THURSDAY 24TH NOVEMBER 2022 by THISDAY Newspapers Ltd

INECVows to EndVote Buying,Violation of Campaign Finances Identifies four critical areas of concerns to Nigerians Insists no more use of Incident Form, declares BVAS irreversible British High Commissioner explains why 2023 polls are important House steps down motion condemning attacks on INEC offices Chuks Okocha, Onyebuchi Ezigbo, Udora Orizu in Abuja and Victor Ogunje in Ado Ekiti

The Independent National Electoral Commission (INEC), has promised to roll out measures to tackle vote buying at the polling units on

election day in 2023, even as it vowed that violators of laws on campaign finances would be dealt with, frontally.

INEC), which identified four areas of concern to Nigerians as far as the 2023 general election was concerned, identified such

areas as security, campaign finance, technology, the permanent voters’ cards as well as the assurances that their votes would count, ultimately,

on election day. Chairman of the commission, Prof Continued on page 10

Fintechs, Bankers, Policymakers Gather as Financial Inclusion Confab Begins Today... Page 47 Thursday 24 November, 2022 Vol 27. No 10089. Price: N250

www.thisdaylive.com TR

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& RE A S O

We’re Solidly Behind Atiku/ Okowa, Southsouth Govs Declare Chuks Okocha in Abuja and Olusegun Samuel in Yenagoa

L-R: Managing Director, Nigerian Security, Printing and Minting, Ahmed Halilu; Governor, Central Bank of Nigeria, Godwin Emefiele; President Muhammadu Buhari; Minister of State Finance, Budget and National Planning, Clement Agba; Chairman, Independent Corruption Practices and other related Offences Commission, Prof. Bolaji Owasanoye, and Chairman, Economic and Financial Crimes Commission, Abdulrasheed PHOTO: GODWIN OMOIGUI Bawa, at the Launch of the newly redesigned naira notes at the Federal Executive Council meeting held at the Council Chambers of the Presidential Villa , Abuja …yesterday

Governors of the South-south geopolitical zone, yesterday, re-affirmed their “absolute support” for the presidential candidate Continued on page 10

Buhari Excited By New Banknotes, Says Enhanced Security Features‘ll Make Counterfeiting Difﬁcult Maintains initiative will facilitate monetary policy objectives Emefiele: EFCC, ICPC to monitor massive bank withdrawals Reveals N165bn of old banknotes returned Insists anchor borrowers’ programme not exposed to floods Warns against hoarding, arbitrage amid food shortage Deji Elumoye, James Emejo in Abuja; Emma Okonji, Nume Ekeghe and Nosa Alekhuogie in Lagos President Muhammadu Buhari yesterday said the newly redesigned N1, 000, N500, and N200 denominations unveiled by the Central Bank of Nigeria (CBN) had been fortified

with security features that will make them difficult to counterfeit. Buhari also stressed that the redesigned naira denominations would help the CBN implement better monetary policy objectives and enrich the collective memory Continued on page 10

IBOM AIR GETS TWO NEW A320-200 SERIES AIRCRAFT... L-R: (Third from left), Secretary to the State Government, Dr. Emmanuel Ekuwem; Akwa Ibom PDP Governorship candidate, Pastor Umo Eno; Akwa Ibom State Governor, Mr. Udom Emmanuel; Edo State Governor, Mr. Godwin Obaseki; Chairman of Board, Ibom Air, Mr. Imo-Abasi Jacob; COO of Ibom Air, George Uriese; and MD/CEO of Ibom Air, Captain Mfon Udom, during the inauguration of the two new A320-200 Series Aircraft for Ibom Air, at the Victor Attah International Airport, Uyo…Tuesday

THURSDAY NOVEMBER 24, 2022 • T H I S D AY

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

NEWS

STANDING STRONG FOR ATIKU/OKOWA... L-R: Governor Godwin Obaseki (Edo State), Dr. Ifeanyi Okowa (Delta), host, Senator Douye Diri (Bayelsa), and Mr. Udom Emmanuel (Akwa Ibom) during the meeting of the South-South Governors at the Government House, Yenagoa,...yesterday

Governors Drag FG to Court Over 10 National Integrated Power Projects Remain resolute in exploring all legal options in $418m Paris Club refund Chuks Okocha in Abuja The 36 states governors in Nigeria yesterday instructed their lawyers to drag the federal government to court over the Executive Order on the decision to sell the 10 National Integration Power Project. The governors also said they remain resolute on legal options on the controversial $418 million Paris Club Fund. In a communique at the end of the governors’ meeting signed by the Chairman, Nigeria Governors’ Forum (NGF) and Governor of Sokoto State, Aminu Waziri Tambuwal, the governors said, "The Forum following its advocacy that the proposed privatisation of 10 National Integrated Power Projects (NIPPs) by the Federal Government of Nigeria should be stopped, instructed its lawyers to approach the Federal High Court which at present has issued a court order restraining all the parties in the suit from taking any step or action that will make or render the outcome of the Motion on Notice seeking for interlocutory injunction nugatory. "The effect of the Order of the Court is that respondents cannot proceed with the proposed sale of the power plants belonging to the Niger Delta Power Holding Company Limited (NDPHCL) until the hearing and determination of the Motion on Notice for Interlocutory Injunction." Regarding the $418 million Paris Club Refund and promissory notes issued to the consultants by the Federal Ministry of Finance and the Debt Management Office (DMO),

the governors stressed that they remain, “resolute in exploring all legal channels available to it in ensuring that resources belonging to States are not unjustly or illegally paid to a few in the guise of consultancies." According to the governors, sequel to discussions between sub-sovereigns at the recently concluded second African SubSovereign Government Network (AfSNET) conference, "the Forum agreed to pursue through its Africa (FORAF) and its partnership with the African Export–Import Bank (Afreximbank), support for enhanced dialogue, cooperation and collaboration between sub-sovereign governments around intra-African trade, investment, industrialisation, and development." The communiqué said the governors were also monitoring the flood situation across the country and working with the federal government through the National Economic Council (NEC) and in collaboration with the Federal Ministry of Agriculture and Rural Development (FMARD), Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development (FMHDSD), National Emergency Management Agency (NEMA), Central Bank of Nigeria (CBN), Federal Ministry of Finance, Budget and National Planning (FMFBNP). Furthermore, the governors said they were also working with the World Bank to prepare emergency interventions to ameliorate the impact of the flood especially in order to sustain food security. According to the communique, the governors were also briefed by

the World Bank Task Team Leader (TTL), Prof. Foluso Okunmadewa on the desired restructuring of the $750 million Nigeria COVID-19 Action Recovery and Economic Stimulus Program (CARES) programme to respond to Nigeria’s 2022 Flood Response following discussions with States and the National Economic Council (NEC) Ad hoc Committee on Flooding. It noted that the restructuring would allow states reallocate funding from the programme for immediate response for livelihoods, assets and basic services. "As the flood recedes, the states through the programme will be able to support the household

enterprise recovery grants, short-term transfer of households displaced, labor intensive opportunities for unskilled labor, rehabilitation of basic services infrastructure, recovery of damaged agricultural infrastructure, rehabilitation of destroyed wet markets, amongst others," the communique stated. The governors also said they received updates from the Senior Progamme Manager, NGF States’ Fiscal Transparency Accountability and Sustainability (SFTAS) Technical Assistance Programme, Olanrewaju Ajogbasile, on the implementation progress of the SFTAS programme which is presently in its last phase of annual assessments.

They assured Nigerians of their commitment in line with the programme, to sustain reforms and implement recommendations that could further strengthen their public financial management systems. The governors also said the Minister of Interior, Rauf Aregbesola briefed them on the congestion of the custodial centers across the country and the digitalisation of immigration processes. They said that they welcomed the report of the Minister and committed to working with law enforcement agencies, the judiciary, and the Nigeria Immigration Service (NIS) on the recommendations put forward as they relate to individual

Excess Crude Account Rises to $476,513 as FAAC Shares N736.782bn for October Ndubuisi Francis in Abuja

The balance in Nigeria’s Excess Crude Account (ECA) rose to $472,513.64 yesterday as the Federation Account Allocation Committee (FAAC) shared a total of N736.782 billion October revenue to the federal, state and local governments. The ECA accruals had plummeted from $35.7 million in June 2022 to a mere $376,655.09 as of July 25, 2022. Following THISDAY's report, the federal government was compelled to explain that the depletion was a result of an advance payment for the purchase of patrol vehicles for the Nigerian Navy.

In its Twitter handle, @NigeriaGov, the federal government had stated: “The $35 million disbursement from the Excess Crude Account is from June 2022 and is an advance payment for the purchase of brand new Offshore Patrol Vessels (OPVs) for the #NigerianNavy, as part of efforts to consolidate on maritime security gains recorded in the Gulf of Guinea." However, a communique issued after its November meeting yesterday, where October disbursements were made to the three tiers of government and other stakeholders, FAAC revealed that the balance in the ECA was $472,513.64 as of November

23, 2022. Citing the communique, the Director, Information/Press, Federal Ministry of Finance, Budget and National Planning, Phil AbiamuweMowete, stated that from the N736.782 billion October revenue, including Gross Statutory Revenue, Value Added Tax (VAT), Exchange Gain and Augmentation from non-oil revenue, the federal government received N293.955 billion while the states received N239.512 billion. The local government councils got N177.086 billion, while the oil producing states received N26.228 billion as 13 per cent mineral revenue. The communiqué explained that

Companies' BIP Performance Will Determine Quotas, Says Sugar Regulator The Executive Secretary of the National Sugar Development Council, Mr. Zacch Adedeji has said henceforth, sugar quota allocation for any sugar firm would be based on their performance under the Backward Integration Programme of the National Sugar Masterplan. According to a statement, Adedeji said this during separate tour of sugar refining sites in Lagos, operated by BUA, Flour Mills and Dangote Sugar During the inspection tour, the NSDC boss met with top officials of the three companies where discussions centred around the progress so far made in the implementation

of the first phase of the sugar Masterplan, the expectations of the government for the sugar sector as the second phase of the programme commences in 2023. The meeting also reviewed the progress so far made in the Backward Integration Programme and how challenges facing operators in the sector can be addressed. Speaking at the event, Adedeji was quoted to have said the government would take the implementation of the sugar masterplan seriously as the Council commences the second phase next year. According to him, the approval for raw sugar quota allocations to

State jurisdiction. It also revealed that the NGF Senior Health Advisor, Dr. Ahmad Abdulwahab, briefed the Forum on the progress with Polio/Routine Immunisation highlighting that there had been an 85 per cent reduction in the number of Circulating VaccineDerived PolioVirus (cVDPV) in 2022 from 1,028 cases recorded in 2021. The communique further stated that the governors were also provided update on the implementation progress of the COVID-19 Preparedness and Response Project (CoPREP) and the recently launched Primary Health Care (PHC) Leadership Challenge. They reiterated their commitment to the Seattle Commitments.

refineries would be strictly based on their commitment to the Backward Integration Programme which they have signed onto. The NSDC boss stated that subsequent quota allocation would no longer depend on the size of refining capacity, but the extent to which operators have complied with the BIP policy. The BIP policy seeks to among other things limit importation of the commodity as well as create millions of jobs for Nigerians. He said, “The next phase we are going, there is going to be change, and the change in the next phase which I want you to start having that

model is that I will restrict the sugar allocation to your performance in the Backward Integration Programme. “What this means is that if what you promised us from the BIP is only ten per cent of our self-sufficiency, you will only get ten per cent of total allocation for sugar. “Because the only reason why we are giving the projective tariff is that the difference between 70 per cent and the certain percentage you are being given is meant to be use on the farm. “But if your total farm projection is not up to the quota you are collecting, that is a mismatch because

if we are giving you 100 per cent and you are not producing 100 per cent, it means that at the end of the programme we will fail.” The NSDC boss told officials of BUA Refineries that the council remained fully committed to making the sugar sector environment more business-friendly and transparent in its engagement with existing and prospective investors through policy formulation and technical support. He said some sugar firms have yet to reach their quota, adding that the government would be able to achieve more if the companies could partner with land owners to grow sugar cane.

the gross revenue available from VAT for October was N213.283 billion. The federal government got N31.992 billion, the states received N106.642 billion, and local government councils got N74.649 billion. However, the gross statutory revenue of N417.724 billion distributed was lower than the sum received in the previous month, from which the federal government was allocated the sum of N206.576 billion, states got N104.778 billion. Local government councils got N80.779 billion, and N25.591 billion was for 13 per cent oil derivation. The communique stated that N70 billion 'Augmentation' was distributed to the three tiers of government, with the federal government receiving N36.876 billion; states, N18.704 billion, and local government councils got N14.420 billion. The sum of N30 billion non-oil Augmentation was distributed, with the federal government, states and local governments receiving N15.804 billion, N8.016 billion, and N6.180 billion respectively. The sum of N5.775 billion was also derived as Exchange Gain, and was shared among the three tiers of government. Oil and Gas Royalties, Petroleum Profit Tax (PPT) and Import Duty recorded considerable decreases, while Value Added Tax (VAT), and Companies Income Tax (CIT) increased significantly, while Excise Duty increased marginally, the communique said.

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NEWS

ABIODUN WINS MORE ENDORSEMENTS... L-R: Olowu of Owu, Oba Saka Matemilola; Alake and Paramount Ruler of Egbaland, Oba Adedotun Gbadebo; Ogun State Governor, Prince Dapo Abiodun; Osile of Oke-Ona, Oba Adedapo Tejuoso and Agura of Gbagura, Oba Sabru Bakre during the endorsement of the governor for a second term in oﬃce by the Egba Traditional Council at Ake Palace, Abeokuta... yesterday

DMO Raises N3.3trn from Domestic Market to Finance 2022 Budget Deﬁcit Ndubuisi Francis in Abuja The Debt Management Office (DMO) disclosed yesterday that it has so far helped the federal government raise N3.3 trillion from the domestic market to finance the 2022 Budget deficit. The DMO Director General, Ms. Patience Oniha, who made the

disclosure in Abuja, at a media briefing, explained that current efforts to raise funds from the domestic market would not crowd out the private sector The DMO was allocated a N3.56 trillion revenue to finance the 2022 budget deficit. Oniha said: "Government borrowing from the domestic

market does not crowd out private sector investment in any way." In response to a question on whether borrowing to fund the 2023 budget could be hamstrung by the spate of tightening measures in the local and global markets, Oniha said it was difficult to predict the outcome of the market ahead of 2023, which

is Nigeria’s election year. Oniha stressed that the privatisation agency had also issued a fresh N100 billion Sukuk offer for subscription Between 2017 and 2021, the DMO had raised N362.57 billion Sovereign Sukuk issued finance infrastructure projects nationwide. Sukuk is a project-tied borrow-

ing that enables the government to raise funding for specific infrastructure like roads and bridges. The agency has issued a new N100 billion Sukuk offer which closes next Tuesday. With a 15.6 per cent rental returns, the DMO was optimistic that it would be oversubscribed

House Probes NEITI, NUPRC Recruitment, Employment Process Urges NDDC to resume work on Akwa Ibom road project Udora Orizu and Juliet Akoje in Abuja The House of Representatives yesterday has mandated its Committees on Petroleum Upstream and Federal Character to investigate the lopsidedness in the recruitment and employment process by the Nigerian Extractive Industries Transparency Initiative (NEITI) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and report back within three weeks. It also urged NEITI and the NUPRC to cancel the recruitment/employment if found short of the federal character requirements. The resolutions were sequel to the adoption of a motion on the ‘Need to Investigate NEITI and the NUPRC for Lopsided Recruitment/ Employment,’ moved by Hon. Ibrahim Muhammed Hafiz Kawu at plenary yesterday. Kawu noted that NEITI and the NUPRC are guided and regulated by the laws of the Federal Republic of Nigeria in their recruitment or employment process. "Aware that NEITI and the NUPRC have embarked on multiple recruitment/ employment. "Also aware of the public outcry that the recruitment/employment has been concentrated on a particular state/region of the country without recourse to the principle of the Federal Character, fairness, equity and justice," it stated.

Meanwhile, the House of Representatives at plenary yesterday stepped down a motion on the need to condemn attacks on offices and facilities of the Independent National Electoral Commission (INEC) in several states. The motion sponsored by Hon. Oluga Taiwo, as listed in the order paper noted that there had been frequent systemic arson and attacks on the personnel, offices and facilities of the INEC, adding that the premeditated attacks seemed to be targeted at crippling the Commission and scuttling the 2023 general elections. The motion, observed that the Constitution of the Federal Republic of Nigeria, 1999 (as amended) guarantees democratic governance as the only acceptable and legitimate means of governance and democracy is only sustained by free, fair and credible elections, hence, an attack against elections is an attack against democratic governance and perpetrators of such attacks are enemies of the country. It states that despite the affront on democracy and the constitution of the Nigerian State, the Nigerian Police and other Security Agencies have been unable to arrest perpetrators of the heinous crime. Hence the prayers of the motion sought to condemn all forms of attack on the facilities and buildings of the federal government in the country, particularly attacks on INEC’s facilities and infrastructure.

It urged politicians and stakeholders to admonish their supporters to refrain from attacks and violence before or during the 2023 elections and also urge the Nigerian Police Force, Nigerian Security and Civil Defense Corps and other Security Agencies such as the Department of State Services to synergies with the Attorney General of the Federal Republic

of Nigeria to identify, investigate, arrest and prosecute the perpetrators behind the attacks." However, when it was time for the sponsor, Oluga to present it, the Deputy Speaker, Hon. Idris Wase who presided over the session said there was a similar motion in that regard, already passed and the Committee, saying they were expected to submit their report

anytime soon. Also, at the plenary, the lawmakers adopting a motion sponsored by Hon. Aniekan Umanah, on the need to complete the construction of Ediene Abak-Ikot Ekan-Etinan road project in AkwaIbom State, urged the Niger Delta Development Commission (NDDC) to ensure that work resumes on the site of the project.

like previous offers. Oniha explained that beyond the advantage of financing infrastructure, Sukuk, "is a retail investment for promoting financial inclusion and adverts will be placed in various media platforms to sensitise people about the instrument. “Overall, we're specifically borrowing to fund infrastructure. But we're also developing the market and giving people more investment opportunities, it’s a win-win for Nigeria. "Even the contractors are interested because they want to work. So, once they are assured of payment, they go to site and begin to work and when the contractors go to site, they employ people, and then there are all these other ancillary jobs that are created.” The Funds raised from the new Sukuk would be used to finance federal road projects on the list of the Federal Ministry of Works and Housing as well as the Federal Capital Territory (FCT).

Lagos APC Holds Presidential Rally for Tinubu Saturday Solomon: it’s homecoming for our leader Segun James The Lagos State chapter of the All Progressives Congress (APC) will on Saturday hold a campaign rally for the party’s presidential candidate, Asiwaju Bola Tinubu, at the Teslim Balogun Stadium, Lagos. Announcing the preparation for the rally at a press briefing in Lagos, yesterday, Chairman of the Local Organising Committee for the presidential campaign in Lagos State Campaign Council, Senator Ganiyu Solomon, said the rally would be a kind of homecoming for the former Lagos State governor and the national leader of the party. Solomon said the rally would be massively attended by members of APC and the general public because of the popularity of Tinubu. He said Tinubu had remained the most consistent and biggest contributor to democracy, and a visible democratic icon since the

return to civil rule in 1999. Solomon stated, "You may wish to recall that Asiwaju Tinubu excelled as a Senator of the Federal Republic representing Lagos West Senatorial District, and as the governor of Lagos State between 1999 and 2007. Therefore, the event is like a homecoming for our leader and mentor, who has become a national pride. "As a responsible political party, it is imperative to seek the cooperation of members of the general public as regards the need for temporary diversion of traffic and mass movement of supporters within the vicinity of the rally." On security arrangements, Solomon assured members of the public that men of the Nigeria Police, Lagos State Traffic Management Authority (LASTMA) officials, and other law enforcement agencies would be fully mobilised to ensure that the rally was devoid of security infractions and traffic disruptions. APC chairman in the state, Pas-

tor Cornelius Ojelabi, enjoined all participants to be of good conduct and display a peaceful character. Ojelabi spoke extensively on the security measures being put in place, because of the anticipated large number of people that would attend the rally. “On the issue of security, we will try to make the venue very conducive for all," he said. Ojelabi explained that the question of the number of people expected to grace the occasion was obvious because the campaign was a homecoming for the national leader of the party and the party’s presidential candidate. He said, "This is also the first time Lagos State will be presenting a presidential candidate, who has become a household name, not only in Lagos State, but in Nigeria. We are not ruling out a huge number of attendees. We can assure you there will be a massive turnout and adequate security for all attendees.

"You just come and see the love the people of the state will show to Asiwaju Tinubu. Lagosians want to hear from the presidential candidate of the party. We have made adequate arrangements for everybody that will be at the rally.” Speaking, too, on the arrangement, publicity secretary of the campaign, Hon. Seye Oladejo, said the police, LASTMA and other security agencies would be mobilised to prevent infractions Oladejo said there would be formal accreditation for journalists that will cover the rally. National youth leader of the party, Hon. Dayo Israel, said, “National Chairman of the party, Abdullahi Adamu, and other chieftains of the party will be in attendance. “In Lagos, on Saturday, we have a duty to turn up for Asiwaju Tinubu. A victory for Tinubu is a victory for Lagos. We can show the world that Lagos is for Asiwaju a hundred per cent.”

THURSDAY NOVEMBER 24, 2022 • T H I S D AY

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NEWS

FINALLY, OIL DRILLING BEGINS IN THE NORTH... L-R: Sokoto State governor Aminu Tambuwal; Group Chief Executive Oﬃcer, NNPC Ltd, Dr. Mele Kolo Kyari; Board Chairman, NNPC Ltd, Sen. Margery Chubs Okadigbo; Bauchi State governor Bala Abdulkadir Mohammed; President Muhammadu Buhari; APC Presidential Candidate Asiwaju Bola Ahmed Tinubu; Gombe State governor Muhammed Inuwa Yahaya; President of the Senate, Sen. Ahmad Lawan, and others, during the Presidential Flag oﬀ of Kolmani Integrated Development Project (KIPRO), held at Kolmani River Project Site, Bauchi State... on Tuesday

Malami: $1bn Looted Funds Recovered Since 2015 Says recovered funds spent on poverty alleviation FEC approves new anti-corruption strategy document Govt expresses worry over budget padding

Deji Elumoye in Abuja The federal government yesterday disclosed that over one billion dollars have been recovered as looted funds by the present administration in the last seven and half years. The Attorney-General and Minister of Justice, Abubakar Malami, who made this known while briefing newsmen at the end of the weekly Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari at the State House, Abuja, said $1 billion looted funds had so far been recovered by the Muhammadu Buhari-led administration from May, 2015 to date. According to him, the current administration has multiplied the success rate at which the anti-corruption agencies have been securing convictions, citing the case of the Economic and Financial Crimes Commission (EFCC), which recorded 3,000 convictions in 2022 alone. Commenting on the issue of recovery looted funds, Malami stated that the funds had been deployed to various sectors of the economy, including poverty alleviation. He said: “As I stated, in terms of prevention, we have succeeded and recorded tremendous success, to the extent that as at the time we came on board as a government, for example, only 109 convictions were recorded from the inception of major agencies of government that were saddled with the responsibility of the fight against corruption, spanning over a period of more than 10 years as at the time we came.

“But today, we are recording successes in terms of convictions to the extent that a single agency of government, if you take for example, the EFCC, within a year, I'm talking of 2022, we have recorded over 3,000 convictions. “So if you are looking at corruption from the perspective of conviction, if your yardstick is to determine what success is in terms of convictions have been recorded, the yardstick is that we have succeeded in moving the convictions to the next level from the point of 109 convictions in over 10 years, by previous administrations, to a point of over 3000 convictions within a year by the government of President Muhammadu Buhari. “Then if you are looking at it from other perspectives, for example, perspectives related to the recovery of the looted assets, the government of President Muhammadu Buhari has succeeded in recovering around $1 billion from its inception to date. “You will recall, with precision, that in 2017, over 300 million was indeed recovered from Switzerland, which monies were eventually deployed in the reduction of poverty, in line with the commitment of President Muhammadu Buhari, which in effect gave rise to what we had as NPower, Trader Money, among other multiple programme that were put in place by the government of President Muhammadu Buhari,” he said. Speaking on the approval of FEC for the National Anti-corruption Strategy Document, Malami explained the same document had been adopted for the period

2017-2022 and had made the fight against corruption really successful, hence the decision of FEC to allow it to run the 2022-2026. His words: “Considering that the 2017-2022 anti-corruption strategy put in place is lapsing, the need arises for enhanced strategies and that is what gave rise to the need among the justice sector family to come together, review what has been done, and then see what improvement needs to be put in place for the purpose of sustenance and indeed enhancing the fight against corruption. “So today, the Office of the Attorney-General of the Federation presented a Council memo, seeking approval of the Council for the validation, adoption and the extension of the National Anti-

corruption Strategy document from 2022 to 2026. “I'm happy to report that the memo was taken, deliberated upon and eventually approved by the Council, the implication of which is that we now have in place a new anti-corruption strategy policy document, which is a product of collaboration, consensus among the justice sector and law enforcement agencies.” Malami also expressed government's concern over cases of budget padding, which he described as worrisome, noting that every necessary measure would be explored to address it. The minister while responding to question on budget padding, expressed disappointments with Ministries, Departments and Agen-

President Muhammadu Buhari will today lead a seven-man Nigerian delegation to attend a two-day African Union Summit on Industrialisation and Economic Diversification, as well as the Extraordinary Session on African Continental Free Trade Area (AfCFTA) in Niamey, Niger Republic. On the President's delegation are the Minister of Foreign Affairs, Geoffrey Onyeama; Minister of Defence, Major-Gen. Bashir Magashi (rtd), Minister of Industry, Trade and Investment, Adeniyi Adebayo; the Minister of Finance, Budget and National Planning, Zainab Ahmed; the National Security Adviser, MajorGeneral Babagana Monguno (rtd)

and the Director-General, National Intelligence Agency, Ambassador Ahmed Rufai Abubakar. According to a release yesterday by a presidential spokesman, Mallam Garba Shehu, the president, who will depart Abuja today, November 24, 2022, will also attend the launch of French version of the Book entitled: “Muhammadu Buhari: The Challenges of Leadership in Nigeria”, as well as inaugurate the 'Muhammadu Buhari Boulevard', named after him by the Government of the Republic of Niger. The naming of the Boulevard and launch of the French version of the Book, written by John Paden, a Professor of International Studies at George Mason University, northern Virginia, United States, on today,

it, budget padding is bad, because if you budget N5 billion for road and N3 billion of that fund is diverted, it means government has lost that money and it will take a longer period to complete the project. “The government is concerned and will do what is necessary to address the issue.” Also briefing, Minister of Works and Housing Babatunde Fashola revealed that FEC approved a budget augmentation of N14 billion for the Kano Western bypass, awarded to Dantata and Sawo. The road project was raised from N22 billion to 36.89 billion. “The need to include a flyover and more hydronic facilities to drain water, necessitated the augmentation” adding that “this will link the Kano Maiduguri high way.

Airline Operators End Two-year Leadership Tussle Vow to challenge FG over choice of Ethiopian Air as partner for national carrier Emameh Gabriel in Abuja Domestic airline owners, under the aegis of the Airline Operators of Nigeria (AON) yesterday announced that it has ended the two-year old leadership tussle between its factions to forge a united front to save the industry from the hands of those it described as backdoor businessmen. The announcement followed the withdrawal of a suit challenging the current leadership of the union headed by the founder of Azman Airline and the President of Azman

Group, Dr. Abdulmunaf Yunusa and the Chairman/CEO of Air Peace Airline, Allen Onyema. This was just as the operators expressed readiness to explore every means available to ensure that the current structure and formation of the nation's national carrier, Nigerian Air, which it said was, "designed to kill" the country's aviation industry was stopped. Addressing journalists at press briefing in Abuja yesterday, Yunusa said the briefing was called to announce to Nigerians and its members at all levels that both

Buhari Leads 7-man Delegation to AU Summit in Niamey Today Deji Elumoye in Abuja

cies (MDAs) that are involved in it. The Minister of Humanitarian Affairs, Disaster Management, and Social Development, Sadiya Umar Farouq, had blamed the Minister of Finance, Zainab Ahmed, for adding N206 billion to the humanitarian ministry’s budget. While appearing before the Senate Committee on Special Duties on Monday, to defend the 2023 budget, Farouq had claimed that the ministry requested some projects for the North East Development Commission and the National Social Safety Net Project in the 2022 budget, which were not released, but was surprised to see an inflated amount in the 2023 budget of the ministry. Reacting to the issue, the AGF said: “Whichever way one looks at

precedes the AU Summit on Friday, November 25, 2022. President Buhari is expected to deliver his national statement at the African Union Summit on Industrialisation and Economic Diversification, meeting under the theme: “Industrialising Africa: Renewed commitment towards an Inclusive and Sustainable Industrialization and Economic Diversification.” The high-level. summit being convened as part of the Africa Industrialisation week annual commemorative activities, is expected to adopt a declaration, highlighting the importance of industrialisation and economic transformation on the continent and how to make progress in that regard.

The Extraordinary Session on AFCFTA is expected to adopt the Phase II Protocols of the continental free trade area as well launch additional operation tools. Nigeria has continued to demonstrate a high level of commitment towards the full operationalisation of a pan-African free trade area that will create a single market for goods and services, liberalise and facilitate the movement of investment and business people across the continent. On July 7, 2019, Nigeria signed the AfCFTA agreement in Niamey during the 12th extraordinary session of the Assembly and launch of the operational phase of the trade deal. The country ratified its membership of the AfCFTA on November 11, 2020.

factions of the body have agreed to work together for the best interest of the country and to save the industry from collapsing. He said: "We are to tell you that we have settled our differences and now we have come together to work for the best interest of the sector and the country. We are one family and even at home, we can have differences but from now on, we are together. We will work together for our country. "We don't want anything to come and affect our industry and that's why we are here to assure our members and the entire country that we are together and we don't have any misunderstanding again.” On his part, leader of the faction and Chairman, Westlink Airlines, Capt. Ibrahim Kadafir Mshelia, who confirmed the withdrawal of the litigation, said the decision was premised on the spirit of patriotism to save the industry from collapse. He said: "You will recall that in 2020, we had elections and some section of AON were not satisfied. And I happen to be the leader of that faction that was not satisfied. But over the period, as the case moved on, we realised that we could settle our differences out of court. That's what we have done. "I have come to be part of the original AON and there is no division in the industry. On behalf of my team, I recognise the Chairman and President of Azman and the President of Air

Peace as the chairman and vice chairman of AON. "We are now in agreement. The faction that was not happy before, is now very happy with the leadership of the AON. I want to announce to my faction that the disagreement has now been resolved and we are strong together now. We are here to defend the industry. "We want a national carrier in the right structure that we can call Nigeria, not what somebody will come in and give us an impression that it's Nigeria, when we know clearly it is not. So, understand where we're coming from. “We're not against anybody coming up with a national carrier, but he must be in the right structure. And it must be free and mostly owned by Nigerians. And that way we know for a fact that yes, this airline is a national airline supported 100 per cent." Speaking further, he said: "We are here to ensure that the sovereignty of the Nigerian aviation does not depart us. We have withdrawn our case and our lawyers have concluded the process, “ Meanwhile members and leadership of the group who took turn to speak at the briefing in one voice, have vowed to ensure that they fight the newly launched national carrier, believed to be owned by some private investors not to succeed in crashing the aviation sector.

THURSDAY NOVEMBER 24, 2022 • T H I S D AY

THURSDAY, ͺͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

TEN

US Walmart Shooting: Employee Kills Six at Virginia Supermarket An employee at a Walmart supermarket in the US state of Virginia has shot dead six people and injured six others. Officers were called to the busy branch in Chesapeake after the gunman opened fire on colleagues in a staff room. He then turned the gun on himself and died of a self-inflicted gunshot

wound, BBC quoted officials to have said. There is no clear motive for the shooting. Police are not searching for anyone else in connection with the attack. The police have identified the gunman as 31-year-old Andre Bing, and they said he was armed with a handgun as well as multiple

magazines. Walmart said he was an, "overnight team lead" who had been employed there since 2010. "We are focused on doing everything we can to support our associates and their families," the company said. Of the six injured, two were known to be in a critical condition while

WE’RE SOLIDLY BEHIND ATIKU/OKOWA, SOUTH-SOUTH GOVS DECLARE of the Peoples Democratic Party (PDP), Atiku Abubakar, and his running mate, Dr. Ifeanyi Okowa. Speaking to newsmen at Government House, Yenagoa, shortly after a meeting of four Peoples Democratic Party (PDP) governors in the South-south, Okowa, who is also the governor of Delta State, said the governors were determined to deliver their party in next year’s presidential election. Besides Okowa, governor at the meeting included Udom Emmanuel (Akwa Ibom), Godwin Obaseki (Edo), and Senator Douye Diri (Bayelsa). The PDP vice presidential candidate said the issues involving their party’s G-5 governors, led by Rivers State Governor Nyesom Wike, were being addressed. He assured that the PDP presidential candidate and the five other governors would meet soon. He said, "We believe that we are one family. There are still issues and they are being attended to. Very soon, there will be a meeting between the presidential candidate and the G-5 governors. “They are part of the family and we are not going to allow them go. So, obviously, everything is

being put in place to reconcile all differences and move together as a family." On his part, Diri described the South-south as a stronghold of PDP, assuring that the party would emerge victorious at all levels in next year's general election. He expressed delight at the unity and love among the governors of the zone and said he was confident that the differences among some party members, which he described as family issues, would be resolved amicably. Diri thanked his colleagues for their support to the state during the recent floods, saying the people of the state would always be grateful to them. He said, "I can only say on behalf of the government and the people of Bayelsa State, we appreciate the South-south governors. As my brother, the governor of Edo, has stated, we are one. In the family, there are always disputes. Those disputes do not separate us. We will resolve them and we continue to push on as one. "South-south is a PDP region. South-south is a place, where no other party can contend, except PDP. I assure you that in all the

elections, from the presidency to the governorship, the National Assembly and the state assembly, PDP will again triumph." In his remarks, Obaseki said they were in the state to show support to the government and people of Bayelsa State over the recent flood that ravaged the state. He affirmed that as a region, their support for the Atiku/Okowa ticket was sacrosanct and they would do all within their powers to unite the party and go into the election as a strong and united zone. Meanwhile, the Atiku/Okowa Presidential Campaign Organisation has commended the South-south governors for pulling together in support of the PDP presidential candidate, Atiku Abubakar. In a statement by one of the spokespersons of the campaign, Kola Ologbondiyan, Atiku/Okowa Campaign Organisation commended the readiness of the governors to work to deliver the votes of the South-south geo-political zone to PDP in the 2023 general election. "Our campaign also urges the South-south governors not to relent in bringing all their brothergovernors on board, irrespective of their political affiliations," he said.

one is in a stable condition. The first call to police was made at 22:12 local time on Tuesday (03:12 GMT Wednesday) and officers arrived at the supermarket within two minutes. They entered the building shortly after and the scene was declared safe around an hour later once it had been cleared and all the victims had been located. Processing the crime scene would likely take several days, Police Chief Mark Solesky told a news conference yesterday, adding that the investigation was being carried out with the help of the FBI. An eyewitness - who was wearing

a Walmart uniform - described what happened in footage that circulated on social media shortly after the attack. He said he had left a staff room, which a colleague then entered before quickly opening fire. One woman told WAVY-TV that her brother, a 20-year-old employee, was shot and wounded just 10 minutes after signing on for work. But she said her sibling had been able to talk to relatives and send texts, something she said was "comforting". Another woman, Joetta Jeffery, told CNN that her mother had been inside the building when the attack took place, and had managed to send text messages.

INEC VOWS TO END VOTE BUYING, VIOLATION OF CAMPAIGN FINANCES Mahmood Yakubu, who stated this yesterday at a stakeholders’ forum organised in Abuja by the Civil Society Situation Room (CSSR) in Abuja, however, insisted there would be no more use of the incident form. This is as the British High Commissioner to Nigeria, Mrs Catriona Lang, yesterday, said next year’s general election was important to the United Kingdom, Africa and the rest of the world, and therefore, reiterated the British government policy to impose visa restrictions on those involved in violent acts during elections. At the same time, the House of Representatives, at its plenary yesterday stepped down a motion on the need to condemn attacks on offices and facilities of INEC in several states of the federation. In another development, INEC, has disclosed that an aggregate of 234,037 voters were yet to claim their Permanent Voter Cards in Ekiti State.

the “The Morning Show” on Arise News Channels, the broadcast arm of THISDAY Newspapers. He said too much money in circulation had been identified as one of the causes of inflation, and the redesign and launch of the new naira notes would help to address the situation. Giving reasons why the CBN decided to unveil the new naira notes earlier than the initial December 15 date, Mahmud said Emefiele had explained that everything relating to design, printing and production of the new naira notes would be done locally, with full local content. He said the initiative was achieved on record time, hence the need to unveil the new naira notes earlier than announced. Mahmud also explained why the CBN was planning to reduce the volume of N1,000 and N500 notes in circulation. He said the idea was to get the country’s monetary policy right. According to Mahmud, “The instrument that government uses to address money supply in the system to affect domestic prices, which is inflation, will be more effective. Getting that volume into the system will enable the monetary policy tools to become more impactful in terms of achieving price stability. “The CBN created alternative channels for payments and financial transactions, which include: Point of Sales (PoS) terminals, online transfer, mobile money transfer, Automated Teller Machine (ATM), which are fintech driven, in order for Nigerians to have alternative to cash. “The truth is that it is very expensive to print and manage cash. If the federal government has invested so much in re-designing the new currency that was unveiled yesterday, bringing that same volume of naira back into the system will amount to achieving nothing.” Addressing the features of the new naira notes, Mahmud said the re-design and production had been concluded and the Arabic inscription was part of the features of the new naira notes.

every national institution with the responsibility for tracking and combating the illicit flow of funds as well as the broadcast and print media regulatory agencies to confront the problem head-on. The details of this will be unveiled shortly.” He further disclosed that it again met with the leadership of the National Union of Road Transport Workers and reviewed its Memorandum of Understanding (MoU) with the road transport union. While noting that tremendous progress had been made in the production and delivery of critical sensitive and non-sensitive election materials to state offices of INEC as well as ongoing recruitment and training of ad hoc staff, the commission said it has expanded the scope of collaboration to include the marine union for the the riverine areas and that, the revised MoU would be signed with the service providers to cover both land and maritime transportation. His words: "On electoral logistics, particularly, the arrangements for the movement of personnel and materials to various locations during elections, the commission met again with the service providers and reviewed the Memorandum of Understanding (MoU) with the road transport unions. "Arising from our experience in previous elections, the commission has expanded the scope of collaboration to include the marine union for the the riverine areas. Very soon, the revised MoU will be signed with the service providers to cover both land and maritime transportation. "However, there are four broad areas that Nigerians would like to receive assurances of the progress the commission is making and challenges (if any) being encountered. They are security, campaign finance, technology, the Permanent Voters’ Cards (PVCs) and assurances that their votes will count on Election Day. "On security, the commission has said repeatedly that it is an area of concern. The commission has the responsibility to conduct elections. However, securing the environment for the deployment of personnel and materials as well as the peaceful conduct of elections is a shared responsibility involving the security agencies, the political actors and their supporters, the media and all other critical stakeholders. "The perennial insecurity in the country is a source for concern. This existing challenge is compounded by the unfortunate incidents of attacks on campaigns, rallies and processions across all political parties.” Although the provisions of the Electoral Act 2022 and the Commission’s Regulations and Guidelines for political parties are clear, the commission said it has found it necessary to remind political parties, candidates and their supporters on the provisions of the law and their responsibilities. "Accordingly, tomorrow Thursday 24th November 2022, the Commission will release a summary highlighting the legal provisions governing the conduct of political rallies, processions and

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The commission, however, assured Nigerians that the Bimodal Voter Accreditation System (BVAS) has come to stay as the only means of voter accreditation, insisting that there would be no incident form on election day. To this end, the commission said it would today (Thursday) publish a summary of the guidelines on finances and election expenses of parties and their candidates. According to Yakubu, "Turning to campaign finance, the Commission is determined to tackle the matter frontally. Areas of violation include party and candidate expenditure beyond what is provided by law and the diabolical practice of vote buying at polling units on election day. "Here again, the commission will tomorrow Thursday 24th November 2022 publish a summary of the guidelines on finances and election expenses of parties and candidates. “Beyond that, we are mobilising

BUHARI EXCITED BY NEW BANKNOTES, SAYS ENHANCED SECURITY FEATURES‘LL MAKE COUNTERFEITING DIFFICULT of the country's heritage. Speaking in Abuja at the launch of the redesigned naira notes, shortly before the commencement of the weekly Federal Executive Council (FEC) meeting, inside the Council Chamber of the State House, Abuja, the president expressed delight that the new currencies were locally produced by the Nigerian Security Printing and Minting (NSPM) Plc. Buhari commended the CBN governor, Godwin Emefiele, and his deputies for the initiative, while also thanking Managing Director, Executive Directors, and Staff of NSPM for working with the apex bank, within a pretty short time, to make the currency redesign a reality. Acknowledging that international best practice required central banks and national authorities to issue new or redesigned currency notes every five to eight years, the president observed that it was now almost 20 years since the last major redesign of the country’s currency was done. According to him, “This implies that the naira is long overdue to wear a new look. A cycle of banknote redesign is generally aimed at achieving specific objectives, including, but not limited to, improving security of banknotes, mitigating counterfeiting, preserving the collective national heritage, controlling currency in circulation, and reducing the overall cost of currency management. “As is known, our local laws – specifically the Central Bank of Nigeria Act of 2007 – grant the Central Bank of Nigeria the power to issue and redesign the naira. “In line with this power, the Central Bank Governor approached me earlier this year to seek my permission to embark on a currency redesign project. I considered all the facts and reasons presented before me by the central bank. “There was an urgent need to take control of currency in circulation and to address the hoarding of naira banknotes outside the banking system, the shortage of clean and fit banknotes in circulation, and the increase in counterfeiting of high-denomination naira banknotes. “It is on this basis that I gave

my approval for the redesign of the N200, N500, and N1000 banknotes. “While this may not be apparent to many Nigerians, only four out of the 54 African countries print their currencies in their countries, and Nigeria is one. Hence, a majority of African countries print their currencies abroad and import them the way we import other goods. “That is why it is with immense pride that I announce to you that these redesigned currencies are locally produced right here in Nigeria by our Security Printing and Minting Plc. “The new naira banknotes have been fortified with security features that make them difficult to counterfeit.” Earlier in his remarks, the CBN governor thanked the president for his unwavering support for the redesign and distribution of the new notes, which he said would help to control inflation, make policies more effective, ensure financial inclusion, and fight corruption. Emefiele also stated that by international best practice, the redesign of notes should be every five to eight years, and the currency in circulation had been in usage for 19 years, with spiralling challenges on the economy, especially on security and counterfeiting. He appreciated Buhari for his insistence that the initial notes must be designed and produced within the country, further placing confidence in Nigerian Security Printing and Minting Plc. “Mr. President, only a president of your esteemed and incorruptible stature could have done what we are witnessing today." The CBN governor listed the benefits of the redesigned naira notes to include enhanced security, greater durability, attractiveness, and promotion of the country’s rich cultural heritage. Answering reporters' questions after the event, Emefiele said the apex bank was determined to make Nigeria a cashless economy. He said the amount of money that could be withdrawn from the counter would be drastically restricted, noting that security agents would track anyone

who wants to withdraw substantial cash to determine its use Emefiele said, "In other countries, you will find, say in the United States, you want to withdraw $10,000 from the counter, you will be interrogated, you will fill numerous forms, they will even track the use of that $10,000 cash that you are withdrawing. "Or you want to withdraw £10,000 from the counter. They will refuse and if you insist, then you will fill forms. The problem we have had in the past is that we say this is a cash economy. "There is no economy that is inbuilt, thinking that it has to be cash economy. The world has moved away from predominantly cash to cashless economy. And I think Nigeria and the Central Bank of Nigeria is prepared at this time to move towards a cashless economy. “And that is the reason why with the re-issue of these notes, we will insist that cashless would be nationwide. "We will restrict the volume of cash that people can withdraw over the counter. If you need to withdraw large volume of cash, you will fill uncountable forms. We will take your data, whether it is your BVN, your NIN so that enforcement agencies, like EFCC or ICPC, can follow you and be sure that you are taking that money for good purpose.” Emefiele stated further, "We have to work as a country, Nigeria is the biggest country, both in population and economy, in Africa and we have to ensure that we do things the right way that also position us as leader in Africa and one of the leading countries in the world. “We must do things right and I think it would start from today." The CBN boss said nobody was being targeted with the currency redesign, as widely rumoured. He stated, "The practice worldwide is that currencies should be redesigned or replaced or reissued every five to eight years. But for Nigeria, we have not had the opportunity of redesigning and reissuing currency in the last almost 19 years.

Jeffrey said her mother was not hurt but was in shock. Republican Virginia Governor Glenn Youngkin, meanwhile has ordered flags to be flown at half-mast to mark the tragedy. "There will be time for us to react and better understand but today is a moment where we need to support these families that are facing the unimaginable," he said. President Joe Biden described the attack as, "another horrific and senseless act of violence." "I signed the most significant gun reform in a generation, but that is not nearly enough. We must take greater action," he said.

"The CBN by law has a mandate to reissue and redesign currency for the country and for Nigerian people every five to eight years. And I want to hope that after the event of today, the CBN can just take it as part of its programmes to see to it that within five to eight years, the currencies are designed or reissued. "It is because mainly the central bank should be able to have full control of the size of currency in circulation. That is the sole mandate of the CBN, because it has implications for monetary policy management in the country. "There is no need for anybody to think that this programme is targeted at anyone. Like you heard the president speak in the chambers, he said that this discussion to redesign and reissue this currency started earlier in the year. "We took painstaking efforts in looking at the pros and cons and the reasons when and why it should be done. And the president, in his wisdom, decided that, yes, it must be done. "In the past, I have to confess that attempts by the CBN to redesign our currencies had been resisted. And that is the reason I also read in my speech that is only a president of the esteem and statute of President Muhammadu Buhari that could have done this. "I want to seize the opportunity to appeal to members of the public that there is no need for any insinuations, giving the impression that this is targeted at any individual. There is no attempt at that. We're doing our work and we would continue to do our work." Emefiele insisted that the January 31, 2023 deadline for the exchange of old notes would not be extended, noting that there are over one million points in the country where people can deposit the old notes. In a related development, Director, Monetary Policy Department, CBN, Dr. Hassan Mahmud, yesterday, said the newly launched banknotes would address price stability and mop up cash hitherto outside of the banking system. Mahmud said this while speaking as a guest on

THURSDAY NOVEMBER 24, 2022 • T H I S D AY

T H I S D AY ˾ THURSDAY NOVEMBER 24, 2022

POLITICS

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

Onyia: 2023 Presidential Poll is for PDP to Lose Former member, Revenue Mobilization, Allocation and Fiscal Commission and chieftain of the Peoples Democratic Party, Sir Ejiofor Onyia, in this interview with Omon-Julius Onabu, says the seemingly festering crisis rocking the party would not be as complicated as it is being made to appear, if the diﬀerent interest groups would consider the contentious issues from the perspective of party interest

he crisis rocking your party, the Peoples Democratic Party, appears to be far from being over. Why is it so difﬁcult for respected elders in the party like you to bring the crisis to an end especially in the Iight of ongoing campaigns? I think the situation in the party at the moment is a little bit worrisome, but one must be realistic over the matter now. What is obvious is that the party runs by the rule of law. So, whatever agreements that are being put forward must be within the rule of law of the party. Specifically, going by the provisions of the party’s constitution, a new National Convention of the PDP must take place in order to effect whatever changes in the leadership being contemplated, such would be impossible before the forthcoming general election in Nigeria. Moreover, the party’s constitution provides that in the event of the removal of the national chairman of the party before the expiration of his or her tenure of office, it is the deputy national chairman, from the same geo-political zone as the national chairman, that can succeed the National Chairman, rather than someone else from another zone. I was one of those who initially - and I still hold that opinion - that we should not castigate anybody; that we should not castigate anybody in the party despite the reactions that followed the primary election of the party. People must be allowed to vent their anger, but there must be a limit to everything that has to be done. Now, the contending issue, as it is today, has to do with moving the leadership of the party from the North to the South. This is what I understand and that I want to be sure that I put out issues for everyone to consider.

only person that can succeed him, by the PDP Constitution, is the Deputy National Chairman from the zone, which is from the North. Therefore, if the issue is that the Party Chairman should move to the South, that is not tenable as it is today, by the constitution of the party. I challenge anybody in the party to come up with a scenario whereby this can be accomplished without really creating a legal issue and inculcating more crises within the party. It is a legal issue and must be handled with care.”

Onyia

By the rule of law of the Party and the Constitution, there is no provision by which that can be achieved right now. Because that means we are going to have a new convention to elect a new executive (council). We don’t have that kind of time and, therefore, there is no need to pursue that goal anymore. Now, if it is an issue of Ayu personally, then we must all try and learn to live with the reality for now. Unless there is a means of removing him as Chairman. But one thing I have to caution is that even if Senator Ayu is removed today as Chairman, the

Governor Nyesom Wike appears to be rigid and unyielding about his group’s position on Senator Ayu as the party’s national chairman... I am appealing to my friend, the Governor of Rivers State (Wike), to sheathe the sword in the interest of the party. Aside being a lawyer who knows better, I think he should really be thankful to God for all that he has achieved so far; and, he has a great future ahead of him still. However, I am particularly not comfortable with the position of Bode George, whom I felt should have been a father to broker the peace and to keep a neutral position for this thing to work well. Yes, we are Southerners, but the issues must be delt with without looking at it purely only from one section or the other. The rule of law must take its course, must be allowed to thrive. We are democrats, and where there is a democratic decision then, even if you don’t agree with the majority, we must allow the system to flow, that is, even if you do not agree with the democratically taken decision.

you advise? It is unconstitutional, for now. And therefore, that should be left alone until after the election. There are certain issues that could be discussed, certain promises and agreements can be reached. Immediately after the election, if by the grace of God, if Atiku is sworn in as the President, that becomes an automatic something that will happen. So, I’m a little bit concerned when I hear certain leaders of the party who should be seeking concession and seeking settlement, taking a side and making such demands, that they should know whay is obtainable. It only means that people don’t want solution to the problem. We have come to the level where we cannot pursue something we know that is not legal, that is not tenable, and then, the issue of impunity should not be brought into this situation as it is today. The rule of law must be allowed to thrive within our system. We are democrats, and where there is a democratic decision, then even if you don’t agree with the majority, but once the majority has spoken, then you must allow the system to flow. They can go to the National Working Committee to look at the issues, and the National Working Committee are gaining votes of confidence on the Chairman. That ends the story, because that is the only body empowered to make any such changes, if there was need to do. So, this is the way I look at it and I’m appealing to everybody including my good friend, Wike to let this go, and let us bring this country back to what it should be. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Against the foregoing, sir, what would

Beke: With BVAS, I’ll Dislodge PDP from Rivers Govt House In this interview with Gboyega Akinsanmi, the Rivers state governorship candidate of All Progressives Grand Alliance, Prince Ugo Beke, discusses governance failure in the state, his three-point agenda, danger of zoning political oﬃces and the prospect of ending the reign of Peoples Democratic Party in the state with the deployment of Bimodal Voter Accreditation System (BVAS)

hat actually inspired you to contest the governorship election in Rivers State? This inspiration came to me long ago. It did not start when I joined politics, but when I was in Buckingham University years ago. I was opportune to spend a night with the late elder statesman and former Premier of Mid-Western Region, Chief Dennis Osadebay in Asaba, now in Delta State. On my way back home, it took me a short time to get to Port Harcourt from Asaba to Onitsha and Owerri. As a child that time, I thought I could convert the whole area to California. I also thought there were a lot of development issues that needed to be tackled. As young as I was then, I always had that dream. I grew up with that dream until I became a teacher. I taught as a youth corps member. After teaching, I always thought about giving back to my community, people and state what they actually deserved. I realised what Karl Marx said that the power of production and economy was in the hands of proletariats. The proletariats were the people who were always deprived. They lacked development. They lived in shanties and squalor. That still happens in today’s world. So, my dream was built on this conviction. Also, I took inspiration from my father, who was well privileged. Every day of his life, he was feeding over 200 people. He took care of the less privileged within his domain. When I asked my father why he was doing that, he told me that my mother’s background was much better than his and that he had always wanted to make life comfortable for every poor person. My father was the Adedibu of Rivers State,

We were all created equally. Even in the paradise we all hope for as Christians, everybody is equal. Since we are created in the image of God, my intention is whether we can recreate things here on earth, first to make everybody equal; provide basic things for everybody and ensure happiness of everyone. Of course, the western countries are achieving that. Why can’t we achieve that? What is the problem with Africa? What is the problem with Nigeria? And what is the problem with Rivers State? We have all the wealth. We have all the mineral resources. We have all the raw materials. If the West could come and get our raw materials to better their countries, we too can do that. We can provide for every single person in this country.

Beke probably bigger than Adedubu because my father fed over 200 people everyday and gave scholarships. He gave everything he had back to the less privileged. So, I took a lot of inspiration. I was privileged to go to England in the 1970s. I was also privileged to attend the University of Buckingham. My heart has always been with my people, who are less privileged. Those who came from Ikwerre know this about me. They know I am the prince of the masses. That is who I am and that is what I represent. I am inspired to give back to my people what they could have got since democratic transition in 1999.

You are contesting the PDP that has been in control of Rivers State for 23 years. Are you conﬁdent of defeating the state’s ruling party? The truth is I was the youngest man among political leaders that put PDP together in Rivers State. When PDP was put together, Dr. Peter Odili was not in PDP. He is the main boss of everything that happened in Rivers State since 1999. He was in the All Peoples Party (APP), now defunct. Governor Nyesom Wike was unknown. But I was known. As a young man, I was a major player when we were attending all those old meetings. Alhaji Bamaga Tukur can attest to that. Today, PDP has been in charge of Rivers State because of what we created. In the past 23 years, we know that election results have been written. Nobody can claim to have the power of incumbency anywhere. Since the election results in the past 23 years, the

Independent National Electoral Commission (INEC) has assured us that our votes will count now. The next elections will be a real acid test to the power of incumbency of PDP. I believe the people of Rivers State will be voting for personality and not the political party because this party structure is weak. The party has not been able to deliver anything. So, the people of Rivers State are about to do something new. God is about to do something new. I believe I am something new for Rivers State. Of course, APGA won the 2011 governorship election under Sir Celestine Omehia. APGA was rigged out. I am aware of this. The result was written. This time around, they can shout as much as they can. Come 2023, Rivers State will be in the hands of APGA. Beyond the conﬁdence you have exuded, you are from Ikwerre just like Governor Nyesom Wike and his predecessor, Mr. Rotimi Amaechi. Don’t you have the moral burden that the time is not ripe for another Ikwerre man to be governor? You are talking about zoning principles. I have never been an advocate of zoning principles. Zoning is undemocratic. It is unethical in terms of human rights. We are assured that at any given time, even my children can participate in the democratic process in the country. You cannot short-change them because you want to zone out. Zoning is undemocratic. I think it cannot give the best result. Zoning further divides Nigeria. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

THURSDAY NOVEMBER 24, 2022 • T H I S D AY

T H I S D AY ˾ THURSDAY, NOVEMBER 24, 2022

GAMINGWEEK

Edited by NSEOBONG OKON-EKONG | ikotibok@gmail.com | Tel: 08114495324

Bookmakers Bet on Brazil to Win World Cup John Bamidele states why bettors favour Brazil to win the 2022 World Cup, which kicked-off at Al Bayt Stadium in Al Khor, Qatar, on November 20

t’s hard to believe because it’s currently November and not June, however, will the 2022 World Cup be won by Brazil, the betting favorite? Or could France become the first nation to repeat the feat to win the world cup consecutively since 1962? Is Spain’s new golden generation piloted by teenagers like Barcelona midfielders Gavi and Pedri as good as its previous golden generation? Does Lionel Messi have enough left in the tank to lead Argentina to glory and further cement himself as the G.O.A.T.? Is football finally coming home? Which squads could shock the world? Is there any shine left on Belgium’s underachieving golden generation? These were the questions on the mind of bookmakers.

FRONT-RUNNERS The obvious team to start with is Brazil. The Seleção has the shortest betting odds to win in Qatar. Brazil is also ranked first by the FiveThirtyEight Soccer Power Index. Its squad features superstars from the world’s biggest and most competitive leagues — players like Alisson (Liverpool), Casemiro (Manchester United), Gabriel Jesus (Arsenal), Neymar (Paris Saint-Germain), Raphinha (Barcelona) and Thiago Silva (Chelsea). In fact, Brazil is so stacked up front that it left Liverpool forward Roberto Firmino off the squad, despite the fact that he ranks ninth in the Premier League in non-penalty expected goals per 90 minutes. Spain. La Roja enters the tournament in something of a strange position probably not as great as the iteration that won three consecutive major tournaments from 2008 to 2012 but certainly good enough to be

considered a contender. Our model thinks Spain is the second-best men’s national team in the world, and gives it the second-best odds at winning in Qatar (11 percent). Jordi Alba and Busquets are the only players remaining from the team that completed an historic treble at Euro 2012 in Kyiv. France, the defending champion enters the tournament with the third best odds according to our model (9 percent). Les Bleus have plenty of continuity; from their cup-winning squad four years

ago. For instance, Ousmane Dembélé, Olivier Giroud, Antoine Griezmann, Hugo Lloris, Kylian Mbappé, Benjamin Pavard and Raphaël Varane. However, the current Ballon d’Or holder Karim Benzema got injured during training in Qatar and missed going to the World Cup. With Benzema out, the likes of Dembélé and Mbappé are still a threat and France will be amongst the most dangerous teams in the attacking third in Qatar. Finally, there’s Argentina. La Albiceleste will likely go as Messi

goes. Messi is 35 now, but he’s still among the game’s elite players. After a slow start to his time in Paris, he’s now shredding Ligue 1 defenses with the same regularity he shredded La Liga defenses for the previous decade plus. The same is true in the Champions League. So far this season, Messi has 26 goal contributions in just 19 matches across all competitions. Messi has probably done enough in his career to stake sole claim to the G.O.A.T. moniker, no matter what happens in Qatar. But a World Cup championship would remove any doubt.

Sportsbook Marketing Tips for the World Cup As the World Cup in Qatar begins, sportsbook marketing teams deploy formula that will deliver impressive levels of player acquisition and retention, and a return on their substantial investments in promotional campaigns, writes John Bamidele Traditional tactics such as bonuses, free bets and newspaper advertising still has a role, while a combination of free-to-play games, programmatic re-targeting and a holistic social media strategy could help operators to achieve more of their goals during the tournament. Operators have started to approach their acquisition campaigns differently by launching prediction-style, free-to-play games that drive meaningful, daily engagement. This tactic converts new players and lowers CPAs but with the added benefit of greater loyalty and higher player value throughout the tournament. For Sportsbooks to make the best of World Cup in Qatar these strategies spring to mind:

FREE-TO-PLAY COMPETITIONS Free-to-play competitions have proven to build daily engagement. They keep players returning to your site where, via free bet incentives and odds promotions, you can

convert them to real-money betting markets with high conversion rates.

PROGRAMMATIC TARGETING

We have seen great results with programmatic re-targeting. Using personalized creative based on individual user profiling, marketers can re-engage dormant players, for example those who abandoned their bet slip, have not logged in within the last 48 hours or not deposited in the past week.

GOOD SOCIAL MEDIA STRATEGY

A holistic paid and owned social media strategy is highly effective. World Cup engagement on Twitter and Facebook will be 24/7 and to convert, operators need to be top of people’s feed with relevant, live data and odds-driven content as big moments occur – be that team news or a goal being scored.

PREDICTOR GAME STRATEGY

At tournaments like the World Cup, predictor games tend to perform extremely well because they attract new and casual audiences that can be successfully cross sold into the betting markets. This tried-andtested approach has proven to be highly effective in increasing operators’ new customer conversion rates. These games can range from contests that allow players to predict the first goal scorer across the next six matches, to more daily, frequent predictors that combine outcomes like who will win the match, which player will score first and the total goals in a single fixture.

ADVERTISING

The world Cup advertising space can be very noisy. Both in the run up and throughout the tournament, it is essential that any creative executions are contextual and relevant to your customers. The key lies

in dynamic data like live scores, odds, match stats and kick-off countdown clocks. Whether through display advertising, social media or connected TV, embedding this data into your creative will immediately capture fan attention and ensure meaningful connections.

EDUCATION

It is worth noting that a lot of new players will be wagering for the first time so are more likely to be betting pre-game to begin with. This provides operators with a big opportunity to then educate these players as to the other exciting betting options available to them and incentivize customers to, perhaps try in-play for the first time. They may also want to highlight cash out, live markets and other fast-paced betting products. This is the sort of ‘beneficial’ behavior operators will then want to reward through other bonuses and offers, however, it must be done responsibly and with safe gaming in mind at all times.

Dr. Sid: Set to Pop More Champagne with Gaming Nseobong Okon-Ekong

he restless disposition that has fired the ambition of Dr. Sidney Onoriode Esiri; better known as, Dr. Sid; pushing him to abandon his training as a dentist may have finally found fulfilment as he pours all his energy and investment into the gaming Industry. Hitting the entertainment limelight in 2010 with the anthem, ‘Pop Something,’

which featured D’Banj, it became a celebratory song, which heightened the cheerful mood at parties. But apart from his fame as an entertainer, Dr. Sid considers himself a film maker. Lately, however, he is more at home with being introduced as the Founder of Kon10dr, a thriving platform for eSports and gaming. Earlier in the month, Dr. Sid was part of the Nigerian delegation to the #ParisGamesWeek, where he showcased his platform at the conference. Excited at the prospect

s for gaming and eSports in Africa, Dr. Esiri who has just appointed a Chief Operating Officer to run an extension of his gaming business called Sidizensgaming wrote on Twitter, “The price for success is hard work, dedication to the job at hand and the determination that wether we win or lose, we have applied the best of ourselves to the task at hand.” His company is already sponsoring an eSports tournament, ROG PC Masters league, which has further deepened his reputation as a gamer and streamer.

T H I S D AY ˾ THURSDAY, NOVEMBER 24, 2022

GAMINGWEEK

FG, States’ Lotteries Board Tango on Regulatory Jurisdiction The regulatory tussle between the National Lottery Regulatory Commission and the states over who has the power to regulate lotteries and gaming in Nigeria is a major hindrance to rapid growth and development of the gaming industry, writes Nseobong Okon-Ekong

he August 2022 Federal High Court ruling may given a phyrric victory to the National Lotteries Regulatory Commission (NLRC) and the Association of Nigerian Bookmakers (ANB), but the ink hadn’t dried on the paper on which the judiciary statement was written when the Lagos State Lottery and Gaming Authority (LSLGA) led an assortment of states gaming board to file an appeal; asking that the status quo ante be retained until the appeal it institutes at the Federal Court of Appeal to vent it’s displeasure at the pronouncement of the high court is decisively dealt with. Essentially, the state lotteries boards are saying that not minding whatever is demanded of operators in the gaming industry by the Federal Government regulator, they must, additionally, meet demands from the states. To be sure, the regulatory tussle between the NLRC and the states has been going on for many years. These legal fireworks over who has the power to regulate lotteries and gaming in Nigeria is a major hindrance to rapid growth and development of the

gaming industry in Nigeria. While it is true that foreign brands are attracted to the country by the increasingly high number of the gaming population, a couple of them have either made a quick exit or limited their operations

owing mainly to the disagreement between regulatory bodies. As things stand currently, operators of lotteries, gaming and related activities are burdened with the yoke of making double payment to the

Messrs Rami Abi Ramia, VP, Africa Operations, Pragmatic Play (left) and Solomon Godwin, Senior Business Development Manager, Africa Continent, Pragmatic Play at a recent igaming event in Malta, Sigma Europe 2022, where the company’s website, www.pragmaticplay.com won the Sigma Award in the Game of the Year Category with its game Sugar Rush

When Netflix introduced its streaming platform back in 2007, not a few betted on its survival. Today, the company is recognized as a streaming giant with about 222 million subscribers across the globe as of September 2022. Vanessa Obioha writes that a similar business model is being deployed to the gaming industry

The story continues online on www.thisdaylive.com

PRAGMATIC PLAY SHINES AT SIGMA AWARDS…

The Future of Gaming Looks to Cloud Gaming

hough its business model has not really worked as planned with revenues dipping this year, Netflix however introduced a model that most film studios have copied. Think of Disney, HBO, and Amazon, they all have tapped into the streaming platforms with hopes that this innovation may start rolling in big money in the future.

Federal Government through the NLRC and also compelled to make similar payments to various state lottery boards.

Can the same be happening in the gaming industry through cloud gaming? To be sure, cloud gaming is the process of streaming a video game through an internet connection via a remote server. It does not require one to download or install a title, rather a player has instant access and plays a Cloud-compatible title as long as a stable internet connection is maintained. Like streaming, it is an

innovation that is expected to add value to the gaming industry. According to Gamerant, it is a growing facet of the new generation of hand-held consoles. What this means is that gamers need not have all the excessive hardware which can be expensive to enjoy gaming. The demand for cloud gaming has been soaring. A forecast by Newzoo estimates that cloud gaming can reach $6.3 billion in global consumer spending

by 2024. In another report published in Global News Wire, the global cloud gaming market is expected to expand rapidly due to rising investments from top organisations and increased use of cutting-edge technology. The report which shared data from the recent research by Facts and Factors predicts that the global cloud gaming market size in terms of revenue was valued at “USD1,592.40 million in 2021 and it is expected to hit around USD13,333.41 million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 42.50% during the forecast period 2022 to 2028.” Factors responsible for the demand include the ubiquity of the internet and with most countries on the 5G network that offers larger bandwidths and lower latency, players find it easy to stream X.R. games effortlessly. The adoption of smartphones is another factor for the market growth as well as the growing popularity of mobile gaming and the digitalization of gaming technologies. In addition, its ability to reduce the amount of data stored makes it more appealing to gamers. The story continues online on www.thisdaylive.com

Super Lotto Games Boost Pan-African Reach with Goat Interactive John Bamidele Superlotto Games, an innovative developer of online live lottery, instant games and slots has taken its product portfolio live with GOAT interactive, a leading operator group servicing the African continent. This new and exciting partnership will see Superlotto Games deliver its product suite to GOAT Interactive’s multiple operator brands including Premier Bet, one of Africa’s most successful operators. Quickly establishing itself as a studio renowned for delivering fast-paced and engaging titles, Superlotto boasts hugely impressive levels of player engagement and retention of operator. One of the studio’s shining example of its

bespoke games production is the football themed title Football, with GOAT Interactive the first to take advantage of Superlotto’s bespoke, customizable branding format for its games. Designed to drive incremental revenue during this year’s World Cup, this game is sure to prove a key stepping stone for improved customer acquisition and retention ahead of the historic tournament. This collaboration is the latest in a series of positive developments for Supperlotto, having recently received BMM certification for South Africa with extensive plans to continue building on its already impressive presence on the continent. Commenting on the partnership, Milda Mikelioniene.

10Bet Continues Expansion in Africa with South African License John Bamidele 10bet, global gaming operator has announced the launch of its trusted online sportsbook and games offering in South Africa. With 20 years of experience in international markets, this latest move highlights the sportsbook’s commitment to expanding further into Africa, one country at a time. Currently live in Tanzania, Kenya, Zambia and Ghana, 10bet is committed to providing a product that is locally relevant and tailored to its African audience. The premium sportsbook features a user-friendly interface, offers over 2000 betting markets, more than 25 000 live events per month, as well as industry competitive odds for the current English Premier League (EPL 2022/23), La Liga, Serie A and dozens more.

Boasting a pool of over 300 exciting games from the world’s best gaming providers including NetEnt, Evolution and Yggdrasil, 10bet provides a mix of exciting instant and live games for online game lovers all over South Africa. With convenience at its core, the 10bet App is compact, fast and easy to use. Customers can view the latest matches and place bets, access and play games as well as make deposits and withdrawals, all from the palm of their hands. The App is available for download on the 10bet website and via the Huawei App Gallery. In addition, 10bet provides safe, secure and convenient payment methods such as vouchers, card payments and mobile money options from the country’s major deposit and withdrawal providers.

GAMINGWEEK TEAM Nseobong Okon-Ekong ikotibok@gmail.com | 08114495324 John Bamidele amostogun@yahoo.com | 08022212236 Akeem Lasisi lasaisai@yahoo.com | 08023687884 Vanessa Obioha vysylver@gmail.com | 08069838305

THURSDAY NOVEMBER 24, 2022 • T H I S D AY

T H I S D AY ˾ THURSDAY, NOVEMBER 24, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

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

08056356325

N O V E M B E R

S & P INDEX

2 3 , 2 0 2 2

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EXCHANGE RATE

OPR

11.25%

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613.31%

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COP 27: African Businesses Urged to Operate New Strategies for Sustainable Growth

Emma Okonji As the 27th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP 27), ended on Sunday November 20 in Sharm el-Sheikh in Egypt, African business owners have been urged to leverage the opportunities offered by the conference, to operate new strategies that would drive sustainable business growth and address the effects of climate change across Africa. Managing Partner at Verraki

Advisory Practice, Mr. Olaniyi Yusuf, who made the call, said time has come for global leaders to address the devastating effects of climate change that have affected the African continent for too long a time. He said his firm would continue to provide digitally transformative services to the African market, leading the way to deliver cutting-edge innovation solutions to local organisations, while unleashing their growth potential. Stressing the need for

sustainability of African businesses and the future generations, Yusuf said: “Sustainability in business therefore demands that companies deliberately operate a business strategy that reduces the negative environmental and social impacts of their operations. Such practice is typically viewed from the lens of environmental, social, and governance (ESG) metrics such as greenhouse gas emissions, water security, energy efficiency, diversity and inclusion, data protection and privacy, board composition, shareholder

rights, amongst others. The environmental aspects of ESG metrics focus on the company’s impact on the planet, such as climate-change initiatives.” He urged African businesses to see ESG as a tool to drive climate compliant business objectives, and an opportunity to invest in digital technology, improve energy management efficiency, deploy automation, preserve water resources, and eliminate waste, adding that African businesses can leverage the current global push for climate action to drive

resilient, and sustainable growth. From a sustainability viewpoint, Yusuf said net zero agenda remained a good opportunity for African businesses with credible de-carbonization plans to strategically position for resilience and growth. “On the energy front, businesses need to accelerate investments in renewable energy to manage energy cost on one hand, and to position for long-term strategic business growth on the other hand. African businesses need to take advantage of the expanding

climate finance opportunities for business growth, particularly via green bonds issuances, insurance, and blended finance. This is a good time for African businesses to seek scale and scope expansion through innovative and sustainable products, services and operating models. Companies must also invest in training and development of their staff on climate change and sustainability to ensure availability of talents and capabilities required to put Continued on page 22

Report: Hackers Commercialise Cybercrime, Launch Innovative Ransomeware Attacks

Emma Okonji

Sophos, a global leader in innovating and delivering cybersecurity as-aservice, has published its 2023 Threat Report, which detailed how the cyber threat landscape has reached a new level of commercialisation and convenience for would-be attackers, with nearly all barriers to entry for committing cybercrime removed through the expansion

of cybercrime-as-a-service. The report also addresses how ransomware remains one of the greatest cybercrime threats to organisations with operators innovating their extortion tactics, as well as how demand for stolen credentials continues to grow. According to the report, criminal underground marketplaces like Genesis have long made it possible to buy malware and

malware deployment services, as well as to sell stolen credentials and other data in bulk. Over the last decade, with the increasing popularity of ransomware, an entire ‘ransomware-as-a-service’ economy sprung up. Now, in 2022, the ‘as-a-service’ model has expanded, and nearly every aspect of the cybercrime toolkit, from initial infection to ways to avoid detection, is available for

purchase. Analysing the report, Principal Threat Researcher at Sophos, Sean Gallagher, said: “This isn’t just the usual fare, such as malware, scamming and phishing kits for sale. Higher rung cybercriminals are now selling tools and capabilities that once were solely in the hands of some of the most sophisticated attackers as services to other actors. For example, this

past year, we saw advertisements for OPSEC-as-a-service where the sellers offered to help attackers hide Cobalt Strike infections, and we saw scanning-a-service, which gives buyers access to legitimate commercial tools like Metasploit, so that they can find and then exploit vulnerabilities. The commoditisation of nearly every component of cybercrime is impacting the threat landscape

and opening up opportunities for any type of attacker with any type of skill level.” With the expansion of the “asa-service” economy, underground cybercriminal marketplaces are also becoming increasingly commodified and are operating like mainstream businesses. Cybercrime sellers are not just

Continued on page 22

M A R K E T D ATA A S AT W E D N E S D AY, N O V E M B E R 2 3 , 2 0 2 2 BILLS

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

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Change Updated Time (%) 0.00 November 18, 2022 -0.07 November 18, 2022 -0.28 November 18, 2022 0.00 November 18, 2022 -0.32 November 18, 2022

MATURITY NTB 26-Jan23 NTB 9-Feb23 NTB 9-Mar23 NTB 27-Apr23 NTB 11May-23

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Change Updated Time (%) -0.01 November 10, 2022 0.00 November 10, 2022 0.00 November 10, 2022 -0.01 November 10, 2022 0.00 November 10, 2022

MATURITY FDHP CP III 17-MAR-23 VHPL CP III 1-APR-23

Change Updated Time (%) 1.46 November 16.46 15.63 18, 2022 19.74 19.74 1.08 November 18, 2022

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CONTRACT TENOR Contract (MONTH) NGUS NOV 30 1 2022 NGUS DEC 28 2 2022 NGUS JAN 25 3 2023 NGUS FEB 22 4 2023 NGUS MAR 29 5 2023

Current Rate Updated Time ($/₦) November 454.73 18, 2022 November 456.93 18, 2022 November 459.12 18, 2022 November 461.32 18, 2022 November 463.51 18, 2022

THURSDAY, NOVEMBER 24, 2022 ˾ T H I S D AY

BUSINESSWORLD

BRANDS AND MARKETING

Strengthening Relationship with Consumers Raheem Akingbolu writes on the emerging competition in the spirit market and how brand positioning and effective customer reward system can sustain brand loyalty

n recent times, more brand promoters are waking up to the need to sincerely factor in consumer’s interest into their consumer behaviour mechanism for their products to gain top-of-mind awareness (TOMA). There is no gainsaying the fact that the first brand that comes to mind when consumers think of a certain niche, product or industry has achieved top of mind awareness. However, not all consumers will think of the same brand, but the results offer a clear indication of which companies are most popular within an industry. In Nigeria’s spirit and gin market, it has almost become a herculean task for brands to easily get top-of-mind awareness because of market saturation. Though a big market, there are scores of brands -big and small, competing for attention, hence the need for brand owners to think out of the box. It’s worth noting that sometimes the first brand people think of is one they dislike or one that was recently embroiled in a scandal. So TOMA can have negative associations. However, being ‘top of mind’ is usually a big plus for brands. Globally, rebranding, customer reward, price and promotions have been identified as marketing strategies to reinforce existing relationships between organisations and customers who are global citizens resident in a locality. Advertising also falls into this category but it can only work when the brand has gotten a genuine story to tell. In all, the primary reason is to ensure brand loyalty and generate profit. Employment of these strategies by organisations is with understanding that consumer loyalty is pre-requisite for success in a highly competitive environment like the Nigerian market. But more important to customer reward and promotions is the drive of value and trust. As market records new entrants, existing brands change gear to either crash the price or flag off promotion. However, whichever way the pendulum swings, consumers are always at advantage because they will not only get value for their hard-earned money, they will also get incentives.

NIGERIA’S WINE SPIRIT MARKET

With many business owners within and outside the African continent looking in the direction of the Nigerian market, the terrain appears to have become more competitive. Consumers too seem to have become more sophisticated and selective. As a result of this, each of the players in the spirit market is engaging the market through different positioning approaches to gain a competitive edge. Of course, some have come out with feedback of good results while some have failed. Business owners are fond of publicity stunts and marketing strategies to push their brands in the marketing place. In Nigeria, two sectors – the fast-moving consumer goods and food and drinks, appear to be the most popular in this regard. Meanwhile, a recent global forecast of wines and spirits market projected that the value may reach $1,122,578 million, and is expected to grow at 4.8 per cent by 2022. Luxury Wines and Spirits Market was valued at $971.2 Billion in 2020 and is projected to reach $1,213.8 billion by 2028, growing at a CAGR of 5.25 per cent from 2021 to 2028. Nigeria’s spirit market is worth over $2 billion and also to grow at six per cent on average per year, according to a published report by the United States Department of Agriculture (USDA) in their Global Agricultural Information Network (GAIN).

CRAVE FOR MARKET LEADERSHIP

The peculiar challenge facing businesses in Nigeria notwithstanding, the attractiveness of the market has continued to spur the players in the spirit market to deepen their market penetration. For instance, in a bid to foster good relationship with her distributors, Intercontinental Distillers Limited (IDL), has rewarded her distributors with cash and various gifts during their Annual Distributors Award held in Ogun State, recently. The event also witnessed the relaunch of two brands, Eagle Aromatic Schnapps and Commodore Aromatic Schnapps. Head of Sales, Hope Gbagi, said 2021 was filled with many challenges but notwithstanding many of the distributors improved with their performances, stressing that the company will continue to nurture and develop their relationship. He added that the IDL ceremony and its content have made the company to continue to be the talking point amongst peers in the Wine and Spirit industry. Managing Director of IDL, Patrick Anegbe said IDL will not shy away from the economic challenges the distributors are facing in order to build a lasting partnership. During the award presentation, Managing Director of Ogbohu Enterprises, Ota, Mrs Dorothy Anegbe, emerged as the overall winner with Managing Director, Chubbybros Enterprises Limited, Mushin, Emmanuel Ogbata as runner up. Both distributors were rewarded with cash and a brand-new delivery truck each “Today marks a new beginning in the Wines and Spirits Business in Nigeria and indeed Africa, with the reintroduction of two ionic Schnapps brands (Eagle and Commodore Aromatic Schnapps) both redefining the rules of engagements within the Category and the markets respectively.

“The Markets have been littered with imitations and “me toos” of both Eagle and Commodore Aromatic Schnapps for too long a time. Much as counterfeiters, fakers and adulterators have tried so hard to take their place in the markets, we know that no one can match our Schnapps brands, because for decades, the finest ingredients known to man, makes them what they are and nothing can change that,” Head of Marketing at IDL, Mobolaji Alalade, stated. According to him, when the Eagle felt uncomfortable with the status-quo, it rejuvenated itself and moved some notches up in the skies. “Eagle Aromatic Schnapps, the true symbol of our tradition, has redefined originality! By this unveiling today, it is now undoubtedly the Authentic prayer drink,” he added. The new Eagle Schnapps, now comes in a new, trendy, glamorous, category defining artfully shaped new bottle, the cap is indeed the majestic crown of elegance, that is first in its class, the bottle label personifies the new Eagle spirit and the new majestic pack consolidates its authenticity with a bolder and Eagle Headed crest emblem. The entire body partered with authentic Nigerian motifs symbolized with our traditional artistry such as African drums, shields, crowns and marks encapsulated with audacious Eagle inscriptions engraved on both sides of the gift pack. It is also important to state that the new Commodore Aromatic Schnapps is a beauty to behold. The bottle, sleek with a trendy neck, which makes it easy to grab and hold. The new pack is authentic beauty, an ensemble of vibrant colours, an embodiment of the true diversity of our culture and tradition, indeed Commodore Aromatic Schnapps is the spirit of answered prayers. While describing this as a landmark achievement, Alalade admitted that “This is a great day! It is also a new dawn for business, because as our partners, you will make more sales, more money and more profit with these relaunched brands. Therefore, let us all go and

make these brands a huge success in the markets across Nigeria and beyond,”

TRADE PARTNERS REWARD, RE-LAUNCH

Beyond advertising and marketing, all the players have consistently invested in reward schemes to strengthen relationships with distributors and consumers. In spite of the challenges facing the industry, IDL, according to its Managing Director, Patric Anegbe, has worked hard to ensure that the company’s products are always available and Customers’ complaints promptly resolved at all times. Again, to sustain loyalty of its patrons, the company recently held her annual Distributors awards and the relaunch of its Eagle Aromatic Schnapps and Commodore Aromatic Schnapps. According to Anegbe, the 2022 edition was a special event because it was coming up after two years of a similar event as a result of COVID-19 pandemic. He said, “Today has been set aside by IDL Management to appreciate and reward our esteemed distributors for doing business with us in the last financial year, 2021. We have chosen the theme “Partnership that works” for this year’s Award ceremony. This is because our business relationship with you over the years has grown beyond that of just distributors and suppliers. We now see you and relate with you as our partners and your business as an extension of our own business. “Some of you have been doing business with us now for over 30 years. Some 25 years, 20 years, 15 years and 10 years and we are still doing business together till today. We value and appreciate your patronage and loyalty to our company. I want to assure you that IDL will do everything possible to maintain this good business relationship we have built together over the years,” he stated. The Managing Director pointed out that the company valued hard work and recognized the fact that the growth in the distributors’ business had also reflected in growth in the company’s business, hence, what he termed the “WIN-WIN” reward policy as contained in IDL’s customer’s incentive schemes -the more you buy, the more you benefit.

COP 27: AFRICAN BUSINESSES URGED TO OPERATE NEW STRATEGIES FOR SUSTAINABLE GROWTH climate capital to work and capture value for stakeholders,” Yusuf said. He advised industry regulators to continue to push for improved climate disclosures, especially for listed African businesses, adding that it will help in one

hand to attract more climate finance to Africa, and catalyse improvements on how companies design products, source materials, and manage their supply chains with least carbon intensity. According to him, Verraki strongly believes that African

businesses that move quickly to begin the operation of the difficult and often transformational climate friendly business strategy, will emerge as winners in a decarbonized world. The COP is the largest annual gathering on climate action and

seeks to address the existential threats posed by climate change to humanity, such as growing energy crisis, record greenhouse gas concentrations, and increasing extreme weather events, through a multilateral and multi-stakeholder advocacy

to deliver on the landmark 2016 Paris Agreement, for people and the planet. An interesting highlight at the COP 27 was discussions on ‘loss and damage’ finance mechanism, which over 130 developing countries successfully

brought to the agenda for the first time. Questions about ‘who pays’ and ‘who gets paid’ for the climate ‘loss and damage’ will likely dominate climate action deliberations over the coming months and years.

REPORT: HACKERS COMMERCIALISE CYBERCRIME, LAUNCH INNOVATIVE RANSOMEWARE ATTACKS advertising their services but are also listing job offers to recruit attackers with distinct skills. Some marketplaces now have dedicated help-wanted pages and recruiting staff, while job seekers are posting summaries of their skills and qualifications, the report added. According to Gallagher, “Early ransomware operators were rather

limited in how much they could do because their operations were centralized; group members were carrying out every aspect of an attack. But as ransomware became hugely profitable, they looked for ways to scale their productions. So, they began outsourcing parts of their operations, creating an entire infrastructure to support ransomware. Now, other

cybercriminals have taken a cue from the success of this infrastructure and are following suit.” Gallagher further said: “When we talk about the growing sophistication of the criminal underground, this extends to the world of ransomware. For example, Lockbit 3.0 is now offering bug bounty programs for

its malware and ‘crowd-sourcing’ ideas to improve its operations from the criminal community. Other groups have moved to a ‘subscription model’ for access to their leak data and others are auctioning it off. Ransomware has become, first and foremost, a business,” said Gallagher. The evolving economics of the underground has not only

incentivized the growth of ransomware and the “as-a-service” industry, but also increased the demand for credential theft. With the expansion of web services, various types of credentials, especially cookies, can be used in numerous ways to gain a deeper foothold in networks, even bypassing MFA. Credential theft also remains one of the easiest

ways for novice criminals to gain access to underground marketplaces and begin their “career.” The Sophos 2023 Threat Report consists of research and insights from Sophos X-Ops, a new, crossoperational unit that links three established teams of cybersecurity experts at Sophos (SophosLabs, Sophos SecOps, and Sophos AI).

T H I S D AY ˾ THURSDAY, NOVEMBER 24, 2022

BUSINESSWORLD

E-BUSINESS

5G Rollout, Broadband Penetration and Spectrum Auction Having successfully auctioned two lots in the 3.5GHz spectrum band in December 2021 to MTN Nigeria Communications Plc and Mafab Communications, the Nigerian Communications Commission, has commenced the process of auctioning additional two lots in the same spectrum band to interested telecom operators, a development that will further deepen broadband penetration and encourage fair competition in the rollout of 5G services across Nigeria, writes Emma Okonji

G technology, also known as the fifth generation technology, is expected to bring a lot of benefits and opportunities that will engender accelerated growth and smart living in the country, when fully deployed. The technology is also expected to bring substantial network improvements, including higher connection speed, mobility and capacity, as well as low-latency capabilities. 5G is projected to contribute $2.2 trillion to the global economy by 2034, according to a 2020 GSMA Intelligence report, titled: “The Mobile Economy.” In order to harness all the benefits of 5G, NCC, as the telecom industry regulator, needed to release the scarce spectrum that will enable operators rollout 5G across the country. To achieve this, NCC, in December 2021, successfully auctioned two lots in the 3.5GHz spectrum in a keenly contested bid process among MTN Nigeria Communications Plc, Mafab Communications Limited and Airtel Nigeria Communications. At the end of the exercise, NCC declared MTN and Mafab winners of the two frequency lots and gave them timeline to make payment for the 5G frequency licence before issuance of the licence. In May this year, the management of NCC, led by its Executive Vice Chairman, Prof. Umar Garba Danbatta, confirmed the issuance of 5G licence, after payments were made by the operators. Following the successful auction of the 5G spectrum in December last year, and the successful commercial rollout of 5G network this year, by MTN Nigeria, NCC decided to auction additional two lots in the 3.5GHz spectrum, to further drive broadband penetration and 5G rollout in Nigeria. NCC has fixed December 19, 2022 for the next round of auction and has released the final Information Memorandum (IM) that will guide second auction process.

STAKEHOLDERS’ CONSULTATIVE FORUM

To further drive its intention to auction the additional two lots in the 3.5GHZ spectrum for 5G rollout, NCC, last week, held a stakeholders’ consultative forum in Lagos, where it presented the draft Information Memorandum (IM) about the auction, to stakeholders, for their inputs. Addressing the stakeholders in his opening remarks, the Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta, said: “As a world class communications regulatory agency, we believe that our actions must be guided by decisions that take into cognisance the input from stakeholders in the industry. Therefore, we seek your active participation in these deliberations towards the licensing of the available two lots in the 3.5GHz mid band spectrum for the rollout of 5G services in Nigeria. Arising from the significant increase in broadband penetration in Nigeria, it has become vital for us to move to the next phase of global development of the sector, given the opportunities that abound for all stakeholders in the industry and the economy at large.” Danbatta further said: “Therefore, in line with our Strategic Vision Plan 2021-2025, which among other things, seeks to promote fair competition, inclusive growth, increased investment and innovative services,

and also facilitate strategic collaboration and partnership, we intend to further deepen broadband penetration and encourage fair competition in the rollout of 5G services in Nigeria by auctioning the available lots in the 3.5GHz spectrum band.” According to him, the mandate of the Commission is to facilitate investment while also providing a platform for entry into the Nigerian market for the provision and supply of communications services, equipment and facilities, and promotion of fair competition in the communications industry. “Following the successful auction of the initial two lots in December 2021, the Commission has received requests to administratively licence the available lots at the previous auction fee. However, the Commission, in line with its powers under the Nigerian Communications Act 2003, has decided to licence the available lots in the 3.5GHz band through the auction method, which is a transparent and efficient approach that can open up opportunities for new entrants as well as deepen competition in the industry,” Danbatta further said.

OPERATORS’ REACTIONS

During the presentation of the draft IM by the Head, Spectrum Administration Department at NCC, Abraham Oshadami, he announced the reserve bid price for the auction as contained in the draft IM, which NCC pegged at $273.6 million, high above the $194.7 million reserve bid price for the same spectrum band that was auctioned in 2021, a development that elicited reactions from operators who kicked against the hike. According to Oshadami interested operators are to make a non-refundable Initial Bid Deposit (IBD) of 10 per cent of the reserve bid price. Worried about the hike in the reserve bid price, a representative from Huawei Technologies, expressed surprise that NCC could raise the reserve bid price from $194.7 million in 2021 to $273.6 million in 2022, and called on NCC to cut down on the bid price, to enable more operators participate in the bidding process. In its submission at the stakeholders’ forum, Airtel, which took part in last year’s bid, but withdrew at the eleventh round, when the bidding process was at its peak, told the NCC to consider its participation in last year’s bidding process and grant it the administrative privilege to buy one of the lots at the reserve bid price, without bidding with other operators. MTN, which is also interested in the next 3.5GHz spectrum auction, told NCC that it would be unfair if MTN was not allowed to bid for the next auction, having paid premium to attain the 3.5GHz lot it currently has. MTN, Mafab and Airtel, had last year, participated in the auction of the initial two lots in the 3.5GHz spectrum, and all three commenced bidding from a reserve bid price of $194.7 million, fixed by NCC, until they

reached a winning bid price of $273.6 million.

NCC’S RESPONSE

Responding to stakeholders’ reactions, the Executive Commissioner, Technical Services at NCC, Mr. Ubale Maska, said the hike in the reserve bid price was justified, because spectrum licence has appreciated after it was auctioned last year. According to him, the market price for the lot on offer has been determined by the last auction. He also said it would only be fair to all operators, if Airtel would participate afresh in the next auction. He said the Commission would look into the case of MTN that is requesting to participate in the second auction, after participating and winning in the initial auction that was carried out last year. He said NCC would revisit the request and take a decision that would be of best interest to all operators and industry stakeholders. He assured all stakeholders that their requests and concerns would be addressed in the final IM that has just been released by the NCC.

DESIRE FOR ANOTHER 5G SPECTRUM

Disregarding the perceived fears envisaged by the telecoms industry regulator and the industry stakeholders that MTN Nigeria may dominate the 5G space and create market monopoly for itself, if allowed to participate in the next 3.5GHz spectrum auction that is coming up on December 19, 2022, the telecom operator has said it will participate to clinch another 3.5GHz spectrum licence that will to enable it expand its operations and 5G network rollout. Speaking at a stakeholders’ forum, the General Manager, Regulatory Affairs and Corporate Relations at MTN, Mr. Ikenna Ikeme, cited section 5.30 of the draft Information Memorandum, which discussed spectrum cap, and noted with concern, the provision of the draft IM which provides that: “the Commission places a cap of 100MHz as the maximum amount of spectrum that a licensee can acquire in the 3.5GHz band.” According to Ikeme, the IM clearly restricts operators who participated and won in the 2021 auction of spectrum in the 3.5GHz spectrum band from participating in future licensing processes. He however insisted that such winning bidder can also participate in the spectrum licensing processes, including the proposed auction of additional spectrum in the 3.5GHz spectrum band without any hindrance. MTN is of the view that if allowed to participate in the December 3.5GHz auction, it will further engender a more robust and highly competitive spectrum auction process. MTN therefore recommended that successful bidders in the prior auctions of spectrum in the 3.5GHz or indeed any other spectrum band, be allowed to participate in other spectrum auction in the country, in order to ensure that all spectrum are assigned and used efficiently.

THE FINAL IM

Following the inputs from industry stakeholders for the planned auction of additional two lots in the 3.5GHz spectrum for 5G rollout, NCC, has released the final Information Memorandum (IM) that will guide the auction process. The Commission requests all stakeholders to access the final IM for study and review. According to the IM, which THISDAY obtained from NCC’s website, the Commission would be offering the remaining lots of 2 x 100MHz TDD in the 3.5GHz Spectrum band to support the roll-out of 5G services in Nigeria. Giving the step-by-step stages of the auction, the IM explained that the next step for applicants, in accordance with the full instructions laid out within the IM, was to submit a completed application, including appropriate template documentation and confirmation of transfer of the Intention-to-Bid Deposit (IBD), by 17.00 hours West African Time (WAT) on December 5, 2022. According to the released IM, the Auction will be an Ascending Clock Auction with exit bids as described in Section 5.11 of the Information Memorandum. On completion of the auction, successful bidders will be deemed to have been awarded a provisional licence and will be required to pay the balance (winning bid amount less the IBD) of the spectrum licence fees due to the Commission on or before 20 January 2023. The IM further explained that failure to pay within the stipulated date, the award would automatically lapse and Initial Bid Deposit forfeited. The successful bidder(s) at the auction will be issued a ten year national spectrum licence that will authorise the licensee to make use of the designated part of the electromagnetic spectrum for the purpose of providing broadband services. For the rollout plans, the IM stated that the launch of commercial services shall be not later than 12 months after the effective date of the licence. The winners are expected to roll out 5G services in the first two years, starting from the effective date of the licence, in at least two states in each geo-political zone of the country: South-West (SW), South-South (SS), South-East (SE), North-Central (NC) including FCT, North-West (NW) and North-East (NE). Within three to five years, they are expected to roll out in additional six states other than those of the first two years, across the six geo-political zones. Within six to 10 years, operators are encouraged to roll out across all other states, with a minimum of five sites in each state and at a minimum speed of 100 Mbps downlink (DL) measured using the applicable test tools. Giving additional details of the auction stage, NCC said the mock auction would hold December 16, 2022, while the actual auction would hold December 19, 2022. Publication of Provisional winners and Notification of provisional award of licence, will hold December 21, 2022, while Payment for Spectrum Licence and Operational Licence (where applicable), will hold January 20, 2023. Publication of Final result will take place January 23, 2023.

THURSDAY, NOVEMBER 24, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

Tradegrid Bails out SMEs with Technology Solutions Emma Okonji Tradegrid, a business to business (B2B) marketplace platform has grown to become the largest network of independent retail stations by solving intractable problems of Small and Medium Enterprises (SMEs) through a seamless application of their proprietary technology. Its solutions, which come in four benefit packages that allow customers achieve a lot, include: Low-cost credit; a formalised and easily accessible credit option, which will allow traders and operators purchase as much product as they need and pay back as they sell; its flagship

Non-Fuel Revenue product and Increased margins, which allows traders to increase the margins on their products by cutting out redundant processes. Others include: Reduced order fulfillment time, which is greatly important considering that efficiency and value is lost in the current long waiting time it takes for traders and operators to join long queues at the depot for new products off take. Reducing this time will optimize their operations and cash flow. Transition to a cleaner Energy mix is another solution. One of TradeGrid’s Boost product is transforming the forecourt

experience from simple fueling stations to holistic multiexperience centers. Making it robust with alternative energy mixes like natural gas, EV charging, wholesome retailing like grocery marts, spare-parts e-stores etc., while also monetising its high footfall traffic and other latent assets through LED advert boards. Africa’s Large-Ticket Trade market is faced with a severe cash crunch. In sectors like fuel forecourt, which has influenced results across three key areas; credit, utilization and ownership. For Credit, given the severe cash crunch, most operators source products on credit through trust-

based supplier relationships. Most of this credit remains informal. On Utilization, most trading outlets under-utilize their facilities due to difficulties in sourcing products and maximizing margins to cover working capital costs Similarly, on ownership, most trading outlets are being operated on leases as operators embrace a more cash-flow friendly model over direct ownership Operators need access to swift product supply and formal credit systems that can be leveraged to meet their product demand while being environmentally responsible.

USTDA, Zipline to Expand W/Africa Healthcare Access with Drone Technology Emma Okonji The United States Trade and Development Agency (USTDA) has awarded a grant to global instant logistics service company, Zipline for a feasibility study to expand healthcare access in Nigeria and Ghana, using unmanned aerial vehicles. The study will facilitate Zipline’s goal of expanding its logistics services to make healthcare more accessible and affordable. Announcing the initiative, USTDA’s Director, Enoh T. Ebong, said: “Increasing access to healthcare is critical for West

Africa. Our partnership with Zipline demonstrates the role that non-traditional models of healthcare access can play in addressing this need. USTDA’s support for this project reflects the holistic approach that we are taking toward developing healthcare infrastructure and the important role that private sector companies can play in offering meaningful solutions.” US Ambassador to the Republic of Ghana, Virginia Palmer, hosted the grant signing ceremony at the US Embassy in Accra and this underscored the US government’s resolve to increase

bilateral trade and investment. Palmer said: “The United States is committed to a strong partnership with Ghana that will grow the economies while improving and even saving peoples’ lives. The project serves as an example of our whole-of-government approach, where USTDA worked closely with the US Departments of Commerce and State, and USAID, to reach today’s important milestone with Zipline.” USTDA’s feasibility study will allow Zipline to assess the viability of expanding its healthcare logistics services into new geographic areas and developing new business

models to build on its existing delivery systems. In addition to healthcare sector benefits, Zipline’s project is anticipated to increase access to e-commerce, postal, and agricultural products, and services in hard-to-reach areas, helping to stimulate local economies and reducing costs and time to access goods and services. Zipline’s Senior Vice President, Daniel Marfo, said: “Zipline has transformed the logistics and medical systems in the countries where we operate, helped save lives, and reduced negative environmental impact on the planet.

Stakeholders Harp on Economics of Network Interconnectivity in Nigeria Emma Okonji Stakeholders that attended this year’s Nigerian Peering and Interconnection Forum (ngPIF), have highlighted some insights and practical knowledge, which they believed would advance the economics of network interconnectivity in Nigeria. Conversations at the 2-day event, which saw an attendance pool of over 400 infrastructure providers, connectivity stakeholders, content providers, and policymakers, revolved around interconnectivity, peer-to-peer content sharing, local content availability, peering possibilities in underserved regions, cloud connectivity, human capacity building, education, and technology

intersection. In his opening address at the annual event, hosted by the Nigerian Network Operators Group (ngNOG), and the Internet Exchange Point of Nigeria (IXPN), the Executive Governor of Lagos State, Mr. Babajide Sanwo-olu noted that this year’s ngPIF remained relevant and of national significance. “Today, I am pleased to be among experts in the Infrastructure, Digital Content Provision, Network Services and Policymaking, as they engage, share experiences, and learn from experts in their fields,” said Sanwo-Olu, who was represented by the Lagos State Commissioner for Science and Technology, Mr. Hakeem Fahm.

THURSDAY NOVEMBER 24, 2022 • T H I S D AY

28 T H I S D AY THURSDAY NOVEMBER 24, 2022 TR

UT H

& RE A S O

Thursday November 24, 2022 Vol 27. No 10088

opinion@thisdaylive.com

www.thisdaylive.com

REMEMBERING AZUAYI ‘ZAZA’ SIMIYEI EWUGA FATAI IBRAHIM pays tribute to ‘Zaza,’ a consummate professional and pilot

See page 29

2023: A WORD FOR BAD LOSERS Candidates should learn to accept that every contest comes with victory or defeat, writes OLUSEGUN ADENIYI

See page 29 EDITORIAL

BRAIN DRAIN IN THE HEALTH SECTOR

Nigeria cannot afford to remain the world’s poverty capital, writes MONDAY PHILIPS EKPE

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T H I S D AY

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THURSDAY NOVEMBER 24, 2022

FATAI IBRAHIM pays tribute to ‘Zaza,’ a consummate professional and pilot

REMEMBERING AZUAYI ‘ZAZA’ SIMI-YEI EWUGA Before commencing her career in When beggars die, there are no comets DYLDWLRQ ¶=D]D· KHOG UROHV DFURVV WKH seen but heaven themselves blaze-forth the VROLG PLQHUDOV RLO DQG JDV ÀQDQFH DQG death of Princess” – Julius Caesar technology sectors. In 2012, she worked 6HQLRU )LUVW 2΀FHU $G]XD\L ¶=D=D· as the Executive Assistant to the Chief Simi-Yel Ewuga left a legacy of boldness, ([HFXWLYH 2΀FHU RI (WD =XPD *URXS resilience, courage, and love before she Limited; a Nigerian mining company died in a plane crash in Central Cameroon and indigenous conglomerate involved in on 11th May this year. The aircraft, with exploration and mining of solid minerals, SDVVHQJHUV RQ ERDUG ZDV Á\LQJ IURP power generation and steel production. During her National Youth Service Yaounde Nsimalen Airport to Belabo in the HDVW RI WKH FRXQWU\ ZKHQ DLU WUD΀F VHUYLFHV &RUSV 1<6& \HDU ¶=D]D· GLG KHU SULPDU\ lost radio contact. Since her untimely assignment at the Nigerian Building and death which has left a big hole in the heart, Road Research Institute, a parastatal D ORW KDYH EHHQ VDLG DERXW WKLV HͿHUYHVFHQW under the Federal Ministry of Science young lady. From the testimonies of those and Technology, where she worked as a ZKR HQFRXQWHUHG KHU ¶=D]D· KDV QR GRXEW marketing representative. Subsequently, left indelible imprints on the sands of time she worked in the oil and gas industry DV D %XVLQHVV 'HYHORSPHQW 2΀FHU DW in her short but eventful life span. %RUQ RQ WK 'HFHPEHU ¶=D]D· ZDV DuPort Marine from 2013 till 2014. Her the younger of the two daughters of Senator contributions to the company led to the acquisition of mining licenses, as well as developing a sound rapport with the mining communities. As a consummate professional who sought knowledge and experience DFURVV YDULRXV ÀHOGV ¶=D]D· FRPSOHWHG internships at various Nigeria-based companies during summer breaks from university. Two of these included working at one of the foremost investment banking companies in Africa BGL (2011) and at the renowned Huawei Technologies (2009). ,Q SXUVXLW RI KHU GUHDP ¶=D]D· DOVR had a Safety Management Systems (SMS) FHUWLÀFDWLRQ IURP (PEU\ 5LGGOH 8QLYHUVLW\ and was in the process of securing a 3URIHVVLRQDO &HUWLÀFDWH LQ $YLDWLRQ 5LVN Management before she died. She also had a CAA DHC-300/400 Type Rating and an NCAA DHC-6 300/400 Type Rating. She KDG DGGLWLRQDO FHUWLÀFDWLRQV LQ )LUH DQG )LUVW Aid, Dangerous Goods, HUET, Aviation Solomon Ewuga and his wife, Josephine. Security, Crew Resource Management and Although her parents are from Nasarawa Aviation Risk Management. In addition to her aviation pursuits, State, she grew up in Jos, Plateau State. ¶=D]D· ZDV DOVR OHDUQLQJ )UHQFK VHWWLQJ She started her kindergarten education at the Beehive School in Jos, attended up an animal farm with her aunty and had various primary schools and then went to QXPHURXV ÀQDQFLDO FRPPLWPHQWV ZKHUH Olashore International School, Osun State she supported the less privileged. Not where she completed her secondary school only was she disciplined and hardworking but she also always channelled her diverse education. )RQGO\ FDOOHG ¶=D]D· E\ IDPLO\ PHPEHUV H[SHULHQFHV DFURVV GLͿHUHQW VHFWRUV LQWR and friends, the deceased pilot was various business ideas and investments. Her aviation career journey began in loved and cherished by many. She was an energetic, brilliant, personable, and 2016 after she obtained her Commercial charismatic young woman who lived a Pilot License from Phoenix East Aviation, balanced life. She was very down to earth, Daytona Beach Florida, USA. Shortly after quick to lend a helping hand, generous graduation she began her career with and dedicated to all she put her mind to. Caverton Helicopters the same year and She made friends everywhere she went, ZDV KLUHG DV D 6HFRQG 2΀FHU DQG ÁHZ and her family have received condolences the Twin Otter DHC-6 400. She was later from England, Sweden, Italy, Cameroon, SURPRWHG WR )LUVW 2΀FHU DQG FRQWLQXHG Nigeria, USA, Germany, France, Canada, WR Á\ WKH VDPH DLUFUDIW 6KH GLHG LQ DFWLYH and several other countries around the service working for Caverton Helicopters, ZRUOG 7KLV LV EHFDXVH =D]D ZDV KXPEOH a Nigerian company with Cameroonian friendly, and always making connections subsidiary. We salute the gallant wings of the and taking the time to care for others. ¶=D]D· HDUQHG D %DFKHORU RI 6FLHQFH GHFHDVHG 6HQLRU )LUVW 2΀FHU 6KH ZLOO EH Degree in Business Management from greatly missed. But we take solace in the Cleveland State University, USA in 2011. words of a Chinese adage which says, “To During her time at the University, in die and remain in the hearts of those left addition to her academic pursuits she was behind is not to die.” 7R RXU GHDU 3ULQFHVV $]XD\L ¶=D]D· 6LPL actively involved in student government Yei Ewuga, rest in perfect peace. and served as Treasurer (2009–2010) and then President (2010–2011) of Cleveland Ibrahim State University African Students is an Abuja-based journalist Association.

Candidates should learn to accept that every contest comes with victory or defeat, writes OLUSEGUN ADENIYI

2023: A WORD FOR BAD LOSERS Continued from the backpage Anybody who has followed the rhetoric of the leading presidential contenders in Nigeria and their supporters cannot but agree with Olson. Most countries, including Nigeria, look up to the US as a beacon when it comes to democracy anchored on the rule of law. But even there, the integrity of elections is being questioned by a generation of bad losers. Former President Donald Trump (who has declared his intention to run again in 2024) has made

it clear that the only election he would consider credible is the one he wins. Not only does he have millions of supporters who believe everything he says, Nigerian politicians and their supporters are faithful disciples of the Trump doctrine when it comes to acceptance of electoral outcomes. In a recent study, ‘Sore Losers: Does Terrorism and Approval of Terrorism Increase in Democracies When Election Losers Refuse to Accept Election Results?’, James Piazza, a professor of political science at Penn State College of Liberal Arts, argued that loser’s consent at most elections is fragile and “when it is broken the risk of political violence increases.” Quoting one attendee at an American rightwing rally who recently asked, ‘How many elections are they going to steal before we kill these people?’, Piazza wrote on the danger posed to democracy and the rule of law when politicians and their supporters take every election as a zero-sum game. This was the point made by Olson that we need to take seriously as we approach the 2023 general election in Nigeria. At the Hubert Humphrey session, I validated Olson’s point by recounting what happened almost 30 years ago. I crave the indulgence of readers to repeat my personal experience that I once shared on this page. ,Q 0DUFK , ZDV D 6HQLRU 6WDͿ :ULWHU with African Concord magazine and member of the editorial team selected to cover the Social Democratic Party (SDP) presidential primaries in Jos, Plateau State where our chairman, the late Bashorun M.KO. Abiola was a serious contender. Before we left, we decided at our editorial meeting that the result of the convention scheduled to be held on a Saturday and probably extended till Sunday would be our cover story for the week beginning Monday. It was a gamble at that period given the level of technology in colour

printing. The bromide for the cover page had to be ready for press latest by Thursday morning. Otherwise, the Monday edition would be late. Yet, we were contemplating a cover featuring an event that would happen at the weekend. I did not have to wait long before my then editor revealed the game plan: the bromide of the cover would be printed ahead with only the photograph of our chairman and the caption, ‘How Abiola Won’. I understood the sentiment behind such a wishful headline because we could not possibly be neutral when our boss was involved. But I still felt that we were taking a reckless gamble. I suggested that we include on the magazine cover the photographs of Abiola, Atiku Abubakar and Babagana Kingibe and go with the caption, ‘How the battle was lost and won’. At that period, Atiku was being backed by the late Shehu Musa Yar’Adua while Kingibe, the sitting SDP national chairman had been endorsed by 12 of the party’s 14 governors. In fact, most SXQGLWV ZHUH SUHGLFWLQJ D VWUDLJKW ÀJKW between Abiola and Kingibe in which either could win. My suggestion was turned down. Shortly after the meeting ended, I went back to the editor to explain my misgivings. I told him I had no problem with putting Abiola on the cover page since he owned the publication but projecting him as winner was too risky. My editor insisted that no matter what happened in Jos, Abiola was the only photograph he would put on the cover. ‘What if he loses?’ I asked. His reply: “Then, I will simply change the headline to ‘How Abiola Was Rigged Out’.” 7KH PRUH , UHÁHFW RQ WKDW H[SHULHQFH the more I come to terms with the fact that the average Nigerian is a bad loser. Yes, INEC must prioritize election integrity so that voters go to the polls knowing their votes will count. I also subscribe to the notion that the electoral process must be secure and fair from beginning to the end. However, our politicians and their supporters must also understand that democracy is not just a game of numbers as they glibly say when things go their way. It is also a process of inquiry by which consensus is formed for the advancement of society. To that extent, they must accept that every contest comes with two possibilities: Victory or defeat. And until they imbibe that spirit, there will always be a problem. ,W LV QRUPDO IRU R΀FH VHHNHUV WR EH optimistic of victory. It is also legitimate for the media and members of civil society to take sides. But when we begin to project that candidates can only lose elections if ‘rigged out’, we are unwittingly putting the entire system in jeopardy. As we approach 2023, we should do everything to guard against such hubris. Adeniyi is Chairman, THISDAY Editorial Board

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T H I S D AY

THURSDAY NOVEMBER 24, 2022

EDITORIAL

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

BRAIN DRAIN IN THE HEALTH SECTOR Government should make the sector attractive to retain the best health professionals

Midwives (NANNW), Michael Nnachi. ealth Minister, Osagie Ehanire said We consider the mass exodus in the health sector recently that Nigeria has surplus as a national emergency that must be addressed. medical doctors, hence the country Incidentally, the two ministers downplaying the is not bothered by those leaving issue are medical doctors who should understand for greener pastures abroad. His ZKDW D GHÀFLW LQ KHDOWK SHUVRQQHO PHDQV IRU D IUDJLOH Labour and Employment colleague, healthcare system like ours. It is bad enough that Chris Ngige has expressed similar sentiment on the nation does not have the recommended number a number of occasions. But their assertion is not of medical doctors for our population. We cannot correct. With 24,000 doctors for a population of DͿRUG D IXUWKHU GHSOHWLRQ RI WKH UHPDLQLQJ IHZ over 200 million, Nigeria is in dire need of medical As a matter of urgency, the federal government doctors. Whereas the World Health Organisation must address the root causes of the migration, chief (WHO) recommends that every nation should have among which are insecurity, poor incentives, bad one doctor to 600 people, Nigeria now boasts of one working conditions and for 8,300 people. low funding of the health To be clear, Nigeria sector. Nigerian doctors only has 7.5 per As a matter of urgency, the federal government must address the are among the least paid cent of the needed root causes of the migration, chief among which are insecurity, poor globally, a situation that medical doctors for its spurs them to move to population. To make incentives, bad working conditions and low funding of the health countries where they can matters worse, many of get better incentives. Till the remaining doctors in sector date, Nigeria’s health the country are planning sector funding still to join their colleagues T H I S D AY dangles between two and three per cent allocation ZKR KDYH PLJUDWHG DEURDG IRU MRE IXOÀOPHQW DQG EDITOR SHAKA MOMODU of the national budget. Even if the entire health a better working environment. That many of these DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA sector allocation is released - which is usually not medical doctors are products of our tuition-free MANAGING DIRECTOR ENIOLA BELLO the case - the amount cannot address primary DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU public universities makes the case pathetic. For CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI healthcare alone not to mention other areas of the context, Nigeria has trained 90,000 medical doctors EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN sector. There is an overwhelming pressure on the as of May 2018, according to the immediate past MANAGING EDITOR BOLAJI ADEBIYI few doctors remaining in the country. If a doctor in Health Minister, Isaac Adewole. Of that total, 70 THE OMBUDSMAN KAYODE KOMOLAFE Saudi Arabia sees 40 patients in a month and paid per cent have migrated to the United States, United $6,000 at the end of the month, it is only reasonable Kingdom, Saudi Arabia and other nations they for a Nigerian doctor who sees over 200 patients in a feel their services are better valued. According to T H I S D AY N E W S PA P E R S L I M I T E D month and paid less than $500 to think of something the Nigerian Medical Association (NMA), some 50 EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA else. doctors migrate from the country every week. GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, The federal government must make the sector ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI To compound the situation, doctors are not the lucrative enough to retain and attract doctors. DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, only health professionals seeking greener pastures ANTHONY OGEDENGBE (KDQLUH DQG 1JLJH PXVW ÀUVW DGPLW WKDW ZH LQGHHG abroad. Nurses, medical laboratory practitioners, DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI have a problem. They cannot continue to live in pharmacists and allied personnel are also leaving SNR. ASSOCIATE DIRECTOR ERIC OJEH denial of what is so obvious. Nigeria as of today the country in droves. For instance, 57,000 nurses ASSOCIATE DIRECTOR PATRICK EIMIUHI KDYH PLJUDWHG IURP 1LJHULD ZLWKLQ WKH ODVW ÀYH CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI GRHV QRW KDYH VX΀FLHQW KHDOWK SUDFWLWLRQHUV ,W LV DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO time we addressed the issues fuelling the migration years (2017 – 2022) according to the President of TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com of health workers from our country. the National Association of Nigerian Nurses and

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

LETTERS

ZAMFARA AND THE RECURRENCE OF TERROR In a matter of few years, terrorism has had a far-reaching and frankly devastating impact on Nigeria as a country. Lives have been cut short while many livelihoods have been obliterated as terrorism has continued to evolve in the challenge it poses to Nigeria as a country. Even before Boko Haram upped their game in 2009, the rumbles were considerable. The fact that in spite of the signs which were out there for a long time, Nigeria did not rally to put in place measures to counteract something that was more than capable of becoming an existential threat, was telling of the crop of leaders Nigeria had had until that time and since then. (YHU\ SDUW RI 1LJHULD KDV EHHQ DͿHFWHG E\ ZKDW KDV EHHQ D metamorphosis of terror. The fear and the fatalities have been widespread even if not evenly distributed. While in the beginning, Borno State was its base, Boko Haram soon spread its terrorist tentacles to other states of the QRUWKHDVW DQG HYHQ WKH QRUWKZHVW %XW WKH GHOHWHULRXV HͿHFWV of Boko Haram’s activities did not stop there. In fact, it is fair to say that the constant attacks on Nigeria’s security architecture by Boko Haram sowed the seeds of other forms of terrorism of which banditry is quickly proving to be the most destructive. For Zamfara State, the last few years have been a study in

KRUURU 5HOHQWOHVV DWWDFNV RQ WKH ORQJ VXͿHULQJ SHRSOH RI WKH agrarian state by bandits have pushed many in a state which was historically one of Nigeria’s poorest and least developed states to the edge. People have been attacked, their bodies torn apart and their farms and houses razed. Many, especially women, have been abducted and forced into unspeakable forms of slavery. As the authorities have withered in the face of the terrorist onslaught, terror kingpins have been conferred with chieftaincy titles, and HͿHFWLYHO\ KDQGHG RYHU WKH FRQWURO RI YDVW VZDWKHV RI RQH RI Nigeria’s most iconic states. Matters got to a head sometime this year when faced with the danger of annihilation, the Zamfara State Governor asked the people of the state to defend themselves. That injunction whipped up a ruckus. But it was not quite like the tantrum the government threw when some media organizations in a disSOD\ RI GHÀDQW FRXUDJH DLUHG D KDUURZLQJ GRFXPHQWDU\ WLWOHG ‘ The bandit warlords of Zamfara’ which was put together for the BBC by Yusuf Anka. 7KH GRFXPHQWDU\ GUHZ KHIW\ ÀQHV IRU WKH PHGLD RUJDQL]DWLRQV EXW VX΀FLHQWO\ LQIRUPHG DQG KRUULÀHG 1LJHULDQV DERXW the carnage going on in the state.

Many months later, in the face of the attacks which have continued in Zamfara State, imperiling even the 2023 general HOHFWLRQV WKH ÀQHV LPSRVHG RQ WKH PHGLD RUJDQL]DWLRQV E\ WKH National Broadcast Commission, which came after the minisWU\ RI LQIRUPDWLRQ GHVFULEHG WKH GRFXPHQWDU\ DV ¶D JORULÀFDtion of terrorism’ seem laughable and even utterly farcical. If anything, the attacks have been unrelenting. On Sunday November 20, 2022, more than a hundred Nigerians were abducted in Zurmi and Maradun local government areas of the state to continue a string of kidnappings that have rocked the state in recent times. The security situation of the state is indeed dire as it appears that people cannot stay in their homes or go about their daily activities without fearing for their lives and limbs. This has become a recurrent challenge and if those Nigerians who live outside Zamfara State can strain enough, they PD\ MXVW KHDU WKH ORQJ VXͿHULQJ PHQ ZRPHQ DQG FKLOGUHQ RI Zamfara State questioning their place in the increasingly fragile project called Nigeria. Kene Obiezu, @keneobiezu

THURSDAY NOVEMBER 24, 2022 • T H I S D AY

T H I S D AY ˾ THURSDAY, NOVEMBER 24, 2022

HEALTH & LIFESTYLE

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

Assessing Nigeria’s Commitment towards Financing Health Security In this report, Sunday Ehigiator comparatively assessed Nigeria’s commitment towards financing health security through the budgets, vis-à-vis seeking more financing commitments for the sector

n October 7, 2022, President Muhammadu Buhari presented the 2023 budget proposal of N20.51 trillion and tagged the ‘Budget of fiscal sustainability and transition’ to the joint session of the National Assembly for approval. The budget is 4.16 per cent (N0.82 trillion) higher than the approved budgets for 2022, including the N2.56 trillion supplementary budgets, making it the highest annual budget in the country’s history. Based on precedence, the budget is likely to be further revised upwards as it is deliberated on at the National Assembly and scheduled to be enacted by December 31. As the 2014 National Health Act requires, the government should allocate at least 1 per cent of its Consolidated Revenue Fund (CRF) to the Basic Healthcare Provision Fund. This is geared towards the financial management of primary healthcare in Nigeria to provide a basic minimum package of health services to low-income and vulnerable Nigerians, particularly in underserved communities. Poor Health Financing and its Consequences According to a performance report released by ONE Campaign, since 2001, Nigeria has consistently committed less than 7 per cent of the total annual national annual budget to health, leaving a major gap in the financial resources required to drive the health system. In fact, according to data from the World Bank, the current health expenditure in Nigeria is a paltry 3.89 per cent of our total Gross Domestic Product (GDP). The consequence is reflected in the high maternal mortality and child morbidity ratio bewildering the country. The scale of maternal mortality in Nigeria has become so alarming that we must call on the health authorities to fashion out a blueprint that will extenuate this pressing challenge. According to Nigeria’s Health Minister, Dr Osagie Ehanire, “The cases of maternal mortality can be attributed to not being able to reach the hospital. If you add those who reached the hospital and are not attended to because of deposit, they are going to be between 30 to 40 per cent. “Nigeria has about 512 maternal mortalities per 100,000 births now. That’s about the worst in the world. To make matters worse, COVID-19 has hit the country in a way that has crippled everything.” That five of 1000 Nigerian women die while delivering their babies is frightening. Latest statistics from the World Health Organisation (WHO) also revealed that Nigeria accounts for over 34 per cent of global maternal deaths, while the lifetime risk of dying during pregnancy, childbirth, postpartum, or after an abortion for a Nigerian woman is one in 22, compared to one in 4900 in developed countries. Sadly, many rural communities in the 36 states lack cottage hospitals and medical facilities that will address these challenges. Where they exist, there is a shortage of manpower while medical facilities are obsolete. Instances abound of pregnant women who have had to die in the process of commuting from their homes to a medical facility. Yet, when a pregnant woman avoids prenatal care, she puts herself at risk of postpartum haemorrhage (PPH), a complication arising from childbirth, which can result in a fatal outcome. Besides, women who do not have access to healthcare are prone to unassisted delivery carried out by quack midwives in unhealthy conditions with dire consequences for both the mother and foetus. To address this serious public health issue, we must begin to examine how to mitigate the acute poverty that has become the lot of our people, especially in the rural areas, and improve health financing through budgetary allocations, which would factor in the dire need of cottage hospitals and manpower in these rural communities especially. Improved 2023 Proposed Health Budget For the first time in Nigeria’s health funding history, over a trillion Naira was allocated to the sector in the proposed 2023 budget. An analysis of the proposed budget presented

President Muhammadu Buhari Presents 2023 Budget to Senate by President Buhari shows that N1.17 trillion was allocated to the health sector out of the total of N20.5 trillion for the 2023 fiscal year. The amount comprises N404.08 billion for capital expenditure and N580.82 for recurrent expenditure. It also includes N2.5 billion for Aid & Grants and a provision of N62 billion for retained independent revenue which could help the health agencies execute their other activities. The health sector also gets N81.47 billion under the service-wide vote. This includes N69.57 billion for GAVI/immunization; N7.4 billion for counterpart funding including global fund, health refund to GAVI and N4.4 billion for military retirees under the National Health Insurance Scheme (NHIS). The 2023 budget shows a significant increase from the N826.9 billion allocated to the health sector in 2022 and the N547 billion allocated in 2021. While the capital expenditure increased by 94.83 per cent from the 2022 budget, the recurrent health budget also increased by 25.54 per cent. Comparative Analysis An analysis by PACFaH@Scale, a coalition anchored under the development Research and Projects Centre (dRPC), shows that there has been a 323.68 per cent increase in the health budget in the last eight years. The health budget significantly increased from N278.31 billion in 2015 to N1.17 trillion in the 2023 proposed budget. The health recurrent budget also increased from N237.31 billion in 2015 to N580.82 billion in 2023 while the health capital expenditure increased from N22.68 billion in 2015 to N404.08 billion in 2023. However, the Basic Health Care Provision Fund (BHCPF) was reduced from N55.15bn in 2018 to N47.64bn in the proposed 2023 budget estimates. This represents a 13.61 per cent reduction from what it was in 2018. Interestingly, while the routine immunization budget was increased from N64.6bn in 2022 to 2022 N86bn in the proposed 2023 budget estimates, the Federal government of Nigeria has reintroduced the family planning budget line into the budget estimates.

It introduced a new line “scale-up of implementation of the national family planning programme, services and procurement of family planning commodities through counterpart -funding for 2023” with the sum of N20 million was created. However, despite the increase, only 5.75 per cent of the 2023 total budget is allocated to health, sustaining the country’s refusal to meet the commitment made by African leaders under the Abuja Declaration to allocate at least 15 per cent of their annual spending to the sector. 15 per cent Abuja Declaration It was the reality of the deficiencies in their health systems that made African heads of state and governments under the African Union (AU) commit in April 2001 to dedicate at least 15 per cent of their annual budgets to the health sector in what is now known as the ‘Abuja Declaration.’ While countries like Rwanda and South Africa have met the commitment by allocating at least 15 per cent of their total budgets to health, Nigeria has not found the way or the will to do so. A review of the budgetary allocation to the health sector in the last 21 years revealed that Nigeria has never met the 15 per cent target agreed upon in the Abuja Declaration. Although the 5.75 per cent allocated to health in the proposed budget is an increase from the 4.7 per cent allocated in 2022, health experts say more advocacy is needed to ensure the government meets and surpasses the 15 per cent agreed. A spate of Released but Unutilized Funds In 2021, the sum of N137 billion was allocated to the health capital budget. From this amount, N90 billion was released and only N54 billion was utilized from the released fund. The amount released constitutes 66

It is however recommended that the federal government should thrive to increase the health budget to 15 per cent of the federal budget as recommended by the Abuja declaration, to guarantee health security for its populace

per cent of the total allocated fund. The N54 billion utilized only constituted 60 per cent of the released fund and 39 per cent of the total allocated fund. Therefore, as of the second quarter (Q2) of 2022, only N32.79 billion was released and cash-backed (representing 15.81 per cent of the total allocation) from the N207.39 billion allocated as the health capital budget in 2022. It is more worrisome given the guideline and instruction from the 2023 budget call circular clearly stating that the “Implementation of the 2022 Capital Expenditure budget is expected to close by December 31, 2022, as indicated in the 2022 Appropriation Act implementation Guidelines (HMFBNP/ BOF/2022/AAIG/02/2022), in furtherance of the FGN’s commitment to maintaining a predictable January - December fiscal period”. This means that the FGN has only about one month to release all funds allocated to the sector for effectiveness and to achieve the key target and goals of the sector as contained in the National Development Plan 2021-2025. Recommendations This analysis shows that Nigeria is far from its intended and expressed commitment to allocating 15 per cent of its total budget to health. Despite the increase in allocation to the health sector, it is still below 15 per cent of the Federal Budget recommended by the Abuja declaration. There is also a clear indication that the healthcare investment per person has increased but is below N6,000 per capita. It was also established that despite an increase in budgetary allocation to the sector, there was a very poor release as well as a gross underutilization of the fund released. The findings also show that the federal government is planning to scale the FP services and procure commodities through counterpart funding for 2023. In the same vein, the N1.17 trillion for the health sector in the 2023 fiscal year constitutes 71 per cent of the total proposed N1.65tn public investment for the realization of the all-set goals outlined in the health sector in the National Development Plan (NDP) from 2021-2025. It is however recommended that the Federal Government should thrive to increase the health budget to 15 per cent of the Federal Budget as recommended by the Abuja declaration, to guarantee health security for its populace. There is also a need for adequate and timely release of funds to the health sector to achieve the set goal of the NDP as related to health care. There is a need to revisit the investment plan proposed for the sector in the NDP as it is counterproductive to the health budget estimates. There is also a need to ensure the timely publication of the health budget implementation report for accountability.

T H I S D AY ˾ THURSDAY, NOVEMBER 24, 2022

NEWS

FERTILITY

With Dr. Kemi AILOJE drkemi@lifelinkfertility.com www.lifelinkfertility.com +2348033083580

Ogundipe Memorial Outreach, Gymnastics And Infertility (Part 1) Viewpoint Eye Centre Reach out to Ilupeju Community The Ogundipe Memorial Outreach in collaboration with Viewpoint Specialist Eye Centre made their presence felt recently at the Ilupeju area of Lagos State where a community outreach was carried out. The venue for the outreach was Ilupeju Secondary School, Lagos where a free vision screening was conducted among teachers and students of the school. The event, which was carried out in remembrance of Nigeria’s foremost female English writer, Phebean Ogundipe and also to commemorate World Sight Day at the school premises was geared towards encouraging the students as well as ensuring that both staff and students have a sound vision to bring their academic dreams to reality. Teachers’ and students’ eyes were checked and medications were administered

where necessary while others who needed glasses were given them free of charge. Speaking at the event, the Director of View Point Specialist Eye Centre, Agatha Afolabi, said “We are celebrating someone very important to us by the name, Phebean Ogundipe, in whose memory the Ogundipe Memorial Foundation was established. It is a non-governmental organisation celebrating a husband and wife Olufemi and Phebean Ogundipe who passed on so many years ago. The wife was an educationist and author of so many books, including the popular ‘Brighter Grammar’. She has a great passion for learning and so we decided to establish a foundation in her memory.” Afolabi who said the eye screening programme was very

important for the students and teachers, noted, “We are trying to campaign and encourage people to check their eyes regularly. “ We realise that so many people are reluctant to walk into the clinic and get their eyes checked but they don’t mind when you come to them, so that’s what the whole idea is about.” The principal of Ilupeju Junior Secondary School, Mrs. Oyetade Bosede Aderonke, said the programme was very commendable, adding this it was a means of remembering a great educationist, Mrs. Phebean Ogundipe. “I am one of those students that read her book while I was in secondary school and that particular book I read then, gave me an added advantage to my studies then, she is worthy of celebrating”.

Group Creates Awareness of Breast Cancer, Calls for Early Detection Osisioma Age Grade Oguta, a socio-cultural association of Oguta sons and daughter recently used the occasion of a sensitisation walk held in Festac Town, Lagos to drive awareness on breast cancer while also encouraging women to go for an early check-up as early detection save lives. Every year, the group creates awareness of breast cancer but this year, the focus was on the well-being of women, as research indicates that women are more vulnerable. Vice-president and convener of the Lagos group, Mrs. Tina Ishiodu, said, “We are making efforts to educate those concerned about the disease, including early identification, signs and symptoms associated with breast cancer.” She explained further that the Osisioma Age Grade, Oguta, has in the past embarked on several humanitarian deeds, adding that the group has decided to render this service to humanity due to the recent report of the incident cases affecting women. Ishiodu stated that the group organised a breast cancer awareness session, apart from the walk they had,

so women could learn breast self-examination techniques. She implored women to take advantage of the chance to get screened because early detection saves lives, adding, “Our top priority at Osisioma is healthy health.” The registrar of the Department of Surgery, Dr. Emmanuel Olaleye, said breast cancer was often thought of as something that only affected women, but men can get it in rare cases. “It grows in the small amount of breast tissue men have behind their nipples. It usually happens in men over 60, but can very occasionally affect younger men”, Olaleye noted. The registrar who maintained that early detection and treatment were key to surviving breast cancer, also used the opportunity to educate participants at the event about breast cancer, and how one can make purposeful lifestyle choices to reduce the risk of developing the disease. Emmanuel who stressed the need for increased awareness of the scourge of cancer said breast cancer is a serious disease that requires

awareness to go out to the rural areas. “There is a need to educate Nigerians on how cancer develops and how to curb it on time. Cancer can be cured if it is discovered and treated early. But people need to be aware of the disease and watch out for it”, he added. Speaking further, he said, “Breast cancer starts in the breast tissue. The treatment you need depends on the type of breast cancer you have as well as your general health. Treatments include surgery, chemotherapy, hormone therapy, and radiotherapy.” He noted however that, “Every year, breast cancer kills more than 500,000 women around the world. In resource-poor settings, a majority of women with breast cancer are diagnosed at an advanced stage of disease, resulting in low survival rates.” The Lagos State Chairman of the group, Pastor Chuks Nduka, said that many wives and daughters have died due to cancer. “The month of October is regarded as breast cancer awareness month, hence, the need for the sensitisation programme.”

WDD:Evercare Foundation to Offer Free Diabetes Testing,Health Education in Africa, SouthAsia Marking the occasion of World Diabetes Day, The Evercare Foundation, the philanthropic arm of the Evercare Group, has announced a week-long program of free diabetes testing and health education across Evercare facilities in Africa and South Asia. The Evercare Foundation aims to provide equitable health for all and the development of more resilient health systems across low and middle-income countries. Through our campaign ‘Access to Diabetes Care’, the Foundation is committed to facilitating support and aware-

ness for people across low- and middle-income countries in South Asia and Africa. Along with the week-long program of offering free glucose screening, the Foundation is also organizing expert sessions aligned with the theme of #educationtoprotect to advise communities on the causes, complications, and treatment options of Diabetes. These educational sessions will also emphasize common warning signs of Diabetes along with explaining the risk factors of Type 2 diabetes. “At Evercare, we are working relentlessly to provide greater access to

quality healthcare and build healthier populations. Our Corporate Social Responsibility is an obligation we take very seriously; indeed, CSR lies at the very heart of our business model. “ Our initiatives are aligned with the UN Sustainable Development Goals and are guided by the fundamental principle of universal access to healthcare. “To extend our outreach further into the most vulnerable communities, we launched the Evercare Foundation: A world with Equitable Healthcare for all in March of this year.

xercise is a physical activity that requires physical effort, and it is performed to maintain or improve health and fitness. Swimming, running, jogging, strolling, and dancing are just a few examples. As you are aware, exercise provides numerous health benefits, both physical and mental. Physical activity can be useful or harmful depending on the exercise regimen parameters: type, intensity, duration, aim, or structure. Physical activities promote health and quality of life, but excessive or strenuous exercise exposure can have detrimental side effects, one of which being possible fertility concerns in both males and females. Infertility is defined as the inability to conceive after 12 months of unprotected intercourse. There are various factors that influence fertility.Age, health issues, reproductive organ issues, hormonal imbalances, sexually transmitted illnesses, and any form of fibroid or uterine growths are all examples. Some lifestyle factors might also contribute to infertility such as inadequate rest and sleep, smoking, alcohol, and caffeine. Surprisingly, rigorous exercise is another lifestyle component linked to infertility. FEMALE GYMNASTICS AND INFERTILITY Women engage in exercises to improve their physical fitness. According to studies, many sportswomen may suffer reproductive dysfunction or menstruation issues. Girls who engage in strenuous activity often experience delayed menarche (onset of menses), cessation of menstruation, and long intervals between menstrual cycles. Infertility caused by high-intensity exercise may be reversed by reducing physical activity and increasing body fat. IMPACT OF EXTREME WORK OUTS ON FEMALE GYMNASTS Increased level of cortisol Prolonged exercise raises cortisol levels while decreasing thyroid hormone levels. Studies shows that even after 24 hours of recovery post-exercise, cortisol levels remained elevated and thyroid hormones suppressed. High cortisol levels and low thyroid hormone levels have both been related to poor adrenal health, which in turn has a direct impact on thyroid function and how the body handles stress in the long run, all of which can have a detrimental impact on overall hormonal balance and fertility. Athletic hypothalamic amenorrhea Exercise-related ovarian dysfunction, also known as neuroendocrine dysfunction, can develop in athletes. Athletic hypothalamic amenorrhea is the delay or cessation in the menstrual cycle in athletes. Exercise causes our brain to release chemicals such as beta endorphin and catecholamine. The release of these hormones rises with greater physical activity. A high level of these hormones interferes with the function of estrogen and progesterone. This results in Athletic Hypothalamic amenorrhea, which might

lead to infertility in the long run. This is a condition in which menstruation ceases for several months due to a hypothalamic issue. The hypothalamus is the brain’s reproduction control center. After ovulation, it generates gonadotropin releasing hormone (GnRH), which triggers the synthesis of other hormones required for egg maturation and ovulation, such as follicle stimulating hormone (FSH) and luteinizing hormone (LH). These hormones then tell the ovaries to make estrogen. Estrogen thins cervical mucus and, in conjunction with progesterone from luteinizing hormone (LH), prepares the uterus for a fertilized egg. Ovulation and menstruation will end if the hypothalamus slows or stops generating gonadotropin releasing hormone (GnRH), resulting in infertility. Low levels of body fat The female body cannot menstruate if she has less than a particular proportion of body fat. A woman also needs at least 22% body fat to ovulate and become pregnant. Most athletes lose a lot of body fat as a result of their training and will most likely experience issues with ovulation, which leads to infertility. Emotional and mental stress Strong, unpleasant emotions can have an impact on the hypothalamus, the region of the brain that regulates the reproductive system and menstrual cycle. This can cause a disruption in the connection between your brain and your ovaries, resulting in delayed or absent ovulation as well as irregular or skipped periods. Regular menstrual periods usually restart once your stress level has decreased. Disordered eating This could include fasting and skipping meals. An energy deficit happens when a person consumes less energy than they expend. When there is a chronic energy shortage, the body’s mechanisms save fuel for important body processes. Less important bodily functions are suspended. This includes reproduction, which can be dangerous to survival. Energy and metabolic functions block the hypothalamic release of ovarian hormones. LONG-TERM COMPLICATIONS OF INTENSE WORK OUTS Reduced fertility:Women are less likely to become pregnant if they do not menstruate on a regular basis, which is one of the negative effects of high intensity exercise. Loss of bone density:This can result in osteopenia (low bone density but not osteoporosis) or osteoporosis (brittle bones that break easily), particularly if peak bone density has not yet been reached due to age. Premature ageing:the skin loses its flexibility because of low levels of oestrogen. Pelvic pain: Pain in the pelvic area may occur if an anatomical problem is causing the amenorrhea TO BE CONTINUED

T H I S D AY ˾ THURSDAY, NOVEMBER 24, 2022

HEALTH

LASG, HFN Urge FG to Create Policies for Diaspora Doctors

Rebecca Ejifoma

The President of the Healthcare Federation of Nigeria (HFN), Dr Pamela Ajayi has urged the Federal Government to implement policies that will create an enabling environment for Nigerian doctors in the diaspora to return home and help revamp the healthcare system. She made this call at the Doctors For Change (DFC) convention which was held in Lagos recently, where she highlighted brain drain among other challenges facing the health sector. The HFN president further recommended that the government puts policies in place to harness the potential and capability highly skilled and experienced medical personnel in the diaspora can bring to Nigeria beyond

the huge amount of foreign exchange in diaspora remittances coming from health workers abroad. “It is absolutely critical that the government signs off on the national policy incentivising the health industry as soon as possible, thereby creating an enabling environment for the skills and talents of doctors and other healthcare personnel in the diaspora returning home and also encourage direct foreign Investments (DFI) in the sector”, she suggested. The Lagos State Commissioner of Health, Prof. Akin Abayomi also outlined that the problems in the healthcare sector can only be tackled effectively through government collaboration with the private sector. He expressed delight in

the potential that the DFC convention portends for the sector. Abayomi promised that the government would continue to work on setting up necessary policies and infrastructure that would enhance effective collaboration with organised groups such as DFC. “Healthcare occupies a very important place on their agenda.” On his part, the Chairman of the Board of Governors of the College of Medicine of the University of Lagos, Dr Aderemi Desalu noted that the diaspora doctors can provide the same high standard and quality healthcare that cost Nigeria so much yearly. He believes that the astronomical cost of medical tourism can be reduced drastically by engaging them. Desalu applauded the DFC

convention for taking the initiative while expressing hope for positive outcomes. Exhibiting and represented at the event were some of the diaspora hospitals with specialist healthcare services including the Duchess International Hospital, the Bridge Clinic, Marcelle Ruth Cancer Centre, Brain and Spine Surgery Ltd, Pneumacare, and First Cardiology Consultants. Others at the event included the President of the Nigerian Physicians Advocacy Group, Dr Iyore James; the President of the Guild of Medical Directors, Dr Abiodun Kuti; the President Association of Nigeria Private Medical practitioners, Dr Kay Adesola and the President Association of Nigerian Physicians in the Americas, Dr Chinyere Anyaogu.

VP Osinbajo Recounts Surgery Experience at Duchess Hospital Mary Nnah Vice President, Prof. Yemi Osinbajo has spoken publicly for the first time about his experience as a patient on admission at the Duchess International Hospital, Ikeja in July this year for surgery to repair a stress fracture sustained to his right leg. In a goodwill message to the management and staff of the Duchess Hospital on the occasion of the hospital’s first anniversary, the Vice President recalled his generous praise of the hospital’s facilities during its commissioning on October 22, 2021, saying “by both medical and aesthetic standards, the Duchess Hospital is comparable to the best hospitals anywhere in the world”. He then added, somewhat jokingly, “I never knew I would be admitted as a patient at the hospital a few months later to test the accuracy of my rather generous praise”. Osinbajo went on to state that not only did he undergo Orthopaedic surgery in one of the Duchess Hospital’s “state-ofthe-art theatres”, but he also spent a whole week on admission post-surgery in what he described as “perhaps one of the most comfortable hospital accommodations anywhere in the world”. According to him, “the Duchess International Hospital has proved to be world-class, both in the quality of its medical personnel and its management, and it is living up to its mission to reverse medical tourism by delivering the highest standards of care using the most advanced technology and treatments to give the fastest, most convenient access to the best medical expertise available anywhere in the world.” Corroborating the Vice President, Otunba Alaba Shonibare, Chairman of Alaba Shonibare & Co, a Real Estate firm based in Lagos who successfully underwent knee replacement surgery at the Duchess Hospital in March this year, said the quality of care he received while on admission at the Duchess Hospital “ reminds me of the Cromwell Hospital in London”. Speaking further, Shonibare explained his reasons for having the knee replacement surgery at the Duchess Hospital, despite numerous attempts by friends and family to persuade him to have the procedure done in the United Kingdom. “Not only did I do the surgery with one-quarter of the amount it would have cost me in the UK, but I also had the best care from the Duchess Hospital with all my family and friends around me,” he explained. Recalling some of the landmark treatments and surgical procedures performed at the Duchess International Hospital in the past year, the Chief Executive Officer of the hospital, Dr Adetokunbo Shitta-Bey remarked that the Duchess Hospital is proud to have successfully conducted a wide variety of routine and complex specialist interventions across major sub-specialties and disciplines such as Orthopaedics, Cardiology and Cardiothoracic surgery, Neurosurgery, Paediatrics, Obstetrics and Gynaecology, Urology and Prostate surgery to mention a few.

In commemoration of World Diabetes Day, Medical Expert Sheds Light on Disorder Tosin Clegg Dr Pamela Ajayi, President of Healthcare Federation of Nigeria (HFN); Prof. Akin Abayomi, Commissioner for Health, Lagos State; Dr Toyin Ajayi, Medical Director of The Bridge Clinic; and Dr Iyore James, President of Nigerian Physicians Advocacy Group at the Doctors For Change (DFC) Convention in Lagos

Verve Partners WellaHealth to Offer Free Health Benefits to Verve Cardholders Adedayo Akinwale in Abuja WellaHealth, a health technology providing access to quality and affordable healthcare to Nigerians has partnered Verve to provide access to quality and affordable healthcare services to Verve cardholders. Marketing and Communications Lead, Joseph Okoroafor, WellaHealth Technologies in a statement issued yesterday said the partnership was part of the strategy employed by WellaHealth to get more Nigerians covered and reduce out-of-pocket payment for healthcare expenses. He said: “Today, only three percent of Nigerians are covered by any formal health plan in the country meaning that more Nigerians, over 97 percent, pay from their pocket for health services that could hitherto be covered by a health scheme like WellaHealth’s and

save them from unplanned health expenditure.” Joseph explained that throughout the lifespan of the health technology startup, WellaHealth continues to provide quality health service by using community pharmacies and alternative care pathways as envisioned by the company’s CEO, Dr. Ikpeme Neto. The Business Development Lead of WellaHealth, Collins Jacobs said the company has an array of different health packages that are readily available to Verve Cardholders and provides subscribers with cover for Malaria Test and Treatment, Treatment for Fever and Pains, Treatment for Cough and Cold, Treatment for Stomach Upsets and Allergies, Blood Pressure and Blood Sugar Checks with access to talk to a doctor 24/7 and much more, as long as the subscriber has an active

plan. “WellaHealth’s partnership with Verve offers a unique opportunity for Verve’s cardholders to be covered by a health plan in line with the National Health Insurance Act that mandates all Nigerians to get a health cover. It is also a testament to the vision of the team at Verve and we are happy WellaHealth is positioned to help them achieve their vision,” he noted. Also, the Executive Vice President and Group Chief Marketing and Communications Officer, Interswitch Group, Cherry Eromosele said Verve was always on the lookout for paths to give Nigerians the good life, either through seamless and secure payment solutions or through strategic partnerships, such as the one with WellaHealth that ensures that the health of Nigerians are well covered. He stressed that Verve,

Africa’s leading payment card and digital token brand would be offering its cardholders a unique range of WellaHealth’s product offerings and services at a discounted price with great value. Eromosele said Verve cardholders that purchase one month Basic plan would be granted two additional months of cover for free, with services ranging from; up to five percent discount off medications at select participating Pharmacies Nationwide, Free Malaria Tests, Free BP Screening, Telemedicine and Personalized Health Tips amongst other services. “At Verve, we continue to seek avenues through which we can serve our customers and Nigerians better and it is our hope that millions of Nigerians take advantage of this opportunity to get medical services at discounted rates under the health scheme

November 14, is designated World Diabetes Day. The essence is to create awareness on diabetes mellitus among healthcare workers, people living with the condition, their families and the community. The campaign underscores the fact that diabetes is everyone’s business; it affects everyone one way, or another. This year, the theme is ‘Access to diabetes education’. According to Doctor Chinyere Udo, a Consultant Physician and Endocrinologist at Evercare Hospital Lekki she states that, “Diabetes mellitus is a chronic disorder that occurs when the body either cannot produce sufficient insulin or is unable to effectively use the insulin it produces. Insulin is a hormone produced in the pancreas which allows the body’s cells to utilize or store glucose produced from digestion of food. “Deficiency of this hormone, results in persistently elevated blood glucose levels, the hallmark of diabetes. Diabetes, especially when poorly controlled, is associated with severe complications leading to limitation in quality of life or death. Diabetes complications include increased susceptibility to infections, heart disease, stroke, blindness, kidney failure and lower limb amputations. While diabetes may affect anyone, certain persons – obese persons, individuals with sedentary lifestyle, those with a family history of diabetes and women with a history of giving birth to large babies – have a higher risk.” She further established that there are different forms of diabetes which are Type 1 diabetes and thus is the more frequent type in childhood, although it can occur at any age. Type 1 diabetes is not preventable and people who have it need insulin to survive. Type 2 diabetes which is by far the most common type, accounting for over 90% of diabetes cases worldwide. Type 2 diabetes can be prevented or delayed. Indeed, evidence exists that reversal of type 2 diabetes may be possible, sometimes. Lastly is Gestational diabetes at this stage diabetes has a first onset or recognition during pregnancy. It usually resolves after child delivery but women who have had GDM are at increased risk of type 2 diabetes later in life. Globally, the prevalence of diabetes has continued to rise in unprecedented leaps. The International Diabetes Federation estimates that worldwide, 537 million adults (age 20-79 years) are living with diabetes.

T H I S D AY ˾ THURSDAY, NOVEMBER 24, 2022

FEATURES

Man’s Inhumanity to a Teenage Girl

Labake and her baby Olori Janet Afolabi

abake is a mentally challenged teenager. Two years ago someone took advantage of her condition, impregnated and abandoned her. She was begging for food and money to survive. The first time l saw her was in October 2020 when she strayed into my event. She was being dragged out by security men when she caught the attention of Kafayat Oyetola, Osun State First Lady, who was my guest. The First Lady took Labake to Oshogbo, rehabilited, took care of her till she delivered. Then she brought Labake back to Apomu,headquarters of Isokan local government area of Osun state. This year again, 2022, an unknown man whose name according to Labake is “Operator” impregnated her and disappeared. On Thursday November 3, l was told Labake

was at the Palace gate.I thought it was her usual visit for support. I asked my staff to take some things to her.He came back with a paper and said Labake was crying profusely. The paper was the Scan result which showed among other things that she had been due since October 24 and the baby’s breech position in her womb posed great danger to her life.The baby’s head was up instead of down.The ideal position for birth is head down. I asked the security to let her in. When l saw her, l didn’t need to be told that she was in great pain. l called Julius Edet and Moses Bello (both members of the Medical team l set up for my project “Initiative To Stop Teenage Pregnancy,) to come to the Palace . They took her to the Health Center. After payment was made for registration and tests, the officials said there was no doctor

to attend to her. She was taken to another Health centre.The Matron spoke to me. She said Labake’s condition was beyond them. She advised that Labake be taken to a private hospital or General hospital Oluyoro in Ibadan because the only way she could give birth was through operation. For me Ibadan was not an option at all because of distance and gridlock. Labake may not have have survived the stress in the condition that she was. I decided to call Goke Odetunde, Chairman of our local government. He responded immediately. I told him the situation on ground. He said Labake should to be taken to a private hospital in a neighbouring community. He also paid the bill. To the glory of Almighty God,the operation was successful.She delivered

a baby boy.Mother and child are alive. But the journey to save Labake has not ended.I would like to rehabilitate and provide a secured shelter for her.She can then acquire a skill or start a trade. I want to thank the Chairman for the rapid response and kind gesture.Julius and Moses for devoting their time and attention to be with Labake throughout her agonising hours. I want to appeal to the men who keep talking advantage of Labake’s mental condition to sexually harrass/ abuse/ impregnate her, to desist. If she were your sister or daughter l do not think you will be happy if someone does that to her. Most likely, you would describe such action as man’s inhumanity to a vulnerable teenager girl. *Olori Janet Afolabi is a CNN Award Winning Journalist, Author and Queen of Apomu Land

Varsity Don Calls for Special Hospital for Children with Canofacial Defects Ȋ ¢ ȱŝŖȱ ȱ ȱ ȱ ȱŘŖŖ ȱ Adibe Emenyonu in Benin City Professor of Dentistry and Orthodontic, Idia Nibokun Ize-Iyamu has called on the federal government to set up special hospital for children with canofacial defects. The Don who decried the dearth of orthodontists in Nigeria, noting that the 70 practitioners in the country is inadequate to serve over 200 million Nigerians, stated this while delivering the 262 Inaugural Lecture Series of the University of Benin (UNIBEN) titled: “The Magic of Transformation: Blessed Are Ye That Weep Now, For Ye Shall Laugh” in

Benin City, capital of Edo State Professor Ize-Iyamu recommended that the hospital to be built should be free for such children to encourage those who are hiding as a result of shame and inability to afford the cost of treatment be attended to. She said policy makers should formulate plans that incorporate the poorest of the poor in the societies so that interventions that could transform a smile are made available in selected health facilities, adding that this should include orthodontic treatment for patients with cleft lip and palate and for those with severe handicapping malocclusions that could affect their social and mental states.

She also said funding should be made through special interventions for these special groups of patients. The professor while decrying the shortage of orthodontists in country, noting that the 70 practitioners in the country is inadequate to serve over 200 million Nigerians. Narrowing it to Edo State, she said there are currently a total of 6 trained Orthodontists out of which three are professors of Orthodontics in the state, pointing out that this total number currently serves a population of over 3,233,366 with a represent ratio of approximately 1:539,000. She said this number is grossly inadequate for the

management of Orthodontic problems in both children and adults. She noted that this is in sharp contrast to the United States of America where there is one orthodontist to 5,054 people, noting that the figures were also encouraging in European countries and the UK. She called for the training of more specialists in Nigeria to meet the ratio obtained in developed countries. Professor Ize-Iyamu noted that the trainer to trainer ratio at the West African College of Surgeon, and the National Postgraduate Medical College of Nigeria is one consultant orthodontist to three and four doctors respectively,

adding, “This makes the pace slow, given the number of training centres are also few.” She said that out of the 70 orthodontists in the country, there were currently 10 professors in Nigeria with four in Lagos, three in Benin, two in Ife and one in Port Harcourt. She added,” There are only nine accredited dental schools for undergraduate training which involves teaching orthodontist as a subject and part of the curriculum. The total number of dental students approved in Nigeria by the Medical and Dental Council are 165 which translates to one professor to over 16 students and 21 million Nigerians.

She urged policy makers to formulate plans that would incorporate the poor in the society so that interventions that could transform a smile are made available in selected health facilities. Professor Ize-Iyamu, described Orthodontics as a dentistry specialty that addresses the diagnosis, prevention, management, and correction of mal-positioned teeth and jaws, and misaligned bite patterns. “It may also address the modification of facial growth, known as dentofacial orthopedics. Abnormal alignment of the teeth and jaws is very common,” she declared.

Coalition Calls for Passage of National Mental Health Bill Adedayo Akinwale in Abuja A coalition of Civil Society organisations under the auspices of Nigerian Mental Health recently called for passage of the National Mental Health Bill into law The coalition made the call in

Abuja during an awareness to commemorate the recent World Mental Health Day. It also urged the government to take proactive measures to adopt suicide prevention strategies within its strategic framework. Head, Media and Com-

munication, Mental Health for Youth Initiative (MHYI), Jakpo Ukuekwu decried that one in eight Nigerians suffers from mental health, hence, the need to pass the Bill into law. He said: “We are passionate about mental health and this bill can help make things easier

for Nigerians. “One in eight Nigerians actually suffer from mental health and this is a big issue. Even the youths are struggling with many issues and most of them don’t have anywhere to go to. “For us, it is really important that we create this awareness

especially among young people.” Also, the Community Engagement Officer and Sunshine Series Mind Wellness, Rachel Nsefik - Eyo explained that signing the Bill into law would help to improve mental health services in the country. She noted: “We are advocating

for the passage of the National Mental Health Bill 2020 into law. The bill is currently waiting for the signature of the president. “We are trying to push for the signing of the bill into law so that mental health services that we have in Nigeria can be improved upon.”

T H I S D AY ˾ THURSDAY, NOVEMBER 24, 2022

BUSINESS/MONEYGUIDE

Winbox Harps on Improved Psychological Safety Workplace to Boost Employee’s Productivity Gilbert Ekugbe Winbox Consulting has emphasised on the need for employers of labour to prioritise employee’s psychological safety for higher productivity and profitability. The Principal, Winbox Consulting, Mr. Deji Osasona, at the 2022 Cultural Champions Breakfast Buffet, themed, “Creating and sustaining psychological safety in today’s workplace,” said there are so many activities in the workplace that are toxic to human wellbeing and human performance, maintaining that many employees are currently under immense pressure from their employers which he said is hindering their performance to achieve the set goals of their respective organisations. “There are some things that have been happening over the years in various workplaces in Nigeria, that people have turned or carved out to be a resemblance of what I can call

a “Nigerian thing”. More than half of workplaces in Nigeria are toxic. We cannot just sit down and see this happening over the years. We have to seek ways to have an impact or create a new narrative or direction to address this challenge,” he said. “This is why we are having the breakfast buffet to inspire and celebrate people that will serve as vanguard of healthy, engaging, performance enhancing culture in various workplaces. They can be managers, talent managers, they can be team leads, it can be Human Resource professionals, they can be supervisors, they can be chief operational officer and the likes. These are people that represents promoting a workplace culture that is not toxic. Let us inspire them, let us gather some of them together, rub minds together inspire others and switch from what I call the vulture champions to become culture champions too promote the integrity of

humanity,” he added. Also speaking, the Lead, HR Function, MANTRAC Nigeria, Kaosarat Abdulkareem, said psychological safety is a concept that is is unpopular because of the way people view it, pointing out the need to change organisational culture to mean psychological safety to become the new normal for organisations. “We can make it the DNA of every organisation. When we talk about psychological safety people think we are talking about the therapy or you are talking about one coaching session, but it is actually the culture of every organisation. A lot of talents come into an organisation with high ability and high interest, but they go back with the lowest of ability and the lowest of interest, and is as a result of the operations process systems, communication style, leadership style, and that’s organisation and as well as the culture of the structure of that organisation,” she added.

Group Chief Executive, FCMB Group Plc, Mr. Ladi Balogun; Executive Director, Wholesale Banking, First City Monument Bank (FCMB), Mr. Obaro Odeghe; Managing Director of the Bank, Mrs. Yemisi Edun; Divisional Head, Agribusiness, Mr. Kudzai Gumunya and Group Production Manager, Psaltry International Limited, Odegua Ogunbo, during a courtesy visit and factory tour by the Management of FCMB to Psaltry Limited at Alayide Village, Ado-Awaiye in Oyo State...recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

Fidelity Bank Showcases Best of Nigerian Non-oil Exports at FITCC Kayode Tokede In what has been termed the largest trade exhibition by Nigerian-based businesses in the United Kingdom in recent times and a major move in increasing Nigeria’s foreign exchange earnings, Fidelity Bank Plc has hosted the maiden edition of its international trade expo. Held in London, United Kingdom, the expo tagged -the Fidelity International Trade and Creative Connect (FITCC), featured a host of activities designed to position Nigerian businesses for increased partnership, financing, product-offtake and investment opportunities in the United Kingdom and Europe. The MD/CEO, Fidelity Bank, Mrs. Nneka Onyeali-Ikpe, in her welcome remarks said, “In collaboration with our strategic

partners, we have created this platform to connect Nigerian exporters with UK buyers. This inaugural edition of the FITCC hosts more than 100 exhibitors from Nigeria with product offerings ranging from processed food to fashion, fintech and the arts. “Fidelity Bank is a leading financial institution in Nigeria and a market leader in supporting small and medium scale enterprises and export-oriented businesses. “This event is therefore an extension of the support that we provide to the business ecosystem in Nigeria as work to help them compete favourably on the global stage.” The well-attended event also featured keynote addresses by Prof Benedict Oramah, President and Chairman, African Export and Import Bank (AFREXIM)

and Aminu Takuma, Regional Coordinator, Nigerian Investment Promotion Commission (NIPC) who discussed “Leveraging International Partnerships to Transform Africa’s Trade & Creatives” and “Selling Nigeria to the World (Spotlighting Investment Opportunities and Incentives) respectively on Day 1 of the conference. Chairman, Fidelity Bank, Mustafa Chike-Obi gave a keynote address titled, “Connecting Nigeria to the World Through Trade Enhancements and Creative Exchange” while Karl Toriola, Chief Executive Officer, MTN Nigeria also anchored a fireside chat on “Fintech and the Creative Economy: The New Growth Frontiers for Nigeria” with Patrick Smith, Editor, Africa Confidential both on Day 2 of the conference.

Lankhorst: Going Green is the Future for Data Centers in Africa The Group Chief Executive Officer of the best-connected Tier III Carrier and Cloud neutral data centre in West Africa, Rack Centre, Jasper Lankhorst, has restated the company’s commitment to the green economy even as it has vowed to continually enhance its drive for sustainability in its operations. Lankhorst made this known at the just concluded 2022 AfricaCom/ Africa Tech Festival in Cape

Town, South Africa. Speaking during the panel session themed “The Importance of Going Green” for the future of Data Centres in Africa. He explained that Rack Centre, part of the pan-African data centre platform, was undertaking a range of measures that are tailored toward green design principles, some of which include switching from diesel to gas power generation, implementing water-efficient cooling systems,

implementing low-energy air circulation system and sourcing local materials and services wherever possible. According to him, the organisation is switching its power source from diesel to gas, not only to save more than $10 million a year in operating costs but also to reduce carbon footprint, reduce environmental impact and align with global sustainability data centre design trend.

FBN Holdings Wins “Great Place to Work”Awards Kayode Tokede FBN Holdings Plc hhas performed creditably at the Great Place to Work Awards ceremony held recently in Lagos. The holding company along with its subsidiary companies; First Bank of Nigeria Ltd, FBNQuest, and FBN Insurance Brokers were recognized at the prestigious event. FBN Holdings Plc received a Gold Certification as a Great Workplace attesting to the quality of its people practices. The holding Company

received the award for the ‘Best in Learning and Development’; this is evident with the deliberate focus on capability development for its employees towards building a highly productive workforce. FBNHoldings was also adjudged, the 3rd Best Workplace in the small size corporates category. In the other categories, First Bank of Nigeria Limited received a silver certification as a Great Workplace and also won the ‘Best in Corporate & Social Responsibility’, affirming its undisputable role and per-

formance in the sustainability space. The Bank was ranked as the 5th Best Workplace in the Large Corporates Category. FBN Insurance Brokers received Gold Certification while FBNQuest received Silver certification to cap a glorious evening for the Group at the event. Speaking on the awards, the Group Managing Director of FBN Holdings, Nnamdi Okonkwo said “the recognition and awards clearly underscore our commitment to best-in-class HR practices to foster a high-performance organization.’

(MILLION NAIRA)

AUGUST 2022 Money Supply (M3)

49,356,443.6

-- CBN Bills Held by Money Holding Sectors

50,601.36

Money Supply (M2)

49,305,842.3

-- Quasi Money

27,869,678.3

-- Narrow Money (M1)

21,436,164

---- Currency Outside Banks

2,680,236.81

---- Demand Deposits

18,755,927.2

Net Foreign Assets (NFA)

5,074,909.92

Net Domestic Assets(NDA)

27,869,678.3

-- Net Domestic Credit (NDC)

61,195,142.4

---- Credit to Government (Net)

21,001,401.5

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

40,193,740.9

--Other Assets Net

6,785,979.22

Reserve Money (Base Money

14,040,351.9

--Currency in Circulation

3,210,664.98

--Banks Reserves --Special Intervention Reserves

10,829,686.9 390,557.8

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

July 2022

Inter-Bank Call Rate

13.00

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

14.00

Treasury Bill Rate

2.76

Savings Deposit Rate

1.42

1 Month Deposit Rate

3.64

3 Months Deposit Rate

4.96

6 Months Deposit Rate

5.87

12 Months Deposit Rate

5.76

Prime Lending rate

12.10

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 24 OCTOBER, 2022

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

T H I S D AY ˾ THURSDAY, NOVEMBER 24, 2022

MARKET NEWS

NGX, IFC Sign MoU to Deepened Green Bond Sustainability in Nigerian Capital Markets Kayode Tokede Nigerian Exchange Limited (NGX) and International Finance Corporation (IFC), yesterday signed a Memorandum of Understanding (MoU) to further deepened green bond sustainability in Nigerian capital markets Speaking at the “Green and Sustainability Bond” workshop in Lagos, the Chief Executive Officer, NGX, Mr. Temi Popoola,

said the limited flow of climate finance remains a major issue for the implementation of mitigation and adaptation actions in Africa, particularly Nigeria. He said the Exchange in 2016 conceptualized and developed the Green Bond Product Paper, which was embraced and championed by the Debt Management Office (DMO) and the Federal Ministry of Environment in recognition

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

of the climate finance needs, particularly in Nigeria, and the urgent action required to combat climate change and its impact as enshrined in the Paris Agreement on Climate Change. According to him, “This endeavor resulted in the issuance of the first N10.69 billion or about $25.8 million 5-year green bond in 2017 to fund renewable energy development projects. This

S E C U R I T I E S QUANTITY TRADED

VALUE TRADED ( N )

followed the Federal Government of Nigeria’s ratification of the Paris Climate Agreement, which necessitated the need for long-term financing to meet Nigeria’s NDCs in lowering greenhouse gas emissions.” He said the bourse in its collaboration with internationally recognized organizations such as the IFC is targeted at sharing valuable green finance experiences and best

T R A D E D MAIN BOARD

practices, as well as promoting the development of sustainable finance market segments for supporting the government, policymakers, regulators, financial market participants, domestic and international thought leaders, investors, and other market stakeholders. He expressed that the management of the Exchange is committed to promoting the development of long-term financial solutions that take

A S O F

into account the financial risks and possibilities posed by climate change. The Senior Country Manager, IFC, Kalim Shah said the corporation is partnering with NGX on sustainable financial products in the capital market and country at large. He noted the MoU signed with Exchange targeted at facilitating knowledge sharing with capital market stakeholders on green social and sustainability.

2 3 / 1 1 / 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

THURSDAY, ͺͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

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

7 R S * D LQ H U V T ic k er N SLT EC H D A N GC EM

P ric e C hg %

T ic k er

P ric e C hg %

0.22

10.0%

T R A N SC OR P

26.5

6.1%

262.30

10.0%

A C C ESSC OR P

16.4

3.6% 0.0%

79.00

9.7%

ET I

12.1

0.48

9.1%

GT C O

11.5

0.5%

P R EST IGE

0.40

8.1%

Z EN IT H B A N K

11.1

2.7%

1.81

7.7%

A IIC O

7.3

5.7%

0.28

7.7%

J A IZ B A N K

6.3

0.0%

R T B R ISC OE

0.29

7.4%

FCM B

5.2

0.0%

VIT A F OA M

21.50

6.7%

OA N D O

5.1

5.3%

1.22

6.1%

UB A

4.2

1.4%

M A N SA R D J A P A ULGOLD

T R A N SC OR P

7 R S 7 U D G H V E \ 9 D OX H

7 R S / R V H U V T ic k er

P ric e

P ric e C hg %

T ic k er

Value

SC OA

1.17

-9.3%

Z EN IT H B A N K

250.0

2.7%

R OYA LEX

0.71

-9.0%

GT C O

233.6

0.5%

ET ER N A

5.40

-4.8%

B UA C EM EN T

P ric e C hg %

218.2

9.7%

212.4

10.0%

C UT IX

2.02

-4.7%

D A N GC EM

CHA M S

0.22

-4.3%

A C C ESSC OR P

139.6

3.6%

-3.1%

ET I

121.2

0.0%

-3.0%

A IR T ELA F R I

92.5

0.0%

52.0

0.0%

PZ R ED ST A R EX

9.50 2.30

LA SA C O

0.84

-2.3%

UP D C

0.90

-2.2%

GUIN N ESS

49.9

3.3%

-1.9%

N GXGR OUP

44.3

0.0%

UN IT YB N K

Afrinvest West Africa Limited

Vo lum e

C OR N ER ST

B UA C EM EN T

P ric e

0.51

Investment Research

Brokerage

Asset Management

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com Abiodun Keripe | AKeripe@afrinvest.com

Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu | dasimiyu@afrinvest.com

FRIDAY, NOVEMBER 25, 2022 • T H I S D AY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 22Nov-2022, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 11.53% AIICO Balanced Fund 3.69 3.74 5.49% 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 8.83% Anchoria Equity Fund 136.74 138.24 -1.80% Anchoria Fixed Income Fund 1.16 1.16 1.14% info@anchoriaam.com 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 20.60 21.22 1.53% ARM Discovery Balanced Fund 482.36 496.90 6.91% ARM Ethical Fund 41.38 42.62 6.21% ARM Eurobond Fund ($) 1.09 1.09 1.20% ARM Fixed Income Fund 1.07 1.07 5.43% ARM Money Market Fund 1.00 1.00 9.82% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund N/A N/A N/A AVA GAM Fixed Income Naira Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 139.63 140.61 4.93% AXA Mansard Money Market Fund 1.00 1.00 11.84% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.09 2.09 -0.43% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.22 2.27 2.70% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalﬁf@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.03 1.03 7.58% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 11.89% Cordros Milestone Fund 131.65 132.54 5.78% Cordros Dollar Fund ($) 112.20 112.20 5.00% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 10.03% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 12.30% EDC Nigeria Fixed Income Fund 1,142.28 1,153.25 2.29% EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 10.35% Emerging Africa Bond Fund 1.06 1.06 8.73% Emerging Africa Balanced Diversity Fund 1.03 1.03 2.20% Emerging Africa Eurobond Fund 104.44 104.44 2.84% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund N/A N/A N/A FBN Balanced Fund N/A N/A N/A FBN Halal Fund N/A N/A N/A FBN Money Market Fund N/A N/A N/A FBN Dollar Fund N/A N/A N/A FBN Smart Beta Equity Fund N/A N/A N/A FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 11.47% Legacy Debt Fund 3.58 3.58 -10.58% Legacy Equity Fund 1.82 1.85 4.48% Legacy USD Bond Fund 1.25 1.25 3.61% 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 Coral Income Fund Coral Money Market Fund

3,676.78 100.00 1.12

6.73% 13.98% 0.00%

FSDH Dollar Fund 1.12 1.12 4.14% GUARANTY TRUST FUND MANAGERS LIMITED 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 N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.64 1.67 15.76% Lotus Halal Fixed Income Fund 1,169.17 1,169.17 8.36% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.02 102.02 9.27% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.65% 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 1.63 1.67 3.72% PACAM Fixed Income Fund 10.11 10.19 -9.28% PACAM Money Market Fund 10.00 10.00 9.43% PACAM Equity Fund 1.35 1.37 -4.86% PACAM EuroBond Fund 118.73 121.93 4.39% 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 N/A N/A N/A SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.09 1.09 10.55% 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 3,494.18 3,523.49 3.09% Stanbic IBTC Bond Fund 244.06 244.06 3.60% Stanbic IBTC Ethical Fund 1.34 1.36 7.14% Stanbic IBTC Guaranteed Investment Fund 330.46 330.46 5.53% Stanbic IBTC Iman Fund 250.75 253.59 7.32% Stanbic IBTC Money Market Fund 1.00 1.00 11.34% Stanbic IBTC Nigerian Equity Fund 11,438.77 11,577.22 4.77% Stanbic IBTC Dollar Fund (USD) 1.36 1.36 4.91% Stanbic IBTC Shariah Fixed Income Fund 120.39 120.39 2.98% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 114.08 114.08 7.24% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.88 0.90 -0.16% United Capital Balanced Fund 1.31 1.33 0.81% United Capital Wealth for Women Fund 1.13 1.14 9.22% United Capital Sukuk Fund 1.09 1.09 7.19% United Capital Fixed Income Fund 1.94 1.94 6.27% United Capital Eurobond Fund 124.65 124.65 5.79% United Capital Money Market Fund 1.00 1.00 0.00% 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 13.48 13.59 2.15% Zenith ESG Impact Fund 15.18 15.31 3.76% Zenith Income Fund 23.38 23.38 6.52% Zenith Money Market Fund 1.00 1.00 11.34% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 3.91 4.01 -2.36% Vetiva Consumer Goods Exchange Traded Fund 5.61 5.71 -4.01% Vetiva Grifﬁn 30 Exchange Traded Fund 16.46 16.66 -6.86% Vetiva Money Market Fund 1.00 1.00 11.07% Vetiva Industrial Goods Exchange Traded Fund 19.72 19.92 -1.29% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 135.06 137.06 -14.30%

REITS NAV Per Share

Yield / T-Rtn

120.87 52.63

6.58% 2.50%

Bid Price

Offer Price

Yield / T-Rtn

14.38 125.18 92.13 17.10 16.40

14.48 127.37 93.72 17.20 16.50

2.82% -1.90% -7.86% 9.68% -0.48%

NAV Per Share

Yield / T-Rtn

107.59

0.00%

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

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.

THURSDAY NOVEMBER 24, 2022 • T H I S D AY

THURSDAY, NOVEMBER 24, ͰͮͰͰ ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Russia Pounds Ukrainian Power Grid With New Airstrikes Russia launched new airstrikes Wednesday against Ukraine’s already-battered power grid, with Moscow’s forces apparently intent on inflicting anguish on Ukrainians at the onset of winter. Authorities in the capital, Kyiv, said three people were killed in a strike that hit a two-story building. Ukrainian officials reported power outages in numerous cities, including parts of Kyiv and neighbouring Moldova. Kyiv Mayor Vitali Klitschko posted on Telegram that “one of the capital’s infrastructures facilities has been hit,” wounding one person. In the western city of Lviv, near the border with Poland, the mayor said the whole city had lost power, although there was no immediate information on how many targets had been hit. The latest Russian strikes followed repeated attacks on power facilities throughout Ukraine in recent weeks, causing widespread blackouts. Ukraine’s Zaporizhzhya nuclear power plant, Europe’s largest, again lost access to external electricity and had to rely on emergency diesel generators for the power it needs for reactor cooling and other essential nuclear safety and security functions, the International Atomic Energy Agency reported..

Workers Protest, Beaten at VirusHit Chinese iPhone Factory

Employees at the world’s biggest Apple iPhone factory were beaten and detained in protests over pay amid anti-virus controls, according to witnesses and videos on social media Wednesday, as tensions mount over Chinese efforts to combat a renewed rise in infections. Videos that said they were filmed at the factory in the central city of Zhengzhou showed thousands of people in masks facing rows of police in white protective suits with plastic riot shields. Police kicked and hit a protester with clubs after he grabbed a metal pole that had been used to strike him. Frustration with restrictions in areas throughout China that have closed shops and offices and confined millions of people to their homes has boiled over into protests. Videos on social media show residents tearing down barricades set up to enforce neighbourhood closures. The ruling Communist Party promised this month to try to reduce disruptions by shortening quarantines and making other changes. But the party is sticking to a “zeroCOVID” strategy that aims to isolate every case while other governments relax controls and try to live with the virus. Last month, thousands of employees walked out of the iPhone factory operated by Taiwan’s Foxconn Technology Group over complaints about unsafe working conditions following virus cases. A protest erupted Tuesday over complaints Foxconn changed conditions for new workers who were attracted by offers of higher pay, according to Li Sanshan, an employee..

Multiple Dead in Virginia Walmart Shooting

Police in the US state of Virginia are investigating a shooting at a Walmart store late Tuesday that left at least six people dead. The city of Chesapeake said early Wednesday that police had confirmed the number of fatalities and that the shooter was also dead. Authorities have not said how the shooter died or given many details about the circumstances of the shooting. A news conference was planned for Wednesday morning. Walmart said in a statement it was “shocked at this tragic event.” “We’re praying for those impacted, the community and our associates. We’re working closely with law enforcement, and we are focused on supporting our associates,” the company said. The attack comes just days after a shooting at an LGBTQ nightclub in Colorado Springs, Colorado, that left five dead and 18 wounded.

Somalia: Military Operation Kills 49 Al-Shabab Militants

Police, Refugees Clash at Overcrowded Malawi Camp

America’s top diplomat on Tuesday Malawi police have fired tear gas and clashed with refugees at the country’s overcrowded Dzaleka refugee camp. Witnesses say the clashes broke out after a group of refugees got angry when they did not receive materials for shelter and began breaking windows. The refugees began rioting Tuesday when they discovered that their names were missing from a distribution list of people they thought were supposed to receive tents and other materials for shelter. “It all started Friday during the item distribution exercise,” said Sabina Mulepo, a refugee from the Democratic Republic of Congo. “Those who were supposed to receive the items were told that they already received the items while others were told that their names were not on the list.” Mulepo says the clashes took place when a group of refugees who had lodged a complaint to camp officials felt unsatisfied with the response they got. Plan International Malawi is among the groups that distribute items to refugees, including tents, soap, clothes and plastic buckets.

President Bolsonaro Wants Brazil Presidential Election Annulled

More than three weeks after losing a reelection bid, President Jair Bolsonaro on Tuesday blamed a software bug and demanded the electoral authority annul votes cast on most of Brazil’s nation’s electronic voting machines, though independent experts said the bug did not affect the reliability of results. Such an action would leave Bolsonaro with 51 per cent of the remaining valid votes — and a reelection victory, Marcelo de Bessa, the lawyer who filed the 33page request on behalf of the president and his Liberal Party, told reporters. The electoral authority has already declared victory for Bolsonaro’s nemesis, leftist former President Luiz Inácio Lula da Silva, and even many of the president’s allies have accepted the results. Protesters in cities across the country have steadfastly refused to do the same, particularly with Bolsonaro declining to concede. Liberal Party leader Valdemar Costa and an auditor hired by the party told reporters in Brasilia that their evaluation found all machines dating from before 2020 — nearly 280,000 of them, or about 59 per cent of the total used in the October 30 runoff — lacked individual identification numbers in internal logs.

US Sanctions Iranian Oﬃcials over Crackdown on Protests The United States on Wednesday targeted three Iranian security officials under human

rights-related sanctions, the US Treasury Department said, citing Tehran’s ongoing crackdown on protesters in Kurdish-majority areas. The latest US sanctions since demonstrations broke out nationwide in response to the death of 22-year-old Kurdish woman Mahsa Amini in police custody in September targeted key officials involved in Iranian authorities’ “particularly severe security response” to protests in Kurdish cities in northwestern Iran, the Treasury Department said. The sanctions hit two officials in the Kurdish city of Sanandaj, Governor Hassan Asgari and Alireza Moradi, the commander of the city’s law enforcement forces. The Treasury said Asgari and other officials provided a false cause of death for a 16-year-old protester reportedly killed by security forces. Also targeted was Mohammad Taghi Osanloo, a commander with the Islamic Revolutionary Guard Corps ground forces overseeing another Kurdish city, Mahabad, where additional forces have been deployed in response to the protests, the Treasury said. Iran’s mission to the United Nations in New York did not immediately respond to a request for comment.

Taiwan Struggles to Shake oﬀ Corruption in Local Politics In the central Taiwanese city of Taichung earlier this month, as the country prepared to vote in local elections, the same word came up several times during a speech by Democratic Progressive Party hopeful Shen Shu-cheng: heijin. The term directly translates to “black gold,” but most in the audience understand that it refers to corruption, vote buying, or illicit money used for political purposes. The term is also something observers might refer to the recent past, not the local elections due to take place on November 26. Shen is running for county councillor in Nantou, Taiwan’s mountainous, land-locked county that demonstrates the limits of even one of Asia’s strongest democracies. The elections this weekend are highly competitive and see multiple candidates vying for some 11,000 positions, among them 930 slots for mayors, magistrates, and county and city councillors. The heijin era saw its heyday in the 1990s during Taiwan’s bumpy and crime-ridden transition to democracy after nearly 40 years of martial law ended in 1987. Some blame the sudden rise of the criminal underworld as guns became widely available post-martial law, while other academics have even blamed President Lee Teng Hui, who led Taiwan between 1988 and 2000. Lee was reportedly willing to work with less than savoury characters when he lacked support within the Chinese Nationalist Party, or the Kuomintang (KMT), during Taiwan’s transition from a single party-state to democratic rule in 1996.

Somalia says its army, supported by international partners, has conducted an operation in the lower Shabelle region that killed 49 al-Shabab militants. A statement issued by the Somali Information Ministry late Wednesday said the military operation occurred in Buulo Madiino in the country’s Lower Shabelle region. VOA could not independently verify the Somali government’s death toll, but residents in the region reported that they heard explosions. “The targeted operation went as planned and destroyed all the military vehicles and weaponry of the Khawarij Al-Shabaab,” said the ministry in a statement. Khawarij is a term for someone who deviates from Islam. The government said the militants were hit while planning to attack the Somali people. It also said there had been airstrikes involved in the operation, but it did not mention which country conducted the strikes.

Casualties As Twin Blasts Rock Jerusalem

Two blasts went off near bus stops in Jerusalem at the height of morning rush hour on Wednesday, killing a CanadianIsraeli teenager and injuring at least 18, in what police said were suspected attacks by Palestinians. The first explosion occurred near a typically crowded bus stop on the edge of the city. The second went off about half an hour later in Ramot, a settlement in the city’s north. Police said one person died from their wounds, and at least three were seriously wounded in the blasts. According to a notice announcing his death, the victim was identified as Aryeh Shechopek, a teenager who was heading to a Jewish seminary when the blast went off. Shechopek was also a Canadian citizen, according to Canada’s Ambassador to Israel, Lisa Stadelbauer. There were conflicting reports about Shechopek’s exact age.

Convicted Killer on Death Row Escape from Bangladesh Court Two Islamist militants convicted of killing Avijit Roy, an American blogger critical of Islamic fundamentalism, and his Bangladeshi publisher, escaped from a crowded court in Bangladesh’s capital, Dhaka, Sunday. Suspected members of the al-Qaidainspired local militant outfit Ansarullah Bangla Team, or ABT, sprayed toxic

chemicals into the eyes of police officers and whisked away the convicts on motorcycles as they were leaving an anti-terrorism tribunal, Harun Ur Rashid, chief of the Detective Branch of Dhaka Metropolitan Police said. A CCTV video clip from a Sunday broadcast on television channels showed three men fleeing on a motorbike, followed by one rider on another bike. The two riders on the first motorbike were the two escaped death row prisoners, police said.

Outgoing Pakistan Army Chief Admits Involvement in Politics

Pakistan’s outgoing military chief acknowledged Wednesday that decades of “unconstitutional” interference in national politics by his powerful institution had periodically exposed it to public criticism. General Qamar Javed Bajwa, who is due to retire next week, made the admission in a nationally televised address to families of fallen soldiers at the military headquarters in the garrison city of Rawalpindi. The 62-year-old general also rejected as “fake and false” claims by populist deposed prime minister Imran Khan that the United States had played a role in toppling his government in April this year.

THURSDAY, ͺͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

ENDORSED!... The Acting leader of Afenifere, Pa Ayo Adebanjo openly endorsed and raised the hand of the Presidential Candidate of the Labour Party, LP, Mr Peter Obi, at a rally in Ibadan Oyo State …yesterday

Fintechs, Bankers, Policymakers Gather as Financial Inclusion Confab Begins Today Buhari, Emefiele, others to grace occasion as CBN targets 95% inclusion by 2024 James Emejo in Abuja All is set for the maiden International Financial Inclusion Conference 2022 (IFIC’22) which President Muhammadu Buhari is expected, to be declared open today.

The event, scheduled to commence today, is the first of its kind since the launch of the Nigerian Financial Inclusion Strategy in 2012. The conference, which would be graced by influencers, thinkers, and policymakers in the global

financial ecosystem, will discuss policies, practices, approaches, tools, technologies as well as products and services to further deepen access to financial services in the country. The National Financial Inclusion Steering Committee (NFISC) which

is headed by the Central Bank of Nigeria (CBN) had announced that Buhari would be the guest of honour at the conference themed: “Financial Inclusion for All: Scaling Innovative Digital Models.” A statement by the NFITC

Buhari Seeks Expansion of Extradition Law, Proposes Stiffer Punishment for Fugitive Refusing Surrender Udora Orizu in Abuja President Muhammadu Buhari has sent to the National Assembly an Executive Bill for the amendment of Extradition Act, 2004, with a view to expand its enforcement scope beyond Commonwealth countries. The bill which scaled through first reading on the floor of the House, seeks to amend Section 2 of the Principal Act, by deleting the words ‘to Commonwealth Countries’, and substituting the sub-section (1) with a new subsection (1), which provides that: “subject to the provisions of this section, this Act shall apply to every separate country within the Commonwealth, and any other country with whom Nigeria establishes an extradition treaty or arrangement.”

In the bill's draft, a copy seen by THISDAY, the president also sought amendment to Section 7 of the Principal Act by inserting a new subsection (4), which provides that: “The procedure for the issuance of a warrant of arrest shall be set out in the Schedule to this Act.” The president also proposed an amendment of Section 15 of the Principal Act, by inserting immediately after the existing section 15, a new section 15 A, on the subject matter: ‘Prosecution of fugitive upon refusal to surrender.’ It provides that: “Where Nigeria refuses to surrender a fugitive criminal to a requesting State on a ground other than the ground of dual criminality, Nigeria shall upon a request by the requesting State, commence prosecution of the fugitive under a special arrangement between Nigeria and

the requesting State.” In the same vein, the Executive bill seeks amendment of Section 20(2) of the Principal Act by substituting the existing subsection (2), with a new subsection (2) which provides that: “For the purposes of this Act – ‘returnable offence’ means an offence however described, which is punishable by imprisonment for a term of two years or more, in Nigeria, and a Commonwealth Country or country having an extradition Treaty with Nigeria seeking the surrender of the fugitive.” As stipulated in the bill under ‘Schedule provisional arrest warrant’, Clause 1 provides that: “Upon receipt of information that a fugitive is in Nigeria, suspected to be in or on his way into Nigeria, a Judge may issue a provisional arrest warrant under section 6 of

the Act, to bring the fugitive before the Court.” Clause 2 further provides that: “Before issuing a provisional warrant of arrest upon information, a Judge shall consider whether - (a) the alleged offence is an extraditable offence; and (b) there is sufficient evidence or information to justify the issuance of a provisional warrant of arrest.” In addition, Clause 3 provides that: “The provisional warrant of arrest shall direct that the fugitive to be brought before the issuing Judge within 48 hours of effecting the arrest or such longer period as the Court may deem reasonable.” The Chairman House Committee on Rules and Business, Hon. Hassan Fulata in line with legislative procedure, will gazette the Bill for second reading during which members are to make inputs.

Secretariat which was signed by Dr. Paul Oluikpe, further disclosed that the conference would feature the launch of the revised National Financial Inclusion Strategy, the Nigeria Financial Services Maps (NFS Maps), the Women Agent Framework, the National Fintech Strategy and the Payment System Vision 2025. It would also showcase the Innovation Labs exhibition highlighting innovative products and solutions and the financial inclusion awards, which recognises stakeholders who have contributed to tackling exclusion and the advancement of financial inclusion in Nigeria. The organisers said the event would help Nigeria lead an important global conversation on the journey to closing the financial inclusion gap for the last mile in Sub-Saharan Africa and globally. Commenting on the conference, CBN Governor, Mr. Godwin Emefiele, who also chairs the NFISC said, “We are excited to host the maiden International Financial Inclusion Conference in Nigeria. The conference presents a unique opportunity to showcase our financial inclusion journey, particularly the innovative use cases that continue to emerge within the dynamic payments and financial system in the country.” He added, “These will be important as we work to ensure 95 per cent of Nigerians are financially included

INEC VOWS TO END VOTE BUYING, VIOLATION OF CAMPAIGN FINANCES campaigns. This will be uploaded to our website and social media platforms. "Beyond the provisions of the law, the commission held an emergency meeting of the Inter-Agency Consultative Committee on Election Security (ICCES) in the wake of the recent condemnable attacks on our Local Government offices in Ogun and Osun States. Far-reaching resolutions were arrived at, including the deployment of joint security teams to our facilities nationwide. "Beyond that, the Inspector General of Police summoned an extraordinary meeting with leaders of political parties on the imperative of peaceful campaigns. We will continue to follow up on that bold step in our engagement with political parties and other critical stakeholders. "On technology, the Electoral Act 2022 requires the commission to deploy technology on election day for voter accreditation and the

upload of polling unit results to the INEC Result Viewing (IReV) portal. These processes will be achieved through the use of the Bimodal Voter Accreditation System (BVAS). Yakubu assured Nigerians that the BVAS, has come to stay as the only means of voter accreditation, adding that, there would be no incident form on election day. Results from polling units, he maintained, would be uploaded to the IReV portal in real-time, and that, Nigerians would view the results as they are uploaded. "For the last two years beginning from August 2020, the commission has published results direct from polling units in 105 off-cycle governorship and bye-elections in real-time and the results can still be viewed on the IReV portal. The 2023 general election will not be different. "There is no truth in any insinuation to the contrary. This should put to rest the erroneous notion that Nigerians will not have

the opportunity to view polling unit results uploaded by Presiding Officers in real-time on Election Day. "On the collection of Permanent Voters Cards (PVCs) for fresh registrations in 2022 as well as applicants for transfer to other polling units and the replacement of damaged or lost cards, we wish to assure Nigerians that the commission will soon release the timelines and procedure for the collection of PVCs. "With the ongoing display of the register for claims and objections, the commission considered it appropriate to conclude the process so that the cards will not be in the hands of ineligible registrants, who may attempt to use them during the election. We understand the anxiety of Nigerians to collect their PVCs and appeal for a little patience as we speedily conclude the necessary safeguards for a transparent process. "The cleaning up of the voters’ register is critical to elections. We

have been transparent in making the register available both online and manual copies in 9,583 locations nationwide (8,809 Wards and 774 Local Government Areas) for scrutiny by citizens as required by law. The voters’ register is the largest database of citizens in Nigeria. "Like all databases of this size, it cannot be perfect. However, the Commission believes that Nigerians are the real owners of the voters’ register. They are, therefore, in a best position to point out ineligible persons on the register, including deceased persons, that will help the commission to improve on this critical national asset. I want to reassure you that based on the observations made by Nigerians, we will dutifully clean up the register ahead of the election." Convener of the Situation Room, Ene Obi, while speaking, said this year’s stakeholders 'forum on elections was focused on the role of stakeholders in ensuring

free, fair, peaceful and credible elections, noting that the 2023 general election would take place in the context of a grave security crisis of huge concern. "We wish to use this forum to critically assess the current political environment and make recommendations and suggestions in the preparations and conduct of the 2023 general election," she said.

British High Commissioner Explains Why 2023 Poll is Important

The British High Commissioner to Nigeria, Mrs Catriona Lang, has reiterated that, next year’s general election was important to the United Kingdom, Africa and the rest of the world and that the British government policy to impose visa restrictions on those involved in violent acts during elections remained unchanged. Continues online

by 2024. The conference also creates a platform to spotlight other countries’ experiences, the role of policy innovation, digital technology, and out-of-the-box approaches in tackling exclusion in underserved segments, and the strategic importance of public-private partnerships to promote digital financial services and economic sustainability.” The IFIC’22 would bring together delegates, experts, and speakers across the world to examine the opportunities, and identifying concrete solutions and interventions that would ensure the achievement of the nation’s financial inclusion objectives. Other distinguished personalities expected at the conference are the Secretary to the Government of the Federation, Mr. Boss Mustapha, and the Minister of Communications and Digital Economy, Mr. Isa Ali Pantami. Also, others are the Deputy Governor of the Bank of Ghana, Mrs. Elsie Addo- Awadzi; Special Adviser to the President, International Labour Organisation (ILO), Ambassador Chad Blackman; Executive Director, Alliance for Financial Inclusion (AFI), Dr. Alfred Hannig, and Deputy Governor of CBN, Mrs. Aishah Ahmad amongst others. In addition, participants include the Group CEO of Access Holdings Plc, Mr. Herbert Wigwe; Senior Programme Office, Bill and Melinda Gates Foundation, Ms. Anna Wallace and the CEO of Financial Alliance for Women, Ms. Inez Murray; Former Deputy Governor Central Bank of Lesotho & Chair Expert Leaders Group of the Graca Machel Trust, Ms. Gail Makenete; the CEO of PAPSS, Mr. Mike Ogbalu III, and Associate Dean of the Lagos Business School, Professor Olayinka David-West, amongst others. According to Oluikpe, “The NFIS set the target for financial inclusion in Nigeria at 80.0 per cent by 2020. But since its launch, advancements have been recorded in financial inclusion, resulting in the exclusion rate dropping from 46.3 per cent in 2010 to 35.9 per cent in 2020 (despite significant annual growth in the eligible bankable population per annum) according to the Access to Financial Services Survey conducted by EFINA. The national target for inclusion has since been revised to 95 per cent by 2024.” He attributed the progress recorded in NFIS to the significant evolution of the Nigerian payments and financial system driven by rapid technological innovation, the emergence of a vibrant digital economy, and the proactive regulatory policies of the CBN and other policymakers.

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NEWS

LAUNCH OF TECHNOGYM... L-R: Brand Ambassador, Technogym Nigeria, Ekemini Ekerette; MD/CEO Black Pelican Limited Mr. Michael Owolabi, and actress, Kate Henshaw, at the oﬃcial launch of Technogym showroom in Aboyade Cole, Victoria Island, Lagos…recently

PDP: Buhari, Adamu Avoiding Tinubu over Links to Narcotics Mocks APC presidential candidate over their absence at Delta rally Chuks Okocha in Abuja The Atiku/Okowa Presidential Campaign Organisation, yesterday, alleged that President Muhammadu Buhari and the All Progressives Congress (APC) National Chairman, Senator Abdullahi Adamu, were already avoiding the presidential candidate of the party, Bola Tinubu, over his unexplained link to narcotic deals in the United States. The opposition party, however, mocked Tinubu over the absence of the duo at his presidential rally in Warri, Delta State, last Saturday. The absence of these two key APC leaders at the rally after the official flag-off in Jos, Plateau State, may be confirming speculations that his presidential campaign has already been abandoned by his party leaders due to his inability to adequately explain his link to a narcotic trafficking case in which he forfeited a whopping $460,000.

In statement by Kola Ologbondiyan, one of the spokespersons of the Atiku/Okowa Presidential Campaign, "It is apparent that President Buhari and Senator Adamu may be tactically avoiding the damage of being held responsible for parading a candidate that has failed to explain his links with narcotics drug money. "From all indications, APC leaders and Nigerians are now distancing themselves from the Tinubu/Shettima Campaign, because of the blight cast by the narcotic trafficking case as well as other disgraceful indictments, which the APC presidential candidate and his running mate, Senator Kashim Shettima, have not been able to extricate themselves from. "Nigerians are expressing concerns on how President Buhari, who as a military Head of State, some 38 years ago, ordered the execution of drug couriers, would be marketing

Rand Merchant Bank Celebrates 10 Years of Offering Banking Service in Nigeria Rand Merchant Bank Nigeria has celebrated its 10th anniversary of offering banking services in Nigeria. To this end, a statement yesterday, revealed that the financial institution also used the ceremony to celebrate clients, stakeholders and partners. It was also an opportunity to formally welcome the bank’s new Chief Executive Officers, Dalu Ajene, and bid a fond farewell to the immediate past CEO, Michael Larbie whose 10-year tenure as RMB Nigeria’s pioneer CEO came to an end on October 31, 2022. Larbie spearheaded the establishment of RMB Nigeria and was pivotal to the business’s success and recognition as the market leading merchant bank in Nigeria. “Michael Larbie will remain with RMB and has been appointed as the of Head of International and Broader Africa from 1 November 2022. In this exciting role, he will focus on assisting and catalysing growth for African businesses and governments in the context of a challenging economic and

socio-political environment, while simultaneously increasing RMB’s efforts to facilitate investment flows into Africa,” the statement explained. Ajene, previously Head of Coverage for RMB, would take up the mantel of RMB Nigeria CEO. He brings over 19 years of rich experience in financial services working for global and African investment banks and has executed $15 billion worth of advisory, capital markets and financing transactions in several continents including North America, Europe, Middle East and Africa. He shared his excitement of the legacy he picks up from Michael, the growth RMBN has experienced to date and the central role that clients play in RMB Nigeria’s successes: “At RMB Nigeria we are passionate about asking the hard questions and proffering innovative solutions to our clients. We are proud of our 10 years milestone and honoured to have grown our client base, formed strong and resilient relationships with our clients, partners, and stakeholders’ overtime.

a presidential candidate in whose account a suspected $460,000 linked to narcotic drug was forfeited. "Our campaign counsels Asiwaju Tinubu to note the handwriting on the wall, which signals that he is only surrounded by paid sycophants, flatterers and minions,

who will also abandon him before the February 25, 2023 scheduled date of election. “Of course, the APC should know that there is no way Nigerians can elect individuals fingered in trafficking in narcotics, forgery, perjury, treasury-looting and

other atrocious criminal activities into the very sensitive office of the President of the Federal Republic of Nigeria,” he said. The Atiku/Okowa campaign, however, commended Nigerians for their unrelenting support for the presidential candidate of the

Peoples Democratic Party (PDP), Atiku Abubakar and his running mate, Senator Ifeanyi Okowa, who have shown integrity, competence and willpower to lead the charge in the mission to rescue and rebuild Nigeria from the misrule of the APC.

Atiku: My Cabinet Will Be More Than 35 Per cent Beijing Sensitive Urges women to deliver their polling units Chuks Okocha in Abuja Presidential Candidate of the Peoples Democratic Party (PDP), Atiku. Abubakar, yesterday said if he was elected president next year, his cabinet would be more than a 35 percent Beijing affirmative action. Atiku, who contended that women were more resourceful than men, however, urged every woman to endeavour to deliver their polling units. He assured them that his administration would implement more than the recommended gender affirmative action. According to Atiku, while inaugurating the PDP Women Presidential Campaign Council, "We don't need to be told the role of women. They are the largest voting population and loyal party members, hence, we carry women

along at all times." Atiku recalled his visit to Sweden, when he was vice president, saying he observed that their prime minister, foreign minister, the education minister were all women, but he checked on members of his delegation, only a woman was in his team. "We must comply with Beijin declaration. Nigeria can do more than that. By active participation during this campaigns, we will be able to identify the talents among you," he said. Atiku, therefore, challenged the PDP women, saying, "I'm challenging you, give us more than your one hundred per cent. If you want to be relevant deliver your polling unit." Explaining how important the women were, he cited the instance of the Option A4 era, saying, "The

queue of women during option A4 was longer than that of men. Come out and campaign and make sure that your vote is protected." The National Chairman of PDP, Dr. Iyorchia Ayu, who inaugurated the Women campaign council thanked Nigerian women whom he said were working hard to ensure the success of the PDP presidential candidate and his running mate. He said women worked harder to see to the PDP, in all election, adding, "When you educate a woman, you empower a nation." According to Ayu, women were reasonably represented when PDP was in power and gave kudos to Atiku for recognising women like Dr. Ngozi Okonjo-Iweala and others. He assured them that the PDP would ensure that the 35 gender affirmative action would be implemented by the party,

because the PDP believed in the powers of women in governance. In her speech, the PDP Women leader, Prof. Stella Atoe-Effah, said, "There is no gainsaying the fact that women form the largest chunk of the population of Nigerians voters. The Women Campaign Council will also have to deal with a large part of the youths. We know where these young women are, we will mobilise them to vote for PDP at all levels. "It is important to state that women are natural influencers. We will put our God-given nature to use by influencing ourselves, our children, our husbands, our friends, our families, corporate bodies and the nation at large to vote for a great political colossus and a president that will move our country on the path of peace, prosperity, justice, equity and progress."

Buhari Names Media Aide, Onochie, NDDC Board Chairman Sunday Aborisade in Abuja President Muhammadu Buhari, yesterday, asked the Senate to confirm the appointment of his Special Assistant on New Media, Lauretta Onochie, as the substantive Chairman for the Board of the Niger Delta Development Commission (NDDC). Buhari's letter, which was read at plenary by the Senate President, Ahmad Lawan, also named 14 others as Managing Director and members of the Board. Lawan said the President appointed Ifeanyi-Onochie from Delta State as the Chairman, representing

the South-south geopolitical zone on the board. He also appointed Chief Samuel Ogbokwu, from Bayelsa State, as the Managing Director, who would serve for a term of two years, in order to complete the term of his predecessor in office. Other members were Dimgba Erugba, representing Abia State; Dr. Emem Willcox Wills (Akwa Ibom), Elder Denyanbofa Dimaro (Bayelsa State), Hon. Orok Duke (Cross River) and Dr. Pius Odudu (Edo State). Also on the board were Engineer Anthony Ekenne, (Imo State), Hon. Gbenga Edema

(Ondo State), Elekwachi Dimkpa (Rivers State), Alhaji Mohammed Kabir Abubakar, ( Nasarawa State, representing North-Cenral zone), Alhaji Sadiq Sami Sule-Ikoh ( Kebbi State, North-West) and Prof. Tahir Mamman SAN, (Adamawa State, North-East) The President also nominated Major-General Charles Airhiavbere (rtd) from Edo State as the (Executive Director, Finance) and Charles Ogunmola, from Ondo State, as the Executive Director, Projects. Part of the letter read: "Dear Distinguished Senate President, confirmation of appointments of Chairman and members of

the Niger Delta Development Commission. "In accordance with the provisions of Section 2(2) A of the NDDC Act, Cap N86, Laws of the Federation of Nigeria 2004, I hereby present the underlisted 15 names of nominees as Chairman and members of the NDDC for confirmation by the Senate. Copies of their Curriculum Vitae are attached herewith. "While I hope the request would receive the usual expeditious consideration, and confirmation of the Senate, please accept, the Distinguished Senate President, the assurances of my highest consideration."

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NEWS

ANNUAL BUSYBEE EVENT BUSINESS SUMMIT... L-R: CEO, Chillis Pot, Stella Naiye; CEO, GazMadu Studios, Yagazie Eguare; CEO, Oomph Events, Ope Bello; Convener BusyBee Event Business Summit, Bisi Sotunde; CEO, Bisbam Global Ventures, Bisola Bamidele; Dewdrops Cakes Bake Factory, Ezinne Okonkwo and CEO, Kolony Events&Rentals, Nike Akinyemi at the 6th edition of the annual BusyBee Event Business Summit held in Lagos recently

Ekiti Assembly Crisis: Purported Impeachment of Aribisogan Political Rascality, Say Senior Lawyers Afe Babalola, Falana, Olanipekun, Others seek immediate return of legally elected speaker Express worry over governor's silence Emmanuel Addeh in Abuja and Victor Ogunje in Ado Ekiti Prominent lawyers of Ekiti origin, including Afe Babalola (SAN), Femi Falana (SAN) and Chief Wole Olanipekun (SAN) yesterday described the purported impeachment of Gboyega Aribisogan as political rascality. In a lengthy statement , which was also jointly signed by Dele Adesina (SAN), Olu Daramola (SAN), Dayo Akinlaja (SAN) and Gboyega Oyewole (SAN), the lawyers alleged illegality in the so-called ‘election’ of Olubunmi

Adelugba as the new speaker. While Babalola is the Founder and Chancellor of Afe Babalola University, Ado-Ekiti (ABUAD) and former Pro-Chancellor and Chairman of Council of the University of Lagos, Olanipekun, is a former Attorney-General of the old Ondo State and past President of the Nigerian Bar Association (NBA) as well as a former Pro-Chancellor and Chairman of Council of the University of Ibadan. In addition, Adesina is a past General Secretary of the NBA; Falana is past President of the West African Bar Association

(WABA), Akinlaja is a former Attorney-General of Ekiti State and Oyewole, SAN, is ex-AttorneyGeneral of the state. The senior lawyers stressed that the situation in the Ekiti State House of Assembly should be of extreme grave concern to every decent and discerning mind. The group stated that the imbroglio that is presently ravaging the Ekiti State House of Assembly has effectively denied the state of the benefit of the constitutional responsibilities of the legislative house and will have dire consequences on the security and welfare

of the people. They contended that it is now plain that the elected speaker was not allowed to function in office, wondering at what point he committed any infraction of the constitution or of the House to warrant his supposed removal. “The alleged suspension and stoppage of the salaries of the speaker and six other members of the House are no less misplaced, illegal, illegitimate, null and void. “If care is not taken, and if all of us seal our lips, fold our arms and get relaxed on our seats and allow this rascality and impunity to go

Pro-chancellors Accuse Accountant, Auditor Generals' Staff of Extortion

ASUU, NANS reject proposed students’ loan scheme Don accuses lawmakers of hijacking commonwealth scholarships

Udora Orizu in Abuja Pro-chancellors of federal universities have accused staff of the Office of Accountant General of the Federation and those from Auditor General of extorting money from the institutions when they come for inspection of their account books. The Pro-chancellor of Federal University Lafia and the chairman

committee of pro-chancellors of federal universities in Nigeria, Munzalki Jibril, who made the allegation, at the national summit on tertiary education, organised by the House of Representatives in Abuja, yesterday, alleged that the officers negotiate with the institutions as if they were, “buying goats in the market and refuse offers to the tune of N2 million.”

Jibril said the autonomy of the universities was the way out of the current crisis in the university system and tertiary education generally. He joined other stakeholders in advocating absolute autonomy for tertiary institutions for optimal performance, saying it would give them the opportunity to properly go into partnership for funding of the institutions.

Edo Refutes Wike's Claim of Receiving 13% Derivation Payment from FG Says Oshiomhole received N1trn in eight, left N160bn debt Adibe Emenyonu in Benin City Contrary to the disclosure of Governor Nyesom Wike of Rivers State that the federal government has paid all outstanding 13 per cent Derivation Funds due to the oil producing states in the Niger Delta, Edo State government yesterday said it had received only N2.1 billion in three tranches of N700 million out of N28 billion due to the state. The state Commissioner for Budget and Planning, Mr. Joseph Eboigbe, who announced this at a press conference in Benin, explained that, "In respect to the 13 per cent derivation refund currently making the waves, it was the Commissioners of Finance in Nigeria under the aegis of FAAC especially those from the oil producing states spotted the

fact that there was an anomaly in respect of the federal government spending money from crude oil and gas sales and not taking out derivation so the work was done and a total of about one trillion naira was established as due to the oil producing states." According to Eboigbe, "It went through the whole process and the FEC approved it and a methodology for repayment as approved by RMFAC and they now agreed on what will be due to each state. “Edo State share of that figure was N28 billion, it is a small figure out of the on trillion but that's what got to us. What was also approved was the way and manner this money will get to the states. "The net amount will come to each state over five years; each year, you will have quarterly remittance

which means four releases each year over five years. This disbursement was to start this year but some states went to court to restrain the government so the releases now started in October which is just last month. “By the time they started the releases, Edo State got N700 million per quarter, and this is verifiable in our bank account. "What we have got is three quarterly releases so far that is what has come into the state coffers and it is verifiable, it is in the bank, office of the accountant general has the records so our share was N28 billion net, it is to be distributed five years and that will be 20 quarterly distributions three has come so far." Continues online

The professor of English said: "We got the autonomy law of 2003, which official name is Universities’ Miscellaneous Provision Amendment Act 2023, which actually gave birth to the universities governance autonomy. That's why we're now able to appoint our vice chancellors without reference to the minister or to the President. "But what remains to be given is the financial autonomy. We are now classified as parastatals of government. That's why we have the problem with IPPIS. If we were not government parastatals by classification, we wouldn't have anything to do with IPPIS. Continues online

unchecked, in no distant future, the governor of the state would be impeached and forced out of office in like manner,” they argued. According to them, the flagrant actions of the current political gladiators in Ekiti State House of Assembly and their instigator(s) show that they have no respect for the rule of law. By their actions, the lawyers and elder statesman, argued that the errant lawmakers have demonstrated a penchant for political rascality, impunity, brazenness and recklessness of no mean measure. “The purported impeachment of Hon. Gboyega Aribisogan as well as the announced suspension of seven members of the House is an exercise in utmost futility and, unquestionably, null and void. “The situation is highly condemnable. This is particularly by reason of the fact that the members of the House of Assembly said to have been suspended represent their constituencies in the legislative affairs of the State. “When regard is had to the fact that the House is made up of 26 members (now 25, with the demise of Hon. Funminiyi Afuye), the purported suspension of seven members simply implies that more than a quarter of the membership of the House and the constituencies represented by them are now rendered impotent and unfunctional,” the statement added. Describing it as absolutely unwarranted, unjustified and condemnable, the group stated that by way of argument, the sponsors of the ‘charade’ and their cohorts in the House have foisted on the entire State a coup d'etat. They noted that excising

over one-quarter of the Local Governments represented by the suspended legislators from the state, as it were, means that the governor may no longer be presiding over Ekiti State on which election that brought him to office was conducted. In light of this position, the prominent indigenes of Ekiti explained that it is nothing short of downright insensitivity, unmitigated disrespect and unalloyed affront for the unconstitutionality and illegality that have emerged from the activities of the concerned political functionaries in the State. “Significantly, it is exceedingly unfathomable and difficult to rationalise the basis for the roiling crisis in the Ekiti State House of Assembly on the strength of the fact that the entire members of the Ekiti State House of Assembly belong to one political party (APC),” the learned colleagues stated. Without any speck of doubt, the coalition affirmed that every person with a sense of justice, fairness and political decency must be scandalised by what is currently going on in the state. “As lawyers, we do not want to swallow hook, line and sinker the grapevine information and tales being peddled about for the reasons underscoring the crisis at hand, among the political gladiators in the state. “Be that as it may, we plead with our humble and respected governor to appreciate the fact that having been sworn in as the governor of the state, he automatically translates to the Chief Executive Officer of the State, and by extension, the buck stops at his table. Continues online

Soludo Awards More Road Contracts as Residents Decry Non-commencement of Work on Others David-Chyddy Eleke in Awka Anambra State governor, Prof Chukwuma Soludo has awarded more road contracts in the state. This came at a time when some residents of the state were already complaining that more than a month after the rains stopped, no work has commenced on roads that the contracts were awarded around the state capital. State commissioner for Information, Mr. Paul Nwosu in a statement explained: "Anambra State Executive Council (ANSEC) has awarded more competitively

bided contracts to construct two new roads and reconstruct three dilapidated ones in the state. "The first is the Achina-OnnehOgboji road with a total length of 7.80 kilmetres and width of 7.3 meters. The work will be done by IDC Construction Company Ltd at the cost of N4,950,000,000.00 and would be completed within 12 months from the date of mobilisation. "Selected Isuofia roads were awarded to Stefanutti Stocks Hapel Ltd at the cost of N5,310,000,000.00. The roads' length which total 9.842 kilometres with an average width

of 7.3 meters will be completed in 12 months. "The reconstruction of IfiteOgwari road with spur of IfiteOgwari was awarded to New Idea Construction Ltd at the cost of N600,790,178.28. The job will be finished within 4 months from the mobilisation date." Nwosu further said: "On the other hand, Savinovo-Umuofor-Bright Street/Nkpor-Umuhu-Ubahuezike road was split between two contractors for speedy completion of the construction work. Continues online

THURSDAY, ͺͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

POLARIS BANK VISITS UZODIMMA... Governor Hope Uzodimma of Imo State (left), receiving the Managing Director/CEO of Polaris Bank, Mr. Adekunle Sonola, who paid a working visit to the Governor's oﬃce in Government House, Owerri...yesterday

Fashola Proposes Alternative Funding Sources for Nigerian Universities Emmanuel Addeh in Abuja The Minister of Works and Housing, Mr. Babatunde Fashola (SAN), has proposed that universities should explore consultancy services, provision of research data, poll results services, among others as alternative funding sources. Fashola made the remarks as a panellist at an event organised by

Nigeria’s House of Representatives, held at a National Summit in Abuja, a statement by the Director of Press and Public Relations in the ministry, Blessing Lere-Adams, noted. The tertiary education summit themed: “Re-imagining Tertiary Education in Nigeria: Issues, Challenges and Solutions” was held with a view to providing solutions to challenges facing the sector.

Stressing that employees of government-owned institutions who want to be autonomous remain a big issue, Fashola argued that tertiary education is still on the concurrent list , meaning that states and federal governments can fund education in the country . Also the statement quoted the Director General , Budget Office of the Federation, Mr. Ben Akabueze

Bayelsa Utilising Derivation Funds Prudently, Says Diri Bayelsa State Governor, Senator Douye Diri, yesterday said the 13 per cent oil derivation funds accruing to the state were being prudently spent, mostly on infrastructure development. Diri stated this when he received the Interim Administrator, Presidential Amnesty Programme (PAP), Maj. Gen. Barry Ndiomu (rtd), in Government House, Yenagoa. Recall that Governor Nyesom Wike of Rivers State had during the inauguration of the Port Harcourt Campus of the Nigerian Law School last Friday revealed that President Muhammadu Buhari approved and paid the arrears of 13 per cent derivation to Rivers, Bayelsa, Delta, Edo and Akwa Ibom states. The governor said President Buhari’s gesture was the major source of revenue for his projects, including the flyovers, the law school and the cancer centre. He said: “Monies that were not

paid to the Niger Delta states since 1999 mainly 13 per cent deductions, the President approved and paid all of us in Niger Delta states.” But a statement by his Chief Press Secretary, Mr. Daniel Alabrah, quoted Governor Diri as insisting that the administration had nothing to hide and that the state’s monthly allocations from the Federation Account had always been made public through its monthly transparency briefings. He, however, explained that what the state received as 13 per cent derivation refund from the time of the previous administration was being paid in installments after it had been discounted. Diri equally stated that the amount did not make much impact in terms of development. He maintained that the income and expenditure of the state were accounted for on a monthly basis through the transparency briefings. He further stated that the cost of

construction in a difficult terrain like Bayelsa was three or more times than elsewhere, adding that the cost of constructing a road project in the state was more than three or four flyovers in some other states even in the Niger Delta.

as saying that: ‘'There has to be sustainable funding for tertiary education”, noting that, “We cant continue with the current system because it is not working and it is not sustainable." Prof. Uduak Ekpo of the Department of Education Administration and Planning ,University of Calabar, remarked that government should increase funding for tertiary education. "Budget and allocation for tertiary education should go up instead of going down. Nigeria's education budget remains among the poorest in Africa. “If lecturers run away from their core mandate of academic excellence through research and teaching and go into business, university education will suffer,” Ekpo said.

Director, Centre for Gender and Women Studies University of Jos , Prof. Irene Agunloye in her remarks said that there was the need to build capacity in the education sector. “Education is a commodity and if you do not build the capacity of people in the academics, there will not be any headway,“ she stated, advising that some institutions should be made research universities in order to generate more funding . Chairman / Chief Executive Officer Channels Media Group, Dr. John Momoh was also quoted to have said that both government and lecturers need to come to an agreement as soon as practicable. "There is need for the Academic Staff Union of Universities (ASUU) and the federal government to come to agreement till both sides are happy with the negotiation.

“ Also, universities should look for a way of generating fund from alumni and to also look for a way of outsourcing of assets of universities in order to improve funding,” he stated. The ASUU team led by its current President, Prof. Emmanuel Osodeke, kicked against undue hike in school fees in tertiary institutions, stating that the economic downturn would not allow it. “The level of poverty in Nigeria would not allow Nigerian students to pay increased tuition fees,” he maintained. Meanwhile, the Permanent Secretary in the Ministry Works and Housing, Bashir Alkali has stated that the ministry is committed to stemming corrupt practices with the inauguration of the Anti-Corruption and Transparency Unit (ACTU).

2023: APC Will Capture Kano By Hook or Crook, Says Party Chair Ibrahim Shuaibu in Kano Chairman of the Kano State chapter of the All Progressives Congress (APC), Alhaji Abdullahi Abbas, yesterday, said the party was poised to capture the state by hook or crook during next year’s gubernatorial election in the state. Abbas told a mammoth crowd at the flag-off of the party's gubernatorial campaign held in Gaya, stating that the APC being the party leading the state, nobody should

think that it could be defeated under whatever guise. His words: "People are saying I should stop saying the APC would capture Kano by hook or crook. I want to tell this gathering that the APC would capture Kano by hook or crook. We have today demonstrated our resolved of winning the election from top to bottom come the year 2023. "Gaya, as you know is the home of APC. No political party can match our strength and our

cloud. We are determined to take the bull by the horn in maintaining our dominance. Gawuna is our candidate and is going to be the next governor of Kano State. "We have made all the necessary preparations, the colorful event where our candidate would receive his flag from the president, who would be here in Kano for the purpose of giving him the flag.” He stated that APC's acceptability and reverence in Kano was never in doubt and the party was sur-

rounded by men and women of great wisdom, who were a surprise when it came winning elections at all levels, adding also that it had fulfilled its mandate in the last eight years. Speaking too, the APC gubernatorial candidate, who is also the Deputy Governor, Dr Nasiru Yusif Gawuna, said he was fully prepared for the battle ahead, knowing that he had the firm support of Governor Abdullahi Ganduje and all those calling the shots in the party

BUHARI EXCITED BY NEW BANKNOTES, SAYS ENHANCED SECURITY FEATURES‘LL MAKE COUNTERFEITING DIFFICULT He said Emefiele and former CBN governor, Sanusi Lamido Sanusi, had explained that the Arabic inscription had no political undertone, but represented Hausa as a language. Meanwhile, speaking during a virtual post-Monetary Policy Committee (MPC) media briefing alongside other directors, CBN Director, Currency Operations Department, Ahmed Bello Umar, said as at November 18, 2022, about N165 billion had so far been returned to the central bank in line with the call by the apex bank to customers to return their old N200, N500 and N1000 banknotes. He, however, pointed out, “This is still far from where we want to be.” He feared a situation where there could be a stampede towards the expiration of the January 31, 2023, deadline for the existing banknotes to be returned.

CBN also clarified that it was not in any way exposed to losses relating to the unprecedented flooding witnessed across the country. There had been concerns that farmers under the CBN-Anchor Borrower Programme (ABP) could have incurred huge losses following the floods that destroyed many farmlands, therefore, making it difficult for the apex bank to recover its investments in rice production in particular. CBN Director, Development Finance Department, Mr. Yila Yusuf, explained that the bank heeded the weather advisory by Nigerian Meteorological Agency (NiMET), which had predicted heavy rains during the year, and did not fund the wet season rice programme under the Anchor Borrower Programme (ABP). Yusuf said, “We were not exposed in any way during the wet season.

What we did was to fund others, like maize and soya beans, among others. “To counter some of the losses the farmers had, we are going to be doing a robust dry-season farming. We are going to have three crops, rice, mainly, maize, and then wheat. “Nigerian Meteorological Agency (NiMet) issued an advisory that the rains were going to be heavy this year. So, what the central bank did was not to fund the rice programme because, with heavy rains, you are going to encounter massive losses.” He warned farmers not to indulge in the hoarding of grains for arbitrage. Yila said, “We started a wheat programme, which targets to cut down our import of wheat over a period of five years. This year, we are going to be doing 250,000 hectares. Consumption of wheat is almost five million metric tons and

we spend in excess $2.5 billion to $2.6 billion, especially in the northern part of the country that can cultivate this wheat.” He added, “As we approach yuletide, we are concerned about prices of items, especially rice; and as we move into the election period, we had a meeting with them this week and we informed them that if they take advantage of arbitrage and try to raise prices they would suffer at the end. “This is because the government has made an enabling environment because if the borders are opened and rice comes in, these mills would close. There is no reason why rice should go as much as N40,000 – rice should sell at N30,000 and they are making enough margins which they all agreed.” The CBN, however, noted that though it intended to continue

with the ABP, the interventions had implications for monetary policy. On his part, Mahmud, said, “And we think that we have done enough, we expect the private sector to pick up and the fiscal authorities also pick up from that space. Largely what we were doing was targeted, which were those that would really affect food and core inflation numbers.” Mahmud, while also commenting on the apex bank’s decision to further raise the benchmark interest rate to 16.5 per cent at its recent meeting, said the central bank was aware that tightening was impacting growth, and resulting in higher cost of lending, among others. He added, however, that higher costs would make supply more attractive as well as provide incentives for more production. He admitted that the bank, perhaps, started late in responding

to the threats posed by inflation. He said, “We started a bit late. Secondly, the quantum we are doing may not be huge enough because we were being mindful of the fact that it has implications. It is something that we need to do strategically; yes, we want to close the gap but we cannot close the gap in a day. “So, we're looking at that and seeing the impact on the economy. Let's see the numbers of our GDP for the third quarter, and then we'll see whether we're not losing too much in terms of sacrifice ratio or opportunity costs. “As we are taming inflation, how are we impacting growth, employment, the balance of payment, the external sector, exchange rates, and external reserves? And so, the gap is still wide, but we need to close it over time.”

THURSDAY NOVEMBER 24, 2022 • T H I S D AY

THURSDAY NOVEMBER 24, 2022 ˾ T H I S D AY

NEWS

IMPROVED MARITIME SECTOR ON THEIR MINDS…

L-R: Director- General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh; Honourable Minister of Transportation, Mu’azu Jaji Sambo; Secretary General, International Maritime Organisation (IMO), His Excellency, Kitack Lim, and Permanent Secretary, Federal Ministry of Transportation, Dr. Magdalene Ajani, at the Nigerian Maritime Resource Development Centre in Lagos...recently

Terrorists Abduct Four in Zamfara, Demand Ransom in New Naira Notes Onuminya Innocent In Sokoto Four persons were said to have been abducted by suspected terrorists at Kolo village in Gusau Local Government Area

of Zamfara state. The terrorists were said to have rejected to collect the old Naira notes as ransom after they have agreed to take N5 million as ransom before setting the victims free. The four persons who were

abducted by the suspected terrorists at Kolo village In Gusau Local council included: one man, one woman and two children who are orphans . According to locals, the suspected terrorists had earlier demanded N10 million as ransom but after negotiation

with them, they reduced it the amount to N5 million. Residents of the troubled village also said that as they were trying to raise the said amount, through communal effort, then the terrorists sent a short message on Tuesday informing them that they would

not free the four abducted victims until after they change the old naira notes to new naira notes. The terror groups said that they would continue to keep the abducted victims in their captivity until December when the new Naira notes have been

put in circulation. Efforts to get the Police spokesperson in the state Superintendent (SP) Mohammed Shehu to confirm the incident were unsuccessful as his mobile telephone lines were not connecting as at the time of filing this report.

Kingsley Nwezeh in Abuja

Review Board (SRB), sitting in Lagos. A statement issued by the Director of Public Relations and Information of the Nigerian Air Force, Air Commodore Edward Gabkwet, said the review board meeting chaired by the air force chief, would interrogate safety issues in the NAF with the aim of appraising the progress made so far in furtherance of efforts to enhance safety practices.

Air Marshal Amao said the meeting was expected to enable members to proffer realistic and lasting solutions to NAF safety-related issues in operations, maintenance, health and environmental practices. He affirmed that beyond the discussions dwelling on safety in air operations, the year 2022 safety meeting would deliberate on health and environmental safety

measures and strategies, bearing in mind the consequences of neglecting the working and living environments as well as poor personal health management. He directed the chief of standards and evaluation to ensure that all NAF units had at least a safety-trained officer to mitigate the dangers associated with poor safety management and procedures.

Margaret Lawrence Varsity Appoints Odili as Pioneer VC NAF Board Reviews Challenges in Air Operations Professor Augustine Nonso Odili has been appointed as the pioneer vice chancellor (VC) of the newly licensed Margaret Lawrence University, Galilee, Ika North-east Local Government Area, Delta State. According to a statement from the orgnisation, Odili is a Professor of Cardiovascular Medicine in the department of Internal Medicine, Faculty of Clinical Sciences, College of Health Sciences, University of Abuja. He is also a Consultant Cardiologist at the University

Odili

of Abuja Teaching Hospital, Gwagwalada, Abuja and serves as the lead investigator at the Circulatory Health Research Laboratory of the same university. In addition to his research and academic roles in the university, he serves as the Acting Dean, Faculty of Clinical Sciences as well as a member of the University Research Council,c the apex research governing body of the University. He is a visiting Professor to the Department of Medicine, University of Calabar and a visiting external examiner to about six other Nigerian Universities. He is a visiting Bernard Lown Scholar in Cardiovascular Health at Harvard T. H. Chan School of Public Health, Boston United States of America (USA). The statement added that prior to his academic career, Odili’s educational training was decorated with excellence at each level.

The Nigeria Air Force (NAF) yesterday began a review of prevalent and evolving safety challenges in its operations to enable it to adopt safety procedures and uphold high safety standards. The Chief of the Air Staff (CAS), Air Marshal Oladayo Amao, made the disclosure at the ongoing yearly NAF Safety

Police Rescue 17 kidnapped Victims, Three still Missing in Edo Adibe Emenyonu in Benin City The Edo State Police Command operatives said they rescued 17 kidnapped victims who were abducted along Benin/Lagos Expressway on Sunday. They, however, said three of the victims were still in the kidnappers’ den, adding that efforts were ongoing to rescue them and arrest the hoodlums. In a statement in Benin City,

the police said: “Edo Police Command, in its efforts to nip in the bud kidnapping and other related violent crimes in the state, on Sunday, 20/11/2022, at about 18:35hrs rescued 17 kidnapped victims (male and female) along Benin-Lagos Expressway between Ugbogwi and Ohosu communities in Edo State. Meanwhile during the process of head count, it was revealed that three other persons were missing.

“The rescued victims were passengers of a mass transit bus who were travelling from Delta to Lagos State but were attacked and kidnapped by six herdsmen who emerged from the bush with AK 47 riffles and pump-action guns shooting sporadically at vehicles and finally abducted 20 persons into the bush. “Immediately, the operatives of Safer High Way Edo South alongside other team of police

officers covering the long stretch of the express way, moved to the direction of the gun shot, engaged the kidnappers and rescued 17 persons while three others were taken away into the bush. “Meanwhile, a serious manhunt operation through bush combing strategies is currently on going for possible rescue of the victims unhurt and for the arrest of the kidnappers,” the statement noted.

Pantami Secures N16.7b Prince Feared Killed as Hoodlums Raze Monarch’s Palace in Osun shooting of five people. entrance into the premises have the they were on their way. They were Broadband Access for 20 Markets YinkaKolawoleinOsogbo Consequently, aggrieved charm used to barricaded the gate. forced to abandon their vehicle The Minister of Communications and Digital Economy, Isa Ali Ibrahim Pantami has secured N16.7 billion from the Federal Executive Council (FEC) to provide broadband access for 20 markets and 18 schools in the six geopolitical zones of the country. He said another N1.96 billion has been granted by the Federal Executive Council to purchase 6,000 e-pad mobile devices for students in tertiary institutions under the Nigeria National Broadband Plan (NNBP)2020- 2025. These were disclosed in a statement by the Head of Corporate Affairs and External Relations of the National Information Technology Development Agency (NITDA), Mrs. Hadiza Umar. According to the statement, Patami will also unveil a new

book today on skills and the launch of the programme to aid in implementing the National Digital Economy Policy and Strategy (NDEPS). The broadband access and NDEPS are to be executed by the Nigerian Communications Commission (NCC) and supervised by Pantami. The statement said the book will signal the commencement of landmark broadband initiatives to accelerate broadband penetration in Nigeria and advance the course of digital economy for the nation. The statement said: “Following the minister’s presentation of the programme at the FEC on the 26th October 2022, an approval was given for N16.7 billion to be used to provide broadband access for 20 markets and 18 schools across the six geopolitical zones of the country.

There was pandemonium in Ikirun community , the headquarters of Ifelodun Local Government Area of Osun State yesterday a prince, Lukman Gboleru was reportedly shot when security operatives were attempting to forcefully open the palace. There have been several protests following the appointment of Oba Yinusa Akadiri as the new monarch of the community which led to

members of other ruling houses mobilised, shut the palace and condone off the gate with charms to prevent the new king from accessing the palace. However, yesterday morning, security operatives including Police stormed the palace to force their ways into the premises which was resisted by the youths. A resident who pleaded not to be named said the police gained

It was gathered that some hoodlums mobilised behind the palace of Akinru and scaled it to wreak havoc on the palace by setting part of the palace ablaze after a prince who was resisting the forceful entering of security men into the palace was shot dead. Another source disclosed that three firefighters that were mobilised to extinguish the fire at the palace were injured while

half way. Speaking with one of the brothers of victim killed, Prince Tajudeen Gboleru speaking with THISDAY said: “My brother was killed this morning during a fight in front of the palace this morning. He led some youths to the palace when he heard that they want to enter the palace, there was a brawl and one of the policemen shot him dead.”

Enugu Condemns Attack on Farmers, Seeks Improved Security

Gideon Arinze in Enugu

The Enugu State government has condemned the attack by suspected herdsmen which left some farmers dead and others injured at Aguamaede and Mgbuji communities in Eha Amufu, IsiUzo Local Government Area of the state. The suspected killer herdsman had on Monday invaded the

communities, killing at least 10 people and inflicting Injuries on others. They were also said to have razed houses during the attack. Reacting to the attack in a statement by the Secretary to the State Government, Prof. Simon Uchenna Ortuanya, the state government called on heads of security agencies to rise to the challenge by deploying more personnel to the affected

communities to provide adequate security for life and property. According to the statement, the government will as a matter of urgency, meet with their leaders to put an end to the lingering crisis between farmers and herders in Eha Amufu which might have led to the recent attack. The state government also condoled with the families of the deceased and sympathized with

the victims who suffered varying degrees of injuries following the attack. The statement further disclosed that Governor Ifeanyi Ugwuanyi has released the sum of N10 million to support those who are now living at the Internally Displaced Persons (IDPs) camp while also committing to pay all the medical bills of those receiving treatments in the hospital.

“Th has al state g delega the vi

THURSDAY NOVEMBER 24, 2022 ˾ T H I S D AY

NEWSXTRA

NEW MEDIA PERSONALITY AWARD WINNER…

L-R: Founder, Culturati, Idris Aregbe; Convener, Bodex Social Media Hangout, Bodex F Hungbo; Chief Executive Oﬃcer, Sierra Global Concepts Limited, Mrs. Caroline Adeneye, and Managing Director, Glitz Group, Senator Adetola Akintola, when Bodex Hungbo was given the New Media Personality of the Year award at the PERA Awards in Lagos…recently

Father, Friend Get Life Imprisonment for Defiling, Impregnating 14-year-old Daughter Wale Igbintade

the survivor at age 14. Justice Soladoye handed down the judgment to the duo having found them guilty of sexual offences. The judge held that the prosecution had convincingly proved the charge of defilement against the convicts. She condemned the barbaric act of the first defendant for having sex with his underage daughter several times before passing her to

his friend for a pseudo marriage over a bottle of gin. The judge held that “the survivor, testified that her father had sexual intercourse with her on several occasions, and that her father gave her hand in marriage to the second convict after he visited their house and gifted

Forgery: Prima Facie Case Established against Ozigbu, Police Tell Court

The presidential candidate of Labour Party (LP), Mr. Peter Obi, yesterday, said he would build a new Nigeria that its citizens would be proud of if voted into power as president in 2023. This is just as he said his government would secure and

Justice Abiola Soladoye of the Ikeja Domestic Violence and Sexual Offences Court, yesterday sentenced a pedophile, Mr. Adewale Ibitoye, to life imprisonment for having sexual intercourse with his 14-year-old daughter. Jailed alongside him, is his friend, Mr. Moses Orukpe, who defiled and impregnated

Alex Enumah in Abuja A prosecution witness in the alleged forgery and fraud trial of one Paul Ozigbu, Mr Joseph Onaje, has said a prima facie case was established against Ozigbu in the interim report submitted to the office of the Attorney General of the Federation. Ozigbu is being prosecuted by the police over allegations of forgery, criminal conspiracy and illegal conversion of family property into personal use among others. According to the charge, he was alleged to have forged landed property documents of their late father, Nze Ike Hilary Ozigbu, in order to take over the family

property and company. The police had re-arraigned him before Justice Donatus Okorowo on July 7, 2021. At the resumed trial yesterday, Onaje, who is an Investigation Officer with the Nigeria Police, told the court that the interim report of the police investigation team was submitted to the legal department of Federal Ministry of Justice /Attorney General of Federation, who reviewed it and found that there “is a prima facie case against the defendant.” The witness, who claimed that the submitted report was prepared after a thorough investigation, was speaking under cross examination by defendant’s counsel, Mr. C.A Menkiti.

Group, Ministry Collaborate on Peace-building Strategy in N’Delta Sunday Okobi The Partnership Initiatives in the Niger Delta (PIND) is providing technical support to the Ministry of Niger Delta Affairs in designing and developing a regional peacebuilding infrastructure to address conflict and security issues in the Niger Delta through the Niger Delta Regional Peace-building Strategy (NDRPS)w PIND’s Peace-building Manager, David Udofia, stated in a statement that the NDPRS document would provide a framework for adopting multi-stakeholder approaches to peacebuilding and conflict resolution. He said a Technical Working Group (TWG) comprising partners vested in promoting peace in the region and stakeholders drawn from the nine Niger Delta states would be inaugurated

on November 30, 2022, in Port Harcourt, Rivers State, to drive the document’s design. According to him, “There will also be a technical session on December 1, where the TWG members will be briefed on how they will support PIND and MNDA on the NDRPS. NDRSP will drive conflict prevention, mitigation, and resolution efforts.” As a holistic approach, PIND said the NDRPS would focus on the drivers of conflict and identify proactive measures geared at conflict prevention, reduction, and mitigation. PIND added that the designing and subsequent implementation of the NDRPS is a timely process that would complement current conflict mitigation approaches by the government and other stakeholders in the Niger Delta.

her father, a bottle of gin. “She said that the second defendant had sexual intercourse with her, which led to pregnancy and the first defendant in his testimony confirmed that he collected a bottle of gin from his friend as wedding rights. “The testimony of the survivor

was vivid and unshaken during cross-examination as the first prosecution witness, a pastor, testified before the court that the survivor lost the two months old baby due to lack of care and malnutrition. The testimony of the third prosecution witness, an

Investigative Police Officer (IPO) also confirmed to the court that the survivor was 14 years, when she started living with the second defendant as his wife and that he registered her in a local hospital in Ijebu Ode while she was pregnant with the baby.”

Peter Obi Assures Electorate of a New Nigeria at Ibadan Rally Kemi Olaitan inIbadan

unite Nigeria as well move the nation move from consumption to productive economy. Obi, who spoke in Ibadan, at a rally held at Lekan Salami Stadium, Adamasigba, lauded the acting Leader of pan-Yoruba sociopolitical organisation, Afenifere, Pa Ayo Adebanjo, for his support, stating that he stands for equity,

fairness and justice which are the foundation a united Nigeria can be built. He maintained that the new Nigeria he would build would be devoid of tribalism or religion, adding that he would also create an enabling environment for the youths to thrive. According to him, “We will make sure there is no strike in

universities, we will take education as priority because we want to educate our people, we shall turn the vast land around to feed this country, youths of Nigeria will have job, we shall fight corruption together because it is killing the future of Nigerian youths, people are stealing money meant for the development of Nigeria.

Kogi Flood: Expert Calls for Increased Funding for Ecological Devt Sunday Ehigiator In a bid to forestall another devastating reoccurrence of flooding in Kogi State, a sustainability advocate, Mr. Chukwuemeka Idam, has called on the federal government to increase funding for ecological development in the country while

also constructing more dams in the affected state. Idam made this call yesterday through a press statement titled ‘Flooding in ‘Kogi -What Could We Have Done Better?’” According to him, flooding is a humanitarian crisis in Kogi, and the rest of Nigeria is responsible for the displacement of thousands

as well as threatening public health and food security. He identified the opening of the Lagdo Dam in the Republic of Cameroon to prevent an overflow, the water level in Nigerian reservoirs like the Kainji, Jebba, and Shiroro, on the Niger River and the poor estate planning and settlement of population along

waterways as the partial cause of flood in the state. “While we mourn the loss of lives and properties, as we should, we must take the necessary steps to avoid a repeat. We might have missed important opportunities to correct missteps in the past but there is another opportunity to act.

Invest in Agriculture to Reduce Poverty, Niger NACCIMA DG Advises Laleye Dipo in Minna

The Director-General of Niger State Chapter of the Nigerian Association of Chamber of Commerce Industries Mines and Agriculture (NACCIMA) Mr. Salihu Adamu, has identified massive investment

in agriculture by the government and positive involvements of Nigerians in agriculture and farming as the shortest road to reduce poverty, which the National Bureau of Statistics (NBS), recently put at 130 million people. Adamu, who spoke in Minna

yesterday against the backdrop of the disclosure by the NBS, said that government should directly clear hundreds of hectares of land and allocate same to Nigerians for farming in addition to giving them free farm inputs for planting. He said that schools across

the country should compulsorily have farms to be managed by pupils and students. He said that apart from these farms producing enough for consumption, surpluses to be recorded would be available for export thereby generating income and reducing poverty.

Senator Kalu Scolded over Failure to Speak against Insecurity in Abia North EmmanuelUgwu-Nwogoin Umuahia

Former Speaker of the ECOWAS Parliament, Senator Mao Ohuabunwa, has upbraided the Chief Whip of the Senate, Orji Uzor Kalu, over his alleged indifference to the security situation in Abia North,

the zone he (Kalu) represents in the Senate. Ohuabunwa berated the former Abia State governor yesterday during a media interaction with the state Correspondents Chapel of the Nigeria Union of Journalists (NUJ), saying it smacked of docility and poor representation for Kalu

to remain silent when his area is groaning under insecurity. The five local government areas that make up Abia North senatorial district have been on the throes of insecurity, which has affected especially Umunneochi, Isuikwuato and Arochukwu where the activities of armed herdsmen and suspected

gunmen have become rampant. But Ohuabunwa, who is staging a return to the Senate as the candidate of the Peoples Democratic Party (PDP) for Abia North, regretted that Kalu could not even raise a motion in the Senate to draw the attention to the sufferings of the people he represents.

Appeal Court Nullifies Zamfara PDP Guber Primary The court, which was presided with. People Democratic Party (PDP) Onuminya Innocent inSokoto The Court of Appeal sitting in Sokoto has nullified the candidature of the Governorship Candidate of Peoples’ Democratic Party (PDP) in Zamfara State, Dr. Dauda Lawal, and dismissed his appeal.

over by Justice Muhammad Shuaibu, in an unanimous judgment said that the appeal is abuse of judicial process and lacked merit. Shuaibu further explained that the appellant has no right to appeal the judgment he has already complied

He noted that the appeal is an academic exercise and, therefore, awarded N100,000 against the appellant to be paid to the respondents. It has been recalled that Mr. Ibrahim Shehu, the gubernatorial candidate of

in Zamfara State, has challenged the emergence of Lawal as PDP’s candidate in Zamfara State, saying that the election that returned him was marred with irregularities and noncompliance with Electoral Act and PDP’s guidelines.

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Ghana Captain, Andre Ayew, has promised to make today’s Group H opening clash with Portugal a difficult match for Cristiano Ronaldo and his teammates. “We go into this game with Portugal as favourites on paper. But we have to show that it is more important what happens on the pitch. “We are playing a big side with top players, but we believe in ourselves and will make it very difficult for them," observed Ayew at Wednesday’s pre-match conference ahead of the clash. He however admits that playing the first match of any tournament has never been an easy affair. "When you are playing the first game of a tournament it is never the

DURO IKHAZUAGBE Reporting live

decisive one. Whatever happens, you still have a chance to go through. "The first game is one where you can go for it and be brave. It