WEDNESDAY 30TH NOVEMBER 2022 by THISDAY Newspapers Ltd

Buhari CanvassesTight Security Around Borders in Lake Chad Basin Says weapons, fighters from Russia/Ukraine conflict compounding war on terror Nigeria spent over $209m on MNJTF in six years Maintains taskforce has indeed become a model to conquer challenges Deji Elumoye in Abuja President Muhammadu Buhari has canvassed for more vigilance and

tightening of security around the borders of the six-member nations in the Lake Chad Basin. This is just as he expressed

concern over the increasing number of arms, ammunition, and other weapons from the simmering Russia and Ukraine war infiltrating the

region. Speaking yesterday at the 16th Summit of Heads of State and Government of the Lake Chad

Basin Commission (LCBC) held at the Conference Hall of the State House, Abuja, the president, who is Chairman of the Summit of

Heads of State and Government, emphasised the urgent need for Continued on page 9

ARISE: Town Hall a Constitutional Media Responsibility, Urges Candidates to Attend... Page 8 Wednesday 30 November, 2022 Vol 27. No 10095. Price: N250

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90 Percent of Die-hard Boko Haram Fighters Dead, Govt Declares Kingsley Nwezeh in Abuja

L-R: EFCC Chairman, Abdulrasheed Bawa; Principal of Model Secondary School, Maitama, Abuja, Mrs Godwin Elizabeth ; Vice President, Professor Yemi Osinbajo; EFCC Secretary, Dr. George Ekpungu and Representative of FCT Minister and Permanent Secretary, FCT Ministry, Adesola Olusade, at the public presentation of the EFCC Integrity and Zero Tolerance Clubs Manual at Model Secondary School, Maitama, Abuja ... yesterday

The Borno State Government, yesterday, said 90 per cent of die-hard Boko Haram insurgents were dead just as it attributed Continued on page 9

In Face of Oil Theft, CBN’s RT200 Initiative Records $4.987bn Inﬂow N81bn disbursed as rebates to exporters, says Emefiele Pledges improved forex supply to non-oil exporters

Nume Ekeghe The Central Bank of Nigeria’s (CBN) RT200 (Race to $200 billion forex inflows), which is an initiative that aims to boost non-oil exports has recorded $4.987 billion forex inflows in 2022. CBN Governor, Mr. Godwin Emefiele, who disclosed the feat achieved by its RT200 initiative yesterday, said the amount recorded so far this year, was an increase from the $3.190 billion recorded in 2021. Emefiele said this at the second RT200 Bi-annual Non-oil Export

Summit in Lagos, with the theme: ‘RT200 Non-Oil Export Program: The Journey So Far.” This was cheering news coming on the heels of the challenge posed by crude oil theft which hindered oil production in some terminals and affected the Nigerian National Petroleum Company Limited’s (NNPCL) ability to remit forex to the federation account. Just last Friday, Emefiele had while speaking in Lagos, disclosed that official forex receipt from crude Continued on page 9

Kogi, China Partner on $60m Smart Security Architecture to Tackle Insecurity... Page 39

BUSINESSWOMAN WINS CAR IN GLO PROMO... L-R: Globacom’s Regional Manager, Sales, Lagos, Lawrence Odediran; car prize winner, Vivian Nkiruka Chukwuleke, and Oniru of Iruland, Oba Abdulwasiu Gbolahan Lawal, presenting the keys to a brand new Kia car to Chukwuleke, at the prize presentation event held for winners of Globacom’s Festival of Joy promotion in Victoria Island, Lagos…yesterday

WEDNESDAY NOVEMBER 30, 2022 • T H I S D AY

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

NEWS

SECOND EDITION OF RT200 NON-OIL EXPORT SUMMIT... L-R: Minister of Industry, Trade and Investment, Niyi Adebayo; Lagos State Governor, Babajide Sanwo-Olu; Governor, Central Bank of Nigeria (CBN), Godwin Emeﬁele; CEO, Fidelity Bank, Nneka OnyealiIkpe; CEO, Zenith Bank, Ebenezer Onyeagwu, and CEO, GTCO, Segun Agbaje, at the second Edition of RT200 Non-Oil Export Summit in Lagos... yesterday

Afreximbank Doubles Funding Facility for Creative, Cultural Industries to $1bn

President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank), Prof. Benedict Oramah has announced a funding package of $1 billion dedicated towards supporting Africa's creative industries under the auspices of the CANEX programme. The Creative Africa Nexus Weekend (CANEX WKND) held recently brought together the largest gathering for the cultural and creative industries in Africa and the Diaspora in Abidjan, Côte

d'Ivoire. According to a statement yesterday, Oramah announced the funding at the opening of the three-day event. In 2020, Afreximbank introduced a dedicated $500 million facility to support Africa's creative and cultural industry as part of its wider CANEX programme. The bank has been able to support the industry significantly through this facility which is now nearly fully utilised. Oramah indicated that the

doubling of the size of the facility to $1 billion, for implementation over the next three years to 2025, would maintain and sustain the momentum and impact initiated by the original facility. “We hope that the experience we gained implementing the original facility will enable us to provide the industry with a more efficient solution that can grow your business further. We expect to use this facility to support our talented youth,” Oramah explained. “The facility finances all activities

in the creative and cultural industry value chain, from content production to distribution. It supports the development of infrastructure for content creation, product design, distribution, logistics, and acquisition of intellectual property. “Creative and cultural activities covered include sports, fashion, music, movies, art, including performance art, media and technology.” According to the statement, so far, the bank’s culture and creative industry support facility has as-

UN Scores Nigeria Low on Women Participation in Politics INEC urges political parties to respect their constitutions Oghenevwede Ohwovoriole in Abuja The United Nations (UN) has scored Nigeria low in the area of women participation in politics. The UN Women Representative to Nigeria and the Economic Community of West African States (ECOWAS), Ms. Beatrice Eyong, who spoke yesterday in Abuja, at a one-day meeting of, "He for She" (a term for men who are supporting gender equality), organised by the Centre for Democratic Development (CDD), said in terms of women participation and representation in Africa, Nigeria was the least. Speaking through the Programme Specialist, Desmond Osalobo, she said, "The women's participation in politics in Nigeria is very appalling, and very unsatisfactory, and very, very unacceptable. "Because if you look at the African sub region, Nigeria is one of the lowest countries as far as representation on the parliament is concerned. "Nigeria is just 4.1 per cent in the parliament as we speak to the national parliament, while in other countries like Rwanda it is 67 per cent, Senegal is about 57 per cent. These are all countries with a very high level representation of women in parliament, but for Nigeria it is something that is very unacceptable." She listed factors responsible for the low women participation to include: patriarchy system in Africa, adding: "We've got societal beliefs,

and religion has taken over and the men of course are dominant in the society." On the way forward, she said, "We support the media, we also support the political parties, building the capacity of women, and ensuring that women are able to compete effectively. "We have also in one way or the other, provide a kind of both internal and external training to women, where they go outside to learn from other nations where they have been able to advance. "We are training the young women known as a Young Women Academy, where if in future we want the young women that are interested in governance, to be able to jump into political parties and be able to change the narrative. "We have met with the traditional rulers, we have met with the religious leaders, we have met with a media organisation, try to sensitise and mobilise all stakeholders and telling them the importance and benefits of women to be part of governance." The acting Director, Gender and Inclusivity, INEC, Mrs. Dorathy Bello, urged political parties to ensure they keep to the rules in their constitutions which they made by themselves. Represented by the Deputy Director, Civil Society Organisations (CSOs) Division, INEC, Mrs. Ndidi Okafor, she urged the political parties to ensure they implement their own constitution or manifestos. She noted that the commission

was also doing a lot in terms of advocacy, reminding them to keep to the rules they gave to themselves. "The commission is regularly meeting with political parties, pressing it on their leadership to ensure internal party democracy to ensure the inclusion of women. "So the commission is constantly reminding them of the importance is also not just about the commis-

sion to people the media, civil society organisations jointly, we can all keep up and step up this advocacy, so that our country will be better," she said. The keynote speaker, Prof. Jibrin Ibrahim, regretted that, "the condition of women in Nigeria is so bad because, women are not involved in decision-making that directly affects their lives.”

sisted film production, in some cases in partnership with Netflix. It has provided lines of credit to some African banks to support commercial creative activities. “It is also supporting the production of garments, through the financing of factories and outlets. The pipeline of deals also includes support for the development of sports arenas and gaming technology commercialisation. “As part of its efforts to support Africa's cultural and creative industries, Afreximbank has also set up a $100 million venture capital fund to which the bank will contribute $25 million. “And to address the lack of institutions on the continent that can support the commercialisation of African intellectual property rights, the Bank has formed and registered CANEX Creations Incorporated, an entity that will support the protection and commercialisation of African intellectual property rights,” he added. “The days when African creatives intellectual property is taken advantage of by the rest of the world will soon be over, and we will see a new dawn of global creative brands emerging from the continent,” Oramah added. “CANEX Creations Incorporated will help generate intellectual property in the creative and cultural industry, ensure that they are legally protected, support the negotiation

of the use and commercialisation as well as distributing compensations when received. “The vehicle will draw on the Venture Capital Fund to make strategic investments in the production and talent incubation, marketing and distribution of creative content on the continent,” he added. Outlining the bank's ongoing work towards supporting the industry, Oramah highlighted the “Afreximbank CANEX Presents Africa” initiative which enables African Designers to showcase their products at international fashion platforms, including the Portugal Fashion Week Runway show and in sales rooms at the Tranoï tradeshow at Paris Fashion Week, giving them access to global audiences, retail buyers, wholesalers, and global media. Organised by Afreximbank in partnership with the Government of the Republic of Côte d'Ivoire, CANEX WKND brought together about 3 000 cultural and creative talent, as well as investors, industry leaders, government representatives, and the media from Africa and the Diaspora, at the Palais des Congrès of Hôtel Ivoire. CANEX WKND is one of the major components of Afreximbank’s implementation of its CANEX Programme, a multidimensional initiative aimed at supporting and developing African cultural and creative industries.

N1.015bn Judgement Sum: Court Sets Aside Order Attaching AMCON Funds Wale Igbintade A Federal High Court sitting in Lagos has set aside an order attaching funds belonging to the Asset Management Corporation (AMCON) in the custody of 24 commercial banks operating in Nigeria over alleged N1.015 billion debt owed a lawyer, Chief Anthony Ajibola Aribisala. Justice Tijjani Ringim in a ruling held that the Judgment Creditor (Aribisala), failed to sought for and obtained the consent of the Attorney-General of the Federation before the commencement of the Garnishee Proceedings against AMCON. The matter began in 2020 at a Lagos High Court in suit No. LD/4123/CMW/2020 brought by the judgment creditor, Aribisala, against AMCON to recover

N1,014,701,905.52 owed him by the corporation. On October 17, 2022, the judgment creditor secured judgment in the suit in his favour. Thereafter, the Judgement Creditor proceeded to the Federal High Court to register the judgment as suit No. FHC/L/NRJ/9/22. Following the registration, on November 4, 2022, the Federal High Court, Lagos, presided over by Justice Akintayo Aluko made a garnishee order nisi attaching the funds of AMCON in the custody of 24 commercial banks operating in Nigeria. However, AMCON, through its lawyer, Dr. Francis Chuka Agbu, challenged the order, and urged the court to set it aside. Due to urgent election matters being handled by Justice Aluko, the case was transferred to Justice

Tijjani Ringim to listen to the argument of the parties for adjudication. In his ruling, Justice Ringim held that Section 19(4) of the AMCON Act provides that, "All money standing to the credit of the corporation in any bank account is deemed to be in custody and control of the corporation." The judge also started that in line with the plain and clear wordings of Section 19(4) of AMCON Act, the requirement of consent of the Attorney General of Federation as a precondition to the commencement of garnishee proceedings against the Judgment Debtor cannot be washed away because the fund of the Judgment Debtor/Applicant is in the Garnishee Commercial Banks, and not under the custody and control of a public officer. The judge added that technically, the law deemed such fund in

whatever bank to be in custody and control of the Judgment Debtor. "It is then obvious to me that the combined provisions of section 19(3) and (4) of the AMCON Act, make it plain and clear that it's a pre-condition to the commencement of the instant Garnishee proceedings for the Judgment Creditor/ Respondent to have sought for and obtained the consent of the Attorney General of Federation.” Citing plethora of court decisions, the judge held, "I cannot but follow suit on the strength of the sacred principle of judicial precedence that the requirement of consent of the Hon. Attorney General, as a precondition to commencement of a garnishee proceedings against a public officer, is part of our law and it's not in conflict with any provision of our constitution.

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NEWS

STATUTORY MEETING OF ACCESS HOLDINGS... L-R: Executive Director, Business Support, Access Corporation, Bolaji Agbede; Independent Non-Executive Director, Abubakar Jimoh; Group Chief Executive, Herbert Wigwe; Chairman, Bababode Osunkoya, and Group Company Secretary, Sunday Ekwochi, during the Statutory Meeting of Access Holdings Plc in Lagos ... yesterday

Finance Minister Clariﬁes Alleged N206bn Padding of Humanitarian Ministry’s Budget, Others Lawmakers demand Farouq’s resignation for shunning summon Udora Orizu in Abuja The Federal Ministry of Finance, Budget and National Planning has made clarification on its alleged padding of the 2023 appropriation bill, particularly the sum of N206 billion it reportedly inserted into the proposed budget of the Ministry of Humanitarian Affairs, Disaster Management and Social Development. Humanitarian Affairs Minister, Sadiya Umar Farouq was alleged to have inserted N206,242,395,000 billion into its proposed budget for the purchase of mosquito nets under its National Social Safety Nets Project which was already being funded by the World Bank. Speaking on the alleged budget padding, Farouq had explained that the sum was erroneously inserted. But the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, at a meeting with the House of Representatives Committee on Appropriation, yesterday, denied the allegations, saying wrong coding was responsible as the sum was for the National Social Safety Nets Project - Scale Up (NSSNP-SU). She said the project was correctly described in the submission from International Economic Relations Department (IERD) for the 2023 appropriation bill, but regrettably, a wrong code was inadvertently used in the process of inputting it, which resulted in it being captured

as Purchase of Security Equipment in the Budget Preparation System (BPS). She explained that the World Bank was the funding source for the project domiciled in the humanitarian ministry’s headquarters, with projected drawdown of $473,500,000, which is equivalent to N206,242,395,000, using the N435.57/$ exchange rate applicable to the 2023 proposed budget. The minister further explained that the same project was correctly captured in the 2022 budget of the ministry in the amount of N12,304,500,000 based on the projected drawdown of $30 million at N410.15/$ 2022 budget exchange rate. Speaking on alleged wrong insertions in the Ministry of Defence proposed budget pertaining to Refurbishment and Procurement of Harris RF-5/7800 Military Communication Equipment and Safe Schools Initiative Projects, she said, “The Minister of Defence wrote to Mr. President requesting the immediate release of $1,363,880.40 and N158,928,045.37 for the implementation of Phase 1 of the project. HM-MoD also requested the sums of $12,274,923.60 and N11,946,311,375.18 to implement Phases 2 and 3 of the project, all of which Mr. President graciously approved. “Further to Mr. President's approval, 50 per cent of the requirement for Phases 2 & 3, amounting to N8,600,000,000 (using

the exchange rate of N435.57/$), has been included in the 2023 budget proposal of the MoD." Also addressing allegation of insertion in the Ministry of Power’s proposed budget, she said, “The 2023 proposed budget for the FMoP includes a total of N195,465,151,790.65 MBPL with a breakdown as follows: Zungeru HydroElectric Power Project: funded by Export-Import Bank of China. Amount: $175,757,149.92, which is N76,554,541,790.65. “Power Sector Recovery Operation (PSRO); funded by World Bank. Amount: $162,000,000, which is N70,562,340,000.00. Nigeria Electrification Project (NEP) to be executed by the Rural Electrification Agency (REA),

funded by World Bank and AfDB. Amount: $55,000,000, which is N23,956,350,000.00. The Nigeria Electricity Transmission, to be executed by Transmission Company of Nigeria (TCN)): funded by the World Bank. Amount: $56,000,000, which is N24,391,920,000.000. The total projected drawdown for the four projects is $448,757,149, which is N195,465,151,790 at N435.17/$." Speaking about the proposed budget of the Federal Ministry of Education, the minister said, “The amount in question here relates to the 2022 budget, during which it had a projected loan drawdown of $30 million equivalent of N12,304,500,000 at an exchange rate of N410.15/$). “The issue relating to this arose from the

The House of Representatives yesterday approved N607.9 billion budget estimate for the Federal Capital Territory (FCT) for the 2022 fiscal year. The approval followed the consideration and adoption of the report of the House Committees on Federal Capital Territory Administration and Federal Capital Territory Area Council and Ancillary matters by the committee of supply at plenary. Out of the total amount, the sum

of N76.5 billion was for personnel cost; N127.6 billion would be for overhead cost; while the balance of N403.7 billion was allocated to capital projects. The report laid by Chairman of the Committee, Hon. Abdullahi Garba stated that: "The House do consider the Report of the Committees on Federal Capital Territory Administration and Federal Capital Territory Area Council and Ancillary Matters on a Bill for an Act to Authorise the issue from the Federal Capital Territory Administration's Statutory Revenue

budgets of the affected MDAs by inserting the projects in question made absolutely no sense. Earlier, the lawmakers demanded the resignation of the Minister of Humanitarian Affairs and Disaster Management, Sadiya Umar Farouq, over her failure to honour repeated invitations of the House. Farouq, who was scheduled to appear and respond to allegation of the N206 billion padding in her ministry’s 2023 budget, failed to show up. Frowning at the development, the Chairman of the Committee on Appropriation, Hon. Aliyu Betara, said “If she is not ready for the job she should resign. Most times the committee calls the minister, she shuns the invitation."

Senate, Reps On Collision Course Over Bills on Sports University Establishment Sunday Aborisade in Abuja

The Senate and the House of Representatives appear to be on collision course over separate bills seeking the establishment of the Federal University of Sports. The Red Chamber had earlier passed its version of the proposed legislation and transmitted same to the lower legislative Chamber for concurrence. However, rather than carrying

out necessary legislative actions on the Senate bill, the House of Representatives abandoned it and came up with its own version. Trouble started on the floor of the Senate yesterday, when the bill was listed among the six sent by the Green Chamber for the Senate concurrence. The Senate had through its Chairman on Sports and Youths Development , Senator Obinna Ogba ( PDP Ebonyi Central),

House Approves N607.9 Billion Budget for FCT Udora Orizu in Abuja

NASS committee’s review of FME’s 2022 budget implementation. The project is the “Second Africa Higher Education Centres of Excellence for Development Impact Project” and the financier is the World Bank. “For 2023, the amount captured for this project and the Sustainable Procurement, Environmental and Social Standard Enhancement Project is N26,134,200,000 (60 million dollars @345.57/$]; both are World Bank funded projects.” Ahmed said the current issues would have been easily clarified between the respective MDAs and the ministry had the affected agencies followed the established budget processes. She added that the allegation that the ministry padded the proposed

Fund of the Federal Capital Territory Administration Account, the total sum of N607, 952,023,580.00 only. "Of which the sum of N76,569,904,857.00 only, is for personnel costs; and the sum of N127,603,382,310.00 only, is for overhead costs; while the Balance of N403,778,736,413.00 only, is for capital projects; for the Service of the FCT, Abuja, for the financial year commencing from 1 January, 2002 and ending on 31 December, 2022. "The Director of Treasury of the Federal Capital Territory Administration shall, when authorised

to do so by warrants signed by the Minister, FCT Administration with responsibility to pay out of the FCT Administration Statutory Revenue Fund of the Federal Capital Territory Administration during the financial year 2022 the sum specified by the warrants, not exceeding in the aggregate N607,952,023,580.00. “All amounts appropriated under this bill shall be made from the Federal Capital Territory Administration Statutory Revenue Fund only for the purposes specified in the schedule to this bill."

sponsored its bill to that effect , considered and passed for third reading on December 7, 2021. However, the House of Representatives came up with a different version of the bill and sought for concurrence of the Senate. Ogba who sponsored the bill in the Senate, got it read for second time on May 19, 2021, and passed for third reading on December 7, 2021. The Senate in the Ogba's sponsored bill, had proposed to cite the University in Nkalagu, Ebonyi State, while the House version proposed Afuze in Edo State as the location of its own proposed university. Ogba rejected the concurrence of the bill from the Green Chamber claiming that he had earlier in the 8th National Assembly, sponsored same bill. The Senator further explained that the bill was passed by both chambers then but did not get presidential assent. He said, "Out of the six bills forwarded to us from the House of Representatives for concurrence, the one listed as number four, seeking for establishment of

Federal University of Sports, Afuze in Edo State runs contrary to the earlier one passed in the Senate. "This bill as sponsored by me, had been given the required legislative consideration by the Senate with second reading in May 2021 and third reading in December 2021. "In the version considered and passed by the Senate, Nkalagu in Ebonyi State is proposed as location for the University and not Afuze, proposed by the House version. "It is the House that supposed to concur to what the Senate had earlier passed and not the other way round with this request which should be stepped down," he said. The Senate President on the strength of Ogba's submission stepped down the bill from further consideration until required harmonisation was carried out between the Senate and the House of Representatives Ogba, however insisted in a chat with journalists after the plenary that his bill superseded that of the House. He pledged to see to the end of the matter to ensure that his own was chosen.

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NEWS

UBA FOUNDATION CHRISTMAS LIGHTING CEREMONY... L-R: Executive Director, Risk & Finance, United Bank for Africa Plc (UBA), Ugo Nwaghodoh; MD/CEO UBA Foundation, Bola Atta; Group Managing Director/CEO, UBA, Oliver Alawuba; Deputy Managing Director, Muyiwa Akinyemi and Executive Director/Group Chief Operating Oﬃcer, Alex Alozie, during the 2022 Christmas Lighting Ceremony of the UBA Foundation Gardens at Marina, Lagos…yesterday

TCN's 22 Power Transformers, Other Transmission Equipment Land in Lagos Emmanuel Addeh in Abuja The Transmission Company of Nigeria (TCN) announced yesterday that it had delivered 22 brand new power transformers, spare parts and critical equipment to its central store in Ojo, Lagos. It stated that as more of the equipment arrive Lagos port for onward delivery to the store for subsequent installation at various ongoing project sites across the

country, some of the them would be kept in the store to serve as spares for future use. A large number of the equipment still in the store, a statement by the General Manager, Public Affairs of the TCN, Ndidi Mbah, stressed, was recently inspected by members of the governing board and management of TCN. The TCN described the new arrivals as “massive and unprecedented stockpile” of various kinds

of transmission equipment, noting that they are gradually being moved to project sites for maintenance, new projects and upgrading of existing transmission lines and substation. It stated that the equipment remains the highest of such in the company’s history, explaining that they comprise 22 power transformers, haulage trucks, transmission switchyard spare parts, 45 earthing transformers, suspension clamps,

ARISE: Town Hall a Constitutional Media Responsibility, Urges Candidates to Attend Obinna Chima With a crucial general election due in less than three months, especially, given the current campaign frenzy by some of the political parties and their presidential hopefuls, the Arise Town Hall presents a platform, albeit a constitutional media undertaking, for aspiring office holders to dialogue, debate the issues and as well, canvass for votes. The other leg to this is that, the forum, in addition, provides opportunities for the electorate to interrogate the proposed policies and programmes of the candidates, enables voters to make informed choices on who should lead them, having effectively understood the policies leanings and development orientation of the candidates. This is why it is incumbent on the candidates, as responsible and patriotic citizens, who genuinely desire to serve the people, to show up and demonstrate that the policies they’ve been proposing for Nigerians would best suit the country. Section 22 of the 1999 constitution, which empowers the media to undertake such responsibility, states that, “The press, radio, television and other agencies

of the mass media, shall at all times be free to uphold the fundamental objectives contained in this chapter and uphold the responsibility of the government of the people.” This, understandably, is the underpinning motivation behind the ARISE News Town Hall, whose third in a series, holds this Sunday, December 4, 2022, at 7pm. Thus, the third edition, which seeks to focus on education, healthcare, poverty and human capital, is expected to feature four of the leading presidential candidates. They are the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar; the Labour Party (LP) candidate, Peter Obi; the New Nigeria Peoples Party (NNPP) standard bearer, Rabiu Kwankwaso, and the candidate of the All Progressives Congress (APC), Bola Tinubu. In a public notice released to this effect, organisers of the town hall, stated that, “In furtherance to this constitutional duty, ARISE NEWS Channel will host the third in the series of Presidential Town Hall and expects all candidates seeking elections to form government under this constitution, to respect the letters and spirit of

the law, either on ARISE NEWS Channel or any broadcast channel or media of their choice, to respond to questions from independent journalists in keeping with the fundamental objectives, responsibility and accountability required by the constitution, for those who wish to lead us.”

vibration dampers, armour rods, circuit breakers, current transformer, voltage transformers, 100 tons crane truck heads, among others. Mbah said the Technical and Monitoring Committee of the governing board led by the committee Chairman, Nsima Ekere, visited the Ojo store as part of their two-day visit to Lagos region where they inspected key power transmission substations as well as the Ojo central store. After the equipment inspection, she stated that Ekere lauded TCN for the record stock delivery to the store. “We have seen loads of equipment that give me hope that the new dawn that we have been expecting to see at TCN is here. We saw about 30 forklifts, mobile transformers, reconditioning facilities, all kinds of things, the conductors, isolators, several other equipment and electric scaffold mobile scissors among others.” “They are all to improve the capacity of TCN’s efficiency in doing their work. I am convinced that the transmission grid expansion project that TCN is presently

executing is ongoing and I must also commend the World Bank and other donor agencies that are helping us with funding,” he was quoted as saying. Ekere said that with the massive stock at the TCN central store, the capacity of TCN to wheel power was being enhanced. Speaking on the quantum of equipment in the Ojo Central Store, the Managing Director and Chief Executive Officer, TCN, Sule Abdulaziz, said that most of the equipment were procured for donor funded projects supported by the World Bank, French Development Agency (AFD), African Development Bank, among others. Abdulaziz noted that resources had been committed by donor agencies, assisting the transmission company in its grid expansion drive, adding that the capacity of the transformers range from 60MVA up to 150MVA. “We have not seen this level of massive supply of materials in TCN stores in the past, purely for network expansion and maintenance. We have 150MVA transformers which are very massive and will

eventually be connected on our 330kV circuit. “We have the 100MVA transformers, high-grade cranes and other equipment. It implies that the turnaround time to rectify faults when they occur and the downtime have been reduced,” he assured. He mentioned other equipment delivered to the Lagos store to include circuit breakers, isolators, aluminium conductors among others. He added that the equipment were required to ensure that the system becomes more stable. “With these, TCN can now ensure constant maintenance of the grid due to availability of spares. Also, expansion and prompt scheduled maintenance of the grid will ensure a more efficient and effective transportation of bulk electricity to distribution load centre’s nationwide for the benefit of Nigerians. “The projects, when completed, would further enhance the quality and stability of bulk supply as well as longer hours of power supply,” Mbah stated.

Tension as Police Teargas Protesters Demanding Sack of CJN Adedayo Akinwale in Abuja There was tension yesterday as Police officers fired canisters at protesters demanding the immediate sack of the Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola over his alleged partisanship and making utterances that could erode the integrity of the judiciary. Ariwoola, had last Thursday, in Port Harcourt, said he was happy with the Oyo State Governor, Mr. Seyi Makinde’s membership of the G-5 governors led by Governor Nyesom Wike of Rivers State. However, the protesters who initially assembled at the Unity Fountain, later marched towards the Federal Ministry of Justice complex before encountering heavily armed policemen who fired several canisters at them.

The protesters carrying various placards with inscriptions such as: "You are partisan, Ariwoola resign now," Judicial politicians will cause us harm, Ariwoola is a politician", "We demand independent judiciary, peaceful 2023 general elections", and "No more politicians in judicial bodies, among others, had to scamper for safety. The spokesperson of the coalition, Olayinka Dada, while addressing journalists yesterday in Abuja, said the Coalition had since analysed his statements and came to the conclusion that the country's democracy was indeed in danger. He insisted that the CJN's position was an invitation to anarchy. Dada said: "As responsible citizens of this country and the voice of the voiceless, we demand

the immediate sack of the CJN especially now that his amorous political intentions and bias are in the public domain. "The partisanship displayed with full emotional support by the CJN is evident enough to know that the 2023 election is already in his courts. He has compromised his office and person." Dada said in the coming days, should the CJN refuse to resign, the coalition would press for all legitimate means through citizens’ revolt for him to vacate the impartial and independent office of the Chief Justice of Nigeria. He added: "We call on all Nigerians to see this anomaly as a danger enough to truncate citizens' interest in electing a President of their choice come February, 2023." The coalition stressed that the

journey to the country's democracy to this point despite all imperfections and challenges was no doubt one that cost great countrymen and women their lives. It said seeing the hard fought democracy under threat as being witnessed now was nonetheless a misnomer, adding that Nigerians would resist the affront with all legitimacy of their convictions. Dada added: "The Chief Justice of Nigeria in an unholy visitation to Rivers state, alleged to be a bought commissioning exercise made reckless statements in favor of his new found political friend Governor Nyesom Wike. "How do we explain that the man saddled with the impartial role of dispensing justice is now on the side of a particular group in a political dispute?

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Nigeria, UK Agree to Deepen Trade Relations Ndubuisi Francis in Abuja Nigeria and the United Kingdom (UK) have agreed to deepen trade policy cooperation in the interest of both countries, especially as the West African country heads into general elections in February, 2023. Both countries agreed that their economic partnership should support Nigerian and British businesses, create jobs for women and youth and secure greater investments in both directions. These formed part of the communique issued at the end of the eighth Economic Development Forum (EDF), in Abuja. The meeting was attended by Nigeria’s Minister of Industry, Trade and Investment, Niyi Adebayo and UK's Trade Envoy, among others. The communique which was released by the British High Commission, Abuja stated that both countries agreed that their economic partnership should support Nigerian and British businesses, create jobs for women and youth and secure greater investments in both directions. As the EDF Memorandum of Understanding (MoU) comes to a close in 2023, the UK and Nigeria

agreed to transition the EDF structure towards a potential Enhanced Trade and Investment Partnership agreement, under which both sides would continue to work together to resolve market access issues and enhance economic cooperation. The UK launched its new Developing Countries Trading Scheme (DCTS) in August, 2022. Nigeria noted that it would automatically benefit from enhanced preferences under the DCTS, given that 99 per cent of current goods exports amounting to £1.6 billion per year would be eligible for duty-free, quota-free access to the UK. Nigeria also acknowledged that new tariff reductions introduced by the DCTS could save hundreds of thousands of British Pounds annually, and that this was expected to grow in products such as cocoa and fertilisers, where it was targeting global export volumes of $1 billion and $2 billion respectively. The UK would also support specific business sectors in Nigeria that may benefit from the DCTS, through a series of technical workshops in Lagos before March 2023, to understand and better take advantage of this

new trading scheme. The UK and Nigeria welcomed the continued work of the Manufacturing Africa programme, which has supported 15 firms since the start of 2021, with the raising of anticipated foreign direct investment (FDI) of $340 million and the potential to create 6,300 direct jobs. It is leading the way on Green Manufacturing. Growth Gateway, a UK government business service supporting trade and investment between the UK and Africa, also assisted over 35 Nigerian companies with queries in 2022. Both sides agreed on the continued importance of increasing tech and digital sector links. Nigeria welcomed support provided through the UK-Nigeria Tech Hub, and through the Digital Access Programme (DAP) which

will continue to provide technical assistance and capacity building in Nigeria for digital skills, cybersecurity and local digital economies. The UK recently presented a DAP-funded study on improving the digital regulatory environment in Nigeria through streamlining regulation. Nigeria has begun implementing the Start-Up Act, which has been legislated to create an enabling regulatory environment to support successful start-ups. Nigeria and the UK noted the benefits of the UK’s deep capital markets for Nigerian tech companies seeking investment, as well as the advantages of establishing in the UK for tech start-ups looking to expand internationally. Both sides welcomed the continued work of the Finance

the support of Heads of State, efforts and funding were sustained for the MNJTF to ensure that it delivers on its mandate of ensuring a safe and secure environment in the region. “You will recall that consequent on the deteriorating security situation in the Region, the Extraordinary Summit of 15th December 2018, held here in Abuja, directed the conduct of continuous operations to completely eradicate the scourge of Boko Haram terrorism from the region. “I am glad to inform my dear brothers that in keeping with that decision, the MNJTF has since then, successfully conducted three major operations: Ops‘YANCIN TAFKI (I&II) and Ops Lake Sanity I, with, the fourth one, Ops Lake Sanity II, being planned. “The next phase of the operation will take cognisance of lessons learned from previous exercises and effectively consolidate the gains attained by preceding Ops. I am glad to note that during the execution of Ops Lake Sanity I, regrouping terrorists in the Lake Chad Islands were effectively decimated,” the president added. Buhari urged the leaders to complement the fight against terrorism with development. According to him: “Although terrorists’ threats have been significantly decimated in the region, it is worthy of note that military actions alone cannot effectively win the war against terrorism. There is the overriding need to complement military operations with the provision of sustainable development projects that will ameliorate the living conditions of the affected people in the region. “Government presence must be positively felt in the area to restore the confidence of citizens in the ability of the State to protect them and provide basic infrastructure for all. “It is in view of the foregoing, that the implementation of the Regional Strategy for the Stabilisation, Recovery, and Resilience of the Boko Haram affected Areas of the region must gain further traction without any delay. “I am glad to note the development, costing, and validation of the territorial action plans for the eight Boko Haram most affected territories of the region. “These action plans are the basic building blocks for the implementation of the strategy for the developmental needs of the people of the area. While we commend these initiatives, we must immediately commence efforts at their operationalisation. “In this regard, I urge our partners to continue to support us as we redouble the ongoing efforts at developing the region, to win the hearts and minds of

been developed and will go for final validation on December 7th, 2022. The UK agreed to look for continued ways to work with Nigeria to effectively implement the AfCFTA. "So far, the UK has supported Nigeria’s AfCFTA objectives by building the capacity of Nigerian government institutions to engage in trade negotiations and developing a framework for Nigeria’s AfCFTA National Action Committee to monitor AfCFTA implementation. "The UK is further supporting AfCFTA implementation in Nigeria through technical assistance to develop regional automotives value chains, and to support Nigerian services firms to benefit from the new trade opportunities that AfCFTA will deliver," the communique added.

9 0 P E R C E N T O F D I E - H A R D B O KO H A R A M F I G H T E R S D E A D , G O V T D E C L A R E S the mass surrender of members of the sect to the death of their leader, Ibrahim Shakau, as well as the operations of the military. This is as the military authorities, yesterday, also said some 1,952 terror suspects were undergoing investigation in the North-east, while some 900 suspects were to

go on trial next January. It further clarified that, contrary to insinuations of abortion of pregnancies of female terror suspects impregnated by insurgents, the military was not aware of such development, having received escaping female suspects, subjected them to screening, medical

B U H A R I C A N VA S S E S T I G H T S E C U R I T Y A R O U N D B O R D E R S I N L A K E C H A D B A S I N expedited collaborative actions by border control agencies and other security services to stop the circulation of all illegal weapons in the region. According to him, threat by terrorists in the region had been relatively brought under control, while the influx of weapons poses fresh challenges. “It must however be stated that despite the successes recorded by the gallant troops of the MNJTF and the various ongoing national operations in the region, terrorist threats still lurk in the region. “Regrettably, the situation in the Sahel and the raging war in Ukraine serve as major sources of weapons and fighters that bolster the ranks of the terrorists in the Lake Chad Region. “A substantial proportion of the arms and ammunition procured to execute the war in Libya continues to find its way to the Lake Chad Region and other parts of the Sahel. “Weapons being used for the war in Ukraine and Russia are equally beginning to filter to the region. “This illegal movement of arms into the region has heightened the proliferation of small arms and light weapons which continues to threaten our collective peace and security in the region,” he said. Buhari said the Multinational Joint Task Force (MNJTF) deserved commendation for various operations that had brought measurable stability to the Lake Chad Basin. According to him, “the threat of Boko Haram terrorism in the Lake Chad area no doubt brought to the fore, the imperative of enhanced collaboration among the defense forces of the region in the face of a common aggressor. “I am pleased that through the Multinational Joint Task Force we responded to the challenge, proving beyond reasonable doubt that with the requisite commitment and determination, the region can solve its challenges in the best ways possible. “The MNJTF has indeed become a model, breaking physical barriers, and affirming the workability of the common approach to conquer challenges in the area. “Permit me, therefore, to pay tribute to the untiring efforts of the officers and men of the Multinational Joint Task Force and our various National Armed Forces who continue to make remarkable sacrifices in the fight against terrorism in the region. “The efforts and memories of these gallant soldiers, some of whom have paid the supreme sacrifice in the line of duty for the survival and restoration of stability to the region, will never be forgotten.” He further reiterated that during the period under review and with

and Financial Services technical working group. As agreed at EDF7, Nigeria has expanded the membership of the working group to include more Nigerian fintech organisations. According to the communique, Nigeria presented an update on the implementation of the Africa Continental Free Trade Area Agreement (AfCFTA) at the Eight EDF, adding that a partnership agreement had been executed between the National Action Committee on AfCFTA (NAC) and the Lagos Chamber of Commerce and Industry (LCCI), with Jumia as a technical partner. "They are currently onboarding 10,000 SMEs in the cities of Kano, Lagos and Aba; these SMEs will have access to inter-Africa e-commerce/trading opportunities. "The AfCFTA strategy has also

the citizens in the area,’’ he added. The president said the Lake Chad region was faced with a complex security situation that was highly dynamic, constantly changing, and increasingly influenced by the impact of climate change and other variables, including sadly, some external factors. “These factors have made it imperative for us to regularly review the development and counterterrorism strategies that are operational in the region. “We must continue together to proffer ingenious solutions to the challenges confronting us. We must, through the Commission, continue to make concerted efforts to provide the desired leadership, and ownership and ensure that our experts and troops are adequately motivated and supported to achieve our objectives. “We must strive to continue to view our region through the lens of equity, fairness, diversity, and inclusion. It is imperative that we

all see ourselves reflected in the kind of leadership we provide for the region. “We must continue to support and contribute to the success of the organisation. We all must rise and face the challenges of the region headlong in order to deliver the bright future we envisage for our region,’’ he stated. The president said budgetary concerns remained a challenge for all member countries, considering the declining global inflows and increasing demands, adding that, “we must, however, never lose sight of the vision of the Founding Fathers of the Commission. We must continue to strive and make collaborative efforts at upholding the ideals for which the LCBC in its nearly 60 years of existence has continued to pursue.’’ “To our gallant troops in the field, ensuring the safety and stability of the region, we recommit ourselves to Continued on page 42

treatment and aided deliveries of babies, who were alive and healthy and under the care of the military. But taking journalists round the Hajj Camp in Maiduguri, which housed 14,804 repentant insurgents and families, Special Adviser on Security to the Borno State government, Brig.Gen Abdulrasaq Ishaq (rtd), said about 90 per cent of die-hard Boko Haram insurgents had died. He equally explained that of the number housed in the three camps, married males were 3,472, single males 1,773, spouses, 4,438, male children, 2,691 and female children 2,497, noting that 5000 fighters and their families were living in the three camps as well. On his part, the Theatre Commander, Operation Hadin Kai, Maj Gen Christopher Musa, while speaking in Maiduguri, said 82,237 insurgents and their families had surrendered so far, out of which 16,577 were active male fighters, 52,44 men, women and 96 children. He stated that of the 276 kidnapped Chibok girls, 57 escaped, 117 were released while 11 were rescued this year. Eleven of the Chibok girls, who recently escaped captivity now have 25 children, adding that, in all, 180 girls were out of captivity while 96 remained in captivity. Addressing newsmen too at the Joint Investigation Center,

Operation Hadin Kai, Captain Adeniyi Oluwagbenga, said 1,952 combatants were in detention, including 23 females and 11 children. He affirmed that 900 Boko Haram members would go on trial in Niger State while 323 were sent to Operation Safe Corridor in Gombe State for rehabilitation. He further explained that the trial of the suspects was moved to Niger State following the difficulty in accessing witnesses while some lawyers refused to go to Maiduguri for the trial. "Most suspects are awaiting prosecution. The Attorney-General of the Federation (AGF), has assured that by January, more than 900 of them will be moved to Niger State for prosecution. Some lawyers refused to come to Maiduguri for trial hence it can't be held in Maiduguri," he said. In a separate interview, the Borno State Commissioner for Women Affairs, Zoyara Gambo, said the 11 Chibok Girls, who recently escaped captivity had 25 children, adding that government was already taking care of the young mothers. In a chat with some of them, the young mothers expressed their desire to return to school like some of their colleagues. "We want to go back to school like others. We are not happy," they said.

IN FACE OF OIL THEFT, CBN’S RT200 INITIATIVE RECORDS $4.987BN INFLOW oil sales into our official reserves had dried up steadily from above $3 billion monthly in 2014, to an absolute zero dollars presently. However, the country’s daily oil production output has increased recently as Shell Petroleum Development Company Limited (SPDC) resumed crude oil exports at the Forcados Oil Terminal. Owing to this, there was renewed hope as the country’s oil production recently rose above the one million mark for the first time since July 2022, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) had disclosed in its latest crude oil and condensate production data for October 2022. According to Emefiele, a total of N81 billion has so far be given out as incentives to exporters of non-oil products under the programme this year. He also said the CBN was working to improve forex supply for businesses in the country. “In 2022, a total of $4.987 billion have been repatriated into the country by non-oil exporters, higher than $3.190 billion repatriated in 2021. Of this amount only $1.966 billion qualified for the rebate program, but only $1.559 billion was sold at the I & E window or for own use. “The CBN has also paid out about N81 billion in rebate to hard-working Nigerian exporters. This is a testament to the resolve of the CBN to ensure quick acceleration of the export value chain in the country. I know that there have been calls to make all exporters eligible for the rebate, and not just limiting it to finished and semi-finished products. “While we see some justification

for this, one of the goals of the RT200 program is to help quicken the process of industrialisation and encourage exporters to earn more from their export business. Economists have well-documented positive relationship between export and industrialisation,” Emefiele said. He further explained: “Export can transform the economic structure of countries, from simple, slowgrowing, and low-value activities to more productive activities that enjoy greater margins driven by technology. “We must help our exporters and our economy by adding value to what we produce and export. We are already getting feedback from banks on the interest by exporters to add value to the products they export in order to allow them to benefit from the program. “We are happy that this is happening, and we encourage more exporters to find ways to add value to their export products so that they can benefit not only from the scheme but get better value for their exports.” Emefiele pointed out that one of the goals of the RT200 program was to help quicken the process of industrialisation and encourage exporters to earn more from their export business. He noted that economists have well documented a positive relationship between export and industrialisation, saying export could transform the economic structure of countries, from simple, slowgrowing, and low-value activities to more productive activities that enjoy greater margins driven by technology.

He stressed the need for support to exporters and, “our economy by adding value to what we produce and export.” Emefiele added: We are already getting feedbacks from banks on the interest of exporters to add value to the products they export in order to allow them to benefit from the program. “We are happy that this is happening, and we encourage more exporters to find ways to add value to their export products so that they can benefits not only from the scheme but get better value for their exports.” Emefiele thank all the banks, the Nigeria Customs Services, the Nigeria Export Promotion Council, Nigerian Ports Authority and hardworking Nigeria exporters for flying the Nigerian flag everywhere and for making the program a success. Furthermore, he explained that the apex bank was working on improving access to forex to the genuine needs of players in the import-export ecosystem to further boost economic activities. Emefiele added: “I want to assure you that the bank is committed to strengthening and expanding foreign exchange supply into the market. You are all important in this national clarion call of expanding the supply of foreign exchange to the country. “For exporters, flying the flag of Nigeria in the international market, the Bankers’ Committee and the CBN stands ready to partner with you to achieve your goals. You can benefit from the many financial programs introduced by the CBN

through your bank to grow your business. “Therefore, I call on this gathering to candidly interact and make constructive and innovative suggestions towards exploring the non-oil export sector as a more sustainable means of increasing financial flows into the economy and generating employment to spur growth.” He, however, revealed that in terms of process and infrastructure for improving trade performance, the apex bank in collaboration with relevant stakeholders was working to enhance automation and digitisation of the trade processes. “As of today, the SON Conformity Assessment Programme (SONCAP) and the National Agency for Food and Drug Administration and Control in Nigeria (NAFDAC) certificate and Marine insurance certificate are automated and fully integrated with the Trade Monitoring System. “In addition, we are working with Quarantine Service to integrate their permits and certificates into the system and very soon the Nigeria Ports Authority’s eCall Up System will also be integrated. Some other enhancements measures have also been done with eNXP including integration with SGD and the development of the PIA portal aimed at the digitisation of the process of issuing Clean Certificates of Inspection (CCIs) by PIAs and ease of scheduling of inspection by exporters. “All these are made possible because of the interest shown and the commitment made by all of us gathered in this room and beyond,” he said.

WEDNESDAY NOVEMBER 30, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY NOVEMBER 30, 2022

MIDWEEKPOLITICS

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com

08033025611 SMS ONLY

Tinubu’s Pledge of Renewed Hope at Lagos Rally The presidential candidate of All Progressives Congress, Asiwaju Bola Tinubu, has recommitted himself to his campaign mantra of renewed hope at a special rally organised by Lagos APC in his support and other candidates in the state standing for 2023 elections. Gboyega Akinsanmi reports

Tinubu

ast Saturday, members of Lagos APC thronged the Teslim Balogun Stadium, Surulere in great numbers. Unlike December 10, 2014 when the party’s delegates gathered at the same venue for the presidential primary then as an opposition party, the mission this time was to formally present their presidential candidate to the people of Lagos State now as a governing party. Eventually, the rally turned out to be one huge carnival that celebrated Asiwaju’s sterling contribution to the socio-economic development of Lagos State. At one end, the cultural troupe of Isale Eko entertained the party faithful with masquerades dancing to their delight. At the other end, the popular Fuji maestro, Alhaji Wasiu Ayinde, took over the stage, singing diverse songs of endorsement that predicted Asiwaju’s victory in the next presidential poll. From all indications, it was indeed a great convention that unquestionably reverberated the pledge of renewed hope, which Tinubu made to the people of Nigeria in his campaign document christened “Renewed Hope 2023: Action Plan for a Better Nigeria.” Evidently, from the number of supporters that converged on the stadium, Asiwaju’s quest to govern Nigeria might be as good as a reality. Obviously, the size of the crowd might not be sufficient to arrive at this conclusion. However, the repertoire of the APC gladiators that attended the rally from all states of the federation attested to Asiwaju’s progressive ascendance to the presidential villa in Abuja. The National Chairman of the APC, Senator Abdullahi Adamu, led the retinue of the gladiators that thronged the stadium in support of Tinubu’s presidential ambition. From the Director-General of the APC Presidential Campaign Council, Senator Simon Lalong to the Chairman of the Progressives Governors Forum, Senator Atiku Bagudu; Speaker of the House of Representatives, Hon. Femi Gbajabiamila; Kaduna State Governor, Mallam Nasir el-Rufai and the Minister of Works and Housing, Mr. Babatunde Fashola; Kano State Governor, Dr. Abdullahi Gaduje and the Minister of Information and Culture, Alhaji Lai Mohammed, the gathering was perhaps a witness to what APC stands for in modern Nigeria. Also, with a long list of former governors, serving senators, members of the National Working Committee, serving ministers, former federal and state lawmakers that trooped in for Asiwaju, the presidential rally was no doubt a clear statement that Lagos was a no-go area for the opposition parties, which according to reports, had been playing ethnic, religious and tribal cards to gain foothold in the state with 7.075 million registered voters. After painstakingly observing the crowd of the adherents and the number of the gladiators that attended the presidential rally from the rostrum, Adamu made a

Adamu

conclusion that the gathering was truly a testament to Asiwaju’s overwhelming popular approval, not just in Lagos State, but also in other states of the federation, including some of those under the control of the opposition parties. In reference to the size of the crowd, Adamu unequivocally observed that the people of Lagos ``have spoken, and they have spoken well.” But beyond the crowd, Adamu challenged the state’s registered voters “to transform Asiwaju’s street popularity to electoral victory.” He also challenged them to come out in greater numbers on February 25, 2023 to vote for Tinubu and on March 11, 2023 to vote for other candidates in the state standing for different elections. The crowd is assuring. However, it is not over until it is over. Also, citing an array of other serving governors, ministers, senators, lawmakers, NWC members and council chairmen that had already ratified his presidential candidature, Adamu told the gathering that Asiwaju “is apparently a president-in-waiting,” a statement which other speakers at the rally convincingly attested to. Irrespective of how representative the public approval he enjoys nationwide, however, Adamu observed that Tinubu would still have to stand for the election to confirm his popularity, hence the need for all registered voters in the state “to come out in greater numbers to vote for our candidate.”. With the number of party faithful that converged on the venue of the rally, Lalong, the Governor of Plateau State, believed that Asiwaju “has obviously made the next presidential election much easier for the APC to win by landslide.” He, however, told the party

Gbajabiamila

Bagudu

faithful to step up mobilising voters across the state to position Asiwaju for victory in the 2023 presidential poll. From his antecedent as governor of Lagos State, Lalong noted that Asiwaju “is undoubtedly the best among the candidates jostling for the presidency in the country today.” Also, from his invaluable input as one of the founding leaders of the APC, Lalong added that Asiwaju obviously “stands above all other presidential candidates,” irrespective of what the critics had said to de-market him. Speaking on behalf of the progressive governors, Bagudu commended Lagos State Governor, Mr. Babajide Sanwo-Olu, the Deputy Governor, Dr. Obafemi Hamzat and Lagos APC at large for organising the special presidential rally in support of Asiwaju. The rally, according to him, obviously confirms Asiwaju’s popular support and his capacity to lead Nigeria out of its complex challenges. Bagudu equally acknowledged diverse challenges currently confronting Nigeria. As diverse reports showed, the challenges range from security challenges to fiscal headwinds, acute infrastructure deficit, dysfunctional education system and intractable food crisis, among others. As he did when he emerged the governor of Lagos State in 1999, Bagudu assured Nigerians that Tinubu would transform Nigeria if eventually elected on February 25, 2023. On these grounds, Gbajabiamila made a passionate appeal to the leaders and people of the South-east and South-south to invest in Asiwaju’s presidential aspiration, perhaps to avoid the repeat of history, which if not properly handled, might jolt into oblivion in the mainstream politics. One after the other, Gbajabiamila also faulted allegations that Asiwaju falsified his age; claims that he was indicted in the US for complicity in drug peddling and speculations that he was not healthy enough to provide leadership that Nigeria would require in this time of crisis. Beyond the accounts of all the speakers, Asiwaju mounted the rostrum amid musical interjections and public accolades that left people almost speechless at the presidential rally. Overwhelmed by shouts and songs of endorsement from the crowd of the party faithful, Asiwaju could only clearly assure the people: “You will never be forgotten.” This assurance further elicited public

accolades that rent through and almost ended the rally before Asiwaju completed the delivery of his address. As the shouts and songs of approval quelled, Asiwaju further said: “In education, healthcare, food security, job creation and in virtually all parts of our national life, I will not breach my covenant with the people of Nigeria irrespective of languages, races and religion.” Tinubu acknowledged diverse heinous challenges the administration of President Muhammadu had been confronting since 2015. From intractable security challenges created by the governments of the PDP to global economic turbulence that triggered fiscal crises and the outbreaks of COVID-19 that forced the country into lockdown in 2020, Asiwaju argued that Buhari had led Nigeria in the time of crises. Despite these crises that plunged other countries into internal instability worldwide, Asiwaju claimed that Buhari never failed his fatherland. Rather, he added that the president had decisively responded to the national challenges through progressive policies and pro-people programmes that eventually brought about economic and social stability nationwide. With Buhar’s records of performance, Asiwaju promised that the next presidential election “will be a broom revolution,” according to him, which would finally be deployed to sweep the main opposition party to the dustbin of history. Asiwaju justified this proposition on what he described as PDP’s unacceptable antecedents as the party in government between 1999 and 2015. For 16 years, he historicised how the PDP betrayed the trust of over 200 million people, whose hope and aspiration became wild dreams under the PDP. Asiwaju also observed that the APC has obviously done in eight years what the PDP could not do in 16 years. For 16 years, the presidential candidate pointed out how the PDP failed “to reconstruct Lagos-Ibadan expressway that connects the country’s economic nerve-centre.” He also attested to how PDP promised in vain to construct the Second Niger Bridge that connects the South-east to other parts of the federation. Among others, Asiwaju cited the failure of the PDP to reconstruct the East-West road that connects all the states of South-south. Under Buhari’s administration, Asiwaju observed that APC had excelled with the construction and reconstruction of these strategic infrastructure projects. By implication, he concluded that APC had succeeded where PDP absolutely betrayed the trust of Nigerians. To sustain progressive governance, therefore, Tinubu challenged the people of Nigeria to use their PVCs “to reject the main opposition party in the forthcoming elections on the ground that it was in government for 16 years with little or nothing to show for it. But as for us in the APC, we remain committed to our pledge of renewed hope for all.”

Asiwaju also observed that the APC has obviously done in eight years what the PDP could not do in 16 years. For 16 years, the presidential candidate pointed out how the PDP failed “to reconstruct Lagos-Ibadan expressway that connects the country’s economic nerve-centre.” He also attested to how PDP promised in vain to construct the Second Niger Bridge that connects the South-east to other parts of the federation.

T H I S D AY ˾ WEDNESDAY NOVEMBER 30, 2022

POLITICS

Fayemi’s Desperate Move to Control Ekiti Assembly Samuel Ajayi who has been monitoring recent developments in Ekiti State House of Assembly which culminated in the election of two Speakers within one week, writes on the background of the crisis and why apolitical leaders in the state may have to step in to resolve issues at stake

Oyebanji

Fayemi

fter successfully installing Biodun Oyebanji as his successor, former Ekiti State governor, Kayode Fayemi, felt he must also extend that control to the state House of Assembly by installing a successor to the late Speaker, Hon Funminiyi Afuye. But a coup de grace by some renegade Assembly members put paid to this; albeit temporarily. In what could be described as a ‘counter coup’, Fayemi’s loyalists staged the impeachment of the new Speaker, Hon Gboyega Aribisogan, and installed his preferred candidate, Hon Bunmi Adelugba, which has now thrown the Assembly and, by extension the state, into a needless crisis.

him kept very low profile and didn’t show their hands, obviously due to the fact that the man’s body was still in the morgue, the moment his body was lowered into the grave on Friday, November 11, 2022, they went to work. Immediate past governor of the state, Dr Kayode Fayemi, whose plans to become the dominant political figure and decider in the state are no longer hidden, was the first to make a move. He summoned the remaining ruling All Progressives Congress (APC) members of the 26-member Assembly to his Ado-Ekiti home on Sunday, November 13th and told them what he wanted: Olubunmi Adelugba of Emure Constituency must emerge the new Speaker. At the meeting with Assembly members were Bisi Egbeyemi, Modupe Adelabu and Abiodun

A Death and the Marching Order… The moment the death of Speaker of Ekiti State House of Assembly, Hon Funminiyi Afuye, was announced, those who knew the political undercurrents in the state immediately the new governor, Biodun Oyebanji, was sworn-in would tell you that there would be problematic days ahead. While those who were angling to succeed

Adelugba

Aribisogan

Aluko, all former deputy governors. Also there were Paul Omotosho, the state party chairman, Chief Alaba Bejide, a party stalwart and Garba Arigundade, the secretary of the party in the state. According to sources, Fayemi and the party leaders said they did not want the election of the new Speaker to create rancour and wanted the seat to remain at Ekiti South Senatorial District and hence should support Adelugba. Sources said Aribisogan stood up and said they had heard but would go to their various constituencies for consultations and there were also rules and the Constitution of the Federal Republic of Nigeria to follow. Even at that, Fayemi and the party leaders were said to have told the Assembly members that whatever they came back with, Adelugba must emerge. During the meeting with the APC Assembly members, one of them was said to have told him in plain terms that they were surprised that the former governor could call them and give them political instructions after at least 15 of them

were denied tickets to go back to the House. In fact, practically all Assembly members on the platform of the party who supported the current governor, Oyebanji, to pick the party’s governorship ticket were inexplicably denied ticket to return to the House. One of them was the one who protested to Fayemi after he asked them to ensure the emergence of Adelugba as the new Speaker. Fayemi was said to have appealed to them to sheath the sword and ensure that Adelugna emerge as the new Speaker. The Assembly members were said to have agreed to ensure the former governor’s wishes were achieved but what they did not tell him was that they had other plans. It was when Fayemi’s foot soldiers who were in the House to ensure that things went as planned listened to the person to nominate Adelugba that they got the shocker of their lives. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Obi, Soludo and Fence Mending David-Chyddy Eleke in this piece reports that Anambra State governor, Prof Chukwuma Soludo, had a chance meeting recently with his predecessor and presidential candidate of the Labour Party, Mr Pater Obi, at a church programme in Awka, where he denied claims that he received money to demarket Obi.

he essay by the Anambra State governor, Prof Chukwuma Soludo positing that he was sure that his predecessor, and presidential candidate of the Labour Party (LP), Mr Peter Obi, was not capable of winning the February, 2023 presidential poll has been roundly criticised by many people, including Igbo and non Igbo indigenes who alleged that the governor may have been paid to run down his brother. There are several other allegations against the governor for that piece, but the most brazen was one that authoritatively stated that the governor was paid the staggering sum of $28 million by the candidate of the All Progressives Congress (APC), Asiwaju Bola Tinubu, to help him demarket Obi to his own advantage. But the governor of Anambra State, Prof. Charles Soludo, has denied the allegation that he collected $28 million to blackmail Peter Obi. Soludo made the denial while speaking with journalists in Awka after the thanksgiving mass for Most Rev. Paulinus C. Ezeokafor in celebration of his 70th birthday at St. Patrick’s Catholic Church. Both Soludo and Obi are Catholics, and last weekend, the event of the 70th birthday of the Catholic Bishop of Awka Diocese, Most Rev Dr Paulinus Ezeokafor was one event that drew Catholics and non-catholics alike. Ezeokafor, a humble and kind prelate is one person who has been described as a unifier of Christendom, without exactly emphasizing on his fate catholicism, so for his 70th birthday, it was very clear that it would be a huge ceremony. The event started with hordes of dignitaries from all walks of life, from within the state and beyond thronging the St Patrick’s Cathedral,

Obi

Soludo

where the celebration held. Among the revered dignitaries that arrived the event early enough was the governor, Prof Soludo, who was promptly ushered into a reserved seat at the front of the church. A mass to herald the celebration was already in session when Obi, who had been on the move from one part of the country to the other for his campaigns, entered the church. Typical of Obi, who even as a governor believes that big men should not be honoured with front seat when they are late, entered the church hall and unassumingly took

a vacant seat at the back. Though the mass was on, but when Soludo learnt that Obi was seated at the back seat inside the same hall, he excused himself and walked straight to the back, where both men passionately hugged each other, before Soludo led Obi to the front seat. It was a bewilderment to many who had since after the release of Soludo’s essay attacking Obi had thought that both men were at war with each other. Soludo later reacted to the perceived feud and also the allegation of having collected money to rundown Obi. Soludo who spoke during an interview with newsmen said: “If I had truly received $28 million to blackmail my brother, Peter Obi, I should be extremely wealthy as of today. For

those forging blackmail and all that, including the one they said I collected bribe to say what I said, I asked them to bring it so I will use it to construct roads for Anambra people. If Soludo is into bribery, I would have been a multi-trillionaire now. “Today is very special. When we came into the service, it was the first time, Obi and I are meeting at a public event and in a Catholic Church which the two of us belong to. I think it was divine. When I came in, I quickly went to where he sat and hugged him, people watched with bewilderment as if it was a drama, asking if it was not the same people quarrelling,” he added. Speaking about his recent essay on Obi, Soludo said it is political, adding that he spoke with Obi about two times just last night. He added that politics has not crept into their relationship as brothers. According to him: “There is no rift between Obi and me at a personal level. Nobody snatched each other’s wives. What appears to be the rift between us is fundamental political differences. Nothing else. On the fundamental differences we have, we are going to meet in the next few weeks. We’ve agreed to discuss and iron out our differences.” Obi in his earlier reply had simply described Soludo as his brother, and as a senior and a professor, had also added that he knew he was a trader and capable of doing less as a governor of the state, and believed that his successor, Soludo who is a professor will do far more. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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

Showcasing Africa's Best in Security The hall of Sir Dawda Kairaba Jawara International Conference Centre, Banjul, The Gambia, was recently thrown open to showcase Africa's best in security. Organised by Africa Security Watch Awards and Conference, Chiemelie Ezeobi reports that this 17th edition offered an opportunity to honour deserving persons drawn from the military, the police and even immigration, who distinguished themselves in service to their respective nations. Also recognised were individuals, as well as governments who champion security of member states and the continent at large

Some of the awardees at the 17th Security Watch Africa Awards in The Gambia

The Chief of the Naval Staff, Vice Admiral Awwal Zubairu Gambo (CFR) and wife, NOWA National President, Hajia Aisha Nana Gambo, flanked by some senior naval officers; Major General Victor Okwudili Ezegwu, Commander of the Infantry Corps of the Nigerian Army; and Air Vice Marshal NE Calmday, Chief of Administration, Nigerian Air Force

o showcase the best in security in Africa, The Gambia recently hosted the 17th Africa Security Watch Awards Initiative and Conference (SWAI). Known fondly as the Smiling Coast of Africa, the nation hosted the best of Africa from November 9 to 11, 2022. Although the earlier plan to host the event in the United Arab Emirates (UAE), Dubai, was thwarted by the recent visa ban on Nigerians by the UAE authorities, it did not in anyway take the shine off the essence of the award, a fact that those who did not make it to The Gambia, were oblivious to. Keeping Faith Despite the odds, President / Chief

Executive Officer of Security Watch Africa (SWA), Mr. Patrick Agbambu, kept the faith to host the '17th Africa Security Watch Awards and Conferenc at the Sir Dawda Kairaba Jawara International Conference Centre, Banjul, The Gambia. On the choice of awardees, he said persons, governments and organisations that performed well in the security sector were rightfully chosen to be honoured. Rewarding Diligence For SWAI, the award constantly reinforces the op-

L-R: Prof Henri Fouche; CEO SWAI, Mr Patrick Agbambu and Major General Victor Okwudili Ezegwu, who received the award for courage, commitment, and patriotism

portunity to reward diligence in service, and rightfully so. To the awardees, it was an honour well deserved as their excellence and hardwork finally paid off. A total of 68 persons, including individuals, organisations, academia, clergy, media, and security agencies from across the African continent, were honoured for their exemplary performances in their various fields of endeavour, especially in the security sector. Although the Chairman, Board of Trustees, General Jospeh Nunoo-Mensah (Rtd), the former chief of defence staff, Ghana, was unavoidably absent, he had earlier expressed his congratulations to the deserving ones.

Award Ceremony The grand event started with a red carpet reception and cocktail but the occasion kicked off properly with the melodious national anthem of The Gambia. This was followed by the opening virtual remarks by the chairman board of trustees, former Chief of Defence Staff, Ghana and Chairman Board of Trustees of SWAI, Gen. Joseph Nunoo-Mensah (Rtd.). In between light jokes by Eric and his co-compere, the evening witnessed the rich exhibition of The Gambian culture, especially with the talking drums by a retired Continued on page 19

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The Nigerian Air Force team at the awarded by Air Vice Marshal Calmday

The Gambian Police Force

Female oﬃcers of The Gambian Police Force

The Director General of Gambia Department of Immigration, Mr. Seedy Touré, giving Major General Markus Kangye, Chief of Civil/Military Aﬀairs, Nigerian Army, his award

CS Julian Wealth Igbudu of the SWAT Team Akwa Ibom State Police Command receiving his award for “Use of Technology in Security”

Gambia’s Inspector General of Police, Abdoulie Sanyang, got the Golden Star Award for Outstanding Police Service in West Africa

Gambian soldier. To encapsulate the entire two-day conference, member SWAI board of jury and a rapporteur, Brigadier General SK Usman read the communique. The Deserving Among the honourees were the Chief of Naval Staff (CNS), Nigerian Navy, Vice Admiral Awwal Gambo Zubairu CFR, who was awarded Africa’s Most Outstanding Chief of Naval Staff; Chief of Army Staff, Nigerian Army, Lieutenant General Faruk Yahaya CFR, who got Africa’s Most Outstanding Army Chief; and the Chief of Air Staff, Nigerian Air Force, Air Marshal Oladayo Amao, CFR, who was honoured with the Most Outstanding Chief of the Air Staff in Africa, as well as Nigeria’s Inspector General of Police, Usman Alkali Baba CFR, who bagged the Golden Star Award for Exemplary National Police Service in Africa. Also awarded was former Chief of Army Staff and Ambassador to Benin Republic, Lieutenant General Tukur Yusufu Buratai (retired), who got the African Security and Leadership Award; Governor of Akwa Ibom State, Nigeria, Udom Emmanuel and his state, which got Nigeria’s Best Security and Safest State Award and Best Governor of West Africa, respectively. For The Gambia, its Director General of Department of Immigration, Mr. Seedy Touré, was awarded Africa’s Golden Star Award for Exemplary

The Chief of Naval Staﬀ, Vice Admiral Awwal Gambo Zubairu (CFR), with his award of Africa’s Most Outstanding Chief of Naval Staﬀ

Service in West Africa; Ghana’s Inspector General of Police, Dr. George Akuffo Dampare, was given the Most Innovative Police Chief in West and Central Africa Award; and Gambia’s Inspector General of Police, Abdoulie Sanyang, got the Golden Star Award for Outstanding Police Service in West Africa. Also awarded was Lagos

State Commissioner for Health, Professor Akin Abayomi; Major General Victor Okwudili Ezegwu, Commander of the Infantry Corps of the Nigerian Army, who received an award for courage, commitment, and patriotism. Other awardees include the Force Commander of the MNJTF, Major General Abdul Khalifa Ibrahim; Theatre Commander of Operation Hadin Kai, Major General Christopher Gwabin Musa; Major General Taoreed Abiodun Lagbaja, General Officer Commanding

1 Division Nigerian Army; and Major General Waidi Shaibu, General Officer Commanding 7 Division Nigerian Army. Similarly, the Directorate of Public Relations and Information of the Nigerian Air Force, was presented with the SWAI Golden Award for Security Information Management in West and Central Africa; while Assistant Inspector General of Police, Eboka Friday, Brigadier General Lar, and Commissioners of Police Abiodun Sylvester Alabi and Kolo Yusuf were honoured for their outstanding achievements and contributions to peace and security. The Commissioners of Police, Idowu Owohunwa and Ari Mohammed Ali of the Nigeria Police Force, were equally honoured. Other recipients of awards include Chief Superintendent of Police Elizabeth Oluwatoyin Opadola, who was given the "Best Divisional Police Officer in West and Central Africa Award," and CSP Julian Wealth Igbudu, who won an award for Best Use of Technology. In addition, a former Minister of the Federal Government of Nigeria, the late Engineer Bunu Sheriff, was posthumously honoured with an award. When the curtains drew close on the award ceremony, thus signifying the end of the three-day epoch making event that shaped discuss in and of Africa, it was glaring that truly there is continuous need to honour those whose numerous sacrifices have kept, as well as, keep us safe.

20 T H I S D AY WEDNESDAY NOVEMBER 30, 2022 TR

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& RE A S O

Wednesday November 30, 2022 Vol 27. No 10094

opinion@thisdaylive.com

www.thisdaylive.com

The February Presidential election is a golden opportunity to break away from our iniquitous past, writes SONNIE EKWOWUSI

‘BUILDING OUR FUTURE TOGETHER’ FEMI OGBONNIKAN writes that the Ogun State government has made significant strides in infrastructure development

See page 21

BRIDGING DIGITAL DIVIDE AND INTERNET FOR ALL Some 2.7 billion people will be connected by 2025, writes SONNY ARAGBAAKPORE

See page 21 EDITORIAL

THE AIR POLLUTION CASUALTIES

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1LJHULD LV UDQNHG WKH À IWK LQ WKH ZRUOG DPRQJ FRXQWULHV ZKRVH FLWL]HQV DUH SURQH WR FRPPLW VXLFLGH $ EDJ RI ULFH QRZ VHOOV IRU 1 WKH VDODU\ RI PDQ\ 1LJHULDQV What is most nauseating is that, amid WKHVH FDODPLWLHV 3UHVLGHQW %XKDUL NHHSV gallivanting from pillar to post, beating his chest in the euphoria of triumph and WHOOLQJ WKRVH ZKR FDUH WR OLVWHQ ´, DP QRW D IDLOXUH , DP D JRRG PDQ , ZLOO QRW OHDYH R΀ FH D IDLOXUHµ ,V WKLV QRW ODXJKDEOH" $ 3UHVLGHQW ZKR KDG DOUHDG\ IDLOHG LV JLYLQJ KLPVHOI D SDVV PDUN $Q\ZD\ WZR WKLQJV LQ P\ YLHZ DUH GHGXFWLEOH IURP %XKDUL·V JORDWLQJ )LUVW %XKDUL IRUJHWV WKH WLPH WHVW DSKRULVP FUHGLWHG WR 6KHLNK 8WKPDQ 'DQ )RGLR WKDW FRQVFLHQFH LV DQ RSHQ ZRXQG DQG RQO\ WUXWK FDQ KHDO LW 3ULFNHG E\ WKH SDQJV RI KLV FRQVFLHQFH %XKDUL KDV EHHQ placating his conscience and telling those ZKR FDUH WR OLVWHQ WKDW KH LV QRW D IDLOXUH +H IRUJHWV WKDW RQO\ WUXWK DQG MXVWLFH FDQ KHDO ZRXQG 6HFRQG 0U 3UHVLGHQW LV QRW LQ WRXFK ZLWK UHDOLW\ RWKHUZLVH KH FDQQRW EH JLYLQJ KLPVHOI D SDVV PDUN 7KH 3UHVLGHQW has refused to read the mene, mene, tekel, XSKDUVLQ HPEOD]RQHG RQ WKH ZDOOV RI $VR 9LOOD 3UHVLGHQWLDO %XLOGLQJ $EXMD +H FDQ·W XQGHUVWDQG WKDW KLV HLJKW \HDU VWHZDUGVKLS KDV FRPH WR D SDWKHWLF DQG UXLQRXV HQG +H VHHPV QRW WR XQGHUVWDQG WKDW DERXW of Nigerians had already judged him a failure and that there is nothing he can do WR UHYHUVH WKHLU MXGJPHQW DJDLQVW KLP &RQVHTXHQWO\ WKH )HEUXDU\ presidential election is a golden opportunity WR EUHDN DZD\ IURP RXU LQLTXLWRXV SDVW 7R WKRVH UHJUHWWLQJ DQG VRUURZLQJ IRU FRPPLWWLQJ D PRUWDO VLQ LQ RU E\ YRWLQJ IRU %XKDUL , VD\ )HEUXDU\ LV WKH GD\ RI VDOYDWLRQ ,W LV WKH DFFHSWDEOH WLPH 7KHUHIRUH WKH\ VKRXOG PDNH DPHQGV DQG DWRQH IRU WKH VLQ ZKLFK WKH\ FRPPLWWHG LQ RU E\ YRWLQJ IRU FDQGRXU FRQWHQW FRPSHWHQFH DQG FKDUDFWHU LQ Let us make amendments today that grace PD\ DERXQG :H DUH WKH FKLOGUHQ RI WKH OLJKW QRW RI GDUNQHVV /LJKW KDV QRWKLQJ LQ FRPPRQ ZLWK GDUNQHVV 7KHUH LV QR GRXEW WKDW %XKDUL KDV HQGRUVHG D VWRRJH WR VXFFHHG KLP LQ 7KHUHIRUH OHW XV UHVROYH WR PDNH D FRPSOHWH EUHDN ZLWK %XKDULVP We should be aiming to breathe fresh air LQ 'RQ·W WHOO PH LW LV LPSRVVLEOH WR EUHDN DZD\ IURP RXU LQLTXLWRXV SDVW $OO WKLQJV DUH SRVVLEOH WR WKRVH ZKR EHOLHYH 7KH .HQ\DQV GLG LW WKLV \HDU E\ HOHFWLQJ :LOOLDP 5XWR ZKR UDQ IRU 3UHVLGHQW IRU WKH À UVW WLPH ,Q IDFW 5XWR IHOO RXW ZLWK SROLWLFDO JRGIDWKHU 8KXUX .HQ\DWWD $V D UHVXOW .HQ\DWWD EDFNHG 0U 5DLOD $PROR 2GLQJD WR VXFFHHG KLP LQ R΀ FH %XW 5XWR FDPH IURP EHKLQG DQG ZRQ WKH HOHFWLRQ Ekwowusi writes from Lagos

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WEDNESDAY NOVEMBER 30, 2022

FEMI OGBONNIKAN writes that the Ogun State government has made significant strides in infrastructure development

‘BUILDING OUR FUTURE TOGETHER’ Development is work in progress. It is because socio-economic growth is a continuous process and an unfolding endeavour that never ends until it is cut short by death, which means that every step in the journey to a higher level of comfort and greatness is as important and worthy as any other step. In so far as the development of infrastructure is concerned, Ogun State has never had it so good. Of course, performance assessment depends on the eyes with which individual views the development we see happening in the state under the present administration of Governor 'DSR $ELRGXQ 7KH IDFW WKDW ZH VHH D VLJQLÀFDQW WUDQVIRUPDWLRQ RI WKH infrastructure landscape in the three senatorial districts in the state today GRHVQ·W PHDQ LW LV VLJQLÀFDQW RU HYHQ noticeable to some other people because

RI WKH GLͿHUHQFHV LQ RXU SHUFHSWLRQ DQG MXGJPHQW :H NQRZ VRPH F\QLFV ZLOO QRW care a hoot about the current economic reality of our time. Many perfectionists, cynics or pessimists too don’t realise the limitation of resources available at the disposal of the government at this time of the global economic meltdown. Regardless of individual opinion, bias and prejudice, there is no doubt that the governor has raised the threshold of JRRG JRYHUQDQFH LQ WKH VWDWH $QG LW FDQ only get better. $V FDQ EH ULJKWO\ LQIHUUHG IURP WKH governor’s address during the recent commissioning of some projects, it is no longer an end to be celebrated but rather just another stepping stone on the way to bigger and better things. You could see happiness and joy on the faces of Remo people who were present at the commissioning of 4km Oba Erinwole road which had become almost impassable before the coming of the present administration. Important as the road is to the economic well-being of the people of Sagamu, Ogijo, and even Ikorodu in Lagos State, it was neglected IRU SROLWLFDO SHWWLQHVV 7KH $NDULJER DQG Paramount Ruler of Remoland, Oba %DEDWXQGH $MD\L LQ KLV NH\QRWH DGGUHVV at the occasion, gave testimony that the road before the reconstruction was one of the most deplorable roads in the state. The story is the same for the roads WUDYHUVLQJ ,ODUR WR ,ODUD $MHER WR $MHQEDGHOH 2GHGD WR 2GRJEROX ,ZRSLQ to Iwoye, Iperu to Ipokia, Sango- Ota to Sagamu, Ijebu- Ode to Ijoko, Igbesa to Igbogila.

It is, therefore, gratifying to note that *RYHUQRU $ELRGXQ KDV VHW WKH WRQH IRU D paradigm shift in governance, believing that people are the ultimate object of development. It was a promise kept when traditional rulers, state functionaries, party faithful, and other critical stakeholders converged on Sagamu, November 21, 2022 to commission 2ED (ULQZROH URDG LQ IXOÀOOPHQW RI the governor’s electioneering promise to prioritize the development of road infrastructure throughout the length and breadth of the state. The epoch-making event followed the successful completion and FRPPLVVLRQLQJ RI $UHSR -RXUQDOLVW Estate Road, Igan/Ishamurin/ Odo6KLNLWL 5RDG $JR ,ZR\H 2NH 2OD Road in Imeko, among others. Indeed, this year has been an all-around year of commissioning and celebration across all parts of the state. $QG LW LV MXVW WKH EHJLQQLQJ :KDW LV more? From now till May 29, 2023, when WKH FXUWDLQ GUDZV RQ WKH ÀUVW WHQXUH of the administration, there can be no dull moment again as the governor has given an assurance that there will be commissioning of, at least, one road project per week across all the three senatorial districts of the state. That appears to be a tall ambition, right? Yes, it is. But it is doable with the commitment of focused leadership. To meet its aggressive and insatiable quest for infrastructural transformation, the administration has already evolved DOWHUQDWLYH ÀQDQFLQJ RSWLRQV VXFK DV Public-Private-Partnership (PPP), the establishment of an Infrastructure Development Bond, and other initiatives to aid the delivery of the administration’s agenda for development. :LWK WKH LQLWLDWLYH RYHU PDMRU URDGV and others (Federal roads inclusive) totalling 400km have been constructed, reconstructed or rehabilitated across the State within the three and a half years of the administration. +HDU IURP WKH KRUVH·V PRXWK ´:H have spent the last three and half years, rekindling the hope and trust of our SHRSOH LQ WKHLU *RYHUQPHQW :H KDYH prioritised the delivery of services and remained focused and committed to the implementation of our ‘Building our )XWXUH 7RJHWKHU· $JHQGD :H UHPDLQ D promise-keeping administration! “This administration in three years DQG VL[ PRQWKV KDV GRQH PRUH LQ WHUPV of kilometres of roads than previous administrations in the State. These road projects include amongst others: Ilaro – Owode Road, Ijebu-Ode-Mojoda(SH 5RDG $EHRNXWD 6LXQ 6DJDPX ,QWHUFKDQJH 5RDG $WDQ /XVDGD $JEDUD 5RDG 3DQVHNH $GLJEH 2SDNR 5RDG ,OLVKDQ $JR ,ZR\H 5RDG HWF “Let me emphasise that we are equal to the task of commissioning at least one SURMHFW SHU ZHHN XQWLO ZH HQG RXU ÀUVW term because we are focused, deliberate, and determined to make Ogun a champion sub-national that will be an envy of others in terms of service delivery. Ogbonnikan writes from Abeokuta, Ogun State

Some 2.7 billion people will be connected by 2025, writes SONNY ARAGBA-AKPORE

BRIDGING DIGITAL DIVIDE AND INTERNET FOR ALL :LWK D PXOWL VWDNHKROGHU VWUDWHJ\ DQG collaborative regulatory regimes of the 193-member nations of the International Telecommunications Union(ITU), the unconnected 2.7billion population will be connected by 2025. This is the fulcrum of the ITU Broadband Commission’s report released ODVW ZHHN ,W VSHFLÀFDOO\ SODQV WR DGYDQFH global digital transformation in this regard. Some countries including Nigeria have keyed into this initiative to sustain the tempo for broadband access by the year 2025.

Nigeria currently has broadband coverage of 44% and its target is 70% by 2025 according to the National Broadband Plan (2020–2025). Part of ITU initiative to connect the 2.7billion people by 2025 formed the theme at a forum LQ 6DXGL $UDELD UHFHQWO\ 7KH FRQIHUHQFH URVH with a communique stating that advances in space and satellite technology combined with evolving wireless connectivity are essential to FRQQHFW SHRSOH ZKR UHPDLQ H[FOXGHG IURP WKH digital revolution. The conference was tagged ´&RQQHFWLQJ WKH :RUOG IURP WKH 6NLHVµ IRUXP +RVWHG E\ WKH ,78 DQG 6DXGL $UDELD·V Communications, Space and Technology Commission, the forum brought radiocommunication and space industry H[SHUWV WRJHWKHU WR H[SORUH QHZ ZD\V WR enhance global digital connectivity. “Digital networks and technologies continue to empower and enrich the lives of billions of people worldwide,” said ITU SecretaryGeneral Houlin Zhao. :KLOH PDQ\ SDUWV RI WKH JOREH DUH connected, there is still much work to do to bring in the remaining third of the world’s population. “Innovative aerial and spaceborne communication networks have the potential WR DGYDQFH RXU HͿRUWV WR EULGJH WKH GLJLWDO divide at country and global levels,” the ITU H[SODLQHG Recognizing the need to reach the 2.7 billion people still unconnected around the world, the public-private forum focused on technological developments and innovative business models for aerial and space-based connectivity. It also highlighted how regulators and governments are working alongside industry to unleash untapped potential in today’s 5G networks, as well as in the journey towards 6G. $V WKH ,78 %URDGEDQG &RPPLVVLRQ 5HSRUW 2022 states “Internet use grew during the COVID-19 pandemic, a new Broadband Commission but in spite of this, there is an urgent need for broadband connectivity “that LV ÀW IRU SXUSRVH LQ WHUPV RI DͿRUGDELOLW\ DQG accessibility.” The report says 66 per cent of the global population – some 5.3 billion people – used the Internet in 2022, up from 54 per cent

in 2019. “Broadband played a central role in this uptake after the pandemic shifted much of daily life online, from remote work and learning to online shopping and banking and even medical consultations using e-health applications. 7KH UHSRUW VSHFLÀFDOO\ VD\V LQFUHDVLQJ access is not enough but to make EURDGEDQG DͿRUGDEOH DV ZHOO $V WKH UHSRUW puts it: “To increase Internet usage, entrylevel broadband services need to be made DͿRUGDEOH LQ GHYHORSLQJ FRXQWULHV ZLWK subscriptions costing less than two per cent of monthly gross national income (GNI) per capita. “ Broadband services in 2021 became less DͿRUGDEOH ODUJHO\ RZLQJ WR GRZQZDUG incomes in the midst of COVID-19 even though service charges continued to drop. Of the 193-member states, only 96 FRXQWULHV PHW WKH DͿRUGDELOLW\ WDUJHW RI two per cent of GNI for mobile broadband, down from 103 in 2020, while 64 countries PHW WKH WZR SHU FHQW WDUJHW IRU À[HG broadband, down from 62 in 2020. But the ITU worries stem essentially from the ability to make internet available for all by 2025 even though data show how Internet use surged during the pandemic, with user numbers rising from 54 per cent of the world’s population in 2019 to 66 per cent this year. The report says however that “Internet usage has now reached 93 per cent in highincome countries, 61 per cent in low- and middle-income countries, but just 36 per cent in least developed countries.” In high income countries, the rise in internet usage has not impacted positively on old people and those who are physically challenged. These category of people are still behind in connectivity. Bridging gender digital divide is top on the Broadband for all by 2025 as this report KDV LGHQWLÀHG VRPH JDSV EHWZHHQ PHQ DQG women with access saying gender equality in access to digital services is improving. $FFRUGLQJ WR WKH :RUOG Telecommunication/ICT Indicators Database, 69 per cent of men were using the Internet in 2022 compared to 64 per cent of women. Some regions and income groups have reached gender parity in Internet use, including developed countries and the $PHULFDV ZKLOH VPDOO LVODQG GHYHORSLQJ states (SIDS) and Europe have nearly reached the target.” Recommendations for improving high access by 2025 by the Broadband Commission include the creation of a more connected post-pandemic world with two essential pre-requisites. These are “a conducive regulatory environment for broadband services that will be crucial for countries to attract the vast investments needed to support a more digital world for everyone. “Secondly, strategies and policies must be adopted and implemented to enable broadband adoption and accelerate digital inclusion.” )RU WKHVH SUHUHTXLVLWHV WR EH IXOÀOOHG “will depend on impactful measures in areas like data protection, operational HPLVVLRQV DͿRUGDELOLW\ LQYHVWPHQW LQ networks, and remote learning, among other ways,” the report said. Aragba-Akpore is a member of THISDAY Editorial Board

22 4

T H I S D AY

WEDNESDAY NOVEMBER 30, 2022

EDITORIAL

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

THE AIR POLLUTION CASUALTIES Regulators should be alive to their responsibility

new report by a United States-based UHVHDUFK RUJDQLVDWLRQ +HDOWK (Ϳ HFWV Institute, has listed Nigeria among À YH FRXQWULHV LQ $IULFD WKDW DUH PRVW polluted. Others are Niger, Egypt, Mauritanian and Cameroun. According to the report, some 1.1 million people died prematurely RQ WKH FRQWLQHQW LQ DFFRXQWLQJ IRU RQH VL[WK RI WKH WRWDO JOREDO HVWLPDWH RI VHYHQ PLOOLRQ GHDWKV IURP air pollution-related diseases - the second largest risk DIWHU PDOQXWULWLRQ 0HDQZKLOH DQRWKHU UHSRUW E\ WKH London-based Clean Air Fund (CAF) states that the HFRQRPLF FRVWV RI DLU SROOXWLRQ LQ $IULFDQ FLWLHV ZLOO LQFUHDVH E\ RYHU WKH QH[W \HDUV H[FHSW urgent action is taken. A similar grim air quality assessment report was posted last year by Stakeholder Democracy Network (SDN), an international resource watchdog group. Against the background that many reports put Nigeria among countries with the worst air pollution in WKH ZRUOG ZLWK GHQVH FORXGV RI FKRNLQJ VRRW KDQJLQJ RYHU JULGORFNHG FLWLHV UHOHYDQW DXWKRULWLHV PXVW EHJLQ WR DFW &LWLHV PRVWO\ DͿ HFWHG DFFRUGLQJ WR WKHVH UHSRUWV are Port Harcourt, Aba, Onitsha, and Kaduna where SRRU DLU TXDOLW\ KDV UHDFKHG FULVLV OHYHOV RI SROOXWLRQ LQ UHFHQW \HDUV 7KHUH LV LUUHIXWDEOH HYLGHQFH RI FDXVH WR HͿ HFW FRQVLGHULQJ WKH ULVLQJ FDVHV RI DVWKPD OXQJ KHDUW DQG UHVSLUDWRU\ GLVHDVHV 5HVHDUFKHUV KDYH ]HURHG LQ RQ WKH EDG TXDOLW\ RI IXHO LPSRUWHG DQG XVHG LQ WKH FRXQWU\ DV ZHOO DV WKH HTXDOO\ EDG TXDOLW\ IXHO UHÀ QHG LOOHJDOO\ LQ WKH FUHHNV RI 3RUW +DUFRXUW DQG %D\HOVD ZKLFK IURP LQYHVWLJDWLRQ LV RI KLJKHU TXDOLW\ WKDQ WKH LPSRUWV 5HJDUGOHVV WKH XQVRSKLVWLFDWHG UHÀ QLQJ process adopted in the creeks sends up impurities into WKH DWPRVSKHUH DQG WKLV LV GULYHQ E\ VWURQJ VHD ZLQG to where it can do damage to unsuspecting residents. $FURVV WKH FRXQWU\ YHKLFOHV ZLWK XQDFFHSWDEOH HPLVVLRQ VWDQGDUGV FORJ WKH VWUHHWV RR]LQJ LPSXULWLHV

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There is irrefutable evidence of cause to eﬀect, considering the rising cases of asthma, lung, heart, and respiratory diseases

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

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

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 AS THE WORLD CUP RUMBLES ON The Qatar 2022 World Cup rumbles on and despite their beORYHG 6XSHU (DJOHV PLVVLQJ RXW RI WKH MDPERUHH 1LJHULDQV WDNH WKHLU SODFH EHIRUH WHOHYLVLRQ VFUHHQV WR ZDWFK WHDPV IURP RWKHU countries play and cheer them on. 7KHUH ZDV D WLPH ZKHQ WKH :RUOG &XS ZLWKRXW 1LJHULD $IUL FD·V PRVW SRSXORXV FRXQWU\ ZRXOG KDYH EHHQ XQWKLQNDEOH %XW these days, the unthinkable has become possible. :KHQ WKH 6XSHU (DJOHV RI 1LJHULD ZHUH SDLUHG DJDLQVW WKH %ODFN 6WDUV IRU WKH À QDO TXDOLI\LQJ URXQG IRU WKH :RUOG &XS PDQ\ 1LJHULDQV KDG EUHDWKHG D VLJK RI UHOLHI DW DYRLGLQJ PDQ\ RWKHU $IULFDQ WHDPV HVSHFLDOO\ IURP 1RUWK $IULFD ,Q GHÀ DQFH RI WKH PDQ\ VXUSULVHV WKDW IRRWEDOO UHPDLQV HPLQHQWO\ FDSDEOH RI VSULQJLQJ PDQ\ 1LJHULDQV KDG ORRNHG DW WKH GLVDVWURXV RXW ing posted by Ghana at the Nations Cup held earlier in the year DQG FRQYLQFHG WKHPVHOYHV WKDW WKH %ODFN 6WDUV ZRXOG EH HDVLO\ brushed aside. Recent history also sided with the Super Eagles DJDLQVW WKHLU VPDOOHU :HVW $IULFDQ QHLJKERUV :KHQ WKH À UVW OHJ LQ *KDQD VWRRG VFRUHOHVV DIWHU IXOO WLPH 1L JHULDQV ZHUH TXLHWO\ KRSHIXO WKDW WKH UHWXUQ OHJ LQ $EXMD ZRXOG VHH WKHP FOLQFK WKH WLFNHW 7KH PDWFK ZDV VFKHGXOHG IRU 0DUFK 29, 2022.

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*KDQD WKH DOO LPSRUWDQW DZD\ JRDO DQG OHDYH 1LJHULD ZLWK D mountain to climb. ,W SURYHG D EULGJH WRR IDU %HIRUH WKH H\HV RI PLOOLRQV RI 1L JHULDQV SDFNHG LQWR WKH QDWLRQDO VWDGLXP RU JOXHG WR WHOHYLVLRQ VFUHHQV WKH 6XSHU (DJOHV KXͿ HG DQG SXͿ HG EXW FRXOG RQO\ muster a 1-1 draw as their World Cup dreams petered out beIRUH WKHLU H\HV DIWHU DSSHDUDQFHV LQ DQG ,Q WKH ZDNH RI WKH DWWDFN RQ WKH WUDLQ MXVW D GD\ EHIRUH PDQ\ 1LJHULDQV FHOHEUDWHG WKH IDLOXUH RI WKH FRXQWU\ WR TXDOLI\ IRU WKH World Cup, albeit in protest. Now, with the tournament well and truly under way, many 1LJHULDQV KDYH EHHQ OHIW WR UXH D PLVVHG RSSRUWXQLW\ DV ZHOO DV ODPHQW WKH FRDFKLQJ FLUFXV LWVHOI HYLGHQFH RI D GHHSHU URW WKDW consumed Nigeria’s World Cup hopes, and continues to underPLQH 1LJHULDQ IRRWEDOO HYHQ WR WKLV GD\ The current clown in the circus is Jose Paseiro whose appointPHQW ZDV RQO\ FRQÀ UPHG DIWHU 1LJHULD IDLOHG WR TXDOLI\ IRU WKH :RUOG &XS EXW XQGHU ZKRVH ZDWFK WKH 6XSHU (DJOHV KDYH OLPSHG WR À YH LQH[FXVDEOH GHIHDWV LQ MXVW QLQH JDPHV Kene Obiezu, @kenobiezu

T H I S D AY ˾ WEDNESDAY, NOVEMBER 30, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

N O V E M B E R

S & P INDEX

2 9 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

7.64%

*AS AT LAST FRIDAY

3-MONTH

10.52%

MONTH-TO-DATE

0.44%

Banks’ Consumer Loans Up 31% to N2.55trn on Rising Inflation

Kayode Tokede On the back of rising inflation rate in Nigeria, banks’ consumer loans rose by 31 per cent or N615.82 billion in one month to N2.55trillion in July 2022 from N1.93trillion in June 2022, the Central Bank of Nigeria (CBN) economic report for the month of July 2022 has revealed. The CBN in the report stated that, “As a share of total claims on the private sector, consumer credit rose to 9.4 per cent, from 7.2 per cent at end-June. The increase in consumer credit

could be attributed to general rise in prices which impacts on households’ budget and spending behaviour.” The inflation rate opened in January 2022 at 15.6 per cent and increased to 19.64per cent in July 2022, according to the National Bureau of Statistics (NBS). Banks’ consumer loans in its Year-on-Year (YoY) performance has increased by 38.34 per cent or N706.45billion from N1.84trillion in July 2021 to N2.55trillion in July 2022 amid increasing inflation rate and hike in CBN’s Monetary Policy Rate (MPR).

The CBN had in a report disclosed that banks’ consumer loans grew by 0.17 per cent to N2.08trillion in January 2022, from N2.07trillion in December 2021, accounting for 8.7 per cent of total credit to the private sector. The report attributed the increase to growing confidence in the economy following gradual pick-up in economic activity as well as the various policies of the CBN, such as the loan-todeposit ratio (LDR) policy and the collateral registry. However, the report for the month of July 2022 stated that a

disaggregation of consumer credit shows personal loans stood at N1.93trillion billion, accounting for 75.7 per cent, while retail loans stood at N620.29 billion, and accounted for 24.3 per cent. Consequently, banks raised lending rates, and the average prime lending rate increased to 12.1 per cent in July from 11.68 per cent in January, while average maximum lending rate rose to 27.61 per cent in July from 27.65 per cent in January. A Tier-2 bank top executive who pleaded anonymity, explained to THISDAY that better margin hike

due to steady increase in inflation rate and economy diversification boost banks consumer loans. He noted that banks increased lending over better margins, stressing that consumers, salary earners and traders have increased borrowing from the banks. The CBN in its second quarter of 2022 (Q2 2022) report had revealed that consumer credit outstanding declined by 15.2 per cent to N1.9trillion at end-June 2022, from N2.28trillion at the end-March 2022. “The decline was partly due to decreased banking system

liquidity and the ripple effect of the increase in the Monetary Policy Rate (MPR) to 13 per cent by the Monetary Policy Committee (MPC) of the CBN in its May 2022 meeting. “The share of consumer credit in total private sector credit shrank by 2.1 percentage points to 7.2 per cent, from 9.4 per cent in the preceding quarter,” the report disclosed. According to the report, total credit by the CBN intervention in critical sectors of the economy Continued on page 26

Standardisation Key to Reaping AfCFTA Benefits, Says FG James Emejo and Kasim Sumaina in Abuja The Minister of State for Industry, Trade and Investment, Mrs. Maryam Katagum, has said that the role of the Standards Organisation of Nigeria (SON) remained critical in helping the country’s manufacturing sector to fully benefit from the implementation of the African Continental Free Trade Agreement (AfCFTA).

The minister said the assurance of adherence to internationally accepted standards, which the organisation upholds will eliminate technical barriers to trade making locally produced items more competitive globally. Speaking at the 50thanniversary celebration of SON in Abuja, Katagum said one of the goals of President Muhammadu Buhari’s administration was to ensure that the country takes advantage of emerging trade

opportunities across the world, adding that adherence to quality standards was however critical to achieving its objective. This came as the Director General of the standards agency, Mallam Farouk Salim, said its governing council had approved 213 new Nigerian industrial standards to boost economic growth, and promote fair trade among others. The minister particularly commended SON for the

positive role it has played in promoting the growth of the manufacturing sector and the economy at large, adding that its “activities especially through the MANCAP scheme have contributed immensely to the increased acceptability of Nigerian-made products in the international market achieved by this administration”. She further assured the organisation of the government’s continued support towards

achieving its primary mandate. The minister said, “In acknowledgment of its consistent implementation of reforms aimed at making its services more easily accessible to the public, SON has been ranked first in the Ease of Doing Business by the Presidential Enabling Business Environment Council (PEBEC). “In addition, the organisation recently received an Award from the National Information and Technology Development Agency

(NITDA) for Ease of Doing Business in the Information Technology Sector. These two recognitions are no doubt fitting anniversary gifts which will no doubt challenge the organisation to keep up its good work.” The minister said, “Fifty years is a long time in the life of an organisation in Nigeria especially given the fact that our existence as an independent country is Continued on page 26

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 5 , 2 0 2 2 BILLS

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

Yield

99.77

15.16

99.77

14.20

94.98

14.27

105.26

14.59

98.51

14.38

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

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

Discount

Yield

11.58

11.83

8.32

8.48

8.96

9.21

8.05

8.34

8.05

8.37

OTC F X F U T U R E S

CPS

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

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

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

Discount Yield

. .

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

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

WEDNESDAY NOVEMBER 30, 2022•T H I S D AY

WEDNESDAY NOVEMBER 30, 2022• T H I S D AY

WEDNESDAY, NOVEMBER 30, 2022 ˾ T H I S D AY

BUSINESSWORLD

INSURANCE

Improving Insurance Landscape with Technology Insurance is one of the sectors that leveraged on the challenges thrown up by the COVID-19 Pandemic to embrace technology. Ebere Nwoji reports that the sector now counts positive impact of technology adaptation.

hen the insurance sector operators, at the annual mega conference usually held at NICON Hilton Abuja centered the theme on market disruption through the use of modern technology, not many practitioners and stakeholders in the industry understood where the conference organisers were heading to. But at the end of the conference, discussants came to overall conclusion that if Nigeria insurance sector should achieve the projected trajectory growth, which has been a tall dream of the regulator, the National Insurance Commission (NAICOM) in particular and the industry operators, it needed to disrupt the existing business model which it has been using over the years and embrace a novelty model which is anchored on modern technology utilisation. This, they said, should cut across all activities in the business of insurance such as Q1 marketing, product design, distribution and service delivery model among others. The Commissioner for insurance, Mr Sunday Olorundare Thomas shortly after the COVID-19 pandemic, hyped on this assembling directors of insurance companies in Nigeria at a conference and addressing them on the need to adapt to new business model. He said, “The rapid changes brought about by the COVID-19 pandemic in many fronts have drastically opened doors of opportunities for many positive thinking minds and created serious setback for many who are not able to cope with the speed at which some of these changes appeared. An obvious example is the technological advancement in the insurance industry, which has been accelerated by the COVID-19 pandemic, compelling many of us to shift from the traditional ways of conducting business to more sophisticated and technology driven mechanisms”.

NAICOM’S DETERMINATION, OPERATORS MANDATE

The commissioner informed the insurance directors that it was for this same reason that the Commission

had successfully launched the NAICOM Portal on September, 1 2021; deployed to ensure effective and efficient interface between the Commission and its stakeholders. Thomas warned operators who might choose the position of laggards in this race for technological advancement in their operation saying, “It is imperative to inform you here that any company that is lagging behind in this regard is inadvertently phasing itself out of business. Your respective attitude towards information technology funding in your various companies will go a long way in determining the longevity and existence of not only the companies, but the retention of the brand names or corporate identities. This is food for thoughts”, the commissioner warned. Barely a year after, the commission at the end of the annual Professional forum organised by the Chartered Insurance Institute of Nigeria (CIIN) warned insurance companies operating in the country to go digital or find another sector to operate in. According to NAICOM, that was the way to go now to position the insurance sector for expected growth and efficiency. “We will not allow such companies to operate in the insurance sector anymore because we must adopt technology to enable optimal growth. “The Commission has also been working to boost access to insurance through effective deployment of technology, as the Commission’s portal has been launched and effectively deployed.” He said innovation would be the key to sustenance of the industry and make insurance services seamless by leveraging technology, which drives applications like Insurtech, FinTech, blockchain, data analytics, and IoTs, among others. At the recent annual media retreat organised by the commission in Lagos, Thomas x- rayed the positive impact made by this shift from old to new business model by the industry

operators and said the future of the insurance sector was in a shifting landscape. According to him, the landscape of Nigerian insurance sector has shifted and is still shifting. He informed the media that a lot have changed in insurance business environment and is still changing. According to him, one of the changes is the financial inclusion strategy and what it meant in insurance industry. According to him, in banking sector, financial inclusion takes place at the lower level of the pyramid but in insurance sector, it is not exactly like that. According to the commissioner, in insurance sector, only the middle class buy insurance, the lower level citizens feel they don’t have money to purchase insurance, the upper class feel they don’t need insurance while only the middle level citizens think it wise to protect what they have through insurance. He said this being the case; the Commission was using various initiatives to upscale insurance industry to global standard.

SCOPE OF TECHNOLOGICAL DISRUPTION

At the seminar, which has the theme: The Future of the Nigerian Insurance Sector in a Shifting Landscape, NAICOM’s Director Supervision Directorate, Barineka Thompson, said the disruption change going on in insurance was not just digital but also includes harsh market conditions, demanding customers, innovative new market entrants and regulations. He said these forces were transforming the insurance industry. “Where there is a change, there is an opportunity and all the sources of disruptions can be harnessed to become a source of growth for insurers. He said while no one could predict exactly what insurance might look like in a decade, insurers could take several steps now to prepare for change. He pointed out what he tagged five competitive forces of porter in the insurance industry to include suppliers and their bargaining power, new entrants

and product substitute, rivalry among existing competitors, buyers and their bargaining power as well as threats of product or service substitute. He also noted that in insurance landscape, there were international or external operators, National and internal operators and the regulator. He said in the same landscape there were innovation and growth, operators and competition as well as regulation. He said the core capabilities of insurance today lay on restructuring of bancassurance model, traditional broker and agents in person distribution faces, significant competitive pressures from digital channels in personal lines, distribution partnerships with banks and retailers through over-the- counter products which have become increasingly popular. He looked into the defining characteristics of the shifting landscape, saying new technologies were permeating throughout the insurance industry

CHARACTERISTICS OF SHIFTING LANDSCAPE

He highlighted the characteristics of the shifting landscape as emergence of digital native competitors many of which are non-insurance companies, more big data on customer activities, lifestyle and risk opportunities with which to analyse and help them better assess the actual risk level and likelihood of claims of insured. In summary, he said the insurance eco system was evolving rapidly and that insurers could no longer lean on old familiar ways while the prevailing technological and strategic winds shift around them. “As our often cloudy present opens up towards a brighter future, insurers should embrace technology across the customer journey if they hope to secure the trust and loyalty of tomorrow’s policy holders. Like many industries where digitilization has taken hold, technology should not be adopted for technology’s sake, simply upgrading to the latest technological trend is not enough to sustain a competitive edge. Factors such as distribution, claims, and operation proposition, risk and capital can drive insurers’ potential for future success as they consider digital strategies, ”Barineka said.

STANDARDISATION KEY TO REAPING AFCFTA BENEFITS, SAYS FG

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 Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)

only 12 years longer. “SON must, therefore, be one of the oldest government institutions in Nigeria. This anniversary is therefore undoubtedly a milestone worth celebrating. “In addition, the steady growth of the Organisation from its

humble beginnings to becoming the Apex Standards Body in Nigeria with constitutional responsibilities is also remarkable and worth celebrating.” Salim, however, added that the council had also approved 168 new standards for publication and dissemination

to various sectors of the nation’s economy. He said the move demonstrated its desire for a more effective standardisation process, and ongoing economic diversification policy of the present administration. Addressing the media as

part of activities to mark the 50th anniversary of the agency, Salim added that 213 new Nigerian industrial standards had also been approved to boost economic growth and promote fair trade among others. He said the federal government had introduced

the first ever Nigerian National Standardisation Strategy (NNSS) 2020 – 2022 as part of its economic diversification policy, stating that the strategy, which was developed by SON was designed to identify priority areas to focus on based on national needs assessment.

BANKS’ CONSUMER LOANS UP 31% TO N2.55TRN ON RISING INFLATION to spur growth increased by 2.5 per cent to N27.53trillion in July from N26.85trillion in June. The report stated that “A breakdown of total credit utilisation shows that, credit to the agricultural sector expanded by 3.8 per cent to N1,694.08 billion, from the level at end-June. “Similarly, credit to industry and services sectors grew by 2.7 per cent and 2.2 per cent, to N10,880.31 billion and N14,952.80 billion, respectively. “In terms of share in total credit, services and industry maintained dominance with

shares of 54.3 per cent and 39.5 per cent, respectively, while the share of agriculture stood at 6.2 per cent.” The report noted that the federal government spent a whopping sum of N2.26trillion to service debts in seven months of 2022. The CEO, Wyoming Capital & Partners, Mr. Tajudeen Olayinka had stated that the debt servicing by the federal government has encouraged investors to provide additional support to the government with respect to further investment in government securities.

According to him, “It presents government in good light, with the opportunity to fund developmental projects across the country. The negative aspect of debt servicing in Nigeria is the sustainability problem that has now greeted the current administration of President Muhammadu Buhari, whereby, more than 100per cent of revenue is now being expended on debt servicing, giving room for possible default and failure of government in no distant future, especially with respect to foreign debt component. “The fact that government

spends its entire revenue to service debts, despite introducing new taxes and raising rates in some others, is an indication that economic agents are not generating enough outputs, sufficient to put Nigeria’s economy in the positive territory. It is actually a sign of declining output. It is simply a failure of fiscal policy.” He hinted that the only way to cut the debt service figure down is for government to shift away from its current public sector dominance, and allow private sector businesses to occupy the driver’s seat, so as to consistently put the economy

in the positive territory. “Government should begin to consider removing subsidies in phases, in a manner that will not add more to the hardship on the ground. It also presents an opportunity to allow the economy to run a normal course of adjustment,” he added. According to the report, “Debt service obligations in 2022Q1, amounted to N897.17 billion, compared with N428.60 billion in 2021Q4. The rise was attributed to the principal repayments and redemption of matured debt obligations.”

T H I S D AY ˾ WEDNESDAY, NOVEMBER 30, 2022

BUSINESSWORLD

PERSPECTIVE

Sustainable Development and More Socially Relevant Marketing Profession Olu Akanmu

hat is sustainable development? And what would be sustainable economic development? Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs. This is the definition according to the International Institute of Sustainable Development. And what is sustainability itself? Sustainability can be defined on four pillars- Human, Social, Economic and Environmental. We will use the definitions of Futurelean.com Human sustainability is the maintenance and improvement of human capital in society. Investments in the health and education systems, access to services, nutrition, knowledge and skills . Social sustainability is the preservation for future generations, our acknowledgemet that we have an impact on others and on the world with regards to the quality of our society, our country or communities and overall social cohesion. While Society will never be equal, that is utopian. We can all however agree that extreme inequalities and extreme deprivations and want side by side extreme wealth and opulence is not good for social cohesion. Economic sustainability can be defined as economic growth that comes with improved standards of living that everyone can feel. Essentially inclusive economic growth. Whereas the Nigeria economy is growing at 3% a year, most people cant feel it. Even in the good old days of 7% growth in GDP, the challenge still was how to ensure that economic growth is inclusive and that our people can feel the impact on the quality of their lives. The last pillar of sustainability is the environment. Essentially the preservation of our natural capital for next generation. So to keep it simple, sustainable economic development is inclusive economic growth and development that everyone can feel from the rivers of Brass to savannah of Birnin Kebbi and from the whitesands at the Beach of Badagry to the farmlands of Biu. Does Marketing have a role to play in this? And what should be this role? Lets go back to the basics and look at the definitions of Marketing to properly situate our discourse. The American Marketing Association (AMA) defines Marketing as “…… as the activity, set of institutions, and processes for

creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. …” Watch and pay attention to the key words of customers, clients, partners and society. The scholars of the AMA in their wisdom deliberately introduced the word society into Marketing definition. However it does seem that the only words that most marketers hear are customers, clients and partners. Most marketers in this hall tonight including those who are not at this event, and I belief I guess right , are not likely to have “society” as top of their mind when they discuss or define Marketing. Why is the situation like this? The problem could be located in the more popular definition of marketing that we have learnt and passed on across different marketing generations. The more classic definition of Marketing from Philip Kotler says Marketing is “The science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. The problem with the Philip Kotler’s definition of Marketing, with which we were all brought up, is that it implies that where there is no profit, there is essentially no ‘worthy’ market. The extrapolation of this would be in how we also define addressable market in business plans based on those who need and those who can afford to pay for the products / services that we sell. The big problem is that this Kotler’s traditional definition of marketing has very serious implications for social relevance of marketing in Nigeria and the developing world where there is endemic poverty and large problems of social exclusion. Come with me.. I told you earlier that I want to prick your conscience tonight. I have not come to earn your clapping. About two weeks ago, the National Bureau of Statistics released a striking and concerning report on the Nigeria poverty index. That poverty in Nigeria is actually worse than we thought, than even what the World Bank estimated. The National Bureau of Statistics report says that there are 133 million multi-dimensionally poor people in Nigeria. Cry the beloved country. That 84 per cent of children under five years in Nigeria were poor due to lack of intellectual

stimulation needed for childhood development. Cry the beloved country. That 65 per cent of poor people – 86 million people – live in the North, while 35 per cent – nearly 47 million – live in the South. Cry the beloved country. That Bayelsa, an oil producing state has 89% of its people poor, second only to Sokoto with 91% of its people poor. Cry the beloved country. That poverty is prevalent in Nigeria urban areas with 42% of urban poor as well as rural areas with 72% of rural poor. Cry the beloved country. With a Nigerian population of 211million and 133 million of which are poor, 63% of our people are poor and are probably not being served by our commercial markets who will find them unprofitable. From our classic Kotler s definition of Marketing, a population segment that cannot be served at profit is not a worthy market. Essentially, we can conclude that our high rate of social exclusion in Nigeria also translates to high rate of commercial exclusion. That our businesses and our marketers are only serving and relevant to just about 40% of the Nigerian population or at best 50% . That as we celebrate ourselves tonight with various awards, we are not relevant to lives of 50% of our people. We see this in banking where formal financial inclusion is just about 50% and in internet and broadband penetration at around 40%. Telecom voice penetration is an exception to the rule. Telecom voice business shows the power of technology, especially digital technology in unlocking excluded markets with low transaction and distribution costs that could make traditional population segments that were thought previously unprofitable profitable. Lets go back to marketing definitions again briefly before we conclude. Can we truly say we are doing responsible marketing in a country like Nigeria if most of us despite our awards tonight are not relevant to 50% of the Nigerian population? America does not have this large profound exclusion problem, (at least not like our context), hence Kotler could have defined marketing with implications that only markets that could be served at a profit are worthy. For marketers in developing countries, Africa and in Nigeria where 50% of our population are socially

excluded, we need to responsibly find innovative ways to solve our large social and commercial exclusion, unlock the potentials of these excluded markets with innovative service and business models that could make them profitable. By so doing, we will double the size of our addressable markets, become more socially relevant while creating inclusive prosperity for all. It was late Clayton Christensen, Professor of Strategy, from outside Marketing that solved and thought us how to solve the problem of the potential social irrelevance of marketing in developing countries through the concept of excluded markets ( a paradox) and the theory of disruptive innovation. There is no time to discuss Christensen’s theories extensively tonight. Suffice it to say that Christensen’s theory has a lot of relevance to making marketing more socially relevant in developing countries. I enjoin you in case you have not, to get a copy of Christensen’s Innovator’s Dilemma, and read it with reflections. It is a nice relevant complement to traditional marketing knowledge today. In conclusion, congratulations again to the nominees and awardees on this occasion tonight and to those of us who have come to celebrate with them. As you receive your awards tonight, ask and reflect on how your products and services could be more relevant to perhaps 50% of Nigerians that you are probably not serving. That is the responsible thing to do, to make our marketing and businesses more relevant to the people of Nigeria, to practice more inclusive marketing. Lets evolve new socially responsible lingo. In financial services, we talk of financial inclusion. Lets also have milk inclusion for those of us in milk business, lets have detergent inclusion for those of us in detergent business and health inclusion for those of us in health services business. Lets measure these metrics periodically, their growth or stagnation to prick our conscience about how much we still need to do to make our businesses impact on the lives of our people. So that when the history of our generation is written, it shall be said of us, that we as business leaders rose to the occasion and to the challenge of our time in history and made the responsible difference. t 0MV "LBONV HBWF UIJT LFZOPUF TQFFDI BU UIF "EWFSUJTFST "TTPDJBUJPO PG /JHFSJB T "GSJDB .BSLFUJOH "XBSET

Enhancing Access to Credit Nume Ekeghe writes on the impact of the National Collateral Registry on increasing access to credit

igeria is looking at achieving 90 per cent financial inclusion by 2024, although access to credit is still on the low side. Achieving financial inclusion is beyond increasing the number of individuals with bank accounts in the country. Ease of access to credit is also a critical aspect of increasing financial inclusion. Asides from playing a critical role in financial inclusion, ease of access to credit is also a major ingredient for the growth of any economy. However, the Nigerian financial space is still grappling with meeting the demands of consumer and small loans. With over 40 million Micro Small and Medium enterprises (MSMEs) operating within the Nigerian economy, only a few of them are able to access credit from the formal financial institutions.

LACK OF ACCESS TO CREDIT

This has made many to resort to loan sharks who charge exorbitant and almost impossible interest rates. While lack of proper documentation is one of the reasons MSMEs are unable to access credit from traditional financial institutions, for many of them, lack of collateral is a major stumbling block. Commercial banks in the country in an effort to have a guarantee that the loan will be repaid or that they will have something to fall back on if there is a default, require that loans be backed by collateral. Many of these financial institutions ask for landed properties and fixed assets as collateral, but even for those with such, proper land titles are hard to come by. Johnson, an entrepreneur said his bank had asked for title to his landed property when he tried to access a facility to expand his business. “It was a difficult decision for me to take a loan, but because I wanted to expand and I saw opportunities. If the land I owned at Ifo in Ogun state had proper titles, I would have

been able to access the loan. “I missed out on a great opportunity to expand my business because I couldn’t get anyone to lend me the money and even my bank could not come through for me,” he lamented. A survey had shown that only 31 per cent of MSMEs in Nigeria currently have a loan with a bank or a microfinance institution, and that personal savings and business income are the most important sources of capital for financing businesses. At the same time, 82 per cent of financial institutions surveyed said inadequate collateral is the most common challenge in granting loans.

CBN/IFC COLLABORATE TO BOOST CREDIT

This was one of the reasons the Central Bank of Nigeria (CBN) in collaboration with International Finance Corporation (IFC), a World Bank group subsidiary, expressed readiness to address the challenges around access to finance by MSMEs in the country. The collaboration, which brought forth the Nigeria Collateral Registry (NCR) in 2016 was part of a resolve to further deepen credit delivery to MSMEs and also reduce the challenges of collateral as a requirement for loans to MSMEs. The NRC is a notice-based registry for collaterals and an online centralized, publicly available data that allows financial service providers to register security interests in movable assets after accepting such collateral for loan. These movable assets can range from inventory to jewelry, to equipment and even vehicles. In May 2016, the Central Bank of Nigeria launched a modern online collateral registry with the support of the World Bank Group. The registry will allow low-income people and small-scale entrepreneurs to secure loans

against movable assets such as machinery, livestock, and inventory. The NCR provides a platform where all collateral, moveable and immovable collateral can be registered, thereby removing the risks of some bank customers using the same collateral to access facilities in more than one bank. The partnership with the Central Bank of Nigeria and funded by the UK’s Department for International Development (DFID). The registry also facilitates access to g credit secured with moveable property creating and perfecting security interests and realizing security interests in movables. It is also aimed at providing for the establishment and operation of the collateral register and stimulate responsible lending to micro, small and medium enterprises by providing an efficient mechanism for registration of the security interests in moveable assets and realization of such interests in the event of a default.

BOOSTING ACCESS TO CREDIT

Registrar of the NCR, Mr. Bulus Musa whilst speaking at a town hall meeting on the sensitisation of the use of Secured Transactions in Movable Assets (STMA) Act 2017, which was organized by the Development Finance Department of the CBN, had noted that six years after its launch in 2016, the registry has gained recognition and impact and has contributed to increasing access to credit. Bulus noted that since 2016, about 752,000 Nigerians have registered on its portal and over N16.6 trillion in credit has been collateralized through the registry. “We have captured about 752,000 and credit that has been granted or collateralized currently stands at N16.6 trillion on the

NCR portal. We want to use the movable assets as collateral for granting credit. What the small-scale industries need to do is go to their bank, tell their bank that I do not have landed properties but I have a motorcycle, vehicle, jewelry, an account receivable from a reputable company, inventory and discuss with them, they will register these documents on the NCR and when it is registered on the NCR, it gives that bank the priority over these assets and they give you the amount you need for credit but you know payment is still with you”, he said. Musa whilst urging SMEs to approach their banks in order to benefit from the scheme, said they should notify their banks that they did not have landed properties but had other properties such as vehicles, jewelries and an account with a reputable company, including inventory. “They will register all these documents on the National Collateral Registry, and when it is registered on NCR, it gives that bank the priority over these assets and they give you the amount you need. But payment is still with you.” he stated. Operation of the NCR means the vulnerable and micro businesses as well as aspiring entrepreneurs can now have unhindered access to finance. To access credit the NCR ensures that inventory, account receivables can be collateralized, intellectual property, paintings, copyright trademark all of which are classified as movable assets. Availability of the collateral registry also means that women who are mostly disenfranchised in ownership of fixed assets such as landed properties can now have ease of access to credit. This is evident in data from the NCR, which shows that nearly 25 per cent of debtors on the NCR are women. Apart from opening up access to credit for the vulnerable, the NCR also helps to de-risk the system and stimulate growth of the economy.

WEDNESDAY, NOVEMBER 30, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

SMEDAN Floats Single-digit Funding for Small Businesses James Emejo in Abuja

L – R: President/CEO, The PEARL Awards Nigeria and Chairman, CITC Group, Mr. Tayo Orekoya; Group Chairman, Nigerian Exchange Group Plc, Dr. Umaru Kwaranga; Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu; Chief Executive Oﬃcer, Nigerian Exchange Limited (NGX), Mr. Temi Popoola and President, Association for Advancement of Right of Nigerian Shareholders and Board Member, NGX, Faruk Umar during the 2022 PEARL Awards in Lagos… recently

Igbiti: Insurance Industry Most Resilient, Fast Expanding Sector in Nigeria Ebere Nwoji The Chairman, Insurance Industry Consultative Council (IICC), Mr. Edwin Igbiti, has said that insurance industry is one of the most resilient and fast expanding sectors in Nigeria. Igbiti made the disclosure in his welcome address at the 2022 IICC Media Retreat with the theme, “Media as Catalyst for Insurance Inclusion,” organised for the members of the Nigerian Association of Insurance and Pension Editors (NAIPE) in Ijebu Ode, Ogun State. According to him, “You will agree with me that there has been growth

in the industry despite the numerous economic recessions, the effects of the COVID-19 and the #ENDSARS protests which resulted into millions of claims. The insurance industry has stood as one of the most resilient and fast expanding sectors in the nation’s economy.” While emphasising the importance of the IICC collaboration with members of media and the rationale behind the IICC Media Retreat, Igbiti said, “The crucial position the media plays in the economy and society at large cannot be over emphasized. Indeed, the media poses as a veritable authority for agenda

setting, public education, sensitization and awareness creation. “We are partners and we urge you all to use your reputable platforms to consistently announce the gospel of insurance and its benefits to the public so that we can attain the desired penetration rate in Nigeria. When the industry is booming from our efforts, it will also be a common joy and gain for us all. Hence, the onus is on all of us, everyone in this room and our networks beyond it to ensure that the insurance industry attains its pride of place in the economic ecosystem.”

While commending NAIPE members for their support, the IICC Chairman who is also the President/Chairman in Council, Chartered Insurance Institute of Nigeria (CIIN) said, “I would like to use this opportunity to express our profound appreciation to the media for its inestimable support over the years especially, you the insurance industry journalists who have constantly employed your expertise and in-depth knowledge about the industry to objectively report the trends and opportunities as well as enlighten the public about the values of insurance.”

Hughes: Clarity on Macroeconomic Variables Will Attract Foreign Investments James Emejo in Abuja The Chief Investment Officer at Honeywell Group Limited (HGL), Mr. Otu Hughes, has said that the government’s ability to provide some clarity on key macroeconomic indices will not only help investors make positive decisions but also attract foreign investments into the country. He said providing clarity on the foreign exchange regime and inflation as well as tackling the present security challenges would go a long way to boosting investor

confidence in the Nigerian economy. Speaking in an interview with THISDAY at the recently concluded 28th Nigerian Economic Summit, Hughes noted that Nigeria has a lot of great potential, particularly its huge population, culture, and entrepreneurial youths -all of which he said, make the country more attractive to the global community. But, he said, “Investors from the outside are looking for clarity for some of those things to make it clearer for them to be able to invest.

“Those of us who are indigenous don’t have that option in terms of waiting for clarity but we have to keep on investing because this is our home and this is where we are, and so we have to keep on investing. “However, we also want the clarity to make it easier to invest more but we have to find ways to be creative to invest and to grow our country.” He also said addressing forex availability was also important to reassure prospective investors.

He said, “if you look at the rate at the I&E Window for example it is the issue of availability. The challenge is that if you bring the money in from those who are offshore today, getting it out is not that easy at a reasonable rate. “So, the challenge for anybody sitting outside is how to think through that and it is not easy. If you can’t answer those questions easily - if you’re outside and trying to bring your money in and you can’t answer those questions confidently to your supervisors, it is difficult.”

Cancer Society Berates MAN over Opposition to Sugar Tax James Emejo in Abuja The Nigerian Cancer Society (NCS) has carpeted the Manufacturers Association of Nigeria (MAN) over the latter’s comments that the N10 per liter excise tax, which was recently enacted through the 2021 Finance Act, will “kill” the beverage sector. The NCS said the manufacturers’ claim that the Sweetened Sugar Beverage (SSB) tax had resulted in economic losses to the industry was unfounded. The former President of MAN, Mr. Mansur Ahmed,

had claimed that the excise tax was “already having devastating effects” on consumers. But, the NCS President/ Co-chair, National Action for Sugar Reduction Coalition (NASR), Dr. Adamu Alhassan Umar, in a statement, argued that there’s no evidence that the beverage tax has had any such effects on the industry. Rather, he said, the N10 per liter tax was really not sufficient to reduce consumption and minimise the sugar-induced health challenges. The NASR coalition also maintained that the current SSB tax rate must be raised in

line with the good intentions of the federal government in order to achieve a significant impact on consumption patterns and, ultimately, a decline in Non-Communicable Diseases (NCDs). Umar said sugar-sweetened beverages are loaded with refined sugars and contained “very little or no nutritional value. Consuming them raises the risk of chronic illnesses like type 2 diabetes, high blood pressure and stroke, and even cancers. “These diseases are very expensive to treat, with humongous financial costs

that weigh most heavily on low-income families. “The SSB tax is designed to reduce consumption of these harmful products and ultimately prevent non¬communicable diseases. Increasing SSB taxes will improve the health impact of taxation.” He said Nigeria is in need of more policies that protect public health and raise revenue for healthcare, adding that the SSB taxes can improve health by leading consumers to buy less and lowering the risk of non¬communicable diseases.

The Director General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Olawale Fasanya, has disclosed that a matching fund programme for agrobased Nano, Micro and Small Enterprises (NMSEs) has been launched. He said the intervention was aimed at delivering credit to the sub-sector in six selected states including Anambra, Bayelsa, Delta, Ebonyi, Ekiti, and Osun. Fasanya explained that the initiative was in partnership with Sterling Bank Plc to boost financing for small businesses. In a statement he added that the programme is a promotional mechanism to enhance enterprise output, competitiveness and job creation with the bank as the disbursing entity, The SMEDAN boss also said the intervention is largely targeted at MSMEs operating

in the real sector with valueadded agricultural products. He explained that prospective beneficiaries may apply for financing within the range of N500,000 and N2.5 million. Fasanya said, “The interest rate applicable on all financing under this programme shall not exceed single digit per annum. The financing tenor is for a maximum period of 30 months effective from the date of the first disbursement. “This is inclusive of the moratorium which may vary between three to six months depending on the type of enterprise”. He also said applicants or enterprises wishing to apply must be within the agribusiness value chain. He said, “The applicant/ enterprise must have a Corporate Affairs Commission (CAC) registration or stateapproved registration and a movable asset to be registered under the National Collateral Registry (NCR).”

Great Nigeria Insurance Recovers from Loss, Posts N1bn Profit Ebere Nwoji Great Nigeria Insurance Plc said it grew its gross premium by 16.9 percent from N7.1 billion in2020 to N8.3 in 2021. The company also recovered from a loss position of N7.7 million to profit before task of N1billion. Managing Director/CEO of the company, Mrs. Cecilia O. Osipitan attributed the positive performance to the commitment shown by every member of staff of the company. She said the turnaround initiative coupled with the fact that the management team of the company was dedicated to ensuring that the shareholders got a good return on their investment helped to achieve the result. She further reiterated the company’s unwavering commitment to creating value for both shareholders and stakeholders alike. “The path to achieving growth and sustaining same is not without its challenges, but with the perseverance and doggedness

of every member of staff, we were able to overcome and succeed as a team”, she said. According to her, due to COVID-19 protocols, the company convened a hybrid 51 virtual Annual General Meeting of virtual and physical participants at the Westwood Hotel, Awolowo Road, Ikoyi, Lagos. Some of the shareholders attested to the fact that the company has shown tenacity and resilience by preserving its legacy and remaining relevant in the Nigerian insurance industry. Also speaking, the Company’s Spokesperson and Manager, Corporate Communications, Brand Management and Customer Service, Ms. Oyinkansola Sobande stated that the company, no doubt has every reason to appreciate all its shareholders for their unwavering faith in the Board and Management of the underwriting company and that the state of affairs would continually improve despite the challenges posed by the economic terrain.

AXA Mansard Insurance Records 19% Growth in GWP Ebere Nwoji AXA Mansard Insurance Plc, a member of the AXA Group has recorded 19 per cent growth in Gross Written Premium in the financial results for the third quarter ended September 30, 2022. Speaking on the result, the Chief Financial Officer of the company, Mrs. Ngozi Ola-Israel said, “2022 has been a challenging and dynamic year for the business occasioned by heightened levels of inflation and the consequent impact on businesses and households. She said despite these challenges, the underwriting firm was able to deliver double-digit revenue growth of 19 per cent YoY from N48.8bn to N57.9 billion and 19 per cent YoY net premium income growth from 27.1 billion to 34.7 billion at the end of the third quarter of the year. “We advanced with our focus

on profitability also with profits before tax for the insurance business growing by 6 percent YoY while the Health business commenced recovery in the 3rd quarter and is positioned to record profits for the full year”. She said the firm’s investment incomes provided strong support for the group performance as well, growing 29 per cent YoY. Also commenting on the result, the Chief Executive Officer of AXA Mansard Insurance Kunle Ahmed said “Despite the challenges within the business operating environment, the company’s performance reaffirms its resilience and strategy for long-term growth and sustainable strong performance with a focus on identifying new growth areas in our markets, strengthening our partnerships, and refining our distribution strategy as we grew revenues by 19 percent.

WEDNESDAY NOVEMBER 30, 2022 • T H I S D AY

T H I S D AY ˾ ͱͮ˜ ͰͮͰͰ

CITYSTRINGS

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Spotlight on Role of Farmers in Food Security The annual Lagos Farm Fair was recently held to commemorate the 2022 World Food Day. Uzoma Mba reports that it was also an opportunity to emphasise efforts by the state government to boost local food production by 40 per cent

L-R: Senior Special Assistant on Agriculture, Lagos State, Mr. Gbolabo Olaniwun; Director, British American Tobacco Nigerian (BATN) Foundation, Odiri Erewa-Meggison; Secretary to the Lagos State Government, Mrs Sherifat Folashade Jaji; and Lagos State Commissioner for Agric, Ms. Abisola Olusanya; during the 2022 Lagos Farm Fair held, in commemoration of the World Food Day, at the Police College Ground, in Lagos, on Thursday, October 16, 2022

Farmers parading with their catch

Farmers parade

L-R: Lagos State Commissioner for Agriculture, Ms. Abisola Olusanya; Director, British American Tobacco Nigerian (BATN) Foundation, Odiri Erewa-Meggison; Secretary to the State Government, Mrs Sherifat Folashade Jaji; and Special Adviser on Agriculture Lagos State, Dr. Oluwarotimi Fashola, during the Lagos Farm Fair in commemoration of World Food Day in Lagos, on October 16, 2022

fter a two-year hiatus occasioned by the covid-19 pandemic, the annual Lagos Farm Fair which is held in commemoration of World Food Day bounced back to life on Sunday, October 16, 2022 at the Police College Ground, Ikeja, Lagos. The World Food Day was designated by the Food and Agricultural Organisation (FAO) in 1979 to promote local awareness and action for those suffering from hunger and ensure a healthy diet for all. Globally, this year’s commemoration, themed ‘Leave No One Behind’ raises further concerns about food security in view of multiple global challenges, including the COVID-19 pandemic, conflict, climate change, rising prices and international tensions as noted by the FAO. In Nigeria, the situation is further compounded by the recent flooding in some parts of the country that has resulted in the destruction of thousands of hectares of farmlands in addition to loss of hundreds of lives. About 150,000 hectares belonging to farmers mostly in Bauchi, Damaturu, Dutse, Gombe, Maiduguri and Yola are said to have been ravaged by the flooding and the losses estimated at about N30 billion. Already the International Monetary Fund (IMF) has issued a warning that the recent flooding incidents in some states in Nigeria would aggravate food insecurity and further increase in food prices nationwide. The above sentiments reverberated during the just-concluded Lagos Farm Fair organized by the Lagos State government and sponsored by the British American Tobacco Nigeria Foundation (BATNF) in partnership with the Stanbic IBTC Bank. The occasion was the grand finale of the weeklong activities, which earlier featured a press briefing on October 5 and a sensitisation walk for the World Food Day and fitness on October 6.

In attendance at the fair were top government functionaries in the Lagos State Ministry of Agriculture, representatives of government agencies, agricultural institutes, agricultural cooperative societies and associations, food manufacturing and processing companies, and local government agricultural associations, among others. Giving a keynote address at the occasion, the Lagos State governor, Mr Babajide Sanwoolu, pledged the state government’s determination to increase local food production from the present 20 percent demand to 40 percent, through the implementation of various programmes and initiatives, in a bid to eradicate hunger, poverty and achieving the sustainable development goals (SDGs) relating to agriculture. Mr Sanwo Olu, who was represented by the Secretary to the State Government, Mrs Folashade Jaji, said: "The 2022 World Food Day campaign calls for global solidarity and action to restructure agrifood systems in order to create inclusive economic growth, alleviate inequality, boost resilience, and achieve sustainable development. This must be met for us to have a certain and healthy tomorrow. It is

worthy to state that Lagos State is committed to eradicating hunger, and poverty and achieving the SDGs relating to agriculture. We have implemented numerous projects/programmes to tackle hunger, malnutrition, unemployment, and under-employment and also boost food production and supply systems, which is in line with the Lagos State Agricultural and Food System Roadmap (2021-2025).” The State’s agricultural initiatives include Lagos State Food Market System Transformation Programme, Agricultural Value Chains Enterprise Activation Programme, and Eko Agro Mechanization Programme. In an address, the Board Director, British American Tobacco Nigerian (BATN) Foundation, Odiri Erewa-Meggison, acknowledged the important role farmers play in ensuring food security, in spite of the myriad of challenges confronting them, while expressing BATN Foundation’s commitment to supporting them. “Farmers are pivotal to our daily lives. They contribute immensely to every aspect of our lives. As a nation blessed with arable farmland, fertile and suitable to grow food, and a rich human capital resource, we believe Nigeria can comfortably be the largest producer and exporter of farm produce in Africa and indeed the world. “BATN Foundation is committed to improving the lives the livelihood of local farmers and sustainable development. Over the last 20 years,

Farmers are pivotal to our daily lives. They contribute immensely to every aspect of our lives. As a nation blessed with arable farmland, fertile and suitable to grow food, and a rich human capital resource, we believe Nigeria can comfortably be the largest producer and exporter of farm produce in Africa and indeed the world

the Foundation has worked assiduously with various players in the agricultural sector from research institutions, input dealers, processors and off-takers to develop initiatives that drive the most impact on the farmers. The Lagos Farm Fair is one of them.” Speaking further Odiri said that the Foundation has invested over 2 billion naira and reached over 1.3 million beneficiaries in sustainable agricultural initiatives, providing financial support to rural farmers to cultivate food crops, and linking them also with processors and off-takers. Earlier in a welcome address, the Lagos State Commissioner for Agriculture, Ms Abisola Olusanya, said that the administration has since inception embarked on programmes and reforms aimed at ensuring food security for the State, noting that there are also policies intended to make the space profitable for stakeholders in various value chains that have been implemented. She sought further assistance to farmers from the state government. Other exciting activities took place during the weeklong commemoration of the 2022 World Food Day such as the Lagos farmers forum and a quiz competition among secondary schools. Gbaja Boys Senior High School, Surulere emerged victorious in the school quiz competition while Agidingbi Senior Grammar School finished in second place; and Onitolo Community Senior High School came third. There was also a Public Speaking competition organized under the auspices of Lagos Agric Scholars Programme (LASP) and Hunpe Klistiwedo, a student from Senior Model College, Kankon came first. He was decorated as the Agric Ambassador for the year 2022 to 2023. Most significantly, the Lagos Farm Fair served as a day where farmers and other stakeholders in the various agriculture value chains were honoured and celebrated by the Lagos State government and private sectors for braving the odds in ensuring the availability of food in the state and country at large.

WEDNESDAY NOVEMBER 30, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY, NOVEMBER 30, 2022

BUSINESS/MONEYGUIDE

NADDC Urges CBN to Set Up Special Fund for Automotive Sector James Emejo ÓØ ÌßÔË

The Director General, National Automotive Design and Development Council (NADDC), Mr. Jelani Aliyu, has said the council is currently in talks with the Central Bank of Nigeria (CBN) for the setting up of a special intervention fund for the automotive industry. Jelani said the funding support was particularly necessary to consolidate the positive progress recorded in recent times in the industry. Specifically, he said such intervention by the apex bank would help to put in place

a vehicle financing scheme that would enable Nigerians to purchase locally manufactured vehicles without paying the full price at once. In an interactive session with journalists in Abuja, the NADDC boss said in other parts of the world, new vehicles are purchased under a financing arrangement that helps the buyer to make payments in installments, thereby boosting patronage which will in turn make the industry more viable. He said part of the discussions centered on achieving single-digit financing for vehicle purchases while the

payment is spread over about five years. Aliyu said some banks had already agreed to the terms and conditions for the proposed financial plan which could be a game-changer in the industry that is struggling for local patronage amidst improvement in production capacity. He said, “On vehicle financing, we are in talks with banks. We are negotiating terms that will be very conducive for people; single-digit interest rate and we are talking about no more than 10 per cent and being able to pay over at least five years and more.

Presco Wins 2022 Agriculture Sectoral Leader Award Presco Plc has emerged winner of sectoral leadership award in Agriculture at the 2022 PEARL Awards held in Lagos. The category had Livestock Feeds Plc and Okomu Oil Palm Plc, but, Presco Plc was adjudged winner by the Board of Governor of PEARL Awards now in its 25th edition. At the colourful ceremony held at Eko Hotels, Presco Plc was also nominated in the Highest Return On Equity Award and Overall Highest Award categories. Other nominees in the Highest Return On Equity Award category were MTN Nigeria Communications Plc and Nestle Nigeria Plc, the winner, while the Overall Highest Award category had Learn Africa Plc and Total

Energies Marketing Nigeria Plc, the winner. In an interview on the sideline of the awards ceremony, Chief Operating Officer, Presco Plc, Ray Gerald commended staff and all stakeholders for their contributions to the growth of the company. He assured shareholders and other stakeholders of sustained growth, adding ’We will continue to do what id good“. For the year ended December, 2021, Presco Plc rewarded shareholders with a total dividend of N7.5 billion The dividend translated to N7.50 per share, an increase of 380 per cent, when compared with amount paid in 2020. The company had declared a final dividend of N6.6 billion

having paid an interim dividend of N1 billion to the shareholders. Going down memory lane earlier, President/Chief Executive Officer, PEARL Awards Nigeria, Tayo Orekoya said PEARL Awards Nigeria has inception recognized and rewarded over 90 quoted companies and other capital market stakeholder institution in Nigeria for outstanding operational stock performance with twenty-one emerging as the overall awards winners of the stock market at different times. He said: “The PEARL Awards remain fulfilled that our impartiality, fairness and transparency have continued to endear us to major stakeholders in the capital market. We would continue to uphold and be guided by these principles.”

IBB Bags Fellowship of Stockbrokers’ Institute Former Military Head of State, General Ibrahim Babangida has been awarded honourary Fellowship of Chartered Institute of Stockbrokers (CIS) for his exceptional contributions to the growth and development of the Institute from its formative years in continuation of phase two of the Institute’s 30th Anniversary celebration which kicked off early November this year. Babangida, who ruled Nigeria from 1985 to 1993, was credited with the promulgation of the Decree that granted Chartered status to the Institute in 1992, which later became an Act. Besides, Babangida’s administration was instrumental to some radical economic policies that transformed the Nigerian financial system. Conferring the prestigious award on him at his country home, Minna, Niger State, yesterday, the Institute’s President,

Mr Oluwole Adeosun, explained that Babangida’s administration midwifed the setting up of the Technical Committee on Privatization and Commercialization (TCPC) of Enterprises in Nigeria, which transformed into Bureau of Public Enterprises (BPE). “Today, we have come have come all the way here to Mimma as a mark of recognition and exceptional respect that the Institute has for her 6th investee. General Ibrahim Badamasi Babangida, is one of the most eminently qualified persons to be admitted as a Fellow of the Chartered Institute of Stockbrokers. Apart from the obvious fact that he was President and Commander in Chief of the Armed Forces of the Federal Republic of Nigeria between 1985 - 1993, the following milestones of his administration stand him out for this honour: “Under his administration,

the Structural Adjustment Programme (SAP) was initiated in 1986 and this economic policy brought radical transformation to the Nigerian financial industry. His administration promulgated the Decree that established the Technical Committee on Privatisation and Commercialisation (TCPC), now Bureau of Public Enterprises (BPE) in order to ensure transparency, credibility and widespread ownership of shares of the privatized enterprises The shares were divested through The Nigerian Stock Exchange (now NGX), thus enabled more Nigerian citizens to become shareholders of companies in commanding heights of the economy, ”said elated Adeosun. Babangida expressed his heartfelt gratitude to the Institute’s Governing Council and Management for this historic honour and assured them of his support at all times.

NLTF Revitalises Over 40 Healthcare Facilities in Two Year The federal government has stated that the National Lottery Trust Fund (NLTF), has revitalised more than 40 healthcare facilities across Nigeria’s six geo-political zones within 2 years. Minister of Special Duties and Intergovernmental Affairs, Sen. George Akume stated this during the official inauguration and hand-over of vital medical equipment to the General Hospital, Igbora, Oyo State. Akume, who expressed satisfaction over the remarkable progress made by the NLTF, said that the agency had done very well in the implementation

of intervention programmes in health and other key developmental sectors. “The Federal Government is impressed with the agency’s resolve to deliver life changing outcomes to the people through its interventions, in spite of the dwindling global economy and the agency’s meagre income. “Government is aware of your revitalisation of over 40 healthcare facilities across the six geo-political zones within last two years; putting smiles on the faces of ordinary Nigerians in remote villages and communities, “Akume said. In her remarks, the Permanent

Secretary, Ministry of Special Duties, Mrs Patricia Ibiene, said that the agency’s gigantic interventions were timely considering the state of the country’s healthcare facilities. Ibiene noted that the projects were a clear testament to the good leadership in the Fund. Speaking at the event, the Executive Secretary of NLTF, Dr Bello Maigari, said that the interventions had reaffirmed the President Muhammadu Buhariled administration’s commitment to promoting quality healthcare and well-being of the country, through funding from national lottery proceeds.

L-R: Chief Operating Oﬃcer, Presco Plc, Gerald Ray; Past President, Institute of Directors (IoD), Mrs Eniola Fadayomi; Past Chairman, Nigeria Economic Summit Group (NESG), Mazi Sam Ohuabunwa; Head Of Marketing, Presco Plc, Jagdish Kavathar; Relations Manager, Presco Plc, Tony Uwajeh and Company Secretary, Presco Plc, Patrick Uwadia, Receiving Pearl Sectoral Leadership Award in Agriculture in Lagos...recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

AUGUST 2022 Money Supply (M3)

49,356,443.6

-- CBN Bills Held by Money Holding Sectors

50,601.36

Money Supply (M2)

49,305,842.3

-- Quasi Money

27,869,678.3

-- Narrow Money (M1)

21,436,164

---- Currency Outside Banks

2,680,236.81

---- Demand Deposits

18,755,927.2

Net Foreign Assets (NFA)

5,074,909.92

Net Domestic Assets(NDA)

27,869,678.3

-- Net Domestic Credit (NDC)

61,195,142.4

---- Credit to Government (Net)

21,001,401.5

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

40,193,740.9

--Other Assets Net

6,785,979.22

Reserve Money (Base Money

14,040,351.9

--Currency in Circulation

3,210,664.98

--Banks Reserves --Special Intervention Reserves

10,829,686.9 390,557.8

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

July 2022

Inter-Bank Call Rate

13.00

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

14.00

Treasury Bill Rate

2.76

Savings Deposit Rate

1.42

1 Month Deposit Rate

3.64

3 Months Deposit Rate

4.96

6 Months Deposit Rate

5.87

12 Months Deposit Rate

5.76

Prime Lending rate

12.10

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 24 OCTOBER, 2022

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

T H I S D AY ˾ WEDNESDAY, NOVEMBER 30, 2022

MARKET NEWS

Wigwe: Access Holdings Positioned to Become Largest Payment Settlement Platform In Africa KayodeTokede The Group Managing Director of the Corporation, Herbert Wigwe, yesterday in Lagos said the Holding company is set to become the largest payment settlement platform in Africa. Speaking at the Statutory Meeting with shareholders, he noted that the Holding company in its bid to become Africa’s gateway to the world is set to launch a new company, Hydrogen.

He noted that with the launch of the subsidiary, Access Holdings would be supporting intra-Africa trade, adding that in partnership with some DFIs, Hydrogen would be responsible for payment across the continent. According to him, “We share the fact with you that we wanted to be known as Africa’s gateway to the world and what that meant was that we are going to be responsible for payments across the entire continent, irrespective of

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

where you are and where you’re transferring money from. We are going to support intra-African trade, which is a big problem today. “The bank cannot do this alone because these are very specialist skills and it will allow us to be able to ensure that there are settlements even in countries where we don’t have a physical presence. “The idea is that wherever you are in the world if you’re making a transfer to anybody across the

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

VALUE TRADED ( N )

continent, one out of every three transactions that come into the continent will be settled on Access Bank’s platform.” He, however, assured shareholders that though this business would generate commissions and fees but it would not lead to significant credit risk. He noted that, “They do have operational risk, obviously, but we do have a strong compliance process and technology platform which we will enhance to ensure

T R A D E D MAIN BOARD

that operational risks will be significantly mitigated.” Speaking further, the GMD said plans are underway for the establishment of more subsidiaries, among which are Insurance Brokerage, Lending platform targeted at youths, among others. He assured the shareholders that the Corporation would increase its earnings base as it continues to spread its tentacles across the continent. “We will continue to spread

A S O F

across Europe to make sure that at the end of the day, perhaps ten years from now, we would have created a very strong diversified entity, not just relying on Nigeria or Africa but having a broad diversified income base with good quality earnings coming from countries where the inflation rates are less than that of the country, therefore making us much stronger franchise than any other financial institution in the continent,” Wigwe said.

2 9 / 1 1 / 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˜ ͻ͸˜ ͺ͸ͺͺ ˾ T H I S D AY

Wednesday, November 30, 2022

dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ /ŶĚĞǆ ŝƉƐ Ϭ͘ϯй dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞǆ ĚĞĐůŝŶĞĚ Ϭ͘ϯй ƚŽ

THISDAY AFRINVEST 40 INDEX

Ϯ͕ϭϯϰ͘ϳϳ ŝŶĚĞǆ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƉƌŝĐĞ ĚĞĐůŝŶĞ ŝŶ 'd K

;ͲϬ͘ϯйͿ͕ E/d, ;Ͳϭ͘ϰйͿ͕ ĂŶĚ ^^ KZW ;Ͳϯ͘ϱйͿ͘

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƵŵƵůĂƟǀĞůǇ͕ ƚŚĞƐĞ ƐƚŽĐŬƐ ĂĐĐŽƵŶƚ ĨŽƌ ϭϭ͘ϳй ŽĨ ƚŚĞ

Current Price

Ticker

ŝŶĚĞǆ͘

THISDAY AFRINVEST 40

2134.77

Price Previous Price Current Change Price Change Weighting Index to Change YTD Date

-0.31%

ROE

15.1% 113.5%

24.9%

ROA

P/E

4.6%

4.3x

P/BV

Divindend Earnings Yield Yield

0.8x

6.4%

14.8%

dŚĞ ĞĂƌƐ WĞƌƐŝƐƚ͘͘͘ ^/ ĚŽǁŶ ϮϰďƉƐ /Ŷ ůŝŶĞ ǁŝƚŚ ŽƵƌ ƉƌŽũĞĐƟŽŶ͕ ƚŚĞ ĚŽŵĞƐƟĐ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ƐƵƐƚĂŝŶĞĚ ŝƚƐ ďĞĂƌŝƐŚ ƉĞƌĨŽƌŵĂŶĐĞ ĂƐ ƚŚĞ ůů Ͳ^ŚĂƌĞ ŝŶĚĞǆ ƐŚĞĚ ϮϰďƉƐ ƚŽ ϰϳ͕ϯϮϮ͘ϵϳ ƉŽŝŶƚƐ ǁĞŝŐŚĞĚ ďǇ ůŽƐƐĞƐ ŝŶ E ;Ͳϳ͘ϳйͿ͕ ^d E / ;Ͳϰ͘ϮйͿ͕ ĂŶĚ ^^ KZW ;Ͳϯ͘ϱйͿ͘ ĐĐŽƌĚŝŶŐůǇ͕ zd ƌĞƚƵƌŶ ĨĞůů ƚŽ ϭϬ͘ϴй ;ƉƌĞǀŝŽƵƐůǇ͗ ϭϭ͘ϬйͿ ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝͲ ƚĂůŝƐĂƟŽŶ ĚĞĐůŝŶĞĚ ʬϲϭ͘ϴďŶ ƚŽ ʬϮϱ͘ϴƚŶ͘ ĐƟǀŝƚǇ ůĞǀĞů ǀĂƌŝĞĚ ĂƐ ǀŽůƵŵĞ ƚƌĂĚĞĚ ĨĞůů ϱϲ͘ϳй ƚŽ ϭϬϮ͘ϵŵ ƵŶŝƚƐ͕ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ϱ͘ϰй ƚŽ ʬϭ͘ϲďŶ͘ DŝǆĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁŝƚŚŝŶ ŽƵƌ ƉƵƌǀŝĞǁ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŵŝǆĞĚ ĂƐ ϯ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ͕ Ϯ ůŽƐƚ͕ ǁŚŝůĞ ƚŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞǆ ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ /ŶĚƵƐƚƌŝͲ

Ăů 'ŽŽĚƐ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ ϭϮďƉƐ ĂƉŝĞĐĞ͕ ĐŽƵƌƚĞƐǇ ŽĨ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ t W/ ;нϲ͘ϭйͿ ĂŶĚ h D Ed ;нϬ͘ϯйͿ͘ dƌĂŝůŝŶŐ͕ ƚŚĞ &ZͲ/ d ŝŶĚĞǆ ŐĂŝŶĞĚ ϭϭďƉƐ ĂƐ ŝŶǀĞƐƚŽƌƐ ŚƵŶƚ ĨŽƌ ďĂƌŐĂŝŶƐ ŝŶ DdEE ;нϬ͘ϮйͿ͘ ,ŽǁͲ

ĞǀĞƌ͕ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ůŽƐƚ Ϯ͘ϭй ĂŶĚ ϭ͘Ϭй ƐĞƋƵĞŶƟĂůůǇ ĚƵĞ ƚŽ ƐĞůů ƉƌĞƐƐƵƌĞ ŽŶ T o p 10 T r a d e s b y V o l u m e

T o p 10 G a in e r s

^d E / ;Ͳϰ͘ϮйͿ͕ ^^ KZW ;Ͳϯ͘ϱйͿ͕ ĂŶĚ E ;Ͳ

Vo lum e

P ric e C hg %

CHA M S

0.24

9.1%

T R A N SC OR P

WA P IC

0.35

6.1%

A C C ESSC OR P

NP FM CRFB K

1.58

5.3%

KƵƚůŽŽŬ

J A IZ B A N K

0.85

3.7%

FCM B

3.35

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕ ŝŵƉƌŽǀĞĚ ŵĂƌŐŝŶĂůůǇ ƚŽ ͲϬ͘Ϭϭǆ ĨƌŽŵ ͲϬ͘Ϭϯǆ ŝŶ ƚŚĞ ƉƌŝŽƌ ƐĞƐƐŝŽŶ ĂƐ ϭϯ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ͕ ϭϰ ĚĞͲ

T ic k er

P ric e

ϳ͘ϳйͿ͘

ĂƚĞ ŐŝǀĞŶ ƚŚĞ ŵŝůĚ ŝŵƉƌŽǀĞŵĞŶƚ ŝŶ ŝŶǀĞƐƚŽƌ ƐĞŶƟͲ ŵĞŶƚ͘

34.6

0.0%

11.2

-3.5%

Z EN IT H B A N K

9.3

-1.4%

FB NH

8.7

1.8%

3.1%

GT C O

8.5

-0.3%

24.00

2.1%

UB N

4.4

-4.6%

FB NH

11.20

1.8%

ST A N B IC

3.7

-4.2%

NA HCO

5.85

1.7%

F ID ELIT YB K

3.6

0.5%

UA C N

9.55

0.5%

FCM B

3.4

3.1%

F ID ELIT YB K

4.12

0.5%

UB A

3.4

-0.7%

N GXGR OUP

ĐůŝŶĞĚ ǁŚŝůĞ ϴϮ ĐůŽƐĞĚ ŇĂƚ͘ dŽĚĂǇ͕ ǁĞ ĂŶƟĐŝƉĂƚĞ ƚŚĞ ŶĞŐĂƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŝŶ ƚŚĞ ŵĂƌŬĞƚ ǁŽƵůĚ ŵŽĚĞƌͲ

P ric e C hg %

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

T o p 10 L o s e r s T ic k er N EIM ET H NB C A VER T ON ET I UB N ST A N B IC

P ric e

P ric e C hg %

T ic k er

Value

1.27

-8.0%

M TNN

354.3

0.2%

45.20

-7.7%

Z EN IT H B A N K

202.5

-1.4%

0.83

-5.7%

GT C O

169.4

-0.3%

-5.2%

N EST LE

115.0

0.0%

6.25

-4.6%

ST A N B IC

114.2

-4.2%

30.55

-4.2%

FB NH

96.6

1.8%

94.9

-3.5%

10.10

P ric e C hg %

A C C ESSC OR P

8.20

-3.5%

A C C ESSC OR P

A IIC O

0.54

-1.8%

N GXGR OUP

60.2

2.1%

52.4

0.3%

41.6

-7.7%

R OYA LEX

0.70

-1.4%

B UA C EM EN T

Z EN IT H B A N K

21.70

-1.4%

WEDNESDAY, NOVEMBER 30, 2022 • T H I S D AY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 28Nov-2022, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 178.11 179.26 6.72% Afrinvest Plutus Fund 100.00 100.00 11.11% Nigeria International Debt Fund 320.07 320.07 14.70% Afrinvest Dollar Fund 106.85 108.00 8.27% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 11.88% AIICO Balanced Fund 3.61 3.65 5.86% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.02% Anchoria Equity Fund 139.28 140.82 0.02% Anchoria Fixed Income Fund 1.16 1.16 1.22% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 20.94 21.57 107.97% ARM Discovery Balanced Fund 491.50 506.32 119.44% ARM Ethical Fund 42.06 43.33 117.57% ARM Eurobond Fund ($) 1.10 1.10 102.56% ARM Fixed Income Fund 1.07 1.07 111.01% ARM Money Market Fund 1.00 1.00 11.49% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 94.35 94.35 -8.22% AVA GAM Fixed Income Naira Fund 1,078.03 1,078.03 1.18% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 140.33 141.31 5.45% AXA Mansard Money Market Fund 1.00 1.00 11.80% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.05 2.05 0.00% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.26 2.30 3.94% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalﬁf@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.03 1.03 7.71% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 13.32% Paramount Equity Fund 17.67 17.99 5.79% Women's Investment Fund 143.88 145.58 1.35% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 10.64% Cordros Milestone Fund 133.06 133.97 6.85% Cordros Dollar Fund ($) 112.30 112.30 5.01% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 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 N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A 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 1454.52 1454.52 11.47% FBN Balanced Fund 192.83 194.09 10.03% FBN Halal Fund 121.58 121.58 12.18% FBN Money Market Fund 100.00 100.00 12.77% FBN Dollar Fund 119.49 119.49 6.61% FBN Smart Beta Equity Fund 152.98 155.10 1.91% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 11.44% Legacy Debt Fund 3.58 3.58 -10.58% Legacy Equity Fund 1.86 1.90 7.04% Legacy USD Bond Fund 1.25 1.25 3.61% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn

Coral Balanced Fund Coral Income Fund Coral Money Market Fund

4,012.11 3,681.94 100.00

4,039.56 3,681.94 100.00

3.31% 6.77% 13.89%

FSDH Dollar Fund 1.13 1.13 0.00% GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 14.56% Vantage Balanced Fund 3.00 3.05 0.00% Vantage Guaranteed Income Fund 1.00 1.00 8.62% Kedari Investment Fund (KIF) 144.38 144.38 0.00% Vantage Equity Income Fund (VEIF) - June Year End 1.19 1.23 0.00% Vantage Dollar Fund (VDF) - June Year End 1.08 1.08 4.49% 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 1.67 1.70 17.35% Lotus Halal Fixed Income Fund 1,172.29 1,172.29 8.62% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.12 102.12 9.23% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.89% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.55 1.58 -1.50% PACAM Fixed Income Fund 10.36 10.44 -7.03% PACAM Money Market Fund 10.00 10.00 9.86% PACAM Equity Fund 1.38 1.40 -2.93% PACAM EuroBond Fund 120.00 123.23 5.51% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund N/A N/A N/A SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.09 1.09 11.04% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,517.22 3,544.73 3.74% Stanbic IBTC Bond Fund 244.18 244.18 3.65% Stanbic IBTC Ethical Fund 1.35 1.36 7.54% Stanbic IBTC Guaranteed Investment Fund 330.83 330.83 5.65% Stanbic IBTC Iman Fund 253.06 256.04 8.33% Stanbic IBTC Money Market Fund 1.00 1.00 10.83% Stanbic IBTC Nigerian Equity Fund 11,555.24 11,690.06 5.81% Stanbic IBTC Dollar Fund (USD) 1.36 1.36 5.02% Stanbic IBTC Shariah Fixed Income Fund 120.41 120.41 2.99% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 114.22 114.22 7.37% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.89 0.91 1.13% United Capital Balanced Fund 1.32 1.34 0.96% United Capital Wealth for Women Fund 1.14 1.15 10.14% United Capital Sukuk Fund 1.10 1.10 7.18% United Capital Fixed Income Fund 1.94 1.94 6.26% United Capital Eurobond Fund 124.70 124.70 5.78% United Capital Money Market Fund 1.00 1.00 14.65% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.49 13.61 2.29% Zenith ESG Impact Fund 15.26 15.40 4.38% Zenith Income Fund 23.41 23.41 6.63% Zenith Money Market Fund 1.00 1.00 10.53% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 3.93 4.03 -1.92% Vetiva Consumer Goods Exchange Traded Fund 5.47 5.57 -6.36% Vetiva Grifﬁn 30 Exchange Traded Fund 17.33 17.53 -1.99% Vetiva Money Market Fund 1.00 1.00 11.12% Vetiva Industrial Goods Exchange Traded Fund 21.25 21.45 6.29% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 134.86 136.86 -14.43%

REITS NAV Per Share

Yield / T-Rtn

121.03 52.65

6.71% 3.47%

Bid Price

Offer Price

Yield / T-Rtn

14.35 125.78 96.62 17.10 16.40

14.45 127.99 98.28 17.20 16.50

2.58% -1.43% -3.37% 9.68% -0.48%

NAV Per Share

Yield / T-Rtn

107.59

0.00%

Fund Name SFS REIT Union Homes REIT

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

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

T H I S D AY ˾ WEDNESDAY NOVEMBER 30, 2022

EDUCATION Boosting Economic StabilityVia Innovation in Public Education At the 28th Nigerian Economic Summit held recently in Abuja, experts explained how increased funding, standardisation and innovation in public education could deliver economic stability for growth in the country. Funmi Ogundare reports

olicymakers, business leaders, development partners, civil society leaders and scholars recently converged on the Transcorp Hilton, Abuja, for the 28th Nigerian Economic Summit (#NES28), aimed at articulating the country’s development imperatives that will satisfy the need for economic security and sustainability, social justice, conscientious governance, political stability and proffer solutions to Nigeria’s learning deprivation. Themed ‘2023 and Beyond: Priorities for Shared Prosperity’, the event was attended by Vice President Yemi Osinbajo, Governor Nasir El-Rufai, the Minister of Finance, Budget and National Planning, Zainab Ahmed, the UNICEF country representative, Cristian Munduate, Special Adviser to the President on Social Investments, Maryam Uwais, Director Arc Lights Foundation, Abisola Obasanya and Executive Secretary of Universal Basic Education Commission (UBEC), Hamid Bobboyi. Osinbajo, representing President Muhammadu Buhari at the opening ceremony, spoke about ‘How Partnership, Innovative Thinking, Disciplined Implementation can Boost Economic Growth, Productivity’, stated that with pressing national, and global economic challenges, the task ahead of the Nigerian nation requires partnership, innovative thinking, and most importantly, disciplined implementation, by both government and the private sector. He emphasised key issues that will drive growth and prosperity, including the National Development Plan 2021 to 2025 and the impact of the economic sustainability plan. “There’s a need for increased productivity and value addition across different sectors of the economy so as to create more jobs for Nigerians, especially its youths, and increase national revenue for further development,” he stated. The programme also witnessed panel sessions featuring NewGlobe Nigeria, a global leader in learning, showcased an already successful local education transformation plan and blueprints for eradicating learning poverty in Nigeria. Speaking during the session tagged ‘Eradicating Learning Deprivation’, the Group Managing Director, NewGlobe,

Vice President, Prof Yemi Osinbajo with other guests at the NewGlobe exhibition stand during the 28th Nigerian Economic Summit (#NES28) held in Abuja... recently Mrs Omowale David-Ashiru, described learning poverty as a global problem exacerbated by the COVID-19 pandemic in African countries like Nigeria. she stated that the combination of out-of-school children and the poor rate of learning for those in school have gravely threatened the potential of future economic growth and social development. She emphasised possible solutions to the challenges that can work at scale and within existing government systems to improve learning outcomes. David-Ashiru noted that “there

must be (a) commitment to learning programmes by governments through teacher training, improved instruction and structured pedagogy, as well as (the) measurement of learning outcomes.” She recalled the holistic methodology already delivering value for Nigerian children in Edo, Lagos and Kwara states in the digital learning platform, adaptive instructional content, teacher training and coaching, and 360-degree support. “Within this holistic system (there) are many sets of practices, such as school management, learning and development, instructional guidance, and feedback,” explained David-Ashiru. “Schools in this system are being transformed using technology and data. Every school is

“Nigeria must articulate a framework to harness foundational literacy and numeracy for 2023 and beyond as a matter of priority”

transparent and accessible to its political leaders; decisions and policies are data-based, and children are learning at a speed not seen before in Nigeria.” Emphasising the Kremer study learning, David-Ashiru stated that, aside from investing in infrastructure, Nigeria should also look at foundational literacy and numeracy at basic education levels to eradicate learning poverty in the country. “This holistic learning methodology was the subject of a two-year study led by 2019 Nobel prize winner Prof. Michael Kremer. The Kremer study finds that NewGlobe methods deliver unequivocal major learning gains across every academic year in its supported schools, compared with other schools,” she said. “These are particularly large in the key grades for Foundational Literacy and Numeracy (FLN), primary classes one and two.” Chief of Staff to the President, Prof Ibrahim Gambari, commended participants and endorsed the summit’s outcomes, including the need for restoration, increased funding, standardisation and innovation in public education to deliver economic stability for growth. This outcome, among others, will be contained in the NES28 ‘Green Book’, a compendium of summit recommendations to be disseminated to federal ministries, departments and agencies (MDAs), including other critical stakeholders, for implementation. Other participants at the programme noted that the ‘Eradicating Learning Deprivation’ interactive panel at the #NES28 delivered examples of an actionable framework for transformational leadership in education for Nigeria. They mentioned they “have a sustainable and inclusive solution to learning poverty, a necessary imperative for transforming Nigeria’s human capital into national productive and innovative capacity that creates a secure collective future of prosperity for all and sustained economic development.” They further stressed the need for Nigeria to articulate a framework to harness foundational literacy and numeracy for 2023 and beyond as a matter of priority, pointing out that the country has “a chance to drive real change and deliver quality education for children in Nigeria.”

Stakeholders Recommend Inclusion of Skills Acquisition in Primary Schools Uchechukwu Nnaike and Funmi Ogundare

Stakeholders from public and private sectors recently converged on The Zone, Lagos, for the NEDIS 2022 education innovation summit, aimed at highlighting the role of innovations in solving challenges facing the delivery of accessible and quality education. The summit, hosted by The Education Partnership (TEP) Centre, was themed ‘Reimagining the Future of Education in Africa: Bridging the Skills Gap’. Stakeholders agreed on the need for a paradigm shift from developing infrastructures to ensuring that scholars acquire relevant skills, especially ICT, in primary schools. Speaking with journalists, the Programme Coordinator for NEDIS, Utibe Henshaw, explained the importance of the business of education, ideas sharing, and collaboration to enable the children who are the future to thrive and survive. “Our intention is to highlight the purpose of education. There is a need that we must think about, and there is a future that will help children to thrive, not just survive,” said Henshaw. “That is what the education system should be about.

Parents, guardians communities, and cooperate organisations have a role to play.” Henshaw noted that “the argument we are making is that skills are developmental in nature,” stressing that learning “Artificial Intelligence (AI), how to do basic maths, for instance, infrastructure is a good investment, but it is not a good indicator of outcome, so skills and competences should be the main driver of education quality.” Henshaw added, “What can our children do in 10 years’ time? The child who has gone through nine years of basic education in Nigeria, what kind of skills does he have? Can he communicate, think critically and solve problems? That is the message we want to pass across.” The programme witnessed a panel discussion on ‘Moving from ABCs to a Highly Skilled Workforce’, ‘Much Ado About Literacy, 21st Century Skills and Green Education’, and ‘Measuring Progress Towards Sustainable

Development in Africa Using Learning Outcome Data’, among others. In his presentation on ‘Non-state schooling in Northern Nigeria: Implications for Regulations and Partnership’, the Technical Lead on Governance of Non-state Systems, Partnership for Learning for All in Nigeria (PLANE) programme, Dr James Fadokun expressed concern about the massive number of private schools especially in some northern parts of the country compared with the public schools, saying that this has implications for teaching and learning, as well as teacher availability in those schools. “Learning crisis is a challenge in the north because of the massive number. For instance, in Kano, we have 23,000 private schools. It’s even more of a challenge because they are more than public schools,” Fadokun noted. He explained that “when you look at the massive number, it has implications for teaching and learning and teachers availability in those schools and knowing where they are, classroom and pupil-teacher ratio which is very massive.” Fadokun expressed concern that the situation would “overstretch.” “The pupil /teacher ratio is very high

in Jigawa state. It is about a ratio of 1 to 153,” he added. Fadokun, however, stressed the need for the government to recruit more teachers and for them also to take advantage of the social networks available. “The ministry of education is bringing in the N-teach to be able to harness some of that capacity back to the school system so that the pupil/teacher ratio will be okay,” he suggested. A permanent board member of the Lagos State Universal Basic Education Board (SUBEB), Mr Owolabi Falana, highlighted the board’s efforts to digitalize the teaching and learning process. To develop education in Africa, he said African governments need to re-strategise their curriculum to support their identified focus areas and develop fit-for-purpose curriculum. Adekanla Adegoke, the Head of the Oando Foundation and Tonia Uduimoh, the Programme Manager, described education as contributing meaningfully to national development and critical for children’s continued learning. They stressed the need for the private sector to innovate rapidly to ensure a transformation for the good of all.

T H I S D AY ˾ WEDNESDAY NOVEMBER 30, 2022

EDUCATION

Wifi Combat Academy Introduces Techpreneurship for Students Mary Nnah The Wifi Combat Academy, a Digital Incubation Hub, offers various educational technology solutions to institutions, schools, and the government to help bridge the gap in preparing children for the 21st-century workforce. Wificombat Academy has held numerous coding boot camps and workshops for the past nine years and has trained over 12,000 children on coding, emerging technology, and entrepreneurship. Through its partnership with organisations such as Oracle academy, Datascience Nigeria, MTN, Microsoft, Google, Gtbank, Lagos government and schools, it has organised various digital workshops on coding, emerging technology and entrepreneurship. According to the academy’s CEO, Mrs Dele Tejuoso, Africa needs a new generation of entrepreneurs and a set of innovative, high-growth companies that would energise the sector and create jobs. “Small and Growing Businesses (SGBs) contribute significantly to the economic vitality of emerging and frontier markets. Exciting tech-enabled innovations like these are springing up across the African continent, spearheaded by a young generation with solution mindsets, launching edgy startups and increasingly using tech skills to tackle some of the continent’s most intractable challenges, such as quality health and education for all,” she stated. Tejuoso, who described the Teen Tech Entrepreneurship

workshop as an empowerment programme for teens and youths to learn how to collaborate and launch creative tech business ventures, added, “We have held several startups workshops for the few years addressing the gap. The goal is to get teens and youths across Nigeria to be more interested in technology and tech startups, to make a difference, who will lead productive, fruitful and purposeful enterprises.” The second cycle of the programme had students write a business plan and pitch tech solutions in the agriculture and health sector, during which the organisation invited business leaders in various industry leaders to mentor the kids. “We will be holding the third cycle Teen Techpreneurship Workshop 2023 -Block Chain as an Innovation Driver for the Digital Economy, next year in April in partnership with the American Corner,” Tejuoso added. According to her, the training will be hybrid involving 200 secondary schools and post-secondary students, and undergraduates (100 and 200 levels) across Nigeria will participate. The workshop will be supervised by the director of American Corner, Mrs Stephanie Adesanya and Tejuoso. Students will also have the opportunity to network with industry leaders, attend the post-programme event on training them on Blockchain and also build their apps through the organisation support and mentorship programme.

Teenager Wins MTN mPulse Spelling Bee, Gets N2.5m Scholarship Funmi Ogundare

A student of Intimacy with Christ International School, Mararaba, Nasarawa State, Miss Kate Ene David, 14, weekend, emerged winner of the 2022 fifth edition of the MTN mPulse Spelling Bee competition, aimed at promoting digital literacy, academic excellence and empowering the nation’s education sector. She defeated over 11,000 students who participated in the competition to become MTN Nigeria CEO for a day and assume leadership of Africa’s largest telecommunication network. In addition, David was awarded a N2.5 million scholarship, a laptop, a smartphone, and an MTN goody bag. MTN will also present a N350,000 grant and state-of-the-art ICT devices to her English teacher and school, respectively. The first, second and third runners-up, Divine Capable Agbo from Intimacy with Christ International School, Nasarawa, Rejoice Okechukwu representing Glorious Covenant School, Rivers, Ann Daniel, a student of Glorious Covenant School Rivers, and other finalists received prizes worth over N5.7 million. Speaking at the grand finale, held at the organisation’s head office in Lagos, the MTN Nigeria

Chief Marketing Officer, Adia Sowho, congratulated the top 20 contestants saying that the initiative presented a platform for them to develop and maximise their potential. Sowho explained that “promoting digital education is one way in which we can encourage people to embrace the digital space and enjoy the benefits and convenience that come with it.” She added, “This is why MTN mPulse continues to engage with young people through the website, which has a vast variety of educational content, enabling them to learn, play and shine.” MTN Nigeria’s Chief Human Resource Officer, Esther Akinnukawe, commended the finalists for making it to the finals, saying, “Congratulations to Kate for emerging the champion. I want to thank and commend every participant for showing up. Showing up is a winning quality, and I admire your courage in standing in front of the audience to represent yourself, your parent, and your school. We are thrilled to have such a large turnout, and we are more confident to carry on this educative initiative.” The winner, Miss Kate Ene David, said the journey “has never been easy, but I studied a lot.”

Alex Otti Lists Ways Nigerian Universities Can Be Competitive Emmanuel Ugwu-Nwogo in Umuahia

Renowned banker and economist Mr Alex Otti has decried the standard of academic content and training students are exposed to in the Nigerian university system, making them less competitive after graduation. He said universities turn out their products without giving them relevant skills needed to think outside the box and develop relevant solutions to problems, thereby attaining self-reliance in the globalised economy. Otti stated this in a keynote address, ‘Gown to Town: Strategies for Graduate

Employment Readiness and Economic Growth’, delivered at the inaugural ‘Gown-to-town Symposium’, organised by the Abuja chapter of the University of Port Harcourt Alumni Association. “I believe, and with all due respect, that our universities have failed us so far. Nigerian universities have remained in the lower rankings in the World and Africa. For instance, in the 2022 edition of Times Higher Education Ranking, no Nigerian University made it to the top 400 universities in the world,” stated the banker, noting that “explains how fast the world is moving or how fast Nigeria is moving in the wrong direction. In this

same report, the University of Cape Town in South Africa ranked 155th.” Otti added, “In another report, the 2022 African University Ranking, which essentially agreed with the Times ranking, only two Nigerian universities made it to the top 40 in Africa. The first of those schools, the University of Ibadan (also ranked highest for Nigeria in the Times Higher Education Ranking), came fourth after three South African universities.” Otti, the governorship candidate of the Labour Party for Abia, also noted that “most Nigerian tertiary education curricula are a poor imitation of the study packs of western

universities hence the difference in the quality of their products.” As a way out of the national malaise, Otti suggested seven steps that government must take. “We must have the (political) will to spend at least 25 per cent of the country’s annual budget on education and create special education funds to support R&D (research and development) in priority areas,” he stated and encouraged tertiary institutions to collaborate with “industry to have successful entrepreneurs address undergraduates from time to time (bringing the town to gown) in what should be annual symposia that target a mindset shift or orientation for undergraduates.”

L-R; Managing Director, Molcad Associates, Segun Adetunji; Permanent Secretary, Federal Ministry of Education, Mrs. Olabisi Pelola Oshiba (rtd), winner of Elizabeth Modupe Astunji’s Outstanding Teachers Award, Medinat Oyedele; and CEO, Edumark Consult, Mrs. Yinka Ogunde, during the presentation of cheque and plaque to the winner in Lagos... recently PHOTO: SUNDAY ADIGUN

OOU Matriculates 7,000 Students James Sowole in Abeokuta

Seven thousand new students of Olabisi Onabanjo University (OOU), Ago-Iwoye, Ogun, recently took the oath of allegiance and good conduct at the matriculation ceremony for the 2021/2022 academic session. At the ceremony, held at the Otunba Gbenga Daniel Hall of the main campus, the Vice-Chancellor, Prof Ayodeji Agboola, congratulated the

freshmen for scaling the hurdles of qualifying examinations and other prerequisite qualifications necessary for gaining admission into the university. He also commended their parents and guardians for providing the support and logistics to secure admission, urging them to monitor their wards and academic performances regularly. He urged the students to abide by the rules and regula-

tions guiding the institution’s operations, stressing that such compliance would surely go a long way in moulding them into what they have dreamt of becoming. Agboola, who noted that the matriculation marked the beginning of a new journey, warned the students against cultism, examination malpractice and any other form of social vices that could bring the university into disrepute.

The vice-chancellor stressed the need for the students to attend lectures regularly and do their assignments, adding that they must study very well and prepare adequately for their examinations. Agboola assured the matriculants that OOU had been adequately positioned to prepare its students to meet the demands and challenges of the 21st century as prospective graduates.

201 Indigent Students Get Scholarship by Bauchi APC Guber Candidate Segun Awofadeji in Bauchi

Two hundred and one students of Milikya College of Health and Social Sciences in Bauchi are set to enjoy full scholarships. The scholarship was offered to the selected indigent students by the gubernatorial candidate of the All Progressives Congress (APC) in Bauchi, Ambassador Saddique Baba Abubakar. Presenting the scholarship packages to the benefiting students, Abubakar lamented the inadequate attention to education by the present

administration, berating it for paying lip service to the sector. He also criticised the government for reneging on the private-public partnership (PPP) agreement entered into by the previous administration with the college proprietor, saying it was wrong. The APC gubernatorial candidate promised that if elected, his administration would revisit the issue and see how the agreement can be reviewed and made effective because, according to him, education is something

that government alone cannot shoulder. He then advised the students to take their studies seriously so that they will excel and become useful to society saying, “health education is vital to the existence of the society, so take your studies seriously.” Abubakar said he would continue to support indigent and vulnerable people in society in his capacity if elected. The proprietor of the college, Aminu Mohammed DanBauchi, said that over the years, partnerships between the public and private

sectors had become common strategies for responding to the global public health crises of HIV/AIDS, tuberculosis and malaria at both the national and international levels. “Through these public-private partnerships (PPPs), partners from multiple sectors combine skills, expertise and resources to implement programmes larger in scope than the reach of individual partners,” he explained. “Many partnerships have been highly successful and rewarding to both parties, particularly the general public.”

IMAGES

T H I S D AY ˾ ͱͮ˜ ͰͮͰͰ

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

L-R: Director, Legal Services, National Youth Service Corps (NYSC), Ibrahim Tijani; Director of Press and Public Relations, NYSC, Mr. Eddy Megwa; and Overseeing Director of NYSC, Mrs. Christy Uba, during the workshop for Public Relations, Protocol and Freedom of Information Desk Oﬃcers held in Abuja…recently

L-R: Executive Secretary, Ibidun Ighodalo Foundation, Grace Ibijoke Ogunniyi; Senior Pastor, Trinity House, Pastor Ituah Ighodalo; Permanent Secretary, Oﬃce of the Lagos State Deputy Governor/representative of Lagos State Deputy Governor’s wife, Mrs. Mobolaji Dada; and Guest Speaker, Dr. Mojisola Aderonmu, at the Ibidun Ighodalo Foundation fourth annual Parent-in-Waiting Conference in Lagos…recently PHOTO: SUNDAY ADIGUN

L-R: Celebrant, Pastor Abayomi Oladiji; his wife, Mrs. Jaiyeola Oladiji; family members, Master Leke Oyeniran, Mr. Wole Oyeniran, Mr. Wale Adewunmi, Mrs. Yemi Adewunmi, and Ms. Ibiyemi Fashina, during a Thanksgiving Service to mark the 70th birthday of Pastor Oladiji at the Redeemed Christian Church of God (RCCG), Jesus House, Lagos Province 36, Ajao Estate, Lagos... recently

L-R: Managing Director/CEO, Integrated Indigo Communications, Bolaji Abimbola; Chairman, Brand Journalists’ Association of Nigeria (BJAN), Clara Chinwe Okoro; Public Relations Lead, 9mobile, Chineze Amanfo; Associate Director, Brooks and Blake, Oludare Ogunyombo; and former Vice Chairman, BJAN, Afolabi Idowu, at the 10th annual Brand and Marketing Conference held in Lagos…recently

L-R: Company Secretary/Legal Adviser, Federal Airports Authority of Nigeria (FAAN), Mrs. Bridget Iwinose Gold; Managing Director/CEO, FAAN, Captain Rabiu Yadudu; Minister of Aviation, Senator Hadi Sirika; Chief Executive Oﬃcer, Merry Aviation, Mr. Manoj Jagtiani; Director of Finance and Account, FAAN, Mrs. Nike Aboderin; and Director of Human Resources and Administration, FAAN, Mr. Honorious Anozie, at the stakeholders’ forum for the reconstruction of 18L runway at the Murtala Muhammed International Airport, Ikeja, Lagos...recently PHOTO: KOLAWOLE ALLI

L-R: Marketing Director, Airtel Nigeria, Ismail Adeshina; Principal, Christ Life Special Mission for Deaf School, Apeh Rachael Oluwatoyin; the beneﬁciary/Lead Act in the ‘Data is Life 5.0 TVC’ titled: ‘Esther’, Anuguo Augusta; Chief Executive Oﬃcer, Airtel Nigeria, Surendran Chemmankotil; and acting Head of Brands and Advertising, Airtel Nigeria, Omobolanle Osotule, during the commemoration of the World Children’s Day 2022 at the Airtel headquarters, Ikoyi, Lagos…recently

L-R: Newly inducted President, Wesley Cathedral Olowogbowo Lagos Choir, Sir Anthony Abolarinwa Cole; his wife, Lady Oluwakemi Cole; Matron of the choir, Dean Olamide Fadipe; and Patron of the choir, Elder Koﬁ Sagoeat, during the induction of Abolarinwa Cole as the new president of the Wesley Cathedral Olowogbowo Lagos Choir held in Lagos…recently

L-R: Managing Director, SystemSpec, John Obaro; Convener, CIO Awards and CIO Club Africa, Abiola Laseinde; representative of the Minister of Communication and Digital Economy/Chief Executive Oﬃcer, National Identity Management Commission (NIMC), Aliyu Aziz; Country Manager, Google, Juliet Ehimuan; and Chairman, CIO Awards Jury, Ayo Bajomo, at the CIO Awards 2022 held in Lagos…recently

WEDNESDAY, ͻ͸˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

FUNERAL SERVICE OF GOLDEN MOTHER MARTHA ACHONU... L-R: Hon. Chike Okafor; Chief Tony Chukwu; Imo State Governor, Hope Uzodinma; Former President, Chief Olusegun Obasanjo; Bishop S.A. Amatu, and Senator Athan Achonu, at the funeral service of his late mother, Martha Achonu, at St. Charles' Catholic Church Umunumo in Ehime Mbano LGA, Imo State...recently

Judge Sends IG to Three Months Imprisonment for Disobeying Court Order Police: IG not aware of court order Alex Enumah and Kingsley Nwezeh in Abuja Justice Bolaji Olajuwon of a Federal High Court, Abuja, yesterday, made an order committing the Inspector General of Police (IGP), Mr. Usman Baba, to three months imprisonment for allegedly refusing to obey a court judgment made in 2011. But the Nigeria Police has said it was not aware of the court order. The police stated this in a statement signed by its Force Public Relations Officer, and Chief Superintendent of Police (CSP), Olumuyiwa Adejobi. The order was in respect of a police officer, Patrick Okoli, who was compulsorily retired from the force. Delivering ruling in a contempt proceedings filed by Okoli’s lawyer,

Arinze Egbo, the court also warned Baba against non-compliance with the earlier court judgment. According to Justice Olajuwon, the IG shall be liable to another three months jail-term if he fails to purge himself of the contempt. Okoli, in a suit marked: FHC/ ABJ/CS/637/2009, had dragged the IG to court over his alleged compulsory retirement from service. He had amongst others prayed the court to order his reinstatement, claiming that he was unlawfully retired in 1992, by the Police Council, presently known as Police Service Commission (PSC), while serving in Bauchi State Command as a Chief Superintendent of Police (CSP). He said his compulsory retirement, under Decree 17 of 1984, was illegal.

Justice Donatus Okorowo had in a judgment on October 21, 2011, issued an order of mandamus compelling the IG to do his duty according to law. The judge had also directed the IG to comply with the orders of the PSC, as contained in their letter of 5th May, 2009 (with Ref. No. PSC/ CSP/01/11/295A), directing him to reinstate Okoli into the Nigeria Police Force and to present for the recommendation of the commission, the I-G’s recommendation for the promotion of the applicant from 2013 to date, among others. However, following noncompliance with the judgment, Okoli’s counsel, Egbo, filed Forms 48 and 49 supported by affidavit before Justice Olajuwon, praying the court to convict and sentence

the IG for failing to obey court judgment delivered by Justice Okorowo on October 21, 2011. The lawyer urged the court to grant their application on the grounds that the IG disregarded a memo of legal advice by the PSC advising him to take cognisance and obey the court judgment. The court in its ruling held that the IG had blatantly refused to carry out the order of the court despite being aware of it. “This court has bent backwards over and over again for the respondent. “This Court even ordered that the Assistant Chief Registrar (Litigation) write to the respondent to inform him of the pendency of this matter, which he did and the proof of receipt of same in the office of

Nigeria Operating Illegitimate Constitution, Says Agbakoba Wants presidential candidates to consider amendments in manifestos Sunday Ehigiator A former President of the Nigerian Bar Association (NBA), Mr. Olisa Agbakoba (SAN), has labelled the country’s constitution as illegitimate and responsible for the country’s disunity, poverty and other vices. He, therefore, tasked all the presidential candidates in the forthcoming general election to review their manifestos to include a drastic constitutional review targeted at ending multi-dimensional poverty and challenges in Nigeria.

Agbakoba made this known yesterday while presenting the OAL 2022 Policy Report titled, ‘Big Issues for the 2023 General Election’ to journalists in Lagos. According to him, the political economy of Nigeria was extremely fragile and incidentally, none of the candidates in their manifestos had attempted to link it all together. According to him, “Some of the candidates referred to the fact that Nigeria is divided and I think we can all agree on that. So, we thought that their manifestos should have

talked more about 'How To' and not just promise. “Remember what Bola Ige said some years ago that, 'unless we deal with the political arrangements that Nigeria agrees to, we will never have peace. I think this is a very important consideration that seems to be missing in the presentations of the candidates. The underline current suggests that the illegitimacy of the constitution remains a problem. “The constitution was bequeathed to us by the military.

And there is a very strong feeling particularly, among the sub-nationalities, i.e. Afenifere, Ohanaeze, and the likes, that you can't get this thing right unless you go to the issue of how we got this constitution in the first place. “So, I will encourage the candidates to look at that. And emphasise the need for Nigerians to come together and create a new constitution accepted by Nigerians for Nigeria,” adding that it was the only way there could be true unity and oneness among Nigerians.

Appeal Court Affirms Ondo Ex-deputy Gov's Emergence as PDP Senatorial Candidate Fidelis David in Akure The Court of Appeal sitting in Akure yesterday affirmed the candidature of former Deputy Governor of Ondo State, Chief Alfred Agboola Ajayi as the Senatorial candidate of the Peoples Democratic Party (PDP) for Ondo South senatorial district of the state. The Appellate Court presided by Justice Ayobode Olujimi LokuloSodipe dismissed the appeal filed by Senator Nicholas Tofowomo against the verdict of the Federal High Court which had affirmed Ajayi as the candidate of the party. Tofowomo who is the current Senator representing Ondo South

senatorial district had scored 74 votes in the primary election while Ajayi polled 78. But displeased with the outcome of the primary, Tofowomo through his counsel, Mr. Femi Emodamori had challenged the outcome of the primary election. Tofowomo had accused Ajayi of alleged act of perjury and education scandal. In a suit number: FHC/CS/AK/ 83 /2022 filed on July 5, 2022, the plaintiff prayed the court to nullify the former deputy governor’s nomination on the grounds that controversial academic records were presented by Ajayi for the election. He said once the winner was declared as not qualified, the

runner-up should be declared as winner. However, Ajayi, through his lawyer, Prof Kayode Olatoke argued that the allegation of perjury against him was unfounded, claiming that the school registrar as at the time he wrote his WAEC has sworn to an affidavit in 2006, to absolve him of the controversial error about his date of birth on his WAEC certificate. Also, Ajayi argued that the case was filed outside the time allowed under the law, that the court lacked jurisdiction to entertain the case and that it was a mere academic exercise and waste of court time. Justice Aikawa in his verdict delivered on October, had said

the Supreme Court in several decided cases held that the date of occurrence was to be used to determine the status of the case and not the date the plaintiff was aware of the infraction. He said the date of the occurrence of the cause of action was June 9, 2022 and the date the case was filed was July 5, 2022. He held that the case which was supposed to be filed 14 days was filed after 26 days, after the cause of action. Justice Aikawa held that the case would not be heard on merit since it was filed outside the time allowed under 1999 constitution and the amended Electoral Act. He consequently dismissed the case.

the respondent is before this court. “It is unfortunate that the chief enforcer of the law is one who has deliberately refused to comply with the same law. “It is important to state that obedience to orders of court is fundamental to the good order, peace and stability of a nation. “It is a duty which every citizen, who believes in peace and stability of the Nigerian state, owes the nation and the court has a duty to commit the individual who has failed to carry out the order of the court for contempt, so as to prevent the authority and administration of law from being brought to disrespect and to protect the dignity of the court,” she said. The judge maintained that court orders were not to be obeyed at the whims and caprices of the respondent and that the rule of law was only supreme when parties, no matter the status, obey the court order. “The terms of the Orders of this Court are clear and unambigu-

ous. This court is satisfied that the respondent (presently and those before him) has had proper knowledge of the Orders of this Court, there is no denial of such knowledge and the receipt of Forms 48 and 49. “The respondent filed a counter affidavit, was duly represented in court by different counsel, who stated how they had written several legal opinions which were not attended to. “The refusal and failure of the respondent to comply with the orders of this court has been proved in this case. “The respondent in this case, the Inspector General of Police, in the person of Usman Alkali Baba, is to be committed to prison and detained in custody for a period of three month or until he has obeyed the order of this court, made on the 21st October, 2011, in all things that are to be performed, whichever period is shorter. Continues online

Kogi, China Partner on $60m Smart Security Architecture to Tackle Insecurity Chiemelie Ezeobi in Lagos and Ibrahim Oyewale in Lokoja To tackle insecurity, especially within its borders, the Kogi State government has signed a memorandum of understanding with Chinese investors for the provision of high technology security architecture. The first-of-its-kind smart technology would capture movements in and out of Kogi State from a command and control centre to decimate terrorists, bandits and other criminal elements that may want to infiltrate the state and other 11 states it shares boundaries with. According to the state government, in sealing this laudable security control deal, all stakeholders, including the Army, Department of State Services, Navy, Police and local vigilantes, among others, were carried along. The Chief Executive Officer, Kogi State Investment Promotion and Public Private Partnership Agency, Abdulkareem Siyaka, disclosed that a lot of work went into the conceptualisation and design of the project with the Chinese firm, Hytera, to eventually arrive at an investment deal that would greatly improve the state's economy while also grinding insecurity to halt in Kogi State as well as across

adjoining states. He disclosed this at the opening of a two-day interactive workshop on, "Kogi State Mission Critical Support System: A 21st century integrated smart state/security architecture," held in Abuja. He noted that the project was expected to create over 685,000 jobs, attract over N591 billion investment, yearly, while also encouraging migration to rural areas in the state. He added that a 5G licence had already been acquired by the state from the Nigerian Communications Commission. Siyaka said, "We are putting the whole state on the map, realtime, virtual, audio and visual, so as you enter Kogi State from anywhere, even though the bush, we will see you. I won't go into too much details because of the sensitivity of the architecture. But the components will be manned by a command/control centre. "The idea is that the moment you come into the state, we will see you; if you're driving, if you're walking, you have metal, if you're talking, we will be able to pick it and then if you do something wrong, we will be able to intercept you using our field personnel on the ground etc." Continues online

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NEWS

NHIS STAKEHOLDERS' INTERACTIVE FORUM... L-R: Deputy General Manager, Zonal Oﬃce, National Health Insurance Scheme (NHIS), Rita Chukwu; Medical Director, Longing Medical Hospital, Dr. Fagbemi Omoniyi; Deputy Comptroller, Nigerian Customs, Mr. Andrew Adebo Ogun; DMD, National Health Insurance Scheme (NHIS) Aisha Abubakar –Haruna; Major Gideon Ninnam Lar; Medical Director, Subre, Dr. Olayiwola Bello; and Deputy General PHOTO: SUNDAY ADIGUN Manager (NHIS), Dr. Abraham Bethuel -Kasimu at the (NHIS); Stakeholders Interactive Forum held in Lagos…. yesterday

Identity Theft: Apologise to Nigerians, PDP Counsels Tinubu Alerts of plot by APC to disrupt Ondo rally Chuks Okocha in Abuja The Atiku/Okowa Presidential Campaign Organisation of the Peoples Democratic Party (PDp), yesterday, counseled the presidential candidate of the All Progressives Congress (APC), Bola Tinubu, to apologise to Nigerians for report-

edly presenting a photograph of former Cross Rivers governor, Donald Duke, in a documentary as himself (Tinubu). This is as the party has alerted of alleged plots by the APC to orchestrate violence and disrupt its presidential rally, scheduled to hold today in Akure, Ondo State.

In a statement by one of the spokespersons of the Atiku/ Okowa Campaign Organization, Kola Ologbondiyan, the PDP campaign said Nigerians were miffed by the reported disingenuous use of Duke’s picture in the said documentary to portray Tinubu, purportedly at his young

Crisis Rocks National Hospital, Abuja Over Appointment of New CMD Onyebuchi Ezigbo in Abuja A major crisis is brewing at the nation's foremost reference hospital facility, the National Hospital in Abuja over leadership succession tussle. THISDAY investigations revealed that the likely cause of the debacle in the appointment of a new Chief Medical Director (CMD) for the hospital was the desperate move by some powerful interests to impose someone without recourse to due process. After the eight-year tenure of the erstwhile CMD, Dr. Jaf Momoh, another person, Dr. Aisha Umar took over as Acting CMD. Aisha

later left for leave of absence with Dr. Badamosi stepping in to act while she was away. When THISDAY sought an explanation from the parent ministry, the Federal Ministry of Health over the brewing crisis, a senior official who pleaded anonymity told our correspondent that the issue had attracted several petitions and that these complaints were being looked into by the ministry. "This is an internal matter. As far as I know, there have been petitions over the replacement of the CMD of the National Hospital, Abuja and the ministry is still looking into the matter," she said.

The official said the succession crisis at the National Hospital had led to several meetings being convened to try to resolve it. THISDAY gathered that one of such meetings was held last Friday, at the ministry where issues resulting from the outcome of CMD interview were examined, but not conclusively dealt with. A source at the National Hospital, Abuja, had traced the origin of the crisis to an interview conducted for a substantive CMD. He said the Minister of Health Dr. Ehanire Osagie had set up a 6-member panel to interview applicants for the CMD job.

Standard Insurance Consultants Wins ‘Broker of theYear’Award Standard Insurance Consultants Limited (SICL) has won the ‘Insurance Broker of the Year’ award at the 10th Banks and Other Financial Institutions (BAFI) Awards. The award was recently organised by BusinessDay. According to a statement yesterday, the win represented a back-to-back distinction for the company, which won the same award in 2021. “This feat has never been achieved by any other broker in 10 years of the awards,” the statement added. The award was received by the Managing Director of SICL Reinsurance Brokers Limited, Zaheed Bolaji Oladipo, who represented the Group President and CEO of the Standard Group of Companies, the parent company of SICL, Prof. Ahmed Salawudeen, “The Insurance Broker of the Year is awarded for excellence and innovation in insurance broking services utilising methods and channels best suited to client needs. “It recognises a broker that has delivered outstanding performance, and innovation without compromising prudential standards

over the coverage period. “The winning insurance broker embodies the highest values of the profession. The winner selection process began in July with an independent market survey of the top insurance brokers. “Based on the results survey results, a notification of shortlisting letter, which included a request for information, was sent to leading brokers. This was followed by an extensive review of submissions received. “Informed by the received documentation and responses, client references, and scored performance on a set of fifteen criteria, a final decision was made by the judges,” the statement added. It noted that the applied criteria included client retention; regulatory compliance; corporate governance; client proposition; digital transformation; financial performance; claims processed; staff training, development and retention; diversification of services, expertise and clients in different lines; share of domestic brokerage market; client testimonials; corporate

social responsibility initiatives; foreign partnerships; brand reputation; public education; and advocacy for the insurance broking industry. SICL received the highest scores in 10 of the above criteria. In naming SICL as the Insurance Broker of the Year, the judges’ committee noted that the company “has consistently stood out for first-rate all-round comprehensive broking services. “The company is known for the breadth and depth of its services. Its tailored approach to catering to the needs of specific client segments was a plus. Further, the decision of SICL’s board to relaunch SICL Reinsurance Brokers Limited, and hire several seasoned professionals in the last twelve months signal a view of market opportunities that flags confidence in its ability to capitalise on them.” The judges’ committee commended the winner for its “unblemished reputation in an industry where suspicion of collusion, conflict of interest, and unethical practices are not uncommon.”

age, which again confirmed the dishonesty of the APC presidential campaign and further questions the personal integrity of the APC candidate. According to Ologbondiyan, “It is instructive to note that the gale of questions and controversies surrounding the personality of the APC presidential candidate smacks of a merchandise in ‘Oluwole’ market, a Lagos Center, where anything was possible. "Such reputation is less demanding of any individual seeking to lead a nation like Nigeria with over 200 million citizens, who are in dire need of a credible, transparent, honest and truthful leader. "Our campaign believes that Asiwaju Tinubu should apologise to Nigerians for making them believe that he was the one in the said picture of former Governor Duke and using it to gain followership in the documentary that was part of his campaign materials being used to canvass for votes.

"It is not enough for the Tinubu Campaign to engage in conflicting reactions over the reportedly stolen photograph weeks after the identity theft had gained strong traction in public discourse. In fact, it stands in strong validation of allegations against the APC Presidential Candidate." Already, he said that the inability of Asiwaju Tinubu and his campaign group to adequately explain his links to the forfeiture of a whopping sum of $460,000 in a narcotic trafficking case, the reported theft of another Nigerian identity for campaign documentary amid other sundry allegations, placed huge question around the integrity of Tinubu as an individual. Also, ahead of its rally today in Akure, the PDP in a statement by its National Publicity Secretary, Debo Ologunagba, said the APC, having lost all foothold in Ondo State and dazed by the increasing popularity of the PDP and its Presidential

Candidate, Atiku Abubakar, over its deflated Candidate, Asiwaju Bola Ahmed Tinubu, has resorted to violence in a desperate bid to disrupt its rally in the state. So far, the PDP presidential rallies have been attacked in Kaduna and Maiduguri. Ologunagba said the PDP was aware of plots by the APC to import thugs from Kogi State and station them at strategic locations along roads and intersections leading to the rally venue in Akure town to attack their members and other Nigerians, similar to the dastardly acts APC perpetuated against the PDP at their Kaduna and Borno States rallies. He further said the APC leaders were reportedly bragging that APC-led Ondo State Government, had bribed commercial road transporters in the state not to provide transportation to PDP members and supporters so as to frustrate their movement to the venue of the rally.

NCAA to Travellers: Expect Flight Delays During Yuletide Aero resumes operations Chinedu Eze The Director General of the Nigerian Civil Aviation Authority (NCAA), Captain Musa Nuhu has urged air travellers to expect flight delays due to Harmattan haze as the yuletide draws nearer. He, however, commended the nation’s oldest carrier, Aero Contractors, which he said has met all standard conditions to resume operation on December 5, 2022. Nuhu explained that due to passenger surge during the yuletide, there would be high passenger traffic, noting however that at the same time, harmattan haze disrupts flights, hence the expected delays. “Flight cancellations can come from many reasons. I am not making excuses for any operator; sometimes, you have technical problem, weather and other disruptions that affect the flight schedules and sometimes, the airlines too, their planning is not the best. “So, we work with everybody. It is not just the airlines; the airlines are part of the eco-system in the airport. Whenever we have the

Yuletide, we are going to have surge in passenger traffic that may be beyond the terminal capacity. “That one also has an impact on the departure of an airline. Sometimes, the handlers are overloaded because of the loads. It will have an impact on the plan of the airline. So, we are doing our best to mitigate the challenges,” he said. The Director General explained that Aero Contractors did not have any safety challenges and passed NCAA’s audit and therefore should resume flight operations. “Aero Contractors was not grounded based on safety issues, we did an audit of them because whatever audit you do, you have findings and they were all minor findings. “There was no Level 1, 2, 3 findings. They were very insignificant. We notified them. We audited them and we found out that the issue they had was finance sustainability. “Aviation is safety sensitive and whenever you have financial difficulty, it is just a matter of time, you will not be able to comply with

all the regulatory requirements and some may start cutting corners. “So, before financial issues become safety issue, we had a discussion with them and they on their own before we took any action, agreed with our findings and suspended their operations to enable them reorganise and get some funding to get more equipment. That is what they have done. “We sat with them, they submitted, we asked for projection, which they did, we reviewed. The first one wasn’t good enough, they had to go and review it and it was quite satisfactory. “We had MoU with them for payment of outstanding 5 per cent on Ticket Sales Charge (TSC). So, they are fine. As far as we are concerned, they can resume operations,” he said. Nuhu also reiterated that Nigeria’s airspace was safe. This, he said was due to the seriousness with which the regulatory agency applies in ensuring compliance to all regulatory requirements. Continues online

WEDNESDAY, ͻ͸˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

18TH EDITION OF THE JUDGES WORKSHOP ON LEGAL ISSUES... L–R: Director, Legal and Regulatory Services, Nigerian Communications Commission (NCC), Ms Josephine Amuwa; Executive Vice Chairman/CEO, Prof. Umar Garba Danbatta; Administrator, National Judicial Institute, Hon. Justice Salisu Garba; Justice of the Supreme Court of Nigeria, Hon. Justice Kudirat Kekere-Ekun; Chairman, NCC Governing Board, Prof. Adeolu Akande, and Executive Commissioner, Stakeholder Management, NCC, Mr. Adeleke Adewolu, at the 18th Edition of the Judges Workshop on Legal Issues in Telecommunications at the Sheraton Hotels and Towers, Lagos...yesterday

Shettima: Leadership Goes Beyond Dubious Statistics Ex-Borno gov, Sanwo-Olu unveil ‘Bless Mi’ crowdfunding App Segun James In veiled reference to the presidential candidate of the Labour Party, Mr. Peter Obi, the Vice-Presidential candidate of the All Progressives Congress (APC), Senator Kashim Shettima, yesterday, said leadership was beyond reeling off dubious statistics. This is as the former Borno State governor and the Lagos State Governor, Mr Babajide Sanwo-Olu, yesterday, unveiled a crowdfunding app for the party, “Bless Mi”, saying the APC was leveraging technology to raise funds for its campaigns. Shettima said the Crowdfunding App was to enable supporters to make donations to the campaign, adding that the party was targeting some N5 Billion donation for its campaign. The duo spoke while at the unveiling ceremony, which took place at the Civic Centre, Victoria Island, Lagos. He said he and Tinubu had leadership qualities which stood them tall above other contestants, adding that, "leadership goes beyond given dubious statistics." He further commended the committee that created the app and promised that they would continue to be relevant even after the party might have won the election, adding also that the application would afford supporters of the Tinubu/ Shettima candidacy to make financial donations to the campaign. Shettima cited the United States

of America, where party faithful contributed to the campaign of the former President of the country, Barack Obama online, a development he claimed was the motivating factor for creating the platform. He added that he and Bola Ahmed Tinubu had been "overwhelmed by supporters willing to contribute their quota and now they have the platform.” His words: "Leadership goes beyond dubious statistics. It requires readiness to reach out to different

groups and recognise our adversity. We need to build a new nation. We have no business being poor. With a vision like this, everyone will be given the opportunity to contribute to the growth of our country." The former Borno State Governor said, "I bring you warm greetings from Jagaban, the most innovative politician of our time," adding that, the unveiling of the fundraiser was to carry every supporter along. "Jagaban pairing with my humble self placed us as the best bet. Undoubtedly, Jagaban

is the architect of modern Lagos. Leadership goes beyond insults and cyberbullying. Leadership requires reaching out; leadership is harnessing our diversity. We have no business being poor. I find it amusing, when people say we should reduce poverty, we have to eradicate poverty," he said. Sanwo-Olu said the application was another way of using technology to support the Tinubu and Shettima candidacy and urged Nigerians to show their 'individual commitment to the Tinubu/Shettima

campaign through their contribution. "We can use technology as ambience for us to support our presidential candidate. This is another first. There is no better idea than to use technology. It is a unique item for us to engage the people. "It is an opportunity for all of our supporters. People have been asking how they can collaborate. I want to appeal this should be our platform. Let's take it to all stakeholders. Others will want to copy, it is okay. We are innovative.

At First Meeting With Workers, Adeleke Says He’ll Be Fair to All Admit your blunders on review panels, APC tells governor Opposition parties accuse ex-ruling party of plan to set Osun on fire Yinka Kolawole in Osogbo and Udora Orizu in Abuja Osun State Governor, Senator Ademola Adeleke, yesterday, held his maiden meeting with Heads of Ministries, Departments and Agencies of government, during which he expressed commitment to run an administration that would accord fairness and justice to all sectors of the state. But the All Progressives Congress (APC) in the state, has described the setting up of various review panels by Adeleke as an afterthought

and one designed to arrive at predetermined outcomes, advising the governor to admit an error in judgment and make amends. In a related development, the Coalition of United Political Parties (CUPP), has accused the APC of ploy to set the state on fire and make it ungovernable in order to undermine the new government. However, Adeleke, while extending a hand of fellowship to the workers with a view to moving the state forward, urged the accounting officers to work assiduously in engendering a virile

civil service that could interpret well the vision and mission of the new administration. He assured the Heads of MDAs that he would run an open door policy that would be accessible to all and sundry, with a view to bridging the gap between the executive and the civil Service. Adeleke further tasked the workers on the need to maintain high level of dedication and commitment to service in their various MDAs, stressing that he would not condone any form of indiscipline or civil service infractions.

Secretary to the State Government, Hon Teslim Igbalaye, had earlier on behalf of the governor, presented the six new executive orders of government to the Heads of MDAS for immediate implementation. Permanent Secretary, Ministry of Finance, Mrs Bimpe Ogunlumade, who spoke on behalf of the accounting officers thanked Adeleke for extending his hands of fellowship to the echelon of the Osun civil service, just as she promised the cooperation of the virile civil service to the new administration.

Adoke Followed Due Process in OPL 245 Settlement, EFCC Witness Tells Court

Alex Enumah in Abuja

A witness presented by the Economic and Financial Crimes Commission (EFCC), Prof. Peter Akper, has told the FCT High Court in Abuja that a former AttorneyGeneral of the Federation (AGF) and Minister of Justice, Mr. Mohammed Bello Adoke, followed due process in the OPL 245 settlement of 2011. The former AGF is currently standing trial along with six others over allegations of conspiracy in the controversial sale of OPL 245 to Shell and Eni by Malabu Oil & Gas Limited. Mohammed Abacha claimed he owned 50 per cent of Malabu Oil & Gas Limited but that his

As they copy, we bring another innovation," Sanwo-Olu said. The Lagos State Deputy Governor, Obafemi Hamzat, reiterated the major challenges facing the Small and Medium Enterprises, (SMEs), adding the creation of the application was a demonstration of what the party would do if it won the 2023 elections. The party set up the crowdfunding committee which is chaired by Shettima while an oil and gas business magnate, Jack Rich, was the Vice Chairman.

name was fraudulently removed as a shareholder. The late Gen. Sani Abacha, his father, was the head of state when the oil block was awarded to Malabu in 1998. Adoke has always maintained that he did not do any wrong in the OPL 245 settlement and that when he was approached by Abacha over the share issue in 2011, he told him it was a shareholders’ dispute that the Office of the AGF could not interfere in and should be addressed by the board or through a civil suit. In his book, ‘Burden of Service,’ had Adoke alleged that the federal government scandalised the OPL 245 deal because President Muhammadu Buhari was unhappy that the

Abacha family did not benefit from the $1.1 billion paid to Malabu Oil & Gas Limited by the oil companies. However, in court yesterday, Akper, who served as Special Adviser to three AGFs from 2007 to 2015, was quizzed by Mr. Ufom Uket, the EFCC prosecutor, over his knowledge of the OPL 245 settlement agreement as well as what he knew about the ownership of Malabu. Akper, a professor of law at Nigerian Institute of Advanced Legal Studies (NIALS), said he served as SA to AGFs Michael Aondoaaka, Adetokunbo Kayode and Adoke and knew most of the defendants on trial. Paul Erokoro, Adoke’s lawyer,

asked Akper: “During your period of service as SA to the 1st defendant (Adoke), will you say he was a stickler to following all laws and due process?” Akper replied: “My Lord, I think that is a fair description of him.” He told the court: “In 2002, the Federal Government of Nigeria revoked Malabu Oil & Gas Ltd interest in OPL 245 and awarded the same block to Shell Ultra Deep. So, Malabu’s contention was that Shell was their Technical Partner and so it was unfair for the federal government to take their interest in OPL 245 and give to a company that was supposed to be on their side as partners. That was their contention. That was the mistrust

between the parties. “Also, because there was a subsisting arbitration between Shell and the federal government was anxious to be relieved of that contingent liability (the $2 billion claim). At the end of the day, it was necessary to get all the parties to the table so that the FG will take advantage of the desire of Malabu to sell their interest in OPL 245 to Shell to resolve three main issues. “The first being the dispute between federal government and Shell, second being the claim between Malabu and federal government to ensure that the block became operational to enable federal government derive tax, revenues and royalties from its operations.

Ogunlumade also assured him that the crop of workers in the state was endowed with great capacity to translate the vision of the new government excellently. Present at the meeting were the Deputy Governor, Kola Adewusi; the Chief of Staff, Alhaji Kazeem Akinleye; a member of the House of Representatives, representing Ede, Egbedore, Ejigbo Federal constituency, Hon Bamidele Salam; Chairman, inauguration Committee, Rev Bunmi Jenyo and Permanent Secretary, Human Resources, Capacity Building and Public Service Office, Mr Leye Aina. APC to Adeleke: Be Humble Enough to Admit Your Blunders The Osun APC, has described the setting up of various review Panels by Governor Ademola Adeleke as an afterthought and one designed to arrive at predetermined outcomes. Urging him to be humble enough to accept his blunders so far, the party also called on the governor to settle down to study the handover notes so as to prevent the blunders he was committing. Adeleke had at inauguration announced the invalidation of some of the decisions of his predecessor, Gboyega Oyetola, including the sacking of some workers and monarchs. He however promised to back it up with an Executive Order the next day, which he did. Continues online

WEDNESDAY, ͻ͸˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

PROMOTING YOUNG TALENT... L-R: Afrobeat artiste, Idris Abdulkareem; Winner of Naija Star Search, Skimzo, and Vice President, Sales, StarTimes Nigeria, Eric Xioal, at the prize presentation to the winner of the ﬁrst afrobeats Talent Hunt Show, of Naija Star Search, in Lagos…recently

Ohanaeze: Enemies Stoking Insecurity in South-East to Undermine Obi Emmanuel Ugwu-Nwogo in Umuahia

The Ohanaeze Ndigbo Worldwide, has decried the renewed killings in several parts of the Southeast zone, saying it was a grand design by enemies of the zone to stoke insecurity in order to undermine the aspiration of the presidential candidate of Labour Party (LP), Mr. Peter Obi. Secretary-General of Ohanaeze Ndigbo Worldwide, Ambassador Okey Emuchay, revealed the feeling of the apex Igbo sociocultural organisation yesterday

at the inauguration of the new executive members of the Abia State chapter of the group. He said Ohanaeze was convinced that the killings that took place at Eha-Amufu in Enugu State, last week, and the rising insecurity in Imo and Anambra States, were deliberately targeted to undermine the zone. His words: "The campaigns have started and we're facing existential challenges, because of who we are: the Igbo. The killings have started in Enugu and other parts of Southeast. They want to demarket the Southeast, that's

why insecurity has increased just, because the presidential aspiration of an Igbo man, has taken a life of its own." The Ohanaeze scribe stated that in the search for equity, justice and fairness for the Igbo in Nigeria, the organisation had robustly engaged with other parts of the country to support an Igbo to emerge the next president of Nigeria. To this end, he said the political action committee set up by Ohanaeze traversed the country and engaged with political parties, traditional rulers

and all other stakeholders, "but at the end of the day, the two major political parties overlooked Ndigbo" in the choice of their presidential candidates. Emuchay said the rest of Nigeria should not be treating Ndigbo as if they don't belong when it comes to occupying the highest office in the land and other sensitive positions. He pointed out that the South West zone was assuaged with the presidency in 1999 following the injustice done to them when the presidential election was annulled in 1993 and the presumed

winner, M.K.O Abiola, later died in unexplained circumstances. "Nigeria took a decision in 1999 and presented Olu Falae and Olusegun Obasanjo as presidential candidates and Obasanjo was chosen," he said. According to him, such deliberate political arrangement could have been applied to the Southeast in the run up to the 2023 poll if there was sincerity for Igbo inclusiveness in the Nigeria project. "The war has since ended and for equity, Justice and fairness, Nigeria should support

somebody from the Southeast to become persistent," he said, adding that, "Ohanaeze Ndigbo is not talking of Igbo presidency but a president of Nigeria from the Southeast. Earlier, the new state president of Ohanaeze Ndigbo, Abia State chapter, Comrade Okey Nwankwo, said "the Igbo have all it takes to lead the nation." He therefore, called on all Igbo sons and daughters to contribute their quota in the quest to achieve a total development of the Igbo nation in terms of human and physical development.

The president noted that through the Regional Stabilisation Strategy and its implementing components, the people of the region affected by the scourge of Boko Haram had continued to receive the support they needed towards ensuring that they effectively return to their normal homes. “You will recall that following the demise of our dear brother, H.E. Idriss Deby ITNO of Chad, in April 2021, I, under the umbrella of the Commission, convened an Extraordinary and enlarged Summit of Heads of State and Government of the region on 25thMay 2021 to review and consider the situation in Chad. This was aimed at ensuring stability and a peaceful transition in that nation. “With your support, and in execution of the decisions of the Extraordinary Summit, I have taken several measures including, appointing an accomplished diplomat, Ambassador Baba Gana Kingibe, in June 2021, as the Special Envoy of the Lake Chad Basin Commission to facilitate the transition in Chad. “Through his efforts, I have remained actively informed of the situation in Chad. Accordingly, I wish to reiterate to the government and people of the Republic of Chad, our collective commitment to actively work with them to navigate the processes of the transition in that country to a successful conclusion,’’ the president stated. Earlier in his welcome address

at the Summit, the Executive Secretary of the LCBC, Mamman Nuhu, disclosed that Nigeria had remitted a total of $209,075,748 to the funding of the MNJTF between 2015 and 2021. “I want to avail myself of this opportunity to express our deep appreciation to your Excellencies for your unwavering support to your respective MNJTF sectors, regardless of other challenges that equally demand similar support from you. “Special thanks also to the Chairman of the Summit, for his tireless support to the MNJTF, the last remittance of the sum of $10,500,000 on April 6, 2021, brought the total direct disbursement of Nigeria to the MNJTF to $209,075,748 from 2015 to 2021”, he disclosed. The event had presidents and Heads of State of the six memberstates in attendance, with the exception of President Paul Biya of Cameroon, who was represented by one of his ministers. Those who personally attended the summit were Prof. Faustine Archange TOUADERA, President of the Central African Republic; Mohamed BAZOUM, President and Head of State of Niger Republic; Patrice TALLON, President of the Republic of Benin; Mahamat Idriss Deby ITNO, President of the Transition Military Council of Chad, President of the Republic, Head of State; Mohamed AL-MENFI, Chairman, Presidential Council of Libya.

B U H A R I C A N VA S S E S T I G H T S E C U R I T Y A R O U N D B O R D E R S I N L A K E C H A D B A S I N sustaining the ongoing counterterrorism efforts by providing you with the requisite needs to function optimally. “I wish to assure you that your welfare would continue to remain our priority. I urge you all to rededicate yourselves as we take the final push towards eradicating terrorism from our Region. Together, we shall restore and transform the Lake Chad Region to its former glory. “As Chairman of the Summit of Heads of Government and State of the Lake Chad Basin Commission, I commend and thank you all for the vibrant solidarity, enhanced strong cooperation, and support we continue to share. “I equally express sincere gratitude to our partners for the support they continue to offer us in our joint collaborative efforts to fight the challenges that have hampered the sustainable development of the region, particularly climate change and terrorism. Together, we have shown that with commitment and with the desired support, we can achieve success,’’ the president said. Buhari urged the leaders to remain committed to ensuring that the diversity in the region continues to be a source of strength and a positive cohesive force for the people of the Lake Chad Region. “My dear brother-presidents, we must remain unrelenting in providing the needed political and material support for the LCBC/ MNJTF in its efforts at delivering

regional initiatives that will revamp Lake Chad and revitalise the socioeconomic activities of the region. “The fight against Boko Haram and other forms of criminality in the region must remain issues on the front burner of discourse in the region. “I thank you all for your support to me as Chairman of the Summit of Heads of State and Government of the Lake Chad Basin Commission and call on you in the spirit of true African brotherhood, to extend the same support to my successor. “I also wish to thank the Executive Secretary of the Lake Chad Basin Commission and Head of Mission of the Multinational Joint Task Force, Ambassador Mamman NUHU, and his team for their efforts at delivering on the mandate of the Commission. Keep the lofty ideals of ensuring that the people of the region optimally benefit from the resources of the region,’’ Buhari stated. The president welcomed the State of Libya to active participation in the activities of the Commission. “This is a positive step in the quest of our sister nation to rise beyond its current travails and to return to active engagements in the comity of nations. Together, we shall collectively pursue our shared objectives of joint development of the Lake Chad region,’’ he said. On his stewardship as Chairman of the LCBC, Buhari said the meeting provided a platform to holistically review collective efforts

at sustainable management of shared heritage, Lake Chad, and to reinvigorate efforts at ensuring peace and stability in the region. He said it, “equally provided an opportunity to reflect on the journey so far since 2018 when my dear brothers bestowed on me, the task of steering this unique organisation, an honour for which I am grateful. “In the last four years, the Commission and indeed the region witnessed several challenges. However, with your support, we rose to the task of addressing them. “As my mandate as Chairman of the Summit of Heads of State and Government of the Lake Chad Basin Commission comes to an end, I am proud of the great strides we continue to collectively make to ensure that we ultimately restore the Lake Chad Region to its once enviable state as a hub of economic development. “Our sustained sacrifices at restoring peace and stability to the region and enabling the people in the area to return to their normal lives and activities are highly commendable. “During the period under review, we intensified our efforts at ensuring that the drive to revitalize the Lake Chad through the Inter-Basin Water Transfer Project attracts regional and international attention. I acknowledge the concerted efforts of the Commission, in consonance with our partners, towards giving life to this laudable and all-important project.

“Progress has been made towards procuring the services of a world-class firm to conduct in-depth feasibility study on the improvement of the hydraulic capacities of the major tributaries of the Lake and to improve the retention capacity of the Lake itself. This is the first and most important step towards ensuring that the project is executed in conformity with international best practices and that the solutions we seek today are sustainable.’’ Buhari said it was heartwarming to note the various interventions that had been carried out through the Commission to complement the developmental initiatives of various governments in the region. “Initiatives such as the Lake Chad Emergency Development Program; the Program for the Rehabilitation and Strengthening of the Resilience of the SocioEcological Systems of the Lake Chad Basin; Lake Chad Region Recovery and Development Project, as well as the Regional Strategy for the Stabilization, Recovery, and Resilience of Boko Haram, affected areas of the region are worthy of mention. “The LCBC through these interventions has improved the revenue-generating capacities, resilience, and productive capabilities of the people of the region, most of whom are engaged in primary production, adding value to them, and enabling them to take control of their means of livelihood,’’ he said.

WEDNESDAY, ͻ͸˜ ͺ͸ͺͺ ˾ T H I S D AY

FOCUS

Onochie: The Amazon Destined For The Top By Idowu Ajanaku

ove or hate her persona of courage and candour, there is no denying the fact that in the leadership equation, here in Nigeria and elsewhere in every democratic dispensation, loyalty and commitment to service pay. Those factors come of course, with character, hard work and being passionate to a cause one firmly believes in. That may perhaps, explain why the name, Lauretta Onochie sends shivers down the spine of her traducers, all because she has stood solid and strong with her abiding loyalty to the President Muhammadu Buhari’s cause to promote integrity, quality service delivery and gender equity especially in the political spectrum. In essence, that would also explain why the leadership of Project Niger Delta, PND, has commended President Muhammadu Buhari for heeding the calls of the good people of the Niger Delta. That is precisely so in the recent nomination of men and women of proven integrity to constitute the substantive board of the controversy-riddled Niger Delta Development Commission, NDDC. Good enough, this falls in tandem with the Act setting up the Commission – Niger Delta Development Commission (Establishment etc.) Act 6 of 2000 as part of the Laws of the Federation of Nigeria. It would be noted that in spite of the barrage of verbal attacks that have trailed her commitment to sanitizing the New Media, which she has been spearheading as the Senior Special Assistant to Mister President she has remained resolute. She has therefore, acted as a beacon bearer against the dark background of unproven innuendoes and insinuations, even from some of her own Niger Delta people. On the other hand, some others, like members of PND recognize her worth. What that implies or the point it proves is that President Buhari has made this rare appointment beyond loyalty, to competence. The confidence he has exhibited in Onochie, the graduate of Harvard University, University of Greenwich, University of Benin, University of Calabar, will surely go a long way for her to prove her mettle again. In fact, as the PND group rightly noted, the inauguration of the substantive board of the commission was long overdue. Onochie’s appointment has therefore, revived the hopes of the people of the oil-rich region that the lost glory of the commission will be restored under her able watch. Interestingly, Onochie, once approved by the Senate is coming as the fifth chairman of the board of the Niger Delta Development Commission (NDDC) and the first woman to do so. That is history in the making. Her appointment is coming some three years after the last chairman of the board, Senator Victor Ndoma-Egba, was dropped by the president on January 25, 2019. The senator was appointed in 2016. It is also on record that Onochie was a national commissioner nominee of the Independent National Electoral Commission (INEC) but was rejected

Lauretta Onochie because her state, Delta had already produced a commissioner in the electoral body. In retrospect, the NDDC was established in 2000 by the administration of former President Olusegun Obasanjo, to fast track the development of the oil rich Niger Delta region. The past chairmen of the NDDC board were Chief Onyema Ugochukwu from Abia State and Air vice Marshal Larry Koinyan (rtd) from Bayelsa as well as Senators Ewa Henshaw and Victor Ndoma-Egba, all from

Cross River State. In a letter addressed to the Senate President, Ahmad Lawan, Buhari also announced the nomination of 15 others as NDDC board members. It would be recalled that in September 2008, President Umaru Yar’Adua (of blessed memory) announced the formation of a Niger Delta Affairs Ministry. The Niger Delta Development Commission (NDDC) became a parastatal under the ministry. One of the statutory functions of the

commission is for human capacity development- to train and educate the youths of the Niger Delta region. The objective is to curb militancy and the attendant destruction of lives and property, while also developing important infrastructure to promote diversification and productivity of the region’s economy. Similar to PND, the Movement for the Survival of the Izon Ethnic Nationality in the Niger Delta (MOSIEND) has praised the decision of President Muhammadu Buhari to appoint Lauretta Onochie as chairman of the NDDC board. Also appointed as acting executive director, Finance and Administration of NDDC is Chris Amadi, while Samuel Adjogbe, an engineer, becomes acting executive director, projects. According to MOSIEND president, Kennedy Tonjo West, because Onochie has worked closely with Buhari, he has no doubt that Onochie will implement the president’s vision for the Niger Delta. West said: “I think this is the first time we are having a woman as chairman of the board. It is a novel idea. But first, she is an SA (special assistant) to the President and she is doing her job. And the kind of job as an SA, she will definitely do what her boss says. “If you have put that as a yardstick, then, I am quite sure that was what had endeared her to her boss for being thorough and resolute when it comes to her job. “Coming back as a chairman, she is a Niger Deltan, she has equal right like every other person that should be nominated. I think the National Assembly should expedite action in giving her the pass to come and serve.” In a similar vein, the National Coordinator of PND, Comrade Princewill Ebebi in a statement in Yenagoa, the group is convinced that with Lauretta Onochie and Chief Samuel Ogbuku as Chairman and Managing Director respectively, the narratives of the board will change for good. Ebebi said: “We believed that having duo as the Chairman and Managing Director, the Niger Delta will witness the needed transformation especially now that the pains and agonies running through the heart of people after the calamitous flood disaster that has destroyed the livelihood of the people. “We charge them to bring their wealth of knowledge to bear in the lives of our people and change the narrative of the current dwindling status of the oil-rich region. We congratulate Mrs. Lauretta Onochie and Chief Dr Samuel Ogbuku and others for their well-deserved appointment to move the Niger Delta forward”. Though some may view her current nomination for the NDDC headship as a form of compensation for her travails since she was turned down by the Senate for the INEC job, people should not lose sight of the fact that had she betrayed the cause she stood by, the pendulum of the appointment would have swung otherwise. That reminds us of Benjamin Disraeli’s statement that: “The secret of success is constancy of purpose”. *Ajanaku, a journalist writes from Lagos.

NEWS

Stakeholders Fault Removal of HIV Management from NHIA’s Primary Care Service Delivery Scheme Oluchi Chibuzor Participants at an engagement forum organised by the National Health Insurance Authority (NHIA) have expressed concern with the removal of Human immunodeficiency virus and Acquired Immunodeficiency Syndrome (HIV/AIDS) management from primary healthcare level of services obtainable for enrollees in the NHIA’s scheme. This was as global donor agencies continued to withdraw funding for HIV/AIDS management in the country, Speaking at an interactive

stakeholders’ forum held in Lagos, the Deputy General Manager, NHIA Ikeja State Office, Mrs. Aisha Abubarka-Haruna, acknowledged that the forum would enable all stakeholders to address areas that must be addressed to increase quality access to healthcare in the country. According to her, in the NHIA’s Group, Individual and Family Social Health Insurance Programme (GIFSHIP) scheme, it was mandatory for service providers, HMO and the NHIA to ensure that no enrollee suffers any point of contact within the process of seeking quality access

to healthcare in the country. He warned that they remain resolute to delish any stakeholder found to be jeopardising the federal government’s efforts to enlist all Nigerians to the net of the NHIA. Meanwhile, responding to questions from the enrollees she noted that according to the NHIA Act, “subscribed enrollees has the right to change their primary healthcare provider once it has closed down, relocated or been delisted by the Authority. “Right to change your primary healthcare provider once you have been transferred to

another location. Right to choose an alternative primary healthcare provider for dependents if they are living in a different location.” From the presentation titled, ‘The Authority’s Operational Modalities: Enrollees’ Perspective,’ it noted that HIV/AIDS management can now be obtained from the secondary level of healthcare services delivery in the NHIA benefit packages. However, responding to this and its implication, a Medical Doctor with the Gbagada General Hospital, Dr. Abideen Gbolahun, urged the NHIA to reconsider introducing HIV/AIDS manage-

ment back to primary level of healthcare service delivery to its enrollees. “The implication is that there is going to be an enrollment gap and that primary healthcare point serves as an opportunity for us to enroll patients. If you turn them back, they will not come back because they already feel unwanted. “The implication is that we are going to see a spike, as it is right now we should seize every opportunity to enroll more of them to come into the system. “ On the recent NHIA partner-

ship with Roche, he observed that the programme would have been beneficial if it was located across each state of the federation. “We are talking about seven centers to cover the entire nation. If I pick a patience in Lagos, I will have to travel all the way to Ibadan. “That is a lot of burden on the patient both financially and logistically. I would have preferred a situation where every state will have a center with a coordinating center or regional. But now you devolve both responsibilities to various teaching hospitals,” he said.

WEDNESDAY NOVEMBER 30, 2022 ˾ T H I S D AY

NEWS

DISCUSSING COLLABORATION STRATEGIES….

L-R:The Governor of Ekiti State , Mr. Biodun Oyebanji , Chairman , Greenwich Merchant Bank , Mr Kayode Falowo , and Chief Executive Officer, Greenwich Merchant Bank, Mr. Bayo Rotimi , at an interactive session in Lagos…recently

Gunmen Kill Labour Party Women Leader in Kaduna John ShiklaminKaduna

The women leader of the Labour Party (LP) in Kaura Local Government Area of Kaduna State, Mrs. Victoria Chintex has been killed by unknown gunmen. The Publicity Secretary of the LP in Southern Kaduna Senatorial Zone, Edward Buju, in a statement said the incident occurred on Monday, when the gunmen invaded her residence

in Kaura and shot her. Her husband was also said to have sustained injuries from gun shots and was rushed to a medical facility where he is said to be receiving treatment. Buju commiserated with the family of the deceased and assured them that party will support them. “The Southern Kaduna (Zone 3) Labour Party, commiserate with the party chairman and his exco’s

Kwara SDP Guber Candidate Promises Not to Betray Party Hammed Shittu in Ilorin The gubernatorial candidate of the Social Democratic Party (SDP) in Kwara State for 2023 elections, Alhaji Hakeem Oladimeji Lawal, has said he has no plan to trade away his chance in a deal with other political parties in the next elections in the state. He, however, said he is in the race for 2023 elections to win and bring much expected socio-economic growth to the rural populace of the state. Lawal made the remarks in Ajase-Ipo, venue of the flag-off of the Kwara South senatorial campaign for all the candidates in the senatorial district explained that the speculations about the negotiation to trade the SDP mandate with other

parties “is a figment of the imagination from a sinking party which is desperate to remain afloat.” He added: “The SDP is the most credible alternative political party in the state that has got the mass of the people and God behind it as a pillar of support. ”We are not negotiating and will not negotiate to trade away our mandate and the support of the people. The people and God remain our pillar of support, and we are confident of victory in the coming election.” The gubernatorial candidate, therefore, urged the people to get ready and use their votes to sweep away bad government and governance in the state, adding that the SDP is sure of victory in the three senatorial districts of the state.

‘COVID-19 Led to 80% Decline in Leading Disease Areas Uptake’ Kate Ejisu The Team Leader, Association of Civil Society on Malaria Immunisation and Nutrition (ACOMIN), Bunmi Tejumola, has revealed that the impact of the COVID-19 witnessed across all disease areas led to a 70-80 per cent decline in service uptake. Tejumola, who disclosed this at a media briefing in Lagos organised by ACOMIN said the national Tuberculosis programme also recorded a 30 per cent reduction in geneXpert testing in the first weeks of COVID-19 lockdown during the first wave. She said in the same vein routine malaria diagnosis and treatment access were disrupted, and the implementation of the Malaria Indicator Survey (MIS) and the Therapeutic Efficacy Studies (TES) were also halted.

She remarked that the impact of COVID-19 on HIV, Tuberculosis, or malaria could be minimised by maintaining these core services. Tejumola further explained that a recent report from Global Fund highlighted the urgent need to scale up adaptive measures to continue HIV, TB and malaria services, to ramp up delivery of critical supplies for the COVID-19 response and prevent healthcare system from collapse. According to her, “As part of a national effort to address the challenges in Nigeria, ACOMIN alongside NEPWHAN and TB Network have been engaged by NACA under the ongoing Global Fund (GF) COVID-19 RM/ RSSH Grant to implement the civil society component.”

in Kaura Local government area, over the untimely demised of our Mother and Sister, Mrs Victoria Chintex, Woman leader, Kaura Local government who killed yesterday (Monday) by some unknown gun men in her resident in Kaura,” he said.

Buju, who described the deceased as “industrious, hard working and dedicated party leader”, said the LP is saddened by the unfortunate incident, coming at a time when people like her are needed to champion the course for a new nation through the LP.

He called on members of the LP at all levels in the state to pray for the repose of her soul. “More so as we awaits the burial plans by the family, the Zone 3 LP will make support to her family. On behalf of our Presidential candidate, Peter Obi,

our gubernatorial candidate in Kaduna State, Jonathan Asake, the party senatorial candidate for Southern Kaduna Senatorial zone, Mike Auta, we call on the people of Kaura LGA, to be law abiding as vengeance is of the Lord...” Buju said.

‘Security, Respect for Royalty Top Priorities for Oyebanji’ Victor Ogunje in Ado Ekiti Ekiti State Deputy Governor, Chief (Mrs) Monisade Afuye, has declared that ensuring security across all Ekiti towns and maintaining high respect for traditional institution, remain two cardinal focus of the Biodun Oyebanji -led government. The deputy governor applauded the Ekiti monarchs for maintaining neutrality during the last governorship election,

saying this had further buoyed the respect and confidence reposed in them by the current government. Afuye said this in Ado Ekiti, yesterday during an interface with the Ekiti State Council of Traditional Rulers. She said Governor Oyebanji was not oblivious of the myriad of insecurity crises being experienced in some towns and villages, assuring them that government will partner

with them to ensure that all these noticeable threats abate. The Ekiti number two citizen added that Oyebanji had released adequate funds to complete the Traditional Council Chambers under construction, while other issues bothering on their welfare would be tackled in record time to underscore the enormous respect the government accords royalty. She said:”I wish to commend your Royal Majesties for your support and exceptional

contributions toward maintaining peace and stability in your various domains. I sincerely appreciate the neutrality shown by our revered Royal Fathers during the last election. I thank you for ensuring peace in the state before, during and after the election. “Let me assure all our Traditional Rulers that the State Government under Governor Biodun Oyebanji, will accord high priority to the welfare of your Royal Majesties.”

One Year after, Oromoni Calls for Prosecution of His Child’s Killers Sylvester Idowu inWarri Father of late Sylvester Oromoni (Jnr), a former student of Dowen College, Lekki, Lagos State who died as a result of bullying, assault, negligence and administration of poisonous substance, Mr. Sylvester Oromoni yesterday lamented failure of the state government to prosecute the culprits one year after the incident.

According to a statement issued yesterday and titled “Late Sylvester Oromoni Jnr: No Justice Foe The Deceased And Family After One Year”, the father of the deceased recalled how Lagos State Government ordered a coroner inquest to unravel the cause of death of his son on January 21 this year but ‘it is yet to be concluded’. He further recalled that a Legal Advice earlier issued by

the Office of the Director of Public Prosecution, Ministry of Justice, Lagos State indicted Dowen College and some of its staff and recommended them for prosecution under Section 252 of the Criminal Law (C17) Vol. 3 Laws of Lagos State 2015 but that those indicted were still working freely while the body of the deceased continued to lie in the morgue.

“With the effort of the Honourable Coroner and the cooperation of several parents particularly the parents of the two witnesses who came from Abuja to testify on the 14th November, 2022, the Coroner thereafter adjourned proceedings to 21st November 2022 for Dowen College to produce the two remaining witnesses from the school.

NDLEA Smashes Drug Ring Controlled by Two Brothers Michael Olugbode in Abuja Operatives of the National Drug Law Enforcement Agency (NDLEA) has nabbed one of the two notorious drug dealing brothers that are major drug dealers in South-east and South-south, who they have been tracking for the last nine years. A press statement yesterday by the spokesman of the antinarcotics agency, Femi Babafemi,

said that one of two brothers, who serve as major sources of illicit drug supplies in South-east and South -south parts of the country, Onyeaghalachi Stephen Nwagwugwu, has been arrested by NDLEA after nine years of being on the run. Babafemi added that the elder brother, Eze Kaleb Stephen, who is also wanted, narrowly escaped during the overnight operation carried out simultaneously in

their two locations: Umuahia and Ntigha Okpuola community in Isiala Ngwa North Local Government Area of Abia state. He said investigations showed that the two notorious brothers began a career in the illicit drug business since the late 90s when they started as pocket dealers before they later established smoking joints/bunks in their community, Ntigha Okpuola and subsequently grew to become

barons; owning hotels, houses in choice areas of Abia, Rivers and Imo States with exotic cars in their homes. Babafemi revealed that the NDLEA has been on their trail since 2013 when they organized a mob attack on some of the agency’s operatives who attempted to apprehend them during a raid, lamenting that at least, one of the officers attacked then is still bedridden till date.

CSOs Raise the Alarm of an Epidemic Outbreak as A’Ibom Ranks High in Open Defecation Okon Bassey in Uyo

A coalition of Civil Society Organisations (CSOs) led by the United States Agency for International Development (USAID) and African Human Development Centre (AHDC), has expressed fears of an outbreak of epidemic in Akwa Ibom State due to open defecation. The CSOs at a-day symposium

held in Uyo, the Akwa Ibom state capital said the condition could trigger serious health challenges amongst the about 7.2 million population of the state. They noted that out of the 31 Local Government Areas, only one (Nsit Atai) has been certified and given Open Defecation Free (ODF) status.ex-raying the challenges hampering effective implementation of the Water Sanitation and Hyegene (WASH) policy in the state,

they blamed poor funding of the the sector, due to Governor Udom Emmanuel’s inability to append his signature to the Water Resources Bill passed by the House of Assembly since July 19, 2022. Chief Executive Officer (CEO) in - charge of AHDC, Prof Gabriel Umoh, who doubles as the Executive Director, IbomWASH, in a communique at the end of the conference, lamented poor funding and

inadequate attention paid to sanitation programmes in the state, noting that the population lives in clear and present danger of being attacked by epidemic. He noted the abysmal yearly percentages of budgetary allocations for WASH to include 6.06 in 2019, 3.83 in 2020 and 3.11 in 2021, lamenting that “in most cases, such cash had not been released for the implementation of the WASH policy in the state.”

WEDNESDAY NOVEMBER 30, 2022 ˾ T H I S D AY

NEWSXTRA

CREATING AWARENESS ON HIV/AIDS ...

L-R: National Programme Officer, UNAIDS, Dr.Temitope Fadiya; Chief Executive Officer, Lagos State Aids Control Agency (LSACA), Dr. Mosurat Adeleke;Coordinator, Association ofWomen Living with HIVand AIDS in Nigeria (ASWHAN), Lagos State Chapter, Kadiri Olusiyi; and State Coordinator, Network of People Living with HIV and AIDS in Nigeria (NEPWHAN), Mr. Patrick Akpan, at the 2022 World AIDS Day press briefing in Lagos… yesterday ETOP UKUTT

Eko Disco Laments Loss of over N1.2bn to Vandalism, Cable Theft Peter Uzoho Eko Electricity Distribution Company (EKEDC) has expressed worry over its loss of over N1.2 billion of its assets and electrical installations to vandalism alone in 2022. The General Manager,

Corporate Communications, EKEDC, Mr. Godwin Idemudia, disclosed this yesterday in a statement, saying the company was being challenged by frequent cases of vandalism on its network in spite of the campaign against it. He said vandalism was posing a serious threat to EKEDC’s

distribution infrastructure, especially electricity cables. Idemudia said, “Today, I want to bring to the attention of the public; the spate of vandalism within our network is alarming and condemnable. “These cases of vandalism have contributed in no small measure to prolonged outages in our network, leading to disruptions of

many businesses, maiming/injury, and loss of lives, particularly of innocent and unsuspecting members of the public. “We have witnessed series of incidents, and from our estimate, we have lost about N1.2 billion in 2022 alone to theft of underground armoured cables that are resold in the black market. “Eko Disco’s operations are

carried out only by our authorised staff and operatives who can be easily identified with the EKEDC branded coveralls and jackets.” He, therefore, called on customers, security agencies, media and the public to be vigilant and assist in the fight against vandalism on the company’s network to put an end to the incessant acts of

vandalism. He appealed to the public to report shady deals or any person(s) posing as staff of Eko Disco to the security agencies or contact the company through its various whistleblower channels. “These challenges have adversely affected the supply of power to our customers,” he said.

The governorship candidate of the Peoples Democratic Party (PDP) in Enugu State, Dr. Peter Mbah. has outlined the strategies he would deploy to address the growing insecurity in the state. Speaking in Awgu yesterday, where he met with Catholic priests and other religious, Mbah said although security issue was nationwide, his government, if elected in 2023, would decisively checkmate the hydra-headed problem of insecurity through some strategic steps he had already mapped out. He disclosed that security and infrastructure are at the core of everything he had proposed in his manifesto, stressing that it’s only when there’s security that investors will be attracted to the state to establish their businesses and industries. Assuring that the challenge of insecurity would be a thing of history, Mbah said his intervention

area was three-pronged, including an integrated programmes to accelerate youth employment and end poverty, integrated rural development programmes, and kinetic and non-kinetic approaches. The governorship hopeful further noted that youth unemployment and poverty have been established to be two major factors engendering insecurity in the country, adding that the development economic plans by his administration would create thousands of jobs that will end unrest and agitation among the youths. He harped on his resolve to exploit the dormant resources in the state to create more jobs for the citizens by turning them to productive assets that would engage the youths and make them useful to the society. While assessing the possibility of creating over 400,000 jobs in each senatorial zone in the state through the agriculture sector, Mbah

maintained that the hideouts of criminals in the state would be cleared and designated as special economic zones for commercial farming. On how he would adopt the kinetic approach, the business magnate stated that his administration would strengthen intelligence gathering, employ modern technology such as the CCTV and drones for surveillance, training and retraining of security personnel and collaborate with communities to enhance community policing. This, he said, would enable investors find the state attractive for investment, and restore the confidence of farmers to go back to work without fear of molestation. Mbah, who further spoke on other issues, promised that his administration would speed up efforts to grow the economy seven-fold by migrating it from its current $4.4 billion to $30 billion

by making it one of the top three states in the country. He promised to achieve a zero per cent hunger in the state within eight years of his administration through integrated rural development programmes, cross-cutting programmes, technical and vocational training centres, availability of 100 billion naira revolving capital for start-up investors, provisions of basic amenities and other incentives. Assessing Mbah’s presentation, the Bishop of the Diocese, His Lordship John Okoye, commended his manifesto, which they’d previously gone through, as comprehensive, convincing and assuring, saying he had their support because of his good intentions for the state. He recalled how the governorship candidate had been going about feeding the poor, building stateof-the-art hospital, engendering development and touching lives even with his personal resources.

Ekiti Assembly Lifts Suspension on Pro-Aribisogan Lawmakers Enugu PDP Guber Candidate, Mbah, Vows to Address Insecurity if Elected

Victor Ogunje in Ado Ekiti

Ekiti State House of Assembly, has reinstated three more lawmakers suspended for being antagonistic of the resolve that the current Speaker of the House, Hon Bummi Adelugba, should be the preferred leader of the House. This was sequel to the reading of their apology letters to the assembly by the Speaker of the House, Hon. Adelugba, at the plenary on Tuesday. The lawmakers were among the seven slammed with indefinite suspension last week

following their open display of loyalty to the impeached Speaker, Gboyega Aribisogan. A statement yesterday by the Chairman, House Committee on Media and Publicity, Hon. Adeoye Aribasoye, said those pardoned were Yemisi Ayokunle, Ajibade Raphael and Tope Ogunleye. The assembly had earlier pardoned Kemi Balogun representing Ado constituency 2. With the present situation, the number of lawmaker backing Aribisogan had slumped to two from the initial seven.

Buhari Mourns Paul Unongo Deji Elumoye inAbuja and George Okoh inMakurdi President Muhammadu Buhari has mourned the demise of Second Republic Minister, Dr. Paul Unongo, saying the country has lost an elder statesman. President Buhari, in a tribute yesterday, acknowledged the close relationship he had with the deceased, adding that “in all the positions he held as a politician and public officer, he displayed a high level of decorum. “He was a colossus in public life, very articulate and witty. He

served his community and the nation extremely well. My deepest condolences to the bereaved family, and the government and people of Benue State.” A former Chairman of the Northern Elders Forum and the country’s Minister of Steel Development during the Second Republic, Dr Unongo had held several political positions and was involved in constitutional conferences. Until his death, the late Unongo was Chairman of the Board of the Nigerian Educational Research and Development Council (NERDC).

Group Calls for Tougher Sanctions for Sexual, Gender-Based Violence

Fidelis David in Akure

A pro-women group, BAOBAB, yesterday advocated the need for tougher sanctions against Sexual and Gender-Based Violence (SGBV) and a more people-centred and fact-based reportage of SGBV. The Executive Director of BAOBAB, Bunmi Dipo-Salami, who made the call at a training workshop for journalists on leadership and gender-responsive reporting of sexual violence, held in Akure Ondo State, said the training was part of the activities

marking the 16 Days of activism against Gender-Based Violence, with the theme: “Let’s Unite to End the War on Women’s Bodies.” According to her, the training workshop, which was organised in partnership with Ondo State Agency Against Gender-Based violence (OSSA-GBV) and the African Women’s Development Fund, (AWDF) was designed to recognise the role of media as a powerful agent of social change in Nigeria and critical for bringing women’s rights issues to the front-burner, galvanising actions and support for justice.

Rivers Electorateagree Yetto to Decide Who to Vote President, Says Wike whoever he chooses as the Peoples Democratic Party come and vote for them. Very Blessing Ibunge in Port Harcourt

Rivers State governor, Nyesom Wike has said the decision on who to vote for among the presidential candidates in the 2023 general elections was yet to be taken by the electorates in the state who are his supporters. Wike who boasted that Rivers people were very happy with his developmental strides across the state said his supporters would

the preferred candidate. The Rivers State Governor stated this yesterday, while inaugurating the RukpokwuRumuapu-Izo-Ogbodo Igwuruta Link Road, in Rumuapu community in Obio-Akpor Local Government Area of the state. The governor said for what his administration had done in terms of performance and provision of critical infrastructure, Rivers people were already home with

(PDP). He, then charged the electorates to cast their votes only for PDP gubernatorial candidate as well National Assembly to State Assembly candidates. “Then the other one (presidential), I will come and tell you where we will vote. These ones (governorship, Senatorial, Reps and State Assembly candidates) I mentioned now, make sure you

soon, we’ll meet in our houses and a take decision where we are going to,” he said. Wike mocked governorship candidates of other parties in the state, saying they were not in touch with the people at the grassroots. According to him, the candidates, he stated, do not also have any following, no traditional or political opinion leaders who could help galvanise the support of the electorates for them.

Ikpeazu Warns Criminals to Stay Away from Abia He appreciated the service The governor while recalling agencies has yielded positive

The Governor of Abia State , Dr Okezie Ikpeazu, yesterday said his administration places the highest premium on security of lives and property since it is the bedrock of sustainable development. Ikpeazu stated this at the inauguration of the new Eastern Ngwa Divisional Police Headquarters Building Umuobiakwa,Obingwa LGA by the built by the Inspector General of Police, Usman Alkali Baba.

commanders of the various security services in the State for their cooperation and hard work, stressing that criminals will no longer find any hiding place in the state. Governor Ikpeazu also commended officers and men of the Nigerian police for their selfless service and charged the IG to continue to encourage them for optimal performance.

that his administration completed and handed over the brand new Zone 9 Police Headquarters Umuahia to the Nigerian Police assured the people the state would continue to provide logistics to security agencies to enable them discharge their duties effectively. The governor disclosed that the cordial working relationship between government and security

results, adding that the prevailing peace in the state is attributable to the robust working relationship with all security agencies in the state. Speaking while inaugurating the police headquarters, the IG who described the station of being up to international standard, noted that it is furnished with 24 hours power which will aide the job of the police.

WEDNESDAY, ͻ͸˜ ͺ͸ͺͺ ˾ T H I S D AY

WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

Chelsea central defender, Kalidou Koulibaly's nerveless volley fired Senegal into the Last 16 stage of the 2022 World Cup here in Qatar for the second time in their football history as they defeated Ecuador 2-1 inside the Khalifa International Stadium.

The Senegalese are the first African team to reach the knock out stage here at Qatar 2022. Victory for the Teranga Lions brought tears to the South Americans who until the match were second behind the Netherlands in their Group A

NFF Celebrates Kunle Solaja as He is Honoured at FIFA W’Cup in Qatar The Nigeria Football Federation (NFF), has congratulated foremost journalist, prolific author and respected diarist, Mr. Kunle Solaja on the occasion of his being honoured by world football -governing body, FIFA in Doha, Qatar on Tuesday. Alongside 81 other journalists of repute who have attended and reported at nearly a score of the quadrennial global football fiesta and other glamour tournaments, Solaja, a former Sports Editor of Concord Newspapers and the Guardian Newspapers, was awarded a certificate of achievement and a replica of the World Cup trophy, presented by Brazilian legend Ronaldo.

Kunle Solaja with his certiﬁcate of achievement and replica of FIFA World Cup in Doha... yesterday

Solaja, presently the chief executive of online sports publication, www.sportsvillagesquare.com, was one of only two Africans on the list, the other being South African Mark Gleeson. “Today, we are proud to congratulate and celebrate one of our own, Mr. Kunle Solaja, for the honour bestowed on him by FIFA. To attend 10 FIFA World Cup finals is not a joke. Mr. Solaja is a man competent, diligent and passionate about his trade, and we join FIFA to celebrate him as an illustrious servant of the beautiful game,” NFF General Secretary, Dr. Mohammed Sanusi, said in Abuja. The certificate of achievement was jointly signed by FIFA President Gianni Infantino and President of AIPS (the global umbrella body for sports writers), Gianni Merlo. Star of the simple but memorable ceremony was 88-year-old Enrique Macaya Márquez, an Argentine freelancer who is covering his 17th FIFA World Cup in Qatar, and whose tally is one more than Uruguayan Diego Lucero, who before his death in 1995, had covered every FIFA World Cup tournament between 1930 and 1994. Solaja’s illustrious odyssey began in 1986 in Mexico, and he has since attended the World Cup finals in Italy in 1990, USA in 1994, France in 1998, Korea/Japan in 2002, Germany in 2006, South Africa in 2010, Brazil in 2014 and Russia in 2018, before the ongoing finals in Qatar.

standing. All three goals came from players based in England as Ecuador's Brighton midfielder Moises Caicedo cancelled out a penalty by Watford's Ismaila Sarr before Koulibaly's side-footer won it for Senegal. Ecuador needed just a point to progress but paid the price for a passive display as Senegal were spurred on by an almost non-stop cacophony of drumming from their supporters in Al Rayyan. Watford winger Sarr coolly stroked home from the spot, after being clumsily upended by Ecuador defender Piero Hincapie, to put the African champions deservedly ahead. Ecuador levelled with their first real chance as Caicedo swept home Felix Torres' flick-on but Koulibaly's composed finish immediately regained the lead for

DURO IKHAZUAGBE Reporting live

Senegal, who knew only victory would be enough to go through barring an unlikely Qatar upset against the Netherlands. They held out amid a nervy six minutes of stoppage time to