MONDAY 27TH NOVEMBER 2023 by THISDAY Newspapers Ltd

Zenith Bank Heralds Christmas, Yuletide Seasons with Ajose Adeogun Street Light-up Nume Ekeghe In a splendid display, Zenith Bank Plc heralded the Christmas and yuletide

seasons with the light-up of Ajose Adeogun Street and Roundabout, Victoria Island, Lagos, on Saturday, 25 November 2023.

The light-up ceremony was performed by the Group Managing Director/CEO of Zenith Bank Plc, Dr. Ebenezer Onyeagwu.

The light up ceremony, the 17th of its kind, is a corporate social responsibility (CSR) initiative by Zenith Bank. A statement yesterday,

explained that the Christmas decoration was a CSR initiative of the bank to herald the yuletide season through the beautification and

transformation of the entire stretch of Ajose Adeogun Street (home to Zenith Bank’s Continued on page 5

FG Meets Producers Over Rising Gas Prices as Rates Surge by 14% in October...

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Monday 27 November, 2023 Vol 28. No 10456. Price: N250

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Sierra Leone Imposes Nationwide Curfew After Failed Coup Attempt Michael Olugbode and Emmanuel Addeh in Abuja

L-R: Deputy Senate President, Senator Jubril Barau; Cross River State Governor, Bassey Otu; Senate President, Senator Godswill Akpabio, his wife, Ekaete Akpabio, and Senator Asuquo Ekpeyong Jr at a Thanksgiving function...recently

There was a failed coup attempt Continued on page 5

Oba of Benin to Nigerians: Tinubu’s Presidency Ordained By God

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Hails Sanwo-Olu's giant strides in Lagos Governor takes royal father on tour of state museum

ZENITH LIGHTS UP AJOSE ADEOGUN STREET FOR CHRISTMAS… The Group Managing Director/CEO of Zenith Bank Plc, Dr. Ebenezer Onyeagwu (4th Left) ﬂanked by the wife of the Founder and Chairman of Zenith Bank Plc, Mrs. Kay Ovia (3rd Left); Executive Director, Mr. Henry Oroh (1st Left); Executive Director, Dr. Temitope Fasoranti (2nd Left); Executive Director, Mrs Adobi Nwapa (2nd Right); and Executive Director, Mr. Akin Ogunranti (1st Right) at the 2023 Zenith Bank Christmas Light-Up of Ajose Adeogun Street, Victoria Island, Lagos at the weekend.

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Senate Probes N130.8bn CBN’s Gas Intervention Funds Disbursement Summons Delta State government, 14 firms Sunday Aborisade in Abuja The Senate Committee on Gas, would this week begin an investigative hearing on the N130.8 billion Nigeria Gas Expansion Programme (NGEP) intervention fund disbursement. To this end, the red chamber had summoned the Government of Delta State and 14 other engineering, oil and gas companies for the investigative hearing. The Chairman of the Senate

Panel who is the Senator representing Cross River North, Jarigbe Agom Jarigbe, had in a paid advertisement in THISDAY last Thursday, mandated the affected companies to appear on Thursday this week by 2pm. The affected companies benetted from the Intervention Fund which was disbursed by the Central Bank of Nigeria (CBN). Jarigbe, asked the firms to appear with their progress reports which must indicate

the location of projects and their current status. Jarigbe, listed the affected companies and the amount of cash disbursement to include: Nipco Gas LtdN25,000,000,000.00; Nipco Plc- N5,000,000,000.00; Hyde Energy Ltd- N2,000,000,000.00; Lee Engineering And Constructionand Company- N15,000,000,000 00 Others are, Pinnacle Oil And Gas Fze– N10,000,000,000.00; Transit Gas Limited– N8,000,000,000.00; Amalgamated Oil Company

Nig Ltd (AMOCON)– N5,000,000,000.00; Gas Nexus Ltd– N10,000,000,000.00 and First Modular Gas Systems Limited – N4,300,000,000.00 They also included, Novagas Limited– N1,000,000,000.00; Greenville Liquified Natural Gas Company-N10,000,000,000.00; AP LPG Limited – N8,000,000,000.00 and Dangote Oil Refinery– N5,000,000,000.00 The Delta State Government, according to Jarigbe, got N20,000,000,000.00 while Mob Integrated Services Limited,

received N2,500,000,000.00 The CBN had in January this year, provided insight into how much it spent over the years on various intervention The apex bank had in media reports claimed that it's interventions which cut across different sectors of the economy have gulped over N4 trillion. It had explained that the beneficiaries of the interventions are expected to repay the money as it is a loan, not a grant. Cardoso

OBA OF BENIN TO NIGERIANS: TINUBU’S PRESIDENCY ORDAINED BY GOD As though advancing a closing argument on the 2023 general election, the Oba of Benin, Omo N’ Oba N’ Edo, Uku Akpolokpolo, Ewuare II, yesterday, in Lagos, declared that it must have pleased God to ordain Senator Bola Ahmed Tinubu as Nigeria’s president, if his difficult path to victory was anything to go by, including the many court cases

that greeted his emergence. The foremost custodian of the Benin tradition and culture, who further called on the Nigerian people to support the Tinubu administration as well as live in peace, also hailed the Lagos State Governor, Mr. Babajide Sanwo-Olu, for his giant strides in the state. This was as Sanwo-Olu, in company with his Deputy, Dr.

Obafemi Hamzat and other cabinet members, took the revered monarch on a tour of the Lagos Museum – the J. Randle Centre for Yoruba Culture and History, Onikan. Speaking at the Lagos House, Marina, the Oba of Benin noted that Tinubu’s victory at the 2023 presidential poll and his eventual emergence as President showed that

God ordained him to rule the country, hence the need for all Nigerians to support him to achieve the greater dream for Nigeria. Harping on the need for peaceful coexistence in the country to achieve sustainable development in all areas of the nation's economy, he said diversity was good for Nigeria and urged the people to iron

out their differences and live as a family in peace, unity and harmony with one another. "God has ordained that Tinubu would become President of Nigeria. We are all one. I am for peace and tranquility. We must live together as one. Nigeria is big. We must iron out our differences and learn to live together as one, big family,"

ZENITH BANK HERALDS CHRISTMAS, YULETIDE SEASONS WITH AJOSE ADEOGUN STREET LIGHT-UP Corporate Headquarters) and roundabout into a resplendent spectacle - which it stressed had come to be recognised as an iconic tourist attraction, attracting people from all walks of life who visit with their families and friends to take pictures and make videos of the beautiful spectacle, especially at night and enjoy the ambience of the street and season. Speaking during the ceremony, Onyeagwu expressed his delight in heralding the 2023 yuletide season by lighting up the iconic Ajose Adeogun Street and Roundabout. He urged everyone to imbibe the message and spirit of Christmas, which is about peace, love, forgiveness and respect for humanity and prayed for peace in every home, business and country. In his words, “Today, as we turn on the Christmas light with the wife of our Founder and Chairman, Mrs. Kay Ovia, in our midst, we hope with

this, we activate the spirit of Christmas in the minds of everyone. “We pray that the ambience of the light brings warmth, love, joy, fulfillment, and hope to every one of us. We pray that our country will experience peace. We pray that our joy will be full in this season of joy. So, in the spirit of the yuletide season, Zenith Bank is also demonstrating that we want to use this to continue communicating and connecting with the community.” He lauded the efforts of Quantum Markets, who have been responsible for the annual decorations, for their outstandingly creative and beautiful work. According to him, “It is an amazing evening! First and foremost, we need to thank Quantum Markets for the incredible work they are doing. You know, every year, the theme, the style and the ambience look completely different, and today, in a

few minutes, we are going to be turning on the light, and you are going to see that it is nothing compared to what you have seen anywhere in the world. I have had the privilege of seeing Christmas light in so many cities across the world, and I say without any sense of contradiction that none compares with what we have in Lagos, Nigeria.” According to the statement, the bank’s sustainability and CSR initiatives were hinged on the belief that today’s business performance is not all about the financial numbers – the bank believes that an institution’s social investments, contributions to inclusive economic growth and development as well as improvements in the condition of the physical environment, all constitute a balanced scorecard. “Through its CSR initiatives, Zenith Bank has embodied the overarching objective of the 17 Sustainable Development

Goals (SDGs), which provide a framework for addressing the major challenges confronting society. “Its social investments are targeted at health, education, women and youth empowerment, sports development and public infrastructure enhancement. “Overall, Zenith Bank’s total CSR investment in 2022 was NGN1.67 billion, representing 0.75% of its Profit After Tax (PAT). “The bank remains committed to furthering the economic, cultural and social development of host communities, particularly through community-based initiatives and philanthropy. “As a good corporate citizen, it continues to deliver projects that have long-term social and economic benefits for the communities because it believes that its business is only as strong as its host communities. “To demonstrate its commitment to creating and

expanding opportunities, the bank regularly makes donations towards setting up ultramodern ICT centres in several educational institutions and cities across the country. It also supports various developmental projects and healthcare delivery causes in Nigeria and contributes to the development of sports in Nigeria through its sponsorship of the Zenith Women Basketball League, Zenith Bank Delta State Principals’ Cup, and Zenith Bank Delta State Headmasters’ Cup, amongst others,” it added. In recognition of its contributions and social investments to its host communities and the society at large, the bank was recognised as the “Most Sustainable Bank, Nigeria” in the International Banker 2023 Banking Awards and “Most Responsible Organization in Africa” at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021.

he said. The Oba of Benin, who congratulated Sanwo-Olu on his reelection and commended his giant strides, however, charged him not to rest on his oars but do more to achieve greater heights in his second term in office. Sanwo-Olu, while speaking, assured the monarch that the state would continue to be home to everyone irrespective of ethnic, religious or political affiliations. Eulogising the Oba of Benin for distinguishing himself among the traditional rulers, he said his protection of culture and promotion of traditional values, have earned him maximum respect across the country. While conveying Tinubu’s greetings to the monarch, he urged the traditional ruler to continue his support for the present federal government to ensure citizens benefit from the dividends of democracy, which he noted were becoming evident in the third quarter of the year with a rise in the country’s GDP. "On behalf of Mr. President, we want to thank you for your fatherly role, for your prayers and best wishes to the government and I am sure he will not disappoint you. "He will do everything possible to ensure that he delivers the real dividends of democracy that will help our country to reduce the poverty in the land, give us a new set of hope and redefine social economic development."

SIERRA LEONE IMPOSES NATIONWIDE CURFEW AFTER FAILED COUP ATTEMPT in the early hours of yesterday in Sierra Leone, prompting the West African country to impose a countrywide curfew. The Economic Community of West African States (ECOWAS) reacted to the development, and demanded arrest of the perpetrators. The Sierra Leonean government, while announcing the imposition of curfew, said the decision was necessitated by an attack on a military armoury in Freetown. The government said those that attempted to break into the armoury were repelled and calm had been restored. Witnesses told AFP they heard gunshots and explosions in the city’s Wilberforce district. But the information ministry assured the public that “the government and our state security forces are in control. “To enable the security forces to continue the process of apprehending the suspects, a nationwide curfew is declared with immediate effect across the country”. No further details were given on the alleged perpetrators of the attack or their motives. In a terse statement, Sierra Leone’s Minister of Information, Chernor Bah,

said the government was in control of the situation. Bah said the curfew was declared to allow the security forces conduct a mop-up of those responsible for the act. The minister stated, “In the early hours of Sunday, November 26, 2023, some unidentified individuals attempted to break into the military armoury at Wilberforce barracks. They have all been rebuffed. The public is assured that the government and our state security forces are in control. “To enable the security forces to continue the process of apprehending the suspects, a nationwide curfew is declared with immediate effect across the country. We strongly advise citizens to stay indoors.” The government urged citizens to follow the official ministry of information and civic education channels and official handles for accurate information and updates on the situation. But a senior official, who requested anonymity, told Reuters, a news agency, that the central prison in Freetown was open and some inmates had escaped. The prison, designed to hold 324 inmates, held over 2,000

in 2019, according to a US State Department report. It was not clear how many had broken out of the facility, but videos shared on social media showed several people fleeing from the area of the prison, while gunshots could be heard in the background. The political situation in the West African nation had remained tense since the reelection of President Julius Bio in a disputed election in June, the result of which was rejected by the main opposition candidate. Anti-government protests that resulted in the death of six police officers and at least 21 civilians last August were an attempt to overthrow the government, Bio said at the time. In a message on the president's X account, yesterday, the president said there had been a breach of security, as some unidentified individuals attacked the military armoury. "As the combined team of our security forces continue to root out the remnants of the fleeing renegades, a nationwide curfew has been declared and citizens are encouraged to stay indoors," the post said. Bio added that the

government would “continue to protect the peace and security of Sierra Leone against the forces that wish to truncate our much-cherished stability”. He said the government was “resolute in our determination to protect democracy in Sierra Leone”. ECOWAS, while condemning the attempted military takeover, said in a statement, “ECOWAS condemns this act and calls for the arrest and prosecution of all participants in this illegal act.” The regional body reiterated its zero-tolerance for unconstitutional change of government, underscoring its commitment to supporting the government and people of Sierra Leone to deepen democracy and good governance, consolidate peace and security as well and foster socio-economic development. In a post on X, the US embassy in Freetown condemned in the strongest terms possible the attempted overnight forceful seizure of Wilberforce barracks and armoury. The embassy said, “Such actions have no justification. We urge full cooperation with the government security forces in the ongoing operation to detain those responsible

and strongly encourage all to adhere to government guidance regarding the ongoing curfew for their own safety. “The United States continues to stand with all those working for a peaceful, democratic, healthy, and prosperous Sierra Leone.” There have been eight military coups in West and Central Africa since 2020, delivering repeated blows to democracy in the region. ECOWAS said in its statement, “The Economic Community of West African States (ECOWAS) has learnt with utter disgust a plot by certain individuals to acquire arms and disturb the peace and constitutional order in Sierra Leone. “ECOWAS condemns this act and calls for the arrest and prosecution of all participants in this illegal act. ECOWAS reiterates its zero-tolerance for unconstitutional change of Government. “ECOWAS further underscores its commitment to supporting the government and people of Sierra Leone to deepen democracy and good governance, consolidate peace and security as well as foster socio-economic development.” But sporadic gunfire could still

be heard in the empty streets of Freetown near the barracks on Sunday, said a Reuters reporter, who encountered a group of the renegade soldiers. "We'll clean this society. We know what we are up to. We are not after any ordinary civilians who should go about their normal business," said one of the masked men in military fatigues before driving away. Bio, who was first elected in 2018, was re-elected in June with 56.17 per cent of the vote – just over the 55 per cent needed to avoid a runoff. International observers condemned inconsistencies and a lack of transparency in the count, as well as acts of violence and intimidation. The main opposition All Peoples Congress (APC) party disputed the results of the presidential, legislative and local elections on June 24 and boycotted all levels of government. APC and the government signed an agreement in October following talks mediated by the Commonwealth, African Union, and ECOWAS. APC agreed to end its boycott and to begin participating in government in exchange for an end to detentions and court cases it said were politically motivated.

T H I S D AY • MONDAY, NOVEMBER 27, 2023

NEWS

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

FASHOLA, KOMOLAFE, EDOSOMWAN, OTHERS HONOURED WITH DOCTORAL DEGREES… L- R : Vice Chancellor, Lagos State University (LASU), Prof. Ibiyemi Olatunji - Bello , a honoree, Pharm. Paul Enebeli, honoree and Commission Chief Executive, Nigeria Upstream Regulatory Commission (NUPRC), Engr. Gbenga Komolafe ,Vice Chancellor, University of Benin, Prof. Lilian Imuetinyan Salami , Chancellor, University of Benin, Prof. James Ortese Iorzua Ayatse, a honoree and immediate past Hon.Minister of Works and Housing, Mr Babatunde Fashola,SAN and another honoree - Dr Charles Uwensuyi-Edosomwan SAN shortly before the Conferment of the Honorary Degree of Doctor of Law (LLD) Honoris Causa on the former Hon. Minister and others as part of the University of Benin 48th Convocation Ceremonies at the Akin Deko Auditorium of the University, Ugbowo Campus, Benin City, Edo State on Saturday

FG Meets Producers Over Rising Gas Prices as Rates Surge by 14% in October LPG sells highest in Kano, Adamawa, Ogun Minister wants IOCs to fulfil domestic obligation Emmanuel Addeh in Abuja The federal government has intervened over the increasing price of Liquefied Petroleum Gas (LPG), with the Minister of Petroleum (Gas), Ekperikpe Ekpo, urging International Oil Companies (IOCs) and other producers to fulfil their domestic obligations before export. At a meeting in Abuja, Ekpo told the producers that Nigeria has to find a way to

surmount the challenges in the country's domestic market, expressing President Bola Tinubu’s concerns over how unaffordable the product was becoming. The intervention is coming as the National Bureau of Statistics (NBS) in its latest report, said that in October LPG prices rose by as much as 14 per cent in October for a 12.5 kg tube. But a statement by the minister’s media aide,

NCC Urges Nokia to Boost Investment in Research and Development Emma Okonji The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has called on Nokia Networks to increase its investments in Research and Development (R&D) to support the growth of Information and Communications Technology (ICT) in Nigeria. Maida made the call when a delegation from Nokia Networks of Finland led by the Deputy Minister, Under-Secretary of State for International Trade from the Ministry for Foreign Affairs of Finland, Jarno Syrjala, visited the commission recently to explore further opportunities for mutually-beneficial relationships. He told the delegation that the Nigerian government remained keen in harnessing Nokia’s capabilities through technology transfer to support Nigerian youths in technical skills. The Nigerian government is targeting training of three million youths in ICT skills to advance the country’s digital economy. “We are keen on

getting the youths employed, as our Ministry is targeting three million youths for skills acquisition,” Maida said. He informed the Nokia contingent that the commission places primacy in R&D as the bedrock of any knowledge economy, and for advancement of innovation. He therefore, urged Nokia and other Original Equipment Manufacturers (OEMs), to explore R&D opportunities to deepen local content development in Nigeria. While congratulating Maida on his appointment by President Bola Tinubu as Nigeria’s chief telecom regulator, Syrjala said the purpose of the visit was to explore areas of collaboration to support Nigeria’s digital economy agenda. According to Syrjala, Nokia's continued partnership with communications service providers in Nigeria, as well as cable and other operators is to deliver critical network systems with high performance, reliability, and security. He noted that Nokia already had R&D centre in Nigeria, and would target greater investment in this regard.

Louis Ibah, yesterday said the intervention on the LPG issue, better known as cooking gas, followed the rise in recent months in the price of the product per kg from about N700 to above N900 in some parts of the country. Key challenges identified as responsible for LPG price increase, Ekpo said, include FX sourcing for imports and insufficient supply to the domestic market by producers. The meeting, at the instance of the minister, was held at the NNPC Towers and had in attendance top officials of Chevron Nigeria Limited led by Sansay Narasimi. Others included: The Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) led by its Chief Executive Officer, Farouk Ahmed and officials from the Nigerian National Petroleum Company Limited (NNPC). “Ekpo expressed the concerns of President Bola Tinubu over the astronomical increase in the price of cooking gas and the attendant hardship on majority of citizens,” the statement added.

The minister who noted that Nigeria is abundantly endowed with gas reserves, said the situation where some of the multinational firms were more concerned with gas exports without dedicating huge volumes for the domestic market was unacceptable and should be discouraged. "With the exponential increase in the price of LPG, there is the need for the federal government to intervene and I am representing this at this moment. We acknowledge that some producers are exporting while we are faced with the challenges of importation. “Public interest is the overriding interest all over the world for the government, the demand for LPG will increase as we approach December... you have a public service obligation to collaborate with the government to ensure security of gas supply. “We need to therefore bend backwards and find solutions, to ensure that we have sufficient supply and stability in-country and that Nigerians have gas," said Ekpo. The gas minister thereafter constituted a committee

headed by the chief executive of NMDPRA with a mandate to come up with recommendations on how to boost supplies and crash LPG prices within a week. However, the NBS in its latest report said the average retail price for refilling a 5kg cylinder of cooking gas increased by 8.89 per cent on a month-on-month basis from N4,189.96 recorded in September 2023 to N4,562.51 in October 2023. However, on a year-on-year basis, this increased by 1.76 per cent from N4,483.75 in October 2022, it added. On state profile analysis, Kano recorded the highest average price for refilling a 5kg of LPG, with N5,181.43, followed by Adamawa with N5,142.86, and Ogun with N5,093.75. On the other hand, Ebonyi recorded the lowest price with N3,971.43, followed by Osun and Edo with N4,000.00 and N4,025.00 respectively. In addition, analysis by zone showed that the North-west recorded the highest average retail price for refilling a 5kg cylinder of LPG, with

N4,738.20, followed by the North-central with N4,662.62, while the South-east recorded the lowest with N4,088.65. Also, the average retail price for refilling a 12.5kg of cooking gas, increased by 14.04 per cent on a month-on-month basis from N9,247.40 in September 2023 to N10,545.87 in October 2023. On a year-on-year basis, this rose by 4.93 per cent from N10,050.53 in October 2022. On state profile analysis, Edo recorded the highest average retail price for the refilling of a 12.5kg cylinder of cooking gas, with N12,536.88, followed by Jigawa with N12,050.00 and Delta with N11,987.50. Conversely, the lowest average price was recorded in Zamfara with N9,050.00, followed by Lagos and Oyo with N9,071.05 and N9,407.14 respectively. Analysis by zone showed that the South-south recorded the highest average retail price for refilling a 12.5kg cylinder of cooking gas, with N11,480.60, followed by the North-central with N10,683.97, while the South-east recorded the lowest price with N9,847.42.

Olanipekun: Majority of Nigerians Living in Poverty, Situation Scary Gbenga Sodeinde in Ado Ekiti Prominent Legal luminary, Chief Wole Olanipekun (SAN) has said that majority of Nigerians currently live in poverty, stressing that over 70 per cent of Nigerians were living below the poverty level. Olanipekun who spoke in Ikere Ekiti, his country home, in Ekiti State, during the 27th Scholarship Award Scheme and 4th empowerment programme of Wole Olanipekun Foundation (WOF) called on wealthy Nigerians to be more benevolent, saying many people the world over were facing hard times. The legal icon pointed out

that there was tension, unrest, anxiety, pressure, confusion, hatred, anguish, pain, distress and transferred aggression among many people. He added that the situation therefore behoves those who have received “God’s benevolence” to also tap from God’s attribute of compassion by lending helping hands to their fellow human beings. According to him, the situation in Nigeria is much more challenging, with cognisance of its very peculiar and uninspiring economic situation over the years, coupled with the burden of insecurity that it had faced for over a decade.

“The poverty level in Nigeria today is not just scary but also terrifying, as over 70 per cent of Nigerians are rudderless and poverty stricken," he said. The foundation gave out scholarship to 250 students ranging from secondary schools to university/law school education levels, youth empowerment to 100 beneficiaries, 100 aged and widows grants and palliatives to 600 beneficiaries. Specifically, Olanipekun called on Nigerians to extend love, care, sympathy, empathy and kindness to one another. The Chairman of the ceremony and leader of the Senate, Senator Opeyemi

Bamidele, who commended Olanipekun for his kindheartedness and philanthropic gestures described him as a celebrated citizen of Nigeria who should be emulated. Bamidele, who appreciated Olanipekun for his dedication to his community in all ramifications noted that the senior lawyer’s integrity and consistency as a role model was second to none. In his speech, the Governor of Ekiti State, Mr. Biodun Oyebanji, described Olanipekun as a very hardworking man, ready to share with other unconditionally, what humanity has blessed him with.

MONDAY NOVEMBER 27, 2023 • T H I S D AY

T H I S D AY • MONDAY, NOVEMBER 27, 2023

NEWS

ROYAL VISIT TO MARINA... Oba of Benin, Omo N’ Oba N’ Edo, Uku Akpolokpolo, Ewuare II (left) receiving an Eyo eﬃgy from Governor of Lagos State, Mr. Babajide Sanwo-Olu during the Oba’s courtesy visit at the Lagos House, Marina, ... yesterday

NAFDAC Confirms First Locally Made Device for Diabetes, HIV, Malaria Control

Onyebuchi Ezigbo in Abuja

National Agency for Food and Drug Administration and Control (NAFDAC) has confirmed the manufacture of glucometer used in testing and measuring blood sugar levels by Colexa Biosensor Limited, a subsidiary of Codix Pharma Limited, in Lagos. A glucometer, also known as a blood glucose meter or blood sugar meter is a medical device (In-vitro diagnostic) used to measure the approximate concentration of glucose in the blood.

It is a key element for home blood glucose monitoring. A persistent elevation in blood glucose leads to glucose toxicity, which contributes to cell dysfunction and the pathology grouped together as complications of diabetes. A statement by the NAFDAC Consultant on Media, Sayo Akintola quoted the DG of the agency, Prof Mojisola Adeyeye, as having disclosed this during a facility tour of the first Invitro Diagnostics (IVD) manufacturing site of a health technology company, Colexa Biosensor Limited in Lagos.

Igbinedion University to Begin Manufacturing of Electric Vehicles

Adibe Emenyonu in Benin City

The Igbinedion University, Okada, Ovia North-east Local Government Area of Edo State, has said it’s in the process of manufacturing lightweight electric minibus, the first by any university in the country. The Vice-Chancellor of the university, Prof. Lawrence Ezemonye, disclosed this at the weekend during the 21st convocation ceremony of the university. Ezemonye said that the design and fabrication that would lead to the production of the vehicles were ongoing. He said: "Research, development and innovation are critical to scholarship and knowledge production. The university’s efforts in this regard received a boost with the ongoing design and fabrication of light weight electric minibus, which will ultimately lead to the manufacture of lightweight vehicles. “There will be periodic public lectures at various phases of the project, while the engineering students are expected to come up with research topics at the undergraduate and postgraduate levels relevant to the project,” Ezemonye said. He further announced that the university was partnering with Harvard University on research and training endeavour on malaria eradication in Africa, adding that two

members of staff of the university had been recommended to join in the pursuit. Delivering the 21st Convocation Lecture of the University, Secretary to the Government of the Federation (SGF), Senator George Akume, said only a collaboration between the public and private sector can stimulate research and development in Nigeria. Speaking on the lecture titled: “Public and Private Sector Intervention in Tertiary Education in Nigeria: Stimulus for Innovative Research and Development," Akume noted that such private and public sectors’ synergy would drive sustainable growth and ensure a brighter future for the country. According to him, since the creation of Igbinedion University in 1999, as the first University in Nigeria, private investment in tertiary education has come to complement the public investment. “We must agree that the future of Nigeria lies on the quality of education we provide in our tertiary institutions. “With collaboration between public and private sectors, we can stimulate research and development, thereby driving sustainable growth and ensuring a brighter future for our great nation. “Let's be encouraged by the giant stride that the federal government is making to better the lot of Nigerians,” he added.

She said that although there are different methods of testing and measuring blood sugar levels, one of which is the use of blood glucose meters, the manufacture of blood glucose meters and strips in Nigeria will revolutionize healthcare and make a significant impact in the lives of people living with diabetes in Africa and beyond. She, however, emphasized the need for the continuous availability of high-quality products that meet world-class standards to be able to strive favorably with competition from Europe and the United States at relatively affordable prices. The DG said that NAFDAC will be looking at FDA standards as accepted

anywhere in the world, adding that the Agency would work with the company for the necessary assistance in their regulatory compliance. For an African medical device company, she said the feat would go a long way in improving the health of nations through access to quality, innovative, technology-enabled healthcare solutions for the prevention, early diagnosis, and management of diseases. Adeyeye advised the company to focus more attention on the local market by making quality products that are readily available to Nigerians before venturing into the global market with its 12 locations in Africa, including UAE and UK.

She further told the firm that NAFDAC will only allow export of quality products with proven safety and efficacy. According to the company, the introduction of a new plant in Shagamu, things will be a lot easier when that plant becomes operational in October next year. Regarding procurement by international partners, it is quality that is going to sell the product. The NAFDAC boss, however, urged the company to constitute a research team that will go all out to monitor the selectivity and sensitivity rate once it enters the market in Nigeria, adding that this should go hand in hand with the marketing.

The results of this study must be guided by and shared with NAFDAC. According to her, it will be a lot easier when NAFDAC attains WHO Maturity Level 4, adding that at that point, there will little time spent for pre-qualification for applications submitted post attainment. As a leading manufacturer of medical devices and in-vitro diagnostics in Sub-Saharan Africa, Adeyeye commended the company for achieving firsts in several endeavors of its operations, being the first to introduce Malaria Rapid Diagnostic Test (RDT) kits to the national malaria elimination program, which has accelerated the ability to test and treat malaria in a timely manner.

Women Empowerment Reduces Risk of Gender Violence, Says Report Onyebuchi Ezigbo in Abuja

Equipping and empowering women with means to generate or earn income will significantly improve their status and reduce their exposure to gender based violence, says a survey report. The report which was based on the findings from a study conducted in three West African countries of Nigeria, Ghana and Senegal by TechnoServe Nigeria also said that most women do not have confidence in the application of laws and government policies to get justice against gender based violence in the country. The Study which was conducted by TechnoServe Nigeria with funding support from the Ford Foundation, focused on three West African countries of Nigeria, Senegal, and Ghana and over 1000 women were interviewed during survey. While speaking about the study report, Country director for TechnoServe in Nigeria, Adesua Akinboro, said the purpose of the research was, "to speak to women, stakeholders, communities, institutions of faith and culture in the three countries where the research was carried out and to understand

what their perspectives are, what their thoughts were, and then what is going on in society. She said, "The findings from this report were very interesting, because we found that when women are empowered in these communities, they have better earnings. They are better able to support their families. They are better able to support their spouses. She said that TechnoServe as an organisation believes in seeking business solutions to poverty. "So we know that there are a lot of very hard working men and women across the world and in Nigeria that is not an exception. There are a lot of very hard working men and women all over the country. And we believe very strongly in empowering these men and women to increase their incomes, to strengthen their businesses, to grow their businesses. "And so that they can generate the incomes to pull themselves out of poverty. And we have a very strong gender desk. So in all our programming, we ensure that at least 40 percent of those that we are empowering are women," she said. Adesua explained that what informed the research funded

by Ford Foundation, was that TechnoServe wanted to see if there is a nexus between empowering women economically, and gender based violence. "Which means that when you empower women, does that increase their risk to being violated, or does that decrease the risk? Now of course, in the development field, especially international development, we have a principle that we call 'do no harm'. So in the process of implementing your programming, you are not supposed to increase people's risk to negative situations or negative coping mechanisms. "And so if our work empowers women, we want to make sure that as were empowering women, we are not opening them to the risks associated with having money," she said. Ford Foundation's Funke said: “there were certain interesting trends discovered by the report.” She said in Ghana, for instance, the definition of an independent and empowered woman was very funny. According to her, people in Ghana talk about empowered women as those who are married, while those who are single were not.

But in Nigeria, She said that was not the case. Representative of Ford Foundation Olufunke Baruwa said, "The women and men in Nigeria who are respondents felt that a woman generally needs to have her own money, needs to be economically viable and empowered, needs to be able to take care of our own needs are not necessarily dependent on her man. "What happens and what has shifted a little bit is that men become very uncomfortable because of the power shift and power dynamics that they feel". She further stated the primary focus of the study was not just to look at social norms, religious and cultural narratives that tacitly encourage gender based violence, but other factors that lead to gender based violence. "What we were supporting TechnoServe to do was to look at the interplay between gender-based violence and women's economic empowerment. You know, there are lots of anecdotal evidence around the woman's independence, women having economic power, and those that cause some friction in the home for those who are married.

MONDAY NOVEMBER 27, 2023 • T H I S D AY

T H I S D AY ˾ MONDAY NOVEMBER 27, 2023

19 Acting Group Politics Editor DEJI ELUMOYE

POLITICS

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

M O N D AY D I S C O U R S E As Tinubu Brokers Peace in Ondo Politics... Fidelis David writes that the extraordinary political impasse, emotional derangement of utter helplessness, uncertainties and various turbulent moments which Ondo State and its citizens were subjected to in recent times may have ﬁnally come to an end with the weekend’s resolution of the crisis by President Bola Tinubu.

Tinubu

iguratively, there is mark of a new hope in the sunshine State. To some, it’s the beginning of a new life, inspite of the ups and downs of the last three months in Ondo state. The reality of this new season and the re-awakening influence of the new moment removed those throat-cutting bad sessions of gloom and abject crisis, reactions and loneliness. In other words, those miserable moments of sulky grief and the feelings of total loss has eventually become a bitter experience of the past which a new blessing and glory have now replaced in Ondo state. However, to others, the siege is not yet over. Tinubu’s Intervention Basically, the peace and new season can be attributed to the intervention of President Bola Tinubu in the political impasse in the coastal State, driven by concerns over the escalating political tension, exacerbated by Governor Oluwarotimi Akeredolu’s ill health, his absence from the state, the power struggle, and the impeachment proceedings against the Deputy Governor, Lucky Aiyedatiwa. The feud between Akeredolu and the deputy governor, had escalated into a power struggle, casting shadows over the state’s peace and stability. Trouble started with the ill-health of Akeredolu, who went on a three-month medical leave in Germany and his subsequent arrival on September 7, 2023. On September 12, he subsequently disbanded the media crew attached to Aiyedatiwa, over an alleged betrayal of trust on the part of his deputy. Basically, some camps in the political circle alleged that the loyalists of the deputy governor, were behind the rumours about the governor’s ill health so that their principal could be fully in charge of government. But, others claimed that the rumours were the handiwork of mischief makers among the aspirants eyeing the party’s ticket for next year’s governorship election. Alleged Misappropriation of N300m As as result of these, on September 20, the State House of Assembly commenced an impeachment plot against the deputy governor, over alleged financial misappropriation bordering on the approval of alleged N300 million for the purchase of bulletproof SUV for himself but source close to Aiyedatiwa wonderd why the deputy governor who has no direct involvement in the purchase of vehicles can be accused of buying such. Another controversy was Akeredolu’s failure to return to the state or make public

Akeredolu appearance fuelling the suspicion that the state is being governed by proxy. However, in a testament to President Tinubu’s relentless commitment to peace, witnessed the dawn of a truce, as he late on Friday, waded into the months-long crisis between factions loyal to Akeredolu and Aiyedatiwa. This followed marathon negotiations between the President and the deputy governor, representatives of governor Akeredolu, federal and state lawmakers of Ondo, officials of the state’s chapter of the All Progressives’ Congress, and other stakeholders in the state at the State House, Abuja. The president’s resolution of the crisis came at a meeting with major political actors in the state where it was agreed that the deputy governor would be allowed to be, with the impeachment actions against him dropped while Tinubu also ordered the police to withdraw from the premises of the State House of Assembly in Akure. Factions Vow to Uphold Peace, Maintain Status Quo Interestingly, the deputy governor, who declared his decision to maintain the status quo and unite all the factions, said: “I want to say that I pledge to all of you that I embrace every one of you. I put behind all that has happened before now. I’ve let go and also let God, just as the President has advised us. “And I want to say that with no offence, no guile in my mind

Aiyedatiwa whatsoever. All that has happened is politics. Impeachment is part of politics. If you survive it, it is also politics. It has come. I’ve survived it, and every other thing is in the past. “It is one big family and our father has intervened to bring all the children together to remain under the same family and with the position that I occupy, I will carry every one of you along in every decision that needs to be taken and in everything that we do, we will work together; the executive and the legislature will work together to ensure that governance is on the right track.” He pleaded with all members of the State Executive Council to rally around the Governor and himself to “bring the dividend of democracy” to the people of Ondo State. “All the Executive Council members, I want to plead with all of you to cooperate with me, with the Governor, so that we can bring the dividend of democracy to our people. We should respect one another regarding the offices we occupy and our age differences. So, it’s going to be mutual respect. And I want to assure the party structure that we will work together because the party is supreme. We will always give you your due respect.” The Speaker of the State House of Assembly, Oladiji Olamide, who read the details of the resolution, said, “Our resolution is that one, we shall embrace peace. Secondly, there would be no more dissolution of the cabinet, and the Deputy Governor would maintain the status quo as far as the House of Assembly leadership is concerned. We will maintain the status quo as far as the party leadership in the state is concerned and maintain the status quo as far as the leadership of the State House of Assembly is concerned. Thank you, Mr. President.”

Those miserable moments of sulky grief and the feelings of total loss has eventually become a bitter experience of the past which a new blessing and glory have now replaced in Ondo state. However, to others, the siege is not yet over. Basically, the peace and new season can be attributed to the intervention of President Bola Tinubu in the political impasse in the coastal State, driven by concerns over the escalating political tension, exacerbated by Governor Oluwarotimi Akeredolu’s ill health, his absence from the state, the power struggle, and the impeachment proceedings against the Deputy Governor, Lucky Aiyedatiwa.

On her part, the Secretary to the State Government, Mrs Oladunni Odu, said, “Our Father, the President, has taken the trouble to settle our rancour in Ondo State. We owe you all the gratitude, Sir. We will not disappoint you. We have taken every word you said. And we are going home as one united family under the party, APC.” Also, the State APC Chairman, Ade Adetimehin, expressed delight at the outcome of the deliberations, affirming that the party will remain a watchdog to ensure that the new commitments are adhered to. “Today is my happiest moment. And I know sanity has come to Ondo State. So, on behalf of the teeming supporters of our party in the state, we appreciate our leader, Mr. President. PDP has crumbled in the state; virtually, they decamp every day. The only problem we have is the one you have solved for us today. And that problem has been resolved permanently,” Adetimehin stated. The Crisis Is Not Yet Over The opposition Peoples Democratic Party (PDP) in the state, however, believes the intervention of President Tinubu was a mere window dressing, saying the siege is not yet over. The Party’s Publicity Secretary, Kennedy Peretei, said as long as Akeredolu remains in hiding, it is not yet over, noting that the cat and mouse race will still continue. The PDP said: “There have been conflicting reports as resolutions of the Presidential parley at the instance of President Bola Tinubu to resolve the political impasse that has plagued Ondo State for a better part of this year. Both Rotimi Akeredolu and his embattled deputy, Lucky Aiyedatiwa’s camps interpreted the resolutions as being in their favour. “Mrs Betty Akeredolu celebrated the resolutions on her verified X-handle as “Hottest Breafast to last everybody till 2025”. To Aiyedatiwa’s supporters, their worries about impeachment are over. “Let us pray that, the Presidential intervention will not go the way of the Bello Masari Reconciliation Committee set up by APC National Chairman, Abdullahi Ganduje. After several trips to Abuja at taxpayers’ expense, both parties returned to court despite promises to withdraw all cases.” According to the opposition party, “Again, major stakeholders in the All Progressives Congress (APC), leadership of the Ondo State House of Assembly and Ondo State Government were at the Villa to iron out their intractable differences. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ DAY Ͱ͵˜ ͰͮͰͱ

FEATURES

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

A Multi-faceted Approach to Tackling Illegal, Unreported and Unregulated Fishing The Nigerian Navy recently flagged off Exercise EJA Express to tackle the menace of illegal, unreported and unregulated fishing. Chiemelie Ezeobi, who was embedded in the exercise, reports that it also provided opportunity to enhance operational readiness and efficiency of troops and platforms

The Flag Officer Commanding, Naval Doctrine Command, Rear Admiral Habila Zakaria flagging off the exercise while the FOC Western Naval Command, Rear Admiral Mustapha Hassan; WNC COO, Rear Admiral Jonathan Mamman; Fleet Commander, WNC, Commodore Victor Choji; Commander NNS BEECROFT, Commodore Kolawole Oguntuga and others watch

FOC West, Rear Admiral Hassan; Fleet Commander, Commodore Choji and CO, NNS KADA, Captain Tony Bassey

Rear Admirals Zakaria and Hassan preparing to ﬁre during the weapons handling exercise on board NNS KADA

n the Gulf of Guinea waters, an estimated US$9 billion to US$24 billion is lost to Illegal, Unreported and Unregulated Fishing (IUUF) globally, with the level of illegal fishing in the Gulf of Guinea (GoG) being 40 per cent higher than the global average. The destabilising impacts of IUU fishing in the GoG result in losses estimated on average at about 790,000 tons of fish per year. This has resulted in annual economic losses in income of over $2 billion. Essentially, IUU Fishing is a global problem that threatens ocean ecosystems and sustainable fisheries. It also threatens our economic security and the natural resources that are critical to global food security, and it puts law-abiding fishermen and seafood producers abroad at a disadvantage. Exercise EJA Express For this reason and more, the Nigerian Navy (NN), flagged off Exercise EJA Express. The Fourth Quarter Sea Exercise showcased a multifaceted approach encompassing various maritime activities to enhance operational readiness and efficiency. As one at the forefront of fighting maritime crimes, the exercise saw NN personnel put out vessels and helicopter to sea with elements of the Special Boat Services (SBS). Flag Off At the flag off, the Flag Officer Commanding (FOC), Western Naval Command (WNC), Rear Admiral Mustapha Hassan said EJA was derived from Yoruba language, meaning "Fish" in English, which encapsulates the essence of the exercise; to address prevalence of IUUF in the GoG. He said: “It is well known that Illegal Unregu-

He said assessment would be based on conducting maritime operations, aspects of war-fighting, and checking how the ships carry out exercises to evaluate their major operational readiness. “In a nutshell, as a Naval Doctrine Command, we will assess and work on them, contributing to the combatant CNS exercises,” he said. Exercises at Sea Having set the tone for the exercise, the senior officers including WNC Fleet Commander, Commodore Victor Choji, set sail onboard NNS KADA with its CO, Captain Tony Bassey and crew. Three other platforms followed suit At sea, exercises like fleet maneuvers, gunnery exercises, vertical insertion, and VBSS (Visit, Board, Search, and Seizure), and interceptor boats were observed. Communication exercises and seamanship evolutions were also integral parts of the operation.

Formation of oﬃcers onboard NNS KADA for Exercise EJA Express lated and Unreported Fishing (IUUF) is significant in the GuIf of Guinea...The Western Naval Command is therefore launching this exercise to work up her ships and personnel in keeping up with our constitutional responsibilities. “EX EJA EXPRESSION will greatly enhance the proficiency of Nigerian Navy personnel in the command and also enable us to test the operational state of our machinery." The FOC WNC further acknowledged the leadership of Vice Admiral Emmanuel Ikechukwu Ogalla, Chief of the Naval Staff, for the unwavering support

provided in ensuring a safer environment for economic activities within the area of responsibility. Assessing Fleet Readiness Given the multi-faceted nature of the exercise, Flag Officer Commanding, Naval Doctrine Command, Rear Admiral Habila Zakaria, who flagged off the exercise said that it was also to assess the fleet’s readiness to combat situations. He said: "The function of the Western Naval Doctrine Command is to conduct combat readiness assessments of all the fleets within the Nigeria Navy. This is to ensure that the fleets are always prepared to carry out their functions, whether during wartime or peacetime."

Collaboration With the ultimate goal being to curb martine crimes and re-tool skills of personnel while assessing the platforms, the collaborative part of the exercise cannot be understated. In this exercise, the navy partnered relevant stakeholders in the maritime sector including the Nigerian Maritime and Security Agency (NIMASA), the Nigerian Police and the Federal Department of Fisheries and Aquaculture, to fortify interoperability while enhancing security within the maritime domain which contributes to the overarching goal of fostering a vibrant blue economy. At the end of the exercise at sea, the Nigerian Navy reinforced its commitment not just at protecting aquatic life, but also the maritime domain from all crimes in its entirety.

T H I S D AY ˾ DAY Ͱ͵˜ ͰͮͰͱ

FEATURES

Repositioning the EFCC for Effectiveness, Transparency in the Anti-corruption War in Nigeria Auwal Musa Rafsanjani

he Economic Financial Crimes Commission (EFCC) investigates people in all sectors who appear to be living above their means, and is empowered to investigate and prosecute money laundering, advance fee fraud, counterfeiting, illegal fund transfers, futures market fraud, contract scam, etc; the coordination and enforcement of all economic and financial crimes laws. The establishment of the Commission in April 2003 was partly in response to pressure from the Financial Action Task Force (FATF) on Money Laundering. The FATF had ranked Nigeria as one of the 23 countries that were non-cooperative in the combined efforts to fight money laundering globally. Due to identified inadequacies in the 2002 Establishment Act, the national Assembly repealed it and re-enacted the 2004 Establishment Act was signed into law on 4th June 2004 by former President Olusegun Obasanjo. These inadequacies still persist, and while recent focus has been on whether the nomination of leadership of the agency meets legal requirements, there is a need to focus on the extent to which the provisions of the EFCC establishment Act satisfy public and standard expectations for eligibility of a nominated Chairman and meets the purpose for which a financial crimes institution should be set up. There has been a long clamour for an amendment that guarantees efficiency and effectiveness by explicit provisions that border on competence and integrity, expand the scope for eligibility to accommodate more suitable/qualified nominees, and limit political interference for security of tenure. The past administration, despite having introduced legal frameworks, institutions and initiatives, in driving its alleged anti-corruption agenda, failed to realise their objectives. It is noteworthy that combatting crime remains instrumental to the realisation of the goals of the United Nations General Assembly adopted 2030 Agenda for sustainable development. The SDG 16 in particular, focuses on Peace, Justice and Strong Institutions for reducing illicit financial flows, strengthening the return and recovery of stolen assets and combatting all forms of organised crime; sustainably reducing bribery and corruption in all its ramifications. As we progress into a new dispensation and anti-corruption regime, we would like to situate our comments and recommendations within the following broad areas: Strengthening Frameworks for Effectiveness and Efﬁciency Following recent debates sparked by the appointment of the new Chairman, and as stated above, there is a need to not only deliberate on whether the nomination of the leadership of the agency meets legal requirements but the extent to which the provisions of the EFCC establishment Act satisfy public and standard expectations for eligibility of a nominated Chairman and meets the purpose for which a financial crimes institution should be set up. Since its establishment, stakeholders have continued to insist that the law establishing the EFCC is not only restrictive and discriminatory, but that it unjustifiably shuts out Nigerians with equal or even greater competence and patriotism to head the anti-graft agency. There is an urgent need for reforms to enable anti-corruption institutions like the EFCC carry out their mandate effectively and independently, without undue influence and the new chairman needs to lay a foundation for wide consultations on this process. This would set the stage for a comprehensive interrogation of the conceptual, structural and operational frameworks of the commission with a view to identifying its strengths, weaknesses, opportunities and threats towards informing recommendations on specific ways its operations and administration can be more effective and efficient. It is instructive to note that such a process demands wide consultations with various state and non-state stakeholders to enrich and ensure the robustness of these reforms and to address cross-cutting issues.

EFCC Chairman, Ola Olukoyede Strengthening Measures to Prevent Corruption Past administrations of the EFCC have secured a commendable number of convictions, and more recently, a total of 3785 (Three Thousand Seven Hundred and Eighty-five) convictions were recorded across all its Commands in 2022, recovering over $121 million (about N51 billion at the average exchange rate of N423/$ for 2022) and non-cash assets. With its 2022 budget at over N43 billion, the commission’s operations have however come at great costs at the expense of taxpayers. As a cost-effective and proactive way of conducting its operations, the EFCC should explore opportunities for strengthening preventive mechanisms, including but not limited to strategic collaborations and integration with relevant agencies for real-time data and information-sharing. Formulating strategies to prevent corruption will also entail enhancing the EFCC's capabilities, which includes fostering integrity within the organization and establishing frameworks that guarantee transparency and foster accountability in public administration. Improving the Quality of Convictions While the nominal convictions recorded by the Commission are impressive, the quality of convictions are not. Frequent media announcements of high-profile arrests have only led to a few convictions, even in seemingly open and shut cases, to the dismay of both local and international observers. Last year, despite the low number of convictions for politically exposed persons (PEP), the Council of State on the recommendation of the then President, pardoned and released two convicted former governors from prison – Jolly Nyame of Taraba and Joshua Dariye of Plateau, whose prison terms were upheld by the Supreme Court. The lack of significant political convictions however leaves a lot to be desired. There is a long list of individuals and politically exposed persons who have been on the EFCC wanted list for years without prosecution or convictions. The Commission needs to ensure that it conducts thorough investigations of all public officers and politically exposed persons (PEP) named in the Pandora papers, Panama Papers, Paradise Papers, Genko scandal and FinCEN Files while those found guilty be made to face the full wrath of the law as a deterrent to others. Additionally, in a recent contract and

ED CISLAC, Auwal Musa Rafsanjani procurement fraud survey, the new Chairman revealed that between 2018 and 2020, 2.9 trillion meant for some government projects was diverted into personal use by contractors. It is our hope that this revelation will inform investigations and prosecution of those complicit in this fraud. Transparency and Accountability There is an increased need for the demonstration of greater transparency and accountability to the Nigerian public, especially with regards to operations, budgets and expenditures. In promoting public confidence, both locally and internationally, we encourage the Commission to adopt a well-designed and operational system of asset declaration that can be an important element in the overall anti-corruption and integrity system through “asset declaration available for public scrutiny”. Professional Conduct in Investigation, Arrest, Prosecution, and Public Engagement Anti-corruption is a collective effort, and it is thus imperative that Commission staff discharge their duties and engage the public with the utmost professionalism to restore its confidence and support. Nigeria has a terrible human rights profile and according to a June 2023 report by the Human Rights Measurement Initiative (HRMI), has a below average performance when compared with other countries in Sub-Saharan Africa. Investigations- There have been countless accounts and a growing public angst against the unethical practices of anti-corruption agencies across the country. The Commission has been accused of embarking on media trials rather than collecting hard evidence before effecting arrests and prosecutions. It cannot be overemphasised that thorough investigations must be conducted to a satisfactory level before prosecution and when accused persons are brought before the court, proper charges must be made against the person(s), facilities must be availed, such as legal representation and the charges against the person must be within the law. The new leadership has the opportunity to change the narrative by ensuring that the conduct of the Commission’s officials is professional during arrests and when addressing the public and the Chairman must enforce a zero tolerance for corruption, indiscipline and unprofessional conduct. The EFCC needs to also embrace a culture of adapting to evolving forms of corruption through digitisation. Arrests- Recent arrests like that of the former Imo state Governor, Rochas Okorocha have led to accusations that the Commission deploys unsavory and unlawful tactics in its arrests. These processes are not in tandem with the rule of law and are a clear violation of the rights of any accused or suspected individual, and we urge the new chairman to make fairness and justice his watchwords while discharging

There is an urgent need for reforms to enable anticorruption institutions like the EFCC carry out their mandate eﬀectively and independently, without undue inﬂuence and the new Chairman needs to lay a foundation for wide consultations on this process

his duties. Public engagement- There is a need to strengthen public engagements through effective communication and feedback channels. According to a public perception survey by Chartered Institute of Forensics and Certified Fraud Examiners of Nigeria in its review of the National Anticorruption Startefy (2017 – 2021), it was noted that the public awareness of channels for reporting corruption cases remains perceptively low, as well as the effectiveness and the level of protection whistleblowers. Anti-corruption agencies frequently face intense scrutiny from various quarters and delays in their response to corruption issues are often seen as either incompetence or political bias. The agency's image can be heavily influenced by public and media perceptions, pushing it into a defensive stance. The Commission should thus continuously engage the public to provide sufficient and clear information and work closely with the media to ensure the message is accurate. The Commission should also not operate in isolation and must see itself as an institution active in the public sphere where building coalitions and shaping public opinion are part and parcel of its own sustenance and effectiveness. It must thus maintain political neutrality and focus on its technical mandate, while desisting from joining issues with the public. Strengthening Domestic and International Collaborations for Collective Impact The fight against corruption is a monumental task that cannot be undertaken by the EFCC alone and fostering collaborations and harmonising inter-agency operations is crucial to mitigating corruption. While we applaud the Commission for proactively establishing strategic collaborations with other national agencies to mitigate corruption, these collaborations are yet to yield significant reduction in corruption. The Commission should take better advantage of its collaborations with agencies like the Nigerian Content Development and Monitoring Board (NCDMB), Nigeria Extractive Industries Transparency Initiative (NEITI) through the Extractive Industries Fraud Section of the Commission, Federal Inland Revenue Service (FIRS), and the Presidential Artisanal Gold Mining Development Initiative (PAGMI). A lot needs to be done to improve on these strategic partnerships, including extending it to the media, religious bodies and the civil rights groups as the collaborative efforts will greatly reduce the scourge of graft and set Nigeria on the path to greatness. Further to this and at the international level, the new leadership should reestablish and optimise the Commission’s already existing alliance with international security organisations such as the Federal Bureau of Investigation (FBI) and the International Police (Interpol), among others. The coordinator of the criminal networks sub-directorate of its organised crime unit during his visit to the Commission in September 2023 stressed this and sought a collaboration towards tackling the “Nigerian organised crime groups” across the West African sub-region. Collaborations of this nature should be welcome towards identifying members of African organised crime groups, both within Africa and internationally, and linking them to their specific criminal organisations by improving the exchange of information and developing tailored operational initiatives. The past administration had aligned with the Open Governance Partnership (OGP) and Global Forum for Asset Recovery in addition to existing commitments to AU and ECOWAS conventions against corruption, and the United Nations Convention Against Corruption (UNCAC). There were however shortfalls in fulfilling expectations of these alignments but the Commission could advance these relationships and outcomes by subjecting itself to periodic reviews of its progress in implementing the articles of conventions. -Rafsanjani is the Executive Director Civil Society Legislative Advocacy Centre(CISLAC)& Head of Transparency International Nigeria. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

MONDAY, NOVEMBER 27, 2023 • T H I S D AY

This Week In Tech 08097710984

nosakhare.alekhuogie@thisdaylive.com

Nosa

Alekhuogie

Transforming Nigeria: The Journey to Forge a Tech-savvy Workforce In the symphony of Nigeria’s tech evolution, Nosa Alekhuogie orchestrates a compelling narrative that unveils the challenges, triumphs, and boundless opportunities in the journey to forge a tech-savvy workforce

silent revolution is underway in the heart of Nigeria, where the rhythm of life is woven with diversity and resilience. Nigeria is quickly becoming one of the most important tech hubs in Africa. Nigerians use technology to solve some of the country’s most pressing issues in various fields, from healthcare to financial services. Beyond the headlines of political sagas and cultural celebrations, the nation is navigating the complex terrain of technological evolution. In a world where technological prowess defines global influence, Nigeria is scripting its narrative of transformation. From the buzzing streets of Lagos to the serene landscapes of Abuja, the quest for a tech-savvy workforce is akin to forging a new frontier. As the digital landscape unfolds, so do the challenges and opportunities.

TECH CLASSROOM DIVIDE, SKILLS MISMATCH

Nigeria has the second highest density of tech startups in Africa and local companies that have raised significant funding. Disparities mark Nigeria’s educational landscape, and the tech classroom is no exception. In urban centres, where resources are abundant, students may find themselves immersed in cutting-edge technology. In rural areas, the reverse is the case. Meanwhile, organisations like Tech for All are championing change, bringing mobile tech labs to remote schools ensuring that no corner of the nation is left untouched by the digital wave. A persistent challenge lies in the apparent mismatch between academic training and the evolving needs of the tech industry. To bridge this gap, forward-thinking companies like Andela and Flutterwave are actively involved in reshaping curricula through collaborations with universities. Their approach involves hands-on workshops, internships, and mentorship programs, ensuring that graduates are equipped with degrees and practical, job-ready skills.

STRATEGIES FOR A TECHDRIVEN FUTURE

The synergy between corporate giants and educational institutions is a beacon of hope. A noteworthy example is the collaboration between Google and the Nigerian government, giving birth to the ‘Google for Education’ initiative. This programme is transforming classrooms into tech-friendly learning environments by providing free access to a suite of tools and resources. There’s also the collaboration between the Federal Ministry of Education and Oracle Academy, where Nigerian students can access hands-on experience and develop an in-depth understanding of the latest technologies, including cloud computing, data science and machine learning. Entrepreneurs like Bosun Tijani, the Minister of Communication, Innovation and Digital Economy, are pivotal in driving change from the grassroots. He is the co-founder of the Co-Creation Hub (CcHub), which serves as an incubator for tech startups and a hub for tech enthusiasts, creating an ecosystem where learning, collaboration, and innovation thrive. The success stories emerging from this hub exemplify the transformative power of local initiatives.

SUCCESS STORIES

FarmCrowdy: Nestled in the heart of Nigeria’s agricultural landscape, FarmCrowdy emerges as a stellar example of technology catalysing change. Founded by Onyeka Akumah, FarmCrowdy leverages crowdfunding and innovative tech solutions to bridge the gap between small-scale farmers and investors. By providing a digital platform where investors can fund specific farm projects, individuals are not merely contributing financially but actively participating in revitalising Nigeria’s agricultural sector, resulting in increased agricultural productivity, improved livelihoods for farmers, and a model demonstrating the potential for inclusive, tech-driven solutions. Beyond financial gains, FarmCrowdy showcases how technology can be a transformative force in sectors traditionally considered remote from the digital wave, setting a precedent for agritech

GLOBAL COLLABORATION innovation across the continent. Andela: Founded by Iyinoluwa Aboyeji, Jeremy Johnson, and Ian Carnevale, it is a testament to the global calibre of tech talent emerging from Nigeria. This fully remote company identifies and develops high-potential software developers, offering them intensive training and connecting them with global tech companies. What makes Andela remarkable is its commitment to proving that Africa can be a source of world-class tech talent. Andela’s success is not just measured in numbers or revenue; it is a narrative shift. Graduates from Andela are not just employees; they are ambassadors challenging stereotypes and reshaping the narrative on African talent. The impact transcends borders, creating a more inclusive and diverse global tech workforce. Andela exemplifies how investing in local talent can have a ripple effect, transcending geographical boundaries. LifeBank: Founded by Temie GiwaTubosun, LifeBank is a healthtech startup that leverages technology to improve access to essential medical supplies, particularly blood. LifeBank’s platform connects hospitals with blood banks and suppliers, ensuring that life-saving resources are efficiently distributed to where they are needed most. This innovative approach has not only addressed critical gaps in healthcare delivery but has also showcased how technology can be a force for social impact. LifeBank’s success is measured not just in its business growth but in the countless lives it has positively impacted, making it a shining example of how tech can be a catalyst for positive change in societal challenges. Kobo360: Founded by Obi Ozor and Ife Oyedele II, it is reshaping Africa’s logistics and supply chain landscape. This digital logistics platform connects truckers with cargo owners, optimising the movement of goods across the continent. Through technology, Kobo360 addresses inefficiencies in the logistics sector, reducing costs and improving delivery times. The success of Kobo360 highlights the transformative power of technology in traditionally complex industries. These success stories demonstrate the versatility of Nigeria’s tech ecosystem, extending its impact to healthcare, logistics, and beyond. Each of these startups represents

a business achievement and signifies a commitment to addressing real-world challenges through innovative, tech-driven solutions. As Nigeria continues to nurture such enterprises, the landscape is poised for further evolution and global recognition. Opportunities and dawn of a new era In the wake of Nigeria’s quest to build a tech-savvy workforce, a tapestry of opportunities unfurls, painting the dawn of a new era that transcends borders and envisions a digitally empowered future. The burgeoning tech industry in Nigeria is not merely a local phenomenon. It is a beacon on the global stage. Startups like Flutterwave, with its innovative fintech solutions, exemplify the potential for Nigeria to position itself as a tech innovation hub. The ripple effects of a thriving tech sector are extensive: creating job opportunities, attracting foreign investment, and fostering a culture of entrepreneurship. As the digital economy expands, Nigeria has the chance to emerge as a key player in the global tech ecosystem, shaping its own destiny and influencing the broader narrative of technological progress. In the pursuit of a tech-savvy workforce, there’s a unique opportunity to champion diversity and inclusion. Initiatives like She Code Africa and Cybersafe Foundation are not just closing the gender gap in tech but empowering a diverse generation of tech enthusiasts. By providing training, mentorship, and networking opportunities for women in tech, these programmes contribute to building a workforce that reflects the rich diversity of Nigeria. The benefits of diversity extend beyond social justice; they include enhanced creativity, varied perspectives, and increased resilience. With its dynamic challenges and ever-evolving landscape, the tech industry thrives on innovation. By actively including individuals from different backgrounds and experiences, Nigeria can ensure that its tech workforce is skilled and equipped to tackle the complexities of the digital age. The success of startups like Thriveagric in agritech and Cutstruct Technology in proptech demonstrates the potential for technology to transform industries once considered immune to digitisation, opening a myriad of opportunities for entrepreneurs and tech

enthusiasts to explore untapped markets and create solutions that address pressing societal challenges. As innovation permeates diverse sectors, Nigeria stands at the forefront of a paradigm shift where technology becomes a tool for positive social impact. The dawn of this new era is marked by economic prosperity and the potential to build a more inclusive and resilient society.

GLOBAL COLLABORATION AND INFLUENCE

The interconnected nature of the digital era invites global collaboration. As Nigerian startups and talent make waves on the international stage, there’s an opportunity to foster partnerships, attract global investment, and participate in cross-border innovation. By connecting African developers with global tech firms, companies like Andela showcase how Nigeria can actively contribute to and benefit from the global tech ecosystem. This global influence extends beyond business; it includes participation in shaping the ethical and regulatory frameworks that govern technology. Nigeria has the opportunity to assert its voice in conversations about data privacy, cybersecurity, and digital governance, influencing the trajectory of global tech policies. The dawn of a new era in Nigeria is not just about embracing technology. It is about leveraging it to redefine the nation’s narrative. The opportunities unveiled in this digital awakening are expansive — from economic prosperity and social impact to global influence. As Nigeria navigates this transformative journey, it secures its place in the digital future and becomes an architect of a new era that transcends the boundaries of imagination and innovation.

CHARTING THE COURSE OF A DIGITAL FUTURE

As the sun sets on Nigeria’s landscape, the shadows cast by challenges gradually give way to the brilliance of innovative solutions and unprecedented opportunities. The journey to forge a tech-savvy workforce is not just a national pursuit; it’s a global rendezvous with the future. With its rich tapestry of cultures and untapped potential, Nigeria is not merely adapting to the digital era; it’s actively shaping it. In the quiet classrooms and bustling tech hubs, in the stories of determined entrepreneurs and collaborative initiatives, a nation is transforming.

T H I S D AY ˾ MONDAY, NOVEMBER 27, 2023

BUSINESSWORLD R A T E S MONEY MARKET

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

08056356325

N O V E B E R

S & P INDEX

2 4 , 2 0 2 3

S & P INDEX

EXCHANGE RATE

OPR

11.25%

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19.12%

INDEX LEVEL

611.31%

1/4 TO DATE

-0.07%

N795.28/ 1 US DOLLAR*

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11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT FRIDAY, JULY 21, 2023

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15.75%

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Financial Sector’s Contribution to GDP Shrinks 8.94% to N771.06bn on Inflation, FX Crisis

Kayode Tokede Excluding the insurance sector, banks and other financial institutions contributed N771.06 billion to Nigeria’s real Gross Domestic Product (GDP) in third quarter of (Q3) 2023, a decline of 8.94 per cent from N846.77 billion in the corresponding period of 2023. According to the National Bureau of Statistics (NBS), banks and other financial institutions’ contribution to GDP stood at N870.82 billion in Q1 2023. Analysts have attributed the decline to unstable naira rates at the foreign exchange market, reforms in the Oil & gas sector by the federal government, and a double-digit inflation rate that has continually weakened consumers’

purchasing power and commercial banks’ lending to the real sector. With the inflation rate at 26.72 per cent as of September 2023 (27.33 per cent in October 2023), Stanbic IBTC Bank Nigeria’s Purchasing Managers’ Index (PMI) dropped to 49.1 basis points, down from September’s reading of 51.1 basis points, to signal the first contraction in the nation’s private sector since March this year. New business decreased at a solid pace, thereby ending a six-month sequence of growth, as the steep inflationary environment acted to depress customer demand. Business activity also declined, falling for the second time in the past three months and to the largest extent since the cash crisis earlier in the year the PMI report by Stanbic IBTC Bank

revealed. The bureau, however, revealed that the banks & financial institutions, and insurance sectors contributed N2.73trillion to Nigeria’s economy in nine months of 2023, representing an increase of 25.3 per cent from N2.18 trillion reported in the corresponding period of 2022. The breakdown for the insurance sector, according to NBS showed that the insurance sector real GDP growth stood at N78.3billion in Q1 2023, and increased to N86.04billion in Q2 2023. It, however, dropped by 11.42per cent quarter-on-quarter (QoQ) to N76.22billion in Q3 2023. NBS stated that the real terms growth in finance and insurance sectors totalled 28.21 per cent, higher by 15.52 percentage points from the rate recorded in Q3 2022 and

higher by 1.37percentage points from the rate recorded in the preceding quarter. “QoQ growth in real terms stood at -9.17per cent. The contribution of Finance and Insurance to real GDP totalled 4.36per cent, higher than the contribution of 3.49per cent recorded in the third quarter of 2022 by 0.87percentage points, and lower than 5.26 per cent recorded in Q2 2023 by 0.91percentage points, ”NBS disclosed in a report. NBS in its latest report disclosed that Nigeria’s GDP grew by 2.54 per cent (year-on-year) in real terms in Q3 2023, higher than 2.51 per cent in Q2 2023 and 2.25 per cent in Q3 2022. It added, “The performance of the GDP in the third quarter of 2023 was driven mainly by the Services

sector, which recorded a growth of 3.99per cent and contributed 52.70per cent to the aggregate GDP.” S&P Global sector PMI survey data have shown resilient worldwide economic growth in early 2023 to have been fuelled by resurgent demand for consumer services amid a post-pandemic shift in spending away from goods towards activities such as travel, recreation and tourism. Nigeria’s business environment is currently facing double-digit inflation, associated foreign exchange shortages that have impacted on prices of goods and services, and slow lending rates to customers. Commenting on the finance and insurance sectors’ performance, a senior lecturer at Lagos Business School, Dr. Adi Bongo had predicted a further decline in financial

institution contribution to GDP in Q3 2023 amid the removal of fuel subsidy and foreign exchange reforms. “What is happening in the economy that has trigged inflation rate, the volume of business activities in Nigeria has significantly dropped and it may take a long time before the adjustment begins to happen. “Nigeria is still stuck with a high level of infrastructure deficit, low energy production, and insecurity. These are the major indicators to drive the finance and insurance sectors and for now, no improvement and policy directions,” he said. The story continues online on www.thisdaylive.com

Experts: Interest Rates Stability Vital to Real Estate Sector Growth Ugo Aliogo Experts and stakeholders in the real estate sector have stated that the stability of the interest rate is vital to strengthening growth in the sector. The stakeholders made this known at the West Africa Property Investment Summit organised by Africa Property Investment Summit in Lagos. Seaking, the Director, Capital Markets, Jones Lang LaSalle (JLL) for Sub-Saharan Africa, Mr Pepler Sandri, said that the stage of the commercial real estate cycle had hit a relatively low point.

“You could say it is the bottom of the cycle and we may be seeing the green shoots of recovery in the sector,” he said. He revealed that looking back a few years; the COVID-19 pandemic put a halt to the market globally adding that since then each country has had different rates of recovery. He noted that Nigeria has also had macro issues affecting that recovery and as such is really at a difficult stage in the cycle. “I think looking forward as interest rates stabilise and JLL’s house view is that across most developed markets, interest rates should be coming down

in the next six to 12 months in the global developed markets. Whether Nigeria will follow that trend is still up for debate, “ he added. On his part, the Head, Real Estate Finance, Stanbic IBTC, Mr Tola Akinhanmi, said that the real estate sector had remained resilient in spite of the economic challenges. Akinhanmi averred that the government could play a role in creating access to land and investing in infrastructure to support real estate development. “Land availability and infrastructure expansion are key factors in reducing the housing

deficit and opening up new areas for development, “ he said. In his remarks, the Head, Marketing and Corporate Communication, Knight Frank, Nigeria, a real estate company, Mr Lanre Sonubi, said that the acceptability of real estate investment trust (REIT) in Nigeria depended on trust being sold to investors. Sonubi said also, there was the need for education about how trust works in managing investments. “Trust also goes hand in hand with sustainability and succession planning. Listing real estate businesses on the Nigerian

Stock Exchange can be volatile, but it offers opportunities for raising funds and increasing the attractiveness of the business to investors. “The real estate sector cannot drive inflation, but it is affected by inflation through factors such as building materials and labour costs. Stable interest rates are needed for the real estate sector to deliver properties at a reasonable rate and manage them effectively. Unfortunately, the current inflation situation in Nigeria is expected to continue until at least the end of 2025, “Sonubi said.

Also speaking, the Chief Executive Officer, Mr Dutum Company Limited, Mr Temitope Runsewe, said that the real estate market was still in its early stages and needed time to fully accept the workings of a REIT. Runsewe said: “However, looking at other markets, it is clear that REIT can be successful if given time. Real estate is heavily affected by inflation, so developers must be creative in how they approach it. Methods such as pre-paying for materials, managing projects efficiently, and hiring the right contractors can help mitigate the impact of inflation.”

M A R K E T D ATA A S AT F R I D AY, N O V E M B E R 2 4 , 2 0 2 3 BONDS Change Updated Time DESCRIPTION Price Yield (%) ^13.53 230,00 November 98.09 15.12 24, 2023 MAR-2025 ^12.50 22November 94.86 15.36 1,00 JAN-2026 24, 2023 ^16.2884 17November 102.05 15.45 0,00 MAR-2027 24, 2023 ^13.98 23November 96.00 15.27 0,00 FEB-2028 24, 2023 ^14.55 26November 95.16 15.91 -14,00 APR-2029 24, 2023

BILLS MATURITY

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Change (%) Updated Time

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NTB 25-Jan24 NTB 8-Feb24 NTB 7-Mar24 NTB 11-Apr24 NTB 9-May24

6.84

6.92

-1.63 November 24, 2023

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15.15

7.24

7.35

-1.66 November 24, 2023

GMBL CP II 8-DEC-23

13.37

13.45

7.92

8.10

-1.84 November 24, 2023

FDHP CP IV 11-DEC-23

12.41

12.49

8.77

9.07

-2.08 November 24, 2023

14.73

14.93

9.88

-2.29 November 24, 2023

16.23

16.96

9.45

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CPS

STBP CP IV 12-DEC-23 MCIL CP VIII 27-DEC-23 FLOUR MILLS CP III 29-FEB-24

Discount Yield

Change (%)

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-162,00 November 24, 2023 -163,00 November 24, 2023 -162,00 November 24, 2023 -167,00 November 24, 2023 -183,00 November 24, 2023

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

Updated Time

November 24, 2023 November 24, 2023 November 24, 2023 November 24, 2023 November 24, 2023

MONDAY, NOVEMBER 27, 2023 ˾ T H I S D AY

BUSINESSWORLD

NEWS

Improved Exports: FAAN to Develop, Implement Cargo Bill of Rights Chinedu Eze The Federal Airports Authority of Nigeria (FAAN) has assured that the lingering problem of delays and multiple charges for cargo at the airports would soon be a thing of the past. The assurance was given by the Managing Director of the agency, Mr. Kabir Yusuf Mohammed who said that this would be achieved with the implementation of the recommendations of the Aviacargo Roadmap committee that was set up by the agency some time ago. Mohammed promised to support the development of new Standard Operating Procedures (SOP) for the operators in the cargo terminals in Nigeria, adding that

FAAN would also implement a new service-level agreement that would overhaul the whole cargo operations in Nigeria. Mohammed made this known during the monthly briefing to him by the Coordinator of the Committee, Ambassador Ikechi Uko. He observed that by implementing the Cargo Bill of Rights, the new SOPs and service-level agreements, the airports would effectively become a corruption free zone, adding that these new measures would improve the integrity of the exports from Nigeria and would reduce the rejection of goods. In his presentation, Uko told the FAAN boss that the committee did

not make presentations in the last months because of the field trip its members embarked on, disclosing that five- stage project plan has only two legs left to complete the assignment and seeks the support of the FAAN Managing Director to proceed with the remaining parts of the job, which would include collation and report writing of the findings by subject matter experts. Uko said the committee has identified 10 points for implementation and among the highlights of his presentation include the FAAN Cargo bill of rights that guarantees the swift, transparent and efficient handling of any good that comes into any Nigerian airport and delivery to the owner.

‘Why Nigerians Abandon Insurance Claims’ Ebere Nwoji Insurance expert and former Chairman Nigeria Insurers Association (NIA), Mr Gus Wiggle, has listed reasons Nigerians don’t file in claims from insurance policies they purchased saying it ranges from fear of rejection of their claim request, lack of knowledge of procedures for filing their claims and ignorance of the actual documentation that might be required by the insurance company. He also noted the fact that some see it as time wasting filing claims

which value was not much and would therefore not want to waste time filing such claim. He said another reason the insureds don’t file or follow up their claim was due to passive notion that insurance companies don’t pay claims and therefore don’t want to waste their time. “This lack of motivation can lead to procrastination and ultimately abandonment of the claim, ”he said. Wiggle who is presently consultant Claims Advocacy Group, said this has spelt the need for involvement of insurance brokers in insurance

policy contract. “I have always advocated for the use of brokers/agents whenever you want to buy insurance. I am not sure you can buy any stock in the capital market with a stockbroker who still charge you for the services rendered but not so in insurance, “he said. He also informed that there are now claims intermediaries that assist to process claims even if you have a broker to help process these claim. He advocated the use of brokers/ agents whenever people want to buy insurance.

Onyema Congratulates Ibom Air on Delivery of New Aircraft Chinedu Eze The Chairman and CEO of Air Peace, Allen Onyema, has congratulated Ibom Air for the delivery of its first out of 10 aircraft it ordered from world’s largest airplane maker, Airbus. Onyema who was elated by the addition of the aircraft to Ibom Air fleet, said Nigerian carriers are getting stronger and stronger by the day, remarking that this is the first time in the history of aviation in Nigeria that different domestic carriers are ordering brand new equipment. He said that this signifies a new dawn for air transport in Nigeria, stating that with more fleet, Nigerian carriers would create more jobs for the citizens, contribute to the nation’s GDP and burnish their desire to become preeminent in the market, airlifting more Nigerian to local and international destinations at affordable airfares. “We are getting stronger and

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

stronger by the day. May God Almighty be praised in the highest for this feat and everything? May Ibom Air and, indeed, all indigenous airlines in Nigeria continue to prosper. These airlines have given means of livelihood to thousands of Nigerians who were hitherto unemployed. God will continue to support Nigerian carriers. I wish all of us permanent safe flights and permanent safe landings forever, in God’s name, amen, ”he said. The former Governor of Akwa Ibom state, Udom Emmanuel, the CEO Mfon Udom, and Chief Operating Officer (COO) of the airline, George Uriesi attended the handover ceremony at Airbus’s facility in Canada.

Meanwhile, Airbus executives, including President and CEO, Benoît Schultz, handed over the Airbus A220-300 to Ibom Air. He highlighted the aircraft’s global recognition for fuel efficiency, cutting-edge technology, and comfort. Ibom Air CEO, Mr. Mfon Udom emphasized the game-changing impact of the Airbus A220-300. He said it reinforces Ibom Air’s commitment to provide world-class services. “The introduction of the Airbus A220-300 to our fleet is a gamechanging leap forward for Ibom Air. Our commitment to invest in a fleet of efficient aircraft underscores our determination to provide world-class airline services,” he said

Vitafoam Group CEO Bags Multiple Awards for Excellence Group Managing Director and Chief Executive Officer of Vitafoam Nigeria Plc, Mr Taiwo Adeniyi has been crowned the CEO of the yearManufacturing, by Africa Safety Award for Excellence (AfriSAFE) in Lagos. The award, described by market watchers as the Grammy Award for manufacturers, celebrates outstanding individuals and organizations who have demonstrated total commitment to Quality, Safety, Community Social Responsibility (CSR) Projects and strong Sustainability Initiatives. The Award, the 5th in the series, recorded 18716 entries, of which only 105 were shortlisted across five African Countries. Adeniyi towered above his peers in all the adjudged metrics. Besides, Adeniyi had earlier clinched the Africa’s Manufacturing (Mattress/Foam) Brand CEO of the Year at the Africa Brand CEO Awards 2023, while Vitafoam, a frontline manufacturer of rigid foams and other household materials, under Adeniyi, had also won the Iconic Mattress Brand of the Year at the Brandcom Awards 2023.

In a Statement co-signed by the Publisher, Brand Communicator and Convener, Brandcom Awards and Project Co-ordinator, Brandcom Awards, Mr Joshua Ajayi and Jeremiah Agada respectively, the virtues of Vitafoam that placed the company ahead of the curve are explained: “Amongst all other nominated manufacturing companies, our distinguished panel of assessors made up of experts and seasoned marketing and communications professionals came to the conclusion that VITAFOAM stood head above shoulders among others in this category to emerge winner, considering that it has consistently delivered high-quality mattresses, captured the trust of consumers, and played a pivotal role in shaping the mattress market. It showcases the brand’s enduring legacy, commitment to sleep comfort and innovation, and its ability to meet or exceed industry standards.” Market watchers were quick to say that Vitafoam under the leadership of Adeniyi has consistently sustained high level of profitability and generous dividend policy.

Empowering Employees: Guide to Contributors’ Rights under CPS The Pension Reform Act 2014 (PRA 2014) protects employees’ rights, offering crucial protection, compensation, and support throughout their careers and retirement. These rights extend to all employees enrolled on the Contributory Pension Scheme (CPS). It is, therefore, crucial for both employees and employers to familiarise themselves with these rights to ensure compliance.

ENSURING THE RIGHT TO PENSION Section 3(1) of the PRA 2014 establishes a Contributory Pension Scheme for all employments in Nigeria. The scheme guarantees the payment of retirement benefits to covered employees. It applies to employment PENCOM DG, Aisha Dahir-Umar in the Public Service, Federal Capital PFA without interference from their employer Territory, States, Local Governments, and the or any third party. Private Sector. The PRA affirms the right of every employee covered under it to receive TIMELY REMITTANCE OF a pension. CONTRIBUTIONS Section 11(3)(a) and (b) emphasises the right of RIGHT TO EMPLOYER every covered employee to timely remittance of CONTRIBUTIONS contributions into their retirement savings account. Section 4(1) mandates employers to contribute Employers must remit employee and employer a minimum of 10 per cent, while employees contributions no later than seven working days contribute a minimum of eight per cent of their from the day the employee receives their salary. monthly emoluments to the pension scheme. The PRA defines monthly emoluments as basic salary, REGULAR INFORMATION ON housing, and transport allowances. Consequently, INVESTMENT STRATEGY AND every eligible employee has the right to the MARKET RETURNS employer’s contribution, a minimum of 10% Every participant in the CPS is entitled to of their monthly pay. regular updates on their PFA’s investment strategy, market returns, and performance indicators. GUARANTEEING LIFE Section 55(d) of the PRA 2014 mandates PFAs INSURANCE to furnish such information regularly to all RSA Section 4(5) prescribes that every employer holders. must maintain a Group Life Insurance Policy (GLIP) for each employee, amounting to three ACCESSIBLE CUSTOMER times the employee’s total annual emolument. SERVICE SUPPORT This provision ensures that employees are entitled RSA holders are entitled to customer service to life insurance coverage. Employers failing to support. Accordingly, all PFAs are mandated fulfil their payment obligations must arrange for to put in place structures that facilitate easy the settlement of claims arising from the death of access to services such as RSA update, 25% any staff. Furthermore, the Revised Guidelines on access due to job loss and request for RSA GLIP for Employees, under Section 5.5, reinforce statements. the importance of prominently displaying the GLIP certificate within employers’ premises. GUARANTEE OF PENSION

EMPOWERING RETIREMENT BENEFIT CHOICES Every employee covered under the PRA 2014 has the right to determine how to access their retirement benefits, whether through Programmed Withdrawal or Annuity. Section 7(1) specifies that a retirement savings account holder shall, upon retirement or upon reaching 50 years of age, choose between securing a Programmed Withdrawal or a Retiree Life Annuity. The retiree is also entitled to choose to take a lump sum or take higher periodic pension.

FREEDOM TO CHOOSE A PENSION FUND ADMINISTRATOR (PFA) Section 11(1) of the PRA 2014 grants employees the right to maintain an account with any Pension Fund Administrator. This provision ensures that employees can choose a

AND RETIREMENT BENEFITS

Employees have the right to receive their pensions and other retirement benefits upon retirement. This includes lump sum disbursements, periodic pension payments, and en bloc payments as the case may be. The PRA 2014 ensures the payment of these benefits, safeguarding the financial security of retirees. In conclusion, employees covered by the PRA 2014 are urged to observe and report any violations of these legal provisions. Regularly reviewing Retirement Savings Account (RSA) statements and reporting instances of nonremittance to the National Pension Commission (PenCom) are encouraged. Employees must verify their employers’ adherence to the Group Life Insurance Policy (GLIP). PenCom remains steadfast in its commitment to the effective regulation and supervision of Nigeria’s pension industry.

T H I S D AY ˾ MONDAY, NOVEMBER 27, 2023

BUSINESSWORLD

STATUS REPORT

Nestle: Loss Highlights Worst Performance in 10 Years Kayode Tokede

estle Nigeria Plc reported a modest growth in its revenue for nine months ended September 30, 2023 but the multinational company saw its cost of sales, finance cost and operating grew significantly. The 2023 financial year may probably be the worst performance of the company in over 10 years. The multinational Fast-Moving Consumer Goods (FCMG) company reported a loss before tax of N56.66 billion in nine months of 2023 from N58.39 billion profit before tax in nine months of 2022. Nestle Nigeria also reported a loss after tax of N43.07 billion in nine months of 2023 from N40.15 billion in nine months of 2022. In 2022 financial year, Nestle Nigeria declared N48.97 billion profit from N40.04 billion reported in 2021. In 2020, it reported N39.2 billion profit; N45.688 billion in 2019 and N43.01 billion in 2018. The Naira devaluation policy of the Central Bank of Nigeria (CBN), inflation rate and challenging business environment compounded to the FMCG’s profit losses in nine months of 2023, making it worst performance in over 10 years. As Nestle Nigeria declared N396.6 billion revenue in nine months of 2023, an increase of 19 per cent from N N333.5 billion in nine months of 2022, its outpaced 9.4 per cent growth in total Cost of Sales (CoS) that closed nine months of 2023 at N236.42 billion from N216.199 billion in nine months of 2021. The revenue generated in Nigeria was at N396.1 billion in nine months of 2023 from N330.6 billion in nine months of 2022, while export closed nine months of 2023 at N488.02 million, a decline of 83 per cent from N2.89 billion reported in nine months of 2022. ANALYSTS’ ASSESSMENT According to analysts at United Capital Research, “When the exchange rate of a country’s currency is high, its exports become more expensive, which can reduce demand for its products in the global market. This was quite evident in the 83.1per cent decline in the value of Nestlé’s exports (from N2.9billion to N488.0million) in nine months of 2023. “Nestle Nigeria’s top line expanded at a decent pace (+19 per cent) in nine months of 2023, with revenue from Nigeria accounting for 99.9per cent of the company’s total revenue (N396.6billion) for the period. Strong brand name and preference played a key role in the company’s recorded turnover rate. “Consumers remained willing to pay a premium for the company’s products. The company tilted more toward a cost optimization strategy, ramping up its local sourcing for raw materials. In June, the

food and beverages manufacturer disclosed that its businesses in Nigeria and other African countries have as a priority, increased local sourcing for starch and turmeric, which are key raw materials. “To that effect, Nestlé disclosed the replacement of imported corn starch with cassava starch (which will be locally sourced). It further disclosed it has invested in the growth and expansion of seven local suppliers, in terms of capacity expansion, to meet its supply needs and backward integration objective.” The company’s CoS/Revenue stood at 59.6 per cent in nine months of 2023 from 64.8per cent in nine months of 2022. However, gross profit closed nine months of 2023 at N160.17 billion, representing a growth of 37 per cent from N117.3 billion reported in nine months of 2022. From the loss and profit figure, Nestle Nigeria posted N68.58 billion total operating expenses in nine months of 2023, a growth of 31 per cent from N52.41 billion in nine months of 2022. OPERATING EXPENSES The breakdown of total operating expenses showed that marketing and distribution expenses stood at N58.88 billion, a growth of 36 per cent from N43.38 billion in nine months of 2022, while Administrative expenses moved from N9.03 billion in nine months of 2022 to N9.7 billion in nine months of 2022. The company recorded a significant 41.2per cent climb in its operating profit in nine months of 2023, from

Foundation Fetes Parents, Reaffirms Commitment to Magnanimity Gilbert Ekugbe Oyetty Foundation has reaffirmed commitment to supporting parents with children with special needs to achieve their goals and aspirations. The Founder, Oyetty Foundation, Oyetola Akande, at an event tagged, “Parents and Partners Hangout” explained that the foundation would stop at nothing to put smiles on the faces of special parents, restating the Foundation’s resolve to lighten the burden they may experience in raising children with special needs. In her words, “The Parents and partners hangout was to invite parents and children with special needs for registration and enrollment into the Foundation to support them in their different fields. We will be supporting them in business, education, trade and the likes. So this is just to know how we can come on board to work with them to achieve their God given talents.” She said: “We are here to treat and enlighten them with

distinguished speakers and also to encourage them as well. We also want them to know that they are not alone in this race.” According to her, the Foundation works with registered Foundations registered in Lagos State and some other foundations around in its quest to provide expert guidance and support for mental and psychological wellness, eliminate isolation and stressinduced depression, and build a community of special parents for mutual exchange and genuine care collaboration. “We have had people recommend parents to us as well because we know that it takes a while and it can be daunting and we are approaching individuals that we know we can help. People have been very good and open and they have made good promises that we hope they would come through on. So, we are just going to start with people around us first and we are also trusting God that he would make it happen,” she said. She said parents and

caregivers also forfeit their dreams, careers, goals and aspirations to care for these children. She stated,” Special parents are not what they have chosen to be, but because God has chosen them to be, but you are who you are first and you have an identity before having that special child. You are your own self first and be you first and most especially, look after yourself. You need to be alive and well to look after the child to ensure that whatever God has destined for the child must come into manifestation.” She advised special parents to welcome support from whoever gives, while also encouraging them not to give up the responsibility of taking care of their special children. “Although, it might seem insurmountable and feels like the end of the world, but it really is not because God is here to fill and he would see you through. We hope to do this once or three times in a year, “she said.

N64.9billion to N91.6 billion. Conversely, Nestle Nigeria recorded a whopping 1,625.8 per cent climb in finance cost to N156.53 billion in nine months of 2023 from N9.07 billion in nine months of 2022. The breakdown of finance cost showed that interest expense on financial liabilities stood at N29billion in nine months of 2023 from N7.38 billion in nine months of 2022 as net exchange gain on translation of foreign currency denominated balances moved from N1.69 billion in nine months of 2022 to N127.46 billion in nine months of 2023. OUTLOOK, INVESTMENT RECOMMENDATION Meanwhile, analysts as United Capital Research in their outlook for the company added that, “Looking ahead, we expect the Brewer’s revenue to continue to improve, growing by a Compound Annual Growth Rate (CAGR) of 26.7 per cent in the next five years, underpinned by the company’s

product superiority. As a result of the enormous foreign currency revaluation loss incurred by the company in nine months of 2023, the company’s bottom line for 2023 financial year is expected to be negative. “The elevated interest rate environment is also expected to place further strain on the company’s net finance income, underpinned by the company’s capital structure, as a highly levered manufacturer. Given the company’s cost optimization strategy, by ramping up its local sourcing for raw materials, we expect continuous improvement in its operating profit in 2024 financial year. “Also, FG and CBN’s moves to douse the pressure on the Naira via improving local supply of the Dollar, will continue to stand as an upside for manufacturers in the consumer goods sector. That said, based on earnings forecasts and valuation multiples, we project a target price of N1115.50/share. Investors may opt to HOLD the company’s shares for dividend and growth potentials.”

MONDAY, NOVEMBER 27, 2023 ˾ T H I S D AY

BUSINESSWORLD

NEWS

CEP FOR DIRECTORS OF BANKS…

L–R: Managing Director/CEO, Inlaks Computers Limited, Africa Operations, Kyari Abba Bukar; Managing Director/Chief Executive Oﬃcer, First City Monument Bank (FCMB), Yemisi Edun; Director, Financial Policy and Regulation Department, Central Bank of Nigeria (CBN), Chibuzo A. Efobi; Managing Director/Chief Executive Oﬃcer, Financial Institutions Training Centre (FITC), Chizor Malize and Founder & Chairman, Phillips Consulting Limited, Foluso Philips at the 2023 edition of the CBN-FITC Continuous Education Programme (CEP), for Directors of Banks and Other Financial Institutions which held in Lagos… recently

NIPOST Raids 32 Unlicenced Courier Operators in Lagos Emma Okonji The combined enforcement team of the Courier and Logistics Regulatory Department (CLRD) of the Nigerian Postal Service (NIPOST), and the police from the Force Criminal Investigation Department Alagbon (FCID), has commenced its fourth quarter enforcement operation nationwide, beginning from Lagos State. The team, at the weekend clamped down on over 32 unlicensed courier operators in Lagos and made some arrests. During the raid, which lasted for hours, some unregistered and unlicensed operators of courier and logistics services were arrested and handed over to the FCID for prosecution proceedings, which commenced the same day of the Lagos clampdown. Some items used for illegal

courier operations such as motorbikes, waybills, inventory books, among others were seized and those arrested were charged for offences, which borders on economic sabotage, unethical sharp practices, illegal operations and conspiracy. Addressing the media shortly after the clampdown, the General Manager, CLRD, Mr. Gideon Dotun Shonde, said the clampdown was in line with Enforcement Operation of the NIPOST ACT, CAP N127 Laws of the federation, with the support from the Postmaster General of the Federation, Ms Tola Odeyemi, who gave the directive for the clampdown, in order to sanitise the Courier and Logistics sector of the Nigerian economy, which according to him, is losing billions of naira to illegal operators across the country. “The objective of the on-going nationwide enforcement exercise

is to sanitise the postal sector, which has been infiltrated by quacks and unethical practices by unregistered, unlicensed and illegal operators nationwide. The unlicensed operators are involved in unethical sharp practices, such as price undercutting, pilfering, broaching, damage, and dumping of items, including obtaining money from customers under false pretenses, and they do not have traceable office addresses, with no registered brand names. “Similarly, there are established cases of overloading and carriages of items above the stipulated 50KG, which has increased public disdain towards the noble profession, threatened the safety of other road users and poses a security threat on Nigerians, and these are quite worrisome, ”Shonde said.

Lagos Lists N115bn Bond on Nigerian Exchange Kayode Tokede The Nigerian Exchange Limited (NGX) has admitted the listing of Lagos State Government (LASG) N115 billion series I, 10-year 15.25% fixed rate bond due 2033 under the N1 trillion debt and hybrid instruments issuance (DAHI) program on the bourse. A total of 115,000,000 units of LASG bond is valued at N115billion were listed at issued price of N1,000 per unit. The rental on the Bond is 15.25per cent, payable bi-annually on May 23 and November 23. Maturity date is May 23, 2033. The state governor, Mr. Babajide Sanwo Olu at the agreement signing ceremony of the N115billion 2033 Bond Issuance at 15.25% interest rate and a seven-year N19.815 billion Sukuk Issuance at 14.675% interest said the state would invest more in education, health, and roads with the proceeds from its 10 and seven years Bond and Sukuk issuance. Sanwo-Olu’s administration had earmarked a N500 billion Bond issuance to develop the state, out of which N100 billion and N137 billion was issued in 2020 and 2021. The State Government in October listed its Lagos State Infrastructure Sukuk SPV Plc, a special purpose vehicle of the LASG, worth about N19.82 billion 14.675 per cent Series II Fixed Return Forward Ijarah Sukuk on the NGX. The net proceeds of the Sukuk issuance would be used to finance

the construction and rehabilitation of the Awoyaya section of the Eti-Osa-Lekki-Epe Expressway. The Sukuk was rated ‘Aa’ and ‘Aa-‘ by Agusto & Co. and Global Credit Rating (GCR), with the ratings alluding to the

state’s resilient financial condition, robust financial flexibility, suitable expenditure profile and very strong cash-generating capacity to meet local currency obligations in timely from Internally Generated Revenues (IGR).

Access Bank Partners ASOLAR to Power Up Nigerian SMEs, Rural Communities

Nume Ekeghe

Access Bank Plc, has partnered with Asolar to launch a green energy solution to tackle power supply challenges faced by small and medium enterprises and rural communities across the country. The products, which included solar-powered TV sets, Air Conditioners, and PoS machines, among many others, were launched in Abuja recently. In a statement, the Access Bank Deputy Managing Director, Victor Etuokwu, noted the inconsistent power supply has become a major obstacle to businesses and livelihoods in the country and Represented by the bank’s Director of Regional Services, Neka Adogu, Mr Etuokwu said the initiative was aimed at promoting financial inclusion in rural areas. He said: “This inconsistent power supply poses a substantial challenge for small and medium enterprises [SMEs] as well as initiatives aimed at promoting financial inclusion in

rural areas, which is considered a yardstick for economic growth in Nigeria. “Currently, in Nigeria, owners of SMEs and people living in rural communities with no or little power supply, spend huge sums in procuring generating sets, purchasing fuel, and the maintenance of generators to operate their business successfully.” In his remarks, the Chief Executive Officer of Asolar, Hakeem Shagaya, said the company was committed to ensuring every citizen has access to reliable and sustainable energy across the country. While appreciating the management of the bank for the collaboration, Mr Shagaya noted that the initiative was in line with the sustainable development goals on clean and renewable energy. Speaking, Group Head, Financial Inclusion, Access Bank Plc, Chizoba Iheme disclosed that the bank has over 300,000 Access agents across the country to facilitate the distribution across Nigeria.

27 4

T H I S D AY

MONDAY NOVEMBER 27, 2023

EDITORIAL

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

COST OF DRUGS AND HEALTHCARE DELIVERY Drugs are increasingly getting out of reach. The authorities should please help out

spending, who is getting it, and if there is deviation erhaps no critical sector has been from what one is supposed to be achieving what impacted by the astronomical hike in happens? Accountability is very important,” the prices of goods and services in the said health expert, Gafar Alawode, who recently country like the health sector. From highlighted the low insurance coverage penetration common illnesses like malaria fever and in the country. headache to chronic ones like high blood As we noted when the NHIS was signed into law, pressure, diabetes, kidney, and liver diseases, most of the bulk of the work lies in its implementation. The the medications are being priced beyond the reach of repealed NHIS could not grow the scheme beyond the average Nigerian. For some of the drugs, which ÀYH SHU FHQW RI WKH SRSXODWLRQ GXH WR ODFN RI SROLWLFDO are being imported, prices have skyrocketed by as will. As a result, the country was losing hundreds of many as 200 per cent. The Coordinating Minister thousands of its citizens yearly due to inability to of Health and Social Welfare, Mohammed Pate, has pay out- of - pocket expenses for their healthcare. his job cut out for him as he seeks a solution to the 7KH GHÀQLQJ WURXEOH ZLWK 1+,6 DW WKH WLPH ZDV challenge. the system-wide inequalities in its implementation, We endorse the reduction of duties on drugs including the lack of and other ideas being cohesion between the suggested in some federal scheme and the professional quarters to ones promoted by some Out-of-pocket spending on health is less than ideal, especially in these address the situation. of the 36 states, private But we are also aware tough times when many families are more concerned about where the sector, and healthcare that it is always a providers. challenge paying for next meal would come from The NHIA, in drugs out- of - pocket, collaboration with state even when prices are governments, private low or stable. Therefore, sector, healthcare T H I S D AY the only sustainable solution lies in implementing providers, among others must collaborate to ensure EDITOR SHAKA MOMODU the mandatory Universal Health Coverage (UCH), DEPUTY EDITORS WALE OLALEYE that every Nigerian - from the formal to informal including the social component for the aged, retirees MANAGING DIRECTOR ENIOLA BELLO sector, to the unemployed, and other bodies - is and the unemployed. Out- of- pocket spending on DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU enrolled into health insurance schemes. With UCH health is less than ideal, especially in these tough CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI as the goal, all tiers of government, healthcare EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN times when many families are more concerned providers and the various schemes must work THE OMBUDSMAN KAYODE KOMOLAFE about where the next meal would come from. together in the interest of Nigerians. Although many countries, including Rwanda and 7KH EHQHÀWV RI D KHDOWK LQVXUDQFH VFKHPH WKDW Ghana, have recorded successes in UHC, it took works in a country like ours are many. One, the 1LJHULD \HDUV DIWHU ÀUVW HVWDEOLVKLQJ WKH 1DWLRQDO idea of cashless treatment for those insured makes Health Insurance Scheme (NHIS) to own a document T H I S D AY N E W S PA P E R S L I M I T E D it imperative for them to get immediate treatment EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA that now mandates every citizen to be enrolled into during sudden ill-health while the premium paid GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, an insurance programme for their future health ISRAEL IWEGBU, EMMANUEL EFENI on health insurance is usually tax deductible. But needs. Last year, former President Buhari described DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, only a small proportion of Nigerians have prepaid the scheme as a path towards providing universal ANTHONY OGEDENGBE KHDOWK FDUH 7KH HͿHFWLYHQHVV RI D 8&+ ZRXOG EH health for at least 83 million poor Nigerians who DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI strengthened with the inclusion of 36 states into the SNR. ASSOCIATE DIRECTOR ERIC OJEH FDQQRW DͿRUG WR SD\ SUHPLXP %XW VWDNHKROGHUV LQ scheme and getting them to setup and manage their ASSOCIATE DIRECTOR PATRICK EIMIUHI the health sector still express concerns that there are own insurance schemes in line with the provisions huge gaps to cover if Nigeria is to attain UHC. “We CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO of the law. need to have a metric in terms of how much we are TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com

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

LETTERS AHMADU FINTIRI AND THE NORTHEAST GOVERNORS $OO ÀYH 1RUWKHDVW JRYHUQRUV ZKR FRQYHUJHG LQ *RYHUQPHQW House Yola on November 24 - 25, 2023, on their way from the Lamido Aliyu Mustafa International Airport Yola are the Governor Ahmadu Umaru Fintiri’s unique selling points as Governor of Adamawa State. The Lamido Aliyu Mustafa Flyover and WKH ÀUVW JUHDW LQWHUFKDQJH LQ WKH QRUWKHDVW PDVVLYH EXVLQHVV DFWLYLWLHV DORQJ WKH *DODGLPD $PLQX :D\ FRXUWHV\ RI WKH SHDFH EHLQJ HQMR\HG LQ $GDPDZD DQG WKH VRFLDO investment of the Fintiri government, the new roads that link Atiku Abubaka Way, Justice Buba Ardo Way, and Ahmadu Bello Way, the bubbling students’ activities at the Adamawa State Polytechnic, and the coordinated movements of the Fresh Air 1HZ 0HWUR %XVHV 7KHVH DFWLYLWLHV GHÀQH )LQWLUL·V VW\OH RI DGministration: urban renewal, human capital development, and using today’s resources to cater for tomorrow’s needs while distinguishing the needs and wants of the entire people of Adamawa. The 9th Northeast Governor Forum in Yola came at the right WLPH LQ $GDPDZD ZKLOH LWV FRPPXQLTXp UHÁHFWHG WKH QHHGV RI the region while taking cognizance of the peculiarities of each of the six states. In his opening remarks, Gov. Fintiri said the governors are committed to the course of the Northeast Gover-

nors’ Forum, which is to work to develop long- and short-term strategies and capacity-building solutions for meeting both the present and future challenges in the region. Governor Fintiri also said they’re united by their common challenge of low-rated economic development indices. However, most development experts said the Northeast governors are gradually and collectively winning the war against their common challenges: %RNR +DUDP LQVXUJHQF\ EDQGLWU\ IDUPHU KHUGHU FRQÁLFW RXW of-school children, poverty, illegal mining, kidnapping, unemployment, and deforestation. The governors have put the PHUFKDQW RI FRQÁLFW RXW RI EXVLQHVV EHFDXVH WKH ,'3 FDPSV LQ the region are getting empty day by day, pupils are returning to school, farmers have returned to their farms, and most communities have returned to their earlier peaceful social settings, with more opportunities being opened for people to enhance their wellbeing. The Northeast governors are engaging critical stakeholdHUV IRU WKH GHYHORSPHQW RI WKH UHJLRQ LQ WKHLU HͿRUWV WR VWDQG together and move together to put the six states on the right pedestal of development. A simple example is Adamawa State, where Governor Fintiri was able to change the ugly narratives in the area of social order in the post-insurgency period. For in-

stance, the Fintiri Wallet, a social investment programme providing capital for small businesses among youth and women, has successfully freed many families from the prison of poverty and provided productive jobs to young people and women, esSHFLDOO\ LQ WKH DUHDV DͿHFWHG E\ WKH LQVXUJHQF\ The First Northeast Governors Forum meeting took place in Gombe in 2020, and the forum has consequently produced encouraging results indicating the worthiness of this course. Now the northeast speaks with one loud, clear voice and is being heard. In Yola, the six governors resolved to continue cooperDWLRQ DPRQJ WKH VL[ VWDWHV DQG ÀJKW FOLPDWH DQG HQYLURQPHQtal degradation. The governors call on the Federal Ministry of Works and relevant federal agencies to look at the poor federal infrastructure and energy in the region. They resolved to build 60 and 50 megawatts of coal and solar power plants in each of the six states. The governors appreciated the improved security situation in the region and resolved to work together and cooperate with all security agencies in the design of the security architecture in the region. Zayyad I. Muhammad, Abuja

MONDAY NOVEMBER 27, 2023 • T H I S D AY

T H I S D AY ˾ MONDAY, NOVEMBER 27, 2023

HOMES&DESIGN

Irele Tower, Green Building Planned to Perfection In line with its strategic business thrust of promoting ease of doing business in Nigeria, Lagos Free Zone, Nigeria’s first privately owned free trade zone and the most preferred investment destination, is currently building its first commercial tower in the zone named Irele Tower to provide world-class office spaces. Bennett Oghifo writes

rele Tower is an architectural masterpiece with features and designs that set it apart. Irele means humility in Yoruba, representing the organisation’s value and respect for local culture and language. Its breathtaking features, facilities, location and design not only make it “planned to perfection” but stamp on it the enviable catchphrase by its promoters ‘Where Ambition Meets Advantage’. It is indeed a lofty ambition to own office space at Irele Tower, which offers panoramic views of Lekki Deep Sea Port and where the address symbolises a gateway to a world of access and opportunity with banks and global manufacturers in proximity, making it an excellent location for port-related service providers and businesses to flourish with every need duly taken care of. Also, the availability of modern amenities and best-in-class services makes it a workplace ready for all types of businesses. Standing magnificently at nine storeys, the design concept of a maritime building akin to a stack of containers representing its proximity to the deep seaport is the first clue of the wonder that awaits you. The design features are exceptional, with striking details like the inclined perforated bio-wall screen enveloping the parking floors, which allows

for natural ventilation reflective of a solid commitment to sustainability. The micro-climatic spaces on each office floor function like green pockets, allowing for daylight optimisation, natural ventilation and breakout space for the tenants. In the sophistication of its luxury is the abundance of space with a rooftop cafeteria, six floors of office space, two levels of parking space, one Mezzanine floor, one floor for retail outlets, and a large external car park. We also have a ground floor, home to a world-class reception that leads to various offices. Yet, there is room for more in the provision of shared workspace and a setup for immediate and short-term work needs perfect for remote employees, freelancers, gig workers, consultants and anyone else needing a workspace. It is not all work and no play at Irele Towers. The welcoming ambience of the rooftop terrace and café unlocks relaxation on a whole new level. The cafeteria, occupying 867 sqm and surrounded by lush greenery, offers delicious meals and great views, making it a great place to relax, bond and unwind as you grab a bite. As an EDGE-certified green building,

the tower is resource-efficient for both the occupants and the environment, thereby leading them to preliminary savings in Energy (20%), Materials (30%), and Water (75%). EDGE is a green building certification system focused on making buildings more resource efficient, primarily focusing on energy efficiency, water efficiency, indoor environmental quality, materials and resources. An innovation of IFC, a member of the World Bank Group, EDGE empowers emerging markets to scale up resource-efficient buildings quickly, easily and affordably. At Irele Towers, you will always have access. The tower is equipped with round-the-clock facilities, including but not limited to security, power and water supply, standby maintenance team, three elevators, and two staircases. The safety of occupants has been prioritised with a world-class firefighting and evacuation management system. The completion of Irele Tower is scheduled for January 2024, and with each passing day, the project is reaching new heights. As it nears completion, the tower is preparing to

offer unhindered access to business and infrastructure at the heart of Nigeria’s growth capital - Lagos. Established in 2012, Lagos Free Zone (LFZ) is a unique and award-winning port-based industrial zone (850 hectares) in Lagos, Nigeria, with over $2.5 billion committed FDI projects to date. Owned and promoted by Tolaram, LFZ is located in Lekki, the sunrise development corridor in Lagos. Our vision is to be the preferred industrial hub in West Africa with world-class infrastructure, serving global brands like BASF, Kellogg’s, Colgate, Arla, Dufil, and Lekki Port, among others, as our current tenants. Lekki Port, which started Phase I commercial operations in April 2023, is Nigeria’s first deep sea port with a draft depth of 16.5 meters. Located within the Lagos Free Zone, Lekki Port is equipped with modern ship-to-shore cranes and handling equipment and can handle container vessels of up to 18,000 TEUs capacity. It is a multi-purpose port designed to handle container, dry and liquid bulk cargo, including two container berths with a combined capacity of handling 1.2 million TEUs per annum.

MONDAY, NOVEMBER 27, 2023 ˾ T H I S D AY

BUSINESSSPECIAL

Editor: Goddy Egene goddy.egene@thisdaylive.com 0803 350 6821

O s s a i : D o m e s t i c , I n d u s t r i a l Wa s t e Management Must Be Given More Attention The Initiates Plc, which got listed on the Nigerian Exchange (NGX) in 2016 remains the only utility services company rendering waste management and industrial cleaning services on the exchange. The Managing Director of the company, Mr. Reuben Ossai spoke to Goddy Egene on the journey so far, climate change, waste management and other sundry issues. Excerpts: The Initiates Plc got listing on the Nigerian Exchange in 2017. Six years on, how has the experience been? he Initiates Plc (TIP) got listed on Nigerian Exchange (NGX) about seven years ago precisely on the 25th of October 2016 and till date remains the only utility services company rendering waste management and industrial cleaning services. The listing cannot be described as a failure but that of mixed outcomes: fulfilling and at the same time disappointing. We got listed almost at the time the market was in turbulence: when stock witnessed a serious drop in public acceptance as an investment outlet. This was what greeted our enthusiasm, and despite our five years on-a- roll payment of dividend, our share price never got the impact. On the other hand, TIP has used the machineries of both Securities and Exchange Commission (SEC) and NGX to greatly improve our governance, reporting standards, and above all increased her visibility. TIP has capitalised on this, to venture into East Africa Oil & Gas sector with a 40 per cent ownership of a Ugandan Company trading with our name (The Initiatives UG Limited). This company with two other local companies are currently executing a 4-year construction phase Waste Management contract for Total Energies in Uganda. The impact of this investment on TIP is indicatively phenomena as the company is projected to be worth $10million in the next five years.

management facilities. Speciﬁcally, how does The Initiates Plc handle waste management and how is this helping your clients? TIP is a one-stop-shop for waste management. It may be necessary to note here that TIP started as a consultancy firm before incorporating contracting services, so we do all in TIP including advising our clients. TIP’s principal focus is to ensure that her client risks (legal, social and environmental) are eliminated or mitigated for a successful business journey. Specifically, we ensure proper transfer of custody of the waste (ensuring traceability) after screening to know, if we have capacity to handle it. Those we do not have capacity to handle, we reject or through our extensive international network consign such out (using appropriate legal documents). Within TIP facilities, accepted consignments are sent to different lines which include (incineration, desorption, wastewater treatment, fixation and e-waste) for treatment/processing.

Would you say the dreams and aspirations of going public and getting listed on the NGX have been met? Our expectations from the market have not principally been realised however, we see the market as a strategic platform for positioning our dream and vision for investors’ confidence. In this respect, our destination is not too far away going by the wave of changes in waste management subsector (where we are): the challenge is becoming more pronounced; the populace is demanding greater attention for environmental cleanliness; and above all, governments all over have realised the relationship between waste management and health, energy security and economic prosperity. Again, in our last seven years in the market, we have built a company that has a defined entrepreneurial concept (targeted at providing waste management solution to the society), and growth trajectory that will sustain investors’ return on investment. Your company play in the environment and waste management space, how would you rate current Nigerian situation in terms of laws and policies to ensure we have a sustainable environment in the face of climate change challenges? TIP business space is precisely defined not only by public desire for cleanliness but veritable Laws and regulations. It is so because of the cultural conception of waste as that without value and nothing must be spent on it. Therefore Law plays a very pivotal role in defining the commercial value of waste management services. Incidentally Governments have not been helpful. There is no definitive framework structure for waste and its management services. Tthe existing haphazard legislations lack clarity and the policies so far tends to be gravitating around international tendencies without any pragmatic specifics. Everybody is now anxious for solution and governments are seeking solutions especially as the impact of climate change ruddily confronts us as flooding, adverse weather and so on. This stimulus is beginning to open up our business space also heralding new laws like the professionalisation of Environmental Practice in Nigeria (Act 41 of 2023) and many others in the pipeline .It is evidently clear that in the

Ossai coming years, our business space shall be well constructed and our service will earn commensurable commercial value. TIP as a player already in the market with standards is well positioned as the investors’ choice when the bell is sound not too long from now. While Government is making efforts to ensure the country and its people suffer minimal impact of global climate change, how can individuals and companies contribute to ensure success government’s plans and policies? Climate change is a product of poor emission (waste) management and the impact can also be exacerbated by poor solid waste management in multi-dimension. Open burning, dumpsite, wastewater and agricultural waste contribute over 27 per cent of world global greenhouse gases emission. Also, uncontrolled solid waste has evidently block drains leading to massive flooding, blurred the beaches, and defaced the marine environment. These contributory factors of climate change and impact have individuals and organizations at the centre. Individuals and organisations have reasonable roles in mitigating the impact. Critical is reduction of gaseous emission from transportation, gas flaring, processes (including waste management), and good waste management practice. This includes consigning waste to standard facility for management not dumping of waste in urban spaces or drains. Greening our environment with trees and flowers can also benefit us in this regard. How is The Initiates Plc deploying its expertise and contribute in this regard? TIP has greatly deployed its expertise in providing waste management and industrial

cleaning solutions to a host of her clients including Shell, Seplat, Mobil, Eko Disco, NNPC, NLNG and others. The services range from international disposal of asbestos waste, processing of E-Waste, treatment of oily sludge, pyrophoric waste, drill cuttings, and Industrial plant (Power, Gas &Marine vessels), Crude Storage tanks and FPSO. TIP has also been in the forefront of waste management professionalisation. In this respect, TIP has tremendously contributed to setting up and the sustenance of Waste Management Society of Nigeria, a non-governmental professional association recently recognised by Nigerian Government through the Act 41(2023) of the National Assembly). The objective here is to grow manpower for the emerging waste management industry, and develop guidelines in alignment with international standard for Nigeria. Waste management, in whichever form is a big challenge in Nigeria, how can we tackle this challenge? Waste management is not just physical problem but a challenge of our economy. The solution is not farfetched but needs to be society rooted, driven by the private sector with governments creating a robust business environment through enactment of laws that can stimulate private sector investment in the industry. Dire to the survival of the industry is enforcement which must be two directional: government pulling the legal string and the professional bodies pulling the ethical string. Society must recognise that waste it generates is their responsibility, and its management must be paid for. On the other hand, the media must reconstruct waste as a result of our social endeavour and must be managed within our space not in the moon: therefore they should not criminalise waste manager or waste

Given the array of your clientele, most of which play in the oil and gas sector and as an indigenous company, how are able to successfully service them? Currently we are playing in the Oil & Gas sector. However, our subsisting strategy projects earning about 40 per cent of her revenue from non-oil & gas subsector of hazardous waste market in Nigeria by 2030. This subsector is worth over $160million annually. Generally speaking, Oil & Gas industry as we know is driven by standard and operating in the sector as a waste manager demands not only standard but strict control. This, TIP has accepted and all our operations are subjected to multifaceted control from not only our clients but regulators from two principal backgrounds. Sustaining our clients to us, is delivering services (mostly bespoke) with sustained confidence based on compliance. What are your plans for the next ﬁve years, in terms of operations and company’s performance? TIP is in her decade of consolidation and diversification (strategy) after the formation and establishment decades. The strategy for this decade has identified an aspect of maintenance (industrial cleaning) as a key business channel in the aging Nigerian Oil & Gas sector. Also, public solid and liquid waste management are included in TIP diversification targets, with a view to improving her revenue from non-oil & gas sector. The company has made over N1.5billion investment in industrial cleaning assets including: Non-man-entry Storage Tank cleaning Robot, Pipe and Covered drainage cleaning Rotocar, Solar Panel & Heat Exchanger Fin automatic cleaning system. During this period too, TIP will be establishing an operational Base in west of the Niger and grow business in East Africa Oil & Gas sector. The foundation of these has been laid. These include: prospecting for municipal waste management from three state governments (likely to have the first shot by 2024); preliminary investment in a pioneering waste management company in Uganda Oil & Gas sector (commenced operation in 2023); Heavy investment in industrial cleaning (already secured projects for 2022 to 2025); and development of western operation Base in Kwale, Delta State (this is on and shall commence operation by end of 2023.) What is your last ﬁnal message to all your stakeholders? As the Managing Director of TIP, I want to sound conservatively hopeful for the future of the company based on the discussed strategy, and would like to promise our stakeholders good results going forward.

T H I S D AY ˾ MONDAY, NOVEMBER 27, 2023

BUSINESS SPECIAL

ANALYSIS

Understanding Dangiwa’s Bold Housing and Urban Development Action Plan Mark Chieshe

million housing units in Nigeria were deemed sub-standard. Addressing Nigeria’s housing challenge therefore requires a combination of urban renewal or housing upgrade initiatives and the construction of new homes to meet the growing population’s needs. Aligned with this perspective, Dangiwa has proposed an ambitious plan to initiate a Nationwide Urban Renewal and Slum Upgrading Program. The goal is to enhance living conditions in Nigeria’s urban areas, transforming informal settlements into integrated, vibrant neighborhoods equipped with essential services, thereby curbing the proliferation of slums. In the program’s initial phase, the Ministry aims to upgrade a total of 26 slums across the country’s six regions, including the Federal Capital Territory. This initiative intends to provide vital infrastructure and supplementary services such as access roads, water supply, solar streetlights, drainage systems, sanitation, waste management services, and more. These improvements aim to enhance the living standards of slum residents in the project sites and uplift the urban poor in general.

r. Ahmed Musa Dangiwa has taken bold and transformative steps, placing him on a course to justify the confidence of President Bola Ahmed Tinubu and the optimism and expectations of stakeholders in the housing industry since his appointment as the Minister of Housing and Urban Development. At various forums and events, Dangiwa has been consistently clear, focused, and visionary in outlining the strategic and targeted plans of the Ministry under his leadership for housing and urban development. These plans encompass several key initiatives. They involve implementing land reforms to streamline land administration, enhancing the institutional capacity of federal government agencies such as the Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA). Furthermore, they include increasing housing supply through a multi-agency delivery mechanism, initiating new city developments via Renewed Hope Cities and Estates, and launching a nationwide urban renewal and slum upgrading program. Other initiatives are the establishment of building materials manufacturing hubs one in each of the six regions to reduce imports, generate employment opportunities, enhance affordability in housing delivery, and the creation of a National Social Housing Fund (NHSF) to facilitate access to decent shelter for low-income, NO Income, and vulnerable groups. In this series, our objective is to provide a detailed analysis of each of these plans, commencing with an in-depth exploration of the new city development and the national urban renewal and slum upgrade program.

THE DANGIWA BLENDED HOUSING AND URBAN DEVELOPMENT FINANCING PLAN

NEW CITY DEVELOPMENT

Under this plan, the Minister aims to lead partnerships with the private sector, local and international investors, towards redefining the concept of cities in Nigeria and decongesting city canters and state capitals. The first phase of the New City Development Plan aims to deliver Renewed Hope Cities ranging from 1,000 housing units per site in one location in each of the six geo-political zones of the country and FCT namely: Abuja, Lagos, Kano, Borno, Nasarawa, Rivers, and Enugu States, while the remaining 30 States will have Renewed Hope Estates each with a minimum of 500 housing units. The Renewed Hope Cities will prioritise inclusivity by featuring Multi-Level Flats catering to low to medium-income earners, Terrace and Detached Bungalows, and Duplexes tailored for high-income earners. Conversely, the Renewed Hope Estates will offer 1, 2, and 3-bedroom affordable bungalows. Overall, the Ministry aims to deliver a total of 34,500 homes in phase 1, funded by a mix of sponsors including the budgetary allocation of the Federal Ministry of Housing and Urban Development, the Federal Mortgage Bank of Nigeria (FMBN), and through Public-Private Partnerships with reputable developers. With an estimated creation of 25 jobs per unit, the first phase of the project is projected to generate both direct and indirect employment, totaling 862,500 jobs, thereby contributing to the Renewed Hope Vision of lifting 100 million Nigerians out of poverty. To ensure the affordability and prompt uptake of these houses by Nigerians, the Ministry of Housing and Urban Development, led by Ahmed Musa Dangiwa, has outlined a diverse mix of ownership options for potential beneficiaries: Firstly, mortgage loans will be offered. For low-income earners, the Ministry intends to promote the adoption of the range of affordable housing products provided by the Federal Mortgage Bank of Nigeria (FMBN). This will enable beneficiaries to access single mortgage loans payable over 30 years using the FMBN NHF Mortgage loan window. For high-income earners seeking homes beyond the scope offered by the FMBN, the Ministry plans to promote the use of alternative homeownership options provided by the Primary Mortgage Banks and the mechanisms of the Nigeria Mortgage Refinance Company (NMRC). This approach will facilitate access to home loans at commercial rates for these beneficiaries. Another option available to potential beneficiaries is Rent-to-Own. This FMBN product allows beneficiaries to move into the Bank’s funded properties without making an equity payment. They can then make payments in monthly, quarterly, or annual instalments towards ownership. The payback period extends to a

Dangiwa maximum of 30 years, depending on age or years in service, at a single-digit interest rate of seven percent. With this broad mix of affordability options, individuals within the low- and mediumincome brackets as well as high-income earners will have a wide array of convenient homeownership choices available to them. For sustainability, Dangiwa is spearheading engagements with State Governments and relevant Ministries to ensure speedy access to land in good and viable locations with verifiable demand and adequate infrastructure for the Renewed Hope & Estates project sites. He has already written letters to all State Governments, requesting a minimum of 50 hectares of land either as a contiguous plot or a split of 25 hectares in two locations for establishing the estates, as part of their contribution to affordable housing delivery for their citizens. The Minister has emphasised the necessity for land for planned project sites to be in accessible locations, and State governments must commit to providing the requisite infrastructure to make the estates appealing to potential owners. Discussions are also underway with the Federal Ministry of Works, Transportation, FCT, and Power to guarantee easy and cost-effective infrastructure access and transportation links for the Renewed Hope Cities and Estates to the main city centers through roads or rail networks, aiming to reduce commuting time and open the places up to decongest city centers.

A ZERO-TOLERANCE POLICY FOR ABANDONED HOUSING PROJECTS

In addition to the Renewed Hope Cities and Estates, the Honorable Minister of Housing and Urban Development has devised a Zero Tolerance Policy for Abandoned Projects. Under this policy, Dangiwa aims to ensure the completion of all housing projects initiated by the Ministry and agencies under its supervision. This encompasses projects under the Ministry’s National Housing Programme (NHP), the Federal Mortgage Bank of Nigeria (FMBN),

and the Federal Housing Authority (FHA). Given the backdrop of high inflationary trends and the rising cost of building materials, the Honorable Minister has established a Task Team within the Ministry to review contracts for all unfinished NHP housing projects. The objective is to redefine the scope of these projects in order to reduce the required costs for completion. Another aspect of this review involves evaluating the technical and financial capabilities of the contractors, intending to potentially cancel contracts and re-award them to more competent and reputable developers. The Minister is also cognisant of completed projects situated in inaccessible locations. Recognising the lack of proper diligence, pre-project housing demand mapping, and proactive plans for access and infrastructure to ensure swift uptake of projects upon completion, he is exploring a range of options to safeguard government investment. These measures include engaging relevant States where the projects are situated to provide access roads, electricity, and infrastructure, as well as considering bulk sales to government entities, among others. The overarching goal is to recover as much as possible from the multi-billion-naira investment into the National Housing Programme, redirecting these funds into other more strategic and affordable housing projects.

NATIONWIDE URBAN RENEWAL AND SLUM UPGRADING PROGRAM

Dangiwa, acknowledges that, like many developing economies, Nigeria faces challenges in providing decent and affordable housing for its citizens. He recognises the country’s dual challenge of insufficient housing supply to meet its burgeoning population growth and the prevalence of sub-standard housing, failing to meet the conditions of habitability, safety, security, comfort, sanitation, accessibility, infrastructure, social amenities, and socio-cultural adequacy as outlined by the United Nations and World Health Organisation (WHO). According to PwC analysis in 2019, 75 per cent (31.60 million) of the 42.00

Funding these projects will undoubtedly require a substantial financial commitment, involving hundreds of billions of naira. This necessity is amplified by the current high inflationary trends, which have significantly increased the cost of building materials, consequently elevating the expenses associated with housing delivery. To illustrate, even with an estimated rough average of N10 million per unit for the 34,500 homes planned in phase 1 of the Renewed Hope Cities and Estates, it will amount to approximately N345 billion to deliver these units. The various house types, each with different pricing, include multi-level flats catering to low to mediumincome earners, terrace/detached bungalows and duplexes for high-income earners, and bungalows for low-income earners. This underlines the importance of the Minister’s inclusive and integrated approach, which aims to introduce cross subsidies to enhance affordability for low- and medium-income earners. Specifically, these options include increased budgetary allocations, fostering Public-Private Partnerships and optimising the financial capacities of agencies under the Ministry to sponsor a significant portion of these projects. On the budgetary front, Dangiwa has already secured a major win to kickstart the Renewed Hope Cities/Estates and the National Urban Renewal and Slum Upgrading Program. Recently the Hon. Minister facilitated the inclusion of N100 billion in the 2023 Supplementary budget, recently passed and signed into law by Tinubu. Preliminary works are underway and the Minister intends to commence the projects before the end of the year. Additionally, the Minister aims to maximise existing partnerships with international development finance institutions to bolster the pool of resources available to drive his agenda for housing and urban development. To this end, he has conducted preliminary meetings with delegations from the World Bank Group, the International Finance Corporation, the UN Habitat, and the Shelter Afrique Development Bank, where he currently holds the position of AGM Bureau Chief. Following these meetings, the Minister has established a Ministerial Technical Taskforce with a mandate to develop actionable frameworks that would lead to the signing of strategic financial and technical partnership agreements with these international development finance institutions. “These international financial institutions are vital sources of financial and technical assistance in our pursuit to realise Mr. President’s Renewed Hope Agenda. Ensuring their expansion, maximisation, and leveraging in ways not done before to successfully implement the Ministry’s Action Plan is a TOP PRIORITY of my administration,” he emphasised. With every action, every meeting and engagement, the Hon. Minister of Housing and Urban Development, Ahmed Musa Dangiwa is showing uncommon commitment to actualising the Renewed Hope Vision for housing and urban Development. He deserves the support of local and international stakeholders who are committed to driving affordable housing delivery and sustainable urban development. t $IJFTIF 4QFDJBM "TTJTUBOU UP UIF .JOJTUFS PG )PVTJOH BOE 6SCBO %FWFMPQNFOU NDIJFTIF!HNBJM DPN

MONDAY, NOVEMBER 27, 2023 • T H I S D AY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 23Nov-2023, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 288.34 288.34 52.96% Afrinvest Plutus Fund 100.00 100.00 9.22% Nigeria International Debt Fund 343.21 343.21 6.85% Afrinvest Dollar Fund 109.56 109.56 5.85% 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 13.48% AIICO Balanced Fund 4.78 4.88 41.08% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.03% Anchoria Equity Fund 181.82 184.18 25.44% Anchoria Fixed Income Fund 1.21 1.21 -1.71% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 29.42 30.30 34.05% ARM Discovery Balanced Fund 646.29 665.77 23.99% ARM Ethical Fund 53.54 55.16 18.68% ARM Eurobond Fund ($) 1.17 1.17 3.82% ARM Fixed Income Fund 1.14 1.14 3.23% ARM Money Market Fund 1.00 1.00 9.63% ARM Short Term Bond Fund 1.06 1.06 2.27% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 102.49 102.49 12.69% AVA GAM Fixed Income Naira Fund 1,108.77 1,108.77 3.59% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.04 1.04 7.33% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 0.00% Paramount Equity Fund 24.9 25.41 41.56% Women's Investment Fund 197.11 200.15 39.46% CHD Nigeria Bond Fund 101.40 101.40 12.55% CHD Nigeria Dollar Income Fund 1.03 1.03 11.21% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 9.53% Cordros Milestone Fund 161.39 162.45 25.64% Cordros Fixed Income Fund 106.65 106.65 10.32% Cordros Halal Fixed Income Fund 108.55 108.55 11.23% Cordros Dollar Fund ($) 113.61 113.61 6.05% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn 1.00 1.00 10.52% Coronation Money Market Fund 1.44 1.45 26.44% Coronation Balanced Fund 1.36 1.36 -0.18% Coronation Fixed Income Fund EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 13.10% Emerging Africa Bond Fund 1.10 1.10 9.80% Emerging Africa Balanced Diversity Fund 1.26 1.26 25.89% Emerging Africa Eurobond Fund 106.75 106.75 5.70% 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 1529.02 1529.02 11.76% FBN Balanced Fund 256.81 258.99 39.29% FBN Halal Fund 131.90 131.90 12.94% FBN Money Market Fund 100.00 100.00 10.52% FBN Dollar Fund 122.99 122.99 7.46% FBN Smart Beta Equity Fund 232.95 235.88 54.26% FBN Specialized Dollar Fund 110.73 110.73 9.56% 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 8.31% Legacy Debt Fund 3.56 3.56 -0.34% Legacy Equity Fund 2.63 2.68 31.64% Legacy USD Bond Fund 1.32 1.32 4.71% 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 5,395.14 5,435.72 31.49% Coral Income Fund 3,967.40 3,967.40 7.68% Coral Money Market Fund 100.00 100.00 10.15% FSDH Dollar Fund 1.19 1.19 5.83%

GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Guaranty Trust Money Market Fund N/A N/A N/A Guaranty Trust Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Guaranty Trust Equity Income Fund (VEIF) N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.77 1.80 15.12% Lotus Halal Fixed Income Fund 1,200.81 1,200.81 9.74% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 17.00 17.13 45.54% Meristem Money Market Fund 10.00 10.00 11.65% 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) 103.43 103.43 11.92% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.47% Norrenberger Dollar Fund (NDF) ($) 102.92 102.92 11.21% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 2.15 2.19 36.52% PACAM Fixed Income Fund 11.93 12.12 7.45% PACAM Money Market Fund 10.00 10.00 9.48% PACAM Equity Fund 2.07 2.09 45.26% PACAM EuroBond Fund 128.59 131.58 15.40% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital The Frontier Fund 151.62 156.32 20.61% 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 1.10 1.10 10.02% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 4,736.19 4,777.24 39.76% Stanbic IBTC Bond Fund 255.36 255.36 8.40% Stanbic IBTC Ethical Fund 1.96 1.98 56.35% Stanbic IBTC Guaranteed Investment Fund 349.55 349.67 11.65% Stanbic IBTC Iman Fund 367.16 371.46 57.17% Stanbic IBTC Money Market Fund 1.00 1.00 10.70% Stanbic IBTC Nigerian Equity Fund 17,294.93 17,508.15 58.42% Stanbic IBTC Dollar Fund (USD) 1.45 1.45 12.52% Stanbic IBTC Shariah Fixed Income Fund 127.36 127.36 8.94% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 124.79 124.79 17.31% Stanbic IBTC Absolute Fund 4,958.56 4,958.56 16.56% Stanbic IBTC Aggressive Fund 5,048.69 5,111.32 81.58% Stanbic IBTC Conservative Fund 5,152.08 5,175.96 35.39% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.26 1.27 37.57% United Capital Balanced Fund 1.75 1.76 34.90% United Capital Wealth for Women Fund 1.35 1.36 25.28% United Capital Sukuk Fund 1.17 1.17 11.58% United Capital Fixed Income Fund 1.94 1.94 6.89% United Capital Eurobond Fund 123.64 123.64 5.56% United Capital Global Fixed Income Fund 1.07 1.07 8.41% United Capital Money Market Fund 1.00 1.00 10.56% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 18.12 18.32 30.75% Zenith ESG Impact Fund 21.47 21.69 35.85% Zenith Income Fund 25.26 25.26 7.22% Zenith Money Market Fund 1.00 1.00 10.38% 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 7.22 7.32 79.03% Vetiva Consumer Goods Exchange Traded Fund 11.44 11.54 94.98% Vetiva Grifﬁn 30 Exchange Traded Fund 25.42 25.62 43.51% Vetiva Money Market Fund 1.00 1.00 9.93% Vetiva Industrial Goods Exchange Traded Fund 28.05 28.25 40.17% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 147.83 149.83 -6.26%

REITS NAV Per Share

Yield / T-Rtn

127.91 55.85 101.79 9.99

12.40% 5.34% -12.52%

Bid Price

Offer Price

Yield / T-Rtn

20.89 440.00 685.00 21.02 32.00

23.09 440.00 685.00 21.35 32.40

41.65% 241.83% 579.23% 48.70% 83.43%

NAV Per Share

Yield / T-Rtn

108.40

0.00%

Fund Name

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

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

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

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

MONDAY, NOVEMBER 27, 2023T H I S D AY

BUSINESS/MONEYGUIDE

KFW Injects €25m into MSMEs, Energy Sectors as DBNAssures of Transparency, Accountability Oluchi Chibuzor As part of its contribution to resuscitate the Nigerian ailing economy, the KFW Development Bank has injected €25million into the Nigerian economy for the growth and development of Micro, Small and Medium Enterprises (MSMEs) and the renewable energy sector through the Development Bank of Nigeria (DBN). Commenting on the development in Lagos, Managing Director/CEO of DBN, Mr. Tony Okpanachi, said that KFW has always been supportive to Nigeria economy in various sectors, this time, they’re keen to see that MSMEs and the energy sector in the country bounce back. He said: “Today we just signed an agreement for the credit line of €25m provided by KFW to Development Bank

of Nigeria to finance renewable energy and Micro, Small and Medium Enterprises (MSMEs). We are wholesale DFI poised to providing access to credit to Micro, Small and Medium Enterprises through wholesale lending to financial institutions and other Micro finance banks. “We provide them with wholesale funds to onward lending to micro small and medium enterprises. As a core part of our mandate, we provide of course we partial credit guarantee, all our efforts are geared towards development and sustainable growth of our economy” He added that DBN already has 65 financial institutions in line with green and renewable energy and businesses in Micro, small and medium enterprises, that relates directly with the small businesses to support them. Okpanachi who expressed optimism added that there would

be regular reporting feedback from the partners (financial institutions) when they draw the line. He said they banks would decide because they bear the credit risks, however he auspiciously noted that the criteria and conditions to access credit would be seamless. On his part, the Senior Portfolio Manager (Equity Investment/ Funds- Sub Sahara Africa & Latin America) for KFW, Mr. Pierre Annutsch, said the financial institution would continue to offer support in diverse ways to the Nigerian economy. “We just signed a credit line with DBN of €25m to support MSMEs and the energy efficiency/ renewable energy, and we believe it would go a long way to help the economy. L-R; Ovoke Tobor of DMNT; FNITP, National Secretary NEC,TPL. Ashiru Oladimeji; Festus Adebayo; We are not just giving the credit Managing Director/CEO Delta Mega Trend Nigeria Limited, Mr. Sam Ogrih; Mr. Kolade Kayode of (DMTNL) and Agu Joy of DMNT, During the 54th National conference and Annual General Meeting of but we shall follow up in the Institute of Town planners in Lagos...recently process, ”he said.

Access PensionsTakes Financial Literacy to 30 SchoolsAcross Nigeria Nume Ekeghe In a bid to foster financial literacy among young individuals in the country, Access Pensions has announced that it is spearheading another educational initiative, providing financial literacy training to secondary and primary school students in 30 schools across Nigeria. The firm in a statement noted that this is the first phase of the company’s plan to educate a total of over five thousand students by the end of 2024. Access Pensions said it is committed to cultivating a foundational understanding of crucial financial concepts such as savings, investments, and overall financial literacy. This initiative, it added, is designed to empower the youth with the necessary

tools to make informed financial decisions as they navigate through life. The Corporate Social Responsibility (CSR) Lead at Access Pensions, Oluchi Maduwuba, emphasised the significance of financial literacy as a cornerstone for empowering the younger generation. She highlighted that instilling financial wisdom early on allows individuals to make smart money decisions in future. Maduwuba said: “Money significantly influences various aspects of our lives, and now, these children have the luxury of time. Saving early ensures their money is invested for a longer period, providing it with the chance to grow. It will help them cultivate a culture of earning, saving and even investing money, leading ultimately, to

self-sufficiency in the future.” She reiterated that the objective of Access Pensions is to contribute to the economic development of communities by imparting financial prudence to young people. The comprehensive training program is meticulously designed to engage students through interactive workshops, presentations, and activities, demystifying financial concepts and making them accessible, relatable and fun. Maduwuba further noted: “Our objective is to contribute to the economic development of our communities. What better way than to start teaching young people how to be financially prudent. Therefore, we are focused on providing the necessary tools and advice required to succeed at this goal.”

Unity Bank Partners Cashtoken to Reward Customers Unity Bank Plc and Cashtoken, have announced a partnership to deploy a patronage reward product that will see the Bank’s customers winning millions of Naira in cash rewards, guaranteed instant cashback, and offer life-changing opportunities. Cashtoken is a Cash Reward-as-a-Service company

that operates a loyalty programme designed to power customer engagement and improve customer satisfaction. Speaking at the media launch in Lagos, Unity Bank’s Head of E-Business, Eghomware Iyamu said the collaboration with Cashtoken is meant to boost the ways in which Unity Bank customers are appreciated.

Iyamu said: “We are excited to announce this strategic partnership with Cashtoken which reinforces our commitment to recognizing and rewarding loyalty. Through this collaboration, we are taking customer appreciation to new heights, offering millions in cash rewards as a token of gratitude for choosing Unity Bank.”

FG Lauds NLTF for Rural Water Supply The federal government has expressed its satisfaction over the remarkable progress made by National Lottery Trust Fund in provision of good cause intervention programme in rural water supply and sanitation in the country. Minister of Special Duties and Inter-Governmental Affairs, Mr. Zaphaniah Jisalo made the commendation during official commissioning of 15 motorised Boreholes at Wunne town in Tarka LGA of Benue state/ Jisalo, said that Government is absolutely impressed with the agency’s performance to deliver good outcome interventions despite the dwindling global economy and with a meager income resources. “It gives me great pleasure to be here today at this special

occasion of the official commissioning and hand over of selected motorized boreholes in 15 communities in Benue State funded by the National Lottery Trust Fund. Permit me to use this medium to also extol the remarkable progress made by National Lottery Trust Fund in the implementation of its approved lottery good cause intervention programme in water and sanitation and other sectors so far across the country, “isalo said. He noted that the intervention would no doubt bring access to clean portable water closer to the beneficiaries, curb the spread of diseases, and improve the health of the benefiting communities. In his remarks, the Execu-

tive Secretary of the National Lottery Trust Fund, Dr. Bello Maigari said that the agency have constructed a total of 15 motorized boreholes in 15 select Communities across Benue State fully funded by the agency. Maigari re-affirm the agency’s commitment to continue for the laudable programme until every community in dire need of portable water supply across the six geo-political zones of the country is been provided. Speaking on behalf of the beneficiary communities in Tarka and Gboko local Government Areas of the state, Mr Moses Tarka and Mrs Grace Igbudu , identified portable drinking water as their greatest challenge within the areas.

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) August, 2023

Money Supply (M3)

65,445,154.2

-- CBN Bills Held by Money Holding Sectors

552,553.58

Money Supply (M2)

64,892,600.61

-- Quasi Money

40,870,301.28

-- Narrow Money (M1)

24,022,299.33

---- Currency Outside Banks

2,295,309.10

---- Demand Deposits

21,726,990.23

Net Foreign Assets (NFA)

7,144,158.92

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

87,273,966.81

---- Credit to Government (Net)

32,511,333.17

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

54,762,633.63

--Other Assets Net

13,347,376.27

Reserve Money (Base Money

19,429,603.25

--Currency in Circulation

2,660,138.92

--Banks Reserves --Special Intervention Reserves

16,769,464.34 428,519.21

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Money Market Indicators (in Percentage) Month

August 2023

Inter-Bank Call Rate

3.89

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

18.75

Treasury Bill Rate

5.13

Savings Deposit Rate

5.26

1 Month Deposit Rate

7.31

3 Months Deposit Rate

7.55

6 Months Deposit Rate

8.30

12 Months Deposit Rate

8.13

Prime Lending rate

13.99

Maximum Lending Rate

27.59

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OPEC DAILY BASKET PRICE AS AT 29TH SEPTEMBER , 2023

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

T H I S D AY ˾ DAY, Ͱ͵˜ ͰͮͰͱ

MARKET NEWS

NGX Places Consolidated Hallmark Insurance Shares on Full Suspension KayodeTokede The Nigerian Exchange Limited (NGX) has placed full suspension in trading of the shares of Consolidated Hallmark Insurance Plc ahead of delisting of the company and listing it as a holding company. The Exchange in a report disclosed that trading license holders and the investing public were notified that trading in the shares of Consolidated Hallmark

Insurance was suspended. According to the Exchange, the suspension was necessary to prevent trading in the shares of the Company and to enable the Company to reconcile its books with CSCS for the delisting of Consolidated Hallmark Insurance and listing of Consolidated Hallmark Holdings Plc. It further noted that the suspension was required to determine the shareholders

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who would qualify for the consideration. The shareholders of the Insurance in 2022 approved the proposed Holding Company (HoldCo) structure for Consolidated Hallmark Insurance (CHI) Plc and all schemes of arrangement under Section 715 of the Companies and Allied Matters Act, 2020. The shareholders gave the approval at the company’s Court Ordered Meeting held in Lagos

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both virtually and physically. By the Scheme of Arrangement, the 10,840,000,000 ordinary shares of 50k each in the issued and paid-up shared capital of the company and held by the shareholders would be transferred to Consolidated Hallmark Holdings Plc. The shares would be transferred in exchange for the allotment of 10.84 billion ordinary shares of 50k each

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in the share capital of the Holdco to the shareholders in proportion to their shareholding in the company to be credited as fully paid. Addressing the shareholders at the meeting, Mr Obinna Ekezie, the company’s Chairman, said that the HoldCo structure would improve Consolidated Hallmark’s valuation by creating a structure where each subsidiary can operate a focused business.

During its 2022 Financial Year, he stressed that the company’s result showed a growth of 22 per cent in Gross Premium Written(GPW) from N10.5 billion in 2021 to N12,8 billion in 2022 while its Underwriting Profit grew from N1.9 billion in 2021 to N2.3 billion in 2022 even as its Total Assets stood at N18.5billion when compared with the N15.6 billion posted in 2021.

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T H I S D AY ˾ DAY Ͱ͵˜ ͰͮͰͱ

CITYSTRINGS

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In Anambra, Non-appointment of Auditor-General Stalls New Retirees' Pensions David-Chyddy Eleke, in this investigative report, sheds light on the travails of new retirees in Anambra State who are yet to receive their pension because of the non-appointment of AuditorGeneral, after the retirement of the previous

HISDAY investigation has shown how the non-appointment of a new state auditor general is taking its toll on the lives of newly retired civil servants in Anambra State, who just left service and are looking to reintegrate into normal life. Anambra State House of Assembly had on November 4, 2022 confirmed the appointment of Mr. Daniel Okeke as the Auditor-General of the State, but Okeke had in July this year retired from service, leaving the office vacant as a new auditor general is yet to be appointed. Four months into Okeke's retirement, the Anambra State governor, Prof Chukwuma Soludo is yet to appoint a new auditor general, and there are no indication that he is ready to do so anytime soon. This has left the fate of civil servants who retired from service from the time he left office to this day in the balance. THISDAY gathered that once it is time for a civil servant to retire, the establishment where they retire from, begins processing their entitlement, such that the civil servant, begins to draw pension immediately they retire, while waiting for the computing of their gratuity, which is a larger sum. An affected retiree who spoke on anonymity said: "I just retired from service. The practice is that months before your retirement depending on your office, you have already started processing your papers, such that once you retire, from the next month, you can start receiving your pension. "The idea is that since you are out of service and will no longer be receiving salary, the pension can sustain you, while you look for something you can be doing; especially for those who are still healthy." "But as it stands now, I have not been getting anything because despite the fact that my papers have been processed, it is there now at the auditor general's table, which is the final stage. But right now, Anambra does not have

Daniel Okeke, retired auditor general of Anambra State.

Governor of Anambra State, Prof Chukwuma Soludo.

an auditor general, so what it means is that we will keep waiting until a new one is appointed," the retiree lamented. THISDAY visited the office of the auditor general, which is situated at Ukwu Orji, behind the Government House, where a staff of the office revealed that loads of files are waiting for the signature of the auditor general, for retirees to begin to draw pension. The staff who begged not to be named as he is not mandated to speak said: "Truth is that nothing is moving in this office presently. "The former auditor general retired some months ago, and since then, no new appointment has been made. If you see the number of files that are waiting to be signed, you will marvel.

"The way this thing works is that close to your retirement, the office where you are retiring from now begins to process your papers. Once they are done, it moves to the office of the head of service for further paper work, after which it comes to the auditor general for his signature. Once these are done, you can now begin to receive your pension. "All that is needed on those files is the signature of the auditor general. We have a most senior officer here, but he cannot sign those files, else it would be void. We don't also know when Anambra State governor will appoint a new auditor, so the fate of many people who are retiring from the point when the former auditor general retired, and to the point when a new one will be appointed, are hanging in the balance." The former auditor general, Mr Okeke had in a workshop organised by the Anambra

State House of Assembly committee on auditor engagement forum and accountability dialogue in July, shortly before his retirement harped on the crucial role of audit work in building public trust and confidence in government financial transactions. This underscores the importance of the office, and the need to ensure that no vacuum is left in the audit office. But there is not hope yet that Governor Soludo will appoint a new auditor general anytime soon. When THISDAY visited the office of the Head of Service, Mrs Theodora Igwegbe to find out what the government is doing to help newly retired civil servants to start getting their pension, pending when a new auditor general would be appointed, she was said to be in a meeting and not disposed to speak. Several calls spanning two days, which were made to his mobile phone were not taken and not also replied. A civil society activist, Mr Chris Azor who reacted on the matter said: "I don't have all the information, but I'm aware that there is someone in acting capacity. I was a member of the budget committee, and about two weeks ago, the auditor general's office appeared before us, and someone who I have known for sometime, introduced himself as being in acting capacity. "That was even when I knew that the former auditor general, who was also my friend had retired. The man who said he was in acting capacity gave his name as Akosa. "I'm not holding brief for the governor, but for me not to know that the former auditor general, who was close to me had retired, then it is a recent thing, and not up to the number of months you are saying. So, I think the governor is bidding his time, to do the needful and then name a new auditor general." As the governor continues to 'wait to do the needful', new retirees will continue to face hard times, including the harsh economy of the country.

Security Expert Clamours for Inter-agency Synergy, Disciplinary Commission While clamouring for Inter-agency synergy, Chiemelie Ezeobi writes that the Managing Director/ Chief Executive Officer of Badinson Security Limited, Mr. Matthew Ibadin, who condemned the incessant clashes among security agents, has urged President Bola Tinubu to set up an Inter Agency Disciplinary Commission as well as restructure the agencies to prevent an overlap of functions

ith the recent increase in the spate of inter-agency violence and attacks among Nigeria's security agencies, a security practitioner and the Managing Director/Chief Executive Officer of Badinson Security Limited, Mr. Matthew Ibadin has strongly condemned the trend. He also called on President Bola Ahmed Tinubu to quickly set up Inter Agency Disciplinary Commissions to handle matters relating to such disgraceful acts. He said: "In this month of November alone, no fewer than two incidents of clashes between two security agencies of the Federal Government has taken place. "A fortnight ago, some armed personnel of the Nigerian Air Force (NAF) had stormed the Kaduna Zonal office of the Economic and Financial Crimes Commission (EFCC) where some NAF personnel arrested in connection with internet fraud were reportedly detained. Their colleagues had gone to forcefully secure their release. "A few days after the Kaduna incident, a police inspector, Jacob Daniel was killed by some soldiers in Adamawa during a clash between operatives of the Nigerian Army and the Nigeria Police Force. "The soldiers were said to have stormed the police headquarters over a conflict with some officers at the Target Junction in Yola North Local Government Area. It was reported that a

Ibadin soldier was shot on the leg by a police man during the conflict, hence other soldiers went for a revenge mission. "In the second week of March this year, two police officers were killed by operatives of the Nigerian Army in Taraba State. The soldiers in a show of force had infiltrated the Police Headquarters in retaliation for the alleged stabbing of its personnel by policemen.

"Similarly, sometime in January this year, it was a big shame in Lagos as a soldier and a policeman engaged each other in a fight over a disagreement. The video of the fight which went viral showed the policeman, with a gun engaging the soldier in a fight while street urchins cheered. "In the first week of August 2022, a policeman was beaten to death by some officers of the Nigerian Army along Lagos-Badary Expressway during a disagreement which ensued while the officers numbering about 30 were trying to breach traffic rules in a traffic lockjam." Ibadin lamented that like other previous incidents involving the Police, Army, Navy, Air Force, Immigration, Customs etc, given that these sister agencies where created and funded by the same Federal Government of Nigeria, it would have been proper for the management and operatives of the various agencies to know that they are "children of the same parents" and should therefore not take their dirty linen to public spaces. While describing the inter-agency clashes as disgraceful, Ibadin said the only antidote to the clashes is the setting up of a inter disciplinary commission of no more than ten members, by the Presidency. He recommended that membership of this proposed task force should exclude serving and retired personnel of the nation's security agencies but to include private security consultants, retired court judges, civil society

organisation members and National Assembly (Senate/ House of Representatives) members. The Commission according to him, should have the power to try any security agent involved in fighting with any member of a sister security agency. The security chieftain who spoke with some journalists in Lagos at the weekend posited that with the endless incidents of clashes between the Army and Police, or Police and Customs, Immigration and Navy, Air Force and NDLEA, Civil Defence And Police and so on, there is evidence of a total break down of law and order among the security agencies with the age long slogan "ESPRIT DE CORPS" largely lacking in contemporary time. He regretted the high level of desecration these officers and men who engage in these clashes have subjected the uniforms they are wearing to. According to him, the uniforms are symbol of authority and fighting openly in the public space makes our security agents a laughing stock even before the international community. "If the men in uniforms continue to fight one another in public as currently being witnessed, what is the difference between them and street urchins," he queried. The Badinson Security head urged President Tinubu to also possibly restructure the security agencies in a manner that would prevent over lap of functions which in some cases cause friction and eventual violent physical combat.

MONDAY NOVEMBER 27, 2023 • T H I S D AY

T H I S D AY • MONDAY, NOVEMBER 27, 2023

MILESTONE The Essential Atiku Paul Ibe Leadership is not a pleasure but a deep and heavy responsibility - George Orwell

rom the get-go, he set his eyes on the horizon, visualizing the big portrait that would later show him to the world as a leader, mentor, politician, businessman, and fulfilled family man. The journey was often punctuated by bumps, some of which were big enough to fetch him instant frustration but for Waziri Atiku Abubakar; it was a journey fated to bear fruit for him, his nuclear and extended families and the society at large. Born on the 25th of November 1946 in rural Ganye, present-day Adamawa state, Atiku witnessed first grade poverty, deprivation, and lack that dominated the lives of the less privileged of his days. Rather than giving in to despondency, he resolved to make it big in life as he inclined his mind to Western education, a practice not too common in Northern Nigeria in his formative years. Today, he has a Masters degree in international relations from Anglia Ruskin University in Cambridge to cap it all. After a successful stewardship as an officer of the Nigerian Customs Service, Atiku joined partisan politics and combined the same with business where he was already a household name across the country. He would go on to participate in many political movements alongside many Nigerian patriots aimed at chasing the military back to barracks. Following the successful end of military interregnum in the nation’s polity, Atiku was elected governor of Adamawa state only to be picked as the running mate to General Olusegun Obasanjo, and the two emerged victorious at the presidential election on the platform of the Peoples Democratic Party (PDP). Fifth columnists, beer parlour analysts and their collaborators had in the past decades, tried albeit unsuccessfully to drag Atiku’s hard-earned reputation in the mud. While some question his source of wealth, others, given to a bare-knuckle variant of political campaigns, attributed his fortune to corruption. Times and again, particularly in the build up to the 2019 presidential poll, Atiku had called on anyone with a shred of evidence against him to waste no time in presenting the same before anti-graft bodies for possible arrest and commencement of prosecution. But to date, they have yet to find their way to either the EFCC or ICPC. Perhaps Google Maps will help! Having run out of smart arguments in the past election cycle, power drunk political merchants whose skills are for hire to the highest bidder, challenged the Nigerianess of Atiku, much to the consternation of wellmeaning Nigerians and the international community. Not surprisingly, the prayer was dismissed in the court for sheer absurdity. And with nothing to hold against him, these merchants of mischief have kept repeating the old lies, featuring their fixation on Atiku’s source of material wealth. So, how did the former Vice President come about his success in the world of business? According to his official biographer, Adinoyi Ojo Onukaba (of blessed memory), young Atiku exhibited traits early in his life that left no one in doubt that he was destined for the big stage. In his biography entitled “Atiku: The Story of Atiku Abubakar,”

G b a j a b iam ila

Onukaba wrote: “Whenever Atiku felt his parents had annoyed him, he would go inside the bush, climb a tree, sit there and refuse to come down. His mother would go begging him with food and drinks, but he would ignore her until he was sufficiently convinced that he had made his point. One day, he slept off on a tree top and came crashing down. Luckily, he escaped unscathed, but the experience taught him to explore other less dramatic ways of expressing his feelings.” Atiku’s grass to grace story is a study in discipline, focus and determination for the young ones, who given the prevailing economic cum social upheavals in the land today may be tempted to laugh off the popular refrain that children are the leaders of tomorrow. As told by Onukaba, Atiku as a student of Adamawa Provincial Secondary School, Yola, spent his earlier vacations as a “Bring Up” clerk to the late Mallam Adamu Ciroma, then a District Officer in Ganye. Hear the veteran journalist: “As a “Bring Up” clerk, it was Atiku’s duty to bring up pending matters to

the attention of the District Officer. He was paid Three Pounds Sterling. From his holiday job earnings, Atiku, then a 15 years old high school student, bought a home for his mother in Ganye. It cost about Nine Pounds Sterling. (Hajiya Aisha) Kande (Atiku’s mother of blessed memory) became homeless after it was discovered that her older brother, Kawu Ali, had secretly sold the family house in Jada.” Shortly after graduating from secondary school, Atiku had a stint in the home of one Abdullahi Dan Buram Jada, a former member of the Northern Regional Assembly and Minister of Animal Health. It was a home many Northern kids lived at the time, but for young Atiku, Jada’s residence provided him an opportunity to think of ways of realizing his dreams. When he’s not quite busy, he would walk across the road into a tailoring shop owned by Babangida Mohammed, where he helped sew bottoms on clothes in exchange for pocket money. This little beginning gave the young man a nose for business early in life for

as early as 1974 as Customs officer Atiku applied for a Federal Staff Housing Loan, and he was given. As told by Onukaba in his brilliant account, “The money was Thirty One Thousand Naira (N31,000), the equivalent of his salary for five years. He applied to the Gongola State Government for a plot of land at Yola Government Reserved Area (GRA), and he was given. He hired a foreman and began building his first house. With close personal supervision, the bungalow was completed on time and to his taste. He rented it out immediately. “The upfront rent he collected was substantial enough to purchase a second plot and begin work on a second house in the same area. He completed it and rented it out again. He kept ploughing the rent back into new building projects, and within a few years, Atiku had built eight houses in choice areas of Yola. He became a powerful landlord in Yola, making a lot of money annually from rent.” Following his posting to Kaduna, Atiku, as the story goes, “bought six more plots from people and built residential houses on them for rent to individuals and institutions. The cost of land even in good locations in Kaduna was low then and Atiku took maximum advantage of it.” While this historical account is by no means an attempt to join issues with “leaders” bent on pulling the Wazirin Adamawa down at every election cycle; it is imperative to point out that Atiku is not a player in the low leagues featuring politicians with embarrassingly thin resumes. As such, he won’t jump in the ship of hostility to throw punches but would welcome debate on sub-national, national, and global economies and strategies to keep them healthy. In the world of business, Atiku has huge investments in logistics, banking, media, real estate, agriculture, construction, and education, to mention a few. A young man who knew a thing or two about making money while his peer group were looking up to their parents for the next meal, won’t certainly be in politics to enrich himself. No, the former Vice President and chieftain of the Peoples Democratic Party (PDP) has always offered Nigeria and Nigerians his talents, experiences, and energy to make Nigeria the beautiful country of our collective dreams. Many politicians who have gone through the bruising experience of his with the mandate bandits in the 2023 presidential election would have been retired into irrelevance. But not Atiku, who appears to come back better notwithstanding the odds. “I am not going away...For as long as I breathe, I will continue to struggle, with other Nigerians, to deepen our democracy and rule of law and for the kind of political and economic restructuring the country needs to reach its true potential,” he told a world press conference recently while also making constitutional and electoral reforms proposals that could take Nigeria out of the woods. This is the essential Atiku, an endangered species that is undoubtedly focused on fixing Nigeria (whether in government or as a private citizen) and making it work again for the greater good. On this auspicious occasion of your 77th birthday anniversary, I wish to remind you that the seeds of goodness you’ve sown in every nook and cranny of Nigeria will count for you in the many years ahead, in good health and vitality. •Ibe is Media Adviser and Spokesman to Atiku Abubakar.

MONDAY, NOVEMBER 27, 2023 • T H I S D AY

POLITY Powering Prosperity: Unlocking Nigeria’s Potential Through U.S. Partnership David Greene

igeria is on track to be the world’s fourth-most populous country by 2050. It already has the largest economy in Africa and, with 60 percent of its population under the age of 25, it stands on the threshold of a demographic dividend that can dramatically transform its economy for the better. Nigeria’s strategic partnerships are essential in harnessing this potential, and the United States is playing a leading role. As we near the six-month mark of President Tinubu’s administration, our relationship has emerged as a key for success. One year ago, at the U.S.-Africa Leaders Summit in Washington, DC, President Biden renewed our commitment to deepening engagement across the continent. Here is how we are doing that in Nigeria – working in areas that matter most to everyday citizens, such as growing the economy, strengthening democracy, improving health outcomes, ensuring security, and addressing the climate crisis. Nigeria’s economic potential is vast, and with the right macroeconomic framework, a sound fiscal strategy, and a strong commitment to rooting out corruption, it can become a preferred destination for foreign direct investment. American investors and companies are eager to engage with Nigeria, and the United States government is doing its utmost to build our bilateral trade and investment ties. Consider these examples: We have joined forces to accelerate Nigeria’s digital transformation, with investments from U.S. tech giants such as Microsoft, Cisco, Meta, Google, and Starlink. This partnership has built a platform to train unemployed and underemployed women and youth. Moreover, it has been a catalyst for quality investment, accounting for more than a quarter of all venture capital flowing into Africa. Collaborative efforts in agriculture further underscore our commitment. For example, the U.S. Department of Agriculture recently dedicated $22 million to strengthen Nigeria’s cocoa value chain, supporting more than 60,000 cocoa farmers, processors, marketers, and other agribusiness service providers in what is Nigeria’s #2 foreign exchangeearning export. From tech to agriculture, these steps go beyond statistics. They translate into tangible outcomes: good jobs, seed money for new ventures, and higher-value agricultural exports. The United States is also a steadfast partner in strengthening Nigeria’s health sector. With World AIDS Day – December 1 – approaching, it is worth recalling that over the past two decades, PEPFAR, the leading U.S. initiative to address HIV/ AIDS, has invested nearly $8 billion in Nigeria, providing more than 1.6 million individuals with life-saving HIV treatment. In response to COVID-19, the United States donated more than 44 million vaccine doses, helping the Nigerian government approach its target vaccination rate of 70 percent of the eligible population. Partnerships like the U.S. President’s Malaria Initiative, with an annual budget of more than

Tinubu

$71 million, have reduced child death rates and strengthened health systems. Those investments are just part of our overall development assistance to Nigeria. In fiscal year 2022 alone, the U.S. government allocated over $1.2 billion dollars in such support. These funds provide humanitarian assistance, and improve health, economic development, education, social services, democracy, human rights and governance, and peace and security. In the latter two areas – democracy and security – we aim to support an inclusive future where Nigerian citizens’ votes count and translate into responsive governance, and where they can live in peace. We are a steadfast partner in seeking to strengthen election processes that will enhance accountability to meet citizens’ expectations, and pursuing innovative projects to help communities resolve differences without violence. Through cooperation with and training of Nigeria’s military and police, we are building more capable forces. Collaborating with civil society, law enforcement, and the judiciary, we are confronting the security

Biden

challenges that stand in the way of economic growth while upholding a shared commitment to human rights. Initiatives include building Nigeria’s counter-terrorism capacity, bringing technology to courtrooms and casemanagement systems to help in the administration of justice and reduce pre-trial detention, and supporting efforts to enhance accountability and transparency in police forces. Our partnership to address the climate crisis reflects our mutual recognition of this challenge, and our respect for Nigeria’s role as both an energy producer and a country profoundly impacted by the effects of climate change. In the leadup to COP28 – the 28th Conference of Parties to the UN Framework Convention for Climate Change, which begins this week – the United States and Nigeria are aggressively seeking solutions. For example, U.S. support for Nigeria’s leadership as a Global Methane Pledge champion has led to action that is reducing greenhouse gas emissions for the benefit of all. These programs and cooperative efforts advance a joint agenda that is built and driven by the highest levels of our leadership. President Biden met with President Tinubu

in September, and numerous senior U.S. officials have come to Nigeria in recent months to confer on meeting Nigeria’s energy needs, driving U.S. trade and investment in Nigeria, and strengthening our law enforcement cooperation. These engagements strengthen our ties, address Nigeria’s pressing needs, and tackle shared challenges. Ultimately, realizing Nigeria’s potential hinges upon enhancing its fiscal and economic health – and capitalizing on its strategic partnerships to build on that foundation. The opportunity has never been greater. Nigeria, with its youth, energy, and entrepreneurial spirit, is poised to seize this moment. We commend the government for its bold actions thus far to try to move the economy to a more solid footing. The United States is your partner in that effort – through investment, better security, a stronger workforce, and resilient institutions – that benefits all Nigerians and expands prosperity for both our peoples. Our journey ahead has its obstacles, of course. But together we will find a path toward a shared prosperity. •David Greene, Chargé d’Affaires, a.i. United States Embassy Abuja

MONDAY NOVEMBER 27, 2023 • T H I S D AY

MONDAY, NOVEMBER 27, 2023 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Alleged Coup: Curfew in Sierra LeoneAsGunmenAttack Main Military Barracks, Overrun Prisons Gaza Strip.

Sierra Leone’s president declared a nationwide curfew Sunday after gunmen attacked the military’s main and largest barracks in the West African nation’s capital and then overran detention centres, including a major prison. The attack raised fears of a breakdown of order amid a surge of coups in the region. The detention centres, including the Pademba Road Prisons — holding more than 2,000 inmates — were attacked just as security forces fought to restore calm during sustained shootouts at the Wilberforce military barracks, according to Information Minister Chernor Bah. “The prisons were overrun [and] some prisoners were abducted by the assailants while many others were released,” Bah said. He added that security forces managed to “push back” the assailants to the outskirts of the city, where fighting continues. Sierra Leone’s President Julius Maada Bio earlier declared a nationwide curfew in response to the attacks. An Associated Press journalist in the capital said that gunshots were still heard in the city hours after the government assured residents of calm, although it wasn’t clear who was behind the exchange of fire nor if any arrests were made. “The security forces are making progress in the operation to defeat and apprehend those responsible for today’s attacks,” Bah said. “The government remains in control and on top of the situation.”

Myanmar Armed Group Seizes ChinaMyanmar Border Crossing

An ethnic minority armed group in Myanmar has seized control from the country’s ruling junta of a lucrative border crossing to China, local media and a security source said Sunday. Clashes have raged across Myanmar’s northern Shan state, close to the Chinese border, after an armed alliance of three ethnic minority groups launched an offensive against the military in October. The groups have seized dozens of military positions and a town important for trade with China, choking commerce routes for the cash-strapped junta. An offensive by the Myanmar National Democratic Alliance Army (MNDAA) — one of the three allied groups — captured the Kyin San Kyawt border gate, a local media outlet affiliated with the group said. “MNDAA also reported they seized one more border trade gate, which is called Kyin San Kyawt, in Mongko area, Muse district this morning,” the Kokang news reported Sunday. It added that the alliance — including the Arakan Army (AA) and Ta’ang National Liberation Army (TNLA) — had taken other positions in the border trade zone after the assault began on Friday. A security source told AFP that MNDAA had raised its flag at the border trade zone at Kyin San Kyawt.

Militants Claim to Seize Mali Military Base, Army Counters

An Islamist group linked to al-Qaeda claimed to have seized a military base in the north of Mali, inflicting heavy losses on the country’s military. The Malian army, however, said it had repulsed attacks on bases in the Timbuktu region Friday. Jama’at Nusrat al-Islam wal Muslimeen (JNIM) took control of the Niafunke camp Friday with the help of a suicide bomb vehicle, the group said on its Al-Zallaqa Foundation media platform. That statement was verified Saturday by SITE, a U.S. organization that follows radicalized groups. Tens of soldiers were killed or wounded in the battle, and two were captured, JNIM claimed. It released photos showing five armoured vehicles it claimed to have captured, along with weapons and ammunition. It said that dozens of soldiers had been killed or wounded, and two had been taken prisoner. It was not possible to verify the information immediately. JNIM often abandons camps they capture after a few hours. The group also claimed to have hit another army camp, a few miles away in Goundam, with mortar fire. The Mali military said on social media that the attacks had been “energetically repelled.” “After artillery fire on the two camps, the assailants tried in vain to occupy them and were routed,” it said.

Hamas Releases 17 More Hostages, Including Orphaned Israeli-American Girl

Israel said Sunday that Hamas militants have released 17 more hostages held in Gaza, including a 4-year-old Israeli-American girl who U.S. President Joe Biden said witnessed her parents being killed by Hamas during its attack on southern Israel seven weeks ago. The girl, Abigail Edan, was among 14 Israelis and three foreign nationals turned over to the International Committee of the Red Cross on the third day that Hamas released hostages in exchange for Israel freeing Palestinians who had been jailed for various offences. Biden said, “What she endured is unthinkable.” The U.S. leader spoke with Israeli Prime Minister Benjamin Netanyahu later about the release of the hostages during Israel’s planned four-day pause in its offensive on Hamas militants in the Gaza Strip, the narrow territory along the Mediterranean Sea. The White House said in a statement that Biden and Netanyahu also discussed the pause in the fighting and surge in much-needed additional humanitarian assistance into Gaza.

Lung Inﬂammation Prevents Pope from Appearing at Window HRW: Rocket Misﬁre Likely Caused Deadly Gaza Hospital Blast

Human Rights Watch said Sunday that evidence suggested a misfired rocket was the likely cause of an explosion that resulted in heavy casualties at a hospital in Gaza on October 17. The explosion at the Al-Ahli hospital triggered outrage across the Arab world. Palestinians blamed an Israeli airstrike, while Israel said a misfiring Palestinian rocket launch caused it. The health ministry in Gaza said 471 people were killed. Israel disputes this figure. An unclassified U.S. intelligence report estimated the death toll “at the low end of the 100 to 300 spectrum.” “The explosion that killed and injured many civilians at Al-Ahli Arab Hospital in Gaza on October 17, 2023, resulted from an apparent rocket-propelled munition, such as those commonly used by Palestinian armed groups,” HRW said. It said the findings of its investigation into the explosion were based on a review of photos and videos, satellite imagery and interviews with witnesses and experts. The Al-Ahli hospital blast was one of the most fiercely disputed incidents in a war marked by accusations from both sides of disinformation and war crimes. Senior Hamas official Basem Naim told Reuters all indications pointed to Israel’s responsibility, adding that the HRW report was biased toward Israel and was not “decisive.”

Suicide Bombing Hits Military Convoy in Pakistan

A suicide bomber struck a Pakistani military convoy in a volatile northwestern region Sunday, wounding at least 11 soldiers. Multiple official sources confirmed to VOA the attack occurred in Bannu, a garrison city in Khyber Pakhtunkhwa province. They described the condition of at least three injured personnel as “critical.” The army’s media wing did not immediately comment on the bombing. The anti-government Hafiz Gul Bahadur group, known to have close ties with neighbouring Afghanistan’s ruling Taliban, claimed responsibility for the attack. Bannu and several adjoining Pakistani districts, including North Waziristan on the Afghan border, routinely experience militant attacks. Pakistan alleges fugitive militants have

intensified their violent campaign in the country from sanctuaries in Afghanistan since the Islamist Taliban reclaimed power there two years ago. Officials say the violence has killed more than 2,300 Pakistanis, mostly security forces. The bloodshed has strained Islamabad’s relations with the de facto Afghan government in Kabul. Most of the violence has been claimed by the outlawed Tehrik-i-Taliban Pakistan, or TTP, an alliance of more than a dozen militant insurgent groups.

Tens of Thousands March Against Antisemitism in London

Ten of thousands of people participated in a march against antisemitism in London on Sunday, protesting a rise in hate crimes against Jews since the October 7 attack by Hamas militants on Israel and Israel’s subsequent bombardment of Gaza. Former British Prime Minister Boris Johnson was among the estimated 60,000 demonstrators in the first march of its kind since the Israel-Hamas war began and the largest gathering against antisemitism in London for decades, according to organisers. Johnson marched with the UK’s Chief Rabbi Ephraim Mirvis and other senior government officials. Protestors carried placards with the message ‘Shoulder to shoulder with British Jews’, ‘Never Again Is Now’, and ‘Zero tolerance for anti-Semites’. Others showed the faces of Israeli hostages held by the Palestinian militant group Hamas in a show of solidarity with the Jewish communities, which have recently suffered a spate of hate crimes, especially in the nation’s capital. Some people sang in Hebrew while others chanted “Bring them home” about the hostages. London’s Metropolitan Police received reports of 554 antisemitic offences between Oct. 1 and Nov. 1, up from 44 a year earlier, a more than 10-fold increase. Reports of Islamophobic offences almost tripled to 220 during the same period. Police arrested a far-right activist, Tommy Robinson, at the start of Sunday’s march after he refused to leave the area at the request of police officers. Organizers of the demonstration had asked Robinson not to attend because of the distress his presence was likely to cause. Sunday’s march took place a day after the latest demonstration in the British capital by pro-Palestinian protestors calling for a permanent ceasefire in the

Pope Francis, suffering from a “lung inflammation,” appeared seated in the chapel of his residence instead of in St. Peter ’s Square while an aide read the pontiff’s Sunday message. The 86-year-old pope, wearing his traditional white robes and with a bandage on his right hand, remained seated next to the aide during the reading. “Dear brothers and sisters. Happy Sunday. Today, I cannot appear at the window because I have this problem of an inflammation in the lungs,” Francis said. Francis went to a Rome hospital on Saturday for a scan that the Vatican said had ruled out lung complications after a bout of flu forced him to cancel activities. The Vatican did not state the apparent difference between its statement on Saturday and what the pope said on Sunday. One part of one of the pope’s lungs was removed when Francis was a young man in his native Argentina. Francis then introduced the priest, Father Paolo Braida, who went on to read the pope’s Sunday message based on the Gospel. Francis coughed several times during the reading.

Russia Puts Meta Spokesperson Andy Stone on ‘Wanted List’

Russia has added the spokesperson of U.S. tech giant Meta, which owns Facebook and Instagram, to a wanted list, according to an online database maintained by the country’s interior ministry. Russian state agency Tass and independent news outlet Mediazona first reported on Andy Stone’s inclusion on the list Sunday, weeks after Russian authorities in October classified Meta as a “terrorist and extremist” organization, opening the way for possible criminal proceedings against Russian residents using its platforms. The interior ministry’s database does not give details of the case against Stone, stating only that he is wanted on criminal charges. According to Mediazona, an independent news website that covers Russia’s opposition and prison system, Stone was put on the wanted list in February 2022, but authorities made no related statements at the time, and no news media reported on the matter until this week. In March this year, Russia’s federal Investigative Committee opened a criminal probe of Meta. It alleged that the company’s actions following Moscow’s all-out invasion of Ukraine in February 2022 amounted to inciting violence against Russians.

T H I S D AY • MONDAY, NOVEMBER 27, 2023

NEWS

TOURNAMENT OF GOLF FOR PEACE OPENING CEREMONY... L-R: Former Corps Marshal, FRSC Dr. Boboye Oyeyemi, His Royal Highness Olumobi of Imobi Ijesa, Dr Adetayo Haastrup; Minister of Labour & Employment, Simon Lalong; Chief of Defence Staﬀ General, Christopher Musa; Convener Golf Fore Peace tournament, Kemi Otegbade; during the Tournament of Golf For Peace opening ceremony in Abuja.. weekend KINGSLEY ADEBOYE

Tinubu: FG Working to Reintroduce Full Autonomy to Universities Says it will shift performance responsibility to individual institutions UNIBEN honours Fashola, Komolafe, Adegbulugbe, others Emmanuel Addeh in Abuja The federal government has intervened over the increasing price of Liquefied Petroleum Gas (LPG), with the Minister of Petroleum (Gas), Ekperikpe Ekpo, urging International Oil Companies (IOCs) and other producers to fulfil their domestic obligations before export. At a meeting in Abuja, Ekpo told the producers that Nigeria has to find a way to surmount the challenges in the country's domestic market, expressing President Bola Tinubu’s concerns over how unaffordable the product was becoming. The intervention is coming as the National Bureau of Statistics (NBS) in its latest report, said that in October LPG prices rose by as much as 14 per cent in October for a 12.5 kg tube. But a statement by the minister’s media aide, Louis Ibah, yesterday said the

intervention on the LPG issue, better known as cooking gas, followed the rise in recent months in the price of the product per kg from about N700 to above N900 in some parts of the country. Key challenges identified as responsible for LPG price increase, Ekpo said, include FX sourcing for imports and insufficient supply to the domestic market by producers. The meeting, at the instance of the minister, was held at the NNPC Towers and had in attendance top officials of Chevron Nigeria Limited led by Sansay Narasimi. Others included: The Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) led by its Chief Executive Officer, Farouk Ahmed and officials from the Nigerian National Petroleum Company Limited (NNPC). “Ekpo expressed the concerns of President Bola Tinubu over the astronomical

increase in the price of cooking gas and the attendant hardship on majority of citizens,” the statement added. The minister who noted that Nigeria is abundantly endowed with gas reserves, said the situation where some of the multinational firms were more concerned with gas exports without dedicating huge volumes for the domestic market was unacceptable and should be discouraged. "With the exponential increase in the price of LPG, there is the need for the federal government to intervene and I am representing this at this moment. We acknowledge that some producers are exporting while we are faced with the challenges of importation. “Public interest is the overriding interest all over the world for the government, the demand for LPG will increase as we approach December... you have a public service obligation to collaborate with the government to ensure

security of gas supply. “We need to therefore bend backwards and find solutions, to ensure that we have sufficient supply and stability in-country and that Nigerians have gas," said Ekpo. The gas minister thereafter constituted a committee headed by the chief executive of NMDPRA with a mandate to come up with recommendations on how to boost supplies and crash LPG prices within a week. However, the NBS in its latest report said the average retail price for refilling a 5kg cylinder of cooking gas increased by 8.89 per cent on a month-on-month basis from N4,189.96 recorded in September 2023 to N4,562.51 in October 2023. However, on a year-on-year basis, this increased by 1.76 per cent from N4,483.75 in October 2022, it added. On state profile analysis, Kano recorded the highest average price for refilling a

Procurement Act Review: NEFGAD Alleges over 70% of Public Procurements Done in Bedrooms Michael Olugbode in Abuja A public procurement advocacy group, Network for the Actualization of Social Growth and Viable Development (NEFGAD) has decried that 70 percent of procurement proceedings are being initiated and concluded in the bedrooms of privileged few in the country, even as it lauded the federal government over plan to review the public procurement Act 2007. The group, in a statement signed by its head of office, Mr. Akingunola Omoniyi and made available at the weekend in Abuja, said President Bola Tinubu has again demonstrated courage and tact in tackling one of the most vicious enemies of the country’s growth and development. Akingunola stressed that “the current Public Procurement Act enacted about 15 years ago is due for review in line with global best

practices and changing operational dynamics in the public contracting sector.” He noted that Public Procurement in Nigeria has become an ‘anything goes’ phenomenon whereby everything and anything is possible maintaining that the Public Procurement Act in its current form is creating veneer of legality to blatant procurement illegality. He said: “The Act as it stands has been so bastardised to such an extent that restricted/selective tendency is now a norm rather than exception with more than 70 percent of procurement proceedings being initiated and concluded in the bedrooms of privileged few on whom the Act placed so much supervisory and regulatory responsibilities. “The implication of this dastardly act is that 70 percent of the contract sum ended up under the same

bedroom through which the procurement proceedings emanated as against solving critical national developmental problems.” Akingunola emphasised that the Public Procurement Act is not creating any obstruction or impediment to development as what some self-serving elements will want the people to believe. The only timeline set out by the Procurement Act is the mandatory six weeks newspaper advertisement period for bid solicitation, and the wisdom in this is to promote competitiveness that will ensure economy and value for money, all other timeline and processes are at the discretion of procuring entities. The statement further stressed that for the country to be littered with over 11,000 abandoned federal projects alone under a regulated procurement system shows that

it is the corrupt few that are now regulating their pockets. “One of the major contributing factor for the bastardization of the procurement system in the country is that successive governments are in the habit of enforcing the Procurement Act in breach by the non-constitution of the National Procurement Council and appointing Director General for the Bureau of Public Procurement (BPP) through the back door of non-competitive selection. Akingunola admonished president Tinubu not to consider the distractive proposal of some people making the President head of National Procurement Council, noting that presidents all over the world only sit to discuss policies and programmes not with contractors to debate contracts either at weekly Federal Executive Council or as Chairman of a National Procurement Council.

5kg of LPG, with N5,181.43, followed by Adamawa with N5,142.86, and Ogun with N5,093.75. On the other hand, Ebonyi recorded the lowest price with N3,971.43, followed by Osun and Edo with N4,000.00 and N4,025.00 respectively. In addition, analysis by zone showed that the North-west recorded the highest average retail price for refilling a 5kg cylinder of LPG, with N4,738.20, followed by the North-central with N4,662.62, while the South-east recorded the lowest with N4,088.65. Also, the average retail price for refilling a 12.5kg of cooking gas, increased by 14.04 per cent on a month-on-month basis from N9,247.40 in September 2023 to N10,545.87 in October 2023.

On a year-on-year basis, this rose by 4.93 per cent from N10,050.53 in October 2022. On state profile analysis, Edo recorded the highest average retail price for the refilling of a 12.5kg cylinder of cooking gas, with N12,536.88, followed by Jigawa with N12,050.00 and Delta with N11,987.50. Conversely, the lowest average price was recorded in Zamfara with N9,050.00, followed by Lagos and Oyo with N9,071.05 and N9,407.14 respectively. Analysis by zone showed that the South-south recorded the highest average retail price for refilling a 12.5kg cylinder of cooking gas, with N11,480.60, followed by the North-central with N10,683.97, while the South-east recorded the lowest price with N9,847.42.

Nigeria to Send Technical Volunteers to 50 Countries, Says DG DTAC Michael Olugbode in Abuja Nigeria will be sending technical volunteers to 50 countries in the next three years, the Director General, Directorate of Technical Aid Corps (DTAC), Dr. Yusuf Buba Yakub, has said. Yakub disclosed this on Sunday during a reception and award of certificates to 23 Technical Aid Corps (TAC) volunteers after completing a two-year programme in Uganda. While disclosing that all the 23 volunteers were in the education sector, Yakubu said: "All the 23 volunteers we are receiving today are professors and doctors in different specialisations who have served in Uganda for two years and have been good ambassadors of Nigeria. When I visited Uganda, there were great testimonies because people of Uganda are seeing Nigeria through them. “Thank God they exhibited high standard of performance in the areas of their duties and also in their day to day interaction with the people of Uganda.” The DG also revealed that there

are demands to have some of the volunteers renew their stay, which is against TAC's policy. He however said the countries are free to enter into contracts talks with the volunteers. He said: “We at DTAC will make sure we support the volunteers who have gotten offers.” He noted that: "We will continue to send volunteers not to only Uganda but our target is to make sure we have volunteers in not less than 50 countries in the next three years." The DG while noting that three different groups of volunteers have been dispatched in the last two months, said other groups would join from the first quarter of next year. Some of the volunteers who narrated their experience said Nigeria’s education environment is far better than the country they served. The volunteers said they were able to help them set up their system, develop a proper system for some of their faculties and departments in the various universities they served.

T H I S D AY • MONDAY, NOVEMBER 27, 2023

NEWS

FINNISH DELEGATION'S VISIT TO NCC... L-R: Finnish Deputy Minister for International Trade, Jarno Syrjala; Executive Vice Chairman/Chief Executive Oﬃcer, Nigerian Communications Commission (NCC), Dr. Aminu Maida; Finnish Ambassador to Nigeria, Leena Pylvanainen; Executive Commissioner, Stakeholder Management, NCC, Adeleke Adewolu, and Nokia Vice President for Sales, Middle East and Africa, Petri Moilanen, during the visit of a delegation from Finland to the Commission in Abuja recently.

Breach of Contract: Davido Files Preliminary Objection to Challenge Amaju Pinnick’s Suit Ex NFF president under pressure to file fraud, cyber-bullying suits against artiste in US Wale Igbintade A Nigerian-American superstar singer, David Adedeji Adeleke, popularly known as Davido, has filed a preliminary objection to challenge the N2.3 billion breach of contract suit instituted against him and his music label, Davido Music Worldwide Limited, by Brownhill Investments Company Limited and its Chairman, Mr. Amaju Pinnick. Pinnick, a former President of the Nigerian Football Federation (NFF), had instituted the N2.3billion suit before the High Court of Delta State, Effurun, against Davido for an alleged breach of agreement/ contract. Specifically, the claimants are asking the court to award the amount as general damages against Davido, following his refusal to honour the agreement and contract

reached with him to perform at the 19th edition of the “Warri Again” event on October 6, 2023 for which he failed to appear after collecting the sum of US$94,500 (an equivalent of N70million). They stated that they also incurred additional expenses of $18,000 to secure the private jet chartered to convey the Davido (1st defendant) and his team, yet he refused to show up for the show. At the resumed hearing of the suit, Davido, as a plot to delay case, had challenged the jurisdiction of the court to entertain the matter. In his preliminary objection, the artiste premised his response on the grounds that the case is a debt recovery matter and that the claimant ought to have written a letter of demand first before rushing to court. He further claimed that

Sosoberokon is not his agent and does not negotiate performance contracts on his behalf. While the singer claimed that he was not paid for the show and that Soso was not his agent, he however admitted receiving the payment of $94,500 but stated that the sum was payment for only promotion of the show. In the sister case bordering on criminal defamation, Davido through his team of lawyers led by Mr. Norrison Quakers (SAN) Senior Advocates of Nigeria, also filed a preliminary objection challenging the jurisdiction of the court on the grounds that the defamatory statements were published online but the claimant did not show that the defamatory statements were downloaded and viewed in Delta State to give the court jurisdiction. Both matters have been

adjourned to December 14, 2023 for the court to rule on the preliminary objections filed in both cases. Also, in the N500million defamation case filed against Israel, Davido's Staff, no defence was filed on behalf of Israel and the court has already granted the application for injunction restraining Israel from making any defamatory statements against Pinnick. Meanwhile, Pinnick’s legal team is led by Mr. Kelechi Onwu, a senior partner in Alegeh & Co., the law firm of the former President of the Nigerian Bar Association (NBA), Mr. Austine Alegeh (SAN). However, strong indications have emerged that Davido has enlisted many Nigerians to help prevail on Pinnick to withdraw the suit. THISDAY gathered that the many Nigerians including three eminent personalities are already in

NDLEA Smashes Illicit Drug Abuse Party in Osogbo Michael Olugbode in Abuja Operatives of the National Drug Law Enforcement Agency (NDLEA) have smashed a party organised for illicit substance abuse at a lounge in Osogbo, the Osun State capital, arresting the organisers who were found in possession of drugs. A statement on Sunday by the spokesman of the anti-narcotics agency, Femi Babafemi, said the clampdown was made on Saturday, following credible intelligence that some persons were going to hold a night party tagged, “Unholy Alliance…for Stoners and Drunkards,” where different types of illicit substances were going to be sold and consumed by patrons. He said soon after the organisers began to gather at Berrymist Lounge located at Ofatedo area of Osogbo, to start the party, NDLEA operatives swooped on them, arrested them and recovered illicit substances of abuse and drug paraphernalia from them. He said those arrested include: Ikotu Omolayo, 25; Fola Olabode, 30, and Akorede Ajibola, 22, adding that the management of the Lounge has also been invited for further investigation. According to him, this comes on the heels of an earlier raid last

Thursday at Area 5 Forest Reserve, Ile-Ife, where operatives recovered 156 kilograms of cannabis sativa. Babafemi also disclosed that operatives in Ogun State last Friday, arrested two suspects: Adamu Ibrahim and Nura Sani at Ileke Trailer Garage, along Lagos-Ibadan expressway, where 859 kilograms of cannabis sativa concealed among bags of sugar in a truck for onward transportation to Mokwa, Niger State. He said the consignment was loaded in Ogbese, Ondo State and hidden among bags of cement in a truck before being transloaded into another trailer bearing sugar in Ogun State. In Edo State, operatives last Monday, stormed a warehouse at Obi Camp in Owan West Local Government Area, where they recovered 338 kilograms of cannabis concealed in sacks of charcoal, while in another operation in Ikhin Forest, Owan East Local Government Area, NDLEA officers seized 235 kilograms of the same psychoactive substance last Saturday. A suspect, Onah Ikechukwu, 32, was arrested at Jattu, Etsako West Local Government Area with 11,690 capsules of tramadol, 295 bottles of codeine syrup and various

quantities of molly, cannabis and methamphetamine last Wednesday. A similar raid in Lagos last Wednesday, at Enu-Owa Street, Lagos Island, led to the recovery of 40,500 ampoules of pentazocine injection; 440,000 pills of tramadol in a store belonging to a suspect, Ebuka Amechi who is currently at large. Not less than 135,600 capsules of tramadol and 950 grammes of cannabis were seized from two suspects: Afamefuna Ibekwe, 37, and Sunday Onweh, 41, at Nkpor, Akuzor and Ose-Ogbaijo, Onitsha, respectively, while 37,360 pills of different opioids and 250 bottles of codeine syrup coming from Onitsha, Anambra enroute Abuja, were recovered from Muhammed Khamis, 22, last Thursday along Okene- Lokoja-Abuja expressway. Operatives in Ekiti State seized a total of 288 kilograms of cannabis at Odo-Owa forest in Ijero local government area last Saturday. At least, 116 kilograms of same psychoactive substance were seized from a suspect, Chinagoram Obaru, 24, who was arrested at Iju Forest last Thursday. He noted that Commands across the 36 states and the FCT equally

continued their War Against Drug Abuse, WADA, sensitization lectures in schools, communities, work places and others. Some of these include: WADA sensitisation lecture for students and staff of Comprehensive High School, Abia, Udi LGA, Enugu; teachers and students of Dr. Nuhu Sanusi Junior/Senior Secondary School, Dutse, Jigawa; students of Haneef High School, Jos, Plateau; students of Akinorun Muslim Grammar School, Ikirun, Osun; students of Zaibadari Michika Primary, Junior and Senior Secondary School, Michika, Adamawa; and students of Madarasatul-Islamiya Baichin Kako, Marna Gusau, Zamfara state, among others. Meanwhile, the Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Buba Marwa (Retd) while commending the arrests and seizures of the past week by officers and men of the Osun, Ogun, Ondo, Edo, Anambra, Ekiti, Kogi and Lagos Commands, charged them and their compatriots across all formations of the agency to continue to remain vigilant and double their efforts especially with the desperation of criminal networks to make money by all means as the yuletide season approaches.

talks with Pinnick to see how both parties settle for an out-of-court settlement. It was gathered that Pinnick is insisting on going ahead with the suit due to the attempt by Davido to tarnish his hard-earned reputation despite the unblemished and transparent career he had both as former President of NFF and current role with FIFA, which requires integrity and honesty. THISDAY further gathered that since Davido is also an American,

pressures have intensified by Pinnick’s friends, associates and international partners for him to file a suit in the United States against Davido and his associates for alleged fraud and cyber-bullying. They referred to the current travails of P-Diddy who already facing multiple investigations, accusations and suits bordering on sexual abuse and rape and R-Kelly who is currently serving a prolonged term of imprisonment for similar offences.

No Protester Missing in Chevron, Ugborodo Face-off, Says CNL Sylvester Idowu in Warri Chevron Nigeria Limited (CNL) has denied reports that three protesters at its Terminal and Escravos Gas—To-Liquid (EGTL) jetties in Warri Southwest council area of Delta state, are missing. This was contained in a statement issued over the weekend by CNL’s General Manager, Policy, Government and Public Affairs, Esimaje Brikinn. CNL, operator of the joint venture between the company and the Nigerian National Petroleum Company Limited (NNPC), reiterated its commitment to partnership with various stakeholders, including the communities neighbouring its areas of operations in the Niger Delta, for sustainable development. The company stated that it was engaging with relevant stakeholders, including the protesters, community leaders, traditional rulers, the Board of Trustees (BoTs) of the Warri Onshore Host Community Development Trust (HCDT), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Delta state government, and other critical stakeholders to ensure the peaceful vacation of the protesters who have blocked access to the terminal and EGTL jetties since Tuesday, November 21, 2023. CNL maintained that it operates in strict compliance with applicable laws and regulations. “As a law-abiding corporate citizen, CNL is committed and continues to make progress in the

operationalisation of the respective HCDTs in compliance with the Petroleum Industry Act (PIA) 2021. “We continue to collaborate with the relevant stakeholders, including community leaders and traditional rulers towards the operationalisation of the HCDTs. “Also, CNL is committed to ensuring the participation of community workers in the EGTL TAM in line with the manpower mobilisation plan,” Brikinn said. Describing as “untrue” reports about some protesters allegedly missing, he claimed that “verifiable reports on ground indicate that none of the protesters are missing”. He reiterated CNL’s priority on the safety of the people, the environment, and assets in all its operations and noted that CNL will continue to engage the relevant stakeholders to resolve the issues amicably. “CNL advocates respect for the rule of law and use of constructive dialogue in the resolution of all issues,” he concluded. The protesters are among others, demanding the renaming of the Warri Kingdom onshore HCDT, involvement in the nomination of additional persons for inclusion on the BoT of the HCDT and mobilisation of their community workers for the EGTL Turnaround Maintenance (TAM) activities. Reacting however, spokesperson of Ugborodo and community leader, Alex Eyengho, said it was convenient for the CNL officials to deny that nobody was missing from the convenience of their offices.

T H I S D AY • MONDAY, NOVEMBER 27, 2023

NEWS

POSTHUMOUS AWARD... L-R: Chief Risk and Compliance Oﬃcer, Nigeria Inter-Bank Settlement System Plc (NIBSS), Temidayo Adekanye; Founder/CEO, AT3 Resources, Tosin Adefeko (both children of late Dr. Femi Adekanye a past president of the Chartered Institute of Bankers of Nigeria (CIBN), and another past president of the institute, Dr. Ralph Osayameh, at the 60th Anniversary celebrations of the institute where they received the post-humous legendary award for their dad at the CIBN Annual Bankers’ Dinner held in Lagos…weekend

Lagos High Court Stops NSE's 2023 Election Bennett Oghifo TThe 2023 election of the Nigerian Society of Engineers (NSE), slated for November 29 and 30, has been placed on hold by a High Court in Abuja. This followed a suit filed at the Federal Capital Territory (FCT) High Court, Gwagwalada Division, by a member of NSE, Joseph O. Akinteye, seeking an injunction to stop the swearing in of a new President of NSE in January 2024. Akinteye, in suit No. CV/158/21, dated 24/11/2023, sought an injunction restraining NSE and three other defendants, Emeka Eze, C. Mbanefo and Mrs. Magaret A. Oguntala, from conducting the 2023 elections slated for 29th and

30th November, 2023 pending the determination of the suit. Eze is Chairman, NSE Board of Trustees (BOT), Mbanefo is Chairman, 2021 Election Appeal Panel, and Mrs. Oguntala is Deputy President, NSE. The claimant, Akinteye, also sought a court injunction restraining Oguntala from parading herself as Deputy President of NSE and her inauguration as the 34th President of NSE in January 2024. The judge, Hon. Justice V.S. Gaba, upon listening to Motion on Notice of Salisu Umar Esq, with A.A. Liman Esq and Charles Ikechukwu Esq. of Reasoning Juris Partners, stated, "It is hereby ordered as follows: an order of interlocutory Injunction

Insecurity: FCTA Charges Traditional Rulers to Comply With Code of Conduct

Olawale Ajimotokan in Abuja

The FCT Administration has charged traditional rulers and community chiefs in the territory to comply with the code of conduct guiding traditional institution. The Director FCTA Department of Security Services, Adamu Gwary, gave the charge during a briefing about the activities of department. His remark was in response to the measures being put in place by FCT Administration to mitigate another case where a village chief was arrested by security agencies for abetting banditry and kidnapping of a traditional ruler two years. According to Gwary, “There are windows we use in ensuring that checks and balances are in place to ensure that no traditional ruler with questionable character or any relationship that we will not raise red flag and the appropriate sanction is meted out even if he happens to be a graded chief. “They know there is a code of conduct for their being there. It has not happened in the FCT that a graded chief was removed but certainly they are aware if they allow such things to happen within their domain they know they will be liable for such an action.” The incident under review occurred in Gwargwada in Kuje Area Council when the chief was kidnapped and another village head was indicted for collaborating with

criminals in the heinous act. Gwary said the indicted chief was neither the paramount ruler nor the district head but someone, who usually led them in prayer. He added that when the report was submitted, the immediate past FCT Minister, Mohammed Musa Bello, directed the Chairman of the Area Council to enforce and make the culprit face the consequences and even demanded the signing of a letter sacking the chief outright. He said the matter was taken to court but nothing much came out of it because the judiciary said there was no enough evidence. “At the end of the day due to the weak system of our laws, you find out that somebody who is involved in that kind of crime is given six months imprisonment and it will start taking effect from the day of his arrest. What this has revealed is that when judgment was passed he must have finished his sentence. These are some of those things that majorly we are facing in terms of prosecution of people who are involved in this kind of crime,” Gwary lamented. He said in the restructured security committee the FCTA now involves traditional rulers in non-kinetic approach, where the district heads meet regularly with the village heads and convey the decision reached at the meeting with the graded chiefs through the Onah of Abaji.

restraining the Defendants, their representatives, agents, privies, the NSE Electoral Panel, conducting the 2013 election or further election of

Nigerian Society of Engineers' Election as slated for the 29 and 30th November 2023 for all the positions as stated in their election time table-2023 pending

the hearing and determination of the claimant's substantive suit before this honourable court.” Among several other injunctions granted, the court

instructed thata a caretaker committee be formed to avoid a vacuum in the leadership of NSE, pending the determination of the substantive suit.

Kefas: Persistent Attacks, Killings in Taraba Worrisome Gunmen kill 11 farmers Wole Ayodele in Jalingo Taraba State Governor, Dr. Agbu Kefas, has described the persistent attacks and killings in several parts of the state by bandits and gunmen as worrisome and unacceptable. The governor, who stated this while reacting to the killing of 11 farmers by gunmen at Yangtu Development Area on Friday, however, reassured the people of the state that he was doing everything humanly possible to bring such carnage to an end. In a statement by his Special Adviser on Media and Digital Communication, Emmanuel Bello, Kefas expressed his heartfelt condolences to the people of Yangtu, just as he called on security agents

to redouble their efforts in ridding the troubled area of all forms of terror. The statement also revealed that the governor has despatched the deputy governor of the state, Alhaji Bello Alkali, and heads of security agencies to Yangtu for an on-the-spot assessment of the situation and seek lasting solutions. The governor further added that his recent visits to all security heads at the Defence Headquarters in Abuja was primarily geared towards attracting the federal government support in the fight against banditry in the state, stressing that security challenges were not restricted to the state as the entire country was reeling under the scourge. To effectively combat the

scourge, Kefas disclosed that the newly elected local government chairmen would be adequately empowered to safe guard lives and properties in their domain while security agents would be provided with modern equipments and technologies in the field to enhance their performance. Meanwhile, the state Police Command has giving the identities of the victims of the attack, which it said were carried out by suspected Fulani's as Saleh Kyatiki 'm' 62yrs; Ephraim Atenji 'm' 45yrs; Mansseh Atenji 42yrs; Hassan Songure, 18yrs; Hope Hassan, 23yrs and Rimamsomtse Lamadi, 32yrs. Others, according to the Command, were Holiness Enoch, 'm' 30yrs; Rimamtsiki Enoch,

26yrs; Egwu Hassan, 22yrs and Rimamdeya Lamadi, 25yrs. They were all said to be of Kuteb extraction. In a press release by the Police Public Relations Officer, Abdullahi Usman (SP), the Command revealed that their corpses were evacuated to the General Hospital in Takum for autopsy from where they were released to their families for burial. The statement further disclosed that the Police Commissioner, Joseph Eribo, has deployed a joint team of anti-kidnapping, a team from MOPOL 67 in Takum and Special Task Force in collaboration with the military to the area while investigation is ongoing to trace the culprits for possible arrest and prosecution.

Creative Economy: Stakeholders Underscore Factors Hindering Creative Industry Growth Mary Nnah Creative industry experts have underlined major issues affecting the growth of the creative sector in Nigeria. According to them, these include piracy, lack of appreciation of intellectual property rights, lack of access to finance, poor distribution channels, low-quality standards, lack of monetisation of content and products, lack of equipment, lack of skills as well as lack of reliable data. These assertions were made during the 2023 Creative Nigeria Summit held at the weekend in Lagos. The event which had the theme, “Investing in Nigeria’s Creative Ecosystem: Unlocking Jobs and Economic Growth”, was presented by GEN Nigeria in partnership with the Enterprise Development Centre- Pan-Atlantic University. Declaring the event open, Director, Enterprise Development Centre (EDC), Nneka Okekearu, said that the opportunities that exist in the creative sector and

its contribution to the wealth and job creation as well as gross domestic product (GDP) cannot be over-stressed. “We have to be well placed to tap these opportunities that are present in media, entertainment, beauty and lifestyle, visual art as well as tourism and hospitality because according to a report, the creative industry in Nigeria contributed $1.8 billion to Nigeria’s GDP in 2020.” The keynote speaker Mr. Charles Odii, represented by Director, Enterprise Development and Promotion, SMEDAN, Monday Ewans, said, “While the creative industry does have its positives, Nigeria does not have strong laws to protect the piracy of material without the consent of the creator.” He said Nigeria's creative industry is thriving; however, the ability to sustain certain aspects of the industry falls short due to weak infrastructure. “Nigeria lacks amenities like steady power within the country to effectively grow the creative sector optimally,” he added. On the role of government,

Ewans said, “The government can facilitate startup or business support grants/loans, to entrepreneurs in the creative industry under a prescribed criterion.” However, he said “It is important at this point to acknowledge the fact that the federal government had launched $618,000, 000fund early this year under the digital and creative enterprises, adding that “it is also important to ensure that all eligible entrepreneurs under this programme have unhindered access to the fund in order to achieve the desired objectives.” Joshua Adedeji, Country Lead, Global Alliance African, who spoke on leveraging tech in a creative space said to address technology deficiency in the creative industry, people must be able to embrace tech wholesomely. He advised the government to look again at the educational curriculum to introduce people to technology early. “People are afraid of Artificial Intelligence but AI won’t take anyone’s job. Some jobs will disappear and new ones will emerge.

We also need to look again at our educational system because we need to work a balance of learning and practical in schools,” he added. The summit endeavours to unite industry experts, innovators, policymakers, and entrepreneurs in strategic conversations aimed at propelling Nigeria's creative sector, fostering economic advancement, and creating abundant employment prospects. The summit also facilitated dynamic discussions and interactive sessions encompassing examining creativity's role in economic development, nurturing collaboration and partnerships in creative ventures, harnessing technology and innovation in the creative sphere, empowering diversity and inclusivity in creative industries embracing sustainable practices and predicting future trends in creative entrepreneurship. Furthermore, the summit also served as a nexus for fostering collaborations and forging vital connections among stakeholders, igniting innovation and driving growth within the creative realm.

T H I S D AY • MONDAY, NOVEMBER 27, 2023

NEWS

MINISTER LOKPOBIRI VISITS WALTERSMITH REFINERY IN IBIGWE... L-R: Executive Secretary, Nigerian Content Development & Monitoring Board (NCDMB), Simbi K. Wabote; Chairman, Waltersmith Group, Abdulrazaq Isa; Minister of State for Petroleum Resources (Oil),Heineken Lokpobiri and Managing Director/Chief Executive Officer, Bank of Industry (BOI), Olasupo Olusi during the official visit of the Minister to Waltersmith Refinery in Ibigwe, Imo State....recently.

ECOWAS Court Gives Judgment on Press Council’s Inconsistency with Rights Law Michael Olugbode in Abuja The ECOWAS Court of Justice, has delivered its judgment in a case brought by two Nigerian journalists alleging the Nigerian Press Council Act of 1992 was discriminatory and violated their right to freedom of expression. In its judgment delivered by Hon Justice Dupe Atoki, Judge Rapporteur, the Court declared that Sections 19 (1)(a), 27 and 37 of the Nigerian Press Council (NPC) Act failed to recognise public interest media including rights of online and citizen journalists thereby violating Article 9 (1) of the African Charter on Human and Peoples’ Rights (ACHPR), and Article 8 (1) and 10 (2) of the Declaration of Principles on Freedom of Expression in Africa. The court, therefore, ordered the government of Nigeria to amend these contested Sections to align with international practices that promote free, pluralistic and professional journalism, and went on to dismiss other claims that were

not substantiated. The case with suit number ECW/ CCJ/APP/31/21 was filed on 14 June 2021 by lawyers representing the Applicants – Mr Isaac Olamikan and Mrs Edoghogho Ugberease online and citizen journalists, who practise journalism for the promotion of freedom of expression, opinion, and access to information. In the application, they claimed that Sections 19(1)a, 27 and 37 of the Nigeria Press Council Act of 1992 requiring journalists to be at least 18 years and accredited by the NPC, 25 years to be an editor with working experience in reputable media organisation or news agency and registered with the Nigeria Union of Journalists, discriminated against them. The Applicants’ lawyers led by Mr President Aigbokhan argued that these sections failed to recognise public interest media such as the rights of online and citizen journalists and were therefore discriminatory and violated their right to freedom of expression as

guaranteed under Articles 2 and 9(1) of the ACHPR, Article 19 of the Universal Declaration on Human Rights (UDHR), Articles 2, 10 and 19 of the International Convention on Civil and Political Rights (ICCPR) and Article 8 (1) and 10 (2) of the Declaration of Principles on Freedom of Expression in Africa; and breached the State’s obligation under the ECOWAS Treaty among other cited texts. “For example, Section 37 of the Press Council Act, puts the minimum age to practice journalism as 18 years of age, while to be qualified as an editor, requires a minimum of 25 years of age. Sections 19(a) and 27 of the Act imposes educational qualifications and compulsory courses of attendance and training before a person can be recognized and allowed to practice as a journalist,” the judgment stated. They also submitted that they were arrested separately at different locations while investigating and gathering information for their work,

and that their arrest and detention were unlawful and violated their rights. The Applicants asked the Court to order the Respondent to amend the contested Sections of the NPC Act to align with international practice and pay 1,000,000 (one million) USD as damages. On their part, the Respondent’s lawyers Mrs Maimuna Lami Shiru and Mrs B.J. Oladipo told the Court that ‘journalism is a sensitive profession requiring mastery as well as regulation to prevent negative effect, adding that rights to information and freedom of expression are not absolute.’ The Respondent denied arresting and detaining the Applicants unlawfully, stating that the first Applicant was arrested because his action had national security implications while the second Applicant operated illegally. In reaching its decision, the Court noted the impact of technology in the evolving media space with the advent of citizen journalists,

Fiscal Responsibility Act: CSOs Hail Move By NASS to Initiate Amendment Ndubuisi Francis in Abuja Civil Society Organisations (CSOs) have applauded move by the National Assembly, NASS, to commence the process of amending the Fiscal Responsibility Act (FRA), 2007, noting that such amendment would check corruption and plug revenue leakages in the Ministries, Departments and Agencies (MDAs). They urged the 10th National Assembly to go beyond mere expression of commitment to actually achieve the desired objective of amending the FRA, unlike its predecessor, which failed to pass the amendment bill after several efforts by stakeholders. The amendment targets empowerment of the Fiscal Responsibility Commission (FRC) to enforce the provisions of the law through sanctions on federal MDAs, especially with respect to lack of

compliance with financial reporting standards, reckless misapplication of internally generated revenues and non-observance of due process in public borrowing. In a statement made available to THISDAY, a cluster of CSOs led by OrderPaper Advocacy Initiative implementing the Growth Initiatives for Fiscal Transparency (GIFT), hailed the lawmakers for steps being taken to amend the very important law. The statement jointly signed by the Executive Director of OrderPaper, Oke Epia and Faith Nwadishi, Executive Director of Centre for Transparency Advocacy (CTA), urged the 10th National Assembly to see through the FRA amendment in order to bolster the efforts of President Bola Tinubu's administration to reform the country’s public finance architecture. They recalled that while

approving the 2024-2026 MediumTerm Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) submitted by the president about three weeks ago, the National Assembly harped on the amendment of the FRA 2007 as one of the measures to check corruption, block revenue leakages and waste of scarce public resources. They recalled that at the plenary on Thursday, the Senate and House of Representatives adopted the report of the Joint Committees on Finance, Appropriations, National Planning & Economic Affairs, and Local & Foreign Debts. "After outlining its findings, the joint committee recommended, among others, that “the National Assembly commence the process of amending the Fiscal Responsibility Act (FRA, 2007) in order to enhance the agency’s ability to enforce fiscal responsibility and impose sanctions

on erring corporations specifically, with regards to Sections 21 (1) and 22 (1) (2).” "While noting that “a significant number of the federal government’s revenue-generating agencies engaged in arbitrary, frivolous and extrabudgetary expenditure,” the National Assembly joint committees observed that “most of the revenue agencies violate the Fiscal Responsibility Act 2007 due to the lack of punitive measures in the Act.” "According to the report, some revenue-generating agencies, without recourse to the National Assembly, were involved in Joint Venture Agreements particularly, in the oil and gas, and power sectors, which has not only committed the Federal Government to a $40 million monthly TAKE OR PAY agreement but subjects Nigeria to huge international arbitrations," the CSOs noted in the statement.

influencers and content creators who share news, commentary, and analysis on social issues. Though not qualified in traditional sense, they contributed to shaping public opinion. It drew inspiration from young activists notably Malala Yousafzai and Greta Thunberg, who in their teens integrated online media in their advocacy and have attained world recognition through a free

and unrestricted opportunity to gather information and express opinion. Regarding the Applicants’ claim of unlawful arrest and detention, the Court noted that the Applicants did not prove their arrest was unlawful. Consequently, the Court dismissed their claims of unlawful arrest and request for compensation. Both parties were ordered to bear their costs of litigation.

Abia Ready to Partner Multilateral Agencies to Reconstruct 248.46km Roads, Says Otti Emmanuel Ugwu-Nwogo in Umuahia The governor of Abia State, Dr. Alex Otti, has expressed his government’s readiness to partner multilateral organisations to enable the state reconstruct 248.46 kilometers of roads across the state. The proposed road rehabilitation programme would be implemented under the Abia State Integrated Infrastructure Development Project (ABSIIDP), coordinated by the office of the Senior Special Assistant (SSA) to the Governor on Multilateral and Donor Agencies, Mr. Odinaka Eric Eme. Otti told a delegation of the Federal Ministry of Finance, led by Dr. Oyebola Akande, an Assistant Director in the ministry, that Abia was eagerly awaiting the commencement of the project. To assure the FMF delegation on working visit of Abia's willingness to partake in the programme, the state chief executive said that he won't allow the issue of funding to stand on the way. He said: “If it requires leveraging, whatever, we have to raise the fund. We will raise the fund because we believe that it is better to do what we have to do now than wait for tomorrow, because you will still spend the money. If you wait till tomorrow you will spend more. “For us, it makes more sense even if we have to borrow today to deliver the dividends of democracy to our people and then we will think of repay in due course".

Otti underscored the importance of ASIIDP, noting that many communities would benefit from the programme hence the need to make haste due to the rising and unstable exchange rate and inflation. Leader of the delegation, Dr. Akande, commended Governor Otti for starting his governance on a good note, saying that he had achieved so much short period he assumed office. “I was impressed because if you come into governance and within or less than one year you have moved to site, it shows that you really want to affect the people of Abia (positively)," she said. Akande told the governor that Abia has so much to gain by keying into the infrastructural development project given the impact of good road network on the economy “I do not have any doubt that this project will add value to your governance because road is essential," Akande stated, adding, that without roads government would not really achieve. The SSA on Multilateral and Donor Agencies explained that ABSIIDP is a multi-sector endeavour targeted at contributing to the socio-economic development and poverty alleviation in Abia State. According to him, the objective would be achieved through the reconstruction of priority roads in Aba and Umuahia; intervention on gully erosion sites in Umuahia and Obingwa; and solid waste management system intervention in Umuahia and Aba.

T H I S D AY • MONDAY, NOVEMBER 27, 2023

NEWS

LAUNCH OF Y2024 MOBILE ADVERT PERMIT AND BRAND AWARENESS... L-R: The Permanent Secretary, Lagos State Ministry of Information and Strategy, Mr Olumide Shogunle; Director Public Affairs, LAWMA, Mrs Folashade Kadiri; the PS, Ministry of Science and Technology, Lagos, Mrs Ibilola Kasunmu; the MD/CEO, Lagos State Signage and Advertisement Agency (LASAA), Prince Fatiu Akiolu; Director, Administration and Human Resource, Min. of the Environment & Water Resources, Lagos, Mr Adeyinka Benjamin; Director, Sanitation Services, Office of Environmental Services, Lagos Ministry of the Environment and Water Resources, Dr Hassan Sanuth; the Executive Secretary, Lagos Water Regulatory Commission, Mrs Funke Adepoju; and the GM, LASPARK, Mrs Adetoun Popoola during the launch of Y2024 Mobile Advert Permit and brand awareness programme in LASAA, in Lagos…Friday

HURIWA to AGF: Corruption in Judiciary Can't Be Hidden Like Pregnancy Chuks Okocha in Abuja Following a caution by the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, against attacks on the judiciary, a civil rights group, Human Rights Writers Association of Nigeria (HURIWA), has urged the government to desist from living in denial about the pervasive corruption in the judiciary. HURIWA said the menace of

corruption, bribery and influence peddling in the justice sector was now like a nine months old pregnancy of an expectant mother that could not be hidden from public perception. In a statement, the national coordinator of HURIWA, Emmanuel Onwubiko, recalled that Fagbemi had warned politicians not to blackmail the judiciary by accusing judges of corruption on Friday while speaking to reporters at his

residence in Ijagbo community, Kwara State. Onwubiko said Fagbemi also appealed to politicians, who lost in the 2023 election not to throw caution to the wind and start blackmailing the judiciary. HURIWA faulted the justice minister and reminded him of the corruption perception index of judges, which was unprecedented and unacceptably high. HURIWA reminded the minister that his counterpart

in the federal cabinet, Minister of the Federal Capital Territory (FCT), Nyesom Wike, had said publicly that he received a directive from President Bola Tinubu to allocate lands to judges and officials in other arms of the federal government. The rights group told the justice minister that Wike made this known during a meeting with Chief Judge of the Federal High Court, Justice John Tsoho, where he pledged

Atiku Charges AUN to Solve Nation’s Economic Challenges Daji Sani in Yola Former Vice-President Atiku Abubakar, weekend, said the American University of Nigeria (AUN) has attained its adulthood since it establishment 19 years and can now be given responsibilities to solve some the nation challenges. Atiku made the disclosure at AUN Founder's day and his 77th birthday celebrations held by the institution in Yola, Adamawa State capital, to honour him The former Vice President, who happened to be the founder of the AUN, said the institutions was never intended to be just another university, but that there was a vision and purpose that set

it apart and gave it true meaning and relevance. “It is important that that vision is realised and that the university serves its purpose for generations to come,” he said, adding that the vision was to build a development university providing Americanstyle education, which emphasisedcritical thinking and problem-solving. “A development university, unlike the traditional university sees itself as an active partner in economic development and the process of nation-building. "It also uses its enrolment procedures and its shared intellectual and cultural environments to consciously

promote the goal of nationbuilding. The goal would be the education of Africa’s future leaders." he said He said the university has put in place the ingredients for the beginning of the realisation of that vision such as necessary infrastructure, huge amounts of financial resources, world class faculty, more than adequate land for expansion and other ancillary uses. "Are you still keeping faith with American-style education that distinguishes AUN from others? Is the university continuing to consciously engage in practices that contribute to the country’s economic development and nation-building? How

can you do these with limited resources? “What are your strategies for doing so without a large contingent of American faculty? How can you attract Americantrained faculty from across the globe? What are your strategies for training and re-training your own faculty to understand and transmit the American style of teaching and learning? "If you carry out that selfexamination, that stock-taking, you will agree with me that there is a need to return to the founding vision of the university. In its relatively young history, AUN has had a relatively high turnover of leaders, especially Presidents."

Lack of Patriotism, Major Evil Bedeviling Nigeria, Says Senate Clerk Okiro says govs will kill state police if created Sunday Aborisade in Abuja The Clerk to the Senate, Mr. Chinedu Akubueze, has identified lack of patriotism among Nigerians as a major ill bedeviling the country. Akubueze stated this at the 2023 Convention of the Old Seminarians Association of Nigeria (OSAN), he hosted in Abuja at the weekend. Akubueze said, "The Nigerian society is bedeviled by selfimposed ills, occasioned by our lack of collective sense of patriotism which, ordinarily should emphasise love for the nation rather than undue recourse to ethno-religious cleavages and clannish leanings. "Here in OSAN, we are set to

chart a new course of national consciousness aimed at cementing the bonds that hold us together as Nigerians rather than the dissimilarities that tend to tear us apart. "Our sense of fraternity is one that recognises the fact that we are of diverse ethnic extractions, yet, bonded together by a common heritage, a scenario that has helped in fostering love, camaraderie and collective sense of responsibility and purposefulness within our rank and file. "Of course, we have no doubts whatsoever that OSAN is an Association whose future prosperity is guaranteed, a brotherhood of likeminded individuals whose members

would, within the next few years, seize the opportunities open to them to advance their wellbeing as well as that of the larger Nigerian society. "To actualise our dreams within a record time, all hands must be on deck. We must pull resources together, both human and material in order to create a prosperous and glorious future." Also, speaking with journalists at the occasion, a retired Inspector General of Police (IGP), Mr. Mike Okiro, said the decentralisation of the Nigeria Police Force would not achieve its desired objective because the factors that led to its failure in the past have not been addressed. The former IGP, who is also

an old seminarian, went down memory lane to explain the advent of the Nigerian police, explaining that authorities of the sub-regional institutions had their own police separate from the ones being controlled by the central government. Noting that the state police idea might not work due to paucity of funds at both the state and local government areas, he wondered how the states and local government areas that could not effectively pay the salaries of their workers would be able to fund their own police. Okiro, however said the only way the state police could work was for Nigeria to embrace the Canadian model.

to put infrastructure in place before land allocation in the FCT. HURIWA alleged that Tsoho had requested the minister to consider the judiciary in the allocation of lands.

Tsoho lauded Wike for supporting the judicial arm, noting that during his tenure as Rivers State governor, the well-being of judicial officers was prioritised.

APWEN Inaugurates Victoria Island Executives to Advance Female Engineers Devt Funmi Ogundare The Association of Professional Women Engineers of Nigeria (APWEN), weekend, inaugurated the first Chairperson, Dr. Comfort Afella and other executives of its Victoria Island chapter, to further advance the professional development of practicing female engineers, technologists and scientists. Speaking at the ceremony held in Lagos, themed, 'Renewable and Sustainable Energy: Impact In the Nigerian Oil and Gas Sector', the President of the association, Dr. Jumoke Eterigho commended the chairman of Nigeria Society of Engineering (NSE ) Victoria Island, Aji Ezekiel Agbu, for his efforts in ensuring the establishment of the association in the chapter. She stressed on the theme of the lecture saying that it is apt, considering the fact that Nigeria which traditionally relies on oil, faces both challenges and opportunities as it navigates the global shift towards cleaner energy sources. Her words: "The impact of incorporating renewables is multifaceted. Embracing sustainable energy practices makes us as a country to align with global environmental imperatives. Nigeria, like most nations, must address climate change concerns by reducing carbon emissions." She explained that transitioning to renewable energy not only mitigates environmental impact, but also positions us as responsible stewards of our planet. "Economically, diversifying our energy portfolio is crucial. The volatility of oil prices underscores the vulnerability of a mono-economy," Eterigho stated, while appealing to the executives of the chapter, to work as a team to achieve a solid foundation for sustainability of the chapter. The Guest Speaker and a Talent

Developer, Total Energies Marketing Nigeria PLC, Mrs. Augustina Eseyoma Ojiyovwi, who emphasised on the theme, described energy as that which plays a vital role in the progress of the economy. She stressed the need for collaborations between stakeholders and oil and gas companies, adding that government should begin to think of using the tax paid by Nigerians to build energy-producing wind turbine for the betterment of the country. "We have different turbines which produce energy stored for future use, "she said, adding that government should be deliberate about renewable energy. "It's just like building a tank farm. It involves a lot of cost, but people will pay for the energy generated and have their supply regularly. It will be affordable. So if we have enough of these technologies with the right expertise and we are deliberate about it, we can get there." Speaking with journalists, Dr. Comfort Afella, explained that APWEN has the objective of encouraging girls to go into STEM and that it would continue to go to schools to create awareness and share their success stories and the benefits of being an engineer with them. She stated that her administration plans to encourage women engineers around Victoria Island, Ikoyi, Ajah and Epe environs, to ensure that the goals and objectives of the association are met, as well as engage them to know what their challenges are. According to Afella, "In its 40 years of existence, APWEN has embarked on a mission to increase the number of women practicing engineering in Nigeria and also collaborated with various advocacy groups to progressively and consistently inspire young girls into engineering and science.

MONDAY NOVEMBER 27, 2023˾ T H I S D AY

,NEWS

CSR IN ACTION…

L-R: Head, Media, Canoe Friends Association(CFA), Chigozie Ozigbu;Head, Welfare, CFA, Izuu Chukwuemeka; Provost, CFA, Adrian Nwokeji; President, CFA,Odera Eke; Divisional Police Officer, Maroko Police Division, CSP Raji Ganiu; Founder, CFA, Adiza Nwakuche; Divisional Crime Officer, Maroko Police Division, SP Godwin Okoloko; Scribe, CFA, Michael Nweke ; Head, Socials, CFA, Davidson Ndubueze, and Head, Investments, during the inauguration of an office block donated by CFA to the Maroko Police Division, in Lagos…recently

Kano Women Protest Appeal Court’s Judgment, Urge FG to Stop Interfering Ahmad Sorondinki in Kano Hundreds of women in Kano have marched to the State Police Command to protest the recent Court of Appeal judgment that nullified the election of Abba Kabir Yusuf. The women carried placards condemning the judgment and

urged the federal government to stop interfering in the Kano court case between the New Nigeria Peoples Party (NNPP) and the All Progressives Congress (APC). Some of them sang songs in support of Governor Abba Kabir Yusuf and protested the alleged injustice done to the people of Kano state by the

appellate court. The demonstrators, who began their march from the residence of former governor Rabiu Musa Kwankwaso at

Anambra State Governor, Professor Chukwuma Soludo, has reiterated his earlier call for indigenes of the state living in the diaspora to bring home part of their investments. Soludo made this call during the ground breaking ceremony of Paradise City Estate in EnugwuAgidi, Njikoka Local Government Area. He said: “Our people living within and outside Anambra should bring their wealth home by providing shelter, industries and others. “Most of the investments you see in most parts of Nigeria are owned mostly by Igbo people. A

large number of them are from Anambra. We want our people to come home and let us develop our state.” The governor held stakeholders meeting with indigenes of Anambra State living in Abuja, Lagos and Port Harcourt earlier in the year where he advocated that they should bring home part of their investments. Soludo, who was represented at the ceremony by the Managing Director and Chief Executive Officer of Anambra Broadcasting Service (ABS), Hon. Chido Obidiegwu, praised the management of Dotland Property Development Company Limited, owners of the estate for heeding the call to invest at home.

Hensard Varsity to Produce Entrepreneurs, Says VC The Vice-Chancellor of Hensard University, Professor Dileep Kumar, has said the private university is poised to give unique training to its students that will transform them to entrepreneurs and wealth creators on graduation. He noted that one of the ways to address the challenge of unemployability of graduates in Nigeria was to equip students with industry-oriented skills in line with international standards, Kumar said is readily available to Hensard students. The Vice-Chancellor in a statement made available to newsmen in Abuja, said the

university located on River Forcados in Toru-Orua, Bayelsa State, has brought distinct innovations to higher education in Nigeria. He said the University would foster collaborations and partnerships with reputable universities, institutions, and industries in ensuring the students draw from sources of knowledge from several points. He also spoke on Global Student Exchange Programme under which Hensard students would attend lectures in universities abroad as part of the dual certification process.

A coalition of youth groups and

country’s democracy is under serious threat.

YinkaKolawoleinOsogbo

Governor Ademola Adeleke of Osun State has declared that his administration has surpassed the annual good governance target it set while assuming office on November 27, 2022. Adeleke made this assertion in

The coalition which includes; the South-south Routine Movement, Rivers chapter; Delta Youth Movement for Good Governance; Bayelsa Routine Movement, among others also accused the political class of using the judiciary as a tool against the people.

The coalition made the assertion yesterday in Port Harcourt, while speaking on the current developments relating to democracy, economy and the rule of law in the country. Speaking on behalf of the coalition, the spokesperson for the Bayelsa Routine Movement,

Mr. Podoki Austin, said the last elections in Bayelsa, Imo and Kogi were alleged evidence of how the system have been affected badly, stressing that electoral umpire has not been able to show that it can deliver a free, fair and transparent election in the country.

a special interview he granted to journalists before embarking on his working vacation. He said: “When I assumed office, we had benchmarks and deliverables according to each sectors. Our team sets milestones to achieve in health, education, infrastructures, ICT, agriculture,

youth, women and others. I looked back and I can tell you we performed beyond our plans. “The opposition APC is still nursing the wound of their electoral defeat. So the party is ashamed to see the positive changes we are recording in the state. Our achievements are there for all to see.

“In the road sector, we reconstructed a total of 90 kilometers of roads with another 45 kilometers ongoing. We completed key intercity roads like the Ikirun-Osogbo Road while Iwo-Osogbo Road is ongoing. We completely rehabilitated 31 schools with another 31 in the pipelines.”

‘Nigeria Needs Character Reforms for Credible Elections’ John Shiklam in Kaduna

The Executive Director of YIAGA Africa, Samson Itodo, has said that Nigeria needs character reform to ensure credible elections. Speaking in Kaduna at a conference on “Electoral

accountability and democratic stability,” Itodo said the political class believes that elections cannot be won without disrupting the process and bribing the judiciary. Itodo alleged that the Independent National Electoral Commission (INEC) had been

captured by politicians for their political ambition and called on Nigerians to do everything constitutionally possible to reclaim the commission. He said: “What we are grappling with, is institutional capture. INEC has been captured, we have said this

several times. “There is a reason why politicians are appointing individuals into INEC. Do you think it is accidental? No, it is for a particular reason”, he said. According to him, “The most important reform that Nigeria needs is character reform.

Police Rescue Two Kidnap Victims, Arrest 18 Suspects in Benue GeorgeOkohInMakurdi Operatives of the Benue Police Command have rescued two traders who were kidnapped at a market in Mchia Logo Local Government Area of Benue State. According to a release by the Police Public Relation Officer (PPRO)

Catherine Anene, on 23/11/2023 at about 1800hrs information was received at Logo Police Division that a group of bandits armed with dangerous weapons mobilised and invaded a market at Mchia, Logo Local Government Area and kidnapped two traders. She said upon receipt of this

information which was relayed to Police Headquarters Makurdi, the Commissioner of Police, Benue state command, George Chuku, ordered the deployment of tactical teams to raid the area and ensure that victims were rescued. “On 25/11/2023 the police team stormed a hideout where

the two victims were rescued at the compound of Zaki Tule Nyam, a tax collector.” The victims stated that they were held hostage and their families were given one week to source for N10 million and pay as ransom before their release before the arrival of the police.

Niger NUJ Condemns Commissioner’s Assault on Journalist in Minna Laleye Dipo in Minna The Nigeria Union of Journalists

anniversary. He said at the core of its establishment, ‘is the aim to manifest the need for humanness in the wheels of life.” “Its CSR drive seeks to engender great footprints in the security, health, education and environment spheres “The association chose to kick-start its security outlook with support for the Nigeria Police Force, Maroko Division Lagos.”

The women, most of whom wore red veils, converged on the Police Command Headquarters and demanded to see the Commissioner of Police (CP) Usaini Gumel.

Adeleke: We ‘ve Surpassed Our Targets on Good Governance Deliverables

Niger State Chapter, has Association Donates Office Block (NUJ) condemned in the strongest terms weekend’s attack on the Voice to Maroko Police Division last of America’s correspondent in

As part of its corporate social responsibility(CSR), the Canoe Friends Association(CFA) founded in 2018, has inaugurated an office block for the Maroko Police Division in Lagos State. A statement by the Secretary, Michael Nweke, said the inauguration of the office block for Maroko Police Station is part of activities lined up to mark the association’s fifth

Bompai area, the protesters were intercepted by teams of armed police officers and personnel of the Nigeria Correctional Service.

Coalition Knocks Politicians over Abuse of Judiciary, Says Democracy Under Threat

Blessing Ibunge in PortHarcourt

organisation Soludo Restates Call for Anambra non-governmental in the South-south has lamented level of deterioration in the Indigenes to Invest at Home the Nigerian system, saying that the David-ChyddyElekeinAwka

Miller Road, had the intention of going to the state Police Command Headquarters in the Bompai area. However, on their way to the

Minna, Mr. Mustapha Nasiru Basari, by the Commissioner

for Homeland Security, Mr. Bello Mohammed Abdullahi. Abdullahi was said to have attacked and assaulted Basari when he approached him for the confirmation of the story on the crisis at Beji Market last Wednesday. The incident reportedly took

place at the Government House after the correspondent made unsuccessful attempts to speak to the commissioner on the phone. Basari had narrated that it took the intervention of people around to rescue him from the commissioner who “threatened his live” and tried to confiscate

his recording gadget despite not recording their conversation. The State Chairman of the NUJ, Mr. Abu Nmadu, condemned the commissioner for “attacking and assaulting” the journalist “who is carrying out his lawful mandate to the society.”

Enugu APC Kicks against Appointment of Nwoye as Chief of Staff Gideon Arinze in Enugu

Stakeholders of the All Progressives Congress (APC) in Enugu State have kicked against the appointment of a former state chairman of the party, Ben Nwoye as

Chief of Staff to the National Deputy Chairman North of the party, Ali Dalori. The stakeholders said that Nwoye was not deserving of a position having involved himself in antiparty activities, including

his decision to publicly support and campaigned for the Peoples Democratic Party, (PDP) in Enugu state during the 2023 general elections. In a communique issued at the end of their meeting

yesterday in Enugu, the stakeholders noted that by appointing Nwoye as his Chief of Staff, Dalori was bringing “an unrepentant mole shamelessly beholden to the opposition into the heart of the party.”

T H I S D AY • MONDAY, NOVEMBER 27, 2023

BACKPAGE CONTINUATION A TRAUMA WITH FEW EQUALS losses at the courts, as Kano APC activist Binta Spikin recounted at the weekend. They include the Supreme Court’s handing over Bayelsa governorship to PDP’s Duoye Diri just when APC’s David Lyon, who was victorious in the 2019 elections, was already at the parade ground inspecting preparations for his scheduled swearing-in the next day! It reminded me of what former ANPP national chairman Dr. Ogbonnaya Onu once said when I asked him about how he lost his 1999 presidential nomination: “You don’t pray for that to happen even to your enemy.” Gubernatorial casualty figures in this Republic, and especially in the 2023 election cycle, have been high compared to all previous cycles but one. In the Second Republic between 1979 and 1983, only four governorships prematurely ended in the whole country. One was Governor Abdulkadir Balarabe Musa of old Kaduna State, who was impeached by his State House of Assembly in 1981. The second was Governor Shehu Kangiwa of old Sokoto State, who tragically died in a polo accident, also in 1981. And then in 1983, in the run up to that year’s elections, Governors Mohammed Abubakar Rimi of old Kano State and Abubakar Barde of Gongola State both resigned from office. The reason was that Federal Electoral Commission [FEDECO], which in those days was quite partisan, refused to register the Progressive Peoples Party [PPP], a proposed merger of UPN, NPP, a GNPP faction supported by its two state governors and a PRP faction led Chief Michael Imoudu and supported by Governors Abubakar Rimi and Abba Musa Rimi of Kaduna. They had planned to fight the ruling NPN in the 1983 elections under PPP’s umbrella.

PRP’s registration certificate was held by Malam Aminu Kano’s Tabo faction while GNPP’s registration certificate was held by Waziri Ibrahim’s faction. Kaduna State Governor Abba Musa Rimi decided not to seek re-election, so for Abubakar Rimi, Barde and Borno State governor Muhammadu Goni, who sought re-election, their only option was to defect to either UPN or NPP. Rimi and Barde joined NPP; Rimi explained that NPP presidential candidate Dr. Nnamdi Azikiwe was an easier sell in Kano than UPN presidential candidate Chief Obafemi Awolowo. Goni however opted for UPN because, it was said, the traditional joking relationship between Kanuri and Yoruba made it easier to sell Awolowo in Borno. Who knows? Was that why Chief MKO Abiola chose Ambassador Babagana Kingibe as his running mate while President Tinubu chose Senator Kashim Shettima as Vice President, the same calculation that Goni made in 1983? Anyway, Rimi lost to Sabo Bakin Zuwo; Barde lost to Bamanga Tukur while Goni lost to Asheik Jarma, all of them of NPN. The military however sacked all the governors in December 1983, some of them after only three months in office. In the Third Republic years 1992-3, none of the 30 state governors lost his seat until General Sani Abacha sacked all of them in November 1993. Since IBB was still in power at the federal level during their tenure, talks of impeachment or godfather maneuvering were absent in that Republic. When governorship seats again became open to civilians six years later in 1999, three of the Third Republic governors managed to return, namely Segun Osoba of Ogun, Jolly Nyame of Taraba and Abubakar Audu of Kogi.

Since 1999, we have had more cases than I can count of governors losing their seats variously through impeachment, loss of primary election within their own party [I think there was only one case, Anambra’s Mbadinuju], numerous defeats in general elections and then through court cases. One sitting governor, Mamman Bello Ali of Yobe, died in this Republic, but no voluntary resignation. The largest number of court cases upturning governorship mandates occurred after the 2007 election, when PDP governors of Edo, Ondo, Osun and Ekiti were all removed by tribunals. In Ondo, a Labour Party candidate took over while AC candidates took over in the other three states. Plus, the dramatic Hope Uzodinma take over in Imo in 2020. Apart from prematurely losing the president’s chair, as occurred twice in this Republic [President Umaru Yar’adua’s death in 2010 and President Jonathan’s election defeat in 2015], nothing is more traumatic in Nigerian politics than prematurely losing a governor ’s chair. In such a situation, hundreds if not thousands of other officials have their positions immediately imperiled, including commissioners, special advisers and assistants, many permanent secretaries and heads of agencies, local government chairmen and councilors, chairmen and members of boards, state assembly leaders as well, not to mention contractors, marabouts and even traditional rulers who owed their appointments to political connections. Even if PDP loses one or two governorships through the courts, it still has nearly a dozen others left. NNPP and Labour Party, which grabbed only one governor each in the 2023 polls, will however suffer double trauma were they

to lose the seats. Right now NNPP has only one legal chance left to salvage its lone governorship seat, i.e. appeal to the Supreme Court. Its supporters are however trying other means, such as street demonstrations and lavish red-cap receptions for Governor Abba when he returned to Kano from Abuja. Whether that is enough to impress Supreme Court justices, remains to be seen. Without this lone governorship, NNPP will have a hard time indeed keeping its house intact, which requires a lot of patronage. Its controversial agenda of hastily demolishing whole duplexes on the allegation that Ganduje’s administration improperly shared out the lands to cronies, the threat to dissolve the new emirates that Ganduje created, and even Kwankwaso’s public pledge that Abba will “revisit” the former Kano Emir’s deposition, added to the Kwankwasiyya movement’s stock of powerful enemies. A change in Kano’s governorship from NNPP to APC, if Supreme Court upholds it, however promises to be a messy affair. NNPP’s leader Rabi’u Kwankwaso, whose standing in Nigerian politics rests very much on his control of the key state of Kano, could have his future in politics imperiled and might have to rest his presidential ambition. Even if he is not running for president again, his bargaining power ahead of 2027 could be very much weakened if the Kano governorship is lost. On the other hand, his bitter rival Abdullahi Umar Ganduje’s hand will be greatly strengthened by the double victory of becoming APC national chairman and regaining control of Kano State Government through his former deputy, Gawuna. To borrow Dr. Onu’s saying, I don’t wish political trauma on anyone.

letter to the lawyers inviting them to apply to correct the errors? Second, why will this clerical error be made at the most essential part of the judgement declaration? Does this smell, taste and feel like human error rather than a deliberate attempt at mismanaging the judicial process? These raises concerns about the industry, quality of judgement, and integrity of the judiciary and men on the Bench. It is time we explore an alternative forum (Specialist Court) for resolving election disputes or narrow down the grounds on which elections are disputed. In the 2023 general elections, there were gubernatorial elections in 29 states, Houses of Assembly elections in 36 states, and

NASS in all constituencies. Disputes arose from almost all these elections. In some cases, multiple parties filed petitions. Given the timelines prescribed in Section 285 CFRN, all these cases arrived at the Court of Appeal at about the same time and are to be determined within the same time frame - a point of thousands of court cases to be determined by a Court consisting of 81 judges (not all 81 would participate) in approximately 60 days. This timeframe covers the period for filing briefs and hearings; in most cases, they are left with barely a week after the hearing of the appeal. With this workload, should we expect justice from the Court of Appeal? Are the mistakes not inevitable? No one advocates for the injustice inflicted on hundreds of thousands of citizen litigants, whose matters have been abeyance until all political matters have been resolved. Second, this 'error' has created a potential constitutional quagmire. The supposed error is contained in the dispositive part of the judgment. Regardless of the content of the judgment, it is the court's final disposition that is enforceable. What happens if the NNPP and Governor decide not to appeal and insist that the final disposition favours them? This is an opportunity to fight against judicial misconduct, negligence and sloppiness . The police and the anti-graft agencies should not wait for an invitation or petition; they should investigate this. Regrettably, the erosion of the independence, integrity and reputation of the Judiciary is a critical aspect of the collapse of our democracy and the rise of impunity and authoritarianism. These signs are ominous because the failure of the Judiciary is the end of law and order and the genesis of anarchy. Unless the Judiciary is reformed and maintains its integrity, and independence, democracy dies. Members of the Legal profession, especially the Bench, must reflect on the consequences of their actions on society, especially the health of our democracy. All stakeholders must urgently interrogate how the Judiciary , which is supposed to protect and give us justice, became so vulnerable.

DARK CHAPTER FOR THE JUDICIARY work; some live billionaires' lifestyles, making people wonder how they come about the money they are spending. It is public knowledge that judges clamour for jobs in the election petition seasons, and evidence abounds that some of the judges' lives change overnight after the election petition assignment period. We have proof of some judges being indicted and punished for corruption in the electoral judicial cases saga, but that has not deterred others from engaging in such dastardly art. The third reason is the panoply of unethical conduct among judicial officers and the slow conduct of cases, especially during electoral adjudication periods. Judicial accountability is far fetched . Justice delayed is tantamount to justice denied. Most Nigerians will shy away from our Judicial system because of the delay in the court process and the recklessness of ending cases mostly on technical issues rather than substantive ones. This has been made worse by the politicisation of the Judiciary to the extent that some stakeholders call it the "capture of the Judiciary " by politics. Judges are supposed to be politically neutral and objective, contributing to maintaining a democratic state without bias. However, we notice the involvement of some judges in politics, or their close family members are politicians or politically exposed, and therefore put undue pressure on them and the judicial system. Conflict of interest issues are seen, and politicians use all means necessary to maintain a firm hold on these judges. The most recent example of how low our judicial system has gone, which is very embarrassing, is the Kano State Governorship Contest Appeal Court judgement. Court of Appeal Kano on November 17 delivered judgement on this case, and parties applied and obtained the certified true copies of the judgement. Two days later, after Mr Femi Falana raised an alarm that there were significant inconsistencies in the judgement and that what was delivered in court was at variance with copies of the judgement given to parties, the Deputy

CJN, Olukayode Ariwoola

Chief Registrar of the Court of Appeal on November 22, wrote to lawyers in the case to return the judgement for what he called "Typographical errors". Meanwhile, the appellant had already filed its appeal before the Supreme Court. We must interrogate a lot of pertinent issues concerning this issue. First, the Kano Appeal Court judgment was unanimous, and the other two members of the panel of judges agreed with the lead judgment and stated in their contribution that they had read the lead judgement and agreed with it, including consequential orders. So how come there were such blatant "clerical errors, "as stated by the Chief Registrar of the court in his subsequent publicised

T H I S D AY ˾ , NOVEMBER 27, 2023

MONDAYSPORTS

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

0811 181 3083 SMS ONLY

Sadiq Umar’s Thunder Bolt Goal Earns Sociedad Victory at Sevilla Terem Moffi scores OGC Nice’s winning goal against Toulouse

Duro Ikhazuagbe Super Eagles forward, Sadiq Umar, yesterday scored his first goal of the season as Real Sociedad defeated Sevilla 2-1 in a LaLiga fixture. The Nigerian striker dribbled past a marker and from 25 yards let fly an unstoppable thunder bolt shot in the 22nd minute. That stunner drew thunderous applause from the home fans who pp have been waiting for their loved

LA LIGA star to regain Fitness after spending time on the sideline. Sociedad’s captain could not hide his admiration for the wonder goal. The other highlight of the encounter was the sending off of former Real Madrid Captain, Sergio Ramos, for the 29th time in his career. The ex-Spain defender was

dismissed for a sliding tackle on Brais Mendez in the 88th minute. Sunday's dismissal extends the 37-year-old's record for the most red cards in La Liga history to 21. Sevilla winger Jesus Navas, 38, was sent off in a La Liga game for the first time in his career for protesting against the decision. Ramos has been sent off more times in the 21st century than any other player, ahead of Rafael Marquez (21) and Felipe M Melo (20).

Umar‘ s Super Eagles teammate, Terem Moffi, was also on the scorecard elsewhere in France Ligue 1, scoring the only goal of the game to help his club OGC Nice beat Toulouse 1-0 to remain the only unbeaten team in Europe’s top five leagues Moffi had no through pass for a clear cut at goal in the first half and grew frustrated, dropping deeper and deeper in an attempt to have an influence on the game.

However, this was a game of two halves for the Super Eagles striker, who got his goal early in the second half. He was in the right place at the right time to finish off Sanson’s pass across goal. That was his first goal since mid-September and his confidence immediately returned. Nice are second in the standings with 29 points from 13 matches, a point behind champions PSG.

Garnacho’s Wonder Goal Lifts Man Utd at Everton

RESULTS Premier League Everton 0-3 Man Utd Tottenham 1-2 Aston Villa

La Liga Villarreal 3-1 Osasuna Sociedad 2-1 Sevilla Cadiz 0-3 R’Madrid

PREMIER LEAGUE Alejandro Garnacho smashed in a sensational goal-of-the-season contender as Manchester United beat Everton 3-0 in the Toffees' first game since their 10-point deduction. Garnacho's incredible third-minute effort silenced the fiery home faithful at Goodison Park, as fans vented their fury with anti-Premier League protests following their unprecedented sanction. There looked to be no danger when Diogo Dalot dinked a cross into the box, but Garnacho had other ideas, taking a couple of steps back before leaping into the Merseyside sky and unleashing an unstoppable bicycle kick which sailed over Jordan Pickford and into the net. The goal was the only chance that United created in the first half and Everton will be left wondering how they did not go in at least level at the break. Dominic Calvert-Lewin was the home side's main culprit in their flurry of chances, drawing decent saves from Andre Onana and sending a gilt-edged opportunity with a free header over the bar. United, without suspended manager Erik ten Hag on the touchline, had given a debut to impressive 18-year-old Kobbie Mainoo and the midfielder made a superb clearance off the line to deny Dwight McNeil.

CAF Confed Cup C’Africain 2-0 Dreams FC Rivers Utd 3-0 Academia D’Noirs 1-3 Stade Malien RSB Berkane 1-0 Sekhuhune

NPFL Abia War 1-0 Rangers K’Pillars 0-0 B’Insurance Katsina Utd 1-1 Bayelsa Utd Kwara Utd 2-0 Gombe Utd Lobi Stars 2-1 Shooting Tornadoes 1-0 Akwa Utd Sunshine 1-0 Sporting

Alejandro Garnacho scored a stunning bicycle kick opener as Manchester United defeated Everton 3-0 to move up sixth on the Premier League table

Nigeria Edge Tanzania, Brighten Cricket World Cup Chances The Nigeria men’s cricket team, the Yellow-Greens, secured a threewicket victory against Tanzania yesterday in Windhoek, Namibia to shake off the slow start they had recorded at the International Cricket Council Men T20 World Cup

Rivers Utd Hammer Academia of Angola to Lead Group C CA F C O N F E D E R AT I O N C U P Nigeria’s surviving representatives on the continent Rivers United got off to a great start in the group stage of the CAF Confederation Cup after they trounced visiting Academia do Lobito of Angola 3-0 yesterday. Samuel Antwi opened scoring for the home team after three minutes at the Godswill Akpabio International Stadium in Uyo. Paul Odeh then doubled Rivers United lead in the 46th minute, before Shedrack Asiegbu made it 3-0 in the 61st minute. Club Africain (Tunisia) and Dreams FC (Ghana) are the other teams in Group C. No Nigeria club have won this competition since it was founded in 2004. In the other Group C game, Club Africain of Tunisia defeated Ghana’s Dreams FC 2-0. Rivers United now occupy the top spot in the group on same three points as Club Africain but ahead on goal difference. The Port Harcourt club will face

Sadiq Umar...scores thunder bolt goal against Sevilla

Dreams FC in their next game at the Cape Coast Stadium next Sunday.

Qualifier they are taking part in. Nigeria returned to United Cricket ground after their slip up against Kenya on Thursday and needed a win against Tanzania to restore any hope of top-two finish from the seven-nation qualifiers. Nigeria’s Captain, Sylvester Okpe, said the team knew nothing would do at this stage of the game outside a win. “It was a win we needed, we had no excuse but to lock down this win. Our match against Kenya wasn’t what he had hoped for and a rain-washed Rwandan encounter that saw us share points, didn’t help our cause. So, this was a much needed win,” revealed Okpe shortly after the victory over Tanzania. The game got off with Nigeria fielding, having lost the toss to the

Tanzania side. With a smart use of the power-play, the East Africans rallied Nigeria to 139 runs in their innings. Captain Abhik Patwa scored 52 runs, off 40 balls, while Ivan Selemani posted 26 from 22 balls containing Nigeria’s pace bowlers in the process. The second innings was marked with tweaks in the team’s traditional batting order that saw Ashmit Shreshta come in at number three while Prosper Useni and Ridwan Abdulkareem were also promoted up the batting order. The changes gave Nigeria some freshness with Useni stepping up again to deliver critical boundaries that lifted the team when the run-rate leaked. He chalked up 31 runs off 19

Four Schools Battle for Two Tickets to Zenith/Delta Principals’ Cup Final The 2023 edition of the Zenith Bank/ Delta Principals’ Cup football competition is now in final stages as the semifinal matches take centre stage today. Delta Principals’ Cup is a grassroots developmental event organised for all secondary schools in the state and sponsored by Zenith Bank. The four qualifiers emerged in the quarterfinal encounters decided on Friday. They are; Illah Grammar School, Illah, Umuaja Secondary School, Umuaja, Institute of Continue Education (ICE), Sapele and Government College, Ughelli. And in the fixtures, Agbor Stadium will host the semi between

Illah and Umuaja just as Oleh Stadium is the venue where ICE will clash with Government College. To get to this stage, ICE defeated Essi College in the last eight stage, Umuaja defeated Community Quality Secondary School 3-1 while Ilah scaled through 7-6on penalties against Model Secondary School Asaba. Full time score stood at 1-1. Government College Ughelli edged out Ewu Government School on technical grounds. The semifinalists were leading 1-0 when the match was stopped because Ewu fielded ‘mercenaries.’ CEO of Hideaplus, organisers of the tournament, Tony Pemu,

explained that it was important to protect the integrity of the competition. “We discovered that some players who featured for some schools in the early stage of the tournament were paraded by Ewu against Government College. We had no choice than to disqualify them. “The semis will be very entertaining because all these four teams have done well consistently this year,” Pemu noted. The Third Placed and final matches of the competition are billed to take place at the Stephen Keshi Stadium Asaba on Thursday November 30.

balls. Sesan Adedeji, Yellow-Green’s number four put up 24 off 26 balls while spin-bowler Abdulkareem contributed 16 runs off 12 balls (including two wickets he snatched in the first inning). President of the Nigeria Cricket Federation, Uyi Akpata, who joined the team in Windhoek yesterday said the interesting part of the win was the confidence the team played with. “We would love to pick the World Cup ticket, but that is a bit difficult now given the results of our first two matches. We are more focused on using this event

as a measure of our continual development programme for the team,”stressed the NCF President. Uganda national team created an upset in Windhoek earlier in the day, when they defeated Zimbabwe, test playing nation, in their first competitive encounter. Nigeria will continue the quest for the World Cup ticket with an encounter against Uganda today (Monday, November 27) at the United Cricket ground at 2:00 pm. Other nations battling for the 2024 T20 World Cup ticket include Zimbabwe, Kenya, Uganda, Tanzania, Rwanda and host Namibia.

Terry Venables Dies at 80 Terry Venables has died at the age of 80 years after a long illness. Ahead of Nigeria’s participation at the USA 94’ World Cup, Venables was contacted and was almost hired by the then National Sports Commission Chairman, Late Sylvanus Akinwunmi. Venables was expected to take over from Dutchman, Clemens Westerhof, whom sports officials at that time saw as too powerful to control due to his closeness to former military Vice President, Late Admiral Augustus Aikhomu. His name surfaced again in 1997 when the then Minister of Sports, Chief Jim Nwobodo, opted for the sack of Super Eagles’ handler, Frenchman Philippe Troussier before the World Cup in France in 1998. Instead, it was Serbian Bora Milutinovic who got the job. England who failed to qualify for the 1994 Mundial hired him

to manage the Three Lions from 1994 to 1996 and notably led them to the semi-finals of Euro ‘96 on home soil. A former England player, he also managed Barcelona and Tottenham Hotspur. "We are totally devastated by the loss of a wonderful husband and father who passed away peacefully yesterday after a long illness," read a family statement. "We would ask that privacy be given at this incredibly sad time to allow us to mourn the loss of this lovely man who we were so lucky to have had in our lives." Venables won La Liga, reached the European Cup final with Barcelona, and lifted the FA Cup with Tottenham. As a player, he won two England caps and made more than 500 club appearances between 1960 and 1975, largely for Chelsea, Queens Park Rangers and Tottenham.

Monday, November 27, 2023

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MISSILE Governor's Wife to Rapists “Henceforth, it will not be business as usual. I am calling on our men to support this advocacy by saying no to rape and all forms of abuse against women and the girl-child. Let's put a stop to this menace. No one should feign ignorance when the law catches up with him or her" –Wife of Akwa Ibom State Governor and Chairperson of the state's Gender-Based Violence Management Committee, Mrs. Patience Umo Eno, warning rapists, paedophiles, and women abusers in the state to desist from such acts or face the wrath of the law.

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MAHMUDJEGA VIEW FROM THE GALLERY

A Trauma With Few Equals O ne can understand the panic that enveloped large sections of this country’s political scene last week as several state governors suddenly had their positions in grave peril as a result of election court cases. Election appeal tribunals quashed the elections of the governors of Kano, Plateau and Zamfara, though with different levels of consequence. Kano State Governor Abba Kabir Yusuf had earlier lost his case at the election tribunal, which the appeal tribunal upheld. Zamfara’s Governor Dauda Lawal and Plateau’s Governor Caleb Mutfwang won their cases at election tribunals, only to lose them at the election appeal tribunals, while Governor Abdullahi Sule of Nasarawa, whose election was quashed by the election tribunal, had it restored by the appeal tribunal. I said with different levels of consequence because unless Yusuf and Mutfwang succeed at the final level of litigation, i.e. the Supreme Court, their

Gov Kabir

election opponents Nasiru Gawuna and Nentawe Yilwatda respectively will be sworn in to replace them. Zamfara’s

Lawal however has a strong fighting chance because his election was only declared inconclusive and a rerun was ordered in some wards and polling units. The gap between him and his opponent, former state governor and current Minister of State for Defence Bello Mutawalle, is such that it will be difficult to close in a rerun election. Opposition parties’ supporters across the country quickly shouted blue murder because all three governors affected by the rulings belong to opposition parties, two of them PDP, one of them NNPP. On the other hand, Governor Abdullahi Sule is an APC member, so it fueled opposition claims of an APC power grab through the courts. As it happened, many other governors survived appeal tribunal rulings. They include the governors of Ogun, Delta, Bauchi, Adamawa, Benue, Cross River, Lagos, Ebonyi, Kebbi and Kaduna. Three of those governors are PDP members but that did not elicit much interest among Nigeria’s army of election case commentators because all the others are

APC members. The loudest narrative last week was that APC was determined to increase its haul of state governors. If truth be told, APC also suffered traumatic loses in the courts even when it was the ruling party at the centre in the last eight and a half years. In traumatic effect, no election reversal in the history of Nigerian democracy quite rivalled Zamfara APC’s experience in 2019. It won the governorship and every state and federal legislative seat, only to have all of them quashed by the courts and the seats handed over to their PDP opponents. No one said then that it was a PDP power grab. The reason for the shock judgments was that APC failed to hold genuine primaries before the 2019 elections. This is exactly what the courts have now found Plateau PDP guilty of when it ignored a High Court order to hold local government congresses before its party primaries. There were other devastating APC Continued on page 54

DAKUKUPETERSIDE Dark Chapter For the Judiciary BENEATH THE SURFACE

n 1961, the Prime Minister of Nigeria, Abubakar Tafawa Balewa, enjoined Justice Adetokunbo Ademola to "never waiver from the truth" and a charged him that if he committed a crime and was brought before the justice, he should send him to jail. Balewa understands the importance of judicial independence and the integrity of the judges in fostering an enduring democracy. He understands that the Judiciary in our democracy is the third estate of the realm, the interpreter of the law, the common man's last hope and the society's conscience. It serves as checks and balances of the executive and the legislature while adjudicating criminal and civil matters within the society, punishing offenders, and protecting citizens . The judges who preside in Courts and the lawyers who prosecute or defend their clients ought to be impartial, upright, diligent, consistent, and open in whatever they do because their character is public property. The judges

are the cynosure of the adjudication system and are expected to live above board. This is the ideal. However, this is too far from our current reality. Recently, there has been a substantial amount of debate, discussion and concerns about the health and reputation of Nigeria's Judiciary. A cursory review and quasi-research of commentaries on the actions and inactions of Nigerian Judiciary in 5 Nigerian newspapers between September 2023 and September 2023 reveals that 67% were negative, 10% were classified as neutral, and a paltry 23% were positive. The inference to draw is that the Judiciary in Nigeria has been in the news for all the wrong reasons. Why, then, do the commentariat and public view the Nigerian Judiciary mainly in the negative? Our Judiciary has dug itself into a deep hole of credibility crisis for three key reasons. The first reason is the preponderance of questionable my judgements. This is worse with political cum election cases. Some judgements are inconceivable, and it

is difficult for right-thinking persons to wrap their heads around them. From politicians not participating in primaries but becoming substantive candidates to court injunctions against the arrest of politicians or politically exposed people on criminal allegations to unimaginable errors in electoral judgment and judicial procedures, one wonders why we are facing such an epidemic of judicial impunity. In election-related cases, could the waning quality of judgments be blamed on the sheer unmanageable caseload and the punishing timeline for hearing and delivering judgments in election petition cases ? Are the judges sitting on electoral tribunal or Appeal in a panel of at least three members able to have valuable conferences to deliberate on the cases argued before them to enable them to make informed decisions? Or is it just a routine ritual where one member cavalierly decides, and the rest chorus their agreement with the lead judgment that they never had the prior privilege to read the draft in advance? Whatever

the answers might be to these posers, the Judiciary is fast losing the trust and reverence it used to enjoy from the public. The second reason is the plethora of embarrassing corruption stories about the Judiciary constantly in the public domain. The public has lost trust in the incorruptible Judiciary, and now the general perception is that the Judiciary is prone to corrupt practices . Although this may be a hasty generalisation because we still have honest and incorruptible judges doing a great job, they hardly get mentioned in the media. Instead, the public is bombarded with news about corruption in the Judiciary. Besides, the lifestyle of some judges belies the fact that they must be corrupt. We all know that the remuneration of judges and justices (between N450,000 to N750,000) is poor considering their excellent Continued on page 54

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