WEDNESDAY 03RD NOVEMBER 2021 by THISDAY Newspapers Ltd

Raid on Justice Odili’s House Impunity Taken Too Far, Says Supreme Court As body of senior advocates call for thorough investigation Incident part of APC’s plot to hijack 2023 elections, PDPalleges Chuks Okocha and Alex Enumah in Abuja The Supreme Court yesterday said the raid on the Abuja residence of Justice Mary PeterOdili, a justice of the apex court and next in line to the Chief

Justice of Nigeria (CJN), was "impunity taken too far." The Supreme Court, in a statement by its Director of Information, Dr. Festus Akande, warned that the judiciary should not be misconstrued by anyone or institution of

government as the weeping child among the arms of government. It was the first reaction of the Supreme Court to the incident, which occurred on Friday. Over 50 security operatives, comprising personnel

of the Nigeria Police and the Economic and Financial Crimes Commission (EFCC), had invaded Odili’s house situated at 7 Imo River Street, Maitama, Abuja. While the action of the security agencies came under

heavy criticism, the Nigeria Police, EFCC, and Attorney General of the Federation denied involvement in the incident. Even the Magistrate, who issued the search warrant upon which the said security

operatives under the AGF acted, claimed he was misled and subsequently revoked the search order. The apex court described the action of the security operatives Continued on page 10

COP26: Buhari Targets 2060 for Net-zero Emission for Nigeria... Page 5 Wednesday 3 November, 2021 Vol 26. No 9704. Price: N250

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Furious Sanwo-Olu Visits Ikoyi Building Collapse Scene, Suspends LASBCA GM Sets up panel of enquiry as death toll climbs to 19, nine rescued IGP visits site, Humanitarian Minister mobilises NEMA Gbajabiamila, others condole with Lagos Govt Another building collapses in Lagos Segun James and Udora Orizu in Abuja As rescue efforts intensify to

try to pull out more persons from the debris of the 21-storey building, which collapsed at Ikoyi, Lagos, on Monday,

Governor Babajide Sanwo-Olu in the wee hours of today visited the scene of the incident. He had earlier ordered the indefinite

suspension of General Manager of the Lagos State Building Control Agency (LASBCA), Mr. Gbolahan Oki.

Sanwo-Olu, furious at the building tragedy arrived the site around 1.am this morning and encouraged all federal and

state agencies involved in rescue operations. Earlier yesterday, the governor Continued on page 10

Anambra Poll: Capacity to Mobilise Voters Despite Security Challenges May Be the Decider How insecurity, IPOB’s threat may undercut chances of parties, candidates Emmanuel Addeh in Abuja With voter apathy likely in Saturday’s governorship election in Anambra State, a situation occasioned by the

palpable insecurity in the state and accentuated by the fear of the Indigenous People of Biafra (IPOB), victory amongst the three big contender parties – the All Progressives Grand

Alliance (APGA), the Peoples Democratic Party (PDP) and the All Progressives Congress (APC) – might be dependent on the fallout of the recent governorship debate organised

by Arise News Channel. The difference between victory and defeat will ultimately come down to who amongst the three front runners is better able to mobilise his party's

supporters to go out and vote even as the threat from IPOB looms over the election. What this means is that the performance of each of the candidates of the three major

parties: Chukwuma Soludo of APGA, Andy Uba of APC and Valentine Ozigbo of the PDP, at the debate might ultimately Continued on page 10

GLOBAL PLAN TO SAVE THE EARTH... President Muhammadu Buhari (left) joins other world leaders, including US President, Joe Biden; UK Prime Minister, Boris Johnson; Indian Prime Minister, Narendra Modi; Canadian Prime Minister, Justin Trudeau, amongst others, during the launch of the Global Methane Pledge, hosted by the United States of America on the Sidelines of COP26 in Glasgow, Scotland... yesterday

PDP: Bandits’ Attack on UniAbuja Under Buhari’s Security Precincts Shocking... Page 8

WEDNESDAY NOVEMBER 3, 2021 • T H I S D AY

WEDNESDAY, ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

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

NEWS

BAYELSA STATE THANKSGIVING DAY... L-R: Bayelsa State Governor, Senator Douye Diri; his wife, Dr. Gloria; former governor, Senator Seriake Dickson and his wife, Dr. Rachael, during the 10th Bayelsa State Thanksgiving Day at the Ecumenical Centre, Igbogene, Yenagoa... yesterday

COP26: Buhari Targets 2060 for Net-zero Emission for Nigeria Says Nigeria has developed detailed energy transition plan Insists country more of gas than oil producing country Reiterates Nigeria requires $1.5trn in 10 years to bridge infrastructure gap Jeff Bezos hails Buhari Chiemelie Ezeobi in Glasgow and Deji Elumoye in Abuja President Muhammadu Buhari yesterday declared that Nigeria aimed to achieve net-zero emission by 2060 through its Energy Transition Plan, as against the 2050 deadline set by the United Nations (UN). Buhari said this at the high-level segment for Heads of State and Government at the on-going 26th Conference of Parties (COP26) to the United Nations Framework Convention on Climate Change (UNFCCC) in Glasgow, Scotland. This is just as American billionaire and founder of Amazon, Jeff Bezos, has commended Buhari’s leadership role in restoring degraded lands in the country. President Buhari’s speech highlighted Nigeria’s key priorities and actions to tackle climate change as well as progress on the country’s transition to low carbon economy, consistent with achieving the Paris Climate Agreement. He said, "Nigeria is committed to net zero by 2060." Buhari stated that $1.5 trillion would be required by Nigeria over a 10-year period to achieve an appreciable level of the national infrastructure stock. The president told the audience of world leaders that Nigeria was more of a gas than an oil producing country. He said the country would need financial help to facilitate the transition to clean energy. According to Buhari, “For Nigeria, climate change is not about the perils of tomorrow but about what is happening today. In our lifetime, nature has gone from a vast expanse of biodiversity to a shadow of itself. “We are investing in renewables, hydro-dams and solar projects. Nigeria is not looking to make the same mistakes that are being repeated for decades by others. “We are looking for partners in innovation, technology and finance to make cleaner and more efficient use of all available resources to help make for a more stable transition in energy markets. “The revised Nationally Determined Contributions (NDC) has additional priority sectors. Water and waste, nature-based solutions, adaptions and resilience, vulnerability assessment and a clean cooking gender and green jobs assessment.” Buhari said Nigeria had developed a detailed energy transition

plan and roadmap based on data and evidence. He stated, “Our transition plan also highlights the key role that gas must play in transitioning our economy across sectors. “The data and evidence show that Nigeria can continue to use gas until 2040 without distracting from the goals of the Paris Agreement. “Nigeria has an approved national action plan on gender and climate change. This document incorporates priority areas of our economic recovery and growth plan and nationally determined contributions. "The implementation strategy for this national action plan has been developed. In a bid to commit to transitional change through climate policy, the revised national policy on climate change was approved in June 2021. "This will enable us to implement mitigation measures and also strengthen adaption towards a sustainable climate resilient development pathway in Nigeria.” Buhari declared, “Attaining national and global climate change goal would require adequate and sustained technical and financial support to developing countries.” According to him, in the area of energy access, Nigeria’s commitment to adjust transition is reflected in its ambitious energy compact, which includes the government’s flagship project to electrify five million households and 20 million people using decentralised solar energy solutions. He said, “This is a major first step towards closing our energy access deficit by 2030… “The outcome of this conference must result in a quick resolution of all outstanding issues pertaining to the finalisation of the Paris Agreement rule book, adaption, mitigation, finance and loss and damage.” Buhari believed gas would be key in addressing the clean cooking challenge, which he said was also a challenge of deforestation, and “for giving our electric grid the stability and flexibility to integrate renewables at scale. Nigeria will need to integrate an unprecedented 7GW additional renewable capacity each year to achieve net-zero.’ On green projects in Nigeria, the president declared that federal government agencies had been directed to ensure the inclusion of projects with climate change elements in the budget.

“I am happy to state that the 2022 budget, which I recently submitted to our National Assembly, is the first cross-sectoral, gender and climate-responsive budget ever prepared in the annals of our history,” he said. The president announced that the National Assembly had also passed the Climate Change Bill, which provides a framework for achieving low greenhouse gas emissions, inclusive green growth, and sustainable economic development. Senior Special Assistant to the President on Media and Publicity, Garba Shehu, in a statement, revealed Buhari’s thoughts during a meetings on improving global infrastructure, hosted by United States President Joe Biden, EU Commission President, Von Der Leyen, and UK Prime Minister Boris Johnson, at the on-going COP26. Buhari invited the COP Leaders to see Nigeria as an investment haven saying, "Nigeria is ready for your investments in infrastructural development in the country." According to him, "My administration has established a clear legal and regulatory framework for private financing of infrastructure to establish a standard process, especially on the monitoring and evaluation process.

“We look forward to working with you in this regard." Buhari declared that his administration prioritised infrastructure expansion. He stated, "There is a nexus between infrastructural development and the overall economic development of a nation. My administration identified this early enough as a major enabler of sustainable economic development and the realisation of other continental and global development aspirations, particularly the 2030 Agenda for Sustainable Development Goals.” The president said on his assumption of office in 2015, Nigeria faced a huge infrastructure problem and the total National Infrastructure Stock was estimated at 35 per cent of Gross Domestic Product (GDP). To tackle the infrastructure deficit, he said his government embarked on a massive infrastructure expansion programme focusing on health care, education, transportation, manufacturing, energy, housing, agriculture, and water resources. “We provided more financial resources for these policies, charted new international partnerships and pursued liberalisation policies to allow private sector participation,” he said. “We introduced the revised

National Integrated Infrastructure Master Plan – a policy document that ensures our infrastructure expansion projects is cross-sectorally integrated and environmentally friendly," Buhari added. He welcomed the G7 countries for their plan to mobilise hundreds of billions of dollars of infrastructure investment for low - and middle-income countries. The president said “Build Back Better World” plan, an initiative of the G7 countries, was expected to be a values-driven, high-standard, and transparent infrastructure partnership. “It is our fervent hope and expectation that this plan will be pursued to its logical conclusion in order to bridge the infrastructural gap between the North and South," he said. Buhari also outlined the principles, values and standards Nigeria would like to see from infrastructure initiatives and the challenges the country had faced in partnering with donors on infrastructure development. He said, “The aim of pursuing quality infrastructure investment is to maximise the positive economic, environmental, social, and development impact of infrastructure and create a virtuous circle of economic activities, while

ensuring sound public finances. “This virtuous circle can take various forms in stimulating the economy.” The president added, "Domestic resource mobilisation is critical to addressing the infrastructure financing gap. Assistance for capacity building, including for project preparation, should be provided to developing countries with the participation of international organisations.” Meanwhile, Bezos pointed out that Buhari’s commitment to restore four million hectares was exemplary. Speaking during a side event that had French President Emmanuel Macron, Prince Charles and the Mauritanian President Mohamed Ould Ghazouani at the ongoing COP26 on Monday, the the Amazon founder said: ‘‘We are fortunate to have President Buhari of Nigeria with us today. ‘‘Nigeria plays a critical role in the restoration movement and has pledged to restore 4 million hectares of degraded lands. ‘‘This kind of ambition coming from Africa’s largest economy underscores just how vital this issue is.’’ The Bezos Earth Fund has a 10 billion dollar fund to allocate money to projects fighting climate change.

IOM: Over 22,500 Migrants Assisted Back to Nigeria Michael Olugbode in Abuja The International Organisation for Migration (IOM) said it has been able to assist more than 22,500 migrants back into Nigeria from 20 countries across North Africa, Middle East and Europe. The United Nations agency started operations in Nigeria in 2001 (20 years ago) by helping to return stranded Nigerian migrants from Rome, Italy. A statement from the organisation yesterday read: “Today, IOM through its Assisted Voluntary Return and Reintegration (AVRR) programme has assisted the return of more than 22,500 migrants from 20 countries across North Africa, Middle East and Europe.” IOM commenced operations upon the signing of the Cooperation Agreement with the Federal Republic of Nigeria. The agreement permits it to implement programmes in Nigeria related

to the migration of persons and provision of humanitarian aid. The statement added: “From a hand-counted team in early 2001, IOM Nigeria has grown into a 1,500-strong mission, with presence in five locations (Abuja, Benin City, Lagos, Maiduguri and Yola) and is among the biggest IOM Missions on the continent and one of the biggest UN Agencies in Nigeria.” The statement quoted IOM Chief of Mission Frantz Celestin to have said this on Monday, during a luncheon to celebrate 20 years of the organisation in Nigeria. “I am proud of my colleagues in Nigeria, who have worked tirelessly and tenaciously, some at the frontlines, in an ever-changing working environment with passion and ingenuity to support the federal government to respond to the needs of its people,” it added. Celestin said IOM’s emergency programming portfolio was diverse spanning from emergency response,

transition and recovery to migration management and migration data. He said as of September 2021, more than 1.5 million individuals benefitted from IOM WASH, shelter, non-food items, livelihoods, camp coordination and management interventions and various Mental Health and Psychosocial Support (MHPSS) services and activities in the north-east. Furthermore, it stated that IOM operates and manages two of the enablers to the humanitarian efforts in the region, the humanitarian hubs, which provide a safe space for all humanitarian actors in the deep field, and the Displacement Tracking Matrix (DTM) which is responsible for determining trends and patterns of mobility, the characteristics and needs of the affected populations. Also speaking, UN Resident Coordinator, Edward Kallon said: “IOM has been very strategic to the humanitarian response in the

North-east. They are the key players and leaders in establishment of the Humanitarian hubs. “They are playing a critical role in providing that space for humanitarian actors to be able to respond in a very complex operational environment.” The statement recalled that in 2021 more than 4,800 aid workers from 135 organisations utilised all nine humanitarian hubs and their vital services, and as a result of the unprecedented challenges in sustaining and delivering quality health care during the onset of the COVID-19 pandemic in 2020, IOM offered its medical laboratories and staff to support the establishment of the UN Severe Acute Respiratory Isolation and Treatment Facility and to date, over 7,500 individuals from UN agencies and the diplomatic community have used the testing and facilities in Abuja, Lagos and Maiduguri for diagnostic and travel purposes.

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NEWS

SECURITY ON THEIR MINDS... Anambra State Commissioner of Police, Mr. Echeng E. Echeng (left) and Chairman, Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, during a discussion held at the Commission’s State Oﬃce in Akwa… yesterday

NIPC Tracks $8.99bn Investment Interests in Q3 Unveils platform to facilitate businesses

James Emejo in Abuja Acting Executive Secretary/Chief Executive, Nigerian Investment Promotion Council (NIPC), Mr. Emeka Offor, yesterday said the agency tracked a total of $8.99 billion as investment announcements involving 33 projects spread across eight states of the federation in the third quarter of the year (Q3 2021). Speaking at the third quarter (Q3) NIPC media engagement in Abuja, Offor said the investment interests were 130 per cent higher than the $3.95 billion recorded in the corresponding period in 2020. Though not actual investments, the development tends to demonstrate a gradual boost in investors' confidence in the Nigerian economy. The NIPC boss also said the commission was putting in place a mechanism that would allow it validate the announcements as well as progress from announcements to actual investments and sustain its engagement with the sub-national governments through the State Investment Promotion Agencies (State IPAs). He said the engagement would seek to expand the current coverage

of the Nigerian Investment Certification Programme for States (NICPS). Offor said NIPC recently had an engagement with State Investment Promotion Agencies aimed at building synergy across states for regional investment promotion and sustainable economic development, building relationships with international development organisations, including UNIDO, GIZ, and Afreximbank, to build the capacity of staff as well as elevate the country's investment potentials. Offor, who also launched the commission's Single Window Investors’ Platform (SWIP), said the project which commenced in 2020, sought to enable NIPC leverage technology to better deliver on its mandate. He explained that the single window platform was an offshoot of the One-Stop Investment Centre (OSIC) which was established in 2006, with 13 participating agencies, cutting across federal, state and non-governmental organisations (NGOs) to ensure convenience, efficiency, simplicity, speed and transparency. He said through the centre, operational manuals of participating agencies, as regards processing of investment entry requirements, had

been streamlined. The executive secretary added that the virtual OSIC was envisaged to enhance its effectiveness and ensure timely service. He stressed that the commission would always strive towards excellence, adding that the foundation for transparency, accountability and proactive disclosure has been laid. He added, "We are committed to building on the successes of recent years as well as breaking new frontiers." Speaking on the investment announcement for the period under review, NIPC Director, Strategic Services, Mr. Abubakar Yerima, said August was most active during the quarter, accounting for 64 per cent of the total announcements. Yerima said the top 10 announcements accounted for 96 per cent of the volume tracked. He said compared to Q3 2020, there was a marked improvement in the level of confidence in the investing community post-COVID-19. According to him, Lagos State received the largest share of the investment announcements with 20 projects, accounting for 81 per cent ($7.29 billion) of the total in manufacturing, information and

communications, finance and insurance, human health and social services, and electricity. Rivers recorded $300 million worth of investment interest in manufacturing and transportation, while Oyo had $231 million announced in electricity and trade (e-commerce). Those states accounted for 87 per cent of the total investments. He said the top sectors with the highest announcements included manufacturing, which accounted for 42 per cent, followed by electricity, gas, steam and air conditioning

supply with 25 per cent, information and communications recorded 23 per cent as well as and transportation with seven per cent. Yerima explained that domestic investors were the most active during the period, accounting for 47 per cent of the announcements, followed by announcements from South Korea 22 per cent, South Africa 16 per cent, and the Kingdom of Spain, which recorded six per cent. Nonetheless, the report was based only on the news articles cited in NIPC’s Newsletters published

Digital Switchover Strategic to Nigeria’s Economic Growth, Says Ganduje Olawale Ajimotokan in Kano Kano State Governor, Dr. Abdullahi Ganduje has said Digital Switch Over (DSO) was fundamental to the development programme and digital economy of the country given its potential to create jobs and bring governance closer to the people. He made the declaration

yesterday in Kano, during the official switch over of the state from analogue television broadcasting to the digital terrestrial platform. Ganduje said the exercise was apt, adding as technology will present an opportunity for Kano people to have access to local, national and international space and use the content for public

Fuel Queues Lengthen in Abuja as NNPC Cautions against Panic Buying FG has no plan to migrate to any new pricing structure, corporation assures Emmanuel Addeh in Abuja and Peter Uzoho in Lagos Several filling stations in Abuja had long queues to deal with yesterday, just as the Nigerian National Petroleum Corporation (NNPC) has dispelled fear of scarcity of petroleum products, particularly petrol. In Abuja, young men were seen selling petrol to motorists in jerrycans, amid complaints by retailers that they now buy at a higher price of N153 per litres, up by N5, from the N148 recommended price. Oando filling station, opposite the Nigerian National Petroleum Corporation (NNPC) headquarters in Abuja had several motorists jostling to be served at about 1.30pm when THISDAY visited the area. The same situation was observed at the NNPC mega station on Olusegun Obasanjo Way, in zone 3, just like the fuel queues swelled in Asokoro, Maitama and other high brow areas of the capital territory, with a 10-litre container selling for about N2000. Meanwhile, NNPC has declared

that there’s no need to buy fuel in panic, stating that it has enough products to serve Nigeria beyond the Christmas and New Year celebrations. The Group Managing Director of NNPC, Mallam Mele Kyari, said the corporation has over 1.7 billion litres of petrol in the country for distribution, adding that another 2.3 billion litres would be coming into the country within the month. Kyari stated this yesterday in his keynote address at the 2021 edition of the Association of Energy Correspondents of Nigeria (NAEC)'s Strategic International Conference, held in Lagos. The theme of the conference was "Petroleum Industry Act: Energy Transition and the Future of Nigeria’s Oil and Gas." Kyari, who spoke virtually from Glasgow, Scotland, where he is currently participating at the United Nations Climate Change Conference (COP26), said NNPC’s main objective was to provide energy security for Nigeria and ensure availability of petroleum products in the country. He added that though, there

were issues around pricing at some depots, but that government has no plan to migrate to any new pricing structure. Kyari said: “As we speak now, there is speculation of fuel scarcity within the media but we have over 1.7 billion litres of Premium Motor Spirit in the country. “We have another 2.3 billion litres coming in so there is no shortage in supply as being speculated. “Of course, there are issues around pricing at some depots but government has no plan to migrate to any new pricing structure.” He, however, said the ongoing COP26 once more highlighted challenges faced by Nigeria and other African countries in the global energy transition. He said President Muhammadu Buhari, in his speech before the world leaders, had demanded for energy justice for the continent and the need to exploit the available resources as a pathway to attain the net-zero carbon objective by 2050. The NNPC boss noted that though Africa accounted for only about three per cent of the global carbon emission, the continent still

from July to September 2021. NIPC pointed out that although the investment announcement reports were not actual investments, and might not contain exhaustive information on all investment interests in the country during the period, they provided a sense of investors’ interest in the Nigerian economy. The commission also said it did not independently verify the authenticity of the investment announcements but working on tracking the announcements as they progress to actual investments.

had the responsibility to join the world in combating climate change. According to him, Nigeria has identified its abundant gas resources as its fuel for energy transition, which informed the declaration of the year 2021 to year 2030 as the Decade of Gas by the government. Kyari said: “We are making good progress in terms of the implementation of the PIA which is clearly creating the path for transition. “There is no way we can achieve this feat without adequate infrastructure to transport the resources to where it will be used and that is why we are investing in massive gas infrastructure." He listed the projects as the Obiafu-Obrikon-Oben (OB3) and the Ajaokuta-Kaduna-Kano (AKK) pipelines, which he noted, would deepen gas utilisation in the country. Also, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr Simbi Wabote, said the passage of the PIA has opened a vista of opportunities for the Nigerian oil

and gas industry. Wabote, who was represented at the event by the Director, Monitoring and Evaluation, NCDMB, Mr. Akintunde Adelana, said the implementation of PIA would impact positively on local content development and host communities. He added that the Act would also stimulate the much-needed investment to the oil and gas industry. The Chairman of the NAEC Conference and member of Nigerian Association of Petroleum Explorationists (NAPE), Mr Biodun Adesanya, lauded the setting aside of 30 per cent of the profit of the NNPC for exploration activities in the frontier basins, in the PIA. Adesanya said the discovery of oil and gas resources in other areas apart from the Niger Delta was a welcomed development which should be pursued with vigour by the country. He, however called for the appointment of competent personnel to manage the sector, noting that this was the only way Nigerians could benefit from the country's abundant oil and gas resources.

engagement. “The switch-on of Kano is exceptional because it marks the launch of the project in north’s commercial city and the second largest and booming creative hub, most populous state with over two million TV households out of the estimated 40 million TV households in the country,” he added. He said the project would harness the entertainment and creative talents abound in the region’s rich culture to be presented to the world through films and documentaries in the Kannywood, the equivalent of Nollywood in the south, which has come of age and is impacting positively on the Hausa speaking states in Northern Nigeria and those in diaspora across the globe. He, however, declared that following the launch of the DSO, analogue signals would no longer be available in Kano State effective from December this year, which implies that every household must have a Digital Set Top Box (STB) in order to receive TV signal at home. To facilitate access to signal for all, he said the state government was partnering one of the manufacturers of the decoders in the country to support indigent households in 44 local government areas in the state for the provision of 100,000 units of subsidised decoders, beginning with 10,000 units for the first phase of the supply. He added the state government has also directed the supply of 44,000 STBs to the 44 local governments at the rate of 100 per local government, with the primary health care centres, community viewing centres, government education authorities, primary and basic schools, as well as local government councils as prime beneficiaries.

WEDNESDAY NOVEMBER 3, 2021 • T H I S D AY

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NEWS

NDLEA VISITS PARLIAMENT... Speaker, House of Representatives, Rt.Hon. Femi Gbajabiamila (left) and Chairman/Chief Executive, National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Mohamed Buba Marwa (Retd), when the NDLEA boss paid an advocacy visit to the Speaker in Abuja... yesterday

PDP: Bandits’ Attack on UniAbuja Under Buhari’s Security Precincts Shocking FCT minister condemns devt, confident about rescue VC declares Nigeria is bleeding, says invasion too close home Nation’s security agencies need to modernise, insists Aregbesola Chuks Okocha, Michael Olugbode and Olawale Ajimotokan in Abuja

The Peoples Democratic Party (PDP) has condemned yesterday's attack on the University of Abuja by bandits, who abducted four members of staff and some children in the institution, saying the fact that such a development could happen under President Muhammadu Buhari’s security precincts was shocking. The party, however, described the attack as cowardly and demanded an unconditional release of the victims to reunite with their families members. Minister of the Federal Capital Territory, Malam Muhammad Musa Bello, while frowning at the abduction during a pre-dawn raid on the University staff quarters at Giri, Gwagwalada Area Council, however, assured the people that

rescue would come soon. Also, the Vice Chancellor of the university, Professor Abdulrasheed Na'Allah, who has asked members of the public to pray for God’s intervention, declared that the nation was definitely bleeding and that the invasion on the university community was too close home. On his part, Minister of Interior, Ogbeni Rauf Aregbesola, has lamented that criminals operating in the country were modernised unlike the nation’s security agencies, whom he said much changed their archaic mode of operations and modernise too. The PDP, in a statement by the National Publicity Secretary, Kola Ologbondiyan, described the raid, which occurred within the precincts of the president’s immediate security purview, just 16 kilometers from the Aso Presidential Villa, as shocking and

further showed the helplessness and failures of his administration. "With this act of banditry in Abuja, Nigerians expect President Buhari, in line with his promise to lead from the fronts, to straightaway give himself a ‘marching order’ to rescue the victims, just as gives to others whenever there are cases of security failures in commands outside of his security precincts," the statement read in part. Charging the security agencies not to relent in the face of the failures of the Buhari administration but rise up to the occasion, track down the bandits and rescue the victims, the party lamented the persistent insecurity in the nation and urged all the citizens to be at alert and assist security agencies in their genuine efforts to secure the country under an incompetent administration. The PDP enjoined Nigerians

to continue to pray for the safety and freedom of all compatriots languishing in their abductors’ den, while tasking governments at all levels to rise up to the occasion and devise more efficient strategies of securing the nation. The FCT minister, while commenting on the development, also urged security agencies to ensure that the six people, including a senior lecturer of the university, Prof. Bassey Ubom, his son and daughter, abducted by the hoodlums from the university's staff quarters were rescued from their abductors. A statement by the minister’s spokesman, Anthony Ogunleye, claimed that, patrol teams of security personnel made up of the military, police, local vigilante and the university's security officials, were currently on the trail of the hoodlums, adding that concerted

WHO, Ekiti Warn against Sudden Polio Outbreak, Set to Vaccinate Children Victor Ogunje in Ado Ekiti The World Health Organisation (WHO) has warned Nigeria against the laxity of being certified polio-free, saying the country should be vigilant to prevent sudden outbreak of the killer disease. This came as the Ekiti State government has urged mothers to present their children for the special polio vaccine that would be administered between November 13th and 16th this year, to prevent irreversible paralysis in children and contraction of type 2 and 3 viruses causing the polio disease for children below 0 and five years. A WHO expert and medical Practitioner, Dr. Eyitayo Emmanuel, said this in Ado Ekiti, yesterday, during a stakeholders' meeting, to sensitise members of the public on the upcoming special polio vaccination that would be administered on children below five years across the 16 local government areas of the state. Emmanuel described the vaccine

as the best weapon against virus that have the capacity to deform children if not properly handled. He said: "We have to be vigilant. Children must complete their doses, so that they won't be affected by any sudden outbreak. We fear about gradual returning of polio to Nigeria, because the world is now a global village. "Though Nigeria is certified-free, but Pakistan and Afghanistan are yet. We have a special vaccine that can make up for children that are susceptible and it is two doses in 30 days. "Those majorly probe to the new strain of polio are children that didn't take full dose of regular polio vaccine. There is no overdose in this special vaccine and it is different from the one being commonly administered on children." The Immunisation Officer, Ekiti State Primary Healthcare Development Agency, Mrs. Chiristianah Ajimati, said as part of efforts to ensure that children in Ekiti State and Nigeria were protected

against avoidable diseases, the state government may henceforth order the arrest of parents who resist vaccines for their children under the Child's Rights Law. Ajimati, who expressed disappointment that some mothers were resisting the oral vaccine said: "The child rights law is in place. The children have their own rights under the law and we have to enforce that. “The government can arrest any parent who refuses to allow his children to be vaccinated. But we are together here in Ekiti and that is why we are using persuasion." She also expressed displeasure that some churches and mosques that ought to play supportive roles were not cooperating, urging religious organisations to advice against such unfriendly dispositions. On the trend of vaccination in Ekiti, Ajimati added: "Moba Local government had the highest with 92.7 percentage coverage while Ado and Gbonyin local governments were the least covered.

“That is why we are adopting house-to- house campaign, visiting markets, religious centres, schools and farmsteads. "We have over 1,360 teams that will visit all the towns and villages. We appeal to CAN and Nigerian Supreme Council for Islamic Affairs to talk to churches and mosques to be receptive when our teams visit them." The Director, Disease Control, Ekiti State in the Primary Health Agency, Dr. Nicholas Ojo, said, though Nigeria had been certified polio- free, the country still needed to be proactive because of suspected cases in some states of the federation. "We must remember that Pakistan and Afghanistan that are war torn countries, are yet to get the polio-free certificate. Nigeria who is the giant of Africa shouldn't be having polio problem, in order not to happen, we have to be vigilant about all these diseases. We shouldn't allow polio returns to Nigeria. We must keep polio at zero," Ojo said.

efforts were being made to provide adequate security for all institutions of learning in the Territory. He assured members of the university community that the government would do all that was necessary to ensure the safe return of the abductees, even as he called on members of the public to always support and cooperate with the security agencies, whenever the need arose. Other abducted persons were Prof Joseph Obanza, Malam Sambo Mohammed and Dr Tobit. But the Vice Chancellor of the university, Professor Abdulrasheed Na'Allah, has asked members of the public to pray hard for God’s intervention. In a statement, Na'Allah said the school authority would continue to mobilise everything within its means to guarantee the protection of staff and students and ensure the infraction never happens again. "They brought their devastation to our Giri Quarters and we are pursuing them with all it takes to recover our dearest ones they kidnapped. Our nation is definitely bleeding and this is too close home for us! "Please pray hard for God’s intervention. One thing is certain, we shall continue to mobilise everything available to us to protect staff and students and ensure this never happens again. "The safety unit has my instruction to turn anyone back who cannot explain their mission on our campus, Quarters or any UniAbuja branches even if they claim to be staff or students.Only University ID card worn on them is a guarantee for entry. We shall overcome!" Na'Allah said. Meanwhile, speaking at the opening of a 3-day anti-money laundering and combating terrorism capacity building for the Ministry of Interior and its agencies in Abuja, said, “We must upgrade our strategies”, because the criminals are in the 22nd century in evolvement of crimes while the nation’s security agencies are in the 18th century of crime fighting. He said time has come for the government to build the capacities

of the law enforcement agencies in the country to be able to continually combat the threats of criminal elements and secure the nation. He lamented that the rise in terrorism and banditry in the country could be traced to the availability of illicit fund gotten from money laundering, which meant that to put a nail to these, battle should be waged and won against money laundering, “It is in the light of this, that the ministry and its agencies, in conjunction with the Nigeria Financial Intelligence Unit, is conducting this workshop, as part of a series of measures to build capacity and effective communication networks among policy, regulatory and law enforcement agencies, in order to strengthen the anti-money laundering and counter-financing of terrorism regime in the country. “In this regard, the Ministry, Nigeria Immigration Service, Nigeria Security and Civil Defence Corps and indeed the Nigerian Correctional Service all have key roles to play in efforts to combat money laundering and terrorism financing and proliferation of weapons of mass destruction. Our target is to ensure that relevant services in the ministry develop a cadre of professionals in AML/ CFT.” “Experience has shown that these funds are also used to undermine economic, social and political stability through funding of terrorism and terrorist related activities. As terrorism, banditry and other serious cross border crimes continue to proliferate, law enforcement agencies and regulators must work together to prevent, identify, punish and deter financial crimes. “It is, therefore, necessary to continue to take appropriate measures to enhance the capacities of our law enforcement agencies for high profile investigation and diligent prosecution, in order to meet global standards for protecting the integrity of our financial system and prevent it from being used as a safe haven for the movement of illicit funds,” he said.

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TEN RAID ON JUSTICE ODILI’S HOUSE IMPUNITY TAKEN TOO FAR, SAYS SUPREME COURT as uncivilised and a shameful show of primitive force on an innocent judicial officer. The statement said, "We are alarmed with the news of the unwarranted and despicable raid on the official residence of one of our senior justices in the Supreme Court, Hon. Justice Mary Peter Odili on Friday October 29, 2021 in a Gestapo manner. "The attack unfortunately depicted a gory picture of war by some armed persons suspected to be security operatives representing different agencies of government who seemed to have come to kill and maim their target under the guise of undertaking a search whose warrant was questionable and baseless. "We are deeply saddened and taken aback by this uncivilised and shameful show of primitive force on an innocent judicial officer that has so far spent several years of her productive life serving the country she calls her own. "This incident brought back, rather painfully, the ugly memory of the October 2016 midnight invasion of the homes of our respected justices with no satisfactory explanations as to the true motive behind such brazen assault on our collective sensibility. "We wish to make it abundantly clear that the Nigerian Judiciary is the third arm of the government of the Federal Republic of Nigeria and should be respected and treated as such.” It added, "We have had a full dosage of this fusillade of unwarranted and unprovoked attacks on our judicial officers and even facilities across the country and we say it loudly now that enough is enough. "The judiciary should never be misconstrued by any individual or institution of government as the weeping child among the three arms of government that must always be chastised and ridiculed to silence because of our conservative disposition. "Though there have emerged discordant tunes from the various

security agencies that allegedly participated in the dastardly act, we are not lying low on this dehumanising treatment meted out to one of our own." The statement disclosed that the apex court had commenced a full-scale independent investigation to unravel those behind the attack as well as their real motives. It called on the Inspector General of Police to rise up to the occasion by carrying out a discreet investigation and make his findings known to the public with a view to bringing the perpetrators to justice as quickly as possible. The statement added, "The Nigerian judiciary cannot only bark, but can also bite. We can no longer be treated with disdain and levity. The rule of law and constitutionality must govern our conduct so that we can tag along with the comity of nations and be taken seriously, too." Meanwhile the Body of Senior Advocate s of Nigeria (BOSAN), yesterday met with the Attorney General of the Federation (AGF)

and Minister of Justice, Abubakar Malami, SAN, and demanded for a thorough investigation into the siege on the house of the justice. The group, led by a foremost senior lawyer, Chief Adegboyega Awomolo, condemned the act, warning that the development is a threat to the independence of the judiciary and the nation’s democracy. They insisted that government must uncover those behind the act. The senior advocates said, "We have come to see the AGF concerning the unfortunate and ugly invasion of the residence of Justice Mary Odili of the Supreme Court last Friday by yet to be identified security operatives. "When judges' lives, careers, security and safety, when their independence is threatened, then democracy is also threatened. "The AGF has said he did not have knowledge of the incident and he had written a letter of complaint to the Inspector General of Police for a thorough investigation as demonstration

of his sincerity. "He said he is open to be investigated if there is any information that connects him to the incident. "We are going to meet with the Chief Justice of Nigeria and let him know that the Body of SANs is very concerned about the lives, security and safety of our judicial officers anywhere and everywhere. "This incident appears to be in isolation but we cannot let it be swept under the carpet. The incident must be investigated and investigated thoroughly. Nigerians are interested in this matter. It should not be politicised; it's a matter of grave, political and constitutional importance. "There are three arms of government: the executive, the legislature and judiciary. One is not supposed to be in ambush or overriding the other or threaten the other's existence, otherwise democracy is at risk.” Reacting, the AGF exonerated himself, saying he is open to investigation.

election, former Chief Justice of Nigeria (CJN), Justice Walter Onnoghen, was clandestinely yanked off from his hallowed chamber, preparatory to the massive rigging that characterised the 2019 presidential election." The PDP said Nigerians could equally recall how respected judges were assaulted by the APC administration through obnoxious sting operations in a bid to arm-twist the judiciary and set the stage for the endorsement of a culture of impunity that characterized the 2019 elections. PDP cautioned the APC and the presidency “to know that times have changed as Nigerians are not ready to stomach a repeat of APC’s coordinated assault on the institutions of democracy, but will firmly resist them with every means available within the ambit of the law.” The party also urged, “The judiciary to remain firm and not be deterred by the suppressive proclivities of the fizzling APC, that has since been rejected by Nigerians.”

ANAMBRA POLL: CAPACITY TO MOBILISE VOTERS DESPITE SECURITY CHALLENGES MAY BE THE DECIDER ride on the back of their ability to mobilise their campaign organisations, in spite of the fear of IPOB in the state. Therefore, beyond the popularity of the candidates and their parties as well as their avowed war chest, their established presence in the local politics of the state would come to play big time as the major driver of any effective mobilisation by the parties at this time of sweeping insecurity. Soludo, a former governor of the Central Bank of Nigeria (CBN), was believed to have put up a good showing and expectedly big on data, given his background. For a man, who also understood what the issues were, Soludo carefully addressed the threat constituted by IPOB and like others, declined to either

take side or condemn the group long proscribed by the federal government, after it was designated a terrorist group. The former CBN governor, who identified himself as a pan-Nigerian Igbo man, insisted that the reasons for the agitation by the group needed to be discussed, rather than the use of force. Putting it on the record one more time that he once visited Nnamdi Kanu in Kuje prison, to dialogue with him and also asked for his release the last time, he believed that everything should be put on the table in a democracy. “There’s a consensus that we need to have a dialogue on IPOB,” he said, insisting that what Anambra needed at the moment was a transformational leader, who has had a blameless

record of public service. Unfortunately, for Soludo, who is expected to ride on the record of the incumbent governor of the state, Chief Willie Obiano, the alleged failure of the current administration in different respects and Obiano’s inability to manage the ruling party in the state, APGA, as one political family, might have become an albatross for him in the election. Besides, as a governorship hopeful, many had also condemned Soludo’s disposition and mannerism at the debate, describing him as both conceited and small-minded, albeit not taking away his brilliance, intelligence and accomplishments. His closest rival, Uba of the APC, leveraged his experience as a politician, who had played kitchen cabinet politics and also

FURIOUS SANWO-OLU VISITS IKOYI BUILDING COLLAPSE SCENE, SUSPENDS LASBCA GM said an internal panel of enquiry had been set up to look into the role of government officials in charge of ensuring adherence to standards with respect to the collapsed property. The death toll from the building collapse rose to 19 on Tuesday, though nine persons were pulled out alive from the rubble. The Inspector-General of Police (IGP), Mr. Usman Baba, visited the scene of the building collapse on Tuesday. Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar-Farouq, was also at the site on Tuesday. Umar-Farouq directed the immediate mobilisation of the National Emergency Management Agency (NEMA) team from the Lagos Territorial Office to assist in the rescue operation at the site, as she condoled with the state government. Speaker of the House of Representatives, Hon. Femi Gbajabiamila, also expressed his sympathies to the government and families of victims of the building collapse. But barely 24 hours after the collapse of the 21-storey building in Ikoyi, another building under construction collapsed in the neighbouring Lekki area yesterday. At the time of filing this report, it could not be ascertained if there were casualties. But first responders were mobilised to the site of building located at Osapa London, a highbrow area of the state. The nine persons rescued from the debris of the Ikoyi building collapse on Tuesday – all men – were taken to the hospital for treatment.

"Neither the federal government nor the office of the AGF is involved in the invasion of the Abuja home of Justice Mary Odili,” the AGF said. In a related development, the Peoples Democratic Party (PDP) alleged that the invasion was part of a renewed plot by the All Progressives Congress (APC) to hijack the 2023 election. The party described the attack on Odili as horrendous, rascally, irresponsible, and unjustified, insisting that it should not be swept under the carpet on the guise of misleading whistleblower operation. In a statement by the outgoing National Publicity Secretary of the PDP, Kola Ologbondiyan, the party stated, "This is more so as the paw prints of the APC are visible in the incident, in its desperation to cow the judiciary and subvert the cause of justice ahead of the 2023 elections. "It is clear that the attack on Justice Odili is part of a renewed script by the APC. Nigerians will recall how, ahead of the 2019

"Unfortunately, 17 others were brought out dead, as at 2 pm,” the state government said in a statement. The government said more equipment and personnel had been deployed at the site to try to save more lives. The statement signed by the Commissioner for Information and Strategy, Mr. Gbenga Omotoso, disclosed that the government had set up an independent panel to probe the collapse of the high-rise building. It said members of the panel were drawn from the Nigerian Institute of Architects (NIA), Nigerian Institute of Town Planners (NITP), Nigerian Society of Engineers (NSE), and other relevant professional bodies. “It will independently investigate the remote and immediate causes of the incident and make recommendations on how to prevent future occurrence,” the statement added. However, the statement said the investigation was not part of the internal probe already being conducted by the government. Sanwo-Olu promised that the government would surely find out what went wrong and punish those indicted. The governor thanked all first responders and those who joined the rescue efforts, including construction giants Julius Berger, Chinese Civil Engineering Construction Corporation (CCECC), and NEMA. Omotoso said a help desk would be set up at the site for people seeking information about their relations who might have been involved in the incident. But he told the media that the government would be releasing information whenever the need arose to avoid sensational reporting of the unfortunate incident.

The deputy governor, Dr. Obafemi Hamzat, was at the site of the collapsed building yesterday to encourage rescuers and comfort relations of those trapped in the rubble. Hamzat also visited the Lagos Island General Hospital to see the survivors. The state government said it would embark on further foundation and borehole acidic level tests to ascertain the effect of the collapsed building. The government said, “These tests, particularly the borehole acidic level, is important for the entire Gerrard Road and adjoining areas. "We wish to state that there will be no cover-up in the search for the truth in this incident. If anybody is found to have been indicted, he or she will face the law. "It is important to restate that all developers and property owners are required to adhere strictly to all Building Codes and Planning Regulations to ensure the safety of lives and property. Those who ignore such regulations, breaking seals and defying enforcement, will surely be prosecuted." Minister of the Ministry of Humanitarian Affairs, Disaster Management and Social Development, who visited the scene of the Ikoyi building collapse on Tuesday, condoled with the state government. Umar-Farouq said, “This is tragic. I sympathise with the Lagos State government and families of people still trapped inside the rubble. “We have mobilised immediate rescue operations through the NEMA team from the Lagos Territorial Office to team up with the state SEMA. NEMA has also

facilitated the mobilisation of response involving heavy-duty equipment for rescue operations and security for crowd control. “We pray that through the rescue operatives still on the ground at the site, many of those trapped will be rescued.” The IGP came to the compound with an entourage of police cars and heavy security. Gbajabiamila, in a statement yesterday, consoled with families of the victims, saying he shares in their grief. He also sympathised with the government and people of Lagos State over the unfortunate incident. The Speaker called for adequate measures to forestall future occurrence, while urging the relevant authorities to double their efforts at rescuing those trapped in the multi-storey building. He added that it was unfortunate the building collapse happened at a time the Lagos State government was doing everything possible to make the lives of Lagosians safer. The Nigerian Red Cross Society called on emergency rescue response agencies to speed up efforts to rescue more persons who may still be alive. Chairman of Nigerian Red Cross, Lagos State branch, Adebola Kolawole, said yesterday that the rescue teams should act quickly to recover people from the rubble. Kolawole said, “They should do something fast; as fast as they can, because time is limited. If they don’t bring them out, they will be suffocated and they will eventually die. We don’t pray for that. We pray that God will bring them out and our own. “We should be able to do something fast. I just think time is of the essence so that we can do something fast.”

one who has had a whiff at the governorship seat for a few months, save for the court ruling that sacked him and reinstated former governor Peter Obi. At the debate, therefore, Uba was of the opinion that the agitation for secession had only become pronounced because of growing unemployment. In breaking down his plan, the federal lawmaker, who seemed to have an insight to some of the possibilities this weekend, stressed that voter apathy had always been an issue in the state, but posited that the situation was compounded by Governor Obiano, who had refused to engage people and consult widely on the security situation in the state. “The governor is the chief security officer of the state. Let me tell you, in this case, the governor has not done what he’s supposed to do,” he said, even though he too expressed belief in dialogue, adding that, if he eventually won, he would set up a security response team and have a public phone number that people could call to report cases of insecurity instantly. While a majority of the people believed that Uba and his party, the APC, stood to benefit more from the IPOB sit-at-home order, the governorship candidate explained that instead of condemning or supporting IPOB, Nigeria needed to sit with the agitators to know what they wanted. “I won’t support or condemn IPOB,” he reiterated for the record. Yet, many people believed the debate had inadvertently exposed Uba’s poor intellectual capacity as his answers were said to have shown lack of substance, in addition to his seeming bland personae. Aside poor articulation, he was adjudged to have mostly ended his positions on issues on rather weak notes, coming off a somewhat guileless and impractical candidate. Ozigbo, candidate of the PDP and chartered accountant, largely sold himself as young and untainted, often riding on the clause that he had never been in government before. Like the other candidates, Ozigbo too held the belief that the popularity of IPOB was clearly due to leadership failure and argued that what Anambra required was a young vibrant, trendy person, who was passionate about the state, and had served in the private sector as well as grown businesses all over the world. Specifically, on security, he held the view that what the agencies needed more was

intelligence to tackle the situation in the state, contending that the situation has only festered, because nobody has been brought to book for committing crimes. “Above security, there’s a lot we can do. There is indeed a lot we can do. Just even go back to when Peter Obi left it. Just providing money monthly to these vigilantes, paying them, providing vehicles and making sure that they are well empowered, because there’s no community that doesn’t know the criminals around them,” he argued. According to him, both the APC and the APGA, had failed the state, but promised to provide resources for vigilante groups, create employment and engage with agitators. He however, stated that the reasons for agitations by IPOB were not unfounded and went on to demand the release of Nnamdi Kanu, the IPOB leader, as well as canvassed the deproscription of the group. The former Transcorp president, who promised to cut waste, run a people’s government, curb touting, make Nnewi an industrial hub and Awka a true capital city, said the state under him would attract help from multilaterals to curb erosion, embark on recycling and ensure process improvement. These nonetheless, many people believed Ozigbo was not quick-witted in the debate, because he failed to understand that it was an entirely different platform from informal conversations, a situation believed to have prevented him from seizing some of the crucial momentums during the engagement. That aside, there are those, who argue that some of his ideas were rather too simplistic, skin-deep and impracticable to fit the concept of ideal government and address real governance issues, especially, that he devoted most of his time doing character debate, as evident in his obsession with Soludo, a co-debator, than selling his own programmes. Above all, some also believed Ozigbo was not street smart, at least from his demeanor and answers. The argument supporting this assumption is that, for a candidate, whose party was not in power at the state that is currently up for grab, or at the center, where federal might could be mustered, his devotion to fighting dirty was considered a miscalculation, particularly, when making Peter Obi, who left the state some eight years ago, his campaign issue.

WEDNESDAY NOVEMBER 3, 2021 • T H I S D AY

WEDNESDAY, ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

WORKSHOP ON INTERNAL SECURITY OPERATIONS... L-R: Commissioner of Police, Ogun State, Lanre Bankole; Commander, Amotekun Corps, David Akinremi; Governor Dapo Abiodun; Commander, Traﬃc Compliance and Enforcement Corps, Seeni Ogunyemi; Inspector General of Police, Alkali Baba and Assistant Inspector General, Zone 2, Johnson Kokumo, during the 2021 Capacity Building Workshop with the theme "Internal Security Operations in a Democratic Dispensation" held at the Lagos Continental Hotel, Lagos... yesterday

Ahead of Anambra Poll, Igbo Elders Urge IPOB, MASSOB to Embrace Dialogue Plead against turning southeast to battleground zone Demand release of detained 5,000 youths Onyebuchi Ezigbo in Abuja With three days to the Anambra State governorship election, the Igbo Elders Council in the Federal Capital Territory (FCT), Abuja, has appealed to the restive youths in the Southeast, including members of the Indigenous people of Biafra (IPOB), Movement for actualization of the Sovereign State of Biafra (MASSOB) and other similar groups, to give peace a chance by embracing dialogue. The elders, who pleaded with the youths to, irrespective of their grievances and agitation, allow a smooth conduct of the Anambra State governorship election slated for November 6, however, charged the youths not to turn Igboland into a battleground region. The elders, therefore, appealed to the federal government to order the immediate release of over 5000 Igbo youths arrested by security agencies as a means of facilitating peace process and restoration of normalcy in the South East. Addressing journalists in Abuja, Tuesday, a former Anambra State governor and leader of the Elders Council, Chief Chukwuemeka Ezeife, decried the increasing insecurity in the South East, saying it has taken a frightening dimension and remained a terrible and worrisome. According to him, insecurity in the South East was a major threat to the Anambra election, adding that some urgent measures had to be taken to douse tension and create a peaceful atmosphere in the area. "Our attention has been drawn to the increasing militarisation of the South East, and the consequent built-up tension and security challenges in the zone, thus threatening a hitch free conduct of the scheduled November 6, 2021 Anambra State elections," he said. Ezeife, who was flanked by secretary of the group, Prof. Charles Nwekeaku, said the release of over 5000 Igbo youths arrested by security agencies, and dumped in different detention camps in various parts of the country under dehumanising conditions in the name of unknown gun men, IPOB, ESN, will help calm tension and facilitate peace process and restoration of normalcy in the South East.

Ezeife referred to an alleged unprovoked military invasion of Izombe community in Oguta Local government of Imo State, where over 70 houses were said to have been destroyed by the enraged soldiers, as well as similar others in various parts of the state, had aggravated the insecurity situation in the South East. According to Ezeife, the Elders believed that political solution through the instrumentality of dialogue with all relevant stakeholders was key to the present security imbroglio in the South East. "It is our firm belief that a secured and peaceful environment is indispensable for the conduct of free, fair and credible election in any democratic state, including Anambra State. “The citizens in the South East no longer sleep with two eyes closed, as sporadic gunshots now ravage the Igbo heartland without any body accepting responsibility for this ugly development. Movement from one city to the other has become a nightmare with several police and military checkpoints littered all over the place," he said. The elders had earlier lamented the increasing insecurity in the South East, which they said had taken a frightening dimension and remained a terrible and worrisome puzzle that must be addressed for the Independent National Electoral Committee (INEC) to conduct a free, fair and credible election in Anambra State. "We, therefore, call upon the federal government to demilitarise the South East, as well as take other necessary administrative and non-kinetic measures to restore peace in the zone, thus paving way for a smooth conduct of the scheduled Anambra State election. "A journey from one part of the South East to the other, including inter and intra cities movements have turned into nightmares as several hours are wasted on short routes that ordinarily would not take more than 30 minutes. “For example, from Awka, the Anambra State Capital, to Amansea, a neighbouring community, which used to take about 10 minutes before, now takes about four hours, sometimes more than that. The story is the same terrible tale in other parts of the South East," he said.

The former governor said while the group believed that the federal government was central to the restoration of normalcy and peace in the zone, other stakeholders, including the state governments, local government councils, traditional rulers/community leaders, women and youth leaders must rise-up to the occasion of ensuring security of lives and property in Igboland. On the Anambra State governorship election, Ezeife described it as very important to the Igbo, and that credible election which was an essential ingredient of democracy, might remain a pipe dream in a tense and security-challenged environment. While charging INEC to ensure that the election was free, fair and credible, he said, "It is a collective responsibility of every lover of democracy and the rule of law to support the conduct of a credible and generally acceptable election

in Anambra State. We, therefore, appeal to the leaders of various political parties and their governorship candidates to play according to the rule, and shun violence, arson, killing of political opponents and other anti-democratic activities that are inimical to smooth conduct of elections. "We also appeal, specially to our youths, including members of the Indigenous people of Biafra (IPOB), Movement for actualisation of the Sovereign State of Biafra (MASSOP), and other similar groups, irrespective of their grievances and agitation, to give peace a chance for the smooth conduct of the Anambra State election. "The media reports that IPOB has rescinded its earlier order of the sit at home during the election deserve a special commendation. We thank them very sincerely for this patriotic decision of allowing the election to hold in Anambra

State on November 6 as planned. "We are still worried by the unprecedented senseless killings and bloodletting in various parts of the South East especially, in Imo and Ebonyi States by yet to be unmasked unknown gunmen. “The unprovoked military invasion of Izombe community in Oguta Local government of Imo State, where over 70 houses were said to had been destroyed by the enraged soldiers, as well as similar others in various parts of the state have aggravated the insecurity situation in the South East," he said. Ezeife, however, urged the people to exercise restraints in order not to aggravate the already tense situation in Igboland. "The Igbo Elders Consultative Forum shares some of your grievances and agitations, but believes that dialogue and non-kinetic measures by all stakeholders will

facilitate peace process in Igbo land. "It is not in our interest to turn Igbo land into a battleground; hence we appeal for your understanding and cooperation for a lasting peace in our land. We urge the people of Anambra State to, please, go out en masse and vote, as not to vote will be counterproductive and, ultimately, a disservice to the state and great people of Anambra State. The consequences of not voting will be unimaginable, because people who do not wish us well would use that opportunity to impose any unpatriotic element on us as a governor. “All hands must be on deck to ensure that the Anambra State election is not only free, fair and credible, but also seen by all as meeting all necessary standards. We equally call on INEC to put every necessary machinery in place to ensure a smooth conduct of the Anambra State.”

Anambra Poll: 10 Candidates Urge FG to Release Kanu Nseobong Okon-Ekong Ten governorship candidates in the November 6 governorship election in Anambra State,have jointly called on the federal government to release the detained leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, in order to contain all acts that could torpedo the election this weekend. A seven-point resolution to this effect was signed by Godwin Maduka of Accord, Ben Etiaba of Action Alliance, Akachukwu Nwankpo of African Democratic Congress, Andy Uba of the All Progressives Congress and Charles Soludo of the All Progressives Grand Alliance. Others were Onyejegbu Okwudili for Allied Peoples Movement, Valentine Ozigbo of the Peoples Democratic Party, Obinna Uzoh of the Social Democratic Party, Ifeanyi Ubah of the Young Progressives Party and Obiora Okknkwo of the Zenith Labour Party. According to them, the South-east Council of Traditional

Rulers and the Representatives of Igbo Archbishops and Bishops should be entrusted with the responsibility of producing Kanu whenever he is wanted. They also urged the federal government to take urgent steps to demilitarise the South-east zone and stem the heightened tension, skirmishes and endless bloodletting between the security agencies and youths. The Anambra governorship candidates said they were committed to non-violence

and the maintenance of peace throughout the duration of the election and beyond. The candidates made the commitment to peaceful and violence-free election in response to the concerns expressed by the South-east Council of Traditional Rulers and the Representatives of Igbo Bishops and Archbishops, and in appreciation of the general anxiety arising from recent and continuing violence, in the South-east and Anambra

State in particular. "We urge all our supporters and other stakeholders to commit fully to these ideals and refrain from any act that may imperil the election," their statement read. They, however, called on the Independent National Electoral Commission (INEC), the Armed Forces, other security agencies and all stakeholders to discharge their mandates in accordance with the law and in a fair and just manner.

Obi Cubana Spends Second Day in EFCC's Custody Kingsley Nwezeh in Abuja Popular socialite and businessman, Mr. Obinna Iyiegbu aka Obi Cubana, has spent his second day in detention. He was yet to leave the anti-graft agency last night. Spokesman of the EFCC, Mr Wilson Uwujaren, told THISDAY that the owner of popular Ibizza night club chain remained in the custody of the anti-graft agency. "All I can say is that he is still with us", he said.

THISDAY, gathered that Iyiegbu was granted bail but was yet to perfect the bail conditions. "He was granted bail. He is waiting to perfect his bail conditions", a source said. The Anambra-born tycoon, who arrived the headquarters of the EFCC at Jabi Abuja at about 12pm on Sunday was interrogated by operatives of the commission. He was alleged to be involved in money laundering and tax

fraud. Obi Cubana recently caught media attention and has trended on social media, following the recent lavish burial ceremony of his mother in Oba, Idemili South Local Government Area of Anambra State. He also recently posted on his Instagram page a picture he had with the Vice President of Liberia, Mrs Jewel Ciane Taylor, in her office, during a recent visit to Monrovia.

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T H I S D AY • WEDNESDAY, NOVEMBER 3, 2021

COMMENT

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

ANAMBRA MUST BE SAVED

Sonnie Ekwowusi urges everyone of voting age to go out and vote on November 6

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The seat at the Government House, Awka, Anambra State is not hereditary and no winner is returned to it without an election duly conducted within the time frame as stipulated by the law… it will be judicial slumber to grant an application of this nature. The election in which he was returned is an illegal exercise and the certificate of return issued to the applicant (Uba) has no backing in law…if this court grants this application, it will be setting a bad precedent and standing the law against its feet, which it has refused to do….” So held the Court of Appeal, Enugu Division, on November 13, 2009, as per Justice Nwali Ngwuta (of blessed memory) in unanimously dismissing the application filed by Andy Uba praying the appellate Court to declare him “Governor-in-waiting”. On November 13, 2009, the whole Anambra stood still anxiously awaiting the much-dreamt verdict of the Court of Appeal. A few days to the delivery of the judgment, Andy Uba and his cohorts went agog in a champagne celebration in some parts of Awka under the false illusion that the Court of Appeal judgment was in favour of Andy Uba. But when the true verdict of the Court finally came to light many Ndi Anambra heaved a sigh of relief. Many could be seen jubilating in the streets because Anambra was not captured by the Anambra juju politicians and ruffians whom Chinua Achebe referred to at that time as political renegades. The Court of Appeal judgment sealed the hope of Andy Uba in trying to capture Anambra in order to convert it into his personal fiefdom. Talking about Uba, Anambra has had a checkered political history. From the traumatic reign of Chinwoke Mbadinuju (May 1999-May 2003) to the short reign of Dame Virginia Etiaba (3 November 2006-9 February 2007), Anambra democracy was bringing out thieves, murderers, mad men, wicked men, vultures and undisciplined rabble from their hideouts and entrusting them with the sacred duty of managing the affairs of their fellow men and women in Anambra. Or, if you like, Anambra prior to the emergence of Peter Obi had been entering “one chance”. After the Supreme Court had extended Peter Obi’s tenure as well as ordered that Governorship Election would hold in Anambra in 2010, Andy Uba came out from the blues and started claiming that, by virtue of the April 14, 2007 Governorship Election in which he emerged victorious and was sworn in as Anambra Governor (He reigned for only about three weeks), he was a “Governor-in-waiting” and therefore should be allowed to bounce back as Anambra Governor. But thank God that the November 13 2009 Court of Appeal judgment truly consigned Andy Uba to where he belongs-the dustbin of Anambra political history. The judgment also cleared the coast for the February 6th 2010 Governorship Election which produced Peter Obi thus making him the first civilian Anambra Governor to enjoy a second term. Peter Obi’s second term ushered a new dawn in Anambra. It marked the glorious days of Anambra State. Under the watch of Peter Obi, Anambra State simply triumphed. It became a role model for other States of the federation. Beyond reconstruction of roads and provision of infrastructure, true human development flourished in the State. Being a sensible technocrat with no time for dirty identity politics, Obi wasted no time in returning most Anambra schools to their former missionary owners. This

IF THE VARIOUS ANAMBRA COMBATANTS, ENEMIES AND PERCEIVED ENEMIES SUCCEED IN KILLING THEMSELVES THEN THE STRANGERS HIDING IN ANAMBRA BUSHES WILL COME OUT FROM THEIR HIDEOUTS AND TAKE OVER THE PLACE AND OCCUPY IT

gesture in no distant time started yielding dividends. Anambra schools and students started to marvelously excel in WAEC, NECO, JAMB exams and other national and international educational exams and competitions. Anyway, Peter Obi’s biggest achievement as Anambra Governor, in my view, is his ability to create a new work culture and serviceable public ethics that encouraged hard work, honesty, diligence and meritocracy in Anambra public institutions. He managed to create a work culture that did not create loopholes for the flourishing of incompetence, laziness, corruption and graft. This is why Anambra voters must troop out en masse on Saturday November 6, 2021 (Anambra seems to have a pact with the alphabetical number 6. Peter Obi was re-elected February 6 2010 and the forthcoming Anambra Governorship election comes up November 6 2021) to vote for a candidate who will reenact the Peter Obi prodigy in the next four years in order to keep Anambra alive. Boycotting the Saturday Election will be tantamount to giving the Abuja-assisted thieves, murderers, vultures, mad men, wicked men and undisciplined rabble rousers in Anambra the opportunity to steal the Anambra Election. There are conflicting news/ reports regarding whether or not IPOB has called for an election boycott or ordered for a sit-at-home from November 5 to 10 2010. IPOB itself has purportedly been sending out public notices/messages to the effect that it is neither calling for election boycott nor ordering for a sit-at-home during the election. There is no doubt that the Abuja meddlers in the Anambra election are bent on creating a contrived state of anarchy or helplessness in Anambra in order to rig the Anambra election in favour of their sponsored candidate. The people of Anambra must resist this. If the people of Edo State resisted federal-assisted election manipulation and gerrymandering and fraud during the last Edo Governorship Election, the people of Anambra must follow suit. It is an insult to our collective intelligence that a State that has produced the most outstanding contemporary literary personalities and legal icons in Nigeria will be governed by a ruffian or renegade parading “Toronto” educational qualifications. Nothing will be gained in boycotting the Saturday Anambra election. Those presently killing their Anambra brothers and sisters or intimidating Anambra voters to boycott the Saturday election on ground of exercise right to self-determination should remember that participation in the political process or voting on Election Day is not incompatible with that. One thing is clear: self-determination cannot be actualized under a chaotic, ruinous, and hostile atmosphere. More importantly, when brothers fight to death strangers will inherit their land. If the various Anambra combatants, enemies and perceived enemies succeed in killing themselves then the strangers hiding in Anambra bushes will come out from their hideouts and take over Anambra and occupy it. The President of the Leadership Institute, Arlington Virginia, United States Morton Blackwell used to say to us in those days, “If you cannot pay your rent then you cannot save the world”. Analogically, if Ndi Anambra cannot save their little clans, Umunna (kindred), villages and towns in Anambra State, how can they hope to save Nigeria let alone save the world? This is why Ndi Anambra must rally round today to save Anambra from the present dangers and enemies surrounding her. Anambra must not die.

NATURAL GAS RESERVES, SEPLAT’S ENERGY AND COP26 The source of investment for our energy transitions is here at home, argues Kanya Williams

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COP” is a Conference Of Parties, an annual United Nations climate change conference, where world governments get together to make crucial decisions about what they will do about the climate crisis. The Parties in this arrangement are the world governments bound by the United Nations Framework Convention of Climate Change (UNFCCC). The COP which started in Berlin, Germany in 1995 brings these signatory governments together once a year to discuss how to jointly discuss progress on the match towards reduction of global temperature to 1.5oC. Nigeria was among the first group of developing countries that signed into UNFCCC. The country also became party to the Convention as it ratified both the Convention and its Kyoto Protocol in 1992 and 2006 respectively. Nigeria has also actively participated in UNFCCC’s activities locally and internationally. The country’s leadership is therefore well informed about the resolve and the power of COP to drive zero free carbon successfully to desired targets along the time frame and the agreed template designed. This is why attention should be paid to the Vice President enthusiasm and Seplat Energy’s carbon transition pronouncement. Initially, natural gas was counted among the green energy carriers and to be fair to Nigeria, several efforts were made grounded on its vast and highquality natural gas resources to go green. Notable among those efforts was and still is the switch from premium motor spirit to compressed natural gas as articulated by Aminat Jegede and Chidinma Egwu of KPMG. This country therefore is counted among the significant countries in Africa in the UNFCCC. What we came out to do as a nation in the transition to green world is shifting against us. The arrow is pointing disastrously against our strongest commodity in the transition – natural gas. Therefore,

our strategies, efforts, drive must out of necessity, change. I have followed with keen interest, respect and appreciation the zeal, commitment, conviction and drive of our Vice President Yemi Osinbajo to change the new tune of rich nations which is a strong headwind against our march towards green – placing a ban on natural gas investment. The VP has constituted an unprecedented and matchless force against this new shift using every arsenal within his disposal in any fora and staying focus, clear and resolute in his fight with a clear onerous target – reverse the decision on natural gas investment. In a faultless strategy, he structured an outreach pattern and rolled out the fight with tenacity and focus yet to match. This includes closed-doors meetings with COP26 President-Designate, Mr Alok Sharma, a cabinet rank British Minister and the Chair of the UK Government’s COP26 Energy Transition Council (ETC) at Whitehall. Then followed an interaction with the academic community at Imperial College including meetings with the Global Energy Alliance and presentations on the Nigeria Energy Transition Plan and Nigeria’s Integrated Energy Plan. Various fora up to the time of this publication have been exploited by the VP to deliver his targeted message. In March 2021, he was bold to ask the EU to set aside a portion of finance for gas investment in Nigeria. I subscribe to this. Few weeks following this suggestion, in May and at Columbia University global energy summit the energetic VP did not hesitate to start using his tools for the war. One of such was the 2015 Paris Climate Accord Nigeria signed into. He raised equity and justice enshrined in the Accord as tools to hit head-on, the ban on natural gas investment in developing countries. He continued with knocking at the doors of gas exporting countries to join forces together to prevent defunding gas projects in developing countries. He nudged his key ministries (Petroleum and

Foreign Affairs) to finetune Nigeria’s position for COP26, while the ministry of petroleum resources was tasked to focus on strengthening the country’s strategy particularly in its initiative to use gas as a transition fuel. The efforts are numerous, including pleas to the international community, presentation of convincing justifications for retaining natural gas in the portfolio of green energy commodities and updating the world on how Nigeria is already making efforts to use large shares of clean energy sources in its commitment to the Paris Agreement on Climate Change. Osinbajo said Nigeria is about the first African country that has developed an energy transition plan that seeks to demonstrate its commitment to the global net -zero emissions. According to the VP, in many African countries, natural gas is a crucial tool for lifting people out of poverty, as it is used not only for power but for industry and fertilizer and for cleaner cooking. What a commendable effort! But my worry with our VPs pursuit is why spend such essential energy in looking for investment from so-called rich nations while you have much more of that at home. Like they say, what you are looking for in Sokoto is in your sokoto. Recall that Nigeria earns a yearly average of US$2 billion in dividend alone from LNG, taxes not included. If this has been applied to rail infrastructure for an example, Nigeria would have provided a rail network of 40,000 kilometres within this period without borrowing a cent from anywhere. At the Nigerian International Petroleum summit this year, President Buhari informed us that LNG made US$114 billion in revenues and paid US$9 billion in taxes. If Nigeria therefore could generate so much from a segment of the oil and gas industry that is just a fragment of the entire petroleum business, how could anyone convince the world with the persuasions of our VP - no matter how intelligently

presented – that a global resolve should be unwound for this country? I am sure the VP is also fully aware of additional burdens of external financing. Besides, within this ominous stampede for green world are ripe opportunities for Nigeria. Currently, the global energy map is changing in favour of natural gas and global experts have estimated that gas would shine in all ramification for at least, the next decade. With soaring natural gas prices, Nigeria is therefore poised to gain substantial financial benefits in the unfolding market scenarios. By October this year, Bloomberg and Platts reported that gas sales prices pushed beyond US$30/mbtu in many quarters of the world. The fortunes of natural gas to Nigeria have been well articulated by Alex Otti in his ‘outside the box’ column in THISDAY. I have nothing to add to that rather than encourage policymakers and industry stakeholders to pay attention to that well packaged article. The source of investment for our energy transitions is therefore here at home. A redirection of senseless spending such as sharing of excess crude revenues to state, to accumulation of a green fund is the non-negotiable urgency required. According to President Buhari, LNG train 7 alone will add US$20 billion to government revenue. How much do we really need from these so-called rich nations that our VP would have to be sweating chasing, while we have it all at home? Of a greater concern to me is Seplat Energy’s Transition Plan for National Growth Endorsement as reported by Emmanuel Addeh. This company’s template for helping Nigeria to realize carbon neutrality in a serious business as the COP raises serious concerns than hope. Ambrose Orjiako, the company’s chairman, presented the template as replacing wood used at homes with Liquefied Petroleum Gas. Dr. Williams, Petroleum Economist, wrote from the United Kingdom

T H I S D AY • WEDNESDAY, NOVEMBER 3, 2021

EDITORIAL FIDDLING WITH THE ORONSAYE REPORT There is need to revisit and implement the report. It will cut waste in government

he fate of the Presidential Committee on Restructuring and Rationalisation of Federal Government Parastatals, Commissions and Agencies has hovered in uncertainty for years. President Muhammadu Buhari has failed to implement any of the recommendations even after a committee he established to produce a White Paper had completed its job. The lethargy about implementing the report is further compounded by the fact that several highly placed officials, including the Minister of Finance and the Director-General of the Bureau of Public Service Reforms (BPSR) have joined the Head of Service of the Federation to give conflicting views about government intention. The 800-page Oronsaye report submitted in 2012 recommended the reduction in the number of federal government agencies from 541 to 161. It also proposed mergers as an option of self-funding and freeing of funds for capital projects across the country. President Goodluck Jonathan who established the committee played games with the report without THE ORONSAYE implementing any PROPOSED REFORM WILL of the recommendaPROFESSIONALISE THE tions before he left PUBLIC SERVICE AND office in 2015. And REFORM THE COUNTRY nearly two years after ALONG A TRAJECTORY President Buhari gave THAT WILL SAVE COST AND a directive on the ENABLE EFFICIENCY IN implementation of GOVERNANCE the report, the Office of the Head of Service of the Federation has dismissed the report as ‘obsolete’ because it was submitted almost 10 years ago. The decision of the Head of Service is premised on the fact that more agencies have also been created by the current administration even though the essence of the report is to rationalise the public agencies and parastatals. However, we earnestly urge the government to implement the report given that the associated cost of running the public service is huge, unsustainable

Letters to the Editor

and a drain on the economy. For instance, the federal government has said that it will spend N6.83trillion on non-debt recurrent expenditure next year with about N4.11 trillion on personnel costs. That cost will surpass what was budgeted for the same non-debt recurrent expenditure this year by N1.18 trillion.

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

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

overnment is needlessly saddled with a heavy burden of recurrent expenditure given the significant percentage of the amount that goes into the funding of superfluous federal civil service personnel. Meanwhile, if implemented, the Oronsaye proposed reform will professionalise the public service and reform the country along a trajectory that will save cost and enable efficiency in governance. But the main concern has always been that bureaucrats who have been profiting from corruption will connive with others in the public service to ensure that the report does not see the light of the day. Last year, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) raised the alarm about the scale of corruption in the public sector despite the introduction of a series of counter strategies by government to checkmate financial crimes. Ghost workers’ syndrome, bribery, diversion and looting of public funds have continued unabated in the MDAs at the expense of national development. Specifically, the ICPC decried MDAs for habitually manipulating surpluses from the budget which are also sometimes tied down to bogus personnel costs at the end of the year, thus denying government the needed funds for critical capital projects. For instance, the Ministry of Humanitarian Affairs is a clear duplication of role and a drain on public finance. The function of the ministry could be conveniently carried out by National Emergency Management Agency (NEMA), the refugee commission and other specialpurpose intervention agencies. While we recognise the need to reduce redundancies in the public service, government should display a good example by using the report as a blueprint to cut waste in the running of the executive and other arms of government.

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

NDIGBO, IT’S TIME TO RETHINK STRATEGY

here is a popular African proverb that says: “It requires a lot of carefulness to kill the fly that perches on the scrotum”. This saying is indeed what Nd’igbo should be telling themselves especially as the Anambra Gubernatorial election draws near, and more importantly the 2023 general elections. In the recent past, the clamour for secession in Southern Nigeria has grown even stronger especially in the South East and South West regions of the country. A lot of reasons could be attributed to this clamour but it is instructive to note that this is not the first time that Nd’Igbo is asking to leave the Nigerian state. Recall, this same agitation led to the Nigerian civil war of 1967, during which millions lost their lives and means of livelihood. Till date, the pains of the war are yet fresh in the minds and hearts of an average Igbo man or woman. Especially, when he recounts the things they lost during what some had described as holocaust. In 1999, as Nigeria ushered in the new democratic dispensation, there also came the emergence of Movement for the Actualization of the Sovereign State of Biafra (MASSOB) which essentially is a secessionist group demanding the recreation of an independent state of Biafra through peaceful dissolution of the country. The federal government tried to quell the agitation as there were several arrests of the leaders and propagators of the movement. There were even alleged reports of extra judicial killings of MASSOB members. This group has however fizzled out, and in its place today, the Indigenous People of Biafra (IPOB). According to the leader of the group, Mazi Nnamdi Kanu, IPOB came to existence because it criticised the Nigerian government for

poor investment, political alienation, inequitable resource distribution, ethnic marginalization, over-militarisation and extra-judicial killings in the South-East. Unfortunately, the Buhari-led administration did not make matters any easier when upon assumption of office in 2015, he said during an interview that “constituencies that gave me 97% cannot in all honesty be treated equally, on some issues, with constituencies that gave me 5%, I think these are political realities”… Sadly, this declaration set the tone on how the South East would view his government knowing full well that they voted for the opposition party. We have seen how the federal Government gave several excuses as to why they can neither proscribe bandits nor describe them as terrorists. Yet, we saw the ‘speed’ at which IPOB was proscribed on the grounds that it is a terrorist organisation. Things like these fiercely fuel the narrative of some people being more Nigerian than others. With only a few days to the Anambra gubernatorial election scheduled for November 6, it is becoming worrisome as to how the Independent National Electoral Commission (INEC) would be able to conduct the election as it has been very difficult to even move around to campaign as groups believed to be IPOB members have called for the boycott of the election. Prior to now, IPOB has almost institutionalised Mondays as sit-athome days in solidarity with its leader, Kanu who is currently standing trial for treason and terrorism charges. This ‘order’ has led to huge economic losses as business activities are grounded every Monday. The determination to enforce this ‘order’ had led to loss of lives and properties. We cannot continue to “cut our noses to spite our faces” while calling for a just society. As the First Vice President of Nnewi

Chamber of Commerce, Industry, Mines and Agriculture (NCCIMA), Chief Moses Ezukwo said, the development has robbed the zone of over N50 billion as of September, 2021. It must be noted that the entire leadership (Governors) have not done the barest minimum in tackling the issues besetting them. As it appears, what they seem to be interested is their next political career/ move. The Ebube Agu security project was dead on arrival. They are evidently not committed. And that explains why the Eastern Security Network (ESN), the military arm of IPOB seems to have thrived because there was a vacuum which needed to be filled. I have often asked if Ohanaeze Ndigbo, the apex Igbo socio-cultural group isn’t a ‘toothless’ organisation, how has it been able to articulate its position to the South East governors and by extension the federal government on the agitations of its people? Beyond the contact meetings and sound bite communique being issued, I think it is time they set an agenda and follow it through by engaging with the relevant authorities. The sit-at-home order has got to stop. Businesses, lives are being lost as your kith and kin need to start living their lives and not be scared of being labelled as a ‘saboteur’ as this has led to some mindless killings. The Igbos cannot continue to alienate themselves from mainstream politics while hoping to produce the next president. I sincerely hope the Anambra election be used as a litmus test to the restoration of sanity in the South East and while calling on the security to be responsible and professional in the discharge of their duties come November 6, 2021. Ijeoma Njoku, a communication consultant, can be reached via vaceejones@yahoo.com

WEDNESDAY NOVEMBER 3, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY NOVEMBER 3, 2021

MIDWEEKPOLITICS

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

Anambra Election Debate Session of Mud Slinging Nseobong Okon-Ekong and Vanessa Obioha dissect the recent televised debate of governorship candidates of the three leading political parties in the November 6 Anambra State governorship contest and reveal that it was disappointingly a continuation of bitter rivalry

Soludo

he recent ARISE News Channel Anambra Governorship Debate may be misleading to anyone tuning in at that moment. The debate which was organised in conjunction with the Enough-is-Enough (EiE) group saw the candidates of the All Progressives Congress (APC), All Progressives Grand Alliance (APGA) and Peoples Democratic Party (PDP) discuss their plans and projects if they assumed the number One seat in the state. Expectedly, they had divergent views on the various topics; the candidates, Senator Andy Uba of APC, Professor Chukwuma Soludo of APGAand Valentine Ozigbo of the PDP, however, spent more time dragging themselves in the mud of infamy than selling themselves to the electorates. For most part of the over two-hour debate, Soludo and Uba pointed fingers at each other, rather than proffering solutions to problems. They argued over insecurity, when Soludo brazenly hinted that the current wave of violence and killings in the state is a machination of Uba, apparently referencing the 2003 abduction of Senator Chris Ngige who was governor of Anambra State at the time. One of Andy brothers was fingered as the mastermind of the forceful seizure of Ngige, who is now Minister of Labour and Employment. “There are some people who think that they gain political advantage by creating a sense of fear and insecurity so that you will have voter suppression,” Soludo stated.

Uba Denying the allegation vehemently, Uba insisted that he is not a violent person and could not be found behaving violently. While condemning the current governor, Willie Obiano for his lacklustre handling of insecurity, Uba reiterated his believe in engaging with the identified non-state actors as a way of restoring peace and order in the state. But Soludo, who appeared to have come with a can of mud to sling at Uba, refused to back down. He argued that Uba only engages when he is running for elections. He queried his intervention in the security situation of the state during his term as a Senator. “You were in the Senate for eight years and not one word about IPOB and the agitations in the South-east (was heard from you). You only engage when you want to run for an election,” he said. Elaborating on insecurity, Soludo, again, accused Uba of entrenching a legacy of violence in the state, which he pointedly associated with the PDP. Turning his attention to Ozigbo, Soludo mocked his inability to quote the accurate statistics in his submission on the state of unemployment in Anambra. Uba may not have the oratory prowess of Soludo but he was not easily cowered. Defending his name, he asked Soludo to show evidence that he was involved in the kidnapping since his name was not included in the White Paper that was rreleased after the kidnapping. Not done with Uba, Soludo

Ozigbo again attacked him on his school certificate. Security has been a challenging topic in the upcoming elections, following the unrelenting wave of violence the state in the past few days. But it is not peculiar to Anambra as other parts of the country have witnessed one form of violence or the other. Therefore, it may provide some form of comfort to those who have legitimate duties and voters to know that security agencies are prepared to ensure smooth conduct of the Anambra governorship contest. While the Nigeria Security and Civil Defence Corps (NSCDC) is deploying 20, 000 officers and men to complement sister-security agencies in ensuring a free, fair and credible election in the state, the Independent National Electoral Commission (INEC) disclosed that it will not be deploying electoral materials and personnel in 86 of the 5,720 polling units. The insecurity challenge, many believe will lead to a low voter turnout. Coupled with the unabating heightened state of insecurity, many election monitors have concluded that it is almost impossible to guarantee a free and fair election. Since the current democratic dispensation began in 1999, Anambra has not recorded up to 50 per cent voter turnout in governorship election, a point duly noted by Uba. The only time it managed to record such participation was in 2007 but the election was mired in rigging controversies. Reports

showed that since 2007, the voter turnout in the state has been on a progress decline. In the 2010 elections, only 302,000 voters out of the 1.84 million that registered came out to vote. In 2013, the governorship elections only recorded 24 per cent of the 1,770,127 registered voters. In 2017, only 22 per cent of voters took part in the Anambra election. The number of registered voters at that election was 2,064,134. The Independent National Electoral Commission (INEC) last month revealed that the number of eligible voters to participate in the November 6 election was 2,525,471. According to the INEC Chairman, Prof. Mahmood Yakubu, the electoral umpire arrived at the figure after adding the 77,475 valid registrants at the end of the first quarter of the Continuous Voter Registration (CVR) to the state’s voters’ register which had 2,447,996 eligible voters used for the 2019 general election. The South-eatsern state is estimated to have a population of 11,400,000. Therefore, the number of registered voters in the state therefore is just a trickle. The low voter registration can be traced to lack of voter information campaigns. According to Yiaga Africa, a group that monitors elections and canvasses for voter registration, only 14 out of the 21 local government areas in the state carried out voter information campaigns. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Obi, Obiano Renew Battle as Anambra Election Holds Saturday David-Chyddy Eleke reports that the Anambra governorship election has pitted former governor, Mr. Peter Obi against his successor, Chief Willie Obiano.

aturday’s governorship election has again renewed the ego war between the former governor of Anambra State, Mr. Peter Obi and the incumbent governor who succeeded him, and who he played a big role in his emergence as governor in 2017, Chief Willie Obiano. Both men have been very busy in what can be described as last minute campaigns as they drum support for their candidates the impending governorship election. While former Governor Peter Obi is in the forefront of the campaign for the candidate of Peoples Democratic Party (PDP), Mr Valentine Ozigbo, Obiano has expressed his commitment to ensuring that the candidate of his party, All Progressives Grand Alliance (APGA), and former governor of Central Bank of Nigeria, Prof Chukwuma Soludo is elected as his successor. Obi and Obiano had parted ways shortly after the swearing in of the later on March 17, 2013, when rumours crept in that Obi was demanding a certain amount of money as either compensation for installing him or refund of monies spent on running his campaign. But Obi denied making any demand on the

governor, insisting that he left behind the humongous sum of N75 billion in the state coffers and that if he needed any money as compensation, he would long have deducted it before Obiano’s swearing in, and bequeathing him the remainder without any fuss. Acting on the revelation that Obi left N75 billion for him, Obiano’s aides quickly held a press conference, discountenancing Obi’s claims, stating that the money referred to were shares and assets procured by the former governor, most of which they said were fixed for particular number of years and as such can not even be accessed. They stated this as a reply to allegations that Obiano had squandered the money upon assumption of office. The cold war had defied interference from top rated traditional rulers in the state, bishops of the major churches in the state and members of the state’s elders council, until Obi eventually took his exit from APGA, a party he funded for years and stood as its highest political office holder. During the run up to this Saturday’s

election, both men had played very active roles in the emergence of the candidates of their various political parties in ways that angered other aspirants from the parties. Obi in his normal way refused to state his preference for any of the about 18 contestants for the ticket of the PDP, even though they openly wooed him. However, the emergence of Mr. Ozigbo as candidate of PDP has been attributed to him, with some aspirants of the party decamping to other political parties to further their aspiration, or just to spite Obi and his candidate. One of the decamped aspirant, Dr. Obiora Okonkwo who moved to Zenith Labour Party (ZLP) told journalists that Anambra can not return to the days of political godfatherism, after having fought against and overcome it many years ago. He said he is the only candidate who has no godfather, but believed only in God Almighty. Obiano also is clearly responsible for the emergence of Prof Soludo as the candidate of APGA. About six aspirants of the party

who were seen to be strong competitors of Prof Soludo were disqualified under controversial circumstances, and many believe that the action was to pave way for Soludo to emerge. This caused a rancour in the party leading to three separate primary election, which also involved litigations that went all the way to the Supreme Court level, even though Soludo later won. The support of the governor has also been interpreted to mean another way of installing godfatherism in the state’s politics. As election holds on Saturday, the two men are no longer hiding their hand in the attempt to make governors. Obi, who has joined the Ozigbo team to a lot of communities for campaign stated in a recent visit: “Nigeria is collapsing, Anambra is collapsing, and our only problem is the habit of installing incompetent people in leadership positions. In Valentine Ozigbo, Ndi Anambra has someone who cannot afford to fail. Vote for him; he will not disappoint.” NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY NOVEMBER 3, 2021

POLITICS

The North-central Quest for APC Presidential Ticket

GOVERNANCE IN PHOTOS

Nseobong Okon-Ekong writes that Governor Yahaya Bello and Mr. Gbenga Olawepo-Hashim are leading the charge of the North-central to demand the presidential ticket of the All Progressives Congress

Mr. Gbenga Olawepo-Hashim (left), a chieftain of the All Progressives Congress during a courtesy visit to Governor AbdulRahman AbdulRazaq of Kwara State at Government House, Ilorin

Bello

Olawepo-Hashim

presidential candidate, since Buhari is from Katsina, a North-west state. In fact, certain elements within the party would rather the APC does not consider the North at all for its presidential ticket and that is talking about those who see the country purely as a two-sided coin; North and South. But the suggestion for a Nigerian president of Southern extraction to succeed Buhari has become.e a clamour across ethnic and partisan divide. Earlier in the year, the 17 governors from Southern Nigeria met and decided that it will, as a group, push for a Southern president in 2023. Nothwithstanding, the North-central is making a very strong case; with persuading statistics that the region has never had one of its own serve as elected leader of the country. In the APC, Governor Yahaya Bello of Kogi State has not hidden his intention to take a shot at the presidency. During the revalidation of membership exercise of the APC, Bello worked assiduously to win more converts into the party by taking copious advertisements in the media to sell APC to Nigerians. Apart from the laudable transformation of the Kogi landscape which he is credited with, Bello is said to be the architect of the big gains recorded by the party with the defection of three erstwhile PDP governors to APC. The Kogi State Governor has become APC’s Poster Boy for youth inclusion in governance. His closeness to Buhari has been touted by some of his admirers as discreet mentorship. On the other hand, Mr. Gbenga OlawepoHashim, a shrewd businessman and grassroots politician is seen as a bridge and consensus builder, who has the natural advantage of multi-ethnic heritage, an early headstart in youth activism and student unionism which catapulted to early international exposure to world leaders and eventually as the First Deputy National Publicity Secretary of the PDP. He has tacitly positioned himself as a strong political force in the North-central. His recent return to the APC has been described as a homecoming, even by Buni, who told him to consider himself as a foundation member of the party, owing largely to his antecedents, as many with whom he shared political space in the early days of this political dispensation are now in the APC. But the North-central is as well making a push for the National Chairman of the APC with the the likes of Senator Sani Musa from Niger State, Senator Tanko Al-Makura from Nasarawa State and Saliu Mustapha from Kwara State. In the coming days, it will be interesting to see how Governor Yahaya Bello and Olawepo-Hashim proceed with their campaign to convince their compatriots to drop the ambition to lead the party, but rather support either of them to clinch the presidential ticket of the APC.

ne of the hottest topics on the Nigerian political scene today is, undoubtedly, who succeeds President Muhammadu Buhari in 2023. While many political pundits have narrowed the search to candidates from either of the two leading political parties; the ruling All Progressives Congress (APC) and the main opposition party, the Peoples Democratic Party (PDP), some incurable optimists see the unlikely emergence of a well-loved candidate from one of the political parties positioning itself as the Third Force. The selection process for a presidential candidate in the APC will particularly be tasking; suggesting that it could prove to be tougher and more tricky than when the different parties collapsed their structures to form the APC in 2013. The emergence of Buhari, thereafter as the presidential candidate and his subsequent triumph in the 2015 presidential election and reelection in 2019 were easy to manage owing to the towering persona of Mr. President and the respect accorded his office. Following the sack of Comrade Adams Oshiomhole-led National Working Committee (NWC) of the All Progressives Congress (APC) on June 25, 2020 after a protracted leadership tussle and the subsequent inauguration of the Caretaker/Extraordinary Convention Planning Committee of the party led by the Governor of Yobe state, Mai Mala Buni, a lot of alliances have been forged within the party ahead of its ational convention. The Buni CECPC was initially tasked with a six-month assignment which has now been extended for the umpteenth time.However, each passing week renders the inexplicable extension of the CECPC vexatious to many members of the party. With its ward, local government and state congresses over, all attention is on the impending national convention of the APC, where its national officers will emerge. Depending on which geo-politocal zone of the country, the APC national chairman comes from, the party’s presidential candidate may not come from the same region as the national chairman. This practice, called zoning, even if it is not known to the Nigerian constitution has become an accepted practice among the Nigeria political class. However, the delineation of this zone is often a subject of controversy. While some politicians see only two zones-north and south, others group the component states in the country into the three major ethnic groups of Hausa/Fulani, Yoruba, Igbo and the Soithern minorities; making four groups. A third grouping of Nigerian states which has become established is the six geopolitical zones; North-central, North-west, North-east, South-west, South-south and South-east. Going by this grouping the APC may not be looking to the North-west for its choice of

L-R: Lagos State Co-ordinator, Small and Medium Enterprise Development Agency of Nigeria(SMEDAN,), Mr. Yinka Fisher Representative of Director General of SMEDAN,Mr. Wale Fasanya; Member, House of Representative, Representing Ikeja Federal Consistency and Organizers, Hon. James Faleke; presenting certificate and cash to one of the beneficiaries of the empowerment, Mr. Hakeem Akani Olaleye, during the Presentation of Certificate of Entrepreneurship Development and other Enterprises Support Training Programme for Women and Youth across Ikeja Federal Consistency PHOTO: ETOP UKUTT

Left to Right: former Anambra Governor Peter Obi, Rt. Hon Mike Ugwa, a former deputy speaker of Anambra State House of Assembly and Valentine Ozigbo, the ﬂag-bearer of the Peoples Democratic Party (PDP) in the Anambra State Governorship Election on November 6 election pictured at the welcome ceremony for Ugwa who decamped from the All Progresses Party (APC) to the PDP

L-R: Ekiti State Commissioner for Infrastructural and Public Utilities, Engr. Bamidele Faparusi; Ekiti State Governor, Dr Kayode Fayemi; Director-General, Oﬃce of Transformation and Service Delivery (OTSD), Prof Bolaji Aluko; and Project manager, Fenchurch Power, Mr Femi Bakare; during the falg oﬀ of the 5MW IPP project in Ado-Ekiti

T H I S D AY ˾ WEDNESDAY NOVEMBER 3, 2021

FEATURES

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

Creating Awareness on Need to Preserve Rivers from Pollution The importance of rivers as a source of water to mankind cannot be overemphasised. Little wonder workers of Benin-Owina River Basin recently trooped out to create awareness on the need to preserve the rivers from pollution. Adibe Emenyonu, who was at the event, captured the essence surrounding the celebration

Ikpoba River in Benin City, Edo State

Staﬀ of BORBDA, cleaning the bank of Ikpoba river as part of activities making World Rivers Day

Managing Director, BORBDA, Saliu Ahmed planting a cashew tree during the World Rivers Day ceremony in Benin City

Awareness campaign by staﬀ of BORBDA as party of activities marking the World Rivers Day celebration in Benin City

orld Rivers Day is one of the largest environmental celebrations on the planet earth. It is celebrated every fourth Sunday of the year. This year's celebration was however marked on September 27, with a detailed message attached to it. Therefore, given the importance of rivers to human existence and development, Nigeria joined numerous other countries to celebrate the day in various locations nationwide. The celebration, which is a maiden edition in Nigeria, was organised by the Federal Ministry of Water Resources through the Department of River Basin Operations and Inspectorate. The World Rivers Day is a day set aside by the United Nations to celebrate the world’s waterways or river systems in order to highlight the many value of rivers and to increase public awareness around them, with the main objective tailored on improved stewardship of all rivers around the world. The theme for this year’s celebration is "Water Ways in our Communities" in recognition of the incredible natural, cultural and recreational values of rivers and streams, as well as the extent to which they add to quality of life. The day, according to the Minister of Water Resources, Suleiman Adamu, has become one of the largest environmental celebrations on the planet earth. He said this year’s celebrations was marked by about 100th countries with the intention to draw attention to the world’s rivers that are in degraded states and facing increasing pressures associated with pollution, industrial development, urbanisation and climate change mostly due to human activities. Also in the words of the founder and Chair of World Rivers Day, Mark Angelo, “The importance of clean fresh water has been essential to the fight against COVID-19, so the World Rivers Day is a timely opportunity for millions of people around the world to come together to commemorate the importance of healthy waters and vibrant waterways.”

A dresser, escavating refuse from Ikpoba River In Nigeria therefore, the 2021 World Rivers Day was celebrated simultaneously at the federal and state levels with special focus on creating public awareness on the importance of rivers, river clean-ups, river restoration, protection and conservation. In Edo State, the ceremony was marked by the Benin-Owina River Basin Development Authority (BORBDA). To ensure the essence of the celebration is captured, the Ikpoba River in Benin City, capital of the state was chosen as the site of event. Besides, the event was marked in all the catchment areas within the jurisdiction of BORBDA namely Delta North, Ekiti and Ondo States.

In Edo, which happened to be the headquarters, the ceremony featured a motorcade and public awareness campaign including distribution of fliers to draw public attention to the importance of rivers as a source of clean water that should not be polluted in any form. Moreover, the ceremony also had workers of the river basin, doing manual cleaning including the use of bulldozer and trucks to excavate dirt along the bank of Ikpoba river, as well as the symbolic planting of trees to create a green belt within the area. Speaking at the ceremony, the Managing Director, Benin-Owena River Basin Development Authority, Mr. Daily Ahmed, advocated

As part of our effort to sustain the cleaning of the rivers, we will continue to carry out advocacy and collaborate with the communities by making them understand the importance of the rivers

for safer preservation of waterways in the country. Ahmed, an engineer by profession, said human activities on the rivers have not only decreased economy value of river, but also poses danger to human existence. He bemoaned the indiscriminate dumping of refuse and human waste on the rivers, stressing that people must endeavour to keep the rivers clean at all time. The BORBDA boss, who emphasised that the agency would ensure regular cleaning of rivers in its catchment area in order to improve their economy value, said "It is imperative to make our rivers clean because it is part of our existence. You can see the tons of refuse that was pulled out of Ikpoba river at just one spot, this shows the harm we do to ourselves. "Perhaps we need to know that throwing all this into the rivers endanger our common existence, increases cost of treatment of the water from the rivers. We must endeavour to keep our rivers clean. "As part of our effort to sustain the cleaning of the rivers, we will continue to carry out advocacy and collaborate with the communities by making them understand the importance of the rivers," he stated. In addition, there was a lecture by an Environmentalist, Dr. Kingsley Egun titled: "Threat to Rivers in Benin-Owina River Basin Development Authority's Catchment Areas and Its Implications". Dr. Egun in the course of his lecture, said studies carried out on various section of the rivers have raised concern about high volume of pollutants deposited in the river which has affected the water quality and the aquatic biota of the river. According to him, "the study further showed that this has impacted negatively on the nutritional status of fishes caught in the river and also predisposes the consumers to various health risk. "The threat to our community waterways have also impacted negatively on the cultural values and the religious economy of the indigenous people."

T H I S D AY ˾ WEDNESDAY NOVEMBER 3, 2021

FEATURES

Manish Rohtagi: Thriving with Stallion Bajaj Despite Odds Despite the negative effects of COVID-19 pandemic on businesses, Mary Nnah reports that for Managing Director, Stallion Auto Keke Limited and VON Automobiles of Nigeria Limited, Manish Rohtagi, his company thrived against all odds, recording huge sales of 75,000 units within one year which translated to support for staff and riders through its dealers and fleet owners scheme

or Managing Director, Stallion Auto Keke Limited and VON Automobiles of Nigeria Limited, Manish Rohtagi, the negative effects of the COVID-19 pandemic had its positives as his company thrived against all odds, recording huge sales of 75,000 units within one year. On how his company fared particularly at this post-COVID-19 era considering the fact that every aspect of life is taking up a new norm, he said: "COVID-19 has been an era of pain, losses and decline for many across the world. Many have lost their near and dear ones. Many people across globe have lost their livelihood due to the pandemic. Kudos to Nigeria, Nigerian government and Nigerian people, who have shown a brave face during such testing time and stood together to sail through. "Our organisation in fact started during the peak of COVID-19 and thankfully we have fared very well. For us more than business results, we were able to take care of the health of our team, dealers and other stakeholders. While we crossed highest ever figures of Bajaj Keke in Nigeria, our support to our staff and riders through our dealers and fleet owners have been a major point of satisfaction to us. "The key highlight is about our technical staff training by the parent company Bajaj Auto which happened completely off line through video calls and other virtual mediums. I am personally quite glad to inform you that our Nigerian Technical and Production team have done a wonderful job by achieving the highest order of quality and consistency in spite of being trained online. "Despite the challenge of the COVID-19 pandemic, Stallion Bajaj had been able to empower 75,000 riders and sold 75,000 units in less than a year. Basically, it was our stakeholder management and Stallion Bajaj commitment to help and support riders and dealers. We are getting support from all corners of Nigeria hence could achieve such high volumes. Revealing strategies put in place presently to ensure that the company remains top-notch considering the present challenges occasioned by the COVID-19 pandemic, he added that "firstly we are concerned about any spread of COVID-19. Any trace of any health issues, we are quite flexible for employees to operate from home. Remote working and virtual meetings is the key to success. We are insisting on regular health checkups and maintaining a high level of personal hygiene. "We are also watchful of our productions, pipelines shipments and inventories in order to fulfil countries requirements. Our focus is on to maintain the costs under control but emphasis on human life growth of our stakeholders. "Nigerians are not only ready for new strategies and services but Nigerians are one of the most knowledgeable consumers across globe. The rapid sale of Bajaj RE250 is the testimony of Nigerian consumers' understanding about new trends and ability to differentiate the real value of brand and products. "Our automated call center and online redressal system are well accepted and appreciated by the Nigerian consumers. Our Below the Poverty Line Customer is well informed and can’t be taken for a ride by anyone in the world." On ideas he has brought to Stallion Group in the last one year to make sure it remains superior, he posited that "our ideas are new but aligned to Nigeria economic growth. We have been working closely with many

Rohtagi

Microfinance banks specially LAPO, Wetland, MISS, Al Barka and many others to enable the empowerment of youth of Nigeria. While we are providing the unemployed youth with riding skills and techniques, other partner Microfinance Banks are providing liquidity to them to ensure their daily income as micro entrepreneurs. Driving Keke is the best Micro Entrepreneurship in Nigeria as of today which has zero gestation period. "The core of our strategy revolves around inclusiveness with a strong desire of shared prosperity. We believe in empowerment of Nigerians, empowerment of females and empowerment of our staff. This has helped us to create a winning team which has pushed the group up and fetched unexpected results. "We have done many female empowerment programmes including training as mechanics and assemblers. Stallion Auto Keke Limited is the only Automobile Assembly plant which

has employed many female staff on the assembly line. " On what it has been like working in this sector of Nigeria's economy, he noted that "the Nigerian economy is expected to boom in coming years. The last mile transportation is the key to growth for any underdeveloped economy like Nigeria. Stallion Group is committed to work shoulder to shoulder with the key policy makers and government bodies to ensure that the Automobile sector contributes significantly to the growth of the Nigerian economy. "We are aligned with major government bodies like MAN, NADDC, Ministry of Trade and Investment and other bodies to ensure Nigeria grows faster in this part of the economy." Revealing his career journey in this field and qualities that have kept him on top, especially as a leader of one of the well-known companies in Nigeria, Rohtagi stated that "particularly, my own experience in Nigeria has been wonderful and I found the people

Despite the challenge of the COVID-19 pandemic, Stallion Bajaj had been able to empower 75,000 riders and sold 75,000 units in less than a year. Basically, it was our stakeholder management and Stallion Bajaj commitment to help and support riders and dealers

trustworthy, Intelligent and willing to learn and grow. Each Nigerian is thriving to grow and prosper. Many of my colleagues have been elevated to higher positions. "My personal aim is to ensure that each Nigeria Staff gets what he or she deserves. It will be our failure if people around us don’t grow not only financially but also in terms of their skill sets and new skills acquisition. Development and growth of Nigeria through the development and growth of Nigerian is paramount to all of us in Stallion." With the positives come the challenging aspect and for Rohtagih, "the challenge is the mindset and unwillingness to change. Many Nigerians don’t want to move around the country. Many of them are sticky about their place of work and postings, while the ones who are mobile get opportunities to grow. "Mobility from North to South, South to East and East to North is the biggest challenge so far as far as talent pool is concerned. Unfortunately, my friends would want to go to the UK/USA etc and execute subliminal jobs but they are hesitant in their own country to move around." Sharing some of the tough moments on the job he said: "the toughest job for any professional is the retrenchment of staff. Fortunately, Stallion Group is a pro employees organisation. We have neither asked people to go nor did we have any salary cuts. The other challenges have been ensuring high standards of ethics and culture. "Due to COVID-19, this became more pertinent in Nigeria among low-income groups. We ensured their wellbeing during this tough time and found out highly positive reciprocal behaviour from all stakeholders. " Revealing his vision for the company in the next five years he said: "Since our company is a part of the Nigerian economy arena, my vision is to see Nigeria becoming a force to reckon with in Auto manufacturing and supplying to various West African countries. "Nigeria has everything that it takes to become the automobile boss of West Africa. Next five year if we achieve the same, our company would surely lead that change and be a flag bearer of the Nigerian Automobile Industry. "Besides, our team is constantly working on innovation and localisation. We are working with local vendors to develop many parts locally in Nigeria. We are working on a "Make in Nigeria" plan. Stallion Bajaj is set to boost the Make in Nigeria drive. And take note that it would be “Make in Nigeria” because the products are assembled in Nigeria." On plans by his country for the recently celebrated Nigerian 61st Independence Day he disclosed that "we have plans to launch a few schemes to promote education among our customer base and empower the next generation of our dealers with support of overseas management training. For Rohtagi life is not just about work. According to him, "making someone happy is the most relaxing thing for me. While I love traveling and spending time with my wife and my daughter, I always look for any opportunity to add value to someone’s life. "People with sufficient means and enough resources must come forward and share the happiness with others who are underprivileged and deprived; they all would find happiness and satisfaction doing the same. The best relaxing activity is to share."

WEDNESDAY NOVEMBER 3, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY, NOVEMBER 3, 2021

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

N O V E M B E R

S & P INDEX

2 , 2 0 2 1

S & P INDEX

EXCHANGE RATE

OBB

14.00%

CALL

INDEX LEVEL

565.29%

1/4 TO DATE

6.06%

N412.08/ 1 US DOLLAR*

OVERNIGHT

14.50%

1-MONTH

1-DAY

–0.11%

YEAR TO DATE

– 15.66%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.41%

Commercial, Merchant Banks’ Borrowing from CBN Drops by 33.2% to N505.36bn in October

Kayode Tokede Following the improvement in business activity in the country, commercial and merchant banks’ borrowing from the Central Bank of Nigeria (CBN) dropped by 33.2 per cent to N505.3billion in October as against N756.37billion in September 2021. Commercial and merchant banks often depend on the central bank bank for short-term liquidity needs to support their lending to the real

sector in the event of scarcity of liquidity in the interbank money market. The CBN lends money to commercial and merchant banks through the Standing Lending Facility (SLF) at interest rate of 100 basis points (bpts) above the 11.5 per cent Monetary Policy Rate (MPR). The industry had in first half of 2021 faced liquidity crises as commercial and merchant banks aggressively borrowed from the CBN. An investigation by THISDAY

revealed that commercial and merchant banks borrowing from the CBN rose by 126 per cent in 10 months to N11.64 trillion from N5.15trillion in 10 months of 2020. Analysts attributed the increasing commercial and merchant banks borrowing from the CBN to a liquidity crunch in the system, maintaining that the Friday’s Cash Reserve Deposit (CRR) deduction is forcing an aggressive borrowing. They noted that the reported N5.15trillion borrowing by com-

mercial and merchant banks from CBN last year was due to COVID-19 lockdown that impacted on business activities and lending to real sector. Commenting on aggressive borrowing by banks and merchant banks, Head, Financial institutions, Agusto & Co, Mr. Ayokunle Olubunmi, said the hike in bank and merchant banks borrowing from CBN showed the impact of CRR deduction policy of the apex bank. He explained: “A lot of banks are under liquidity pressure following

the consistent CRR debit by CBN. The weekly debit by CBN puts banks in a very difficult situation since they don’t know how much they will debit.” Speaking on the decline in borrowing from CBN in October, the Vice President, Highcap Securities Limited, Mr. David Adnori attributed the decline in bank and merchant banks borrowing from CBN to excess liquidity and lack of bigger short-term lending obligations in economy activities in October.

Explaining further, he said: “It is an implication that commercial and merchant banks shun borrowing from CBN due to weak business activities in October or they decided not to borrow since they have enough liquidity to meet short-term obligations. It could be there was no opportunity in the economy to finance a project needed for them to access liquidity from the SLF of the CBN.” Continued on page 26

Survey: Private Sector Productivity Improved in October Dike Onwuamaeze The Purchasing Managers Index (PMI) survey of the Stanbic IBTC Bank has revealed a solid improvement in business conditions in Nigeria’s private sector in October. The data collated from the PMI survey showed that the volume of production, new orders for goods and services, and buying activities of the private sector rose sharply during the month under review.

It also showed that employment, inventories and export of goods and services continued to rise though at slower rates as companies reduced their backlogs for the seventeenth month in a row. And as in the previous month, the manufacturing sector topped the led in October. According to Stanbic IBTC said: “The headline PMI improved from 52.3 in September, to 54.1 in October, indicating a sixteenth successive monthly expansion. (The

headline PMI readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show deterioration). “Output levels in Nigeria’s private sector rose at a sharp and accelerated pace in October, thereby extending the sequence of growth to 11 successive months. The latest rise was sharp overall and the quickest since July. According to panel members, the expansion stemmed from robust

sales growth and strengthening demand conditions. “Amid reports of improved market conditions and rising client requirements, new orders continued to expand. The rate of growth was robust, quickened from that seen in September and outpaced the long-run series average. “Consequently, firms raised their output levels at a marked and accelerated pace. Sector data indicated that all four sub- sectors saw faster

increases in output. Manufacturers registered the steepest expansion, followed by wholesale & retail, services and agriculture, respectively.”

Quantity of Purchase Index

The PMI revealed that new orders from the private sector also increased sharply. According to the PMI, “Nigerian private sector firms purchased additional inputs during the month. Input buying rose for the sixteenth

straight month in October and at the quickest pace since July. There were also reports of efforts to add to stocks. All four sub-sectors recorded expansions in buying activity, with manufacturers seeing a robust expansion.”

Export

The PMI survey said that following the first decline in five months Continued on page 26

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

Price

Yield

BILLS Change (%)

MATURITY

OTC FX F U T U R E S

Discount Yield Change (%)

100.19

3.79

0.00

NTB 11-Nov-21

3.74

3.74 0.00

100.31

3.79

0.00

NTB 25-Nov-21

3.82

3.83 0.00

100.54

3.96

0.00

NTB 13-Jan-22

4.10

4.13 0.00

101.02

3.97

0.00

NTB 27-Jan-22

4.18

100.59

4.17

0.00

NTB 10-Feb-22

4.26

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

NGUS NOV 24 2021 420.93

NGUS DEC 29 2021 422.38

NGUS JAN 26 2022 423.83

4.22 0.00

NGUS FEB 23 2022 425.28

4.31 0.00

NGUS MAR 30 2022 426.73

C Ps MATURITY

Discount Yield

Change (%)

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

5.69

5.71

0.00

7.06

7.08

0.00

6.56

6.59

0.00

9.29

9.35

0.00

6.71

6.74

0.00

WEDNESDAY, NOVEMBER 3, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

SURVEY: PRIVATE SECTOR PRODUCTIVITY IMPROVED IN OCTOBER

that was witnessed in September, “private sector firms in Nigeria recorded a renewed uptick in new export orders in October. The rate of growth was modest with panelists attributing higher sales to improved demand conditions in neighbouring countries.”

Employment Index

The survey revealed that employment in the labour market

improved in October as private sector companies in Nigeria recorded a ninth consecutive monthly uptick in their staffing levels during the month under review. “The rate of expansion softened from that seen in the previous survey period but was in line with the long-run series average. Firms that raised headcounts mentioned larger projects, and efforts to keep backlogs at bay.

“Sector data indicated modest rises in the services, wholesale & retail and agriculture sectors contrasted with a slight fall at manufacturing firms,” the PMI said.

Inﬂation

However, the PMI showed that the overall input price inflation quickened in October and rose to a five-month high amid a record increase in purchase costs. The

spike in inflation was partly attributed to the depreciation of the Naira in the FX market. “The rate of inflation was the second-steepest in the series history, surpassed only by that seen in May.The rate of purchase price inflation accelerated from September’s previous peak to a new series high at the start of the fourth quarter. Around 66 per cent of respondents registered

higher purchase prices in October compared to September, whilst just two per cent noted lower costs. Survey members reported higher prices for fuel, shipping, and raw materials. Unfavourable dollar-naira exchange rate movements were also mentioned,” the PMI said.

Output Prices Index

It added that, “around half of

surveyed respondents opted to transfer additional costs on to their clients during the month, resulting in a substantial increase in selling prices. The rate of inflation was little changed from that seen in September and was the third-steepest increase in almost eight years of data collection. All four sub-sectors raised their charges in October, and at robust rates.”

Edo, Rivers, Ogun, 10 Others Yet to Comply With Fiscal Responsibility Law Kayode Tokede The Fiscal Responsibility Commission (FRC) yesterday said a total of 13 states have failed to comply with the Fiscal Responsibility Law, revealing that it has notified about 14 banks and financial institutions allegedly granting loans without due process to state governments. The states are Edo, Rivers, Imo, Akwa Ibom, Kano, Katsina, Borno, Plateau, Ogun, Oyo, Zamfara, Ondo and Benue. The Executive Chairman of the FRC, Mr Victor Muruako, made the disclosure at a Transparency and Accountability Sensitisation Workshop for the South West in Lagos. According to him: “As at today, only 60 per cent of the 36 states of the Nigerian Federation have enacted a Fiscal Responsibility Law that complements the Federal Government’s Fiscal Responsibility Act 2007. The Federal Government is not giving up, though. The pronounced weakness in the

fiscal governance of subnational entities is a huge risk to the economic wellbeing of the Nigerian Federation. “We are bothered that though Nigeria and its constituent states constitute a single national economy and that it is clear to all that the Federal Government is exerting itself to make things better at the level of fiscal governance, many states still operate as though they are only aware of macroeconomic challenges to the extent that it impinges on their monthly FAAC allocations. “Given the size of the economy of all States and Local Governments in this country put together vis-à-vis that of the Federal Government, as well as their importance as the entities that relate directly with the ‘grassroots’, one sometimes gets the impression that subnational

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

them on the issue. According to him, there are conditions that must be met by states before they can be granted loans. “Banks and other financial institutions that make themselves willing tools of fiscal carelessness by granting loans to some subnational governments without regard to due process will be sanctioned. Issues of loans, borrowing and indebtedness are in the Exclusive List in the 1999 Constitution of the Federal Republic of Nigeria (as amended). “Section 45(2) in Part X of the Fiscal Responsibility Act 2007, specifies conditions for borrowing by “any government in the Federation or its agencies and corporations. Lending by banks and financial institutions in contravention of this Part shall be unlawful,” he said.

He said subnational governments should not make loans their first and last consideration for meeting revenue shortfalls but should consider ways of harvesting their dormant potentials for Internally Generated Revenue (IGR). He said, ”In line with the foregoing, the commission hereby serves notice to defaulting banks and other financial institutions that the window of just using moral suasion is closing. Going forward, we intend to invoke the provisions of the law against this expressly defined unlawful act, wherever it rears its head. Where the Fiscal Responsibility Act (FRA) 2007 appears inadequate to compel, we shall aggressively invoke our collaborations with sister agencies such as the ICPC and EFCC.” He pointed out that even the

‘bailout loans,’ by the federal government to states carried a conditionality that benefiting states should commit to a Fiscal Sustainability Plan (FSP) consisting of 22 actions grouped under five objectives “The objectives are improve accountability and transparency, increase public revenue, rationalise public expenditure, improve public financial management and sustainable debt management.” In his goodwill message, Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Abdulrasheed Bawa said states should domesticate the fiscal responsibility act. Bawa, who was represented by Mr Emeka Okonjo, Deputy Zonal Commander of the EFCC, Lagos State, urged states government to take accountability and transparency serious.

Yuguda: Capital Market Open to Support Lagos Free Zone Kayode Tokede

Group Business Editor Eromosele Abiodun

governments are keeping the tap running while the Federal Government mops the floor. The two-day sensitisation workshop on Fiscal Transparency, Accountability and Prudence at sub-national levels, has as its theme: “Fiscal Transparency and Sustainable Development at the Sub-Nationals.” The event was organised by the FRC as part of a series of zonal sensitisation campaigns on Transparency, Accountability and Prudence (TAP) in public finance management. In his welcome address, he said the commission was already engaging with the loan institutions and those proven to be guilty would be sanctioned. Although he declined to name the banks and institutions involved, the FRC boss said the commission was still engaging

The Director-General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda has said the capital market is open for business and willing to provide all the necessary support for Lagos Free Zone, among other companies to access cheap capital needed to enhance growth. Yuguda gave the commendation during a joint visit by the SEC and the Nigerian Exchange

(NGX) to the Lagos Free Zone. He commended the efforts of the Management of the Lagos Free Zone in making investment opportunities available to Nigerians, assuring the organisation of required regulatory support. According to Yuguda, Nigeria has all the industries it needs to become a full power house. “We have the labour, raw materials and the market. Nigeria is a big market and

if we can focus on this as a policy framework we will be able to grow our economy and create wealth for our citizens “I am very impressed with what is going on here, this place holds promise for the future of Nigeria. I am sure this kind of place will give others the hope and courage to make useful investments in this country, “he said. Yuguda said the whole goal of the SEC is to see how the capital

market can aid investors who are willing to set up companies that produce goods Nigerians can patronise and use. In his remarks, Chief Executive Officer of LFZ Mr. Dinesh Rathi expressed the hope that the operations of the company would assist Nigeria solve some of the problems relating to industrialisation. Rathi said the LFZ is reassured by the words of the SEC, which shows the management is

on the right path and promised that the organisation will ensure it achieves set milestones for the benefit of Nigerians. “We desire regulatory support to succeed and we believe that at the end we will assist to drive industrialisation for this country and help stop forex flight. Nigeria gains from this in the long run because employment will be generated as well as taxes among other benefits”. He added.

COMMERCIAL, MERCHANT BANKS’ BORROWING FROM CBN DROPS BY 33.2% TO N505.36BN IN OCTOBER Collaborating with Adnori, an Economist, CEO of Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf expressed that decline in commercial and merchant banks borrowing from CBN could be as a result of excess liquidity in the system. In his words: “Banks were comfortable in terms of liquidity they have in their coffer. It could also be an indication that the nation’s

economy is recovering because the more economy recoveries, the healthier the liquidity for the commercial and merchant banks as well. “All the sectors have opened up and COVID-19 lockdown restriction has been reduced. I think it is healthier liquidity position for the commercial and merchant banks that has played a critical role behind decline in SLF in October.

“As you likely know, as global oil price increases, generally, there will be trajectory in key economy indicators becoming better historically. We have seen correlation when higher oil price and Gross Domestic Product (GDP) growth. All these positive indicators in the economy have impacted on commercial and banks liquidity position, making them to shun borrowing from CBN as it used

to be. Finance expert at PAC Holdings, Mr. Wole Adeyeye attributed the decline in banks and merchant banks borrowing from CBN to excess liquidity in the banking system. According to him: “Most banks usually borrow from the SLF to meet short-term withdrawals from their customers. In the past few months, most commercial and merchant banks that bought Treasury Bills

(TBs) when yields were rising were reluctant to sell the TBs. Instead, they borrowed from SLF to meet their short-term obligations. “With the expectation that yields on short-term instruments may likely go down in the coming months, most banks may have sold their part of their TB. This may have improved their liquidity, hence the decline in banks borrowing from the CBN.

T H I S D AY ˾ WEDNESDAY, NOVEMBER 3, 2021

BUSINESSWORLD

ECONOMY

As CBN Moves to Fix Domestic Output, FX Constraints for Manufacturing James Emejo examines the Central Bank of Nigeria (CBN) “100 for 100 PPP – Policy on Production and Productivity” initiative aimed at stimulating local production and strengthening the country’s non-oil export capacity.

ithout doubt, infrastructural deficiency, lack of access to finance including foreign exchange as well as frailties in government business/investment policies had wreaked havoc on the country’s thriving manufacturing sector. The country’s over-reliance on oil at the expense of economic diversification had largely been blamed for Nigeria’s present economic predicament, which had led to endemic challenges in power and infrastructure development. Specifically, the neglect of agriculture which used to be a huge source of foreign exchange inflows through export of various cash crops is believed to be one of the biggest undoing for the economy - a situation which had seen the country grapple with increasing FX constraints in recent times- occasioned by volatility in the global oil price among others.

LACK OF COMPETITIVENESS

Following the development, Nigerian companies had been rendered uncompetitive on the regional and global stage, and its exports potential greatly dwindled by lack of commitment by the government to empower the stakeholders and actors involved in the value chain. Sadly, one of the high points of the neglect of the export sector was the sheer rejection of Nigerian agricultural commodities by the international community for allegedly falling short of standards. But this is not especially surprising given that until now; the real sector had been neglected over the years and deprived of the needed funding to bounce back. Thanks to the various efforts by the CBN to boost support for the manufacturing and export sector, there is renewed hope for the economy. The CBN had observed the improvement in lending to the real sector following the introduction of the Loans-to-Deposit Ratio (LDR) in 2019. Accordingly, industry gross credit increased by N6.63 trillion from N15.57 trillion at end-May, 2019 to N22.20 trillion at end-July, 2021. The credit growth was largely recorded in manufacturing, oil and gas and agriculture sectors. It is further argued that the current controversy over the value of the Naira against the US dollar is a direct consequence of the levity on the part of successive administrations to truly diversify the base of the economy.

SAP PROGRAMME

As aptly summarised recently by the CBN Governor, Mr. Godwin Emefiele, the current challenges with the country’s exchange rate started since the advent of the International Monetary Fund (IMF) led Structural Adjustment Programme (SAP) in 1986, and the introduction of the Second Tier Foreign Exchange (SFEM) market, adding that the local currency had been on a one-way free fall from parity to the US Dollar in 1984 to over N410/USD today.

He said about 35 years later, Nigeria had not been able to achieve the many promises and objectives of that programme, adding, “instead, what we have seen is widespread import dependency, which have wiped out most of our production and manufacturing bases and exported all our jobs in the process. “What has happened to the massive textile factories across our nation such that we import almost all cotton products when we are rich in cotton? What has happened to our vehicle assembly plants across the nation such that we import most vehicles and have become a massive dumping ground for dying second-hand vehicles? “What has happened to our rubber plantations through which we made the best tyres and rubber products in the world? What has happened to our groundnut pyramids? What has happened to our Cocoa farms? What has happened to our palm oil mills?” he queried. Emefiele insisted that under the leadership of President Muhammadu Buhari, the country must stop the current decline for good. He said, “We must return to massive home-made production; we must get our people working again. We must create the economic environment for massive domestic production and significant non-oil exports.”

LOCAL MANUFACTURING

He said the country must return to an employment-led growth anchored on productivity and rewarding producers of local goods, services, innovation and new technologies. He added, ‘If you consume cheap imports and export our jobs, we will make you pay dearly; but if you produce locally - with little or no foreign inputs beyond machinery, we will support you, and the markets will reward you abundantly.” But the advent of the COVID-19 pandemic further exposed the underbelly weaknesses of Africa’s largest economy. Against falling oil prices and dwindling external reserves, there had been concerns over the ability of manufacturers to access FX to meet their import obligations. The central bank continued to assure the investing public that it was ready to meet genuine FX demands by manufacturers. Additionally, the real sector had been constrained by high borrowing costs with its associated economic implications. However, determined to arrest the situation and put the economy on the right trajectory once again, by boosting local output and encouraging exports of particularly non-oil commodities, the CBN governor recently unveiled a new financial instrument titled, “The 100 for 100 PPP - Policy on Production and Productivity” which he said would boost support for selected private sector companies

in the country. The initiative announced during the launch of the Central Bank Digital Currency (CBDC), known as the eNaira, further complements efforts by the apex bank to boost credit to the real sector. Emefiele described it as the best and most sustainable way to address the Naira’s value – whether in hard currency or digital eNaira – through production, production and more production. According to him, the new policy initiative anchored in the CBN Development Finance Department under his direct supervision, seeks to advertise, screen, scrutinise and financially support 100 targeted private sector companies in 100 days, beginning from November 1, 2021, and rolling over every 100 days with new set of 100 companies, whose names will be published in national dailies for Nigerians to verify and confirm. He said, “After these 100 projects by companies in the first hundred days from November 1, we will take the next 100 companies/projects for another 100 days beginning February 1, 2022, and then another 100 companies for another 100 days beginning from May 1, 2022.”

ACCESSING FINANCING

In total, about 300 companies will have a rare opportunity to access needed financing to meet their operational objectives. The CBN Governor said, “Working through banks, the financial instrument will be available to their customers in critical areas to boost the production and productivity and to immediately transform and jumpstart the productive base of the economy. He explained that the purpose of the instrument was to take further steps to reverse the country’s over reliance on imports, pointing out that the country cannot afford to waste its reserves on cheap imports and currency speculators. Emefiele had further assured that there was no cause for alarm over the foreign exchange availability in the country, pointing out that the country’s FX reserves are strong and “indeed getting stronger by the day, crossing the $40 billion mark, and is one of the highest in Africa - and growing.” He said, “We believe that if we target and support the right companies and projects, we will see a significant, measurable and verifiable increase in local production and productivity, reduction in certain imports, increase in non-oil exports, and improvements in the FX-generating capacity of the economy.” According to a subsequent selection criteria for private sector companies to participate in the new financial instrument, the Central Bank further premised eligibility on the business’ immediate contribution to economic growth, jobs creation, and social impact.

It pointed out that in selecting the companies, evidence -based, transparent and measurable criteria shall be deployed adding that the move was to ensure the operational framework for a robust and transparent process for identifying and selecting high-impact companies and projects under its 100 for 100 PPP. The CBN said, “These are projects that must catalyse sustainable employment-led economic growth through increased domestic production and productivity in the near term. “The projects for consideration shall be new projects in existing companies requiring new machinery and other support and must have the greatest potential to achieve significant scale in their in-country production and for domestic consumption and exports.” Analysts have however applauded the apex bank initiative to boost funding intervention to the real sector at such a critical period. They also expressed confidence that the scheme if properly implemented, would greatly improve credit to the real sector, which had been groaning under the adverse impact of the pandemic.

COMMENDATION

Speaking in separate interviews with THISDAY, Managing Director/Chief Executive, Credent Investment Managers Limited, Mr. Ibrahim Shelleng, commended the initiative, pointing out that the, “scarce FX should really be used to develop rather than subsidize the economy.” He added however, that there might be potential drawbacks if the scarce FX ended up in the hands of a few “small clique”. He said, “It is a laudable initiative if it is administered properly. The scarce FX should really be used to develop rather than subsidize the economy. Hence the beneficiary companies would need to be established and have proper structures to help drive economic growth. He also expressed confidence that the policy would achieve its objectives in view of the fact that the central bank had insisted that companies involved must have projects that have significant foreign exchange earnings potential adding stressing, “that in itself may drive more FX inflow”. Also, Managing Director/Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade, lauded the new policy, as it would boost local production for new projects to be embarked upon by these companies. He said, “The major problem affecting the manufacturing sector has been scarcity of FX, adding, “With this initiative foreign exchange will be make available to the designated companies to ensure the procurement of the needed raw materials.” He added, “This will have tremendous impact on the economy because it will witness increased production, enhance job creation and boost output.” Analysts believed that if well executed, the new policy initiative could turn out to be the magic wand that will boost industrialisation aspiration and reset the economy for good.

WEDNESDAY, NOVEMBER 3, 2021 ˾ T H I S D AY

BUSINESSWORLD

FINANCE

Mitigating Digitisation Risks in Banking Sector The appetite for technological innovations in the banking system has brought along with it risk that ought to be mitigated, Nume Ekeghe looks at what the NDIC and others are doing to tackle the emerging risks

s the banking industry is being redefined globally through the advancement in technology so also is the need for supervisory organisations to adapt quickly or be left behind in the ever changing

world. This was the crux of the three-day workshop for finance correspondents by the Nigeria Deposit Insurance Corporation (NDIC) in Gombe last week with the theme, “Enduring Extreme Disruption- Resilience and Reinvention for the Banking System Stability and Deposit Insurance.” Speaking at the workshop, NDIC Director, Bank Examination Department, O.O Babatolu noted that digital disruptions in form of payment solutions, lending and savings facilitations are transforming the banking industry. In his paper titled: “Resilience and Reinvention Strategies for Deposit Insurance System in the Face of Extreme Disruption in the Banking System,” Babatolu noted that apart from globalization, disruptive technologies (digital disruption) would continue to challenge the traditional approaches to doing business generally.

BANKING INDUSTRY DISRUPTION

Digital disruption, he stated, is the change that occurs when new digital technologies and business models affect the value proposition of existing goods and services. According to him, globally, the banking industry is, “arguably, the most regulated business (enterprise) globally because of the financial intermediation roles of banks by which they mobilise deposits from the surplus units and lend to the deficit units, thereby facilitating economic growth and development, amongst other functions “Besides being the most regulated, the banking industry is also, perhaps, the most disrupted industry, today, globally. Technology is a key driver of rapid changes in the banking industry. As technology enhances the quality of existing banking services and or facilitates the introduction of new ones so also are the expectations of the banking public getting increasingly more complex. “In response to these, banks and other financial institutions are forced to either partner with Financial Technology (FinTech) companies or develop their own solutions. Not only are technological disruptions and globalisation re-defining insured banks’ business models, it is also accentuating contagious risks. “Other risks posed by the disruption in the industry include complexity of operations, speed of transmission of stress and contagions, cybersecurity risk as Babatolu furthered that digital disruptions have also come with new threats and risks, including “externalities like the novel COVID-19 pandemic have also posed significant risks to almost all sectors of the global economy.”

MITIGATING DIGITIZATION RISKS

In mitigating these risks, Babatolu noted that

the NDIC had taken strategic decision on the nature, scope and depth of technology deployment. Some of the steps taken, he added, include significant enhancement to virtual contents of on-site examination. He said the Corporation, in conjunction with the CBN, has continued to examine banks using the hybrid on-site examination tool since the outbreak of Covid-19 and the same with every aspects of the Corporation’s mandate. “There is also the establishment of Fintech and Innovation Office for policy articulation and alignment, as well as acquisition of tools and capacity for data analytics, “he said. He added that the corporation had put into consideration; appropriate supervisory technologies (Suptech) in aid of off-site and on-site supervision, early warning systems, resolution mandate especially depositors’ payout as well as Market intelligence. “The financial service environment is ever changing. The global economy, as we see it today, was different in the past, and surely, will be drastically different in the future, “he said. “The banking system disruption is happening very fast, therefore, the DIS will have to rapidly adapt, withstand, and recover from the disruptions and to be able to continue to play its vital role as a safety-net component. “The appetite for technological innovations in the banking system appears to be pervasive but it is risky, thus, requiring the DIS and other safety-net players to remain vigilant for the emerging risks. “The corporation has evolved overtime and has continued to pursue strategies that enhance its operational resilience through innovation, strong risk management, highly motivated and empowered workforce, dynamism and adaptability, fit-for-purpose business model, strong leadership and collaboration with critical stakeholders,” Babatolu stated.

WAY FORWARD

On his part, CBN Director of Banking Supervision, Haruna Mustapha in his paper titled, “Reviewing Financial and Banking Regulation in Nigeria - Priorities and Plans Post COVID-19 Pandemic,” stressed the need for continuous update and assessment of the prudential rule books and policy tool kits to strengthen responses to economic and financial shocks. He said: “We must ensure smooth unwinding of COVID-19 induced forbearance regime with key focus on our goal of ensuring financial system stability as we transition into the recovery phase of the pandemic and employ effective stress testing methodologies to detect vulnerabilities early to enable appropriate pre-emptive action.

“There is also need to develop strategies in conjunction with supervised institutions to address the longer-term changes that may occur in their operational arrangements associated with the pandemic induced deviations from their business models as well ad develop and adopt more Reg-tech & Sup-tech solutions that align with our supervisory objectives.” He added, “Despite the adverse headwinds caused by the Covid-19 pandemic and the reduction in global economic growth, the CBN has been able to sustain banking sector soundness in terms of CAR, NPL and LR. “The banking sector has sustained the growth of key economic activities which were impacted by the pandemic such as agriculture, manufacturing, retail, health care, hospitality and tourism. “Whilst, the Nigerian banking sector has remained resilient to the impact of the Covid-19 pandemic, the bank will develop additional counter-cyclical policy options that may be deployed if economic conditions warrant.” Mustapha noted that macro-prudential regulation and supervision is now more critical than ever, adding that in addition to other macro-prudential tools, CBN would continue to have robust stress testing frameworks to provide forward-looking assessment of existing and emerging vulnerabilities and threats to financial system stability. He said the bank also stands ready to provide liquidity backstops as and when required in view of its role as banker to the Federal Government and lender of last resort.

RIMAN’S VIEW

Recently, the Risk Managers Association of Nigeria (RIMAN) urged banks to increase investments risk assessment tools to mitigate the increased risks that come with digitisation in the banking sector. President RIMAN, Mr. Magnus Nnoka stated this while speaking at the 20th Annual International Conference of the Risk Management Association of Nigeria, where stakeholders gathered to deliberate on ‘Risk Management in a Digital Era.’ Nnoka said: “The rise in digital assets and channels consequently lead to emerging and evolving risk types, therefore, we are seeing increasing digitisation of risk. Even as organisation seek increasing digitisation, we can readily identify few of the drawbacks on this journey, these include Legacy Information asset, organizational culture, data quality, dearth of requisite talent and complexity of organizational structure.” He noted that in the digital era, risk management professionals should be required to review and reshape their mandate and roles, develop digitally driven mindset and capacity to provide faster, more forward-looking, and deeper insights in driving the new working

environment. He added: “Furthermore, concerns have been raised not by a few, that technological innovation or digitalization specifically in the banking sector appear to be concentrated mostly on customer-facing journeys such as online banking and marketing and the activities that support these journeys such as customer onboarding, customer servicing and resolution of complaints. “It is my submission that Managing risk in a digital era should be supported by adequate and appropriate investment in digitalisation of risk management Digital risk transformations should be pursued intentionally by organisations It will be increasingly challenging for risk management approach to stay analog while customer-facing activities and operations race ahead into digital.” In his keynote address, Managing Director of First Bank of Nigeria Limited, Mr. Adesola Adeduntan said risk managers should be well equipped to better manage emerging risks in a digital world. Adeduntan who was represented by Group Executive Treasury & International Banking Group of First Bank, Mr. Ini Ebong said risk leaders are expected to provide the required support that will enable their organizations to remain resilient amidst uncertainties and growing complexities in an operating business environment. He said: “Given that digital technology has become an integral part of most businesses especially financial services businesses, risk leaders will need to be well equipped to better manage the emerging risks in the digital era. Risk leaders are expected to provide the required support that will enable their organizations to remain resilient amidst uncertainties and the growing complexities in the operating and business environments. “Today’s risk management function must have a seat at the table be involved in the digital transformation journey, from strategy to implementation as risk leaders and professionals need to be active players in setting the organization’s technology and digital vision being an interested spectator is not an option. The risk function will need to have a far greater share of digital-savvy people with fluency in the language of both risk and the business, operating within an agile culture that values innovation and experimentation.” He further added that risk leaders need to proactively adapt to a fast-changing risk environment manage through, recover from disruptions, forecast and mitigate the potential risks in the digital era. “Risk leaders must remain focused on repositioning the risk function to safeguard growth and spend more time on value-adding activities and risk leaders need to investment in the right tools, technology and techniques to be better equipped in identifying and navigating threats faster and more effectively in a digital era, ”he added.

WEDNESDAY, NOVEMBER 3, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

CBN Sensitizes Abia, Ebonyi Public on Beneﬁts of eNaira

Emmanuel Ugwu-Nwogo in Umuahia

The Central Bank of Nigeria(CBN) has urged all Nigerians to embrace the nation’s recently introduced digital currency, saying that all its financial instruments and monetary policies are sound, resilient and trustworthy. The Director of Corporate Communications at the CBN, Mr. Nnamdi Okwuosa gave

the assurance at the CBN Fair which took place simultaneously in Umuahia and Abakaliki with active participation of stakeholders. With the theme, ‘Promoting financial stability and economic development,’ the Fair served as a veritable opportunity for CBN officials to enlighten stakeholders and general public in Abia and Ebonyi States on eNaira, consumer protection, currency operations,

payment system management and development finance initiatives. Okwuosa said that CBN has cultivated the habit of making out time to interact with stakeholders, engage with customers in order to create awareness on the apex bank’s policies, initiatives and programmes and how people could key into them. According to him, eNaira is a legal, tender issued by a sovereign and regulated by the

Pension Fund Operators Advised to Introduce Flexibilities inTheir Operations Ebere Nwoji Pension fund operators have been advised to introduce into their operations some flexible options that will encourage contributors into the Contributory Pension Scheme to retain their various fund managers as their pension providers after their retirement. Former Director General Lagos State Pension Commission (LAPEC), Mrs Folashade Onanuga, suggested this while speaking at the Annual Insurance and Pension Conference organised by the National Association of Insurance and Pension Correspondents (NAIPCO) in Lagos. She said such flexibility like penalties for early withdrawal of pension savings; incentives like offer of basic levels of healthcare would encourage clients to remain with their pension provider after they retire. “Are there opportunities to offer clients more within the ambit of the law? Such flexible options

will give clients of pension funds more control over their future while also catering to the profit motive of operators”, she said. She said as soon as pensions products began to be demanded by the average Nigerian worker either in the formal or informal sector and not impressed on them, then a major milestone in financial inclusion would have been achieved in the pension sector. According to her, today, pension funds under management is over N13 trillion with enrolment less than 10million registered contributors. She said with the inclusion of the informal sector under the micro pension plan, this could be much higher, but noted that pension fund administrators must understand the needs of the population group they wanted to serve. “We cannot use conventional products with this market segment. In addressing these needs

and concerns, we will be doing our part to creating lasting economic change in Nigeria.” She said the opportunities, which exists for increased financial inclusion in both the insurance and pension sectors would only be achieved if operators design products that were perceived to meet the people’s needs and could be seen as improving their welfare rather than impoverishing them. She said operators must constantly be engaged in strategic thinking; have a broad understanding of the economic situation of the country, understand the mindset and ways of life of different ethnic groups and then have a variety of products from which the people could make a choice from. The former LASPEC boss said there had been a trust gap to be bridged in the pensions industry despite the potential benefits of the product.

Central Bank of Nigeria”, adding that the digital currency is more reliable than cryptocurrency which is not regulated. He said that CBN was always at alert in monitoring the nation-s financial system and therefore well placed to give authentic advice on the health status of the economy hence people “must listen to us”. The CBN spokesman noted that the indents of people losing

their money to scamers and unregistered financial institutions would be eliminated when people begin to listen only to CBN and run away from institutions not regulated by the apex bank. Apart from sensitization of stakeholders, Okwuosa also stated that the CBN Fair provides a platform for the apex bank to listen to customers’ complaints, questions and provide the needed solutions.

He said that the take-home from such interactions helps CBN to modify its policies to meet the needs of the day. Earlier in his remarks the Branch Controller, CBN Umuahia, Onyeka Ogbu said that the apex bank has introduced so many interventions and urged people to take advantages of the opportunities to transform their lives as individuals, groups or even as a state.

GIZ, LSETF Meet with Stakeholders on MSME Recovery Advocacy Project Yinka Olatunbosun German Development Agency (GIZ) in collaboration with the Lagos State Employment Trust Fund (LSETF) had a workshop with stakeholders last week in Lagos to deliberate on the path to economy recovery for Micro, Small and Medium Enterprises (MSMEs) in Lagos. With support of the Pro-Poor Growth and Promotion of Employment in Nigeria (SEDIN), the validation workshop, which was facilitated by Hakeem Onasanya highlights the issues raised in draft report on the MSME Recovery Advocacy project through a series of interactive sessions. The Pro-Poor Growth and Promotion of Employment in Nigeria Programme (SEDIN) is one of the programmes implemented by the German Development Agency (GIZ) in Nigeria. The overall objective of SEDIN is to improve the employment and

income situation of micro, small and medium-sized enterprises (MSME’s). To achieve the overall objective, SEDIN is working with both private and public institutions to improve the framework conditions, business-enabling environment and promote policies in favour of MSMEs, employment and local economic development. In his opening address, the Director of Strategy Fund and Stakeholder Management at LSETF, Charles Anyawu said that the workshop was necessary to spark conversations that are key to understanding those who were significantly impacted by the pandemic and to work towards sustainable economic policies. The validation report, which was presented by the Head of Consulting, Agusto Consulting, Mr. Jimi Ogbobine revealed the impact of Covid-19 on MSMEs in Lagos and offered some

recommendations. “96 per cent of businesses in Nigeria are MSMEs. When we are featured in the foreign media, we are often described as an oil rich nation but in actual fact, if we look at the job creation impact of MSMEs, we are actually an MSME rich country.” Furthermore, he highlighted some of the dangers to MSME’s economic recovery after Covid-19 pandemic disruption including inflation, infrastructural and regulatory risks. “Inflation is above 16 per cent, which means the value of naira that you hold in your hand is eroding fast. The CBN has an inflation target of between 6 and 9 per cent. If inflation is high, the banks rates will be high as well. Many of the MSMEs are import-driven, either directly or indirectly. We have financing and liquidity issues. Without cash flow, the business can become insolvent.’’

T H I S D AY ˾ WEDNESDAY, NOVEMBER 3, 2021

BUSINESSWORLD

INTERVIEW

Ajogwu: Arbitration, Other ADR Should Be Seen as Helping Our Courts Professor Fabian Ajogwu (SAN) is the founding Partner of the law firm of Kenna Partners. He has well over two decades of law practice experience in the field of foreign direct investments and corporate restructuring in the financial services sector, and natural resources sector; including litigation and arbitration in related fields. Recently, he was recently elected President and Council Chairman of the Nigerian Institute of Chartered Arbitrators In this interview with Sunday Ehigiator, he speaks on not just his vision for the institute, but how he hopes to promote arbitration and leverage technology to improve on its processes in Nigeria Congratulations on your recent emergence as the President and Council Chairman of NICArb, how does it feel to step into the big shoes left by your predecessor, the revered Chief Afe Babalola, and also share with us your vision as regards the institute? hanks for the opportunity. First gratitude to the Almighty God and much appreciation to the eminent members of the Governing Council of the Nigerian Institute of Chartered Arbitrators and the very able management led by the CEO Shola Oshodi-John. I think it’s not just a big shoe (singular), I think we should look at it in plural, the pioneer president was Judge Bola Ajibola (SAN), and former Attorney General of the Federation, and then subsequent was Honourable Justice Makinde Esho JSC, of late memory. He then handed over to Aare Afe Babalola (SAN), our immediate past president, and one of the foremost lawyers in Nigeria. So I’m indeed very honoured to be given the opportunity to steer the affairs of a great Institute. In terms of stepping into shoes, I’d rather say that those very big shoes have sort of paved the way for a bigger vision for us in terms of our focus on growing alternative dispute resolution in Nigeria, possibly West African region, and it is much to that credit that they have done the significant work that has positioned our foremost Institute in the country. This is both in terms of the quality of its membership, the diversity of its membership, in terms of different professions, beyond just one region of state, original diversity or diversity, and then of course, even the quantity, quality, numerical strength of our membership is easily the largest. And I think that what this opportunity does is that it enables us to be able to build upon a solid foundation and the edifice that has already been built by these three extraordinary gentlemen. So, I think in terms of what I want to do, first of all, it’s to strengthen goals within, that should then drive the institute to yet one more level of broadening its reach and impact in Nigeria, domesticating a lot of arbitration, strengthening the capacity for domestic arbitration and international arbitration amongst our institute, and then leveraging technology to be able to step up in the service delivery for disputants, members and all other stakeholders of our institute. This in a nutshell, is what the overview is, which is to increase our impact and reach and of course, leverage all that has become available in the past few years particularly last year, in delivering with efficiency, chief among which is technology.

forget that arbitration is party autonomy. It is what these two people want that is supreme not what a third party wants, which is why there are some matters that are not ‘arbitrable’ by reason of having public interest in them by taxation, such as election outcome for election petitions. But as to whether the contract between Mr. Iriekpen and I, who should pay who, both of us may decide to keep it private and the law will respect that. So you’re not going to get popularity by publicity. So you may get popularity by one, two and effective next, not by it being made public.

Your institute is one the bodies promoting the resolution of disputes through arbitration/ADR; how would you rate the acceptance of this resolution means in Nigeria? Are there sufﬁcient legal and institutional framework for efﬁcient practice of arbitration and ADR in Nigeria? Well, in terms of acceptance, I’ll split them in different ways. There’s the acceptance of the general populace. There’s also the acceptance of professionals who advise litigants in this general populace. And there’s also the attitude of the court in terms of facilitating or in debating arbitration. And I’ll like to break my answers into those key points. First of all, in terms of acceptance by the general populace, that is something that has evolved with the congestion of our courtrooms, in terms of the volume of commercial disputes or non-commercial disputes that the courts have to deal with, the wills of justice have been acknowledged to be slower than those seeking justice. Therefore, it creates the natural desire to find faster ways of resolving disputes, and for even the more business savvy ones, even stipulating that their disputes must be resolved, for instance, within 90 days of the commencement of arbitration. So this has created a need and evolved the acceptance among practitioners. On the question of acceptance and capacity, that’s why we pay a premium to building capacity within people. And we, for instance, would invite members of the media, accountants, and engineers, to join our proceedings when necessary. We’re not restricted to lawyers alone. If the institute has disputes that, for instance, deal with a development in a building project, in terms of calling for an advance payment guarantee, you would agree with me that there’s nothing to interpret legally requiring the services of a lawyer. It’s a quantity surveyor who will come and determine by his experience, how many blocks we’ll get to a particular place, and if he thinks what is on site is worth the money that’s been paid for it.

Ajogwu And we’ve had disputes like that resolved within two weeks of start by quantity surveyors, so we invite different people to the Institute and believe that they will be able to contribute with their diverse background. The third part of acceptance is the role of the courts. Alternative Dispute Resolution will grow on the basis of whether the courts play facilitation role, encouraging it, or whether they play an inhibiting role, by setting aside arbitral awards, what we’ve seen in Nigeria, is that it’s a mixture of both. There’s a qualitative aspect of it in terms of the quantum of the claims. So whereas maybe two people have a dispute, and it’s $2 billion, you’ll agree that that is significant, because it covers more than 50 smaller or petty claims. So when those big users perceive that they get arbitrary awards in Nigeria, and it’s difficult to enforce it, or worse still, it’s certified easily by the court, they tend to want to put the seat of arbitration in say, the UK or South Africa, or New York or Paris. And the reason is because they’re trying to avoid this particular problem. So what we’re doing is also creating that enlightenment, through training and seminars and engagements with the members of the bench to see that there is really no competition. More than anything, arbitration and other ADR should be seen as helping to lighten the load and the burden on our courts. If parties agree to settle their disputes by referring it to Donnelly, who knows, then so be it, do not interfere with it. And so to the extent that our courts are taking a more facilitation role, it enhances the acceptance of arbitration. And this is part of our mission, which is to increase the size and number of arbitration done within our shores, and not have them exported because of people being afraid that the court will not support what they’re doing. What we also want to do is to increase the ethics within arbitration, the credibility of arbitral proceedings and awards locally. And there is no reason why we shouldn’t do it here. Also to create jobs locally. When you export all of it to another country, even little things like hotel fees, and coffee and tea, and who serves that coffee, you’ve exported jobs, those opportunities, exported opportunities for capacity building outside and we just become spectators watching a foreign movie. So we want to be able to do a whole lot more here, but do it the ethical way and do it

properly. I think that arbitration is not very popular in Nigeria and in the media, because of its concept of conﬁdentiality, unlike open court, how would you react to this? The answer to your question would depend on how you describe popularity. Is it a game of absolute number of litigants, disputants, or is it a game of the quantum of the two differently? Take for instance; there are 12 people who have signed up to a programme by Davidson. They are 12 normal civil servants, and versus one person who signed up to his programme, Aliko Dangote. And you want to measure the popularity and I’m asking in what ways are you measuring? If you are talking about the absolute figures, quantum of claims, I just gave you two examples. Two matters, approximately $10 billion plus $1.7 billion is $11.7 billion, two cases, now do you want to talk about the numerical number of cases that definitely reside within the courts, magistrate courts, customary courts and so on. But in terms of the heavy disputes, railway projects, energy projects, banking, software disputes and so on, a lot of those top end commercial matters are dealt with by arbitration. And to answer your question about confidentiality and the media, the parties themselves choose confidentiality. It is the parties themselves who have opted for confidentiality as an attraction to arbitration. And why do I say so? Sometimes, a matter being public, could for instance affect the share price of a disputant. Even when a party eventually wins, people already see that they have a problem and they are fighting with the key supplier, and it’s open. So sometimes, the parties for legitimate reasons, not for anything untoward or dodgy, decide they want to treat their disputes in a confidential manner, and until they resolve it, they don’t want people to begin to guess, we treat it as such. This is so because sometimes, if somebody makes a claim against you, for say, a billion Naira, some of your creditors, or suppliers who were supplying you things on credit, on learning that there is a billion naira claim against you, before it is determined, may decide to play safe and ask you for cash in advance. And so it is for some of these reasons that those parties insist that they would prefer to fight quietly until they have a winner in the fight. Also don’t

What is your view on the national policy on arbitration for Nigeria? Well, it does look on its surface, that it is good to have a definitive framework and policy on arbitration. But we must keep in mind, building from my last point, that party autonomy is what drives arbitration. The regular way the law says you should deal with your disputes, it’s either go to court or take any other lawful steps. But if parties then decide that they would rather settle their dispute in Yaba in a closed room, then we cannot decide for them. So, to the extent if you look at the policy, it has two segments, it seeks to deal with issues of domestic arbitration in relationships between Nigerian entities and of course, another segment in relationship between Nigerian entities and foreign entities, international arbitration and domestic arbitrator. Now, whereas it is valued to be prescriptive, to say maybe we should try to do as much as possible locally. But then you cannot legislate. Why is it a policy, it is not law. You cannot legislate for people, and say you must settle your dispute in this way. There’s already a court system that has given you that, but ADR as the word connotes, alternative, parties are at liberty to create alternatives if they decided they want to go to Accra, Ghana to solve this fight between them, I’m afraid there’s little anyone can do to stop the parties. Where the policy might come is in terms of the states negotiating that we do not want to go outside Nigeria, so if you’re having a contract with the Nigeria Ports Authority, the policy will be their backing for saying, ‘we don’t want you to take us to India, or to the UK’. And you can see stemming from some previously bad experiences that we’ve had as a country. So where the sovereign can decide that its parastatals should as much as possible patronise local arbitrators, they must find someone who is capable, is competent to settle disputes locally, build capacity, learn from errors and create precedents, and subsequent ones. To that extent, the policy has a lot of merit and goodness, but to the extent of stipulating that parties other than public entities must do their arbitration in a certain way, that is not the spirit of arbitration. How can the use of online dispute resolution be institutionalised and standardised, or deployed in key commercial cities such as Lagos, Abuja, Kano etc? You know the good thing about technology is that it is modular in nature, you can increase, you know, and build upon what you have. In the past, Online Dispute Resolution (ODR) as we call it, looked at being able to resolve many disputes through maybe artificial intelligence driven platforms, mast service using the online medium. I don’t want us to confuse it with arbitration proper. Using technology, like virtual platforms, like having a hearing on zoom, or Microsoft Teams is slightly different from what ODR was. ODR was like, you logged into a site and you put your stuff there and they will get back to you. Everything was simplified. And it really was for small claims, to dispense the justice quickly and fast. Like your magistrates don’t go into lengthy procedures, some rarely deal with them unlike the high courts. So what we’re looking at is creating the ODR to deal with smaller claims. So what I am talking about primarily is to be able to create platforms, just like the courts have virtual hearing, to take your witnesses to cross examine them, to have the arbitrators watch the demeanour of the witnesses on this same rectangular screen as we’re having this interview. And also be able to answer it without travelling and making sure that we have physical meetings then primarily two meetings or maybe max three happening in arbitration. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

WEDNESDAY NOVEMBER 3, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY NOVEMBER 3, 2021

EDUCATION SPESSE: Grooming New Generation of Procurement Experts Uchechukwu Nnaike reports that the recently launched World Bank-sponsored Sustainable Procurement, Environmental and Social Standards Enhancement Project, will among others, give a more professional and academic outlook to the procurement, environmental and social sectors

efore now, procurement professionals came from related backgrounds like business or economics, logistics, supply chain management or purchasing. But the narrative is about to change with the recent launch of the Sustainable Procurement, Environmental and Social Standards Enhancement (SPESSE) Project by the Federal Government of Nigeria, with support from the World Bank. The SPESSE Project was conceived based on the need to bridge the gap between the insufficient supply of qualified professionals in the procurement, environmental and social sectors and the lack of academic programmes and curricula in the Nigerian education system. It, therefore, seeks to develop sustainable capacity in managing procurement, environmental and social standards in the public and private sectors. Six federal universities (Abubakar Tafawa Balewa University, Bauchi; Ahmadu Bello University, Zaria; Federal University of Agriculture, Makurdi; Federal University of Technology, Owerri; the University of Benin and the University of Lagos) were selected to host the Sustainable Procurement, Environmental and Social Standards Centres of Excellence (SPESSCEs) to implement the project. SPESSE is a multi-sectoral project, with support from the World Bank, which seeks to address training, professionalisation and research in procurement, environmental and social standards through certification, undergraduate, graduate and postgraduate studies; to support governance, increase transparency, competition, equal opportunity, sustainability, as well as environmental and social standard management in the public and private sectors. It will be implemented by the National Universities Commission (NUC), Bureau of Public Procurement (BPP), Federal Ministry of Finance, Budget and National Planning, Federal Ministry of Environment and Federal Ministry of Women Affairs and Social Development. Speaking at the launch of the project in Abuja, the Coordinator, SPESSE Project Implementation Unit, NUC, Abuja, Dr. Joshua Atah, said in recognition of the dearth of critical skills and identified gaps preventing reform and modernisation, Nigeria made a bold decision to be the first country to take credit from the World Bank to build capacity in procurement, environmental and social standards. He said SPESSE is designed to integrate PES professionalisation within the Nigerian public and private sectors, which will enhance sustainable development and value for money in public expenditure. According to him, the project is aligned with several government policies such as the National Infrastructure Integrated Master Plan, the Economic Recovery and Growth Plan and the National Anti-corruption Strategy. Atah said the five-year project has a total budget of $80 million. He said 37.5 per cent of the amount is for technical assistance, while the remaining 62.5 per cent would be performance-based payments using Disbursement Link Indicators (DLI). He said the target is to train about 25,240 candidates within the project’s lifespan in the six universities, where about 30 short courses will be offered. He added that 3,000 female students would benefit from short courses, while 30 per cent of the entire learning process would be online. According to him, performance by implementing agencies and partners will be evaluated by a dedicated independent verifier that will also draw lessons and support adaptation. He said previous experiences from the African Centres of Excellence (ACE) project had highlighted the importance of having independently-managed centres of excellence. Atah said the short courses are ready for enrollment, while other programmes will commence from January 2022. Vice President Yemi Osinbajo, who launched

L-R: Minister of State for Education, Chukwuemeka Nwajiuba; Permanent Secretary, Federal Ministry of Education, Sonny Echono; Permanent Secretary, Ministry of Finance, Dr. Aliyu Ahmed; and the Deputy Executive Secretary (Administration), NUC, Mr. Chris Maiyaki, at the launch of the SPESSE the project, stressed the need for transparency and accountability in procurement processes at all government levels for the nation’s overall growth. Osinbajo, represented by the Minister of State for Education, Chukwuemeka Nwajiuba, noted that a huge amount of money is often earmarked for procurement, thereby encouraging some form of financial waste. “Issues relating to construction, rehabilitation and extension of existing buildings, acquisition and development of lands, purchase of laboratory equipment, disposal of reagents and samples from sick people and animals, amongst others must conform with world standards. To achieve this, there is an absolute need to build the adequate technical capacity required for efficient and effective procurement, environmental and social safeguard systems,” he said. He expressed hope that investment in the SPESSE project would institutionalise the practice of procurement, environmental and social standards in Nigeria. While commending the NUC for its role in institutionalising the study of procurement, environmental and social standards in the Nigerian University System, the vice-president thanked other stakeholders for working towards the success of the SPESSE project. He said the choice of six centres, one in each of the six geopolitical zones, would ensure inclusiveness and guarantee maximum benefits. In his remarks, the World Bank Country Director for Nigeria, Shubham Chaudhuri,

said Apart from investing in infrastructure, the Bank is more focussed on reevaluating the human capital required to deliver on the needs of people. “I am thrilled that this critical need is going to be addressed through SPESSE. We look forward to working with all of you,” he said. Also speaking, the Executive Secretary of NUC, Prof. Abubakar Rasheed, represented by his deputy, Dr. Chris Mayaki, stated that the journey towards the launch of the project was painstaking. He expressed delight that the journey towards offering professional and academic activities to ensure good governance, effectiveness in service delivery, among other things, had started. He stated that the project was Nigeria’s first attempt at institutionalising the much needed sustainable and credible qualification framework in the field of procurement, environmental and social standards, that would offer professional and academic programmes in such a sustainable and fit-for-purpose manner According to him, though the project was originally designed to be a fouryear programme (2020-2024), there was however some hitches including the COVID-19 pandemic. He said although the centres might be behind schedule, he was convinced that with their level of commitment and determination, the objectives of the project would be attained. The task team leader for the project, Chief Bayo Awosemusi, said with SPESSE, Nigeria will be one of the few countries in the world offering such a holistic

Issues relating to construction, rehabilitation and extension of existing buildings, acquisition and development of lands, purchase of laboratory equipment, disposal of reagents and samples from sick people and animals, amongst others must conform with world standards. To achieve this, there is an absolute need to build the adequate technical capacity required for eﬃcient and eﬀective procurement, environmental and social systems

wide-scale support to professionalisation of procurement, environmental and social standards. HE said there would be an incentive for centres if at least 30 per cent of the students enrolled for the courses were females, adding that the team is striving for equal participation of both genders. While calling for the cooperation of all stakeholders to enable the project to attain the potential of positioning Nigeria to be the hub for Africa, the team leader said the SPESSE graduates will not only be abundant in public sectors, but also in industries, private businesses, civil society organisations and the donor community. He announced that the World Bank in Nigeria has decided to condition PES employment in Bank-funded projects to practitioners who have graduated from SPESSE. “We will have at least 25,000 such professionals by 2024, so we invite MDAs in Nigeria as well as the donor community to proceed along the same lines.” Awosemusi added that job creation and increasing employability are further supported by the project through a participatory internship programme with partner industries, private and public employers; “at least 2,300 students will benefit from such a programme,” he said. In his remarks, the Permanent Secretary, Federal Ministry of Education, Sonny Echono, who represented the minister, said the project would afford the private sector, government and academia the opportunity to address the skills gap in procurement, environmental and social standards. He cited a report released 20 years agos, which revealed that out of every naira spent in government business, only 40 kobo services was rendered, and that nearly 70 per cent of activities in Nigeria had to do with procurement. He therefore urged the country to take advantage of the platform presented by the world Bank to produce the right kind of personnel that would take charge of its procurement. On his part, the Statistician-General of the Federation, Simon Harry, urged the stakeholders to allow statistics to guide the entire process. Responding on behalf of the benefitting universities, the Vice-Chancellor of UNILAG, Prof. Oluwatoyin Ogundipe, promised that the centres would make the country proud and facilitate the spread of the programme to other parts of the world.

T H I S D AY ˾ WEDNESDAY NOVEMBER 3, 2021

EDUCATION

Encomium as Supreme Govt Urged to Introduce Critical Thinking to Primary School Pupils School Turns 30 Uchechukwu Nnaike

The management and staff of Supreme Education Foundation School recently rolled out the drums to celebrate the 30th anniversary of the school. The pioneer members of the board and the school’s past and present staff were all full of praise for the school’s founder, Mrs. Adenike Adamolekun, for her kindness, focus, and continuous improvement despite all odds. Highlighting the journey so far, Adamolekun said at every stage, she aligned her thoughts with the words of Yeats that “education is not the filling of a pail, but the lighting of a fire.” The founder said one milestone that will remain fresh in her memory is relocating to the permanent site. She said the school overshot its budget due to an unforeseen state of affairs, and the association with one of the banks turned the table against the school. But she succeeded in the end. In her remarks, the Lagos Commissioner for Education, Mrs. Folashade Adefisayo,

urged school owners to emulate Adamolekun by focusing on and delivering quality education that appeals to parents. One of the pioneers governing council members, Venerable Adelowo Adesina, commended the founder for transforming the school and urged her to keep aspiring for excellence. “As long as you ensure that you employ quality staff who really want to serve humanity and God through teaching, then you can ensure quality and standard. And once you can maintain quality and standard, the sky is the beginning, not the limit,” he said. The school’s CEO, Mrs. Olubukola Adewuyi, said over the past three decades, the leadership of the school has partnered with members of the Supreme community to set bold and exciting directions, which enabled them to overcome many challenges both as a school and a corporate body, The school also honoured long-serving members of staff (10-24 years).

Mudiame University Trains 1,000 Youths, Inaugurates Governing Council Mudiame University recently flagged off a training programme for about 1,000 youths to enable the university host community benefit as the university concludes arrangements to resume academic activities. The university has also inaugurated its Governing Council headed by Nigeria’s former ambassador to the UK and one time, Ambassador and Special Representative of the Chairperson of the African Union Commission, Akin Fayomi, who is also the Prof-Chancellor of the institution. The university, which is one of the latest 20 private universities licensed by the Federal Government aimed at disrupting university education in the country by bridging the gap between industries and the academic field. Speaking at the university campus in Irrua, Edo State,

Chancellor of the university and Managing Director, Mudiame International Limited, Prof. Sunny Eromosele Eboh stated that the training programme, which would be on a rolling basis would create a win-win situation for the institution and the communities hosting the school. Disclosing that the university is currently admitting students to its 13 programmes, Eboh said: “With necessary arrangement already in place, we expect the academic session to flag off in the first quarter of next year.” He noted that while the training is expected to be on a rolling basis, beneficiaries, who have been carefully selected by the communities would be empowered to contribute meaningfully not only to the university but the state and the country at large.

LSUBEB Opens Bid for Schools’ Intervention Projects Funmi Ogundare

The Lagos State Universal Basic Education Board (LSUBEB), recently opened the bid for the year 2019/2020 UBEC/ LSUBEB intervention projects for public schools, aimed at ensuring transparency and accountability in the process of award of contracts. Over 106 bidders applied for construction of blocks of classrooms, rehabilitation of blocks of classrooms, supply of furniture and establishment of boreholes with overhead tanks for public primary schools in the state. Speaking at the opening ceremony, the Chairman of the board, Wahab Alawiye-King

noted that the process was in line with the state public procurement law and the THEMEs agenda, which seeks to enhance probity, accountability, transparency, competitiveness and valuefor-money. The process, the chairman, added, will eliminate favouritism, avoid misuse of public funds, and stimulate advantageous marketplace competition in the delivery of critical infrastructure in the state and basic education sub-sector in particular. The chairman said the process was to ensure that public primary education meets global standards, adding that stringent rules had been put in place by the government to ensure that no project would be left undone.

Kemi Olaitan ÓØ ÌËÎËØ

An educator, Dr. Leo Igwe, has called on the government at all levels in the country to introduce critical thinking as a subject for pupils in primary schools. This is just as he advised governments to provide critical thinking materials in all primary schools across the country, noting that this is necessary because it is one of the top skills that employers now require from prospective employees. Igwe while speaking in Ibadan during a workshop organised for teachers in some selected public primary schools in Oyo State, said the government should as a matter of urgency introduce

it as a subject because it is part of recognised areas by national policy on education. The author who spoke shortly after donating some critical thinking materials to pupils of selected public primary schools in the state appealed to governments to do everything possible to let the pupils develop critical thinking abilities at a young age. “Our appeal to the government is to help in introducing the subject. Because the government has put it in the national policy, but, it is important that they also encourage the development of the materials. Critical thinking materials, there should be books, workshops and critical thinking materials in our schools. So this

is my appeal to the Federal Government to understand that we already have it in the national policy, but we need one more step which is developing the materials and encouraging the use of critical thinking materials in our schools. “One thing is that critical thinking is one of the top skills and recently the world economic forum identified critical thinking as one of the skills that employers of labour are going to look out for. So, that is number one. Number two, critical thinking is also part of the skills that the national policy on education says that primary education should encourage. “Page 10 of the national

policy on education says that the aim of primary education is to encourage the teaching of critical thinking skills. But we don’t have books that encourage or help to cultivate critical thinking skills. What I have done is to help develop critical thinking materials which we are now using as part of critical thinking materials. I am the one behind the critical thinking project whose aim is to introduce critical thinking as a subject at primary schools. So, in Oyo state, we have been given a go-ahead to organise workshops in primary schools with a goal of seeing how this subject could be introduced.”

Seplat Energy Rewards Winners of Pearls Quiz Uchechukwu Nnaike

Seplat Energy Plc, the operator of the NPDC/Seplat Energy Joint Venture (JV), has concluded its 2021 Pearls Quiz competition with Peniel Academy, Boji Boji Owa, Agbor, Delta State emerging as the winner. The Seplat Energy Pearls Quiz, held at the Government House Asaba, Delta State, is an education enhancement initiative, one of its Corporate Social Responsibility (CSR) programmes for host communities in its areas of operation in Edo and Delta states. Two Edo secondary schools, Pioneer Education Centre and Igbinedion Education Centre, Benin City, came second and third positions, respectively. While Peniel Academy received the star prize of N7

million, it also got a trophy and the three students that represented it got N100,000 each; Pioneer Education Centre got N3 million, a trophy and its three students got N75,000 each; while Igbinedion Education Centre got one N1 million, a trophy and its three students got N50,000 each. After the keenly contested quiz competition, all teachers from all the participating schools got a tablet, while the teachers of the four finalists were given a laptop each. The participating students thrilled Edo and Delta States’ functionaries and management of Seplat Energy with their performance. Goodwill messages from Delta State Government and NPDC were mixed with commendations for Seplat Energy,

and other corporate bodies were tasked to emulate the company’s initiatives in developing their host communities. Governor Ifeanyi Okowa, represented by the Commissioner for Secondary Education, Mrs. Rose Ezewu, stated, “It is no gainsaying that NPDC/ Seplat Energy JV has made a remarkable impression in the education industry in both Delta and Edo states. It is a milestone that has left a lasting impression in the mind of students, teachers and the schools through interventions in education.” In her remarks, the Director, External Affairs and Sustainability, Seplat Energy, Dr. Chioma Nwachuku, represented by the Western Assets Base Manager, Mr. Emmanuel Otokhine, explained that the

quiz is targeted at boosting the quality of education in the states where Seplat Energy operates. She reiterated that the programme aimed to provide facilities in schools in the states within areas of operations of Seplat Energy. While thanking Okowa for his support, she also congratulated the winning schools and urged others to improve their performance. Also, the CSR Manager of Seplat Energy, Esther Icha, disclosed that the oil company had introduced several new awards for participating schools, including ‘Best Behaved School’ and ‘Most Promising School, amongst others. This year’s Pearls Quiz also featured chronographic and cultural dance performances by students of different schools.

From Left: The CEO, Supreme Education Foundation School, Mrs. Olubukola Adewuyi; founder of the school, Mrs Adenike Adamolekun; Lagos State Commissioner for Education, Mrs Folashade Adeﬁsayo; and CEO, Edumark, Mrs. Yinka Ogunde, at Supreme’s 30th anniversary... recently

Group Warns against Hurrying Children through School Mary Nnah

Legal Adviser for A Mother’s Love Initiative, Mr. Uchechukwu Michael Ginika, is of the opinion that students are more likely to have academic success if they are not hurried through their early childhood by parents who overestimate their competence and overexpose them to academic

pressures. According to him, the concept permeates the entire fabric of society, manifesting in heightened domestic roles, undue academic expectations and excessive demands, child labour, child marriage, etc. For this reason, the initiative is championing a cause in Africa to salvage the future of African children.

To achieve this, the NGO has been using various strategies, including the documentary, ‘The Hurried Child: An African Perspective’, that creates awareness on the ills of hurrying children through school. The documentary will be launched at Protea Hotel by Marriott, Kuramo Waters Close on November 19, 2021, by 11:00 a.m., to commemorate of the

World Day for the Prevention of Child Abuse. The event will consolidate the call for action by other stakeholders and engage the town and gown on the Hurried Child syndrome. Ginika emphasised that the documentary is a media advocacy documentary aimed at reorienting the subtle but hurtful concept of hurrying the child through life.

T H I S D AY ˾ WEDNESDAY NOVEMBER 3, 2021

EDUCATION

Teachers Need Digital Skills for Future of Work, Experts Say Uchechukwu Nnaikei Teachers have been urged to equip themselves with the right digital skills to enable them prepare learners for the future of work. This was the major highlight from the just concluded October edition of Ed-Tech Mondays, an initiative of the Mastercard Foundation, in partnership with ccHub Limited. The virtual session was moderated by Joyce Daniela, social engineering practitioner. Leading the discussion with the theme “Enabling Teachers to Lead and Innovate”, the founder, Schoolinka, Oluwaseun Kayode said teachers must begin to see digital skills as an enabler that would assist them in meeting the demands of 21st century learners as well as improving the quality of teaching in Nigeria. He explained that lack of access to professional

development and absence of incentives for training are the major stumbling blocks to the quality of teaching and outputs in today’s competitive world. He stated that part of the solutions needed to increase access for teachers on personal development lie with Ed-Tech companies leveraging economies of scale and reducing cost of access. “Ed-Tech companies must strive or find ways to break the barriers of access and affordability for teachers to be attracted to personal development. Ed-Tech companies must go the extra mile to provide incentives for teachers to access professional development either by offering job opportunities for those who passed through them or making them available to those who value quality teachers,” he added. He stressed that stakeholders must begin to work together to

bring about systemic change in the teaching profession by ensuring that both recruitment process and the training for teachers are revamped. Also speaking, a Microsoft certified educator, Victoria Abiola said 21st century teachers must be intentional and conscious about their personal development, adding that leveraging the use of technology would not only make learning enriching to the students but also aid the teaching process. She urged concerned stakeholders to play their part by organising as many training opportunities as possible for teachers, reducing the cost of internet connectivity such that, in time, teachers are able to support learners for the future of work. “Training should be organized and it must be made flexible for them to participate. Apart from that, Ed-Tech communities

should be created for teachers to join so that they can brainstorm and share their knowledge and challenges faced in the implementation of those digital skills”, she said. On his part, a CISCO certified network administrator and a public-school teacher, Philip Ewuoso explained that despite the fact that students- teacher ratio in public schools is overwhelming, the advent of digital technology has changed the game as more students are now being reached even in the face of the COVID-19 pandemic. “For instance, I have a blog where I keep my notes, upload my teaching materials for students to access before coming to class. This means that I have more time to engage the class regardless of the population, take them through the notes, discuss with the students and get feedback”, Ewuoso added.

Greensprings Teachers Emerge State Champions in Teacher-of-the-year Award In what can be regarded as an unprecedented accomplishment, two teachers from Greensprings School have been pronounced state champions in the 2021 Maltina Teacher of the Year Award. One of the teachers, Mr. Lanre Oguntoye, won the Lagos state champion, while the other, Mr David Oluwadara, who recently joined Greensprings from a school in Osun state,

won the Osun state champion. Oguntoye said, “The process started around April when interested teachers across the country filled questionnaires and submitted their portfolios about their teaching pedagogy. The edition has a special focus on teachers’ understanding of the SDGs and how they link to academics.” He added, The quality of our lesson planning and teaching

philosophy was also tested, and we were assessed on how we developed our lessons in line with the SDG. Another important part of this process is peace education, which assesses how teachers teach students about cultural diversity to maintain peace in our society.” Commending the teachers, Mrs Lai Koiki, the school’s Executive Director, said, “The Greensprings School

community is proud of these teachers, and we celebrate them. The confidence they portray in doing what they know how to do best and doing it with all sense of sincerity is commendable. I am sure the award is a well-deserved reward for their sincere love for the teaching profession and their determination to give the best to their students.”

Teacher’s DIARY KEHINDE OMORU

www.kayomoru.com

INFLATION AND THE PURCHASING POWER OF TEACHERS

eachers are presently worse hit by the current inflation. The steady rise of prices for goods and services for sometime now has really affected teachers with concomitant effect on our school children. If teachers’ income are fixed, definitely inflation would be a bad omen in running their affairs. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money that are in the pockets of teachers. The objective of most school teachers is to impact knowledge, which is adjudged globally as a veritable source of power in a seamless manner. This is specifically to ensure that students live and work successfully in any state that they find themselves in our globalized world. However, in this days of inflation, most teachers in our schools now find it very hard to concentrate and often times now sleep off spasmodically in class. What is majorly responsible for this is insomnia that is occasioned by fatigue. This is as a result of too much thinking now usually associated with the economic reality in our dear country. Our teachers are worse hit and this now affects their total concentration. Insomnia is difficulty falling asleep or staying asleep, even when a person has the chance to do so. People with insomnia can feel dissatisfied with their sleep and experience usually symptoms such as low energy, difficulty in concentrating, decreased performance in school and general fatigue. What would make a teacher constantly drop his/her head on the table, in the staff room and sleep off? Worse still what would make you doze off during staff meetings, whilst important matters are being discussed. Why are you not addressing the constant embarrassment you suffer, when your students catch you sleeping or dozing in class? A common culprit in this matter is the issue of this insomnia which is a recurrent experiences of inadequate sleep. Sleep is an essential part of good health and wellbeing. A good night’s sleep helps you feel good, look healthy, work effectively and think clearly. Sleep impacts positively on your mind, body and soul. Your body’s organs and systems are at work, conducting healing and tissue repairs, whilst you are asleep. Your brain and mind re-calibrate whilst you are sleeping and body growths occur whilst you are asleep. Sleep however is not always easy to come by. If you sometimes or always have trouble falling asleep or staying asleep, you are not alone especially now that the economic situation in our country is dire! Daytime drowsiness is often indicative of a sleep problem that is potentially dangerous to your health, if not treated urgently. This is why government should critically look into this present economic crisis as it affects teachers in our schools. The efforts of our teachers should be appreciated at all times more so, when they are the ones responsible for the training of our politicians and the wealthy people no matter the angle you look at this unassailable fact! Efforts should be geared toward bringing down of the current inflation since it ominously erodes the value of cash, and encourages teachers to spend their meagre emoluments on stock ups thereby losing focus on the teaching of our children. -Omoru is a freelance writer, education, health and social care advocate

L-R: The Social Secretary of Oxford and Cambridge Club of Nigeria, Mr. Emmanuel Lawan; past President, Fubara Anga SAN; President, Lanre Fatimilehin, Canadian Deputy High Commissioner,Teshone Nkrumah; British Deputy High Commissioner, Ben Llewellyn-Jones and his wife, Laura; past President, Dr. Timi Austen-Peters and Mr. Ade Laoye, at the association’s 2031 May Ball, in Lagos... recently

Awori Ajeromi Senior Grammar School Wins DOAM Foundation Debate Contest Funmi Ogundare Awori Ajeromi Senior Grammar School, Agboju, has emerged winner of the annual inter-school debate competition organised by Daniel Ogechi Akujobi Memorial (DOAM) Foundation. The competition titled ‘Social Media is the cause of Depression Among Youths’ was aimed at creating awareness on the adverse effect of social media on the youths and consciously improving their diction, public speaking

skills, and critical thinking. The winning school, represented by Master Kingsley Okorie and Miss Joy Anosike, scored 50.3 points to receive microwave oven, electric kettles and stationeries. Festac Senior Grammar School, Festac, Town came second with 43.6 points to win a rechargeable fan, electric kettles and school stationeries. They beat four other schools among the six senior secondary schools within the Education District V, Agboju, that participated in

the completion. Speaking at the programme held recently in Lagos, the foundation’s founder, Mrs. Sotonye Akujobi, urged students who represented schools that did not win to work harder and do better in a future outing. The Team Lead, Mrs. Adaeze Anyanna stated that the debate programme is part of the foundation’s Leadership, Education, Aspiration and Development (LEAD) initiative designed to inspire students to become better

and responsible citizens while also creating a new generation of future leaders and achievers. The English teacher of Awori Ajeromi Senior Grammar School, Mrs. Helen Ugwuka, told THISDAY how she prepared her students for success. She said, “I allowed them to study the topic and explained what they ought to do to them. They then take the topic home to source for points online so that they can understand better.” The programme directly

Oxford, Cambridge Alumni Club Meet, to Raise Funds for Scholarships Members of the Oxford and Cambridge Club of Nigeria, the alumni association of the Universities of Oxford and Cambridge in Nigeria, recently held their 2021 May Ball in pomp and pageantry, as part of efforts to keep members engaged and raise funds for students in need of sponsorship for postgraduate degrees at both universities. The programme held at the Oriental Hotel, Lagos, was graced by the British Deputy High Commissioner, Ben Llewellyn-Jones and his wife, Laura. In his remarks, the club president, Lanre Fatimilehin, expressed excitement about the meeting after more than two years, adding that the pandemic had brought challenges for the

club. He noted that, earlier in the year, the members had continued the drive to raise funds for students who needed sponsorship for postgraduate degrees at both universities. A former president, Fubara Anga (SAN), recalled that one of the first people he ran into at Cambridge was former Chief of Staff to President Muhammadu Buhari, Abba Kyari and the late Dr. Bolu Akin-Olugbade, also his classmate at Kings College. He said Akin-Olugbade was instrumental in the club’s birth. “All of us here have the tools to be the change that we want to see. We can’t all be depressed, discouraged and dissuaded. We need the courage to confront the challenges we are facing in this country today,” he said.

T H I S D AY ˾ WEDNESDAY NOVEMBER 3, 2021

EDUCATION

Lagos First Lady Celebrates International NGO Establishes Peace, Literacy Day with Underserved Children Environment Clubs in Oluchi Chibuzori

The wife of Lagos governor, Ibijoke Sanwo-Olu, has joined hands with Street Child Care and Welfare Initiative (SCCW) a nongovernmental organisation to put smiles on children from underserved communities in line with activities to mark 2021 World Literacy Day. The call was made as Emmanuel Sylvia, a student of Ladilak Institute, Gideon Orunna, St. Dominic

Primary School and Whesu Olamide, emerged first, second and third respectively at the SCCW Kids can spell competition. The competition winner went home with a N100,000 grand prize, while the first and second runner-ups went with N50,000 and N30, 000 respectively. Ibijoke, who was delighted to join the Street Child Care and Welfare Initiative as part of activities to commemorate this year’s International

Literacy Day, noted the need for more effort in the face of challenges occasioned by COVID-19. Represented by the wife of Yaba LCDA chairman, Oluwakemi Omiyale, she said, “I must specifically give you a pat on the back for your series of periodic Street Outreach across Lagos State metropolis geared towards reaching out to the homeless children on the street and equally seeing how to extend care including shelter

and protection services to them.” Meanwhile, the President Board of Trustees, SCCW, Comfort Alli, said the spelling competition was their own way of celebrating the global literacy day. She reiterated the need for individuals and stakeholders to support such causes as it encourages children to focus on learning, improves them mentally and prepares them for great things ahead.

Group: Public Ofﬁcials’ Children Should Attend Public Schools Hammed Shittu ÓØ ÖÙÜÓØÓ A pro-democracy group, ‘Kwara Must Change’, has advocated for compulsory for all public officials to enrol their children in public schools in the state. The group said the gesture would go a long way in returning confidence in the country’s public schools. Speaking with journalists in Ilorin shortly after an advocacy visit to the Commissioner for Tertiary Education, Science and

Technology, Mr. Sulaiman Ibrahim, the group coordinator for Gender and Women Affairs, Mrs. Mopelola AbdulMaliq-Bashir said, “It wouldn’t be in the best interest of the public for those who are paid to formulate policies for the smooth running of the state to now distance themselves from the benefits of the policies.” She added that enrolling their wards in public schools would build public trust in government policies and

programmes. She also used the opportunity to appreciate the present administration on her investment in education. She singled out for commendation the efforts of the state government in repositioning tertiary education in the state. She specifically mentioned the renovation of the hall that has been abandoned for close to twenty years and the ongoing renovation of another abandoned hostel project.

In his response, the Commissioner for Tertiary Education, Science and Technology, Mr. Ibrahim, thanked the group for being a partner in progress. Responding to the issues raised by the team, the commissioner said, “There is nothing as rewarding as having the children of every public official in public schools. However, the legal encumbrances must be critically looked into to avoid cutting our nose to spite our face.”

Schools

Sylvester Idowu ÓØ ËÜÜÓ The Centre for Peace and Environmental Justice (CEPEJ) has inaugurated Peace and Environment Clubs (PECs) in over 15 secondary schools. CEPEJ has the mandate to promote peace whilst advocating for environmental best practices among young ones for a better society. The most recent PECs were established in Abuja to serve as “safe spaces” with the idea of catching them young and bringing the next generation together from different social and cultural backgrounds to discuss critical issues, especially those relating to peace, conflict prevention/management and environmental sustainability, as well as share values of tolerance and civic responsibility. The National Coordinator

and CEO of CEPEJ, Mulade Sheriff, commended the FCT board for its partnership to enable the NGO to establish the PECs and inaugurate PEC coordinators for Government Senior Secondary School, Bwari, and Mabushi Secondary School, both in Abuja. The principal of Government Secondary School, Bwari, Dr. Nse Martina Ikwo, and that of the Government Secondary School, Mabushi, Mr. Muhammed Shaba, lauded the initiative. The Programme Director of CEPEJ, Mrs. Nafisat Amadu Abdulmalik, said one of establishing the clubs is to Improve life skills (leadership, negotiation, decision making, values, self-esteem, conflict management etc.) in young persons and other beneficiaries.

Govt Urged to Pay More Attention to Education Folalumi Alaran ÓØ ÌßÔË The founder and Chairman of the Mani Robson Foundation, Mr. Mani Robson, has said the country needs to pay more attention to the educational system, as primary education is currently in its worst state. Robson stated this in Abuja, at the first reading of his book titled ‘Once Upon a Plume’s Gait’ an anthology of poems. “So you see young people going to a life of crime, getting involved in the vice we see in the society, prostitution, drug abuse, Yahoo-Yahoo, and old of that. Young people need to appreciate the fact that there is the dignity of labour and there is value in you gradually building your capacity and be-

ing successful,” he explained. “The next priority will be the health care system, the wealth of any country is its people, if you invest in your people and they are healthy they will be able to be very productive in the work environment. The author, who hails from Cross River, while disclosing that come 2023, he will be running for the governor of the state, added that one of his top priorities, when elected, would be to focus mainly on the country’s educational system. Speaking further, he said his book was based on past experiences while growing up, going deep into exploration and the idealistic view about how things should be.

NSSEC, SSEB Collaborate to Improve Quality of Secondary Education Segun Awofadeji ÓØ ËßÍÒÓÓ

A cross section of staﬀ of Credit Direct and the Principal, Opebi Senior Grammar School, Mrs. Olugbewesa, with the MD/ CEO Credit Direct Limited, Mr. Akinwande Ademosu, during the company’s visit to the school as part of activities marking the Customer Service Week 2021

Greensprings Students Win KPMG Debate Two students of Greenspring School, Lagos, Emmanuela Ilok and Khalid Seriki, have been declared the first prize winners of this year’s KPMG debate. The declaration came after the students scaled through the essay stage and participated in intense debate sessions on ‘Which is better, onsite or online learning?’ The two students narrated their experience during the

competition’s final, stating that though the debate’s structure was unfamiliar, they emerged victorious due to the school’s exposure. “The first round was easier. But with the unexpected dynamics introduced during the second round of the debate, we can say that our victory can be credited to being persistent and striving for accuracy, which are part of the ‘Habits of Mind,’

a concept in our school’s Thinking School philosophy. We are also grateful to all our English teachers who helped in developing our debating and public speaking skills.” Expressing her happiness about the victory, the Secondary School Principal, Greensprings School, Anthony Campus, Mrs. Magdalene Okrikri, said she was impressed by the students’ performance at

each competition stage. “I am highly impressed with their strong communication skill, confidence, and their ability to persist all through the debate sessions.” The KPMG debate is an annual secondary school debate organised by KPMG Nigeria. The first prize winners go home with a cash prize of 400,000 and other exciting prizes.

The Executive Secretary of the National Senior Secondary Education Commission (NSSEC), Dr. Benjamin Abakpa, has expressed optimism that the collaboration and synergy between NSSEC) and the State Senior Secondary Education Boards(SSEB) will undoubtedly improve the quality of senior secondary schools, especially in the areas of Science, Technical, Vocational and entrepreneurial education in the country. As part of its resolve and determination to reposition the education sector, the Federal Government established the National Senior Secondary Education Commission (NSSEC) to serve as a regulatory and intervention agency for secondary education in Nigeria. Abakpa spoke in his welcome address at the advocacy and sensitisation forum on establishing National Senior Secondary Education Commission for

stakeholders from the NorthEast geopolitical zone held at Command Guest House, Bauchi. Abakpa said that only the senior secondary education has no functional regulatory and intervention agency, hence the establishment of NSSEC with the Minister for Education, Malam Adamu Adamu. In his keynote address, Dr. Aliyu Tilde, Bauchi Commissioner for Education, said NSSEC would be the UBEC of senior secondary schools. He said the commission would take over 95 per cent of the work of State Ministries of Education (SMEs) in senior secondary Schools, adding that SMEs would henceforth not be involved in running secondary schools but SSSEB. Tilde, who lamented the roles of corrupt officials and politicians in handling contracts, said, “But as far as contracts are concerned, many officials and politicians will smile at the banks.”

T H I S D AY ˾ WEDNESDAY NOVEMBER 3, 2021

CITYSTRINGS

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

Changing the Narrative on Enugu Water Problem from the Root Samson Ezea

ometime in March this year, several social media platforms in their usual sponsored mob action lamented and mocked the Ugwuanyi administration over the perennial water scarcity in Enugu state that has been prevalent in the state for decades now. Lacking information and knowledge, coupled with ulterior motive, they blatantly apportioned blames and threw tantrums to Governor Ifeanyi Ugwuanyi's government for not tackling the challenge headlong. In short, they made it look as if the scarcity was a thing of today and the creation of Ugwuanyi's government. Indeed' the social media buzzed and the peddlers seemed to have a field day. To put the record straight, I wrote an article then titled "Enugu Water Scarcity and Social Media Mischief Makers" where I went down memory lane to explain how perennial water scarcity has been part and parcel of Enugu for more than two decades due to the topography of the state, lack of competence/ sincerity on the part of management of the state water corporation and the failure of successive governments in the state to address the challenge from the root cause. I reminded the public that Governor Ugwuanyi and all government officials need potable water like every other resident of the state, a major reason his government couldn't have glossed over the challenge as was insinuated by some persons on social media. Fortunately and coincidentally, this drama unfolded at a time, Governor Ugwuanyi's administration had mapped out a comprehensive machinery and programmes to fundamentally tackle the challenge. But under the politicized environment, coupled with usual hypocrisy, the social media irritants glossed over Ugwuanyi government's efforts in that direction as clearly unveiled and elucidated by the Governor's Special Adviser on Water Resources, Hon. Anthony Dubem Onyia. Onyia had assured residents of the state that the issue of inadequate water supply, one of the key challenges the administration of Governor Ifeanyi Ugwuanyi inherited, will soon be history. He maintained that Ugwuanyi administration is doing a lot, with the lean resources at its disposal, to address the issue of water in Enugu metropolis. He noted that some areas in Enugu metropolis, such as, Iva Valley, GRA, New Haven, Ogui/Asata, Uwani, parts of Achara Layout, Abakpa Nike, Trans Ekulu, Independence Layout and Thinkers Corner enjoy potable water supply, and reassured residents in other areas that they will soon enjoy adequate potable water supply. He disclosed that the state government had commenced comprehensive rehabilitation of the 9th Mile Crash Programme, with solar powered boreholes to ensure adequate supply of potable water from Oji River, Ajali and Iva Water schemes to Enugu metropolis. Onyia revealed that a contract of N600 million was recently awarded to FordMarx Nigeria Limited, for the rehabilitation of the 9th Mile Crash Programme, adding that the company has mobilised to site. The Special Adviser explained that the contract which will be solar powered, to address the peculiar challenges of power failure, will boost the volume of water being reticulated from the ageing water schemes to Enugu metropolis. He revealed that the state government had commenced the bid opening and evaluation meeting for new Okwojo

MD Fordmax Nigeria Limited, Dr. Cliﬀord Nnaji at the site of the project supervising, explaining and showing the extent of massive work progress Ngwo boreholes augmentation to Enugu metropolis. Onyia said that the Okwojo Ngwo boreholes augmentation to Enugu metropolis, which is a network of 10 solar powered boreholes, is a newly conceived design which will help boost water production for the newly awarded 9th Mile Crash Programme. “It will equally augment the existing water schemes in order to effectively manage and meet the demand of the growing population of Enugu metropolis”, he said. At the managerial level, Onyia pointed out that Gov. Ugwuanyi’s administration, in its determination to address the issue of water in the state, recently constituted the Board of Enugu State Water Corporation, headed by a foremost consultant in the water industry and the first Managing Director of the corporation, Engr. Innocent O. Diyoke, to vigorously drive the state government’s sustained programmes towards ensuring adequate supply of potable water in the state. The governor’s aide further disclosed that the state government, in February 2021, advertised for the post of Managing Director of the State Water Corporation Board and has hired one to join the team for effective implementation of its agenda in the sector. He further explained that the state government has also committed funds to the actualisation of FG Adada Dam Water Project in Nsukka, to guarantee its speedy actualization, stressing that Gov. Ugwuanyi’s administration is not relenting in its bid to increase the sources of potable water supply,

and to continue to maintain existing facilities. Dissecting Ugwuanyi government's efforts and approaches towards tackling the perennial water scarcity in Enugu, it is clear that the government’s commitment and determination is not in doubt or questionable. Clearly the government is determined, diligent and transparent in tackling this age long problem and requires the support of everyone, and not cynicism. However, despite the above mentioned programmes and efforts of Ugwuanyi's administration in addressing the problem of water scarcity in Enugu, the few who some never see anything good in Ugwuanyi's government remain doubtful of his sincerity and commitment to the cause. The cheering news is that Ugwuanyi's government has proved the armchair critics and bookmakers wrong again. Just less than a year, the Ninth Mile borehole contract awarded by his government is nearing completion. Speaking recently at the project site, the Managing Director of FordMarx Nigeria Limited, Dr. Clifford Nnaji, who is handling the complete rehabilitation of the 9th Mile Crash Programme being executed by the administration of Governor Ifeanyi Ugwuanyi of Enugu State, after over 30 years since the water project was abandoned, has assured residents of Enugu that the issue of potable water supply will soon be a thing of the past. Nnaji who spoke on the extent of work done at the site, disclosed that the water scheme which involves the conversion of 13 industrial boreholes

Water will be available at an affordable and sustainable rate because the rehabilitated boreholes are powered by solar as we will not wait for the grid electricity or diesel powered generator to pump water

to solar power to ensure availability and sustainability of water reticulation to Enugu metropolis “is over 90 percent completed”. Each of the rehabilitated boreholes is solar powered, to address the peculiar challenges of power failure. Speaking further, the Managing Director of FordMarx Nigeria Limited stated that “we are getting more than what we expected in terms of the quality of water and soonest we will be rounding off”. He assured that “water will be available at an affordable and sustainable rate because the rehabilitated boreholes are powered by solar as we will not wait for the grid electricity or diesel powered generator to pump water”. He revealed that after servicing the 13 boreholes they discovered at the site, eight of them are now in good working condition stressing that there is enough potable water and they have seen more than what they expected”. According to him, “the borehole can sustain more than the size of the pump we proposed initially. The borehole can sustain more than 100 horsepower pump. We had expected something about 500 cubic meters per day from a hole, but now we are getting more than double of what we expected”. The contractor who listed other ongoing projects at the site such as perimeter fencing of 250 plots of land covering the facility, severe gully erosion control of about 15 meters depth and a security tower with CCTV cameras, commended Gov. Ugwuanyi for his unrelenting commitment to the massive water project aimed at addressing the challenges of water supply in Enugu, pointing out that the governor “is the man of the people who listens to the voice of the people”. What a giant stride again by Ugwuanyi's administration. It is hoped that those who took on Ugwuanyi's government on social media early this year over water challenge in Enugu will be courageous, sincere and altruistic enough to peddle to the world the great achievements made so far in that direction. -Ezea writes from Independence Layout, Enugu.

T H I S D AY ˾ WEDNESDAY NOVEMBER 3, 2021

CRIME&SECURITY

Charting Course for Domestic Violence Survivors with ‘Speak to INU’ In view of the need to ensure survivors of domestic violence get help and have easy access to necessary services, the Lagos State Domestic and Sexual Violence Response Team in partnership with the Lagos branch of Pharmaceutical Society of Nigeria recently launched the ‘Speak to INU’ code scheme, Sunday Ehigiator reports

Participants at the two days training program for community licensed pharmacists, organised by the Lagos State Domestic and Sexual Violence Response Team (DSVRT)

nalysis of the bi-annual (JanuaryJune, 2021) report of the Lagos State Domestic and Sexual Violence Response Team (DSVRT) revealed that at least 60 per cent of survivors of domestic violence sought assistance at their community pharmacies. Out of this percentage, 50 per cent declined visiting the police or the hospital for medical attention. In the report, some of the survivors disclosed that they were not aware of the designated police stations or the health facilities where help could be accessed. They were also more comfortable accessing support at their community pharmacy. It was in view of the findings of the report, and to ensure that survivors of domestic violence get necessary help as required, and easy access to needed services, that the Lagos State Domestic and Sexual Violence Response Team partnered the Pharmaceutical Society of Nigeria (Lagos Branch) with a view to introducing and implementing the ‘Speak to INU’, as a coded word for victims of domestic violence to get help. Speaking to THISDAY at a two-day training program for community licensed pharmacists, organised by DSVRT, the program Coordinator, Titilola Adeniyi, said ‘Speak to INU’ would provide survivors of domestic violence access to help and other relevant support. “Our data revealed that at least 50 per cent of survival of domestic would approach their community pharmacy to access help after an abuse has occurred. And out of the 50 per cent, a good number will not go to either a police station or hospital to incident the case. “This became very apparent during the COVID-19 lockdown. So we felt that it was important for us to reach those people because they were not captured in the system. They were not going to the hospital, police or government,

'Speak to INU' Program Coordinator, Titilola Adeniyi and if violence is not checked, it will happen again. “So we reached out to the Pharmaceutical Society of Nigeria, Lagos Branch, and communicated our intentions to them, which is to create a situation where the

pharmacy can present itself as a safe space for survivors of domestic violence because that's the first place they head to for pain relief after suffering the violence. “So we thought it was possible for us to leverage the fact that they easily

Our intentions to them is to create a situation where the pharmacy can present itself as a safe space for survivors of domestic violence because that's the first place they head to for pain relief after suffering the violence

would go to a pharmacy, and when they go, they should make use of the code word, 'Speak to INU, I Need You'. This code word simply communicates to the pharmacist that they had just suffered from domestic violence and they needed help. “So, immediately they make this statement, they are taken in to a consulting or counseling room, where they are now offered the different options available and the referral part can then be activated. “We believe that the pharmacy environment lends itself well to this scheme. Indeed, the pharmacy can be a safe space for survivors of domestic violence. To this end, survivors of domestic or sexual violence would be able to make use of the code in accessing help and other relevant support. “This would be provided for by the pharmacist, and where necessary and desired, onward referrals would be made to DSVRT. “So the idea is, if a person is experiencing abuse, please go into a community licensed pharmacy, and use the code word, 'I Want to Speak to INU', then a trained pharmacist will know what you mean. They will take you into the counseling room, and give you the options available, put you in touch with us, where you can receive a mirage of services, legal support, medical attention, empowerment etc, and they are all free of charge. “We anticipated that it may be that the survivor rushes out of the home, and runs into a pharmacy, at that point, the pharmacy present itself as a safe space. And the pharmacist can then assist the survivor to even be protected from the abuser. “It is an innovation that we are all very excited about because this is a demographic that we have not been able to capture for so long into the system. Not just in terms of data, but also in ensuring that they are able to get adequate support,” she said.

T H I S D AY ˾ ˜ NOVEMBER 3, 2021

BUSINESS/MONEYGUIDE

Ogun to Set Up SMEs Industrial Cluster, Train 10,000 MSMEs Dike Onwuamaeze The Ogun State Government has announced that it would set up industrial cluster for Small and Medium Enterprises (SMEs) and conduct a business clinic that would empower 10,000 Micro, Small and Medium Enterprises (MSMEs) in the state. These were announced by the Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe, during a virtual stakeholders’ engagement meeting on MSMEs. Longe said: “All these efforts will further create employment and wealth generation opportunities. Our ministry, in collaboration with the Ogun State Agricultural and Multipurpose Credit Agency (OSAMCA), recently disbursed

N850 million to over 22,000 beneficiaries across the state,” adding that the present administration is developing a framework for the setting up industrial clusters that would be exclusively devoted for SMEs in order to boost the development of small businesses in the state. She stated that the clinic would focus on five critical sectors, which include agro-processing, food and beverages, solid minerals, Information Communication Technology (ICT), and beauty and textile sectors. The commissioner said that the beneficiaries of the business clinic would be empowered through access to capital, business registration, capacity building, as well as training and mentoring. She noted that the clinic

would be held in Abeokuta, Ijebu-Ode, Sagamu, Ado-Odo/ Ota, and Obafemi Owode Local Government Areas. Longe assured that the government would continue to provide support services, linkages and facilitate access to capital, adding that the ministry, in collaboration with the OSAMCA, has empowered over 22,000 beneficiaries. In his welcome address, the Special Adviser to the Governor on Industry, Trade and Investment, Mr. Remi Ogunmefun, who was represented by the Permanent Secretary in the Ministry, Mr. Olu. Ola, disclosed that the state government, through the ministry is in regular engagement with MSMEs to develop workable solutions would be provided to re-energise the sub-sector.

Montblanc Unveils New Store in Lagos, Reiterates Commitment to Nigeria Montblanc, the leading global Maison for luxury business lifestyle, has opened its first standalone boutique in Nigeria, together with longstanding partner Polo Luxury. Located in The Palms Shopping Mall, Lekki, Lagos – Nigeria’s premier lifestyle and shopping destination, the boutique offers an immersive retail experience with dedicated areas for watches, writing instruments, leather goods, accessories and Montblanc’s growing range of technology devices. The luxury Maison adds a new dimension to the mall’s luxury offering with its Neo2 design concept by French designer and interiors architect Noé Duchaufour-Lawrance. Currently being rolled out globally, the design articulates the Maison’s long-standing passion for craftsmanship and

presents a pure and uncluttered aesthetic, mixing black, white and wood for a contemporary retail environment that engages and inspires. Home to a wide selection of Montblanc’s core writing instruments, the boutique also showcases a variety of soughtafter collections. These include the latest Montblanc Meisterstück Around the World in 80 Days collection that pays homage to the great literary adventure by French author Jules Verne, and brings to life the fantastical story of world circumnavigation through elegant design elements inspired by the themes of the classic adventure. The section of the new boutique dedicated to the exceptional quality leather goods crafted by Montblanc, includes a variety of iconic collections and travel accessories designed to meet an urban

explorer’s every need with their sleek, modern designs and refined functionality. Watch enthusiasts will relish the extensive range of high complication timepieces, including the Montblanc 1858, and for those bridging timepieces and tech, the latest edition of Montblanc’s elegant smartwatch Summit Lite is also available in the boutique’s growing section of classy tech products. “We are delighted to be opening our first standalone boutique in Nigeria, and to be doing so with our longstanding partner in this key African city. We have been pioneers in luxury on the continent, having introduced Montblanc here almost 30 years ago, and we have full confidence in our long-term future here,” said Alain Dos Santos, Regional Managing Director of Montblanc Africa.

Huawei Empowers NigerianYouths though Global ICT Competition Three Nigerian students are set to win the sums of N1 Million, N700,000 and N500,000 respectively in the ongoing 2021 Huawei global ICT competition ending on November 7. The winners will also get a chance to be awarded internship opportunities, get free Huawei devices including laptops and smart devises as well as Huawei Certification vouchers. One of the vital part of the competition is a roadshow - an avenue to intimate the students about the ICT Competition as well as the ICT Academy program. “The Huawei ICT Competition is a competitive ICT talent exchange event developed by Huawei for University and College students globally to

promote the healthy development of the ICT talent ecosystem and support the integration of industry and education. Nigerian students have participated in this competition since 2018, with over 40,000 Nigerian students registering for the competition cumulatively since 2018. Nigerian students reached the 3rd position in the Global final in 2018-2019. “In the 2019-2020 competition, students from Ahmadu Bello University, University of Port Harcourt and University of Ibadan clinched 2 of the grand prizes in the Cloud and Network Track,” Mr Kenneth Ogwe, the ICT Talent Ecosystem manager said in a statement issued at the end of the awareness road show. “This is part of Huawei’s

CSR programs under which the company is unrelenting in investing heavily in nurturing local ICT talent to compete equally with counterparts from across the globe. This is in addition to growing the local ICT talent ecosystem, strengthening capacity building and increasing people’s digital competence.” he said. “Despite the Covid-19 pandemic, Huawei Nigeria did not relent in its efforts in ensuring Nigerian students register under its Authorized Information and Network Academy and get thoroughly trained in core ICT skills. Trainings and classes are online based, engaging hundreds of students across the country on their computer screens from the comfort of their homes.

FCMB Receives Commendation At Global SME Finance Summit First City Monument Bank (FCMB), has received another global commendation for its consistent and outstanding support towards the growth of Small and Medium Scale Enterprises (SMEs) in Nigeria. The bank had last week in the United States of America, received honourable mentions and certificates in two prestigious award categories – “SME Financier of the Year” and “Best Bank for Women Entrepreneurs” - at the highly competitive Global SME Finance Summit and Awards 2021

organised by the International Finance Corporation (IFC), a member of the World Bank Group. According to the IFC, the honourable mention of FCMB in the “SME Financier of the Year” award category is in recognition of the Bank’s outstanding service to businesses operating in International Development Association (IDA) countries and fragile and conflict-affected situations. In addition, in the “Best Bank for Women Entrepreneurs” category, FCMB was commended

for offering exceptional services, including funding and capacity building, to women-owned businesses. Endorsed by G20’s Global Partnership for Financial Inclusion (GPFI) and the SME Finance Forum, the Global SME Finance Awards was launched in 2018. It celebrates the outstanding achievements of financial institutions and fintech companies in delivering exceptional products and services to their SME clients that have achieved impressive results.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, OCTOBER 7

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

T H I S D AY ˾ ˜ ͱ˜ ͰͮͰͯ

Caverton Records N27.1bn Revenue in Q3 2021 Chinedu Eze Below are some of the highlights of the Quarter 3, 2021 Unaudited Results: Caverton Offshore Support Group Plc has announced a revenue of N27.1 billion for the third quarter ended September 31, 2021 as against N23.6b recorded in the comparable period of 2020. The company’s unaudited results showed a gross Profit

of N8.81 billion compared with N7.9 billion earned in 2020. Total Operating Profit, (excluding Finance Cost), stood at N4.48 billion as against N4.18 billion in 2020. The company recorded a profit after tax of N1.19 billion as against N1.16 billion in 2020. Caverton in a statement said the result came in the face of the serious negative impact that the Covid-19 pandemic continued to have on business operations

P R I C E S MAIN BOARD

F O R

DEALS

in Nigeria and the rest of the world. This, the company said, has caused significant reduction in activities by international and local oil and gas companies who are the major clients of Caverton. Commenting on the results, Caverton’s Chief Executive Officer, Bode Makanjuola said that the result was an indication of the company’s relentless tenacity to streamline its operations in the face of the challenging

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

economic conditions, to ensure sustained business survival and profitability. To further boost revenue and profit the Caverton said it has been re-strategizing towards exploring further opportunities within and outside the oil and gas sector. Makanjuola further stated that Caverton’s Maintenance Repair and Overhaul (MRO) facility and its Simulator Training Centre, both in Lagos, which officially

T R A D E D MAIN BOARD

A S

commenced business operation in the second half of 2021, have moved up remarkably. However, as expected with new projects, the income stream from these two new projects would gradually grow as the company seeks out clients not only in Nigeria but across Sub Saharan Africa. “As we move into the final quarter of the year, we are particularly proud to announce that the Caverton Aviation

O F

Training Centre (CATC) full flight simulator gained full certification by EASA, (European Union Aviation Safety Agency), in October 2021. “The EASA’s mission is to promote the highest common standards of safety and environmental protection in civil aviation. The Agency develops common safety and environmental rules at the European level,” Makanjuola said.

0 2 / 1 1 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

WEDNESDAY, ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

Wednesday, November 3, 2021

dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĚĞĐůŝŶĞĚ ϭϯďƉƐ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĨĞůů ďǇ ϭϰďƉƐ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĨĞůů ďǇ ϭϯďƉƐ ƚŽ ĐůŽƐĞ Ăƚ ϭ͕ϳϳϲ͘ϰϰ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĚĞĐůŝŶĞĚ ďǇ ϭϰďƉƐ ƚŽ ƐĞƩůĞ

THISDAY AFRINVEST 40 INDEX

ƉŽŝŶƚƐ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƐĞůůͲŽīƐ ŝŶ 'd K ;ͲϬ͘ϰйͿ͕ E/d, ;ͲϬ͘ϲйͿ͕ Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ ĂŶĚ t W K ;ͲϮ͘ϱйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ

t W K ;Ͳϭ͘ϯйͿ͕ ĂŶĚ h ;ͲϬ͘ϳйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂͲ ϭϵ͘ϭй ŽĨ ƚŚĞ ŝŶĚĞǆ͘

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘

Ticker

THISDAY AFRINVEST 40

1,776.44

-0.13%

780.00

0.0%

28.7%

74.50

3.5%

10.8%

-3.7%

28.30

-0.4%

8.1%

-12.5%

dŚĞ ƵůůƐ ŽŵŝŶĂƚĞ ƚŚĞ DĂƌŬĞƚ͘͘͘ ^/ ƵƉ ϵďƉƐ

^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй zĞƐƚĞƌĚĂǇ͕ ƚŚĞ ŵĂƌŬĞƚ ƌĞƚƵƌŶĞĚ ƚŽ ƚŚĞ ŐƌĞĞŶ ǌŽŶĞ ŽŶ ƚŚĞ ďĂĐŬ

zĞƐƚĞƌĚĂǇ͕ ƉƌŝĐĞ ƵƉƟĐŬ ;нϯ͘ϱйͿ͕ ŝŶ /Ed Z t ,KEz&>KhZ ŽĨ ďƵǇŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ h D Ed ;нϵ͘ϲйͿ͕ ;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, ;нϬ͘ϳйͿ ďŽůͲ ĂŶĚ E'^h' Z ;нϬ͘ϵйͿ ĂƐ ƚŚĞ E'y ůůͲ^ŚĂƌĞ /ŶĚĞǆ ƌŽƐĞ ϵďƉƐ ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ ƚŽ ϰϮ͕Ϭϭϯ͘ϯϵ ƉŽŝŶƚƐ͘ ĐĐŽƌĚŝŶŐůǇ͕ ƚŚĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ŐĂŝŶĞĚ േϭϵ͘ϭďŶ ƚŽ േϮϭ͘ϵƚŶ ƚŽ ^ŚĂƌĞ ŝŶĚĞǆ ǁŚŝůĞ zd ƌĞƚƵƌŶ ƌŽƐĞ ƐƚƌĞŶŐƚŚĞŶĞĚ ďǇ ϰ͘ϯй͘ DĂƌŬĞƚ ĂĐƟǀŝƚǇ ǁĂƐ ƵŶĞǀĞŶ ĂƐ ǀŽůƵŵĞ ƚƌĂĚĞĚ ĨĞůů ϭϱ͘ϳй ƚŽ ϭϭďƉƐ ƚŽ ϯϵ͕ϱϱϬ͘ϯϲ ƉŽŝŶƚƐ͘ ŽŶƐĞƋƵĞŶƚůǇ͕ zd ůŽƐƐ ŝŵͲ ϯϭϵ͘Ϭŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ϭ͘ϭй ƚŽ േϯ͘ϯďŶ͘

ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďǇ h ;ϱϮ͘ϲŵ ƵŶŝƚƐͿ͕ & E, ;ϯϬ͘ϱŵ ƵŶŝƚƐͿ͕ ĂŶĚ E/d, ;േϮϵ͘ϵŵͿ

േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ǁĂƐ ŵŝǆĞĚ ĂƐ ǀŽůƵŵĞ ĞŵĞƌŐĞĚ ĂƐ ƚŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďǇ ǀŽůƵŵĞ ǁŚŝůĞ E/d,

ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďǇ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ

Price Previous Current Change Price YTD Weighting Change

Current Price

1 Airtel Africa PLC 2 BUA Cement Plc 3 Guaranty Trust Holding Co PLC 4 Zenith Bank PLC 5 Dangote Cement PLC 6 MTN Nigeria Communications PLC 7 Nestle Nigeria PLC

Price Change Index to Date

15.0%

3.5%

14.7%

5.2%

-3.7%

19.1%

11.2%

35.8x

6.7x

-12.5%

24.8%

3.9%

4.3x

1.1x

10.6%

23.4% 29.5%

6.8%

0.8%

20.9%

2.8%

3.4x

0.7x

12.0%

6.9%

14.3%

40.4%

16.7%

13.9x

5.4x

6.0%

7.2%

175.60

0.0%

5.0%

3.4%

179.2%

14.1%

12.7x

19.2x

5.9%

7.9%

0.0%

3.7%

-7.0%

106.8%

15.6%

27.2x

32.0x

4.3%

3.7%

26.80

-2.5%

4.2%

27.3%

11.6%

8.4%

10.0x

1.1x

3.7%

10.0%

9.30

-1.6%

3.1%

10.1%

17.0%

1.4%

2.6x

0.4x

9.1%

38.3%

8.50

-0.6%

2.6%

-1.7%

2.1x

0.4x

6.5%

46.8%

10.00

-7.0%

3.4%

39.9%

1.0%

4.7x

0.5x

4.3%

21.4%

52.50

0.0%

1.9%

-6.3%

5.3%

1.9%

48.4x

2.5x

2.1%

39.00

-0.1%

2.0%

3.3%

15.4%

2.0%

9.0x

1.4x

10.5%

11.2%

-11.4%

-4.5%

10 United Bank for Africa PLC 11 FBN Holdings Plc 12 Nigerian Brew eries PLC 13 Stanbic IBTC Holdings PLC

-4.2% 12.3%

731.50

0.0%

1.9%

81.8%

ďǇ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ

16 SEPLAT Energy PLC 17 11 PLC 18 Okomu Oil Palm PLC 19 Fidelity Bank PLC

135.00

0.0%

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

1.2%

48.4%

2.67

-2.2%

0.7%

6.0%

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

20 Ecobank Transnational Inc 21 Dangote Sugar Refinery PLC

ďƵǇŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ h D Ed ;нϯ͘ϱйͿ͘ dŚĞ Kŝů Θ

14 International Brew eries PLC 15 Flour Mills of Nigeria PLC

0.0%

22 FCMB Group Plc 23 Sterling Bank PLC 24 NASCON Allied Industries PLC 25 Transnational Corp of Nigeria 26 Presco PLC 27 Unilever Nigeria PLC

ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞǆ ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d

28 PZ Cussons Nigeria PLC 29 United Capital PLC

ŝŶĚĞǆ ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ /Ed Z t ;нϵ͘ϲйͿ͕ E'^h' Z ;нϬ͘ϵйͿ͕ ĂŶĚ , DW/KE

30 Guinness Nigeria PLC 31 Custodian and Allied Insurance

'ĂƐ ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ĐůŽƐĞĚ Ϭ͘ϳй ĂŶĚ Ϭ͘ϲй ŚŝŐŚĞƌ

ƐĞƋƵĞŶƟĂůůǇ ĨŽůůŽǁŝŶŐ ƚŚĞ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ K E K ;нϰ͘ϭйͿ͕

Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ ;нϭ͘ϰйͿ͘ KŶ ƚŚĞ ŇŝƉ ƐŝĚĞ͕ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ƐŚĞĚ ϭ͘ϱй ĂƉŝĞĐĞ ĚƵĞ ƚŽ ƐĞůů ƉƌĞƐƐƵƌĞ ŽŶ & E, ;Ͳϳ͘ϬйͿ͕ ^^ ;Ͳ ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ ϭ͘ϲйͿ͕ ĂŶĚ // K ;Ͳϱ͘ϮйͿ͘ ϵ͘ϭйͿ͕ hE/> s Z ;Ͳϯ͘ϱйͿ͕

>/E< ^^hZ

;Ͳϲ͘ϰйͿ͕

ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĂŶĞƐ ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďǇ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůůͲ

ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬ

32 AIICO Insurance PLC 33 TotalEnergies Marketing Nigeri 34 Julius Berger Nigeria PLC 35 Wema Bank PLC 36 Union Bank of Nigeria PLC 37 Oando PLC

T ic k er

>/E< ^^hZ ;нϳ͘ϱйͿ ůĞĚ ŐĂŝŶĞƌƐ ǁŚŝůĞ h E ;Ͳϵ͘ϳйͿ͕ &dE KͲ

ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘

IN T B R EW

K ;Ͳϴ͘ϳйͿ͕ ĂŶĚ & E, ;Ͳϳ͘ϬйͿ ůĞĚ ƚŚĞ ůĂŐŐĂƌĚƐ͘ /Ŷ ƚŚĞ ŶĞǆƚ ƚƌĂĚͲ

LA SA C O

ŝŶŐ ƐĞƐƐŝŽŶ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ ƚŽ ƌĞŵĂŝŶ ŵŝůĚůǇ ďƵůůŝƐŚ ŽŶ

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ĂĐƟǀŝƟĞƐ͘ /ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲǆ ŽƌƉŽƌĂƚĞ ŝƐĐůŽƐƵƌĞ ĨƌŽŵ ϭ͘ϯǆ ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ zĞƐƚĞƌĚĂǇ͕ d ZE WůĐ ŶŽƟĮĞĚ ƚŚĞ ǆĐŚĂŶŐĞ ĂŶĚ ŝŶǀĞƐƟŶŐ ƉƵďͲ

1.1x

-10.0%

4.5x

0.7x

5.7%

22.2% 5.9%

3.4%

1.9%

16.9x

0.6x

5.6%

48.4%

38.8%

25.2%

9.2x

3.2x

5.2%

10.9%

6.0%

12.7%

1.2%

2.3x

0.3x

8.2%

43.1%

15.6%

-100.0%

8.20

-3.5%

0.9%

36.7%

1.5%

0.1%

27.1x

0.3x

0.9%

0.5%

-5.4%

25.6%

12.1%

6.4x

1.5x

9.0%

3.7%

3.00

-6.0%

0.5%

-9.9%

1.46

-2.7%

0.3%

-28.4%

10.1%

0.9%

3.2x

0.3x

3.4%

14.65

0.0%

0.4%

1.0%

20.7%

5.9%

13.8x

3.0x

2.7%

7.3%

1.03

-1.9%

0.4%

14.4%

-1.3%

-0.3%

0.6x

1.0%

-2.1%

89.00

0.0%

0.3%

25.4%

2.1x

1.1%

15.60

0.0%

0.2%

12.2%

-1.3%

-0.8%

1.4x

6.35

0.0%

0.2%

19.8%

5.0% 31.5%

-1.0% 4.0%

9.00

0.0%

0.4%

91.1%

2.0x

7.8%

39.90

0.0%

0.4%

110.0%

8.1%

3.8%

14.2x

1.1x

1.1%

7.0%

8.45

0.0%

0.3%

44.4%

24.7%

7.5%

4.2x

1.0x

6.9%

24.0%

1.28

-5.2%

0.2%

13.3%

12.2%

1.8%

12.8x

0.6x

240.80

0.0%

0.3%

85.2%

1.8%

18.3%

25.00

0.0%

0.2%

41.9%

18.3%

2.4%

4.4x

0.8x

1.6%

23.0%

0.81

-4.7%

0.2%

17.4%

13.7%

0.8%

3.8x

0.5x

4.9%

26.2%

-4.8%

0.0%

-100.0%

7.1%

0.8%

5.6x

0.6x

5.0%

4.1%

0.2%

30.8%

14.5%

2.6%

2.1x

0.3x

4.7x

0.6x

30.8%

7.8%

5.5x

62.50

0.0%

0.1%

0.0%

-38.7%

-9.5%

52.95

0.0%

0.1%

-4.4%

14.8%

10.1%

5.38

0.0%

49.4%

17.7% 48.0%

2.1x

-20.1% 2.0%

21.4%

0.9x T o p 10 T r a d e s b y V o l u m e

T o p 10 G a i n e r s

ǁĞŝŐŚĞĚ ϭϬ ŐĂŝŶĞƌƐ͘ ĂŶĚ Ğƌ͕ ƵƉ ϭ͘ϴй /Ed Z t ĚƌŝǀĞŶ ;нϵ͘ϲйͿ͕ ďǇ > ^ K ƉƌŝĐĞ ;нϴ͘ϯйͿ͕ ĂƉƉƌĞĐŝĂͲ

10.6%

16.65

4.84

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

ĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϯǆ ĨƌŽŵ Ϭ͘ϲǆ ĂƐ ϯϭ ůĂŐŐĂƌĚƐ ŽƵƚͲ ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ

2.8%

1,400.00

8 Lafarge Africa PLC 9 Access Bank PLC

ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ

15.3%

0.0%

-4.2%

dŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ůĞĚ ƚŚĞ ƉĂĐŬ͕ ƵƉ ϭ͘ϭй ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

2.3%

-0.6%

12.3%

ϯ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ͕ Ϯ ůŽƐƚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ŝŶĚĞǆ ĐůŽƐĞĚ ŇĂƚ͘

5.1%

25.00

1.5%

WĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŵŝǆĞĚ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁŝƚŚŝŶ ŽƵƌ ĐŽǀĞƌĂŐĞ ĂƐ

0.8x ot Applicable

280.00

1.2%

DŝǆĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

5.4x

Divindend Earnings Yield Yield

-8.4%

9.6%

P/BV

77.6%

-0.8%

ŬĞƚ ŝŶ ƚĞƌŵƐ ŽĨ ǀĂůƵĞ͘

P/E

-8.4%

5.70

ƚƌĂĚĞĚ ƌŽƐĞ ďǇ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ

ROA

21.0%

29.20

;േϳϰϳ͘ϲŵͿ͕ h ;േϰϰϲ͘ϵŵͿ͕ ĂŶĚ & E, ;േϯϭϯ͘ϴŵͿ ůĞĚ ƚŚĞ ŵĂƌͲ

ROE

P ric e

P ric e C hg %

Vo lum e

P ric e C hg %

5.70

9.6%

UB A

52.6

-0.6%

1.17

8.3%

FB NH

30.5

-7.0%

LIN KA SSUR E

0.57

7.5%

Z EN IT H B A N K

29.9

-0.6%

CHA M S

0.24

4.3%

CHA M S

15.5

4.3%

OA N D O

4.84

4.1%

T R A N SC OR P

14.1

-1.9% -5.2%

C OR N ER ST B UA C EM EN T J A IZ B A N K

T ic k er

0.59

3.5%

A IIC O

13.8

74.50

3.5%

J A IZ B A N K

11.9

3.3%

0.63

3.3%

SOVR EN IN S

11.7

0.0%

C H A M P ION

2.86

1.4%

F ID ELIT YB K

9.9

-2.2%

D A N GSUGA R

16.65

0.9%

UA C N

9.0

-9.7%

ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ D zͲ ůŝĐ ŽĨ ƚŚĞ ĐŽŶĐůƵƐŝŽŶ ŽĨ ƐŚĂƌĞŚŽůĚĞƌƐΖ ĚŝǀĞƐƚŵĞŶƚ ĨƌŽŵ ƚŚĞ ĐŽŵͲ T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s

ƉĂŶǇ͘ ƚŽ ,KEz&>KhZ ƚŚĞ ĚŝƐĐůŽƐƵƌĞ͕ ƚŚĞ ůĞĚ ƐŚĂƌĞŚŽůĚĞƌƐ < Z ĐĐŽƌĚŝŶŐ ;нϵ͘ϴйͿ͕ ĂŶĚ ;нϵ͘ϴйͿ ŐĂŝŶĞƌƐ ƐŽůĚ ϳϵϰ͕ϵϲϵ͕ϳϳϰ ŽƌĚŝŶĂƌǇ ƐŚĂƌĞƐ ƌĞƉƌĞƐĞŶƟŶŐ ϲϬ͘ϵϴй ƐŚĂƌĞ ŝŶ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ

T ic k er

P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

UA C N

10.20

-9.7%

Z EN IT H B A N K

747.6

-0.6%

^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ zĞƐƚĞƌĚĂǇ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ ĂŶĚ ŵĂũŽƌŝƚǇ ƐŚĂƌĞŚŽůĚĞƌ͘ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝǆĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůǇ

F T N C OC OA

0.42

-8.7%

UB A

446.9

-0.6%

FB NH

10.00

-7.0%

FB NH

313.8

-7.0%

UN IT YB N K

0.54

-6.9%

M TNN

221.9

0.0%

ǁŝŶĚƐ ƵƉ͘

C H IP LC

0.56

-6.7%

WA P C O

199.6

-2.5%

FCM B

3.00

-6.0%

GT C O

151.4

-0.4%

WA P IC

0.48

-5.9%

ST A N B IC

118.2

-0.1%

A IIC O

1.28

-5.2%

N GXGR OUP

98.9

0.0%

ƚŚĞ ĐŽŵƉĂŶǇ ƚŽ WƌĞůŝŶĞ >ŝŵŝƚĞĚ͕ ǁŚŝĐŚ ŚĂƐ ďĞĐŽŵĞ ƚŚĞ ůĂƌŐĞƐƚ

Afrinvest West Africa Limited

UB N

5.00

-4.8%

UA C N

91.5

-9.7%

UN IVIN SUR E

0.20

-4.8%

D A N GC EM

90.6

0.0%

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com Robert Omotunde | romotunde@afrinvest.com Abiodun Keripe | AKeripe@afrinvest.com Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu| dasimiyu@afrinvest.com

WEDNESDAY NOVEMBER 3, 2021• T H I S DAY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust): is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 01Nov-2021, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 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 100.00 100.00 9.85% AIICO Balanced Fund 3.32 3.38 -3.72% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 8.77% Anchoria Equity Fund 143.10 144.91 7.58% info@anchoriaam.com Anchoria Fixed Income Fund 1.14 1.14 -14.03% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 20.68 21.30 14.00% ARM Discovery Balanced Fund 450.89 464.49 12.62% ARM Ethical Fund 39.59 40.79 17.45% ARM Eurobond Fund ($) 1.08 1.09 -1.27% ARM Fixed Income Fund 0.98 0.99 -6.18% ARM Money Market Fund 1.00 1.00 8.26% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund N/A N/A N/A AVA GAM Fixed Income Naira Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.07 2.07 -4.45% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.25 2.30 4.74% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.10% Paramount Equity Fund 17.43 17.75 8.98% Women's Investment Fund 141.69 143.35 6.48% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund N/A N/A N/A Cordros Milestone Fund 2023 N/A N/A Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) N/A N/A CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 7.51% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 8.18% EDC Nigeria Fixed Income Fund 1,161.05 1,181.94 0.95% assetmanagement@emergingafricafroup.com EMERGING AFRICA ASSET MANAGEMENT LIMITED Web:www.emergingafricagroup.com/emerging-africa-assetmanagement-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.34% Emerging Africa Bond Fund 1.03 1.03 2.62% Emerging Africa Balanced Diversity Fund 1.13 Emerging Africa Eurobond Fund 103.82 FBNQUEST ASSET MANAGEMENT LTD Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price FBN Bond Fund N/A FBN Balanced Fund N/A FBN Halal Fund N/A FBN Money Market Fund N/A FBN Dollar Fund (Retail) FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund

N/A N/A Bid Price 1.00 3.99 1.71 1.19

1.13 12.48% 103.82 3.78% invest@fbnquest.com Offer Price N/A N/A N/A N/A

Yield / T-Rtn N/A N/A N/A N/A

N/A N/A N/A N/A fcmbamhelpdesk@fcmb.com Offer Price 1.00 3.99 1.75 1.19

Yield / T-Rtn 6.72% 3.04% 12.32% 5.14%

FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund N/A N/A N/A Coral Income Fund N/A N/A N/A Coral Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 7.24% Vantage Balanced Fund 2.90 2.96 1.40% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 154.54 154.82 -0.62% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.33 1.93% Vantage Dollar Fund (VDF) - June Year End 1.06 1.06 3.56% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.47 1.49 7.64% Lotus Halal Fixed Income Fund 1,143.10 1,143.10 7.19% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.97 12.03 14.30% Meristem Money Market Fund 10.00 10.00 10.07% 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) 100.57 100.58 7.28% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.27% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.60 1.63 13.02% PACAM Fixed Income Fund 11.01 11.03 -9.38% PACAM Money Market Fund 10.00 10.00 6.35% PACAM Equity Fund 1.49 1.50 -5.74% PACAM EuroBond Fund 111.97 114.08 2.06% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 136.06 137.52 11.75% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.07 1.07 10.07% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,409.89 3,440.09 6.08% Stanbic IBTC Bond Fund 234.24 234.24 4.18% Stanbic IBTC Ethical Fund 1.28 1.29 8.90% Stanbic IBTC Guaranteed Investment Fund 309.84 309.84 5.15% Stanbic IBTC Iman Fund 235.45 239.03 7.90% Stanbic IBTC Money Market Fund 100.00 100.00 7.68% Stanbic IBTC Nigerian Equity Fund 11,160.68 11,322.85 6.37% Stanbic IBTC Dollar Fund (USD) 1.28 1.28 4.52% Stanbic IBTC Shariah Fixed Income Fund 116.21 116.21 4.62% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 104.94 104.94 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.34 1.36 4.75% United Capital Bond Fund 1.94 1.94 5.67% United Capital Equity Fund 0.93 0.96 16.69% United Capital Money Market Fund 1.00 1.00 8.80% United Capital Eurobond Fund 121.26 121.26 5.92% United Capital Wealth for Women Fund 1.09 1.10 6.40% United capital Sukuk Fund 1.07 1.07 6.72% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.16 13.28 10.92% Zenith ESG Impact Fund 14.66 14.82 20.13% Zenith Income Fund 24.59 24.59 2.49% Zenith Money Market Fund 1.00 1.00 6.32%

REITS NAV Per Share

Yield / T-Rtn

124.98 53.90

10.62% 6.67%

Bid Price

Offer Price

Yield / T-Rtn

13.96 131.65 104.23 18.03 21.56

14.06 134.93 106.51 18.13 21.66

5.61% 9.49% 5.05%

Fund Name SFS REIT Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.04 5.63 17.90 1.00 21.70 157.75

4.14 5.73 18.10 1.00 21.90 159.75

7.52% -0.91% 10.49% 6.59% 5.71% -15.03%

NAV Per Share

Yield / T-Rtn

107.28

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

WEDNESDAY, NOVEMBER 3, 2021 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Russia Holds Black Sea Navy Drills With Eye on US Ships Russia’s Black Sea naval forces practised destroying enemy targets on Tuesday as Moscow bristled at the presence of two US warships in the area. President Vladimir Putin said on Monday that Russian forces could observe the USS Mount Whitney navy command ship “through binoculars or in the crosshairs of its ... defence systems” and complained about NATO activity near Russia’s borders. On Tuesday, the Black Sea fleet said its ships had rehearsed destroying enemy targets and that their air defence systems had been put on alert at its bases in Novorossiysk and on annexed Crimea, the Interfax news agency reported. “They ... destroyed airborne targets of a mock enemy with anti-aircraft missile weapons and artillery,” it said in a statement. Russia has previously warned Western countries against sending warships to the Black Sea and approaching the coast of Crimea, the peninsula it annexed from Ukraine in 2014. Russia considers Crimea part of its territory, but the peninsula is internationally recognised as part of Ukraine. Yahoo Stops Services in Mainland China

Yahoo said it stopped providing services in mainland China because of what it described as a difficult operating environment. The US web services provider said in a statement on its website the move took effect on November 1 “in recognition of the increasingly challenging business and legal environment.” November 1 is the date on which China’s Personal Information Protection Law took effect. The law limits what information companies can compile and standardises how it must be archived. Other content restrictions on internet companies also were recently imposed. China previously blocked Facebook, Google and most other global social media sites and search engines. Users in China can still access these services by using a virtual private network (VPN). In October, Microsoft stopped providing its Linkedin business and employment service in China, citing a “more challenging operating environment and greater compliance requirements in China.” US Suspends Ethiopia’s Duty-Free Access Over Tigray Violations

Citing “gross violations of internationally recognised human rights,” the United States on Tuesday said it suspended Ethiopia’s

duty-free access to the US market. Mali and Guinea will also lose access under the African Growth and Opportunity Act (AGOA). “Today, President Biden announced three countries will be terminated from the AGOA trade preference program as of January 1, 2022, absent urgent action to meet statutory eligibility criteria,” said US top trade negotiator Ambassador Katherine Tai in a statement. “Our Administration is deeply concerned by the unconstitutional change in governments in both Guinea and Mali, and by the gross violations of internationally recognised human rights being perpetrated by the Government of Ethiopia and other parties amid the widening conflict in northern Ethiopia.” The move against Ethiopia comes as a result of a yearlong civil war in the northern Tigray region, which has caused a humanitarian crisis. Taliban: ISIS Gunmen Stormed Kabul Military Hospital

Afghanistan’s Taliban say militants linked to a regional affiliate of Islamic State, known as Islamic State-Khorasan Province, carried out Tuesday’s assault on the country’s main military hospital in Kabul. Taliban spokesman Zabihullah Mujahid said the raid on the capital’s Sardar Mohammad Dawood Khan hospital in the Wazir Akbar Khan area had killed at least seven people and wounded five others. Among the dead were a child, three women and three Taliban security guards, he added. Witnesses and security guards reported the attack began with a powerful explosion at the entrance to the 400-bed hospital before a second bomb exploded inside the sprawling facility. China Makes No New Pledges at COP26

Chinese President Xi Jinping called on other nations to “step up cooperation” and act on climate targets but offered no new commitments in a statement to the UN Climate Change Conference in Glasgow, Scotland, known as COP26. “Visions will come true only when we act on them. Parties need to honour their commitments, set realistic targets and visions, and do their best according to national conditions to deliver their climate action measures,” said Xi, who is not attending the talks in person. China is the world’s

biggest carbon emitter. China has been facing an energy shortage that sparked widespread power outages over two-thirds of the country in late September. This was one of China’s worst power shortages in a decade. The outages affected factories, leading to concerns about disruptions to global supply chains. Malawians Protest High Cost of Living

that the restraint raised the possibility of the country’s return to a power-sharing agreement. The US special envoy for the Horn of Africa, Jeffrey Feltman, assessed a telephone briefing with reporters from Washington, despite the Sudanese military’s fatal shootings of three protestors. He said the death toll was “far too many” but added, “by and large ... security services exercised restraint and upheld their obligations to respect human rights.” He noted the death toll was not higher because demonstrators did not approach sensitive military locations. “You saw the evidence … of the Sudanese understanding that they need to get themselves out of this crisis by the conduct of the demonstrations,” Feltman said. “I think that demonstrated an understanding by the Sudanese people themselves that they have to be careful and find a way back to the civilianmilitary partnership this transition requires,” Feltman said.

Hundreds of people in Malawi held protests Tuesday in the commercial capital Blantyre against the high cost of living and unemployment, saying both have become unbearable during the current administration. The civil society group known as Human Rights Ambassadors led the protests that attracted a heavy police presence. Among other issues, the protesters accused current President Lazarus Chakwera of failing to fulfil promises he made during the campaign period last year. Steve Chimwaza led the protests. “They promised a lot; they promised rule of law, they promised democracy, they promised 1 million jobs,” Chimwaza said. “They promised cheap driving licenses Taiwan Chip Giant to Expand to Japan Taiwan Semiconductor Manufacturing and passports. Nothing is there.” Company (TSMC), one of the world’s Bill Gates to Donate $315m to Small largest chipmakers, has announced plans Farmers Globally to build a new plant in Japan, a move Philanthropist Bill Gates says the Bill & experts say may help revive Japan’s Melinda Gates Foundation will donate $315 declining chipmaking sector and bolster million to help small farmers worldwide its economic security. grow crops that will adapt to climate The new plant is slated to begin change. operation in 2024, said CEO C.C. Wei, In an interview with VOA from Glasgow, who announced the expansion. attending the UN Climate Change The operation will expand TSMC’s Conference, Gates said the money would worldwide production while fostering go to a seed consortium to help farmers Taiwan’s economic ties to Japan, thrive in changing environments. according to Yukan Fuji, a Japanese “We’re announcing $315 million over the newspaper. next three years for the seed consortium, The move comes as Japanese which is called the CG System. That makes manufacturers and others eye Beijing’s the seeds for all the different countries, intentions toward Taiwan, where most and the big priority for that money will TSMC plants are located. Any disruption be seeds that can be even more productive in Taiwan affecting TSMC production despite the challenge of climate change,” could strain the global supply chain to said Gates. “And so overall, we expect that the snapping point. an additional billion dollars, including our “We have received strong commitment money, will be committed to that effort.” to supporting this project from our customers and the Japanese government,” US: Sudan’s Military Showed Restraint said Wei. During Anti-Coup Protests The Japanese government intends A US envoy said Tuesday the Sudanese to subsidise about half of TSMC’s military exercised restraint during Saturday’s roughly $8.81 billion project, according anti-military coup demonstrations and to TechTaiwan.

WEDNESDAY NOVEMBER 3, 2021 • T H I S D AY

WEDNESDAY NOVEMVER 3, 2021 ˾ T H I S D AY

NEWS

Police Arrest Ogun Woman for Planning Husband’s Kidnap James Sowole in Abeokuta Operatives of the Ogun State Police Command, have arrested a housewife Memunat Salaudeen, for allegedly planning with three others to kidnap her husband. The woman, according to a statement signed by the Police Public Relations Officer (PPRO), for the state command, Abimbola Oyeyemi, said the suspects were arrested on the 1st of November 2021. The statement added that suspects were apprehended at about 6:30 pm along Papa/ Itori road while men of Federal Highway patrol team, led by Inspector Sunday Imohiosen, were on stop and search duty. “The team, accosted three young men namely: Olayinka Lawal, Asungba Nura and Usman Oluwatoyin whose look was highly suspicious on a motorcycle and stopped them for search. “While searching them, a cutlass and a new strong rope was recovered from them. The team quickly separated them and questioned them individually about their mission in that area with rope and cutlass. “The three of them gave different answers to the question, this further aroused the suspicion of the policemen,

who then decided to interrogate them more. “In the course of interrogation, the three of them confessed that it was one woman who was later identified as Memunat Salaudeen that gave them the

sum of N8000 to buy a cutlass and a rope strong enough to tie a human being. They confessed further that, the woman who is a nurse in their area at Balogun tuntun Gas line Ifo, asked them to go and hid somewhere along

that road, and that she will lure her husband to the place where they will kidnap him and tie him with the rope and then ask for ransom. “They further informed the police that, the woman told

them that, that is the only way she can get money from her husband who she accused of being very stingy despite the fact that he has money. “It was the place they were going according to their plan

before they were intercepted by the police. The woman was subsequently brought to the scene, and on seeing the arrested suspects, she admitted being the brain behind the whole thing.

ACCEPT OUR CONDELENCES…

L-R:The Chairman of the Peoples Democratic Party (PDP), Igbo-Eze South Local Government Area, Princess Chinwe Ogbonna; Chairman of the Association of Local Government of Nigeria (ALGON), Enugu State and Chairman, Udenu Local Government Area, Hon. Solomon Onah; his Igbo-Eze South counterpart, Hon. Andy Omeje; former Chief Economic Adviser to the President of Nigeria, Prof. Osita Ogbu and Governor Ifeanyi Ugwuanyi of Enugu State, when the governor paid a condolence visit to Prof. Ogbu over the death of his mother, late Mrs. Irene Uzoamaka Ogbu in Ovoko, Enugu…recently

2023: Middle Belt Bishops Editors Urge Govts to Create Safe Environment for Journalists Ask Businessman, Ayom Ask security agents to ﬁnd missing Vanguard journalist As the world marked the subjected to all forms of threats, the House of Representatives, has member states to do their utmost to to Run for President International Day to End Impunity including kidnapping, torture, been declared missing in the past prevent violence against journalists Chuks Okocha in Abuja

The Conference of Middle Belt Bishops has called on a businessman-turned politician, Mr. Moses Ayom, to contest for the presidential ticket of the All Progressives Congress (APC). The delegates from the Bishops conference include: Arch Bishop Edward C. Williams; Bishop David Usman; Bishop Emmanuel Jayeola, Bishop Olufemi Babalola; Dr. Prophet Sina Abimbola; Bishop Jeremiah Otubor; Bishop Festus Happiness Onyemachi; Bishop Emeka Theodore Nwizugbo; Bishop Timothy Cheren and Bishop Adams Abel Kings. According to the leader, Williams, they are from the Middle Belt Bishops Council, a trans-denominational coalition of passionate clergymen and servant in God’s vineyard, believe in the indivisibility of Nigeria as one nation under God with great potentials, which have failed to be utilised to the fullest capacity. He said: “After prayerful deliberations, we have found it necessary to pay you this historic visit. The outcome of which we believe will determine whether our country remains on the pathway of realising these enormous potential or not.

“Our dear brother, as you are aware, the country is once again undergoing another round of a delicate political transition which if not properly managed will spell doom for all of us.” They told Ayom that they were tired of being mere passengers and on lookers in the vehicle called Nigeria. “The impression is being created that political power at the highest echelon is a ping pong game between the far north and the south while the middle belt is a mere net to be used in scoring points. We as spiritual fathers and watchers in the middle belt have, therefore, decided it is time for us to also stake our claims in this project called Nigeria. “Now is the time to be assured that we are equal stakeholders and not second or third rate citizens in Nigeria. Like they say in pidgin, dem no carry us come. We sef na our papa house we dey. “Nigeria has the opportunity to correct the injustices meted out on the people of the middle belt. We make bold to say the middle belt is the thread that knits Nigeria together. Now is the time to make us feel integral in the affairs of our fatherland,” they said.

Police Arraign 25-year-old Man for Alleged Abduction The police yesterday, arraigned a 25-year-old man, Attahiru Yahaya, before an Ado-Ekiti Chief Magistrates’ Court over alleged abduction. The defendant, of no fixed address, is standing trial on a one-count charge of abduction. The police prosecutor, Inspector Oriyomi Akinwale, told the court that the defendant committed the offence on September 30 at about 8:00 pm in Ado-Ekiti. Akinwale alleged that the defendant unlawfully and

forcefully took away a 17-year-old girl, Ajewole Modupe, out of the custody. He said the parents of the victim have been searching for her for weeks but later saw her in the defendant’s house. He said the offence contravened Section 225 of the Criminal Code, Laws of Ekiti State, 2012. The prosecutor asked the court for adjournment to enable him to study the case file and present his witnesses.

for Crimes Against journalists yesterday, the Nigerian Guild of Editors (NGE) has called on government at all levels to make deliberate and sustained efforts to promote a safe and enabling environment for journalists to perform their work freely. The editors also reminded the government that attacks on journalists have destructive effect on dissemination of information and helpful debate in a democratic space. They expressed concern over the way journalists are increasingly

physical attacks and other forms of harassments. In a statement issued on Monday by NGE’s President, Mustapha Isah and the General Secretary, Iyobosa Uwugiaren, the professional group also called on the security agencies to immediately locate a missing a journalist, Mr. Tordue Salem, investigate all forms of attacks against journalists - with the sole purpose of prosecuting the offenders. Mr. Salem, a journalist with Vanguard Newspapers, who covers

few weeks. The United Nations General Assembly had proclaimed every November 2 as the ‘’International Day to End Impunity for Crimes against Journalists’’ in General Assembly Resolution A/ RES/68/163. The resolution urges member states to implement definite measures countering the present culture of impunity. This milestone resolution condemns all attacks and violence against journalists and media workers. And also urges

and media workers, to ensure accountability, bring to justice perpetrators of crimes against journalists and media workers, and ensure that victims have access to appropriate remedies. While expressing worry over refusal by the appropriate authorities to properly investigate threats of violence and attacks against journalists in the past few years, the NGE said that it is very troubling for an adult like Mr. Salem to just vanish into thin air for the past three weeks without a trace.

Kwara Flags Off Road Project, to Build Tanke Flyover Hammed Shittu inIlorin Kwara State Government yesterday said it will flag off the construction of the Osi-Obbo road on November 11. According to the government, the road is a strategic border motorway connecting Kwara to Ekiti State, ending years of public agony along that corridor. Addressing journalists in Ilorin, Commissioner for Education and

Human Capital Development, Hajia Sa’adatu Modibbo-Kawu said the flag-off of the construction work on the 11.1km road will proceed as planned, barring any unforeseen hitches. She said the cabinet also approved the award of a contract to execute the KwaraLearn programme which seeks to tackle absenteeism, boost school enrolment, upgrade children in

public schools to digital learning, and improve education outcomes. Modibbo-Kawu said the cabinet has also approved for the state government, like every other states in the country, to key into the federal government’s N18 billion bridge finance to underwrite old loans inherited from the former administration as well as execute some infrastructural projects in the state. She said the bridge

finance is the initiative of the federal government to cushion the effects of loan repayment on the states, including the facilities the former administration received in September and December 2015. She also announced that the administration has revoked the initial Kishi-Kaiama road contract initially awarded by the former administration to Rocad Construction Limited.

NULGE: Edo Councils Owe Workers over N4bn Salary Arrears Adibe Emenyonu in Benin-city

The Edo State chapter of the Nigeria Union of Local Government Employees (NULGE) has lamented the over N4 billion owed council staff by the various local government authorities in the state. Consequently, the body called on the state government

and heads of local government administration of the 18 council areas in the state to as a matter of urgency commence payment of the various salary arrears and other deductibles owed council workers in the state. The President of the state chapter of NULGE, Mr. Lazarus Imokhai Adorolo, stated this while fielding questions from journalists

in Benin-city, the state capital. Adorolo said: “Local government workers are downcast in the state as a result of the non-payment of their salaries, outstanding salaries arrears and other deductions from our salaries which also run into millions of naira. “According to our compilations and findings, the 18 LGAs owe worker the sum

of N4, 295, 828, 643.53. “Our expectation was that as the allocation improves, there ought to be corresponding improvement in the payment of outstanding salary arrears and outstanding deductions. Instead, some have managed to pay one and half, others have only paid half while some have only paid some percentages of one month.

Ex-Agitators Warn Amnesty Programme Contractors Blessing Ibunge in Port Harcourt Former Niger Delta agitators have warned firms willing to approach the Presidential Amnesty Programme (PAP) for contracts that it will no longer be business as usual under the leadership of the programme Interim Administrator, Col.

Milland Dixon Dikio. The former agitators explained that Dikio had not awarded new contracts since he came on board because he was interested in sanitising the process to actualise the reintegration phase of the programme. The National Secretary, First Phase Ex-Agitators,

Nature Dumale, spoke in Port Harcourt, Rivers State, yesterday after accompanying Dikio to inspect commercial farms in Uyo, Akwa Ibom State, as part of arrangements to roll out trainings for ex-agitators on agriculture. He said the amnesty boss inherited many ex-agitators, who went through various

training programmes without empowerment, noting that Dikio had evolved a new strategy of Train, Employ and Mentor (TEM) to deal with the shortcomings. Dumale said only contractors whose proposals and facilities were in line with TEM would be considered for fresh jobs in PAP.

WEDNESDAY NOVEMBER 3, 2021 ˾ T H I S D AY

NEWS XTRA

Ndoma-Egba: Nigeria on the Verge of Structural Implosion Bassey Inyang in Calabar Former Senate Leader, Victor Ndoma-Egba, SAN, has warned that except something is done and urgently too, Nigeria was on the verge of structural implosion, because the structures are no longer working. Ndoma-Egba also observed that the nation was more of a unitary state than a federal state that it was supposed to be. Ndoma-Egba, who stated this on Tuesday in an interview with journalists in Calabar, Cross River, said the unitary structure of Nigeria was even more enforced by the

high number of items on the exclusive list against the items on the concurrent list. Expressing worry over what he termed possible structural implosion, he said, “The structure is no longer working. We are are at the point of structural implosion more so as the economy has lost its productive capacity. Manufacturing is grounded and the economy’s absorptive capabilities are zero and unemployment soars by the day. “Social infrastructure has collapsed, social indices are unimpressive and all these are reflective in the security

situation and the value of the naira. Things will only get worse if we insist on retaining the current structure. We have to go back to the drawing board; we must restructure one way or the other.”

The Ekiti State High Court presided over by Justice Abiodun Adesodun, has sentenced a 34year old Afolabi Taiwo, to death by hanging for being guilty of robbery. In his pronouncement yesterday, Justice Adesodun, said : “The prosecution has provided credible, cogent and compelling evidence to establish all the three essential elements of the offence of armed robbery against the defendant as charged. “He is hereby sentenced to death by hanging. May the Lord have mercy on your soul”. According to the charge preferred against him, Afolabi on the 17th of June, 2017 at Oke Osun, Ikere Ekiti, robbed Ayeni Oluwaseun Pius of his Lexus Jeep with Registration Number Lagos KTU 479 DM and also robbed Aturamu Adesina of the sum of N43,000.00, Infinix Note 3 phone among others, at the time of the robbery, he was armed with gun. In their testimony before the court, the victims said they were coming from an outing on the fateful day, when the defendant, who was their neighbour and recognised alongside other three unknown gunmen, came out of their hidings when alighting from the Jeep , attacked them with cutlasses, seized their Jeep and other valuables, tied their hands

Ikpeazu, Okowa, Makinde Pledge to Deliver PDP Guber Candidate, Ozigbo David-Chyddy Eleke in Awka The Governors of Abia, Delta and Oyo States, Mr. Okezie Ikpeazu, Mr. Ifeanyi Okowa and Mr. Seyi Makinde, respectively, yesterday joined the Anambra State Governorship Candidate of the Peoples’ Democratic Party (PDP), in a grand rally ahead of Saturday’s governorship election. Ikpeazu who is also the Chairman of Valentine Ozigbo’s National Campaign Council, led others governors to urge Anambra voters to vote for Ozigbo, insisting they would work to ensure he emerged as governor. He described Anambra people as being among the cream of the country, but chided them for being in an alternative political party saying the cream of Nigeria could not be at the backyard. Similarly, Governor Okowa said that the recently conducted national convention of PDP, which produced new leaders of the party has sent clear signal that the party is ready to take back Nigeria.

and mouth and escaped. The matter was reported at the police station while the Jeep was later tracked in Ore town in Ondo State. To prove his case, the prosecutor,

while it makes the states to be more dependent on the central government for economic survival even when they were considered federating units. “Our situation now can be likened to a car whose engine

has knocked and the owner is trying to fix brand new tyres in the car as a means of getting it to work. The so-called federal structure we have is no longer workable. The center is overburdened.

Lagos Communities Protest Distortion of Master Plan, Proposed Destruction of Property Wale Igbintade Landlords and residents of Ijegun/Ijedodo and Ijagemo in Ojo Local Government Area of Lagos State last Monday

Court Sentences Man to Death for Robbery in Ekiti Victor Ogunje inAdoEkiti

Speaking on the unitary nature of the system, NdomaEgba, who was leader of the 7th Senate from 2011 to 2015, said the unitary nature of the country has placed so much on the federal government,

Oluwatoyin Marcus, called three witnesses and tendered statements of the victims and defendant, bond for the release of the seized vehicle at the police station and others as exhibits.

staged a peaceful protest at the Governor’s Office in Alausa, Ikeja, against the alleged attempts by the state government to demolish their houses and seize their lands which they claim to have legally acquired and habited for decades. Led by the Executive Director, Human Rights Monitoring Agenda (HURMA), Buna Olitan Isiak, and leaders of the various Community Development Associations (CDAs), they claimed that they have been in undisputed possession of

the said lands for more than 30 years, with over 3,000 families settled in the community. The protesters carried placards with different inscriptions such as: ‘Corruption Must Stop: Stop Encouraging Omonile to Sell Land With Master Plan’; ‘They Are Selling Land Meant for Road on the Master Plan’; ‘We Are Not Under Government of Acquisition’, among others. In two separate petitions submitted to the state Governor, Babajide Sanwo-Olu, and Speaker of the state House of

Assembly, Mudashiru Obasa, the protesters accused some individuals of using their closeness to the corridors of power in the state to ‘terrorise’ law-abiding landlords and residents of Ijegun, Ijedodo, and Ijagemo axis with threats to demolish their houses and confiscate their lands on false pretense that the state government is abandoning the original Master Plan which certified their property as legally acquired and out of the Right of Way (ROW).

WEDNESDAY, ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

Osimhen Back to Training, May Line up against Legia Warsaw

Duro Ikhazuagbe Injured Nigeria and Napoli forward, Victor Osimhen, returned to training yesterday after he was sidelined for the Partenopei’s 1-0 away victory at Serie A bottom team Salernitana. The 22-year-old Super Eagle who has scored nine goals in 12 games across all competitions for Luciano Spalleti’s team this season, copped gastrocnemius contracture in his right calf at Napoli’s last

training session on Saturday and so was ruled out of the clash with Salernitana 24 hours later. “After the success against Salernitana, Napoli resumed training today at the SSC Napoli Konami Training Center,” Napoli announced on the club’s official website sscnapoli.it Although Napoli included Osimhen amongst players that trained Tuesday, there was no mention of whether the Nigerian international will be in the squad

EUROPA LEAGUE to take on Legia Warsaw in Europa League away fixture on Thursday at 6.45pm. “The Azzurri are preparing the match against Legia Warsaw

scheduled for Thursday in Poland for the fourth day of the Europa League (6.45 pm). “The team trained on field 3 starting the session with dry activation and young bull. Subsequently, tactical technical work and strength work.

“Insigne and Ounas spent the entire session with the team. Osimhen did custom work on the pitch. Malcuit did custom work in the gym. Swimming pool for Manolas,” the statement stressed. Meanwhile, only 592 Napoli fans will be allowed at the Warsaw

stadium for the Europa League game against Legia in Poland. “We would like to ask fans to get behind the team (Napoli) while always showing respect for our opponents both inside and outside of the stadium,” the Italian team concluded.

Ziyech Winner Moves Chelsea Closer to Last 16 Berth Reigning champions Chelsea moved closer to the last 16 of the UEFA Champions League with a hard-fought 1-0 win over Malmo in Sweden. After being frustrated in the first half, the Blues went ahead when Hakim Ziyech converted at the back post following an excellent cross from Callum Hudson-Odoi. Thiago Silva nearly grabbed a second but his glancing header was cleared off the line by Anel Ahmedhodzic. It was another masterful defensive display from Thomas Tuchel's side, who denied Malmo a single shot on target. Chelsea have nine points from four matches in Group H, the same total as Juventus, who face Zenit St Petersburg at home late last night. If the Russians lose in Italy then Chelsea would only need a draw at home to Juventus on

CHAMPIONS LEAGUE

Hakim Ziyech...scored Chelsea’s winner in Malmo, Sweden yesterday 23 November to qualify for the last 16 with a game to spare. Elsewhere, Wolfsburg defeated FC Salzburg 2-1 to stand a chance of qualifying from Group G on six points with Salzburg leading on seven points.

Victor Osimhen is back from his calf injury

Chess Masters Ready for Maiden IGP Open FIFA: Blatter, Platini Charged with Fraud in Swiss Court Championship Femi Solaja In continuation of a busy chess calendar since last month, the Nigeria Police Force Sports and Fitness Centre at the Police College in Ikeja, Lagos will from this morning attract a great assemblage of top players and stakeholders when the maiden edition of Inspector General of Police Open Chess Championship gets underway. The five-day cerebral activities are organised by Nigeria Police Chess Association in collaboration with the Nigeria Chess Federation (NCF). Top chess players led by current National Champion, International Master Daniel Anwuli will face a tough challenge from the old order led by International Masters Odion Aikhoje, Bunmi Olape, FIDE Master Bomo Kigigha, Olanrewaju Ajibola, Oluwafemi Balogun, Chukwunonso Oragwu, Akintoye Abdulraheem and many others for the top prizes in the male section. Ahead of today’s opening round of matches in the male and female sections, the Inspector General of Police, Usman Alkali Baba and other top hierarchy in the Police Force have been confirmed to be part of the ceremony this morning. The President of Nigeria Chess Federation DIG Sani Mohammed (rtd), yesterday urged chess players and stakeholders to be orderly all through the competition so that the maiden edition of the event

will ensure a regular fixture in the calendar of the federation for many years to come. “This event to me is a dream come through considering the fact that we have been on it for some years now and it’s a good development, we are indeed glad that the Inspector General of Police who is also a sports loving man has been identified with the cerebral game,” the NCF President remarked last night. Top winner in the male section will take home N250,000 while the second and third will receive N180,000 and N130,000 respectively. In the female section, the best in the category will take home N150,000 while the second best finish will get N80,000 just as the third best will take home N60,000. The seven Round-Swiss event pairing will attract N1.5m cash prizes with 20th placed male and 10th placed female players all guaranteed cash prizes. The championship will be FIDE rated with time control fixed at one and half hours plus 30 seconds per move and registration of players closed yesterday evening at N2,500 per player. The championship no doubt will galvanize chess players ahead of next week’s National Championship to be hosted by Orchid Chess Club, Lekki in Lagos. Since the change of guards at the NCF, players have been busy with tournaments both local and international circuits.

Former FIFA officials Sepp Blatter and Michel Platini have been charged with fraud and other offences in Switzerland. Swiss prosecutors have said Mr Blatter unlawfully arranged a transfer of two million Swiss francs ($2.19m; £1.6m) to Mr Platini in 2011. The Prosecutors said the payment "damaged FIFA’s assets and unlawfully enriched Platini". Mr Blatter and Mr Platini now face trial at a court in Bellinzona. If found guilty of the charges, the pair could receive prison sentences of several years or fines. The case was opened in September 2015 after FIFA, football's world governing body, was dogged by accusations of widespread corruption. FIFA’s ethics committee launched an investigation which saw both men banned from the game and forced to leave their positions.

The affair ended Mr Blatter's 17-year spell in charge of FIFA and Mr Platini's campaign to succeed his former mentor.

A year later Mr Platini was forced to resign as president of UEFA, Europe's football governing body, after losing

an appeal against his ban. Both Mr Blatter, 85, and Mr Platini, 66, have denied any wrongdoing.

Blatter (right) and Platini at a FIFA organised match during the reign of Blatter in-charge of the governing body for the game globally

NFF Disowns Purported UEFA Coaching Course in Ibadan The Nigeria Football Federation (NFF) has warned Nigerian coaches against getting involved in a purported UEFA Coaching Course being advertised by some persons unknown, saying it is a hoax. NFF’s Technical Director, Augustine Eguavoen said on Tuesday: “The attention of the NFF has been drawn to a ‘special

announcement’ in the public space in which some individuals claim they are bringing ‘Dutch Football Instructors’ to deliver lectures at M&N Coaching Courses, starting with a UEFA introductory course that will lead to a UEFA Coaching Course at which UEFA coaching licenses will be awarded. “I want to say without any

ambiguity that the NFF has no hand in this exercise. We have no part in it and we have not sanctioned it to go ahead. Anyone with the intention and capacity to organize coaching courses must seek the go-ahead of the NFF, and the Technical Department would evaluate what they have and what they purport to be able to do, before

we give any go-ahead. As far as we are concerned, these persons advertising a coaching course to take place in Ilaji Hotels and Sports Resort outside Ibadan in December 2021 are not known to us, neither is the programme they claim to be organizing,” NFF warned in a statement yesterday.

WEDNESDAY, ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

Injured Messi out of PSG, Leipzig Clash Argentinian superstar Lionel Messi will miss Paris Saint-Germain's Champions League clash with RB Leipzig tonight due to injury, his club confirmed yesterday. The 34-year-old six-time Ballon d'Or winner has a problem with his left hamstring and a painful knee, PSG said, and will sit out Wednesday's match away to Leipzig. "If you have a player like Messi in your team, you are automatically stronger," replied teammate Georginio Wijnaldum when asked if Messi would be missed. The Argentinian scored two second-half goals as PSG fought back to beat Leipzig 3-2 when the sides met in Paris two weeks ago. "Every game has its own difficulties, we know tomorrow will be tough as Leipzig are a good team. We hope Messi will be back soon," said PSG coach Mauricio Pochettino. Messi went off at halftime in PSG's 2-1 Ligue 1 victory over Lille last Friday and missed training on Monday. Even without the four-time Champions League winner, Leipzig coach Jesse Marsch knows PSG will still present his side with "another difficult task" with Kylian Mbappe poised to return to the visitors' line-up. PSG top their Champions League group with seven points after three matches, a point ahead of last season's beaten finalists

TODAY Man City v C’Brugge RB Leipzig v PSG AC Milan v Porto Liverpool v Atletico Dortmund v Ajax Sporting v Besiktas R’Madrid v Shakhtar

Lionel Messi...left out of PSG’s trip away to RB Leipzig tonight due to hamstring injury

Sheriff v Inter

Spurs Appoints Conte on a Two-year Deal Tottenham Hotspur have appointed former Chelsea and Inter Milan boss Antonio Conte as their new manager until summer 2023. The Premier League club sacked Nuno Espirito Santo on Mondayafter just 17 games, with Spurs eighth in the table. Tottenham said there is "an option to extend" the 52-year-old Conte's deal with them. "I am extremely happy to return to coaching, and to do so at a Premier League club that has the ambition to be a protagonist again," said Conte. The Italian returns to London after winning the Premier League in his first season at Chelsea (2016-17) and the FA Cup in his second before being sacked in 2018. He then led Inter Milan to their first Serie A title in 11 years before leaving the club in May. Conte had been in charge for two years and Inter said it was a mutual decision to end his contract with one year remaining. The former Juventus and Italy coach was then in talks with Tottenham in the summer about becoming Jose Mourinho's successor. But negotiations were haltedbefore Spurs appointed ex-Wolves boss Nuno at the end of June, with the Portuguese boss, 47, lasting just four months. "I can't wait to start working

to convey to the team and the fans the passion, mentality and determination that have always distinguished me, as a player and as a coach," said Conte. "Last summer our union did

not happen because the end of my relationship with Inter was still too recent and emotionally too involved with the end of the season, so I felt that it wasn't yet the right time to return to coaching.

"But the contagious enthusiasm and determination of (Tottenham chairman) Daniel Levy in wanting to entrust me with this task had already hit the mark. "Now that the opportunity has returned, I have chosen to take it with great conviction." Conte's first game will be at home against Dutch side Vitesse Arnhem in the Europa Conference League tomorrow before Spurs play at Everton in the league on Sunday.

CHAMPIONS LEAGUE Manchester City while Leipzig are yet to get off the mark after three defeats. Nevertheless, having taken the lead in Paris two weeks ago, Leipzig are bullish about their chances against a PSG team including Mbappe and Brazil star Neymar. "The game in Paris was important for us, because it showed we can deliver a good performance and understand we can do it away from home," added Marsch. "We totally believe in our chance, if we get three points with a big win then it would give us a lot of momentum." However, a fourth straight defeat in Europe would end Leipzig's last-16 hopes. PSG are also missing influential

midfielder Marco Verratti while Messi may also be a doubt for Saturday's Ligue 1 clash between table-toppers PSG and strugglers Bordeaux.

RESULTS B’Munich D’ Kyiv Atalanta Villarreal Wolfsburg Sevilla Malmo Juventus

5-2 0-1 2-2 2-0 2-1 1-2 0-1 4-2

Benfica Barcelona Man Utd Y’ Boys Salzburg LOSC Lille Chelsea Zenit

Okegbenro’s SMED Initiative Gets Plaudits from Odegbami, Anibeze Dudu-Orumen, Olopade, others set to partner the project The Sports and Media Development Network (SMED), a nongovernmental body initiative put in place to mark the 60th birthday of frontline journalist and media entrepreneur, Gboyega Okegbenro, has received wide support from the sporting world. At breakfast session to inaugurate SMED’s Board of Trustees in Lagos yesterday, Okegbenro who chairs the initiative as well doubles as the Chief Executive Officer of Peachtree Communications, described the NGO as something he conceived as a pay back time to help mentor up and coming journalists. With over 40 years experience as a journalist, Gboye as he’s fondly called, believes those on the board of SMED like exinternational Segun Odegbami, Vanguard on Saturday Editor, Onochie Anibeze, former Ogun State’s Commissioner for Sports, Bukola Olopade amongst others, will open doors of opportunities for youths. “We are going to give athletes and journalists fresh perspectives into their careers,” Okegbenro added. In his remarks, Odegbami said the SMED initiative was a strong idea that will change the life of

many youths in the country. “Okegbenro is full of many ideas and this is another noble one. He told me about NFF News Magazine and I was not excited but he made a success out of the publication. The SMED initiative is a big one with sports and media together while education is also part of this. This is mass appeal and it will be widely embraced fast,” Odegbami said. Also, Anibeze while congratulating Okegbenro on his birthday added that it was time for the media to be at the forefront of sports development in the country. “You can write to shape opinion and also ensure they listen to you. The coaches, managers and athletes themselves must listen when you state your message clearly from a well-informed perspective,” Anibeze said. CEO of Nilayo Sports, Bukola Olopade, advised the staff members and the board of SMED to stay firmly with the organization to make it a big brand. Chairman of Edo State Sports Commission, Barr. Godwin DuduOrumen, in his remarks pledged the support of the state and his academy, Crest Football Academy to help actualise the dream behind the setting up of SMED.

Okocha: I Preach Golfing without Rancour

Antonio Conte ...contracted for two years by Tottenham Hotspur

The Chief Executive of A.C Okocha Motors and President of Concerned Citizens of OgwashiUku in Delta State, Chief A.C Okocha has said that he feels tremendously sad when he sees golfers agonising after a bad round on the golf course. Okocha disclosed in an interview with the Nigeria Golf Networkthat when he sees a golfer sulks after a bad round, he will only ask such golfer to take a second glance at the golf course so he can see how green it is, the many trees and beautiful waters and the clean air he breathes in. ‘’I mean why will anyone feel bad for playing badly?’’ he asks,

feigning disbelief. ‘’I believe golf has an individual nature where you either succeed or fail. But in case you fail, you can still enjoy the serene atmosphere and breathe in absolute clean air’’. This, perhaps, is the main reason Okocha is widely known as the classic golf gentleman. He’s ever soft spoken, always friendly and polite. He even amazes people that he doesn’t show this relentless obsession with the game as numerous golfers do. In fact, if he is upset or angry about something on the course, he is the only one who knows it. ‘’To me, patience is a prerequisite for success in

golf,’’ Okocha said, stressing “As in life, you must clear impediments on the way if you must succeed. Its like this with golf... if you don’t clear impediments on the line of your putt, you may miss the putt. And as a golfer, you must imbibe these two unforgivable sins in golf... that is cheating and quitting,” he emphasised with all seriousness. The erudite business mogul must know what he is talking about. Since he left the Nigerian Air Force in 1983 and moved into motor business, he has since climbed to the summit of the automobile sector as a major player.

Wednesday, November 3, 2021

UT H

& RE A SO

Price: N250

MISSILE LASG to Developers

“It is important to restate that all developers and property owners are required to adhere strictly to all Building Codes and Planning Regulations to ensure the safety of lives and property. Those who ignore such regulations, breaking seals and defying enforcement, will surely be prosecuted” ---Lagos State Information

Commissioner Gbenga Omotoso warning developers and property owners on adherence to regulations following the collapse of a 21-storey building in Ikoyi, Lagos

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Environment as Electoral Issue

t was fitting that the excellent moderators of the Anambra Governorship Election Debate put environment on the table among other issues for the candidates to address. Parts of Anambra state have been ravaged by gully erosion. Roads have been destroyed by the ecological menace which is responsible for some communities becoming inhabitable and inaccessible. Farmlands are shrinking and houses are collapsing in Anambra as in other states of the southeast, nay Nigeria. The problem is relatively more pronounced in the state than some others. The ARISE NEWS duo of Reuben Abati and Ngozi Alaegbu justifiably allocated some time for the candidates who featured in the debate to enunciate their plans to combat erosion in state. The three candidates – Andy Uba of the All Progressives Congress (APC), Charles Chukwuma Soludo of the All Progressives Grand Alliance (APGA) and the Valentine Ozigbo of the Peoples Democratic Party (PDP) – were in agreement in acknowledging the reality of erosion as an environmental challenge, although they differed in terms of the depth of perspectives on how to the problem. The example of what happened in the Anambra debate should be emulated in other state and national elections: environment should henceforth be a central issue of politics. Elections should be fought on the basis of party manifestoes on the environment among other issues. And that would be a rational step to take by political parties and their candidates for executive and legislative positions. In future governorship elections in other states, it would be helpful if candidates could tell the electorate their proposed policies to solve the problems of desertification, flooding and sanitation. As a matter of fact, all the candidates for the governorship election ought to state their policies on environment clearly while demonstrating how to fund the projects that should be implemented to achieve the policy objectives. In other words, environment should be squarely put at the heart of governance. Doing so would simply mean being alert to the global trend in which damage to the environment has become an enormous risk the world. Oxford Philosopher Toby Ord rigorously argues this point in his recent book, The Precipice: Existential Risk and the Future of Humanity. According to Ord, existential risks are “just as real and urgent (as the present suffering of the poor), yet even more neglected.” The author posits optimistically that while environmental damage is one of those risks with “higher probability” of materialising, with the right policy choices humanity “can pull back from the precipice and, in time, create a future of astonishing value - with a richness of which we can barely dream, made possible by innovations we are yet to conceive.” National and subnational governments should be conscious of how this primacy of environment should shape socio-economic policies. After all, the human habitat has to be secure first before any development plan could be executed in a sustainable way. Now, the damage to the environment is not only a scientific problem, it is also a huge geo-political issue. And the politics of the environment could indeed be a tricky one. As an electoral issue, perspectives are bound to vary in formulating solutions to the problem. Yet in order to formulate the solutions that

Buhari could be effective a certain degree of consensus is needed. This is because regardless of the political, ideological and regional divides all the societal forces should collaborate to achieve results in environment policies. This is partly what is playing out at the current global negotiations and discussions taking place at the 26th United Nations Climate Change Conference (COP26) in Glasgow, United Kingdom. At the take-off of the all-important conference, a team of scientists from the China, Europe and the United States released a report stating that by 2070 unless global warming is curbed 3 billion of the projected 9 billion world population would suffer from temperatures as high as what obtains in the hottest of the Sahara today. It is projected that about 19% of the planet would be affected by this extreme climate. The scientists could also foresee the possibility of migration of people in large numbers from the heat. Adaptability on the part of the people is also predicted In the scenario-building, it has been predicted that by the middle of this century, Africa would double its population to 2.4 billion. And with a projected population of about 477 million, Nigeria would be the third largest nation displacing the United States. It is also projected that with a population of 61.5m Lagos would be the largest city in the world in 2075. The scenario poses a huge challenge for those responsible for development plans and policies to execute the strategy for the future. In the scenario, the “Shared Socio-Economic Pathway (SSP)” sketched for Nigeria is far from being cheery. The forecast is that of “business as usual, in which social, economic and technological trends do not shift markedly from historical patterns.” The undertone of Afropessimism in the foregoing scenario-building is, of course, unmistakeable. It is, therefore, the task of governments at all levels to ensure that these scenarios do not play out eventually. It is a

sacred duty those in charge of policies owed the future generations. After all, by the same projection Africa still has an opportunity of about five decades to reverse the trends using the instrumentality of consistent policies of pro-people and sustainable development. The address of President Muhammadu to COP26 should be viewed in the context of the above trends and scenario. In the spirit of the Climate Paris Agreement, the United Nations has set 2050 as the target for the net-zero carbon emission. But Buhari reportedly told other world leaders yesterday that Nigeria’s target for zero carbon emission would be 2060. By the way, India, the third largest polluter in the world, has a target of 2070! Buhari’s statement is hinged on a balance of national economic development and a clean global environment. The President said inter alia: “For Nigeria, climate change is not about the perils of tomorrow but about what is happening today. In our lifetime, nature has gone from a vast expanse of biodiversity to a shadow of itself. “We are investing in renewables, hydro-dams and solar projects. Nigeria is not looking to make the same mistakes that are being repeated for decades by others. We are looking for partners in innovation, technology and finance to make cleaner and more efficient use of all available resources to help make for a more stable transition in energy markets. “The revised Nationally Determined Contributions (NDC) has additional priority sectors. Water and waste, nature-based solutions, adaptions and resilience, vulnerability assessment and a clean cooking gender and green jobs assessment. “Nigeria has developed a detailed energy transition plan and roadmap based on data and evidence. This plan has highlighted some key facts that face the difficult conversations. Our transition plan also highlights the key role that gas must play in transitioning our economy across sectors. “The data and evidence show that Nigeria can continue to use gas until 2040 without distracting from the goals of the Paris Agreement. Earlier at a side event Buhari has expressed the optimism that Nigeria would give regional leadership in developing the “Great Green Wall.” The continental ambition really is the restoration of the 100 million hectares of degraded landscape which could be useful for agriculture. In a way, the defence of the environment is also a fight for food security in Africa. The President

“The damage to the environment is not only a scientiﬁc problem, it is also a huge geo-political issue. And the politics of the environment could indeed be a tricky one”

reiterated the commitment given at the One Planet Biodiversity held in Paris in January. The tone and tenor of Buhari’s speech reaffirm the point that the environmental challenge facing different countries of the people would ultimately be resolved by geo-political negotiations. Unilateral steps and unbridled contestation for advantage would not bring solutions. To the rest of the world, perhaps the most absurd action of former United States president, Donald Trump, was the unilateral withdrawal of his country from the Climate Agreement reached among nations of the world in Paris in December 2014. Trump’s successor, Joe Biden, is doing the right by reversing the irrational policy steps of Trump. Biden made the American return to the Paris agreement an electoral issue in the 2019 presidential election campaign. It would be recalled that Trump also made the irresponsible withdrawal from the agreement part of his incoherent campaign in 2015. In the process, Trump even had some harsh words for Greta Thunberg, the exceptionally courageous young Swedish girl who is a symbol of her generation’s sustained campaign against climate change. If environment is an issue of geo-political negotiations internationally, it should also be an electoral issue locally. The purpose is clear. Apart from mobilising the people in the process of solving environmental problems, the government would be confident to push its position in the international arena as President Buhari has just done in the COP26. When a government is elected it would be presumed that its mandate is inclusive the policy on environment. In some western democracies environment has long been placed at the centre of politics. Environment often comes up as major issue of elections in some climes. Hence, Green Parties have won parliamentary seats and in some places parties focussing on the environment have joined coalitions to form governments. The global green movement has been resilient in defence of the environment. Some politicians are identified with the cause of the environment in their career. For instance, former American Vice President Al Gore is known to be passionate in promoting environment-friendly policies. In real terms, environmentalism has been somewhat on the margin of Nigerian politics (in both military and civil dispensations). From campaigns in the late 1980s led by Ken SaroWiwa and other environment-conscious Niger Delta activists and some organisations brought the destruction of the oil-rich region to global attention. The judicial murder of the Ogoni 9 by the Abacha regime following the brutal killing of the Ogoni 4 further drew the world attention to the environmental problems of the Niger Delta region. Before the agitation from the Niger Delta, environment hit the headlines only when allegations of diversion of the statutory ecological funds were made against some state governors. The funds are meant to solve the problem of the environment in Nigeria manifesting as desertification, erosion, ocean surge, flooding, pollution, lack of sanitation etc. Definite policy positions on the issues should no longer be treated as footnotes in policy-making and implementation. All told, the lesson from the international politics playing out at COP26 in Glasgow is that the environment should be made one of the central issues of domestic politics and policy.

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