MONDAY 30TH OCTOBER 2023 by THISDAY Newspapers Ltd

15-point Agreement: NLC Wants Minister of Labour Excluded from Today’s Meeting with FG Insists Wednesday's protest in Imo will hold

Onyebuchi Ezigbo in Abuja Nigeria Labour Congress (NLC) has threatened to boycott today's meeting

with the federal government, meant to review the 15-point memorandum of understanding (MoU) it had signed with the government, if the

Minister of Labour and Employment, Hon. Simon Lalong, would be in attendance. NLC also vowed to go ahead

with its protest in Owerri, the Imo State capital, scheduled to hold on Wednesday over an unresolved dispute with the state government

on the sack of workers and unpaid salaries. It alleged that more workers had lost their lives to hunger in Imo State than those killed by unknown

gunmen and insecurity. Addressing a press conference in Continued on page 5

Subsidy Removal: FG Targets 1m Gas-powered Vehicles by 2027...

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Rivers Assembly Set Ablaze over Alleged Move to Impeach Gov Fubara...

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Tinubu, Atiku, Barau, Northern Governors, Ganduje, Melaye, Ajaka, Others Mourn Ohinoyi of Ebiralamd Deji Elumoye, Chuks Okocha, Adedayo Akinwale, Sunday Aborisade in Abuja, Ibrahim Oyewale in Lokoja and Segun Awofadeji in Gombe President Bola Tinubu and former

Vice President Atiku Abubakar were among prominent Nigerians who, yesterday, condoled with the government and people of Kogi State over the demise of revered traditional ruler, the Ohinoyi of Ebiraland, His Majesty, Dr. Ado

Ibrahim. Others who offered their condolences to Kogi State were National Chairman of the ruling All Progressives Congress (APC), Dr. Abdullahi Ganduje, Deputy President of the Senate, Senator

Jibrin Barau, and Chairman of Northern Governors' Forum and Gombe State Governor, Alhaji Muhammadu Inuwa Yahaya. They expressed their sympathies in separate statements yesterday. The paramount ruler died

yesterday at the age of 95 after a brief illness. Tinubu, according to a statement issued yesterday by his media adviser, Ajuri Ngelale, said Continued on page 5

Late Ado Ibrahim

Tinubu: We’re Set to Change Narrative Surrounding Nigeria’s Economy Reiterates with supreme court affirmation of his election, no more distractions Deji Elumoye in Abuja President Bola Tinubu has expressed the readiness of his government to change the narrative about Nigeria’s weak and crawling economy and transform governance in the country. Tinubu made the assertion yesterday during bilateral talks with German Chancellor, Olaf Scholz, and his entourage at State House, Abuja. According to the president, "Nigeria is still crawling, but we are determined to change the narrative and bring about a transformative government in the country. "You are very welcome with your delegation to partner with in terms of education, power, mineral resources and all the other opportunities. We have a long way to bring about security of our people.” Before addressing a joint press Continued on page 5

CHANCELLOR SCHOLZ VISITS TINUBU… Visiting German Chancellor, Olaf Scholz ( L ) with President Bola Ahmed Tinubu during Chancellor's visit to the Presidential Villa Abuja..... yesterday

GODWIN OMOIGUI.

Adeleke: Osun to Get Five Flyovers, 45 Roads from N100bn Infrastructure Plan...

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NAOWA: 7m Women Diagnosed with Breast Cancer Unlikely to Get Proper Treatment Seriki Adinoyi in Jos

The Nigerian Army Officers Wives Association (NAOWA) has taken a vigorous awareness campaign on breast and cervical cancer to the 3rd Armoured Division of the Nigerian Army, Maxwell Khobe Cantonment, Jos, Plateau. As part of the campaign, NAOWA embarked on a cancer awareness walk and public lecture to mark 2023

Breast Cancer Day, lamenting that more than seven million women diagnosed with breast cancer in recent years might lack proper detection and treatment measures. Chairwoman of NAOWA, Mrs Fibishola Abubakar, said global studies indicated that in 2020, about 2.3 million women were diagnosed with breast cancer and 685,000 died of the deadly disease. Abubakar stated, “Public health

education is a crucial tool to raise awareness among women and their families, ensuring they understand the importance of early detection.” While commending NAOWA President, Mrs. Mariya Lagbaja, and the General Officer Commanding (GOC) 3rd Armoured Division, Major General Abdulsalam Abubakar, Abubakar urged all hands to be on deck to reduce the scourge of breast cancer in Nigeria.

Presenting a talk on the prevalence, risk factors, and prevention of cervical cancer, a midwife, Mrs. Amarachi Favor, emphasised the vital role of regular papilloma smear screening, Human Papilloma Virus (HPV) vaccine, and early detection in mitigating the disease. Mrs. Judith Onuoha, a staff nurse, emphasised the importance of regular clinical check-ups and

mammograms. She also cleared misconceptions about the disease and urged women to take charge of their breast health. Meanwhile, Dr. Akom Bassey and Major E. Effiong explored the causes, symptoms, and preventive measures against prostate and liver cancers, respectively, highlighting the role of good diets and healthy lifestyles in reducing risks, including regular exercise and medical check-ups.

TINUBU: WE’RE SET TO CHANGE NARRATIVE SURROUNDING NIGERIA’S ECONOMY

conference, Tinubu and Scholz engaged in three separate meetings, including bilateral political discussions and a government-to-business roundtable. During the political dialogue, Tinubu called for improved cooperation with the German government in security, natural resources, education, and democracy, among others. He assured Scholz that Nigeria, which is the largest economy on the African continent, was ready to partner with Germany, which occupies same position in Europe. The Nigerian president told Scholz and his entourage, “Our economic team and members of the group are all here, ready to partner with you, with Germany as the largest economy in Europe, and the largest economy in Africa is Nigeria, you know that. “We are blessed with good environment, weather, and blessed in terms of mineral resources. “Our hydrocarbon industry is still

fledging environmentally while we are moving towards the transition energy source. “I know Germany has advanced a lot in protecting the environment and modernising energy to meet the 21st century needs, both of the world and Europe, in particular." Tinubu expressed the preparedness of his government to take Nigeria's development to the next level, especially as the issues that could have potentially distracted him (poll litigation) had been recently resolved by the Supreme Court. He stated, “It is a profound pleasure for me to welcome my friend, Olaf Scholz, to Nigeria. It is a joy to see you here at this particular period of time. “It is just about a few days ago that the Supreme Court of Federal Republic of Nigeria had a final say on our electoral exercise. “The distraction is over. This gives us more time to focus on governance for the people and moving Nigeria forward for economic opportunities

and prosperity that will defend democracy. “In our last tete-a-tete, you made a promise that you will be visiting Nigeria and, thank you and your delegation for keeping that promise. It is an honour for me to see you here.” Speaking at the Government-toBusiness Roundtable, the president disclosed that his administration was conversant with the characteristics of a typical business environment, hence, the series of reforms and policy readjustments the country had seen in recent times. e said because his government was conscious of the fact that investments hardly did well in an environment of delay and conflict, much had been put in place, including tax reforms, to free the system of multiple taxation and ensure foreign investments were preserved and returns multiplied. Tinubu said, “Nigeria has gone through a lot of reforms, yet, we cannot be 100 per cent sure everything

goes smoothly. Some of you might not be here while we were discussing the rule of law, I know…for businesses, particularly investors, because I’ve been in that environment before, I am from that constituency. “I was once a treasurer, ExxonMobil in Nigeria, so I can understand the pain and delays of investment, I can understand the pain and delays of conflict in any business partnership and you cannot remove conflicts from the process, but you can minimise it. But how well the investor’s investment is protected is very clearly very important. “Investment is cowardly, it doesn’t like delays and conflicts, it will run away, we understand that. Equally, time management, to promote efficiency and smooth operation under the rule of law is crucially important. “We are reforming our economic and business environment to promote efficiency. You might have read or been aware that we have removed oil subsidy, we’re going through tax

TINUBU, ATIKU, BARAU, NORTHERN GOVERNORS, GANDUJE, MELAYE, AJAKA, OTHERS MOURN OHINOYI OF EBIRALAMD the death of the Ohinoyi was a painful loss. He described the late monarch as peace-loving, affable, and cerebral. The president said in the statement, "The Ohinoyi of Ebiraland was in a class of his own. He was highly respected and admired for his deep insights, wisdom, and sophistication. He had a masterful way of handling issues. He was very knowledgeable and wise. "May Almighty Allah grant His Majesty Aljannah Firdaus." Tinubu said the people of Kogi State should take solace in the legacy of peace and fellowship left behind by the late monarch. Similarly, Atiku, who was the presidential candidate of Peoples Democratic Party (PDP) in the last presidential election, expressed shock and sadness over the death of the Ohinoyi of Ebira land. Atiku wrote on his X account, "I am saddened by the news of the passing of the Ohinoyi of Ebira land, Dr. Ado Ibrahim, in the early hours of today. "It is even more saddening that the paramount ruler of Ebira land, a custodian of our traditional norms and an inspiration to his people, left us at this period of national crisis when his services are needed the most. "I, on behalf of my family, commiserate with the people of Ebira land and the government and people of Kogi State over this loss.

"I pray that Allah, the benevolent and the merciful, will forgive his sins and grant him eternal rest in paradise.” In a similar vein, Ganduje expressed shock over the demise of the traditional ruler. Ganduje, in a statement yesterday by his Chief Press Secretary, Edwin Olofu, said the first-class monarch, who died at a health facility in Abuja, ascended the throne of his forefathers on June 2, 1997. The APC national chairman said Ibrahim lived his life for the growth of Ebiraland, in particular, and Kogi State and Nigeria, in general. He noted that the fascinating life and journey of the late monarch were a testimony of his resilience, wisdom, and dedication to tradition. He commiserated with the Kogi State governor, Yahaya Bello, the immediate family of the late monarch, and the entire people of Kogi State for the loss. Kogi State Branch, Council of Ulama’u of Nigeria, also commiserated with Bello, the families of the deceased, and the Sultan of Sokoto, Alhaji Sa’ad Abubakar, over the Ebira paramount ruler’s death. The council also sent condolences to relations, Chairman of Kogi State Traditional Council, Chief Imam of Ebiraland, Shaikh Muhammad Salihu Abere, the entire Muslims in Kogi State, Nigeria and beyond over the demise of the traditional ruler.

It asked the Almighty Allah to continue to shower His mercy upon him, forgive all his shortcomings, grant him Jannat Firdaus, and grant the Ummah the fortitude to bear the loss. Barau equally extended condolences to the government and people of Kogi State. In a statement by his Special Adviser on Media and Publicity, Ismail Mudashir, Barau described the late royal father, who reigned for 26 years, as an outstanding promoter of peace and unity in the country. He prayed to Allah SWT to grant the deceased, who was Vice Chairman of the Kogi State Traditional Rulers Council, Aljannah Firdaus. He said in the statement, “There is no doubt that the Ohinoyi was a man of integrity, who spoke his mind and was always ready to defend the truth. He was a patriotic and detribalised Nigerian, who worked for the peace and development of the nation.” Yahaya, who is Chairman of Northern Governors' Forum, conveyed his heartfelt condolences over the demise of the paramount ruler. He stated, "Dr. Ado Ibrahim's reign witnessed tremendous progress in his domain, leaving an indelible mark on the traditional and cultural heritage of the Ebira people. He was a cerebral leader of uncommon wisdom, humility

and integrity.” According to him, "The late monarch's legacy of peace, honour, unity, and the preservation of cultural heritage will continue to inspire and guide the Ebira race, the northern region and Nigeria as a whole for generations to come." The Kogi State governorship candidate of Social Democratic Party (SDP), Alhaji Muritala Yakubu Ajaka, described the death of the Ohinoyi of Ebira land as a calamity to the people of the state. Ajaka said the passing of the monarch robbed the state of the bravest, most courageous, honest, forthright, and God fearing leader, who worked tirelessly for the unity of the people of the state. He stated, "Our father is leaving at a time the state desperately needs his unifying guidance and wisdom to keep strengthening us as one indivisible people "The last time I visited him, late Ado Ibrahim was as courageous as ever when he declared that been the oldest paramount ruler in the state every kogite is his child and he would not be intimidated by anyone to reject his own children." Due to the death, the SDP Campaign Council suspended all activities scheduled for yesterday, including a world press conference it had scheduled in Abuja. “All SDP flags at our campaign offices throughout the state will fly at half-mast through this week in honour of our late king,” he added.

reforms to eliminate double taxation and give you better returns on investments, and there are principles that will ensure your investment grows well and is protected. "We definitely welcome you to the collaboration, we’re happy this is happening to us. I believe that my friend will add more to the value of Nigeria’s environment. “We have discussed that, I’ve made a commitment to you that we’ll promote the efficiency, easeof-doing-business and remove all conflict areas that might be possible immediately.” Answering a question on the federal government’s alleged refusal to readmit over 12,000 Nigerians, who were unable to meet Germany’s asylum provisions and risked deportation, Tinubu said such individuals were welcome back home. He, however, disclosed that both countries were working on regularising the stay of those who were economic refugees, according to the immigration laws of the two countries. According to him, “We had a very deep discussion on this and you have to separate the economic refugees from real refugees. We have a programme to work in partnership to really ensure normal migration and deepen the relationship in that area. I'm not making any demands, if they are Nigerian citizens, they are Nigerian citizens, and they are welcome back home. Nothing should send them away. “We are ready to enter into partnership to improve the migration situation since other young and vibrant people can go through the process according to the immigration law of the country to accept them as long as they are of good behaviour and good character. We are ready to work together in that direction.” On migration, Scholz said the debate was on and soon the grey areas would be sorted out. He stated, “The first is yes, there is a need in Germany for people that have talent and that want to work in our country in a way which is a regular path for migrants. And we are working intensely in this field and we want to get more progress and get things agreed in detail. “The second is that part of this is also an agreement that those who have not the right to stay in my country can go back and should go back and this is part of something that is a win-win story for the two countries and in this sense, we had a debate and I think we will fix it very soon.” The German chancellor stressed his country’s commitment to democracy and the rule of law and emphasised

NAOWA President, Mrs Mariya Abiodun Lagbaja,

its commitment to security and economic development of Nigeria. Scholz stated, “We are all committed to democracy and the rule of law. And it is important for us to make this a lifestyle for countries. It is good for a better future for our people. And so I'm very happy that we can work on this discussion. “Even on the question on how we can continue to support you in doing the best and having this insecurity questions in your country as well. And we will go into the details later, but I can assure you that we will continue our support and our cooperation also in this field.” On areas of cooperation, Scholz stated, “One of the main aspects for cooperation will be developing the economy and using the economic opportunities of your country. As you already said, there are a lot of chances not just from gas and oil, which is traditionally linked to your country, but there's a lot of room for improvement and for better using the capacities of your country. “But also for going into investments for the future, which is about hydrogen and all the things that are important for an economy that is able to produce all the necessary goods for the people without harming the environment. “But this is something where cooperation is also important and we will do so and it will be an important aspect of our work together.” The German leader regretted that minerals were just about extraction, as they end up in other country rather than for Nigeria’s development. According to him, “It is also important that we use the way of developing your economy in the fields of the minerals you have. I think that the investments into this structure must be easy, but also benefitting for your country. “It is something that bothered me a lot in the past that sometimes it was just about extraction, which is not enough. There should be one bit more for making it feasible that some parts of the economic development can be used in the countries of origin. “This is not the case today in our world, but if we change this a little bit, it will change a lot and working on this field is also important for us. We see that a lot of investments have to be taken looking at infrastructure and it's not just about roads and railways. “It is also about electricity, the infrastructure using the grid making feasible that all the produced energy or the power that is already there could go to the people because they are making it and finding a way how we can develop economy in this field will be also important.”

15-POINT AGREEMENT: NLC WANTS MINISTER OF LABOUR EXCLUDED FROM TODAY’S MEETING WITH FG Abuja, yesterday, NLC President Joe Ajaero said organised labour had been invited to the State House, Abuja, by Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila, to review the report on the implementation of the agreement reached with labour on measures put in place to address the adverse effect of petrol subsidy removal. Ajaero said, "Hopefully, we may meet tomorrow with the federal government to see whether the agreement with organised labour on the fuel subsidy removal palliatives were met or not. “If that meeting is to hold, it will be without the Minister of Labour and Employment because we will not be part of any meeting with the

federal government that the Minister of Labour and Employment will attend. “You will recall that the decision we had on National Union of Road Transport Workers (NURTW) was that all parties, including the police, should vacate the premises pending the resolution of the dispute, but that did not happen. "Therefore, any meeting we will have with the federal government, the Minister of Labour and Employment will not be part of it." Ajaero accused the minister of going against the agreement on the crisis at NURTW by taking sides with a faction in the dispute. NLC had earlier accused Lalong of supporting the group the labour

movement described as an illegal faction of NURTW and encouraging them to conduct their own delegates’ conference, both zonally and nationally, in a bid to confer legitimacy on the group. Based on the allegation, Ajaero said NLC believed that any meeting with the minister was a waste of time, as he appeared not to be in control of issues as far labour relations were concerned. On the dispute with the Imo State government, Ajaero said NLC was deeply concerned about the persistent and egregious violations of the rights and privileges of workers by the state government. He threatened that labour might be forced to make a political statement

on the maltreatment of workers if the state government failed to resolve the dispute, adding that it may not hesitate to shut down the state on election day. Ajaero stated, "Despite our repeated efforts to engage in constructive dialogue and reach amicable agreements, the Imo State government has become a habitual and serial breaker of these agreements, continuing to trample on the rights of workers in the state. "As a result, we are left with no choice but to embark on mass protests and industrial actions beginning on (Wednesday), the 1st day of November, 2023 to demonstrate our outrage and stop the continuing violation of the rights and privileges

of workers in the State.” The NLC president accused the Imo State government of refusing to implement previous agreements reached with workers in the state. He said the state government had repeatedly reneged on agreements, most notably the accord reached on January 9, 2021, between the government and organised labour. Ajaero listed the Imo State government’s infractions to include those regarding agreements on outstanding salary arrears; unjust declaration of workers as ghost workers; vandalism of NLC state secretariat; implementation of discriminatory pay; non-compliance with national minimum wage; and unsettled gratuity arrears.

The NLC president said some workers had been subjected to a staggering 20 months of unpaid salaries under the unfounded label of “ghost workers”. He said, "Approximately, 11,000 hardworking individuals have been unjustly branded as ghost workers, their salaries diverted even while they diligently carried out their duties. "The wanton destruction of the NLC state secretariat is a blatant attack on the rights of workers and a violation of the sanctity of their representative body. "The introduction of discriminatory pay practices and the imposition of apartheid-like policies in determining monthly payments is an affront to fair labour practices.

MONDAY OCTOBER 30, 2023 • T H I S D AY

T H I S D AY • MONDAY, OCTOBER 30, 2023

NEWS

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 08074010580

THANK YOU AUDIENCE WITH HIS MAJESTY… L-R: Nigeria's Ambassador to Thailand, Amb. Oma Djebah was received in audience by the King of Thailand, His Majesty, King Maha Vajiralongkorn Phra Vijiraklaochuaoyuhua and Her Majesty Queen Suthida Bajrasudhabimalalakshana, as part of Djebah’s winding down activities, as he seized the opportunity to convey the customary felicitations of His Excellency Bola Ahmed Tinubu, to His Majesty while thanking the King for a friendly working atmosphere in Thailand.. at Dusit Palace, Bangkok recently

Subsidy Removal: FG Targets 1m Gas-powered Vehicles by 2027 James Emejo in Abuja The federal government has unveiled plan to deliver one million Compressed Natural Gas (CNG) vehicles by 2027. The move seeks to promote the use of CNG as an alternative to petrol, following the removal of petrol subsidy which had brought hardship on Nigerians. The plan was disclosed by the Programme Director, Presidential CNG Initiative, Mr. Micheal Oluwagbemi, at a stakeholders' meeting held at the weekend. The meeting was to formalise partnership with the Nigerian Institute of Transport Technology (NITT), FEMADEC Group, among others, aimed at catalysing sustainable transportation in the country. He said the government intended to establish 1,000 conversion workshops across the country, stressing that the initiative would provide over 50,000 jobs as well as cushion the impact of subsidy removal. He said, "We have a goal, one million vehicles by the year 2027 and that allows Nigeria to save about $20 billion in 10 years and also allows us to manage transport inflation.” He explained that there was ongoing plan to launch 55,000 CNG conversion kits for existing PMS-dependent

vehicles within the timeframe specified by President Bola Tinubu. Oluwagbemi said, "Our goal in the presidential CNG initiative, as stated by the President in his October 1 speech is to make 55,000 conversion kits immediately available to the Nigerian public so that we can begin to jumpstart the CNG revolution. "The palliative program as described by the president is on July 31 speech is here until March 31 of 2024. So, technically speaking, we are expected to roll out 55, 000 within that time frame. "Given of course naturally, we are quite a bit constrained when it comes to the number of workshops and there's a reason why we're here today. We only have seven functional workshops in the country. In our estimate, we need about 1000 to be able to achieve our goal. "Today, we're rolling out our initial partnership because there'll be more partners, and there'll be more investors in the sub sector with four, one of them being a national NITT to roll out additional seven workshops in the next 14 days. "We believe they can do more but what we will have to do is to double what they have in 14 days and from there we can

start doubling after 14 days, in that way we can be able to get closer to our goal of having workshops everywhere there is CNG in Nigeria so that we can convert those 55, 000 vehicles.” He said, "We have a goal, one million vehicles by the year 2027 and that allows Nigeria to save about $20 billion in 10 years and also allows us to manage transport inflation. "You will have five people working there in two days. So, if we have 1, 000 workshops, we are talking about 5,000

jobs for technicians, including the cost of the labour and manpower that will go into the increased supply of CNG, processing stations, model stations, and refuelling stations that will not run on this ecosystem. "So, the number of jobs that will be rolling out under this program, even under the pilot phase in six months, easily with support of about 50,000 jobs that never existed before that will be supported by this programme."

The North East Development Commission (NEDC) has solicited the cooperation and partnership of the Bauchi State Government for a successful operation in the State and the region. This was just as the Commission strongly warned contractors handling various projects across the sub-region against compromising contract specifications. The Chairman of the Commission, Major General Paul Tarfa (rtd), said this when he led the newly reconstituted members of the

NEDC Management Board on a familiarisation visit and projects inspection in Bauchi State weekend. At the palace of the Emir of Bauchi, Dr. Rilwanu Suleiman Adamu in Bauchi, the NEDC Chairman said the reconstituted board of the commission was ready to continue its laudable projects, adding that this time around it would collaborate with relevant stakeholders in the state to embark on more projects that has direct bearing on the lives of the citizens of the state. According to him, "We are in Bauchi in continuation of what we

“So, the idea is just to take the gas to distribute it across Nigeria via different trucks stations. Most gas are not CNG enabled and what we are doing is to help them convert their cars so you can use petrol and CNG at the same time. "We are going to develop an app that will enable you to know where a CNG station is located. We should be able to buy gas for our cars at N230 when today petrol is N680. So, it will help save about two-thirds of your money."

Alleged $2.5Bn Fraud: FG Writes UK, Seeks Fresh Extradition of Diezani Alison-Madueke Alex Enumah in Abuja The federal government has made a fresh request to the United Kingdom government, for the extradition of a former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke. The fresh request is said to be related to a $2.5 billion fraud, involving the former Minister, who left Nigeria since 2015. Alison-Madueke has since then been in the UK until recently when the government there arraigned her on charges bordering on bribery said to have

been committed in the UK. However, barely six months into the Tinubu's administration, the Attorney-General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, SAN, it was learnt, has made a request to the UK government for the extradition of the Mrs AllisonMadueke. It was also learnt that the Economic and Financial Crimes Commission (EFCC), had officially written to the office of the Minister of Justice early in the month for Diezani's arrest and subsequent extradition.

New NEDC Board Embarks on Projects Inspection, Solicits Cooperation, Partnership with Bauchi Govt Segun Awofadeji in Bauchi

On his part, the Special Assistant on Special Duties and Domestic Affairs to Mr. President, Toyin Subaru, stressed that the initiative was all about substituting import. He added, “We spend over $5 billion on petrol to import it and that is what is causing all these subsidy problems that we have. "Now, with this, we don't even have to import what we need to operate our vehicles. It is called CNG and we have the gas here in Nigeria.

did in the last four years and to continue to see to the progress of how far our projects have gone with a view to seek more collaboration with the state government on what to do in this historic state. "Our job is to see the projects that have been done and the ones that we are about to embark upon. “We are here to move around the old projects with the hope that the contractors are on site and have done the right thing as well as to ensure that the ones we are about to start; we do the right thing." The Chairman of the Commission thanked the Emir for granting the

board audience and prayed for the blessings of the emirate in the execution of all the activities of the board in the state. Responding to the visit, the Emir of Bauchi, commended the Commission over all the interventions it carried out since its inception, saying that it was a stimulant to the development of the region. "I must place it on record that the activities of the Commission towards the general well-being of the populace since its establishment cannot be over-emphasised being a stimulant to the development of the region.

The anti-graft agency had predicated its request on grounds that a prima facie case has been established against AllisonMadueke, prompting a magistrate to issue the warrant of arrest. This certified warrant was then attached to the extradition request submitted to the UK government by the AGF on the orders of President Tinubu. The extradition request is based on Nigeria’s Extradition Act, CAP E25, Laws of the Federation of Nigeria, 2004, and the London Scheme of Extradition within the Commonwealth, commonly known as “The Scheme.” This multilateral treaty governs extradition between the United Kingdom and Nigeria. Meanwhile, an ongoing internal review by the UK government has been blamed for the delay in bringing the former minister back to Nigeria. Extradition processes are typically intricate and subject to the approval of the recipient country, in this case, the UK. An informal interagency collaboration between the EFCC and the UK’s National Crime Agency (NCA) has played a pivotal role in the ongoing trial of Alison-Madueke at the Westminster Magistrates’ Court in London. Recalling previous developments, the EFCC had disclosed on October 2 that it had commenced the extradition

of Alison-Madueke from the UK to Nigeria. She faces 13-count charges related to money laundering, which were brought against her by the anti-graft agency. These charges span across jurisdictions in Dubai, the United Arab Emirates, the United Kingdom, the United States of America, and Nigeria. Few weeks ago, precisely in August, the UK’s National Crime Agency had accused Diezani of accepted bribes in return for awarding multi-million-pound oil and gas contracts, leading to her being charged in court. She was arraigned before the Westminster Magistrates’ Court in London early October over allegations on bribery to the tune of £100,000, and was admitted to bail in the sum of £70,000, by the District Judge Michael Snow. As part of conditions attached to the bail, the former minister was ordered to observe an 11 pm to 6 am curfew, while wearing an electronic tag at all times. Meanwhile, Diezani is expected to be at Southwark Crown Court, today which handles serious criminal cases as part of continuation of her trial in the UK. Recall, that several efforts by the EFCC to get Diezani extradited to Nigeria in the past were unsuccessful.

T H I S D AY • MONDAY, OCTOBER 30, 2023

NEWS

FAMILY REUNION OF OLD STUDENTS OF ST JUDE’S PRIMARY SCHOOL... L-R: Ven Olusegun Ajayi (Dean, Cathedral of St Jude) and his wife, Mrs. Ajayi; H.E. Akinwunmi Ambode, former governor of Lagos State, Bishop Akinpelu Johnson (Bishop of Lagos Mainland Cathedral), his wife and Hon. Justice Bukunola Adebiyi, at the family Reunion of old students of St Jude’s Primary School and also members of the St Jude Anglican Church, Ebute Metta, Lagos at the weekend

Tinubu, CBN, DMO, Others Sued over Bid to Securitise N23tn Ways and Means Loan Alex Enumah in Abuja President Bola Tinubu, the Central Bank of Nigeria (CBN), the Debt Management Office (DMO) and four others have been dragged before a Federal High Court in Abuja, over bid to securitise the sum of N22.7 trillion Ways and Means loan support the federal government got from the apex bank. Besides, Justice James Omotosho of the Federal High Court on Friday, adjourned to December 4, for hearing in a motion seeking for an interlocutory injunction restraining the DMO from carrying on or taking any further steps on securitising the said loan. Justice Omotosho adjourned hearing in the motion on notice and other related motions, following request by the plaintiffs’ lawyer, Mr. Victor Opatola, to put his house in order. Others in the suit marked: FHC/ ABJ/CS/1286/2023, are the federal

government of Nigeria, the Ministry of Finance, National Assembly and the Attorney General of the Federation and Minister of Justice. The plaintiffs, Justin Edim and Akinfewa Akinwunmi, who initiated the legal action on behalf of themselves and other Nigerian citizens, specifically asked the court to stop the conversion of the debt to a promissory note or any other promise to pay at a future date or securitisation by ways of issuance of treasury bills, bonds or other forms of security. In December 2022, the federal government had requested the 9th National Assembly for permission to securitise the debts they had incurred from the CBN over the years. Plaintiffs claimed that the series of loans secured from the CBN had amounted to N23.7 trillion, and that the federal government was planning to restructure the loans to something that could be traded. Plaintiffs further stated that the

MTN, Ford Foundation Restate Commitment to Youth Empowerment Gideon Arinze in Enugu MTN and the Ford Foundation have restated their commitment to empowering young people in the field of arts in order to ensure that they maximise their talents and contribute to the growth and development of Nigeria. The Foundations made the commitment at the 2023 grand finale and award night of the Life in my City Arts Festival (LIMCAF) which was held in Enugu State with the theme: Fix It. This year's award saw the introduction of new categories, including the children's workshop prize and specialised awards for the most creative female and selected persons with disabilities. In his address, the Director of the foundation, Dennis Okoro, said the greatest treasures of countries were buried when those who should have contributed in one way or the other towards development were not given the support they deserve. He, however, noted that LIMCAF had become a beacon of light and encouragement for young growing artists in Nigeria over the years, adding that the MTN Foundation remained committed to supporting these young people in the field of arts because it has seen the merits in what they are doing with their talents. “We will continue to support them so long as the resources are

available, “he said. “MTN’s dedication to the growth and development of young people is part of our corporate social responsibility which keeps the company going in Nigeria,” he added. While noting that the Foundation works in the areas of health, education, economic empowerment and visual arts, he expressed happiness with the yearly increase in the number of entries, which according to him, shows the pull of talents available in Nigeria. On his part, the Senior Program officer at Ford Foundation, Dabesaki Mac-Ikemejima, said the theme for this year was a call to action for young people to think about and express their aspirations for the feature. He said the Foundation believes in the power and potential for young people to thrive and explains its support for the work that LIMCAF does, while also calling on wellmeaning Nigerians with the resources to pull them together for the growth of young people in the country. Earlier, the Chairman of the seven-man Jury which made the selection of winners, Ayo Aina, said the excellence of the entries made their task an arduous one, adding that they were judged on the basis of thematic expression, creative use of materials and quality of finish and presentation and how the works fit into the theme for the year.

federal government had over the years secured various loans from the CBN under the Ways and Means provision of Section 38 of the CBN Act in contravention of relevant laws which stipulated that the total amount the federal government could borrow shall not at any time exceed five per cent of the previous year’s revenue of the federal government. They averred that recently, the Ways and Means debt of N22.7

trillion was decided to be converted into bond (promissory note) contrary to Section 38(3)(b) of the CBN Act. Plaintiffs accordingly want the court to declare that the effect of securitising the Ways and Means debt would adversely affect the plaintiffs and millions of Nigerians, as well as rob them of the true worth of their savings and further drive Nigerians below poverty line. "That by securing the Ways and Means Debt, the government will

be putting too much money in the money market which naturally increases liquidity in the Nigerian economy which pen-ultimately skyrocket inflation in Nigeria. "That unless the respondents are compelled by an injunction of this honourable Court, it will continue to take steps in variance with the law and continue in its efforts to securitise the Ways and Means loan; which if completed and bought by Nigerians and investors

might become irreversible," Opatola stated. However, following a hint from the court, Opatola, requested for a short adjournment to enable him make necessary adjustment in his court documents. The request was not opposed by other parties in court and Justice Omotosho subsequently adjourned till December 4, for hearing in the motion on notice as well as the main suit.

NAFDAC Seeks Tougher Sanctions against Peddlers of Substandard Medicines Onyebuchi Ezigbo in Abuja

The National Agency for Food and Drug Administration and Control, (NAFDAC), has said enforcement of more stringent penalties would drastically reduce sales and distribution of substandard and falsified (SF) medicines in the country. The agency put the value of global commerce in sub-standards and counterfeit drugs in 2016 at $4.4 billion, accounting for 0.84 per cent of all pharmaceutical product imports globally but excluded a sizeable amount of locally produced and consumed SF medicines. In Nigeria, the highest penalty, on conviction, in dealing with SF medicine was that the suspect would be liable on conviction to a fine not exceeding N500,000 or imprisonment for a term of not less than five years or more than 15 years or to both such fine and imprisonment. NAFDAC said the menace of substandard and falsified medicines were presently constituting a global threat that presented huge public health challenges to national medicines regulatory authorities in both developed and developing

countries. It also said the illicit practice had brought catastrophic consequences on the local pharmaceutical industry, NAFDAC Director General, Prof. Mojisola Adeyeye, noted that the ridiculously light penalties against offenders have made the illicit trade attractive In a statement signed by NAFDAC's Resident Media Consultant, Sayo Akintola, the NAFDAC DG warned that the menace of substandard and falsified medicines portends grave financial losses, possible divestment, and close of shop for the pharmaceutical industry and threatens the attainment of the United Nations Sustainable Development Goals of access to safe, effective, quality, and affordable essential medicines. The NAFDAC DG expressed the concerns while speaking at the 21st NECCI Public Relations Roundtable in Lagos last Thursday. In her keynote speech, Adeyeye said with the exponential growth in e-commerce, and global trade facilitation, illicit trade in fake goods had continued to be a significant and growing threat to economies

globally, adding that the socioeconomic impact of this menace for any nation was enormous. “In addition to harming the economy generally, it also has the potential to weaken the rule of law and erode public confidence in the government,” she said, noting with dismay that when it comes to medicines, the proliferation of SF medicines has even greater and significant dangerous public health ramifications. Adeyeye, put the value of global commerce in sub-standards and counterfeit drugs in 2016 at $4.4 billion, accounting for 0.84 per cent of all pharmaceutical product imports globally but excludes a sizeable amount of locally produced and consumed SF medicines. “In the meta-analysis of 96 studies that examined 50 or more samples, totalling 67, 839 drug samples, it was estimated that the incidence of SF medicines in low- and middle-income countries stood at 13.6 per cent. “The largest incidence was observed in Africa with 18.7 per cent and 13.7 per cent in Asia,” it added. According to the WHO Global

Surveillance and Monitoring System, the continent of Africa accounted for 42 per cent of the 1,500 incidents of SF and counterfeit medical products recorded between 2013 and 2017. Adeyeye warned that medications of all types and classifications were subject to falsification and counterfeiting, adding that generics, branded, OTCs, and Prescription Only Medicines (POMs) are impacted. The NAFDAC boss disclosed that the agency had deployed cutting-edge technologies like the TRUSCAN (handheld device built on Raman spectroscopy) for on-thespot detection of SF medicines in circulation and at the ports of entry into the country. She further explained that the Agency had put in place the Clean Report of Inspection and Analysis (CRIA), a Pre-shipment inspection arrangement set up as part of measures by NAFDAC to curb the increasing rate of importation of fake, substandard, and unwholesome finished pharmaceuticals and other regulated products, raw materials, and chemicals from India and China.

ASUU Donates Relief Materials to 320 Katsina IDPs, Seeks Their Return to Ancestral Homes Francis Sardauna in Katsina The Academic Staff Union of Universities (ASUU) yesterday called on the federal government to ensure the return of the Internally Displaced Persons (IDPs) all over the country to their ancestral homes. The National President of the union, Prof. Emmanuel Osodeke made the appeal while donating relief materials to 320 IDPs in

Katsina. The assorted food items donated to the displaced persons residing at Gidan Dawa and Babbar Ruga communities in Katsina metropolis, were rice, beans, spaghetti, vegetable oil, maggi and salt. Represented by the ASUU National Resource Person, Dr. Lawali Alkali-Argungu, Osodeke said the federal government should secure communities in the state and across the country to enable

the displaced persons to return to their ancestral homes. Describing the spate of displaced persons in Nigeria as the principal manifestation of the country's leadership failure, the ASUU president admonished President Bola Tinubu to ensure the return of the IDPs to their homes. He said: "ASUU sees IDPs as a principal manifestation of the serious problem of leadership in this country. We envisaged that

during the last administration, the IDPs would go back to their homes because the president of the country was a retired military General. "If IDPs cannot go when a retired senior military officer is in charge, then where is our hope? But we are still appealing to the present government under the watch of Tinubu to return these IDPs to their original homes so that they can farm."

MONDAY OCTOBER 30, 2023 • T H I S D AY

T H I S D AY ˾ MONDAY OCTOBER 30, 2023

Acting Group Politics Editor DEJI ELUMOYE

POLITICS

Email: deji.elumoye@thisdaylive.com 08033025611 SMS ONLY

M O N D AY D I S C O U R S E Time is Nigh for Tinubu to Step Up Governance With last Thursday’s verdict of the Supreme Court aﬃrming the election of Bola Tinubu as President of the Federal Republic of Nigeria, the coast is now clear for the president to provide quality leadership, confront the numerous challenges facing the nation and deliver on campaign promises, writes Alex Enumah.

Tinubu

ifty days after the Presidential Election Petition Court, declared that the Independent National Electoral Commission (INEC), was right in returning candidate of the All Progressives Congress (APC), Asiwaju Bola Tinubu as winner of the February 25, 2023 presidential poll, the apex court on Thursday, October 26, arrived at the same verdict. In their judgments in two separate appeals, a seven-man panel of justices of the apex court held that the appellants failed to provide evidence that they and not Tinubu won the last presidential poll. Having dismissed the two appeals filed by candidates of the People’s Democratic Party (PDP), Alhaji Atiku Abubakar and Labour Party (LP), Mr Peter Obi, the apex court subsequently affirmed the September 6 judgment of the presidential tribunal affirming the declaration of Tinubu as President of Nigeria. The verdict of the Supreme court delivered on October 26, 2023 has not only brought to an end all litigations concerning the presidential election, but, has secured the presidential job of Tinubu for the next four years. And that job is to provide quality leadership, good governance, improved living conditions which nosedived with the removal of fuel subsidy and the floating of the naira against foreign currencies, at the very inception of Tinubu’s administration. However, the major challenge confronting Nigeria’s peace, progress and development besides insecurity and banditry, is corruption. Like the immediate past President, Muhammadu Buhari would say, “if we don’t kill corruption, corruption will kill us”. Corruption like cancer has eaten deep into the heart and soul of Nigeria. There is no aspect of Nigeria’s life that does not smell of corruption. While Atiku and Obi had alleged corrupt practices in the election that produced Tinubu as president on one hand and sought for the nullification of the poll, on the other hand, they had opposed Tinubu’s presidency on alleged huge baggages of corruption. Unfortunately, both the presidential tribunal and the Supreme Court failed to relief Tinubu of the corruption baggages especially of certificate forgery and perjury, when they dismissed the issue on grounds that the petitioners/ appellants did not plead them in their petitions. Even the courts which affirmed Tinubu’s election have not been insulated from corruption allegations, not with the second most senior Justice of the Supreme Court, Musa Dattijo Muhammad, only few hours after his colleagues affirmed Tinubu’s election, lamented the rot in the judiciary. He even accused the Chief Justice of Nigeria of deliberately excluding some geopolitical zones from the bench of the apex court by not making

Ariwoola appointments to fill vacant positions. So, the starting point and indeed the point of impact would be tackling corruption headlong. Tinubu’s campaign slogan was “Renewed Hope”. If Nigerians must begin to have hope in the country and her leaders again, Tinubu must begin to act deliberately towards ridding his administration of all forms of corruption. Many have called on the president to come out clean in many of the allegations against him. Recall that while responding to the allegation of his forfeiture of the sum of $460,000 to the US government, Tinubu had argued that the event which was not a criminal forfeiture, happened more than ten years ago and as such cannot be a ground for his disqualification. Also, while he had gone to a US court to stop the release of his academic records at the Chicago State University (CSU) to Atiku, he has also asked another US court to stop the Federal Bureau of Investigation (FBI) from releasing information relating to his stay in the US to the public. Recall that Atiku had brought Tinubu’s academic record from CSU to prove that the president forged the certificate he presented to INEC in aid of his qualification for the 2023 poll, but the apex had declined to accept them on the grounds that the fresh evidence was brought after his petition had lapsed adding that the failure of the petitioners to plead the issue was fatal to their case. Chairman of the Independent National Electoral Commission (INEC), Prof Mahmood Yakubu had on March 1, declared Tinubu as the winner of the keenly contested February 25, 2023 presidential poll. Tinubu’s declaration as president-elect came at the end of

a four-day period of collation of results of the presidential poll from across the country. According to Yakubu, Tinubu and his party, the All Progressives Congress (APC) had scored 8,794,726 lawful majority votes, while the People’s Democratic Party (PDP) and its presidential candidate, Alhaji Atiku Abubakar polled 6,984,520 to come second while the Labour Party (LP) and its presidential candidate, Mr Peter Obi, came distant third with a total vote of 6,101,533. Dissatisfied, Atiku and Obi, had approached the presidential election tribunal to challenge the alleged “hasty” declaration of Tinubu as winner, despite an avalanche of complaints surrounding the election, which Yakubu had earlier assured that INEC would look into. They submitted that INEC’s failure to comply with its own rules and regulations has invalidated the commission’s return of Tinubu as president-elect. According to them, Tinubu’s victory was as a result of alleged malpractices and other irregularities, upon which they are now seeking the nullification of his victory. Besides, the petitioners maintained that for any of the candidates in the February 25 poll to be declared winner, he or she must score 25% of votes cast in the Federal Capital Territory (FCT), Abuja, adding that the failure of Tinubu to meet the said constitutional requirement invalidated his election. Atiku’s petition was based on four major grounds amongst which are that: The election of the 2nd Respondent is invalid by reason of non-compliance with the provisions of the Electoral Act, 2022. The election of the 2nd Respondent is invalid by reason of corrupt practices. The 2nd Respondent was not duly elected by the majority of lawful votes cast at the Election. The 2nd Respondent was at the time of the Election not qualified to contest the Election. They claimed that,” the non-compliance

The verdict of the Supreme court delivered on October 26, 2023 has not only brought to an end all litigations concerning the presidential election, but, has secured the presidential job of Tinubu for the next four years. And that job is to provide quality leadership, good governance, improved living conditions which nosedived with the removal of fuel subsidy and the ﬂoating of the naira against foreign currencies, at the very inception of Tinubu’s administration. However, the major challenge confronting Nigeria’s peace, progress and development besides insecurity and banditry, is corruption.

substantially affected the result of the Election, in that the 2nd Respondent ought not to have been declared or returned as the winner of the Election”. However, after nearly six months of fierce legal battles, the tribunal said the witnesses called by the petitioners as well as evidence tendered was not sufficient to prove their allegations and subsequently dismissed the petitions. The dismissal prompted the appeal to the Supreme Court, which was again dismissed for the second time for lacking in merit. The panel in a unanimous decision held that the two appeals were lacking in merit as they did not provide any credible or convincing evidence to set aside the judgment of the Presidential Election Petition Court, which last month held that Tinubu was legally qualified to contest the February 25 presidential election and that the electoral umpire was right when it declared Tinubu president. While stating that all issues raised for determination are resolved against the appellants, the apex court held that, “On the whole, there is no merit in this appeal and it is hereby dismissed. “The judgment of the lower court delivered on 6 September declaring Tinubu president is hereby affirmed”. Delivering judgment in the 1st appeal filed by Atiku and the PDP, Justice John Inyang Okoro, who read the lead judgment observed that the issues for determination by the court borders around alleged electoral fraud, President Tinubu’s non-qualification, and non-compliance of the conduct of the disputed election with the provisions of the Electoral Act. On the issue of non-compliance, the apex court which agreed with the tribunal that the appellants did not present relevant evidence to prove this allegation pointed out that the appellants abandoned the duty placed on them to prove non-compliance and rely solely on INEC’s failure to transmit results real time. According to Okoro “the unavailability of results on the Independent National Electoral Commission (INEC) Result Viewing (IReV) cannot be a ground to nullify” the February 25 presidential election which produced Asiwaju Bola Tinubu as President. In addition the apex court held that failure to transmit results to IReV does not affect the results of the election, because the IREV portal is not a collation system. “IREV is not a collation center. Whenever iREV fails, it doesn’t stop collation of results because collation never stopped”, the apex court held, adding that the results on the IReV are meant to be compared with the hardcopy results in an event of a dispute. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

MONDAY OCTOBER 30, 2023 • T H I S D AY

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FEATURES

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

Navigating Africa's Turbulent, Resurgent Coups and the Shadowy World of PMCs The third edition of Geopolitics Series, themed: "Resurgent Coups, Private Military Companies (PMCs), and the Eroding Influence of Inter-Governmental Organisations, IGOs," illuminated critical global issues as they affect Africa. Senator Iroegbu and Gift Wada in this article, highlighted the discussions and insights from GS3.0, which underscored the complex dynamics shaping modern conflicts, emphasising the importance of addressing root causes, promoting local solutions, and reevaluating the role of powerful states in geopolitical affairs

DG, Institute for Peace and Conﬂict Resolution (IPCR), Abuja, Nigeria, Dr. Joseph Ochogwu

n recent years, Africa has experienced a disconcerting resurgence of coups, with notable incidents in Egypt (2013), Burkina Faso (2015 and 2022), Zimbabwe (2017), Sudan (2019 and 2021), Mali (2020), Chad (2021), Guinea (2021), Niger (2023), and Gabon (2023). These events underscore the pressing demand for transformative leadership. This troubling pattern has emerged in the context of governance challenges, corruption, economic difficulties, and security concerns that have precipitated military interventions in several African nations. During the Geopolitics Series 3.0, experts delved into the complexities of civic support for coups, recognising the need for a nuanced examination of public sentiment and the intricate social and political dynamics at play. The theme of the series, "Resurgent Coups, Private Military Companies, and the Eroding Influence of InterGovernmental Organisations," shed light on the latest coup trends in Africa and the apparent legitimacy that some of these military takeovers seem to garner The Station Manager of West Africa Democracy Radio (WADR), Mrs. Agnes John-Thomasi, highlighted that coups often undermine democratic principles, resulting in human rights abuses, disregard for the rule of law, economic stagnation, and instability. Surprisingly, there seems to be civic support for coups in recent times, which she attributes to a complex mix of social, political, economic, and historical factors. John-Thomasi pointed out that the widespread corruption, electoral fraud, and leaders' disregard for term limits contribute to dissatisfaction with civilian governments. Additionally, security challenges caused by groups like Boko Haram, Islamic State and AlQaeda in the Sahel region have eroded public trust, leading people to turn to the military for solutions. The failure of civilian governments to address these challenges has fueled the narrative that military intervention is a viable alternative. One central issue is the lack of accountability in many African governments–a pointer that weak institutions and a lack of consequences for those in power have left citizens frustrated. The absence of press freedom and attacks on media institutions also contribute to support for coups. This has been particularly evident in West Africa, which has a history of coups as a means to end conflicts or address governance issues. Also highlighted is the fact that the PMCs have played a controversial role in this dynamic. PMCs have filled security gaps, providing services ranging from training to military operations. However, their unregulated nature and associations with human rights abuses have raised concerns. It was on this premise that an Indian Army veteran, Maj-Gen. AK Bardalai (rtd), explained that PMCs operate in a gray area, as they often act on behalf of state actors. According to him, they have been both a force for stability and

Station Manager of West Africa Democracy Radio (WADR), Dakar, Senegal, Mrs. Agnes John-Thomasi instability, depending on their employment. Bardalai noted that the lack of international legislation to regulate PMCs and reluctance from states to employ them further complicates matters. Similarly, the Director-General of the Institute for Peace and Conflict Resolution (IPCR), Dr. Joseph Ochogwu, asserted that some PMCs are involved in manufacturing military hardware, while others engage in direct combat. The absence of convictions under international humanitarian law has allowed PMCs to operate with impunity. On his part, the Special adviser to the Executive Director of the Open Society Foundation-Africa in charge of the Africa Union Advocacy, Mr. Ibrahim Kane, shed light on the complexities of the Sahel region's conflicts, suggesting that they are rooted in historical inequalities, climate change, and control over natural resources. Kane criticised the media for misrepresenting these crises. He highlighted that foreign countries involved in counter-terrorism often pursue their interests, leading to a disconnect between their objectives and regional stability. Accordingly, the President of the White Ink Institute for Strategy Education and Research (WISER), Brig-Gen. Saleh Bala (rtd), shared the perspective that democracy is faltering due to the absence of accountability and transparency in civilian administrations. Bala highlighted that military interventions are occasionally viewed as a counterweight to the actions of African leaders. However, he cautioned that without a shift in their behaviour, these interventions might intensify the existing unrest. At the same time, the Founder of Scutarii Advisory, Mr. Hilly Cookey-Gam's conclusion underlined the prevalence of foreign interference and covert operations in today's geopolitical scenario. Cookey-Gam pointed out that at times, influential nations are either indirectly or directly linked to coup attempts. He highlighted that these situations occur

Founder of Scutarii Advisory, UK/Nigeria, Mr. Hilly Cookey-Gam because of the fragmented response from the international community, as evident in recent coup endeavors. In the end, however, the guest speakers who are renowned professionals and experts in their fields, all agreed that in the face of these challenges, it is essential to pursue locally crafted solutions. They stressed that while foreign interventions persist, regional organisations like ECOWAS must assert their influence and prioritize the interests of the African continent over those of external actors. It is to this end, that the Geopolitics Series continues to serve as a vital platform for exploring global issues and their impact on Africa, fostering a deeper understanding of the continent's evolving role in international affairs. According to the Convener, Senator Iroegbu, this underscores the urgency of addressing the root causes of conflicts to achieve lasting peace in Africa. Rising Coups Call for Revolutionary Leadership in Africa The resurgence of coup d'état incidents across Africa has drawn attention to the pressing need for revolutionary leadership in the continent. Recent events, including the coup in Gabon, just a month after a military takeover in the Niger Republic, and the two coups in Burkina Faso in 2022 as well as Mali, along with failed attempts in Guinea Bissau, The Gambia, and Sao Tome and Principe, underline the gravity of the situation. Agnes John-Thomasi, the Station Manager of West Africa Democracy Radio, offered insights into this concerning trend. She reiterated that Africa's persistent challenges, ranging from bad governance to corruption, economic hardships, and security threats, have created an environment conducive to military takeovers. "The greed of leaders at the expense of the nation, politics marred by ethnicity and religion, the incessant disregard for the rule of law, economic hardship such as inflation, high unemployment rates, and poverty that is deeply affecting the majority of the populace are contributory factors leading to dissatisfaction with civilian governments," she explained. John-Thomasi opined that military takeovers are gradually gaining legitimacy in Africa owing to defaults in the system of government. She

Coups often undermine democratic principles, resulting in human rights abuses, disregard for the rule of law, economic stagnation, and instability. Surprisingly, there seems to be civic support for coups in recent times, which she attributes to a complex mix of social, political, economic, and historical factors

President of the White Ink Institute for Strategy Education and Research (WISER), Nigeria, Brig-Gen. Saleh Bala (rtd) deplored the fact that most African countries report high levels of corruption and mismanagement of state resources and this, she noted, has eroded public trust in the supposed “government of the people by the people and for the people.” She acknowledged that while coups may sometimes seem to gain civic support, they often undermine democracy and the rule of law. The perplexing support for coups in recent times begs the question of its underlying factors, which she suggests could be influenced by a variety of complex elements. She said: "Consequently, it is evident that like in other regions public support could be influenced by a complex mix of social, political, economic, and historical factors." “It is pertinent to state here that coups often undermine democratic principles and, in most cases, can lead to human rights abuses, total disregard for the rule of law, economic stagnation (because of sanctions that might follow), and instability in our countries. This notwithstanding, it is evident that there is civic support for coups most especially in recent times. Why is this so? This could be influenced by a variety of factors,” John-Thomasi argued. According to her, the resurgence of coup incidents serves as a stark reminder of the critical need for transformative and revolutionary leadership in Africa. She insisted that addressing the root causes of discontent, promoting good governance, and fostering economic stability are vital steps towards steering the continent away from the troubling cycle of coups and instability. The Dakar, Senegal-based WADR Manager, noted that in addition to these factors, the suppression of press freedom and attacks on media institutions and journalists, who have the power to shape public opinion, have contributed to public discontent. The media professional also stressed the significance of accountability as a central issue driving these reactions to coups. Many feel that civilian leaders are shielded from the consequences of their actions, further fueling support for military intervention as a means of holding them accountable. She concluded by pointing out the urgent need to proactively address governance issues in Africa, stating; “Coups can lead to disruptions to democratic processes, and long-term instability rather than bringing about the desired change. This is why there is an urgent need to look at the governance system in West Africa. This is why ECOWAS; AU and the international community should be active in checking the effectiveness of the governance structures and systems rather than rising after the damage is done. The media executive stressed: "Fighting against coups should be a last resort, working on ensuring that the governments are accountable, elections are free and fair from campaigning to the ballot Continued on page 21

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FEATURES

Navigating Africa's Turbulent, Resurgent Coups and the Shadowy World of PMCs

AU Programme Policy Head at OSF Africa Senegal, Ibrahima Kane box and counting, term limits are respected and the socio-economic situation of the countries are growing and blooming is what these institutions should be working on amongst many others.” Speaking, the President of the White Ink Institute for Strategy Education and Research (WISER), Brig-Gen. Saleh Bala (rtd), echoed the sentiment that democracy is faltering due to the lack of accountability and transparency in civilian governments. According to Bala "the only true guardians of democracy are the civilians, for the very essence of democratic philosophy grants them an exclusive mandate. "It is a paradox, yet a stark reminder that the worst form of civil democracy surpasses the best civilian rule, challenging our moral perceptions. The military veteran urged the stakeholders to explore "deeper into the realm of morality and question the hierarchy of human life within the context of democracy, a concept deeply rooted in history since its ancient origins." He stressed that military interventions are, in some cases, viewed as checks against the actions of African leaders. However, he cautioned that as long as leaders in the region continue to act in certain ways, these interventions may lead to further chaos. The former Chief of Infantry Corps, Nigeria Army noted: "...the responsibility for resolving a nation's internal issues lies squarely within that nation's borders, in compliance with international laws, protocols, and principles upheld by the international community. International organisations play a vital role in overseeing good governance, the rule of law, and human rights practices among their member states. "We have heard of the AU Principle, which envisions the Council of the Wise and peer reviews, but we have yet to witness the presidents of nations taking action against abusive governance, extending presidential terms, and violating democratic principles within the continent. True civilian-led sovereign states must uphold constitutionality, and sanctions should be imposed when this isn't achieved." PMCs: Navigating the Role of Stability and Instability The security landscape in West Africa has also played a pivotal role in driving support for military interventions. The region grapples with severe security challenges, including the presence of militant groups such as Boko Haram/ ISIS in Nigeria, Al-Qaeda in the Sahel, Jama al Nasr al Islam Wal Muslimin (JNIM) in Mali, and branches of the Islamic State (IS) operating in Mali, Burkina Faso, and Niger. Additionally, armed rebel movements in northern Mali, like the Coordination of Azawad Movement (CMA), have further destabilised the region. The inability of civil governments to effectively combat terrorism has prompted many to turn to the military for solutions. Historically, West Africa has witnessed a cycle of coups and counter-coups, often employed as tools to resolve conflicts or address governance issues. The struggle for leadership and attempts to cling to power beyond prescribed term limits have led to disillusionment among the populace, driving some to either rise or support military takeovers as an alternative. Speaking on the topic: “PMCs and Contemporary Conflicts: Actors of Stability or Instability,” Maj-Gen. AK Bardalai (rtd), Distinguished Fellow at the United Service Institution of India (USI), explained the multifaceted roles played by PMCs in today's conflicts. Bardalai amplified the fact that PMCs have historically addressed security gaps in various countries, dating back to the

Indian Army Veteran and Distinguished Fellow at the United Service Institution of India (USI), Maj-Gen. AK Bardalai (rtd)

Convener, Geopolitics Series and Editor-InChief Global Sentinel, Nigeria, Senator Iroegbu

15th century. He noted that PMCs serve a range of functions, from providing training and advisory services to offering logistical support, intelligence acquisition, static guarding, personal protection, and even participating in military operations independently or alongside host country security forces. However, Bardalai underscored a significant challenge: the absence of internationally accepted legislation to regulate PMCs due to the reluctance of both employing and providing states to establish such regulations. Consequently, the impact of PMCs on stability or instability hinges on their deployment. Bardalai who was a former Infantry Commander and UN Military Observer in Angola, cited historical examples, such as Executive Outcomes' (EO) involvement in Angola during the civil war and the utilisation of South African mercenaries by the Nigerian government to combat Boko Haram in 2014. African nations, he noted, including Nigeria, have continued to enlist PMCs for training and security purposes. Notable instances include collaborations with Starter Point Integrated Services (SPIS) and Israeli firm HLSI Security System and Technology Limited. Despite their contributions, Bardalai stated that the PMCs face persistent allegations of human rights violations and violations of International Humanitarian Law (IHL). These allegations often go unaddressed due to a lack of compelling evidence and a dearth of binding regulations compelling PMCs to adhere to established norms while operating in foreign territories. The military veteran highlighted instances of PMCs' involvement in human rights violations in the Central African Republic (CAR), Angola, Sierra Leone, and Mali, bringing renewed global attention to the risks posed by unregulated PMCs. One of the most notorious examples of PMCs misconduct is the Nassour Square massacre in Baghdad, perpetrated by Blackwater employees. This incident resulted in the death of 17 Iraqi civilians and injury to 20 others. Four Blackwater employees were convicted in the United States, only to be pardoned by President Donald Trump on December 22, 2020. Bardalai concluded by arguing that while PMCs may contribute to stability in some cases, the odds are stacked against them being agents of stability. To change this equation, he called for the commitment of member states and the UN to achieving sustainable peace in conflict zones. Additionally, he said, host states must focus on security sector reform to reduce their reliance on PMCs. The international community

should address these challenges proactively to preserve international peace and security. "Despite any positive contributions on the part of the PMC to maintain stability, the odds are so heavy that the PMC is an actor more for instability and less for stability. This equation can change if member states, and the UN are serious in their commitment to find sustainable peace in the conflict zone. "On the other hand, the host states with capacity gaps are committed to security sector reform, and a situation wherein the host states are forced to employ PMC would not arise. Since security sector reform is a sensitive subject and is seen as intrusive, it seems that the international community would continue to grapple with the challenges that face its core objective for some time," said Bardalai who was the Deputy Head of the Mission and Deputy Force Commander in UNIFIL (Lebanon) from 2008 to 2010. In the same vein, the Director-General of the Institute for Peace and Conflict Resolution (IPCR), Nigeria, Dr. Joseph Ochogwu, offered valuable insights into the role of PMCs. He reinforced that PMCs operate with state support and are not independent entities. Ochogwu raised concerns about PMCs being employed not only for national security but also for regime protection and occasionally to undermine traditional state powers. Ochogwu differentiated between private security companies, which provide security services and protection, and private military companies, which engage in direct military combat. He noted that machine-terrorism activities, common in developing societies like Africa due to resource extraction issues, often involve PMCs. He underscored the difficulty of convicting PMCs under international humanitarian law and laws of war due to their status as private entities. Consequently, they have become tools not only for state security but also for regime preservation and the erosion of traditional state powers. Ochogwu also highlighted that the limitations on the use of nuclear weapons have made PMCs an alternative tool for warfare. Ochogwu pointed out that the governance deficit in Africa, with leaders attempting to maintain power contrary to democratic principles, reinforces the role of PMCs on the continent. He emphasised that these profit-driven private military companies generate revenue through mineral concessions granted by state authorities, whether legitimate or illegitimate, which often benefit their host countries. He called for Africa to find a way out of this dilemma by addressing both the resurgence of military coups and the expanding roles of PMCs. "The excessive use of private military companies by bigger powers threatens the international system's stability and security. Instead, we should prioritise strengthening state institutions and their military to safeguard nations, protect their people, and maintain sovereignty. Promoting private military companies undermines the

The excessive use of private military companies by bigger powers threatens the international system's stability and security. Instead, we should prioritise strengthening state institutions and their military to safeguard nations, protect their people, and maintain sovereignty

Co-convener and CEO, Ayanda Media Network, Johannesburg, South Africa, Ms. Ayanda Ngwane relevance of states and leads to an anarchic international system, which would be detrimental to international organisations like the United Nations, the African Union, ECOWAS, and other regional bodies," he said. In conclusion, Ochogwu stressed the need for PMC regulation to prevent a shift towards an anarchic world order and the diminishing relevance of state institutions. He underlined the importance of promoting state institutions and military forces to protect state sovereignty and cautioned against allowing PMCs to take center stage in international affairs. Instead, he advocated viewing PMCs through the lens of state actors, as they often act as hidden hands for more powerful states. He also highlighted that in some cases, more powerful states may indirectly or directly support coups, taking advantage of global geopolitical divisions and understanding that major powers may be unable to coordinate through IGOs to counter such actions effectively. Complex Nexus of PMCs, State Actors, and Global Conﬂicts The Founder of Scutarii Advisory, Mr. Hilly Cookey-Gam, delivered a thought-provoking discourse on the intricate interplay between PMCs, state actors, and intergovernmental organisations (IGOs) in shaping contemporary global conflicts. “PMCs cannot operate successfully without the support of a state actor. Rather than view the current spate of coups through the lens of mercenaries or private military companies, it is powerful state actors who utilised non-state actors to achieve strategic goals. IGOs are therefore ineffective in the age of great power conflict, and we should expect more of such events as the struggle over the international political and economic system intensifies in the months and years to come,” Cookey-Gam noted while making the under listed points. Ambiguity of PMCs and mercenaries: CookeyGam commenced by addressing the ambiguity surrounding the classification of PMCs and mercenaries. He highlighted the challenge posed by the lack of operational success in curbing mercenary activities, primarily due to the absence of ratifications from Permanent UN Security Council Members, except for Italy. The central issue revolves around differentiating PMCs from mercenaries, a task made exceedingly difficult when scrutinising key aspects of the UN mercenary convention. He emphasised the complexity of establishing criminal liability, which necessitates proving that mercenaries are driven by financial gains substantially higher than those of regular soldiers and are not citizens, residents, or official representatives of the affected state. State Actors and PMC Operations: Cookey-Gam delved into the symbiotic relationship between PMCs and state actors. He underscored that state actors wield significant influence over PMCs, as most of these private entities act on behalf of or in the interests of state actors. He further underlined that "most private military companies act on behalf of or in the interest of state actors." He cautioned that "PMCs that conduct operations independently of a powerful state actor are unlikely to do so successfully and risk being classified as a terrorist organisation by some or most states." This highlights the pivotal role state actors play in determining the actions and success of PMCs. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

MONDAY, OCTOBER 30, 2023 • T H I S D AY

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CYBERSECURITY ON THE RISE:

Unveiling the Economic Toll on Nigeria Looking into the escalating realm of cybersecurity in Nigeria, dissecting the economic toll it exacts, and exploring the multifaceted factors that fuel this crisis. From the surge in cyber threats to the vulnerabilities that plague businesses and individuals, Nosa Alekhuogie writes about the comprehensive journey to understand the challenges, the initiatives undertaken, and the strategies needed to secure Nigeria’s digital future.

n an age where the digital realm seamlessly interweaves with our daily lives, the security of our online presence has become paramount. Nigeria, a burgeoning hub of technology and innovation, is no exception to the cyber threats that traverse the digital landscape. As technology advances, so do the sophisticated tactics of cyber criminals seeking to exploit vulnerabilities for financial gains and other malicious intents, leaving the nation grappling with a crisis that significantly impacts its economy.

THE RISING TIDE OF CYBER THREATS Cybersecurity threats in Nigeria have grown in scope and complexity, reflecting a global trend. Malevolent actors employ sophisticated methods, leveraging weaknesses in software, networks, and human behaviour. Phishing, ransomware, identity theft, and financial fraud have become commonplace, targeting individuals, businesses, and government agencies. Small and medium-sized enterprises (SMEs) often find themselves particularly vulnerable, lacking the robust cybersecurity infrastructure employed by larger corporations. The rapid adoption of digital technologies, such as online banking and e-commerce, has created a fertile ground for cybercriminals seeking financial gains. Social engineering techniques manipulate unsuspecting individuals and employees, ultimately leading to financial losses and severe reputational damage.

THE ECONOMIC REPERCUSSIONS OF CYBER ASSAULTS The economic repercussions of cyber threats in Nigeria are far-reaching and severe. The financial losses businesses incur are staggering, diverting resources that could have been invested in growth and development to mitigate the aftermath of these attacks. Financial sector vulnerability: The financial sector, a primary target for cybercriminals, has faced substantial disruptions. Banks and financial institutions suffer significant financial losses from fraudulent transactions and data breaches by cybercriminals. Point of sale (POS) breaches in Nigeria are also on the rise as the payment information of customers using POS systems is compromised. Business disruption and productivity loss: Cyber-attacks often cause significant disruption to business operations, resulting in downtime and decreased productivity. This disrupts supply chains, delays projects, and adversely impacts the overall economic output of businesses. Reputational damage: The reputational harm caused by cyber incidents can be devastating, eroding consumer trust and confidence. Businesses affected by cyber-attacks often struggle to recover and regain the trust of their customer base. Intellectual property theft: Intellectual property theft through cyber intrusions severely affects innovation and economic growth. Nigerian companies investing in research and development are particularly at risk of losing valuable intellectual assets to cyber espionage.

A BREACH IN THE DIGITAL ARMOUR: COMMON VULNERABILITIES One of the primary vulnerabilities lies in inadequate cybersecurity awareness and education. Many users, unaware of the risks, fall prey to phishing attempts and social engineering tactics, unwittingly granting access to sensitive data. Moreover, outdated software and insufficient security measures leave organisations susceptible to breaches. The lack of regular updates and patches in software can provide gateways for hackers to infiltrate systems. The rise in remote

work, spurred by the global pandemic, also introduced additional challenges. The shift to remote operations may not always ensure the same level of cybersecurity as in traditional office setups, leaving networks and devices more exposed.

GUARDIANS OF THE DIGITAL REALM: CYBERSECURITY INITIATIVES Amidst these growing concerns, various entities in Nigeria are stepping up to tackle cybersecurity challenges head-on. Government bodies, private organisations, and civil society are working hand in hand to raise awareness, enhance cybersecurity infrastructure, and develop policies and regulations. The Nigerian government has recognised the urgency of the matter and is developing a comprehensive legal framework to address cybersecurity issues. Regulatory bodies are actively working towards enforcing compliance and fostering collaboration between stakeholders to bolster the nation’s cybersecurity posture. Private-sector initiatives are also crucial in fortifying defences. Many companies are investing in cutting-edge cybersecurity solutions, conducting training programs, and fostering a culture of cybersecurity vigilance amongst their employees.

and valuable data. Some individuals are more susceptible to involvement in cybercrime as they see it as a means of economic advancement. Lack of enforcement: Inadequate enforcement of cybersecurity regulations and a lack of deterrents has emboldened cybercriminals. The absence of swift and certain legal consequences for cybercrimes can encourage illicit activities. Infrastructure challenges: Inconsistent and underdeveloped IT infrastructure in some regions can lead to security vulnerabilities. Outdated software and hardware can be more susceptible to cyberattacks. Limited cybersecurity investments: Some organisations, especially smaller businesses and government agencies, may not allocate sufficient resources to cybersecurity. Lack of Skilled Cybersecurity Workforce: Nigeria, like many countries, faces a shortage of skilled cybersecurity professionals. The shortage can hinder efforts to defend against and respond to cyber threats effectively. Political and Socioeconomic Uncertainty: Political instability and socioeconomic challenges can create an environment conducive to cybercrime. These issues can divert resources from cybersecurity efforts and increase the motivation for financial gain through illicit means.

FACTORS CONTRIBUTING TO CYBER THREATS INCREASE IN NIGERIA TOWARDS A SECURE FUTURE: Digital transformation: As Nigeria THE WAY FORWARD experiences rapid digitisation, more individuals and organisations are going online. The proliferation of digital platforms, online services, and e-commerce activities provides a larger attack surface for cybercriminals to exploit. Limited cybersecurity awareness: Many individuals and businesses in Nigeria lack adequate awareness and education about cybersecurity best practices. This lack of knowledge makes them vulnerable to cyber threats like phishing and social engineering attacks. Economic motivation: With the high unemployment rates and societal pressure on youths in the country, cybercrime has become highly profitable. People have become comfortable with the lure of financial gain through illegal means. Cybercriminals target financial institutions, businesses, and individuals to steal money

The road to a secure digital future in Nigeria demands a collective effort. It necessitates continuous education and awareness campaigns to equip individuals with the knowledge to recognise and thwart cyber threats. It calls for a holistic approach encompassing stringent regulatory frameworks, widespread public awareness, collaboration, and investment in cuttingedge cybersecurity solutions. Additionally, collaboration between public and private sectors, international cooperation, and a proactive approach to adopting advanced cybersecurity solutions are vital steps towards mitigating the risks associated with the digital age. As Nigeria strides in its technological evolution, shoring up its cybersecurity infrastructure is not just a necessity but a responsibility. It is a call to action for all stakeholders to

ensure a secure digital landscape that fosters innovation, growth, and prosperity for all. Preventing cybersecurity attacks in Nigeria requires a comprehensive and multifaceted approach involving various stakeholders, including individuals, businesses, government, and educational institutions. One of the several strategies that can be implemented to enhance cybersecurity across the nation includes continuous public awareness and education by launching nationwide campaigns to educate the public about cybersecurity threats, best practices, and how to identify and report potential threats. Collaboration with schools and universities to integrate cybersecurity education into curriculum and conduct workshops to teach students about online safety. Another strategy is regulatory framework and compliance through the establishment and enforcement of stringent cybersecurity regulations and standards across industries, ensuring compliance by both public and private sector organisations. Implement penalties for non-compliance to incentivize organisations to invest in cybersecurity measures and adhere to prescribed guidelines. Public-private partnerships are necessary to foster collaboration between the government, private sector, and civil society to share threat intelligence, best practices, and resources to combat cyber threats collectively. Establish joint initiatives to promote information sharing and conduct drills to simulate cyber-attack scenarios, helping organisations enhance their incident response capabilities. Through capacity building and skill development, investment in training programs and workshops will develop a skilled cybersecurity workforce, addressing the existing skills gap. Encourage certifications and continuous professional development for cybersecurity professionals to stay updated with the latest threats and technologies. In addition, attention should be paid to cybersecurity research and innovation by encouraging research and development in cybersecurity technologies, fostering innovation and the creation of solutions tailored to Nigeria’s unique cyber threat landscape. Offer grants, incentives, and funding opportunities to startups and researchers on cybersecurityrelated projects. Another strategy is securing government systems and critical infrastructure, including energy, healthcare, and finance sectors, by implementing advanced security measures and regular security audits and fostering international collaboration to ensure cybersecurity efforts align with global best practices and standards. Not to be left out is cross-border collaboration with neighbouring countries and international organisations to share threat intelligence and jointly combat transnational cyber threats that may affect Nigeria. This also includes secure software development and patch management to promote secure coding practices among developers and encourage organisations to prioritise timely software updates and security patches to address known vulnerabilities. Then, promoting multi-factor authentication across all online platforms adds an extra layer of security and protects user accounts from unauthorised access. Addressing the rise of cyber threats in Nigeria requires public awareness, education, investment in cybersecurity infrastructure, regulatory frameworks, and international collaboration. By tackling these issues holistically, Nigeria can better protect its digital landscape and mitigate the economic and security risks associated with cyber threats.

MONDAY, OCTOBER 30, 2023 • T H I S D AY

PERSPECTIVE Kumuyi Abroad: Africa’s New Narrative Banji Ojewale

he West has no business sending missionaries to Nigeria; they can’t help us; they have lost Christianity… substantially…They are the ones who need us. We will give (the erring West) pastoral help…Africa is now the historical custodian of (true) Christianity.--Bishop Professor Dapo Asaju, former Vice Chancellor of Ajayi Crowther University, Oyo State, Nigeria. As July of 2022 closed, Pastor William Folorunso Kumuyi, General Superintendent of Deeper Christian Life Ministry (DCLM) was also closing a chapter that, according to some theologians, made his ministry somehow ‘insular and centripetal’, even if his messages, as we all know, have always been universal. At an event in Lagos, Nigeria’s economic hub, Kumuyi drew our attention to a new point in his evangelical trajectory, when he formally launched the initiative he christened Global Crusade with Kumuyi (GCK). Born in his denomination, GCK is inclusive and centrifugal; it’s an open body, with wide arms stretched to receive all worldwide, irrespective of your faith, class, culture or country. The cleric’s global outreach had started in Abuja, Nigeria’s capital, in 2021. But observers claimed its structural garb appeared to have become tame and lame as a vehicle designed to capture the wider vision he has been unmasking. Previously, the respected evangelist had ‘informally’ undertaken missions outside Nigeria to preach the Gospel of Christ. However, they were all under the shadow of DCLM. Critics said this seemed to limit the churchman, giving the unintended impression that his crusades were a closed shop. So, there had been a troubling thinking that these gatherings were planned exclusively for his denominational flock. This pedestrian perception always threatened to project into restrictive realities, leading many to the imagery of the Procrustean bed: everybody, short, tall, bulgy or sparse of flesh, must lie in the Deeper Life bed: they must be squeezed to fit into it. The charge was that there seemed to be no sensitivity to distinct individual and spiritual tastes of denominational yearnings. All were,

Kumuyi willy-nilly, served the same menu by Kumuyi. In my mind, these conclusions were gravely unfair to the preacher and his calling, which, like that of Jesus Christ and of His early followers, is without frontiers. Whether to address these concerns or not, Pastor Kumuyi now says he’s presenting an international platform on which he will stand to reach the whole world. By the way, his sermons have always been meant for the whole humanity. Yet, to fulfil all righteousness, this GCK rostrum, he says, won’t be a DCLM affair; nor is it Nigerian; it is going to be borderless; it will be a construction God is bringing all the movements of His Universal Church to put together this end time of man’s history. By

Kumuyi’s own reckoning, GCK is the new cauldron God will employ to brew hope for grieving humanity in our generation. Many of us believe this under-reported, under-marketed and under-exposed African missionary would now, at last, receive due global accord, as he exports the Gospel message to the world, deploying a home-grown apparatus. When he introduced this nondenominational vehicle (GCK) which he now hopes to drive the Gospel around the globe, the 82-year pastor said the initiative ‘’was borne out of the mission and mandate of Jesus Christ to proclaim the Good News of Christ, and bring reprieve and solace to the world, which has been gripped with unresolved crisis.’’ He spoke of taking GCK to ‘’Liberia, Togo, Ghana and the United States’’ and beyond. He has since been to Ghana, Togo, Cameroun and Zambia. Bigger and busier global trips capturing Asia, Europe and the Americas and more of Africa are in the works for Kumuyi before the end of 2023 and in the years ahead. This schedule will see GCK head for India in November, 2023. A continent used to receiving Christian missionaries from Europe and America is now reversing the role. An African is traversing the nations of the world to restore to them what they’ve lost, after the West first brought it to us. The disturbing tale the Europeans and Americans told us was that being the darkest under Heaven, our continent needed to be saved. Yet, we didn’t experience salvation but humiliating and excruciating enslavement. We were merchandised minions on plantations thousands of miles across the Atlantic. Their missionary kinsmen later came, giving better spiritual perspectives and tutorials: we all, black and white, were lost and must be delivered from the coming judgement of a wronged God. The Bible they brought confirmed it: the censorious slave-dealers who painted Africa dark and ruled we were doomed weren’t better either; they were as guilty; they were black in their soul and, therefore, needing salvation, also. The tutor wasn’t better than the pupil. Both, not only the black race, were required to go to the

Ultimate Rabbi for redemption. Today, following the thumping spiritual fall of humanity’s erstwhile headmaster, the West, Heaven is asking Africa to come to their rescue, before they bring down the entire mankind to their knees. The West can’t again be looked upon for escape from the wrath to come. They have broken loose from mainstream humanity and are now feeding on a raft of deeds and inventions and teachings surpassing what undid civilisations that went completely under in the blaze of God’s punitive fury. The West is sick, and cannot cure sinking mankind. Many believe that the same way God moved the preachers of the revivalist Christian era to head for Africa to cleanse it of her ignorance is the same way He is writing a new narrative mandating Africa to go to the aid of grieving man being misled by the West now bereft of the Reinhard Bonnkes and Billy Grahams who used to visit Africa. A new missionary expedition is the order of the day in the 21st Century, and Africa is the cynosure of all eyes. GCK, recording outings emblazoned in genuine salvation for millions, signs and wonders such as the raising of the dead, healing of terminal ailments, restoration of hope for the despondent, is poised to give the world hope that God hasn’t abandoned His creatures. In Africa and other areas of the globe, we used to gather in hundreds of thousands at the crusades of evangelists from the Western Hemisphere, sitting at their feet to receive the Word of God. The times have changed; the centre of gravity of man’s spiritual rebirth has moved; God is calling forth a new set of His trusted generals from Africa, persons of integrity, no more solely from the western part of the world, but chiefly from here in our continent, to do His work. These won’t be found desecrating and weakening the Church and society with misanthropic Malthusian LGBTQ+ doctrines and unhealthy practices, which are a threat, not only to the faith community worldwide, but also to all the inhabitants of the planet. •Ojewale is a writer in Ota, Ogun State, Nigeria.

NEWS

Gaza War: ICRC Calls for Immediate De-escalation of Hostilities Michael Olugbode in Abuja

he International Committee of the Red Cross (ICRC) has called for immediate de-escalation of hostilities between the Israeli soldiers and Hamas militants in the Gaza Strip in order to put a stop to the growing number of civilian casualties. The humanitarian organisation in a statement at the weekend, lamented that the hostilities have rendered over two million civilians trapped in densely populated Gaza Strip. The statement read that: “After weeks of intense fighting, over two million civilians are trapped in the densely populated Gaza Strip with nowhere to flee to for safety. “With hostilities continuing unabated, the International Committee of the Red Cross (ICRC) is urgently appealing for civilian life to be protected and respected on all sides. “The immediate imperative must be to save lives and preserve humanity, including by ensuring hospitals can operate in safety. Critical services like healthcare, water, and electricity must be immediately restored in Gaza as a lifesaving priority.” The statement quoted the President of ICRC, Mirjana Spoljaric, to have said: “I am shocked by the intolerable level of human suffering and urge the parties to the conflict to deescalate now. The tragic loss of so many civilian lives is deplorable. “It is unacceptable that civilians have no safe place to go in Gaza amid the massive bombardments, and with a military siege in place there is also no adequate humanitarian response currently possible. This is a catastrophic

failing that the world must not tolerate.” Under international humanitarian law, the parties are obligated to spare civilians from the effects of military operations at all times, to distinguish between civilians and military targets, and to never use human shields to prevent military objectives from being attacked. They must also ensure that the basic needs of the population are met. Spoljaric said: “In the face of this dramatic armed conflict, what is critically needed now is adherence to international humanitarian law by all parties. “An unhindered flow of humanitarian relief and personnel into Gaza is vital, as is the capacity to get basic services

on their feet again. Sustained humanitarian access is imperative, and aid workers must be able to operate in a safe environment.” At present, thousands of families in Gaza are sleeping in makeshift shelters or out in the open with little food and water, while destroyed homes and essential infrastructure are expected to take years to rebuild, and the hospitals still functioning are on the verge of collapse as they run out of supplies to care for the many sick and injured. Most wastewater plants are no longer functioning. The statement said ICRC teams in Gaza were doing their utmost to help in dangerous and chaotic conditions. Ten ICRC experts including a surgical team and additional

medical supplies has arrived in Gaza, but this small dose of relief is not enough given the tragedy unfolding in Gaza. The statement read that: “We continue our dialogue with the parties to find solutions to the most pressing humanitarian issues, such as protecting civilians and helping the wounded. “The ICRC continues to call for the immediate release of all hostages, and we reiterate our offer to facilitate any future hostage release operation. We also ask to visit the hostages, bring them medicines, and to facilitate contact with their families who are worried sick waiting for news.”

World Polio Day: Rotary Sensitises Nursing Mothers on Hygiene Blessing Ibunge in Port Harcourt As part of an effort to ensure that Nigeria remains a polio-free country, the Rotary Club of Port Harcourt Express, District 9141 in Rivers, has sensitised nursing mothers on the need to maintain personal hygiene. President of the club, Mr Shittu Abdulrasheed, addressed nursing mothers at an event to mark the 2023 World Polio Day, held at Rumukwurusi Model Health Centre in Port Harcourt. He stated that despite the country being declared polio-free by the World Health Organisation (WHO), nursing mothers must maintain personal hygiene and regularly immunise their babies to prevent polio

and other diseases. “We have told them basically that it’s very important that every newborn is immunised, and that mothers have a duty to ensure that they practice good personal hygiene, they should wash their hands regularly before preparing food for their kids and after using the toilets,” said Abdulrasheed. Abdulrasheed said the organisation was committed to eradicating polio. “We know that we are 99 per cent in kicking polio out of the world, so in case you are wondering why we are still fighting polio, the truth is, so long as polio remains in two countries of the world such as Afghanistan and Pakistan,

no child anywhere is safe and Rotary has been involved in this fight including our partners and we intend to fight it till we eradicate polio completely from the surface of the earth,” Abdulrasheed explained. A former president of the club, Faith Ogbu, said the organisation was reaching out to all nooks and crannies of the world, including rural areas, to ensure that no trace of polio. A beneficiary, Mrs Favour Chinedu, who benefitted from the free immunisation and sanitary supplies from the club, called on other agencies to emulate Rotary in carrying out charitable activities, especially for nursing mothers and the less privileged.

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Building regulations and urban planning have become imperative in Lagos State, writes JAMES FAKALE

AN END TO IMPUNITY In the last few weeks, the government of Mr Babajide Olusola Sanwo-Olu has increased the tempo of enforcement of extant environmental and physical planning laws for the collective survival of the state. Governor Sanwo-Olu who is committed to the mega city plan of Lagos, has not relented in ensuring that sanity is maintained in the state. The government under the ministry of Environment has been very hard on residents who are contravening environmental laws, and defiants who dared the laws by erecting permanent structures on the right of way of canals, and other drainages. The reclamation of setbacks and alignments on water channels had started without minding whose ox is gored. Lagos, a coastal city with a vast body of water,

is often prone to flooding due to its geography. However, successive governments have been very proactive in wading off threats by clearing canals, water drainages both primary, secondary and tertiary water drainages. Despite all the efforts, some residents are hell bent on sabotaging the efforts through their activities that are inimical to the environment. Critics are often quick to lambast the government when the city is submerged in flood, they heap the blame on the leaders at the helm of affairs without interrogating unhealthy human activities that exacerbate the crisis. Strangely, when the government deals decisively with those causing nuisance that put the entire city in peril, they are also quick to attack the government of insensitivity. The case in context is the ongoing demolition of structures erected on water channels in the Ikota area of Lekki in Lagos. Emotions ran high when the Honourable commissioner of Environment in Lagos State, Hon. Tokunbo Wahaab, acting on the directive of the governor moved into the area to remove nuisances causing pains and havoc whenever it rains in Lekki and the adjourning communities, including Gedegede area in Lekki Phase 2. According to the government, owners of the affected buildings have been served notices severally in the last 20 years. It was gathered that when the buildings were at foundation level in the year 2020, the government had issued warnings to owners not to erect structures on the waterways. This renewed drive for environmental sanity came on the heels of the one-week quit notice issued by Governor Babajide Sanwo-Olu to people who have illegally constructed buildings, shops and market stalls on drainages across the state. Speaking with the media at the site of the demolition, the Commissioner for the Environment and Water Resources, Tokunbo Wahab, who was represented by the Director of Drainage of Enforcement and Compliance, Mahmood Adegbite, reiterated the commitment of the Sanwo-Olu administration to environmental and physical planning laws of Lagos. He said, “They however proved recalcitrant

and rebuffed all measures suggested by the government to prevent flooding, sandfilled the setback of the channel preparatory to constructing more structures. The act of impunity must be curtailed for Lagos to be habitable for all. Government has the responsibility of protecting the overall interests of all citizens at all times. That is what the government of Sanwo-Olu has been championing since it took the reins of power in 2019. One of the key areas of his administration as espoused in the THEME agenda is physical planning and environmental sustainability. On this score, the government has prioritised urban renewal projects and developments of critical infrastructure that will enable greater prosperity of citizens. Roads construction and rehabilitation, bridge construction and traffic decongestion, expansion of access to rural communities and farmlands for greater food security. The government is also keen on waste management and encourages green spaces in line with global best practice. Lagos under Sanwo-Olu has experienced tremendous improvements in all the critical sectors. Aside from issues in the environment, traffic management and transportations are other sectors where the governor has done well. Intermodal transport system thrives in Lagos. Lagosians have mobility options of trains, boats, taxis, mini-buses and mass transit buses. Also, Sanwo-Olu’s administration worked on various strategies to improve transportation, including the expansion of the bus rapid transit routes. Building regulations and urban planning have become imperative in light of the rapid population growth in Lagos State and attendant pressure on public infrastructure and other amenities. Therefore, the government of Sanwo-Olu should be applauded for enforcing building codes and urban planning regulations more strictly. There is a need for all construction activities and players in the built environment to adhere to specified, acceptable standards, thereby reducing the menace of illegal structures and enhancing the overall urban environment. The opportunities in the marine economy of Lagos are massive. The coastal assets of Lagos are also being harnessed for the benefit of all citizens of Lagos State. Emphasis is sustainable waterfront development and the regulation of activities along the coastline. In the area of public health and sanitation, Governor Sanwo-Olu administration worked towards improving public health and sanitation in Lagos State. The efforts include provision of water and waste management. Lagos residents should show understanding with the governor of Lagos State on this mission to restore Lagos back on the path of sanity. The antecedence of the governor in over four years he has been in the saddle speaks to his great plans for Lagos. He is a pan-Nigerian who has had interactions across cultures and languages. False alarmists who are reading ethnic agenda into the ongoing removal of illegal structures constructed on waterways need to be cautioned. No amount of blackmail and false narratives can derail the visionary leadership of Babajide Sanwo-Olu in Lagos State. This development should also be an eye-opener to anyone who wants to invest in real estate in Lagos. The maxim should be to investigate before investing. Not every available space is meant for residential or commercial property development. Setbacks and drainage alignments should be respected at all times. Fakale writes from Lagos

BASHIR IBRAHIM HASSAN peeps into a document critical to aligning the country with the Renewed Hope Agenda

UNDERSTANDING TIJANI’S PLAN FOR THE COMMUNICATIONS SECTOR People’s pasts are often a potpourri of President Tinubu,” said a stakeholder in those positive things that have the potential to the industry. “His humility, professionalism enhance their reputation and the lethal ones and commitment to consultative leadership that can undermine their chances. They are the are well known, especially those who are PRUH SUHSRQGHUDQW WKLQJV WKDW GHÀQH ZKHUH closely associated with him. Bosun’s eyes are the swing of fortune – or misfortune – goes. always on the ball – focused and committed On 5 August 2023, when he confronted ‘his to the objective of contributing his quota to past’, it was the positive things that Bosun Tijani the development of his fatherland.” had done in life that knocked out his exuberant Among the newly appointed ministers expressions of concern in a number of tweets, in the Tinubu administration, Tijani may even if borne out of patriotism that seemed well be the new kid on the block. Meeting innocuous and heartfelt in the past. public expectation, the Ministry of There was also his contrition – a very honest Communications, Innovations and Digital apology – in saying: “The tweets online don’t Economy has released a 31-page document represent me at all. As a young man born and titled ‘Accelerating our Collective bred by Yoruba parents, I tender my sincere 3URVSHULW\ WKURXJK 7HFKQLFDO (΀FLHQF\ LWV apology. I am profusely sorry. I am a patriotic strategic plan.’ Nigerian. I believe so much in this country and According to the Minister’s ally, the I won’t do anything to undermine the integrity document is still in draft form. It will of this country.” Senate President Godswill undergo further review by the ministry Akpabio accepted the apology on behalf of the DQG LWV SHHUV EHIRUH LWV ÀQDOL]DWLRQ ´,W·V Senate after some members spoke in Tijani’s still work in progress,” says the source. defence citing his impressive credentials. “It’s presented in a way that accommodates The Bosun Tijjani’s credentials are indeed more ideas and elaboration.” impressive. In the preface, the author put the He holds a B Sc. in Economics and a Diploma document in context thus: “In the spirit in Computer Science from the University of progress and innovation, I am pleased to share this strategic blueprint for the Ministry of Communications, Innovation & Digital Economy. This document is a critical launchpad in our journey towards a Nigeria that thrives in the digital age in alignment with the Renewed Hope Agenda of President Bola Ahmed Tinubu, GCFR.” The document covers the agencies with which the Ministry will collaborate in the delivery of its mandate; the theoretical foundation of the blueprint it provides; its Strategic Agenda 2023- 2027 based on the pillars of knowledge, policy, infrastructure, innovation - entrepreneurship - capital, of Jos, and an M Sc. in Information Systems and trade; Public Sector Project Complexity and Management from Warwick Business Index; Alignment with the Renewed Hope School in England. In March this year, Tijani Agenda; A New Way of Working; and accomplished his PhD in Innovation and Conclusion – A Living Blueprint. Economic Development from the University In the introduction Tijani elaborates on of Leicester. If his academic credentials are the vision that will drive the Ministry’s impressive, intimidating would best describe work thus: “In a world where digital what he has done with his skills and passion. transformation and innovation is fast Tijani was the CEO and co-founder of CcHub, becoming a catalyst for economic progress, one of Africa’s leading technology hubs. we are at a critical moment as a nation in Under his leadership, CcHub has expanded its our journey towards a more inclusive and presence across Nigeria, Kenya, and Namibia, prosperous future. The intersection of a transforming from its humble beginnings in strong digital economy and our innovative Yaba, Lagos, into a powerful catalyst for tech. and youthful population presents us with advancement in Africa. a unique opportunity to chart a course In reporting the drama at the Senate, towards prosperity, inclusion and global Techcabal, an online newsletter of the smart relevance. technology industry, noted that “While Tijani’s “President Tinubu’s Renewed Hope apology might ensure that he’ll scale the Agenda has at its core, a recognition of ministerial screening, the Senate’s decision to the power of technology and innovation question him over his past tweets will raise as enablers of economic growth and questions about censure. On one hand, many development,” he states. “It is a call for DUJXH WKDW KLV WZHHWV ZHUH D UHÁHFWLRQ RI WKH us to take advantage of the opportunities frustration of the average Nigerian about presented to us with a spirit of determination the state of the polity and the leaders. They and conviction. also argue that such criticism shouldn’t be “I extend an open invitation to all considered to represent a lack of patriotism. stakeholders, both within and outside In the end, the argument is pretty government, to unite in this collective VWUDLJKWIRUZDUG ZKHQ FULWLFV DUH RͿHUHG D endeavour. It is our shared vision, ambition chance to serve in the government, they should and commitment that will drive us towards be judged by their competence and pedigree -- a Nigeria that not only embraces the digital and not their critical opinions. age but leads it. Let us rise together and The rest is now history – Bosun Tijani got the VHL]H WKLV PRPHQW LQ RXU KLVWRU\ WR VKDSH D nod from the Senate to be made a minister and future that we can all be proud of.” was assigned the portfolio of Communications, Innovation and Digital Economy. Hassan ´7KLV LV RQH RI WKH ÀQHVW GHFLVLRQV RI writes from Abuja

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MONDAY OCTOBER 30, 2023

EDITORIAL

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

ENTRENCHING THE RULE OF LAW (1) There is urgent need to strengthen the Supreme Court by appointing more Justices

SUDFWLFH 7KDW ZLOO QRW KDSSHQ LI DV DOOHJHG E\ -XVWLFH t his valedictory last Friday, retiring Dattijo, the CJN acts unilaterally. Justice Dattijo Muhammad of the 7KH DSH[ FRXUW LV WKH XOWLPDWH GHWHUPLQDQW RI Supreme Court made damning questions of justice in the land. Beyond it, the next allegations that touch on the rule of law OHYHO RI DSSHDO LV WR *RG 7KHUHIRUH WKH ULJKW RI HYHU\ in Nigeria. From overconcentration of citizen to justice, the entire principle of rule of law oversight and ‘absolute power’ in the and equality before the law which are fundamental hands of the Chief Justice of Nigeria (CJN) to delivering to the existence of a democratic order reside in the controversial judgements that have no basis in law or apex court. Minimally then, those who are appointed commonsense, Justice Dattijo was brutally frank on must inspire in the citizenry and the international the rot within. After highlighting how most of the FRPPXQLW\ D FHUWDLQ FRQÀGHQFH GHULYDEOH IURP WKH appointments rest with only the CJN, as chairman meritocratic rigour of their selection process. of the National Judicial Council (NJC), Dattijo noted: Initiating the process for appointments into the ´6XFK HQRUPRXV SRZHUV DUH HͿRUWOHVVO\ DEXVHG 7KLV court is the prerogative of the NJC. But many have needs to change. Continued denial of the existence of DOVR REVHUYHG WKDW WKH SURFHVV LV ÁDZHG DE LQLWLR WKLV WKUHDWHQLQJ DQRPDO\ ZHDNHQV HͿHFWLYH MXGLFLDO 7KH ÀUVW FRQVLGHUDWLRQ LV oversight in the country.” geopolitics, which is about While several critical where such nominees come We suggest a quick return to the glorious era of the Court when it issues have been raised from. After that comes by Justice Dattijo, we will comprised of vibrant judges appointed from the high court and court of the practice of elevating limit this intervention to only justices of the Court two. One, depletion of the appeal as well as from among law lecturers and lawyers in legal practice of Appeal to the Supreme Supreme Court bench to &RXUW 7KH DUJXPHQW KDV PHPEHUV 7ZR KRZ always been that senior election-related cases lawyers with pedigree have compromised the T H I S D AY and respected academics should be appointed to the EDITOR SHAKA MOMODU MXGLFLDU\ LQ 1LJHULD 2Q WKH ÀUVW LVVXH RI YDFDQFLHV Supreme Court to make it more virile. Furthermore, DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA against the background that the 1999 Constitution (as MANAGING DIRECTOR ENIOLA BELLO this may be the time to restructure the NJC in such a amended) prescribes 21 Justices as the full complement DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU manner that removes it from being an appendage of of the court’s bench, the requisite number now CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI the CJN. IDOOV VKRUW E\ 7KDW KDV GLUH LPSOLFDWLRQV IRU WKH EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN 0HDQZKLOH ZKHQ WKH OLVW RI QRPLQHHV LV ÀQDOO\ THE OMBUDSMAN KAYODE KOMOLAFE administration of justice and rule of law in Nigeria. submitted to the Senate, the lawmakers must “A single drop in the number of justices here brings also recognise the enormity of their responsibility about a sudden increase in our workload,” the CJN, HVSHFLDOO\ ZKHQ LW FRPHV WR WKH FRQÀUPDWLRQ KHDULQJV Olukayode Ariwoola recently lamented. 7KH REMHFW RI WKHVH KHDULQJV LV ÀUVW WR UHDVVXUH WKH T H I S D AY N E W S PA P E R S L I M I T E D However, beyond the issue of depletion in number, public that persons nominated to become Supreme EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA there are several concerns about justice administration GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, &RXUW -XVWLFHV PHHW WKH FULWHULRQ RI ¶ÀW DQG SURSHU in Nigeria that should also be addressed. While the ISRAEL IWEGBU, EMMANUEL EFENI persons.’ In addition, such nominees must possess NJC must ensure that the apex court is fully constituted DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, WKH DSSURSULDWH UHTXLVLWH TXDOLÀFDWLRQV LQ D SURYHQ with 21 Justices in line with the provision of the ANTHONY OGEDENGBE manner. Reducing such hearings to the banality DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI Constitution, we suggest a quick return to the glorious SNR. ASSOCIATE DIRECTOR ERIC OJEH of ‘take a bow’ or asking questions that require no era of the Court when it comprised of vibrant judges ASSOCIATE DIRECTOR PATRICK EIMIUHI rigour will be nothing but a gross disservice to the appointed from the high court and court of appeal as CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI administration of justice in Nigeria. well as from among law lecturers and lawyers in legal DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO To be concluded tomorrow TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com

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

LETTERS LIKE RWANDA, LIKE NIGERIA Rwanda is an East Africa country colonized by the Belgian DQG GRPLQDWHG E\ WZR HWKQLF QDWLRQDOLWLHV QDPHO\ WKH 7XWVL DQG +XWX 7KH %HOJLDQ SXUVXHG D VWUDWHJ\ RI GLYLGH DQG FRQTXHU 7KH\ RSHQO\ IDYRXUHG WKH 7XWVL ZKRP WKH\ FRQsidered superior and to be natural-born rulers and whom they instrumentalized to control the Hutu majority. Nigeria LV D :HVW $IULFD FRXQWU\ FRORQL]HG E\ %ULWDLQ DQG GHÀQHG by three ethic national identities namely, Hausa, Yoruba and ,JER 7KH %ULWLVK SXUVXHG D VWUDWHJ\ RI GLYLGH DQG FRQTXHU 7KH\ RSHQO\ IDYRXUHG WKH +DXVD ZKRP WKH\ FRQVLGHUHG WR be natural-born rulers and whom they instrumentalized to lord it over the Yoruba and Igbo. It is the division created by the Belgian that led to the 1994 genocide in Rwanda, where DERXW 7XWVL GLHG LQ WKH KDQGV RI WKHLU +XWX NLQGUHG It is also the division created by the British that led to the NiJHULD &LYLO ZDU LQ 7KHUH DUH PDQ\ OHVVRQV IRU 1LJHULD from Rwanda experience, the transition from a country divided by two ethnic nationalities to one people. It is the ideology of one people Rwandan that led to a new Rwanda and a QHZ OHDGHUVKLS 7KHUH ZHUH VSHFLÀF SROLFLHV LPSOHPHQWHG E\ Rwanda government to birth a new Rwanda namely, inclusive Rwandan identity policy, decentralization policy and re-

JLRQDO SROLF\ 7KXV 1LJHULD JRYHUQPHQW OHG E\ %ROD $KPHG 7LQXEX VKRXOG VHW XS D 1DWLRQDO 8QLW\ DQG 5HFRQFLOLDWLRQ Commission to drive an inclusive Nigerian identity and purVXH WKH YLVLRQ RI RQH 1LJHULDQ DQG D QHZ 1LJHULD 7DNH EROG VWHSV WR EDQ HWKQLF JURXS LGHQWLÀFDWLRQ DPRQJ SXEOLF R΀FH holders and declare every state of Nigeria as a state for Nigerians and not an ethnic group state. Ensure passage of laws WKDW DOORZ DOO 1LJHULDQV WR SDUWLFLSDWH LQ HOHFWRUDO R΀FHV LQ any state of the federation having resided in such state for 10 \HDUV 7KH JRYHUQPHQW RI 1LJHULD VKRXOG VHW XS D GHFHQWUDOization policy that is workable, and convert zonal intervention project fund of the National Assembly to National Local *RYHUQPHQW IXQG )LQDOO\ WKH 7LQXEX DGPLQLVWUDWLRQ VKRXOG set up a regional development commission to drive regional policy that would help identify commercially viable investPHQW SURMHFWV LQ GLͿHUHQW UHJLRQV DQG SXUVXH D YLVLRQ WKDW ZRXOG KHOS VWDWHV IURP HDFK UHJLRQ DWWDLQ ÀQDQFLDO LQGHSHQdence from central government allocation. With Bola Ahmed 7LQXEX D QHZ 1LJHULD DQG D QHZ OHDGHUVKLS RI LQFOXVLYHQHVV unity and progress is possible on the vision of one Nigerian. Pedro Ukokobili, Abuja

A SMOKING CARD UP THE SLEEVE

It used to be an ace up the sleeve that people watched for but for me as a teacher it was a note that I watched for. Now however it is more likely to be a nicotine patch hidden up that sleeve. Victoria (Australia) has just started their senior level exams and there are a number of students ‘caught’ with patches on their arms as the exam can be up to three hours and that is too long to go without D SXͿ 2GGO\ WKHUH ZDVQ·W DV JUHDW D QHHG ZKHQ VRPH VWXGHQWV ZHUH cigarette smokers. 7KH FRQFHUQ ZLWK SDWFKHV LVQ·W UHODWHG WR H[DP SHUIRUPDQFH but rather to the epidemic of young people vaping even where it LV EDQQHG EXW WKDW·V WKH QDWXUH RI DGGLFWLRQ 7KH HYHU VHPL UHOLDEOH google search tells me that many cigarette manufacturers are behind vapes given that old fashioned cigarette smoking rates are declining, thank heavens. No one can seriously argue that cigarettes or vapes are good for SHRSOH DQG JLYHQ WKH PDQ\ ZKR KDYH GLHG IURP WKHLU HͿHFWV LW·V WLPH to ban them in all forms. Live long and healthy, which will be easier if you have no addictions. Dennis Fitzgerald, Melbourne, Australia

MONDAY OCTOBER 30, 2023 • T H I S D AY

T H I S D AY ˾ MONDAY, OCTOBER 30, 2023

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

O C T O B E R

S & P INDEX

2 7 , 2 0 2 3

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

19.12%

INDEX LEVEL

611.31%

1/4 TO DATE

-0.07%

N795.28/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT FRIDAY, JULY 21, 2023

3-MONTH

15.75%

MONTH-TO-DATE

-0.7%

Dangote Cement, Access Holdings, 11 Others Declare 81% Increase in PBT to N1.67tn

Kayode Tokede Amid macro economic challenges, Dangote Cement Plc, Access Holdings and 11 other companies operating in Nigeria, and other countries in Africa reported 81 per cent increase in profit before tax to N1.67trillion in nine months ended September 30, 2023 from N920.43 billion in nine months of 2022. In the period under review, the 13 companies announced N1.33 trillion profit, an increase of 92.2 per cent from N694.33 billion reported in nine months of 2022. The growth in PBT and PAT in the period under review indicated that the corporate world has shaken off the adverse impact of the macro economic challenges and may outperform analysts’ expectations

in 2023 full year results. Macro economic challenges such as inflation rate that moved to 26.72 per cent as of September 2023 from 20.77 per cent September 2022 and struggling Naira that closed September 2023 at N768.76 /Dollar from N432.37/Dollar September 2022 played a significant role in these companies’ performance in the period under review. Major global economies remain fragile Post COVID-19 pandemic and the nine months of 2023 saw a slew of Central Bank of Nigeria (CBN) interest rate hikes as the Monetary Policy Committee (MPC) adopted monetary tightening measures amidst heightened inflationary pressures. As advanced economies focused on curtailing inflationary pressures in the face of lingering supply-demand

imbalance, listed companies were faced with rising energy prices that have adversely reduced profits in the period under review. Analysis of the companies’ nine months earnings revealed that GTCO, followed by Dangote Cement generated the highest PBT out of the 13 companies listed on the Nigerian Exchange Limited (NGX). Following the N334.35 billion generated from foreign exchange revaluation gain in nine months of 2023, GTCO announced N433.2billion PBT in nine months of 2023, an increase of 155.24 per cent from N169.72billion reported in nine months of 2022. The lender declared N367.42billion profit in the period under review, a growth of 181.87per cent from N130.35billion reported in

corresponding period of 2022. While commenting on the H1 2023 results, the Group Chief Executive Officer of GTCO, Mr. Segun Agbaje, in a statement saidm “Despite the challenges in the business environment, notably inflationary pressures and exchange rate fluctuations, we are starting to see the gains in the transformation of our businesses following our transition to a Holding Company structure. Improved profitability and a solid performance across key metrics reflect efficiencies and justify the investments we continue to make in technology, product development, and our people.” He further said, “We recognise the impact prevailing economic and market conditions have on people and livelihoods and we remain

committed to seeking better outcomes for our customers by ensuring that our products and service offerings support our customers and their businesses through their evolving realities, whilst also taking every opportunity to optimise stakeholder value.” With about 29 per cent increase in revenue to N1.51trillion in nine months of 2023, Dangote Cement reported N404.89 billion PBT, representing an increase of 20.5 per cent from N335.9billion reported in nine months of 2022. The Cement maker reported N277.55billion profit in nine months of 2023, an increase of 30.2 per cent from N213.10 billion reported in nine months of 2022. Dangote Cement’s net exchange loss on foreign denominated transactions,

hike in production cost of sales, finance cost and selling and distribution expenses impacted negatively on the company’s PBT as the combined four indicators hits N1.16tillion in nine months of 2023 from N873.67 billion in nine months of 2022. Speaking on the results, Chief Executive Officer, Arvind Pathak, in a statement said, “this positive nine-months result is a combination of our strong value proposition, improved operational efficiency and a sustained drive to contain cost amidst an accelerating inflationary environment. We achieved double-digit growth in Group revenue at N1.51trillion, while EBITDA rose to an all-time high of N662.8billion, up 28.5 per cent.” The story continues online on www.thisdaylive.com

Three Tier-1 Banks Generate N123.94tn from Electronic Banking Nume Ekeghe As more Nigerians migrate to electronic banking, three leading technological-driven banks in Nigeria, Access Holdings Plc, Guaranty Trust Holdings Plc, and Zenith Bank Plc generated N123.94 trillion via Mobile Banking, Automated Teller Machine (ATM), Unstructured Supplementary Service Data (USSD) among other electronic banking platforms in half year ended June 30, 2023. This represent an increase of 28.3

per cent over N96.58 trillion reported in the corresponding half-year ended June 30, 2022. Analysis of the banks’ results for the half-year ended June 30, 2023 showed that the three banks generated N87.43billion from Channels and other E-business income in H1 2023 as against N82.07billion reported in H1 2022. In the period under consideration, Zenith Bank generated the highest value of transactions in the banking via electronic banking platforms, followed by Access Holdings.

Zenith Bank raked N54.03 trillion from all its electronic banking platforms in H1 2023, an increase of 9.1 per cent from N49.5 trillion reported in H1 2022. For Access Holdings, it generated N49.69 trillion from all its electronic banking platforms in H1 2023 from N28.85 trillion in H1 2022, while GTCO declared N20.22 trillion revenue from its electronic banking platforms in H1 2023, an increase of about 11 per cent from N18.22 trillion reported in H1 2022. According to GTCO, “We

continued to make significant investments in enhancing our digital banking capabilities to consolidate our dominance in this key market segment.” GTCO generated N1.43 trillion USSD value of transactions in H1 2023, a decline of 15 per cent from N1.68 trillion reported in H1 2022. “In terms of value, USSD transactions stood at N1.43 trillion dipping by 15 per cent over the corresponding period and mirroring the increase in mobile banking transaction value over the same

period as customers continued to show sensitivity to the N6.98 USSD transaction charge. In terms of volume, USSD averaged 87 million, a seven per cent growth over the corresponding period in 2022,” the Group in a statement to investors/analysts said. GTCO explained that there was increased adoption of electronic banking platforms with strong growth in both volume and value of Mobile Banking. It stated: “14per cent year-onyear growth in Mobile Banking

transaction value; from N15.2 trillion in H1 2022 to N17.4 trillion in H1 2023 on the back of a 44per cent increase in volume from N224.9 million to N323.5 million from new users on the platforms. “The decline in USSD and Internet Banking volume indicates customers’ continued preference for mobile channels. The value and volume of Internet Banking transactions spiked from Mar ‘23 as customers sought alternatives to cash following the cash crunch from the Naira redesign exercise.”

M A R K E T D ATA A S AT F R I D AY, O C T O B E R 2 7 , 2 0 2 3 BONDS Change Updated Time DESCRIPTION Price Yield (%) ^13.53 230,00 October 101.45 12.35 27, 2023 MAR-2025 ^12.50 22October 98.29 13.38 0,00 JAN-2026 27, 2023 ^16.2884 17October 105.97 14.00 2,00 MAR-2027 27, 2023 ^13.98 23October 97.97 14.61 15,00 FEB-2028 27, 2023 ^14.55 26October 97.62 15.20 37,00 APR-2029 27, 2023

BILLS MATURITY

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Change (%) Updated Time

MATURITY

NTB 9-Nov23 NTB 7-Dec23 NTB 25-Jan24 NTB 8-Feb24 NTB 7-Mar24

2.57

0.00 October 27, 2023

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3.94

0.00 October 27, 2023

6.50

6.61

2.06 October 27, 2023

NSDL CP IIA 22-NOV-23 MTNN CP V 23-NOV-23

4.39

4.44

0.00 October 27, 2023

6.24

0.00 October 27, 2023

6.10

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NSDL CP IIB 23-NOV-23

VAAG CP XVII 24-NOV-23 RICL CP IV 1-DEC-23

Discount Yield 19.29

19.56

11.30

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19.33

19.61

16.73

16.95

16.29

16.55

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-2,00 October 27, 2023 1,00 October 27, 2023 1,00 October 27, 2023 4,00 October 27, 2023 26,00 October 27, 2023

CONTRACT Current TENOR Contract Rate ($/₦) (MONTH) NGUS NOV 1 – 27 2024 NGUS DEC 2 – 24 2024 NGUS JAN 3 – 29 2025 NGUS FEB 4 – 26 2025 NGUS MAR 5 – 26 2025

Updated Time

October 27, 2023 October 27, 2023 October 27, 2023 October 27, 2023 October 27, 2023

MONDAY, OCTOBER 30, 2023 ˾ T H I S D AY

BUSINESSWORLD

NEWS

Onyema Identifies Operational Challenges as Air Peace Turns 9 Chinedu Eze The Chairman and CEO of Air Peace Nigeria Limited, Allen Onyema has identified lack of transit facilities at the international airports in the country as one of the many challenges that beset domestic airline operation in Nigeria. Onyema who commended Nigerians and the federal government for their role in making the airline a success as it tuned nine last week, stated that not having transit facilities at the Murtala Muhammed International Airport (MMIA), Lagos and the Nnamdi Azikiwe International Airport, Abuja has blunted the competitiveness of Nigerian airlines. He said Air Peace operates

to destinations in the West and Central Africa, so, it ought to bring passengers from Douala, Banjul, Accra, Lome, Monrovia, Dakar, Freetown and others to its hub in Lagos and from Lagos airlift them to India, China, South Africa, Jeddah and other long-haul destinations. “But unfortunately, we don’t have transit facility where these passengers will stay until they board their next flight and Nigeria Immigration Service and Nigeria Customs Service are yet to segment this class of passengers who in other countries are made to wait in the transit facility on the airside until they are due to fly again. “Currently Immigration treats them like other passengers whose

final destination is Nigeria and are expected to obtain visa and follow other procedures like other passengers who are arriving Nigeria. What is usually obtained is that as long as the passengers are not leaving the airport, they do not need visa because they are on transit,” he said. Another challenge, the Air Peace Chairman pointed out is the fact that Nigerian airlines cannot obtain dollars even from the Central Bank of Nigeria (CBN). He disclosed that Air Peace paid CBN naira to obtain about $14 million for the maintenance of 15 of its aircraft at maintenance facilities overseas, “but that money has not been made available to the us since the past six months.”

Heirs Life Highlights Role of Technology in Attracting Customers to Insurance The Managing Director Heirs Insurance Life, Mr Niyi Onifade, has outlined the role of technology in bringing customers closer to insurance. Onifade stated this during a panel discussion at the 2nd edition of the United Capital Securities’ Insurance CEO Breakfast Forum held in Lagos. Onifade charged insurance regulators to adopt Heirs Insurance Group’s digital framework as the minimum industry standard to drive insurance accessibility and service quality across the country. He said from the first day, Heirs

Insurance entered the market, it realised that it must go digital and thus, embraced digital tools from the start and drive insurance education heavily through its social media platforms and other digital channels. He cited the deliberate steps the companies within Heirs Insurance Group have taken to lay a strong digital and technology foundation for its service. Onifade further outlined how the infusion of technology has been pivotal in revolutionising the overall customer experience at Heirs Insurance Group saying, “we have championed digital transformation

to ensure our customers not only find insurance accessible but also experience a level of service that aligns with their expectations.” With the theme, “Technology as a critical driver of growth and transformation in the Nigerian insurance landscape,” the forum had in attendance the Commissioner for Insurance, Mr. Sunday Thomas; Group MD/CEO, United Capital plc, Peter Ashade; MD/CEO, Heirs General Insurance, Wole Fayemi; Professor Olayinka David-West, and other executives from the Nigerian financial industry.

NITDA: We’ve Started Partnering MDAs, Private Sector to Train 3M Youths Sunday Aborisade in Abuja TThe National Information Technology Agency (NITDA) said it had unfolded a comprehensive strategy to equip three million young Nigerians on digital Technology within the next four years. The Director General of NITDA, Kashifu Abdullahi Inuwa, stated this at the Public Sector Digital Innovation Summit Organised by DataMellon AWS (Amazon Web Services) in Abuja on Thursday. Inuwa, who represented by the Acting Director,

E-Government, Development and Regulation at NITDA, Mr. Bernard Ewah, said the agency was currently working with both the public and the private sector in that regard with a view to surpassing the target figure before 2027. He also said the agency was working with the various federal ministries, departments and agencies to ensure that their websites are not only functional but interactive. The NITDA boss said, “We set up, slightly over 20 years ago, to create opportunities like this for us as Nigerians to come together and have a

future of how we can participate in the technology or digital revolution.” The CEO Datamellon, Wale Adedeji, said the company is a digital firm dedicated to revolutionising the landscape of digital sector innovation. He said, “Our mission at Digital Melon is to empower government and organization with cutting-edge technology enabling them to serve their citizens better, faster and smarter. In the digital age data is the new currency. This is the oil. No, it’s the currency that we spend these days.”

Popoola: Technology can Foster Growth of Capital Markets Chief Executive Office, Nigerian Exchange Limited (NGX), Temi Popoola has said that technology has laid a foundation for the development of capital markets not only in Nigeria, but in Africa. He said this while speaking at the West Africa Capital Market conference held in Eko Lagos. On the panel themed, “Digital Transformation and Infrastructure Development: Leveraging Technology Growth in ECOWAS Region,” Popoola stressed that

technology can serve as a good building block for innovation in the capital market. He said, “In December 2021, we had a landmark transaction through technology. It was a secondary share sale in our capital market. It was the first time in the history of our market where on a mobile phone end to end, shares could be bought by retail investors. “Two weeks ago, with Second Stax- a Ghana based company,

we facilitated the first ever transaction across borders in a Nigeria - Ghana bilateral trade.” The NGX CEO said that these examples of technological innovation in the Nigerian bourse demonstrate how critical digital innovation can facilitate capital market growth.” Earlier, the Chief Digital Officer, NGX, Olufemi Oyenuga made a presentation on how the NGX has been utilizing digitalization to drive the operations of the exchange.

Bello, Onyema, Others for City Business News Summit All is now set for the City Business News Summit scheduled to hold November 8, 2023 at Oriental Hotels, Lagos State. Expected at the Business Summit titled: “Repositioning Nigerian Economy: 2023 And Beyond,” are financial experts, regulators, Industrialists, among others. A statment issued at the weekend by City Business News Online Publisher, Moses Ebosele, explained that the Summit will be chaired by former Executive

Secretary, Nigerian Shippers Council (NSC), Hassan Bello, OON. According to Ebosele, Group Managing Director and Chief Executive Officer, Nigerian Exchange Group Plc, Oscar N. Onyema, OON, is scheduled to give the keynote address. The Executive Vice Chairman (EVC), Nigerian Communications Commission (NCC), Dr Aminu Maida is scheduled to make a presentation centered round the theme of event,

focusing on “Repositioning Nigerian Economy Through Telecommunications: 2023 and Beyond”. Ebosele explained that Director/Chief Executive Officer, Centre For The Promotion Of Free Enterprise, Dr Muda Yusuf is the Guest Speaker, while Pharm. Khadijat Ifelola Sheidu-Shabi, Chairperson, Women in Logistics and Transport (WiLAT) Nigeria and a Fellow of the Nigerian Institute of Shipping (FNIS) is the Special Guest.

How Pension Funds Boost Infrastructure Financing in Nigeria … N672.1bn invested in real estate properties, SUKUK, others Under the Contributory Pension Scheme (CPS), pension funds have emerged as a formidable force in addressing the infrastructure financing gap in Nigeria, providing essential support for the development of vital projects throughout the country. As pension funds increasingly establish themselves as a viable alternative source of infrastructure funding in Nigeria, they play a pivotal role in stimulating economic growth and addressing the nation’s urgent infrastructure requirements. As of September 2023, pension funds have channelled N672.1 billion to finance infrastructure projects in the country. The breakdown of the amount indicated that PENCOM DG, Aisha Dahir-Umar N261.79 billion has been committed to accountability and governance. The requirements investments in real estate properties, reflecting a strong focus on set by the revised Regulation on Investment of this sector to bolster national infrastructure. Pension Assets in infrastructure funds/assets Also, N136.03 billion has been invested in the include: Having Audited financial statements, Infrastructure Funds, demonstrating a keen predefined liquidity/exit routes and the dedication to supporting vital infrastructure presence of experienced infrastructure financing initiatives. N154.76 billion has been strategically professionals. The requirements are all geared allocated to SUKUK Bonds, a critical financial towards enhancing the safety of pension funds. Investing pension funds in infrastructure has instrument for infrastructure development. N98.55 billion has been invested in Green Bonds, gained considerable traction as countries seek underlining the commitment to environmentally innovative ways to fund and support essential sustainable projects. In addition, N20.97 billion development projects. With their long-term has been invested in Real Estate Investment investment horizon and significant asset base, Trusts (REITs), aligning with the overall pension funds are increasingly recognized as strategy to boost infrastructure financing. These ideal partners for financing infrastructure substantial investments collectively signify a ventures. Globally, various countries have proactive approach to enhancing the nation’s implemented regulatory reforms and policies to facilitate pension funds’ participation in infrastructure with pension funds. The Pension Reform Act of 2014 (PRA 2014) infrastructure investments. By allocating a and the revised Regulation on Investment of portion of their portfolios to infrastructure assets Pension Assets issued by the National Pension such as roads, bridges, energy facilities, and Commission (PenCom) laid the foundation for this public utilities, pension funds aim to achieve transformation by permitting pension funds to attractive risk-adjusted returns while contributing invest in infrastructure assets. These investments to their nation’s economic growth and social take shape through various financial instruments progress. Through prudent risk management and vehicles, including Infrastructure Funds, and collaboration with public and private Real Estate Investment Trusts (REITs), Private stakeholders, pension funds have become vital contributors to bridging the infrastructure Equity Funds, and SUKUK. The revised Regulation on Investment of finance gap and creating sustainable, resilient Pension Assets has opened new avenues for infrastructure for the benefit of present and pension funds to channel their investments, future generations. In Nigeria, despite the positive momentum, establishing them as essential participants in the country’s infrastructure development landscape. some challenges persist. Concerns about longUnder the revised regulations, pension funds term political commitment and uncertainties can only invest in Infrastructure Funds that surrounding investment opportunities continue have up to 60% of their investments within to pose hurdles for Pension Fund Administrators Nigeria, ensuring a substantial portion of funds (PFAs). To overcome these obstacles, PenCom is is directed towards domestic infrastructure collaborating with relevant government agencies and the private sector to create a conducive projects. One of the most noteworthy developments environment for infrastructure investments. The involvement of pension funds in is the allowance for pension funds to invest in government-issued infrastructure bonds and infrastructure financing marks a significant Sukuk bonds. This progressive step has paved milestone in Nigeria’s journey toward economic the way for financing infrastructure projects prosperity. The commitment of pension funds through debt instruments, offering stable to support infrastructure development will returns for pension funds while bolstering undoubtedly play a pivotal role in closing the infrastructure finance gap, ensuring the critical national projects. The primary objectives of pension fund realization of critical projects, and fostering investments in infrastructure are the safety sustainable growth in the nation. In conclusion, as pension funds assume a central and security of pension funds. Furthermore, maintaining sufficient liquidity is crucial to role in infrastructure financing, PFAs are guided meet pension obligations promptly, ensuring by the priorities of safeguarding pension savings retirees receive their benefits as scheduled. To and achieving fair returns on investments. By meet these objectives, pension funds invested harnessing the substantial pool of retirement in infrastructure adopt strategic asset allocation funds, Nigeria’s pension system is securing strategies that carefully balance risk and return. the future well-being of workers in retirement The revised Regulation on Investment while instigating transformative change in the of Pension Assets sets high standards for country’s infrastructure landscape.

T H I S D AY ˾ MONDAY, OCTOBER 30, 2023

BUSINESSWORLD

STATUS REPORT

Transcorp: Sustaining Profitability Amid Challenges Kayode Tokede

ransnational Corporation Plc (Transcorp) sustained its growth momentum in nine months ended September 30, 2023 amid the prevailing economic headwinds, including forex challenges, hike in inflation rate, among others. Publicly quoted conglomerate declared N26.16billion profit before tax in nine months of 2023, representing an increase of 25.4 per cent from N20.87billion reported in nine months of 2022, while profit after tax hits N22.74billion in nine months of 2023, an increase of 19.4 per cent from N19.04billio in nine months of 2022. The conglomerate with investments in the Power, Hospitality, and Energy sectors recorded N23.77billion profit before tax in its Power subsidiary, contributing about 90.8per cent to overall profit before tax in period under review against 94.4per cent in the corresponding period of 2022. The power subsidiaries of Transcorp that include Transcorp Power, Transafam Power are well-positioned to exploit available opportunities for growth. Transcorp Power holds a significant position as one of Nigeria’s foremost electricity generation companies, and it proudly possesses ownership of the esteemed Ughelli Power Plant. The group, however, recorded a commendable growth across all its major indices signposted by an impressive revenue of N128 billion in nine months of 2023, a growth of 33 per cent when compared to N96.2 billion in nine months of 2022, while operating income increased to N42.7 billion in nine months of 2023, an increase of grew by 36per cent from N31.5billion reported in nine months of 2022. The breakdown revealed that its Hospitality subsidiary reported N29.85billion in revenue, an increase of 31.78 per cent from N22.65billion reported in nine months of 2022. The hospitality business is made up of its direct subsidiary Transcorp Hotels Plc. (THP) and indirect subsidiaries, Transcorp Hotels Calabar Limited (THC), Transcorp Hotels Ikoyi Limited, Transcorp Hotels Port Harcourt Limited and Aura by Transcorp Hotels. Power subsidiary generated N98.18billion revenue in nine months of 2023, an increase of 33.4 per cent from N73.59billion reported in nine months of 2022, while revenue from Corporate centre of Transcorp generated N10.01billion revenue in nine months of 2023, a growth of 31 per cent from N7.64billion in nine months of 2022. The 33.4 per cent increase in Power subsidiary of Transcorp is coming on the backdrop of challenges of Gas and infrastructure in the sector, showcasing the group’s innovative and resilient business strategy.

COST OF SALES Cost of sales increased to N63.77billion in nine

months of 2023, an increase of 29 per cent from N49.55billion in nine months of 2022, to bring about N64.26 billion gross profit in nine months of 2023 from N46.7 billion reported in nine months of 2022. The group’s CoS/Revenue dropped to 49.81 per cent in nine months of 2023 from 51.48 per cent in nine months of 2022. Natural gas and fuel costs contributed N44.52billion to the group’s cost of sales in nine months of 2023 from N35.59billion reported in nine months of 2022. The group’s administrative and general expenses stood at N23.25billion in nine months of 2023, representing 45.5 per cent increase from N15.98billion in nine months of 2022, coming on the backdrop of double-digit inflation rate and weaken of Naira at the foreign exchange market. From the profit & loss figures, about N6illion “other operating expenses” in nine months of 2023 from N3.29billion in nine months of 2022 and management and incentive fees of about N3.7billion in nine months of 2023 from N2.06billion in nine months of 2023 were the key drivers of the group’s administrative expenses. Transcorp’s operating profit closed the period under review at N42.74billion in nine months of 2023, an increase of 35.6per cent from N31.52billion reported in nine months of 2022. Finance cost hits N19.43billio in nine months of 2023, a growth of 69.2 per cent from N11.49billion in nine months of 2022. Transcorp’s foreign exchange loss on borrowings stood at N6.1billion in nine months of 2023

from N1.05billion in nine months of 2022 and N13.34billion interest expense on loans in nine months off 2023, an increase of 28 per cent from N10.44billion in nine months of 2022, responsible for 69.2 per cent growth in finance cost. Finance income, however, closed nine months of 2023 at N2.86billion from N828.97million in nine months of 2022, representing an increase of 245per cent. In addition, Basic Earning Per Share increased to 36.41kobo in nine months of 2023 from 21.93 kobo in nine months of 2022.

DIVESTMENT BOOSTS BALANCE SHEETS The groups’ investment in Power, other critical sectors boost the group’s total assets that gained eight per cent from N442.7 billion in 2022 full year to N479.8 billion as of September 30, 2023. As Non-current assets stood at N352.76billion as of September 30, 2023 from N340.83billion in 2022 FY, current assets hits N127.06billion as of September 30, 2023 from N101.9billion in 2022FY. Transcorp’s total liabilities gained 4.16 per cent to N299.91billion as of September 30, 2023 from N287.93billion in 2022. Consequently, total liabilities contributed 62.5per cent to total assets in nine months of 2023 from 65.04per cent in 2022. Current liabilities was at N204.97billion as of September 30, 2023 from N200.15billion in 2022, as non-current liabilities stood at N94.94billion as of September 30, 2023 from N87.78billion in 2022FY.

In addition, Transcorp closed nine months with N179.92billion, representing an increase of 16.2 per cent from N154.77billion reported in nine months of 2022.

MANAGEMENT’S OPTIMISM The group’s stock has appreciated by 450.44 per cent Year-till-Date to N6.22 per share as of September 27, 2023 from N1.13 per share it opened for trading in 2023. The President/Group Chief Executive Officer, Transcorp, Dr. (Mrs) Owen Omogiafo, expressed enthusiasm and confidence in the Group’s performance trajectory. According to her, “Our Group, with our diverse investment in power, hospitality, and energy sectors has reported remarkable results, demonstrating resilience and agility in the third quarter of 2023 amidst the prevailing economic headwinds, including forex challenges, Naira devaluation, gas challenges, and rising inflation.” “We remain agile, constantly exploring dynamic ways to maintain value for all our stakeholders, and focused on driving sustainable growth, improving lives, and transforming Africa.” asserted Omogiafo. Transnational Corporation Plc (Transcorp Group) is a publicly quoted Conglomerate with a shareholder base of approximately 300,000. The Group’s diverse portfolio comprises strategic investments in the Power, Hospitality, and Energy sectors. Among its notable businesses are Transcorp Hilton Abuja, Transcorp Hotels Calabar, Transcorp Power, Transafam Power, and Transcorp Energy.

ENL Consortium Inks Deal with China’s Lianyungang Port Holding Nigeria’s leading terminal operator, ENL Consortium Nigeria Limited has signed an agreement with Chinese port operator, Lianyungang Port Holding Group Limited, to deepen investment at the Lagos Port Complex Apapa and boost trade between both countries. ENL Consortium is the operator of Terminals C and D at the Lagos Port Complex Apapa while Lianyungang Port Holding Group Limited offers terminal handling, modern logistics, port construction, and other services in China. The agreement between both companies was signed last Monday at the 6th China-Nigeria Logistics Line Supply Chain Platform Advanced Forum organised by Sinoma International Engineering Co., Limited in Lianyungang, Jiangsu province, China. The Forum was organised as part of activities to commemorate the 10th anniversary of China’s Belt and Road Initiative. Speaking during the agreement signing ceremony, the Executive Director of

ENL Consortium, Mr. Mark Walsh said, “As we reflect on the 10th Anniversary Development of the Belt and Road Initiative, it is pivotal to acknowledge the strides made in fostering international cooperation and enhancing the connectivity of global supply chains. The initiative has not only bridged the infrastructural gap across these two great nations but also facilitated economic growth and mutual development.” He said over the past 17 years, port concession in Nigeria’s maritime sector has been a journey of both triumphs and challenges. Walsh enumerated the gains of port concession to include enhanced port infrastructure, improved operational efficiency, job creation, and increased revenue generation. “However, the pains, such as initial resistance, regulatory hurdles, and security concerns, have taught us invaluable lessons and shaped our strategies moving forward,” he said. He said ENL Consortium has been at the forefront of

adopting innovative models in local transportation, refining port operation services, and enhancing the warehousing system to solve prevailing challenges and streamline operations. Walsh said collaboration, both local and international, is pivotal in harnessing Nigeria’s maritime potential. “Our partnership with esteemed organisations like Lianyungang Port Group Co Ltd and Sinoma International Engineering Co Ltd is a testament to the power of collective wisdom and innovation in empowering the Maritime Silk Road. “In 2018, ENL Consortium entered into a strategic partnership with Sinoma Cargo International, a Chinese logistics giant, to facilitate the evacuation of cargo from the Lagos Port Complex by utilising innovative barge solutions. This collaboration was aimed at alleviating the persistent gridlock on the port access roads in Apapa, thereby ensuring a smoother and more efficient cargo evacuation process,” he said.

GLOBAL FOOTPRINT…

L-R: Managing Director, Sinoma Cargo International Nigeria Limited, Xu Su; Professor Jinghui Tao of Nanjing University of Finance and Economics; Chairman, Sinoma Cargo Nanjing International, Ping Huang; Assistant to the President, Sinoma International Engineering Co. Ltd, Jun Liu; Chairman, Lianyungang Port Holding Group Ltd, Long Yang; Vice President, Lianyungang Port Holding Group Ltd, XinWen Wang and Executive Director, ENL Consortium, Mark Walsh during the signing of an agreement between ENL Consortium Nigeria Limited and Lianyungang Port Holding Group Ltd at the 6th China-Nigeria Logistics Line Supply Chain Platform Advanced Forum in Lianyungang, Jiangsu province, China… recently

Lagos Free Zone Wins Global Free Zones Awards Lagos Free Zone (LFZ), the first deep sea port-based private free trade zone in Nigeria has won Industrial Champion category of the Global Free Zones of the Year 2023 awards by the fDi Intelligence, a service from the Financial Times. The fDi Intelligence monitors global greenfield foreign direct investments across sectors. The award is in recognition of the leading industrial ecosystem provided by LFZ as a Special Economic Zone for manufacturing in Africa. According to the special report released by fDi Intelligence recognizing the world’s best free zones for FDI, LFZ was recognized as the inaugural winner of Africa’s

industrial champions category on account of its integration with a deep sea port that receives container vessels from around the world, creating new opportunities for manufacturers looking to export their goods. Managing Director at the Nigeria Export Processing Zones Authority, Dr Olufemi Ogunyemi, said; “We are deeply excited about this development and congratulate the Lagos Free Zone team for their efforts. This recognition further strengthens NEPZA’s commitment to driving the Renewed Hope agenda with free zones as the cornerstone of our approach to drive investments into the country. We will continue to provide a

conducive environment for businesses to thrive and contribute to our nation’s prosperity. We are excited about the opportunities that lie ahead”. In his remarks, the Chief Executive Officer, Lagos Free Zone, Dinesh Rathi described the award as a testament to the commitment of the promoters to attract global manufacturers by providing a world-class industrial ecosystem and thereby create employment opportunities for Nigerians. Rathi noted that the company is extremely delighted at the recognition and would continue to take giant steps that would attract both local and foreign investments in the manufacturing sector.

MONDAY OCTOBER 30, 2023 • T H I S D AY

MONDAY, OCTOBER 30, 2023 • T H I S D AY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 26Oct-2023, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.02% Anchoria Equity Fund 180.11 182.53 24.26% Anchoria Fixed Income Fund 1.24 1.24 0.67% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 28.92 29.79 31.77% ARM Discovery Balanced Fund 636.97 656.17 22.20% ARM Ethical Fund 51.25 52.79 13.60% ARM Eurobond Fund ($) 1.16 1.16 3.35% ARM Fixed Income Fund 1.15 1.15 3.96% ARM Money Market Fund 1.00 1.00 9.07% ARM Short Term Bond Fund 1.05 1.05 1.65% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 97.65 97.65 7.60% AVA GAM Fixed Income Naira Fund 1,137.49 1,137.49 6.49% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn 1.04 1.04 6.71% CardinalStone Fixed Income Alpha Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 0.00% Paramount Equity Fund 23.87 24.35 38.74% Women's Investment Fund 188.08 190.95 36.27% CHD Nigeria Bond Fund 100.65 100.65 12.44% CHD Nigeria Dollar Income Fund 1.02 1.02 11.21% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.87% Cordros Milestone Fund 156.74 157.73 22.25% Cordros Fixed Income Fund 109.43 109.43 9.97% Cordros Halal Fixed Income Fund 110.43 110.43 11.52% Cordros Dollar Fund ($) 113.28 113.28 6.21% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn 1.00 1.00 9.51% Coronation Money Market Fund 1.43 1.44 25.62% Coronation Balanced Fund 1.39 1.39 2.27% Coronation Fixed Income Fund EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 13.17% Emerging Africa Bond Fund 1.09 1.09 10.06% Emerging Africa Balanced Diversity Fund 1.25 1.25 27.22% Emerging Africa Eurobond Fund 106.25 106.25 5.65% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1515.04 1515.04 11.52% FBN Balanced Fund 249.34 251.57 35.55% FBN Halal Fund 130.69 130.69 12.73% FBN Money Market Fund 100.00 100.00 10.11% FBN Dollar Fund 122.25 122.25 7.45% FBN Smart Beta Equity Fund 225.96 228.83 50.04% FBN Specialized Dollar Fund 109.86 109.86 9.53% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 7.76% Legacy Debt Fund 3.55 3.55 -0.58% Legacy Equity Fund 2.58 2.63 28.85% Legacy USD Bond Fund 1.31 1.31 4.35% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund N/A N/A N/A Coral Income Fund N/A N/A N/A Coral Money Market Fund N/A N/A N/A FSDH Dollar Fund N/A N/A N/A

GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Guaranty Trust Money Market Fund N/A N/A N/A Guaranty Trust Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Guaranty Trust Equity Income Fund (VEIF) N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.82 1.85 13.81% Lotus Halal Fixed Income Fund 1,189.02 1,189.02 8.74% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 16.32 16.45 39.79% Meristem Money Market Fund 10.00 10.00 11.47% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.63 102.63 11.92% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.49% Norrenberger Dollar Fund (NDF) ($) 102.56 102.56 11.69% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 2.07 2.12 31.63% PACAM Fixed Income Fund 11.88 12.06 6.97% PACAM Money Market Fund 10.00 10.00 11.72% PACAM Equity Fund 2.48 2.50 74.35% PACAM EuroBond Fund 128.36 131.21 15.13% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital The Frontier Fund 161.52 166.26 28.49% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.09 1.09 10.03% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 4,653.50 4,690.39 37.27% Stanbic IBTC Bond Fund 254.83 254.83 8.18% Stanbic IBTC Ethical Fund 1.90 1.92 51.59% Stanbic IBTC Guaranteed Investment Fund 347.55 347.68 11.01% Stanbic IBTC Iman Fund 366.87 371.32 57.08% Stanbic IBTC Money Market Fund 1.00 1.00 9.68% Stanbic IBTC Nigerian Equity Fund 16,902.85 17,110.38 54.82% Stanbic IBTC Dollar Fund (USD) 1.45 1.45 11.91% Stanbic IBTC Shariah Fixed Income Fund 126.79 126.79 8.45% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 123.91 123.91 16.48% Stanbic IBTC Absolute Fund 4,920.46 4,920.46 15.66% Stanbic IBTC Aggressive Fund 4,893.22 4,953.40 75.98% Stanbic IBTC Conservative Fund 5,082.01 5,105.06 33.54% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.23 1.25 35.27% United Capital Balanced Fund 1.72 1.73 32.43% United Capital Wealth for Women Fund 1.33 1.34 23.75% United Capital Sukuk Fund 1.15 1.15 11.09% United Capital Fixed Income Fund 1.92 1.92 6.55% United Capital Eurobond Fund 123.14 123.14 5.60% United Capital Global Fixed Income Fund 1.07 1.07 8.38% United Capital Money Market Fund 1.00 1.00 9.61% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 18.01 18.22 30.02% Zenith ESG Impact Fund 21.34 21.57 35.05% Zenith Income Fund 25.09 25.09 6.52% Zenith Money Market Fund N/A N/A N/A VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 6.96 7.06 72.63% Vetiva Consumer Goods Exchange Traded Fund 11.46 11.56 95.32% Vetiva Grifﬁn 30 Exchange Traded Fund 24.10 24.30 36.09% Vetiva Money Market Fund 1.00 1.00 9.14% Vetiva Industrial Goods Exchange Traded Fund 27.44 27.64 37.13% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 147.83 149.83 -6.26%

REITS NAV Per Share

Yield / T-Rtn

124.04 55.66 101.33 9.88

9.00% 4.98% -13.49%

Bid Price

Offer Price

Yield / T-Rtn

19.98 440.00 423.50 17.40 16.40

22.08 440.00 423.50 17.50 16.50

35.47% 241.83% 319.93% 49.32% 75.59%

NAV Per Share

Yield / T-Rtn

108.40

0.00%

Fund Name

SFS REIT Union Homes REIT Nigeria Real Estate Investment Trust UPDC REIT

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

I N F R AST R U CT U R E F U N D Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

MONDAY OCTOBER 30, 2023 • T H I S D AY

T H I S D AY ˾ MONDAY, OCTOBER 30, 2023

HOMES&DESIGN

Pacific Lagos: Unveiling the Work-Live-Play Towers The Pacific Lagos is a 14-storey twin tower designed as a truly luxurious lifestyle facility in Victoria Island, Lagos, by Global Property Partners (GPP), a commercial and residential real estate development firm. It is promoted by Cavalli Business and Investment Group, with Emmanuel Odemayowa as the Chief Executive Officer. Bennett Oghifo writes

he Pacific Lagos, a fine piece of real estate, is strategically located on Ozumba Mbadiwe Road in Victoria Island, a central business hub of the historically rich and culturally diverse city of Lagos. Its magnificent, modern, and classic architecture echoes the spirit of a vibrant urban neighbourhood with breathtaking views of the Lagos Lagoon. Ozumba Mbadiwe Road is known for hosting several architectural masterpieces in Lagos. “Our Villa will join the ranks as one of the best architectural pieces in Lagos with its top-notch aesthetical design conceived by one of Nigeria’s architectural great minds,” said the Chief Executive Officer of Cavalli Group, Emmanuel Odemayowa, at the exquisite project’s groundbreaking. The Pacific Lagos would provide a ‘work, live and play’ environment “comparable with the best internationally,” as its concept came from mixed-use developments in some of the world’s leading economies. He said the group had completed various real estate projects across Lagos. The Pacific Lagos was a product of many years of

research, brainstorming, and planning towards building “a vertical mixed high-rise structure” that would meet the diverse lifestyle needs of its residents in terms of convenience, access to the commercial nerve centres of Lagos, and premium facilities. Odemayowa also said the proposed high-rise project was in line with the Cavalli Group’s vision of helping to reduce Nigeria’s severe housing deficit through the development of real estate conceived on international standards. The Pacific Lagos is a prestigious, distinct luxury tower with a unique blend of commercial, luxury residential, and play space development. It has commercial and exclusive hotel apartments and features three levels of parking space, a recreational floor, 10 suspended office space floors on the commercial block, and 12 floors of world-class one and two-bedroom hotel apartments on the residential block. The developer infused a recreational floor with a gymnasium, spa/massage, games room, shopping mart, restaurant, and bar. There is a terrace sit-out for

outdoor viewings. There are 10 floors of ultra-modern open office spaces; three floors (ground floor, first and second floors) are exclusively designed as car park zones. According to the promoters, the Pacific Lagos is designed for premium, exclusive taste. It guarantees value at a unique upscale location, generous parking spaces, breathtaking landscaping, ultra-modern elevators, and acoustic space planning for noise control. There are 10 floors of premium and functional office spaces with unique architectural designs; luxurious amenities and flexible layout with best-in-class interior designs; ultramodern facilities designed for optimal efficiency, functionality, and comfort; open-plan office design combined with structural capability, quality craftsmanship, and functional layout. Residential space has world-class one and two hotel apartments, classic living room and dining area, fitted designer kitchens (with appliances, cabinetry, and accessories), beautiful floor designs finished with a combination of marble and high-quality tiles, and

top-grade quality bathrooms. Recreational facilities on the third floor will delight residents- this floor is where all the fun happens. The facilities, including a large terrace space for outdoor relaxation, are guaranteed to make both office and residential occupants feel at home. It is uniquely designed, and well-positioned windows on the floor allow for optimal ventilation and panoramic views of Victoria Island, Ikoyi, and Lagos Island. “This floor is equipped with a gym, restaurants, swimming pool, bars, shops, generous spaces for indoor games, and all you need to relax and enjoy because you truly deserve the best,” Odemayowa noted. Also launched was the Pacific Mutual Investment Plan, a product GPP said it introduced to offer flexible investment options for The Pacific Lagos from as low as N10 million. The projected completion period for The Pacific Lagos is 36 months (2022). Investors were assured that the GPP had financial arrangements to meet this target date, but nobody factored in the COVID-19 pandemic.

MONDAY, OCTOBER 30, 2023 ˾ T H I S D AY

BUSINESSSPECIAL

Editor: Obinna Chima obinna.chima@thisdaylive.com 08024557078

Olowoye: Quality Education, e-Learning Recipe for Africa’s Transformation

Dr. Gbenga Olowoye is the Chairman of iklass.africa, a startup in E-learning for children and young students in Africa. He founded Swissplat Group LLC in Geneva, Switzerland in 2021 to address unique demands in global sourcing, market expansion services, and inward investments. Given the challenges that COVID-19 posed to global business transactions, Swissplat has evolved as a trusted business partner for enterprises seeking to do global business. Olowoye previously taught entrepreneurship and corporate strategy courses at UBIS University in Geneva and its satellite campuses, as well as managing the university’s African business development portfolio from 2014 to 2016. He is a published author on entrepreneurial innovation and funding sources in resource-constrained environment topics. In this interview with Obinna Chima, he spoke about how to transform education in Africa. Excerpts: What is your take on the state of education in Africa? Can you also tell us about your iklass.Africa initiative? popular quote inscribed at the main gate of a prominent university in Sub-Saharan Africa sums this up. It reads: “Destroying any nation does not require the use of atomic bombs or the use of long-range missiles…It only requires lowering the quality of education … The collapse of education is the collapse of the nation.” My goal is to provide children and young students in Africa with access to quality education through E-learning, it is also about the future of nations. I have investigated lessons and best practices in developing capacities for learning initiatives and how resources can impact service quality in education delivery within African contexts in my Master’s and Doctorate degrees’ thesis and dissertations, which provided useful baseline information in developing the E-learning project. This insight helped me to develop a successful approach for the iklass.Africa initiative. With a persistent teacher shortage in many African nations, where there is one certified teacher for every 43 pupils in secondary schools, E-learning remains a feasible choice for assisting learning. While a few firms are already taking the bull by the horns in providing this service, various initiatives are now needed to join the E-learning digital ecosystem across Africa following interruptions to the educational system caused by the COVID-19 outbreak. All African children require access to education that will equip them for profitable careers in science, technology, engineering, and mathematics, commonly referred to as STEM fields. That is without a doubt, the next best advantage. As a Diaspora Nigerian professional in Switzerland, this is a legacy project for me, demonstrating how the power of education can have a significant transformative effect on the next generation. My mother, late Madam Esther Arinola Olowoye, became a widow at the age of 35, leaving her with six children to care for. This occurred in an African country (Nigeria) in 1971 with no social welfare system in place, where women and children were defenseless (sadly, this is still the situation in 2023), and it looked like Esther’s life and the lives of her six children were doomed. I feel that education is life and liberating, and iklass.Africa will make it available for countless number of children in honour of Mama Arinola Olowoye.

that our young people are not treated as second-class citizens in their own nation just because the Chinese, Europeans, and Americans are investing billions across the continent. The team believes that increasing access to high-quality online audiovisual content can enhance educational outcomes for an increased number of children and young people. They will be excellent leaders if they learn well. I am calling on all people of good will to join forces with me and my team, particularly parents, schools, government parastatals, and key stakeholders, to ensure that the iklass.Africa platform gains momentum in Nigeria.

So, how do you think technology can improve learning outcomes in the continent? vAfrica should become a part of the business of every African who has benefited in some way from Africa. The beauty of the modern day is that we can use technology to solve many of the

Olowoye problems that people in Africa face. I feel immensely lucky today because of Nigeria where I had the best possible education in the 1960s, 1970s, and 1980s nearly for free. I was even more privileged to have met my wife who has been working for the United Nations as an esteemed professional for about 20 years, while we were university students together in Nigeria and we have been married for thirty years. I am happy to have been able to raise the necessary seed capital to launch iklass. Africa. Africa, like the rest of the world, has to make technological leaps for the benefit of its young children. What iklass. Africa does differently as a co-created student-centric learning platform is to harvest the collective wisdom of students, parents, partner schools, sponsors, and other important stakeholders in education in order to develop one of the best innovative and affordable online educational platforms that will benefit our children and young students anywhere in Africa and globally. It is also quite inspirational to consider that all the young tech professionals and support staff who have worked relentlessly to create the platform are Africans. We know that Africa is on the rise as we can all attest to, but we must guarantee

So, what role is iKlass playing in deepening e-learning and education in Africa? I noticed that there are barriers to education in resource-constrained environments endemic in many developing countries, particularly those in Sub-Sahara Africa, while consulting for schools in Tanzania between 2006 and 2014. The desire to establish an E-learning platform for Tanzanian students was initially conceptualised in 2013, but despite our best efforts, we were unable to provide it at the time owing to limited internet bandwidth, which made streaming audiovisual content difficult. Things are different now, though, since improved internet access has been implemented in several nations across Africa. The Ebola and Covid-19 pandemics provided the final motivation to raise a new team of young Africans based in Nigeria and Tanzania who have worked steadfastly to deliver the mobile learning application, iklass. africa, that is set to join the digital ecosystem in Africa to widen access to education for children without any restrictions. How affordable is your solution? It must be stated once more that iklass. Africa will be one of the most accessible and cheap learning platforms for children and young students in Africa as a legacy initiative in honor of his late mother, a unique African amazon. To fulfill this commitment, iklass.Africa is at the moment onboarding students to utilise the site for free during the ongoing launch phase. We have also lined up several experienced teachers from selected African countries to help in creating the quality audiovisual content needed to make the learning platform a highly engaging online learning environment. We cannot do it alone at this time to pay all the webmasters, teachers, content editors, multimedia specialists, and several

support staff. That is why we need the help of partners and investors that want to make Africa a wonderful place for the future of our children. Finally, your advice to the present administration in Nigeria on how to improve education? The list is endless, but based on his past study on education service delivery in Nigeria, there are key high-level challenges that must be addressed. The president of the Federal Republic of Nigeria should proclaim a state of emergency on education in Nigeria. Then, all stakeholders must be brought in to discuss how the country might negotiate resource limits in a climate fraught with unpredictability. The risk assessment and SWOT (strength, weakness, opportunities and threats) analysis should show where there is a need for education policy adjustment and iteration on how to make the education system competitive, unify institutional goals and direction, and bring clarity to brand messaging while producing an action plan to achieve the objectives for student achievement and school success in Nigeria. A long-term solution for improving budget sufficiency and service quality perceptions will eventually impact performance of educators and service delivery. Second, the Federal and State Ministries of Education, as well as other players in the education sector, must return to the drawing board and investigate new cutting-edge experimental techniques for modifying service provision and delivery in education in accordance with evolving technological advances. This should provide an accountability framework for the system that influences policy guidelines and eliminates the prevalence of inconsistent finance policies, dishonesty among institutional management, reporting, and stakeholder involvement. Third, there is an urgent need for value co-creation in Nigeria’s education and school administration systems. This notion of ‘town and gown’ might help restore the splendor of the public school system that many outstanding Nigerians in the diaspora benefitted from. The citizens must be encouraged to participate actively in the education of their children. In economics, buyers want the marketplace with the most competition among sellers that leads to the greatest availability of products and the lowest prices. It is sometimes called supply-side increasing returns and demand-side increasing returns. Schools, on the other hand, aid in the facilitation of learning transactions between learners and educators. To develop new criteria for teaching our children, it is becoming increasingly vital to understand citizens’ expectations and values. One such requirement has been identified as service quality. It is critical to assess if the network effects are effective, as indicated by satisfied educators and students.

Femi Soneye: As Passion Meets Engagement at NNPCL Sufuyan Ojeifo There has been a burst of excitement in the Nigerian media community since the management of the Nigerian National Petroleum Company Limited (NNPCL) announced the appointment of 49-year-old Mr. Femi Soneye as the company’s Chief Corporate Communications Officer (CCCO). By virtue of that significant appointment, Soneye becomes the company’s spokesperson; and, he is required to robustly drive its public communication plans and strategies to ensure that the company’s external publics, through

the media, are kept abreast of and apprised with issues of public interest around the operations of the national oil company. The good thing is that Soneye will be honchoing a department that is very resourceful and capacitated to provide him with the necessary support to confront the rising complexities occasioned by episodic advancement in technology in use and deployment of public communication in pushing through and explicating to the company’s external publics, its official positions on contending industry issues. In fact, what Soneye essentially brings to the job is a load of passion

that has, over the years of building media relations for brands across the public and private sectors, consistently driven his savoir faire and fidelity to efficient service delivery. In the connectedness or intercourse between experience and service delivery, Soneye has kept faith with those little things that matter in building a bank of social capital and obligatory goodwill that are inevitable in the province of media relations. In 2013, we had a chance meeting in Washington DC at an official assignment. There was exchange of pleasantries between us (a three-man

team from Nigeria) and Soneye, who had just celebrated the one-year anniversary of the publication of his online newspaper with headquarters in the United States of America: Per Second News (PSN). We had expressed our desire for Nigerian cuisine, especially pounded yam. He offered to drive us to Maryland to a Nigerian Kitchen where our culinary desire was taken care of. Soneye and I got closer the following day at the event proper, exchanged numbers and, on getting to Nigeria, he got in touch and I reciprocated his gesture. At the time, I was handling the media affairs of Chief Tony Anenih (now late) who

was then Chairman of the Board of Trustees of the Peoples Democratic Party (PDP). Soneye pragmatically deployed the PSN platform in publishing every material I sent to him without asking for any consideration in reciprocity. In the last ten years of our friendship, he has demonstrated a great sense of association, always reaching out to me. He has also always tapped my expertise as a media professional to achieve certain tasks in aid of his media support services for some institutional and individual brands. This peer “support and review” mechanism has been largely mutual. A man of big ideas, Soneye

reaches out to seek ways in which I could add value to ideas he is always fleshing up around reputation management. Imbued with a touch of Midas, he sees through his ideas and projects. If there was a glitch leading to failure, it would not be on account of him not having invested his best possible in the project; it has always boiled down to some shenanigans from the other side. I believe that the NNPCL job is one of the big ideas that Soneye had been working on in recent months or years. This can be explicated: on Continued on page 35

T H I S D AY ˾ MONDAY, OCTOBER 30, 2023

BUSINESS SPECIAL

INTERVIEW

Osman: Artiﬁcial Intelligence Transforming the World Rami Osman is the Director for Business Development, MediaTek Middle East and Africa. Osman has been working in the Middle East and Africa’s ICT industry since 2002, where he held a number of positions, the most recent of which is his current role at MediaTek - a global leader in advanced Wireless and Consumer Electronics microchips, headquartered in Taiwan. In this interview he speaks about his company’s role in supporting the increasing demand to access to internet and online media, how MediaTek is bridging the digital divide, among others. Excerpts: 8IBU EP ZPV UIJOL JT UIF GVUVSF PG UFDIOPMPHZ HMPCBMMZ BT XF DPOUJOVF UP TFF FGGPSUT UP CMVS UIF EJWJEF CFUXFFO UIF QIZTJDBM BOE EJHJUBM XPSME UISPVHI BSUJmDJBM JOUFMMJHFODF "*T BOE 7JSUVBM 3FBMJUZ 73 ith the next generation of virtual assistants, we have started to see the connection between the physical and digital worlds. We now have text-based AI assistants. So, I think going forward more of these intelligence will go to the clients’ side. MediaTek next year will have some announcement about this, when we move from the stage of only cloud-based, text format AI interaction interactions that generate pictures and stuffs like that, to more like business, entertainment, hospitality with active AI generation on the clients’ side. I think starting next year, if the time is ripe, the platform suppliers will move their AIs from just the current status to better web-search and some virtual and writing services for all aspects of life. I think next generation of AI platforms on the cloud would better merge the physical and the virtual and make it a reliable experience.

and better and smarter IoT devices. Some of the new and advanced gym equipment have it and many of these devices are using MediaTek chip set for smarter interaction with the person who is working on the gym equipment daily. So, AIoTs are transforming lives and the world.

.FEJB5FL JT LOPXO GPS QPXFSJOH TNBSU QIPOFT XJUI JUT TZTUFN PO DIJQT /PX XF BSF TFFJOH NPSF .FEJB5FL QPXFSFE EFWJDFT MJLF TNBSU QIPOFT XFBSBCMF DPOOFDUJWJUZ BOE NPSF DBO ZPV UBML UP VT NPSF BCPVU .FEJBUFY QSPEVDUT We are a consumer electronics company; we are not a connectivity, mobility or media company. We started from media, which is where the name MediaTek came from. So, when started to listen and enjoy hundreds of MP3 sounds and USB sticks, the players were powered by our system. So, we kept leveraging and moving to new products. Osman So, what we learnt in the media space, we moved to TVs and what we learnt from TVs, we moved to global electronic devices every year. smart phones and what we learn in smart phones, we use in tablets and internet of things (IOTs). So, )PX JT .FEJB5FL BEBQUJOH UP FWFS DIBOHJOH there are three major categories of MediaTek products. UFDIOPMPHZ JOEVTUSZ BOE DBO ZPV TQFBL BCPVU The first, the legacy category includes the TVs and TPNF PG ZPVS UFDIOPMPHZ UIBU GPDVTFT PO set up boxes. You know, like the DSTV in Africa, CSJEHJOH UIF EJHJUBM EJWJEF a big part of their service uses MediaTek chips in We have a smart feature phone that is coming their set up boxes, whether it is the basic set up to an operator in Africa. Smart feature phone box or the advanced over-the-top (OTT) set up box. is a bridge between feature phone and smart We have a lot of operators using our set up boxes. phone. There is always enhancement of different For TV, probably your TV at home is using a device operating system - touch screen or no touch from MediaTex, unless it is a model from Samsung screen, what is the price tag that will make or LG. That is because we have like 70 per cent of the 2G guy jump from a $7 phone to a $20 the TV market globally and most of the android phone, instead of jumping to a $30 phone. TVs use MediaTek. If you move towards computing, The smart feature phone continues and we the computing leader globally is Intel, because of are doing something with one operator in their dominance with Microsoft for a long time. In November. In terms of bridging the digital Chromebook, we are the largest globally. dividend, it is about mobility and access as Chrome is Google’s android for the laptop or well as finding that proposition as low as hybrid or notebook forum factor. If this category possible close to the 2G phone, to enhance progresses, we would progress. There are limitations migration and connect more people to the on the progress of this category, especially with the internet. If you talk about other aspects of huge success of the Macbooks and now corporates life and digital inclusion, you also have to are limiting their employees to the Windows platform. factor in commercial transactions. Kenya has But, we think that sooner or later, we would have been leading with mobile payments. MediaTek processing chipsets. More or less of the But that has to do with mostly using legacy same platform is used for tablets, Chromebook and system like the SMS. In Nigeria and other smartphone. places in Africa, start-ups are coming up But of course, a smartphone has much wider range with different payment platforms that are and we are the world’s largest chips supplier for affordable, secured and flexible. If you go to smartphones and Android, since 2019. Talking about MCDonalds in Dubai, you can make orders media, computing and mobility and then talk about through electronic terminals and you can the next generation like 5G connectivity IOTs, are make payments using an Andriod point of some of the new things that MediaTek is working sale (PoS) terminals. But, that is understood on. Like I said, we power a greater percentage of because it is an advanced market. But when

you go to rural African communities and meet people selling mangoes who are not able to utilise their trade fully because of the problems associated with cash and she doesn’t have a bank account. How do you service those millions of SMEs and unbanked merchants using the new ideas and fintech companies in Africa? MediaTek is supplying them with very affordable, unique and secured payment terminals. )PX JT .FEJB5FL JODPSQPSBUJOH "*T JOUP *05T UP TVQQPSU UIF DVSSFOU USFOE UIBU JT FYQBOEJOH UIBU NBSLFU Actually, MediaTek was the first company that started talking about Artificial Intelligence of Things (AIoTs). If you look at many electronic companies, if you check their products, they have ranges of AIoTs. When we started with AIoT, people mocked it and said it was complicated, that they barely understood IOT and we were already talking of AIoT. But it is picking up. AIoT is about making the IoT or the smart machine talking to each other. It is about machines talking to each other with a controller and a low level operating system. It can only do what the programmer tells it to do. AIot, for example, we have couple of customers, such as Amazon, who have developed home appliances with the camera that can study cooking appliances and visual status of the dish. That is just little of what the new home appliances with AIoT can do. IoT devices with some AI, then you get machine learning

* XJMM MJLF UP TQFBL BCPVU ZPVS SFDFOU FWFOU ZPV IBE JO %VCBJ BOE BMTP XIBU EP ZPV JOUFOE UP BDIJFWF XJUI ZPVS QBSUOFSTIJQ XJUI "JSUFM We try to keep touch with the media in big markets every year. So, we did the global conference. In Dubai, it was a physical event. In Dubai, we invited the press from all the key markets which includes Turkey, Pakistan, UAE, Saudi Arabia, Egypt, Kenya, Nigeria and South Africa, and we showcased our technologies and our recent projects, especially the ones in 2023. We focused on regional successes and we showed some devices made from the region. There is a manufacturing industry in Pakistan, Turkey, Egypt and design industry in South Africa. We hope that more and more manufacturing and designs can come from the region. So, we invited the media to see for themselves because it will be very difficult for the media to connect with these things if they don’t understand them. They would think it is impossible to manufacture or design anything outside of China. There is a big misunderstanding from the media side. The consumer does not have to understand how the supply chain works, but the media needs to, especially since after the Covid-19. So, inviting the media to show them and talk to them about how the design works was important. Talking about Airtel, MediaTek is a global supplier, so we work with everybody. But for purpose of optimising the technology, we do like to work closer with the operator, so that the user can get good experience from the commercial device. You are not buying the device from Media Tek, it is not a MediaTek branded device and you are not running it on a MediaTek network. There is no such business model, not even Apple offers that, we have to work with each other. The chip set is from me, the design of the board, the software and operating system is from Google and it is manufactured by probably a Chinese company and all these work seamlessly on one operator in Nigeria. If Africa is close to 50 countries, each country on the average has three telecom operators. So, Africa has 150 telecom operators and so it is impossible to test with all. So, we select the leaders. For example, in this territory, Airtel seems aggressive and working and cares for the optimisation. Not all operators care for the optimisation and not all telecom companies want to work with a chipset company to test Wi-Fi and to test cellular connection. All the suppliers like Samsung, OPPO and the factories that make the router are all our customers in Asia. We work as a reliable bridge to the manufacturers. Any new technology, be it fintech, tracking for vehicles or routers, company like Airtel will leverage our knowledge of the supply chain. That is because nobody understands the electronic supply chain like the chip set companies. It is like the main ingredient in a meal. If you to make an electronic device, the first thing is the chip set. The manufacturers of battery, plastic component, memory, display, everything, are controlled by the chipset and any company like Airtel will leverage our solutions.

FE M I SO N EY E : AS PAS S I ON MEETS ENGAG EM E NT AT NNPCL Continued from page 38

a number of occasions, I had seen how consistently he had intervened in providing positive reportage of the activities of the NNPC, particularly through the transition to NNPCL, using his Per Second News platform and many times using pseudonyms to syndicate positive narratives in other media organs. Remarkably, his coverage had cut across the entire gamut of the national oil company-providing, as it were, positive media focuses to the institution and individual leaders that superintended over the corporation then and those who are still in the saddle at the company. In that deliberate, conscious and planned intervention effort

to mollycoddle friends with the magnitude of his excellent media relations offerings, he had also built a robust goodwill for the NNPCL among his numerous media colleagues and their media organs. Soneye had quietly provided a link between a good number of online media publishers and the NNPCL who desired advert patronage. In this context, his transformation from being an external link to being a significant top member of management is both monumental and transcendental. It makes the interface much more seamless and one that ensures that media partnerships are easily consummated. Besides, with Soneye in the saddle, there is a new dawn of robust media relationship that is

becoming increasingly tangible-just because of his personality. Every media organisation which craves for pieces of information henceforth should rest assured that it would get responses unlike in the immediate past epoch when neither calls nor text messages were answered. Again, unlike many reputation managers or image makers who would either get involved in “media fisticuffs”, practically descending into the arena, in defence of institutional positions, Soneye has always advocated the pacific path, emphasised conciliation for better media relationship, and shown a great understanding and belief in the efficacy of engagements to achieve consensus ad idem or meeting of minds on issues that are conflictual.

He is always excited to win over more and more friends to the side of his “good ideas or causes” who then become the extended mouthpieces of the brands he promotes. Soneye’s brilliance and cosmopolitan nature do not predispose him to treat the other person with condescension. His simple mien and calm disposition underpin very largely his “Omoluabi” (a well-brought up son of Yoruba land and of Ijebu Igbo extraction) pedigree. Highly respectful, Soneye is also reputed for his consistent kindness, his catholic conviviality, his gift of the garb, and ease of making friends with high net worth. These, perhaps, find solid anchorage in his Christian faith through which he has received the divine grace to prosper.

As he resumes any moment from now at his desk in the massive belly of the behemoth that the NNPCL office structure and infrastructure typify, Soneye, without a doubt, will deliver on his assignment on the back of an unprecedented social bank of goodwill and support from media professionals- his colleagues- who are well pleased in him. His media constituency is united behind him to assist in the delivery of his mandate(s). That external media tension has been taken care of. The only other tension that he may have to deal with is internal, that is within the top echelon of the management of the NNPCL and this may border on the shape, texture, contents and context of information flow to the media. He will be expected to do

some processing of information and flow to the external publics through the media to provide appropriate guidance as to the theme of every communication endeavour. In rounding off, I posit that Soneye’s pick is in apple pie order and his passion for the job is in a warm embrace with the platform of engagement that the national oil company has offered him. A cornucopia of goodwill, support and prayers is readily available for the NNPCL’s “Seriki Magana” or if you like the “kakaki”! More power to Soneye’s elbows as he continues with what he had hitherto been doing from the outside. t 0KFJGP KPVSOBMJTU BOE NFEJBQSFOFVS JT CBTFE JO "CVKB BOE DBO CF SFBDIFE WJB PKXPOEFSOHS!ZBIPP DPN

MONDAY, OCTOBER 30, 2023 T H I S D AY

BUSINESS/MONEYGUIDE

Access Bank Set to Reward Customers in Xtrawins Transact and Win Campaign Nume Ekeghe Access Bank is set to reward existing and new customers with millions of Naira and mouth-watering freebies in the “Xtrawins, Transact and Win”, campaign. The bank in a statement said the campaign has commenced and will run till December 31st, 2023. Speaking at the launch of the campaign in Lagos recently, Group Head, Consumer Banking, Access Bank, Njideka Esomeju, said that the campaign was aimed at appreciating customers for their patronage, and in line with the Bank’s reward campaign objectives. She said: “This campaign focuses on expressing gratitude to our valued customers for their patronage, especially as we have seen a significant

rise in engagement and the use of exciting features and services on the AccessMore mobile app. “In the spirit of the season, we are going to reward our lucky active customers with up to N250,000 each in our weekly or monthly jackpot when they perform 5 transactions or more using the AccessMore app or our USSD code *901#. They will also enjoy a Zero charge when they pay for electricity and Cable TV bills using the Accessmore app. It is even more interesting when our customers book a flight with the app, they will receive a N10,000 cashback.” “We offer a wide range of exciting features on the AccessMore app to take care of their needs; Just a click on ‘Hire-a-Pro’, customers can hire vetted professionals like accountants, lawyers and

artisans like tailor, mechanic to meet their needs. Our thrift or ‘Esusu’ option helps you achieve that target savings with friends and family, and we also provide numerous lifestyle features for your convenience and enjoyment,” she said. Unit Head, Consumer Banking, Access Bank, Adaeze Umeh, said: “The ember months are here, and the season provides us with another opportunity to appreciate our customers for their loyalty and support for the bank. We value our customers and non-customers who depend on our services to carry out seamless banking activities and we wish them the very best of the season. Just fund and transact on your account and stand a chance to be rewarded,’’ Adaeze concluded.

L-R: Executive Director Human Resources, Haldane McCall Plc, Shola Ojunde; Executive Director , IT, David Emuloh; Geoup Managing Director, Edward Akinlade; Chairman, Board of Directors, George Oguntade (SAN), and Executive Director, Hotel, Abiola Elugbaju, during the Investors Forum, organised by Haldane McCall Plc in Lagos ...recently

MARKET INDICATORS

Haldane McCall Eyes NGX Listing by Introduction A leading company in the real estate and hospitality industry in Nigeria, Haldane McCall Plc, is warming up to join the league of quoted companies on the main board of Nigerian Exchange Limited (NGX) through Offer by Introduction in the first quarter next year. As a prelude to the historic listing, Haldane McCall has commenced preliminary documentations at Securities and Exchange Commission (SEC) and NGX. through its appointed parties to the listing. In a special presentation at the company’s Investors Forum in Lagos, the Group Managing Director, Mr Edward Akinlade, explained that Haldane McCall, had always operated on the strength of strategic growth, stellar returns, diversified portfolio and proven expertise. He said the company has a

strong board and management team that comprises topnotch professionals in diverse professional backgrounds. “We have gone far in our plan to list ensure that our Company is listed on NGX in the first quarter of 2024. We shall be listed by Introduction since we have complied with all the listing requirements of NGX. The listing will enhance the Company’s perpetuity and sustainability of returns and avail us more financing options in the future. We regard our shareholders as partners. We have generous dividend policy. Our company has capacity to collaborate with the government to bridge housing deficits in Nigeria. The Company intends to intensify its drive for sourcing and identifying viable investment opportunities in the

African emerging markets. The strategy among others is to buy existing hotels, invest, remodel and finally rebrand for optimality, “said Akinlade. Earlier in his welcome address, the Company’s Chairman, Board of Directors, Mr George Oguntade (SAN), explained that the time was ripe for listing of Haldane McCall on NGX to enable indigenous and foreign investors benefit from its superior return on investment. Oguntade urged investors to take advantage of the company’s unique characteristics . One of the Company’s Advisers and Chief Executive Officer, Professional Stockbrokers, Mr Dapo Adekoje noted that with its trajectory of good performance and policy of creating value for shareholders, the Company’s shares would be on high demand after the listing.

GOXI Microinsurance Set to Host First Annual Conference Nume Ekeghe Goxi Microinsurance, Nigeria is set to host the inaugural Microinsurance Conference, aimed at catalysing socioeconomic empowerment. The firm in a statement noted that they are committed to dedicated to breaking the barriers of poverty and enhancing the lives of its customers through innovative risk management solutions, and is taking a bold

step to advance the microinsurance sector. The first annual conference, a significant milestone in the industry, is scheduled to take place on Thursday, November 9, 2023, at the Radisson Hotel, Isaac John, Ikeja, Lagos, under the theme, “MicroInsurance as a Catalyst for Socio-Economic Empowerment.” Managing Director, Goxi Microinsurance, Sina Gbadegesin, expressed his enthusiasm about the company’s pioneering role

in uniting the microinsurance sector to provide enhanced services to the public. He said: “At Goxi Microinsurance, we firmly believe in the transformative power of microinsurance to uplift individuals and communities. Our inaugural microinsurance conference will serve as a platform to promote innovation and collaboration, which are vital for the growth and development of the microinsurance industry.”

Heroic Nigerian Children Win Dufil’s 2023 Scholarship Awards In a celebration of courage, resilience, and exceptional accomplishments, on October 29th, 2023, Indomie Instant Noodles Nigeria hosted another edition of its annual Heroes Awards, where the bravest and most valiant of young and teenage Nigerians received national recognition and acclaim for heroic displays of humanity. This year, three exceptional children have emerged as recipients in their respective categories: Social Bravery, Physical Bravery, and Intellectual Bravery. Helen Emmanuel from Ikot Usong, who stood up and fought for a 13-year-old girl that was molested and impregnated by her father in Akwa Ibom State is awarded as the Social

Bravery winner, Happiness Bassey from Ikot Usong, Akwa Ibom State awarded the Physical Bravery winner for stopping her mother from selling her younger brother and to Ferdinand Maumo, a differently-abled child with Spastic cerebral palsy who demonstrated an exceptional understanding of Chess through pattern recognition from Makoko, Lagos State as the Intellectual Bravery winner. They were picked by a distinguished panel of judges from an initial shortlist comprising 14 children for this year’s edition of the event. They got N1 million each for their heroism. Group Corporate Communications and Event Manager, Dufil Prima Foods Limited, Mr Tope

Ashiwaju, during the presentation of the awards in Lagos, said it was targeted at identifying and rewarding children whose heroic acts touched lives but were often ignored due to their age. “This event is significant because it is rooted in the recognition of those whose best efforts are very often overlooked by the society. On a daily basis, our beloved Nigerian children perform thousands of heroic acts at great personal risk to themselves. In 2008, we decided to take up the challenge by not only recognising these young heroes, but also providing them scholarship opportunities since their actions have touched lives in their immediate communities and beyond,” he noted.

MONEY AND CREDIT STATISTICS (MILLION NAIRA) August, 2023

Money Supply (M3)

65,445,154.2

-- CBN Bills Held by Money Holding Sectors

552,553.58

Money Supply (M2)

64,892,600.61

-- Quasi Money

40,870,301.28

-- Narrow Money (M1)

24,022,299.33

---- Currency Outside Banks

2,295,309.10

---- Demand Deposits

21,726,990.23

Net Foreign Assets (NFA)

7,144,158.92

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

87,273,966.81

---- Credit to Government (Net)

32,511,333.17

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

54,762,633.63

--Other Assets Net

13,347,376.27

Reserve Money (Base Money

19,429,603.25

--Currency in Circulation

2,660,138.92

--Banks Reserves --Special Intervention Reserves

16,769,464.34 428,519.21

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

August 2023

Inter-Bank Call Rate

3.89

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

18.75

Treasury Bill Rate

5.13

Savings Deposit Rate

5.26

1 Month Deposit Rate

7.31

3 Months Deposit Rate

7.55

6 Months Deposit Rate

8.30

12 Months Deposit Rate

8.13

Prime Lending rate

13.99

Maximum Lending Rate

27.59

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OPEC DAILY BASKET PRICE AS AT 29TH SEPTEMBER , 2023

The price of OPEC basket of thirteen crudes stood at $97.48 a barrel on Thursday, compared with $97.08 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ DAY, ͱͮ˜ ͰͮͰͱ

MARKET NEWS

Q3 2023: VFD Group Declares N29.03bn Gross Earning KayodeTokede The newly listed company on the Nigerian Exchange Limited (NGX), VFD Group has reported N29.03 billion in gross earnings in the third quarter (Q3) ended September 30, 2023, an increase of 23.1per cent from N23.59 billion reported in Q3 2022. The group declared N22.3billion investment income

in Q3 2023, a growth of 19 per cent from N18.73billion in Q3 2022, while investment expenses stood at N18.74billion in Q3 2023 from N12.8billion in Q3 2022. In the period under review, total of N13.85billion fixed debt takings in Q3 2023 from N11.35billion in Q3 2022 and N3.43billion cost of sales in Q3 2023 drive the group’s investment expenses.

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F O R DEALS

The interplay between investment income and investment expenses dragged the Group’s net investment income to N3.46billion in Q3 2023, a decline of 41.7 per cent from N5.94billion reported in Q3 2022. With about N7.7billion operating expenses in Q3 2023 from N5.51billion in Q3 2022, VFD Group reported N933.56million profit before tax in Q3 2023, a decline of 82 per cent from

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N5.06billion reported in Q3 2022. The financial position of VFD Group improved in the period as total assets hits N200.86billion as of September 30, 2023, a growth of 34.7 per cent from N149.11billion reported in 2022 FY. The GMD/ CEO, VFD Group, Mr. Nonso Okpala in a statement attributed the increase in gross earning to

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dividend income and treasuryrelated income. On profit, he said, “Our profitability for the period was impacted by the following: Naira depreciation from N447 to N767 (71.85per cent), which increased the cost of the hedge instruments we used to address exchange volatility on our forward transactions and had a significant impact on interest expense.

“Unprecedented inflation and the rising cost of doing business in the country impacted our operating costs as well. During the review period, we also made new investments, the benefits of which could not be recognized immediately, but which would manifest with significant upsides in the coming quarters, which is the crux of our unique business model.”

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MONDAY OCTOBER 30, 2023 • T H I S D AY

T H I S D AY • MONDAY, OCTOBER 30, 2023

NEWS

15TH EDITION OF ARISE WOMEN CONFERENCE... L-R: Special Adviser to the President on SDGs, Mrs. Adejoke Orelope-Adefulire; Wife of Deputy Governor of Kwara State, Mrs. Tokunbo Alabi; One of the Speakers of the day, Atinuke Asegieme; Convener, Arise Women, Dr. Siju Iluyomade, and Wife of Former Deputy Governor of Kogi State, Mrs. Tokunbo Awoniyi, at the 15th edition of Arise Women Conference held at the Trinity Towers, Lagos…weekend

FG: Rehabilitation of 43-year-old Kaduna Refinery to Be Completed Q4 Next Year Kyari to appear before Senate this week over 60% frontier acreages funds Inspects Kano AKK gas project, says 2024 completion target feasible Emmanuel Addeh, Sunday Aborisade in Abuja and Ahmad Sorondinki in Kano. The federal government has said the rehabilitation of the 110,000 barrels per day Kaduna Refinery and Petrochemicals Company Limited (KRPC) would be completed between October and December next year. A statement by the Nigerian National Petroleum Company Limited (NNPC), quoted that Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, as having made the remark during an inspection tour of the plant at the weekend.

This was just as it emerged that the Managing Director of the NNPC, Mr. Mele Kyari, would be expected to appear before the Senate Committee on Gas Resources this week over the management of the 60 per cent Frontier Acreages Funds. Lokpobiri, revealed that the ongoing quick-fix project would see the 43-year-old facility begin production by the end of 2024, stressing that the optimistic projection was based on the current level of work. In February this year, the NNPC signed a contract worth $740.6 million with South Korean firm, Daewoo

E&C for the repairs of Kaduna Refinery, expected to restore the refinery to 60 per cent of its 110,000 barrels per day name plate. At the time, the NNPC said it would be funding the contract using a combination of internally generated revenue and third party financing, explaining that the quick-fix strategy guaranteed the fastest route to re-streaming the refinery. Commissioned in 1980 to supply petroleum products to Northern Nigeria, the refinery with an initial capacity of 50,000 barrels per day was expanded to 100,000 barrels per day in 1983, with an additional 50,000

bpd crude train for the production of lubricating oils. Also in 1986, the capacity of the first crude train was expanded to 60,000 BPD to increase the actual crude oil refining nameplate capacity of to 110,000 bpd. But while assessing the progress of work on the ongoing project at the weekend, Lokpobiri, said he was confident that the refinery would be re-streamed by the end of 2024, considering the, “significant level of progress” he witnessed on the tour. He vowed to continue to hold key players involved in the rehabilitation process of the nation’s

NESI @10: Operators Insist Power Sector Has Improved in Last Decade Plan golf tourney to bring stakeholders together Emmanuel Addeh in Abuja Stakeholders in the Nigerian Electricity Supply Industry (NESI) have stated that despite the several shortcomings, the power sector which was partially privatised in 2013, has experienced some marked improvements in the last 10 years. Briefing journalists in Abuja on the plans to mark the anniversary of the sector, representatives of generation, transmission and distribution companies, noted that they also plan to bring major industry players together this week, through a golf tourney to ensure synergy in the sector. Coordinator, NESI Golf, Adetunji Adeyeye, an operator and energy expert, explained that misalignment of the entire value chain has been a major challenge and therefore the need to bring industry players together. According to him, since sitting in cosy offices to discuss the power sector has not solved the major challenges in the sector, it would be better to try an open and convivial environment at the IBB Golf Club in Abuja where players will lay bare their thoughts on how to grow the sector. “I'm privileged to know what

has happened in the power sector in the last 10 years. We need to see the glass as half full, not half empty. True, Nigerians still don't have light. We are not producing enough. We're not distributing enough. We're not transmitting enough, but it's not as bad as it was 10 years back,” he argued. The Presidential Power Initiative (PPI), for instance, he said, is removing some constraints in the power sector in Nigeria and immediately making

sure that more electricity is produced, generated and transmitted. According to him, the project is currently advancing well through the expansion of infrastructure programme. “So, in about a year or two, you will begin to see significant changes in terms of volume of electricity you get, in terms of quality and in terms of overall service. So we are not where we need to be yet. But I will say that a lot of things have been done,” he added.

The expert stated that the gas end of the power sector was being addressed, as 18 of Nigeria’s 26 generation companies are fully dependent on the commodity to function. “So, we then need to, as a matter of national policy, sort out the gas issue so that there's no gas constraint, so they can have enough gas to produce. And all of that work is going on. So it's a combination of many things, a bouquet of different actions coming together,” he argued.

refineries accountable and pledge government’s support in ensuring the timely delivery of the project. According to the minister, there was an urgent need to get the refinery back on stream for the nation’s economic prosperity and energy security, which are both paths to sustainable development. Earlier in his remarks, Kyari, reassured the minister that the fuel plant at the refinery would be delivered by the end of 2024. Kyari, said all hands were on the deck to bring the refinery back on stream, stressing that the contractor had since been mobilised to the site and the needed equipment for the quick-fix activities were already in place. "We are very confident that we will get the appropriate financing to get to the end of it, and ultimately, we will start to deliver value to Nigerians again. “We plan the quick-fix for 60,000 barrels per day so that we can start making money from this plant and we can continue the other part of the refinery to bring it up to its full-fledged capacity. “This will also tally with the completion of the Build, Operate, and Transfer (BOT) on the pipeline so as to have a reliable pipeline delivery infrastructure," the GCEO stated. Kyari, was represented on the inspection visit by the Executive Vice President of Gas, power and New Energy of the Company, Olalekan Ogunleye. He added: “We are here for an onthe-spot examination of the progress

of this project and to commend the entire team for the sterling safety performance. We encourage you to prioritise safety and more importantly to demonstrate the new mantra of NNPCL. "The message of Mr. President and the leadership of NNPCL is clear. We must focus on effective delivery, quality, and performance, as more prosperity is on the way to Nigeria. All of us must align to ensure that this project ends by 2024." he stated. Kyari stressed "We must step up on our teamwork and collaboration to ensure we deliver on this critical and economic enhancement program for Nigeria." He said, President Bola Ahmed Tinubu had given a matching order to ensure completion of the project as scheduled, adding that, apart from creating more economic prosperity for Nigerians, most of the ailing industries would be revived. On the Kano segment of the AKK project, especially, the Hadejia River crossing site at Tambuwa Zaria road in Kano, the NNPCL boss explained that the project was currently at 55 percent to be delivered. The inspection tour, which was preceded by the 14th Refineries Rehabilitation Steering Committee Meeting, also had in attendance NNPC’s Executive Vice President, Downstream, Adedapo Segun; Executive Vice President, Upstream, Oritsemeyiwa Eyesan; Managing Directors of the three refineries; and a host of other members of the committee.

CDHR Chieftain Berates FG for Giving Nigerians Paltry N25,000 As Palliative Hammed Shittu in Ilorin The former president of the Committee for Defence of Human Rights (CDHR) Dr. Osagie Obayuwana, has berated the federal government over the move to pay N25,000 palliative to Nigerians, describing it as a "misplaced priority." Obayuwana said the amount was not commensurable to the hardships Nigerians are experiencing.

Speaking in Ilorin at the just concluded biennial conference of CDHR's annual general conference held at the Michael Imoudu National Institute for Labour Studies, Obayuwana said, "Nigerians deserve a system that bequeaths citizens basic amenities that will develop their psyche and automatically compel and ignite their inbuilt patriotism. Obayuwana added, "Erratic electricity supply, lack of accommodation, poor healthcare

service and general breakdown of life-enhancing facilities can never be remedied by palliative." He explained that the pay rises that successive governments have constantly announced were tactless, noting that "Imoudu was always agitating and seeking pay rise tied to the existing inflation rate for workers." "We have resolved that our rights are non-negotiable. We want a new Nigeria of which its resources would be used for

the generality of all Nigerians," said Obayuwana. The Director-General of Michael Imoudu National Institute of Labour Studies, Comrade Issa Aremu, disclosed that plans were underway to include human rights studies in the institute's curriculum for workers to know past heroes and their tactics to their recorded heights. "We shall partner CDHR on this project so that the

fundamental issues of rights will be useful for organised labour," stated Aremu. The director of the International Federation of Women Lawyers (FIDA,) Gloria Okodua, called for more women's participation in human rights activism, urging the group to sharpen its sensitisation, especially at the grassroots, towards winning more activists to ensure total awareness in the struggle.

T H I S D AY • MONDAY, OCTOBER 30, 2023

NEWS

AGM & 3RD INDUCTION CEREMONY OF ACADEMY OF MEDICINE SPECIALTIES OF NIGERIA... L-R: President-elect, Academy of Medicine Specialties of Nigeria, Emeritus Prof. Osato Giwa-Osagie; Chairman, Board of Trustees, Dr. Sonny Kuku; Vice-Chancellor Unilag, Prof. Folasade Ogunsola; Minister of State for Health, Dr. Tunji Alausa; Out Going President of the Academy, Prof. Oladapo Ashiru; Chairman of Premier Lotto, Sir Kessington Adebutu and Repsentative of Minister of Science, Technology and Innovation/DG, Nigeria ABIODUN AJALA National Medicine Development Agency, Prof. Martins Emeje during the Academy of Medicine Specialties of Nigeria 2023 Annual General Meeting & 3rd Induction Ceremony in Lagos...Saturday.

Adeleke: Osun to Get Five Flyovers, 45 Roads from N100bn Infrastructure Plan

Don't turn state into avoidable financial crisis, APC warns PDP to opposition party: You are anti-development, anti-people

Yinka Kolawole in Osogbo Osun State Governor, Ademola Adeleke, at the weekend said his administration plans to construct five flyovers to ease traffic within the next one-year, in the N100 billion infrastructure development plan for the state. But in swift reaction to the move, the All Progressives Congress (APC), Osun Chapter, has accused Adeleke of deliberate intention to plunge the State into avoidable financial crisis. However, Osun State chapter of the Peoples Democratic Party (PDP) described criticism by the APC in the State as, "unpatriotic, reprehensible

and a display of anti-development, anti-people politics for which the opposition is known for." The governor also disclosed that 45 roads across the 30 local government areas in the state had been selected for construction. Adeleke, who stated this in Osogbo said the projects would be financed solely by the government without borrowing from financial institutions. The governor contended that two flyovers would be constructed in Osogbo, one in Ile-Ife, one in Owode-Ede and one in Ikirun town. He further noted that the project execution would be done with the

preference for local suppliers of materials and contractors. The Governor however listed other projects under the plan to include the rehabilitation of 345 health centres in the 332 Wards of Osun State, phase two of potable water provision in 332 wards of Osun State, and phase two of the rehabilitation of 31 schools in the 30 mother local governments of Osun State. Also listed among the projects were the dualisation of roads in Osogbo, Ede, and Ilesa. According to him, “We are getting set to key into infrastructure financing opportunities as long as it will not

add to the financial burden of the state. “Let me declare here that the infra-plan I am about to unveil is purely state-sponsored without any loan from financial institutions. “I must also add that we are hitting the ground running immediately after this launch. We are complying with all procurement laws and due process. “Very importantly, our administration is ensuring localisation in the implementation process. Local content in terms of sourcing of materials and workforce are key to transfer skills and economically empower our people.”

Tasew: There’s Diplomatic Negotiation to Release Nigerians Detained in Ethiopia Denies maltreatment of Nigerians in detention Chinedu Eze Nigeria and Ethiopia are collaborating at the diplomatic level to release Nigerian passengers who were arrested and detained on various infractions against country’s travel regulations, the Group Chief Executive Officer of Ethiopian Airlines, Mr. Mesfin Tasew has disclosed. Tasew, also denied media reports that Ethiopian authorities maltreated Nigerians who were detained in the East African nation whose number was put at 270. The Group CEO who spoke in an interview with Nigerian journalists in Addis Ababa, recently, said the airline had made efforts to educate its passengers on Ethiopia’s rules concerning declaration of valuables upon arrival at the capital city, but some passengers still refuse to comply. Tasew, who indicated that the airline has a lot of respect for its travelers, especially Nigerian passengers, said like any other international airport in the world, as passengers transit through Bole International Airport, Addis Ababa, they undergo screening and, in the process, there are certain

checks that are carried out by security operatives from Ethiopian government. He said sometimes during the security screening process, Ethiopian officials could find people who were not in compliance with both the national regulation and international security practices. “About 70 per cent of our passengers transit through Addis Ababa. It's only 30 per cent that come in and go out to the city and the transit time in Addis Ababa varies from 20 minutes to few hours. Some passengers just disembark from one aircraft and board the next aircraft in 20 minutes. Sometimes it may go up to four hours but most are within a range of one hour and two hours. “If some passengers are found carrying drugs, they will not be allowed to continue their flight. The security people will take them under custody. If they are found carrying weapons without permission, they do the same thing until they investigate them and see that it is an approved weapon. “The second problem that we witness is that some people carry a lot of valuables like gold in large

sizes or dollars in millions of cash in their bags. “If they are transiting without coming into the city, the security won’t touch them. They can carry the money because it's their money, they are not coming to the country. However, if they want to pass a day or a night in the city to get their connection and they have to come out to this hotel (Skylight Hotel), the national regulation says that all passengers carrying over $10,000 its equivalent or gold beyond the normal ornaments, have to declare it to Customs on arrival.” “You have to tell them, ‘Oh, I am carrying $30,000’. They may ask you, where is it? You can take it out from your bag, show them. You sign on a piece of paper and the next morning when you go out, as you pass through the X-ray (security screening machine), there are Customs people there. If they see it, they ask if you have the permit to carry this money. If you show that paper, nothing will happen,” the Group CEO said. He explained that a passenger was free to carry items and cash through the airport as long as he would not leave the airside

of the airport to the city or the landside of the airport. “You are free to carry out your money, even if it is a million dollar. All they are asking is that you declare it. If you are not declaring it, they assume that it's not your money and that somebody in the city has given it to you, so it is illegal to take out this money. They confiscate the money,” he said. Tasew, pointed out that some passengers say the reason they don’t declare the cash they carry was because they are afraid that if they do so, people would follow them to the hotel and steal the money and that he discussed this issue with the Nigeria’s former Minister of Aviation, Hadi Sirika and told him that each hotel room has a safe box where they can put their valuables, including money, and bring the key. He said: “We established a hotel within the terminal where passengers can sleep and which has the same standard to good hotels elsewhere. So, passengers can stay in those hotels with their valuables, without declaring because they don't pass through customs.”

However, reacting to the development, the Chairman of the Osun State APC, Sooko Tajudeen Lawal, in a statement issued by the party’s Director of Media and Information, Chief Kola Olabisi, in Osogbo, yesterday, described the Adeleke N100 billion development programmes scenario as a scam skillfully designed to enrich some economic buccaneers close to the government. Lawal, explained further that there could not be any other name for the phony and white-elephant projects but a gross misplacement of priority in the hand of a person statutorily saddled with the responsibility of being the caretaker of the resources of the state. The state APC chairman reminded Adeleke that since he said he would not borrow a dime to finance the projects, the citizenry deserved the right to know the source of the funding and the modality for its settlement, “as what we are talking of is not a family enterprise which activities can be effected under the table.” He stated that he found the development laughable as the Adeleke’s administration which he said could not successfully

handle the earlier 332 boreholes it promised each of the wards in the state suddenly woke up to itemise some suspicious projects for execution within one year. Lawal sought to know the moral consideration for the Adeleke government which he alleged was still hoarding N9 billion federal government fuel subsidy removal palliative meant to ameliorate the suffering of the people of the state four months after its payment into the coffers of the state government. However, the Osun State chapter of the PDP described criticism of its government's multi-billion naira infrastructure plan by the state's APC as unpatriotic, reprehensible and a display of anti-development. The State Chairman of the PDP, Hon. Sunday Bisi, chided the APC for playing politics with, "a development agenda that is widely adjudged to be commendable, long overdue, sustainable and very paramount to the economic revival of our dear state. "Reading through the APC statement, we see a party that is in bewilderment and severe pain at the ingenuity, innovation and financial engineering of the Adeleke governorship.

Emir Lauds Tinubu over Appointment of Ex- THISDAY Editor, Onilu as DG NOA Hammed Shittu in Ilorin. The Emir of Ilorin and Chairman Kwara State Council of Chiefs, Alhaji Ibrahim Sulu-Gambari, has thanked President Bola Ahmed Tinubu, over the appointment of Mallam Lanre Issa Onilu, as the Director General of National Orientation Agency, (NOA). He described the appointment as a well-deserved one. A statement issued in Ilorin yesterday, by the Emir of Ilorin, to congratulate Onilu, that was signed by his spokesperson, Alhaji AbdulAzeez Arowona, stated that the Emir described the new DG as a versatile media and public relations expert. He further expressed confidence

in his ability to deliver on the core mandates of the agency especially at a period when the nation is in serious need of national reorientation. Gambari added: “Mallam Lanre Onilu, as the NOA DG, will further strengthen the nation’s unity, national reawakening and patriotism among Nigerians.” He, however, advised the new DG to adopt far reaching consultations among other government agencies and individuals in order to further promote and project Nigeria’s image positively globally. The Emir therefore urged Nigerians to support him with prayers and workplace cooperation always.

T H I S D AY • MONDAY, OCTOBER 30, 2023

NEWS

MEMORIAL SERVICE FOR CHIEF ANENIH… R-L: Mr Tony Anenih Jnr; wife of the late Chief Tony Anenih, Justice Maryann Anenih; Mrs Christy Anenih-Borha, and Christian Anenih at the memorial service at St Paul Catholic Church in Benin City.

INEC Plotting to Forge Imo Election Results Favouring Uzodimma, CSOs Allege Gideon Arinze in Enugu A coalition of civil society groups has alleged plans by the Independent National Electoral Commission (INEC) to cook up results for the Imo governorship election in favour of Governor Hope Uzodimma. In a joint press conference held in Enugu yesterday, the groups, including the International Society for Civil Liberties and the Rule of

Law (Intersociety) and Coalition of Democracy and Human Rights Organisations, claimed they had evidence that INEC had no plan to organise a free, fair and credible election in Imo. Chairman of the board of trustees of Intersociety, Emeka Umeagbalasi, who addressed the press conference, said the winner of the November 11 election in Imo, if conducted freely and fairly, would not score more

Edo Trains Another Batch of over 1,500 Vigilance, Hunters to Curb Crime, Criminality Edo State Government has commenced a 10-day intensive training for over 1,500 operatives of the Edo State Security Vigilance Network (ESSVN) as part of efforts to beef up the State’s security architecture and bolster efforts at combating crime in the State.The training was the third batch of over 1,500 men and women cut across the three senatorial districts of the State to be trained on weapons handling and intelligence gathering, among others. Speaking at the Police Training School in Ogida Barracks, a statement quoted the Coordinator of ESSVN, Col. Kole Omomia (rtd), to have said over 3,574 operatives of the security network have so far been trained in the first three phases of the training programme. According to him, 574 ESSVN and hunters were trained during the first batch from Edo North and 1,500 persons were trained from two senatorial districts, Edo South and Central during the second batch. Noting that another batch of 1500 operatives was being trained in the third phase of the training programme, Omomia said, “It's a 10 days intensive training. We are making sure that our operatives are well-trained and equipped to improve our security architecture in the State. “The training is as directed by the Governor of Edo State to ensure a peaceful and secure State. A lot of activities will take place as profiling will be carried out on all trainees. We will adequately document them to ensure they are from Edo State and they will go through medical tests to ensure that they are fit for the training.”

He further noted, “The level of synergy between our sister agencies has been very cordial. We have good working relationships with the Army, Air Force, Police, Immigration, DSS, NDLEA and others. We had no issue with any of them as we work in peace and collaborate to ensure that the State is safe for all. “We are working with other security agencies to boost the morale of our men as we have our core values in ESSVN which is discipline, loyalty, integrity and selfless service. “This is a community-based security architecture. They have been selected from their various local governments and the various Chairmen have input before the list was sent to us. “All the trainees will go through medical fitness and anyone that fails to pass the medicals will be edged out as there is no age limit. “Our men must be fit and able to help collaborate with other sister security agencies to reduce crime to the barest minimum, ensuring that the State is safe for all. The coordinator added, “We have the intelligent unit of ESSVN that ensures information and intelligence gathering to boost the performance of our men. We arrest, profile, and feed on information from the profiling to write our report before handing over criminals to the police. “We will continue to train them as there are more batches of training programmes to come. The Governor of Edo State, Mr. Godwin Obaseki has done well in terms of security and this has made the State a destination for investors.”

than 90,000 to 130,000 votes out of total lawful votes cast of not more than 300,000. "We arrived at this projection after considering the fears, chaos and bloodletting that have gripped the state since January 2021, in which more than half of the state's 27 local government areas are deeply affected," he said. Umeagbalasi stated that 1.8 million (out of the state's 2.4 million PVC holders) of the registered voting population

had been displaced from their voting areas, leaving Imo with only 600,000 eligible voters, out of which 300,000 may vote. "Unless extreme lawful measures are timely taken, Nigerians and other international democracy watchers should expect the return of the incumbent as the winner who polled 500,000 to one million votes," Umeagbalasi said. He noted that the coalition had written letters to critical stakeholders, including the

inspector general of police, the national security adviser, the chief of army staff, the director-general of the State Security Service, the INEC chairman and the chief of defence staff. Umeagbalasi, however, regretted that none of the issues raised in the letters, such as the need to ensure that collation centres are outside the arenas under the influence of the Imo government, timely overhaul of some security departments in the

state and the provision of security for Imo voters and protection of their votes, "strongly suggesting that there are plans to harvest and write results for the incumbent governor in the state." Umeagbalasi maintained that the coalition's interest in the Imo election is to ensure transparency, fairness, and the protection of human rights following the January 14, 2020, supreme Court's verdict that installed Uzodimma as governor.

Oil Spillage: Ondo Community Secures Order Restraining Shell from Selling Assets in Nigeria Alex Enumah in Abuja A Federal High Court in Akure, has restrained oil giant, Shell Petroleum Development Company (SPDC), from disposing any of its assets in Nigeria, pending the hearing and determination of a suit brought against it by an indigenous community in Ondo State. The restraining order issued on September 28, was sequel to an ex parte application brought by one Prince Afolabi Akinruntan and 1,215 others against SPDC, SPDC Nigeria Ltd, Shell International Company Ltd, Shell International Exploration and Production Ltd, Attorney General of the Federation AGF and Minister of Justice and the Nigerian National Petroleum Company (NNPC). Justice T. B. Adegoke of the

Akure division of the Federal High Court in a ruling on Friday, held that it was necessary to grant the restraining order in order, "not to make nugatory the essence of this suit." The plaintiffs had dragged the defendants before the Federal High Court, Akure Ondo State, over alleged oil Spillage caused by she'll in their community in Ondo State. In the suit marked: FHC/AK/ CS/68/2023, the plaintiffs were seeking for the enforcement of their fundamental rights and the remediation of the environmental hazards and degradation caused by the oil spillage of Shell's ruptured pipelines. The plaintiffs however, pointed out that Shell had indicated intention to dispose all of its assets in Nigeria as well as quit its business operations in the

country. The plaintiffs pointed out that if the court does not intervene through the grant of the exparte application, "the judgment of the court will be rendered nugatory, academic, and unenforceable, if it is favour of the plaintiffs.” While submitting that an order of mareva was apt in the circumstance, they urged the court to exercise its discretionary powers and grant the reliefs sought. In a short ruling, Justice Adegoke, pointing out that ex parte orders are made in very special circumstances in order not to make nugatory the judgment of a court. The judge observed that in the instant case before it, the plaintiffs are in court to claim compensation, remediation and rehabilitation of their

environment, farmland, fish ponds, engine boat machineries etc destroyed by the oil spillage, rain acid and pollution since 2011 to 2019 and which still continues by the activities of Shell. Hence the need to grant the application. The judge subsequently made an, "Order of Mareva injunction restraining shell from disposing off any of their assets in any part of Nigeria, pending the hearing and determination of the suit.” Besides, the judge made an order for accelerated hearing in the suit. Meanwhile, a Certified True Copy (CTC) of the court's ruling, dated October 5, and signed by the Court's Registrar, O. O. Amindayomi, noted that the order shall be discharged if it is shown that that the court was deceived into making the order.

TEPNG/NNPC JV Hands Over Skills Acquisition Centre to Rivers State Blessing Ibunge in Port Harcourt The TotalEnergies Exploration and Production Nigeria Limited and Nigerian National Petroleum Company Limited (TEPNG/ NNPCL) Joint Venture (JV), has commissioned and handed over a women’s development and skills acquisition centre to the Rivers state government. At the ceremony which took place at the weekend, the Managing Director and Country Chair, TotalEnergies Upstream Nigeria Limited, Mr Matthieu Bouyer, noted that the project was in furtherance of the Corporate Social Responsibility (CSR) initiative of the company's deepwater asset operations. Represented by the Executive

Director, People and Country Services, Evi Ifekwe, Bouyer revealed that in 2016, TotalEnergies commenced a robust plan to deploy CSR infrastructure developments across Nigeria, which he said resulted in a strategy to deliver 84 physical projects across the six geo-political zones of the country. "Of these infrastructure projects, 64 have already been completed and commissioned from the earlier phases. In 2023, the total of three projects have been completed. Another 17 are set to advanced stages of completion and planned to be unveiled before the end of the year," he said. According to the TotalEnergies MD, the projects were borne out of the need to mitigate the gaps in qualitative and technical education,

reduce maternal and child death, enhance access to clean water, among others. Speaking on the significance of the centre, Bouyer said its completion underscored the close relationship TotalEnergies has with the Rivers state government and the people, adding that Port Harcourt remains the administrative hub of its operations. Bouyer thanked the senior partner, NNPC Limited as well as other partners: SAPETRO, CNOOC and PRIME 130. In his remarks, the Chief Upstream Investment Officer, NNPC Upstream Investment Management Services, Mr Bala Wunti, said the project was a proof of the NNPC and its partners’ responsibility towards

the economic empowerment of the communities and the country at large. Wunti who was represented by Edith Lawson, said NNPC and partners are sensitive to the needs of the people, saying that: "Our goal is to ensure that Nigerians benefit from CSR interventions based on verifiable and critically assessed needs of the various identified beneficiary states across the country ". He assured the consistent implementation of the projects that will positively impact the lives of the citizens of the country. Meanwhile, the Rivers State government has lauded TotalEnergies and it’s partners for the construction of the centre built in the premises of the state ministry of women affairs in Port Harcourt.

T H I S D AY • MONDAY, OCTOBER 30, 2023

NEWS

CORONATION ANNIVERSARY AND 70TH BIRTHDAY CELEBRATION OF THE OLORU… L-R: Oloru of Oru Ijebu, Oba (Dr) Abdulrasaq Olufemi Adebanjo; Ogun State Governor, Prince Dapo Abiodun and the Secretary to the Ogun State Government (SSG), Mr. Tokunbo Talabi during the 10th year coronation anniversary and 70th birthday celebration of the Oloru, held in Oru, Ogun State on Saturday.

Rivers Assembly Set Ablaze over Alleged Move to Impeach Gov Fubara Coalition warns Wike, says Rivers not his personal estate Blessing Ibunge in Port Harcourt and Wale Igbintade The Rivers State House of Assembly (RSHA) was last night set ablaze by yet to be known political thugs over the alleged move to impeach the state governor, Siminalayi Fubara and Leader of the House, Edison Ehie. This development came just as a civil society group, Coalition of Democratic Vanguard (CDV), has issued a strongly worded warning to the Minister of the Federal Capital Territory (FCT), Mr. Nyesom Wike and his allies who are allegedly seeking to impeach Fubara and Ehie. THISDAY gathered that some thugs in a white Hilux van invaded the assembly complex at about 9.00pm yesterday, disarmed the

security personnel on duty and allegedly carried out the act. It was learnt that the incident occurred at the assembly complex, opposite the Headquarters of the State Command Police, on Moscow Road, Port Harcourt. A source disclosed that the legislature had concluded plans to impeach the Fubara and Ehie today at it resumed sitting following some undisclosed issues. A security source, who pleaded anonymity and confirmed the incident, said it took efforts of police and the State Fire Service teams to put out the fire. The source said: “Yes, the Rivers State House of Assembly main chamber was under attack and set on fire. It was police men and the fire service team that helped to put out the fire.”

As at the time of filling this report, it was gathered that over 17 security trucks and four Armoured Personnel Carrier (APC) with over 50 federal security personnel have been stationed at the facility. It is not clear if the incident is connected with the rumours of a rift between Governor Fubara and his predecessor Wike, who is now FCT Minister. It was also alleged that the Rivers Government House Aide De Camp has been sacked. Meanwhile, CDV had earlier issued a statement, "warning Nyesom Wike and his allies against moves to impeach Governor Fubara and Ehie. The coalition in the statement signed by Mr Thompson Orumbo (Chairman) and Peter Nwabunna (Secretary), condemned any attempt to undermine the democratic process and

urged all parties involved to respect the will of the people and prioritise the betterment of Rivers State. They stated: "At the core of any functioning democracy lies the principle of free and fair elections, which provide citizens with the opportunity to choose their leaders, and Rivers people have chosen Sir Siminalayi Fubara. Impeachment attempts should be rooted in concrete evidence of wrongdoing and carried out only through legitimate channels, ensuring transparency and accountability." “The Coalition emphasises that any attempts to impeach Governor Fubara and Ehie must adhere to the democratic principles, if not, it would be resisted by Rivers people. "Rivers State has made significant strides in the pursuit of development and stability under the leadership of

Governor Fubara. The governor has championed policies and initiatives that have positively impacted the lives of the citizens. Political squabbles and power struggles should not hinder the progress, and the people's mandate must be respected." The Coalition further urged "Nyesom Wike and his co-travellers to prioritise the interests of the people and set aside personal and political interest." “The said that the unity and stability of Rivers State should be the primary goal, with cooperative efforts dedicated to achieving sustained development, improved infrastructure, and the welfare of its citizens. "Should Nyesom Wike and his co-travellers have genuine concerns

regarding the performance or integrity of Governor Fubara and Edison Ehie, they should first present concrete evidence through appropriate channels such as investigations or inquiries. This would ensure that any actions taken are based on facts instead of subjective perceptions or personal motives," the coalition added. Fubara, a former Accountant General of the state, was chosen by Wike to become the governor of the state. A source in the state informed THISDAY that despite being the Minister of the FCT, Wike is frequently giving directives and instructions to the governor on what he should do and who to appoint into positions in the state, something the governor is fed up with.

Exodus Hits Ebonyi PDP as Anyim, Customs Rallies Border Communities for Enhanced National Security Mass Ogba, Others Reportedly Resign Francis Sardauna in Katsina

The Katsina Area Command of the Nigeria Customs Service (NCS) has solicited the support of border communities in order to strengthen national security for trade facilitation and economic development. The Comptroller in charge of the Command, Muhammed Umar, who stated this while traversing border communities in the state, pledged to tackle all forms of trans-border crimes and improve the NSC community relations in border areas. Umar, according to a statement by the Command's Public Relations Officer, Tahir Balarabe, visited the

Jibia-Magama and Jibia-Maje border Stations in Jibia Local Government, Dankama border in Kaita Local Government, and Birnin Kuka border Station in Mashi Local Government Areas of the State. During the visit, the statement said the comptroller held interactive sessions with the chairmen of the local government areas, leaders of various business associations, and traditional leaders. Umar said members of the border communities in the state have a significant role in helping the NCS and other security agencies in the discharge of their role as regards trade facilitation and national security.

He explained that trans-border crimes such as arms smuggling, human and drugs trafficking orchestrated by economic saboteurs would be squarely tamed by the command in order to strengthen national security for improved trade facilitation and economic development. He further stated that officers are adequately motivated and re-oriented to execute their functions creditably without compromise, adding that smuggling activities have to be confronted headlong in order to prevent revenue leakages. "We are working with other sister security agencies to ensure

that banditry, kidnapping, transborder crimes, trading in small arms and light weapons are reduced to the barest minimum in border communities in the state," he said. Addressing business leaders in Magama, Umar made it clear that he was not deployed to Katsina State to jeopardise or block the state's economic activities but to revamp it and promote trade without compromising national security. He said the Magama border was strategic to NCS operations, and all borders around it represent a strategic gateway to not just trade and economic development but also for national security management.

FG: Our Desire is to Reduce Number of Out-of-school Children Okon Bassey in Uyo

The federal government has said that it intends to reduce or completely phase out the growing number of out-of-school children nationwide. It also lauded the drive by the Akwa Ibom state government in the development of basic education infrastructure in the state. The Minister of Education, Prof. Tahir Mamman, who made the commendation, observed with satisfaction the ongoing remodelling of Christ the King School, (CKS)

Primary School to be replicated in the 31 Local Government Areas of the State. The minister said he was satisfied when he inspected the remodelled CKS, led by the State Governor, Mr Umo Eno at Wellington Bassey Way, Uyo. Mamman who was in Uyo for the celebration of the University of Lagos 1984 Law Class reunion, said the federal government was impressed by the initiative and imprints of the Eno led- government and described the gesture as creating attractive

environment to boost enrolment in schools. This, he stated, was in line with President Bola Tinubu's vision of reversing the decline in school enrolments, given the importance he attaches to education at the basic level. "Indeed, there is hope for us as a country with the effort of all the governors and everybody and the federal government working together collaboratively. "For us at the federal level, particularly the president, that is

our area of focus. We want the out-of-school children to be a matter of history, and this is the way to do it," the minister said. Earlier, the state governor, Eno, had stressed his administration's determination to pay attention to education at the primary level to spur the passion among school children. Eno reiterated the need for the state and federal government to collaborate in revamping the primary education, healthcare, amongst other sectors, to the advantage of the states and country in general.

Benjamin Nworie in Abakaliki Many critical stakeholders of the Peoples Democratic Party (PDP) in Ebonyi State have resigned from the party. THISDAY gathered that a former Secretary to the Government of the Federation, Senator Pius Anyim and a former governorship aspirant of the PDP, Senator Obinna Ogba have also reportedly quit the party. In his resignation letter dated October 27, a close ally to Anyim and former member that represented Ohaozara, Onicha and Ivo federal constituency in the 9th Assembly, Livinus Makwe said that he resigned due to personal reasons. In the letter addressed to his former PDP ward chairman, Makwe said: "I write to notify you that due to personal reasons, I have taken a decision to resign from the PDP after due consultation with my followers, supporters, and well-wishers in the party. "Accordingly, I hereby resign my membership of the PDP with effect from today, 27th October, 2023. The National Chairman of PDP, National Vice Chairman PDP (South East), Ebonyi State PDP Chairman and Ivo LGA PDP chairman are by copies of this letter hereby accordingly notified of this decision.

"I wish to thank the party for the platform and opportunity availed me in the past to serve our nation, especially as a member of the 9th House of Representatives. I do hope that this my resignation will be accepted in good faith by you and other members of the party," the letter stated. The former lawmaker resigned from the PDP with over 1000 supporters who are also loyalists to the former SGF. Also, six local government chairmen of the party have resigned from the PDP. The chairmen include: Agbom Friday (Ezza south); Nwofe Philip (lzzi); Nwobasi Ude (Ohaozara); Chukwu Micheal (Ivo); Ifere Bright (lkwo) and Ndukwe Okam (Afikpo south). A source from the PDP told THISDAY that more stakeholders would tender their resignation letters from the party some days ahead. However, all efforts to reach the state caretaker chairman of the party, Augustine Nwazunku proved abortive as he switched off his phone immediately the question was posed to him. Meanwhile, the state Publicity Secretary of the All Progressives Congress (APC), Chidi Ogbuatu, confirmed the resignations, adding that it was good news for his party.

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NEWS

DIGITAL ECONOMY NIGERIA CONFERENCE... L-R: Country Director ALX, Ruby Igwe; Head of Partnerships LSETF, Sherifah Balogun ; Country Marketing Manager, ALX, Babajide Durosola; during the Digital Economy Nigeria Conference in Abuja..recently

KINGSLEY ADEBOYE

NNPP Crisis: S'East Executive Affirms Kwankwaso's Expulsion, Insists on Aniebonam as Leader David-Chyddy Eleke in Awka Leaders of the New Nigeria Peoples Party (NNPP) in the South East zone, have affirmed last month's expulsion of its presidential candidate, Rabiu Kwankwaso from the party. The party leaders from the South East states, who converged on Awka, the Anambra State capital for a zonal executive conference said

Kwankwaso and members of his Kwankwasiya group had ceased to be members of the party. There has been crisis in the party, following allegations that Kwankwaso, who contested for president in last February’s 25 election, had perfected plans to highjack the party from its founder, Dr Boniface Aniebonam. Deputy National Chairman of

the party, Mr Felix Chukwurah who presided the conference said there was no going back on the expulsion. "Kwankwaso flew many miles, during the COVID-19, when there was restriction of interstate movement, to come to Anambra to beg our party's founder, Boniface Aniebonam, for him to be the presidential candidate of the party. "He entered into a

Memorandum of Understanding (MoU) with the party and he was allowed to run on the platform. We didn't know he had sinister motive, which was to hijack the party. "He was not lucky because, elections are over, and the MOU he signed to be in our party expired, since elections have finished. So he should go and leave us alone," he said. The conference while

Group Demands Matawalle’s Sack over Alleged Mismanagement of N11bn Gusau Cargo Airport Fund Its diversionary tactics by my successor, says ex-governor Adedayo Akinwale in Abuja A group under the auspices of the Civil Society Advocacy Groups for Accountability and Probity has called on President Bola Ahmed Tinubu to sack the Minister of State for Defence, Bello Matawalle over alleged mismanagement of N11 billion Gusau cargo airport fund. However, in a swift reaction to the allegation, Matawalle, argued that the accusation was a calculated mischief and diversionary tactics of Zamfara Governor, Dauda Lawal, to cover up for his inefficiency. But the National Coordinator, of the civil society group, Danesi Momoh, while addressing a press conference in Abuja, yesterday, also called on the Economic and Financial Crimes Commission (EFCC) to step in and bring Matawalle and his co-travelers to justice. It said the inability by Matawalle to render an account of the multibillion naira Gusau International Cargo Airport was the reason for the call for his sack. The group stressed that Tinubu must demonstrate his fight against corruption by relieving him of his duty. It said: "On the heels of these unsavoury developments, we call on Mr. President to demonstrate the right action in promoting the fight against corruption and theft in public office. "People like Bello Matawelle must be shown the exit from public service and made to pay for their wrongs to serve as deterrent to

others. “Allowing him to remain in office is like rewarding corruption by an administration that has shown both the determination and political will to fight corruption.” The group maintained that the recovery of funds embezzled from the good people of Zamfara would go a long way to develop the state after the horrendous attacks of bandits and the poverty it has caused. It added: "For an administration that rode of the waves of integrity and the need to fight corruption, identifying with a man of questionable character like Bello Matawalle is a direct mockery of the expectations of Nigerians and as believers of President Tinubu's vision, we cannot fold our hands and watch this ignoble development continue to fester. "It might be recalled that many well-meaning Nigerians were vehemently opposed to Matawelle's appointment as a Minister of the Federal Republic following his antecedents as the Governor of Zamfara State. "It is obvious that if allowed to remain in office, Matawelle will introduce his crooked gimmicks in contract racketeering in the ministry of defence that has always been known for its impeccable handling of procurement because of the sensitivity of its mandate. "For a man who once said the cost of the Cargo Airport in Gusau was N28 billion and then quickly reduced it to N11 billion in round figures, there is no way Nigerians

will not be convinced that Matawlle was both the contractor and the awarding institution." However, Matawalle, in a statement by his Commissioner of information while he held sway in Zamfara state, Ibrahim Dosara, maintained that the accusation remained a calculated mischief and diversionary tactics by Governor Lawal to cover up for his inefficiency. He explained that he inherited the cargo Airport project contract from its predecessor, adding that his resolve to go ahead with the project was in the best interest of the people of the state. Matawalle added: "As government is a continuous process, former Governor Matawalle saw the need to consider completing the project for its numerous benefits to the people of the state and beyond. “I want to bring to the attention of the general public that it is only Zamfara State that has no Airport of its own, up to the time of this press statement. “After due deliberations in council, it was agreed that the project be continued. As a follow up to the State Executive Council’s resolution and decision on the project, contractors were invited to bid for the contract to execute the Cargo Airport Project. “After reaching agreement and in consultation with the Federal Airport Authority that Matawalle government immediately mobiliSed the contractors to site to handle the project to its timely completion.”

The minister explained further: “In the first instance, a bill of N28 billion was submitted to the government for consideration. However, due to the foresight and prudence of the former Governor Matawalle, his government rejected the bill which the former Governor considered outrageous and crazy. “The former Governor therefore insisted that the amount be down reviewed to considerable sum, which was down sized to N11 billion. “For those who are unaware of the funding process of this project, let me bring it to your knowledge that the project was being funded through a banking arrangement known as “contract financing.” Matawalle, said this meant an agreement between Zamfara State government and some private companies involving funding banks who released money only on the satisfaction that the certificates raised by government is commensurate to the works done on site. He added: “I wonder how monies meant for the project under this banking arrangement could have been embezzled by the former Governor. “For the record, the following compartments of the contract were carried out and have reached various stages of completion as follows: Access Roads -Airport access dual road, Gate and Drainages have all been completed with environment assessment by the Federal Ministry of Aviation carried out and completed.”

affirming the expulsion of Kwankwaso also passed a vote of confidence in the founder of the party, Aniebonam, and the National Chairman, Dr Major Agbo.

Kelechi Apugo, the Acting state chairman of NNPP in Abia State and his Enugu State counterpart, Mr Chuba Nwadiogbu moved and seconded the motion.

Nigeria, Turkey Explore Partnership in Production of Military Hardware Kingsley Nwezeh in Abuja In a renewed drive to equip the Nigerian Armed Forces with high-tech hardware and other military equipment, Minister of Defence, Badaru Abubakar, weekend, paid a bilateral visit to Turkey to further discuss and explore how best Nigeria could partner with Turkey on the production of military hardware and equipment. Badaru, accompanied by the Chief of Air Staff, Air Mashal Hassan Abubakar, visited the Turkish Aerospace Industries in the capital city, Ankara. He inspected various sections of the firm in charge of the manufacturing of modern military aircraft and other defence equipment.

In the course of taking him round the facility, the Chief Executive Officer of the company, Temel Kotel, informed the minister that the industry was established in 1973 with the primary goal of manufacturing military aircraft, satellites, and unmanned aerial vehicles otherwise know as drones. A statement by the Ministry of Defence in Abuja stated that at the conclusion of the tour, the minister commended the company for its over five decades of successful ventures in the manufacturing of military facilities. He said Nigeria would explore the possibility of partnering with Turkey in intelligence and information sharing for the mutual benefit of both countries in defence cooperation.

Otti Seeks NDDC’s Intervention to Tackle Erosion in Abia Emmanuel Ugwu-Nwogo in Umuahia Following the unrelenting ravaging of many parts of Abia State by erosion, the state Governor, Mr. Alex Otti has asked for the assistance of the Niger Delta Development Commission (NDDC) to tackle the problem. Otti tabled his request before the Managing Director/Chief Executive Officer of the NDDC, Dr. Sam Ogbuku, who paid him a working visit in company with some directors of the Commission. A press release issued weekend by the Chief Press Secretary to the Governor, Kazie Uko, said that Otti also urged NDDC to complete all its abandoned projects in Abia. Ogbuku told the governor that he was in Abia with his team for the inauguration of the Aquaculture Training Centre in Umuahia on Friday

and found it necessary to visit him. While he thanked the NDDC boss and his delegation for the courtesy visit, Otti also felicitated Ogbuku on his appointment and subsequent confirmation to preside over the affairs of the interventionist agency. Otti specifically used the opportunity to draw the attention of the CEO of NDDC to some of its projects in Abia that were left uncompleted, adding that many parts of the state were still at the mercy of the erosion menace. “In Abia we have a lot of challenges. The major ones are in few places like Aba, Umuahia, Isuikwuato and Umunneochi area – erosion," Otti said. He cited the case of the erosion site at Ovom community in Aba, which cut a road into two, creating massive gully and collapsing buildings in the area.

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NEWS

ANY LESSON FROM 147TH INTER-PARLIAMENTARY UNION GENERAL ASSEMBLY?... R-L: The Leader of the Senate, Senator Opeyemi Bamidele; President of the Senate, Senator Godswill Akpabio, and Deputy Speaker, House of Representatives receiving the senate president at the Nnamdi Azikiwe International Airport, Abuja at the weekend after attending the 147th Inter-Parliamentary Union General Assembly in Luanda, Angola

Anenih Jnr: My father Was a Disciplined, Detribalised Nigerian Emmanuel Addeh in Abuja Businessman and politician, Mr Tony Anenih (Jnr) said at the weekend in Benin that his late father and politician, Chief Anthony Anenih, was a disciplined and detribalised Nigerian who tended to the needs of all who came his way without discrimination. The younger Anenih who is the Organising Secretary of the PDP in Edo State, spoke at the fifth memorial anniversary held in Benin in honour of the late patriarch of the Anenih family of Uzenema-Arue community, Uromi, in Esan Northeast Local Government of Edo State. He said that discipline and interactions devoid of tribalism

were the virtues that made his late father to succeed in his political career and other ventures. “My father was a very disciplined person and a detribalised Nigerian, who was not influenced by political and religious inclinations in works and interactions with other people. “He was a loving and trustworthy man, who did not only give his best to develop his children and family dependents, but also extended the same gesture to his local community, political associates, the Christian faith and Nigerians at large,” he said. Anenih Jnr said that the memorial anniversary was one of the ways the family had decided to celebrate and

Isale Eko Descendants Donate Medical Supplies to Commemorate Akiolu's Birthday The Isale Eko Descendants’ Union (IDU) has extended warm congratulations to the Lagos community and beyond on the occasion of the 80th birthday of His Royal Majesty, Oba Rilwan Akiolu, the Oba of Lagos. In a press statement signed by its Chairman, Adeniji Kazeem (SAN) the IDU also announced the donation of medical supplies to the Iga Idungaran Community Health Centre to mark the birthday of the monarch. The union said the significant milestone was a testament to a lifetime of service, leadership, and unwavering commitment to their beloved community. “Born on October 29, 1943, Akiolu is a distinguished alumnus of Ansar-Ud-Deen Grammar School, Surulere, and a graduate of law from the University of Lagos. With a remarkable 32-year career in the Nigeria Police Force, he ascended to the position of Assistant Inspector-General of Police in 1999. “His glorious journey led him to be crowned as the 21st Oba of Lagos on May 24, 2003, succeeding the late Oba Adeyinka Oyekan, who reigned from 1965 to March 1, 2003,” the statement added. The IDU said Akiolu's legacy is deeply interwoven with the history and identity of Lagos, saying his reign has been marked by wisdom, grace, and a profound dedication to the well-being of his subjects. The group insisted that under his leadership, Lagos has witnessed remarkable growth and development, and the city continues to thrive as a centre of commerce, culture, and tradition. The group added remains

celebrated for his benevolence, candour, and bravery, stressing further that the monarch's impact on the lives and wellbeing of the people of Lagos and Nigeria is profound. IDU added that the retired AIG should also be celebrated for his modernisation efforts at the palace, which include the construction of a guest house, library, and health centre, adding that the Iga Idunganran Health Centre, funded entirely by the Oba, provides free healthcare services to the community. "He has also been instrumental in securing employment opportunities for numerous Lagos indigenes within the Lagos State, federal government, and private organisations. “Additionally, he has been at the forefront of the return of properties belonging to Lagos indigenes, including the iconic Tafawa Balewa Square in Lagos, from the federal government. "Our revered monarch has been a resolute and effective leader, ensuring peace and harmony in his domain through timely and astute guidance to his subjects and governmental bodies. Oba Akiolu's reign has witnessed the progress of his subjects in all aspects of human life, including the attainment of the highest offices in the nation. "As the traditional custodian of our heritage, Oba Akiolu has been a source of inspiration and guidance to Isale Eko and the wider Lagos community. His commitment to preserving our cultural heritage while also promoting progress and modernisation is a testament to his visionary leadership,” IDU said.

remember the late political gladiator and celebrate his legacies, adding that his late father’s life and times were quite remarkable. He noted how the late Anenih was able to unite politicians and all sections of the country in his tireless bid to rally other well-meaning Nigerians to build a united, very strong and formidable country. At the mass service held at the St. Paul’s Catholic Church, the officiating priest, Rev. Fr. Pascal Omolon, who prayed for the repose of the soul of the senior Anenih, also eulogised the prominent politician whom he described as a man who came to lift the Nigerian people and the Catholic Church to which he dedicated his times and resources. In a lecture that he delivered in his honour, Director of Abuja School of Social and Political Thoughts and Visiting Professor

at the Emerald Energy Institute at the University of Port Harcourt, Dr Sam Amadi, described the late Anenih, among other commendations, as a man who had demonstrated a true sense of uncommon leadership. Those who spoke at the reception included a former Governor of Delta State, Chief James Ibori, who described Anenih as an authentic leader, who deserved the moniker of “The Leader” because of the trusted and dependable leadership he provided his teeming followers. Ibori said the late Anenih was a father and a practical role model, who made him and numerous others in the politics of Nigeria. The immediate past Minister of State for Budget and National Planning and governorship aspirant on the platform of the All Progressives Congress (APC), Clem Agba, took the opportunity to urge the Peoples

Democratic Party (PDP) to cede its 2024 governorship ticket to Anenih Jnr. Agba said that was the only way to appreciate and honour the memory of the deceased politician for his immense leadership contributions to the PDP and the leaders of the party that he made while on this side. Agba, who said Tony Jnr was his very good friend, said that he looked forward to a keen electoral challenge with him (Anenih Jnr) on the PDP platform and himself on the platform of the APC. He declared that either of them was capable of lifting Edo State from its present maladministration and providing it with a much better leadership. Agba's address was a sequel to that of the State Chairman of the PDP, Dr Tony Aziegbemhin, a protégé of the late Anenih, who reeled out glowing encomiums on the late politician. Others who graced the

anniversary event included a former National Chairman of the defunct National Republican Convention (NRC) and exMinister of Foreign Affairs, Chief Tom Ikimi; former Minister of Aviation, Anthony Okpere rtd and former Minister of Works, Mike Onolememen. Also present were serving Edo Central zone senator, Monday Okpebholo; immediate past Edo Central senator, Clifford Ordia amd former member of the House of Representatives for Esan Central/Esan West/ Igueben federal constituency, Joe Edionwele. Also listed as having witnessed the event were a former chairman of Esan Northeast Local Government Area, John Yakubu; former Director General of NTA and National Orientation Agency, Dr. Tonnie Iredia, and a two-time member of the Edo State House of Assembly, Pachal Ugbome.

Olawepo-Hashim to Tinubu: It’s Time to Face Serious Job of Governance Deji Elumoye in Abuja A chieftain of the ruling All Progressives Congress (APC), Mr Gbenga Olawepo-Hashim, has advised President Bola Tinubu to face the business of governance with the affirmation of his election by the Supreme Court last week. Olawepo-Hashim, in a release issued in Abuja yesterday, while congratulating the president for the apex court verdict which validated his victory in the February 25, 2023 presidential election, urged him rescuing Nigerians from the daily grim realities they face. The former presidential candidate explained that Tinubu, as the one with the democratic mandate, has more work to do with the economy

hit by its worst inflation in over 20 years, and with the nation's currency devalued by 80 per cent in four months of his administration at the unofficial market. He added that hitting the ground running now would not be enough as the president needs to fly when needed. "The legal challenges to the outcome of the 2023 presidential election have come and gone rounding off with the verdict of the Supreme Court on sundry appeals on October 26, 2023. I want to congratulate President Ahmed Tinubu (GCFR) for a hard-won victory, " he added. He also commended former Vice President Atiku Abubakar and presidential candidate of the Peoples

Democratic Party (PDP); presidential candidate of the Labour Party (LP), Mr Peter Obi during the 2023 poll. "The dogged but civil challenges mounted by the duo after the election are important contributions to our democracy and would enrich our jurisprudence. "Both the winner and those whose petitions did not succeed at the courts must now commit themselves as leaders to the important tasks of uniting the country, securing the nation and rescuing the economy, and improving the welfare of her people,” he said. He added: "Before and after election, we had counselled severally that the post -Muhammadu Buhari administration must be a Government of National Unity

(GNU) akin to the post civil war cabinet of Gen. Yakubu Gowon, owing to the severe fracture of the polity and the horrendous damage to the economy." According to him, some people in their opinion after the election had dismissed the suggestion, arguing instead that what is needed is a government of "national competence". “The country is now impatiently waiting to see the ‘competence’ as the people's welfare take the turn for the worse," he noted. The APC chieftain also counselled that: "the opposition party which divided its rank into three and half during the build-up to the 2023 election, has a job to do if it must be relevant to Nigeria's immediate political future."

Group Registers 5,000 Pregnant Women for Antenatal, Seeks Reduction of High Mortality Rate Segun James Following the rising cases of maternal mortality in the country, a Non-Governmental Organisation (NGO), Maternal Reproductive Health Research Collective (MRHRC) is to support and fund 5,000 vulnerable pregnant women who couldn’t afford healthcare service on safe delivery. The founder of MRHRC, Prof. Bosede Afolabi gave the remark after a 5 kilometre marathon run held for the 5,000 pregnant women at the Muri Okunola Park in Lagos Island.

Afolabi said: "This project is to reduce the number of Nigerian pregnant women dying from pregnancy and childbirth because they couldn’t access healthcare services to have safe delivery.” The founder who is a professor of Obstetrics and Gynaecology at the College of Medicine, University of Lagos, lamented that much efforts had not been made towards improving the maternal mortality in the country, urging stakeholders to increase awareness on how to further minimise the cases. She argued that one of the actual causes of high rate maternal

mortality is that women were not delivering in healthcare facilities. She said: “In 2020, 82,000 pregnant Nigerian women died of pregnancy and childbirth. It is about three times more than India and India is about five times our population. So if India could reduce theirs, it is important for us to reduce ours. “ We are also letting the pregnant women know that they should go to hospital to deliver; they shouldn’t stay at home or somewhere where they are not skilled because a lot of women will die from visiting people that are not skilled.”

The don explained that the awareness campaign was a testament of her foundation’s commitment to reducing the growing numbers of death recorded yearly from maternal mortality. “Once they know they can’t afford healthcare facility, they should reach out to us, once we know it is pregnancy, we are registering them in the community and the plan for this is 5,000 women that can’t afford the healthcare service. “We have registered 300 already. If they want to register, they can go to our website : www.mrhrcollective. org,” she urged.

MONDAY OCTOBER 30, 2023˾ T H I S D AY

,NEWS

FAMFA OIL INAUGURATES CORPORATE HEADQUARTERS…

L-R: Lagos State Governor, Babajide Olusola Sanwo-Olu; the Central Bank Governor of Nigeria(CBN), Yemi Cardoso; Vice-Chairman, FAMFA Oil Limited, Folorunsho Alakija, and Chairman, FAMFA Oil Limited, Modupe Alakija, during the inauguration of the company’s headquarters named Centre Point Building in Lagos … recently

Hong Kong, France, Oman-bound Traffickers Arrested with Illicit Drugs Michael OlugbodeinAbuja Operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested two businessmen at the Nnamdi Azikiwe International Airport, Abuja, with consignments of

cocaine and heroin concealed in their bellies heading to Hong Kong and France. A statement issued yesterday by spokesman of the anti-narcotics agency, Femi Babafemi, stated that while 38-year-old ThankGod Emenike was arrested at the

Gunmen Abduct Two, Killed One in Kwara

Hammed Shittu in Ilorin

A gang of heavily armed men have reportedly abducted two persons and killed one in Ora town in Ifelodun Local Government Area of Kwara State over the weekend. Already, soldiers have been deployed to the town to maintain peace and comb surrounding bushes to fish out the criminals and rescue the victims. The incident, according to THISDAY’s checks, happened when the unknown gunmen invaded the town around 8.45

p.m., on Saturday, October 28, 2023. It was gathered that the development, however, led to the abduction of two females following the sporadic shooting that accompanied the incident. Apart from this, one person was allegedly killed by the suspected gunmen in the crossfire during the chaos and many left injured. The Kwara State Police Command Public Relations Officer (PPRO), Mr. Okasanmi Ajayi, has confirmed the incident.

boarding gate of the Abuja airport on October 20 during the outward clearance of passengers on Air France flight 818 to Paris, another passenger, 41-year-old

Agbo Chidike, was taken into NDLEA custody on October 21 while attempting to board an Ethiopian Airlines flight ET 950 to Hong Kong via Addis Ababa.

He said they were both arrested and detained after their body scan revealed they ingested illicit drugs, adding that after days in custody and a number of excretions,

Emenike excreted 72 wraps of heroin weighing 1.171 kilogrammes, while Chidike discharged 49 pellets of cocaine with a total weight of 998.53 grammes.

Nigerian Navy Launches Two Ships to Curb Oil Theft, Other Maritime Crimes KingsleyNwezehinAbuja

The Nigerian Navy has launched two ships to curb oil theft and other maritime crimes in the Niger Delta and the Gulf of Guinea, following the Minister of Defence, Badaru Abubakar’s visit to Turkey to discuss military hardware production and

other bilateral matters. The launching of the first Nigerian Navy 2x76m, 1200 tons High Endurance Offshore Patrol Vessels (HE OPVs) was held at the Dearsan Shipyard, Tuzla, Istanbul, Turkey. The newly built HE OPV P203 was launched by the Chief of the Naval Staff, Vice Admiral

Emmanuel Ikechukwu Ogalla. Badaru, accompanied by the Chief of Air Staff, Air Marshal Hassan Abubakar, visited the Turkish Aerospace Industries in the capital city, Ankara. He inspected various sections of the firm in charge of the manufacturing of modern military aircraft and other defence

equipment. The navy signed a contract with Dearsan Shipyard, Turkey, to construct two units of 76m HE OPV on November 3, 2021, and the keel laying ceremony of the two ships, which signified the commencement of their construction on September 16 2022.

Group Opposes Appointment of Chira as new Auditor-General of the Federation The appointment of Mr. Shaaka is a junior director in the office General of the Federation in the the House of Representatives, Chira by President Bola Tinubu as the substantive Auditor-General of the Federation (AGoF) has continued to draw controversy as a group, known as Worried Nigerian Citizens(WNC) has opposed the appointment. Petitions indicating that Chira

of the AGoF and that he lacked basic experience to head such a sensitive position have delayed his confirmation by the Senate. And in a new petition titled, “President Bola Tinubu should revisit the appointment of Mr. Shaaka Chira as the Auditor

interest of Nigeria Civil Service,” the WNC Convener, Moses Idika, has called for the reveres of the appointment. WNC in the petition copied the Senate President Godswill Akpabio, Chief of Staff to the President, Femi Gbajabiamila, Speaker of

Tajudeen Abbas and the Head of the Civil Service Commission, wondered why Chira who ranked the 17th amongst the 17 directors of the AGoF office should be made to superintended a sensitive post that has 16 persons who are his superiors.

House Urges Police, NMA to Comply with Gunshot Victims Act NGOs Vaccinate 20,000 Children in Sokoto Juliet relevant agencies of the executive arm timely and commendable considering in our hospitals. The House of AkojeinAbuja Onuminya InnocentinSokoto

To reduce the child mortality rate in Sokoto State, a non-governmental organisation, Sight Savers, has administered Azithromycin vaccines to 20,000 children in Wamakko Local Government Area of the state. Speaking at the event at the weekend at Kalambaina in Wamakko LGA, the Programme Coordinator of Sight Savers, Muhammad Rilwan, said the organisation took it upon itself to do it due to the increased rate of child mortality in the state. He explained that the state has recorded 25 percent child mortality rate hence the need for the vaccination, disclosing that

Azithromycin is an effective antibiotic against childhood diseases such as pneumonia, measles, and others. Rilwan noted that the drug is tested and it is effective in preventing childhood diseases, stressing that children under the age of one to 11 months would be given the drug. He noted that the first and second rounds have been given to children using Wamakko as a pilot local government area. According to him, “We gave the first and second rounds of the drug in this local government area, and the results were positive, hence the need for this third round.

The House Representatives has urged the police and the Nigerian Medical Association to follow through on this commitment to strict compliance with the Gunshot Victims Act and prosecute offenders. It also called on the media and

of government to publicise the act. In a statement jointly signed by the spokesman for the House of Representatives, Akin Rotimi and the Chairman of the House Committee on Police Affairs, Makki Abubakar Yalleman, the House viewed this development from the police as

rising complaints by Nigerians about hospitals that decline prompt treatment of victims of gunshot incidents, robberies, and even vehicular accidents who do not present police reports. “The IG’s action offers relief that value is placed on the life of every citizen and restores confidence

Representatives welcomes the recent publicised signal from the Office of the Inspector-General of Police to various formations and commands of the Nigeria Police Force on the Compulsory Treatment and Care for Victims of Gunshot Act 2017,” said the statement.

Lagos to Begin Demolition of Fences on Setbacks in Ikoyi SegunJames Following the expiration of the ultimatum issued by the Lagos government, Commissioner for Environment and Water Resources, Mr Tokunbo Wahab, has given the go-ahead to demolish all fences within two meters of setbacks along Norman

Williams,Awolowo and Ribadu roads in Ikoyi. Wahab, who was on an inspection tour of the area yesterday, said the inspection was to determine the level of compliance based on his meeting with the affected property owners whose properties fell within the drainage setback last Tuesday

at Alausa. He said following the expiration of contravention notices served on all the properties and the additional time to move the fences backwards, the Lagos government would remove the fences. Wahab, accompanied by the Adviser on Environment, Mr Olakunle Rotimi-Akodu, Permanent

Secretaries of the Office of Drainage Services Engr Lekan Shodeinde and Office of Environmental Services, Gaji Omobolaji, affirmed Lagos’ commitment to re-establish the drainage setback which was reviewed to two meters from the official three meters based on negotiations during the meeting with property owners.

Again, Polaris Wins Nigeria’s Best I’m Much Prepared to Offer Services in Ebonyi, Says Gov Nwifuru in honour of members dividends of democracy to the dividends of democracy in Ebonyi Digital Bank Award with VULTe BenjaminNworieinAbakaliki aofdinner the state judiciary for their people. State. Our government is very

Polaris Bank’s bespoke home-grown digital bank, VULTe won for the third time, Nigeria’s ‘Best Digital Bank of the Year’ prize at the prestigious BusinessDAY’s Banks And Other Financial Institutions (BAFI) Awards. Polaris Bank also went home ‘Best MSME Bank of the Year’ award at the same event. While presenting the best digital bank award to Polaris Bank, BAFI Awards organisers disclosed that the awards selection/review committee voted Polaris Bank’s VULTe the winner

having outperformed its industry peers, across eight metrics for consideration. The metrics include: strength of strategy for attracting and gaining digital customers, accelerated user engagement, success in getting clients to use digital offerings, growth of digital customers, and platform security. Other metrics are the breadth of product offerings for retail and corporate clients, evidence of tangible benefits gained from digital initiatives and web/mobile site design, intuitiveness and functionality.

Ebonyi State Governor, Francis Nwifuru, has reiterated that his government remains committed to offering quality services to the state. The governor, who stated this in Abakaliki, the state capital, during

ceremony marking the opening of their 2023/2024 Legal Year, noted that October 29, made him five months in office. Nwifuru assured the state that he would continue to provide

According to him, “On October 29, 2023, we have completed five months in office. We have not achieved what we are supposed to achieve within five months. “Sincerely, I will provide more

much prepared to offer quality service to the state. I want you to know that whether you are doing right or wrong, people must praise you because you are in office.

PDP Loses National Women Leader, Effah-Attoe ChuksOkochainAbuja

The Peoples Democratic Party (PDP) yesterday announced the death of its National Women Leader Prof. Stella Effah-Attoe. This was disclosed in a statement by the National Publicity Secretary of the party, Hon. Debo Ologunagba,

in Abuja. According to the spokesman of the party, “Our hearts bleed! Our party and nation have lost one of our best and brightest. “Prof. Effah-Attoe’s death is a huge blow not only to her family but also to the PDP, the academic community, the people of Cross

River State, and indeed the nation. “Prof. Effah-Attoe was very brilliant, towering and magnificent in all spheres, but yet lived an exceptionally humble, pleasant, sociable, gracious, compassionate, and loving life. “She touched lives in many positive ways and made pivotal contributions towards the growth

and development of our nation.” According to the statement, she was a dedicated teacher, politician, author and fearless mobiliser who always stood for the truth; fought for justice, equity, and fairness and gave her energy, passion, and resources in the pursuit of the rights of women in Nigeria.

T H I S D AY • MONDAY, OCTOBER 30, 2023

BACKPAGE CONTINUATION FINAL APPEAL TO GOD Obasanjo and he accused the Federal Military Government he headed of “perfidy.” He then devoted another eleven pages to Roman Catholic Archbishop of Lagos, Anthony Olubunmi Okogie. Again according to newspaper reports at the time, Okogie opposed Awolowo’s candidacy because he feared that if Awo won the election, he will appoint Tai Solarin, proprietor of the famed Mayflower School, as Education Minister. Tai Solarin was a professed atheist but also worrisome for Okogie, he was opposed to the return of mission schools to churches. Government had taken them over years earlier. Hence Awo berated the Archbishop, again with copious quotes from the Bible. That was apparently part of appealing to God. Now, I do not know what fora Waziri Atiku Abubakar and Mr. Peter Obi intend to use to launch their appeals to God. Part of the problem is that, unlike Chief Awolowo whose election grouse was essentially with two people, PDP and LP candidates and their supporters have been castigating every person and institution since the start of the campaign season and especially since the election. They castigated INEC, police, DSS, outgoing Buhari Administration, Central Bank [which they said deprived them of new notes but secretly gave them to APC], National Assembly, foreign powers, APC, traditional rulers, artistes, clerics, marabouts, party thugs and every tier of the judiciary. My fear is that before the Almighty God sits to hear their case, His Registrar could accuse these litigants of contempt of Court because they have already commented publicly on every aspect of the appeal. There might even be cross appeals before the Almighty. From Supreme Court judges, for instance. I have been

old enough to closely follow elections in Nigeria since 1979. In no previous case did I ever see a concerted attempt to intimidate the judiciary like in this one. The social-media campaign of “All eyes on the judiciary” was that, unless judges annul the presidential election, then they have not been just, are corrupt, have lost all integrity, and will put the country in trouble. This is similar to a football fan saying that unless his team wins the match, then the referee has not done justice. Nigerian politicians have the same mentality as Nigerian students. When a Nigerian student passes an exam, he will say, “I got an A in that course.” When he fails a course, he will say, “That lecturer failed me because we are competing for one girlfriend.” Nigerian politicians win elections on their own but someone else is responsible if they did not win. Supreme Court justices suing anyone? Sounds preposterous to our youngsters, but it happened before. In January 1993, then Chief Justice Mohammed Bello and eight other Supreme Court justices filed a libel suit against Concord Press of Nigeria [CPN]. They sought payment of N50m each in damages because of a story in the weekly newsmagazine African Concord, which alleged that military ruler General Ibrahim Babangida bribed them with exotic Mercedes Benz cars. Their Lordships’ lead lawyer was Chief F.R.A Williams, while Chief Gani Fawehinmi defended Concord Group. The justices withdrew the suit when Concord apologised to them. This time around, I cannot remember anyone specifically alleging that the election tribunal and Supreme Court judges were bribed, but in the wake of their rulings, overzealous LP social media warriors

claimed that justice was subverted. The judges will find that strange. A young fellow who is struggling to pass General Studies 101 course in a recently established private university, believes he knows the law better than men and women on the verge of retirement after many decades on the Bench? Sorry, Your Lordships. You are only tasting what we, ancient newspaper editors, have been tasting for long. Young folks barely out of their diapers, with a smart phone, long ago took over the functions of editors and are now calling the shots in storytelling. Actually, the Almighty God’s Appeal Court will be full because apart from PDP and LP candidates and Supreme Court judges, INEC Chairman and commissioners, Inspector General of Police and his DIGs and probably even the election case winner, President Bola Tinubu, will come before Him on appeal. Each and every one of them has a case. Let me tell you a secret. There is no better way to file an Appeal to the Almighty after the Supreme Court ruling then to sit down, study what went wrong and begin planning for the next election. A colleague of mine, who spent many years fasting and praying to become governor of his home state, finally wrote a letter to a bishop and complained to him that colleagues were mocking him because of his intense prayers. The bishop turned out to be more down to earth than our friend. He urged him to take practical steps to engage in politics, register with a political party, work hard in it and contest the election. Otherwise, bishop said, “the election will come and go while you are still praying!” It is not very difficult for the two leading opposition candidates to determine what went wrong. In the case of Waziri Atiku,

it was the three-way splintering of PDP. Peter Obi left with its most solid base since 1999, i.e. the South East. Nyesom Wike and four other PDP governors then took away another sizeable chunk of support, including Rivers, traditionally PDP’s biggest vote bank. It is easy to determine that cause but it is not an easy problem to solve. Why because, essentially what caused it was Waziri Atiku’s insistence of contesting, when PDP’s Southern leaders thought it was their turn to produce the party’s candidate. As for Mr. Peter Obi, his overzealous social-media supporters will ultimately settle down to the truth: he did not win the 2023 election, could not possibly have with his miniscule support in 17 Northern states, and no “mandate” was stolen from him. Obi is politically less charismatic, much less adept at planning, less vigorous, a political newcomer in relation to and with a smaller base of support than Chief Awolowo. Yet, the latter finished second in the 1979 election. The path to possible victory for Obi in the future is to enter into strategic alliances and expand his support base to all or at least most regions of the country, as President Bola Tinubu did over several decades. Social media support, however intense, cannot get him into Aso Rock because as one INEC commissioner observed, there are no polling stations on social media. As for President Tinubu, his appeal to God after the Supreme Court verdict is to thank Him for His mercies, work to maintain his 2023 support base, expand it if possible, and ensure that his election rivals do not coalesce against him by 2027, the huge mistake that President Goodluck Jonathan did in 2013-15.

renewed hope for a better future and a better Nigeria that Mr president promised them during his campaign. However, the citizens must show a keen interest in the budget-making process. Citizen participation in the budget-making process leads to a responsive budget allocation by the National Assembly, enhances good governance, and improves the delivery of public services.

The international community is waiting for the budget to see whether we are serious about shifting direction and doing things differently. They will have to judge whether it is business as usual or whether Nigeria has taken a stand to match rhetoric with actions in its bid to become an economic giant. Students of history and economics are waiting to see if this budget will be the start of a new epoch that will mark on the sands of time indelibly that this set of leaders will transform Nigeria forever. The last constituency is the National Assembly, and it behoves them to perform their oversight functions properly during the budget implementation phase and leave up to their mandate. Over the past decade, there have been concerns about the actual disbursement and effective utilisation of budgeted funds, leading to challenges in achieving developmental goals and meeting the population's needs. Ensuring effective budget implementation and accountability has been a persistent challenge in Nigeria. Corruption, mismanagement of funds, and weak institutional frameworks have hampered the efficient utilisation of budgetary allocations, undermining the country's development efforts. The Nigerian Executive and NASS have a responsibility to get things right with the new budget. If not, we are on a long road to perdition. Nigerians have expectations of the Executive and NASS regarding the 2024 budget formulation, ratification, implementation, and accountability. We expect a workable and realistic budget. We expect a cut down on the cost of governance. We expect less deficit, reduced or elimination of waste, and reduced debt profile. They must eschew all forms of budget padding, intentional duplication of projects, and deliberate creation of multiple pipelines for corruption purposes. The 2024 budget must lay the foundation for the economic growth of Nigeria by at least starting the process of diversifying the economy, addressing unemployment, and tackling poverty. We expect patriotism to drive the budget formulation process to the advantage of Nigeria and Nigerians and not the benefit of a few. We are in an economic ocean; we must either swim or sink. And swim we must!

BUDGET OF BOOBY TRAPS budgets pander towards recurrent expenditure rather than capital expenditure and infrastructural development. Besides, these insufficient capital and infrastructural projects have been fraught with challenges such as corruption, inadequate project planning, and implementation delays that have hindered the successful execution of these projects. Fourth, most budgets during Buhari's eight-year tenure have a significant slant towards social welfare, focusing on poverty alleviation, job creation, and social empowerment but the impact and effectiveness of these initiatives have been a subject of debate and scrutiny. Fifth, past budgets showed increased efforts to diversify the Nigerian economy away from oil dependence, focusing on sectors such as agriculture, manufacturing, and technology with minimal result to show for it. Overall, the Nigerian budget in the last decade reflects a mix of challenges and opportunities, highlighting the need for improved fiscal management, transparency, and sustainable economic reforms to foster inclusive growth and development. However, the most significant difficulty with our budgets is the corruption around the budget both at the formulation and implementation stages. ICPC alleged that civil servants padded 2021 and 2022 budgets with projects duplication worth over N400billion. BudgIT, a non-governmental civic organisation, also alleged that there were insertions of 6,576 “strange”projects by federal lawmakers in the 2022 budget, which bloated the budgets of different federal ministries, contributing further to a breach of the budget ceiling safeguards announced by the Budget Office of the Federation on August 19, 2021. On poor implementation of budget due to inadequate budget formulation, data collated by BudgIT has shown that only 13 out of the 36 states in Nigeria implemented 80 per cent of their budgets for the 2022 fiscal year. And the federal government has never attained 60% implementation in recent times. Most of the underspending is on Capital expenditure. Besides, for ten years, from 2012 to 2022, we have consistently earned less revenue than we budgeted, meaning we always chose the option of debt financing. The same applies to budget performance, we have always spent less than budgeted. Unrealistic budgeting has created credibility problem

Senate President, Godswill Akpabio

for Nigeria’s budget. This is even worse by the over-bloated prices for projects that bring little relief to the people. Invariably, four constituencies have lofty expectations from this 2024 budget. The citizens of Nigeria, especially the majority going through rough economic times, expect this budget to be a turning point for them. To them, it is a budget of hope – a

T H I S D AY ˾ , OCTOBER 30, 2023

MONDAYSPORTS

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

0811 181 3083 SMS ONLY

Awoniyi: Why I Left Liverpool After Six Years of ‘No Action’

Duro Ikhazuagbe with agency report

Taiwo Awoniyi has revealed why he left Liverpool after six years without playing competitive game for the Reds. Speaking before his Nottingham Forest got beaten 3-0 at Anfield yesterday, the Super Eagles forward who is just returning from a groin injury admitted that after training with the likes of Mohamed Salah and Sadio Mane, he realised he may not be able to displace any of the top stars for a place in Liverpool ‘s starting 1X. This perhaps was responsible for why Liverpool transferred him to Union Berlin in a £6.5m permanent deal in July 2021, following a succession of loans in Germany, Holland and Belgium. Awoniyi told Liverpoolecho. co.ukyesterday that his brief stint at Liverpool made him the professional footballer he is today.

He remains grateful for the role the club played in his career despite never making any appearance during his time at Liverpool. “For me, going through all those clubs and all those stages, it was all with the aim of one day being back in the Premier League,” he said. “I think in the end it was worth it, but I can say it was a tough journey. “Liverpool, I always say, is a family club. You develop as a person as well as a footballer, and I give so much credit to Liverpool for the way they looked after me, all the time I was away. I’m forever grateful for that. “It was an important period, really good for me, and it was a big reason I was able to develop into the player and the person I have.” While Awoniyi was unable to play competitively for Liverpool, he did train with the first team and was part of the squad that went to Austria for pre-season training in the summer of 2021 prior to his permanent exit. Interestingly, the 26-year-old

Nigerian international after scoring 20 goals in 43 appearances for the German Bundesliga side Union Berlin, got snapped in a £17million deal by newly-promoted Nottingham Forest for him to realise his dream of playing in the English Premier League. Awoniyi actually scored the winner for Forest against the Reds at the City Ground last October, before making his first appearance

at Anfieldas Jurgen Klopp’s side ran out 3-2 winners back in April. That outing was a dream come true for the FIFA U17 World Cup winner with Nigeria who was denied work permit during his six years at Liverpool. But looking back on the defeat, Awoniyi admits he felt mixed emotions facing his former club. “Last season playing at Anfield was a dream come true,” he said.

“Of course I probably dreamed of playing there for Liverpool before I left, so playing there against them, it was a mixed feeling, I would say.” Awoniyi started the season in a rich vein of form, scoring in each of Steve Cooper’s first three games of the campaign before recording back-to-back assists. Such a run was just a continuation from the end of last season, having returned six goals and an assist from Forest’s

RESULTS Premier League West Ham 0-1 Everton Aston Villa 3-1 Luton Brighton 1-1 Fulham Liverpool 3-0 Forest Man Utd 0-3 Man City

Lionel Messi...tipped for his eighth Ballon d’Or tonight in Paris award for last season. "I always said that the Ballon d'Or should be in two sections, one for Messi, and after that look for the other one," Guardiola said recently. "Haaland should win. We won the treble and he scored, I don't know, 50 million goals. "But of course, if you tell me the worst season of Messi, it would be the best season for the rest of the players. "Both deserve it, so what can I say? Selfishly I would say I want it to be Erling because he helped us to achieve what we achieved. I would love it." Messi's season at club level with Paris Saint-Germain was underwhelming, even if he won Ligue 1 alongside Kylian Mbappe and Neymar. He scored 21 goals for the French club, but was clearly never happy in Paris and was even jeered by his own supporters at times, before moving to Inter Miami in Major League Soccer earlier this year.

1XBET Cup: Teams Talk Tough as Ikorodu Conference Begins Ikorodu Football Community is buzzing with excitement and expectations, as the train of the maiden edition of 1XBET Community Football Championship moves into the ancient town. Ahead of the conference's matches to be played at the Landmark College Stadium in Ikorodu, players and officials of the eight teams selected to participate in this fourth conference in the series of the 1XBET Cup Championship include; Landmark FC, Vino Gano FC, Faith Football Academy, Victory Ones FC, Glory Boys FC, Lofty Skills FC, SLAS FC and Edunz International FC. They all have been upbeat about their chances to win the conference and

Premier League: City Win Manchester Derby Manchester City cruised past Manchester United with embarrassing 3-0 ease in the derby at Old Trafford to emphasise the vast gulf between the two sides. Erling Haaland was the main tormentor with goals in each half before setting up a third for Phil Foden as Pep Guardiola's side established superiority from the kick-off and rarely looked like relinquishing control. There were poignant scenes before the start as supporters from both sides of Manchester's footballing divide joined to pay tribute to the late Sir Bobby Charlton. For manager Erik ten Hag and his players, the match that followed was one to forget.

Messi Eyes Eighth Ballon d'Or Tonight Lionel Messi is the favourite to win the eighth Ballon d'Or of his remarkable career when this year's ceremony to crown the planet's best footballer takes place in Paris this evening. The prestigious award has been dominated over the last 15 years by Messi and his old adversary Cristiano Ronaldo, who have won it 12 times between them. Only two other players have won the Ballon d'Or since Ronaldo claimed his first in 2008 -- Luka Modric won it in 2018 and Karim Benzema was crowned last year following a brilliant season with Real Madrid. Messi is set to benefit from a recent change which means the award is now based on a player's record over the last season, rather than over the course of the calendar year. Last season saw Messi led Argentina to glory at the World Cup in Qatar, where he scored seven times and was named the tournament's best player. It was the crowning moment of his astonishing career, and is likely to mean Messi sees off the considerable competition elsewhere among the 30 nominees. Most notably, there are seven members of the Manchester City team that won the English Premier League, FA Cup and UEFA Champions League under Pep Guardiola. The obvious candidate among them is Erling Haaland, who scored 52 goals in 53 games and has already won the UEFA Player of the Year

final six games of the campaign to help secure their Premier League survival. Now that he’s back from the groin injury he picked playing for Nigeria at the last FIFA window, Awoniyi’s season may just be starting all over again to help Forest get away from their present 16th spot in the English topflight.

qualify for the final eight. Meanwhile, the organisers of the championship sponsored by 1XBET, one of Nigeria's leading betting company, Match International Limited led by Engr. Waidi Akanni, have promised to improve upon the organisation of the championship that has been declared as impressive and top notch, by grassroots football aficionados. Going forward into the final 8 of the championship, Odion Ighalo FC and De Elites FC, have both qualified as representatives of Epe conference, just as Bariga FC picked the ticket in the Mainland conference and Joint FC won the ticket in Badagry conference.

NPFL Abia War 1-0 Heartland Bayelsa Utd 2-1 Kwara Katsina 3-2 Sunshine Rivers Utd 1-0 Lobi Shooting 3-1 Doma Sporting 2-1 Tornadoes

Taiwo Awoniyi...eternally grateful for his six years at Liverpool

S’Falcons’ Opponents, Lucy of Ethiopia, Land in Abuja The delegation of Ethiopia’s senior women national team arrived in Abuja yesterday ahead of tomorrow’s Paris 2024 Olympic Games second round, second leg qualifying match against the Super Falcons. The 35-person delegation flew into the Nnamdi Azikiwe International Airport just at noon aboard an Ethiopian Airways flight. Meanwhile, the General Secretary of Nigeria Football Federation (NFF), Dr Mohammed Sanusi at the weekend charged the Super Falcons to work as a team and bring their A-game into the match. Sanusi spoke after watching the nine-time African champions train at the Turf Arena in the Federal Capital, and also reminded players and officials that Nigeria has been absent from the past three Women Olympic Football Tournaments and this certainly does no credit to the country’s rating as a leading global power in women’s football. “The whole world still talks about how you captivated everyone at the FIFA Women’s World Cup in Australia and New Zealand during the summer. The Government of Nigeria, the NFF and all stakeholders remain very proud of you. The NFF loves you and is happy with your outing and general conduct at the World Cup, on and off the field of play. “Now, it is time to destroy this vexed issue of Olympics jinx. The last time you attended the Olympics was in 2008, in China.

OLYMPIC QUALIFIER That was a long time ago. Missing three consecutive tournaments is enough; we have to take our place in Paris. I am happy with your game in Addis Ababa and I know you have the capacity to finish off the job here in Abuja on Tuesday.” The Falcons trained at the Turf Arena on Friday and Saturday before moving to the MKO Abiola National Stadium on Sunday. On Monday, both the Falcons and visit-

ing ‘Lucy’ will have their official training sessions on the turf of the magnificent arena. Captain Rasheedat Ajibade’s screaming half volley flew past the opposing goalkeeper for Nigeria’s equalizer six minutes into the second half at the Abebe Bikila Stadium last Wednesday, to restore parity after the home team bundled home from a corner kick in the sixth minute. Ajibade, Toni Payne, Gift Monday, goalkeeper Chiamaka Nnadozie, Omorinsola Babajide, Esther

Onyenezide, Oluwatosin Demehin, Peace Efih, and Michelle Alozie all looked very sharp in training, though Alozie was sometimes given time off to recover from the slight disorientation caused by a late knock to the face during the first leg. The winner over two legs will take on the winner of the Cameroon/Uganda fixture in the third round of the series. Uganda, who narrowly eliminated Rwanda in the first round, are in the ascendancy after defeating the Indomitable Lionesses 2-0 in Kampala on Thursday

BOWFT23: Edo Queens, Remo Stars Ladies Battle for Final Ticket Bayelsa Queens in face-off with Delta Queens for the other ticket

Adibe Emenyonu in Benin City

In what sports enthusiasts have described as a renewed rivalry, Edo Queens will today play Remo Stars Ladies in the opening semi-final game of the third edition of the Betsy Obaseki Women Football Tournament (BOWFT). The match which is scheduled to hold at the Western Boys Mini Stadium in Ikpoba-Okha LGA of Edo State will kick-off at 4pm. In a top of the billing encounter at the group stage, Edo Queens

FC secured a 2-1 victory over their Ogun State-based Remo Stars Ladies with the deciding goal recorded through a penalty on the dot of 90th minute of the tension soaked game. In the quarter-final encounter, new entrants to Nigeria Women’s Football League (NWFL), Remo Stars Ladies knocked out the defending champions of the BOWFT, FC Robo 3-1 to secure the semi-final ticket. In the second game of semifinals, Bayelsa Queens FC will

face-off with Delta Queens FC at the UNIBEN Sports Complex in Benin City by 4pm. Winners of today’s semi-final games in the BOWFT will play the final of the tournament on Wednesday, November 1stat the Samuel Ogbemudia Stadium in Benin City. Over twenty-three wives of governors and former governors will attend the grand finale of the tournament which will hold alongside the closing ceremony of the competition.

Monday, October 30, 2023

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Price: N250

MISSILE Elder Statesmen to President Tinubu “Without restructuring, the future of Nigeria and democracy remain bleak and must, therefore, be carried out immediately...as a matter of urgency, and priority, work towards the restructuring of the country and enthrone true federalism as was originally entrenched in the 1960 and 1963 constitutions" –Leaders, Elders of South-east, South-west, South-south and Middle-Belt regions task President Tinubu on national restructuring, and the economy.

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MAHMUDJEGA VIEW FROM THE GALLERY

Final Appeal to God I

n 1979, when the Supreme Court panel led by Justice Atanda FataiWilliams voted in a split 5-1-1 decision to uphold the ruling of Justice Bonyamin Kazeem-led Presidential Election Tribunal [five Justices agreed with the ruling, one Justice allowed the election on grounds of substantial compliance, one Justice upheld the appeal], UPN presidential candidate Chief Obafemi Awolowo emerged from the court room in Lagos, at which he was his own lead counsel. He took with him to the court a truckload of legal books. When he cited some of the books in his presentation, the judges asked him to deposit a copy in the Supreme Court library for their reference, because they didn’t have it. Reporters rushed to Chief Awolowo as he left the courtroom and one asked him, “Where will you appeal to now?” He said, “To God.” The men who lost their election appeal at the Supreme Court last week were nowhere as colourful. Neither Waziri Atiku Abubakar nor Mr. Peter Obi

Awolowo

made a memorable statement that will be remembered 44 years from now. Maybe it is the fault of today’s reporters, that

none of them threw a piercing question at the former presidential candidates so that they could give an equally memorable answer. Instead, their parties later issued statements saying they “rejected” the Supreme Court’s ruling. Reject it, when the Constitution said its ruling on all matters is final? Ok, since there is no court here on earth that anyone can take the 2023 election matter to, it makes sense to leave matters to God. Leaving matters to God does not mean one should do nothing. To be sure, Chief Awolowo did not leave everything entirely to God because he used other means to continue his appeal. For example, at UPN’s first convention in the Second Republic, which took place in Lagos in December 1979, Chief Awolowo read a 33-page speech, according to newspaper reports at the time. Five pages out of those were devoted to the former military Head of State, retired General Olusegun Obasanjo. UPN leaders firmly believed that Obasanjo supported NPN. They had what

they believed was concrete evidence, as reported by one newspaper at the time. In 1979 the Federal Electoral Commission [FEDECO] held five consecutive elections over a six-week period, for Senate, House of Reps, State Assemblies, Governors, and then for President. We saw General Obasanjo on TV, casting his votes in every election in order to set an example for citizens. According to that newspaper, UPN agents in the polling unit near Dodan Barracks noted the serial numbers of each ballot paper given to the Head of State. They sent the numbers to UPN agents at the collation centres, who were able to trace Obasanjo’s ballots. They said he voted for UPN three times, including for Senator Sikiru Shitta-Bey and for Governor Lateef Jakande. But in the all-important president election, he voted for NPN’s Alhaji Shehu Shagari. That’s according to one newspaper report at the time! In his convention speech, Chief Awolowo quoted numerous Biblical verses to curse Continued on page 46

DAKUKUPETERSIDE Budget of Booby Traps BENEATH THE SURFACE

here is a deafening silence in the land over the state of the economy. No right-thinking person can take this silence or mood of the nation for granted. This eery silence is invariably linked to a cost-of-living crisis, exchange rate crisis, uncanny economic uncertainties and other unfavourable economic variables hovering over Nigeria like an ominous overcast and has turned the table against the average Nigerian citizen. Today's economic realities are the byproduct of many decades of squandered opportunities and mismanagement. We are at the point where we have no choice but to get things right and bring about positive change in the renewed hope agenda of the current administration. One tool to give people hope and economic direction is the national budget, and the 2024 version of this essential national document is ripe to be laid before the National Assembly (NASS) and for NASS to do justice to it according to law and the current challenges facing the nation. This 'budget of Renewed Hope” must

depart from the norm if we are earnest about getting things right in Nigeria. However, the systems and structures that made our budgets ineffectual are still there and may succeed in pushing this new budget towards the path that destroys the essence and soul of the budget. In ordinary times, the national budget should reflect our values, priorities, pursuit of economic stability and broad growth anchors. This is even more important in a crisis period. In the recent past, this has not been our experience. National budgets have served purposes other than the one it is meant for - starting from unrealistic budget formulation, budget padding, duplication of projects, allocation of projects to agencies outside its mandate, the deliberate creation of multiple pipelines for corruption purposes, and underspending to unsatisfactory budget implementation. But these are no ordinary times. The budget must reflect the mood of the nation. People are hurting from devastating economic hardship, and the 2024 budget must be the first blueprint and anchor of hope for millions of Nigerians looking for solutions

to their many problems. My ordinary expectation is that the Executive arm would put up a budget that focuses on sectors of urgent national concern;social welfare, education, health, transportation, power, agriculture, and internal security. The budget will show the direction of this government in the next year, and the president will expect NASS to keep to the spirit and letter of the budget and not deviate from it to help him champion his renewed hope agenda. Analysing the Nigerian budget over the last decade provides insight into the country's economic trends, government priorities, and overall fiscal management. A critical review of these budgets highlights some of the negatives that have led us to our economic quagmire, and we must keep such negatives from creeping into and affecting the 2024 budget if we want it to be fit for purpose. The Nigerian budget is often influenced by factors such as oil prices, internal security challenges, infrastructure development, and social welfare programmes. However, as dynamic as the Nigerian circumstances are and the

complexities that define our economic realities, our bane comes more from structural decays and ineptitude than from the content, spirit and intentions behind the budget or the known trends that inevitably affect them. Some of these known trends are outlined below. First, Nigeria heavily relies on oil revenue, which has led to budget volatility due to fluctuations in global oil prices. During high oil prices, the budget tends to increase, leading to ambitious spending plans. However, during oil price slumps, the government often faces significant revenue shortfalls and struggles implementing planned projects. Second, Nigeria ran a deficit budget for over a decade. Nigeria's debt profile has risen in the last decade as the government has resorted to borrowing to bridge revenue shortfalls and finance infrastructure projects. The increasing debt burden has raised concerns about the country's debt sustainability, particularly in servicing these debts. Third, Nigerian Continued on page 46

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