TUESDAY 5TH DECEMBER 2023 by THISDAY Newspapers Ltd

Nigeria Records N1.88 Trillion Trade Surplus in Third Quarter Petroleum products account for N8.54tn of N10.35tn exports

James Emejo in Abuja

Nigeria’s total external merchandise trade increased to N18.80 trillion in

the third quarter of the year (Q3 2023), with exports accounting for

N10.35 trillion, the National Bureau of Statistics (NBS) disclosed yesterday.

Spain is major trading partner Total imports stood at N8.46 trillion, creating a trade surplus

Continued on page 24

NLC: Next Minimum Wage Will Be Based on Cost of Living... Page 5 Tuesday 05 December, 2023 Vol 28. No 10464. Price: N250

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Olukayode: EFCC Undergoing Total Overhaul, Must Change Its Modus Operandi... Page 27

Kaduna Govt: Army Has Taken Responsibility for Community Bombing We weren’t involved, air force absolves self Sani wants accidental killings investigated, Abbas mourns

Kingsley Nwezeh and Adedayo Akinwale in Abuja

The Kaduna State Government,

yesterday, stated that the Nigerian Army, had claimed responsibility for the bombing of villagers during a Maulud Nabiy celebration at Tudun

Biriin in Igabi Local Government Area of the state, and subsequently apologised for what they described as an accident.

But the Nigerian Air Force, has denied any involvement in the bombing, which reportedly killed many people with unconfirmed

reports claiming as many as 80 persons might have lost their lives. This, nonetheless, the Kaduna State Governor, Uba Sani, has called

for thorough investigations into the alleged “accidental killings”. Continued on page 24

Information Minister: FG Sponsored Only 422 Nigerian Delegates to COP28 Summit Says Tinubu, other government officials are in Dubai for serious business, not jamboree Obaseki: Why I decided to attend the conference virtually from Benin

Story on page 24

At the residential week of AIG Public Leaders Programme class of 2023/24....

Aigboje Aig-Imoukhuede CFR, Chairman, Aig-Imoukhuede Foundation; Ofovwe Aig-Imoukhuede, Executive Vice-Chair, Aig-Imoukhuede Foundation; Professor Chris Stone, Professor at the Blavatnik School of Government, University of Oxford; programme faculty and participants at the residential week of the AIG Public Leaders Programme Class of 2023/24

Emefiele: Nigerians in US Raise the Alarm Over Alleged Human Rights Violation by Tinubu's Govt ... Page 24

TUESDAY DECEMBER 5, 2023 • T H I S D AY

T H I S D AY • TUESDAY, DECEMBER 05, 2023

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

NEWS

Signing MoU on bilateral trade and investment...

Governor of Lagos State, Mr. Babajide Sanwo-Olu with Chairman of Nigerian-Arabian Gulf Chamber of Commerce (NAGCC), Sheikh Abdul Rahman Saif Bin Saif Al Sharqi, signing Memorandum of Understanding (MoU) on bilateral trade and investment forum between Lagos and NAGCC member countries, at the JAFZA One Convention Centre in Dubai, United Arab Emirates (UAE), last Sunday

NLC: Next Minimum Wage Will Be Based on Cost of Living Says life now unbearable for workers

Onyebuchi Ezigbo in Abuja Amidst rising cost of goods and services in the country, the Nigeria Labour Congress (NLC) has said it would ensure that the next national minimum wage to be negotiated in 2024 reflects the prevailing cost of living. It lamented that following the removal of fuel subsidy by the federal government, life has become extremely unbearable for workers. Addressing participants at the opening of the 19th edition of the NLC's Harmattan School holding in Abuja, President of the NLC, Joe Ajaero, said it had become necessary for governments at all levels to recognise that life and living conditions were exceedingly difficult, especially for working people in both the formal and informal sectors of the economy. He said removal of subsidy on petroleum products further exacerbated challenges faced by working people, unleashing severe pain and contributing to galloping inflation and increasing inequality and poverty. "We must reckon that a wellmotivated and well-remunerated workforce has a positive impact on productivity and national development. "As we anticipate the commencement of negotiations for the national

minimum wage in 2024, we seek the understanding of all stakeholders to ensure that we use this opportunity to arrive at a minimum wage commensurate with the prevailing cost of living," he said. Ajaero, who was represented by Deputy President of the NLC, Benjamin Anthony, said the ultimate goal of negotiating a new minimum wage was to establish a living wage that covers the cost of living and make allowance for some savings by the workers. He noted that since the adoption of the Structural Adjustment Programme (SAP) in the mid-1980s and subsequent wholesale adoption of neoliberal economy framework, there had been a sustained disruption of the social pillars of society and cut on public spending on the provision of social services. According to him, the series of austerity measures adopted by government have, "significantly impacted on the quality of life of workers, peasants and the poor, thus creating an urgent need for collaboration with broad segment of the society to form a formidable force for sustained policy engagement with the governments at all levels." The NLC president also spoke on the face-off between organised labour and the Imo state government.

According to him, as far as the Congress was concerned: "the thing that can assuage its pains is for the Imo State Government to address all labour issues and return the so called ‘ghost workers’ to their jobs, pay all outstanding salaries and pensions and call back all victimised workers to their jobs" On his part, NLC General Secretary, Emma Ugboaja, said the situation was becoming highly unbearable for the workers and indeed most Nigerians. Ugboaja added: "Up till now the federal workers are yet to receive their November salaries and that means

The President of the African ExportImport Bank (Afreximbank), Prof. Benedict Oramah, yesterday, in Cairo received the FORBES AFRICA magazine 2023 Person of The Year award. According to a statement, at a well-attended award ceremony, which also included the unveiling of the cover for FORBES AFRICA’s December 2023/January 2024 edition featuring Oramah as Cover personal-

Offers to host summit on river conservation

Governor of Bayelsa State, Senator Douye Diri, on Monday, took his campaign against the threats of ocean surge, coastal erosion, environmental pollution and their related impacts to the global stage. Speaking during the United Nations Convention for Conserving River Deltas (UN-CCRD) unveiling session of the ongoing Climate Change Summit (COP28) in Dubai, United Arab Emirates, Governor Diri solicited global concerted efforts to address the effects of oceanification and climate change on Bayelsa’s coastal communities. A statement by his Chief Press Secretary, Mr. Daniel Alabrah, quoted him as saying that in the

past few years, no fewer than 20 coastal communities in the state had almost been submerged or lost substantial amount of land to ocean surge and rising sea waters. He said the communities include Agge, Akassa, Agoro, Brass and Ekine. They also include Ezetu, Foropa, Koluama 1 & 2, Odioama and Okpoama among others. According to the governor, “scientific reports from our experts indicate that between 1991 and 2018, the shorelines of Bayelsa, its neighbours, Rivers State and Akwa Ibom State, witnessed considerable retreat and erosion, with respective measurements of 81,532 metres, 17,519 metres and 8,590 metres. The rates of shoreline migration and erosion were recorded

NLC had made it a compulsory for any worker who would contest for any office in the unions to show evidence of having attended training courses organised by the NLC. Ugboaja, also said this year's Harmattan School had been scaled down to exclude participants from other African countries due to paucity of funds resulting from the removal fuel subsidy. Chairman of the Federal Capital Teritory chapter of the NLC, Stephen Adalo Knabayi, said the theme was apt and timely considering so many happenings in the labour sector that calls for serious evaluation.

The Country Director of the International Labour Organisation (ILO), Vanessa Phala, urged the NLC and other trade unions in the country to take active part in the implementation of the Abidjan Declaration trade unions in partnership with other tripartite partners. She said the unions were expected to participate in policy dialogue to achieve the priorities identified in the areas such as productivity growth; skills development, formalisation, extension of social protection coverage; addressing gender inequality and discrimination; just transition; decent work and the reduction of inequalities.

Afreximbank’s President, Oramah, Emerges FORBES Africa’s 2023 Person of the Year

At COP28, Diri Seeks Global Attention for Coastal Erosion-ravaged Bayelsa Communities Olusegun Samuel in Yenagoa

December salary might be paid in January. “This is not what it used be and if we don't combat this now, then it becomes absolutely difficult for the average worker to appreciate what is called policy engagement.” He said payment of salary which was a primary function of government was now becoming difficult to fulfill. "It is unimaginable that payment of salaries will now become collective bargaining issues," he said. The theme this year's Harmattan School was "Building Workers Skills for Policy Engagement." Speaking on the goal of the Harmattan School, Ugboaja said the

at 11.1 metres per year, 7.2 metres per year and 5.5 metres per year, respectively “In the context of erosion along the Nigerian coast, Bayelsa alone accounted for 66.6% of the erosion and shoreline retreat, while Rivers and Akwa Ibom contributed 14.43% and 10.63% respectively.” Diri noted that climate change continues to “wreak unimaginable havoc” on the Niger Delta of Nigeria and on its environment, ecosystem, and human resources. “Unlike other regions of planet Earth, our plight is compounded from both ends, creating a case of "double jeopardy.” We need little activism to restate that the world’s deltas and wetlands are increasingly facing extinction,” he said.

ity, FORBES AFRICA Founder and Publisher, Dr. Rakesh Wahi and Managing Director, Roberta Naicker, said the award recognised the stellar accomplishments of leading Africans contributing to the development of the continent. “With a career spanning three decades at Afreximbank, Prof. Benedict Oramah is a true panAfricanist,” Managing Editor of FORBES AFRICA, Renuka Methil said. “In our almost hour-long interview Prof. Oramah’s stellar track record, coupled with his unbridled enthusiasm, passion, and contribution to the economic development of

Africa shone through. “Amongst many initiatives under his visionary leadership, Afreximbank launched the Pan-African Payment and Settlement System (PAPSS) which will be a historic project for cross-border payments in local African currencies. He is a resilient risk-taker and articulated so well what a new united Africa should, and would, look like,” Methil added. It stated that nominations for FORBES AFRICA Person of The Year were submitted by members of the magazine’s editorial and research teams, including journalists from its bureaus across Africa, and a winner was selected after an Africa-wide

review of the prominent contributors to the continent. “Prof. Oramah’s name was shortlisted and unanimously adjudged the winner for 2023. “With the award, Prof. Oramah joins a prestigious list of high achievers who had previously received the award, including Sanusi Lamido Sanusi, former Governor of the Central Bank of Nigeria; Dr. James Mwangi, CEO, Equity Group; Dr. Akinwumi Adesina, President, African Development Bank; Aliko Dangote, CEO, Dangote Group; Mohammed Dewji, President, MeTL Group; and Thuli Madonsela, former Public Protector of South Africa.

...Polaris Signs Up to Bank’s PAPPS to Ease Customers’ Cross-border Payment Polaris Bank has enrolled in the Pan-African Payment and Settlement System (PAPSS). The cross-border financial infrastructure initiated by Afreximbank empowers the bank’s existing and potential customers to execute trade and payments across Africa seamlessly. According to a statement, the inter-African trade payment gateway was a solution designed to empower those who trade international within African continent, with streamlined, efficient, and secure payment processes. Speaking on the digital payment

gateway, Polaris Bank's Group Head, Global Trade Business, Ayo Adesanya, said the launch of PAPPS underscored the bank's commitment to leveraging innovative solutions to simplify processes for customers. The banker added that PAPPS was embedded with several unique key features and delivers immense benefits for the bank's current customers and prospects. These features include seamless transaction management; meaning merchants and those involved in regional trade can now initiate and track cross-border payments within

a single, user-friendly platform. "The payment gateway offers a centralised hub for managing transactions, and hitherto multiple currency exchange systems. This feature reduces currency exchange risks and associated costs, ultimately benefiting our customers' bottom lines." she further disclosed. PAPPS also bolsters compliance and security as the payment gateway incorporates robust security measures to safeguard sensitive financial information, ensuring that transactions are executed securely and in compliance with international regulations.

TUESDAY, DECEMBER 05, 2023 • T H I S D AY

NEWS

TEF-UBA High Level Roundtable Conversation...

Tony O. Elumelu C.F.R. in conversation with Dr. Ngozi Okonjo-Iweala, Director General of the World Trade Organisation, at the TEF-UBA High Level Roundtable at the ongoing COP28 Conference in Dubai

Conversation on Most Vulnerable on Climate-Health Nexus...

Founder, The Tony Elumelu Foundation and Group/Chairman, UBA ,Tony O. Elumelu (L) in conversation with former United States Secretary of State, Hillary Rodham Clinton on “Taking Action Together for the Most Vulnerable on Climate-Health Nexus”, at the ongoing COP28 Conference in Dubai...last Sunday

Elumelu Convenes Global Leaders, Calls for Immediate Climate Action for Africa at COP28 TEF hosts US administration, WTO, UNDP, IFC, UNICEF, Rockefeller Foundation Leaders Champions equitable partnerships to catalyse new generation of green entrepreneurs Announces partnership to fund young African entrepreneurs in Green sector

Dike Onwuamaeze At a series of events across COP28, the Chairman of the United Bank for Africa (UBA), Mr. Tony Elumelu delivered a single message to world leaders: Africa needs to be heard, Africa’s future is the world’s future and the continent that is most impacted by and the least contributor to climate change, needs our attention. According to the founder of the Tony Elumelu Foundation (TEF), with African youth set to make up one third of global population later this century, the future of Africa’s youth, entrepreneurial, ambitious, resilient, needed to be given the

highest priority. Elumelu, offered the infrastructure and experience of his own Foundation’s 10-year $100 million entrepreneurship programme to partners, to catalyse a further generation of African entrepreneurs; entrepreneurs who could address climate change and drive the broader wealth creation that Africa requires. He stressed that reaching and funding young entrepreneurs in every African country, through his approach of sector agnostic seed funding, mentoring, and networking had delivered robust impact. The annual COP UN Climate Change Conferences unites the world

to assess progress in combatting climate change. Elumelu is one of Africa’s leading advocates for an equitable agenda for climate action and through the Tony Elumelu Foundation has empowered thousands of green entrepreneurs, shaping a more sustainable future for Africa. The Tony Elumelu Foundation, in partnership with the UBA, hosted a high-level session, bringing together Africans, and key players in the Gulf, Europe, and Americas, where UBA operates, underscoring the urgent need for innovative approaches to climate adaptation and mitigation, while fostering sustainable develop-

ment, and bringing attention to Africa’s unique position. Speakers included the Director General, World Trade Organisation, Dr. Okonjo Iweala; Assistant Administrator and Regional Director for Africa, UNDP, Ahunna Eziakonwa; CEO, UNICEF Generation Unlimited, Kevin Frey; VP Africa, IFC, Sergio Pimenta; Head of the Women Entrepreneurs Financial Initiative, World Bank, Wendy Teleki; U.S. Deputy Assistant Secretary for Climate, Adam Wang-Levine; Vice President, Global Energy Alliance for People and Planet, Rockefeller Foundation, Joseph Nganga; VP International Relations, Dubai

Sanwo-Olu Rolls Out Lagos’ Climate Resilience Plan, Signs Two Waste Management Deals Governor Babajide Sanwo-Olu of Lagos state has signed two waste conversion initiatives, after the state’s pitch at the ongoing global climate summit in Dubai, United Arab Emirates, attracted significant interest from investors. They are the advanced garbage collection and waste-to-energy project as well as the building of new sewage treatment plant. Sanwo-Olu broke the news at an event held at Nigeria Pavilion, where he also presented the Phase Two of the Lagos State Climate Adaptation and Resilience Plan (LCARP) before global partners. The governor said the two waste sector projects were at a pivotal stage, awaiting technical review by interested partners and disbursement of funds in order to transform the ideas to reality. The development, the governor said, marked another step forward in Lagos’ journey towards environmental sustainability and resilience, noting that the projects, if successfully delivered, would turn what had been a burden to opportunity for the state. Sanwo-Olu said the investments represented his administration’s commitment to improve the lives of the people of the state and maintaining the status of the state as a beacon of progress. He said: “Today marks a sig-

nificant milestone in our journey towards sustainability and resilience. Two of our key initiatives, which are Advanced Garbage Collection and Waste-to-Energy project, and Sewage Treatment Plant, have attracted significant investment interest. “ These projects are currently at a pivotal stage; we are waiting on the investors to conduct technical analysis and put in the funds to turn the ideas into reality. “Given that all cities face a collective threat of climate change, bringing about solutions requires collaboration and partnership. Our participation at COP28 has been driven by the cardinal objective to have direct engagements on sustainability with committed partners who can collaborate with us to create sustainable solutions to our local environmental challenges. “ The global climate budget is reserved for sustainable development and for all of us to take action in mitigating impacts of environmental pollution and climate change,” he stated. Sanwo-Olu told the multilateral audience that LCARP document was Lagos’ strategic roadmap towards a sustainable future. The resilience framework, he said, identified 30 ambitious projects, cutting across critical sectors including, transportation, renewable energy and waste

management. The governor said the state required a long-tenure investment exceeding $10 billion to build not just the required mitigation infrastructure, but also adequate redundancy to ensure sustainability. He added that 14 of the 30 projects were ideal for public-private partnership. “As a committed government with dedicated leadership, we are not taking actions on our own; we are in conversations to ensure that real partners get involved. “We are ready to lead from the front. We have a clear strategy of what we need to do and how we are going to achieve our climate mitigation objectives. Lagos’ success on this journey would not just be the success of Nigeria, but also an African and global success story,” Sanwo-Olu said. Commissioner for the Environment and Water Resources, Tokunbo Wahab, said Lagos was desirous of environmental sustainability, because of the threat posed by observed rise in sea level and extreme temperatures. The commissioner pointed out that LCARP document was the second of four planned frameworks designed by the state government as strategic response to climate change. Wahab said: “If we fail to seek the required investment and build resilient infrastructure towards

mitigating the consequences now, Lagos will be in need of $33 billion by 2050 to fight the threat. Our strategy involves tapping into a variety of blended financial sources.” Managing Director of Lagos State Waste Management Authority (LAWMA), Dr. Muyiwa Gbadegesin, said Lagos faced escalating waste management issues, leading to flooding during extreme weather events. Introduction of waste-to-energy plants, he said, would facilitate improved waste collection, treatment, while reducing land demand for landfills. The project, he said, will be located in Epe area of Lagos and is expected to process 760-kilo tonnes of municipal solid waste per year. Sanwo-Olu also signed a Memorandum of Understanding (MoU) with Sheikh Abdul Rahman Saif bin Saif Al Sharqi, chairman of Nigerian-Arabian Gulf Chamber of Commerce (NAGCC), at JAFZA One Convention Centre in Dubai. The agreement will facilitate, mutually undertake, explore trade and investment opportunities between Lagos and Arabian Golf Chamber of Commerce (GCC) member countries. The MoU will also provide a structured platform for dialogue, collaboration and exchange of innovative ideas between the business communities of Lagos and Arabian GCC.

Chambers, Hassan Al Hashemi; Chairman, West African Development Bank (BOAD), Serge Ekué; Deputy Group Managing Director, United Bank for Africa, Muyiwa Akinyemi, and Swedish Climate Ambassador and Head of Delegation, UNFCCC, Mattias Frumerie. “Addressing climate change is the paramount challenge of our era. The urgency is unmistakable.” Elumelu stated. “It is critical that Africa, as a continent, and African voices, play a key role in global climate conversations, as meaningful participants, and no longer as bystanders. “Africa is least responsible and is disproportionately impacted by climate change. I am investing in a generation of green entrepreneurs, and we are extending the hand of partnership, so that others can benefit and use the infrastructure and platform we have created to reach entrepreneurs across Africa,” he added. Elumelu had represented the African private sector at the 2023 New Global Financing Pact in Paris at the invitation of French President Emmanuel Macron, and the Climate Finance Mobilisation Forum in London, at the invitation of King Charles III of the United Kingdom and U.S. President Biden. At the 78th United Nations General Assembly (UNGA78) in New York, the Tony Elumelu Foundation (TEF) launched a first-of-its-kind Green Entrepreneurship Programme, the #BeGreenAfrica Initiative, in partnership with the IKEA Foundation, Dutch Government and UNICEF GenU, to support green entrepreneurship and youth development. Tony Elumelu Entrepreneur from Madagascar in the green economy, Marie-Christiana Kola, shared a compelling impact story. “As a beneficiary of the Tony Elumelu Foundation Entrepreneurship programme, I was able to create a recycled and 100 per cent biodegradable hand soap made with waste cooked oil - the number one water polluter of water in African urban cities. “These soaps do not only protect the environment, but they are also solidarity soaps. I was also able to attend the COP27 conference in Egypt, where I won the Innovation Prize. Today, I have employed over

30 people because of the Tony Elumelu Foundation.” Speaking at the TEF #COP28 high-level event, Okonjo-Iweala said, “I am proud of what my brother, Tony Elumelu, has done in empowering and inspiring so many young entrepreneurs. “We have no choice; the future is green. The future of growth is two things – it is green, and it must be inclusive. I am very interested in partnerships with organisations like TEF.” Also, Eziakonwa said: “The reason why UNDP associated itself with the TEF years ago is because of the leadership and courage of the Foundation to trust and invest in young Africans. It was one of the first organisation to do so at that scale.” The Foundation partnered with the UNDP to empower thousands in the Sahel, with an ambitious project to impact the lives one million young Africans. Pimenta stated, “Tony, I salute you and your Foundation for what you have been doing to support young entrepreneurs in Africa. The IFC has deployed $2 billion in funding for African SMEs in the last fiscal year and we are very excited to be able to do more, working with you.” Similarly, Kevin Frey noted that, “With TEF, we have moved in a concerted way into the entrepreneurial space. “Generation Unlimited now have a flagship programme with the Tony Elumelu Foundation called #BeGreenAfrica, launched in Kenya, and now with the support of the IKEA Foundation and the Dutch Government, we have scaled to Nigeria, Morocco, South Africa, and Senegal. “We will train and seed 500 green entrepreneurs this year in the pilot project across those countries. So Tony, thank you so much, you are right it is all about partnerships.” Wendy Teleki announced, “Our women-focused initiative has been able to secure $3.6 billion to finance women entrepreneurs in 67 countries across the world, and is set to launch a new programme focused on financing African women entrepreneurs to drive the continent’s green energy transition, and we are keen to work with the Tony Elumelu Foundation.” Continues online

TUESDAY DECEMBER 5, 2023 • T H I S D AY

TUESDAY, DECEMBER 05, 2023 • T H I S D AY

NEWS

At the resumed trial of Boko Haram suspects...

L-R: Representative of the National Security Adviser (NSA) and Principal General Staff Officer, Office of the National Security Adviser (ONSA), Brig. Gen. OM Adesuyi; Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (middle), Justice Binta Nyako (right) and others at the resumed trial of Boko Haram suspects in Abuja... yesterday

NGFCP: NUPRC Targets 500mmscfd Flare Gas, 6m Tonnes Carbon Emission Reduction To grow gas output from 7.0 bcfd in 2023 to 12 bcfd by 2030

Emmanuel Addeh in Abuja Nigeria intends to reduce its flare gas volume by 500mmscfd and curb current carbon emission by as much as 6 million tonnes through the ongoing Nigerian Gas Flare Commercialisation Programme (NGFCP), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has said. Describing it as a major win in Nigeria’s energy transition pathway, the Chief Executive of the NUPRC, Mr Gbenga Komolafe, who spoke at the Nigerian Pavilion, UN Climate Change Conference in Dubai, United Arab Emirates, noted that this represents 50 per cent of current flare disposition in the country. Komolafe’s speech was themed: “Driving Sustainable Upstream Operations to Achieve Just and Equitable Energy Transition.” The commission chief executive said the organisation had intensified efforts towards eliminating flared gas, while arresting methane and other fugitive gas emissions, by commercialising 49 flare sites through the programme. Further investment opportunities, he said, are also available in ongoing and future licencing rounds for oil and gas blocks, seismic acquisition on multi-client basis, development of deeper hydrocarbon opportunities, carbon markets, evacuation logistics and surveillance infrastructure. Each of these areas, according to Komolafe provides a unique entry point for willing investors and are

essential components of the national architecture for sustainable energy infrastructure development. “This programme is a major platform for Nigeria to showcase its commitment towards zero emission by 2060. In this regard, as a commission we are happy to showcase at this forum that significant progress has been recorded in the implementation of the NGFCP. “With the emergence of awardees, the successful entities are progressing towards the conclusion of commercial agreements and commencement of project execution. “This is a major win in Nigeria’s energy transition pathway. Upon completion, we estimate a reduction of about 500 MMscfd of flare gas, representing 50 per cent of current flare disposition, which is equivalent of 6 million tonnes of CO2 emission per year,” he added. He explained that these were the cardinal pillars of the Nigeria Energy Transition Plan (NETP) upon which basis the Nigerian government declared natural gas as transition or bridge fuel. In the same vein, he disclosed that government has initiated the “Decade of Gas programme” to actualise the objectives of unlocking investments required to grow gas production from an average of 7.0 bcfd in 2023 to 12 bcfd in 2030. According to Komolafe, this development will be driven by major projects such as NLNG Train 7 and 8, Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project and

the Nigeria-Morocco Gas Pipeline, among others. Based on projected gas demand, Komolafe stressed that significant opportunities for participation exist for both existing investors and new entrants. To him, the expectation is that international investors would support Nigeria’s gas journey in its energy transition pathway, even while the country is implementing the green story in Field Development Plans (FDPs) to integrate decarbonisation measures. He listed the incentives currently available in the system to include: Zero-hydrocarbon tax for deep water

developments, reduced royalty rates based on production and terrains, and tax consolidation provisions, amongst others. In the implementation of the Petroleum Industry Act (PIA), the commission, Komolafe said, is benchmarking its regulatory approaches with the best international standards targeted at achieving reduction in unit operating cost. He added that other objectives include: Developing a transparent approach to hydrocarbon accounting, attaining operational efficiency and effectiveness in operations and achieving peace and harmony in the host community environment.

He further stated that Nigeria intends to increase its oil and gas reserves and production, reduce carbon footprint and attain net zero global emissions target as well as creating sanity and predictability in the system. “It is important at this point for us at this forum as a commission to make a clarion call on the investors, multilateral organisation, international financiers, technical service providers and partner entities to collaborate with the commission and to enhance their support as flare-out projects are being consummated and developed. “To this end, the commission

Kyari: Africa’s Peculiarities Must be Considered to Achieve Just Energy Transition Emmanuel Addeh in Abuja The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mr. Mele Kyari, has said that the African continent needs ‘a just and differentiated transition’ to enable it to harness its resources for today for the benefit of its future generations in the push for cleaner sources of energy. The GCEO made this known while speaking at a regional CEO panel organised by McKinsey &

Company on the sidelines of the ongoing United Nations Conference on Climate Change (UNCCC), also known as the COP28 Conference, in Dubai, United Arab Emirates (UAE) yesterday. Kyari, who joined other global energy leaders from the United States, Holland, and Oman to highlight energy perspectives and insights on the evolving energy market, said the world must understand Africa’s peculiarities in addressing the effects of climate change on energy businesses.

“I have always advocated for a differentiated and just energy transition. In Africa, we have different circumstances compared to other places in the world. “In Africa today, 75 per cent of our population doesn’t have access to electricity, leaving us with biomass as a key energy source. The world needs to recognise that the most practicable thing today is to substitute what we have in the short term to close the energy gap for our rising population,” he stated, according to a statement by the

UK Commits £100m to Climate Change inVulnerable Countries

Michael Olugbode in Abuja

The United Kingdom Government has made commitments to help vulnerable countries strengthen their resilience to the increasingly frequent and severe effects of climate change. The commitment was made at the ongoing COP28 Summit in Dubai, United Arab Emirates (UAE), according to a statement. It said the International Development and Africa Minister, Andrew Mitchell announced £100 million to support some of the most climatevulnerable countries tackle climate change. The statement added that this will support an initiative to strengthen early warning systems in countries on the front line of climate change,

giving people advanced warning of cyclones, flooding and other extreme weather so they can move away from danger, saving lives and protecting vulnerable communities. The statement added that the funding will also help make healthcare in the areas more resilient and able to withstand disasters, like floods, and ready to deal with spikes in infectious diseases, like cholera and malaria, due to floods caused by climate change. Recognising the urgency of the situation, which forces 26 million into poverty every year, the UK government also joined calls for bolder collective action to protect the lives, health and livelihoods of those most impacted by climate change. This, it said, supports the Prime Minister, Rishi Sunak, who

calls on all well-meaning partners to deepen support for programme toward full value realisation through: Technical support, financing and funding, collaboration for carbon credit earning framework as a major climate action for Nigeria and capacity building,” he added. Based on the Paris Agreement, Komolafe reiterated that Nigeria had set its Nationally Determined Contributions (NDC) in support of 2030 emission reduction targets for unconditional reduction of 20 per cent and conditional reduction of 47 per cent with international support in the form of financing, technology transfer and capacity building.

announced major funding for climate projects and stressing the need for ambitious, innovative and pragmatic action. International Development and Africa Minister Andrew Mitchell, said: “The devastating effects of climate change hit the most vulnerable the hardest. “These funding commitments will help countries and people be better prepared and protected against extreme weather events and natural disasters. They will help roll out measures such as early warning systems, and open up access to climate finance to build resilient health services. “The UK will continue to press for a bold and ambitious approach to support those on the frontline of our changing climate, and to create

a safer planet for us all.” On behalf of the UK, Mitchell endorsed the ‘Getting Ahead of Disasters’ Charter, the ‘COP28 Declaration on Relief, Recovery and Peace’, and the ‘COP28 Declaration on Climate and Health’. Speaking at COP28, he outlined details of the funding package, which include Nearly £20 million for a package of disaster risk financing and early warning systems. “This will help the one-third of the world’s population who are not covered by early warning systems to prepare for climate shocks and extreme weather, reducing disasterrelated mortality and damage. It will also provide affordable insurance against climate disasters, such as droughts,” the statement said. Besides, it stressed that there was

another funding of £36 million for climate action in the Middle East and North Africa to support long-term climate stability. “ This will mobilise $500 million for clean energy and green growth projects, support 450,000 people to adapt to climate change, and support 200,000 women in better protecting their families from climate shocks. This delivers on the UK’s commitment to scale up pre-arranged finance for crisis recovery,” it added. Over £4.4 million, the statement said, had also been provided to improve access to climate finance for Small Island Developing States and enable them to adapt to the impacts of climate change, with support from the Global Environment Facility’s Special Climate Change Fund and the Alliance of Small Island States.

Chief Corporate Communications Officer, Olufemi Soneye. With Nigeria projected to be among the global top 10 economies by 2035 and 3rd in terms of the global population by the same year, the GCEO said it was critical that the energy poverty question be discussed as nations unite to achieve net zero by 2050. According to the NNPC boss, with abundant natural gas reserves of 206 Trillion Cubic Feet (TCF) that have the potential to rise to 600tcf, Nigeria is currently utilising gas to drive its journey towards energy transition. He said that NNPC was creating a regional gas pipeline network to supply natural gas across the African continent and boost its Liquefied Natural Gas (LNG) supply to the foreign market. Explaining that NNPC is currently eliminating gas flares in almost all its gas projects, Kyari said the idea was to deploy such gas towards developing power plants nationwide. He explained that this will boost nationwide electricity supply, create employment opportunities and trigger the nation’s industrial and economic development. Kyari added that to demonstrate NNPC’s commitment to a net-zero future by 2025, the company recently signed up as a participant in the United Nations Global Compact in New York, becoming the first state-owned oil company to join the global initiative.

TUESDAY DECEMBER 5, 2023 • T H I S D AY

T H I S D AY • TUESday DECEMBER 5, 2023

politics

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

As House Prioritises Amendment of Electoral Act in Its Legislative Agenda...

The recently launched Legislative Agenda of the 10th House of Representatives gives an insight into what it plans to achieve in the next four years including the amendment of the 2022 Electoral Act. Adedayo Akinwale writes.

Abass

ithout doubt, these are not the best of times for Nigeria and Nigerians, especially with all the negative economic indices staring the country in the face. Without mincing words, the last time the country was at this precarious situation was when former President Olusegun Obasanjo assumed the leadership of the country in 1999 and he had to reset the economy of the country which had since nosedived. Though, the current administration of President Bola Tinubu has put together his cabinet to help stare the ship of the country from the economic storm, but his policies and economic interventions have done little to assuage the situation. Flowing from this, the House of Representatives recently launched its Legislative Agenda aimed at addressing the yearnings of Nigerians and the numerous challenges facing the country across various sectors. The Green Chamber under the leadership of the Speaker, Hon. Tajudeen Abbas was of the firm believe that legislative interventions are crucial for addressing these issues and driving positive change. Beyond that, the Agenda is also intended to streamline the activities of the House and guide the efficient allocation of resources. The Speaker was also of the opinion that a well defined legislative agenda with legislative priorities is of utmost importance for the efficient and effective functioning of the legislature. It is a roadmap that guides lawmakers and legislative bodies in decisionmaking as well as lawmaking processes. Abbas noted that the 10th House of Representatives has been called to serve at one of the most challenging times for their constituents and nation. He said: “Critically, as the people’s representatives, we recognise that Nigerians and our constituents have a right to know what issues are being addressed and what priorities their elected representatives focus on. This transparency enhances public trust and accountability. “Accordingly, we have dubbed the 10th House the “People’s House”. We expect this Agenda to foster meaningful public engagement and encourage citizens and stakeholders to participate in debates, hearings, and consultations related to the identified priorities, making the legislative process more inclusive and democratic.” The Green chamber has identified eight key legislative priorities, namely: strengthening good governance; improving national security; law reform; economic growth and

Kalu

development; social sector reform and development; inclusion and open parliament; influencing foreign policy, and climate change and environmental sustainability. The House explained that these agenda areas have been carefully crafted to align with the eight-point agenda of the Executive. This ensures policy consistency and coherence and avoids conflicting and contradictory legislation. The Agenda also allows members and Committees to plan their work well in advance, including drafting bills, conducting research, engaging with stakeholders, and promptly addressing key priorities. Judicial Reform The House believed that reforming and strengthening the judiciary in Nigeria is crucial for upholding the rule of law, ensuring accountability, promoting justice, and fostering economic development. Accordingly, the 10th House said it was committed to pass a law to regulate the process of selection and appointment of judges outlining detailed processes and requirements as well as greater transparency and public involvement at all stages. It added that it was also committed to amend the Constitution and

relevant statutes to expand membership of the appointing institutions; ensure compliance to constitutional provisions and guidelines through oversight; consult on the merit of establishing specialised courts to handle specific types of cases, which could expedite case resolution and reduce backlogs; provide adequate resources for speedy dispensation of justice, among others. Corruption and Legislative oversight The House has assured of its commitment to adopt legislative initiatives to strengthen its oversight functions to combat corruption in Nigeria. To this end, the House said it would adopt legislative measures towards achieving the following: strengthen the existing legal frameworks regulating anticorruption agencies; ensure independence of anti-corruption agencies; strengthen existing anti-corruption agencies to consolidate their functions and operations and promote synergy and information sharing for effectiveness; provide funding to anti-corruption and law enforcement agencies to enhance their capacity to effectively investigate and prosecute corruption cases, among other interventions. Security In the area of security, the 10th House said it would take legislative measures to support the government’s drive to end insecurity. It assured that it would put adequate and proactive legislation and policy options in

place. The Green Chamber said its interventions would include promoting accountability in security sector explaining that funding and budgeting is essential to ensure the efficient utilisation of resources, prevent corruption, and enhance public trust in security institutions. The House further assured that it would enact legislation that mandates a more detailed and itemised budgetary disclosure for security agencies. It said while certain specifics might be kept confidential for national security reasons, a general breakdown should be accessible to the public. It stressed that it would mandate regular independent audits of security sector expenditures; create or empower an independent body with the necessary clearances to perform these audits; strengthen parliamentary oversight over security sector spending; committees responsible for defence, internal security, and intelligence should have powers to scrutinise and review the full details of budgetary allocations and expenditures. The Green Chamber added that it would pass the whistleblower protection law to encourage individuals within security agencies or related bodies to report financial malpractices without fear of retaliation; legislate for the establishment of a Security Sector Reform Commission to oversee reforms within the security sector, including financial transparency and accountability. It said it would introduce stricter penalties for misappropriation, misallocation, or any form of financial malpractice within the security sector and empower anti-corruption agencies with more autonomy and resources to investigate and prosecute financial misconduct within the security sector, among others.

Following the completion of the 2023 general election, as well as the just concluded off-cycle elections in Bayelsa, Imo and Kogi states, the House has resolved Policing System The House also promised to review the to amend the 2022 Electoral Act. The Green Chamber current system of policing in Nigeria, while is, however, silent on whether it would also amend the also strengthening the framework for ‘compolicing’ to decentralise the police law to mandate the Independent National Electoral munity structure and allow zonal commands to take action on police issues. Commission (INEC) to transmit or upload results from prompt It vowed to open up national discussion on merits of State Police, aggregate citizen’s the polling units on INEC Results Viewing Portal (IReV). the views and perspectives. It further assured At the moment, Section 60 of the Electoral Act states that it would adopt legislative measures to the Nigerian Police Force and position that, the presiding officer shall, after counting the reform them as the primary agency responsible for votes at the polling unit, enter the votes scored by internal security. NOTE: Interested readers should continue in the each candidate in a form to be prescribed by the online edition on www.thisdaylive.com commission as the case may be.

TUESDAY DECEMBER 5, 2023 • T H I S D AY

TUESDAY DECEMBER 5, 2023•T H I S D AY

TUESDAY DECEMBER 5, 2023 • T H I S D AY

LAWYER TUeSday, DECEMber 5, 2023

A TR

UT H

& RE A S O

weekly pullout

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& RE A S O

Chief Layi Babatunde, SAN

‘Electorate Shouldn’t be Made Onlookers in Election Outcomes’

TueSday, DECEMber 5, 2023 • T H I S D AY

In this edition

Resolution of Conflicting Oral Evidence before the Court Page IV

Lagos A-G to Present Book on Supreme Court

Quotables

Page V

‘It is damaging to the exigency of the system…. because, civil and criminal cases are disrupted when thousands of cases are brought before Judges, who are then uprooted from their normal day to day job to decide election petitions.’-Yemi Candide-Johnson, SAN

‘Nigerians have been very unfair to the Justices…. because, many of them don’t understand the way the courts work. All the Justices at various levels, have been tarred with the brush of iniquity’ -Ikeazor Akaraiwe, SAN

Mohbad: Police Name Prime Suspect Page V

columnist PROF MIKE OZEKHOME, CON, SAN, FCIArb,, PH.D. LLD Constitutional Democracy, means a system of government, in which political and governmental power, is defined, limited and shared by a grundnorm called the Constitution, which provides inbuilt checks and balances. This column seeks to fiercely discuss constitutional, legal and political issues, with a view to strengthening, deepening and widening the plenitude and amplitude of democracy and good governance, without fear or favour. The writer of this column, Prof Mike Ozekhome, SAN, is a Constitutional Lawyer, Human Rights Activist, Pro-Democracy Campaigner, Notary Public and Motivational Speaker. He co-founded the Civil Liberties Organisation (CLO), Nigeria’s pioneer human rights league, on October 15, 1987, the Universal defenders of Democracy (UDD), in 1992, and with Chief Gani Fawehinmi and others in 1998, the Joint Action Committee of Nigeria (JACON), to push out the military. In his early days, he lectured at the University of Ife. Prof Ozekhome is an author of many books. He is also a Special Counsel at the International Criminal Court (ICC), at The Hague.

lawyer

Security: Nigeria Police Force Introduces Digital Central Motor Registry Page V

onikepo braithwaite: editor, jude igbanoI: deputy editor, peter taiwo, steve aya: reporters

III The advocate

T H I S D AY • TueSday, DECEMBER 5, 2023

Illiterate Lawmakers, Static Laws

hat’s that saying, about law being dynamic? That it evolves or develops, to meet the needs of an ever-changing society and life generally? Unfortunately, this doesn’t seem to be the case in Nigeria. On the contrary, our law seems to be static, or even worse, regressive, some laws still being enacted to protect certain groups of people, while many seem to observe laws in their breach, especially those who are meant to be the drivers of either enacting the best laws for the peace, order and good governance of Nigeria, like the Legislature, or should be executing the laws, like the Nigeria Police Force and other Government agencies - see Sections 4, 5 & 6 of the 1999 Constitution of the Federal Republic of Nigeria (as amended in 2023) (the Constitution) on the role of the Legislature, Executive and Judiciary. Nigeria and Nigerians seem to have been captured in some kind of negative web, and I often wonder how we will be untangled from it. Illiterate Lawmaker: Matters Arising 1) Section 318 of the Constitution Last week, I saw a news forward which did the rounds on social media, to the effect that a State House of Assembly Lawmaker had been sacked by the Court of Appeal for not meeting the most basic educational qualification set in Section 318 of the Constitution, Primary School Leaving Certificate, as the claim of the Appellant was that the sacked Lawmaker, the Respondent in the Appeal, could neither read or write. How sad! That the bar has been set so low, that a person of whom it is alleged that he’s illiterate, would be the one purportedly making laws for the peace, order and good governance of a State! How many of them like him, are there in governance? Could be more then we imagine! And, yet, we wonder why some of our laws are what they are! Ambiguous, incoherent, and even repugnant to natural justice. I had argued in the past that, Section 318 concerning the definition of School Certificate and its equivalent, must be amended. It is a self-serving falsehood, orchestrated to serve only those with little or no educational qualifications, who have no business being in governance, to be able to be or remain there. The provision is also subjective, as in subsection d of that Section 318 provision gives INEC, which is not an education assessment institution, the latitude to be the judge of acceptable qualifications. 2) The Problematic Section 29(5) of the Electoral Act Two weeks ago, I wrote about how the Nigerian Legislature has disappointed Nigerians over the past two decades; that instead of amending or repealing bad laws and replacing them with good, relevant, progressive, and up-to-date ones, an Oligarchy has been established between the Executive and Legislature to perpetuate and recycle themselves, and this Section 318 constitutional provision as to educational qualifications required to vye for office, now in cahoots with Section 29(5) of Electoral Act 2022 (EA), are both enablers of how the Oligarchy is achieving this despicable goal. The Court of Appeal, in reaching its decision in the Lawmaker’s case, as to the educational requirements to run for the office of Lawmaker used the earlier decision in Lado & Anor v Masari & Ors (2019) LPELR-55596 (SC) in which the constitutional qualifications of a Primary School Certificate holder with the extra conditions attached thereto, including the ability to read, write and communicate in English Language, were regurgitated, and the Court of Appeal apparently upheld the Appellant’s argument in the Lawmaker’s case, that the Respondent was unable to show that he could read or write and sacked him. The decision in Lado & Anor v Masari & Ors (Supra), was however, handed down before the advent of the questionable Section 29(5) of the EA. I have stated a few times, that the more this supposed new and improved provision is tested, the more it appears to fail. As I have been shouting from the rooftop, Section 29(5) of the EA restricts the class of who can bring matters pertaining to a Candidate’s constitutional qualification or disqualification to a pre-election matter, to be instituted at the Federal High Court, only by a fellow Aspirant who contested in the Party Primaries with such a Candidate. This current position of the law, has been upheld by various courts, including the Apex Court in the 2023 Presidential Election Petitions. It is therefore likely that, aside from the issue of constitutional educational qualification, unless there are other grounds that were proven against the sacked Lawmaker that warranted his sacking, he may very well be restored to his position, since the issue of qualification was brought as a statute-barred post-election rather than a pre-election matter, in a case by the candidate of another party, who by virtue of EA, lacks the requisite locus standi

defend the position that such proceedings cannot be open to everyone to institute, it may be more equitable to open it up to, at least, allow Petitioners to include questions of constitutional qualifications or disqualifications as part of their election petitions, as they also have a vested personal interest in the outcome of the election they have participated in, just as co-aspirants have a vested personal interest in party primaries; or else, such questions will never be resolved, as no co-aspirant will ever raise it. See Section 36(1) of the Constitution. A law that appears to be orchestrated in order that certain people can escape justice, instead of doing justice, I submit, is not a good law.

onikepo braithwaite onikepo.braithwaite@thisdaylive. com onikepob@yahoo.com

The

Advocate “…. this Section 318 constitutional provision as to educational qualifications required to vye for office, now in cahoots with Section 29(5) of Electoral Act 2022…A law that appears to be orchestrated in order that certain people can escape justice, instead of doing justice, I submit, is not a good law” to do so. 3) Is it Impossible to Sack an Erring Lawmaker? Does that mean that because of a legal hitch, that is, Section 29(5) of the EA, a person who is obviously not constitutionally qualified to run for an election, can run for it and get away with it? - see Section 1(1) of the Constitution on its bindingness on all persons and authorities in Nigeria. That a person who may be proven to be illiterate, and therefore, disqualified from running for such an office, will be able to continue in that office because the wrong person brought the action against him at the wrong time? This kind of bizarre and absurd outcome, should make any right thinking person and Lawmaker question the essence, fairness, equity, honour etc of this law. Remember I told you a couple of weeks ago about American Legislator, Republican Representative George Santos who had allegations of misspending campaign funds levelled against him, and how he was facing expulsion from Congress? Last week, he was expelled from Congress by a vote of his colleagues. Some Republicans, and all the Democrats in Congress, except two, voted in favour of Santos’ expulsion. The problem I have with Santos being expelled by his colleagues is that, despite the fact that his behaviour was criminal, their decision to expel Santos overrode the will of the people who voted him in. This is the same reason why one Democrat Representative from Georgia, abstained from voting for his expulsion. Unfortunately, not only do we do not have the type of Legislature that would take the type of step that the American Congress took against Santos to show their disapproval of his wrongdoing and to sanction him, our Legislature isn’t empowered to do so. In Nigeria, the only other recourse would be

Senate President, Godswill Akpabio

to recall the erring Lawmaker, but, I’m not sure that Nigerian constituents understand the process of recalling their representatives in the Legislature, let alone being interested in recalling them (remember the failed attempt to recall Senator Dino Melaye). Elements of a Good Law: Qualities Absent from Section 29(5) of the EA What are some of the elements of a good law? Aside from the fact that a good law is one that is able to resolve disputes decisively, it is not unreasonable, nor is it discriminatory, and it is equitable and enforceable. Section 29(5) of the EA, doesn’t appear to possess these features. In most of the cases which we have seen concerning constitutional qualifications and disqualifications, the provision of Section 29(5) of the EA appears to leave the dispute unresolved. Co-aspirants rarely institute legal proceedings against themselves, as this may amount to Party misconduct, and there are consequences stated in Political Party Constitutions for those who shun their internal dispute resolution mechanisms and seek legal redress, which may be considered to be embarrassing or bringing the Party into disrepute, or even anti-Party activities instead. Erring Party Members can face punishments, ranging from reprimand to expulsion from the Party - for example, see Article 21 of the APC Constitution on the Discipline of Party Members. This makes Section 29(5) look like a useless dummy. Again, Section 29(5) of EA appears to be discriminatory, contrary to Section 42(1)(b) of the Constitution, since it gives only a co-aspirant and no one else the locus standi to sue on constitutional qualifications and disqualifications, even if there are reasonable grounds to institute proceedings against such erring Candidate. While one may be able to

Speaker, House of Reps, Tajudeen Abbas

Laws Relating to Confessional Statements of Suspects And then, we have the situation where the laws may attempt to be evolved progressively, but are observed in their breach, or at the end of the day, as usual, they are skewed in favour of Government and/or its agencies (as Section 29(5) of the EA is skewed in favour of the erring Political Candidates) instead of being skewed in favour of justice - these are bad laws. If you have ever watched any of the Crime Channels on DSTV, the programmes which show real life interviews of suspects at Police Stations, you will see that, in America, for example, for several decades now, such interviews are video recorded, thereby allowing everybody to see the countenance of the suspect, thereby ruling out the issue of 95% of suspects claiming that their confessional statements were taken under duress and the need for any trial-within-trial. On the contrary, in Nigeria, in 2023, we still have uncountable situations where confessional statements for most suspects are signed or thumb-printed by the suspect at the Police Station, not video recorded when the statement is being made, or, in the alternative, not witnessed by a legal practitioner who is present when the statement is being taken, as a result of which the first thing these Defendants do as soon as they arrive in court, is to retract their statements, alleging that they were made involuntarily, under duress and are consequently, inadmissible, thereby requiring a trial-within-trial. In this 2023 era of technology, in which even a smart phone can be used to make video recordings, why should we still be bogged down with trial-within-trial issues? Because, our law in that regard, is deficient. In 2015, Section 15(4) of the Administration of Criminal Justice Act 2015 (ACJA) made it mandatory for a suspect’s confessional statement to be taken in writing. In the same breath, Section 15(5) of ACJA also makes an oral confession of a suspect (without it being recorded), admissible in evidence! What then is the point of Section 15(4) which makes it mandatory that a statement be taken in writing if the subsequent provision more or less contradicts it, or the second half of the provision that mentions recording a confessional statement? In this day and age, these provisions are not up-to-date and do not meet global best practices. It should be mandatory, that such interviews or confessional statements should be videotaped. Section 9(3) of the Lagos State Administration of Criminal Justice (Repeal and Re-Enactment) Law 2015 (ACJL) made it mandatory that 1) the taking of a confessional statement must be video recorded, 2) if not, it must be taken in the presence of the legal practitioner of the suspect. This is never adhered to, as the Police take statements daily, without adopting either of these two options, yet, these statements are usually admissible in court. While I’m not saying that all suspects are innocent - they are not, it is a well known fact that many suspects are tortured by Police into making confessional statements, so much so that the Anti-Torture Act 2017 was enacted to deter this practice. Practically every Defendant in Nigeria, confesses their guilt to the Police! How?! This seems fishy, and if indeed, a person is innocent until proven guilty à la Section 36(5) of the Constitution, then video recording of interviews of suspects and taking of statements must be mandatory, and the Police and all law enforcement agencies must comply. Conclusion My point? In 2023, our laws must be contemporary, meeting the needs of today, and designed with the aim of ensuring that justice is achieved, instead of being skewed in favour of shady Politicians or Government Agencies. As for Section 29(5) of the EA, my last word on it is that, the only way to bring it up to scratch, is to expand its scope to Petitioners in their election petitions; if not, it will remain a loophole through which the undeserving are protected, possibly like the Lawmaker who isn’t literate!

IV law report

TueSday, DECEMber 5, 2023 • T H I S D AY

Resolution of Conflicting Oral Evidence before the Court

Facts The Appellant (as the Vice Chairman of the Akure North Local Government Council) was made the Chairman of the Planning Committee set up by the then Chairman of Akure North Local Government Council, to organise events to host the visit of the then Governor of Ondo State to Akure North Local Government Council. In furtherance of this purpose, the sum of N1,300,000.00 was approved and released to the Committee. The Appellant and another person were alleged to have misappropriated N70,000.00 and N90,000.00 respectively, out of the money disbursed for the Governor’s visit. This was what formed the basis of a three-count charge, for which the Appellant was charged before the High Court of Ondo State. At the end of the trial, the Appellant was found guilty on all the three counts, and sentenced to five years imprisonment with an option of N2 million fine on each count. While the Appellant paid the aggregate sum of N6million as fine, he filed an appeal at the Court of Appeal (the “lower court”) challenging the decision of the trial court. The lower court allowed the appeal on counts 2 and 3 but upheld the conviction of the Appellant on count 1 of the charge of making false statement in respect of N70,000.00 belonging to the Akure North Local Government Council and received by him, by claiming that part of the money was disbursed to security agents of the Governor of Ondo State for the fuelling of their vehicles, contrary to Section 16 of the Corrupt Practices and Other Related Offences Act 2000. Aggrieved, the Appellant filed a further appeal to the Supreme Court. Issues for Determination The Appellant submitted two issues for determination, which were adopted by the Respondent, for the Apex Court’s determination, to wit: 1. Whether the lower court was not wrong in holding that the Appellant did not suffer miscarriage of justice or breach of right to fair hearing or fair trial, by the way the learned trial Judge wrote the judgement in this case? 2. Whether the lower court was not wrong to have affirmed the conviction of the Appellant on count one of the information in this case? Arguments Counsel for the Appellant submitted on the first issue, that the lower court erred in law when it held that the approach of the trial Judge to make damaging conclusions against the Appellant before reviewing the case of the parties, did not occasion a denial of fair hearing or miscarriage of justice. He cited OSUAGWU v THE STATE (2013) ALL FWLR (PT. 672) at 1625-1626 in support. In rebuttal, the Respondent’s counsel contended that while there is a recommended style of writing judgements, the individual style of a Judge is not conclusive proof that the judgement is wrong. Counsel submitted that the Appellant was wrong to equate the manner the judgement was written with the premeditation of guilt and lack of fair hearing, in neglect of the weighty evidence against the Appellant. Respondent’s counsel further argued that, the emphasis should be that the prosecution should prove its case beyond reasonable doubt. He relied on IBEH v STATE (20010 2 ACLR at 386.

Honourable Uwani Musa Abba Aji, JSC IIn the Supreme Court of Nigeria Holden at Abuja On Friday, the 3rd day of March, 2023

Before Their Lordships Kudirat Motonmori Olatokunbo Kekere-Ekun Uwani Musa Abba Aji Ibrahim Mohammed Musa Saulawa Adamu Jauro Emmanuel Akomaye Agim Justices, Supreme Court SC/401C/2015 Between GBENGA OJO And

APPELLANT

FEDERAL REPUBLIC OF NIGERIA

RESPONDENT

(Lead Judgement delivered by Honourable Uwani Musa Abba Aji, JSC)

On the second issue, the Appellant’s counsel argued that the trial court failed to properly evaluate the oral testimonies of the relevant witnesses on count 1. His argument was that the Appellant signed Exhibit 6C or F in good faith, on behalf of the Chief Security Officer to the then Governor (PW2), Personal Assistant to the Governor (PW4) and Aide De-Camp (PW7) as acknowledgment that the money was delivered to them. Counsel further argued that the determinant factor of whether money was disbursed should have been the evidence adduced by both parties and since the evidence from DW2 and DW3 (the Appellant’s witnesses) go to confirm that money was indeed disbursed to the Governor’s aides, count 1 could not be said to have been proved beyond reasonable doubt. On this premise, he urged the Court to allow the appeal, discharge and acquit the Appellant.

“….where there are conflicting or different versions of oral testimonies from the prosecution and the defence, it is documentary evidence that can resolve such a conflict; and similarly, where there are conflicts in documentary evidence, oral evidence is called to resolve same”

Reacting to the foregoing, the Respondent’s counsel submitted that the signing for another is indicated with “for” and as such, the person who signs for another assumes full responsibility for the implication of such document signed. He argued that by the Exhibit 6C or F which were meant to be signed by the beneficiaries of the disbursements as proof that they received the money, the Appellant had only signed on behalf of others who claimed that they did not collect their money. He submitted that it was not the law to debunk reliable evidence in a document, with contradictory oral testimonies. He cited IKEM v VIDAH PACKAGING LTD (2011) ALL FWLR (PT. 601) 1506. Court’s Judgement and Rationale In determining the first issue, as to the style adopted by the trial court in writing its judgement by first coming to specific conclusions on the guilt of Appellant on counts 2 and 3 before a review and evaluation of the case of the parties, the Apex Court held that once a judgement complies with the constitutional provision and components/requirements of a valid judgement, the judgement cannot be attacked by a party on ground of style of writing, save where there is a miscarriage of justice. What is essential is that the Judge should show a clear understanding of the facts in the case and the issues involved, as well as knowledge of the applicable law, and from all this, he is able to draw the right conclusions and make a correct finding on the evidence before him. Once these essential elements

are present in the judgement, it will not matter what method was employed in writing the judgement. The Court referred to its decision in REVEREND KING v STATE (2016) LPELR-40046 (SC) PP.56 PARA. B. The Court held that although the trial court’s approach may appear to be some sort of pre-judgement or premeditated conclusion which ought not to have been done by the trial Judge, it has not been shown to have occasioned any miscarriage of justice to the Appellant in any way. The “damaging conclusions” insinuated by the Appellant cannot affect the validity of the judgement delivered, except the Appellant has suffered some injustice therefrom. In its determination of the second issue, the Apex Court considered the veracity of the Appellant’s testimony that he signed Exhibit 6C or F on behalf of PW2, PW4 and PW7 as proof that the sums were delivered to them because they were in a hurry to leave with the Governor, vis-à-vis conflicting evidence by the said PW2, PW4 and PW7 that they did not receive any money from the Appellant. The Court held that where there are conflicting or different versions of oral testimonies from the prosecution and the defence, it is documentary evidence that can resolve such a conflict; and similarly, where there are conflicts in documentary evidence, oral evidence is called to resolve same. In essence, where documentary evidence supports oral testimony, oral testimony becomes more credible. The Apex Court reasoned that given that the oral testimonies of PW2, PW4 and PW7 that the money was not disbursed to them by the Appellant, sharply conflicts with the oral testimonies of the Appellant’s witnesses that the money was disbursed to them, it was only documentary evidence that could resolve the conflict. This is premised on the position of the law that, documentary evidence serves as a hanger from which to assess oral testimony. The Court placed reliance on its decision in ODUNLAMI v NIGERIAN NAVY (2013) LPELR-20701 (SC) (PP. 32 PARAS C. In the result, the Court held that an examination of Exhibit 6C or F clearly shows that the Appellant signed money for himself and not on behalf of the Governor’s aides. The conflict in the oral testimonies before the trial court as to the purported disbursements must therefore, be resolved to the effect that the Appellant did not give the Governor’s aides the money allocated to them as he claimed, based on the content and representation in Exhibit 6C or F. The court held further that in line with the principle that the burden is on the prosecution in a criminal charge to establish the guilt of an accused person beyond reasonable doubt, the evidence before the trial court showed beyond reasonable doubt that the Appellant made a false statement regarding the disbursement of money to those particular security aides for the fuelling of their vehicles. The Court of Appeal was thus, right, to affirm the Appellant’s conviction on count 1 of the charge.

Appeal Dismissed. Representation Dr Olukayode Ajulo, Esq. with Tauyyib Kayode Shittu, Esq. and Patrick Emmanuel, Esq. for the Appellant O. G. Iwuagwu, Esq., Chief Legal Officer ICPC, with Z. S. Oass, Esq. CLO ICPC for the Respondent Reported by Optimum Publishers Limited, Publishers of the Nigerian Monthly Law Report (NMLR)(An affiliate of Babalakin & Co.)

TueSday, DECEMBER 5, 2023 • T H I S D AY

NEWS

Lagos State Attorney-General and Commissioner for Justice, Lawal Pedro, SAN

Inspector General of Police, Kayode Adeolu Egbetokun

Late Ilerioluwa Aloba aka Mohbad

The Honourable AttorneyGeneral and Commissioner for Justice, Lagos State, Mr Lawal Pedro, SAN is set to present a new book. The public presentation of the book titled ‘The Supreme Court of Nigeria: History, Establishment, Jurists & Speeches’ is scheduled on hold on Wednesday, December 13, 2023 at Providence Hotel, Oba Akinjobi Way, GRA Ikeja, Lagos State at 11 am. According to the press release from the Office of the Attorney-General and personally signed by Mr Pedro, the book foreword written by the Chief Justice of Nigeria,

The press release concludes that the "classical book as so described by the Chief Justice of Nigeria,

composition and jurisdiction. It brings up to date the Roll Call of the Justices of the Supreme Court with over 40 Valedictory

Lagos A-G to Present Book on Supreme Court Hon. Justice Olukayode Ariwoola, GCON will have as Chief Launcher, the Governor of Lagos State, Mr Babajide Olusola Sanwo-Olu. While the Book Public Presentation and Lecture will be chaired by Chief Wole Olanipekun, SAN, the former NBA President and immediate past Chairman of the Body of Benchers, Mr Adeola Ipaye, former Deputy Chief of Staff to the President of Nigeria, will review the book. Dr Kemi Pinheiro, SAN will deliver the Public Lecture titled ‘Supreme Court : The Past, The Present and The Future’.

highlights the Supreme Court as the highest in the hierarchy of courts in Nigeria, its history, establishment,

Mohbad: Police Name Prime Suspect The Lagos Police Command has revealed what led to the death of popular singer, Ilerioluwa Aloba aka Mohbad. The Command has also revealed that the Auxiliary Nurse, who treated the Singer is a prime suspect in the Singer’s death. The Lagos State Police Commissioner, Idowu Owohunwa, gave the update concerning the

ongoing investigation into the Singer’s demise in a press briefing on Friday afternoon. The Police said that from the result of the autopsy and investigation carried out, the Singer died as a result of injuries that he sustained during a fight with his friend, Primeboy. It was noted that Mohbad didn’t treat the injury, despite

Security: Nigeria Police Force Introduces Digital Central Motor Registry In continuation of its commitment to safeguarding the nation, protecting citizens’ lives and property, and maintaining law and order, while recognising the increasing challenges posed by vehicular crimes, the Nigeria Police Force (NPF) has introduced a new digital Central Motor Registry to enhance security. In a statement signed by Force Public Relations Officer, ACP Olumuyiwa Adejobi, he noted that over 60 years ago, the Central Motor Registry (CMR) was established as a fundamental tool for managing motor vehicle information. However, the evolution of vehicular crimes in the digital age demands a modernised and expanded approach. Consequently, the NPF has revitalised the

#upjudicialsalaries

CMR by introducing digitalisation to align with the realities of contemporary policing. The digitalisation of the Central Motor Registry (CMR) by the Nigeria Police Force, brings several significant advantages and benefits for the general public: 1. Enhanced Security: Citizens can have greater confidence in the security of their vehicles, with the digital CMR in place. The availability of accurate and real-time vehicle information will assist in preventing and quickly resolving vehicular crimes, ensuring that citizens’ valuable assets are protected. 2. Efficient Law Enforcement: The Police will be better equipped to enforce motor vehiclerelated laws, including registration and licensing.

Speeches of the retired Justices of the Supreme Court, that may not be found in any other publication".

This will lead to safer roads and improved traffic management, ultimately benefiting all road users. 3. Crime Deterrence: The comprehensive database of motor vehicles, will act as a deterrent to potential criminals who might intend to use vehicles for illegal activities. The knowledge that law enforcement has access to accurate information, can discourage criminal behaviour. 4.Expedited Investigations: In cases involving accidents or disputes related to motor vehicles, the digital CMR will expedite investigations, providing swift resolutions and reducing inconvenience for citizens. 5. National Security: Maintaining accurate vehicular information,

significantly contributes to national security. It ensures that vehicles associated with criminal activities can be tracked and addressed promptly, bolstering overall security efforts. The Nigeria Police Force however, called upon all Nigerians to embrace this transformative initiative, by enrolling their vehicles in the digital Central Motor Registry (CMR), to actively participate in enhancing security and creating a safer environment for all. “To begin, please visit [CMR Digital Registration](https:// cmris.npf.gov.ng), and register your vehicle today. Together, we can make our roads and communities safer for everyone”, the statement noted.

several pleas by his wife and other friends. The Police further stated that when Mohbad finally got treatment, it was from an Auxiliary Nurse who was described as a quack. His body reacted negatively to the treatment, and it led to the deceased convulsing before he was confirmed dead. The Nurse is mentioned as the prime suspect in the death of Mohbad, because she went beyond her limitation to administer drugs and injections that led to the eventual death of the Singer. Mohbad’s father, Joseph Aloba, had previously said his son passed away after receiving an injection administered by the Auxiliary Nurse. CP Owohunwa said the “Auxiliary Nurse administered multiple and highly potent injections, which triggered an immediate reaction that eventually occasioned the death of Mohbad”. According to the CP, the injections, consisting of Tetanus Toxoid, Paracetamol, and Ceftriaxone, were administered at Mohbad’s residence. “At about 14:35hrs of 12th September, 2023, Miss Feyisayo, the Nurse, eventually arrived. Armed with one pack of

Ceftriaxone injection, one Paracetamol injection…. , several needles, and syringes”, he said. “Miss Feyisayo administered the drugs…. “Mohbad started vomiting, while goosebumps appeared on his face, Mohbad was reacting to the administered medications. “Five suspects have so far been identified, arrested, detained, and interrogated on their alleged roles in the sequence of events that led to the death of the Singer”, the CP added. On whether Naira Marley and Sam Larry were involved, the Police explained that both of them were not in the country at the time of the event that led to Mohbad’s death, as the location stretched between Ikorodu and Lekki. It will be recalled that the Lagos State Police Command, on Wednesday, placed a bounty of N1 million and declared Owodunni Ibrahim aka Primeboy wanted, following his failure to honour the Police invitation sent to him since the commencement of the investigation into the circumstances leading to the death of Singer, Ilerioluwa Aloba, popularly known as Mohbad.

“The Committee observed the absence of distinction in the salary arrangements between newly appointed judicial officers to the Bench of the relevant court, and those who have served several years on the Bench…..The Committee finds merit in the proposal, to distinguish long serving judicial officers from newly appointed entrants to the Bench.” - NBA Working Committee on Judicial Remuneration and Conditions of Service

TueSday, DECEMber 5, 2023 • T H I S D AY

Talking Constitutional democracy PROF mike ozekhome, san

0809 889 8888 SMS Only

Law as a Vehicle for Good Governance and National Integration in Nigeria (Part 8)

zones such that the indigenes of a particular zone shall not constitute less than 15 per cent or more than 18 per cent; (c) within a zone, the indigenes of a particular State shall not constitute less than 12 per cent or more than 15 per cent in the case of North Central and North West; not less than 15 per cent or more than 18 per cent in the case of North East, South South and South West; and not less than 18 per cent or more than 22 per cent in the case of South East; (d) appointments into the leadership of all Ministries, departments, full‐time commissions, public corporations and tertiary institutions, the armed forces, police and other security agencies shall be done such that each State or zone shall be represented equitably in accordance with the appropriate formula. 4. Equitable and proportional representation of leadership in Federal Ministries. The leadership of Federal Ministries shall comprise the Permanent Secretary, Directors, Deputy Directors and Assistant Directors, and equivalent positions in other relevant agencies and shall be such that they do not come from the same zone. At the level of Director down to Assistant Director, there shall be an equitable and proportional representation of both the zones and the States of the Federation within each zone.

Introduction n the seventh part of this treatise, we reviewed the mechanisms for fostering good governance and national integration in Nigeria such as federalism, amalgamation, Nigerianisation/Indigenisation, State creation, the Land Use Act, the NYSC Act and Constitution, after which we delved in Non-performing Government Functionaries. Today, we shall continue and conclude on Nonperforming Government Functionaries – the Federal Character Commission, the National Orientation Agency. We shall then examine the status of Abuja as the nation’s capital, as well as the National Policy on Tertiary Education and Unity Schools. Please, read along. Non-Performing Government Functionaries (Continues) National Orientation Agency (NOA) The National Orientation Agency has also proved to be critical change agent mid-wifed by the law, which has contributed to the ongoing effort at welding the different constituent parts of Nigeria into a seamless whole. Amongst others, the functions of the Agency (vide Section 3(1) of the enabling law) are: i) to establish social institutions and frameworks for deliberate exposure of Nigerians to democratic norms and values for virtue, peaceful, united, progressive and disciplined society; ii) energise the conscience of all categories of Nigerians to their rights and privileges, responsibilities and obligations as citizens; iii) orientate the populace about power, its use and the proper role of the Federal Government in serving the collective interest of Nigerians. The Federal Character Commission (FCC) The Federal Character Commission Act, Cap.F.7, LFN, 2010 aims to foster national integration through the provisions of Section 4(1)(a)-(g) which outlines the functions of the Commission, thus, inter alia; (1) The functions of the Commission shall be‐ (a) to work out an equitable formula, subject to the approval of the President, for the distribution of all cadres of posts in the civil and the public services of the Federation and of the States, the Armed Forces, the Nigeria Police Force and other security agencies, bodies corporate owned by the Federal or a State Government and Extra-Ministerial Departments and parastatals of the Federation and States; (b) to promote, monitor and enforce compliance with the principles of proportional sharing of all bureaucratic, economic, media and political posts at all levels of government; (c) to take such legal measures including the prosecution of the heads or staff of any Ministry, Extra-Ministerial Department or agency which fails to comply with any federal character principle or formula prescribed or adopted by the Commission; (d) to work out (i) an equitable formula, subject to the approval of the President, for distribution of socio-economic services, amenities and infra structural facilities; (ii) modalities and schemes, subject to the approval of the President, for redressing the problems of imbalances and reducing the fear of relative deprivation and marginalisation in the Nigerian system of federalism as it obtains in the public and private sectors; etc. These provisions are complemented by the Guidelines, Principles and Formulae for the Distribution of all Cadres of Posts, a subsidiary legislation made pursuant to Section 4(1)(a) of the parent FCC Act referred to above.

Paragraphs 1, 2, 3, 4, 5, 6, 7 and 8 of Part 1 of the Guidelines provide thus, respectively; 1. Each State of the Federation and the Federal Capital Territory, shall be equitably represented in all national institutions and in public enterprises and organisations. 2. The best and most competent persons shall be recruited from each State of the Federation, to fill positions reserved for the indigenes of that State or the Federal Capital Territory. 3. Once a candidate has attained the necessary minimum requirement for appointment to a position, he shall qualify to fill a relevant vacancy reserved for indigenes of his State or the Federal Capital Territory. 4. Where the number of positions available cannot go round the States of the Federation or the Federal Capital Territory, the distribution shall be on zonal basis, but, in the case where two positions are available, the positions shall be shared between the northern and the southern zones. 5. Where the indigenes of a State or the Federal Capital Territory are not able to take up all the vacancies meant for them, the indigenes of any other State(s) or the Federal Capital Territory within the same zone shall be given preference in filling such vacancies. Provided that, where the zone to which the preference is given fails to take up such vacancy, the indigenes from any other zone shall be considered for the appointment. 6. Each State shall produce 2.75 percent

“The Abuja - capital project as a point of national integration has been bastardised by scrupulous elements, and rendered almost a sham. Today, complaints abound as to the domination of the nation's capital by the Northern elites - a ‘revengeful project’ ”

of the total work force in any Federal establishment, while the Federal Capital Territory shall produce 1 percent for the indigenes of the Federal Capital Territory, provided that, the Commission may adopt a range so that the indigenes of any State of the Federation shall not constitute less than the lower limit or more than the upper limit of the range as set out in paragraph 12 (a). 7. In the case of distribution on zonal basis, the Commission shall adopt another range such that the indigenes of a particular zone shall not constitute less than the lower limit or more than the upper limit of the range as set out in paragraph 12 (b). 8. The six zones shall each consist of the following, that is (a) North Central Benue, Federal Capital Territory, Kogi, Kwara, Nasarawa, Niger, Plateau; (b) North East Adamawa, Bauchi, Borno, Gombe, Taraba, Yobe; (c) North West Jigawa, Kaduna, Kano, Katsina, Kebbi, Sokoto, Zamfara; (d) South East Abia, Anambra, Ebonyi, Enugu, Imo; (e) South South Akwa lbom, Bayelsa, Cross River, Delta, Edo, Rivers; (f) South West Ekiti, Lagos, Ogun, Ondo, Osun, Oyo. Also relevant are the provisions of Paragraphs 3, 4, 5 and 6 of Part 3 of the Guidelines which provide thus, respectively; Application of partial principles Career Posts(a) the indigenes of a State of the Federation shall constitute not less than 25 per cent or more than 3 per cent of all officers including junior staff at the head offices of any national institution, public enterprise or organisation. In the case of branches or local offices, not less than 75 per cent of these categories of staff shall be indigenes of the catchment area; (b) where the number of vacancies are not sufficient to go round the 36 States of the Federation and the Federal Capital Territory the vacancies shall be shared among the

Nation's Capital (FCT) The geographical placement of a nation's capital, has a critical role to play in national integration. The capital of Nigeria was Lagos; but, same was moved to Abuja, in order to cure tribal sentiments and upheavals. A nation's capital, should not be at the exclusive or dominant preserve of a particular tribe. Hence, the relocation of the capital to Abuja. Bulama noted that, the underlying tribal considerations were vividly enunciated in the Report of the Committee on the location of the Federal Capital Territory. The report stated inter alia that: There is no doubt that Nigeria is a Federation, consisting of a large number of ethnic and language groups with differing culture and traditions. Now, Lagos is within an area traditionally belonging to one of the major ethnic groups, namely, the Yoruba ... In our view, the circumstances of Nigeria demand that the capital be not situated within a city the type of Lagos with strong connection with one of the major ethnic groups. The Abuja - capital project as a point of national integration has been bastardised by scrupulous elements, and rendered almost a sham. Today, complaints abound as to the domination of the nation's capital by the Northern elites - a ‘revengeful project’. National Policy on Tertiary Education (Unity Schools) Nigerian tertiary education system, was another strategy of National Integration. Nigerian Universities were viewed as a means of integrating the diverse interests and identity. Taking solace from the National Policy on Education, Akpan asserted that for universities to serve as effective instruments for cementing national unity: (i) The quality of instruction in Nigerian Universities would be improved with a view to further enhancing objectivity and tolerance; (ii) University development would ensure a more even geographical distribution, to provide a fairer spread of higher educational facilities; (iii) Admission of students and recruitment of staff into universities and other institutions of higher learning, would be on a broad national basis; (iv) Universities would be required to develop teacher and student exchange programmes, to improve both inter-university communication and knowledge of the country; (v) And widespread ignorance among Nigerian groups about each other and about themselves would be remedied by instituting a compulsory first year course in the social organisation, customs, culture and history of the nations and its peoples. Several years after, the system is mesmerised, as some universities have exceeded their 30% locality quota, and many admitting indigenes of their locality. Therefore, for the university system to be a strategic National Integration factor, internal challenges should be addressed and monitored. (To be continued).

VII

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images

ast Monday, November 27, 2023, 58 Lawyers were elevated to the rank of Senior Advocate of Nigeria at the Supreme Court, Abuja. Here are some of the ‘New Silks’, and others who were present at the event

New Silk, Folashade Alli, SAN

New Silk, Olayemi Badewole, SAN

L-R: Babatunde Ogala, SAN; New Silk, Kunle Agbebi, SAN and Richard Oma Ahonaruogho, SAN

New Silk, Omoyemi Akangbe, SAN

New Silk, Mrs Funmi Falana, SAN (left) and her Husband, Human Rights Activist, Femi Falana, SAN

L-R: Senator Bode Olajumoke; Deji of Akure, HRM, Oba Dr Aladetoyinbo Ogunlade Aladelusi, Odundun II; New Silk, Kayode Ajulo, OON, SAN and his wife, Mrs Kofoworola Ajulo

New Silk, Folashade Alli, SAN (left) and former Attorney-General of Ekiti State, Olawale Fapohunda, SAN

L-R: Publisher of The Creed, John Austin Unachukwu; New Silk, Oseloka Osuigwe, SAN and former General Secretary of the NBA, Mazi Afam Osigwe, SAN L-R: New Silk, Mrs Funmi Falana, SAN; her Son, Folarin Falana aka Falz and Femi Falana, SAN

L-R: Chief Emeka Obegolu, SAN; New Silk, Paulyn Abhulimen Okpalefa, SAN; Muyiwa Atoyebi, SAN and Mazi Afam Osigwe, SAN

Former Chairman of ICPC, Prof Bolaji Owasanoye, SAN (left) and current Chairman, ICPC, New Silk, Dr Musa Adamu Aliyu, SAN

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Chief Layi Babatunde, SAN

‘Electorate Shouldn’t be Made Onlookers in Election Outcomes’ The Judiciary has undoubtedly played the role of a stabilising factor, in Nigeria’s democracy. But, in recent times, this role has been questioned by the public, on account of a few pronouncements, especially by the appellate courts.. For precedent setting judgements, law reporting is an absolute requirement. Lawbreed has since 1999, published quality reports of Supreme Court judgements, and other law publications. Onikepo Braithwaite and Jude Igbanoi caught up with Chief Layi Babatunde, SAN, the Editor-in-Chief of the Supreme Court Reports published by Lawbreed Limited and author of “Dark Hearts”, a compilation of short stories based on actual court cases. In this interesting interaction, the learned Senior Advocate spoke about a myriad of issues and challenges in the publishing sector, and also his concerns about the polity

earned Silk, not only are you an advocate, you are very involved in legal publications. You are the Chairman of Lawbreed Ltd, the Publishers of Supreme Court Law Reports, and also the

author of a book titled ‘Dark Hearts’ which is a compilation of short shocking stories that are actually based on real life court cases. Tell us about your journey as a legal practitioner, what led you

“I became the Editor-in-Chief of Supreme Court Reports (S.C. Reports) in 1999, when the Supreme Court of Nigeria magnanimously granted us the permission to resume the publication of Judgements of Nigeria…..”

to get involved in legal publications and also to write Dark Hearts I was called to the Bar in Nigeria over four decades ago, and and conferred with the esteemed rank of Senior Advocate of Nigeria in 2004. I have always been engaged with advocacy practice, and added Arbitration practice to it down the line. Part of my interest, is to help the Practitioner and the courts in the performance of their respective duties, especially knowing that decisions of UK courts, particularly England, have become merely persuasive in our jurisprudence. I became the Editor-in-Chief of Supreme Court Reports (S.C. Reports) in 1999, when

the Supreme Court of Nigeria magnanimously granted us the permission to resume the publication of Judgements of Nigeria adopting it’s official citation - S.C. which simply means, Supreme Court. Apart from editing the Supreme Court judgements, I have authored other publications, one of which you referred to: Dark Hearts (a collection of shocking short stories based on actual court cases). The publication of Dark Hearts was informed by the need to take to the general public some of what goes on in our superior courts, especially the Supreme Court, that would ordinarily have remained buried in Law Reports. Come to think of it, how many non-Lawyers, laymen, as we call them, buy Law Reports just to

TueSday, DECEMber 5, 2023 • T H I S D AY

coVER ‘Electorate Shouldn’t be Made Onlookers in Election Outcomes’ be informed of the goings on in the courts? Perhaps, only cases of public interest covered by the media such as yours, attract public attention. However, there are very important decisions being rendered by the courts, that impact our daily lives. Decisions that we can be guided by and profit from, in our daily living. What I have done, is to render some of those judgements in simple prose for the benefit of Lawyers and non-Lawyers alike. For instance, there is the pathetic case of a ten year old who became a victim of kidnapping and eventual death in circumstances which show that, perhaps, the outcome would have been different if the school he attended had paid more attention to their security arrangements. I am encouraged by the feedback so far. Some have expressed the feeling that, they never realised that Lawyers and Judges go through so much, and are doing that much for the benefit of the society and indeed, mankind. One of the good things about our judicial system, is that in Dark Hearts, the Law caught up with the bad guys! Plagiarism has become the bane of Law Publishers. What has been the experience of Lawbreed? How do you counter plagiarists? Plagiarism is not peculiar to publishing in Nigeria. However, the law is more alive in some climes to punish and minimise such defiant behaviour bordering on economic sabotage, than it is in our country. I remember when I published the second edition of a practice book: ‘The Lawyers’ Companion’ meant to be released at an Annual General Conference of the Nigerian Bar Association, where we were one of the Sponsors of the Conference. I was shocked to find pirated copies of the yet to be released book at one of the Conference Exhibition stands! I won’t tell you what I did, to make them pack up and go. I believe there is the need to further empower the Copyright Commission, and fund their activities adequately. The Police needs to be educated, to appreciate the fact that intellectual theft is a serious crime, if not more serious than a criminal that breaks into a store to unlawfully remove their wares. I am not sure if ordinarily, any Police Station will seriously attend to such a complaint, except perhaps, they are being mobilised to execute an Anton Piller order

Chief Layi Babatunde, SAN

issued by the court. Kindly, tell us about The Layi Babatunde Case Law Series, and how it can assist Lawyers The Layi Babatunde Case Law Series, as with my other publications, is a helpful hand maid to Legal Practitioners and the court. The series are in 23 Volumes covering diverse areas of the Law, from Evidence to Words and Phrases as handed down by the Supreme Court of Nigeria. They are not meant to be substitutes of Law Reports, but complimentary. As the final court on any legal disputation, I believe that it is important for legal practitioners to be acquainted with the principles of law, as distilled and set out by the Supreme Court. I want to believe, for instance, that what the Supreme Court says a particular word means in a legislation or an agreement in a given situation or circumstance, carries greater weight than how an English dictionary defines such words generally. This explains the Case Law Series on Words and Phrases, as handed down

“A system whereby the electorate are made onlookers in the eventual outcome of whom they wish to choose to represent them, should not be the norm as it appears to be presently”

by the Supreme Court. As an aside, I used to order my Practice Diary faithfully from a bookstore in England, until one day on a flight from the UK, I took time to review the Diary and concluded that the information about British weather and underground stations have no bearing on my life in Nigeria; so, I came up with an indigenous SC Report Diary, with information and materials relevant to our practice environment. This is the background to, and approach to my publishing endeavour. We appreciate the positive response of our colleagues and the Bench, to our modest contributions. Most are of the view that the Supreme Court is overburdened; that it is not only a question of appointing more Justices to the Apex Court, but that there are many appeals, some of which should not lie to the Supreme Court. Take for example, election petitions; that we should revert to the time when only the Presidential election petitions went to the Supreme Court, that all others should terminate at the Court of Appeal. That appeals from the Sharia Court and Customary Court should end at their Courts of Appeal or at the most, the Court of Appeal, since constitutionally, they do not even have criminal jurisdiction. What are your views on this? The problem is perhaps, deeper than meets the eye. The starting point, is to thoroughly examine why supplicants want to take their search for justice to the highest avenues possible. An appeal up to the Supreme

Court is no child’s play and it costs more than peanuts to do that, except in pro bono cases. Without an understanding of the problem, prescribing a solution may miss the point. So, one will need to strike a balance between those who are in search of justice, and those whose burden it is to render the justice being sought. One practical problem that has become manifest even in the last and on-going dispensation, is the issue of conflicting judgements emanating from different divisions of the Court of Appeal on similar matters. Unless such contradictions are resolved at a higher level, the doctrine of judicial precedent lays comatose. With due respect, it is not as if the Supreme Court has been completely free of such conflicting judgements, but the law allows you to fall back on the latter of the judgements. In the situation we have found ourselves, it may be better to leave things things as they are in terms of exercising right of appeal to the Supreme Court, with a rider that such appeals be with the leave of the Supreme Court. Being heard on whether or not leave should be granted is still, in my view, preferable to being completely locked out of Nigeria’s highest court. The Supreme Court can filter it’s docket, through this process. In that event, practitioners before the court would have to realise, as is done in other climes, that being granted leave to appeal is not a walk in the park. Most importantly, we must find a way to moderate the involvement of the Judiciary in the electoral process. A system whereby the electorate are made Cont'd on page X

TueSday, DECEMber 5, 2023 • T H I S D AY X coVER ‘Electorate Shouldn’t be Made Onlookers in Election Outcomes’

Cont'd from page IX

onlookers in the eventual outcome of whom they wish to choose to represent them, should not be the norm as it appears to be presently. Unfortunately, because of the burden of proof cast by law on a Petitioner, and other extenuating circumstances, the outcome of most petitions, can hardly be free of controversies. Election petitions and their outcomes, either out of ignorance of the law or otherwise, are giving the Judiciary a bad name, and it’s an issue that all stakeholders must address headlong, in the interest of our fledgling democracy and the future of our country. It is unfortunate that, the hard work of our Judges are being rewarded with doubt and suspicion. The Judiciary should not be dragged into politics. The people’s will expressed freely, must be respected at all times. There is no other way, to practicing democracy. So much has been said about the state of the Nigerian Judiciary, from the opaque method of appointment of Judges, decline in standards Chief Layi Babatunde, SAN of judgements, to lack of so- called sitting Judge independence of the Judiciary, ought not to have been poor remuneration of judicial a Lawyer, but he became officers to mention but a few. a Judge. While we have Kindly, share your thoughts moved further away from on what you think may be the that ugly past, there is no solutions to these issues. Will doubt that much work still the method of appointment needs to be done, in order judicial officers help to resolve to continuously improve on some of these problems, or are the system of appointment you satisfied with the present and ensuring performance appointment process of judicial on the job. officers? Given the blight that Appointment to the Bench has trailed the integrity of should not be an end in judicial officers recently, what itself, nor reward to political kind of Justices would you like associates . Only the best, to see at the Supreme Court ought to adorn our Bench . to fill the vacant positions? Practically every NigeLest we forget, the Abacha rian election in the Fourth administration set up what is Republic has been fraught generally referred to as the Justice with controversy, from Esho Panel on the Judiciary. Even accusations against INEC, though the Committee’s Report to allegations of election which was submitted sometime rigging, vote buying, in 1994 did not see the light of questionable candidates day, it’s Chairman confirmed in - the list of complaints an interview that he granted a is endless. The election national newsmagazine, that one petitions imbroglios, are of their most ugly findings was no better. What do you that a sitting Judge who claimed believe is the panacea to have had a BSc from London for the conduct of better School of Economics & Political Science and an LL.B from elections? University College, London, in Between the Electoral fact, possessed none of those Act 1962 and that of 2022, degrees. According to Justice a number of amendments Esho, of blessed memory, the have been introduced to

“Lest we forget, the Abacha administration set up what is generally referred to as the Justice Esho Panel on the Judiciary. Even though the Committee’s Report which was submitted sometime in 1994 did not see the light of day….”

our electoral process, but we are yet to attain the desired results of rancour free, free and fair elections. Let us go back to the Justice Uwais Panel Report, which recommended the unbundling of INEC and shifting the burden of proof on INEC where an election conducted by it is challenged, among other recommendations. The Panel identified poverty and corruption, as some of the factors militating against the conduct of free and fair elections and thereby, frustrating the will of the people. Unfortunately, the poverty index is worsening. We should not sow apples, and expect to reap berries. The Report submitted in December 2008, is still true today as it was then. As a follow up to the previous question, what is your opinion about the controversial Court of Appeal judgement in the Kano Gubernatorial Election case? Do you think it was a clerical error correctable by means of the “Slip Rule”, or that it goes beyond that? As Editorin-Chief of one of Nigeria’s leading Law Reports, how do you report this kind of judgement? What precedent can it set? How can it be cited? Given that this is a live issue in a pending appeal, I am constrained as a senior member of the Bar to be cautious. However, there are several decisions of the Supreme Court on such matters, that remain binding precedent. You were once quoted as saying that visits to Chief Judges by some Government agencies is unethical. What

informed your position? I said this at a Lecture delivered at a programme organised by the NBA Ikeja. The context in which I made that statement was that the head of one of the Federal Agencies visited the then Chief Justice of Nigeria, and it was reported that the head of the agency claimed he visited the CJN to seek his support, and by extension, that of the Judiciary towards their debt recovery efforts. I felt that it was wrong, because it was not his business to lobby the Judiciary or tell them how to do their job. That will be the day when Landlord Associations, Tenants Associations, or even Bank debtors will form themselves into associations and seek to lobby the Judiciary to be on their side, no matter the perceived self-righteousness of their cause. His audacity In even talking to the press about his worrisome pursuit, alarmed me. On no account should anyone give the impression, that the Judiciary is at the beck and call of the Executive. Your recent postulation on what you termed ‘fast-food advocacy’ has raised serious eyebrows. Kindly, shed some light on this I was referring to the practice of some Lawyers citing cases by reference to headnotes in Law Reports, without recourse to reading the judgements and understanding the court’s reasoning behind such judgements. The Supreme Court of Nigeria has deprecated this practice severally, but, unfortunately, the practice persists. It is not good for our profession and justice delivery. Thank you, Learned Silk.

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XIII

TUESDAY, DECEMBER 5, 2023 • T H I S D AY

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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 01Dec-2023, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 293.83 293.83 55.87% Afrinvest Plutus Fund 100.00 100.00 9.75% Nigeria International Debt Fund 337.46 337.46 4.75% Afrinvest Dollar Fund 109.73 109.73 6.01% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 13.04% AIICO Balanced Fund 4.79 4.88 41.09% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.03% Anchoria Equity Fund 183.29 185.70 26.45% Anchoria Fixed Income Fund 1.24 1.24 0.54% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 29.51 30.40 34.46% ARM Discovery Balanced Fund 649.81 669.41 24.67% ARM Ethical Fund 53.65 55.27 18.91% ARM Eurobond Fund ($) 1.17 1.17 4.00% ARM Fixed Income Fund 1.15 1.15 3.38% ARM Money Market Fund 1.00 1.00 10.12% ARM Short Term Bond Fund 1.06 1.06 2.50% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 103.33 103.33 13.58% AVA GAM Fixed Income Naira Fund 1,122.46 1,122.46 4.81% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 192.78 194.14 42.92% AXA Mansard Money Market Fund 1.00 1.00 11.32% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.22 2.22 9.45% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.98 3.05 33.80% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.04 1.04 7.53% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CHD Nigeria Bond Fund N/A N/A N/A CHD Nigeria Dollar Income Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 10.17% Cordros Milestone Fund 163.40 164.48 27.10% Cordros Fixed Income Fund 106.87 106.87 10.32% Cordros Halal Fixed Income Fund 108.64 108.64 11.06% Cordros Dollar Fund ($) 113.74 113.74 6.05% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn N/A N/A N/A Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 13.26% Emerging Africa Bond Fund 1.10 1.10 10.03% Emerging Africa Balanced Diversity Fund 1.27 1.27 26.43% Emerging Africa Eurobond Fund 106.98 106.98 5.80% 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 1533.68 1533.68 11.85% FBN Balanced Fund 259.73 261.94 40.75% FBN Halal Fund 132.41 132.41 13.38% FBN Money Market Fund 100.00 100.00 10.96% FBN Dollar Fund 123.25 123.25 7.40% FBN Smart Beta Equity Fund 234.55 237.58 55.23% FBN Specialized Dollar Fund 111.02 111.02 9.17% 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 9.00% Legacy Debt Fund 3.57 3.57 -0.22% Legacy Equity Fund 2.65 2.65 31.39% Legacy USD Bond Fund 1.32 1.32 4.69% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund 5,457.42 5,497.43 32.35% Coral Income Fund 3,973.94 3,973.94 7.69% Coral Money Market Fund 100.00 100.00 11.77% FSDH Dollar Fund 1.19 1.19 5.82%

GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Guaranty Trust Money Market Fund N/A N/A N/A Guaranty Trust Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Guaranty Trust Equity Income Fund (VEIF) N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.78 1.81 15.60% Lotus Halal Fixed Income Fund 1,204.22 1,204.22 10.02% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 17.35 17.49 48.35% Meristem Money Market Fund 10.00 10.00 12.48% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 103.66 103.66 11.92% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.90% Norrenberger Dollar Fund (NDF) ($) 103.15 103.15 11.23% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 2.03 2.07 28.96% PACAM Fixed Income Fund 11.94 12.15 7.65% PACAM Money Market Fund 10.00 10.00 8.88% PACAM Equity Fund 2.08 2.10 46.04% PACAM EuroBond Fund 128.06 131.08 14.94% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital The Frontier Fund 152.87 157.62 21.61% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund N/A N/A N/A STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 4,796.10 4,838.97 41.55% Stanbic IBTC Bond Fund 255.41 255.41 8.42% Stanbic IBTC Ethical Fund 1.99 2.01 58.73% Stanbic IBTC Guaranteed Investment Fund 350.38 350.51 11.92% Stanbic IBTC Iman Fund 366.08 370.38 56.71% Stanbic IBTC Money Market Fund 1.00 1.00 10.99% Stanbic IBTC Nigerian Equity Fund 17,330.96 17,544.87 58.75% Stanbic IBTC Dollar Fund (USD) 1.46 1.46 12.72% Stanbic IBTC Shariah Fixed Income Fund 127.60 127.60 9.14% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 125.08 125.08 17.58% Stanbic IBTC Absolute Fund 4,972.34 4,972.34 16.88% Stanbic IBTC Aggressive Fund 5,095.63 5,159.02 83.28% Stanbic IBTC Conservative Fund 5,151.55 5,175.57 35.38% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.27 1.28 38.68% United Capital Balanced Fund 1.78 1.79 37.13% United Capital Wealth for Women Fund 1.36 1.37 26.19% United Capital Sukuk Fund 1.17 1.17 11.53% United Capital Fixed Income Fund 1.94 1.94 6.89% United Capital Eurobond Fund 123.79 123.79 5.55% United Capital Global Fixed Income Fund 1.08 1.08 8.47% United Capital Money Market Fund 1.00 1.00 10.56% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 18.14 18.34 30.91% Zenith ESG Impact Fund 21.53 21.76 36.24% Zenith Income Fund 25.30 25.30 7.42% Zenith Money Market Fund 1.00 1.00 11.25% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 7.45 7.55 84.70% Vetiva Consumer Goods Exchange Traded Fund 11.37 11.47 93.80% Vetiva Griffin 30 Exchange Traded Fund 25.59 25.79 44.46% Vetiva Money Market Fund 1.00 1.00 10.50% Vetiva Industrial Goods Exchange Traded Fund 27.73 27.93 38.57% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 147.83 149.83 -6.26%

REITS

NAV Per Share

Yield / T-Rtn

N/A 55.89 101.79 9.99

N/A 5.41% -12.52%

Bid Price

Offer Price

Yield / T-Rtn

20.98 460.00 639.99 21.12 32.82

23.19 460.00 639.99 21.46 33.22

42.25% 257.36% 534.60% 49.88% 87.19%

NAV Per Share

Yield / T-Rtn

N/A

Fund Name

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

EXCHANGE TRADED FUNDS

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

I N F R AST R U CT U R E F U N D

Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

XIV 4

T H I S D AY

TUESDAY DECEMBER 5, 2023

EDITORIAL

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

THE CASE FOR ADR MECHANISM There is need to settle many of our disputes outside the courtroom

the judicial system has almost rendered useless the he plea by the Chief Justice of Nigeria basic tenets of rule of law as courts of coordinate (CJN), Justice Olukayode Ariwoola, jurisdiction render different opinions on similar that Nigerians should be more disposed facts. With that, they make a mockery of the pillar to alternative dispute resolution upon which the operational British legal system instruments to free the courts from was built. Those who rely on ADR to resolve their unnecessary cases is not new. Perhaps disagreements are likely to spend less money more interesting is that it was the fascination by compared to those who choose the adversarial the manner disputes were amicably resolved by court system. ADR is also convenient to use as African people through mediation and arbitration it allows parties and their witnesses to take their during the colonial era that made the British time. It may dispense with oral hearings and rely authorities to integrate the Alternative Dispute only on documents. Apart from being convenient, Resolution (ADR) into their legal system. This is it is also flexible; much unlike litigation which is therefore the time for a reconsideration of the idea very rigid. that served African people well in the past and Perhaps the most compelling argument for ADR could be the gamechanger in justice administration is that it is most suitable in the country. for our environment. Indeed, Ariwoola is Being conciliatory in merely re-echoing what nature, parties are not The most compelling argument for ADR is that it is most suitable for his predecessors have likely to become enemies said without making any our environment. Being conciliatory in nature, parties are not likely to after their disagreement efforts to institutionalise has been resolved. When the idea. For instance, become enemies after their disagreement has been resolved three arbitrators render while responding to an opinion on a dispute, a remark by former their decision is likely Vice President Yemi to be correct and should T H I S D AY Osinbajo that the ‘crawling’ judicial process posed ordinarily enjoy more acceptability than the EDITOR SHAKA MOMODU a nightmare for investors in the country, then CJN, DEPUTY EDITORS WALE OLALEYE decision of a judge. Again, because ADR takes Walter Onnoghen, also advocated that ADR could MANAGING DIRECTOR ENIOLA BELLO advantage of modern technology in resolving help to hasten the disposition of cases. Another DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU disputes, it is more precise, efficient, and fast. former CJN, Mahmud Mohammed had made the CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI Today, judges spend a long time in determining EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN use of ADR one of his major pre-occupations. He cases to the detriment of the rule of law in the THE OMBUDSMAN KAYODE KOMOLAFE promoted the idea of evaluating judges based on the country. number of cases decided through ADR in addition However, despite the foregoing, many people to the number of cases determined through the remain sceptical of the efficacy of ADR hence the formal legal system. So, it is not as if the idea is preference for taking matters to court. Enforcement novel. The main challenge is to address whatever T H I S D AY N E W S PA P E R S L I M I T E D is perhaps the biggest challenge. Since it is not yet EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA impediments there may be in its implementation institutionalised, there is always the possibility that GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, and get Nigerians to embrace the idea. ISRAEL IWEGBU, EMMANUEL EFENI those who get unfavourable verdicts in arbitration The efficacy of the ADR should not come as a DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, could resort to the regular court thus making the surprise to anyone in our country who has had a ANTHONY OGEDENGBE entire exercise a waste of time. Yet, all factors bitter experience while trying to get the courts to DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI considered, we subscribe to the growing position SNR. ASSOCIATE DIRECTOR ERIC OJEH determine their case. In a milieu where a case could that under our current circumstance, mediation ASSOCIATE DIRECTOR PATRICK EIMIUHI take up to 30 years to conclude, going through the and arbitration may help in the amicable resolution court system in Nigeria is not only time consuming CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO of judicial conflicts in our country. but also very expensive. Besides, corruption within 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 WIKE: USE THE 15BN TO FIX STREET LIGHTS

It will make better sense for the monies (N15bn) that the federal government says it wants to spend to ‘renovate’ the residence of the Vice President to be spent on decaying infrastructure in Abuja. A good first step should be the street lights right in the city centre of Abuja. Presently, it is a matter of misplaced priorities for only one citizen of the Federal Republic of Nigeria to have all of that money spent on ‘renovating’ his residence while our collective home looks like a dark jungle at night. What the federal government should be telling Nigerians is that it wants to contribute to defraying the election expenses of Mr VP rather than to insult our sensibilities to say it wants to build a new residence for the VP with N15 billion. Fix the darkness in Abuja instead of this financial recklessness and mismanagement of public funds. Bob Etemiku, Abuja

TO WRITE OR NOT TO WRITE, THAT IS THE QUESTION At a recent writers group meeting we discussed the use of A.I. in creative writing with an initial attempt at poetry giving sentences that did rhyme but lacked soul. Rather than writing new material I asked different A.I. programs to improve some existing material. With Wordworth’s “Daffodils” ChatGPT and Bard rewrote the poem whereas Bing gave some suggestions on how to improve it. With Hamlet’s Soliloquy ChatGPT and Bard again rewrote the speech, but Bing recognised the piece and said that it was “not easy to improve such a masterpiece” and only gave suggestion on delivering the speech.

Should we be concerned that A.I. tried to improve these classic pieces or that it couldn’t? The real worry however is that if we were to unleash more possibilities and control it might rewrite computer code such as the missile control systems to make them faster to respond and easier to use which might not be a step forward. A.I. is the modern Pandora’s Box except that the box is well and truly open and there might not be a “Hope” note at the bottom. The rewrites were not an improvement. Dennis Fitzgerald, Melbourne, Australia

T H I S D AY • TUESday DECEMBER 5, 2023

FEatures

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

How Savannah Energy is Enhancing Academic Access through the SEE-IT Programme

Precious Ugwuzor writes that Savannah Energy is positively impacting students and teachers in Nigeria’s education sector with its SEE-IT Programme

L-R: Idorenyin Jacob, winner of the Grand Mentor Award in Biology; Nkoyo Etuk, Head of Stakeholder Relations and Regional Manager, South East, Savannah, Nigeria; Pade Durotoye, Managing Director, Savannah, Nigeria, and Unyime Ime, winner of the Grand Mentor Award in Chemistry, during the Savannah Energy Education and Internship Training (SEE-IT) Programme/2023 Annual Teachers/Scholarship Award held in Uyo, Akwa Ibom State, recently

he story of the educational journey of Gift Monday Kiddy, a visually impaired 100-Level Music undergraduate of the University of Uyo, Akwa Ibom State is one that inspires. From a very young age, he was determined to, in his words, “scrape out this mindset of being a beggar on the street”, and to get the best education he could have. With such determination, one that is rare in these parts, and gifted with intelligence, he worked hard through primary and secondary school and, today, he is an undergraduate at one of the top federal government-owned universities. To crown it all, he has just won a full university education scholarship, courtesy of the Savannah Energy Education and Internship Training (SEE-IT) programme. The programme, a collaboration between Accugas Limited, the midstream subsidiary of Savannah Energy, and the Inoyo Toro Foundation, a non-profit educational foundation based in Akwa Ibom State, is aimed at enhancing access to quality education in Akwa Ibom and Cross River States. The scholarship packages cover full tuition, accommodation, textbooks and living costs for the duration of the beneficiaries’ university education in Nigeria. An overjoyed Kiddy told this writer: “I’m so privileged to be a recipient of this scholarship. It is mind-blowing. I was not expecting it up to this extent. It is surprising that the scholarship covers my keyboard KZ 900, and my laptop which will make my studies flexible as a visually impaired”. Kiddy was just one of the 50 students from Akwa Ibom State to benefit from the programme. Another beneficiary with similar a touching story is Winifred Wisdom Effiong, a 100-Level English Language/ Literary Studies student of Akwa Ibom State University. An orphan, she has had a very tough upbringing, and has been residing in one of International Federation of Women Lawyers (FIDA) shelter homes in Uyo. Today, thanks to the SEE-IT programme, she has one less thing to worry about her university education expenses. The significance and impact of this is not lost on Effiong. “It wouldn’t have been easy

because I never thought of seeing myself in the university. I’m so happy for this great privilege, all thanks to Savannah Energy and the Inoyo Toro Foundation,” she said, almost in tears. For many of the other recipients, the scholarship award is not only God-sent, but timely too. An example is Larry Bassey David, a first-year Medicine/Surgery student at the University of Uyo, whose moving story also highlights the significance of the programme. He had gained admission the same year as his sister. However, due to financial challenges, he was on the verge of deferring his own admission so she could continue her studies. “It has been tough, because my sister is also in the university. We got admitted at the same time, and the course I’m studying is financially challenging. So, words can’t describe how happy I am. I really want to say a big thank you to Savannah Energy and the Inoyo Toro Foundation for helping in lifting this heavy load from us,” David said. David, Effiong, Kiddy and the 47 other beneficiaries, who were selected through a rigorous screening process led by university professors, were presented with the scholarships during the SEE-IT 2023 Annual Teachers/Scholarship Award held in Uyo, Akwa Ibom State recently. However, the students weren’t the only ones who benefited from the programme, as SEE-IT also presented awards to 19 secondary school teachers, three principals

and five mentors of secondary school teachers, who have positively impacted their pupils in Akwa Ibom State public secondary schools. The awards covered five subjects namely, Biology, Chemistry, English, Mathematics and Physics. The SEE-IT programme is a laudable development for the teaching profession especially in Nigeria’s public schools where teachers contend with several challenges such as poor remuneration, irregular payment of salaries, inadequate training, lack of basic teaching equipment, among others. An initiative like this will help to increase the morale of teachers and motivate them to work harder, which will result in improved performance by their students for the good of Nigeria and the world. Speaking during the event, Pade Durotoye, Managing Director, Savannah Energy, Nigeria, reiterated the importance of education which, he said, is not only a key part of the company’s sustainability strategy, but one that is integral to its purpose, which is to meaningfully contribute to the development of the communities where it operates. “Education is an important part of Savannah’s sustainability strategy, where our first pillar focuses on promoting socioeconomic prosperity within the countries in which we operate. As a company, we have invested over US$1bn in Nigeria, especially in the South East, to deliver Projects that Matter. " We are delighted and proud to be able to impact so many lives and I am particularly pleased that we are offering full university education scholarships to the 50 students until they graduate,” he said. But the company is not stopping there. According to Durotoye, the company plans to add more students to the scholarship programme every year. “We plan to add

The SEE-IT programme is a good example of how private sector intervention can help the government to drive the growth of education in Nigeria through the motivation of teachers and award of scholarships to brilliant but indigent students

more students to the SEE-IT scholarship programme every year as we see this as an important investment in one of our country’s greatest future resources, the young people around us. What we are hoping to do, in partnership with the Inoyo Toro Foundation, is to support our society to deliver excellence in education, accessible not only to those who can afford the high fees in private institutions, but also to those in our public schools", he added. The Governor of Akwa Ibom State, His Excellency Governor Umo Eno, who was represented by Idongesit Etiebet, Commissioner for Education, commended the initiative and urged other world-class individuals and organisations to “rise to the challenge and emulate the laudable gesture of Savannah Energy, in collaboration with Inoyo Toro Foundation, by investing in the education of our children, who represent the future of our state and our country.” The annual event, he noted, has become a reference point in Public-Private Partnership arrangements in the education sector of the state since inception, particularly in areas of scholarship awards to students and the recognition of the immense contributions of hard-working teachers and principals of public secondary schools in the state. “Your demonstration to launch a fully funded scholarship award to accommodate 50 students of Akwa Ibom State origin, admitted into public or private universities in Nigeria, as well as a conferment of excellence awards on teachers who excelled in the teaching of Biology, Chemistry, English Language, Mathematics and Physics, deserves commendation,” Governor Eno said. On the screening process for the awards, Professor Enobong Joshua, Chairman of the Screening Committee, Inoyo Toro Foundation, said that written and oral interactions were handled according to established rules and procedures with transparency and integrity. According to him, the expert facilitators were carefully selected from the academia and the public sector. The SEE-IT programme is a good example of how private sector intervention can help the government to drive the growth of education in Nigeria through the motivation of teachers and award of scholarships to brilliant but indigent students.

XVI

TUESDAY, DECEMBER 05, 2023 • T H I S D AY

polity

Budget 2024: Making Ogun a Giant Construction Site Kayode Akinmade

ATCHERS of developments in Nigeria’s Gateway State would not have been surprised as the key deliverables itemized by the state governor, Prince Dapo Abiodun, when he laid the N703.03b n 2024 budget proposal for before the state House of Assembly last week. A breakdown of the “Budget of Sustained Growth and Development” shows that it has N287.37 bn and N415.66 as recurrent and capital expenditures, respectively. The specifics: N95.05 bn will take care of personnel costs, N27.35 bn is projected as consolidated revenue, while N59.09 bn will cover public debt charges. With N105.88 bn for overhead cost and N415.66 bn for capital expenditure, the appropriation bill projects a lofty16 per cent (N109.219 bn) for education and 12 per cent (N81.185 bn) for health. The sum of N28.886 billion (4 per cent) will go into housing and community development, with N14.218 billion (2 per cent) for agriculture and industry, while N209.122 bn (30 per cent) is allocated to infrastructure. Others are N22.872 bn (3 per cent) for recreation and culture, N28.692 (4 per cent) for social protection, while general public service, executive organ will gulp N31.125 billion, etc. The key point to note is that the expenditure policy of the government is designed to achieve the strategic objectives of the Ogun State Economic Development Plan and Strategy 2021 – 2025, including fiscal sustainability, human development, food security, improved business environment, energy sufficiency, improving transport infrastructure, and promoting industrialization focusing on Small and Medium Scale Enterprises. Said Governor Abiodun: “The physical capital projects in the 2024 budget include; Light up Ogun Project to include procurement and installation of transformers statewide whilst partnering with the private sector to experience uninterrupted power supply in 24 months. The hosting of the 2024 Ogun National Sports Festival. Construction, rehabilitation, and maintenance of roads across the state including major ones such as Lagos–Ota-Abeokuta Expressway; Ofada-Owode Road, Lagos Garage - Ikangba - Ilese Road, Ota-Lafenwa-Itele-Ayobo Road; Ita Oshin - Ibara Orile - Ijoga Orile - Ibooro - Imasayi Road OPIC Estate Internal Roads, Agbara, 250km Statewide construction in all three (3) senatorial districts road infrastructure to support the 2024 Ogun National Sports Festival.” In 2024, the government is focusing on the

Ogun State Governor, Dapo Abiodun construction of infrastructure at the various economic development clusters, while extending the Lagos Blue Line Metro Rail Project into Agbara and ensuring the well extension of the Lagos Red Line Metro Rail Project to Ijoko and Ifo/ Kajola in line with the execution of the State’s multi-modal transport plan under the Lagos-Ogun Joint Development Commission initiative.

Given the massive transformation ongoing in many parts of Ogun State, the key highlights and underpinnings of the Budget 2024 aimed at giving a fillip to Ogun’s emerging status as a giant construction site and Nigeria’s top investment destination have not come as a surprise to the populace. In the last four and a half years, the state has witnessed infrastructure revolution: connecting parts of the state to the capital, the neighbouring states and the outside world through rail, road network and air has been a top priority of the Abiodun administration. For one thing, the Agrocargo International Airport, a specialized facility designed to ease the movement of agricultural produce and create new jobs, generate revenue, and improves food security, is already proving to be a game changer in reversing the damning statistics by the Nigerian Export Promotion Council (NEPC), namely that Nigeria’s agriculture industry suffers an estimated N3.5 trillion in post-harvest losses every year. Where agripreneurs can quickly and easily transport fresh produce to local/ international markets faster, increased profitability is guaranteed. The airport is expected to create over 25,000 direct and indirect job across the agriculture, transportation, logistics, hospitality, tourism and other sectors. Beyond facilitating the movement of agric produce, the airport strategically located the along Iperu-Ilishan road in Ikenne Local Government Area of the state and designed to handle imports, exports and passenger traffic will reduce post-harvest losses, facilitate inter-regional and international connectivity for agro produce, increase Ogun State’s forex earnings, and attract massive investments to the state. In just a matter of weeks, commercial activities will start at the airport city. Speaking on the airport, Governor Abiodun said: “With the longest runway, the biggest apron and control tower, the cargo airport is destined to be the best in the country. We have been approached by cargo companies that now want to relocate to Nigeria , simply because they have seen the size of our apron at the airport, which is 84,000 square metres. It is four or five times larger than the largest cargo airport in Nigeria. “These cargo-based companies have now decided that once the airport is ready, they will be flying their cargoes that are destined for Nigeria to that airport, and from our airport, they will

now be trans-shipping the cargoes to the other parts of Nigeria and even West Africa. And when you look at all those that would be involved in these cargo operations in the distribution and in running of our airport from the agro-producing zone and to the Aerotropolis, you can just imagine the economic impacts and the number of jobs that will be created. The impact will resonate in the entire economy, not just this country but the entire Africa.” The fact is generally uncontested that Ogun is now an investors’ destination: the recent global meeting in Cairo, Egypt, showed that most of the investors that showed interest in Nigeria are actually looking at Ogun State. The way Ogun State is positioned as an investment destination given its proximity to Lagos has also earned it a lot of respect and interest from business experts who are coming to Nigeria to invest. With the kind of budgetary provision for infrastructure, education, agricultural revolution, among others, it is clear that the Abiodun administration has brought a lot of transformation to Ogun State. Only last week, Governor Dapo Abiodun, during a breakfast meeting with Chief Executive Officers of the organised private sector (OPS) OPS in Abeokuta, gave indication of plans to construct the Olokola Deep Seaport located in Ogun Waterside Local Government Area of the state with a view to providing another opportunity for companies in the state to easily convey their goods and equipment, taking advantage of the almost completed Gateway Agro-Cargo International Airport, and the planned dry port to be located at Kajola, an outskirt of the state capital. It cannot but be cheering news that Ogun under Abiodun will join league of oil-producing states soon. In preparation for this new status, the administration has already established the Ministry of Mineral Resources saddled with the responsibility of overseeing the general administration and operation of the natural resources that abound in the state, and the Ministry of Energy to take advantage of the constitutional amendment that allows sub-national governments to participate in the energy sector. But there’s more: the administration will construct over 2,000 housing units in Warewa, Sagamu, Iperu, Ibara, Ayetoro Road, OGTV Village, Ijebu-Ode, etc, and ensure water reticulation projects to connect more households to potable water supply, having completed the Urban Water Supply Project. And that is the point: budgeting for total transformation. •Akinmade is Special Adviser on Media and Strategy to the Governor of Ogun State.

Olubunmi Tunji-Ojo’s 100 Days of Redefining, Redesigning and Renewing Ministry of Interior At 41 years and seven months, the Minister of Interior, Olubunmi Tunji-Ojo’s exposure and experience transcend his age. His expansive mien, measured gait and intrinsic dedication to nation and humanity sum up his unalloyed commitment to his fatherland. Decked in a black suit and a contrasting white shirt and red tie, Tunji-Ojo’s bespectacled face beams as he ensures the Nigerian Immigration Service clears 204,000 passport applications within two weeks and helps facilitate the release of 4,068 inmates incarcerated in custodial centres across the country for their inability to pay court-imposed fines. Tunji-Ojo’s ingenuity is an eloquent testimony of transformative achievements in his first 100 days as Nigeria’s interior minister, Femi Salako writes

n a resounding testament to unwavering dedication and a visionary approach, Olubunmi Tunji-Ojo has completed an extraordinary 100 days at the helm of Nigeria’s Ministry of Interior. His tenure has been marked by a series of groundbreaking achievements that have reshaped the landscape of service delivery, reformed policies, and placed the welfare of Nigerian citizens at the forefront. At 41 years and seven months, Tunji-Ojo’s exposure and experience transcend his age. His expansive mien, measured gait and intrinsic dedication to nation and humanity sum up his unalloyed commitment to his fatherland. Decked in a black suit and a contrasting white shirt and red tie, Tunji-Ojo’s bespectacled face beams as he ensures the Nigerian Immigration Service clears 204,000 passport applications within two weeks and helps facilitate the release of 4,068 inmates incarcerated in custodial centres across the country for their inability to pay court-imposed fines. Tunji-Ojo’s ingenuity is an eloquent testimony of transformative achievements in his first 100 days as Nigeria’s interior minister. Swift resolution of passport backlogs: Tunji-Ojo exhibited exceptional efficiency by swiftly resolving a backlog of 204,000 passport applications within two weeks at the Nigerian Immigration Service. This monumental accomplishment underscores his commitment to expeditious service delivery for Nigerian citizens. Innovative e-platforms for visa processing: Spearheading revolutionary reforms, Hon. Tunji-Ojo introduced user-friendly e-platforms for visa applications, allowing passport photo uploads via the immigration portal. This initiative promises increased accessibility and convenience for Nigerians seeking visas. Enhanced e-passport facilities abroad: The unveiling of enhanced e-passport facilities in key Nigerian Embassies across Europe is a testament to his commitment to

Olubunmi Tunji-Ojo improving service capabilities for Nigerian citizens abroad, particularly in Spain, Greece, Austria, Switzerland, and Italy. Advocacy for equitable salaries: His advocacy for fair compensation for paramilitary officers and the proposal for a pension board for various security services highlight his dedication to ensuring better welfare and equity within the sector.

Criminal justice reform and rehabilitation: Collaborative efforts led to releasing 4,068 inmates from correctional centres, showcasing his commitment to rehabilitation and social justice through strategic partnerships and financial assistance. The minister of interior and stakeholders facilitated the release of 4,068 inmates incarcerated in custodial centres for their inability to pay off fines handed to them as punitive measures by the courts across the country. While flagging off the payment recently at Kuje Maximum Security Correctional Centre Abuja, the minister said the effort was to decongest the country’s custodian facilities and make the inmates humane for proper reformation and rehabilitation of offenders. “As of November 17, 2023, there were about 80,804 inmates nationwide, with installed capacity of less than 50,000, which shows that our custodian facilities are overcrowded, necessitating this initiative we are flagging up today, which is targeted towards addressing overcrowding bedevilling our custodian centres and reformatory function,” Tunji-Ojo explained. The interior minister assured that the released inmates would receive stipends to return to their communities, train for requisite skills at impacting their lives functionally, and equip them with knowledge for their self-reliance, with the training covering their civil duties and responsibilities as citizens and also as strategy refraining them from offending the law. The minister, therefore, called on the communities to receive the freed inmates with open arms, devoid of stigmatising them. He admonished the released inmates to see the opportunity as a second chance

to make things right. He urged them to join hands with President Bola Tinubu to make Nigeria great. Moreover, Tunji-Ojo’s tenure has witnessed an unprecedented promotion of 32,361 personnel across the Nigeria Correctional Service, Nigeria Immigration Service, Federal Fire Service, and Nigeria Security and Civil Defence Corps. This move underscores the commitment of the #RenewedHope government of the president in prioritising the welfare of officers, a feat unprecedented in the history of paramilitary service in Nigeria. Tunji-Ojo’s 100 days as minister of interior serve as a testament to his innovative vision, unwavering commitment to service, and tireless pursuit of reform for the betterment of Nigerian citizens. His leadership continues to pave the way for transformative change, setting new standards of excellence and dedication in public service. Born May 1, 1982, Tunji-Ojo is an accomplished business management and consulting executive with over 17 years of experience across public and private sectors. His expertise spans project management, strategic planning, and policy-making, covering diverse sectors such as oil and gas, IT, agriculture, finance, and manufacturing. He holds degrees in Electrical and Electronics Engineering and Digital Communication and Networking from esteemed institutions. He also holds 18 professional qualifications, including being among the first Certified Ethical Hackers from the UK’s Royal Britannia Training Academy. He was a House of Representatives, Ninth Assembly member, representing Akoko North-East/ North-West federal constituency. He served briefly in the 10th assembly following his second term reelection before being nominated as a minister by President Bola Tinubu.

THI S DAY • Tuesday, December 5, 2023

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

D e c e m b er

S & P INDEX

4 , 2 0 2 3

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

19.12%

INDEX LEVEL

611.31%

1/4 to daTE

-0.07%

N795.28/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT Monday, July 24, 2023

3-MONTH

15.75%

MONTH-TO-DATE

-0.7%

Nigeria Tops List of Vulnerable PetroStates as Energy Transition Threatens to Wipe Out $8tn Revenues by 2040

Emmanuel Addeh in Abuja Nigeria’s over-dependence on revenues from oil and gas production could critically cripple government operations by 2040, wiping out an income of $8 trillion from the revenues of 28 ‘petrostates’, a new report by Carbon Tracker, an energy financing, environment and climate change Think Thank, has indicated. According to the document themed: “Petrostates of Decline: Oil and Gas Producers Face Growing Fiscal Risks as Energy Transition Unfolds,” the risks for petrostates like Nigeria are now

higher than ever. A petrostate is a country which heavily relies on the export of oil and natural gas, and whose economies are almost entirely dependent on oil, meaning that any fluctuations in oil prices will cause significant economic shockwaves. Although the contribution of Nigeria’s oil sector to Gross Domestic Product (GDP) has fallen from almost 10 per cent in 2019 to 5.34 per cent in Q2, 2023, due to massive underperformance, the country still earns over 90 per cent of its foreign exchange from the sector. The report found that petrostates

are facing substantial risks from the energy transition, as falling oil and gas demand is set to put downward pressure on commodity prices and place future government revenues in jeopardy. While a handful of countries have reduced their vulnerability, overall, 28 of the 40 petrostates analysed by Carbon Tracker, including Nigeria still remain too exposed to revenues from hydrocarbons and therefore still highly at risk. “Petrostates face major shortfalls in future revenue streams. Twenty eight of the 40 petrostates would lose more than half of expected revenue under a moderate-paced transition

in line with governments’ current climate pledges “(Also), $8 trillion worth of expected revenue would be wiped out between now and 2040, with different petrostates affected in significantly different ways. “We categorise countries’ vulnerability into five tiers, reflecting the combination of their revenue shortfall and the dependence of government budgets on oil and gas revenues...African petrostates – including Nigeria, Angola and Chad – make up the majority of the ‘highest tier’ countries,” the report said. In November 2021, the then

President, Muhammadu Buhari committed Nigeria to a net zero scenario for carbon emissions on behalf of Nigeria, pledging that the country will hit the mark by 2060. It’s unclear how Nigeria will achieve it as the country continues to shop for new investments in fossil fuels. But the report described Africa’s case as particularly concerning, given the continent’s rapidly growing populations and existing development challenges, exacerbated by rising climate impacts. “While some petrostates appear low-risk according to our two key metrics, they may still be vulnerable in a wider economic context, as

indicated by high fiscal breakeven prices,” Carbon Tracker stated. It stated that the highest-cost producers face the largest revenue losses per barrel, but that the lowestcost producers – such as those in the Middle East – would also lose significant revenue under the moderate-paced transition scenario compared to any expectations under a slow transition. “Peaking oil and gas demand should make petrostates think twice about new investments,” the report added. NOTE: The story continues online on www.thisdaylive.com

Sanwo-Olu, Oyetola Receive Grimaldi’s Largest Container-RORO Vessel Eromosele Abiodun In a development that signaled a new vista for Nigeria, the largest container-RORO ship to visit Nigeria and the West African subregion, MV Great Lagos, berthed at the Tin Can Island Port in Lagos yesterday. MV Great Lagos, which is on its maiden call to Nigeria’s largest multipurpose roll-on-roll-off (RORO) terminal, the Port Terminal Multipurpose Limited (PTML) at the Tin Can Island Port Complex, Lagos, is owned by the Grimaldi Group.

Speaking at a reception organised to celebrate the maiden call of the ship, the Minister for Marine and Blue Economy, Adegboyega Oyetola, said the successful berthing of the vessel testified the dedication of the Nigerian Ports Authority (NPA) and PTML to enhance efficiency at the port. The Minister commended Grimaldi Group and PTML for deploying the vessel to Nigeria and for adding value to the Nigerian economy. Represented by the Permanent Secretary of the Ministry, Dr. Magdalene Ajani, he pledged

his commitment towards creating an enabling environment for the growth and development of Nigeria’s maritime sector. Otetola, said the present administration was also developing sound policies for the sector even as it promised to pursue vigorously, the development of shipping, maritime and related sectors with a view to ensuring sustainable development. “As MV Great Lagos continues to voyage, let us collectively embrace the spirit of adventure and exploration. May every voyage be a testament to the resilience and

Food

indomitable spirit that propels us forward into uncharted territories. May MV Great Lagos bring prosperity and success to all who are involved in this journey,” the minister added. He said the successful arrival of the vessel was a testimony of the dedication and commitment of the PTML to push general cargo component with a view to enhancing the quality of service delivery. He commended the dedicated crew on board the vessel for their commitment towards ensuring the successful delivery of the vessel

Commodities

name of commodity

Size

State

Price

name of commodity

Rice

100kg

Abuja

N35,000 – N45,000

Sorghum

50kg

oyo

50kg

Plateau (Jos)

Price

without any incident, which he said was purely due to their professionalism and expertise. For his part, Lagos State Governor, Mr. Babajide Sanwo-Olu, represented by his Deputy, Dr. Obafemi Hamzat, said the visit of the MV Great Lagos to Tin-Can Island Port was an expression of the confidence of the international community in Nigeria. He also commended the Grimaldi Group for its investment in Lagos State. He noted that the arrival of the vessel not only signified the delivery and achievement of the nation’s shared vision, but also

the strength of Nigeria’s alliances in the world of commerce. He also commended the Grimaldi Group for its investment in Lagos State. Also, the Managing Director, Nigerian Ports Authority (NPA), Mohammed Bello-Koko, said apart from the high loading capacity and several other distinctive features of the vessel, the authority was fascinated by the great attention to environmental impact that was infused into its construction. NOTE: The story continues online on www.thisdaylive.com

T o d ay

State

Price

name of commodity

Size

State

Price

100kg JIGAWA

N30,000

B EAN S

N35,000 – N45,000

Benue

N32,000

Maidu guri

N22,000 – N30,000

100kg

50kg bag

N32,500 – N42,000

100kg

Kaduna

N32,000

100kg Lagos

N36,000

50kg

kwara N24,000–N27,000

50kg

Enugu

N24,000

100kg

Kano

N35,000

50kg

Lagos

N35,000 – N45,000

50kg

Lagos

N26,000

50kg

rivers N36,500 – N46,500

Delta

N36,000

Delta

N35,000

100kg

50kg

sokoto

N60,000 – N70,000

100kg

Abia

N36,000

100kg

Abia

N35,700

Size

• Tuesday, December 5, 2023 • T H I S D AY

BUSINESSWORLD

News

R-L: Managing Director, PTML Terminal, Mr. Ascanio Russo; Lagos State Head of Service, Mr. Bode Agoro; Deputy Governor of Lagos State, Dr. Obafemi Hamzat; Captain of MV Great Lagos, Captain Facondini Graciano; and the Opeluwa of Lagos, Chief Aderibigbe Lateef, who represented Oba Rilwan Akiolu, at the reception to celebrate the maiden call of MV Great Lagos to Nigeria at PTML Terminal, Tin-Can Island Port, Lagos… yesterday.

NTU-SBF: Nigeria losing over $14bn Yearly to Farmer-Herder Crisis

Gilbert Ekugbe

A report by Nanyang Technological University (NTU) and the Singapore Business Federation (SBF) Center for African Studies has stated Nigeria is losing over $14 billion annually to the ongoing farmer-herder conflict. This was obtained from the public presentation of a 10 year roadmap for Nigeria tagged, “Back to Growth: Priority Agenda for the Economic Revival of Nigeria,” launched by NTU-SBF in Lagos.

According to the report, in 2021, it was reported that more than 300,000 farmers had been displaced and 1,800 killed in the conflict, adding that the threat of violence, murder and kidnapping has forced many smallholder farmers to abandon their farms, resulting in loss of harvest. The report stated that inadequate post-harvest facilities infrastructure in farming areas is limited where less than 15 per cent of rural roads are in good condition, which limits

farm connectivity, maintaining that approximately 45 per cent of the population has no access to electricity. The report also cited the importance of smallholder farmers, saying that they make up over 80 per cent of Nigeria’s farming community. It added, “This is partly due to a poor fang tenure system. Most of these smallholder farmers engage in subsistence and nonirrigated farming, which limits

the investment capacity of the sector. Additionally, despite the agriculture sector contributing some 40 per cent of Nigeria’s GDP and employment, only 2 per cent of the government budget was allocated to agriculture in 2020.” On fertiliser use in Nigeria, it stated that 14kg per hectare is low in comparison with the global average 146kg per hectare, also pointing out the shortage of 320,000 metric tonnes of seeds. “Broken supply chain is largely

TCN: New Facility to Reduce Grid Collapses Operational in Q4 Next Year Emmanuel Addeh in Abuja The Transmission Company of Nigeria (TCN) has assured the public of the completion of the World Bank-sponsored Supervisory Control and Data Acquisition (SCADA) system

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

deployment project by the end of the forth quarter of 2024 The chairman of the TCN steering committee on the implementation of the World Bank SCADA/EMS and Telecommunication project, Balarabe Abdullahi, gave the assurance at a meeting to evaluate the work of the committee in Abuja. SCADA is a system that allows for perfect monitoring and control of field devices at a

remote location, a statement by the General Manager, Public Affairs of the TCN, Ndidi Mbah, said. She stressed that when deployed, it will help TCN to monitor and control activities of electricity generating companies, distribution companies and the transmission network. Commending members of the committee for their efforts towards ensuring the smooth implementation of the project, Abdullahi who is also the General

Palm oiL

tractors nationwide. Only 3 per cent of farming is mechanised. That translates to just two tractors per thousand hectares.

FG Vows to Combat Food Inflation with Production of 31m Tonnes of Grains in 2024 Gilbert Ekugbe The Ministry of Agriculture and Food Security has announced plans to combat food inflation, provide job opportunities and reduce poverty with the production of 31 million tonnes of grains in 2024. The Minister of State for Agriculture and Food Security, Aliyu Sabi Abdullahi, said the production of 31 Million MT of Grains in 2024 is also coming on the heels of President Bola Ahmed Tinubu’s emergency on food security. The Minister stated this at the opening session of the 6th edition of Seed Connect Conference and Exhibition with the themed “Global declaration of food emergency – The role of the seed industry and ensuring Africa’s food and nutrition security’’.

Abdullahi stated that Nigeria’s seed requirement need for 5 major crops of Rice, Maize, Wheat, Soyabeans and Sorghum in 2024 is 312,555.69MT of seeds which is expected to give almost 31 million metric tonnes of grains. In his welcome address, the Acting Director General, NASC, Dr. Ishiak Khalid, said that this year’s event has been dedicated to the global declaration of food emergency and the role of Africa’s seed sector in creating a sustainable food system to ensure access to nutritious and affordable food both now, and in the future. Khalid stated that NASC will also be convening a national seed planning to bring stakeholders to plan for the 2024 planting season and how to achieve the national seed requirement.

It was multiple recognitions for Dufil Prima Foods Limited when the company’s flagship brand Indomie bagged several awards in different categories of the most coveted Advertisers Association of Nigeria, ADVAN, Awards for Marketing Excellence (Africa) 2023. The ADVAN Awards for Marketing Excellence is Nigeria’s most prestigious award to recognize and celebrate outstanding creativity and impact in brand marketing and activation as well as to reward marketing professionals who have made significant mark in the profession. Indomie won this year’s Consumer Choice Awards – This was based on consumers online

vote; Consumer Promo of the year with its “Indomie Golden Magnet Promo”, and Digital Campaign of the year through the “Show some love Mother’s Day Campaign”. The Group Corporate Communications and Event Manager, Dufil Prima Foods Limited, Mr Tope Ashiwaju, expressed appreciation, noting that the company had always been driven towards creating value and prioritizing excellence. He said, “In attaining our goals of marketing strategy, we have consistently applied innovative marketing principles, leveraging the passion points of the consumers to generate real measurable success for our various brands.

FAO Extols USA’s $50m Funding Indomie Shines at ADVAN to Boost Food Production in Africa African Awards 2023 Gilbert Ekugbe

The Food and Agriculture Organization of the United Nations (FAO) has commended the United State of America for its commitment to pledge a $50 million new funding to boost food production in Africa. In a statement obtained from its website, FAO said the $50 million is an addition to the $100 million committed earlier in the year. According to the statement, the new funding is for the innovative Vision for Adapted Crops and Soils (VACS) programme, which aims to identify and develop neglected but climate-resilient crops for use in agriculture around Africa.

The U.S. Secretary of State, Antony Blinken announced the new funding at the Leaders’ Event tagged, “Transforming Food Systems in the Face of Climate Change,” at the ongoing UN Climate Change Conference COP28 in Dubai. “We are working with partners to rethink what, where and how we produce food within the context of a changing climate. Our goal is for farmers and for ranchers to be able to sustainably achieve better yields of more nutritious crops at lower cost, using less land and producing fewer emissions. That’s the vision,” Blinken said. “And it is also the mission of the Vision for Adapted Crops and Soils, or VACS,” which the

Food name of commodity

Manager, Technical Services of the TCN, said all will soon be set for the full deployment of the new SCADA system. He stated that the deployment will help reduce most of the challenges associated with efficient supply of electricity in the country. According to him, the steering committee has worked tirelessly with the contractor and staff of TCN across the country to identify possible challenges that can hinder execution of the project.

to blame. Currently less than 10 per cent of cultivated land is planted with improved seed varieties. There are less than 50,000 servicable

U.S. State Department launched in partnership with FAO and the African Union a few months ago,” Blinken added. The FAO Chief Economist Maximo Torero, said these fresh new resources will greatly help to accelerate a very promising programme that could have rapid and lasting impact on the ground. Currently around one in five people in Africa face chronic hunger, and the climate crisis is likely to exacerbate the situation. Revitalizing indigenous and traditional food crops, many with high nutritional value but orphaned with the increasing popularity of staples such as maize, rice and wheat, presents a critical opportunity, according to FAO.

C o m m o diti e s

P r ic e

T o day

name of commodity

Size

State

Price

name of commodity

Size

State

Price

name of commodity

Size

Location

Price

Groundnut

100KG Kano

N20,500

ONIONS

100kg

Ibadan

N60,000

MAIZE

100kg

Oyo

N10,000

N24,000 – N35,000

100KG Benue

N27,000

100kg KANO

N30,000

100kg Enugu

N16,500

25cl Ibadan N22,000 — N35,000

100KG Lagos

N32,000

100kg BENUE

N65,000

100kg delta

N14,000

100kg Plateau

N45,000

100kg

Abia

N11,000

100kg DELTA

N50,000

50kg

Lagos

N9,000

Size

State

Price

25cl Lagos N20,000-N35000 25cl

25cl

IMO

N24,000 – N36,500

25cl

Edo

N20,000 – N35,000

25cl Abuja N25,500 – N35,000

100KG Delta

N34,000

100KG

Abia

N27,000

100kg LAGOS

N60,000

100kg Kano

N9,400

100KG Enugu

N23 000

100kg ENUGU

N45,000

50kg

N6,000

Benue

• Tuesday, December 5, 2023 • T H I S D AY

BUSINESSWORLD

Interview

Jacob: Technology Will Remain Crucial in Bridging Financial Gap In this interview, the Chief Executive of Zest, a subsidiary of Stanbic IBTC Holdings, Stanley Jacob, speaks on the importance of evolving technology in the fintech ecosystem to bridge the financial inclusion gap, how to increase funding to the sector and how his firm is positioned to boost the SMEs across Nigeria. Nume Ekeghe presents the excepts: The fintech ecosystem has witnessed a reduction in foreign investment. How best can industry players localise fundraising and tap into disruptions in the ecosystem to scale and sustain business offerings? ifferent parameters have led to a drop in investment in the fintech ecosystem, but landmark deals are still reached regardless. In 2022, African startups raised a record $5.4 billion, with more than a third of the money going to financial service companies. But in Q1 2023, fintech investments in Africa declined year-on-year by 17 per cent. Nigeria was Africa’s most active country for fintech deal-making in Q1, with 12 deals, a 32 per cent share of total deals. In Q2 2023, African FinTech deal activity witnessed a decline of 31%. But there’s a strong belief that introducing more players into the ecosystem can reverse these declines. Indeed, players in the tech space need to take advantage of disruptions. For instance, PayTech was Africa’s most active FinTech subsector during Q2 2023, with 16 deals. Regarding industry verticals, payments, transfers, and lending account for 81 per cent of funding and are the fastest-growing sectors. We’re seeing the entry of the likes of Zest in Nigeria into the ecosystem, coming with a pool of disruptions opening up the ecosystem. The future remains bright for Africa, and local investors are seeing these opportunities and are positioning to tap into them with enough capital to match what Silicon Valley is offering.

How best can fintech players tap into AI, automation and blockchain technology to drive growth in the ecosystem, seeing that the government is tapping into these to open up the markets? The commitment from the government to utilise opportunities in the AI and technology space is evident. The appointment of a minister of innovation and digital economy, the first member of the startup community to reach a government position, highlights the sector’s importance to Africa’s biggest economy. This is a step in the right direction as it helps to de-risk the sector for investments. Fintechs and the government’s adoption of technology and AI in Nigeria reflect the deliberate intention to remain the leading African country. It addresses challenges such as payments, integration, unemployment, etc. Despite the many untapped opportunities, digital transactions have become part of everyday life in most parts of the country, mainly due to the level of acceptability. Payments are the basis for development across the board, and technology will continue to be crucial in bridging the financial gap, enabling a faster, safer, and more inclusive system. What is the significance of Zest in the rapidly evolving business space? The modern business space is rapidly evolving, with businesses seeking better ways to operate and interact with their customers. The pursuit of growth and expansion is ceaseless. Businesses of all sizes are constantly looking for digital solutions and platforms that can propel them into new territories and access new network of customers. We unveiled Zest and started commercial operations in June 2023 and went above the line in October 2023, providing payment solutions, e-Commerce and lifestyle offerings for businesses and consumers. At the centre of this execution, we ensured that Zest maintains a visionary approach to design and innovation, positioning it as a trailblazer that would set the standards for true platform orchestration in Nigeria. How does Zest, as the fintech subsidiary of Stanbic IBTC Holdings, differentiate itself in the market? Additionally, how does Zest’s multi-railed payment gateway and customizable e-Commerce storefront contribute to its goal of providing a seamless and integrated platform for businesses and

Jacob consumers? Zest is at the epicentre of new partnerships, better experiences in payments and customised solutions delivery for the Stanbic IBTC group. When customers use Zest, they experience better; better with payments, better with selling, better with integrations, firmly aligning with our tagline – ‘go for better’”. Zest has successfully delivered a multirailed payment gateway that offers customers multiple payment options (cards, transfers, QR, USSD, ApplePay, GooglePay, and others), and recently validated its pioneering spirit as the first fintech to go live on accepting the AfriGO domestic cards in Nigeria. The gateway platform provides a robust dashboard for business analytics, helping businesses make insight-based decisions. Zest provides the customisable eCommerce storefront that allows businesses customise their online store and sell online, with this, businesses with a storefront gets onboard the Zest marketplaces that service as a convergence point for sellers and consumers shopping online. Zest also offers a lifestyle mobile app that is bank-agnostic and allows consumers to enjoy different lifestyle offerings regardless of the bank where their account is domiciled. What are the design principles of Zest’s platform orchestration strategy, and how do these principles, contribute to its goal of providing a versatile and solution-driven platform for businesses and consumers of varying sizes and sectors? There are four major design principles on which forms the foundation of the Zest platform orchestration strategy. The principles are: (a) multi-rail platform strategy, (b) human-centered design, (c) business growth powered by e-Commerce, (d) operational excellence. Zest is designed to deliver a solutiondriven platform orchestration strategy that caters to a broad spectrum of businesses and consumers, ranging from micro, small, medium enterprises to large corporations, government, and global subsidiaries. The focus is to ensure that businesses can collect payments in any way the consumers want to pay them, make e-Commerce available to all sizes of business whether they have a website or not, provide a wide range of value-added services and lifestyle offerings, and create a platform that enables partners to offer working capital solutions that bridge the financing gaps for businesses and checkout

financing for consumers to access goods and services.

As the Chief Executive of Zest, how has your commitment to excellence and financial inclusion? My professional journey reflects my commitment to excellence, with an impressive line-up of professional licenses and qualifications, including a Doctoral Degree (with specialization in Green Banking and Payments), an MBA in Technology Management, and a Post-Graduate in Digital Business from Emeritus Singapore, MIT, and Columbia Business School. My dedication to fostering financial inclusion goes beyond my role at Zest. I have significantly contributed to various industry bodies and regulatory and stakeholder forums. I am currently the Vice President of the Governing Council for Fintech Association of Nigeria (FINTECHNGR) and Member of the Advisory Council of Committee of eBusiness Industry Heads. In a recent ‘Projectified’ interview hosted by the Global Project Management Institute, USA, I shared my perspective on the fintech industry: We’re not just creating products; we’re shaping the future of finance. It’s not enough to innovate; we must ensure that innovation benefits everyone, from the urban centres to the remote villages. I have been recognised for my impact on innovation and inclusion, and this reflected when I emerged winner of the Titans of Tech Merit Award for 2023 and also recently won the Bank 4.0 Award for the West Africa Payment Innovator of the year 2023.

TUESday, DECEMBER 5, 2023 T H I S D AY

business/MOnEYGUIDE

Falcon Corporation Secures N19.41bn Debt Facility from Chapel Hill Denham Oluchi Chibuzor Falcon Corporation Limited has announced the successful closing of a N19.41 billion facility from the Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF). The company in a statement said proceeds of the loan are earmarked for the development of a state-of-the-art 15,000 metric ton Liquefied Petroleum Gas (LPG) storage facility and a dedicated jetty situated in Rumuolumeni, Saipem/Aker Base Road, Port Harcourt, Rivers State. It added that the Project, which has reached an advance stage, is being carried out in two distinct phases, with the initial phase focusing on the construction of a 10,000 metric ton spherical tank (consisting of 2 tanks, each with a capacity of 5,000 metric tons), a dedicated jetty and other associated infrastructure, which is to be followed by the development of an additional 5,000 metric tons of storage at a later date. According to the Managing Director of the Company, Prof. Joe Ezigbo, “At Falcon, we consider our investments in the Gas industry as a national service first. This is why over

the past almost thirty years, we have continued to expand our footprints within the industry, despite the various challenges within the environment. Gas development is our contribution to nation building and we remain unrelenting in this regard. We positioned our LPG facility strategically in proximity to major Gas sources and navigable water routes. The Project is set to facilitate and enhance more direct procurement and distribution of LPG, which will dramatically lower conventional delivery and storage costs. Beyond economic gains, we anticipate significant social benefits including job creation, income growth, health improvements, and environmental sustainability as our customers and communities transition to cleaner fuel options on a larger scale.” The Deputy Managing Director and Co-Founder of Falcon, Mrs. Audrey Joe-Ezigbo, emphasized that, “As a progressive company, deeply committed to the growth and advancement of Nigeria’s domestic Gas industry, we are expanding our investments across the Gas industry value chain, from our traditional role in the downstream sector, to our current midstream

investments, and positioning for an intended upstream play. We are fully aligned with the nations aspirations to leverage gas for industrialization, and our primary energy transition fuel, with the strong focus on its use for power and cooking. LPG’s characteristics, such as portability, high energy value, low emissions, and reduced carbon footprint, make it an ideal choice for cooking and other industrial uses. The Project aims to ensure the availability of LPG and deepen its market penetration and adoption within the catchment areas, contributing to the mitigation of ecosystem damage and greenhouse emissions caused by use of other traditional fuels.” On his part, the Chief Executive Officer of Chapel Hill Denham, Mr. Bolaji Balogun, said, “Chapel Hill Denham is pleased to support the integrated LPG infrastructure in Rivers State as this will not only increase domestic LPG consumption but also help in achieving one of the critical sustainable development goals aimed at reducing carbon emissions, air pollution, and habitat loss resulting from the use of firewood for cooking by more than 30 million households.

L-R:Managing Director of First City Monument Bank (FCMB), Mrs Yemisi Edun presenting the Bank’s monetary reward of N1 million to Ms Ngozi Kekwaaru, a staff of Eko Hotel and Suites who found and returned $70,000 left behind by a guest at the hotel and President/Chairman of the Council of the Chartered Institute of Bankers of Nigeria (CIBN), Dr. Ken Opara, during the annual dinner of the Institute held in Lagos..recently

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

Money Supply (M3)

65,445,154.2

-- CBN Bills Held by Money Holding Sectors

552,553.58

Money Supply (M2)

64,892,600.61

CFA Societies, Stakeholders Champion Investment, Sustainable Growth in Africa

-- Quasi Money

40,870,301.28

-- Narrow Money (M1)

24,022,299.33

---- Currency Outside Banks

2,295,309.10

---- Demand Deposits

21,726,990.23

Kayode Tokede

Net Foreign Assets (NFA)

7,144,158.92

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

87,273,966.81

---- Credit to Government (Net)

32,511,333.17

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

54,762,633.63

--Other Assets Net

13,347,376.27

Reserve Money (Base Money

19,429,603.25

--Currency in Circulation

2,660,138.92

--Banks Reserves --Special Intervention Reserves

16,769,464.34 428,519.21

The CFA Societies and key stakeholders have championed the collective pursuit of advancing investment opportunities and driving sustainable growth across countries in Africa. The 2023 CFA Institute Africa Investment Conference is hosted by CFA Society Nigeria in collaboration with sister CFA Societies in Africa namely, CFA Society East Africa, CFA Society South Africa, CFA Society Ghana, and CFA Society Mauritius. The two-day Africa Investment conference recently held in Lagos with theme. “The Emergence of Africa: A Rethink or a Re-Strategizing?” was to stimulate solutions-driven discourses and a call to action highlighting Africa’s value as a desired investment destination. The Governor of Lagos State, Mr. Babajide Sanwo-Olu, who was represented by his Deputy, Mr. Femi Hamzat, said, “For so long, our continent was marginalized in the global scheme of things. For many measures

of human development, our continent lags behind.” He noted that the emergency of Africa is now an acknowledged reality to the world. According to him, “We have a large youth population which provides good valuable human capital, and a huge market. With our expansive natural resources, the rest of the world is now paying the right attention that is due to Africa.” The Director General, National Pension Commission, Aisha Dahir-Umar, who was represented by Zonal Head, South-West Zonal Office, Mr. Sola Adeseun, said the 2023 conference would serve as a crucial platform fostering dialogue, exchange of ideas, and collective contemplation on the future of Africa and its emergence at the global scale. She added, “The theme prompts us to reflect on the journey thus far, access the current state of affairs, and deliberate on the strategic measures required for the continent to sustained growth

and development.” She noted that National Pension Commission acknowledged the critical role that the financial sector, particularly investment professionals and institutions such as CFA play in shaping the economy of the nation. The President, CFA Institute, Marg Franklin in her speech stated that the allocated capital to Africa has the potential to unlock opportunities and benefit all societies. Speaking earlier, the President, CFA Society Nigeria, Ibukun Oyedeji in her opening remarks said, the 2023 conference marks a significant milestone in its collective pursuit of advancing investment opportunities and driving sustainable growth across the African continent. “As we gather here, we are joined by a diverse and dynamic group of professionals, policymakers, entrepreneurs, and thought leaders who share a common vision: to unlock the immense potential that Africa holds, ”Oyedeji said.

Money Market Indicators (in Percentage) Month

August 2023

Inter-Bank Call Rate

3.89

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

18.75

Treasury Bill Rate

5.13

Savings Deposit Rate

5.26

1 Month Deposit Rate

7.31

3 Months Deposit Rate

7.55

Abbey Mortgage Bank Host Sustainability Workshop

6 Months Deposit Rate

8.30

12 Months Deposit Rate

8.13

Kayode Tokede

Prime Lending rate

13.99

Maximum Lending Rate

27.59

Geared towards boosting impactful investment opportunities for Non-profit organizations, a leading primary mortgage Bank in Nigeria, Abbey Mortgage Bank Plc has organized a sustainable workshop for stakeholders of nonprofit organizations to enhance financial sustainability and drive positive change within the civil society sector. The event which was Tagged, “Financial Management: A Sustainability Tool for Non-Profit Organizations,” held recently in

Abuja, is aimed at creating impactful investment opportunities to aid sustainability efforts in line with SDG 17 which supports the implementation and revitalization of Global Partnership for sustainable development in the civil society. Speaking at the event, The Group Head, Non-Profit Organizations at Abbey Mortgage Bank, Bukola Ewedairo, noted that, “Abbey Mortgage Bank is rightfully positioned to partner with institutions in the civil society by creating opportunities for long-term sustainable investment.

“We believe that Non-profit organizations need to be strengthened to achieve their mission and this workshop was our way of collaborating to ensure that they can thrive especially with the volatilities in our local economy,” she stated. Also speaking at the event, the Managing Director of Abbey Mortgage Bank and a key speaker at the event, Mobolaji Adewumi, noted that, “ At Abbey, we are creating an ecosystem where non-profits can flourish, contribute meaningfully to society and drive sustainable change.”

• Source - CBN

• Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE As At 29th September , 2023

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

T H I S D AY •TUESday, DECEMBER 5, 2023

mARKET NEWS

Yuguda: Active Stakeholder Collaboration’ll Facilitate Economic Development KayodeTokede The Director-General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda has called for an active collaboration between the government and market participants to facilitate economic development and enhance market growth and. Yuguda, who made the call while addressing journalists at the 2023 conference of the

Capital Market Correspondents Association of Nigeria (CAMCAN) held in Lagos at the weekend, said synergy holds the potential of unleashing capital market prowess and paving the way for a prosperous future. According to him, achieving the objective necessitates an increased utilisation of market mechanisms and instruments to raise funds and stimulate economic advancement.

P R I C E S MaiN Board

F O R DEALS

He pointed out that the commission would continue to introduce new ideas and policies that would support the development and regulation of a capital market that is dynamic, fair, transparent, and efficient to contribute to the nation’s economic development, noting that investors protection play a crucial role in the development and integrity of the capital market.

S E C U R I T I E S Market Price

quantity traded

“Effectively harnessing the capital market for national. development entails a multifaceted approach, these include deploying more infrastructure, fostering more public-private partnerships, establishing specialised entities like special purpose vehicles (SPVs), listing state-owned enterprises, issuing green bonds to support sustainable projects, and bolstering small and medium enterprises

T R A D E D

value traded ( N )

MaiN Board

A S O F

among others. Yuguda, who was represented by the Executive Commissioner Operations, SEC, Mr Dayo Obisan, said by adopting these strategic approaches, government and market participants can create a dynamic capital market that attracts diverse investments, fuels economic growth, and contributes significantly to national development goals.

He assured that the commission was poised to create an enabling environment and facilitate oversight and regulatory framework that would continue to deepen the market support development. According to him, the revised capital market master plan underscored SEC’s commitment to deepening and. repositioning the financial market as a key driver of sustainable economic growth.

D E C E M B E R / 4 / 2 3 DEALS

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TUESDAY, DECEMBER 05, 2023 • T H I S D AY

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Emefiele: Nigerians in US Raise the Alarm over Alleged Human Rights Violation by Tinubu's Govt

The Conference of Nigerian Intellectuals in the United States has drawn the attention of the international community to alleged human rights violations under the administration of President Bola Tinubu. The group expressed displeasure at the Economic and Financial Crimes Commission’s (EFCC) handling of former Central Bank of Nigeria Governor, Godwin Emefiele. The High Court of the Federal Capital Territory (FCT) in Abuja, had last Tuesday, commenced the trial of Emefiele, with three witnesses exonerating the former CBN governor of wrongdoings in the award of

N1.2 billion vehicle supply contracts by CBN under him. In a statement signed by its President Dr. Philips Idris, the Conference of Nigerian Intellectuals in the US described Emefiele's continuous detention as illegal, wicked, and fiendish. Quoting Article 9 of the United Nations Human Rights, Idris said: "No one shall be subjected to arbitrary arrest, detention or exile." He noted that the International Law of Human Rights obligates governments to act in certain ways or to refrain from certain acts, to promote and protect human rights

and fundamental freedoms of individuals or groups. But Idris said there had been serial abuse of the rule of law and disregard for the freedom and rights of innocent Nigerians since the new administration came on board, citing Emefiele as a case study. "We have watched with concern and indeed, consternation, the relentless persecution of Mr Godwin Emefiele. Emefiele is currently being sequestered and shackled like a common criminal in Nigeria. "Several court orders had been secured for his release but they were serially and flagrantly disobeyed

by the EFCC and DSS. Judging by the ferocity with which Emefiele is being pursued, it seems someone wants him dead. "His traducers are willing to break any law of the land and dehumanised to punish him for carrying out his statutory duties during his time as governor of CBN. "He has been denied his freedom and basic rights against both the domestic and international human rights laws. Article 9 of the United Nations Human Rights states that 'No one shall be subjected to arbitrary arrest, detention or exile. "As concerned citizens in the

diaspora, we have decided to draw the attention of the international community to the new reign of terror back home. Our dear country seems to be heading back to dictatorship. "We are by this statement urging the Nigerian government to do the right thing which is to free Emefiele. We are also warning the EFCC not to erode the confidence of the international community in doing business with us as a nation by violating the fundamental rights of perceived opponents of the Asiwaju Administration. "Should this plea fall on deaf ears, we will be staging a peaceful

Emefiele protest in the USA and another by our sister organisation in London on Monday (next week)."

Information Minister: FG Sponsored Only 422 Nigerian Delegates to COP28 Summit

Deji Elumoye in Abuja

Following the strong backlash against the large number of Nigerian officials attending the on-going Climate Summit in Dubai, United Arab Emirates (UAE), the presidency officially cleared the air, yesterday, saying the federal government only funded the trip of 422 delegates drawn from ministries, agencies and the National Assembly. Minister of Information and National Orientation, Mohammed Idris, made the clarification in a statement, titled, "Re: Nigeria at COP28." Idris gave a breakdown of the delegates to include 32 from National Council on Climate Change; 34 from Federal Ministry of Environment; all other ministries – 167; Presidency – 67; Office of the Vice President – nine; National Assembly – 40; and Federal Parastatals/Agencies - 73. The minister pointed out that the overall Nigerian delegation to COP28 comprised government-sponsored (federal and state governments) and non-government-sponsored participants (from private companies, non-governmental organisations (NGOs), civil society organisations (CSOs), media, academia, etc.). He said parties to the COP28 convention from Nigeria included government officials, representatives from the private sector, civil society, the voluntary sector, state governments, media, multilateral institutions, representatives of marginalised communities, and many others. The minister further justified the large federal government delegation, stressing that as the biggest economy and most populous country in Africa, with a substantial extractive economy and extensive vulnerability to climate change, "Nigeria has a significant stake in climate action, and our active and robust participation at COP is, therefore, not unwarranted." Idris also listed the gains of the COP28 summit to Nigeria to include signing of accelerated energy

performance agreement between Nigeria and Germany, unveiling the Nigeria Carbon Market Activation Plan by President Bola Tinubu, and the president's hosting of stakeholders and investors on the Nigeria Carbon Market and Electric Buses Rollout Programme. The minister further explained, "The federal government has noted with interest the public conversation on the number of delegates from Nigeria attending the ongoing Climate Summit in Dubai, otherwise called COP28, and the need to provide clarity in line with a standing pledge to conduct itself with transparency and accessibility regarding public information. "The Convention of Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC) is the world’s pre-eminent Climate Change Conference, attended this year (COP28) by more than 70,000 participants and delegates from over 100 countries. “Nigeria’s representation is very much in line with our status as Africa’s leading sovereign voice and player in climate action. "Parties to this convention from Nigeria include government officials, representatives from the private sector, civil society, the voluntary sector, state governments, media, multilateral institutions, representatives of marginalised communities, and many others. "It is imperative to point out that the overall Nigerian delegation to COP28 comprises governmentsponsored (federal and state governments) and non-governmentsponsored participants (from private companies, NGOs, CSOs, media, academia, etc.). "The federal government-funded delegation is made up of a total of 422 persons, as follows: National Council on Climate Change – 32; Federal Ministry of Environment – 34; All Ministries – 167; Presidency – 67; Office of the Vice President – nine; National Assembly – 40; federal

Nigeria Records N1.88 Trillion Trade Surplus in Third Quarter of N1.88 trillion. According to the Foreign Trade in Goods Statistics (Q3 2023), which was released by the statistical agency, total exports increased by 60.78 per cent, compared to N6.44 trillion in the preceding quarter. Exports also increased by 74.36 per cent, compared to N5.93 trillion in Q3 2022. The value of non-crude oil exports stood at N1.81 trillion, accounting for 17.50 per cent of total exports; non-oil products contributed N677.57 billion or 6.55 per cent of total exports. Similarly, total imports increased by 47.70 per cent, compared to N5.73 trillion in Q2 2023, as well as rose 33.33 per cent, when compared to N6.34 trillion in Q3 2023. According to NBS, the significant rise in exports and imports during the period in reference was largely driven by an increase in trade activities. The value of re-exports stood at N35.95 billion, representing 0.35 per cent of total exports in Q3. Analysis by trading partners in Q3, 2023 showed that Spain emerged as Nigeria's highest export trading partner, with a N1.27 trillion or 12.31 per cent of the country's total exports. Spain was followed by India,

with N1.01 trillion or 9.81 per cent. The Netherlands accounted for N988.66 billion or 9.56 per cent, while Indonesia accounted for N758.59 billion or 7.33 per cent of exports. France accounted for N720.45 billion or 6.96 per cent of total exports. Exports to the top five countries amounted to 45.98 per cent of the total value of exports. However, analysis by traded products revealed that the largest export value in the third quarter of 2023 remained petroleum oils and oils obtained from bituminous minerals, crude, which amounted to N8.54 trillion, representing 82.50 per cent, followed by natural gas, liquefied, with N1.02 trillion or 9.82 per cent, and urea, whether or not in aqueous solution, with N109.68 billion or 1.06 per cent of total exports. On the other hand, imports to Nigeria was dominated by China with N1.97 trillion or 23.33 per cent, followed by imports from Belgium with N996.65 billion or 11.78 per cent, India with N802.07 billion or 9.48 per cent, Malta N561.37 billion or 6.64 per cent, and the United States of America with N502.92 billion or 5.95 per cent.

parastatals/agencies – 73.” According to the minister, COP28 presents an array of investment and partnership opportunities for the various sectors affected by climate change. He stressed that Nigeria was already benefiting from its participation, as demonstrated by the following, "Nigeria and Germany signed an accelerated performance agreement to expedite the implementation of the Presidential Power Initiative (PPI) to improve Nigeria's electricity supply. “The agreement was signed by Mr. Kenny Anuwe, the Managing Director and CEO of FGN Power Company, and Ms. Nadja Haakansson, Siemens Energy's Senior Vice President and Managing Director for Africa, at a ceremony witnessed by President Tinubu and Chancellor Scholz. "President Tinubu hosted a highlevel meeting with stakeholders and investors on the Nigeria Carbon Market and the Electric Buses Rollout Programme on the margins of the COP28 climate summit. "The president unveiled the Nigeria Carbon Market Activation Plan, co-chaired by the Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch

Adedeji, and the Director-General of the National Council on Climate Change (NCCC), Dr. Dahiru Salisu. "The electric buses programme is only the first step in a series of innovative, clean, modern, and sustainable initiatives across diverse sectors, all aimed at simultaneously addressing climate change-related challenges, reducing carbon footprint, modernising infrastructure systems, and positioning Nigeria as an attractive destination for global investments. "Nigeria stands to benefit from the Loss and Damage Fund established during COP27 in Egypt and formally operationalised at the opening plenary of COP28 in Dubai. “The fund will provide substantial non-debt financing to support countries most affected by the impact of climate change. Hundreds of millions of dollars have already been pledged as contributions to the Fund. "The president also met the president of UAE to concretise engagements between the two countries. This is aside from the bilateral talks held with several countries and multilateral partners. "It should be highlighted that over the years, Nigeria has firmly demonstrated its climate action

credentials by being the first African country to launch its Energy Transition Plan, the first African country to issue a Sovereign Green Bond, and one of the first to pass national climate change legislation.” Idris added, in the statement, "President Tinubu has been unequivocal in his position that Africa, which is battling problems of poverty and security and struggling to provide education and healthcare to her people, cannot be told to abandon its primary source of income, which is mostly from extractive industries, without the West providing the funding and investment in alternative and clean energy sources. "Since assuming office, President Tinubu has been a vocal champion for the African continent on the global stage, whether at the United Nations General Assembly (UNGA), the G20, or the ongoing COP28. The president has been supported by an equally active and engaged Nigerian delegation at these various fora. "It is, therefore, essential to keep setting the records straight while assuring Nigerians that President Tinubu and other officials on the federal government delegation are in Dubai for serious business, not a jamboree." Meanwhile, Edo State Governor,

Mr. Godwin Obaseki, yesterday, said he was invited to COP28, but he opted to join the conference virtually on account of the reforms initiated to develop the state’s digital economy. A statement quoted Obaseki to have made the remarks in a chat with BBC Pidgin. The governor, who listed the achievements recorded in the last seven years of his administration, stated that the state had since transitioned to paperless work mode that had made working in Edo civil and public service flexible, better and more productive. Obaseki stated, “I was invited to attend the COP28 in Dubai, but I told them I am going to join them virtual. “We have a lot to showcase in the state as regards climate change. We are tackling deforestation, planting trees and preserving our land. Illegal tree logging is causing erosion in the state and we are determined to end the trend. It is still raining in December; there is climate change and we are working to protect our people.” Obaseki said the state was massively investing in the digital economy, especially with investment in digital infrastructure and manpower development.

Kaduna Govt: Army Has Taken Responsibility for Community Bombing At the same time, Speaker of the House of Representatives, Hon. Tajudeen Abbas, has expressed grief over the killing of persons at Tudun Biri community by a bomb said to have been inadvertently dropped by personnel of the Nigerian Army. The army has said the airstrikes were inadvertent, saying operatives were targeting terrorists, but killed residents instead. Overseeing Commissioner, Ministry of Internal Security and Home Affairs, Kaduna State, Samuel Aruwan, said in a statement, yesterday, that the Army claimed responsibility for the unfortunate incident. “The Kaduna State Government has received briefings on Sunday night’s attack which left several citizens dead and others injured. “In a meeting presided over by the Deputy Governor, Dr Hadiza Sabuwa Balarabe, which had in attendance heads of security agencies, religious and traditional leaders, the Nigerian Army explained the circumstances which led to the unfortunate and unintended attack. “The General Officer Commanding One Division Nigerian Army, Major VU Okoro, explained that the Nigerian Army was on a routine

mission against terrorists but inadvertently affected members of the community.”. The deputy governor, at the end of the closed door meeting, conveyed condolences of the government and people of Kaduna State to the families that lost their loved ones. “As of the time of this update, search-and-rescue efforts are still ongoing, as dozens of injured victims have been evacuated to Barau Dikko Teaching Hospital by the Government. “Heads of security agencies who attended the meeting include the Commissioner of Police, MY Garba, and Director of the Department of State Services (DSS) Abdul Eneche. The Chairman of the Kaduna State Chapter of Jam’atu Nasril Islam (JNI) Professor Shafi’u Abdullahi, led other religious leaders. Also present at meeting was the District of Rigasa, Alhaji Aminu Idris in whose domain the incident occurred,” the statement added. But a short statement by the Nigerian Air Force Headquarters said it was not involved in any air interdiction in the last 24 hours. The air force stated, "The news making the rounds alleging that Nigerian Air Force (NAF) aircraft

accidentally killed innocent civilians in Kaduna is false. "Please, be informed that the NAF has not carried out any air operations within Kaduna State and environs in the last 24 hours. "Also, note that the NAF is not the only organisation operating combat armed drones in the north-western region of Nigeria. It is also important to ensure that due diligence is always exhausted by the media before going to press with unverified and unconfirmed reports." On his part, spokesperson for the governor, Mohammed Shehu, in a statement, said the governor was shocked by the news of the incident, which led to loss of lives and injury to some. Shehu said the killing was caused by a drone operation by the Nigerian Army on Sunday, stating that the affected residents had gathered to mark Maulud festivities at Tudun Biri, when the incident occurred. Shehu quoted Sani as saying, “I have ordered immediate investigations into the tragic incident. We are determined to prevent a repeat of this tragedy and reassure our people that their protection would be prioritised in the sustained fight against terrorists, bandits and other

PAP Beneficiary Emerges Best Graduating Student at Western Niger Delta Varsity Sylvester Idowu in Warri

A beneficiary of the Presidential Amnesty Programme (PAP), Ebiwari Shedrack, over the weekend emerged the best graduating student of Western Niger Delta University, Oghara, Delta State. The auditorium of the university became agog when the same student's name featured as being amongst the eighteen young people that bagged First Class

from 2020/2021; 2021/2022 and 2022/23 sessions of the institution owned by former Delta State Governor, Chief James Onanefe Ibori. Ebiwari who bagged a first class in Computer Science and best graduating student shed tears of joy as he shook hands with dignitaries, including the Deputy Governor of Edo State, Phillip Shaibu, who represented Governor Godwin Obaseki; the

University Visitor, Chief James Onanefe Ibori amongst others, when he was called to the rostrum for recognition. In his valedictory speech, Ebiwari thanked the late President Umaru Yar’Adua and his successors including President Bola Ahmed Tinubu for continuing with the programme noting that the amnesty scholarship has opened the door for him to achieve his academic and career goals.

criminal elements.” The governor, the statement further stated, directed the immediate evacuation of the injured to Barau Dikko Teaching Hospital for emergency medical attention, with the bill to be picked up by the state. Sani appealed to the affected communities to be calm, stating, “Top government officials have been dispatched to the area to assess the situation, reach out to the families of the victims and advise the government on the immediate actions and measures to be taken to lessen the pains of the families.” The governor expressed condolences to the families of the deceased victims and prayed for the speedy recovery of those injured and were receiving treatment at Barau Dikko Teaching Hospital. He said, "The Kaduna State government regrets the loss of lives and remains committed in ensuring that residents continue to live and conduct their legitimate businesses without fear.” Meanwhile, Abbas expressed grief over the bombing said to have been inadvertently dropped by personnel of the Nigerian Army. Abbas, in a statement by his Special Adviser on Media and Publicity, Musa Krishi, said the incident was said to have occurred on Sunday night, when hundreds of residents of the area gathered for the annual Maulud celebration. Abbas expressed worry that innocent people going about their lawful activities got killed in such circumstances. He called for thorough investigation by the Nigerian Army to ascertain what led to such "a costly mistake." The speaker said the Nigerian Army should leave no stone unturned in unravelling what happened, with a view to preventing a repeat of such incident. He sent his condolences to the people and government of Kaduna State, especially the families of those that lost their loved ones in the incident.

T H I S D AY • TUESDAY, DECEMBER 05, 2023

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Unite and Collaborate for Strategic Partnership...

L-R: Managing Director GEN Nigeria, Dr. Olawale Anifowose; Team Lead , Strategic Partnership and Businesses Development, Providus Bank, Oluwadamilola Feyide; Director Enterprise Development and Promotion, Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), Monday Ewans; and Head, Strategy and Business Development, Providus Bank, Ernest Elue, at the press conference to announce GEN Nigeria and Providus Bank unite and collaborate for strategic Partnership to drive entrepreneurship in Nigeria… recently

WHO: Nigeria, Four Others Led Concentration of Malaria Cases in 2022 Agrees with FG to intensify health emergency programmes in north-east

Ndubuisi Francis and Onyebuchi Ezigbo in Abuja The World Health Organisation (WHO) has revealed that the global cases of malaria increased by five million compared to 249 million in 2021, noting that the increase was mainly concentrated in five countries - Pakistan, Nigeria, Ethiopia, Uganda and Papua New Guinea. In its 2023 World Malaria Report, WHO attributed the development to a combination of factors, including catastrophic weather events, population growth and conflict/ forced migration. Meanwhile, the federal government and the WHO have restated their commitment to continue health

emergency interventions in Nigeria's North East zone. WHO said it will step up the provision of leadership and coordination to support the government in reaching the underserved and vulnerable populations in northeast Nigeria with essential health services. Both parties expressed their commitments after the 13th End-Term Joint Operational Review meeting held in Yola, Adamawa State, from 27 to 29 November 2023. Although the global health agency noted the estimated 249 million cases reported last year exceeded the 2019 total by 16 million cases, the number of lives lost to malaria saw a marginal decline when compared to 2021 at 608,000 deaths, but still significantly

higher than 2019, where deaths were 576,000. It added that some 95 per cent of the deaths were in the WHO African region. Explaining that progress was currently too slow to meet 2030 goals on malaria, the report stated that the global health community urgently needs to accelerate the pace of progress to meet the 2030 malaria elimination goals. Progress, it added, had stalled since COVID-19 and as a result, the effort to reduce the annual global malaria incidence and mortality rate had fallen significantly short of 2022 targets. For instance, insecticide-treated net (ITN) use remains generally unchanged, with only 50 people of

people sleeping under a net, while a 42 per cent Intermittent Preventive Treatment in pregnancy (IPTp) coverage indicates that too many pregnant women are still missing out on malaria prevention treatment. However, while the World Malaria Report said that ITN use remains unchanged, the latest statistics by Alliance for Malaria Prevention (AMP) indicated that a significant milestone had been reached with the shipping of three billion insecticide treated nets (ITNs) since 2004 to prevent malaria, most of them to countries in sub-Saharan Africa. AMP data showed that in 2022 alone, more than 190 million ITNs were distributed globally by National Malaria Programmes in

Abbas: House Will Amend Fiscal Responsibility Act to Strengthen Existing Provisions Adedayo Akinwale in Abuja The Speaker of the House of Representatives, Hon. Tajudeen Abbas, has revealed that the House would review the Fiscal Responsibility Act (FRA) 2007 to strengthen existing provisions to improve access to information and public consultation during all phases of the budget cycle. He said specifically that the Green Chamber would amend the FRA to require and define public participation explicitly. The speaker gave the hint at the citizens town-hall on the 2024 appropriation bill held yesterday in Abuja He said he considered the meeting highly relevant to deepening democratic governance and strengthening public financial management. The speaker noted that the town hall provided a platform for direct engagement between legislators and citizens, focusing on matters related to the national budget. Abbas stressed that this was crucial to enhancing the transparency of government spending and to also allow the public to be more informed about how public funds are to be used and, by so doing, build greater trust in government institutions. Besides, he noted that the town hall would allow the National Assembly to understand citizens' needs better and explore ways to address them through the budget. The speaker stated: "The relevance

of this interface is best understood within the larger context of diminished public trust in government institutions in Nigeria and all over Africa." Abbas emphasised that the Afrobarometer study across 36 African countries in 2014/2015 found that people express more trust in informal institutions such as religious and traditional leaders than in the formal executive agencies of the state. He said public trust in parliaments and electoral institutions was lowest across 36 countries. The speaker added that the Open Government Partnership (OGP) found that Nigeria provides "few" opportunities for the public to engage in the budget process, adding that in 2017, it ranked Nigeria 13 out of 100 points in public participation. Abbas noted: "This poor ranking was due to the dominant role played by the political elite and government bureaucrats in the budgeting process. While some progress has been made since 2017, many traditional challenges remain. The most notable is the absence of functional government mechanisms that show how citizen input informs the budget-making process. "This town hall represents a major step in changing the narrative. As indicated in our legislative agenda, we are the People's House. “As such, we firmly commit to strengthening public engage-

ment and seeking inputs into the budget process, starting with the pre-budget statement, executive budget proposal, budget debate through public hearings in the legislature, and implementation, monitoring, and reporting of the budget,” he said. Abbas stressed that greater citizen engagement required action not just by the legislature but more so by the executive. He said the Nigeria National Action Plan (2017-2019) under the Open Government Partnership identified the Federal Ministry of Budget and National Planning as the lead institution, with other

government organs and agencies and the civil society as support institutions. The Speaker said: "This places the burden for improving public participation in the budget largely on the Executive. "Some of the ways to achieve this include regular publishing of MDA budgets and quarterly and annual budget implementation reports on their websites, annual publishing of a comprehensive citizen's guide to the budget, conduct of annual citizen's satisfaction survey and timely publication and dissemination of all key budget documents to facilitate citizens' participation."

malaria endemic countries. Of these 180 million were distributed in sub-Saharan Africa. But continuing with its findings, the World Malaria Report further revealed that even the 217 million courses of Artemisinin Combination Therapy antimalarial treatment delivered last year were fewer than in 2021. It stressed that malaria funding needed to almost double to accelerate progress towards the elimination goals, adding that $4.1 billion was invested in malaria globally in 2022 compared to a target of $7.8 billion. The report explained that as the growing number of malaria cases demonstrates, the world is in the throes of accumulated threats, adding that climate change can both directly and indirectly affect malaria transmission. "Mosquito breeding grounds are changing (e.g., slight warming in cooler, malaria-free zones could lead to new malaria cases), requiring countries to make better use of data to predict malaria seasons and geographies and plan seasonal malaria chemoprevention (SMC) campaigns. "Indirectly, climate change can weaken healthcare systems, disrupt medical supply chains and increase migration, exposing new populations. "The impact of climate change and extreme weather events on malaria transmission was dramatically demonstrated in the 2022 floods in Pakistan, where collections of stagnant water resulted in a five-fold increase in malaria cases, contributing to the increase in global malaria cases last year," the report said. On its interventions in Nigeria's

North East zone, a statement by WHO said the Country Representative to Nigeria, Dr Walter Kazadi Mulombo, gave the assurance in his welcome remark at the Joint Operational Review (JOR) meeting. Speaking on the sideline of event, Mulombo said that the review sought to identify opportunities and assess the impact of WHO’s work in Borno, Adamawa and Yobe (BAY) states. The statement said that contrary to reports quoting Mulombo as decrying the increasing rate of Tuberculosis cases in Borno State, he had advocated strengthening of Tuberculosis case detection, reporting and treatment to improve the low TB detection and treatment rate in the state. It quoted Mulombo as having said that: "Everyone is entitled to have access to basic health services, and the WHO is committed to providing, promoting, and protecting health, including to the underserved affected by humanitarian crises. “WHO will be working closely with the Borno State Government to enhance the detection and treatment rate of tuberculosis in the state. "In the intervening time, the primary objective of the JOR is to identify and document the best practices, gaps, challenges and lessons learned during the 2023 response to humanitarian emergencies in the BAY states to further prioritize efforts and resources of WHO and partners to deliver results and align with up-to-date, evidence-based plans. "Additionally, the JOR aims to support the BAY states in developing operational strategies for 2024, in line with the health challenges in the region.”

Switchto931 Unveils Brand Ambassador Switchto931, Nigeria's digital bill payment company, has unveiled Kim Opara, popularly known as 'Kimoprah,' as its inaugural Brand Ambassador. A statement yesterday, noted that the strategic partnership aligns seamlessly with Switchto931's mission to provide easy, accessible, and cost-effective bill payment solutions to individuals and businesses across Nigeria. “Leveraging Kim’s substantial influence among the youth demographic is poised to propel the adoption of the *931# code in Nigeria’s daily financial transactions,” it added. Head of Marketing and Com-

munications at Switchto931, Enitan Kuton noted, "The selection of Kimoprah as our Brand Ambassador perfectly aligns with our mission to empower Nigerians with the freedom to embrace technology and innovation conveniently. “Kimoprah, celebrated for her distinctiveness, youthful spirit, and ingenuity, resonates perfectly with Switchto931's commitment to empowering individuals to effortlessly achieve their aspirations." Positioned as Nigeria's fastestgrowing digital payment hub, Switchto931 offers a versatile bill payment platform accessible through various channels, includ-

ing the 931 Mobile app, USSD *931#, WhatsApp Bot, and RCS, all at discounted rates. It caters to the diverse bill payment needs of Nigerians, irrespective of their educational or digital background. Lead of Financial Operations, at Switchto931, Gbemisola Adesokan, expressed excitement about the transformative juncture for Switchto931, stating, "Today marks the initiation of a transformation at Switchto931. Our brand embodies excellence, Integrity, and innovation in Nigeria's fintech landscape. “Through our range of products and services spanning entertainment (Cable TV Subscription),

(Airtime, data, and electricity), education (WAEC, JAMB, and NECO EPIN), and sports (sport wallet funding), we are committed to providing a seamless experience for every customer." In her response to the appointment, KIMOPRAH shared her enthusiasm, stating, "Being appointed as an ambassador for Switchto931 is an incredible opportunity to connect and empower my audience with myriad possibilities stemming from this collaboration, helping my audience in maximising the value of their money and promoting financial inclusivity amongst Nigerians. I'm ready to serve."

TUESDAY, DECEMBER 05, 2023 • T H I S D AY

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Book Presentation...

L-R: Chairman, UNILAG Alumni ,Abuja, Aliu Akoshile; wife of the author, Mrs. Akamadu Mechece; author of the book, Mr. Chuks Akamadu; former Commissioner for Communications and Culture, Ibrahim Bata PHOTO: KINGSLEY ADEBOYE Haruna; and representative of Governor of Abia State, Dr. Rosemond Uche, during the presentation of the book 'Harnessing Culture for Economic Growth' in Abuja...recently

UN: Push for Gender Equality Not Challenge to Men’s Positions Stakeholders say survivors’ silence setback in war against violence

Michael Olugbode in Abuja and Ibrahim Oyewale in Lokoja The United Nations Women Representative to Nigeria and the Economic Community of West African States (ECOWAS), Beatrice Eyong, yesterday maintained that no one should perceive the call for gender equality as a move to challenge men for positions. Eyong who made the appeal while delivering her address at the UN Women Nigeria Media Partners Conference 2023 in Abuja, noted that the call for gender equality by women is to allow for equal opportunities for all genders to excel. Eyong said: “We are not talking about women taking over men's position but to provide equal opportunities to women just as men, removing the inequalities that block people from progressing.” She noted that the theme of the conference: "Escalating Media Action for Women's Empowerment and Ending Violence Against Women and Girls", called for the media to help end gender-based violence, women empowerment and equality. “The work we do is changing behaviour and we know the media can help us. We want to bring women's issues to the front burner,” she said, lamenting that gender inequality has stopped Nigeria from achieving key Millennium Development Goals (MDGs).

She emphasised that achieving 35 per cent affirmative action was important to bring about development in Nigeria. Also speaking at the event, the Enechi Ekuma IV Okposi Kingdom in Ohaozara, Ebonyi State, Dr Onyie Agwu, assured the conference of the backing of the traditional institution in Nigeria. The traditional ruler who said that he has the backing of his colleagues across Africa, said traditional institution supports all efforts to empower women, bring them out of poverty and fight against gender-based violence. Meanwhile, as part of activities marking the 16 days of activism for the elimination of Gender-based Violence, (GBV), stakeholders have identified continuous silence by survivors as one of the major factors hindering the success of the campaign in Kogi State. In a sensitisation walk held in Lokoja yesterday in commemoration of the event, organised by Kogi Women Constituency Lead, the group’s Spokesperson Eunice Agbogun posited that many women and girls were dying in silence despite suffering from all forms of violence in the state. Agbogun, who is the Executive Director Challenged Parenthood Initiative (CPI) stated that there was need for aggressive awareness on the need for survivors to open up on the societal menace, stressing

that, it is a collective responsibility for Nigerians to combat the pervasive issue. While noting that eradicating GBV required strategic, targeted, and adequately funded interventions from a multi-sectoral approach, Agbogun opined that a designated court will give speedy actions to cases of GBV in the state. "An action plan provides a roadmap, allocating resources where they are most impactful. It encompasses prevention, protection, and support mechanisms, ensuring a holistic approach to address the root causes and consequences of gender-based violence. "The toll of gender-based violence on individuals, families, and societies is immeasurable, affecting mental, physical, and economic well-being. By committing resources to this cause, we invest in a safer,

more just world for all. "As the women constituency lead in partnership with other groups and various government agencies embark on these year 16 days of activism, let us unite in our resolve to turn the tide against gender-based violence. "Together, let us advocate a multi-sectoral ‘costed’ action plan for effective implementation of the Violence Against Persons Prohibition (VAPP) Law and a designated court that not only speaks to our aspirations but also ensures a future where every person can live free from fear, violence, and discrimination," she stressed. In his remarks, the Executive Secretary and Chief Executive Officer of National Human Rights Commission (NHRC), Dr Tony Ojukwu, disclosed that the commission stands resolute

in its commitment to address critical issues affecting the rights of women and girls. Represented at the occasion by the Kogi State Coordinator of NHRC, Nuhu Mohammed, he noted that the day serves as a reminder of the pressing need to confront and alleviate the multifaceted challenges faced by women and girls and by extension the society. Also speaking, the Country Vice President/National President, International Federation of Women Lawyers, (FIDA) Nigeria, Amina Agbaje, described GBV as a global problem that requires concerted global action. According to her, there is need for all stakeholders to join hands to build a safe and more inclusive world for women and girls. Represented by the Kogi State

Ogun CNG Buses Begin Mowe-Ibafo-Berger Operations James Sowole in Abeokuta The Compressed Natural Gas (CNG) powered buses of the Ogun State Government, tagged 'DapoCNG Bus' on Monday, commenced operations along the Mowe-Ibafo-Berger Lagos axis of the state. The buses, according to the state

Commissioner for Transportation, Mr. Gbenga Dairo, are to operate ahead of the introduction Bus Rapid Transit (BRT) along the axis. He said the buses, would be operating between 6 am to 9 pm from Mondays to Saturdays and 7 am to 6 pm on Sundays with bus stops at Mowe, Ibafo, Magboro, Arepo, and New Garage in Berger.

According to Dairo, transport rates on the CNG powered buses range from N200 to N400.00 maximum. The commissioner said every necessary arrangement has been concluded with all the stakeholders, including transport unions and local government officials, for the smooth take-off of the scheme.

Commonwealth, FG Open Talks on Deep Sea Mining

Folalumi Alaran in Abuja

Profitable prospects for deep sea mining in Nigeria’s coastal waters topped the presentation of the Commonwealth Secretariat to the Nigerian delegation led by Minister of Solid Minerals Development, Dele Alake, who was on courtesy visit to the institution last week. In his determination to mobilize international assistance to reposition the solid minerals sector to compete globally, Alake requested to discuss matters of minerals development with the Commonwealth. Addressing the forum, Alake said

President Bola Ahmed Tinubu has identified the solid minerals sector as a pillar of Nigeria’s current efforts to diversify the economy. This policy, he remarked, led the ministry to develop a seven-point agenda that includes the establishment of a solid minerals company, gathering of Big Data on mineral reserve to de-risk investments, improved security to keep the mines safe and socio-economic development of mining communities through effective community development agreements. He said the Commonwealth, as an institution that has developed

Chairperson of FIDA, Lilian Okolo, she said: "FIDA Nigeria remains steadfast in its commitment to prevent violence against women and girls and calls on the government, private sector, Civil Society Organisations, media and indeed all stakeholders to amplify their commitments and investment to improved laws and violence preventions". The Kogi State Commissioner for Women Affairs and Social Development, Fatima Buba, lamented that it was worrisome that the Nigeria Demographic and Health Survey, (NDHS) 2018 report found out that 9 per cent of women aged 15 and 49 had suffered assault at least once in their life and 31 per cent had experienced physical violence. Buba was represented by the Ministry’s Permanent Secretary, Stella-Maris Andy.

expertise over many years, should support the Tinubu administration’s efforts. Nigeria, a former British colony, is a member of the 54-member Commonwealth. Responding, the Senior Director, Trade, Oceans, and Natural Resources Department, Paul Kautoke, commended the delegation for visiting the Commonwealth Secretariat. He said Nigeria, as a coastal country, could explore the profitable prospects of extraction of deep sea minerals such as copper, cobalt, nickel, gold, and rare earth elements. He noted that many Common-

wealth countries in the Pacific region were making inroads in the seep sea mining subsector promising that the Commonwealth could assist in developing a policy for Nigeria. Also addressing the forum, Director, Natural Resources, Victor Kitange, Trade and Investment Adviser, Opeyemi Abebe, Economic Adviser, Trade, Ocean and Natural Resources, Daniel Wilder and Adviser, Ocean Governance, Allison Swaddling, spoke about the progress achieved in deep sea mining expressing concerns that African countries were lagging behind.

While Swaddling said there are online training programmes developed by the department, Abebe, who recalled working with the Nigerian Investment Promotion Council to develop capacity offered to provide similar assistance to get Nigeria into deep sea mining. In his response, Alake said the discussion has brought a new dimension to mineral development and promised that the ministry would study the dimension of deep sea mining in collaboration with other ministries and put together a country proposal for further consideration.

"Expectations are quite high, the services are much anticipated, and the timing of start of operations with Xmas activities at the RCCG camp much valued by commuters. "Commuters along that axis are encouraged to patronize these buses as they are convenient, safe and affordable with promises to give an endearing, smooth experience while on the road," Dairo said. Governor Dapo Abiodun, while announcing the deployment of CNG Technology and E-Mobility as a better alternative and viable means of transportation in the Gateway State with the launching on October 30, of 17 converted vehicles in the maiden scheme, said it was a cost-effective transportation system with little impact on the environment and a direct response by his administration devised to mitigate the adverse impact of fuel ‘subsidy removal’ on transport costs experienced by commuters in the state. He said the scheme which started along Adatan to Ita-Oshin corridor in the Abeokuta metropolis will be extended to other towns and cities in the state.

T H I S D AY • TUESDAY, DECEMBER 05, 2023

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Retreat on Roadmap for the Nigerian Education Sector...

L-R: Senior Special Assistant to the President on Technical, Vocational and Entrepreneurship Education, Madam Abiola Arogundade; Minister of state for Education, Hon. Yusuf Tanko Sununu; and Minister of Education, Prof. Tahir Mamman, SAN, during the opening session of the two-day retreat on Roadmap for the Nigerian Education Sector (2024-2027) and Ministerial Deliverables organised by the Federal Ministry of Education in Uyo, Akwa-Ibom State... recently

Olukayode: EFCC Undergoing Total Overhaul, Must Change Its Modus Operandi Says commission must begin to obey laws, stop stigmatisation Declares he could be on the other side tomorrow Ready to use anti-graft war to stimulate economic growth

Kingsley Nwezeh in Abuja Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukayode, yesterday, said the commission was currently undergoing total overhaul, stressing that it must change its approach. Olukayode spoke at a meeting with civil society organisations at the headquarters of the agency in Jabi, Abuja. The EFCC boss said he was determined to change style in the anti-graft war. He said it was about time the commission started to obey laws and stopped the stigmatisation of persons and companies under investigation.

He acknowledged that he could be on the other side of the law tomorrow, if he failed to do the right things. Olukayode declared that it would no longer be business as usual, as his administration would embark on a major policy review aimed at deploying the instrumentality of anti-corruption to stimulate economic development. The EFCC chairman cited the case of the oil exploration firm, Halliburton, where the United States made $3 billion while Nigerian benefited nothing in economic terms. He affirmed that his new focus would entail generating employment by way of discontinuing the

policy of freezing bank accounts of companies under investigation, which often led to collapse of such organisations and mass sack of employees. He said over N1 trillion was lost to the closure of such companies whose accounts were frozen for as long as 15 years while judgement was awaited. The EFCC chairman said the anti-graft agency was undergoing a total overhauling, saying there would be no more marking of property under investigation, which he said stigmatised such property. Olukayode said the agency under his watch would obey the rule of law and relevant constitutional

provisions setting it up. He stated, "The whole focus will be using the instrumentality of anti-corruption to stimulate economic development. If all my convicting people does not contribute to economic development, how does it add value to the system? "United States government generated N3 billion. Nigeria did not benefit anything during Halliburton investigation, Nigeria did not." He reiterated that the agency would use the instrumentality of anti-corruption as an instrument to generate employment. According to him, "Closing com-

Fagbemi: Delayed Funds Releases Hampers 2023 Budget Performance Sunday Aborisade in Abuja The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, has said delayed releases of funds affected the 2023 budget performances. For instance, he said his ministry only got releases for Capital expenditure in the 2023 budget on the 1st of December 2023, less than 30 days to the end of the fiscal year. The minister stated this yesterday, when he appeared before the Senate Committee on Judiciary, Human Rights and Legal Matters. He said the ministry was allocated N3,321,283.533.00 as Capital Budget and N4,688,847,054.00 as Recurrent Budget in the outgoing budget cycle for 2023 He said with less than 30 days to the end of the financial year, the ministry has only had releases of N617,456,896.00 for capital expenditure and N2,734,110,775.62 for recurrent expenditure. Continuing, the minister said the foregoing had greatly constrained the performance of the ministry in its mandate areas, adding that they were determined to achieve a paradigm shift in 2024, wherein

the ministry, has been allocated N5,341,356,849.00 as capital expenditure and N8,860,880,311.10 as recurrent expenditure in the 2024 budget proposal. "From my firsthand assessment of the justice sector upon assumption of office, it is obvious to me that a major challenge in the sector is underfunding. "This critical sector requires significant investments for us to drive the much-needed legal and judicial reforms, achieve satisfactory compliance with human rights, democratic governance, the rule of law, etc," he said. The committee, chaired by Senator Muhammed Tahiru Munguno, asked rhetorically whether the budget has failed and should be pushed forward to the 2024 Budget as there was no way capital projects could be executed in less than 30 days to the end of 2023. Mongonu said the meeting was to ask the minister to review the 2023 budget in line with the constitutional responsibility of the parliament. He said the Committee would work with the office of Attorney General to review the laws of the federation, because laws were not

supposed to be static. "They are supposed to be organic that supposed to change with the changing society. Laws are organic and not supposed to be static. Most

of our laws are obsolete hence the senate is to work closely with the office of the AGF to review our laws that are outdated or repealed," the senator added.

pany accounts while investigation is ongoing" would no longer apply, as “some accounts are closed for 15 years where over N1 trillion was lost. "Such companies are shut and when such companies are shut, they cannot access funds and they sack employees and the company goes down. Such companies will be allowed to operate. We are changing that completely." The EFCC boss also warned that companies set up to destroy the economy would be shut. On the marking of property, Olukayode maintained that the agency had initiated a new strategy. He stated, "Henceforth, marking properties will be changed in a way that is not noticeable in order not to stigmatise such properties.” Olukayode added that EFCC would embark on comprehensive policy review to ascertain "what have we done wrong or right after which we submit to government". He said his administration was keen on repositioning the agency and changing the disposition of staff. "We must be a foremost agency and sophisticated in the way we do our things," he said. The EFCC chairman disclosed

that the agency had revised guidelines for arrest and detention in accordance with the constitution. He said, "If the law says release a suspect within 24 hours without trial, we release them. We must operate within the dictates of the rule of law, because as I am here today, I can be on the other side tomorrow. I can arrest, obey the law, release you but the same law says we can re-arrest you." On how his predecessors fared, Olukayode said, "People who do well will do well. Those who do wrong things end up wrongly. Somebody who finished from here was honoured as a SAN. If we agree that the right thing must be done, we don't need foreigners to help us. I pledge to God that put me here and the whole country that I will serve the nation diligently." The EFCC chair commended civil society organisations for their commitment to the anti-graft war, noting that 80 per cent of petitions at the agency come from CSOs. "Eighty per cent of our petitions came from civil society groups. It means we have a virile civil society sector. Let's be focused, we will see the light at the end of the tunnel," he said.

COVID-19 Probe: House Queries FERMA over Alleged Mismanagement of N60bn Adedayo Akinwale in Abuja The House of Representatives yesterday queried the officials of the COVID-19 Federal Road Maintenance Agency (FERMA) on the utilisation of the over N60 billion allocated to the agency during the COVID-19 epidemic. The Public Accounts Committee (PAC) investigating the alleged mismanagement of COVID-19 intervention funds from 2020 to 2021, expressed disappointment over the way the management of the agency led by its Managing Director, Dr Chukwuemeka Agbasi, appeared before the committee with a large delegation. The Chairman of the Com-

mittee, Hon. Bamidele Salam, lamented that the agency which was rescheduled to reappear before the committee could not produce enough copies of the requested documents. Instead of producing about 60 copies to be distributed to the members, it tendered only 11 copies. The agency also made its submission in the morning of the same Monday as against last Friday the deadline for submission of documents The agency claimed that a total of 192 projects were carried out across the country which members took turns to debunk that such never existed in their constituencies.

A member of the committee and a lawmaker from Osun, Hon. Adewale Mauruff, expressed worry when he informed the committee that a particular project which was contracted had its fund moved into direct labour without satisfactory explanation. He added that at no time was any survey done to ascertain the need to maintain that particular section as mentioned by FERMA. Another area which was not believed by the committee was the assertion by FERMA that it had about N8.9 million still outstanding in their coffers just as a project administration fee of N9 billion was frowned upon. On his part, the Deputy Chair-

man of the committee, Hon. Jeremiah Umaru, said that the Wamba-Akwanga road, which is in his constituency had been in a state of disrepair for several years, and expressed surprise to hear Agbasi mentioning it as part of the road projects given a facelift during the Covid-19. Ruling on the matter, the chairman announced that the committee would take another look into the books of the agency and requested for more specific documents, vouchers, pictorial evidence of all the projects. In a unanimous conclusion, the committee resolved to physically verify the projects as presented by FERMA.

TUESDAY, DECEMBER 05, 2023 • T H I S D AY

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LAUNCH OF THE National Policy on Welding IN NIGERIA...

L-R: Permanent Secretary, Federal Ministry of Innovation, Science and Technology (FMIST), James Sule; Minister, FMIST, Chief Uche Nnaji; Director General, National Board for Technology Innovation, Photo: ENOCK REUBEN Dr. Uche Chukwu and Secretary, Nigerian Institute of Welding, Solomon Edebiri, during the launch of the National Policy on Welding in Abuja...yesterday

2024 Budget: Obi Raises Red Flag, Declares N15 Billion for VP's House Not Priority

Says estimate equivalent to salaries of 3,000 professors Laments state of health facilities, high unemployment rate

Chuks Okocha in Abuja Presidential candidate of the Labour Party in the last general election, Mr. Peter Obi, yesterday, reviewed the 2024 budget recently presented to the senate by President Bola Tinubu, and lampooned the administration for proposing over N15b for the renovation and building of a new office space for the Vice President, Senator Kashim Shettima. Obi, who condemned the quantum of waste currently going on in the APC administration, however, said the proposal was not a priority, because the amount budgeted could pay salaries of 3,000 professors of Nigerian universities The LP standard bearer, who claimed to still studying the N27.5 trillion budget, and could not but wonder at the level of waste in the face of pervasive suffering, further lamented the state of health facilities in the country and the increasing unemployment rate. Reacting on his X handle, Obi said, "Even as I am still studying the 2024 fiscal budget as presented to the National Assembly last week, I cannot wait as I am compelled to ask what is exactly wrong with us as a country? “I ask this question because it is hard for me to understand some of the recent happenings in our nation, in these critical times. The recent news about a budget provision of N15 billion for the construction of a new residence for

the Vice President is both shocking and disheartening, considering the many important challenges facing our nation. "Just recently in the supplementary budget, the sum of N2.5 billion was included for the renovation of the Vice President's residence in Abuja, which means that he already has a residence. Again, during the budget presentation, I heard the sum of N3 billion was allocated for the renovation of the Vice President's residence in Lagos. "If we total all these sums, we would have budgeted the sum of N20.5 billion for the housing of the Vice President at this critical time, when we are not just the world’s poverty capital, but more people falling into poverty, with so many Nigerians not knowing where their next meal will come from. "Our health facilities have collapsed, and unemployment is skyrocketing. I am convinced that 99.9% of Nigerians can only dream of living in the current residence of the Vice President,” he said. According to him, “Several people employed in the universities are not being paid. Just to give an example, the salary of a professor in a Nigerian university is about N400,000, which without removing tax is about N5 million a year. What we have budgeted for the housing of the Vice President who is already luxuriously housed is, therefore, the annual salary of about 3000 professors!

"This is the finance needed to develop the much-needed human capital. The budget of N5 billion for student loans, which is yet to be disbursed is only a tiny percentage of the cost of the vice president’s new home. The former Anambra State governor, said, "We are projecting to use four times the amount for

educating ALL Nigerian indigent students to house the Vice President, and we are being told there is nothing wrong with us. I am sure the major teaching hospitals in Nsukka, Lagos, Ibadan, and Zaria did not receive this much capital vote in the budget this year. "We have had leaders that were exemplary in the past. Most

Nigerians may not know that the popular 1004 flats in Lagos, was land allocated for the building of a Presidential Mansion for the then Head of State, General Murtala Mohammed but he "sternly turned down the offer and instructed that the land should be used to build blocks of flats for civil servants. That is the kind of sacrificial leadership

Mohammed: Oil, Gas Discovery in Bauchi Presents Huge Potential for Economic Devt Segun Awofadeji in Bauchi

Derivation; improved IGR; as well as backward and forward linkages through the attraction of businesses that rely on outputs from the sector and vice-versa,” he said. According to him, efforts towards building up local content had also progressed steadily, as the Oil and Gas Academy in Alkaleri, the governor’s local government area established to actualise that would take off soon. “In addition to the opportunities for industrialisation through the oil and gas sector, other potential also exists, which include pharmaceuticals,” he said. He explained that with availability of raw materials for the industry, the state should be able to engage investors on the possibility of establishing a modern

pharmaceutical company that could meet about 70% of the market in the North-East. “The key economic potential and comparative advantages the state has in the areas of agriculture, solid mineral resources, brownfields and tourism, among others, have necessitated the need for efforts towards building sustainable and mutually beneficial partnerships and attracting investments,” he said.

APC Accuses Gov. Diri of Plotting to Frame up Sylva at EFCC

The National Working Committee (NWC) of the New Nigeria People’s Party (NNPP), yesterday, enjoined Nigerians to ignore false statements by enemies within disparaging the person of its national leader, Senator Rabiu Musa Kwankwaso, and the Kano State Governor, Abba Kabir Yusuf. A press statement by Ladipo Johnson on behalf of the party under the leadership of the acting National Chairman, Hon. Abba Kawu Ali, hinted that the expelled members of the party were behind the mudslinging. The statement read in part: "It has come to our notice that certain expelled members of the NNPP, which include Tope Aluko and some ex-state chairmen, who are sponsored elements, are conducting a press conference in Jabi, Abuja to falsely state as a form of propaganda, that H.E. Abba Kabir Yusuf was not a member of the NNPP as at the time of the election and that His Excel-

Olusegun Samuel in Yenagoa

The All Progressives Congress (APC) in Bayelsa State has accused Governor Douye Diri of masterminding a conspiracy to incriminate the APC candidate in the last governorship election in the state, Chief Timipre Sylva, falsely using the Economic and Financial Crimes Commission (EFCC). In a statement on Monday by APC State Publicity Secretary, Mr. Doifie Buokoribo, the party said Diri and his cohorts were hatching the plot purposely to distract Sylva and discourage him from effectively pursuing his petition challenging Douye’s declaration as governor-elect at the state governorship election petitions tribunal.

Buokoribo stated, “We are aware of Senator Diri’s devious activities at the Economic and Financial Crimes Commission (EFCC) aimed at sponsoring invented petitions against Sylva, and the pressure he is mounting on officials of the commission to initiate arrest and prosecution against him on trumped up charges, particularly, bordering on his tour of duty as Minister of State for Petroleum Resources. “We have it on good authority that Governor Diri has instigated officials of EFCC on a fishing expedition to try to cobble some flimsy and imaginary charges together against Sylva in order to arrest him. This is all in a bid to distract the APC candidate,

worth emulating. "Our leaders must therefore stop the recklessness and insensitivity to the plight of the masses. We need leaders who show compassion and are willing to sacrifice for common progress and development. Such compassionate and frugal leaders are critical in our journey to the New Nigeria," he stressed

Bauchi State Governor, Senator Bala Abdukadir Mohammed, has said the discovery of oil and gas deposits in the Kolmani area of the state presented huge potential for economic development, especially in the area of natural gas and associated components. The governor, who spoke while presenting the 2024 budget to the State House of Assembly, said Bauchi was currently working with interested investors to consider the establishment of an Industrial Complex for Natural Gas and Associated Products with industries that would focus on utilisation of natural gas. "The opportunities include increased revenue – through 13%

and hinder effective pursuit of his petition at the State Governorship Election Petitions Tribunal.” The statement added, “Senator Diri knows full well that he did not win the November 11 governorship poll; he knows without a doubt that he is holding a stolen mandate that would soon revert to the rightful owner. That is why despite his alleged victory, there is hardly any celebration. Diri and his party, the Peoples Democratic Party (PDP), are simply jittery, knowing there is nothing to celebrate. “Chief Timipre Sylva and APC trust the capacity of the judiciary to do justice in the Bayelsa State governorship election litigation. We have

filed our petition, and we are pursuing it diligently, hoping that there would be justice at the end of the day. “But Diri and PDP, knowing their weak standing before the law, are doing all they can to hinder Sylva’s ability to pursue his petition. They simply distrust the judiciary and are trying sundry self-help tactics – the same strategy they employed before the governorship election.” APC warned “Diri and PDP to desist from their conspiratorial activities against Sylva at the EFCC. We also wish to advise the EFCC to resist any temptation to get entangled in the political chicanery of the sinking governor and his party”.

Mohammed further explained that the state would leverage the relationship it has with China through the Bauchi-Shandong Sister State-Province relationship in order to attract investments to develop value-chain around agriculture, oil and gas, solid minerals and science and technology in order to create jobs, wealth and reduce the prevailing rate of poverty in the State.

NNPP: False Statements on Kwankwaso, Yusuf by Enemies Within Ahmad Sorondinki in Kano

lency, Senator Rabiu Kwankwaso is dismissed from the party. "These allegations are totally false and inaccurate. We state that the Kano State Governor was a bona fide member of the NNPP at all material times and that we have confidence in the Supreme Court of Nigeria that justice will be done. "These hired/paid hands, who seem to be lackeys in the hands of the APC national chairman, Ganduje, seem to have ‘sold their souls’ and will do anything for pecuniary gains at the expense of the Nigerian electorate. “We remind the general populace that Chief Boniface Aniebonam, one of the founders of the NNPP, recently spoke out in favor of Governor Abba Kabir Yusuf and asked that his election be upheld. "Therefore it is a mystery that some of his loyalists would stoop so low as to become hired hands to misinform Nigerians. In conclusion, we urge that Nigerians ignore the false statements by these enemies of the Nigerian electorate!”

TUESday december 5, 2023 • T H I S D AY

NEWS

FREE CANCER SCREENING FOR POLICE …

L-R: Brand Communications Officer, Bridge Credit Limited, Barbara Alufa, Superintend of Police Mercy Ohiole of Force Headquarters Command, and Manager, Abuja Branch, Bridge Credit Limited, Mary Kyocher, at the cancer screening exercise organised by company for personnel of the Federal Capital Territory Police Command, Abuja...recently

TafawaBalewaVarsityShutDownafterStudentsProtest Murder of Colleague Segun Awofadeji in Bauchi

The management of Abubakar Tafawa Balewa University (ATBU) has shut down the university with immediate effect following students protest yesterday. The students were protesting the gruesome murder of their

500 level colleague, Joseph Obiaje Agabaidu, of the Geology department, at the Yelwa campus of the University. The closure was contained in a press statement signed by the Deputy Registrar Academic for the Registrar, Hajia Fatima Inuwa Abdullahi. The statement said the Vice

Chancellor, on behalf of the Senate, has approved the closure of the University for an initial period of one week with effect from yesterday December 4 to Sunday December 10, 2023.

“Therefore, I am directed to request all undergraduates students on both campuses , to vacate the University premises with immediate effect as failure to comply may lead

to appropriate sanction by the constituted authority,” the statement stated. It directed the Dean of students Affairs Division and the Chief Security Officer to

ensure strict compliance of the directive He was allegedly stabbed to death by suspected armed robbers who tried to steal his phone.

Laleye Dipo in Minna

the deceased and others were returning from the installation of the Chairman of the Borgu Kingmakers and Chief priest Bakarabonde an event which took place same day. THISDAY learnt that the driver of the bus in which those kidnapped were, was the only

person killed while a woman in the bus who was covered with the blood pretended to have died making the gunmen to leave her. It was learnt the kidnappers also set the vehicle in which their victims were traveling on fire. When contacted the Chairman of the Borgu local government

Area, Alhaji Sulaiman Yerima, confirmed the story which he described as “unfortunate” adding that according to protocol he had informed the Commissioner for Local Government who will pass the information to “ All relevant authorities”.

Bandits Kill One, Abduct 8, Demand N17m Ransom in Niger

suspected to be bandits 42 Ondo Varsity Students Gunmen on Saturday killed one person abducted eight others Bag First Class Degrees and between Luma and Babana Fidelis David inAkure

The Vice Chancellor of the Ondo State-owned Adekunle Ajasin University, Akungba-Akoko (AAUA), Prof. Olugbenga Ige yesterday disclosed that a total of 42 students of the institution would be graduating with First Class honours as the institution holds its 12th convocation ceremony. Prof Ige stated this at a press briefing heralding the convocation ceremony held at the institution’s Business School in Akure, the Ondo State capital. Specifically, he said: “A total of 5,249 graduands from the 2020/2021 set will be honoured this year. The Faculty of Education

leads with 1,202 graduands, followed by Science, Arts, Social Sciences, Administration and Management Sciences, Agriculture, Law, the Institute of Part-Time, and the Institute of Education. 180 graduands will receive postgraduate degrees, with 24 in the PhD category. “Of the graduating class, 42 achievewd First Class; 1,088 in Second Class Upper Division; 2,264 in Second Class Lower Division; and 605 in Third Class. As expected, numerous academic prizes endowed by distinguished individuals and corporate organisations, will be awarded to outstanding graduands who have excelled in their respective fields.

ODA Honours Oyetola, Lagbaja, Adeniyi Ayodeji Ake

The Osun Development Association (ODA), a distinguished assembly of non-partisan Osun State elders, thought leaders, technocrats, and professionals, has honoured three prominent indigenes of the state for their outstanding contributions and service to the state and country. At a special recognition event held at the weekend in Lagos, with the theme:

‘Honour Well Earned’, the association presented awards of special recognition and honours to the former Governor of the state and current Minister of Marine and Blue Economy, Adegboyega Oyetola; the Chief of Army Staff, Lt Gen Taoreed Lagbaja, and the Comptroller-General of the Nigeria Customs Service (NCS), Mr. Adewale Adeniyi, who are all indigenes of the state holding prominent roles in the administration of President Bola Tinubu.

ISACA Lagos Holds 2023 Annual GRC Conference

The Information Systems Audit and Control Association (ISACA), Lagos State chapter, is to hold its annual Governance, Risk and Compliance (GRC) conference on December 7 and 8, 2023 in Lagos, from 9 a.m. to 5 p.m. daily. According to the President of the chapter, Mr. Tokunbo Taiwo, this year’s conference with the theme: ‘Enhancing Digital Trust Through It GRC’, will be a hybrid event that will feature a series of keynotes, panel sessions and paper presentations from seasoned professionals and thought leaders

from across the world. He added that the conference would have the Governor of Lagos State, Mr. Babajide Sanwo-Olu, as the special guest of honour, and several notable speakers among whom are Dr. Vincent Olatunji, CEO, Nigeria Data Protection Commission; Mr. John De Santis, Board Chair, ISACA Global; Mr. Christian Ekeigwe, Chairman, Audit Committee Institute; Mr. Mark Thomas, president, Escoute Consulting, United States, and Mrs. Adedoyin Odunfa, CEO, Digital Jewels Africa, among others.

in the Borgu local Government Area of Niger state The incident happened when

NAPTIP Advises Youths on Antics of Human Traffickers MichaelOlugbodeinAbuja

The Director General (DG) of the National Agency for the Prohibition of Trafficking in Persons (NAPTIP), Professor Fatima Waziri-Azi, has urged youths nationwide to be wary of the antics of human traffickers who come around them in the

clothing of helpers. She insisted that just like wolves in sleep clothing looking for who to devour, human traffickers come around youths disguising as helpers to take advantage of their naivety and sometimes helplessness. The DG emphasised that these individuals aim to deceive and derail

the future dreams and aspirations of unsuspecting youths. Waziri-Azi delivered this crucial advice yesterday , during her address to the Management and Students of Government Day Secondary School, Dutse-Alhaji, Federal Capital Territory (FCT), Abuja in commemoration with the 2023 16 Days of Activism

Against Gender Based Violence. Her address coincided with the inauguration of theAnti-Trafficking in Persons and Violence against Persons Vanguard at the school, marking the 104th Vanguard inaugurated by the agency across the country with support from the Ford Foundation.

Rivers: Ijaw Group Cautions against Resurgence of Militancy in N/Delta OnyebuchiEzigboinAbuja

A political interest group, ljaw Renaissance Force, has advised parties to the brewing conflict in Rivers State against allowing the political squabble to trigger another round of militancy in the region.

In a statement by the Coordinator of the group, Wisdom Oniekpar Ikuli, it warned that any impeachment or judicial stagemanaged removal of Governor Sim Fubara from office may not augur well for the peace and stability of the state.

“We, members of ljaw Renaissance Force, a coalition of ethnic nationalities and youth groups operating in Rivers and Bayelsa, have watched with grave concern the ongoing power tussle between Former Governor Nyesom Wike, now FCT Minister, and Governor

Sim Fubara of Rivers State. “We have also watched with baited breath attempts by some elected officials and other non state actors to stage manage the forceful removal from office of duly elected Governor Fubara through the back door without any justifiable reason.”

Group Cautions against Causing Disaffection among Secret Service Agencies A group has warned that the campaign against director general of the Department of State Service (DSS) could create disaffection among Nigeria’s secret services. The group, which is known as the Nation Building Imperatives (NBI), also cautioned that politicising and belittling the nation’s security

apparatuses would not bode well with the efforts to bind the country together. The group described allegations against the director general of the DSS as wild and unfounded and advised against challenging the integrity of the country secret service in exchange for political profits. vIn a statement

signed by the National Coordinator of NBI, Mr. Dagogo Henshaw, and its Public Affairs Officer, Mr. Danjuma Mwantok, NBI observed that there are efforts to create some form of tension and disaffection among the various secret service agencies, notably the DSS, the Defence Intelligence Agency (DIA) and the National Intelligence

Agency (NIA) and cautioned that if the current war being waged against the agencies is allowed to stand, the entire security architecture of the country would significantly diminish under the eroding influence of political carpetbaggers who do not have the interest of the nation at heart.

NANS Condemns Deadly Attack on Ogun Poly Students SylvesterIdowuinWarri

The National Association of Nigerian Students (NANS) has condemned the incessant attacks on students of Gateway Polytechnic, Sapaade in Ogun State. The student body warned that they would no longer watch and

allow more of their colleagues to be mowed down unjustifiably. On December 2, 2023, a student of Gateway Polytechnic, Ogun State, was shot dead and nine others sustained various degrees of injuries by suspected criminal elements. Reacting to the incident in a statement issued yesterday, the

President-elect of the NANS, Lucky Emonefe, confirmed that one student was killed and about nine others sustained bullet injuries in the ugly incident. He also disclosed that several female students were sexually assaulted and defiled, and property worth millions of naira

was destroyed. “This is one too many incidents from the same school and community. It will no longer be tolerated from any criminal element whose aim is to frustrate, attack, harass, embarrass, molest, assault, rape, defile, maim and/or even kill the Nigerian students’ dream,” he said.

Lagos Revamps PHCs, Provides Health Insurance Cover for Residents SundayOkobi

In its efforts to cater to the medical needs of the residents of the state, the Lagos State Government has revamped its primary healthcare system, segmenting them into districts, as well as providing health insurance

cover for the people of the state. For efficiency in its medical outreach to the populace, the state now has more than 300 primary health care centres (PHCs). These centres have been divided into six districts, with each of the district supervising a number of these

PHCs. The Permanent Secretary of Lagos State Health District 4, Dr. Abimbola Bowale, disclosed these to THISDAY during a Health and Community Stakeholders meeting with the leaders and people of Apapa community. Apart from the segmentation of

PHC, Bowale said the state now has what he called ‘Ilera Eko’ which is the health insurance. He added that those registered on ‘Ilera Eko’, “if they go to any of our PHC or any of our General Hospitals, they are treated for free because they’re registered.

TUESDAY, DECEMBER 05, 2023 • THISDAY

back page continuation N i g e r ia’s D e l e gati o n at C O P 2 8 in D u b ai some quibbling and tittle-tattle over the exact size of the delegation. I am familiar with that. In our time, when the Naira exchanged for less than N150 to the dollar, and Nigeria was a high performing economy in Africa, with an annual GDP growth of over 6%, Sahara Reporters constantly complained about the size of the President’s delegation to conferences. If the number was anywhere near 30, Sahara Reporters would raise an alarm, and if I called to complain about a deliberate attempt to de-market the country and the Presidency, the publisher Omoyele Sowore would tell me that he was an Ijaw man who had no reason to de-market his own brother, and that in any case he had a copy of the delegation list. I put it all down to sabotage from within. But this time the situation is slightly different. The information out there in the public domain about President Tinubu’s delegation to Dubai is extracted by the analysts from the COP 28 website, and from reports by Statisense, a leading AI data company, and instructively from State House list. Whereas the details and figures may differ just slightly, what is clear is that Nigeria has a total delegation of 1, 411 persons in Dubai for COP 28. One newspaper reported that the main delegation travelled to Dubai in three plane loads – chartered flights, and the worst part of it is that the Nigerian government did not give the contract for the air freight to any domestic airline. The total cost of the air ticket for the 590 delegates on the Federal Government’s account is estimated at N880 million. To be added unto this is the vast expenditure on hotel accommodation and estacodes. In a Statisense report, estacode per night for a Minister is $900, Special Adviser $800, Director General of MDAs - $900, House of Representatives member - $900… and so on. The only category that I did not see is the estacode for mistresses, family members and confidantes who according to the opposition parties, notably the People’s Democratic Party (PDP) and the Labour Party (LP) are all over Dubai as delegates. Ovieteme George, Arise News Correspondent reporting from Dubai, has claimed that he has not seen most of the delegates at key events that he has covered so far, not even at the Nigerian Pavilion: at most, the President and a few persons are the active ones at the event. Our investigative journalists would do well to check the shopping malls of Dubai, or cozy hotel rooms where far more pressing and important climate change discussions may be taking place among Nigerians! Debo Ologunagba, speaking for the PDP has complained about an “over-bloated delegation” brimming with “cronies, political minions and mistresses at huge expense to the nation”. Peter Obi says Nigeria’s capacity to compete with China

President Bola Tinubu should be in the area of productivity, rather than the waste of resources on delegates to conferences, junkets, as well as unnecessary ceremony and showmanship as a mode of government behaviour - at a time more Nigerians are living in multi-dimensional poverty. Waziri Atiku Abubakar, PDP Presidential candidate, says Tinubu is in Dubai for an “owambe” party, an all-comers jamboree, that is ridiculous and indicative of a lack of governance, awareness and responsibility. The only voice of protest that I have not heard is that of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) who have been championing the call for accountability in the management of state resources. Someone has since whispered to me that they too may have their representatives in Dubai as part of the COP 28 party! The tone of the response by the Federal Government is to dismiss the protests as opposition gimmickry. I doubt if this is politics. Temitope Ajayi, spokesperson to the President, was the first to offer a defence along the line that most of the delegates in Dubai are from the private sector and civil society organizations who paid their way to the conference to promote their respective causes, and that in any case, it is standard practice for all delegates to be registered against their country of origin, in addition to Nigeria being the most populous country in Africa. Ajayi was responding to reports that the Nigeria Council on Climate Change

has 54 persons in Dubai, 53 from the Ministry of Environment, 36 from the National Assembly, and the Presidency- 138 and so on and so forth, making a total of 590 on the government list. Yesterday, the Minister of Information, Mohammed Idris fouled up the waters further in a press statement, in which he argued funnily that the Federal Government-sponsored delegation “is made up of a total of 422 persons.” He even tried to revise the breakdown in an even funnier manner. Would anyone ask the Minister, what exactly is the difference between 422 and 590? Can he tell Nigerians the difference between Okeke and Okereke? Sometimes, it is better for our leaders to keep quiet than to open their mouths and embarrass government. Minister Idris obviously does not get the point. He even mixed up the numbers in trying to “set the records straight”. COP 28’s official published list says more than 97, 000 participants are attending COP 28 in person. In order to justify his spin, he cuts the number to “more than 70, 000”! Very bad optics. African leaders have often been criticized for rushing to any International Conference to mark the attendance register whereas they should be insisting that some of these conferences should be held in Africa. This year, Morocco has sent a delegation of 823 persons to Dubai, Kenya, 765; Tanzania 763, Ghana, 618! Nigeria has a low GDP compared to other countries, the country’s currency is over N1, 000 to the US dollar, inflation is 27. 33%, Nigeria is planning to borrow almost 100% to fund its 2024, 27.5 trillion, budget. Nigeria has now been said to have the same number of delegates with China in Dubai but while China is the second largest economy in the world, Nigeria runs a bankrupt economy. It is so bad that Nigeria imports traditional African batik, popularly known as adire and cassava flakes, garri, that our grandmothers used to produce from China! We even import toothpicks, and yet we have 1, 411 persons attending a conference in Dubai spending to help build the UAE economy. The Tinubu administration tells Nigerians to tighten their belts and make necessary sacrifices for the country to regain and restore hope. Our leaders must lead by example. Malawi is not in Dubai this year. This is because its President, Lazarus Chakwera, in November, decided to suspend all foreign trips by himself and government officials till March next year. He cancelled his attendance at COP 28 as part of a number of austerity measures that he announced. Malawi recently took a fouryear loan from the IMF – about $170 million. The country also devalued its currency, the Kwacha, by 44%. The country faces a cost-of-living crisis. The President says the country needs to save money, and the responsibility for doing so includes every one in government. In Zambia, President Hakainde Hichilema, upon assumption of office, refused to

collect salaries for eight months, stating that he was more interested in serving the people. He refused to buy new cars for the Presidency. These are living examples for Nigerian leaders to emulate. Most of our people in Dubai COP 28 at government expense have no business being there. We can only hope that all the 1, 411 persons attending the party in Dubai will return home and not use the opportunity of the UAE visa to “Japa.” When all is said and done, Nigeria must institute regular mental health checks for public officials. I simply cannot understand why as part of the main highlights of Nigeria’s participation at COP 28, top executives of two government agencies with headquarters in Abuja - the Rural Electrification Agency (REA) and the National Agency for Science and Engineering Infrastructure (NASENI) are in Dubai to sign a joint Memorandum of Understanding and make a song and dance out of it. This is the very height of buffoonery and stupidity! Now, the main event itself: the success of COP 28 would depend on what language is used in the final agreement – whether there would be an agreement to “phase out” fossil fuels or to “phase down”. This is one of the most controversial issues at COP 28 despite the fact that 100 countries already support a phase-out of fossil fuels. UN Secretary-General Antonio Guterres told COP 28 last Friday that “the science is clear…Not reduce. Not abate. Phase out with a clear time frame.” Many other countries have a different attitude. UAE’s Sultan Ahmed Al Jaber, President of COP 28 was not joking at all when he thundered at a high-level meeting that there is “no science behind the demands for a phase-out of fossil fuels.” His country is in fact planning to ramp up oil production. He insists that a phase-out decision would block sustainable development. Some progress may have been made with regard to loss and damage funding, Article 6, climate adaptation/ financing, but the looming failure to reach a consensus on the future of fossil fuels by December 12 may well be the major story of COP 28. Other countries may not have voiced their hypocrisy openly but there are many of the privileged, developed countries, and Big Oil companies that are just window-dressing on climate issues and the scale of the energy transition. In September, the UK Prime Minister, Rishi Sunak did a U-Turn on net zero emissions. He had earlier approved 100 new licences for oil and gas drilling for the North Sea. Green groups in the UK were aggrieved; they subsequently launched an attack on his North Yorkshire home. He could not be bothered. It should therefore not be surprising that the UK has pledged just a mere $60 million to the loss and damage fund. The US even did worse: $17.5 million, and Japan - $10 million. Payments to the Fund are voluntary, keeping the devil at the centre of the details.

that would serve Nigerians and the new Yar’Adua administration creditably and with distinction. After all, he had just done Lagos State proud with his work in the reduction of the national debt profile with innovation and discipline brought to the national budgeting process. However, an over assuming senate had other views, his straight talk, his ‘rocking the boat’ and other reasons less than savoury, were responsible for his name being rejected by the Senate. Agusto was pleased that he wouldn’t have to serve on anything less than on his own terms. He had spoken truth to power! This was why, he must have thought, he was not interested in politics in Nigeria where meritocracy could be rejected in favour of patronage. Edun recalls, Agusto said that he believed that the budget didn’t work because he and other right- thinking people believed that it was an instrument of finance and planning; whereas the majority in government positions felt that it was actually a political tool. And then there was golf, his beloved game that

would bring him much joy and peace, yet still finding time for professional speaking engagements. For instance, the extensive session on the economy’s trends and the service sector, he gave at my law firms’ (ALP NG & Co) firmwide retreat at my request (this year) on 5th of January 2023. I was and still am a great admirer, he was a mentor and a great friend, this was an honour indeed. Golf & Portugal were interwoven into his life, he made a second home in the Algarve, a region of southern Portugal, that boasts of being the maritime and tourist destination of the country. The southern Portuguese town ‘Lagos’, after which his hometown, Lagos in the southern region of Nigeria, was named, was not far away. He loved the two Lagos towns, settling in Vilamoura, Portugal, fifty-six minutes’ drive from the Portuguese Lagos. Bode Agusto was a committed family man. He married his childhood friend Adetoun in 1982, she sadly passed away in December 1985. They had two children. He once said, ‘I look within my house, the most important thing anybody can leave in this world is good children, I am grateful’. He is survived by his family that he doted over dearly, his loving and devoted wife Edna, children Olande, Adebowale & Olubusayo, Motunrayo & Omoseni, Oluwalanu and Olubunmi; and grandchildren Amal, Olusemilore and Aarinola. They grieve for him sorely. Moreover, he will be missed by brothers, sisters and close relatives – Basheer Agusto, Harrisat Agusto, Mudafiat Agusto-Brown, Olufunlola Aderinokun (nee Agusto), Oluwatofarati ‘Papai’ Agusto, Obafunmilayo Agusto, Abdulrahman Agusto, Akin Kekere-Ekun, Bisade Biobaku, Idunnu Oyebolu. As well as by close friends who are ‘brothers’, close associates and admirers. His lifelong friends must be mentioned Fola Adeola, Tayo Aderinokun (who sadly passed in June 2011), Nelson Bola Oyesiku, Tosin Shobo, Akin Akintoye, Stan Adeyemi, Aboaba Adeoye, Toks Famoroti, John Martins, Jimi Agbaje, Bode Karunwi, Lekan Belo. Friends contemporaries and other associates include Yemi Johnson, Femi Akingbe, Soji Awogbade, Tunde Imoyo, Sola Adeeyo, Emeka Emuwa,Segun Agbaje, Aigboje Aig-Imoukhuede, Herbert Wigwe, Gbolade Osibodu, Nduka Obiagbena and many more. Back to the ‘Lagos’ this side of the Atlantic, where he leaves a gaping intellectual void. Above all, he will be missed by Nigeria – she has lost a brilliant, irreplaceable mind. Let’s hear Bode Agusto again “…don’t draw lines in your life, go wherever you believe you can prosper …I have no regrets …work hard and almighty God will bless the work of your hands”! •Olasupo Shasore SAN Lagos, November 2023

A B r i l l iant M ind : Sti l l ‘ R o c k in g th e B oat.’ Creek Hospital, Lagos, he was named Mubasheer. ‘Mubasheer’ literally meaning the bringer of good tidings. His path of pioneering and greatness was almost already predestined. He imbibed many deep teachings of his faith for instance: ‘in life, let your load be light … giving you peace of mind’. (see his interview with Iconic Persons) From his own admission, Bode was influenced by the values that his grandfather, the Chief Imam, taught and the values his father espoused. The influence of his primary school – St. Peter’s Faji School; Methodist Boy’s High School; St. Gregory’s College; University of Lagos (MIT & Wharton were just professional courses) National Youth Service was dutifully served, modestly at UTC Motors, Aba in accordance with the law. Price Waterhouse was his first professional placement in Lagos in 1978. The merger between Price Waterhouse and Coopers & Lybrand creating Price Waterhouse Coopers, was not to happen till 1998. He qualified as a chartered accountant in May 1981, winning Third Prize in the Overall Order of Merit. He worked at Citibank, becoming Head of Treasury Operations, returning to Price Waterhouse Coopers in 1990 and taking charge of the Financial Services Group. Then there was the ultimate, on the 2nd of January 1992, Bode founded Agusto & Co. Ltd as a consulting firm providing training, strategy and financial consulting, industry analysis and research. In a market already dominated by populated by the global company Andersen Consulting and then its offshoot Accenture - this was daunting. Yet Agusto & Co. thrived, creating the pioneer in Nigeria and most of Africa’s – credit rating and reporting service in Nigeria, publishing the first credit ratings of Nigerian banks and corporates in 1993. After being told that this was not possible. Bode had ‘rocked the boat’. Femi Edun, himself an accountant, a protegee, mentee and founding colleague of Bode Agusto at Agusto & Co. recalls that his leadership style was one of intense coaching for professionalism but was confident of the new firm’s success because above all ‘he loved Nigeria deeply not just its amazing potential but the strength of its human capital’. By 1998, Agusto & Co. had become a market staple, it was licensed by the Securities & Exchange Commission as the first credit rating agency in Nigeria. Yet it wasn’t till 2019 that African Union’s finance ministers signed a declaration that an African agency was needed. On any occasion the well-chiseled features of his face would break into a broad smile and then Agusto would say, ‘when I walk into Agusto & Co. seeing people working there, none a relative of mine and seeing people helping others thrive, it is humbling, that gives me a lot of positive vibes…’

The late Agusto He was proud, and rightly so, of Agusto & Co., having built a true professional institution that would stand the test of time. His pioneering work at Agusto & Co. earned him the National Honour of Member of the Federal Republic, MFR in 2002. In 2003, the Obasanjo Administration drafted Agusto to serve as Director-General of the Budget Office of the Federation and Special Adviser on Budget Matters. He was therefore a member of the President’s Economic Management Team and served on the Board of the National Pension Commission (PENCOM). He served the nation in these roles until the end of the Obasanjo administration in 2007. ‘I’m not in government to help my friends’ was his response to pressure from a friend to bend the rules while he was in public service. He was ‘rocking the boat’. In July 2007 Bode was designated as the Lagos nominee for Minister of the Federal Republic and was constitutionally obliged to be screened by the senate for confirmation. No one in his right mind had any doubts that this was an eminent choice

T H I S D AY • TUESDAY, DECEMBER 05, 2023

TUESdaysports

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

0811 181 3083 SMS ONLY

Falcons in Cape Verde to Pick WAFCON 2024 Ticket Today

S’Africa, Algeria join hosts Morocco as early qualified teams

Duro Ikhazuagbe The Super Falcons will this evening take on Cape Verde in the second leg of the final qualifying game for the 13th Women’s Africa Cup of Nations (WAFCON finals in Morocco. The return leg encounter will begin at 4pmCape Verde time (6pmNigeria time) today. The nine-time African champions spanked Cape Verde, a country

situated inside the Atlantic Ocean, some way off the extreme wing of West African sub region, 5-0 in the first leg played in Abuja last Thursday. The Nigeria contingent arrived in Cape Verde’s capital, Praia on Sunday morning, and after a light workout same day, yesterday had their official training at the SantiagoEstádio Nacional Cabo Verde, venue of the match at 4pmCape Verde

time (6pmNigeria time) yesterday. The Nigeria Football Federation (NFF) described as ‘admirable’ the mental toughness displayed by midfielder Peace Efih in helping the Super Falcons to the five-goal spanking of Cape Verde in the first leg. Efih’s biological mother breathed her last 48 hours before the clash with Cape Verde, but the player was her hard-as-nails self in defensive

midfield as she paired captain Rasheedat Ajibade and petite Deborah Abiodun to supply the ammunition that dismantled the visitors at the MKO Abiola National Stadium. President of NFF, Ibrahim Musa Gusau, said: “We must commend, specially, the mental strength and fortitude of Peace Efih, who lost her mother two days ago but opted to remain in camp and help the

team to win well today. Hers is an example of a super patriot who will give everything for the good of the motherland. Efih’s toughness and productivity earned the Falcons a 5-0 win in Abuja, making today’s return leg in the island nation all but a mere formality for the nine-time champions. Yesterday evening, cup holders, South Africa, qualified for the 2024 Women's Africa Cup of Nations with a 2-0 home win over Burkina Faso in the second leg of their second qualifying round tie. Having drawn the first leg 1-1 in Yamoussoukro on Thursday, Linda Motlhalo's 55th-minute penalty put Banyana Banyana ahead on aggregate in Pretoria. Nicole Michael wrapped up victory with four minutes remaining as Desiree Ellis' side became the second country to confirm their place at next year's tournament after hosts Morocco. In Burundi, Algeria also finished the job away from home with a 1-0 win over the East African nation to make a return to the competition

after missing out on the 2022 edition in Morocco. Going into the clash with a comfortable 5-1 lead at home, the North Africans had a relatively easy return leg against Burundi who had a very tough mountain to climb in reversing the lead.

TODAY (Final Rd, 2nd Leg) C’Verde Egypt Guinea Togo Botswana Congo Zambia DR Congo Namibia

v Nigeria (0-5) v Senegal (0-4) v Mali (2-7) v Tanzania (0-3) v Kenya (1-1) v Tunisia (2-5) v Angola (6-0) v E’Guinea (1-1) v Ghana (1-3)

Results S’Africa 2-0 B’Faso (agg 3-1) Burundi 0-1 Algeria (agg 1-6)

Premier League Agrees Record £6.7 billion Domestic TV Rights Deal Nigeria’s Super Falcons are in Cape Verde to seal their qualification for the 2024 Women Africa Cup of Nations to be held in Morocco

Alimi, Mizo Are NPFL’s Top Shots for Golden Boot Remo Stars Sikiru Alimi and Robert Christian Mizode of Bayelsa United are joint top scorers with nine goals each in the 2023/24 Nigeria Premier Football League (NPFL) season. Mizo as he is popularly called by Bayelsa United fans, narrowly missed out on the golden boot last season to Enyimba's Emeka Mbaoma. But the story is changing this season for the Bayelsa United

top scorer with a total 108 of the 110 fixtures already played. In other stats released by the NPFL Competitions Department, 79 wins have been recorded with 73 registered by home sides while six wins were on the road and 29 draws. The season has so far recorded a total of 215 goals, an average of over 2 goals per match. Of the lot, 151 goals were scored by the home teams and 64 by

the traveling teams. Referees have awarded a total of 16 penalties while 12 were scored, the rest four were missed. There have been seven own goals out of the 215 scored. In the course of the 108 fixtures, a total of 407 cautions have been issued by Referees with 11 players expelled from games. After Match-day 11 games during which Rivers United missed two due to international club

competition fixtures, Remo Stars lead on the log with 22 points, 17 goals for and nine against to have a plus eight goals surplus. The Ikenne side have equally proven to be the most prolific, banging in 17 goals. With just five goals conceded so far, Doma United and Bendel Insurance parade the best defensive walls. On the other hand, Bayelsa United have the worst defence, shipping in 20 goals.

Golf: Eben-Spiff Reclaims Lakowe Club Championship Title Peter Eben-Spiff, has been crowned 2023 Lakowe Lakes Golf Club champion after two days of hostilities that ended on Sunday. He had won the title thrice in the past. Spiff, three-handicapper, returned a 74 gross score on the first day of the Lakowe Course crowning event of the year, where Adetunji Adebayo and Lemmer Daniel lurked

behind with two and four shots respectively. “It was a well contested competition and I am very glad Tunji and Mr. Lemmer gave the title a fight. I owe this victory to them,” gushed the champion after a closing 74 (+2) that totaled 148 and six strokes edge over Adebayo, last year's winner. Lemmer placed third after the

36-hole event. Fatumata Soukouna, defending lady champion defended her title after returning a 158 gross score in the two-day encounter, Jummai Abdullahi finished in second place with a 170 gross score. Lakowe Lakes Golf Club Golf Manager, Femi Olagbenro, said the events like the Club Champion help

L-R: Ladies Category Winner, Fatumata Soukouna-Coker; Men’s Winner, Peter Eben-Spiff; and Winner of the Veteran category, Prince Yemi Ajibola; shortly after they were presented with their trophies at the 2023 Lakowe Lakes Golf and Country Club Championship...at the weekend

set the stage for more social interaction between the club members, strengthen the bond among players, and create platforms for corporates to leverage. “The Club Championship is the crowning event for the members and this year is in no measure different, in terms of participation and the level of skills on display. That is how important the event has come to be on the club’s calendar,” Olagbenro added. Winners of the club’s Orderof-Merit for the 2023 golfing year were also announced, with Wilson Egberipou, Davis Maji, and Kyeongtaek Park emerging as the top three gentlemen respectively. Jummai Abdullahi topped Simbi Wabote and Okey Ananaba and Peter Eben-Spiff for the Mixed Singles Matchplay for the outgoing year. The Lakowe Lakes Golf Club Championship 2023, also produced Kyeongtaek Park, Fidel Albert, and Vitus Ezeh as winners in the gentlemen's net category, while Prince Yemi Ajibola finished three strokes ahead of Francis Olo to pick the Veteran’s honour at the event.

The Premier League has agreed a new record £6.7bn domestic television deal for Sky and TNT to show up to 270 live games a season. The deal includes the BBC continuing to show highlights on Match of the Day. The top flight said the deal, which covers the four years from the 2025-26 season, is the "largest sports media rights deal ever concluded in the UK". The Saturday 3pm blackout will remain in place, but every 2pm Sunday kick-off will be televised. The BBC's deal includes MOTD2 and Football Focus plus additional digital rights for its online platforms. Sky has been awarded four of the five packages and will show a minimum of 215 matches a season including Saturday 5.30pm kick-offs, Sunday 2pm and 4.30pm kick-offs, plus evening games on Mondays and Fridays

and three midweek rounds. TNT will show a minimum of 52 matches a season including all 12.30pm kick-offs on Saturdays and two midweek match rounds. Sky Sports will also broadcast all 10 matches on the final day of each season. Amazon, which shows 20 matches per season under the league's current deal, has not secured rights in the new agreement. This is the first time the Premier League has been through a tender process for its rights since 2018. The current £5bn domestic TV rights deal, which expires at the end of the 2024-25 season, was allowed to be extended because of the Covid-19 pandemic. The Premier League said the new deal will "provide financial certainty for clubs throughout professional football until at least 2029".

Ogun 2024 Gateway Games Goes Digital It will be a first of its kind as the Games of the 22nd edition of the National Sports Festival gets its own apps aiming to revolutionise the overall experience of what will easily pass as the best edition ever. Never before in the past 50 years had a mobile application been developed for the games. But the 2024 edition, codenamed “Gateway Games” is opening new vistas for innovation. It is on the verge of a revolution that will give the attendees, the athletes, organisers and sponsors a new experience by the leverage of a state-of-the-art technology. A mobile app is being developed that will take the Gateway Games beyond the confines of Nigeria, giving the global audience a real-time experience on their

mobile phones and computers. According to Abiola Odetola, who is working on the digitalising the Gateway Games, two companies, VerveTree Global Resources and Karpos Creation Limited are working on the development of the cutting-edge app. While making a presentation to the Local Organising Committee at a retreat in the facilities of Beyond Limits Football Academy in Ikenne, Odetola remarked that he gained inspirations from experiences at the Qatar 2022 World Cup and organisers of the forthcoming Paris 2024 Olympics. He disclosed that spectators and fans will enjoy real-time access to event schedules, live streaming and athletes’ profiles.

Tuesday, December 05, 2023

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Amnesty International to Tinubu

“Nigeria’s President Tinubu’s administration has failed to ensure respect for human rights and the rule of law after six months in office...The Nigerian authorities must ensure that human rights are at the centre of their policies, implement findings of previous investigation panels on human rights violations...must publicly commit to ending decades of human rights violations...” --Amnesty International’s Nigerian Director, Isa Sanusi, accuses the president of paying lip service to human rights.

TUESDAY WITH REUBENABATI Nigeria’s Delegation at COP 28 in Dubai T abati1990@gmail.com

he biggest story in Nigeria at the moment is the size of Nigeria’s delegation to the Conference of Parties (COP) of the United Nations Summit on Climate Change, otherwise known as COP 28. In simple terms, the objective of the Conference of Parties is to secure multilateral, bilateral agreements on the consensus by a panel of international, intergovernmental, climate change scientists (IPCC) that for our world to be save, global temperatures must be kept at a level not above 1.5C, as adopted in the 2015 Paris Climate Agreement, beyond which the whole world will be at risk. Before this year’s conference, it was disclosed in a UN Report that the world was indeed endangered and that the threshold could go beyond 2 degrees C. By September 2023, the world had exceeded the projected limit, far above pre-industrial levels. This was meant to put pressure on world leaders to pay more attention to the threats of carbon emission, climate change, and the impact on human communities, that is challenges induced within the global ecosystem by the rise in sea levels, hurricanes, floods and environmental disasters, occasioned by man’s abuse of and neglect of the environment: man-made, man-conditioned environmental crisis. Climate adaptation, carbon markets, and climate financing are issues that have been atop the global agenda in the last three and more years. UN Secretary General, Antonio Guterres, said the “emissions gap

President Bola Tinubu is more like an emissions canyon”. From COP 26 in Glasgow, Scotland, to COP 27 in Sharm el-Sheikh in Egypt, the Africa Climate Week organized by the African Development Bank Group in Nairobi, Kenya, in September 2023 (Africa’s 11th Conference on the subject), and now the COP 28 in Dubai, United Arab Emirates, the goal has been to keep global warming to a limit of 1.5C or 2 C.– the

second threshold in the Paris Agreement. High income countries account for the bulk of greenhouse gas emissions. At COP 26, commitments and pledges were made across the public and private sectors. At COP 27, in Egypt last year, many key arrangements remained unresolved, especially the demand by the developing countries for a loss and damage fund to compensate low-income nations. The main achievement of this year’s event would be the resolve on Day One to agree on a loss and damage deal for green-house gas emissions. Payments are to be made into the fund on a voluntary basis. The World Bank will host the fund for four years on an interim basis. A number of countries have already made pledges: Germany ($100 m), UAE ($100m), United States ($17.5 m) and Japan ($10 m). It is still a far cry from what is required, but it is a historic, hard-fought achievement. For good reason, Nigeria is a participant at COP 28. We showed up in 2021at COP 26, where during the presentation of National Statements, President Muhammadu Buhari pledged Nigeria’s commitment to a net-zero emission policy. Buhari was not in Egypt for COP 27, the country was represented by Mohammed Abdullahi who was then Minister of Environment. This year at COP 28, Nigeria’s new President, Bola Ahmed Tinubu is fully on the ground in Dubai for the World Climate Action Summit scheduled for a total of 13 days – November 30 to December 12. President Tinubu has been very active, participating at high level sessions where he has shared the platform with world leaders

including the COP 28 President, Sultan Ahmed Al-Jaber, former US Vice President and Climate Change activist, John Kerry and the Chinese Envoy on Climate Change. President Tinubu has also met on the sidelines with Chancellor Olaf Scholz with whom he discussed Nigeria’s energy needs and the need to deepen collaboration with Germany, Prime Minister Mark Rutte of the Netherlands, President William Ruto of Kenya, President of Namibia, Hage Geingob, and climate activist and philanthropist, Michael Bloomberg. He has made statements about Nigeria’s commitment to end gas flaring, reduce carbon footprint and commit not just to an energy mix, but an eco-friendly future driven by sustainable, alternative energy to turn Nigeria into an investment friendly environment for carbon market investments. He has also been using every opportunity to ask for collaboration with other nations. At the African Green Industrialization session on Saturday, President Tinubu further made a strong case for Nigeria and Africa. It is most unfortunate, however, that Nigeria’s participation which should have turned out as one of President Tinubu’s major outings on the international scene from the perspectives of economic diplomacy and sovereignty affirmation, has now been marred, irretrievably by reports of Nigeria’s large delegation at the conference- the largest from Africa, the fourth largest globally after the host country, UAE, Brazil and China, attending a 13-day event. There has been Continued on page 30

OlasupoShasore A Brilliant Mind: Still ‘Rocking the Boat’ guest columnist

Olabode Agusto (14 September 1955 – October 2023 and still …) Accountant, Economist, Finance professional and great Thinker.

‘P

eople will always behave like human beings …it’s not about the exchange rate but your exchange policy…why would you trust someone who says one thing and does another..(the government) uses 80% of its revenue to pay salaries, between 15 -60% to service interest, it will borrow N2-3Trillion for infrastructure… at interest rate of 15% that’s N300 Billion with revenues of N3Trillion that’s 10% … these are the big issues that need to be addressed.. issues we must resolve if we don’t resolve (them) we will not have development.’ Typical. These were the typical, seasoned words of Olabode Agusto speaking at an economic forum on the 30th of March 2017. These words are even more relevant today as if he were here now to give advice to today’s government. Agusto believed that ‘we can solve the problems of Nigeria in five years’- if as he often said, we have “sincerity of purpose”. Today, this gives Nigeria hope, if as he said, “we do the right things” despite, as he said, a concentration of wealth (in the hands a few) and even though “there should be a more even distribution of wealth”. But no one could be (or is) surprised at Bode’s

The late Agusto plain, straight talk then and now. He was renowned for his forthrightness and speaking truth to power, whatever the occasion. ‘Rocking the boat’ was not something he was afraid of. But then this was hardly surprising. Olabode Agusto was born from a long line of ‘boat rockers.’ His great-grandfather Jao ‘Taiyese’ Agusto was one of the pioneering Brazillian returnees. His grandfather Mohammed Lawal Basil Agusto was born in Lagos in 1880, decades after the first waves of Afro-Brazilians returned ‘home’ to Lagos

in the 1830s. A Lagos in which Portuguese was more widely spoken than English, the Agustos were among the Africans of Afro-Brazilian heritage that made the Crown Colony of Lagos and eastern part of Lagos Island, home, dedicated for them by the Oba of Lagos to settle. The area was then named ‘Popo Aguda’, and Bamgbose Street where the Agustos lived - was its nerve centre. There the Afro-Brazilians contributed richly to a distinct Lagos culture, where Roman Catholics lived in neighbourly embrace with Muslims. Both returnees from Brazil and often in the same family. In the year 1921 a census of Nigerians was conducted in Southern Nigeria with a figure of 8.4 million recorded for Southern Nigeria and 10.4 million for Northern Nigeria . The vibrant colony was in its growing era. At that time, among the Lagos native community, a considerable amount of political capital was made out of the return to Lagos of Amodu Tijani, the Chief Oluwa of Lagos on the conclusion of his successful appeal to the Privy Council (House of Lords) in London against the colonial government. In a celebrated legal battle, he had won rights to land in Lagos for native Africans. The shipping line Elder Dempster & Co. Ltd., owned the greater part of the shipping trade and maintained regular services between the United Kingdom and Nigeria for passengers, mail and cargo. The 16-day voyage from Liverpool to Lagos covered 4,200 miles.

And so it was in that year, on the 30th of August 1921, that Mohammed Lawal Basil Agusto was admitted as a barrister to the Honourable Society of the Middle Temple in London and returned to Lagos on the Elder Dempster line - a pioneer. He would pioneer again, founding with others the Ahmadiyya Movement in Islam and then Islamic Society of Nigeria and eventually acquiring the title of Chief Imam of Lagos. He had risen in his profession to become Queen’s Counsel and in business he joined others to establish the National Bank of Nigeria. He broke away from the Ahmadiyya movement and became again a pioneer - the founder of Jamat-ul Islamiya. And then there was Olabode’s father – Basheer Adewale Agusto, born 5th December 1919. He was himself admitted to the Honourable Society of the Middle Temple on 9th June 1948, later becoming a councillor in Lagos Town Council under the National Council of Nigeria and the Cameroons (NCNC) banner while continuing with the Jamat-ul-Islamiya movement and was a foundation member of the prestigious Crescent Bearers’ Society, that pursued the education of children through mission schools amongst other laudable social objectives. And then there was Olabode Akangbe Agusto, born to Kudirat Olande Ashabi Agusto and Basheer Adewale Agusto on the 14th of September 1955 at Continued on page 30

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