TUESDAY 23TH NOVEMBER 2021 by THISDAY Newspapers Ltd

Honeywell Group Agrees N80bn Deal with Flour Mills of Nigeria Firm to acquire FirstBank’s 5.06% equity in Honeywell Transaction will create strong national food champion Nseobong Okon-Ekong and Kayode Tokede The Honeywell Group Limited has announced an agreement for the proposed combination of

Honeywell Flour Mills (HFMP) and Flour Mills of Nigeria (FMN) for a total enterprise value of N80 billion. According to a statement, through the transaction, the

Honeywell Group would dispose of its 71.69 per cent stake in HFMP to FMN, as it seeks to continue its journey of strategically refining and growing its investment portfolio while

consolidating in sectors the company currently operates. In addition, Flour Mills also entered into an agreement with First Bank of Nigeria Limited to acquire the bank’s 5.06 per

cent equity in HFMP. At its core, the proposed merger, which is subject to regulatory approval, would see two businesses come together that have over the years established

themselves as innovators and leaders in the food manufacturing industry. Beyond this, however, it creates Continued on page 11

CBN Partners Payment System Providers, Fintechs to Deepen eNaira Adoption... Page 5 Tuesday 23 November, 2021 Vol 26. No 9724. Price: N250

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Lawan: Govs Should Have Dialogued, Not Combative over Direct Primaries Declares matter now out of legislature’s control Says N'Assembly expects Buhari to sign Electoral Act Deji Elumoye in Abuja President of the Senate, Dr Ahmad Lawan, yesterday, said governors, who were uncomfortable with the

choice of direct primaries as the mode of electing candidates by political parties, should have dialogued with the National Assembly and other stakeholders as against their

combative approach, which failed to yield result. Lawan, who said the National Assembly expected nothing less from President Muhammadu Buhari

aside signing the 2021 Electoral Act Amendment Bill into law, however, said the matter was now out of the control of the legislature the moment it was transmitted to the

president for assent. Speaking with newsmen yesterday after meeting with Buhari at the State House, Abuja, the Senate President said, the Na-

tional Assembly had done its job by transmitting the recently passed electoral amendment bill 2021 to Continued on page 11

With Buhari's Consent, APC to Hold National Convention Feb 2022 Stakeholders to determine exact date

Deji Elumoye in Abuja

The coast appears clear for the ruling All Progressives Congress (APC) to elect a new set of national officers, as President Muhammadu Buhari, yesterday, gave the party the go-ahead to hold its national convention in February 2022. But Chairman of the APC National Caretaker Committee, and Governor of Yobe State, Mai Mala Buni, assured that all stakeholders would be involved in the choice of the particular date in February for the convention. Briefing newsmen in Abuja after a closed-door meeting with Buhari at the State House, Chairman of the Progressive Governors' Forum (PGF), and Governor of Kebbi State, Atiku Bagudu, said the issue of national convention, which was also the highlight of last weekend's meeting of the APC governors, was tabled before Buhari, who gave the party the go-ahead to hold the convention next February. Continued on page 11

AFRICAN PRESIDENTS' WIVES ON PEACE MISSION... R-L: First Lady of Burundi, Dayubaha Angeline; First Lady of Sao Tome and Principe, H.E Maria de Fatima Villa Nova; First Lady of the Republic of Congo Brazzaville, Madame Antoinette Sassou Nguesso; President Muhammadu Buhari; First Lady of Nigeria and President, African First Ladies Peace Mission, Aisha Buhari; First Lady of Republic of Ghana, Rebecca Akufo-Addo; First Lady of Republic of Sierra Leone, Fatima Maada Bio, First Lady Republic of Congo, Madame Antionette Sassou Nguesso and First Lady of the Islamic Republic of Mauritania, Mrs. Marieme Fadel-Dah, during the opening ceremony of the 9th General Assembly of African First Ladies Peace Mission (AFLPM) Summit held at the State House Conference Hall, Abuja ... yesterday PHOTO: GODWIN OMOIGUI

NAFDAC: Nigeria Has Met WHO’s Conditions for Local Vaccine Manufacturing... Page 6

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

NEWS

CROSS SECTION OF WIVES OF SERVICE CHIEFS... R-L: Wife of Chief of Defence Staff and President and Leader Defence and Police Officers Wives Association, (DEPOWA), Barrister Victoria Lucky Irabor; Wife of Chief of Army Staff, Hajiya Mrs Faruk Yahaya; Wife of Chief of Naval Staff Hajiya Aisha Gambo (on Red attire); Wife of Chief of Air Staff, Mrs Elizabeth Olubunmi Isiaka-Amao and Wife of Inspector General of Police, Hajiya Hajara Usman Alkali Baba, during the African First Ladies Peace Mission (AFLPM) Summit held at the State House Conference Hall, Abuja ... yesterday PHOTO: SUNDAY AGHAEZE

CBN Partners Payment System Providers, Fintechs to Deepen eNaira Adoption Says apex bank not competing with banks Unveils digital financial inclusion programme for women, youths James Emejo in Abuja and Olusegun Samuel in Yenagoa The Central Bank of Nigeria (CBN) yesterday said it was working with key stakeholders in the payment system ecosystem to boost the adoption of its digital currency known as the eNaira. The stakeholders, particularly Payment Service Providers (PSPs) and a community of fintech groups, after a one-day engagement with the apex bank in Lagos, resolved to partner to ensure more adoption of the CBDC in the country. Speaking at the meeting, the CBN Director, Information Technology Department (ITD), Mrs. Rakiya Mohammed, explained that the apex bank was neither competing with the Deposit Money Banks (DMBs) nor other actors in the Nigerian payment system environment. Essentially, the engagement was in continuation of the bank’s strategy to bring all stakeholders on board what Mohammed described as a journey. She said the CBN remained open to suggestions and innovation aimed at adding value to the eNaira and improving the user experience. The CBN director urged the payment service providers (including the large community of fintech groups) to find more innovative ways to support members of the public, where possible, in the onboarding process and use of eNaira as well as develop solutions for offline eNaira functions including cards, wearables, USSD, among others. While also admonishing the licenced PSPs to create additional use cases for the eNaira, she tasked licenced PSPs to create additional products and services across the full spectrum of the financial system using eNaira. Mohammed further disclosed that the full implementation of the eNaira, which started with the onboarding of the banked, would be done in four phases, culminating in offline eNaira

payments solutions, cross-border payment and interoperability of the eNaira with those of other central banks. However, their taking turns, representatives of the different stakeholder groups welcomed the introduction of the eNaira and expressed support for its adoption and use. They also made value-added proposals for the market and integration process to drive financial inclusion by bridging the gap between the banked and the unbanked. Also, going forward, the CBN team and the different stakeholder groups agreed to meet periodically to review the progress made to enable more Nigerians access eNaira. On the CBN team were the Director, Banking Services Department, Samuel Okojere; Director, Payment System Management Depart, Musa Jimoh; Director, Risk Management, Dr. Blaise Ijebor; the Director, Financial Policy and Regulations Department, Mr. Chibuzor Efobi; and the Special Adviser to the CBN Governor on Payment Systems, Mary Fasheitan. The different groups present at the engagement were from Payment Service Banks, Switching and Processing companies; Mobile Money Operators; Payment Solution Service Provider; Payment Terminal Service Providers; and Super Agents. Also present were representatives of the Chartered Institute of Bankers of Nigeria (CIBN); the Nigerian Inter-Bank Settlement System (NIBSS); Shared Agent Network Expansion Facilities (SANEF); and the Committee of banking Industry Heads. CBN Governor, Mr. Godwin Emefiele, had said the eNaira would support a resilient payment ecosystem, encourage rapid financial inclusion, reduce the cost of processing cash, enable direct and transparent welfare intervention to citizens and increase revenue and tax collection. Also, he had

said the eNaira would facilitate diaspora remittances, reduce the cost of financial transactions, and improve the efficiency of payments. Emefiele added, “Therefore, the eNaira is Nigeria’s CBDC and it is the digital equivalent of the physical naira. As the tagline simply encapsulates, the eNaira is the same naira with far more possibilities.” Meanwhile, as part of efforts by the federal government to make sure every eligible Nigerian own a bank account and be financially included, the central bank yesterday commenced the digital inclusion drive for woman and youths in Bayelsa State. Introducing the scheme in Kaima, Kolokuma/Opokuma local government area of the state, the state Governor, Senator Douye Diri, advised rural dwellers in the state that the only way they could benefit from various governments micro-credit and empowerment

programmes and be financially included was by having valid bank accounts. The governor who encouraged the rural dwellers in the state to take advantage of the CBN financial inclusion drive to open their bank accounts, noted that the present administration in the state has various financial and empowerments programmes, and others in partnership with the federal government, which can only be access through a bank account. Diri, who was represented by a Permanent Secretary in the office of the Secretary to the State Government, Mr. Anthony Orwells, said, "There are a number of empowerment programmes, a number of them the state government is in partnership with the CBN and other federal institutions while some of them are entirely by the state government. "However, you will need a bank

account to be financially included through a bank account, hence the need to encourage financial inclusion to ensure everyone including the rural dwellers benefits and is carried along in the scheme of things." In his speech, the Director, Development Finance Department of the CBN, Yusuf Yila, said the nation's apex bank has discovered that most rural dwellers could not be captured for various empowerment initiatives because of bank accounts, which necessitated the financial inclusion drive. Represented by the Head of Development Finance, CBN, Yenagoa branch, Mrs. Augustina Osuya, he explained that the financial inclusion drive was expected to, among other things, improve financial literacy and build awareness on the benefits of the use of digital financial services and contribute to increased access to payments, savings and credit

enhancement opportunities for rural women and youth across the country leveraging digital platforms. He pointed out that the scheme was aimed at empowering and bringing more women and youth across Nigeria into the finance ecosystem in line with the CBN digital financial inclusion project. While calling on the rural women and youths to grab the opportunity to open their bank accounts, he urged financial institutions to join and take the exercise seriously to bring all financially excluded on board. In her remark, the Woman Leader of Kaiama Mrs Tonbra Egbegi, commended the CBN for bringing the initiative to their doorsteps and saying that the drive will give the rural women and youth the opportunity to open their bank accounts conveniently without having to travel to the state capital.

NUPRC to Support FG’s Gas Expansion Programme, Improve Domestic Use Emmanuel Addeh in Abuja The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday pledged to support the Nigerian Gas Expansion programme (NGEP) of the federal government to improve domestic utilisation of gas for power, industrialisation in order to deepen Liquefied Petroleum Gas (LPG) penetration in the country. A statement by a senior official of the organisation, Mr. Paul Osu, quoted the Commission's Chief Executive Officer, Mr. Gbenga Komolafe, as restating the commitment when the NGEP Chairman, Dr. Mohammed Ibrahim visited him in his office in Abuja. The federal government had said that the programme was envisioned

to lift millions of Nigerians out of poverty through the establishment of gas-related outlets that would serve the public when fully realised. The Minister of State for Petroleum Resources, Mr. Timipre Sylva, recently disclosed that the NGEP was designed to expand gas supply as well as to stimulate demand in Nigeria, adding that the programme had already taken off in some states of the federation With a proven gas reserves of over 206 trillion cubic feet (tcf) and prospects of an additional 600tcf, the minister explained that natural gas presents an opportunity for the nation to use gas as a catalyst for its socio-economic renaissance. Komolafe stressed that the NUPRC being a product of the Petroleum Industry Act (PIA)

2021 responsible for technical and commercial regulation of upstream petroleum business was fully prepared to ensure that Nigeria’s gas resources are fully harnessed. He assured that the vision of the commission was to become a 21st century regulator that would enable business for investors and meet the aspirations of government. The NURPC boss emphasised the importance of NGEP to the national economy and praised the commitment of his guest to national goals, especially in the domestication of gas in Nigeria. Komolafe reiterated that the commission will provide all necessary support for NGEP within the provisions of the PIA 2021 to enable it achieve its mandate.

In his comments, Chairman of NGEP, Ibrahim, assured the commission’s chief executive of his pledge to drive the domestication of gas for job creation and for alternative energy source. He said that there was enough molecules of gas available in the country to achieve the domestication of gas and appealed for institutional support from NUPRC for the success of the scheme, adding that NGEP offers unique opportunities to unlock gas potential in Nigeria. “President Muhammadu Buhari launched the NGEP programme as part of government’s commitment to provide alternative energy source for Nigerians and create jobs to uplift people out of poverty,” the statement stressed.

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ABUAD CONVOCATION CEREMONY... L-R: Ekiti State Governor, Dr. Kayode Fayemi; Modupe Babalola; Founder, Afe Babalola University (ABUAD), Afe Babalola (SAN) and Borno State Governor, Prof. Babagana Zulum, during the ABUAD convocation ceremony in Ado-Ekiti…recently

NAFDAC: Nigeria Has Met WHO’s Conditions for Local Vaccine Manufacturing To prioritise COVID-19, malaria vaccines Ehanire clarifies alleged N200bn roll-back malaria loan Onyebuchi Ezigbo in Abuja The federal government has said the country is now in position to embark on the local manufacturing of vaccines. Part of the reason for Nigeria's inability to go into manufacturing of COVID-19 vaccines locally used to be that it lacked the regulatory capacity to guide and maintain requisite standards in the vaccine production venture. But the Director General of the National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Mojishola Adeyeye, who gave update on efforts to attain conditions set by the World Health Organisation (WHO) for the manufacturing of COVID-19 vaccines during the media briefing by the Federal Ministry of Health in Abuja, yesterday, said the agency has

successfully met 368 recommendations given by the world health body. "This journey started in January, 2018 and WHO gave us 868 recommendations to meet before being recognised for maturity level three. We have been on that journey and it is good to share this audience that as at October 15, 2021, we have no other recommendation to meet. “So from 868 to nil that is where we are. Nigeria is now closer to manufacturing our vaccines locally and it will no longer be because of the regulatory agency," she said. Adeyeye said part of the requirements, was that the agency would have to expand and equip its two drug and vaccine laboratories in Yaba and Oshodi to attain the specified standards. According to the DG, attaining the global benchmark in laboratory

AKK Pipeline: GACN, NNPC to Engage States on Gas Usage Chuks Okocha in Abuja The Gas Aggregation Company of Nigeria (GACN) in conjunction with the Nigerian National Petroleum Corporation (NNPC) and the Nasarawa State government have concluded plan to organise a business roundtable on the economic benefits of the Ajaokuta-KadunaKano (AKK) gas pipeline project to host states. The move was a follow-up to the 2021 Kano Gas Stakeholder’s Forum. A statement from GACN’s Public Affairs Advisor, Ruqaiyah Saidu Abubakar, stated that the roundtable which was billed for November 25, 2021, would birth a Gas Supply MOU between NNPC, GACN, and Nasarawa State government involving multi-party joint working teams. According to the statement: “A multi-parties team has already commenced gas

commercialisation discussions with various state government representatives to determine the gas needs of AKK States for their priority projects. “Consultations with key gas solution providers are ongoing to provide an end-to-end, highlevel competitive and robust near-term gas supply plan to meet the gas requirement of the identified critical gas and power demand clusters, free trade zones, and industrial zone parks in the various states.” The statement explained that GACN and NNPC have so far executed MOUs with Kano and Kaduna states while discussions with Kogi and Nasarawa states was at finalisation stage. Furthermore, it stated that GACN and NNPC were collaborating with the Nasarawa State government to hold a Nasarawa Gas Business Roundtable engagement in Lafia on the 25th of November 2021.

facility was a key requirements for proper regulation of vaccine manufacturing. She explained that part of the regulatory would involve laboratory testing, clinical trials and marketing controls. Adeyeye, however said even though the country has fully met all the recommendations, the WHO would be sending a team to come and verify them before a formal certification is issued to Nigeria. While assessing the performance of the agency in the rollout of the COVID-19 vaccination campaign, Adeyeye said NAFDAC's innovative vaccine supply chain monitoring technique had won global recognition. In clarifying issues about the N200 billion alleged borrowing for implementation anti-malaria intervention programme, the Minister of Health Dr. Osagie Ehanire, said the idea that government intended to deploy N82 billion for purchase of mosquito net was false and misleading. He described the borrowing plan as part of a World Bank assisted Malaria Roll-back Intervention programme which

had been under implementation since 1998. Ehanire said: "It has become necessary for the Federal Ministry of Health to response to some publications that the Ministry has presented a budget for N82 billion for procurement of mosquito nets. This is misleading and is not representing the facts of the matter. "The amount in question is apparently referring to component of a World Bank assisted multilateral borrowing plan for Nigeria that involves the African Development Bank and the Islamic Development Bank." Ehanire said the purpose of budgeting the amount was to fulfill Nigeria's obligation on the counterpart funding agreement meant to compliment the grants being given to the country to execute the global malaria action plan known as the Roll-Back Malaria partnership. The minister said that the project was set up in 1998 by the WHO, UNFPA and World Bank and was endorsed by African leaders in the year 2000, adding that the initiative has been going on and goes beyond mosquito net

alone but involved treatment and other measures meant to curtail malaria scourge. He said that as a result of the various anti-malaria interventions over the years, Nigeria was able reduce malaria prevalence to as low as 23 per cent as at this year. Ehanire said contributions to the anti-malaria fund were in three folds with the Global Fund contributing $400 million, the grant from United States of America Presidential Malaria Initiative to the tune of $195 million. He said the fund was to be used to cover 11 states of the country while the $400 million provided by the Global Fund to fight AIDS, tuberculosis and malaria was meant to implement programmes in 13 high-burden states in the country. He explained that the remaining states that had no fund allocated to them to fight the diseases, Abia, Anambra, Bayelsa, Borno, Edo Ekiti, Enugu, Ondo and Ogun, Lagos Rivers and FCT respectively, have full coverage of the country and as a condition for the development partners to release their own grants, they

want Nigeria to be responsible for the remaining states, in order to make it a three-way project of United States, Global Fund and Government of Nigeria. While defending the borrowing plan, Ehanire said malaria had become a very deadly and killer disease that claims many lives yearly. He said available reports showed that malaria is the highest killer is children under the age of five in Nigeria with 30 children dying of the disease every day Earlier, a member of the Presidential Steering Committee on COVID-19, Murktar Muhammad, said the committee was concluding plan to organise a major summit on COVID-19 pandemic interventions in Nigeria which was scheduled to hold from December 6th to 8th, in Abuja. According to him, major stakeholders such as the Ministries, National Assembly, state governments, Commissioners of Health, key private sector players and development partners would be attending the summit to articulate further strategies to help bring an end to COVID19 pandemic in the country.

Child Marriage, African Method of Legalising Rape of Girls, Says Sierra Leone’s First Lady Michael Olugbode in Abuja The First Lady of Sierra Leone, Mrs. Fatima Maada Bio has called for an end to early marriages on the African continent, insisting that child marriage was nothing but an African method of legalising rape of girls. Bio who has pet projects, “Hands Off Our Girls” and “School Sanitary Pads,” said it was quite unfortunate that child marriages were allowed to fester on the continent. She said: “Early marriage of

girls is a means of legalising way of raping girls. Because if you are to force a child into marriage at the age of 11 and 12 years, 13 and even up to 17 that is an abuse. And I believe it is an African method of legalizing raping of girls.” She said this cannot be allowed to continue, stressing that all should come together to put a stop to it by outlawing it. Bio who said she has already started the move to end early marriages on the continent, noted that when she started her

campaign she involved seven other First Ladies. The First Lady said: “When I started the campaign, I started it with launching it with about seven other First Ladies, and they have all gone back and they have put their own projects because we cannot all call our projects: ‘Hands Off Our Girls”, they have given different names but we are all conveying the same message.” She insisted that the First Ladies were on similar projects to end rape, to end early marriages

and allow the girls to be in school. She, however, said it was not in her place to force other African First Ladies to replicate her projects in their countries, but she however, “see it as African problem, which must be dealt with.” Bio said her projects and interventions had led to sentencing of many involved in rape cases in her home country and also emboldened rape women to come out to seek justice.

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COMMODITY STANDARDS SENSITISATION WORKSHOP... L-R: Director General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda; Kano State Deputy Governor, Dr. Nasiru Yusuf Gawuna; representative of the Emir of Kano, Alh Sheu Mohammed Dankade and Director General, Standards Organisation of Nigeria (SON), Mallam Farouk Salim, during the Commodity Standards Sensitisation Workshop in Kano State...recently

Banditry, Kidnapping Along KadunaAbuja Road National Shame, Says ACF John Shiklam in Kaduna The Arewa Consultative Forum (ACF) has described the attacks and kidnappings along the KadunaAbuja road as a national shame, declaring that it is “completely unacceptable.” The forum in a statement by its spokesman, Mr. Emmanuel Yawe, yesterday, condemned the killing on Sunday of Alhaji Hamida Sagir, a retired Director of Protocol at the Federal Capital Development Authority (FCDA) and a governorship aspirant in Zamfara state. Sagir was said to have been killed by bandits along the Kaduna-Abuja road while several others were said

to have been abducted. The ACF lamented that on a daily basis, Nigerians were being terrorised, kidnapped and killed without let on the road, noting that both the Kaduna state and the federal governments which owned the highway appear to be helpless in securing the lives on this road. The statement added, “the ACF is becoming agitated by the unrestrained acts of terrorism on the strategic highway between Abuja the Federal Capital and Kaduna the former capital of defunct northern region “On a daily basis, Nigerians are being terrorised, kidnapped and killed without let on this road. This

is a national shame and completely unacceptable to our forum. “The latest victim of this act of terror is Alhaji Hamida Sagir, a retired Director of Protocol at the Federal Capital Development Authority FCDA and a governorship aspirant in

Zamfara State who was shot and killed at Rijana. “Indeed Rijana has become a popular spot where these terrorist attacks are committed on a daily and routine basis. “This is a challenge that the security agencies must overcome.

The panel of inquiry set up by the Lagos State government to unravel the immediate and remote causes that led to the collapse of a 21-storey high-rise building at Ikoyi, has given tomorrow as deadline for the submission of memoranda by members of the public and relevant stakeholders. The Chairman of the panel, Mr. Toyin Ayinde, explained in a statement that the panel was given 30 days to complete its task, and begun sitting immediately after the inauguration by Governor Babajide Sanwo-Olu. He said the panel has been holding formal interviews with witnesses from Tuesday, 16th November, 2021, in order to identify the roles played in the activities that led to the collapse of the building. According to him, the panel also received the report from the consultants who conducted verticality tests on the remaining structures standing in the premises of the collapsed building, saying results of the tests on the construction materials were still

being awaited. "The interviews conducted have been recorded for the purpose of record-keeping, and the Tribunal would meet as many as are willing to present credible and factual statements, with evidence(s), relating to the collapse," Ayinde stated. According to him, the Tribunal has so far received documents from some government Ministries, Department and Agencies (MDAs) which it had started studying, adding that it had also interviewed some of the Lagos government "staff in the relevant MDAs." Ayinde said the purpose of the press conference was to apprise the media and the general public on what the Tribunal had done so far, and what the Tribunal activities were likely to be in the remaining days ahead. The Tribunal which comprises six professionals in the private sector, and who are certified members of their professions, began sitting immediately after its inauguration on Thursday, 4th November, 2021. He added: "There may have been concerns or agitations

governments to save Nigerians from this security nightmare. The statement condoled with the immediate family of the slain Hamida Sagir and the Zamfara state Government and prayed Almighty God to give them the fortitude to bear the tragedy.

Rabiu’s ASR Africa Initiative Hands over Newly Built 150-bed N4bn Hospital to Police The Abdul Samad Rabiu Africa Initiative (ASR Africa) has donated and handed over a newly built 150-bed hospital

to the Nigerian Police in Abuja. The initiative is the brainchild of the Founder/Executive Chairman of BUA Group, Abdul

Ikoyi Building Collapse: Tribunal Issues Deadline for Submission of Memoranda Segun James

We are worried that everyday Nigerians are attacked at this same spot and our security men seem helpless in sorting out the security problems that make such attacks on the same spot easy.” The forum called on both the Kaduna state and the federal

about why the Tribunal has not spoken to the press. We will like to state that members of the Tribunal are professionals, and our calling demands that we make statements from informed and verified positions. “We are compelled to speak only when investigations have been made, reports and documents submitted, queried, analysed and discussions held with relevant stakeholders. "So far the activities of the Tribunal have included: Setting up the Secretariat and arranging logistics for the successful conduct of activities.” He said further: "A visit to the site of the collapse on Friday, 5th November, for a general assessment of the rescue operations, and to determine areas where expert consultants’ services would be required. "A visit to the General Hospital, Broad Street to interview some of the survivors who could offer some eyewitness accounts. "Engaging the services of consultant building materials testing laboratory for the purpose of addressing item (e) of the TOR.

"Engaging the services of a consultant Land Surveyor to conduct verticality tests on the remaining structures within the premises of the collapsed building. "Writing the relevant Government MDA’s to request for all files and documentation relating to the collapsed building. Writing to all consultants and developer/ contractors associated with the project on 44 B,C,D Gerrard Road, Ikoyi; and Listing more than 30 stakeholders relevant to the construction industry and the collapsed building, whose views, position papers and recommendations would be received and considered. Those that the Tribunal consider necessary to chat with would be invited." Ayinde said the Tribunal’s mode of communication would be to brief the media through press releases as and when required, to ensure members of the public were aware of the conduct of the proceedings, calling for cooperation of the media, while expressing the belief that, "together with all stakeholders the problem would be solved on a permanent basis.”

Samad Rabiu. A statement yesterday, explained that the hospital, which was the first donation of the ASR Africa to the Police, was called the “ASR Africa Police National Reference Hospital, Abuja.” The facility was developed at a cost of N4 billion with funding drawn from the annual $100 million ASR Africa Fund for Social Development and Renewal. Speaking at the physical handover of the hospital building to the Inspector General of Police (IGP), Usman Alkali Baba, Rabiu said the hospital project was conceived out of the desire to provide the best healthcare services and facilities for the Nation’s security operatives. “The ASR Africa Police Hospital will bring qualitative healthcare closer to the people that protect lives and properties in the country as well as other Nigerians who will also be able to utilise the facility,” he added. In his comments while receiving the original certificate of occupancy from the representatives of ASR Africa, Baba, commended the philanthropic work of the founder of BUA Group. The IGP said the ASR Africa Police National Hospital was conceived, completed, and built to standard in record time without any hitch. “We are really grateful to ASR Africa and Alhaji Abdul Samad

Rabiu for this first-of-a-kind donation of a mega hospital to the Police. It is heartwarming to know that there are patriotic individuals like Alhaji Abdul Samad Rabiu who are genuinely interested in providing support for the thousands of policemen, women, and their families through initiatives such as this.”, he added. Also speaking on the activities of the ASR Africa Initiative, Ubon Udoh, its MD/ CEO, said various grants had been awarded to educational institutions, health facilities, governments as well as nongovernmental organisations as part of ASR Africa’s contributions to sustainable development in Africa. “When ASR Africa began, we set aside $100 million yearly for various interventions in health, education and social development. “Within nine months, we have shown how passionate we are about social impact and development especially in the areas of health care delivery, education, social development, and sustainable infrastructure across the country and Africa. The brainchild of African industrialist, philanthropist and Chairman of BUA Group, the ASR Africa was established in April 2021, to provide sustainable, impact-based homegrown solutions to developmental issues affecting health, education and social development within Africa.

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ELEVEN

ECOWAS: Fighting Terrorism without Attacking Root Cause, an Exercise in Futility Michael Olugbode in Abuja The Economic Community of West African States (ECOWAS) Commission has said fighting terrorism without attacking the root causes was an exercise in futility. The Commission, which traced the root cause of terrorism in the West Africa to cases of weak governance, poverty, youth unemployment and human rights abuses, lamented that Boko Haram attacks in the Lake Chad Basin alone in the last 10 years had led to more than 30,000 deaths, with terrorism displacing over three million people in the region. Speaking at the launch of the Early Warning Study on the Spillover of Violent Extremism to ECOWAS Coastal Member State in Abuja, the Vice President of ECOWAS Commission, Madam Finda Koroma said: “It would be illusionary to fight against terrorism without attacking its root causes, such as bad or in some cases, weak governance, poverty, youth unemployment and human rights abuses.” She said data from the ECOWAS Alert and Response Network (ECOWARN) showed that the havoc perpetrated by Boko Haram alone had resulted in more than 30,000 deaths, in less than 10 years of subversive activities, in addition to the physical attacks on the populations and the territorial integrity of ECOWAS’ s member states. She lamented that terrorism

has unprecedented humanitarian consequences, stating that to date, more than three million people are displaced. Koroma added: “After north-east of Nigeria, the Lake Chad Basin, the Sahel, the Northern Part of Mali, the threats escalated in the Liptako-Gourma region; made up of Niger, Mali and Burkina Faso. “From the north of Mali and Burkina Faso violent extremist groups conducted attacks in the southern part of these members states. “Since 2019, the southwestern regions of Burkina Faso have seen an escalation of jihadist presence from JNIM’s Katibat Macina, who are present in the Cascades region and in the forests along the Ivorian border. “This explains why Côte d'Ivoire saw a major escalation of violent extremism throughout 2020, including its first jihadist attacks since the 2016 Grand Bassam incident. We all remember the Park W Pendjari abduction in Benin.” She noted that under the instructions of the Heads of States, the ECOWAS Commission has been working to address this multifaceted issue, with the goal to achieve peace and security in the region. She disclosed that: “With regard to these root causes in the prevention and the fight against terrorism, the ECOWAS Commission has made the "nexus" between security and development its major area of focus.” She revealed that various strate-

gies and programmes had been put in place to combat terrorism in the region. Koroma, however, said the fight against terrorism does not rest solely on member states or the ECOWAS Commission, and to this end, “in the joint policy statement, the Authority of ECOWAS Heads of State and Government

have called on the international community, development partners, relevant international organisations and civil society organisations to coordinate their activities with ECOWAS Commission.” Also speaking at the event, Nigeria’s Minister of Foreign Affairs, Geoffrey Onyeama said the impact of the responses on

said they don't like it this way. But that's normal. So, it's for us to engage and engage and engage. And I believe that.” Asked if the legislative arm was ready to let go of direct primaries if need be, the Senate President said: “This is not something that we should be talking now, because it has passed the legislature and it's no more with the legislature. “So, this is something that is now with Mr. President. If we are talking about the electoral amendment bill, the National Assembly has finished its work. And the bill has been transmitted to Mr. President. And I think at this moment, all eyes will be on what happens to the bill from the executive side rather than the legislature. “Yes, of course, when we send a bill to Mr. President, we expect the bill to be signed. But there are two things that can happen. Mr. President could decide to of course, after consultation with his advisers, sign, or if he doesn't want to sign he may have his reasons. “But I believe that whatever we do in the National Assembly, especially, this Ninth National Assembly, we think deep, we think wide, we will consult very broadly before we take any position. So, I believe that whatever we send to the executive arm of government, Mr. President for his assent, these are things that are well thought out. “And I believe that the expectation of members of National Assembly will be that this bill is signed. But this is then again, not my own calling, it is for Mr. President to take his decision.” On what the President’s response was, Lawan said: “No, I'm not supposed to tell you what the President said, because Mr. President has his spokespeople. So, I am neither Femi Adesina nor Garba Shehu. And my opinion is National Assembly has done its work. And members of National Assembly have expressed themselves. This is the majority view and is for Mr. president to look at it and of course, expectation of National Assembly is to get the Presidential assent.” Speaking on how long he thought

by the Director, Africa Multilateral Affairs, Amb. Ngozi Ukaeje added: “It is evident that the Kinetic approach towards combating terrorism is yielding positive results but that alone cannot provide the total solution. There is need for more emphasis to be placed on non-kinetic approaches to complement the kinetic approach.”

HONEYWELL GROUP AGREES N80BN DEAL WITH FLOUR MILLS OF NIGERIA a platform for one combined entity to help in Nigeria’s push for food security and the goal of feeding a nation with a booming population of over 200 million. The merger also comes at a strategic time when the opportunities stemming from the African Continental Free Trade Area (AfCFTA) are finally coming to the fore, the statement added. Speaking about the transaction, Honeywell Group Limited Managing Director Obafemi Otudeko said, “This announcement is in line with the evolution of Honeywell Group and our vision of creating value that transcends generations. For over two decades, we have supported Honeywell Flour Mills to build a strong business with a production capacity of 835,000 metric tonnes of food per annum. “Following the transaction, Honeywell Group will be strongly positioned to consolidate and expand its investment

activities, including as a partner of choice for investors in key growth sectors.” To bolster this point, the Group Managing Director of Flour Mills of Nigeria, Omoboyede Olusanya, said: “The proposed transaction is aligned with our vision not only to be an industry leader but a national champion for Nigeria. We believe that this will create an opportunity to combine the unique talents of two robust businesses. “As a result, we will have a better-rounded and more comprehensive skill set available to us as a combined diversified food business, thus enabling us to better serve our consumers, customers and other stakeholders, whilst providing employees with access to broader opportunities.” Together, both companies have a combined track record of more than 85 years and, once completed, this merger will see them bring together the resources and manpower

LAWAN: GOVS SHOULD HAVE DIALOGUED, NOT COMBATIVE OVER DIRECT PRIMARIES Buhari and that the expectation was for him to sign it into law. He was of the view that President Buhari should not be stampeded into signing the bill until he was properly advised by the relevant Ministers and aides. Speaker, House of Representatives, Hon Femi Gbajabiamila, had last Thursday said the president was in support of direct primaries after they met at the Presidential Villa. Many of the governors, across the two main political parties, were against direct primaries and have urged the president not to sign the bill it into law, because of the clause that mandated political parties to conduct direct primaries in selecting candidates. Commenting on how the ruling All Progressives Congress (APC) could ensure stability, when governors as critical stakeholders were not happy with direct parities as contained in the bill, Lawan said: “Well, you see, sometimes this kind of disagreements happen. And when they do, I think the best way forward is for people to engage. “I always believe, and I've conversed for this, that National Assembly members are major stakeholders, governors of APC are major stakeholders and in fact, the presidency is a major stakeholder, in fact, the biggest stakeholder, because it runs the administration, and our party must always try to bring everybody together. “I don't think there will be any day that you will have a political issue that everybody will say the same thing about it that agrees with you without any amendment. So, when we have any section of a party disagreeing with something, we should be engaging. “That's why we are politicians. We must have that kind of a platform, where we discuss the issues. Let's understand each other, and then we make whatever it is that will make this disagreement minimised. Or maybe were possible, eliminated completely. “So, I don't think it is right to say that governors have disagreed. Maybe some governor's might have

counter-terrorism going on in various areas of operations required terrorists to find climes where they can retreat and recuperate. He said: “All member states affected must therefore put more efforts to eliminate these conditions that facilitate the activities and movements of terrorist groups.” Onyeama, who was represented

it might take the President to assent to the bill, he said, “I don't know why this appears to be the only issue. You see, there is no need for you to lobby for any bill to be signed if you are the chairman of the National Assembly, because you are simply a presiding officer, and you coordinate the views of your colleagues. “The majority of my colleagues in the Senate and in the House of Representatives say this is where they want the bill to go. This is the provision they want in Section 52, 3 rather. So, I don't have to come and say Mr. President, sign this. Mr. President has his own processes when a bill is sent to him from the National Assembly. “I'm sure he has the Attorney General and others to advise him. So, why should I stress myself to say, just sign? We expect that he will sign, but how he does that is his calling. And I think we should allow him to just follow the processes he is used to, but the expectation of members of National Assembly is that the bill is signed.” Lawan, however, said his meeting with the President was to consult on the current situation in both the National Assembly and the ruling party, APC. According to him, “We are considering the 2022 budget and we hope that by the middle of December, or before Christmas, we should be able to consider and pass the budget by the grace of God. Work has reached a very commendable level, as we expected on that. Also, you know that we have impending issues in our party. We have our congresses still to be conducted in few states about two or three. And of course, going forward, how we are able to reconcile the different shades of opinions that are causing disagreements in the party. “You will recall that the party, with the endorsement of Mr. President, had constituted a national conciliation committee under the chairmanship of Distinguished Senator Abdullahi Adamu. And we are very optimistic that, the committee with all other leaders in the party, we'll be able to reconcile

our people in different parts of the country, who might have disagreed. “You also know that we have legislation that are awaiting the consideration of Mr. President, and for us in the legislature, we've finished our job of passing the bills, particularly, the Electoral Act, Amendment Bill, is now for Mr. President, to engage with his assistants and those who normally advise him, for him to take the next most appropriate action. “We are also very desirous of ensuring that the the APC is so stable before the Congress, the convention, ultimately, because we want our convention to be hitch-free. We want every member of this party, who comes to attend the convention to do so with a clear mind that whoever becomes the Chairman, for example, whatever leadership emerges, is a leadership that has the respect of everyone in the party, because we want Mr. President to continue to work with a solid and strong party, APC. “We want this administration, and President Muhammadu Buhari to continue to do the very good work it is doing across the country and consolidate at the end of his tenure. Before then, we are very hopeful that we are able to have projects, the legacy projects like the second Niger bridge, the Abuja-Kaduna-Kano highway, the Lagos-Ibadan, and, of course, these kind of projects, we want to ensure that we are able to get them commissioned by Mr. President. So, we discussed a lot of things, both in government in the party. “And of course, the security situation in the country can never escape our discussions. And we believe that we have done far so well, in the North East; we have done far so well in the South-south, especially, the Niger Delta. And our challenge is in the North West, and we are determined to ensure that we give the government every possible support. Mr. President wants to ensure that before he leaves, that the Northwest, like the other parts of this country,would experience better stability than we're enjoying today."

that have led to a wide variety of market-leading products ranging from a combination of Flour Mills of Nigeria’s grain-based foods, sugar, starches, oils, spreads and breakfast cereals to HFMP’s diverse and differentiated range of carbohydrate products. “Usually, transactions like this raise questions of job security. How many staff will be retained? How many will be let go? Those are important questions worth asking. However, according to official statements, the merger is “about creating a stronger combined business” to enhance growth prospects and potential future job creation. “It isn’t expected to impact the workforce or operations of either business heavily,” the statement added. According to Honeywell, the sheer size of the transaction would even provide employees of the consolidated company with more opportunities to develop their careers and improve the quality of their skills within the parameters of a new and enlarged organisation. “In theory, this also means the new company will have even more fuel to inject more jobs into the economy. One of the overall impacts of this deal was the potential for innovation

that it creates. “Currently, food demands in Nigeria exceed supply. However, the creation of this new entity, first of all, better positions it to produce food at higher capacity and eventually develop a strategic network that encourages export across the world, particularly to Nigerians in the diaspora who remit billions of dollars back to the country every year,” it added. It pointed out that HFMP would remain listed for the foreseeable future as it promises to maintain “the highest standards of corporate governance in the best interest of all shareholders, including minority shareholders.” To this end, and per the current capital markets rules, the company stated that it would initiate a Mandatory Takeover Offer (MTO) to allow the minority shareholders to offer their shares at the transaction price. “As this deal closes, Honeywell Group intends to continue its journey of refining and growing its investment portfolio. This will see it consolidate in sectors where it currently operates, such as real estate, energy, financial services, infrastructure. It also intends to announce more strategic initiatives in the coming months,” it added.

WITH BUHARI'S CONSENT, APC TO HOLD NATIONAL CONVENTION FEB 2022 Bagudu, who was in company with Buni and Jigawa State Governor Abubakar Badaru, said, "Yesterday, November 21, the Progressive Governors Forum met and, as some of you might have seen in press reports, I spoke after the meeting, where, in addition to congratulating and thanking the caretaker committee for a wonderful job of their leadership of the party, thanked Mr. President for supporting them to deliver on their mandate. “I also explained that the Progressive Governors Forum discussed the issue of national convention of the party and they mandated us to come and discuss with the president, as party leader, to give the inputs of the governors so that the party and the president will consider in agreeing a date for the national convention." The governor disclosed that four states were yet to hold their state congresses due to logistic problems. He expressed the hope the between now and January next year, they would have concluded their congresses ahead of the February convention. Bagudu explained, "Part of the inputs we got was that we still have four states, which are in the process of completing their congresses – Anambra, understandably, because of the election, Zamfara, and two others that because of logistic challenges are yet to complete. Christmas is around the corner, and, then, early January will be very busy with Ekiti." Bagudu said, "The governors, based on all that, made an input that we think the party and the president might graciously consider February and the president is favourably disposed and I'm

sure the party, because the chairman of the caretaker committee was part of the delegation, he heard that and I'm sure they will conclude between him and the president. But we have made the input of the governors known. It was favourably considered by Mr. President." On his part, Buni said wider consultations would be made among stakeholders before picking a particular date for the convention in February. He stated, "We have to consult widely and part of the reasons why even the governors met yesterday, 20 of the 22 governors attended. So, it is in consultation to that effect. It is a well consulted, well thought out plan. "We will let you know. We have to work on a timetable, which, of course, has to be. We have to communicate it to our various state chapters for them to be ready for the convention. Like the PGF chairman said, they have suggested to the party and Mr. President has concurred. So, we are going ahead to plan for the convention in February." Buni also stressed that he would be glad to return to his state as a full time governor after the ad hoc duty of APC caretaker chairman. Rejecting suggestions of possible extension of the caretaker committee’s tenure, Buni declared, "Am I a jobless person, who is always trying to extend his tenure? To do what? I have my primary responsibility as a governor, to go back to my state and carry out my primary responsibility. What I'm here to do is ad hoc, and, of course, to reposition the party, and that is exactly what we're able to achieve."

TUESDAY NOVEMBER 23, 2021 • T H I S D AY

T H I S D AY • TUESDAY NOVEMBER 23, 2021

T H I S D AY •TUESDAY, NOVEMBER 23, 2021

COMMENT

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

THE TASK OF NATION-BUILDING

Nation-building is a dynamic process and a continuous journey, writes Muhammadu Sa’ad Abubakar, Sultan of Sokoto

his is undoubtedly one of the most important issues in Nigeria today. It has always been so, but today the suspicions and the fears and the challenges of national unity and cohesion have reached a crescendo that is threatening the continuity of the republic. Admittedly this clamor is driven by ignorance and emotions rather than knowledge and foresight. It is therefore important that it is addressed by experts and statesmen so that Nigerians will be more informed and nation-building process will be salvaged from the short-sightedness of poorly informed local champions. The NIPSS is the most befitting place to discuss and thrash this important issue, being the think-tank of the nation and the repository of the nation’s memory and wisdom. Nation-building is used to refer to the tasking and delicate process of state formation. While nations come into existence as a result of historical events, but nations are no historical accidents. They are a result of the hard and difficult process of keeping a polity together by among other things efforts to galvanize citizens to acquire that common sense of belonging and national cohesion through gradual social integration. By its nature nation-building is dynamic process and is a journey, not a destination. Nations have to continuously be built to maintain that cohesion necessary for the nation to summon its national assets and to succeed in the competitive world of nation states. We can see how nations that are thought to be well settled and established keep going back to address some of the more fundamental bases of their existence. Almost every nation state which has succeeded in evolving into a stable enviable polity today went through several trials and tribulations before getting there. So if it is any consolation, Nigeria is not alone, in fact a number of countries have had to fight several wars to arrive at where they are today. Europe have many such states, but today they operate like a single big nation under the European Union. After several wars fought they discovered that they need each other after all and that they are better together than separate. That they have gone to several length to keep this union and made heavy investment and sacrifices should be enough lessons for us today. As historians know very well, until the emergence of the modern nation state some 200 years ago or so, human societies were largely organized under empires of varying sizes which often go to war to protect their economic assets or incorporate other polities to grow their economy. During this phase of human history plural societies gradually integrate into each other, creating new communities and new language groups. The search for knowledge as well as the search for livelihood through trading were the more regular processes driving integration. Occasional natural disasters causing migration also add to the causes of the evolution of the different communities. By and large, these movements are gradual and cumulative and over time disparate communities adjust, fuse and evolve into new communities. It is essentially these phenomena which produced the succession of the empires in the West African region from Ghana, Borno, Mali through Songhay and Sokoto Caliphate.

DEMOCRACY HAS GIVEN RIGHTS TO CITIZENS TO EXPRESS THEMSELVES AND THESE RIGHTS ARE IMPORTANT AND SHOULD BE GUARANTEED; BUT THE EXERCISE OF SUCH RIGHTS MUST NOT BE AT THE EXPENSE OF THE PEACE AND PROGRESS OF THE POLITY

The coming of European imperialism which occasioned the colonization of African communities and the drawing of arbitrary borders, forcing separate communities to come together and the separating of single community into disparate parts created havoc to this otherwise gradual and more natural process of human integration. These colonial disruptions appear to constitute the greatest challenges of nationbuilding in Africa today. Prior to colonization, state formation in Africa was far more gradual, humane and robust. It is therefore important we do not lose sight of this important point. The Sokoto Caliphate for example (to speak about an experience I am more familiar with) was unprecedented in size and population, plural in both religion and ethnicity, yet even the British resorted to its administrative structure to run its colonial rule. What facilitated the social integration of the Sokoto Caliphate is the love for strangers, the cosmopolitan disposition and the desire to spread the message of Islam beyond the confines of the polity which all added to the economic growth and peaceful coexistence in the polity. Many of these ideas were actually state policies clearly spelt out in the many books written by the leaders of the Caliphate. These books were not issued ‘from on high’, even as the stature of the scholars and the hierarchy of society grants them that privilege, yet there were rigorous debates and often disagreements between themselves. These disagreements were not fundamental and were done with such decorum that the respect, nay reverence, among the hierarchy was not in any way affected. It is a measure of their selflessness, scholarship and maturity that never led to any disruption of obedience to constituted or moral authority. It only brought quality and thoroughness in their leadership. We should not lose sight of the fact that today in Nigeria, there are quite many who promote all manners of hatred and uncultured utterances because that is the only way they can become prominent and for some it has become a means of livelihood. Democracy has given rights to citizens to express themselves and these rights are important and should be guaranteed; but the exercise of such rights must not be at the expense of the peace and progress of the polity. So while remaining democratic we must find a way to curtail those who wish to injure our corporate interest as a people and as a country. It is my hope that these experts will do justice to this important matter. I also urge us to learn from the lessons of others in the Americas, Europe and Asia, but particularly lessons of our precolonial societies and polities that have held sway for nearly one thousand years before the coming of Europeans. In Nigeria we have a lot of lessons from the older polities such as Kanem-Borno, Oyo and Benin Kingdoms and of course the Sokoto caliphate. It is time to return home and look inwards for the solutions to our problems rather chasing foreign models. I believe that the collective wisdom of our pre-colonial societies will give us fresh insight in the search for solutions to the problems of Nation-Building. Excerpts from remarks by the Sultan of Sokoto at the recent NIPSS Graduation Lecture

I SCRATCH YOUR BACK

Washington Osa Osifo writes that the political class in Edo is endangered

very upward looking society crave for good leadership. Indeed great leaders are most wanted for what they could do with their gifts and talents to revolutionize development. Their dreams and visions are always so distinctly unique that even in times of drift, their mere presence instill hope and confidence. In that quest, sometimes, a shot in the dark occurs resulting in fortuitous contraption. Edo State has just now been entrapped in such a cobweb. Statecraft has suddenly become rocket science while security of lives and properties are attended with laissez faire attitude. Government promises on paper are advertised with bold face as monumental achievements at national fora to the chagrin of dumbstruck populace. Worse still, is that, the display of executive powers to inflict deep wounds on citizens is phenomenal and has continued to fuel a feeling of imminent slip into the precipice. In the circumstances, sound logic dictates that the people should disenthrall themselves from the mess and rescue the State. Apparently, the pre- election hype, the ballyhoo, the gaudy tinsel of rhetoric and the massive hope, ballooned to high heavens has turned out as mere hot gas! The most fanatical supporters of the governor patiently waited for a developmental momentum to no avail. Unarguably, ‘Alaghodaro Annual Talk Shop’ stands out as the greatest legacy project in these perilous times. Let it be known that no matter how much you try, an empty sack cannot stand erect! I recall vividly that in 2016, a stealthy figure silhouetted against the silver lines of the then Governor of Edo State, Comrade Adams Oshiomhole impressive stewardship, suddenly emerged on the political stage as a gubernatorial messiah. He rode on the shoulders of the then boss who fiercely fought every opponent to pave way for him. Being relatively unknown, it was the lot of his campaign handlers to clean him up and properly identify

him before the people. As an aspirant, he looked unsure-footed. As his confidence built up over time, a whiff of eccentricity and unpredictability began to be increasingly noticed. Make no mistake about it, it was a classic shot in the dark that berthed a bull in a china shop! Everyone and everything before him was untrustworthy and a target for destruction. First, he stereotyped the entire political class as unproductive. As governor, he organized a group of brutal media attack dogs and marshaled every ounce of gubernatorial power and influence against his benefactor. He led an onslaught against the leadership of the state APC, disorganized and dismembered them. When they obstinately refused to succumb, he hounded them down individually. He had a long standing plan to weaken the legislature under his administration. No one will forget so soon how, in 2019, particularly on 17 June, figment of impeachment imagination triggered his phobia to attack the elected members of Edo State House of Assembly. Till date, Obaseki has continued to rule Edo State without a properly and legitimately constituted house of assembly as defined by Section 91 of the constitution of the Federal Republic of Nigeria. Governor Obaseki was disqualified from running for a second term under the APC. He cried blue murder from the limbo of frustration and was rescued by the Peoples Democratic Party (PDP) who bent backwards over to accommodate him. He won the election and was sworn-in for another four years tenure. Less than six months in office under the PDP, he literally asked the leadership of the PDP to hand over the structures of the party to him. To those who rescued him from the limbo of hopelessness, taking over the party structures was a superfluous request, as it did not form part of the deal since he was not going to run for a third term. Rather than deploy emotional intelligence to negotiate a win-win compromise, Obaseki resorted

to iron fist measures by directing the suspension of the commanding chieftains of the party. Let us be more categorical here. Chief Dan Orbih ostensibly personalized the PDP struggle for nearly two decades at about the same time that Comrade Oshiomhole rescued Obaseki by making him chairman of the state economic team. How dare you try to uproot such an entrenched colossus? The National Leadership of the PDP rightly denied him conspiratorial support. Beyond politics, the errant governor even dared to disagree with the most sacred of our institutions on matters that are not strictly within the state government‘s purview. History is a great teacher. Those who cannot learn from the lessons of history are doomed to repeat it. The political environment has no room for outsiders. Any political milieu that admits an outsider into the most powerful leadership position would have only invited a killer virus to itself. Party politics is a collective endeavour anchored on common political ideology and interest which are rolled out on acquisition of power through fair competition. The parties are additionally organic entities driven by certain group values, norms, traditions and the principle of reciprocity which are expressed in patronage. Members imbibe these ideological and operational values and norms through active participation in the political process over time. These values promote party spirit, energize foot soldiers and hold the party together as a united front. A party stands endangered if an individual who has not been sufficiently groomed to internalize group values suddenly becomes the leader. The need for systematic grooming and orientation of members is informed by the fact that the action of men proceeds best from their need, belief, passion and character. It should ordinarily form the basis for leadership recruitment.

In 1933, the Germans made the mistake by allowing Adolf Hitler to rise to power on the platform of the Nazi Party. The World has not recovered from the impact of Hitler’s tyrannical rule ever since. Recently, we witnessed how Donald Trump suddenly emerged as the President of the most powerful country of the World, the United States of America. Donald Trump demystified America, its entrenched vision, together with the dreams of its founding fathers and made it look like a banana republic where bizarre exceptions became the order of the day. In both instances, mainstream politicians were outwitted and totally paralyzed. A lethal mix of ambition, fear, and miscalculation conspired against them and they unwittingly handed power over to an autocrat. If the individual so thrown up is a charismatic outsider, as it is often the case, he would leave no stone unturned to woo and win public sympathy, as he challenges the old order. Many times, the divided political class falls prey as the political insurgent smartly plays one group against another on the political chessboard to his advantage. Among mainstream politicians, there are the fickle-minded, the ones bereft of principles, good conscience and character, commonly referred to, as ‘Any Government in Power ( AGIP)’. They are pro power or pro establishment who would try to co-opt or align with the toxic outsider for their stomach sake. This sort of devil’s bargain often mutates to the benefit of the insurgent. Godwin Obaseki may not have been thrown up as President of Nigeria but as the Governor of Edo State, a subnational body, he runs the State with iron fist. Today, the political class is clearly endangered and embattled in Edo State. It’s time to break away from the tranquility of sit-down-look and servitude and rise to the exigency of the moment. Dr Osifo wrote from Uhunmwode Constituency, Edo State

T H I S D AY • TUESDAY, NOVEMBER 23, 2021

EDITORIAL TIME TO REGULATE FERTILITY MEDICINE Legislation is needed to set standards for assisted reproductive procedures

f there is one area of healthcare in Nigeria that has not enjoyed robust regulation, it is the Assisted Reproductive Technology (ART) branch. It has for long been overlooked by governments and experts in the field who, in fact, should set standards and checkmate activities of practitioners of this branch of science. From human egg harvesting, in-vitro fertilisation itself, up to advertorials on ART success rates, many practitioners in Nigeria are having a field day without much monitoring; all at the expense of patients who crave for these allimportant public and social health services. In a recent investigation by Aljazeera, some fertility clinics in the country are harvesting eggs of young girls in exchange for money. In many cases, underage victims are coerced into trading their eggs monthly even though the World Health Organisation (WHO) has said no one female should have her eggs harvested more than twice a year. The health body has also stated that egg harvesting, just like IN THE NIGERIAN SOCIETY, blood donation, FERTILITY IS NOT JUST must not be traded ABOUT HEALTH, IT IS A for financial gains. SERIOUS SOCIAL ISSUE There are sevTHAT REQUIRES EVERY eral other reports ATTENTION IT DESERVES of substandard services to couples seeking in-vitro fertilisation with some not only disappointed with failed outcomes but end up having serious health concerns relating to their procedures. Others have had to pay huge amounts so they can get young, and in many cases, underage girls, to carry their unborn babies. Some simply buy these babies under the arrangement of fraudulent ART centres. All these orchestrated by otherwise trusted fertility clinics in the country. It is estimated that at least one in four Nigerian couples will have one or more forms of fertility issues. Pressure from the Nigerian society on childbearing pushes a chunk of these couples to seek artificial reproductive assistance. However,

Letters to the Editor

laws and policies are not being developed fast enough to meet the demands of this growing industry; a loophole that has now been taken advantage of by quacks and even some otherwise known fertility clinics.

R 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

ecently, the Managing Director, Nordica Fertility Centre, Dr. Abayomi Ajayi raised the alarm that lack of regulation of the branch of science was having a field day in the country. “More than 60 per cent of people offering IVF service in the country do not have the facilities but due to the perceived financial benefits and patronage, doctors and health workers who know little or nothing about IVF have continued to take advantage of couples in need by offering services. I am calling for the strengthening of regulations in this area of medicine,” he said. A Bill for the establishment of a Nigerian Assisted Reproduction Authority to regulate this practice was presented before the National Assembly and read for the second time on 2nd May 2012. It was referred to the Committees on Health and Justice at the time. It is almost 10 years now, and it has not been passed into law. Although some practitioners kicked against the bill at the time saying it was a ‘copy and paste’ from East Africa, the onus is on the legislators and the stakeholders to remodel the bill. Nothing has been done so far on this. Except Lagos which has passed a law on IVF, the remaining 35 states are yet to enact any legislation to regulate fertility medicine. Although some practitioners in Nigeria have formed the Association for Fertility and Reproductive Health (AFRH) to produce ethical guidelines that would govern the practice of assisted conception in the country, they cannot enforce these guidelines. Legislations from the National Assembly and the states houses of assembly are therefore required to properly regulate the sector. In the Nigerian society, fertility is not just about health, it is a serious social issue that requires every attention it deserves.

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.

OF EXPENSIVE COVID-19 PCR TESTS

ndoubtedly, a lot has changed in the aviation industry across the world due to the COVID-19 pandemic. To many regular air travellers, flying though still remains the fastest and most effective way of travelling, but it has remained expensive and COVID-19 has further aggravated the costs of travelling. The commercialisation of COVID-19 testing process raises ethical concerns. Besides being a public health crisis, COVID-19 continues to trigger severe social and economic consequences for individuals, corporate organisations and governments across the world. Generally, the consensus is that this trend of “new normal” is not expected to reverse anytime soon. Air travel is no longer a luxury but a necessity. To many travellers, no matter how much addicted to flying, they are confronted with a twin challenge — cost of travelling and high costs of COVID-19 tests. While it is not out of place to commend the government and aviation authorities for ensuring compliance to COVID-19 regulations and guidelines, it is also necessary to state that the COVID-19 test protocol put in place is good, but the inconsistency in costs of getting tested suggests an incentive of profiteering is at play. The extortionate price of PCR tests for passengers is such a huge financial burden especially for travellers who are crisscrossing different countries and glaringly, many travellers are displeased with the egregious prices of conducting COVID-19 tests. Nigeria just like many other countries do not only require a negative COVID-19 test from a passenger’s country of departure, but also an

additional test upon arrival. These tests are paid for by passengers and are usually conducted regardless of vaccination status. The high cost of COVID-19 tests for people seeking to travel out of the country and also returning back is quite scary and unfair especially with current economic realities. While the prices seem unregulated across states, many laboratories have decided to take unfair advantage of this COVID-19 season. Today, there are some private accredited labs conducting these tests but they don’t come cheap. Private labs in Abuja, for example, charge upward of N36,000. In Lagos, a private test costs 50,400. Many travellers going to and fro cough out about N72,000 (Abuja) or N100,000 (Lagos). While the national conversation on solutions to the COVID-19 crisis is centred on mass vaccination, which is still key to combating the spread of the virus, the government must lead the campaign in ensuring digitalised vaccination cards showing an individual has been fully vaccinated and accepted as proof. Even if COVID-19 test protocols will be put in place, the state should ensure that it is done at a regulated and affordable price. The excessive COVID-19 travel costs symbolise escalating inequality in the wake of the pandemic. As many private laboratories enjoy a COVID-19 windfall, making huge profits on testing, the less wealthy, or those who have businesses, average persons, and business executives travelling for scheduled business meetings and conferences are forced to forgo their trips as travelling is now becoming something only the rich can afford. The relevant authorities must intervene in addressing this issue. Alao Abiodun, alaojoshua200@gmail.com.

WHY ARE TEACHERS RESIGNING?

hen I had a lengthy after work meeting about organising the meeting schedule so that more people could attend more of the current meetings I knew it was time to leave teaching. I could have had a glass or two of wine that night to settle down, but I still had a few hours of correction and red wine stains on test papers are not appreciated. I loved teaching, when I just taught. Dennis Fitzgerald,Melbourne, Australia

TUESDAY NOVEMBER 23, 2021 ˾ T H I S D AY

NEWS

#EndSARS Report: Group Wants Buhari, Sanwo-Olu to Resign As Adegboruwa alleges treat to his life Wale Igbintade A group, New Nigeria Network in conjunction with #EndSARSUnited, has called for the immediate resignation of President Muhammadu Buhari and Governor Babajide SanwoOlu following their indictment in the report of the Judicial Panel on the Lagos EndSARS Protest.. The group also called for the immediate release of all young Nigerians arrested and allegedly dumped in various prisons all over the country in the course of the #EndSARS struggle. Addressing a press conference yesterday in Lagos, one of the lawyers that represented EndSARS protesters, Mr. Adesina Ogunlana also called for the immediate resignation of the Minister of Information, Alhaji Lai Muhammed, for allegedly spreading lies and false information about the Lekki incident. Ogunlana also called for the immediate recall of former Chief of Army Staff, General Turkur Buratai (rtd) who is the current Nigerian Ambassador to the Republic of Benin to be prosecuted for his role in the Lekki killings. The Judicial panel had in its report indicted the Nigeria

Army, Governor Sanwo-Olu, and the Nigeria Police. Ogunlana said: ‘’We are convinced beyond doubt that the military personnel who carried out the massacre at the Lekki tollgate could not have acted without clearance from the President of the Federal Republic of Nigeria and Commander-in-Chief of the Armed Forces, General Muhammadu Buhari (rtd). ‘’We place the blame of the Lekki massacre at the doorstep of General Buhari and demand his immediate resignation.’’ We are of the view that in view of the evidence presented by the Lagos State Government before the Panel of Inquiry vis-à-vis the issues raised by the Panel, the Panel has found based on the invisible balance of evidence that there was a massacre at the Lekki tollgate. ‘’While Lagos State Government is calling for restraints, it cannot set loose its hunting dogs. We do not need to remind the Lagos State Government that the Panel of Inquiry was constituted by the Lagos State Government itself and have on the Panel as members, serving civil servants and board representatives of the same government. There is no Minority Report and the entire Panel Report was

Don Urges Buhari, Govs to Rescue Nigeria from Forces of Criminality Kemi Olaitan in Ibadan A criminologist, Prof. Kayode Adedeji, yesterday asked President Muhammadu Buhari, state governors and local government chairmen to rescue the country from what he described as the “grip of destructive forces of criminality”. This is just as the Nigerian Society for Criminology, called for knowledge based intervention and synergy among all levels of government to nip security challenges in the bud. Adedeji gave the charge in his remarks, in a webinar organised by the Nigeria Society for Criminology, entitled, “Criminology and contemporary security challenges in Nigeria” during which papers on different aspects of crime, social problems and security management were presented

by Prof. Adeyinka Aderinto, Prof. Emmanuel Gyong, Dr. Ezeji Chiji, and Dr. Phillip Ndubueze, among others. He said government seems unable to tackle the problems of insecurity partly due to inadequacy of knowledge or due to the fire brigade approach usually employed in addressing issues in Nigeria, urging members of the society to make findings of their researches available to policy actors as their contribution towards ending the spate of insecurity in the country. Aderinto in his paper titled, “Historical and Contemporary overview of security challenges in Nigeria”, traced the origin of contemporary insecurity to trust gap, injustice which birthed ethnic agitations and kidnapping in the Niger-Delta region.

a unanimous one. The Lagos State Government should call its wagging tongues to order as the government itself has

given itself 14 days to deliver a White Paper. He stated that the mayhem and violence recorded in other

parts of Lagos State did not happen at the Lekki tollgate, hence there was no need for any apprehension on the part of

the government or the security agencies to seek to dispel that peaceful assembly, with soldiers bearing lethal weapons.

WORKING TOWARDS ZERO OIL PLAN…

Governor Dapo Abiodun of Ogun State(left), receiving the Zero Oil Plan booklet from the Chief Executive Oﬃcer of Nigerian Export Promotion Council (NEPC), Mr. Olusegun Awolowo, in Abuja…yesterday

Ondo Varsity Shutdown after Violent Protest

Fidelis David in Akure

The management of the Ondo State-owned Adekunle Ajasin University, (AAUA), AkungbaAkoko has shutdown the institution. A statement signed by the Registrar of the institution, Olugbenga Arajulu, urged the students to vacate their halls of residence with immediate effect. The students of the school

yesterday, staged a protest on the campus of the university against the policy of ‘No school fees, No examination’ of the management of the school. The protesters said many of them were yet to pay their school fees and do their registration, and the management of the school has insisted that no student would be allowed to write the examination without paying

the fees. As a result of the protest, the first semester examination which was supposed to hold on Monday was put on hold as no student was able to go to the examination hall to write their papers. It was also gathered that while the protest was ongoing ,the angry students who were chanting various solidarity songs went to the front of the main gate of the university,

barricading the Owo-Ikare Expressway causing traffic logjam for several hours. The President of the Students Union Government of the institution, Kolade Ogunsanmi, who confirmed the protest , however, said the management of the school has reversed the policy. “ There was a protest by the students but the management has issued a circular which has doused the protest”

Ebonyi Community Petitions IG over Murder of Indigene Kingsley Nwezeh in Abuja

The Ugwuma Edda community of Ebonyi State at the weekend petitioned the Inspector-General of Police (IG), Mr. Usman Baba Alkali, over the gruesome murder of a Lagos-based Mr. Kelechi Amos Irem, from Ugwuma Edda, a village in Afikpo South Local Government Area of the state Kelechi was murdered in

cold blood on July 31, 2021, by suspected members of a notorious group called ‘More Kan Be Done.’ The group, the petitioners alleged, was fingered in the maiming and murder of innocent people and destruction of the property of persons whom they consider as enemies or opponents of the state government. The petition titled: ‘Complaint against Messrs Paul Okey

Onu and Ifeanyi Orji Ekea and Many Others at Large of Afikpo South LGA) of Ebonyi State, and illegal and political attempt to prevent their arrest and prosecution by agents of the Government of Ebonyi State,” and authored by the law firm of Mudi Erhenede and Associates (Delta Chambers) on behalf of Messrs. Abia Onyike, Samuel Okam and Imo Chima, acting for themselves and other teeming

members of Edda Rescue and intervention initiative of Afikpo South LGA of Ebonyi State, who hereinafter shall be referred to as ‘Our Clients’. “Our clients have instructed us to write to your esteemed office pertaining the gruesome and cold blooded murder of one Kelechi Amos Irem, who hailed from Ugwuma Edda, a village in Afikpo South Local Government Area of Ebonyi

Unavailability of Interpreter Stalls Arraignment of Two Igboho’s Aides NEPZA Employee Convicted Alex Service (DSS) had on August 31, had ordered for the immediate firearms. Enumah in Abuja for N342m Fraud

Kingsley Nwezeh in Abuja

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has secured the conviction of Mr. Dasel Nanjwan, an employee of the Nigeria Export Processing Zones Authority (NEPZA). Nanjwan, an engineer, was sentenced to three years imprisonment by the Calabar Division of Court of Appeal for holding private interest in a N342 million contract regarding the replacement of warehouses and factories at the Calabar Free Trade Zone. Nanjwan was a member of the federal government technical committee involved

in a negotiation with General Electric (GE) Africa on investments in the Calabar Free Trade Zone as well as the owner and sole signatory to the account of Kwop-ri Services, the company that won the contract. The defendant was initially arraigned by ICPC before a Calabar High Court presided over by Justice Emily Ibok on a five - count charge which include knowingly holding private interest in a N342 million contract connected with an office which he is employed, an offence contrary to and punishable under section 12 of the Corrupt Practices and Other Related Offences Act 2000.

The unavailability of a Yoruba language interpreter yesterday stalled arraignment of Jamiu Oyetunji and Amudat Babatunde, two aides arrested in the July raid of the premises of Yoruba Nation agitator, Sunday Adeyemo, popularly known as Sunday Igboho. The federal government through the Department of State

2021, filed a five-count terrorism charge against the duo at the Federal High Court, Abuja. They were among 12 other agitators arrested early July at Igboho’s residence in Ibadan, Oyo State. The DSS had brought them to Abuja for further questioning, however, following a fundamental rights enforcement suit Justice Obiora Egwuatu

release. Although Oyetunji and Babatunde were among the 12 released on the orders of the court, the federal government is saying there are evidence of commision of crimes by the duo. In the charge marked FHC/ABJ/CR/305/2021, the defendents were accused of involving in acts of terrorism and being in possesion of prohibited

When the matter came up on Monday, defendants’ lawyer, Mr Pelumi Olajengbensi, told the court that her clients do not understand English language, and that they needed an interpreter. Effort by the court to get an interpreter was futile, a situation that forced the trial Judge, Justice Obiorah Egwuatu to adjourn to January 24, 2022, for arraignment.

Serial Fraudster Jailed 17 Years in Kano Kingsley Nwezeh in Abuja

Justice Tukur Muazu of the Kaduna State High Court yesterday convicted and sentenced one Gabriel Chimeze to 10 and seven years imprisonment on separate charges of conspiracy and

obtaining by false pretence. An EFCC statement said the defendant had pleaded not guilty to a three-count charge when he was first arraigned in July 2017, leading to his full trial which lasted five years. In his judgment, Justice Muazu found the defendant guilty on

count one of conspiracy and acquitted him on count two and three. The convict was sentenced 10 years imprisonment without option of fine. The sentence takes effect from 27th July 2017 when he was arraigned. In the other charge, the convict

was convicted on the one count of obtaining money by false pretense. Justice Muazu consequently sentenced him to seven years in prison without an option of fine. The convict was also ordered to restitute the victim a sum of N400,000 only.

T H I S D AY • TUESDAY NOVEMBER 23, 2021

TUESDAY, NOVEMBER 23, 2021 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Nobel Prize Winner Ressa Rules out Exile over Criminal Charges Philippine Nobel Prize-winning journalist Maria Ressa ruled out on Monday going into exile over legal challenges she faces, and her lawyers urged the government of President Rodrigo Duterte to drop all charges against her. Ressa, the first Nobel laureate from the Philippines, shared the Peace Prize with Russian investigative journalist Dmitry Muratov, a move widely seen as intended as an endorsement of free speech rights under fire worldwide. Ressa’s news site, Rappler, had its license suspended, and she has faced legal action for various reasons, motivated, supporters say, by her scrutiny of government policies, including a bloody war on drugs launched by Duterte. “Exile is not an option,” Ressa told a streamed news conference with her legal team, adding that she felt a climate of violence and fear under Duterte’s term was easing before the 2022 elections. Free on bail as she appeals against a six-year prison sentence handed down last year for a libel conviction, Ressa is facing five tax evasion charges and a corporate case with the regulator. “You don’t know what freedom feels like until you almost lose it,” Ressa said from the US city of Boston, where she is on an academic visit. US, Ukraine Scrutinise Russian Troop Buildup Amid Invasion Fears

Russia’s troop buildup along the Ukrainian border is drawing alarm from US officials who are warning of a potential new invasion. Ukrainian officials estimate 90,000 Russian troops are now positioned along the border and in Russian-controlled parts of eastern Ukraine. Earlier this month, the issue topped the agenda when Secretary of State Antony Blinken told Ukraine’s foreign minister, Dmytro Kuleba, that Washington was monitoring the situation “very closely.” “We’re concerned by reports of unusual Russian military activity,” Blinken said at the State Department. Ukrainian Defenxe Minister Oleksiy Reznikov said Ukraine is prepared. He met at the Pentagon last week with US Defense Secretary Lloyd Austin. “Our intelligence, American intelligence, United Kingdom intelligence, they do their job. We’ve compared the search, and we see the same picture. We’ve been living in this hybrid war with Russia for eight years. So for us, it’s not a surprise,” said Reznikov in an interview with VOA. During his meeting with Secretary Austin, Reznikov asked for American support. Despite Reinstatement of PM, Anti-Coup Sudanese Vow to Continue Protest

Despite the military promising to release all political prisoners, protesters have vowed to continue demonstrating for democracy. Sudan’s Prime Minister Abdalla Hamdok has been reinstated in a deal with the military following weeks of unrest sparked by a coup. Hamdok got his power back to continue with the country’s political transition. He had been kept under house arrest since October 25 when the military overthrew his government and arrested some politicians. Sulaima Al Khalifa, a human rights activist in Sudan, said the current deal did not change the situation on the ground.

“We did not expect it. It was a surprise and shock. We fear there is a lot of pressure happening, Hamdok is under pressure because it’s not even logical and what he has done is not even logical according to the serious event that has happened. Because the violation of the rights of the people is still ongoing. Since 25th we don’t have a state,” she said. The Central Committee of Sudanese Doctors said 41 people had died so far since the coup. Maduro Celebrates as Venezuela Ruling Party Wins 20 Governorships

Venezuela’s National Electoral Council (CNE) awarded victory to the ruling Socialist party in 20 governorships and three to opposition politicians in an initial announcement on Monday following local and regional elections. Shortly after the first results were published, leftist President Nicolas Maduro celebrated the government’s triumph. “The victory is impressive,” Maduro said, surrounded by supporters, adding that “good wins must be celebrated.” The results are a setback for the opposition leaders who returned to the fray after boycotting presidential polls in 2018 and congressional elections in 2020, arguing that a fair vote was impossible due to rigging and intimidation by violent gangs loyal to Maduro. Chile Presidential Election Goes into Runoﬀ

A conservative lawmaker with a history of defending Chile’s military dictatorship and a former student protest leader were headed to a polarizing presidential runoff after both failed to garner enough votes to win the South American country’s election outright. José Antonio Kast finished Sunday’s presidential election first with 28 per cent of the vote compared to 26 per cent for Gabriel Boric following a bruising campaign that laid bare deep social tensions in the region’s most economically advanced country. Interpol May Fall into Authoritarian Govts’ Hands, Warn Right Groups

Human rights groups and Western lawmakers are warning that Interpol’s powerful network of global police officers could end up under the sway of authoritarian governments, as the

world police agency meets in Istanbul this week to elect new leadership. Representatives of countries like China and the United Arab Emirates are bidding for top posts in the France-based policing body when Tuesday’s general assembly convenes in Turkey. Interpol said it refused to be used for political ends. Critics contended that if these candidates won, instead of hunting down drug smugglers, human traffickers, war crimes suspects and alleged extremists, their countries would use Interpol’s global reach to apprehend exiled dissidents. Two candidates have drawn special criticism: Maj. Gen. Ahmed Naser al-Raisi, inspector general at the UAE’s interior ministry, who is seeking to be elected Interpol’s president for a four-year term; and Hu Binchen, an official at China’s ministry of public security, expected to be up for a vacant spot on Interpol’s executive committee. A vote is expected Thursday. Interpol’s president and the executive committee set policy and direction. WTA Still Worried about Chinese Tennis Star Peng Shuai

The Women’s Tennis Association’s (WTA) said Monday it is still concerned about Chinese tennis star Peng Shuai even though she appeared at a tennis event and spoke with an Olympic official on Sunday. “It was good to see Peng Shuai in recent videos, but they don’t alleviate or address the WTA’s concern about her well-being and ability to communicate without censorship or coercion,” a WTA spokeswoman said in an e-mail. “This video does not change our call for a full, fair and transparent investigation, without censorship, into her allegation of sexual assault, which is the issue that gave rise to our initial concern.” Peng had not been seen since earlier this month after she accused Zhang Gaoli, a former Chinese vice premier, of forcing her to have sex several years ago. Her absence from public sight had prompted international demands for Chinese officials to account for her safety. The three-time Olympian and former Wimbledon champion appeared standing beside a tennis court, waving and signing oversized commemorative tennis balls for children on Sunday.

COVID-19 Surge: Austrai Re-enters Lockdown

Ahead of the Christmas holidays, Austria shut its shops, restaurants and festive markets Monday, returning to lockdown in the most dramatic Covid-19 restriction seen in Western Europe for months. The decision has prompted a fierce backlash, with tens of thousands taking to the streets, some blaming the government for not doing more to avert the latest coronavirus wave crashing into Europe. As they wake up Monday morning, Austria’s 8.9 million people will not be allowed to leave home except to go to work, shop for essentials and exercise. The Alpine nation is also imposing a sweeping vaccine mandate from February 1 — joining the Vatican as the only places in Europe with such a requirement. Battling a resurgent pandemic almost two years since Covid-19 first emerged, several countries on the continent have reintroduced curbs, often choosing to ban unvaccinated people from venues like restaurants and bars. Somalia Denies Enforcing Female Spy Disappearance Investigators in Somalia have concluded that the country’s National Intelligence and Security Agency was not responsible for the presumed death of one of its officers. The committee said there was no evidence the agency was involved in the June disappearance of 24-year-old Ikram Tahlil Farah. Tahlil’s parents have rejected the committee’s findings and blame the spy agency, which blames the death on the al-Shabab terrorist group. General Abdullahi Bulle Kamey, the chief prosecutor of the Armed Forces Court, said his team’s investigation found no sign that Somalia’s chief intelligence agency was responsible for the disappearance and presumed death of the officer. He said the investigators tasked had found no evidence to link the National Intelligence and Security Agency (NISA) officials to the missing female spy Ikran Tahlil Farah. He also asked that anyone with information in the case present it to the authorities. The mother of the missing cyber security intelligence official, Qali Mohamed Guhad, dismissed the committee’s findings.

T H I S D AY • TUESDAY NOVEMBER 23, 2021

T H I S D AY ˾ TUESDAY NOVEMBER 23, 2021

POLITICS

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

Niger Delta Elders Mount Pressure on Buhari to Inaugurate NDDC Board Niger Delta authentic leaders, Conference of Presidents-General of Niger Delta Ethnic Nationalities penultimate week held a well-attended meeting in Yenagoa and quickly followed-up, last weekend, with a protest march in Yenagoa. Their actions and ongoing sensitisation have given new impetus to the unending legitimate demand of stakeholders for President Muhammadu Buhari to abide by the NDDC Establishment Act, and also fulﬁl his promise of June 24, 2021 to inaugurate the NDDC Board upon receipt of the Commission’s forensic audit report, writes Nseobong Okon-Ekong

Buhari

n Saturday, November 13, 2021, the Conference of PresidentsGeneral of Niger Delta Ethnic Nationalities (CPGNDEN) met in Yenagoa, Bayelsa State and in the communique issued after its meeting, they called on President Muhammadu Buhari “to keep his promise and inaugurate a substantive board for NDDC following the submission of the forensic report, and in line with the law establishing the agency,” noting that the Niger Delta was in dire need of development which the absence of the board has so far stalled. In the communique which was read by its President, Professor Benjamin Okaba, CPGNDEN also contended that the running of the NDDC by a sole administrator was contrary to the law establishing the commission. CPGNDEN membership cuts across Ijaw National Congress; Isoko Development Union; Urhobo Progressive Union; Oron Nationality; Ndokwa Nation; Itsekiri Nation; and Ogoni Nation, amongst others. Present at the meeting were Professor Chris Akpotu (Isoko Development Union), A. A. Onoharigho (Urhobo Progressive Union), Ante Ita (Oron Nationality), Brig. Gen. Mike Ndubisi (rtd) (Ndokwa Nation), Edward Ekpoko (Itsekiri Nation) and Young Kigbara (Ogoni Representative), among others. The Conference of Presidents-General of Niger Delta Ethnic Nationalities (CPGNDEN) again, over the weekend staged a protest march to highlight the injustice by the Federal Government to the Niger Delta people. Addressing protesters at the march, Professor Okaba, who is also the President of Ijaw National Congress (INC) stated unequivocally that “The Federal Government should leave the NDDC for the Niger Delta people.” According to him, “Inaugurate the (NDDC) Board now. We are tired of seeing NDDC in the hands of a family. Interim managers upon interim managers have taken over NDDC as if it is a family affair. As we speak, monies are spent, people are employed, yet there is no representation from any of the constituent states on policy issues. We have decided to take it upon ourselves to engage the public on these protests and we believe that the Federal Government will take us very seriously because doing otherwise is to their peril.” In his own remark at the protest march, Professor Chris Akpotu, Secretary of CPGNDEN, and President-General of Isoko Development Union (IDU) restated that what Niger Deltans demand is an NDDC “substantive board that will ensure even and equitable distribution of the development

Akpabio

programmes as far as the Niger delta is concerned. We are equally concerned about the NNPC road infrastructure programme of the Federal Republic where all the states of the Niger Delta are obviously marginalised.” Prince Biira, President, Movement for the Survival of the Ogoni people (MOSOP) remarked that “Interim Caretaker-ship of the NDDC is a symbol of corruption, it’s a symbol of misappropriation. The essence of that Commission (NDDC) is to develop the Niger Delta area. They should put the structures of the Board in place as quickly as possible.” Recall that, in tandem with the demands of stakeholders across the Niger Delta region, the pan Ijaw group, Ijaw National Congress (INC), in a statement on Saturday, November 6, 2021, entitled “Evil Against The Niger Delta: Enough Is Enough, Mr President” had also stated that the “continued delay of the inauguration of a substantive board for the NDDC is an inexplicable aberration that defies logical reasoning and is infuriating the region.” In fact the Ijaw National Congress (INC) had earlier cautioned in a statement issued on September 10, 2021 that “any further delay in the inauguration of the NDDC board is a clear betrayal of trust and display of State insensitivity on ljaw nation and Niger Delta region.” This followed President Buhari’s promise to the nation on the 24th day of June 2021, while receiving the Ijaw National Congress (INC) at the State

Okaba

House in Abuja that the NDDC Board would be inaugurated as soon as the forensic audit report is submitted and accepted. The President said: ‘‘Based on the mismanagement that had previously bedeviled the NDDC, a forensic audit was set up and the result is expected by the end of July, 2021. I want to assure you that as soon as the forensic audit report is submitted and accepted, the NDDC Board will be inaugurated.” According to The Conference of Presidents-General of Niger Delta Ethnic Nationalities (CPGNDEN), the timely intervention of President Muhammadu Buhari would douse the growing tension in the region. CPGNDEN also kicked against moves to include Bauchi, Ogun and Lagos as new oil-producing states in the Niger Delta Development Commission (NDDC). Also last week, renowned Ijaw group, the Ijaw Interest Advocates (IIA), also known as Izanzan Intellectual Camp urged the Presidency to remember to keep good legacies by abiding to the law establishing NDDC, call the minister of Niger Delta Affairs, Sen. Godswill Akpabio to order, to stop using the name of President Buhari as flimsy excuses over the delay in inaugurating the NDDC board. In a statement signed by its leader, Arerebo Salaco Yerinmene Snr “the recklessness and consistent use of Mr. President’s name by Akpabio to defend illegalities in NDDC is putting

Inaugurate the NDDC Board now. We are tired of seeing NDDC in the hands of a family. Interim managers upon interim managers have taken over NDDC as if it is a family affair. As we speak, monies are spent, people are employed, yet there is no representation from any of the constituent states on policy issues. We have decided to take it upon ourselves to engage the public on these protests and we believe that the Federal Government will take us very seriously because doing otherwise is to their peril

President Buhari’s name and image in a bad light before the good people of Niger Delta region.” The Group noted that “The Presidency and the President’s family should remember to keep good legacies even after office. The government’s flagrant disobedience of the laws guiding the establishment of an agency created to develop an impoverished region is unacceptable. We are again appealing to President Buhari to shun the excuses of Akpabio and save the Niger Delta Development Commission by inaugurating the substantive board.” It is therefore worthy of note that Senator Akpabio has been compelled to issue statements on the inexplicable delay of NDDC Board inauguration twice in the past two weeks, with a promise last week that the NDDC Governing Board will be put in place as soon as the summary of the forensic audit report is submitted to the President, according to a statement by Deworitshe Patricia, Director of Press & PR, Ministry of Niger Delta Affairs. Unfortunately, Akpabio made this commitment to a hand-picked audience, Niger Delta Ethnic Nationalities Youth Leaders Forum, described by authentic stakeholders as impostors and portfolio associations. The group paid Akpabio a courtesy visit in his office, last week, in Abuja. In a swift response to the courtesy visit that was largely seen as a charade, Niger Delta Elders Forum, through its National President, Chief Tonye Ogbogbula, in a Press Statement, stated that it is “unfortunate that in a wellorchestrated subterfuge to divert attention from the collective legitimate demands of authentic Niger Delta stakeholders for the inauguration of the NDDC Governing Board, Minister of Niger Delta Affairs, Senator Godswill Akpabio, once again, assembled his pliant “Leaders of Niger Delta Ethnic Nationalities Youth Forum” to pay him a courtesy visit in his office, on Thursday, November 18, 2021, to sing his praises.” NDEF asserted that this is a “fringe group, which to all intents and purposes is a portfolio ethnic nationality youth association that the Minister apparently created to endorse his diversionary actions from time to time, and which has been employed on several occasions in the past two years to praise copiously and endorse every action of Akpabio, however dubious or comical.” NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ TUESDAY NOVEMBER 23, 2021

POLITICS

Ayu’s Emegence As Atiku’s Trump Card For PDP’s Ticket? With the emergence of Dr. Iyorchia Ayu, a close associate of former Vice President and serial presidential candidate, Atiku Abubakar, as the new chairman of the Peoples Democratic Party, Emameh Gabriel interrogates the implications Abubakar’s quest to be the party’s standard bearer for the 2023 election

ormer Senate President during the botched third republic, Iyorchia Ayu is the new chairman of the main opposition party, the PeoplesDemocraticParty (PDP), several weeks after he emerged as the consensus candidate of the North for the position. This came after intense wrangling and high level horse trading. The election of Ayu is widely seen as an auspicious occasion for the PDP in the build up to the next general election. Aformer Education Minister under the military regime of General Sani Abacha and severally a minister in nascent days of the Fourth Republic under the erstwhile PDP administration of Olusegun Obasanjo, finally decamping from the PDP under controversial circumstances, particularly for his support for then Vice President Atiku Abubakar amidst Obasanjo’s third term agenda. The former Sociology lecturer, later became the former Vice President’s head of presidential campaign on the Action Congress, AC, platform in 2007. His emergence as PDP Chairman no doubt has the hand of Atiku in it, who viewed Ayu’s competitor, former Senate President, David Mark, as more imposing. Ayu had never for once, hiden his support and loyalty for Atiku and had severally said Nigeria needs a modern president. In apparent support of the candidacy of Atiku Abubakar, he once said: “Atiku is a modern industrialist. Atiku has in recent times advocated restructuring. “Restructuring also implies that states would be allowed to have their own Police because in a true federation, you cannot have only one Police force all over. From my discussions with Atiku, I believe strongly that some of these critical issues would be addressed fundamentally” A supposed profile that has been further enhanced with Atiku’s latest acquisition of a Masters in International Relations from Cambridge University underlining the former VPs seemingly undying interest in pursuing his grand political ambition of becoming Nigeria’s president. Turaki Adamawa as he is popularly called, a serial defector, was part of the new PDP faction that broke away from the then ruling party in 2013 to merge with other political parties and factions to form the All Progressives Congress (APC) that went on to defeat the PDP in the 2015 general election. He later returned to the PDP to clinch the party’s 2919 presidential ticket losing to President Muhammadu Buhari, the candidate of the APC.

Abubakar

Ayu

ruling party, the main opposition, the PDP has not and does not seem like a party that could capitalize on the situation, because its electoral defeat at the 2019 poll, like the APC, it has been dealing with recurrent crisis in its fold, a situation that dragged the party to the Apex Court while on convention ground. This in no doubt unconnected with the 2023 politics. However, analysts opine that with Ayu’s election as National Chairman, that the party has displayed a willingness for a fresh start. Many had thought that since its shocking defeat in the 2019 general elections, the PDP would have started engaging itself in the process of re-engineering to see it bounce back to political power in 2023 but this wasn’t to be due to the power tussle that erupted in the party culminating in the removal of Uche Secondus as the party’s national chairman before the end of his term. Atiku who has remained a frontline politician and power broker has not hidden his interest to try one more time for the most coveted office in the land. And from the looks of things, he has continued to be a force of unity and strategy in the party despite the strong opposition of governors on the party’s platform. While in the APC, the zoning argument has been that since President Muhammadu Buhari, a Northerner

Changing political equation Atiku recently said that Nigerians could not wait for 2023, so that the PDP could return to power. Though there are sections of Nigerians who are disaffected and discontented with the

served eight years as president, that power should automatically shift to the South. In the PDP, the arguments have taken several dimensions, with a major one alluding that in 16 years of PDP rule, the South has ruled for 14 years and that Jonathan completed the term of late President Yar’adua and was subsequently elected president. Thus giving the north the right of first refusal. But as seen in 2019, the North is not refusing, as it dominated the aspirants list at the PDP’s 2018 convention and from the look of things, it will do so again, especially with the clear prospect of throwing the eventual primary open for all. But many analysts opine that if the PDP makes its primary an open contest, even before the coming on board of Ayu as party chairman, the former Vice President will replicate his 2018 feat of clinching the party’s presidential ticket. With Ayu now in place, the prospect has no doubt been greatly enhanced, even though the new chairman has been an advocate of transparency and due process in party administration, himself a victim of internal party injustice in 2007. Within the party it is widely believed that Atiku is the one man that has the clout and deep pocket to match the ruling party and and any chosen candidate, even if it is the self acclaimed national leader, Bola Tinubu emerges as its candidate. Mounting Opposition Despite his popularity and active presence on social media, Atiku has found it difficult to singlehandedly reign in on his party, especially during the crisis rocking that strained the opposition as forces battle for the party’s structure. Even before the alleged removal of Secondus

as chairman, the PDP has been accused of not wanting to cede the presidential ticket to the Southeastern, a region, it is argued has supported the party since its formation from inception. A reason Governor Umahi of Ebonyi gave for dumping the party. Alhough it is clear that this school of thought does not weigh heavy on a party in the opposition keen on returning to power, and plotting how to maximize its share of votes, many in its fold believe that handing a popular northerner the party’s ticket, particularly with the APC’s intent on zoning it to the South may make the difference. Atiku, who clocks 77 in 2023 is considered by some as being too old for the plum job. So, he is likely to face staunch opposition from the party’s young turks, which will be centered around Governor Aminu Tambuwal of Sokoto State who will be ending his governorship term in the same year. Atiku who is frequently away from the county, has not always had it easy with the party’s governors forum and the recent rounds of visit in Port Harcourt, Delta, Akwa Ibom and Edo state may be a strategy to ingrate himself with them as isolation becomes increasing dangerous. According to a group in the party, the PDP Action 2023, Atiku should seek to become the chairman of the party’s Board of Trustees (BoT) to provide counsel to younger PDP politicians. Speaking recently, its Chairman, Hon. Rufus Omeire, disclosed that since losing the 2019 poll to President Buhari, Atiku had relocated to Dubai and allegedly doing nothing to rebuild the main opposition party. The group rejected a situation where he would only resume his association with party members just because the election is around the corner. “It is a betrayal of trust for Alhaji Atiku Abubakar to neglect the feelings and sacrifices of ordinary voters who supported him and PDP in 2019. “Now 2023 elections are once again at hand, he has returned and started politicking once again. Apparently, the only thing he is very good at is politics.” While some gladiators in the party who were visible faces at the party’s presidential convention in Port Harcourt in the 2018 convention, are no longer too visible, it may be a matter of time before they re-emerge, re-group, and realign in their quest to clinch the ticket or form a winning alliance. The elective national convention held on Sunday has witnessed the rising trend, with the emerging visibility of Sule Lamido, Bukola Saraki, Dankwambo and the likes. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Why Senator Odebiyi Seeks Better Standard of Education Olubunmi Omoogun commends the single-minded pursuit of improved educational standard for his constituents by Senator Tolu Odebiyi

he Nigerian education sector has been poorly funded in the past years, falling far below the United Nations Educational, Scientific and Cultural Organisation (UNESCO) recommendation. UNESCO wants developing nations to allocate 25 percent of their annual budget to public education in order to bridge the gap between them and developed nations. But some South-west National Assembly members and lovers of education are keen on providing quality education for the youths in their various communities. They are helping to give hope to indigent students that are yearning for opportunities to blossom through a decent public education. Sen. Tolu Odebiyi, otherwise known as the ‘Prince of the Senate’, one of the Yoruba Senators championing access to quality education, has also made his Constituents’ education his topmost priority. He is shaping and building future generations of leaders under the auspices of Tolu Odebiyi Scholarship Foundation. Sen. Odebiyi who is representing Ogun West Senatorial District in the National Assembly has continued to make positive impacts in the area

Odebiyi of education, and broadening his socioeconomic development impacts through his several constituency projects. Apart from the annual scholarship awards of One Hundred Thousand Naira, (N100,000)

and brand new laptops he gives to hundreds of Ogun West undergraduate students in various public tertiary institutions in Nigeria, he has also facilitated numerous community intervention projects for his beloved Senatorial District, Ogun West. Receiving the Midas touch of the Iboro, Yewa North born Senator, are a Yewa legacy school named the Egbado College, Ilaro, which has been richly transformed and adequately equipped by the Distinguished Senator Tolu Odebiyi. We also have Alamuwa Grammar School, Ado Odo and other several schools in his Senatorial District. These have increased the number of schools facilitated by Sen. Odebiyi who is also transforming the lives and shaping the future of the youths in marginalized areas. Politicians, market women, royal fathers and students have commended Sen. Odebiyi for his robust representation, selfless service and support to education as a first timer in the Red Chamber. Prominent among them are two former Senators from the same Senatorial District, a well respected

woman, Sen. Iyabo Anisulowo who said that “Sen. Odebiyi is one of the best globally. We are feeling your impacts at all levels, especially with the scholarship awards, mentorship, skill acquisition programmes and different interventions in the affairs of the constituents, spanning the entire Ogun West Senatorial District, from Ota to Ado to Ipokia to Ilaro to Ayetoro to Imeko. Yewa College, our heritage school is impacted by you also upholding the labour of our heroes past. The great walls are standing behind you in Jesus mighty name”. Another Senator, the erudite Sen. Kola Bajomo said, “Let’s be factual, Distinguished Senator Tolu Odebiyi deserves not only to be congratulated but also celebrated. He had worked assiduously hard to reach this level and he is still not relenting. He’s a beautiful representation of what is perhaps the best for the populace. This is just not rhetorics because it is real. After all the taste of the pudding is in the eating. Let’s continue to encourage him. Well-done!” NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

TUESDAY NOVEMBER 23, 2021 • T H I S D AY

T H I S D AY • TUESDAY NOVEMBER 23, 2021

TUESDAY NOVEMBER 23, 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 19Nov-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 167.02 167.98 3.03% Afrinvest Plutus Fund 100.00 100.00 9.03% Nigeria International Debt Fund 319.15 319.15 -16.12% Afrinvest Dollar Fund 104.20 105.25 -5.81% 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 10.54% AIICO Balanced Fund 3.31 3.37 -4.07% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 8.69% Anchoria Equity Fund 139.37 141.12 4.78% info@anchoriaam.com Anchoria Fixed Income Fund 1.14 1.14 -13.96% 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 20.55 21.17 13.29% ARM Discovery Balanced Fund 454.66 468.37 13.56% ARM Ethical Fund 39.79 40.99 18.05% ARM Eurobond Fund ($) 1.08 1.09 -1.39% ARM Fixed Income Fund N/A N/A N/A ARM Money Market Fund 1.00 1.00 8.54% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 107.38 107.38 5.57% AVA GAM Fixed Income Naira Fund 1,054.42 1,054.42 5.44% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.07 2.07 -4.18% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.23 2.27 2.98% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.03 1.03 4.82% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.10% Paramount Equity Fund 17.38 17.70 8.67% Women's Investment Fund 142.79 141.18 6.08% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.69% Cordros Milestone Fund 132.95 133.79 13.27% Cordros Dollar Fund ($) 109.89 109.89 5.40% 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 8.02% Coronation Balanced Fund 1.26 1.28 4.80% Coronation Fixed Income Fund 1.42 1.42 -10.30% 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 7.60% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 8.32% EDC Nigeria Fixed Income Fund 1,170.06 1,193.26 1.80% 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 8.71% Emerging Africa Bond Fund 1.03 1.03 3.18% Emerging Africa Balanced Diversity Fund 1.11 Emerging Africa Eurobond Fund 104.12 FBNQUEST ASSET MANAGEMENT LTD Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price FBN Bond Fund 1,375.02 FBN Balanced Fund 174.16 FBN Halal Fund 114.53 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

121.85 149.28 Bid Price 1.00 3.98 1.69 1.19

1.11 10.73% 104.12 4.08% invest@fbnquest.com Offer Price 1,375.02 175.45 114.53 100.00

Yield / T-Rtn 11.43% 4.44% 9.24% 8.87%

121.85 4.07% 151.30 12.93% fcmbamhelpdesk@fcmb.com Offer Price 1.00 3.98 1.73 1.19

Yield / T-Rtn 6.49% 2.85% 11.18% 4.95%

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 7.73% Vantage Balanced Fund 2.88 2.95 0.97% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 155.10 155.37 -0.26% Vantage Equity Income Fund (VEIF) - June Year End 1.27 1.31 0.59% Vantage Dollar Fund (VDF) - June Year End 1.06 1.06 4.07% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.50 1.52 9.72% Lotus Halal Fixed Income Fund 1,149.50 1,149.50 7.75% 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 11.79 11.86 12.69% Meristem Money Market Fund 10.00 10.00 9.91% 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) 101.00 101.01 7.48% Norrenberger Money Market Fund (NMMF) 100.00 100.00 9.46% 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 1.59 1.62 13.10% PACAM Fixed Income Fund 11.07 11.09 -8.86% PACAM Money Market Fund 10.00 10.00 7.64% PACAM Equity Fund 1.46 1.47 -7.64% PACAM EuroBond Fund 112.50 114.68 2.56% 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 133.66 135.96 11.99% 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 10.05% 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 3,385.01 3,413.01 5.27% Stanbic IBTC Bond Fund 234.69 234.69 4.38% Stanbic IBTC Ethical Fund 1.26 1.28 7.63% Stanbic IBTC Guaranteed Investment Fund 310.94 310.94 5.53% Stanbic IBTC Iman Fund 239.92 243.54 9.94% Stanbic IBTC Money Market Fund 100.00 100.00 7.50% Stanbic IBTC Nigerian Equity Fund 11,090.36 11,251.10 5.70% Stanbic IBTC Dollar Fund (USD) 1.29 1.29 4.80% Stanbic IBTC Shariah Fixed Income Fund 116.45 116.45 4.83% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 105.44 105.44 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.34 1.37 4.99% United Capital Bond Fund 1.94 1.94 6.00% United Capital Equity Fund 0.92 0.95 15.88% United Capital Money Market Fund 1.00 1.00 8.99% United Capital Eurobond Fund 121.60 121.60 6.20% United Capital Wealth for Women Fund 1.09 1.10 6.38% United capital Sukuk Fund 1.07 1.07 6.90% 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 13.09 13.20 10.29% Zenith ESG Impact Fund 14.54 14.70 19.15% Zenith Income Fund 24.64 24.64 2.69% Zenith Money Market Fund 1.00 1.00 6.50%

REITS

NAV Per Share

Yield / T-Rtn

124.98 54.20

10.62% 7.24%

Bid Price

Offer Price

Yield / T-Rtn

15.51 129.96 104.66 17.73 21.23

15.51 133.19 106.96 17.83 21.33

16.93% 8.08% 5.49% -0.89% 15.09%

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

3.87 5.56 18.02 1.00 21.84 157.60

3.97 5.66 18.22 1.00 22.04 159.60

3.20% -2.12% 11.20% 6.61% 6.42% -15.10%

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.

LAWYER TUESDAY, NOVEMBER 23, 2021

UT H

& RE A S O

WEEKLY PULLOUT

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& RE A S O

LAGOS STATE GOVERNOR, BABAJIDE SANWO-OLU, RECEIVING THE JUDICIAL PANEL REPORT FROM HON JUSTICE OKUWOBI (Rtd), WHILE LAGOS A-G MOYOSORE ONIGBANJO, SAN LOOKS ON

Who is Afraid of the Lekki Judicial Panel of Inquiry Report?

TUESDAY, NOVEMBER 23, 2021 • T H I S D AY

IN THIS EDITION

LAWYER TUE SDAY, NOV

EMB ER 23, 202

LLOUT WEEKLY PU

TRU

TH &

REAS

TRU

TH &

RE A S

Raising Objection to Prosecution’s Failure to Tender Statement(s) During TrialWithin-Trial

RT IAL PANEL REPO IVING THE JUDIC LOOKS ON SANWO-OLU, RECE ONIGBANJO, SAN ERNOR, BABAJIDE A-G MOYOSORE LAGOS STATE GOV , WHILE LAGOS ICE OKUWOBI (Rtd) JUST HON FROM

Page IV

Celebrating Chief Wole Olanipekun, SAN at 70

f the o d i a r f A s i o Wh Panel l a i c i d u J i k k Le ort? p e R y r i u q n I of

Page V

QUOTABLES ‘…..Whether you study Engineering in Nigeria or the North Pole, there are some basic minimum things that have become global standards, and nobody can invent his own type. Therefore, with or without a Building Code, there are some things that are just a product of science and arithmetic, that decide whether a building stays up or stays down…..’ - Babatunde Raji Fashola, SAN, Governor, Lagos State (2007-2015); Minister of Works & Housing, Federal Republic of Nigeria

‘These Panels of Inquiry, were set up under the Tribunal of Inquiry Law of each State. Whoever is recommended for sanctions or prosecution, whether you are a Federal or State Public Officer, or a private individual, you can be prosecuted under the law.’ - Femi Falana, SAN, Human Rights Lawyer; Recipient of the Bernard Simmons Award of the International Bar Association

Punuka Attorneys and Solicitors Inaugurate Alumni Page V

The New Electoral Bill: Primaries and Some Pitfalls Ahead Page VII

LAWYER

ONIKEPO BRAITHWAITE: EDITOR, JUDE IGBANOI: DEPUTY EDITOR, PETER TAIWO, STEVE AYA: REPORTERS

III THE ADVOCATE

T H I S D AY • TUESDAY, NOVEMBER 23, 2021

For the Buhari Administration, APC, Dishonesty as Policy Choice 51 of 1959. Judgement delivered on 14/11/1961). I submit that, Government has failed and neglected to carry out its contract with the Nigerian people in its essential respects - corruption is still rife, insecurity is at an all time high, and the economy is shaky.

Background

he popularity and credibility of President Muhammadu Buhari’s administration seemed to have started to wane almost from its inception; and six and a half years later, one and a half years to the end of the administration, it may almost be an impossibility to redeem its image - its ratings and that of the APC (All Regressives Congress), are at an all time low. And, while a few of the reasons for this unfortunate state of affairs are no fault of this Government, for example, the drop in global oil prices between 2014 and 2016; corruption of the previous administrations, especially that of President Jonathan and the PDP (People’s Destruction Party), and the resultant negative impact on the economy, infrastructure and Nigerians as a whole; the Covid-19 Pandemic in 2020 and its devastating effects on the global economy and peoples’ lives in general, many more of the reasons for its loss of credibility and favour, are self-inflicted. According to the Cambridge Online Dictionary, ‘Credibility’ is defined as “the fact that someone can be believed or trusted”. In legal parlance, APC’s campaign mantra, eradication of corruption and insurgency, and revamping the economy, translated to their undertaking to achieve many of the provisions contained in Chapter II of 1999 Constitution of the Federal Republic of Nigeria (as amended)(the Constitution), that is, the very essence of governance, the Fundamental Objectives and Directive Principles of State Policy, particularly Section 14(2)(b) thereof, the security and welfare of the people, and in record time too. Several years later, not much can be said to have been achieved in this regard, aside from the improvement of the road network and the railway. In 2017 and 2018, on this very page, I had testified to the fact that the electricity supply was superb in the area where I reside. Today, in 2021, the story is different, as we now experience frequent power cuts in our neighbourhood. Failure to keep such important promises, has definitely had an adverse effect on the credibility of Government. If anything, the situation in the country has deteriorated. To make matters worse, all Nigerians have been hearing from the APC, the Minister of Information (Disinformation is more apt) and Culture, Alhaji Lai Mohammed, and other Presidential spokespersons, are nothing more than excuses and the blame game - everything is the fault of the fact that the stars are aligned against Nigeria! The PDP’s corruption is the cause of all our problems! Tah! Yes, the PDP carries a generous amount of the blame, but the APC cannot be absolved from culpability because of this - APC has also become a serious part of Nigeria’s problems. I’m sure we are all too familiar with the saying about a bad workman who blames his tools! When a person starts to blame everything and everyone else but himself for his failures and inadequacies, never taking responsibility, whatever trust you reposed in such a person dissipates rapidly. And, when such a person cannot perform the simplest tasks satisfactorily, then you not only see the person as unreliable, incapable and inept, one starts to question ones own sense of judgement in the first place. The first sign that all was not well with this administration, was the length of time it took President Buhari to assemble his cabinet - almost six months. Nigerians had started to wonder whether the Cabinet Ministers were being recruited from Mars, Saturn or Neptune, only for the selection to be made from members of President Buhari’s Campaign Committee and other Party members. So, why did the process have to take so long? Meanwhile, the country was more or less in limbo and a free fall, and the security situation and the economy, worsened in the meantime. As the security situation in the country continued to deteriorate instead of improving as APC had promised (and one of the reasons the Party was elected), the economy seemed to be on the same negative trajectory, and the people started to murmur against President Buhari's Government, like the Israelites murmured against Moses and Aaron in the wilderness, on their way to the Promised land! “We remember the fish we ate freely in Egypt, along with the cucumbers, the melons, leeks, onions, and garlic:” - Numbers 11:5 King James Version, Holy Bible. In present-day Nigeria, people even started to long for the ‘good old Jonathan days’ when the average price of a 50kg bag of decent, edible ‘arosò’ rice was N10,000 and £1 exchanged for an average of N271, as opposed to today, where the same type of rice sells for N25,000 or more, and the official rate is now about £1 to N552, and almost N200 more expensive on the black market.

ONIKEPO BRAITHWAITE onikepo.braithwaite@thisdaylive.com onikepob@yahoo.com Twitter: @TheAdvocate

The

Advocate “While we are debating whether it was crime against humanity or not, it is indisputable that, on that fateful day, the actions of the security agencies, whether Army or Police, that is, opening fire on unarmed young civilians……translate to the offences of Murder, Manslaughter, Assault with the intent to cause Grievous Bodily Harm….. contrary to the Criminal Law of Lagos State…..” There have been complaints galore, borne out of the deliberate actions of this administration, which have further damaged its reputation. Space constraints prevent me from delving into all of them (that would probably require writing a book), but here are a few of the legitimate complaints: the security agencies being headed mostly by Northerners contrary to Sections 1(2) and 13 (3) of the Constitution, and there are countless accusations of tribalism, partiality and discrimination (sex and religion) contrary to Section 42 of the Constitution (ditto for positions only held by Southerners, that are not evenly distributed amongst the other zones); mishandling of the Herdsmen crisis to favour them, despite the atrocities they have committed against Farmers in Benue, Plateau, Taraba and other areas of the country; treatment of kidnappers and ‘bandits’ with kid gloves, with some even calling for amnesty for them when they simply do not qualify for it, and instead, should be prosecuted for the atrocities they have committed which have become the order of the day (practically stealing the show from Boko Haram); inability to subdue those causing mayhem and destroying national assets in the South East, particularly in Imo State, while parading the clueless Governor of Imo State as a hero for more or less lying down and playing dead, because he’s a member of the APC and a praise singer of President Buhari’s administration; showing contempt for the rule of law. In short, Government has reneged on its campaign promises. Breach of Contract

President Muhammadu Buhari

President Buhari’s administration reneging on its promises in these circumstances, amounts to breach of contract. And, all the elements required to succeed in such a claim by the Nigerian people against this administration, exist. President Buhari and the APC offered themselves based on their ‘irresistible’ campaign promises (misrepresentation), and the people accepted and promised to give him their vote; consideration changed hands with the people giving President Buhari their vote; there was an intention to create legal relations as President Buhari ran for the election and won because the people voted for him. There has not been much of specific performance on the part of this administration, vis-à-vis the list of campaign promises. The misrepresentation on the part of the APC Campaign, be it fraudulent or negligent misrepresentation (definitely not innocent misrepresentation), induced Nigerians to vote for President Buhari. See the case of Afegbai v AG Edo State & Anor (S.C. 111/1996) [2001] 2 (13 July 2001). The attempt by Government to escape liability by inserting an exemption clause which was not part of the original contract with Nigerians, that is, blaming PDP, Twitter, and everything and everyone else for its failure, cannot avail this administration any protection. Even if the exemption clause had been part of the contract, it would only give Government protection, if Government had carried out the contract in its essential respects. See the case of Adel Boshali v Allied Commercial Exporters Ltd (Nigeria. Privy Council Appeal No.

Information Minister, Lai Mohammed

#EndSARS Leaked Report Fast track to the October 2020 #EndSARS Protest by the Youths, against Police brutality. Again, Government’s credibility has been called into question, as it has failed to carry out the institutional reforms in the Police that it promised to do as a result of the Protest, only effecting a change of nomenclature from SARS to SWAT. Conditions of service in the Police remain poor, and their personnel remain brutal. The Report of the Lagos State Panel of Inquiry was leaked to the public, possibly to let the public know the truth and prevent any cover up by the Lagos State and Federal Government, with regard to the findings. I watched a Channels TV interview of Learned Senior Advocate, Kayode Enitan (one of the Counsel to Lagos State) last Friday, in which he stated that he had studied the leaked Report, and he noticed some discrepancies; he was simply nitpicking, but, he never at any time said that all the contents of the leaked Report were false. Not only did the leaked Report refer to the Tollgate incident as a ‘Massacre’, it included a list of casualties which showed that nine people died as a result of the attack on the Tollgate, while the Minister of Information had claimed that there were no fatalities! Amongst other assaults and injuries, 20 people were determined by the leaked Report to have sustained gunshot injuries, two others, gunshot grazes, while four are missing and presumed dead. The Panel found that both live and blank bullets were fired by the Nigerian Army, and one of the reasons given for this finding, was that one of the soldiers that testified at the Panel on behalf of the Army, admitted that they went to the Tollgate with live bullets. The Panel also visited the ‘locus in quo’ (Lekki Tollgate) and found two expended live bullet shells. Additionally, the LCC in its Press Release of 21/10/20 marked as an exhibit by the Panel, in Paragraph 7 thereof said: “We sincerely regret this unfortunate incident, and once again condemn the shooting of unarmed protesters at the Lekki Toll Plaza and other locations in the State”. This is another admission of shooting made by the LCC who had cameras to view the incident privately, even if they did not make the videos public. However, one thing the leaked Report failed and neglected to state, was who invited the Army to the scene. Was this deliberate? Because, this was a point that was too crucial to be overlooked. It may seem like an insignificant detail to a non-legal mind, but to a Lawyer, it is of the greatest importance, as it might just have been what would decide Lagos State’s culpability or otherwise in the whole unfortunate incident. This is one area where the concerns of ‘Nemo judex in causa sua’, come into play. Conclusion Does the Massacre of October 20, 2020 at the Lekki Tollgate Plaza qualify as a crime against humanity, that is, a systematic attack against an identified group of civilians - unarmed Youths to be precise? See the definition of Crimes Against Humanity in Article 7 of the Roman Statute of the International Criminal Court and Section 4(3) of the Canadian Crimes Against Humanity and War Crimes Act 2000. Which responsible Government, opens fire on innocent, unarmed, defenceless children, simply for trying to insist on good governance? I am still trying to understand the rationale behind such a dastardly act; not just as a Mother, but, as a human being; I cannot. Boko Haram, ISWAP, Bandits, Kidnappers, and all other perpetrators of violence and mayhem in the country are available to be shot at by trigger-happy security personnel. Instead of doing that, you pick on defenceless Youths? While we are debating whether it was crime against humanity or not, it is indisputable that, on that fateful day, the actions of the security agencies, whether Army or Police, that is, opening fire on unarmed young civilians, whether firing blank or live bullets, was reprehensible and condemnable, and it resulted in death and injury of the innocent. Again, Government has failed the test of truthfulness and honesty, as not just the CNN Investigative Report but the Panel of Inquiry instituted by Lagos State, has debunked the Army’s claim that only blanks were fired and nobody died. These unlawful actions translate to the offences of Murder, Manslaughter, Assault with the intent to cause Grievous Bodily Harm, amongst others, contrary to the Criminal Law of Lagos State, and just maybe, bringing the perpetrators to book, may help to start to redeem Government’s battered image, to some extent.

IV LAW REPORT

TUESDAY, NOVEMBER 23, 2021 • T H I S D AY

Raising Objection to Prosecution’s Failure to Tender Statement(s) During Trial-Within-Trial Facts The Appellant was arraigned before the Federal High Court, along with one Saheed Oluremi Adewumi, on a six-count charge of various offences under the Terrorism (Prevention) Act, 2011 as amended. The first prosecution witness who is an officer of the Department of State Services (DSS), testified that the DSS received some intelligence reports that some Nigerians were recruited by Iranians and trained in acts of terrorism, and returned to Nigeria to perpetrate such activities. He testified that the officer in charge of counter-terrorism directed that the report be investigated, and it was in the process of the investigation that the Appellant was arrested. PW1 testified further that two officers were assigned to interview the suspects, and to witness their statements which they wrote themselves. PW1 stated that the Appellant made two statements on 8/2/13 and 25/2/13. The Appellant was taken before PW1, and he confirmed that he made the statements voluntarily. At the point of tendering the statements in evidence, the Appellant raised an objection on the ground that the statements were not made voluntarily. A trial-within-trial was conducted, to determine the truth or otherwise of the assertion. In a considered ruling, the trial court held that the statements were made voluntarily, and admitted them in evidence as Exhibits B and B1. The appeal to the Court of Appeal was also not successful; hence, a further appeal to the Supreme Court. Issues for determination The Appellant formulated three issues for determination of the appeal, while the Respondent formulated one issue. The court, in its determination of the appeal, adopted and considered only the first issue raised by the Appellant thus: “Whether the Court of Appeal was correct, when it held that the Appellant’s extra-judicial statements were voluntarily made?” Arguments Submitting on the sole issue, counsel for the Appellant referred to the characteristics of a confessional statement as provided in Sections 28 and 29 of the Evidence Act, 2011, and as defined in decided authorities including GBADAMOSI v THE STATE (1992) 9 NWLR (Pt. 266) 465. Counsel submitted that the evidence of the Respondent at the Trial-within-trial (TWT), was to the effect that several interviews were conducted with the Appellant from the time of the arrest on 18/12/2012. That the Appellant volunteered to make statements, which he did, after the cautionary words were administered to him on 8/2/2013 and 25/2/2013. And each time, after making the statements, the Appellant was taken before a Superior Police Officer (SPO) where he confirmed that they were voluntarily made. It was stated further that the interview sessions were recorded on four DVDs, which were tendered in evidence during the TWT. Counsel for the Appellant maintained that the statements were made under duress, and that the Appellant was made to undergo a lie-detector test during the oral interview using a polygraph machine. He contended that the machine was used without his consent, and therefore, violated the Appellant’s fundamental right to remain silent as provided in Section 35(2) of the 1999 Constitution of the Federal Republic of Nigeria (CFRN)(as amended). Counsel further relied on the decision in R v. BELAND & PHILIPS (1987)2 SCR 398. Counsel observed that the Prosecution failed to tender the Appellant’s extra-judicial statements which were being challenged, during the TWT,

cannot avail the Appellant, having regard to Sections 14 and 31 of the Evidence Act, Counsel also relied on HARUNA v A.G. FEDERATION (2012)9 NWLR (Pt. 1306) 419. It was his submission, regarding the legitimacy of a polygraph test and his reliance on the case of R v BELAND & PHILIPS, that same were irrelevant, as it was not an issue before any of the lower courts.

Honourable Kudirat Motonmori Olatokunbo Kekere-Ekun, JSC In the Supreme Court of Nigeria Holden at Abuja On Friday, the 4th day of June, 2021 Before Their Lordships

Mary Ukaego Peter- Odili Kudirat Motonmori Olatokunbo Kekere-Ekun John Inyang Okoro Ibrahim Mohammed Musa Saulawa Samuel Chukwudumebi Oseji Justices, Supreme Court SC. 707C/2019 Between Abdullahi Mustapha Berende

Appellant

And Federal Republic of Nigeria Respondent

(Lead Judgement delivered by Honourable Kudirat Motonmori Olatokunbo Kekere-Ekun, JSC)

and that the failure to tender the said statements was fatal to the proceedings. He argued that the observation by the lower court that neither party applied to tender the statements, and that the Appellant was at liberty to apply for them to be admitted and thereby, enabling him to rebut the evidence of voluntariness was erroneous, as it had the effect of shifting the burden of proof on the Appellant. Counsel submitted further that the burden of proof lies on the Respondent. In response to the submissions above, counsel for the Respondent submitted that it is not the practice of the Apex Court to interfere with concurrent findings of fact or to re-evaluate the evidence, where no miscarriage of justice has been established Counsel relied on IGADO v THE STATE (1999) 12 SCNJ 140. He submitted that not only did the Appellant fail to allege torture when taken before PW2 for confirmation of his statement, there were video recordings of the process of taking

“I am of the view that, the issue should have been raised before cross-examination of the witnesses took place…Having acquiesced in the alleged wrong procedure, it was too late for the Appellant to complain on appeal”

the statements, which were admitted in evidence as Exhibits TWT1-TWT4. Counsel submitted that while the Prosecution’s case was consistent, the Appellant, in a bid to deny his voluntary confession, gave conflicting evidence, which was properly evaluated and resolved against him. He stated that the allegation of torture, was an afterthought. Learned Counsel further submitted that the Respondent did all that was required to establish the voluntariness of Exhibits B and B1, having regard to the provisions of Section 29 of the Evidence Act. Counsel referred to Exhibits TWT1TWT4, the confirmation of the statements before PW2, as well as the uncontradicted testimonies of PW2 and PW3. He submitted that the statements were corroborated by the evidence of PW6, PW7 and PW8, in addition to admissions made by the Appellant during his defence in the TWT. Counsel submitted that contrary to the contention of the Appellant, the burden of proof of particular facts, as opposed to proof of guilt, rests on the party who alleges the existence of such facts. Counsel further submitted that the Appellant had the onus of proving torture, oppression, and inducement, in the making of his statements. He referred to Section 136 of the Evidence Act and NWANGBONA v THE STATE (2001) ACLR 9. Counsel argued that assuming, without conceding, that a polygraph test was conducted on the Appellant, it does not detract from the voluntariness of the statements. The Appellant’s constitutional right to remain silent was never raised throughout the trial; counsel submitted that the allegations of threat, inducement, promise of amnesty etc.

Court’s Judgement and Rationale In deciding the sole issue, the Supreme Court relied on the provisions of Sections 28, 29 (1), (2) & (5) and 31 of the Evidence Act 2011, to hold there is no dispute as to the fact that the Appellant’s extra-judicial statements admitted in evidence as Exhibits B and B1, are confessional. The Apex Court held that where it is alleged that a confessional statement was obtained under duress or as a result of threat or inducement, the courts have developed the practice of conducting a TWT or mini trial, to ascertain the voluntariness of the statement. The onus is on the Prosecution to prove the voluntariness of the statement, and to establish that it was freely made - OLAYINKA v THE STATE (2007) 9 NWLR (Pt. 1040) 5. The court also held that, where an accused outrightly disowns the confession and asserts that he did not make the statement at all, it would be admitted in evidence and considered alongside other evidence led at the trial, to determine its probative value - IKPASA v BENDEL STATE (1981) NSCC 300. The purpose of the TWT conducted by the trial court, was to test the voluntariness of Exhibits B and B1. At the time the court ordered for the conduct of the mini trial, the only evidence before the court was the evidence of PW1, to the effect that the Appellant volunteered the two statements to him. The alleged statement made after the polygraph test, is not relevant for this purpose. Another vital issue is the evidence of TPW2, that on each occasion when the Appellant was brought before him, the Appellant confirmed that he made his statements voluntarily. The court held that it behoves any suspect who alleges that his statement was obtained under duress, to take advantage of the opportunity of being taken before a Superior Police Officer, to complain. The Appellant did not complain, rather on both occasions he admitted that he made the statements voluntarily. Given the foregoing, the Apex Court agreed with the decision of the lower court, confirming that the Appellant’s confirmation that he made the statements voluntarily is consistent with the evidence of TPW1 and TPW2 during the TWT. As regard the contention that the statements were not tendered during the trial-within-trial, their Lordships held that the statements were shown to and identified by TPW1 and TPW2. Both witnesses were copiously cross-examined by learned counsel for the Appellant, regarding the circumstances in which they were obtained. I am of the view that, the issue should have been raised before cross-examination of the witnesses took place…Having acquiesced in the alleged wrong procedure, it was too late for the Appellant to complain on appeal. See STATE v ONYEUKWU (2004) 14 NWLR (Pt. 893) 340. The Court concluded that there are concurrent findings of fact by the two lower courts that the statements, Exhibit B and B1, were voluntarily made. The Appellant was unable to dislodge the convincing evidence of the Prosecution witnesses, that all necessary steps were taken to ensure the voluntariness of the confessions. The court thereby, affirmed that the findings have not been shown to be perverse, so as to persuade the court to interfere. Appeal Dismissed. Representation M.I. Hanafi with D.T. Nwachukwu, O.A. Omolase and Y.A. Yussuf for the Appellant. Chioma Onuegbu (D.D.P.P.F) with Chinwe Obasi (Principal State Counsel), and Anikan O. Ekong (Principal State Counsel) Fed. Ministry of Justice, for the Respondent. Reported by Optimum Publishers Limited, Publishers of the Nigerian Monthly Law Reports (NMLR)(An affiliate of Babalakin & Co.)

V NEWS

T H I S D AY • TUESDAY, NOVEMBER 23, 2021

L-R: Executive Director, Punuka, Mrs Angela Ezeweani; Senior Managing Partner, Chief Anthony Idigbe, SAN; His wife/Managing Partner, Punuka, Mrs Elizabeth Idigbe and Partner, Punuka, Okorie Kalu, during the Punuka End of the Year Party/Launch of Punuka Alumni Network at Landmark Events Centre, Victoria Island, Lagos

Chief Wole Olanipekun, SAN

Justice Rita Oﬁli-Ajumogobia

Celebrating Chief Wole Olanipekun, SAN at 70 Tribute to a Great and Quintessential Bar Man It gives me great joy to join numerous well-wishers and admirers in celebrating my friend of over four decades, the quintessential and celebrated Lawyer and iconic Senior Advocate of Nigeria, Chief Wole Olanipekun OFR, SAN, LL.D. A great man of manifest distinction, a foremost community leader and enabler of human and societal development, and a remarkable Nigerian patriot. Nobility of Character It was Alfred Adler, the Austrian medical doctor renowned for his holistic theory of personality, psychopathology and psychotherapy, who rightly observed that ‘’men of genius are admired, men of wealth are envied, men of power are feared, but only men of character are trusted”. All over the world, particularly in advanced climes, men of intellect and people who in the true sense of the word are noble and honourable in thoughts and deeds, are highly venerated far above men of means and wealth. This implies that nobility of character is a more valuable and dignifying asset, than other material assets. It is this category

of men that my friend, the man of the moment belongs. A personable gentleman of esteemed and enviable pedigree who possesses high social capital, Chief Olanipekun rose through a dint of hard work and commitment to excellence to the zenith of his career as a remarkable legal practitioner with élan, admired gravitas and a behemothic status. On the Nigerian legal arena, Chief Olanipekun stands out like a colossus. He is a man whose mind and orientation have been rightly framed and well-cultivated, for the role God has crafted him to play on the stage of life. He is a man of high attainments, and national recognition. On this special day, therefore, I celebrate him as my distinguished brother and good friend, who attains the glorious milestone of 70 through the divine Grace of God. He is indisputably a pride of his generation, an illustrious son of Ekiti his home State, and Nigeria in general, who could be rightly said to be one of the most accomplished, most distinguished and most celebrated Nigerian professionals of this era, and a veritable role model to the coming generation. This birthday tribute, cannot

Punuka Attorneys and Solicitors Inaugurate Alumni Steve Aya The Senior Partner at Punuka Attorneys and Solicitors, Chief Anthony Idigbe, SAN, has described the relationship between the firm and its staff as that of a united family that always stays together no matter the distance, differences and the various shades of opinion. He made this remark while lunching the firm’s alumni, during the firm’s annual end of year dinner party, which took place at the Landmark Events Centre in Victoria Island, Lagos. The learned Senior Advocate traced the history of the law firm since its inception in 1947, and said that it had produced some of the nation’s brilliant Lawyers and Judges. “Since its inception in 1947 by our Founding Partner, Honourable Justice Chike Idigbe JSC of blessed memory, we have had some of the most brilliant legal minds

pass through the Firm. “We have produced a Judge of the Federal High Court, Magistrates, Senior Advocates of Nigeria and executive in-house counsel. We have also trained Lawyers who have gone out to become Senior Associates and Partners in their own firms, and all thriving”. he added Idigbe further said that the decision to start the Alumni was based on the desire to have a more collaborative experience, because the Punuka family stays together united no matter what, stressing that they all benefit from each other. Several awards were given to deserving members of staff, such as the long service award, the best staff of the year etc. The promotion of deserving members of staff, particularly that of new Partners, was also announced at the occasion. The dinner party was attended by both former and present staff, and their guests.

in any way sufficiently capture the essence of Chief Wole Olanipekun. This is because, his personality, status and impacts are bigger than what one can squeeze into few paragraphs.

As the drumbeats of celebration fill the air, and his friends, associates and admirers toast in celebrating a worthy son of Ekiti and a remarkable Nigerian patriot, I congratulate him as a

dear brother and an esteemed friend, for stepping nobly into the league of septuagenarians. It is my fervent prayer that God Almighty will bless him with length of days, peace, joy and

all-round fulfilment. Presido, happy birthday! Chief Bayo Ojo CON, SAN, former Attorney-General of the Federation and Minister of Justice

Money Laundering Case against Justice Ajumogobia Dismissed by Court of Appeal The embattled Federal High Court Judge, Justice Rita Ofili-Ajumogobia, has been freed from money laundering charges brought against her by the Economic and Financial Crimes Commission (EFCC). Justice Ambrose Lewis Allagoa, of a Federal High Court, sitting in Lagos on Friday discharged the embattled Judge of the allegations, while granting an application to quash and dismiss the charges, filed and argued by Olawale Akoni, SAN, counsel to the Justice Ofili-Ajumogobia. While urging the court to dismiss the money laundering charge Akoni, SAN told the court that the application is sequel to an order of Justice Binta M. Nyako of Abuja Division of the Federal High Court, which he said had quashed all the recommendations made by the National Judicial Council (NJC). Akoni (SAN) also told the court that by virtue of judgement of Justice B.M. Nyako, delivered on November 28, 2019, in Suit No. FHC/ABJ/ CS/638/2018, between Hon. Justice Rita Ngozi OfiliAjumogobia and National Judicial Council. The Judge

had quashed NJC’s report and recommendation. And that, Justice Ofili-Ajumogobia has been reinstated. Responding to the application, counsel to the EFCC, Mr Rotimi Oyedepo, informed the court that his Commission had responded to the application through a counter-affidavit. The EFCC, in its counteraffidavit deposed to by John Michael Idoko attached to the Chairman’s Monitoring Unit, that he was informed by S.I. Suleiman Esq., counsel handling this matter that the applicant, Justice OfiliAjumogobia had filed an application dated March 23, 2021, seeking this Honourable Court to strike out or quash the charge against the Applicant for being incompetent and lack of jurisdiction to try same by this Honourable Court. The deponent stated that the Court has the requisite jurisdiction, to hear and determine the allegation of Money laundering levelled against Defendant. And that by a petition dated December 28, 2017 to the NJC, the Commission accused Justice Ofili-Ajumogobia of various acts constituting misconduct

under Code of Conduct of Judicial Officers. The deponent averred that on September 18, 2018, the NJC’s Investigating Committee, upon the conclusion of the hearing of the petition, submitted its report to the Chairman of the Council recommending appropriate sanction to be imposed on Justice Ofili-Ajumogobia by the Council. Adding that on November 7, 2018, the President and Commanderin-Chief of the Armed Forces exercised his constitutional power pursuant to Section 292 (1) (b) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), and dismissed the Applicant as a Judge of the Federal High Court. The deponent stated that upon the exercise of the aforementioned constitutional power, the President equally transmitted a letter to the NJC informing the Council of his decision. And that Justice Ofili-Ajumogobia has never been acquitted of the offences contained in the instant charge in any Court or Tribunal of competent jurisdiction, within and outside the shores of

Nigeria. He also stated that NJC’s findings and the recommendation to the President and the President’s letter to the Council, are all on the record before the Honourable Court. He stated that his Commission has seen Defendant/ Applicant’s exhibit, wherein His Lordship, Honourable Justice B. F, M. Nyako on November 28, 2019 in Suit No.FHC/ABJ/CS/638/2018 between Hon. Justice Rita Ngozi Ofili-Ajumogobia and National Judicial Council held thus: “Consequent on the above finding, I hereby set aside all that the Respondent did in respect of this matter premised on the same issues as in the subject-matter of the trial before the High Court of Lagos State”. Ruling on the arguments canvassed by the parties, Justice Allagoa held that: “I have looked at the application. I have also looked into the counter-affidavit of the Prosecution, it does not indeed controvert the application. “I am satisfied that the application has merit, the prayers sought for are hereby granted as prayed”.

Timothy Oludare’s Murder, ‘Don’t Shield Suspects’ The Principal Partner of Castle Law Firm, Dr Kayode Ajulo has called on the Police to ensure that the culprits are not in any way shielded from the law. In a statement last Friday, Dr Ajulo said: ‘Our attention has just been drawn to a broadcast allegedly made by the owner of Hilton Hotel, Ile-Ife, Prince Rahmon Adedoyin, with respect to the ongoing Police investigation on the strange death of Mr Timothy Oludare. ‘From the abysmal worldwide broadcast allegedly released by the Suspect from Police custody, now trending both in print and social media, what was supposed to have been a solemn declaration and recording of statement at the Police facility, was transmogrified into a musical concert or show of

comedy fest, advertisement and a maudlin plea of non-guilt and exoneration by the Suspect. ‘What is more befuddling and disheartening, is the fact that the Police who is meant to be an unbiased Investigating Agency would allow its custody to be used as a recording studio for the Suspect to toot his own horn! ‘Applying the test of a reasonable man, no doubt, one will be led to the irresistible conclusion that the broadcast is not only an obfuscating façade, but also a stratagem of invasion and confusion. ‘Considering the trajectory and the incendiary surrounding the heinous and gruesome murder of Mr Timothy Oludare, it is expected that the Police ought to have been very professional and discreet in ensuring

that a thorough investigation is conducted, no matter how highly placed anyone could be! ‘Be that as it may, while it is not in our stead to direct the Police on how to conduct its investigation; however, the perdurable questions that urgently cry for answers are as follows: Since the exhumation of the corpse of Mr Timothy Oludare, has the Police put a protective cordon around the facility extending to some radius beyond the location where his body was found? There is a probability that this not the first victim. The use of a Ground Penetrating Radar (GPR), is an efficient and effective means to search for buried bodies. Was there a CCTV in the hotel? If no, why? It is pretty standard for CCTVs to be in

public places especially hotels. If none was installed, same is suspicious and indicative of premeditation. Has the premises of the suspect been searched by the Police, in order to discover any incriminating materials? If not, a warrant should be obtained to search his properties for such.’ ‘While we await the outcome of the Police investigation, it must be stated with every sense of purpose, that we shall ensure, as ministers in the temple of justice and adherents to the dictates of the rule of law, that the water of justice is not muddled in the instant case by any guise, no matter how highly placed anyone could be! ‘We therefore, urge the Inspector- General of Police, to use his good offices to see to it that the deceased gets justice!’

TUESDAY, NOVEMBER 23, 2021 • T H I S D AY

TALKING CONSTITUTIONAL DEMOCRACY DR. MIKE OZEKHOME, SAN

0809 889 8888 SMS ONLY

The Imperatives of Leadership (Part 1) INTRODUCTION he principle of leadership has been of interest for hundreds of years, from the early Greek Philosophers such as Plato and Socrates, to the plethora of management and leadership gurus whose books can be found everywhere. Seldom, however, has the need for effective leadership been voiced more strongly than now. It is argued that in this changing, global environment, leadership holds the answer not only to the success of individuals and organisations, but also to sectors, regions and nations. A nation or an organisation without leadership, is like a General without troops or a ship without water to sail on. This is to underscore the importance of leadership. Whether a nation is great or not, or whether an organisation succeeds or not, depends more on its leadership rather than other variables. To this end, we shall x-ray the definition of leadership; what it means; how it operates and its indisputable imperatives.

Definition of Leadership Despite recognition of the importance of leadership, however, there remains a certain mystery as to what leadership actually is, or how to define it. In a review of leadership research, R.M. Stogdill in his book, ‘Handbook of Leadership: A Survey of Theory and Research’, concluded that there are “almost as many definitions of leadership as there are persons who have attempted to define the concept”. At the heart of the problem of defining leadership, lie two fundamental difficulties. Firstly, like notions such as ‘love’, ‘freedom’ and ‘happiness’, leadership is a complex construct open to subjective interpretation. Everyone has their own intuitive understanding of what leadership is, based on a mixture of experience and learning, which is difficult to capture in a succinct definition. Secondly, the way in which leadership is defined and understood, is strongly influenced by one’s theoretical stance. There are those who view leadership as the consequence of a set of traits or characteristics possessed by ‘leaders’, whilst others view leadership as a social process that emerges from group relationships. Such divergent views, will always result in a difference of opinion about the nature of leadership. “Leadership appears to be, like power, an ‘essentially contested concept”. Some definitions of leadership, restrict it to purely non-coercive influence towards shared (and socially acceptable) objectives. Within such frameworks, the likes of Hitler, Stalin and Saddam Hussein would not be seen as leaders, but rather as tyrants working solely for their own benefit and depending on threat, violence and intimidation, rather than the more subtle processes of interpersonal influence more frequently associated with ‘true’ leadership. Such distinctions, however, are always problematic as the actions of nearly all leaders could be perceived more or less beneficially, by certain individuals and groups. In short, leadership is a complex phenomenon that touches on many other important organisational, social and personal processes. It depends on a process of influence, whereby people are inspired to work towards group goals, not through coercion, but through personal motivation. Which definition you accept should be a matter of choice, informed by your own predispositions, organisational situation and beliefs, but with an awareness of the underlying assumptions and implications of your particular approach. Types of Leadership 1. Transformational Leadership 2. Transactional Leadership

Nigerian Leaders: Past and Present

Transformational Leadership Transformational leadership is defined as, a leadership approach that causes change in individuals and social systems. In its ideal form, it creates valuable and positive change in the followers, with the end goal of developing followers into leaders. Enacted in its authentic form, transformational leadership enhances the motivation, morale and performance of followers through a variety of mechanisms. A transformational leader therefore, is a person who stimulates and inspires (transforms) followers to achieve extraordinary outcomes. He/she pays attention to the concerns and developmental needs of individual followers; they change followers’ awareness of issues, by helping them to look at old problems in a new way; and they are able to arouse, excite and inspire followers to make extra effort to achieve group goals. The Transformational leadership theory is all about leadership that creates positive change in the followers, whereby, they take care of each other's interests and act in the interests of the group as a whole. Transformational leadership enhances the motivation, morale and performance of followers, through a variety of mechanisms. These include, connecting the follower's sense of identity and self to the project and the collective identity of the organisation; being a role model for followers that inspires them and makes them interested; challenging followers to take greater ownership of their work, and understanding the strengths and weaknesses of followers, so the leader can align followers with tasks that enhance their performance. Weaknesses of Transformational Leadership First, is the ambiguity underlying its influences and processes. The theory fails to explain the interacting variables, between transformational leadership and positive work outcomes. The theory would be stronger if the essential influence processes were identified more clearly, and used to explain how each type of behaviour affects each type of mediating variable and outcome. Second, is the overemphasis of the theory on leadership processes at the dyadic level. The major interest is to explain a leader’s direct influence over individual followers, not leader influence on group or organisational

“Unlike Transformational leadership, leaders using the transactional approach are not looking to change the future, they are looking to merely keep things the same”

processes. Examples of relevant grouplevel processes include: (1) how well the work is organised to utilise personnel and resources; (2) how well inter-related group activities are coordinated; (3) the amount of member agreement about objectives and priorities; (4) mutual trust and cooperation among members; (5) the extent of member identification with the group; (6) member confidence in the capacity of the group to attain its objectives; (7) the procurement and efficient use of resources; and (8) external coordination with other parts of the organisation and outsiders. How leaders influence these group processes, is not explained very well by the transformational leadership theories. Organisational processes also receive insufficient attention, in most theories of transformational leadership. Leadership is viewed as a key determinant of organisational effectiveness, but the causal effects of leader behaviour on the organisational processes that ultimately determine effectiveness, are seldom described in any detail in most studies on transformational leadership. Transformational leadership theories, would benefit from a more detailed description of leader influence on group and organisational processes. Third, is the insufficient specification of situational variables in transformational leadership. A fundamental assumption of the transformational leadership theory, is that the underlying leadership processes and outcomes are essentially the same in all situations. Fourth, the theory does not explicitly identify any situation where transformational leadership is detrimental. Several studies have shown that, transformational leadership can have detrimental effects on both followers and the organisation. Stevens et al (1995) believes that transformational leadership is biased in favour of top managements, owners and managers. Followers can be transformed to such a high level of emotional involvement in the work over time, that they become stressed and burned out. Individual leaders can exploit followers (even without realising it), by creating a high level of emotional involvement when it is not necessary. If members of an organisation are influenced by different leaders with competing visions, the result will be increased role ambiguity and role conflict. Leaders who build strong identification with their subunit and its objectives can improve member motivation, but excessive competition may arise among different subunits of the organisation. When inter-unit cooperation is necessary to achieve organisational objectives, the result can be a decline in organisational effectiveness. The possibility that transformational leadership has negative outcomes, needs to

be investigated with research methods designed to detect such effects. Lastly, like most leadership theories, the theory of transformational leadership assumes the heroic leadership stereotype. Effective performance by an individual, group, or organisation is assumed to depend on leadership by an individual with the skills to find the right path and motivate others to take it. In most versions of transformational leadership theory, it is a basic postulate that an effective leader will influence followers to make self-sacrifices and exert exceptional effort. Influence is unidirectional, and it flows from the leader to the follower. When a correlation is found between transformational leadership and subordinate commitment or performance, the results are interpreted as showing that the leader influenced subordinates to perform better. There is little interest in describing reciprocal influence processes, or shared leadership. Researchers study how leaders motivate followers or overcome their resistance, not how leaders encourage followers to challenge the leader’s vision or develop a better one. In spite of the numerous criticisms of transformational leadership, its popularity has grown in recent times. For instance, studies have shown that Managers in different settings, including the Military and Business, found that transformational leaders were evaluated as more effective, higher performers, more promotable than their transactional counterparts, and more interpersonally sensitive. Empirical evidence also shows that transformational leadership is strongly correlated with employee work outcomes such as: lower turnover rates, higher level of productivity, employee satisfaction, creativity, goal attainment and follower well-being. Transactional Leadership Transactional Leadership, also known as Managerial Leadership, focuses on the role of supervision, organisation, and group performance; transactional leadership is a style of leadership, in which the leader promotes compliance of his followers through both rewards and punishments. Unlike Transformational leadership, leaders using the transactional approach are not looking to change the future, they are looking to merely keep things the same. These leaders pay attention to followers' work, in order to find faults and deviations. This type of leadership is effective in crisis and emergency situations, as well as when projects need to be carried out in a specific fashion. Transactional leadership works at the basic levels of need satisfaction, where transactional leaders focus on the lower levels of the hierarchy. Transactional leaders use an exchange model, with rewards being given for good work or positive outcomes. Conversely, people with this leadership style also can punish poor work or negative outcomes, until the problem is corrected. One way that transactional leadership focuses on lower level needs, is by stressing specific task performance. Transactional leaders are effective in getting specific tasks completed, by managing each portion individually. (To be continued). Serious and Trivial Week after week henceforth, this column will deliberately include short bites on some sounds and bites. It would include jokes (to soothe our aching nerves); philosophical platitudes (to redirect our steps); and scriptural quotes (to pave the way to eternity). We commence this week. “A frog decided to reach the top of a tree. All frogs shouted, it’s impossible! It’s impossible!! Still the frog reached the top…. How? Because, he was deaf and he thought everyone was encouraging him to reach the top. BE DEAF TO NEGATIVE THOUGHTS, IF YOUR AIM IS TO REACH YOUR GOAL.” - Anonymous THOUGHT FOR THE WEEK “Ultimately, leadership is not about glorious crowning acts. It's about keeping your team focused on a goal and motivated to do their best to achieve it, especially when the stakes are high and the consequences really matter. It is about laying the groundwork for others' success, and then standing back and letting them shine”. (Chris Hadfield)

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Background

he Senate on Tuesday, 12th October, 2021 following a motion for re-Committal of some clauses of the Electoral Act No. 6 2010 (Repeal & Re-enactment) Bill 2021 made some adjustments to the Bill as previously passed by it. The adjustment affected four Clauses, vis 43, 52, 63 and 87. Many have hailed the Senate for these amendments, especially for deleting the proviso in the controversial Clause 63 dealing with the electronic transmission of results which had against popular opinion, subjected the discretion of the Independent National Electoral Commission (INEC) to transmit results electronically to the National Communication Commission’s report of satisfactory network availability coverage and the approval of the National Assembly. Fortunately, wise counsel prevailed, and the Senate harkened to the call of Nigerians and reversed itself even before the scheduled harmonisation conference with the House of Representatives. The euphoria that has greeted this popular change of mind by the Senate, has somewhat overshadowed another critical adjustment done by the Senate. This concerns the mode of nominating candidates for elections. This is certainly one of the most contentious and controversial issues in our democratic journey so far, this term. Our law reports are replete with a plethora of decisions on this pre-election issue between members of the same political party, which touches on internal party democracy and the role of ‘Godfathers’ and ‘Moneybags’, who wield overbearing influence in the political parties in a manner that is antithetical to democratic tenets. It is in an attempt to tame this anti-democratic monster, that the legislature has deemed it fit to intervene in what generally is regarded as the domestic affair of the parties. Clause 87 of the Electoral Act The old and extant provision of the Act, gives parties the discretion to elect to conduct their primaries by ‘direct’ or ‘indirect’ means. The new Clause 87 has taken away this discretion and prescribed that it shall be by direct primaries, thus foisting this mode on all parties. This brings it in line with the House of Representatives’ position. There are pros and cons on both sides, but, this isn’t our focus presently. We are concerned more with some of the pitfalls and shortcomings in the present Bill relating to primaries which has passed its Third Reading, and is therefore, in the last stages of being sent to the President for his assent. If these concerns are not flagged and addressed now, we run the risk that the Bill will become an Act of Parliament, and rather than reform the process and make it better, it will become another untamed monster, as bad, if not worse than the mischief it intended to correct. We should point out however, that although much attention has been focussed on the indirect delegates system as being fraught with issues, this may be so because the majority of the reported cases deal with cases of indirect primaries. While issues of direct primaries have led to most of these reported cases, we should not be misled or seduced into thinking that direct primaries are free of malpractice or rigging. To underscore this, we should take a look at the direct primaries utilised by some parties for the 2019 general elections. We will observe that some of them reported figures, which they could not replicate in the general elections. That’s hard to justify, to put it mildly. So, What’s New in the Clause? The current Section 87 provides that; ‘A political party seeking to nominate candidates for elections under this Act shall hold direct or indirect primaries for aspirants to all elective positions, which may be monitored by the Commission.’ The amended section as passed on the other hand provides thus ‘A political party seeking to nominate candidates for elections under this Bill shall hold direct primaries for aspirants, which shall be monitored by the Commission.’ From the above, two striking differences can be gleaned. Firstly, the proposed law takes away the discretion of the parties. They are now statutorily bound to hold their primaries by direct franchise. The indirect mode of electing delegates has now been abolished; and secondly, the proposed law

Oluwole Uzzi

INEC Chairman, Professor Mahmood Yakubu

The New Electoral Bill: Primaries and Some Pitfalls Ahead This informative article by Oluwole Osaze-Uzzi examines the adjustments made to the Electoral Bill, touching upon the Senate’s reversal of itself vis-à-vis the famous Section 52 of the Electoral Act, examining Section 87 and the introduction of mandatory direct primaries and the possible disadvantages that could arise therefrom, while pointing out that the failure of the National Assembly to amend Section 31(1) of the Act, prevents INEC from giving eﬀect to the qualifying or disqualifying provisions of the Constitution directs INEC to monitor all primaries by replacing the discretionary word ‘may’ with the mandatory ‘shall’. The first alteration may be seen by purists as another intervention by the legislature in what ought to be the domestic affairs of parties which are essentially, voluntary associations of people who come together with like minds for the purpose of furthering their political interests and beliefs, and bound only by the agreement they’ve all voluntarily subscribed to as contained in their Constitution. This school believes that whatever changes needed should equally be left to members to make, if they see the need for so doing. The second, on the other hand, deprives INEC of it’s discretion in the discharge of its duties whether to monitor or not (In practice, it does endeavour to monitor all such Congresses and Conventions). Sub Clause (3) provides retained the comforting assurance that the procedure for nomination ‘...shall ensure that all aspirants are given equal opportunity of being voted for by the members...’ and sub clause (4) gives powers to the parties to the parties to issue guidelines for the conduct as long as they are ‘filed with the Commission at least 14 days before the primary’. By virtue of sub clause (7), all aspirants cleared by the party to contest ‘shall be entitled to a copy of the guideline..’. It may be noted that the law doesn’t specify that aspirants will or shall be given a copy of such guideline, nor does it say the consequence of not filing such with the

“...we should not be misled or seduced into thinking that direct primaries are free of malpractice or rigging”

Commission or withholding copies from aspirants, nor does it require the party to publish such on its website or venue of primary or anywhere for that matter. We have become accustomed to complaints of aspirants and other members that venues were shifted without notice, as was the case of a serving Minister who accused a Senate leader from the same State as orchestrating the unlawful conduct that led to his fruitless search for the venue (which is now subject to litigation), accused of not being privy to the guidelines for conduct. Perhaps what should be of the greatest concern and worry is the fact that while the law specifies guidelines formulated by the parties being filed with the Commission and aspirants being entitled to same, it is silent on the register of members entitled to vote at such primaries. This being so, it is now left to the parties to capture this in their guidelines, or be silent about it and do as they please. This is worrisome. Recommendations and Concerns It is recommended that safeguards need to be put in place, by enshrining in the law a mandatory requirement that the parties maintain a register of their members and not only that copies of the register of those entitled to vote at the primaries be filed with INEC, but also that copies be given to all cleared aspirants along with the guidelines specifying the procedure adopted and the date, time and venue of the primary at least 14 days to the day of the primary . If INEC is statutorily required to publish such information, there is no reason why this should not apply mutatis mutandis to political parties who are expected to be the drivers of our democracy. Further, while the mandatory monitoring of the direct primaries by INEC as proposed in the amendments is desirable to ensure compliance and transparency, it does throw up some rather Herculean challenges. Contrary to an assertion by a ranking Senator driving these amendments on network television recently that direct primaries are ‘cheaper’, it will become a lot more expensive, not only for aspirants and the parties, but also for the Commission and all other stakeholders, whether it is done in one

central location or in all Wards/Registration Centres. If done centrally, members will have to incur the expenses and logistic challenges of getting to the venue, which may now have to be undertaken by aspirants or moneybags, thus, reinforcing rather than addressing the mischief. If at the other extreme, it is done in the Wards/ Registration Areas or Polling Units which are much closer to members, there will be the additional burden on other stakeholders including the Commission, which by virtue of sub-clause (6) is required to ‘deploy personnel to all Centres where the direct primaries are held’, Security Agencies, the Media, Observers and even the aspirants, who Clause 87(3) permit to have agents ‘for the purpose of monitoring the primaries’. There are presently 8,809 RAs/Wards. If INEC or any of the listed stakeholders were to deploy a representative to each of these Centres for the 18 political parties (who are now mandatorily required to do direct primaries), one can only imagine the cost and logistic challenges in so doing, not to mention it being undertaken in over 170,000 polling units nationwide. Attention is also drawn to the vexed issue of the retention of the proviso to Section 31(1) of the Act which stipulates that ‘The Commission shall not reject or disqualify candidate(s) FOR ANY REASON WHATSOEVER’ (emphasis mine). The continued retention of this means that the Commission cannot give effect to the qualifying or disqualifying provisions of the Constitution. So, if for example a non-Nigerian citizen, or an underaged person, or convicted felon, or even someone who has presented a forged certificate to the Commission was to be sponsored by a political party and his name forwarded to INEC, the Commission will have no choice but to accept same and put the person’s name on the ballot. Surely, this absurdity could not have been the intention of the drafters of our Constitution. This is another opportunity to correct this anomaly, and to address some of the the other pitfalls identified here. These are by no means exhaustive. We should not let it pass us by. Stakeholders should take note, and pressure the National Assembly to accordingly do the needful, failing which pressure may be brought to the issue of Presidential assent; stakeholders may consider whether to request the President to give or withhold his assent to the Bill yet again. Oluwole Osaze-Uzzi, Esq., Legal Practitioner

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The Lagos State Judicial Panel of Inquiry at one of its sittings

Who is Afraid of the Lekki Judicial Panel of Inquiry Report? October 20, 2020 will go down in the annals of Nigeria’s history, as ‘Black Tuesday’. It was the evening during which a nation watched in bewilderment, as the Army rolled out its armoury and opened fire on hapless, unarmed and defenceless Nigerian Youths who congregated at the Lekki Tollgate Plaza to join in the protest to end Police brutality in Nigeria. Ironically, they ended up being brutalised, also by the Police once again! As would be expected, the Lagos State Government set up a Judicial Panel of Inquiry, to examine the remote and immediate causes of the unfortunate incident, and determine whether or not, lives were lost. The Panel last week submitted its damning Report to the Lagos State Governor; a Report which has not been officially released, but, somehow leaked to the Public. The findings which have been discussed on various news platforms even by Counsel to the Lagos State Government, indicate that the Lekki incident was nothing short of a massacre. Femi Falana, SAN, Olumide Babalola and Sam Akpologu delve into the vexed issue, and draw attention to the salient points in the Report Massacre at Lekki Toll Gate, JPI Recommendations Must be Implemented to the Letter Femi Falana, SAN Background

or several years, the human rights community had called for the prosecution of the Operatives of the Special Anti Robbery Squad (SARS) over incessant arrests, detention, torture and extrajudicial killing of citizens. As such calls were ignored by the authorities, the SARS intensified the brutalisation of citizens, particularly young people. The video of the reckless killing of an unarmed young man in Delta State sometime in the first week of October 2020 by

trigger-happy SARS officials went viral, and led to spontaneous street protests in many States of the Federation and the Federal Capital Territory. In its initial reaction to the protests, the Federal Government announced that SARS would undergo some reforms. Since the Government had ignored the reports of many administrative panels that made a strong case for Police reforms in the recent past, the Youths distrusted the authorities. They continued the peaceful protests, and demanded for the immediate disbandment of SARS. Having regard to the popularity of the protests which spread like a bush fire in the harmattan, the immediate past Inspector-General of Police, Mr Abubakar Adamu, announced the dissolution of the notorious SARS and replaced it with the Special Weapons and Tactics (SWAT). At that juncture, the Federal Government hurriedly released the report of the Presidential Panel on Human Rights Abuse by the Police which had been submitted since 2018, and directed the Police

“Upon sighting the armed soldiers, the #EndSARS Protesters waved the Nigerian flag and sang the national anthem. Without any provocation whatsoever, the soldiers opened fire on the Protesters”

Authorities to dismiss indicted officers, and prosecute those who had engaged in illegal execution of criminal suspects and other citizens. Furthermore, the Federal Government and the various State Governments instituted Judicial Commissions of Inquiry to probe sundry allegations of Police brutality (which had been ignored over the years), in accordance with the directive of the National Economic Council. Hijack of the Protests by Armed Thugs Notwithstanding that the protests were acknowledged to be peaceful, the Federal Government became frustrated that they were not called off. In Ogbomoso, Oyo State, Port Harcourt, Rivers State, Asaba, Delta State, Benin, Edo State, and other cities, the Police killed scores of Protesters without any basis. In Lagos and Abuja, the Protesters were attacked by a gang of hired thugs. The Protesters promptly arrested the thugs, and handed them over to the Police for prosecution. But, as the criminal elements were released by the Police, the so-called saw a free rein for thuggery and stepped in to hijack the protests. The armed thugs engaged in the killing of Policemen, set private and public buildings on fire, attacked Police stations and Correctional Centres where they freed a number of convicts and awaiting trial inmates. Army Invasion of the Lekki Tollgate Under the pretext of collaborating with the Police to restore law and order, a battalion of the Nigerian Army invaded the Lekki Tollgate

in Lagos. Upon sighting the armed soldiers, the #EndSARS Protesters waved the Nigerian flag and sang the national anthem. Without any provocation whatsoever, the soldiers opened fire on the Protesters. Some of the Protesters were killed, while others were injured. It was a case of what Fela Anikulapo-Kuti once referred to as "Sorrow, tears and blood". As the killing of the unarmed Protesters defied the rules of engagement of the Armed Forces, the Army Headquarters became embarrassed and denied that troops were present at the Lekki Tollgate. The Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami, SAN said that those who attacked the Protesters were hoodlums who wore military fatigue. On not less than five occasions, the Minister of Information, Alhaji Lai Mohammed, has categorically denied the killing of any Protester. In challenging the claim of the survivors, Alhaji Mohammed said that it was a case of killing without bodies and names. But, when confronted with irrefutable digital evidence by the #EndSARS Protest movement, the Army turned round to admit that soldiers were at the Lekki Tollgate to stop the protest, and that they only shot rubber bullets into the air! Four Military Officers at the JPI Thereafter, four military officers appeared before the Lagos State Judicial Panel of Inquiry on Restitution for Victims of SARS Related Abuses and Other Matters headed by Justice Doris Okuwobi (Rtd), where they gave evidence and denied the allegation of the killing of Protesters. But, the military officers and their Lawyers suddenly withdrew appear-

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Who is Afraid of the Lekki Judicial Panel of Inquiry Report? ance from the Panel as soon as eye witnesses, victims including amputees, relations of those who were killed, medical personnel and other experts appeared to give evidence at the Panel. Thus, as the Commission rightly pointed out that the overwhelming evidence of the eye witnesses and forensic experts which implicated the Military and Police personnel who carried out the brutal killing of the Protesters, was not challenged by way of cross examination. Report Handover The Justice Okuwobi Judicial Commission, submitted its report last week. Upon receiving the report, Governor Governor Babajide Sanwoolu confirmed that the Government did not interfere with the work of the Commission when he said that “It is instructive for us to put it out on record, that the Panel has been totally independent. The Panel has had its full request and has been given full authority to summon, to inquire, to ask, to request anybody or anything so wished that would help them come to their conclusion”. The Governor commended members of the Panel for the work done, adding that posterity will be kind to them. He said the report will be submitted to the National Economic Council (NEC), adding that “proper response” will be accorded to the recommendations. The Governor has already constituted a fourmember Committee headed by Mr Moyosore Onigbanjo, SAN, the State’s Attorney-General and Commissioner for Justice, to come up with a White Paper on the Panel’s recommendations within the next two weeks. Having accepted the report in good faith, the Governor said: "I’m believing and trusting that this process will help us start the very difficult process of proper reconciliation, restitution, bringing together of anyone that must have in one form or the other, been affected. By either the Police or any of our citizens that must have been wronged in one form or the other, the process of healing, I imagine, with the submission of this Panel report, will start that process”. The Leaked Report After the official presentation of the report, a leaked version was circulated on social media. In its 309-paged Report, the Panel found that soldiers stormed the Lekki Toll Gate to disperse #EndSARS Protesters on the night of October 20, 2020; and that at least 48 Protesters were either shot dead, injured with bullet wounds or assaulted by soldiers. According to the report, nine protesters were confirmed dead, while four were presumed dead. Among the 48, about 20 sustained gunshot injuries, while 13 others were assaulted by the military. The Panel also noted that 96 other corpses were presented by a forensic pathologist at the Lagos State University Teaching Hospital, Prof John Obafunwa. It was confirmed by the Panel, that the Protesters were killed by Policemen and soldiers. Consequently, the Panel recommended that all officers and soldiers that were deployed in the Lekki Tollgate on October 20, 2020 should be made to face appropriate disciplinary action, stripped of their status, and dismissed, “as they are not fit and proper to serve in any public or security service of the nation”. The Commission further recommended that the Divisional Police Officer of the Maroko Police Station along with the Policemen deployed from the Maroko Police Station on October 20 and 21, 2020, be prosecuted for arbitrary and indiscriminate shooting and killing of Protesters. The Commission recommended that the Lekki Toll Plaza be made a memorial site for the Protest by renaming it the #EndSARS Tollgate, and that October 20 of every year be made a “toll free day” at the Plaza, as long as the Tollgate exists. The findings of the Commission, are a complete negation of the consistent claim by the Federal Government that there was no massacre at the Tollgate during the nationwide protests against extrajudicial killings and Police brutality by Operatives of the SARS. Having read the report, I wish to state without any fear of contradiction, that the Panel gave everybody fair hearing, analysed the oral and documentary evidence, summarised the findings and made profound recommendations. The Nigerian Army which withdrew its officers from the proceedings of

Femi Falana, SAN the Panel, has itself to blame for the indictment of its personnel. Critics of the Report and Campaign of Calumny In defence of the security officials, a few persons had attempted to pooh-pooh the findings of the Commission and discredit the members. Furthermore, the Lekki Concession Company Limited, an agency of the Lagos State Government which later disabled the CCTV camera at the Lekki Tollgate which captured the tragic incident of the night in question, had issued a press statement to condemn the wanton killing of the Protesters. A copy of the press statement was tendered and admitted in evidence, during the proceedings. In any case, the controversy surrounding the findings of the Commission is centred around the number of the Protesters that were killed, and not that the killings did not occur. But, it is on record that a few hours after the incident, Governor Sanwo-Olu had disclosed that two people were killed at the Lekki Tollgate. The disclosure was made after the Governor had visited several injured people, who were then receiving treatment in some hospitals. It is therefore, crystal clear that those who are out to discredit the report are obviously weeping more than the bereaved. But, no amount of a campaign of calumny can impeach the solid credentials of members of the Judicial Commission. The Panel was led by Doris Okuwobi, a retired Judge and former Solicitor-General and Permanent Secretary in the Lagos State Ministry of Justice. Other members are Taiwo Lakanu, a retired Deputy Inspector General of Police, Ebun Adegboruwa, a Senior Advocate of Nigeria and Patience Udoh (representing the Civil Society), Segun Awosanya (human rights activist), Olutoyin Odusanya (Director, Lagos Citizens Mediation Centre), and Temitope Majekodunmi, a Youth representative. The remaining two members, who were among the Protesters, resigned from the Panel. No doubt, the Lagos State Government must have been stunned by the findings of the Commission. Action Unlike similar bodies in other States of the Federation, the Okuwobi Commission was empowered by the Lagos State Government to pay compensation to the victims of Police brutality in deserving cases. Based on its findings,

“…..Alhaji Mohammed held many news conferences where he insisted that CNN lied about the shootings….that CNN should be sanctioned. Alhaji frontally denied that there was any casualty, as a result of the shooting spree of October 20…. However, with the findings of the Panel on the shooting of live bullets and the evidence of casualties at the scene, CNN has been vindicated…..”

the Commission was able to pay not less than N409 million to victims of illegal detention and torture, as well as bereaved family members of unarmed citizens who were extrajudicially executed by some trigger-happy Police officers. However, as Police brutality has continued unabated the Okuwobi Judicial Commission has rightly recommended the establishment of a standing Human Rights Committee, to address the allegations of human rights abuse by security forces. Since the Panel was only able to attend to 186 out of the 252 petitions submitted to it by victims of Police brutality, the Panel urged the Government to authorise the proposed Human Rights Committee to consider the remaining petitions. Contrary to the antics of the critics of the report of the Commission, the Lagos State Government has demonstrated its readiness to implement the recommendations. It is pertinent to note that, while the Commission was sitting, the Governor Sanwo-Olu visited the homes of the six Police officers who were killed in Lagos during the protests, paid them N60 million, and announced that the State Government would educate the children of the slain officers up to University level. The widow of a Spy Policeman who was killed by the mob, has equally been compensated by the State Government. To stop the Police from killing participants during peaceful rallies and public meetings, the Lagos State Government has equipped the State Police Command with canisters of teargas and water canons. Commendation The members of the Okuwobi Judicial Commission of Inquiry, deserve commendation for the thorough investigation of Police brutality in Lagos State. In view of the integrity of the members of the Panel and the quality of the findings, I am confident that the Lagos State Government will pluck up the courage to implement the remaining recommendations of the Commission. President Muhammadu Buhari has said that the Federal Government is awaiting the report of all the Judicial Commissions of Inquiry instituted by the State Governments, with a view to taking appropriate action on the recommendations. The Lagos State Government and other State Governments, should not hesitate to forward the reports of the Commissions to the Federal Government. To that extent, the Commissions that are still sitting should conclude the national assignment without any further delay. Conclusion Finally, while commending the witnesses and their Lawyers for exposing the official cover up of the egregious human rights abuse perpetrated by the merchants of death in the country last year, the Federal Government and the various State Governments should ensure that venues are designated where aggrieved citizens can hold rallies in exercise of their fundamental rights to freedom of expression and assembly guaranteed by Sections 39 and 40 of the Nigerian Constitution. The violent attack of unarmed Protesters during peaceful

rallies by Military personnel, should be completely halted by the Federal Government. This demand is in line with several decisions of Nigerian courts, against the involvement of Military personnel in the maintenance of internal security in the country. Since Section 83 (4) of the Police Establishment Act 2020 has imposed a duty on the Police to provide adequate security for citizens who participate in public meetings and rallies, the Inspector-General of Police should stop the Police from subjecting Protesters to unwarranted attacks. Femi Falana, SAN, Human Rights Lawyer; Recipient of the Bernard Simmons Award of the International Bar Association

#EndSARS Panel Report: The International Community is Waiting Olumide Babalola After Covid-19, the most publicised and discussed singular event of the year 2020 in Nigeria was the EndSARS movement, its consequences and tragedies. For the sake of posterity and my stern belief in freedom of expression, #EndSARS should not merely be referred to as a Protest. It was much more than a mere protest - a term that has suffered many indignations and resistance by the powers that be. It was an unprecedented expression of exasperation by the Nigerian youth, as a result of the unthinkable activities of the Nigeria Police over the years. Ever since my Law Firm was briefed by the Cable News Network (CNN) to represent them at the #EndSARS Panel, and our necessary objection to the geographical jurisdiction of the Panel to summon CNN, I had followed the Panel’s proceedings with bated breath. Hence, my huge relief upon sighting the leaked copy of the Panel report. So much has been written about the #EndSARS, by home and international press; hence, my intervention here is not about what it is or what is not. Rather, I will attempt a brief but explanatory breakdown of the Report of the Lagos State Judicial Panel of Inquiry, on restitution for victims of SARS related abuse and other matters (the #EndSARS Panel or the Panel). Background On the evening of the 20th day of October, 2020, Nigerians and the international community were alerted to news of sporadic shooting by a combined team of Army officers and Policemen at the Lekki Tollgate in Lagos State. The Army and Police had been conscripted by Government, to disperse the ongoing #EndSARS demonstrations against Police brutality at the Tollgate that evening. Expectedly, after the shooting spree, there were allegations and counter-allegations of bloodletting and maiming of several Protesters at the Tollgate by the Army and the Police. Prior to the unfortunate event of October 20, 2020, on the previous day, the Governor of Lagos State had constituted the #EndSARS Panel to investigate allegations of highcont'd on page X

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Who is Afraid of the Lekki Judicial Panel of Inquiry Report? cont'd from page IX

handedness and brutality levelled against the defunct Special Anti-Robbery Squad (SARS) – a unit of the Nigeria Police Force, specially devised to investigate and arrest the growing spate of armed robberies in the country. When the ‘Lekki Tollgate’ happened on us, the Lagos State Governor, Mr. Babajide Sanwo-olu extended the #EndSARS Panel’s term of reference to include the incident and to make recommendations, among other functions. The Leaked Panel’s Report On Monday, the 15th day of November, 2021, major news platforms reported that the #EndSARS Panel had submitted its report to the Lagos State Governor. Barely three hours after the news was reported, an unsigned copy of the Panel’s report (running into 309 pages) was leaked to the public. Expectedly, the leaked report has generated a lot of buzz culminating in denials even from a member of the Panel, that it may not be the submitted version. One of the Counsel that represented Lagos State Government, has also gone to town with his perceived ‘missing links’ in the report. Notwithstanding the divergent opinions on the form and substance of the report, this article is based on the version that has been made public yet. Knowing Nigerian public authorities’ antecedents, the submitted version may never be made public, even if the heavens fall. The Findings and Conclusions To make this reader-friendly for non-Lawyers, I will summarise the decisions of the #EndSARS Panel with the following questions and answers: 1. Was the demonstration of the 20th day of October, 2020 at the Lekki Tollgate peaceful? The Panel was sincere enough to find that, despite some reported unruly protesters in other parts of Lagos State, the particular protest at the Lekki Tollgate was largely peaceful, because the Government was duly informed, and some celebrities involved properly managed the situation to avoid clashes between the Police and Protesters. (Page 282) 2. Was the Protest at the Lekki Tollgate hijacked by hoodlums as claimed by the Government? While there was reported commotion in other parts of Lagos, Lekki Tollgate was peaceful, and there was no need for Army or Police presence at all. The Panel interestingly, found such presence was an interference with freedom of association and freedom of speech guaranteed by the Constitution. (Page 284) 3. Did the Lagos State Government invite the Army to Lekki Tollgate? While the Report merely states that the Army was invited, it does not categorically state that it was the Lagos State Government that invited them. (Page 284) 4. Did the Army shoot blank or live bullets at Protesters at Lekki Tollgate? At about 6.40pm on the 20th day of October, 2020, the Army from 65 Battalion acting under 81 Division Garrison arrived at the Lekki Tollgate, and they shot both blank and live bullets at the unarmed Protesters, killing and maiming many in the process. (Page 285 and 289) 5. Did the Police aid the Army at the Tollgate? Even though the Divisional Police Officer (DPO) of Maroko Police Station denied mobilising his men to Lekki Tollgate on October 20, the Panel found that the Police did not only support the Army, they shot and killed Protesters on that day. (Page 290 to 293) 6.Was there a Massacre at Lekki Tollgate? Upon defining the term massacre as the killing of multiple individuals without moral justification, the Panel found that by killing and maiming many people at Lekki Tollgate on the 20th day of October, 2020, there was massacre, and this finding is supported by a list of the victims’ names included therein. (Page 294 to 297) Panel’s Recommendations Ultimately, the Panel made a number of recommendations including: a better welfare package for the Police; disciplinary actions against some Army/Police Officers involved; the prosecution of the DPO in Maroko Police Station; naming of the

Olumide Babalola

Sam Akpologu

Tollgate after #EndSARS, and preserving the ernment’s setting up of the Panel. History memories of the lives that were lost on October and past experiences have shown that the 20, 2020 and the #EndSARS movement. etc. Government is often uninterested in whatever reports come out of such panels, especially Conclusion where Government actors have been indicted. I am not unmindful of the unsurprising fact In the #EndSARS case, it was not a regular that the leaked report has been caught in the kind of protest. It had international flavour, crossfire of denials and counter-allegations and attracted global interest. Hence, the by the masked and declared antagonists and international community is waiting on the protagonists of the #EndSARS movement - Nigerian Government to see what their next which was acknowledged by the Panel as a move will be on the damning report, especially very organised and well-coordinated advocacy. in the wake of its Lawyers’ discovery of ‘missing (see Page 11 under the executive summary) links’ in the circulated report. In the past few days, we have read reports Olumide Babalola, Digital Rights Lawyer, of allegations of discrepancies in the report, Co-founder of Digital Rights Lawyers amidst characteristic unfair castigation of the Initiative; Author of several law books; Panel members. In a similar pattern, the Cable Counsel to CNN at the Lagos State Judicial News Network (CNN) which was copiously Panel Inquiry on the #EndSARS Protest referenced in the Panel’s proceedings and Lekki Incident of October 20, 2020 Report, has also had its own fair share of Government attacks and intimidation for reporting the Lekki shooting incidents. Immediately after the Lekki shooting, the Federal Government through the Minister of Information, Alhaji Lai Mohammed, had on many occasions attempted to intimidate and Sam Akpologu threaten CNN for ‘misleading the public’ on what happened at the Lekki Tollgate. For the Introduction avoidance of doubt, Alhaji Mohammed held Now that the report of the #EndSARS Judicial many news conferences where he insisted Panel of Inquiry (JPI) is finally in the public that CNN lied about the shootings, and the space, albeit that it is the leaked version, some reportage was fake news, and that CNN should antagonists of the #EndSARS movement have be sanctioned. Alhaji frontally denied that there been trying to pick holes in the report. They claim was any casualty, as a result of the shooting that the inclusion of about two or three names in the list of those killed by the armed forces spree of October 20. As if that was not enough, the Government at Lekki Tollgate, was questionable. However, orchestrated the invitation of CNN and its in my opinion, the proof of just one death staff to the Panel to confirm its news report, is enough to destroy the case which they've in spite of the volume of evidence of what peddles hitherto, and lends credence to the happened at the Lekki Tollgate in public space. veracity of the #LekkiMassacre2020. In the face of the evidence in support of the With the benefit of hindsight, CNN, after all, made a good decision in challenging the court’s allegation of a massacre that the Government territorial decision, otherwise further accusing tried frantically to cover up, all that is required fingers may be pointed at the international to prove the case of massacre is a corroboration. This is what the Government-setup Judicial news giant as we write. However, with the findings of the Panel on Panel of Inquiry (JPI) has done. It has confirmed the shooting of live bullets and the evidence the killing of at least nine persons. Questioning of casualties at the scene, CNN has been the inclusion of three names out of the nine vindicated for reporting the unfortunate deceased persons named, does not detract from incidents of the 20th day of October 2021. the case already established considering the Ultimately, irrespective of whatever faults the following: Government or its apologists may find with the report, a number of facts remain unassailable 1. Uncontroverted Evidence of the Use of to wit; the Lekki Tollgate protest was peaceful; Military Grade Bullets On the day of the unfortunate incident, DJ it was not hijacked by hoodlums; the Army was invited where it had no business; many Switch posted a live video of the armed forces people were killed and wounded - confirming shooting at the Protesters. Now the JPI's finding the reports of massacre and attendant cover is that, without a doubt, live ammunition were fired at the defenceless Protesters. In fact, if up and intimidation. Conclusively, a lot of people had earlier only one live ammunition was recovered expressed their pessimism towards the Gov- and confirmed to have been used at the site of the protest, it is enough to lend credence to the allegation that what was seen in the live video, was live ammunition being used against defenceless Protesters. Good enough, the evidence of the use of live ammunition was uncontroverted, rightly admitted by JPI, evaluated and ably relied upon to give credence to the conclusion reached by the JPI.

“The established and uncontroverted fact that sweepers were deployed to sweep the scene of crime before investigations could be allowed, speaks volumes in corroboration of the allegation of a massacre…..If the Government had nothing to hide, why was it sweeping a scene of crime before investigation?”

Was the Lekki Tollgate Incident a Massacre?

2. The Frantic but failed efforts by the Government to Conceal Evidence The established and uncontroverted fact that

sweepers were deployed to sweep the scene of crime before investigations could be allowed, speaks volumes in corroboration of the allegation of a massacre. In every adversarial system of adjudication, the fact of concealment of relevant evidence is resolved against the person concealing or attempting to conceal the evidence (especially where the availability of such evidence, would have been detrimental to the party concealing or attempting to conceal such facts/evidence). If the Government had nothing to hide, why was it sweeping a scene of crime before investigation? The juxtaposition of the allegation of a massacre, with the uncontroverted evidence of such untoward activity on its own, without more, is enough to prove to an objective and reasonable man that there was a massacre. 3. The Confirmed Deaths If just one Lekki Tollgate death was confirmed, it shows that the shots seen in DJ Switch's video were the unleashing of live ammunition, and they were fired at the crowd not in the air leading to the death of many people (the bodies of whom were allegedly carted away). Witnesses claimed to have seen the Military carting away bodies. The Military came for the Panel session. They couldn't contradict those pieces of evidence. This again, lends credence to the allegation that a massacre took place at the Lekki Tollgate Plaza on October 20, 2020 Now, What is a Massacre? It is "The killing of a considerable number (usually limited to people) where little or no resistance can be made, with indiscriminate violence, without necessity, and contrary to civilised norms" (http:// wiktionary.org). No better scenario best fits the above definition of a massacre, than the firing live military grade ammunition at a crowd of harmless Protesters (while they were doing nothing but sitting on the ground, waiving the national flag and singing the national anthem), and killing them indiscriminately without recourse to any rule of engagement, such that at least nine (or six) persons were confirmed to have been killed in that exercise, while an unknown number of such slain persons were evidently concealed by the perpetrators. It is therefore, too late in time to try to argue on behalf of the Government against the conclusion reached by the #JPI. Such arguments are puerile, infantile, unreasonable and unfortunately callous. It is even more otiose and a no-brainer, to hope to discredit the allegation of a massacre by trying to pick holes in the JPI's report. The JPI was a creation of the Government, which has been accused of trying to cover up its atrocities. It was so bad that even a member of its Panel, practically alleged sabotage and subterfuge. The present report would have been an opportunity for the Government to play to the gallery, and redeem its already battered image in this matter. This is an opportunity for the Government to prove to the world that it did set up the Panel, because it didn't want to sweep the issue of #EndSARS under the carpet. It would have been another opportunity to bridge the gap, and douse the tension brewing in the polity. Unfortunately, when all a man knows how to use is a hammer, every problem would look like nail to him. Sam Akpologu, Human Rights Lawyer, Lagos

T H I S D AY • TUESDAY, NOVEMBER 23, 2021

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

Tackling Afro-phobia and the Dynamics of Race Relations Over the years, while attention has been focused more on racism, little attention has been paid to the issue of segregation among Black and the African race. To address this issue, Chiemelie Ezeobi and Uzoma Mba report that the Centre for Black and African Arts and Civilisation recently held a symposium in Ife

Ooni of Ife

hen the Centre for Black and African Arts and Civilisation (CBAAC) was established, it was on the premise that it would preserve, promote and propagate African heritage and culture. Recently, in its role as a foremost cultural agency, the centre held a symposium right in the cradle of civilisation- Ife in Osun State. Tagged Black And African Peoples, Resurgent Racism and the Challenges of Development in the 21st Century: Afro-phobia and the Dynamics of Race Relations, the symposium was held at the Ife Grand Resort and Leisure. For CBAAC, it was pertinent to discuss issues of xenophobia, tribalism, nepotism and more recently clan against clan given that attention has been solely focused on racism (white on black discrimination).

Tackling Afro-phobia In her address, CBAAC Director General, Hon. Oluwabunmi Ayobami Amao, said the topical issue affects the social, political and economic development of Black and African peoples and their quest for recognition and appreciation- that is the reoccurring issues of racism and racial inequality. Stating clearly that the struggle against racial and ethnic oppression and the strategies of resistance to exploitation that have characterised Black and African peoples for centuries seem all the more relevant as contemporary ethnic and racial conflicts pervade the world, she further posited that "this is more so as recent events have shown that the issues of systemic racism and racial injustices against the black race can only be dismantled and won when there is a deliberate effort by Black and African peoples to redirect their focus and attention into building synergies. "Unfortunately, while attention is focussed more on horizontal racism; that is, white versus black, little attention has been paid to the issues of segregation among Black and African peoples. "By this, I mean issues of xenophobia, tribalism, nepotism and more recently clan against clan. It is even more pathetic

CBAAC DG, Hon. Amao when lives are taken indiscriminately without any recourse to the essence of live itself. "These vices, if not put in check, will undermine effort being made to chart a common cause for the Black race, as a people divided against themselves cannot speak with one voice. "The African Culture promotes good neighbourliness and believes in the sacredness of lives. Therefore, CBAAC wishes to add her voice to the advocacy that every live matters". Therefore, she said CBAAC, as a foremost Pan African Agency for cultural advocacy, organised this symposium to provide a platform where issues that affect Black and African peoples and their challenges to development, with particular reference to the contentious issues of Afro-Phobia. Amao further stressed that until black injustice against fellow blacks is also addressed, the fight against racial abuse by Africans and peoples of African descent will not yield any results. She said: "Interestingly, the 21st century has been tagged the decade for Africa’s development. And, this can only be attained when there is a shift of focus by Black and African peoples to building synergies and devising strategies that would enhance mutual cooperation and collaboration. " Africans, and indeed the black race must as a matter of necessity come together to facilitate and promote black consciousness, Integration and development." Diversity as Source of Strength Stressing that our diversity as African peoples should not be seen as a drawback to our existence and

progress, she said rather it should rather be viewed as a source of strength, "hence we must continue to work towards harnessing it for our unity and development. “This topic is germane at this august period in our lives. Africans should shift their attentions from segregation. The moment for us to sue for peace is now. This is why we have the panelists here who know the core of the issues and what to say and do to remedy the situation. There is need for us to look into the root causes of black on black and nip it in the bud and try to show love instead of war and hate. "If these ills are not stopped now, we as Africans may not go far in our quest to overcome resurgent racism and the challenges of development in the 21st century. Therefore, we can only achieve a united front when we have mutual inspiration and regard for one another”. Charge to Africa Charging Africa and indeed Africans to do more to move out of perpetual poverty and economic stagnation, the Special Guest of Honour (SGOH), the Ooni of Ife, Oba Adeyeye Babatunde Ogunwusi, also shared his rich repertoire of knowledge with the guests. Stressing that Africans are generally very strong, the Ooni wondered what has gone wrong with the black man and the African continent generally. He said, "Here we are still within the traumatic after effects of slave trade. When those responsible for the plantations in the industrial nations discovered that Asians or European were too weak physically to work in the plantations, they looked towards

Until black injustice against fellow blacks is also addressed, the fight against racial abuse by Africans and peoples of African descent will not yield any results

Africa. "Now, all other continents have since recovered and have moved on, but Africa still recounts her losses and yet refuses to move on. I am proud to be an African, a black man. It is the best colour in the world. "Look around you, all the strong sports at the Olympics, for instance, it is Africans that dominate. But we have to do more to move out of perpetual poverty and economic stagnation." Panelists Setting the tone for the symposium, the panel moderated by Obinna Ezeokeke had panelists comprising Bisayo Busari – Akinnadeju, Fauno Nadah, Olufisayo Bakare, Christian Kolawole Love, Angela Eyekosi and Sola Babatunde. While Love posited that Africa is the future of the world, Babatunde said it's important not to make ourselves inferior to the next person. Also, Fisayo stressed that we must own our narratives as Africans and not be influenced by outsiders, while Nadah said we must continue to seek unique ways to be able to meet a common front. Deluge of Entertainment In between the panel discussions and goodwill messages, the guests were also entertained by the Master of Ceremony Spirit of SACO, while the Segun Johnson band thrilled them with melodious tunes. Also, Filudara, the talking drummer and the Island Theatre Villa, engaged the guests too. Commendation Meanwhile, while showering commendations on the CBAAC DG earlier, the Ooni said her relentless drive in sensitising the public on the social and cultural issues that affect the black race should be applauded. He said: "The DG is doing well. I had to cancel my other programmes for this one. This is a compact, quality gathering and the topic of discussion is relevant in our modern times. "We Africans seem to be the guinea pig of the world. However, programme of this nature can help to put a stop to such a situation."

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How Alpha Mead is Championing Green Residential Accommodation with EDGE Terhemen-Mark Chieshe

frica has a growing housing crisis. The continent has a 56 million housing unit shortfall, a 1.18 billion population predicted to double by 2050, and a 3.5 percent urbanisation rate per annum, adjudged as the fastest in the world. Analysts estimate the continent requires 4 million housing units per annum to fix the gap. These statistics reflect decades of housing delivery programs that delivered sub-optimal results and the magnitude of the challenge that lies ahead if the trend is allowed to continue. They also underscore the urgent need for a fundamental shift towards more effective and innovative measures. Given the compounding nature of the problem, it simply cannot be business as usual. Governments and private sector players in the built environment must embrace inherently primed measures to deliver broader impact and consequently bend the curve in the nearest future. One such solution lies in the widescale adoption of green buildings. This global trend emphasises buildings whose design, construction, and operation have minimum to zero adverse environmental effects. They use energy and water more efficiently and are a higher-value, lower-risk asset than standard structures. Evidence shows green buildings decrease operational costs by up to 37 percent, achieve higher sale premiums of up to 31 percent and faster sales times, and have higher rental income. Due to the global shift of finance towards sustainable investments, green buildings are becoming a more attractive destination for international funding. Therefore, green buildings present forwardlooking African real estate developers and institutional investors the opportunity to forge a more sustainable and impactful path towards fixing the continent's housing crisis. This includes the unique ability to unlock innovative housing finance sources that are key to fixing the housing supply deficit and building sustainable business portfolios in line with the global drive towards a climate-smart, zero carbon economy that is not only good for the environment, but also good for business. The good news is that the green building movement is gaining traction in several African markets, including South Africa, Kenya, Ghana and Nigeria. Several market players have recognized the business opportunities that it portends and are already mapping out "green" niches in key construction sectors from residential accommodation, premium office buildings to student housing. This is good for Africa.

Alpha Mead: Building Green is Good Business A good example is Alpha Mead Development Company, forward-looking, and innovative real estate firm with operations in Nigeria and several other African countries. A leading pioneer of green buildings, Alpha Mead recognises sustainable buildings business and ethical opportunities. This includes a viable path to achieving its corporate vision to be a market leader/standard-setter in the design and delivery of resource-efficient residences to its broad range of clientele and the historic chance to attain its ethical ideals as an environmentally responsible business entity. Alpha Mead's green building push in the residential housing segment is most evident in Lagos, Nigeria's bustling economic, industrial, and commercial capital. In Lagos, 60–65 percent of business professionals are tenants due to the high home prices and the lack of affordable mortgage products, according to Residential Auctions Company, a real estate research company in Nigeria. With an estimated population of 23 million inhabitants, a housing deficit of about 2.5 million units, and an upwardly mobile middle class with an eye for luxury living, the state provides the perfect mix for attaining Alpha Mead's sustainability housing goals. Alpha Mead's signature green residential project in Lagos is the Lekki Pearl Estate https://edgebuildings.com/project-studies/ lekki-pearl-estate/. The estate, located on the fastest growing real estate corridor in West Africa, Lekki-Epe, adjacent Lagos Business School, comprises 112 flats, contemporary terrace units, and semi-detached apartments. The residences target the mid-to-high-end segment

Lekki Pearl Estate, Lagos, Nigeria of the Lagos market. Lekki Pearl Estate has bedrooms with outdoor terraces, spacious and well-ventilated living spaces designed to house families. EDGE Certiﬁcation as Key to Differentiation To tap the business benefits of green building, properly communicate the value of green buildings to its clients and stakeholders, as well as ascertain the actual cost and benefits of going green, Alpha Mead has put EDGE, a green building certification standard developed by IFC, a member of the World Bank Group, at the core of its green residence portfolio. EDGE helps portfolio owners to assess and certify all their buildings in a cost- and resource-effective manner. To receive EDGE Certification, a building must reach a minimum of 20 percent energy, water and embodied construction materials efficiency. This is done through the free EDGE App, which allows developers to map out different scenarios for the transition to resource efficiency for their building. EDGE allows developers to prepare a roadmap with efficiency measures they need to take and an initial assessment of the incremental cost and return on investment for each measure to reach resource efficiency. EDGE certification has proven helpful for developers looking to access finance. It allows them to aggregate their assets and look at a sustainable portfolio investment strategy. As more investors look at green-certified real estate to channel green finance and support the transition to a net-zero economy, EDGE certification will continue to grow for green buildings. Before now, investors interested in investing in green building struggled to identify projects and understand their green credentials. EDGE has changed the market landscape by presenting the data to investors in a format that they can understand – with quantifiable data - the environmental impact of their investments. This includes percentage improvements over a local baseline and carbon emissions savings. Alpha Mead designed and delivered the Lekki Pearl Estate with remarkably advanced resource efficiencies using the

EDGE certification system. The residences record 40 percent energy savings owing to use of features such as reduced windowto-wall ratio, ceiling fans, energy-saving lighting and 30 percent reduced water consumption through use of dual-flush water closets, low-flow showerheads and faucets for kitchen sinks and washbasins. They also incorporate in-situ reinforced concrete slabs for the floor, aluminum sheets on timber rafters for roof construction and in-situ reinforced internal and external walls. This enabled them to achieve EDGE Advanced Certification, the first of such in Nigeria. Despite the premium prices for its residences, occupants are happy to live there because they enjoy lower utility bills and the comfort that green solutions make it all worth it. Alpha Mead Development Company is a subsidiary of a conglomerate, Alpha Mead Group, with several different business portfolios beyond the real estate infrastructure development arm that oversees the Lekki Pearl Estate. These include facilities management, healthcare management services and property management. At the top of Alpha Mead Group is Femi Akintunde, the Group Managing Director. An accomplished engineer and business management professional with a strong entrepreneurial drive, Femi understands the strategic value an EDGE Certified residential portfolio offers the company's owners and clients. "We pride ourselves in delivering high-quality professional services while ensuring minimum total life cycle cost of the asset to the owner. Green building is not just fashionable; it is good business,” says Akintunde. “Since we learned about EDGE, we see it as a compass to excellence for all our projects. When we ventured into real estate development, we wanted to create functional, safe, secure, and comfortable communities for our customers without destroying the environment. We will always put the environment and sustainability on an equal pedestal as profit.” says Alpha Mead’s Group Managing Director, Femi Akintunde. The Managing Director/Chief Executive Officer of Alpha Mead Development Company, the real estate portfolio of the group, Mrs. Wale Odufalu shares in the

When we ventured into real estate development, we wanted to create functional, safe, secure, and comfortable communities for our customers without destroying the environment. We will always put the environment and sustainability on an equal pedestal as proﬁt

company’s vision, aptly captured by Femi Akintunde. For her, EDGE helps them to optimise housing design, quantify utility savings as a critical marketing tool for the Lekki Pearl estate. "We are creating a more sustainable living environment for families,” Odufalu says. She added: “We let our customers know that the cost of repair over the project's lifecycle is significantly lower. The house costs 25 per cent less in terms of maintenance, putting money right back into their pockets. In terms of our material standards, we are 39 per cent above the bar, in terms of our water usage, we are 22 per cent above the bar, in terms of energy efficiency use, we are 10 per cent above the standards, that means we are creating a more sustainable environment for families. “We use multi-layer pipes, which means no leakages, flat rooftops to carry solar panels that would save energy. Our houses are designed to save money from the get-go. That's the whole idea of Lekki Pearl Estate.” Since Alpha Mead commissioned the Lekki Pearl Estate almost two years ago, it has received a speedy offtake due to an innovative marketing campaign tied to its resource efficiencies and utility savings. Though priced at a premium, the estate has recorded a 100 per cent per cent offtake with the phase two subscription getting to over 30 per cent in the past six months. Tenants have reported experiencing good satisfaction levels with the spacious living spaces, good ventilation, and a cozy natural environment. Happy Tenants Victor Uduak is a resident and owner of one of the 4-bedroom terraces at Lekki Pearl. He considers his investment at the estate as one of the best decisions of his life. He has seen a significant drop in utility costs as a result of the energy efficiencies of his home. "Investing in Lekki Pearl is one of the best decisions for myself. Our monthly power token of NGN30,000 in our former apartment has now dropped to between NGN18,000 and N22,000, and the spacious rooms give the kids more room to play.” Another resident, Chioma Eziokwu, an international worker, who owns a 3-bedroom apartment at the estate says she living at Lekki Pearl has made it easier for her to adjust to the Covid-19 imposed remote working structure. She enjoys consistent solar power and spends a lot less on electricity than she did at her former place of residence. “The pandemic disrupted our lives like never before and as an international tech worker, I have had to make some adjustments with the way I operate. Full remote working has been embraced and the fact that I stay home all day I get to set up a full home office and spend more on power. Fortunately, the power bill has been significantly less than that of my colleagues.” For Adekunle Adelakun, an owner of a 4-bedroom semi-detached unit at Lekki Pearl said: “Having a family of five automatically means that we consume a lot of water. However, our experience has been surprisingly different at Lekki Pearl. We moved in as soon as the estate was commissioned and I can count on one hand, the number of times we have been out of water.” An Exemplary Approach Faster offtake and happy tenant experiences such as those from Victor and Adekunle validate Alpha Mead's conviction that building green and making a profit are not mutually exclusive. Innovative property developers that care for the environment can achieve both goals with the right tools such as EDGE. With a vast residential housing deficit in Africa and Nigeria, a fast-rising middle class with an eye for luxury and quality living, Alpha Mead's drive to build green and leverage the efficiencies that EDGE is profitable and environmentally responsible. Indeed, it is the way to go for African developers as they partner government to tackle the continent's housing crisis. This innovative approach will help unlock needed capital from international finance institutions to help fix the problem while re-imagining the future of Nigeria's real estate along a sustainable path. -Chieshe is a housing policy and green buildings analyst based in Abuja wrote in through mchieshe@gmail.com

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T H I S D AY • TUESDAY, NOVEMBER 23, 2021

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PROPERTY & ENVIRONMENT How Quality Construction Can Sustain Confidence in Nigeria’s Building Sector

nvestors in the building and construction industry in Nigeria have, over the years, put their money on various projects with good returns, but occasional fatalities at some sites are beginning to shake their confidence. However, professionals in the sector believe investor-confidence could be sustained through quality construction. Amid daunting challenges, the industry is doing well in terms of growth. GDP figures from the National Bureau of Statistics (NBS) shows the industry grew by 4 per cent in the second quarter of 2021 with a projected 2.8 per cent annual growth over the next four years (2022-2025). However, in the last five years (2016-2021), the same industry has witnessed building failures that beg the question as to what quality of construction goes into some of the ‘beautiful’ structures that adorn the landscape of Nigerian cities. The collapse of Lekki Gardens 7-floor building in March 2016 which claimed about 34 lives, the November 1, 2021 collapse of a 21-storey building in Ikoyi, Lagos that killed about 45 people, including the developer, and many others before this are major sore points in the industry. These incidents immediately call to mind the Biblical parable of the Wheats and the Tares growing together in the same Vineyard but planted by different sowers with differing mindset. In many ways, these incidents have badly bruised public confidence in an industry that, arguably, has great future. “No doubt, these sad and avoidable incidents can discourage investment in property, especially luxury high-rise properties. They reduce the confidence of institutional and foreign investors in the luxury high-rise property market,” a building professional who did not want to be named, confirmed. Dotun Bamgbola, former chairman, Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos State Branch, however differs, saying that these incidents, as unfortunate as they are, might not discourage investment in the luxury high-rise property market. “I don’t think people will be so discouraged once the competence and capacity of the contractors of such buildings are known. Without mentioning names, there are some contractors who have both foreign and local track records for excellent delivery,” he said. Evidently, the building industry in Nigeria has seen great architecture crystalised in beautiful and solid brick and mortar. Contrary to what has happened, in this same country are such great structures as the NET Building, Union Bank Tower on Lagos Island and the Cocoa Building in Ibadan which have been standing for decades. Similarly, there are new generation structures built to international standard that stand out to the credit of the industry, the admiration of the public and the joy of their developers. These include The Oceanna Cerulean, a project of one of the subsidiaries of Palton Morgan, 4Bourdillon by Elalan, Standard Chartered Bank Towers; the Eko Towers, The Wings Towers, Dangote new Head Office, etc. These are great testimonies to quality construction where the developers and the builders, including the project teams, have not compromised on standard practice. “Quality construction demands that any building should be given the right and adequate team. Construction is not oneman-show, but team work. Human resources should be enough for the project. There should be adequate checking and control on the structure and the finishing,” said Arkan Aljbaie, General Manager, Construction at BCL. Aljbae noted that the most important thing to ensure the stability of any building is to follow the design and the specification 100 per cent, insisting that building failure could occur anywhere in the world including America, Asia or Europe where this is ignored. “Building collapse happens everywhere;

Solid foundation holds a building in place

it is not only in Nigeria that it happens and construction must not stop. That means people will have to put more resources in their project by engaging the right contractors. Consideration should not be just on the costs alone. Some developers are looking at the cost and are therefore looking for who gives them the lowest cost. Beyond the cost, consideration should also be given to knowledge, experience and team work,” he advised. Aliyu Suleiman, Resident Site Manager at Trevi Foundations, shares this view, adding however that quality construction of any building, be it low or high-rise, starts from the foundation. “The kind of structure you want to build will determine the kind of foundation you should have. Once your foundation is wrong, the whole building is wrong. And it is not just about the nature of your foundation, who does the foundation is also very important,” Suleiman noted. Trevi, according to him, is number one in piling and has its signature in many high-rise buildings in Lagos, especially in Ikoyi and Victoria Island. The projects are too many for mention but notable to mention is The Oceanna Cerulean and most recently, piling project for Paramount Twin Towers, a project of Palton Morgan. He believes that there are many local construction firms that are also involved in construction like Trevi, but they have their limitations. “The local companies need to invest in their resources, especially their human and material resources. “If a company has good human resources but lacks the necessary equipment, it will still go back to the same thing. There should be good equipment and good skilled professionals with experience working together. There

should also be adequate funding,” he said, noting that the local firms lack most of these things. It is instructive to point out that the building and construction industry in Nigeria is not in lack of good and reputable companies like Trevi who have stamp of quality and integrity on the work they do. These are mainly multi-national foreign firms and they include Julius Berger, Cappa D Alberto, Lambert, Trevi Foundation, BCL among others. Reputable Nigerian developers, whose developments occupy prime locations in Nigeria’s big cities of Lagos, Abuja and Port Harcourt, don’t lose sight of these multi-national firms in choosing their contractors and other project partners. At the forefront of these developers is Palton Morgan Holdings, the parent company of Grenadines Homes which, by no accident whatsoever, has become a byword for quality and luxury buildings. As a matter of corporate policy and due consideration for quality and safety of investment, Palton Morgan goes for the very best of contractors while assembling project partners for its developments strategically located in Ikoyi and Victoria Island in Lagos, and Maitama in Abuja. Currently, the company is working with design consultants like ECAD and HOK Architects, a global name in the world of architecture. It is also working with Lambert, Trevi Foundation, BCL, APD, MO & A and W Hospitality Group to deliver its promised products. These contractors and consultants have solid track record of delivering the best quality real estate products in Africa and beyond. “For almost all our piling works on all our projects, we use Trevi Foundations. Presently, we are working with Cappa D Alberto for structures of The Oceanna

Once your foundation is wrong, the whole building is wrong. And it is not just about the nature of your foundation, who does the foundation is also very important

Cerulean at Oniru in Victoria Island; BCL is being used for the construction of Skyvilla and Claren Villas, both in Ikoyi,” said Deolu Okesola, the company’s Head, Project & Development. The choices the company makes is not for fancy or aimed to impress. Instead, they are in line with its mission in the Nigerian real estate space and that, according to Okesola, is to lead the real estate sector in Africa with revolutionary ideas and strategies that will fuel great innovations within the Nigerian property market. Part of this mission too is to build sophisticated masterpieces and create new standards for luxury living. The company is overly committed to delivering quality and this commitment is not lost on investors who have recognised that Palton Morgan, as a developer, focuses on quality and on-time delivery. The Oceanna, the company’s flagship development, stands tall as a testimony of that commitment to quality and luxury architecture. Though Covid-19 affected its early delivery, Palton Morgan did not just fold its arms and watch. It used this time as an opportunity to improve the overlook of the project and upgraded the facilities and finishing of the Cerulean Tower. “The ultimate objective of Palton Morgan is to give the best quality in town. This project is now moving with great speed and the top international contractors like Cappa D Alberto – the Italian contractors, Alico from UAE, and Lambert from Canada, are working on this Project,” Okesola assured. In an earlier interview, Nidal Turjman, Palton Morgan’s Group Chief Operating Officer/Executive Director, described The Oceanna as a “Great Architecture,” pointing out that with its architecture, the company has been able to change the narrative on Nigeria’s luxury real estate market. “Now, when you come into the market, you see good architecture; people are redefining the skyline with the kind of development we see,” he noted. The company’s latest development, known as Paramount Twin Towers, follows from the Palton Morgan tradition of quality and luxury. Okesola says the project is among the most desired sophisticated projects in the Nigerian luxury real estate segment, assuring that, when complete, it will be a significant part of their customers’ success stories.

T H I S D AY ˾ TUESDAY, NOVEMBER 23, 2021

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

N O V E M B E R

S & P INDEX

2 2 , 2 0 2 1

S & P INDEX

EXCHANGE RATE

OBB

9.00%

CALL

INDEX LEVEL

564.02%

1/4 TO DATE

5.82%

N413.03/ 1 US DOLLAR*

OVERNIGHT

10.75%

1-MONTH

1-DAY

–0.17%

YEAR TO DATE

– 15.85%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.19%

West Africa’s October Crude Exports Down 10% as Nigeria’s Output Continues Slump

Emmanuel Addeh in Abuja Crude oil seaborne exports from West Africa slumped below 3.5 million barrels per day in October, down from 3.84 million bpd in September as the continent’s major producer, Nigeria, struggled to increase its production and exports, hampered primarily by local disruptions. Documents show that the country witnessed the sharpest crude oil production decline among all members of the Organisation of

Petroleum Exporting Countries (OPEC) in October 2021. The fall observed in Nigeria’s crude oil output, estimated to have surpassed 70,000 bpd, followed a force majeure declared by Shell, which halted loadings of Bonny Light crude after a pipeline shut down. Nigeria’s unstable production could become one of the biggest obstacles for OPEC+ efforts to increase supply by the end of this year. The country’s total production capacity stands above 2.2 million bpd of crude

and condensate, with a plan to reach 1.75 million b/d by early 2022, from an average of around 1.62 million b/d in the first half of 2021. Last week the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, stated that the country was doing everything possible to make sure it returns to about 1.7 million to 1.8 million bpd, which the OPEC allocation is likely to hit by the year-end. The NNPC boss had consistently

attributed the inability of the country to comply with the OPEC production quota on the shutting down of oil wells last year at the peak of the mandatory cuts imposed by the oil producers’ cartel due to the Covid-19 pandemic. Nigeria, which produces sweet crude oil, mostly with light to medium grades, is expected to face difficulties in maintaining its production levels in the coming years given the mature profile of several fields. Grades such as Bonga,

Egina, and Qua Iboe will face the most pressure as the government struggles to attract new investment in the upstream. New field developments are expected to only add up to 35,000 bpd in 2022, while fields currently in the ramp-up phase could add another 70,000 bpd, according to projections by IHS Markit, a market intelligence firm. Nigeria’s government introduced the Petroleum Industry Act (PIA), in August, targeting to drive an increase

of its crude oil output close to 4 million b/d. However, a potential increase in the country’s crude oil production in coming years should not necessarily translate into more exports, as Nigeria targets to refine more locally to supply increasing domestic demand for refined products. The 650,000 bpd Dangote refinery is on track to be operational from early 2022, despite some delays Continued on page 26

Developing Countries Account for 80% of World’s Aquaculture Production, Says FAO Gilbert Ekugbe A recent Food and Agricultural Organisation (FAO) world fish study has revealed that about 80 per cent of the world’s aquaculture production comes from developing countries, noting that the numbers of artisanal farmers are higher than those employed at farm level in medium- and large-scale aquaculture.

The Director-General of the FAO, Mr. Qu Dongyu, said at the launch of the United Nations International Year of Artisanal Fisheries and Aquaculture 2022 (IYAFA 2022), that this year’s vision is aligned with FAO’s “4 Betters: better production, better nutrition, a better environment, and a better life for all – leaving no one behind.” He said The YAAFA would

also contribute towards reaching several of the objectives under the United Nations 2030 Agenda and the achievement of the Sustainable Development Goals. The Minister of Production, Peru, Jorge Luis Prado, said that he hoped that IYAFA 2022 would strengthen artisanal fishing activity, ensure the sustainability in the use of resources, and accelerate efforts to achieve the

FOOD NAME OF COMMODITY

MAIZE

LOCATION

PRICE

100KG JIGAWA

N9000

100KG ENUGU

N24000

100KG DELTA

N15000

100KG

ABIA

N14000

50KG

LAGOS

N13500

SIZE

elimination of poverty in Peru and worldwide. The Parliamentary State Secretary of the German Federal Ministry for Economic Cooperation and Development, Ms. Maria Flachsbarth, sent a video message underlining the importance of the world’s seas and oceans as a source of food and employment. She explained how the German

COMMODITIES

PRICE

government has invested 130 million Euro for resource management through initiatives combating illegal, unreported, unregulated fishing, support of various marine management plans and for strengthening local value chains. During the virtual ceremony, the FAO Director-General presented the Margarita Lizarraga Medal to Ms. Margaret Nakato of the

T O D AY

Katosi Women Development Trust in Uganda. He praised Nakato for her work in organising women in fishing communities to work together, empowering them with knowledge and skills, access to training, technology and markets. The award is bestowed to a person Continued on page 26

TUESDAY, NOVEMBER 23, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS FOOD

NAME OF COMMODITY

PALM OIL

SIZE

STATE

PRICE

25CL LAGOS N20,000-N25000 25CL

NAME OF COMMODITY

RICE

N21,000-24,000

COMMODITIES SIZE

25CL

IMO

N21,000–N24,500

25CL

EDO

N17,000–N20,000

PRICE

100KG ABUJA N23,000–N25,000 50KG 50KG

25CL IBADAN N18,000-N22,000

STATE

OYO

N22,000-N25,000

PLATEAU N23,500-N25,000 (JOS)

50KG KWARA N24,000–N27,000 50KG

LAGOS N23,000–N26,500

50KG RIVERS N23,000–N26,500

25CL ABUJA

N19500- N25000

PRICE

NAME OF COMMODITY

COCOA

T O D AY SIZE

EDO

N17,000–N20,000

PRICE

N740,000

1 TON ONDO – N760,000 1 TON OSUN 1 TON

EDO

NAME OF COMMODITY

SIZE

STATE

PRICE

ONIONS

100KG

IBADAN

N25,000

100KG

KANO

N10,000

100KG

BENUE

N27,000

100KG GOMBE

N12,000

100KG DELTA

N21,000

100KG LAGOS

N25,000

100KG ENUGU

N15,000

100KG

N29,000

N730,000 – N750,000 N720,000 – N740,000

CROSS N700,000 1 TON RIVER – N720,000

50KG SOKOTO N11,500–N13,000 50KG

STATE

1 TON

AKURE SOUTH, ONDO

N730,000 — N755,000

ABIA

Agric Minister Seeks AfDB’s Support to Recapitalise Bank of Agriculture Gilbert Ekugbe The Minister of Agriculture and Rural Development, Mr. Mohammad Abubakar, has called on the African Development Bank (AfDB) to support the recapitalisation of Nigeria’s Bank of Agriculture (BOA). According to a statement on the ministry’s website, both parties have agreed to set up a task force team to develop a plan for accelerated implementation within the next 60 days during a delegation he led to the president, AFDB’s office in Abidjan. Abubakar said his consultative mission to Abidjan was at the instruction of President Buhari. “Our mission is to examine ways Nigeria could enhance food production, lower food prices, and create wealth,” the minister said. Abubakar welcomed the bank’s proposed strategy to support Nigeria’s food production and described it as a landmark one that would spur Nigeria’s food supply production. “It will reverse the ugly trend of a sharp increase in prices of food in the country. I am pleased with the bank’s strategy to facilitate the production of nine million metric tonnes of food in Nigeria and to support us in raising self-sufficiency. The bank’s Special Agro-Processing Zones initiative is a laudable one and Nigeria is grateful,” she said. Abubakar thanked the Bank for its support and said the meeting gave him reassurances of what Nigeria can achieve with the bank’s support in the farming seasons ahead. Earlier, the President of AfDB, Dr. Akinwumi Adesina, said that the bank’s strategic support for Nigeria’s food production would be hinged on five factors:

support, scale, systemic, speed, and sustainability. He added, “I want to assure President Buhari that the African Development Bank will provide his government with very strong support to tackle the country’s food security challenges.” Adesina urged the Nigerian Agric Minister to concentrate

on building the correct team and tactics to optimise the country’s farming seasons, saying that dramatically increased food output will result in lower food prices, which will in turn lower inflation rates. Citing successes in Sudan, Adesina explained how the

AfDB supported the country with 65,000 metric tonnes of heat-tolerant wheat varieties, cultivated on 317,000 hectares. In response to Bank successes in Sudan and Ethiopia, Abubakar said: “This gives me an additional measure of confidence. If you can do it in Sudan, you can equally

do it in Nigeria. Not just in wheat, but also rice, maize, and soybeans.” Adesina said: “The task, responsibility, and challenge of feeding Nigeria rest on your shoulders. You will receive maximum support from me, and the African Development Bank for the responsibility that

President Buhari has given you. You will not be alone.” He added: “The bank stands ready to fully support and help Nigeria in the next farming seasons. So, we must make sure things turn around. The president must succeed, and Nigeria must succeed. Agriculture must succeed.”

Sylva: Nigeria’s Transition to Clean Energy Sources on Course Emmanuel Addeh in Abuja Minister of State for Petroleum Resources, Mr. Timipre Sylva, has reaffirmed Nigeria’s commitment to the transition to cleaner energy in line with the global push for renewable sources. Speaking during the 6th National Council on Hydrocarbons in Port Harcourt, Rivers State, Sylva who was represented at the event by the Permanent Secretary, Ministry of Petroleum Resources,

Dr. Nasir Gwarzo, stated that gas will play a major role in the process. “In addition to producing liquid hydrocarbons, we are using our abundant gas resources as a bridge between the fossil of today and the renewable energy of tomorrow,” he maintained. On the Petroleum Industry Act (PIA), the minister said the implementation remained the vehicle through which value will be unlocked in the Nigerian

economy, saying that government had developed an implementation framework, chaired by him. Acknowledging the rising price of gas, which has become unaffordable to many people, the minister stated that Nigeria must find a way to address the issues and others that were raised during the three-day event. He urged the council to work on innovative ideas and make sound resolutions that will make Nigeria fully realise its potential

in exploration, production and utilisation of its natural resources. Speaking for himself, Gwarzo commended the efforts of the experts and other stakeholders who critically examined and discussed the memoranda submitted to the technical session of the 6thhydrocarbons conference. He stated that the passage and signing into Law of the PIA, 2021 had brought a new era for the petroleum industry in Nigeria.

In a separate session, the permanent secretary who emphasised the centrality of the NCH stated that it was the most important layer of authority that collates and considers policies to be rolled out in the sector. Representative of the Governor of Rivers State, Nyesom Wike, Dr. Peter Medee who is also the state’s Commissioner for Energy and Natural Resources, thanked the ministry for awarding the hosting right to the state.

‘Resuscitation of National Food Reserve Agency will Reinvigorate Food Systems’ Gilbert Ekugbe The All Farmers Association of Nigeria (AFAN) has extolled the President’s directive to resuscitate the National Food Reserve Agency (NFRA) that would reinvigorate the food system and accelerate the attainment of food security in Nigeria. In a statement, AFAN’s National President, Mr. Kabir Ibrahim, explained that the obvious deliverables in the

resuscitation of NFRA would also resuscitate the Good Manufacturing Practice (GMP), which would enhance agribusiness especially against the backdrop of AfCFTA that would bring about a sustainable foreign exchange income to Nigeria and Nigerian farmers going forward. He said the need for the attainment of food sufficiency by the same token in all African countries, in anticipation of the exponential rise in Africa’s popu-

lation that would see Nigeria as the third most populous country in the world with a population of 400,000,000 by 2050, will make the quest for food almost existential for Nigeria and by implication all of Africa as Nigeria is the giant of Africa. According to him, in 2008, NFRA was created as a parastatal of the Federal Ministry of Agriculture and Rural Development (FMARD) with the mandate to drive the National Food Security

Programme in Nigeria upon the recommendation of CADP-NEPAD (Commercial Agricultural Development Project - New Partnership for Africa’s Development) which came about as a result of the buy-in of African Heads of States in 2001 in the Moputo Declaration, specifically, in compliance with four pillars: Production, Processing, Storage and Marketing. He stressed that vision of NFRA was to ensure sustainable access,

availability and affordability of quality food to all Nigerians and for Nigeria to become a significant net provider of food to the global community. He added that its mission in the short term was to significantly improve Nigeria’s Agricultural productivity and expand and improve large scale production, increase storage/processing capacity as well as required infrastructure to achieve food stability in the medium term.

DEVELOPING COUNTRIES ACCOUNT FOR 80% OF WORLD’S AQUACULTURE PRODUCTION, SAYS FAO or organisation that has served with distinction in the application of the FAO Code of Conduct for Responsible Fisheries. Thanking the Director-General and FAO, Nakato said the award

would inspire the women she works with, to continue to support food security and the eradication of poverty. The ceremony also included testimonies relating to the in-

novative capacity of small-scale fisheries and aquaculture in the context of sustainable development. Director of the FAO Fisheries and Aquaculture Division, Mr.

Manuel Barange, closed proceedings with a call for global action to help make IYAFA a significant year-long undertaking. “The Year provides a unique opportunity to elevate the profile of small-scale

artisanal fisheries and aquaculture and to lay the ground for securing a future in which these sectors can realise their full potential in contributing to sustainable development” he said.

WEST AFRICA’S OCTOBER CRUDE EXPORTS DOWN 10% AS NIGERIA’S OUTPUT CONTINUES SLUMP 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)

suffered due to the coronavirus pandemic. When completed, it will be Africa’s largest refinery. State-owned NNPC plans to supply 300,000 bpd of crude to the refinery. The producer has been in talks to acquire a 20 per cent stake in the project, located near Lagos. But the country has been importing more than 1 million metric tons of petrol a month, as all its refineries, with a combined capacity of 445,000 bpd, remain shut down. The Dangote refinery’s slate will include at least three Nigerian crude grades - Escravos, Bonny Light and Forcados, the IHS Markit document stated. Shipments of Forcados fell to 172,000 bpd in October, according to commodities at Sea, from 229,000 bpd in September. This is one of Nigeria’s two largest grades exported, with average loadings exceeding

210,000 bpd in H1 2021. This gasoil-rich sweet crude blend has a full capacity near 250,000 bpd, heavily relying on oil pipelines, which have suffered multiple coordinated attacks by militants in the restive Niger Delta, since early 2021. Among other key crude grades of Nigeria, October’s exports of Egina reached 161,000 bpd as against 167,000 bpd in September while Escravos and Qua Iboe stood at 139,000 bpd and 151,000 bpd respectively, down 13 per cent and 20 per cent over the month. Bonny Light loadings fell to 61,000 bpd in October as against 74againspd in September, while a year ago, activity typically surpassed 160,000 bpd. In addition, Nigerian loadings heading for Mediterranean importers fell marginally to 454,000 bpd in August, from 458,000 bpd in

September while flows shipped to Spain strengthened to 260,000 bpd in October, from 180,000 bpd in September. Furthermore, flows to North-west Europe fell sharply, to 254,000 bpd in October, compared with 388,000 bpd in September as loadings heading for the Netherlands collapsed to levels near 96,000 bpd in October, compared to 162,000 bpd in September, according to the IHS Markit report. It stated that shipments from Nigeria to India recovered in October, standing at 283,000 bpd, versus 200,000 b/d in September with most flows referring to grades such as Agbami, Akpo, Bonny Light and Bonga. But Ghana’s crude oil exports stood at 123,000 bpd in October, according to Commodities at Sea. This is 24 per cent down from September’s shipments of 161,000 bpd.

Activity typically averages near 150,000 bpd. Crude loadings of the West African country have been scheduled at 153,000 bpd in December, marginally down from 158,000 bpd planned for November. Exports of Jubilee should rise to 92,000 bpd in December, from 63,000 bpd in November, according to loading schedules as activities stood at 61,000 bpd in October, according to Commodities at Sea, down from 97,000 bpd in September. In the western coast of Southern Africa, Angola’s exports in August inched down 32,000 bpd to 1.19 million bpd, standing 2.6 per cent lower than a year ago. Flows to China declined to 832,000 bpd in October, versus 928,000 bpd in September. China’s crude imports from

Angola and West Africa overall fell to 1.26 million bpd in October, from 1.37 million bpd in September, as competition from Middle Eastern suppliers increases. Shipments to India collapsed to just 31,000 bpd in October, from 128,000 bpd in September. Like Nigeria, Angola’s oil sector has been facing structural challenges in the last five years, especially with lack of new investments in exploration and a failure to maintain production levels at mature oil fields. In addition, involuntary outages across smaller producers in West Africa pushed the region’s supplies further down. Congo, Cameroon and DR Congo were the only exporters in the region to report some small gains in October 2021, adding 173,000 bpd in total over month.

T H I S D AY ˾ TUESDAY, NOVEMBER 23, 2021

BUSINESSWORLD

OIL AND GAS

Energy Transition: What Impact Can PIA Make? Nigeria’s Petroleum Industry Act (PIA) is coming into force after 20 years of stalemate and at a time the energy transition has become a dominant topic in the oil and gas ecosystem. Peter Uzoho examines what impact the new Act may have on the industry and the larger economy with growing rejection of fossil fuels by developed nations

he PIA, now in the process of implementation or operationalisation, became an accepted legal document for the Nigerian oil and gas industry after its signing on August 16, 2021 by President Muhammadu Buhari barely one month after its passage by the National Assembly. The Act is coming into effect after about 20 years of dilly-dallying due to the politics of interest that was played by several forces and stakeholders, which characterised its enactment process. Overall, the PIA is summed up as a piece of legislation that seeks to govern the operations of the Nigerian oil and gas industry, from the administration and governance to fiscals, to host community issues, and other relevant provisions. The Act, which has been described as a watershed, is expected to reposition the oil and gas industry in a way that entrenches sanity, attracts investments into the sector, increases exploration and production activities, and boost hydrocarbon resources utilisation. Nigeria also expects through the Act to increase Foreign Direct Investment (FDIs) and earnings from oil and gas, create hundreds of thousands if not millions of jobs, and significantly raise the contributions of the oil and gas sector to the economy. Nevertheless, Nigeria wants to diversify its economy away from oil and gas by leveraging the earnings from the sector to achieve that. The federal government has insisted that it wants to industrialise and develop the nation and pull the country out of under-development and poverty by using the nation’s abundant oil and gas resources, especially gas, as an enabler. However, with the ensuing war against fossil fuels by climate change movements spearheaded by the developed and industrialised nations who control the world with their wealth, technology and power, all these lofty expectations from the PIA now need more than just talk shows to achieve. The challenge for Nigeria in this energy transition moment is indeed enormous and daunting.

WANING INVESTMENT

The Nigeria oil and gas industry is now facing one of its worst challenges as stakeholders from the developed and industrialised nations are shifting their financial assistance and commitments from fossil fuels towards renewable energy projects, with developing countries being their target beneficiaries. At the just ended 26th United Nations Convention on Climate Change (COP26) in Glasgow, Scotland, they agreed to commit series of funds, including $100 billion to support climate change projects in developing countries, indicating their rejection of fossil fuels. Experts believe the withdrawal of funding for fossil fuels projects will have dire consequences for Nigeria considering the inability of oil and gas operators in the country to access the kind of fund they need to undertake critical exploration and production projects. Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote warned last week that the current pressure by Europe and industrialised nations for banks to stop financing oil and gas projects may soon get to a point where world technology companies will be pressured

to halt the development of tools used for oil and gas exploration and exploitation. He said European countries were at the forefront of the push for energy transition because the level of their hydrocarbon resources had plummeted and they are now looking for renewables as the alternative and trying to force every other country to join the fray. In its Net Zero 2050 Report, the International Energy Agency (IEA) had called for an immediate halt of fossil fuels supply projects. Some of the major European banks have heeded the call by announcing a halt of financing of hydrocarbon-related projects as part of their support for de-carbonisation efforts. Wabote said these pronouncements have direct and indirect implications on the global energy ecosystem, as nations, businesses, and individuals adjust to the shifting energy landscape. “Why am I saying this? Now they have pressured the banks to stop funding hydrocarbon projects. Very soon, they will pressure all the technology companies to stop developing tools required for the exploration and exploitation of hydrocarbon if Africa doesn’t wake up, “he said. He maintained that the pullback of investment on hydrocarbon development project was a challenge for oil producing countries such as Nigeria. Managing Director, Newcross Petroleum Limited, Mr Victor Sodje, said the next decade of oil and gas business was going to be very challenging for those who had not positioned themselves strategically. Sodje said the challenges range from funding limitations by most international banks; geo-political challenges which impact “fiscalised” volumes and the anticipated limited non-African demand for Nigeria’s crude oil. “However, with over 50 per cent of our national budget being funded by fossil fuel, we as a country will face significant challenges and deficits if we don’t all take the challenge as a holistic national call for service to improve the nation’s revenue resource,” he said. Sodje said the declaration on the “Decade of Gas’’ was an opportunity to optimise the nation’s gas derivatives and deepen its market participation via infrastructure development and diversify into petrochemical products. He added that the policy would increase Liquefied Petroleum Gas (LPG) penetration enhanced by the elimination of gas flaring.

IOCs PLAN EXIT

Another challenge before the PIA is the looming exit of the international oil companies (IOCs), the likes of Shell, TotalEnergies, Eni/Agip, Chevron, and ExxonMobil. Although, not all of them have openly indicated their plan to divest out of the country, they have at many times raised concerns on the challenges they face in their course of operations in the country owing to the unfavourable investment climate. Specifically, the oil majors, which control the

largest chunk of the nation’s oil and gas assets, have been complaining of high rate of crude theft, vandalism and sabotage of their assets, multiple taxes and levies, as well as too many litigations against them. For instance, Shell is currently in discussion with the federal government to sell off its onshore and shallow water assets, saying it would no longer continue to suffer operational risks that are not caused by them. Some of them are now restructuring their investments and portfolios and aligning them to fit into the emerging energy mix dominated by more efficient and cleaner energy systems as in renewables. The divestment of the IOCs, according to the Managing Partner of ENR Advisory, Mr. Gbite Adeniji, will impact Nigeria significantly. Adeniji said: “Now, I’m clear that if our IOC partners exit, it will impact Nigeria significantly. One thing is clear. Our IOC partners are leaving the shore, onshore, and shallow water businesses. “Now, if they do leave, the question should be, where is the money going to come from to fund those assets. Does the NNPC have the money, no. the PIA says NNPC shall not have recourse to public funds. “The question is, how is the new NNPC going to be configured to attract money? Or, how are the new comers going to raise money? Who are the new comes by the way?” He said the current situation calls for urgent action, given that petroleum revenue is what sustains Nigeria and expressed worry about the transition, warning that it could lead to Nigeria having its huge hydrocarbon assets stranded. Nigeria, He said, needs to urgently de-risk the economy before 2035 when fossil fuel demand would drop by some percentage. Noting that the Nigerian political system is distracted, Adeniji stated that there is the possibility that Nigeria may not be able to urgently de-risk the sector or even the economy. He further warned that the failure of the government to de-risk the oil and gas sector and diversify the economy as urgently as the current situation demanded would plunge Nigeria into massive economic crisis. “We will not have enough money to pay our debt obligations. We will not even have enough revenues to make basic governance in the country. Poverty will magnify in this country and there will be social unrest. “This is the doomsday scenario and its not an impossible scenario. So, that’s what we really need to be conscious about now,” he said

PROVIDING INVESTMENT INCENTIVES

However, to attract the badly needed investments into the Nigerian oil and gas industry at this time of anti-fossil fuels pressure, Partner, Tax, Ernst & Young, Mr. Temitope Samagbeyi, harped on the need for government to consider introducing tax incentives for the players.

“Are the tax incentives enough to attract investments foreign direct investment? There is a need for the re-introduction of incentives and the removal of disincentives in the Nigerian oil and gas industry. “To attract investments into the sector, government must look at introducing tax incentives such as tax deferrals, reduced tax, privilege zones, exemptions, allowances, credits, duty exemptions, etc,” Samagbeyi said. He said that rather than relax and continue to dwell in the euphoria of having the PIA in place, all stakeholders must now rise and collaborate to find ways to harness the benefits of the Act. He added that the lack of such law to reshape the sector for many years, had led to massive drop in investments and capital flight. Samagbeyi argued that only about 4 per cent of the total investments that came into Africa’s oil and gas sector in the past decades came to Nigeria owing to the lack of clarity in the governance framework as well as unfavourable fiscal terms. “Nothing stops us from commanding well over 50 per cent. But because of policy summersaults and implementation that is not geared towards achieving the set goals have pushed all those investments away. “We need to ask questions as to the appropriateness or otherwise of the incentives that we have in our oil and gas sector,” Samagbeyi added.

DEREGULATION CHALLENGE

Deregulation whether in the area of petrol marketing and the upstream gas has been a major issue in the Nigerian oil and gas industry. Government spends huge amount of the tax payers money subsiding petrol imported into the country. Although, the PIA has provided for the deregulation of the downstream sector of the petroleum industry but the government has said deregulation will not take place until the second half of 2022 when Dangote refinery must have come on stream. Industry experts believe that government’s position will not help the industry and the economy especially now that fossil fuel is being challenged by energy transition. They said it would serve the country better if the government follows the prescription of the law and deregulate petrol marketing now. Managing Director of 11Plc (formerly Mobil) and immediate-past Chairman of Major Oil Marketers Association of Nigeria (MOMAN), Mr. Tunji Oyebanji, said Nigeria borrows to subsidise petrol, describing it as unsustainable. According to him: “There is stifled growth and unemployment with the enhancement of fraud and corruption in a situation where other players cannot be involved in the process of supply of major products but determined by few that can easily be compromised with pressure from unscrupulous operators within the system.” In addition, Oyebanji lamented the degradation of infrastructure in the industry, including decayed pipelines and dwindling industry expertise as companies are closed and a number of technical experts are reduced leading to poor quality of production services.

TUESDAY, NOVEMBER 23, 2021 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Seplat CEO: Nigeria Rightly Signing Up to Energy Transition In this interview, CEO, Seplat Energy Plc, Roger Brown, speaks on energy transition and the drive towards a low carbon future, why developing nations need to be allowed to create a ‘just transition,’ Seplat Energy investment in gas and other major issues, Eromosele Abiodun presents the excerpts You recently spoke at the Africa Oil Week 2021 where SEPLAT led the conversation around Energy Transition from the Nigerian perspective. Can you share with us how important you consider energy transition for the country? hank you. The world’s energy shows that the world’s investment is now driven by ESG, environmental, social, and governance. Also, look at the COP26 of the Paris Agreement; there is a heavy focus on the E-environment. The world is driving towards a low carbon future, and Nigeria signed up to the Paris Accord and has committed to a lower-carbon future. Nigeria, rightly so, and many emerging economies and consumers say it has to make sense to the emerging economies. And so, the world is not only one, that there is the developed world and what they do in terms of carbon, particularly China. The developing nations need to be allowed to create what we call a just transition. There has to be a transition. Nigeria is rightly signing up for that transition, but it must be on a just basis. Nigeria must be allowed to grow as a nation. We must balance the E (environment) and the S (social). I always give an example that if you’re sitting in the UK, it’s highly unlikely that you will be going into the woods in the forests to cut down trees to cook but turn on your gas or your electricity because that’s what you have. So from a social aspect, you see that what happens in the West is not the same as the case in the developing world. So have to address the E but must do so by addressing the S at the same time. We must do this by looking at all the stakeholders. For Seplat, it is looking at our communities, our governments, our employees and how we grow as a business, Hydrocarbons are a significant source of development income in communities. They rely heavily on it, and we have got to make sure that we address that. The way we see it is, gas is the perfect transition fuel. The government’s going through its decade of gas, rightly so. If you look at it, in reality, gas is just the transition fuel in the world. What makes up the majority of the UK grid today is gas. In Nigeria, 80 per cent of the energy usage in the country is biomass. Many people use charcoal or wood, which is one of the most significant energy sources in the country, creating deforestation. So if you bring in LPG, one of the areas Seplat Energy is looking at, LPG will then displace that need to use firewood and charcoal, which reduces deforestation, which has a huge benefit to the planet. When people say hydrocarbons are bad, actually hydrocarbons has a role to play in this transition. Let’s take a look at the rest of the energy used in the country. Let’s take a look at electricity today; the grid system in Nigeria is 12 megawatts of grid effect of three gigawatts is hydro, nine gigawatts is gas of that gas very little, probably about somewhere between a third to half of that is effective on a daily basis. And what happens today with power is of interest to everyone in Nigeria because we have diesel generators everywhere. And for the generators, we are importing diesel from overseas, in Europe and elsewhere in the world until the refineries work here, you’re importing diesel at an incredible cost. And there are carbon emissions from diesel generators that make up about 80 per cent of electricity in the country. Diesel generation is very high in CO2 emissions and greenhouse gas emissions, and there are health disadvantages to having generators everywhere. By bringing gas to the market and displacing the diesel generated power from diesel generators, we today, not tomorrow, but today we are reducing carbon. We are improving the health benefits today, and we’re laying the path of the future, which allows a bigger scale transition onto the gas, which is cleaner and more efficient. And that gas transition then allows us to do bigger scale renewable energy. So, Nigeria will address the world’s environmental problems, but it will do it in order. As a result, what we have done as a business is, we’ve laid out a three-pronged strategy. Our strategy is deliberately laid out. The first prong, the upstream oil and gas, really is about let’s be efficient, reduce the cost of extraction of oil and gas, and regenerate the profits we make from it into the communities and grow the communities. We have a number of our programmes we can talk more about. Let’s use that gas for the displacement of deforestation and everything else.

you are investing heavily into the fuel of the future which is gas. So how are you trying to plug into operations that would sustain gas feed into your future business and operations? That is a very good question. Yes, you need the Upstream feed. There are two prongs to what we are doing. One is what we call our own equity–gas business, and that with the government where we have our working interest and equity gas supply from the upstream; so you look at the ANOH gas plant, which we’re going to bring on stream middle of next year. We own a stake in OML 53, which is unitized with OML 21, a Shell-operated field. It’s one of the biggest onshore gas fields in the country. Now that gas will supply the ANOH gas plant for 20,30, 40 years, and maybe more. So that’s an equity gas feed, but of course, you have to keep investing and getting more and more upstream gas. We are drilling what we call non-associated gas wells. With that, we’re actually drilling more non-associated gas into our gas reserves. That’s one prong that we’re doing, and we will add more and more gas assets as we build our gas expansion. The other prong is what we call tolling to set up a gas plant facility with additional capacity in that gas plant, allowing other people from neighbouring fields to drill and then pipe that gas to our gas plant and then process gas for them. We either buy that gas from them as wet gas or charge them a tolling charge to process that. So it’s a two-pronged approach. And one thing about Nigeria is that Nigeria is a gas province, so there’s more gas here, more than oil. And I think everyone in the last 50, 60 years there has been a big focus on oil. So you’re going to have oil still, but you’re going to see a much bigger investment into gas.

Brown Pillar two is then the gas processing business and really, what we want to do is continue to increase that. We are probably the second biggest in the country at the minute. And when ANOH comes on stream, we’re going to be one of the biggest next to the government, the biggest gas processor in the country. So we want to do more gas processing business. We are looking to go down the gas value chain. What we want to do is to look at power gas to power opportunities. For us, we want to be a willing buyer and willing seller. It fits our model better. Also, do LPG, CNG - Compressed Natural Gas, LNG at some point. We want to be able to do that. It’s all part of our pillar Two energy business. And then, we move into our pillar three business, doing renewable energy on a bigger scale. And I think, in this country, that’s going to be Solar predominately. There will be some wind opportunities and other renewable opportunities, and geothermal potentially. But the reality, I think it’s going to be Solar. What we will like to be able to do is to look at a bigger scale solar. Solar can either be on a small scale with solar panels on the roof of a house, which is more retail opportunities. But what we want to do is bigger scale solar projects. For that bigger scale, you see all over the world, you have got a baseload of reliable energy, and it’s either going to be gas. In Germany, it’s coal, and in other countries, it’s nuclear. So we need a baseload to allow for a more extensive scale of renewable energy. For us, Nigeria, that baseload is gas. And so, there’s a lot of benefits that we can see today because of that gas strategy. So, what Nigeria must say to the world is that we have a vital role to play because we have the fastest-growing population in the world. And that population growth is going to be the third biggest population by 2050 in the world. So, Nigeria will deliver an energy transition that addresses carbon reduction but must focus on addressing the social aspect of a fast-growing population long side. That’s the message we’ve got to tell you. The transition is essential, but the social is much more critical as the people have

to eat. So in this instance, what do you suggest? So if you think about it, the world over, employment is crucial, particularly in fastgrowing populations. You know, if you want social rest or equality or whatever way you want to look at it, you’ve got to give people jobs, and you have to give the future. In Nigeria, it is critical. We need to find jobs for people; you need to provide them with education and health care; you need to give people a sense of well-being and future. If you can do that, you can then grow. We can’t try to do that on a big scale with expensive energy. For electricity price in Nigeria, we did a study recently. The diesel generators or PMS generators generated price in the country was somewhere between 50 cents to 60 cents kilowatts per hour compared to 18 cents in the UK. So we have incredibly expensive electricity energy in this country. For the on-grid gas prices today, the higher end of that is 10 cents kilowatts per hour. The off-grid gas prices are also high at roughly 30 cents kilowatts per hour. So how do we then give social development? How do we give people energy, power to create businesses, and education to develop people when it’s so expensive? We can’t do it. It’s almost impossible to do it without reducing the cost of energy. And that’s what we want to do, and that’s why we are developing the gas, and gas will boost that social development. Without that social development, it’s hard to stabilize a country and get people a future. Over time, you could get social unrest, particularly when you go to a growing population where the average female has five to six children. With that level of growth, it’s going to be very difficult without giving people social aspects of things. It is more important. I want to look at the sustainability of the entire business approach. You are moving slowly, gradually from full-time upstream operation to newer, cleaner energy to the future. And of course, the transition fuel is there, and you are gas-intensive in terms of investment. So I’m looking at the sustainability of the gas ﬁelds, and

Is there a plan to link this programme with the government’s ﬂare privatization programme, which provides an opportunity to harness gas from other people’s assets into the future? Are you working towards that? Are you trying to relate with the regulators to access gas that would otherwise have been wasted? Yes, there is a link there where people or other operators who do not have the capacity to build a gas plant but currently flaring can put their gas through our gas plants, which will take down the flares accordingly. That’s a direct link from us. We have a flare out programme ourselves. Today we have a planned program by 2024; we will be flared out in our operations. That’s six years in advance of what the government’s targets by 2030. So, the flaring is a very good link. I think, probably about if you look at the gas processing or gas in the country, half of it gets exported. I think something like 25 to 30 per cent is either flared or re-injected by other operators. So, that flare is an excellent way to capture the value and a way to take down emissions and obviously, you can process it through the gas plant. So, yes, there is a direct link. In the last number of years, we have said to the government that we’ve got spare capacity in our gas plants, we would like to have all the people processing through us, and the government is working through this, and that’s a good thing. More than 100 world leaders have promised to end and reverse deforestation by 2030, in the recent COP26 climate summit’s ﬁrst major deal. It has been interesting to hear you speak on the importance of the S in ESG, does your company align with the Environmental initiative on deforestation? Speak about deforestation and Seplat Tree for Life initiative in addition to the ‘S’ Thank you for raising that. We announced that at our brand event in Abuja. People call this initiative different names; some call it rewilding. Seplat Energy wants to do with this ‘Tree for Life’; it is a tree-planting initiative across Nigeria. It is not just in one area. And what we want to do is start to combat the effects of deforestation. There are benefits from it. Trees are CO2 sinks, so they absorb carbon. The two is, it gives employment to the areas, particularly in the rural areas with very little or a lot of poverty. It then creates jobs for people in those areas. It’s an initiative we’ve just launched and will provide much more defined information early next year. We’re looking to bring equity from us and others, then ramp it up. But, yes, it’s a perfect solution as part of the overall mix

T H I S D AY ˾ TUESDAY, NOVEMBER 23, 2021

BUSINESSWORLD

INTERVIEW

of carbon reduction. And so, yeah, it’s something that we are very passionate about in this business.

What’s the outlook for this year, with the demand in oil price increase? I think everyone’s got their own view here. If you talk to the market participants, the traders, the financers, the users of hydrocarbons, I’ve not heard one person say the oil price will fall. OPEC is having a big impact, at this level. it looks like it’s going to continue. It could come down a little bit. I think what worries us more than anything else is that you have to invest in this sector. So, if you are in the oil sector, you have to invest in mitigating the average 10 to 15 per cent decline in oil every year. And so, if you got 100 billion barrels, you get a 10 per cent decline, you lose some 10 million barrels a year. You’ve got to invest money to come back up and replace 10 million barrels. If the oil demand is growing, you can invest more. And we lost 2020. Very few people invested in 2020. You have the compounding effect. Seating at this end of it, you can see that if we don’t get back to investment back into the sector, you can see much, much higher oil prices as a result. That’s not so good for us as producers because it is good short term, but long term, it’s not. It’s not good for the consumer. And so, you really want oil to be a stabilized commodity. I think even on these levels. But I can see an element next year going up, not because I have a crystal ball. I just look at the metrics of how you run an oil business, and investments is critical.

The company’s new mission statement talks about ‘accessible, affordable and reliable energy. How critical is the exploitation of gas for making power more available and affordable and also a centrepiece of Nigeria energy transition? That’s really what the crux of this is, you know, affordable; reliable energy will transform Nigeria. Put it the other way; if you don’t have affordable and reliable energy, we will not be able to transform. This is the centrepiece of the work we are doing. When you look back to the concept of ESG, which goes back to Kofi Annan, who came up with this in the early 2000s, he called it socially responsible investment, SRI. And that was where ESG can from, and what it was meant to do, was to match up not just making an investment purely money but for you to be socially responsible when you make an investment. So you address the environment, social, and governance, which drives the investment decision. He didn’t think big about the E. SRI is not all about environmental reduction at all. Right, E is part of that mix. It is the social aspect. As you see around the world, the rule for 18, 20 years later is no more hydrocarbons. That’s not what SRI was about at all. The focus is now on the E and not on S. And our big argument to the world is, we’re being socially responsible in how we are investing because we are developing the S and at the same time addressing the E. That’s why gas is very important. It’s been that centre baseload to delivering it. Let’s look at the Seplat tree planting strategy, then juxtapose it with changing the environment. I mean, how are you able to marry these issues together? That goes back to the three-pronged strategy, which is pillar one, obviously, oil and gas, that addresses social aspects of the efficiency, that’s important. It is very important to continue that pillar one. Pillar two is that transition to gas, ramping it up, growing the gas to the gas to powered renewable energy solutions. They’re all interdependent. It’s not one or the other. We’re not phasing out one pillar for the other. We’re investing in all three pillars and ensuring that they’re all aligned and they’re giving a future transition to our business and Nigeria. In the nine months to September, the scorecard of Seplat was very impressive. Can we know your strategies to sustain that trend full year? Recently, the chairman resigned and another director. Do you think that this is something that investors should worry about and the future of Seplat? Thank you for that. Ok, it’s our scorecard. In the nine-month scorecard put out in our Q3 results, the trans facados terminal wasn’t just there and impacted our August/September results, but we still maintained our guidance for the year. We will come back and recover from that. And that is why we are looking into an alternative pipeline, alternative export route so that doesn’t happen again in the future. That makes our business a lot more robust. We spend a lot of time in our business to ensure we deliiver on the scorecard. We plan at a much lower oil price than what we have today. In terms of the chairman and the director, you use the word worry, no the word should be celebrated. And the reason is that right from inception Seplat set itself up to the highest level of governance and even goes higher than its regulations. So part of the governance and highest level of corporate governance is an independent chairman. And that’s not a requirement for a standard listed company; that’s a requirement for a premium listed company in the UK. We said from day one that we will always go above what the regulations say and which regulation is more stringent in the markets we operate, we will adopt that regulation. So having an Independent chairman has always been the plan and therefore, the chairman notifying us that in May 2022, he will step down as chairman of the board and that will be replaced by an

Brown independent chairman is an even stronger ESG, even stronger governance. And it’s quite a statement to make into the market that Seplat is now lifting it up to a higher level. And I think that rather be worried or scared about it, it actually should be embraced as a very big positive. The strategy is clear. There is a board system with directors and changing directors. We had an orderly CEO succession, and now we have a new CEO in place. These are attributes that companies have to survive and thrive and grow. And this is what Seplat wants; it’s not an issue. The other director that stepped down last week, the statement is clear that he did this for his own personal reasons. That’s why he stepped down. The board will always refresh and bring on new directors; this is what a living, breathing, striving company with the highest level of corporate governance would do. And then the future, I think certainly for us, I would say, our strategy is absolutely correct. And I think for the future of the indigenous sector within Nigeria, it is a bright future. I think you’re going to see assets changing hands from international oil companies. I think that’s, in my view, a positive. This is where Nigeria companies should own assets and important assets in Nigeria. And I think the future is very, very good. For companies like Seplat, we’re alone; we are the only one listed in London and premium board Lagos, Nigeria, but I think you’re going to see more companies like us over time. One huge feature of the Abuja conference was the huge presence of traditional rulers from the host communities and they all said good things about Seplat. Secondly, many industry players have complained about the resurgence of vandalism and oil theft, affecting operations. What’s your take? Thank you for that. The challenges through

vandalization are not impacting our operations other than that you get the odd flareup on the pipeline system, not our pipeline. Where we operate, we’ve had peace in terms of our assets, blocks that we operate. We may get the odd flareup in and around the export pipelines, and this is why you need alternatives. But it’s something we treat extremely seriously. We have a process by flowing barrels on the pipelines. We have enjoyed peace since inception, with our local rulers. Of course, the local rulers’ job is to fight for their areas, and they request rightly so for Seplat to reinvest in their regions. So we have a Global Memorandum of Understanding which lays out the reinvestment plans. We spend a lot of time with them to sit and listen to what they really require of us. Employment is probably the biggest thing, not directly with Seplat. But it is actually reinvestment in the areas that can generate jobs that can then employ the community youths. That’s very important. Social programs are critical in hospitals, schools and we have a lot of programs. We recently provided a constant supply of electricity to Oben Cottage hospital in an area where we operate. This was at the late Dr. Aisien from the area. He was the oldest living person from the area and, as a doctor, a lifelong lover of health care, when we went to see him, he requested that we provide the Oben Cottage Hospital with a reliable power source. Today, we’re supplying power to the hospital from our Oben facility in the area, and we will do more. We’re looking at solar solutions that can do that long term. It is something small, but it is listening to communities. I think the biggest thing will be the provision of employments because, with employment, communities can then thrive. We have Asset MDs who spend a lot of time with the communities. So community engagement is one stakeholder engagement we treat very seriously.

Fitch Ratings upgraded Seplat Energy Plc’s Long-Term Issuer Default Rating to ‘B’ from ‘B-’, can you explain what this means to the company? It’s a confirmation of our credit metrics as a business, it sees us as having a strong balance sheet, strong for business. If you look at the Fitch report, it shows that we had another shutdown in the pipeline, yet that Seplat has the muscle to pull through and we continue through that. I guess it’s just confidence. We are rated by three agencies, all three, Moody’s and S&P as well; they’re in on the same level. So, delighted we did. I think the announcement on the back of that just reaffirms the underlying business of Seplat, which is very strong from a credit metrics perspective. From what is happening with all the IOCs divesting, do you see opportunities there for you? I mean, looking at the success you have had with marginal ﬁelds. Do you see an opportunity there? And also, are you on track as regards your 50,000 barrels per day targets? And lastly, your teacher empowerment programme, can you share some insights into that? There are a lot of growth opportunities happening. At Seplat, we strive to balance organic growth and an excellent organic portfolio and then look at the right opportunities. Nigeria, probably one of the vast subsurface, has the best quality, and there’s a lot of opportunities here , so we look at that. I think it’s fair to say that the market is shifting from a seller’s market to a buyer’s market, which will benefit indigenous companies. But it’s certainly always been part of our strategy, and in terms of growth opportunities, in the 50,000 barrels a day, when ANOH comes on stream, you’ll see when we drive the gas condensate not far from gas, is going to take us there. That is why we’re excited to get that project up and running next year. The Seplat Teachers Empowerment Programme (STEP) is back to looking at the quality of education. Once you’ve got a very fast-growing population and you can educate them, then you have a big future. And so our STEPS program was about looking at the capacity development of the teachers and giving them the resources to enhance their proficiency to teach STEAM in their schools. We started small, but we will be growing it. It fits in our PEARLS Quiz programme, in terms of what we do with the schools. We have a quiz every year, and the levels of participation are extremely high, and the competition’s benefits are even higher. And this is an element of our business that we’re passionate about.

Fitch Upgrades Seplat Energy to ‘B’ on Firm’s $1m Investment in Salpha Energy to Stable Outlook, Company’s Resilience Boost Solar Home Systems Distribution Emmanuel Addeh in Abuja

Seplat Energy Plc has been upgraded to ‘B’ from ‘B-‘ by Fitch Ratings on its Long-Term Issuer Default Rating (IDR), confirming the company’s outlook to be ‘Stable’ and upgraded the company’s senior unsecured rating for $650 million senior notes due 2026 to ‘B’ from ‘B-‘. The rating agency stated the upgrade reflects improved financial flexibility and a strong liquidity profile following debt refinancing in 2021, which in its view will help Seplat Energy survive for more than two years of force majeure without access to the Trans Forcados Pipeline (TFP).

In addition, it noted that Amukpe-Escravos Pipeline (AEP), an alternative oil export route, had been completed and is undergoing commissioning, according to Seplat, but said there is no certainty around when it will ship its first oil. “The rating incorporates the small scale of Seplat Energy’s cash flows, concentration of the company’s asset base in Nigeria (B/Stable) and a historically unstable operating environment in the troubled Niger Delta, including recurring issues with the oil transportation system. “The rating also reflects moderate leverage, conservative financial policies, competitive unit

profitability, end-2020 reserve life of 27 years, and a growing domestic gas business,” it noted. Specifically, Fitch upgraded Seplat Energy’s $650 million bonds to B from B- with the upgrade reflecting improved financial flexibility and a strong liquidity profile following debt refinancing in 2021. On ESG, Fitch said it had revised Seplat’s relevance ccore for human rights, community relations, access and affordability to ‘4’ from ‘5’ as deeper communication and cooperation between local communities, the government and Seplat have significantly reduced the number of attacks on oil infrastructure.

Shell-funded independent impact investment company, All On, has announced a $1million investment in Salpha Energy Nigeria to scale the company’s solar home systems distribution business. The project is focused on bottom-of-the-pyramid customers in rural and semiurban areas across Nigeria including the Niger Delta. All On said at the signing ceremony in Lagos that the investment will be used to increase Salpha’s inventory and product range, expand sales channels and customer

service infrastructure, and test more flexible pricing models to sustainably manage rural customers in states across Nigeria including in the Niger Delta. “We are very excited about this support from All On which is an indication of their growing confidence in our vision. “This additional support will allow us to deliver on our strategy to provide products for customers across the range of their developing energy needs, ”Founder and Chief Executive Officer of Salpha Energy, Sandra

Chukwudizie, said. The Senior Investment Associate, All On, Goziem Okubor, said: “We are thrilled about this investment which is the continuation of a journey and would provide Salpha inventory needed to supply its expanding network of distributors and a platform to cement its competitive advantage and respond to growing market demand for Solar Home Systems. It’s also an opportunity to support young indigenous female entrepreneurs in building an exciting and fast-growing solar business.”

TUESDAY, NOVEMBER 23, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

LCCI, LASG Reaffirm Commitment to Agribusiness Value-Chain Devt Gilbert Ekugbe The Lagos Chamber of Commerce and Industry (LCCI) and the Ministry of Agriculture, Lagos State have expressed their commitment towards the development of the nation’s agribusiness value chain. Indeed, they urged the federal government to prioritise investment decisions into the country’s agribusiness value-chain, noting that it would bring about better improvement in food security, technology and stimulate youth participation in agricultural production to promote sufficiency in food supply. Speaking at the 2021 LCCI Secondary School essay competition themed, “The role of agribusiness in food security and national development,” the Commissioner for Agriculture Lagos State, Mrs. Abisola Olusanya charged youths to participate and involve in agribusiness value-chain, adding that this would create wealth and enhance better living standards of the economy. She averred that the world is currently facing multiple problems of food scarcity, global warming, low pricing of crude oil and volatility of the exchange rate while stressing that Nigeria is not left out of this global crisis considering her position in crude

oil exportation. She said; “While the agricultural sector plays a strategic role in improving food availability, the youths have the potentials to catalyse agricultural development and subsequently nation development by their collective efforts.” She noted that the potentials of agriculture are embedded in different sectors, adding that the participation of the youths across the value chain will actualise the Nigeria of our dreams. Earlier, the president, Lagos Chamber of Commerce and Industry, (LCCI), Mrs. Toki Mabogunje, said agribusiness sector is pivotal to harnessing the potentials for economic development. Mabogunje, who was represented by Vice President of LCCI, Mr. Olusegun Osunkeye, said the agribusiness is the business sector that encompasses farming related commercial activities in the agricultural value-chain adding that the sector plays major role in developing the economy with sustainable economic growth. According to her, agribusiness is a tool of sustainability and optimisation of processes adding that the sector supports transformational business growth as well as contributing to economic growth. While addressing the role of

agribusiness in food security and national development, the LCCI’s president mentioned that reports from Food and Agriculture Organisation (FAO) affirmed that

agribusiness is a key driver of sustainable economic growth while hinting that over 70 per cent of the world’s food needs are met by small farmers such that agriculture alone

employs 26.5 per cent of the world’s workforce. She said: “Agribusiness sector employs the most people in the world while stating that it is the

main source of food and income for many people living in poverty, therefore it is essential to many countries economic and national development.”

L-R: Engineer Sule Ahmed Abdulaziz, Chairman, West African Power Pool; Mr. Oluﬁsayo Duduyemi, Chief Strategy Oﬃcer, Axxela Limited, and Mr. Sengui Apollinaire KI, Secretary General, West African Power Pool (WAPP), during the formal admission of Axxela Limited into the West African Power Pool (WAPP) at the 16th General Assembly in Ouagadougou… recently

‘New Auto Policy Will Firm Introduces Local Plant Root Initiative U n l e a s h I n f l o w o f to Boost Banana Production in Africa Investments into Nigeria’ Gilbert Ekugbe

Emmanuel Addeh in Abuja The Director General, National Automotive Design and Development Council, (NADDC), Jelani Aliyu, has said that the National Automotive Industry Development Plan (NAIDP), otherwise called the Nigerian auto policy, would increase the flow of investments for the development of the automotive industry. Aliyu, who spoke at the opening session of the Abuja International Motor Fair, in Abuja, assured that the bill for legislation of NAIDP into an Act was being reviewed to make it more comprehensive, all encompassing, robust and effective will soon to be enacted into law. Represented by the Director, Industrial Infrastructure Department of NADDC, Dr. Nua Omisanya, Aliyu said the new auto policy will ensure the designation of automotive clusters in Lagos/Ogun, Kaduna/Kano and Anambra/ Enugu axis for local components development. He added that the new policy will encourage government’s patronage of products of local assembly plants as well as operation of vehicle purchase schemes, among others.

“It is with immense joy that it is being organised to boost investments in the auto sector and moulded at the automotive development policy. The show is an arena of enlightenment. The NAIDP otherwise called the Nigerian auto policy, is still in effect. It has not stopped nor changed but soon to be enacted into law. “The bill for legislation of NAIDP into an Act of Parliament is being reviewed to make it more comprehensive, all encompassing, robust and effective towards achieving sustainable growth and development of the automotive industry in Nigeria within the shortest possible time,” he stated. Also in his remarks, Chairman, Local Organising Committee of the annual Abuja Motor Fair, Ifeanyi Agwu called for special support from the three tiers of government to ensure the revival of Nigeria’s automotive industry in the country. Agwu, who is also the Managing Director of BKG Exhibitions Limited, lamented that the sector is in the league of the most poorly regulated in the Nigerian economy, hence the seemingly intractable challenges that have been its lot over the years.

Obaseki Boosts Agric Devt with Infrastructure As part of efforts to sustain investment in the agriculture sector to attain food sufficiency, drive job creation and improve livelihoods, the Edo State Government has commenced construction of a new structure for the state Ministry of Agriculture, at the premises of the Agriculture Development Programme (ADP), in Benin City. The Edo State Governor, Mr. Godwin Obaseki, after inspecting the site, said his administration plans to make the centre an agric hub. According to him, “We decided to create an agric hub. All agencies of

government that are in the business of agriculture will now be located here. We will have space for offices, facilities, and training centres all located here in this premises. “The mechanisation centre will also be sited here; that’s the plan. This will serve as a training facility to train people on different initiatives. We will have various projects offices including the livestock transformation project, and offices for multilateral agencies supported projects, among others.” Obaseki said he is optimistic that the new structure will be completed by June next year.

Seeding The Future (STF), a nonprofit organisation that seeds and supports innovative solutions that could improve the global food system has announced plans to integrate Arbuscular Mycorrhizal Fungi (AMF) to boost banana production in Africa. The founder of Seeding the Future Foundation, Mr. Bernhard Van Lengerich, said in a statement that the International Institute of Tropical Agriculture (IITA) was among the growth grand finalists for the award of $100,000 for its

project on integrating bio-inoculants to boost banana production in the East African Highlands. Lengerich said that the project was meant to introduce locally isolated AMF species into bananabased production systems and catalyze the development of a commercially sustainable and scalable process for its production and distribution to smallholder farmers in Eastern Africa for a sustainable banana food system, food security and nutrition. He said the project is a consortium of a multidisciplinary team from

Africa and the European Union. He noted that the award is part of the Seeding the Future Global Food System Challenge–an initiative that sought to inspire and support passionate, creative, diverse, and multidisciplinary teams to create game-changing innovations that will help transform the food system. “The submitted ideas for all award categories are very innovative with high impact potential to create a safer, nutritious, sustainable, and equitable food system, resulting in food that is trusted, affordable and accessible

by consumers,” he added. A Systems Agronomist at IITA, Mr. Manoj Kaushal, said: “The goal of this intervention is to have a commercially sustainable distribution of AMF primed micropropagated banana plantlets. The investment in AMF will be offsetted by many benefits in both short and long term.” The project path to scalability and economic feasibility is a multistage process through the private sector with capacity building and support from international donors / NGO partners and the government.

‘FG’s Local Content Policy Creating Opportunities for Indigenous Firms’ Peter Uzoho The Group Chief Executive Officer of Oando Plc, Mr. Adewale Tinubu has said that the federal government provided an enabling environment and access to business opportunities for indigenous companies in the country through its local content policy. Tinubu, according to a statement by Oando, stated this while speaking during a high-level public-private sector roundtable at the second edition of the Intra-African Trade Fair (IATF) held in Duban, South Africa. The roundtable focused on

aligning the interests of government and the private sector on intraAfrican trade and investment. Tinubu, whose company cosponsored the IATF with Dangote Group, stated that collaboration was crucial to the achievement of the goals and objectives of the Africa Continental Free Trade Agreement (AfCFTA). The Oando boss, who attended the fair with the Chief Operating Officer of Oando Energy Resources, Dr Ainojie Irune, noted that publicprivate partnership (PPP) in Nigeria enjoys solid support from the government. He said: “When we wanted to create indigenous success stories, an

enabling environment was provided for us via local content and access to opportunities. We were able to create a collaborative approach by creating policies that worked without ruling out opportunities. “For example, we built extensive gas pipelines within the country, and we had the Nigerian National Petroleum Corporation (NNPC) set up appropriate financial structures. I believe the same principles apply on a continental scale, in the sense that President Muhammadu Buhari has set lofty ideal for us regarding international trade.” Speaking on a panel session themed: “Optimising the Gains of the AfCFTA in the Context of

the Fourth Industrial Revolution”, Irune stated that re-skilling and education of the future workforce were critical to creating the muchneeded foundation to ensure Africa was not left behind. The panel discussed the policy and regulatory framework required to develop digital ecosystems that will encourage significant economic growth and development in Africa. The Oando COO noted that digitalisation and its attendant disruptive technologies was fundamentally changing existing business models, production processes, value chains, skills development and trade across the world.

Wabote: Duport’s 10,000bpd Modular Reﬁnery for Completion Next Month Emmanuel Addeh in Abuja The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, has said that the Duport modular refinery is on track to be completed before the end of December 2021. Speaking during an inspection visit to Duport Energy Park situated at Egbokor in Edo state, Wabote said the project being executed

with equity contribution from the local content board would create jobs for Nigerians. He noted that the collaboration was in tandem with the federal government’s policy of catalysing modular refining, which is geared towards increasing in-country refining of petroleum products and adding value to crude oil resources. The executive secretary indicated that the installations and civil

works at the plant as well as all mechanical works would be concluded before the 23rd of December 2021, noting that by first quarter of 2022, the gas gathering facility will also be completed. Speaking further, the NCDMB boss hinted that local content opportunities on the project are numerous, noting that 100 per cent of the total workforce come from Nigeria. Also speaking, Managing

Director and Chief Executive Officer, Duport Midstream Company Limited, Dr. Akintoye Akindele, reiterated that Duport Energy Park was the first “smart” energy park in the world that comprises a 10,000 barrels per day modular refinery. In addition, he stated that the asset also comprises 60 million standard cubic feet per day gas gathering facility, a 50MW power plant and a data analysis centre.

TUESDAY, ͺͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

Tuesday, November 23, 2021

dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ƌŽƐĞ Ϭ͘ϯй dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĨĞůů ďǇ ϭϰďƉƐ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ƌŽƐĞ ϯϬďƉƐ ƚŽ ĐůŽƐĞ Ăƚ ϭ͕ϴϱϯ͘ϴϬ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĚĞĐůŝŶĞĚ ďǇ ϭϰďƉƐ ƚŽ ƐĞƩůĞ

THISDAY AFRINVEST 40 INDEX

ƉŽŝŶƚƐ ĚƵĞ ƚŽ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŝŶ 'd K ;нϬ͘ϮйͿ͕ E/d, ;нϭ͘ϯйͿ͕ Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ ĂŶĚ E ^d> ;нϭ͘ϴйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ

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

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘

Ticker

THISDAY AFRINVEST 40

1,853.80

0.30%

915.00

0.0%

32.3%

74.50

0.0%

10.4%

25.45

0.2%

7.0%

dŚĞ ƵůůƐ ZĞŽƉĞŶ ƚŚĞ tĞĞŬ͘͘͘ ^/ ƵƉ ϭϰďƉƐ

^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй

zĞƐƚĞƌĚĂǇ͕ ƚŚĞ ůůͲ^ŚĂƌĞ /ŶĚĞǆ ƌŽƐĞ ϭϰďƉƐ ƚŽ ϰϯ͕ϮϲϬ͘ϭϯ ƉŽŝŶƚƐ

zĞƐƚĞƌĚĂǇ͕ ƉƌŝĐĞ ŝŶ ƵƉƟĐŬ ŝŶ E/d, ,KEz&>KhZ ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ƵƉƟĐŬƐ & E, ;нϲ͘ϱйͿ͕ ;нϭ͘ϯйͿ͕ ;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ƚŚĞ ĂŶĚ zd & E, ďŽůͲ ĂŶĚ K E K ;нϲ͘ϬйͿ͘ ĐĐŽƌĚŝŶŐůǇ͕ ƌĞƚƵƌŶ ;нϬ͘ϳйͿ ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ ϳ͘ϰй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ŐĂŝŶĞĚ േϯϭ͘ϴďŶ ƚŽ േϮϮ͘ϲƚŶ͘ ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ dƌĂĚŝŶŐ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ^ŚĂƌĞ ĂĐƟǀŝƚǇ ŝŶƚĞŶƐŝĮĞĚ ŝŶĚĞǆ ĂƐ ƚŚĞ ǀŽůƵŵĞ ƌŽƐĞ ďǇ ƐƵƌŐĞĚ ϭϭϳ͘ϯй ĂŶĚ ϰϯ͘Ϭй ƚŽ zd ϰϯϯ͘ϲŵ ϭϭďƉƐ ƚŽ ϯϵ͕ϱϱϬ͘ϯϲ ƉŽŝŶƚƐ͘ ƌĞƐƉĞĐƟǀĞůǇ ŽŶƐĞƋƵĞŶƚůǇ͕ ůŽƐƐ ƵŶŝƚƐ ŝŵͲ ĂŶĚ േϰ͘ϳďŶ͘ D E &/d ;ϭϯϰ͘Ϭŵ ƵŶŝƚƐͿ͕ & E, ;ϴϴ͘ϳŵ ƵŶŝƚƐͿ͕ ĂŶĚ

ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďǇ 'd K ;ϰϯ͘Ϯŵ ƵŶŝƚƐͿ ůĞĚ ƚŚĞ ǀŽůƵŵĞ ĐŚĂƌƚ ǁŚŝůĞ 'd K ;േϭ͘ϭďŶͿ͕

േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ǁĂƐ ŵŝǆĞĚ ĂƐ ǀŽůƵŵĞ & E, ;േϭ͘ϭďŶͿ͕ ĂŶĚ E ^d> ;േϱϴϴ͘ϳŵͿ ůĞĚ ďǇ ǀĂůƵĞ͘͘

ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďǇ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ

Price Previous Current Change Price YTD Weighting Change

Current Price

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

Price Change Index to Date

ROE

ROA

85.4%

15.0%

3.5%

7.4%

14.7%

5.2%

-3.7%

19.1%

11.2%

35.8x

6.7x

-21.3%

24.8%

3.9%

3.9x

1.0x

11.8%

26.0% 30.5%

6.3%

-2.4%

20.9%

2.8%

3.3x

0.6x

12.5%

6.6%

14.3%

40.4%

16.7%

13.9x

5.4x

6.0%

7.2%

190.00

0.0%

5.2%

11.8%

179.2%

14.1%

13.7x

20.8x

5.5%

7.3%

1,390.00

1.8%

3.5%

-7.6%

106.8%

15.6%

27.0x

31.7x

4.4%

3.7%

24.45

-2.2%

3.7%

16.2%

11.6%

8.4%

9.1x

1.0x

4.1%

10.9%

9.10

1.1%

2.9%

7.7%

17.0%

1.4%

2.6x

0.4x

9.4%

39.2%

8.20

0.0%

2.4%

-5.2%

2.1x

0.4x

6.7%

48.5%

12.30

6.5%

4.0%

72.0%

10.6%

1.0%

5.7x

0.6x

3.7%

17.4%

50.60

0.0%

1.8%

-9.6%

5.3%

1.9%

46.6x

2.4x

2.2%

2.1%

39.00

0.0%

2.0%

3.3%

15.4%

2.0%

9.0x

1.4x

10.8%

11.2%

-10.3%

-3.9%

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

-7.6%

12.5%

16 SEPLAT Energy PLC 17 11 PLC

721.20

0.0%

1.8%

79.3%

3.4%

18 Okomu Oil Palm PLC 19 Fidelity Bank PLC

142.00

0.0%

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

1.2%

56.0%

2.60

1.2%

0.7%

3.2%

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

20 Ecobank Transnational Inc 21 Dangote Sugar Refinery PLC

8.70

1.2%

0.9%

45.0%

16.50

-1.8%

0.5%

-6.3%

K ;нϲ͘ϬйͿ ĂŶĚ KEK/> ;нϮ͘ϱйͿ͘ /Ŷ ƚŚĞ ƐĂŵĞ ǀĞŝŶ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ

22 FCMB Group Plc 23 Sterling Bank PLC

3.05

1.7%

0.5%

-8.4%

1.48

-0.7%

0.3%

-27.5%

10.1%

0.9%

24 NASCON Allied Industries PLC 25 Transnational Corp of Nigeria

14.15

0.0%

0.4%

-2.4%

21.3%

6.9%

0.96

0.0%

0.4%

6.7%

-1.3%

-0.3%

ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ

26 Presco PLC 27 Unilever Nigeria PLC

88.90

0.0%

0.3%

25.3%

13.50

0.0%

0.2%

-2.9%

-1.3%

-0.8%

ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞǆ ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d Ϭ͘ϭй ĂƉŝĞĐĞ ĨŽůůŽǁŝŶŐ ƐĞůůŽīƐ ŝŶ E'^h' Z ;Ͳϭ͘ϴйͿ ĂŶĚ t WͲ

28 PZ Cussons Nigeria PLC 29 United Capital PLC

6.10

1.7%

0.2%

15.1%

ŝŶĚĞǆ ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ K ;ͲϮ͘ϮйͿ͘

30 Guinness Nigeria PLC 31 Custodian and Allied Insurance

Θ 'ĂƐ ǁĂƐ ƚŚĞ ďĞƐƚͲƉĞƌĨŽƌŵŝŶŐ ŝŶĚĞǆ͕ ƵƉ ϭ͘ϯй ŽŶ ŐĂŝŶƐ ŝŶ K EͲ

ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ƌŽƐĞ Ϭ͘ϵй ĂŶĚ Ϭ͘ϴй ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƉƌŝĐĞ

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ E D ;нϳ͘ϵйͿ͕ & E, ;нϲ͘ϱйͿ͕ ĂŶĚ E/d, ;нϭ͘ϯйͿ͘ DĞĂŶǁŚŝůĞ͕ ƚŚĞ ŽŶƐƵŵĞƌ ĂŶĚ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚŝĐĞƐ ƐŚĞĚ

Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ

ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ ϵ͘ϭйͿ͕

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;Ͳϲ͘ϰйͿ͕

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬ

ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ ĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ĮƌŵĞĚ ƵƉ ƚŽ ϭ͘Ϯǆ ĨƌŽŵ Ϭ͘ϳǆ ĂƐ ϭϴ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďǇ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůůͲ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ ,KEz&>KhZ ;нϵ͘ϳйͿ͕ E D ;нϳ͘ϵйͿ͕ ĂŶĚ & E, ;нϲ͘ϱйͿ ůĞĚ ŐĂŝŶĞƌƐ ǁŚŝůĞ hW ;Ͳϵ͘ϳйͿ͕ &dE K K ;Ͳ ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘

14 International Brew eries PLC 15 Flour Mills of Nigeria PLC

ƐĞƐƐŝŽŶ͕ ǁĞ ĂŶƟĐŝƉĂƚĞ ŵŝůĚ ŐĂŝŶƐ ĚƵĞ ƚŽ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŽŶ ĨƵŶͲ Ğƌ͕ ƵƉ ϭ͘ϴй ĚƌŝǀĞŶ ďǇ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂͲ ĚĂŵĞŶƚĂůůǇ ƐŽƵŶĚ ƐƚŽĐŬƐ ǁŝƚŚ ĂƩƌĂĐƟǀĞ ƉƌŝĐĞƐ͘

1.0x

-10.4%

4.5x

0.7x

5.6%

22.2%

1.9%

16.6x

0.6x

5.9%

6.0%

38.8%

25.2%

9.7x

3.4x

5.2%

10.3%

12.0%

1.1%

2.3x

0.3x

8.6%

43.5%

1.5%

0.1%

28.8x

0.4x

0.0%

32 AIICO Insurance PLC 33 TotalEnergies Marketing Nigeri 34 Julius Berger Nigeria PLC 35 Wema Bank PLC 36 Union Bank of Nigeria PLC 37 Oando PLC 38 Notore Chemical Industries Ltd 39 Beta Glass PLC 40 Transcorp Hotels Plc

ϵ͘ϭйͿ͕ ĂŶĚ : W h>'K> ;Ͳϰ͘ϵйͿ ůĞĚ ĚĞĐůŝŶĞƌƐ͘ /Ŷ ƚŚĞ ŶĞǆƚ ƚƌĂĚŝŶŐ ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ

2.8%

1.3%

1.1%

ŐĂŝŶĞĚ͕ Ϯ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ŝŶĚĞǆ ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ Kŝů

9.1%

3.2x

0.3x

3.4%

13.3x

2.7x

2.8%

7.5%

0.6x

1.0%

-2.2%

2.1x

1.1%

4.9%

1.2x

-1.1% 4.1%

9.75

1.0%

0.4%

107.0%

2.2x

7.2%

0.0%

0.4%

92.1%

8.1%

3.8%

13.0x

1.0x

1.3%

7.7%

7.75

0.0%

0.2%

32.5%

24.7%

7.5%

3.8x

0.9x

7.1%

26.2%

7.2%

1.1%

297.6x

0.5x 1.9%

20.3% 23.1%

1.25

-0.8%

0.2%

10.6%

216.80

0.0%

0.3%

66.8%

24.80

0.0%

0.2%

40.7%

18.3%

2.4%

4.3x

0.8x

1.7%

0.81

0.0%

0.1%

17.4%

13.7%

0.8%

3.8x

0.5x

4.9%

26.2%

-1.0%

0.0%

7.1%

0.8%

5.5x

0.6x

5.1%

18.1%

2.2x

0.3%

4.9x

5.15

6.0%

0.2%

39.2%

14.5%

2.6%

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%

4.7x

0.3x

45.1%

2.1x

-20.1%

0.6x

2.0%

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

P ric e

P ric e C hg %

T ic k er

Vo lum e

P ric e C hg %

3.72

9.7%

M B EN EF IT

134.0

0.0%

N EM

2.05

7.9%

FB NH

88.7

6.5%

FB NH

12.30

6.5%

GT C O

43.2

0.2%

ŽƌƉŽƌĂƚĞ ŝƐĐůŽƐƵƌĞ

OA N D O

5.15

6.0%

ST ER LN B A N K

25.5

-0.7%

/ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

ŶĞŐŽƟĂƟŽŶƐ ƚŽ ĂĐƋƵŝƌĞ Ă ϳϭ͘ϲϵй ŵĂũŽƌŝƚǇ ƐŚĂƌĞŚŽůĚŝŶŐ ŝŶƚĞƌĞƐƚ

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲǆ

ĂŶĚ Ă ϱ͘Ϭϲй ĞƋƵŝƚǇ ŝŶƚĞƌĞƐƚ ŝŶ ,ŽŶĞǇǁĞůů &ůŽƵƌ DŝůůƐ WůĐ ;,&DWͿ

ĨƌŽŵ ϭ͘ϯǆ ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ

ĨƌŽŵ ,ŽŶĞǇǁĞůů 'ƌŽƵƉ >ŝŵŝƚĞĚ ;,'>Ϳ ĂŶĚ &ŝƌƐƚ ĂŶŬ ŽĨ EŝŐĞƌŝĂ

C H A M P ION

2.71

3.8%

UN IVIN SUR E

13.9

-4.8%

C WG

1.05

2.9%

Z EN IT H B A N K

11.7

1.3%

22.25

2.5%

A C C ESS

9.8

1.1%

2.10

1.9%

A IIC O

7.4

-0.8%

1390.00

1.8%

UB A

5.2

0.0%

3.05

1.7%

UB N

5.1

-1.0%

C ON OIL LIVEST OC K N EST LE FCM B

ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ĐĐŽƌĚŝŶŐ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ ǁŝůů D zͲ >ŝŵŝƚĞĚ ƌĞƐƉĞĐƟǀĞůǇ͘ ƚŽ &DE͕ ƚŚĞ ĂĐƋƵŝƐŝƟŽŶ ƌĞͲ

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

< Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ŝŶ ůĞĚ ŐĂŝŶĞƌƐ ƐƵůƚ ŝŶ &DE ŚŽůĚŝŶŐ Ă Đ͘ϳϲ͘ϳϱй ĞƋƵŝƚǇ ŝŶƚĞƌĞƐƚ ,&DW ƵƉŽŶ ĐŽŵƉůĞƟŽŶ͕ ƐƵďũĞĐƚ ƚŽ ƌĞůĞǀĂŶƚ ƌĞŐƵůĂƚŽƌǇ ĂƉƉƌŽǀĂůƐ͘ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ

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

T ic k er

P ric e

P ric e C hg %

T ic k er

Value

UP D C

1.39

-9.7%

GT C O

1103.5

0.2%

F T N C OC OA

0.40

-9.1%

FB NH

1076.8

6.5%

J A P A ULGOLD

0.39

-4.9%

N EST LE

588.7

1.8%

354.0

0.0%

UN IVIN SUR E

0.20

-4.8%

NP FM CRFB K

1.72

-4.4%

Z EN IT H B A N K

281.8

1.3%

15.30

-4.1%

B UA C EM EN T

174.4

0.0%

3.10

-3.4%

F LOUR M ILL

124.2

0.0%

D A N GC EM

102.8

0.0%

C UT IX A B CTRA NS

0.29

-3.3%

UA C N

10.45

-2.3%

SEP LA T

97.8

0.0%

-2.2%

WA P C O

90.2

-2.2%

WA P C O

Afrinvest West Africa Limited

P ric e C hg %

M TNN

N GXGR OUP

24.45

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

21.4%

0.9x

H ON YF LOUR

zĞƐƚĞƌĚĂǇ͕ &ůŽƵƌ DŝůůƐ ŽĨ EŝŐĞƌŝĂ WůĐ ;Η&DEΗͿ ĂŶŶŽƵŶĐĞĚ ƉĂƌĂůůĞů

31.1%

36.50

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

3.5%

1.6x

ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ

15.2%

2.0%

0.0%

1.4%

WĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŵŝǆĞĚ ĂĐƌŽƐƐ ŽƵƌ ĐŽǀĞƌĂŐĞ ƐĞĐƚŽƌƐ ĂƐ ϯ ŝŶĚŝĐĞƐ

5.2%

24.20

0.0%

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

0.8x

280.00

0.0%

DŝǆĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

Divindend Earnings Yield Yield

7.4%

5.50

ƚƌĂĚĞĚ ƌŽƐĞ ďǇ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ

5.4x

P/BV

26.3%

29.25

P/E

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu| dasimiyu@afrinvest.com

T H I S D AY ˾ ˜ NOVEMBER 23, 2021

BUSINESS/MONEYGUIDE

HoS Seeks Collaboration with Finance Ministry on MDAs Capacity Building Olawale Ajimotokan ËØÎ Fola Alaran ÓØ ÌßÔË The Head of civil service of the Federation (HoS), Dr. Folashade Yemi-Esan has called for robust collaboration between the Federal Civil Service Commission and the Federal Ministry of Finance, Budget and National Planning to help strengthen the performance of all the Ministries Department and Agencies (MDAs). She said this was necessary after observing that there has been an exponential decline in the capacity of most MDAs to discharge their planning, research

and data management related responsibilities. She spoke at the closing ceremony of a two- month training programme for the reinforcement of the planning officers cadre in the federal civil service. She said: “Planning is central to the survival and growth of any organisation and the civil service cannot be left behind. Hence, when we observed the exponential decline in the capacity of some MDAs to discharge their planning, research and data management related responsibilities, it became evident that that we needed to take proactive steps to address

the challenge”. She tasked the selected officers to put in their best in designing and driving government strategic plans by demonstrating exceptional capacity in their respective MDAs towards the delivery of the nine-point agenda of the Buhari-led administration. She also urged them to be actively engaged in the implementation of the National Development Plan for 2021-2025 which the Federal Executive Council recently approved to succeed the Economic Recovery and Growth Plan (ERGP) 20172020 which elapsed in December 2020.

Investment One to Drive Market Expansion with New Solution Investment One Financial Services through its Venture Capital subsidiary, Investment One Vencap Limited has taken a stake in Paycode, a rapidly growing fintech business focused on financial inclusion across Africa and the frontier markets to drive business expansion in the African market. The South African-based Paycode is a provider of technology solutions that use biometric digital identity to guarantee proof of life and enable low-cost, last-mile delivery of basic financial services. In a statement, it said the new solution will address three critical problems for the unbanked and underserved by providing low-

cost solutions to those without formal identification in areas with little or no mobile or internet connectivity. “However, enables access to basic financial services including cash pay-outs, mobile money, remittances, insurance, microloans, airtime, electricity and social grants by providing a platform that combines biometric digital identity and payments in one convenient platform, “the statement reads. Commenting on the new development, the Chief Executive Officer, Paycode, Ralph Pecker, said, “We see Investment One as so much more than just an equity partner to Paycode. They are a significant and innovative

player in the financial services sector of Nigeria, a key growth market for the organisation. We believe that having them on board will greatly accelerate our expansion objectives in Nigeria and that we, in turn, can provide an excellent return on their investment.” Pecker said Investment One was particularly attracted by the technological USPs of Paycode, a valuation that focused on current revenues and users while reasonably discounting cash flows (in an environment where fintech valuations have noticeably sky-rocketed during 2021) and the scope for growth in Nigeria through projects already won.

DataPro Assigns MyCredit“BBB”Rating DataPro, the technology-driven credit rating agency yesterday assigned MyCredit Investments Limited, long-term rating of “BBB+” with a stable outlook for the year 2021/2022. DataPro, in a statement signed by its Client Service Manager, Mr. Kehinde Rasheed explained that the “BBB+” indicates slight risk. This rating, according to him, shows fair financial strength, operating performance, and business profile

by the standard established by DataPro. “This company, in our opinion, can meet its ongoing obligations, but its financial strength is vulnerable to adverse changes in economic conditions,” the statement said. It stated further that the DataPro Rating Committee approved the rating after assessment of the company’s financial performance, capital adequacy, asset quality, liquidity, profitability, corporate gover-

nance, and risk management, risk factors, and future outlook of its current healthy profile in the medium to long-term period. The statement said, “The rating of MyCredit Limited is supported by the company’s very good liquidity position, good profitability, and asset quality. MyCredit Investments Limited had a short-term rating of “A2” which indicates fair credit quality and adequate capacity for timely payment of financial commitments.”

LR: Lagos Zonal Head, Securities and Exchange Commission (SEC), Mr Steven Falomo, Managing Director, Lagos Commodities and Futures Exchange (LCFE), Mr Akin Akerelolu - Ale, Chairman SEC’s Financial Literacy Committee, Mrs Toyin Sanni and Registrar, and Chief Executive, Chartered Institute’ of Stockbrokers (CIS), Mr Josiah Akerewusi at 2021 World Investors Week (WIW) in Lagos, yesterday

MARKET INDICATORS MONEY AND CREDIT STATISTICS 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

Henkel’s Forscherwelt Initiative Targets 62,000 Nigerian Children Henkel has stated that its global educational initiative, Forscherwelt is expected to expose over 62,000 children in Nigeria to the fascinating world of science through specific learning objectives. According to the company, the move was to further encourage children to explore the world of science and make research fun. The Managing Director of Henkel Nigeria, Mr. Rajat Kapur, said the initiative reflects the focal points of Henkel’s research areas and would drive its involvement in community relations. Kapur during the launch of

the initiative at The People’s Primary School in Ibadan said the company envisions empowering young talents and giving them the support to flourish in their various communities. This, he said was the reason why the launch was held at the People’s Primary School, as it is situated in the surrounding community where its Ibadan plant in based. He said since the inauguration at Henkel’s Düsseldorf headquarters in April 2011, more than 62,000 children around the world have taken part in Henkel’s Forscherwelt programmes and he looks forward to school children

from Nigeria benefiting from the initiative. According to the global coordinator, Mr. Ute Krupp, the programme is designed for children between the ages of eight to ten and takes a holistic approach towards teaching and learning by putting children into the role and workplace of an actual researcher. Krupp said: “The programme is Henkel’s way of contributing to scientific literacy, and it includes teaching units for elementary schools in different settings with teaching materials and training courses developed by educational specialists.”

LSMDA Rallies Support to Combat Drug Abuse,Trafficking in Nigeria Gilbert Ekugbe The Lagos State Medicine Dealers Association (LSMDA) has called on the support of stakeholders in the industry and its members to fight drug abuse, trafficking, sales and distribution of narcotics, hard drugs and other unwholesome products in the country. The president, LSMDA,

Alphonsus Okoroji, stated the influx and circulation of unwholesome products in the nation is worrisome as he urges every member of the association to key into the quest of riding the nation of narcotics and hard drugs. Okoroji stated this at the 6th Annual General Meeting of the association held in Lagos. According to him, the asso-

ciation has passed through the stages of sitting down, crawling and walking, saying that as the leading trade union in sales and distribution of pharmaceutical products, it is its obligation to respect and abide by rules and regulation of the government especially as its trade is regulated by different agencies of government.

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

Gilbert Ekugbe

(MILLION NAIRA)

JANUARY 2021

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 ˾ ˜ Ͱͱ˜ ͰͮͰͯ

Price Appreciation in Nestle, Others Drive Stock Market by 0.14% Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) yesterday gained 0.14 per cent, driven by price appreciation in Nestle Nigeria Plc, 17 others to commence week on a positive investors’ sentiment. In summary, the NGX All-Share Index (ASI) grew by 60.86 basis points, representing an increase of 0.14 per cent, to close at 43,260.13 basis points. Similarly, the overall

market capitalisation value gained N32 billion to close at N22.576 trillion. Sector performances were positive yesterday with the Oil and Gas gaining 1.27per cent), Banking Index appreciated by 0.76 per cent and Consumer Goods added 0.01 per cent sectors closing in the green territory, while the Industrial dropped by 0.14 per cent sector closed to the downside. This week, analysts at United

P R I C E S MAIN BOARD

F O R

DEALS

Capital Plc said “We expect a sideways market, with a bias towards the bias, as we expect continued investor profit-taking on gains from the nine months earnings season. Additionally, market participants will be watching the fixed income space.” Market breadth was positive as 18 stocks advanced as against 16 stocks declined. Honeywell Flour Mills recorded the highest price gain of 9.73 per cent to close at N3.72, per share. NEM Insurance

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

followed with a gain 7.89 per cent to close at N2.05, while FBNH went up by 6.49 per cent to close at N12.30, per share. Oando rose by 5.97 per cent to close at N5.15, while Champion Breweries gained 3.83 per cent to close at N2.71, per share. On the other hand, The Initiates Plc led the losers’ chart by 9.76 per cent to close at 37 kobo, per share. UACN Property Development Company (UPDC) followed with a decline of 9.74 per cent

T R A D E D MAIN BOARD

A S

to close at N1.39, while FTN Cocoa processors declined by 9.09 to close at 40 kobo, per share. Japaul Gold and Ventures lost 4.88 per cent to close at 39 kobo, while Universal Insurance shed 4.76 per cent to close at 20 kobo, per share. The total volume of trades increased by 1,103.94 per cent to 2.402 billion units, valued at N16.467 billion, and exchanged in 4,811 deals. Transactions in

O F

the shares of Oando topped the activity chart with 1.973 billion shares valued at N11.834 billion. Mutual Benefits Assurance followed with 133.976 million shares worth N32.591 million, while FBNH traded 88.659 million shares valued at N1.077 billion. Guaranty Trust Holding Company (GTCO) traded 43.152 million shares valued at N1.104 billion, while Sterling Bank transacted 25.499 million shares worth N37.749 million.

1 9 / 1 1 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

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TUESDAY, ͺͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

2021 LAIF AWARDS NIGHT... L-R: President, Advertising Agencies Association of Nigeria (AAAN), Steve Babaeko; Chief Executive Oﬃcer, TreeWater Retreats Limited, Julia Oku-Jacks; Chairman, Lagos Advertising Festival (LAIF) Award PHOTO: SUNDAY ADIGUN Management Board, Lanre Adisa and member, LAIF Management Board, Temitope Jemerigbe, during the 2021 LAIF Awards held in Lagos…recently

Despite Drop in Crude Oil Price, Nigeria Earning $38pb above Benchmark Emmanuel Addeh in Abuja Oil prices remained under pressure yesterday, on the back of continuing Libya’s output and threats by the United States, Japan, China and India to release their Strategic Petroleum Reserves (SPR) to cool rising prices. Although the price has been bearish for weeks, Nigeria, however, does not appear to be in trouble as the country has for months been earning about $40per barrel (pb) above its oil benchmark of $40 in its 2021 budget. In the last seven weeks,

Brent, Nigeria’ benchmark oil, has lost about $8, having almost touched $87 in October, but has come under serious threat as the COVID-19 situation in Europe worsens, raising concerns about both oversupply and weak demand. On Monday, Brent lost 26 cents, or 0.3 per cent, to hit a low of $78.63 a barrel while United States oil, West Texas Intermediate (WTI) crude futures were down 12 cents, or 0.2 per cent, at $75.82 a barrel. But rising dollar earnings hasn’t done much to ameliorate the scarcity of the greenback in

FG Disburses N56.84bn Survival Fund to 835,161 Beneficiaries Victor Ogunje in Ado Ekiti

The Minister of Industry, Trade and Investment, Chief Niyi Adebayo, has disclosed that a total of N56.84 billion had been disbursed to operators of micro, small and medium scale enterprises (MSMEs) in Nigeria, out of the N75 billion Survival Fund earmarked by President Muhammadu Buhari's government. The minister said this yesterday, during the opening of the technical session of the 13th meeting of the National Council on Industry, Investment and Trade held at Ado-Ekiti, Ekiti State. The minister who was represented by the Permanent Secretary in the Ministry, Dr. Evelyn Ngige, said the scheme was targeted at strengthening ordinary Nigerians and reduce the poverty index to the nearest minimal. Adebayo said: "On the N75 billion MSME Survival Fund, the programme has disbursed N8.80 billion to 293,336 beneficiaries under the Artisan Support & Transport Scheme; N43.92 billion to 459,334 beneficiaries under the Payroll Support Scheme, and N4.12 billion to 82.491 beneficiaries under the MSME Grant Scheme. "In total, the sum of N56.84 billion has been disbursed to

835,161 beneficiaries under the MSME Survival Fund scheme." Adebayo revealed that the ministry has begun full activation of the six private sector-led Special Economic Zones (SEZs) at Lekki, Eyimba, Funtua, lbom, Kano, and Benue, saying the government was working through the Nigeria Export Processing Zones Authority, to ensure the Authority delivers the establishment of three SEZs in 2022, In addition, Adebayo said the ministry had, "in line with the Presidential directive for the establishment of at least one Agro-Processing Zone in each of the 109 Senatorial Zones, commenced the process of collecting agro-commodities data in 16 states. He listed the states to include Ebonyi, Plateau, Edo, Jigawa Ondo, Gombe, Abia, Benue, Osun, Sokolo, Zamfara, Enugu, Ekifi, Bauchi, Kebbi and Bayelsa in the first implementation phase. "We have also ensured credit access to ten million MSMEs at a single-digit rate. In the implementation of this strategic pillar of the federal government to reduce the rate of unemployment in the country, the Ministry through the Bank of Industry (BOI) has disbursed N15bn to 863 MSME businesses across several sectors," he added.

the country, as much of the extra funds have gone into payment of petrol subsidies. Nigeria’s 2021 is predicated on a crude oil benchmark price of $40 per barrel, with production for this year estimated at 1.86 million barrels per day. However, Nigeria has continued to under-produce its Organisation of Petroleum Exporting Countries (OPEC) quota allocation essentially due to ageing upstream infrastructure as a result of years of under-investment as well as difficulty in restarting oil wells that were shut down last year in a bid to comply fully with the oil cartel’s mandatory cuts. Even with falling oil rates, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, recently said there was no cause for alarm, stressing that Nigeria was most comfortable with a price range of between $50 to $60.

This , he said was to ensure that buyers of Nigeria’s crude oil do not find cheaper alternatives as a result of skyrocketing oil and gas prices. Japan and a number of other countries have in the last few weeks signalled their readiness to help combat soaring oil prices following a request from the United States to release oil from their emergency stockpile, in an unprecedented move. The White House has continued to press the OPEC producer group to maintain adequate global supply, days after discussions with some of the world's biggest economies over potentially releasing oil from strategic reserves to quell high energy prices. In a note at the weekend, Citibank analysts stated that the combined SPR release could be 100 million to 120 million barrels or even higher, including 45 million to 60 million barrels from the United States, about 30 million barrels

from China, five million barrels from India and 10 million barrels each from Japan and South Korea. "If released over December and January, this could mean looser markets by some 1.5-2.0 million bpd. This would be against the backdrop of expected stock draws of 2.8 million bpd in Dec’21 and 0.5 million bpd in Jan’22 without any SPR release," Citi stated. Aside the heightening production from Libya and threats to open up reserves, further weighing on prices is possible renewed lockdowns in Europe as COVID-19 cases surge again and as Germany warned it may need to move to a full lockdown after Austria said it would re-impose strict measures to tackle rising infections. Meantime, US bank Goldman Sachs, is sticking to its forecast that Brent will average $85 per barrel this quarter, arguing that this month's decline in oil prices has been driven by an "excessive

wall of worries" and has "overshot" the actual fundamental risks. In its view, the fall has "far overshot the actual fundamental risks due to low trading volume", the bank said in a note to investors. "Our pricing model shows that the $8/bl price decline since late October is equivalent to the market pricing in a 4 million bpd combined hit to demand or increase in supply over the next three months," the bank said. "We therefore view the move as excessive, especially as the oil market remains in a large deficit, and reiterate our $85/bl 4Q21 average forecast," the bank added. It said that inventory data point to an imbalance in supply and demand of around 2 million bpd over the last four weeks. "This magnitude of deficit is in fact on its own sufficient to absorb the current perceived headwinds to the oil bull thesis, with lower prices in fact reducing the odds of a strategic release," it said.

Atiku, Others Mourn Veteran Nigerian Comic Actor, Baba Suwe Vanessa Obioha

Former Vice President Atiku Abubakar was among those, who paid tribute to the veteran Nigerian comic actor, Babatunde Omidina, popularly known as Baba Suwe, who passed on yesterday, November 22, 2021. News of the comedian's death was confirmed by his son, Adesola, who wrote on Instagram: "This is to announce the sudden death of my father Mr Babatunde Omidina, the legend and rare gem, 'Baba Suwe' 11/22/21." Also, confirming the death was President of the Theatre and Motion Pictures Association of Nigeria (TAMPAN), Mr Bolani Amusan aka Mr. Latin, who said the deceased's son broke the news to him. However, mourning the loss of the actor, who entertained many households with his comical skills, Atiku wrote on Twitter: "Babatunde Omidina,

aka Baba Suwe, thank you so very much for bringing so much happiness and joy into our homes. May your soul rest in peace." Rinsola Abiola, a political activist and daughter of the late politician, Moshood Abiola, recalled fondly how the darkskinned actor always lit up the screen with his hilarious performances. "I grew up watching him. I thought he was hilarious and every time he came up on the screen, everyone knew a good laugh would follow" she said, adding: "He was a veteran actor, an icon in his field, who brought joy to many through his craft." Comedian and actor, Woli Arole, also wrote on Twitter: “Rest in Peace Baba Suwe. I am excited we were able to celebrate you while you were alive.” Baba Suwe started his acting while in secondary school, performing with theatre

groups. However, the movie that brought him to the limelight was 'Iru Esin'. He featured in other films and also delved into filmmaking. Some of the movies he produced included 'Eku Meji' and 'Alfa Nla'. He was famous in mostly Yoruba movies. In 2009, Baba Suwe lost his wife and actress Omoladun. It was reported that the actor was deeply affected by the loss but before he could recover from the shock, there were rumours that his step-daughter had accused him of killing her mother. The speculations were later dismissed as false. In 2011, the actor was accused of drug trafficking by the National Drug Law Enforcement Agency (NDLEA) but the allegation was dismissed by a Lagos High Court, which asked that Baba Suwe should be compensated for the defamation of his character. The actor had said in interviews that the

experience crippled his health. His health would become a public discourse in 2019, when friends solicited funds for his medical treatment. Through the generosity of well-meaning Nigerians like Vice President Yemi Osinbajo, Billionaire Femi Otedola and Reverend Esther Ajayi of the Love of Christ Generation Church, Cherubim and Seraphim, amongst others, he was flown to the United States for the treatment of diabetes and other ailments. He returned to the country a month later. Before his death on Monday, Baba Suwe had been a victim of death rumours. In 2020, it was widely speculated that he had passed on but the actor debunked it. Born on August 22, 1958, in Lagos, the cause of his death was still unknown at the time of filing this report. His son however said burial details would be shared soon.

TUESDAY, ͺͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

HERE FOR BUSINESS? OPPORTUNITIES ABOUND... L-R: Chief Executive Oﬃcer, METALWORK, Russia, Ivan Klevtsov; Chairman, NIDO-Russia, Mr. Sampson Uwen; Nigeria Ambassador to Russia, Prof. Abdullahi Shehu and Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, during the visit of the Russian business trade delegation to the ministry... yesterday.

Insecurity: Nigerians Indebted to Armed Forces for Their Sacrifices, Says Lawan President of the Senate, Dr. Ahmad Lawan, has said the Armed Forces deserved support from Nigerians for the sacrifices made in tackling various forms of insecurity across parts of the country. Lawan made this known yesterday while receiving a delegation of the 2022 Armed

Forces Decorations team at his office in Abuja. According to him, the armed forces in its bid to secure and protect Nigerians against the activities of insurgents and criminals, continue to pay the ultimate price, which has resulted in countless deaths of exceptional military personnel.

He said: “It is important that we appreciate the sacrifices done by our armed forces, especially, those who have been directly affected and their families. “I believe that the same story obtains on the efforts by the armed forces to fight insurgency, militancy, banditry and many other forms of security challenges

within our borders. “Presently, our armed forces are involved on many fronts. What is expected of us as citizens and institutions is to continue to support our armed forces, especially, the legion in whatever way we can. “Therefore, it is an opportunity for us to also make our own

Institute Calls for Federal Law to Harmonise Legislations on Arbitration Dike Onwuamaeze The Nigerian Institute of Chartered Arbitrators (NICArb) has called for a federal law that would harmonise legislations by state governments on arbitration in order to grant such laws wider national application. The NICArb made the statement in a communiqué at the end of its, 2021 annual conference and investiture award ceremony with the theme: “Disruption and The New Normal in Arbitration/ ADR- A Way Forward.” The communiqué issued by the Registrar/Chief Executive Officer of NICArb, Shola Oshodi-John, identified the need for statutory reform of the Arbitration and Conciliation Act (ACA), with the specific goal of narrowing the scope of the courts’ intervention in the arbitration process. It said: “There is a need for statutory reform to the ACA with the specific aim of narrowing the scope of courts’ intervention in the arbitration process. “Even though the most recent arbitration statute in Nigeria, the arbitration law of Lagos State 2009, has attempted to address some of the challenges encountered in the enforcement of foreign arbitral awards in Nigeria, it is only applicable in Lagos State. “Other recommendations on enforcement of arbitral awards are the enactment of uniform rules of court for arbitration across the country; as well as legislative action that will harmonise the limitation on laws enacted by state governments.” It also called for, “compulsory training in arbitration for lawyers and judges starting from law school and making it compulsory continuing legal education for both

lawyers and judges.” The communiqué stated that the emergence of Lagos State as a hub for arbitration processes both internationally and domestically would enhance investors’ confidence and boost investment and investor’s confidence. “The Lagos State government has intensified efforts to make Lagos State a hub for arbitration processes both internationally and domestic. This will assist to guarantee investors that their investments are safe and guided by the rule of law and by so doing, boost investment and investor’s confidence. “Unlike litigation, arbitration presents a new frontier in today’s evolving world and this represents the future which Lagos State has embraced and as theme of the conference shows, we are in the new normal which shows that potential technology is not destructive to the rule of law but an enabler to increase access to justice.” The NICArb also observed the need to pay attention to digital evidence by making the rules and process of arbitration in Nigeria to conform to the emerging digitalisation of economy. It added: “There is a need to understand the underlying concept of the digital economy and there are certain types of technology that go beyond the digital technology such as artificial intelligence, block chain, cloud computing and peak data. Those four things are changing the dynamics of the economy and dispute resolution must adapt to this change. “The future of arbitration and the future of the world are remote, decentralised and digital. This means there is a fusion for in person and virtual experience referred to as a hybrid and that is the future

of arbitration proceedings.” It, therefore, added that the, “rules applicable to arbitration in Nigeria needs to pay attention to digital evidence itself because when platforms for commercial activity changes and everything literally becomes digital, it would shape the future. “From this point on, evidence and all that comes to the arbitration platform will change such as how to gather evidence, preserve evidence and present evidence.” The communiqué also stated that the African Continental Free Trade Agreement (AfCFTA) would provide another opportunity and huge prospect for arbitration and

other ADR practitioners to take the centre stage and ensure dispute settlement among state parties are resolved with efficient, rule based transparent approach and promoting virtual proceeding is definitely the way to go despite the complexities of such cases. “The NICArb’s global network and indeed that of other African countries means that it can develop and implement localised strategies for meeting these goals. Working collectively these countries can accomplish each of these strategies, aims and continue its rightful place as the world class certification and professional body for dispute avoidance and management.”

contribution to this annual and very important event of remembering our armed forces.” Lawan added that the National Assembly on its part would support the military by ensuring that sufficient funds were appropriated to cater for security in the 2022 budget under consideration by the legislature. “I want to commend our armed forces for working so hard with so little to fight different shades of insecurity in our country. As a Parliament, we are very conscious of one fact, that given your commitment to fighting for the security of this nation and our people, we must continue to provide significant resources to our armed forces for them to be able to do better than what they are doing,” the Senate President said. He, however, on behalf of the upper chamber, donated the sum of 5 million to the fallen heroes, while he gave the Nigerian Legion N500,000 in his personal capacity. Earlier, leader of the 2022 Armed Forces Decorations Team, Major General Abdulmalik Jibril (Rtd), said the team decided to pay a visit to the Senate President in accordance with a directive given by President Muhammadu Buhari during the armed forces

remembrance day celebration. Jibril, who is the National Chairman of the Nigerian Legion, added that the visit was also intended to solicit support for the cause of the fallen heroes of the Federal Republic of Nigeria. Those on the delegation included Secretary General Nigerian Legion, Group Captain Kayode Abe (Rtd); President, Military Widows Association of Nigeria, Mrs Gift Veronica Aloko; and Deputy Director (Veteran Affairs), Defence Headquarters, Brigadier General Sunday Makolo; Others were Board of Trustees member, Military Widows Association of Nigeria, Dr. Aisha Lemu; Mr. Thompson Ahuchaogu of the Ministry of Defense and Jane Iworisha. The leader of the decorations team, thereafter, decorated the Senate President, with the Armed Forces Remembrance Day emblem. Senators also decorated were the Deputy President of the Senate, Ovie Omo-Agege; Senate Leader, Yahaya Abdullahi; Senate Minority Leader, Enyinnaya Abaribe; Deputy Majority Leader, Ajayi Boroffice; Deputy Minority Whip, Abdullahi Danbaba; and Chairman, Committee on Appropriations, Barau Jibrin,

Wike: Bunkering Unstoppable Because Military, Police, Civil Defence Are Involved Top officers aid oil theft Blessing Ibunge in Port Harcourt Rivers State Governor, Mr. Nyesom Wike, has said the fight to stop crude oil theft has continued to fail, because top ranking officers of the military, police and the Nigeria Civil Defence Corps (NCDC) were involved in the illegal activities. Wike stated this yesterday, when he hosted the Chief of Air Staff, Air Marshall Isiaka Oladayo Amao on courtesy visit at Government House, Port Harcourt. He urged the Nigerian government to consider the

damage caused by activities of crude oil thieves to the economic mainstay of the country and treat them as treasonable offenders. The governor noted that it was not only the wastage of the economy that was witnessed, but the degradation that the environment also suffered, which also impacted negatively on rural communities in the State. "You know this bunkering cannot stop; let's be serious about it, everybody is involved. The military is involved. Police is involved. The Nigeria Civil Defence Corps is involved. If not, there is no way bunkering can continue. It's a terrible thing.

"I don't know whether we should take the issue of bunkering to even be more serious than treason. If you go around and see what has happened to our environment, you'll have pity on us," he said. The Rivers governor, however, wanted members of the military taskforce deployed to arrest the illegal oil bunkers to find a better and environmentally friendly way to destroy bunkering sites in the state. In his speech, Amao said he was on operational visit to 115 Special Operation Group in Rivers State and decided to pay courtesy visit to the governor, whom

he claimed had contributed immensely to the functioning of their base in Port Harcourt. "We commend you for being able to contain the security situation in the state. Rivers State has been a very peaceful state. That is why, most times, I and the service chiefs have to focus on other places with much problems. "The governor is able to achieve this state of peace, because, and from the brief I got from my officer, he has been a very good coordinator and also assisted the security agencies in the discharge of their duties," he said.

TUESDAY NOVEMBER 23, 2021 ˾ T H I S D AY

NEWS XTRA

Niger Police Arrest Spiritualist, Four Suspected Bandits Laleye Dipo in Minna The Police in Minna Niger State yesterday announced the arrest of a spiritualist to bandits and four suspected bandits in its ongoing war against criminal elements in the state. The spiritualist, one 50-year-old Samaila Umar, was arrested in Gusase village near Maikunkele in the Bosso Local Government Area on Sunday. Samaila, according to a police statement made available to newsmen, claimed that the spiritualist was a consultant to bandits who have been hibernating between Niger and Nasarawa states and the Federal Capital Territory. The last spiritual consultancy reportedly given to bandits was on Sunday, the statement said, adding that the terror gang was given assurance that they will successfully raid and kidnap worshipers at Buku village near Abaji in the FCT. The statement said the suspect also “promised to pray for the release of a suspected bandit known as ‘JULLI’ currently in Police custody

at Abuja.” The police further said that the four suspected bandits whose names were given as Abubakar Alhaji Buba,

27-year- old, Shehu Mallam Jare, 20-year-old Abubakar Garba, aged 44-year-old and Abubakar Na’Allah, age 25 years, were arrested at Maijaki

forest near Lapai and Rafindaji forest along the boundary of Niger and the FCT . 40 cows and 15 sheep were also recovered from the

suspected bandits. The suspects, according to the statement, claimed they were rearing cattle in the said forests but could not give

satisfactory account of the cattle in their possession. The police say the case will be investigated and the suspects charged to court soon.

WINNING SOULS…

L-R: Resident Pastor, The Redeemed Evangelical Mission (TREM) Headquarters, Bishop Peace Okonkwo; General Overseer, The Redeemed Christian Church of God, Pastor Enoch Adeboye, and Presiding Bishop, TREM, Bishop Mike Okonkwo at the TREM Kingdom Life World Conference 2021 in Lagos....recently SUNDAYADIGUN

Bandits Kill Four Unlawful Detention: Court Orders Service Farmers in Katsina Warrant on IG, AGF Francis Sardauna in Katsina

Four farmers have been killed by bandits in Barawa community in Batagarawa Local Government Area of Katsina State following fresh onslaught on the community by the hoodlums. The bandits, according to the residents, stormed the community on Sunday night at about 9.pm and started shooting sporadically where they killed the victims on the spot. One of the residents, Sefiyanu Umar, who confirmed the invasion to THISDAY on Monday in the community, said the bandits injured three other persons in the area. He said: “The bandits attacked our community yesterday (Sunday). They didn’t kidnap

anyone but killed four people including three men and an elderly woman. They also wounded three persons and rustled 300 animals. “We buried the four people killed by the bandits this morning (Monday). They looted all the shops in the community and robbed one Malam Bello Musa of N400,000”. Confirming the incident to journalists, the state Commissioner for Sports and Social Development, Sani Danlami, said the state government has provided relief materials to the families of those killed and those injured. He said: “We had donated N50,000 each to those injured, while N50,000 and bags of rice have also been provided to the families of those killed”.

WAEC Releases WASSCE Result, Records 81.7% in English, Maths Funmi Ogundare

The West African Examinations Council ( WAEC), yesterday announced the release of the results of candidates that sat for the West African Senior School Certificate Examination (WASSCE)2021 with a total of 1,274,784 candidates, representing 81.7 per cent obtaining credits and above in a minimum of five subjects, including English Language and Mathematics, out of the 1,560,261 candidates that sat for the examination. The Nigerian Head of National Office ( HNO) of WAEC, Mr. Patrick Areghan who briefed journalists in Lagos, said out of the number, 630,138, (49.43 per cent), were male candidates, while 644,646 (50.57 per cent) were female candidates. He explained that the percentage of candidates in this category in the WASSCE for school candidates in 2020, for those who obtained credit and above in a minimum of five subjects, including English

Language and Mathematics, was 65.24 per cent, saying that there is an appreciable 16.46 per cent improvement in performance in that regard. He said a total of 1,573,849 candidates registered for the examination from 19,425 recognised secondary schools in the country, adding that the examination was also administered to candidates from some schools in Benin Republic and Cote d’Ivoire, where the Nigeria curriculum for senior secondary school is being used. “ Schools in Equatorial Guinea could not present candidates for the examination due to logistic challenges posed by COVID-19, “the HNO said. The analysis of the statistics of the performance of candidates in the examination shows that out of the 1,560,261 candidates that sat for the examination, 1,398,370 candidates, representing 89.62 per cent obtained credit and above in a minimum of any five subjects (i.e with or without English Language and/ or Mathematics).

Alex Enumah in Abuja

Justice Inyang Eden Ekwo of the Federal High Court, Abuja yesterday ordered the service of the warrant of release issued in favour of two Nigerians detained by Police since October 5, 2021, on the Inspector General (IG) of Police, Usman Baba Alkali, Attorney General of the Federation (AGF), Abubakar Malami and four others.

The order of service was sequel to the refusal of the police to obey the order of the court on the release of the detainees. Justice Ekwo had on November 5, 2021 ordered the IGP, the AGF, Joseph Egbunike (DIG) and the Deputy Inspector General of Police, Force Criminal Investigation Department (FCID), Abuja to immediately release one Jude Osuhor and Happiness Edifie who have been in custody at

the FICID, Abuja since October 5 this year. However, as at yesterdays proceedings, the detainees were still in custody without a valid court order or charges filed against them. When the matter was called, detainees’ lawyer, Mr Jibrin Okutepa (SAN), drew the court’s attention to the federal government’s refusal to comply with its order. Okutepa, who sounded bitter,

complained to the court that the IGP and other respondents in the fundamental rights enforcement suits by his clients had been served with the court’s November 5 release order, but that they have disregarded the order. He said although the case was adjourned for hearing, the respondents refused to obey the court’s order to release the two detainees and also refused to appear in court.

Sit-at-home: Anambra Records Skeletal Economic Activities David-Chyddy Eleke in Awka

There were skeletal economic activities in Anambra State yesterday despite repeated directive by the state government to indigenes and residents to ensure that everything returns to normalcy. The state Commissioner for Information and Public Enlightenment, Mr. C. Don Adinuba, had last weekend in a statement called for full

economic activities in the state, reminding all that the Indigenous People of Biafra (IPOB) had long rescinded its decision to ground the South-east region. IPOB on its own had through its Media and Publicity Secretary, Mr. Emma Powerful, pledged to go after the enforcers of the previously, but now suspended sit-at-home order. When THISDAY moved round Awka, the state capital

yesterday, it was observed that though there was improvement in the level of economic activities witnessed in previous Mondays, it could, however, not be said to be viable enough as witnessed on other week days. Banks, markets, motor parks and other business places were seen open for business, but the level of vehicular movement in the town was limited. Some schools also failed to open for educational activities,

just as civil servants were not in their offices, despite threats by the state government. A visit to Jerome Udoji Secretariat, which houses almost all the state government ministries, showed very minimal activities, as only a few workers were seen there. A senior civil servant in the ministry of information, who spoke to THISDAY, attributed absence of workers at their duty post to sheer laziness.

Group Accuses Mimiko of Conniving with Northerners to Undermine Amotekun A group, Yoruba Youth Indigenous Movement (YYIM), has accused the Peoples Democratic Party (PDP) in Ondo State of allegedly propagating a hidden agenda targeted at undermining the operations of the State Security Network known as ‘Amotekun’ for political gains. The Coordinator of the group,

Lawal Adekola, in a statement made available to journalists in Akure, the state capital, alleged that the PDP, through former state Governor, Olusegun Mimiko, has negotiated with some northerners to discredit Amotekun and ensure its operations are weakened by instigating the people against the security outfit.

According to him, “We have watched with consternation, the deliberate attempt to scuttle the gains recorded by Amotekun so far. Let us put on record that we have it on good authority that the PDP, through Mimiko, has negotiated off Amotekun for political gains. “Despite our collective desire to produce the next president

of the country in the South, Mimiko has been going round scheming on how to emerge as a vice presidential candidate of the party, thereby indirectly selling us out. More so, the operations of Amotekun have been a huge success so far and it is now considered a public good, irrespective of political party or background.”

65 -year-old Man Caught with Drugs, Ammunition in Delta Sylvester Idowu in Warri Security operatives of the Delta State Police Command have arrested a 65 years old man, Mr. Solomon Udanya, for allegedly being in possession of 130 rounds of live cartridges. The suspect, who was apprehended last Friday, was also caught with a single barrel

gun as well as three packets of tramadol, six bottles of codeine and various contraband drugs. Delta State Police Command Public Relations Officer (PPRO), Edafe Bright, in a statement he issued yesterday, said the arrest, last Friday at about 4.30 p.m., was a result of continuous raid on black spot and criminal hideouts in the state.

According to him, “on 19/11/2021 at about 1630 hrs, operatives attached to the command’s crack squad in total compliance with the directive of the Delta State Commissioner of Police on continuous raiding of black spot/criminal hideouts acted on intelligence gathered over a period of time and raided

a criminal hideout at Emevor Community in Isoko North LGA and arrested one Solomon Udanya ‘m’ aged 65yrs. “The following exhibits, One hundred and thirty rounds live cartridges, one single barrel long gun; three packets of tramadol; six bottles of codeine and various contraband drugs were recovered from the suspect.

TUESDAY NOVEMBER 23, 2021 ˾ T H I S D AY

NEWS XTRA

Alleged N5bn Fraud: Arraignment of Senator Oduah Suffers Another Setback Alex Enumah in Abuja

The scheduled arraignment of the Senator Representing Anambra North, Senator Stella Oduah, before a Federal High Court in Abuja for the sixth consecutive time, suffered yet another setback on Monday.

The Economic and Financial Crimes Commission (EFCC) is seeking to arraign Oduah, who is also a former Aviation Minister under former President Goodluck Jonathan, over an alleged N5 billion fraud. The lawmaker and eight others were scheduled for

‘Corruption, Mushroom Varsities Hindering Global Ranking of Tertiary Education System’ FunmiOgundare The Executive Secretary, Tertiary Education Fund (TETfund), Prof. Suleiman Elias Bogoro, yesterday attributed corruption in the public university system and the high number of mushroom universities as some the factors hindering the performance of Nigerian universities in the global ranking of world universities. Bogoro who disclosed this at a two- day workshop on requirements for strengthening Nigerian universities for higher global ranking, in Lagos, listed other factors inhibiting it to include; poor attitude of Nigerian lecturers to teaching and research, large numbers of students at the undergraduate level and limited financial and physical resources, poor investment by some arm of government in the development

of universities. According to him, others include decaying infrastructure, low research out-puts, low performance on international linkages and collaborations, loss in quality of faculty due to brain drain of lecturers and brilliant students to foreign institutions. He described the situation as very unfortunate and worrisome saying that it calls for reflection and action on the part of the government, the Nigerian intelligentsia and the Nigerian people as a whole. “It is challenging in the sense that the success of our universities is tied to the progress and development of the nation,” he said, adding that if the Asian countries were able rise to such enviable place along the ranking of world universities, nothing stops Nigerian universities from making similar progress if they are so determined.

arraignment before Justice Inyang Ekwo yesterday, November 22, however, the arraignment could not go on following some observations by her lawyer. When the matter was called, the senator and three others were to enter into the dock for their pleas before counsel to 7th and 8th defendants, Ogwu

Onoja (SAN) objected to the arraignment on the grounds that his clients are being persecuted by EFCC. The senior lawyer insisted that the aggrieved defendants had petitioned the Attorney General of the Federation (AGF), Mr. Abubakar Malami (SAN), seeking for a review of the charges against them.

Ogwu informed Justice Ekwo that the AGF upon receipt of the petition, wrote the executive chairman of the EFCC to remit the case file to his office for a review, adding that in flagrant disregard to the AGF’s letter, the EFCC had bluntly refused to remit the case file to the AGF. He tendered certified true copy of the AGF’s letter as

received by the EFCC chairman and urged the court not to go ahead in the arraignment until the petition has been resolved in the interest of justice. However, counsel to EFCC, Mr. Ofem Uket, denied knowing anything about the AGF’s letter adding that as a staff of EFCC, he was just sighting the letter for the first time in court.

Fashola Calls on Nigerians to Support Armed Forces Emmanuel Addeh in Abuja The Minister of Works and Housing, Mr. Babatunde Fashola (SAN), yesterday called on Nigerians to support the country’s armed forces and preserve the memory of those who died defending the nation. He urged Nigerians to join hands with government to promote peace and security in the country, saying that doing so

would mean that the sacrifices made by the fallen heroes were not in vain. Fashola, who spoke at the headquarters of the ministry where he was decorated with the 2022 Armed Forces Remembrance Day Emblem, explained that the promotion of peace did not necessarily mean the absence of conflicts and disagreement, but the resolution of those conflicts

before they degenerate. “As human beings with our diversity, we could have so many conflicts and disagreement, but those conflicts must not lead to violence or lead to clashes. Those conflicts must be resolved before the day is over and this is the job that is everybody’s responsibility, not only those in government but to all Nigerians”, he said. He pointed out that if all

Nigerians chose to live together the issue of conflict resolution would be an easy task. “And the less conflict we have, the less people who will have to lay down their lives to bring such conflicts to an end and the less widows and widowers and orphaned children we will have; and the more that happens daily, the better our country will be,” he added.

FG Launches National Egg Production Scheme in Kogi Ibrahim Oyewale in Lokoja The federal government through the Federal Ministry of Agriculture and Rural Development yesterday inaugurated the National Egg Production (NEGPRO) scheme in Kogi State, with aim to boost poultry farming across the country.

While speaking at the inauguration in Lokoja, the National Poultry Desk Officer, Department of Animal and Husbandry Services of the ministry, Mrs. Vivian Ibe, said the scheme was aimed at creating awareness and boosting egg productions nationwide. She explained that the essence of the scheme was to create

awareness aimed at strengthening egg production, its marketing and utilisation capacity of poultry products in Nigeria. The desk officer noted that the national egg production scheme was a five-year programme with its target to promote economic development, income, livestock and job opportunity in Nigeria. She added that the scheme

was expected to produce about 500,000 table eggs daily for local consumption, export and processing into egg powder for use in confectionery and pharmaceutical industry. Ibe said the scheme would equally focus on the stakeholders’ engagement towards piloting, facilitating and coordinating egg production.

TUESDAY, ͺͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

TUESDAYSPORTS

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

0811 181 3083 SMS ONLY

Osimhen’s AFCON Appearance for Super Eagles Doubtful AFTERMATHS OF CHEEKBONE INJURY Femi Solaja With less than 45 days to the kick off of the 33rd Africa Cup of Nations (AFCON) tournament in Cameroon next February, the certainty of Super Eagles’ in-form striker, Victor Osimhen playing for Nigeria at the biennial event is now in doubt following reports of the cheekbone injury he sustained last Sunday in Napoli’s defeat at Inter Milan. The Nigerian goal poacher, laboured in vain as Napoli suffered their first defeat of the season in the 3-1 away loss. Osimhen was substituted in the 55th minute after he got injured in the collision with Inter Milan’s Skriniar. But Napoli in a statement yesterday said Osimhen may be out for up to six weeks depending on how he recovers fast from the surgery expected to be carried out any moment. “The instrumental tests carried out on Victor Osimhen at the ed of the Inter-Napoli match revealed displaced fractures of the orbit and of the left cheekbone,” said in the club’s official website. “The player will undergo surgery in the next few days and will remain under observation at the Niguarda Hospital in Milan,” the statement further said. Napoli Manager, Luciano Spalletti in an interview with Football Italiaalso confirmed that the player is likely to stay

a longer time off the game because the medical team will want to put him under close observation and the technical crew will not be in a rush to return the Nigerian star back into the mix. “He has been taken to hospital for test and there are fears he might have fractured his cheekbone. He is a hard working player but the way he threw himself in the air may have aggravated the impact. All the same we are with him. If he chases everyone, we have to adjust to chase him and it becomes a constant sprint to keep the team tight. “He has a swollen eye and could not see very well, so he need tests. The swelling went up around his eye and hope it is a bruise. I hope,” the coach further observed. Osimhen so far has scored five goals for the club and is the leading scorer for the national team since AFCON 2019 tournament where he placed only one match when he substituted returnee, Odion Ighalo in the second half of the classification match against Tunisia. However, with Oghenekaro Etebo still recuperating after injury playing for Watford two months ago, the depth of the Super Eagles would be greatly affected should Osimhen be ruled out of the tournament January 9 in Cameroon where Nigeria will play against Egypt, Sudan and Guinea Bissau.

Aruna Quadri Leads African Stars to Houston ITTF WORLD CHAMPIONSHIPS The African contingent to the 2021 ITTF World Table Tennis Championships will today begin their campaigns in the Singles events of the tournament. Africa will be represented by a contingent of 17 players led by her best players Quadri Aruna and Omar Assar at the championships. They are to compete against the best in the world in all categories including the men and women’s singles, men and women’s doubles and the mixed doubles following the draws ceremony held on Sunday. Africa’s top ranked player, Quadri has been drawn to face 152nd ranked Belarusian Aleksandr Khanin in the first round and having reached the 3rd round in 2019 where he lost to world No.1 Fan Zhendong in Hungary, the 13th seed will be hoping to break the 3rd round jinx at the championships Omar Assar has worked his way up in the world ranking to 29th this year after successfully reclaiming the African title at the 2021 African championships in Cameroon. However, the inform Egyptian has an arduous task in the first round against doubles specialist

and 2018 Polish Open champion LIM Jonghoon. World Table tennis championship debutant Ibrahima Diaw who has Sweden’s Jon Persson to contend with in the first round has hinted that he’s in Houston to enjoy his table tennis by taking it one match one at a time and take in the excitement in America. Other fixtures include; Omotayo Olajide (NGR) will square up against Gustavo Tsuboi of Brazil while Bode Abiodun also of Nigeria will take on Amalraj Anthony of India. Leading the charge in the women’s singles is 3-time African champion Dina Meshref, despite having a difficult year on the continental scene, the Egyptian is Africa’s biggest hope in the women’s draw. Dina will kick start her journey in Houston against Mateja Jeger of Croatia in first round before partnering Omar Assar for the mixed doubles. While women’s doubles partners - Yousra Helmy and Farah Abdel-Aziz have drawn Margaryta Pesotka and Ayhika Mukherjee of India respectively.

Injured Napoli forward, Victor Osimhen (second left), being led oﬀ the San Siro ground by Para medics ....last Sunday

Aminu Wins 60th FirstBank Lagos AmateurOpenGolfChampionship The 60th edition of the FirstBank of Nigeria Limited sponsored Lagos Amateur Open Golf Championship came to a thrilling end at the Golf Section of Ikoyi Club 1938 on Sunday with Aminu Kadir of Ilorin Golf Club emerging winner. To emerge top in the competition, Aminu grossed a score of 14-over the Course par, playing over 54 holes to clinch the event’s coveted trophy, leaving the tournament defending champion, Tajudeen Ajayi of the golf section of Ikoyi Club 1938 in the second position. In the third position was 2019 top-ten finisher, Gabriel Ejembi while Olusegun Emmanuel with gross score of +17 ducked in the fourth position. Shola Ogunwoye maintained his consistency in the Lagos Open with another top-five finish. But the 60th anniversary celebration of the Lagos Open was more about Aminu, the Champion, who now eyes professional career in golf. “My target now is the Qualifying School and I believe I will make it. That is my ambition. My victory has further given me the conviction that I will make it through Qualifying School”, Aminu said. The special 60th anniversary celebrations of the Lagos Open also had past winners who are now Professional on the Course.

Sam Njoroge from Kenya, Nigeria’s top seed, Andrew Oche Odoh, Willy Gift from Port Harcourt, were some of the professionals who took part in the competition. Gift won in the category after 4-holes playoff with Njoroge. FirstBank’s Chief Executive Officer, Adesola Adeduntan, who

was represented by Callistus Obetta pledged the bank’s continuous support for golf, saying its support golf and other sporting activities stems from the understanding that it is a major unifying force for individuals and communities, defying language, culture, religion, beliefs and social strata.

Other highlights of the fourday event was the donation of an Ambulance to Ikoyi Club 1938, N5.1m donation to Down Syndrome Foundation and Pacelli School for the Blind which also got N5.1m as part of the special anniversary celebrations of the famed Lagos Amateur Open Golf Championship.

L-R: Group Executive, Retail Banking Lagos & West, FirstBank, Tunde Owolabi;, Group Head, Marketing & Corporate Communications, Folake Ani-Mumuney; Winner of 60th Lagos Amateur Open Championship, Aminu Kadir, and Callistus Obetta, Group Executive, Technology & Services, at the FirstBank 60th Lagos Amateur Open Golf Championship ﬁnals held at Ikoyi Club 1938 ....last Sunday

TUESDAY, ͺͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

Lagos Hauls 39 Medals as 1st S'West Para-Athletics Championship Ends

Romelu Lukaku (on the turf) has not played since injuring his ankle in Chelsea’s defeat of Malmo on November 2. He’s likely to start from the bench today if given the go-ahead by medics at Stamford Bridge

Team Lagos athletes raked in 39 medals at the just concluded three-day maiden edition of the regional Para-Athletics Championship, held at the mainbowl of the Teslim Balogun Stadium, Surulere, Lagos State. Team Lagos came first, winning 9 gold,15 silver and 15 bronze medals, while Ogun State placed second with 7 gold, 7 silver and 3 Bronze medals; Oyo State won 5 gold medals,2 silver medals and 1 bronze medal to place third. Ondo State had 4 gold, 0 silver, and 3 silver medals while Ekiti State won 3 gold medals,1 silver and 0 bronze. Osun State settled for nil gold, 3 silver and 2 bronze medals.

Lukaku Doubtful for Chelsea as Juventus Visit Stamford Bridge Chelsea Manager Thomas Tuchel will take a late call on including striker Romelu Lukaku for their Champions League group game with Juventus, but said on Monday that midfielder Jorginho was fit after coming off against Leicester City at the weekend. Lukaku has not featured since injuring his ankle in their 4-0 win against Malmo last month, but was expected to return to action against the Italians on Tuesday. "Not sure yet (about Lukaku).

CHAMPIONS LEAGUE He seemed okay in training yesterday, we'll see about the reaction. He has an appointment with the doctors and physios... the last minutes would be the absolute maximum," Tuchel told reporters. "Jorginho is absolutely okay. Kai (Havertz) had a hamstring problem so we took him off and we have some doubts. This is more or less the question mark." Holders Chelsea, who were

beaten in the reverse fixture in September, trail leaders Juventus by three points after four games in Group H. The London side need to avoid defeat at Stamford Bridge to confirm their place in the round of 16. "We'll not risk our qualification and go all in if the situation (with Lukaku's injury) is like this, but we'll try everything to win the group and to do this, we have

Will Villarreal Compound Man Utd’s Problems Tonight? New Manchester United’s interim Manager, Michael Carrick, is a Champions League winner with the Red Devils in his 12 years sojourn at Old Trafford as a player. But this evening, Carrick who has been put in temporary charge of United following the sacking of Ole Gunnar Solskjaer on Sunday, will realize that the pressure of a player is different from that of the manager whose table the buck stops. Playing against the same Spanish team that denied Solskjaer the Europa League trophy the last term, thunder may strike two times tonight if Villarreal win the clash Group F game and third placed Atalanta defeat Young Boys by wide margin. Presently, both United and Villarreal are tied on

Michael Carrick...baptism of a sort in the UEFA Champions League tonight seven points with third placed Atalanta on five. Defeat will leave United on same seven points while a draw lift them to eight points.

Atalanta can match the eight points depending on the goal margin against the Swiss team. Not only do United head to Spain without a manager, they are also without a win in three matches. Since beating Villarreal at Old Traffordon 29 September thanks to Cristiano Ronaldo's 95th minute winner, the Red Devils have won just two matches out of eight. If the top two teams are tied on points, points in head-to-head matches between the tied teams will be used to determine who finishes top. Having already beaten Villarreal this season, United will qualify for the knockout stage if they win in Spain, or if both games in the group are drawn.

Heineken Lights up Champions League Nights as Teams Battle for Round of 16 Tickets Four teams have already qualified for the UEFA Champions League Round of 16 but a couple more will be joining the quartet as Matchday 5 fixtures are played across Europe this week. Heineken, proud sponsors of the competition for over 25 years will be delighting football fans across the world and especially in Nigeria in their unique way as the boys will get to be separated from the men in the world’s most prestigious club competition, Leading the chase for a place in the knockout phase on matchday 5 are Premier League leaders, Chelsea. The Blues will be through to the round of 16 if they do not lose to Juventus or if Zenit does

not beat Malmö. On their part, Juve already have their legs firmly in the knockout phase and only need a draw to finish top in Group H. Starting out under the reign of new managers, Barcelona and Manchester United have their destinies in their hands and would be progressing to the knockout phase with victories over Benfica and Villarreal respectively. Though there are a couple of other scenarios that could earn Barca and United a spot in the last 16, winning their matchday 5 fixtures will be their best bets. Manchester City will also go through if they avoid defeat against PSG or if Club Brugge

fail to beat Leipzig. City will be confirmed in first place if they win. For PSG, they will go through if they beat City, or if they draw and Club Brugge do not beat Leipzig, or even if they lose to City and Club Brugge also lose. Porto with Nigerian defender Zaidu Sanusi will go through if they beat Liverpool and Atlético lose to Milan. Both Atlético and Milan must win to stay in contention to progress to the next phase. While the fixtures are tricky and the outcome unpredictable, fans are guaranteed maximum enjoyment as Heineken continues with its reflective theme titled ‘You’re Never Watching Alone’.

to win the game," said Tuchel. The German, however, said he had enough options to make up for the absence of the Belgium international, especially with forward Timo Werner back in the squad after a lengthy spell on the sidelines. "We always had the options. It's on the players. When they're needed and when they have the chance to show their potential, they need to... be ready. That's life at Chelsea... this is what they do in a very impressive way," Tuchel said.

TODAY Dynamo Kyiv v B’Munich Barcelona v Benfica Villarreal v Man Utd Young Boys v Atalanta Lille v Salzburg Sevilla v Wolfsburg Chelsea v Juventus Malmo v Zenit

The competition is aimed at supporting people living with disabilities, especially at the grassroots level. Speaking at the closing eremony of the three-day event, Executive Chairman, Lagos State Sports Commission, Sola Aiyepeku, revealed that the whole idea is about inclusion of all in sports. "We brought in the women, now we have stepped up to make sure that the physically challenged have their own platform, and this is just the first. "This is a clear statement from Lagos showing that, it's not only about getting reward, it is about giving them the regular competitions so that they can improve and do it better for Nigeria". Director General, Lagos State Sports Commission, Oluwatoyin Gafaar, said the initiative is in line with the "THEMES" agenda of Gov Babajide Sanwo-Olu which includes bringing both male and female, able and physically challenged athletes for sports development. He disclosed that to develop sports in Lagos State and the South-west, Lagos needs to take the lead role and that was the reason for the maiden Southwest regional championship. Chairman, Lagos State Para Athlethics Association, Rafiu Olawale Etti, stated that the motive behind the competition is to create an enabling environment for the athletes to showcase their talents and to encourage mass participation of people living with disabilities in sports.

Tuesday November 23, 2021

UT H

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Price: N250

MISSILE LPG Marketers to Timipre Sylva “Majority of LPG consumers are reverting to kerosene, charcoal and firewood. The nation has to be saved from the impending social upheaval consequent upon the LPG getting out of the reach of the masses, whose disposable income can no longer afford the purchase of even firewood to cook, despite the obvious health and environmental implications” –– Executive Secretary, Nigerian Association of Liquefied Petroleum Gas Marketers, Bassey Essien, bemoaning the current astronomical cost of cooking gas in the country.

TUESDAY WITH REUBENABATI abati1990@gmail.com

Amnesty for Nnamdi Kanu I

a recent interview with Arise TV, the Attorney General of the Federation, Abubakar Malami, SAN had indicated that the Federal Government of Nigeria may consider a political solution to the matters involving Mazi Nnamdi Kanu, leader of the proscribed Indigenous Peoples Organisation of Biafra (IPOB) and Sunday Igboho, the selfdetermination, Yoruba Nation activist, currently in custody and on trial in Benin Republic. But only if an approach in that direction was proposed to the Federal Government. It is therefore not surprising that within two weeks after this declaration, a delegation of Igbo elders led by 93-year-old statesman, former Minister of Aviation in the First Republic, Chief Mbazulike Amaechi, the trade unionist known as “The Boy is Good”. Known as the Highly Respected Igbo Greats, the delegates included former Anambra State Governor, Chief Chukwuemeka Ezeife, Bishop Sunday Onuoha of the Methodist Church, former President of Aka Ikenga, Chief Goddy Uwazurike and Tagbo Amaechi. Chief Mbazulike Amaechi, speaking on behalf of the Igbo Greats (representatives of Igbo Greats actually because there are so many of them across the globe), pleaded for amnesty for Nnamdi Kanu. This request must have been made in full knowledge of the fact that a political solution is indeed possible under the circumstances, as opposed to a strictly legal or authoritarian approach, and that whereas the former could result in healing, reconciliation, a sense of justice and accommodation, when in the past the Nigerian government relied on authoritarian and heavy hand choices, the country ended up paying a heavy price. Remember the trial and murder of Ken Saro Wiwa in November 1995. Against all counsel to the contrary, the Abacha military junta went ahead and killed Ken Saro Wiwa on November 10, 1995. Nigeria has not yet recovered from that error of judgment. Decades after, the world continues to memorialize Ken Saro-Wiwa and the ideals for which he lived, fought, and for which he ultimately paid the supreme sacrifice – the rights of the Ogoni people to self-determination, their right of control over their own resources, and the need to sanction the abuse of the environment by the oil multinationals. In contrast, the men who ordered his death, those who danced on his grave are either dead or forgotten, their legacy a faint memory of shame, and evil. Saro-Wiwa was a champion of his people’s rights to be treated fairly and justly. He was President of the Movement for the Survival of the Ogoni People (MOSOP). The Nigerian state, like a colonial overlord, deployed divide and rule tactics among the Ogonis. Ken Saro-Wiwa was turned into the fall-guy and scapegoat in the unfolding spectacle of intra-fratricidal conflict. For those who remember history, this is a fairly, contemporary cautionary tale. Leaders who wish to avoid the mistakes of history must first appreciate the value of it not merely as narrative but as a source of learning and wisdom. We are not in a position to teach history to President Buhari’s guests nor to the President himself who have all been major witnesses to Nigerian history and indeed architects of it, each in his own way. President Buhari’s response was loaded, rather cautiously, he gave nothing away. The best that the Igbo Greats went home with was the promise that he would consider their rather difficult request. Hear him: “You have made an extremely difficult demand on me as leader of this country. The implication of your request is very serious. In the last six years, since I became President, nobody would say I have confronted or interfered in the work of the judiciary…The demand you made is heavy, I will consider it…” The meeting with the Igbo Greats on the matter of Nnamdi Kanu is perhaps the most noteworthy attempt in that regard so far. It was initiated and led by

Kanu

persons who were not seeking any immediate political gain. If that meeting had been led by politicians or state Governors, nobody would have taken them seriously. But can the President grant the Amnesty? Yes, he can. And there is a precedent in that regard. The President’s powers to grant Amnesty, otherwise described as the prerogative of mercy, exist under Section 175 (1) of the 1999 Constitution. Section 175 (2) and (3) define how such powers may be exercised. This section of the law was applied in the Henry Okah case in 2008/9. Okah, based in South Africa, was identified as a major leader of the then notorious Movement for the Emancipation of the Niger Delta (MEND). The group, fighting for the rights of the people of the Niger Delta, kidnapped foreign oil workers, destroyed strategic oil installations and posed a threat to the economic interests of the country. Okah was arrested in Angola and deported to Nigeria in February 2008. He was charged with 62 counts of treason, terrorism, illegal possession of arms, arms trafficking, with the possibility of a death penalty. Like IPOB today, MEND also had a spokesperson - one Jomo Gbomo. MEND also had a militant wing led by self-styled Generals. In 2009, the then President Umaru Musa Yar’Adua, acting on the recommendations of the Presidential Panel on Amnesty and Disarmament for Militants of the Niger Delta proclaimed Amnesty for Okah and other militants pursuant to Section 175 of the 1999 Constitution. The other ground on which the accused person can be set free is under Section 174 (1-3) of the 1999 Constitution, where the Attorney General of the Federation can intervene in any proceedings in any court of law in Nigeria other than a court-martial, with regard to any offence at all, and either take over the case or discontinue it through the instrumentality of a nolle prosequi. The AGF is required to do so however, in person or by proxy, with “regard to the public interest, the interest of justice and the

need to prevent the abuse of legal process.” Further, the Constitution grants the Attorney General full and express authority here, without recourse to the President but because the offices of the AGF and that of the Minister of Justice are combined under our jurisdiction, the AGF is not just a Chief Legal Officer of the Federation, he is also a political appointee, Cabinet Minister, in his capacity as a Minister of Justice. Hence, he hardly acts independently, without the approval of the President. In effect, under both Sections 174 and 175 of the 1999 Constitution, the Executive arm of government can free or grant amnesty to any accused or convicted person, before, during or after a trial. The argument that this would amount to a violation of the doctrine of the separation of powers is mainly academic. However, there may be other issues of concern that define the President’s circumstances. A notable difference between the request for amnesty by the Igbo Greats seeking amnesty and the MEND case, for example, was that both Henry Okah and the Niger Delta militants in MEND, agreed to the disarmament and amnesty plans as outlined by all parties involved. The second is that the amnesty was not for Henry Okah alone but all militants who were willing to cease hostilities. The long-term effect was the gradual return of normalcy to the Niger Delta and the eventual creation of a Ministry of Niger Delta Affairs. In the recent Igbo proposal, the only name that was mentioned for amnesty was that of Nnamdi Kanu. What about lieutenants and sympathisers of the IPOB cause? Who will plead for them? The “many soldiers of the revolution” languishing in detention centres. Chief Amaechi said of Kanu to President Buhari that if he was released to him, “he would no longer say things he has been saying.” He added that “he could control him not because I have anything to do with IPOB but I am highly respected in Igboland today.” But did Chief Amaechi and the Igbo Greats consult with Kanu and his followers? Were they notified about the visit to Aso Villa? It is culturally acceptable in Africa for elders within the community to step forward to protect their children when they seem to be at war with external forces. It is part of the duty of the “ummuna” to protect its own. There must a proverb for this in one of Chinua Achebe’s novels most certainly! But even the children that need to be saved must be carried along, particularly the children of nowadays. Before now, some other Igbo elders advised IPOB and members of the Eastern Security Network (ESN) to moderate the tone of their self-determination demands. Nobody listened to them. Other elders appealed to the people to ignore IPOB’s declared sit-at-home order in every part of the South East. Even when IPOB came forward to announce that it had vacated the same order, the people stubbornly refused to follow IPOB’s lead. Till today, they stay at home on Mondays. IPOB is a more powerful force in the South East today than any state government. Many Igbo families have stopped going home out of fear. Will the release of Nnamdi Kanu douse tension? More so as

there are some other youth groups and stakeholders who are arguing that Mazi Nnamdi Kanu has not committed any offence and that he should be allowed his day in court and treated fairly. They don’t want any sympathy from the Federal Government. And Ndigbo should not go to Buhari to beg for anything. Same subject, different reactions across generational lines. Who should General Buhari listen to? President Buhari’s hands may also be tied by the realization that the issue of amnesty has become far more sensitive in Nigeria today than when it first became popular in the early part of the century. The scope of its meaning and context has been expanded to cover all kinds of issues: including religion, ethnicity and societal prejudices. We have heard cases of requests for amnesty also by bandits and terrorists, farmers and herders, husbands and wives. Thus, when certain stakeholders in the North asked for amnesty for Boko Haram, the ISWAP, and other members responsible for the tension in the country, the sharp retort was that this would amount to amnesty without justice. If the President is not allowed to grant blanket amnesty to Boko Haram, ISWAP, and herders, why should he grant amnesty to the leader of IPOB? In addition, Nnamdi Kanu violated the terms of the bail previously granted to him. If he absconded a second time and continues to fight for the selfdetermination of their people, which in itself is a right under Articles 1 and 55 of the UN Charter on people’s and civil rights, then, where does that leave Nigeria? Will Ndigbo appreciate the release of Nnamdi Kanu, who they believe was unjustly arrested, in Kenya? And shabbily treated? Will the same Kanu if he were invited by the government, agree to sit down for any negotiations, without first consulting his followers? The times have changed indeed. The same interests involved in the Okah case in 2008/2009, have now been amplified to the third degree. So, what should President Buhari do? He should grant Nnamdi Kanu, Sunday Igboho, their followers and collaborators in different parts of the country amnesty to pave the way for the emplacement of a structure for dialogue, healing, reconciliation and justice. He has a duty to demonstrate that there is no war against the Igbos of Nigeria or any other group within. The big challenge for Ndigbo goes beyond amnesty for Nnamdi Kanu. Jobs for young Igbos. Equity in appointments to Federal positions. Equitable distribution of resources and opportunities. Investment in education in the East. The completion of the River Niger Bridge. The lesson that should be learnt is that no group in Nigeria should be marginalized or maltreated. It is when this is not done that you find many youths on the streets claiming that they are better off in a land-locked independent country of their own than to stay in a Nigeria which flows with milk and honey, the access to which is monopolized by a minority, and that includes the milk and honey in other people’s backyards. President Buhari has his personal issues. As Commander-in-Chief of the Armed Forces, what would he say to his troops that have engaged IPOB and Kanu’s followers in the past few years? The President himself once pointed out that the intention of the radicals of the East was to sabotage his government. The number of security agents and agencies deployed to Anambra during the last Gubernatorial election in that state is in itself, a proof of the government’s determination to do battle with IPOB, ESN or any other group of non-state actors. It is indeed, a difficult decision to make. The President should look into the matter, nonetheless as promised. The Igbo Greats can only nurse the optimism that President Buhari would indeed do so. For how long? Nobody knows. As in Samuel Beckett’s “Waiting for Godot,” we wait.

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