THURSDAY 4TH NOVEMBER 2021 by THISDAY Newspapers Ltd

ARISEFashionWeekHeadstoDubaiWorldExpo Vanessa Obioha and Dike Onwuamaeze Africa’s most dominant and dazzling runway platform, Arise Fashion Week, is heading to Dubai in December. Specifically, the event is slated for December 3, 2021. In collaboration with the

Nigerian Pavilion at Expo2020 Dubai and the Federal Ministry of Industry Trade and Investment, the platform would be showcasing the best of African fashion designers and music at the expo in Dubai. According to a statement yesterday by Line Producer and Marketing Lead, AFW, Sanika

Reneye, for the Expo2020 Dubai, Lisa Folawiyo, Ituen Basi, Banke Kuku, Onalaja, Tjwho, Lagos Space Programme, Huddaya, would be among the fashion designers that would have their collections on the runway. Also, Grammy-award winning singer Wizkid would be providing musical entertainment and

long-term partner of Arise Fashion Week, Naomi Campbell would be making an appearance alongside other global celebrities. Since its return, Arise Fashion Week has been at the forefront of promoting and celebrating the next generation of African fashion designers. Last year, the award which

was televised on Arise News and streamed on Arise Play showcased 30 designers who were picked from a pool of 150. It was the first time the platform attached a monetary reward to the runway. Kenneth Ize emerged the overall winner, walking away with $100,000 cash prize while runners-up Ré Lagos and South

African Mmuso Maxwell received $75,000 and $50,000 respectively. In 2020, beyond the glitz and blitz that naturally typify the annual event, it attracted young design talents from Africa and beyond. Leading the charge last year was United States Artistic Continued on page 12

Massive Cordon in Abuja over Security Threat... Page 49 Thursday 4 November, 2021 Vol 26. No 9705. Price: N250

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Building Collapse: Sanwo-Olu Sets Up Six-man Probe Panel as Death Toll Rises

Appoints town planners’ president as chairman, team gets 30 days to submit report Femi Osibona, owner of building, friend, Wale Bob-Oseni, still unaccounted for

Segun James The six-man independent investiga-

tion team set up by Lagos State Governor, Mr. Babajide Sanwo-Olu, to probe the remote and immediate

causes of the collapse of a 21-storey building in Ikoyi has 30 days to submit its report. Sanwo-Olu

disclosed this yesterday as he named members of the probe panel at the site of the incident.

However, it was all tears yesterday as the body of Nifemi, the personal assistant to Femi Osibona,

the owner of the building, which Continued on page 48

INEC: We’ll Ensure Only Eligible Voters Determine Next Anambra Governor Vows to prosecute election offenders IG issues stern warning, says heavy deployment to protect all IPAC demands fairness, transparency from commission, security operatives US threatens visa restriction on violence instigators Obaigbena thanks CDS, Police Chief, DG SSS for providing robust security during ARISE News debate

Chuks Okocha, Onyebuchi Ezigbo in Abuja and David-Chyddy Eleke in Awka As the Independent National Electoral Commission (INEC) moves both personnel and materials to Anambra State in readiness for the governorship election yesterday, INEC Chairman, Professor Mahmoud Yakubu, has said the commission would do everything in its powers to ensure only eligible voters determine the next governor of the South-east state. Yakubu stated this on Wednesday in Awka during a pre-election stakeholders meeting with the political parties, religious leaders, traditional rulers, and civil society groups. But the commission was quick to add, "We are also determined to prosecute perpetrators of electoral malpractice, including any election duty staff found to be complicit. Continued on page 48

SANWO-OLU BRIEFS MEDIA ON IKOYI BUILDING COLLAPSE...

L-R: Lagos Commissioner for Physical Planning & Urban Development, Dr. Idris Salako; Permanent Secretary, Lagos Ministry of Health, Dr. Olusegun Ogboye; Governor Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat and Commissioner for Special Duties & Inter-Government Relations, Engr. Tayo BamgboseMartins, during the Governor’s media brieﬁng at the site of the Ikoyi building collapse ... yesterday

Insecurity: Nigeria Has Never Had It This Bad, Says Afenifere... Page 49

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

NEWS

PUTTING HEADS TOGETHER AT FEC... L–R: Minister of State for Education, Chukwuemeka Nwajuiba; Attorney General of the Federation and Minister of Justice, Abubakar Malami; Secretary to the Government of the Federation, Mr. Boss Mustapha; Chief of Staﬀ to the President, Prof. PHOTO: GODWIN OMOIGUI Ibrahim Gambari and the Minister of State for Finance, Budget and National Planning, Clement Agba, at the Federal Executive Council (FEC) meeting held at the Presidential Villa, Abuja...yesterday

Upstream Commission Seeks to Tackle Bureaucracies Causing High Oil Production Cost Rallies IOCs to embark on major oil, gas devt projects OPTS seeks commission's support to address operational challenges Promotes 195 staff Emmanuel Addeh in Abuja and Peter Uzoho in Lagos In continuation of his ongoing engagements with critical stakeholders in the Nigerian oil and gas industry, the Chief Executive Officer of the Nigerian Upstream Regulatory Commission (NURC), Mr. Gbenga Komolafe, yesterday met with oil majors operating in the country on the aegis of Oil Producers Trade Section (OPTS). At the meeting held in Lagos at the commission's oil and gas excellence centre, Komolafe, while responding to concerns raised by the operators, assured that the commission would work towards removing all forms of bureaucracies that could escalate high cost of oil production in the country. Members of OPTS who attended the meeting were their Chairman and Managing Director of Chevron Nigeria Limited, Mr. Rick Kennedy; immediate-past OPTS Chairman and Managing Director of TotalEnergies EP Nigeria Limited, Mr. Mike Sangster; and Managing Director of Shell Petroleum Development Company (SPDC) Nigeria Limited, Mr. Osagie Okunbo. Others were Managing Directors of ExxonMibil Nigeria Limited; Mr. Richard Laing; and his counterpart at Nigerian Agip Oil Company (NAOC), Mr. Roberto Daniele. The OPTS had in the session, listed some of their concerns that needed to be looked into by the commission as security, lengthy contract cycle terms, administrative complexities, the timelines in certain areas in the PIA, and the uncertainty on some issues, like the Production Sharing Contracts (PSC) that are renegotiated. Komolafe said the overriding objective of the meeting was to enable him familiarise himself with the oil producers as critical stakeholders, adding that he wanted to hear their challenges while seeking their partnership in the implementation of the Petroleum Industry Act (PIA). He said as a business enabler, the upstream commission would operate and regulate with best industry practices and would

continue to remain very transparent. According to him, "We will try as much as possible to remove all forms of bureaucracies that could escalate cost of production in the upstream." He told the international oil companies’ (IOCs) chief executives that the implementation of the PIA was germane to President Muhammadu Buhari, saying the task before the commission was to see critical deliverables from the Act within 12 months. He urged the OPTS to support the commission in ensuring that key upstream development projects were started. Komolafe said, "As a matter of fact, the task for us is to see how, within the next six to 12 months, to begin to see critical deliverables from the Petroleum Industry Act -I mean, development of key upstream projects. And we really need your support as critical stakeholders in this respect." Noting that he was aware of the challenges facing them in the course of their activities in the upstream, Komolafe, who admitted that the industry, generally, was facing a critical period especially in this energy transition era, added that they were monitoring critically, the discussions in Glasgow, Scotland, on climate change. He said, "We realise that the outcome is really posing challenges to which we need to address. We understand that at the moment, the upstream business is facing critical funding challenge, among other challenges that are very particular to our terrain. "So, my overriding key objective here today like I said, is to first and foremost, familiarise myself with you, realising that for us to be efficient regulator, we really need to be able to identify with your activities and know your challenges. At least, with that, we will be able to regulate objectively. "I'm using this opportunity to give credence to you as our critical operators. So, I want to solicit your cooperation and to assure you that we shall work as partners, we will work in synergy in a manner that we would be able

to achieve the overall intendment of the Petroleum Industry Act, in a manner that would achieve optimal benefit to the Nigerian federation from our God-given hydrocarbon resources." The Head, Legal, NURC, Dr. Tolorunse Joseph, while reacting to the issues raised by the operators regarding compliance to the PIA transition timeline, said the regulator was working with the PIA implementation committee to ensure that the timelines were met and the transition taken place smoothly without any hiccup. On the conversion of oil mining lease (OML) to oil prospecting license (OPL), Joseph explained that even though it was provided that that should happen with 18 months, the decision to convert remained the decision of the operator. "Flexibility is provided under the law in which the decision to convert is left for the operator. It's not a compulsion. So, the timeline, even though it's stipulated to be within 18 months, it's at the discretion of

the operator. "So, there are many timelines stipulated for certain activities in the law, like the Host Community that says within one year, they should incorporate the Host Community Development Fund," he said. On the issue around the ongoing renegotiated Production Sharing Contract (PSC) and how the PIA applies to it, Joseph explained: "You also raised the issue of Deep-water renegotiated PSC. I think the Deep-water Renegotiated PSC that have taken place before the Act was passed, also will continue under the old regime unless it is converted to the new regime as provided under the Act. "So, the Renegotiated PSC is a contractual arrangement. Definitely, it's going to be given effect within the law. It's going to remain substantially the same, unless you convert it to the new law." Also, the Head, National Data Repository, NURC, Mr. Indabawa Bashari, responding to the issue about the compliance to the gas flare

out deadline, said 2030 remained the compliance deadline as fixed by to United Nations. He urged the operators to working towards complying before the 2030 deadline. "One of the issues raised is on gas flare elimination. We still maintain the 2030 deadline set by the United Nations. So, we expect every company to work toward achieving that deadline. From now till 2030, we have nine years. You should work towards achieving flare out before the deadline", Bashari said. Speaking on behalf of OPTS, Sangster, listed some of their concerns that needed to be looked into by the commission as security, lengthy contract cycle terms, administrative complexities, the timelines in certain areas in the PIA, and the uncertainty on some issues, like the Production Sharing Contracts (PSCs) that are being renegotiated and how the PIA affects them. He said OPTS had been looking

deeply into the PIA and had identified a number of opportunities for collaboration and partnership with the commission. He added, "One, is really on transition timeline, to be in compliance with the terms with the PIA. There is a number of compliance and mandatory items that the industry really has to get in place very quickly. And so, we look to collaborate with you and your team on those areas, hoping we can manage that effectively. "A couple of examples in that area is incorporation of the Development Trust with the host communities, and it requires some alignment with multiple stakeholders. So, we have to manage that transition very effectively." Sangster said the OPTS had gone through the PIA and identified potential ambiguities on areas where they were not quite clear on the intent of the law. Story continues in the online edition on www.thisdayliive.com

Marwa Explains Why Bringing Down Drug Cartels is Difficult Says remuneration of 5,000 recruited personnel not captured in 2022 budget Adedayo Akinwale in Abuja The Chairman of the National Drug Law Enforcement Agency (NDLEA), Brig-Gen. Buba Marwa (rtd) has lamented that it had been difficult to bring down drug cartels over the years because the top leadership was insulated through several layers. The Chairman disclosed this yesterday in Abuja, when he appeared before the House of Representatives Committee on NDLEA to defend the agency's budget. Marwa said: "As we all know, the cartel organisations where the top leadership is insulated through several layers, it takes a lot of movement, investigation, intelligence to pin them down.” Marwa explained that the agency engaged in a lot of training, manpower development,

information and intelligence, maintenance of vehicles, plant and machinery, local and international travels, deployments, and postings surveillance, and cannabis cultivation, trafficking and abuse and the destruction of cannabis plantations, among others. Marwa went cap-in-hand lamenting before the committee over inadequate funding of the agency. It was at this point a member of the committee, Hon. Mohammed Biu, recalled when he visited the agency a couple of months ago, some of the furniture there were obsolete, while some required complete maintenance, some needed to be changed outrightly. Responding, Marwa explained that when he assumed office as the Chairman of the agency, he had to buy the television and the furniture in his office with

his money. He added: "Thank you very much indeed for this passionate recognition of what we have. When I took over the agency, I bought my own television, in the office and the furniture." Marwa, however, presented the total budget of N38, 152, 280,51, with personnel cost of N10.49 billion; overhead cost - N998. 73 million and capital cost - N26.662 billion. He pointed out that the remuneration for the 5,000 newly recruited personnel was not captured in the 2022 proposed budget, but assured that it would be captured in the service-wide vote. Marwa said at the moment, the agency has 10,000 personnel strength, but the 5,000 recently recruited would raise it to 15,000 next year. He stressed the need for the

construction of barracks for the safety of his personnel. According to him, "As we go after the drug barons and the cartels, my men and their families don't have security because they still go back to the town where they live among them (barons and cartels) and we've had cases of assassinations, burning of our businesses, homes and severe injuries and attacks and so on." Marwa said the President and Minister of Justice have shown support for the project, saying the barracks would be built in the six geo-political zones of the country. The committee however refused to review the 2021 budget of the agency as it is often done, before asking the ministry to present the 2022 proposed budget. The committee also assured that the budget of the agency would be increased.

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NEWS

MIGRATION AND DIASPORA ISSUES... L-R: Edo State Governor, Godwin Obaseki; Director General, Nigerians in Diaspora Commission (NIDCOM), Abike Dabiri; World Bank Country Director, Nigeria, Mr. Shubham Chaudhuri and Senior Technical Assistant to the PHOTO: ENOCK REUBEN president on economic matters, Akin Soetan, during a meeting on ﬁndings from recent World Bank report on labour migration and diaspora for development in Nigeria in Abuja ...yesterday

NEF: Why We Support Designating Bandits as Terrorists Urges northerners to vote for new, competent govt in 2023 Says IPOB's plan to frustrate Anambra guber must be resisted Adedayo Akinwale in Abuja The Northern Elders Forum (NEF) has said it supports the call by a lot of Nigerians that the federal government should designate the bandits ravaging the northern part of the country as terrorists. This, it anticipated could help improve the capacity of the federal government to address the expanding scourge. The Forum made it position known in a statement by its Director of Publicity and Advocacy, Dr. Hakeem Baba-Ahmed yesterday, where it also called on Northerners to register and prepare to vote for new, competent and honest leaders in the 2023 elections. It stated: "The Forum regrets that arguments over labelling bandits as terrorists wastes attention and energy. If labeling bandits as terrorists will substantially improve the capacity of the Nigerian state to eliminate this expanding scourge, the Forum supports it without reservation." The Forum stressed that all lawful options in bringing this menace to an end must be pursued. Furthermore, it stressed that measures put in place to contain the spread of banditry should be diligently monitored and evaluated, while those that merely worsen the condition of living of the law-abiding population should be removed. It stressed that governments should be sensitive to the possibility of severe food shortage in the next few months

in many northern communities, in addition to escalating cost of living which it noted could combine to confront the poor with intolerable conditions of living. The Forum lamented that Boko Haram insurgency continues to be a major threat in the north-east, while kidnapping and large scale banditry in many other parts of the north were taking over lives of large portions of the population. The NEF said politicians and influential persons were worsening the nation’s fault lines by the manner they seek political advantages through the exploitation of threats to the country's unity and peaceful co-existence. It noted that poverty and poor governance were fueling widespread alienation from mainstream social existence. It stated: "The Forum notes that opportunities exist for Nigerians to register to vote in the 2023 elections. Apathy, anger and frustrations arising from failure of elected leaders to improve lives of citizens and insecurity are keeping many Nigerians from their rights and obligations to register and vote. "The Forum urges especially Northerners to register and prepare to vote for new and more competent and honest leaders in the 2023 elections." It further expressed concern that Maiduguri, Borno State capital, has been without power from the national grid for 10 months, saying it was alarmed by signs that its population could be forced to resign to living

with this additional assault on their lives and livelihood. It advised that the situation should be reversed at all costs. The group advised that the planned closure of Internally-Dispersed Persons (IDP) camps should be carefully considered so that it does not place more victims in avoidable peril. It further lamented that the Indigenous People of Biafra (IPOB) was threatening to eradicate the influence of legitimate authority in the south-east. The NEF insisted that activities of IPOB represent an unacceptable threat to security and rights of fellow Nigerians in states of the south-east region, and the country as a whole.

It noted that the activities of the outlawed group was causing damage to the economy of the south-east. NEF stated: "IPOB’s plans to frustrate the governorship election in Anambra State this weekend must be resisted." The Forum said the on-going trial of its leader should proceed in accordance with the laws of the land. It warned that elites from the region who demand that he should be accorded special treatment in return for peace should know that they are merely inviting more threats on the people they should help to protect. The Forum notes that the nation was coming to terms with a major requirement of the democratic process,

which is the right of all citizens to freely participate in all political activities. It stressed further that it was now an accepted wisdom that every Nigerian could contest for any office to which he/she is qualified, and voters would choose their next leaders in credible elections. According to the NEF, the people of the north wants to work with other Nigerians to produce a competent and committed Nigerian leadership that would restore confidence in the country’s capacity to survive and rebuild itself for the next generations. It said while the Peoples Democratic Party (PDP) and the All Progressives Congress (APC)

Gbajabiamila to EU: Our Goal is to Make Electoral Law Perfect Adedayo Akinwale in Abuja The Speaker of the House of Representatives, Hon. Femi Gbajabiamila, has assured that the ninth House was committed to make the Electoral Act perfect and acceptable to the majority of Nigerians. The Speaker, in a statement issued yesterday by his Special Adviser on Media and Publicity, Mr. Lanre Lasisi gave the assurance when he hosted a team of the European Union (EU) delegation in Nigeria led by the Head of Mission, Ambassador Samuela Isopi. Gbajabiamila said though no

country had a perfect electoral system, the National Assembly was making serious efforts to make Nigeria's electoral law to be in tune with the country's peculiarities. He said, "You talked about the much talked about Electoral Act amendment. For you to have a good democracy, you need to have a good electoral law. Our electoral law is not perfect, just like your own is not perfect. "But our goal is to make it perfect. That's why in the 9th Assembly, we try to see that we make our Electoral Act to be perfect. We took our time to be thorough without sacrificing anything.

The Speaker said the Electoral Act (amendment) Bill was passed early enough by the National Assembly and would be transmitted to the president for his assent soon. Gbajabiamila added: "Today, we're at the threshold of history. We want to have an Electoral Act that is acceptable to the majority of Nigerians. We want an Electoral Act that does not compromise the sovereignty of Nigeria. That's key to us. Nigeria is a very plural society in terms of religion and ethnicity. These are some of the considerations we have to make." Speaking on the issue of gender participation in politics, the Speaker

ICPC Charges African Leaders to Step Up Fight against Terrorism Financing, Others Alex Enumah in Abuja The Chairman of the Independent Corrupt Practices and other related offences Commission (ICPC) Prof. Bolaji Owasanoye, has called on leaders of the Economic Community of West African States (ECOWAS) to fashion out and pursue robust Anti-Money Laundering (AML) / Combating Financing of Terrorism policy in the fight against corruption and other violent crimes pervading the region. Owasanoye while stating that corruption remained a daunting and existential challenge for many West African countries especially Nigeria, lamented that illicit financial flow, as well as illegal trade in pangolins, elephant tusks and other wildlife were estimated at have cost the region billions of dollars. The ICPC boss stated this in his keynote address delivered at the Inter-Governmental Action Group

against Money Laundering in West Africa (GIABA) annual public lecture series which held at Abuja. He said, "It is difficult to divorce the ranging violent crimes in Zamfara State of Nigeria from the illegal gold mining by Nigerians and collaborators from the West African region and beyond which had gone on for years unabated. "In 2016, the IMF estimated the annual global cost of bribery alone at $2 trillion, which is roughly two per cent of global Gross Domestic Product (GDP)." Owasanoye pointed out that the above figure did not include cost of other forms of corruption and illegal trade in pangolins, elephant tusks and other wildlife. While stating that money laundering provides the means to make illicit money seem licit, he said only a robust AML/CTF could help fight corruption, terrorism/ terrorist financing, arms trafficking,

dominate the political landscape, Nigerians would benefit from additional options, both to improve competition and to broaden the leadership selection process. It therefore said it was looking forward to the emergence and consolidation of other parties in the political environment. The Forum said the continued existence of state electoral commissions which conduct elections into local government councils was severely damaging the democratic process. The Forum advised that the ongoing constitutional amendments should include the scrapping of these commissions and the assumption of their duties by INEC.

cross-border trafficking of hard currency to influence elections, among others. "West Africa needs to pursue a multi-track strategy to surmount the daunting challenges posed by economic and financial crimes. The fortune of generations unborn relies on the actions that we take today," he said. Some of the actions according to him included strengthening democratic institutions for the emergence of credible, legitimate people focused governments across the region, promoting complementary selfless visionary leadership focused on the future of Africa not as rhetoric but with action, strengthening regional cooperation amongst others. In his opening remarks Director General of GIABA, Justice Kimelabalou Aba, said money laundering and terrorist financing constitute major obstacles to human development and present significant

obstacles to equal economic and social opportunities, especially for honest and hard-working people. "In many other countries, these crimes have adversely impacted national security and development in Nigeria, including the erosion of hard-earned reputation for individuals, corporate organisations, and even countries. "While investors take calculated risks, they try to avoid investing in countries classified as high risks for money laundering and terrorist financing." While stating that the event provided another golden opportunity for GIABA to strengthen collaboration with the academia in their commonly shared responsibility of tackling the twin problems of money laundering and terrorist financing (ML/TF) in Nigeria and the West Africa region. He said, "It is imperative for GIABA and all stakeholders,

including academia, to deepen our collaboration to effectively counter these criminals - we need a network of good people to counter the network of evil people. Criminals may be smart, but they often end up outsmarting themselves. "In GIABA, we consider the school system as a critical stakeholder in this endeavor. Educational institutions such as yours are the orchards that nurture the future human fruits of a nation - many good and bad people in society today pass through the school system, and the system would have influenced both. "As the foremost socialising institution in the society after the family, the school system should do more to deliver future good leaders for the society - leaders than can be trusted to deliver development and good governance for their people and not under development and misery."

said gender inclusion was one of the priority of the ninth House, hence, it's inclusion in the legislative agenda. Gbajabiamila noted, "We also try not to discriminate against men. In doing that, one of the innovations is to amend the constitution to create an extra senatorial zone exclusively for women." Addressing the issue of Sexual and Gender-Based Violence (SGBV), he said the House did a lot in that regard. According to him, “we dedicated a day of sitting to that sometime in the past. We're still working proactively to make sure that SGBV laws are domesticated in the states.” Earlier, Isopi said the visit was to introduce herself as the new head of mission of EU in Nigeria. She reiterated EU's commitment to continue strengthening its partnership with Nigeria, National Assembly and the House, and to formally announce the coming of a special mission later this month. Isopi noted: "We have closely followed the developments here, and I'll like to applaud the approach that the National Assembly has taken in the electoral amendment. We'll continue to support democratic governance and institutions in Nigeria." She said since 1999, the union had been a major partner and supporter of Nigeria's democracy, especially in the area of supporting the National Assembly on electoral matters, women and the youth. She stated that the issue of SGBV remained a priority to the EU and Nigeria, stressing that they would count on Gbajabiamila's support to engage the speakers of state Houses of Assembly on the SBGV and the Child Rights Act.

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NEWS

INEC STAKEHOLDERS' MEETING IN ANAMBRA... L-R: Co- convener of the National Peace Committee/Catholic Bishop of Sokoto Diocese, Most Rev. Bishop Matthew Hassan Kukah; Inspector General of Police, Baba Alkali; INEC Chairman, Prof. Mahmood Yakubu; National Commissioner, Festus Okoye and the Resident Electoral Commissioner for Anambra State, Dr Nkwachukwu Orji, during a stakeholders’ meeting ahead of the Anambra state governorship election at Awka...yesterday

Fashola: Enough of New Roads, Other Projects FG to spend N7trn on 854 highways in 2022 budget Udora Orizu in Abuja The Minister of Works and Housing, Babatunde Fashola, yesterday cautioned against starting new roads and other projects, until progress is made with the ongoing projects. This was as he disclosed that the federal government is currently undertaking a total of 854 highway contracts of over N7 trillion. Fashola who said these when he appeared before the House of Representatives Committee on Works to defend the ministry's 2022 budget proposal, said the major challenge to the ministry’s efforts towards the timely completion of projects was insufficient budgetary provision and releases for projects to sustain annual cash-flow requirement levels. He, therefore, appealed that limited resources should be concentrated on the completion of ongoing projects, saying all can't be done with one budget cycle. Fashola said, "We appropriate for a token amount for a project of certain quantum, now once the award is done, the question of financing becomes a challenge. With the inflation and everything, there must come a time and I think that time is now; Mr. Chairman and honourable members, enough of new roads and new projects. "Let us concentrate our limited resources to complete or progress some of what we have started; in finding the solution. I will be happy, there are a couple of roads in Osun State and we cannot finish all of them in one budget circle. “If the parliamentarians from each state can come together and say, this is on priority project for us and decide that let us move our zonal intervention project and say this is what we want to achieve;

it is an honest conversation we must have." Presenting the ministry's N450 billion 2022 budget proposal, Fashola said from the total amount, N382 billion was for capital expenditure; N627 billion was for overhead and N10 billion was for personnel cost. He said the focus of the 2022 budget was on completion of some priority road projects, especially those on route A1-A9, which leads to the ports and major agricultural hubs attracting vehicles carrying heavy goods in the zones. He also said that the federal government was undertaking a total of 854 highway contracts at a total contract sum of N7,430,336,544,574.86. He explained that the projects were expected to be financed through the Presidential Infrastructure Fund, Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, the Sovereign Sukuk Fund, Multilateral Loans among others While assuring that the ongoing works on the second Niger bridge in the south-east would be completed in 2022, the Minister solicited for improved funding of road development from annual budgetary provisions in order to aid the completion of other critical on-going projects. He added: "The Ministry is currently undertaking a total of 854 highway contracts at a total contract sum of N7,430,336,544,574.86 spread over the six geo-political zones in the country. These are roads and bridges that lead to ports and major agricultural hubs and carry heavy goods vehicles across the six geo-political zones. “In view of the wide disparity between the actual 2022 indicative

ARISE FASHION WEEK HEADS TO DUBAI WORLD EXPO Director and Global Content Adviser of Conde Nast, popularly known as the Editor-in-Chief of American Vogue, Dame Anna Wintour, who connected with the event virtually. Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, who graced the occasion in 2020, had acknowledged the potential of the Nigerian fashion industry during his speech. Emefiele had reiterated the commitment of the central bank and the Bankers Committee to

growing the fashion industry, stating that, “We are fully aware that the fashion industry in Nigeria can provide a positive and beneficial growth path for young Nigerians, who seek to utilise their talents in creating products and services that offer value at home. And indeed, abroad. “We will continue to ensure that these skills are harnessed to support the growth of the Nigerian economy, and also support the growth, the businesses of the Nigerian youth entrepreneurs.”

cost of execution of highway projects of N1,384,622,535,379.62 and the actual budget envelope of N282,636,433,510.69 the prioritisation of funding in the 2022 budget becomes imperative in order to make an appreciable impact. “Secondly, the Ministry has identified some strategic road projects that have already attained some appreciable percentage completion and slated them for completion within the period 2021-2023." Reviewing the ministry's N347 billion 2021 budget performance, Fashola said the ministry had

incurred more liabilities as it owes contractors the sum of N420 billion. According to him, out of the total amount outstanding for payment to contractors for duly certified and approved works as at 20th October, 2021, was the sum of N420,583,705,963.48. He explained that out of the total amount allocated to the ministry for capital expenditure, N182.97 billion had been released. He further explained that of the amount released, N114 billion was allocated to the works sector while the housing sector got N68 billion.

Owes contractors N420bn On revenue, the Minister disclosed that the ministry generated the sum of N837,399,022.33 from January to August, 2021, adding that all the revenue realised have been remitted to the Consolidated Revenue Account. Speaking further, Fashola bemoaned the issue of overloading trucks by operators who ply bad roads. The Minister while lamenting that some truck operators are doing that at the expense of others, called on the government and citizens to rise up as a nation to put an

end to it. Earlier in his remarks, the Chairman of the Committee, Hon. Kabiru Abubakar said to overcome the problems of grossly insufficient budgetary provisions which has been the bane of infrastructural development, there was need to be creative in sourcing funds. Abubakar called on the Ministry and the Agencies to come up with creative and innovative ways to generate income and not to entirely depend on budgetary allocation from the Federal Government.

NEP: Nigeria's Drive for Renewables Gets Boost as Firm Targets 500 Mini-grids After decades of darkness, six north-central communities get electricity Emmanuel Addeh in Abuja Nigeria’s drive towards renewable energy got a boost yesterday as Husk Power Systems, one of the rural clean energy services leaders in Africa and Asia has launched its first six solar hybrid mini-grids in Nasarawa State. This was the first time the scale of solar power generation would be rolled out at one time under the Nigerian Electrification Project (NEP), an initiative funded by the World Bank and the African Development Bank and implemented by the Rural Electrification Agency (REA). The company forecasts a fleet of more than 100 mini-grids in Nigeria within the next 24 months, growing to 500 mini-grids by 2026 and has plans to expand to several other Nigeria states before the end of 2023. In Nasarawa, the newly launched mini-grids would provide clean, reliable and affordable electricity to about 5,000 households and 500 businesses in Doma and Lafia Local Government Areas (LGAs). The six communities accessing electricity for the first time are Rukubi, Idadu and Igbabo in Doma local government and Kiguna, Akura, and Gidan Buba in Lafia. In September, Husk received financial support from Nigeria’s REA to develop seven hybrid solar mini-grids in Nasarawa, as part of the NEP’s performance-based grant programme. According to the

company, the seventh site would come online in 2022 along with a larger pipeline of projects. Besides providing electricity to the local Doma and Lafia households and businesses, the mini-grids are expected to support local agricultural activities such as milling, cold chain and irrigation. Speaking at the event, Governor of Nasarawa State, Mr. Abdullahi Sule, described it as an important step in the efforts to make power accessible to all, including far-flung areas in the country. “The completion of the six minigrids by Husk Power Systems in Nasarawa State is an important step in scaling rural electrification and achieving energy access for all Nigerians. “It is with great pride that Nasarawa State has collaborated with Husk Power, the world’s leading rural clean energy services company, and the federal government through the REA to implement these impressive projects which will ensure clean, safe and reliable electricity for the benefiting communities,” he said. The governor called on the community leaders to protect the project, urging them to ensure that government is motivated to carry out such projects in other parts of the country. “You are the ones to jealously guide this project, it is your responsibility to protect it with your sweat and effort to ensure its not destroyed. On its maintenance, government will come into that,

but you need to protect the project and particularly those handling the project,” he said. Acting Regional Director for Infrastructure, Africa West and Africa East and Practice Manager, West and Central Africa Energy, Ashish Khanna, described the World Bank as a partner, saying that the programme would reach over 1 million Nigerians. “The World Bank is a proud partner of the government’s NEP. It is two years ago that the first solar mini-grid was commissioned under NEP at Rokota village. Since then, significant progress has been made with 359 private sector-led solar projects under development with the potential to provide electricity to 1.1 million people. “Husk Power is now showing the way in scaling, with the first ever deployment of six sites simultaneously under the programme, contributing to their ambition to roll-out 500 systems by 2026. “We look forward to jointly continue to move the needle in providing electricity to the 80 million people who don’t have access to this today,” he said. The six communities which were previously ‘unelectrified’ will now enjoy uninterrupted and clean energy supply to boost their businesses and give them access to events around the world. With a total capacity of 300kw, the newly launched mini-grids will not only provide clean, reliable and affordable electricity to about 5,000

households and 500 businesses, it will also support local agricultural activities and spur economic growth in the benefitting communities, who are predominantly rice farmers. The Chief Executive and Co-founder, Husk, Manoj Sinha, speaking at the inauguration, stated that Nigeria’s leadership in rural electrification and making mini-grids a centrepiece of national energy strategy remained a global best practice. Also, Managing Director, REA, Mr. Ahmad Salihijo said the project was a testament to the federal government’s resolve to increase energy access to Nigerians, especially to the unserved and underserved communities. Apart from improving the economic activities of the communities, the REA, he said, was also committed to using off-grid energy in the reduction of carbon emissions, in line with Paris Agreement on climate change. "It is evident that our intervention in communities is key to accelerate true national development. With continued guidance from the federal ministry of power, we will continue to lift up remote communities across the nations through the provision of clean, safe and reliable energy," he noted Chief Maintenance Officer, Husk, William Brent, stressed that solar power remains one of the most sustainable sources of power all over the world, even as the world continues its drive towards renewable sources of energy.

THURSDAY NOVEMBER 4, 2021 • T H I S D AY

T H I S D AY • THURSDAY, NOVEMBER 4, 2021

COMMENT

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

SUDAN’S GLORIOUS REVOLTS AGAINST POLITICAL IDIOCIES Okello Oculi writes that the people have lost faith in the military

elevision pictures showing lanky and skinny young men and young women punching fists and addressing rallies have long histories of strong female ancestors and mass uprisings and wars for freedom and sovereignty. Murder with military bullets also hide records of civilian mass protests inciting the military to overthrow oppressive rulers. In 1811, the Ja’alin, a mixed people from Black Nubians and Arab immigrants, massacred Egyptians who sought to impose their rule over northern banks of River Nile. This legacy would be followed by followers of a Mahdi whose popular uprising massacred Ottoman Turks and their British and other European mercenaries who ran brutal economic exploitation in the fertile alluvial plains of the Gezira. The majority of Mahdist fighters came from Darfur where the leader came from. Professor Mahmud Mamdani has claimed that after 1920, British colonial officials engineered tribal conflicts to erode the nationalist solidarity which the Mahdist war had generated. However, in 1958 students and politicians united on the streets of Khartoum and Omdurman and drove General Aboud out of power. Active interference by Egypt’s spies in Sudan’s electoral and parliamentary politics led to unstable alliances and rises and falls of governments. In 1989, Omar Bashir, a top military intelligence officer, evolved the use of claimed devotion to Islam to draw people’s political loyalties around dynasties of the Mahdi and Khatmiya electoral families. Bashir used his training as intelligence operative to build lists of critics and potential opposition for arrests, torture in prison, humiliation and termination. His party followers exploited injunctions of Sharia Law to target educated women for harassment: grabbing and dragging them to Police Stations and charging them with ‘’indecent dressing’’ in public. As a people associated with a legacy of Mahdist revolt, persons from Darfur became targets for hostile treatment. A 2018 Report stated that ‘’Darfuris’’ who managed to get government jobs are often denied promotions; their businessmen ‘’must pay ‘extra levies’, ‘’while those in security forces are likely to remain in the lower ranks’’. Students taking part in demonstrations were likely to be shot, arrested and tortured in detention; while most Darfuris did menial jobs and live in slums outside the outskirts of Khartoum and Omdurman and other major towns. They share poverty and shanty areas with other people who have migrated from periphery regions into Khartoum, Omdurman and Khartoum North - located in the centre of the country. The Ja’alin elite have con-

MASS PROTESTS IN 2018 AND 2021 HAVE BEEN FUELLED BY ANGER AGAINST THREE DECADES OF FAILED, OPPRESSIVE RULE AND UNDERDEVELOPMENT

centrated services in this central zone; becoming targets of hostile protests against discrimination, inequality and impunity. The National Intelligence and Security Services (NISS) focused on the Zhagawa, Masaalit and Fur peoples of Darfur with a policy of burning their villages, massacres and occupation of their land by Janjaweed Arabised cattle and camel herders. These internally displaced peoples (IDPs) have become dependent on international ‘’humanitarian aid agencies’’. This governance with permanent violence against targeted populations became the core of political idiocy. In the history of Britain, France, China and Japan, the idiocy of ruling elites was terminated by chopping off heads of kings and their aristocratic allies. Mao Zedung’s army chopped off heads of cruel landlords; Japan’s Meiji reformers chopped off heads of corrupt, predatory and cruel Tokugawa rulers, while Britain’s business classes chopped off the head of their greedy King Charles for progress into codes of democratic governance. Sudan has not resorted to regicide; not even against the murderous military dictator General Jaafar Nimeiry. Nimeiry and Bashir led ruling elites much blinded by political idiocy. Both turned to war against opposition in South Sudan to divert failures and corruption by their governments. They aroused racist and religious hatred against a resilient liberation movement led by a charismatic and highly educated former military officer, John Garang. Almost blind by interest of multinational corporations in mineral resources across South Sudan, the Ja’alin elite in Khartoum indulged in massacres of over three million peoples in the region for over 30 years of armed struggle led by Sudan People’s Liberation Movement (SPLM). The collective humiliation of 2011 when South Sudan became a separate country marked the peak income of this political idiocy. Mass protests in 2018 and 2021 have been fuelled by anger against three decades of failed, oppressive rule and underdevelopment. The emaciated youths who bleed from military bullets while refusing to accept defeat are fuelled by a long glorious legacy of fighting for freedom, sovereignty and justice. Their example joins the river of wars for liberation in Tunisia, Algeria, Southern Africa and Guinea Bissau and Cape Verde. The ‘’Million Mass Demonstration’’ on 30th October, 2021 chanting that people ‘’don’t want the military to take over power and rule’’; with worker paralysing Port Said – the country’s trade window; raises doubt about the NATIONAL character and legitimacy of the military.

HIGHER EDUCATION: WHY FG NEEDS TO STEP BACK Government should fund the universities based on students’ needs, argues Bolaji Abdullahi Continued from backpage

o put it plainly, Nigeria is paying so much in the name of subsidy in higher education but getting very little or nothing in return; whether in terms of meeting the national objective of developing high level manpower, or even in terms of economic and social benefits to the individual students and their families. We therefore need to change course. As I have noted earlier, what government has done over the years is to subsidise the personnel cost of the university administration rather than support the students who should benefit from the subsidy. Government will continue to subsidise the universities, but the subsidy needs to be repurposed. Best practice is to fund the universities based on students’ needs. How much does it cost to give university education to a student in Nigeria per annum? This cost may also vary from locations, course of study and sundry factors. What we need to establish therefore is the basic minimum cost. A 2005 estimate by the National Universities Commission (NUC) projected that it would cost between N345,000 and N680,000 to train a student, depending on the faculty. In 2021, these figures will merely be illustrative. Therefore, if we take N680,000 as the average cost of training a student, it will mean that a university with 10,000 students will receive an allocation

of N6.8billion if the government intends to continue with full subsidy. The benefit of tying cost to students is that it would, among others, ensure that students become the centre of universities’ planning and operation. Now, students are hardly part of the plan. What this also means is that the universities are effectively funded as the cost per students is allocated around the core elements of that students’ training, which will include payments to lecturers, teaching facilities and other services, which would have been factored into the cost. However, should government decide on partial subsidy, which means only a percentage of this cost would be borne by the government, the universities should still expect to get full payments. The difference in this case is that other people are also contributing to the payment besides government. For example, if government decides to pay 60 per cent of the cost, it means the university would still expect to receive N6.8billion for its 10,000 students, but in this case, only N4.080billion will come from Federal Government and the balance of N2.720billion will be paid by the students as tuition at N272,000 per student. Tuition payment is one of the most politically contentious issues in Nigerian education. However, as shown earlier, if it is clearly defined as a means of improving quality, which in turn will enhance the employability of the students upon graduation, most parents would be willing

to pay. Nevertheless, the idea of a federally backed Education Bank needs to be brought back on board to off-set the challenge that students from poor homes are likely to face when they now need to pay tuition by awarding students loans. But this must be part of a broader plan rather than a stand-alone initiative. In addition to student loans, merit-based scholarships and general bursaries are other avenues of funding that would be open to students from governments at all levels. Nigeria cannot continue to pretend to give free university education, which is quite costly because it has made it difficult for students and their families to demand accountability or improvement even when available evidence suggests that prospective employers no longer have confidence in the system. As things stand, our universities do not need to change anything. After all, how much money they get or how many students come to them each year does not really depend on anything they do in terms of their core functions. This needs to change. Global trends indicate that less government is better for universities and that institutions of higher learning function best when they are self-governing. It must be noted however that the degree to which universities are autonomous worldwide is also mostly determined by the extent to which they rely on government funding. ASUU has been at the forefront of fighting for university autonomy; but the quest for

autonomy would always be undermined by the universities’ corresponding desire and willingness to continue to draw the bulk of their funding from the federal government, especially those related to salaries and other compensations. What we should aim for is a system of embedded autonomy, which gives the government overall policy formulation, coordination, and monitoring role, while freeing the universities to operate as autonomous units. This relates to what the Harvard Professor, Lant Pritchett has described as the ‘starfish’ system, which allows for a level of control from the centre but grants freedom to each of the limbs to operate with significant autonomy. Compared to a ‘spider’ system, which pulls responsibility for all functions to themselves, especially through financing; a starfish system, he says, creates local operation which, “pulls apart all of the many functions and activities and allocate those across the system.” Essentially, what we require is a system that would foster high level competitions for resources and even for students. This will create the condition for each university to develop at its own pace, based on real accomplishments in research, in teaching and in their contributions or responsiveness to national development goals. We should have done this many decades ago. But we can start now. Abdullahi is a former Minister of Youth and Sports

T H I S D AY • THURSDAY, NOVEMBER 4, 2021

EDITORIAL ZULUM AND THE BORNO IDPS The government must tread with caution

overnor Babagana Zulum is convinced that Borno State, the foremost outpost of insurgency in the North-east, is now safe for him to close the camps for Internally Displaced Persons (IDPs) in Maiduguri. By Zulum’s assessment, “a reasonable degree of peace” has come to his state and that it is unnecessary to keep the internally displaced persons in the camps. He reasons that the threat posed to the people in many of the communities by Boko Haram and Islamic State West Africa Province (ISWAP) terrorists has abated. Thrown into his plan is the repatriation of IDPs taking refuge in neighbouring Niger Republic by 27th November. While Zulum’s statement is enough for every IDP in Maiduguri camps to weep for joy that their nightmare is over and that they can now reset their lives to normal mode, there are still unanswered questions about what influenced the governor’s optimism and resolve to disband the camps. There are reports that THE GOVERNOR MUST terrorists still roam CONSULT WITH THE freely in most of the MILITARY, VILLAGE AND communities the TOWN HEADS AND OTHER governor is talking STAKEHOLDERS BEFORE about. Indeed, there SENDING THE RESIDENTS are insinuations that OF DISPLACED PERSONS’ the governor may CAMPS BACK TO THE be under some sort UNKNOWN of political pressure to return the IDPs to their ‘ancestral homes’ after his recent meeting with President Muhammadu Buhari. It is particularly curious that Zulum is heeding the call to send back IDP residents based on a newfound trust in the Nigerian Army that he once lamented “does not have the lethal weapons, fighter helicopter and numerical strength to fight aggressors.” So, the

Letters to the Editor

question that remains to be answered is whether the governor intends to close the IDP camps in Maiduguri and repatriate displaced Nigerians in Niger Republic just to prove the point that peace has returned to his state.

I 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

nstructively, Mallam Fatori, where Zulum plans to repatriate IDPs in different provinces of Niger Republic to, is a local government headquarters in the northern part of Borno where a “growing number of ISWAP” operates. The governor said, “But somehow, we don’t have human population in this local government area because of the insurgency. Now that we have achieved a reasonable degree of peace, government decided to resettle Mallam Fatori communities.” We understand the position of Zulum who said recently that it is no longer sustainable for people living in IDP camps and host communities to receive food and non-food items from donor partners. “People must earn their livelihood if we want this insurgency to come to an end,” he said recently while urging the military to create the enabling environment for farmers to go and cultivate their lands. We align with the call on federal authorities to realise that a government that cannot guarantee the security of life and property for citizens and residents in a country has failed. With the maimed, the orphans, the widows, widowers, and the tides of refugees in IDPs camps practically left to their own devices, we also understand why Zulum may want the people back to their communities so they could engage in productive activities and fend for themselves. However, he should not gamble with innocent lives. The governor must consult with the military, village and town heads and other stakeholders before sending the residents of displaced persons’ camps back to the unknown. Only people that are alive can farm.

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.

NIGERIA MUST GUARANTEE THE SAFETY OF JOURNALISTS

he greatest virtue of journalism is not that it deliberately provokes controversy, the resolution of which usually gives people a voice, enabling them to ask tough questions and demand answers: it is, perhaps, that it is able to harshly shine light on society`s steepest failures, telling in the process, the most uncomfortable stories. It was on October 19,1986, in the thick of the military dictatorship of Mr. Ibrahim Babangida that Mr. Dele Giwa, one of Nigeria`s most iconic journalists, was killed by a parcel bomb presumably dispatched by agents of the state. Many years down the line, the spectacular circumstances of Mr. Dele Giwa`s death continue to highlight the many dangers journalists face as they work. But what exactly do journalists do? What exactly makes journalism, that seemingly innocuous profession, so dangerous to some people found in every society? The answer to the questions above can be fully expressed in one word: truth. Simply put, journalism and its practitioners go after the truth. When they find it, they uphold their responsibility to the people – the responsibility to report the truth no matter how uncomfortable or how dangerous it is. Simply expressed, journalism recognizes the darkness of ignorance, opposes it, and exposes it by arming the public with the power of information. That is what makes journalism and journalists so dangerous to some people in every society. Who then are these people? In Nigeria, they include many public officers for whom corruption holds no compunction whatsoever; they include those complicit in compromising the war against terrorism in Nigeria by tacitly supporting and funding terrorists; they include those who stymie education in Nigeria by muddling up transparency in Nigeria`s public schools; they

include those who manipulate elections to pervert the people`s will; they include those who abandon contracts beneficial to the public even after they are paid upfront. The list is not exhaustive and so from all corners, the journalist is a target because of the critical contributions they make in upholding democracy. For indeed democracy dies in darkness. Every year, journalists lose their lives in Nigeria or suffer one form of dreadful attack or another. A handful of journalists are incarcerated in Nigeria for nothing other than offering the public the very healthy serving that truth is. Nigeria is not alone in the dangers journalists face. Historically, journalism has always proven a formidable menace for dictatorship and oppression no matter how expertly disguised. More than all the heavy-duty equipment that have gone into excavation anywhere on earth, the pen has proven a matchless force for digging up the truth, shaping opinions and forcing conversations. It is why dictators fear the peculiar discomforts that journalism foists on them. Thus, whenever they can, they kill or incarcerate journalists. All over the world, many journalists languish in prison or have been killed. The countries most complicit in heinous crimes against journalists often have one thing in common: dictators. Nigeria has been rocked by the disappearance of Tordue Salem, a journalist with the Vanguard newspaper. The police have said it is doing everything within its power to discover his whereabouts. It is important that he is found and that journalists in Nigeria are assured of safety in the critical work they do to support Nigeria through its many man-made crises. Journalism shines a blinding light into the stygian darkness that dictatorship is. That light must never be allowed to go off. Kene Obiezu, keneobiezu@gmail.com

FIGHTING HUNGER IN YEMEN

n teary-eyed statements and bleeding-heart liberalism emotional appeals, certain honchos just put out that about $6 billion is needed to fix world hunger and if big businesses contribute a fraction of their profits blah, blah, blah then, phew, there shall be food aplenty on the tables of the hungry. This appeal was aimed at American billionaires, principally. Elon Musk has no problem making a contribution to fix world hunger but he wants proof that $6 billion will do this trick. A recent report indicated that a hefty chunk of the world’s hungry people calls two principally Muslim countries home, namely Afghanistan and Yemen. Elsewhere, in non-Muslim climes, poor folks are working hard to put food on their tables by themselves but the Afghans and Yemenis are cool to wait for food aid efforts. Now, the pre-eminent Muslim country of Saudi Arabia, with its slew of billionaires can help fix hunger in these countries and other Muslim climes but, no, the Crown Prince over there was keen about committing multi-billion dollar funds to purchase Manchester United Football Club before that deal fell through. Where is the “heart” of Saudi Arabia? Muslims world over tag America and its systems plus other affiliate Western countries “infidels” but these “kuffars” are the ones who are pained that Muslims are on the verge of starving to death in Afghanistan and Yemen. Mr. Musk ought not lose sleep about Afghanistan and Yemen because the king of Saudi Arabia and the sultan of Brunei are super-duper billionaires who can fix hunger in all Muslim climes. Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna, Niger State

THURSDAY NOVEMBER 4, 2021 • T H I S D AY

T H I S D AY ˾THURSDAY NOVEMBER 4, 2021

POLITICS

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

Danladi-Salihu: Kwarans Are No Longer Slaves to Any Political Warlord

Speaker of the Kwara State House of Assembly, Rt. Hon. Yakubu Danladi-Salihu, representing IleshaGwanara State Constituency, summarises the achievements of the 9th Assembly under him to a team of journalists including Nseobong Okon-Ekong. Excerpts:

some other preliminary works have been done. Our members remain very close to the grassroots.

ou are one of the youngest speakers in Nigeria. How are you able to manage the House despite being a first term lawmaker yourself? Firstly, I have been handling the affairs of the House with the fear of God. I see and carry myself as just the first among equals. We relate as brothers, colleagues and compatriots who have a duty to the people of the state who have entrusted us with their mandates. In everything we do, I go for consensus building and we all look after one other. This has been the secret. I am always grateful that we place the interest of the state above group, sectional or personal interest. This has made us tick as a team. I don’t see myself as superior to any of my colleagues and I try to act as their chief servant. Many of them treat me as their little brother who must succeed. I cannot thank them enough. What would you say have been the achievements of this House? This 9th Assembly is a unique one. It is unlike any other Assembly in the recent history of the state because of the peculiar nature of our emergence. We came through a political revolution called O toge. What we have done is to ensure that we work with the exec urging and the judiciary to deliver on the mandate of our people. First and foremost, the Assembly has been a strategic partner for success to the executive. We cooperate without jettisoning legislative independence, engendering mutual respect and synergy. This House has passed 18 bills, 39 public spirited motions. Many of our bills have direct impacts on the wellbeing of the masses and equitable distribution of wealth. An example is the Kwara State Social Investment Programme Bill, which we worked on. Today, tens of thousands of our people are being lifted out of poverty. Apart from this, we conduct adequate oversight functions to ensure judicious use of public resources. In doing this, we

Danladi-Salihu

are mindful of the fact that this is a young as administration led by a very sincere and committed patriot, Mallam AbdulRahman AbdulRazaq, who is very passionate about the well-being of the people. Of course, this is glaring in the achievements across various sectors like health, education, water, social development, road, and others. We have also worked on some bills that will really transform Kwara State. Take the Kwara State Education Trust Fund, which has also been assented to by the Governor. By the time the Trust Fund becomes operational, public education will never be the same again. The Kwara State Sports Commission Bill is another milestone. Same for the Geographic Information Service (GIS) Bill which has also become law and will soon go into full implementation after

The Otoge Tsunami in Kwara was one of its kind in Nigeria in 2019. Would you say the APC administration has justified the confidence the people of Kwara State reposed in you? Except for those who want to play politics, there is no part of Kwara State where the programmes and activities of this government is not being felt. It has never been so before. There is no local government you won’t find one or two projects in various sectors. Currently now, there is massive rehabilitation or remodelling of schools across the state. This has never been so. This is coming just a few months after our people benefitted hugely from a very transparent, child-focused teachers’ recruitment process. It is the best we have ever seen in this state. Go and ask anyone. There is no ward where you will not find beneficiaries of the social safety programme of the administration. In Baruten where I come from, we have never had it so good. In the next few weeks or so, the government would have completed and possibly Commission a brand new radio station. It is the first radio station in the whole of Kwara North senatorial district. Before now, we relied on radio from Benin Republic. The region has never had benefited from public water interventions as we have seen under this administration; it is same for health facilities. The results are glaring. The popular 33km Ilesha Gwanara Road is now undergoing construction up to asphalt level. This is a road that had been abandoned after over N1bn had been stolen under the last administration. I can go on and on. It is important to note however that

the Otoge revolution goes beyond the great things we are seeing in the area of basic amenities. It is also about the dignity of the human person. Kwarans are no longer subservient to anyone. We are no longer referred to as slaves to any political warlord. Every politician now knows that the people matter. Senator Saraki said in an interview a few days ago that the people of Kwara State have regretted their decision on O Toge. What do you say to that? He was actually insulting the people of Kwara State. Senator Saraki himself does not believe what he was saying. He knows there is a clear cut positive difference in the Kwara of 2019 and Kwara of today. In 2019, Kwara was a pariah state on many fronts. I’m sure you have heard the story of how we were humiliated out of UBEC because the government that Senator Saraki inspired diverted money meant for the development of basic education. We were blacklisted. When he was leading Kwara, workers at the Colleges of Education were being owed 30 months in salary arrears. The schools had all lost accreditation. In fact, the norm in those days was for your relatives in the civil service to beg you for money because they were not being paid. They were still owing workers even when they got bailouts from the Federal Government. Things were really bad. Everything has collapsed under them. People had lost hope. We no longer have half salary as we had it under his reign. We have breathed life back to Kwara. I believe Senator Saraki was just playing to the gallery on the national TV. In fact, the people will respond to his comment that they were gullible and unreasonable to vote him out. He will get his response at the right time. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Adamu: Aggrieved APC Members Put Your Grievances in Writing The Chairman of the ruling All Progressives Congress reconciliation committee, a former governor of Nasarawa State, Senator Abdullahi Adamu has told members of the party that are aggrieved to forward their written petition to the committee. Nseobong Okon-Ekong reports

here is a hardly any state chapter of the APC without one issue another, mainly arising from the governorship primaries and the congresses held so far, what are you doing about it? We are not going to assume. We have to formalize it, party issues is not a one man issue. It is a body of institutions comprising of members of the party. Where there are complaints, we want to have them in writing, put it on record on what complaint and coming from where and from whom. We would arrange after compiling the complaints, we will arrange to have interaction directly with the sources of these complaints. Who are the principal persons behind the complaints then we will have a meeting with them. Then round up with the leaders of the party, so that we will also tap from their experiences and fair knowledge of what is happening to our party.

grieved will petition, they will formally submit what is their grievances, what is offending them. We will not work on speculations, we want to have a formal presentation on the areas of conflicts and on the basis of that, we see how to approach our solution and efforts to reconcile the disagreeing parties. We don’t want to work with speculations. Anyone who is aggrieved should write formally to us, the committee.”

Adamu

By the time we do that we will have a complete package of the solutions that were provided. We

will do our best to see that this assignment succeeds. Generally anybody that is ag-

What are you going to do about members who have approached the courts and have rejected all pleadings to withdraw their court cases? We also find means to encourage those who have drag the party to court to withdraw their court cases. You know the party has advised members against instituting legal action. We don’t want to go to convention as a divided house. We will address the grievances before the convention.

T H I S D AY ˾ THURSDAY NOVEMBER 4, 2021

POLITICS

Maduka: Governing Anambra DISSENTING VOICE...IN HIS OWN WORDS State Will Be a Walk in the Park Warri Palace Chiefs Set the

Dr. Godwin Maduka, Anambra governorship candidate of Accord tells Nseobong Okon-Ekong why he is sure of victory in the November 6 election

Record Straight on Emami’s Title Removal

him from winning the election with me. He can’t decamp to another party until after November 6. I have been researching this. If I win, he wins. He can decide to resign after that and we get somebody else. Human beings are who they are. He can’t do any harm to the governor. He can’t do any harm to the candidature. I am the principal. After we are sworn in, I make the decisions. I will try to give him work to do as my deputy, eventhough he has shown now that he can’t be trusted . If he still insists on decamping, the law is clear on that. Until November 6, he is in Accord, nobody can legally give him the membership card of any other political party now, because it is a joint ticket and both of us were cleared.

Vanessa Obioha presents the submission of a team from the Palace of the Olu of Warri, Ogiame Atuwatse III on the raging controversy over the removal of socialite and businessman, Ayiri Emami from the exalted oﬃce of Ologbotsere of Warri

Dr. Maduka

his particular governorship election Anambra has become unusual with candidates moving out of the state to campaign to Anambrarians outside Anambra. What does that mean, because you are not speaking to the people who are in the state, you are speaking to Anambrarians outside We have to do what we have to do to get our message across. This makes it so hard to campaign . The only unfortunate thing is that it might affect the election itself. I know that I have more than what it takes to be the governor. All efforts have to be made by me to make sure I sell myself to Ndi Anambra. The other people have nothing to lose. They are gamblers. They have come in to see if by some method they can win. I am not a gambler in politics. I need a platform like that to continue what I have done in the past and in my town to the rest of Ndi Anambra . It makes it a little bit difficult. However, prior to the serious insecurity, people of Anambra had received all of us, going around the state to sell our agenda, campaigning to them. So, if you have not reached most of the people at the grassroots by now, then you are not supposed to be running for the governor, anyway. We had a lot of time to talk to the voters. I think the serious insecurity started two days after I finished my ward round .

INEC has said there won’t be voting in over 80 Polling Units. I want your reaction to that If there are no voters, there shouldn’t be any voting over there. That is INEC showing that they mean business. Every politician is asking me, ‘have you talked to INEC’?’ Why should we talk to INEC? If INEC means business and they are independent, they will make sure that nobody tampers with that result and the best man will be the governor. I will actually give them kudos for doing that, otherwise it will get to the hands of political opponents who will put some ghost voters there. How are you taking the issue of your running mate, your deputy going to another party? He is still my deputy. The Electoral Act is clear about that. He knows the law. As far as I concerned he is still with me, legally bound. He can’t get the membership card of any political party until after November 6. If he wanted to leave, he should have left a long time ago to allow a substitution. I am not worried about that. My candidature is intact. I have been cleared to run. Even I can’t say I am not running anymore. There is nothing that can stop

What impression did you come away with as you went around on tour of wards? It proved to me that I made the right decision to leave the comfort of my surroundings in the United States of America to come to Africa to run for governor. I was able to validate my reasons for running for governor. I saw so much hardship, hunger and poor standard of living. This gave me the resolve to continue the governorship race, which I believe I am going to win, unless there are no persons with common sense in Anambra and I know that the people have common sense. You see what I have done. I have singlehandedly built a town like a state. Now I want to build a state to look like a country. It is not saying, I can do this and that, show me what you have done. From what you have done, that will tell us what you are going to do. Governing Anambra State will be a walk in the park. Fifty percent of the funds I need will come from foreign investment. How are you going to assure your supporters of their safety when they come to vote and to standby their vote? That is what I am doing now. I have my people all the ward chairmen, who will be going from house-to-house in their ward, telling folks we are making sure it will be fine. The best thing is that they will be voting in the confines of their own environment where they know everybody. Anybody else you see outside, then you have to raise the alarm. I call on vigilante groups to make sure that they are watching everybody who comes in and out. There might be sporadic shooting here and there, but it is not going to stop the election. The people who are illegitimate want to have this kind of shooting so that they can rig the election . But Anambra State can’t reject her son who is a world class in Medicine, a business guru, a philanthropist of the millennium, a peoples man and go for a riff-raff, by whatever description. I have this confidence that I will win. Some of your supporters have expressed concern that the security agencies may be supporting the candidate of the APC. Do you share this concern? I will support the APC of they had the right candidate. APC is not a bad party, but with somebody like Andy Ubah who has no educational qualification, did not emerge from a fair primary and carries a lot of baggage, I have no respect for them. To make it worse, they never conducted a primary, but now you are heading into the general election. APC would have had a chance had it not been for the involvement of Andy in the whole thing. With Andy Ubah as their flag bearer, they have no chance. He can buy all the councillors, all the state assembly men , all members of the House of Representatives, but can these people go back to their wards?

L-R: Prince Toju Emiko of the Ginuwa Dynasty, Chief Mene Brown, the Ogwa Olusan of Warri Kingdom and Mr. Oti Ikomi of the Itsekiri Renaissance Group

he Ogwa Olusan of Warri Kingdom Chief Brown Mene accompanied by the noble Prince of Iwere Land, Toju Emiko and a prominent businessman, Mr. Oti Ikomi were in Lagos yesterday to clear the air on the removal of socialite and businessman, Ayiri Emami as the title holder of Ologbotsere of Warri by the recently crowned Olu of Warri, Ogiame Atuwatse III. Last October, the Olu dethroned Emami from the Ologbotsere office following a fallout between the two. Emami, whose title made him the first among equals, has rejected the Olu’s pronouncement, claiming that he doesn’t recognise the new king nor did the king emerge through the traditional process. Establishing the facts, Mene said that the King had the ultimate power to confer and remove any chief. He also clarified that the Ologbotsere title is not synonymous with a Prime Minister role. “He is just a first among the equals and his role is to preside over the Olu Advisory Council made up of seven chiefs.” He added that Emami deliberately delayed the crowning of the new King because he wanted to occupy the throne. “His belief was that without an Olu, he could function as one and he conducted himself that way.” Mene explained further that right from the onset, Emami’s emergence was not embraced. According to him, the people protested his emergence due to his controversial mien. “Before he even got there, that was why there was a protest because they knew the kind of person he is. Knowing him to be who he is, if you let him get there, he will not do anything constructive. He is going to use it, it will go into his head and he will use it to destabilise and of course, as soon as he got there, this is the way he has been behaving. This is not the first time we saw this misdemeanour on his part, but it has come to the point where his cup is full and overflowing. He debunked claims that the King reduced the Ologbotsere title. “That’s wrong. It’s a narrative that has been falsely put out by Ayiri, sponsoring someone to spew that out because that will read wrong to many people. The Olu said it categorically. The title was not abolished, even though he has the power to do so. But he did not. As a matter of fact, he said the appellation of the title will be answered, for now, by the most senior person in the family.

If it was abolished, he wouldn’t do that. So it’s not abolished.” In the history of the Warri Kingdom, there has only been four Ologbotsere title holders. The Ologbotsere title is a lifelong one but the King has the power to withdraw the title if the chief does nor conduct himself well. “If such a person is playing a role to an extent that he is doing more damage than holding things together, the Olu reserves the right to put him aside and stop him from being the chief. We have many circumstances.” Again, he emphasized that all titles that are family-based were made so by the pronouncement of the Olu of Warri. “To be sure, Mr. Emami has ceased to be an Itsekiri chief and certainly has no claims to the retention of the title of Ologbotsere that in reality belongs to the King and was merely concessioned to the Ologbotsere family which incidentally, I am a member of.” He also stated categorically that the new King’s name was tabled before the oracle and they got a response before they proceeded. Emiko added that prominent persons like the former governor of the state Emmanuel Uduaghan made efforts to resolve the issue but to no avail. “He was playing politics because he felt he could create a situation where there could be a stalemate so he can be acting with the misconception that he is the traditional Prime Minister. The Itsekiri customs and tradition does not recognise the Prime Minister. The Itsekiri government is just like a tripod, the Olu is at the top. There is no assistant or deputy, nothing like that. “Reasonable efforts were made but they were just stalling and they decided to go to court. Anybody can go to court. There’s no stress about that. We are meeting them there. We are not afraid of court. Courts are meant for human beings and not animals. We are meeting them there” Lending his voice to the matter, Ikomi said that they want to move away from the distractions and focus on the development of the kingdom. He said as the Chairman of Itsekiri Renaissance Group, made up of “vibrant professionals, executives and dedicated Itsekiri men and women who seek to execute high impact projects,” the renaissance is focused on “massive development in tourism, environment, infrastructure, among others to bring equitable advancement of our people in jobs and qualified national positions.”

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FEATURES

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

FRSC, Partners Seek Safer Motoring Environment Nnamdi Uganwa

urtailing the growing wave of mishaps on the roads across the nation can no longer be left to the Federal Road Safety Commission, FRSC, alone. That must be the conviction of organisers of a one-day sensitisation programme for truck, trailer drivers and other road users in Abuja. The event, hosted by Proedge Communication, attracted several critical stakeholders and was designed to promote safe motoring environments to raise the consciousness of truck drivers and other road users on the best approach to scale down road crashes. The programme was timely in many respects. It has the inclination to have a far-reaching effect in instilling some level of discipline in the road users during the ‘ember’ months, given the increased rate of carnage associated with this period each year. Targeting truck drivers, according to the organizers, is strategic based on the research indicative that drivers of articulated vehicles constitute the bulk of those on the list of infractions and major accidents. The event had representatives of drivers unions in attendance including the Unit Chairman, Petroleum Tankers Drivers, NUPENG, Alhaji Nma Mustapha; Chairman, Suleja/Abuja unit of Independent Petroleum Marketers Association of Nigeria, Alhaji Yahaya Alhassan and the unit Chairman of Major Oil Marketers Association of Nigeria, Comrade Hassan Mohammed. Corp Marshal of the Federal Roads Safety Commission, FRSC, Mr. Boboye Oyeyemi who decried the unsafe nature of the roads on account of the recklessness by drivers, enjoined the participants to be more responsible in the use of the roads in order to save lives and property. Represented by the Commission’s Assistant Corps Marshal in- charge of Federal Operations, Adegoke Adetunji the FRSC boss provided the participants with standard procedure to follow towards ensuring safer roads and fuller lives. He warned participants and indeed all road users against night travel, self-induced fatigue, over-speeding and wrong parking. He however emphasized the need for them to be well-skilled in driving; ensure that their vehicle particulars including their driver’s license are up-to-date and that they are in the right state of mind before embarking on every journey. Particularly concerned about over-speed, night journey and fatigue, Oyeyemi explained the inherent dangers involved in each of them. He noted that as long as night is naturally designated for sleep and rest, embarking on night journeys meant cheating nature and therefore courting trouble, often manifested in fatal crashes. He further noted that when a driver is over-speeding he does not have effective control of the vehicle. Given that vehicles are mechanical in nature any untoward incident on high speed often results in unimaginable devastation. Similarly incensed by the increasing level of danger fatigue drivers have unleashed on the roads, he stressed the importance of road users resting adequately before embarking on any long journey. Accordingly, he sensitized them on the law that mandates drivers embarking on a long distance journey to park and rest adequately at intervals of four hours before continuing their trips. The Corps Marshal may have relied on repository knowledge of the motoring environment and facts to caution the participants. Indeed, reports and statistics on road fatalities recorded by the National Bureau of Statistics underscore the warnings, directive and pieces of advice given at the event. NBS also disclosed in a report corroborated by the FRSC that over-speed, night journey, fatigue experienced largely by articulated vehicles drivers constitute the greatest springs of road fatalities in the country. However, Mallam Auwalu Mohammed, a truck driver in Nasarawa, Nasarawa state who spoke on behalf of other participants, expressed

FRSC Corp Marshal, Oyeyemi

He warned participants and indeed all road users against night travel, selfinduced fatigue, over-speeding and wrong parking. He however emphasized the need for them to be well-skilled in driving; ensure that their vehicle particulars including their driver’s license are up-to-date and that they are in the right state of mind before embarking on every journey profound appreciation to the organizers for sensitizing them on safer motoring environment. He noted the importance of holding the event on regular basis and emphasized the need for the Commission to work harmoniously with the road users particularly lorry drivers to ensure that the accidents on the roads are minimized. Apart from the need to keep our roads safe during ‘ember’ months, records at NBS underpin the need for constant sensitization targeted mainly at truck and tanker drivers. For instance, NBS indicated that an average of 11,000 road mishaps occur each year in the country with an average of 5,000 deaths. This, according NBS translates into 15 deaths that occur on daily basis from road fatalities, resulting in the more than 33 deaths per 100,000 people in the country. Moreover, between January and March 2020 there were 1,758 deaths from roads accidents and April and June the same there were 855 deaths. January this year alone there were about 25 ghastly accidents that

claimed more than 204 lives in Nigeria. Further studies have it that tanker explosions claimed over 230 lives between June 2018 and December 2020 and that during this period, over 70 persons also sustained serious injuries in crashes involving tankers and other articulated vehicles with properties estimated at millions of naira lost to fires from explosions, while many victims are still in hospitals battling to survive their injuries. An instance is a recent devastating explosion along Mobolaji Bank-Anthony Way in Ikeja, Lagos, after a tanker laden with liquefied petroleum gas exploded and caught fire. In just few minutes, five persons and 25 vehicles were burnt to ashes while many shops in the Ogun State Property Investment Corporation plaza were affected leaving on its trail pains and sorrows. This is one among several incidents involving tankers and trucks in Lagos and other parts of the country. A recent research also indicates that

of about 358 transport accidents recorded in Nigeria between 2019 and 2020, out of which 70 percent involved were trucks and heavy duty vehicles, 32 percent of the trucks and tanker drivers were found to be below 30 years of age and most probably inexperienced to handle such demanding task. These inexperienced drivers are clear and present dangers on the highways. The menace of tankers and trucks was corroborated by the Lagos State Commissioner for Special Duties, Mr Seye Oladejo who reckoned that over 300 tanker accidents were recorded in the state in 2020 with about 114 major disasters. The picture painted above has evidently made Nigeria one of the highest accidentprone nations in Africa and globally. These realities enhance the imperative of seminars, conferences, workshops and even meetings of this nature geared towards improving the driving competences of the road users particularly tanker drivers to ensure harmless riding environment thereby scaling down shocking rate of accidents on the roads. The United Nations Global Ministerial Conference on Road Safety in its third forum held in Sweden in February 2020, issued a fresh mandate, asking all nations to cut down road accidents by half before the end of 2030. This contribution by Proedge and other stakeholders is clearly a frontline role in helping to meet the global target and to change the orientation of tanker drivers. Participants described the forum as timely in the ‘ember’ months. This is hinged on the fact that last four months of the year trigger fears in some people, especially those who make frequent use of the roads. As observed earlier this is because of the high accident rate recorded on the roads during this period. This informs the reason why the FRSC and other critical stakeholders especially those concerned with safety of lives and property and overall human development undertake programmes desirable to make the roads safe at all times. Given the activities that peak during ‘ember’ months as a result of Christmas festivities, there is bound to be increased pressure on the roads. The mass movement, coinciding with heavy transport of goods and products, often take heavy tolls on human lives and the roads. During this period also, the preponderance of crop harvesting often necessitate increased presence of heavy duty vehicles on the roads, aside from others that similarly move petroleum products across communities due to insufficient rail system for proper distribution nationwide. It is only logical that extra vigilance and increased measures are needed to prevent the calamities that usually occur during these ‘ember’ months. This is more so as it is almost impossible to keep trucks and tankers off major Nigerian roads today, knowing that they are the main carriers of essential products as gasoline, liquid gas, food items and building materials across the country. These essential goods help drive the economic development of Nigeria. Agreed that accidents do occur across vehicular categories, those involving articulated vehicles are quite worrisome. The level of impacts and damages are usually vast and catastrophic and therefore call for great concern. The Executive Secretary, Major Oil Marketers Association of Nigeria, Mr. Clement Isong noted the efforts being put in place to nurture the taker drivers to ensure safer roads. He recalled measures to disallow tankers without safety valves from loading petroleum products at oil depots across the country with a note that the FRSC, Department of Petroleum Resources and the Nigerian National Petroleum Corporation are driving the campaign on anti-spillage with proper safety valves which prevent explosion after accidents. The Federal Government had, in the recent past, devised measures to enable transporters acquire new trucks to sustain the industry and reduce substandard vehicles. This, according to, Mr. Isong, was part of efforts to aid the reduction of accidents as modern trucks are fitted with air bags, automatic braking systems, internal and external cameras, satellite tracking device and other gadgets to reinforce safety on the highways. t6HBOXB XSPUF JO GSPN "CVKB

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#THISISNIGERIA -Feyi Fawehinmi

The Word on the Streets XXXIII: No Witches in CBN Edition

Source: Google

s they say about London buses — you wait 3 years for a TWOTS and then all of a sudden, 2 come along in quick succession. I was very privileged to be a guest speaker at The Platform this year and my talk was titled “A safe place to do risky things.” So many political and economic decisions are now so high-stake that experimentation is now close to impossible. But I hope that Nigeria can find that spirit and culture somewhere and somehow to seed the ideas that will guarantee a better trajectory. I joked to a friend that approximately 89.7% of all the protocol expertise that exists in Nigeria is inside pentecostal churches. I haven’t been a pentecostal church regular in several years so it was interesting being a guest once again. Being in the care of the Protocol Department of a church gave me a few things to think about. There was a professionalism, courteousness and seriousness in the way the guys went about their job that I admired greatly. From the ramrod straight guy with the distinguished looking salt and pepper hair who picked me up from the airport in Abuja very early in the morning to the guy who dropped me off (I’m leaving their names out so as not to blow their cover), all of them just went about their duty in a very non-flashy manner. This is important as nothing puts me off more than people doing protocol work waving their hands wildly or shouting while at it. I asked a lady what the size of the department was in relation to others in the church and if they were the largest and she said “noooooo, we are very small because we are very selective about who we admit, given the nature of the job.” After the event, someone asked if I noticed a fair complexioned slim guy at the event venue and I thought, yeah, I did see an unassuming guy standing around quietly that fit that description. Apparently that guy is the leader of the team.

Again, there was nothing about the way he carried himself that made him look like an Oga in the Nigerian context. If I want to complain about one thing for the sake of complaining, it will be that the people who looked after me were excessively courteous. Many people have opinions about the church, myself included, and its influence and role in Nigerian society. But I only have one question for you to ponder — how is the church in Nigeria able to get Nigerians to perform at such a high quality level, consistently, in Nigeria? I invite you to imagine the possibilities where the Nigerian government is able to get its army of civil servants to perform at a fraction of the level at which unpaid church workers regularly perform. Sticking with government and IT matters, I hung out with a couple of guys in Abuja and an interesting conversation ensued, giving 3 unique perspectives around the table. To summarise, I was quite surprised at how difficult it is, in practice, to get civil servants to use their official email addresses. One of the guys has worked in government at state and federal level and has successfully gotten civil servants to use their official email addresses. Let’s call him BTDT (Been There Done That). Another guy works in IT and has thus done a lot of work implementing various IT solutions for government agencies and ministries. Let’s call him Engineer. Finally, one guy currently works in a government ministry. Let’s call him Seevul Savant. From Engineer’s perspective, the only way to get civil servants to adopt and use official email and IT is for the instruction to come from the very top i.e. the President. He thinks that the biggest problem is that civil servants believe that the government will read their emails if they use official emails which means that not only do they reject it, they actively sabotage any government IT

(they prefer to be spied on by Yahoo and Google). He gave a number of examples where a Director would call them and say some IT equipment is not working and he would eventually go out to check and discover that someone had disconnected it from the wall or socket. Plugging it back in solves nothing since he would not have reached the car park before they disconnect it again. But BTDT said you need not go that far. As a practical example of something that worked for him, he simply told civil servants that their payslips would only be sent to official email addresses going forward. Apparently civil servants don’t joke with their payslips. For Seevul Savant, the issue is reliability and storage, a charge which the Engineer denied. Be that as it may, it is alarming the amount of official government business that is done through Yahoo email addresses. Which of course means that they are the personal property of the civil servants which they take with them when they leave government. Overheard: Look, we in CBN are not witches. Most of the time we don’t even know what any individual company is doing. It is their competitors who are forever coming to report them to us. If I show you my phone, it is full of screenshots of people telling me their competitor is doing something illegal. Are you a screenshotter? Is this you? Stop it. But if you choose to continue, remember that, as the Bible does not say, one day the screenshotter shall become the screenshotted. I’m starting to hate Nigerian banks a lot. Not just dislike or irritation but hate. That is, the stage where everything someone or something does just annoys you. They are extremely profitable in a protected and easy market and they just cannot raise their levels even a tiny bit. Everyone complains about ridiculous

charges and debits by the banks but they just carry on and leave the customer to spot their sleight of hand. Some years ago, a very senior bank executive told me that whenever he had some time to kill, he would go through his old bank statements and recalculate the COT charges manually. Without fail, he would always get back a couple of hundreds of thousands of naira in charges once he complained to the bank and showed them his calculation. What kind of business model is this where actively robbing your customers is a normal Monday to you? I hate it all. Anyway, they said I should tell you people that the chances of you getting a President Emefiele and Vice President Malami in 2023 is significantly greater than zero. If this is your cup of tea, you don’t need to do anything. Just sit back and wait with glee. Ask me no questions and I will tell you no lies. Sometimes you just see stuff that makes you alarmed. On my way out of Lagos, I got to the BA check-in desk at MMIA and a staff member (I think he was a BA staff) was checking documents for travellers before passing them on to another person to do the exact same thing. To my amazement, this guy was using what looked like his personal mobile phone to take photos of everyone’s passport biodata page, passenger locator form and COVID-19 test. For all I know, my passport details are on the mobile phone of some guy in Lagos now. Why? If the scanner is broken surely there is another way to do this? And that’s assuming you really need to take photos of them. I despair. Yewande Sadiku’s appreciation: You’re appreciated. You are. I’m sorry that you suffered serving your country and I wish that you didn’t. I desperately want to say it was all for some greater cause or some deeper hidden meaning. I fear it was just that – gratuitous, pointless. But it’s okay. - Feyi Fawehinmi is an accountant, photographer and published author

THURSDAY NOVEMBER 4, 2021 • T H I S D AY

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In Collaboration with Industry Stakeholders, NCC Promises to Drive New Frontier for Digital Economic Growth

Emma Okonji The telecoms industry regulator, Nigerian Communications Commission (NCC), has assured Nigerians of its renewed commitment to collaborate with industry stakeholders in focusing on the next frontier for the telecoms sector and come up with ideas on how best to drive the new frontier in order to ensure consistent digital economic growth for Nigeria. The Executive Vice Chairman and CEO of NCC, Prof. Umar Garba Danbatta, gave the assurance in

Lagos during a special telecoms summit, organised by Compact Communications Limited, in commemoration of 20 years of telecoms revolution in Nigeria. Danbatta who was represented by the Director, Public Affairs at NCC, Dr. Ikechukwu Adinde, said: “First, as a foremost telecommunications regulatory agency and consistent with our mandate as enshrined in the Nigerian Communications Act (NCA), 2003 and other guiding legislations, the NCC has always been at the forefront of leveraging latest technologies to put Nigeria on the

global map of the digital economy. The NCC has been working to ensure increased broadband penetration in line with federal government’s targets as contained in the Nigerian National Broadband Pan (NNBP), 2020-2025, launched by President Muhammadu Buhari in March 2020. Some of the key targets of this national policy document are to ensure a 70 per cent broadband penetration to at least 90 per cent of the population. It also seeks to achieve broadband speeds of 15Mbp and 25Mbps in rural and urban areas respectively over the next five years.”

According to Danbatta, NCC would collaborate with industry stakeholders to sustain those initiatives and to also drive new initiatives in ensuring deployment of Fifth Generation (5G) Mobile Technology in Nigeria, with a view to having an enhanced digital economic growth for Nigeria. “With the emergence of technologies such as 5G, which offers enhanced Mobile Broadband (eMBB), Massive Machine-Type Communication (mMTC) and Ultra-Low, Ultra-reliable Latency Communication (uRLC), there is

already a platform that would bring succor to our connectivity challenges if the requisite policy, frameworks and infrastructure are put in place. “The Commission recognises that emerging technologies such as 5G, Internet of Things (IoT), Cloud Computing; Quantum Computing Augmented/Virtual Reality, among others, are already playing a critical role in improving remote communication over the internet with great user experience globally. This explains why NCC has seen the need to promote the use of these emerging technology trends for great

economic development in Nigeria,” Danbatta said. This, to us, is the next frontier for the sector. While emerging technologies are disruptive by nature, Nigeria cannot afford to lag digitally behind and this explains why the commission is engaging in developmental regulations for the industry and we are irrevocably committed to this, Danbatta further said. Former Executive Vice Chairman of NCC, who is currently the Board Continued on page 26

Nigeria’s PR Agencies Targets Large Chunk of $93bn Global PR Market Raheem Akingbolu Ahead of the projection that by the end of 2022, the Public Relations industry is expected to surpass $93 billion, PR agencies in Nigeria appear set to double effort to increase their billings to become strong contenders in global rating. The global PR market was worth $63.8 billion in 2018 and has continued to be on the increase despite global challenges.

Experts believe the disruption caused by the COVID-19 has toughened global agencies, including those in Nigeria and prepared them for the task ahead. In a telephone conversation with THISDAY, a former President of the Public Relations Consultants Association of Nigeria (PRCAN), Dr. Phil Osagie said he was optimistic that Nigerian PR practitioners would contribute meaningfully to global economy.

However, he called for more insight and professionalism. “I’m not in doubt that things would look up for PR industry in Nigeria because more than the past years, the awareness about what PR is capable of doing positively for the economy is on the increase. What do we need? Deeper skills, subject expertise, service harmonization to global best practices, and access to current research data will support Nigerian agencies and businesses in

making a more significant inroad into the gigantic but highly competitive global market,” he stated. According to the 2020 edition of the Nigeria PR report, over 50 per cent of public relations (PR) agencies in Nigeria are said to be reporting revenues of less than N5 million yearly. As a result, agencies were tasked to think outside the box to mitigate the current challenges. The report, which was packaged by BlackHouse Media (BHM), a

public relations firm, was dedicated exclusively to chronicling data on trends, perceptions, challenges, and prospects within the dynamic industry. A cursory look at some of the findings from the report showed that the insights presented are prognostic at the very least, creating a framework for practitioners to successfully manoeuvre these momentous times brought about by the outbreak of the COVID-19

pandemic. The report also revealed that younger agencies under five years old seem to have a higher proportion of men with women comprising only 21 per cent of women PR professionals working in these agencies, while older agencies that have been practicing for 11 to 20 years parade 44 percent of women professionals as their staff. Continued on page 26

ATAAASSAT ATWWE EDDNNE ESSDDAY, AY,NAOUVGE UMSBTE R 1 13, , 22002211 MMAARRKKE ET TDDATA ONNDDSS FFGGNN BBO DESCRIPTION 11.668 FGNSB 10.296 15-AUG-2021 13-NOV-2021 10.301 FGNSB 13.390 16-AUG-2021 14-NOV-2021 11.150 FGNSB 9.091 FGNSB 11-SEP-2021 11-DEC-2021 12.364 FGNSB 13.402 12-SEP-2021 12-DEC-2021 12.175 FGNSB 7.144 FGNSB 10-OCT-2021 15-JAN-2022

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26-Aug-21 NTB 11-Nov-21

3.00 3.74

3.00 0.00 0.00 3.74

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

AUG 24 25 2021 420.93 NGUS NOV

SEP 29 2021 422.38 NGUS DEC

OCT26 272022 2021 423.83 NGUS JAN

3.26 0.00 0.00 4.22

NOV23 242022 2021 425.28 NGUS FEB

3.37 0.00 0.00 4.31

DEC 29 NGUS MAR 302021 2022 426.73

CCPs Ps MATURITY

Discount Discount Yield Yield Change Change(%) (%)

MREP CP CP XVII XXXI CMBL 13-AUG-21 15-NOV-21 UNCPCP CPIII III1627FSDH AUG-21 NOV-21 VAAG CP XIV I 27-25NBRP AUG-21 NOV-21 TTNGCP CPIA II 31PARP 26AUG-21 NOV-21 SIBP CP 2-SEPPARP CPIIB 2621 NOV-21

9.02 5.70

9.03 5.71

0.00 0.00

4.26 7.06

4.27 7.08

0.00 0.00

10.20 6.57

10.25 6.59 0.00 0.00

4.59 9.29

4.60 9.35

0.00 0.00

4.13 6.71

4.14 6.74

0.00 0.00

THURSDAY, NOVEMBER 4, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

GREATER LAGOS FIESTA…

L-R: Commissioner for Tourism, Arts & Culture, Pharm. Uzamat Akinbile-Yusuf; Deputy Governor, Lagos State, Dr Kadiri Obafemi Hamzat; Chairman; Lagos State House of Assembly Committee on Tourism, Arts & Culture, Hon Fatai Oluwa, and Permanent Secretary, Ministry of Tourism, Arts & Culture, Princess Adenike Adedoyin-Ajayi at the PHOTO: ETOP UKUTT unveiling ceremony of 2021 Greater Lagos Fiesta in Lagos… recently

Nigerian FinTech Develope App to Transit One Million Employees into Self-employment, Job Creators Emma Okonji Servo Savvy, a local Fintech player in Nigeria has developed an app that could transit over 1 million employees that are in paid employment, to become successful self-employed people and employers of labour, within a short period of time. The app, known as BipEDGE, is the employee’s solution to move successfully from paid employment into self-employment. The app, which was launched this week at a media conference in Lagos, can be downloaded from the Google Play Store. It runs on a dual Fintech and Edutech platforms, and it is available as a user-focused, mobile-friendly application, giving each user the map, the tools and the support they need to make that critical transition from being an employee to becoming an employer of labour. Speaking at the launch of the app, the Founder and Managing Director of Servo Savvy, Mr. Timothy Ikhide, said: “BipEDGE has come to make transiting from paid to self-employment not only possible but easier. Three out of every five employees today are interested in leaving employment but cannot except by force. BipEDGE has come to give employee the power to choose to either leave or stay in paid employment.” Ikhide listed four key features about BipEDGE that could transform the workplace and create successful self-employed workers

who would become future job creators. The key features include: Transitional roadmap, Savings opportunity, Transitional training and Consultant engagement. Giving full details of the key features, Ikhide said BipEDGE would give that hand-holding, needed to make a smooth, successful transition into self employment; a roadmap that makes planning your transition easier; access to saving specifically for business start-up; the training,

direction, guidance and tools needed to make that successful transition and a safe and smooth in-app transaction and interaction, among others. Co-founder and Director, Marketing and Communication, Mr Ubong Ibanga, said: “This is a timely entry for retirees, employees and all who want to move into paid employment, with the growing focus on entrepreneurship all over the world and in Nigeria specifically. BipEDGE will give major boost and increase the

entrepreneurship, considering that SMEs have been contributing 48 per cent of the Nigerian GDP for the past five years, according to the National Bureau of Statistics (NBS). A recent PWC SME survey, also reports that SMEs account for 96 per cent of businesses and 84 per cent of employment in Nigeria. This means that BipEDGE will be a major boost to increase the positive impact of entrepreneurship and SMES in Nigeria and across Africa.” According to Ibanga,

employees who plan to retire soon, could have this platform very useful. They could take this opportunity to deal with those fears stopping them move into self-employment. “For employees who have found it difficult to start their own business to the point where they can actually be paid by same, they can kiss that difficulty goodbye, by downloading the BipEDGE to begin a successful transition journey,” Ibanga said. He further said Servo Savvy

had built relationship with micro finance banks that could assist workers in saving and in accessing loans to begin a desired business. “Go ahead and download the application from the Google Play Store, create a profile in less than five minutes, get verified, create your roadmap, start your savings plan, get trained and prepared to transit,” Ikhide advised workers in paid employment that are interested in managing a successful business.

KongaPay Projected to Reach 3 Million Subscribers By 2022 Emma Okonji KongaPay, a Central Bank of Nigeria (CBN)-licensed fintech platform, is on course to grow its active subscriber base to over 3 million by 2022, according to data released recently by the company. The mobile money platform, which provides digital services for e-commerce shoppers in Nigeria, is one of the thriving subsidiaries within the Konga Group, Nigeria’s e-commerce giant. According to the released data, KongaPay was recently repositioned to take a greater share of the payments market in Nigeria, a development that has seen the platform taking the fintech space by storm. The move has seen KongaPay – which has witnessed an astronomical 400 per cent rise in adoption, growing from about 272,000 to 1.1 million subscribers

within a space of less than three months and from a paltry 81,000 wallets at the point of acquisition in 2018 by the Zinox Group – now on its way to tripling its subscriber numbers in the next one year to over three million. The management of KongaPay is also targeting an ambitious growth in active usage by 25 per cent in 2022. The fintech platform has not only expanded its suite of offerings but is equally set to roll out additional smart features of great products and services offerings, a point further espoused by the Vice President of KongaPay, Isa Aliyushata. ‘‘KongaPay is set to take a greater share of the market, in line with the exciting offerings on the cards which we are set to unveil soon. We have not only enjoyed greater engagement and increased transactions from our

existing subscribers but have also seen a huge leap in adoption by new subscribers. ‘‘KongaPay is currently growing at a rate of 400% month-onmonth and we are envisaging our subscriber base to hit and possibly exceed the three million mark by 2022. This is all down to the hard work still ongoing behind the scenes to make KongaPay the payment platform of choice for millions of Nigerians, the loyalty and confidence we have enjoyed from Nigerians, as well as the smart features and additional products and services we are adding to our growing bouquet of offerings. As we continue to take pride in our great vision to constantly solve the challenges of the payment ecosystem globally, KongaPay remains relevant in the minds of its customers with great innovation and hybrid technology solutions,’’

Aliyushata said. KongaPay was recently identified by Statista, a globally renowned market and consumer data firm, as the leader in providing e-payment services for e-commerce transactions in Nigeria and a foremost enabler of online shopping in Africa’s biggest market. KongaPay offers a long list of services to subscribers including cardless withdrawals for all banks in Nigeria, money transfer to individual accounts or various accounts at once, receiving payments from customers, creditors or benefactors through a variety of means, airtime purchase from various telcos or network providers such as MTN, Airtel, Glo and 9mobile, among others. It also offers payment for or renewal of internet subscriptions, recharge and payment for electricity digitally, renewal of cable TV

subscription including DSTV, GOTV, IrokoTV, among others, including payment for flights, travel and hotel accommodation, funding of sports betting, lottery and gaming accounts, while also functioning as a mobile money wallet. Launched in 2015, KongaPay debuted as a pilot product in partnership with Nigerian commercial banks in response to concerns expressed by customers about the confidentiality of their details while trying to make payment for products on the Konga website. Since inception, the platform has grown immensely and under the drive of the new management of Konga, is leading the new-found appetite for digital payments among e-commerce patrons and other subscribers, processing tons of transactions daily.

IN COLLABORATION WITH INDUSTRY STAKEHOLDERS, NCC PROMISES TO DRIVE NEW FRONTIER FOR DIGITAL ECONOMIC GROWTH

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

Chairman of MTN Nigeria, Dr. Ernest Ndukwe, who personally delivered the keynote address at the telecoms summit, said the successful conduct of the spectrum auction for the three Digital Mobile Licences (DML) on offer by the NCC during his tenure in 2001, set the right path for mobile telephony and digital transformation in Nigeria. According to Ndukwe, “Three operators, Econet, a consortium of Zimbabwean and some Nigerian

businessmen; MTN, a South African mobile company; and Communications Investment Limited (CIL), a Nigerian company; emerged successful in the bidding process with the bid price of $285 million each for a 15-year operating licence and with a five-year exclusivity period. The fourth licence was reserved for the incumbent operator NITEL and its mobile subsidiary M-TEL, which also paid $285 million for the licence. Each licensee was also required

to achieve a subscriber base of at least 1.5 million lines by the end of the 5-year exclusivity period. CIL eventually was to forfeit its licence after failing to pay the bid amount within the mandatory deadline. The licence was later re-auctioned as part of the Second National Operator licence in 2002, which Globacom Ltd, a Nigerian company won at the bid price of $200 million.” Speaking about the socio-economic impact of the telecoms revolution,

Ndukwe said the Nigerian socioeconomic landscape had been greatly transformed through the telecommunications sector in the last two decades. He therefore called on government across board to sustain the achievements recorded so far in the telecoms sector. “For the future and to sustain the progress made in the industry it will be critical for government to continue to maintain stability in the

policy and regulatory space. The high investment levels that have been attained in the sector, was not because Nigeria suddenly became one of the most desired investment destinations for ICT in Africa or because of its large population. The massive inflow of investment was largely because of the stable policy and regulatory regime that the industry enjoyed since 2000. This must therefore be maintained,” Ndukwe said.

new entrants, it is reported that 64 per cent of the new agencies have fewer than 10 employees, 14 per cent are small enterprises with 11 to 20 employees, and 22 per cent with more than 21 employees. The report listed one of the top five challenges plaguing the sector as attracting and retaining the right

talent, with about 70 per cent of the professionals having less than five years of work experience. Consequently, seasoned professionals and institutions are charged to explore establishing teaching faculty in PR management to equip new graduates seeking career opportunities in PR.

NIGERIA’S PR AGENCIES TARGETS LARGE CHUNK OF $93BN GLOBAL PR MARKET This situation is not limited to Nigeria. In a report published on the PRWeek in 2019, 64 per cent of PR professionals surveyed in 37 countries in the first Global Women in PR(GWPR) Annual Index to address issues in gender diversity believe having more women in the boardroom would improve

profitability. About 81 per cent said more should be done to help women get there, while eight in 10 survey respondents believe the biggest barrier to career progression was childcare and caring responsibilities. Further, the report revealed that most of the PR agencies are within

the SME band, with 64 per cent of respondents qualifying by the number of employees as microenterprises based on the number of employees as defined by the Small and Medium Enterprises Agency of Nigeria (SMEDAN). In terms of poor revenue earnings, also corroborated by the

THURSDAY, NOVEMBER 4, 2021 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Ademola: Nigeria Needs Accessible, Cost-effective Digital Banking Services Managing Director, Branch, a digital banking services provider, Dayo Ademola, speaks about Branch’s expansion into full digital banking services provider and other industry isuues. Emma Okonji presents the excerpts: What is Branch all about, its service offerings, application and entrance into the Nigerian market? ranch is a financial services app, which started out as a quick loan app essentially a digital lender. We have been operational in Nigeria since 2017 and operational globally since 2015. Branch basically is available in three regions – Nigeria, East Africa and India and we are headquartered out of San Francisco in the US. Like I mentioned earlier, we started off the business as a digital lender, but particularly here in Nigeria and eventually all our markets, we are expanding into full digital banking services. Here in Nigeria, in addition to lending, we offer a 20 per cent annual investment return, which is one of the most competitive rates in Nigeria. We have flexible investments where customers are able to withdraw their funds at any time as needed, but we also have fixed investments. We pay out 20 per cent annually and the accrued interest is paid out to our customers weekly. In addition to that, we have a wallet feature on the Branch app that allows customers to do P2P transfers – so a customer can transfer to any customer within and outside Branch, in any financial organisation in Nigeria. Customers are also able to make bill payments such as internet bills, airtime purchase, pay cable bills, buy electricity vouchers and so on. Customers are able to do all of these within the Branch wallet and all of these transactions are commission-free, which is essentially the value-add we provide to our customers.

Branch started out as a digital lending App and later expanded into a full digital bank. Can you tell us what the process has been in expanding into a full digital bank and what motivated the expansion plan? The process typically starts with upgrading our license. So, whilst we are fully licensed by the Central Bank of Nigeria (CBN), as a finance company, we are also looking to upgrade our license as we go along. As a finance company, we are able to offer all these services that I spoke about earlier versus the money lender license we were previously operating under. This gives comfort to our users to know that we are fully licensed and regulated by CBN. Another thing we have been able to do is to build user-friendly, value-added products, which are the typical banking products. For instance, customers need an account, a store of value, which is what our wallet offers. Customers need the ability to send money to other customers whether they be within Branch or in other banks or financial institutions in Nigeria. We then have investment products, which ables customers to save money and earn interest on that money to grow wealth. Thus, what we have done is develop these products and services that we are deploying to our customers in a cost-effective and easily accessible way. You said Branch had been in Nigeria since 2017 and globally since 2015. Can you speak about your market share and customer base, and how you intend to grow your customer base in Nigeria? Since commencing operations in Nigeria, we have given out over three million individual loans in Nigeria, some of those are repeat loans to the same customers, and that is a good metric to understand the size of our customer base. The growth of our customer base, which continues to increase daily, particularly as we are in recovery mode after a severe slow down because of COVID-19, is simply because customers see value in the products that we bring to them and the more we are able to share that story, the more customers use our products - be it our loan products, investments, wallet, bill pay or transfers. They see value, they see user-friendliness and they also get great customer service from us at Branch. So that is what helps us grow and scale our products as well as grow our customer base in Nigeria. Most Nigerians are skeptical about carrying out digital payments because of the ﬁnancial risks involved. How will Branch encourage and address the fears of such customers about the usefulness of digital banking? Well, the first thing I will push back at, is that I don’t think the skepticism runs as deep as we sometimes think it does. Our engagement with our customers has actually proven that the skepticism isn’t necessarily for digital versus brick and mortar banking. The skepticism is in trusting the organisations themselves. So what we have done at Branch is to go about building that trust day-on-day with our customers. There are a lot of FinTechs around today and a relatively small portion of them are actually licensed and regulated by the Central Bank of Nigeria. We are regulated with the

Ademola same parameters as any commercial bank by the CBN. Before you can get to the point where you are regulated by the Central Bank of Nigeria, there are certain things that needed to be put in place, and that is the first thing we do to prove our credibility to our customers. The second thing is if you examine our backers - the investors in Branch internationally, you will notice the kind of names we are associated with like A16z, which is Andreessen Horowitz and Visa International. A16z are the funders and backers of some of the largest and most successful tech companies in the world including Twitter, Facebook that recently changed its brand identity to Meta, and a bunch of other companies. Also, everybody knows Visa International, the financial services company. A lot of people have Visa credit cards or debit cards in their wallets - these are the caliber of investors that have backed and have staked their claim on an organisation like Branch. That gives our customers comfort to know that we are doing the right thing and will not disappear with the funds that they have entrusted us with. The third thing is that we have built a reputation as being one of the most ethical and customerfriendly lenders in this market. As we have gone about lending money to people, we are also an organisation that does not engage in sharp practices when it comes to our loan recovery methods, i.e., sending text messages to people in your contact list, sending nasty messages, charging you late fees, among other. For us at Branch, first of all, we do not charge any late fees for our loan repayments, we will never contact anybody on your contact list, we will never send you unpleasant or harsh messages asking you to repay because at the core of our company is an ethics. So doing this year-on-year, month-on-month, week-on-week, and day-on-day, we are continuing to build our customers’ trust and that’s how I believe we can overcome whatever skepticism exists. Like I said, I think that’s where the real skepticism lies and not necessarily a pervasive skepticism of brick and mortar versus digital banking, particularly given the demography in which most of our customers sit because they are already digital natives so they are used to doing a lot of things via their phones or their computers. You have been in Nigeria for some time now and you understand the digital space in terms of banking, but despite the payment channels available to Nigerians for digital transactions that will make us embrace a cashless economy, Nigeria is still regarded globally as a cash-based economy. How can

Branch change this narrative? I can answer that question a couple of ways. The first thing I will say is that the onus doesn’t necessarily sit with private organisations like ourselves to completely solve that problem. Let me define for you who we envision our customer base to be – our customer base is not the unbanked, because our business model does not necessarily cater to solve the issues that keep people unbanked, which ranges from accessibility to digital devices and internet to much lower-income levels that are at play in certain areas. These are issues that Branch is not equipped to solve and that’s not where our business model lies. There are a lot of people working today whose business model is to solve those problems but it’s not ours. Our customer base is the underbanked – which actually brings me to another issue that keeps people unbanked, which is digital identity – having access to getting a Bank Verification Number (BVN) to identify who you are digitally. Our customer base really is the underbanked people who have a BVN or some other form of identification, they have a bank account, may be just a savings account but are essentially locked out of the rest of the full suite of banking services. These people don’t have access to credit because your typical commercial bank today will not necessarily lend to them because they are not employed or they might be self-employed and they are small business owners. They don’t have access to investment products that give them good returns on their hard-earned money because again the focus of most commercial banks is for wealthier customers and the cost of accessing these products is just too high for a certain level of Nigerians. Then you look at things like buying airtime, transfers and trying to pay bills, commissions are charged for all of these transactions. So, all these banking products become unreachable for these people and that is Branch’s sweet spot. To be able to say: You are a digital native; you are technically banked but are actually severely underbanked That’s our target audience. You are able to build your credit score with us as an organisation as well as meet your short-term financial needs by having access to credit that you won’t get from a commercial bank. Our target is bringing banking services that are typically reserved for the wealthy in Nigeria to the average Nigerian; that is where we operate and that is the impact that we are making. What are the speciﬁc products and services that Branch offers and how will these products and services impact on the Nigerian economic? Just to list out a couple of our products and services – we have Unsecured Lending, meaning we are able to give unsecured loans to people, with no collateral required and very limited paperwork involved. You download the app and fill out what you are asked to fill out to apply for a loan and if it is approved, your loan is disbursed to you within a matter of minutes. Secondly, I mentioned we have an investment product which gives customers a return of 20 per cent per annum and not only that, we are able to pay out your interest to customers every week. So, every Monday morning, customers will get their accrued interest for that week paid into their investment account. With this, customers are able to watch their funds grow on a weekly basis. The third product that we have is a Wallet product which I described as a store of value that customers can keep funds in. With the funds in the wallet, customers are able to perform person-to-person transfers either with another Branch customer or anyone with any financial institution in Nigeria, as long as they have an account and an account number. These transfers are also commission-free, which means if I need to send N1000 to a customer, the N1000 will be deducted from my wallet and the customer will receive N1000. Also with customers’ wallets, they are able to pay their bills, and there is a full list of bills on our platform whether it’s airtime, electricity or cable. The other really cool thing is that we are continuing to innovate on our products, so we have new features coming out as we hear back from our customers, as we continue to improve our products. We also have a product road map for future releases and we will be releasing debit cards soon so that people will be able withdraw physical cash.

How I see it impacting the Nigerian economic initiatives is this – like I mentioned earlier, the more we are able to pull people into the banking system, by giving them a full suite of products, the more value they are able to have. For instance, when we are talking about Nigeria’s cash economy, and if a 26-year-old small business owner needs to borrow some money to help fund his/her business, they will typically have to go and borrow cash from somewhere else because the regular bank will not give out the loan. However, if people get a loan from institutions like Branch, they will be able to build their credit score with us, which will help pull more people into the digital economy. They are also able to be less reliant on physical cash, which in turn helps with our drive for a cashless Nigeria. People are also able to grow their business as well as income which, then again, has an impact on everything from the Gross Domestic Product (GDP) of the country, down to people being able to pull themselves into higher income brackets within the country. Let’s take a look at SMEs. What is your support for SMEs and Start-ups in Nigeria? Our products are geared towards individuals, so we are a full retail solution. What we do find is that quite a huge chunk of our customers, while they are taking out personal loans from us, are using those funds to help grow their businesses. We are not optimised to lend to businesses directly, for instance “Dayo and Sons LTD” cannot apply for a Branch loan but Dayo as an individual, can. At this point, we are a full retail solution, but we do know that – and this is from heavy engagement with our customers. We do know that the credit we give to our customers is being used to build their businesses so we have an indirect impact but we do not lend to SMEs directly. Can you brieﬂy talk about your background and your role at Branch? My name is Dayo Odulate Ademola and I am the Managing Director for Branch in Nigeria. My experience has largely been in Technology and Financial services. I have worked for a few technology companies in the US and here in Nigeria. On the financial services side, I have worked in the banking industry first in strategy and later, retail banking. I managed a FinTech investment fund for a Social Impact Organization called Enhancing Financial Innovation Access (EFInA). That is the synopsis of my career before joining Branch earlier this year. My role at Branch is to manage the business in Nigeria and manage its function across the region and also to lead and grow the Nigerian business. That is a short summary of my role here in Branch. With your position as the managing director of Branch since February 2021 and with your background in technology, what are the innovations you are hoping to bring to the Nigerian market? Branch’s main goal and the centre of our business is that we innovate around our customers and what it is our users need and how we can best possibly serve them. Branch does not release a new product or feature without doing any extensive research and by extensive research, I mean we go as far as physically meeting with our customers to find out what their needs are, to understand what the blockers are. We often find out that the stigma of borrowing from friends and family to start a business is what many of our customers want to avoid. So, we are bringing out products that actually solve problems and that is why our tagline is “Branch is better than your Bank”. We do not just say that, we have the facts to prove it. What are some of the online security tips that you will like to give to your customers that will enable them to stay protected online? For starters, I will say – make sure your phone is password-enabled. Secondly, make sure your SIM card is also passcode-enabled, meaning that if you put the SIM card into another device, it will request for the passcode. The third tip is do not share your personal identity number (PIN) with anyone, whether it is the PIN for your phones, cards, passwords to your Branch app or to any other banking app you have. Ensure the PINs are unique and you are the only person that knows them. The fourth thing is do not share your details with anyone. One of the biggest scams in Nigeria is receiving strange phone calls - even I have gotten such phone calls before, requesting for your passcodes. There is no legitimate financial institution today in Nigeria that will ever make a phone call to customers, send a text message, WhatsApp message or an email, asking the customer for sensitive information. It will never happen, so those are the main things I can say and advise customers on.

THURSDAY NOVEMBER 4, 2021 • T H I S D AY

T H I S D AY ˾ THURSDAY, NOVEMBER 4, 2021

BUSINESSWORLD

PERSPECTIVE

Akwa Ibom: Getting Spot on International Tourism Map George Bassey

rowing up, the only tourist attraction in Nigeria given global recognition was Yankari Games Reserve of Bauchi State in North Eastern region of the country. However, poor management over the years made it lose its appeal and rating. Despite huge investments at revamping the Reserve by successive administrations in the state by Adamu Mu’azu (1999-2007) and Muhammed Abubakar (2015-2019), Yankari as it’s fondly called is still struggling at reclaiming its old status as increased level of insecurity which has plagued the north east region of the country continues to cause a huge risk to the tourist destination. Sadly, the huge investments on the facility has become challenged at recouping. Other sites, national parks and forest reserves such as Olumo Rock, Ikogosi waterfalls, Erin-Ijesa hills and Obudu cattle which could have retained a spot for Nigeria on global tourism map have also suffered poor management, infrastructural deficit, mundane practice, unconducive environment and insecurity. In an extremely impressive demonstration of forward thinking, the Udom Emmanuel-led administration established Ibom Air not being unmindful that tourism thrives on aviation as it is the most important investment towards attaining enormous tourism strength with huge economic benefits as evident with countries like Kenya, Morocco, Ethiopia, South Africa, and United Arab Emirates. Nature had prepared Akwa Ibom for the new ambition with its apt description as Nigeria’s best-kept secret treasure and a land of promise from testimonies garnered across the public. Some also describe it as a piece of God’s own real estate carefully hidden at the bottom of the map of the country, bordering the Atlantic Ocean and providing a strategic gateway for the country to any part of the world. One can say, Akwa Ibom state is the safest place in the country defined by beautiful scenery all through the stretch of the geographic boundaries, and the people remain the best resource of the land, they are industrious, intelligent and

Governor Udom Emmanuel of Akwa Ibom State remarkably hospitable. You must agree these are the much-needed attributes for a great tourist destination. In preparation for its new status, the State’s House of Assembly passed a Bill to establish the State Tourism, Arts and Culture Endowment Fund (AKSTACEF) into law. A commitment

that will dedicate funds to the repairs of major tourist attractions across the state and promote new ones. When Governor Emmanuel assents to it, there will be no shortage of funds and will to maintain historical and tourist sites such as the Amalgamation House, the residence of Lord Lugard, the colonial governor who

amalgamated the northern and southern protectorates in 1914 and Oron National Museum and Beach towards positioning the state for Toursim growth. In furtherance of this ambition, the Akwa Ibom state government has affirmed it shall be issuing certificate to some 5000 tourism companies with the aim of onboarding and validating their operations in the state tourism sector. With the activation of the Tourism Information Desk at the state-owned Ibom Airport, tourists will have guides to facilitate to the iconic sites and monuments. It is expected that this will provide the needed information to all travelers and tourists coming into the state thus stimulating local business patronage, macro and micro economic stimulation. The Governor’s commitment to promoting more locations such as Godswill Akpabio International Stadium, the 21-storey Smart Building, Ibom Golf course and other heritage sites speaks to the importance placed on tourism for the edutainment pleasure of visitors and indigenes alike. It also reiterates the potential impact and value such initiatives has on the local economy and prosperity of the state whilst getting the country back on the world tourism map with the State. Indeed, this agenda is also well supported through the mobilization of residents across the state irrespective of ethnic, political and religious sentiments further anchored by the Peace Maintenance Movement formed by Barr Emmanuel Enoidem. Enoidem through the pan-Akwa Ibom movement has been mobilizing citizens on the need to preserve the enviable peace within the state through civil and hospitable interactions as contribution to the success of the current administration. Without a doubt, Ibomites are also not unmindful of the personal and economic growth the industrialization agenda and quest for global recognition as a tourist destination avails them for which they are ready to play host to the rest of the world through their cuisines, friendliness and warmth. According to Ekerete Ifiok a Tourism and hospitality sector stakeholder, Ibomites have elected to preserve the Udom Emmanuel’s legacy through their resolve to maintain peace, as Tourism only thrives where there is serenity. t (FPSHF #BTTFZ XSJUFT GSPN 6ZP

Making Mobile Ofﬂine Data More Savvy Raheem Akingbolu reviews the Global System for Mobile Communications (GSMA) estimation, which puts mobile subscriptions in Africa at 850 million, with a meager 300 million internet users in 2020 and maps out how mobile offline can be more useful in the continent.

frica has a diverse population of 1.2 billion people. According to the Global System for Mobile Communications (GSMA), there were 850 million mobile subscriptions and only 300 million internet users in 2020. The GSMA also report that by 2021, there will be 500 million mobile internet users in Africa - It is clear that Africa is still predominantly an offline market, a fact that marketers must be mindful in developing their marketing strategy and campaigns. This distinctive feature of the African consumer market being more offline than online is evident in the ways some brands offer their products and services to consumers, across various sectors. For instance, in Nigeria, all top tier banks offer various services such as account opening, payment transactions, airtime purchase, utility payment and even loan requests via Unstructured Supplementary Service Data (USSD), an offline mobile channel - making their services available to a much wider consumer base than the limitation of their App, which requires consumers to be data subscribers. In the last quarter of 2020, N1.63 trillion was transferred by Nigerians via USSD, while online transactions were 569 million by the end of Q3 2020. A key point to note on online subscriber data usage on the continent is that it could be misleading. This is because, as a result of the high cost of purchasing data, some online subscribers buy data to use only at specific times i.e. switch on and off when not in use. For instance, a mechanic with a data plan would switch it on to notify his client to pick up his vehicle to avoid a paid voice call or even SMS costs. Therefore, although he can be qualified as an “online subscriber” the most effective way to engage him may not be online. Therefore to thrive, Brands must learn to take full advantage of the basic offline channel ie SMS to reach and engage the African consumer.

BULK SMS FOR CUSTOMER ENGAGEMENT

Using SMS to engage customers is nothing new; since the launch of GSM services, “Bulk SMS” has been a way for Brands to reach customers. Bulk SMS involves the dissemination of messaging to a large number of mobile subscribers. However, due to the

pervasiveness of the channel it has been abused by unscrupulous Brands and digital agencies who frequently spam customers with irrelevant and unwanted messages constantly, inadvertently leading to negative brand experiences and frustrated customers. For instance, a Muslim would not appreciate being bombarded with messages urging him to try out the latest alcoholic beverage offered by an FMCG company. So how can we make offline mobile data more “intelligent”, help brands enable hyper-targeted customer engagement and give customers the sort of meaningful experience they desire from brands?

DATA-POWERED MARKETING TECHNOLOGY

The answer lies with data-powered marketing technology platforms (such as Terragon’s Customer Data Platform (CDP) - TerragonPrime) specifically made to cater to this peculiar need, within the strictest forms of data privacy. It is a platform that enables a data supply side on one hand and a business demand side on the other.

It has a data supply side, which aggregates data from sources and provides the most relevant and useful data sets of consumers at scale i.e. telcos, and a business demand side which Brands are able to leverage to gain relevant insights and reach their existing customers and prospects. According to experts, when such intelligence powered by Telco data is applied, Brands experience a higher rate of success and customer conversions because the customer fits the right target market/ audience for the brand’s product or service. It is also believed that the customer expects to receive messages from the brand while the brand is able to cross-sell and up-sell other products and services as there is a better understanding of who the customer is, their preferences and interest.

TELCO AND DATA MONETISATION

Telecom companies have an untapped asset in the torrents of customer data at their disposal which is exponentially rising every day - Data required by Brands to gain a better understanding of their consumers in order to deliver personalised engagements. Therein lies the opportunity for

both parties, an opportunity for Data monetization, which can be fulfilled through marketing technology (Martech) platforms. Over the past few years, Telcos have experienced an erosion of revenues from their traditional, core offerings i.e. voice and SMS, losing out to subscribers embracing instant messaging and internet-based voice and video calls such as WhatsApp (which recorded 2B active monthly users in 180 countries sending 100M messages a day according to WhatsApp’s 2021 Internal Data) Telcos have access to various range data sets including demographic, geographic, interests etc due to the types of service being offered, which could help Brands across various verticals (retail, financial services, FMCG, advertising, healthcare, public services, etc) understand their customers better, deliver hyper-targeted campaigns resulting in higher RoI and lower conversion costs. In the online digital space, Global Big tech companies monetize their data by helping Businesses improve their online advertising campaign performance, resulting in exponential revenues. Search engine giant Google, for example, made $146.92 billion in revenues from their advertising arm of their business in 2020 by processing tons of data and enabling personalized digital advertising for millions of businesses - small mom and pop shops to large multinational enterprises alike. This helps them to capture even more revenue than before. Similarly, Amazon develops algorithms that enable it to personalize online shopping to match customer interests. As a result, it generates per-user revenues that are significantly higher than those of its competitors. According to CTO, Co-founder, GrocerApp, Hassaan Sadiq, “We leveraged Amazon Personalise to provide product recommendations to customers on our apps using customer purchase data. With Amazon Personalise, we have achieved a massive 17% increment in the average order value, enabling us to fill customer orders immediately while increasing the overall basket size.” This is the way a number of digital-savvy and ambitious Telcos in Africa who currently engage the service of Terragon view the opportunity of data monetisation.

THURSDAY, NOVEMBER 4, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

TLP Advisory Goes Global, Set To Support Africa’s Tech Ecosystem Emma Okonji

NICArb 2021 Conference to Address Disruption in Business Landscape

navigating complex international regulatory hurdles and complying with corporate governance laws in global markets. TLP Advisory’s niche market experience and multi-territory expertise makes the journey far easier for founders embarking on expansion. According to a statement released by TLP Advisory, “Africa’s tech industry is projected to be worth $180 billion by 2025. During 2020 there was 44 per cent year-on-year growth in African startup fundraising, with 359 equity raises, totalling over $1.4 billion. TLP Advisory has been central to this progress and has advised some of Africa’s groundbreaking startups along with VC funds such as Ventures Platform. As the first startup and venture law firm in Nigeria, TLP Advisory has seen 300 per cent yearon-year growth and supports angel investors, venture capitalists (VC) funds, corporates and investment banks across additional markets

The Nigerian Institute of Chartered Arbitrators (NICArb) is set to hold its annual conference, themed: “Disruption and the New Normal in Arbitration/ADR in Africa: A Way Forward” this month. The institute’s Registrar, Shola Oshodi-John, made this announcement in Lagos recently. Oshodi-John said the focus of the Conference is geared towards addressing the effects of COVID-19 pandemic unexpected disruption in the arbitration and business landscape in such a way that threatens the survival of the practice in societies that are not technologically advanced. “The disruption has created a new narrative and a new normal with the advent of online dispute resolution, digital economy, online trade in goods and services amongst others. At the inception of the pandemic, everyone had thought that it would soon fizzle away and that things would return to the old ways. That expectation has long been dropped for the more pragmatic approach of fashioning a way forward in order to adapt to the disruption and harness the benefits of the resultant changes. According to the registrar, this year’s conference will be the first Hybrid Annual Conference held

L-R: Director: Corporate Communications & CSR, Airtel Nigeria, Emeka Oparah; Group Chief Executive Officer and Managing Director, Airtel Africa Plc, Segun Ogunsanya; Minister of Communications and Digital Economy, Dr. Isa Ali Pantami; Chief Executive Officer and Managing Director, Airtel Nigeria, Surendran Chemmenkotil and General Manager, Government Affairs, Airtel Nigeria, Kehinde Sanusi, during a courtesy visit of the Airtel leadership team to the Honourable Minister in Abuja... recently

TLP Advisory, a Nigerian legal firm that is focused on Africa’s tech industry, has announced its expansion plan into the UK, US and Canada, with renewed commitment to support the African technology ecosystem. Having worked with many of the continent’s rising technology companies, including Flutterwave and PiggyVest, TLP Advisory’s expansion will position the law firm as a key conduit between the continent’s technology companies and leading investor markets, enabling smoother capital flows between

the regions and providing African entities with dedicated advisory around international fundraising and regulation in Lagos, London, New York and Toronto. Established in 2014, originally under the name The Longe Practice, TLP Advisory has widened its capabilities to include the tech, media and entertainment industries, specialising in intellectual property, fundraising, and corporate structuring. Strengthened by its merger with US-based law firm, Ollis Law and registration with the Solicitors Regulation Authority (SRA) in the UK, the team now expertly guides African companies through

by NICArb to create a forum for users, experts and practitioners in Arbitration and other ADRs across sectors on the Africa continent and beyond, to discuss and proffer solutions in the wake of COVID-19 disruptions on how to improve the use and practice of Arbitration/ADRs to create an environment that attracts investment and investor confidence, and a roadmap for dispute resolution under the African Continental Free Trade Agreement (AfCFTA). “This conference seeks to, amongst other things, propose a viable way towards harnessing the benefits of the new normal for the arbitration and ADR community, with particular focus on the challenges of the African continent. “There shall also be a discussion on an overview of the current trends in the digital economy and their implications for consumer protection and competition policies. Speakers at the Conference will be opportuned to review emerging issues in consumer protection in electronic commerce (e-commerce), in particular, how it relates to legal and policy frameworks, consumer empowerment and business guidance, enforcement, dispute resolution and redress,” she submitted.

such as South Africa, Ghana and Kenya, and now the UK, US and Canada.” To support the growing and varying needs of its clients, TLP Advisory launched DIYLaw, its self-service legal tech platform, in 2015. DIYLaw recently introduced a digitized, B2B dashboard, which is a first of its kind in Nigeria, simplifying many of the processes required by Africa-focused entrepreneurs to set up and operate smoothly. The platform makes access to legal services simple and affordable through bulk functionality and smart API integrations with partners such as Prospa and Access Bank. DIYLaw automates over 20 activities such as company registration, employee documentation and non-disclosure agreements based on location and sector, reducing the legal administrative burden for growing startups. Co-founder and Lead Counsel at TLP Advisory and Co-founder

at DIYLaw, Odunoluwa Longe, said: “It is truly an exciting time in the African tech space, with some of the startups we worked with just a few years ago now on course for immense growth in and outside the continent. “We are thrilled to continue to offer a purpose-built legal services infrastructure to sustain the incredible trajectory of African startups through our on-ground expert services. We want to be the partner of choice for innovative African companies expanding overseas and international companies looking to protect and commercialise their intellectual property on the continent.” Corporate-Commercial Lead at TLP Advisory and Co-founder at DIYLaw, Funkola Odeleye, said: “We have really evolved alongside the continent’s accelerating tech ecosystem and as a firm we’ve facilitated $400m of investments over the past five years.

“We are expanding and scaling but retain our personalised and tailored approach to giving clients the best guidance in often difficult regulatory environments. This takes into account how innovation moves faster than regulation, and by creating a robust services sector we can ensure that clients operate without being in breach of existing regulations and are able to comply during complex cross-border operations.” Demonstrating further commitment to the sector, TLP Advisory were engaged as one of the two legal firms to draft the Nigerian Startup Bill, intended to become a one-stop shop for laws and regulations affecting entrepreneurs in the market. Their international expansion signals the continued growth of the African tech space, demonstrating that the firm is well-positioned to support companies and investors in new markets.

How I-invest Is PRnomics , Nigeria’s PR and Creating Investors from Economics Resource Hub Premiers Everyday Nigerians In line with the Central Bank of Nigeria’s financial inclusion target as well as to promote an efficient savings culture among Nigerians, I-invest, a mobile application is set to provided a secure and safe platform for millions of Nigerians at home and in the diaspora to invest in and secure their future. Developed by Parthian Partners, an organisation regulated by the Securities and Exchange Commission (SEC) and FMDQ, I-invest allows retail investors to conveniently buy and manage Eurobonds, Treasury Bills, Commercial Papers, Equities, and many more without the help of a broker on a secure platform. Speaking at a summit recently, founder of I-invest and Group Managing Director, Parthian Partners, Oluseye Olusoga observed that through the I-invest app, Nigerians are able to access a plethora of investments based on their risk appetite. He added that potential investors do not need banking officials, fill lengthy documents or spend valuable time in banking halls. According to him, a major objective of the app is to enable Nigerians secure their future through investment, an objective that very much aligns with this year’s edition of the Nigeria

Economic Summit (#NES27) themed, “Securing Our Future: The Fierce Urgency of Now.” The summit was held last week in Abuja. Olusoga said I-invest is leveraging technology for Nigerians to invest and build a savings culture. He pointed out the unique advantage of the App is the safety, ease-of-use and convenience, in addition to being regulated. “The #NES27 theme, ‘Securing our Future’ can be realised through saving and investing for tomorrow hence I-invest has been designed to allow users do this in the most seamless and convenient way, for not only the user but for dependants as well. The application is built by Nigerians to help Nigerians invest in Nigeria. He added that, “The impact of the application on the Nigerian economy is to create an environment where Nigerians are involved in the development of the country through their investments, instead of taking their money out of the country.” Olusoga explained that the app allows Nigerians to invest in different sectors of the capital market in both Dollar and Naira instruments; ranging from mutual funds to fixed deposits with different banks.

PRnomics, Nigeria and Africa’s first-ever combined public relations and economics digital platform and resource hub has been rolled out in the Nigerian and global market. According to the promoters of the platform, with access to exclusive communications intellectual resources and millions of research data, PRnomics will help its audience stay ahead in the new knowledge economy. They also pointed out that business leaders, communications advisers, professional writers, journalists and goal-driven

entrepreneurs will find PRnomics a priceless learning centre, providing the tools needed in their relentless pursuit of growth and career pinnacle. “It will be packed with business tips, PR how-to, communications tool kits, industry news, success strategies, game-changing ideas, and best-in-class Marketing case studies. “With researchers and contributors from key locations around the world, It will be the first PR Marketing publication in Nigeria and Africa to combine PR

and economics,” a statement issued by the promoters stated. The statement further disclosed that the different categories will help readers to narrow down their search and scope. They include but are not limited to Brands X-ray, Humor, Case Studies, Business Class, Curiosity, Resource Hub and Books. The Books section summarizes futuristic thinking and the latest business books that most leaders, professionals, and students in Nigeria would not have immediate access to.

The look and feel, tone and voice of the platform would all be in sync with the aspiration and peak expectations of its targeted demographics. It would be the unequalled Resource Hub for research-driven content, Nigerian case studies, strategy, processed thinking and market intelligence. PRnomics defined its mission as “helping professionals and businesses better understand the art and management of perception, as well as equipping them to develop compelling audience-centric content and smarter marketing campaigns.”

WIMCA 2021 Conference Moves to Resolve Marketing Challenges Experts in the business of brands and marketing communications in Africa gathered recently to chart a new course for businesses targeting female consumers, on how best to reach and engage them in these challenging times. They also proffered solutions on how the female gender can maintain a work-life integration in their quest to smash the glass ceiling that seem to prevent them from reaching their peak in their different fields. These were the key talking points at the annual Women in Marketing & Communications Conference/ Awards (WIMCA) held last Wednesday at the MUSON Centre, Onikan, Lagos. The theme

for this year’s conference, “Women in Leadership: Building a strong Professional PIE (Performance, Image, and Exposure)” was crafted in line with this year’s theme of the International Women Day (IWD): “Women in leadership: Achieving an equal future in a COVID-19 world”. The event which is in its fifth edition is powered every year by Brand Communicator, a leading Brands and marketing publication in Nigeria. In his welcome address, the convener of WIMCA and publisher of Brand Communicator, Joshua Ajayi stressed that, “’women have been acknowledged as some of the most effective leaders during

the pandemic, even when they remain woefully under-represented at all levels of decision-making worldwide.” He added that Forum Research has revealed the efficacy of the ‘role model effect’ which is helping to close the gender gap. It is with this goal of expansion that the platform will soon become pan-African. His words: “Indeed, we are planning to expand this platform beyond a yearly one to a pan-African platform that will create a sustainable community that members can interact with daily. Details on this plan will be released soon.” In her presentation, the keynote speaker, CEO of Dentsu, Sub-Sahara

Africa, Dawn Rowlands spoke on “Engaging Female Consumers in Challenging Times” . She stated that the COVID-19 pandemic and other challenges have forced many businesses to evolve and look for better ways to connect with their consumers. She explained that because of the pandemic, many women work from home, combining multiple roles from work and taking care of their family. She called on brands that understand this reality to look for suitable means to engage women creatively at this time.. She equally urged brands to allocate a reasonble chunk of their budget to gender balancing and women empowerment.

T H I S D AY ˾ THURSDAY, NOVEMBER 4, 2021

BUSINESSWORLD

NEWS

‘Investment in African Data Centres Will Boost Nigeria’s Digital Economy’ Emma Okonji The Chief Executive Officer of Medallion Data Centre Limited, formerly Medallion Communications Limited, Ikechukwu Nnamani has said the recent announcement by Digital Realty, a global provider of cloud and carrier-neutral data centre services, to invest $500 million into African Data Centre operations, will boost Nigeria’s quest for a fully digital economy in the near future. Nnamani said the entrance of Digital Realty into Nigeria would be truly significant as it would ensure that the plan by the federal government of Nigeria to create a fully digital economy would be

actualised. Nnamani who spoke in Lagos shortly after the announcement of the fresh investment plan, expressed delight at the successful conclusion of the transaction and pointed out that Nigeria as a country, remained the biggest beneficiary of the investment plan. Digital Reality had earlier this week in its attempt to foray significantly into the African data centre market, which many analysts and industry watchers described as untouched, announced the investment of $500 million into the African data centre ecosystem with a huge part of the investment going into the Nigerian market.

Speaking on the investment, Chief Executive Officer of Digital Realty, William Stein, said there was a need to tap into the Africa’s expanding internet economy, noting that over the next decade, there will be huge opportunity for global businesses to tap into with predictions that it could reach 5.2 per cent of the continent’s GDP by 2025, contributing nearly $180 billion to its economy up from $115 billion in 2020. “Starting with Medallion Data Centres in Nigeria, Digital Realty aims to be a core enabler of African economy through major

investment in the continent’s internet infrastructure, that serves over one billion people who do not yet have proper access to the benefits of internet,” Stein said. He disclosed that the expansion of Digital Realty into the African internet infrastructure would be a leap forward, adding that it is just the start of a $500 million commitment to investment in the continent over the next decade. He stressed that Digital Realty would see a huge opportunity to underpin Africa’s expanding internet economy and ultimately,

play a central role in its growth. Nnamani said for Nigeria to transition to a fully digital economy, it would need next generation telecom infrastructure of which data centres are a critical part. Nnamani further said: “None of the global digital content and cloud service providers has their storage or compute nodes in Nigeria or any of the West African countries. To attract global players in the telecom and ICT space to Nigeria, we must have world class data centres operating at hyperscale level.

“Although Medallion has a robust datacenter business and rated as one of the best datacenter operator in the region, we realised we needed a global player with international experience to work with if we are to fulfill the expectation of the emerging datacenter market in the subregion.” This, he added, prompted Medallion to structure investment with Digital Realty, largest global provider of cloud- and carrierneutral data centers, colocation and interconnection solutions.

EZFarming Receives Funding Boost, Wins Part of USAID $4m Grant Ugo Aliogo Nigeria’s agritech firm, EZFarming, has been announced as one of the 32 companies in Nigeria selected by the United States Agency for International Development (USAID) to receive funding and technical assistance in support of the food system in Nigeria. In a statement, the company said the companies were selected for the funding totaling $4million under the USAID/Nigeria COVID-19 Food Security Challenge. The statement also noted that this is coming after EZFarming participated in the 500 Startups Accelerator programme in 2019, as the company continues to develop its model to better serve smallholder farmers, input suppliers, off-takers and other actors within the value-chain. The statement further explained that EZFarming has over the years built a marketplace that enables smallholder farmers to scale their businesses, sources finance through a network of micro-lenders, supplies inputs for the smallholder farmers and connects them to produce buyers. Founder, EZFarming, Dr. Adewale Oparinde, said the grant from the

USAID would accelerate the firm’s effort at scaling its model and also provide opportunities for more youths and women to expand their production capacity. “We appreciate the support of the American people in bringing hope to many smallholder farmers and youths in the country. This reflects the quality of service and the trust capital that we have built over the past 2 years serving our clients around the globe. The company has expanded its services to bring more value to farmers ranging from microlending, produce marketplace, farm ownerships to EZ Country Homes.” Continuing, he added: “We have a proof of concept on our farm estate model in Osun State, providing a means of livelihood to youths and women in rural areas. The support and funding from USAID/Nigeria COVID-19 Food Security Challenge will enable us to expand on this model by supporting an additional 200 smallholder farmers to scale their farms and expand their production capacity while providing internship opportunities for several unemployed youths as a strategy to prepare them for the next investment cycle.”

RxAll Launches Tech Solution against Fake Drugs Rebecca Ejifoma As solution against fake drugs, a health technology company, RxAll has established its presence in Nigeria with the introduction of its services to the public via online and physical location of its products. The move to establish a presence in Nigeria is an important step, as the company work towards tackling a global challenge - counterfeit medication. Speaking to the media, the Chief Executive Officer, RxAll, Pharm. Adebayo Alonge, said the company is a trusted marketplace for Quality Medicines. He added that apart from the on-demand virtual platform at “Your fingertip, the company is also doing a lot to make sure that patients get first-hand medications across its physical network of locations known as RxGO in the Southwestern part of the country”. Alonge said: “We provide an authentication platform through which regulators/pharmacies can authenticate medicines. While substandard drugs are eroding public confidence in healthcare systems globally, RxAll has come out to bridge a major gap in access to quality healthcare in Africa.” According to him, their journey to the market is based on their understanding of the challenges

confronting the industry and the people. Hence, RxAll has created solutions to address issues of wrong consumption of poor-quality drugs and accessibility to appropriate drugs through the RxAll corporate brand that will ensure interface with all members of the pharma supply value chain. The CEO pointed out that from the manufacturers of drugs to the pharmacists that are involved in the distribution, RxAll products and services are designed to enable every player to experience safe, sound and healthy moments during the business transaction and consumption of the drug. RxAll is looking to distribute its products across the country to help pharmaceutical companies reach their full potential. “We are in the country with a range of tech-driven products and services that we will be introducing to various sectors of the society based on the readiness of the market”, Alonge added. One of these products includes the RxScanner which is designed for instant drug quality testing. This new and innovative device is designed to ensure an increase in worldwide access to affordable quality medications, and specifically to identify the quality of prescription drugs in twenty seconds without destroying the sample.

WOMEN IN MARKETING…

L-R: Group Chief Executive Officer, GDM Group, Victor Afolabi; CEO, DKK, Temitope Jemerigbe; Chief Marketing and Communication Officer, Interswitch Group, Cherry Eromosele; and Publisher, Brand Communicator, Joshua Ajayi at the presentation of the ‘Most Outstanding Marketing Professional of the year (Financial Technology Category)’ Award to Eromosele during the Women in Marketing and Communications Conference/Awards held at the SUNDAY ADIGUN Muson Centre, Onikan, in Lagos… yesterday

Telecom Regulators to Combat e-Fraud, Standardise Regional Roaming Tariffs Emma Okonji The Nigerian Communications Commission (NCC) and other telecoms regulators under the auspices of West African Telecoms Regulators Assembly (WATRA), are set to develop technical and regulatory modalities, aimed at combating rising wave of electronic frauds, and standardising regional roaming tariffs in the sub-region. This was disclosed at a two-day meeting organised by WATRA in collaboration with the Economic Community of West Africa States (ECOWAS), which in Abuja. The meeting, which was attended by representatives of telecoms regulators from countries across West Africa, provided a platform for key participants and stakeholders to deliberate on building a unified market in telecommunications services in West Africa, to combat roaming and cyber-related frauds, and achieve the standardisation of

roaming tariffs among ECOWAS member-states. Addressing stakeholders at the meeting, Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta, who is also the Chairman of WATRA, underscored the centrality of the meeting by emphasising that, as businesses move online, the fraudsters are also going digital. Danbatta, who was represented by NCC’s Director, Technical Standards and Network Integrity, Bako Wakil, said, based on this fact and in order to give West African citizens and businesses the confidence to fully take advantage of the enormous benefits of Information and Communications Technology (ICT), there was a need for regulators to tame and outpace the fraudsters. “About 75 per cent of trade within ECOWAS is informal, and thus poorly recorded. Therefore, digitising this trade through employing many forms of electronic payments is a significant step

towards formalising, governing and boosting intra-ECOWAS trade activities. Our ambitions are to formalise informal trade, including agricultural commodities as well as boosting intra-regional trade and this requires us to improve collaboration on combating electronic fraud,” Danbatta said. Danbatta informed the delegates to the forum that electronic fraud was not just an African or a West African issue, but a global phenomenon. He cited studies that revealed 54 per cent of consumers in the European Union said they were most likely to come across misleading/deceptive or fraudulent advertisements or offers on the Internet. On the regional roaming service, the WATRA Chairman said the Assembly has the vision of a ‘Digital ECOWAS’ where improved sub-regional roaming regulation could help to facilitate an economic integration in the region.

In his welcome address, the Executive Secretary of WATRA, Aliyu Aboki, emphasised the value of a trusted digital economy to any nation. He cited a study by Accenture, which concludes that “a trusted digital economy would stimulate 2.8 per cent additional growth for major firms, with the new transactions generated totaling $5.2 trillion of value creation in the economy,” hence, the establishment and operationalisation of national and regional anti-fraud committee. Speaking at the forum, the Acting Director, Digital Economy and Post, ECOWAS, Dr. Raphael Koffi, noted that while e-fraud in the provision of communication services had always been an issue being collectively tackled, variance in termination rates agreed in commercial roaming agreements has also constituted an obstacle to harmonization of roaming tariffs which, he said, collaboration between WATRA and ECOWAS is set to achieve.

WIMBIZ Celebrates 20 Years Milestone, Recognises 20 Females Ugo Aliogo Women in Management, Business and Public Service (WIMBIZ) gathered recently to celebrate 20 years milestone of sectoral growth and performance of women in key strategic position at the Legends Ball to recognize the audacious efforts of twenty female living legends in Nigeria. Indeed, these incredible women have shown the possibility to break barriers by uplifting the society with it’s vision and determination to challenge Status quo and individually contribute to nation building. Speaking at the WIMBIZ 20th anniversary, executive director,

WIMBIZ, Mrs. Hansatu Adegbite, said: “We are celebrating women in business, management and public service who have contributed to nation building to blaze the trail and pave way early into the various sectors.” She added that several women have made impactful contribution in sports, education, legal, theatre arts, media and global economy while stating that these women have make significant advancement in politics and major sectors such as financial economy to prove that when responsibility is given to them they can successful contribute to nation building. She said” Executive Council Chairperson,

WIMBIZ, Ngover IhyembeNwankwo also said they were celebrating audacious women across the range of commerce, arts, industry, fashion, science, academia, education and wide array of women in finance. She noted that WIMBIZ has set the pace to celebrate more women at the 20th anniversary who have made impact and contribution to society and economy. Speaking about the legends, Chairman, Board of Trustees, WIMBIZ, Ifeyinwa Ighodalo, said: “We are celebrating female legends who dared to challenge the status quo when nobody else could and succeeded.” She said, in addition to

recognizing the female legends, WIMBIZ has built an institution that is beyond its trustees. “As a founding trustee, I am excited to see younger women take on leadership roles within the WIMBIZ community, 10 years ago, having mentored and worked with our current leaders, we passed on the baton of leadership to them and its been graceful watching them flourish.” Also Speaking, Dr. Omobola Johnson hinted that over the last 20years, the organisation has celebrated many milestones, challenged the Status Quo and individually contributed to nation building and public service.

THURSDAY NOVEMBER 4, 2021 • T H I S D AY

T H I S D AY ˾ , NOVEMBER 4, 2021

HEALTH & LIFESTYLE

ÜÙßÚ ÏËÞßÜÏÝ ÎÓÞÙÜ˝ Chiemelie Ezeobi ×ËÓÖ chiemelie.ezeobi@thisdaylive.com, Tel: 07010510430

Highlighting Need for Newborn Screening of Sickle Cell Disease in Africa Annually, more than 300,000 babies in sub-Saharan Africa are born with sickle cell disease but many do not live past the age of five because they lack access to testing, comprehensive clinical care, and early intervention programs. Chiemelie Ezeobi writes that to tackle this, the American Society of Hematology is partnering governments, hospitals, industry partners, and organisations inAfrica to build initiatives to improve the long-term health of children with SCD with the goal of screening 10,000 to 16,000 newborns in each country every year for the next five years

ccording to the World Health Organisation (WHO), each year, more than 300,000 babies in subSaharan Africa are born with sickle cell disease (SCD). However, many do not live past the age of five because they lack access to testing, comprehensive clinical care, and early intervention programs. Experts posit that the SCD is taking many young lives as the inherited blood disorder, that affects red blood cells, is often not diagnosed or treated. This is despite the fact that with diagnosis and early interventions, we can improve health outcomes, reduce child mortality, and support countries with their sustainable development goals. Also, despite its prevalence, the majority of infants are not screened for SCD in Africa due to limited laboratory capacity, awareness of the disease, and domestic funding. This, experts say, have created a great need to create capacity for universal newborn screening and implement clinical interventions for babies with SCD. Accordingly, African governments, health care workers, civil society organisations, and parents need to work together to ensure adequate care and support to all living with SCD. Partnerships To promote evidence-based sickle cell disease (SCD) programs globally, the American Society of Hematology (ASH) is partnering governments, hospitals, industry partners, and organisations in Africa to build SCD initiatives to improve the long-term health of children with SCD. Already, the ASH has developed a consortium of seven African countries to implement SCD newborn screening and early intervention programs. The Consortium on Newborn Screening in Africa (CONSA), a consortium comprising African hematologists and international hematology experts, has launched SCD newborn screening programs at clinical sites in Ghana, Kenya, Liberia, Nigeria, Tanzania, Uganda, and Zambia with a goal of screening 10,000 to 16,000 newborns in each country every year for the next five years. Through the leadership of haematologists and public health officials in these countries, CONSA introduces standard-of-care practices for screening and early intervention therapies (such as antibiotic prophylaxis and immunisations) for SCD. The goal of the consortium is to screen 10,000 to 16,000 newborns in each country every year for the next five years, and research the longterm benefits of newborn diagnosis and early clinical interventions. Once screened, newborns found to be living with SCD will enter clinical programmes that offer access to necessary medications, education on SCD care for their families, and monitoring of their health needs up to the age of five. Haematologists and public health officials participating in the consortium have mobilised networks of screening laboratories, SCD or paediatric haematology clinics, teaching hospitals, universities, and satellite clinics to screen babies and provide clinical services. To date, more than 11,000 newborns have been screened. Creating Awareness All these were the crux of a recent media session on “Improving Quality of Life for Children with Sickle Cell Disease”, held via zoom. At the virtual conference that had ASH, CONSA leaders, and the WHO in attendance, the goal was to educate and create awareness of the importance of newborn screening programmes for SCD, and the importance of government leadership to ensure the long-term sustainability of these efforts. Expatiating, Dr. Alexis Thompson, member of the ASH CONSA Steering Committee, former ASH president, and head of the Haematology Section at the Ann and Robert H. Lurie Children’s Hospital of Chicago said: “Our aim in partnering with sickle cell experts who are based in Africa as

well as collaborating with the public sector is to prioritise government capacity and funding to increase the number of infants being screened for sickle cell disease across the region. “Despite the challenges from COVID-19, we have been able to make great progress in initiating screening and care for children living with SCD, with all seven countries in our consortium set up to screen newborns this year. “We hope that the successful launch of these screening programmes and treatment protocols will demonstrate the feasibility of this model and will encourage other nations with a high burden of SCD to take similar steps to diagnose and treat SCD.”

of haemoglobin disorders can be effectively reduced through diagnostic, management, and prevention programmes, as well as through family counseling and community education. “This further emphasises the importance of the newborn screening in children so that early interventions are implemented quicker to increase chances of survival for babies born with this condition. “The WHO in the African region looks forward to working with national leaders, civil society organisations, and international partners including ASH CONSA to ensure effective, evidence-based responses are scaled up and all children are reached with life-saving interventions.”

Successes CONSA newborn screening programmes first launched in late 2020 and two positive cases were immediately identified in Nigeria through newborn screening, and the babies received early intervention therapies, such as penicillin prophylaxis and folic acid, to increase their chances of survival. In early October 2021, CONSA celebrated the first birthday of one of the newborns who was recently featured in Nature. The event included a community celebration and awareness event for SCD screening. During the session, ASH (as the world’s largest professional society of clinicians and scientists) stated that the success of screening programmes and the promise of progress in the sub-Saharan Africa region will demonstrate the ability to diagnose and treat SCD to improve the long-term health of children with SCD. Dr. Jean-Marie Dangou, coordinator of the Noncommunicable Disease Programme at WHO-Regional Office for Africa, said: “Sickle cell disease is a genetic disorder that is inherited due to a mutant haemoglobin gene from both parents. The health burden

Importance of Collaboration Dr. Kwaku Ohene-Frempong, president of the Sickle Cell Foundation of Ghana, and national coordinator for Ghana, CONSA, discussed the importance of collaboration between government, non-governmental organisations, and haematologists to provide the best possible care to newborns. He said: “Saving the lives of children is a priority in all our countries. Newborn screening for SCD saves lives of children even before the parents know they have SCD. And that is why we need to continue to promote newborn screening to our government leaders. “ An organisation like the American Society of Haematology has a voice that can be heard very loudly, compared to our voices within our own countries. And that’s why we appreciate the CONSA collaboration with the American Society of Hematology.” Newborn Screening The discussion also focused on the impact of newborn screening on both the quality of life and how it can prevent costly and painful health care services.

This further emphasises the importance of the newborn screening in children so that early interventions are implemented quicker to increase chances of survival for babies born with this Sickle Cell condition

Dr. Catherine Chunda-Liyoka, consultant paediatrician at the University Teaching HospitalsChildren’s Hospital, and national coordinator for Zambia, CONSA, said: “Newborn screening allows us to diagnosis a child very early in life. This ultimately reduces the likelihood of developing complications, making it cheaper to care for such a child through a potentially expensive, lifelong illness. “Such a child can be cared for at a low-level health care facility by primary health care providers who can continue to provide the easy to source and implement, low-cost interventions. When these children don’t have complications, they may live most of their lives without going into a specialised hospital, requiring specialised, expensive and complicated care.” Summarily, ASH pledged continuous working in partnership with local and country governments, and industry partners like PerkinElmer and Novartis, to provide resources to ensure the long-term sustainability of screening and early intervention efforts and increase hematology capacity throughout sub-Saharan Africa. About Sickle Cell Disease Sickle Cell Disease (SCD) is an inherited blood disorder that affects red blood cells. Normal red blood cells are round and flexible, which lets them travel through small blood vessels to deliver oxygen to all parts of the body. SCD causes red blood cells to form into a crescent shape, like a sickle. The sickle-shaped red blood cells break apart easily, clump together, and stick to the walls of blood vessels, blocking the flow of blood which can cause a range of serious health issues. Individuals with SCD suffer from acute pain episodes and chronic pain and may be affected by various other organ complications, which can cause disability or even death. About the American Society of Hematology The American Society of Hematology (ASH) is the world’s largest professional society of hematologists dedicated to furthering the understanding, diagnosis, treatment, and prevention of disorders affecting the blood. For more than 60 years, the Society has led the development of hematology as a discipline by promoting research, patient care, education, training, and advocacy in hematology. ASH publishes Blood (www.bloodjournal.org), the most cited peer-reviewed publication in the field, and Blood Advances (www.bloodadvances. org), an online, peer-reviewed open access journal.

T H I S D AY ˾ , NOVEMBER 4, 2021

NEWS

FERTILITY

Info@lifelinkfertility.com; Website: lifelinkfertility.com 08033083580

Leadway Health Provides Free Mammogram Screening EMBRYO QUALITY AND PREGNANCY RATE (Part 2) for Nigerian Women Mary Nnah Leadway Health Limited is facilitating a free one-month mammogram screening for women in Nigeria. This is to commemorate the 2021 Breast Cancer Awareness Month. The initiative aligns with the organisation’s campaign to raise awareness about the impact of breast cancer and help women who require or cannot afford the screening exercise. Commenting on the initiative, Chief Executive Officer, Leadway Health, Dr Tokunbo Alli said it was alarming to know that breast cancer is currently the one of the most prevalent critical illnesses

among women with 2.26 million cases recorded worldwide and 685,000 deaths in 2020. “Early detection is imperative in the successful diagnosis and treatment of this disease. Hence, we are poised to provide facilities for screening through selected health centres across Nigeria”, Alli noted. This year’s theme, “Rise”, is a clarion call for all to do more and support as many women as possible, hence the critical driving force for this exercise. The screening exercise is free and available to women above 40 nationwide. Interested parties should visit Leadway Health’s social media pages to

register or nominate anyone for the free mammogram test. Registration closes on Saturday, October 30, 2021. Leadway Health which is an associate company of Leadway Assurance is a innovative health maintenance organisation (HMO) that provides a new dimension to conventional health insurance. It’s affordable, flexible, and technology-driven services are designed to address Nigerians’ health insurance needs. As a socially responsible organisation, it is primed, proud, and ready to respond to the need for the wellbeing of women in our society.

COVID- 19: NGO Donates N305m for Vaccination in Six States James Sowole ÓØ ÌÏÙÕßÞË A non profit private organisation, the Nigeria Solidarity Support Fund (NSSF), has donated a sum of N305 million to the National Primary Healthcare Development Agency ,(NPHCDA), for execution of COVID-19 Vaccination in six states of the federation. The General Manager/CEO of the NSSF, Dr Fejiro ChinyeNwoko, disclosed the donation, in Abeokuta, Ogun State at the flag off of Mass Vaccination Programme against COVID- 19. Chinye-Nwoko said the NSSF was collaborating with the NPHCDA, to help Nigeria recover quickly, from the impact of the COVID 19. She said, “We have two main objectives for the project. We are supporting health system strenghtening, we are also supporting the vulnerable Nigerians and supporting Nigerian youths. “NSSF in collaboration with the NPHCDA came on board to discuss challenges with vac-

cination and vaccine uptake in Nigeria. “We are also supporting the actual vaccination of Nigerians. Six states were selected because we wanted to start with one million vaccination and instead of concentrating it in one state, we want to spread it across six states. It involves an initial donation of N305 million to NPHCDA to support vaccination to the six states. “With the NPHCDA, we have also involved in advocacy and campaign. We know that vaccine hesitancy is an issue in Nigeria. “A lot of people are sceptical about the impact of vaccination in Nigeria.and they are resisting the vaccine. We have been involved in mass vaccination campaign across the country.through use of radio, television, newspapers, digital media and other means of campaign. We are also involved in strategy.” The General Manager, said findings since the organisation started collaboration with the NOHCDA revealed that more people are interested in knowing

more about the vaccine. “Since we started, more people are coming out to make enquiries to know more about the vaccine while people are actually taking the vaccine. But for now, I cannot give a definite figure of people we have reached or how many people have been vaccinated “Before the end of the year, we shall give report on the number of people that had been vaccinated and how many people we have campaigned to,” she stated. The General Manager, admonished the people of Ogun State to embrace the vaccination saying . “We have strong leadership, the governor, who is really at the forefront of the control of COVID-19 and vaccination. “We have strong deputy governor, and the Commissioner for Health, who are really doing all that they can in terms of strategies and in terms of dissemination of information.” She advised people to take the advantage of the vaccination and be advocate of the vaccination drive in Ogun State.

LG Excites Consumers with Pro-Health, Hygiene Products Dike Onwuamaeze LG Electronics, one of the global leaders in consumer electronics, has launched its healthcare collection into the Nigerian market that could remove 99.9 per cent of viruses and bacteria from foods, clothes and dishes. These products include LG’s ultimate laundry solution styler, artificial intelligence direct drive washing machine, insta-view refrigerator, neo-chef microwave and the quad-wash dishwasher. The refrigerator, according to LG, is equipped with features that would enable it to increase the shelf life of fruits, vegetables and all forms of foodstuffs stored in it by effectively reducing dust, fungi, spore and other harmful active decomposers inside the refrigerator. It also said that the LG’s styler has the capability to efficiently reduce virus and bacteria from clothes with its true steam feature. The Head of Corporate Marketing, LG Electronics West African Opera-

tions, Mr. Hari Elluru said that the new range of products showed the company’s commitment to provide basic product utility to consumers in a way that would improve their well-being. Elluru said: “As a consumercentric company, we care about our customers’ well-being, which is why we’ve gone above and beyond the competition to innovate health-related items that make a difference in people’s lives and ensure their overall well-being. “We are proud to say that we are the first home appliance company to begin developing health-related products, resulting in the creation of an entirely new market for the home appliance sector.” Similarly, the General Manager of Home Appliances, LG Electronics West African Operations, Mr. Brian Kang, said LG’s healthcare products were developed to respond to global changing lifestyles and the ever-increasing issues associated with health. Kang stated that since health

issues have become national issues, the electronic giant in its unique way is offering consumers the ideal protection against health issues, especially in the areas of allergy, respiration and nutrition. He said the new refrigerator’s “hygiene fresh filter eliminates up to 99.999 per cent bacteria by delivering strong sterilisation and deodorisation performance with a five-stage filtering system. “This feature is built to increase the shelf life of fruits, vegetables and all forms of foodstuffs stored in your refrigerator by effectively reducing dust, fungi, spore and other harmful active decomposers inside the refrigerator.” He added that the styler could sanitise and efficiently reduce viruses with the aid of the true steam feature, which could reduce more than 99.9 per cent virus and bacteria. It “easily sanitises fabrics and items that are difficult or impossible to wash. True steam consists of 100 per cent water, with no chemical additives.

ast week, we discussed embryo grading and quality of division with emphasis on size and level of fragmentation. Today, we will address grading system in various stages of embryo development. Grading Systems for Day 3 (Cleavage) and Day 5 (Cleavage) Embryo transfers occur either 3 or 5 days after egg retrieval. Embryos are developmentally different on these days and so we have different grading system for day 3 (Cleavage stage) embryo and day 5 (Blastocyst stage) embryo. Each will be discussed in turn. The embryo grade refers to how the cells in the embryos look. The system used to grade embryo appearance is presented in this simplified manner for better understanding. Cleavage Grading: Grade 1: Cells are of equal size; No fragmentation seen. Embryologist’s first choice for transfer. Grade 2: Cells are equal size; Minor fragmentation. Grade 2.6: Cells are equal size; Moderate fragmentation. Grade 3: Cells are of unequal size; No fragmentation to moderate fragmentation. Grade 4: Cells are of equal size or unequal size; Fragmentation: moderate to heavy. The good embryo quality is very important, but sometimes the physically determined worse embryos may result in pregnancy. Blastocyst Grading: This is the stage of development usually observed on day 5 and 6 of culture. A blastocyst is characterized by the presence of an inner cell mass, trophectoderm and a blastocoel cavity. It is often referred to as a blast. The inner cell mass commonly referred to as the ‘’ICM’’ Is the little cluster of cells on the interior of the blastocyst that develop into the actual fetus while Trophectoderm are the cells that surround the outside of the blastocyst; they play a role in implantation and become the placenta. Several studies have suggested that the pregnancy rate and live birth rate of blastocyst day 5 is higher than a day 3 embryo transfer. This is because blastocyst stage embryo transfer permits the identification of embryos that could maintain their developmental process and thus allows the recruitment of good quality embryos with enhanced developmental ability. An average of 30 to 50 percent of

embryos makes it to the blastocyst stage. The failure of some embryos to make it to the blastocyst stage is most likely due to defects in the embryos. If for example we have ten embryos on day 3 and we select two to transfer, we may not select the right embryos. The probability that we select the three or five that would have gone to day 5 or day 6 is not very high. The quality of the sperm and egg also impacts on the quality of the embryos and blastocyst formed. Poor quality sperm and egg may result in no fertilization or fertilization may occur with no cleavage and in some cases the embryos may develop to cleavage stage but not able to develop the blastocyst stage. Poor quality blastocyst embryos hardly result in pregnancy and live birth. The genetic composition of embryos is very important. Genetically, abnormal embryos will often result in recurrent implantation failure and repeated pregnancy loss. The embryo grading system does not answer the question of whether an embryo is genetically normal or not. More extensive test like the PGT-A (Pre-Genetic Implantation Testing for Aneuploidy), allows genetically healthy embryos to be sorted and transferred to the woman, thus increasing the chance of a healthier pregnancy and live birth. CONCLUSION In summary, the quality of embryo is a great factor influencing pregnancy and pregnancy outcome. The quality of the embryo often is the product of the sperm and egg they are formed from. Commencing an IVF treatment your doctor carries out some blood test to determine if you and your spouse are likely to produce a good quality embryos or not. Age plays a role in the quality and quantity of sperm and egg. Advanced age increases the risk for genetic abnormality and poor embryo quality. Poor quality embryo will often fail to implant and in case where they implant, eventually may result in miscarriages. Women with advanced maternal age and poor ovarian reserveare often counselled to the use of donor eggs so as to increase their chance of pregnancy and a live birth. In the same vein men with poor sperm quality and quantity who have attempted ICSI (Intra Cytoplasmic Sperm Injection) without success may be counselled to the use of donor sperm. For couples trying to conceive it is recommended you explore every opportunity in Assisted Conception and Assisted Reproductive technology with the aim of achieving successful pregnancy and healthy live birth.

T H I S D AY ˾ , NOVEMBER 4, 2021

INTERVIEW

Odunayo Sanya: Our Focus is on SDGs, National Priorities Odunayo Sanya is the Executive Secretary, MTN Foundation. Under her leadership, the foundation is not resting on its oars in advancing its mission, working together with communities and institutions across Nigeria. In this interview, she sheds light on some of the foundation’s interventions and its recent collaboration with the Nigerian Institute of Medical Research to advance the Nigerian health sector and the impact in curtailing the spread of infectious diseases. Chiamaka Ozulumba brings excerpts: What is the MTN Foundation about? he MTN Foundation is aligned with the United Nation’s Sustainable Development Goals (SDGs) and the country’s national priorities in a bid to sustain national development. MTNF since its inception in 2005, has invested over 20 billion in empowering over 19 million Nigerians spread across 2,476 communities across the 36 states and the FCT.

You have recently been announced as the Executive Secretary of MTN foundation. What are the key focus areas for the MTN Foundation? Over the years, the foundation has continued to evolve in terms of key focus areas. However, certain principles stand, and that is our alignment to the Sustainable Development Goals (SDGs) of the United Nations and our commitment to the federal government’s priorities. We currently have two focus areas. One is Youth Development. I am sure we all understand the reason why we must focus on youth development. Africa is a young continent by population, the same with Nigeria and we believe we can harness the power of the young people in Nigeria to create a future they can thrive in. The second area of focus is National Priorities. Under this, we have projects like health and community development, and we express this through institutional partnerships such as the one with the Nigerian Institute of Medical Research (NIMR). Why health? The success of our business is tied to the well-being of the communities that we operate in. It is imperative that the community thrives for our business to thrive, and for us at MTN, health is important. When someone is healthy, half of their challenges are solved, and they are predisposed to do great things and to birth new ideas. So, for us, health is key, and we believe that it is also an area of national priority for every government at different levels. A lot of people ask why we focus on this area because it is not related to what we do at MTN in terms of technology. But the truth is that the well-being of the people is top of the agenda for us and will continue to be. With the rest of the world MTN was impacted by COVID-19. What was the implication of the pandemic for MTN? Taking my mind back to 2020 when we heard the news that the Coronavirus was now in Nigeria, it was important to ensure the safety of our employees, customers and partners. We shut down the physical office operations. We did this because it would not just be the employees that would be affected, they will interact with people who will in turn go back to their homes and interact with others. It was something totally new to everybody, and we ensured people experienced the level of comfort needed. Recognising that it was important for people to stay in touch with family & friends, MTN committed to giving Nigerians 300 free SMS monthly, the provision of 100mb daily to customers to encourage them source for credible information about the virus from verified sources, free MoMo cash-to-cash transfer amongst many others. We partnered with members of the private sector (CACOVID) to ensure that isolation centers were built, MTN did a lot at different levels. The story of the Oligo-Synthesizer started from there, we got the request from NIMR, we were committed to ensuring that we gave all that we can to the country where we operate in. As we speak, many of our staff still work from home in MTN. We continue to encourage ourselves to take the vaccination and we are still pushing the campaign to stay safe and wear your mask. How does it feel for you today to see the realisation of your hard work? I love my team. For me it has been a year of understanding that there are times things do not go the way you want them to go, so you have to be flexible, open-minded and emotionally intelligent. I must say the team lived up to what they stand for. A lot of the meetings with NIMR were

Sanya coordinated virtually, we toured the manufacturer’s factory virtually. There were a lot of meetings, calls, emails, and a lot of disagreements too. We are all happy to see that we have eventually achieved our objective. I am proud of the team because without them we will not be commissioning this first of its kind critical equipment in West Africa that allows for the local development of primers for the indigenous production of test kits for COVID-19 and other outbreak diseases. Utilised to its full potential, the lab will contribute significantly to the quality of medical research and development in Nigeria and West Africa. The oligosynthesizer and its accessories have the capacity to produce 48 primers in one run. The establishment of the lab will drastically reduce the cost of responding to pandemics, including COVID-19, by making test kits cheaper to produce, save lives through timely and affordable testing and build local capacity in this area. It is envisaged that this partnership

will go a long way in moving NIMR closer to its main objective, which is to conduct research into diseases of public health importance in Nigeria as well as develop structures for the dissemination of research findings while providing the enabling environment and facilities for health care research and training. The intervention is a partnership between MTNN, the Federal Ministry of Health and NIMR, and it speaks to the power of SDG17 ‘Partnership for the Goals’ in play. The NIMR team must have shown some resilience, words, and encouragement to the MTN team. Across both teams, we drew from each other’s strengths. There were times that we felt the process was taking too long, we wondered if we were going to complete this project, but they encouraged us, and we encouraged them. They came to the table with all that they had and looking at the NIMR partnership it was more

So, for us, health is key, and we believe that it is also an area of national priority for every government at different levels. A lot of people ask why we focus on this area because it is not related to what we do at MTN in terms of technology. But the truth is that the well-being of the people is top of the agenda for us and will continue to be

about the possibilities. It seems conﬁdent that the team has a sustainability plan The team has the ability to check, monitor, and evaluate the outcomes periodically (quarterly, half-year and annual basis). We have a one year support plan in place with NIMR which covers provision of reagents and maintenance. We expect it to positively impact the economy. We also look forward to celebrating the synthesis of the first set of primers from the NIMR-MTN Oligosynthesis Laboratory. What are your thoughts on the importance of partnership with the government and the value that MTN continues to show the Nigerian government in the way they engaged and carried on with the Nigerian government? The NIMR and MTN partnership is a testament to the fact that great things can be achieved especially when you have a private-public or public-private partnership. I think it is important for the private sector to partner with the government, the reason is that the combined skills and competencies of both the Government and the Private Sector will provide scale and impact. So if we are truly committed to the dream and project called Nigeria then we must as the private sector regularly partner with the public sector, and this happens across the globe especially in developed countries. For MTN, we believe strongly in collaboration because we are good together when we walk together. We have a huge ecosystem of stakeholders in MTN Nigeria, including government institutions. We will like this partnership with NIMR to be an example to the private sector on how partnership with the government moves our country forward.

T H I S D AY ˾ , NOVEMBER 4, 2021

FEATURES

Tackling the Mother, Child Mortality Rate in Nigeria Precious Ugwuzor

ccording to the World Health Organisation (WHO), the Maternal Mortality Rate (MMR) of Nigeria is 814 (per 100,000 live births). The lifetime risk of a Nigerian woman dying during pregnancy, childbirth, postpartum or post-abortion is one in 22, in contrast to the lifetime risk in developed countries estimated at one in 4900. Despite efforts targeted at addressing the Mother, Child Mortality deaths across the nation, the ratio has remained high in the last two decades in Nigeria. It is believed that improving the overall quality of healthcare is crucial to addressing the high maternal deaths in the country. To ensure that this is fought and reduced drastically, Intelligent Nodus Solutions Ltd has established a platform “Mamas Pride Maternity”, a Nigerian owned and operated business that is committed to providing support to at risk groups within Nigeria and more widely in Africa. The organisation is also aimed at providing free educational services and tools to expectant mothers in Nigeria through their free app Mama’s Pride. “We have a strong desire to reduce the maternal mortality rate in Nigeria and possibly across Africa through our free maternity app. In the future provide access to a telehealth ecosystem that will provide a complete service for expectant mothers,” INSL CEO Rufus Ohiowere disclosed during an interview. Mama’s Pride also provides informative step by step guidance to expectant mothers to educate them on how they can deliver healthy babies. It also takes a wholistic approach to pregnancy, with advice ranging from the perfect diet and nutritional advice to parental tips and personal guidance for pre and postnatal care. The Mama’s Pride content is carefully curated by Nigerian and International doctors who are experts in their fields. Key features according to Ohiowere, are pregnancy health guides, birth health check, due date calculator and symptom calculator, post pregnancy guide, diet and exercise hints and tips, baby health guide, week on week pregnancy record and contacts. Ohiowere revealed that Mama’s Pride delivers its content on a schedule that works with individual expectant mothers, keeping them on track and informed on how they

Ohiowere are tracking. The content is delivered on a timeline that is designed to match the stages of pregnancy. Recognising that socio-economic factors play a major part in a successful birth, Mama’s Pride is designed with a view to making its content accessible and affordable for everyone. It is free to download and use, with no added costs. Additionally, it can be

downloaded once and all of the Mama’s Pride features and content are available offline without the cost of an internet connection. Mama’s Pride is an important tool for expectant mother and aims to work with information provided by doctors, other medical professionals, similar organisations across Nigeria and even parental advice.

Pregnancy is a time that should be treasured by everyone involved, and INLS believes that the more information you have at hand will lead you to a happy motherhood. “Mama’s Pride is an essential source of information for every mother” says Rufus Ohiowere “we hope mothers use Mama’s Pride to stay informed and to stay healthy during their pregnancy”.

Obi Visits, Donates N1 million to Only Hospital in Anambra West In continuation of his hospital apostolate, the Vice Presidential Candidate of the People’s Democratic Party (PDP) in 2019 elections, Mr Peter Obi, recently visited and donated N1 million to Rex Universorum Hospital, Mmiata-Anam. Rex Universorum Hospital is the only hospital in Anambra West Local Government, which was also built by his administra-

tion, and later handed over to the Sisters of the Immaculate Heart for their contributions during the flood disaster of 2012. As the then Governor of Anambra State, Obi built the Rex Universorum Hospital, Mmiata-Anam to deliver basic healthcare services to Anambra West Local Government, which earlier than then, had no health care facility.

The community had to travel to other regions by boat inorder to receive medical attention until Obi came. Since the Sisters of the Immaculate Heart took over the management of the Hospital, they have continued to grow and develop it through support from well meaning individuals for the benefit the community and beyond. Obi, who learnt that one of the

buildings in the hospital collapsed due to heavy flooding, in his usual charitable way, took the lead and pledged to support the hospital in rebuilding their structure. Handing over the cheque of N1 million to the hospital management, through the Hospital Administrator, Rev Sr Dr Sapientia Ameke, Obi said “I am part of Anambra West. This was where I started my

developmental projects when I became the Governor. “I know the history of Rex Universorum Hospital and the critical role it plays as the only hospital in Anambra West Local Government. I am proud of what Sr Ameke has achieved here with the little resources she has. I will continue to partner and support them for the benefit of this society”.

In her words of appreciation, Sr Ameke recalled how, before Obi’s administration built the hospital, pregnant women, often in labour, had to travel by boat outside the local government inorder to receive medical attention. She mentioned that Obi had always supported the hospital. She appreciated Obi for coming to their aid and prayed God to bless him.

Foundation Raises Concerns over Increasing Hernia Cases Omolabake Fasogbon A non profit organisation, Pistis Foundation has expressed worry over the poor attention given hernia ailment in the country. The organisation while holding a “Walk for Hernia” to commemorate this year’s World Walk Day, noted that the growing number of hernia cases in the country should be

a cause for concern for both individuals and government. According to a World Bank report, Hernia which is a protrusion of a body part through a defect in the anatomic structure that normally contains it, kills nearly 44,000 people annually. The General Manager of Pistis Foundation, Mr. Leonard F. Thomas stated that the ‘Walk for Hernia’ was held to

draw attention to the ailment which is usually left untreated and part of activities for the foundation’s annual medical outreach, ‘Ubomi’. He enlightened that the ailment which mostly affects men is more common than people realise, thus, can lead to a more serious damage when left untreated. “’Ubomi’ 1.0 impacted the

lives of 3695 economically challenged people and successfully conducted over 240 free surgeries with a total of 7335 interventions within a one-week period. The weeklong project also played host to about 250 volunteers, including renowned medical practitioners from different parts of the country. “Data gathered from Ubomi

1.0 clearly showed that about 27 per cent of patients successfully operated upon were those with hernia cases alone, in comparison to patients with cases like appendicitis, lipomas, breast lumps, et al. “It became evident that this condition was a growing concern hence the resolve to create the needed awareness on ways to prevent/ mitigate

hernias.” He said the year’s edition of Ubomi which coincides with the third anniversary of the foundation would place emphasis on hernia and fibroid interventions considering the feedback from last year’s. Ubomi 2.0 enjoyed the partnership of Benjamin Olowojebutu Foundation, Pealon Hospital and Chion Hospital.

Rotary Urges Parents, Schools, Religious Bodies to Immunise their Children against Polio Adibe Emenyonu ÓØ ÏØÓØ City Though Nigeria is free from polio disease, the Rotary Club International has called on mothers, schools and religious organisations to open their doors for the vaccination of children from zero to five years against the polio diseases which has been curtailed globally except in Pakistan and Afghanistan.

The group made the appeal as part of activities to mark this year’s World Polio Day tagged: “Kickout Polio To Zero” which held in Benin City, capital of Edo State. Speaking during a road show to mark the event, Chairman Edo State Polio Plus Representative, Oyaseh Ivowi called on the media to be part of the advocacy for continuous vaccination against polio even though Nigeria is free to ensure that the ailment

does not resurface. He said “Only two countries Pakistan and Afghanistan still have presence of polio globally, We are here to mark the day and to appeal to the media that the fight is not finished and the game is not over until every country of the world is polio free. “We will not rest on our oars and we will continue to make sure that polio is at zero in Nigeria. We will

cooperate with the rest of the world to ensure polio free. The main fight against polio is immunisation so we have to continue to immunise until the world is polio free because it is transferable. Let us continue to immunise.” The Cluster Consultant, World Health Organisation (WHO), Mrs Winnie Aigbojie lamented that some mothers were denying their children immunisation and appealed that they should make

themselves available for the next exercise. She said “During the last polio immunisation exercise, many mothers refused to bring their children out for vaccination. Our mothers should ensure that all children from zero to five years are immunised against polio. The exercise is the normal polio vaccine that we are still giving to children so they should ensure that they bring their children forward to take it.

“School teachers should also endeavor to allow our teams to vaccinate children in schools. Same thing to the clergy in churches. We have been doing this before, and it has not changed because we want to keep polio at zero.” Receiving the group, Chairman of NUJ, Sir Roland Osakue pledged the continued support of journalists in Edo State on the campaign to sustain the zero level of polio in Nigeria.

T H I S D AY ˾ ˜ NOVEMBER 4, 2021

BUSINESS/MONEYGUIDE

CITN Applauds FG’s Implementation of Road Infrastructure Tax Credit Scheme Omolabake Fasogbon The Chartered Institute of Taxation of Nigeria (CITN) has commended the approval given by the Federal Executive Council (FEC) to the Nigerian National Petroleum Corporation (NNPC) for the construction/ refurbishment of 21 roads under the Road Infrastructure Tax Credit Scheme. The Institute in a statement signed by its Registrar/ Chief Executive, Adefisayo Awogbade said the development accords with the purpose of Executive Order 007 tagged ‘Road Infrastructure Development & Refurbishment Investment Tax Credit Scheme (RID&RITCS)’ signed by President Muhammadu Buhari on January 25, 2019. It noted that the Executive Order sought to encourage

Public-Private Partnership in the construction/refurbishment of road infrastructure in Nigeria. The statement read, “The credit to be issued in the Scheme has legal basis in section 23(2) of the Companies Income Tax Act (“CITA”), which grants the President the power to exempt any company or class of companies from all or any of the provisions of CITA or exempt all or any profits of any company or class of companies from tax, on any ground the President deems sufficient. “CITN has noted with great pleasure the Memorandum of Understanding (MOU) between the Federal Government of Nigeria and Dangote Cement PLC, for the rehabilitation of Obajana - Kabba Road by A.G. Dangote Construction Company Limited, a member of the Dangote

Group. “The Order requires private sector participants to provide funding for a road project and recover the full project cost for the construction or refurbishment of eligible roads plus an uplift set at prevailing CBN Monetary Policy Rate plus 2% of the total project cost (including professional services cost). The uplift is not taxable in the hands of the participants. The claim of tax credit by the participating taxpayers is through an offset from their annual Companies Income Tax payable to the Federal Government through the Federal Inland Revenue Service. The tax credit may be carried forward to subsequent years until it is fully utilised. Also, a participant can sell or transfer its tax credit to other companies, as a form of security or otherwise.

L-R: Managing Director, ENI/Nigeria Agip Oil Company, Mr. Roberto Daniele; Chairman/Managing Director, ExxonMobil Nigeria, Mr. Richard Laing; Executive Commissioner, Exploration and Acreages, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Ms. Rose Ndong; Com- mission Chief Executive (CCE), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe; Managing Director, Chevron Nigeria Ltd/Chairman, Oil Producers Trade Section (OPTS) of lagos chamber of commerce and industry, Mr. Rick Kennedy; Chairman/Chief Executive, SPDC Nigeria, Mr. Osagie Okunbor and Managing Director/Chief Executive TotalEnergies Nigeria, Mr. Mike Sangster at the CCE NUPRC stakeholder engagement meeting with the OPTS members in Lagos…recently

Stockbrokers’ Institute Appoints Akerewusi as Registrar There is a change of baton at the Chartered Institute of Stockbrokers (CIS) with the appointment of Mr Josiah Akerewusi as the substantive Registrar and Chief Executive, following the retirement of Mr Adedeji Ajadi after his meritorious service, spanning over one decade as the Institute’s Registrar and Chief Executive. The Institute’s President, Mr Olatunde Amolegbe in a statement described him as an accomplished professional with robust industry experience. “Prior to his appointment, the multiple award winning finance expert, was the Institute’s Assistant Director and Chief Finance Officer. Akerewusi, a Chartered Stockbroker, Chartered Accountant, and Mobil Producing Unlimited’s Scholar, brought into his new position, over three decades of industry experience

in banking, insurance Auditing, Accounting, Taxation, Information Management Systems, Management and Financial Advisory Services as well as Stockbroking. “He holds a Master’s Degree in Business Administration (MBA) from Ladoke Akintola University, Diploma in Management Information System at University of Ibadan, Higher National Diploma In Accountancy from The Polytechnic, Ibadan and currently a Doctoral Student of Business Administration at Unicaf University, Cyprus. “He is is a Fellow, Chartered Institute of Stockbrokers (FCS), Fellow, Institute of Chartered Accountants of Nigeria (FCA), Associate Member, Chartered Institute of Taxation of Nigeria (ACIT) and Associate, Nigerian Institute of Management (ANIM). Associate Chartered Institute for Securities & Investment- (ACSI

-UK), “the statement reads. “He had worked in various top management positions at UC Marine Ltd, Arian Capital Management Ltd and GEM Assets Management Ltd. He was also the Managing Director of Marimpex Finance & Investment Ltd from May 2014 to July 2015 before he joined the Institute. Akerewusi acted as the Insitute’s Registrar & Chief Executive from September 2016 to September 2017, the when the substantive Registrar was on study leave and was widely commended for excellence performance. He is a golfer and he is happily married with Children. The immediate Past Registrar, Ajadi, a Chevening Scholar, was instrumental to many policy initiatives that enhanced the Institute’s growth and development during his tenure, “it added.

Unilever Nigeria Commences Hybrid Working Structure After Working from Home for 19months Unilever Nigeria has announced that it has officially reopened its head office for employees under the new hybrid structure that allows working in the physical office twice a week with strict adherence to COVID safety protocols. While welcoming employees back to the physical office, the Managing Director, Unilever West Africa, Carl Cruz expressed delight at being able to connect to colleagues face to face. He thanked them for their dedication while working from home in the past 19 months for the head office employees, and the front-line workers at the factories

and in the field. “You have all demonstrated resilience through challenging times and shown commitment to Unilever that has kept us together as one big happy family. Now that we are back, it is important to keep observing all COVID safety protocols on site and off site.” He said. Speaking at the reopening of Unilever Nigeria head office, The Permanent Secretary Lagos State Ministry of Health, Dr. Segun Ogboye, commended Unilever Nigeria for putting its people first with strict observance of COVID safety measures on site. He added that Lagos State government is in support of

businesses returning to physical offices within the stipulated COVID-19 safety protocols to ensure the sustenance of livelihoods of individuals and families. This is one way of keeping the economy going and supporting people. Ogboye further added that it is important to get vaccinated stressing that, “It is the surest way to guarantee the safety of lives. Under the hybrid working structure, Unilever employees are allowed to work at the physical office twice a week while they continue working from home other days. Unilever Nigeria has been a champion of health and hygiene through its products to ensure the safety of lives and livelihoods.

Herconomy Partners Qatar Airways to Improve Financial Freedom Igbawase Ukumba ÓØ ËʨË Herconomy, one of Nigeria’s premiere women-focused fintech startups, has entered into partnership with Qatar Airways to Improve financial freedom of its community members. The partnership signing ceremony, which took place at the airline’s headquarters in Lagos, had the Founder of the Herconomy, Ifedayo DurosinmiEtti, and Qatar Airways Country Manager (Nigeria), Omolola Ojo, signing for their respective companies. Speaking during the partnership signing ceremony

between the two companies, the Founder of the Herconomy said affinity partnerships such as this would significantly contribute to the economic empowerment that Herconomy is driving for its community. According to her, “In line with the newly launched fintech’s goal to create financial freedom and improve the standard of living for its community members, this partnership allows Gold members of the community access to flights at a discounted rate. “Gold members of Herconomy can now enjoy incredible discounts, through an electronic bank

card that allows them access to a large group of partners who are part of Herconomy’s affinity partnership network.” She continued that Herconomy is championing financial inclusion for women, and is fast building a solid track record of dedication and commitment towards the growth and development of Nigerian women. “Our goal is to create a space where women can thrive economically. We want them to have access to opportunities that other women in more developed countries have,” Durosinmi-Etti concluded.

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 ˜ ͵

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 ˾ ˜ Ͳ˜ ͰͮͰͯ

Stock Market Down by N19bn on Proﬁt-taking in Zenith Bank, Lafarge Africa, GTCO Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) yesterday closed on a bearish note as investors profit-taking in Zenith Bank Plc, Lafarge Africa Plc and Guaranty Trust Holding Company Plc (GTCO), among others down the market capitalisation by N19billion The stock price of Zenith bank dropped by two per cent while Lafarge Africa and GTCO

yesterday recorded 2.6per cent and 1.1 per cent decline in stock prices respectively. In summary, the NGX All-Share Index (ASI) declined by 37.94 basis points, representing a decrease of 0.09 per cent, to close at 41,975.45 basis points from 42,013.39 basis points it opened for trading. Consequently, the overall market capitalisation value dropped by N19 billion to close at N21.906 trillion from N21/925trillion it closed the previous day.

P R I C E S MAIN BOARD

F O R

DEALS

Accordingly, the Month-toDate loss increased to -0.2 per cent, while the Year-to-Date gain moderated to 4.2per cent. The NGX witnessed downturn as a result of sell-off sentiments in all major sectors, except the consumer goods sector. Sectorial performance was broadly negative as the Insurance (-1.5 per cent), Banking (-1.0 per cent), Industrial Goods (-0.2 per cent), and Oil & Gas (-0.1 per cent) indices recorded losses while the

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

Consumer Goods (+0.1 per cent) index gained. Also, the market breadth closed negative, recording 20 losers as against 13 gainers. Multiverse Mining and Exploration and Universal Insurance recorded the highest price gain of 10 per cent each to close at 22 kobo each, while Honeywell Flour Mills followed with a gain 9.78 per cent to close at N3.48, per share. Sterling Bank went up by 6.85 per cent to close at N1.56, while

T R A D E D MAIN BOARD

A S

Wapic Insurance appreciated by 6.25 per cent to close at 51 kobo, per share. On the other hand, Lasaco Assurance led the losers’ chart by 9.40 per cent to close at N1.06, while Sovereign Trust Insurance and Chams Plc followed with a decline of 8.33 per cent each to close at 22 kobo each, per share. Ardova shed 7.53 per cent to close at N13.50, while Linkage Assurance depreciated by 7.02 per cent to close at 53 kobo, per share. The total volume of

O F

trades decreased by 37.2 per cent to 292.936 million units, valued at N2.060 billion, and exchanged in 4,899 deals. Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 58.608 million shares valued at N614.764 million. Multiverse Mining and Exploration followed with 32.080 million shares worth N6.442 million, while Mutual Benefits Assurance traded 21.553 million shares valued at N5.257 million.

0 3 / 1 1 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

THURSDAY, ͼ˜ ͺ͸ͺ͹ ˾ T H I S D AY

Thursday, November 4, 2021

dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĚĞĐůŝŶĞĚ ϭϳďƉƐ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĨĞůů ďǇ ϭϰďƉƐ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĨĞůů ďǇ ϭϳďƉƐ ƚŽ ĐůŽƐĞ Ăƚ ϭ͕ϳϳϯ͘ϯϵ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĚĞĐůŝŶĞĚ ďǇ ϭϰďƉƐ ƚŽ ƐĞƩůĞ

THISDAY AFRINVEST 40 INDEX

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

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

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘

ƚ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ zĞƐƚĞƌĚĂǇ͕ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ ďĞůůǁĞƚŚĞƌ ƐƚŽĐŬƐ Ͳ

zĞƐƚĞƌĚĂǇ͕ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ ,KEz&>KhZ E/d, ;ͲϮ͘ϬйͿ͕ t W K ;ͲϮ͘ϲйͿ͕ ĂŶĚ 'd K ;Ͳϭ͘ϭйͿ ĚƌĂŐŐĞĚ ƉĞƌͲ ;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, ĨŽƌŵĂŶĐĞ ĂƐ ƚŚĞ E'y ůůͲ^ŚĂƌĞ /ŶĚĞǆ ĨĞůů ;нϬ͘ϳйͿ ďǇ ϵďƉƐ ďŽůͲ ƚŽ ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ ϰϭ͕ϵϳϱ͘ϰϱ ƉŽŝŶƚƐ͘ ŽƌƌĞƐƉŽŶĚŝŶŐůǇ͕ ƚŚĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƐŚĞĚ ǁĞĂŬĞŶĞĚ ƚŽ ϰ͘Ϯй͘ ^ŚĂƌĞ േϭϵ͘ϴďŶ ƚŽ േϮϭ͘ϵƚŶ ŝŶĚĞǆ ǁŚŝůĞ zd ƌĞƚƵƌŶ ƌŽƐĞ ďǇ DĂƌŬĞƚ ĂĐƟǀŝƚǇ ǁĞĂŬĞŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ĨĞůů ϴ͘Ϯй ϭϭďƉƐ ƚŽ ϯϵ͕ϱϱϬ͘ϯϲ ƉŽŝŶƚƐ͘ ŽŶƐĞƋƵĞŶƚůǇ͕ zd ůŽƐƐ ŝŵͲ ĂŶĚ ϯϳ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ƚŽ ϮϵϮ͘ϵŵ ƵŶŝƚƐ ĂŶĚ േϮ͘ϭďŶ͘

ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďǇ & E,

;ϱϴ͘ϲŵ

ƵŶŝƚƐͿ͕

Dh>d/s Z^

;ϯϮ͘ϭŵ

ƵŶŝƚƐͿ͕

േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ǁĂƐ ŵŝǆĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ D E &/d ;Ϯϭ͘ϲŵ ƵŶŝƚƐͿ ǁĞƌĞ ƚŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďǇ

ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďǇ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ

Price Change Index to Date

Ticker

THISDAY AFRINVEST 40

1,773.39

-0.17%

20.8%

77.3%

15.0%

3.5%

5.5x

0.8x

5.1%

15.0%

780.00

0.0%

28.8%

-8.4%

14.7%

5.2%

11.1x

2.9x

2.3%

9.0%

74.50

0.0%

10.8%

-3.7%

19.1%

11.2%

35.8x

6.7x

28.00

-1.1%

8.1%

-13.4%

24.8%

3.9%

4.2x

1.1x

10.7%

23.6% 30.1%

dŚĞ ĞĂƌƐ ZĞƐƵƌĨĂĐĞ͘͘͘ ^/ ĚŽǁŶ ϵďƉƐ

^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй

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

-1.2%

20.9%

2.8%

3.3x

0.6x

12.2%

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

5.8%

7.9%

1,400.00

0.0%

3.7%

-7.0%

106.8%

15.6%

27.2x

32.0x

4.3%

3.7%

26.10

-2.6%

4.1%

24.0%

11.6%

8.4%

9.8x

1.1x

3.8%

10.2%

9.30

0.0%

3.1%

10.1%

17.0%

1.4%

2.6x

0.4x

9.2%

38.3%

8.30

-2.4%

2.6%

-4.0%

2.1x

0.4x

6.6%

47.9%

10.60

6.0%

3.6%

48.3%

0.5x

4.2%

20.2%

52.50

0.0%

1.9%

-6.3%

39.00

0.0%

2.1%

3.3%

8 Lafarge Africa PLC 9 Access Bank PLC 10 United Bank for Africa PLC 11 FBN Holdings Plc 12 Nigerian Brew eries PLC 13 Stanbic IBTC Holdings PLC

1.0%

4.9x

-6.3%

5.3%

1.9%

48.4x

2.5x

2.1%

3.3%

15.4%

2.0%

9.0x

1.4x

10.5%

11.2%

-10.3%

-3.9%

-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%

2.70

1.1%

0.8%

7.1%

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

20 Ecobank Transnational Inc 21 Dangote Sugar Refinery PLC

8.15

-0.6%

0.9%

16.65

0.0%

0.5%

ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ŝŶĚĞǆ ƌĞŵĂŝŶĞĚ ŇĂƚ͘

22 FCMB Group Plc 23 Sterling Bank PLC

3.04

1.3%

0.5%

-8.7%

1.56

6.8%

0.3%

-23.5%

dŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ůĞĚ ůĂŐŐĂƌĚƐ͕ ĚŽǁŶ ϭ͘ϱй ĂŶĚ ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

24 NASCON Allied Industries PLC 25 Transnational Corp of Nigeria

14.65

0.0%

0.4%

1.00

-2.9%

ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ

26 Presco PLC 27 Unilever Nigeria PLC

89.00 15.60

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 ůŽǁĞƌ ƐĞƋƵĞŶƟĂůůǇ͕ ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ĚĞĐůŝŶĞ ŝŶ t W K ;ͲϮ͘ϲйͿ͕

30 Guinness Nigeria PLC 31 Custodian and Allied Insurance

ƚƌĂĚĞĚ ƌŽƐĞ ďǇ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ĂŶĚ 'd K ;േϭϰϴ͘ϬŵͿ ůĞĚ ƚŚĞ ŵĂƌŬĞƚ ŝŶ ƚĞƌŵƐ ŽĨ ǀĂůƵĞ͘

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

WĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŶĞŐĂƟǀĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁŝƚŚŝŶ ŽƵƌ ĐŽǀĞƌĂŐĞ ĂƐ

ϭ͘Ϭй ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ // K ;Ͳϰ͘ϳйͿ͕ D EͲ

^ Z ;Ͳϯ͘ϱйͿ͕ E/d, ;ͲϮ͘ϬйͿ͕ ĂŶĚ 'd K ;Ͳϭ͘ϭйͿ͘ dƌĂŝůŝŶŐ͕ ƚŚĞ

/ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ĂŶĚ Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ ĐůŽƐĞĚ Ϭ͘Ϯй ĂŶĚ Ϭ͘ϭй

Ğƌ 'ŽŽĚƐ ĂŶĚ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ƚŚĞ ϰ͘ϲй ĂŶĚ Z Ks ;Ͳϳ͘ϱйͿ͕ d ZE ;Ͳϲ͘ϮйͿ͘ ,ŽǁĞǀĞƌ͕ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞǆ ĞŵĞƌŐĞĚ ĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶĞƌ͕ ƵƉ Ϭ͘ϭй ĚƵĞ ƚŽ ďƵǇŝŶŐ ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ ŝŶƚĞƌĞƐƚ ŝŶ ,KEz&>KhZ ;нϵ͘ϴйͿ͘ ϵ͘ϭйͿ͕ hE/> s Z ;Ͳϯ͘ϱйͿ͕

>/E< ^^hZ

;Ͳϲ͘ϰйͿ͕

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

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

14 International Brew eries PLC 15 Flour Mills of Nigeria PLC

10.6%

1.2%

;േϭϱϬ͘ϳŵͿ͕

34 Julius Berger Nigeria PLC 35 Wema Bank PLC 36 Union Bank of Nigeria PLC 37 Oando PLC

-10.0%

0.7x

5.7%

22.2%

1.9%

16.9x

0.6x

5.7%

5.9%

48.4%

38.8%

25.2%

9.2x

3.2x

5.2%

10.9%

7.1%

12.7%

1.2%

2.3x

0.3x

8.2%

42.6%

35.8%

1.5%

0.1%

27.0x

0.3x

-5.4%

25.6%

12.1%

6.4x

1.5x

8.9%

15.6%

-23.5%

10.1%

0.9%

3.4x

0.3x

3.4%

1.0%

20.7%

5.9%

13.8x

3.0x

2.7%

7.3%

0.4%

11.1%

-1.3%

-0.3%

0.6x

1.0%

-2.1%

0.0%

0.3%

25.4%

2.1x

1.2%

0.0%

0.2%

12.2%

-1.3%

-0.8%

1.4x

6.35

0.0%

0.2%

19.8%

-100.0%

3.7%

4.9%

-1.0% 4.0%

9.05

0.6%

0.4%

92.1%

2.0x

7.7%

0.0%

0.4%

110.0%

8.1%

3.8%

14.2x

1.1x

1.2%

7.0%

8.45

0.0%

0.3%

44.4%

24.7%

7.5%

4.2x

1.0x

6.9%

24.0%

12.2%

1.8%

12.2x

0.5x 1.8%

18.3%

1.22

-4.7%

0.2%

8.0%

240.80

0.0%

0.3%

85.2%

25.00

0.0%

0.2%

41.9%

18.3%

2.4%

4.4x

0.8x

1.6%

23.0%

0.82

1.2%

0.2%

18.8%

13.7%

0.8%

3.9x

0.5x

4.9%

25.8%

0.0%

-100.0%

7.1%

0.8%

5.6x

0.6x

5.0%

2.9%

0.2%

34.6%

14.5%

2.6%

2.1x

0.3x

4.7x

0.6x

34.6%

8.2%

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%

2.1x

-20.1% 2.0%

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

T o p 10 G a i n e r s T ic k er

P ric e

P ric e C hg %

T ic k er

Vo lum e

ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘

UN IVIN SUR E

0.22

10.0%

FB NH

58.6

6.0%

^ K ;Ͳϵ͘ϰйͿ͕ , D^ ;Ͳϴ͘ϯйͿ͕ ĂŶĚ ^KsZ E/E^ ;Ͳϴ͘ϯйͿ ůĞĚ ƚŚĞ

M ULT IVER SE

0.22

10.0%

M ULT IVER SE

32.1

10.0%

H ON YF LOUR

3.48

9.8%

M B EN EF IT

21.6

0.0%

ST ER LN B A N K

1.56

6.8%

ST ER LN B A N K

18.5

6.8% -2.9%

ĚƌŝǀĞƌ͘ /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

P ric e C hg %

0.51

6.3%

T R A N SC OR P

16.0

FB NH

10.60

6.0%

F ID ELIT YB K

14.0

1.1%

OA N D O

4.98

2.9%

A C C ESS

11.8

0.0%

UP L

2.30

2.7%

A IIC O

10.9

-4.7%

R EGA LIN S

0.41

2.5%

UB A

9.7

-2.4%

FCM B

3.04

1.3%

UN IVIN SUR E

7.7

10.0%

WA P IC

21.4%

0.9x

s Z^ ;нϭϬ͘ϬйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ ǁŚŝůĞ > Ͳ

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ ŬĞƚ ƚŽ ĞǆƚĞŶĚ ƚŚĞ ďĞĂƌŝƐŚ ƉĞƌĨŽƌŵĂŶĐĞ ŝŶ ĂďƐĞŶĐĞ ŽĨ ĂŶǇ ƉŽƐŝƟǀĞ

17.7% 46.6%

ǁŚŝůĞ ƵƉ ϮϬ ƐƚŽĐŬƐ hE/s/E^hZ ;нϭϬ͘ϬйͿ͕ ĂƉƉƌĞĐŝĂͲ Dh>d/Ͳ Ğƌ͕ ϭ͘ϴй ůŽƐƚ͘ ĚƌŝǀĞŶ ďǇ ƉƌŝĐĞ

ůĂŐŐĂƌĚƐ͘ /Ŷ ƚŚĞ ƉĞŶƵůƟŵĂƚĞ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ŵĂƌͲ

29.5%

39.90

4.98

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

1.1x 4.5x

3.4%

0.0%

32 AIICO Insurance PLC 33 TotalEnergies Marketing Nigeri

ĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ Ϭ͘ϳǆ ĨƌŽŵ Ϭ͘ϯǆ ĂƐ ϭϯ ƐƚŽĐŬƐ ŐĂŝŶĞĚ ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ

2.8%

6.7%

1.5%

t W K

Divindend Earnings Yield Yield

0.0%

;േϲϭϰ͘ϴŵͿ͕

P/BV

-2.0%

0.0%

& E,

P/E

24.50

5.70

ǁŚŝůĞ

ROA

280.00

29.20

ǀŽůƵŵĞ

ROE

ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ƐƚŽĐŬƐ WůĐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ zĞƐƚĞƌĚĂǇ͕ ŝƌƚĞů ϭϱ ĨƌŝĐĂ ;Η ŝƌƚĞů ĨƌŝĐĂΗ Žƌ D zͲ ΗƚŚĞ 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

'ƌŽƵƉΗͿ ĂŶŶŽƵŶĐĞĚ ƚŚĞ ĮƌƐƚ ĐůŽƐŝŶŐ ŽĨ ƚŚĞ ƚƌĂŶƐĂĐƟŽŶ ƚŽ ƐĞůů ŝƚƐ < Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ ƚĞůĞĐŽŵŵƵŶŝĐĂƟŽŶƐ ĐŽŵƉĂŶǇ ŝŶ DĂĚĂŐĂƐĐĂƌ ƚŽ ,ĞůŝŽƐ ǁŚŝůĞ dZ E^ ƚŽǁĞƌ ;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 %

LA SA C O

1.06

-9.4%

FB NH

614.8

6.0%

dŽǁĞƌƐ ƉůĐ͘ ĐĐŽƌĚŝŶŐ ƚŽ ƚŚĞ 'ƌŽƵƉ͕ ƚŚĞ ƚŽƚĂů ĐŽŶƐŝĚĞƌĂƟŽŶ ŽĨ

^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ zĞƐƚĞƌĚĂǇ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ

CHA M S

0.22

-8.3%

WA P C O

150.7

-2.6%

Ψϱϭ͘ϳŵ ĨƌŽŵ ƚŚŝƐ ƚƌĂŶƐĂĐƟŽŶ ǁŝůů ďĞ ƵƐĞĚ ƚŽ ƌĞĚƵĐĞ ĞǆƚĞƌŶĂů

SOVR EN IN S

0.22

-8.3%

GT C O

148.0

-1.1%

A R D OVA

13.50

-7.5%

Z EN IT H B A N K

142.2

-2.0%

LIN KA SSUR E

0.53

-7.0%

A C C ESS

109.1

0.0%

ET ER N A

7.31

-6.2%

UB A

81.0

-2.4%

F T N C OC OA

0.40

-4.8%

N GXGR OUP

80.1

-3.0%

A IIC O

1.22

-4.7%

F LOUR M ILL

58.8

0.0%

C H IP LC

0.54

-3.6%

M TNN

57.4

0.0%

M A N SA R D

2.24

-3.4%

N EST LE

55.0

0.0%

ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝǆĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůǇ

ĚĞďƚ͕ ŝŶǀĞƐƚ ŝŶ ŶĞƚǁŽƌŬ͕ ĂƐ ǁĞůů ĂƐ ƐĂůĞƐ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ŝŶ DĂĚĂͲ

ǁŝŶĚƐ ƵƉ͘

ŐĂƐĐĂƌ͘

Afrinvest West Africa Limited

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

THURSDAY NOVEMBER 4, 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 02Nov-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 166.88 168.35 3.10% Afrinvest Plutus Fund 100.00 100.00 8.09% Nigeria International Debt Fund 320.10 320.10 -15.98% Afrinvest Dollar Fund 104.85 105.90 -5.24% 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 -3.86% 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 N/A N/A N/A Anchoria Equity Fund N/A N/A N/A info@anchoriaam.com Anchoria Fixed Income Fund N/A N/A N/A 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 20.64 21.26 13.79% ARM Discovery Balanced Fund 450.11 463.68 12.42% ARM Ethical Fund 39.57 40.76 17.37% ARM Eurobond Fund ($) 1.08 1.09 -1.31% ARM Fixed Income Fund 0.98 0.99 -6.14% ARM Money Market Fund 1.00 1.00 8.28% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 107.1 107.1 5.30% AVA GAM Fixed Income Naira Fund 1,049.10 1,049.10 4.91% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund 1.00 1.00 8.60% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.08 2.08 -4.41% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.25 2.30 4.00% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.03 1.03 4.31% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.11% Paramount Equity Fund 17.49 17.81 9.36% Women's Investment Fund 141.93 143.60 6.66% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.65% Cordros Milestone Fund 2023 132.84 133.68 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 109.54 109.54 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 8.06% Coronation Balanced Fund 1.24 1.26 3.59% Coronation Fixed Income Fund 1.41 1.41 -11.02% 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 7.44% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 8.18% EDC Nigeria Fixed Income Fund 1,164.99 1,185.92 1.28% 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 2.69% Emerging Africa Balanced Diversity Fund 1.12 Emerging Africa Eurobond Fund 103.92 FBNQUEST ASSET MANAGEMENT LTD Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price FBN Bond Fund 1,438.13 FBN Balanced Fund 197.18 FBN Halal Fund 114.02 FBN Money Market Fund 100.00 FBN Dollar Fund (Retail) FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund

N/A 171.19 Bid Price 1.00 3.99 1.70 1.19

1.12 11.73% 103.92 3.88% invest@fbnquest.com Offer Price 1,438.13 198.62 114.02 100.00

Yield / T-Rtn 11.47% 5.06% 9.23% 8.98%

N/A N/A 173.48 13.24% fcmbamhelpdesk@fcmb.com Offer Price 1.00 3.99 1.74 1.19

Yield / T-Rtn 6.73% 3.05% 11.73% 5.16%

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 7.61% Vantage Balanced Fund 2.90 2.96 1.56% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 154.57 154.85 -0.60% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.32 1.72% Vantage Dollar Fund (VDF) - June Year End 1.06 1.06 3.59% 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 N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A 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 11.93 11.99 13.95% Meristem Money Market Fund 10.00 10.00 10.00% 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) 100.64 100.65 7.29% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.22% 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 1.62 13.05% PACAM Fixed Income Fund 11.02 11.03 -9.35% PACAM Money Market Fund 10.00 10.00 6.38% PACAM Equity Fund 1.48 1.49 -6.50% PACAM EuroBond Fund 111.99 114.10 2.07% 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 3,407.20 3,437.32 5.99% Stanbic IBTC Bond Fund 234.28 234.28 4.19% Stanbic IBTC Ethical Fund 1.27 1.29 8.47% Stanbic IBTC Guaranteed Investment Fund 309.86 309.86 5.16% Stanbic IBTC Iman Fund 235.98 239.59 8.15% Stanbic IBTC Money Market Fund 100.00 100.00 7.68% Stanbic IBTC Nigerian Equity Fund 11,128.70 11,290.26 6.06% Stanbic IBTC Dollar Fund (USD) 1.28 1.28 4.53% Stanbic IBTC Shariah Fixed Income Fund 116.22 116.22 4.63% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 104.97 104.97 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 4.73% United Capital Bond Fund 1.94 1.94 5.69% United Capital Equity Fund 0.93 0.95 16.32% United Capital Money Market Fund 1.00 1.00 8.94% United Capital Eurobond Fund 121.28 121.28 5.93% United Capital Wealth for Women Fund 1.09 1.10 6.32% United capital Sukuk Fund 1.07 1.07 6.73% 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 13.12 13.23 10.54% Zenith ESG Impact Fund 14.63 14.79 19.88% Zenith Income Fund 24.59 24.59 2.49% Zenith Money Market Fund 1.00 1.00 6.27%

REITS NAV Per Share

Yield / T-Rtn

124.98 53.90

10.62% 6.67%

Bid Price

Offer Price

Yield / T-Rtn

13.96 130.33 104.33 18.02 21.27

14.06 133.57 106.62 18.12 21.37

5.61% 8.39% 5.16% 1.47% 12.33%

Fund Name SFS REIT Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.97 5.66 17.92 1.00 21.94 157.95

4.07 5.76 18.12 1.00 22.14 159.95

5.96% -0.34% 10.60% 6.60% 6.87% -14.93%

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.

IMAGES

T H I S D AY ˾ THURSDAY NOVEMBER 4, 2021

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

L-R: Chief Operating Officer, Academy Halogen, Dr. Wale Adeagbo; Principal Traffic Superintendent II, Lagos State Traffic Management Agency (LASTMA) Specialised Training Department, Oshodi, Mr. Abass Olisa Segun; General Manager, Lagos State Neighborhood Safety Corp (LNSC), Prince Ifalade Ajasa Oyekan; Business Development Manager, Academy Halogen, Ms. Omolara Oyedeji; Neighbourhood Corp 1, Ms. Olaniyi Omowumi; and Canadian Police Officer, Mr. Sesan Osoba, at the intelligence gathering and Safety agencies’ interoperability training for personnel of LASTMA and LSNC organised by Academy Halogen in Ikeja, Lagos... recently. PHOTO: ABAYOMI AKINYELE

L-R: Alofa of Iloﬀa, Oba Samuel Niyi Dada; Osun State Governor, Adegboyega Oyetola; First Governor of Osun State, Chief Bisi Akande; and Managing Director/CEO, Richway Microﬁnance Bank, Mr. Adenrele Oni, during the inauguration of Richway ICT Centre at the Obafemi Awolowo University, Ile Ife, Osun State...recently

L-R: Publisher/Executive Editor, Money, Mr. Nik Ogbulie; wife of the Publisher of National Business Extra, Mrs. Bose Aideloje; Head of External and Media Relations, United Bank for Africa (UBA), Mr. Ramon Nasir; Publisher of National Business Extra, Mr. Odion Aideloje; and Guest Speaker, Dr. Abiodun Adedipe, at the fourth anniversary lecture/award of National Business Extra tagged: ‘Cryptocurrency versus e-Naira: Issues, Prospects and Challenges in Nigeria Economy’, held in Lagos... recently PHOTO: ETOP UKUTT

L-R: Anambra State governorship candidate of Actions Democratic Party (ADP), Prince Afam Umezoke; National Chairman, ADP, Yadgagi Sani; Special Duties Secretary, ADP, Dr. Lyn Olise; and Deputy National Women Leader, ADP, Mrs. Olubinmi Ese-Okiti, during the handing over of the party’s ﬂag to the candidate (Umezoke) of the party for the state governorship election in Abuja…recently PHOTO: ENOCK REUBEN

Supervising Apostle General, Administration, Corporate and ICT of the Cherubim and Seraphim Movement Church, Surulere District, Lagos, Pastor George Ogunleye (left), and Reverend Mother Esther Ajayi at the Inter Denomination Service to mark the church golden anniversary in Lagos...recently

L-R; Managing Director, Marketing Edge Limited, Mr. John Ajayi; Managing Director, Amber Energy Drink, Ms. Lola Adedeji; Assistant Sales Representative, Amber Energy Drink, Mr. Korede Omole; and wife of Marketing Edge MD, Mrs. Modupe Ajayi, during the wedding reception of Patience and Olawale Amisuru in Lagos... recently

Olawale Amisuru and his wife, Patience, during their wedding reception in Lagos...recently

The Permanent Secretary, Federal Ministry of Transportation, Dr. Magdalene Ajani (left), and Assistant Corps Marshal, Federal Road Safety Commission (FRSC), Kenneth Agomoh (right), during a Town Hall meeting held in Abuja...recently

THURSDAY, NOVEMBER 4, 2021 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Central African Republic Guards Wo und 1 0 U N Pe a c e ke e p e rs Central African Republic’s presidential guard opened fire on United Nations peacekeepers in the capital, wounding 10 of them, the UN mission said Tuesday. One person was struck and killed by a UN vehicle as it fled the scene. The UN mission known as MINUSCA condemned Monday’s development, calling the shooting of the unarmed Egyptian peacekeepers near the presidential palace “deliberate and unjustifiable.” Presidential spokesman Albert Mokpem Yaloke urged calm, saying it was “an incident that we are managing.” “We deplore the death of this compatriot and we offer our most saddened condolences to the family,” he said. Monday’s incident took place after a MINUSCA civilian officer entered the security perimeters of the presidential residence, according to MINUSCA spokesman Vladimir Monteiro. “After an exchange with the forces, he decided to turn back,” Monteiro said.

US Blacklists Four Foreign Companies for ‘Malicious Cyber Activities’ The US government has added four foreign technology companies to its restricted companies list, saying they “developed and supplied spyware to foreign governments” and that the spyware was used “to maliciously target government officials, journalists, businesspeople, activists, academics, and embassy workers.” The State Department accused the companies of “engaging in activities contrary to the national security or foreign policy interests of the United States.” The companies are Israel’s NSO Group and Candiru, Russia’s Positive Technologies, and Singapore’s Computer Security Initiative Consultancy PTE. LTD. These companies will now face severe

restrictions in exporting their products to the US, and it will make it difficult for US cybersecurity firms to sell them information that could be useful in developing their products. “This effort is aimed at improving citizens’ digital security, combating cyber threats, and mitigating unlawful surveillance,” the State Department said.

According to Reuters, both NSO Group and Candiru have been accused of selling their products to authoritarian regimes. NSO said it takes actions to prevent the abuse of its products. Positive Technologies has been in the crosshairs before, having been sanctioned by the Biden administration for allegedly providing assistance to Russian security

forces. The company said it has done nothing wrong. None of the companies commented on their blacklisting.

Algeria-Morocco Diplomatic Dispute Causes Energy Crisis in Spain Spain faces a fresh energy crisis after Algeria shut off supplies of natural gas

T H I S D AY ˾ THURSDAY, NOVEMBER 4, 2021

FOREIGN DESK through one of the two pipelines linking Spain with the North African state. Like many other European countries, Spain has been hit hard by soaring electricity prices in recent months. A surge in demand as the world’s economies began to recover from the COVID-19 pandemic has not been matched by supply, sending prices climbing. Households have been hit by electricity prices which rose more than 40% in the past year, prompting the Spanish government to bring in emergency measures to reduce bills. Now the fresh crisis over natural gas supplies from their North African neighbors has added to tensions in the energy market for Spain. Algeria closed a land pipeline Sunday after a diplomatic dispute with its neighbor Morocco, through which the pipeline passes. Algiers agreed to keep open a second pipeline which passes under the Mediterranean to Spain, but this does not supply as much natural gas as the land pipeline through Morocco.

Russia Accuses Ex-reporter of Being Paid $248 for Treason Russian special services have charged former journalist Ivan Safronov with selling information on Russian military operations in Syria for $248 to a political analyst who they say then passed it to German intelligence, Safronov’s lawyer said. In a rare glimpse into the classified investigation against Safronov, lawyer Ivan Pavlov said the Syria-related charge had been added to the case against him for state treason, which his supporters say is part of a campaign to intimidate journalists. Pavlov said the charge states that Safronov sold the information in 2015 to political analyst Demuri Voronin, who in turn passed it to Germany’s BND foreign intelligence agency and to a Swiss university. “According to the charges, Voronin paid him compensation of $248,” the lawyer wrote on social media, saying reporters in Russia could be accused of treason just for doing their job. Safronov, a former defence reporter who later worked as an aide to the head of Russia’s space agency, was arrested last year and faces up to 20 years in prison if found guilty. He denies wrongdoing. Russian media reported on Monday that the investigation had been completed. The main accusation against Safronov is that he passed military secrets to the Czech Republic in 2017 concerning Russian arms deliveries to the Middle East and Africa.

China, Russia Urge UN Security Council to Lift N. Korea Economic Sanctions China and Russia are set to introduce a joint resolution to the United Nations Security Council calling for an end to a host of economic sanctions on North Korea. Among the sanctions the two countries want lifted are a ban on North Koreans working

Pentagon: China Nuclear Arsenal Growing Fa s t e r T h a n Pr e v i o u s l y T h o u g h t A Pentagon report warns that China’s rapidly growing nuclear arsenal is expanding at a much faster pace than estimated just a year ago, while a new Chinese military modernization goal could provide Beijing with “more credible military operations in Taiwan.” The accelerating speed of China’s nuclear expansion may enable Beijing to have up to 700 deliverable nuclear warheads by 2027, with Beijing’s intended goal of obtaining at least 1,000 nuclear warheads by 2030, according to the Pentagon’s annual “China Military Power” report to Congress that was released Wednesday. overseas and sending home their earnings, exporting seafood and textiles and ending a cap on imports of refined petroleum. The draft resolution, obtained separately by the Associated Press and Reuters, urges the 15-member Security Council to remove the sanctions “with the intent of enhancing the livelihood of the civilian population”

The pace vastly exceeds what was estimated in the Pentagon’s 2020 report, which said China’s nuclear arsenal was slightly more than 200 and was expected to double by the end of the decade. The United States’ nuclear arsenal, with an estimated 3,800 warheads in active status, would still dwarf the Chinese arsenal. The Pentagon report was based on information about China’s military capabilities that was collected through December 2020. It does not include information about China’s hypersonic weapon tests conducted last summer that the top US military officer recently said “has all of our attention.”

of North Korea. The UN first imposed sanctions on North Korea in 2006 over its nuclear and ballistic missile programs, which have grown even stronger with each test Pyongyang carries out in defiance of the international community and in spite of its worsening economic situation. The draft resolution says lifting the sanctions “underscores the necessity to respect the legitimate security concerns of the DPRK, and ensure the welfare, inherent dignity, and rights of people in the DPRK.”

Thailand Reopens Borders for Tourists, Caution Still Remains Thailand opened its borders to vaccinated visitors for the first time in 18 months this week, as the country struggles to boost the economy still languishing due to the pandemic. Visitors from more than 60 countries considered “low risk” are now allowed to visit the Southeast Asian nation, with quarantine essentially scrapped. Tourism and Sports Minister Phiphat Ratchakitprakarn said Thailand had been preparing for the country’s reopening for tourism with the opening of travel lanes such as the Phuket Sandbox. He said opening the borders is to ensure Thailand remains in “competition” to draw tourists, adding that imposing quarantines will deter

visitors elsewhere. Thailand is heavily reliant on tourism, which before the pandemic accounted for around one-fifth of the country’s GDP and 20% of its overall employment, according to the International Monetary Fund (IMF).

US Envoy to Visit Ethiopia After Government Declares State of Emergency The US State Department announced Wednesday that US special envoy for the Horn of Africa Jeffrey Feltman will travel to Ethiopia Thursday for a two-day visit out of growing concern over violence in the country’s northern Tigray region. The US Embassy in Addis Ababa said earlier that “the security environment in Ethiopia has deteriorated significantly in the last several days with a continued escalation of armed conflict and civil unrest in Amhara, Afar and Tigray.” On Tuesday, the Ethiopian federal government declared a nationwide state of emergency, as its battle with Tigrayan forces reaches the one-year mark and fighting has escalated. “The Council of Ministers has declared a nationwide state of emergency effective Tuesday, November 2, 2021,” read a statement posted by state-affiliated Fana Broadcasting Corporate SC on its Twitter account.

THURSDAY NOVEMBER 4, 2021 • T H I S D AY

THURSDAY, ͼ˜ ͺ͸ͺ͹ ˾ T H I S D AY

FORTY-EIGHT INEC: WE’LL ENSURE ONLY ELIGIBLE VOTERS DETERMINE NEXT ANAMBRA GOVERNOR

The choice of the next governor of Anambra State is in the hands of the eligible voters and their will must prevail." Inspector General of Police (IGP), Mr. Usman Baba, issued a stern warning on the general conduct of people during the election. Baba said the police were determined to guarantee a peaceful election in the state. He explained that the heavy deployment of security personnel to the state was not to scare away voters, but to protect everyone. Also yesterday, the Chairman of THISDAY/ARISE Media Group, Prince Nduka Obaigbena, thanked the Chief of Defence Staff, General Lucky Irabor, Inspector General of Police, Usman Alkali Baba, and the Director General of the Department of State Security, DSS, Mr. Yusuf Magaji Bichi, for providing solid security during the ARISE News and Enough is Enough group jointly organised governorship debate in Awka, the Anambra state capital on Monday. He explained that other media houses pulled out of participating in the debate because of security concerns, “essentially, other media houses had pulled out of the debate; some wanted it done in Abuja, owing to security fears, but Arise News Channel refused, insisting that we can’t run away from any part of the country. The CDS assured of security and he lived up to his word.” Obaigbena urged the security forces to provide the same security so that voters will come to go and cast their vote for candidate of their choice and “we are urging them to extend same security for the election to encourage people to vote.” Also reacting, Tthe Inter Party Advisory Council (IPAC), on its part, asked INEC and all the security personnel deployed for the governorship election to ensure the process was credible, fair, and transparent. Accordingly, the United States warned that anyone, who interfered with the lawful conduct of the election or instigated violence, would face visa restrictions along with their families. Yakubu, speaking at a stakeholders’ meeting, said some of the sensitive materials had been secured at the Anambra State branch of the Central Bank of Nigeria (CBN) in Awka. The INEC chairman said as a usual practice on the eve of major elections, INEC would invite political parties, civil society organisations, and the media to the CBN on Thursday to inspect the sensitive materials and witness their movement to the various local government areas under security escort. By the same arrangement, Yakubu said the materials would be delivered to the Registration Areas or Wards on Friday to facilitate the opening of Polling Units at 8.30am on Election Day. He assured voters in the state that in designing the sensitive materials for the election, the commission had introduced additional visible and invisible security features, including different colour codes. He said election materials had also been customised according to local government areas and polling units, warning those who may attempt to compromise the process that INEC has put in place sufficient security features to detect counterfeits. The INEC chairman stated, “On Saturday, 6th November 2021, Anambra State will make history as the first governorship election in Nigeria in which the commission will deploy the Biometric Voter Accreditation System (BVAS) device. This new device replaces the Smart Card Reader (SCR) used in previous elections since 2015. "We are satisfied with the pilot deployment of the BVAS in the Isoko South I State Constituency bye-election in Delta State on 11th September 2021. The BVAS has the dual capacity for fingerprint and facial authentication of voters. This is to guard against voting by identity theft, where one person uses another person’s Permanent Voter’s Card (PVC) to vote using the incident form. “With this development, the use of the incident form is abolished. No voter without genuine PVC will vote. No voter, who has not been

successfully accredited electronically, using the BVAS, will vote. "At the same time, the BVAS is also equipped with a camera. Therefore, it has the capacity to snap Polling Unit level result and upload same to the INEC Result Viewing (IReV) portal, so that citizens can view results as election is concluded in each Polling Unit. "Therefore, there is no need for the Z-Pad since its functions have been embedded in the BVAS. I am glad to report that all the BVAS required for the election on Saturday have been configured and delivered to Anambra State. Election duty staff have also been trained on the use of the device and we have sufficient technical staff to respond to any glitches that may occur.” Yakubu acknowledged concerns expressed about the availability of PVCs for new registrants in the state. He said, “At the end of the recent Continuous Voter Registration (CVR) exercise, a total of 138,802 citizens completed the registration. After cleaning up the data, the commission identified and archived 62,698 multiple registrants. Consequently, the number of valid registrants is 76,104. "This figure has been added to 5,674 requests for transfer, update of voter information and replacement of lost or damaged PVCs, bringing the total of valid registrations to 81,774. I am glad to report that the PVCs have been printed and delivered to all the local government areas for collection by voters. "We have also contacted the voters by text messages and email addresses and informed them of the exact locations to collect their cards. Through the media, we have also been sensitising them to the availability of the cards for collection. Many of them have done so already. Let me, therefore, once again appeal to those that have not done so that their cards are available for collection." On the issue of voters’ distribution by polling units, Yakubu stated, “About four weeks ago, the commission published the register of voters for the election on 7th October 2021 i.e. 30 days to the election as required by law. Each of the 18 political parties was given a soft copy of the register here in Awka. In addition to meeting, the requirement of the law, the presentation of the register is significant for another reason. "The Anambra governorship election is the first time that voting is taking place in polling units since the recent successful conversion of voting points arising from the expansion of voter access to polling units in Nigeria. “An additional 1,112 polling units were established in Anambra State in addition to the existing 4,608 locations. This brings the total number of polling units in the state to 5,720. Voters were encouraged to seize the opportunity of the Continuous Voter Registration (CVR) exercise to transfer to the new polling units most convenient for them. Many did not do so. "This can be partly attributed to the security situation in the state, which has affected the commission’s pre-election outdoor activities, including voter education and sensitisation. Understandably, the voters have also been cautious." Yakubu explained that out of the 5,720 polling units in the state, 86 (1.5%) had no voters. He said the commission would not deploy personnel and materials to these polling units. “Furthermore, 894 (15.6%) of the polling units have between one and 49 voters. Election will hold in these polling units. We will continue to work with all stakeholders to ensure that all Polling Units have voters allotted to them ahead of the 2023 general election," he said.

IG Issues Stern Warning, Says Deployment Not to Scare Anyone

Inspector General of Police (IGP) Usman Baba, yesterday, read the riot act to troublemakers ahead of the Anambra State governorship election. Baba said at a meeting with political parties, religious leaders, and traditional rulers that the police were determined to ensure a peaceful election. However, he allayed fears and

concerns about the heavy security deployment in the state, saying it is not meant to scare away voters, but to reassure them of their security and safety. The IGP said, "It is to be additionally emphasised that aside these sets of guidelines, which fall under the provisions of the Electoral Act, any person that violates any components of the criminal laws, including being in possession of weapons of violence of any description, either on the streets or around the polling units, engages in any violent act, attacks critical national assets, engages in corrupt inducement of the electorate, or threatens public peace in any manner before, during and after the election, shall be apprehended and dealt with in accordance with the requisite criminal law. "I, therefore, call on all the political parties to embrace the virtues of democracy by seeing elections as a call to service by the people and not ‘a-do or die’ affair.” Baba implored parents and guardians to discourage their children and wards from being used to foment trouble or subvert the election process, warning, “Such will be forcefully resisted by the Nigeria Police, the military and other security agencies." The IGP said residents and voters should be guided by the following rules, as contained in the Electoral Act, on the election day. According to him, “No one is allowed to wear any cloth, emblem or colour signifying any political party to the polling units. "No person is allowed to

move around with security details around the polling units. Indeed, appropriate directives have been given for the withdrawal or scaling down of such security details around politically exposed persons and other personalities in the state until after the elections. "Everyone is enjoined to vote and return to their respective houses or remain peacefully within approved perimeters of the polling centres. No one is allowed to move about from one polling unit to another, as there shall be restriction of movements on the day of the election. "Only INEC accredited Election Monitors/observers are allowed to move around for the purpose of election monitoring and they must all wear their INEC accreditation tags. Only accredited journalists are allowed to cover the election. All such journalists must carry their accreditation tags.” He explained that the massive deployment of security was “not designed to intimidate the lawabiding, as being insinuated in some quarters. In the contrary, it is to re-assure them of adequate protection by deterring misguided political elements as well as nonstate actors that might be bent on threatening the elections through acts of armed violence or other conducts that violate the provisions of the Electoral Act. "It is to also serve as a strong warning that the government is determined to bring such subversive characters to justice should they advance their ignoble, undemocratic and unpatriotic intents. The overriding objective of our operational action plan is

to ensure an environment that is peaceful enough to encourage the law-abiding people of Anambra State to exercise their electoral franchise.

IPAC Demands Fairness, Transparency from INEC, Security Agencies

Inter Party Advisory Council (IPAC) asked the Independent National Electoral Commission (INEC) and all the security personnel deployed for the election in Anambra State to ensure a credible, fair and transparent electoral process. It urged the youth in the state to eschew violence and "shun political buccaneers masquerading as democrats, whose stock in trade is to use them for electoral thuggery, ballot snatching and rigging to thwart the people's mandate". IPAC said it had received assurances from relevant quarters that the result of the election would be transmitted electronically. Addressing journalists on Wednesday in Abuja, National Chairman of IPAC, Mr. Leonard Nzenwa, who is also National Chairman, African Action Congress (AAC), said it was important for INEC and the security agencies to commit to fairness and transparency during the election, and not compromise their integrity. Nzenwa stated, "INEC should provide a level playing field to all political parties and their candidates participating in the election and ensure electoral materials are provided, and that voting starts as scheduled in all polling units in the state. "The neutrality of INEC in this

election will determine the survival of democracy in Nigeria. All eyes are on the commission and its officials as they discharge this onerous civic responsibility. Security agents should also discharge their duties professionally and ensure adequate protection of lives and property during the exercise."

US Threatens Visa Restriction on Violence Instigators

The United States warned that visa restrictions would be imposed anyone who interfered with the lawful conduct of the Anambra election or instigated violence. A statement on Wednesday from the US Embassy said the American government looked forward to a peaceful and transparent governorship election whose results would accurately reflect the will of the people of the state. The statement said, “We will be paying close attention to actions of individuals, who interfere with the democratic process or instigate violence against civilian populations before, during, or after the elections. “We will not hesitate to consider consequences, including visa restrictions, for those found to be responsible for electionrelated violence or undermining the democratic process.” The statement further explained, “Under US immigration law, certain violations also may lead to restrictions on family members.” It called on citizens, electoral officials, party members, and security force personnel to do their part in ensuring a credible and secure electoral process.

BUILDING COLLAPSE: SANWO-OLU SETS UP SIX-MAN PROBE PANEL AS DEATH TOLL RISES collapsed in Ikoyi area of Lagos on Monday, was recovered. But Managing Director of Fourscore Heights Limited, Osibona, who was trapped under the rubble alongside Nifemi and Wale Bob-Oseni, his friend, were yet to be recovered 48 hours after the incident. A source said, "The dead body of the PA (Personal Assistant) to the owner of the collapsed Lagos building has been recovered. The police orderly of the owner says Osibona is trapped in the rubble with his friend, Wale Bob-Oseni." Bob-Oseni is also a property and real estate dealer like Osibona. A father whose son's body was recovered cried uncontrollably at the scene. At the time of this report, 23 people had been confirmed dead since the building located on Gerrard Road collapsed. Rescue efforts were still on-going, as families and friends of those trapped in the rubble quailed and hoped for good news. Nine persons were evacuated alive from the rubble. Members of the probe panel announced by Sanwo-Olu com-

prised a professional builder, town planner, structural engineer, and legal practitioners – all from the private sector. According to a statement signed by Chief Press Secretary to the Governor, Mr. Gboyega Akosile, President of Nigeria Institute of Town Planners (NITP), Mr. Tayo Ayinde, is the chairman of the panel, while Ekundayo Onajobi, a lawyer in a private law firm, is the secretary. Other members of the panel are a structural engineer, Dr. Akintilo Idris Adeleke; an architect, Yinka Ogundairo; representative of Institute of Builders, Mr. Godfrey O. Godfrey; and Mrs. Bunmi Ibrahim, a property lawyer. The panel’s terms of reference include ascertaining whether there was a compromise of the building codes by the developer, his contractor, and statutory regulatory agencies. Already, General Manager of the Lagos State Building Control Agency (LASBCA), Arc. Gbolahan Oki, had been suspended indefinitely by the governor. Sanwo-Olu was on an official visit to Rome in Italy for the G-20

Summit when he learnt of the incident on Monday. The governor cut short his trip and returned to Lagos on Tuesday to attend to the emergency. Arriving at the scene in the wee-hours of yesterday, the governor met with the victims’ family members, raising their hopes and showing compassion to calm them. He described the incident as “a monumental disaster”, hinting that mistakes must have been made in the process of developing the collapsed structure. The governor promised a thorough inquiry into the matter, adding that the full wrath of the law would be brought on anyone found to have compromised. Sanwo-Olu said, “We’ve promised to be open and thorough in investigating the cause of the collapse. In that regard, I have set up a high-powered professional investigative panel whose membership consists of professionals outside of the government. The panel members have been given clear terms of reference and we are giving them a 30-day assignment to tell us what has gone wrong

Olu of Warri Has Powers to Strip Off Traditional Title Holders, Mene Insists Emma Okonji and Nosa Alekhuogie

The Ogwa-Olusan of Warri Kingdom, Chief Brown Mene, has said the Olu of Warri has the powers to install chieftaincy tittles as well as strip off the traditional title from anybody, if found wanting. He said this yesterday in reaction to protests and a court case filed against the Olu of Warri Kingdom, HRM Ogiame Atuwarse III, challenging him of stripping off Chief Ayirimi Emami of his traditional title known as Ologbotsere (traditional prime minister) of Warri Kingdom. Mene who spoke yesterday on the Morning Show of ARISE NEWS Channel, the broadcast arm of THISDAY Newspapers, said as the number one citizen of Warri Kingdom, the Olu of Warri has the powers to enthrone and dethrone any traditional chief who has been found wanting, irrespective of the class of the traditional title that the chief represents. The Olu of Warri, had last month, announced the de-robing of Chief Ayirimi Emami of his traditional

title and subsequently instructed the Ologbotsere family and the people of Itsekiri to stop addressing him as the Ologbotsere of Warri Kingdom. THISDAY gathered that his title was stripped off, for failure to attend the revalidation and confirmation exercise of Warri Chiefs in September this year, among other allegations. The embattled chief is protesting his de-robing, insisting that the Olu of Warri has no traditional powers to strip him of his traditional title, since the title belongs to his family. He had since gone to court to challenge the action of the Olu of Warri. But according to Mene, “The Olu of Warri has the rights to strip off an existing traditional title, but what he did with Chief Ayirimi Emami, the former Ologbotsere of Warri Kingdom, was to strip him of the title of Ologbotsere of Warri Kingdom, and gave the same title to the head of the Ologbotsere family, pending when another person from the same family is appointed to hold the title. “This simply means that the

title is not abolished, but still remains with the family. Again all traditional titles in Warri Kingdom, is initiated by and installed by the Olu of Warri. “It means that a title can belong to a family, but the Olu of Warri is the only person allowed by tradition to install that title on any one chosen by the family, if the Olu is in support of his nomination, because the Olu has powers to also reject a particular nominee of the family, where the need arises.” He explained that the Ologbotsere title remained an official title of the Warri Kingdom that would always be initiated by the Olu, adding that no family can dictate to the Olu about whose title to keep and whose title to dethrone. The Olu can call for nominee from a particular family and he has the right to reject any family nominee if the nominee has questionable character, Mene said. He further explained that the Olu of Warri has the final say in any traditional matter and that when the Olu of Warri speaks, it becomes final.

at the site. “The panel will be finding out who the culprits are. The investigation will start from the heads of regulatory agencies. Be rest assured that if there are other people that are found wanting in the course of investigation, everybody will face the full wrath of the law. “Members of the panel are people of impeccable integrity and I will be signing an Executive Order to give the panel a legal backing.” Other terms of reference of the panel include determining whether there was full compliance with physical planning and building materials laws of the state; determining whether there was supervisory or oversight lapses on the part of regulatory agencies; and making necessary recommendations to guard against reoccurrence of similar incidents. Sanwo-Olu maintained that it was difficult for the government to know the exact number of people trapped, noting that none of the people linked to the housing project has come forward to offer information on the manifest. He said, “I express my deepest sympathy to the families of those that have been involved in this unfortunate incident. For the bodies recovered from the site, we are currently conducting systematic process of identifying them. “Before the end of today or tomorrow, the process would have been completed and family members can come forward to identify them.” The state government set up a medical base and information desk at the site of the building collapse, and urged those whose family members were still missing to offer information on their identities. There is also a website (www.lagosmind.org/help) and helpline number (09090006463) for the distressed families. The multi-sectoral search and rescue operation was ongoing at press time. The effort was led by teams from Lagos State Emergency Management Agency (LASEMA) and National Emergency Management Agency (NEMA), with the support of construction giants, Julius Berger, Craneburg, HiTech, and China Civil Engineering Construction Company (CCECC). Those rescued from the rubble were Oduntan Timilehin, 26; Sunday Monday, 21; Adeniran Mayowa, 37; Sholagbade Nurudeen, 33; Waliu Lateef, 32; and Ahmed Kanleku, a 19-year-old Beninoise.

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IN PROTECTION OF THE ENVIRONMENT... L-R: General Manager, Allianz Media Limited, Adeyemi Adeshina; Executive Director, Allianz Media, Mrs. Benedicta T.O.E Ekechi; Managing Director, Lagos State Advertising and Signage Agency (LASAA), Prince Ademola Docemo; General Manager, Lagos State Park and Gardens Agency (LASPARK), Adetoun Popoola; Chairman, Allianz Media Limited, Dr. T.O.E Ekechi, and General Manager, Marketing and Media Limited, Ambrose Nnodim, at the commissioning of Alausa Scenic Garden, built and donated to the Lagos State government by Allianz Media Limited...recently.

Massive Cordon in Abuja over Security Threat No cause for alarm, Says Brigade of Guards Kingsley Nwezeh in Abuja The Tuesday morning kidnap of a university don, his family and some staff of the University of Abuja by gunmen has triggered massive deployments of security assets and cordon around the nation's capital. There are also fears and tension in the capital city, following the likelihood of an impending invasion by terrorists. The situation prompted the

military to mount road blocks along Karu-Nyanya Road, forcing many civil servants to abandon their vehicles and report for work late while others were forced to return home. There were also a flurry of security meetings, movements and deployments around the territory. The tense situation comes as the National Center for the Control of Small and Light arms, raised the alarm that of the 10 million small

arms and light weapons in West Africa, 70 percent were circulating in Nigeria. However, at a media parley, the Commander, Guards Brigade, Brigadier-General MT Usman, assured residents that there was no cause for alarm, saying security forces were on top of the situation. Brigade of Guards protects the president and his family and the Federal Capital Territory. They have also been deployed in

the heart of the city, Maitama and in the outskirts, notably, Keffi and Gwagwalada. THISDAY gathered that military services and all the security agencies, alarmed by the daring kidnap incident at the University of Abuja, met at the Force Headquarters yesterday for about five hours to develop a response to the threat of invasion of the territory by armed non-state actors. Road blocks, checkpoints and

intelligence surveillance were also activated at the entry points to the capital city, notably, Nyanya-Karu axis, Gwagwalada, Zuba and Kubwa. "The kidnapping at the University of Abuja means that the threat is getting close", a security source told THISDAY, even as intelligence agencies had increased deployments with aerial surveillance activated. Commander, Brigade of Guards, Brigadier-General MT Usman, said there was no cause for alarm and

Insecurity: Nigeria Has Never Had It This Bad, Says Afenifere Kemi Olaitan in Ibadan The Pan-Yoruba socio-political organisation, Afenifere, yesterday came hard on the federal government, saying the growing insecurity in the country was a warning that Nigeria was under siege of evil-minded people. The organisation, in a statement by its National Publicity Secretary, Comrade Jare Ajayi, lamented the invasion of the Abuja residence of Justice Mary Peter-Odili, attack on the Ado Ekiti home of Prof. Banji Akintoye, abduction of Kwali Chief

Imam and his children as well as the abduction of two Uniabuja professors and a senior lecturer with some family members, among many others. Afenifere said Nigeria has never been under so much danger not even during the regime of the late General Sani Abacha, stating that the invasion of the residence of Justice Peter-Odili, brought to mind the bombardment of the Asokoro, Abuja home of the elder statesman, Pa Edwin Clark in October, 2018 by those it described as agents of the federal government.

Tapgun: With Ayu, PDP Back in Hands of Founding Fathers Seriki Adinoyi in Jos A former Governor of Plateau State, Fidelis Tapgun, has said with the election of Iyorcha Ayu as National chairman of the Peoples Democratic Party (PDP), the party has finally returned to its founding fathers. Tapgun, who is also a member of the Board of Trustees of the PDP, spoke with Journalists yesterday, saying the implication was that the party would now go back to its original philosophy centered on fairness and value for the people. He lamented that past leaders had created so much problem for the party and left them unresolved. "The PDP is not called the PDP for nothing, and I want to congratulate the new national chairman and the chairman of the national convention committee for a job well done, because the party is now in the hands of those that understand the idea that informed the formation of the PDP,” he said. Tapgun recalled that before the party was launched, a manifesto was drawn up on how the party was to operate, adding that, it was all agreed that the party belonged to the people and that was why it

was called Peoples Democratic Party. "What it means is that whatever decision by the party must be taken back to the people to decide and not a single individual, and that was why when it was launched, we went back to our states and the first elections were the local government elections. There was no money raised by any individual, instead, people raised the money by themselves to do what they wanted to do in all the local government areas visited. "When people saw how truly democratic the PDP was in its operations during the conduct of the council elections, many more people joined the party afterwards. This continued overtime but the democratic values, which we all cherished later degenerated and were replaced by godfatherism, imposition, high-handedness and all manner of undemocratic practices in the party, which is what obtains in the party today even presently. "But with the emergence of the new national chairman, who was one of the founding members of the PDP, I believe that he and his team will rescue the party and return Nigeria to its rightful place,” Tapgun assured.

Afenifere added that it received the news of the attack on the house of the Leader of Ilana Omo Yoruba with utter shock, and that it was clear that the mission of the attackers was dastardly as bullets, believed to have come from an AK-47 by the invaders. According to the statement, "The spate and incidence of banditry and illegal invasion of citizens’ abodes are no longer restricted to any specific areas as the attacks now occur in places of worship, schools, motor parks, farms and private houses. For instance, late last week, the Chief Imam of Yangoji Central Mosque in Kwali Area Council, Abuja, Alhaji Abdullahi Abubakar Gbedako and two of his sons were abducted in their own home. "In a similar vein, Kaduna State Commissioner for Internal Security

and Home Affairs, Mr. Samuel Aruwan, confirmed that five persons were killed in Chikun and Igabi Local Government Areas of Kaduna state while many were kidnapped. The attacks occurred on Sunday, October 31, while some of the victims were worshipping at Emmanuel Baptist Church, Kakau Daji. "The above were apart from the several cases of terrorism and banditry occurring on a daily basis in various parts of the country. But rather than confronting the insecurity challenge headlong, the federal government prefers to dawdle - being soft on the bandits but harsh on those advocating for self-determination." He insisted that the double standard being displayed by the government was making it difficult

to easily overcome the problem of insecurity, lamenting that the Minister of Defence, Maj.-Gen. Bashir Magashi (rtd), recently said government had not declared bandits as terrorists because it wanted to follow due process. Afenifere maintained that faces and names of people relating with kidnappers and allied bandits to negotiate for ransom were known but government had not deemed it fit to take action on them, insisting that with an attitude of this nature it would be difficult to be able to win the war on banditry. "But government owes the nation a duty to keep the lives and properties safe. Failure to do so is not only a dereliction of duty, it is also against the constitution that makes the protection of citizens a sacred duty of the government," the statement stated.

assured the people that security forces were on top of the situation. Speaking at a media parley in Abuja, Usman said security forces were on the trail of the abductors of staff of the University of Abuja. "There is no cause for alarm, we are on top of the situation. Abuja is safe by the grace of God. We have put a search and rescue operation in place", he said. Also, speaking at a two-day training workshop attended by 14 security agencies, the Coordinator of the National Center for the Control of Small Arms and Light Weapons, Maj. Gen Abba Dikko (rtd), said the situation was a national emergency. He said without ridding the nation of such illicit arms, solving the security situation in the country would be far-fetched. "If we don't recover arms from non-state actors, we are making a very big mistake. If we don't remove small arms, it is possible that our security challenges will not abate," he said. In his presentation, Deputy Coordinator of the arms center, Brigadier-General EC Ekwesi, said the Small Arms Survey 2019 showed that 70 per cent of small arms in West Africa were circulating in Nigeria. He said global death from small arms had exceeded all weapons systems and would end up as the next weapons of mass destruction, noting that Nigeria was ranked as the third most terrorised country in the world going by the 2020 Global Terrorism Index.

FEC Okays N47bn Contracts for Works, Aviation, Customs, Others Deji Elumoye in Abuja The Federal Executive Council (FEC) at its weekly meeting yesterday approved contracts worth N47 billion for various projects in the ministries of Works and Housing, Aviation and some departments and agencies. Other parastatals to benefit from the awarded contracts included the Nigeria Customs Service, the Federal Medical Centre, Jabi, Abuja and the University of Abuja. Briefing newsmen at the end of the virtual FEC meeting presided over by the Vice President, Prof. Yemi Osinbajo, at the State House, Abuja, Aviation Minister, Senator Hadi Sirika, said Council approved the three memoranda presented by his ministry, including the one for the award of a contract for direct procurement, installation and commissioning of the total radar coverage modernization for the Nigeria Airspace Management Agency (NAMA), at the cost of €14,428,218.17, which is equivalent

to N28,039,080,799.40. According to him, two other contracts including the one for the supply and installation of baggage handling system at the Murtala Mohammed International Airport, Ikeja, Lagos worth N3, 615,265,710.69. The third Aviation contract approved was for the manufacture, supply, installation and operating training of disabled aircraft recovery system at Nnamdi Azikiwe International Airport, Abuja at the cost of N2,209,593,428.08. Sirika said: "Today, council received three memoranda from aviation and they were all approved consequently. Memo number one is for approval for a contract for the supply and installation of baggage handling system at the Murtala Mohammed International Airport, Ikeja, Lagos and the total contract sum is N3, 615,265,710.69, inclusive of the 7.5 per cent VAT, with the completion period of 12 months.

“The contractor is Messrs. Gulf of Africa International Limited, who are exclusive representatives of the original equipment manufacturer. The OEM is Messrs. UVS Systems Company, a company that is located in Istanbul, Turkey. The funding was found and appropriated and Council consequently approved. “The second memo from us in Aviation is approval for the award of contract for the manufacture, supply, installation and operating training of disabled aircraft recovery system at Nnamdi Azikiwe International Airport in Abuja. “This system is to be applied in the event that there is an aircraft that is occupying the runway or any area of operations that we have, so the special equipment will be used to remove that aircraft from that place and free it for our own operations. Contract sum is N2, 209,593,428.08, inclusive of 7.5% VAT. “This was issued to Messrs.

Globsley Project Limited. The OEM representatives are Messrs. AMS Aircraft Recovery Limited. “The third memo is approval is approval for the award of contract for direct procurement, installation and commissioning of the total radar coverage modernization for the Nigeria Airspace Management Agency and this contract is in two parts and the total is 14,428,218.17 Euros, which is equivalent to N28, 039,080,799.40. “The contractors are Messrs. Talas, who had been on the project and supported by Intelligent Transportation Systems Limited and Messrs. Softnet Systems Nigeria Limited and the OEMs are Messrs. Talas Systems of France and Messrs. HM Global of Germany". Also briefing newsmen, the Minister of State for Budget and National Planning, Clement Agba, said FEC approved the procurement of 46 vehicles for operational use by Customs at the cost of N1, 554,200,000.

THURSDAY, ͼ˜ ͺ͸ͺ͹ ˾ T H I S D AY

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THE JOBS CRISIS RESPONSE... L-R: Chief Executive Oﬃcer, Junior Achievement Africa (JA Africa), Simi Nwogugu; Executive Director, Foundation for Partnership Initiatives in the Niger Delta (PIND), Tunji Idowu; Country Head, Mastercard Foundation Nigeria, Chidinma Lawanson and Chief Executive Oﬃcer, Jobberman Nigeria, Rolake Rosiji, during the Interactive Panel session on the theme: "The Jobs Crisis Response" at the PHOTO: KINGSLEY ADEBOYE 27th Nigerian Economic Summit held in Abuja ...recently

Nigerian Navy Signs Contract for Two New Warships Kingsley Nwezeh in Abuja The Nigerian Navy, yesterday, signed a contract with a Turkish company, Messrs Dearsan Shipyard Limited, for the purchase of two new offshore patrol vessels. The two vessels were expected to be completed within 37 months. Speaking at the ceremony, Chief of the Naval Staff, Vice Admiral Awwal Gambo, recalled that Nigerian Navy, had in the last couple of months, brought to bear her dominant status in the region by sustaining an aggressive presence in the nation’s maritime environment, leading to drastic reduction in acts of criminality in the domain. This development, he said, was acknowledged by the International Maritime Bureau (IMB) in its Global Piracy Report of 14 July 2021, indicating the lowest total of piracy and armed attacks against ships in 27 years. According to the CNS, the report was corroborated by the Defence Web maritime security report of 15 October 2021, which noted further decline in reported cases of piracy and armed attacks against shipping in the Gulf of Guinea (GoG), a development he attributed to the impact of NN maritime security operations efforts.

Admiral Gambo stated that the contract signing ceremony was another milestone achievement by the Nigerian Navy in her fleet renewal effort towards realising her 2021-2030 Strategic Plan and expressed gratitude to the President Muhammadu Buhari for his continued support and goodwill towards the Nigerian Navy. The CNS also recalled that on the directive of the president, the Nigerian Navy hosted the Chief of the Ghana Navy to discuss collaborative efforts to combat piracy and other maritime crimes in the Gulf of Gunea (GoG) and that during the meeting, it was agreed that there was a need to establish a standing ECOWAS Multinational Task Force in the GoG. In order to sustain the upwards trajectory of the NN’s operational engagements and actively participate in the proposed task force, the CNS informed that the President had granted approval for the Navy to procure two High Endurance Offshore Patrol Vessels with the capability to carry out maritime interdiction operations, surveillance and special forces operations as well as provide naval fire support to land forces. ”The OPVs will also be capable of conducting search

and rescue operations, anti-piracy, anti-smuggling and anti-drug trafficking operations and disaster relief operations among others,” he said. Admiral Gambo further revealed that the process of selecting a shipyard capable of constructing the OPVs began in earnest and Dearsan Shipyard Limited was selected based on

its track record and the conviction that the shipyard would be able to construct a platform that could be deployed as an OPV in peacetime, while having the capability and flexibility to be quickly outfitted with sensors and weapons to re-role the platform for warfare and maritime defence purposes, at a cost effective price.

One of the major roads linking the North East part of Nigeria to Cameroon and by extension other countries in the Central African region, was reopened by the Borno State Governor, Prof. Babagana Zulum with the military authorities, nine years after it was closed as a result of the Boko Haram crisis. The road, Bama-Banki, 65 kilometers long, leads Kanuri commercial and historical town of Bama to border town Banki, which shares border with neighbouring Cameroon Republic in Central Africa. Until the invasion and capture of Bama by insurgents about nine years ago, which led to the closure of the road, the route was of immense economic value to the country as goods were transported from Nigeria to Cameroon, as well as many other countries in

the Central African region. Though Bama has been recaptured from the insurgents about eight years ago, the level of its destruction made reconstruction inevitable before it could be inhabitable and allow for commercial activities. The road was reopened at a ceremony organised by the Borno State Government, where the governor, alongside the Theatre Commander, ‘Operation Hadin Kai’, Major General Musa Christopher, traveled to the border town from Maiduguri. Unveiling the road at Banki Junction on the outskirts of Bama town, Zulum appreciated the efforts of President Muhammadu Buhari and the Nigerian military for the gains being recorded in peace-building and stability of the North East region. “I am very much impressed to witness the official reopening of this very important international

Gordi, appreciated the Nigerian Navy and the federal government for the confidence placed on their company to construct the Offshore Patrol Vessels. He assured that the company would reciprocate by building the best in class vessel for the Nigerian Navy and ensure the contract was faithfully executed to deliver true value for money.

COP26: Finance Ministers, Institutions Agree to Mobilise Funding for Large-scale Climate Action Commit $100bn to support developing countries Chiemelie Ezeobi in Glasgow, Scotland Finance ministers across the globe as well as international finance institutions yesterday agreed to mobilise funding for rapid, large-scale climate action. According to them, mobilising finance was critical if they are to deliver the urgent action needed to limit global temperature rises to 1.5C., adding that public and private finance could lead the transition to a net zero, climate resilient world. They further posited that trillions of dollars of additional

investment a year were needed to secure a low-carbon future and support countries already living with the devastating impacts of climate change. Addressing newsmen, COP26 President Alok Sharma, said already, there were more public and private finance for climate action than ever before, "but to meet the commitments made in the Paris Agreement and keep 1.5 alive, we need developed countries to deliver on public finance, and to unleash the trillions required in private investment. "That is why we have made

Bama-Banki Road Reopens Nine Years After Boko Haram-induced Closure

Michael Olugbode in Maiduguri

According to him, the ceremony marked the consummation of relationship between the Nigerian Navy and Messrs Dearsan, which was hoped would lead to more fruitful engagements between Nigeria and Turkey in the future. In his remarks, the Chief Executive Officer of Messrs Dearsan Shipyard, Mr Murat

road. This road has remained inaccessible to people since 2012, due to activities of Boko Haram, but with the coming of President Muhammadu Buhari, our gallant security agencies have worked towards today’s reopening of this road,” he said. The Governor, who subsequently released 10 surveillance vehicles to the Nigerian Army to enhance their security operations along the reopened road, warned security officials to desist from extorting motorists and passengers while plying the road. His words: “As we were coming here today, I sighted some immigration personnel busy extorting our motorists along the Maiduguri-Bama-Banki junction, which is unacceptable. I want to strongly sound a warning, especially, to immigration personnel and other sister agencies to desist from extorting motorists and passengers.

“I have given a matching order to the military to arrest anybody engaged in smuggling of goods, especially, diverting the main road to the bush with food items.” Earlier, Christopher, thanked Zulum for supporting the army in the fight against insurgents and promised to do their best to end terrorism in the region. Christopher said reopening of roads and resettlement of IDPs by the present administration signified the end of Boko Haram, which would be some of the achievements to be measured during his stay in the theatre. After reopening the road, Zulum paid an unscheduled visit to Umar Ibn Ibrahim College of Education (UICEST) Bama, where he directed his Commissioner for Reconstruction, Rehabilitation and Resettlement (RRR), Mustapha Gubio, to immediately provide buses for students and ceiling fans to all classrooms/lecture theaters.

finance such a key focus of COP26, why these new commitments from nations and the private finance sector are so welcome and why we continue to push for countries to do more to meet their finance obligations. "I am delighted that work is underway to mobilise finance into developing countries to help with their energy transition. Countries are telling us what they need, now global finance needs to respond". On meeting the $100 billion commitment and financing adaptation, countries made new commitments to increase finance to support developing countries to deal with the impacts of climate change. This included a commitment from Norway to triple its adaptation finance, commitments from Japan and Australia to double their adaptation finance, and commitments from Switzerland, the US and Canada for the Adaptation Fund. Also, this included the largest US adaptation finance commitment to date, to reduce climate impacts on those most vulnerable to climate change worldwide. While Canada committed to allocate 40 per cent of its climate finance to adaptation. New commitments for climate financing also came from the United Kingdom, Spain, Japan, Australia, Norway, Ireland and Luxembourg, which build on the plan set out ahead of COP26 to deliver the $100 billion per year to developing countries. Similarly, to combat the difficulties many countries were facing with the bureaucracy of securing climate investment, £100 million in new funding from the United Kingdom was announced yesterday to support the approach of the Taskforce on Access to Climate Finance, co-chaired by the UK and Fiji. The taskforce launched a partnership with five ‘pioneer

countries’ - Bangladesh, Fiji, Jamaica, Rwanda and Uganda - to support them and their local communities to get the finance they need for their climate plans. On public finance for a net zero future and the direct benefits of what public climate financing could achieve, leaders from South Africa, the United Kingdom, the United States, France, Germany and the European Union announced a ground-breaking partnership to support South Africa with an accelerated just energy transition. THISDAY gathered that as a first step, the international partnership announced that $8.5 billion could be made available over the next three to five years to support South Africa - the world’s most carbon-intensive electricity producer - to achieve the most ambitious emissions reduction target within its upgraded and ambitious nationally determined contribution. Also, on mobilising private finance, the finance ministers agreed that the billions of dollars in public finance must be used to leverage the trillions of dollars in private finance needed for a climate resilient, net zero future, and how to support developing countries to access that finance. The United States, the European Commission and the UK also committed to work in partnership with countries to support a green and resilient recovery from COVID-19 and boost investment for clean, green infrastructure in developing countries. Meanwhile, the UK committed £576 million at COP for a package of initiatives to mobilise finance into emerging markets and developing economies, including £66 million to expand the UK’s MOBILIST programme, which helps to develop new investment products which can be listed on public markets and attract different types of investors.

THURSDAY NOVEMBER 4, 2021 ˾ T H I S D AY

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Gunmen Kill Two Policemen in Rivers Blessing Ibunge inPort Harcourt

Unknown gunmen have killed two policemen on stop-andsearch operation along Okija Street, Mile one Diobu in the Port Harcourt Local Government Area of Rivers State. THISDAY gathered that the police victims attached to the Mile One Police Division may have been gun down Tuesday night, by gunmen suspected to be terrorizing the area. The Commander of Phalga Security Watch, Mr. Victor Ohaji, who confirmed the incident, said the two police personnel were killed Tuesday night. Ohaji revealed that the hoodlums, who were riding on a vehicle, got to the checkpoint, attempted to reverse but where interrupted by the officers and at that point they opened fire on the police. “Bad boys killed two policemen who were on stop and search at Okija street. The boys shot the officers when they saw the personnel as obstacle for them to continue with their mission”. However, the local vigilante commander call for an assistance to the local vigilante group, especially as the festive period is approaching so they can assist the security agencies in the fight against crime and criminality

in the area. “We are trying our best in the security of this area (Phalga) but if they empower us we will do better. If the local government provides two patrol vans for us it will aid

Gunmen suspected to be Fulani herdsmen have raped two minors at Nuku village in Kaima Local Government of Kwara State. Apart from this, during the attack, two persons were attacked with cutlasses by the gunmen. The incident according to THISDAY checks happened on the wee hours of yesterday in the village. Contacted on the attack yesterday, the Public Relations Officer of the state command of Nigeria Security and Civil Defence Corps(NSCDC) Mr. Babawale Zaid Afolabi, who confirmed the incident said:”During the attack, the two minors were abducted but later released after the abductors have had the canal knowledge of the minors.” “In the early hours of

of Police, Friday Eboka has ordered investigation into the crime. Omoni, who stated that gunmen made away with rifle belonging to one of the victims, said the hoodlums abandoned

their Toyota Corolla car used for the operation. He said: I can confirm the attack on our men posted to Okija street on stop and search by unknown gunmen last night. Two Police officers were killed.

“Investigation has been ordered by the CP. One Toyota COROLLA with Reg.no Rivers ABU 380 AW used by the attackers was abandoned. One AK47 Rifle belonging to one of the officers carted away.”

OUTSTANDING WOMAN AWARD…

L-R: African Independent Television Presenter, Ms. Adaora Onyechere; Founder, She4She Initiative, Mrs. Peace Oyanbo-Owei receiving Outstanding Woman award from the Organiser of African Leading Women (AWL) Mr. Chris Odey in Abuja…recently

Suspected Fulani Herdsmen Rape Two Minors in Kwara Hammed Shittu in Ilorin

our efforts”. Meanwhile, the Rivers State Police has confirmed the incident. The state Police Public Relations Officer, SP Nnamdi Omoni, said the Commissioner

Wednesday (yesterday) yet to be identified gunmen invaded Alhaji Hassan Yunusa’a settlement located at Nuku village in Kaima local government area of Kwara state. “Our checks revealed that the assailants were actually looking for money. But they ransacked the whole place and could not found anything”. He stated further that the attackers later left Alhaji Yunusa and Woru Yunusa with multiple matchete wounds and went away with two girls whom they released few hours later after they had had canal knowledge of the innocent girls. “As at the time of filing in this report, the two victims are receiving medical treatment at Woro general hospital while series of medical tests are being carried out on the two minors that were raped by the abductors”.

Get Your PVCs to Prove Your Support, Oyetola Tells NURTW Osun State Governor, Adegboyega Oyetola, has told the Nation Union of Road Transport Workers (NURTW), to go and register and get their voter’s card as a proof of their support for his administration. This position followed the open declaration of support to Oyetola for a second term in officeby the union, which visited him Thursday in Osogbo, the state capital. According to the governor,

“I appeal to you all to go and register and collect your voter’s cards. There is still opportunity to do so. This is the only power to further prove your support for us particularly, in the next election. “As said by your chairman, we are here as a government for all and nothing will stop us from putting the welfare and well-being of our people on the front burner,” Oyetola said,commending the

management and members of Osun Council of NURTW, for the open show of support for his administration. He, however, assured them that his administration would continue to invest in human and infrastructure development for the benefits of different associations and people-groups in thestate. His words: “I am extremely happy today that a notable Union like NURTW could

come out with thousands of their members to endorse our administration. It is always a thing of joy for people to appreciate your little effort. I commend the State Chairman of the Union for this initiative. “I am assuring you that we will do more than what we have done. We are constructing several kilometers of roads to change the face of infrastructure and ensure improved standard of living for all.

Nigerian Army Flays Reduction in its 2022 Proposed Budget Deji Elumoye in Abuja The Nigerian Army yesterday expressed displeasure over reduction of the size of its 2022 proposed budget from N710 billion to N579 billion by the Federal Ministry of Finance, Budget and National Planning for the 2022 fiscal year. The Chief of Army Staff (COAS), Lt General Farouk Yahaya, who made the position of the Army known during the

2022 budget defence session before the Senate Committee on Army declared that the reduction in the budgetary allocation to the Army would affect its operational efficiency. He specifically asked the Committee to facilitate the exclusion of the Army and other military outfits from routine annual envelope budgeting system. His words: “In preparing for Year 2022 Budget, the Nigerian

Army (NA) proposed about the sum of Seven Hundred and Ten Billion Naira (N710b) only. “However, the Federal Ministry of Finance, Budget and National Planning budget ceiling reduced it to a total sum of Five Hundred and Seventy Nine Billion Naira (N579b) only. “This reduction would impede the capacity and tempo of the Nigerian Army in carrying out its constitutional duties particularly the ongoing war against Boko

Haram Terrorists and other criminalities across the country. “The detail of this request is contained in the Nigerian Army Year 2022 Budget Defence booklet earlier submitted to this Distinguished Committee. “I therefore passionately appeal to this Committee to impress it on the Federal Ministry of Finance, Budget and National Planning to begin the release of Year 2022 Nigerian Army Capital Budget in the First Quarter 2022.

Katsina Islamic Cleric Kidnaps N11.79bn Fraud: Judge Warns Banks against Snubbing Court Orders Imagine Global Solutions Justice Oyekan-Abdullahi, and serve on the claimants/ Four-year-old Cousin, Demands Wale Igbintade Limited, Mr. Bamise Samson who gave the warning, noted applicants’ counsel, Adetunji Toyin Oyekan-Abdullahi, Ajetunmobi and his wife, that some banks are yet to Adedoyin-Adeniyi, within seven N5m Ransom the victim at his father’s residence Justice of the Lagos State High Court Mrs. Elizabeth Anuoluwapo comply with the order of the days of service of the order on Francis SardaunainKatsina The Katsina State Police Command has apprehended one Jamilu Idris for allegedly abducting his four-year-old cousin brother, Umar Farouk Kabir. The 39-year-old suspected kidnapper, who hails from SabonFegi in Yankara village, Faskari Local Government Area of the state, was nabbed on October 9, 2021. Idris, who is said to have no fewer than 41 Islamic pupils under his tutelage, learning Qur’an, lured the kidnapped teenager after drugging him. The Command’s Public Relations Officer, Gambo Isah, who paraded the suspect alongside 13 other suspected criminals yesterday evening, said the suspect later demanded for N5,000,000 ransom. Isah, a superintendent of police, added that the suspect abducted

in Funtua Local Government Area of the state and took him to Dutsen-Alhaji in Abuja. He said: “On October 25, 2021 at about 1100hrs, the Command succeeded in arresting one Jamilu Idris, aged 39 years of Sabon-Fegi, Yankara village, Faskari LGA of the state, an Islamic cleric, who masterminded the kidnapping of his causing, one Umar Farouk Kabir, aged 4years of the same address. “In the course of investigation, suspect confessed that on 09/10/2021, at about 1430hrs, he went to the house of his uncle, one Kabir Abdullahi at Funtua, who was not at home and when his son Umar Farouk Kabir came out to see who was asking after his father, he recognised the suspect, who later deceptively gave the little boy a Viju drink and abducted him to Dutsen-Alhaji, Abuja.

sitting at Osborne, Ikoyi yesterday, warned bank executives of the consequences of snubbing court orders. She has therefore, threatened to send to jail any bank CEO who failed to disclose the amount to the credit of Imagine Global Holding Company Limited,

Ajetunmobi. The claimants/applicants are aggrieved Nigerians who invested their funds in Imagine Global and according to their motion, the N11.795 billion is the outstanding investments and return on investments accruing to them from the defendants.

court made on October 24, 2021 in favour of the investors. The order restrained commercial banks in Nigeria from releasing funds up to N11,795,090,000 to the two firms and the Ajetunmobi Couple. The order also directed the banks to, among others, file

them, an affidavit disclosing the balance on the defendants’ accounts. The orders followed a Motion on Notice for a Mareva Injunction filed ex parte by the Claimants/Applicants on October 15, 2021 in suit LD/579CM/2021.

Bauchi Gov Calls for Collaborative Efforts in Tackling Insecurity Segun Awofadeji in Bauchi Bauchi State Governor, Senator Bala Mohammed, has called on the heads of security agencies in the state to sustain collaborative efforts towards consolidation on the ongoing fight against crime across the state Similarly, he charged chairmen of the 20 local

government areas of the state to complement his administration’s commitment towards improving quality of lives of people at the grassroots levels. The governor expressed determination to give all the necessary support towards provision of adequate security and infrastructure for the overall development of the state.

Governor Mohammed expressed confidence in the ability of the heads of security agencies in the state to assist his administration in the protection of lives and property of the citizens. According to him, his administration is satisfied with the operational mechanism introduced by the security

agencies in the state with a view to ensuring that the state remain safe and secured. “I thank you must sincerely for this condolences you extended to us and I am happy to see you together because in this life today, you have made us very secured and safe and we are very happy with you.”

THURSDAY NOVEMBER 4, 2021 ˾ T H I S D AY

NEWS XTRA

Police Take over Plateau Assembly Complex, CP Redeployed Seriki Adinoyi in Jos The Inspector General of Police (IGP), Usman Alkali Baba, has ordered the immediate posting of Mr. Bartholomew Nnamdi Onyeka to Plateau State Command as the new Commissioner of Police. According to Force spokesperson, CP Frank Mba, the posting, which took immediate effect, followed the redeployment of CP Edward Egbuka to the Force Headquarters for other national engagements. It may not, however, be unconnected with the current leadership crisis in the state House of Assembly. Meanwhile, the House of Assembly complex has been takenover by the Police as two factions of the lawmakers continued to lay claim to the speakership of the assembly. Since the week began, developments at the assembly have been deteriorating. The embattled Speaker, Mr. Abok Ayuba, who was purportedly impeached on October 27,by eight out of the 24 members of the Assembly, led a faction of the lawmakers

loyal to him to hold a session outside the Assembly complex same day he was impeached, and suspended the lawmakers that impeached him, saying he remained the authentic speaker. Earlier in the week, Ayuba

and loyal lawmakers, gained access to his office and were holding an executive session preparatory for a sitting, when heavy security was deployed to the Assembly complex led by the state Commissioner of Police,

Edward Egbuka. The CP evacuated Ayuba with lawmakers loyal to him from the complex, and gave way to Yakubu Sanda, a new Speaker and those loyal to him. Sanda held a brief sitting

with his faction and also declared himself the authentic Speaker. He further declared that he would continue to lead the Assembly, but that did not happen as the Police have now taken over the assembly, preventing any

group from sitting. Meanwhile, the immediate past Governor of the state, Senator Jonah Jang has threatened to lead a protest of Plateau people against the illegality that was perpetrated at the Assembly.

SUPPORTING SMALL BUSINESSES…

Exhibitors and shoppers at a trade fair organised by Flutterwave and Pages by Dami where 37 small businesses displayed their products and sold to over 400 shoppers in Lagos…recently

Seven Persons Killed by ‘We are Working Towards Domesticating Child Right Act’ in Gombe State. rights of children. domestication of the law. Awofadeji in Gombe Gunmen in Adamawa Segun The meeting was sponsored This is coming in the wake She said that the state The Gombe State Government by Girls Strand Catalyst, of the domestication of the governor had taken the bill

Daji Sani in Yola

No fewer than seven persons have been killed with seven others sustaining various degrees of injury in a fresh attack on Negga community in Numan Local Government Area of Adamawa State. Reports from the affected areas revealed that the suspected gunmen stormed the community at 11 p.m. last Tuesday, and opened fire on the people, consequently killing seven persons and injuring seven others. Reports stated that the assailants invaded the community with guns and other dangerous weapons to kill the people, as well as displacing many others, adding that those injured in the attack are currently receiving treatment at the Numan General Hospital. While reacting on the incident yesterday during plenary, the state House of Assembly

strongly condemned the attack, and urged the government and security agencies to fish out the perpetrators of the heinous crime. The Assembly’s reaction followed a motion on the matter of urgent public interest sponsored by the Deputy Speaker and Member representing Numan constituency, Hon. Pwamwakeno Mackondo. Earlier, Mackondo said the inhabitants of Negga in his constituency were attacked by armed men as a result of which seven were feared killed, while seven others sustained injuries. He informed the Assembly that the community has a history of attacks on a regular basis by gunmen, saying when they forwarded the plight of the community, a military unit was deployed, but lamented that the military refused to reside in the community.

has said that it is gradually addressing bottlenecks hampering the domestication of child right law in the state. The State Commissioner for Women Affairs and Social Development, Mrs. Naomi JJ Awak, gave the indication yesterday at the stakeholders meeting on strengthening the implementation of strategies that would end child marriage

United States of America, in collaboration with Save the Children International (SCI). The Civil Society Organisations (CSOs) and faith based organisations were among the stakeholders that were advocating and mounting pressure on the Gombe State Government to domesticate the child right’s law following daily increase in the abuse of the

CRA in Katsina State and some northern states where girl child marriage has become a menace, thus, infringing on the rights of the girl child from attaining her full potentials. However, Awak told the stakeholders during the meeting that there is the political will and support by the Governor of Gombe State, Mr. Muhammad Inuwa Yahaya, to see to the

to the State House of Assembly, but some “stumbling blocks” are not allowing it to see the light of the day. She, however, expressed optimism that by the grace of God, in no distant future, the Child Right Act (CRA) would be a reality considering the passion the state governor and his wife have been following the bill.

JAMB Remits N3.51bn 2021 Operating Surplus Kuni Tyessi in Abuja The Joint Admissions and Matriculation Board(JAMB) has remitted the sum of N3.51 billion to the national treasury as part of its 2021 operating surplus. The 2021 remittance was in line with Prof. Is-haq Oloyede’s avowed commitment to prudent management of public resources. In a statement signed by the

spokesperson of the Board, Dr. Fabian Benjamin, the act is in line with the registrar’s commitment towards the remittance of excesses revenue generated by the board. He added that it is commitment to probity coupled with the adoption of international best practices made for costeffective operational processes and attendant savings to yield

those humongous remittances to government. “It has been the norm rather than the exception in the last six years beginning from 2016 when he remitted the whopping sum of N7 billion and repeated same in subsequent years. “It is pertinent to note that one of the direct benefits of the sustained remittances by the Prof. Oloyede-led management

manifested in the reduction of the cost of the application documents UTME and Direct Entry by candidates from N5000 to N3500 in 2018 by President Muhammadu Buhari. “This singular act has ensured the annual transfer of over N3 billion to the pockets of parents and guardians of candidates as a consequence of the slash in the price of UTME forms” he said.

Caverton Gets EASA Certification World Bank: High Unemployment Forcing Educated Nigerian Youths to Migrate for Training Facility stakeholders’ engagement on, the problem. leads to frustrations for Ndubuisi Francis in Abuja

Chinedu Eze

Caverton Helicopters has achieved another milestone with the qualification by the European Union Aviation Safety Agency (EASA) as an official full flight simulator operator, using the Thales Level D, Reality H full-flight simulator product for the AW139 helicopter. With this achievement, Caverton will fully embark on the training and retraining of pilots in the certified equipment. This was disclosed in a joint statement by Caverton Nigeria and Thales of France, stating that it is the first Reality H system operational in Africa, and operated by Caverton. Developed in France, the AW139 Full Flight Simulator offers pilots an immersive

experience with extremely faithful reproduction of their operational missions, to train in complete safety for a variety of complex situations (adverse weather conditions, helicopter failures and emergencies), that could occur in the real flight operations, the statement said. “It offers pilots high-level training opportunities with the most comprehensive and versatile equipment available on the market. “Having been approved by EASA, the Caverton Aviation Training Centre, located within the Murtala Muhammed International Airport, Lagos, Nigeria, is now able to commence commercial training operations for AW139 helicopter operators based in the African continent and beyond,” the companies said.

A World Bank economist, Mr. Samik Adhikari has stated that the country’s high unemployment rate was frustrating and forcing educated Nigerians youths to migrate to others countries of the world. In his presentation during a

“Nigeria: Perspectives on Labour Migration and Diaspora,” in Abuja, yesterday, he projected a 133 million growth in Nigeria’s working age population between 2020 and 2050. This, he noted, would add to employment pressure, unless urgent steps were taken to address

“If we look at the data between 2014 and 2020, we will see that unemployment has increased, as well as an inactive population in the economy. So, the stock of fully employed Nigerians has declined, and the stock of Nigerians not in the labour has increased. “The unemployment rate

educated youths, who come into the labour market with human capital but have fewer opportunities using them. This further creates migration pressure. Nigeria’s unemployment crisis is creating migratory pressure. Unemployment is the number one concern of Nigerians,” he said.

FG: Germany Ready to Return 1,350 Stolen Benin Bronzes Deji Elumoye in Abuja The federal government yesterday disclosed that the German government has expressed its readiness to return 1,350 looted Benin bronzes back to Nigeria. Already, the two countries have signed a Memorandum of Understanding (MOU) towards the return of the bronzes to

Nigeria before long. Information and Culture Minister, Lai Mohammed, made this known while defending the 2022 budget proposal of his ministry before the Senate committee on Culture. According to him, the federal government recently signed an MOU with the German government on how to return 1,130 Benin bronzes stolen from

Benin in 1897 which found their way to various museums in Germany. He also added that talks were on with governments of both Switzerland and France on the possibility of repatriating Nigeria’s cultural artifacts in the two countries. The Minister further stated that November 2022, had been set by federal government

as possible date for the completion and rehabilitation of the National Arts Theatre in Iganmu, Lagos. According to him, the federal government has signed a Memoranda of Understanding with the Central Bank of Nigeria and the Bankers committee to invest in the rehabilitation of the theatre and hand it over to the federal government.

THURSDAY NOVEMBER 4, 2021 ˾ T H I S D AY

NEWS XTRA

World Bank Urges FG to Initiate Bilateral Migration Policy Nume Ekeghe The World Bank has urged Nigeria to create a bilateral migration policy that would support legal migration of Nigerians, saying that legal migration would be a boost to remittances as well foster economic growth. Economist at World Bank, Mr. Samik Adhikari, made this call yesterday at the virtual webinar organised by World Bank titled, ‘Nigeria: Perspectives on Labour migration and diaspora.’ He urged Nigeria to sign bilateral migration agreement with countries who are in need of skills the country possesses in abundance such as the United Kingdom who are in need of nurses, construction partnership with Germany and an ICT partnership with European countries and other global partners. He said: “Nigeria’s working age population as we know is expanding rapidly. If we look at the population pyramid of Nigeria between now and 2015, we know that the working age population is set to expand by 133 million between now and 2050 adding to the existing employment pressure in the economy, whereas high income OECD countries are facing a rapidly aging population.” Many countries in SubSaharan Africa including Nigeria, remain young and will remain young until 1950. If we look at comparable countries

there Nigeria’s population growth is the steepest in terms of growth compared to other countries such as Bangladesh, Indonesia, between now and 2015. While the population has expanded rapidly, we also know for a fact that the opportunities in the Nigerian labor market has have dried up.” On recommendations, he said: “So the first one really

is on securing more and larger partnerships with destination countries. This is directly relevant to the Sustainable Development Goal, one of the Sustainable Development Goals of you know, opening new channels for safe orderly and regular migration. And you know, along with efforts to curb irregular migration, opening of new channels for safe, orderly

and regular migration through bilateral labour agreements (BLA) because this is something Nigeria can benefit from.” “The second bucket of recommendation is on providing migrants abroad representation as well as reducing the fees of remittances by increasing competition in the remittance market. “ The third bucket of

recommendation is on mainstreaming migration in some of the key national policy documents. One there are several policy documents related to labor migration and migration.” He noted that the FG has remained a bit silent when it comes to the national development plans or the economic growth and recovery

plan ignoring the fact that migration as something that the country can benefit from. He further added: “It’s also necessary to reduce the fragmentation among stakeholders through the existing migration groups. Finally, we highlight that there needs to be better collection and dissemination of migration data.

MORE VESSELS FOR NIGERIAN NAVY…

L-R : Chief of the Naval Staﬀ, Vice Admiral Awwal Gambo and Managing Director, Dearsan Shipyard Limited, Istanbul, Mr. Murat Gordi, after the contract signing ceremony for the purchase of two new oﬀshore patrol vessels for the Nigerian Navy in Abuja…yesterday

Pollution: Urhobo Group Introduces Schemes to Address 17.5m Housing Deficit and Home Titan has been schemes. He said interested Corporate Affairs Commission Kuni Tyessi in Abuja to Demand N1trn classified to attend to the needs of individuals are expected to and is known by the federal In order to close the huge housing low, medium, and high income use the opportunity to have government to have been into in Nigeria, which has been earners who will be open to a a decent accommodation and legitimate housing businesses Reparation from FG, IOCs deficit pegged to approximately 17.5 span of seven years to complete to also invest in their future by with a formidable track record

Sylvester Idowu in Warri

Urhobo, the fifth largest ethnic group in the country, is set to demand N1.0 trillion as reparation from the federal government and international oil companies (IOCs) for years of ‘resource plunder and environmental degradation’. President-General of Urhobo Progress Union (UPU), Olorogun Moses Taiga, made the disclosure yesterday while speaking on activities slated to mark the 90th anniversary of the creation of the union, established on November 3, 1931. He lamented that Urhobo nation had contributed to the development of Nigeria, through oil production over the years but lacked anything to show in terms of infrastructure, accommodation in Nigeria

project. “Having contributed so much to the making of Nigeria, the Urhobo people have been subjected to years of exploitation, oppression, environmental degradation, poverty, insecurity, marginalisation, and other negative manifestations of injustice that are not only reprehensible but provocative. “An Urhobo agenda must of necessity focus on our endangered environment which has been laid waste by years of crude oil exploitation and exploration. To begin with, the Urhobo people will be demanding reparation of one trillion naira from the Federal Government if Nigeria and the oil multinationals for the many years of resource plunder and environmental degradation”, he said.

Nasarawa Inaugurates First Solar Project Igbawase Ukumba in Laﬁa Governor of Nasarawa State, Mr. Abdullahi Sule, yesterday inaugurated the first Solar Hybrid Minigrid (SHM) installed in Rukubi community of the state by Husk Power System (HPS). Sule also thanked President Muhammadu Buhari for giving the project the seriousness it deserved. He thanked the HPS for coming up with the initiative to benefit humanity and consequently partnering with the federal government, the World Bank, the Africa Development Bank and of course the Nasarawa State. The governor said: “These are perfectly in line with the mission

of this government. And that is why since you (HPS) came, we have taken your project serious and I said I will come and commission this project myself because I believed in this project. And I want to make sure that people benefit from it. “I want to call on the Rukubi community leaders to protect this project jealously. Maintenance of it, government will come into that. But the only way you can protect the project is to protect those who are handling it.” Earlier, the Chief Executive Officer (CEO) of the HPS, Mr. Manoj Sinha, said that the HPS was committed to installing 25 minigrids in the state of Nasarawa.

million, a group known as BSTAN Home Titan has flagged off three housing schemes which will cover every social strata of the economy. The scheme, which included Traders Package, Metro Shelter

payment based on preferred category. The President and Group Managing Director of BSTAN Group, Dr. Becky Olubukola, stated this in Abuja during a press conference to unveil the

inviting 20 persons each and getting commission afterwards. She said that unlike in the tradition of Ponzi schemes, BSTAN has structural offices, website and above all, has been registered with the

of not less than 15 years. She disclosed that the group has not less than 4,000 plots of land and building has commenced in 11 states while the other states will commence the scheme in January 2022.

Police Arrest Husband for Stabbing Wife to Death in Ogun Police in Ogun have arrested one Mojiyagbe Olamilekan, 24, resident of Oke Ola in Ode Remo for allegedly stabbing his wife to death with scissors. DSP Abimbola Oyeyemi, the State Police Public Relations Officer, made the disclosure in a statement issued yesterday, in Abeokuta. Oyeyemi said the suspect was arrested following a

distress call received by the police in Ode Remo Divisional Headquarters at about 3 pm yesterday. He said the police received the alert that the suspect locked himself and his wife, one Seun Mojiyagbe up in their room, and started beating her. “It was the wailing of the wife that attracted the neighbours, who tried all

efforts to persuade the suspect to open the door but he refused. “Upon the distress call, the Divisional Police Officer (DPO), Ode Remo Division, CSP Olayemi Fagbohun, quickly mobilised his men and moved to the scene where the door to the couple’s apartment was forced opened. “The victim was met lying

down unconscious in the pool of her own blood. She was quickly rushed to the State Hospital in Isara Remo where she was pronounced dead by the doctor on duty,” he said. Oyeyemi added that the husband was promptly arrested and taken to custody, saying the corpse of the victim had been deposited at the mortuary for autopsy.

Glo Lists Benefits of Eutelsat to Nigeria Nigerian telecommunications network provider, Globacom, has said the recent business deal it signed with Eutelsat of France will offer unlimited benefits to communities which do not yet have access to internet connectivity in Nigeria. According to the company, the project would enable

it to offer VSAT/Satellitebased internet service and Satellite-based community Wifi internet service in far flung and unserved areas where access to internet services are currently a challenge. Globacom in a statement said: “This is also in line with the federal government’s

desire to extend broadband coverage beyond urban and densely populated areas. Millions of Nigerians will, therefore, have access to communicate and transact business with the communal provision of internet access by Globacom in these rural areas.” It added: “Subscribers in

urban cities will also be able to reach their friends and families, and also transact business over the internet in such areas. The subscriber can also carry out electronic transactions and payments to workers or companies in remote areas using the Glopowered Eutelsat Konnect Satellite platform.”

Bible Society Organises School Bible Quiz The annual national Secondary School Bible Quiz organised by The Bible Society of Nigeria (BSN) will hold this year tomorrow, November 5, 2021. According to the Manager, Media and Public Relations of BSN, Benjamin Mordi, ‘The programme, which takes place at The Apostolic Church, Palmgrove, Lagos, will feature eight schools, each from the eight zones of the BSN

across the country, with two students representing each of the participating schools’. He said: “The contestants are expected to answer questions drawn from the books of Judges and Galatians, while 10 secondary schools in Lagos are expected to constitute the audience. The overall winner of the competition will receive a trophy and a cash prize while the other participants will have

consolation prizes.”. He explained that the quiz is one of the many programmes organised by the BSN in fulfillment of its mission to meet the scripture needs of Nigerians and to help them interact with the word of God. “As an annual event, the quiz serves to provide a platform for the youths to internalize biblical values to help them to become better citizens and

responsible leaders to build a better Nigeria. The BSN is a notfor-profit interdenominational Christian organisation that translates the Bible into Nigerian languages, publishes, distributes the Scriptures and raises funds for the Bible work. So far, we have the full Bible in 26 Nigerian Languages, while Bible translations/revision are on-going in 10 Nigerian Languages,” he added.

THURSDAY, ͼ˜ ͺ͸ͺ͹ ˾ T H I S D AY

THURSDAYSPORTS

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

0811 181 3083 SMS ONLY

Benzema Scores Real Madrid’s 1,000th Elite European Football Goal Liverpool beat Atletico to cruise into Last 16 UEFA CHAMPIONS LEAGUE

Karim Benzema's double in the 2-1 defeat of spirited Shakhtar Donetsk took Real Madrid to top of Group D of the UEFA Champions League last night. Benzema tapped in the opener to record Real's 1,000th goal in European football's elite club competition. And the France forward then swept in following good work from Vinicius Junior and Casemiro after Fernando had deservedly levelled for Shakhtar. In the group’s other game of the night, Moldovan debutant side, Sheriff Tiraspol were handed a 1-3 defeat by Inter Milan. The Italian champions are now second in the Group D standing on seven points, two less than leaders Madrid. However, Real boss Carlo Ancelotti will be thankful for Benzema's clinical contribution in a contest where his side flattered to deceive against opposition they had thrashed in the reverse fixtureless than a month ago. Luka Modric twice had good opportunities to put the hosts in front early on but they dropped off the pace after Benzema turned home the opener courtesy of some calamitous play from visiting goalkeeper Anatolii Trubin and defender Marlon. Elsewhere, Liverpool swept into the last 16 of the Champions League with a

comfortable 2-0 win over 10-man Atletico Madrid that ensured they will finish top of Group B. Early goals by Diogo Jota and Sadio Mane, both created by Trent Alexander-Arnold, put the Reds in full command and there was no way back for the Spanish side once Felipe was sent off before half-time. At Etihad Stadium, Raheem Sterling ended his 12-game goal drought to wrap up an easy Champions League 4-1 win for Manchester City over Club Bruges. Sterling converted Ilkay Gundogan's cutback to score for only the second time this season and claim his first Champions League goal in more than a year. The Cityzens now require a single point from their remaining two group games to seal a spot in the last 16 for the ninth successive season.

RESULTS Man City 4-1 Brugge Leipzig 2-2 PSG AC Milan 1-1 Porto

Karim Benzema...the history maker, scores Real Madrid’s 1000th goal of elite European competition last night

Liverpool 2-0 Atletico

Okowa Remains President, AFN

Dortmund 1-3 Ajax Sporting 4-0 Besiktas R’Madrid 2-1 Shakhtar FC Sheriff 1-3 Inter

PGA Nigeria Plans N300m Fund Raiser for Nigeria Tour 2022 Olawale Ajimotokanin Abuja The Professional Golfers' Association (PGA) of Nigeria will stage a gala night in Lagos on November 19towards raising N300 million for the Nigeria Tour in 2022. The Executive Director, PGA of Nigeria, Tony Philmoore, said in a statement yesterday. He said the association is seeking to organise at least one tournament monthly from the generated funds in addition to a mega event that would attract global participation from the US PGA, the European Tour, among others next year. He said with regular and quality tournaments, PGA of Nigeria players would also have the opportunity of improving their games and ranking by playing among

the bests of the world in golf. "Furthermore, amateur golf will feature in the Tour and youth will have the attention of the Tour for the development of the game," PGA Nigeria said. The highlight of the event billed for Federal Palace Hotels and Casino, Victoria Island, Lagos is the investiture of former President Goodluck Ebele Jonathan as the Grand Patron of the Association as well as the unveiling of the Nigeria Tour logo. Dignitaries expected at the occasion include the Vice President, Prof Yemi Osinbajo, Governor of Lagos State, Babajide Sanwo-Olu, elder statesmen and industrialists, among others. The Elegushi of Ikateland, Oba Saheed Ademola Elegushi, is the Royal Father of the Gala Night.

The Athletics Federation of Nigeria insisted yesterday that the ruling of the Federal High Court in Lagos did not validate the elective congress purportedly held in Kebbi and wishes to unequivocally state that the Tonobok Okowa-led executive board of the federation which came into office through a properly conducted elective congress in Abuja on June 14, 2021 remains the national governing body for track & field in Nigeria. The Okowa-led board, according to a statement signed by Prince Adeniyi Adisa Beyioku who is the Secretary General of AFN, is recognised by World Athletics, the Confederation of African Athletics, the Nigeria Olympic Committee and the Federal Ministry of Youth and Sports Development. He stressed that the court only declined jurisdiction on the application brought before it by Dr Solomon Alao in his personal capacity as the South West Zonal representative on the board of the AFN. The suit was not instituted by the AFN and judgement was not delivered on the merits of the case. “The former president of the AFN, Ibrahim Shehu Gusau raised an objection pertaining to the jurisdiction of the Court in Lagos to adjudicate on the matter as he has filed a case challenging the elective congress of June 14, 2021 in Abuja pending before a court

in Abuja. “Gusau argued he filed his case prior to Dr Alao's application before the Federal High Court in Lagos and it was on this basis the court declined jurisdiction. “The court did not deliver

judgement on the merit of the case and has not validated the elective congress in Kebbi organised in contravention of the provisions of articles 6.1.4, 6.1.5, 8.3.6 and 8.3.9 of the AFN constitution (2017),” the AFN scribe noted yesterday

Tonobok Okowa...AFN President

in a statement. Mr Gusau was told by World Athletics unequivocally in a letter addressed to him on May 14, 2021 of the sanctity of the 2017 constitution of the AFN adopted at its November 16, 2017 congress in Abuja. The letter, signed by Carolyn Launois on behalf of Mr Jon Ridgeon, the Chief Executive Officer of World Athletics reads inter-alia: “To confirm World Athletics' position is that the 2017 AFN constitution applies, to be clear, World Athletics has never recognised and does not recognize the claimed 2019 constitution and so any election must be held in accordance with 2017 constitution". For the records, the purported amendment of the 2017 constitution by an illegal congress in December, 2019 in Awka, Anambara State was not done pursuant to articles 10.1.2 and 10.1.3 of the AFN constitution. The world governing body had earlier through its reconciliation mission to Abuja in April affirmed that the 2017 AFN constitution is the only working document it recognises and must be used for the conduct of the June 14 elective congress. “The AFN board led by Tonobok Okowa remains the legitimate governing body for track and field in Nigeria and the general public, especially stakeholders in athletics should take note,” the AFN Secretary General concluded.

THURSDAY, ͼ˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

Messi (Argentina), Neymar (Brazil) and Mbappe (France) are PSG’s top stars from three diﬀerent countries with diﬀerent languages. This is the kind of scenario playing out in PSG’s ‘United Nation’ squad. This is creating problem in the dressing room right now

Language ‘War’ Festering at PSG There is a growing concern in the Paris Saint-Germain squad regarding the lack of French used across the first team squad and club in general. The super rich Ligue 1 giants boast one of the most diverse squads in all of European

football, but this is now said to be having a knock-on effect with some of the cultural aspects of the team. PSG, who currently top Ligue 1 with an eight point margin and sit a point clear in Group A of the Champions League,now

find themselves in a position whereby the majority language within the club is not French and the language is fading out in the dressing room as a result, according to a report in Marca. It claims that manager Mauricio Pochettino barely

uses the French language at all, instead addressing his players instead primarily in his native Spanish or English. While in England, Pochettino spoke with a translator throughout his time at Southampton and when he was

Vitesse Arnhem Baptism for Conte at Spurs Tonight EUROPA CONFERENCE

TODAY

Before making his return to the touchline in the Premier League, Antonio Conte's first match in charge of Tottenham Hotspur will come in the Europa Conference League tonight when his new side play host to Vitesse Arnhem. Conte was appointed as the new head coach of Spurs on Tuesday on a deal until the end of next season, the north London club moving quickly to get the 52-year-old after sacking Nuno Espirito Santo on Monday. The Italian has enjoyed great success in management, notably winning the Premier League in charge of Chelsea in 2017 and the Serie A title last season with Inter Milan. However, now he takes charge of a club that has won nothing since a League Cup in 2008 and is currently in ninth place in the Premier League, five points outside the top four. The inaugural Europa Conference League offers a viable path to silverware for Conte at Spurs, but they are already playing catch-up at the halfway stage in Group G. A 1-0 defeat away to Vitesse in the Netherlands a fortnight ago left Tottenham in third place with four points, two points behind the Dutch side and three adrift of group leaders Rennes. It is therefore important for Conte that he gets off to a winning start, although it remains to be seen if he will rest key players with an eye on Sunday's match at Everton. The likes of Hugo Lloris and Son Heung-min have hardly featured in the group stage, but the Vitesse coach already said he hoped to be facing full-strength opposition, including Harry Kane.

Europa League Brondby v Rangers Lyon v Sparta Prague Monaco v PSV Sociedad v Sturm Graz L’Warsaw v Napoli Leicester v S’Moscow Olympiacos v E’Frankfurt R’Antwerp v Fenerbahce Galatasaray v Lokomotiv Marseille v Lazio C’Zvezda v Midtjylland Braga v Ludogorets Leverkusen v Betis Ferencvaros v Celtic Genk v West Ham D’Zagreb v Rapid Wien

Europa Conference Antonio Conte...expecting a ‘baptism of ﬁre’ in North London this night

Roma v Bodoe/Glimt U’Berlin v Feyenoord Tottenham v Vitesse

approached by Tottenham, they told him he must speak English in public. Now, some of his South American coaching staff are reported to have a good command of French, but it is not the go-to language of the squad as a whole and the players now realise this. A long-standing tradition of the PSG hierarchy was to ensure new signings took up the learning of the language so as to converse with team-mates both socially and in a professional capacity, though this is said to have stopped. Star man Kylian Mbappe, playing in the capital of his home country, reportedly makes an effort to speak Spanish or English.

Fellow English speakers such as Idrissa Gueye and Abdou Diallo do likewise, switching from their preferred tongue. Neymar, Angel Di Maria and Keylor Navas are said to never use French, but they do understand it. New arrivals, such as Lionel Messi and Nuno Mendes, however, have no knowledge of French and still to more familiar languages to converse. Sportsmail reported back in 2014 that when Pochettino was approached by Tottenham while Southampton manager, they underlined the importance of him speaking English. Pochettino was known to speak English in private with his Saints squad but used an interpreter for his media commitments to articulate himself more precisely.

AS Roma Handed Suspended Stadium Ban AS Roma announced yesterday they are taking a zero tolerance attitude towards racism after their fans racially abused AC Milan players during a Serie A game, resulting in the club being handed a suspended closure of a section of the Stadio Olimpico. Lega Serie A issued a statement on Tuesday saying that discriminatory and racist chants were aimed at Milan players Zlatan Ibrahimovic and Franck Kessie during Sunday’s 2-1 victory for the Rossoneri in Rome. The Curva Sud section, home

to the club’s hard-line ‘Ultras’ groups, was guilty of hosting those targeting the duo with abuse, and the league issued a one-year suspended sentence of closing the stand for one game. "There is zero tolerance of racism in any form at AS Roma," the Serie A club said in a statement. "For many years the club has been deeply committed to tackling racism and all forms of discrimination. As an organisation we continue to do everything possible to advance positive change."

Eben-Spiff, Bolaji Emerge Winners at Indian Cup Golf Tournament The weeklong Indian Cup Golf Tournament was wrapped up last weekend at the golf section of Ikoyi Club 1938 in Lagos with an 18-hole closing round for gentlemen, guests and veterans. Peter Eben-Spiff and Bolaji Martins were winners in their respective categories of the main event walking away with business class tickets courtesy Qatar Airways.

The tournament which teed-off with the caddies and professionals round on Monday October 25, also featured lady players a day later and ran a full field of competitors for the coveted Indian Cup on Saturday October 30. Chairman of the Indian Golf Foundation , Sunil Thadani, described this year’s edition as a ‘fruitful one’. “The turnout of players this

year was very impressive, and the support we got from different corporate bodies including Pepsi, African Industries, Qatar Airways and Zenith Bank amongst others who believe in the Indo-Nigeria business relationship was overwhelming. “As businesses continue to recover from the setback of Covid-19, we believe India Cup was the perfect event

for our sponsors,” he noted with glee. Thadani reiterated the commitment of the Indian Golf Foundation in continuing to support the game’s development through the India Cup platform. In all, over 400 players turned up for the event at different levels, leading to last Saturday’s finals where Eben-Spiff shot 77, six over par to pick the best gross prize.

In the net category, Bolaji Martins returned 67 to lead the pack, leaving Yomi Sanni with the runner up prize and C. Ekeocha at third place. At the prize presentation ceremony, the Chairman of Ikoyi Club 1938, Mr Mumuney was full of praises for the week long event and all that it did in further strengthening the bond between the Nigerian and Indian communities.

Thursday, November 4, 2021

UT H

& RE A S O

Price: N250

MISSILE

Iyorchia Ayu to APC “I believe the other party (All Progressives Congress) can never hold a convention because even state congress they cannot hold. They have produced 92 state chairmen for 36 states. How can they hold a convention?” ––Newly elected National Chairman of the Peoples Democratic Party, Dr Iyorchia Ayu, mocking the ruling APC for its seeming inability to hold a convention to elect national officers

OLUSEGUNADENIYI THE VERDICT

olusegun.adeniyi@thisdaylive.com

Of Banditry and Whataboutism L

ast Thursday, Information and Culture Minister, Alhaji Lai Mohammed responded to an article in The Economist, ‘Insurgency, secessionism and banditry threaten Nigeria.’ Quite naturally, the minister faulted a number of assertions in the London-based magazine. That of course is his job, and he did it well. But his attempt to make light of the collection of taxes by bandits in Northwest communities is concerning. Here is what the minister said: “Do you know how many places in this country where area boys collect taxes? And there is no terrorism or banditry there. I don’t want to mention names. In many of our cities, they carve out their own territory. So, it is not indicative that the bandits have taken over. No. I know many areas in Nigeria both in the South and the North where these kinds of things happen. So, it is not the same thing.” The minister can make his point that bandits have not taken over the country without the allusion he offered. But it is also typical. Rather than look for solutions to mounting security challenges, officials of this administration simply invent convenient excuses. And nobody seems more adept at what is now glibly referred to as ‘Whataboutery’—a Soviet-era propaganda tactic that seeks to draw attention away from the issue under discourse by pointing out a similar challenge elsewhere—than the Information and Culture Minister. That is how he would compare ‘Area Boys’ with bandits who are not only killing, maiming, raping and kidnapping hundreds of people for ransom but have made going to school a high-risk enterprise in many states in the North after forcing people to abandon their farms. From Zamfara to Katsina, Kaduna and Sokoto States in the Northwest, as well as Niger State in the Northcentral, many local governments are home to rural dwellers who regularly pay protection money to bandits just to stay alive. That is the issue the federal government must deal with, especially given Tuesday’s raid at the University of Abuja staff quarters by bandits who took away a Professor and members of his family. In its latest report, the ‘Nextier SPD Violent Conflict Database’ reveals that in one calendar year (September 2020 to September 2021), “Nigeria recorded 890

Lai Mohammed incidents of violent conflicts resulting in 3,787 deaths, 340 injured persons, and 2,542 kidnapped persons. 90.3 percent of the fatalities were civilians, while the balance of 9.7 percent were security agents.” These violent eruptions were ranked into such categories as Banditry, Farmer-herder conflicts, Terrorism, Extrajudicial killings, Cultism, Armed robbery, Civil unrest, Communal clashes, Group conflict, and Maritime piracy. “When ranked by the total number of victims, which is calculated as the number of casualties, injured and kidnapped, banditry is still the first with 78 percent of the total victims,” according to Nextier Founding Partner, Patrick Okigbo IIII in his paper, ‘Stemming the Tears’ presented at last week’s 27th edition of the Nigeria Economic Summit. At a forum on insecurity in Yola, Adamawa State, also last week, former National Health Insurance Scheme (NHIS) Executive Secretary, Prof. Usman Yusuf corroborated that finding. “I am from Katsina

(State) where the president comes from. Before this government came, we did not know what IDPs look like (but) now, a third of my state, the president’s state, is under siege by bandits. Our capital city is filling up with IDPs, we never saw that. The president doesn’t call to commiserate with us, (he) doesn’t speak about banditry. Listen to him each time he talks about insecurity; he talks about Boko Haram. Banditry is more difficult and more lethal than Boko Haram, and I will tell you why. Boko Haram (members are) located in one place—the northeast. Bandits are all over this country.” And then the clincher: “We are not going to wait for any government that lies with propaganda and say, ‘oh they have been decimated’; ‘we are going to take the war to them’—all that nonsense.” Perhaps the Information and Culture Minister should listen more to his colleague at the Ministry of Interior. On Tuesday, Ogbeni Rauf Aregbesola said that as terrorism, banditry and other serious cross border crimes continue to proliferate in the country, there should be concerted efforts to counter them. Particularly noteworthy was Aregbesola’s summation that while the security agencies in Nigeria are still operating an 18th century crime prevention model, the sundry criminal cartels that they contend against have already adopted 22nd century strategies for their nefarious activities. It is bad that the Minister of Information and Culture sees little wrong in a situation in which criminals create fiefdoms for themselves by collecting taxes from rural dwellers. Worse is that he is unwittingly admitting to the growing number of ungoverned spaces across the country where outlaws have taken over. The concern here is the danger of ‘Whataboutism’ when dealing with security challenges. Politicians who deploy it, according to Larry Ruark, in his ‘Sun Chronicle’ column on Tuesday, do so “to escape accountability, to justify what appears to be an unwise or illegal action, or to divert attention away from unpleasant events, actions, speeches or opinions that cannot be logically or morally defended.” I share the view that the international media have lately been hard on our military without considering the number of their personnel, the meagre resources at their disposal and the fact that the internal security

role for which they are saddled is constitutionally that of the police. With the proposed capital budget of N28 billion in 2022 for the entire Nigerian army (an amount not up to what some federal government agencies vote for miscellaneous expenses) the Chief of Army Staff, Lt General Farouk Yahaya, yesterday lamented at the senate on lack of adequate financial investment in the military. The minister is therefore right to defend our military from unfair attacks. But to compare bandits with opportunistic Lagos touts is to take ‘Whataboutism’ too far. To borrow a common Yoruba parlance, nobody can call a dog a monkey for some of us. Bandits are not area boys. They are mass murderers who kill, maim, rape and kidnap. What Alhaji Lai may not appreciate is that when we promote this kind of narrative, according to a recent editorial in the London Observer regarding the danger of false equivalencies, “We effectively promote the tolerance of intolerance, allowing fringe groups that are clearly harmful to compare their platforms with those that are reasonable.” As I argued in my column last week on ‘Banditrocrazy’, it is the defensive way operatives of this government speak about bandits that have made many Nigerians suspicious of their actual endgame. That is perhaps what pushed the two chambers of the National Assembly into passing separate resolutions urging the president to designate outlaws as terrorists. But following the Area Boys comparison, the former Senator representing Kaduna North, Shehu Sani, on Monday offered the Information and Culture Minister another idea. He cynically suggested on his Twitter handle that the bandits simply be designated as ‘federal civil servants’! NOTE: Three weeks ago, I began a series based on the report of a study conducted by the late President Umaru Musa Yar’Adua on subsidies in five critical sectors of our national life (power, education, health, agriculture, and petroleum). Although I am yet to run the aspects touching on agriculture and petroleum in the 2008 report, I am taking a pause today for the intervention by my friend, Bolaji Abdullahi, on options available for funding tertiary education in Nigeria. The conversation continues.

BOLAJIABDULLAHI GUEST COLUMNIST

Higher Education: Why FG Needs to Step Back

have been following with keen interest Olusegun Adeniyi’s columns on the issue of subsidy in critical sectors of our national life, including education and I want to make some quick points. The key issues to consider when discussing the funding of higher education are effectiveness and efficiency. The first has to do with whether the amount being spent is adequate; and the second, with whether the money is being spent in the best way possible. The funding of Nigerian universities is currently not meeting either of the two tests. A former Vice Chancellor of the University of Lagos, Professor Rahmon Bello identified five key funding sources for a university. These include tuition fees, proprietor’s fund, endowments, research, and innovation grants and, investments and businesses. Now, federal universities draw their funding mostly

from the proprietor’s fund alone, while, according to him, 90-95 per cent of the universities’ budgetary receipts go to personnel cost. What this means in essence is that our universities are existing mainly to pay salaries rather than to perform their core duties of teaching and research. Funding of education needs to reflect the national priority. Today, it does not. Available reports indicate that Nigeria spends up to four times on higher education than it spends on basic education. This conflicts with global and regional pattern on education spending. In almost all the countries of the world, governments invest the bulk of their resources on basic education, which is the only level of education that must be free, compulsory, and universal, as a matter of right. It is quite ironic that basic education that has been statutorily declared as free and compulsory

has become the most expensive level of education in Nigeria. As parents lose confidence in the ability of public schools to educate their children, they now mostly prefer fee-paying private schools. The grand irony also is that even parents who were prepared to pay so much for basic and secondary education have come to expect tertiary education to be free. Therefore, ours is perhaps the only country in the world where it is more expensive to get basic education than to get a university education. This absurdity has been sustained by government’s fallacious policy of free university education which has mostly served to cover up its failure to develop a needs-based university system. Our post-secondary education system is too narrow and therefore leaves the universities as the only real choice left to our children. Therefore, looking at the long line of children waiting to enter the

universities, government instinctively responds by expanding access. Whereas, what we need to do is to provide real options by creating opportunities for post-secondary education that delivers real skills and globally recognised certifications in different sectors that meet the requirements of available jobs, most of which do not even require a university degree. One continues to wonder why it is difficult for government to see that its pre-occupation with expanding access to university education without corresponding direct investments in teaching and research has not only brought down quality, but is also compounding the youth unemployment situation, which remains a time bomb. The painful truth is that university education has worked better for parents in this country than it is currently working for their children. This is not natural. NOTE: Concluded on page 14

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