FRIDAY 28TH OCTOBER 2022 by THISDAY Newspapers Ltd

Zenith Bank Surmounts Headwinds with Strong Q3 2022 Topline and Bottom Line Performance Kayode Tokede Zenith Bank Plc has announced its unaudited results for the third quarter ended September 30, 2022, recording a remarkable double-digit

growth of 20 per cent in gross earnings, from the N518.7 billion reported in the third quarter (Q3) 2021 to N620.6 billion in Q3 2022. The performance demonstrated the Group’s resilience against a

challenging macroeconomic environment. According to the unaudited account presented to the Nigerian Exchange Limited (NGX), the growth in the top-line was driven

by interest and non-interest income growth. Precisely, its interest income grew by 27 per cent, from N308.8 billion to N390.8 billion, driven majorly by growth in risk assets and an improvement in pricing.

This also strengthened Zenith Bank’s earnings per share (EPS) by nine per cent to N5.55. The double-digit growth in top-line also aided its bottom line, as the Group recorded a 13 per

cent year-on-year (Y-o-Y) increase in profit before tax, growing from N179.8 billion in Q3 2021, to N202.5 billion in Q3 2022. Continued on page 5

Finally, Elon Musk Announces Buying Twitter in $44 Billion Deal... Page 47 Friday 28 October, 2022 Vol 27. No 10059. Price: N250

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Terror Threat: UK, US Govts Update Travel Advisories to Citizens... Page 49

Sanwo-Olu Presents N1.69trn 2023 Appropriation Bill to Lawmakers Prioritises human capital, others Says test-running of Lekki deep seaport begins next week Segun James Lagos State Governor Babajide Sanwo-Olu has reeled out what

the priorities of the state would be in 2023 when he presented N1.693 trillion 2023 appropriation bill to the House of Assembly

yesterday. The state, the governor said would sustain its strategic investment in human capital and

channel resources to deliver more infrastructure to keep its economy on the path of growth beyond next year.

During the budget presentation, Sanwo-Olu said the state government’s major concern in 2023 would be health,

environment, education, and economy. Continued on page 5

Coalition of Political Parties Hails CBN’s Plan to Redesign Naira Notes Says only intending vote-buyers, beneficiaries of proceeds of crime will kick against move Again, EFCC chair welcomes initiative, insists people hoarding naira to speculate on FX Ex-president of ACTN backs apex bank Declares policy needed to address alarming volume of currency outside banking system Chuks Okocha in Abuja and Dike Onwuamaeze in Lagos The Conference of Nigeria Political Parties (CNPP) has hailed the Central Bank of Nigeria (CBN) over its move to redesign the N200, N500 and N1, 000 banknotes. In a statement yesterday in Abuja by its Secretary General, Chief Willy Ezugwu, CNPP said,

“Only politicians who intended to buy votes” and other equally ill-motivated elements would criticise CBN’s action. Similarly, Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, yesterday, reiterated his support for CBN’s decision to Continued on page 5

US Business Community Invites VISITS BAYELSA FLOOD VICTIMS... Atiku for Bilateral Meeting... Page 46 JONATHAN Former President Goodluck Jonathan (middle) in a canoe in Otuoke with former Commissioner of Bayelsa State, Hon. Tobias James (backing camera)

See story on page 47

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Nigeria Loses Compensation Bid over Glencore Bribery Emmanuel Addeh in Abuja Nigeria’s bid to claim compensation from a British subsidiary of mining and trading group Glencore over bribes paid to officials at Nigeria’s state oil company has been denied by a London court. Lawyers representing the country told London’s Southwark Crown Court that Nigerian officials should be permitted to address the court on

November 2 and 3, when Glencore Energy is to be sentenced having pleaded guilty to seven counts of bribery in connection with oil operations in five African countries including Nigeria. But Judge Peter Fraser ruled that Nigeria does not have the right to be heard, as only the prosecution, in this case the UK Serious Fraud Office (SFO), and the defence can make arguments at a sentencing

hearing, Reuters reported. Nigeria said in written arguments it is “an identifiable victim of Glencore’s admitted criminal activity”, as two of the charges to which Glencore Energy has pleaded guilty relate to payments made to Nigerian National Petroleum Company (NNPC) officials. The SFO had argued that individuals or entities who are not involved in a criminal case

ZENITH BANK SURMOUNTS HEADWINDS WITH STRONG Q3 2022 TOPLINE AND BOTTOM LINE PERFORMANCE Profit after tax equally grew by nine per cent, from N160.6 billion to N174.3 billion in the same period. Growth in non-interest income was enabled by the Group’s retail strategy, with continued substantial customer acquisition driving transactions, deposit growth and growth in electronic banking income. Due to inflationary pressure and the rising cost of doing business, its operating costs grew by 17 per cent. However, this was below the growth in gross earnings (20%), thereby facilitating the double-digit growth in the bottom line. The continuing elevated yield environment affected the cost of funding which increased from 1.4 per cent to 1.7 per cent in the current period. This affected the net interest margin (NIM), which dropped due to the immediate implementation of higher yields on interest-bearing liabilities. However, the NIM was expected to see a correction in subsequent quarters as the assets side is repriced correspondingly. Furthermore, Zenith Bank’s total assets grew by 20 per cent, from N9.45 trillion to N11.34 trillion in 2022, mainly driven by growth in customers’ deposits. Customer deposits grew by 24 per cent from N6.47 trillion in December 2021 to N8.04 trillion in September 2022, due to the market’s confidence in

the brand. Loans and advances also grew by 16 per cent from N3.5 trillion in December 2021 to N4.06 trillion in September 2022, boosting the Group’s interest income and displaying the Group’s appetite for high-yielding risk assets creation. As a result of this growth, Zenith Bank’s capital adequacy ratio reduced from 21 per cent to 19.1 per cent, while liquidity ratio reduced from 71.6 per cent to 68.9 per cent. Both prudential ratios remain very strong and are still well above regulatory thresholds. “In the year’s final quarter, management is determined to sustain the strong performance trajectory while adapting to changes in the regulatory environment and focusing on creative initiatives to mitigate inflationary trends, foreign exchange pressures and the growing competitive environment,” the bank explained. Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards, including being recognised as Number One Bank in Nigeria by Tier-1 Capital, for the 13th consecutive year, in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine; Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World’s Best Banks Awards; Best

Commercial Bank, Nigeria 2021 and 2022 in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022; Best in Corporate Governance’ Financial Services’ Africa, for three consecutive years from 2020 to 2022, by the Ethical Boardroom; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards. Also, the Bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020 and Retail Bank of the year at the BusinessDay Banks and Other Financial Institutions (BOFI) Awards 2020 and 2021. Similarly, Zenith Bank was honoured as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020 and emerged winner in four categories at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021, carting home the awards for “Best Company in Reporting and Transparency”, “Best Company in Infrastructure Development”, “Best Company in Gender Equality and Women Empowerment”, and the coveted “Most Responsible Organisation in Africa.

do not have the right to address the court at sentencing, “even if they consider themselves to be the victims of crime”. Alexandra Healy, representing the SFO, also said in court filings that “there is no link between the bribes paid and any loss suffered”. Nigeria’s lawyers said Glencore is not prepared to engage on the issue of compensation, but Clare Montgomery, representing Glencore Energy, told the court that her client rejected the “attack on the corporate morals of Glencore”. She also said the contention that Glencore is “hiding behind the SFO to avoid paying anything to [Nigeria] is simply untrue”. Sam Tate, a partner at law firm RPC which represented Nigeria, told reporters after the hearing that the ruling demonstrated the “very urgent need to reform the rules on compensating foreign countries where we have foreign bribery offences”. Pressure group Spotlight on Corruption said the court’s decision

is “a powerful illustration of why the current compensation framework simply isn’t fit for purpose”. Glencore International and Glencore Ltd., both part of a Switzerland-based multi-national commodity trading and mining firm, were earlier named in massive bribery of officials of Nigeria’s state-owned oil company, pleaded guilty and agreed to pay over $1.1 billion fine over their involvement in a corruption scheme. A former United Kingdom-based trader for Glencore Plc, Anthony Stimler,had confessed to bribing officials in Nigeria in exchange for favourable contracts from the NNPC. Mr Stimler, acting through subsidiaries of Glencore, conspired with others to make millions of U.S. dollars in corrupt bribe payments to officials in Nigeria. The former trader pleaded guilty over what prosecutors in the United States described as his role in a scheme to bribe and he admitted to conspiring to violate the Foreign Corrupt Practices Act

SANWO-OLU PRESENTS N1.69TRN 2023 APPROPRIATION BILL TO LAWMAKERS Sanwo-Olu proposed N153.5 billion allocation to education next year, representing 9.07 per cent of the total budget estimates, in order to consolidate the gains of the past years in the sector. He said the previous investments in education had yielded, leading to the achievement of a record high performance of 82 per cent in the 2022 West African Senior School Certificate Examination (WASSCE). This was against 39 per cent in 2019 when the administration came on board. The governor earmarked N339 billion capital (20.06 per cent) to provide infrastructure in various sectors next year, while dedicating an aggregate of N191 billion, representing 11.29 per cent, to health and environment. The fiscal proposal tagged,

“Budget of Continuity”, Sanwo-Olu said, presented his administration the opportunity to consolidate on its development strides since inception and satisfy the yearnings of the residents. He said the state would not only aggressively focus on completing ongoing projects next year, it would also expand intervention programmes and intensify social supports to citizens and their means of livelihoods. The 2023 Appropriation Bill has a capital expenditure of N932.7 billion, representing 55 per cent of the 2023 budget. The recurrent expenditure, representing 45 per cent, is N759.96 billion, which includes personnel cost, overhead and debt services. Sanwo-Olu said the next year’s spending would further demonstrate his government’s

Bawa described the plan by the central bank to redesign the country's currency as a welcome development. The EFCC chairman said this while answering questions from reporters after defending the agency’s 2023 budget before the Senate Committee

determination to scale up good governance and quality service to the people through the T.H.E.M.E.S Agenda, stressing that the budget would propel the State to higher level of fiscal growth and social development. He said: “The 2023 Appropriation Bill, which will be the final budget of our administration before the 2023 general elections, expresses our unwavering determination to keep serving the people of Lagos through our development agenda, while we uphold the trust and faith reposed in us by the people since 2019. “As we return to the campaign trail to seek the mandate of Lagosians for another four years, we have resolved to continue our audacious interventions in every sector of the economy. “This Budget of Continuity will propel Lagos to the next fiscal level and economic growth. Another significant moment beckons in the life of our administration; it is the culmination of a tenure dedicated to achieving a Greater Lagos, and the start of a new one dedicated to unlocking a higher level of growth and prosperity for our people. “Next year, we will aggressively focus on completing ongoing projects, while also expanding our social intervention programs and support for citizens, and for micro and small businesses. The budget will offer us an opportunity to consolidate on all we have been doing towards satisfying the yearnings and aspirations of the people.” Of the proposed 2023 expenditure, N1.343 trillion would accrue from Internally Generated Revenues (IGRs) and federal transfers, while deficit financing of N350 billion would be sourced from external and domestic loans, and bonds projected to be within the state’s fiscal sustainability parameters. The state would be earmarking an aggregate of N67.4 billion, representing 3.98 per cent of the 2023 budget, to achieve the government’s social housing programme and provide amenities across communities. The governor justified the state’s continued investment in security, noting that Lagos was relatively safer than most parts of the country that are facing serious security breaches. He raised the vote dedicated to public order and safety to 4.78 per cent to sustain security spending and make Lagos safer for living, working and investment. Despite global economic challenges, Sanwo-Olu said Lagos would be moving into the New Year, reaping bountiful dividends from its investment in integrated transport infrastructure

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COALITION OF POLITICAL PARTIES HAILS CBN’S PLAN TO REDESIGN NAIRA NOTES redesign some denominations of the naira. Bawa said some persons were hoarding and using the country's currency to speculate on the foreign exchange (FX) market. Former President and Chairman, Governing Council, Association of Corporate Treasurers of Nigeria (ACTN), Mr. Zeal Akaraiwe, described the decision of the CBN as the solution needed to bring in large amounts of cash into the banking system and enhance the effectiveness of the apex bank’s monetary policies. Akaraiwe expressed this view yesterday during a media briefing organised by ACTN to announce its 2022 Treasury360 Nigeria Conference and Exhibition, scheduled for November 17, 2022. CNPP said in the statement, “Only politicians who intended to buy votes and financially induce electoral officials, the ignorant of the import of the policy or beneficiaries of proceeds of crimes, including drug barons and kidnappers, will kick against the move by the CBN.” According to the umbrella association of all registered political parties and political associations in Nigeria, “The effort of the CBN to control the amount of money in circulation, where N2.7 trillion out of the N3.3 trillion currency-incirculation was said to be outside the vaults of commercial banks across the country and are found to supposedly be held by members of the public, is of high risk for the country's economy and her internal security. “It is, therefore, obvious that many politicians, especially since 2015, amassed illicit wealth and depleted the national commonwealth to the extent that the currency in circulation has more than doubled since 2015, rising from N1.46 trillion in December 2015, to N3.2 trillion as of September 2022, according to the CBN data.” Furthermore, CNPP stated, “Certainly, this is unacceptable in any economy controlled by sane

financial experts. The CNPP is glad that the timing for this Naira notes redesign is right, as there is no better time than in an election year, especially where politicians have made vote-buying an alternative to convincing the electorate through their track records and capacity to govern beyond rhetoric as well as a commitment to selling the manifestos of their political parties during campaigns. “In recent times, rather than candidates and their supporters working towards convincing electorates to vote for their preferred political parties, they resort to use of derogatory words against the opposition or fan the embers of ethnicity and religion. “So, as dramatic as the move may seem, the CNPP is totally in support of the CBN and the CBN Governor, Mr. Godwin Emefiele, on this policy initiative and hereby call on all security agencies, including the Department of State Services (DSS), the Economic and Financial Crimes Commission (EFCC), and the ICPC to redouble efforts to reduce insecurity and electoral corruption by placing all politicians contesting in the 2023 general election on perpetual surveillance. “We urge the anti-graft units of all security agencies and commissions to use the opportunity created by the new and existing currencies exchange window from December to January 31, 2023, when the existing currencies shall cease to be a legal tender, to monitor illicit campaign financing, money laundering, terror financing, ransom to hostage takers and drug barons. “In the same vein, bank managers should be banned by the CBN from any form of home delivery of cash to citizens and corporate organisations until after February 1, 2023 to ensure that the country reaps the gains of the CBN monetary policy. “We urge the CBN to ensure that all exchanges of old notes with new notes should go through the

bank accounts of the individuals exchanging large sums of money as part of efforts to track illicit funds, as such individuals and corporations can be made to explain how they came about the large sums of monies to security operatives, especially the EFCC. “We, therefore, call on all well-meaning Nigerians, patriotic Whistle-blowers and security agencies to ensure that this lifetime opportunity leads to sanity in the Nigerian economy and the political arena as part of efforts in deepening democracy and reducing the number of drug lords and corrupt politicians in office from 2023 general election. “We equally commend President Muhammadu Buhari for his approval of the planned redesign of the currency notes, especially at this time.” Akaraiwe described the CBN decision as a crucial step in bringing back large volumes of money circulating outside the banking system. Akaraiwe spoke at the conference to announce the ACTN conference, with the theme, “Getting Through the Uncertainties of Supply Chain Disruption, Currency Volatility and Inflation.” Akaraiwe, who is also a member of the governing council of ACTN, said, “On a personal note, we all heard what the CBN governor said yesterday (Wednesday) on redesigning the currency and that is what we should focus on. “The amount of cash in circulation outside the banking system is very alarming. And the CBN needs to take measures to police it. And redesigning the currency is one of the most efficient ways to achieve that. So, that is what they are doing. And I think, in terms of pulling money into the banking system, this is a good way to go about it. “This is what the CBN is trying to achieve and I think this (redesigning the currency notes) is the best way to achieve it.”

and commit money laundering at a hearing in Manhattan federal court conducted by video. Prosecutors said millions of dollars in bribes were paid to officials in Nigeria, in exchange for NNPC awarding oil contracts and providing “more lucrative grades of oil on more favourable delivery terms. The US’ Department of Justice said that Glencore had agreed to a criminal fine of more than $428 million and to criminal forfeiture and disgorgement of more than $272 million. Glencore had also agreed to retain an independent compliance monitor for three years. Between 2007 and 2018, Glencore and its subsidiaries caused approximately $79.6 million in payments to be made to intermediary companies in order to secure improper advantages to obtain and retain business with state-owned and state-controlled entities in the West African countries of Nigeria, Cameroon, Ivory Coast, and Equatorial Guinea.

Akaraiwe also explained, “What many people are not aware of is that there is a Decimal Law Act that says that if you're going to redesign the currency, you must give at least three months’ notice. And the central bank has complied with that law.” Incumbent President and Chairman in Council of ACTN, Mrs. Victory Olumuyiwa, said the association would continue to collaborate with CBN in implementing the apex bank’s policies. Olumuyiwa explained that the Treasury360 Conference and Exhibition was inspired by the corporate treasury practitioners’ commitment to making “positive and impactful contributions to the global relevance of our Nigerian business economies while strengthening our growing nation, Nigeria (sic). “This conference is the first in the series of strategic engagements to inform, educate, highlight, partner and deliver on what will become the foundation for growing the relevance of Nigerian business economies with a focus on our global relevance (sic). “The importance of a forum like this underscores the important role of corporate treasurers to overcome these challenges and accelerate the pace of change in 2023 and beyond. You will all agree with me that this opportunity to seek and implement pragmatic solutions cannot be overstated.” Olumuyiwa also announced that Deputy Governor, Economic Policy, CBN, Dr. Kingsley Obiora, would be the special guest of honour at the forthcoming conference, while Chief Executive Officer, FMDQ, Mr. Bola Onadele, would be the conference’s keynote speaker. Emefiele, who announced the resolve of the apex bank to redesign the banknotes at a media briefing on Wednesday in Abuja, had said the redesigning of the notes would affect the N200, N500, and N1, 000

denominations. Emefiele pointed out that the change was sequel to the approval of President Muhammadu Buhari and circulation of the new banknotes would commence on December 15, 2022. He said the development was also aimed at checking the increasing ease and risk of currency counterfeiting evidenced by several security reports, and the increased risk to financial stability as well as the worsening shortage of clean and fit currency, with the attendant negative perception of the central bank. Emefiele said there was significant hoarding of naira notes by members of the public, with statistics showing that over 80 per cent of the currency in circulation were outside the vaults of the commercial banks. He said as of September 2022, a total of N3.2 trillion was in circulation, of which N2.73 trillion was outside the vaults of the banks, describing the development as unacceptable. Emefiele had also urged bank customers to begin paying into their bank accounts the existing currency notes to enable them to withdraw the new banknotes once circulation begins mid-December 2022. The CBN governor said for the purpose of the transition from existing to new notes, bank charges for cash deposits had been suspended with immediate effect. He added that no bank customer should bear any charges for cash returned/paid into their accounts.

Currency Redesign Welcome Development, Bawa Insists

T H I S D AY • FRIDAY, OCTOBER 28, 2022

NEWS

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

SIGNING CEREMONY FOR KADUNA REFINERY QUICK FIX... L-R: Chairman, Daewoo, Wonju Jung; President/CEO, Daewoo, Jung Wan Baek; Group Chief Executive Officer, Nigerian National Petroleum Company Limited (NNPC), Mele Kyari, and Minister of State for Petroleum Resources, Timipre Sylva, during the signing ceremony of the agreement on the letter of intent for the quick fix of the Kaduna Refinery between Daewoo and NNPC witnessed by President Muhammadu Buhari in Seoul, South Korea…yesterday

UN: No Credible Path to 1.5°C Carbon Emissions Reduction Target Shell earns $9.454bn in Q3, second highest ever Oil giant’s shareholder distributions hit $26bn Emmanuel Addeh in Abuja As growing climate change impacts are experienced across the globe, the United Nations Environment Programme (UNEP), has said as of today, there’s no credible pathway to achieving the 1.5°c carbon emissions target. In a new report, “Emissions Gap Report 2022”, the body stated that the message that greenhouse gas emissions must fall is unambiguous,

explaining that findings have shown that the international community is falling far short of the Paris goals. It stated that with no credible pathway to 1.5°C in place, only an urgent system-wide transformation can avoid climate disaster. President Muhammadu Buhari recently set a 2050 goal for Nigeria to meet the NetZero target for the country, although for a country that depends almost solely on hydrocarbons sale for its foreign

exchange earnings, it remains to be seen how this will be achieved. The report showed that updated national pledges since COP26 – held in 2021 in Glasgow, UK – make a negligible difference to predicted 2030 emissions and that the world is far from the Paris Agreement goal of limiting global warming to well below 2°C, preferably 1.5°C. “Policies currently in place point to a 2.8°C temperature rise by the end of the century. Implementation

of the current pledges will only reduce this to a 2.4-2.6°C temperature rise by the end of the century, for conditional and unconditional pledges respectively. “The report finds that only an urgent system-wide transformation can deliver the enormous cuts needed to limit greenhouse gas emissions by 2030: 45 per cent compared with projections based on policies currently in place to get on track to 1.5°C and 30 per cent

for 2°C,” it stated. The UN body stated that the report provides an in-depth exploration of how to deliver the transformation, looking at the required actions in the electricity supply, industry, transport and buildings sectors, and the food and financial systems. Meanwhile, Shell intends to lift its dividend and is launching a new share buyback programme after reporting its second-highest

Emefiele Urges Financial Institutions to Take Proactive Steps against Rise in Cybercrime CBN’s NCR records N16.6trn in collateralised credit Nume Ekeghe The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has advised banks and other Financial Institutions (OFIs) to prepare against the rising threats of cybercrime in the financial system Emefiele said this yesterday at the second National Risk Management Conference where stakeholders gathered to discuss, “Risk Management in the Promotion of Financial System Development for Economic Growth.” This was just as the Registrar of the National Collateral Registry (NCR) Mr. Bulus Musa yesterday revealed that over N16.6 trillion in credit has been collateralised on the registry's portal since its inception. Emefiele who was represented by Director, Financial Markets Department, Dr. Angela SereEjembi stressed that effective risk management in the financial system was a catalyst for economic growth. The CBN governor said: “Traditionally, financial institutions have predominantly focused on financial risk, but have made efforts in rebalancing over the past decade to strengthen non-financial risk management. “However, over time, the lines between financial and non-financial risk have started to and will continue to blur. This is apparent when considering increased recent targeted cyber-attacks on critical IT

infrastructure, the opportunities and risks presented by financial innovation driven by technological change (Fintechs), developments on the central bank digital currency, and our learnings from the recent response to the pandemic.” “Technological disruptions experienced in the last decade has been forceful and impactful in all spheres of life. The rapid evolution of fintech companies has continued to alter the financial landscape globally and developments have continued to disrupt traditional ways of offering financial services in the banking landscape. “Business transactions and financial services are becoming more digitised and reliant on the internet. Alongside this, the extent of technology risks and the level of sophistication of cyber-attacks are rapidly expanding. “Threats such as ransomware, targeted phishing attacks etc have become prevalent and could destroy the trust placed on financial institutions and OFIs. This development has demanded that financial institutions, including OFIs, strengthen their cyber resilience and take proactive steps to secure their critical information assets to ensure their safety and soundness,” the CBN governor said. According to him, given how extensively technology has altered the world today, being technology savvy has become a crucial requirement for risk managers

today. “Technological savviness is crucial for two reasons. First, technology can be harnessed to improve business operations and enhance risk management. Secondly, it allows us to quickly identify and respond to new sources of risks emanating from technological developments. “The potential of technology in risk management is vast, not only for the automation of tasks, but increasingly as a tool for making business decisions as well. “The application of big data analytics and artificial intelligence to assess and predict human behaviour, for instance, can provide great value to businesses in terms of reducing risks. Considering these issues highlighted, there is a need for risk managers to be quick in identifying and responding to cyber risks,” he said. He pointed out that the CBN recently issued a risk-based cybersecurity framework and guidelines for OFIs, which represent the minimum requirements to be put in place by all OFIs, saying this was in addition to a series of fintech-based policies and guidelines which include the regulatory sandboxes, open banking, and cybersecurity, among others. He said they were released by the central bank to strengthen cyber security risk management in its determination to ensure a robust regulatory landscape without stifling

innovation. Also in other reforms undertaken by the CBN to sustain growth in the economy, he said the central bank worked with the fiscal authorities in instituting strong policy support measures under the Economic Sustainability Plan (ESP), which was designed to contain the effects of the pandemic, restore stability to the economy by helping households and businesses affected by the pandemic and to lift our economy out of the woods through massive interventions to critical sectors. He added: “Under this plan, the monetary and fiscal authorities collectively mobilised and injected over N5 trillion to support households and businesses. The CBN deployed more than N3.5 trillion, - about 4.1 percent of Nigeria’s GDP to critical sectors such as agriculture, manufacturing, electricity, and healthcare in order to stimulate and help the economy recover from the deep shock. “In the real sector, the CBN has released the sum of N66.99 billion to 12 additional projects in manufacturing and agriculture. Cumulative disbursements under the Real Sector Support Facility (RSSF) currently stands at N2.10 trillion disbursed to 426 projects across the country.” Furthermore, he pointed out that under the 100 for 100 Policy on Production and Productivity (PPP), the apex bank disbursed the

sum of N20.17 billion to 14 projects in healthcare, manufacturing, and services, bringing the cumulative disbursement under the facility to N93.39 billion to 62 projects. In the healthcare sector, N4 billion was disbursed to two healthcare projects under the Healthcare Sector Intervention Facility (HSIF), bringing the cumulative disbursement to N130.54 billion for 131 projects, comprising of 32 pharmaceuticals, 60 hospitals and 39 other services. “Under the Export Facilitation Initiative (EFI), the Bank funded several commodity projects in the non-oil export segment for value-addition and production to the tune of N3.24 billion, aside the N50 billion disbursed through the Nigerian Export Import Bank (NEXIM). “In the Micro, Small and Medium Enterprise (MSME) sector, the Bank supported entrepreneurship development with the sum of N39.26 million under the Tertiary Institutions Entrepreneurship Scheme (TIES), bringing the total disbursement under this intervention to N332.43 million. “Under the Intervention Facility for the National Gas Expansion Programme (IFNGEP), the Bank disbursed N1 billion to support the adoption of Compressed Natural Gas (CNG) as the preferred fuel for transportation and Liquefied Petroleum Gas (LPG) as the preferred cooking fuel,” Emefiele said.

quarterly earnings for Q3, second only to the record profit for the previous quarter. Shell reported on Thursday adjusted earnings—the measure most closely watched by analysts—of $9.454 billion for the third quarter, the second-highest quarterly profit for Shell ever, after the record earnings of $11.472 billion for the second quarter. Shares in Shell shot up by more than 2per cent at opening in London after the release of the results, oilprice.com reported. For the third quarter, Shell saw lower earnings from its gas division, as it had already flagged earlier this month. The Q3 adjusted earnings below Q2 levels mainly reflected lower trading and optimisation results in addition to lower volumes, including the impact of maintenance and the strike at the Prelude LNG in Australia, Shell said. The trading and optimisation results in gas were “impacted by seasonality and supply constraints, coupled with substantial differences between paper and physical realisation in a volatile and dislocated market,” it added. Shell’s refining margins were lower in the third quarter, due to a recovery in global product supply to meet demand. Chemicals margins were also lower compared to Q2, due to higher feedstock and utility costs. Nevertheless, Shell said it delivered “robust results from a resilient portfolio.” “Today we are announcing a new share buyback programme resulting in an additional $4 billion of distributions, which we expect to complete by our Q4 2022 results announcement. “Furthermore, we plan to increase the Dividend Per Share (DPS) for the fourth quarter, which will be paid in March 2023, by an expected 15 per cent, subject to board approval,” Chief Executive, Ben van Beurden, said in a statement. The new share repurchase programme is expected to be completed by the time the supermajor announces Q4 2022 results in early February 2023. So far this year, the announced 2022 shareholder distributions are around $26 billion, Shell said.

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POLITICS

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com 08033025611 SMS ONLY

Sanwo-Olu Wants Active Participation of Youths in Politics Segun James writes that Governor Babajide Sanwo-Olu of Lagos State has emphasised the need for the youths to be actively involved in the 2023 general elections in the country

t a recent forum to mark the 64th birthday of renowned journalist and activist, Richard Akinnola, Governor of Lagos State, Babajide Sanwo-Olu, gave a talk on the issue of youth participation, role, and their impact in the polity. In recent times, the youth have been the focus of the main political parties given their recent interest in the political process and their desire for change which has been resonating across the nation. For the first time in the political history of the nation, they have shown a massive interest in the political system, a situation which has become of great concern to politicians. It was this that prompted the Governor to advise public officeholders and the political class to be deliberate in engaging the youths to foster development, peace, and unity in the country, even as he acknowledged that challenges abound in the country, concerning political, ethnic, social and religious issues, but hinted that the real test of leadership is the ability to rise and surmount the myriad of challenges facing the nation especially as it concerns the youth. Until recently, the youths have a reputation for taking to the streets on election day to play football on traffic-free roads and generally milling out in groups. They constitute the majority of the voting-age adults in the country, yet make up the least voting bloc in any election. In 2019, of the 84 million registered voters, the youths between the ages of 18-35 years make up 42,938,458 or 51.i% of registered voters in the country. Yet, with this numerical superiority of the youth population in Nigeria, they accounted for just 39% of voters in that election. Before now, the complaint from the youth was that their votes had neither mattered nor counted and that the powers that be in the country will always rig their way into power regardless. But with recent awareness and the figures from the Independent National Electoral Commission (INEC) that the majority of the recent registrant in the election process are youth, the need to court their support had become very urgent. Outlining various ways in which his administration had involved the youths, cutting across different sectors based on his THEMES developmental agenda for Greater Lagos, Sanwo-Olu, admonished the youths to take advantage of the many opportunities created by his government, assuring them that his administration would continue to use technology to deliver good governance. He said: “Our responsibility as a government and as leaders is to reduce the tendency of poverty and create opportunities to take people out of the shackles of poverty. Education happens to be one; knowledge and skill acquisition is another one. Once you can liberate yourself from the shackles of poverty, you have a free mind, heart and soul to desire and design things for yourself. “There is a huge opportunity in this country. I want to urge all of you as builders of the nation and leaders of tomorrow; don’t lose hope. People that lose hope are people that are doomed. You cannot lose hope. Every day you wake up is hope for you and that hope should be the thing that should drive you. That hope should be the thing that should propel you. “You cannot give up because giving up is not an option. In the political, economic and social inclusion space, you cannot give up. Giving up is giving out and that is not the spirit and energy of the youth. The future is here, you are the future. Take hold of it because you need to be in the room to take over. It is important for the youths to participate in the democratic process”. The Governor also urged the youths

to make good use of social media as a weapon for their liberation and ensure that they use it to be better persons in future. In another event on the same day, the Governor at the inauguration of a recreational park in the Ketu area of Lagos State, with the facility symbolising the commercial city’s constant craving for enduring harmony, once again harped on the importance of the youth to the political system. “We made the promise less than a year ago that we would build this Peace Park, which would be a place that will bring all

of us together. This project was conceived to be a symbol that will further strengthen our unity, diversity, and the sense of equity that we share as residents of this State. We are here today to hand over the facility for public use and this is another example that, when we make a promise, we will fulfill it. “This recreation ground is for our youths who will use this facility not only as a convergence point for various life-changing activities but also as a symbol of unity and peaceful coexistence. Our young people should see this park as a means of Govern-

ment identifying with them and use it as a platform to uphold their aspirations and interests. This is why we name the park ‘Peace’ because we believe there is nothing that cannot be achieved in an atmosphere of peace and tranquility. “This is another demonstration of our commitment to the well-being of our residents, especially the young people. This project is significant and it should be seen as evidence that we are a government that listens to the expectations of the people; a government that is passionate about what the youth want and what will benefit them. We will be ever ready to listen and work with our youths to ensure peace reigns in Lagos,” Sanwo-Olu said. If the Governor has risen to the importance of the youth in the political evolution of the state, he also shares the same sentiment about public service workers in the state. In his first official visit to the Lagos State Secretariat, Alausa, Sanwo-Olu told them he has their backs when it comes to their welfare and development. In a surprising move, he announced a pay raise for them. The move, he said, is to cushion the effects of inflation, high prices of commodities, and the rising cost of living being experienced across the globe. The announcement elicited spontaneous jubilation from workers, as the news went around the secretariat. The enthusiastic staff said the new salaries would boost productivity and scale up service delivery to residents. Sanwo-Olu said the workers deserved encouraging welfare and benefits, given their unprecedented support and commitment to the core mandates of the State Government. The Governor added that the gesture would further motivate the State’s workforce and enhance its services to the people. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

As Senator Tolu Odebiyi bags CON Award... Olubunmi Omoogun writes about the legislative as well as community interventions of Senator Tolu Odebiyi which recently earned him the prestigious Commander of the Order of the Niger award from President Muhammadu Buhari

or you to stand before kings and queens, you would have done the extraordinary. For you to stand tall and standout, you must have done your work with every touch of discipline and diligence. A politician that stood tall among those distinguished personalities President Muhammadu Buhari recently conferred national honours award on, is the Senator representing Ogun West Senatorial District in the National Assembly, Tolu Odebiyi, who received the prestigious Commander of the Order of the Niger (CON) award. The Senator who has made exceptional contributions in service to the country has demonstrated that public good must always be an inherent consideration in governance, by working with every touch of discipline and diligence. The Senator is a man of many novelties with an unforgettable legacies. It is on record that this great man crafted and sponsored several national Bills with high impact, one of them is a Bill for an act to establish the National Institute for Border Studies that will cater for all the border challenges Nigerians are facing, as well as constructed water projects in Moro, Yewa North Local Government Area. A community that was without potable water for 150 years. All these swift

interventions won him widespread praise and national acclaim. To ensure that indigenous Ogun West students excel in public tertiary institutions in Nigeria, he launched the Tolu Odebiyi Scholarship Foundation in 2019. Furthermore, over 200 students of the Foundation have benefited from the scholarship program with most getting employment in major multinational firms upon graduation. In his determination to reverse Nigeria’s

shares in the unenviable status of being among countries with the highest unemployment rate in the world, Senator Tolu Odebiyi also used graduate-trainee opportunities from Fintech companies as a powerful instrument to help change the narrative especially for the teeming youth population in Ogun West As part of his long-term impact and unwavering commitment to the development of Ogun West Senatorial District, he also built, renovated and furnished public schools for the use of teachers and students in the five Local Government Areas that make up the district. Thanks to his efforts, hundreds of thousands of families are relieved of facing food shortages during the ravaging COVID-19 global pandemic. His interventions in all areas of governance have been hugely applauded by his Constituents and interestingly enough, by his colleagues at the 9th Nigerian Senate of the Federal Republic of Nigeria. As a first time Senator, the conferment of national honours award, Commander of the Order of the Niger (CON), is a testament to the fact that the Senator is a thoroughbred professional, patriot and a democrat. -Omoogun writes from Abuja.

T H I S D AY ˾ FRIDAY OCTOBER 28, 2022

POLITICS

EPISTLES of ANTHONY KILA

My Digital Life, Google’s Tinubu’s Health and the Rest of Us Africa Cloud and Cattle Anthony Kila writes about the need to make public Grazing Routes the health status of those aspiring to lead Nigeria at

Chido Nwangwu stresses the need for African this crucial period ear Readers leaders to develop the youth by making them Today’s epistle could have digitally empowered citizens. easily been titled “A Candi-

n Wednesday October 5, 2022, Google announced it will launch a cloud service specifically for the African continent and the infrastructure will be hosted in South Africa. The project, a part of their “Cloud region” plan will benefit individual and corporate users, developers and educational institutions across the African continent. According to Niral Patel, director of Google Cloud Africa, “Along with the cloud region, we are expanding our network through the Equiano subsea cable and building dedicated cloud sites in Johannesburg, Cape Town, Lagos and Nairobi. In doing so, we are building full-scale cloud capability for Africa.” . Google has indicated that Africa’s digital economy has the potential to grow to $180 billion by 2025. Its Olauda Equiano transcontinental cable connects Africa with Western Europe. I commend Google’s massive, catalytic investments in this area. Also, I commend Main One, and others. Simply, Google and the other technosuperpowers saw the future a long time ago while Nigeria are killed daily over who will control cattle grazing routes! Who did this to us? Still on the issue of the digital future, our future: “The best way to predict your future is to create it.” I like those timeless, wise words from Abraham Lincoln, the 16th President of the United States, serving from March 4, 1861 until his assassination on April 15, 1865. Consequently, those who fail to create their future will be subjected to a new form of colonization, technosubjugation! Inevitably, the two were bound to clash. The have. They did. They still do. One digital; the other analog. Of course, digital won! It’s this choice between relatively centralized, quasi-Democratic republics restrained by anti- human rights and anti- entrepreneurship codes versus the highways to the open society. Although there are critical and valid issues privacy and hyper-monopolization of information exchanges. In an open society, there is no hiding place for dictators and corrupt gangsters. It’s a race against time.

But the time and today’s world are digital. They belong to Apple . Google. Microsoft. Alibaba. Huawei. Facebook. AT&T. Amazon. Netflix. Bollywood. Nollywood. Uber. Burna boy. Afrobeats. Davido. Flavor. Nollytoons. Zoom..... Those companies and superstars are predicting the future by creating it today. Micro chip, the size of one third of a penny, has the power of 100 desktop computers! Today, the world is driven by knowledge-based economies; it is the competition of ideas. With crude oil’s continuing decline and the exponential rise in the strategic position of micro-chips, algorithms and wireless solutions, Nigeria and other African countries should run away from old paradigms and outdated approaches. With an iPhone or android, you are a photographer, reporter, a mini satellite station, broadcaster and documentarian. It truncated the corrupt import and export licensing issuing agencies. Why? It’s the new age of e-commerce. There is a new motto: Digitize or die! The analog world and digital world are, diametrically, opposed to each other, in form, substance and outcome. Since the gaining of political independence in the 1960s to date, the ancient captains of the analog world in Nigeria and most of the African countries continue to suffer under the crushing weight of their record of serial sectarianism, punitive incompetence and nepotism. They have left what I’ll characterize as mal-governance scars in the collective psyche of the people! They come not only with their iron fists but a philosophy and absurdist preference for command and control. Unfortunately for these tireless tyrants and counterfeiting democrats, no one can intimidate and suppress the free will and talents of a conscientized populace. I am a frontline voice for the building of freedom republics, truly democratic based societies driven by the ethos of open, interactive and free markets for productive governance. I am an advocate for the digitally empowered citizenry where there are millions of multi-nodal wi-fi xG free access! This will give the abundantly creative youth of Nigeria and the rest of Africa instant e-commerce access to a multitude of markets, across the world. Those digital infrastructure will expedite and optimize the building of a modern industrial state with the government responsible for the creation of the enabling environment for businesses and talents to flourish. The previous and current leaders of Nigeria offer(ed) very minimal support in terms of government backed initiatives and incentives for our young people to compete in this global arena. -Nwangwu is Founder of USAfrica multimedia networks since 1992 in Houston established the first A follow @Chido247

date’s Health and the Rest of Us”, that would have been a general title to introduce and discuss what we as citizens should know or care about some personal aspects of the lives of those planning to stand for elections in a bid to rule or serve the rest of us in any capacity, our rights as voters and citizens and indeed the duties of candidates and politicians. Should we as citizens and voters care about the health of politicians, if yes, why and if no, why?Events of the last days however makes it difficult to remain theoretical or even just general and lest we become guilty of what we accuse others of, it important we address a topical issue that affects all of us. Yes, I refer to the issues or shall we say speculations around the health of Asiwaju Bola Ahmed Tinubu, presidential candidate of the All Progressive Congress (APC), who is regarded by all objective observers and partisan participants as one of the possible winners of upcoming presidential election hence a likely next president of the federation. In the rather unlikely event that you missed it, here are some relevant facts: shortly after his victory at his party primaries, Asiwaju Bola Tinubu left the country for the UK where it was speculated that he went to rest or for treatment depending on who you are listening to. You can easily guess who is saying “to get some rest” and who is speculating that “he went for treatment”. Such divide is one of the collateral damages that partisan politics have reduced us to. Thanks to partisan politics, facts and logic do not seem sacred anymore in our society, people say things depending on who they support, it matters little if true, reasonable or just, what matters is to win the argument and to win the argument, normally sane, sound and reasonable people will resort to cheap sophism, believe lies and even justify and propagate the untenable. I am digressing, back to Asiwaju Bola Tinubu. The issue around the health of the APC presidential flagbearer gained more attention when the man did not turn up at the ceremony for signing of the famous pre-election peace accord conceived and coordinated by the National Peace Committee (NPC) co-led by former Head of State, General Abudulsami Abubakar and other eminent leaders of thoughts and faith. Instead, Asiwaju Bola Tinubu was represented at the event by APC vice presidential candidate, Alhaji Kashim Shettima. So far, Alhaji Kashim Shettima has been arguably the most discussed, most exposed and most engaged vice presidential candidate in the ongoing electoral process, besides the Muslim Muslim ticket palaver, the running mate was also the one that appeared at the NBA conference in Lagos. The tangible value of this impressive ceremony called peace accord can be debated but there are three facts that cannot be debated. One is that the ceremony has become a tradition if not an institution in the Nigerian democratic process, second fact is that all presidential candidates (at least the leading ones) find time to attend in person and they did so this year again, third fact is that with Tinubu’s absence at the ceremony, he has made history as the first presidential candidate not to attend the ceremony. Amid insinuations, suspicions, specula-

tions, accusations and denials, about the status of his health, candidacy and even his being alive, Asiwaju Bola Tinubu released a video of him working out in a bid to put an end to speculations and insinuations by his foes and to reassure his supporters and the general public. The move however has not really worked. Many argue that the video is not recent and that tells you the level of trust people have for leading figures in the society. Others have pointed out that the fact that the candidate has to prove that he is well is in fact proof that he is not so well. I think it is a good thing that Asiwaju Bola Tinubu has tried to show that he is well, I think it is a good thing because it shows that the candidate is not deaf to conversations and concerns in the land. Two crucial elements of effective leadership are the ability to understand the current need and mood of the steered and the ability to provide vision and solution that will meet needs and improve mood. It seems clear that Nigerians want someone who is hale and with enough stamina to deal with the many issues the country and people are facing. It is therefore legitimate to ask for proof from politicians seeking to govern that they are indeed fit to rule. The demand is not a new one, in our traditional societies, it is agreed that part of the minimum requirement for a monarch is that he is mentally and physically fit. Just as it was then so it is now, the ruler must not be frail in body or in mind. Ideally, if someone says “I am healthy” that should be the end of the story but such is not the case in the modern society wherein citizens live by checklists and proof of this and that. Just as offices ask the rest of us for proof of our date of birth, place of residence and proof of income, perhaps it is time the rest of us insist that politicians provide a proof of their good health. A clean bill of health issued by independent physicians that attests that the candidate is physically and mentally fit to carry out activities an elected is bound to carry out is not too much to ask for. Whilst at it, the statement of good health might as well disclose past ailments and possible ones. Is this an intrusion into the private life of person? Yes, it is but a person that wants to lead millions of the rest of us is not a private citizen minding his or her private business. -Kila is Centre Director at CIAPS Lagos. www.ciaps.org. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY • THURSDAY, OCTOBER 28, 2022

FOCUS

Glimpse into Makinde’s Pacesetting Roads, Aviation, Health and Educational Transformation Omititun 1.0 and Omititun 2.0 are not mere political gimmicks. They are daring and glaring glimpses into the pacesetting mode of Oyo State, says Governor Seyi Makinde as he leads the Nigerian Guild of Editors on inspection of aviation fuel facility, road, health, and education projects in the state. Bayo Akinloye reports

Governor Makinde (left) in company of President of NGE , Mustapha Isah and other Editors, inspecting headquarters of Amotekun security outﬁt in Ibadan, Oyo State… recently in politics to reshape Oyo State’s past dour narratives and chart a new course with a merger of tradition and modernity going into the future. He stressed that every kobo and naira from the state’s coffer is invaluable. Makinde points out that he does not believe in abandoned projects and does not play the partisan card when it comes to spurring the development of the state. In thoughts, ideals and actions, Makinde expresses determination to set the pace. “For us, if it’s Oyo State money, we will try to extract value from it. So, I will take you to projects that were started by Governor Akala between 2007 and 2011, a 12-kilometre stretch of road linking New Garage to around Apata. It was not touched for eight years when former Governor Abiola Ajimobi was governor,” explained the governor. For him, that was a challenge. Makinde stresses that he does not hesitate to rise to any challenge on behalf of the Oyo people. “But we have taken it up. About 10 kilometres of that road have been completed right now, and the importance of the road is two. One is that it will be the Newly constructed fuel depot at Ibadan Airport first circular road because once you are coming from Lagos and going to NNPC, you go straight on that shape if reelected. matter-of-factly. “It didn’t exist before we came road, and if you leave the Abeokuta-Ibadan Road, you Considered much younger and more vibrant in. It is a 78-km stretch of road linking Iseyin to can make a right turn, you get to Ring Road junction, than previous governors, Makinde understands the Ogbomoso axis of the state.” and at the right turn, you get to Challenge,” stated the need to transform a so-called ancient state, All the bridges stand sturdy, and the road itself the Oyo governor. without upsetting the applecart, into a society that is almost completed. “We still hope to commission As the bus ride continued, the governor wanted accommodates tradition and modernity. He feels the project in January,” added the governor. to show the guild more about what Oyo State had determined to move on to sustain the developments Apart from road construction, Makinde also become and what he had achieved for the people in already implemented. wants to leave a legacy in Oyo’s health sector. some four years. Right to shelter is a driving force of The Oyo governor illustrated his efforts at Health is wealth. his governance philosophy, and he is convinced he redefining the state with the Lere Adigun Housing “We will see a model PHC at Iseyin because could change the housing facility in Oyo for the better Estate, Basorun, Ibadan, and the Ode Oba Primary our target is to have one functional PHC in all in the interest of their overall well-being. Healthcare Centre in Iseyin, one of the 299, completed the 351 wards in the state. The idea is for people “Some of my colleagues have said Gwarimpa Housing primary healthcare centres in the state. not to go beyond a one-kilometre radius from Estate in Abuja is a model Estate built by the Federal As a successful businessman, Makinde wherever they are leaving to access primary health Government. But for me, I felt all the government demonstrates an understanding of the intricacy care facilities,” he further explained. housing estates, whether they were built during the of success and the path to lifelong development After a visit to Iseyin, with the guild left with time of Baba Awolowo or anyone else, most times and purposefulness of a state. He believes he brings an impression, the governor was itching to show ended up being a failure because they would start all that to bear in Oyo State. The Oyo governor them more. well; the government would maintain the roads and explained how his administration achieved “We will come back to Ibadan, and we will drainage,” Makinde noted. “But after some time, they “massive” success in reducing the infrastructure be able to show you a few of the infrastructure would become conduits for civil servants and political deficit in the state. we have been able to put together. We will go officeholders to exert their influence.” That is not farfetched, he revealed. towards the airport. The road is being dualised, With his ingenuity and shrewdness, he thinks of a “Some of the projects you will be seeing have and the airport itself is central to expanding our better way to make shelter an enjoyable haven and been carried out through (the) Alternative Project economy,” Makinde further explained to the guild. not a habitat to endure. Funding Approach (APFA), which has been able “I tell people that if you want to expand your “But we felt government can provide a conducive to sanitise the mode of delivery in the state. We economy and the airport only has one flight in environment. I can do the acquisition as a government, all know what the country is facing in terms of a day, it does not tell a good story.” but the infrastructure and maintenance must be resources, but we still have to carry on,” stated Makinde highlighted his goal for the airport private-driven. Once you do that and the project is the governor. as being straightforward and forward-looking. handed over to the private sector, and if the people There is more. “As a matter of fact, we believe aircraft should living in the estate really know what is good for them, “When we leave here,” he told the NGE. “We be landing and taking off every 30 minutes in the they will maintain it,” the Oyo governor reasoned. will have a stopover at a model primary school at airport if it must have an impact on the economy,” The approach has been effective, Makinde affirmed. Bodija. From there, we will go to the Amotekun said the governor. But there is a snag. “So, what we really did was put in place a land Headquarters because security is one of the major “Once, I had the opportunity of talking to one of swap deal. When we gave it out to the partner, it pillars of our accelerated development (Omituntun the top officials with Air Peace. They complained was N15 million per plot about one year and two 1.0). The Omituntun 2.0 is about sustainable that they could not carry a full passenger load to months ago, and now, it is about N50 million because development.” Ibadan because they had to take enough fuel to Lagosians are putting pressure on us. It has been He has reasons for Omituntun 2.0 as he eyes bring passengers and take them back to Abuja,” a successful model for us,” Makinde pointed out. reelection in 2023. One of them is continuity. Another the governor disclosed. He provides a solution. “Government is not spending any money to is consolidation. His main focus is close. “We have “So, we have been able to put an aviation fuel put in infrastructure or for maintenance,” the Oyo been able to put things in place, and we feel that storage and dispensing facility there. Once all of governor reassured. “With that model, we have once we take on the issue of sustainability when that is done, the only thing that will remain to been able to solve the problem of some people I finish my work here, others can take over,” he make the airport fully competitive is the extension having 10 to 15 plots just because they are the stated. of the runway from 2.7km to 3.3km,” Makinde ones allocating those plots. This is strictly a private The 65-km Moniya-Iseyin road signposts explained. “Once we are able to do that, then sector-driven process.” Makinde’s dreams and realities. As he guaranteed, we can do other possible things around there. Makinde says he wants to do more with the eagerness the road was without a single pothole. For this administration, the unique feature for to serve another four years in office as the governor “I can guarantee that you will not see a single us is that some of these projects were started by of Oyo State. As the 2023 governorship election pothole on that road as it is a standard for our state one of these individuals you are seeing up there approaches, the governor of Oyo State is banking on roads. We will also go to the Iseyin-Ogbomoso (former governors).” his developmental and political capital to return to road, which is a brand new one,” Makinde said Shrewd and systematic, Makinde says he is Agodi House come May 29, 2023.

75km Moniya – Iseyin Road constructed by Governor Seyi Makinde of Oyo State

ike a calm, steady-flowing body of water, Governor ‘Seyi Makinde is a brook coursing through the length and breadth of Oyo State. His eyes, Makinde admits, are on the accelerated and sustainable development of the state. The moniker of his administration is Omituntun (roughly translated to English means new water.) Makinde is new with ideas and in the manner of their execution. He is deliberate in decision-making and decisive in actions. His first term, which ends on May 29, 2023, the Oyo governor emphasises, has been largely characterised by Omituntun 1.0 (accelerated development). Ahead of his reelection bid, Makinde reveals he has changed gears to Omituntun 2.0, which is about sustainable development. Last Saturday, the Nigerian Guild Of Editors followed the footprints of the Oyo governor’s projects. Makinde did not hesitate to declare that his focus is to move the state from accelerated development to sustainable growth if reelected in 2023. Makinde stated that this vision lies in the Omituntun 2.0, as his administration has in the last three years focused on putting policies and projects that have not only helped in repositioning Oyo State but also lifted the people from poverty to prosperity. According to him, a few projects illustrate his unwavering passion for transforming the state: the Methodist Model School, Bodija, Ibadan, the headquarters of the Oyo State Security Network codenamed Amotekun, the 65-kilometre Moniya-Iseyin Road, 78-kilometre Iseyin-Fapote-Ogbomoso road, and the 12-kilometre ongoing Apata-Bembo-Jankata Road, Ibadan road. Others are the ongoing dualisation of the Airport Road in Ibadan and the 500,000-capacity aviation fuel storage facility undertaken by the state at the Ibadan Airport. “Let me formally welcome you to Ibadan, the Oyo State capital and the seat of government. As we go out, we will all be on the same bus and take a tour through the projects we have done and those ongoing,” with a hearty smile and a warm handshake, the Oyo governor welcomed the NGE, led by its president, Mustapha Isa, at the Governor’s Office. “I will tell you the vision behind some of the things that you would see. But feel free to challenge us with any of the ideas we are putting forward.” Makinde’s eyes beamed as he took the guild around the facilities and projects on a tour of inspection. While addressing members of the NGE, when he hosted them at the Executive Chambers of the Governor’s Office, Secretariat, Agodi, Ibadan, the Oyo governor said he would leave the state in a better

T H I S D AY ˾ FRIDAY, OCTOBER 28, 2022

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Airfares May Rise to N200,000 for One-Hour Flight in December

Chinedu Eze There is no sign that airfares in domestic flights may come down as many hoped when the base far rose to N50, 000 for one hour flight about seven months ago; rather, the base fare has risen to N70, 000. Booking a flight for middle of November from different domestic airline sites last week indicated that the minimum fares for one-hour flight was N74, 000. This, industry experts said, would rise as air transport enters the last high season of the year, which would, predictably end in the third week of January next year. Despite the entrance of four new airlines into the domestic market after COVID-19 lockdown, the airfares

remain untamed. The new entrants are; Green Africa, United Nigeria Airlines, Valuejet and Rano Air, which is yet to start operation. Industry stakeholders said that the entrance of these airlines did not make much impact because they do not have many aircraft in their fleet. Also, there was significant reduction of aircraft seats, as many that went for maintenance overseas have not all returned due to paucity of forex. So existing airlines do not have many of their aircraft in operation. Christmas season is the biggest season for Nigerian airlines and even during normal times when the value of the naira had not crashed and dollars very scarce, fares increase by

over 50 per cent during the Yuletide. But now, the Chief Executive Officer of Aero Contractors, Captain Ado Sanusi, said that the fares might more than double, but expressed hope that Aero, which would return to the market soon after it suspended its operation, would help to control the fares. THISDAY learnt that Aero may bring in about four aircraft into the market and this may increase to six by December, as it plans to bring down the soaring fares. “The fares will increase, no doubt, but when we come in, we shall strive to stabilize the fare, just some little reduction,” Sanusi said. In May this year, it was projected that fares might rise to N100, 000 but depending on destination, when

the traveller purchased ticket and demand, some routes now go for over N100, 000; that return tickets go for about N220, 000 to N240, 000. Spokesman of Airline Operators of Nigeria (AON) and Chairman/CEO of United Nigeria Airlines, Dr Obiora Okonkwo, state in May, “Obviously, the rise in fares to N100, 000 for one hour flight is inevitable. I can tell you that all the airline operators, in the last three months, have been losing money, a huge amount of money. There is too much stress on the operational fronts for them to break even. “Even if the aviation fuel is made available, there must be a review to reflect the minimal operational cost. We are offering patriotic services to the nation and understand the

essential part of it. We are part of this economic development process in Nigeria but it is coming at a very huge sacrifice.” “Nothing less than N100, 000, between N100, 000 and N120, 000 base price, even with Jet A1 fuel at N400 – N500. That is what it is. In the industry, it is expected that you will gain some here and lose some here but the biggest challenge indigenous operators are having is that the cost of everything is high. You source money from the commercial bank rates. You source money from the black market. No moratorium for your loans and the banks and AMCON are quick to jump on you,” he had said. Industry analyst and the publicity secretary of Aviation Round Table

(ART), Olu Ohunayo expressed the hope that the fares may eventually come down, noting that cost of aviation fuel is no more going up as predicted. “We need to commend domestic airlines for what they have been doing and how they have been contributing to the economic development of the country. Four new airlines joined the market since after COVID-19, so compared to other countries, Nigeria is doing well. These new airlines have come with innovations. They are not only going to the trunk routes, but also to the other routes as well,” he said. Ohunayo said that what Nigeria needs now is not national carrier, Continued on page 24

LFZ Boss: Port Based Ecosystem Would Advance Nigeria’s Economic Prosperity Oluchi Chibuzor The Chief Executive Officer of Lagos Free Zone, Dinesh Rathi, has called on government at both state and federal levels to continue to support the private sector in creating a port based ecosystem that encourages the diversity

of businesses around it as this would help advance the economic prosperity of not just Nigeria but the entire West-African region. Rathi made these remarks while speaking during a breakout session themed, “Confirming Lagos as West Africa’s Leading Trade & Commercial Hub,” at the 2023

Ehingbeti Lagos Economic Summit held in Lagos. He said with Nigeria already signed on to several trade & investment treaties, such as the Africa Growth Opportunity Act, Lagos stands a real chance of becoming the manufacturing hub of Africa.

He noted that the support of the Lagos State Government, particularly in the area of security, together with a combination of factors driven by private sector in infrastructure, power, e-commerce & logistics space, have been primarily responsible for driving trade and commerce in the state. He stressed the need for

government to provide road infrastructure and develop barging facilities to help to decongest existing and upcoming ports. “There is no reason why cargo that is ultimately consumed in Nigeria should be diverted to Lome, Cotonou. The potential of Nigerian ports and coastline is not fully exploited. Today,

Nigerian ports are handling about 1.1 million containers as against ports in Egypt or South Africa, which handle 5 million containers, “he said. In her submission, the SecretaryGeneral of the African Shipowners Association, Mrs Funmilayo Continued on page 24

M A R K E T D ATA A S AT T H U R S D AY, O C T O B E R 2 7 , 2 0 2 2 BILLS

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

Yield

100.09

14.10

98.81

14.11

95.89

14.10

106.13

14.35

98.93

14.26

Change Updated Time (%) 21, 0.00 October 2022 21, 0.36 October 2022 21, 0.00 October 2022 21, 0.00 October 2022 21, 0.00 October 2022

MATURITY NTB 10Nov-22 NTB 26-Jan23 NTB 9-Feb23 NTB 9-Mar23 NTB 27-Apr23

Discount

Yield

5.91

5.93

10.85

11.17

8.32

8.53

8.96

9.27

10.07

10.62

CPS

Change Updated Time (%) October 21, 0.00 2022 October 21, -0.01 2022 October 21, -0.01 2022 October 21, 0.00 2022 October 21, 0.00 2022

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

Discount Yield 9.16

9.17

8.30

8.31

12.74 12.84 15.94 17.03 20.18 22.16

Change Updated Time (%) October 21, 0.00 2022 October 21, 0.00 2022 October 21, 0.00 2022 October 21, 0.03 2022 October 21, 0.01 2022

OTC F X F U T U R E S CONTRACT Current Updated Time TENOR Contract Rate ($/₦) (MONTH) October 21, NGUS OCT 26 1 449.69 2022 2022 October 21, NGUS NOV 30 451.43 2 2022 2022 NGUS DEC 28 453.18 October 21, 3 2022 2022 NGUS JAN 25 454.92 October 21, 4 2023 2022 NGUS FEB 22 456.67 October 21, 5 2023 2022

FRIDAY, OCTOBER 28, 2022 ˾ T H I S D AY

BUSINESSWORLD

AIR WATCH

NiMet Highlight Ability to Meet Meteorological Needs of Stakeholders Chinedu Eze In the efforts to strengthen its push to deliver the provisions of the Nigerian Local Content Development and Enforcement Act, the Nigerian Meteorological Agency (NiMet) has expressed plan to drastically reduce the use of Meteorological Services from private service providers by its stakeholders mainly in the marine and oil and gas sector. Director General of the Agency, Professor Mansur Bako Matazu made this known in Lagos at a 2-Day NEEDS Assessment Workshop for Stakeholders in the Marine and Oil and Gas Sector where he said stakeholders would be enlightened of NiMet’s activities, relate with them and try to get what their needs are

and provide them with assists to develop their sector. Professor Matazu who was represented by Director, Weather Forecasting Services, Mr. Mailadi Yusuf while speaking on the services NiMet plans to put out said, ”Well, these services are basically meteorological marine services and presently most of the services are provided by foreign service providers and private providers, not necessarily foreign, some are Nigerian and we don’t know them but we know the service going on in those sectors someone is providing those services. On services being rendered, he highlighted Marine weather service for shipping companies that come into Nigeria waters saying that NiMet can easily

handle that. He said, ”Our clarion call to you is to understand what we do, and how we do it and assist us in doing it better in order to serve you more efficiently and improve the livelihoods and socio-economic prosperity of our dear nation, Nigeria.” Speaking earlier in his welcome address, Professor Matazu said that the agency (NiMet) understands the growing needs and opportunities within the maritime sector stressing that as an agency, it has also grown in competencies, human and infrastructural development to meet these needs and explore the opportunities for the growth of the industry and improvement of the socio-economic development of the nation.

A I R WATCH Nigeria’s Dilemma over UAE

SAHCO Wins Best Ground Handling Company in Africa Award Skyway Aviation Handling Company PLC (SAHCO) has won the best Ground Handling Company Award in Africa at the Aviators Africa Conference and Tower Awards 2022, held at the Protea Wanderers Hotel in Johannesburg, South Africa. The award was presented at the fourth edition of the Aviators Africa Conference and Tower Awards, which was well attended by delegates and airline executives from across the world. Furthermore, the event was created to celebrate excellence and sustainability in African Aviation and to recognize brands and change makers that has contributed immensely to the development of African Aviation. The three-day event which

was themed; ‘Sustainability in African Aviation’ was focused on the challenges faced by the Aviation and tourism industry and recommended possible recovery paths to the challenges. At the event, the founder and CEO of Aviators Africa Conference and Tower Awards, Toni Ukachukwu said the conference was aimed at pioneering sustainability initiatives in the African Aviation eco-system whilst connecting it with tourism. The award, which was received by the Managing Director/CEO of SAHCO, Mr. Basil Agboarumi said it was “a long time coming” and when he saw the nomination list of the Ground Handling Companies of high repute, he was proud to see SAHCO

nominated alongside National Aviation Service (NAS), Swiss Port and Kenya Ground Handling Company to which SAHCO won with a landslide victory. Agboarumi said SAHCO, which is a Public Liability Company, keeps raising the bar in the Aviation Ground Handling industry by building and maintaining a fleet of ultra-modern ground handling equipment that are fitted with the latest technology innovations. SAHCO is also proud to consist of well-trained customer-centric staff with presence in all the commercially operated airports of Nigeria and ultra- modern warehouses with massive cold rooms and freezers.

Air Peace Splashes Free Tickets on Customers Nigeria largest carrier, Air Peace marked its 8th anniversary and gave its customers and frequent flyers free flight tickets. The airline’s stations nationwide were decorated to reflect the celebrations and it has initiated a couple of social media activities to reward lucky customers with free flight tickets. The Spokesperson of Air Peace, Stanley Olisa, expressed delight that the airline was eight years stronger and added that in less than a decade, it has created massive impact in Nigeria and by extension, West African aviation industry. “We are very happy to be celebrating eight years of providing connectivity for Nigerians and

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

abundantly thankful to them for their support and patronage since inception. We could not have come this far without you. “We started with a vision to seamlessly interconnect cities and a future-proof blueprint to achieve that vision, and we are on track. “From starting with seven aircraft

exactly 8 years ago, we have grown to become a leader in the West African markets, easing the burden of air travel with the provision of multiple network options for the flying public while also contributing immensely to the growth of the economies where we operate”, Olisa said.

ADVAN Renames Marketing Awards, Adds 6 New Categories In a bid to cover the rest of Africa and position Advertisers Association of Nigeria Awards as a continental award for marketing practitioners and organisations across the continent, the Advertisers Association of Nigeria has rechristened the ADVAN Awards for Marketing Excellence as ADVAN African Awards for Marketing Excellence In August, ADVAN had announced the call for entry for the 11th edition of the ADVAN African Awards for Marketing Excellence, which opened Monday 29th August, 2022. While speaking on the Awards, Chairperson of the Awards Planning committee, Mrs. Bolanle KehindeLawal, Marketing Director Unilever Plc said, “The ADVAN Awards, which is the most prestigious and respected awards in the Nigerian and African marketing community, provides the opportunity for organisations across Africa to gain competitive advantage, by having their marketing projects, initiatives, contributions as well as their products and services recognized.” The Awards, according to Kehinde-Lawal, “Provides the ultimate platform for improving brand awareness, loyalty and customer retention by increasing the respective recipients’ prestige.

The ADVAN Awards winners are acknowledged as industry leaders and named the elite in their industry. This year ADVAN will be hosting the 11th edition of the awards ceremony.” This year is expected to see over 200 brands competing in the 16 categories of the ADVAN African Awards for Marketing Excellence. Some of the new categories for the11th edition of the awards include Excellence in Corporate Branding and Reputation Management, Excellence in Customer Experience, Outstanding Marketing /Communication Professional of the Year, Future Leader of Marketing -Junior Managers, Marketing Team of the Year and the Judges Choice Award As part of Activities leading up to the Awards ADVAN will host an SME Growth Summit tagged ADVAN SME Business and Marketing Summit- The program is geared at supporting SMES in developing best practice marketing and brand building strategies for business and economic growth The sectoral group is the only trade association in Nigeria that represents the collective interests of ‘Advertisers’ (Multinational and Local organizations that engage the services of advertising and media agencies to promote their products and services).

Chinedu Eze There are two issues the United Arab Emirates (UAE) has against Nigeria. One, Nigeria has been unable to provide it dollars so that Emirates Airlines can repatriate the revenues it earned from its operations in Nigeria and two; records indicate that many Nigerians who travel to the Middle East nation engage in crimes. The chairperson of the Nigerians in Diaspora Commission (NiDCOM), Mrs. Abike Dabiri-Erewa on Wednesday confirmed the allegation of crime on Twitter when she responded to @segalink who observed, “Told them this and they refused to listen. Predicted the current UAE policy earlier after the disgraceful trajectory of most of our people on foreign soil. They don’t like taking responsibility and would always want to blame someone else for their personal failings.” Dabiri-Erewa in her verified Twitter account, @abikedabiri, responded, “Unfortunately, the sad reality is that our crime rate over there is one of the highest!” Reports also indicate that Nigerian rich have made huge investment, especially in real estate in UAE, so Nigerians will feel it more if UAE decides to permanently shut down diplomatic relations with Nigeria. In the last two years Nigeria and UAE had engaged in dogged diplomatic impasse, which climaxed in the suspension of Emirates flights to Nigeria. This was followed by the inability of Nigeria to provide dollars to Emirates and other foreign carriers to repatriate their earnings in Nigeria. In the area of crime, UAE has forced Nigerians out of the country, prompting the federal government at different times to send airplanes to evacuate the citizens back to the country. The acme of the criminal acts was when eight Nigerians were sentenced to death in Sharjah, United Arab Emirates for a string of robberies at money exchanges and cash machines (ATMs) across the emirate in December 2016. This was followed by the action of some Nigerians believed to be members of Eiye and Aiye cult groups, armed with cutlasses and fighting on the streets of Ajman, Dubai, United Arab Emirates. This also prompted UAE authorities to impose visa restrictions on Nigerians after the cult clashes. The Middle East nation decided to issue visa to restrict the age of Nigerians that would be given visa; that anyone travelling alone to UAE must be 40 years and above but those with family could be from 36 years and above. UAE authorities started encouraging family tourism; that it is easier for a family to obtain visa and travel to any destination in UAE. Some Nigerians, reports indicated, began to circumvent this regulation by obtaining visa for family visit and travelling alone and in reaction, UAE would detain such passengers on arrival. It has been observed, however, that instead of following the right diplomatic channels, UAE adopted the style of using travel agents to enforce travel ban against Nigerians, a policy those in the diplomatic circles said underscores the contempt they have for Nigeria. Last week it was Destination Management Companies (DMCs) licenced by UAE authorities to issue electronic visas to travellers into the country that disclosed that visa to Nigerians had been

banned. Not so sure of what UAE had done, President of the National Association of Nigeria Travel Agencies (NANTA), Susan Akporiaye, told THISDAY that although DMCs notified the travel agents that UAE was no more issuing visas to Nigerians, no document from UAE or its immigration officials had confirmed the stoppage of visa issuance. “Our partners who are travel agents in UAE sent us this information, nothing has come officially from UAE and people are still travelling,” she said. Reacting to the ban, the Minister of Aviation, Senator Hadi Sirika, obviously erupted in anger, saying, “We are not afraid to be shut. It would make us do much better. It would make our schools and hospitals do better.” Sirika said on Monday that there were no grounds for the UAE to threaten Nigeria with the visa ban despite Nigeria failing to repatriate $700 million trapped funds of foreign airlines. “If you disagree, you are supposed to come to us, and we sit down, and we negotiate and give you what we have in the hope that we finish paying. What I have a problem with are the threats,” he said. He also observed, “Every country would threaten Nigeria that they would not fly to Nigeria again, that they would not give Nigeria visa. They would not do operations; they would shut Lagos and Abuja. Please, countries have been shut completely, and they did well. We are not afraid to be shut. It would make us do much better. It would make our schools and hospitals do better because necessity is the mother of invention. “We would begin to go to our own hospitals and our schools. When you stop coming to Nigeria, it does not make any sense. We are not threatened. When you stopped operating to Nigeria, a 200 million market, which you need, you do not have a case. And I have a problem with that. I have been doing everything to ensure this is paid. But you can only give what you have,” the Minister said. In the area of crime, the immediate past President of NANTA, and the Group Managing Director, Finchglow Holdings, Mr. Bankole Bernard, also said that prostitutes and fraudsters known as Yahoo Yahoo boys have invaded Dubai and UAE authorities are doing everything possible to keep them away from the country, hence the visa restrictions. “These fraudsters, known as Yahoo, Yahoo boys have found out that doing their illicit business in Nigeria has become difficult because when they send you message and you look at their IP address (that is Internet Protocol, which identifies a device on the Internet), they will know you are writing from Nigeria, so they will ignore the letter. “So, some of these fraudsters relocated to Dubai and write letters with UAE IP address, which is bereft of suspicion. So once it is Dubai you are writing from, the recipient will respond. There are a lot of Nigerian prostitutes in Dubai. This is why UAE does not want to give Nigerians under 40 years visas and they also preferred that you come with your family. UAE prisons are full with Nigerians, not just Igbos or Yorubas, Nigerians from all tribes. So they don’t want these criminal activities to continue in their country. So, until we, as a nation, begins to reposition ourselves, Nigerian citizens will continue to have this kind of problems,” Bernard said.

T H I S D AY ˾ FRIDAY, OCTOBER 28, 2022

BUSINESSWORLD

INTERVIEW

Awe: NGX Regco Continuously Encourage Companies to Implement Listing Guidelines The CEO of NGX RegCo, Ms. Tinuade Awe in this interview with Kayode Tokede speaks on her first 18 months in office, stating that the regulating subsidiary of Nigerian Exchange Group has continuously encouraged companies to implement listing guidelines post-demutualisation. She also talked about how the NGX RegCo together with NGX continue to play a leading role in developing the regulation for the development of Nigeria’s green bond market and other sustainable financial products that address environmental and social challenges affecting Nigeria Since assuming ofﬁce in 2021 as the ﬁrst CEO of NGX RegCo, after the successful demutualisation of The Nigerian Stock Exchange, walk us through your responsibilitie and factors you would say contributed to your successful leadership. hat is a loaded question but I will try to keep my response as succinct as possible. As the CEO of NGX RegCo, I am primarily responsible for implementing the Board approved strategy of the company; budget formulation, planning and implementation; maintaining a good relationship between the Board and Executive Management; and general governance of the operational activities of NGX RegCo. I often refer to myself as the chief brand ambassador of NGX RegCo, and in summary, a typical workday consists of meetings, brainstorming sessions with my team, attending to matters referred to me for decision, and more meetings! To be a successful leader, one must have a formidable support system, the first being the team one is leading. I can say without a doubt that I have a very competent, resilient and dynamic team that has worked and continues working tirelessly with me at NGX RegCo to ensure we achieve our objectives. Secondly, my family has been supportive, always cheering me on and ever ready to provide the necessary domestic support on the home front. This enables me to maintain a proper schedule, devote the required level of attention to my work responsibilities, while also ensuring that I can spend quality time with my family and practice self-care. Bringing it home to me as a person, one cannot negate the importance of professional competence and imbibing useful character traits. At the foundational to middle management levels of my career working at the United Nations in The Hague and Geneva and prestigious law firms in Lagos and New York, I learnt the importance of: adequate preparation; customer centricity; and breaking down unnecessary hierarchical barriers in the workplace to enable teams flourish. Moving on to when I became part of the executive management at The Nigerian Stock Exchange (The NSE), I had the opportunity to observe different traits from other members of the executive and different Board members over a period and to imbibe them for my personal use. These include reading trends, providing direction and inspiring those around me to achieve lofty goals. I have tried to imbibe and live by all these traits, and I believe they have proven invaluable in my first eighteen months as the CEO of NGX RegCo.

There is no doubt that the advent of ESG reporting has brought about sustainable development across countries of the world. What strategy is NGX RegCo implementing to encourage its regulated entities on NGX adopt best practices in ESG reporting, in line with global trends? While operating as the Regulation Division of The NSE prior to the demutualization, NGX RegCo worked with others teams at The NSE on the development of the NGX Sustainability Disclosure Guidelines, which became effective in January 2019. These Guidelines provide companies with a stepby-step approach to integrating sustainability in an organisation’s activities and operations and provide guidance on best practice sustainability reporting that comply with global standards including the Global Reporting Initiative (GRI). Post-demutualization, NGX RegCo continues to encourage listed companies to implement the provisions in the Guidelines by the listed companies. In addition, NGX RegCo together with NGX continue to play a leading role in developing the regulation for the development of Nigeria’s green bond market and other sustainable financial products that address environmental and social challenges affecting Nigeria. Further, our commitment to address climate change has inspired us to commence the development of the NGX Climate Disclosure Guidelines a dedicated set of guidelines for listed companies on global best practice in climate disclosure in line with the recommendations of the Task Force for Climate Related Financial Disclosure (TCFD) framework) leveraging the Action Plan on how stock exchanges can integrate the TCFD recommendations issued by the Sustainable Stock Exchanges Initiative (SSEI) in 2021. We plan to publish our zero draft in a few months after which we will initiate a public consultation for feedback. Lastly, and perhaps the most important, we try to lead by example by imbibing the ESG considerations internally within our organization, in our recruitment policies, the use of resources, and in our engagement with our community.

Awe NGX RegCo is an independent regulatory company registered by the Securities Exchange Commission (SEC) as a self-regulatory organization to promote a transparent and fair market. How often does NGX RegCo develop market rules, practices and policies to foster market transparency and accountability? We do not have a fixed frequency or period for developing “rules and regulations” (which is the umbrella description we often use). The rules and regulations we develop are often pro-active (i.e., when we evaluate the trends and potential occurrences in the market) and sometimes reactive (to forestall the reoccurrence of certain activities or block identified loopholes). These are all in a bid to ensure that market participants carry out their activities in a compliance with applicable laws and regulatory policies; with transparency and integrity, due regard for the protection of investors vis-avis long-term sustainability of the regulated entities; and in a manner that mitigates systemic risk. Our comprehensive rule making process encompasses drafting and interpretation, and is managed by a dedicated team within our Rules and Adjudication Department. Globally, there has been a recent trend in the introduction of mandatory ESG reporting by financial regulators. In your opinion, how effective is this approach towards achieving increased ESG disclosures from companies? This trend may not be unrelated to the growing ESG expectations of investors, customers and governments, which have been taking root for a long time. These regulatory frameworks are laudable because their broad objective is to ensure companies are incorporating ESG-related risks and opportunities in their operations, adopting an inclusive approach to stakeholder management, and contributing to global development agendas such as the United Nations (UN) Sustainable Development Goals (SDGs). With adequate collaboration, engagement, support and enforcement regimes, mandatory ESG reporting disclosures would be quite effective in the efforts to not only increase ESG disclosures from companies, but also to ensure that the companies also enshrine ESG practices within their operations. The practice of ESG-related initiatives has become a key criterion for attracting local and foreign investors in Nigeria. What are the main challenges associated with ESG reporting in Nigeria and how can these challenges be resolved? The main challenge is that ESG-related issues

are not yet prioritized by many stakeholders, perhaps because they are yet to realise the value in ESG reporting. While there is significant progress in terms of awareness and action, there is room for improvement across board. The rapidly evolving global ESG landscape requires a deliberate partnership between all Nigerian public and private sector stakeholders. Private and Public Sector companies must embrace their societal responsibility by publishing ESG reports that disclose their ESG performance and strategy for ESG-related risks and opportunities. Initiatives that the Nigerian government can adopt include introducing mandatory ESG obligations and strengthening the Financial Reporting Council’s role as the principal ESG regulator. Recent global ESG trends indicate that there will be an increase in mandatory reporting and Nigeria needs to catch up with this trend. Regulations in the climate change space are a good reference in this trend of increasingly mandatory ESG regulations. For example, a growing number of countries have issued mandatory regulations based on the TCFD framework including New Zealand and Singapore in 2021 whilst other countries such as the UK are in the process (climate change reporting will become mandatory in the UK by 2025). Ongoing efforts are also being made by global regulators, such as the United States (US) Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), to gain feedback from market participants and stakeholders on regulatory proposals that will impact the identification and assessment of climate-related risks and opportunities. Recent global ESG trends indicate that there will be an increase in mandatory reporting and Nigeria needs to catch up with this trend. In the sustainability reporting space, the EU Proposal to replace the existing Non-Financial Reporting Directive (NFRD) with the Corporate Sustainability Reporting Directive (CSRD) provides another indicator for mandatory sustainability reporting. The CSRD requires all large and listed EU companies to introduce mandatory sustainability reporting standards and Companies will need to report in line with mandatory EU sustainability reporting standards and provide external assurance of sustainability information. The Nigerian government can adopt this approach by ensuring our current legal and regulatory frameworks are mandatory for companies to report on. Global standard setters, such as the recently established International Sustainability Standards Board (ISSB), are already making efforts to develop a comprehensive global baseline of sustainability-related disclosure standards that provide investors and other capital market participants with information about companies’ sustainability-related risks and opportunities to help them make informed decisions. Nigeria should prepare for this development by proactively creating a baseline for national ESG-related frameworks. Furthermore, the FRC should be responsible for monitoring and evaluating the performance of companies based on the country’s ESG-related frameworks and issuing sanctions such as fines, revocation of permits/licenses, forfeiture of assets, etc. for non-complying companies. The activities of the FRC in this regard can be strengthened by way of collaboration with sectorial regulators, and backed by emphatic statements and actions from policymakers at all levels of government. This approach would be beneficial towards ensuring private and public companies are complying with the best global and national ESG-related frameworks. In addition, it would nudge companies operating in Nigeria to regularly conduct compliance audits and develop a comprehensive compliance matrix to keep track of mandatory ESG practice requirements. In conclusion, Nigeria can achieve exceptional progress in its ESG journey if all stakeholders deliberately partner toward fulfilling ESG frameworks and obligations which is key to improving the country’s ESG performance and reputation. The history of ESG can be traced as far back as the 1960s and the ﬁrst-ever ESGrelated issue mentioned in the 2006 United Nations’ Principles for Responsible Investment

(PRI) report. Are there any important trends in ESG reporting in Nigeria’s capital market worthy of note? If so, can you please share? Regulators in Nigeria have been prioritising ESG issues and reporting as evinced by the ESG legal and regulatory frameworks implemented so far. Flowing from the Nigerian Sustainable Finance Principles (NSFPs) issued by the Financial Services Regulation Coordinating Committee (FSRCC), the Securities and Exchange Commission (SEC) in April 2021 issued “Guidelines on Sustainable Financial Principles for the Nigerian Capital Market”. As a complement to the existing requirements of the Nigerian Code of Corporate Governance (NCCG) 2018, which contains twenty-eight (28) broad corporate governance and sustainability principles with recommended practices under each principle, these guidelines make key aspects of the NSFPs applicable to other institutions outside the financial services sector as long as they are public companies. The NCCG 2018 explains in Principle 26 that paying adequate attention to sustainability issues ensures successful long-term business performance and projects a company as a responsible corporate citizen contributing to economic development. Also, it recommends in Principle 28 that companies should include – in their annual reports – highlights of sustainability policies and programmes covering certain social issues including ESG initiatives. Further to this, the SEC’s guidelines places, among other things, a sustainability reporting obligation on public companies as part of their disclosures guidelines. With this, we expect to see an uptick in ESG compliance for companies outside the financial services industry, and ESG as a major factor for successful public capital raising in Nigeria. Despite lacking legal precedents, digital assets are gradually gaining momentum across various countries of the world. What is the outlook for the regulation of digital assets globally? Without a doubt, more countries will develop and implement regulatory frameworks to regulate digital assets. This will either be: within the confines of existing laws (which may prove restrictive); by amending existing laws; and/or by enacting new laws to effectively regulate digital assets. Just by the very nature of digital assets, I envisage that the related regulatory processes would cut across multiple sectorial regulators. Using Nigeria as an example, the SEC has made many efforts towards the regulation of the digital assets space, which most recently culminated in the SEC New Rules on the Issuance, Offering Platforms and Custody of Digital Assets. In February 2021, the SEC informed the public that it had commenced engagements with the banking sector regulator, the Central Bank of Nigeria (CBN), and had agreed to work together to further analyse, and better understand the identified risks of digital assets. Subsequently, in May 2022, the SEC released its Rules on the Issuance, Offering Platforms and Custody of Digital Assets. This represents the current framework regulating investments in digital assets/virtual assets in Nigeria. The new Rules for Digital Assets seek to regulate all forms of digital assets/virtual assets such as cryptocurrency, non-fungible tokens (NFTs) and other forms of digital assets, including trading in those assets. Thus, with SEC’s recognition of digital assets/virtual in Nigeria, it is hoped that the CBN may take the same route to recognize digital assets and provide a regulatory framework to allow banks facilitate cryptocurrency transactions. With the decentralized and transparent features that blockchain technology presents, there is a perceived indication that digital assets are here to stay. How can regulators ensure that investors are protected? To ensure investors protection, six key considerations are non-negotiable. The first is capacity development, both for the regulators and the operators, to ensure both parties sufficiently understand the process(es), market(s), and securities (s). Secondly, legally and operationally enforceable regulatory frameworks have to be developed and implemented. Thirdly, adoption of a collaborative style of regulation hinged on substantial engagement with the operators to maintain an open line of communication. Fourth, is the establishment of adequate Anti-Money Laundering/ Combating the Financing of Terrorism (AML/CFT) processes. Fifth, incorporating solid market surveillance practices, and last but certainly not the least, extensive investment in efficient investor education programs. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

FRIDAY, OCTOBER 28, 2022 ˾ T H I S D AY

BUSINESSWORLD

AVIATION

Why Criticism over National Carrier Persists Nigerians looked up to having a national carrier as a way to counter the dominance of country’s international routes by foreign airlines. However, industry stakeholders are miffed because of the ownership structure of the new carrier. Chinedu Eze writes that government cannot wish these criticisms away.

ince the federal government confirmed THISDAY’s exclusive report that it had selected Ethiopian Airlines as its core investor/ technical partner in September, barrage of criticisms from industry stakeholders and other Nigerians have followed the decision to choose a foreign airline. This is because the federal government gave Ethiopian Airlines 49 per cent of the stakes. Many of the critics of government’s decision said that with such controlling share domiciled in a foreign company, it means that Nigeria Air is largely owned by Ethiopian Airlines. This is given strength when reports indicated that the East African carrier and the most profitable airline in Africa, listed Nigeria Air as one of its subsidiaries. Some other Nigerians who frowned at the partnership also argued that Nigeria has come of age to grow its own national carrier without foreign assistant, insisting that if government gives support to domestic airlines like Air Peace, Arik Air and others, they could grow to become very strong flag carriers and carry out the duties of national carrier, which some of them have been doing for the federal government.

DOMINANCE

Also, there are fears that establishing national carrier as presently constituted, the federal government may unwittingly be eclipsing Nigerian airlines, which have given thousands of Nigerians jobs and have contributed immensely in the economic development of the country. The fear that government may want to use the national carrier to drown domestic airlines became apparent; that THISDAY in 2018 reported that investors in the industry were apprehensive about government’s plan to establish a national carrier. The investors had insisted that an airline with government input and support would be given more advantages over the exiting carriers that the operating environment would become uncompetitive. “Industry analysts say the fear may not be unfounded because there is no guarantee that government would provide level playing ground for both the airlines owned by these entrepreneurs and the one that would be established by the federal government, despite the promises of equal opportunities. “That fear became exacerbated when these operators noticed that aviation agencies chief operating officers have been included in the committee that would spearhead the actualisation of the new national airline. This has given rise to the question: after giving this new airline a head start, won’t these government agencies also give it undue privileges at the expense of already existing airlines owned by private investors?” The above sentiments have been confirmed by the now birthed Nigeria Air, which has already been given special operating facilities at the nation’s busiest airports, the Murtala Muhammed International Airport, Lagos and the Nnamdi Azikiwe International Airport, Abuja. Stakeholders have excoriated the federal government and alleged that it is short on details, noting that it did not explain the ownership arrangement, giving details about who owns what, as many Nigerians said that 5 per cent stakes by the federal government is too small when it is obvious it is midwifing the airlines, including the funding.

DOMINEERING ADVANTAGE

Many Nigerians who criticised the partnership between federal government and Ethiopian Airlines and frowned at the partnership arrangement and the tardiness of this arrangement, not particularly against the East African carrier, which has been operating to Nigeria for over 65 years. At a webinar organized recently by Avaero Capitals Partners with the theme: ‘Nigeria Air-The Solution to Nigeria’s Aviation Problems,’ the CEO of Top Brass Aviation Limited and former Managing Director of the Nigerian Airspace Management Agency (NAMA), Captain Roland Iyayi, noted that the entire process of selecting a strategic investor for the Nigeria Air and all issues surrounding the carrier has been shrouded in secrecy.

He observed that certain individuals are setting up an airline using government as a face and this must be stopped before it is too late. He remarked that although it has been agreed that the country needs a national carrier to reciprocate all Bilateral Air Service Agreements BASAs) routes but the manner and the process adopted thus far is wrong. “This is an airline being set up using government as a face but owed by private individuals that is my contention and I think on that basis, it should be stopped and a more transparent process should be put in place because there is a need to reciprocate all our Bilateral Services Agreements, and Multilateral Agreements in different countries but it should be done in a way that gives the benefits of commonwealth to all and not to a few”. Iyayi also noted that having a partner is not bad but certainly not a competitor that already has a stronger footing in the African market than Nigeria, remarking that Ethiopia has always eyed the Nigerian market with the many attempts made in the past to have a strong stake in it, citing the Ethiopian Airlines approach to Air Peace for a partnership and being a clog in the will of progress when the management of the airline allegedly blocked Arik Air from operating into Ethiopia. “Ethiopia will never allow a Nigerian carrier to come to Ethiopia to compete. They are not stupid; they know what they are coming to do and they know exactly what they want. And for the records, Ethiopian approached Air Peace to have a footprint in the domestic market in Nigeria, such that they were willing to pay Air Peace royalties, Ethiopian tried the same thing in 2018 with Ghanaian Authority and they were thrown out. So the point is, if Ethiopia with all the antecedents in 2017 they blocked Arik Air from flying into Ethiopia, they did the same thing again to Air Peace in recent times so; if they are doing all of this to protect their own market and for us to now say come into our market with unfettered access, I believe this is the worst thing that can happen to the Nigerian aviation industry. “I believe the process till date is not transparent, it is shrouded in secrecy all through and the socalled Nigerian investors MRS and SAHCO are not really investors, they are just names presented by the Government to say we have other people, Sovereign Wealth Fund, was supposed to be part of this as soon as the announcement was made within an hour of that announcement the sovereign wealth fund came out that they had nothing to do with it. Invariably this tells me that something is not right with the entire process.” “Let’s go back to the preamble of the ICAO Convention, it talks about the fact that whilst it is

good to encourage friendships with other nations and if that is viewed it will become and can become a threat to national security, l see what is being done presently by this administration to be a threat to the national security of the country, I also see it as a way to decimate the domestic market such that they are trying to give a dog a bad name just to hang it. They have said all sorts of things about Nigerian airlines; I disagree with them. If any of them were astute enough as a business person, I would have expected that with the expertise they are propounding, they would have set up an airline”.

THREAT

President of Aircraft Owners and Pilots Association of Nigeria, Alex Nwuba said in recent interview with Arise TV that the domestic airlines have an argument against the way the national carrier was established. While speaking during global business report programme, he said, “The airlines and the industry is not in disagreement with the concept of a national carrier, they are just in disagreement with the attempt that is being made to achieve it. A poll was done recently and Nigerians were asked if we need a national carrier and 76 percent of those who voted said we do. The second question is if the carrier should be foreign owned and over 90 percent said no. The airlines are concerned about capital flight. Nigeria is a large travelling market and would love to see a Nigerian carrier flying Nigerians especially for the pride that comes with it. “The government already owns three airlines as we speak; Arik Air, NG Eagle and Aero Contractors and they could have converted any of those airlines into a national carrier and that would have overcome the excuse the government is having for Ethiopian Airlines being that if we started a national carrier today, it would have to operate for two years to fly internationally, which is the aim. The government also has the option to work with existing private airlines to establish operations for them. Airlines like Air Peace has equipped itself by buying long haul aircraft but it is not able to do that because the bilateral air service agreement under which it would fly is not being pushed by the government for other countries to open up those opportunities for Nigerian airlines, whereas other airlines are coming into multiple airports in Nigeria. So, there is not much capacity for the domestic airlines to carry. We should develop our airlines from within; that is what people are expecting. “There is no benefit for Ethiopian Air coming in. The only reason why Ethiopian Air is coming in is because it wants to dominate the African market, it is not so much to dominate the African market to fly within Africa, they want to take advantage

of the BASA agreement between individual countries, that is why they are already in a number of countries providing air travel for international flights. I don’t think there would have been opposition if Ethiopian themselves said they would want to enter into the market without government support, then they would operate like any other airline. The problem here is that this is a government supported international airline. What would that airline do? Since its mission is to dominate the international airspace, what we would then do is to employ a red ocean strategy, make the domestic market a loss leader, then carry all of the international flights out of Nigeria under the BASA,” Nwuba explained.

ROOTS OF THE PROBLEM

THISDAY gathered that many stakeholders who criticise the Nigeria Air deal did not have any doubt about the capability of Ethiopian Airlines to deliver on its mandate but expressed doubt about the process and shareholding. The Principal Managing Partner, Avaero Capital Partners said the whole process of establishing the national carrier was questionable and traced the failure to Nigeria’s aviation policy. “We do not have a long term Nigerian Aviation Policy which has determined what type of aviation industry we need to build for Nigeria, now and in the future. So we are taking decisions today, which may not align with the needs of Nigeria going forward. I would take a step back and look at the industry with a critical eye, look at what needs to be done to make the existing sector work better. It does not make sense to scrap where we currently are due to poor performance or underperformance when the reason the industry is under performing is structural,” Foster said. Reiterating the hostile operating environment, she observed that no airline can operate successfully in Nigeria’s air transport environment without reliable and affordable supply of aviation fuel and lack of availability of forex to buy spare parts, pay for maintenance and other dollar expenses such as aircraft leases, adding that no airline can make money when their assets are underutilised due to short opening hours with many of the airports designated as sunset airports that offer limited hours operating window. “No airlines can overcome delays caused by occurrences outside of their control such as VIP movement, bad weather, bird strikes, etc. These are inevitable and are within the ambit of the aviation authorities to do something about,” she said. The nostalgia of many Nigerians that whetted their appetite for national carrier has waned over what was finally birthed as their own. They are now in a dilemma whether they actually have a national carrier or a subsidiary of a successful airliner.

LFZ BOSS: PORT BASED ECOSYSTEM WOULD ADVANCE NIGERIA’S ECONOMIC PROSPERITY Folorunsho, who commended stakeholders, including promoters of Lekki Port on the port initiatives, noted that government should intensify efforts in providing the much-needed infrastructure that would enhance the efficiency of the Port.

“What a cargo owner needs are to be able to take his cargo to the Port. We need to utilise the barges as a way of evacuating cargoes. First of all, we need to transport the cargo. If it is by road or barge, it is an investment opportunity because it creates a lot of employment.

I see more opportunities than problems. A lot of cargoes meant for Nigeria are being diverted to neighbouring countries like Togo (Lome) because our ports are not efficient, “Folorunsho said. In his remarks, Executive Director Lotus Bank, Isiaka

Lawal-Ajani, identified the lack of a suitable skill set, uncertainty in the business environment, lack of access to financing and inadequate infrastructure as well as forex as some of the problems or challenges facing MSMEs in Lagos. He, therefore, noted that the Federal

Government has a significant role in providing financial education to business owners to assist in navigating the risks associated with running an enterprise. Also, the Special Adviser to the Lagos State Governor on Public Private Partnership, Ope George,

stated that the state government is doing a lot to remove obstacles that could hinder opportunities available for MSMEs owners. George noted that the state government has developed initiatives to support entrepreneurship beyond instituting reforms for businesses to thrive.

of Captain Ado Sanusi, Aero will do very well,” Ohunayo said. Spokesman of one of the major airlines told THISDAY that the reason why fares are high is because there is no capacity. “In February this year, an official of another airline complained to me that they were not having

enough passengers, even when the fares were low, but now, at N70, 000 to N90, 000 they are having more customers now and operate profitably. This Christmas, fares may rise to N200, 000. This is because nobody cares how the airlines are managing their service, the cost of operation is very high and as

long as the seats available are not meeting the demand, the fares will continue to rise,” he said. Like all other means of transport, the airlines and Nigerians in general are waiting for Dangote refinery to start operation; that is when it is hoped that price of fuel products would come down.

AIRFARES MAY RISE TO N200, 000 FOR ONE-HOUR FLIGHT IN DECEMBER but the aviation agencies should improve the infrastructure at the airports, especially providing the critical facilities at the airports so that airlines could operate more hours to the different airports more than the current 12 hours envelop. He noted that if airlines maximise their equipment by operating more

hours it would help to reduce the fares, bring down maintenance cost and also the airlines would earn more revenue. “We are looking forward to, not the national carrier, but aviation agencies should improve the airports and provide night landing facilities so that airlines

can operate more hours to more airports. This will increase revenue for the airlines, bring down cost because the more they operate the cheaper the fares and as you increase the operational cycle the operational cost will reduce. Also, I see Aero and Dana Air coming back and with the reappointment

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Friday October 28, 2022 Vol 27. No 10062

opinion@thisdaylive.com

www.thisdaylive.com

ELECTIONEERING AS A BLINDFOLD The environment is neither safe for election nor for census exercise, reckons TOLA ADENIYI

See page 29

AND I LOST MY SOULMATE… TONY ELUEMUNOR pays a heart-rending tribute to his wife, Ngozi, who passed at age 50

See page 29 EDITORIAL PREVENTIVE MEASURES AGAINST STROKE

See page 30

Recent demands for military-grade arms for self-defence speak to waning confidence in official security channels, writes BOLAJI ADEBIYI

THE CALL TO ARMS Theophilus Danjuma, a retired fourstar general and former army chief of VWDͿ UX΁HG R΀FLDO IHDWKHUV DJDLQ ODVW Saturday when he called on the Jukun to take up arms to defend themselves against non-state actors that have been decimating them and devastating their land for a couple of years now. If they do not, he said, they would be sent to their creator one by one. His call was based on WKH SHUFHLYHG LQH΀FLHQF\ RI WKH VHFXULW\ forces in stemming the onslaught of criminal elements who continue to maim and kill citizens at will. ([SHFWHGO\ R΀FLDO UHVSRQVHV DQG those of some public intellectuals as well as analysts have been that of indignation at his outburst. They think such a call for self-defence was unbecoming of a senior R΀FHU ZKR RXJKW WR EH D VWDWHVPDQ that should be preaching obedience to not just the law but also to constituted authority. On the surface, the critique of Danjuma’s self-defense approach to the ceaseless decimation of his people LV MXVWLÀDEOH EHFDXVH LW DPRXQWV WR self-help or taking the law into your own hands, which is unacceptable in a country governed by law. However, a deeper consideration of his position will reveal a deep frustration at the helplessness of his people in the face of unrestrained attacks by criminal elements who are perceived to have the backing or complicity of the state. It is important to understand the context of Danjuma’s outcry. A Jukun from Wukari Local Government Area of Taraba State, he rose to become the chief RI WKH DUP\ VWDͿ LQ DQG UHWLUHG LQ 7KHUHDIWHU KH ZHQW LQWR EXVLQHVV becoming 20 years later, the Minister RI 'HIHQFH LQ +H OHIW SXEOLF VHUYLFH ÀQDOO\ LQ DQG UHWXUQHG WR his businesses. Obviously one of the KLJKHVW UDQNLQJ SXEOLF R΀FHUV DQG WKH richest businessman from that enclave, it was not surprising that he became a WRZHULQJ ÀJXUH HYHU\ -XNXQ ZRXOG ORRN up to for succour in times of distress. %XͿHWHG E\ WKHLU EHOOLJHUHQW neighbours, the Kuteb and the Chamba, as well as Tiv settlers, the Jukun have gone through several internecine wars that took many lives and displaced many SHRSOH 'XULQJ HDFK RI WKRVH FRQÁLFWV LW was Danjuma they turned to help them navigate the peace process. Tired of WKH SHUHQQLDO FRQÁLFWV WKH FRPEDWDQWV submitted to some accommodation arrangements that restored some

delicate peace in the Wukari and Takum local councils. But a new development that would disrupt the peace of the area soon UHDUHG LWV KHDG ,W ZDV WKH FRQÁLFW ZLWK the Fulani pastoralists over trespass on farmlands. It would develop into full-scale armed violence with the indigenous Chamba, Kuteb, and Jukun communities being worsted and sacked. As usual, they turned to Danjuma, who urged patience while he tried to get the authorities to act. Without a doubt, the IDLOXUH RI WKDW HͿRUW ZDV PDQLIHVWHG by the intensity and regularity of the violence by the invaders, particularly in the last seven years. Meanwhile, the people began to see a link between the rise in the intensity of WKH DWWDFNV DQG WKH DVFHQVLRQ WR R΀FH by President Muhammadu Buhari, suggesting that the invaders had been emboldened by not just his presence but also the seeming kid glove with which the belligerents had been treated. Apparently tired of holding the people GRZQ LQ WKH IDFH RI R΀FLDO QHJOLJHQFH that aided the free reign of the attackers, 'DQMXPD FRPSODLQHG ORXGO\ LQ that since the military, who should defend the people were complicit, the need had arisen for self-defence. 7KH R΀FLDO UHVSRQVH IURP WKH IHGHUDO government was to scorn his complaint as irresponsible. With that kind of DWWLWXGH LW LV QR ZRQGHU WKDW ÀYH \HDUV after, the situation worsened with the HͿHFW WKDW 'DQMXPD KDG WR UHQHZ KLV charge to his people: Go and defend yourself! Those criticising the former war general for advising self-defence fail to appreciate the severity of the situation LQ WKH DͿHFWHG SODFHV ZKHUH WKH VHFXULW\ forces appear clearly incapable of protecting the people.

The critics conveniently forgot that similar calls had earlier been made by Bello Masari, the governor of Katsina State; and Bello Matawale, the governor of Zamfara State. Both are in the Northwest region of the country where bandits had held large positions. Distressed by the relentless large-scale sacking of many communities across many local councils of their states, the governors called on their people to arm themselves as a countermeasure against the wanton raids by armed-to-the-teeth bandits. The rising call for self-defence has WDNHQ GLͿHUHQW IRUPV LQ RWKHU UHJLRQV In the North-central state of Benue, the governor, Samuel Ortom, inaugurated a local armed force and demanded that the federal government should license it to carry military-grade weapons that would match those of the non-state actors ravaging large communities in the state. A similar request was made by Oluwarotimi Akeredolu, the governor of the South-west state of Ondo. Akeredolu, who also doubles as the chairman of both South-west and Southern Governors’ Forums, had been very vocal about the need to balance the non-state actors’ terror. So far, the federal government has declined. What this means is that despite being overwhelmed by the enormity of the security situation, the federal government, which appears to be at its wit’s end is refusing to allow states’ local security response units to bear arms commensurate to those of the nonstate actors even when it is apparent that the people have been left to their own devices. It remains to be seen how long the people will hold on. What is clear though is that it makes no practical sense to continue to tell law-abiding people facing annihilation in the face of weak or no protection from law enforcement agencies to continue to stay within the law. The federal government will have to rethink and restructure its response to the rising wave of attacks on law-abiding citizens by armed non-state actors or be prepared to contend with massive arms build-up by Nigerians, who are not willing to join The Diaspora, want to live and survive in their country. Adebiyi, the managing editor of THISDAY Newspapers, writes from bolaji.adebiyi@ thisdaylive.com

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TONY ELUEMUNOR pays a heart-rending tribute to his wife, Ngozi, who passed at age 50 The environment is neither safe for election nor for census exercise, reckons TOLA ADENIYI

AND I LOST MY SOULMATE…

ELECTIONEERING AS A BLINDFOLD Just close your eyes for a minute and imagine with your mind’s eye, a community of slaves which is oblivious to the chains and shackles on them; imagine a pack of lunatics in a mental asylum who are living their life without a care in the world; imagine a people in a dilapidated house which is an inch close to collapsing and they are dancing Buga; imagine a people being robbed at gunpoint and they are embracing their traducers; just keep imagining all the horrors of this world staring a people in the face and they are preparing for the rituals of an annual festival…just imagine. That is Nigeria and its idiotic serfs for you. A country blindfolded by her politicians who have put a huge spell on her and the entire

citizenry. A blindfold (from Middle English blindfellen) is a garment, usually of cloth, tied to one’s head to cover the eyes to GLVDEOH WKH ZHDUHU·V VLJKW $ SURSHUO\ ÀWWHG blindfold prevents sight even if the eyes are open; that is what Google tells us about a blindfold, the thickest form which had blinded Nigerians, permanently. Electioneering is the blindfold which has driven a people into unspeakable frenzy. You may wish to take a cursory look of the country called Nigeria and the state of anomie in which she has boxed herself: “We used 18.9 Billion to clear bushes and others” that was the testimony of the Agriculture Minister to the House of Representatives. “CBN spent 58.6 billion to print 2.5 billion Naira notes in 2020” that was the report of the Governor of Central Bank of Nigeria. “Termites reportedly ate up 17.128 billion Naira” that was another screaming report of expenditure evidence at Nigeria Social Insurance Trust Fund [NSITF]. “FG trains 177 youths in Smartphone repairs with 5.9 billion Naira that is 33 million per trainee to repair, not to manufacture,” according Minister of Finance, in a shameless report to a bewildered country skinned to the bones by the government of the anti-corruption Czar, Major General Muhammadu Buhari. “FGN purchased vehicles worth 1.4 billion to help Niger Republic tackle her Insecurity” another highly embarrassing confession by the Minister of Finance. Buhari’s regime last year declared wanted a foreign national from Niger for defrauding Nigeria of arms funds in the amounts of approximately $400 million, N400 million and €10 million. The Nigerien suspect Hima is wanted, meaning the whole defence intelligence

RI 1LJHULD FDQQRW ÀQG WKH SHUVRQ WKH\ contracted to supply those arms. $400M = N190 Billion + €10 = N5.5 Billion+ N400 Million. Total =195,900,000,000. One person from Niger stole almost N200 Billion arms money and vanished under Buhari’s government. No one has EHHQ ÀUHG RU SURVHFXWHG IRU WKLV PHJD fraud. The service chiefs under whom this mega looting occurred have been rewarded with ambassadorial appointments. The 16$ LV VWLOO LQ R΀FH “Take up arms and chase Fulani herdsmen out of the country” General TY Danjuma “Invaders here to colonize us, take our lands” General TY Danjuma, Daily Independent. “Nigeria’s Killing Field: North East leads as Terrorists, Others murder 53,418 Under Buhari” .Punch Newspaper. These are some of the snippets of the rot which had enveloped Nigeria in the last seven+ years. There is the issue of poverty of morality as evidenced by the characters who populate the political leadership of the country. Almost all the members of the Executive of the two largest political associations which hold pretension to political parties have cases of serious embezzlement and stealing hanging on their necks. The chairman of APC, the party that has sentenced Nigeria to the grave, has unresolved case with the EFCC in the tune of over N12 billion theft of public funds. He is just one of the many who should have been in jail in the last 10 years but who are protected by Buhari’s government. Others like him are plenty in the PDP, a party of the thorn umbrella, as well, either as governors or party stalwarts. ,QÁDWLRQ FDXVHG PDMRUO\ E\ ZURQJ² headed economic policies worsened by a deliberate ruination of the national currency, the Naira, by a ‘Yes-Man’ who is QRW ÀW WR EH D FDVKLHU LQ D FLYLOL]HG FRXQWU\ is another major issue crying for attention. Nigerians had never in the whole history of their existence experienced the crushing poverty they have been sentenced to by the Buhari junta and the yes-men ad yeswomen who dance round the leader’s WDEOH LQ D QDXVHDWLQJ GLVSOD\ RI EXͿRRQHU\ Insecurity is as loud as the Gbedu drum. It is also the worst in recorded history. People are being slaughtered like fowls on daily basis. The butchers are known, their locations are known. Their sponsors and ÀQDQFLHUV DUH NQRZQ 7KHLU HQDEOHUV DQG protectors are known. Even their shortterm and long-term objectives are known. Yet, nothing has been done really, to curb the open sore of ethnic cleansing and daylight robbery of people’s ancestral lands. People are being abducted on regular basis, vandalism of people’s farms and routine destruction of their places of livelihood are a common occurrence. People’s wives, mothers and daughters are being tortured, raped, humiliated and subjected to slavery in the 21st century and Nigeria is supposed to have a sitting government. High Chief Adeniyi is a Publisher and Consultant on Strategic Public Policy

I’ll never forget October 8, 2022. Yes, it was my birthday, but a terrible one. It was the only birthday on which my wife, Marian Ngozi (I called her Soulmate and so did my friends), a UNIBEN-trained lawyer, never wished me a “Happy Birthday, Mr. T”. That accursed Saturday, she was battling against death right inside the Garki Hospital. And she lost that battle. Was it her sixth or seventh hospitalization since April this year? Sincerely, I have lost count. What I can’t forget is that she endured two surgeries in two months. Her

soul returned to God that night of October 8; at 9:15 pm. She had turned 50 years old on September 24, barely two weeks before she passed on. Ah, how does a man write about the death of a wife? It is easy to recount the battles with the demons of heartache, the GHYLOV RI XQFHUWDLQW\ DQG WKH DUFKÀHQGV RI fear that grips the heart as you surrender all initiatives to the doctors. Those are the easy paths really; recounting the throes that tore the heart into shreds as an illness progressed, ravaging the body and mind of a loved one and as hope would begin to fade, is the hard road to travel. How hard has Soulmate’s passing been on me? I must confess that in the afternoon of Thursday October 13, when I ended a phone conversation with a Form Master of my son’s class at Christ the King College (CKC) Gwagwalada, I said aloud: “Let me tell Soulmate about this conversation.” Only the ohhs and ahhs of the people who had gathered for condolence visit brought me back to reality. And that same afternoon, I visited the Garki Hospital Mortuary to see her remains while it was possible. Ah, the face was serene. She was free from her agonies. At times like this, your columnist ÀQGV VRODFH LQ PXVLF *UHHN VLQJHU 1DQD Mouskouri, says (in THERE’S A TIME) “for love to grow, and to end in lonely tears. There’s a (face) I adore that I’ll see no more though I live for a hundred years. There’s a time for losing all you want and for travelling on, but the hurt in my heart, it goes on from day to day, will not go away, keeps on longing for what’s gone. And the hurt in my heart knows you are never coming home till the sea runs dry. In my dreams you have left yourself behind, you caress my mind when the nights grow dark and chill. Where’s the magic wand that will bring you nearer home?” That magic wand doesn’t exist! And that’s my tragedy. And the song’s conclusion? “But the hurt

in my heart, it goes on from day to day, never goes away, for it is all I have left of you.” 2022 will remain an “annus horribilis” (horrible year) to me. Since our marriage began it’s the only year we never danced to Shania Twain’s “You Are Still The One”, on July 1st, our wedding anniversary. We could not dance to the song this year because she was on the hospital bed, preparing for a second surgery in as many months. That particular hospitalization lasted from June 26 to July 27 and Soulmate was on oxygen support for three weeks and was fed intravenously for two weeks. Sometimes four tubes were sticking into her body at the same time. Once, she couldn’t sleep for 48 hours. Shania Twain’s song which we turned into our anniversary hymn says: “Looks like we made it, look how far we’ve come, my baby. We are still together, still going strong. You are still the one that I belong to, the one I want for life, the one I kiss good night”. But all that is past and gone now. And that is sad. Now. Dear, dear Soulmate, the reality that has hit me is from Fatback band’s 1980s hit record, “To Be Without Your /RYH ZKDW D WHQGHU ORYH LV OLNH WR ÀQG the sun is gone; to be without your love, what a tender love, is like to know the day would never dawn. To be without your love…is like to hold the rose but only feel the torns” and “how can I be strong when half of me was you?” I have WKH UHVW RI P\ OLIH WR ÀQG DQ DQVZHU WR that question. Soulmate was not guileful…as in cunning or foxy or slick or sly, or tricky. She was truly guileless. She just didn’t know how to begin to be deceptive. And “sorry”, “please” and “thank you” were ever ready to drop from her lips. Oh, she was ever humble, yet steadfast in her beliefs and stands and stances. Above all, she was peaceable and peaceful. All she ever wanted was to be of VHUYLFH WR KXPDQLW\ DQG WR ÀJKW DV ÀHUFHO\ DV SRVVLEOH LQ KHU FHDVHOHVV ELG to save unborn babies from the hands of abortionists and to rehabilitate women who have experienced such. Oh, she was relentless on that score. She once stopped a street girl who was pregnant from selling her baby for N300,000 and she reunited that Asaba girl with her sister who was then an $EXMD EDVHG 8%$ VWDͿ %XW DJDLQ DOO RI that is past and gone. I dread the day her Fulani beggar friend would knock again on our door. She would not be there to engage her in a little understood discussion where smiles and laughter would paper over the gaps in conversation before the beggar friend of her’s would leave loaded with victuals. Yes, she was kind to a fault. The only truth that matters now is that I miss Soulmate more than words can say. Did that come from a musician? No, it came from the tabernacle on the altar of the sanctuary of the chapel of the cathedral of my heart. And it hurts! Eluemunor is a Journalist

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EDITORIAL

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

PREVENTIVE MEASURES AGAINST STROKE Eating right and a healthy lifestyle are most desirable

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People are advised to eat right, reduce excessive reﬁned sugar, reduce their salt and fat intake while increasing their vegetable and fruit intake T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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

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LETTERS

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FRIDAY OCTOBER 28, 2022 • T H I S D AY

FRIDAY OCTOBER 28, 2022 •T H I S D AY

FRIDAY OCTOBER 28, 2022 • T H I S D AY

FRIDAY OCTOBER 28, 2022 •T H I S D AY

This

Weekend

FRIDAY, OCTOBER 28, 2022

UTH

& R E ASO

WEEKLY MAGAZINE

NEWS 13 Years After, BusyBee Events Boasts of Numerous Brand Identities See page 37

ETRENDS Edo International Film Festival Wraps Up in Style, Rewards Creativity, Talent See page 38

POLSCOPE NDDC: Rekindling a Smouldering Fire See page 39

ADESOLA ADEYEMI Group Features Editor: CHIEMELIE EZEOBI chiemelie.ezeobi@thisdaylive.com om

07010510430

Runway Queen Championing the Mental Health Crusade

T H I S D AY ˾ ͰͶ˜ ͰͮͰͰ

COVER

Adesola Adeyemi: Runway Queen Championing the Mental Health Crusade ÓÑÏÜÓËØ ØÞÏÜØËÞÓÙØËÖ ÝßÚÏÜ×ÙÎÏÖ˜ ÎÏÝÙÖË ÎÏãÏ×Ó˜ ÓÝ ÖÓàÓØÑ ÞÒÏ ÖÓÐÏ ÙÐ ÒÏÜ ÍÒÓÖÎÒÙÙÎ ÎÜÏË×Ý˜ ÚÜÙàÓØÑ ÞÒËÞ áÓÞÒ ÒËÜÎ áÙÜÕ˜ ÚÏÜÝÏàÏÜËØÍÏ˜ ËØÎ ÜÏÝÓÖÓÏØÍÏ˜ ØÙ ÑÙËÖ ÓÝ Ó×ÚÙÝÝÓÌÖÏ ÞÙ ËÍÒÓÏàÏ˛ ÒÏ ÜÙÝÏ ÐÜÙ× ÙÌÝÍßÜÓÞã ÞÙ ÌÏÍÙ×Ï ÙØÏ ÙÐ ÞÒÏ ʨÜÝÞ ÓØÎÓÑÏØÙßÝ ÓÑÏÜÓËØ ×ÙÎÏÖÝ ÞÙ áÙÜÕ áÓÞÒ áÙÜÖÎ̋ÜÏØÙáØÏÎ ÓØÞÏÜØËÞÓÙØËÖ ÌÜËØÎÝ˛ Ø ËÎàÙÍËÞÏ ÐÙÜ ÞÒÏ ×ÙÎÏÖÖÓØÑ ÓØÎßÝÞÜã ÝÞËØÎËÜÎÝ ÞÙ ÚÜÏàÏØÞ ÝÏâßËÖ ËØÎ ʨØËØÍÓËÖ ÏâÚÖÙÓÞËÞÓÙØ ÙÐ ÐËÝÒÓÙØ ×ÙÎÏÖÝ˜ ÞÙÎËã˜ ÎÏãÏ×Ó˜ ÓÝ ÙØÏ ÙÐ ÞÒÏ ×ÙÝÞ ÝÙßÑÒÞ̋ ËʰÏÜ ÓØÎÓÑÏØÙßÝ ÓÑÏÜÓËØ ×ÙÎÏÖÝ ÙØ ÞÒÏ ÓØÞÏÜØËÞÓÙØËÖ ÝÍÏØÏ˛ ÒÏ ÓÝ ÍßÜÜÏØÞÖã ÝÓÑØÏÎ ÞÙ ÓÖÒÏÖ×ÓØË ×ÙÎÏÖÝ˜ ÙØÏ ÙÐ ÞÒÏ áÙÜÖÎ˪Ý ÖÏËÎÓØÑ ×ÙÎÏÖÓØÑ ËØÎ ÞËÖÏØÞ ËÑÏØÍÓÏÝ˛ ÚËÜÞ ÐÜÙ× ÌÏÓØÑ Ë ×ÙÎÏÖ˜ ÝÒÏ ÓÝ ËÖÝÙ ËØ ÙßÞÝÚÙÕÏØ ×ÏØÞËÖ ÒÏËÖÞÒ ËÎàÙÍËÞÏ áÒÙ ÓÝ ØÙÞ ÔßÝÞ àÙÍËÖ ËÌÙßÞ ÞÒÏ Ó×ÚÙÜÞËØÍÏ ÙÐ ØßÜÞßÜÓØÑ ÞÒÏ ÚÝãÍÒÙÖÙÑÓÍËÖ áÏÖÐËÜÏ ÙÐ ×ÙÎÏÖÝ ÌßÞ ÞÙ ËÖÝÙ ÚÜÙÞÏÍÞ ÞÒÏ× ËÑËÓØÝÞ ÚÜÏÎËÞÙÜÝ áÒÙ ×Ëã áËØÞ ÞÙ ÞËÕÏ ËÎàËØÞËÑÏ ÙÐ ÞÒÏ×˛ Ø ÞÒÓÝ ÓØÞÏÜàÓÏá áÓÞÒ MARY NNAH˜ ÝÒÏ ÜÏ×ÓØÓÝÍÏÝ ÙØ ÒÏÜ ÔÙßÜØÏã ËØÎ ÞÒÏ Ó×ÚËÍÞ ÝÒÏ ÒËÝ ÒËÎ ÙØ ÞÒÏ áÙÜÖÎ ËÜÙßØÎ ÒÏÜ ÝÙ ÐËÜ What is it like being a model of international repute and modeling for international brands? t feels like bliss for me. It’s a beautiful dream come true, being opportune to work with international brands. Although the behind the scenes life of a model isn’t as glamorous as it seems, I am fulfilled and grateful. I am happy I chose to experience this journey.

and you’ve never even traveled out of Lagos.” However, despite their doubts, I strongly believed and just knew it would happen. So I said it with so much confidence.

Tell us about your modeling journey. How did it start? It’s a long story. I always wanted to be a model, and while I was at the University of Lagos (UNILAG) studying accounting, I would wear heels to class or walk around the campus, manifesting that I was a model. One day, while walking around the campus, a scout saw me and asked if I was a model, I said “yes.” He then proceeded to ask about what agency represented me, and I told him I was trying to find one. He then introduced me to a modeling agent, who then recommended that I contest in a particular modeling competition. I came first runner-up in the contest and from there, I grew more passion for modelling and subsequently engaged in other contests and modeling projects. I wasn’t making enough money at the time, but I always aspired to model in New York City someday. When I graduated from UNILAG, I started working on a strategy to get to the US and scout for agencies in New York. As soon as I finished my NYSC, I traveled to the US to look for agencies to sign me. I didn’t have so much luck, as I realised there were a lot of procedures I wasn’t aware of. I was told most agencies wouldn’t want to sign me in New York, as they typically send most new models to Europe or South Africa to build their portfolio and tear sheets first. During this journey in New York, I bumped into a photographer while I was lost in World Trade Center. He asked if I was a model, and I told him that I’m a model in Nigeria but trying to get signed in New York. This photographer then offered to help me by photographing me to help build my portfolio. I eventually went back to Nigeria to strategise on how to get to Europe. A Few months later, my instincts told me to go back to New York and try again. It was a scary decision, but I decided to go for

it. I contacted my manager who I had made contact with while in New York, and she advised me not to come back to the city, but instead, to stick to the plan of going to Europe. While I acknowledged her advice, I still told her I was determined to return to New York. I returned to New York City, and this time around, agencies I met were not only interested in me but willing to sponsor my visa. That was how I got my first contract with One Management. Growing up, what were your childhood fantasies? Have you always wanted to be a model? Growing up I always wanted to win Miss World or Miss Universe. I just always knew that I would live in America - New York to be precise - even though I didn’t have an image of what New York looked like in my mind. Also, I remember participating in a beauty contest while I was in junior secondary school, and I came second. I wished to win but consoled myself with my belief that one day, I would be a supermodel, and I would model in New York. And since then I always said it out loud to whoever cared to listen. Some people mocked my dreams. They would say, “you don’t even have a visa,

What was your parent’s reaction when you told them you were going into modeling? Did they support your decision? When I was a child, my dad used to call me “Agbani,” and when I told him I would be a model or Miss World, he was quite supportive. However, when I got into university and told him I was going into modeling, he wasn’t so supportive, especially because my mom expressed fears about how models were perceived at the time, that is the stereotype that people see models as escorts, being into drugs, etc. Because of this perception, my father became quite opposed to the idea of my modeling career. But I was quite obstinate, as I felt I had a right to my own free will. I was confident in my identity, and I trusted myself not to get involved in any of the things my parents feared that models do. In addition to modeling being my dream career at the time, I also felt that it was a means for me to make money while in school. So, I became even more determined and knew that if I could make some money from it, my parents would eventually have no choice but to approve of my dreams.

this struggle. I have also been opportune to speak at a programme organised by Cornell University, concerning mental health in the modeling industry. Since I am into spirituality, I also apply it as a guide for people going through mental health struggles. A lot of people shy away from the issue of mental health and most often, never open up about their mental health status. So, how do you get people to talk about this, especially those who are experiencing mental health challenges? This is a tough one due to the stigma concerning mental health, as well as people having the fear of not being understood, or the fear of their thought process being judged. These are some of the reasons why people struggling with mental health do not open up. This is the reason I open up about my personal experiences and let people know they are not alone, and that they are in a safe place to feel vulnerable. I am a huge advocate of advising seeking the expertise of a therapist and/or a psychiatrist. What advice would you give anyone who may be experiencing mental health challenges? My advice is always to seek the help of a therapist and/or a psychiatrist. And when you get the right one that suits you, it can be your best decision ever. What is your most memorable experience as a model? I remember when I got my first contract signing with One Management New York. There was an incident when some model colleagues of different races pulled out of a show because a client who asked me to come in for a fitting, told me and another person of colour that they weren’t interested in seeing any more black models. I felt the client was very disrespectful, and of course, I had different waves of emotions. This sad event made me more conscious of my skin colour and the prejudices prevalent in the industry and society. A highlight in my career was when my agents informed me that I was selected to be one of the faces of the L’oreal hair packages. I remember being so nervous and excited at the same time. It was such an awesome feeling. What do you think of the Nigerian modeling industry? I am no longer as conversant with the Nigerian modeling industry as I used to be. But I do hope that models in Nigeria are being given better treatment with the utmost respect. During my time modeling in Nigeria, I disliked how models were treated. They would get paid peanuts, clients and other creatives would show no respect to the models, and some insincere people always wanted to take advantage of vulnerable models. I hope the industry is much better than it used to be.

You have an interest in mental health activism. Tell us why My interest in mental health activism stems from my personal experiences of struggling with mental health issues and having empathy toward others going through similar experiences, especially knowing those who have a hard time managing their mental health to the point of giving up.

If you weren’t into modeling, what career path do you think you would have taken? I would probably have been an actress or TV host. I have always loved any career that makes me feel heard and seen. Also, I could have probably been running a business that involves my creative mind.

As an activist in this ﬁeld, what has been your impact so far and how have you been able to create awareness about mental health? As a model, I have been able to use my platform through different media, to create awareness about mental health issues by giving out information on research materials concerning mental health, and letting people know they are not alone in

What are your plans in the modeling industry, and your advocacy work for mental health? At this point, I am very open to the beautiful things the universe has in store for me while in the industry. I will keep advocating for mental health, continue to research, and I also hope to partner an organisation that creates awareness for mental health. And probably someday, have my organisation that supports mental health.

T H I S D AY ˾ ͰͶ˜ ͰͮͰͰ

NEWS

13 Years After, BusyBee Events Boasts of Numerous Brand Identities Stories by Mary Nnah BusyBee Events, an award-winning full-service events planning, training and management company in Lagos is making giant strides in the Nigerian event industry. As it marks its 13th year of operation in the business this year, the firm can proudly boast of numerous brand identities that have been born and are blooming. Speaking with THISDAY about its journey of 13 years, the Managing Director of BusyBee Events, Bisi Sotunde explained that her giant strides in the event space is as a result of hard work, determination and being visionary. She also mentioned the God factor and her spouse’s support are all major contributors to her success today. According to Sotunde, what began as BusyBee Events, as a mustard seed has evolved into other brands such as BusyBee Academy, BusyBee Event Business Summit, BusyBee Excellence Awards, Bisi Sotunde Consulting amongst others The Event Coach revealed that she

has impacted and empowered event professionals through her various platforms which have produced over

1500 event professionals. “I have a thriving network, called “The Well Watered Garden

Easybee CEO, Bisi Sotunde

Tribe,” which boasts of an active membership of over 250 event professionals which cuts across Nigeria and the Diaspora”, she noted. Speaking further, Sotunde said that the contributions of the Events Industry to Nigeria’s economy are very evident, with the rising number of major events that gulps so much, adding that it was proof that the industry is buoyant. Suffix to say that Sotunde’s impact, contributions and influence in the Nigerian Industry have earned her both local and global recognitions and awards such as; The Most Innovative Events Planner, One of 5 leading African Giants in the Events industry and most recently, selected as one of six destination events planner to represent Africa at the Experiential Planner Expo EPEX 2022 in Dubai - a fully sponsored trip by the Dubai Tourism Board/Government. Sotunde is indeed a leading female entrepreneur in the event industry and is doing her best possible to build others through her learning platform.

Rubellite Cosmetics Opens Lekki Outlet Residents in Lekki, Lagos recently witnessed the opening of Rubellite Cosmetics and Hair store, an artistic and beauty outlet in their neighbourhood. Speaking at the launch, the founder of Rubellite Cosmetics, Bolaji Mogaji-Idirigbe said Rubellite Cosmetics is a Nigerian makeup brand, specially created for women of colour, adding, “We produce lipsticks that will fit the skin tone of the regular African woman. “The goal is for every woman to look beautiful without the help of a professional and that is why we created a long-lasting lipstick that will not dry your lips and the lashes just to make your eyes poop.” He noted further that the goal of the recent store opening in Lekki Phase 1 was to be able to interact with customers residing on the Island. “We have done exhibitions and all the time; people keep asking for our store’s location here on the Island. Hence, we decided

Zainab Saleh

The 8th edition of the eponymous female only Karate Championship featuring over 400 participants with athletes, referees, judges, coaches and management personnel from all over the country, is poised to expand its scope for more and better participation in a championship that boasts of very best in this form of martial arts. Set to hold between November 17th and 20th, 2022 at the Teslim Balogun Stadium, Surulere, Lagos from 9 am daily, the event’s primary objective is to ensure that the female gender is adequately equipped for self-defense, safety and security. The popular female Championship, which was first held in October 2014 and is in its 9th year running pausing briefly in 2020 due to the -19 pandemic, is rejuvenated and stronger than ever. According to its Founder, Hajiya Zainab Saleh, who herself is a karateker, her passionflower, the Girl Child Protection, must not be limited to her emancipation in education and business but must also ensure her safety and security as well. Saleh expressed that the Girl Child must be able to protect herself physically, mentally, materially and otherwise. This 8th edition will feature prominent members of the Karate Federation of Nigeria, and eminent Karate referees, one of which being Mr. OlusegunAkinola (7th Dan), the Tournament Director who is the Chairman, Karate Federation of Nigeria Referees’ Commission among other titles in the African Karate Federations. The Zainab Saleh Female Open Karate Championship is in collaboration with the Lagos State Karate Association (LSKA) and the Karate Federation of Nigeria (KFN).

TRANSCORP HILTON WINS PRESTIGIOUS 2022 WORLD TRAVEL AWARD Rubellite Cosmetics, Founder, Bolaji Mogaji-Idirigbe (middle) ﬂanked by guests at the event

to set up this”, she noted. Established in 2018 with only two products, Mogaji-Idirigbe said the brand now has 14 products in its stable including a luxury hair brand. “We are becoming a fast-rising brand and we feel we have

penetrated, so this is the right time to have a flagship store because we are ready and we have been able to get a chuck of customers”, she noted further. Mogaji-Idirigbe who observed that even men today use lip-gloss to hydrate their lips stressed that

as an all-inclusive brand, Rubellite Cosmetics is targeted at beauty lovers. The event had in attendance top socialites, beauty influencers, as well as celebrities including Nollywood star actress, Nancy Isime.

WIMBIZ Advocates Attitudinal Change TowardsIncreased Participation, Visibility of Women in Nigeria Women in Management, Business and Public Service (WIMBIZ), a Nigerian non-profit organisation that seeks to inspire, empower, advocate, and connect women, has announced the take-off of its Women advocacy programme and has therefore inaugurated a committee to plan and execute advocacy programmes on its behalf. Drawing on its extensive women’s community-building history, the WIMBIZ advocacy committee’s current intervention is to support the 2022/2023 pre-election advocacy. The advocacy committee’s mandate for this year is centered around the sensitisation of women and positively influencing their attitude towards the exercise of their civic duties during the upcoming general elections in 2023. This year’s campaign centers around informing and reminding women about their voting history, their rights, responsibilities, and rewards regarding voting, and encouraging women to perform their civic duty. The programme which has the theme, “Women and Civic

ZAINAB SALEH FEMALE ONLY KARATE CHAMPIONSHIP SET FOR 8TH EDITION

Duties, Voters’ Attitude and Elections in Nigeria”, will also feature a report, infomercials, and a mini-historical documentary on Nigeria’s suffragettes. Speaking during a press briefing to inform the media of the WIMBIZ 21st Annual Conference scheduled for November 3rd and 4th at the Eko Hotel and Suites, Victoria Island, Lagos, the 2022 Advocacy Committee Chairperson, Ms. Ronke Onadeko said the goal of WIMBIZ in its advocacy efforts is to increase women’s awareness of our

historical journey in public and private participation and politics and advocate improvements in inclusion, participation, and visibility on all related indices. With the United Nations Sustainable Development Goals 5 and 10 for gender equality and reducing inequalities respectively in view, the WIMBIZ advocacy pillar is focused on engaging both the public and private sectors and individuals through strategic partnerships, collaborations, and direct engagement while preparing females to position themselves to contribute to

nation-building and performance of their civic duties. The goal for public sector engagement is to have a higher representation of women developed, equipped, and positioned to increase their representation at all levels of government and in politics for both appointive and elective roles from 3.8 per cent to 30 per cent by 2030 and to increase the representationo f women in the corporate sector occupying senior and executive positions. WIMBIZ advocacy initiatives are championed by standing

The Abuja Transcorp Hilton Hotel has for the 8th year in a row, emerged winner of the prestigious World Travel Awards in four categories, with prizes for Nigeria’s Leading Hotel and Nigeria’s Leading Hotel Suite and for the first time, Nigeria’s Leading City Hotel. World Travel Awards was established in 1993 to acknowledge, reward, and celebrate excellence across all key sectors of the travel, tourism, and hospitality industries. The 5-star hotel was announced the winner of prestigious industry awards at successive gala ceremonies on 2 continents in Africa and Nigeria’s Leading Business Hotel at the 2022 Africa & Indian Ocean Gala Ceremony which took place at Kenyatta International Convention Centre (KICC), Kenya. Commenting on the awards, General Manager, Transcorp Hilton Abuja, Bulent Tarlan said, “It is a great honour to receive World Travel Awards and World Luxury Hotel and Restaurant Awards at the same time.“Every day our over 1000 Team Members work hard to create exceptional experiences for our guests “The awards are a fitting reward for the hard work and dedication of our Team Members.” Transcorp Hilton Abuja was also honoured with the award for Nigeria’s Best MICE Hotel at the 2022 World MICE Awards Gala Ceremony at The Ritz-Carlton, Amman, Jordan. In the same month, World Luxury Awards presented the hotel with the World Luxury Hotel Award for the 3rd time, and the World Luxury Restaurant Award for Zuma Grill for the 1st time, at the Gala Ceremony of the 2022 World Luxury Awards hosted at the magnificent Swandor Hotels & Resorts Topkapi Palace in Antalya, Turkey. World Luxury Hotel Awards and World Luxury Restaurant Awards, were established in 2006 and 2015 respectively, as the pinnacle of achievement in the luxury hotel and restaurant industry offering international recognition as voted by guests, travelers, and industry players alike.

Leadership Organisation Honours Onas Holdings CEO Institute of Leadership Manpower and Management Development (ILMMD) has honoured Onas Holdings Limited CEO with Fellow, Life Time Members Awards and Doctor of Leadership Management and Development The investiture and induction ceremony took place on Saturday 15th October 2022 at Best Western Hotel Amadu Bello

Way Victoria Island Lagos. The event was graced by several chief executives of various national and multinational companies. During the 18th induction and investiture ceremony, Director of Membership Services, ILMMD, Dr. Theophilus Cornerstone Okonofua charged all the distinguished fellows and inductees to imbibe the traits of leadership in all

ramifications, he reminded the audience that the Pan African institute is a prestige professional for development practitioners. “You must be an exemplary leader in your organization and in the society at large, this institute is positioned in such a way that it must be reckoned with in Africa in the next five years.” He added. Dr. Austin Onamaro in

his remarks commended the institute for shaping the lives of distinguished fellows and its impact on developing leaders through various leadership training in Africa. “This institute should be commended for its great impact in moulding people to be useful in their organisations and the society at large. I see this

honour as another call to serve and this honour has encouraged me more to continue to dish out good leadership of qualities to my people both in my organization and the society at large.” He affirmed. At the ceremony, the institute was able to induct three distinguished fellows, 13 doctors of fellows and about 20 fellows.

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E-TRENDS A TASTE OF SUCCESS AT STREET FOODZ NAIJA 3 24-year-old Scholastica Joseph was only 17 when she started her food business. After she and her mother were kicked out of their home by their stepfather, the young teen relied on selling food bowls for sustenance. Through that small business, Scholastica saw herself through her diploma at University of Lagos. “Whenever I had a few lectures to attend, I took my orders,” she said at the third season of Street Foodz Naija finale. Not only did she pay for her education, her resilience and determination helped her to pay for better accommodation. But the Akwa-Ibom State indigene had a bigger vision for her food business. What she didn’t know was what form the financial support she needed would take or where it would emerge from. Therefore, when a friend told her to pick up her apron and apply for the Foodbay TV Street Foodz Naija, she reluctantly applied. Now, her life is no longer the same. “I wasn’t serious at first but when I applied. It was mind-blowing. It is the most educational show,” she gushed in excitement. Indeed since 2020 it birthed before the pandemic, Street Foodz Naija has been redefining how local Nigerian food is seen and revered within and beyond the continent. “We need to do more with our food,” said the MD/CEO of Maxima Integrated Media Limited, owners of Foodbay TV, Femi Ogundoro. “We need to do more with ourAgege Bread and EwaAgoyin, and that’s what Foodbay TV is all about. Let’s make it exciting enough, let’s educate people about it and then put African food on the World Food map. We’re not asking as NigeriansorGhanaiansorCameroonians for a seat at the table anymore. We’re constructing our own table. We’re not going to be looking at the foreign media to dictatewhatwedowithourfoodanymore. Wewilltellthemhowtofeelaboutourfood andhowtoseeit.” Each season sees young chefs take on an adventure to transform familiar meals into eight-world wonders that are irresistible to any palate. For instance, in this year’s finale, the first runner-up Chef Abraham Nwanuah also known as Chef Blue turned Garri into a sweet crunchy snack that would make a good appetiser.

NAIJA HIGHLANDAH CHALLENGE HEADSTO IKEJA, SURULERETHISWEEKEND The William Lawson’s Naija Highlandah challenge is getting tougher as the campaign moves to lounges this weekend including Bamboo Lounge in Ikeja GRA, Q4 on Awolowo Way, Ikeja, Esporta Magodo, and Jacoin Bar, Surulere. The month-long search for daring Nigerians that will compete in a series of challenges to win the grand prize of Two Million Naira and a trip to Scotland, has recorded an increase in the number of game participants from 392 to 443 in the second week to affirm the challenge’s popularity. Out of the 392 that participated in week one, 38 people scored 80 points, qualifying them for the grand finale. Last weekend, only 12 bold people with guts and wits scored the qualification mark (80) for the grand finale. Sharing their experiences at the week two activations, contestants disclosed that they had been wowed by William Lawson’s whisky, brewed in Macduff, a rugged, coastal town northeast of Scotland. Gifty Gabriel said, “It’s been a pleasant experience this evening. Watching people participate in the challenges has been hilarious, especially the men walking on high heels and the one involving tissue paper.” At the end of the four-week challenge, the leading 10 participants with the best Highlandah attitude and the highest number of points will move to the grand finale where they will display more guts and determination to clinch the ultimate Naija Highlandah.

MUSIC SHOWBIZ

…Your weekly entertainment delight

NOLLYWOOD

Edo International Film Festival Wraps Up in Style, Rewards Creativity, Talent With 1500 entries, 200 movie screenings, 11 Masterclasses, and a USD26,000 reward, Edo State International Film Festival themed ‘Edo to the World’ sponsored by Swiss Agency for Development Corporation, SDC and the German Government, BMZ, wraps up in style, Precious Ugwuzor writes

do State International Film Festival sponsored by Swiss Agency for Development Corporation and the German Government (BMZ) recently closed with a grand award celebration at the Victor Uwaifo Creative Hub, Benin City, Edo State. Themed Edo To The World, the festival had over 1,500 films from 94 countries, 200 movie screenings, elevating masterclasses and training. Facilitated by Governor of Edo State, Governor Godwin Obaseki and Managing Director, Edo State Skills Development Agency (EDOJOBS) Mrs Ukinebo Dare, in partnership with the SwissAgency for Development Corporation and the German Government (BMZ) through the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) SKYE Programme, the festival brought together movie makers, investors, distributors and industry enthusiasts from around the world. The festival served as an avenue to promote creative skills development and create job opportunities for the residents of Edo State. Hosted by actors, Rex Nosa and Linda Osifo, the closing/award ceremony marked the finale of the successful fourday festival with a colourful night filled with dance, spoken word, and standup comedy performances from local talents. Opening the event with her remarks, Ukinebo Dare, Convener and Co-Chairman of the Edo State international film festival 2022 appreciated the partners and guests for “a fantastic event, including the veterans and filmmakers who shared their talent and creativity with us”.

Govenor of Edo State, H.E, Godwin Obaseki and Recipents of the HeartBeat of Our Time at the #ESIFF2022

“We would like to invite filmmakers, and producers to employ the services of the Victor Uwaifo Creative Hub. We have world-class equipment that you need here to help you produce the best quality films,” she stated. Film entries were assessed by the official Jury panel, with winners from 15 categories emerging. $10,000, $5,000 & $5,000 was awarded by the Chief Host and Governor of Edo State, H.E Godwin Obaseki, for ‘Best Feature Film (overall)’, ‘Best Film shot in Edo’ and ‘Best Indigenous Film’ respectively. “In Edo State, we have the most creative people in the world, and our history reflects this. We are also the most creative Africans on the continent. The talents we are celebrating tonight have emerged from a long and strong heritage of creativity. This award is to show appreciation for their work and how they choose to tell our stories”, said

AMAA 2022: AFA Graduates to Get Grants From Sanwo-Olu

the Governor while presenting the award for Best Feature Film (overall). Three other categories were also awarded a cash prize of $2,000 each by Phoniex, for ‘Best Use of Technology Film’, ‘Best Cellphone Film’ and ‘Best Student Film’. The Award ceremony honored and celebrated Edo State’s indigenes who have shaped and are still shaping the creative industry with a special award segment titled ‘HeartBeat of our Time’. While presenting a special award to participants and winners of ‘The Rural Photography Training’ commissioned in the rural areas by GIZ Skills Development for Youth Employment (SKYE) Programme and EdoJobs, the Head of Programme, Tobias Wolfgarten said, ‘Our partnership with Edo Jobs and ESIFF has been rewarding. I’m therefore delighted to present these awards to four winners from the photography competition.

NEWS CENTRAL TV LAUNCHES ON DSTV IN SUB-SAHARAN AFRICA Mary Nnah

“Beyond this, GIZ Skye will also be offering entrepreneurship training to the winners whilst also exhibiting their works to help raise funding which will go directly to the winners”. The rural photography training in rural areas featured 24 entries and 4 winners were rewarded with N50,000, N75,000, N100,000, and N150,000 respectively. In addition, GIZ SKYE launched an eLearning platform called Edo State Academy to help young citizens of the state scale up with soft skills training. Following the success of the maiden edition, the host and convener are scheduled to announce a date for the next ESIFF in the coming weeks. Key notable personalities in attendance are the First Lady of Edo State, H.E, Betsy Obaseki; Commissioner for Arts, Culture, Tourism and Diaspora Affairs, Hon. Bamidele Olaitan; Desmond Eliot, Yvonne Jegede, Etinosa Idemudia, Angela Eguavoen, MC EdoPikin, Charles Inojie, Mercy Aigbe, Lasisi Elenu, Lillian Agbefai and host of others. Winners included Tare (short film) (Best Short film); On these mountains (Best Indigenous Language Film); The Funeral (Onaiwu (Feature Film) Best Student Film); Battle of the West (Best Use of Technology Film); Zara (Best Cellphone Film); Palm for Crude (Best Documentary); On these mountains (Governor’s Award for Best Indigenous Feature Film); Omoatama (short film) (Governor’s Award for Best Film Shot in Edo State); Onaiwu (Governor’sAward for Best Feature Film (Overall); Onaiwu (Best Director); Benjamin Olaiye Jnr (Best Actor (Male); Victory Idahosa (Best Actor (Female); Onaiwu (Best Film (Costume) Funeral Best Film (Makeup); and After a while (Best Film (Cinematography).

BOMA, SASKAY, ELOZONAM ATTEND SCREENING OF SEASON FINALE OFTHE LORD OFTHE RINGS: RINGS OF POWER Iyke Bede

AFA graduates present artworks to Sanwo-Olu

For the first set of graduates of the Film in a Box training, an initiative of Africa Film Academy in collaboration with the Lagos State government, their euphoria knew no bounds when the Governor of Lagos State, Babajide Sanwo-Olu graced their graduation ceremony which took place at the Lagos Igando Theatre, Alimosho. They dramatised their elation with chants and cheers such that the voices of Sanwo-Olu’s supporters who came to show the governor their solidarity for his second term bid were drowned. The students, selected from the three local government areas where the training took place: Epe, Badagry and Alimosho, are among the 960 students who took part in the six-week free intensive training designed to train and empower young people in the creative industry. The graduates were trained in acting, art directing, light and lighting, editing, sound production, and post-production, among others. According to the founder of AFA, Peace Anyiam-Osigwe, the initial target for the programme was 600. “We would like to tell you that before

we rounded up the programme, some of the students had already gotten jobs. They have been taken on by production houses and our editors are in great demand,” she said. The Film in a Box training is part of the Lagos State Creative Initiative which started with only two partners but has expanded to include AFA in training and empowering young creatives. Anyiam-Osigwe also revealed that five companies were formed through the training and one of the films made Akanji would be screened in cinemas. To further support the graduates, Sanwo-Olu promised to help them with grants for start-ups in the creative sector. He restated his administration’s commitment to collaborate with stakeholders in the entertainment industry to train and acquire skills that would create an ecosystem to give livelihood to creative minds. The governor also urged the graduates and other creatives to take advantage of the Lagos States Employment Trust Fund and the State Film Fund, to become self-employed and employers of labour.

On the 1st of August 2022, News Central Media Limited launched its broadcast services on DSTV. The channel is currently available to DSTV customers in 42 countries in West, East, Central and Southern Africa. Before coming on DSTV, News Central launched on StarTimes in 2020 and has gained prominence as the continent’s first truly PanAfrican news channel known for telling compelling and incisive stories about Africa. News Central is changing the narrative about how Africa is portrayed. The Head of Commercials for News Central Media Limited, Rosemary Egabor-Afolahan said “as a premium African news brand, we are focused on telling African stories with honesty, dignity and respect to changing the single-minded narrative of the continent. Our audience is first and primarily Africans with a focus on some certain key markets. We are excited to launch DSTV, a platform that we believe will help further drive our vision to become the most respected news media brand in Africa. News Central TV is aimed primarily at African youth between 18 to 34 years. We offer over 20 hours of original and inspiring content daily that cuts across Politics, Business, Sports, Entertainment and features. Part of the station’s news strategy is to report stories simply and conversationally, engage heavily with their audience, and differentiate ourselves from the competition by pushing out authentic stories that offer fantastic analysis on issues that matter to Africans across the economic, social, and political spectrum.

Recently, Nigerian reality TV stars Boma Akpore, Saskay Ladi-Jonah, and Elozonam Ogbolu assembled for the watch party of ‘Alloyed’, the final episode of the first season of ‘The Lord of the Rings: Rings of Power’. ‘Rings of Power’ is an American fantasy streaming television series developed by J. D. Payne and Patrick McKay based on the novel ‘The Lord of the Rings’ and its appendices by J. R. R. Tolkien. The series is set in the fictional world of Middle-earth and follows an ensemble cast of characters as they battle the evil Sauron and his army of Orcs. Hosted by Prime Video Nigeria at the Eko Pearl Towers, Eko Atlantic City, the finale screening follows the precedent set by the debut watch party that featured the first episode of the series, with the likes of rapper Falz and actor Timini Egbuson in attendance. As expected, guests were treated to fine finger foods, and upbeat music, as they lounged by the poolside to the cool breeze from the Atlantic. The viewing experience was a personalized kind. Each person was handed glowing headsets enabling them to adjust the audio experience to their tastes. It was also a night of bright lights with the online streaming platform bedazzling guests with a calisthenic display with hundreds of drones. A truly unforgettable experience, the fluorescent drones formed the shape of the ring, the key symbol of power in the “Lord of the Rings” universe. Other notable personalities in attendance include singer Nonzo, skit makers Enioluwa Adeoluwa and Steve Chuks, and actor Emmanuel Taymesan.

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POLSCOPE

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NDDC: Rekindling a Smouldering Fire

Canticles….

Atiku and His Many Hurdles

ne month after the ban was lifted, what is your rating of the political campaigns thus far? It is a harvest of political cataclysm

What does that mean? Please stop all this your needless grandiloquence on otherwise simple matters. I am saying it’s been a torrent of gaffes and misfiring, especially by the two leading parties— presidential candidates of the APC and the PDP. How do you mean? At least there have been issue-based campaigns. Not so much about petty rivalries and interpersonal attacks.

Ohwavborua

fter what looked like endless executive inertia, President Muhammadu Buhari, about nine days ago, sacked the interim administrator of the Niger Delta Development Commission (NDDC), Effiong Akwa, and in his place appointed Mr Emmanuel Audu-Ohwavborua, who until his appointment ,was a Director in the Delta State office of the commission. That will be the second Emmanuel to head the commission, the first being Senator Emmanuel Aguariavwodo, a kinsman of Mr Ohwavborua, both from Delta State. Mr Akwa was appointed at a time the commission was going through transformation. The plan to probe the commission was hatched by the federal government which felt that the commission was under-firing, given the amount of resources that have been channelled through it for the development of the Niger Delta region. But the results were not commensurate. Akwa’s appointment was influenced by the former Minister of Niger Delta, Mr Godswill Akpabio. Akwa, a kinsman of Akpabio was supposed to hold the forte for just a while before a statutory leadership structure was installed in the commission. The original idea was that some neutral leader should be put in place to oversee the affairs of the commission while the forensic audit of the commission lasted. But long after the so-called forensic audit ended, Akwa was yet in place. And he stayed on for over two years. There were times some Niger Delta youths were even sponsored to protest any attempt to constitute the board of the commission. Interim administrator actually became a sole administrator for over two years. The Act setting up the commission has no provision for an interim administrator. That there is so much arbitrariness in government is beyond argument. It is instructive that despite the hoopla that followed the said forensic audit of the commission wherein some disturbing details like the approval of N6 trillion for the commission in 18 years, plus the fact that 13,000 projects were abandoned, etc., were unearthed; the federal government is yet to take any action on the report from the auditors. This is even as Mr President had vowed , nearly one year ago, when he virtually visited University of Uyo in December 2021, to commission a hostel built in the institution, by the NDDC. President Buhari had vowed to

not only recover every kobo stolen from the commission, but to also prosecute those found to have extended their private pockets into the NDDC treasury. President Buhari was perhaps moved to give that vow after listening to the then minister, Godswill Akpabio who lamented that the NDDC had been turned into an ATM from where people (especially leaders of the commission) went to withdraw huge cash persistently and mercilessly. But nearly one year after, the President seems to have forgotten about his promise to rein in the rogues at the commission. With just about seven months to go, will the President make good his vow to recover all looted funds of the commission and also arrest and prosecute all those who have abused the privileges offered them by serving in the commission. If potential crooks get the signal that crime and roguery will not be punished, then they get even more lionized to do the unthinkable. At the ceremony, Mr President had remarked that, “the Niger Delta Development Commission (NDDC) needs to demonstrate that it can achieve the objectives it was conceived for and make its impact felt all over the Niger Delta region” The President rightly added that, “the lives of the people of the Niger Delta could be so much better if the funding received by this commission since its inception, in billions of Naira, over the last 20 years, have been judiciously deployed in the service of the people”. But after that powerful statement seeming to indicate that Mr President was poised for action, eleven months have passed, and nothing in that direction has been heard or said. Perhaps encouraged by the presidential amnesia, it was gathered that the new minister of Niger Delta, Mr Umana Okon Umana, who had been accused of poor performance in office, was also accused of planning to defraud the commission to the tune of N480 billion, as alleged by a petition sent to the senate committee on ethics and privileges. According to the petition, there is a plan to compile and execute some projects that were not appropriated by the National Assembly , and use that as a reason to access some N480 billion domiciled in the CBN. Part of the queries the senate had for Umana is the plan to sack the interim administrator. As it turned out, Mr President has ticked that last query as ‘dealt with’. The senate committee has already

scheduled 2.00pm of November 10 for the minister to appear before it. Nigerians will be waiting to hear how the senate deals with the issues. But the coming of AbuOhwavborua, many believe, is to offer a breath of fresh air into the commission. Untainted by the unsavoury acts of the commission, the new acting Managing Director should have no time to waste in restoring the confidence of both the people of the Niger Delta in general and Mr President in particular, that he is ready to hit the ground running. The speech of Mr President in Uyo, last December should be Ohwavborua’s operational manual. Niger Delta people should feel and savour the impact of the commission, which is basically an interventionist agency for the people of the region. They cannot literally be sitting by the bank of River Niger and be washing their hands with spittle. For over four or more years now, commuters travelling between Benin (Edo State) and Warri/ Port Harcourt go through a gruelling experience crossing the Ologbo end of the East-West road. It is red hell when the rains fall. Neither the Edo State government, nor the federal Ministry of Works has bothered to make life less hazardous for travellers on this route. What is an interventionist agency in place for if it cannot rise to the occasion in such a matter, for its people? Many lives have been lost on that portion of the road, not to talk of the excruciating man hours lost by travellers, year in, year out. The East West road itself has lasted for over 40 years, and it remains uncompleted. Yes, it is a mega project, perhaps beyond the scope and capacity of the commission, but perhaps the new helmsman should be reminded that there was a time the NDDC undertook maintenance of the East West road, for the ease of the travellers. Presently, the ravaging flood has cut off parts of the East West road, just as many communities in Bayelsa, Rivers, Delta and Edo States have been sacked by the angry flood. It should be a time the victims of the flood should hear from their NDDC too. It should not only be politicians, angling for elective positions that should come to the aid of the flood victims. Given the feelers from the commission, it is obvious Ohwavborua is determined to make his impact felt in the commission, as his consultations and meetings are driving towards sweetening the awful experiences of the people of the Niger Delta.

Not exactly. Did you not hear the PDP presidential standard-bearer, telling his kinsmen in Kano, not to have anything to do with a Yoruba candidate or an Igbo candidate? In the same vein, the APC standard-bearer had told his Ekiti audience that it is he, Tinubu, that they know not an Hausa/Fulani man or an Igbo man, seeming to imply that the Ekiti voters should vote along ethnic and tribal lines…. Just the same thing Atiku Abubakar was telling his northern folks. Tinubu had also said he will not be shuttling between Nigeria and Dubai if he becomes the President, an indirect poke on Atiku who is often dashing out to either Dubai or France Those are clearly not examples of running issue-based campaigns.

Atiku

Governor Olusegun Mimiko of Ondo State who had accepted to be in the PDP presidential campaign council suddenly pulled out and aligned with Gov Wike against Atiku? Do you realise that three other sitting governors – Ikpeazu of Abia, Uguwuanyi of Enugu, Makinde of Oyo, are loyal allies of Wike? Five governors from four geo-political zones, you think it is a joke? Do you know Wike controls them on how to reason and argue? So, if five PDP sitting governors, plus two or more former governors decide to work against Atiku, can’t you see the wind is being taken out of Atiku’s sail?

But BolaTinubu recently released his manifesto titled Renewed Hope, wherein the entire gamut of the economy was dissected, unit by unit with comprehensive plans on what to do.

Look, don’t make a mountain out of a molehill. One credit you must give Atiku is that he is a strong uniﬁer. He has, all along, embraced the rapprochement approach. So many reconciliation meetings have been held and organized. Can’t you see Gov Wike is the hard-headed leper determined to spill the milk? After all, he has just one vote anyway!

My brother, do not be swept off your feet by the glitz of the document which appears to have been dutifully put together by university professors. It is one thing to have a beautiful manifesto and quite another to govern profitably. Didn’t President Buhari have a beautiful manifesto, garnished with 62 promises? Where are we now with his government?

Unifier my foot! You speak with offensive naivety. Those governors have a large control of their states. They are politicians with lots of appropriated funds (security votes, ecological funds, IGR etc.) at their disposal and they know how and when to deploy such funds for maximum impact. You can under-rate them at your own risk.

But Atiku seems to have a more practicable understanding and solution to the problems of the country. Have you seen his manifesto? He was the very ﬁrst to release his plans.

I think the party leadership has been completely browbeaten into submission. Were it not so, these errant governors should be sanctioned for anti-party activities and pronouncements. Is it not the height of anti-party for a governor to openly declare that he is going to work against the presidential candidate of his party? What is more, many of the governors are running for one election or the other under the auspices of the same party they are denigrating and defying. Should common sense not demand that they sheathe their swords, at least, till a more auspicious time? Why are they determined to cut their noses to spite their faces? I can’t imagine any state governor, daring to challenge Adisa Akinloye in the NPN of the second republic. Or speak against the collective interest of the party for whatever reason. What is all this gubernatorial exuberance!

I say you should leave Manifesto matter alone. Manifesto is one thing, godly governance is another. In any case, the manifesto is only relevant when you win the election. Can’t you see all the problems Atiku is facing from within and outside his party? Which Problem? Is it the GovWike cross or what? Can’t you see the PDP has moved on with or without Wike? Wike is a cross.The entire party has to bear it. He is a bull in a China shop.They have to devise strategies of guiding him out of the shop so he does not cause destruction. You do not understand the damage Wike can cause the party. Did you know he has declared that he won’t campaign for Atiku, but work with and for an opposition party in the presidential election? That Atiku disrespected him by appointing “enemies of Rivers PDP” into his presidential council without consulting him (Wike). Do you know that even Gov Samuel Ortom of Benue State, an ally of Gov Wike, has also declared that he will neither campaign nor vote for Atiku in his state, for announcing in Kaduna State that he (Ortom) was maligning Fulani cattle rearers? Do you know that even former

After speaking your grammar and getting angry here, you will see that the language on the field will not be what you are saying here. Look, I swear, if Atiku does not mend fences fast, they will all meet at Philippi, and you know what that means. The Holy Book says,Thou shalt not swear! Mr Catechist, thank you!

IMAGES

T H I S D AY ˾ DAY ͰͶ˜ ͰͮͰͰ

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

Independent National Electoral Commission (INEC) Chairman, Prof Mahmood Yakubu (left), welcoming the National Chairman, Action Democratic Party (ADP), Yabagi Sanni (right), during the quarterly consultative meeting with political parties, while other party chairmen watch keenly, in Abuja…recently PHOTO: JULIUS ATOI

L-R: A journalist, Kennedy Mbele; Medical Director, SE Medical Clinics, Dr. Stanley Dikedi; Nigeria Country Head, Max Group of Hospitals, Saravanan Arimuthu; Senior Lecturer/Consultant Gastroenterologist, Olabisi Onabanjo University Teaching Hospital, Ogun State, Dr. Adeleye Olufunke; and Max Group Assistant Marketing/Sales Manager in Nigeria, Oluseyi Emmanuel, at the unveiling of a Liver Transplant Unit by Max Group of Hospitals in Lagos…recently

Member, Government College Ughelli Old Boys Association (GCUOBA), Ben Umuteme; Vice President 1 GCUOBA worldwide, Chief Albert Akpomudje (SAN); President-General, GCUOBA Worldwide, Charles Majoroh; Vice President 4, GCUOBA Worldwide, Chief Clement Djebah; and another GCUOBA member, Godswill Iyama, during the association ninth Annual National Dinner, held in Lagos…recently

L-R: Public Relations Specialist, 9mobile, Joshua Oluranti; Lead Consultant, Addefort Limited and Conference Convener, Olabamiji Adeleye; PR Lead, 9mobile, Chineze Amanfo; and Chairman, Lagos State chapter of the Nigerian Institute of Public Relations, Comfort Obot Nwankwo, at the ninth Lagos Public Relations Stakeholders’ Conference on Leadership and Poverty Eradication, held in Lagos...recently

L-R: Former Governor of Adamawa State, Boni Haruna; former Peoples Democratic Party (PDP) gubernatorial candidate, Edo State, Kenneth Imansuangbon; and Bauchi State Governor, Alhaji Bala Mohammed, during the PDP presidential campaign ﬂag-oﬀ in Uyo, Akwa Ibom State…recently

National Coordinator, SERVICOM, Mrs. Nnenna Akajemili (left), receiving a souvenir from the National Youth Service Corps (NYSC) Head of Reforms Unit, Mr. Chiwendu Chukwu (right), during a one-day symposium to mark the NYSC Customer Service Week held at the National Directorate headquarters in Abuja…recently

L-R: Lagos State Sector Commander, Federal Road Safety Commission (FRSC), Olusegun Ogungbemide; Corporate Affairs Director, Nigerian Breweries Plc, Sade Morgan; Chairman, Beer Sectoral Group of the Manufacturer Association of Nigeria, Baker Magunda; Deputy Corps Marshal, FRSC, Victor Nwokolo; Managing Director, International Breweries Plc, Hugo Rocha; Corporate Affairs Director, International Breweries, Temitope Oguntokun; Corporate Affairs Director, Guinness Nigeria, Rotimi Odusola; and Head of Engagement, Beer Sectoral Group of the Manufacturer Association of Nigeria, Joshua Nwachukwu, at the launch of ‘2022 Don`t Drink and Drive Campaign’ in Lagos...recently

FRIDAY OCTOBER 28, 2022 • T H I S D AY

T H I S D AY ˾ FRIDAY, OCTOBER 28, 2022

BUSINESS/MONEYGUIDE

EY Harps on Effective Collaboration for Improved Service Delivery Gilbert Ekugbe EY Microsoft 365 Services has emphasised the need for organisations to deploy effective collaborations to deliver improved services to their clients especially in a world that is fast tilting into a knowledge-based economy. The Assistant Director, Technical Lead of EY Microsoft 365 Services, Usman Abubakar Ehimeakhe, in a statement said building a better working world rests on effective and efficient teamwork. “We need strong security, but we also need great collaboration. Collaboration is a multifaceted process that requires exquisite attention to protecting not only internal EY data, but that of its clients, partners, and other external parties. The EY organization relies on trust among its stakeholders, so we must protect our data with the highest possible degree of integrity. That is one of the reasons why we use Microsoft solutions,”

he stressed. “The organization carefully protects that trust, which is why it focuses on making collaboration as secure as possible,” he averred. Sharing his thoughts on how to safeguard collaboration, Ehimeakhe said three goals to safeguarding collaborations is to block oversharing of data, prevent sharing sensitive personal data, and control exfiltration. “Those goals seemed to clash with EY professionals’ need to collaborate with non-EY team members and desire to invite guests to use relevant applications and data with as close to the same streamlined workflow that professionals use with internal colleagues. EY professionals had begun using Microsoft 365 Groups, a feature that spans the Microsoft 365 applications for easy workgroup coordination, to collaborate with non-EY parties,” he added. Finding a balance is an ongoing test for his team,

pointing out that the challenge goes beyond the many people who need access to EY assets, but warned that constantly growing threat landscape demands constant vigilance and strict security measures. “Yet tens of thousands of clients and other external players require access for varying terms, creating a constantly shifting population whose access must be carefully orchestrated for the right assets at the right time,” he added. The Assistant Director said the organisation did not need to buy additional data privacy management software from another vendor because the answer—Microsoft Purview Information Protection was already available in its Microsoft 365 E5 license, saying that when the COVID-19 pandemic struck early in the information protection rollout, EY teams worked with Microsoft to fast-track the rollout and safeguard online collaboration for the company’s professionals across the globe within days.

L-R: Production Manager for BIC Nigeria, Abiola Bankole; Country Business Development Manager and Head of Commercial at Lucky Stationery Nigeria Limited,Adeyemi Ojo; General Manager for BIC in Nigeria, Guillaume Groues; Plant Director,Peter Ajakaiye and Human Resources Manager, Oladimeji Sodunke during a facility tour of BIC Nigeria production plant in Sagamu, Ogun State...recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

AUGUST 2022

Coronation Wants More Nigerians to Embrace Balanced Funds

Money Supply (M3)

49,356,443.6

Nume Ekeghe

-- CBN Bills Held by Money Holding Sectors

50,601.36

Money Supply (M2)

49,305,842.3

-- Quasi Money

27,869,678.3

-- Narrow Money (M1)

21,436,164

Coronation Asset Management Limited and Coronation Securities Limited have highlighted the need for more Nigerians to embrace balanced funds in a bid to preserve their investments and savings. The financial institutions convened a panel of investment experts recently to interrogate risk and growth in Nigeria’s currently volatile, high-interest rate investment environment. The virtual event, themed, “Best of Both Worlds from Equities and Fixed Income – a Balanced Fund,” featured an address delivered by Mounir Bouba, chief investment officer of

Coronation Asset Management; and a panel of discussants made up of Sunmbo Olatunji, group treasurer of Access Bank; Dele Akintola, chief commercial officer of Alerzo; Taiwo Olatunji, head of investment vanking at Coronation Merchant Bank. It was moderated by ‘Jibola Odedina, chief executive officer of Coronation Securities as moderator. In his welcome address, Managing director/chief executive officer of Coronation Asset Management, Aigbovbioise Aig-Imoukhuede, in a statement noted that the net asset value of Nigerian mutual funds has grown by 30.9 percent since 2012, largely driven by growth in

money market funds and fixed income funds. He noted that balanced funds which leveraged both equities and fixed income asset classes grew by 5.8 percent over the same period, accounting for only 2 percent of the net asset value of Nigeria’s mutual fund industry. “Given the ability of balanced funds to deftly integrate risk management with growth, it was surprising, especially in the current high-risk environment characterised by value erosion and elusive growth, that more Nigerians were not considering balanced funds,” said Aigbovbioise.

Honeywell Group Joins Commonwealth Enterprise and Investment Council as Strategic Partner Dike Onwuamaeze Honeywell Group, a leading Nigerian investment holding company, has been announced as a strategic partner of the Commonwealth Enterprise and Investment Council (CWEIC) while its Managing Director, Mr. Obafemi Otudeko, was also announced as a member of CWEIC’s Global Advisory Council. A press release that was issued by the Honeywell Group on Tuesday stated that the CWEIC’s Chairman,

Lord Marland of Odstock, who made the announcement, said: “I have great pleasure in welcoming Honeywell Group as a Strategic Partner of the CWEIC. It is an honour to welcome you to the CWEIC network.” The CWEIC, which is a not-for-profit commercial organisation with a mandate from Commonwealth Heads to facilitate trade and investment throughout the Commonwealth Nations, boasts almost 100 business and government strategic partners from 30

countries and territories. Otudeko, who responded to the announcement, said that Honeywell Group has “a history of establishing impactful cross-sector partnerships that create valuable opportunities and drive sustainable growth in Africa and beyond. “We are excited about our partnership with CWEIC as this will enable us to engage with a more extensive network of international partners focused on establishing growth-driven enterprises across the Commonwealth.”

Felicia Mogo Bags UN Appointment The United Nations (UN) has appointed Dr Felicia Mogo as a member of group of experts for the regular process for global reporting and assessment of the state of the marine environment and socio-economic activities. It is a-four year tenured appointment. In a statement Mogo said, ’With a very grateful heart to God Almighty, I wish to inform you of my appointment by UN headquarters,New York,

United States of America on an African seat as A Group of Experts member(Experts on Mission). “UN Regular Process on Global Assessment of the marine environment and socio-economic. It is quite an iconic position and I am humbled to be found qualified for that by God’s grace”, she added. According to a terse statement from the global body, “During her discharge of duties to the UN, Dr Mogo

would join other experts on mission for a period of four years ( 2021-2025) to oversee the preparation of assessment(s) of the state of the marine environment and socioeconomic aspects.” The group of experts for the first cycle was established in 2012 and the group of experts for the second cycle was constituted in 2016. The work of the group of experts for the third cycle 2021-2025 is currently on, the statement noted.

---- Currency Outside Banks

2,680,236.81

---- Demand Deposits

18,755,927.2

Net Foreign Assets (NFA)

5,074,909.92

Net Domestic Assets(NDA)

27,869,678.3

-- Net Domestic Credit (NDC)

61,195,142.4

---- Credit to Government (Net)

21,001,401.5

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

40,193,740.9

--Other Assets Net

6,785,979.22

Reserve Money (Base Money

14,040,351.9

--Currency in Circulation

3,210,664.98

--Banks Reserves --Special Intervention Reserves

10,829,686.9 390,557.8

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

July 2022

Inter-Bank Call Rate

13.00

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

14.00

Treasury Bill Rate

2.76

Savings Deposit Rate

1.42

1 Month Deposit Rate

3.64

3 Months Deposit Rate

4.96

6 Months Deposit Rate

5.87

12 Months Deposit Rate

5.76

Prime Lending rate

12.10

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 24 OCTOBER, 2022

The price of OPEC basket of thirteen crudes stood at $92.17 a barrel on Monday, compared with $92.09 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ FRIDAY, OCTOBER 28, 2022

MARKET NEWS

GTCO Declares N169.7bn Profit BeforeTax in 9 Months KayodeTokede Guaranty Trust Holding Company Plc (GTCO) has released its unaudited result and accounts for nine months ended September 30, 2022 with N169.7billion profit before tax, an increase of 12 per cent from N151.9billion recorded in the corresponding nine months ended September 2021. The financial institution in its announcement on the Nigerian Exchange Limited (NGX) reported

N130.35billion profit after tax in nine months of 2022, representing an increase of 0.73per cent from N129.4billion reported in nine months of 2021. The Group’s loan book (net) increased by 2.2 per cent from N1.80trillion recorded as at December 2021 to N1.84trillion in September 2022, while deposit liabilities increased by 6.4per cent from N4.13trillion in December 2021 to N4.39trillion in September 2022.

P R I C E S MAIN BOARD

F O R DEALS

The Group’s balance sheet remained well structured and resilient with total assets and shareholders’ funds closing at N5.81trillion and N872.8billion, respectively. Strong Capital Ratios and asset quality were sustained as CAR, NPL ratio, and Cost of Risk (COR) closed at 20.7per cent, 5.6per cent, and 0.2per cent in September 2022 from 23.8per cent, six per cent, and 0.5per cent in December 2021,

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

respectively. Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO Plc), Mr. Segun Agbaje, in a statement said, “The Group’s 3rd quarter result reaffirms our strategy for long-term growth and underscores our capacity to deliver sustainable strong performance despite the volatilities in our operating environment. “We have also kept in focus our vision of supporting small

T R A D E D MAIN BOARD

A S

and medium enterprises specifically through our free business platforms to help them stay in business and expand their offerings. “With our non-banking businesses fully operational alongside our core banking subsidiary, we are well positioned to maximise our earnings potential going into the 4th quarter of the year.” He further stated; “In creating a thriving financial services ecosystem, our goal is to offer

O F

great experiences to all who interact with our brand whilst continually enhancing access to innovative financial solutions for individuals and businesses across Africa. “We are appreciative of all our customers and other stakeholders who are with us on this journey of building a truly global African financial services institution.” Overall, the Group continues to post one of the best metrics in the Nigerian financial services industry in terms of key financial ratios.

2 7 / 1 0 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

T H I S D AY • FRIDAY, OCTOBER 28, 2022

ʬ ʬ ʬ

7 R S 7 U D G H V E \ 9 R O X P H

7 R S * D LQ H U V

10.0%

M B EN EF IT

47.4

0.0%

SUN UA SSUR

0.35

9.4%

ST ER LN B A N K

24.4

2.6%

J A IZ B A N K

0.97

9.0%

J A IZ B A N K

10.6

9.0%

8.5%

F ID ELIT YB K

10.3

-1.9% -0.5%

6.40

R T B R ISC OE

0.30

7.1%

GT C O

6.3

SOVR EN IN S

0.26

4.0%

Z EN IT H B A N K

5.3

-1.3%

J A P A ULGOLD

0.28

3.7%

A C C ESSC OR P

4.7

0.0%

ST ER LN B A N K

1.56

2.6%

M TNN

4.4

-0.3%

T R A N SC OR P

1.07

1.9%

T R A N SC OR P

3.2

1.9%

N IGER IN S

0.20

0.0%

UB A

2.7

0.0%

T ic k er R OYA LEX

Afrinvest West Africa Limited

P ric e C hg %

68.20

7 R S 7 U D G H V E \ 9 D O X H

7 R S / R V H U V

Vo lum e

P ric e

B UA C EM EN T

UB N

T ic k er

P ric e 0.75

T ic k er

Value

P ric e C hg %

-9.6%

A IR T ELA F R I

1015.0

0.0%

P ric e C hg %

M ULT IVER SE

4.20

-8.5%

M TNN

848.0

-0.3%

M A YB A KER

3.92

-6.7%

GT C O

115.7

-0.5%

C OR N ER ST

0.48

-5.9%

Z EN IT H B A N K

105.0

-1.3%

N GXGR OUP

20.55

-4.4%

B UA C EM EN T

85.8

10.0%

FB NH

9.20

-4.2%

72.3

0.0%

H ON YF LOUR

2.32

-3.3%

N EST LE

60.8

0.0%

UC A P

12.15

-2.8%

OKOM UOIL

49.4

0.0%

43.6

-4.4%

37.9

-1.9%

UN ILEVER

10.50

-2.8%

N GXGR OUP

F ID ELIT YB K

3.68

-1.9%

F ID ELIT YB K

Investment Research

Brokerage

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T H I S D AY • FRIDAY, OCTOBER 28, 2022

NEWS

SANWO-OLU'S BUDGET OF CONTINUITY... L-R: Lagos State Deputy Governor, Dr Obafemi Hamzat; Governor Babajide Sanwo-Olu; wife of the Speaker, Lagos House of Assembly, Mrs Falilat Obasa, Rt Hon Mudashiru Obasa; his Deputy, Hon Wasiu Sanni Eshinlokun; Majority Leader, and Hon Sanai Agunbiade, during the presentation of the Y2023 Budget Estimates to the State House of Assembly, at the Assembly complex, Alausa, Ikeja... yesterday

In Korea, Buhari Expresses Delight as NNPC, Daewoo Seal Deal On Kaduna Refinery Rehabilitation Deji Elumoye in Abuja and Peter Uzoho in Lagos President Muhammadu Buhari yesterday in Seoul, South Korea, expressed delight as he witnessed the signing of the Memorandum of Understanding (MoU) between the Nigerian National Petroleum Company (NNPC) Limited and Daewoo Group of South Korea for the rehabilitation of the Kaduna Refinery. Buhari was in South Korea with the Minister of State for Petroleum Resources, Chief Timipre Sylva; and the Group Chief Executive Officer of NNPC, Mallam Mele Kyari. The president, according to series of posts on twitter, was particularly excited as the signing came against the ongoing rehabilitation works at the Warri Refinery by the same Daewoo Group, which was expected at the first instance, to deliver production before the first half of 2023. The agreement was signed on the sidelines of the 2022 World Bio Summit in Seoul, South Korea during which Buhari had bilateral meeting with his South Korean counterpart, Yoon Suk Yeol. According to Buhari, “Daewoo Group has massive investments in the automobile, maritime and other sectors of our economy. I

am also aware that Daewoo is currently engaged in the execution of the NLNG train seven project and also constructing sea-going LPG vessels for NNPC and her partners.” He said he, "looked forward to the delivery of ongoing projects, especially at the Warri and Kaduna refineries, and the NLNG Train Seven,” stressing that “This no doubt will open many more windows of opportunities for Daewoo and other Korean companies in Nigeria. “I thank you for your faith in Nigeria,” President Buhari told the Korean conglomerate at the end of the significant ceremony on the last day of his visit to the Asian country to attend the First World Bio Summit." The 110,000 barrels per day (bpd) capacity Kaduna Refinery is one of Nigeria’s four dysfunctional refineries that have produced no fuel for years, leaving the country to rely on imported products. The biggest state-run refinery, which is Port Harcourt, is currently undergoing repairs handled by Tecnimont of Italy. The government said it expects the plant to start production by December 2022. The Federal Executive Council had in August last year approved the award of the contract for the

rehabilitation of Warri and Kaduna Refineries at the combined total sum of $1.5 billion. He said Daewoo was also repairing the Warri plant, which will at the first instance deliver fuel before the first half of 2023. Buhari at the end of the signing ceremony, which occured on the last day of his visit to the Asian country, thanked Daewoo for having faith in Nigeria. However, the NNPC GCEO had tweeted earlier yesterday on his verified tweeter handle that company was progressing its refinery rehabilitation agenda and had endorsed the Letter of Intent (LOI) for the revision of the quick fix for the Kaduna Refinery with Daewoo. "We are progressing our refinery rehabilitation agenda. We endorsed the LOI for the revised strategy of quick fix for the Kaduna Refinery with Daewoo in Seoul. Mobilisation to site to commence shortly. Rehabilitation activities on Port Harcourt and Warri continuing. We are poised to deliver," Kyari said. He had tweeted on Wednesday that he was privileged to accompany the president for his bilateral meeting with the South Korean leader. He had added that NNPC would follow up Buhari's

continuing commitment to deepen energy industry collaboration with Korean partners. Buhari also yesterday reiterated Nigeria’s commitment to stabilizing the country’s democratic system. Speaking while meeting with the Speaker of the National Assembly of the Republic of Korea, Mr. Kim Jin-Pyo, on the sidelines of the World Bio Summit 2022, the president declared that the successes achieved in the recent off-season elections in Anambra, Ekiti and Osun States, confirmed that the people of Nigeria have approved the democratic form of government. According to him, “We are proud that our patriotic people are given the right to choose who will govern and represent them in the various legislative houses at state and federal levels.” Recalling his political journey dotted with several attempts and court cases to clinch the presidency, Buhari praised the introduction of technology, especially the use of Permanent Voter’s Cards (PVCs) for his eventual success at the polls, while noting that the diversities introduced by the colonial history of Nigeria unlike in Korea, have not made governance easy. He also commended the

Wabote Charges Nigerian Oil Service Firms on Diversification, Energy Transition Peter Uzoho The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote has emphasised the need for Nigerian oil and gas service providers to widen the application of their services to other sectors of the economy instead of solely relying on the oil and gas sector. Noting the cyclical nature of the oil and gas industry, he stressed that every discerning service company needed to have a model to adapt to any prevailing circumstance. Wabote gave the charge in Lagos, yesterday, while inaugurating GIL Automations’ cable tray and switchgear factory and the opening of its new building. He said the ongoing energy transition further underlined the necessity for companies to

think differently and acquire new capabilities, to enable them operate successful in the energy transition environment, without being unduly worried about their survival. He recalled that companies converted their factories at the peak of COVID-19 to produce some of the needed items at that time, adding that, “this same ingenuity is required of the service companies to take a look at their service equipment, modelling software, personnel and other assets to check the opportunities they are over-looking due to being fixated on contracts from the oil and gas industry. "If they don’t meet these criteria, they would not have partnership with Siemens. The association is not by compulsion; it is not by provisions of the Act. They see a mutually beneficial relationship in

the type of service they provide," he added. The company offers an array of services in electrical and automation services, switchgear manufacturing and panel solutions as well as process management and flow control. Wabote lauded GIL Automation for expanding from the provision of service to manufacturing, noting that such progression showed that Nigerian oil and gas service companies were taking up the challenge to grow their outfits and contribute to the development of incountry capacities and capabilities, providing key services for the sustenance and growth of the industry and its linkage sectors. "The business shift from service to manufacturing of electrical and automation components under your leadership is a very strategic move that we are very excited

about," he stated Wabote remarked that GIL Automations had developed capacity to provide world class services across the oil, gas, manufacturing and power industries, and created a niche for industrial automation, instrumentation, electrical, control, communication and safety systems. "The extension of the company capacities to other sectors helps to meet the strategic initiatives established under the Nigerian Content 10-year Strategic Roadmap, he said. “As an ISO9001 certified local manufacturer of low voltage Electrical products in line with international standards, the products are not only meant for local market, but also in high demand within the regional and continental markets," the executive secretary added.

resourcefulness of the Korean shipping industry, and thanked the host government’s assistance towards the rehabilitation of Nigeria’s infrastructure, describing it as “crucial.” Declaring that Nigeria was trying to be self-sufficient in many areas due to her huge population so that she can be of help to other countries in the sub-region as well, President Buhari affirmed that good education and health are “very critical and fundamental to our state of development.” According to him: “We are doing our best to see what government can provide and hope the people appreciate our efforts.” Earlier in his welcome remarks, the Speaker thanked Buhari for his first visit to the Korean Parliament and commiserated with Nigeria over the havoc caused by floods. Describing Nigeria as a “cultural power house” rich in population, natural resources and high GDP,

Mr. Jin-Pyo, said the Korean Parliament valued its relationship with Nigeria and loved to see increased “people-to-people” interactions. According to him, under President Buhari’s leadership, the Republic of Korea was able to grow bilateral trade with Nigeria by 30 per cent last year, and looked forward to expanded trade under the African Continental Free Trade Agreement (AfCFTA) regime. The Speaker expressed his government’s readiness to assist Nigeria in human capacity building, while requesting for support as Korea planned to host EXPO 2030 in Busam, adding that he believed many Nigerian companies would attend. He thanked the Nigerian President for addressing the World Bio Summit and commended Nigeria’s choice as a manufacturing hub for vaccines with Korea ready to provide requisite staff training.

PIA: NNPC Merges Subsidiaries, Renames Others Emmanuel Addeh in Abuja

The Nigerian National Petroleum Company Limited (NNPC) has collapsed some of its subsidiaries in a bid to assume its new status as a commercially driven business entity. THISDAY gathered that after the renaming of the National Petroleum Investment Management Services (NAPIMS), as the NNPC Upstream Investment Services (NUIS), earlier , a number of the company’s business units and subsidiaries have now been merged. With the development, NUIS has now added a segment of the erstwhile Crude Oil Marketing Division (COMD), while the Nigeria Petroleum Development Company (NPDC) has been restructured and renamed NNPC Exploration and Production Limited (NEPL). To adjust to its new operations under the Petroleum Industry Act (PIA), the Integrated Data Services Limited (IDSL), NNPC Oilfield Services Ltd, Frontier Exploration Services have also been merged to form NNPC Energy Services Ltd under the new nomenclature, NNPC Enserve. Furthermore, the National Engineering and Technical Company (NETCO) is now a full-

fledged Engineering, Procurement and Construction (EPC) company under the brand name NNPC Engineering & Technical Company (NETCO). On July 19 this year, the NNPC was officially unveiled as a limited liability company operating under the Companies and Allied Matters Act (CAMA), after being tied to the apron strings of the federal government for about 45 years. Earlier, the state oil company had named five executive vice presidents, with the Group Executive Director, Upstream, Adokiye Tombomieye being made the Executive Vice President (Upstream), while the Group Executive Director, Downstream, Mr. Adeyemi Adetunji took the role of Executive Vice President (Downstream). Also, the Executive Director, Gas and Power, Abdulkabir Ahmed, became the Executive Vice President, Gas, Power and New Energies; while Inuwa Danladi was named the Executive Vice President, Business Services. In the same vein, Mrs. Oritsemeyiwa Eyesan took the role of Executive Vice President, Corporate Strategy and Sustainability; while Chidi Momah became the General Counsel for the national oil company.

FRIDAY, OCTOBER 28, 2022 • T H I S D AY

NEWS

ATIKU'S DELEGATION LANDS IN THE US... L-R: Former Aviation Minister, Osita Chidoka; former Governor of Imo, Emeka Ihedioha; former Senate President, Dr. Bukola Saraki; Presidential Candidate of the PDP and former Vice President, Atiku Abubakar; Sokoto State Governor and DG PDP presidential campaign, Aminu Tambuwal; Minority Leader of the House of Representatives, Ndudi Elumelu and Kenneth Imansuangbon, during the arrival of the PDP presidential candidate in Washington DC, United States…yesterday

US Business Community Invites Atiku for Bilateral Meeting Emmanuel Addeh in Abuja The US-Africa Business Centre (USAfBC) of the United States Chamber of Commerce has invited the presidential candidate of Peoples Democratic Party (PDP), Abubakar Atiku, for a

bilateral meeting during his upcoming visit to that country. A letter by the president of the group, Scott Eisner, to the former vice president, on behalf of USAfBC, stressed that during the meeting, it intended to discuss how the US corporate

community could support Nigeria. Eisner said in the letter to Atiku, “I would like to extend to you an invitation for a bilateral meeting with the US Chamber of Commerce’s US-Africa Business Centre during your visit to the

United States. “We would like to propose the meeting to be held on Tuesday, November 1, 2022, from 9:30 am to 10:30 am, at the US Chamber of Commerce headquarters in Washington DC.” Representatives of the US

business community said they would be happy to consider an alternative date if the proposed date was not suitable. “Indeed, we would be honoured to welcome you for an off-the-record discussion to hear your perspective on how

FBN Holdings Doubles Q3 2022 PBT, Records N105bn Kayode Tokede

FBN Holdings Plc yesterday on the Nigerian Exchange Limited (NGX) announced that its profit before tax (PBT) doubled to N105.5 billion in its unaudited financial statement for the nine months ended September 30, 2022, compared with the N52.9 billion reported in the corresponding period of 2021. The holding company also grew its profit after tax to N91.2 billion in nine months of 2022, representing an increase of 123.6 per cent year-onyear (y-o-y) from the N40.8 billion reported in nine months of 2021. The increase in profit was attributed to a double-digit increase in gross earnings and interest income. FBN Holdings announced N547.2billion gross earnings in nine months of 2022, representing an increase of N432.6billion compared to the nine months results it posted in 2021, while its interest income hit N370.4billion in nine months of 2022, an increase of 26.6 per cent y-o-y from N260.1billion reported in nine months of 2021. The financial position of FBN Holdings contributed to impressive performance in the period as total assets closed September 30, 2022, at N9.85 trillion, representing an increase of 10.3 per cent y-o-y from N8.93 trillion in full year ended December 31, 2021. The holding company reported N3.6 trillion net customer loans & advances as of September 30, 2022, from N2.88 trillion in 2021; just as its customers’ deposits rose by 12.8 per cent y-o-y to N6.6trillion as of September 30, 2022 from N5.85 trillion reported in 2021financial year. Commenting on the results, the Group Managing Director, FBN Holdings, Mr. Nnamdi Okonkwo in

a statement said, "FBNHoldings has again in Q3 2022 delivered a stellar performance, growing sustainable income from our core businesses. This is a testament to the success of our focus on carefully growing the business and driving profitability. “As a result, Gross earnings grew 26.6per cent y-o-y to N546.2 billion, while profit before tax doubled y-o-y to N105.5 billion. I am particularly delighted by the significant improvement in our credit risk portfolio. “Specifically, the NPL ratio closed at 4.7per cent within the regulatory threshold of five per cent, while the coverage ratio increased to 75.1per cent from 62.2per cent in FY 2021. “Furthermore, during the period under review, in attestation of the progress made by the Group, Fitch upgraded the credit ratings of FBNHoldings and FirstBank to 'B' with a Stable Outlook. “Value creation remains our overarching objective as we continue to leverage the strengths of our unique brand and heritage to optimise our diverse business portfolio. He added that, “We are confident of making further progress, with the capacity to generate sustainable performance that delivers superior returns to all our stakeholders." The banking subsidiary also showed impressive performance in period as Profit before tax moved to N96.4 billion in nine months of 2022, up 119.1 per cent y-o-y from N44 billion reported in nine months of 2021, while profit after tax closed nine months of 2022 at N85.7 billion, representing an increase of 142.1per cent from N35.4 billion reported in nine months of 2021. According to the Chief Executive Officer of First Bank of Nigeria Limited (Commercial Banking

Group), Dr Adesola Adeduntan, "The performance of the Commercial Banking Group for the nine months ended September 30, 2022, has again shown that the Group is making progress in the pursuit of its 'Quantum Profitability Leap' agenda. The improved profitability during the period under review further reinforces the Bank's commitment to its growth aspirations despite the challenging market conditions. “Our gross earnings are up 27.5per cent y-o-y to N512.9 billion, and net interest income up 55.7per cent y-o-y to N248.5 billion respectively. “On the back of the impressive growth recorded in our top line, our profit before tax recorded another strong growth of 119.1per cent y-o-y to N96.4 billion, whilst profit after tax

also grew impressively by 142.1per cent y-o-y to N85.7 billion as the Bank continues to reap the benefits of the changes to our business model in addition to revamping of our risk management and control architecture.” He added that, “We continue to record progress in driving down our non-performing loan ratio, which has now come down to 4.86 per cent at the end of the third quarter, within regulatory limit of five per cent. This is the first time since 2015 that we would be within the regulatory limit, and we achieved this ahead of our initial target of Q4 2022. “In further testament to the ongoing turnaround and repositioning of the Parent and Banking Group, Fitch, following

the conclusion of their review during the quarter, announced the upgrade of FBNHoldings and FirstBank's Long-Term Issuer Default Ratings (IDRs) to 'B' from 'B-', with Outlook Stable. This has aligned our credit rating to our Tier 1 peers and the sovereign and has further positioned the Group for more market opportunities. “We remain confident that as we go into Q4 2022 and plan for the new year, we will continue to strengthen our franchise capabilities and offerings across all our markets, not only to withstand the current headwinds but also continue to deliver top-end value-adding products and services to our esteemed customers and other stakeholders."

the US corporate community can best support Nigeria’s economic development, especially the opportunities for expanding the economic partnership between our two nations,” the group added. It explained the US Chamber of Commerce remained the largest business advocacy organisation in the world, operating in all 50 states and in over 100 countries to promote free enterprise and advance American trade and investment globally. USAfBC also said that it represented companies of every size and from every sector, working with state and local chambers and over 100 ‘AmChams’ around the world, including the American Business Council (ABC) in Nigeria. If stated that it was the only institution of its kind representing the interests of both the US and African business communities, stressing that it remains vocal advocates for increased bilateral and regional trade with African nations. “ We are proud to represent the largest US investors in Nigeria,” USAfBC stated. Recognising the many demands of the PDP presidential candidate’s schedule, the group said it would appreciate Atiku’s consideration of the invitation. “We will follow up with your office directly,” the group said.

COALITION OF POLITICAL PARTIES HAILS CBN’S PLAN TO REDESIGN NAIRA NOTES on Anti-Corruption and Financial Crimes. He said, "We welcome the policy. It is a good thing that the country is redesigning its currency now. How can you have an effective monetary policy, when you don’t have control of 85 per cent of your currency? “People are hoarding and using it to speculate for foreign exchange. By coming with this policy, the government is trying to curtail that and ensure that those people that are bringing back all these monies, whether legitimately or illegitimately,” were monitored, “and then the law will take its course.” Bawa dismissed the alleged plan by Internet fraudsters to stage nationwide protests against the anti-graft body, saying such action would not stop the commission from fighting against cyber-crime. He stated, “These are Nigerians from my own constituency – the

youthful constituency. They should join me in fighting the scourge of cyber-crime. It bleeds my heart when they are doing some things that ordinarily they should not do. “We are working. It is part of our mandate to fight cyber-crime and advance fee fraud and those are things we have been doing. We are working in conformity the law. “As at the 22nd of October his year, we have succeeded in securing 2,847 convictions and over 70 per cent of them had to do with the issue of cyber-crime. “The activities of these cyber criminals is tarnishing our image by the day. Across the Atlantic, people are trying to see us as a cyber-crime infested country, which I believe we are not, and it is based on, maybe, the high number of the population that you tend to see that we are doing one or two things in that area. “But we are working. We are not deterred. We will continue

to do what we have to do. I am pleading with them that they shouldn’t be doing things at this part of the transition of the country in terms of elections and in terms of government’s effort in trying to see that the country is back on track.” The EFCC boss also promised to collaborate with the Independent National Electoral Commission (INEC) in order to curb vote buying during the 2023 general election. He said the commission would work closely with INEC to ensure strict compliance with the Electoral Act by the politicians. According to him, “The Electoral Act has already made provisions for what is financially acceptable in campaign financing and I think that is the law of the land. “Nigerians are law-abiding and the EFCC is working towards ensuring that all of that is complied with by all Nigerians and politicians and we are working with INEC

and other stakeholders to ensure that happens. “We will continue to do what we have to do. We are trying to be sure illegitimate funds are not finding their way into our own electoral processes. “And for those that are buying votes, we will continue to arrest them. We will walk hands in gloves with INEC to ensure that they are prosecuted.” Bawa had on Wednesday applauded the move by the CBN, describing it as “a well-considered and timely response” to the challenge of currency management, which had negatively impacted the country’s monetary policy and security imperatives. He had said, “The EFCC, the CBN and some other regulators in the financial sector have worked closely in the recent past to determine how best to stabilise the country’s monetary policy environment.

T H I S D AY • FRIDAY, OCTOBER 28, 2022

NEWS

DISCUSSING CYBERSECURITY... L – R: Representative of the Commandant, National Defence College, Abuja, Air Cmdr O.F. Akinboyewa; Chief Executive Oﬃcer, Nigerian Exchange Limited (NGX), Mr. Temi Popoola; Representative of the National Security Adviser, Major General Samad Akesode; Chairman Board of Directors, Central Securities Clearing System (CSCS) Plc, Mr. Oscar Onyema; Managing Director/CEO, CSCS Plc, Mr. Haruna Jalo-Waziri; Executive Commissioner, Operations, Securities and Exchange Commission (SEC), Mr. Dayo Obisan; Commandant, Nigerian Army Cyberwarfare Command, Abuja, Major General Abubakar Adamu, and Divisional Head, Sales and Business Development, CSCS Plc, Mr. Adeyinka Shonekan, during the CSCS Cybersecurity conference, Abuja…yesterday

Jonathan Visits Bayelsa Flood Victims, Calls for Support State govt to FG, NEMA: Victims need food not clothes Diri appreciates donors Olusegun Samuel in Yenagoa Former President , Dr. Goodluck Jonathan has called for support for victims of the devastating flood that has killed hundreds and destroyed several property in many states across the country. The former President in a statement released by his office yesterday, after he visited Otuoke, his community and other affected areas in Bayelsa State, lamented that this year’s heavy flooding resulted in an unprecedented humanitarian crisis in most affected states, adding that the situation required urgent action and collaboration by all stakeholders. Jonathan noted that many states are now helpless, including Bayelsa, his home state with more than 70 per cent of its land area already submerged. The former president said: “I sympathise with the victims of this year’s flood across many states of the federation who have lost loved ones and properties worth millions. “The worsening humanitarian crisis in the affected states calls for urgent action and collaboration by all stakeholders. “I am touched by the dire situation in some of the affected states, especially my home State Bayelsa where almost all the local government areas are submerged in water and the East-West Road section leading to the State has become impassable, creating scarcity of food and essential commodities.” He added: “Today, I visited Otuoke, my community and a few other communities in Bayelsa State to assess the impact of the flood. It is still a depressing situation in many of the affected communities because of the magnitude of the flood and the disruption and destruction it has caused. “This is a moment of crisis; we need to work in unity to achieve the goal of giving hope and providing succor to all victims. I urged all citizens of goodwill and humanitarian agencies to demonstrate solidarity with these victims and provide support to those affected.” Also, yesterday, Bayelsa State Government called on the federal government, the National Emergency Management Agency

(NEMA) and the Ministry of Humanitarian Affairs to be holistic in their response to the flood disaster victims especially because of the peculiarity of the state. According to the state, what the flood victims need most presently are food items because of the difficulties of transporting food to the state and not items such as clothes. The Chairman of the Bayelsa State Emergency Management Agency (BYSEMA) Walaman Igrubia, while responding to report that relief materials had been distributed to the state by the federal government through NEMA, said the state only started receiving non-food items from NEMA on Thursday. He stressed that what the state or the victims needed most right now was food items because of the difficulties of transporting food to the state. He said the report by the Ministry of Humanitarian Affairs and the Natural Disaster management agency, where it purportedly listed Bayelsa of one the state that had received relief materials was misleading, saying there was need to set the record straight. He said, "So far, we started getting relief materials from NEMA as of yesterday (Thursday), we got some items that were airlifted from Port-Harcourt down to Yenagoa. We received some 598 cartons of bathing soap, five bags of mosquitoes treated net, nine bail of Guinea brocade materials. "On inquiry, they said the food items are yet to come and that by today (Thursday), we should start getting the food items but I was still surprised that when they came, they brought non-food items." Igrubia gave the total numbers of non-food items received so far as 42 bail of Guinea brocade materials, four bags of men wears, five bags of women wears, two bags of children wears and 15 bags of mosquitoes treated net. "But I think what is necessary for us right now is the food items which are very important because of the peculiar situation we find ourselves. “A situation where we cannot get food through the roads because we are cut-off from both the

Port-Harcourt and Warri flanks or the East-West road. The state government had to airlift food from Lagos. "So what we need right now is food items so that people can see something to eat, most especially those at the Internally Displaced Persons (IDPs) camps across the state. "I think that as a government under a federating country like Nigeria which we all belong and we are all part of, there shouldn't be any hindrance to get us food or relief materials from the federal government, especially because of the situation we find ourselves. "I am the Chairman of BYSEMA, for me, looking at the assessment of NEMA, it is not encouraging. Looking at it very well, food is what people need, the non-food items can come later.”

Meanwhile, the National Emergency Management Agency (NEMA) South-south Zone in collaboration with the Nigerian Air Force said it has commenced the airlift of relief supplies to persons affected by flood disaster in Bayelsa. The operation was led by the Zonal Coordinator NEMA, South-south zonal office, Mr. Godwin Tepikor. The Nigerian Air Force was led by Group Capt. Abdulafiz Opaleye, Commander 115 SOG, Port Harcourt. The agency stated that the state was set to receive 1,400 bags of 10kg rice, 1,400 bags of 10kg beans, 1,400 bags of 10kg maize, 75 bags of salts (20kg), while non-food items were put at 8,000 pieces of nylon mats, 1,000 pieces of mosquito nets, 600 cartons of bath soap, amongst others. In a related development,

Bayelsa State Governor, Senator Douye Diri, has expressed appreciation to those that have supported the state as it grapples with the raging flooding. Diri, who spoke on Wednesday during the weekly state executive council meeting in Government House, Yenagoa, said the support received so far helped the state in its recovery process. A statement by his Chief Press Secretary, Mr. Daniel Alabrah, quoted the governor as assuring that funds and items received would be published in line with the transparent posture of his administration. The governor said he was grateful to the Labour Party presidential candidate, Mr. Peter Obi, for visiting the state last weekend, during which he made a pledge to support victims of the flood.

He also expressed gratitude to former Vice President Atiku Abubakar for his philanthropy and empathy shown to people of the state. Abubakar, who is the Peoples Democratic Party (PDP) presidential candidate, was in Bayelsa on Tuesday to visit victims of the flood and donated the sum of N55 million. Similarly, the Akwa Ibom State Governor, Mr. Udom Emmanuel, who visited one of the internally displaced persons (IDPs) camp at Igbogene with members of his cabinet on Wednesday, also donated N100 million on behalf his state government. Diri equally appreciated an illustrious son of the state, Dr. Azibapu Eruani, who he said pledged during his visit to support victims of the flood with food items worth N350 million.

Finally, Elon Musk Announces Buying Twitter in $44bn Deal Says purchase not to make money, but to serve humanity Emmanuel Addeh in Abuja World’s richest man, Elon Musk, yesterday announced his formal purchase of the micro-blogging site, Twitter, stressing that he hoped the platform would continue to be a "digital town square" for years to come. Musk, the Co-founder and Chief Executive of Tesla, estimated to be worth a net of $241 billion as of the first week of October, while making the disclosure on his verified Twitter handle, noted that he did not buy the asset to make money, but to “help humanity”. The SpaceX boss explained that he made the $44 billion purchase because the traditional media continue to be seriously polarised between two extremes, following the reasoning that that will bring in more money. "There is currently great danger that social media will splinter into

far right wing and far left wing echo chambers that generate more hate and divide in our society. "In the relentless pursuit of clicks, much of traditional media has fuelled and catered to those polarised extremes, as they believe that is what brings in the money, but, in doing so, the opportunity for dialogue is lost. "That is why I bought Twitter. I didn't do it because it would be easy. I didn't do it to make more money. I did it to try to help humanity, whom I love. And I do so with humility, recognising that failure in pursuing this goal, despite our best efforts, is a very real possibility," he wrote in the statement. Earlier this week, Musk had published a video of himself walking into Twitter's headquarters carrying a sink, raising speculation about his aims for the firm. In his latest tweet, he set

out some of his goals for the company, saying that Twitter must be "warm and welcoming for all". The development closes the book on what turned out to be a bitter acquisition, one that almost didn't happen when Musk threatened to pull out at the last minute. Musk who now describes himself as the "Chief Twit" had said he felt Twitter wasn't giving him enough info on bots and spam accounts and that the value of the company might not have been as high as he was willing to pay at first. According to him, it gave him every legal reason to walk away although Twitter wasn't budging without a fight. But he baulked at the purchase just a few weeks later, citing concerns that the number of fake accounts on the platform was higher than Twitter claimed, although Twitter executives

denied the accusations, arguing that Musk wanted out because he was worried about the price. The company eventually filed a lawsuit to hold him to the deal, and Musk revived his takeover plans on the condition that legal proceedings were paused. The deal must be completed by 28 October (today), or he will face trial over the contract. There's been a lot of talk about what the new owner might aim to change at Twitter now that he's in charge. Recently, there've been reports claiming that Musk planned to lay off at least 75 per cent of Twitter's workforce after bashing a lot of them as left-leaning, although he walked back on it on Wednesday. “Twitter cannot become a free-for-all hellscape where anything can be said with no consequences!" Musk said, noting that the platform must adhere to the laws of the land.

FRIDAY, OCTOBER 28, 2022 • T H I S D AY

NEWS

MEDIA BRIEFING... L-R: Chief Financial Oﬃcer, Eventful, Chioma Nwachukwu; Managing Director, Fisayo Beecroft; Head of Events, Omolola Owo, and Managing Director, AT3 Resources, Tosin Adefeko, during a press conference to announce Eventful's 20th anniversary in Lagos…yesterday

Okowa Presents N561.82bn Delta 2023 Appropriation Bill Omon-Julius Onabu in Asaba A 2023 budget proposal of N561.82 billion was yesterday presented to the Delta State House of Assembly by Governor Ifeanyi Okowa. The appropriation bill was christened, "Budget of Seamless and Stable Transaction," which the governor said was being done in an atmosphere of both, "hope and uncertainty." The amount proposed for the 2023 fiscal year was an increase of about 17 per cent above that for the 2022 fiscal year. The Delta 2023 Budget was made up of N326.6 billion as capital expenditure and the sum of N235.2 billion as recurrent expenditure, Okowa revealed. Okowa, who was in the company of his deputy, Kingsley Otuaro, Secretary to the State

Government (SSG), Patrick Ukah as well as members the State Executive Council and other ranking government functionaries, noted that the terminal budget for the 2023 fiscal year was a product of meticulous research and planning in line with current realities. The capital and expenditure estimates by the Okowa administration was presented to the state legislature presided over by the Speaker, Hon Sheriff Oborevwori, who noted that budget was truly unique in the sense that it was the last time Okowa would be standing in the hallowed chamber of the House to present an annual budget before the members. Okowa, who commended the consistent convivial relationship between the executive and legislative arm of the government in Delta, said, "I wish to announce

Okonkwo Named Anambra State Director of Atiku-Okwa 2023 Presidential Campaign Committee Stakeholders and Peoples Democratic Party (PDP) members across Anambra State are celebrating the emergence of Prof. Obiora Okonkwo as the state Director of the Atiku-Okowa 2023 Presidential Campaign Committee (PCC). Following the announcement, jubilant party members were unanimous that Okonkwo's choice was the best chance for the party to emerge victorious in the February polls. A statement yesterday, described Okonkwo as a foremost business mogul, academician and astute politician with extensive knowledge of the Nigerian political landscape, credibility, local acceptance, and an extensive network of institutional and individual contacts not just in Anambra State, but Nigeria at large. “Given his credentials, resultsdriven nature, and reputation as an honest and straight forward man who will always put the interests of the party first, his choice as the State Director of Atiku Abubakar and Dr. Ifeanyi Okowa's campaign has energised party members who, more than ever, are committed to victory in the upcoming election. “Okonkwo has been key pillar and financier of the PDP

in Anambra State for over a decade. In addition to being a prosperous businessman, he has consistently received high marks from the public for his openness, sincerity, values, and results-orientedness,” the statement added. Okonkwo ran for the Anambra Central Senatorial seat in 2015 under PDP and was declared winner by the courts but was not sworn-in due to some intrigues. He recently contested the party's governorship ticket where he distinguished himself as a force to reckon with and choice of over 80 per cent of PDP delegates. “He has remained instrumental to the progress, development and unity of the PDP in Anambra State and the South-east, where he has helped mobilise a large support base for the party over the years. “Given, Prof. Okonkwo`s pedigree and towering influence, an overwhelming number of party faithfuls believe he is best suited to lead the party to victory in the 2023 elections. “Little wonder party members are buzzing with excitement following his appointment as Anambra State Director of the Atiku-Okowa 2023 Presidential Campaign Committee,” the statement added.

that the projected Budget outlay for 2023 fiscal year is N561,820,596,524, showing an increase of 17 per cent from 2022 Budget." The economic sector was allocated the largest share with N172.129 billion while the highest sub-sectoral capital expenditure allocation of N111.4 billion went to the Ministry of Works as the governor pledged to continue to provide infrastructure including roads, bridges and drainages across the state. Also, the regional sector was allocated the sum of N64.225 billion and social sector had an allocation of N70.522 billion or about 22 percent of the capital expenditure budget. Also, the administration sector had an estimate of N13.343 billion while law and justice was allocated the sum of N3.391 billion, which

represented just one percent of the total capital estimate. Furthermore, the breakdown showed recurrent expenditure of N235,208,340,101, which represented 42 per cent of the total expenditure and an increase of N46,996,627,425 or 25 per cent from the 2022 budget of N188,211,712,676. Giving highlights of the expected revenue sources, the governor said, "Our projection is to generate the sum of N95 billion as Internally Generated Revenue in 2023, representing 17 per cent of the total projected revenues for the year. "The IGR estimates for 2023 is higher than the 2022 approved estimates by N15 billion, which is a proposed growth of 19 per cent over the current year’s estimate." The estimated receipts from the Federation Account derives from the crude oil benchmark of $70

per barrel, which was based on the forecast of the state’s Fiscal Strategy Paper as a guide. Accordingly, "the sum of N357,996,119,852 or 64 per cent of projected total revenue for the 2023 fiscal year is expected to come from statutory allocation." This amount was more than the sum of N259,419,628,938 budgeted for the 2022 fiscal year by N98,576,490,914 or 38 per cent growth, an increase prompted by restoration of peace in oil producing communities coupled with the rise is crude oil price in the international market. Okowa further noted, "Essentially, the goal of the 2023 Budget is to ensure that the gains of this administration are consolidated and expanded. Ongoing projects must be completed while new ones must

come on stream. “Notwithstanding the persistently challenging external conditions, it is incumbent on the leadership to address the socio-economic needs of our people and ensure that their legitimate aspirations are realised. "To successfully do that requires that we must be conscious of the decisions we make and guided by the obligation to carefully weigh every available option in the light of our fiscal realities vis-à-vis the demands of good governance. "It is our reasonable expectation that the 2023 Budget will significantly address current structural challenges of the economy, improve the business environment, accelerate economic development, engender inclusivity, promote social harmony, and ensure seamless transition to a new administration."

NDDC Inaugurates Two Road Projects in Delta State Ministry beams searchlight on N200bn contracts awarded by former commission’s boss Umana assures flood victims of intervention Sylvester Idowu in Warri and Blessing Ibunge in Port Harcourt The Niger Delta Development Commission (NDDC) yesterday inaugurated two road projects in Sapele, Sapele Local Government area of Delta State. The inaugurated projects were the four-kilometer Akporjevughe road and 2.5 kilometer Oghene road both in Sapele town. Speaking at the inauguration of the road projects, the Acting Managing Director and Chief Executive Officer of NDDC, Dr. Emmanuel Audu-Ohwavborua said the roads were constructed as part of the mandates of the commission as an interventionist agency. He disclosed that construction of Akporjevughe road was awarded on June 30th, 2018, while that of Oghene road was awarded on March 2019, to Messrs Solid FFLO Ashpalt company Nigeria Limited. "Before the award of the projects, Akporjevughe road, Doyanbi Lane, Alfred Jonah School road, Omoire Ojigwo road were swampy and in unbelievable bad state, prone to perennial flooding.

“The road cut across eight major roads/streets with a total length of four kilometers. "Similarly, Oghene road which was also in a very bad state prior to the award has a cumulative length of 2.5 kilometers made up of Oghene road which is the main alignment and nine other spurs. With the completion of the projects, the story has changed for the better for the residents and commuters," he said. Audu-Ohwavborua stated that the NDDC, over the years, executed notable infrastructural development projects across the Niger Delta region as part of its mandate with Delta State having its own far share of awards with a good number of completed projects and many ongoing. “Sapele Local Government has benefited about 103 projects awarded while Sapele town, the headquarters of Sapele LGA has 63 projects awarded, many of which had been completed," he added. He urged the youths to sustain the current peace across the region noting that no meaningful development could take place

without peace. The NDDC boss thanked President Muhammadu Buhari, the Minister of Niger Delta Affairs, Mr. Umana Okon Umana as well as the Deputy President of the Senate, Senator Ovie Omo-Agege, Chairman of the Senate Committee on Niger Delta, Senator Peter Nwaoboshi and Chairman, House Committee in Niger Delta, Hon. Tunji Ojo for their tremendous assistance and cooperation in the implementation of the Committee's mandate. Member, representing Okpe/ Sapele/Uvwie in the House of Representatives, Hon. Efe Afe commended the NDDC for its developmental projects executed in his constituency and urged the Commission to do more for his people. He also expressed appreciation to the contractor for executing a standard work and urged the residents and commuters to ensure the cleanliness of the drainage attached to the roads. Meanwhile, the Minister of Niger Delta Affairs, Umana Umana has condemned the award of over N200 billion contracts

by the immediate past Interim Administration of the NDDC without due process. This was just as the Minister has assured flood victims across the Niger Delta region that there would be a comprehensive intervention to ameliorate their sufferings. Umana who spoke yesterday, while addressing the management and staff of the NDDC at the headquarters in Port Harcourt, noted that it is unruly for an administrator to award a contract without adherence to provisions of the Procurement Act. He stated that he would no longer tolerate such excesses where one man would selfishly control the Commission without reference to the Ministerial Tenders Board or Tenders Board of the Commission or even the Federal Executive Council. Umana stressed: "Today, I am having engagement with management and staff of the NDDC led by the Acting Managing Director, Engr. Emmanuel AuduOhwavborua on how to reposition the commission in line with the expectations of Mr. President.

T H I S D AY • FRIDAY, OCTOBER 28, 2022

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22ND ROUNDTABLE EDITION OF DANGER OF A SINGLE STORY... L-R: Managing Director/CEO, SO&U, Udeme Ufot; Chairman, Access Bank/Guest Speaker, Dr. Dere Awosika; Founder/Convener, NECCI PR Roundtable, Nkechi Ali-Balogun; Managing Director/CEO, Financial Institutions Training Centre (FITC), Chizor Malize, and President, Nigeria Institute of Public Relations (NIPR), Mallam Mukhtar Sirajo at the22nd Roundtable Edition of Danger of a Single Story; Communication and Reputational Crisis on Africa, held in Lagos...yesterday SUNDAY ADIGUN

Terror Threat: UK, US Governments Update Travel Advisories to Citizens IG reassures Nigerians of safety, rolls out emergency numbers Night club shuts down in Transcorp Hilton for 14 days Kingsley Nwezeh, Emmanuel Addeh and Adedayo Akinwale in Abuja Governments of the United Kingdom and the United States, have updated their travel advisories following their recent terror alert, warning their citizens against travelling to the nation's capital, Abuja. The two countries, however, updated the travel advisories to their citizens in the wake of alleged increased threat of terrorists attack on the seat of power. But the Inspector-General of Police, Usman Alkali Baba, has allayed the fears of Nigerians and assured them of safety, even as he has rolled our emergency numbers cross the country. Curiously, also, the impact of the security advisories might have begun to take its toll as the management of Play Nightclub, located within Transcorp Hilton Hotel, has announced shutting down to the public for 14 days. From the stable of UK government, the new warning was made known through an updated travel advice on October 26th to British nationals by Foreign, Commonwealth and Development Office (FCDO), which was posted on its website. It read: "The FCDO now advises against all but essential travel to the Federal Capital Territory, including the city of Abuja. "The updated advice outlines that there is an increased threat of terrorist attack in Abuja. British nationals are advised to stay alert, avoid non-essential travel within the city and follow the local news and the advice of security authorities." It however, noted that the British High Commission remained open for essential services, adding that, the travel advice would constantly be reviewed to make sure it reflects the current situation in Abuja and Nigeria, saying the FCDO travel advice existed to inform British nationals so they could make decisions about travelling abroad. It stressed that other states in Nigeria, where it advised against all but essential travel included Bauchi, Kano, Jigawa, Niger, Sokoto, Kogi, Abia, Plateau, Taraba, within 20 kilometres of the border with Niger in Kebbi State and non-riverine areas of Delta, Bayelsa and Rivers States. For the United States

government, the American Embassy in Nigeria, explained that the travel advisory for Nigeria had been updated due to heightened risk of terrorist attacks in Abuja, recommending that its citizens should not travel to Abuja at this time. “In addition, on October 27, 2022, the department ordered the departure of family members of US government employees from Abuja due to heightened risk of terrorist attacks, following on the October 25 authorisation of departure of non-emergency US government employees and family members from Abuja due to heightened risk of terrorist attacks. "US citizens should consider departing Abuja using available commercial options. US citizens who wish to depart but are unable to secure commercial options to do so can contact the US Consulate in Lagos,” the embassy added. But a statement by Force Headquarters, said, the IG has charged all Strategic Police Managers in charge of Commands and tactical formations within the country to beef up security in their respective jurisdictions, especially in the FCT. The IG also directed that all emergency numbers across the country should be activated to full capacity for a 24/7 prompt response with combatant officers and men on standby to respond in case of emergency situations and distress calls. "Residents within the FCT are urged to remain vigilant and report any suspicious or abnormal occurrence and persons to the Police through the following emergency lines: 08032003913, 08061581938, 07057337653, and 08028940883. "The IGP, therefore, allays the fear of residents in the FCT and admonishes them to go about their lawful businesses and normal social lives/engagements as all hands are on deck to nip any security threat in the bud and respond to distress calls promptly," it said. The IGP further reiterated the commitment of the Nigeria Police to eliminating all threats, as well as protecting lives and property of all residents of the country. Meanwhile, starting from today, Friday, October 28, the management of Play Nightclub, Transcorp Hilton, has said the decision to shut down was taken due to the

alleged imminent attack on the federal capital. In a statement, the management stated that although it had faith in its own security arrangements and that of the prestigious hotel, it had resolved to halt operations to allow additional layers of protection for staff and customers.

“This is to inform the public that following management advisory from the Transcorp Hilton Hotel on the perception of an increased risk of potential attacks in the Federal Capital Territory, the management of Play Nightclub resident at the Transcorp Hilton Hotel will be shutting down operations from

Friday the 28th of October for a duration of two weeks. “While we are confident in the security not only of our facility, but of the Transcorp Hilton Hotel in general, we will nonetheless in the advised window, implement additional layers of security coverage for the comfort and

confidence of our customers, whose safety remains of paramount consideration to us, above all else. “We thank you immensely for your loyalty, as we rely on your continued support, cooperation, and patronage upon reopening,” the facility managers stated on its Instagram page.

Insecurity: FCTA Reclaims Part of Law School's Land in Bwari Donates 60 operational vehicles to security, disburses N500m to area councils Olawale Ajimotokan in Abuja The Federal Capital Territory Administration (FCTA), has reclaimed part of the Nigeria Law School's land at Bwari Campus, Abuja, that was encroached upon by trespassers. Senior Special Assistant on Monitoring, Inspection and Enforcement to the Minister of FCT, Ikharo Attah, said yesterday that the pulling down of the shanties during the clean-up operation was also to tighten security and restore sanity on the route. He described the exercise as one of the measures by the administration to mitigate insecurity across the territory, adding that security heads in the territory had insisted that the Bwari area must be made safe and free from all evil acts. He vowed that the removal of

structures constituting threats to security of lives and property on the Bwari road stretch would be a comprehensive action, beginning from the Law school, near Kuchiku-Bwari down to Bwari main market. “Pulling down of the illegal structures here in Bwari is part of our measures to curb insecurity across the territory. This area along the Law School stretches down to Bwari Market. All the attachments and shanties on the road corridor must go. “Some persons in Bwari may see it as a lawless place, because for long there is no major clean-up. It is not only the Law School area but it’s going to be a comprehensive clean-up,” he said. Also, the Secretary, FCTA Command and Control Centre, Peter Olumuji, said the operation was a means of sustaining the

security measures already put in place by police and the FCTA. He said prior to the removal of the shanties, the area served as a hideout for criminals terrorising the community. Meanwhile, the FCTA, has distributed 60 operational vehicles to security agencies domiciled in the FCT in support of efforts to secure lives and property in Abuja. At a the handover ceremony yesterday, FCT Minister, Malam Muhammad Musa Bello, said the intervention was to shore up the capacity of the security agencies domiciled in the FCT to optimally discharge their duties, adding that, the vehicles would be centrally controlled to ensure efficient performance. Twenty vehicles were given to the FCT Command of the Nigeria Police Force; 10 were allocated to the Nigeria Security and Civil

Defence Corps (NSCDC), FCT Command, while the remaining was given to the members of the Nigeria Armed Forces, Customs, Immigration, Correctional Services, Federal Road Safety Commission (FRSC), among others. He also disclosed that FCTA Security Council, has approved the disbursement of N500 million to the six Area Councils towards the commencement of community policing scheme in the territory. He charged the chairmen of the six Area Councils to also contribute at least N100 million each to further boost the capability of the nation’s security agencies in fighting crime. The minister stressed that crime and criminality must be fought and flushed out from the nooks and crannies of the Federal Capital Territory, thereby, making Abuja safe.

SANWO-OLU PRESENTS N1.69TRN 2023 APPROPRIATION BILL TO LAWMAKERS and maritime. He said: “I am delighted to announce that we are on the cusp of successfully birthing a fully functional light rail system in the metropolis. This is the first project of its kind, fully funded, by a sub-national government, anywhere in the world. “The Lagos Blue and Red lines are scheduled to commence commercial operations next year. The combination of both rail lines will reduce the daily commute time of millions of Lagosians from 2.5hrs to 30 mins, significantly enhancing productivity and improving quality of life. “We have also successfully facilitated more than $600m in investment into the Lekki Deep Sea Port, working closely with our private and public sector partners. From next week, the

test-running of the Lekki seaport will start. “This brand-new port has three times the capacity of the Apapa Port and will give Lagos almost 50 per cent of the shipping logistics volumes in West Africa. In addition, we have just recently received the Federal Government’s approval for the development of the Badagry Deep Sea Port.” Sanwo-Olu said the current year’s budget has recorded 74 per cent performance as at the end of third quarter, but he raised the prospects of closing the implementation above 80 per cent by the end of the year. Despite the challenges facing the state, the governor said Lagos would continue to intensify efforts in building a resilient economy, stressing that the state had never lacked courage, character, conviction and

creativity needed to retain its position as the nation’s economic powerhouse. Lagos State Speaker, Rt. Hon. Mudashiru Obasa, hailed SanwoOlu for sustaining the legacy of good governance inherited from his predecessors, testifying to the development strides recoded under the current administration. Based on the “excellent” performance of previous budgets, Obasa said the legislature had no doubt that the Lagos 2023 Appropriations Bill would be implementable. The Speaker, however, said the implementation of the fiscal plan must have more human face, just as it should aim at reducing poverty and improving the wellbeing of the residents. He said: “In the remaining months leading to the end of

this administration, so much is needed to be done; so much is still needed from us as the good people of Lagos yearn for more dividends of democracy, especially at this critical time. “The Year 2023 budget of Lagos should have more human face, and be targeted at reducing poverty and improving the welfare of the residents. “We will continue to give the needed support our dear Governor as we all march ahead to solidify the achievements recorded since 2019 when this administration took the reins of government. “I assure Lagosians that members of this House will give a thought to the challenges highlighted as well as other considerations in the process of shapening the proposal to meet the aspirations of the people.”

FRIDAY, OCTOBER 28, 2022 • T H I S D AY

NEWS

WAR ON TERROR: 60 OPERATIONAL VEHICLES TO SECURITY AGENCIES IN FCT... FCT Minister, Malam Muhammad Musa Bello, (right) handing over the keys of newly procured operational vehicles to the FCT Commissioner of Police, Sunday Babaji (2nd left) and AIG Zone 7, Kayode Egbetokun, during the handover of 60 operational vehicles to security agencies in the FCT...yesterday

Jumbo Severance Pay for Public Office Holders Amount to State Robbery, Says TUC Onyebuchi Ezigbo The Trade Union Congress of Nigeria (TUC) has condemned

the alleged move to raise the severance package of political office holders in the country, describing the move as an

organised state robbery. The TIUC stated that whereas there had been resistance by patriotic Nigerians and

organisations over the years against what he described as an assault on the coffers of the country in the name of severance

DHQ, Police, DSS Deny Conducting Counterterrorism Operation with US Navy Seal Popular Jabi Lake Mall shut over terror fears Fear, suspense grip Trademore residents Kingsley Nwezeh and Olawale Ajimotokan in Abuja Defence Headquarters (DHQ), the Nigeria Police and the Department of State Security (DSS), yesterday, denied reports that security forces in the country collaborated with United States Navy Seal to conduct an operation in a suspected terror cell at Trademore Estate, Abuja, on Monday. Residents of the area, however, claim there was an operation which led to the arrest of two terror suspects and the shutting down of the area within the period the operation lasted. This is as the management of the Jabi Lake Mall, Jabi District of Abuja, yesterday, announced the suspension of its operations. Jabi Lake Mall, located directly opposite Jabi Lake, is the biggest shopping mall in Abuja. There were reports that an international security operation conducted in Abuja thwarted a terror plot to attack the nation's capital, a development, which heightened fear and anxiety at the Trademore Estate. The alleged combined operation was reportedly conducted by the United States Navy Seal in collaboration with a Nigerian security agency, which allegedly raided a terror cell at the Trademore Estate in Abuja. It was believed that the development might have triggered the terror alert issued by the United States and the United Kingdom Embassies on Tuesday. The incident occurred Monday evening, at about 7pm at the Trademore Estate, Lugbe, along Abuja Airport Road.

Some reports cited the Department of State Security (DSS) as the Nigerian security agency involved in the operation but the DSS has denied involvement in the operation. Spokesman of the agency, Dr Peter Afunanya, said the agency was not involved in the operation. "I have no brief on it. I don't know about such please", he said. Also, the Defence Spokesman, Maj Gen Jimmy Akpor, was doubtful that such an operation took place. "Can’t get it! American Army and our DSS team carrying out an operation?" he queried. At the same time, spokesperson of the Federal Capital Territory Police Command, DSP Josephine Adeh, directed inquiries to DSS, effectively denying knowledge of such operation. Eyewitness account, however, said two persons were arrested and whisked away from the scene. The house was said to be located on Isikwuato Street, same street, where a former police inspector general was living. “They stormed the house after cordoning off the area. It was a sting operation that leaves no room for escape for the terror suspect,” a security source reveal. Detail of items recovered from the scene could not be immediately ascertained, sources said two pistols and a box of explosives were recovered. An eyewitness said, “We were already inside the house not knowing that there was an incident of that magnitude going on right close to our house. We only got to know when a

neighbour called to say that security had condone off access roads leading to our street. “I used to see the guy once in awhile, he hardly goes out and his wife wears hijab. This is scary for us, it means nowhere is safe. It’s no longer news that there was a high powered sting operation in Phase 3 this afternoon (Monday), culminating in a complete shutdown of our estate", a resident of the estate, who spoke on the condition of anonymity, said. The Chairman of Phase 3, Trademore Estate, Adewale Adenaike, was reported by some news outlets to have claimed seeing the gates to the estate locked by DSS officers and American soldiers, to effect the arrest of a resident on Monday over terror suspicion. He said nobody was allowed to go in or go out of the estate during the operation. However, the Chairman of the Estate Phase 2 Residents’ Association, Uchechukwu Moses, yesterday, described the unfolding development as strange and frightening. Moses claimed he could not verify such information by Adenaike as Trademore is an estate that is split into three phases. He said some residents, out of worries and concern, had begun to evacuate the estate, because of fear of the unknown and the attention that the estate, known for its vulnerability to flooding, has been attracting. “It is only natural for people to panic, when that kind of a thing happens. People have to be scared for their lives. But we are encouraging our residents to

be calm and be security conscious. When they see anything, they should report it. “Our residents have been calling me for more information, but as I speak, I am also in the dark. Our only hope is that as time goes on, the security agencies will share information with us when they have it in order to lessen the panic,” Moses said. Meanwhile, following the terror alert issued by foreign missions in Abuja, the management of the Jabi Lake Mall yesterday announced the suspension of its operations. In a post on the mall’s Instagram page @jabilakemallnigeria, the management said although it did not plan to disrupt its activities, the decision was taken for the safety of shoppers and staff of the establishment. The post said, management was reviewing the security situation with relevant authorities and that the mall would be reopened as soon as possible. "To all our valued shoppers, Jabi Lake Mall will be closed today, Thursday, 27 October 2022. This decision has been taken in the overall interest of the safety of all staff and customers of the mall. Centre management is committed to minimising any disruptions. However, the safety of our staff and shoppers remains our highest priority. "Management is constantly reviewing the security situation in consultation with relevant security authorities and will inform you when the mall will be re-opened. We apologise for any inconvenience caused and hope to provide you with a quality shopping experience soon. Thank you," the post stated.

package for political office holders, it was regrettable that the practice was further being entrenched. Quoting media reports, the TUC stated that the severance packages of political office holders including President Muhammadu Buhari, Vice President Yemi Osinbajo and the twenty-eight governors leaving in 2023 would cost the country N63 billion. In a statement signed by its National President, Festus Osifo, TUC said its demand was that a stop must be put to the unwholesome and unpatriotic practice. "Even this sum does not tell the whole scandal that is severance allowances. For instance, the severance package for a Lagos State governor which led to protests and a forced downward review, awarded each former governor six new cars every three years, a house in Lagos costing N750 million and one in Abuja at N1 billion and uncapped free medical treatment for them and their family. "Other benefits were 100 per cent of annual basic salary, a cook, steward, gardener, and other domestic staff, who are also pensionable. Unfortunately, similar arrangements cut across federal and state governments, the executive and legislature, regions and political parties. "Another side of the scandal still exists with governors and national assembly members who get severance packages when they are likely to return for another tenure. Why pay severance to an ex-governor who is a serving senator? More harrowing is the fact that some of these beneficiaries are still pensioners of the public and private sectors," it said. TUC wondered why the political office holders should earn such severance benefits in a country that had been adjudged the poverty capital of the world and a country that her tertiary institutions were shut down for eight months because of money. "A country with almost 20 million out-of-school children

according to the latest global data by UNESCO; a country where floods have destroyed farms, pulled down houses and increased the number of Internally Displaced Persons (IDPs)? “Why should governors who cannot pay minimum wage receive severance package? Why should some ex-governors be paid 100 per cent of their annual basic salary for life after leaving office? "These same people owed retirees arrears of the little pension they are legitimately entitled to. Such insensitivity! This profligacy must stop now! The Revenue Mobilisation and Fiscal Allocation Commission (RMFAC) has severance package provisions for political office holders. "Although the TUC is uncomfortable with this, more so when holding political office is a call to service, it is worst still intolerable that severance packages should become the legalised seizure of public funds for private purposes. “In China most of our political elites would have had their wealth confiscated and sentenced to death for such recklessness because like crude oil theft, it is a national sabotage. "The sum of N63 billion naira annually to a few individuals in a country that leads the world from behind in almost all economic parameters including poor welfare for workers and retirees, is a shame! “This is going to be one of the biggest heists in Nigeria history if allowed and we will not hesitate to call out our members to put a stop to it. Congress is vehemently opposed to this. It should not be business as usual,” it added. The union said it was seeking for a drastic downward review of the severance packages of political office holders in the country. It also demanded that the monthly allowances and salaries of such officials including legislators should be severely cut down as they are, scandalous, insensitive and could be likened to national sabotage.

FRIDAY OCTOBER 28, 2022˾ T H I S D AY

NEWS

I NEED THE SUPPORT OF SHAREHOLDERS...

President, Association for the Advancement of the Rights of Nigerian Shareholders (AARNS), Dr. Faruk Umar (left), and the Presidential Candidate of All Progressives Congress (APC) , Asiwaju Bola Tinubu, during Tinubu’s visit to His Royal Highness , the Emir of Kano , Alhaji Aminu Bayero in Kano…recently

Air Force Chief Probes Accidental Air Strikes on Civilian Locations Kingsley Nwezeh in Abuja and and Okon Bassey in Uyo The Chief of the Air Staff (CAS), Air Marshal Oladayo Amao, yesterday, inaugurated a committee to probe incidences

of air strikes on civilian locations. The committee is expected to compile all allegations of accidental air strikes on civilians as well as review the circumstances leading to such strikes. The air force is also to take

Lagos PDP Members Defect to APC Segun James

As the race for the 2023 general election hots up, thousands of members of the Lagos4Lagos Movement of the gubernatorial candidate of the Peoples Democratic Party (PDP), Dr. Olajide Adediran (Jandor) yesterday defected to the All Progressives Congress (APC). The defectors, including leaders and coordinators of the governorship campaign team of the candidate of the PDP, were received into the APC by the state’s Deputy Governor, Dr Kadiri Obafemi Hamzat, the state party chairman, Pastor Cornelius Ojelabi and members

of the state Executive Council at the party secretariat yesterday. Receiving the new members, Hamzat said it’s a thing of pleasure to welcome the defectors to the Lagos APC. “I am very happy not because I am welcoming you back into the party but because there is no society that is good without good leaders and people of good intentions. “This is the time for Nigeria to have the right leadership. Tinubu has an eye for talent and that is what we need in the country.” “In welcoming you I must say you have made the right decision by joining the Progressives.”

Odili Announces Employment for 13 Graduate Nurses of Pamo Varsity

BlessingIbungeinPortHarcourt

The former Governor of Rivers State, Dr Peter Odili, has announced automatic employment for the newly graduated nurses of Pamo University of Medical Sciences (PUMS), Port Harcourt. This is as the Nursing and Midwifery Council of Nigeria (NMCN), has expressed confidence on the quality of products the university is graduating. Odili, who is a Pro-chancellor and Chairman Governing Council of the university made the announcement yesterday at the induction/oath taking ceremony for the new Nurses

held at the University campus in Iriebe area of the Rivers state. The pro-chancellor, who announced the immediate employment after their internship, also awarded N500, 000 for the overall best graduated student, and N100,000 for each of the inductees, among other things The graduated nurses include: Samchisadede Glad, Ajoku Chukwuemeka, Nwokogba Melody, Thompson Pamela, Chimankpam Sarimazinuchi, Vinebo Vanessa, Romeo Favour, Benson Elizabeth, Olumati Maxwell, Bruce Hearty, Dagogo Lolia, Ikpe Mercy and Kio Tatie.

Man Dies During Sex Romp in Ondo Fidelis DavidinAkure A middle-aged man simply identified as Mr. Lanre has died during a sex romp at an hotel in Ondo West Local Government Area of Ondo state. THISDAY gathered that the man died while having sexual intercourse with an unknown woman. The deceased who is said to be a political appointee in the local government had contested once for the councillorship position. The incident, which occurred around 9:00pm on Wednesday has since thrown family members of the deceased into a mourning.

THISDAY also gathered that the man was living at power line, Oka area of Ondo city before his death, while investigation revealed that the man’s death is suspected to be a thunderbolt popularly known as ‘magun’. An eyewitness who preferred anonymity said the woman raised the alarm after realising that the man collapsed after taking his bath. He said this attracted the manager of the hotel who in turn invited police officers from Enu-Owa police station who later deposited his corpse at the morgue of the University Of Medical Sciences, Ondo for further investigation.

delivery of 17 attack aircraft by December in order to boost its air power capabilities, while awaiting the delivery of 35 pending acquisitions in 2023. Amao, spoke at the opening ceremony of the 2022 Air Operations Seminar holding in Uyo, Akwa Ibom State from 27-28 October, 2022. A statement by the spokesman of the Nigerian Air Force, Air Commodore Edward Gabkwet,

said the committee would proffer far-reaching measures that would mitigate future incidences of collateral damages on civilians during Nigerian Air Force (NAF) operations. Amao noted that the investigation further aimed at promoting accountability, to enable the NAF learn valuable lessons in order to avoid or mitigate similar cases in the future as well as take extra measures

to minimise civilian casualties in conflict areas. Congratulating 17 young pilots winged during the opening ceremony of the seminar, Amao implored the pilots to be prepared for the arduous task ahead. “There is no better way to launch you into your operational flying career than to have you draw from the rich operational experiences of seasoned pilots, who will be discussing germane

issues relevant to air operations,” he said. Amao admonished the young pilots to adhere to laid down rules of engagement while also taking all necessary steps to protect civilians and minimise civilian casualties during operations. “The efforts to mitigate civilian casualties are not just a reflection of NAF values as a service but also strategically imperative to our operations,” he said.

Abaribe: Only Revolution, Total Overhaul Can Save Nigeria David-Chyddy Eleke in Awka Former Minority Leader of the Nigerian Senate, Senator Enyinnaya Abaribe has said that only a revolution or total overhaul of the country can save Nigeria from collapse. Abaribe, who was a guest lecturer at the second Archbishop Maxwell Anikwenwa annual public

lecture in Paul University, Awka, Anambra State, spoke on the theme: ‘Nigeria at crosss roads – which way forward.’ The senator who quoted late Musician, Sunny Okosun’s song - which way Nigeria, said:”This was 38years ago, who knows what he would have said about Nigeria today? All the ills he sang about have deepened and Nigeria has become an “open

sore of a country” apologies to Wole Soyinka.” Abaribe who spoke further said: “The way Nigeria is at the moment, unless there is a revolution or a total overhaul of every aspect of the system, not even Angels descending from heaven can salvage the situation. We are tethering on the brink of total collapse. “I shall not dwell too much

on history as there exists at the moment, too many sensitivities and proclivities that one must take into consideration in approaching this topic. Opinions and allegiances have become so convoluted that there is hardly a central table on which to place this discourse for all South Easterners, not to talk of all Nigerians to participate freely in it,” he said.

Democracy Under Threat in Taraba, APC Lawmaker Alleges JulietAkojeinAbuja The APC Senatorial Candidate for the Taraba South Senatorial District of Taraba State , Hon Danjuma Shidi, yesterday alleged that democracy was under threat over what he described as “ high-handedness in the latest political development in state”. Shidi, who is currently representing Wukari/Ibi Federal

constituency of the State in the National Assembly, stressed that if nothing is not done urgently to address the urgly political development in the state, democracy would be history in Taraba State. He alleged that in the ongoing politics of bitterness under the Peoples Democratic Party(PDP) controlled state, the Director-General of his Campaign Organisation, Hon Sumaila Yakubu was brutally

abducted by state security agents on trumped-up charges of inciting members of the public to go violent. “Hon Sumaila, the DG of my campaign organisation was whisked away in a commandostyle operation on Monday by a combined team of Security operatives led by the personnel of the Nigeria Police Force. He was severely beaten up with wounds all over his body, stripped naked

before being whisked to detention where he still remains till now,” he said. According to the lawmaker, “The trumped-up charges cannot be farther from the truth as there were even video recordings of the victim placating the people not to resort to violence over in the political happenings in Taraba, but allow peace to reign to smoothen out frayed nerves.”

Alleged Homicide: Chinese National Pleads Not Guilty in Kano Ibrahim Shuaibu in Kano The Kano State Government yesterday re-arraigned a Chinese national, Frank Geng-Quangrong,. 47, before a Kano High Court for alleged murder of his Nigerian girlfriend, Ummukulsum Sani,22. The defendant pleaded not guilty to the charge. The Chinese national known as Frank, who lives at Railway Quarters Kano is charged with culpable homicide.

The court had on October 4, ordered the Kano Govt to provide an interpreter for the defendant. When the case came up for re-arraignment, the prosecutor, who is also the Attorney General of Kano State, Musa Abdullahi-Lawan, presented Mr. Guo Cumru, from the Chinese Embassy to interpret English to Chinese Language to the defendant. The prosecutor alleged that on the same date

at about 9 p.m the defendant stabbed Sani with a knife in her house at Janbulo quarters Kano for undisclosed reasons. He told the court that the defendant committed the offence in September at Janbulo Quarters Gwale Local Government Area of Kano. According to him, “We are ready and intend to present five witnesses, we don’t want to take much time as the interpreter is

from Abuja.” Abdullahi-Lawan said that the offense contravened the provisions of Section 221(b) of the Penal Code. Mr. Muhammad Umar held watching brief for the nominal complainant. Responding the Defence Counsel, Mr Muhammad Dan’azumi, earlier objected that in a criminal case there is no procedure for watching brief.

Makinde, Oyetola Flag Off 91km Ibadan-Iwo-Osogbo Road Kemi Olaitan in Ibadan Oyo State Governor, ‘Seyi Makinde, yesterday said he and his Osun State counterpart, Governor Gboyega Oyetola, have started a revolution of ideas that has been helping to promote collaboration, integration and good governance in the Southwest geopolitical zone.

This is just as he maintained that the two governors have been able to lead a revolution and collaboration that put the people of the two states first. He added that they have relegated politics and partisanship to the background, while delivering dividends of good governance to the people. Makinde, who stated this at

Ido Osun, Osun State, during the flag-off of the reconstruction and selective expansion of the 91 kilometres Osogbo (Dele Yes Sir Roundabout)-Iwo-Ibadan-Iwo Road Interchange, by the two governors, said his government chose to explore the opportunities of collaboration at the outset of the administration. The project, which is to be

completed in 18 months, was awarded to Messrs Peculiar Ultimate Concerns. Makinde said the fruits of the state’s collaboration with sisterstates included the establishment of the Amotekun Corps, the sole ownership of the Ladoke Akintola University of Technology and now the reconstruction of the Ibadan-Iwo-Osogbo Road.

FRIDAY OCTOBER 28, 2022 ˾ T H I S D AY

NEWS XTRA

LANDWEY FUTURE CITY UNVEILLED...

L-R: Chief Legal Officer, LandWey, Mr.Sijibomi Agbadaola; Financial Controller, LandWey,Olamide Opadiran; Chief Executive Officer, Landwey, Mr.Olawale Ayilara; Managing Director, Landwey, Shola Bello; Head of Business, Alvin Grey, Adesuwa Abiode, and Senior Business Manager, LandWey, Tolulope Ruth Hassan, at the press conference to unveil new projects by LandWey in Ajah, Lagos… recently

APC PCC to Akintoye: Your Statement Misdirected, Divisive Adedayo Akinwale The Presidential Campaign Council (PCC) of the All Progressives Congress (APC) has described the statement credited to the leader of the Yoruba Nation Self-Determination Struggle, Prof. Banji Akintoye as misdirected, misplaced and divisive. Akintoye had earlier in a statement said that the

presidential candidate of APC, Asiwaju Bola Tinubu’s ambition was premised on “personal interest” and not of the Yoruba people But reacting, the Director of Media and Publicity, TinubuShettima Presidential Campaign Council, Bayo Onanuga said APC found it quite preposterous the professor’s sweeping accusation that Tinubu was only pursuing his personal interest

Group Advises Obaseki against Appointing Many Aides A pro-democracy group, the situation. International Transparency and Good Governance for Africa Initiative, has urged Governor of Edo State, Mr. Godwin Obaseki not to appoint many aides ahead of the 2023 general elections as being done by some governors. The group in statement signed by its Executive Director, Cheryl Olusanya said similar appointments made by Obaseki in 2020, contributed largely to the tension that followed the election in his state. According to the group, the appointment of numerous aides under the payroll of government as a strategy to win election in Nigeria is a grievous act of corruption, which the legislative and anti-graft agencies must look to protect the nation’s democracy. The group has therefore called on the Economic and Financial Crimes Commission (EFCC) and other anti-graft agencies to garner enough political will to deal with

The group condemned the recent appointment of no fewer than 40,000 Special Assistants and Senior Special Assistants by the Rivers state government on the eve of general elections, calling it an “act capable of discrediting elections in the country.” The group noted that it monitored the 2020 governorship election in Edo state and suggested in its report that the appointment of numerous aides by Governor Obaseki was part of the causes of the crises that came up before and during the election. “Appointment of aides ahead of election is a mockery of our democracy. We have seen thousands of SSAs and SAs appointed for election purposes in Zamfara, Cross Rivers, Delta, Niger, Bayelsa and many other states of federation. It is not only uneconomic and wasteful but a setback for our democracy by those we trusted,’’ it said.

Security Heads Vow to End Kidnapping in Enugu Governor Ifeanyi Ugwuanyi of Enugu State, yesterday led the General Officer Commanding (GOC) 82 Division of the Nigerian Army, Maj. Gen. Umar Musa, the State Commissioner of Police, CP Ahmed Ammani, the Director of Department of State Services (DSS) H.M Daluwa, the Garrison Commander, 82 Division, Nigerian Army, Brig. Gen. M.K Ibrahim, among others, to Ugwogo-Opi road on a strategic assessment of the area, including the hideouts of kidnappers, with a view to decisively ending the recent kidnapping incidents along the road. Addressing newsmen during the on-the-spot assessment visit, the GOC, 82 Division, Nigerian Army, Maj. Gen. Musa, who spoke on behalf of the other heads of security agencies

in the state, confirmed that “the perpetrators are purely kidnappers.” He assured the public that the combined team of the security agencies are taking further steps into the bush to apprehend the perpetrators, rescue the victims and end the menace along the road. “I assure you that we are going to go deep into the bush to pursue them and ensure they do not perpetrate more harm along the road,” he said. Acknowledging the presence of Gov. Ugwuanyi on the visit and his utmost commitment towards ending the security challenges being posed by the hoodlums along the Ugwogo-Opi road, the GOC assured the public that “these criminals will be fished out and they will be dealt with.”

in running for the presidency of Nigeria. He described the statement as malicious and unwarranted. Onanuga noted that Tinubu was contesting for Nigeria’s presidency because of his readiness to render unflinching service to Nigerians and because of his abiding faith in a strong, united and prosperous Nigeria

where every man and woman, regardless of their ethnicity and religious beliefs, can be proud and prosperous. He said: “Our attention has been drawn to an unfortunate, misdirected, misplaced and divisive statement credited to Professor Banji Akintoye, in which his group threatened to pull the South West out of Nigeria.

“To be candid, there are several agitation groups in the South West and in other parts of Nigeria who wrongly think the best way to demand for justice and fairness is through break-up of our country. “And since there has been no referendum held in Yorubaland about whether to stay in Nigeria or not and no such referendum

has been held in any part of Nigeria, it is then appropriate to assume that this separatist idea is basically Akintoye and his group’s sole idea. “We join other bona-fide and critical stakeholders in Yorubaland to advise Professor Akintoye not to plunge our people into a needless and precipitate crisis or create another Rwanda.”

Witness to Court: N4.6bn Was Used to Fund Jonathan’s Election Wale Igbintade

An Investigating Officer with the Economic and Financial Crimes Commission (EFCC), Mr. Shehu Shuaibu, yesterday, told a federal high court in Lagos that the sum of N4.6 billion allegely transferred into a Joint Trust account was used to finance the Presidential Campaign of former President, Goodluck Jonathan in 2019. Shuaibu disclosed this yesterday

while testifying before Justice Daniel Osiagor in the trial of former Minister of Finance, Senator Nenadi Usman, former aviation minister Femi Fani-Kayode, and two others over alleged money laundering and other fraud-related offences. Under cross-examination by Mr Ferdinand Orbih, SAN, lawyer to the first Defendant (Nenadi Usman), the witness stated that his team, from the Special Task Force of the EFCC did not invite former

President Jonathan throughout their investigation. The witness admitted that the first Defendant, Usman, was the Director of Finance, President Goodluck Jonathan’s Campaign Organisation, while the second Defendant, Fani-Kayode, was Director, Media and Publicity of the organisation. Asked why he did not invite Jonathan to confirm or deny if the money paid into the Joint Trust

account was expended for his campaign or not, he said, “No we did not invite him, since the President was not the one that expended the money.” When asked further why those that transferred money into the Joint Trust account were arrested and prosecuted, he said, “To the best of my knowledge, I do not know whether those that transferred money into the Joint Trust Account were charged to court or not.”

Rivers APC Guber Candidate Appeals Annulment of Primaries Blessing Ibunge in Port Harcourt The gubernatorial candidate of the All Progressives Congress (APC) in Rivers State, Tonye Cole, has urged his supporters to remain calm following the annulment of the party’s primaries by a Federal High Court in Port Harcourt. Justice E.A. Obile had last Tuesday nullified the primaries

of the state APC in a matter filed by one George Orlu and four others-aggrieved members of the party. The aggrieved members in the suit, who claimed to have purchased nomination forms, had approached the court requesting that the primaries of APC in state be nullified following their alleged exclusion in the process. Justice Obile in his ruling

held that the aggrieved persons were shut out of the primaries unlawfully, adding that the process amounted to nullity. Obila further agreed in the judgment with the plaintiffs that they were wrongly excluded in the process to participate in the party primaries, and therefore, ruled that all those elected from the primaries stand nullified and should not be recognized

as candidates. Meanwhile, the party’s governorship candidate, Cole, has told his supporters to remain calm, assuring them that APC will remain on the ballot sheet during the 2023 elections in the state. In a statement made available to THISDAY, it was revealed that the candidate has appealed the judgment.

Police Arrest Man in Possession of over 100 PVCs in Sokoto Onuminya Innocent inSokoto The Sokoto State Police Command yesterday said it intercepted a man in possession of 101 permanent voter’s cards (PVCs) belonging to different persons. Briefing journalists at the police officers mess in Sokoto, the state Commissioner of Police, Mohammed Usaini Gumel, said his men have arrested a suspect in possession of over 100 PVCs

following a credible intelligence in Sabon Birnin Local Government Area of the state. The commissioner said the police were yet to trace the actual owners of the PVCs, but have through investigation found out that the owners of the PVCs are not all residents of Sabon birnin where the suspect was arrested. He called on members of the public,, especially those with cases of missing PVCs, to visit

the command headquarters where copies of the PVCs will be displayed for owner’s identification and collection. The commissioner said the prosecution of the suspect would be facilitated by the proofs and testimonies of owners who show up at the command headquarters to claim their PVCs. Gumel also revealed that unclaimed PVCs would be returned to the Independent National Electoral

Commission (INEC) for further investigation. He explained that as electioneering periods are approaching, the police in the state would work with other security agencies and the independent national electoral commission for the smooth conduct of the elections. The police boss further stated that the public should not shied criminals but report them to the police for necessary action.

Delta Communities Allege Police Cover-up for Suspect Omon-Julius Onabu in Asaba Communities across Oshimili North, Aniocha North and Aniocha South Local Government areas of Delta State have protested alleged attempt to cover up and shield a man facing trial for various criminal activities in their communities by the police at the Force Criminal Investigation Department (FCID), Abuja.

Leaders of different communities in the area accused the police of attempting to scuttle ongoing trial and investigation into the alleged criminal acts of the suspect, one Francis Oduwanor Odiakose and his cohorts. Speaking with newsmen recently at Asaba, community leaders drawn from Ubulu-Okiti, Ogwashi-Uku, Akukwu-Igbo, Edo-Ogwashi and Issele-Azagba

communities spread across the three aforementioned local government areas lamented the alleged attempt by some officers of the FCID to pervert the cause of justice by the shielding of the suspect, who was also fingered in attempted killing of a resident of the area. The Delta State Police Command spokesman, Mr. Bright Edafe, had in a statement in Asaba last August, declared

the said “Francis Odiakose and his brother, Christopher, wanted in the state for conspiracy, terrorism, cultism and attempted murder.” Mr. Tony Enurah, who is a leader of the Oganihu Otulu community, alleged that the suspect, along with several other members of his group, had been terrorising their community and neighbouring communities for several years.

FRIDAY OCTOBER 28, 2022 ˾ T H I S D AY

NEWS XTRA

WORLD OF ISLAM

Group Takes Protest to British Embassy over Continued Detention of Ekweremadu Why Humanism is Problematic (1)

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

Adedayo Akinwale in Abuja A group under the aegis of Concerned Nigerians United for Ekweremadu and Family has called on the United Kingdom government to grant bail to the former Deputy President of the Senate, Senator Ike Ekweremadu. Ekweremadu, who represents Enugu West senatorial district at the upper legislative chamber of the National Assembly was

arrested by British authorities alongside his wife upon arrival in the United Kingdom on June 21, 2022. Since the arrest, Ekweremadu and his wife have been standing trial in the UK over alleged conspiracy to harvest organs. But addressing journalists in Abuja, yesterday, after submitting a petition addressed to the UK embassy, the leader of the group, Mr. Paul Sawa decried continued detention of

Ekweremadu without trial over what he described as a “clearly bailable offence.” The protesters were armed with placards inscriptions like, ‘Would a serving British MP be treated like this in Nigeria?; ‘Detention without trial, where is the human rights?’; Ekweremadu was only trying to save his daughter, it could happen to anyone’; ‘Please grant Ekweremadu bail’, among others.

A’Ibom to Become Reference Point for Devt in Nigeria, Africa, Says Emmanuel Okon Bassey in Uyo Akwa Ibom State Governor, Udom Emmanuel has said with the tempo of developmental projects, the state would in future become a reference point of projects executions in Nigeria and Africa. He said the developmental projects in the state were testimonies to what the current leadership of the state has achieved and what

the next governor would do, attributing Nigeria’s challenges to incompetence. The governor spoke yesterday, during the flag-off of the People’s Democratic Party (PDP) campaigns for Akwa Ibom North East senatorial district and the handing over of flags to all its candidates in the district for the 2023 elections. The governor assured that the party’s governorship candidate in the state for next year’s election,

Mr. Umo Eno, has the capacity to take Akwa Ibom to great heights. “Believe me, he is a man of capacity. I keep saying it and I will repeat it until everybody hears me that, if you cannot run a kiosk, you cannot run a multinational. “If you have not created dividend somewhere, you cannot create dividends of democracy; that is why we are having the problems we are having in Nigeria today.

Abia 2023: Court Awards N0.5m to Emenike, Blasts Frivolous Litigants Emmanuel Ugwu-Nwogo in Umuahia The governorship candidate of the All Progressives Congress in Abia State (APC), High Chief Ikechi

CHANGE OF NAME I, formerly known and addressed as SANNI SEUN now wish to be known and addressed as SANNI BENJAMIN OLUWASEUN. All former documents remain valid. Banks and the general public should take note.

I, formerly known and addressed as ABULE OKOCHA, now wish to be known and addressed as ABULE OKOCHA RALPH. All former documents remain valid. The general public should take note. I formerly known and addressed as BEN STELLA OLUWASEUN, now wish to be known and address as OGUNLADE STELLA OLUWASEUN. All former documents remain valid. The general public and Should please take note. I formerly known and addressed as ABDULSALAM RUKAYAT OLAYEMI, now wish to be known and addressed as ILEABOYA RUKAYAT OLAYEMI. All former documents remain valid. The general public should please take note. I formerly known and addressed as OISAHOIN BRAIN IRIEKPEN, now wish to be known and addressed as OISAHOIN EMMANUEL IRIEKPEN. All former documents remain valid. The general public should please take note. I formerly known and addressed as ILOBA AMAKA JESSICA, now wish to be known and addressed as OKOLIE AMAKA JESSICA. All former documents remain valid. The general public should please take note.

CONFIRMATION OF NAME 7KLV LV WR FRQ¿UP WKDW OLAYINKA RASHEED and OLAYINKA RASHEED OLAMIDE, refer to one and same person. All document bearing the above mentioned names remain valid. Access Bank and General public should take note.

Emenike, has continued to scale the legal hurdles placed on his path by opponents as the Federal High Court in Umuahia has again dismissed a suit challenging his membership of his party. Delivering judgment in suit no: FHC/UM/CS/101/2022, the presiding Judge, Justice Evelyn Anyadike, further affirmed Emenike as bona fide member of the APC, and awarded him N500,000 in damages. The dismissal of this particular suit brings to 21 the number of cases Emenike has won out of the 24 filed by his opponents in the governorship primary, their surrogates and “meddlesome interlopers.” The plaintiffs, Chief Oti Brutus Agbai and three others had gone to court challenging Emenike’s

party membership on the grounds of a purported suspension, which had already been settled in Emenike’s favour by a court of competent jurisdiction. Justice Anyadike, therefore, lambasted the plaintiffs over abuse of court processes with frivolous suits. The presiding judge also vehemently decried ‘the activities of faceless groups and their penchant for inundating the courts with frivolous pre-election cases, ostensibly to distract validly nominated candidates, like Chief Emenike’. She also noted that plaintiffs would rush to court and file such frivolous cases without a modicum of evidence to prosecute their cases. The Judge accordingly CHANGE OF NAME awarded the N500, 000 cost against the plaintiffs to serve as I formerly known and addressed as deterrent to frivolous litigants. MISS AMARACHI DIBIAH now wish The court ordered that the cost to be known and addressed as MRS must be paid by the plaintiffs AMARACHI ALEX OGBONNIA. All jointly and severally to APC documents bearing my former name and Emenike. remains valid. General public please The plaintiffs had anchored take note. their claims on the May 26, I formerly known and addressed 2022, judgment of Justice O.A. as OLUSOLA ATINUKE AD- Chijioke of an Abia State High ENIYI, now wish to be known Court in Umuahia, which upheld and addressed as OLUSOLA Emenike’s purported suspension ADENIYI. All former documents even when a court of concurrent remain valid. The general public jurisdiction had already quashed the purported suspension. should please take note. Justice Chijioke, who was I formerly known and addressed apparently misled did not take as SAHEED AJOKE SHAKI- cognisance of the fact that the RAT, now wish to be known and matter had already been settled addressed as ARIORI AJOKE in favour of Emenike in the SHAKIRAT. All former docu- judgment of an Abia State High ments remain valid. The general Court, Umunneochi Division, delivered on November 4, 2021. public should please take note. Emenike and two others I formerly known and addressed as GODWIN UDON UDON- had filed a suit before Justice AKAN, now wish to be known Benson Anya of the state High and addressed as GODWIN UDO Court in Umunneochi, where AKANG. All former documents the purported suspension was remain valid. The general public nullified and the plaintiffs affirmed authentic APC members. should please take note. Most of the suits filed against I formerly known and addressed as Emenike border on the same issue MISS INIOBONG CHARLES UMO- of his purported suspension, BIT now wish to be known and ad- which had been resolved in dressed as MRS. INIOBONG ELVIS his favour by the court prior UNAM. All documents bearing my to his victory in the state APC former name remains valid. General governorship primary of May public please take note. 26, 2022.

Spahic Omer/IslamiCity

an is created to submit to and worship his Creator, Almighty Allah. In order to satiate man’s thirst for worship, Allah kept sending His messengers and prophets throughout human history, from Adam to Muhammad (peace and blessings be upon them all). As soon as man was placed on earth, he was promised that he would not be left alone. In his relentless pursuits of meaning and happiness, man will never walk alone. Divine guidance will be his constant companion. Man is Allah’s honourable creation. Hence, Allah is always there for him. In a Creator-vs-creation and Master-vs-servant relationship man belongs to Allah and Allah belongs to him. Man originated in the heavenly realm, lives on earth under the auspices of his Creator’s love, care and providence, and ultimately returns to his Creator. Man goes back to a state and context where it all once began, concluding thus his dramatic existential journey and completing a consequential ontological cycle. The Qur’an says on this: “We said: ‘Get ye down all from here; and if, as is sure, there comes to you Guidance from me, whosoever follows My guidance, on them shall be no fear, nor shall they grieve. But those who reject Faith and belie Our Signs, they shall be companions of the Fire; they shall abide therein’” (al-Baqarah, 38-39). “He said: ‘Get ye down, both of you, - all together, from the Garden, with enmity one to another: but if, as is sure, there comes to you Guidance from Me, whosoever follows My Guidance, will not lose his way, nor fall into misery. But whosoever turns away from My Message, verily for him is a life narrowed down, and We shall raise him up blind on the Day of Judgment” (Ta Ha, 123-124). However, the overwhelming majority of mankind rejected the divine interventions, and with the aim of somehow satisfying the intrinsic religious cravings of theirs, they invented myriads of forms of polytheism, paganism and mythology (God-lore) instead. In the end, a colourful mosaic of religious beliefs and practices emerged, spanning millennia and penetrating each and every corner of the globe. The idea that man was made to submit and worship never faded away. Rather, it kept intensifying as well as diversifying, because of the fact that what was served on the religious platters fell way short of gratifying the ever-hankering soul and intelligence of most people. Religions and their denominations grew exponentially, as did the pantheons of gods and goddesses. So much so that the hallmark of every ancient society was their religiousness, both personal and institutionalized, and their complex religious thoughts. Some people went so far as to consider that there are as many deities and paths leading to the truth as there are people. What was important is that a person believed in a supernatural source and power, and that he remained faithful. It comes as no surprise that history is virtually nothing but a compendium of religious slants and patterns, which as much vulgarly as primitively defined the earth-heaven and man-divinity relations. Having hitherto rejected the revealed knowledge and direction, man, overwhelmed and lost, was despondently looking for answers. At the centre of the ideological ups and downs of humankind stood the religious and socio-political elites. They not only ruled, but also abided as intermediaries between earth and heaven and between ordinary people and divinity. Rulers were allegedly divinely inspired and guided. They were partly human and partly divine. They enjoyed a special treatment in heaven, so they deserved a correspondingly special place and treatment on earth. Needless to say that that is how the theories of divine rights of kings, God’s mandation, rulers as reincarnations of gods, and finally absolutism, came about. Religion was seen as the most effective means of exploitation and manipulation. Religion was the élan vital of cultural manifestations and civilizational undertakings. Religion and civilization were two sides of the same coin. For example, whenever one speaks about any aspect of ancient Mesopotamian, Egyptian, Greek, Indian, Chinese, Roman and Persian civilization, one is bound to end up speaking about a component of either an institutionalized religion or an idiosyncratic supernatural conviction. Either way, faith was the modus operandi and the criterion. However, like most of other things in life, that faith was unknown, unproven and untestable. It did not really work. Blind allegiance to god(s) and rulers - the latter supposedly being the former’s agents - was all that was expected from a “religious” person. No adequate level of either freedom or democracy was in situ.

Greek Humanism

Having thus let down the expectations of man and his inborn yearnings, religions - as concepts and organized structures of thought and traditions - started to lose appeal. Such was the case perhaps for the first time in classical Greece owing to the influences of some of its greatest philosophical minds bent on an intellectual and religious rebellion, such as Protagoras

(died c. 415 BC). Man was turning away from god(s) and heaven and towards himself. Man was to be perceived at once as a subject and object, as the beginning of life adventures and their ultimate end. In so doing, man needed a helping hand neither of fictional and impotent deities, nor of heaven as a barren arena of inquiry and hope Man was self-sufficient, in which case the prevalent religious dogmas needed not be rejected outright and immediately. Gradation was the key. What was needed at first was a measured separation from all forms of organized faith and divinity, followed by laying emphasis on human individual and collective potentials as the sole foundation of integrity, virtue and wisdom. Even if there were gods out there and if there were supernatural spheres, people were tired of their rather “ineffective interferences”. They were becoming obsolete and unwanted. It was a time when man needed to rely on himself and his capacities alone. He was urged to calibrate the management of his personal affairs and to find happiness. He was urged to do so exclusively on his own terms. The truth was not out there, but down here It furthermore did not reside outside in some remote and shadowy places associated with imaginary entities but inside the human beings latent in the deepest recesses of their corporeal and rational configurations Like so – at any rate - the proponents of these ideas planted the seeds of yet another ideology-cum-religion humanism. According to it, the idea of god(s) has been either marginalized or totally neutralized, in some cases yet humanized, whereas the idea of man has been deified. Man has been declared a deity as an alternative. His creative and inventive powers were placed on the pedestal, knocking those of god(s) off their perch. The agency of human beings was set to reign supreme. In this latest religion of humanism, human geniuses performing in diverse fields were regarded as prophets their words revelations, and their feats miracles Theology became sociology (social studies) and humanology, humanities or human sciences (study and interpretation of human beings), while religious temples were increasingly rivalled by coliseums auditoriums, theatres, stadia and other sanctums of human interests. Everything that was human was either celebrated or tried to be put into perspective successes, failures, tragedies, strengths, weaknesses breakthroughs, innovations, wants and passions. The battle lines were clearly drawn and what followed next were perpetual wars between man and god(s) earth and heaven, and between the kingdoms of man and the kingdom of god(s). Protagoras as the father of Greek humanism – and humanism in general - is reported to have said: “Man is the measure of all things, of the things which are that they are, and of the things which are not, that they are not.” This maxim became the mantra of humanism in all times and places. Protagoras became its biggest prophet, an idol. The meaning of the maxim is that man and nobody else is the source of the import, purpose and legitimacy with regard to himself, life in general, knowledge (epistemology), values (axiology) and beauty (aesthetics) Man is the master of his own existential and also civilizational destiny. There can be a silver lining in whatever happens: things are based on human freedom and choice, which are not merely acknowledged but as well glorified. Initiatives and executions are human-centric, and that is what matters the most. As a result, man is set but to improve and “grow”. There is no limit to human optimism and hope. Obeying deities could lead a person towards one direction only, that is, towards those deities, but living freely and following one’s amazing capabilities could lead a person anywhere. The above maxim of Protagoras exemplified a profound philosophy, while at the same time condensing its remarkable complexity. Thus, Protagoras was regarded as the first professional sophist or teacher about whom, nevertheless, Plato and Aristotle said that he did not seek the truth but only victory in debates and was prepared to use dishonest means to achieve it (Britannica). However, there was more to the criticism of Plato and Aristotle of Protagoras than meets the eye. The problem was Protagoras’ penchant for a defiant humanism which was generating all sorts of philosophical, social and religious difficulties. According to Ugo Zilioli Plato interpreted Protagoras’ maxim that “man is the measure of all things” as “implying that each perception and even each belief is true for the one who has it. Were this true, Plato asks through Socrates, what sense is to be made of Protagoras’ teaching? What would he be able to teach if each of us were the sole judge of his own private and unerring perceptions? Socrates polemically asks: ‘How on earth can it be the case that Protagoras is wise, so that he can justly think himself fit to be a teacher of others at high fees whereas we are more ignorant, and have to go to his lessons, though each of us is himself the measure of his own wisdom?’” It is no coincidence that Plato emphasized that it was God, and not man, who was the measure of all things. To Be Continued

FRIDAY, OCTOBER 28, 2022 • T H I S D AY

BACKPAGE CONTINUATION THE NORTHERNISATION OF 2023 railroaded Dr Iyorchia Ayu into office as party chairman. With Ayu (from the North) as chairman, the two-plus-twoequals-four-equation is the presupposition that the presidential candidate of the party will emerge from the other half of the country. Right? Wrong. Impervious to the supposition and the bigger assumption of power rotation, Abubakar emerged the presidential flag bearer of the PDP. Lurking in the corner and aiming to take a cue from the outcome of the PDP presidential primaries, the APC actually postponed its presidential primaries to tailor its political calculations accordingly. Regardless of the twists and turns on the road to the primaries, the APC passed the muster test of the power rotation political correctness with the emergence of Governor Bola Ahmed Tinubu as the presidential candidate. Or so it seemed. What the party gave with the right hand, it took back with the left hand when Tinubu and the party caucus settled for a Muslim as his vice-presidential candidate namely Senator Kashim Shettima. Now, the former governor of Borno state is not just another Northern muslim, he came loaded. He was governor of the Borno state epicentre at the height of the fury of the insurgency. If the suspicion is correct that there was an opaque relationship between the northern political elite and the Boko Haram insurgents, all fingers point at Shettima as the manager of such a pact. For good measure, he has let the cat out of the bag that as potential vicepresident he is going to usurp the powers of his health compromised principal and function as the defacto president. The inference from the pandering of these two presidential tickets is that the Muslim North electorate has become a deity whose wrath can only be appeased with a clear political acknowledgement of its preeminence and superiority to the other segments comprising the Nigerian

population. If the PDP had chosen a northern muslim as its candidate, the APC believes the only way it can match this appeasement is by doubling down on its Islamic credentials. Hence the Muslim Muslim presidential ticket of Tinubu and Shettima. Which leaves us with the only balanced ticket among the contenders, the Peter Obi/Baba-Ahmed pair and to which any hope of the salvation of Nigeria belongs. Governor Nyesome Wike is not my cup of tea but regardless of his motives, he is spot on with the categorical request that once Abubakar emerged as the PDP presidential candidate, Ayu, from the north, should not hold the position of the party chairman, a minute longer. I cannot imagine any wanton abuse of the winner takes all mentality worse than an argument to the contrary. If ever there was a needless provocation, this is one. By what definition of equity and justice can we claim the retention of Ayu is the right thing to do? How does the resultant aggravation of the North/South divide square with the advertisement of Vice-President Atiku Abubakar as a political unifier? Wike has thus been handed full measure of the propaganda field and has ceased it with characteristic indignation and bluster. He rails “We have finished presidential primaries, we have a presidential candidate. Is Wike saying remove presidential candidate? Is Wike saying remove vice&presidential candidate? So, what are you begging me for? All I am saying, and I will continue to say is that you have taken president, give us (national) chairman. “I’ve accepted the presidential candidate, I have accepted the vice-presidential candidate, what’s the problem again. You, fulfil your part. Let the South have something, that is all I’m preaching. You cannot have presidential candidate,

national chairman, director general of the campaign.” ‘The Governor said it was hypocritical for some people in the PDP to criticise Muslim/Muslim ticket, while supporting that a particular region of the country should retain the presidency for another eight years’ He insisted that for the sake of holistic peace, PDP should adhere to the tenets of its constitution, which explicitly recommended that when a presidential candidate emerged from the north, the national chairman should be from the South’. In the event, the PDP presidential ticket has been hemorrhaging profusely in the South partly of its own making and partly on account of the inadvertent factor of the Peter Obi presidential run. Smarting from this pressure, Abubakar has found the compulsion to play the northern ethnic card by increasingly casting himself as the northern candidate out to do battle with the Igbo and Yoruba. Not quite in character, Abubakar charged “I think what an average northerner needs is somebody from the north who understands other parts of Nigeria and who has been able to build bridges across the country. That is what the north needs,” Mr Abubakar said in a now viral video. “It (Northern Nigeria) doesn’t need a Yoruba candidate or an Igbo candidate. This is what the northerners need. So I believe I stand before you as a pan-Nigerian of Northern origin.” You get the drift? The 2023 Census It has been announced that the census exercise schedule for April 2023 will cost Nigeria one hundred and ninety billion naira. Given the reputation of the Mohammadu Buhari presidency for profligacy, corruption and crass ineptitude, the chances are that the Nigerian census scheduled for April 2023 may not hold or that the exercise will

end up in shambles and a substantial fraction of the budgeted amount would have found its way into private pockets. Why the stampede?. Why not leave the task to the incoming administration? Against the background of the excitement and alacrity with which the Attorney General, Abubakar Malami typically rushed to announce the acceptance to pay an alarming judgment debt of four hundred and ninety six million dollars in dubious circumstances not long ago, it seems that the expenditure this government prioritises are those that are amenable to the rule of kleptocracy. Speaking to the tragic circumstances Nigeria finds itself, my friend, the 14th Emir of kano, Sanusi Lamido Sanusi “ says our problem are of our own making where a small number of rent seekers become billionaires just from FX arbiratage and oil subsidies. CBN gives you $1 million at 400 Naira, you round trip and sell for 700 Naira, making N300 million profit, round tripping, for doing nothing”. Characterising the oil subsidy regime in which it is claimed that Nigeria consumes 66 million barrels a day as massive fraud, Sanusi compares Nigeria to Pakistan.”Nearly same population, yet Nigeria claims to consume 3 times more fuel than Pakistan. How? You need 2,000 tankers of 33,000 liters to be moving daily, to distribute 66 million liters a day. All this does not make any sense at all” In tandem with the removal of the notoriously fraudulent oil subsidy; a global encompassing economic recession and its domestically manufactured counterpart; the prevalence of a mishmash of terrorism and banditry that pervades the country; and the big elephant in the room namely the February general elections, you do not need a crystal ball to project that Nigeria is headed for a massive turbulence of mayday proportions.

OKEY ORAMAH, THE CALM IN GLOBAL BUSINESS’ STORM performance in Afreximbank. It recognized and subsequently honored him for adding value to humanity and the global economy. Russia gave the credit of the “rapid rise” in prosperity in Africa and Russia to the role of Professor Oramah in invigorating trade and investment relations between the African continent and Russia. An uncommon global feat, largely unprecedented! The Order of Friendship is a state decoration established by Boris Yeltsin, the first President of the Russian Federation and is awarded to Russian and foreign nationals for special merit in strengthening peace, friendship, cooperation and understanding between nations and peoples. Previous winners of the honour include former US Secretary of State, Rex Tillerson; former Malaysian Prime Minister Mahathis Mohammad and former United Nations Secretary General, Ban Ki- Moon Conquering another storm, Professor Okey Oramah won for the second time, the African Banker of the Year in May this year for the leading role he played in mitigating the effects of COVID 19 pandemic on African economy and business. According to the African Banker Magazine, Oramah has grown Afreximbank’s balance sheet and “making it one of the leading banks in the world in terms of its response to COVID 19 by providing the much-needed liquidity and solutions to vaccine acquisition. The award recognizes Professor Oramah’s contributions in championing an African owned fight against the COVID 19 pandemic.” The Afreximbank’s boss served as the chair of the Board of Trustees of the African Union COVID 19 Respond Fund. He is also coordinating grants for mobilization and efficient utilization across Africa as well coordinating the efficient procurement and distribution of medical materials among African countries. Professor Oramah is also leading other continental and private sector initiatives to scale up Africa’s health and economic response to the pandemic He won the award first in 2017 for his pilot role in creating conducive conditions so that businesses in Africa could take advantage of the AfCTFA. For the current stabilizing role being played by the Oramah-led Africa

President and Chairman Board of Directors, Afreximbank, Professor Benedict Okey Oramah

Export-Import Bank on the effects of the Ukraine-Russia war on Africa and the world through the introduction of Ukraine Crisis Adjustment Trade Financing for Africa (UKAFPA) with a worth of $4 billion, two major rating organizations of the world have just upgraded the ratings of Afreximbank. Opening was Fitch Ratings that upgraded Afreximbank Long-Term Issuer Default Rating (IDR) to ‘BBB’ from ‘BBB- ‘The Outlook is Stable on June 23 this year. Fitch also upgraded Afreximbank’s Short Term IDR to F2 from F3 and the long-term ratings on the bank’s Global Medium-Term Note Program and debt issuances to ‘BBB’ from ‘BBB-.’ A month later on July 22, another rating

company, Global Credit Rating (GCR) for similar reasons announced the upgrade of the bank under the leadership of Oramah international scale long- term issuer rating from A- to A, Stable Outlook. In tandem with Fitch, GCR declared that “the many initiatives that Afreximbank has undertaken over the last couple of years, including the recently introduced Ukraine Crisis Adjustment Trade Financing Program for Africa (UKAFPA) worth $4 billion on a net basis, will continue to be a strong underpin of relevance and importance to its shareholders.” To eAarn the new ratings, Oramah has proactively fortified his bank and indirectly African trade and economy against the consequences of the Ukraine war.

In his just seven years of leadership in Afreximbank, Professor Oramah has taken the bank to a level never envisaged by its progenitors. Within this short period, the balance sheet of Afreximbank grew from $5billion to $25billion, a phenomenal 400% leap in growth and year-on-year double digit return to shareholders that span across the globe. And just few weeks ago in Barbados, The Caribbeans, at the first ever AfriCaribbean Trade and Investment Forum (ACTIF), Professor Okey Oramah led the Board of Directors and Management of Afreximbank to sign a historic Memorandum of Understanding with the International Trade Centre to continue facilitating the collaboration between the two institutions in harmonizing efforts for the promotion of trade and economic development. Specifically, the MoU is intended at promoting African-Caribbean Trade, trade finance, addressing climate change, MSMEs and intra African trade. All this happening now, 500 years after such mutually benefitting positive engagements last occurred between Africa and The Caribbean. For his numerous noble accomplishments across the world and for being a super ambassador of his home country, Nigeria, in his career and service to humanity, Professor Okey Oramah was some days ago decorated with the Nigeria’s national honor of Commander of the Order of the Niger (CON) by President Muhammadu Buhari. Exemplifying brilliant leadership, capacity and faith in achieving an unequalled growth for the 29 years old African Export-Import Bank, Professor Benedict Okey Oramah, has in the last seven years invigorated Afreximbank in all aspects, providing the world with solutions to natural and non-natural upheavals, calming the storms in the business world and fitting as the most outstanding Beacon of Life for Africa and the Universe of this time. (Established in Nigeria’s Federal Capital Territory, Abuja in October, 1993, Afreximbank is 29 years old, this month). •Olaosebikan is a public relations practitioner based in Abuja, Nigeria

FRIDAY, OC ͺ΀˜ ͺ͸ͺͺ ˾ T H I S D AY

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Chukwueze on Target in Villarreal, Hapoel Beer Sheva Four-goal Thriller PSV end Arsenal’s unbeaten run, miss Group A top spot

Duro Ikhazuagbe with agency report Nigerian international winger, Samuel Chukwueze, scored to level scores at 1-1 as Spanish side Villarreal battled to share points with Israeli club, Hapoel

RESULTS EUROPA LEAGUE Man Utd FC Zurich PSV Larnaca Fenerbahce Ludogorets Helsinki Malmo U’Berlin Omonia Lazio S’Graz Freiburg Nantes Ferencvaros C’Zvezda

3-0 Sheriff 2-1 Bodo/Glimt 2-0 Arsenal 3-3 D’Kyiv 3-3 Rennes 0-1 Betis 1-2 Roma 0-2 U’ St Gilloise 1-0 Braga 0-2 Sociedad 2-1 Midtjylland 1-0 Feyenoord 1-1 Olympiacos 2-1 Qarabag 1-1 Monaco 2-1 Trabzonspor

EUROPA CONFERENCE Villarreal 2-2 Hapoel S’

EUROPA LEAGUE Beer Sheva in a thrilling 2-2 draw result yesterday. After Tomer Hemed had fired the visitors into the lead of Europa Conference League barely three minutes after the first half break via a penalty, Super Eagles winger Chukwueze wasted no time in cancelling out Hapoel’s advantage in the 54th minute. Another Villarreal player with Nigerian ancestry, Amaut Danjuma, gave hope to fans of the home team when he extended their lead in the 70th minute. That too did not last as Hapoel fought back gamely in the 79th minute when Sagiv Yehezkel drew the Israeli side level two goals apiece. Both sides fought hard to grab the winning goal so to smile away with the three goals at stake but did not materialize. The match was Chukwueze’s fourth appearance in the UEFA second tier competition. He now have two goals and two assists to his name so far this season in the competition. Meanwhile, Premier League leaders Arsenal missed a chance to seal top spot in Europa League Group A as they lost 2-0 to PSV

Eindhoven in the Netherlands. The Gunners only needed a point to go straight through to the last 16 next March. It also ended their unbeaten run since start of the new season. But Joey Veerman's first-time finish from 16 yards and a

header by substitute Luuk de Jong - after a mistake by keeper Aaron Ramsdale on his European debut - saw Mikel Arteta's side lose in Europe for the first time this season. PSV, managed by former Manchester United forward

Ruud van Nistelrooy, also had three goals ruled out for offside as Arsenal were well beaten. The Gunners need to beat Zurich in their final group game next Thursday at Emirates Stadium (20:00 GMT) to guarantee a place in the last 16.

If they fail to win and PSV beat Bodo/Glimt in Norway, Arsenal will face two extra games in the knockout round playoffs, where teams that finish third in the Champions League group stage, including Barcelona, drop into.

CAF Appoints Egyptian Ofﬁcials for Rivers Utd, El Nasr Clash C O N F E D E R AT I O N C U P Ahead of the first leg match of the CAF Confederation Cup Playoffs round, the African soccer ruling body has named Egyptian match officials for Rivers United and El Nasr matches The continental football body yesterday named Mohammed Maarouf Eid Mansour of Egypt as the centre referee for the game. The 35-year-old will be assisted by his compatriot Mohammed Abouzid Halhal (Assistant referee

1) and Ahmed Hossam Eldin (Assistant referee 2) while Mohammed Adel Elsaid Hussein will serve as the 4th official. Prince Kai Saquee from Sierra Leone will be the Match Commissioner and Gambia's Mendy John will be the Referee's Assessor while Ozi Salami is to serve as the Covid-19 officer. The game is slated for the Adokiye Amiesimaka Stadium in Port-Harcourt next week.

Record Entries Thrill Organisers of IWTPA Tourney Organisers of the forthcoming Island Woman’s Tennis Players Association tournament billed to take place on Saturday October 29in Lagos are thrilled by the large number of entries received for the event. In partnership with Lakeboone Cancer & Comfort Foundation, IWTPA has concluded arrangements for the maiden edition of the competition aimed at creating more awareness for Breast Cancer. Female Tennis players from all parts of Lagos Island are expected to be part of the open tennis competition already scheduled to take place on Saturday October 29at the Lekki Tennis Recreation Centre at Lekki Phase 1, Lagos. Interestingly however, the registration for the competition has surpassed the anticipated 30 players mark as the organisers have expressed shock over the development. The Vice President of IWTPA and the spokesperson of the body, Nora Azubuike, on Thursday

stated that the anticipated 32 draw chat would now have to be extended. Azubuike noted that some technical issue would have to be adjusted because more matches would have to be played in the one-day tournament. “Being the first edition, we were not expecting more than 30 players but many people have shown interest and we are looking at about 50 tennis players. “We expect our technical people to adjust the logistics and ensure we still complete the matches same day. Beyond the matches, we expect bonding among the ladies from various clubs on the Island.” The maiden IWTPA Tennis tournament is to serve off at 12noon at the Lekki Recreation Centre on Saturday and leader of the Planning Committee, Patricia Duru, has assured all participants and other women that there would be a free breast screening also on Saturday.

Samuel Chukwueze (left) was on target as Villarreal drew 2-2 with visiting Hapoel Beer Sheva in a Europa Conference League game...last night

CAF Issues Deadline over Bids for AFCON 2025 Hosting Rights The Confederation of African Football (CAF) has set 11 November as the deadline for countries to declare interest in staging the 2025 Africa Cup of Nations. A new host must be found after Guinea was stripped of rightsbecause of concerns over infrastructure and facilities. The continent's governing body expects finalised bids, including documents, proposed host cities and government guarantees, to reach its Cairo headquarters by 16 December. CAF inspection teams will tour bidding countries from 5 to 25 January next year in its quest to find a suitable replacement for Guinea. Findings from the inspections will be submitted to the 24-member CAF executive committee, which will announce the successful country or co-hosts to stage the 2025 finals on 10 February. A top CAF official told BBC Sport Africa that the body wants to avoid the embarrassment of awarding the event to countries who are "unable to raise good infrastructure and hospitality to show to the rest of the world".

Cameroon was the venue for the 2021 Nations Cup earlier this year while Ivory Coast is set to host the 2023 finals, which will be played in early 2024. Some countries have already shown interest in bidding for the 35th edition of the continent's showpiece, but they are yet to

make official declarations. Morocco, which hosted this year's Women's Africa Cup of Nations finals in July, intends to apply to host the 2025 men's finals, a source within the Royal Moroccan Football Federation indicated. Nigeria's early interest to step in and co-host with Beninhas

gone quiet since Amaju Pinnick's exit as president of the country's football body (NFF). Bids from Algeria, South Africa and Senegal have only been speculative, although public interest is overwhelmingly in favour of the latter staging the competition.

One Person Dead, Arsenal Player, Others Injured in Italy Stabbing

Pablo Mari...Arsenal player stabled in Italy

One person has died and at least six others have been injured - some seriously - in a stabbing in a supermarket near Milan, northern Italy, reports announced yesterday. BBC reporter that an employee of the Carrefour supermarket died after a man started attacking people in the town of Assago. Among the injured was Pablo Mari, a football player on loan from Arsenal. A 46-year-old suspect has been detained. The motive for the attack is not yet clear.

Friday October 28, 2022

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Price: N250

MISSILE Engineer to Federal Government “Making Lokoja the Kogi State capital was already looking for trouble because it is a confluence town that has little or no clearance around the confluence points. With subsequent developments, actually blocks the current flow of the water. Yenagoa, the Bayelsa State capital is the same thing. They keep developing on the exit point of several rivers. Now the ocean is rising, in which case, it is coming back. Water from the hinterland is also voluminous. So, on both sides of the divide, it is like a war“ –A Chartered Engineer at Accord Engineering Ltd; Benjamin Olamijulo, baring his mind on how to mitigate the ravaging floods in the country.

AKINOSUNTOKUN DIALOGUE WITH NIGERIA

akinosuntokun@thisdaylive.com

The Northernisation of 2023 “C

onscious of this (Northern) hegemony and the fact that it does not have to be incompatible with the progress of Nigeria I have always argued that Northern hegemony per se is not the problem of Nigeria. It is the double jeopardy indicated in its abuse and wanton mismanagement that is the problem”. Whenever I write on the subject of Northern hegemony in Nigerian politics, I have always found the need to enter this rider to guarantee a fulsome understanding of my premises on the subject matter. An underlying theme of the post independent political history of Nigeria is what has come to be characterised as a northern agenda and strategy whose defining feature is regional hegemony and supremacy. And it is deployed through three major instruments. First is the attribution of higher population to the North. Second is wielding the upper hand in the balance of terror equation.This objective was set in motion by the vision and calculation of the first generation of pre and post colonial northern political elite. According to the Shehu Yaradua foundation “For the generation of the late Shehu Yar’adua for instance, ‘joining the

Atiku

army in 1962 was a statement of political faith. A politically better informed Northern elite had come to recognise the neglected significance of the military in independent Nigeria. President Mohammadu Buhari

equally weighed in ‘“the Emir of kano told one of us that if soldiers could overthrow a line of kings descended directly from the prophet in Syria, it could happen anywhere. So we should go and join the army’”. Third is a pan Islamic isolation and insulation of the northern region from the cosmopolitan accretion of european modernisation especially British missionary activities (with the inherent effect of rendering the masses malleable and captive to politico-religious manipulation). This was the condition precedent that the northern traditional and political elite requested at the entry point of their colonial incorporation into amalgamated Nigeria. The request suited the ulterior motive of the colonialists to be spared the burden of direct governance of the region-on account of which the British readily acquiesced. The ensuing rapport marked the commencement of a mentor/ protege relationship between the two that views Nigeria through the prism of the Northern standpoint. The deleterious effect of this dispensation (to which the British are complicit) is the attendant weaponisation of ignorance and stratified class system predicated on a pseudo theocratic order. These three

elements: a permanently contrived higher population advantage; stranglehold over the powers of coercion and the insulation of the electorate from extra regional political mobilisation and recruitment, have combined to vest the regional political elite with the semblance of a veto power over the political direction of Nigeria. The power rotation convention was directed at the mitigation of making this veto a relative rather than an absolute power politics instrument. The question that arises is how has this foregoing understanding play out in the current electoral cycle? The first significant categorical challenge to the power rotation assumption emanated from the ranks of the Peoples Democratic Party, PDP with the show stopper postulation by my big brother Raymond Dokpesi. In playing John the baptist to the candidacy of vice-president Atiku Abubakar he advanced the thesis ‘that the only chance the PDP has in winning the 2023 presidential election is by fielding in a northern candidate, specifically from the North-east zone and preferably the former Vice President Atiku Abubakar’. Prior to this statement of intent, the Atiku Abubakar faction of the party had Continued on page 54

KEHINDEOLAOSEBIKAN GUEST COLUMNIST

Okey Oramah, The Calm in Global Business’ Storm

Just like rose with its thorns, the sweet and beautiful world we live in, is with its vicissitudes. As humans, the homo sapiens evolved from creation, making the best use of the fauna and flora of the world and engaging their superior knowledge and intelligence above other creatures for development, so exist natural upheavals mostly out of their control. They come in form of storms: thunder and lightning flashing down from the skies, striking the earth; hurricane and Tsunamis that make the seas swell and rise up like a dreadful monster destroying everything in their path; earthquakes and landslides that send powerful tremors through the earth crust causing monumental damages; volcanoes that erupt, spitting fires of death pouring streams of scathing hot lava annihilating every living thing in its trail; shipwrecks etc. Yet, there are manmade storms - selfinflicted injuries that have burdened humanity with misery. Accidents caused

by negligence and human error or frailty, wars and anarchies caused by inflammatory words. Reckless behavior, violent temperament, caustic pride, arrogance, brazen oppressive use of power, intolerance, greed, selfish reasoning and anger. Interestingly, in all these, life still finds equilibrium. Even, in chaos after every negative comes a positive; after the frightening, rumbling thunderstorms often comes the refreshing rain; after the roaring hurricane and the destructive tsunami often comes the gentle breeze that seems to kiss the earth, soothing her troubled soul; after every chilly and cold winter that seems to freeze life to death comes a restoration of a new life in Spring. Nature tells us a parable of the paradox of life that, in spite of the frightening flashes of storms, there are stabilizers, restorers, reformers and revitalizers even within the disturbances and they have always been there, to restore sanity and peace, often silent, innocuous but sure, steady and steadfast. Usually very few,

rare, one or two in a generation, they, like the prophets of old, are sent to guide their people, after blundering and fumbling in the dark alley into the light. Through the several storms of global business including the unending COVID 19 pandemic, one man has emerged as the stabilizer and revitalizer of our time, repairing damaged intercontinental business relations, restoring trust among nations and continents, proactively providing solutions to pandemics, engendering strength for global business, fostering oneness in Africa and the universe, generally revitalizing global trade and pulling off greater peace and progress for the entire world. He was first, formally recognized as one by no less a personality than Mr. Viladmir Putin, the President of the largest country in the world and the second most powerful leader on earth after ascertaining the person responsible for the restoration and revitalization of the comatose trade and business between Russia and Africa. Precisely on November 4, 2019, President

Putin honoured the Nigeria-born Professor Benedict Okey Oramah, the incumbent President and Chairman of Board of Directors of the Africa Export-Import Bank (Afreximbank) with the prestigious Russian National honour of ‘The Order of Friendship’ in Kremlin, Moscow. Bestowing the esteemed national honor on Oramah, President Vladimir Putin declared: “It is in recognition of the role played by Afreximbank (under Oramah) revitalizing trade and economic relations between Africa and Russia as evident in the success of the Russia-Africa Summit and Economic Forum held in Sochi, Russia Federation, between 23 and 24 October and the rapidly rising trade and investment relations between Russia and Africa.” The Federation of Russia, the second most powerful country in the world, saw accomplishment in the feats of Professor Oramah beyond his stellar Continued on page 54

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