the centre of the King’s Square, depicting the might and power of Benin tradition and culture is already overgrown with weeds, and has become a bed space for lunatics and beggars. WDONOR recommends that apart from refurbishing these images, a beautification plan that includes the construction of powerful neon lights around these images be quickly put in place. Bob MajiriOghene Etemiku, WADONOR…cultural voice of the Niger Delta

WEDNESDAY OCTOBER 27, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY OCTOBER 27, 2021

MIDWEEKPOLITICS

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

Andy Uba’s Towering Conﬁdence Vanessa Obioha writes that the All Progressives Congress candidate for the November 6 governorship election in AnambraState, Andy Uba, exudes a conﬁdent disposition that unsettles his rivals

Uba

f an average Igbo man is proud, then the average Anambra man is overconfident. The reason for his disposition is not far-fetched. Of all the South-eastern states, Anambra is believed to be home to many millionaires. In fact, many believe that the state has the largest number of millionaires per square kilometre in the country. If one should look at the lavish lifestyle of some of its sons like the popular hospitality mogul Obi Iyiegbu, better known as Obi Cubana, who made a mess of money during his mother’s burial a few months ago, or the jaw-dropping houses that line the streets of Nnewi, one is likely to conclude that the state mints millionaires every second, thus, the pomposity. Therefore, when Andy Uba, the All Progressives Congress (APC) governorship candidate for the upcoming election in Anambra State thumped his chest that he knows what Anambra people want and is ready to serve them, one can sense that self-confidence peculiar to the South-eastern region. Of course, politicians are known to exhibit such certainty but Uba, who once occupied the Number One seat in the state, for a brief period of seven days, oozes so much confidence that his unruffled mien cannot hide his ego. In a way, the influential politician has every bragging right. Who else in the state enjoyed the lofty status as the right-hand man of former President Olusegun Obasanjo like Uba? It is whispered that he pulled so much weight that his house became a Mecca of sorts to those who wanted to be in the good books of the former president during his tenure. In fact, at a recent meeting with journalists, Uba bragged that he personally recommended Professor Charles Soludo, the current governorship candidate of the All Progressives Grand Alliance (APGA) for the apex role of Governor of the Central Bank of Nigeria. According to him, Obasanjo wanted to

Soludo replace the then governor of the bank Joseph Oladele Sanusi and had a list of names sent to him but Uba pleaded he should give Soludo a chance. Uba was so influential that Obasanjo turned down other names including those from his Vice President then, Atiku Abubakar. By revealing this, Uba, in a way, is subtly reminding Soludo that he made him who he is today. It is rumoured that when Soludo’s governorship ambition was whispered to Obasanjo, he was shocked to find out he was contending with the man who uplifted his status. It is not the first time that Soludo is contesting for the governorship in the state. Mired in controversies, Soludo was picked to represent the Peoples Democratic Party (PDP) in the 2010 elections. He, unfortunately, lost to Peter Obi who was the APGA candidate. Again, his emergence as the candidate for APGA this year was not without controversies. Soludo emerged as the party’s flag bearer after a faction of the party that supports the incumbent gov-

ernor Willie Obiano elected him at the party’s primary election held on June 23. He reportedly garnered 740 votes to defeat other aspirants. However, his candidacy was challenged, mainly by Hon. Chukwuma Umeoji, a member of the House of Representatives, who emerged governorship candidate of another faction of APGA, but the Supreme Court recently affirmed him as the right candidate of the party. Like Soludo, Uba’s emergence has its share of political drama. Not a few believe that the primary that produced him as the party’s candidate was a sham. To this day, opinions still hold sway that no primary election was held. As the two opponents head into the race, Uba sees no threat in Soludo. After all, he is just one in a thousand that the two-time Senator has helped. Uba’s philanthropic gestures extend beyond the state and this, he believes, is working in his favour. He tells whoever cares to listen that none of his contenders has helped the state as he has. This, he

As the two opponents head into the race, Uba sees no threat in Soludo. After all, he is just one in a thousand that the two-time Senator has helped. Uba’s philanthropic gestures extend beyond the state and this, he believes, is working in his favour. He tells whoever cares to listen that none of his contenders has helped the state as he has. This, he said, puts him at an advantage. According to him, he has a formidable structure in the state that is now working for him

said, puts him at an advantage. According to him, he has a formidable structure in the state that is now working for him. This becomes more evident as more politicians leave their parties to queue behind him. Perhaps, this is the source of his towering confidence. More than once at the meeting with the press, he boasted about his popularity in the state, claiming that APC will certainly take over the state from APGA on November 6 when the elections take place. He made a mockery of the governor losing his key members like his deputy governor Nkem Okeke who joined APC a few days ago. His defection spells doom for Obiano in the eyes of Uba. More people, he said, will join the party, including Obiano’s wife if he is not careful. For Uba, it is important that he wins the state for his party. Already, the President, Muhammadu Buhari has indicated an interest in seeing how he wins the election. If this mandate is giving Uba a restless night, one cannot easily decipher. What is certain however is that Uba is determined to occupy the position which he only enjoyed briefly in 2007. He already has bigger plans for the state that will whip it back in shape because according to him, the governor has done poorly. His vision captures an improvement in the education sector, building infrastructures to boost the economy of the state, improving security by engaging with different heads, as well as improving the health sector. Beyond his lofty dreams, Uba strongly believes that having APC rule the state will quicken the pace of development. As far as he is concerned, nothing is more important than aligning with the party at the centre. Whether Uba will eat the humble pie or swagger into the office as the winner of the November 6 election is yet to be ascertained, but what remains visible, is that the two-term Senator is very confident of his victory in the election.

T H I S D AY ˾ WEDNESDAY OCTOBER 27, 2021

POLITICS

Voter Asks Court to Disqualify Soludo, Uba, Ozigbo, Ubah from Anambra Election

GOVERNANCE IN PHOTOS

Acting on his constitutional right, a voter in Anambra State, Ifeanyichukwu Okonkwo has instituted court processes to stop candidates of the leading political parties from participating in the Anambra governorship contest, writes Nseobong Okon-Ekong

L-R: Executive Director, Grace Schools, Mrs. Olatokunbo;Nigerian Director,Confucius Institute, University of Lagos, Prof. Chidi Maduagwu; and Chinese Director of the Confucius Institute, Prof. Chao Longling, at the presentation of the partner institution award to Grace Schools to mark Chinese/ and Nigerian independence celebration by the Confucius Institute in Lagos recently

Ubah

Ozigbo

contesting the November 6 election pursuant to subsection (6) of Section 31 of the 2010 Electoral Act as amended. “*And order of mandatory injunction mandating/directing the INEC to delist the defendants and barring them from presentment and participation in the November 6 election. “*An order of declaration that the information contained in the affidavit presented by 2nd, 4th, 6th and 8th defendants to INEC Form CF001 and other details on the nomination is false and misrepresentation of facts about their personal particulars or information of the candidates. “*An order pursuant to section 31(6) of the 2010 Electoral Act, as amended, disqualifying the 2nd, 4th, 6th and 8th defendants as candidates from contesting the November 6, Anambra State governorship election.” Regarding the 1st respondent, the plaintiff averred that since “the appointment of the Acting chairman and members of the caretaker committee by APC National Working Committee, it is a well known fact that the appointing body (APC NWC), never met again to extend the tenure of the Caretaker Committee,” contending that such acts carried out by such body has not been determined by any curt of law. He noted that the APC acting national chairman is a tenured public officer, who doubles as well in a tenure of six months, which was further extended for another six months, “and is aware that as a state governor, shall not during his current period in office as governor hold any other executive office, or paid employment in any capacity whatsoever sit at the helm of affairs of APC Anambra State governorship primary election that purportedly took place on June 26, 2021.” Citing section 87(1) of the 2010 Electoral Act, the plaintiff stressed that the statute stipulates that candidates of political parties at an election can only be nominated at elective democratic process, adding that the law cast a duty upon the 9th and 10th defendants to monitor and keep record of the activities of political parties. He therefore referenced the INEC report which stated that APC did not hold governorship primary in Anambra State on June 26, 2021, adding, “INEC under the statute is duty bound, where APC or a political party fails to comply with the provisions of the Electoral Act in the conduct of its primaries, its candidate for election shall not be included in the election for the particular position.” In the case of APGA and Soludo, the plaintiff, apart from citing the INEC report that the party did not comply with the 21 days notice to the commission before the conduct of its primary, stressed that the party’s candidate did not resign or take a leave of absence from his appointment into the Presidential Economic Advisory Committee (PEAC).

voter, Mr. Ifeanyichukwu Okonkwo, has approached the Federal High Court, Awka, for an order disqualifying four candidates and their parties from the November 6,Anambra State governorship election. Defendants in the suit No FHC/AWK/ CS/71/2021, which comes up today (October 26, 2021) include, All Progressives Congress (APC); Senator Andy Uba; All Progressives Grand Alliance (APGA); Prof. Chukwuma Soludo; Peoples Democratic Party (PDP); Mr. Valentine Ozigbo; Young Peoples Party (YPP); Senator Ifeanyi Ubah; Resident Electoral Commissioner (REC), Anambra State; Independent National Electoral Commission (INEC). The plaintiff, who attested that he is a politician, democracy activist and duly registered by the 10th defendant as a voter for the November 6 election, declared that he is aggrieved by the “flagrant violations of the 2010 Electoral Act (as amended) and the Nigerian constitution by the defendants.” In his statement of claim, the plaintiff further averred that his grievances against the defendants “touches on the information given by the defendants and their prospective flag bearers for the November 6 gubernatorial poll, published on August 6, 2021.” Other claims by the plaintiff include: “It is constitutionally decreed that other than the 1st (APC), 3rd (APGA), 5th (PDP) and 7th (YPP) defendants, who are political parties, no association shall canvass for votes for any candidate at any election or contribute to the funds of any political party or to the election expenses of any candidate at the November 6 governorship election in Anambra State. “That the suit of the plaintiff against the defendants relates to nominations and sponsorships of candidates for the November 6 governorship election in Anambra State, and more so on veryconcrete and reasonable grounds, which the plaintiff verily believe that some of the information supplied to the 9th and 10th defendants by both the defendants and their respective candidates for the election are manifestly false, misleading and in flagrant violation of their respective party guidelines in the governorship primaries, the Electoral Act and Nigeria’s constitution.” The plaintiff, Okonkwo, stated that being aware that the constitution empowers any person, who has reasonable ground to believe that any information given by a political party or its candidate like the defendants submitted to the 10th defendant is false, to file a suit at the Federal High Court or a High Court against such person/party and seek a declaration that such information is not true. While stressing that the sanction for such false facts is disqualification of the candidate/political party, Okonkwo prayed the court to grant him the following reliefs: “*An order disqualifying the 2nd, 4th, 6th and 8th defendants, the candidates of the 1st, 3rd, 5th and 7th defendants from

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

L-R: Ekiti State Governor, Dr kayode Fayemi; Lagos State Governor, Mr Babajide Sanwo-Olu; Niger State Governor, Abubakar Sanni Bello and former National Assembly Member, Senator Tokunbo Aﬁkuyomi; during the inauguration of Ekiti State Governor’s Lodge/Liaison Oﬃce in Ikeja GRA, Lagos State

L-R: Senate Minority Leader Enyinnaya Abaribe, Valentine Ozigbo, the ﬂagbearer of the Peoples Democratic Party (PDP) for the Nov 6 governorship election, and Mr. Peter Obi, the Vice Presidential candidate of the PDP in the 2019 and the immediate past governor of Anambra State pictured at the Supreme Court recently

Osun State Governor, Mr. Gboyega Oyetola, administring vaccine to children, during the Inauguration of ‘Outbreak Response to Circulating Vaccine Derived Polio, at Vaccine Centre, Ayegbaju, International Market, Osogbo

T H I S D AY ˾ WEDNESDAY OCTOBER 27, 2021

FEATURES

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

Harnessing Support for a Generation of Innovators, Entrepreneurs The Sahara Impact Fund, a strategic partnership between Sahara Foundation, Ford Foundation, LEAP Africa and Impact Investment Foundation, was born out of the need to support a generation of innovative solution providers. Chiemelie Ezeobi reports that recently, a cohort of 10 innovators, social enterprises and entrepreneurs from Cameroon, Rwanda, Nigeria and Malawi were churned out while new fellows were inducted

Dr. Anthony Youdeowei, board of trustees member, Sahara Foundation (far left); Pearl Uzokwe, Director of Governance and Sustainability at Sahara Group (second right); and Oluseyi Ojurongbe, Sahara Foundation Manager, with SIF Fellows

L-R: Damilola Asaleye, SIF fellow; Ivie Imasogie- Adigun, head of group HR, Sahara Group; and Olajumoke Ajayi, head of expiration, Asharami Energy

hemed "Moving from Hype to Impact- Youth in Action”, the Sahara Impact Fund (SIF) recently graduated the Resilience Cohort, a group of 10 innovators, social enterprises and entrepreneurs drawn from Cameroon, Rwanda, Nigeria and Malawi. The Sahara Impact Fund is a strategic partnership between Sahara Foundation, Ford Foundation, LEAP Africa and Impact Investment Foundation. The partnership was born out of the need to support a generation of innovative solution providers who will increase access to clean energy and promote sustainable environments. Essentially, this collaboration was targeted at encouraging and supporting the generation of ideas, as well as developing self- sustaining businesses by leveraging on a strong network of committed stakeholders. When the SIF application was thrown open, out of so many applications, 10 persons, tagged 'The Resilience Cohort' were chosen. Over the one- year period, the 10 fellows were taken through blended capacity building sessions before their recent graduation. Sahara Impact Fund In October 2020, Sahara Foundation conceptualised the Sahara Impact Fund (SIF)- a strategic partnership between Sahara Foundation, Ford Foundation, LEAP Africa and Impact Investment Foundation created to support the generation of innovative solutions which will increase access to clean energy and promote sustainable environments. All of these were targeted at accelerating attainment of the SDGs in a manner that results in measurable social impact. According to Oluseyi Ojurongbe, Sahara Foundation Manager, "Born out of the group’s desire to marry scalable impact with commercial viability in the areas of access to energy and sustainable environments, the SIF aims to encourage and support the generation of ideas and developing self- sustaining businesses by leveraging a strong network of committed stakeholders. "The SIF application was open to

The Resilience Cohort

Innovators, social enterprises and entrepreneurs in Africa from Ghana, Nigeria, Cote d‘Ivoire, Kenya, Guinea, South Sudan, Tanzania and Zambia who must have been in existence for at least one year and demonstrate sustainability and scalability. After a month-long call for application, 115 applications were received and later shortlisted to 10 through a three-stage assessment process leveraging the expertise of inhouse Subject Matter Experts. "Over the one- year period, the 10 fellows from Cameroon, Rwanda, Nigeria and Malawi were taken through blended capacity building sessions in the form of workshops, webinars, immersion sessions, job shadow programmes, facility tours, cohort meetings

and mentoring sessions. "Specifically, the SIF Fellows took part in 20 Social entrepreneurship workshops, five Social Impact webinar sessions, mentorship sessions, four group coaching calls by SMEs, one-onone strategy and finance sessions and fire chat sessions. During this period, 10 employee volunteers served as mentors to these social entrepreneurs over a six-month period." Graduation After their one year training, Sahara Foundation graduated the inaugural cohort in a ceremony where outstanding fellows were recognised. According to Pearl Uzokwe, Director of Governance and

Born out of the group’s desire to marry scalable impact with commercial viability in the areas of access to energy and sustainable environments, the SIF aims to encourage and support the generation of ideas and developing self- sustaining businesses by leveraging a strong network of committed stakeholders

Sustainability at Sahara Group, "as we celebrate our outgoing Fellows during this year’s awards and graduation ceremony, we recognise their unorthodox innovations across the continent. "Amidst the challenging climate in 2020 and gradual recovery in 2021 from the lockdown occasioned by the pandemic, young people across the continent ran their social enterprises and implemented projects with enthusiasm. A SIF fellow said during the graduation ceremony “doing good does you good” and this is absolutely true. "Today, we celebrate the achievements of our finalists and congratulate them on the wonderful and hopefully transformative experience over the fellowship period in-spite of the pandemic. "Sahara Group and the Sahara Foundation remains committed to supporting and inspiring innovative ideas /initiatives by creating fit for purpose opportunities in our countries of operation." Beyond the graduation, SIF recognised outstanding fellows who had distinguished themselves during the one year period and monetary rewards were dished out depending on the category. While some won as much as 10,000 dollars others won 3,000 dollars. For the winners, it was such a huge pat at the back and all the encouragement they need to do more. About Sahara Foundation Working with the motto of "Bringing benevolence to life" Sahara Foundation, is the corporate citizenship vehicle of Sahara Group across the energy conglomerate’s locations in Africa, Europe, Asia and the Middle East. According to Uzokwe, at Sahara, the joy of energising aspirations and bringing energy to life, especially when it involves youths, remain sacrosanct. Essentially, Sahara Foundation is committed to supporting young people by creating platforms that provide an enabling environment for their development while promoting access to clean and affordable energy in Africa.

T H I S D AY ˾ WEDNESDAY OCTOBER 27, 2021

FEATURES

Commemorating 26 Years of C.O.PE Chiamaka Ozulumba reports that eminent persons, survivors and their families recently gathered to commemorate 26 years of existence of Care. Organisation. Public Enlightenment, C.O.PE, which is Nigeria’s foremost breast cancer awareness and advocacy non-governmental organisation dedicated to reducing the mortality rate of breast cancer in Nigeria through screening, counselling, referral, education, enlightenment and nurturing

ancer is a leading cause of death worldwide, accounting for 7.6 million deaths and around 13 per cent of all deaths in 2008, according to the World Health Organization (WHO). Deaths from cancer worldwide are projected to continue to rise to over 13.1 million in 2030, while about 70 per cent of all cancer deaths reportedly occur in low-and middle-income countries. The global health body further reveals that breast cancer is the most common cancer in women worldwide, with 2.26 million cases recorded in 2020. It is the fifth leading cause of global cancer deaths. In Nigeria, breast cancer is said to represent about 12 per cent of all new cancer cases and 25 per cent of all cancers in women. Additional statistics reveal that one in 12 women is expected to be diagnosed with breast cancer with many cases occurring in premenopausal women. One out of eight women also reportedly has lumps in the breasts. The gathering of eminent persons, survivors and their families, and members of Corporate Nigeria at the Ikeja, Lagos office of Care. Organisation. Public Enlightenment (C.O.PE), the Nigeria’s foremost breast cancer awareness and advocacy non-governmental organisation, on Thursday, October 14, was a further affirmation that breast cancer challenge is real and a long battle to fight. The occasion was the commemoration of the 26th anniversary of C.O.PE, the leading not-for-profit dedicated to reducing the mortality rate of breast cancer in Nigeria through screening, counselling, referral, education, enlightenment and nurturing. The recollections at that event were either of direct experience or shared story of loved ones or friends that have gone or going through the disease. However, hope, empathy, love and survival tips emerged amidst the hardship and losses that can result from breast cancer. The event indeed, served to celebrate the Founder/Chief Executive Officer of C.O.PE, Mrs. Ebunola Anozie, and her NGO for 26 years of raising awareness and giving succor to breast cancer victims in Nigeria. It was also to raise a stronger voice of urgency to redouble collaborative efforts to combat the killer disease and decrease the number of those infected. Anozie’s inspiration to establish C.O.PE was a personal experience: her mother died of colorectal cancer in 1970, the father died of cancer of the stomach in 1995, while she also had a scare late September in 1995 after having an uncomfortable feeling in her breast. Although doctor allayed the fear after undergoing a medical check, she said ‘‘these personal experiences led to the birth of Care Organization Public Enlightenment in October 1995.’’ And she has reasons to celebrate the success story having seen several women overcome breast cancer, more women presenting themselves for breasts examination and speaking out, and corporate and public organisations and private individuals becoming more aware and involved in fighting the disease. Mrs. Anozie, said through increased awareness and advocacy, C.O.PE has screened more than 50,000 women across over 10 states in Nigeria beside Lagos, while disclosing that plans were underway to acquire a breast cancer screening mobile van and the construction of a permanent operation base as part of steps to increase the number of beneficiaries of its breast cancer intervention next year. While disclosing that her organisation attends and renders assistance to breast

Founder, C.O.PE, Mrs. Ebun Anozie

cancer patients every day, she said that the free monthly breast screening and counselling for women, which used to hold once in a month, would now hold twice monthly. ‘‘Over the years in Nigeria, we have also screened more than 50,000 women. Data from our breast ultrasound scan screening initiatives, which spans over two decades, shows that one in 12 women is expected to be diagnosed with breast cancer and many cases occur in premenopausal women,’’ she stated. She also said that C.O.PE has increased its capacity in providing free screening and support to breast cancer patients with the support of corporate bodies and individuals particularly with the donation of the first-ever digital breast cancer screening machine by Polaris Bank and another by Leadway Assurance. Some of the breast cancer survivors, whose post-survival years ranged from eight to 23 years, were present at the event. Narrating their experience and testimonies, they expressed appreciation to Mrs. Anozie and C.O.PE for the moral and financial

assistance through the pre, treatment and post-operation phases of breast cancer, stating that the organisation has given them reasons to live again. A survivor, Mrs. Nnenna Obasi, who said she discovered a lump in one of her breasts in 2013, stated that C.O.PE went with her through the harrowing journey and today, she has got back her life and confidence. ‘‘It was a harrowing journey, but with the support of Mrs. Anozie and C.O.PE, I am here today. I live a normal life, I am healthy. This is my eighth year as a breast cancer survivor,’’ she enthused. Also, a survivor, Mrs. Bolanle Uwaoje, disclosed that although she had removed lumps in her breast three times, her breast cancer case began in 2014 when doctors confirmed her worst fear, but she was thankful to Mrs. Anozie for providence that crossed their path. Her words: ‘‘The compassion, care and love that I received through Mrs. Anozie cannot be quantified. I am a living testimony of how much God has used her to give me hope and reason to live a happy woman. It’s

Through increased awareness and advocacy, C.O.PE has screened more than 50,000 women across over 10 states in Nigeria beside Lagos, while disclosing that plans were underway to acquire a breast cancer screening mobile van and the construction of a permanent operation base as part of steps to increase the number of beneficiaries of its breast cancer intervention next year

going to eight years now; I am fine and hope that it will continue to be fine. Thanks to you ma. Thanks to C.O.PE for your support.’’ For Mrs. Anozie, it is not uhuru yet as breast cancer rate in Nigeria remains high due to factors including late presentation, lack of finance due to the high cost of treatment, illiteracy, cultural and religious beliefs, and fear of losing their breasts. ‘‘Unfortunately, more recently, our monthly screenings show that one out of eight women have lumps in their breasts. Some women who have cancerous lumps in their breasts refuse to use orthodox medicine and seek traditional means or go to religious houses, while others don’t do anything due to lack of finance or fear of losing their breast,’’ she expressed concern. She restated her call on the Federal Government to set up a National Breast Cancer Centre in Nigeria, encouraged all women to do regular breast selfexamination while women 40 years above should go for mammogram. Men aged 40 were also advised to go for prostate cancer check-up, and all adults do regular medical check. The breast cancer advocate while soliciting more support for C.O.PE and breast cancer patients, encouraged younger generation on volunteering, and urged parents to imbibe the culture in their children from an early age. A 10-minute video on Breast SelfExamination (BSE) that teaches women the step-by-step of breast self-examination, and enabled by Pfizer, was also unveiled during the event. Chairman, Board of Trustees, C.O.PE, Emeritus Prof. Frank Osato Giwa-Osagie, commended Anozie for her courage and commitment to the vision of the NGO. He said through her unrelenting advocacy, awareness and support to breast cancer patients, she has given hope and joy to many families that have given up because of the devastating effect of cancer especially breast cancer. Going down the memory lane, he said, ‘‘The first day she walked into my office at the Lagos University Teaching Hospital (LUTH) at Idi Araba, to come and tell me about her vision, and that she had made me the chairman of the board, I was amazed at her audacity. I told her, I am an O&G (obstetrics and gynaecology) professor of medicine, I am not an oncologist. She said, it did not matter, you’re the one I have chosen to chair the board. I said, what kind of a rare human being is this?’’ Continuing, he said, ‘‘Twenty-six years and we are still counting. Ebunola has demonstrated uncommon courage and bravery giving back to humanity through her NGO. By providing advocacy, mobilising resources and giving care to persons suffering from breast cancer, she has restored joy and hope to many families. And that is the motivation that has made me to stand by her and remain with her all these 26 years. It’s being an amazing journey. We can only wish her more successes in the years to come.’’ Representatives of corporate organisations and partners commended Mrs. Anozie for her commitment, hard work and consistence that have made the NGO an enduring legacy brand, wishing her more fruitful years as well as assured her of continuous support. The event also featured presentation of awards to five key corporate organisations namely: Polaris Bank, Variant Advisory, Union Bank, Leadway Assurance and Access Bank in appreciation of their exceptional support to C.O.PE over the years.

WEDNESDAY OCTOBER 27, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY, OCTOBER 27, 2021

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

O C T O B E R

S & P INDEX

1 2 , 2 0 2 1

S & P INDEX

EXCHANGE RATE

OBB

14.00%

CALL

INDEX LEVEL

565.29%

1/4 TO DATE

6.06%

N412.08/ 1 US DOLLAR*

OVERNIGHT

14.50%

1-MONTH

1-DAY

–0.11%

YEAR TO DATE

– 15.66%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.41%

With Capacity to Boost Deposits Enhanced, Zenith Leads Banking Sector With 69.9% Liquidity Ratio Wema Bank lowest with less than 30% Banks required to maintain 30% minimum

Darasimi Adebisi With its customers deposits maintaining an upward trend, Tier-one lender, Zenith Bank Plc lead the Nigerian banking sector with 69.9 per cent liquidity ratio as at half year ended June 30, 2021 results. Under the current guidelines, the Central Bank of Nigeria (CBN) requires that banks maintain minimum liquidity ratios as follows: Deposit Money Banks (DMBs): 30 per cent; merchant banks: 20 per cent; and non-interest banks: 10 per cent. Liquidity ratios are a class of financial metrics used to determine a bank’s ability to pay off its shortterm debts obligations. It is the total specified liquid assets of a bank

divided by total current liabilities. Analysis of results of deposit money banks in the country showed that the bank in 2020 financial year reported 66.2 per cent liquidity ratio. The bank had while commenting on the development stated, “Prudential ratios such as liquidity and capital adequacy also remained above regulatory thresholds at 69.9per cent and 22.0per cent respectively.” Analysis of the bank’s results for the period under review sowed that it increased total customer deposits by eight per cent to close June 30, 2021 at N5.77 trillion from N5.34trillion it closed in 2020 financial year to demonstrate growth in the bank’s market share. Out of the 10 investigated banks

by THISDAY, Wema Bank Plc has a liquidity ratio below the regulatory requirement. The bank closed H1 2021 with a liquidity ratio of 25.1 per cent as against 30 per cent it closed 2020 financial year. The Monetary Policy Committee of the CBN had disclosed that the liquidity ratio in the banking sector was above prudential limits at 41.3 per cent as at June 30, 2021. Commenting on the development, Prof. Hassan Oaikhenan of the Department of Economics, University of Benin expressed that customers deposits is very critical in determining a bank’s liquidity ratio. According to him, “A bank with higher capacity to boost deposit will

have higher liquidity ratio than the one with lower deposit mobilisation capacity. We know Zenith bank has covered the market shares than Wema Bank in terms of deposit mobilization.” Speaking in the same vein, the Vice President, Highcap Securities, Mr. David Adnori stressed that the statutory required liquidity ratio for banks is 30 per cent, maintaining that for Zenith Bank to have a liquidity ratio above 60 per cent is an interesting development. He explained further that. “If a bank has investment opportunities in the economy, a major portion of that fund that constitutes liquidity ratio is expected to be invested in such investments. That will yield

income for the bank for increase shareholders returns on investment and expand in branches network. “The bank can invest in government bond, treasury and extend credit to customers. There are other areas of investment. However, if a bank has not done all these, it means Zenith Bank is holding a lot of liquid assets in their coffer. “Is either the management does not have confidence in the operating environment or they are not confidence if they plow into an investment, they yields will be justifiable. It is unexpected for banks to have a very high liquidity ratio but it must be maintained above the regulatory requirement which is 30 per cent.”

On Wema Bank with a liquidity ratio of below 30 per cent, Adnori stated that the ratio is below CBN’s requirement and it is a warning signal “If a bank liquidity ratio is below regulatory requirement it means their cover for short-term deposit liabilities is very low and it means short-term deposit the bank carries has been seriously eroded. The bank has to look for more liquid assets to buff up its liquidity ratio.” Analyst at PAC Holdings, Mr. Wole Adeyeye expressed that higher liquidity ratio means a bank stands a chance to its immediate obligations. On Zenith bank, he said: “It is expected for the bank to have liquidity ratio above 60 per cent due Continued on page 26

FG to End Spending on Barite Importation, Says Effort Will Lift Foreign Reserve by $300m Kasim Sumaina in Abuja The Minister of Mines and Steel Development, Mr. Olamilekan Adegbite has disclosed that the Made in Nigeria Barite, which is about to be launch this week will shore up the nation’s foreign reserve by about $300 million. He also said that with the launch, spending billions for importation of barite will stop, stating that government is ready to block all loopholes as the country looses $300 million annually for the importation of the essential commodity into

the country. Barite, a mineral resources consisting of barium sulfates, is generally white or colorless, and is the main source of the element barium used in the oil and gas industry. The Minister said the efforts will promote Nigerian Barites, boost the economy and ensure steady supply to other African nations like South Africa and Ghana. As the barite production increases, he said he will seek the approval of the Federal Executive Council (FEC) as well as Council of State to decide

on the ban and tariff hike on it. Adegbite, while briefing the press in the ministry’s headquarters in Abuja, hinted that the federal government in actualising its mandate to move the economy from dependence on crude oil and grow the Gross Domestic Product (GDP) of the country. The federal government, he added, is set to develop the downstream sector of the petroleum sector by launching the made in Nigeria Barite. The product, he revealed, has been tested, “and is of high quality. We will be exporting to

neighbouring countries like Ghana and South Africa.” According to him, the launch of the made in Nigeria Barite, which has been refined to meet the American Petroleum Institute specification, shows the ministry’s determination to ensure that the Downstream Policy of the Sector is actualised. He added that, “no country ever develops by selling raw materials. Nigeria will generate more economic value by processing it’s raw materials.” He further explained that efforts

have been made before now to have a locally milled Barite but government was not carried along. The process, according to the Minister, collapsed because of the product was not properly bagged. He noted that to ensure continuity, it will commission an Open Market Place Portal that will link all stakeholders along the Barite Value Chain, stating that the portal would encourage miners as they can now compete internationally. In his remarks, the Minister of State, Mines and Steel Development, Mr. Uchechukwu Sampson Ogah,

noted that the feat would create great development opportunities for the miners as well as create employment in the country. Ogah reiterated the ministry’s resolve to ensure that the President Muhammadu Buhari’s administration’s mandate to move the economy from oil to Mining and Agriculture is achieved. In her address, the Permanent Secretary, Dr. (Mrs) Oluwatoyin Akinlade, commended the Ministers for their leadership that has crystallized into a successful launch of the made in Nigeria Barite.

M A R K E T D ATA A S AT T U E S D AY, O C T O B E R 2 6 , 2 0 2 1 FGN BONDS DESCRIPTION 10.296 FGNSB 13-NOV-2021 13.390 FGNSB 14-NOV-2021 9.091 FGNSB 11-DEC-2021 13.402 FGNSB 12-DEC-2021 7.144 FGNSB 15-JAN-2022

Price

Yield

BILLS Change (%)

MATURITY

OTC FX F U T U R E S

Discount Yield Change (%)

100.36

3.20

0.00

NTB 11-Nov-21

3.25

3.25 0.00

100.55

3.21

0.00

NTB 25-Nov-21

3.35

3.36 0.00

100.70

3.64

0.00

NTB 13-Jan-22

3.73

3.76 0.00

101.27

3.65

0.00

NTB 27-Jan-22

4.29

100.65

4.17

0.00

NTB 10-Feb-22

4.34

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

NGUS OCT 27 2021 420.93

NGUS NOV 24 2021 422.38

NGUS DEC 29 2021 423.83

4.34 0.00

NGUS JAN 26 2022 425.28

4.39 0.00

NGUS FEB 23 2022 426.73

C Ps MATURITY

Discount Yield

Change (%)

CMBL CP XII 31OCT-21 CMBL CP XVII 15-NOV-21 FSDH CP III 16NOV-21 NBRP CP XIV 25NOV-21 PARP CP IA 26NOV-21

4.05

4.06

0.00

5.12

5.13

0.00

6.49

6.52

0.00

6.08

6.11

0.00

8.81

8.88

0.00

WEDNESDAY, OCTOBER 27, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

SHOWCASING LAKOWE HEIGHTS…

L-R: Senior Sales Representative, Mixta Africa, Ezigbo Ezeh; Special Guest, Dr. Ade Ogunnaike; another Special Guest, Hon. David Adekunle Ogunnaike; Country Manager, Mixta Africa, Mrs. Shade Hughes; Special Guest, Mrs. Kehinde Lambo and Sales Representative, Naomi Babalola, Mixta Africa, during the official launch of Lakowe Heights at the ETOP UKUTT Lakowe Golf Resorts, Lagos... recently

NDIC: Depositors’ Funds Fully Covered, Calls for Amendments to Aid Faster Recover Nume Ekeghe The Nigeria Deposit Insurance Corporation (NDIC) has assured that under the current insurance coverage of bank account holders in the country, more than 97 per cent of account holders as are fully covered and would be able to recoup their deposits in the event of the closure of a bank. According to the Managing Director and Chief Executive of the NDIC, Mr Bello Hassan, 97.6 per cent of accounts are fully covered under the N500,000 current coverage limit of the corporation, even as he added that the limit is subject to periodic reviews. He stressed that there is a need for an amendment to the NDIC act,

to give the agency more powers to recover and liquate loans and assets. He made this known at the opening ceremony of the 18th edition of the workshop for business editors and Finance Correspondents Association of Nigeria (FICAN), themed, “Enduring Extreme Disruptions: Resilience & Reinvention for Banking System Stability & Deposit Insurance,” in Gombe yesterday. Hassan said: “In 2016, 2017, 2018 and 2019, the total number of accounts in the deposit money banks stood at 83.0 million; 99.1million; 112.0 million and 128.4 million respectively. “Out of these numbers, the N500,000 coverage limit fully covered 99.4; 97.6; 97.5 and 97.6 per cents of accounts, respectively. “What these figures entail is

that only less than three per cent of accounts/depositors are not fully covered by the prevailing coverage limits. The implication of this is that in the event of failure of a bank, above 97 per cent of depositors would be fully covered by the corporation. From the foregoing statistics, it could be observed that the corporation’s deposit insurance coverage limits are not only adequate but robust enough to engender confidence in our banking system. “The IADI Core Principle No. 8 on coverage limits specifically requires that the thresholds should be limited, credible with the capacity to fully cover substantial majority of bank depositors while the rest remain exposed to ensure market discipline. Deposit insurance coverage

should also be consistent with the deposit insurance system’s public policy objective. “In addition, the coverage limits are not designed to be static but subject periodic reviews to ensure that they are consistent with the public policy objectives of the Deposit Insurance System. The Corporation successfully reviewed upward the coverage limits from N50,000 at inception in 1989 to N200,000 in 2006 and N500,000 in 2010.” The NDIC boss said the need to further educate depositors on the issue of coverage is paramount as the coverage limits has always been misunderstood by stakeholders. “Much of the concerns are predicated on the lack of adequate understanding of the principles,

rationale and realities that informed the determination of our coverage limits. It is in that respect that we urge the media through this forum to make Nigerian depositors aware that the NDIC’s maximum coverage limits of N500,000 per depositor per commercial, merchant and, non-interest bank, primary mortgage bank and mobile money operator, as well as N200,000 per depositor per microfinance bank remain the most adequate and robust in the world. “I need to reiterate that, as it is today, these limits are not only adequate, they are also consistent with the extant provisions and recommendations of the International Association of Deposit Insurers (IADI) in its Core Principle for Effective

Deposit Insurance System on the determination of coverage limits.” He stated Responding to questions on the sidelines of the event, he said: “There are a lot of areas that I think the NDIC act needs to be amended. NDIC we are liquidators and what happens is that at the point of liquidation, we try to recover the assets especially the loans and advances that were granted by those banks that are in liquidation.” “One of the challenges that we are facing is slow recovery and if the act is to be amended, I think it is important that the corporation is efficiently empowered to be able to recover those assets as expeditiously as possible so they can pay the depositors.”

Airport Concession: FG to Reject Submission of Request for Qualiﬁcation as Deadline Closes Kasim Sumaina The federal government on Monday said that the deadline given to interested investors, stakeholders, local and international on the Request for Qualifications (RfQ) phase of the Nigeria Airport Concessions programme (NACP), has come to a close at 15:00HRS Local Time (Nigeria), October 25th 2021. Government, through the Minister of Aviation, Senator Hadi Sirika said that in line with the Infrastructure Concession Regulatory Commission (establishment, etc.)

Act, 2005, and global best practice, “hereby informs all stakeholders, local and international, development partners, and members of the media, that the Request for Qualifications (RfQ) phase of the Nigeria Airport Concessions programme (NACP), has come to a close at 15:00HRS Local Time (Nigeria), October 25th 2021.” According to him, “this deadline, announced on September 13, 2021,

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)

have duly notified the ICRC of the milestone, and have stopped receiving submissions in response to the published RFQ. Sirika said, “I would like to use this opportunity to thank all those who participated in the process for their interest and respective submissions. They amount of response to the request for pre-qualification by highly reputable international airport operators across the globe is

indicative of the level of confidence that people have in our concession programme, and, by extension, the nation’s long-term prospects under the administration of President Muhammadu Buhari.” The Aviation minister, however added, “Like we promised from the onset, we remain committed to ensuring the highest level of transparency and accountability till the end of the process. This

is because we believe that the programme is in the best interest of Nigerians as a people, and Nigeria as a nation.” “The Ministry of aviation reminds all stakeholders that this is a multistage programme and that RFQ stage will be followed with a Request For Proposal (RFP) which shall be published and sent directly to qualified bidders for their response.

Expert Lists Beneﬁts of CBN’s Newly-launched e-Naira Emmanuel Adeh in Abuja

Group Business Editor Eromosele Abiodun

after close deliberations with ICRC and the transaction advisers, allowed for a four (4) week extension in response to numerous requests from would-be bidders.” Sirika in a statement made available to Journalists in Abuja by the Director, Public Affairs, Ministry of Aviation, Mr. James Odaudu, stated that the ministry alongside the transaction advisers and the project steering committee,

The federal government on Monday said that the deadline given to interested investors, stakeholders, local and international on the Request for Qualifications (RfQ) phase of the Nigeria Airp PricewaterhouseCoopers (Pwc), a professional services company yesterday said if properly managed, the newly-launched e-naira could add more than $29 billion to Nigeria’s Gross Domestic Product (GDP). Speaking on Arise News Channel, THISDAY’s broadcast arm, the Advisory Partner and Chief Economist, PwC Nigeria, Dr. Andrew Nevin, explained that the implementation would not only ensure cheaper transactions, but would take bank-

ing services to the poorest and most vulnerable in the society. He stated that the launch of the e-naira would cut the cost of printing cash and getting it in the hands of people, stressing that it would also create money in a very simple form and reduce the problems associated with the use of current electronic forms of transactions. While pointing out that the medium would dramatically cut all the complexities associated with existing systems, Nevin described it as a, “one person to one person” platform, adding that a lot of functions could be built into it in the future. “So, it becomes very easy for someone who is in the diaspora, say Wisconsin, to be able to go on a website or an app and instantly

transfer value to their mother in the village in Enugu for example and that’s really a major change,” he stated. In a very short time, the PwC chief economist stated that Nigeria could become the largest country that uses Central Bank Digital Currency, assuring that it was going to be a beacon for all African countries. “I think Nigerians are going to find out that it’s just very easy to use it. They are used to the way this instant value transaction works, instant movement of value from all of their experience with crypto assets but now we’ve taken that same technology, not with some dubious asset we are not sure of the value. So, I think the uptake will be very fast,” he added. He emphasised that while it’s

not a replacement for banks and fintechs, the next 10 years would hold plenty chances to innovate, saying that the plan to adapt it to non-smart phones will boost the number of people using it. The PwC official said from the projection , in the next five to 10 years, more than $29 billion could be realised as addition to Nigeria’s GDP, stressing that he disagreed with groups that think it will add no value to the nation’s economy. “In terms of an estimate of the impact on the economy, that’s not our number. I’m not sure where the president got that number of $29 billion over 10 years if I heard him correctly. But we are doing our own calculation at PwC, I hope when we’re finished you can invite us back,

but I don’t make projections about the future. “But on this issue of the total economic impact on the country, when you take the impact of being able to transfer value at low cost of transactions, transfer at no cost, the ability of people to do things without having to worry about any change (balance) , the ability to transfer money to Nigerians as part of social programmes, the impact on diaspora remittances, my guess I’ll say is that when PwC Nigeria comes out with an estimate, it’ll be bigger than what the presidency says. “I think the five to 10 year impact will be considerably more than what the president says, but you know we’ll come back when we’ve done our proper calculations,” he said.

WITH CAPACITY TO BOOST DEPOSITS ENHANCED, ZENITH LEADS BANKING SECTOR WITH 69.9% LIQUIDITY RATIO to its nature of businesses and people that are doing business with the bank. The bank focused more on corporate than individual lending. It is expected for bigger banks to have a very strong liquidity ratio.” On its part, Guaranty Trust

Holdings Company Plc (GTCO) reported liquidity ratio closed H1 2021 at 44.71 per cent from 38.9 per cent. The bank explained that: “Despite the pressure from COVID-19 pandemic and regulatory debits,

the Group maintained average liquidity ratio of 40.71 per cent.” Further checks revealed that Access Bank reported a liquidity ratio of 50.7 per cent in H1 2021 from 46 per cent in full year ended December 31, 2020 as United Bank

for Africa (UBA) recorded 58.3 per cent liquidity ratio in H1 2021 from 44 per cent recorded in 2020. The apex bank had assured that deposit money banks in the country have remained stable, robust and resilient despite the disruptions by

Covid-19 pandemic. It had said it would continue to continuously monitor the bank to detect early vulnerabilities to ensure pre-emptive action as well as apply some regulatory measures for the growth of the sector.

T H I S D AY ˾ WEDNESDAY, OCTOBER 27, 2021

BUSINESSWORLD

ECONOMY

eNaira: Watershed in Payment, Economic Landscape James Emejo writes that the launch of the eNaira marks a watershed in the country’s quest to becoming Africa’s powerhouse in financial payment system and has the potential to catapult its growth prospects as well as provide succour to deposit bank customers who have endured relentless service debits in their accounts

t’s here at last - The much-anticipated Central Bank Digital Currency (CBDC), also known as eNaira was launched on Monday by President Muhammadu Buhari, who proudly stated that Nigeria had “become the first country in Africa, and one of the first in the world to introduce a digital currency to her citizens.” The president quickly pointed out that the use of physical cash in conducting business and making payments had been on the decline in recent times, strengthened by the onset of the COVID-19 pandemic and the resurgence of a new digital economy. As a result, Buhari further observed that businesses, households, and other economic agents had sought for new means of making payments in the new circumstances. Specifically, he said the absence of a swift and effective solution to these requirements, as well as fears that central banks’ actions sometimes lead to hyperinflation, further created the space for nongovernment entities to establish new forms of private currencies that seemed to have gained popularity and acceptance across the world, including here in Nigeria.

OVERWHELMING INTEREST

The president’s observations on the appetite of Nigerians for innovation in the payment platform were corroborated by the Governor of the Central Bank of Nigeria (CBN) who pointed out that since the eNaira platform went live, there had been overwhelming interest and encouraging response from Nigerians and other parties 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 onboarded while120 merchants have successfully registered on the eNaira platform. At a period when majority of bank customers are daily complaining of excessive bank charges on their savings accounts, the eNaira could offer them an escape route to move their physical cash to digital currency form in order to escape further onslaught from banks. Nevertheless, Emefiele, at the launch said with the 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. Following the completion of the preliminary work, he said, the researchers and experts at the CBN were able to clearly 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 our fast growing payments platforms. He said CBN decided to implement its own CBDC

and to name the digital currency, the eNaira and believes the innovation would make a significant positive difference to Nigeria and Nigerians. Specifically, Emefiele said the eNaira would support a resilient payment system ecosystem, encouraging rapid financial inclusion, reducing 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, reducing the cost of financial transactions, and improve the efficiency of payments.

EQUIVALENCE TO PHYSICAL CASH

He said, “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 1 naira to 1 eNaira.” Emefiele said in a bid to further de-risk the process, the CBN had given careful consideration to the entire payments and financial architecture and has designed the eNaira to complement and strengthen these ecosystems adding that the bank had also implemented secure safeguards and policies to maintain the integrity of the financial system. Also, in order to stem abuse of the digital currency, 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. Emefiele 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 said the country had made history with the eNaira launch, pointing out that this would be the first in Africa and one of the earliest around the world.

SAFETY GUARANTEED

Even while some Nigerians had expressed concerns over the safety of the eNaira especially given the fragility of the global cybersecurity space, the apex bank had further assured Nigerians on the safety and reliability of the digital money adding that adequate safeguards had been installed to forestall security breaches. He told THISDAY, “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. Emefiele said, “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.

“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 the eNaira as an extension of payment system in Nigeria and which would enhance payments outside the country. He said the innovation would also boost commerce beyond the shores of 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 and that for me is one area that I am looking forward to how this would help our country.” This is particularly important as the country prepares to open its borders to other African countries for trade under the African Continental Free Trade Area Agreement (AfCFTA) where currency convertibility remains crucial. Analysts have however commended the CBN initiative, describing it as a turning point in the country’s payment landscape Managing Director/Chief Executive, Dignity Finance and Investment Limited, Dr. Chijioke Ekechukwu, described the eNaira as revolutionary. According to him, “What CBN has done is to position the country to be part of the global digital fintech revolution. This will enhance seamless person-to-person financial transactions and person to company transactions. “The distortions encountered in international payments currently are reduced or eliminated using the eNaira. It also reduces pressure on paper currency and associated costs of managing cash.” Ekechukwu however said the CBN should ensure that it encrypt and tighten security perspectives therefrom, to forestall hacking and fraudulent transactions. Also in separate interview with THISDAY, Managing Director/Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade, observed that the launch of eNaira would broaden the payment system in the country and enhance regional trade between African countries and Nigeria. He said, “It would have a positive impact on the economy because it will deepen settlement systems and increase economic activities in the country.” However, he noted, “The major concern about the eNaira launch will be integration into the existing payment system and how banks will assist in facilitating its usage giving constraints always experienced with network in the banking system. “The other major concern will be the attendant

security in place to guide against any breach of the network. “I strongly recommend that the CBN aggressively markets the benefit of the eNaira to Nigerians and investors alike and also work out a strong synergy with the banks to ensure its smooth running and success to deliver on it expected impact.”

IMPLEMENTATION

On his part, Managing Director/Chief Executive, Credent Investment Managers Limited, Mr. Ibrahim Shelleng, said though a positive development for the country, implementation will be key determinant of success. He said, “I think its a positive move although its implementation will determine its success. Some of the key highlights are easier cross border payments, diaspora remittances etc. “It may also boost financial inclusion given that bank accounts are not needed to have the digital currency. This will also augur well for intervention funding by government.” Shelleng, however, said there must be some level of caution especially when it comes to the digital security aspects this may provide an opportunity for unscrupulous elements to take advantage of those less digitally savvy. He said, “I do see its advantages in terms of public finance. The underlying block chain technology makes transactions safer and easier to trace.” In his intervention however, Chairman, Chartered Institute of Bankers of Nigeria (CIBN), Abuja Branch, Prof. Uche Uwaleke, said there are several reasons why eNaira would be beneficial to Nigeria, adding that this explained why the CBN is pushing for its launch relatively early. He said, “In the first instance, the whole idea of Project Giant would appear to be the creation a digital currency ecosystem to support digital payments which enhances the safety and efficiency of both wholesale and retail payment systems in the domestic economy. “By so doing, it increases the avenues for bringing unbanked people into the financial system and enhances the informal sector’s access to a wide array of financial services.” Uwaleke also pointed out that eNaira could lower the cost of issuing naira notes, as well as the cost of destroying unfit ones stressing that the potential programmability and traceability of eNaira would enhance banking supervision as well as provide a new instrument to better control the money supply and enhance prudential regulation. He said, “These two features of eNaira could help combat money laundering and illicit financial flows. Also, transfer payments such as the monetary palliatives provided by governments to ease the negative impact of the COVID-19 pandemic would be made faster and easier as eNaira allows for direct deposits into e-wallets. “Furthermore, it goes without saying that if successfully deployed, the eNaira could lower the hurdles in cross border transactions as well as facilitate remittances against the backdrop of the commencement of the African Continental Free Trade Area.”

WEDNESDAY OCTOBER 27, 2021 • T H I S D AY

WEDNESDAY, OCTOBER 27, 2021 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Apata: Coca-Cola Hellenic Will Invest More to Boost Operation in Nigeria In this interview, Board Chairman, Nigerian Bottling Company (NBC) Limited, Amb. Segun Apata, speaks on the company’s activity in Nigeria in 70 years, the $1.7 billion investment in Nigeria in 10 years by its Parent Company, Coca-Cola Hellenic and other topical issues. Excerpts: Let’s begin by understanding your journey to the Nigerian Bottling Company (NBC) Limited, after so many years in the public service, could you brieﬂy talk through your switch to the private sector? e must view Nigeria from two operating sides - the private and public sectors - which must work together for the prosperity of the country, just like the Coca-Cola System in Nigeria comprising of Nigerian Bottling Company Ltd and Coca-Cola Nigeria Ltd are working together seamlessly. I joined the Nigerian Foreign Service as the first set of the second decade of Nigeria’s independence, and the first set after the Nigerian Civil War. It was an opportunity to interact and interface with actors both in the private and public sectors within and outside the country. Incidentally, my first assignment abroad was in Dublin, Ireland where the Charge d’Affaires assigned me the responsibility of fostering economic relations between Ireland and Nigeria. One of the highlights of my tour of duty in Dublin was the visit of a Nigerian Economic and Trade Delegation led by the then Chairman of the Nigerian Chamber of Commerce and Industry, the late Chief Henry Fajemirokun. A number of investment deals and joint ventures were struck during the visit. The goodwill and high regard the Irish had for Nigeria was manifested in the high-level reception accorded the delegation by both Irish Governmental leaders and the top leaders of the Irish private sector. The visit was essentially the beginning of rapport between the leadership of Irish Confederation of Industries and the Nigerian business Community. I hope the foundation laid has been sustained over time. On leaving the Nigerian Foreign Service, I was invited to join the Board of Nigerian Bottling Company (NBC) Ltd. I saw it as opportunity of continuing the journey of attracting foreign investment into the country. And Coca-Cola as perhaps the most recognised Brand in the world provides one the platform to interface with existing, current and potential investors. Did I hesitate when invited? Oh no. Who wouldn’t want to be part of the most famous brands in the world? I hope you remember that Coca-Cola is it.

Management and staff of the Company and indeed to all our Distributors and outlets. Credit must equally go to the Board and Operating Committee of our Parent Company – Coca-Cola Hellenic with its Head office in Zug, Switzerland – they have and continue to show robust interest and understanding for the business in Nigeria. It is important to mention that the origin of Coca-Cola Hellenic is Nigeria. It is from this country that the Leventis Family expanded the business to 27 other countries (and 28 with Egypt) including Greece, Ireland, Cyprus, Russia, Italy and Ukraine etc. Again, we are very proud that our plant in Ikeja is the largest Coca-Cola plant in Africa. And we are not done yet. Further expansion is on the horizon. Don’t be surprised that in a few years, other Plants in the country may surpass Ikeja as we are currently executing expansion in a number of plants across the country.

As an ambassador, which other foreign missions did you serve? I didn’t start out my career as an ambassador. I had to climb the ladder, just like it obtains in the corporate world. As I already mentioned, the starting point in terms of foreign assignment was Dublin, Ireland and the last assignment was as one of the Representatives of Nigeria to the United Nations in New York. In between, I served in a couple of countries including Greece and was privileged to serve as Nigeria’s Ambassador to Zaire under President Mobutu. I must acknowledge that the Nigerian Foreign Service at my time had the largest pool of talents in the Nigerian Public Service; and I was extremely fortunate to work and interact with many of them including some of the Twelve Apostles – the pioneer of the Nigerian Foreign Service. How do you feel being a part of a global brand, which with its 70 years of existence in Nigeria has built a culture of excellence? We are lucky as a company to have travelled this journey of 70 years. Perhaps, we should cast our minds back and ask - how many companies, whether family founded companies or multinationals, which operated in pre-independence Nigeria are still in existence till today? We are one of the very few that have survived different phases of Nigeria’s political and economic history. The credit goes to our founder - A.G Leventis and the Leventis Family who have consistently and unflinchingly remained committed to the country. The journey which AG Leventis began

Apata

in 1951 as the Coca-Cola bottler for Nigeria with its first manufacturing plant in the basement of Mainland Hotel Ebute Meta is what we are celebrating this year. In 70 years, we have expanded the business in all facets – the product range, as well as, all packaging types. Currently, we are the only manufacturer with hot-fill line in the country. What is most impressive is the US$ 1.7 billion investment that our Parent Company, Coca-Cola Hellenic poured into the country in last ten years (2011-2021.) Before the investment, that is in 2010, we produced about 180-million-unit cases; and nine years later, with the investment, we closed out 2020 with over 300-million-unit cases. We will surely celebrate our 70th anniversary with an impressive close out in December 2021. The story is even more impressive than that – we have moved away from one line and two lines plants to huge plants in different parts of the country. The Minister of the Federal Capital Territory has just commissioned the 5th line in our Abuja Plant, which incidentally is both fastest line and the line with biggest capacity in the plant. It produces 42 thousand bottles per hour. The same achievement has been recorded in Benin, Port Harcourt, Kano, Owerri and Asejire. We are expanding our Maiduguri Plant, which we have never closed down in spite of the challenges in that part of the country. We celebrate the fact that Our Ikeja Plant is largest Coca-Cola Plant in Africa. We will continue to invest in the country in the coming years. I like to emphasize that the investment is not just on machinery and processes but our

people – the core of our business. Yes, it is not easy doing business in Nigeria. It is a very tough and challenging environment. Ye, we remain standing despite the turbulence in our macro-economic environment. Our Leventis pedigree has a lot to do with our resilience. Of course, government policies impact businesses, and the macro-economic environment can be very tough sometimes – whether in fiscal policies or monetary policies. But here we are - patient and always engaging - because NBC and the Leventis Family are committed to the country. NBC is for ever appreciative of the Leventis Family. Without the Family, the investments that I spoke of would have migrated elsewhere. It is important to point out that NBC is just one of the 28 countries in which our Parent Company, Coca-Cola Hellenic is doing business. All the 28 countries are always competing for investment. Besides, funds could be utilized by our Parent Company to acquire other businesses or territories within the Coca-Cola System. Interestingly, Coca-Cola Hellenic has just acquired the Coca-Cola Bottling business in Egypt. With acquisition, Egypt joins Nigeria as the second African country within the Coca-Cola Hellenic Group. When you came on board, one of the targets before you was to make NBC the foremost bottler in Africa. Looking back now, how far have you gone with that agenda? The transformation of the NBC in the last ten years has been phenomenal. The credit goes to the Board of Directors, the

When you talked about the expansion of your production lines, that is a reﬂection of your investment in Nigeria. NBC has invested heavily in Nigeria for the past 70 years; let’s look at the past 10 to 20 years, can you talk us through your investments and the impact over these years? As I mentioned previously, we are fortunate that our Parent Company, Coca-Cola Hellenic Bottling Company and the Leventis Family are committed to Nigeria. We are equally fortunate that the only African on the Board of our Parent Company is a Nigerian - Mrs Sola David-Borha. The icing on the cake for us in NBC is that a member of our Board in Nigeria also serves on the Board of our Parent Company. I am referring to Mr A.I Leventis. His dual role on both Boards provides a veritable platform for the Board and the Executive Leadership of our Parent Company to have clear understanding of the business in Nigeria. We are appreciative of his special interest in the country. I have already averred to the 1.7 billion United States dollars since I joined the Board, as well as our commitment to expand our production across the country - all range of products – water, carbonated drinks, juices etc, in the coming years. With logistics being very tough in Nigeria, we plan to increase the production capacity of our plants in Port Harcourt, Benin, Owerri, Kano, Abuja, Asejire; and over time match Ikeja. As I already mentioned, Maiduguri is special. The expansion of Maiduguri commenced three years ago, and we are poised to accelerate it. We are the only manufacturer in Maiduguri which has never closed its operations. Doesn’t NBC honestly deserve special recognition and indeed special award by both the Federal Government and Borno State Government? We are pleased to hear about your investment plans in Nigeria, both in logistics and expansion of your manufacturing. Now, The Coca-Cola System expanded by buying into Chi Limited (i.e., Chivita). And I know that since you said your manufacturing plant produces the range of products, Coca-Cola has more brands globally which it intends to bring into Nigeria to commence production here. So, when you invested into Chivita, what was the intention, and what is the impact now? A clarification is necessary here. It is not NBC that invested in Chivita. It is The Coca-Cola Company. Further clarification may be helpful. The Coca-Cola System is like a coin with two sides. Coca-Cola Nigeria Ltd is the company that acquired Chivita and it is directly operating Chivita. As a System, both NBC and Chivita continue to refresh Nigeria with its products – Coca-Cola, Five Alive, Sprite, Fanta, all range of Schweppes products including the newly introduced Zobo and Ginger – the essence is to give all our consumers choices. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY, OCTOBER 27, 2021

BUSINESSWORLD

INSURANCE

Redeﬁning Future of Life Insurance With the advent of e-payment systems in the country, the attitude of Nigerians towards savings became even poorer, leaving those still keen on savings with the option of life insurance policy as means of compulsory savings. Ebere Nwoji, in this report, highlights developments capable of diminishing this growing interest

nsurance experts have often made the case that life insurance holds the future of insurance sector growth in Nigeria due to the fact that it is a line of business that affects everyone. They further argued that as modern life insurance products are investment-related, the life insurance business line currently stands as the best avenue to compulsory savings for many Nigerians in the face of dwindling savings attitude of many people, which itself was the fallout of the advent of internet and mobile banking and a host of other e-payment systems. In their view, despite its all-important nature, not many Nigerians have life insurance policies. Not even the group life insurance, which aside its compulsory nature as stipulated by the Pension Reform Act 2004 amended in 2014, offers different work groups the opportunity of securing their own group life or group accident insurance policy for their members. From findings, it has been discovered that initially, one of the factors that scare members of the insuring public away from purchasing life policies is the fact that most of the policies mature at death, as such after spending their hard earned money to pay the premium for several years, the insured hardly benefits anything while alive rather all efforts are geared towards making provision for his dependents to benefit and keep life going after his death. With this in mind, many people shun patronage of life insurance policies. Indeed, many see putting in place life insurance arrangement as signing their death warrants, and as such give it the last consideration in their list of preferences. Against this backdrop, in recent times, modern insurers have determined to redefine the face of life insurance policies to push to the market policies that give benefits to the insured at his life time as well as policies that are interest related to inspire people willing to save to patronise such policies. Indeed, they have gone into earnest search for life products that will give the insured the opportunity of benefiting from the policy while still alive and even prevent him from dying from possible as well as policies that will improve on their financial well being especially at hard economic times. Custodian LIfe Insurance Limited, was one of such firms as it came up with one of such much desired life policies that offers the insured the opportunity of benefiting from the policy while still alive. The company, launched a product that will enable the insured conveniently seek for adequate medical treatment at home or abroad without turning himself and his household into public beggars in order to get funds for medical treatment. The company, tagged the product “Custodian Critical illness insurance policy (CCIP) The policy, which is the first of its kind in Nigeria, is for those suffering from critical and terminal illnesses such as stroke, cancer, heart attack and renal failures. The company, which described the product as a standalone policy of its kind in Nigeria said launching the product was informed by the present economic, health difficulties in Nigeria to assist millions of Nigerians who were victims of the above illnesses address their health challenges. Currently, the trend in Nigeria is to see people affected by these terminal sicknesses write to philanthropists, governments at all levels, civil society and humanitarian organisations through agents or non-governmental organisations for financial assistance to seek for medical attention outside Nigeria. The amount often sought for by these unfortunate victims ranges from N10 million to N20million

but sad enough, many of them give up the ghost before the money was made available by the donors. A case in point was an Abuja-based veteran journalist and a staff of the defunct Financial Standard Newspaper, Mr. Benbright Mkpume, who was down with renal failure and begged for financial assistance from Nigerians to raise N20 million to enable him undergo kidney transplanting .

The unfortunate journalist begged for the said amount for two years but was unable to realise even half of the money before his eventual death. There was also the case of the veteran comic-actor Moses Olaiya, better known as Baba Sala, who reportedly suffered a stroke and has sought help from Nigerians. Media reports said that the octogenarian personally

made the appeal at a briefing on his biography entitled ‘The Triumph of Destiny’. He was quoted to have said: “I need help. Nigerians should help me. I am not dead yet, they should not let me die suffering.” The comedian was reportedly looking frail and required human support to walk. Dele Adejumo, his son, was quoted as saying: “He has investments but they have all been wrecked by mismanagement. He also had a three-storey building in Mushin, Lagos, which he had to sell to offset debt incurred when his work, Orun Mooru, was pirated. “We still have some of his recorded works not in public yet but machines that will be used to transform them to an acceptable format are not easily available. We do not have the kind of money they are charging us”, said his son. Another veteran actor, Sadiq Daba, was said to have been ill and he had lamented that it was very expensive Continued on page 32

BUSINESSWORLD

WEDNESDAY, OCTOBER 27, 2021 ˾ T H I S D AY

INSURANCE

REDEFINING FUTURE OF LIFE INSURANCE to pay for his treatment. Similarly, a number of Nollywood actors, journalists and other public figures had fallen victims of this ugly situation, some got instant help and are alive today while others could not and as such died just like that. But often, insurance managers have said that such people need not beg to obtain medical treatment at home or abroad if they could put in place adequate insurance arrangement for the unknown and unforeseen. Many Nigerians, often due to religious belief and culture wish away such sicknesses but this has not stopped them from affecting those they want to affect. Custodian life insurance, in developing the critical illness insurance policy said “We are well aware of the current economic, health difficulties in our country today for us at custodian insurance, tough times are for us to get tougher and not use the current climate as a negative block but rather an energising spring-board for new ideas. It is on the back of this that we have launched the critical illness insurance cover which we are confident will assist millions of Nigerians to address their health challenges, “said Larry Ademeso, Managing Director Custodian Life Insurance. According to him, unlike the group life insurance policy which benefits are paid to dependents of the policy holder at his death, in the case of the critical illness insurance cover, the policy holder is six times more likely to claim under his critical illness cover than under the group life cover. “Employers in Nigeria today are required by law to provide group life insurance cover for their employees, that is as far as the story goes , benefits will be paid to your beneficiaries when you would have passed away so what happens if you do not die but become incapacitated by some of the debilitating illnesses ravaging the populace this is why we developed the critical illness cover to meet the yearnings of Nigerians”. According to the Custodian Life insurance boss, the custodian Critical illness cover, offers the policy holder added protection and confidence boost to go about his daily activities without fear of possible financial backslash associated with treating a critical illness. He quoted the World Health Organisation as saying that Nigeria has the highest cancer rate in Africa while there is increasing precedence of stroke just as about 10 percent of adult Nigerian population is liable to have heart attack. Similarly, Anchor Insurance Company Limited recently launched its innovative and unique life insurance product tagged Anchor Loss of Employment Insurance scheme, popularly refers to as AnchorLoEIS.

The Chairman, Board of Directors, Anchor Insurance Company Limited, Dr. Elijah Akpan, at the event in Lagos which attracted captain of industries, Bank Chiefs, co-operative unions, insurance practitioners, insurance brokers, employers of labour, employees and the insuring public, revealed that in launching the product, the company targeted at addressing a real kitchen table issue for families all across Nigeria. “We have an opportunity and a responsibility to innovate and create an insurance scheme to protect employees’ employment income and in doing so to provide a measure of financial stability to millions of Nigerians who may be laid off in the most difficult economic time. “We have the opportunity and the responsibility as an organisation to provide peace of mind to families who may be left in the ditch without a job and nowhere else to turn to,” he stated. Also Wapic Insurance Plc, now Coronation Insurance plc, had championed the course of encouraging Nigerians to cultivate good savings culture with its array of SMART Products targeted at not only giving competitive interest rate to consumers but also offering free life insurance cover to savers. The management of the company, explaining how savings through the company’s various smart products work stated: “So here’s how it works; you want to save towards a short term goal, you choose the plan that works for you depending on your need. An account is then created for you and you save monthly. Now for the period of your plan you have life insurance cover!” Other life insurance firms have developed series of investment related products that matures at the life time of the policy buyers and agents of various insurance firms marketing these products testify of increasing rate of buyers of these products proving that the future of insurance business is in life. But the agents lamented that poor attitude of some insurers toward settling claims from these life policies leaves much to be desired creating fears of possible dwindling of this rising interest in life insurance business. One of the agents working with a mega insurance firm in Lagos said she was personally disappointed at the behaviours of management of insurance firms towards claims from policies they sold to the public. According to the agent, she prevailed on a cousin of hers to patronised her company by buying an investment related policy from the company through her. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

WEDNESDAY OCTOBER 27, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY OCTOBER 27, 2021

EDUCATION Bogoro: TETFund Is Pumping More Money into Research In this interview with Stanley Nkwazema, the Executive Secretary of the Tertiary Education Trust Fund, Prof. Suleiman Bogoro regretted the inadequate research funding in Nigerian universities. He talked about the annual N7.5 billion research grants and other issues. Excerpts:

2019 we started with N5 billion, higher than all the eight years since the fund was started put together. Last year, we raised it to N7.5 billion, all at my discretion. This year, it is N8.5 billion. I actually wanted N10 billion, but the board chairman joked that if we leave the executive secretary, he will carry all the money for research because we politicians also want to see buildings. He, however, said that if they stop me, I will resign because I have not met the purpose I set for myself.

hy were you sacked a few months after assuming ofﬁce and brought back later? My first tenure of five years by law was aborted by my disengagement after just one year and 10 months, along with many others on the basis of frivolous allegations. At some point in time, the allegations and petitions against me were coming from virtually everywhere. Some of the times when I read some of the allegations, I knew some people just fabricated it just to see me out. It was bad an allegation that the then-Senate president asked the committee on education led by Senator Binta Marsi Garba of Adamawa State to investigate and report back to the whole house. Firstly, the allegation was that as the executive secretary, I diverted N200 billion. They added that I used the money to finance the ruling party at that time which was PDP. I knew instantly that there was never a N200 billion missing in TETFund records. What I knew, however, was that there was N279.3 billion diverted, on the instruction of then-President Goodluck Ebele Jonathan, to the Minister of Finance, then Prof. Ngozi Okonjo-Iweala to fund the ASUU negotiations and agreement. Was there a virement for such money? Today, as I speak, there have been similar instructions of such money belonging to TETFund even by this government. I can confirm it. I have the records. It happens once in a while. The beauty of the entire thing is that the day I appeared before the senate committee, I told them, first and foremost, there was never N200 billion missing. Incidentally, most of the money was diverted between 2013 to pay the ASUU agreement mainly. They also used part of it to give PTDF to pay the scholarship fees for some students under the scheme and another agency. At that time, I said I was not the executive secretary of TETFund, yet I was accused of diverting the money to give PDP for funding the elections. But then the election was in 2015 while the money was used in 2013. Ordinarily, you should know that the money couldn’t have been directed to the election. They just wanted to paint me negative. They felt that a new government had come and if you want to finish the man, just link him with the allegation. I am saying this because it could be any of you accused wrongly for what you did not do in the near future. The day I appeared before the Senate committee, as is the rule of formal protocol, I responded in writing, but when I appeared before the committee on tertiary institutions led by Senator Binta Marsi Garba, they had gone through all the documents, they asked the media to leave and decided to go into closed hearing with me so they could invite them back at the end of the engagement. This was because they were ashamed seeing me stand before them because I had destroyed all their arguments when I responded in writing with attachments and evidence. When the Accountant General of the Federation came in, he told the members of the red chambers that all the documents I provided were correct while confirming that the money was diverted by the then president, instructing the minister of finance to comply. He disclosed to them that TETFund did not know because they were not informed about the money from the government treasury to settle ASUU. Unfortunately, it was while the investigation was ongoing that I was sacked because I knew that some people had vowed that they would remove me. It was somebody that wanted me to drop a bag of money in his house every week. I am sorry to say this, but I wouldn’t oblige him. Interestingly, exactly six months after I was sacked, they turned in their report exonerating me. I have the report for my children. Luckily enough, each of the members of the senate spoke and not only exonerated me

Prof. Bogoro but also apologised because they went through the records and found out that I did not steal any money. Where’s TETFund at the moment? I met a TETFund that emerged from Education Trust Fund (ETF) and, a few days ago, gave credit to my predecessor, especially the transformation from ETF to TETFund. The education tax fund became TETFund in 2011 because we insisted because that was the original idea. The funds were applied to every sector of education- nursing schools, colleges of agriculture. Even the Nigerian Law Schools were benefiting from the ETF. We disagreed and got it corrected. In 1999 when President Olusegun Obasanjo put up the board of trustees under Eniola Olakunrin, unbelievably, you could now see the physical presence of the ETF. From 2011, we now insisted in ASUU that the fund should be applied in only public tertiary institutions which the monotechnics were benefitting, which was not right. In the law of TETFund, as amended, we made sure it was only the universities, polytechnics and colleges of education, federal or state. The effect of TETFund intervention became more manifest from 2011. With the emergence of TETFund, we now introduced academic staff training, though it was introduced in 2008. With TETFund taking over from the ETF, we focused more on the tertiary sub-sector, and there was more focus on physical infrastructure. Academic staff training and development became a priority because only 40 per cent of university lecturers had a PhD. By 2015, the percentage moved to 60 per cent. I can tell you, as it is now, most of our universities, particularly the first-generation universities, are getting close to between 85 and 90 per cent PhD holders. The second- and third-generation (universities) have in the region of 70 - 90 per cent. We are hoping that very soon, you cannot be a lecturer without a PhD.

We know that new universities have been emerging, and we are struggling to cope. When I came, however, I realised that too much emphasis had been placed on physical infrastructure. Yes, we needed classrooms and offices, and before TETFund came into being in 2011, there were no professorial offices. If you went to the universities, in fact, a professor’s office was similar to that of a messenger in any ministry, federal or state. Without exaggeration, it was as bad as that. It is TETFund that started what we now have decent and befitting professorial offices, and we prescribed and insisted on the must-haves in those offices. Today, virtually all public universities in Nigeria have professorial offices. What are your thoughts on Nigerian universities’ rankings? I will link that to infrastructural decay. The first question President Muhammadu Buhari asked in 2015 was why are Nigerian universities poorly ranked? When I came, I discovered that there was too much emphasis on physical infrastructure. It may also interest you to know that there are two categories for research grants - Institution Based Research (IBR) with a ceiling of N2 million, then the National Research Fund, which is centrally controlled at TETFund. The IBR is given to institutions to manage largely for basic research. For applied research which we call problem-solving research, it has to be larger, which is N50 million. The problem, however, is that for eight years, from 2011 to 2019, only N4 billion was committed for research grant(s) of all Nigerian universities. I did not want that any longer. We had more money to build classrooms, lecture theatres, iconic senate buildings as if we were competing with the ministries with elegant buildings. What about the content? I changed all that as I said we should not be working on seed money research grants to annual research grants, a case I presented to the board of trustees, and they approved. In

The knowledge economy in the 21st century is driven by research, and where there is no research, there cannot be value addition

Are you satisﬁed with the impact of the interventions? As I speak, the NRF, we are concluding on software to measure the impact of all NRF from when it started. We are now evaluating and will soon publish it. That of the IBR, at the institutional level, we will also proceed and see how we make it available to Nigerians. It may also interest you to know that it is my idea that we should harvest all postgraduate thesis and PhD in all our universities in Nigeria and dematerialise them, which simply means electronic copies or versions, and we have an inventory. We are handling only PG programmes for now but will come down to bachelor’s degrees. In the next 12 months, we should conclude on that project. People are asking questions simply because they are not informed about the technology. We are putting more money into research. As a researcher, if you are hard-working, you will never be poor. If you have watched me, I have always talked about problem-solving research. For too long, the academia, our universities, remember that the universities are traditionally and historically the leaders in research. That cannot change, and it has remained so. For industries, if you see the Research and Development Funding Committee the Minister of Education inaugurated September 24, 2020, we deliberately constituted 154 members made up of Nigerians in Nigeria and the diaspora. Some of the best researchers and academia, many from the industries, institutes and relevant centres of excellence of Nigeria, are there. We involve the DG of NASENI, NOTAP Automotive Council, DICON in the military, and others. I made a case to the board of trustees to create a department for R&D for artificial intelligence. How has TETFund been assisting institutions in solving the COVID-19 pandemic? Today, I brought a team and released N1.25 billion. Let me tell you the first cluster that is being led by National Veterinary Research Institute (NVRI) on vaccine production, with bias on veterinary vaccine against viral diseases as it were. The other one is improving the drug and vaccine production infrastructure in NVRI, Vom. The first partner working with them is NIMAR in Yaba, Lagos. Again, the DG for the National Research Institute for Chemical Technology, they were carefully brought for the cluster in veterinary. The other one is the National Institute for Pharmaceutical Research on drug development, the Defence Industries research and dairy research and development. Prof. Lawal Bilbis of the University of Sokoto said we should give them 18 months “we are going for candidate vaccine against COVID. Chemists in this country respect him. We work together in the TETFund journals sub-committee. These are the brilliant guys we have brought together. Redeemers University has gone far also on DNA sequencing, which is a component leading for the characterisation of vaccine production. I can tell you that our universities have had capacities. The major problem is that they did not have the money for the research and proper investigations. Honestly, what I don’t like is for somebody to imagine that Nigeria can’t produce vaccines. We have been producing vaccines. The truth is that we are not funding it. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY OCTOBER 27, 2021

EDUCATION

Provost Commends FG on Six Nigerian Universities Become Centres Incentives for Colleges of of Excellence in Procurement Education Students Kuni Tyessi ÓØ ÌßÔË

Funmi Ogundare

Provost, Federal College of Education (Technical), Akoka, Dr. Ademola Azeez, has commended the federal government for its initiative to ensure that students of colleges of education receive N50,000, every semester to encourage more Nigerians to take up careers in teaching. The Minister of Education, Adamu Adamu had disclosed this during the commemoration of the 2021 annual World Teacher’s Day, as part of efforts to reposition the sector. Speaking at the 2020/2021 Distance Learning Programme (DLP) matriculation ceremony of the college, held recently in Lagos, he stated, “For instance, in Finland and China, teachers are at par with medical doctors because they are able to attract the best to the profession. The move will improve enrollment and ensure that more people go into the teaching profession. “If you go to private universities, they still rely sometimes on public universities for lecturers. So, incentives like that can attract the best brain to teacher education.” The provost, who emphasised the poor enrollment figures into some programmes in the college, attributed it to the low level of awareness among students and parents, adding that the college will try and boost its publicity so that parents will know the importance of Technical and Vocational Education. Azeez added, “There is no country where everybody is

a university graduate. NCE is not a terminal programme. The curriculum was designed for NCE graduates to teach at the basic education level. For those who want to be fully groomed in the pedagogy, by coming for NCE programme, they will have an advantage over those who went to study education without NCE and by the time they finish their programme, some of them who want to further their education look more matured than those who came in through UTME.” He appealed to the matriculating students to be well behaved and take their academics seriously. Azeez also appealed to them to reciprocate the good gesture of the college by working diligently in order to contribute their quota to the development of Nigeria. “As students, you are expected to exhibit discipline, loyalty and honest character at all times during your stay in the college. Energy wasted in pursuit of unlawful gains or destructive union activities is tantamount to misplaced priorities and contribute to lowering of standards of education, “ he stressed. In his remarks, the Director of DLP, Mr. Oti Eyetsemitan enjoined the students to set achievable goals, to be focused and avoid procrastination, adding, “be diligent in your studies, don’t be static, as continuous improvement is a criterion that leads you to stardom. Work on your limitations and you will surely excel.”

The federal government is set to implement the Sustainable Procurement, Environmental and Social Standards Enhancement (SPESSE) Project to produce experts in procurement, environmental and social standards in the country. Six federal universities have been selected to host the Sustainable Procurement, Environmental and Social Standards Centres of Excellence (SPESSCEs) for the implementation. They are the Abubakar Tafawa Balewa University (ATBU), Bauchi; Ahmadu Bello University (ABU), Zaria; the Federal University of Agriculture, Makurdi (FUAM); the Federal University of Technology, Owerri (FUTO); University of Benin

(UNIBEN) and University of Lagos (UNILAG). This is the first time this will be happening in higher education in Nigeria, said Dr. Joshua Atah, project coordinator SPESSE Project Implementation Unit at the National Universities Commission (NUC). SPESSE is a multi-sectoral project with support from the World Bank. It will address training, professionalisation and research in procurement, environmental and social standards. It will be implemented by the National Universities Commission (NUC), Bureau of Public Procurement (BPP), Federal Ministry of Finance, Budget and National Planning, Federal Ministry of Environment and Federal Ministry of Women

Affairs and Social Development. Scheduled to be launched by Vice President Yemi Osinbajo, at the NUC, Abuja, on October 28, SPESSE aims to establish strategic partnerships with leading international research funding research performing and international capacity building organisations and top-performing institutions. While addressing a stakeholders’ meeting, recently, Executive Secretary of NUC, Prof. Abubakar Adamu Rasheed, said he was excited at the potential of SPESSE and the possibilities that it offered both the public and private sectors of the Nigerian economy. He stated that the six centres were selected through a very objective, competitive and rigorous selection process, while the project was designed with the

full participation of the private sector, including the Nigerian Economic Summit Group, which represented the Industry in the design of the curricula by NUC. By developing curricula aligned with international standards, setting up the centres of excellence and supplying qualified professionals, SPESSE will improve, significantly, Nigeria’s capacity for procurement, environmental and social standards. Rasheed commended the vice-chancellors of the selected universities for the key roles they played in developing the winning proposals and urged them to continue to support the centres for the benefit of their universities, the Nigerian University System (NUS) and the country in general.

L-R: Seated; Administrative Oﬃcer, Bunmi Adedayo Foundation (BAF), Mr.Olawale Rowland; trainer BAF, Victoria Animashaun; CEO, Impact Base Consulting, Mr.Femi Martins; technical consultant and CEO, Nurture House Consulting, Mrs. Ayopeju Njideaka; Project Manager, Subject Enhancement Programme in Mathematics (SEP-M), Ovigue Akpokdikere; and BAF Grants and Partnership Lead, Mr. John Klutse, with a cross section of project beneﬁciaries at the last training of SEP-M in Lagos...recently ˝

MOUAU VC Decries Low Admission Quota, Denies RISS Marks 25th Anniversary, Honours Staff COVID-19 Outbreak Uchechukwu Nnaike

Emmanuel Ugwu-Nwogo ÓØ ×ßËÒÓË The Vice-chancellor of Michael Okpara University of Agriculture Umudike (MOUAU), Prof Maduebibisi Ofo Iwe, has decried the low number of students offered admission into the institution by the Joint Admissions and Matriculation Board (JAMB), describing it as “grossly inadequate.” He expressed his displeasure over the admission quota in his address at the 28th matriculation ceremony of MOUAU, during which the fresh students were formally received into the institution. According to him, the total admission quota allowed by JAMB for MOUAU this academic session was 5,127, including regular and direct entry candidates. He further stated that in the 2020/2021 academic session, JAMB allocated a 4,522 admission quota for students to pursue different programmes at MOUAU even when the institution can take in more students. “This figure is grossly inadequate when compared with the teeming population of candidates seeking admission into the University,” the VC said. However, he noted that the university had no choice but

to comply with the JAMB allocation given the prevailing circumstances. The MOUAU chief executive charged the new students to strictly abide by the moral code of the institution and uphold its core values that staff and students were required to adopt. He stressed that MOUAU had zero tolerance to cultists, threatening to expel students found to be members of cult groups. “Furthermore, if you were initiated before you arrived here, you have an opportunity to totally renounce cultist and repudiate it,” he added. Meanwhile, the institution debunked social media reports claiming that two students died of COVID-19 infection due to an outbreak. While admitting that two students of the institution died recently, the management clarified that the deaths were “completely unrelated” and had nothing to do with any outbreak of any disease. The clarification was contained in a statement issued by the public relations officer of the University, Adanma Odefa, disclosing a female student died from complications arising from “botched abortion” while a male student died after collapsing on the walkway.

The Redeemer’s International Secondary School (RISS) recently held its 25th founder’s and 24th speech and prize-giving ceremony, rewarding three foundational staff. Prizes were presented to exceptional students in each class, as well as in external examinations. There were also prizes for character and extra-curricular activities; best teaching and non-teaching staff. Speaking at the event, a member of the board, Mrs. Bola Oni, who highlighted the achievements of the school, said it started with 10 teachers and 25 students, now

there are 32 teachers and 190 students, She said the low staff turnover had produced a strong team, able to structure the curriculum to meet international standards while maintaining an unwavering dedication to the school’s vision. “The virtues of teamwork, personal accountability and truthfulness are woven into the fabric of the school curriculum both in and out of the classroom, which helps out students develop strong leadership skills and the ability to hold their own in a changing and increasingly challenging world.” Oni said the school had represented Nigeria twice at

the international junior science Olympiad, international geography championship in Russia; it also got the international school award by the British Council in 2016. She said many school graduates have also been admitted on a full scholarship to Ivy League universities due to the combined efforts of all staff members and stakeholders. The school’s principal, Mrs. Feyisara Osinupebi, one of the long-serving staff, said passion for children, teaching and the school’s vision kept her going. According to her, one of the challenges of working with youths nowadays is the influence of the social media,

so there is need to supervise them to ensure that they only do positive things on the internet and they use it mostly to learn and research. “Also nowadays we have conflicting theories in parenting and sometimes these affect the training of the children. But we need to be firm, have our principles and policies and stand by them so that the teenagers will know that they are accountable for their decisions. In her keynote address, Mrs. Ibukun Awosika, a former chairman of First Bank of Nigeria, urged the students to strive to do all required to excel, saying that integrity and character are necessary for success.

Igbobi College Old Boys’ Association Elects New Council Members The Igbobi College Old Boys’ Association (ICOBA) members have returned Mr. Olumiyiwa Kinoshi as the president to lead the association for another two years during the just concluded 2020 annual general meeting; a hybrid edition held at the Justice Duro Adebiyi Hall at the college in Lagos. The association also unveiled programmes for social good to mark the 90th anniversary of Igbobi College, a leading

legacy college providing a well-balanced and rounded secondary education for boys in an environment conducive for the purpose, coming up in 2022. In his acceptance speech, Kinoshi thanked the association members for the confidence and trust reposed in him while promising to continue all the ongoing projects and bridge the gap between the old and young members.

The newly elected executive council members include the first vice president, Yomi Badejo Okusanya; second assistant secretary-general, Jamiu Babatunde; treasurer, Wasiu Adedayo and Assistant Financial Secretary, Coker Folarin, among others. The chairmen of ICOBA Olatokunbo Ajasin (Ibadan branch), Jonathan RobsonOdugbemi (Abuja), Wale Gbalajobi (North America) and

Deji Okubadejo (Europe) also returned as council members. The ICOBA is run by the National Executive Council which coordinates all the activities of the association. The association maintains and enhances an engaged, vibrant community of alumni worldwide. It helps connect alumni to each other and their class sets through a wealth of community activities and events around the world.

T H I S D AY ˾ WEDNESDAY OCTOBER 27, 2021

EDUCATION

Greensprings School Awards Scholarship to Public School Students Uchechukwu Nnaike

From public primary schools in the Anthony and Lekki areas of Lagos, and probably expected to proceed to nearby public secondary schools, the lives of five children took a pleasant turnaround with the recent award of full scholarship by Greensprings School for their secondary education at the school. The awardees are Afolashade Adebowale from Idi-Odo Primary school, Michael Nwaoha, Adaranijo Primary School; Aliyah Munir, Real Mercy School, Oko-Oba; Deborah Adewale, Community Primary School, Adeba; and Favour Babatunde, Community Primary School, Abijo. They defeated 45 others who were selected from 10 public primary schools

around the schools Lekki and Anthony campuses. Speaking at the award ceremony, the CEO of Greensprings School, Mrs, Lai Koiki, said the scholarship began about 10 years ago but was for sports scholars in partnership with the Lagos government. But for two years, the annual football academy could not hold because of COVID-19. According to Koiki, the scholarship will give underserved children a platform to excel so that they can go back to their communities and make a change. On the selection process, she said the school approached the State Universal Basic Education Board (SUBEB) to reach out to headteachers of five primary schools around Anthony and Awoyaya communities.

Each school brought its best five pupils. After tests and interviews, 12 were selected. The students and their parents expressed gratitude for the scholarships. Sharing their experience at Greensprings School so far, the students who are gradually settling in, said they have made friends and their classmates are nice to them and also lend them laptops to do their assignments. To their delight, Koiki promised to give them laptops as part of their educational materials. In an emotional show of appreciation, a parent of an awardee, Mrs. Elizabeth Adewale, said when her husband told her about the scholarship, she thought it was a dream until she saw the school uniforms and other supplies.

In her remarks, the head of the school, Mrs. Feyisara Ojugo, said at the heart of the school’s activities is service. She said the beneficiaries of the school’s heart of service, will in addition to their academics, learn what it means to think about other people and give back to society. Responding, a director in Co-curricular Department, SUBEB, Mrs. Folashade Abass, who could not conceal her excitement, thanked the school for giving the indigent children a lifetime opportunity. She also applauded the private sector ’s participation in the education of indigent students in the state. She advised the awardees to study hard, as the only way to reciprocate the gesture is by excelling in their academics.

L-R: The CEO, Greensprings School, Mrs. Lai Koiki; Group COO, Palton Morgan Holdings, Mr. Nidal Turjman; and Director, Co-curricular Department, Lagos State Universal Basic Education Board, Mrs. Folashade Abass, with the scholarship awardees

Old Students to Reward Exceptional Teachers Yinka Kolawole in Osogbo

As part of preparation to celebrate the 65th anniversary of Methodist High School Ilesa, the Old Students Association (OSAMETHSI) has announced plans to honour present and former teachers who excellently discharged their duties and encouraged brilliant students. This was disclosed by the President of OSAMETHSI, Dideolu Falobi, while briefing journalists at the school’s multi-purpose hall. Falobi said the 65th anniversary celebration is also to appreciate more than N200 million holistic contributions of

the old students’ association towards the development of the school over the past six years. “The highlights of the celebration will include the commissioning of projects such as the newly completed multi-purpose hall, new volley ball court, the newly refurbished Biology laboratory, the Peter Ojo Astronomy Centre, among others. “We will also celebrate some of our teachers who taught in the school between 1956 and 1990. Old students that passed out of the school between 1961 and 1970 will also be celebrated. Current teachers will be appreciated while brilliant students will

also be encouraged. “On Friday, October 29, 2021, we will hold a quiz competition, A basketball game and friendly football match among other programmed. “On Saturday, October 30, 2021, we will hold the anniversary celebration with the keynote address by our governor, commissioning of projects and celebration of first generation teachers and students. “On October 31, 2021, we will hold a thanksgiving at the Methodist Cathedral, Otapete, Ilesa. Falobi thanked former Governors of the state, Olagunsoye Oyinlola, Rauf Aregbesola and the

incumbent Governor, Gboyega Oyetola for the support received by OSAMETHSI since it started its intervention to the school in 2004. Highlighting successful projects done by OSAMETHSI, he said the old students’ association has successfully constructed new ultra/modern access/ security gate, refurbished 49 classrooms, including re-roofing, replacement of windows, doors, painting, and flooring of classrooms. “Refurbishment of Physics, Chemistry and Biology laboratories” also “Complete upgrade and modernization of home economics building.”

Teacher’s DIARY KEHINDE OMORU

www.kayomoru.com

I DON’T LIKE MY TEACHER!

t is certainly not my duty via this platform to point fingers or critique some teachers, but my advice is that, teachers generally take a very hard look at themselves and make sure that they do not fall into some obvious bad habits. An ever shouting and restless teacher who always harangues his/her class will infect the children with these negative traits. To children, teachers are semi-gods who ought to be obeyed and emulated. Children that are forever shouted at will shout at others to get on daily. They will become aggressive adults. Have you noticed how much harsh words flow freely from our lips these days? It’s appalling. The boss at work, the bus conductor, the market-sellers, stressed up parents, clerks in offices who are forever expecting, traffic wardens, policemen and soldiers at checkpoints, everyone talks harshly. Car engines are shouting, horns are hooting these days too. What with the harsh petrol scarcities coupled with the third or fourth hand spare parts transporters have to work with. When our children are disillusioned, gossip among themselves about teachers behaviour, they display an attitude of dissent, do the bare minimum, do not try to better themselves, when teachers engage themselves in degrading or humiliating students then there is bound to be hatred that would ultimately lead to mental health of the children. This country must change for the better. This change must not only be in terms of a better standard of living for the average Nigerian, but change also in terms of content and manner of our discourse with one another. Our speech should always be seasoned with grace, with good will and with encouragement. I admire and have emulated a good trait in the British - this is politeness. The expressions: yes, please; thank-you, beg your pardon, mind if I, excuse me, and the like are utterances I hear from them daily and I observe too that these are not said to colleagues only but also to the children as the need arises. Fellow teachers, we have these children in our care for at least five hours daily. Let’s drill politeness into them. In our Nigerian cultures, we have the legacy of polite expressions. The Yorubas, for instance, have the word which not only is a plural pronoun referring to more than one person but can be used to address and indeed should be used to address anyone irrespective of age or affluence. All these, I’m afraid, are fast disappearing. Can you beat the rudeness of the primary six child a while ago who dared me to send him to the quiet room in isolation (the naughty corner)? I had told him that he’d have to go into the quiet room if he continued to make distracting and rude noises with the latches of his locker during my lesson. Our headmistress then, I remembered clearly, was stunned but handled the situation like the teacher that she was. Here was a lanky boy, from a rich home, who, from his childhood, displayed disrespect for authority. On the other hand, I was grateful for the incidence because it was yet another opportunity to understand the child better. He was most probably from a home that flowed with milk and honey where nannies, cooks and drivers were plummeted with orders and threats from master and madam or either of the two and where their namby-pamby children must not be disciplined by teacher. The Ancient Truth says “Train your child and he shall give you rest.” Mind you, I do not at all mean to hit with the cane, as they are not animals, but rather I am for discipline which sets out to instruct, teach by words and actions, deprive if that would pass on the lesson to be learnt and reward immediately any good behaviour. While on our part as parents, we should try our best to educate our children to get together with their supposed hated teacher and engage in discussions over the way things are. Apologise for whatever happened, even if they do not feel like the teacher did anything wrong. They should even say things like“I am sorry about such perceived misunderstanding” will go a long way. And he/she will be impressed that you are bold, honest and matured enough to try to resolve such perceived conflict. -Omoru is a freelance writer, education, health and social care advocate

WEDNESDAY OCTOBER 27, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY OCTOBER 27, 2021

CITYSTRINGS

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

Grooming Self-reliant Youths To groom self-reliant youths, Senator Bright Nwanne's Foundation recently empowered over 150 youths of his immediate community and other adjourning communities- all 10 communities in Onicha, Ezinihitte Mbaise Local Government Area of Imo State. Amby Uneze reports that the empowerment was in the area of poultry farming as well as fishery

Beneﬁcaries of Poultry empowerment

hilanthropy is a thing of the mind and for somebody to engage in the art, they must be a lover of humanity and a crime-free society at large. For a man to float a foundation that is not channeled towards political gain, such a person must be one who has the fear of God as well as a lover of humanity. Rightly or wrongly, many people have floated foundations but most times their ulterior motive is to win the soul of the people for political gains. Therefore, for Senator Bright Nwanne, to remain a focused gentleman in the art of giving freely to the people without looking for reward must be an exceptional being. In the first instance, he does some of these philanthropic gestures without blowing his trumpet, but would prefer to remain silent about them. However, due to persuasion by his adherents to highlight one or two of these activities being carried out by his foundation, Senator Bright Nwanne Foundation (SBNF), he obliged to their request. In a low key arrangement, this renowned philanthropist through his foundation recently empowered over 150 youths of his immediate community and other adjourning communities that is, the 10 communities in Onicha, Ezinihitte Mbaise Local Government a6rea of Imo State in various agricultural skills. The empowerment was in the area of poultry farming as well as fishery production. The programme was aimed at creating meaningful jobs as a way of eradicating crimes among the youths in the communities. It was also targeted at reducing other criminal activities in the area as the youths would be fully engaged into meaningful ventures that eventually make them self-reliant. The activities leading to the distribution of the poultry materials kicked off with a weeklong training programme of all the beneficiaries under the watchful eyes of the consultant who engaged them on the rudiments of poultry farming as well as how to grow and sustain profitable small scale businesses. Distributing the items such as poultry drinkers, feeders, five bags of poultry feeds to each person, chicks (50 day old each), drugs, charcoal to heat the birds and take off capital on Tuesday at the ultra modern civic centre also built by the philanthropist, Senator Bright Nwanne told journalists that he was embarking on the project in order to assist the youths of his community and its adjourning communities to engage in meaningful businesses that would eventually remove them from criminal activities and other social vices. According to him, "if we are not careful, we will mismanage our youths. Based on this therefore, I thought of empowering youths in the 10 communities in Onicha Mbaise where I come from, not as a politician because I am not into politics this time around but as a continuation of my sincere contribution to develop my people and the communities.

Siena Buses donated By SBNF He said “I have always been taking the 10 communities in my local government as my primary constituency. That is Onicha Mbaise, even though it is very big, however, during the lockdown, I gave out COVID-19 palliatives to the people there. Among all the things I plan to do and the ones I have done is to train some selected youths on poultry management. I had to get a poultry consultant for one week and now those that participated in the training programme are being given start-up materials such as drinker, feeder, poultry feed and drugs, and chicks, charcoal to heat the birds and the take off capital. “About 150 youths are beneficiaries of the empowerment in the 10 communities. The method of selection was based on the recommendation by the committee we set up which involved the youths of the communities. The committee is made up of credible people and they made sure that the beneficiaries are serious-minded youths who would use the opportunity to build themselves. “To make sure this programme works out well, we got guarantors who would monitor and ensure that the beneficiaries do not divert or sell the equipment and materials given to them. Also the guarantors would give them advice and hold them responsible to be able to make good use of the items entrusted in their care and for their own future benefit. This empowerment is not refundable, it is entirely their own but they should manage it well to make a living. “In addition to the items given out for individual use, I have also procured five Sienna buses for the youths of the communities to manage as well. To this end, a dedicated account will be created for and managed by the youths whereby the monies realised from this venture would be kept in that dedicated account. “It will be a sort of bank for the youths so that those of them that want soft loans to put in their businesses, it would be granted to them because they will pay back the soft loan. Then by the end of the year, the committee incharge of the programme would check up the money realised and subsequently procure more buses to increase the fleet for the programme to be sustained. Senator Nwanne also disclosed another arm of the empowerment which is to empower a different set of youths on fishery production and other skills to be added.

The buses, according to him, would be operating from the ultra modern motor park built by the foundation. Our correspondent reliably gathered that the motor park, a new police station, gigantic civil centre with guest house that has about 30 rooms, offices and two halls with the capacity to contain about 1000 people also built and to be donated free to the communities by the Senator Bright Nwanne Foundation would be commissioned soon. The police station, solely built by Senator Bright Nwanne, which is among the projects to be handed over soon to the appropriate authorities, would be named after the first senior police officer produced by the Onicha community as “S.I. Egbuka Police Station, Onicha Mbaise”. He was the ADC to Dr. Akanu Ibiam, the first Governor of Eastern region. His wife, Mrs. Egbuka also rose and became Commissioner of Police, and his first son is presently the Commissioner of Police, Plateau State. “You can see they have brought a Good name of Onicha Mbaise in the map of Nigeria and the world. That police station when handed over will be in honour of S.I. Egbuka,” he said. Nwanne, a third republic senator who at a tender age became a senator of the Federal Republic of Nigeria due to his humility and astuteness in life, has since then continued to maintain such posture. He was also a member of the Constituent Assembly that drafted the Nigerian Constitution which midwifed that republic, though short-lived due to military incursions into the Nigerian political foray, he believes in the development of the country, hence he has not relented in promoting any cause that is geared towards making Nigeria a great nation as it were. Ever since he became a national figure going by his numerous contributions both in the Constituent Assembly and the Senate, Nwanne has not looked back in also contributing to the development of his immediate community, Ezinihitte as well as the Mbaise nation and Imo State at large through his philanthropic gestures spanning from offering employment to many to assisting others in their educational pursuit. He is a believer of the development of Nigeria as well as a peace-loving, humanitarian personality that likes putting joy and smiles in the face of the people. A successful businessman par excellence with interest in manufacturing, international

The programme was aimed at creating meaningful jobs as a way of eradicating crimes among the youths in the communities. It was also targeted at reducing other criminal activities in the area as the youths would be fully engaged into meaningful ventures that eventually make them self-reliant

Senator Bright Nwanne trade, and real estate, Nwanne also contested the governorship primaries under the Peoples Democratic Party (PDP) in 2015. In his remarks, the chairman of Ezinihitte Council of traditional Rulers, HRH, Eze Ossy Nwokocha who was represented by the deputy chairman, HRH, Eze Ifeanyi Uwaghemu praised the patriotic zeal of Senator Nwanne in the development strive of the area. He counseled the beneficiaries to utilise the empowerment judiciously. “This empowerment by our son, Senator Bright Nwanne is completely out of politics because the beneficiaries cut across all segments of the youths in the communities irrespective of their political leaning of the beneficiaries. "His ultimate aim is to reduce criminality in the society hence he targeted the vulnerable group which is the youths. The cause of crimes is because of lack of job and when somebody is meaningfully engaged in business, such a person cannot think of involving in any criminality of sorts. “We as traditional rulers and our people are happy with our son for this wonderful gesture and we wish him well in his endeavours. I call on other well-to-do people to emulate Senator Nwanne to extend hands of goodwill to the needy in the society. "For him to build the police station, gigantic civic centre with halls and guest rooms, and motor park and donate to our community he has done marvelously well. In that regard, I want to stress that seeing all these developmental projects brought by our son, I had to donate my land as part of my contribution towards the building of the police station,” Eze Uwaghemu said. For Mbanefo Nwanne, the younger brother to Senator Bright Nwanne, he commended the initiative of his senior brother to provide for the wellbeing of the people of his community, particularly by empowering the youths. “From the inception of the Senator Bright Nwanne Foundation, I have been involved and our principal does not believe in half measures. If it is not the best, he will not go into it.” He urged the beneficiaries to apply wisdom in managing their business so that it would grow and others would benefit from it. One of the beneficiaries, Ibe Benjamin Chinenye from Umelagwa Onicha expressed joy for being part of the empowerment. According to him, "I am highly overwhelmed with what is happening here today. Some expressed doubt that it was a political thing but today, it has come to pass that it is a reality and there is no politics attached to it. "You can see that the donor is not here personally, that is to say that he is not playing politics with the empowerment. I bless Senator Bright Nwanne and urge other beneficiaries to take the empowerment seriously by living up to expectation. We are the pacesetters; the way we handle it will make him do more for our people." Also, other beneficiaries eulogised the donor for remembering the youths and promised to be good ambassadors of the foundation and the communities where they come from.

T H I S D AY ˾ WEDNESDAY OCTOBER 27, 2021

CRIME&SECURITY

Clamour for Redress Pitches Nigerian Workers with Chinese Employers Adibe Emenyonu writes on the current face off between Yongxing Steel Company and its Nigerian workers over the latter's demand to set up a union to address allegations of unfavourable working conditions

Two workers of the company whose arms and legs were amputated after a factory accident

ongxing Steel Company is a manufacturing enterprise that produces steel for building and constructions. It is located at Ogua, a community in Ikpoba-Okha Local Government Area of Edo State by the bypass in Benin City. The company began operation in 2013, and since then grew in bounds with over 700 workers, and 10,000 indirect jobs that produces various kind of steel products such as iron rods, electrodes coil wire and binding wire. Waste to Wealth No doubt, the firm is a "waste to wealth" establishment with raw materials derived from waste metals considered otherwise as problem in the environment. "We empower people to gather these waste metal and use technology to recycle them and produce some of the best products that are used in the construction industry", said the Managing Director, Mr, Frank Wang at a special media briefing. Wang, who was represented by the company's Chief Public Relations Officer, Mr. Ben Den, noted that Yongxing is not only creating employment, but cleaning the environment and contributing immensely to the construction sector which is considered very vital to a growing economy such as Nigeria. Drumming Support for Investment It was against this backdrop that the CEO of the steel company drummed support for other investors to take advantage of Nigeria's growing economy to invest in the country. While expressing the firm's willingness to support the country, he stressed that challenges in Nigeria is not enough reason for investors not to take advantage of its huge population and the growing economy to invest. "I want to use this opportunity to encourage other foreign investors not to run away from Nigeria. There is no economy that does not have difficulties. Our duty is to support the nation in her efforts to surmount those difficulties. Those of us in the construction sector, we need to be more patient with Nigeria. Nigeria is a growing economy and will continue to grow. "With the huge infrastructural gap in the country, the construction sector will continue to grow and any foreign investor in that sector is not likely to regret at the end," he started, adding that investors who are shying away from investing in the country, particularly in the construction industry, will live to regret it in future. CSR and Internal Welfare Wang further said that since its inception, the company has through its Corporate Social Responsibility (CSR) been able to take care of both its internal and external clients - employees, host community as well as carry out public functions to assist the Government of Edo State, and the University of Benin Teaching Hospital (UBTH). For instance, he said at the heat of the COVID-19 last year, it donated palliative worth N120 million to the state government, local

banks and friends including sanitisers and face mask, as well as donated to 50 market shops and water borehole to its immediate host community, Ogua. Not left out he said are orphanage homes, Idogbo Secondary School, UBTH and the Police Zone 5 Command where they donated food items, chairs and desk, medical supplies respectively. On worker's welfare, he said management of the company has instituted long service awards for employees that have put in three years and above to encourage them, as well as good healthcare facilities in cooperation with authorities of UBTH for staffers especially when factory accidents occur. Besides, he said workers of the company are provided with free accommodation, 24 hours electricity, water supply and relaxation facilities as well as training- both local and foreign to ensure efficiency. Deep Disaffection However, beyond these self appraisals and publicity stunt, lie deep disaffection between the company and larger members of its workforce over unionism. The first sign to show that all is not well with those who have daily contact with the company is the surrounding. Even the road to its corporate headquarters and factory is dotted with potholes, and waste water from the factor by the sides of the road, leaving one driving in and out of the premises to wait for any on-coming vehicle to first go before assessing the place. It is in this surrounding with makeshift structures that some of the workforce stay, breathing contaminated air fouled by the pollutants from the factory. Dissenting Voices over Clamour for Union That notwithstanding, the workers are polarised between the majority agitating for a union, and the minority who said they do not want union; which findings show are being backed by management of the company. Speaking on the issue of establishing an in-house union for workers, Mr. Wang who initially disclosed that the industrial dispute between management and the workforce is under control, however, noted that "in the Nigerian Constitution, union

is a choice", adding " I have not met any staff who said he wants to join union. My idea of union is that they want money from their fellow staff". Wang's opinion was also amplified by one of the anti-union workers, Mustapha Mohammed, who said in the course of interactions that "we don't want union. Everything we need, the company provided so we don't need union because they are like Civil Society Organisation (CSOs) who come to cause trouble and destroy". However, when asked if he has appointment letter, he was not forthcoming with any answer. Airing their minds, the company workforce at loggerhead with management of the company over the quest for unionism, anchored their reasons on the maltreatment on the part of the firm in their quest to continue to oppress workers. Speaking to journalists outside the company's premises, the Vice Chairman of the Local Steel and Engineering Workers Union of Nigeria, Comrade Emos Iorsang, disclosed that since August 19, 2021, a good number of them agitating for inhouse union have been locked out by management of Yonxing Steel Company He said the worker's reason for a union is to have a collective voice to fight maltreatment, discrimination and the injustice going on there. For instance, he said since the company began operation in 2013, none of them have been given letter of appointment but just an identity card in the guise that they are staff, whereas any of them that suffers factory accident is left to his own fate. According to Iorsang who was surrounded by his colleagues when he was addressing journalists, "the issue we have with the company is that the management is maltreating us. When any factory accident occurs, the management will not care. Since 2013 it started operation, workers do not have letter of appointment, including those they made to counter our agitation. "We are treated as casuals. We are calling on the parent body to come to our aid because since August 19, the company locked us out simple because we demanded union to prevent maltreatment." National Steel Union's Unsuccessful Intervention Nevertheless, Comrade Kassim Kadiri,

Why does Chinese companies who are affiliated to trade unions back in their country come to Nigeria to suppress unionism? The ball this time falls squarely on the court of Governor Godwin Obaseki who should tell it to their face that they cannot come to Nigeria and begin to play double standards because both Chinese government and the laws of Nigeria recognise labour union

National Secretary of National Union of Steel and Engineering Workers of Nigeria reacting to the face off between the organisation and its workforce, said the challenges the union is having with the management of Yonxing is its refusal to allow the workers join the National Union of Steel and Engineering Workers According to him, "We got to know about the company in 2013, and we have tried to unionise the workers, but what they did was to organise some workers inside the company, who said that they don't want a union. We wanted to meet the management, but they kept turning us around until 2014 when we declared a trade dispute against the management. "Along the line, the Ministry of Labour in Edo State intervened. One Mr. Igbiniovia was sent by the ministry to mediate and in 2O15, we signed a Memorandum of Agreement (MOA) for the parties." Among the agreements reached, he said, were: " (a) recognition of the union by the company; (b ) that the management and the union should sit and discuss, so that the union can be formally inaugurated. The management didn't honour this agreement until we declared another trade dispute in 2018." He further noted that by some intervention, the parties reached an agreement on the modalities for a union but expressed surprised at the sudden u-turn by the company management, pointing out that Edo State government has set up another committee to look into the industrial dispute in the company. Whatever is the situation, it is of utmost worry why some Chinese firms operating in Nigeria are allegedly in the habit of oppressing Nigerians working in their companies to the extent of turning them into second class citizens, whereas back home in their country, such does not exist. Back home in China, as findings have revealed, there is the All-Chinese Federation of Trade Unions (ACFTU), officially founded on May 1, 1925 with 277 delegates members. Presently, the federation led by Wang Dongming, comprises 1,713 primary trade union organisations. According to statistics, by 2005, the ACFTU of China has 134 million members, 193 million in 2008, 250 million in 2012, and 302 million in 2017. Besides, information also revealed that the ACFTU of China is affiliated to the International Trade Union Congress (ITUC) otherwise know as World Federation of Trade Unions (WFTU) with representatives in 163 countries. With the following information therefore, the question to ask is: why does Chinese companies who are affiliated to trade unions back in their country come to Nigeria to suppress unionism? The ball this time falls squarely on the court of Governor Godwin Obaseki who should tell it to their face that they cannot come to Nigeria and begin to play double standards because both Chinese government and the laws of Nigeria recognise labour union, an association of workers in a particular trade, industry, or company created for the purpose of securing improvements in pay, benefits, working conditions, or social and political status through collective bargaining.

T H I S D AY ˾ ˜ OCTOBER 27, 2021

BUSINESS/MONEYGUIDE

Expert: Inflation Not Likely to Leave Double-digit Zone Soon Ugo Aliogo ËØÎ Shalom Uzochukwu

With the continued weakening of the naira and the knock on effect on other areas of the economy, the Chief Commercial Officer, Prosperis Holdings, Mr. Efe Shaire, has expressed concerns over the continued double-digit inflation, noting that the trend is not likely to change in the remaining period of the year. Shaire, who disclosed this yesterday in an interview with THISDAY, said it is expedient to clarify that it is the year-on-year inflation rate that dropped by 0.38% (from 17.01% to 16.63%) while the month-on-month index actually increased further by 1.15%, “this implies that inflation is still on the rise even though the trend from last year was worse month-on-month than the corresponding period this

year.” He also noted that with the Consumer Price Index (“CPI”) which is the speed at which the prices of the goods and services bought by households rise or fall was 344.7 as at October last year and currently stands at an all-time high of 396 at the moment. He further explained that as the prices of these essential commodities such as power bills, cost of gas, passenger transport, and others increases, there is a cost-push effect on inflation and the producers of inelastic commodities such as food, hospital services, and clothing are able to push the burden to the final consumer, who in turn requirehigher wages to keep up with their basic consumption needs. He hinted that because of the high rate of unemployment, it has become

more difficult for consumers to shift these costs to firms. According to him, “The views of the Statistician-General, Nigeria Bureau of Statistics (NBS), that the country is operating an imperfect economy where the prices in one market are different from another is true and it is inevitable because of the opacity of Nigeria’s commodity markets. This is further impacted by a variety of factors including security challenges and the poor state of infrastructure in certain regions. “Even the most efficient market systems experience price differentials and arbitrage opportunities, but these are usually temporary and the market is usually able to take in new and available information and quickly adjust the market events to establish price parity.

MARKET INDICATORS

Bacita Sugar Vows to Generate N46.7billion Revenue by 2027 Hammed Shittu ÓØ ÖÙÜÓØ The management of the newly acquired Bacita Sugar Company, Kia Africa Group Limited has said that, by 2027, the company is committed to generate N46.billion revenue, produce estimated 300,000 metric tons of Sugarcane and refine an estimated 204,000 metric tons. Besides, the company said about 20,000 workers will be employed to drive the company to a optimum production in order to ensure economic growth of the country. The Group Manager of the company, Mr. Ife Emmanuel stated this in Bacita town in Edu local government council area of Kwara state while unveiling the road map for the revatilisation of

the newly acquired Bacita Sugar Company. He said, “We have set a 3-phase approach to the rollout plan as the first phase which will run from 2021 all the way into part of 2023 –is what we call the Resuscitation Phase: Under this phase, farming activities will commence with land preparation, getting the irrigation system back to live, through to seedling-in the sugarcane and eventual commercial sugarcane production. “The total land under sugarcane production in this phase is 5,000Ha and simultaneously, we will commence the installation process for the new processing mill, the refurbishing of existing equipment with useful lives. Under this phase, we will also put the structure together for the out grower scheme with a

target of 5,000 farmers in this first phase.” He added that, “The second phase runs from 2023 to 2025– It is known as the - Consolidation Phase. In the phase, we will consolidate the farm and the refinery - continue, the infrastructure development including the processing capacity, expanding the irrigation facility and the farmland, from 5000Ha to 13,000 Ha, full factory setup including milling and refining. The target for us, at the end of this phase, is to have milled at least 176,000MT of sugar per annum. “The phase three goes from 2025 to 2028 – this is the Expansion Phase: after consolidation, in this phase we will scale up operations, bringing capacity utilization to at least 80%.

‘Africa Prudential is Disrupting Technology Space with Business Solution Services’ Africa Prudential said that it is creating a growing list of business solutions for corporates across several sectors of Nigeria’s economy as it pushes ahead with its transformation into a digital technology provider. The business solution services, it stated, are designed to build robust enterprise solutions for companies, government agencies, and not-for-profit organizations. The CEO of Africa Prudential, Obong Idiong in a statement said the solutions enable disruptive innovations, value creation

and growth for businesses, that is central to the achievement of their goals. He said, “we are delighted to present our business solutions services to corporate entities and other organizations across Africa. The solutions that we have built for our clients in the last 3 years are milestones in our evolution from a solely investor services firm to a digital technology and investor services firm. We continue to challenge the status quo and to engage business leaders on the need to reimagine their business more competitively for growth,

efficiency and to reposition in the rapidly evolving competitive landscape. We then embrace the challenge to build the tools that they require to get there.” Since its foray into the technology space in 2017, Africa Prudential has continued to build its capacity to transform businesses using technology as an enabler. The firm continues to invest in its Innovation Lab where a team of technology professionals are stimulated to leverage on Design Thinking processes to translate the dreams of clients into creative and innovative technology solutions.

Youth Council Hails Nami on FIRS Reforms The National Youth Council of Nigeria (NYCN) has described reports criticising the proposed 2022 expenditure of the Federal Inland Revenue Service (FIRS) as spurious and mischievous. National President of the NYCN, Solomon Adodo, who stated this at a media briefing in Abuja, while commending the good work done by the FIRS boss, noted that since the assumption of office by the Chairman, Muhammad Nami, on December 18, 2019, he has initiated and implemented several strategic reforms aimed

at making tax administration more effective, particularly through expanding the National Tax Net so that more revenue could be generated without raising the percentage of tax paid. “The determination of the Nami-led FIRS to go after some big and hitherto untouchable tax offenders has continued to gain traction. For example, many businesses that either did not pay taxes or did not pay the correct amount have been made to pay under the very deliberate programme of the Management,” the council said. He expressed worry over a

recent publication and the alleged “sinister intentions behind it.” Adodo noted that the NYCN would not fold its hands to watch individuals or corporate organisations drag the FIRS and its well-intended programmes, aimed at salvaging the country’s economy, to the mud. “NYCN cannot sit back and watch the national tax administration and the wellintentioned programmes of the FIRS be dragged into the mud, especially if viewed against the backdrop of the fact that the agency mobilises revenue for our Commonwealth”.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, OCTOBER 7

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 ˾ ˜ Ͱ͵˜ ͰͮͰͯ

FBN Holdings Tops Stock Market Activity Chart with 73.06m Shares Darasimi Adebisi Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 73.062 million shares valued at N906.755 million on the Nigerian Exchange Limited (NGX) yesterday. Followed was Guaranty Trust Holding Company with 25.039 million shares worth N715.263 million, while Universal Insurance traded 22.771 million shares

valued at N4.919 million. United Bank for Africa (UBA) traded 20.331 million shares valued at N171.208 million, while Transnational Corporation of Nigeria (Transcorp) transacted 18.437 million shares worth N18.864 million. Meanwhile, trading activities on the NGX yesterday closed flat as the market traded N5.570 billion shares. In summary, the All-Share Index (ASI) increased slightly by

P R I C E S MAIN BOARD

F O R DEALS

0.20 basis points, representing an increase of 0.0005 per cent, to close at 41,814.94 basis points, while, the overall market capitalisation value closed at N21.821 trillion. The market performance was driven by price appreciation in large and medium capitalised stocks which are; International Breweries, UAC of Nigeria (UACN), C & I Leasing, Lafarge Africa, and Ecobank Transnational

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

Incorporated (ETI). The market breadth closed positive, recording 22 gainers against 21 losers. Universal Insurance and University Press recorded the highest price gain of 10 per cent each to close at 22 kobo and N1.65, respectively, while Courteville Business Solutions followed with a gain 9.76 per cent to close at 45 kobo, per share. Abbey Mortgage Bank rose by 9.30 per cent to close at

T R A D E D MAIN BOARD

A S

94 kobo, while International Breweries gained 9.28 per cent to close at N5.30, per share. On the other hand, Associated Bus Company led the losers’ chart by 8.82 per cent to close at 31 kobo, per share. FTN Cocoa Processors followed with a decline of 6.25 per cent to close at 45 kobo, while Cutix lost 5.47 per cent to close at N6.05, per share. Nigerian Exchange Group (NGXGroup) lost 4.61 per

O F

cent to close at N19.65, while Sovereign Trust Insurance shed 4.17 per cent to close at 23 kobo, per share. Meanwhile, the total volume of trades depreciated by 47.63 per cent to 353.233 million units, valued at N5.570 billion, and exchanged in 5,322 deals. Analysts at Afrinvest Limited said that “We expect the bullish run to be sustained following nine months of 2021 earnings releases.”

2 6 / 1 0 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

WEDNESDAY, ͺͿ˜ ͺ͸ͺ͹ ˾ T H I S D AY

Wednesday, October 27, 2021

dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĚǀĂŶĐĞĚ ϳďƉƐ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĨĞůů ďǇ ϭϰďƉƐ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ŐĂŝŶĞĚ ϳďƉƐ ƚŽ ĐůŽƐĞ Ăƚ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĚĞĐůŝŶĞĚ ďǇ ϭϰďƉƐ ƚŽ ƐĞƩůĞ

THISDAY AFRINVEST 40 INDEX

ϭ͕ϳϳϮ͘ϭϯ ƉŽŝŶƚƐ ĚƌŝǀĞŶ ďǇ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ t W K ;нϭ͘ϮйͿ͕ Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ h ;нϭ͘ϮйͿ͕ ĂŶĚ ĂŶĚ /Ed Z t ;нϵ͘ϯйͿ͘ dŚĞƐĞ dŚĞƐĞ ƐƚŽĐŬƐ ƐƚŽĐŬƐ ĐƵŵƵůĂͲ ĐƵŵƵůĂͲ t W K ;Ͳϭ͘ϯйͿ͕ h ;ͲϬ͘ϳйͿ͘ ƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϴ͘Ϭй ŽĨ ƚŚĞ ŝŶĚĞǆ͘ ƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘

DƵƚĞĚ KƵƟŶŐ ŝŶ ƚŚĞ ƋƵŝƟĞƐ DĂƌŬĞƚ͘͘͘ ^/ ĐůŽƐĞƐ &ůĂƚ ^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Ticker

THISDAY AFRINVEST 40

1,772.13

0.07%

780.00

0.0%

28.8%

72.00

0.0%

10.5%

-6.9%

28.50

-0.3%

8.2%

-11.9%

zĞƐƚĞƌĚĂǇ͕ ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞǆ ĐůŽƐĞĚ ŇĂƚ Ăƚ ϰϭ͕ϴϭϰ͘ϵϰ

1 Airtel Africa PLC 2 BUA Cement Plc

ƉŽŝŶƚƐ ĂƐ ŐĂŝŶƐ ŝŶ h ;нϭ͘ϮйͿ͕ t W K ;нϭ͘ϮйͿ͕ ĂŶĚ

3 Guaranty Trust Holding Co PLC 4 Zenith Bank PLC

zĞƐƚĞƌĚĂǇ͕

ƉƌŝĐĞ

ƵƉƟĐŬ

ŝŶ

,KEz&>KhZ

;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, ;нϬ͘ϳйͿ ďŽůͲ /Ed Z t ;нϵ͘ϯйͿ ǁĞƌĞ ŝŶƐŝŐŶŝĮĐĂŶƚ ƚŽ ůŝŌ ŵĂƌŬĞƚ ƉĞƌĨŽƌͲ ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ ŵĂŶĐĞ͘ EŽŶĞƚŚĞůĞƐƐ͕ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ േϭϬϳ͘Ϭŵ ƚŽ ^ŚĂƌĞ ŝŶĚĞǆ ƌŽƐĞ ďǇ േϮϭ͘ϴƚŶ ĂŶĚ zd ƌĞƚƵƌŶ ƌĞŵĂŝŶĞĚ Ăƚ ϯ͘ϴй͘ DĂƌŬĞƚ ĂĐƟǀŝƚǇ ϭϭďƉƐ ƚŽ ϯϵ͕ϱϱϬ͘ϯϲ ƉŽŝŶƚƐ͘ ŽŶƐĞƋƵĞŶƚůǇ͕ zd ůŽƐƐ ŝŵͲ ǁĞĂŬĞŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ĚĞĐůŝŶĞĚ ϰϴ͘ϰй ĂŶĚ Ϯϲ͘ϳй ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďǇ ƌĞƐƉĞĐƟǀĞůǇ ƚŽ ϯϰϴ͘ϯŵ ƵŶŝƚƐ ĂŶĚ േϱ͘ϲďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ǁĂƐ ŵŝǆĞĚ ĂƐ ǀŽůƵŵĞ ƐƚŽĐŬƐ ďǇ ǀŽůƵŵĞ ǁĞƌĞ & E, ;ϳϯ͘ϭŵ ƵŶŝƚƐͿ͕ 'd K ;Ϯϱ͘Ϭŵ ƚƌĂĚĞĚ ďǇ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǁŚŝůĞ & E, ǀĂůƵĞ ƵŶŝƚƐͿ͕ ĚĞĐůŝŶĞĚ ĂŶĚ hE/s/E^hZ ;ϮϮ͘ϴŵ ƵŶŝƚƐͿ ƚƌĂĚĞĚ ƌŽƐĞ 'd K ďǇ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ E/' Z/ E ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ;േϵϬϲ͘ϴŵͿ͕ ;േϳϭϱ͘ϯŵͿ͕ ĂŶĚ Z t ZͲ ďǇ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ / ^ ;േϲϴϱ͘ϭŵͿ ůĞĚ ďǇ ǀĂůƵĞ͘ ƵŶŝƚƐͿ͕ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕ E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďǇ ǀĂůƵĞ͘ WŽƐŝƟǀĞ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ƵůůŝƐŚ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ƌĞĐŽƌĚĞĚ ĂĐƌŽƐƐ ŽƵƌ ƐĞĐƚŽƌ ĐŽǀĞƌĂŐĞ ƐĂǀĞ ƚŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞǆ ǁŚŝĐŚ ĨĞůů Ϭ͘ϰй ĚƵĞ ƚŽ ƐĞůůͲŽīƐ ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ŝŶ K E K ;нϭ͘ϬйͿ͕ ĂŶĚ Ă ŇĂƚ ƉĞƌĨŽƌŵĂŶĐĞ ŝŶ ƚŚĞ &ZͲ/ d ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŝŶĚĞǆ͘ ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ůĞĚ ƚŚĞ ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞǆ ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ŐĂŝŶĞƌƐ͕ ƵƉ Ϭ͘ϱй ĂŶĚ Ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶĚĞǆ ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ ŝŶ WZ ^d/' ;нϳ͘ϬйͿ͕ hE/s/E^hZ ;нϭϬ͘ϬйͿ͕ h ;нϭ͘ϮйͿ ĂŶĚ Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ d/ ;нϮ͘ϬйͿ͘ ƵǇŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ t W K ;Ͳϭ͘ϮйͿ͕ hE/> s Z ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ ;нϲ͘ϵйͿ͕ ĂŶĚ /Ed Z t ;нϵ͘ϯйͿ ďƵŽǇĞĚ Ă ϲďƉƐ ĂŶĚ ϰďƉƐ ƵƉͲ ϵ͘ϭйͿ͕ hE/> s Z ;Ͳϯ͘ϱйͿ͕ >/E< ^^hZ ;Ͳϲ͘ϰйͿ͕ ƐŝĚĞ ŝŶ ƚŚĞ /ŶĚƵƐƚƌŝĂů ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ƌĞƐƉĞĐͲ ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ ƟǀĞůǇ͘ ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďǇ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůůͲ ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĂŶĞƐ ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ Ğƌ͕ ƵƉ ϭ͘ϴй ĚƌŝǀĞŶ ďǇ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂͲ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ǁĞĂŬĞŶĞĚ ƚŽ ϭ͘Ϭǆ ĨƌŽŵ ϭ͘ϰǆ ĂƐ ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘ ϮϮ ƐƚŽĐŬƐ ŐĂŝŶĞĚ ĂŐĂŝŶƐƚ Ϯϭ ůŽƐĞƌƐ͘ hW> ;нϭϬ͘ϬйͿ͕ hE/s/EͲ ^hZ ;нϭϬ͘ϬйͿ͕ ĂŶĚ KhZds/>> ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ ǁŚŝůĞ

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ dZ E^ ;Ͳϴ͘ϴйͿ͕ &dE K K ;Ͳϲ͘ϮйͿ͕ ĂŶĚ hd/y ;Ͳϱ͘ϱйͿ ůĞĚ ƚŚĞ ůĂŐŐĂƌĚƐ͘ tĞ ĞǆƉĞĐƚ ƚŚĞ ďƵůůŝƐŚ ďǇ ƌƵŶ ŵĂƌŬĞƚ ƚŽ ďĞ ƐƵƐƚĂŝŶĞĚ /ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďƌĞĂĚƚŚ ĨŽůůŽǁŝŶŐ ϵD͗ϮϬϮϭ ĞĂƌŶŝŶŐƐ ƐĞƩůŝŶŐ ƌĞůĞĂƐĞƐ͘ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ Ăƚ ϭ͘ϲǆ ĨƌŽŵ ϭ͘ϯǆ ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ ŽƌƉŽƌĂƚĞ ŝƐĐůŽƐƵƌĞ ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ D zͲ

Price Previous Current Change Price YTD Weighting Change

Current Price

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

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 28 PZ Cussons Nigeria PLC 29 United Capital PLC 30 Guinness Nigeria PLC 31 Custodian and Allied Insurance 32 AIICO Insurance PLC 33 TotalEnergies Marketing Nigeri 34 Julius Berger Nigeria PLC 35 Wema Bank PLC 36 Union Bank of Nigeria PLC 37 Oando PLC

P/E

5.7x

P/BV

Divindend Earnings Yield Yield

77.2%

15.0%

3.5%

-8.4%

12.3%

4.4%

-6.9%

19.1%

11.2%

34.6x

6.5x

-11.9%

24.8%

3.9%

4.3x

1.1x

10.5%

23.0%

0.8x

5.2%

14.1%

29.9%

2.0% 2.9%

24.80

-0.4%

6.7%

0.0%

21.8%

2.9%

3.3x

0.7x

12.1%

0.0%

6.9%

14.3%

44.7%

17.5%

14.1x

6.1x

6.3%

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%

106.8%

15.6%

27.3x

32.1x

4.3%

3.7%

25.00

1.2%

4.0%

18.8%

9.9%

7.1%

11.2x

1.1x

4.0%

8.9%

9.45

0.0%

3.2%

11.8%

18.3%

1.5%

2.5x

0.4x

9.0%

39.5%

2.1x

0.4x

6.5%

47.1%

10.6%

1.0%

5.8x

0.6x

3.6%

17.3%

8.45

1.2%

2.6%

-2.3%

12.40

-1.2%

4.2%

73.4%

50.00

-2.8%

1.8%

-10.7%

5.6%

2.2%

41.9x

2.4x

1.9%

2.4%

39.00

0.0%

2.1%

3.3%

15.4%

2.0%

9.0x

1.4x

10.5%

11.2%

-11.4%

-4.5%

5.30

9.3%

1.4%

-10.9%

29.40

0.0%

1.2%

13.1%

731.50

0.0%

1.9%

81.8%

1.0x

-12.1%

0.7x

5.6%

3.1%

1.7%

18.9x

0.6x

5.6%

5.3%

-100.0%

125.40

0.0%

1.1%

37.8%

37.4%

23.6%

9.3x

3.2x

5.5%

10.8%

2.76

1.1%

0.8%

9.5%

12.7%

1.2%

2.4x

0.3x

8.1%

41.7%

7.85

1.9%

0.9%

30.8%

1.5%

0.1%

25.5x

0.3x

18.00

0.0%

0.6%

2.3%

25.6%

12.1%

6.9x

1.6x

8.3%

14.4%

3.9%

3.19

1.3%

0.5%

-4.2%

1.52

1.3%

0.3%

-25.5%

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

2.2%

15.60

0.6%

0.2%

12.2%

-1.3%

-0.8%

1.4x

6.50

0.8%

0.3%

22.6%

4.8% 26.1%

-1.0% 3.8%

9.00

0.0%

0.4%

91.1%

2.0x

7.7%

30.00

0.0%

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%

0.94

-1.1%

0.2%

-16.8%

21.6%

3.3%

10.7x

0.4x

207.60

0.0%

0.3%

59.7%

1.9%

15.1%

25.00

0.0%

0.2%

41.9%

18.3%

2.4%

5.0x

0.8x

1.6%

19.9%

0.74

-1.3%

0.1%

7.2%

11.7%

0.7%

4.2x

0.5x

5.4%

23.8%

0.0%

-100.0%

7.5%

0.9%

5.5x

0.6x

5.0%

-2.0%

0.2%

33.8%

14.5%

2.6%

2.1x

0.3x

33.8%

62.50

0.0%

0.1%

0.0%

-38.7%

-9.5%

0.0%

0.1%

-4.4%

12.8%

8.7%

5.97

0.0%

65.8%

P ric e

9.4%

6.6x

52.95

2.1x 5.4x

18.1% 46.9% -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 T ic k er

ROA

280.00

4.95

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

ROE

20.7%

0.0%

19 Fidelity Bank PLC 20 Ecobank Transnational Inc

Price Change Index to Date

P ric e C hg %

T ic k er

Vo lum e

P ric e C hg %

UP L

1.65

10.0%

FB NH

73.1

-1.2%

UN IVIN SUR E

0.22

10.0%

GT C O

25.0

-0.3%

C OUR T VILLE

0.45

9.8%

UN IVIN SUR E

22.8

10.0%

A B B EYB D S

0.94

9.3%

UB A

20.3

1.2%

IN T B R EW

5.30

9.3%

T R A N SC OR P

18.4

0.0%

R EGA LIN S

0.41

7.9%

14.0

-2.8%

P R EST IGE

0.46

7.0%

A C C ESS

13.0

0.0%

C ILEA SIN G

4.70

6.8%

WEM A B A N K

12.4

-1.3%

CHA M S

0.23

4.5%

NA HCO

11.8

0.3%

NP FM CRFB K

1.92

3.8%

F ID ELIT YB K

11.6

1.1%

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

h D Ed ƌĞƉŽƌƚĞĚ ϵD͗ϮϬϮϭ ƌĞƐƵůƚƐ ǁŚŝĐŚ ƐŚŽǁĞĚ Ă < Z ;нϵ͘ϴйͿ͕ ĂŶĚ ŝƚƐ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ ϭϵ͘ϰй ǇͬǇ ŝŶĐƌĞĂƐĞ ŝŶ ƌĞǀĞŶƵĞ ƚŽ േϭϴϲ͘ϵďŶ͘ KƉĞƌĂƟŶŐ ƉƌŽĮƚ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ ƌŽƐĞ Ϯϭ͘ϱй ǇͬǇ ƚŽ േϳϱ͘ϳďŶ ĚĞƐƉŝƚĞ Ă Ϯϲ͘Ϯй ŐƌŽǁƚŚ ŝŶ KW y͘ ^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ zĞƐƚĞƌĚĂǇ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ ůƐŽ͕ W d ŐƌĞǁ Ϯϯ͘Ϯй ǇͬǇ ƚŽ േϲϱ͘ϵďŶ͘ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝǆĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůǇ '> yK^D/d, ƌĞĐŽƌĚĞĚ Ă ϯďƉƐ ǇͬǇ ŐƌŽǁƚŚ ŝŶ ƌĞǀĞŶƵĞ ƚŽ ǁŝŶĚƐ ƵƉ͘ േϭϲ͘ϱďŶ ŝŶ ŝƚƐ ϵD͗ϮϬϮϭ ƌĞƐƵůƚƐ ǁŚŝůĞ W d ĨĞůů ϳϭ͘ϴй ǇͬǇ

ƚŽ േϭϮϮ͘ϳŵ ĂƐ KW y ƌŽƐĞ ϭϬ͘ϰй ǇͬǇ ƚŽ േϰ͘ϯďŶ ĂŶĚ Ă ĮŶĂŶĐĞ ĐŚĂƌŐĞ ŽĨ േϰ͘ϰŵ ǁĂƐ ƌĞƉŽƌƚĞĚ͘

P ric e C hg %

T ic k er

Value

A B CTRA NS

0.31

-8.8%

FB NH

906.8

-1.2%

F T N C OC OA

0.45

-6.2%

GT C O

715.3

-0.3%

C UT IX

6.05

-5.5%

685.1

-2.8%

-4.6%

A IR T ELA F R I

554.9

0.0%

504.0

0.0%

T ic k er

N GXGR OUP

P ric e

19.65

P ric e C hg %

SOVR EN IN S

0.23

-4.2%

N EST LE

UN IT YB N K

0.55

-3.5%

M TNN

331.8

0.0%

193.9

-0.4% 0.0%

LIVEST OC K

2.25

-3.4%

Z EN IT H B A N K

M B EN EF IT

0.29

-3.3%

SEP LA T

187.2

-3.3%

UB A

171.2

1.2%

-2.8%

N GXGR OUP

161.2

-4.6%

R ED ST A R EX NB

3.20 50.00

WEDNESDAY OCTOBER 27, 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 25Oct-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 163.29 165.73 1.19% Afrinvest Plutus Fund 100.00 100.00 7.91% Nigeria International Debt Fund 319.65 319.65 -15.98% Afrinvest Dollar Fund 105.32 106.37 -4.83% 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 3.31 3.37 -4.15% 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 141.52 143.31 6.40% info@anchoriaam.com Anchoria Fixed Income Fund 1.14 1.14 -14.46% 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 20.59 21.21 13.52% ARM Discovery Balanced Fund 449.48 463.03 12.27% ARM Ethical Fund 39.47 40.66 17.08% ARM Eurobond Fund ($) 1.08 1.09 -1.08% ARM Fixed Income Fund 0.98 0.99 -5.97% ARM Money Market Fund 1.00 1.00 8.29% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 106.94 106.94 5.14% AVA GAM Fixed Income Naira Fund 1,046.22 1,046.22 4.62% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.07 2.07 -4.75% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.23 2.27 3.79% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.03 1.03 4.12% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.20% Paramount Equity Fund 17.30 17.62 8.18% Women's Investment Fund 141.16 142.81 6.08% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.46% Cordros Milestone Fund 2023 123.54 124.37 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 109.37 109.37 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 1.00 1.00 8.36% Coronation Balanced Fund 1.23 1.25 2.68% Coronation Fixed Income Fund 1.42 1.42 -10.57% 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 N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A 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 1,434.42 FBN Balanced Fund 197.51 FBN Halal Fund 113.80 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

127.37 172.89

1.13 12.69% 103.91 3.86% invest@fbnquest.com Offer Price 1,434.42 198.86 113.80 100.00

Yield / T-Rtn 11.46% 5.24% 9.32% 9.02%

127.37 4.05% 175.16 14.36% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.98 1.71

Offer Price 1.00 3.98 1.75

Yield / T-Rtn 6.64% 2.97% 12.63%

1.19

5.07%

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 7.50% Vantage Balanced Fund 2.88 2.95 1.03% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 154.33 154.60 -0.75% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.32 1.45% Vantage Dollar Fund (VDF) - June Year End 1.06 1.06 3.72% 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 1,142.06 1,142.06 7.10% 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 12.07 12.17 15.48% 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) 100.43 100.43 7.12% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.05% 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 13.32% PACAM Fixed Income Fund 11.20 11.21 -7.84% PACAM Money Market Fund 10.00 10.00 6.90% PACAM Equity Fund 1.46 1.47 -7.73% PACAM EuroBond Fund 112.07 114.16 2.13% 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 3,400.74 3,436.65 5.88% Stanbic IBTC Bond Fund 234.06 234.06 4.10% Stanbic IBTC Ethical Fund 1.28 1.30 9.32% Stanbic IBTC Guaranteed Investment Fund 309.48 309.48 5.03% Stanbic IBTC Iman Fund 236.53 240.14 8.40% Stanbic IBTC Money Market Fund 100.00 100.00 7.45% Stanbic IBTC Nigerian Equity Fund 11,078.94 11,238.89 5.58% Stanbic IBTC Dollar Fund (USD) 1.28 1.28 4.42% Stanbic IBTC Shariah Fixed Income Fund 116.13 116.13 4.55% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 104.76 104.76 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 5.49% United Capital Equity Fund 0.92 0.94 15.37% United Capital Money Market Fund 1.00 1.00 8.77% United Capital Eurobond Fund 121.13 121.13 5.81% United Capital Wealth for Women Fund 1.09 1.11 6.86% United capital Sukuk Fund 1.07 1.07 6.65% 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 13.15 13.27 10.84% Zenith ESG Impact Fund 14.74 14.90 20.76% Zenith Income Fund 24.58 24.58 2.43% Zenith Money Market Fund 1.00 1.00 6.14%

REITS NAV Per Share

Yield / T-Rtn

124.98 53.90

10.62% 6.67%

Bid Price

Offer Price

Yield / T-Rtn

13.96 132.32 103.67 17.94 22.05

14.06 135.61 105.94 18.04 22.15

5.63% 10.04% 4.49%

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

3.95 5.58 17.80 1.00 21.55 157.40

4.05 5.68 18.00 1.00 21.75 159.40

5.30% -1.67% 9.89% 6.58% 5.02% -15.20%

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.

WEDNESDAY OCTOBER 27, 2021 • T H I S D AY

WEDNESDAY, OCTOBER 27, 2021 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Senators to Vote on Report Recommending C ri minal Charge s against Bolsonar o A Senate committee in Brazil is meeting to vote on whether to approve a damning report into the government’s handling of the Covid pandemic. The report, which was presented in the Senate last week, recommends that President Jair Bolsonaro face charges, including crimes against humanity. It is the culmination of a six-month inquiry which has revealed scandals and corruption inside government. President Bolsonaro has said that he is “guilty of absolutely nothing”. The report also accuses the president of misusing public funds and peddling fake news. In total, he could face nine criminal charges. But Mr Bolsonaro has insisted that his government “did the right thing from the first moment.” More than 600,000 people in Brazil are confirmed to have died from Covid, second only to the Covid death toll in the United States.

the group’s meetings. Myanmar skipped the summit in protest after the Association of Southeast Asian Nations shut out its top general from its meetings. ASEAN’s refusal to allow Senior Gen. Min Aung Hlaing to represent Myanmar at the summit was its harshest rebuke yet of the country’s military rulers since they ousted civilian leader Aung San Suu Kyi in February. Brunei, who is this year’s chair of the 10-member bloc, invited Myanmar’s highest-ranking veteran diplomat, Chan Aye, as a “non-political” representative, but she didn’t attend the meeting, Indonesian Foreign Minister Retno Marsudi told reporters in Jakarta. Marsudi said President Joko Widodo told the summit that ASEAN’s unprecedented downgrade of Myanmar’s participation “was a tough decision but it had to be done.”

Uganda Police Blame Rebel Group ADF for Bombings Police in Uganda are investigating two explosions in Kampala. A blast targeting a bus killed one person on Monday, and an explosion Saturday at a bar in the capital that left one person dead and several others injured. Police blamed both attacks on the rebel Allied Democratic Forces, an affiliate of Islamic State, and said arrests have been made. At a news conference Tuesday, Ugandan police spokesperson Fred Enanga said the commander of the Allied Democratic Forces, or ADF, Muhammed Nkalubo, coordinated the bombings. Enanga also said police have caught three men involved in setting up the attacks. “So far, we’ve managed to arrest three collaborators who were receiving money from the ADF sources and distributing it to their recipients, to their operatives and agents in the country.” He said the suspects, identified as Abdulrahman Waibi, Sanyu Nakitende and Aisha Katushabe, distributed $114,000 in connection with the attacks.

Cyberattack Paralyses Iran’s Filling Stations Iranian media say the country’s gas stations have been the target of a cyberattack that left many motorists stuck in long lines at closed stations. The attack, which was reported by the semiofficial ISNA news agency, targeted a government system that manages fuel subsidies. The Associated Press reports its journalists saw long lines at stations in the country’s capital, Tehran. ISNA said that when people tried to buy fuel with government subsidy cards, they received the message, “Cyberattack 64411.” That number was also seen during a summer cyberattack on the country’s railway system. Most Iranians rely on the subsidy cards, which allow them to buy gas at extremely low prices compared to much of the rest of the world. Iranian state TV reported that officials were holding an emergency meeting to address the apparent hack. Some Persian-language news outlets based outside Iran reportedly showed videos shot in the city of Isfahan showing an electronic billboard reading, “Khamenei! Where is our gas?” Ayatollah Ali Khamenei is Iran’s supreme leader. The attack came on the birthday of the late Shah of Iran, Mohammad Reza

Myanmar Skips ASEAN Summit After Military Ruler Excluded Southeast Asian leaders began their annual summit without Myanmar on Tuesday amid a diplomatic standoff over the exclusion of the leader of the military-ruled nation from

Pahlavi, who fled the country in 1979 in the face of the Islamic Revolution, also known as the Iranian Revolution. Americans Donate Airline Miles to Provide Flights for Afghan Refugees A campaign that began with ordinary people donating frequent-flyer miles has raised enough in two months to provide 40,000 flights for refugees from Afghanistan, and organisers and the White House are looking to nearly double that figure. About 3,200 flights with donated miles have already carried Afghans from temporary housing at U.S. military bases to new homes around the United States, according to organisers. Corporations have made half of the contributions so far, mostly in tickets donated by airlines, including ones that ferried refugees from bases overseas to the US under contracts with the federal government. The campaign was started by Miles4Migrants, a group that was founded in 2016 and uses donated miles and credit card points to help refugees. The group saw support for refugees fleeing Afghanistan in August, as the US military withdrew and turned the country over to the Taliban, and began talking to other nonprofits about helping. “Government resources are limited, and we knew that the American people wanted to support Afghans who were arriving and help them find safe homes,” said the group’s co-founder, Andy Freedman. “That’s when we turned to the airlines.” Japanese Princess Marries Commoner, Gives up Royal Status The niece of Japanese Emperor Naruhito, Princess Mako, married a commoner Tuesday, relinquishing her royal status following a heavily scrutinized, controversial four-year engagement. The Japanese Imperial Household Agency issued a statement announcing the marriage of Mako to Kei Komuro, both 30 years old. The couple broke with tradition by foregoing the usual rituals and ceremonies of royal weddings, including a reception, while Mako also refused the one-off payment of about $1.3 million typically made to royal women who leave the imperial family to marry. The couple had been classmates at Tokyo’s

International Christian University when they announced their engagement in 2017, saying they intended to marry the next year. But shortly after the announcement, a dispute involving money Komuro’s mother, a widow, had received from a former suiter surfaced and the wedding was postponed. Komuro wrote a lengthy statement explaining the situation, and but it is still unclear if the dispute has been fully resolved. Komuro spent the last three years at law school in New York City, where The New York Times reports tabloid newspapers documented everything from his hairstyle to the food trucks where he bought his lunch. Court: Crimean Gold Must Return to Ukraine A Dutch appeals court has ruled in favour of Ukraine in a long-running wrangle over a historic collection of ancient treasures that was prompted by Russia’s annexation of Crimea. The legal dispute began in 2014 when four Crimean museums tried to force the Allard Pierson museum in Amsterdam to send the gold back. Ukraine maintains the treasures, now held in storage, are state property. The appeal court in Amsterdam on Tuesday agreed. The museums, backed by Russia, could still take the case to the Supreme Court so there is little chance of the Scythian Gold collection being moved just yet. The Allard Pierson museum said in a statement it was “pleased that a verdict has been reached and that another step has been taken towards the eventual completion of this case”, but stressed it had no opinion on the appeal court’s ruling. The exhibition “Crimea - Gold and secrets of the Black Sea” went on display in Amsterdam in February 2014, the month that Ukraine’s pro-Moscow president was ousted and Russian forces seized Crimea from Ukraine. A disputed referendum on annexation the following month was rejected by the EU and US as illegal. The treasures were loaned by five museums, one in Ukraine’s capital Kyiv and four in Crimea itself. They included a gold Scythian ceremonial helmet dating back to the 4th Century BC and other treasures from the era when the ancient Greeks colonised the Crimean peninsula.

WEDNESDAY, ͺͿ˜ ͺ͸ͺ͹ ˾ T H I S D AY

FORTY-NINE IN RIYADH, BUHARI CALLS ON WORLD LEADERS TO INVEST IN POLICIES THAT GUARANTEE GLOBAL SECURITY and unfair distribution of wealth and resources, which according to him, denied the majority the opportunity to participate. He said the only way to prevent further escalation of global social unrest was for both governments and private sector stakeholders to start engaging in “humane investments,” which would factor the majority into the growth and development loop. The president said his administration would keep encouraging public and private initiatives to increase investments in health, education, capacity building, youth empowerment, gender equality, poverty eradication, climate change, and food security. “By so doing,” Buhari stated, “it will go a long way in re-energising the global economy in a post COVID-19 era.” He explained, “Nigeria is Africa’s largest economy and most populous nation. Our economic reforms, which focus on ‘humane’ investments, are ideal for investors looking to have profitable returns while positively impacting the citizenry. “Investing in humanity is the right thing to do. I strongly believe the historical under-investments in ‘humane projects’ is the genesis of most of the insecurity and socioeconomic challenges the world is experiencing today”. Speaking on the theme of the summit, “Investing in Humanity”, Buhari said the Nigerian perspective was to focus on people-oriented development policies, with diversification from oil to more inclusive sectors, such as agriculture, Information and Communications Technology (ICT), and mining. He said his government was also channelling its energies into tackling corruption, insecurity, and climate change, as well as introducing social investment programmes. Buhari stated, "Investing in humanity is investing in our collective survival. This is why we in Nigeria believe that public and private partnership should focus on increasing investments in health, education, capacity building, youth empowerment, gender equality, poverty eradication, climate change and food security.” The president also told the audience, “Nigeria’s population today exceeds 200 million people. Some 70 per cent are under 35 years old. When we came into government in 2015, we were quick to realise that long-term peace and stability of our country is dependent on having inclusive and humane policies. “In the past six years, our government took very painful but necessary decisions to invest

for a long-term prosperous future, knowing very well that this will come with short term pains.” He emphasised that humane investment practices were the only way to address the global challenges the world currently faced following the pandemic. According to him, “We should continue to sustain our efforts to combat the COVID-19 pandemic and mitigate its negative socioeconomic impact on our societies, build resilience and achieve recovery. “It is, therefore, my hope that this session will leverage on the enormous economic opportunities that lie ahead in order to satisfy the prevailing needs of our people and planet.” The president stated that investment in humanity must also take into consideration the debt burden on nations, which had been worsened by the COVID-19 pandemic. He said, "We cannot invest in humanity without relieving our countries from the crushing effects of the debt burden, especially, when the COVID-19 pandemic has increased the risk of deepening the debt portfolio of poor countries. “These nations increasingly allocate more and more resources towards external debt servicing and repayment at the expense of the health, education and other services that contribute to the overall wellbeing of their populations.” Buhari told the gathering that Nigeria's diversification effort had continued to yield result, particularly in agriculture. He disclosed, "We introduced policies that supported investments in agriculture and food processing. We provided loans and technical support to smallholder farmers, through the Anchor Borrowers Programme. “As a result, Nigeria today has over 40 rice mills from less than 10 in 2014. Nigeria also has over 46 active fertiliser blending plants from less than five in 2014. “Furthermore, in agriculture, we have reformed the process of obtaining inputs, such as fertiliser and seeds. We have several million hectares of available arable land and have embarked on the creation of Special Agriculture Processing Zones across the country. These initiatives we believe will make it easier for investors in agriculture.” The president said the oil sector was undergoing a reform that would make it more attractive and inclusive. He told the global investment public, “Two months ago, I signed the Petroleum Industry Act. The Act will serve as a catalyst to liberalise our petroleum sector. It has introduced a number of

incentives, such as tax holidays, 100 per cent ownership, zero interest loans, and easy transfer of funds. In addition, we have highly skilled in-country workforce and a large domestic market. “In mining, we have also made several opportunities available for investors. Nigeria is a country rich in minerals from gold, iron ore, tin, zinc, cobalt, lithium, limestone, phosphate, bitumen and many others. We have made the licensing process easier and also made extensive investments in rail and transportation. “Infrastructure investments represent significant potential for investors in Nigeria. We have opportunities in seaports, rail, toll roads, real estate, renewable energy and many others. We have created several institutions that are available to co-invest with you in Nigeria. “We have the Nigeria Sovereign Investment Authority and more recently, I approved the creation of Infrastructure Corporation of Nigeria. These institutions are run as independent world-class institutions to make investments in the country and are available to co-invest with you.”

He called for more interest in infrastructure, such as healthcare and education, which “present enormous opportunities for investors in a country our size.” Buhari said, “Digital Economy in Nigeria has many potentials for investment, as it has remained the fastest growing sector in both 2020 and 2021. Nigeria has many opportunities for investment in broadband, ICT hardware, emerging technology and software engineering. “We have recently approved the national policy on Fifth Generation (5G) network. Our aim is to attract investors in healthcare, smart cities, smart agriculture among others. The benefit of real time communication will support all other sectors of the economy." As a means to further improve and reposition Nigeria's economy to attract investors, the president said the, “e-Naira, the electronic version of our national currency, which puts us on track to become the first African country to introduce a Central Bank Digital Currency," was launched on October 25. He said, “We believe this and many other reforms will help us

the supply and distribution petroleum of products, revamp LPG infrastructure and build CNG plants." Kyari said the demand for natural gas could grow about four times over the next decade, increasing from 4.8 billion cubic feet per day (bcf/d) in 2020 to between 10 – 23 bcf/d in 2030. He said currently, supply to the domestic market was about 8bcf/d to power, 0.77 bcf/d to industries, and about 54 bcf/d was flared, while 3.2 bcf/d was for export gas through the LNG and the West Africa Gas Pipeline (WAGP). According to him, achieving this growth in demand would be occasioned by increasing the dispatchable capacity of existing power in line with the Presidential Power Initiative, which is less than 1.4 bcf/d). He added that the growth would be achieved through assuring delivery of major fertiliser projects (Dangote, Brass) 5 bcf/d), and enabling industrial demand for natural gas in the northern axis of the country (1.2 bcf/d). On the global oil market outlook, Kyari said, "Some $10.4 trillion global stimulus in response to the COVID-19 pandemic has led to the rebound in consumers' spending while incentives for long-term investments in hydrocarbon has waned." He stated that hydrocarbon would continue to be relevant in the global energy mix for the

climate change. “Climate change has triggered conflicts, food insecurity, irregular youth migration, rising level of sea waters, drought and desertification, as well as the drying-up of the Lake Chad. “In the Lake Chad Basin region, where Boko Haram insurgency continues to undermine the peace, security and development of the region, climate change is largely responsible for the drying up of the Lake Chad, which has shrunk by more than 85 per cent of its original size. “The diminishing size of the lake is at the root of the loss of millions of livelihoods, displacement of inhabitants and radicalisation of teeming youths in the region who are recruited to serve as foot soldiers in the insurgency. “In order to redress this situation and restore the lost fortunes of the Lake Chad Basin region, strong public-private partnership through massive investments will be needed to recharge the waters of Lake Chad. I am confident that this forum will rise to the challenge in the interest of durable peace and sustainable development of our region."

OSINBAJO URGES OECD COUNTRIES TO REDEEM $100BN PLEDGE TO NIGERIA, OTHERS the role of some online platforms. “Can a media organisation that engages in fake news and misinformation uphold the Constitutional role prescribed for the media? Can you be a watchdog when you are a dog of fake news and misinformation? Is it not said that he who must come to equity must come with clean hands?” he remarked. Presenting a summary of the outcomes of the summit earlier, the Vice Chair, NES 27, Technical Committee, Mrs. Adenike Adeyemi, said there were key thematic areas of focus. She listed the areas as High and sustained growth, Quality of life, National security, Political economy and digital transformation. The summit however, urged the federal government to adopt more recommendations from the just concluded National Economic Summit (NES) and previous summits to form policies that would deepen economic growth and development in the country. Chairman, NESG, Asue Ighodalo, said the group was not fully satisfied with the level of implementation and the trajectory of development, but, commended the federal government for the partnership so far. He said, "In the 26 years that we have been recommending, we are not as happy as we would

like to be as to the trajectory of development. But, we are happy with the support we get from government. "Over the years, we feel fairly satisfied that most of the recommendations have been extremely impactful to the government.” Minister of Finance, Budget and National Planning, Zainab Ahmed, while fielding questions on debt management, assured that

next two decades, quoting the recent data by the Organisation of Petroleum Exporting Countries (OPEC). According to the data, the world oil demand was expected to rise from a pandemic stricken 90.6 million bpd in 2020 to 108.2 million bpd in 2045, thereby accounting for 28 per cent of global energy needs. The OPEC data further stated that the rise in demand would be driven by growth in world population, which is set to expand to 9.5 billion by 2045, and the huge potential for expanding access to modern energy services for the under-served. "However, $11.8 trillion in oil-related investments will be required mostly in the US upstream to meet the market needs," Kyari noted. On the issue of downstream in transition, the NNPC boss noted that the Nigerian oil and gas industry has been in transition prior to the Petroleum Industry Bill (PIB) passage in response to the global energy transition and decarbonisation initiatives. Kyari maintained that it would be difficult to discuss the transition in the downstream sub-sector in isolation from the overall evolution that was happening in the industry. He said NNPC had diversified its portfolio over the years, transiting to an energy company with new investments in gas, power, and renewables, pointing out that key pipeline projects are on-going

Nigeria already had a strategy to ensure that all loans are paid as and when due. Ahmed said the loans were largely being used to develop the country's infrastructure, saying Nigerians would soon begin to feel its impact. "We don't just pull out numbers and borrow, this is a result of work that has been done to determine expenditure and what we expect to

generate in terms of revenue. We have a debt management strategy that guides how we borrow, it is carefully planned, calibrated so that we are able to meet the debt service obligations when they are due," she said. The minister further expressed concern about the worsening number of out-of-school children due to the level of insecurity in the country.

SDGS: SANUSI FAULTS SPENDING PRIORITY AS FAYEMI SEEKS MEASURES FOR SAFE SCHOOL Ghana are spending. We are spending less money on R&D than Rwanda. "Now, if we do not as a nation, if we do not at the level of leadership understand that developments are human beings, everything we do is going to fall by the wayside." According to him: “The greatest accelerator is political. Having the political reach that understands we need a developmental stage and not populist state. "We have seen populist policies; we want to have cheap fuel, we want to have cheap electricity, we want to have strong naira, that's populism. "At the end of the day, what price are we paying by taking money out of education and subsidising petroleum products? What price are we paying for discouraging electricity from coming in...The

NNPC: $3.097BN INVESTMENT OPPORTUNITIES EXIST IN CONDENSATE REFINERIES

would need a refining capacity of about 1.52 million barrels per stream day (MBPSD) to meet its petrol requirement in the next four years. He said, "As Nigeria’s demand for petroleum products is expected to grow from 15.1 million MT in 2020 to 17.3 million MT by 2025, the country needs a refining capacity of about 1.52 million barrels per stream day (MBPSD), to meet its PMS requirement in the next four years. "The NNPC refineries’ 445,000 BPSD and Dangote Refinery’s 650,000 BPSD running at 60 per cent and nameplate capacity, respectively, would supply 76 per cent of that requirement, leaving a shortfall of about 17 million litres of PMS daily. "NNPC is adding 215,000 BPSD of refining capacity through private sector driven co-location at the existing facilities in PHRC and WRPC, respectively. Modular refineries are also adding capacities, such as the 5,000 BPSD Waltersmith refinery, which will be upgraded to 50,000 BPSD. "Additional 250,000 BSPD is expected to come from the Condensate Refineries through the private sector partnership. The co-location and condensate refineries will close the PMS supply-demand gap and create positive returns to the investors. "About $3.097 billion investment opportunities exist in condensate refineries while $1.6 - $2.7 billion is required by NNPC to improve

increase the number of people participating in the banking sector, make for a more efficient financial sector and help us tackle illicit flow of funds. “To further strengthen our anti-corruption drive, increase accountability and transparency, we have centralised government funds through a Treasury Single Account, and ensuring that all Nigerians with a bank account use a unique Bank Verification Number (BVN). “These initiatives, coupled with our nationwide National Identification Number (NIN) exercise, reinforce our efforts to tackle corruption and fraud. We believe that this should give investors a lot of comfort.” He also told the world leaders about the devastating effect of climate change on livelihoods of people around the Lake Chad. He added, “As we strive to build resilience towards a sustainable economy in our various countries, let us not forget the negative impact of climate change on our efforts to achieve this goal. Nigeria and many countries in Africa are already facing the challenges posed by

to assure delivery of gas to the demand nodes. He stated, "The OB3 project, which brings gas from East to West, is nearing completion. The 614km Ajaokuta, Kaduna, Kano (AKK) project, which was launched by Mr. President in June 2020, is progressing very well. These could add up to $40 billion to annual GDP and create additional six million jobs. "The corporation has progressed with the Refineries Rehabilitation Programme to further boost its participation in the Oil and Gas value chain by awarding the $1.5 billion Port Harcourt rehabilitation contract with the commitment to deliver on Warri and Kaduna Refineries. "The rehabilitation of critical downstream infrastructure comprising of major pipelines, depots and terminals through the Build, Operate and Transfer (BOT) financing model is on course. “The federal government has declared 2021 – 2030 as decade of gas development in Nigeria." Kyari explained that the transition in Nigeria’s oil and gas sector was being driven by the global decarbonisation efforts to switch to renewables in response to environmental concerns. As investments in hydrocarbon continued to wane due to energy transition and geopolitics, Kyari said the world economy faced shortages, high energy prices, rising inflation and sluggish growth.

biggest accelerator I think we need is a mind change. "We can never have the SDGs if we don't do that. The reality is that at the level of the state, we have to decide what our priority and certainly there would be costs but it’s about choice.” He also said that the country was lagging behind in terms of implementing the SDG component on gender equality. "Look at the social issues, we are talking of gender equality, and I asked a question, look at the 36 ministers in Nigeria, how many women? We have 109 senators, how many are women? We have 360 members of House of Representatives, how many are women? "When we talk of SDGs, we talk about gender equality, what are we doing to promote gender equality? We have to walk the talk," he said. He insisted that fuel subsidy which is shrouded in corruption should be scrapped. In his contribution, Fayemi, said unless the current security challenges were urgently addressed, children in most parts of the country

may be denied access to basic education. The governor said: "For me, the fierce urgency of now is how to deal with safe school for our kids. We are talking about kids dropping out of school and it's a problem already and now they are being kidnapped and abducted all over the place. "If we do not fix that we won't even have children going to school in many parts of the country." He said issue of gender equality was currently being addressed by government though not on a scale that is desired.” He pointed out that there had been a decision by the state governors to provide free basic education for the girl child up to secondary level. Fayemi stressed the need to look at the quality of education, proximity, and infrastructure and a programme for assessing results adding that funding remainee critical to achieving the desired outcomes. He also submitted that there was need to inject more funds into education by freeing up funds from fuel subsidies.

AGAIN, CJN LAMENTS RECKLESS COURT ORDERS complex, Abuja. The CJN took a swipe at the judges and lawyers who went about forum shopping, cautioning that their actions could bring down not only the judiciary, but also the entire nation. He stated, "An occasion like this may be auspicious for selfassessment. It is by co-incidence that this event comes at a time the Nigerian Bar Association is holding its 61st Annual General Conference tagged: ‘Taking The Lead’. "The legal profession should, indeed, take the lead in all human affairs. However, the lead is at a price. We cannot take the lead when our courts issue ex-parte orders recklessly. "We cannot take the lead when many litigants with support of their counsel engage in forum shopping. We cannot take the lead when counsels file a case before a court that they know lacks jurisdiction and the judge proceeds to hear the case. We cannot take the lead when counsel files frivolous cases in our courts just for nuisance value or to buy

time." To stem the tide, the CJN stated that the judiciary must not only do self-assessment, but also needed self-cleansing, adding that all hands must be on deck from both the Bar and the Bench to rid the legal profession of bad eggs. He said, "The legal profession is the building under which we are sheltered. If we fold our hands and watch others destroy it or we participate in the destruction, it will collapse on us. We will then have no roof over our heads. May God forbid!” While congratulating Justice Baba-Yusuf on his appointment, the CJN prayed to God to guide, protect and assist him in the discharge of his duty as head of court. He told Baba-Yusuf that as head of court, his burden had become heavier. "You should, therefore, take charge and ensure that you are just and fair to your brother judges, the management, staff, and, most importantly, to the litigants," the CJN counselled the new FCT Chief Judge.

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NEWS

INAUGURATION OF ACCESS ROAD... L-R: Chairman, House of Representatives Committee on Aviation, Hon. Nnolim Nnaji; Enugu State Governor, Ifeanyi Ugwuanyi; Managing Director, Federal Airports Authority of Nigeria (FAAN), Capt. Hamisu Rabiu Yadudu; Chairman, South East Governors Forum Rehabilitation and Palliative Works, Akanu Ibiam International Airport, Enugu, Engr. Chris Okoye and the Air Oﬃcer Commanding Ground Training Command, Enugu, Air Vice Marshal Frank Goodnews Oparah, during the inauguration of the access road to the Very High Frequency Omni-Directional Radio Range/Distance Measuring Equipment (VOR/DME) of the Nigerian Airspace Management Agency (NAMA), constructed by Enugu State Government... yesterday.

Saraki: Nigeria’s Next President Must Show Capacity, Maturity Says country never as disunited since civil war Confident PDP convention will showcase opposition’s unity Party knows fate Thursday over Secondus’ appeal Chuks Okocha, Onyebuchi Ezigbo in Abuja and Dike Onwuamaeze in Lagos Former Senate President and chieftain of the Peoples Democratic Party (PDP), Dr. Abubakar Bukola Saraki, has said anyone seeking to rule the country in 2023 would need to show Nigerians that he or she possessed the capacity to turn the country around for the better within the shortest possible time. Saraki, who also identified maturity of the leadership as crucial, said as a party, the PDP appreciated that the country was not where it should be and was determined to give Nigerians a better option at the next election in 2023. The former Kwara State governor, posited that the level of inter-ethnic distrust in the country had degenerated so badly that the only period in the country’s history it could be compared with was the civil war time. He also said the October 30 and 31 national convention of the PDP would provide an opportunity for the party to showcase it's unity. But the opposition party would know its fate on Thursday in the appeal filed by its suspended national chairman, Uche Secondus as the Court of Appeal, Port Harcourt, adjourned for hearing and possible ruling. Speaking on ‘The Morning Show’ of the Arise News Channel, Saraki said experience has shown that capacity and ability were a big issue in the leadership of the country. "This is not about propaganda and I think we need to move away from propaganda to substance. What we are saying is that we are not the ones creating the figures. I would be the first to admit if things were going on the right directions and it is not for the sake of power. “The question is that, we need to find solutions to a lot of these problems and today, the party which is there now has not met those promises. “When I listen to your show, people who come say Nigeria is not where they want it to be today, which is a fact and as such, what we should be talking of is what is the alternative and if you are happy and you believe that the path for Nigeria is to continue with this party and their programmes, that is your choice and it is also the choice of others to say, ‘no, we must have a country that is

secured," he said. According to him, the situation in the country in 2015 was that only one part of the country was unsecured, but now the entire parts of the country have challenges of insecurity. "That is not what people are ready to accept. A country, where there are issues of disunity, that is not what anybody wants to accept. A country, where most of her youths are unemployed and those that can be employed are moving out of the country. These weren't the case in 2015, and a lot of people are saying, we need an alternative and they are asking who is going to provide the alternative? "Our responsibility is to make sure we don’t get it wrong in the next election. Don't get me wrong, I am not saying PDP is perfect, but I am saying election is about choice and we are in a better position to provide a better country for all. “Talk about issues of where the country is in terms of investment, the world sees Nigeria. In the time of our party, there were a lot of opportunities for our esteemed youths, which doesn't exist now, that is what I am talking about," he said. On the internal crisis trailing the fourth coming PDP national convention, Saraki said that the party was in good stead for the electoral battles ahead, having done enormous work in reconciling the feuding parties in the party. "We are going to a convention. I think out of probably 24 positions, we have reached consensus in about 21, with just about three or four left, which shows a party that understands the importance of the time in the country today and it is not about us the politicians, but about creating a platform that gives an opportunity to provide leadership for this country at this crucial time. "So, what I am saying is that as a party, we appreciate where the country is; we are determined to give Nigerians a better option. We believe we have the capacity to do so, because what we have all learnt is that sadly, capacity and ability are big issues in leadership and we must this time around talk about how we can ensure that we have the right kind of people to lead the country at all levels. "People, who don't want power for the sake of power, but really want to make a difference and are

courageous enough to see things that are going wrong and say this is going wrong and that we are not going to be part of that. “When you go to election, you make promises. So, you must be held accountable for it. They are not a wish list, because that will be a deception. It's not just me, there are a lot of people saying the country is not in a good place today and we must try and wrestle it and put it on a right path.” Saraki further spoke on the impact of the zoning plan being adopted by the PDP, saying the arrangement did not in any way affect presidential aspiration of members. His words: "Now, talking about the issue of zoning, I think that has been made very clear by the party at all our meetings. Yes, we have zoned the positions of party offices, but it was clear in doing that, that it does preclude anybody that has any presidential ambition. “Most of our leaders have come on your show and reemphasised that. We have said that at NEC; we have said that at all the possible meetings and caucuses we have had that, yes, we have taken the chairmanship to the north central, but it hasn't excluded anybody. But what we are looking for in the party is that if anybody wants to offer himself to run for president, let him offer himself. I think the time we have now, we must look at and try to get our best, because the job ahead is a job that focuses

on quality leadership.” On whether he would defect to another party if he didn’t get the PDP presidential ticket, Saraki said it was unfair to think of such about him. He said in 2019, he contested the presidential primary election under the PDP and that, even though he didn’t win, he offered to support Alhaji Atiku Abubakar. “I worked hard and someone said I did that at the expense of having lost my seat. So, I am a team player, my personal ambition is not what the issue is for me. What is important is to get this country right. I have my children and grandchildren, we must leave for them a better country. “We want a country where there are jobs for talented youths. We have a lot of youths with great potential and today the world sees Africa as the next destination for investments. We have an opportunity to turn things around and I honestly believe that with the right type of leadership, it won't take so long to turn this country round. “But to do that which I used to say when campaigning, you can't give what you don't have and I think that should be our focus. We must ensure we get it right in 2023," he said. Saraki said the opposition party was not shocked by the movement of some of the PDPgovernors, but that Nigerians would “begin to see some defections from the ruling party soon,” adding that, “leaders

in the ruling parties don’t defect early, they defect late in the game. “I don’t think that we [PDP] are haemorrhaging. If you remember, I said a couple of times that there were certain governors that we knew were going to leave, and they’ve left. So, we are not surprised. We’ve got some bigwigs that are coming to the party. “This week, a former governor will join the party. We’ve had a couple, who have joined. Look, we all know that leaders in the ruling parties don’t defect early. They defect late in the game. So, keep watching. Nigerians will not be surprised when you begin to see some defections from the ruling party,” he explained. Saraki, however, blamed the APC for using political propaganda to hoodwink Nigerians in the 2015 general election, explaining that it was when he observed that APC was a party of propaganda that he moved back to the PDP. Meanwhile, at the resumed hearing yesterday of Secondus’ appeal, PDP lawyers asked for time to respond to the issues, but the Court of Appeal judges refused to grant their request, stating that the suit was time-bound in view of the national convention holding on Saturday. Secondus, through his Counsel, Tayo Oyetibo, had asked the court to suspend the October 30th and 31st national convention of the PDP. He also asked the court to allow Secondus preside over the

convention. When the matter was mentioned in court, six other members of the PDP drew the attention of the court to their application for joinder, which was not opposed by counsel to Secondus. Their request was subsequently granted by the three-man panel of the appeal court. The defence counsel, including those, who joined in the suit, however, opposed to the moving of the motion for Interim injunction by Secondus’ counsel seeking to stop the PDP convention and asked for time to respond to the process. The panel led by Justice Haruna Simon Tsammani, after listening to the argument from the parties, ordered counsel to the plaintiff to “serve the process to the defendants Counsel within 24-hours while respondents’ counsel should respond within 24 hours. He, thereafter, adjourned the matter to 28th of October, for hearing and possible ruling on the motion. Oyetibo, a Senior Advocate of Nigeria, while speaking to journalist, explained that, “We were in court to get an order, but saw people, who said they want to join the matter. “We had to trash that out and the court allowed them. So, we will come back on Thursday for the main reason why we came to court. We hope that the court will take a decision about the National convention of the PDP on that day.”

Over Three Million Persons Face Food Insecurity in North-east, Says EU Ambassador Adedayo Akinwale in Abuja The Head of Delegation for the European Union (EU) and ECOWAS, Ms. Samuela Isopi, has said more than three million people have food insecurity in the north-eastern part of Nigeria. She also said an equal number of children are suffering from acute malnutrition in the north-east as a result of Boko Haram insurgency. Isopi stated this on Monday evening, at the premiere of “HOPE,” a documentary film, sponsored by the EU in collaboration with Factstory, a subsidiary agency of Agence France-Presse (AFP). She stressed that ‘HOPE’ was

about the challenges that the residents of the north-east faced in their daily lives of which their sources of income were destroyed by the insurgency. Isopi noted that a decade after the start of the insurgency in the north-east, the region was still suffering from the loss of lives and property, food insecurity and a very poor standard of living. She stated: “More than two million remain displaced from their homes, while hundreds of thousands are living in overcrowded displacement sites, without proper access to sanitation and clean water. “More than three million people have food insecurity and an equal

high number of children are suffering from acute malnutrition. The number of out of school children has also increased exponentially.” Isopi noted that the EU had committed about €130 million over the past four years to assist the Nigerian in rebuilding, rehabilitation and peace efforts. She added, "Since 2014, the European Union has also provided more than €345 million in humanitarian assistance, including the 56 million funding allocated in 2021." Isopi said the film aims at increasing awareness about the role of the European Union and about its contribution to humanitarian recovery assistance to conflict

affected populations, but also about its partnership with the government and the people of Nigeria. On her part, the Minister of Humanitarian Affairs, Ms. Sadiya Farouq, said one of the most critical needs of the north-east was food security. Farouq, who was represented by the Executive Director of Disaster Management, Dr. Suleiman Abubakar, said she hoped that the documentary would achieve its desired objective of bringing the plight of the north-east to the general public so that the condition of the north-east would be alleviated.

WEDNESDAY, ͺͿ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

LAUNCH OF HUMAN CAPITAL AFRICA... L-R: Former Minister of Information, Mr. Frank Nweke jnr; former Minister of Education, Dr. Oby Ezekwesili; wife of Olu of Warri, Her Royal Highness, Olori Atuwase lll and Chairman, Pacesetters Academy, Barr. Kenneth Imansuagbon, during the launch of Human Capital Africa in Abuja... yesterday.

Angry Mob Kills Family of Three in Kaduna for Allegedly Collaborating with Bandits John Shiklam in Kaduna A family of three have been killed by an angry mob in Zangon Aya, Igabi Local Government Area of Kaduna State, following suspicion that they were informants to bandits terrorising the area. The Commissioner of Internal Security and Home Affairs, Mr. Samuel Aruwan confirmed the incident in a statement yesterday in Kaduna. Aruwan said, Abdullahi Gobirawa, his wife Binta and son Hassan, were killed when a mob stormed their home on Monday afternoon, adding the after killing them, the mob looted and burnt their home. He said the incident was reported to the state government by security

agencies. "Security agencies have reported the killing of a man, his wife and son, by a lynch mob in Zangon Aya community, Igabi Local Government Area. "According to the report, Abdullahi Mohammed Gobirawa, his wife Binta Abdullahi and his son Hassan Abdullahi, were killed when a mob stormed their home on Monday afternoon. "The mob action was in response to the trio's suspected collaboration with bandits, especially in relation to recent kidnappings in the area. "After killing the trio, the mob looted and burnt their home", the commissioner said. He said Governor Nasir El-Rufai had expressed sadness and deep worry about the violent actions of

the citizens and strongly condemned the extra-judicial killings. He said the governor stressed that lawful means alone should be adopted in confronting suspicions

of criminality, saying the destructive practice of self-help would only result in greater harm. Aruwan said the governor had directed security agencies to

The First Lady, Mrs. Aisha Buhari has cautioned celebrities, political leaders and key opinion leaders to be wary of the dangers of substance abuse and abstain from promoting activities and contents that suggest the abuse of drugs as an acceptable practice. She issued the warning yesterday in her remarks as the Special Guest of Honour at the third annual conference of the National Society of Substance Use Prevention and Treatment Professionals (ISSUP) Nigerian Chapter, held in Abuja. Speaking on the theme: ‘Substance Abuse: Re-awakening Nigerians to Its Reality,’ Buhari, who was represented by a former First Lady of Nasarawa State, Mrs. Mairo Al-Makura, urged stakeholders to create the needed environment that enabled productivity and job opportunities in order to effectively engage young ones and set them on a part towards prosperity. The first lady stated that her office had been leading the campaign against substance abuse, including other forms of abuse that seek to destroy the very fabrics of society. She asked well-meaning Nigerians to support the campaign against drug abuse and also join to create awareness of the health and socio-economic consequences of substance abuse. “We must continue to recognise

that drug abuse is a public health problem not necessarily a criminal justice problem. Decriminalising drug use while implementing strict laws on drug trafficking is the way to go. The increasing cases of drug abuse has always been a source of great concern to me. Drug abuse hurts relationships, families, and communities,” Buhari said. She said Nigeria cannot afford to keep losing its teeming youth to such a menace and expect the younger generation to provide quality leadership and excel in innovative enterprises that will advance our society for the better.

any sort and appealed for consistent recourse to the constituted agencies.” The Commissioner said investigations into the incident had commenced.

Senate Queries FG's Plan to Borrow $200m to Purchase Mosquito Nets Deji Elumoye in Abuja The Senate yesterday queried the plan by the federal government to secure a $200 million facility to procure mosquito nets to prevent malaria in 13 out of the 36 states of the federation. Members of its Committee on Foreign and Local Loans led by the Chairman, Senator Clifford Ordia, were piqued when the Permanent Secretary, Federal

Ministry of Health, Mahmuda Mamman, informed them that the federal government was planning to borrow $200 million to purchase mosquito nets and other ancillary medical therapies to prevent malaria. Mamman had in his presentation during the 2022 budget defence session submitted that due to high rate of under-five mortality in Nigeria largely caused by malaria and inaccessibility to

Aisha Buhari: Celebrities Should Stop Promoting Drugs as Acceptable Practice Olawale Ajimotokan in Abuja

conduct thorough investigations into the incident and urged citizens to maintain order. He said the governor also, "cautioned against stereotyping of

She called on all parents across the country to support and promote the implementation of policies and programme that focus on strengthening strong family values that represent the moral foundation needed to nurture children through proper parental guidance, attending to their needs and guiding them properly to adulthood. She also asked lawmakers to recognise that decriminalising drug use while enacting stricter sanctions on drug dealers will go a long way to increase access to treatment for many drug users in need of medical attention.

The first lady proposed the creation of an environment that discourages people from seeing drug abuse as an alternative or as a solution, while asking stakeholders to continue to call for the provision of quality and affordable free education at an early age to at least secondary school level for every child. In his welcome address, the National President ISSUP, Dr Martin Agwogie reiterated the body’s no to cannabis legalization stance in Nigeria in order not to complicate an already bad situation.

malaria treatments by residents in 13 vulnerable states in the country, the $200 million loan became very necessary . According to him, the loan if approved by the National Assembly and accessed, would be used to medically fight malaria in the 13 orphan states which cover 208 local government Councils and 3, 536 primary health care centres. Reacting to the Permanent Secretary's submission, a member of the committee, Senator Ibrahim Oloriegbe and other members, took on the Permanent Secretary and the Executive Secretary of National Primary Health Care Development Agency (NPHCDA), Dr. Faisal Shuaib. The chairman of the committee wondered why N450 million was budgeted for malaria treatment in the proposed 2022 budget and yet, plans were being made to borrow $200 million for same purpose He said: "This is unacceptable. We should be able to put our feet down when dealing with these donor agencies or creditors as regards loans to be taken and what it should be expended on.

"Don't we have local manufacturers of mosquito nets and malaria drugs in Nigeria to patronise with the loan even if approved? "This is a clear case of money and jobs for the boys by creditors luring you for loans and railroading you on what it should be spent on. "Washington or whatever creditor offering the loan , should stop giving us money with one hand and taking it back with another hand through railroaded spending". Other members of the committee including Senators Adelere Oriolowo and Abba Moro also faulted the Ministry for coming up with such frivolous proposal. According to the duo, the N450million already budgeted for fighting malaria in the reported vulnerable areas was enough. They, therefore asked the Permanent Secretary to explain how the idea was arrived at and how it would be implemented. Responding, the Permanent Secretary said subsidiary arrangement had been made with all the states involved through signing of required agreement.

Afenifere Re-emphasises Concerns over Insecurity, Constitution James Sowole in Abeokuta The Pan-Yoruba Socio-political group, Afenifere, yesterday, reiterated its concerns over the twin issues of insecurity and the need to change the current constitution, while at the same time, condemning the federal government's attitude on the matter. The group said Nigeria's problems would remain if not aggravated, for as long as the current constitution was not changed to devolve power with true federalism. Afenifere, however, expressed dismay that some people could

be seeking clemency for terrorists, who were maiming and killing people without any thoughts for the victims. In the communique issued at the end of its meeting held at Ijebu-Igbo, Ogun State and signed by the Publicity Secretary, Jare Ajayi, Afenifere said, "The country should go back to the 1963 Constitution that was abrogated by the military. In the alternative, the meeting of ethnic nationalities and related stakeholders should be conveyed. Such a meeting would provide an opportunity for all of us to redefine the basis of staying together. "We are still very much

convinced that it is in either of the two proposition that solutions to numerous problems afflicting Nigeria lie. Afenifere has been consistent in its call for a replacement of the present constitution and the restructuring of the country. "In other words, we are consistent – and now still insisting – that restructuring that births true federalism must take place before the 2023 elections. For insisting on true federalism, we were dubbed as separatists, but we are not perturbed, for we were usually vindicated at the end of the day whenever we take a principled position." While stating its belief in the

unity of Nigeria but not at the expense of Yoruba interest, Afenifere said the truism, 'charity begins at home' meant so much to it. It also condemned the government for the festering insecurity in the country. "The meeting, therefore, joined the National Assembly and several others, who have been speaking on the matter, that those who have been kidnapping and killing people be declared as terrorists and be treated as such. It is unfortunate that the attitude of the authority on the issue of security in the country has not succeeded in stemming the increasing spate. "On the contrary, bandits

and terrorists kept getting emboldened to perpetrate their nefarious activities. It is ironical that some individuals could be seeking clemency for terrorists, who are maiming and killing people without any thoughts for their victims. "In the hope that those concerned will act fast and effectively, we advise every community to be at alert with a view to ensure that terrorists do not take over," Afenifere said. The meeting, presided over by the acting leader of Afenifere, Chief Ayo Adebanjo, also had in attendance members from the South West states and Kogi State.

WEDNESDAY OCTOBER 27, 2021 ˾ T H I S D AY

NEWS

Police Recover Decomposed Body of Adopted Rivers Monarch Blessing Ibunge in Port Harcourt

Operatives of the Bori Divisional Police Headquarters in Rivers State, have recovered the decomposed body of Chief Robert N. Loolo, traditional ruler of Luwa Community in Khana Local Government Area of the state. The 61 years old monarch was kidnapped from his palace in June 2019. The Divisional Police Officer (DPO)in charge of the Bori division, SP Bako Angbashim led the team to a creek linking Luwa, Bera and Bani communities where the body of late Chief Loolo who was gruesomely killed after two times ransom was paid for his release. Angbashim stated that the discovery of the decomposed body on Monday, followed a thorough investigation and random search in various forests within the area. The DPO howerver, advised kidnappers and those behind criminal activities to vacate Ogoni, adding that his men will stop at nothing in ensuring that the perpetrators are arrested.

“Two years back, the paramount ruler of Luwe community was kidnapped by hoodlums and was taken away elsewhere. All effort to trace where he was taken to fell

abortive and today (Monday) God help us, we are able to trace in a thick creek and saw two sticks where they tied him. That means they tied him but there was no help, food, no water and

he finally died. “He was tied in a thick creek that no human being can reach the place. We have been searching for him or his grave and God help us we saw his decomposing

body, exhumed and brought him home. “The kidnappers should repent because is a wickedness on humanity, a royal father like this was kidnapped and tied to

death,” the DPO said. Meanwhile, children of the late monarch who joined the police to the creek, said they are traumatised over the kidnap and discovery of their father’s corpse.

ECONOMIC GROWTH ON THEIR MINDS…

L-R: Chief Executive Oﬃcer, Nigerian Export Promotion Council, Mr. Olusegun Awolowo; Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, Chairman, Nigerian Economic Summit Group, Mr. Asue Ighodalo, at the NESG summit held in Abuja…yesterday

Herdsman Jailed for Life Lalong, Uzodinma Insist on State Policing, Seek in Ekiti for Attempted Mechanism to Check Abuse Murder, Gun Running James Emejo in Abuja

Victor Ogunje in Ado Ekiti Ekiti State High Court sitting in Ado Ekiti, has sentenced a 32-year old herdsman, Muhammadu Abubakar to life imprisonment for attempted murder and for illegal possession of firearms. In his verdict yesterday, Justice Adekunle Adeleye said : “The defendant is found guilty as charged, he is sentenced to life imprisonment’’. Abubakar was charged on two- count charge of attempt murder and unlawful possession of firearms. According to the charge sheet, on 9th April 2019 at Aba Cotonou, Omu Ekiti in Oye Local Government Area of Ekiti State, the convict did

attempt to murder Chief Samuel Amaa and other residents, while grazing with his cattle on their farms. In his testimony before the court, one of the victims said, the defendant was challenged while grazing on their cassava farm with his cows and became angry for being questioned. Abubakar was said to have pulled out his gun and fired at them. Abubakar was said to have been overpowered by residents, arrested and handed over to the police for prosecution. To prove his case, the prosecutor , Taiwo Ajibulu, called four witnesses and tendered a gun, live cartridges and statements among others to prosecute his case.

Governor of Plateau State, Simon Lalong and his Imo State counterpart, Hope Uzodinma, yesterday reinforced their belief in the establishment of state policing architecture to subdue the lingering security challenges at the sub-national governments. They also called for appropriate checks to ensure that state governors do not take undue advantage of state police

against their political rivalry. Both spoke during an interactive panel session on “Removing the Binding Constraints to Security: The Submational Perspective” at the 27th Nigerian Economic Summit (NES#27), themed:”Securing the Future: The Fierce Urgency of Now”. Both had also narrated how they were able to manage the volatile security situations in their respective states.

Lalong said Plateau was inaccessible at the period he assumed office, adding that he was able to restore normalcy within three months while peace reigned for about six months before the security degenerated lately. He said past administrations had capitalised on ethnic segregation to pursue selfish objectives. Lalong said the 53 ethic nationalities in the state were

brought together through peace building initiative adding that to achieve unity, “you must address the feelings of the people”. He blamed the collapse of early warning mechanisms which he said his administration is currently working to revive. Among other things, he said the governors had made a recommendation to President Muhammadu Buhari to allow for a state police structure.

APC Condemns Obaseki’s Planned Demolition of Central Hospital Edo State chapter of the All Progressives Congress (APC), has condemned the planned demolition of the over 100 year- old Central Hospital in Benin City which Governor Godwin Obaseku allegedly penciled down for an ultramodern motor park. A statement by the Assistant Publicity Secretary of the APC, Ofure Osehobo lampooned the Governor Obaseki administration for not improving

on the developmental trajectory of the hospital started by his predecessor, Comrade Adams Oshiomhole, adding that the plan to turn the area meant for the second phase of the hospital to a motor-park was uncalled for. The statement also wanted the state government to explain what happened to the central park it celebrated that was expected to be built a Obakhavbaye area of the city

which he started during his first term. But the Commissioner for Information and Orinetation, Andrew Emwanta, said the hospital was not being demolished but being relocated, adding that there is already the Edo Specialist Hospital in the place. The APC statement said “The reason advanced by the government for the proposed demolition of the hospital,

which is to make way for an ultra-modern Motor Park to decongest the City centre and ultimately generate additional revenue for a state, it has mismanaged its resources, is unacceptable. “This is because no right thinking government will prefer to replace a viable health facility, which it should equip and staff, to better cater for the well-being of the people, with a Motor Park.

Segun Awofadeji in Bauchi

neighbour’s seven-year-old daughter. According to a press release signed by the Zonal Police Public Relations Officer (ZPPRO), Thomas Goni yesterday in Bauchi, the incident happened at Kawo

Rauta Village in Toro Local Government Area of the State. Goni, a Superintendent of Police (SP), stated that the victim’s father, one Alhaji Habu, reported the case to the police, saying that, “the suspect was caught red handed defiling my

seven-year-old daughter.” Goni added that the Assistant Inspector General of Police (AIG) in charge of Zone 12 Bauchi, Audu . Madaki, has directed that the suspect be charged to court after completion of investigations.

Court Refuses to Stop EFCC from Investigating Alleged N141m Share Fraud Bauchi Police Arrest 70-year-old Man for Defiling Minor Market and Insurance Fraud Wale Igbintade Justice Tijjani Ringim of the Federal High Court, sitting in Lagos has dismissed the suit filed by the Industrial and General Insurance Plc (IGI) seeking to stop the Economic and Financial Crimes Commission (EFCC) from investigating alleged N141 million private share allotment fraud involving the firm. The judge held that the antigraft agency has the powers under the law to investigate public fraud and financial crimes in the security exchange sector. The plaintiff, IGI had filed the suit marked FHC/L/ CS/889/2021 against the EFCC; Ahmed Ghali, the Lagos Zonal Head of the EFCC; Ronke Idayat Suleiman, Team B lead, Capital

(CMIF) unit; Osom Properties Limited; Royal Descent Limited; Frososom Nigeria Limited; Ilekhuoba Osaretin and Fando Construction Limited, praying the court to declare that 1st to 3rd defendants lack the powers to question “purely civil commercial transaction” between it and the 4th to 8th defendants. The plaintiff also asked the court to declare that the continued invitation of the plaintiff’s officials and employees by the EFCC in connection with the investigation of the private placement offer of its shares to the 4th to 8th defendants in 2007, is beyond the powers granted the organization under the EFCC Act and therefore ultra vires.

Police detectives attached to Zone 12 Command headquarters of the Nigeria Police in Bauchi have arrested a 70-year-old man, one Alhaji Umaru Daura for defiling his

FCE Yola Shutdown over Students’ Unrest Daji Sani in Yola The Management of Federal College of Education (FCE) Yola in Adamawa State has shut down the institution over students unrest The Ragisrar of Institution, Mallam Ahmad Gidado disclosed the closure yesterday while briefing journalists on the premises of the institution He said the closure of the

instruction was as a result of students unrest over scarcity of water Gidado explained that the water scarcity was caused by the breakdown of the main industrial borehole supplying the water needs of the entire school. According to him, the management swung into action on hearing about the water challenge yesterday (Monday)

immediately asked the works and services department to fix the problem, but only to wake up to see students rioting yesterday morning. Gidado further revealed that the Provost, to augment the water scarcity, had directed a water tanker to supply water to the students until the borehole is fixed yet the students still continue with the protest.

“The school is closed down till further notice to curtail further breakdown of law and order by the students” “The college has other boreholes but dealing with about five thousand students could not meet the water needs of the school that is why the water tanker was used to augment the water need caused by the breaking down of industrial borehole.

WEDNESDAY OCTOBER 27, 2021 ˾ T H I S D AY

NEWS XTRA

INEC Discovers 62,698 Cases of Multiple Registration of Voters in Anambra LP candidate still with abductors 11 days to election

Chuks Okocha in Abuja and David-Chyddy Eleke in Awka Ahead of the November 6 governorship election in Anambra State, the Independent National Electoral Commission (INEC), Tuesday, said it had discovered 62,698 multiple registration of voters. A statement by INEC’s National Commissioner in charge of Information and Publicity andChairman, Voter Education, Festus Okoye, said, “After a thorough cleaning up of the data, it was discovered that the number of multiple registrants was 62,698. “Consequently, the number of valid registrants dropped to 76,104. During the same period, there were 5,674 requests for transfers, update of voter information and replacement of lost or damaged cards, giving a cumulative total of 81,778 PVCs. These cards have been printed and will be delivered to our office in Anambra State on Thursday 28th October 2021,” Okoye said. Meanwhile, 11 days to the Anambra election, candidate of the Labour Party (LP), Mr Obiora Agbasimalo, who was

kidnapped some days ago has remained in the den of his Abductors. But Okoye, while giving an update on the preparation for

the election, said the Resident Electoral Commissioner for Anambra State and his staff would work out the most efficient means of ensuring that

the voters concerned collected their PVCs in earnest. Fortunately, he said the Commission has the telephone numbers and e-mail addresses

of all the new registrants, adding that they would be contacted to make the collection seamless. On the collection of Permanent Voters Card (PVCs) by new

registrants, Okoye said, “In our previous update, the commission informed the public that a total of 138,802 Nigerians completed the registration in Anambra State.”

CELEBRATING WORTHY RECOGNITION……

L-R: Partner, Babalakin & Co, Dr. Bayo Adaralegbe, his wife, Eleanor Adaralegbe; Vice President, Seplat Energy Plc, Mrs. Grace Enosode, and Managing Director, Pillar Oil Limited, Mr. Spencer Onosode at a dinner organised by the Adaralegbes for Howard Professor, Mr. Kola Abimbola, on his installation as the Ajagunna Agbaiye by the Ooni of Ife in Lagos...recently.

Aviation Stakeholders Anyim Explains Encounter with EFCC Hail Ugwuanyi’s Commitment to Air Safety Goddy Egene

Stakeholders in the Aviation industry have commended Governor Ifeanyi Ugwuanyi of Enugu State for his commitment to the development of the sector in the state and the Southeast geo-political zone for the safety of air travelers. The stakeholders gave the commendation during the inauguration of the access road to the Very High Frequency Omni-Directional Radio Range/Distance Measuring Equipment (VOR/DME) of the Nigerian Airspace Management Agency (NAMA) at the Akanu Ibiam International Airport Enugu constructed by Ugwuanyi’s administration. In furtherance of his administration’s efforts to

encourage and ensure that the federal government comprehensively rehabilitated the Akanu Ibiam International Airport, Enugu, last year, to function at optimum capacity and efficiency, for the safety of air travelers, among other time-honoured interventions, Ugwuanyi promised to reconstruct the VOR/DME access road for NAMA to aid its all-important operations at the site. The governor fulfilled the promised and delivered to standard the access road to NAMA’s VOR/DME Navigational Aid Site and meteorological facilities, for safe landing of aircrafts at the Akanu Ibiam International Airport, Enugu, located behind NNPC depot, Emene.

The former Senate President, Senator Anyim Pius Anyim yesterday explained his two-day encounter with the Economic and Financial Crimes Commission (EFCC). According to the him, contrary to insinuations, he was never invited by the EFCC but offered, on his own volition, to go to the anti-graft agency to clarify issues around which his name was mentioned.

The EFCC had detained Anyim over an alleged N780 million aviation ministry fund. His arrest was said to be in connection with the ongoing probe of a former Minister of Aviation, Senator Stella Oduah. Anyim, who was only released yesterday at about 1 pm after spending two days with the EFCC said he was not worried by the encounter. In a statement by his Media Adviser, Mr. Sam Nwaobasi, Anyim, however, frowned at

some reports in some social media platforms that deliberately distorted the facts just to call his integrity to question. The former senator said he remained steadfast in his commitment to join hands with men and women of goodwill to unite, heal and advance the cause of Nigeria and will continue to offer himself and services to the pursuit of same. The statement reads: “We have been inundated with inquiries from friends, associates, PDP

faithful and the general public with regard to media reports since Sunday the 24th of October 2021 on Senator Anyim’s detention by the Economic and Financial Crimes Commission, EFCC, which according to the reports was “part of an investigation in a case of alleged corruption and diversion of public funds.” It has therefore become necessary to put the record straight on what went on between Sunday the 24th to Tuesday the 26th of October as follows:

NSCDC Arrests Suspected Internet Fraudster in Ilorin The Nigeria Security and Civil Defence Corps (NSCDC), Kwara Command, has arrested a suspected internet fraudster, Mr. Charles Gabriel, for withdrawing money from people’s bank accounts after stealing their phones. This is contained in a statement signed by the Command Spokesman, Mr Babawale Afolabi, yesterday.

Afolabi said that the 37-year-old suspect, also known as Pastor, was picked up by a team of NSCDC detective at his hideout, located in Offa road, Ilorin. “On October 26, our Intelligence and Investigations Department received a missing phone complaint from one Buraimoh Sunmonu Adebayo, 57, of No 207,

Lagos Road, Sawmill Area, Ilorin “The complainant said that he lost his phone when he boarded a tricycle from Ilorin Grammar School to Taiwo road. “Adebayo realised that his phone was missing when he got to his destination and after few hours of losing his phone, a sum of N500,000 was

withdrawn from his account. “The money was from both his personal account and company account, where he is one of the signatories,” Afolabi said. The spokesman said that the detective and tactical team swung into action and was able to track down the suspect to their hideout on Offa road, Ilorin.

Adibe Emenyonu in Benin City

Okao in Benin kingdom after he was relieved of his position by His Royal Majesty in 2018. Roland was also, said to have been Involved in land grabbing, extortion, intimidation and fraud since he was relieved of his post. Reading a prepared statement in Benin City on Tuesday to announce the formal banning of the Omuada on behalf of the

Benin Monarch, Mr. Frank Irabor, Secretary, Benin Traditional Council (BTC) disclosed that the ban is “extended to his participation at all Oba Palace traditional establishments and functions, including spiritual groups, activities, festivals, shrines and, oguedion in Benin Kingdom.” According to Irabor, since his suspension as the Omuada,

Ogbebor has been acting “as a wolf in sheep clothing and a trickster” Irabor, who was flanked by prominent Benin chiefs in solidarity at the briefing, noted that the formal Omuada was also involved in what he described as “abominable and sacrilegious” act of parading himself as the second in command to His Royal Majesty.

Don’t Resort to Civil Unrest, Oba of Benin Bans Head of Servants for Impersonation, Fraud Osun Urges Pensioners The Osun State Government has appealed to its protesting pensioners to be a little more patient with it and not resort to civil unrest, because it was doing everything to review their demands, which was tabled at a meeting some 10 days ago. Speaking with journalists in Osogbo, yesterday, Commissioner for Information and Civic Orientation, Mrs. Funke Egbemode, noted that rather than take to the streets, the senior citizens should show understanding and be patient with government. She claimed since the administration was inaugurated in 2018, it has never defaulted in the payment of pensions and gratuities, including those of contributory pensioners, just as it was gradually clearing

the backlog it inherited. Government representatives and leaders of the pensioners had met on Thursday, October 14, where the pensioners, among other things, requested the government to do an upward review of the monthly releases to cater to pensioners in the state. Both parties had agreed at that meeting to reconvene on November 29, to present government position and chart a way forward so as to continue to guarantee industrial peace in the state, Expressing surprise at the protest, which came 34 days ahead of the adjourned meeting date, the government in a statement further urged the pensioners not to lend themselves to cheap blackmailers, who thrived on chaotic situations.

The Oba of Benin, Ewuare II, has banned one Roland Ogbebor, a former Omuada (head of servants) in his palace for alleged posing as the second in command to the king and also engaging in other “sacrilegious acts.” The ban followed an alleged installation of Enogie, Ohen and

Army Chief Advocates Non-kinetic Approach to Tackling Insecurity Onyebuchi Ezigbo in Abuja The Chief of Army Staff, Major General Farouk Yahaya, has said the country might need to adopt the carrot and stick approach in the efforts to contain insurgency and other cases ofcriminality like banditry and kidnapping in the country.

The new strategy, which he described as “Non-Kinetic Approach” involves efforts at deradicalisation of convicted criminals by providing them with sustainable means of livelihood. He said there were currently various forms of insecurity in different parts of the country,such as insurgency in the North East,

banditry and kidnapping in the North West, IPOB agitations in South East and crude oil bunkering in South-south. Yahaya, who disclosed this at the formal unveiling of the Centre for Security and Legal Studies by the University of Abuja on Tuesday, said in order to achieve the mandate of his office, he had come

up with a vision to build a professional Nigerian army, ready to accomplish assigned mission, adding that part of the mandate was engaging in joint military operations in parts of the country. He also said the army had embarked on military exercises across the country to prepare the soldiers for real time military operations.

WEDNESDAY, ͺͿ˜ ͺ͸ͺ͹ ˾ T H I S D AY

WEDNESDAYSPORTS

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

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Kida Dares Sports Ministry, Insists on NBBF’s Elective Congress on October 30

Olawale Ajimotokanin Abuja The immediate past President of the Nigerian Basketball Federation (NBBF), Ahmadu Musa Kida, has insisted that the Nigerian Basketball Federation (NBBF) Elective Congress scheduled for Benin City on October 30will go ahead despite the indefinite suspension pronounced on the exercise by the Federal Ministry of Youth and Sports Development on Monday. In a statement made available yesterday, Kida said the purported postponement was without any legal basis and was an usurpation of the powers of the NBBF Congress as enshrined in the NBBF Statutes. He excoriated the ministry, saying its action was repugnant to natural justice, equity and good conscience and amounted to an arbitrary use of power, after it had confirmed on several occasions to the supremacy of the NBBF congress to conduct its affairs as dictated by the NBBF constitution. "The attention of the NBBF is drawn to an unsigned Press Release credited to the Permanent Secretary of the Federal Ministry of Youth and Sports on several social media, dated October, 24, 2021, stating that the NBBF Elective Congress slated for Benin City, Edo State, on October, 30, 2021, as approved by the NBBF Extra

Ordinary Congress of October 9, 2021, in Abuja, which was in line with the provisions of the 2019 NBBF approved Statutes, has been postponed indefinitely. "This purported postponement is without any legal basis and indeed an usurpation of the powers of the NBBF Congress as enshrined in the NBBF Statutes," said Kida whose position as the Chairman, NBBF Caretaker Committee was vacated in another press statement from the ministry last night. He averred that the Permanent Secretary, Ismaila Abubakar, who issued the press release, postponing the Elective Congress, was the person that delivered the key note address at the Extra Ordinary Congress, that was attended by the representative of the NOC, Engr Ishaya Tikon, who was delegated to attend by the NOC President, Habu Gummel and ministry's Director FEAD, Dr Sunny Ebhojaiye. He flayed the action by Abubakar and the ministry who had acknowledged that only the NBBF Congress had the powers to act, in line with the NBBF Statutes. Kida said the action left much to be desired and was clearly an overreach to usurp the powers of the NBBF Congress, since the federation has a functional and approved statutes. "We make the above statement affirming that after 2017, from

the FIBA fact finding team's visit to Nigeria in 2018, FIBA, supported by pronouncements by the Nigerian courts, had put to rest who is the recognised President of the NBBF. The postponement of a duly approved Elective Congress under the guise of a non-existent leadership tussle is therefore meant to mislead all concerned in order to justify this ultra vires act. "This contradicts the followings, in every material particular; (a.) The FMY&SD had clearly stated vide their press release dated October, 30, 2021. that the NBBF is amongst the six national sporting federations that have their approved constitutions and these will guide their electoral

processes. (b.) That at the request of the Nigeria Olympic Committee ( NOC), FIBA wrote a letter affirming that it had approved the NBBF Constitution which shall be the document to drive the NBBF 2021 Elections. (c.) After several meetings called by the ministry and the NOC, between the Chairman, Caretaker Committee and the former NBBF President, Tijani Umar, the FMY&S released a Press Statement dated September 30, 2021 to the effect that the NBBF Constitution approved by FIBA is sacrosant and its provisions shall be the binding document for the conduct of the 2021 NBBF Election," Kida said.

He stressed that it was based on the above, and in line with the provisions of the NBBF Constitution, that the federation held an Extra Ordinary Congress in Abuja where it set up an Electoral and Appeals Committeee and approved Benin as venue for the Elective Congress (by 24 Yes votes against 2 No votes), which was also approved to take place on October 30, 2021 in strict compliance to the provisions of the 2019 NBBF statues. Kida said the postponement could not stand as all arrangements had been put in place for the Elective Congress in Benin while FIBA had already taken note of the date of the elective congress and had nominated a

representative to monitor the exercise. "All the delegates to the elective congress have received their letters of Invitation and are ready to attend. All these come at a huge cost to the federation that has a deficit treasury. “We fully know that FIBA is aware and is vastly informed on this matter". Kida insisted that in view of the full arrangements already made for the Elective Congress in Benin, all invited delegates and candidates are informed that the NBBF is still going ahead with the Elective Congress as approved by the Extraordinary Congress unless it is decided otherwise by the same NBBF Congress.

FIFA Bans Cofine FC Coach, Remi Amadi, for Two Years Sports Minister, Sunday Dare (left) and immediate past NBBF President, Ahmadu Musa Kida are at loggerheads ahead of the basketball federation’s controversial elective congress slated for Saturday in Benin City

Enyimba, Rivers Utd Drawn against N’African Oppositions

Gianni Infantino....FIFA President Coach of Cofine FC of Uyo, Akwa Ibom State, Remi Amadi has been slammed with a global ban of two years from all football-related activities by world football –governing body, FIFA. The world body’s Disciplinary Committee conveyed this decision to the Nigeria Football Federation, and it is a consequence of a similar two-year ban imposed on the gaffer by the NFF Disciplinary Committee at its meeting of 16th August 2021. The NFF Integrity Unit forwarded the said decision of the NFF Disciplinary Committee and all the relevant documentations to the FIFA Disciplinary Committee via a

letter dated 25th August 2021, requesting the Committee to extend the sanction to have a worldwide effect, in accordance with Article 66, FIFA Disciplinary Code. The worldwide effect was activated by the FIFA Disciplinary Committee at its meeting of 5th October 2021. Amadi had last August admitted before the NFF committee that he attempted to manipulate the result of an NLO fixture between Cofine FC v. Bussdor FC. The match was played on March 15 at the University of Calabar Stadium as documented in an audio conversation between Amadi and the NFF committee.

Nigeria’s two representatives in the CAF Confederation Cup, Enyimba FC and Rivers United FC have been drawn to face teams from North Africa. This was the highlight of the draw ceremony which held yesterday at the CAF headquarters in the outskirts of Cairo. Enyimba will face Al Ittihad of Libya while Rivers United were drawn to face Al Masry of Egypt. The 16 teams that qualified from the CAF Confederation Cup second preliminary round were drawn to face the losing 16 teams from the Champions League second preliminary round. Head of CAF Competitions, Khaled Nassar, conducted the draw and assisted by Egypt and Zamalek legend Ismail Youssef.

Africa) r "4&$ .JNPTBT $PUF d’Ivoire) v GD Interclube (Angola) r /PVBEIJCPV .BVSJUBOJB W Coton Sport (Cameroon) r 64 (FOEBSNFSJF /JHFS v DC Motema Pembe (DR Congo) r "4 0UPIP $POHP W (PS

Mahia (Kenya) r "13 3XBOEB W 34 #FSLBOF (Morocco) r 5VTLFS ,FOZB W $4 4GBYJFO (Tunisia) r )FBSUT PG 0BL (IBOB W +4 Saoura (Algeria) r 4UBEF .BMJFO .BMJ W "IMZ Tripoli (Libya) OR Biashara Utd (Tanzania)

r "4 .BOJFNB 6OJPO %3 Congo) v Pyramids (Egypt) r -13$ 0JMFST -JCFSJB W Orlando Pirates (South Africa) r 3PZBM -FPQBSET &TXBUJOJ W +4 ,BCZMJF "MHFSJB

*The first leg of the matches are scheduled to be played on November 28 while the second leg is on December 5.

ALL THE QUALIFIED TEAMS r 3JWFST 6OJUFE /JHFSJB W "M Masry (Egypt) r "M *UUJIBE -JCZB W &OZJNCB (Nigeria) r ;BOBDP ;BNCJB W #JOHB (Mali) r 4JNCB 5BO[BOJB W 3FE Arrows (Zambia) r 51 ."[FNCF %3 $POHP v Marumo Gallants (South Rivers United FC...drawn against Egypt’s Al Mastry in the CAF Confederation Cup

WEDNESDAY, ͺͿ˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

AFCON 2021: CAF Increases Squad Lists from 23 to 28 Players Pictures of some of the stadia in Cameroon to host the AFCON 2021 tournament In apparent move to boost teams with extra playing personnel in the event of more than three Covid-19 positive tests, the Confederation of African Football (CAF) has increased the squad list for each country ahead of the 2021 Africa Cup of

Nations from 23 players to 28. With the increase, Super Eagles Head Coach, Gernot Rohr, now have additional five players to fortify his team aiming to go beyond the bronze won at the last AFCON 2019 in Egypt. In a letter sent to all CAF

affiliate federations and signed by its Director of Competitions, Samson Adamu, last Sunday, it clearly stated that decision was taken to allow the participating teams have a larger squad list for the competition in case some players test positive for Covid-19.

The letter read in part: “In the occasion of the upcoming final tournament of the TOTAL ENERGIES Africa Cup of Nations – Cameroon 2021, we would like to provide you with the following decision: 1. Number of additional

Basketball Prospects Appeal to FCT Minister of State on US College Programme Olawale Ajimotokanin Abuja No fewer than 30 basketball players could lose the chance of getting a dream US college scholarship if the Minister of State for FCT, Dr. Ramatu Tijani Aliyu, does not intervene. In April this year, 15 male and 15 female of the players, won a chance to participate in the Phenom Basketball Championship in America. The basketball championship, over the years, has been a veritable ground for US colleges to scout for players whom they offer scholarships to play basketball and school in the US. Head Coach of FCT's basketball team, Emmanuel Odeh, said FCT's youngsters

were in danger of missing out of the Phenom Basketball Championship this year. He said there has been a relationship between the FCT Sports Department and the US Embassy since 2005 enabling a lot of kids to go out to make Nigeria proud internationally. Odeh said that close to 120 successful scholarships had been given to FCT kids by US schools, colleges and high schools since 2005. "Two of the players who recently helped Nigeria win the women Afrobasket championship were discovered through the program. "This year, the children have been in camp for five months now waiting to travel.

S’Africa’s Wicketkeeper Refuses to Take the Knee

Wicketkeeper Quinton de Kock made himself unavailable for South Africa's T20 World Cup match against West Indies after refusing to take the knee. Cricket South Africa (CSA) issued a directive before the match that all players should make the gesture. It said it will "await a further report from team management before deciding on next steps". Captain Temba Bavuma said: "As a team we're obviously surprised and taken aback by the news." He added: "Quinton is an adult.

He's a man in his own shoes. We respect his decision. We respect his convictions. "I know that he'll be standing behind whatever decision that he's taken." South Africa beat West Indies by eight wickets to claim their first win of the tournament. De Kock, who has previously declined to take a knee, saidin June: "My reason? I'll keep it to myself. It's my own, personal opinion. "It's everyone's decision; noone's forced to do anything, not in life. That's the way I see things."

"They have missed out on two windows to travel already, with just one more window left for early next

month.We have been waiting for approval from the ministry, it's been promising but yet to come," Odeh said.

players – The Organizing Committee of the Africa Cup of Nations has decided to increase the number of players to 5 additional players. Consequently, the list of players could be increased to a maximum of 28 players. This decision was taken to allow the participating teams have a larger squad list for the competition in case some players test positive for COVID 19. 2. On the other hand, please note that your federation will bear the cost of the international travel as well as the accommodation of these additional players on the final list. In view of the above, we would like to inform you that the

registration of the 5 additional players is only an option and not an obligation. 3. Number of substitute players: Concerning the number of substitutions, CAF will apply the law of three substitutions per match (+ 1 additional substitution in case of extra time) during the final tournament of the Africa Cup of Nations,” the statement stated. Cameroon will host the competition brought to winter from summer. It is scheduled to begin on January 9 and run till February 6, 2022 when the final will be played to decide the new continental champions. Algeria are the defending champions of the last edition.

GolfTakes One Away from Mischief, Says Abimbola Davies One of the big names associated with the annulled June 12, 1993 Presidential Election, Otunba Abimbola Davies, has declared that since golf is a solitaire where one can only cheat himself, it becomes clear that the game can take anyone away from mischief. Davies who claimed he came into golf by pure accident noted that he is yet to see a game that is so engaging to that point anyone involved would hardly think of any other thing. ‘’Truth is I have heard about the game from several people and places but not once did I think of ever getting involved,’’ began Davies. ‘’I wasn`t even watching the game from anywhere because I considered it as a waste of time. I must confess that the game was not just happening in my life.” But all that changed after a friend invited him for lunch at the Ibadan Golf Club. ‘’But on this day, my good friend, Charles Ajibode, asked me to come along to the Ibadan Golf Club for lunch and I obliged. “At the place, he took me to the kitchen where I ordered for my food. While waiting for the food to be ready, I sighted another close friend, Barrister SI Salami who has been a bosom friend way back in Lagos. He, too, came for lunch. ’’Before I knew what was

happening, seven of my great friends came in quick succession for same lunch. After that lunch, all of them moved inside the course for a game. I was amused and told myself there must be something about this place. Without any prompting

from anyone, I called for the membership form and joined that day,” revealed Davies of how he became a golfer. “I can’t believe how I quickly got engrossed in the game to that point a day would not pass without me playing. The Golf

Abimbola Davies (left) with Oyo State Governor Seyi Makinde at a golf event

Club could be anything but to me it is a place where you meet genuine friends who are genuinely concerned about your well-being. There can never be a game like golf,” concludes Davies who refused being drawn into the politics of the early 1990s.

Wednesday, October 27, 2021

UT H

& RE A SO

Price: N250

MISSILE Nyesom Wike to Politicians, FG

“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 citizens as we have experienced in the last six years. On a daily basis the economic, social and political rights … personal liberty are being violated with impunity” ---Rivers State Governor, Nyesom Wike, ﬁred the salvos, at the NBA conference recently.

FEMIFALANA GUEST COLUMNIST

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he Honourable Justice Anthony Nnaemezie Christopher Aniagolu served as Chief Judge of Anambra State from 1976 to 1978 and was a Justice of the Nigerian Supreme Court from 1978 to 1987. He was a Judge whose integrity and confidence led him to do justice to people from all walks of life. For the erudite Judge, the law spoke the same language in a democracy and under military rule. His Lordship never allowed any decree to tie his hands and prevent him from doing justice to the parties involved in any case. The well -written judgments of Justice Aniagolu are regularly cited by local and foreign courts. Even though his influence is noticeable in many areas of Nigeria’s adjectival and procedural law the contribution of the Judge to the development of the nation’s human rights jurisprudence is particularly remarkable. Upon attaining the mandatory retirement age of 70 years in 1987, Justice Aniagolu bowed out of the bench in a blaze of glory. But barely a year later, he was appointed the Chairman of the 567-member Constituent Assembly by General Ibrahim Babangida, the then head of the military junta. Even though the Assembly carried out the assignment with dispatch and produced the 1989 Constitution, General Babangida and his colleagues in the Armed Forces Ruling Council conspired to sabotage the extremely expensive transition program in contravention of Decree No 25 of 1987 by annulling the results of the June 12, 1993 presidential election won by Bashorun MKO Abiola. Hence, due to the abortion of the Third Republic by the military junta the 1989 Constitution did see the light of day. Based on his frustration and disappointment with the illegal action of the military junta, Justice Aniagolu decided to document his experience in a book entitled “The Making of the 1989 Constitution”. The public presentation of the book by the Aniagolu Family could not have come at a more opportune time than now that the members of the National Assembly are currently engaged in another amendment of the 1999 Constitution. In view of the relevance and topicality of the issues addressed by the jurist it is hoped that the members of the National Assembly and the various Houses of Assembly of all the States of the Federation will pay due attention to the book. Human Rights Cases: It was the strong belief of Justice Aniagolu that judges have an abiding duty to defend the fundamental rights of citizens. To that extent, he never wavered in the interpretation of the law as he consistently condemned the use of power by the executive and powerful people to abuse the human rights of the weak and vulnerable people in the society. To appreciate the enormous contributions of Justice Aniagolu to the development of the nation’s human rights jurisprudence it is pertinent to refer to his some of his judgments which have enhanced the observance of human rights of the Nigerian people. r3JHIU PG B DJUJ[FO UP B TQFFEZ BOE GBJS IFBSJOH In Ariori v Elemo (1983) N.S.C.C. 1, the appeal arose from the delay between the date the case was adjourned for judgment in the High Court and the date the judgment was delivered–a period of one year and three months. In the leading judgment of Kayode Eso JSC the case was ordered to be remitted to the High Court for a fresh trial before another judge as it was found that the long adjournment and the consequent delay had beclouded the mind of the trial judge in the recollection and appreciation of the facts and issues in the case. In his contributory judgment, Aniagolu JSC held that “In the determination of cases by courts of the land, speedy trial and fair hearing are an integral part of justice. Inter alia, a State exists to do justice–justice to the State and justice to the citizens. The doing of justice is an obligation which the State owes to its citizenry and which it exercises principally through its third arm, namely, the Judiciary. Any

The Late Justice Anthony Aniagolu functionary of the Judiciary to whom the discharge of this sacred obligation is entrusted on behalf of the State owes it as a duty to the corporeal of the citizenry, of which the State is a representation and a crystallization, to do undiluted and unmutilated justice to which society is entitled and from which no member of the society is permitted to derogate compromise.” r%VUZ PG +VEHFT UP EFMJWFS KVEHNFOUT XJUIJO NPOUIT Section 258 of the 1979 Constitution imposed a duty on Judges to deliver judgments not later than 3 months after the conclusion of hearing in a case. Notwithstanding such constitutional stipulation many judgments were delivered by Judges after 3 months. In setting aside the judgment of the trial court in the case of Chief Dominic Onuorah Ifezue v Livinus Mbadugha ...Aniagolu JSC insisted that the fundamental right to fair hearing guaranteed by section 33 of the 1979 Constitution should not be invoked to justify the delivery of judgments after the 3 months stipulated by section 258 of the said Constitution. According to his Lordship: “Whereas S.33(1) and (4) enjoin the courts to hear cases expeditiously, leaving the discretion to the courts, as indeed it must do, having regard to varying attendant circumstances that can befall a case in the course of hearing - availability of witnesses; illness of parties and witnesses, the pressure on the courts by reason of other cases to be heard; the strain on the judges who may thereby be compelled to be absent on one or other occasion; the indigency of parties resulting in. their inability to finance promptly the monetary aspects of the litigation or criminal proceed-ings, and a whole host of other circumstances which may delay the hearing of a case or impede its progress – S. 258 (1) deals with the situation where the hearing of a case has been concluded, including the final addresses, leaving only the judgment to be delivered, a final assignment remaining with the trial judge only, who has only t make up his mind and give expression to it in a considered judgment.” r%VUZ PG USJCVOBMT PG JORVJSZ UP SFTQFDU GVOEBNFOUBM SJHIU PG DJUJ[FOT UP GBJS IFBSJOH In the case of Sofekun v. Akinyemi & Ors (1980)

5 – 7 SC, 25, sometime in 1973, the appellant, a registered medical practitioner and Senior Consultant in Ophthalmology in the public service of Western State, was accused of certain criminal offences. The appellant was tried for these offences, consisting of four counts, by an Investigating Panel set up by the Commission. He was found guilty and dismissed from the service. In setting aside the dismissal, Justice Aniagolu said “It is essential in constitutional democracy such as we have in this country, that for the protection of rights of citizens, for the guarantee of the rule of law, which include according to fair trial to the citizen under procedural irregularity, and for checking arbitrary use of power by the executive or its agencies, the power and jurisdiction of courts under the Constitution must not only be kept intact and unfetted but also must not be nibbled at …” r&YFDVUJPO PG B DPOWJDUFE BSNFE SPCCFS XIPTF BQQFBM XBT QFOEJOH BU UIF $PVSU PG "QQFBM In Nasiru Bello v Attorney-General of Oyo State (1986) 1 S.C 1-76, the appellants’ father was charged with armed robbery, tried, convicted and sentenced to death. Even though the convict filed an appeal at the Federal Court of Appeal against the judgment of the trial court the deceased was however executed in execution of the sentence of death passed on him by the High Court of Oyo State after it had convicted him of the offence of armed robbery. Both the High Court and Federal Court of Appeal dismissed the case of the appellants. But the Supreme Court allowed the appeal. In deprecating the execution, Aniagolu JSC said that “This is the first cases in this country, of which I am aware, in which a legitimate Government of this country past or present colonial or indigenous hastily and illegally snuffed off the life of an Appellant whose appeal had vested and was in being, with no order of Court upon the appeal, and with a reckless disregard for the life and liberty of the subject and the principles of the Rule of Law. The brutal incident has bespattered the face of the Oyo State Government with the paintbrush of shame.” r'BJMFE "UUFNQU UP EFSPCF $IJFG (BOJ 'BXFIJONJ BT B MFHBM QSBDUJUJPOFS In Legal Practitioners Disciplinary Committee v Chief Gani Fawehinmi 1985) 1 NWLR (Pt 7) 700, Chief Gani Fawehinmi was accused of touting and advertising by the office of8 the Attorney-General of the Federation and Minister of Justice, Chief Richard Akinjide SAN with the connivance of the leadership of the Nigerian Bar Association at the material time. Gani was given 14 days within which to react to the 3-count charge alleged by the Attorney-General. But 3 days later, the Attorney-General summoned him to appear before a Disciplinary Committee. At that stage, Gani rushed to the Lagos High Court for the enforcement of human right to fair hearing. The presiding judge, Candide-Johnson J. (as he then was) halted the apparent inquisition of Gani. The Court of Appeal upheld the ruling but the Attorney-General and the leaders of the Bar pursued the matter to the Supreme Court. In dismissing the appeal Justice Aniagolu who read the leading judgment of the Court said that, “Not to have allowed Gani to make any explanation before preferring charges, would have been presumptuous of the Attorney General. One would have thought that an Attorney-General who by his training as a lawyer, and his position as Attorney-General, would have been endowed with a sharper instinct of the notions of natural justice than most others, would have accorded a colleague whose conduct was being pilloried, that elementary justice of hearing out his explanation, before proceeding to prefer charges and conducting his trial. The rule: audi alteram partem, runs as a principle inviolate through the blood of every lawyer.” r*MMFHBM DPOàTDBUJPO PG BO JNQPSUFE DBS CZ UIF 'FEFSBM (PWFSONFOU

In Margaret Chinyere Stitch v Attorney-General of the Federation (1986) LPELR-SC.88/1985, the Appellant, a legal practitioner and married to a German imported a second hand Mercedes Benz car into the country from Western Germany. The car arrived the Lagos port on February 29, 1982. She promptly applied for import duty which was not approved until April 29, 1982. In the meantime, a new policy the rate of duty on the type of the car from 33 1/3 % to 500%. She paid the duty of N1499,22 as against the new duty of N14,500.00. Having refused to pay the new duty fee Respondent refused to release the vehicle to her. The car was sold to one Mr. O.O. Onifade who cannibalised it. The case filed by the plaintiff against the confiscation and sake of the car was dismissed. The appeal filed against the decision of the trial court was dismissed by the Court Federal Court of Appeal. But the Supreme Court reversed the decisions of both lower courts. In the leading judgment of the Supreme Court, Justice Aniagolu ordered that the appellant must be entitled to receive from the tort feasor an amount which will buy her a second-hand Mercedes Benz 280 saloon car in good working condition, with accessories as contained in the car she imported into the country. Accordingly, the case was remitted to the High Court to take evidence to determine the value of the car on 3rd April 1982. In condemning the action of the Minister, Justice Aniagolu said that “it been a principle established by the court that once a prima facie case of misuse of power had been established, it would be open to the courts to infer that the minister acted unlawfully even if he declined to supply a justification at all, or supplied justification which is untenable in law. The principle basic in all common law countries, including Nigeria, is that under the universally accepted rule of law, the minister must act fairly and not to the prejudice of the citizen. The courts have inclined, over the years, to the protection of the rights of the citizen even in times of war when the defence of the realm had all been paramount.”

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In recognition of his unalloyed commitment to justice and fair play, Justice Aniagolu was appointed to head the Judicial Commission of Enquiry set up by the Federal Government to probe the remote and immediate causes of the Maitatsine riots which broke out in Kano in December 1980. In its comprehensive report the Commission found that the Maitatsine movement was led by Muhammadu Marwa, a Cameroonian who had resided in Kano where he opposed the Nigerian State without any challenge. The report confirmed that the crisis led to 4,000 deaths and destruction of properties worth hundreds of millions of Naira. The Commission dismissed the alleged involvement of President Muammar Gaddafi Libya and other suspected foreign elements in the crisis but urged the Government to address the socioeconomic conditions that attracted youths to Marwa as well as the porous nature of the nation’s borders. Since the recommendations were ignored by the Government the country has continued to witness religious riots which have since graduated into terrorism in the North West and North East Zones of the country. 5IF .BLJOH PG UIF $POTUJUVUJPO Having interpreted various provisions of the 1963 and 1979 Constitutions at the High Court and apex court for 30 years his Lordship brought his wealth of experience to bear in preparing the 1989 Constitution. Although the Constitution was never promulgated a few of the sections have been adopted by the Federal Government and a number of State Governments. Some of the novel provisions of the Constitution are examined below: NOTE: This piece continues in the online edition on www.thisdayliive.com

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