WEDNESDAY 8TH DECEMBER 2021 by THISDAY Newspapers Ltd

Buhari Flags Off $300m Afreximbank's Medical Centre, Laments Brain Drain Facility to save $7bn annual medical tourism spending, says Oramah

Deji Elumoye and Emmanuel Addeh in Abuja

President Muhammadu Buhari yesterday conducted the official take-off of the planned $300

million African Medical Centre of Excellence (AMCE) to be implemented in Abuja by the

Benedict Oramah-led African Export–Import Bank (Afreximbank).

At the event which he attended virtually, the president who decried the rising cases of

non-communicable diseases like Continued on page 12

S&P Foresees Nigeria’s Private Sector Credit to GDP to Hit 18% by 2023... Page 6 Wednesday 08 December, 2021 Vol 26. No 9739. Price: N250

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Equinix to Acquire MainOne in $320m Deal Emma Okonji

LIQUEFIED PETROLEUM GAS WEEK AT DUBAI EXPO... L-R: UAE Minister for Energy HE Suhail Mohammed ( Left) , Vice President Yemi Osinbajo, SAN; Chief Executive Officer, Dragon Oil PLC Saif Humaid Al Falasi, billionaire politician and member of Dubai's ruling Al Maktoum family, HH Shekih Ahmbed Bin Saheed Al Maktoum, Kaduna State Governor, Nasir El-Rufai and other Dubai businessmen and state officials, during the exhibition stand tour at the 2021 Liquefied, Petroleum Gas Week in Dubai, UAE… yesterday

With the successful acquisition of GPX India and 13 Bell Data Centers in Canada, Equinix, one of the world's digital infrastructure companies, yesterday announced Continued on page 12

Archbishop of Canterbury Condemns Nigeria’s Red Listing, Calls It Travel Apartheid Wants restriction scrapped Travel ban discriminatory, attack on diplomatic relations, Senate tells UK NCDC confirms three new cases Seven travellers from Nigeria test positive in UK NCAA threatens to ban international airlines that flout COVID-19 protocols Deji Elumoye, Onyebuchi Ezigbo, Adedayo Akinwale, Emmanuel Addeh in Abuja and Chinedu Eze in Lagos The Archbishop of Canterbury, The Most Rev. Justin Welby yesterday

waded into the growing outrage among Nigerians condemning the United Kingdom’s (UK) inclusion of Nigeria in its COVID-19 red list without justification, saying it was Continued on page 12

SIGNS HISTORIC GENDER INCLUSION BILL INTO LAW... COVID-19: Sanwo-Olu Urges Lagos to ABDULRAZAQ L-R: Female student Zanab Idris; Senator Umaru Sadiq (North); Senator Yahaya Oloriegbe (Central); Minister for Women Affairs, Dame Pauline Tallen; Kwara State APC Prince Sunday Fagbemi; Governor Abdulrahman Abdulrazaq; Deputy Speaker, Kwara House of Assembly Hon. Raphael Adetiba; Speaker Kwara State Prepare for Fourth Wave, Threatens Chairman-elect, House of Assembly, Rt Hon. Yakubu Salihu Danlandi; Majority Leader Kwara State House of Assembly, Hon. Mogaji Abubakar; and student Balikis Usman; during the of Kwara State's historic Political Offices (Gender Composition) Bill 2021 at the venue of the State Women Conference yesterday. The law, first of its kind in to Prosecute Fake Test Holders... Page 10 signing Nigeria, mandates the state to have at least 35% women appointees in the state executive council and other classes of political appointments.

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

NEWS Edo Secondary School Students Unleash Terror on Teachers, Security Personnel 49 in custody for willful damage to public property Adibe Emenyonu in Benin City

LAGOS: 21ST CENTURY REAL ESTATE INVESTMENT HUB... L-R: Chief Operating Oﬃcer, Gracias Global Properties Limited, Mr. Wale Ponnle showing a housing model to Lagos State Governor, Mr. Babajide Sanwo-Olu and his Special Adviser on Housing, Mrs. Toke Benson-Awoyinka, during the opening of the second Lagos Real Estate market place conference and exhibitions held at the EXPO Hall, Eko Hotels and Suites, Lagos... recently

Students of Idogbo Secondary School in Ikpoba-Okha Local Government Area of Edo State,last week, went on rampage, destroying cars, office equipment and buildings in their school. The vandalism was captured in a video that went viral on Friday by students of the school, who were on rampage, attacking teachers, police officers, destroying cars, and setting offices ablaze. An insider, who did not want his name in print, said though they were shocked at what happened, they were anticipating security problems as it has always been so, whenever they were writing exams. "As our tradition here during the end of every term examinations, we do invite security officers to avoid any breakdown of law and order. So, the examination was to stop at the 10th of December, days before vacation. "But, days before the exams started, we were battling with students throwing bangers and other explosives in the compound. "So, when the examination started on Friday, December 3, we invited some policemen and vigilante members in case of any eventuality, because we anticipated that there could be disturbance, and the first set of policemen came, while we wait for other police officers. "One of the policemen on duty was moving around the school compound, what happened is what some of us don't know. But we saw that the students were chasing the policeman, so some of his colleagues came to rescue him, that was when the students started throwing stones and other weapons.

$418m Paris Club Refund: Court to Hear Governors’ Suit against Payment to Consultants December 13 Refuses to vacate restraining order Alex Enumah in Abuja Justice Inyang Ekwo of the Federal High Court, Abuja, yesterday adjourned till December 13, for hearing in a motion seeking to temporarily halt the federal government from deducting funds in their bank accounts in payment of Paris Club Refund to consultants. The adjournment was made after the court granted an exparte application by the governors to regularise their processes that were filled out of time. The application was moved by Plaintiffs’ lawyer, Mr. Jibrin Okutekpa. Justice Ekwo, then granted it as prayed and in addition ordered for substituted service on some of the defendants who have allegedly refused to accept court documents regarding the suit. Meanwhile the court held that its earlier order restraining the federal government from going ahead with its planned deduction from the states' account in respect of the said payment still subsists. The court made the clarification after attempts to make the court vacate the restraining order failed. Chief Woke Olanipekun who represented the 14th defendant had urged the court to vacate the November 5 order in line with the rules of the court. His position was supported by some defendants, including, Olusola Oke. They argued that by the

practice direction of the court, the order of injunction ought to last for 14 days and that it should be deemed as expired and no longer in existence. But Okutepa, argued to the contrary, stating that until the motion for interlocutory injunction was decided, the interim order shall be in force and binding on all parties. In a short ruling, Justice Ekwo, advised parties in the matter to thread softly adding that the matter would be deligently determined. He subsequently adjourned till December 13 to take all pending applications. Speaking shortly after the court session, lawyer to the 10th and 11th defendants, Mr. Onyeka Nwokolo, expressed displeasure over the way and manner the Paris club refund was being politicised and used to blackmail some of the defendants. He claimed that the states’ legitimately and on their own volition issued power of attorney to some of the defendants to pursue the Paris Club refund on their behalf, with a condition that 10 percent of the recovered money would be paid insisting that the powered of attorney is binding on the parties. Nwokolo urged the Plaintiffs to be honorable in implementing the contractual terms rather than foot dragging. The senior lawyer revealed that a subsisting judgment of a court of competent jurisdiction

has ordered the payment of the money to the contractors after the Economic and Financial Crimes Commission (EFCC) had investigated and confirmed the authenticity of the contract. The governors of the 36 states had rushed to court following

President Muhammadu Buhari's approval of the payment of the controversial $418 million to six creditors as judgment debts in their favour. The beneficiaries included: Ned Nwoko – $142,028,941; Ted Iseghoghi Edwards -$159

million; Riok Nigeria Limited, Orji Nwafor Orizu, and Olaitan Bello – $142,028,941.95 and Panic Alert System Limited and George Uboh – $47,831,920. Based on Buhari’s approval, the Federal Ministry of Finance was also said to have directed

the Debt Management Office (DMO) to commence issuance of promissory notes to the creditors. The governors accused the president of approving the payment without considering their call for a forensic audit into the claims of the creditors.

SEC: Identity Management Will Resolve Unclaimed Dividends, Other Issues Udora Orizu in Abuja

The Securities and Exchange Commission (SEC) has disclosed that it was engaging relevant stakeholders in a bid to resolve issues of identity management which would assist in solving the rising unclaimed dividends in the capital market as well as other issues. The Director-General of the SEC, Lamido Yuguda, stated this during the presentation of the 2022 budget of the Commission before the House of Representatives Committee on Capital Markets and Institutions in Abuja, yesterday. He explained that part of the problems of unclaimed dividends had to do with identity management, saying the Commission was engaging the registrars and increasing investors’ education to stem the trend. According to Yuguda, the Commission has set up an identity management committee

to harmonise various databases of investors and facilitate data accuracy in the market. He said the committee was made up of SEC, the registrars, the stockbrokers, the issuing houses, the Central Securities Clearing System and the Nigerian Exchange Limited (NGX) in addition to the e-dividend management committee. Yuguda said the committee’s assignment would address the challenges of identity management and help tackle some of the issues of unclaimed dividends, direct cash settlement and multiple subscriptions. He said: "We have engaged with the industry to see where the issues are. We have understood the problem better and we are working in collaboration with them to ensure that by the end of the first half of 2022 we will be able to report back to this committee some of the milestones achieved in solving some of these issues and we believe it will have a massive

impact. “We need to transform our IT infrastructure as we superintendent over a market that is vast and technology driven. The Steering committee has started work and we are already looking at the proposals. “SEC has been collaborating with the Standards Organisation of Nigeria to develop standards for commodities and the Commission has already held two workshops in Lagos and Kano, expressing the hope that it will make the nation’s agricultural commodities acceptable the world over as well as create wealth for the country." The DG also disclosed that the Commission recently approved the first electronic offer in the capital market for MTN. On funding, the SEC boss stated that the Commission does not rely on the federal government for funding as it is self-funded, adding that the downturn in the capital market due to the ongoing pandemic has adversely affected

the revenue of the Commission. “The budget of 2021 has been a huge departure from the past as we have worked on new sources of income and reduced our expenditures. With these efforts, we know that we will have a Commission that everyone will be proud of,” he added In his remarks, Chairman of the Committee, Hon. Babangida Ibrahim commended the Commission on its efforts so far and assured that the committee would continue to provide support where necessary to ensure that the nation has a vibrant capital market. “It is our responsibility to oversight the SEC and that is why we invited them here today to brief us on the performance of their 2021 budget, including the success and challenges they have faced in the year under review. “We will continue to engage with the Commission to attain the progress we desire for our capital market”, the lawmaker said

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NEWS

ENCOURAGING DIGITAL ENTREPRENEURSHIP... L-R: Executive Director, Regulatory and Corporate Affairs, 9mobile, Abdulrahman Ado; President, Digital Bridge Institute, Prof. Muhammad Ajiya; Chairman, Board of Directors, 9mobile, His Highness, Alhaji Nasir Ado Bayero, Emir of Bichi; Head of Admin, Digital Bridge Institute, Mallam Tajudeen, during the Nigerian Communications Commission's advanced digital training for the first set of 9mobile-Bichi Emirate digital entrepreneurship training graduates and presentation of laptop and other ICT tools to the beneficiaries in Kano

S&PForeseesNigeria’sPrivateSector Credit to GDP to Hit 18% by 2023 Obinna Chima One of the global rating agencies, Standard and Poor’s (S&P) has predicted that private sector credit in Nigeria would range between 15 and 18 per cent of the country’s Gross Domestic Product (GDP) before 2023. Private sector credit to GDP in Nigeria stood at 13 per cent as of the third quarter of 2020. Also, the rating agency estimated that banking sector loan growth would average around 20 per cent through 2023, while the sector's non-performing loan (NPL) ratio was expected to increase to seven per cent in 2021, compared with a reported 5.7 per cent in June 2021, as regulatory forbearance measures have ended for most loans. S&P, in its 17-page, ‘Banking Industry Country Risk Assessment: Nigeria,” obtained yesterday, noted that Nigeria's private sector leverage was low in absolute terms, adding that compared with peers, loan growth would reflect the renewed impetus stemming from banks' digital transformation and greater focus on retail lending as well as weakening naira. Furthermore, it stated that household and corporate leverage metrics were among the lowest

in Nigeria's peers group, stating that banks are largely focused on serving large and established corporates while small and midsize enterprises lending accounted for less than one per cent of total loans in 2020. It noted low wealth levels per capita, lack of strong credit data, and a large informal sector contribute to the low financial intermediation in the country. However, the report stated that the launch of Nigeria’s digital currency, the e-Naira by the Central Bank of Nigeria (CBN) in October 2021, may in time help channel more of the informal sector to the official economy, and integrate parts of the unbanked population into the financial system. “We forecast real loan growth to average nine per annum over the next 12-24 months, reflecting a moderate economic recovery and higher oil prices. The growth is much higher in nominal terms because of the potential naira depreciation,” it added. In addition, it stated that banks have continued to focus on loan recoveries despite the weak operating environment and close monitoring of their restructured loans. “We expect economic setbacks to persist, despite higher oil prices, which we now assume at $75/

bbl (barrel) for the remainder of 2021 for Brent, $65/bbl in 2022, and $55/bbl in 2023,” it added. It anticipated that Nigeria’s GDP growth would average a moderate 2.3 per cent a year through to 2024 after a contraction of 1.8 per cent in 2020. In 2020, Nigeria's economy was hit hard by two shocks - the coronavirus pandemic and the collapse of the oil price.

Owing to this, it pointed out that the banking sector was exposed to short credit cycles and high credit risks because of the country’s reliance on oil and its sensitivity to currency depreciation and high inflation. “This leaves banks vulnerable to asset prices shocks and asset quality problems, with material exposure to the oil and gas sector, averaging almost 30 per cent.

Emmanuel Addeh in Abuja President Muhammadu Buhari yesterday formally sacked the management of the Abuja Electricity Distribution Company (AEDC), following a prolonged internal power tussle among the owners of the company which affected the welfare of the staff of the distribution company. A statement by Ofem Uket, a Media Aide to the Minister of State, Power, Mr. Goddy Jedy-Agba, announced that a new interim governing board had been appointed to oversee the day-to-day operations of the

electricity distribution company. Although the decision had been expected long before now, the dissolution of the board was further accelerated by Monday’s industrial action embarked upon by the aggrieved staff of the company over the non-payment of arrears of pensions, allowances, salaries and promotion. The statement indicated that the sack of the management team was conveyed by the presidency to the federal ministry of power, stressing that the new development takes immediate effect. In addition, it stated that the Minister of Power, Aliyu

Funds used to finance annual budget The Presidential Advisory Committee Against Corruption (PACAC) yesterday put the total amount of stolen assets recovered by the President Muhammadu Buhari’s administration since 2015 at over N1trn. Briefing journalists in Lagos yesterday, the Chairman of PACAC, Prof. Itse Sagay, who reeled out the achievements of the committee said the federal government had been deploying some part of the recovered funds towards financing the annual budget, especially its social intervention scheme. Sagay, who said the fight against corruption in the country had come a long way, describing it as both sweet and sour, stressed that a lot of work still needed to be done to

rid Nigeria of corruption. He also said PACAC has continued to carry out capacity building initiatives for the various anti-corruption agencies as well as Ministries, Departments and Agencies (MDAs). “This has resulted in these stakeholders having an improved understanding of their individual roles in the criminal justice system, both in its substantive and procedural aspects. The impact of this effort is reflected in increased number of cases filed and concluded and the improvement in the rate of conviction of looters. “Total recoveries are hovering around the N1 trillion mark, and even more remarkably these recoveries have been recycled into the budget to uplift the oppressed and most vulnerable

measures for most of the loans. “Overall, earnings growth is likely to slow down because of higher impairments in 2021-2022 and the AMCON levy (to fund bank clean-ups in 2010),” it added. The CBN created AMCON in 2010 to help clean up asset quality in the banking system over the 10 years following the 2009 financial crisis, but it remained for a longer period.

Buhari Sacks Abuja Disco Board Over Prolonged Internal Wrangling Sets up interim management to oversee power company

President Has Recovered Over N1trn Stolen Funds, Says PACAC Obinna Chima

Naira depreciation may lead to double-digit private-sector credit growth over the next two years. “Credit losses rose to around one per cent in 2020 and will likely double in 2021, before gradually declining to around 1.6 per cent by 2023. Meanwhile, we expect nonperforming loans will likely increase to seven per cent of total loans, reflecting the end of the regulatory forbearance

victims of corruption, namely, the young unemployed youths, young school children, who can now enjoy one free nutritional meal a day at school, extremely poor families who now receive the conditional cash transfer of N5,000 a month and women, youths, farmers, etc, who now receive interest free loans to capitalise their small scale businesses. “So the recovered loot is pumped back into the lives of the most vulnerable Nigerians, in order to transform them into proud productive Nigerians, who will end up as employers themselves, contributing to the development of Nigeria,” he added. According further, he said another contribution of PACAC in the war against corruption was the Committee’s concentration on illicit financial flows (IFF).

He claimed that very little was known about IFF in the country before PACAC brought it into centre stage nationally and internationally. “Now, we know that this silent, quietly stalking source of financial bleeding, could even be worse in terms of volume of loss, than the typical looting we are all used to. Over invoicing of external expenses, under reporting of resources obtained from the developing countries, tax evasion, under declaration of profits, out sourcing of what could be done within the victim country, etc, all constitute IFFs,” he added. The PACAC chairman disclosed that the massive losses underdeveloped countries like Nigeria were experiencing as a result of IFFs were recently documented and published by the Global Financial Integrity.

Abubakar and Agba, had earlier intervened through dialogue with the ministry of labour, Bureau of Public Enterprises, and the Nigerian union of Electricity Employees, NUEE, to resolve and call off the 14 hours strike action. AEDC’s franchise areas include the Federal Capital Territory (FCT), Kogi, Nasarawa, Kaduna and parts of Edo states. The industrial action by the workers on Monday, had left the affected areas in total blackout between 7 am in the morning to about 8 pm as a result of the strike action. “The presidential directive as conveyed has also directed the BPE to set up a new management team for the AEDC,” the statement revealed. Furthermore, the statement noted that a Memorandum of Understanding (MoU), had earlier been jointly signed by Jedy-Agba; the Chairman, Nigerian Electricity Regulatory Commission (NERC), Sanusi Garba; the Director General, BPE, Alex Okoh; as well as Joe Ajaero on behalf of the union, for the suspension of the strike. “And they have been given 21 days within which the outstanding emoluments and entitlements of staff will be paid,” the statement noted. It further noted that government, “has described the non-performance and incompetence of the AEDC as a national embarrassment,” saying the suspension of the management team will subsist until further notice. “At the end of the expansive consultation between the leadership of NUEE and relevant government institutions in the power sector

over the industrial action government intervened with the firm arrangement to ensure the payment of the outstanding entitlements of AEDC staff within 21 days counting from the date of the signing of the MoU. The tussle relating to the board of KANN Utility Company Limited, owners of AEDC had raged for years as the shareholders had continued to differ on decisions and appointments to the board and the management. The matter got to a head last year when some investors in the AEDC purportedly announced changes to the governing board of Disco. At the time CEC Africa Limited (CECA), one of the parties in the matter, had said the board of KANN Utility Company Limited had announced the withdrawal of their nominations to the board of AEDC and their replacement with new nominees. It had said that the board of KANN proposed the following new directors: Mr. Joe (Joseph) Makoju , Mallam Ibrahim Aliyu, Dr. Olubunmi Peters, Dr. George Nwangwu, and Mr. Faruk Aliyu. “The board of AEDC has since resolved to accept both the withdrawals and the new appointments,” it said. But Chairman of the dissolved board of AEDC and KANN, Shehu Malami in a reaction, said the alleged change in the management of the Disco was false. ”For the records the board of AEDC is the only authorised body that can appoint or remove its directors, and has made no such decision in recent time,” he said at the time.

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NEWS

GROOMING THE NEXT GENERATION OF LEADERS... L-R: 3rd Prize Winner, 2021 UBA National Essay Competition, Hajarat Abdulwahab; Group Managing Director/ Chief Executive Officer, United Bank for Africa, (UBA) Plc, Kennedy Uzoka; 1ST Prize Winner, Eziaku Esther Enwereuzo; Managing Director/ Chief Executive Officer, UBA Foundation, Bola Atta and the 2nd Prize Winner, Nduka Chukwubikem, at the grand finale of the UBA Foundation, National Essay Competition for Secondary Schools, held at UBA House, Marina, Lagos ... yesterday

COVID-19: Sanwo-Olu Urges Lagos to Prepare for Fourth Wave, Threatens to Prosecute Fake Test Holders Positive cases rise from 0.1% to 6% Rising procurement of fake test results worry governor All public events attendees to present vaccination cards Emmanuel Addeh in Abuja Governor of Lagos State, Mr Babajide Sanwo-Olu, yesterday alerted the people of the state to a fourth wave of the coronavirus pandemic, noting that in the last three weeks, cases had risen from 0.1 per cent to 6 per cent. In a statement he personally signed, the governor who commiserated with all Lagos residents who lost their loved ones during the third wave of the pandemic, stated that aside the state, most of the continents of the world - including Africa - are now experiencing another round of the pandemic. Based on the state’s analysis, Sanwo-Olu said the fourth wave was brought by the non-adherence

to the laid down protocols to mitigate the pandemic and pleaded with residents to get vaccinated and follow the guidelines regarding the use of facemasks, public gatherings and travelling. As of the 5th of December 2021, the governor stated that Lagos had recorded a total of 78,564 confirmed cases of COVID-19, explaining that of this number, 71,977 had recovered while 612 were being managed actively in the communities. In addition, he said that over the course of managing the pandemic, about 6,066 patients had been admitted into the various COVID-19 care centres in the state with 686 registered fatalities. “Unfortunately, Lagos State is not

left out as we are also experiencing the beginning of a fourth wave with current positivity rate at 6 per cent. This is against the positivity rates of 0.1 per cent as at the middle of November 2021,” he noted On what the government is doing to mitigate the new wave, he said that the state had ramped up the percentage of vaccinated residents from 1.6 per cent to 30 per cent within one year. Furthermore, Sanwo-Olu said he had specifically mandated the state ministry of health to administer 8 million doses to 4 million residents by the 25th of December 2021 under the “Count Me In campaign” and deployed a robust strategy that involves the private sector to improve access

Nembe Oil Spill: Niger Delta Youths Caution Mischief Makers Udora Orizu in Abuja

The Niger Delta Youth Council (NDYC) yesterday condemned what it described as a deliberate falsehood and mischief promoted by some leaders in the region, following the Nembe oil spill in Bayelsa State. Briefing journalists in Abuja, the group's National Coordinator, Henshaw Bassey called on the Bayelsa state Governor, Duoye Diri to withdraw his comment on the spill, where he had opined that the incident was worse than the Gulf of Mexico spill. The group while noting that comparing the spill to Hiroshima, was a mischief taken to a dangerous level, argued that Diri’s utterances called for closer examination by security agencies. It alleged that the baseless attacks was driven primarily by the undisguised desire to target and destroy individual reputations; to malign the integrity of cooperate concerns; to denigrate the federal government and its agencies including President Buhari

and the Minister of State, Chief Timi Sylva. According to the group, the presidency and relevant agencies had have responded admirably in providing for guidance and support towards the efforts being deployed in containing the spill as well as providing stability. According to him, "What is playing out appears to be a poorly choreographed but quite viciously motivated intrigue at work aimed at ignoring the ongoing efforts to contain the leak and mitigate the impact on communities around the location of the well but, more significantly, to undermine and damage and damage the presidency. “There are some shuddering examples of this wicked intrigue. First was unnecessary and malicious exaggeration of the spill by a mindless comparison with the effects of the Hiroshima Atomic Bomb catastrophe. “Comparing the Nembe oil spill to Hiroshima, is taking mischief to a dangerous level. Doing so only confirms the stark ignorance

demonstrated by the comparison. "It seems evident that those forces want to capitalize on this spill by exaggerating its impact beyond the scope of what is on the ground. Ultimately, they want to use it to undermine the federal administration and allege both lack of capacity and incompetence by the Buhari government in a major area of the country’s economy. “As such, we make the unambiguous demand that he withdraws his wild and inciting comments and apologizes to Bayelsans whom he abandoned while Nembe burned. Competent leaders cut short private visits to respond to emergencies in their constituencies. “It is also based on the foregoing that we demand that Governor Douye Diri resigns immediately from the office of Governor of Bayelsa State. “Instead of acknowledging the fact that he lost an election before the Supreme Court unilaterally put him on the seat of Governor to work for the people, he is still busy playing bad politics with serious national issues."

to vaccines. In addition, the governor said the state was launching 30 private priority sites for those who want to be vaccinated within a private health facility, clarifying that while vaccination at public centres remains free, there is an administration fee (N4,500 per dose and N6,000 for two doses) at private centres. While advising the people of the state to register for the vaccination to visit the registration portal at https://nphcda.vaccination.gov. ng/, he stressed that over the next couple of days, the state government will release policies to facilitate the uptake of vaccines to achieve desirable herd immunity. He insisted that all social events must be duly registered to obtain “Event Safety Clearance” state government, maintaining that where possible events should be held outdoors. Other guidelines during the festive season, according to him, are that occupancy limit at any event must not exceed 60 per cent of maximum design capacity of the event centre while every attendee of a social gathering must present their vaccination cards or digital bar code page showing at least

first dose. “In unvaccinated people, a negative PCR within 72 hours will be an exemption. Everybody, irrespective of vaccination status, must be subject to Rapid Diagnostic test (Antigen) to be conducted at the event venue within 24 hours prior to the event at designated laboratories,” the governor said. The governor noted that despite the huge financial obligation and constraints associated with managing the pandemic, his administration will continue to do everything within its power to ensure the preservation of the lives and livelihood of residents of Lagos state. While listing the protocols laid out by the presidential steering committee, the governor said that while they may be stringent, the tests are mandatory to assist the state monitor the inflow of positive passengers. “Based on this, we will commence the prosecution of those that refuse to submit themselves for these mandatory tests by blacklisting their passports for 1 year. “This would be carried out in partnership with the presidential steering committee. In addition, all

foreigners that flout the rules would be subject to possible deportation. “Therefore, I implore all intending inbound passengers to perform their required tests at any of the private laboratories within the Lagos state private laboratory consortium as and at when due,” he added. He also mentioned that the state had received very disturbing information about intending outbound passengers procuring fake Covid test results and/ or vaccination cards for travel purposes. “This is a very worrisome trend for us to note and we are currently working with the NCDC, DSS and the police to investigate and bring to book the criminal gangs involved in this reprehensible activity. “We implore everyone to desist from patronising these gangs, as anyone found with a fake Covid test result and/or vaccination card will also be liable to prosecution and very stiff penalties. “Our state mobile courts will be used to prosecute all those involved in flouting the regulations; as well as those engaged in the fraudulent production of fake COVID test results and vaccination certificates,” he warned.

Buhari Transmits 2021 Finance Bill to N’Assembly Deji Elumoye in Abuja The Senate yesterday received the Finance Bill 2021, transmitted by President Muhammadu Buhari to the National Assembly for consideration and passage. The request by the President seeking the passage of the bill into law was contained in a letter dated December 7, 2021, and read at plenary by President of the Senate, Dr Ahmad Lawan. Buhari in the letter explained that the request for the passage of the bill was made pursuant to the provisions of Sections 58 and 59 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).

He explained that the Finance Bill, 2021, seeks to support the implementation of the 2022 Federal Budget of Economic Growth and Sustainability by proposing key reforms to specific taxation, customs, excise, fiscal and other relevant laws. The president added that the bill provides for enhanced Domestic Revenue Mobilisation efforts to increase tax and non-tax revenues; and ensure Tax Administration and Legislative Drafting Reforms, particularly to support the ongoing automation reforms by the Federal Inland Revenue Service. Buhari stated that upon passage, the bill would accelerate International Tax Reforms to enhance

the taxation of non-resident individuals and companies that nevertheless derive profit from Nigeria; and implement Financial Sector Reforms to support ongoing capital market reforms relating to Securities Lending Transactions, Real Estate Investment Trusts, Init Trust Schemes and the recapitalisation of Insurance Companies. He noted that the Finance bill would also prioritize Critical Public Financial Management Reforms regarding the FIRS’ vital role in coordinating tax administration as well as the enforcement of key fiscal rules under the 1999 Constitution, Finance (Control and Management) Act and other relevant laws.

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WEDNESDAY, ΀˜ ͺ͸ͺ͹ ˾ T H I S D AY

TWELVE ARCHBISHOP OF CANTERBURY CONDEMNS NIGERIA’S RED LISTING, CALLS IT TRAVEL APARTHEID a “travel apartheid” and calls for it to be scrapped. In series of tweets on his Twitter handle,@JustinWelby, the Archbishop of Canterbury urged the UK government to abolish what he described as the “morally wrong and self-defeating” red list. The United Nations Secretary General had a few days ago described the action of the UK government as travel Apartheid, targeted at poor nations. Nigeria’s Senate yesterday, also insisted that the travel ban was discriminatory and an attack on diplomatic relations between the two nations and called for the UK to remove it. The Red chamber at plenary accordingly, called on the British authorities to consider removing Nigeria from the red list. However, the Nigeria Centre for Disease Control (NCDC) yesterday confirmed three more omicron cases in Nigeria. The centre also said that Nigeria has been notified by the UK government of seven cases of travellers from Nigeria with the infection. This was just as the Nigerian Civil Aviation Authority (NCAA) has threatened to ban from Nigeria, any airline operating international services that do not abide by the country’s COVID-19 protocols for passengers as issued by the Presidential Steering Committee (PSC). Nigeria became the 11th country to go on the UK’s red list for international travelon Monday. All nations currently on that list are African. The only people allowed to enter the UK from these countries are UK or Irish nationals, or UK residents. They would have to pay for and self-isolate in a pre-booked government-approved hotel for a total of 10 days. But in a message to his 165,000 Twitter followers, the Archbishop wrote: “With #Omicron set to become the dominant variant in the UK, I appeal to the British government to remove Nigeria and South Africa from the red list – together with all other countries currently on it. “We must find fair and effective approaches for those who are vaccinated and tested to enter the UK. I agree with the Nigerian High Commissioner to the UK – we cannot have ‘travel apartheid’. “It is also morally wrong – and self-defeating – effectively to punish other nations for being transparent when they discover new Covid variants, as @ArchbishopThabo of Cape Town has said.” The World Health Organisation

(WHO) had said that blanket travel bans would not stop the spread of the variant, and could potentially discourage countries from reporting and sharing important data on coronavirus. Welby had previously criticised the addition of Nigeria, Botswana and South Africa to the red list, saying they were “countries already suffering that will suffer more.”

Senate Wants Nigeria Removed from Red List

Furthermore, the Senate advised the UK government to be sensitive to the diplomatic relationship between both countries when taking decision that affect Nigerian citizens. It urged the federal government to engage British authorities to reverse Nigeria’s inclusion on the red list. The upper chamber also charged the administration to remain firm in the enforcement of necessary protocols in the containment of every COVID-19 variant in Nigeria. It further advised developing countries which it listed to include Britain, Canada, United States of America, the European Union, among others, to take urgent and bold steps to ensure vaccine equity in the interest of the entire human race. The resolutions were reached by the Senate sequel to the consideration of a motion on the, “Need for Government of the United Kingdom to remove Nigeria from COVID-19 Red List," sponsored by the former Deputy Senate President, Senator Ike Ekweremadu (Enugu West). Coming under order 42 and 52 of the Senate Rules, Ekweremadu noted with satisfaction the efforts of the Government of Nigeria in the containment and treatment of COVID-19 cases. According to him: “Nigeria is among the countries with the lowest cases of COVID-19.” “The decision by the British Government to include Nigeria in their COVID-19 list, with its concomitant implications, will affect many citizens of Nigeria, who had planned to spend their Christmas and New Year holiday with their families. “Also worried that Nigerians with genuine needs to visit the U.K within this period will be denied visa and those with visa will not be allowed to enter the U.K.” The ranking Senator noted that Nigerians have consistently complied with all the COVID-19 protocols required by the World Health Organisation (WHO) and the UK Government for travelers prior to the ban.

He emphasised that, “targeting African countries, especially in the COVID-19 travel ban, amounts to profiling and discrimination as well as an attack on our cordial diplomatic relationship with the UK.” Ekweremadu drew the attention of the lawmakers to global concerns over vaccines hoarding and inequity and the resulting consequences on low-income nations in the fight against COVID-19. In his contribution, Senate President, Dr. Ahmad Lawan, said the decision to include Nigeria on the UK COVID-19 red list posed a strain on the diplomatic relationship between both countries, just as he bemoaned the poor treatment of Nigeria by the UK government. He, therefore, called on the British Parliament to intervene with a view to having Nigeria removed from the country’s COVID-19 red list. Lawan added: “Let there be justification for it. We are not saying that they cannot put any country on the red list, including Nigeria, but there must be reasons for doing that. “And of course, Nigeria has done so well to the admiration of many countries in the area of containment of COVID-19. Therefore, we don’t see any reason why Nigeria will be on that so called red list. “I believe that Nigerians deserve better treatment from the British government. I’m using this opportunity to ask the British Parliament to mount pressure on their government to remove Nigeria from the so called red list.” Meanwhile, members of the House of Representatives were sharply divided yesterday, following a debate on the decision of the

UK to place temporary visa ban on Nigerians after the discovery of omicron variant. While some House of Representatives members were of the views that the decision of the UK government against Nigerians was harsh and racist, others believed it was a wake-up call on the government and those in authority to fix the country, especially the health and education sector. While the Deputy Speaker, Hon. Idris Wase who presided over the plenary allocated more time for the debate on temporary visa ban to run for almost an hour, the debate on the death of a pupil at Dowen College, Lagos didn't enjoy the same preference. Moving the motion, the Minority Leader, Hon. Ndudi Elumelu said the decision of the UK government came only a few days after Canada extended its travel ban to travelers who recently visited Nigeria. He said though the ban was for Nigerians bound for the UK, it does not exempt over 8,000 Nigerian travelers that had bought air tickets to visit Nigeria during the yuletide period, saying the restriction would affect their re-entry into the UK after holidays. Elumelu noted that rather than seek to work with its commonwealth ally on ways to combat and curtail the spread of this new variant, the UK government decided to outright ban Nigerian travelers from entering their country. According to him, this was in sharp contrast to that of the United States government whose response was for travelers to produce evidence of negative test result at the point of departure as well as a day two test result after arrival in their country, a response that

Founded by Funke Opeke in 2010, the company has enabled connectivity for the business community of Nigeria and now has digital infrastructure assets including three operational data centers, with an additional facility under construction expected to open in Q1 2022. “Upon closing, these facilities will add more than 64,000 gross square feet of space to Platform Equinix, with 570,000 square feet of land for future expansions,” it added. MainOne owns and operates a subsea network from Nigeria to Portugal, as well as 1,200 kilometers of reliable terrestrial fiber network across southern Nigeria. “These are all improving connectivity to and from Europe, West African countries and the major business communities in Nigeria. When completed, this acquisition will extend Platform Equinix into West Africa, giving organisations based inside and outside of Africa access to one of the world’s fastest growing markets,” it stated. Speaking about the planned acquisition, President and CEO, Equinix, Charles Meyers, said: “The acquisition of MainOne will represent a critical point of entry for Platform Equinix into the expansive and rapidly growing African market. “MainOne’s leading interconnection position and experienced

castigating another sovereign country for taking such a decision as it has the right to do so. On his part, Hon. Nicholas Ossai said the issue canvassed by the minority leader was germane, adding that there was need to meet with the British government and resolve the issue diplomatically. In his submission, Hon. Nnonli Nnaji said inasmuch as he aligned himself to the motion, the message from the action by the UK government was for Nigerians to fix their country. On his part, Hon. Onofiok Luke said there was a need for introspection, stressing that there was need to join hands with the leadership to make sure that the right things are done. He said rather than blaming other countries, there was a need to fix the country and make things work.

NCDC Conﬁrms Three New Cases of Omicron Variant

However, the Nigeria Centre for Disease Control (NCDC) has confirmed three more cases of the COVID-19 with the B.1.1.529 SARS-CoV-2 lineage, which is the omicron variant, in Nigeria. A statement signed by the Director General of NCDC, Dr. Ifedayo Adetifa, noted that given reports of increasing numbers of omicron cases in the UK, the NCDC was prioritising the sequencing of COVID-19 positive samples in travellers with history of travel to the UK. The three new cases bring the total number of omicron variant so far detected in Nigeria to six. NCDC had previously anContinued on page 42

BUHARI FLAGS OFF $300M AFREXIMBANK'S MEDICAL CENTRE, LAMENTS BRAIN DRAIN cancer, noted that unfortunately, West African countries lacked the wherewithal to deal with such aliments. According to Buhari, such ailments are now the highest contributors to non-communicable disease mortalities, representing more than 81 per cent of all NCD deaths in West Africa. “Cardiovascular ailments, cancers and haematological disorders have increasingly become matters of concern to public healthcare. The World Health Organisation (WHO) projects that deaths on the African continent attributable to cancer and diabetes are expected to rise over the next 10 years. “The rising NCD burden coupled with inadequate medical infrastructure on the continent threatens the future of our people.

Right now, many hospitals in the West African region are underfunded, underequipped, understaffed and relatively inaccessible to most patients especially from rural areas,” he stated. The president noted that inasmuch as the situation represents an opportunity for investment in African healthcare, it had not necessarily translated into increased investment activity in the most pressing areas that require intervention. He explained that the problem was further exacerbated by the significant brain drain experienced by the continent, adding that the exodus of doctors and nurses to other continents had resulted in a significant gap between the required treatments for noncommunicable and the available

EQUINIX TO ACQUIRE MAINONE IN $320M DEAL its expansion into Africa through a deal to acquire MainOne, a West African data centre and connectivity solutions provider. According to a statement, the transaction has an enterprise value of $320 million. MainOne currently has presence in Nigeria, Ghana and Côte d’Ivoire, with establishment of its tier 111 Data Centre in the aforementioned countries and is also building a second data centre in Lekki, Lagos, Nigeria. The acquisition was expected to close in the first quarter of 2022, subject to the satisfaction of customary closing conditions including the requisite regulatory approvals. The transaction was expected to be Adjusted Funds From Operations (AFFO) accretive upon close, excluding integration costs, marking the first step in Equinix’s long-term strategy to become a leading African carrier neutral digital infrastructure company. With more than 200 million people, Nigeria is Africa’s largest economy and, along with Ghana, has become an established data center hub. This makes the acquisition a pivotal entry point for Equinix into the continent. Equinix believes MainOne to be one of the most exciting technology businesses to emerge from Africa.

have received wide commendation across board, The lawmaker further expressed worry that the UK government chose to announce the ban without discussing the data in its possession with the Nigerian government, but instead gave an hour notice to the Nigeria authorities before its inclusion on the red list, contrary to known international convention. Elumelu said the Omicron variant has now been found in over 40 countries around the world including many from the European Union, but only Nigeria and a few African countries were banned by the UK government. The minority leader stressed that if the Nigerian government does not urgently engage the authorities of UK, the decision could have a significant impact on businesses and travelers intending to carry out lawful transactions in the UK as opportunities and investments already made would be lost, hence the need for a quick interface. Elumelu noted that children who school abroad and had thought of returning home during this festive period to rejoin with their families and with fears that when they later go back would be subjected to 10 days mandatory isolation centre and be made to pay £2,700 for such hotel bookings may be totally discouraged from coming home and thereby deny such families the opportunity of their children rejoining them for this annual family union. Contributing, Hon. Aminu Suleiman said there was a need for the country to do internal assessment. He said Nigeria has already admitted to having an omicron variant, saying there was no need

management team represent critical assets in our aspirations to be the leading neutral provider of digital infrastructure in Africa. “Growth of data consumption in Africa is amongst the fastest in the world, and our customers are looking for a trusted partner to pursue the opportunities presented by broad mobile adoption and greater connectivity across the region. “MainOne’s infrastructure, customer relationships, partner ecosystem and operating capability will extend the reach of Platform Equinix and bolster opportunities for customers in Africa and throughout the world.” On her part, Opeke said: “Equinix will accelerate our long-term vision to grow digital infrastructure investments across Africa. I thank our founding shareholders led by Mr. Fola Adeola, MainStreet Technologies, AFC, PAIDF, FBN, Polaris and AfDB for investing in the MainOne vision to bridge the digital divide in Africa. “With similar values and culture to what we have jointly built in twelve years, Equinix is the preferred partner for our growth journey. The MainOne team is excited about the partnership created through the acquisition, and we look forward to building our next chapter together.” The President, EMEA, Equinix, Eugene Bergen also said the

expansion in Africa, “has long been a strategic priority for us. With MainOne, we have found a company that not only has highly complementary data center and connectivity assets, but can further accelerate the expansion of our business model and growth objectives.” “CEO Funke Opeke and her team have built a powerful and dynamic infrastructure that will enable international customers’ access to the continent and African organisations access to the global Equinix platform. “Customers can take full advantage of Equinix’s leading global interconnection services to connect with customers and partners, participate in rich digital ecosystems and expand their business across Africa and around the world,” he added. Under the terms of the transaction, the management team, including Opeke, would continue to serve in their respective roles. Opeke holds a master’s in engineering from Columbia University and was named one of the World’s Top 50 Women in Tech by Forbes in 2018 for her efforts in sparking internet adoption. She was also recently named one of the Top 10 Women to Watch in the Data Center Industry by Data Centre Magazine.

treatments and care. “The above challenges combine to create a regional health market with poor access to critical services and low perception of quality of care available,’’ the president noted. While lauding the bank, Buhari said the 500-bed specialist facility will provide services in the areas of oncology, cardiology, and haematology and will seek to address the significant shortage of clinical care options in the West African sub-region. “The AMCE demonstrates that Afreximbank is not only Africa’s trade finance partner, but its a development partner,” he said, adding that a stronger partnership with the private sector will help in improving health facilities and access in the country. Aside Afreximbank , other partners in the project include Kings College Hospital, London, University of Winsconsin Teaching Hospital, USA and Christies Hospital, Manchester. According to the president, in addition to providing comprehensive care across the three critical care areas, the AMCE will offer educational services to develop talent and establish itself as a world-class research centre, in partnership with global institutions. “The success of the AMCE will pave the way for future investments and partnerships in the sector while raising the local standard of healthcare and providing a blueprint for quality of services required to address Nigeria’s and Africa’s healthcare and economic challenges,” he said. Oramah, in his remarks said the ceremony was one step towards self-reliance for Africa’s health care delivery as the project will pool world-class technology and global talents, particularly the African diaspora. Oramah noted that the 500bed and estimated $300 million AMCE was conceived to promote intra-African medical tourism and reduce the outflow of over $7 billion annually in outbound medical tourism. He added that the vision for the health centre was borne

out of a personal experience he encountered following his recovery from a potentially life-threatening blood disorder. Aside its services in the areas of diagnostics, oncology, haematology, cardiology and general healthcare services, he stated that another significant focus of the AMCE is to perform innovative and groundbreaking research, development and educational programmes in partnership with leading global institutions. In addition, the bank said that the facility has the potential to establish the largest and most diverse biobank in West Africa enabling it to attract global and Pan-African partnerships making it a global point of reference and source of medical tourism in the region. “It will also offer residency, training and placement programmes such that physicians and students at local teaching hospitals will have opportunities to train under the expertise of its specialists and with the benefit of its AMCE’s patient volumes. “The partnership with King’s College Hospital will increase locally available clinical capabilities, provide education and training, relying on KCH’s two centuries’ of experience in providing specialist healthcare services, medicine, and medical research. “Afreximbank will also set its sights on implementing a continent-wide plan of developing similar AMCEs with the aim of improving the quality of healthcare and health related research to cater for the African population,” the African bank stated. The Abuja AMCE is also expected to enhance service exports providing healthcare to over 50,000 people annually, promote employment and creating over 3,000 jobs during its construction and operational phases and conserve foreign exchange. In his remarks, the Minister of Health, Dr. Osagie Ehanire, said all hands are on deck, with the interministerial committee working to ensure that the project is actualised in a way that is beneficial to all parties.

WEDNESDAY DECEMBER 8, 2021 • T H I S D AY

T H I S D AY • WEDNESDAY, DECEMBER 8, 2021

COMMENT

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

AS HISTORY BECKONS NIGERIA…

Nigeria should call for a vote on sexual orientation at the United Nations, writes Sonnie Ekwowusi

revolutionary Resolution is about to be adopted by the United Nations General Assembly in New York City next week. The resolution is to establish for the first time in the history of the United Nations that “sexual orientation” and “gender identity”, that is, Lesbianism, Gay, Bi-sexualism, Trangenderism, Queer behaviour, Intersex, and others (LGBTQ1+) are UN consensus terms. Unless Nigeria, perceived and respected as a big African player in diplomatic circles and at the United Nations, calls for a vote on the resolution in order to strike down the offensive “sexual orientation and gender identity” the terms will become UN consensus terms. The human race at the moment is engaged in a race against time, a race to rescue humanity from complete ruin. It is not just the quality of life that is being threatened, but life itself. The saddest aspect is that the dreams of many are empty. So where do we go from here? As this turbulent 21st Century comes to an end, mankind is poised at a crossroads: in one direction lies the possibility of unprecedented prosperity for all, but in another direction lies self-annihilation in the face of conscious efforts, or, if you like, the diabolic efforts, to obliterate the natural and biological differences between a man and a woman in the name of so-called “sexual orientation and gender identity”. So winning the human race is the challenge facing men and women of our contemporary society. It is either we get it right and continue to live in this world or get it wrong and perish. This is the dilemma faced by modern man today. You may be aware that the aforesaid offensive UN Resolution was adopted by the Third Committee of the UN Economic and Social Council on November 18, 2021 under the euphemistic or dodgy title: “Strengthening the role of the United Nations in the promotion of democratization and enhancing periodic and genuine elections” (A/C.3/76/L.45/Rev.1). Sponsored by Joe Biden’s United States, this resolution was used by the U.S. to force or impose LGBTQ1+ on all delegations. Despite repeated requests by multiple UN delegations to remove the references to LGBT Q1+ and “women in all their diversity” from the text, the U.S. refused to remove the references knowing fully well that it would be politically difficult for any country to call for a vote on the resolution, since that would be susceptible to false claims that the country is against free and fair elections. You can see how the United States is craftily or deviously forcing LGBTQ1+ down the throats of unwilling nations under the pretext of promoting democratization process and “enhancing periodic and genuine elections”. What is LGBTQ1+ doing in election resolution? one may ask. This is why Nigeria must call for a vote on the resolution in order to remove the strange term. Although the Nigerian delegation had proposed two amendments on behalf of many other delegations to remove the LGBTQ1+ terms from the elections resolution as they are unacceptable concepts that violate Nigeria’s laws and represent an assault on women, marriage, and the Nigerian family, but, unfortunately, the votes on these amendments were both lost, and the controversial references to LGBTQ1+ still remain intact. One would have thought that subsequently, the Nigerian delegation should have called for a vote on the entire resolution. Indeed, many less powerful nations were relying on Nigeria to call for a vote on the resolution, yet Nigeria was silent during the adoption and only made a statement after it was adopted. It is feared that the U.S. is pressuring Nigeria not to call for a vote on the resolution. You will recall that the U.S. Secretary of State Antony J. Blinken was in Nigeria during the

UN RESOLUTIONS BIND UPON CONSENSUS. ONLY ONE VOTE IS CAPABLE OF DEFEATING A RESOLUTION

critical time when this election’s resolution was proposed for adoption at the UN, and it is believed that he came to Nigeria to put undue pressure on our Ministry of Foreign Affairs in order to stop Nigeria from calling for a vote on the resolution. This interference of the U.S. government in Nigeria’s affairs is an assault on Nigeria’s sovereignty and religious and cultural values. Nigeria is a sovereign nation. We have a right as a sovereign nation to decide for ourselves the ideologies we need to embrace for our own good. Nigeria should reject anything which compromises Nigeria’s territorial sovereignty. No foreign country has a right to dictate to us the way we should run our country. The attitude of the United States in imposing LGTBQI+ on African countries, Nigeria inclusive, is sadly reminiscent of the sentiments of superiority that led to centuries-old slavery and the emasculation of black people world over. It is a sentiment of white supremacy based on the idea that since the black man is not capable of rational, positive, value-driven thinking, the U.S. and other countries should think for him. This narrative is confirmed in the words of Nafiz Sadik, the former executive director of the United Nations Fund for Population activities (UNFPA) who once said, “If culture and tradition are invoked to block change, and we hear this all the time, then culture and tradition must give way.” But the pertinent question remains: whose culture and tradition? And most importantly, who gets to define and make a value judgment on such cultures and traditions. Is the U.S.? I don’t think so. Therefore Nigeria must reject the pressure from the United States and do the right thing by calling for a vote on the entire election resolution next week (even if there is only one vote against the resolution it will substantially weaken it). UN Resolutions bind upon consensus. Only one vote is capable of defeating a Resolution. Therefore the Nigerian delegation is respectfully urged to call for a vote on the Resolution at the United Nations General Assembly next week so that the aforesaid offensive terms: “women in all their diversity” and “sexual orientation” and “gender identity” (that is, LGBTQ1+ terms) do not achieve consensus at the UN. After all, Nigeria and some other African countries have outlawed LGBTQ1+ within their respective territorial sovereignties. Besides, the term “women in all their diversity” has never been adopted in a United Nations General Assembly Resolution. While the term “sexual orientation and gender identity” did appear previously in a United Nations Resolution in the context of extrajudicial killings in contrast to this elections resolution, that resolution was voted and therefore it cannot be considered consensual. While it is appreciated that Nigeria made a strong statement after the adoption of the resolution by the Third Committee on November 18, 2021 and disassociated herself from that reference to LGBTQ1+ terms, that singular action does stop the LGBTQ1+ from becoming UN consensus language. Happily it is not too late for Nigeria to remedy things. Come next week Nigeria must call for a vote on the entire resolution in order to prevent these LGBTQ1+ terms from being mainstreamed throughout UN policies and programs and used to pressure Nigeria again and again to capitulate to the LGBT agenda in subsequent UN Resolutions. We therefore call upon our government to stand up to the cultural imperialism of the West and specifically of the U.S., which is constantly trying to impose a harmful LGBT agenda on our people. Nigeria must do the right thing and call for a vote on the election’s resolution next week.

A COMPATRIOT MADE IN NIGERIA Jackson Olali pays tribute to Benedict Peters for upscaling local content in the nation’s oil and gas industry

very society has its models, pathfinders who brave the odds and dare the impossible, some even at young age. Benedict Peters is in this club of outliers. In the Nigerian milieu, he numbers among the role models for the youth. An exemplar of the true Nigerian spirit of derring-do. Peters does not flaunt long degrees from Cambridge or Harvard. He’s the archetypal homeboy. A product of the University of Benin, he launched into the oil and gas business, venturing into the technical and capital-demanding exploration field once the exclusive turf of expatriates. And he has made a success of it, building Aiteo Eastern E & P Company into becoming the biggest indigenous oil producer in Nigeria and proving the point that Nigerians can play big in the complex global oil and gas ecosystem. He turned 55 on Sunday, December 5. This piece, however, is not entirely about his birthday. It’s about his unassailable contribution to driving and upscaling local content in the nation’s oil and gas industry. Without a doubt, the billionaire oil and gas magnate has demonstrably deployed his wealth to foster development, engender socio-economic growth and improve the nation’s human development index. From philanthropy to community development and sports sponsorship, Peters’ Aiteo has endeared itself to the hearts of the Nigerian people. Since 2010 when the local content Act came to life, there have been efforts to stop or at least reduce capital flight suffered by Nigeria in crude oil explora-

tion. The statistics are worrisome. It is reported that Nigeria recorded capital flight of about $380 billion between 1956 when oil was discovered in the creeks of Oloibiri and 2006, when the Nigerian content policy was initiated. Oil exploration was left in the hands of International Oil Companies (IOCs). They have the technology and the capital to venture into the complex area of oil exploration. For decades, Nigeria operated a skewed joint venture with IOCs in which the IOCs take 80% of the profit from these deep-offshore fields, while the government receives 20%. Most of Nigeria’s crude is pumped by five IOCs which operate joint ventures and partnerships with the state-owned NNPC. This means that though Nigeria owns the crude, the IOCs make the money. At a time, it was reported that out of every $100 revenue from oil, only $5 is retained in Nigeria. The rest is moved overseas in what should count as the cruelest capital flight and most abusive business relationship in human history. For effect, Nigeria has a proven crude oil reserve of 37 billion barrels of oil making her the 11th largest in the world. She also has a proven gas reserve of 206 TCF which places her as the 9th largest reserve in the world. Whichever part of the prism is considered, Nigeria has remained and will always be among the top oil and gas players in the world. But the same Nigeria ranks among top nations with the least benefits of their reserves. Foreigners, not Nigerians, profit more from the nation’s huge oil and gas deposits because over the years, Nigeria has shown lack of technical and financial capacities to

explore and process these resources. This is why the entry of the likes of Peters into the exploration market deserves commendation. Since 2008 when he braved his way into the deep and complex oil exploration field, Peters has built his Aiteo Group into the biggest indigenous oil producer in Nigeria and one of the biggest in Africa. He is at the forefront of helping the Nigerian government fulfill its mandate of backward integration in the oil and gas sector. He has become a home-grown brand flying the national flag at home and offshore. Every country has a strategy for protecting and preserving her resources because no country in the world has all the natural resources in her sub-soil. This explains why a country tries to protect her areas of comparative advantage so that it can be utilized to trade for what she lacks. Nigeria has comparative advantage in her huge oil and gas reserves but she must create the capacity to process such otherwise it becomes a case of starving in the midst of plenty. Peters’ Aiteo milestone finds more essence in the African Continental Free Trade Agreement (AfCFTA) which effectively created the world’s largest free trade area connecting 1.3 billion people on the continent with a combined GDP of about $3.4trillion in a single market. The AfCFTA provides African nation a rare opportunity to trade seamlessly among themselves. It is expected that Nigeria will play a leading role in the market meant to address the low intra-regional trade in Africa estimated at just 17%. Whereas intra-regional trade in Europe stands at 69%, that of Asia is 59 percent. Nigeria through the

efforts of local players like Peters will dictate the oil and gas market within the framework of AfCFTA. The bold effort of Peters which birthed Aiteo E & P has positioned Nigeria as a leader in the practice of local content in the oil and gas industry. It has also encouraged other Nigerian players to brave the odds. Today, whether it is the Nigeria Liquefied Natural Gas (NLNG) project which boasts over 95 percent of Nigerian skilled workforce or the deep sea oil exploration, there is a significant leap forward in local content. The extent of Nigeria’s Continental leadership in local content is to be seen in ongoing collaboration with other African countries namely: Angola, Ghana, Sierra Leone, Senegal, Kenya, Mali, Mozambique, Niger Republic, Uganda, among others. Some of these countries have visited Nigeria just to understudy the nation’s local content policy implementation. Wrapped in Peters’ creation of an oil exploration powerhouse are multiple benefits including creation of jobs, direct and indirect, for thousands of Nigerians; deliberate upskilling of the workforce, technology transfer and an arrest of capital flight in billions of dollars. While it is apposite to wish him a happy birthday, albeit in arrears, it’s imperative to say that when the narrative of oil and gas industry in Nigeria is told, Benedict Peters will occupy a huge chapter written in petals of gold to accentuate the boldness of a young Nigerian who opened the door for many. Olali wrote from Yenagoa

T H I S D AY • WEDNESDAY, DECEMBER 8, 2021

EDITORIAL OMICRON AND THE UK RED LIST The decision to put Nigeria on the red list is ill-advised

ast Saturday, the British government put Nigeria on its Covid-19 Red List, following claims that some travellers who arrived their country with Omicron--the latest variant of the virus--were traced to our country. While travellers on transit are allowed to connect flights to other destinations at the airside, there is a temporary travel ban for all non-UK and non-Irish citizens and residents who have been in Nigeria in the last 10 days, which means they would be refused entry into the United Kingdom. The federal government has described this decision by UK authorities as discriminatory because the same standard is not being applied to other counties outside the continent aside the fact that there is no objective or scientific basis for it. Questions are particularly being asked as to why most of the countries placed on this controversial red list are from Africa. It becomes even more curious that SINCE THE UK AUTHORITIES Zimbabwe, where HAVE PLEDGED TO REVIEW no one had tested THEIR DECISION OF PUTTING positive for Omicron, was placed on the red NIGERIA ON THE RED LIST list. That visa apBY 20TH DECEMBER, IT plications have been IS HOPED THAT COMMON suspended in these SENSE WILL SOON PREVAIL countries indicate that the decision was more political than any attempt to curtail Covid-19. It is noteworthy that after South Africa announced the detection of Omicron, Netherlands disclosed that the COVID-19 variant had been in their country. The UK has not announced a ban of Dutch travellers. Meanwhile, there is no report that the new variant has recorded fatality anywhere in Africa. Not even in South Africa, which first announced the presence of the variant. But there are reports that Omicron is spreading in Europe as many of the countries prepare for the 4th wave of a pandemic that has refused to go away. The Secretary-General of United Nations, Antonio

Letters to the Editor

Guterres, has joined voices with other international stakeholders to condemn the decision of the UK. “We have the instruments to have safe travels, let us use those instruments to avoid this kind of… allow me to say, travel apartheid, which I think is unacceptable,” said Guterres. “What is unacceptable is to have one part of the world condemned to a lockout when they were the ones that revealed the existence of a new variant that, by the way, already existed in other parts of the world, including in Europe as we know.”

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

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ince the UK authorities have pledged to review their decision of putting Nigeria on the red list by 20th December, it is hoped that common sense will soon prevail. Already, the travel plans of many Nigerians who see UK as second home have been shattered because if they come to Nigeria, each of them would pay 2, 285 pounds for a 10-day quarantine when they return to the UK. Also, many Nigerians who had planned to visit the UK during this Christmas holiday will have to shelve the plan because they will not be allowed entry. Meanwhile, international travel remains the preserve of a tiny elite in Nigeria. That elite happens to be among the 3% of the population that has been vaccinated. Curiously, the UK authorities have not proved that vaccinated citizens in their country are being infected signiﬁcantly by the Omicron variant. This leaves the unfortunate conclusion that the latest travel ban against Nigerians is based on grounds not totally accounted for by science. It would be a sad day when nations begin to hide under the Covid-19 emergency to enforce immigration policies based on race. The UK action on this instance is bad precedent from a country with such a long historical association with Nigeria. But this is a time that calls for diplomacy and not rabble-rousing. Rash reciprocity will yield no beneﬁt except to create further hardship for ordinary travellers from both countries. We therefore urge the federal government to engage with their British counterparts constructively to correct what is clearly an ill-advised and wrong-headed measure.

TO OUR READERS Letters in response to speciﬁc publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

WELFARE, TRAINING AND THE POLICE FORCE

hese golden words which glisten with the gold dust of some of Nigeria`s finest public relations ironically strike Nigerians with the force of a horse whip. Nigerians have always had a testy, stormy relationship with their police. Where there should be affirmation, there is aggravation; where there should be trust, there is treachery; where there should be compassion, there is consternation. So, the love-hate cycle has continued, conditioned by the chilling mechanics of crime that confront Nigeria`s rickety train of nationhood at each turn. Against this background accentuated by the dark hue of national insecurity, news that Mr. Nnaji Ebenezer Chibueze, a Corporal of the Nigerian Police Force, recently got his PhD in Educational Administration and Planning from the Abia State University warmed the cockles of many hearts. Also, today, 8th December 2021, Mr. Simon Lough, a lawyer and an Assistant Commissioner of Police, will make a sparkling ascent into the inner bar as a Senior Advocate of Nigeria. A first. Although Nigerians wish their police well, suspicion has long simmered about their temperament and training. Also, Nigerians have always questioned the rigor that goes into their recruitment and reskilling having witnessed their protectors become plunderers under pecuniary pressure.

Nigerians have seen the ancient tools of extortion and extermination cunningly reinvented at the instance of the police. So, there was the Lekki toll gate as just one of so many spots around the country where protectors became plunderers beneath the merciless gaze of history. To walk into many police stations across the country is to walk into veritable dungeons of depression with decrepit buildings competing with dilapidated desks for the attention of despondent police men destitute of any iota of professionalism. Of course, Nigerians want police stations to be places of welcome even for suspects about to be subjected to judicial scrutiny. As it is with the subhuman conditions at the police stations so it is with policemen. A systemic neglect of their welfare fueled by relentless corruption has occasioned a haemorrhage of dignity that has defied every cure till date. Like the woman with the issue of blood, the police desperately need a garment. In spite of the extremely dangerous work, they do and the many sacrifices they make to keep Nigeria`s many master criminals at bay, when they die in the line of duty, Nigeria`s bureaucracy clicks into its most ponderous gear, leaving their heartbroken families stranded. Nigerians want a sanitized police force culled of the brutes who spattered innocent blood on the Lekki toll gate on October

20,2020; Nigerians want a police force without the killers who shoot and kill drivers and commuters when the slightest disagreement turns on N20; Nigerians want a police force that is painstakingly professional and well-trained; Nigerians want a well-armed and well-remunerated police force; Nigerians would not mind for a second if the monthly pay packs of policemen get bigger than the humongously unjustifiable pay packets Nigerian ministers and legislators take home for doing comparatively less. To achieve this, corruption must be put to flight. Corruption`s congress of owls which turns even day to night to prey on Nigeria`s resources must be forced to cease operations. This is even more critical now that a fresh round of recruitment is about to be undertaken into the Nigerian Police Force. Wherever Nigerians turn, enemies abound. The many master criminals who walk the face of the country have been emboldened by the startling slumber of a once towering giant. The country must be roused again and the police can help with this. Congratulations to Messrs. Nnaji Ebenezer Chibueze and Simon Lough. If they listen well, they will hear the rapturous applause of awestruck Nigerians. But until the police force is rid of its rotten eggs, Nigerians will remain hard-pressed to tell whether the police is friend or foe. Kene Obiezu, keneobiezu@gmail.com

WEDNESDAY DECEMBER 8, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY DECEMBER 8, 2021

MIDWEEKPOLITICS

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

Why Buhari Should Halt the Illegality of Sole Administrator at NDDC For a government that prides itself on adherence to rule of law, President Muhammadu Buhari’s administration conversely continues to administer the Niger Delta Development Commission in ﬂagrant violation of the NDDC Act. As a Commission established in 2000 by an Act of parliament, the ongoing national embarrassment at NDDC should be of grave concern to President Buhari about his legacy when he leaves oﬃce in 2023 and thereby persuade him to put an end to the illegality of further administering NDDC with a Sole Administrator that is not known to the law setting-up the commission, writes Nseobong Okon-Ekong

Buhari

hile receiving governors of the constituent states that make-up NDDC in Aso Rock on October 17, 2019, President Buhari said that “I try to follow the Act setting up these institutions especially the NDDC.” However, the reverse has been the case. Since the inauguration of the Buhari Presidency on May 29, 2015, it has serially violated the law setting up NDDC by consistently choosing to administer the commission through illegal interim managements and Sole Administrator contraptions that are alien to the law setting up NDDC. In the six and a half-years tenure of President Buhari, NDDC has only been administered by a substantive Board for two years, between November 2016 and January 2019 when Senator Victor Ndom-Egba was Chairman while Nsima Ekere was the Managing Director. There is a pattern of illegalities instituted by the current administration to undermine accountability at the NDDC in a way that no other federal agency has been so treated in the last six and a half,years of the Buhari Presidency. In the 15-year history of the NDDC, prior to President Buhari’s coming in 2015, an interim appointment had never been made outside of the law, even when the governing boards were dissolved. Prior to Buhari’s coming to power in 2015, in the absence of a Board duly constituted in line with the NDDC Act, the Most Senior Civil Servant in the NDDC took over as Managing Director in acting capacity for a brief period until a Board was constituted in line with the NDDC Act. The NDDC Act does not permit the appointment of any external persons from outside the Commission to act as Managing Director or Sole Administrator without compliance with the Act which requires nomination by the President and confirmation by the Senate. This is the same requirement for ministers of the Federal Republic. The law does not permit for anyone to be appointed as acting Minister in any ministry. If there is no minister in a ministry, the Most Senior Civil Servant - i.e. the Permanent Secretary holds forth until a Minister is appointed by the President and duly confirmed by the Senate of the Federal Republic of Nigeria. The orderly succession in NDDC was only breached in 2015 by the Buhari administration when it dissolved the Bassey Henshaw-led Board with Dan Abia as Managing Director, and appointed Ibim Semenitari as Sole Administrator, a position she held illegally for over one year. The illegality in NDDC continued in January 2019

Lawan when President Buhari dissoved the twoyear old Victor Ndoma-Egba led Board and replaced the Board with an Interim Management team led by Professor Nelson Brambaifa. It was not until August of 2019 that the Buhari Presidency ended the illegal Brambaifa interim management team and then, in accordance with the law establishing NDDC forwarded the list of nominees for a 16-member Board to the Senate for confirmation, and then dutifully appointed the most senior civil servant at that time in NDDC, Mrs. Akwaghagha Enyia, as Acting Managing Director pending the Senate confirmation of the President’s nominees as NDDC Board members, which list he forwarded to the Senate on October 18, 2019. But unfortunately again President Buhari relapsed to its recourse to illegality in administering NDDC, because as the Senate dutifully screened and confirmed the nominees of President Buhari as Board and Management of NDDC on November 5, 2019, this same government has since embarked on another spree of interim managements/sole administrator contraptions, while the Board confirmed by the Senate has been on hold since November 2019. Since October 2019 this government has appointed two illegal interim management teams led by Joi Nunieh and Professor Keme Pondei, respectively, and presently the Commission is illegally led by an Interim Administrator, Effiong Akwa. As reported in a national daily last week, it is therefore a fitting call to duty that a Niger Delta Monarch, The Ovie of

Akpabio Idjerhe Kingdom, HRM Monday Whiskey Udurhie I, appealed to President Muhammadu Buhari to comply with the law by inaugurating the substantive Board of the Commission. According to the newspaper report quoting the Monarch, HRM Monday Whiskey Udurhie I, “The Niger Delta has not been so bad in the past 20 years of NDDC’s existence that one single individual in the name of Minister of Niger Delta Affairs will hijack the administrative structures of the interventionist agency working for social-economic development of a sensitive region like the Niger Delta and the entire nation’s leadership will go to sleep as if all is well.” HRM Monday Whiskey Udurhie I insisted that “The Federal Government can no longer pretend that the unholy alliance between Godswill Akpabio and some principal officers of the Federal Government to ignite uncontrollable crisis is not known to it. President Buhari must now rise to the occasion to save the Niger Delta region from the sorry state of an individual who has deliberately decided to abandon his Ministerial responsibilities and took over the rulership of NDDC.“ Also, Delta State Governor and Chairman of the South-south Governors’ Forum (SSGF), Senator Ifeanyi Okowa has described the delay of President Buhari to inaugurate the Board of the Niger Delta Development Commission (NDDC) as deprivation of the entire South-south Region. Speaking last week in Government House, Asaba, during the quarterly media

The Federal Government can no longer pretend that the unholy alliance between Godswill Akpabio and some principal oﬃcers of the Federal Government to ignite uncontrollable crisis is not known to it. President Buhari must now rise to the occasion to save the Niger Delta region from the sorry state of an individual who has deliberately decided to abandon his Ministerial responsibilities and took over the rulership of NDDC

briefing, Okowa expressed displeasure over the slow action of the President to inaugurate a Board for the Commission. He recalled that the governors of the constituent states of the NDDC have consistently made their position known since October 2019 when the Commission has been without a board. Okowa said, “We have made our position clear as South-south Governors. We have spoken about how we feel and it is very unfortunate that where we are at the moment, it ought not to be so. We have not had a proper board for over two years now and that is not right. Whatever situation the NDDC is operating with now is unknown to the law of this country.” He noted that NDDC has been administered on illegality and non-compliance with the law (NDDC Act) as the nine constituent states of the Niger Delta have been deprived of their statutory representation due to the delay of the President to inaugurate a substantive board to run the affairs of the Commission in accordance with the law establishing the Commission. Governor Okowa regretted that “the states are now being deprived of the opportunity of having their representatives at the board because you are supposed to have state representatives who are able to ensure that the budget of the NDDC is run in the way it ought to run, with what is due to each state, getting to them. This has not been the situation for quite some time and that is why we have always complained.” According to him, “I feel that no matter what is going on, there is a law and there is a need for Federal Government to do what is right. The provision in the law ensures that there is equity and that no state is short-changed.” In a similar vein, The 21st Century Youths of Niger Delta and Agitators with Conscience (21st CYNDAC), in a statement issued by its Coordinator, Izon Ebi reiterated its call on President Muhammadu Buhari to inaugurate the substantive board of the Niger Delta Development Commission, (NDDC) and noted with dismay that “as it stands, the North East Development Commission (NEDC) is making progress (with a proper Board and Management in place) while the Niger Delta region and its NDDC that pays the supreme sacrifice of contributing eighty percent to the nation’s GDP is being used for political brinkmanship and showmanship to the detriment of the pathetic plight of the Niger Delta region and its people.” NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY DECEMBER 8, 2021

POLITICS

Benson’s Legislative Ingenuity on Security

GOVERNANCE IN PHOTOS

Udora Orizu x-rays laudable legislative interventions of the Chairman House of Representatives Committee on Defence, Hon. Babajimi Benson to stem the tide of insecurity in the country

Benson

egislators, as members of legislative branch of government, govern by proposing bills, holding votes, and passing laws. An effective legislator is one who ensures that the main functions of the legislature which are making laws, representing constituencies and power balance are the core focus while carrying out his or her legislative activities. With 469 members in both Senate and House of Representatives only a few of the federal legislators carry out the legislative duties expected of them by their constituents. One of such legislators is Hon. Babajimi Benson. Benson who represents Ikorodu Federal Constituency, Lagos State, is the Chairman, House of Representatives Committee on Defence. Currently, Nigeria is facing security challenges ranging from activities of the dreaded Boko Haram insurgents in the North-East, armed banditry in the North-West, Fulani herdsmen attacks in the North-Central and other parts of the country to violent crimes like armed robbery, kidnapping, assassinations, oil bunkering, cult activities and killings. In the face of this unfortunate situation, government and security agencies seem to be helpless, blaming the situation on shortage of equipment and personnel which borders on funding. Hon. Benson as the Chairman House Committee on Defence, through bills and motions has canvassed ways to aid the security agents in carrying out their duties more efficiently and effectively in the fight against insecurity. One of such efforts towards enhancing defence capabilities, led him to sponsoring a Bill seeking to establish the Nigerian Armed Forces Support Fund 2020. At the Bill’s public hearing in May, stakeholders drawn from various security agencies disclosed that the proposed total sum of N100 billion envisaged to be realized from various sources was inadequate, due to various economic factors, to adequately fund security infrastructure. While stressing the need for expansion of the Armed Forces Support Trust Fund from five years to a minimum of 10 years and above with an average of $2 billion accrued into the account, the security personnel harped on the need for adequate provisions of fund for training, research and development as well as procurement of hardware and ammunition. Benson, in his remarks maintained that the current annual budgetary allocation remains inadequate, considering the ongoing expansion embarked on by the Armed Forces in terms of personnel and the provision of platforms, weaponry and equipment to sustain its everincreasing operations. According to him, “efforts in the past by the Armed Forces of Nigeria to procure the needed military hardware and provide requisite training to meet the challenges currently being faced has hit the brick wall due to limited financial resources. This also underscores the immense importance of this Bill. It is pertinent to mention that, globally, no country adequately finances its Armed Forces solely through annual

budgetary allocations. Developed countries like the United Kingdom, Poland, Russia, United States of America, who are some of the biggest spenders on defence, all create alternative or additional sources of income to fund the activities of their Armed Forces. “Nigeria ranks very low on on global defence spending and occupies the fourth position in Africa, below Algeria, Morocco and South Africa despite its numerous security challenges. In 2020, while Nigeria spent only $2.6 billion on its military, Algeria, Morocco and South Africa expended $9.7 billion, $4.8 billion and $3.1 billion respectively to fund and equip their military. Coping with the modern security challenges being faced in Nigeria today is, no doubt, an enormous task that requires contemporary, robust, well-trained, wellequipped and efficient Armed Forces. This is what the Armed Forces Support Trust Fund (Establishment) Bill, 2021 seeks to address by creating an exclusive five-year funding plan, outside the annual budgetary allocations, for revamping the Nigerian Armed Forces through special training for Armed Forces personnel and provision of modern fit-for-purpose security and defence equipment.” The Bill has been signed by the Speaker of the House of Representatives, Hon. Femi Gbajabiamila and transmitted to the Senate for concurrence. Also, Benson at different occasions frowned at bandits and other criminal elements, perpetrating all manner of atrocities against innocent citizens. He is among the lawmakers that frowned at the Bill introduced in the Senate, seeking to sponsor repentant Boko Haram members to receive foreign education. Speaking to THISDAY, he said Boko Haram members should be treated as terrorists while the victims should be rehabilitated and given proper education. In September, he sponsored a motion, backing the Senate in calling on President Muhammadu Buhari to declare bandits and their sponsors as terrorists. Moving the motion, Benson said it was important to support the position of the Senate on the issue in view of the current insecurity across the country. He explained that declaring bandits as terrorists, will underline the determination of the Federal Government to combat the wave of criminality and murders conducted by bandits all over the country. The lawmaker further said the declaration may also encourage other countries to do same and help create a global consensus around dealing with transnational factors that feeds the domestic activities of such proscribed organisations and individuals. Benson said, “The Senate on Wednesday, 29th September, 2021 adopted a motion asking President Muhammadu Buhari to declare bandits ravaging the northern part of the country terrorists and wage a total war on them. They also asked that the president declare all known leaders of bandits wanted and arrest them wherever they were found for speedy prosecution. Such declaration to be done through a Proscription Order can be done pursuant to section 2 of the Terrorism Prevention Act, 2011 (As Amended). “I will like to echo the same sentiment and ask honourable colleagues to join the Senate in urging Mr President to declare bandits and their sponsors as terrorists. The declaration of bandits as terrorists can be done through a proscription order. That will serve as added impetus for our brave security personnel to redouble their efforts at dealing with this menace. Such declaration when given the force of law, will renew the vigour and resolve of our gallant security personnel in dealing with the menace of banditry as the mode of operations and rules of engagement will be scaled up accordingly. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

L-R: Alhaja Tanwa Olusi, Princess Aderenle Adeniran-Ogunsanya, Dr. Bukola Saraki and Mr. Olajide Abdulazeez Adediran at the formal departure of Adeniran’s Lagos4Lagos Movement from the All Progressives Congress Lagos State Chapter and declaration of interest to join the Peoples Democratic Party

L-R; Parade Commander, Mr. Lawal Olalekun;Chief Executive Officer,Lagos State Law Enforcement Training Institute (LETI), Dr. Adegboyega Bajulaiye; Permanent Secretary Office of the Chief of Staff to Lagos State Governor, Mr. Lawal Musa; and the Law Enforcement Officers, at the passing out parade for year 2021 In-Service mandatory training for law enforcement officers in Magodo,Lagos State recently PHOTO: ETOP UKUTT

Speaker, House of the Representatives, Hon. Femi Gbajabiamila (3rd right) ﬂanked by the Ayangburen of Ikorodu Kingdom HRH. Oba Kabiru Adewale Shotobi (2nd right), Hon. Babajimi Benson (2nd left) and others while commissioning the roads facilitated by Hon. Benson in Ikorodu, Lagos

L-R; Chairman, National Population Commission, Nasir Issa Kwarra; Ekiti State Governor, Dr Kayode Fayemi; Commissioner (Representing Lagos State), Barr Bimbola Salu Hundeyi; and Commissioner (Representing Ekiti State), Mr Ayodeji Ajayi; when the NPC Chairman led a delegation of South-west Commissioners on a visit to the Governor’s oﬃce, Ado-Ekiti

T H I S D AY ˾ WEDNESDAY DECEMBER 8, 2021

FEATURES

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

Reintegrating Ex-tobacco Farmers into Production of Food Crops In line with its corporate transformation towards 'A Better Tomorrow', British American Tobacco Group recently launched a N200million Farmers Fund for the re-integration and profitable engagement of ex-tobacco farmers in the production of food crops like cassava and maize, Chiemelie Ezeobi reports

L-R: Area Head of Operations, British American Tobacco (BAT) West and Central Africa, Waseem Hayat: DG, SON, Mr Farouk Salim; Director, External Aﬀairs, BAT West and Central Africa, Odiri Erewa-Meggison; Oyo State Chief of Staﬀ and representative of the state governor, Mr Segun Ogunwuyi; Area Director, BAT West and Central Africa, Yarub Al-Bahrani; DG MAN, Engr Segun Ajayi-Kadir, and Area Head of Legal, West and Central Africa, Simukai Munjanganja, during a courtesy visit by the Oyo State government to the BAT factory and launch of the Farmers Fund in Ibadan, Oyo State

ollowing a recent review of the supply chain process across the British American Tobacco (BAT) Group to increase their business efficiency, it was decided to utilise tobacco leaf from alternative global sources and focus their resources in Nigeria on the manufacturing and export of cigarettes. Accordingly, leaf operations have ceased. According to the group, as a responsible company, "we were aware of the impact the decision will have on their source of livelihood and although we already trained and encouraged the farmers to engage in alternative cropping (i.e. production of food crops), we knew we had to do more to mitigate their exposure and ensure a thriving and sustainable future for them. Objective of the Farmers Fund The objective of the Farmers Fund is to provide financial and technical support to 364 ex-tobacco farmers to profitably transition them to sustainable arable farmers. The fund will support the farmers to cultivate 448 hectares of cassava and maize. Needs Assessment A needs assessment was done to identify farmers' needs and to ensure a programme that is fit for purpose. In addition to the needs assessment, the expectations of farmers were also captured and used to design the cocktail of support provided to them. The following gaps were identified crop farming involving cassava or an intercrop with cassava was preferred by all farmers. In most of the communities the farmers live in, mechanised land preparation is practiced but more training is required in terms of adequate plant population, improved seeds, land management and labour cost. The Needs Assessment also identified that farmers sell mostly fresh cassava root and there was no major processing facility in their local g overnment area/community. Support Across board, the support given was for 365 farmers over three years and two growing seasons for mixed cropping- maize and cassava Fund Output The fund output for Market Linkage is expected to identify off-takers and link them to farmers while Capacities Building involves training. Also, Operation Financing involves inputs and services while Monitoring and Evaluation covers extension

Cheque presentation to the farmers

services and cooperative societies set-up. Expectations For the company, after the funding, their expectations for the farmers include increased income, higher prices for farm products, sales increase, increased yield, improved farm security, support in form of loans, use of mechanisation, market improvement, control on open cattle grazing, price regulation, and good housing. Launch At the launch of the fund in Oyo and visit of Oyo State Governor, Seyi Makinde to BAT’s state-of-the-art factory in Ibadan, the group pledged to build on its 'A Better Tomorrow' concept. The visit by the governor was for a first-hand appraisal of BAT’s $185m factory investment in the state and to also officially launch the N200million Farmers Fund. According to BAT’s Area Director for West and Central Africa, Yarub Al-Bahrani “BAT is transforming, and this transformation is underpinned by its purpose: building A by reducing the health impact of its business through offering a greater choice of enjoyable and less risky products to consumers." He said BAT’s transformation and pursuit to build A Better Tomorrow is accelerated by innovation and sustainability, adding that "the company’s consumer-led innovation is centred around anticipating and satisfying the ever-evolving needs of its consumers and providing them with a range of reduced risks products. "As was done with its legacy business, implementing this entails the establishment of manufacturing and export hubs. Hence, further capital investments will be made in Nigeria and across West and Central Africa but the expansion and investment

in new product lines will be at the Ibadan factory. "BAT’s approach to sustainability is also at the centre of its transformation plans. BAT relies on the successful delivery of all its sustainability priorities across the environment, social impact, and governance landscape to create shared value for consumers, society, employees and shareholders. "BAT has also set ambitious targets and continue to achieve them including:100 per cent recycling, zero waste to government landfill, green fuel (CNG independent power plant) for power generation, water recycling for horticulture and Zero Loss time accident from the factory operations. "The N200million Farmers Fund which Governor Seyi Makinde formally launched today was established by BAT as a social impact initiative for the benefit of rural smallholder farmers in the Oke-Ogun Area of Oyo State. The fund which is administered by the International Institute of Tropical Agriculture (IITA) is to support the farmers who grew and sold tobacco leaf to BAT over the years to transition into the production of food crops following the discontinuation of its leaf farming programme." While re-emphasising the company’s commitment to Nigeria and to Oyo State as it drives its corporate transformation, called for greater collaboration with governments and regulatory bodies, Al-Bahrani noted that only through collaborative efforts can an effective regulatory framework be developed to enable real choice for adult consumers whilst still serving the Tobacco Harm Reduction public health objectives. Commitment from Oyo In his remarks at the event, the governor

BAT’s approach to sustainability is also at the centre of its transformation plans. BAT relies on the successful delivery of all its sustainability priorities across the environment, social impact, and governance landscape to create shared value for consumers, society, employees and shareholders

who was represented by his Chief of Staff, Otunba Segun Ogunwuyi, lauded BAT’s efforts, and stated that the unique out-growership model used by BATN has contributed immensely to the economic well-being of many farmers in the State. He said: "As a government, we remain committed to supporting businesses via the provision of adequate infrastructure and security. Our administration will continue to foster an enabling business environment for human and material capital to thrive and prosper. This to us is an essential ingredient in our expanded economy drive that will take our people from poverty to prosperity. "The N200m Farmers Fund instituted by BATN in partnership with IITA is therefore a step in the right direction towards cushioning the impact of the company’s operation on farmers whose livelihoods were affected by the decision to discontinue tobacco cultivation in Oyo State. I therefore use this medium to urge the BATN to ramp up efforts for continued improvement in the livelihoods of farmers and stakeholders along the value chain." Commendations The Director General of the Standards Organisation of Nigeria (SON), Mr Farouk Salim, who was also present at the ceremony, commended BAT’s efforts, stating that the importance of manufacturing companies cannot be overemphasised. “The factory, based on information you gave us, has an impact on 350,000 lives. Considering the volume and value of your exports yearly, imagine if you have just 30 of this company in the country the multiplier effect will be amazing. Our youths will have jobs, our country will not depend too much on one item and we will have sustainability in so many ways” he added. Also, President, Manufacturers Association of Nigeria (MAN) Mansur Ahmed, who was represented at the event, said BAT Nigeria is a valued member of MAN and "we are pleased with the resilience the company the of the very challenging business environment we operate. Our tour of the factory will bear testimony to the capacity of private enterprise to thrive under the right conditions that the government should provide. "In this regards, I would like to commend BAT for its new corporate purpose. The choice of a Better Tomorrow shows that the BAT Group is aware of its impact on people and the environment and willing to deliver a better future".

T H I S D AY ˾ WEDNESDAY DECEMBER 8, 2021

FEATURES

Buhari’s Applause for SGF, Staff of Cabinet Affairs Ofﬁce

SGF and staﬀ of CAO Tajudeen Kareem

any regard him as mai gaskiya, the man who lives by the truth. Others applaud him as frugal and taciturn. All these are known attributes of President Muhammadu Buhari. While the President has seldom wielded the big stick on erring state officials, he has effusively commended his number one bureaucrat, the Secretary to the Government of the Federation, Boss Mustapha. In appreciation of the selfless service of the gangling SGF, President Buhari has severally applauded his diligence, commitment and leadership qualities. Two years after assuming office, Mustapha received a commendation from the President: “I am writing to personally recognise your competence and commend the way you organised and led the Ministers' Retreat. The benefits derived from the Committee's discussions were enormous, and the added values to the Ministers' and Permanent Secretaries' experiences very much appreciated.” When he attained 64 years in September, 2020, President Buhari joined the ruling All Progressives Congress, APC, and the Federal Executive Council to celebrate Mustapha as “the legal luminary, party stalwart and Chairman of the Presidential Task Force on COVID-19, whose visionary and inclusive leadership style continues to strengthen the governing party and the administration, with remarkable results." The President affirmed: "Mustapha has provided strong and commendable leadership as a rallying point for the Federal Executive Council and demonstrated high-level of patriotism by accepting the demanding position of chairing the Presidential Task Force on COVID-19.” On September 2, 2021 the President wrote: “Since his appointment as SGF, my respect and admiration for Mustapha have grown ever stronger and deeper because of the passion and energy with which he does his job. Mr. Mustapha is a remarkably competent person who enjoys the confidence and support of his colleagues.” The President also commended him for “playing a big part in the nation’s unparalleled success in combating the COVID-19 pandemic even as he urged “other public servants to borrow a leaf from Boss Mustapha who does his job with passion and amazing talent for details. But Mustapha, not carried away by the encomiums from the President, has rightly identified the ‘spark plug’ in his domain- the incontrovertible engine room of the government.

The Cabinet Affairs Office, CAO, is one arm of the OSGF. There are others namely, Special Services, Ecological Projects, Political and Economic Affairs as well as General Services. The CAO, aptly described as the spark plug, is the hub of the federal bureaucracy. This office is saddled with the task of processing the Memoranda and Notes for the weekly Federal Executive Council meeting. It also produces Council conclusions and the extracts of FEC approvals. It provides administrative support for the National Council of State, the Police Council and all other councils where the President presides. In the words of Mustapha, the CAO is “the arm of the government that services the highest administrative and policy decision making process.” The CAO, rarely visible to the public, is the organ saddled with the organisation and management of Ministerial Performance Review Retreats for ministers, permanent secretaries and top government functionaries hosted by the President in Abuja. The last of such forum was held in October, prompting the rave commendation by President Buhari The President’s message was conveyed in a letter of appreciation to the SGF and the staff of the Cabinet Affairs Office. President Buhari who presided over the two-day retreat, attributed its success to the hard work and commitment of the SGF and his team in his letter which partly read: “The success of the retreat is something to be proud of. You and your team made it happen. Please accept my congratulations.” Mustapha, at a post retreat meeting, lauded the Permanent Secretary, CAO, Mr. James Sule and the staff of the Central Delivery Coordination Unit who worked with both local and international partners to make the event a success. “Under intense pressure, you kept your cool, you did what was needful and we presented and executed a master plan that has never been done in the history of Nigeria, where a government will willingly subject itself to the interrogation

and investigation of what it has done with the mandate that the people of Nigeria willing gave to it.” He also reiterated the directive of the President to convene quarterly coordination meetings for each priority area based on the collaborative result framework even as he explained that the objective was to ascertain the status of implementation across the nine priority areas, identify bottlenecks and proffer immediate solutions. The nine priority areas are building a thriving and sustainable economy; enhancing social inclusion and poverty reduction; enlarging agricultural output for food security and export as well as attaining energy sufficiency in power and petroleum products. Others are expanding transport and infrastructural development; business growth; entrepreneurship and industrialisation; access to quality education; affordable healthcare and productivity of Nigerians. The administration has also prioritised building a system to fight corruption, improve governance and create social cohesion as well as security for all. The SGF said government will “engage with stakeholders to develop a framework to institutionalise the Central Delivery Coordination Unit to ensure that the current efforts are sustained by the next administration come 2023.” Mustapha promised to support the staff of the Cabinet Affairs Office and the Delivery Unit for effective service delivery. “Let me reassure you of our commitment to addressing the challenges being faced at the Cabinet Affairs Office. To this effect, I have directed that the monthly overhead allocation of the CAO be increased. We will also explore every opportunity we have to provide improved welfare for our staff,” he told his cheery staff. “Whatever are the expectations and desires that you have set for yourself on your career progression, nothing will stop you from getting to that desired destination. Therefore, I cannot but thank you for the high professionalism, efficiency,

The president also commended him for playing a big part in the nation’s unparalleled success in combating the COVID-19 pandemic even as he urged other public servants to borrow a leaf from Boss Mustapha who does his job with passion and amazing talent for details

and effectiveness that each and every one of you continued to demonstrate in all the activities of the cabinet office. “You don't have a day off because as you are finishing from the Federal Executive Council, you are preparing the minutes, you are preparing the agenda item for the next Federal Executive Council, you are pushing out the notices, you are working out the conclusions until very late on Sundays and it is signed off for production and circulation on Monday. “People don't know what you do behind the scenes to ensure that the government moves efficiently and is provided with the services that are required,” Mustapha told the staff. Sule expressed appreciation to the President for the commendation and also thanked the SGF for the leadership and support he has provided which enabled civil servants to perform optimally. He pledged the loyalty of his staff to the SGF and promised to carry out all directives of the President to sustain the gains of the retreat. Esege Esege, a principal planning officer at the CAO who worked at the central delivery coordination unit, recalled a rewarding experience working for nine months. He specifically appreciates the opportunity for capacity building and the hands-on experience. “We have been able to institutionalize the delivery unit as directed by the President. We also had the opportunity of working with a wide range of sector experts and collaborating with the delivery managers who are handling different priority areas. “The retreat afforded us the opportunity to engage with ministries in terms of setting their targets, collating and analysing data, working with them. “It is important to mention the overwhelming support of our able permanent secretary, who came in and took charge of institutionalizing the delivery unit and from January till now he has been overseeing this project and that is why at the end we succeeded in achieving the mandate of the President,” said Esege. The Director, Economic and Finance, Mrs Nkem Anwunah expressed gratitude for the rare recognition from the President as she thanked the SGF for providing effective leadership. “We are grateful to the President that he has publicly recognised us, writing a letter to the SGF, commending the team for the second time running. It’s a wonderful privilege, it’s a good thing and we are happy and some of us that are going to retire very soon, we will retire and keep smiling,” she said. -Kareem wrote in from proedgecomng@ gmail.com

WEDNESDAY DECEMBER 8, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY, DECEMBER 8, 2021

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

D E C E M B E R

S & P INDEX

7 , 2 0 2 1

S & P INDEX

EXCHANGE RATE

OBB

14.00%

CALL

INDEX LEVEL

565.29%

1/4 TO DATE

6.06%

N412.08/ 1 US DOLLAR*

OVERNIGHT

14.50%

1-MONTH

1-DAY

–0.11%

YEAR TO DATE

– 15.66%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.41%

With SDF Impacting Proﬁts, Banks’ Deposits with CBN Drop to 10-year Low of N2.5trn

Kayode Tokede Following the push by the Central Bank of Nigeria (CBN) to stimulate lending to the real of the economy, banks in the last 11 months of 2021 deposited just N2.5 trillion with the central bank, the lowest recorded in last 10-year, THISDAY investigation has revealed. Banks through the Standing Deposit Facility (SDF) on daily basis deposit excess funds with the central bank at an applicable interest rate of 4.5 per cent at an asymmetric corridor of +100/-700 basis points around the 11.5 per cent MPR.

SDF is a monetary policy operation used by central banks around the world to absorb deposits from banks, without involving the use of government securities as collateral in return. THISDAY investigation revealed that in the last 11 months of 2021, banks deposited less at the SDF window, due to the liquidity condition and demand to meet the 65 per cent Loan-to-Deposit (LDR) requirement of the CBN. The CBN had in July 2019 directed that banks daily deposits placement through its SDF should not exceed N2 billion, stressing that any daily deposits above the stipulated amount

will not attract interest payments. According to THISDAY investigation, banks’ deposit with CBN in 11 months of 2021 stood at N2.5trillion, a decline of 56.6 per cent per cent from N6.51trillion recorded in 11 months of 2020. In 11 months of 2019, banks’ deposit with CBN was N10.92 trillion, while in 11 months of 2018 and 2017; it was N34.05 trillion and N7.77trillion respectively. The CBN had in its 2019 guidelines noted that the N2billion deposit represents 73 per cent reduction from the previous limit of N7.5 billion introduced way back in 2014. In November 2014, the CBN said

it observed that banks and discount houses preferred to keeping their idle balances in the SDF with the CBN. Unfortunately, this preference contributed to the restraining of the financial intermediation process, the reason the CBN opted to review the guidelines for the operation of the standing deposit facility. The review recommended that daily placements by discount houses and banks at the SDF should not exceed N7.5 billion. Commenting, the head of research, PanAfrican Capital Holdings Limited, Mr. Moses Ojo said the SDF policy of the CBN has achieved its purpose in banks’ lending to real sector,

stressing that it has strengthened Tier-1 banks lending to key sectors of the nation’s economy. He stated that although some of the banks might not meet the 65 per cent LDR, yet they control a huge percentage of lending to the real sector. He added that: “If some of these Tier-1 banks are not meeting the 65 per cent LDR of the CBN, it actually means they are not ready to lend. Mind you, they had raised important points that include the risk in lending. They consider hike in bad loans and making provision in case any loan goes bad. To a certain extent, I think the SDF policy of

CBN actually worked in driving banks lending to the real sector.” On his part, the Managing Director, Highcap Securities Limited, Mr. David Adnori said the policy has not completely driven banks lending to the real. According to him: “The banks were investing in government bonds and Treasury bills rather than lending to the real sector. The federal government is aggressively issuing bonds and T-Bills to finance budget and it is where banks are investing.” He added that: “It is noted that Continued on page 26

Despite Challenges, Six Tier-1 Banks Record N786.75bn PBT in Nine Months

Kayode Tokede

On the heels of challenging operating environment, Ecobank Transnational, Incorporated (ETI), United Bank for Africa Plc (UBA), Access Bank Plc and three other Tier-1 banks generated N786.75billion in profit before tax in nine months of 2021, an increase of 21.14 per cent from N649.44billion reported in nine months of 2020. The other Tier-1 banks are FBN

Holdings Plc, Guaranty Trust Holding Company Plc and Zenith Bank Plc. Of the banks, ETI had the highest increase in profit before tax by percentage, while Zenith Bank maintained the number one spot in terms of profit before tax value generated in the period under review. FBN Holdings and ETI were the only financial institutions that released audited result and accounts for the nine months period on the Nigerian Exchange Limited (NGX).

From all indications, FBN Holdings and GTCO were the only two banks that recorded decline in profit before tax out of the six Tier-1 banks, while ETI grew its profit before tax significantly by 316.5 per cent. The breakdown of profit before tax generated by these Tier-1 banks revealed that ETI hits N143.67billion in profit before tax in nine months of 2021 from N34.5billion reported in nine months of 2020, while FBN

Holdings reported 16.4 per cent drop in profit before tax to N52.9billion in nine months of 2021 from N63.3billion in nine months of 2020. The Group CEO, ETI, Ade Ayeyemi, in a statement explained that the nine months results demonstrated the hard work invested in driving efficiency inline with the management deliberate focus on driving down cost-to-serve, sustain improvement in the quality of credit portfolio, and strengthening liquidity

and capital buffers. As Access bank grew profit before tax by nearly 16 per cent to N135.08billion in the period under review from N116.6billion reported in the prior nine months, GTCO witnessed about 9.2 per cent drop in profit before tax to N151.91billion in nine months of 2021 from N167.35billion reported in nine months of 2020. UBA grew its profit before tax by 36.5 per cent to N123.35 billion

in nine months of 2021 from N90.37billion reported in nine months of 2020. The Group Managing Director/ CEO, UBA, Kennedy Uzoka had said: “Once again, the bank has shown resilience in delivering on its commitment to shareholders, stakeholders, and the investing public, evident in the strong positive financial metrics recorded in the Continued on page 26

M A R K E T D ATA A S AT T U E S D AY, D E C E M B E R 7 , 2 0 2 1 FGN BONDS DESCRIPTION 9.091 FGNSB 11-DEC-2021 13.402 FGNSB 12-DEC-2021 7.144 FGNSB 15-JAN-2022 13.125 FGNSB 16-JAN-2022 16.39 27-JAN2022

Price

Yield

BILLS Change (%)

MATURITY

OTC FX F U T U R E S

Discount Yield Change (%)

100.05

4.14

0.00

NTB 13-Jan-22

3.69

3.71 0.00

100.13

4.13

0.00

NTB 27-Jan-22

3.85

3.87 0.00

100.36

3.71

0.00

NTB 10-Feb-22

4.00

4.03 0.00

101.01

3.70

0.00

NTB 24-Feb-22

2.45

101.74

3.56

0.00

NTB 10-Mar-22

2.98

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

NGUS DEC 29 2021 421.18

NGUS JAN 26 2022 422.61

NGUS FEB 23 2022 424.04

2.46 0.00

NGUS MAR 30 2022 425.46

3.00 0.00

NGUS APR 27 2022 426.89

C Ps MATURITY

Discount Yield

MREP CP XXXVII 14-DEC-21 MTNN CP IV 17DEC-21 FDHC CP I 17DEC-21 PARP CP II 30DEC-21 CMBL CP XVI 7-JAN-22

Change (%)

13.79

13.82 0.00

7.45

7.46

0.00

7.45

7.46

0.00

5.68

5.70

0.00

7.70

7.75

0.00

WEDNESDAY DECEMBER 8, 2021 • T H I S D AY

WEDNESDAY, DECEMBER 8, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

DESPITE CHALLENGES, SIX TIER-1 BANKS RECORD N786.75BN PBT IN NINE MONTHS

reporting period. “Our profit before tax was up by a record 37per cent to N123.4 billion, with an annualised RoAE of 19.2per cent, showing our renewed commitment to creating more value for our shareholders. In addition, Zenith bank closed the period under review with N179.8billion profit before tax, a 1.43 per cent increase from N177.28billion reported in prior nine months unaudited result and accounts. The nine months result and accounts for 2021 is contrary to Moody’s reports of last year that stated that Nigeria’s banking sector and for banks in Africa will remain negative this year amid difficult operating conditions and sovereign pressures straining banks’ credit

profiles. In a chat with THISDAY, the Chief Operating Officer, InvestData Consulting Limited, Ambrose Omorodion noted the banking sector nine months results were of mixed performances, calling on investors to take position in the banking sector stocks listed on the NGX. According to him: “The banking sector is the most consistent sector on the NGX. The current nine months of 2021 result is not bad considering operating environments and it is expected that dividend payout to shareholders going to be high in 2021 full financial year. “For the likes of Access bank acquiring more banks in Africa, the lender’s in years ahead

might outshine others in terms profit. Access bank has created an impressive impact in most of the African countries it has acquired banks, which is good for the management. “A check into the nine months results of 2021 showed Access bank has surpassed others and it is expected that the expansion going to impact on the bank’s financials going forward. “As we speak now, Zenith Bank is the leading bank in terms of Earning Per Share and also in profitability. GTCO also has shown strength in profits despite reporting decline that led to investors selling its stocks. “The audited results from ETI also an impressive performance but

the lender has not paid dividend to investors for the past six years. We have seen improvement in the pan-African financial parameters lately and we expect dividend payout. “The FBN Holdings results showed mixed performance coupled with decline in profit. However, the Holdings financial institution dividend payout is very low and it might not attract investors. “However, with the change in management and shareholding structure, we might see an impressive performance by 2021 full financial year.” However, THISDAY gathered that there were mixed performances in these banks’ loan impairments charges as they were faced with

growing profits amid increasing operating expenses. Specifically, UBA, GTCO, FBN Holdings and ETI reported a significant drop in loan impairment charges in the months under review, while Zenith Bank, Access bank reported an increase. In all, the six banks reported 12.07 per cent decline in loan impairments charges in nine months of 2021 to N166.31billion as against N189.13billion reported in nine months of 2020. UBA reported 70. 3 per cent decline in its loan impairment charges to N3.4billion from N11.48billion reported in nine months of 2020, while ETI’s loan impairments charges dropped by 3.1 per cent to N59.6billion in nine

months of 2021 from N61.5billion reported in nine months of 2020. As loan impairments charges of FBN Holdings dropped by 37 per cent to N29.62billion in nine months of 2021 from N46.7billion in nine months of 2021, Access bank grew its loan impairments charges by 14 per cent to N38.9billion in nine months of 2021 from N34.20billion reported in nine months of 2020. In addition, GTCO reported about 41 per cent drop in loan impairments charges to N5.99billion from N10.14billion in nine months of 2020, while Zenith Bank recorded N28.8billion loan impairments charges in nine months of 2021, about 15 per cent increase from N25.11billion reported in nine months of 2020.

FG: Economy Now Fully Diversiﬁed From Oil, Lauds Potential of Arise Fashion Show to Stimulate Creative Sector James Emejo in Abuja The Minister of State for Industry, Trade and Investment, Mrs. Maryam Katagum, has insisted that the Nigerian economy had now been fully diversified from oil

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

and gas with remarkable advances into sectors including ICT, creative industry, services and agriculture under the leadership of President Muhammadu Buhari. The minister also commended the “highly successful Arise Fashion Show 2021,” as part of Dubai Expo’s Nigeria National Day events, which took place in Dubai, United Arab Emirates. She said the “show captivated the audience with the dynamic creativity and innovative styles of Nigerian fashion icons and pace setters” and demonstrated the potentials of the sector to contribute substantially to economic growth and job creation. Speaking at the opening of the maiden Enjoy Nigeria Expo (ENEX) themed:”A Future Assured through Cultural Creativity” in Abuja, Katagum said the cur-

rent administration is purposely committed to repositioning and building a more robust and resilient economy that is less dependent on the oil sector. The minister said this drive could only be achieved by developing a more competitive non-oil sector, through the expansion of business growth and stimulating entrepreneurship and industrialisation and recognizing the role of the private sector as major contributors to national income and principal job creators and employers of labour. She pointed out that as the exploits of Nollywood, the Nigerian film industry had shown, when Nigerians decide to pay attention to any particular sector, “we excel in it beyond our dreams. For example, the Nigerian fashion industry, which

is now a pacesetter on the African continent. A few days ago, we had the highly successful Arise Fashion Show 2021, as part of Dubai Expo’s Nigeria National Day events, which took place in Dubai, United Arab Emirates. The show captivated the audience with the dynamic creativity and innovative styles of Nigerian fashion icons and pace setters.” Therefore, she said ENEX 2021 had been designed to draw the attention of stakeholders to nation’s creative, cultural, entertainment and tourism sectors, with emphasis on women and youth, and the potentials of the sectors they operate in. Katagum said this is expected to assist the players to build capacity in their respective businesses, as well as show them the various ways that they could turn their

simple arts and skills into high revenue earners as well as draw the attention of the world to the fact that Nigeria has a lot of untapped potentials where investments can be made with high returns. She added that the exhibition further provides an opportunity to appreciate those who have in the past, persevered in the promotion of these sectors, without much encouragement, pointing out that some of these pacesetters will be recognized and appreciated during the entertainment events. She said at the end of the one-week event, a platform will be launched to provide master classes in business development for interested stakeholders. She said, ENEX 2021 was deliberately geared towards creating a support vehicle and platform for the promotion and

marketing of Nigeria’s growing multi-billion–dollar Micro, Small and Medium Enterprises (MSMEs) in the creative, cultural, entertainment and tourism businesses. The minister said, “The future and prosperity of our nation are in our collective hands, as it is what we have in our hands that we will use to break the cycle of poverty into prosperity. We have no other country than Nigeria, and only Nigerians can truly build the nation of our dreams. “This was why the Federal Ministry of Industry Trade and Investment was very eager to collaborate with the Welcome to Nigeria Project (W2NP) and several other actors in the public service, in shining the light on the business opportunities that abound in the Creative, Entertainment, Cultural and Tourism industries.”

WITH SDF IMPACTING PROFITS, BANKS’ DEPOSITS WITH CBN DROP TO 10-YEAR LOW OF N2.5TRN interest income of the banks decline as the rate on T-bill and bonds dropped for the first six months of this year. If banks had granted loans to real sector as directed by CBN, they could have charged higher interest and generated more money. “Mind you, the risk of lending to the real sector is high even though the CBN wanted them to lend. Most of the banks are very sceptical lending to the real sector.

The SDF policy introduced in 2019 is a very good policy but unfortunately, the operating environment does not support its impact.” Analysts at CSL Stockbrokers Limited in a report had said, “In our view, measures such as these fail to address the fundamental issues behind banks’ reluctance to lend and would only result in banks looking for innovative ways to get around the rules.

“The low-risk appetite among banks for lending to the real sector can be attributed in no small measure to the high risks in the operating environment which hinders the survival of SMEs and the profitability of businesses in general. Also, the absence of reliable credit history and effective institutions also hinder banks from lending to the real sector. “Consequently, banks prefer investing a huge chunk of their liquid

assets in government instruments given that they do not have Capital Adequacy Ratio (CAR) implications, are tax-free and do not result in Non-Performing Loans (NPLs)” The bank had when issuing the guideline said, “With reference to the circular to all banks and discount houses, Re: Guidelines on accessing the CBN Standing Deposit Facility, Ref: FMD/DIR/GEN/CIR/05/020 and dated November 6, 2014, after

further review, the remunerable daily placements by banks at the SDF shall not exceed N2billion. “The SDF deposit of N2billion shall be remunerated at the interest rate prescribed by the Monetary Policy Committee from time to time. Any deposit by a bank in excess of N2billion shall not be remunerated. The provisions of this circular took effect on July 11, 2019.”

T H I S D AY ˾ WEDNESDAY, DECEMBER 8, 2021

BUSINESSWORLD

BANKING

Unity Bank’s CAR Hits -101.3% on Basel III Guidelines Commencement

Nume Ekeghe

ollowing last month’s commencement of the new Basel III regulatory framework, it has emerged that Unity Bank Plc is currently in negative territory in terms of regulatory capital (CAR and CET1) ratios for banks with national license as at H1 2021. With a -101.3 per cent in the red, the bank is hastily in need of capital injection to meet with the regulatory requirement. The Basel III policy states that the capital buffers shall be in the form of Common Equity Tier 1 (CET1) and should be above the minimum CET1, Tier 1 and Total Capital Adequacy levels and that the capital buffers shall comprise the sum of the Capital Conservation Buffer (CCB1) of 1.0 per cent of TRWA; and a Countercyclical Capital Buffer (CCB2) of between 0 per cent to

2.5 per cent of Total Risk Weighted Asset (TRWA), as may be determined by the CBN based on the prevailing economic and industry circumstances. Banks are expected to face greater disclosure requirements under the new regime to facilitate effective monitoring by the regulator and ultimately to engender transparency. This may however significantly increase regulatory costs for banks especially during initial implementation. Data from Meristem Securities Limited’s Nigerian Banking Sector regulatory update titled, “A peek into the new Basel III guidelines,” showed majority of the banks are safe within the requirements but noted that Unity Bank is in despair. It states: “Our estimates show that the majority of our coverage banks are in relatively good- standing per capital

requirements. However, FBNH, UBN and Wema Bank are borderline compliant in terms of regulatory capital (CAR and CET1) ratios and thus need to shore up capital. “Unity Bank is currently at a negative equity position and requires substantial capital injection to meet up with the regulatory requirements. We think that strength of capital adequacy will determine future competitiveness and thus, we generally expect banks to take necessary steps to boost regulatory capital regardless of current standing.” A few banks have recently raised funding to support capital base. Access Bank Plc rasied $500 million via the issuance of five-year Eurobonds Tier II capital and perpetual bonds which qualifies as Additional Tier 1 capital. Also, both United Bank for Africa Plc and

Fidelity Bank Plc successfully issued Eurobonds qualifying as Tier II capital worth $300 million and $400 million respectively. The report further cautioned that the implementation of Basel III would have an impact on banks’ earning in the future. It stated: “The adoption of the Net Stable Funding Ratio (NSFR) will have a more drastic impact on the earning capacity of banks given the current funding structure in the industry. “Thus, we think that CBN may be cautious about implementing it at this time. More so, we posit that the CBN is treading the cautious path followed by other countries, including Switzerland and the USA, which did not start implementation of the NSFR until recently in July 2021. Other countries that are yet to implement this requirement till date include the United Kingdom, which would commence implementation in 2022 and Japan.”

Faymi Calls for Collaboration Heritage Bank to Disburse as BoI Disburses N19.7bn to N41bn for Wheat Production 3,000 Enterprises in 3 years The Bank of Industry (BoI) has disclosed that it has disbursed N19.7 billion to over 3,000 enterprises in the South West region in the past three years. Also, the Governor, Ekiti State Dr Kayode Fayemi has urged the Bank of Industry (BoI), to partner with the state to move farmers from subsistence farming to commercial and agro-processing levels. Fayemi also called on BoI to explore the knowledge economy, which is one of the pillars of his administration, for investment. The Governor stated this at the weekend, during the official opening of the Ekiti branch office of BoI in Ado-Ekiti. According to the governor, Ekiti has demonstrated its commitment to ease of doing business, adding that, “our vision is to make Ekiti a destination of choice for investment by providing an enabling environment to Small and Medium Scale Enterprises. In his remarks, the Managing Director of BOI who was represented by the Executive Director, Corporate Services, Jonathan Tobin said that, through the bank’s matching fund partnership with Ekiti state, which was signed in March 2010, with a total fund size of N200m, it has been able to create loans worth N167m with thousands of direct and indirect

jobs created in the process. “The objective of this initiative is to partner with state governments towards supporting micro, small and medium enterprises in such states, by each party setting aside equal amounts of funds. Bank of Industry has a long-standing relationship with Ekiti state, as the state is one of our earliest strategic partners with respect to our matching fund initiative. His Excellency, the Governor in his magnanimity, offered us a free office location for temporary use, within the central business district of the state capital, Ado-Ekiti, along secretariat road. “The last 18 months or so have been particularly challenging for businesses, especially MSMEs in Nigeria and all over the world, on account of the COVID-19 pandemic, which ultimately led to an economic recession last year. “Thankfully, we just celebrated a fourth quarter of consecutive GDP growth, with Q3 of 2021 recording a growth of 4.03 per cent. Our branch expansion strategy is supported by the fact that entrepreneurship creates employment and income opportunities, and therefore are major drivers of poverty reduction and economic development. Also speaking at the occasion, the Minister for Industry, Trade and Investment, Adeniyi Adebayo, said

that the Bank of Industry has done significantly well in supporting the industrialisation strategy of the Federal Government across various sectors and business segments in Nigeria. “As we all know, the economy of Ekiti state is largely driven by the value chain of the agricultural sector. Agriculture provides income and employment for more than 75 per cent of our population. We are well known for cultivating cash crops such as cocoa, oil palm, kolanut, plantain, bananas, cashew, citrus and timber, in addition to food crops such as rice, yam, cassava, maize and cowpea. “One of the key mandates of the Bank of Industry, which is in harmony with both the Ekiti State Industrial Development Strategy as well as the Federal Government’s economic plan is to support value addition and processing of primary commodities, especially agricultural and mineral produce through the provision of financial and business advisory services. “I am therefore optimistic that the opening of this new office would positively impact the economy of our state, as they are positioned to support the processing of our cocoa to chocolate; our oil palm to palm oil production; our cassava to ethanol, starch, garri and so on”, he added.

Heritage Bank Plc in partnership with the Central Bank of Nigeria (CBN) is set disburse N41billion to farmers from 14 states for the expansion of wheat production. Heritage Bank in a statement noted that they will register the wheat farmers with the Lagos Commodities and Futures Exchange (LCFE) for successful disbursement and that the farmers are expected to cover about 111, 025 Hectares of land to attain huge milestones in wheat production. The Managing Diretor/ Heritage Bank, Mr. Ifie Sekibo in a statement noted that the partnership is to consummate Wheat Seed Multiplication Project under the CBN’s Brown Revolution Initiative, in order to ensure due diligence on loan administration, monitoring and recovery, which would bring about increase in the domestic production of wheat and close the wide supply gap in the Nigerian agricultural space. He states: “We are working with about 30 firms focusing only on seed production and also working with CBN to make sure we register all farmers. We believe working

with LCFE will move Nigerian farmers from informal approach to a structured approach.” “We decided to focus on the dry season which comes naturally to our people. As a bank, we are working on two things; one is to ensure the continuous multiplication of seeds and the other is to focus on the grains.” Sekibo affirmed that the scheme would help reduce the nation’s food import bill by increasing wheat production, create market linkages between smallholders farmers and Anchors/Processors, create an ecosystem that drives value chain financing, improve access to credit by the smallholder farmers by developing credit history through the scheme and many more. Former Executive Director of Lake Chad Research Institute (LCRI), Dr. Oluwasina Olabanji commended Heritage Bank for its efforts in reducing wheat importation and saving the country from the $2 billion spent annually on the importation of wheat. He called on other banks to emulate the lender in efforts

to achieving wheat sufficiency in the country. “If this money is saved it could be used for infrastructural development. It is true that there are a lot of linkages not only on financial institutions but also in the value chain, these linkages have been molded together with the intervention of Central Bank of Nigeria and Heritage Bank,” he said. He explained that the CBN and Heritage Bank’s intervention have become critical due to the high demand for wheat in Nigeria and the inability to meet that demand. Speaking also, the Managing Director, LCFE, Akinsola Akeredolu-Ale, commended the CBN and Heritage Bank for their support, saying that their contributions have leveraged Nigeria to be on the right track for self-sufficiency in food production. He said the commodity exchange in partnership with Heritage Bank would provide an enabling environment for farmers, warehouse owners, commodity middlemen and commodity merchants, to be able to trade Wheat.

WEDNESDAY, DECEMBER 8, 2021 ˾ T H I S D AY

BUSINESSWORLD

MONEY

Transforming Nigerian Football into Money Making Industry A PWC report estimated that in 2015, global sports sponsorship reached $45billion while Africa contributed less than $2billion, with South African companies dominating. Ugo Aliogo writes on how a brand, Budweiser is changing the narrative by turning Nigerian Football into a money making industry

L-R: International Football Legend, John Terry, Marketing Director, International Breweries Plc (IBPLC), Tolulope Adedeji and International Football Legend, Roberto Carlos, at the Budweiser Game of Kings Legends and Managers unveiling Press Conference in Lagos… recently

port is a universally loved sector that is lucrative and a source of employment to thousands, recreational, and huge support base for millions of fans world wide. Neither the government nor the sports agencies working under it can resolve the issues militating against the sports sector alone. The sector’s major problem has to do largely with funding. In Europe and other western parts of the world, sport is a multi-billion dollar business. These climes have been able to incentivise the sector to attract the corporate world to invest and even play major roles that have created jobs for citizens and foreigners alike. Nigeria’s Minister of Youth and Sports Development, Sunday Dare has on several occasions acknowledged that funding is the major problem of sports development. According to the minister, “Funding is a major hindrance to sports growth. We look forward to corporate bodies lending support and developing the sports. We want to see corporate organisations come to build stadia and invest in sports. We intend to harness the talents and build technical capacity. We want to build a business model around sports because sports is a big business in the western world and we intend to make it a big business in Nigeria.” However, brands like Budweiser, through its just concluded and massively successful Game of Kings Campaign that had international football superstars, John Terry and Roberto Carlos play alongside select Nigerian Professional Football League (NPFL) players on Nigerian soil, are changing the narrative. Marketing Director, International Breweries Plc, Tolulope Adedeji agrees that sports promotion is a capital intensive venture even for corporate organisations and conglomerates that are perceived to have huge marketing budgets. She however noted that the Budweiser Game of Kings Campaign was worth it because it achieved the twin purpose of beaming the spotlight on Nigerian football and the talents that abound in

our local league to the international community. The campaign, she stated, leveraged the undeniable star power of Terry and Carlos while also affirming Budweiser as a premium brand that employs unique ways to delight its teeming consumers. According to the Minister of Sports, Nigeria will require no less than $500 million annual investment in sports to deliver sector dividends. Leveraging brand engagement and sponsorship to surpass investment targets in sports is the way to go. Countries across the globe are thriving on brand sponsorships, sweepstakes and international support, amongst others which have also helped increase their performance rating among contemporaries, in addition to spurring economic growth. In Europe for instance, sports alone accounted for an overall Gross Value-Added figure of 294.36 billion Euros (2.98%) in the economy for 2012. Lately, global investment in sports has recorded huge growth with Africa still at the bottom of the ladder. Many indigenous brands are taking the lead in improving Nigeria’s sports story, they are relentless in making the industry be at par with counterparts across the globe. Regarded by many as the king of sports, football has been the greatest beneficiary of corporate support. Brands like MTN, Coca-Cola, Globacom, Hero, Stanbic IBTC, and Budweiser are popular in this regard because of their consistency in promoting sports activities, especially with

football being the mainstream game. A PWC report estimated that in 2015, global sports sponsorship reached $45billion while Africa contributed less than $2billion, with South African companies dominating. Notwithstanding, Budweiser, a product of International Breweries Plc, a proud part of the world’s largest brewer, AB InBev, is moving the needle on transformative opportunities in sports, especially football. This model, proven highly beneficial to both the company and the country at large, is worth emulating, particularly for brands willing to tap into the sports goldmine. Since it entered the Nigerian market in 2018, Budweiser has been able to carve a niche for itself in the football space. Already, the brand is the key sponsor of the English EPL and the Spanish La Liga, and from current indications, the brand has now turned its focus on strengthening local football. As a norm, Budweiser has consistently supported initiatives and innovations to stimulate interest in football, in the drive to promote the game loved universally. One of such initiatives is the Budweiser Game of Kings. The ‘Budweiser Game of Kings’ campaign engaged football fans and put their knowledge of the game to test. The campaign encouraged football fans to take up the role of a Team Manager for selected stars from the Nigerian Premier Football League, among which featured international football legends, former England and Chelsea centre-back, John Terry, and

“The value chain of the game is huge as the activities during the period affects different sectors of the economy. One is football tourism, as we ﬂew in two football legends and their management into the country.”

ex-Brazil and Real Madrid left-back, Roberto Carlos. On how consumers participated in the campaign, Marketing Manager, Budweiser, Olajumoke Okikiolu said, “Our football-loving consumers bought a bottle of Budweiser and entered the unique code under the crown cork on the website to the USSD Code: 7827. This automatically qualified them to be selected either as team managers or to get VIP invites to watch the match live in Lagos, Nigeria.” Okikiolu stated that the campaign was structured to enable Nigeria’s teeming football fans who are usually critical of football managers to feel the heat the latter always have to contend with and demonstrate that they can do better if given the opportunity. “They got to appreciate the amount of pressure team managers face,” she said. But beyond the fun of the game, which is a major element of football, Okikiolu submitted that the campaign would drive the economy to buoyancy. “The value chain of the game is huge as the activities during the period affects different sectors of the economy. One is football tourism, as we flew in two football legends and their management into the country. People were eager to get a chance to see these great football icons on Nigeria’s turf, “Okikiolu added. The consumers demand increase in product purchase shored up profit, and inevitably, increase in taxable income. The benefits trickled down to the wholesalers and retailers who realised more turnover from the increased demand influenced by the promotion.” John Terry and Roberto Carlos captained Kings FC and Smooth FC respectively and led the NPFL stars to play against each other in an exciting game that has been described as “an unprecedented epoch for Nigerian football”. Football, and indeed sports needs more brands to tow the path of Budweiser and heed the clarion call from the sports minister and the sports sector considering the unifying role football continues to play in the world.

T H I S D AY ˾ WEDNESDAY, DECEMBER 8, 2021

BUSINESSWORLD

INSURANCE

As Revenue Ofﬁcers Hijack Third Party Motor Insurance Efforts by insurance industry operators to reduce the number of vehicles plying Nigerian roads without the compulsory Third Party Motor Insurance, ensure motorists have genuine insurance cover is currently suffering a major set back due to unwholesome activities of internal revenue officers in various states; writes Ebere Nwoji

nternal revenue departments of various state governments have allegedly hijacked the sale of vehicle third party insurance cover without proper remittance of appropriate premium to insurance companies that would give adequate coverage to the insured vehicles. Similarly, some state governments have removed Third Party motor insurance from the list of documents their commercial motorists must renew. Industry observers said the compulsory third party motor insurance business has been so abused that whereas the official premium for the policy is N5000, internal revenue officers in various states decide how much they collect from motorists along other payable taxes and remit any amount they like to insurance firms. On their part, the insurers have insisted that any Third Party motor insurance certificate purchased at less than N5000 is fake and has no insurance coverage. Statistics from Nigeria Insurers Association showed that out of 16 million vehicles plying Nigerian roads, only four million have genuine insurance cover while 12 million have no insurance cover and fake certificates.

KADUNA STATE EXPERIENCE

Just last weekend, the Kaduna State Internal Revenue Service (KADIRS), said it has removed third party insurance in the registration and renewal of commercial vehicles’ documents from its coverage, saying this was due to the N5, 000 premium tagged on the policy by the insurers which was said to be too expensive compared to N1, 500 paid in neighbouring state. A report by an online newspaper, said that the Executive Chairman, KADIRS, Dr. Zaid Abubakar, made the announcement in Kaduna during the sensitisation of taxpayers in Kaduna Central Senatorial zone. According to the online news medium, Abubakar had explained that the compulsory third party insurance was paid at the same time as motor vehicle registration, adding however, that mainly private vehicle owners renew their vehicle documents in

the state while commercial vehicle owners go to other states for renewal. He said that commercial vehicle owners preferred to register and renew their vehicle documents in neighbouring states where the cost of third party insurance was lower than what obtained in the state. “If the compulsory third party insurance will be a hindrance to tax collection and revenue generation in any way, we can do without it. This is very disturbing because these commercial vehicle owners conduct their business in Kaduna State but would rather renew their vehicle documents in other states. “Therefore, we are taking off the third party insurance in the registration and renewal of vehicle documents for commercial vehicles. Following the removal of insurance in vehicle papers renewal, I am urging all commercial vehicle owners to renew their vehicle papers

in Kaduna State. This will enable the state to optimise revenue generation from motor vehicle registration due to the state,’’ Abubakar said. The report said in his reaction to this, Secretary, Road Transport Employers Association of Nigeria (RTEAN), Kaduna State, Mr Suleiman Shaba, lauded the gesture saying the step would encourage renewal of vehicle papers in the state. Shaba acknowledged that most of the members travelled as far as Jigawa, Kano and other neighbouring states to either register new vehicles or renew expired papers.

REMOVAL OF INSURANCE COVER

He said that some of the members who preferred to go to other states argued that the N5, 000 charged in Kaduna State was too expensive compared to the N1, 500 or N2,

000 for the same insurance in Jigawa. “Now that insurance has been taken off, we will encourage our members to renew their vehicle papers in Kaduna state,” he promised. Efforts by THISDAY to speak to the Chairman umbrella body of insurance underwriters in Nigeria, the Nigeria Insurers Association (NIA), Mr Ganiyu Musa, yielded no result as his phone was switched off but NIA spokesman and Controller /Head Human Resources, Mr Davis Iyasere, said sale of Third Party Motor insurance has been hijacked by officials of internal revenue of various states except Lagos. He said NIA has been dialoguing with them, especially on the need to ensure that adequate premiums were collected to ensure that insurers give adequate coverage to motorists but that they preferred to collect any amount they decided and which the motorists agreed to pay, remit any amount they decided to the insurers and keep the rest. Asked if the motorists were covered with the amount the officers were willing to remit to the insurers since the official rate for the policy is N5000, he said, “You yourself can answer that question”.

STOPPING FAKE OPERATORS

THISDAY findings reveal that while the insurers through NIA have in the past nine years been struggling to stop the activities of fakers of Third Party Motor insurance through the launch of the Nigeria Insurance Industry Data base (NIID), their major set back in achieving success is the activities of officials of internal revenue of various states who insist on collecting premium on Third Party Motor insurance just the same way they collect other taxes and issue certificates to the motorists. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY DECEMBER 8, 2021

EDUCATION Taming Corruption, Violence in Nigerian Schools With the increasing rate of corruption and hostility in the society, which has filtered into the education system with grave consequences, experts have called for reorientation across the board, stringent punitive measures in schools, and the overhaul of the curriculum to integrate morality education at all levels. Uchechukwu Nnaike reports

Buhari

Minister of Education, Mallam Adamu Adamu

he focus of insecurity and violence in schools seems to have shifted from the bandits and insurgents’ attack on schools and abduction of students. A teacher at Army Children High School, Epe, Lagos, Ahmed Saheed, was reportedly shot dead by one of his students who he flogged. Also, a final year Microbiology student of the University of Ilorin, Salaudeen Waliu Aanuoluwa, allegedly beat a female lecturer, Dr. Rahmat Zakariya, to a coma over a minor disagreement. Another case of unruly behaviour by students made the Ogun government direct 12 schools proceed on compulsory holiday from November 30, ahead of the December 10 vacation date. Students of the affected schools were said to have engaged in riotous behaviour, including physical assault on teachers and fellow students. The most disturbing case of a violent attack is that of the late Sylvester Oromoni of Dowen College, Lagos, who five students allegedly assaulted for refusing to join a cult. Unfortunately, the incident claimed the boy’s life. Several cases of bullying go unreported, especially in primary and secondary schools. Research shows that more than one out of five students report being bullied in their lives. Victims of bullying suffer physical, emotional or psychological trauma, which can lead to depression, and in some extreme cases, suicide. The moral decadence in the education system manifests in other forms like cultism, examination malpractice, sex for grades, sexual assault, indecent dressing, among

others. Student cultists wreaked havoc in universities for many years through constant clashes among rival groups. Their activities always led to the loss of lives and destruction of property and disruption of the academic calendar. Cultism has also filtered into secondary schools, perhaps to groom the teenagers for membership of university cults. In some cases, sexual assaults are perpetrated by teachers and lecturers. There have been several cases of primary and secondary school teachers sexually abusing minors under their care. In higher institutions, some lecturers are notorious for demanding sex for grades. They frustrate students who are bold enough to refuse their advances by making sure they spend extra years retaking a course. Several factors are responsible for the rate of immorality and violence in schools. Delivering the Faculty of Arts Distinguished Professor Lecture Series of the University of Lagos titled ‘Is It Leadership or Character?, Prof. Jim Unah stated that the reality of modern-urban living has made parents transfer their responsibility to specialised institutions. He added that the responsibility has also been unintentionally transferred to the media in recent times. “The former, that is, in the reconstructed, semi-conscious process of transference, attention was given

to the intellectual aspect of a child’s development to the utter neglect and detriment of the moral side, which got ( and still gets) little or no mention in the curriculum of modern African schools,” the university don said. Consequently, he said the country now has a generation of largely intelligent young people who are morally hollow. “When, therefore, these younglings mature and rise, by virtue of their intelligence, to become political and business leaders, they are unable to be upstanding morally against the alluring blandishments of nepotism, corruption, and official graft.” A school director, who spoke on the condition of anonymity, blamed parents for some of the negative attitudes that children bring to school. He said about 50 per cent of parents are permissive parents with bad parenting styles whose notion about discipline differs from that of the school. He also attributed the moral decadence to absentee parents who think their only duty is to pay their children’s school fees and other school supplies. The director said the school would do its best to train such children whose behaviour has been shaped by their exposure to the internet, peer group, and domestic staff. To win the war against moral decadence and violence in schools, experts say parents have the bulk of the responsibility because, as their children’s first teachers, they must instil the right values in them in their

formative years. Parents are also advised to participate in all activities at their children’s school and inspect and assess their academic performance at all times. Whenever any change is noticed, they should find out the reason for the change and work with the school to help their children out of any challenge they may be facing. Other educators also called for close monitoring of students’ activities, especially in boarding school hostels where most violence happens. CCTV cameras should be installed, and reported cases of bullying or any form of maltreatment by fellow students should be properly investigated, and the culprits punished accordingly. Stakeholders have also suggested periodic value reorientation programmes for all staff and students at all levels of education. This programme, they said, should be reinforced by taking an oath to always be of good conduct and for the institutions to take the necessary action against them when their actions contradict the oath. Schools were also advised to have adequate measures to ensure that students only use the internet for educational purposes. On his part, Unah called on philosophers, scholars and researchers to arise and take the teaching of moral character to the primary and secondary schools. He insisted that the introduction of virtue ethics inclusive of creative, logical critical thinking that promote sound moral character into schools curriculum should become an imperative and a UNESCO benchmark for developing African societies.

Caritas Registrar Blames Politics for Nigeria’s Education Collapse Gideon Arinzeh in Enugu

Registrar of Caritas University Enugu, Maurice Onwuka, has said that politics is the major contributing factor to the gradual collapse of the education system in Nigeria. He made this known at the end of a two-day retreat and

retirees send-off organised by the Association of Nigerian University professional administrators (ANUPA), University of Nigeria, Nsukka branch. According to Onwuka, Politicians in Nigeria often put-up structures anywhere and call them universities without following the process involved and considering

the necessary ingredients that will make it successful. Some of the effects of the politicisation of the university system in Nigeria are the endless wave of strikes, the inability of universities to compete favourably with other universities in other climes and the poor quality of students, according to him.

He noted that the lack of training for staff of universities in the country is another challenge that is further contributing to the system’s decline because they are unable to keep up with the trends and have nothing new to offer the students. “Poor funding is another challenge our universities are having to

deal with,” he said. “Our students are suffering as a result of this, the lecturers are not catered for, our libraries are in bad shape.” He explained that Universities, unlike other institutions, require years of research and consultations, hence the need for politics to be separated from the establishment of universities.

T H I S D AY ˾ WEDNESDAY DECEMBER 8, 2021

EDUCATION

Wahab: How Investing in Education Can Transform Nigeria Adetokunbo Wahab is the Special Adviser to the Lagos State Governor on Education. In this interview with selected journalists, including Funmi Ogundare, he highlighted the efforts his office has made to ensure that it puts education on a good pedestal through investment in information technology and partnership with other government agencies. He said with consistency and eyes on the goals, and the result would transform the country’s economy. Excerpts:

onsidering the various initiatives by the Ofﬁce of the Special Adviser on Education, which you head, how were you able to bridge the gap on infrastructure? There is a fund under OSAE called Education Trust Fund. The trust fund is an intervention such that where there are gaps in infrastructure in our public schools, you can intervene using the fund in question. So what we did last year was see how we could help bridge that gap. It is not something we do in isolation, but it requires us to go to EXCO to seek their approval with respect to infrastructure in some of our schools. We also carry along with the Lagos State Infrastructure Asset Management Agency (LASIAMA). This is to augment what the ministry and Special Committee on Rehabilitation of Public Schools (SCRPS) are doing on their own. Interestingly, we also intervened in Lagos State Technical and Vocational Education Board (LASTVEB), which means we touched technical colleges, which has to do with equipment and creating more physical infrastructure for them. I know that is almost completed now because it is supposed to last for 18 months. For that of SCRPS, it is supposed to be 11 or 12 schools, while for LASIAMA, it is about nine. In total, it is about 25 that we covered. SCRPS is a special agency for the rehabilitation of public schools. LASIAMA is for upgrading and maintenance of schools. So we had to get the three involved through OSAE using the education trust fund to intervene. What interventions have your ofﬁce carried out so far? We are very deliberate in our approach. The governor wants Lagos to be a 21st-century economy, and he is laying the fibre optic across the state. Fibre optic means there will be internet infrastructure. OSAE do have the mandate with respect to the library. We have done our study, and we found out that over time, the reading culture has dropped drastically, and if we don’t create an enabling environment, we will not have any moral justification to blame these children for not having a reading culture. So we decided on two options. The first one is to have 11 libraries which we have made 12 now across the state. Are they enough? No. We have over 700 public secondary schools, and we decided to go directly to the public secondary schools to revamp the library infrastructure by giving them new ones and equipping them with books and IT infrastructure to complement the books, as well as make it conducive for them. That is why you see us putting air conditioners and generators. The governor has increased the maintenance for each principal to N250,000 a month from the paltry N25,000 we met. We have not been able to cover all the schools. In two and half years, we have covered 198 schools across the state. Hopefully, before the end of the year, we are going to add about 45 to it to cross the over 200 line. This is still a far cry from the total number of schools we have to do, but a journey of a thousand miles starts with a step, and we are very clear in our minds. The second leg of it is the Eko Digital Skills which is to prepare students and pupils for the fourth revolution which is IT. Covid has shown us that it is here already. That will give you the skills set you need for that revolution. The language of the revolution is Cloud, Coding, Python and digital skills language. We were targeting a million. Under the Eko Digital, a total of 194,161 youths, students/ pupils have benefitted in the last two years, but it is still a far cry. As it were, we are ploughing back the space and preparing the students for that. We are giving them a library intervention with computer infrastructure, we are also giving them the know-how with Eko Digital where we are covering the 700 public schools, we ramp them up even with private schools, and we don’t want that gap to be too wide. We have students at a young age who are ready for the future. To complement that, we have our Job Initiative Lagos (JIL) for those in tertiary institutions. The skills set is also being taught

It’s for three months. And once we are done for the first session, we now go to the hybrid, which is another three months for those that are out of school. We now go back to the school again for phase three, which is in-school. What do they learn? They do clouding, Phyton, coding, digital analytics, among others. The CBN recently came up with an intervention on schools and students. Is the Eko Job Initiative getting its participants to tap into the project? When the information came out, I made sure I sent it to our tertiary institutions and ensured that the mandate was there. But if you look at the publication, it’s also limiting it to certain institutions. It is not generic. It is not all our schools that can take benefit of it, but those that are allowed to take benefit of it are fully involved, and that is where our Job Initiative Lagos (JIL) comes. You can’t go outside your school. That is why we are using the school, and they are fully involved in the JIL. So we are on top of it.

Wahab in our job initiative Lagos. It used to be called ‘Ready Set Work’. We rebranded it and put it in the proper contest. We now added penultimate year for the final year students because we have a large number in our school. So far, over 60,202 undergraduates in their final year and penultimate classes have benefitted. The earlier you start putting them into the system, the better for all of us. That is where we are so far. The schools you covered, do they have the ﬁbre optic? When the fibre optic is fully ready and launched, it now becomes a plug and plaything for them. They will go live with it. How do you intend to match the digital skills initiative with the high unemployment rate in the country? Ordinarily, the government should not be the employer of labour. The government should just set the tone and enabling environment for the private sector to offtake. So what we are doing is giving them the requisite skills and knowledge that would enable them to be employable in that market. Don’t also forget, thousands of people also come to Lagos to chase their dreams. Each day they come, they add to the numbers. Most of them that come have nothing to do. For us, let’s keep ramping up the infrastructure in terms of human capital and giving them the platform to enjoy it. What are the programmes students can learn under the Eko Digital skills programme? We have two streams. We have the eschool for our pupils in secondary schools and private. We also have the hybrid. The hybrid is if you are out of school and you need a skill set, you can register for that.

How would you rate the outcome of these programmes in the lives of the youths? Are we improving a lot? Yes. Investment in human capital, especially in education, you don’t reap the result overnight. It is a long term investment with a long-term gestation period. When the results come in, they should come in phases, and then you can start taking stock. You can’t take the stock within the first few years, and it will not stop you from doing the right investment. We will have the report by the end of this year. The Eko Digital initiative is ongoing as we speak. The final phase for the year is that they will give us full data on completion, item by item. It’s one thing for the state to invest in such a project. How would you describe the acceptance rate of those you are investing in? It’s very high. In fact, it’s usually oversubscribed, which is the interesting part of it. This is why we have to increase it to three sessions in a year. When we started, it used to be one. We now realised that when we had the subscriptions, a lot of people were not happy because they could not be taken on board as there is a limit. So last year, we made it two. This year we made it three sessions to cover everybody. The level is that if you were not able to come in for the first one, you could come in for the second one after the hybrid. So the subscription and over-subscription give us the conviction that people are so conscious of it, they are waiting for it, and they are enjoying it. The next phase is that how do we now take stock of the impact? That will come with time. How long does a session last?

We have done our study and we found out that over time, the reading culture has dropped drastically and if we don’t create an enabling environment, we will not have any moral justification to blame these children

How do you prepare the students for the work environment? What we did with that is using our Lagos State Employment Trust Fund to create a platform in which they can access the facility and single digits. For those that are ready, we refer them to the LSETF. Though we have a lot of issues with the number of defaults, the governor believes that it will be remedied as time goes on. You can’t say because they are defaulting, then you will not empower the citizens. Is there any effort by your ofﬁce to expose older people to digital literacy at that level? The mandate of the Agency for Mass Education is to increase the literacy number. Are we limiting to just reading and writing, which is their main goal. No. We have told the agency to give us a platform for them to put this into their curriculum. Digital literacy is a curriculum thing, and that is ongoing too. You can’t do it on your own, else it will not be recognised, and they will not certify them. What is the correlation between digital skills and education? The two go hand in hand. If you look at the THEMES agenda of the governor, both enable each other. If you just limit yourself to reading and writing, with no IT knowledge, you will only limit your options. So technology will enable education a lot, and the governor is very clear. That is why the THEMES agenda shows the pillar of education and technology standing in the middle and marrying each other strongly. In that ecosystem, if you get it right as the governor has gotten it right, in the next few years, the result will be awesome for the state. People talk about Rwanda, with a population of more than 20 million that they are using the IT platform, but they didn’t get there overnight. If we are consistent with this IT investment, we can achieve these number of goals. There is a programme by the state. We are going to give seed money to innovators that are in that IT space that I know. We are going to fund incubators with over N400 million. We are not just funding regular education. We are also funding people in the IT space because that is what happens in developed climes. They can have ideas, and not the money, we are putting money behind them strongly, the same way we are putting money behind education, and by the time we get this balance right, you will be shocked what will happen. You have a lot of people that will come out to nourish the system. When this happens, then the economy can move forward because the prosperity of Lagos is the country’s prosperity. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY DECEMBER 8, 2021

EDUCATION

VC Calls for Developmentbased Education

L-R:The Corporate Aﬀairs Director, Nigerian Breweries Plc, Sade Morgan; the Managing Director, Hans Essaadi; Minister of State for Education, Chukwuemeka Nwajiuba; winner, 2021 Maltina Teacher of the Year, Abanika Taiye; and Chairman, Nigerian Breweries Plc, Chief Kola Jamodu during the presentation of the N6.5 million grand prize to the winner at the grand ﬁnale event held at Eko Hotel, Lagos... recently

Restoring Teachers’ Pride through Maltina Teacher of the Year Award Uchechukwu Nnaike

For many years, the welfare of teachers has always agitated the minds of well-meaning stakeholders, including the Nigeria Union of Teachers (NUT), demanding an improved welfare package for its members across the country. No development-minded nation will ignore the role of teachers in grooming future leaders and preparing future generations to be competitive in the global market. Teachers play a vital role in training, coaching, and determining the quality of education, which is critical to sustainable national development. They are regarded as the builders of the future and wealth of nations and therefore deserve to be encouraged and celebrated. But only a few organisations understand the critical role that professionally qualified and trained teachers play in the sustainability and future growth of the country. One of such organisations is the Nigerian Breweries Plc, which has organised the popular Maltina Teacher of the Year Initiative since 2015. The initiative, a brainchild of the Felix Ohiwerei Trust Fund, has provided a platform for exceptional teachers to be identified, showcased, and rewarded. It is also aimed at restoring the pride of teachers and the dignity of the teaching profession while demystifying the long-held belief that a teachers’ reward is in heaven. With prizes worth over N50 million annually, the Maltina Teacher of the Year has been rewarding commitment and diligence to duty by exceptional teachers wherever they may be in the country. This year, it was another

time to recognize teachers for their contribution to the education of Nigerian children. The 2021 overall winner, Abanika Taiye, alongside 32 others, was honoured for their exceptional teaching performance at an event that was graced by virtually all the stakeholders in the education sector. Taiye, a Basic Technology and Technical Drawing teacher with James Hope College, Agbor in Delta, emerged the winner of the 2021 Maltina Teacher of the Year at the grand finale held at the Eko Hotel and Suites Lagos. With his emergence as the winner of the seventh edition of the initiative, he will receive a total cash prize of N6.5 million (N1.5 million immediately and N1 million annually for the next five years) from the Nigerian Breweries – Felix Ohiwerei Trust Fund. Apart from the cash gift, he would also be rewarded with other incentives, including an all-expense-paid capacity development training abroad, a fully equipped computer laboratory or a six-classroom block worth N20 million to be built for his school in his honour by the Fund. Also, Isaac Terver Pev, a teacher at Government Day Secondary School, Yonko in Taraba, emerged as the first runner-up, winning N1.5 million. Margaret Ngozi Ofordum, a teacher at Government Science and Technology College, Garki, Abuja, emerged as the second runner-up, winning N1,250.000. Thirty teachers that emerged as state champions were also rewarded with N500,000 each. Speaking at the event, Vice President Yemi Osinbajo, represented by the Minister of State for Education, Chukwuemeka

Nwajiuba, lauded the company’s unwavering commitment to recognising and rewarding teachers through the initiative. He said the company’s support had contributed a lot in motivating the teachers in expanding beyond borders (as witnessed in the representation of Nigeria on the global stage) and reach their full potential. The Managing Director of the Nigerian Breweries Plc, Mr. Hans Essaadi, explained that the initiative was designed to recognise, celebrate and reward amazing men and women who through their daily work as teachers have contributed tremendously to building a solid foundation for society. “A good teacher inspires hope, ignites the imagination, and instils a love of learning – literally shaping and changing lives. As individuals, a great part of who we are today and what we have achieved in life can be traced back to the education we received from our teachers,” Essaadi in his welcome address during the event. Also speaking at the event, the Lagos Commissioner for Education, Mrs. Folasade Adefisayo, representing Governor Babajide Sanwo-Olu, commended the company for its relentless effort and tenacity in celebrating exceptional teachers through the initiative. He stated that such contribution would go a long way to improve performance among the students and motivate teachers generally to take pride in the profession. The Corporate Affairs Director, Nigerian Breweries Plc, Mrs. Sade Morgan, commended the invaluable contributions of teachers to shaping lives and grooming leaders. She said this year ’s edition

recorded an impressive 1,085 entries from 36 states, including the Federal Capital Territory. Chairman of the Jury, Prof. Pat Utomi, who commended Nigerian Breweries Plc for staying committed to the initiative, declared this year’s edition the best. He disclosed it was a tough challenge for the jury to arrive at the eventual winner from the top 10 finalists. According to Utomi, everyone who took part in the interview session had the chance of becoming the winner as they exhibited rich experience in teaching. Some of the dignitaries at the event included the Lagos First Lady, Dr. Ibijoke Sanwo-Olu, represented by Mrs. Mayowa Ikuforiji, Secretary to the Lagos State Government, Folashade Jaji, among others. Speaking shortly after he was pronounced the winner, Taiye thanked the company for restoring pride to the teaching profession by recognising and rewarding teachers through the initiative. “I feel elated and honoured to be crowned as the winner of the Maltina Teacher of the Year. I put in a great effort towards all I have done in the competition, and I hoped and prayed to win. But you know man wishes to be somewhere, but God takes one to the right destination at the right time,” he said. Since its inception, the Maltina Teacher of the Year initiative has produced seven grand winners, Rose Nkemdilim Obi, Anambra (2015), Imoh Essien, Akwa Ibom (2016), Felix Ariguzo, Delta State (2017), Olasunkanmi Opeifa, FCT (2018), Ezem Collins (2019), Oluwabunmi Anani (2020) and now Abanika Taiye.

The Vice-Chancellor of the Augustine University, Ilara, Epe, Lagos, Prof. Christopher Odetunde, says Nigeria needs to develop a holistic education system that will engender national development. He also said the current educational system’s weakness is not the students’ fault, but because the system does not make performance part of the measurement matrix for nation-building. Odetunde, who said this at the third convocation ceremony of the university, added that Nigeria could no longer be delusional about its education system but should take urgent steps to redress the situation. “The primary responsibility of all tertiary institutions is to develop a holistic education for national development. In furtherance of the above, AUI has made grant-writing a condition precedent upon joining our faculty, while we also encourage collaborative and industry applicable research. “Our research goal is to produce deliverables that our nation’s industries can tap into. Our government should be a government that challenges researchers considering the amount of funds our nation has expended on the educational sector since independence,” he said. While appreciating several development partners for supporting the institution, Odetunde solicited further assistance, saying as the university grows, with more courses being approved by relevant authorities, there

is a need for more facilities. He also called for the amendment of the law setting up the Tertiary Education Trust Fund (TETFund) to accommodate and assist private institutions. He opined that it would also encourage the promoters of such institutions. The visitor to the university, the Catholic Archbishop of Lagos, Most Rev. Adewale Martins, charged the graduands to be positive changes the country needs. “In Nigeria, we contend with a lot of challenges such as insecurity, hunger, poverty, among others. But you are the positive changes we need. Go out there and be that positive change. You must assess the future that is ahead of you, and the question is, what next?” He said. The Chancellor, Rt Rev. John Aniagwu, charged the graduating students to be ready to give back to society. He also admonished them not to lose contact with one another, saying they must stay in touch. The convocation lecturer, Mr. Edward Okpa, who spoke on ‘Attaining your dreams: What is your PHD’, said passion, hard work and dedication are important to making it in life. The best graduating student, Alinna Kingsley Obinna of the Department of Philosophy, while presenting the valedictorian speech, thanked the management of the school and the Catholic Church for their efforts at setting the students on the path of sound education and moral values.

Queen’s College Seeks Parents’ Involvement in Children’s Education Uchechukwu Nnaike

The Principal of Queen’s College, Lagos, Dr. Tokunbo Yakubu-Oyinloye, has advised parents to collaborate with the school in providing quality education for their children. Speaking at the matriculation ceremony of about 400 for the 2021/2022 academic session, the principal said aside from paying their children’s school fees, parents need to counsel and guide them. She advised parents always to assess their children’s performance when they return home to know their areas of strength and weakness. She said parents should also know who their children’s friends are because friends can influence them positively or negatively. She stressed that parents need to spend quality time with their children to get to know them better. “The school and the parents need to join hands to make sure that children are on the right path.”

To ensure that the new students toe the path of excellence, Yakubu-Oyinloye said the school would ensure that teachers attend classes promptly and cover the syllabus. She said the school also organised extra lessons, especially for exam classes, employing technology to aid learning. To ensure the all-round development of students, she said the school also ensures that the students excel in extra-curricular activities. The principal advised the new students to be focused, put in their best, ensuring they get all they can get out of the school. The guest speaker, Mrs. Ronke Jibodu, urged the students to dream big and make the best of their opportunities to succeed. The PTA Chairman, Mr. Adedamola Adewuyi, advised parents to upgrade their parenting skills to keep abreast of the peculiarities of raising adolescents. He also urged them to cooperate with the management to improve the existing standard of the school.

T H I S D AY ˾ WEDNESDAY DECEMBER 8, 2021

EDUCATION

Ighodalo, Sanwo-Olu, Want Curricula Security Institute Holds Review to Reﬂect Skills-based Economy Conference in Lagos Oluchi Chibuzor The need for a holistic and thorough review of education curricula across all levels in the country has been once more emphasised if the nation must find Its feet among developed economies. This, technocrats, academicians, policymakers noted, was necessary to reflect the realities of the 21st century that is technology-driven in line with innovation, vocational skills and entrepreneurship. At a stakeholders’ meeting at the Wellspring University, Benin, the university’s Chancellor, Pastor Ituah Ighodalo, maintained that no other thing was setting Nigeria backward but lack of knowledge. According to him, earmarking

a less than expected amount of money for education is a disservice to the country, noting, “No country grows or develops beyond its standard of education.” He affirmed that Wellspring was established to plug into the education sector to contribute its quota innovatively. “Education remains the bedrock of any society. Nigeria ought to be the hub of Africa’s ICT, Entrepreneurship and others. Today, it is laughable to claim we are a giant of Africa. Wellspring had come to change the ugly trend and narrative,” he stated. Speaking, the Vice-Chancellor, Prof. Rotimi Issac Ayaji, pledged to drive the innovation and mission of the institution by working harmoniously with the board and management

of the school. According to him, every student and graduate of Wellspring must be Information and Communication Technology (ICT) certified as entrepreneurship is compulsory irrespective of discipline. “Exams and scores are not enough. We need to pay attention to skills and make our students master the art of leadership, ICT/digital literacy, and other advanced applications to solve problems,” he said. “Our curriculum is on constant review to be skilled-based. We are promoting innovation and creativity. All our courses are accredited by NUC. We are sure that our graduates would be employers of labour, employable, problem solvers, transformational leaders, game changers and men

and women of character.” Former Governor Peter Obi of Anambra proposed handing schools over to the private sector for quality graduates. He also suggested that no politician should be given any award again until things get better for every Nigerian. “I did it in Anambra, and it worked. These awards do not solve the problems facing us. Let us fix the country first before awards,” he added. On her part, Lagos First Lady, Mrs Ibijoke Sanwo-Olu, represented by the Lagos State University’s Vice-Chancellor, Olatunji Ibiyemi Bello, charged Wellspring to be a breeding ground for micro, small and medium enterprises (MSMEs) for economic growth, development and sustenance.

Third left: Mr. Williams Udeme, the Greensprings School’s bus driver who got a special recognition award from Lagos State Driver’s Institute, with some staﬀ of the school

The Institute of Security, Nigeria, has concluded plans to organise its 14th annual security conference and investiture/induction on December 10-11 in Lagos. The two-day conference with the theme ‘Enhancing Integrity and Security Solutions to Election Threats and Political Violence in Democratic Environment’, will be a dialogue between institutions and experts in political, legal and security sectors. The Director-General of the institute, Mr. Adebayo Akinade, who announced this in Lagos, said the legal framework for election in the country appears to be deficient. He said there was a need for security agencies to step up neutrality to avoid aggravating tension. He noted that the first step towards ensuring successful elections is to improve security, which would involve strengthening the credibility of security agencies and other sister agencies. “Election security is issue of securing election through physical, personnel, information and election events, involving day of elections campaign and meetings,” stated Mr Akinade. “Security arrangements for election need to be improved, and security personnel should be better trained and guided to ensure that they act appropriately and respect the rights and freedom of voters, election monitors and journalists alike.” He noted that agencies also needed to develop better institutional arrangements to

secure elections, particularly by improving the capacity to inform, monitor and analyse threats. Akinade added that the conference, therefore, sought to deal with both the legal and security implications of all the activities of stakeholders in election matters. He mentioned the conference would also strive to provide clear insight into insecurity, election conflicts, political violence and the application of scientific and technological approaches to tackle challenges arising from election exercises. The director-general noted that striking a balance between the legal, scientific and diplomatic processes and procedures relating to a broad spectrum of contemporary challenges in election matters would also be discussed. He expressed hope that the conference would also stimulate creative, innovative, and critical thinking to enhance election systems and tackle related challenges. “This conference will also recognise the potential for capacity building, which will be borne out of sharing of ideas, lessons and others experiences among legal, political, security and protection professionals,” added Akinade. “We seek to also assess the current situation of the election system and the architecture in view to identify the gaps and overlaps between various architectural elements to proffer solutions to security threats and application of strategy of election system among others.”

VATEBRA Rewards Best Performing Candidates, Schools in WASSCE 2020 Govt Urged to Focus More

Mary Nnah

An ICT company, Vatebra Limited, in partnership with the West African Examinations Council, Nigeria has once again awarded scholarships to best performing schools and candidates in the West African Senior School Certificate Examination (WASSCE) for the 2020 academic year. The WAEC/VATEBRA Merit Awards, which held in Ibadan, Oyo State, is part of a range of corporate social responsibility projects aimed at giving back to the public, particularly in the academic domain. The awards were presented to the various winners at the

formal opening ceremony of the 59th annual meeting of the Nigeria National Committee (NNC) held at the Daylan Event Center Ibadan recently. The awards instituted and presented this year are based on these categories: best public secondary school in sciences: (Chemistry, Biology and Physics) in Nigeria; the overall best public secondary school in all subjects in Nigeria: the best overall female candidate in public secondary schools in all subjects in Nigeria;and the best overall male candidate in public secondary schools in all subjects in Nigeria. Winners of this year’s awards were presented with various

cash prizes. Ayebode High School, Ekiti State won the WAEC/VATEBRA Merit Award for best public Secondary School in Sciences in Nigeria and was presented a cash prize of N1.5 million. Community Secondary School, Abajah, Owerri. Imo State won the WAEC/VATEBRA Merit Award for Overall Best Public Secondary School in all subjects in Nigeria and got N 2.5 million. Furthermore, Okorie Devinefavour Nkechinyere of the Federal College of Education Technical Secondary School, Akoka, Lagos State won the WAEC/VATEBRA Merit Award for Best Overall Female Candidate in Public

Secondary Schools in All Subjects and got N500,000, while Adeosun Idris Ayotunde of Airforce Comprehensive School, Iyana Offa, Oyo State won the WAEC/VATEBRA Merit Award for Best Overall Male Candidate in Public Secondary School in all subjects and also got N500,000. Speaking at the event, the Head, Educational Bodies at Vatebra Limited, Oluwole Aduloju said “one major criterion to be met by winners of the WAEC/VATEBRA merit award is to be outstanding and be without blemish knowing that this driving principle also transcends from one of our organisational core value of excellence”.

University of Ottawa Opens Scholarship for Students The University of Ottawa, Canada, has announced scholarships for African students. The entrance and excellence scholarship will provide incoming students with a four-year scholarship to cover the partial cost of their university tuition. The renewable scholarship is offered to international students who are citizens of African countries admitted in the 2022 term (September start date) or later. Such students must have an admission average of 80

per cent or higher, who are studying in English, and who enrol in one of the specified undergraduate programmes in the faculties of Engineering, Science, or Social Sciences. According to the institution, the scholarship, which is a significant financial contribution to education, would help reduce the beneficiaries’ tuition fees by $17,500 to $25,000 for the excellence scholarships and by $12,000 to $20,000 for the entrance scholarships depending on the programme annually.

All students eligible for the scholarship will automatically receive it upon enrolment. It will be applied directly to their tuition fees. The entrance scholarship cannot be combined with the excellence scholarship for African students studying in English. According to a statement from the institution, “our scholarship programme is one of the most generous in Canada. It rewards your pre-university academic achievements and your achievements every term

of full-time study at University. The new scholarship will give African students studying in English access to numerous pilot programmes in three faculties for a significantly reduced cost of tuition. The statement added, “In a bid to assist students throughout the application process, the University of Ottawa will host a number of virtual sessions to answer questions and guide prospective students on the application process.”

on STEM, Manpower Uchechukwu Nnaike Stakeholders in the education sector have been urged to invest in much-needed infrastructure and manpower to boost Nigeria’s science, Technology, Engineering, and Mathematics (STEM). A group of panellists at the November edition of Ed-Tech Monday titled ‘Getting to the Root to Strengthen STEM’, stated this recently. The event, an initiative of the Mastercard Foundation, in partnership with CcHub Limited, featured panellists from academia and the private sector, was moderated by social engineering practitioner Joyce Daniel. Speaking during the panel session, the Dean of Life Sciences, University of Benin, Prof. Jerry Orhue, stressed the need to prioritise infrastructure and manpower to halt the decline in science enrolment in Nigerian institutions, especially in secondary schools. Though Orhue admitted that science education is capital intensive, he urged governments at all levels to return to the old days by focusing on science education for development.

“If we are serious about revamping science education, we need to go back to the basics. There is a decline in enrolment because the level of commitment on the part of the government in the areas of time and other resources required is dying,” he said. Also speaking, Ed-Tech entrepreneur and Founder Vinsight Technologies, Tomisin Kolawole, said there was a need for the sector to be restructured and reformed to pave the way for technological inclusion in the curriculum. According to him, more Ed-Tech entrepreneurs or start-ups need to be encouraged through policymaking to develop solutions to make STEM education attractive to young Nigerians. Programme Manager, Stemcafe, Elohor Udubrae, explained that having the right resources and enabling environment were pivotal to driving the growth of STEM education in Nigeria. “Beyond that, the content of those materials must be relatable and specific and relevant to our demography such that kids can compete with 21st-century learning,” she added.

T H I S D AY ˾ WEDNESDAY DECEMBER 8, 2021

CITYSTRINGS

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

Stridently Heading for Housing for All in Akwa Ibom Charles Ajunwa writes that the Completion Agenda of the Akwa Ibom State Governor Udom Emmanuel has continued to attract investments to the housing sector

ast and present leaders of Akwa Ibom State invested and continued to invest heavily on infrastructure in order to put the state in good stead with other states in terms of development indices. At the inception of his administration in 2015, Governor Udom Emmanuel keyed into the vision and dreams of the founders of Akwa Ibom, which was created on September 23, 1987, by former Military President Ibrahim Babangida. The Completion Agenda of Governor Udom is the magic wand as every sector in the state now has a facelift. Udom, whose body language clearly shows that he understands where the state should be in terms of housing, is not leaving any stone unturned. The governor is investing huge funds into the state’s housing sector as it has the capacity to stimulate economic growth. As part of activities to mark the 23 years of Akwa Ibom’s creation, Vice President Yemi Osinbajo was in the state last month to inaugurate some signature projects completed by Udom. While inaugurating a 21 storey building, the Dakkada Tower in Uyo the state capital built by Udom's government, the Vice President revealed that the federal government in the past six years sunk over N8.9 trillion in the infrastructural development of the country. Osinbajo who commended Udom for his leadership qualities, recalled how the governor in 2015 informed all that cared to listen about his vision to construct the tallest building in the South-south and South-east region in the state, which the Vice President said has become a reality today. “Today, I feel with joy and pride to witness the realisation of that dream to celebrate a commitment to excellence and vision represented in this 21 storey building. “But this building is not just the tallest in the south-south, south-east regions. It is certainly the latest in Nigeria and West Africa. “By the completion of the Dakkada Tower, it will definitely address the paucity of the world class office accommodation for both local and corporate international companies especially oil and gas companies. “With this development the big players in corporate Nigeria especially in the oil and gas industry should find it entirely auspicious to relocate their administrative headquarters to Uyo. “This Tower is a-state-of-the-art smart building combining architectural beauty with the latest technology developed for efficient and smart work place. “In my opinion the Dakkada Tower is to create the enabling environment for investment to thrive. Also the Dakkada Tower will complement government efforts at improving the standard of living in the state. “I am very proud of what my brother, governor Udom Emmanuel of Akwa Ibom State has achieved in his six years of stewardship as governor of this state especially with his industrialisation agenda. “Your focus on infrastructure development is significantly at one with the centerpiece of the federal government agenda,” Osinbajo stated. Osinbajo, who chairs the Economic Management Team (EMT), called on investors to invest in Akwa Ibom where the federal government has come up with policies and programmes to make it an investment destination. “As of last year we have expended over N8.9 trillion on infrastructure. Just last month the Federal Executive Council approved the Lagos-Calabar rail station which will pass through Uyo. “The council approved a full business scale for the Ibom Deep Seaport. It was a very active demand from the governor of the state,” he said. An obviously elated Udom said he was excited with the inauguration of the project. “Everything we do is a vision of what we want to break into. “There were a lot of people when we started this project, they said this building will be completed. “Today we are presenting to the Akwa Ibom People, Nigeria and the world the smartest, most intelligent building Nigeria can boast of,” the governor said. Osinbajo, who also flagged-off a 557 Dakkada Luxury Estate said housing projects were very

R-L Udom, Osinbajo and Eno, admiring the master plan of Dakkada Luxury Estate ﬂagged-oﬀ by the Vice President in Uyo....recently

Dakkada Tower in Uyo, Akwa Ibom State capital inaugurated by Vice President Yemi Osinbajo critical in creating jobs aside from providing shelter. The Vice President said the housing estate would be “a nice little place where one can hide away,” adding, “The Dakadda Luxury Estate is strategic, people across the country will want to come here, and when they come they will have a decent accommodation to raise their children. The facilities here would meet the needs of residents and meet their standard of what should be a home.”

Udom, who said that the luxury estate project was driven by housing demand from foreign investors, noted that 13 per cent of the estate had already been sold out. “We are having pressure on accommodation. We are having an influx of foreigners who are looking for where to build houses. We had to create a new estate that will be friendly to all.” “As we are standing here, 13 per cent of the estate has been sold out to non-indigenes.

Your focus on infrastructure development is significantly at one with the centerpiece of the federal government agenda

Everything that a luxury estate should have is here. The water here is WHO standard. The power supply will come from two sources; we are bringing in a gas turbine that will generate 15MW of electricity,” he said. On his part, the state Commissioner for Lands and Water Resources, Pastor Umo Eno, whose ministry supervises the Dakkada Luxury Estate project said the estate is designed such that residents can tele-work. According to him, the estate was part of the full plan by the governor to ensure smart living for investors coming into the state. The commissioner who said that enquiries about the estate will happen at the experience office, called on real estate investors to look up to the estate as a “place of peace and quiet,” adding that each plot in the estate in average of 2,000sqm, each square meter would be sold for N30,000. “The governor is the enabler of the positive things that the government is doing. Akwa Ibom is ready for foreign direct investments. “It’s the first mass city luxury estate that is developed by the state government and the governor has the vision to make it a home away from home. It’s just 557 plots, it’s a low density housing estate but the difference in this one is that it has all the facilities including the internet facility, MTN is having the contract to run all the fibre optics, you have the sewage central system, central water and treatment plant, police station, school. Everything is right inside the estate. It’s just a city within a city. The houses are not going to be the same, the fence will not be high but there will be other specifications to keep the ambience of the environment, some areas will be bungalows, some will be one floor and two floors. “It’s also designed to be a tourist attraction, on the roads we are lining it up with fruit trees, what the governor envisaged is that you are going to have Apple Street, you know that you can get apples there so that wherever you are that signifies a particular fruit. It’s a modern environment, it’s luxurious, this one you have 24 months build sale and we refund your money. You see, it’s part of government proving houses and it’s close to the airport typical of what you have in Abuja or Lagos. There will be security control and it’s going to be a very well secured estate,” Eno said. According to the commissioner, the Dakkada Luxury Estate will also have a church, shopping mall, clinic and health centre, a civic centre as well as a central gas supply. Going by Udom’s development drive which is anchored on his administration's Completion Agenda, the housing deficit in Akwa Ibom may soon become a thing of the past as many housing estates are now springing up in all the nooks and crannies of the state.

T H I S D AY ˾ WEDNESDAY DECEMBER 8, 2021

CRIME&SECURITY

Navy Seeks Special Intervention Fund to Establish More Jetties

FOC Eastern Naval Command, Rear Admiral Sanusi Ibrahim with House of Reps Committee Chairman on Navy, Yusuf Gagdi and other members of the committee during a tour of ENC's area of responsibility Stories by Chiemelie Ezeobi

he Eastern Naval Command (ENC) of the Nigerian Navy has solicited for a special intervention fund from the House of Representatives with a view to establish more jetties within the Command’s area of responsibility. Flag Officer Commanding ENC, Rear Admiral Sanusi Ibrahim, made the appeal recently in Calabar when the House of Representatives Committee on Navy visited the command on an oversight function. He said the command was faced with the challenge of insufficient platforms, inadequate jetties and litigations emanating from arrested vessels. According to him, some of the bases in the command still lack some requisite boats for their operations. He said: "For example, the Nigerian Navy Ship Victory and Nigerian Navy Ship Jubilee lacks boats to enable them to conduct maritime patrols for their respective sea area of operations. “Similarly, the command does not have a dedicated tug boat for

maneuvering its ship at the terminal in Onne Port. “In view of the foregoing, the command is passionately requesting the House Committee on Navy to consider a special intervention fund for the Nigerian Navy to procure seaward defence boats and tug boats for use. “This will further enhance the commands offshore patrol, especially around the Cameroon borders." He said that some jetties in the command have become dilapidated and requires various level of rehabilitation, while some bases lack jetties. While reeling out his achievements from January 2021 till date, the FOC said that the command's rigorous patrol and clearance operations resulted in the arrest of 34 suspects and nine vessels, recovery of 48 pumping machines and destruction of about 52 large wooden boats. “The command is not relenting in its effort towards curbing illegal refinery and bunkering within its area of responsibility.

“Since January 2021, the command anti-illegal bunkering and illegal refinery operations have led to the deactivation of 68 illegal refineries and seizure of about 12,989 metric tons of illegal refined diesel. “The command anti-crude oil theft and pipeline vandalism operations is ongoing to sustain vigilance on pipeline infrastructure; this has sustained revenue generation to national economy as evident in the Nigerian National Petroleum Corporation third quarter financial report. “The anti smuggling efforts of the command has also led to the seizure of 1,603 50kg bags of parboiled smuggled rice worth about N48.9million,” he revealed. He added that the command’s anti piracy effort in the period under review led to a drastic reduction of sea pirates, criminals and other militants group in the command’s area of operation. The FOC also said the command was also offering free medical services to host communities in the Nigerian Navy Reference Hospital, Calabar.

Responding after a tour of some facilities within the Command in Calabar, House of Representatives Committee Chairman on Navy, Rep. Yusuf Gagdi, said that the concerns from the Nigerian Navy were genuine. Gadgi said the committee were in Calabar to conduct an oversight function and to evaluate what the navy has been doing with ‘tax payers money’. “This visit is also to help us know what should be appropriated to the navy in the 2022 budget. Based on what we have seen on ground, the concerns raised by the FOC are genuine. “We are going to make sure that the navy gets the required jetties they deserve. The Nigerian Navy has done exceedingly well in term of project execution and I must commend them,” he said. Meanwhile, on the issue of arresting and prosecuting maritime offenders, he said the Armed Forces Review Act, which has passed through second reading in the House, has a section that empowers the navy to arrest and prosecute vessels conveying illegal product accordingly.

NNS BEECROFT Arrests Five Europe-bound Stowaways, Hands over to Immigration

NNS BEECROFT operatives handed over the suspects to NIS

The Nigerian Navy Ship (NNS) BEECROFT recently arrested five Europe-bound stowaways caught onboard MT CHEMSTRANS BALTIC vessel at Lagos anchorage. The suspects were said to have gained illegal access to the ship but were caught by the crew and handed over to the NNS BEECROFT patrol team during routine harbour patrol.

The ﬁve arrested Europe-bound stowaways

The Commander NNS BEECROFT, Commodore Bashir Mohammed, in a signed statement stated that findings during the interrogation revealed that MT CHEMSTRANS BALTIC was Europe-bound. He further stated that the stowaways, aged between 23 and 27 years, confessed that they had travelled to Lagos with

the intention of leaving the country for Europe in search of greener pasture before they were apprehended. The suspects have been handed over to the Nigerian Immigration Service (NIS) for further investigation and prosecution. Commodore Mohammed whilst commending NNS BEECROFT patrol

team advised Nigerians to always follow due process of migration to avoid being sanctioned. He further reiterated the Chief of Naval Staff, Vice Admiral Awwal Gambo's commitment towards supporting the Nigerian Immigration Service and other maritime stakeholders in curbing crimes within the maritime environment.

T H I S D AY ˾ ˜ DECEMBER 8, 2021

BUSINESS/MONEYGUIDE

Farmers, Entrepreneurs Generate N46.25bn Under Agricultural Transformation Programme James Emejo ÓØ ÌßÔË Nigerian farmers and entrepreneurs generated about N46.25 billion under the Agricultural Transformation Agenda Support Programme – Phase 1 (ATASP-1), THISDAY has learnt. While the farmers raked in about N11.60 billion under the scheme, the entrepreneurs generated N34.65 billion. Essentially, the ATASP-1 is a seven-year agricultural intervention programme (2015-2022) which is jointly developed by Federal Ministry of Agriculture and Rural Development (FMARD)

and the African Development Bank (AFDB) to attract private sector investment in agriculture. Nigeria under the leadership of President Muhammadu Buhari had embarked on an accelerated effort to transform its agricultural sector through the ATASP-1, driven by the Minister of the Federal Ministry of Agriculture and Rural Development, Dr. Muhammad Abubakar. According to the project performance indices obtained by THISDAY, the programme also generated about N1.92 million jobs in seven years. The employment distribution

included N1.34 million for male and N575,319 jobs for the female. Furthermore, the programme is committed to the provision of infrastructure including irrigation facilities, feeder roads, potable water supply and power among others to achieve the objectives of short and long term food and nutrition security, and also to attract private investments in agriculture. According to the project handlers, farmers are trained and supported to produce and grow crops twice a year through irrigation and provision of improved seeds/ planting materials.

Bello, Dare Laud Cosgrove as Firms Commissions Smart Estate in Abuja Emmanuel Addeh ÓØ ÌßÔË Minister of the Federal Capital Territory (FCT), Muhammad Bello and his counterpart at the Ministry of Youth and Sports, Sunday Dare, have lauded the efforts of Cosgrove Investment Limited, a real estate company, in building high level smart estates around the country. Speaking during the commissioning of the Cosgrove Smart Estate in Wuye, Abuja, the FCT minister who expressed delight at the ground-breaking worldclass structures, explained that in developing the capital city,

the housing sub-sector remains a very important part. Bello noted that the housing sub-sector in the FCT is perhaps the most dynamic and vibrant in the entire country with the active participation of companies like Cosgrove, which has continued to deploy world-class designs, modern technologies and innovations. “One of those leading the charge and pioneering this innovation in the housing sector is Cosgrove Investment Limited and we are very proud of what the company is doing in the city of Abuja,”

the minister said. “I salute the vision of Cosgrove for identifying this need in the housing sector and having the courage and tenacity to fill it. Even more impressive is the fact that this is a wholly indigenous company employing many Nigerian professionals,” he explained. He also directed that ongoing work on the last five hundred metres of the road leading to the estate should be accelerated from the stone-base level by the Federal Capital Development Authority (FCDA) before the end of the year.

Olaniwun Ajayi Adds Finance Experts from International Rivals for London Launch Leading Nigerian law firm, Olaniwun Ajayi, has added three lawyers from firms including White & Case and Dentons to launch an office in London, the firm’s first outside its home country. In a statement, the firm said finance specialists, Howard Barrie, Chuks Ibechukwu and Dr. Gabriel Onagoruwa, have joined as founding partners of the new office, which the firm said furthers its strategy to meet client need for more streamlined cross-border legal services on their Africa projects.

According to the statement, “The office will strengthen our transactional capabilities in corporate finance, project development, M&A and private equity, in enabling us to deliver the specialised English law, cross-border and transactional services integral to many of the investments and bankable projects in Africa today. “Barrie acts as senior partner of the new office and has joined the firm after almost four years at Dentons in London, initially as a partner and later a consultant, prior to which he was a partner

at Eversheds Sutherland and legacy firm Denton Wilde Sapte. He advises government and corporate clients on projects and their financing with a particular focus on Africa, having worked on transactions in more than 16 African countries. It added, “Recent projects include advising the government of Cameroon on the financing aspects of the Nachtigal hydropower project and the East African Development Bank on development financings in the East African Community countries.

DataPro Rating Watch Digital Platform Now Live DataPro, the technology-driven credit rating agency has made live its rating watch digital platform. DataProin a statement said the development happened on Friday, December 3, 2021. This, it stated, followed the launch of the digital platform during its recent highly successful webinar on Credit Rating Imperatives for Issuers and Investors jointly organised with the Association of Issuing Houses of Nigeria (AIN). According to the chief rating

officer of the agency, Mr. Oladele Adeoye, the Rating Watch Digital Platform is expected to assist capital market stakeholders including regulators, institutional investors, and other professionals in decision making and data gathering. The company’s Client Services Manager, Mr. Kehinde Rasheed, in the statement, described the rating platform as a web dashboard available on the company’s website that affords the members of the public a glance at the rating highlights

of the corporate entities, bonds, funds, commercial paper, and sub-nationals. He explained further that the platform also provides the rating trends of entities and instruments that have been rated by the company over a given period. “In its forward-looking approach, at deepening the debt market in Nigeria lately, DataPro has intensified efforts in promoting the value proposition of credit rating agencies at driving market efficiency.

Ayeni Adekunle Listed as Leading Innovators In Europe, Middle East,Africa The founder and CEO of BHM, Ayeni Adekunle has been announced as a key innovator in the Europe, Middle East, and Africa (EMEA) regionby PRovoke for theirseventh annual Innovator 25 list.

The list serves as a tribute to the leaders who embrace and champion the innovations and development of the PR industry. This year, PRovoke is celebrating professionals who, during this tough second year of the

pandemic, have risen to the occasion and innovated within not only traditional organisations, but also those who are leading the way in communications for new industry areas and categories.

L-R Chairman/CEO, Cosgrove Smart Estate, Umar Abdullahi; Minister of Youths and Sports, Mr. Sunday Dare; and Minister Federal Capital Territory, Muhammad Bello; at the commissioning of Cosgrove smart estate Wuye in Abuja... Yesterday

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, OCTOBER 7

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ ˜ Ͷ˜ ͰͮͰͯ

FBN Holdings Records N8.5trn Total Assets, N40.79bn PAT Kayode Tokede FBN Holdings Plc announced yesterday that it gained 11 per cent to hit N8.51trillion in total assets as at September 30, 2021 from N7.69trillion reported in full year ended December 30, 2020. Key drives were 25 per cent gain in Customer loans & advances (Net) to N2.77trillion as at September 30, 2021 from N2.22 trillion reported in 2020

full year results, and 11 per cent increase in Customer deposits to N5.42 trillion from N4.89trillion reported in 2020 full year results. The Holdings, however, announced N40.79billion in profit after tax in its audited nine months ended September 30, 2021 result and accounts, a decline of 40.15per cent from N68.15billion reported in nine months of 2020. The Holdings also reported 16.4 per cent decline in profit before tax

P R I C E S MAIN BOARD

F O R DEALS

to N52.9billion in nine months of 2021 from N63.31billion reported in nine months of 2020. The decline in profits was compounded by the Holdings decline in gross earnings and growth in operating expenses. From the profit & loss figures, FBN Holdings reported nearly three per cent drop in gross earnings to N427billion in nine months of 2021 from N439.3billion reported in nine months of 2020, while total operating

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

expenses grew by 9.4 per cent to N229.5billion from N209.8billion reported in prior nine months. The Group Managing Director FBN Holdings, Mr. U.K. Eke in a statement said:“The FBN Holdings’ nine months performance reflects the events in the yield environment and the macroeconomic challenges. “However, the Group has continued to drive revenue momentum from the increase in loan growth, to deepening the

T R A D E D MAIN BOARD

A S

transaction-led banking model, evidenced by our continued growth in non-interest income, as well as improving the performance from the Merchant Banking and Asset Management business. We have remained committed to our long-term strategic ambitions and are pleased with the progress made in driving stability in performance, and ensuring the Group is well positioned to grow through the current 2020 – 2024 strategic

O F

cycle. The first nine months of this year have witnessed significant changes at FBN Holdings with the appointment of new NonExecutive Directors at FBN Holdings and FirstBank with a view to enhancing governance practices. “These developments along with the realignment of the Group on steadier ground over the last few years pave the way for a successful and prosperous future.

0 7 / 1 2 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

WEDNESDAY, DECEMBER 8, 2021 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Dozens Killed in Burundi Prison Fire At least 38 people have died, and scores more have been injured in a fire that tore through a prison in Burundi, says BBC. Vice President Prosper Bazombanza told reporters the blaze hit an overcrowded facility in the capital Gitega, with at least 69 people seriously injured. Images circulating online show a building engulfed in flames and piles of bodies said to be of inmates in the jail. “It is really catastrophic,” one inmate told the BBC over the phone. “I’d say almost 90 per cent of sleeping halls are burnt.” A journalist outside the prison told the BBC that nurses from Gitega hospital had entered the prison to help the victims, saying they were taking out the dead and wounded.. UN Launches Historic $2bn Humanitarian Appeal to Save Afghan Children The United Nations Children’s Fund (UNICEF) launched its largest-ever single-country appeal Tuesday to urgently respond to the humanitarian needs of “over 24 million people in Afghanistan, half of whom are children.” The relief agency said the appeal for $2 billion would help avert the imminent collapse of health, nutrition, education, water, sanitation and hygiene, as well as other social services for children in the country where families are struggling to heat their homes and keep their children warm in harsh winter conditions. Alice Akunga, the UNICEF country representative, noted in a statement that the current humanitarian situation in Afghanistan is dire, especially for children. She said without additional funding, her agency and partners will not be able to reach the children and families that urgently need relief assistance. UNICEF estimates that one in two children under five in Afghanistan will be “acutely malnourished” in 2022 due to the food crisis and lack of access to key social services. Iraq Motorcycle Bomb Kills 4, Oﬃcial Blames ISIS A bomb killed four people in the southern Iraqi city of Basra on Tuesday, the first such attack in years in a part of the country that has enjoyed relative stability, and a senior official said Islamic State militants were suspected of carrying it out. The blast, near a major hospital in the predominantly Shi’ite Muslim city, was caused by a motorbike rigged with explosives, the military said in a statement, citing preliminary information. There was no immediate claim of responsibility. “The blast carries fingerprints of Daesh (Islamic State),” Basra Governor Asaad al-Edani told reporters. Bomb attacks in the Basra area have been rare - the last major one was in 2017 and claimed by Islamic State. The authorities have kept a tight grip on the area where the bulk of the OPEC member’s oil is produced and exported. A Reuters witness said police officers were collecting body parts from a minibus that was badly damaged by the blast. The

street was covered with broken glass and blood. The governor announced three days of mourning. Cameroon: New Clashes Kill 10, Displace Hundreds Cameroonian authorities say clashes between ranchers and fishers have left at least ten people dead and scores wounded Monday, forcing hundreds to flee into neighbouring Chad. The clashes in Cameroon’s north broke out over water scarcity, a problem that authorities have struggled to address. Mousgoum and Arab Choua, community leaders in Cameroon’s northern border with Chad, said a bloody conflict erupted between cattle ranchers and fishers in Ouloumsa, a northern village, on Monday. Cameroon government officials in Logone and Chari, an administrative unit called division across Cameroon’s northern border with Chad, said at least 10 people were killed and more than 20 wounded, with 10 left in critical condition. Math Mazra is a community leader in Logone and Chari. He says he is pleading with the population of Logone and Chari to stop bloodshed and attacks on civilians who are not concerned with the fresh fisher cattle rancher conflicts that started on Monday. International Students Return to Australia under COVID-19 Pilot Scheme The first group of 250 international students is in quarantine after flying into Sydney under a COVID-19 pilot scheme to boost Australia’s struggling education sector. Most international students have been shut out of Australia since March 2020 by some of the world’s toughest coronavirus restrictions. A group of 250 international students landed Monday at Sydney Airport. Onboard the flight from Singapore were nationals from more than 15 countries, including Canada, China, Indonesia, Singapore, South Korea, and Vietnam. They will be in quarantine for three days. A second flight under the pilot program carrying students from South Asia is due to arrive in Sydney later this month. It will guarantee students’ entry into New South Wales, Australia’s most populous state, while its international borders remain closed to most foreign

travellers. New South Wales’ minister for jobs, Stuart Ayres, hopes the students’ return will boost the local economy. “They are our bartenders, our cafe staff, our wait staff, and we know our hospitality sector is really looking forward to seeing many of those students back in the workforce. We will continue to do around 250 students every fortnight until we can see more open borders,” Ayres said. Nigeria Will Collaborate with Belarus, Says Buhari Deji Elumoye in Abuja

President Muhammadu Buhari says Nigeria will collaborate with Belarus for mutual benefit. Buhari spoke on Tuesday at State House, Abuja, while receiving the Special Envoy of President Alexandar Lukashenko of Belarus, Gen. Victor Sheiman After listening to the presentation of his guest, Buhari said: “I’m impressed with the progress you have made as a country. We can benefit a lot from your experiences. I’ve taken note of your capacities, and we will contact you for areas we can collaborate, and work together, especially in agriculture. We have the land, the people, you have the technology, and you will surely hear from us.” Sheiman had earlier commended the Nigerian president for working “for the benefit of Nigerian people,” noting that it is exactly what Lukashenko is doing in Belarus. According to him, Belarus is sufficient in agriculture, and sells surplus food products worth up to $7 billion yearly. He added that Belarus was ready to cooperate with Nigeria in mechanized agriculture, and can also help in the fight against terrorism. Japanese Lawmakers’ Visit to Controversial Shrine Provokes China, South Korea About 100 Japanese lawmakers Tuesday visited a controversial Tokyo shrine that honours its war dead, drawing criticism from South Korea and China. The visit to the Yasukuni Shrine came 80 years after Japan’s surprise attack on the US naval base at Pearl Harbor in Honolulu, Hawaii.

The lawmakers, members of several political parties, were accompanied by nine vice ministers and aides in Prime Minister Fumio Kishida’s conservative governing party. South Korea and China view the shrine as representing Japan’s past military aggression because it pays tribute to its 2.5 million war dead, including 14 Japanese World War II leaders convicted as war criminals. The lawmakers traditionally visit the shrine for its spring and autumn festivals and the August 15 anniversary of Japan’s surrender but have postponed visits since October 2019 because of the coronavirus pandemic. South Korea’s Foreign Ministry expressed in a statement “deep regret and concern for the visit to Yasukuni Shrine, which beautifies the colonial invasion and war of aggression.” “We are again strongly pointing out that the international community could trust Japan when it faces up to history correctly and demonstrates its humble reflection of the past and sincere remorse through actions,” the statement said. Chinese Foreign Ministry spokesperson Zhao Lijian said the visit was a “deliberate move and provocation” that “again shows Japan’s wrong attitude towards the history of aggression.” Biden, Putin Hold Virtual Summit Amid Ukraine Tensions US President Joe Biden and his Russian counterpart Vladimir Putin have held a high-stakes virtual summit on Tuesday, with Moscow’s massing of troops along the Ukrainian border for a possible invasion at the forefront of their discussions. The White House said Biden was ready to warn Putin that Russia would face tough economic sanctions if it invaded the former Soviet state after annexing Ukraine’s Crimean peninsula in 2014. Moscow has positioned 70,000 troops along Ukraine’s eastern border, with US officials suspecting an invasion is possible in early 2022. White House officials said the US would exact “a very real cost” against the Kremlin if it launched the invasion. Putin, in turn, wants the US to guarantee that the post-World War II NATO military alliance will never expand to include Ukraine, a demand the Americans and their 29 allies will not accept.

WEDNESDAY DECEMBER 8, 2021• T H I S DAY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust): is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 06Dec-2021, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 160.30 161.70 -0.97% Afrinvest Plutus Fund 100.00 100.00 9.14% Nigeria International Debt Fund 317.48 317.48 -17.35% Afrinvest Dollar Fund 101.78 102.83 -7.93% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 10.10% AIICO Balanced Fund 3.22 3.28 -6.61% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 8.68% Anchoria Equity Fund 132.93 134.63 -0.59% info@anchoriaam.com Anchoria Fixed Income Fund 1.14 1.14 -14.23% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 19.96 20.56 10.07% ARM Discovery Balanced Fund 446.93 460.40 11.63% ARM Ethical Fund 39.63 40.82 17.56% ARM Eurobond Fund ($) 1.07 1.08 -2.05% ARM Fixed Income Fund 0.99 0.99 -5.56% ARM Money Market Fund 1.00 1.00 8.59% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 107.69 107.69 5.88% AVA GAM Fixed Income Naira Fund 1,059.78 1,059.78 5.98% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund 1.00 1.00 8.48% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.04 2.04 -3.33% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.20 2.24 0.68% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.04 1.04 5.22% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.66% Paramount Equity Fund 16.52 16.82 3.28% Women's Investment Fund 137.13 138.67 3.03% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.91% Cordros Milestone Fund 130.15 130.95 11.12% Cordros Dollar Fund ($) 110.16 110.16 5.65% CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 7.72% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 8.62% EDC Nigeria Fixed Income Fund 1,171.15 1,195.26 1.93% assetmanagement@emergingafricafroup.com EMERGING AFRICA ASSET MANAGEMENT LIMITED Web:www.emergingafricagroup.com/emerging-africa-assetmanagement-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 7.93% Emerging Africa Bond Fund 1.04 1.04 3.60% Emerging Africa Balanced Diversity Fund 1.10 Emerging Africa Eurobond Fund 104.32 FBNQUEST ASSET MANAGEMENT LTD Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price FBN Bond Fund N/A FBN Balanced Fund N/A FBN Halal Fund N/A FBN Money Market Fund N/A FBN Dollar Fund (Retail) FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund

N/A N/A Bid Price 1.00 4.00 1.69 1.20

1.10 8.97% 104.32 4.28% invest@fbnquest.com Offer Price N/A N/A N/A N/A

Yield / T-Rtn N/A N/A N/A N/A

N/A N/A N/A N/A fcmbamhelpdesk@fcmb.com Offer Price 1.00 4.00 1.73 1.20

Yield / T-Rtn 7.32% 3.28% 11.09% 5.88%

FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund N/A N/A N/A Coral Income Fund N/A N/A N/A Coral Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 7.77% Vantage Balanced Fund 2.82 2.89 -1.12% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 155.54 155.81 0.02% Vantage Equity Income Fund (VEIF) - June Year End 1.24 1.28 -1.79% Vantage Dollar Fund (VDF) - June Year End 1.07 1.07 3.98% 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 1.48 1.50 8.33% Lotus Halal Fixed Income Fund 1,153.04 1,153.04 8.05% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.32 11.40 8.23% Meristem Money Market Fund 10.00 10.00 10.18% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 101.32 101.33 7.55% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.96% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.56 1.59 13.34% PACAM Fixed Income Fund 11.10 11.13 -8.61% PACAM Money Market Fund 10.00 10.00 7.69% PACAM Equity Fund 1.41 1.43 -10.60% PACAM EuroBond Fund 111.65 113.91 1.83% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 127.67 130.10 6.81% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.07 1.07 10.06% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,327.57 3,358.97 3.55% Stanbic IBTC Bond Fund 235.10 235.10 4.56% Stanbic IBTC Ethical Fund 1.23 1.25 5.08% Stanbic IBTC Guaranteed Investment Fund 311.80 311.80 5.82% Stanbic IBTC Iman Fund 233.34 236.87 6.93% Stanbic IBTC Money Market Fund 100.00 100.00 7.42% Stanbic IBTC Nigerian Equity Fund 10,806.88 10,961.95 2.99% Stanbic IBTC Dollar Fund (USD) 1.29 1.29 5.02% Stanbic IBTC Shariah Fixed Income Fund 116.63 116.63 5.00% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 105.81 105.81 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.31 1.33 2.31% United Capital Bond Fund 1.95 1.95 6.33% United Capital Equity Fund 0.90 0.92 12.72% United Capital Money Market Fund 1.00 1.00 9.18% United Capital Eurobond Fund 121.90 121.90 6.46% United Capital Wealth for Women Fund 1.06 1.08 4.37% United capital Sukuk Fund 1.07 1.07 7.07% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 12.91 13.02 8.78% Zenith ESG Impact Fund 14.41 14.56 18.05% Zenith Income Fund 24.78 24.78 3.25% Zenith Money Market Fund 1.00 1.00 6.69%

REITS NAV Per Share

Yield / T-Rtn

124.98 54.20

10.62% 7.24%

Bid Price

Offer Price

Yield / T-Rtn

13.43 125.07 100.33 17.31 21.01

13.53 128.17 102.53 17.41 21.11

4.39% 4.01% 1.13% -4.64% 12.23%

Fund Name SFS REIT Union Homes REIT

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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Grifﬁn 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.71 5.40 17.28 1.00 21.69 157.40

3.81 5.50 17.48 1.00 21.89 159.40

-0.68% -4.97% 6.84% 7.71% 5.69% -15.20%

NAV Per Share

Yield / T-Rtn

107.28

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

WEDNESDAY DECEMBER 8, 2021 • T H I S D AY

WEDNESDAY, ΀˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

BEST IN PROMOTION OF GOOD HEALTH AND WELLBEING... L-R: Senior Legal Officer, Dangote Sugar Refinery Plc, Tewo Jegede; Chief Finance Officer, Debola Falade; Head, Supply Chain, Adesola Ogunnaike; and Head, Health, Safety and Environment/ Sustainability, Itoro Unaam, at the Dangote Sugar Refinery Plc, Winner of Best Company in Promotion of Good Health and Wellbeing, at The SERAS CSR Awards Africa 2021, in Lagos …recently

Setting New Record, AbdulRasaq Signs Bill Mandating 35% Gender Inclusion Kwara gov is a historic figure, says UN Women, Aisha Buhari Kwara State Governor, Abdulrahman AbdulRazaq, yesterday, set a new record in gender inclusion in public office, when he assented to an executive bill mandating the state to have at least 35% women appointees in the state executive council and other classes of political appointments. The law, cited as Political Offices (Gender Composition) Bill 2021, first of its kind, placed a ceiling below which the government could not go in the appointment of either of the gendersfor public offices. It was for this reason that the First Lady, Aisha Buhari and United Nations women, have described the Kwara governor as a historic figure, for legally positioning women in

a prime place in the state’s body polity. Speaking in Ilorin at a state government-powered conference themed: 'Cracking the glass ceiling: the story of Kwara women', the governor said it was only fair that women be given a fair space in the decision making process, whose outcomes have far-reaching consequences for them and their families. The event was attended by prominent people from Kwara and beyond such as, includingrepresentative of the wife of the Nigerian President, Dr. Rukayat Gurin; Kwara First Lady,Mrs. Olufolake AbdulRazaq; Women Affairs Minister, Dame Pauline

One Year After, Police Arrest Killer of Katsina District Head We killed him for accusing our leader of banditry, says suspect Francis Sardauna in Katsina The Katsina State Police Command, has arrested one Yusuf Abdullahi, in connection with the assassination of the District Head of Yantumaki, Alhaji Abubakar Atiku. The 20-year-old Abdullahi, who hailed from Kagara village in Matazu local government area of the state, was apprehended by police in Karaduwa market. THISDAY had reported that the traditional ruler was killed alongside his security guard, Gambo Isa, by the suspected bandits, who invaded the palace of the monarch on June 1, 2020. The Command's Public Relations Officer, Gambo Isah, who paraded the suspect alongside other criminals at the force headquarters in Katsina, said efforts were on to arrest Abdullahi's accomplices. Isah, a superintendent of police, said, "You may recall that on 1st June, 2020, bandits armed with sophisticated weapons, attacked the palace of Alhaji Abubakar Atiku, the District Head of Yantumaki, where they killed him and his guard, one Gambo Isa.

"We have arrested one of the bandits, Yusuf Abdullahi, 20 years. During our investigation, he confirmed that he was among those who killed the district head. He mentioned the name of their leader, one Shamsu as well as Ibrahim, Selmanu and Kabir, whom he said were in the forest". In an interview with journalists, Abdullahi said seven of them carried out the deadly operation with four AK-47 rifles but that it was Shamsu that killed the traditional ruler. He explained that they killed the district head, because he was trying to arrest their leader, Shamsu, over allegations of banditry, kidnapping and cattle-rustling in the area. He said: "We killed him, because he was trying to arrest Shamsu over accusations of banditry, kidnapping and cattle-rustling. We attacked the palace with four Ak-47 rifles. "Seven of us carried out the operation but it was Shamsu that killed the district head. Selmanu killed his guard and we stole about N100,000 from his room but nothing was given to me."

Tallen; Ekiti First Lady, Erelu Bisi Fayemi and several governors' wives. Also in attendance were senators from the three senatorial districts of Kwara and House of Representatives members from the state; an Ilorin born business tycoon, Mrs. Bola Shagaya; former acting Governor of CBN, Sarah Alade; National Missioner Ansar-u-deen Muslim Society of Nigeria, Dr. AbdulRahman Ahmad; Founder/CEO Sokoa Chair Centre and keynote speaker, Mrs. Ibukun Awosika. Kwara Speaker, Yakubu Danladi-Salihu led members of the assembly to the event which was also attended by cabinet members. Kwara State Traditional Council Chairman and the Emir of Ilorin Dr. Ibrahim Zulu-Gambari led a legion of first class emirs and Obas to the event that also attracted global audience such as the United Nations Women Representative to Nigeria/ ECOWAS, Comfort Lamptey, and ambassadors among others. The event also saw the conferment of outstanding awards of excellence on Kwara women,who have achieved huge feats in their respective fields. These were former Chief Judge,Raliat Elelu-Habeeb; Mrs Sarah Jubril; financial guru and

former Lagos State Commissioner for Finance, Mrs Foluke Abdulrazaq. Also honoured were Mrs. Sarah Alade, business woman, Bola Shagaya; Senator Khairat Gwadabe; first female HOS in Kwara Zarah Omar; former Deputy Vice Chancellor of University of Ilorin, Prof Sidikat Ijaya; media veteran, Hajia Eyitayo Mairo Mustapha; and the Onila/Agindigbi women, who built schools, among many others. The governor said the recognition and the step to mainstream women in public service were the least the administration could do for the hard working women as a way of inspiring the girl child. “Women are so critical to human civilisation. They are just as brilliant, innovative, and smart as men. They are the largest voting demographic in Nigeria. Yet, they are often absent or unfairly represented when policies and programmes that shape everything concerning them and their families are designed. “This needs a rethink. In Kwara, we have recently taken unprecedented steps to involve more women in the decision making process. We appointed 56.25 female cabinet members and about 50% female permanent secretaries. Many key government positions are headed by women.

We do not have regrets making such decisions. “Nevertheless, the gains we have made in Kwara in mainstreaming gender parity in appointments could easily be reversed by anyone. We have, therefore, decided to give a legal cover for gender parity in Kwara State, no matter what party is in power. I have therefore assented to the Kwara State Political Offices (Gender Composition) Bill 2021. “A unique feature of this legislation is that no gender class shall henceforth have below 35% representation in the State Executive Council. This opens a new chapter for inclusive political system in Kwara State and Nigeria as a whole. It is our bold contribution to the Nigerian political culture. “We feel strongly that no segment of the society should be absent or underrepresented in the decision-making process. This law could well encourage our major parties to officially mainstream gender parity in their activities,” he asserted. He recalled that many heroic efforts of women have contributed to the growth of the state, saying the conference was organised to single them out for special commendations. “This is a moment to specially

appreciate all of you Kwara women for the great things that you stand for. From farm to market place, community work, national service, and their sweats that go into building our homes, the Kwara woman is simply great. "Early this year, I read the inspiring story of some women in Onila and Agindigbi communities, who pulled resources together to build schools. No commitment to community growth can be greater. I visited these women in appreciation of this sacrifice. We have also reimbursed their expenses, and completed the schools. The Onila/Agindigbi phenomenon reflects the character of the Kwara woman,” Abdulrazaq said. Nigeria's First Lady, who was represented by the Senior Special Assistant on Administration and Women Affairs, Dr. Rukayat Gurin, called on all states in Nigeria to emulate AbdulRazaq in promoting the welfare of women for overall development of Nigeria. "You are a true partner to women and you are doing well for advancing the course of women. We are all testimonies to the historic story of Kwara women under you," she said, commending AbdulRazaq for giving opportunities to women to thrive.

Restructuring is Nigeria’s Pathway to Devt, Says Tambuwal Nseobong Okon-Ekong Contrary to misgivings that the North was averse to restructuring, the Sokoto StateGovernor, Aminu Tambuwal, has said Nigeria's advancement as a nation depended on "restructuring and devolution of powers," saying the federal government must "shed weight and devolve more powers to the sub-nationals." The governor spoke to journalists in Sokoto during a recent tour of the Revenue Mobilisation Allocation and Fiscal Commission to get inputs from states for an impending review of the revenue allocation formula. Tambuwal, who is the Vice Chairman of Nigerian Governors

Forum and Chairman of governors elected on the platform of the Peoples Democratic Party (PDP), asserted that no state in the federation was happy with its allocation from the federation account. "No state is happy with where it is, not even Lagos or Rivers. So, if Lagos and Rivers are not happy with where they are, how do you want Sokoto and others to feel? We are all looking for money and resources. Not even the federal government is happy with where it is. They (federal government) has the lion share but they are looking for resources. Go and ask them; they borrow money to pay salaries." Justifying his argument for

restructuring, Tambuwal said, "It is not about Sokoto but what people have been talking about the need for restructuring and devolution of powers in the country. We must review and restructure away all those things from the centre. I said it at the PDP Retreat. “It is first our pathway to stability, growth and development. The federal government must shed weight and devolve more powers to sub-nationals, where the people are in the states and local governments. That would give less attraction to the centre. Let the federal government be dealing with issues of immigration and other normal issues that a federal system should be concerned about." On whether he would go against

the resolution of Southern Governors Forum to have a President from the South in 2023, Tambuwal said he found it difficult to talk about zoning. "When you talk about what my brother governors from the South said, they are entitled to their opinion. When the Northern governors met in Kaduna, they said their own. But it is now for the political parties to sit down, look at the issues and plan how to win elections. “The bottom-line for any political party is how to win elections. When you are talking about democracy and elections, you must think about demography; where are you going to get the votes?"

WEDNESDAY, ΀˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

FOR BETTER KITTED HIGHWAY MANAGERS... L-R; Group Managing Director, Wetherheads Advertising Group Ltd. Mr. Abiodun Iderawumi; Managing Director/CEO, Linkage Assurance Plc. Mr. Daniel Brale; Managing Director, Lagos Metropolitan Area Transport Authority (LAMATA), Mrs. Abimbola Akinajo; and the Technical Adviser Corporate and Investment Planning (LAMATA), Mr. Agbonzegbe Konyeha, during the handing over of Uniform Kits to LAMATA for the use of its highway managers by Linkage Assurance Plc. in Lagos…. yesterday

In Last Minute Decision, Outgoing PDP Approves Expulsion of Members in Kebbi Extends tenure of Anambra caretaker committee

Chuks Okocha in Abuja

Less than 24 hours to the expiration of the tenure of the outgoing National Working Committee (NWC) of the Peoples Democratic Party (PDP), it has approved the expulsion of 15 members of the party in Kebbi State and at the same time, extended the tenure

of office of the Anambra State executive committee. This is as employment scam has rocked the party with employment of personal staff of outgoing NWC members and triple promotions of staff to managerial levels, after a massive sack of staff last year. In a statement, outgoing National Publicity Secretary, Kola

Ologbondiyan, he said the party has affirmed the expulsion of some of its members in Kebbi State, by the state chapter of the party. The expelled members were Garba Abubakar Besse, Ibrahim Usman Manzo, Muhd Ruwa R.K, Musa Ibrahim Manzo, Umar Yakubu Kamba, Abdulmalik Haliru Milton, Haruna Shayau, Isiyaku

Zulum Gives N5 million Cash to Soldiers Injured in Encounter with ISWAP Michael Olugbode in Maiduguri Borno State Governor, Prof. Babagana Zulum, on Monday, gave a cash gift of N5 million to soldiers injured during an encounter with Islamic State of West Africa Province (ISWAP) terrorists at Rann, a border town between Nigeria and Cameroon. A statement by the governor’s spokesman, Mallam Isa Gusau, said Zulum on Monday visited the soldiers injured in the encounter with the terrorist group in Rann, the secretariat of Kala Balge Local Government Area According to Gusau, Zulum interacted with and consoled all the affected soldiers in Army Hospital at Maimalari Barracks, located in Maiduguri. He said the governor was received by the General Officer Commanding 7 Division of the Army, Brig Gen. Abdulwahab Eyitayo. The Governor consequently directed the release of N5m, which was immediately shared to all soldiers on admission, including those unconnected with the KalaBalge battle, Isa said. Accompanied by a state assembly member, representing Kala Balge, and commissioners for Justice and Local Government and Emirate Affairs, Zulum consoled the soldiers, thanked and commended them for their gallantry and patriotism. Director of Army Public Relations, Brig.-Gen. Onyema Nwachukwu, in a press statement, had disclosed that the insurgents mouted gun trucks and motorcycles and attacked troops deployed at the Forward Operational Base (FOB) in Rann, during which the troops gallantly

killed 26 and captured the terrorists’ combat vehicles, 18 AK 47 rifles and one M-21 rifle with large quantity of ammunition. Several other equipment were also destroyed by own troops, the military added. The troops forced the insurgents

“to abandon their mission and withdraw in disarray”, even though “regrettably, two officers and five soldiers paid the supreme price, while three personnel sustained gunshot wounds” and were moved to the hospital.

Daudu Saleh Gambo, Bello Muhd Gulmare, Junaidu Wasagu, Muhd Idris Afan, Abubakar Kurunkudu, Hajiya Yalli and Haruna Isa According to Ologbondiyan, "Their expulsion is sequel to the decision of the state chapter and ratification by the NWC in line with the provision of the PDP Constitution (2017 as amended)." The PDP, therefore, urged all its members in Kebbi State to remain calm, united and focused, and not allow any agents of destabilisation to derail their party in the collective quest to rescue the state as well as the nation from the misrule of the All Progressives Congress (APC). The outgoing NWC has also extended the tenure of caretaker committees in wards, local governments and state chapters of the party in Anambra State. According to Ologbondiyan, "This

decision of the National Working Committee (NWC) in this regard, is in view of the urgent need to ensure proper structure in all organs of the party at all levels across the state. "In line with the provisions of the PDP constitution 2017 (as amended), the tenure of the caretaker committee, has been extended for a period not exceeding 30 days to give stakeholders enough time for broader consultations on the Anambra State chapter of the party." The PDP charged all leaders, critical stakeholders and members in Anambra to remain united and continue to work together in the interest of the party in the state. Meanwhile, there is an alleged ongoing wave of employment racketeering between personal staff of outgoing NWC members into the permanent staff structure of the party.

The PDP, last year, sacked over 70 per cent of its staff due to paucity of funds, but surprisingly, in the twilight of its tenure, the party has engaged in massive employment of new cadre of staff. Apart from the employment of new staff, the party is promoting staff from junior cadre to managerial cadre, while those transferred out of Abuja for disciplinary actions were being recalled to the party headquarters. At press time, there were legions of petitions from aggrieved staff awaiting the assumption of the Iyorchia Ayu-led NWC The new NWC is expected to assume office on Friday, December 10, after their inauguration at the International Conference Centre, Abuja. It has also hinted it would hold valedictory session on Wednesday at the national secretariat of the party at 11 am.

ARCHBISHOP OF CANTERBURY CONDEMNS NIGERIA’S RED LISTING, CALLS IT TRAVEL APARTHEID nounced the detection of three cases of omicron variant on December 2021. In the statement, Adetifa said all omicron cases so far detected in Nigeria were detected in persons with recent travel history to South Africa in November. "In line with Article 44 of the International Health Regulations 2005 (IHR) reporting framework, the federal government of Nigeria through the NCDC has also been notified by the UK government of seven cases of travellers from Nigeria with the Omicron variant. "Given the reports of increasing numbers of Omicron cases in the UK, the NCDC is also prioritising the sequencing of COVID-19 positive samples in travellers with history of travel to the UK,” it explained. The NCDC said it would through the National Reference Laboratory (NRL) continue to coordinate genomic surveillance activities across the country to sequence all positive COVID-19 samples from international travellers arriving in Nigeria. "This includes sequencing of positive samples from international travellers from October 2021 to date," said NCDC. The Centre however maintained that the Delta variant has remained the dominant variant than the new

omicron variant. It also stated that there was no evidence of generalised or community transmission of this variant in Nigeria. The Centre said it would continue implement effective public heath measures such as mask use, physical distancing, hand hygiene, and defaulters which may include publication of their details, suspension of their passports take personal and collective responsibility to ensure the safety of all Nigerians. Furthermore, it advised that incoming travellers should ensure their day two and day seven tests are done into effect on day five in compliance with the travel protocols provided by the Presidential Steering Committee on COVID19. "The NCDC and the Federal Ministry of Health urges members of the public to continue to COVID-19 (PSC-COVID-19) is mandatory for all international travellers arriving in Nigeria and ban on travel to Nigeria by the PSC-COVID-19.

NCAA Threatens to Ban International Airlines

The NCAA has threatened to ban from Nigeria any airline operating international services that does not abide by COVID-19

protocols for its passengers, as issued by the PSC. It stressed that non-compliance to the boarding requirements by any airline would attract a penalty of $3, 500 per passenger adding that airlines which consistently fail to comply with these requirements, may be banned from coming to Nigeria. The aviation regulatory authority insisted that the airlines must follow revised quarantine protocol for travellers arriving or departing Nigeria. It also said passengers must follow the revised provisional quarantine protocol as updated by the PSC on COVID-19. NCAA therefore directed all airline operators to convey to travellers the revised provisional quarantine protocol. In a statement dated December 3, 2021, and directed to airline accountable managers and country manager, it stated: “Airlines are to however note that protocols for international flight operations issued on 1st July 2021 still subsists.” On inbound passengers, the NCAA stated that airlines are to only board passengers travelling to Nigeria who are in possession of a paid permit to travel with QR Code and result of a negative COVID-19 PCR test done not later than 48 hours from time of boarding the flight.

“For any inbound passenger who is unable to either make payment for his /her repeat PCR test(s) or generate a paid permit to travel via the Nigerian international Travel Portal (NIPT), airlines are to send an email to designated email addresses for necessary assistance,” it added. The statement which was signed by the NCAA Director General, Captain Musa Nuhu also stated that for outbound flights, airlines are to only board passengers travelling out of Nigeria with evidence of either full vaccination for COVID-19 or result of negative COVID-19 PCR test done at NCDC accredited private laboratories not later than 48 hours from time of boarding.

Nigeria Can Only Embark on Retaliatory Action as Last Resort, Says NIIA

In a related development, the Director General of the Nigerian Institute of International Affairs (NIIA), Prof. Eghosa Osaghae, yesterday argued that unless all other avenue’s had been exhausted, Nigeria may not retaliate. Speaking on ARISE Television, THISDAY’s broadcast arm, Osaghae who was reacting to calls by some Nigerians to ban UK citizens from the country in like manner, argued that until all other alternatives to a peaceful resolution were fully

deployed, retaliation would not be necessary. “By the way, if you have exhausted all possible avenues for addressing disagreements or conflicts of this nature, then of course, you know if all these fail, you can then resort to reciprocity. “I'm sure that you know that this is not something that is beyond resolution and as the chair of our response team, the secretary to the government of the federation said yesterday that there are talks going on behind the scene and we hope that this issue will be resolved,” he stressed. Osaghae expressed the hope that the issue doesn't degenerate in the coming days, saying that the British response had been too highhanded and discriminatory. “ At the last count, there were 47 countries that had reported cases of Omicron, the variant, and out of these 47, there are only about six in Africa. And when you introduce travel restrictions, it is not to all of these 47 countries, it's only to the Southern African countries and Nigeria. “And yet the evidence suggests that this (virus) is not restricted to Africa. It's not restricted to Nigeria. And Nigeria itself is not a source. It's not an originator. The fact that it was detected, that doesn't make South Africa the owner,” he added.

WEDNESDAY DECEMBER 8, 2021 T H I S DAY

NEWS

Dowen: Five Students in Police Custody over Oromoni’s Death Parents back investigation,women lawyers demand justice

Chiemelie Ezeobi and Alex Enumah in Abuja Five students of Dowen College in Lagos are currently in police custody for the alleged assault and brutality meted out to 12-year-old Sylvester Oromoni, which led to his death. Also in the police custody are three housemasters of the school. Although the deceased had mentioned five students, only three were initially brought by their parents and lawyers. However, the reaming were later brought to the State Criminal and Investigation Department (SCID), Panti, Yaba. The trio in police custody were said to have been brought to the State Criminal and Investigation Department (SCID), Panti, Yaba, by their parents and lawyers. Commissioner of Police in the state, Hakeem Odumosu, who had directed that the case be transferred from Maroko Police Division to SCID, said those in custody were helping the command with information on how to track the two who were at large. He hinted that the command had launched

full-scale investigation into the circumstances leading to Oromoni’s death, adding also that the school principal and house masters, under whose care the boys were placed, were also assisting the police with necessary

information. Meanwhile, the newly instituted Dowen College Parents’ Forum has demanded an overhaul of the school management and hostel masters following the bullying that happened under their care,

which recently led to the death of a teen. They also demanded the installation of Closed Circuit Television Cameras (CCTV) in the school premises for easy monitoring of students. Strongly condemning

Oromoni’s death, the parent’s said a candle light procession would be held for him today at the school, despite the fact that the state government had shut and sealed the school premises. The statement by the parents

forum read in part: “We urge the school management team and other stakeholders (students and parents directly or indirectly mentioned) to fully cooperate with the authority in the ongoing investigation.

TOWARDS A BETTER APAPA… L-R: Director, Local Government Administration, Lagos State, Mr. Razack Amodu; Chairman, Apapa Local Government, Hon. Idowu Adejumoke Senbanjo; The Council Manager, Mrs. Mosunmola Otaiku- Okoka, and House Leader, Hon. Fowowe Ebenezer during a Strategies Stakeholders’ meeting in Apapa… yesterday ETOP UKUT

Customs Apapa Command /awmaNers AsN F* to Adopt ArtiÀcial Intelligence in Curbing Insecurity Urge Police, Navy to establish security divisions in Ondo, Kogi Seizes N7.8bn Drugs, Others in 11 Months Udora Orizu

The Nigeria Customs Service (NCS) Apapa Area Command has recorded a seizure of 97 containers with a Duty Paid Value (DPV) of N7.8 billion between January and November. The Customs Area Controller (CAC) of the command, Comptroller Malanta Yusuf, made this known in a statement signed by the Public Relations Officer, Deputy Superintendent of Customs, Abubakar Usman, in Lagos yesterday. Yusuf pointed out that the command recorded a seizure of 13 containers with duty paid value of N285 million in November. According to him, notable among the seized items are hard substances like Captagon pills, Cocaine, Tramadol, Codeine

syrup, Foreign par boiled rice, Tomato paste, Used clothings, etc. “These were seizures made based on clear contravention of sections 46, 47 and 161 of CEMA (Customs and Excise Management Act) Cap C45 LFN2004,” he said. Yusuf noted that the command would not sacrifice proper examination on the altar of trade facilitation, and that its officers would not relent in sharing intelligence to alert the system on false declaration even after examination or release of falsely declared items. “Concealments will always be unveiled through the use of forensic manifest management system and synergy with other sister agencies in the port.

N18bn ISWAP Funding: NFIU Says ECOWAS Report Outdated

Kingsley Nwezeh in Abuja

The Nigerian Financial Intelligence Unit (NFIU) yesterday disputed the report of the Inter-governmental Action Group on Money Laundering in West Africa (GIABA), which stated that terror group, the Islamic State for West African Province ((ISWAP) moved N18 billion annual revenue through Nigeria’s Ànancial system to fund its terrorism activities. GIABA is a task force set up by the Economic Community of West African States (ECOWAS) and a specialised institution of ECOWAS responsible for strengthening the capacity of member states towards the prevention and control of money laundering and terrorist Ànancing in the region. A statement by NFIU said the

report alleging that N18 billion ISWAP Funds was laundered through Nigeria’s formal Ànancial system was untrue. NFIU said the report was “totally outdated and was based on a 2019 country evaluation report which is literally stale and irrelevant today”. The statement signed by its Chief Media Analyst, Mr. Ahmed Dikko, said: “Nigeria’s counter terrorists Ànancing eͿorts have practically moved forward since then. It is to the knowledge of the international community, our populace and the formal media organisations that several arrests were made through the ongoing Operation Service Wide approved by President Muhammadu Buhari at the Defence Intelligence Agency (DIA). The exercise is continuing and far from over”.

The House of Representatives has urged the federal government to liaise with the Robotics and Artificial Intelligence Nigeria (RAIN) to provide advanced methods of curbing insecurity in Nigeria. The resolution of the lawmakers was sequel to the adoption of a motion titled, “Need to Support Home Grown Technology in Nigeria,” sponsored by Hon. Oluyemi Adewale Taiwo. Moving the motion Taiwo noted that Dr. Olusola Ayoola is the founder the Robotics and Artificial Intelligence Nigeria (RAIN), which

is involved in gathering Geospatial intelligence that developed the Carbon Emission Tracker Drone (CETD) to help the country deal with insecurity as the surveillance system can help security agents trace bandits and terrorists to their hideouts. He said the House is aware that in August 2021, 21–year-old drone maker, Ignatius Asabor made media headlines for his invention, but has since left the country after he was offered employment by a Technical Company in Finland, which discovered him on Facebook. He expressed worries that many of Nigeria’s talented

innovators seem to be fleeing to other countries who offer them mouth–watering deals whereas the federal government seems uninterested in granting them an enabling environment to thrive. Adopting the motion, the House mandated its Committee on Science and Technology to ensure compliance. Also at the plenary, the lawmakers, while adopting a motion sponsored by Hon. Obua Azibapu Fred, urged the National Environmental Standards Regulatory Agency (NESREA) to carry out an environmental impact assessment of telecommunications

Catholic Priest Abducted in Ondo Fidelis David in Akure

The Catholic Diocese of Ondo yesterday conÀrmed the abduction of one of its priest of St. Peter Clavar , Ilara Mokin in Ifedore Local Government Area of Ondo State, Rev. Fr. Joseph Ajayi by unknown gunmen. The gunmen were said to

have abducted the priest along the Akure-Ikere Expressed in Ondo State on Monday. THISDAY gathered that the incident happened while the priest was travelling in his Toyota Corolla car on Monday. THISDAY also gathered that the cleric, was traveling to Akure , the Ondo State capital from

Ikere Ekiti State when the hoodlums struck and whisked him away. The Secretary to the bishop of the Ondo Catholic Diocese, Jude Arogundade , Rev. Fr. Victor Ibiyemi, who conÀrmed the incident said the abductors had contacted the church demanding a sum of N20 million ransom.

masts base stations antenna in Nigeria and submit a copy of its report to the House. Moving the motion Fred noted that over the years, numerous telecommunications masts have been erected in different towns and cities by telecommunication companies to enhance their services. He also noted that despite the apprehension of many Nigerians about the negative effects that the masts may have on human health after many years, more telecommunications masts are still being erected indiscriminately by the Telecommunication Companies.

“ We are on it since morning, they (kidnappers) have contacted the church, demanding N20million,” the cleric disclosed. Meanwhile, all eͿorts to get reaction from the Police Public Relations O΀cer in the state, DSP Funmilayo Odunlami proved abortive as of the time of Àlling this report.

Alleged $8.4m Fraud: Court Compels Fred Ajudua to Undergo COVID-19 Test Wale Igbintade

A Lagos High Court, sitting in Ajah, has ordered alleged serial fraudster, Fred Ajudua to undergo Covid-19 test at Yaba Infectious Disease Centre Laboratory, in the presence of the representatives of both the prosecution and defence.

The court also ordered that the result of the COVID-19 test must be communicated to the court within 48 hours. Justice Josephine Oyefeso made the order shortly after counsel to the defence, Akinwale Kola - Taiwo, who represented the lead counsel for the defendant Olalekan

Ojo (SAN), informed the court that though Ajudua was present in court but pleaded that he should not be made to enter the court-room because he has been tested positive for COVID-19. Ajudua, allegedly defrauded a former Chief of Army StaͿ, Lt. General Ishaya Bamaiyi of $8.4 million while they were

both in Kirikiri Prison in 2004 for diͿerent oͿences. The defendant and his accomplices approached Bamaiyi and convinced him that he would hire the legal services of Chief Afe Babalola (SAN) at a cost of $8.4 million, to help him secure his release from custody.

COVID-19 Intervention Fund: ICPC Investigates UPTH, Other Health Institutions Kingsley Nwezeh in Abuja

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) said yesterday that it had commenced an investigation into the utilisation of the N950 million COVID-19 intervention fund by

the University of Port Harcourt Teaching Hospital and all other health institutions that benefited from the fund provided by the federal government. This follows an alleged violation of the provisions of the Corrupt Practices and Other Related Offences Act 2000 by the

beneficiaries of the fund. A statement by ICPC said: “An immediate investigation by the commission into the utilisation of the N950 million intervention fund by the teaching hospital in Port Harcourt has, therefore, been initiated”. It said the commission obtained documents from the

Federal Ministry of Health, Federal Ministry of Finance, Budget and National Planning, and the University of Port Harcourt Teaching Hospital that would assist in its investigation of the utilisation of the COVID-19 intervention fund by the health institutions.

WEDNESDAY DECEMBER 8, 2021 T H I S DAY

NEWSEXTRA

Erring Oil Companies Must be Penalised, Says Lawan President of the Senate, Ahmad Lawan, has called on the federal government through its relevant agencies to penalize indigenous oil companies responsible for the devastation of host communities where they operate. Lawan made the call in his concluding remarks after the Senate considered a motion on “the extremely urgent need to stop the continuous crude oil and gas blow out spill at Santa Barbara well 1, OML 29 operated by Aiteo Eastern Exploration and Production Company Limited in Opu Nembe, Bayelsa State.”

The motion was sponsored by Senator Biobarakuma DegiEremienyo (Bayelsa East). The lawmaker, while coming under order 42 and 52 of the Senate Rules, noted with concern the continuous gushing and spewing of oil and gas into the waterways and mangrove vegetation of Opu Nembe area of Bayelsa state, from a long sealed, non producing oil well 1, Santa Barbara OML 29 belonging to Aiteo Eastern Exploration and Production Company Limited. “Worried that even though same oil well has witnessed

several oil spills in previous years, the current incident borders on catastrophe due to a long period of accumulated oil and maximum pressure from piled up gas in the well. The magnitude of this incident is of an extremely high order, the Àrst of its kind in this part of the world. “Further worried that the entire mangrove forests and aquatic life have been adversely aͿected by this methane gas, as rainbow-like sheens are seen on the water body around the point of incident down to the shoreline.

Court NulliIies Dismissal oI Army *eneral

Alex Enumah in Abuja

The National Industrial Court sitting in Abuja has ordered the Nigerian Army to reinstate one of its o΀cers, Brigadier General A.S.H. Sa’ad, who was dismissed in 2016. Brig-Gen Sa’ad was compulsorily retired alongside 37 other o΀cers. Delivering judgment yesterday, Justice Benedict

Kanyip, stated that the claimant had proved his case far above the lawful threshold that he was wrongfully dismissed. Brig-Gen Sa’ad and his colleagues were forced out of service without recourse to the rules of disengagement in the Nigerian military. Most of the aͿected o΀cers were neither queried nor indicted by any panel, but forced out for reasons that smack of

high-level arbitrariness and witch-hunting by authorities of the army. The o΀cers subsequently petitioned President Muhammadu Buhari, in line with the military’s rules to seek redress. But even after petitioning the president, their fates are still hanging in the balance, as Buhari has refused to respond to their petitions, Àve years after.

Kwara Poly Expels Six HND Students over Forged National Diploma CertiÀcates Hammed Shittu in Ilorin The management of Kwara State Polytechnic (KwaraPoly) Ilorin has expelled six Higher National Diploma (HND) students of the institution for their involvement in the submission of fake National Diploma(ND) certiÀcates. In a statement issued and signed by Principal Assistant Registrar, (Academic Matter Board), Mr. Ismail Onikoko

Saliu yesterday said the aͿected students forged their ND certiÀcates for HND admissions. The statement read: “ Sequel to the discovery of your involvement in the submission of fake/forged National Diploma certiÀcates, contrary to the Matriculation Oath you sworn to, the Kwara State Polytechnic Authority has approved your immediate expulsion from the Polytechnic. “Your expulsion is in line with

the provision in the Reviewed Students Information and Regulation Handbook 2019. “You therefore cease to be student of the Polytechnic and should hand over all Polytechnic properties in your possession to the Head of Department or appropriate Polytechnic Authority. “. The statement therefore, advised the aͿected students to comply strictly with the directive to avoid litigation.

%enue Petitions Security Agencies over Rape oI Teenage *irl

George Okoh in Makurdi

The Benue State Government (BNSG) has petitioned security agencies in the state, through the State Ministry of Justice (MOJ) to investigate an alleged case of rape of a female student of the Federal Science and Technical College (FSTC), Otukpo, Benue State. It was alleged that a 50-year

old man (names withheld) who is also a staͿ of the institution was suspended for allegedly raping a 16-year-old SSS 3 female student of the school. We also learnt that the suspect has since been suspended from the institution, following the allegations raised against him over the incident. Speaking with newsmen in Makurdi yesterday, the

State Attorney General and Commissioner for Justice, Mr. Michael Gusa, said government has taken up the matter to ensure that justice is served. He also explained that the ministry has since written the commissioner of Police as well as the Director, State Security Services (SSS) to investigate and bring the culprit to book.

FMN Reward Innovators to Promote Food Revolution Flour Mills of Nigeria Plc (FMN), Nigeria’s leading integrated food and agro-allied group, yesterday announced the commencement of its social impact campaign to encourage and foster innovation within the food systems in the country. The campaign, which is tagged, “FMN Prize for Innovation,” is designed to inspire and revitalize food

production in the country and ultimately contribute to attaining the 2030 Agenda for Sustainable Development. According to the company, each year, the prize will focus on a diͿerent element of the food value chain to generate new and imaginative ways of thinking and encourage novel solutions to established problems. The company said that

starting from today( 8th of December 2021) operators within the food systems, including all activities in the value chain that covers feeding and nourishing people, from growing, harvesting, packaging, processing, transporting, and marketing, can send in their applications for the prize with the prospects of winning the start Prize of N3 million.

ASR AIrica Donates Three Ambulances to ENiti State The Abdul Samad Rabiu Africa Initiative (ASR Africa) has donated three brand-new fully-equipped ambulances to the Ekiti State Government through the BUA Foundation Health Equipment Support Scheme. The donation, according to a statement, was part of the ASR Africa’s commitment to Health, Education and Social Development in Nigeria. This donation to Ekiti State took

to 66, the number of ambulances distributed to 19 states since the start of the COVID-19 pandemic in 2020. Presenting the ambulances to Dr. Kayode Fayemi, the Governor of Ekiti State at the Government House in Ado-Ekiti, the Managing Director, ASR Africa, Ubon Udoh, was quoted to have said the donation was aimed at supporting emergency health response within Ekiti

State in line with the goal of ASR Africa. He further added that, “Ekiti State is the 19th beneÀciary state and enjoined the state government to put it to good use.” Udoh also stated that the ambulance donations were part of eͿorts by the founder of ASR Africa, Abdul Samad Rabiu, to give back to the society in the areas of Education, Health and Social Development in Africa.

WEDNESDAY DECEMBER 8, 2021 T H I S DAY

NEWSEXTRA

Anger, Protest as Truck Kills Students in Lagos

Chiemele Ezeobi, Emma Okonji and Becky Uba Umenyili

Protest erupted at the Ojodu area of Lagos State yesterday after a truck with Registration No. APP 438 YA driven by one Bolaji Kabiru rammed into students of Bab Fafunwa Millennium School, formerly Ojodu Grammar School, killing two, with many others sustaining varying degree of injuries. While the two male students died on the spot, seven females and Àve males, totalling 12, sustained varying degrees of injuries. With support of o΀cers of the Federal Raod Safety Corps (FRSC), the two yetto-be identiÀed students were deposited at the morgue of the Mainland Hospital, Yaba, for autopsy, while the injured victims were taken to God’s Apple City Hospital, Ojodu Berger; St. Michael Hospital, Ojodu; and the Lagos State Emergency Hospital, Tollgate. The incident, which happened on Ogunusi Road, Grammar School Bus-stop, triggered an angry mob, comprising mostly students and hoodlums, who stormed the divisional police station and unleashed mayhem The truck, which was loaded with washing soap, ran into the students at about 3pm,

knocking down unconÀrmed number of students some of them from the Babs Fafunwa Millennium Senior Secondary School and killed over 10 of them on the spot. Angered by the accident, youths sought to lynch the truck

driver, but he was saved by Police from the Ojodu Police Station, who whisked him away to the police station. According to an eye witness, the youths re-grouped and matched to the police station in their numbers, demanding

that the driver be released. But when the police refused to release the driver, the youths went berserk and started vandalising cars parked in the police premises. While the action was going on, others went to the scene of

the accident, and burnt down the truck. Other youths went into rampage and stopped all moving trucks and vandalised them in anger, without sparing some private vehicles that were on the road, close to the trucks at that time.

The situation caused pandemonium as motorists and traders along the Isheri road in Ojodu, scampered for safety, while car dealers and other traders had to lock up their shops for fear of attack by the angry youths.

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Appeal Court AͿrms Death Fintiri Bans Association of Hunters in Adamawa Sentence on Three <oung Men in <ola Daji Sani in Yola

Daji Sani in Yola

The Court of Appeal in Yola, Adamawa State, yesterday a΀rmed the death sentence passed by a lower court on three young men for killing Pastor Hammanjulde Dadon. Justice Chidi Nwaoma Uwa of the Appeal Court, who a΀rmed the verdict of the lower court, also dismissed the appeal seeking to upturn the judgement of the lower court. However, the former High Court Judge, Hon. Justice Abdul-Azeez Waziri, who is now an Appeal Court Judge, had convicted and sentenced the young men to death by hanging for killing the pastor over royalty. Those slammed with the death sentence are Godwin Obidah, 25; Thomas Bitrus,

27, and Hananiya Ezra, 30, of Tashan Rake village in Yola South Local Government Area of the state. The convicts, Obidah, a motorcyclist, while Thomas, a farmer, and Ezra, a labourer, were arraigned before the court where they pleaded not guilty to the two-count charges. According to the charge, the convicts and one Dahiru Mohammed (still at large) agreed to use criminal means on anyone who refused to pay royalty relating to the use of plaster sand in their community. In furtherance of their common intention and use of criminal force, the young men on March 23, 2017, attacked Hammajulde with sticks and cutlasses for refusing to pay them the royalty.

Ugwuanyi Presents N186.64bn 2022 Budget

Gideon Arinze in Enugu

Enugu State Governor Ifeanyi Ugwuanyi yesterday presented a budget proposal N186,635,135,770 for the 2022 Àscal year to the state House of Assembly for consideration and passage. Presenting the budget proposal tagged: “Budget of Sustained Growth and Consolidation”, Ugwuanyi disclosed that it was 9.9 per cent higher than the 2021 budget which was N169.845 billion. The governor noted that the budget proposal was designed to ensure the completion of all ongoing projects across the state, adding that the 2021 budget implementation was aͿected by the many challenges of insecurity

in the country. He explained that out of the total budget size, the sum of N71,477,449,812.00, representing 38 per cent of the total budget is meant for Recurrent expenditure while the sum of N115,157,685,770.00, representing 62 per cent of the budget size will take care of capital expenditure. He maintained that the projections for the 2022 Budget of the state were founded on the economic and Àscal updates of national inÁation rate of 13 per cent; national real GDP growth of 4.2 per cent; oil production benchmark of 1.88 million barrels per day; oil price benchmark of $57 per barrel and exchange rate of N410.15 per United States dollar”.

The Adamawa State Governor, Hon. Ahmadu Umaru Fintiri, has banned the operations of the Professional Hunters Association of Nigeria (PHN) across the 21 local government areas of the state, especially in Demsa, Numan, Lamurde, Guyuk and Shelleng. This was contained in a press release signed by the Press Secretary to the Governor,

Mr. Humwashi Wonosikou. The governor explained that the decision was taken as a result of reported abuses of the rules of engagement and lack of regard to the traditional institution and security agencies. Fintiri said: “The operations and activities of the association in the Àve local governments has become a source of concern and insecurity instead of the security it is fashioned to

provide.” He further explained that the activities of the PHN were capable of causing public disturbance and, henceforth, should desist from performing any function under the guise of providing security to the public. “More worrisome is the fact that the association operates independent of any security organisation in the Àve local government areas, thereby

giving room for suspicion of their motive and intentions, especially that they operate in uniforms of our security agencies and at odd hours,” he added. While emphasising that security is everybody’s business, the governor, however, said: “No group or anybody will be allowed to take the law into their hands, manifest disrespect to security agencies and the traditional institution.”

Navy Hands over 265 Smuggled Rice in Akwa Ibom to Customs Okon Bassey in Uyo

A total of 265 bags of smuggled rice recently seized by the Nigerian Navy, Forward Operating Base (FOB), Ibaka, Mbo Local Government Area of Akwa Ibom State and impounded boats used in the smuggling activities were yesterday handed over to the Nigeria Custom Service (NCS).

The Commanding O΀cer, FOB, Navy Capt. Mohammed Abu, told journalists that the 265 bags of rice were seized from smugglers between November 26 and 29 during routine patrol operations by NNS Thunder commanded by Navy Capt. Christian Akokota. He explained that the smugglers of the rice and the boats had earlier been

handed over to the Nigeria Security and Civil Defence Corps (NSCDC) for further investigation and prosecution. The commanding o΀cer said the seizure was premise on the directives of the Chief of Naval StaͿ, Vice Adm. Auwul Gambo, of zero tolerance to all forms of criminalities on Nigeria maritime domain, particularly, smuggling of

rice and crude oil theft. “Recalled between November 26 and 29, NNS Thunder commanded by Navy Capt. Christian Akokota, siezed cumulatively seven wooden boats carrying petroleum products and other exhibits, inclusive are 265 bags of parboiled rice which had been siezed and kept in the base

Kwara Gov Signs Gender Composition Bill into Law

Hammed Shittu in Ilorin

Kwara State Governor, Alhaji Abdulrahman Abdulrazaq, yesterday in Ilorin signed a bill titled: ¶Political O΀ces (Gender Composition) Bill 2021’, to ensure that women get 35 per cent representation and appointment in the state.

Speaking at a women empowerment programme tagged: ‘Cracking the glass ceiling’, held at Ilorin Township Stadium, the governor said the purpose of signing the bill was to further ensure that the trend of women inclusivity is sustained. The event also commemorated the United

Nations 16 days of activism against gender-based violence which started on November 25. The governor, who said the programme was aimed to bring to the fore the impacts women can make when given a fair competitive chance in all spheres of endeavour, added that the event provided the opportunity

to celebrate women, especially Kwara women, who have carved a niche for themselves in their respective callings. Abdulrazaq also said there should be no limit to the dream and aspirations of every woman and girl irrespective of their religion or socio cultural leanings.

Housing: Sanwo-Olu Warns Govt Officers against Sabotage Segun James

Lagos State Governor, Mr. Babajide Sanwo-Olu yesterday warned unscrupulous government o΀cials that he will not hesitate to boot them out if found wanting. The governor, who said this at the second Lagos Real Estate Market Place Conference and Exhibition with the theme, Lagos: 21st Century Real Estate

Investment Hub, organised by the Lagos State Real Estate Regulatory Authority (LASRERA), lamented that some government o΀cers and developers had cultivated the habit of cutting corners, saying ‘’the lesson we are learning is not lost on us. But I dare say that a month before the Ikoyi building collapse incident we launched a CertiÀcate of Completion and CertiÀcate of

Fitness of habitation of buildings in the state. We had done that with Lagos State Building Control Agency (LASBCA) meaning that anybody that had done proper development to a certain level, you need to get a certiÀcate of completion and a certiÀcate of Àt of habitation from them. “So these are some of the things that from a regulatory point of view that indeed all

the boxes had been ticked. We know for the size of this city there will be people that will like to cut corners, there will be o΀cers that will also bring us down and have reduced our name, we know. We are not going to stand here and say everybody that works for us is holy but we are dealing with them. These are major issues that all of us need to work together and deal with.

WEDNESDAY, ΀˜ ͺ͸ͺ͹ ˾ T H I S D AY

WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

Victor Moses Primed to Return to Super Eagles Duro Ikhazuagbe After Odion Ighalo made a U-turn on his international duty with Nigeria after two years in the cold, Victor Moses appears the next one in line to also return to the Super Eagles after three years he quit to concentrate on his club career. The 30-year-old former Chelsea wing back who has regained his form and doing well with Russian Spartak Moscow last played for Nigeria against Argentina’s Albiceleste in final group game at the St. Petersburg Stadium during the 2018 World Cup in Russia. Moses scored from the spot in that game Nigeria lost 1-2 to the Lionel Messi inspired Argentina and failed to progress to the second round. Nigerian football agent based in Europe, Drew Uyi, confirmed Moses’ plan to accept invite to

the AFCON bound Eagles. Uyi told The Football Showon YouTube yesterday that Moses is returning to don the greenwhite-green again for another one year. “He (Moses) will come back, but he’s not fussy about it,” began the Edo-born football agent. “He is a professional, he will always deliver. “I remember I got him an endorsement around the time he quit the Super Eagles and because the deal was tied to the national team, they pulled the plug on it,” Uyi revealed in YouTube video. With 12 goals from 37 international matches with Nigeria, the former England junior international may, perhaps, increase his tally with appearances in both the AFCON and the final World Cup playoff slated for next year.

Senate Passes Bills for Establishment of NSC, Sports University Deji Elumoye in Abuja

Victor Moses...set to come out of international retirement for Nigeria

Eben-SpiffUpsetsAdebayoinPlayoff to Win Lakowe Club Championship Three-handicapper, Peter Eben-Spiff last Sunday, upturned an eight strokes deficit from the opening round of the 6th Lakowe Lakes Golf Club’s Championship to emerge winner of the event for the third straight time. Eben-Spiff, had trailed early leader, Tunji Adebayo, who shot 75, three over course par and had only hoped to have a decent closing round given the margin he needed to cover if he aspired a win in the closing round. According to him, “I only come to support those I believe were more positioned to win here today,” he revealed moments after he won from the three-hole play-off that the club declared when he returned, a brilliant 76 to tie Adebayo’s closing 84 for joint club house lead. “It is great to have this win. I cherish it and I thank all that gave me the opportunity to rise to the podium here again,” he added. His victory, extended the club’s record on the number of wins (three), and the only player to have done it back-to-back. Adebayo, also a former winner, ties Tim Ayomike and Timothy Maguire as players with one win a-piece. The club championship is

Lakowe Lake’s crowning event for the golf calendar year and this edition was supported by: Mixta Africa, Mainstream Foundation, Hydropolis, Geregu Powerplant PLC, NNPC/Chevron JV, Interswitch, Sparkle, Gremoore,

TotalEnergies, OPAS and DEL. Fatumata Coker, defending champion of the lady’s title, fought off opposition to post a respectable 163 gross score over 36 holes to extend her dominance of the class, same as veteran winner Kim Tai

Chul. Kim, fended off threat from Francis Olo for fourteen strokes win of the veteran’s title. Golf Manager, Femi Olagbenro admitted that this year’s championship is one of the most keenly contested in the club’s history.

The Senate has passed two bills seeking to establish the National Sports Commission (NSC) and the Federal University of Sports, Nkalagu in Ebonyi State. The passage of both bills during Tuesday plenary was sequel to the consideration of two separate reports by the Committee on Sports and Youth Development. Chairman of the Committee, Senator Obinna Ogba, in his presentation, said the National Sports Commission when established, would be charged with the responsibility of administering, encouraging and developing sports and games throughout Nigeria. He added that stakeholders at the public hearing, lauded the legislative intent of the bill, noting that the Commission

Odusanya Claims Seventh Consecutive Asoju-Oba Title Femi Solaja

L-R: Veteran's winner, Kim Tai Chul; Lady's winner, Fatumata Coker; and Overall Winner, Peter Eben-Spiﬀ, displaying their trophies shortly after the 2021 Lakowe Lakes Club Championship closing ceremony at the weekend ...in Lagos

would impact greatly on Nigeria’s youths who aspire to become successful sportsmen and women. Ogba explained that at a time Nigeria was making efforts to diversify its sources of revenue, the establishment of the sports commission has the potentials to help the diversification process for optimum benefit of revenue generation. In another presentation, the ranking Senator said the Federal University of Sports, Nkalagu, when established, would develop and offer academic and professional programmes leading to the award of first degrees, post-graduate research and higher degrees with emphasis on planning, adaptive, technical, maintenance, developmental and productive skills in the engineering, scientific, and allied professional disciplines relating to Sports resources.

Another milestone was set at the just concluded Asoju-Oba Table Tennis Championship as Bose Odusanya yesterday became the first player in the history of the competition to claim seven consecutive titles. She claimed her seventh Women’s Single’s gong at the 53rd edition of Africa’s oldest table tennis tournament with a 4-0 defeat of Kehinde Oyeniyi. The Lagos state champion who was part of the Team Nigeria silver-winning contingent to the 2021 African Championships in Cameroon believes she would continue to dominate as long as she keeps raising her game. Unlike Odusanya, national men’s champion, Rilwan Akanbi

claimed her second title at the tournament after defeating Olakunble Ajulo 4-0 in the final to reclaim the title he surrendered in 2017. Akanbi, who won the 2016 edition of the championships believes reclaiming the title this year did not come on a platter of gold. “I can tell you that it was not easy winning the title this year. It might look easy with the outcome of the result but on the table, it was tough. But in all I thank God that I am able to reclaim the title again after five years,” Akanbi said. Speaking during the finale, the wife of the Lagos State Deputy Governor, Oluremi Hamzat said the tournament has continued to add value by producing talents for the country.

WEDNESDAY, ΀˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

Amaju Pinnick’s NFF and Nigerian Football

t was always going to be difficult assessing how the Nigeria Football Federation (NFF) has faired under Amaju Pinnick. Where do you start from? What would be your parameters for consideration? Would you be evaluating what development he has brought to our football? What structures he has put in place to ensure that we have an efficiently run football federation? Should we judge his NFF from the point of view of the success of our football league and the participation of our teams in international competitions? Whichever way you look at it, the ultimate mark of success is to see the development of our football reflected in how well it is is being run to produce excellent results by our teams whenever they take part in international competitions. Using that as criteria, the conclusion one would come to is that Amaju Pinnick's NFF has not done well in the past seven years it has been in office. Where it has recorded some successes, one finds it difficult to see such achievements being due to any painstaking work being done. In such situations, it has been effective rather than efficient. Take for instance the moderate 'success' recorded by our senior national men's football team in the seven years of Pinnick's Presidency. We are currently the fifth-ranked football team in Africa yet our league has not produced any team good enough to qualify

R-L: Amaju Pinnick with his wife, Julie; FIFA President, Gianni Infantino and FIFA Chief of Global Football Development, Mr Arsene Wenger at the FIFA Arab Cup in Doha...recently for the semifinals of any African competition during the period under review. Ordinarily, our local league should produce players good enough for the Super Eagles yet in the past seven years not up to three have been considered good enough for a fringe role. Our team is largely made up of players who play outside our shores. This is hardly unexpected because under Amaju's supervision, our football league has been operating in fits and

starts with participating clubs unsure of even when the new season would start in earnest. Even now there is a new talk of having an abridged league format for the new season. Worse still, the match officials for last season are yet to be paid! Our age group teams have continued to fail. Once upon a long time ago, we were the dominant force in age-group competitions not only in Africa but also in the world. Not any longer. Qualifying for the U17and U20 FIFA World Cup

is no longer our birthright. We have struggled against countries that are yet to find their football boots! The result of this malaise is that in a few years we will not be able to find replacements for the Osimhens, Awoniyis and Iheanachos who found their way to European clubs by being outstanding in age group competitions they took part in. Women's football is another minus for this administration. Our graph in this field continues to dip southwards. Gone are

the days when our girls strike terror in the minds of would-be opponents. Now, countries that would in the past be afraid to look us in the face are bold enough to tap us on the chest and challenge us to a duel. How did we get here? If you look at those in the NFF you will wonder why we have not been able to get a well-structured body in place. Years ago, Shehu Dikko (then running to be President of the NFF), sent me what he called his manifesto for changes he would effect as the helmsman. It was so well written that if I were in a position to vote I would have no problem voting for him. He didn't win but became first Vice President. Seyi Akinwunmi is another man of repute in our Football House. He is in-fact, also a Vice President. I know one or two more people in the current Board who have a lot of experience as football administrators. I find it difficult to associate them with the ineptitude reflected in this NFF. Some of my colleagues in the media are won't to tell me that

the problem with our country has always been reflected in our football governing body. They claim that the overall interest of our football is of secondary importance. That is why for instance they refused to sack Gernot Rohr when the need was mostly required. They waited till when our nation would suffer most to orchestrate his removal so that in the ensuing confusion they would benefit maximally. That is why when ALL hands should be on desk for both the AFCON and World Cup qualifier they are planning to smuggle their coach in.

A TASK FORCE FOR AFCON...

I don’t know how they will do it but we do need a Special Task Force for the Cup of Nations coming up in five weeks time in Cameroon. The body would ensure that our Super Eagles HAVE all that they need to do well in the tournament. Next year must give us something to cheer. Our Super Eagles can, if we motivate and help them.

Nagelsmann to Field Makeshift Bayern Line-up against Barca Already-qualified Bayern Munich will be without half a dozen players when they host Barcelona in their final Champions League Group E game tonight but will still look to end their group stage with a perfect record, coach Julian Nagelsmann said yesterday. The Bavarians have already

CHAMPIONS LEAGUE qualified for the knockout stage with five wins from five matches so far and will be looking to make it six, with Barcelona, in second on seven points, needing a win to secure the second knockout stage spot.

The Spanish side will also advance with a draw today if Benfica, who have five points, fail to beat last-placed Dynamo Kyiv. Nagelsmann said he would need to replace Leon Goretzka

and Serge Gnabry with both players nursing minor injuries, while forward Eric Maxim Choupo-Moting is still feeling the effects from a bout of Covid-19. The Bayern coach also said Joshua Kimmich – out for four weeks after being quarantined twice due to Covid-19 – Michael

Cuisance and Marcel Sabitzer were not yet fit. "Joshua will be tested Wednesday (today). But it makes no sense given he has been out for four weeks," Nagelsmann told a virtual news conference. "I am happy not to have the pressure to advance because that was our first goal."

TODAY B’Munich Benfica Atalanta Man Utd Salzburg Wolfsburg Juventus Zenit

v v v v v v v v

Barcelona Dynamo Kyiv Villarreal Young Boys Sevilla Lille Malmo Chelsea

UCL RESULTS PSG 4-2 Brugge Leipzig 2-1 Man City AC Milan 1-2 Liverpool FC Porto 1-3 Atletico Ajax 4-2 Sporting Dortmund 5-0 Besiktas Madrid 2-0 Inter Shakhtar 1-1 Sheriff

City End Group Stage with Defeat at RB Leipzig, Walker Sees Red

RB Leipzig players celebrating their famous 2-1 defeat of Manchester City...last night

Manchester City ended their Champions League group campaign with defeat by RB Leipzig in a match played without fans because of Covid-19 restrictions. Pep Guardiola opted to field a strong side, which included a first club start

since 6 November for Kevin de Bruyne, despite last season's runners-up having sealed top spot in Group A with one game to spare. But the Premier League leaders ended the group stage without a clean sheet after Hungary midfielder Dominik Szoboszlai and

Portugal forward Andre Silva scored for Leipzig, who parted company with their manager over the weekend. City also finished with 10 men after Kyle Walker was shown a straight red card in the last 10 minutes for a foul on Silva.

Wednesday, December 8, 2021

UT H

& RE A SO

Price: N250

MISSILE Buba Galadima to Nigerians “Now, there is the likelihood that the fuel price will rise from N165 to N340 per litre, and it will affect everybody living in Nigeria. Don’t you think we need to stand together and fight it? I am ready to lead a protest, but who will follow? Will other Nigerians join me in the fight? If we can’t come and fight, then there’s a problem” ---Northern Elder, Buba Galadima, urging Nigerians to resist the likely fuel price hike next year.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

AilingParties,StuntedPolity T he much awaited verdict of the Supreme Court on the appeal filed by the sacked chairman of the Peoples Democratic Party (PDP), Prince Uche Secondus, will bear resonance in the polity beyond the party. Seondus is contesting the legality of his removal from office as well as the convention of the party, which has produced Dr. Iyorchia Ayu as the chairman-designate of the party billed to be sworn in on Friday. It is expected that the judicial verdict on the legality of Secondus’ removal could be pronounced this week. Essentially, the court is expected to help the party interpret its own rules against the background of the constitution of the country. The significance of the ruling of the highest court in the land on the party’s leadership dispute is huge because, as lawyers would say, that would henceforth be the position of the law on such matters. By the way, the PDP is the only political party of consequence that has essentially maintained its original identity in the last 22 years of this civil dispensation. So, whatever happens to the PDP could as well be a barometer for measuring the condition of party system in Nigeria on the basis of the relative longevity of the party. Beyond legality, however, the dispute in PDP raises the wider historical question of political underdevelopment afflicting the whole polity. The issue is also about the legitimacy of the existing parties as organisations putting forward those to control power. Pundits comment a lot about the socio-economic underdevelopment of the country, but less attention is paid to the development of the polity. Meanwhile, there is the obvious interplay of forces between political development on the one hand and development in the socio-economic realm on the other hand. It takes strong and well-organised parties to present credible candidates armed with well-articulated programmes to provide solutions to myriad socio-economic problems. It’s certainly a measure of political development in the land that all the major political parties are organisationally troubled. For clarity, disputes in the political arena are not necessarily a negative thing since the legitimacy of disagreement of views is the real the stuff of liberal democracy. What is worrisome, however, about party organisation in Nigeria is that unlike elsewhere the disagreements are not based on programmes and principles. The acrimony is always about who controls the party as a special purpose vehicle for elections in the struggle for political power. The differences are not about ideas; the fight is often about raw ambition. As a result of this political defect and structural deformities, political parties have been unable to play their roles as central institutions of democracy. You only hear from the political parties during elections. Admittedly, the presidential system of government structurally keeps the party leadership at the background. But then politics in the parliament is based on the divergence in the policies and programmes of the political parties of the legislators. So, in the United States, for instance, congressmen vote on defence or taxation issues on the basis of the philosophies of their respective parties. Things are even more obvious in the parliamentary system in which the government defends its policies daily during the Question Time in parliament. The opposition takes the opportunity of the interrogation of the incumbent government to present its own alternative policies and programmes to the people.

Uche Secondus The debates are about differences in ideas for solving problems. However, here in Nigeria the heat is always generated over the question of who decides the candidate to fly the party‘s flag during election. The party secretariats do not defend and explain the party programmes whether the party is in or out of power. For instance, the removal of Secondus was not based on the divergence of views on the programme of the party or how it should be executed if the party gets into power. Political parties also have the duty of promoting political education and mobilisation of people for good purposes beyond the electoral seasons. These functions are hardly performed by the current Nigerian political parties. In the process, the political parties are organisationally ailing with the implication that the polity remains stunted. A symptom of the stunted development is the worsening decline in voter turnout in the various elections. The trend is that increasingly fewer voters are interested in who governs them because the people are generally alienated from the system. The implication for the system is that the popularity of the elections is on a downward trend. This also somewhat calls into question the legitimacy of the government. In some quarters, the perception of the parties is that they engage in cynical manipulation of the voters during elections to gain power. What is said of the PDP can also be said of the other political parties. For 18 months now, the caretaker committee that runs the All Progressives Congress (APC) has been unable to organise the party’s national convention to elect its leaders. The organisation of the convention is the primary purpose of the committee chaired by the Governor Mai Mala Buni of Yobe State. The tenure of the committee has been extended twice without results. Instead of the committee being seen a solution, within the recent convulsion provoked by the youth in the party not a few are beginning to see the Buni committee itself as the problem. Again, the quarrel

is not about programmatic differences. You cannot pinpoint in the turmoil the differences of ideas about how to resolve the Nigeria’s multi – sectoral problems. Similarly, in the recent gubernatorial elections in Anambra, the three leading parties in the state had disputed primaries which resulted in litigation. As elsewhere, there were no issues of policy in these intra-party quarrels . This decline in the quality of parties has been variously explained. For instance, the role of the chief executive officers of state who got into power on the party platforms in the distortion of the party system should be critically examined. As aspirants and later as candidates these chief executive officers of state -president and governors - are members of the party, in the first place. In some cases they are among the senior members of the party. As soon as they get elected into office, they assume the powers of the owners of the party. The tendency has been since 1999. A president or governor might not have been part of the formation of the party. He might not even have engaged in partisan politics. With the support of some political forces he could get elected as president or governor. After the election the president or governor begins to take a grip on the party. The chief executive brooks no alterative views on how the party should be organised. The president or governor determines who should be party chairman and when he should be removed. The story is often told how a president made a party chairman to quit office in an action that was akin to acting under duress. After a good meal of pounded yam, the party chairman was given a draft letter of resignation to sign . The chairman signed the letter as directed only for the president to discover it was not properly dated. So the letter was taken back to the hapless party chairman for proper dates. The same political spectacles are so staged at the state levels where the governors treat the parties as mere political parastatals. Some of the governors assume absolute control over the parties. It is intriguing that a president or a governor could fail to reckon with the fact that one day he would be out of office and he might not have the same control over the party. After all, a president or governor who had his party in his pocket 10 or 20 years ago might not wield the same influence in the party today as another man is now in the saddle. This obvious fact seems to be lost on the part of the governors tending to play God in the current politics of the passed electoral bill waiting for the president’s assent. Other useful provisions of the bill have been subsumed in the controversy over the provision for direct party primaries. The governors see direct primaries as a process that could whittle down their enormous powers to

“The formlessness of the political parties of this era is demonstrated by the ease with which politicians move in and out of the parties”

dictate candidates of the party in elections. They forget that the application of the law would transcend their terms of office. The overall effect of the grip of governors on the parties has been that of political suffocation. The parties cannot breathe in alternative ideas. Party supremacy has been replaced with the supremacy of the president or governor in party affairs. The trend of emasculation of the party in this dispensation is in contradistinction with what obtained in the Second Republic. In terms of the provisions on political parties, there is virtually no difference between the 1979 Constitution which was operated in the Second republic and that of the subsisting 1999. Yet the supremacy of the party was asserted in varying degrees. The presidential candidate of the Unity Party of Nigeria (UPN) in the 1979 election, Chief Obafemi Awolowo, was also the leader of the party. The party’s constitution stated so clearly. Other parties, however, made a distinction between the presidential candidates and the party chairmen. A clear example of the separation of the structure of the party from that of the government was demonstrated by the National Party of Nigeria (NPN). The party formed a government after the 1979 presidential election in “accord” with one of the opposition parties, the Nigeria Peoples Party (NPP). President Shehu Shagari, as a leader of the NPN, attended the party caucus meeting in which party chairman Chief Adisa Akinloye presided. Senate President Joseph Wayas (who sadly passed on a few days ago) would also be in attendance as well as Senate Majority Leader Dr. Olusola Saraki among other senior party members. The Speaker of the House of Representatives at the time was Chief Edwin Ume-Ezeoke. He was a member of the NPP, and so could not be part of the NPN caucus. The caucus under the leadership of the party chairman (and not the president) decided on the party line to be pursued in the National Assembly and the executive alike. The NPN secretariat with stalwarts such as Alhaji Uba Ahmed, Alhaji Suleiman Takuma and others vigorously defended the party programmes of qualitative education, Green Revolution, Mass Housing and, of course, national unity, which the party proclaimed as a programme. A similar structure and method were adopted at the state levels. A state chairman of NPN was more than an errand boy of any governor, unlike what obtains today. You might ideologically disagree with the NPN, but you could not deny its organisational character. The party was not amorphous. The formlessness of the political parties of this era is demonstrated by the ease with which politicians move in and out of the parties. There are, of course, no ideological boundaries and the parties are hardly distinguishable in terms of programmes and policies. This lack of organisational character is also a factor militating against maturity of the party and by extension the nation’s political development. Politicians often dismiss the call for a better organisation of political parties as sheer idealism. For them, the real politick is ”winning” on the platform of any party available. But the fact is that the polity is not developing. This pathology of ailing parties deserves a cure. The healing of the parties of their ailment may be the beginning of the process speeding up the growth and development of the polity.

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