THURSDAY 9TH DECEMBER 2021 by THISDAY Newspapers Ltd

UTM, Afreximbank Sign $5bn Financing MoU for Nigeria’s First Floating LNG Emmanuel Addeh in Abuja

Nigeria’s marine and services group, UTM Offshore Limited, and the African Export-Import Bank (Afreximbank) on Tuesday

in Abuja, signed a Memorandum of Understanding (MoU) to raise $5 billion for the development of Nigeria’s first floating liquefied natural gas (FLNG) project. The deal that is in two parts

would see the continental bank raising $2 billion to support the first phase with a commitment to fund the second phase of the project by another $3 billion. Signed by the Group Managing

Director/CEO of UTM Offshore, Mr. Julius Rone, and President and Chairman of Afreximbank, Dr. Benedict Okey Oramah, the MoU paves the way for additional collaboration between the two

entities to support a future final investment decision (FID) on the project, which UTM has been studying and conceptualising since 2020. UTM Offshore Limited was

granted a License to Establish (LTE) by Nigeria’s former Department of Petroleum Resources (DPR) for the installation of an FLNG unit Continued on page 55

S’ Africa: Researchers Produce First Look at How Vaccine Deals with Omicron Variant... Page 5 Thursday 09 December, 2021 Vol 26. No 9740. Price: N250

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RenCap Predicts M&A among Nigeria’s Mid-tier Banks

Reveals tech companies raised $1.4bn Moody: Nigeria’s external reserves to remain strong

Nume Ekeghe and Kayode Tokede

FINALLY, AITEO PLUGS NEMBE LEAK...

Aiteo's Experts and Well Control Advisers have successfully shutdown the leak at SBAS-1 by successfully installing control packages on both arms of the tubing head spool. Both control packages and shut-in well ﬂow are now closed with preparations to further pump kill ﬂuid into the long string. The short string is already killed and dead with zero pressure. Picture shows complete cessation of leak.

Analysts at Renaissance Capital Limited (RenCap), an international research and financial advisory company have predicted that with Continued on page 55

Raid on Odili's Residence: We Shall Resist Clandestine Attempts to Silence Us, CJN Warns Says warrant of arrest must henceforth be approved by Chief Judges Malami commends judiciary for preserving nation's democracy No one, irrespective of his or her status or position in the country, should test our will because the consequences of such unwarranted provocation will be too dire to bear. –Justice Ibrahim Muhammad Alex Enumah in Abuja The Chief Justice of Nigeria (CJN), Justice Ibrahim Muhammad, yesterday issued a strong warning that the judiciary would begin to rise up against what he described as, "clandestine attempt" to silent it in the discharge of its lawful judicial functions. The CJN spoke against the

recent raid on the residence of the second most senior Justice of the Supreme Court, Mary Peter-Odili, by alleged security operatives. Justice Muhammad who said the judiciary would begin to assert itself so as to become the pride of the nation, stated that the judiciary has had enough of embarrassment Continued on page 55

$5BILLION FLNG DEAL...

Chief Executive Officer, UTM Offshore Limited, Mr. Julius Rone (left), and President/Chairman, Afreximbank, Prof. Benedict Oramah, after the signing of a $5 billion MoU for the financing of Nigeria's First Floating LNG in Abuja...on Tuesday

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

NEWS

OILLY MATTERS IN TEXAS... L-R: Chief Executive Oﬃcer, Mid And Downstream Petroleum Regulatory Authority, Mr Ahmed Farouk; General Manager, Technology & Solutions Chevron CTC Wells, Mr Ikenna Chukwumaeze; Minister of State Petroleum Resources, Chief Timipre Sylva; President Chevron Middle East, Africa, South America Exploration & Production Company, Mr. Clay Neﬀ, and Group Managing Director, Nigeria National Petroleum Corporation, Mallam Mele Kyari, during a business meeting, at Chevron headquarters, in Houston, Texas... recently

S’Africa: Researchers Produce First Look at How Vaccine Deals with Omicron Variant Dike Onwuamaeze with agency report Vaccines against the virus that causes COVID-19 may provide less immunity to the Omicron variant than to other major versions of the deadly disease, according to laboratory experiments in South Africa. Researchers at the Africa Health Research Institute in Durban, South Africa (AHRI), found Omicron resulted in about a 40-fold reduction in levels of neutralising antibodies produced by people who had received the Pfizer-BioNTech vaccine, compared with resistance to the original strain identified in China nearly two years ago. According to allafrica.com, the study was a pre-print - meaning a study that was not yet peer reviewed but was released due to its importance. While vaccinated people might be more vulnerable to breakthrough infections with Omicron, vaccines stimulate a wide-ranging immune response that involves more than just antibodies. “So these experiments may not reflect completely how well the vaccine protects against hospitalisation or death from Omicron outside the lab.” It added. AHRI virologist, Alex Sigal told the The New York Times that he and his colleagues had worked at breakneck speed over the past

two weeks to grow the virus and then test antibodies against it. "If I don't die from the virus, I'll die of exhaustion," he quipped. A number of infectious disease specialists, when learning of the Durban results, said there was a need for increased vigilance and for more study, but the good news was that the South African lab found that the vaccine does reduce the risks. It is likely, as well, that boosters will further increase immunity. It noted that the prospect once more raises the urgent issue of the damage that travel bans against

It was Zimbabwe-born Dr. Sikhulile Moyo who was one of the first to genetically sequence the Omicron variant in his Botswana lab. Dr. Tulio de Oliveira, Director of South Africa's Centre for Epidemic Response & innovation warned that the ban had reduced the supply of reagents and other supplies necessary for continued research. The Omicron virus is spreading rapidly in South Africa and has appeared in dozens of countries around the world, in many cases before it was first identified in southern Africa.

The Archbishop of Canterbury, The Most Rev. Justin Welby had on Tuesday 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 a “travel apartheid” and calls for it to be scrapped. In series of tweets on his Twitter handle,@JustinWelby, the Archbishop of Canterbury had 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 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.

Red List: Nigerian Govs Reject UK’s Arbitrary Stigmatisation COVID-19: 3.5 million Nigerians full vaccinated, says NPHCDA NANS urges students to take jab Chuks Okocha and Kuni Tyessi in Abuja The Nigeria Governors’ Forum (NGF) has rejected what it described as arbitrary stigmatisation of Nigerians because of the Omicron variant of COVID-19. Therefore, the NGF has urged the World Health Organisation (WHO) to address the discriminatory attitude of some countries against Nigerians. The National Primary Health Care Development Agency has

Buhari Visits Lagos Today President Muhammadu Buhari is scheduled to visit Lagos State today, Thursday, December 9. The visit was announced in a statement by Tunde Rahman, media aide to the national leader of the ruling All Progressives Congress (APC), Bola Tinubu. According to Rahman, the President will be a special guest of honour at the public presentation of “My Participations,” which is the autobiography of the former interim chairman of the APC, Bisi Akande, at an event that would hold at Eko Hotels and Suites, Victoria Island. According to the statement, Governor, Babajide Sanwo-Olu would be the chief host while Tinubu is the guest of honour for the event. In addition, President Buhari is also expected to commission some

African countries have done to their economies - and to their abilities to continue their ground-breaking Covid research. President Mokgweetsi Masisi of Botswana, where researchers were among the first to detect Omicron, told the BBC that the travel ban has "throttled" the country's diamond and tourism-based economy. Global health specialists largely agree that the bans are unscientific, ineffective and punitive in the current circumstances and may deter other nations from sharing vital research in the future.

projects while in Lagos State. Ahead of the visit, the state government had announced that the Ahmadu Bello Way, Victoria Island, would be shut for four hours today. A statement issued by the Lagos State Ministry of Transportation had stated that government would be diverting Traffic on Ahmadu Bello Way from Adeola Odeku Intersection inwards Adetokunbo Ademola Roundabout (Eko Hotel) from 8:00am to 2:00pm Thursday 9th December, 2021. The Commissioner for Transportation, Dr. Frederic Oladeinde had explained that the route would be temporarily unavailable for motorists to ply, assuring that alternative routes had been mapped out to ease traffic flow within and around the designated route.

revealed that 3.5 million eligible Nigerians had been fully vaccinated against COVID-19. This is as the National Association of Nigerian Students (NANS) has urged all students yet to be vaccinated to take advantage of the mass vaccination to receive their jab in order to protect themselves and their campuses. In a statement, the NGF Chairman and Governor of Ekiti, Dr. Kayode Fayemi argued that Canada and the United Kingdom hastily included Nigeria among the Omicron present countries, an action viewed by the governors as precipitate, unfair and discriminatory. According to Fayemi, "Omicron still remains relatively unknown globally as it is not yet clear whether it is more transmissible from person to person compared to other variants including Delta. "It is very discouraging to note that there are several countries that have reported cases of Omicron similar to or higher than Nigeria’s, that have not been banned from entry to the UK and/Canada." He said confirmed Omicron cases as at December 3rd, across some countries were: Nigeria (3 ); Australia (7); Brazil (3); Germany (9) Israel(4); Italy (9) & Netherlands(16), noting that there were yet to be evidence that harsh, blanket travel bans would protect the countries that impose them. In view of this, he said, "It is ironical that this ban comes at a time when the Director General of

the WHO, Tedros Ghebreyesus, has advised that “rational proportional risk reduction measures” be taken by countries such as screening passengers prior to departure and/ or upon arrival in a country, or enforcing a quarantine period." The NGF therefore urged the WHO to intervene in the matter by setting uniform standards that are acceptable to all for banning countries across the globe. Fayemi therefore said, "As we know, vaccine hesitancy is quite high and for many reasons including disruptive announcements like this which could exacerbate distrust of the vaccine and heighten hesitancy. "World leaders and stakeholders in the West need to remember that with the COVID-19 pandemic, until everyone is free, no one is free. Variants will continue to appear and spread across the globe as long as global herd immunity has not been achieved. "We call on countries to be guided by science and fairness in setting the criteria for updating their red list. We encourage both public and private stakeholders to continue to support vaccination efforts and address hesitancy. We encourage Nigerians not to be discouraged and to get vaccinated as soon as possible," he advised. The chairman of the governors said, "as a platform for the 36 democratically elected governors of the country, the NGF believes it reserves the right to speak for its people. Besides, the NGF was proactive and ahead in the Polio

eradication program in Nigeria, in the country’s response to the Ebola virus, and lately in the response against the corona virus pandemic". He said that health was one of the core mandate areas of the governors’ forum, “and has remained an item on its meeting agenda in the past several months, hence the need to speak against the discriminatory attitude of stigmatisation. Meanwhile, the Executive Director, NPHCDA, Dr. Faisal Shuaib, spoke at an awareness programme for students on COVID-19 vaccine organised by the NANS at the University of Abuja. Represented by the Director, Disease Control and Immunisation, Bassey Okposen, the NPHCDA boss said 6.6 million Nigerians had taken first dose while 3.5 million had been fully vaccinated against the virus. He said the federal government had adequate doses of vaccines in store to cover a large percentage of the population, noting that the country is awaiting about 57 million doses of the vaccine. Shuaibu explained the country needs to vaccinate about 70 per cent of the overall population to reach herd immunity against the virus. "6.6 million Nigerians that has taken first dose. Another 3.5 million of the figure has taken the second dose. We are targeting 70 per cent because the current number is low. "The risk this pose to the nation is that it would give chance for

mutation of the virus. The virus mutates in an environment where the herd immunity is low. And for us as a nation, we have only achieved 3.5 million for the second dose which is very low. This is why mutation can happen so fast. "The UK and few other governments has ban Nigeria. Though not that we cannot travel but when we get there, we have to quarantine for 10 days. The simple reason is that some of the cases of Omicron in UK, the travellers are from Nigeria. That is why they are taken safety precaution. It is not because of the vaccines we are using but because the cases they have for now are from Nigeria. "We have more than enough vaccine in Nigeria for now. We also have a pool of vaccines almost 57million that are awaiting shipment. There is about 40million already in the country and we have secured about 90million doses.” He urged students and unvaccinated to simply take their COVID-19 vaccine, stressing that it, "free, safe, and effective" In his remarks, National President, NANS, Sunday Asefon, said the body had demonstrated acceptance and endorsement for the vaccine. "When the surplus vaccine came in, they invited us. I, as the National President alongside Senate President, National Executive Council Members, and members of the National Secretariat of NANS had taken our first jab to boost students' confidence in the vaccine.

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NEWS

LAGOS ELECTRICITY POLICY STAKEHOLDERS PRESENTATION... L-R: CEO, Infrastructure Credit Guaranty Company Limited, Mr. Chinua Azubuike; Commissioner for Energy and Mineral Resources, Mr. Lere Odusote; General Manager, Lagos State Environmental and Protection Agency (LASEPA), Dr. Dolapo Fasawe; Founding Partner, Aelex, Mr. Soji Awogbade; Governor Babajide Sanwo-Olu; Co-founder, Falcon Corporation, Mrs. Audrey Joe-Ezigbo; Permanent Secretary, Ministry of Energy and Mineral Resources, Ms. Sola Shasore and Managing Director, Sahara Power Group, Mr. Kola Adeshina, during the Lagos Electricity Policy stakeholders presentation, at the Eko Hotels and Suites, Victoria Island,... yesterday

FG Earned N2.81trn from VAT, CIT in Nine Months James Emejo in Abuja

The federal government generated over N2.81 trillion from both Value Added Tax (VAT) and Company Income Tax (CIT) in the first three quarters of the year, the National Bureau of Statistics (NBS) has revealed. While the sum of N1.14 trillion

was recorded for VAT receipts for the period, CIT collections stood at N1.33 trillion. VAT collections for the first, second and third quarters of 2021 amounted to N496.39 billion, N512.25 billion and N500.49 billion respectively, indicating marked improvement in collections over the

corresponding quarters of 2020 when consumption tax amounted to N1.07 trillion. According to the Value Added and Company Income Tax (Q3 2021) report posted on its website yesterday, year-on-year, the VAT upsurge showed growth rates of 52.93 per cent, 56.56 per cent and 17.84 per cent in Q1, Q2,

and Q3 2021. The improvement in VAT collections further confirmed the resilience and recovery of the Nigerian economy following the devastating impact of the COVID-19 pandemic. However, the sectoral distribution of VAT during the review period showed that

Forbes: Okonjo-Iweala, Mo Abudu, President Hassan among 100 Most Powerful Women Dike Onwuamaeze

Three African women were featured in the 2021 edition of Forbes 100 Most powerful Women in the world. They are the Director General of the World Trade Organisation (WTO), Dr. Ngozi OkonjoIweala; The President of Tanzania, Ms. Samia Suluhu Hassan and a Nigerian Media Mogul, Ms. Mo Abudu. Top on the list was the Ex-Wife of Jeff Bezo, Ms. Mackenzie Scott while Vice President Kamala Harris of the United States was ranked second. These women were honoured for overcoming the gender barrier to occupy positions previously dominated by the male gender. Okonjo-Iweala, who became the first women to be on the helms of affairs of the WTO in March 2021, was ranked 91 in the list of 100 most powerful women while President Hassan and Abudu were ranked 94 and 98 respectively on the list. In addition, Okonjo-Iweala and Hassan made the list under Politics and Policy category while Abudu earned her place in the Media and Entertainment category. An economist and international development professional, Okonjo-Iweala has more than 30 years of experience working in Asia, Africa, Europe, Latin America and North America. She has said she believed in the power of trade to lift developing countries out of poverty help them achieve sustainable development. Earlier in her career, OkonjoIweala had two terms as Nigeria's Finance Minister, from 2003-2006 and 2011-2015; she

also briefly acted as Foreign Minister in 2006. She was also Chair of the Board of Gavi, the Vaccine Alliance that has immunised 760 million children globally. Hassan became Tanzania's sixth president and first-ever female leader in March 2021, following the death of President John Magufuli. She rose to the position of vice-president, a role to which she was first elected in 2015. In September, she became just the fifth-ever female African leader to address the U.N. General Assembly where she criticised COVID-19 vaccine inequality. She has also differentiated her leadership from her predecessor by implementing stricter COVID-19 protocols,

including mandatory quarantines for travellers coming from countries with new variants. Forbes said that Abudu is one of the most powerful women in global media. She started her Ebonylife TV, a network that now airs in more than 49 countries across Africa, as well as in the UK and the Caribbean in 2006. “Over the years, EbonylifeTV has struck major partnership deals with Sony Pictures Television, AMC Networks and Netflix. “The deal with Netflix marked the first time an African media company signed a multititle film and TV agreement with the streaming giant.” Abudu was born in London but sent by her parents to

live with her grandmother in Nigeria when she was seven. She returned to Britain four years later. Forbes stated that in 2021, the state of female power around the world looked a bit different than it did just one or two years ago. “Women have gained ground in the c-suite—among the women on Forbes’ 18th annual list of the World’s 100 Most Powerful Women are 40 CEOs, the most since 2015, who oversee a record $3.3 trillion in revenue. But what they gained in the boardroom, they lost elsewhere. For instance, there are two fewer female heads of states than a year ago.” Suluhu Hassan became Tanzania's sixth president and first-ever female leader in March 2021.

other manufacturing activity; professional services activity and state ministries and parastatals accounted for the top three largest share of revenue in Q1 2021 with N49.41billion or 21.97 per cent, N42.50 billion or 18.90 per cent, and N26.96 billion or 11.99 per cent respectively. However, according to the report, non-import VAT (local) was N224.85 billion; non-import (foreign) VAT was N171.66 billion, while NCS-Import VAT stood at N99.88 billion. Similarly, in Q2, the other manufacturing activity, professional services activity and commercial and trading activity accounted for the top largest collections with N44.89 billion or 23.95 per cent, N29.30 billon or 15.63 per cent and N21.96 billion or 11.71 per cent respectively. Also, non-import VAT, both local and foreign stood at N187.43 billion and N207.69 billion respectively, while NCS-Import VAT stood at N117.13 billion. The NBS noted that in the third quarter, the manufacturing activity, information and communication and mining and quarrying accounted for the top three largest share of total VAT – amounting to N91.20 billion or 30.87 per cent, N59.25 billion or 20.05 per cent and N28.44 billion or 9.62 per cent respectively. On the other hand, CIT collec-

tions for the first three quarters amounted to N392.65 billion, N472.07 and N472.52 billion respectively. In terms of sectoral distribution, breweries, bottling and beverages , professional services activity and state ministries and parastatals accounted for the top three largest share in Q1 with N23.26 billion or 15.27 per cent, N18.17 billion or 11.93 per cent and N17.35 billion or 11.39 per cent respectively. Also, during the quarter, local CIT amounted N152.33 billion, the foreign component stood at N184.47 billion while other payments totaled N55.85 billion. However, in Q2, company taxes from professional services, other manufacturing and banks and financial institutions stood at N130.09 billion (31.14 per cent), N87.27 billion (20.89 per cent) and N60.01 billion (14.36 per cent) respectively. Of the aggregate, local and foreign CIT recorded N417.74 billion N51.61 billion respectively while other payments stood at N2.72 billion In the same vein, in Q3, manufacturing activity recorded N64.48 billion; information and communication (N58.15 billion) and mining and quarrying (N36.01 billion) as the top three largest share of revenue at 22.08 per cent, 19.91 per cent and 12.33 per cent respectively.

FG Warns Civil Servants to Prepare for Delay in December Salary

As yuletide draws nearer, workers panic Mba: Agencies assured of payment this week

Kingsley Nwezeh and Olawale Ajimotokan in Abuja

The federal government has advised civil servants to exercise caution in spending their November salary because of the possible delay in the payment of their remuneration for December. The Head of Civil Service of the Federation, Dr Folasade Yemi-Esan issued the advisory yesterday in a circular. She said workers should make provisions for Christmas celebration from their November salary because of recurrent trends of shortfall in budgetary allocation and its attendant effect on payment of salary in recent times across various MDAs. The circular was dated November 25, 2021 and ad-

dressed to all staff, Heads of Departments/units and union leaders was titled:"Envisaged Delay in Payment of December 2021 Salary- a Cautionary Advice." The circular was signed by Dr. S.A. Adegoke on behalf of the Head of Service. "It is noteworthy that while it is important to issue this advice, staff are here by assured that the centre is doing everything within its capability to forestall unnecessary delays. "The contents of this circular should be treated with seriousness it deserves" the circular said. Meanwhile, sequel to notification by the government, there was panic amongst federal workers and personnel

of security agencies yesterday. A memo issued by the Federal Medical Center, Keffi, Nasarawa State, warned staff of an impending delay in the payment of December salaries. In the same vein, a similar memo by the Inspector-General of Police, Mr. Usman Baba, also informed zonal and state commands of the force of an impending delay in the payment of November salaries. Therefore, the situation has resulted to unease among federal staff and personnel of security agencies 14 days to Christmas. But Police spokesman, Mr. Frank Mba, a Commissioner of Police, said federal authorities gave assurances that the payment would be effected before the week runs out.

In a chat with THISDAY, Mba said police personnel were assured of payment within the week. "We have been given assurances that the payment would be made before the end of the week. "Relevant federal authorities gave us assurances that payment will be made this week", he said. Meanwhile, the IG has congratulated the Head of Chambers, Legal Section of the Nigeria Police Force and an Assistant Commissioner of Police, (ACP), Mr. Simon Asamber Lough, who was conferred with the rank of Senior Advocate of Nigeria (SAN). A statement by police said, "the elevation of the officer was on the heels of his outstanding

contribution to the development of law in Nigeria, in addition to his enviable feats in the legal profession. He was sworn in on 8th December, 2021 by the Chief Justice of Nigeria following recommendations and approval by the Legal Practitioners’ Privileges Committee (LPPC)." The statement added: "ACP Simon Lough, a Police prosecutor par excellence, was appointed as a cadet officer (ASP) into the service of the Nigeria Police Force in the year 2000. Twenty-one (21) years down the line in Public Service, ACP Lough has served in various departments of the force including the legal section and held national positions on implementing legal policies for the country.”

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COMMENT

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

DEMOCRACY: A COMMON VALUE OF HUMANITY Democracy is a universal right of all peoples, writes Cui Jianchun

t is solemnly appealed by the Chinese President Xi Jinping during the General Debate of this year’s UN General Assembly that, the international community “need to advocate peace, development, equity, justice, democracy and freedom, which are the common values of humanity, and reject the practice of forming small circles or zero-sum games”. Indeed, as being recognized widely, democracy is a common value of humanity. The world is richly diversified, so does the democracy. Rooted in history, culture and tradition, it takes diverse forms and develops along the paths chosen by different peoples based on their exploration and innovation. Whether a country is democratic depends on whether its people are truly the masters of the country. There is no fixed model of democracy, which manifests itself in many forms. Assessing the myriad political systems in the world against a single yardstick is in itself undemocratic. Democracy is also an ideal that has always been cherished by China and its people. More than two thousand years ago, the ancient Chinese began to explore the concept that people are the foundation of a country. Their ideas contained the seeds of what we know today as democracy. Since its founding in 1921, the Communist Party of China (CPC), which is the governing party in China, has taken the wellbeing of Chinese people and the rejuvenation of the Chinese nation as its abiding goals, and has made continuous efforts to ensure the people’s status as masters of the country. The essence of China’s democracy is that people are masters of the country. Since the 18th CPC National Congress in 2012, with a deeper understanding of China’s path to democracy and the political system, the CPC has developed the Whole-Process People’s Democracy as a key concept and striven to translate it and relevant democratic values into effective institutions and concrete actions. The whole-process people’s democracy in China, which has distinctive Chinese characteristics, exemplifies common values and contributes China’s ideas and solutions to the political progress of humanity. It is a complete system with supporting mechanisms and procedures, and has been fully tested through wide participation. Firstly, insist on the system of people’s congress. It is China’s fundamental political system. People exercise state power effectively through people’s congresses, people’s congresses exercise state power collectively on behalf of the people. The National People’s Congress (NPC) is the highest organ of state power. Local people’s congresses at all levels are local agencies of state power. All administrative, supervisory, judicial, and procuratorial organs of the countries are created by the people’s congresses, to which they are responsible and by which they are supervised. This system makes extensive democracy possible by empowering people’s congresses at all levels, to ensure that the people hold and exercise state power. Secondly, reinforce the system of multiparty cooperation and political consultation under the leadership of the CPC. It is a basic element of China’s political framework, a new model growing out of the soil of China, also learning from others. Notwithstanding outsiders’ misunderstanding, China’s political party system is not a system of one-party rule, nor is it one in which multiple parties vie for power and govern in turn. In addition to the CPC, there are eight other political parties. These parties accept CPC’s leadership, and cooperate closely with the CPC and function as its advisors and assistants. The Chinese People’s Political Consultative Conference (CPPCC) serves as a key element of the multiparty mechanism. This system unites all political parties towards a common goal, effectively mitigating the

WHETHER A COUNTRY IS DEMOCRATIC DEPENDS ON WHETHER ITS PEOPLE ARE TRULY THE MASTERS OF THE COUNTRY. THERE IS NO FIXED MODEL OF DEMOCRACY, WHICH MANIFESTS ITSELF IN MANY FORMS. ASSESSING THE MYRIAD POLITICAL SYSTEMS IN THE WORLD AGAINST A SINGLE YARDSTICK IS IN ITSELF UNDEMOCRATIC

risks of inadequate oversight in one-party rule, and the problems of continual transfers of governing parties and destructive competition in multiparty political systems. Such a kind of consultative democracy is a unique feature of China’s democracy. Thirdly, improve the system of regional ethnic autonomy. China is a unified multiethnic country. This system, which is also a basic political system, means that areas with large ethnic minority populations can practice regional autonomy, establish autonomous organs, and exercise the power of self-governance under the unified leadership of the country. It provides institutional and policy guarantees to ensure that ethnic minority citizens enjoy widely social, economic and democratic rights. Fourthly, conduct the system of community-level self-governance. This system is represented by villagers’ autonomy, urban residents autonomy, and employees congresses. It has strengthened the public’s ability to understand and practice democracy, demonstrating that China’s democracy is extensive and genuine. I should say that democracy is not a prerogative of a certain country or a group of countries, but a universal right of all peoples. A basic criterion of democracy should be about the people, such as whether the people have the right to govern their country, whether their needs are met, and whether they have a sense of fulfillment and happiness. If the people are only awakened when casting their votes and sent back to hibernation when the voting is over, this is not a genuine democracy. Democracy and national governance operate in parallel. One essential feature of a good democracy is that it will promote sound governance and boost national development. Democracy in China means people-centered development that fully mobilizes the initiative of the people, relies on their strength, and ensures that all share in the benefits. This is the key to sound governance and the fount of democracy in China. Meanwhile, democracy is not just about domestic governance, it should also be reflected in international relations. A truly democratic government will support democracy in international relations. It will not foster hegemony and division abroad while building good or bad democracy and unity at home. Using ideology to bring down other countries, and promote a geo-strategy for absolute security will lead to division and confrontation, and are obviously anti-democratic. All in all, there are no identical political systems in the world, neither is there a political model that fits all. Countries can borrow from the successful experience of others and develop forms of democracy suited to their own modernization process. The model that suits best is always the most appropriate. China did not follow the established path of other countries in its modernization drive. Similarly, China did not duplicate other countries’ models of democracy, but created its own. China’s new approach to democracy represents a significant contribution to international politics and human progress. All paths to democracy, layering, grafting, or combination of layering and grafting, chosen by the peoples themselves deserve proper respect. The Chinese people are willing to work together with all other peoples around the world to carry forward democracy and other common values of humanity, add new elements to the world’s political structure, and advance towards a global community of shared future together. Cui Jianchun is Ambassador of China to Nigeria

PRICE-FIXING IN THE ADVERTISING MARKET Martin Ike-Muonso argues that price-fixing interferes in the free functioning of the market

PCON’s decision to develop a set of rules to govern the behaviour of the advertising market participants is highly commendable. There is no doubt that the industry will do much better ‘ceteris paribus’, if it follows through with some of the measures it has put in place. Nevertheless, for this outcome expectation to be a thorough reality, the regulator may need to pay attention to three elements in the AISOP document, which it is about to sign into effect by January 2022. These three factors include: [a] the horizontal price-fixing of pitch fee, which has enormous anticompetition and market shrinking consequences. The others include [b] the double charging of advertisers using a system of a primary pitch fee and a secondary rejection fee which when combined in a single transaction over bloat advertising transaction costs. The third concern is APCON’s planned interference in the setting up of the terms and conditions defining contracts between market participants. To demonstrate the damaging effects of the horizontal price-fixing behaviour in the advertising industry, we have used a simple model that captures the overcharging size at the primary pitch fee level. The model shows, albeit retrospectively, what the magnitude of damage would have been to the volume of above-the-line advertising expenditure in the last seven years if this

policy was in operation. The Media Monitoring Services data showed that the total above the line [ATL] expenditure exceeded N100 billion in 2020. The closest it was to this reference line in the past seven years was in 2015. The ATL advertising expenditure that year was approximately N97.9 billion. It, however, dropped consistently afterwards, to N79.9 billion in 2019. See figure 1. Perhaps, the troubling half-a-decade persistent decline in the volume of ATL advertising expenditure might have contributed to the regulator’s decision to inject morsels of market sanitizing measures to improve its efficiency. Second, it is pretty evident from the data that the potentials of the advertising industry are sub-optimized and goes back to justify the recent actions of the regulator. A consideration of the breakdown of media channels shows that the television medium remains dominant and accounts for more than 50% of the expenditure in 2020. The average share of the TV channel in the overall ATL expenditure was approximately 37% until 2019. The sudden jump to 52% in 2020 was perhaps due to the COVID-19 pandemic that seems to have considerably improved people’s choice of television more than radio, outdoor advertising and the press. Table 1 presents a breakdown of the ATL expenditure from 2014 to 2020. Through its expansion of consumer

choices, advertising pushes the frontiers of aggregate demand and production in an economy. But this role is reciprocally reinforcing as economic growth propels further advertising activities. The exact process leads to economic diversification when the advertising industry becomes more competitive and innovative. Enhanced competition and consequently innovation and growth drive down advertising costs and prices, leading to the increased consumption of advertising services. That is one of the areas where the regulator steps in. Its role in this process beyond the regulation of fraudulent and deceptive messages is to promote better functioning of the market. This expectation is inconsistent with every regulatory attempt to tamper with the market determination of prices and contractual understanding between participants in the market. Economists, development experts and competition specialists have long recognized the destructive impacts of price-fixing in the market. To demonstrate this, we asked a fundamental question: how much damage to the ATL advertising spend since 2014 would have taken place if APCON implemented the currently suggested horizontal price-fixing arrangement over those years. To conduct this simplified estimation, we collected data on the average pitch fees paid by the 20 largest firms across five sectors since 2013. These prices constitute our reference prices or pitch fees. The core of the estimation is

to determine the size of the overcharge, which is essentially the difference between the paid fee minus the reference fee. This difference is then multiplied by the quantity demanded. For simplicity and to determine the effect on the size of advert spend, we assumed that each billion Naira of spending an advert is equal to 500 units of advertising service consumed. To keep the model as simple as possible, we refrained from calculating the deadweight effects based on the consumer surplus and the added adverse impact of double charging. The advertising industry regulators courageous move to reform the industry is entirely laudable and deserves all stakeholder support. Nevertheless, APCON needs to bend backwards and reconsider the dangerous steps it is taking in these early stages by interfering in the free functioning of the market. Regulators in all progressive societies and markets consider this infringement retrogressive. On the contrary, the focus is on ensuring that the market system enjoys tremendous data availability for quick and robust decision-making by the participants in the marketplace. This market promoting route is the pathway that we suggest the regulator urgently takes. Prof. Ike-Muonso is the founder of ValueFronteria, a foremost business data-backed research institute and consults for governments of different countries

T H I S D AY • THURSDAY, DECEMBER 9, 2021

EDITORIAL EFCC, KOGI STATE AND THE N20 BILLION The anti-graft agency should aim at tidying up its operations

he federal anti-graft agency, the Economic and Financial Crimes Commission (EFCC) said last August that it had credible intelligence that funds suspected to be proceeds of unlawful activities were in an account domiciled in Sterling Bank Plc with the name of Kogi State Salary Account. The money, a hefty N20 billion, was a bailout fund to the state meant to pay workers’ salaries but allegedly diverted to an interest yielding account. The state government, however, vehemently denied the allegation. But the EFCC insisted the diverted money had been recovered and transferred to the Central Bank of Nigeria, a transaction reportedly acknowledged by the apex bank. An apparently excited commission said the transfer of the money to CBN “has put paid to any further controversy regarding source and ownership of the funds and most importantly, aborted the funds THE EFCC WILL EARN dissipation.” MORE RESPECT AND But the controTRUST WHEN ITS versy is still far OPERATIONS ARE TIDY, from over. Even DILIGENTLY CARRIED OUT, though the money AND FREE OF ILL MOTIVES is in the CBN coffers, the Kogi State government has continued to insist that it never authorised the opening nor operated the bank account, an assertion conﬁrmed by Sterling Bank. “Let it be known that the Kogi government has disbursed its bailout loans for the purpose of which it was granted as of October 2019,” said Kogi State Commissioner for Information and Communication, Kingsley Fanwo. “There is, therefore, no hidden bailout funds/loan belonging to Kogi that is capable of being returned to the CBN or frozen by order of court. The EFCC knows this, which is why it withdrew the suit it ﬁled in court on the bailout fund.” However, Sterling Bank has admitted that

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Kogi State Bailout Account exists in its record and “categorised under the account type Intervention Fund,” even though it was not opened by the state government or at its instance. All this gives room to so many worrying questions. So, at whose instance was the controversial ﬁxed deposit account opened and when? Who was the signatory to ﬁxing the account on behalf of the state government? How much had been withdrawn from the account since 2019 when the state claimed to have cashed the bailout facility it needed to pay outstanding salaries and allowances to workers? And who is keeping the N666.7 million which made up the balance of N20 billion initially said to be deposited into the bailout account? And now that the money had been retrieved, has the EFCC arrested the culprits? Or is it allowing them to walk the streets free?

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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n assumption of duty as EFCC boss, Abdulrasheed Bawa pledged a paradigm shift in the agency’s approach to antigraft war, from fighting corrupt persons to fighting corruption. But there is still no appreciable change. Bawa has followed the footsteps of his predecessors, carrying out indiscriminate raids, arrests, and lots of media trials. The rate of convictions is still low because many of the cases are not only ill-motivated, but they are also not properly investigated. Indeed, most Nigerians now see the anti-corruption crusade of the present administration as no more than mere drama. Regarding the Kogi State government, the EFCC has done the sensible thing by returning the money to the coffers of the central bank. But the process is untidy. There are too many questions unattended to. And does fighting corruption end with the recovering of illicit loot from people or states? What structures are put in place to prevent further corruption, to act as deterrence? The EFCC will earn more respect and trust when its operations are tidy, diligently carried out, and free of ill motives.

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THE KILLER-BULLIES IN OUR SCHOOLS Continued from the backpage

urrently trending is a video of a female student in her school uniform assaulting a junior female student. The incident was said to have occurred at the Federal Government Girls College, Owerri, Imo State, earlier this year. Besides the fact that we live in a country where might is deemed right and bullying is a national pastime (as is evident on the Nigerian social media), I fail to understand how we can pretend that we do not have a problem that even advanced societies contend with. A 2019 global report, based on a survey of 260,000 teachers across 48 countries, revealed that “Nearly three in ten (29 per cent) secondary school head teachers in England said bullying occurred at least weekly among students – the fourth highest among the 48 countries surveyed.” Rather than being defensive, UK authorities followed up on the report. On 4th February 2020, the House of Commons published a Briefing Paper titled, ‘Bullying in UK Schools’, which disaggregated the survey among EU countries on the percentage of principals reporting that physical and non-physical forms of bullying among students occurred at least twice weekly in their school, based on the same report. On 1st September this year, Northern Ireland introduced new

legislation to deal with the problem of bullying in schools. Last week, France went a step further when its parliament approved draft legislation that would make school bullying a criminal offense punishable by up to three years in prison. The law, expected to be in force by February 2022, would also impose fines for bullying of up to €45,000 on culprits. The pertinent question is: If schools in Finland (where 29.4% bullying was recorded), Sweden (27.9%) and France (27.2%) could have bullies, how do we imagine that the Nigerian school system does not habour such miscreants? On a personal note, I have in the past two decades interacted with thousands of teenagers through a church ministry I superintend. So, I am quite aware that violent bullying, drug abuse, sex (of all variants), alcoholism, cultism and other vices are very prevalent in our secondary schools. We have also seen evidence of that. In April 2017, some male final year students of Ireti Grammar School in Falomo, Lagos State, raped their female colleagues in broad daylight. Following the usual public outcry at the time, four of these animals in school uniforms were arrested by the police. Today, nobody knows what has happened to that case! I started this piece with the recent school killings in the United States. In response to those who question why a 15-year-old boy would face such heavy charges, the Oakland county prosecutor, Karen McDonald said her goal was to reflect the wider impact of the tragedy. “What about all the children who ran, screaming,

hiding under desks? What about all the children at home right now who can’t eat and can’t sleep and can’t imagine a world where they could ever step foot back in that school?” she asked. “Those are victims, too, and so are their families and so is the community.” When tragedies like this happen in other societies, two things usually follow. One, the perpetrators and collaborators are held to account. Since the Lagos State Police Commissioner, Hakeem Odumosu, has already confirmed that five students from Dowen College are currently assisting the police in their investigation, we await the outcome. Two, policies are usually initiated where none existed to deal with such problems. While we expect the coroner’s inquest scheduled for December 15 to unravel how Sylvester (Jnr) died and secure justice for the family, we should understand that this is not an isolated case. It is therefore important that all stakeholders (parents, school administrators, lawmakers etc.) come together to find appropriate measures to confront the menace of bullying in Nigerian schools. I commiserate with the Oromonis on the tragic death of Sylvester (Jnr). And I stand with their resolve to secure justice for him. To rid our education space of killer-gangsters, those who manage our schools cannot continue to inhabit the fool’s paradise that “all our kids are morally upright.” Olusegun Adeniyi, Abuja

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T H I S D AY ˾THURSDAY DECEMBER 9, 2021

POLITICS

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

Tambuwal: I Miss the Debates, Bigger Issues in the National Assembly

Nseobong Okon-Ekong was part of a team of journalists who recently interviewed Governor Aminu Tambuwal of Sokoto State, Chairman of governors elected on the platform of the Peoples Democratic Party and Vice Chairman of the Nigeria Governors Forum on issues relating to his previous assignment as Speaker of the House of Representatives and his current designation as governor

ou operated at the national level as Speaker of the House of Representatives and now you are the governor of your state; what is the experience like being at the national level and coming back home as the governor? These are two different worlds; the House of Representatives at the National Assembly and then Sokoto State. In the House of Representatives, you have representations from over 300 constituencies of Nigerians who are from different and diverse backgrounds. Coming with them are different degrees of experiences; some definitely older than you, some with more academic laurels than you, some richer and wealthier than you and some younger than you. But all are holding equal mandate representing their constituencies with different worldviews and perspectives on issues and all of that. Here in Sokoto, one can say that the people in the state are largely from the same background even though you have the Fulani, Hausa, Zabarmawa, some Kanuris and other Nigerians that are here living with us. It is not the same with what you have at the National Assembly. When you talk about leading the two, where, by the grace of God and the support of my colleagues, I served as the Speaker of the House of Representatives and here that I am serving currently as governor in the last six years, they are different. First is the constitutional role and second, you are dealing with two different sets of people if I may put it that way. Yes, even here, some people are richer than me, some are more educated but in terms of close contact and micromanaging, it is a different ball game. At the House of Representatives, you are first among equals as the Speaker but in the state, it is not the same scenario. In the state, you are the Chief Executive, so it is a different scenario and not as if you are just first among equals. That alone tells you that the experiences are not the same. As governor, I can say you deal more closely with the minutest of issues. As governor, if somebody’s wife has a stillbirth, they say it is you; if their tap is not running, they say it is the governor. So, it is not the same experience either as a parliamentarian at that level or even as a Speaker. That is why I said they are two different worlds and experiences. That relationship, solidarity and working together like school mates exists at the House unlike here where I am the Chief Executive virtually; minus my deputy who was elected alongside with me, every other person is my appointee. It is part of what I am missing and of course, the debate. Most times at the House, you are always talking about national and bigger issues. Insecurity is gradually becoming an issue in Sokoto which hitherto used to be one of the most peaceful states in the country. What is really happening and what is your administration doing to curb the menace? Before you ask me what is happening and what I am doing to curtail it, I will give you a background of how we got to where we are at the moment. Unfortunately, Zamfara State has been the epicenter of banditry and kidnapping in the Northwest. Most of the states including Niger really are getting the heat from Zamfara. And what is the distance between Zam-

Sokoto State. I must commend the security agencies. We have been working together with them with regards to addressing the challenges. We do the much we can and we are still doing a lot because there was never a time any of the agencies approached us for support without getting it. In the last four, five years, we had given out not less than 500 vehicles to security services in Sokoto State. It is on record. How many states have done that? And as I said, we pay them their allowances from our coffers; we are up to date in paying those allowances. I believe you can check what I am going to tell you. We have refurbished all the divisional police headquarters. We are building about 12 new ones for them. So, we have given them every support. We are not sleeping; we have a standing committee that was established under his Eminence, the Sultan of Sokoto (you know he is a retired General), that is also working on the issue of security in the state. We hold regular security meetings. Even two, three days ago, we held one when we took a decision on outlawing self-styled vigilante groups because they were part of the problems in Zamfara State. Again, you know the limitations of every governor in Nigeria. So, for everybody to imagine it as if a governor is not doing what he ought to do, nobody can do what I have told you. I have not seen any governor who has taken a matchete and not to talk of a gun and pursued a bandit or Boko Haram in the bush. At best, it is to support the security agencies and the IDPs.

Tambuwal

fara and Sokoto? Almost about 14 local governments are either neighbouring Zamfara or Niger Republic. And what is happening in the Sahel region, which of course includes Mali, Niger and Central Africa is permeating and creeping into Nigeria. Talking about banditry, ISWAP and all of that, all these agents of instability that are carrying out activities in the Sahel region have a way of finding themselves through our porous borders into Nigeria. So, one by geography being neighbours to Niger Republic is part of the problem and secondly being neighbour to Zamfara, the epicenter of banditry and kidnapping in the North-west. And to a large extent, especially recently, the inability of the security agents or agencies to coordinate their efforts and operations in Zamfara against our own advice by governors of eight states. We have met the President several times in the last three, four years. We even advised Service Chiefs that whenever you decide to undertake this large scale operation, let it be simultaneous. Have a blocking force

in parts of Kaduna, Niger, Kebbi, Katsina and Sokoto, and carry out the operations simultaneously. They did not do that. Secondly, the timing for operation at the peak of the rainy season. One is that the forest is thick; two is that the military and other security agencies do not have the equipment that can move into those difficult terrains. That also did not help matters. So, whenever they carry out an operation and attack on the bandits in the camps, they pander towards states that are close to Zamfara. Instead of the security agencies to get them and do away with them in Zamfara, they disperse them into our state. And most of those that came in to attack our people are as a result of those operations recently. Another also is the fact that as I said before, they do not have enough manpower, firepower and equipment to carry out the operations. So, it is not as if it as about the people of Sokoto State. It is more to do with the situation of our neighbours. Then when you talk about what we have done, there has been a lot of synergy among the agencies in

Are there plans for a regional outﬁt to contain the insecurity situation? I told you that over the years, four, five years ago, we had Northern Governors meeting and we had Nigerian Governors meeting and we have had sub-regional meetings. At a point in time, each of us contributed N100million for operations to be carried out in the affected areas. And for those neighbouring Niger Republic, we have also been having meetings with our colleagues from Niger Republic; we go there and they come here. So, it is not as if we have not been having regional cooperation. On the issue of forming a regional outfit, we have not discussed that because of the perception problem associated with that. But what we have done and we are working with the security agencies is that we try to strengthen our vigilantes at every state level and allow them to work with the security services. The Amotekun or Ebube Agu are not better than the vigilante groups. They are just a similar version of the vigilantes. What we are doing is putting them under some training by the police and then supporting the security services.

Why are you asking me that question? In 2018, I participated in the PDP primaries that held in Port Harcourt and I thank God that I came second. Several people are talking to me to give it a trial. At this moment, what I can tell you is that very soon, I am going to commence my consultations and whatever is the feedback I get and with prayers, I will let my position be known

Southern Governors met and said that the 2023 presidency should come from the South, and we know that you may want to join the race in the next general election, what is your view on that? When you look at my history, I find it difficult to talk about zoning. First, when I got to the House of Representatives in 2003, the ANPP caucus was not comfortable with the leadership style of the then leader of the caucus, the minority leader of the House. Sometime in 2005, there was a change in leadership and at that time, the ANPP had zoned the four principal officers’ positions as follows; Minority

T H I S D AY ˾ THURSDAY DECEMBER 9, 2021

POLITICS leader Kano, Kaduna; Whip Sokoto, Kebbi, Zamfara; deputy leader Borno, Yobo because that was where you had ANPP; and deputy Whip to South South. We had Etiebet from Akwa Ibom. Based on that arrangement, the leaders of the ANPP caucus emerged. When members felt they were no longer comfortable with Dr Salik Ahmed Salik and there was a change, they themselves altered the zoning arrangement. Don Etiebet, the then chairman of the party issued a statement disagreeing with members of the House of Representatives that they must go back to zoning. Meanwhile, the rules of the House provided that the leadership should emerge from among members. So, relying on that, nobody carried out the change of guard and I came; even though I came from the bloc that was supposed to be the Whip of the House by the arrangement of the ANPP caucus, I became the leader against zoning. In 2011, the PDP zoned the Speakership position to the South-west but members of the House of Reps came together to say look, we are looking for a speaker with so and so qualities. They approached me and all that went on, and I emerged the Speaker of the House; not from the South-west. Clearly from the two scenarios, based on the assessment of members, and in their own criteria the type of leader they were looking for, I enjoyed those two privileges in the past. That is why I said that based on my history, I find it difficult to talk about zoning. But 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. Will you again join the presidential race in 2023? Why are you asking me that question? In 2018, I participated in the PDP primaries that held in Port Harcourt and I thank God that I came second. Several people are talking to me to give it a trial. At this moment, what I can tell you is that very soon, I am going to commence my consultations and whatever is the feedback I get and with prayers, I will let my position be known. The Revenue Mobilization Allocation and Fiscal Commission has been going around to change their ratings for states; are you happy with where Sokoto is on the table? It is not about Sokoto. 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 have the lion share but they are looking for resources. Go and ask them; they borrow money to pay salaries. So, 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. There are still many big ongoing projects in your state when you have less than two more years to go; do you think you will be able to ﬁnish the projects with the time available to you or will you leave some of them as abandoned projects? Are you worried about the timing or the resources? Minus any unforeseen developments, as we say in law, Force

Tambuwal

Majeure( COVID-19 was a Force Majeure as it slowed down a lot of things in the world), I can assure you by the grace of God, all of the projects you have seen and those you have not seen are going to be completed by this administration. About timelines, that is why we are committed and we have resources that we are working hard to ensure that we complete all the projects.

state where we do not owe salaries, pension and we are still doing what we are doing. Members of the public are aware that we are not squandering their scarce resources. We are micromanaging and managing the resources effectively. So, they are getting value for whatever taxes they are paying. The trust level of the people on the government has been increased.

Have you been able to improve the Internally Generated Revenue(IGR) of the state since you came in? We have. It was very low until recently because we have introduced a lot of reforms with the state revenue services. We have new laws and rates that we are charging and the management has been turned around. And the level of awareness has been raised that you have to have more money for government to be able to carry out its responsibilities. And the confidence of the people to have a buy in, in generating more revenue is also increased because in the past, they were worried and concerned about whether people would agree to introducing rates or taxes because there was not that confidence that the resources would be judiciously used; and the prudence of management of resources we have been able to do in the past. This is a

You are not owing and projects are going on; people would ask, how are you getting the resources? The key to the whole thing is planning; we plan how to raise money and part of it is the management of what we get from IGR and with augmentation from some loans that we have from both banks and other financial institutions. And most of it, are payable within the lifespan of this administration. You know that banks and financial institutions would not lend money to you unless they are sure that you are healthy and that you can carry it. In any case, they would do the background check to assess and even agree to endorse your request. So, it is a combination of the resources from the FAAC, IGR, loans from banks and financial institutions. Is there a reason that you have consistently allocated more funds

The inability of the security agents or agencies to coordinate their efforts and operations in Zamfara against our own advice by governors of eight states. We have met the President several times in the last three, four years. We even advised Service Chiefs that whenever you decide to undertake this large scale operation, let it be simultaneous. Have a blocking force in parts of Kaduna, Niger, Kebbi, Katsina and Sokoto, and carry out the operations simultaneously. They did not do that. Secondly, the timing for operation at the peak of the rainy season. One is that the forest is thick; two is that the military and other security agencies do not have the equipment that can move into those difficult terrains. That also did not help matters. So, whenever they carry out an operation and attack on the bandits in the camps, they pander towards states that are close to Zamfara. Instead of the security agencies to get them and do away with them in Zamfara, they disperse them into our state

to education and health sectors of your state? The indices on education development of Sokoto State were not encouraging. By the time we came in, we had about 1.6 million out of school children. Also, the indices in our healthcare were not good. So, we did that as a deliberate measure to upscale the quality, numeracy of education in the state, and to address the challenges of Almajarai and out of school children. Yes, because, it is when they are out of school that they engage in all forms of criminality. It is because of this that we decided as a government that we must give priority to education and human capital development. Second, healthcare is of paramount importance. Without a healthy society, you cannot go anywhere. As I have said, the indices have not been good. At a point in time even before I came in, so many of our development partners had written us off because of their experience with the immediate past administration in terms of collaboration, partnership in working together to address some of these challenges in healthcare. By the time we came in, they saw that yes, these are people they could actually do business with. They came back and we assembled experts both in education, healthcare and agriculture. In dealing with our tertiary institutions under education, we set up a committee under Professor Attahiru Jega who advised us on the way to manage our tertiary institutions. So, the reports from these committees, guided and are still guiding our steps in the education sector; be it at basic, secondary or tertiary level. The same thing happened and is happening in healthcare and so also in agriculture. So, we saw the gaps and challenges and the need to really do more in education and healthcare. That is why we have been consistently prioritising education, healthcare and agriculture in that order. Did the committees you set up lead to the establishment of the Child Rights Act in your state? The Child Rights Act has been on the card and table of virtually every government, year in year out, time in, time out even in Sokoto State. The child Rights Act was passed by the National Assembly in 2004. It was not passed because of certain considerations that had to do with culture, religion and beliefs of the people. So, we had to do a lot of sensitization with the Ulamas, religious leaders and community leaders under the able leadership and guidance of His Eminence, the Sultan of Sokoto. It was for us to convince members of the public that look, nobody is trying to Westernise your child by passing the Child Rights law; that was how we were able to build the consensus for us to be able to pass it at the Executive council level. But do you foresee problems in enforcing it? All of the concerns have been addressed by the committee. It is not as if we adopted the Act the way it was without attempting to fine-tune and domesticate it in consonance with the culture and religion of the people. So, I do not see any difficulties. By the way, before even we signed that law, I believe that Sokoto was either the first or one of the very first states in Nigeria to sign a law that made basic education compulsory to every child. So, it is not as if Sokoto is new to it or that the whole idea is coming as a new thing to Sokoto State. We have the contributory health scheme. When you talk about health insurance like Sokoto communities especially, for those who have different understanding of it in terms of Islamic perspective, it is always difficult to convince people to do that. But we were able to do that with the guidance of His eminence, the Sultan of Sokoto and other religious leaders to fine-tune the health insurance laws and make them adaptable to our own situation and we came up with the contributory health scheme. So, it is all about the approach and how you engage the people, how you sensitise and make them to understand and have a buy in of what you are trying to market to them. It also has a lot to do with their trust in the administration.

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FEATURES

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

Redefining Mobility for Nigerians through Bolt Since its inception in Nigeria, Bolt has redefined mobility for Nigerians with seamless and affordable services. Going a step further, the e-hailing giant has continued to explore and implement initiatives and services that contribute to Nigeria’s socio-economic growth. Among these initiatives include the recently announced Vehicle financing partnership with Max Africa to offer Drivers in Nigeria Access to low interest payments on 10,0000 low emission vehicles and yearly driver reward programs. Bolt recently expanded its operations to 33 cities making it the most efficient ride-hailing platform within the region. In an interview with Chiemelie Ezeobi, Country Manager Bolt in Nigeria, Femi Akin Laguda shared stakeholder initiatives, regulation, and safety of the industry, amongst others What do you do at Bolt? lead a diverse team of amazing and passionate Nigerians who are building Nigeria's largest ride hailing community and the fastest growing and most successful company in the sector.

Bolt commenced operations in Nigeria in 2016 and has since transformed the mobility sector. How has the journey been so far? The journey has been very challenging but rewarding; we have been working very hard to build a community where drivers successfully earn the most for their time and passengers can affordably move around their city all in safety. This is built around operational excellence, constantly improving the platform, consistent investment and strong partnership with regulators and other stakeholders. This strategy has helped move from being a new entrant with 13 other companies already live in Lagos at the end of 2016 to being the market leader operating in 33 cities across the country in just five years. But this is just the beginning as the truly hard work starts now. Safety is at the core of the mobility sector anywhere globally. What are some of the safety measures Bolt has put in place to protect users on its platform? The safety of our community of drivers and passengers is critical to the success of our business and we take it very seriously. This is even more important in Nigeria with the various safety challenges that exist in the Country. At Bolt, we constantly strive to find operational and technological improvements that make our communities safer starting with the work we do in onboarding drivers into our community and continuing to the our safety toolkit, which currently includes VoIP calls to secure driver and passenger information, an in-app SOS button linked to available emergency response and more. Our high-priority team monitors and investigates all reported safety-related incidents and escalates to law enforcement agencies to ensure all incidents can be investigated appropriately. Finally, Bolt trips are insured for every driver and passenger on every trip to provide that extra level of confidence. Regardless of all the work we already do, we continue to push for further improvements that will make our communities safer in the future. The regulatory space for ride-hailing is slowly advancing to the level of growth the sector has achieved. How has Bolt collaborated with regulators to ensure collective compliance with the sector? Ride hailing can only be successful in markets where the regulators create an enabling environment and the days where there were no regulations for the sector are far behind. However, Bolt has been very proactive in engaging and supporting the proper regulation of the ride hailing sectors and are usually leading in compliance. We cannot enforce the regulations, that is the role of the regulator, but we can do our part by helping them build these regulations and comply as soon as we can once they are in place. Our solid relationship with regulators in all our markets is a testament to the work our

Akin-Laguda

At Bolt, we constantly strive to ﬁnd operational and technological improvements that make our communities safer starting with the work we do in onboarding drivers into our community and continuing to the our safety toolkit, which currently includes VoIP calls to secure driver and passenger information, an in-app SOS button linked to available emergency response and more team does in this regard. With your driver reward programs and other empowerment initiatives for drivers, Bolt contributes to Nigeria’s socio-economic growth. What other driver support programs

and initiatives should the public expect? Bolt has led many programs in the past that have had a positive impact on the socio-economic growth of the country and will continue to do our part. Programs such as Women

with Drive, CSR initiatives, Voters Education, Supporting SMEs and so on are a reflection of what our teams strongly believe in and we will continue to look for opportunities to do more in the future. Looking at the next five years for ride-hailing in Nigeria, what is the future like for Bolt and what level of advancement do you expect the sector to achieve? The ride hailing sector is still in its early years in Nigeria and there are still a lot of fundamental components that need to catch up with the growth including access to financing, improvement to the road network, effective regulations and so on. But as the fundamentals improve, the sector will continue to grow very strongly for the future and Bolt will be there every step of the way. Bolt’s innovation in the ride-hailing space, sets you apart in your service offerings for customers. Can we expect more from Bolt? Definitely! Our Bolt Food service is the first of many that we will be looking to explore both in Nigeria but also globally. Expect a lot more from us in the future.

T H I S D AY ˾ ˜ ͷ˜ ͰͮͰͯ

#THISISNIGERIA

Kenneth Uttih and ‘Boye Shoroye

Building Collapse: Integrity Gaps In Nigeria’s Infrastructural Revolution

eflecting on the recent building collapse on Gerard Road, Ikoyi, Lagos, Nigeria– a highbrow area reserved for the upper echelon of society, one cannot but wonder at the layers of lapses that eventually culminated in this magnitude of disaster and fatalities. Civil engineers are the custodians of all forms of infrastructure, therefore, the concerns that the tragic collapse of the 21-storey building that was under construction has raised are in order. The built environment, no doubt, is the bedrock of any meaningful national development. The infrastructural revolution across the country testifies of the importance of this sector to our economy, and it comes with its attendant risks to lives and businesses. The success of any infrastructural concern has as much bearing on society as its failure and history is replete with evidence that the latter can be utterly devastating Real estate - a subset of the infrastructural space, has witnessed an unregulated influx of overnight developers in the industry whose aim is profit at all cost. Like the soulless capitalists they are, they have the audience of the unsuspecting investors or clients and are always willing to engage uncertified hands ranging from impostors loitering on the corridors of power, who know nothing about science let alone engineering, to the non-engineers whose affiliation to the profession is tangential. Whilst we may argue about the immediate cause(s) of the collapse, the indisputable fact is that a high-rise building collapsed and lives were lost! These avoidable losses were eventuated by gross negligence on the part of all stakeholders in the industry. Be reminded that every big project starts with an idea. The architect is usually the first point of call whose principal objective is to articulate the client’s brief and translate those lofty ideas into relatable images. However, the architect is limited. Beyond the cosmetics of the building lies the skeletal framework upon which the durability of the building rests. From experience, this is one of the junctures where most clients get it wrong. The focus is tilted more towards finishes and panoramic views projected to potential buyers or end-users whereas less attention is paid to structural integrity. When the motive is an abnormal return on investment over a limited time, reason takes the back seat. Their common way to achieve the end game is to either avoid other consultants or engage quacks whose means of livelihood are dependent upon ignoring the grave consequences of their greedy actions. Other times, the clients are also unaware of the fact that other professionals must be involved to realise their dream buildings. For the building to be approved by the relevant statutory agencies, several professionals which include structural, geotechnical, mechanical, electrical and fire-fighting engineers must make their professional contribution to the building plans. Construction drawings appropriate to the professionals in the built environment are developed and submitted to the statutory agencies for approval, after which the client proceeds to the construction phase and remotely manages the project through a selected contract administrator. Of all the professionals in the industry, the burden of structural adequacy, integrity and stability of the building is on the structural engineer. The structural engineer is responsible for the safety of the building during construction and during its service life in accordance with the design brief. The structural engineer computes all the gravity loads, wind forces, earth forces and other environmental forces that could undermine the stability of the building, and therefore design the building to resist them. The structural engineer also ensures the durability of the building carcass in the event of a fire. The structural engineer accounts for all the loads

The collapsed building site at Gerard Road, Ikoyi

(weights) the building shall be subject to during the construction and service life, from the point of application to a safe stratum in the soil. The structural engineer is also responsible for the choice of construction materials based on the strength of constituent materials or a composite of materials. These and many more are reasons why the structural engineer is considered the risk owner in the event of structural failure and therefore deemed liable. Inputs from geotechnical engineers whose responsibility includes assessing the strength of the soil underlying the proposed building and jointly recommending the type of foundation suited to the building based on a combination of soil information and site realities are very fundamental to the stability of any building. Any mistake from any of these two professionals at the early stages of their work has a high probability of surfacing during construction or the lifetime of the building. To become a licensed engineer in Nigeria, you will require special training which includes a minimum of five-year university engineering education and a minimum of four-year post-graduate work experience in an engineering discipline. So how is it possible that people who are not trained to do engineering jobs actually do them in Nigeria? The regulating government agencies - Council for the Regulation of Engineering in Nigeria (COREN) and the Nigeria Society of Engineers (NSE) are not just doing enough! The other question right now is, why is it that most of the building collapses we have in Nigeria happen in Lagos despite the presence of a state-backed agency responsible for building control and given that the Ikoyi collapse was still under construction? The Lagos State Building Control Agency (LASBCA) has the responsibility of building control in all its ramifications. This includes but is not limited to approving the commencement of construction after obtaining a development permit; inspection and certification of various stages of building

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construction; and identification and removal of distressed and non-conforming buildings. All the responsibilities listed above require engineering and technical skills to deliver the desired result. Lagos State has witnessed several building collapse disasters over the years. The textbook reaction of the government includes setting up a panel to investigate the disaster. The report of the panel is usually classified, and it is difficult to determine if there was proper closure and punitive measures appropriated to all defaulters. It is now a big embarrassment to an emerging megacity with unfavourable implications on foreign direct investments into the real estate sector. Regarding the collapse of the 21-storey building on Gerard Road, Ikoyi, it was alleged that in February 2020, the structural engineering consultant, Prowess Engineering Limited, withdrew their structural engineering consultancy services through a letter to the client - Fourscore Heights Limited - who doubles as the contractor, after consistent cases of construction errors and malpractices. The ill-fated building was sealed up in 2020 but reopened four months after. Who overruled the decision? We hope the investigative panel by the Governor of Lagos State, Mr Babajide Sanwo-Olu executes the job objectively in order to unravel these questions. In the wake of the nation’s infrastructure revolution, the big question now is how can we put a stop to this menace that is bedevilling our country? It is very easy to point accusing fingers at anyone involved in the real estate sector value chain, but of course, the onus lies on government regulators who must ensure that engineering and construction activities are carried out by only licensed engineering professionals with the requisite skills and experience needed for such complex endeavours. Government regulators must provide information and education to citizens on the roles of different professionals required to initiate and complete a building project, whilst ensuring that usurpation of the role is discouraged and erring professionals are brought to book.

The buck does not stop at the doors of only the development and building control agencies. Engineering professional regulatory bodies like the Council for the Regulation of Engineering (COREN) must work hand-in-hand with the development and building control agencies, providing the much-needed oversight of their personnel regularly, and also ensuring that building constructions are only carried out by firms and professionals licensed to do so according to the COREN Act, 2018 as amended. The Nigeria Society of Engineers (NSE) should complement the activities of COREN by also being a watchdog with its large membership of engineers across the country. Whistleblowing and reporting illicit and wrong construction practices within the borders of Nigeria should be encouraged. Corruption among regulatory officials is a major factor encouraging sharp practices on site. It is therefore imperative that the approval process for construction permits is made digital just so it is transparent, thereby curbing sharp practices endemic at the statutory agencies. As credited to Albert Einstein, “Insanity is doing the same thing over and over again and expecting different results”. We have another chance to review and reimagine the way the construction industry operates in Nigeria. We can choose to be proactive today rather than being reactive when the next building collapse happens. This reactionary approach only recently snatched over 40 lives in the 21-storey building disaster at Gerard Road, Ikoyi. We can jointly put a stop to these avoidable disasters if the regulatory bodies in charge of engineering practices in Nigeria stand up to be counted. t ,FOOFUI 6UUJI JT B SFHJTUFSFE FOHJOFFS XJUI UIF $PVODJM GPS UIF 3FHVMBUJPO PG &OHJOFFSJOH JO /JHFSJB BOE B NFNCFS PG UIF QJPOFFS DPIPSU PG UIF 4DIPPM PG 1PMJUJDT 1PMJDZ BOE (PWFSOBODF 411( h#PZF 4IPSPZF JT B SFHJTUFSFE FOHJOFFS XJUI UIF $PVODJM GPS UIF 3FHVMBUJPO PG &OHJOFFSJOH JO /JHFSJB BOE B DIBSUFSFE NFNCFS PG 5IF *OTUJUVUJPO PG 4USVDUVSBM &OHJOFFST

THURSDAY DECEMBER 9, 2021 •T H I S D AY

THURSDAY DECEMBER 9, 2021 • T H I S D AY

THURSDAY DECEMBER 9, 2021 •T H I S D AY

T H I S D AY ˾ THURSDAY, DECEMBER 9, 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

8 , 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

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10%

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Ahead of 5G Rollout, Telcos Seek Regulatory Intervention to Enhance Early Approval for 5G Mast Installation

Emma Okonji With the planned 5G network rollout in Nigeria next year, coupled with the high speed of internet connectivity with low latency that come with 5G technology, telecoms operators have called for quick regulatory intervention on the part of the Nigerian Communications Commission (NCC), in order to facilitate early approval for the installation of additional telecoms masts for 5G rollout.

The telcos raised fears about the regulatory tussle between the National Environmental Standard Regulatory Agency (NESRA), the Federal Ministry of Environment and the NCC, over the regulation of telecoms masts installation, a situation, which the telcos said, had brought about unnecessary delay in getting approval for the installation of telecoms masts. The telcos who spoke at the ‘Talk To The Regulator Forum’ organised by NCC in Lagos, insisted that

the NCC must intervene fast in the regulatory tussle, to enable the operators obtain early permit for 5G network rollout within the shortest time frame, since 5G network rollout comes with faster interconnection speed. The telcos were of the view that any delays in giving approval for telecoms masts installation, would adversely affect the planned 5G network rollout in Nigeria by 2022. Associate Director, Regulatory Services, IHS Towers, Mr. Damian

Udeh, who spoke on behalf of telecoms masts installers, said with the low latency of 5G, there was need for faster approval of shorter distance for cell sites and telecoms masts, and that such approval must not be delayed in any way. In order to achieve faster approval time for cell site installation, Udeh advised that NCC should give approval-in-principle for cell site and mast installation after the commission must have gone through the documentation

submitted by the operators seeking for such approval. He said the approval-inprinciple would enable the operator to commerce the installation immediately, while the joint regulatory team will later inspect such installation site to ensure compliance with all the specifications contained in the documents that had already been submitted by the operator. According to Udeh, the regulator could decommission any telecoms

masts and cell site that are under construction, should the operator fail to comply with the given specifications for telecoms mast installation. He said the initial specification for the installation of telecoms masts was 10 metres setback, which was later reduced to 7.5 metres setback and later to 5 metres setback. Responding to reactions from Continued on page 30

Foreign Trade Records N3.02trn Deﬁcit in Q3, Merchandise Now N13.28trn with India as Nigeria’s Major Trading Partner James Emejo in Abuja Nigeria’s total external merchandise trade recorded a N3.02 trillion deficit in the third quarter of the year (Q3 2021) as imports significantly outweighed exports, leading to unfavourable

trade balance, the National Bureau of Statistics (NBS) said yesterday. However, total foreign trade stood at N13.28 trillion, indicating an increase of 10.43 per cent compared to N12.03 trillion in Q2. According to the

Foreign Trade in Goods Statistics (Q3 2021), which was posted on the NBS website, imports value stood at N8. 15 trillion in Q3, an increase of 17.32 per cent compared to N6.95 trillion in the preceding quarter. On the other hand, total

exports stood at N5.13 trillion in Q3, representing an increase of about 1 per cent compared to N5.08 trillion in Q2. According to the NBS, the top five traded export products during the review period included petroleum oil and oils obtained from

bituminious minerals and crude all valued at N4.02 trillion or 78.48 per cent of total export. Others are natural and liquefied gas which accounted for N487.49 billion or 9.50 per cent of export; floating or submersible drilling or

production platforms valued at N163.70 billion or 23.19 per cent of export; urea, whether or not in aqueous solution valued at N107.17 billion or 2.09 per cent and other petroleum gases etc in gaseous state valued at N40.47 billion or 0.79 per cent of total

export. Similarly, the country’s top traded import products included motor spirit ordinary which gulped N1.05 trillion or 12.91 per cent of imports; durum wheat (not in seeds) N315.17 Continued on page 30

MAARRKKEETT DDATA ATA AASS AT AT W WEEDDNNEESSDDAY, AY, DAEUCGEUMS B T E1R1 ,8 ,2 02 20 12 M ONNDDSS FFGGNN BBO DESCRIPTION 11.668 FGNSB 9.091 FGNSB 15-AUG-2021 11-DEC-2021 10.301 FGNSB 13.402 16-AUG-2021 12-DEC-2021 11.150 FGNSB 7.144 FGNSB 11-SEP-2021 15-JAN-2022 12.364 FGNSB 13.125 12-SEP-2021 16-JAN-2022 12.175 FGNSB 16.39 27-JAN10-OCT-2021 2022

BILLS

OTC FX F U T U R E S

100.09 100.12

3.16 4.63

Change Change (%) (%) 0.00 -0.02

100.10 100.26

3.16 4.60

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9-Sep-21 NTB 27-Jan-22

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100.67 100.41

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3.15 4.00

3.16 0.00 0.00 4.03

100.80 101.16

3.12 3.71

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30-Sep-21 NTB 24-Feb-22

3.25 2.45

0.00 0.01

NTB 10-Mar-22 14-Oct-21

3.35 4.31

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101.47 101.97

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3.08 3.43

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Change(%) (%) Discount Yield Change

26-Aug-21 NTB 13-Jan-22

3.00 3.69

3.00 0.00 0.00 3.71

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

AUG29 252021 2021 421.18 420.93 NGUS DEC

SEP26 292022 2021 422.61 422.38 NGUS JAN

OCT23 272022 2021 424.04 423.83 NGUS FEB

3.26 0.00 0.00 2.46

NOV 24 425.28 NGUS MAR 30 2021 2022 425.46

3.37 0.00 0.00 4.36

DEC 27 29 2022 2021 426.89 426.73 NGUS APR

CCPs Ps MATURITY

Discount Discount Yield Yield Change Change(%) (%)

MREP CP CP XIV XXXI CMBL 13-AUG-21 6-DEC-21 UNCP CP XXXVII III 27MREP AUG-21 14-DEC-21 VAAG CP 27MTNN CPIIV 17AUG-21 DEC-21 TTNG CP III1731FDHC AUG-21 DEC-21 SIBP CP PARP CPIII2-SEP3021 DEC-21

9.02 6.95

9.03 6.95

4.26 14.20

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10.20 7.85

10.25 7.87 0.00 -0.01

4.59 7.85

4.60 7.87

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4.13 5.90

4.14 5.93

0.00 0.00

0.00 -0.02

THURSDAY, DECEMBER 9, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

L—R: Polaris Bank MD/CEO, Mr. Innocent C. Ike; the Overall Winner Mrs. Oluwatosin Ogunbanjo, Founder, Avenue 7; 2nd Runner-up, Tunde Issa, Founder, RoyalKlassicKoutoure & 1st Runner-up, Victoria Udoh, CEO, Vudoh, Convener of the Fashion Souk, Mrs. Yewande Zaccheus at the just concluded Fashion Souk held in Lagos… recently

FG to Recover N1bn Debt from Non-commercial Users of Radio Frequency Spectrum, Gives Three Months Ultimatum Emma Okonji The Federal Ministry of Communications and Digital Economy, has revealed a whopping N1 billion debt owed it by noncommercial users of Nigeria’s radio frequency spectrum, who have refused to renew their operational licence in the last 10 years, and has given all debtors, three months to regularise their usage of the radio frequency spectrum. The ministry however projected that the accumulation of debt owed the ministry by organisations that deliberately refused to obtain their operational licence, yet they operate with the radio frequency spectrum, may have reached N1trillion in the last 10 years. The ministry disclosed this in Lagos recently, during a stakeholders’ forum on sensitisation on sustainable frequency spectrum management development for non-commercial radio frequency users. Permanent Secretary, Federal Ministry of Communications and Digital Economy, Mr. Bitrus Bako Nabasu, who addressed the media at the forum, said organisatiins and institutions, including bandits and terrorist groups that are using the radio frequency spectrum illegally, are creating national security threats, apart from frequency interference. “W are aware that some organisations and institutions who are non-commercial users, are making use of the radio frequency illegally, but what baffles government the most is that terrorist groups also use the radio frequency spectrum illegally and they obtain it from online stores. “Although the ministry has

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)

monitoring equipment to monitor those using the radio frequency spectrum illegally, but the range of coverage is limited and cannot reach inside the forest and deep territorial waters. However, our monitoring equipment can detect those using the radio frequency illegally within the cities,”Nabasu said. He therefore called on all non-commercial spectrum users, especially those using the radio frequency without government approval, to regularise such usage with the ministry, within the next three months, without further delay. Radio frequency spectrum is a specific range of frequencies of electromagnetic energy that is utilised to communicate information. Its applications are important for society such as radio and television broadcasting, civil aviation, satellite, defense and emergency services

depending on specific allocation of radio frequency. The Federal Ministry of Communications and Digital Economy in line with its mandate, is saddled with the responsibility of managing Radio Frequency Spectrum for non-commercial users. The Minister of Communications and Digital Economy, Dr. Isa Ibrahim Pantami, in his opening speech, said: “The radio frequency spectrum is a national scarce resource, and in view of its importance, there is the need to regulate and manage its usage in order to minimise interference and ensure that radio spectrum is used to its most efficient manner for the public. This is in compliance with the International Telecommunication Union and World Radio communication Conferences resolutions.” Pantami who was represented by Nabasu, highlighted some of

the challenges in managing the radio frequency spectrum for non-commercial users, to include: National security threat, Frequency interference and Unauthorised usage of radio frequency spectrum by non-commercial operators. According to Pantami, out of 300 frequencies that were monitored recently by the ministry, 106 of them were found not licensed, therefore defrauding government of huge sums of money. He said most of the users of the unlicensed radio frequencies that were identified in 2019 and requested to regularise their operations were yet to do so, two years after, and that the ministry received several complains of interference from different organizations within the last five years. “Within the period 2020 up till date, a total of 242 organisations

have failed to renew their licences, and over N1billion of accumulated revenue fees owed the ministry by various organisaations within the last 10 years could not be recovered. Pantami added that within the last five years, a total number of 32 organisations nave failed to pay for their frequency assignment fees, adding that there are several cases of under declaration of number of radio stations and that the organisations whose waivers were withdrawn and were asked to regularise their operations, are yet to comply with the directive, two years after. Speaking about the implication of all the challenges, Pantami said the action could lead to harmful interference to the authorised users, threat to national security and severe revenue loss to the government. “These implications are impacting

negatively on spectrum management for non-commercial users. Thus, becoming a herculean task that government alone cannot tackle. Consequently, it has become imperative to engage the general public and the stakeholders to brainstorm on the way forward, ”Pantami said. Pantami therefore called on all defaulters to regularise their operations, renew their licences and pay arrears of their outstanding renewal bills. “All non-commercial radio frequency spectrum users that have defaulted and are in breach of the regulations are therefore given three months grace to regularise their operations and process their Radio Communication Licences. Thereafter, the Ministry will be constrained to employ legal means to address these issues,” Pantami said.

Kyari Advocates More Oil, Gas Investments to Tackle Global Energy Crises Peter Uzoho The Group Managing Director of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari, has advocated for more investments in the oil and gas sector to effectively tackle the current global energy crises. Kyari made the call yesterday while speaking at the 23rd edition of the World Petroleum Congress held in Houston, United States. Kyari, who spoke on the theme: “Building Partnerships,” described the choice of the topic as apt because partnership remained an essential component for creating synergy in the delivery of value to various stakeholders and guaranteeing of energy security.

He said, “Our industry is faced with a multitude of challenges. One of which is the requirement for a careful balancing of the aspirations of energy transition and energy security. “This balance directly impacts energy investments and capital attraction for the development of fossil fuels. The lack of investment capital for oil and gas is already creating energy crises around the world. “Who would have ever thought that the price of natural gas could sell as high as $60 per MMBtu. “It is important to pinpoint the fact that the energy and economic security of many resources rich countries is heavily dependent on the development of their

hydrocarbon resources. “This is an important source of generating revenue, providing employment and alleviating energy poverty in these countries while ensuring that the world never lacks the energy it requires to function effectively.” Kyari told participants at the event that the challenges facing the sector was stifling supply sources, adding that this was what was creating shortage of energy supply to the world. He said time has come for all players in the global oil and gas industry to collaborate in creating partnerships for the development of the technologies and funding that were required to achieve energy transition,

energy security and value to shareholders. The NNPC GMD explained further that the national oil companies as resource owners, needed investment to derive economic value from those resources while investors needed stable markets and regulations to make healthy returns. He added, “Today, regulation is creating a capex gap, especially to those of NOCs where we see about 50 per cent reduction in investments. “As technology, innovation, stiff competition for capital and market volatility continue to generate huge waves, the strength in our partnerships, as we transit, will remain our

key survival strategy today and in the future.” Speaking on the Petroleum Industry Act (PIA) 2021, he said through the legislation, Nigeria has renewed its commitment to attracting investments in the oil and gas industry. “The Act provides the needed improvements in fiscal and governance frameworks, emphasizes transparency and accountability as well as provides a level playing field for all players. “This is indeed a new dawn for investors as well as our National Oil Company, NNPC, that is transiting to a commercially oriented limited liability company,” he added.

Barkindo: Oil, Gas Extinction Talks Misguided Emmanuel Addeh in Abuja Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr Sanusi Barkindo, has said that any talks about oil and gas going into extinction in the coming decades are misguided. Speaking at the 23rd World Petroleum Congress Plenary Session on “Energy Transition: Scenarios for the Future”, in the United States, Barkindo said that neither science nor statistics support that position. Stressing that public discourse around energy, climate and sustainable development continues to be extremely emotive, he noted that it was evident in Glasgow, with

many voices from the petroleum industry excluded from speaking. “At times, the narrative around the energy transition has been overtaken by emotional outbursts, with rational discussions based on facts, hard data and science, taking a back seat,” he noted. The secretary general stated that the complexity of the challenge calls for an inclusive approach; not the pursuit of a single ‘one size fits all’ panacea, insisting that to reduce emissions requires a delicate balancing act, with all voices heard, and listened to. He argued that focusing on only one of the issues, while ignoring the others, can lead to unintended consequences,

such as market distortions, heightened price volatility and energy shortfalls. Describing climate change and energy poverty as two sides of the same coin, Barkindo noted that the world needs to ensure energy is affordable for all and a more inclusive transition. He maintained, however, that what is clear is that the world will need more energy in the future, with OPEC’s recently released World Oil Outlook (WOO) 2021 seeing global energy demand expanding by 28 per cent by 2045. “For oil and gas, there are some who believe that these industries should not be part of the energy future, that they should be consigned to the ‘dustbin of

history’, and that the future is one that can be dominated by renewables and electric vehicles. “It is important to state clearly that the science does not tell us this, and the statistics related to the blight of energy poverty do not tell us this either,” he posited. While admitting that renewables are coming of age, with wind and solar expanding quickly, Barkindo said that even by 2045, it is only estimated to make up around 24 per cent of the global energy mix. He reiterated that oil and gas combined are forecast to still supply over 50 per cent of the world’s energy needs by 2045, with oil at around 28 per cent and gas at just over 24 per cent. In terms of electric vehicles,

the OPEC helmsman stated there is no doubt that they will continue to see expansion in the transportation sector, but that the share of electric vehicles in the total road transportation fleet is projected to expand to only close to 20 per cent in 2045. He argued that OPEC fully believes that the oil and gas industries can be part of the solution to tackling climate change, and evolving the energy transition. He listed carbon capture utilisation and storage as well as blue hydrogen and the promotion of the circular carbon economy, to improve overall environmental performance as key to energy sustainability.

THURSDAY, DECEMBER 9, 2021 ˾ T H I S D AY

BUSINESSWORLD

BRANDS

DStv’s Campaign as Promotion of Talents, Consumer Engagement In its new Television Commercial, which was primarily conceived to serve as a story bed to lay DStv’s end of year promotional offer, the Pay TV company and its creative partner –X3M Ideas, give the public clue on talent promotion as well as how best to deepen relationships. Raheem Akingbolu writes

o a larger degree, DStv has, over the years in Nigerian market demonstrated that its success in the market is not enough to encourage complacency. While competitions struggle daily to catch up with the brand, its promoters are not only winning with product offering, they are also winning with advertising as they are always fast to register DStv on the conscious mind. In the just unveiled television commercial which was purposely used to announce the DStv’s end of year promotional offer, the TVC was brilliantly explored to address the conflict between Pere also known as the General and Maria, both housemates in the just concluded Bigbrother Season 6 ‘Shine Your Eyes’. Through a well scripted story line and a convivial scene, the TVC shows General and a friend as they deliberate on what gift to offer Maria to impress her. First, they thought of an Ultimate adventure but it wasn’t appealing, then drama and music but none could solve the problem as Maria remains unconcerned. At the end, they settled for the big one –the DStv Premium Gift, which combines all shades of entertainment. Immediately Maria sighted it, she jumped at it with admiration and it instantly performed the magic and won her over. Beyond the drama, Multichoice thus uses the TVC to make a clarion call to its teeming subscribers on how to make their family and friends happy this yuletide season. Obviously

aware that the yuletide season is a time of bonding for family and friends, the TVC has simply given DStv subscribers the hint of where the happiness is during this period. Looking back, one can easily conclude that DStv is a gift that never stops giving. For decades now DStv Nigeria has been in the frontline of plumbing the depth of Nigeria’s entertainment space. Amongst all the amazing local production they put their heavy financial muscle behind is the wildly popular Bigbrother Naija reality TV show. For weeks on end the show keeps Nigerians entertained. It also serves as an incubator for harnessing the talents of young Nigerians who always leave the show as big stars. Last year, during the gradual ease of the lockdown orders imposed by both the Federal and state governments to curb the spread of the coronavirus disease Multichoice applied what many described as a balm to the economic injuries through ‘We’ve Got You campaign’ The ‘We’ve Got You campaign’, according to the company, was its way of showing appreciation to its loyal DStv and GOtv customers for their support and patronage during these challenging times. The campaign, which ran from 20 April to 30 June, 2020 offered active and disconnected DStv and GOtv customers the opportunity to enjoy discounts and get upgraded to the next viewing package when they pay the fee of their current package. Through it, all active and disconnected DStv customers on Compact Plus,

Honeywell Sets Sights On Key Growth Sectors David Adeleke

here are numerous reasons why Nigeria, a member of the Next Eleven (N11), the eleven countries that are said to have the potential to become the next biggest economies in the 21st Century by Goldman Sachs, has increasingly been viewed as a viable attractive investment destination. Like other countries in the group, ‘Nigeria’s attractive demographics, increased domestic consumption and other factors could make it a significant contributor to global growth in the next decade’. The story of investment in Nigeria would be incomplete without mentioning Honeywell Group, a family-owned investment holding company of Nigerian heritage which has a stated vision of “creating value that transcends generations”. This is why during the centenary celebrations in 2014, Honeywell Group was recognized by the Federal Government as one of the top 100 companies in the country. Founded in 1972 by Dr Oba Otudeko, Honeywell Group, started as a food trading company servicing the West African region before pivoting to importing a variety of goods for the domestic Nigerian market. Since then it has evolved to become an investment company with interests across various sectors of the Nigerian economy including foods, real estate, energy, infrastructure, financial services and many more. The group’s participation in these sectors is done through companies such as Anchorage Leisures Limited, Uraga Real Estate Limited, Pivot GIS Limited, HOGL Energy Limited and until recently Honeywell Flour Mills Plc (more on this later). Honeywell Group has a rich pedigree of making strategic investment moves, which has seen it enter new sectors through partnership and exit investments at opportune times for both the Group and its portfolio companies. Examples abound including its early investment in Econet Wireless, Nigeria’s first GSM operator to go live, which it successfully exited through a sale to Airtel, to the transfer of its significant holdings in Fan Milk Nigeria to the Abraaj/Danone Consortium. Honeywell Group’s divestiture from

Honeywell Flour Mills Plc (HFMP), which will see the Group transfer a 71.69% stake in HFMP to Flour Mills of Nigeria (FMN) is another recent example. The transaction, still subject to regulatory approvals, is a move by both companies to create a more resilient national champion in the Nigerian foods industry while ensuring that thousands of jobs will be preserved, and thousands more will be created in the future. This combination of FMN and HFMP will bring together two trusted and entrenched brands, creating a single entity that is better positioned to benefit the growing Nigerian population and leverage opportunities stemming from the African Continental Free Trade Area (“AfCFTA”). The World Bank highlights AfCFTA as “a major opportunity for African countries to bring 30 million people out of extreme poverty and to raise the incomes of 68 million others who live on less than $5.50 per day.” Once it has been successfully implemented, the AfCFTA will advance trade operations that minimise bureaucracy and make customs procedures simpler. This, according to the World Bank, could drive at least $292 billion of the $450 billion in potential income gains. AfCFTA also opens up opportunities for organisations

that are looking to tap into the vast network created by a market of 1.3 billion people connected across 55 countries on the continent, all with a combined GDP of$3.4 trillion. This, in essence, creates a foundation to change the fortunes and economic realities of more than 30 million people currently living in extreme poverty. This kind of playing field is one that the deal between Honeywell Group and Flour Mills of Nigeria Plc sets the new combined entity upon. Usually, transactions like this raise questions of job security. How many staff will be retained? How many will be let go? Those are important questions worth asking. However, according to official statements, the merger is “about creating a stronger combined business” to enhance growth prospects and potential future job creation. It isn’t expected to impact the workforce or operations of either business heavily. According to Honeywell Group, the sheer size of the transaction will provide employees of the consolidated company with even more opportunities to develop their careers and improve the quality of their skills within the parameters of a new and enlarged organisation. In theory, this means the new company will have even more fuel to inject more jobs into the economy.

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Compact, Confam, Family, Yanga and Access packages got discounts of up to 44 per cent. With the 2021 end of the year TVC, Multichoice Nigeria has also successfully answered the frequently asked question on what happens to the housemates in the popular Big Brother Naija reality show, after leaving the house. In what looks like a resonance with the adage that charity begins at home, the company has taken a lead by settling for the two housemates as the major characters in the new TVC. It would be recalled that Pere and Maria were two of the very popular housemates in the Big Brother Naija season 6 Shine Your Eyes. They started as friends on the show and parted with a cloud hanging on their relationship by the time curtain was drawn on the show. The beauty of this TVC is the brilliant exploration of the conflict between the two former housemates, using it as a story bed to lay DStv’s end of year promotional offer. The beauty of it all is the backward integration of building the stars on their own platform, empowering them economically as they are besotted by other brands by way of endorsements. In a way, this shows deep faith and commitment in the stars the platform created by including them in their own advertising. This TVC is heartwarming and sprays the joy of the season in the atmosphere. It was developed by DStv’s creative partner X3M Ideas, the agency with offices in several African countries. X3M Ideas emerged as the creative agency of the year at LAIF Awards 2021. One incontrovertible fact is that companies and brand custodians often leverage visuals to tell their stories in memorable and vivid ways that may deliver more impact and emotion than words alone. Artful, custom and unique photography can transcend the mundane observable facts of a scenario.

It is for this reason that many top brands in Nigeria are falling over one another to be associated with the Big Brother Naija to further engage their targeted audience ahead of competitors in their respective industries. BBNaija is popular for its heavy dose of escapism. Every day, Nigerians are faced with multidimensional challenges that put a strain on the mind. Watching these people’s true nature revealed during the course of the show builds a strong connection that’s evident in the fandom displayed on social media. As a result, Big Brother Naija turns out to be a rollercoaster for fans, viewers, and generally every Nigerian who nurses interest in pop culture. When one considers it from this perspective, the hit TV show is defined by its economic value. In fact, the entire show is profitable for everyone involved in the creation, marketing, and advertisement. The participants are almost always in a better financial position after they leave the house. Sponsors get their value in advertising and PR. Everyone involved in the show ends up a winner one way or the other. The media value of sponsoring BBNaija according to experts surveyed is in billions of Naira, somewhere around N10 billion. The eyeballs, conversations and general awareness generated by the show make it a viable option for brands looking to get the word out about their business. A glance at the profile of the creative agency behind the campaign under review reveals a one-stop-shop marketing communications company that’s 100% built on ideas. In the recent time, X3M Ideas has not only become a leading agency in the continent, it has continued to clinch laurels within and outside Nigeria. Last year, the trailblazing Nigerian agency won bronze at Lisbon Advertising Festival for its International Women’s Day press campaign Make History Equal For Women.

T H I S D AY ˾ THURSDAY, DECEMBER 9, 2021

BUSINESSWORLD

INTERVIEW

‘Nigeria’s Pool of Talented Youths Will Drive Digital Economy’ Managing Director for Africa, Tek Experts and Elev8, Lars Johannisson, speaks on technology development in Nigeria in the last four years, and how the pool of talented youths in Nigeria, attracted Tek Experts to establish presence in Nigeria. Emma Okonji presents the excerpts: new technology skills, and they are eager to learn and compete with the men folk. We have trained a lot of Nigerian women in technology skills and I can tell you that they are eager and willing to learn new skills. The Nigerian women that I have met in the course of technology training, do not see technology as a man’s prerogative, and they are willing to compete with the males at any time.

Tek Experts has been in Nigeria in the last four years, driving technology skills development. How will you describe your operations in Nigeria in the last four years? t has been a learning journey, emotional and passionate journey and above all, a fantastic journey for Tek Experts in Nigeria. It has been a journey about technology growth and working with people with the right talent and skills. Tek Experts has seven locations around the world, United Staes, Coasterica, Bulgaria, Nigeria, Vietnam, China, and we recently established our latest location in September this year in Rwanda.

What are your core values and how are these values impacting on your staff? Our core values are unique to us and to all our staff at Tek Experts. Our core values drive our passion to learn and work to achieve result, and several of our staff members have benefited from our core values. One of our core values is ‘Stronger Together,’ which is all about team work amid collaboration. Our core values offer staff the opportunity to grow bottom to top within the organisation. We have had several cases of young recruits who showed enthusiasm in the Job and we have helped them to grow rapidly. Some have climbed from trainees to Instructors and Senior Instructors at Tek Exerts, so much so that they can train people who work under them. I take pride in ensure that people learn and we recognise hard work and promote those that are hard working.

How many partners is Tek Experts working with in Nigeria and how will your partnership help Nigeria in her journey towards technology growth and development? We started our partnership programme with Microsoft, four years ago and we have solidified that partnership in the last four years. We have expanded our partnerships to other organisations in Nigeria and our partnerships have grown so well in Nigeria. Again we have more clients now than when we started in 2017 and we have broadened our base with different products in the last four years. So how will your describe your growth trajectory in the last four years? We are convinced that our strategies to set up Tek Experts in Nigeria, has been very successful. We are even surprised at our growth trajectory in Nigeria, because we have grown faster than we expected and our performances have been awesome. I can attribute the tremendous growth recorded by Tek Experts to the sudden spread of COVID-19. While some organisations could not continue their businesses as a result of the pandemic, we saw the business opportunities in the spread of the pandemic and we took advantage of it to expand our growth strategies. We had the solution to the challenges created by COVID-19 and we used the solution to work with our customers, and that propelled our busness growth. Looking at your contributions to technology development in Nigeria, how will you describe the talent pool that Tek Experts have raised so far in terms of numbers? Nigerian population is huge and we have more youthful population I Lagos. Before Tek Expert came into Nigeria four year ago, the country already had great pool of talented youths, but not fully leveraged to full capacity. So what we did at Tek Experts, was to leverage on that pool of talent skills of youths and upscaled it further to the fullest capacity by empowering them with modern technology skills. As saw the talent pool in Nigerian youths and that was what attracted us to establish Tek Experts in Nigeria. So we saw the talent pool in the Nigerian youths and we further upscaled their skills for global competition. There has been shortage of specialised technology skills in Africa and the rest of the world. How will Tek Experts help to develop such skills in Nigeria?

Johannisson Shortage of specialised technology skills is a global phenomenon. However, what we saw among Nigerian youths, is a growing pool of talented youths who are willing to learn new skills. Our contributions technology skills development in Nigeria is ongoing. We have hired exiting talent pool among Nigerian youths and we have trained several of the youths in digital skills. We have trained over one thousand youths and we are working to get more partners among different administrations in Nigeria and among mobile broadband players, so that together, we can collectively contribute to Nigeria’s technology growth. What kind of technology skills do you think are ideal to drive digital transformation in Nigeria, especially at this era of new normal that the COVID-19 presents to everyone? Technology is evolving and there is need to have cloud-based technology skills that will help individuals and organisations conveniently take their data to the cloud and effectively manage it there in the cloud, through remote control and management. So I will recommend that everyone should have basic knowledge of cloud computing. Universities should begin to redesign their curriculum to accommodate cloud computing

and organisations should begin to retrain staff on cloud technology skills. How will you describe the growth of the Nigerian economy in the last four years, in relation to digital transformation? Nigeria is doing well in terms of technology growth and digital transformation. Nigeria, which is the largest economy in Africa, has experienced the largest development of innovative apps tgat have been showcased from Africa. Nigeria, Kenya and South Africa are the top three African countries that are doing very well from Africa, in therms of technology growth. The reason being that Nigeria, Kenya and South Africa have the highest number of challenges that technology solutions can address, and this is largely due to population growth, especially in Nigeria. Again the Nigerian youths have the entrepreneurial spirit to achieve results, no matter how difficult the business environment can be. The more there are challenges to solve, the more solutions developers will develop solutions to address the challenges. What is your view about Nigerian female participation in technology development skills and how open are they in learning technology skills? Nigerian Female are very open to learn

How is government policy in Nigeria affecting your kind of business and how friendly are those policies to business growth? Tek Experts is a global company, and as a global company, we are fully compliant government laws and policies wherever we operate. Nigerian being one of the seven countries we currently have presence, we resolve the policy of Nigeria to a great deal. So far, there has not been any government that is negatively affecting our kind of business. Lagos State government, for instance, has much respect for Tek Experts. We work with the Lagos State government and we have cordial relationship with the federal government. Nigerian government is keen at local content development to drive her digital transformation initiative. How will Tek Experts key to this initiative and help government to achieve faster result? Every emerging economy like a Nigeria, work Witt different players to boost home-grown technology. In supporting the initiative in Nigeria, Teck Experts have been involve in mentorship programmes for Nigerian youths, which seeks to grow local content development. Many Nigerians are in the employment of Tek Experts in Nigeria, learning new technology skills that will upscale local content development. Many of them have even left us to establish their own startup companies and they are fixing well. What is the business relationship between Tek Experts and Elev8? Tek Experts and Elev8 are part of the same group, While Elev8 is a spin-off from Tek Experts, as a result of the need to train more people in technology skills. So what we do, is to train people on new technology skills and we partner with organisations to train Nigerians in digital skills.

AHEAD OF 5G ROLLOUT, TELCOS SEEK REGULATORY INTERVENTION TO ENHANCE EARLY APPROVAL FOR 5G MAST INSTALLATION telecoms operators, the Executive Commissioner, Stakeholders Management at NCC, Adeleke Adewolu, said there was an initial specification of a setback of 5 meters for the installation of telecoms masts, but that in spite of the specification, there was regulatory overlap between the National Environmental Standard Regulatory Agency (NESRA), the Federal Ministry of Environment and the NCC, over the regulation and issuance

of approval for the installation of telecoms masts. He said the Minister of Communications and Digital Economy, Dr. Isa Ibrahim Pantami had to set up an inter-ministerial committee to address the issues resulting to clash of regulatory interests. According to Adewolu, “Another operator also raised the issue of community challenges faced by telecoms operators in rolling out telecoms infrastructure across the country, and it is time

for NCC to address all of these issues in order to create the enabling business environment for the successful rollout of 5G network in 2022. NCC will intervene in the regulatory tussle among the regulators and also engage with the communities that are creating challenges for telecoms infrastructure rollout.” Director, Technical Standards at NCC, Bako Wakil said NCC understood all of those challenges, and that the commission had since

reduced its interim approval time for the rollout of telecoms infrastructure. Wakil however called on telecoms operators to be more innovative in the planned rollout of 5G network. He said operators should think of new methods of installing telecoms masts, that is different from the usual installation of 35 metres high telecoms masts, which he said would cluster the environment

if the same high-rise masts that were used for 2G, 3G and 4G rollout, “would also be applied for 5G rollout, given the fact that 5G network comes with lower latency and shorter distance for cell sites and telecoms masts installations.” “So with 5G network rollout, it will be absurd to have high-rise telecoms masts installed in every 100 metres to 200 metres space. So there should be an innovative way

of installing cell sites for 5G rollout. If telecoms operators are thinking of implementing 5G network rollout in the same fashion and manner in which 2G, 3G and 4G networks were implemented through high-rise mast installation, then 5G rollout is not going to work. So telcos must be creative and innovative with 5G rollout because of the low latency and high capacity that are associated with 5G network rollout,” Wakil said.

FOREIGN TRADE RECORDS N3.02TRN DEFICIT IN Q3, MERCHANDISE NOW N13.28TRN WITH INDIA AS NIGERIA’S MAJOR TRADING PARTNER billion or 3.87 per cent; gas oil N225.63 billion or 2.77 per cent; used vehicles, with diesel or semi-diesel engine of cylinder capacity less than 2500cc, N185.41 billion or 2.27 per cent and cane sugar meant for sugar refinery valued at N135.37 billion or 1.66 per cent of imports. According to the breakdown of export trade, crude oil accounted

for N4.02 trillion while the noncrude oil was N1.10 trillion out of which non-oil exports component was N546.27 billion. India is the country’s major trade partner, accounting for N784.14 billion or 14.8 per cent of total exports from Nigeria while Spain accounted for N627.01 billion or 12.2 per cent of exports. Italy was third major trading partner

with N446.04 billion or 8.7 per cent. The total value of trade in agricultural goods in Q3 stood at N868.5 billion, the export component amounting to N79.4 billion and agricultural goods imports gulped N789.1 billion. Agricultural goods exports value was 5.9 per cent lower than Q2 but 31 per cent higher than Q3 2020, the NBS added.

On the other hand, the value of imported agricultural goods was 21.01 per cent higher than the value recorded in Q2 and 56.74 per cent higher than Q3 2020. During the quarter, agricultural goods exports were driven by good fermented Nigerian cocoa beans worth N27.2 billion, of which N9.7 billion, N6.18 billion and N5.7 billion were exported to Indonesia,

Malaysia, and the Netherlands respectively. The total value of trade in manufactured goods stood at N5.19 trillion in Q3 with the export component valued at N295.03billion while the import component valued at N4.90 trillion. The solid minerals trade accounted for N72.4 billion, the export component valued at N18.3

billion and import at N54.1 billion. The report also showed that the leading port of operation during Q3 was the Apapa Port with goods worth N4.66 trillion exiting the country through the port. The PortHarcourt (3) recorded N307.38 billion in shipment to other partner countries while the Tin can Island port was exited goods worth N103.77 billion.

THURSDAY, DECEMBER 9, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

Samsung Heavy Industries Nigeria Diversiﬁes into Container Operations Peter Uzoho As part of its efforts to sustain its contribution to the economy of Nigeria and to boost its revenue in the era of ‘low season’ of offshore projects, Samsung Heavy Industries Nigeria (SHIN) has partnered with COSCO shipping Lines (Nigeria) Company Limited on handling and storage of empty containers at the SHI-MCI yard. The empty containers handling, and storage business will be an alternative potential business to earn revenue during ‘low season’ of offshore project while creating more job opportunities for Nigerians. COSCO SHIPPING Lines is a fully owned subsidiary of COSCO SHIPPING Holdings Company Limited mainly engaged in domestic and international maritime container transport services and related businesses, as the group’s core business sector. By the end of December 2020, COSCO SHIPPING Holdings Company Limited owned and operated 423 container vessels with a total capacity of 2.3 million, ranking the third position in the world in terms of shipping capacity. COSCO SHIPPING Lines also operates 399 international and domestic shipping routes. Recognising SHI-MCI Yard’s state of the art facilities paired with technological expertise of Samsung Heavy Industries, COSCO has requested SHIN to undertake handling and storage of empty containers at SHI-MCI yard for their regular ships, up to three voyages per month. The estimated contract duration, subject to final agreement, would be one year and may be extended for another six months term subject to the written mutual agreement of both parties. With the Apapa gridlock, which has crippled businesses, SHI-MCI will provide a suitable and alternative location for shipping agents for storage of their empty containers reachable by barge/vessel. A maritime industry data showed that in 2019, Nigeria container port throughput was 1.4 million containers. Forty per cent of 46,000 containers

per month were between Nigeria and China, while 116,000 containers per month were for other parts of the globe. COSCO owned more than 10,000 TEUs of empty container at several loading bay of port terminals, that is, APMT, Five Stars, TICT and circa 2,000 TEUs export/import weekly in regular basis. These should be ready to be transferred to SHI-MCI FZE yard, as SHI-MCI FZE has received National Operating License from Nigeria Export Processing Zones Authority (NEPZA). These operations include Berthing of barges at the SHI-MCI FZE Quay wall for the offloading of empty containers; storage of empty containers at SHI-MCI FZE Laydown area; and the berthing of feeder vessel at the quay to backload the empty containers unto the vessels for shipping. The empty containers will be evacuated to be exported to Cotonou Port (Benin), Lome Port(Togo), Tema Port (Ghana) and Malabo (Cameroon). Under the arrangement between SHIN and COSCO, every empty container, which will be arriving the SHI-MCI yard shall be inspected, tagged and sealed prior to evacuation and own its unique registration number that will be handy to identify, relocate and segregate with other containers. Samsung Heavy Industries, the parent company of SHIN, is widely recognized as one of the world’s leading oil producers for its accumulated shipbuilding technologies in offshore development facilities. It has also built more Floating Production Storage and Offloading (FPSO) units than any other shipbuilder around the world. The SHI-MCI yard operated by SHIN is hailed as the most advanced fabrication and integration yard in West Africa and was built in Lagos to make Nigeria a hub of integration and fabrication of Floating Storage Offloading (FPSO) vessels, LNG tankers, ship repairs and shipbuilding in sub-Saharan Africa. The Yard had made history as the first integration quay in Africa to receive a 330-metre long Egina FPSO unit for the installation of six

topside modules that were fabricated in Nigeria. To ensure that the yard was not idle during the ‘low season’ of offshore projects, an international vessel christened ‘PACIFIC RUBY’ berthed at the yard earlier this year, which was the second major project to be handled at SHI-MCI after the sail away of Egina FPSO. The vessel has since departed the shores of Nigeria after a successful completion of the maintenance works by SHIN at the SHI-MCI yard. The resumption of operations at the SHI-MCI yard has given a boost to the efforts of SHIN to use the yard and this will reduce the level of unemployment in the country as more manpower will be engaged in the yard. The renewed activities at the yard will also generate revenues for the various Nigerian government agencies, thus ensuring a beneficial situation for all stakeholders.

Handling and storage of empty containers at SHI-MCI yard in Lagosn

African Blockchain Lab Raises $6m Strategic Funding to Drive Adoption in Africa Emma Okonji

African Blockchain Lab (ABL), has announced that it has received a $6 million Series Pre-A investment to fund the launch of its crypto wallet called VIBRA, designed to drive the mass adoption of digital assets in Africa. It added that the Pre-A round was co-led by a consortium of global investors, including renowned African venture capital firms Lateral Frontiers VC, CRE Venture Capital, Musha Ventures as well as international blockchain investors Dragonfly Capital, Hashkey Capital, SNZ Capital, Fenbushi, Cadenza Capital, Head and Shoulder X, LeadBlock, Hash Global, Bonfire, Krypital, Despace, and more. Co-founder of African Blockchain Lab, Vincent Li, said: “African

Blockchain Lab was founded with a singular mission - to drive the mass adoption of digital assets and blockchain technologies in Africa. With the backing from our strategic investors, we intend to bring world-class tech stacks, projects and innovation to the African continent, starting with our first product VIBRA.” Lateral’s Steven Grin, said: “Crypto adoption in Africa is growing exponentially. In fact, we believe that crypto can realize its potential as a technology and asset on the continent while also deepening financial access to the millions left out of traditional financial services. We have seen the importance of user-experience and community building when adopting new technologies and we are confident in VIBRA’s

management team mission of making crypto a mainstream product for African consumers. ” Managing Partner at CRE Venture Capital, Pardon Makumbe, said: “We believe Africa has a generational opportunity to build a more collaborative and inclusive financial ecosystem using decentralized technologies, in which all players are winners. We are excited to partner with the world class team at Vibra to make this happen.” Partner at Dragonfly Capital, Mia Deng, who expressed her belief in VIBRA, said: “Dragonfly has a long history of investing in infrastructure companies for the crypto asset class, from Bybit to Amber Group. We are bullish on the category as trading and investing are typically the first use cases for adoption in any emerging markets,

therefore infrastructure companies should be built to facilitate these activities. Over the past years we are starting to see the surge of trading in Africa, but we believe this is just the beginning. VIBRA is well-positioned to deliver a great product for day-to-day African users.” Speaking about the potential if African countries, the Managing Director of HashKey Capital, Deng Chao, said: “We always believe Africa has a huge potential for crypto trading. And trading is not only an investment action, it’s also based on local demand for payment and currency stability. VIBRA has a great resource of use cases, which can facilitate them deploying in-app crypto trading and payment. We believe they can fulfill their vision of crypto mass adoption.”

NCC Releases N5m to Support Startup Development, Local Content Emma Okonji Nigerian Communications Commission (NCC) has released N5 million as grant to three top winners of the 2021 Emerging Technologies Research and ICT Innovation Competition and Exhibition. The overall winner got N2.5 million while the first runner up got N1.5 million and the second runner up got N1 million. The Emerging Technologies Research and ICT Innovation Competition and Exhibition, is an annual competition, organised by NCC to promote startups development and to boost local developed solutions that address specific needs of organisations. Our of 44 applications received by NCC this year, the top 20 were shortlisted and were made to pitch their solution before competent judges, before the three top finalists emerged. The pitch was held this week at the Digital Bridge Institute in Lagos. Speaking at the opening ceremony, the Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta said: “Through the exhibition, the commission will assist contestants build rewarding and sustainable business partnerships, find best business innovations that have the potential to succeed in the commercial environment, and provide opportunity for them to present their plans to a group of local and global venture capitalists.” Danbatta who was represented by a senior management staff at NCC, Mr. Chimezie Amadi, said: “By this,

ICT innovations will be promoted in ways that improve the nation’s ability to compete in the global economy, increase investment in youth and promotion of Tech Hubs and Startups for new business delivery breakthroughs and also enhance digital economy, in line with NCC’s Strategic Vision Implementation Plan SVIP (2021-2025). The Executive Commissioner, Technical Services at NCC, Ubale Maska, said: “At the close of entry on November 29, 2021, 44 valid proposals were received from 42 contestants each with unique digital product/ service for meeting industry and societal needs. However, at the end of the two stage assessments by the Judges, the top three Startups that emerge winners will be rewarded with cash prizes ranging from N2.5 million for the overall winner, N1.5 million for the first runner-up and N1.0 million for the second runner-up respectively. The Research and Development Department will continue to work assiduously towards the meeting the objective of the Nigerian Communications Act 2003 which states inter alia “encourage the development of a communications manufacturing and supply sector within the Nigerian economy and also encourage effective research and development efforts by all communications industry practitioners”, while supporting management in driving the digital Nigeria agenda of the federal government.”

INSURANCE BROKERS…

L-R: Deputy President, Nigerian Council of Registered Insurance Brokers, Tunde Oguntade; President, Nigerian Council of Registered Insurance Brokers, Rotimi Edu; Vice President, Nigerian Council of Registered Insurance Brokers,Ekeoma Ezeibe; Managing Director, Enterprise Life Assurance Nigeria Limited, Funmi Omo; Executive Director, Technical, Enterprise Life Assurance Limited,Femi Ogundeji and Executive Secretary, Nigerian Council of Registered Insurance Brokers, Tope Daramola, during the Nigerian Council of Registered Insurance Brokers Members’ Evening in Lagos… recently

Ondo State University of Medical Sciences Set for New Faculty of Pharmacy The Governor of Ondo State, Oluwarotimi Akeredolu, SAN, has flagged off the construction of the Olu Akinkugbe Faculty of Pharmacy (OAFoP), which will be housed within the Ondo State University of Medical Sciences, which was established in 2014 as the first university dedicated to the study and advancement of medicine in Nigeria. The commissioning and foundation-laying ceremony also had in attendance key stakeholders and distinguished personalities like the Osemawe of Ondo Kingdom, Oba (Dr.) Victor Adesimbo Kiladejo CFR, Jilo III; Former Governor of Ondo

state, H.E. Dr. Olusegun Mimiko, and members of the Olu Akinkugbe Pharmacy Education Trust (OAPET), including Chairman of Nigeria’s first indigenous company listed on the stock exchange, Juli Pharmacy, Prince Adewale Adelusi-Adeluyi, OFR, MNI, FNAPharm; Chairman of Access Bank Plc and former Chief Executive of National Primary Healthcare Development Agency (Federal Ministry of Health), Dr. (Mrs) Ajoritsedere Awosika, MFR, mni, FNAPharm; MD/CEO SecureID Nigeria, Mrs. Kofoworola Akinkugbe; Co-founder, and Chairman, Aluko & Oyebode (Barristers & Solicitors) and Chairman of Teach for Nigeria,

Mr. Gbenga Oyebode, MFR, Knight of the Order of Leopold (Belgium); Retired Professor of Pharmacy, former Dean of the Faculty of Pharmacy, University of Lagos, Rev. (Professor) ‘Fola Tayo, MFR, FNAPharm, FAcadeMeds; Vice Chancellor, University of Medical Sciences, Ondo, Professor Adesegun Fatusi; Registrar, University of Medical Sciences, Ondo; Dr. Woleola Ekundayo; and Professor and Director of Research, Innovation and Development, University of Medical Sciences, Ondo, Professor Olumide Ogundahunsi. The occasion marked the commemoration of Chief Olu Akinkugbe’s 93rd birthday.

The Faculty of Pharmacy will be part-funded by Chief Akinkugbe as an investment in his commitment to delivering on his vision for a stronger Nigeria and a consolidation of the enduring legacy and vestiges of the elder statesman, industrialist and pharmacist extraordinaire. When completed, the Oludolapo Akinkugbe Faculty of Pharmacy (OAFoP) will be an innovation-led centre of excellence in learning, which overhauls the current educational system in Nigeria, driving a new generation of medical development, growth, and sustainability grounded in its commitment to community.

T H I S D AY ˾ THURSDAY, DECEMBER 9, 2021

BUSINESSWORLD

DEVELOPMENT

Lekki-Epe Coastal Road Encroachment and LASG Inability to Tackle Challenge Sunday Ehigiator in this report writes on the continuous encroachment of the Lekki-Epe coastal road and surrounding areas around the Okunde Bluewater Hospitality and Tourism Scheme by ‘Area boys’ and the seemingly inability of the Lagos State Government to tackle this menace, despite issuing three-day quit notice in July 2021

Lekki-Epe coastal road and surrounding areas around the Okunde Bluewater Hospitality and Tourism Scheme, still full of shanties occupied by ‘Area boys’

oncerns have continued to grow among Nigerians over the continuous encroachment and habitation of the Lekki-Epe coastal road by ‘Area boys’ despite the three-day ultimatum issued by the Lagos State Government (LASG) for them to leave the area. It would be recalled that the Lagos State Environmental and Special Offences Enforcement Unit (Task Force) issued a three-day removal notice to all owners of makeshift structures, shanties, kiosks and vehicles at Maroko and on Lekki-Epe Coastal Road, Lekki in July 2021. Justifiably so, the rising concerns are not only fueled by the increased crime rate within the vicinity and threat to properties, personal life and safety, but likewise the visible failure of the Lagos state government to take necessary actions in securing the coastal road after the expiration of the quit notice. The encroachment of the coastal road seems to be a menace that the Sanwo-Olu government seems unable to tackle. Despite repeated threats by Lagos State officials to evict the squatters who have turned the area into a den for drug traffic, prostitution and other vices, they seems to be blossoming beyond belief. With the laudable efforts of the President Mohammadu Buhari led administration in making Nigeria a drug free society, having such compartment synonymous among those very familiar with the area as a ‘Drug Cartel’, existing in a highly populated city like Lagos state, only makes mockery of the laudable government efforts towards eradicating drugs and substance abuse among Nigerian youth. Prior to the July 2021 notice, the Taskforce Chairman, CSP Shola Jejeloye, who led his team to issue the removal notices, said the order became necessary for the construction of the Lekki Coastal Road, which serves as an alternative route to the Lekki-Epe Expressway. The spokesman for the Taskforce, Mr. Femi Moliki, has said in a widely reported statement that the road, which leads to Lekki Free Zone, “was dotted by illegal structures, shanties, abandoned vehicles, containers and trading activities, and that all illegal structures would be demolished within three days.” The order, according to CSP Jejeloye was for all the mechanics, block makers, bamboo and wood sellers, shanties and other illegal occupiers, to move or be removed within a few days. This followed an earlier instruction by Governor Jide Sanwo-Olu in 2020 that the setbacks would be cleared and maintained, pending when the state government would be able to commence work on the Coastal Highway. The Coastal Highway is a vital artery that was designed to provide relief to the over-used

Lekki-Epe coastal road and surrounding areas around the Okunde Bluewater Hospitality and Tourism Scheme, still full of shanties occupied by ‘Area boys’ Lekki-Epe Expressway. It is pertinent to note also that successive government since the days of Colonel Raji Rasaki have promised and likewise failed to kick off construction of this vital road. In August 2021, the government demolished shanties and illegal structures on Lekki coastal road. In a statement issued by Moliki, he said the task force was prepared to monitor and prevent future encroachments and illegal occupation of any part of Lekki coastal road. “We have enlightened the occupants on the strategic nature of the road where they had built their shanties. Immediately it was cleared in 2019, they mobilised themselves and extended their occupation of the road. “They have turned it into hideouts for criminals. They sell drugs, some of which were seized during our assessment of the area, while traffic robbers and other dangerous criminals also dwell here. “These cannot be allowed to thrive in Lekki. The essence of the demolition is to monitor the place and safeguard it so that criminals don’t return there again,” he said. However, the illegal occupants remained unmovable while the government had continued to turn a blind eye towards the direction. Upon a visit to the area, there was a visible upsurge of ‘area boys’ besieging visitors to the private beaches at Landmark and Lekki Leisure Centre. This has not only discouraged

tourism patronage among some Lagosians, but sends a signal of fear to visitors who dare to still patronise the beaches. An operator of one of the many entertainment centres in the Hospitality and Tourist Zone declined to comment on record, for fear of reprisals from area boys. He, however, lamented the losses faced by his business as a result of these unwholesome activities. The operator, among several others alike, had invested millions of dollars in the hospitality and tourism space, with the hope that the area would turn into the entertainment Mecca that Lagos State officials had promised them. However, they have been made to tarry longer than necessary. Residents of Bluewater Apartments, an upmarket 18-storey apartment block built by El Alan Construction, a leading construction company, were said to be equally afraid of the area boys who had invaded the neighbourhood. This unwelcome development seems reflective of the inability of governments across the country to secure the lives and property of citizens. Lagos State government in particular, seem powerless to take decisive action against these illegal squatters despite repeated threats to evict them, amid rumours that some of the squatters have tight political connections with powers that be. Speaking on the deelopment, spokesperson to

the Lagos State Environmental and Special Offences Enforcement Unit (Task Force), Mr. Gbadeyanka Raheem, said they have sent the miscreants on the Lekki-Epe axis packing several times, but kept returning. Raheem said, “We have dislodged the illegal occupants around that place but the truth of the matter is that they kept coming back. It is a known fact that Nigeria’s meat is hard to chew and that is the challenge we are facing in that area. When you chase them away from that place today, in the next one-week, you will discover that they are back there and you know that those shanties are easy to erect. “Our agency is trying to ensure that the state is free from all the activities of miscreants and that is why we have been working tirelessly to achieve this. “You can see the way we have been working to stop the influx of Okada on the Prohibited roads yet they keep coming back and yet citizens are still the ones complaining that we are being tough on them,” he said. He added that no politician will want to identify with miscreants, so the rumour about their having political backing is not true. “No responsible politician will support hoodlums,” he added. He, however, urged members of the community to try as much as possible to support the agency in their efforts to rid the society of crime by always reporting the activities of the miscreants and hoodlums whenever they return after dislodgment.

THURSDAY DECEMBER 9, 2021 • T H I S D AY

THURSDAY DECEMBER 9, 2021 •T H I S D AY

THURSDAY DECEMBER 9, 2021 • T H I S D AY

THURSDAY DECEMBER 9, 2021 •T H I S D AY

THURSDAY DECEMBER 9, 2021 • T H I S D AY

THURSDAY DECEMBER 9, 2021 •T H I S D AY

THURSDAY DECEMBER 9, 2021 • T H I S D AY

THURSDAY DECEMBER 9, 2021 •T H I S D AY

THURSDAY DECEMBER 9, 2021 • T H I S D AY

T H I S D AY ˾ , DECEMBER 9, 2021

HEALTH & LIFESTYLE

ÜÙßÚ ÏËÞßÜÏÝ ÎÓÞÙÜ˝ Chiemelie Ezeobi ×ËÓÖ chiemelie.ezeobi@thisdaylive.com, Tel: 07010510430

Resolve to End Inequality, AIDS through Sustainable HIV Financing Since 1988, the World AIDS Day has been globally celebrated annually on December 1. Each year, the occasion brings together key stakeholders in the health sector and all those involved in the fight against HIV/AIDS. Aimed at creating awareness of HIV/AIDS and issues around its treatment and prevention and to remember those who have died from AIDS related illnesses, this year, priority was placed on the attachment of the target of addressing inequalities as a means to end AIDS through sustainable HIV financing. Onyebuchi Ezigbo reports on some of the new strategies to overcome barriers that prevent access to services by People Living With HIV

The Director General of NACA, Dr. Gambo Aliyu presenting 2021 situation report ﬂanked by stakeholders in the ﬁght against HIV including; representatives of the WHO, UNICEF and UNAIDS

lobally, approximately 38 million people are currently living with HIV, and tens of millions of people have died of AIDS-related causes since the beginning of the epidemic. However, many people living with HIV or at risk for HIV infection do not have access to prevention, treatment, and care, and there is still no cure. In Nigeria, commemorating World AIDS Day (WAD) remains a very crucial element of intervention effort to end the spread of the virus. It serves to call everyone’s attention to the fact that the fight against HIV is yet to be won and that there is still a critical need to raise money, increase awareness, improve education and fight stigma and discrimination, amongst other competing issues. Commemorating World AIDS DAY Every year, the WAD campaign comes with a specific universal theme, proclaimed by the United Nations Action Against AIDS UNAIDS. This year‘s theme is: ‘End Inequalities, End AIDS, End Pandemics’. However, the agreed national theme for Nigeria is: “End Inequalities, End AIDS through Sustainable HIV Financing in Nigeria”. In a message to mark this year’s World AIDS Day, WHO Regional Director for Africa, Dr. Matshidiso Moeti said the world cannot afford to lose focus on the urgent need to end the inequalities that drive AIDS and other epidemics. Matshidiso who noted that it has been 40 years since the first HIV cases were reported, expressed regret that in Africa and globally, AIDS remained a major public health concern. “Last year, two out of every three new HIV infections occurred in the African Region, corresponding to almost 2, 500 new HIV infections every day. Sadly, AIDS claimed the lives of 460, 000 people, or a shocking 1,300 every day, in spite of free access to effective treatment. “The challenges notwithstanding, Africa has made significant progress against HIV in the past decade, reducing new infections by 43 per cent and nearly halving AIDS-related deaths.” Push for Sustainability of Campaign in Nigeria For the leadership of NACA, the Nigeria National response is in the last mile of its epidemic control, therefore the push for sustainability of the campaign. Director General of NACA, Dr. Gambo Aliyu, said the agency believed that in this last mile of the National HIV response, the public and private sectors, communities, and all stakeholders in the national response have roles to play to ensure epidemic control and sustainability. He said this means ensuring that states ownership and AIDS remained on the political

agenda; overcome barriers that prevent access to services, create an enabling environment that promotes equal access; safeguard the rights of PLHIV and hold decision makers and implementers accountable. Identifying Source and Distribution of New Infections According to NACA, the recently conducted mode of transmission studies, which was aimed at identifying the source and distribution of new infections and the populations at greatest risk of infection through incidence modeling, found that never married individuals, all typology of the key populations and new infections from mother to child transmission are the drivers of the epidemic. “So, interventions must be targeted at these population groups during the commemoration of the 2021 WAD celebration, and conscious efforts made going forward to address these emerging dynamics if we are to achieve epidemic control and sustain it”. Outreach Therefore, NACA and its partners decided to use this year’s WAD as a platform to reach youths, pregnant women, members of the key population communities and other affected populations with HIV testing services and other interventions will provide medical outreaches to other vulnerable groups working with the network of people living with HIV and other key affected population with limited access to health services. The outreach programme provided an opportunity to make HIV services accessible to those with limited access and to further create

awareness with emphasis on the changing dynamics of HIV. Several activities including; youth programs, engagement and signing of memorandum of understanding with stakeholders for the purpose of ownership and sustainability were also carried out. Urgent and Transformative Action On its part, UNAIDS cautioned against repeating many of the mistakes that have prevented us from ending AIDS. At the same time, it said the world can leverage the 40 years of the AIDS response to help end new pandemics. According to UNAIDS, tackling inequalities is a long-standing global promise which needs urgent action now. “As well as being central to ending AIDS, tackling inequalities will advance the human rights of key populations and people who are living with HIV, make societies better prepared to beat COVID-19 and other pandemics and support economic recovery and stability. Fulfilling the promise to tackle inequalities will save millions of lives and will benefit society”. In the same vein, UNAIDS said that global AIDS strategy 2021-2026 and the 2021 political declaration on AIDS have revealed the reasons why the world missed the 90 90 90 targets and why there is need to for urgent and transformative action to end social, economic, racial and gender inequalities, restrictive and discriminatory laws, policies and practices, stigma, and multiple and intersecting forms of discrimination that perpetuate the global AIDS epidemic. The UN agency used the opportunity

Globally, approximately 38 million people are currently living with HIV, and tens of millions of people have died of AIDS-related causes since the beginning of the epidemic... the ﬁght against HIV is yet to be won and there is still a critical need to raise money, increase awareness, improve education and ﬁght stigma and discrimination, amongst other competing issues

to commend Nigeria for joining other nations to make a pledge at the June 2021 UN General Assembly High-Level meeting in New York, where the political declaration was endorsed and where President Buhari committed to quickly adopt the commitments and put them into action at the country level. It said: “Nigeria has put a befitting spin to the global theme: “End Inequality End AIDS through sustainable Financing”. The country is on the right path to achieving this milestone, kicking off a country dialogue on Sustainable Financing Planning for HIV, Tuberculosis and Malaria.” It added that the resolve to end inequalities must be reflected in the national frameworks and state plans so that all partners and implementers can coalesce around this shared mandate. Sustainable Funding UNAIDS was of the view that with the right policy environment, the correct strategic framework, and the right systems including health, community, and other supporting systems, Nigeria can get it right. The agency canvassed support for sustainable funding of HIV intervention measures. It urged stakeholders to support the HIV Trust Fund and a strong country ownership aimed at stamping out inequalities while putting communities at the center. It acknowledged the progress being made by the federal government which has approved payment for the treatment of Nigerians living with HIV using domestic resources, at the ratio of 17 percent to 83 percent HIV program resource contribution between the government and donors respectively. UNAIDS however noted that there were still some funding gaps that the country needed to address as we move towards epidemic control. Again, UNAIDS said that there was an urgent need for states to redeem their commitments to release 0.5 percent to 1.0 percent of their Federal Monthly Allocations to support the HIV response in their States. For example, it suggested that states should invest more in the procurement of HIV test kits as part of their counterpart contribution. “This will go a long way towards halting the decline of HIV positive pregnant women accessing PMTCT services. Nigerian government needs to stop viewing healthcare as a consumption good. Health is a sensible investment, a nation’s source of wealth. “We need to commend all the partners -PEPFAR, Global Fund, UN sister agencies that have consistently supported the country in the HIV response. We want the country to build on the momentum and ensure sustainable financing of HIV through the initiatives that are currently in place inclusive of HIV Trust Fund”.

T H I S D AY ˾ , DECEMBER 9, 2021

NEWS

Toyin Oni Foundation Marks 10th Anniversary, Creates Awareness on Breast Cancer

FERTILITY

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

CHLAMYDIA AND INFERTILITY (Part 2)

L-R: Ms. OreOluwa Oni, Mrs Bisi Adebayo, Mr. Damilola Oni, Ms. Helen Obuninta, secretary TOF; Mr. Akintola Oni, founder; Mrs. Bukola Smith, chairman; Mrs. Titilola Igri-Oﬀor, Mrs Olufunke Isichei and Mr. Obafemi Obadina Rebecca Ejifoma Following the demise of Mrs. Toyin Oni of breast cancer 10 years ago, the Toyin Oni Foundation (TOF) was established in her honour to keep what she stood for alive in entrepreneurship, health, and sports. Through her foundation, a handful of women have been empowered with skills to improve UIF RVBMJUZ PG UIFJS MJWFT QSPNPUF sporting activities especially tennis among elementary students, and educate the girl child and women especially on breast cancer. While marking its 10th anniversary recently, the Chairperson of the Foundation, Mrs. Bukola Smith, described the late Oni as a motivation and mentor to many women. “We are carrying on with her

legacy to ensure we support women and young girls who might not know about breast cancer,” she explained. According to statistics by the International Agency for Research on Cancer (IARC) issued last December, breast cancer has overtaken lung cancer as the world’s most commonlydiagnosed cancer. Owing to this fact, the foundation is not only creating awareness on breast cancer, it is also exposing women and girls to breast examination to reduce the number of women, especially, living with this disease. For the founder of the TOF, Mr. Akintola Oni, the foundation has continued to harp on the importance of early detection for breast cancer. “TOF has been at the forefront

in the fight against breast cancer over the years. It has continued to educate people on why early detection and how it can save lives. It has also made impacts in the lives of many.” Meanwhile, the TOF held the 10th Edition of the annual Table Tennis championship in conjunction with the Lagos State Table Tennis Association for secondary school students in the state. Held at Teslim Balogun Stadium, over 14 secondary students, including females, displayed their skills for cash prizes among other items. Aside the charity ball, other activities included annual medical outreach for women and the girl child as part of preventive measures against breast cancer.

CACOVID Encourages Nigerians to Get Vaccinated, Stop Spread of COVID-19 Mary Nnah Private Sector Coalition Against COVID-19, (CACOVID), has urged Nigerians to get vaccinated in order to stem the spread of the coronavirus and minimise the impact of its most recent deadly variant, Omicron. The Nigerian Centre for Disease Control (NCDC) reported 920 new confirmed COVID cases between November 6 and December 1, whilst confirming three cases of the Omicron variant of COVID-19 in Nigeria last week Wednesday. Spokesperson of CACOVID and the Managing Director, Aliko Dangote Foundation, Zouera Youssoufou, urged Nigerians to mask up, get vaccinated and take necessary precautions. “Since the COVID curve has been flattened significantly in Nigeria, many of us have relaxed with the prescribed precautionary

measures. It is not uncommon to see many going around without face masks and forgetting to maintain social distancing. “According to reports from the NCDC, this has led to a steady increase in infection and death rates. We need to take the prescribed precautionary measures seriously- wash your hands and sanitise them regularly, maintain social distance, wear a face mask whenever you are in public, whenever you need to cough/ sneeze, do so into your elbows, get vaccinated. “ In addition to all of these, visit the hospital immediately if you notice any symptoms. We need to flatten the curve and the only way we can do this effectively is if we all play our parts.” The COVID-19 Coordinator, West Africa Health Organisation (WAHO), Joshua Obasanya, said that “one of the

biggest challenges in the region is getting people to comply with safety regulations and tackling rumours and misinformation.” He emphasised that people should follow safety guidelines, get vaccinated to help eradicate the disease. “None of the COVID-19 vaccines contain the live virus that causes COVID-19, so contrary to erroneous information being circulated; a COVID-19 vaccine cannot make you sick with COVID-19. “Also important to note is that people who have a condition or are taking medications that weaken their immune system may not be protected even if they are fully vaccinated. “They should continue to take all precautions recommended for unvaccinated people, including wearing a well-fitted mask, until advised otherwise by their healthcare provider”, he noted.

Mega Lifesciences Recommends 10,000 Steps Daily against Diabetes, Hypertension Rebecca Ejifoma A leading pharmaceutical company, Mega Lifesciences, has recommended that Nigerians make about 10,000 steps daily as a practical solution against diabetes, hypertension and cancer. These were the words of experts at a media conference in line with this year’s World Diabetes Day on the theme, “Access to Diabetes Care; If Not Now, When?” Professor of Endocrinology

at the College of Medicine, University of Lagos, Prof Olufemi Fasanmade, harped on being more active, remaining slim and fit. He said: “The first thing to do is to move; it’s very cheap,” adding that sedentary activity is as deadly as smoking or drinking because it’s a deadly habit. “You sit for six, eight hours. emphasising that everyday must have a lot of movement”. While noting that most phones have a step counter which measures the number of steps you

take, Fasanmade implored, we should have about 10,000 steps per day to keep hypertension, diabetes and cancer away. So you can do three in one; physical activity”. The endocrinologist, however, cautioned that only a small portion of people who are diabetic have symptoms. Some of the symptoms he listed are: passing “plenty” of urine, poor vision, poor erection, poor stamina, poor obstetric history including miscarriages and stillbirth, and itching on the skin.

ast week, we started a topic on Chlamydia and its effect on fertility. We discussed the risks, signs, symptoms and complications of chlamydia. This week, we will conclude with its effects, diagnosis, prevention and treatment. EFFECT OF CHLAMYDIA IN FERTILITY Chlamydia is a disease that often does not show any symptoms and therefore can go undetected for a long period of time, causing serious harm to the reproductive system in both men and women. Chlamydia infection is very common in young women as there is still very little education about sexually transmitted diseases for teenagers. This lack of education leads to young women getting tested very late, most times after damage to the fallopian tubes. Majority of these women may progress to become infected with what is known as pelvic inflammatory diseases (PID). Some symptoms of PID include: r :FMMPX PS HSFFO WBHJOBM EJTDIBSHF r /BVTFB GFWFS BOE WPNJUJOH r 1BJO BOE UFOEFSOFTT JO UIF MPXFS BCEPNJOBM region r 1BJOGVM PS GSFRVFOU VSJOBUJPO These symptoms are not mutually exclusive and they will often occur in conjunction with one another. However, of even greater concern is that up to 70% of all women are asymptomatic (no sign), which causes the fallopian tubes to become infected and blocked at the very end - this is known as hydrosalpinx. Some women may also develop scar tissues around the fallopian tubes making it difficult for the tubes to pick up the egg at the time of ovulation. This result in severe difficulty in becoming pregnant, complete infertility and also increases the risk of ectopic (tubal) pregnancy. In men, chlamydia manifest itself as a urethral infection that may sometimes spread to the testicles, leading to a condition known as epididymitis and if it is not treated promptly, infertility may occur. Chlamydia can also be problematic in men as studies suggest that men diagnosed with chlamydia may have sperm with DNA damage. DIAGNOSIS OF CHLAMYDIA The most common test to detect chlamydia infection in women involves taking a swab from the cervix during a speculum examination. The swab of discharge from the cervix (the lower narrow end of the womb) is tested for chlamydia DNA. This test does not indicate how long the infection has been present, how severe the infection is and whether the woman with the infection has sustained tubal damage. The swab test can also miss an infection that has moved up into the uterus or tubes if tested late. For men, the doctor or physician inserts a slim swab into the end of the penis to get a sample

from the urethra. In some cases, the physician will swab the anus. Also, a sample of urine may be collected to be analyzed in the laboratory for the presence of this infection. PREVENTION OF CHLAMYDIA r 5IF CFTU XBZ UP QSFWFOU DIMBNZEJB infection is to abstain from sexual activities, and if you must have sex make sure to use a female polyurethane condom or a male latex condom during sexual contact. If condoms are used properly during every sexual encounter, it may reduce infection but cannot eliminate the risk of infection. r 3FEVDF PS MJNJU UIF OVNCFST PG TFY partners because having multiple sex partners puts you at a high risk of contracting these and other sexually transmitted infections. r *G ZPV BSF TFYVBMMZ BDUJWF XJUI NVMUJQMF sex partners, you should try to get regular screening for chlamydia and other sexually transmitted diseases. r "WPJE XBTIJOH PS DMFBOJOH PVU UIF JOTJEF of the vagina with soap or other mixtures of fluid because it reduces the numbers of good bacteria present in the vagina thereby leading to a risk of chlamydia and other infections. TREATMENTS OF CHLAMYDIA Chlamydia infection can be easily cured and treated with antibiotics. Partners should ensure they get tested. Couples with chlamydia should abstain from sexual activities until completion of a 7-day course of antibiotics to prevent reinfection and further spread of infection to partners as having multiple infections increases a woman’s risk of serious reproductive health complications such as pelvic inflammatory disease, ectopic pregnancy and infertility. It is important to take all the medication prescribed to cure this infection. Medication for chlamydia should not be shared with anyone. It should be known that chlamydia medication can cure infection but will not repair any permanent damage done by the disease. Although, treatment of fallopian tube blockage may be done in two ways – Either the physician may perform a procedure that is minimally invasive to treat the blockage of the fallopian tube or couple may take the option of In-Vitro Fertilization (IVF) treatment when trying to conceive. CONCLUSION Chlamydia is a common sexually transmitted bacterial infection. It often produces no symptoms, but screening can show if a person needs treatment. For this reason, treatment and screening are essential for those who may be at risk as highlighted above. If symptoms persist days after receiving treatment, it is advisable to see your clinician /fertility specialist to be reevaluated.

T H I S D AY ˾ , DECEMBER 9, 2021

NEWS

Ogun Leaders Commend Czech Republic, Otunba Adewunmi for ICU Donation Rebecca Ejifoma The Governor of Ogun State, Prince Dapo Abiodun, led a coterie of indigenes in commending the Czech Republic and Otunba Femi Adewunmi, the Atunluse of Owu-Ijebu for donating a fully-equipped intensive care unit (ICU) to the state. The commendation came during the activities marking the official handover and commissioning of the 122-bed health facility valued at over N200 million held on December 2 this year. Abiodun, represented by the Deputy Governor of the state, Mrs. Nimot Salako-Oyedele, said the donation of the facil-

ity is a testimony to the state’s developmental drive. “I am particularly excited about this donation of a 122-bed Intensive Care Unit and neo-natal incubators within the premises of the General Hospital, Ijebu-Ife. “This new development is, for me, a celebration and acknowledgement of the continued development of Ogun State through a robust Public-Private-Partnership.” He also thanked the donors, adding that the facility would greatly expand the capacity of the hospital, make advanced healthcare available locally to their people and save more lives. He continued that this gesture has also demonstrably shown

how the influence of an individual’s social connection can facilitate development to their community. Other leaders who took turns to eulogise the donors included Ogun State Commissioner for Health, Dr (Mrs) Tomi Coker; the Olowu of Owu-Ijebu,Oba Michael Adesina; and Oba Adefesan Oguntayo, the Ajalorun of Ijebu-Ife, among others. Zdenek Krejci, the Czech Republic Ambassador to Nigeria, said the donation is part of his country’s desire to assist Nigeria as it aspires to make quality healthcare easily accessible to Nigerians.

“This special event of donating the ICU equipment is, not only to help the Nigerian government in the fight against the COVID-19 pandemic, but also to assist in the treatment of other health issues. “The project is a result of discussions between the Czech Republic and Nigeria – what Nigeria needs the most, what is not here, and what the Czech Republic can provide.” The ambassador informed that the Czech Republic has made similar donations to two other states in the country at a cost of €1.2m. In his remarks, Adewunmi, represented at the event by his

sister, Mrs Temitope Jemerigbe, said the decision to collaborate with Czech Republic was borne out of the desire to deliver healthcare to the rural communities. “Most of the healthcare facilities in the rural areas of the state lack specialist equipment to treat patients who require intensive care attention. “ Such patients would be required to make the tortuous journey to the urban communities or the state capital to get the adequate attention that they need,” he noted. In some cases, he emphasised, we lose such patients even

before they get to these ICU facilities. With this facility situated right here in Ijebu-Ife, such patients from this and neighbouring communities could easily access it and get the specialist attention they need. He, therefore, enjoined the people of the area to make adequate use of the facility. The ICU facility has, among other units, neo-natal incubators for children born before their fullterm, emergency and surgical theatre, isolation centre for adults and children, monitoring unit, decontamination room, maternity ward, paediatric and emergency.

LG Electronics Drives Healthy Living with Free Wash Centre in Oyo Kemi Olaitan ÓØ ÌËÎËØ LG Electronics has stated its commitment to drive a healthy living through nationwide Corporate Social Responsibility (CSR) initiatives and extension of its ‘Life’s Good with LG Wash’ Intervention to Ibadan, the Oyo State capital. The General Manager, Home Appliances Division, LG Electronics West Africa, Mr. Brian Kang, while speaking at the commissioning of the new Free Wash Centre situated at the LG Showroom on Iwo road, said the aim was to support communities lacking adequate water to efficiently carry out laundry activities as well as encourage a proper hygienic living. He disclosed that the company has commissioned four free wash centres across the country in Port Harcourt, Lagos, Benin and Kano with that of Ibadan as the fifth, stating that the company is committed to driving sustainability through inclusive growth. “For us, we believe that ‘Life’s Good’ when shared with others. We have remained competitive while improving sustainability; we have enabled investment and innovation required to deploy new technologies and to safely and responsibly develop progressive products. LG Electronics will continue to support communities even in the future”, he said. The Head of Corporate Marketing Division, LG Electronics West Africa, Mr. Hari Elluru, in his remarks, said the free wash

center is designed to operate on a daily basis in order to improve the living conditions as well as support the daily washing needs of people in the area. According to him, “LG Electronics has over the years continued to receive commendation from Nigerian consumers for having their interest at heart in the development of cutting-edge technological products. In almost four years of operating, all the free wash centers have served over 50,000 people and washed more than 500,000 set of clothes. “The laundry cabin is equipped with state-of-the-art facilities to effectively take care of laundry needs of the people for free. The facility with several LG Washing machines, Dryers, Air Conditioning units, uninterrupted power supply, constant supply of water among others is to ensure that the facility operates seamlessly. “The free wash centers initiative will continue for a while tending to the immediate need of the people within the community where they are installed. The aim is not to serve only customers that mostly patronize LG Electronics but to serve all and sundry within the community. “LG Electronics has over the years been at the forefront of giving back to the society – engaging in different activities from different sectors including education, health and youth empowerment, among many others.”

Lions Club Gives Free Medical Services to Community Funmi Ogundare Members of Ikeja Metro Lions Club, recently provided free medical facilities on diabetes and blood pressure to residents of Ipodo community in Ikeja Local Government, as part of effort aimed at improving the health conditions of Nigerians. The President of the club, Mustapha Olajide said it was providing free medical care in the areas of diabetes and blood pressure. He told THISDAY that this is how those that have diabetes can control it and how others can avoid being victims of the sickness.

He noted that the programme is in the line with the vision of Lions Club, adding that it has five core areas which they work on including; diabetes, vision, childhood cancer, hunger and environment. Olajide said the club intended to conduct free tests for 250 people. “After the tests, the b eneficiarieswould be given the results and there are medical practitioners that would advise them on the next steps to take,” he said. A medical practitioner, Dr. Blessing Agbochini said diabetes is on the increase in Nigeria and it doesn’t have respect for age.

Mrs Nimot Salako-Oyedele, Ogun State deputy governor (2nd Left), Tomi Coker, Ogun State Commissioner for Health (left); Zdenek Krejci, the Czech Republic Ambassador to Nigeria (2nd right), and a representative of Otunba Femi Adewunmi, Temitope Jemerigbe (Right) at the commissioning of the 122-bed Intensive Care Unit donated by the Czech Republic, in collaboration with Otunba Femi Adewunmi

Dr. Ijeoma Idaresit Scholarship to Fund Nigerian Public Health Students in London The Dr. Ijeoma Idaresit Scholarship Fund is out to support Nigerians studying Public Health in London School of Hygiene and Tropical Medicine (LSHTM). The scholarship was established to honour the memory of Dr. Ijeoma Idaresit, who is an alumnus, and Nigerian students studying for a Master’s Degree in Public Health at the LSHTM will receive financial support. Available to both distance learning and intensive learning courses, this grant is in the tune of 500 pounds and will be awarded to successful beneficiaries to invest in their studies, either to undertake research or travel in aid of completing their final research projects. The scholarship scheme is designed to uphold Dr. Ijeoma’s Idaresit legacy, her dedication to learning for continuous improvement, and her passion for improving maternal health in partnership with a globally respected institution that is a leading center for health research. Successful scholars from Nigeria will have an opportunity to go further in their academic pursuits and become better equipped to provide solutions

Dr-Ijeoma in the healthcare space. Through this, the impact of Dr. Ijeoma’s Idaresit work will be amplified in the various projects carried out by the recipients, with the potential of meeting health needs in Nigeria. The scholarship is for Nigerian students who have secured admission and enrolled in the Master of Public Health program of the London School of Hygiene

and Tropical Medicine. Preference will be given to students from Nigeria, and those who have an interest in maternal health and/or mental health and eligible students will be able to apply through the school’s website her. According to the London School of Hygiene and Tropical Medicine, “Dr. Ijeoma Idaresit was an inspirational leader

who resolved to be a part of the solution to the challenges with healthcare delivery and outcomes in Nigeria. After receiving her Master’s degree in Public Health, she went on to create the Edie and Amy Company, a maternal focused online media and product organisation, which currently reaches over 10,000 mothers monthly through a website and other social media platforms, helping them through hurdles in breastfeeding and postpartum care.” The school continued that, “she’s also concerned about the dearth of maternal mental health support systems in Nigeria, she worked as the Conference Director of the Postpartum Support Network (PSN) Africa, an organisation which has educated up to 16,000 people, screened about 8,000 mothers, and provided free treatment for over 500 women suffering from postpartum depression and other mood disorders. At the start of the pandemic in 2020, she coordinated the team’s response, personally providing support for at least 46 women in six different online groups called the Warrior Mom Villages.”

T H I S D AY ˾ , DECEMBER 9, 2021

FEATURES

Championing Meaningful CSR Projects for LUTH Chiemelie Ezeobi reports that to deepen access to quality and affordable healthcare in Nigeria, Airtel Nigeria recently renovated and remodelled the entire 111-bed capacity Ward A of the Medical Wing of Lagos University Teaching Hospital

etting quality care at hospitals often goes beyond treatment. Most times, the ambience and adequate facilities help speed the healing process. Having fully grasped the psychology behind this, Airtel Nigeria Ltd. recently inaugurated Block A Medical Ward, which they had renovated and remodelled for the Lagos University Teaching Hospital (LUTH), Idi-Araba, Lagos. Valued at over N200million, stakeholders at the inauguration commended the telecommunications services provider for its consistent investment in the health sector, but particularly for transforming and modernising the building into a state-of-the art medical facility and equipping the ward with cutting-edge connectivity technologies. At the inauguration were Minister of Health, Dr. Osagie Ehanire; LUTH Chief Medical Director, Prof Chris Bode; Chairman, LUTH Management Board, Alhaji Isa Bello Sali; MD/CEO Airtel, Chemmenkotil Surendran; Director i/c Teaching Hospitals FMOH, Dr. Andrew Noah; LUTH Director of Administration, Dr. Babajide Grillo, MDS of other Federal Tertiary Institutions, directors, CMAC, DCMACS, HODS, union leaders, and other stakeholders. Boost for LUTH In his address, the Minister of Health, Dr. Osagie Ehanire said the addition was a boost to the hospital that was established in the 60’s, adding that the hospital has been enjoying steady development since then, driven in recent times by the initiative of the CMD. He said: “It is my pleasure to address this gathering on the occasion of the commissioning of block A, renovated and remodelled by Airtel Nigeria Ltd. I congratulate the management and staff of Lagos University Teaching Hospital on the addition of yet another edifice to the assets of this hospital, an early generation hospital established in 1962. “The project tallies with President Buhari’s Next Level modernisation agenda for teaching hospitals to improve quality of care for Nigerians. Since beginning of this administration, much investment has gone into our tertiary level centers, including LUTH, directly or in partnership. “But I shall, at this point, extend the appreciation of government to Airtel Nigeria for this excellent project, which, I am sure further increases the capacity of LUTH to deliver on its performance objectives. “ I am happy to note that Airtel Nigeria walked each step of the COVID-19 journey partnering LUTH: a partnership which also saw the company donate 81 telephone lines to the hospital’s Psychosocial and Emotional Support Group, which reached out to provide psychosocial support to patients and their families following COVID-19 diagnosis, and reached over 20,000 patients in the Lagos metropolis, with Airtime provided for three months in each phone line. “In no country can government alone fund healthcare and it is in that regard that we must urge more private sector investment in the Nigerian healthcare sector. With such investment and the skilled and dedicated manpower, the sky is the limit on our quest to improve the quality of care in Nigeria. “As endowed as LUTH presently seems, there is room for value addition as Corporate Social Responsibility or investments that upgrade existing facilities, bridge infrastructure gaps and introduce cutting-edge equipment and technology. I invite national and multinationals investirs to examine the opportunities in Nigerian healthcare to find areas that promise handsome returns. “I call on the management and staff of the hospital to put this ward to good use and keep it well maintained to justify the generosity of Airtel to LUTH and once again thank the donor for this laudable project. It is my honour and privilege to commission this new medical ward, on behalf of the President of the Republic to the service of Nigerians and glory of God.” Message of Gratitude For LUTH Chief Medical Director, Prof Chris Bode, the occasion afforded him the opportunity to express gratitude mixed with hope. He said: “ My message today is that of gratitude, riding on the wings of hope. Gratitude for everyone who made this possible, hope that this will not be a one-off event, but rather a harbinger of good things to come in the country’s healthcare space. “Since the bronze plaque was unveiled 59 years ago at the inception of this institution, our facilities have been in use every day without respite. In recent years, all our wards became run down and we had barely rehabilitated Block B two years ago when we had to surrender it for use as COVID Isolation Centre 18 months ago.

L-R: LUTH Chief Medical Director, Prof Chris Bode; Chairman, LUTH Management Board, Alhaji Isa Bello Sali; Minister of Health, Osagie Ehanire; MD/CEO Airtel, Chemmenkotil Surendran; and Emeka Opara at the inauguration of the renovated and remodelled 111-bed capacity Ward A of the Medical Wing

Unveiling the plaque at the hospital In fact, LUTH admitted and treated over 1000 COVID patients, many with several life-threatening co-morbidities.” Commending Airtel Nigeria for walking every step of the COVID-19 journey in partnership with LUTH, he said the company gave 81 telephone lines to LUTH’s Psychosocial and Emotional Support Group which reached out to patients and their families following diagnosis and in the course treating over 20,000 patients in Lagos, adding that they also provided airtime for three months on each of those phone lines. He said: “At the height of the first wave of the pandemic outbreak in Lagos about May-June 2020, the fear of a possible upsurge requiring more bed-space for admissions was real. Messrs Airtel Nigeria rose to the occasion, offering to help LUTH rehabilitate Block A to operationalise another 111-bed capacity at a cost of over N200 million. “Messrs Airtel Nigeria stripped the building from rooftop to floor-base and replaced it, plumbing and all. Our unreserved gratitude goes to Airtel Nigeria for this far-sighted good deed. Mr. Segun Ogunsanya, who headed Airtel Nigeria then and who is now heading Airtel Africa PLC was resolutely

committed to this project and spared no expense to see it through. “We owe him a debt of gratefulness. The Airtel Team assigned to us, headed by Mr Emeka Opara did a fantastic job. If five multinationals in Nigeria would do what your company has done for us yearly, life will be paradise on earth. “I thank the LUTH Board that gave all the backing for this project, the Management Team that saw it through, the Engineering Department and our CMAC, DCMACS, Head of Nursing and all who contributed to this work. “Government alone cannot fund the healthcare sector. I hope others shall join this trend pioneered by the likes of Airtel Nigeria. Airtel has won the right to boldly brand Block A in color Red. We look forward to seeing colors such as Yellow, Green, other hues and shades splashed on our buildings soon!. The lives saved here by this noble deed may be our own. I thank Airtel Nigeria for this great deed and hope it will be the harbinger of good things to come.”

a promise kept, the Chief Executive Officer and Managing Director, Airtel Nigeria, Chemmenkotil Surendran, noted that the telecommunication’s firm is committed to transforming lives and fulfilling its promises. He also added that the facility will further smoothen the delivery of healthcare services in Nigeria and help foster healthcare inclusion especially for those who can’t afford healthcare. He said, “For us at Airtel, today also holds special significance because we have kept to our word and promise. Some months ago, we approached the Chief Medical Director of LUTH, Professor Chris Bode, to make known our intention to partner LUTH in delivering quality and affordable healthcare to Nigerians, especially the vulnerable, hard to reach and underprivileged “Today, I am glad to share that we have fully redeemed our pledge. At Airtel, we keep our words and promises. We believe that we are a major stakeholder in Nigeria and we have a duty and responsibility to impact the various communities we serve positively.”

A Promise Kept Stressing at the inauguration that it was

New Dimension of CSR According to the CMD, this bold move is a new dimension in CSR among multinational organisations and a boost to public health institutions in Nigeria. It is worthy of emulation now we are seeing a deepening of this trend in our space. “ Last month, the Lions Club District 404 A1 donated the Lion Isaac Olusola Dada Dialysis Centre and Renal Institute to LUTH. Built at a cost of over N300m, it will house 32 dialysis machines and a renal research centre. “Other similar projects in the hospital are challenging multinationals to invest in areas that can meaningfully impact the lives of ordinary Nigerians as very few citizens can fly overseas at great expense,” he charged.

As endowed as LUTH presently seems, there is room for value addition as Corporate Social Responsibility or investments that upgrade existing facilities, bridge infrastructure gaps and introduce cuttingedge equipment and technology

T H I S D AY ˾ ˜ DECEMBER 9, 2021

BUSINESS/MONEYGUIDE

Access Bank, IFC Empowers 100 Female Entrepreneurs Across Africa, Gives $22,000 in Grant Nume Ekeghe

Access Bank Plc and the International Finance Corporation (IFC) have empowered 100 female entrepreneurs across Africa who graduated from the bank’s ‘W’ Womenpreneur pitch-a-ton Africa initiative. The initiative, which is the third installment saw participants go through a mini Masters in Business Administration (MBA) programme by the International Finance Corporation (IFC), a member of the World Bank Group and the top 5 finalist were given a grant of $22,000 This year’s program had over 37,000 applications which was later pruned down to 100 participants span across Africa where Access Bank’s ‘W’ Initiative has its presence. The countries are Nigeria, Kenya, Ghana, Rwanda, Zambia, Sierra Leone and Gambia, Mozambique and Democratic Republic of the Congo (DRC). Speaking on at womenpreneur

pitchaton grand finale in Lagos recently, the Group Managing Director Access Bank, Mr. Herbert Wigwe said: “Access Bank is offering support for these female owned businesses to help them get back on their feet through access to finance at friendly rates, mentoring sessions and consulting support. Access Bank recognised long ago the economic power ofencouraging and supporting women generally as well as female entrepreneurs because we believe women deserve quality education, the same rights as men, equal access to financial services, and equal decision-making power at the managerial level. “This program is designed to provide quality training as well as financial and business skills to female entrepreneurs in Africa, through an IFC-certified mini-MBA.” In her remarks, Chairman, Access Bank Plc, Dere Awosika, said the fact that the bank has not allowed the happenings

globally to stop it from being able to develop and celebrate entrepreneurship in womanhood, is a great step forward for them in Access Bank. “For us in Access bank, Women are indeed very special; Women contribute a great deal to our going forward and to the expansion of the business in banking. So we thank God and we salute all those that are making such efforts to develop and bring up more women climbing up the ladder and identifying talents. “Over the years, we see that such talents become great entrepreneurs, not just in Nigeria but beyond. Great works they have been doing, unimaginable things they have done to put not just Nigeria on the spot but Africa,” Awosika said. On his part, Principal Investment Officer, IFC, Mr. Musonda Chipalo said: “So, women entrepreneurs are a dominant force for sustained and equitable economic growth.

L-R (Front Row): Member, Governing Council, UNIMED, Ondo, Niran Akinniyi; Governor of Ondo State, Oluwarotimi Akeredolu, SAN; Vice-Chancellor, University of Medical Sciences, Ondo, Prof. Adesegun Fatusi; Co-founder, Aluko & Oyebode (Barristers & Solicitors), Mr. Gbenga Oyebode; former Dean of the Faculty of Pharmacy, University of Lagos, Rev. (Professor) ‘Fola Tayo, MFR and other members of the Olu Akinkugbe Pharmacy Education Trust (OAPET) during the foundation-laying ceremony of the Olu Akinkugbe Faculty of Pharmacy at the University of Medical Sciences (UNIMED), Ondo…recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021

FG to Collaborate With Israel on Research, Poverty Reduction

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

Michael Olugbode ÓØ ÌßÔË

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

The federal government has expressed it’s readiness to collaborate with Israel on investment on youth innovative and research programmes to tackle poverty in the country. Vice President Yemi Osinbajo made this known in his address at the Innovative Fellowship for Aspiring Inventors and Researchers (i-FAIR-2) inaugural ceremony on Tuesday in Abuja. Osinbajo, who was represented at the event by Minister of Science and Technology, Ogbonnaya Onu said, “Nigeria was not just great in the past; Nigeria will be one of the greatest nations on earth. I-FAIR-2 was organised by the Israeli Embassy in collaboration with the Office of the Vice President and Skill G Ltd., Gregory University and DeNovo, private sector-based organisations. Osinbajo said: “President Muhammadu Buhari is working very hard and we will give him all necessary support to lay the solid foundation for this to be

achieved. There is no reason for our nation Nigeria or even, Africa to be poor, because we have everything that every other continent is looking for, but these things were just placed there for us by God. Other nations and other continents come into Africa take these resources to develop their country; the question is why can’t we not do it?” He added that. “We have young men and women that can compete; whenever young people who have dreams and determined come together, and are prepared to work to change the world, we must support you. So, we want to assure you that the government under President Buhari will give you the support.” Speaking, Charge d’Affaires and Acting Ambassador of Israel to Nigeria, Mr Yotam Kreiman, said that the programme was put together amidst challenges of the Covid-19 pandemic. According to him, to look back and see how far we have come in the building of this initiative into platform that elevate innovation

and entrepreneurship in Nigeria is remarkable. “Every person here has been invited to this event, because of the part you play in advancing the cause of innovation and entrepreneurship in Nigeria. Israel invites any and all parties represented here to collaborate and build more success stories like the i-FAIR initiative. To the mentors and participants of i-FAIR, I congratulate you on the fascinating journey ahead of you for the next 6 months and I look forward to presenting your results proudly,” Yotam said. The Speaker, House of Representatives, Mr Femi Gbajabiamila, said that there is every need for the government to encourage Nigerian youths to become Innovators and Inventors. Gbajabiamila was represented by Mr Olajide Olatubosun, Member representing Atisbo/ Saki-West/Saki-East Federal Constituency, Oyo State and Chairman of Nigeria-Israel Friendship Group.

---- 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

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

Minimum Rediscount Rate (MRR)

UBA Foundation Gives N7.5m, Laptops as Education Grant

Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

Nume Ekeghe

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

UBA Foundation, the CSR arm of the United Bank for Africa (UBA) Plc, has given out a total of N7.5 million and laptops to winners who emerged from its eleventh annual National Essay Competition (NEC). 15-year-old Eziaku Esther, who received a N3 million grant is a student of His Grace High School, Enugu State, emerged the overall winner with the best essay as she Esther beat 11 other finalists selected from over 7,000 entries received digitally by the UBA Foundation from students of senior secondary schools across Nigeria. The second prize was bagged by Nduka Chukwuemeka, male, aged 17, of Oxfords international School, Abia State, who won a

N2,500,000 educational grant and a laptop; while the third prize of N2,000,000 and a brand new lap top went to 15-year old Hajarat Abdulwahab of Addy Basic School, Kano. The other 9 finalists also received brand new laptops as well as consolation prizes, including books and other learning materials Speaking at the prize presentation in Lagos recently, the Managing Director/ Chief Executive Officer of UBA Plc Mr. Kennedy Uzoka, said UBA as a bank is happy that it has been touching lives and making a solid impact through the UBA Foundation, adding that the annual competition which is in its 11th year, has produced hundreds of winners, some of who have long graduated from higher schools and have been impacting their communities.

He said, “Like we did last year, we again increased the prizes to match the rising cost of living. Over the years, we have been assured that we are doing something very unique and truly African, and this is why the initiative is for those who wish to study in Africa, because we are proud of our continent.” The MD/CEO, UBA Foundation, Bola Atta, whilst congratulating the winners, commended them for their exceptional brilliance. “Every student who sent in an entry is a winner. To be confident about your writing skills and ambitious enough to enter a competition to further enhance your educational path is laudable. For those that did not win, I would say do not be discouraged.

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OPEC DAILY BASKET PRICE ˜ ͵

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

Yuguda: Identity Management Will Resolve Unclaimed Dividends, Other Issues in Capital Market Kayode Tokede The Securities and Exchange Commission (SEC) has disclosed that the commission is engaging relevant stakeholders in a bid to resolve issues of identity management, which will assist in solving the rising unclaimed dividends in the capital market as well as other issues. The Director-General of the SEC, Lamido Yuguda, pointed out that part of the problems

of unclaimed dividends has to do with identity management, saying the Commission is currently engaging the registrars’ stakeholders and increasing investors’ education to stem the trend. Identity theft is a fraudulent practice of using another person’s name and personal information to obtain shares, credit, loans among others. Yuguda stated this during a presentation of the 2022 budget of the Commission before the House

P R I C E S MAIN BOARD

F O R DEALS

of Representatives Committee on Capital Markets and Institutions in Abuja, Tuesday. 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 comprises the SEC, the registrars, the stockbrokers, the issuing houses, the CSCS, and NSE, in addition to the e-dividend management committee.

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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. “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

T R A D E D MAIN BOARD

A S

committee some of the milestones achieved in solving some of these issues and we believe it will have a massive impact”. The SEC boss disclosed that the Commission is also working to combat challenges confronting the Commission on Information Technology. He said, “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”.

O F

Yuguda said the 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.

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THURSDAY, ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

Thursday, December 9, 2021

dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĨĞůů ďǇ ϭϰďƉƐ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĂĚǀĂŶĐĞĚ ϲϭďƉƐ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĚĞĐůŝŶĞĚ ďǇ ϭϰďƉƐ ƚŽ ƐĞƩůĞ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĂĚǀĂŶĐĞĚ ϲϭďƉƐ ƚŽ ĐůŽƐĞ Ăƚ

THISDAY AFRINVEST 40 INDEX

Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ ϭ͕ϴϰϮ͘ϳϰ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ďƵǇŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ 'd K ;нϬ͘ϲйͿ͕ t W K DdEE ;нϰ͘ϱйͿ͕ ĂŶĚ t W K ;Ͳϭ͘ϯйͿ͕ ĂŶĚ h ;ͲϬ͘ϳйͿ͘ ;нϮ͘ϭйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵͲ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂͲ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘ ůĂƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϭϱ͘ϭй ŽĨ ƚŚĞ ŝŶĚĞǆ͘ ^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй DdEE >ĞĂĚƐ ZĂůůǇ ŽŶ E'y͘͘͘ ^/ ƵƉ ϭ͘Ϭй

zĞƐƚĞƌĚĂǇ͕ ƚŚĞ ƉƌŝĐĞ E'y ůůͲ^ŚĂƌĞ ƵƉƟĐŬ /ŶĚĞǆ ŝŶ ŐĂŝŶĞĚ ,KEz&>KhZ ϭ͘Ϭй ƚŽ ;нϵ͘ϴйͿ͕ E' D ϰϮ͕ϰϯϱ͘ϭϲ ƉŽŝŶƚƐ ;нϯ͘ϯйͿ͕ ĚƵĞ ĂŶĚ ƚŽ & E, ďƵǇŝŶŐ ;нϬ͘ϳйͿ ŝŶƚĞƌͲ ďŽůͲ ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ ĞƐƚ ŝŶ DdEE ;нϰ͘ϱйͿ͕ h ;нϱ͘ϯйͿ͕ ĂŶĚ ^ŚĂƌĞ E'^h' Z ;нϲ͘ϳйͿ͘ ŝŶĚĞǆ ĐĐŽƌĚŝŶŐůǇ͕ zd ƌŽƐĞ ƌĞƚƵƌŶ ŝŵƉƌŽǀĞĚ ďǇ

Ticker

THISDAY AFRINVEST 40

1,842.74

0.61%

955.00

0.0%

33.9%

74.50

0.0%

10.4%

24.30

0.6%

6.7%

1 Airtel Africa PLC 2 BUA Cement Plc 3 Guaranty Trust Holding Co PLC 4 Zenith Bank PLC 5 Dangote Cement PLC 6 MTN Nigeria Communications PLC 7 Nestle Nigeria PLC

ϭϭďƉƐ ƚŽ ϱ͘ϰй ƚŽ ǁŚŝůĞ ϯϵ͕ϱϱϬ͘ϯϲ ŵĂƌŬĞƚ ƉŽŝŶƚƐ͘ ĐĂƉŝƚĂůŝƐĂƟŽŶ ŽŶƐĞƋƵĞŶƚůǇ͕ ƌŽƐĞ zd േϮϭϳ͘ϮďŶ ůŽƐƐ ŝŵͲ ƚŽ

8 Lafarge Africa PLC 9 Access Bank PLC

ƉƌŽǀĞĚ േϮϮ͘ϭƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ƐƚƌĞŶŐƚŚĞŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůͲ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďǇ

10 United Bank for Africa PLC 11 FBN Holdings Plc

േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ǁĂƐ ŵŝǆĞĚ ĂƐ ǀŽůƵŵĞ ƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ϭ͘ϲй ĂŶĚ ϴ͘ϳй ƌĞƐƉĞĐƟǀĞůǇ ƚŽ ϲϰϵ͘ϴŵ ƵŶŝƚƐ ƚƌĂĚĞĚ ĂŶĚ േϳ͘ϮďŶ͘ ĚĞĐůŝŶĞĚ & E, ďǇ ;ϰϰϭ͘ϵŵ Ϯϭ͘ϲй ƚŽ ƵŶŝƚƐͿ͕ ϭϭϬ͘ϴŵ ^d Z>E E< ƵŶŝƚƐ ǁŚŝůĞ ;ϲϰ͘ϰŵ ǀĂůƵĞ ƚƌĂĚĞĚ ƵŶŝƚƐͿ͕ ƌŽƐĞ ĂŶĚ ďǇ 'd K ϴϴ͘ϱй ;ϮϬ͘ϳŵ ƚŽ േϯ͘ϭďŶ͘ ƵŶŝƚƐͿ dŚĞ ůĞĚ ŵŽƐƚ ďǇ ǀŽůƵŵĞ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ǁŚŝůĞ ďǇ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ & E, ;േϱ͘ϬďŶͿ͕ 'd K ;േϱϬϭ͘ϰŵͿ͕ ĂŶĚ ^ W> d ;േϯϲϳ͘ϭŵͿ ƵŶŝƚƐͿ͕ ůĞĚ ďǇ ǀĂůƵĞ͘ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕ E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďǇ ǀĂůƵĞ͘ ƵůůŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ĐƌŽƐƐ ŽƵƌ ƐĞĐƚŽƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďƵůůŝƐŚ ĂƐ Ăůů ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ͘ dŚĞ &ZͲ/ d ŝŶĚŝĐĞƐ ůĞĚ ŐĂŝŶͲ ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĂŶĚ ĂŶŬŝŶŐ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ĞƌƐ͕ ƵƉ Ϯ͘Ϯй ĂŶĚ ϭ͘ϴй ƌĞƐƉĞĐƟǀĞůǇ ĨŽůůŽǁŝŶŐ ďƵǇŝŶŐ ŝŶƚĞƌͲ ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞǆ ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ĞƐƚ ŝŶ DdEE ;нϰ͘ϱйͿ͕ h ;нϱ͘ϯйͿ͕ ĂŶĚ ^^ ;нϯ͘ϱйͿ͘ ŝŶĚĞǆ ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ dƌĂŝůŝŶŐ͕ ƚŚĞ Kŝů 'ĂƐ ĂŶĚ ŽŶƐƵŵĞƌ Ğƌ 'ŽŽĚƐ ĂŶĚ Θ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ 'ŽŽĚƐ ĚŽǁŶ ŝŶĚŝĐĞƐ ƌŽƐĞ ϰ͘ϲй ĂŶĚ ϭϭϰďƉƐ ĂŶĚ ϲϰďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŝŶ ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ ^ W> d ;нϮ͘ϱйͿ͕ E'^h' Z ĂŶĚ ,KEz&>KhZ ϵ͘ϭйͿ͕ hE/> s Z ;Ͳϯ͘ϱйͿ͕ ;нϲ͘ϳйͿ͕ >/E< ^^hZ ;Ͳϲ͘ϰйͿ͕ ;нϲ͘ϱйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ /ŶĚƵƐƚƌŝĂů ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ĂĚǀĂŶĐĞĚ ϲϮďƉƐ ĂŶĚ ϭϬďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďǇ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůůͲ ƚŚĞ ďĂĐŬ ŽĨ ŐĂŝŶƐ ŝŶ D E^ Z ;нϳ͘ϮйͿ ĂŶĚ t W K ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘ ;нϮ͘ϭйͿ͘ ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ Ğƌ͕

ƵƉ

ϭ͘ϴй

ĚƌŝǀĞŶ

ďǇ

ƉƌŝĐĞ

ĂƉƉƌĞĐŝĂͲ

ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ ϭ͘ϳǆ ĨƌŽŵ ϭ͘ϭǆ ĂƐ ϭϵ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ďǇ ϭϭ ŵĂƌŬĞƚ ƐƚŽĐŬƐ ĚĞͲ /ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďƌĞĂĚƚŚ

12 Nigerian Brew eries PLC 13 Stanbic IBTC Holdings PLC 14 International Brew eries PLC 15 Flour Mills of Nigeria PLC 16 SEPLAT Energy PLC 17 11 PLC 18 Okomu Oil Palm PLC

E'^h' Z ;нϲ͘ϳйͿ ůĞĚ ŐĂŝŶĞƌƐ ǁŚŝůĞ hd/y ;Ͳϵ͘ϳйͿ͕ ĨƌŽŵ ϭ͘ϯǆ ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ

Price Change Index to Date

ROE

ROA

P/E

4.9x

P/BV

Divindend Earnings Yield Yield

25.6%

84.3%

15.0%

3.5%

12.1%

14.7%

5.2%

0.7x

5.4%

17.5%

-3.7%

19.1%

11.2%

35.8x

6.7x

-24.9%

24.8%

3.9%

3.7x

0.9x

12.4%

27.2% 30.7%

1.9% 2.8%

24.00

0.0%

6.3%

-3.2%

20.9%

2.8%

3.3x

0.6x

12.5%

280.00

0.0%

6.6%

14.3%

40.4%

16.7%

13.9x

5.4x

6.3%

7.2%

174.50

4.5%

4.8%

2.7%

179.2%

14.1%

12.6x

19.1x

6.0%

7.9%

1,395.00

0.0%

3.5%

-7.3%

106.8%

15.6%

27.1x

31.8x

4.3%

3.7%

23.90

2.1%

3.6%

13.5%

11.6%

8.4%

8.9x

1.0x

4.2%

11.2%

9.00

3.4%

2.9%

6.5%

17.0%

1.4%

2.5x

0.4x

9.4%

39.6%

7.95

5.3%

2.4%

-8.1%

2.0x

0.4x

6.9%

50.0%

11.40

-0.9%

3.7%

59.4%

3.9%

14.9%

46.95

0.0%

1.7%

-16.2%

37.00

0.0%

1.9%

-2.0%

8.4%

0.8%

6.7x

0.6x

-16.2%

5.3%

1.9%

43.3x

2.3x

2.3%

-2.0%

15.4%

2.0%

8.5x

1.4x

11.0%

11.8%

-10.3%

-3.9% 4.4x

0.7x

5.8%

22.9%

4.90

0.0%

1.2%

-17.6%

28.30

0.0%

1.1%

8.8%

630.10

2.5%

1.5%

56.6%

3.4%

1.9%

14.5x

0.5x

6.5%

6.9%

10.3%

0.9x

-11.6%

0.0%

19 Fidelity Bank PLC 20 Ecobank Transnational Inc 21 Dangote Sugar Refinery PLC 22 FCMB Group Plc 23 Sterling Bank PLC 24 NASCON Allied Industries PLC 25 Transnational Corp of Nigeria 26 Presco PLC 27 Unilever Nigeria PLC 28 PZ Cussons Nigeria PLC 29 United Capital PLC 30 Guinness Nigeria PLC 31 Custodian and Allied Insurance 32 AIICO Insurance PLC 33 TotalEnergies Marketing Nigeri 34 Julius Berger Nigeria PLC 35 Wema Bank PLC 36 Union Bank of Nigeria PLC 37 Oando PLC

142.00

0.0%

1.2%

56.0%

38.8%

25.2%

9.7x

3.4x

5.3%

2.38

-0.8%

0.6%

-5.6%

12.0%

1.1%

2.1x

0.2x

9.2%

8.50

4.3%

0.9%

41.7%

14.8%

0.9%

2.3x

0.3x

16.00

6.7%

0.5%

-9.1%

2.90

-1.0%

0.5%

-12.9%

47.5% 42.8%

1.6x

9.4% 5.2%

1.49

2.1%

0.3%

-27.0%

10.1%

0.9%

3.2x

0.3x

3.4%

14.00

0.0%

0.3%

-3.4%

21.3%

6.9%

13.2x

2.6x

2.9%

7.6%

0.95

0.0%

0.4%

5.6%

11.1%

2.3%

5.0x

0.5x

1.1%

19.8%

87.80

0.0%

0.3%

23.7%

2.1x

1.1%

13.20

0.0%

0.2%

-5.0%

-1.3%

-0.8%

6.00

0.0%

0.2%

13.2%

1.2x

30.9%

-1.1% 4.2%

9.75

0.0%

0.4%

107.0%

2.2x

7.2%

36.50

0.0%

0.4%

92.1%

8.1%

3.8%

13.0x

1.0x

1.3%

7.7%

7.50

0.0%

0.2%

28.2%

24.7%

7.5%

3.7x

0.9x

7.3%

27.1%

7.2%

1.1%

388.9x

0.7x 2.0%

20.3%

0.70

0.0%

0.3%

44.5%

45.8%

216.80

0.0%

0.3%

66.8%

24.80

0.0%

0.2%

40.7%

20.7%

2.5%

4.3x

0.8x

1.7%

23.1%

0.80

1.3%

0.1%

15.9%

13.7%

0.8%

3.8x

0.5x

5.0%

26.5%

0.0%

7.1%

0.8%

5.4x

0.5x

5.3%

0.7%

0.1%

22.4%

14.5%

2.6%

2.0x

0.3x

4.7x

0.6x

4.53

38 Notore Chemical Industries Ltd 39 Beta Glass PLC 40 Transcorp Hotels Plc

22.4%

0.3%

4.9x

62.50

0.0%

0.1%

0.0%

-41.3%

-9.2%

52.95

0.0%

0.1%

-4.4%

14.8%

10.1%

5.38

0.0%

49.4%

18.7% 51.3%

2.3x

-20.3% 2.0%

21.4%

0.9x T o p 10 T r a d e s b y V o l u m e

T o p 10 G a i n e r s P ric e

P ric e C hg %

T ic k er

Vo lum e

P ric e C hg %

M EYER

0.28

7.7%

FB NH

441.9

-0.9%

M A N SA R D

2.22

7.2%

ST ER LN B A N K

64.4

2.1%

D A N GSUGA R

16.00

6.7%

GT C O

20.7

0.6%

H ON YF LOUR

3.60

6.5%

UB A

14.7

5.3%

UB A

7.95

5.3%

A C C ESS

12.3

3.4% 0.0%

T ic k er

0.67

4.7%

Z EN IT H B A N K

11.9

174.50

4.5%

ET I

8.6

4.3%

ET I

8.50

4.3%

F ID ELIT YB K

5.0

-0.8%

GLA XOSM IT H

5.55

3.7%

T R A N SC OR P

4.1

0.0%

A C C ESS

9.00

3.4%

UC A P

3.8

0.0%

J A IZ B A N K M TNN

ĐůŝŶĞĚ͘ D z Z ƌĂƟŽͿ͕ ;нϳ͘ϳйͿ͕ D E^ Z ƐĞƩůŝŶŐ ;нϳ͘ϮйͿ͕ ĂŶĚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ Ăƚ ϭ͘ϲǆ

Price Previous Current Change Price YTD Weighting Change

Current Price

ZKz > y ;Ͳϴ͘ϭйͿ͕ ĂŶĚ D E &/d ;Ͳϳ͘ϳйͿ ůĞĚ ĚĞĐůŝŶĞƌƐ͘ /Ŷ ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ D zͲ T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s

ƚŽĚĂǇ͛Ɛ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ ƚŽ ŐĂŝŶĞƌƐ ƐƵƐƚĂŝŶ < Z ƚƌĂĚŝŶŐ ;нϵ͘ϴйͿ͕ ƐĞƐƐŝŽŶ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŝƚƐ ďƵůůŝƐŚ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ŝŵƉƌŽǀĞĚ ƐĞŶƟŵĞŶƚ ͘ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ ^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ zĞƐƚĞƌĚĂǇ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝǆĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůǇ ǁŝŶĚƐ ƵƉ͘

T ic k er

P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

C UT IX

2.61

-9.7%

FB NH

5040.2

-0.9%

R OYA LEX

0.57

-8.1%

GT C O

501.4

0.6%

M B EN EF IT

0.24

-7.7%

SEP LA T

367.1

2.5%

SOVR EN IN S

0.23

-4.2%

Z EN IT H B A N K

285.3

0.0%

-2.5%

M TNN

143.5

4.5%

UB A

116.0

5.3% 3.4%

NA HCO

3.50

C A VER T ON

1.73

-1.7%

UP D C R EIT

4.05

-1.2%

A C C ESS

110.6

-1.2%

ST ER LN B A N K

95.9

2.1%

71.2

4.3%

46.4

0.0%

C H A M P ION

2.55

FCM B

2.90

-1.0%

ET I

FB NH

11.40

-0.9%

T OT A L

THURSDAY DECEMBER 9, 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 07Dec-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 159.95 161.34 -1.19% Afrinvest Plutus Fund 100.00 100.00 9.14% Nigeria International Debt Fund 317.85 317.85 -17.32% Afrinvest Dollar Fund 101.36 102.41 -8.30% 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 3.24 3.29 -6.26% 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 8.66% Anchoria Equity Fund 133.87 135.58 0.65% info@anchoriaam.com Anchoria Fixed Income Fund 1.14 1.14 -14.03% 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 19.95 20.56 10.03% ARM Discovery Balanced Fund 446.80 460.27 11.60% ARM Ethical Fund 39.60 40.80 17.48% ARM Eurobond Fund ($) 1.07 1.08 -1.86% ARM Fixed Income Fund 0.99 0.99 -5.52% ARM Money Market Fund 1.00 1.00 8.62% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 107.71 107.71 5.90% AVA GAM Fixed Income Naira Fund 1,060.10 1,060.10 6.01% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.04 2.04 -3.35% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.18 2.23 0.60% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.04 1.04 5.25% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.87% Cordros Milestone Fund 130.38 131.19 11.30% Cordros Dollar Fund ($) 110.18 110.18 5.66% 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 1.00 1.00 8.04% Coronation Balanced Fund 1.24 1.26 3.54% Coronation Fixed Income Fund 1.42 1.42 -10.21% 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 7.77% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 8.64% EDC Nigeria Fixed Income Fund 1,171.41 1,195.58 1.95% 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 1,381.58 FBN Balanced Fund 171.05 FBN Halal Fund 114.98 FBN Money Market Fund 100.00 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

122.03 145.26 Bid Price N/A N/A N/A N/A

1.10 8.97% 104.32 4.28% invest@fbnquest.com Offer Price 1,381.58 172.27 114.98 100.00

Yield / T-Rtn 11.39% 2.76% 9.27% 8.98%

122.03 3.98% 147.22 10.27% fcmbamhelpdesk@fcmb.com Offer Price N/A N/A N/A N/A

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

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 7.99% Vantage Balanced Fund 2.82 2.88 -1.44% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 155.57 155.84 0.04% 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 4.00% 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 1,153.37 1,153.37 8.08% 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 11.17 11.25 6.82% 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) 101.39 101.39 7.55% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.89% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.57 1.60 13.28% PACAM Fixed Income Fund 11.10 11.13 -8.58% PACAM Money Market Fund 10.00 10.00 7.96% PACAM Equity Fund 1.43 1.44 -9.72% PACAM EuroBond Fund 112.33 114.60 2.45% 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 3,332.06 3,363.54 3.69% Stanbic IBTC Bond Fund 235.14 235.14 4.58% Stanbic IBTC Ethical Fund 1.23 1.25 5.08% Stanbic IBTC Guaranteed Investment Fund 311.85 311.85 5.83% Stanbic IBTC Iman Fund 232.52 236.03 6.55% Stanbic IBTC Money Market Fund 100.00 100.00 7.42% Stanbic IBTC Nigerian Equity Fund 10,784.49 10,939.42 2.77% Stanbic IBTC Dollar Fund (USD) 1.29 1.29 5.03% Stanbic IBTC Shariah Fixed Income Fund 116.64 116.64 5.01% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 105.84 105.84 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 2.27% United Capital Bond Fund 1.95 1.95 6.35% United Capital Equity Fund 0.90 0.92 13.09% United Capital Money Market Fund 1.00 1.00 9.04% United Capital Eurobond Fund 121.92 121.92 6.48% United Capital Wealth for Women Fund 1.06 1.08 4.07% United capital Sukuk Fund 1.07 1.07 7.08% 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 12.89 13.00 8.61% Zenith ESG Impact Fund 14.36 14.51 17.64% Zenith Income Fund 24.79 24.79 3.29% Zenith Money Market Fund 1.00 1.00 6.78%

REITS NAV Per Share

Yield / T-Rtn

124.98 54.20

10.62% 7.24%

Bid Price

Offer Price

Yield / T-Rtn

13.43 125.01 100.36 17.23 20.63

13.53 128.12 102.56 17.33 20.73

4.37% 3.96% 1.16% -4.77% 11.91%

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

3.76 5.37 17.29 1.00 21.76 157.41

3.86 5.47 17.49 1.00 21.96 159.41

0.40% -5.46% 6.88% 7.72% 5.99% -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.

THURSDAY DECEMBER 9, 2021 •T H I S D AY

THURSDAY DECEMBER 9, 2021 • T H I S D AY

THURSDAY DECEMBER 9, 2021 •T H I S D AY

THURSDAY DECEMBER 9, 2021 • T H I S D AY

THURSDAY, ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

UNVEILING BUA FOODS... L-R: Chief Financial Oﬃcer, BUA Foods, Mr. Abdulrasheed Olayiwola; Executive Director, Operations, Khalifa Isyaku Rabiu; Non-Executive Director, Kabiru Rabiu; Chairman, BUA Foods, Abdul Samad Rabiu; NonPHOTO: SUNDAY ADIGUN Executive Director, Chimaobi Madukwe and the Managing Director/CEO, Engr. Dele Abioye, during the media launch and unveiling of BUA Foods Logo held in Lagos… yesterday

Finally, Aiteo Halts Bayelsa Wellhead Blowout, Begins Remediation Process Youth leaders hail Buhari, oil company, others Emmanuel Addeh and Udora Orizu in Abuja Aiteo, operator of the Nigerian National Petroleum Corporation/ Aiteo Joint Venture (JV), Oil Mining Lease (OML) 29, yesterday finally succeeded in shutting down the leak on its Santa Barbara wellhead in Nembe, Bayelsa state. A statement signed by the Group Managing Director of the indigenous oil company, Mr. Victor Okoronkwo, yesterday, explained that the impaired facility had been brought under control, the flow stopped and the well secured. In reaction to the development, the Council of Ethnic Youth Leaders of Nigeria have hailed President Muhammadu Buhari, the Minister of State Petroleum Chief Timipre Sylva, AITEO, Clean Nigeria Initiatives and everyone that play in shutting down the oil spill in Santa Barbara wellhead. According to Okoronkwo, the shutting down of the leak was achieved against the backdrop of very challenging circumstances exacerbated by the weather, the tidal cycle in the creek, and the silted slot of the well resulting in reduced effective working hours. The company had on Friday, November 5, 2021, reported a hydrocarbon wellhead leak on the facility to the Nigerian authorities. Aiteo stated that the well, which the company acquired in 2015, had been mostly dormant and had been securely isolated since then, describing the leak as a high pressure one. Also in preparation for the “well

kill”, Aiteo had raised a team comprising members from its internal well operations experts and had contacted a foreign firm, Boots & Coots to help in the operation. That was in addition to the earlier mobilisation of the Clean Nigeria Associates (CNA) in an attempt to halt the blowout which was said to comprise about 20 per cent oil and 80 per cent gas. Stating that the challenges impacted the timeline of the operation, Aiteo noted that with the successful operation, it could confirm that there are no more leakage from the well. The company added that it was remarkable that even with the dangers of the high exposure and risk, the entire operation had been executed and delivered with zero incident and zero fatality. It explained that the clean-up efforts that were being concurrently executed throughout the period to limit the spread of hydrocarbon would now be comprehensively escalated. To this end, Okoronkwo stated that the concerted efforts would further be channelled immediately into increasing remediation measures. The GMD pointed out that in prosecuting the remediation activities and in aligning with Aiteo E&P’s strategic priorities to ensure uninterrupted continuation of the living conditions, the wellbeing of the communities remains the paramount consideration. “This successful milestone is a remarkable testament to the capabilities that exist within indigenous players when faced with incidents of such magnitude, even when

unanticipated. “Although indigenous participation in the upstream space is nascent, the efforts evident in the management of this incident, especially the remarkable Aiteo E&P Health, Safety and Environment (HSE) policy, foretells the progress that has been made in building, growing, and elevating both expertise and technical capabilities by indigenous

oil companies such as ours. “The professionalism with which the technical and support personnel executed this significant operation cannot be overemphasised, especially, considering the challenging operating terrain,” Okoronkwo explained. According to him, the motivation and inspiration that enabled the accomplishment to happen must

to-end encryption because the safety and security of our users and their messages is important to us,” WhatsApp’s Public Policy Lead, Akua Gyekye said, while commenting on the launch of the campaign. “While we remain committed to creating a safe space for our users to communicate privately, we encourage everyone to verify any information they receive and confirm whether it is true or false before sharing it with other people. “Regardless of the person you received the information from, as soon as you share any information,

“We thank the Honourable Minister of State for Petroleum Resources, Chief Timipre Sylva, for his resolute support; the Honourable Minister for Environment, Mrs. Sharon Ikeazor, for her unique open-mindedness and the Chief Executive, Nigerian Upstream Regulatory Petroleum Commission (NUPRC) Mr. Gbenga Komolafe, for his deft management of this situation.

Buhari Did Not Sack AEDC Management, Says Presidency NERC, BPE fault Power Minister Clarifies UBA, not FG dissolved Disco's management Deji Elumoye and Emmanuel Addeh in Abuja The Presidency yesterday formally reacted to the news making the rounds which was credited to the Minister of State for Power that President Muhammadu Buhari was the one that ordered the sack and replacement of the management of the Abuja Electricity Distribution Company, AEDC saying the report was false. In a statement by presidential spokesman, Garba Shehu, said the report cannot be true, explaining that since the privatisation of the Power Sector in 2013, the management of the successor companies has reverted to the new owners. He emphasised that it was out of place and inconceivable that the president would be linked to the management of a private organisation, let alone sacking it. According to him: "It is gladdening to note that the Minister

quoted in the statement has himself distanced himself from it. "The Presidency, therefore, wishes to state expressly and reassure investors in the economy that President Buhari did not order the sack of the management of AEDC, neither does he intend to interfere in the running of the affairs of private business entities. "The Presidency, however, welcomes ongoing discussions with relevant stakeholders to resolve the issues surrounding the recent developments in the company". Also, the Nigerian Electricity Regulatory Commission (NERC) and the Bureau of Public Enterprises (BPE) yesterday disagreed with the statement by the Minister of State, Power, Mr. Goddy Jedy-Agba, that the federal government effected the sack of the management board of AEDC. Rather, the NERC and BPE in a statement jointly signed by the Chairman of the power sector

WhatsApp Launches Campaign to Tackle Fake News in Nigeria WhatsApp, has announced the launch of #YouSaid, a campaign to educate people on how to verify information they come across before passing it on, to help reduce the spread of false news in Nigeria. The campaign offers tips for WhatsApp users to spot false news and take responsibility in minimising its spread, by encouraging people to think carefully and check authoritative sources before deciding to share any information with their friends and family, according to a statement. “At WhatsApp, all personal messages are protected with end-

receive special and deserved mention. “We thank the Almighty God without whom none of this would have been possible. Aiteo E&P expresses profound appreciation to His Excellency, President Muhammadu Buhari, GCFR, the President of the Federal Republic of Nigeria, who demonstrated immeasurable and sterling leadership in this matter.

it becomes something people think #YouSaid. “Our hope is that this campaign will open up a conversation on the importance of verifying information and thinking carefully about what people read, trust and choose to share” Gyekye added. The statement listed four easy ways to reduce the spread of false news on WhatsApp to include: understanding what a ‘Forwarded’ message means; always fact check information with other sources; looking out for messages that look different; and to read the message objectively.

It explained: “Any message that has the ‘forwarded’ label (an arrow or double arrow icon) did not start with the person who sent it to you. “They will also have received it from someone else before passing it on to you. If you are not sure the information is true, do not forward it to someone else without verifying it. “A double arrow icon and “Forwarded many times” label will be displayed when a message has been forwarded more than five times since it was originally sent and will restrict sharing to just one chat at a time.”

regulator, Sanusi Garba and the Director General of the BPE, Alex Okoh, revealed that the lending bank, the United Bank for Africa Plc (UBA), only exercised its rights over the shares of KANN consortium, part owners of AEDC. A statement on Tuesday by a media aide to the minister of state, Ofem Uket had announced that the sack of the management team was conveyed by the presidency to the federal ministry of power. “President Muhammadu Buhari has approved the suspension of the management of AEDC and a new interim governing board appointed to oversee the day-to-day operations of the electricity distribution company,” “This followed the recent industrial action embarked on by its staff over non-payment of arrears of pensions, allowances, salaries and promotion. “The sack of the management team conveyed by the presidency to the federal ministry of power takes immediate effect,” the statement by Uket had indicated. But the joint statement described the report as “misrepresentations,” in the circumstances leading to the change in the composition of the board of the licenced utility which serves end-use customers in Kogi, Nasarawa, Niger and the Federal Capital Territory (FCT). It stated that there had been a dispute amongst competing factions of AEDC’s majority shareholder/core investor, KANN Utility Company Limited, stressing that the dispute eventually spilled over to a dispute with the lender that provided the acquisition loan to KANN.

According to the NERC and BPE, the matter later deteriorated over KANN 's inability to service its debt to the bank. During the course of the intractable crisis, the statement noted that the AEDC not only struggled to meet its obligations to the market under the terms and conditions of its licence but was also unable to meet its obligations to key stakeholders in the organisation, including staff. The NERC and BPE explained that this culminated in the industrial action by members of the Nigerian Union of Electricity Employees (NUEE). “Eventually, this resulted in a total service disruption on 6th December 2021 for over 14 hours in AEDC's network area. The provision of electricity supply in AEDC’s network area was only restored after the intervention of the minister of power, NERC and BPE following an agreement with the union on the terms for the suspension of the industrial action. “The general public should note that arising from KANN's inability to service its acquisition loan and the ensuing dispute over the servicing of the loan from UBA Plc., the lender exercised its rights by appointing a receiver/manager over KANN,” it noted. However, it added that stakeholders, including NERC, the Central Bank of Nigeria (CBN) and BPE had on several times worked to broker an amicable resolution between the contending parties. It noted that the protracted resolution of the dispute exacerbated the state of affairs at the AEDC, resulting in an industrial action and a total blackout in the service area for over 14 hours.

THURSDAY, ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

FIFTY-FIVE RAID ON ODILI'S RESIDENCE: WE SHALL RESIST CLANDESTINE ATTEMPTS TO SILENCE US, CJN WARNS of its judicial officers and would no longer take it kindly in the event of any repeat of the ugly treatment to judges from security operatives. He spoke in Abuja, during the conferment of the rank of Senior Advocate of Nigeria (SAN) on 72 lawyers as well as the commencement of the 2021/2022 legal year of the Supreme Court. This was just as the President of the Court of Appeal, Justice Monica Dongban-Mensem yesterday disclosed that in its bid to tackle the challenge occasioned by the COVID-19 pandemic, the court delivered a total sum of 528 judgments, via Zoom, a virtual meeting platform in the immediate past legal year of the court. According to Muhammad, the silence of the judiciary should never be mistaken for stupidity or weakness. "On a very sad note, I must say, we were jolted with embarrassingly news of the invasion of the official residence of one of our brother Justices, Hon Justice Mary Peter

Odili on Friday October 29 by men suspected to be security operatives, acting on a search warrant. "The said warrant was purportedly obtained from an Abuja Magistrate court under questionable circumstances. "I must make it known to all and sundry that we have had enough dosage of such embarrassment and harassment of our judicial officers across the country and we can no longer take any of such shenanigans. "The silence of the judiciary should never be mistaken for stupidity or weakness", he said. "We shall begin to resist any clandestine attempt to silence or ridicule us to oblivion. Nigeria, to the best of my knowledge is not a lawless society. We should begin to do things that will project is favourably and rightly too, to the international community. "No law permits anyone to invade, subdue or overawe any Nigerian citizen in his or her residence with a flimsy, fraudulently obtained search warrant," he added.

The CJN noted that by the nature of their work, judicial officers are conservative but not conquered species and should not be pushed further by any individual, institution or agency of the government. He assured that soon, those taking judiciary as a mere weakling would soon realise that it was, “from the calmest seas we often experience the fiercest storms.” He therefore stated that, "No one, irrespective of his or her status or position in the country, should test our will because the consequences of such unwarranted provocation will be too dire to bear. "We are making efforts now to ensure that henceforth, every search or arrest warrant must be issued with the knowledge and approval of the Chief Judge of the respective state or Federal High Court as the case may be". Continuing, the CJN said the new SANs have, in all ramifications and by all standards, excelled in the practice of law and subsequently conferred with the rank.

He equally used the opportunity to lament the setback caused by the protracted strike by the Judiciary Staff Union of Nigeria (JUSUN), saying it came with excruciating impact on smooth dispensation of justice. In his remarks, the Attorney General of the Federation (AGF) and Minister of Justice, Mr Abubakar Malami, SAN, described the conferment of ‘SANship’ as a privilege. Malami who praised the judiciary noted that the arm of government has continued to complement other arms of government in spite of emerging challenges foisted on it by COVID-19, insecurity and dwindling economy, saying the judiciary has helped in the preservation of the country's hard earned democracy. "I want to state categorically that the LPPC have done a good job by putting forward deserving and qualifying lawyers, saying they must ensure that due process is followed in subsequent selection,"

No Expired COVID-19 Vaccines in Circulation, FG Clarifies Says N16.4bn saved from 10 million vaccines

Onyebuchi Ezigbo in Abuja The Minister of Health, Dr. Osagie Ehanire has denied media reports (not THISDAY) on administration of expired doses of COVID-19 vaccines in the country. In a statement yesterday, the Minister said on the contrary Nigeria had effectively utilised most of the over 10 million short-shelf-life doses of Covid-19 vaccines so far supplied in good time, and saved N16.4 billion or more than $40 million in foreign exchange. He said vaccines that expired had been withdrawn and would be destroyed accordingly, by the National Agency for Food and Drug Administration and Control (NAFDAC). Ehanire added: "The attention of

the Federal Ministry of Health has been drawn to reports circulating in the media to the effect that some Covid-19 vaccines had expired in Nigeria. "Nigeria has utilised most of the over 10 million short-shelf-life doses of Covid-19 vaccines so far supplied to us, in good time, and saved N16.4 billion or more than $40 million in foreign exchange. The vaccines that expired had been withdrawn , and will be destroyed accordingly, by NAFDAC." The minister said Nigeria had received donations of COVID-19 vaccine doses from several countries, mainly European countries out of their stockpiles, free of charge, through COVAX or AVAT facility. Giving reasons for the vaccine short expiry time, Ehanire said

some of the countries had residual shelf lives of only few months that requires just weeks for usage after deduction of time to transport, clear, distribute and deliver to users. He added that where such vaccines arrive back-to-back or are many, logistic bottlenecks occasionally arise, thereby resulting in expiration of the vaccine. He further said the federal government had refused offers by some manufacturers to extend the vaccine shelf life. "Nigeria does not dispense vaccines with a validity extended beyond labelled expiry date. We continue to adhere to our rigorous standards. "Donation of surplus Covid-19 vaccines with expiring shelf lives to developing countries has been a

matter of international discussion. Developing countries like Nigeria accept them because they close our critical vaccine supply gaps and, being free, save us scarce foreign exchange procurement cost. “This dilemma is not typical to Nigeria, but a situation in which many low and medium income countries find themselves. "Donors also recognise a need to give away unused vaccines, before they expire in their own stock, but they need to begin the process early enough and create a well-oiled pathway for prompt shipment and distribution through the COVAX and AVAT facilities, to reduce risk of expiration. With better coordination, vaccines need not expire in the stock of Donors or Recipients," he said.

RENCAP PREDICTS M&A AMONG NIGERIA’S MID-TIER BANKS the upcoming Basel III policy that requires enhanced capital buffers, some of Nigeria’s tier-2 and tier-3 banks might opt for mergers and acquisitions (M&A) in order to strengthen their capital positions. The firm also forecasted in order to enhance economic recovery in the country and effectively manage inflation, the Monetary policy committee (MPC) might hike its rate by one percentage point next year. The Acting Chief Executive Officer, Renaissance Capital, Mr. Samuel Sule and the company’s Director, Frontier/ Sub-Saharan Africa Banks and Fintech, Mr. Adesoji Solanke made the predictions yesterday, during a virtual media briefing where they discussed, ‘Wrapping up 2021 and looking out for opportunities in 2022 for Nigeria and its fintech sector.’ Speaking on the outlook of the banking sector, Solanke said what would drive ratings for Nigerian banking equities would be the central bank's policy decisions, particularly with respect to the exchange rate and capital controls. Solanke said: “Nigeria remains a significant underweight in the equity portfolio majority of international clients and only those who have capital stock in the country have been participating in the equity markets. “We have not seen any meaningful capital being allocated to Nigeria, given the central bank's capital controls and exchange rate policy over the last one to two years. “Also, the naira at the investors and exporters (I&E) window is 13 per cent overvalued, the fair value for the naira of N473 per dollar. The I&E window rates at N482 per dollar by end of 2022 and also, higher transport costs below average harvest and high cost of imported food could all combine

to put upside upward pressure on inflation by the next year.” Speaking on anticipated M&A, Solanke said: “There's room for M&A and we think it would be between tier-two and tier-three banks, because now they're even much smaller in the grand scheme of things.” On his part, Sule said: “Continued growth in digitalisation trends across our markets, with the pandemic having meaningfully fast-tracked digital adoption. “As the continent continues to attract more funding, we are excited about what the entrepreneurs will build on the infrastructure layers that are getting built in payments and open banking. “We expect this to drive embedded finance which will be a major driver in how fintech companies drive digital solutions as they scale, making almost any tech company a fintech.” Furthermore, Solanke disclosed that Nigeria’s start-ups and tech companies in 2021, raised a total of $4billion in over 750 deals. He maintained that Fintech remained the most funded, accounting for well over 50 per cent of the year-to-date (YtD) funds raised, adding that Nigeria remains the most attractive market. He highlighted that OPay in 2021 raised $400million Series C, while Wave and Andela’s $200million Series A and E respectively, Flutterwave raised $170million Series C, amongst other companies. Meanwhile, Moody’s, a global rating agency has predicted that Nigeria’s external reserves would remain strong in 2022, with the expectation that it would be bolstered with the commencement of Dangote Refinery and other fiscal and monetary policies being put in place by the federal government(FG). Vice President/ Senior Credit

Officer, Sovereign Risk Group Moody, Mr. Aurelien Mali said this yesterday, during a webinar with the theme: “Nigeria: Challenges and Opportunities Arising from the Pandemic.” Also at the webinar, Group Chief Financial Officer, Ecobank Transnational Incorporated, Mr. Ayo Adepoju urged the Central Bank of Nigeria (CBN) to review the current Cash Reserve Ratio (CRR) which is pegged at 27.5 per cent. Speaking on Nigeria’s external reserves, Mali said: “ We expect the reserve to remain strong. We have a view that growth is going to average 3.5 per cent until 2025, supported also by some key project like the Dangote Refinery. “So, the research of the reserves have changed, it was extremely volatile over the last decade and the lowest point was in 2016 when you had the very active militancy in the Niger Delta after the production of oil was stopped. “But let's say that in 2018 to 2019, most of the big chunk of the increase in the reserves were foreign portfolio and inflows that were very volatile by nature. And so there was a risk that reserve could fall very quickly.” “Today it is different because the rebound of the oil price that has been supportive and the IMF gave $3.4 billion in March 2020. The Special Drawing Rights (SDR) location of $3.4 billion recently, and the country has been able to access the international market issuing $4 billion recently, you had also the World Bank, the African Development Bank, and therefore the reserves never went down like between 2015-2016 and it even rebounded. “And there is the Petroleum Industrial Act (PIA) which is an important piece of legislation, which which should increase the investment in the oil sector in the

future,” he added. On what prompted its upgrade of Nigeria’s rating, he said economic reforms and policies of the federal government had positively affected Nigeria’s rating. On his part, Adepoju who spoke on the challenges the banking sector was facing, advised that that CRR policy should be reviewed downward. Adepoju said: “The cash reserve requirement policy of the central bank is very massive, in terms of the impact on the liquidity in the local market. “In terms of the biggest elephant in the room, which is in terms of the cash reserve requirements, the policy is about 27.5 per cent but the proxies of what we've seen in the market is that the industry average is well over 40 per cent. “So, you see more of the liquidity sitting with the central bank, earning zero per cent. And when you have an industry average of cash reserve requirements over 40 per cent, that is the highest in any part of the globe as most of the markets have cash reserve either at five per cent or 10 per cent, 12 per cent or 13 per cent. “Never would you see cash reserve going to 40 per cent threshold. I understand the perspective of the central bank trying to manage excess liquidity in the market, but at the same time, it is important to ensure that the banking industry has sufficient liquidity to power through growth in the market. “For us overall, forex is not a major issue, because it's far better than where we were two years ago. So, the forex position in the industry has improved, but, of course, there's still, you know, much room, for expansion, but as long as the players continue to have access to global markets, you know, that should not be a big source of concern.”

Malami added. Speaking further, DongbanMensem further disclosed that the court disposed of 5, 669 cases and 10, 798 motions in the same year. Dongban-Mensem, who spoke at the second working retreat/annual conference of the Court of Appeal and launch of its Rules 2021, said despite a 51 per cent increase in the number of motions filed during the period under review, the court witnessed a 48 per cent increase in the number of motions disposed of by the panels as at November ending this year. She further explained that 10 hearings were also held by panels of the Court via Zoom, adding that in the last two months, a further 40 judgments were delivered via Zoom. "The administration of justice remains the primary focus of the Court. As I stated during the Legal Year, the Learned Justices of the Court, without exception, have worked incredibly to improve justice delivery this year. "As a result, we have had a 26.47 per cent reduction in the total volume of cases pending in our divisions, as compared with last year. "Similarly, despite a 51 per cent increase in the number of motions filed, we witnessed a 48 per cent increase in the number of motions disposed of by the panels over the course of this legal year. "In the face of incredible uncertainty such as the world has and is still experiencing, I am assured that the Court will rise to each and every challenge that will face us whether jurisprudentially or otherwise. "We are committed to deepening the expeditious dispensation of justice and are not afraid to think

out of the box in order to achieve it. "This informs our pivot towards a technology driven system of justice, following the precedent set by the Chief Justice of Nigeria in the technological innovations introduced to the Supreme Court", she said. The president said that the development informed the amendment of the Court's Rules of Practice in order to properly cater for this digital revolution. She stated that the 2021-2022 legal year has begun with much greater confidence following the infusion of 18 new Justices to the Court of Appeal in the course of the year 2021. "I remarked at the time of their appointment that they were joining a Family Court, which is close knit and fraternal. I can confidently state that my brother justices, when sitting as a panel, are a well-oiled machine. "It was therefore important for our new learned brother justices to be properly oriented so as not to disrupt the course of the dispensation of justice. "Having cut their teeth in the crucible of Special Panels and their various Stations, I am glad to state that our new Justices have proven their mettle and must be highly commended for their work", she added. She claimed that the court had to hear 198 motions and appeals, which according to her was commendable given that they sat in only six panels hearing an average of 33 matters per panel. Muhammad, later launched the new Practice Direction of the court with a charge on the Justice not to rest on their oars and to continue to dispense justice without fear or favor.

UTM, AFREXIMBANK SIGN $5BN FINANCING MOU FOR NIGERIA’S FIRST FLOATING LNG on oil mining lease (OML) 104 in February 2021. The block, which contains producing Yoho field, is operated by the joint-venture of Mobil Producing Nigeria (operator, 40%) and the state-owned Nigerian National Petroleum Corporation (NNPC, 60%). Preparations for the project are now in full swing and benefit from robust global and technical expertise. The pre-Front End Engineering Design (Pre-FEED) contract was awarded to JGC Corporation of Japan in May 2021 while KBR was appointed Owners Engineer. Global energy and commodities trader, Vitol, has also joined the consortium as an off-taker for the LNG. “The UTM Offshore FLNG will be the first of such a project developed by an African company on the continent,” Rone said, adding, “It will also significantly contribute to the Nigerian government’s agenda of reducing the flaring of associated gas across our industry.” According to him, “As Africa’s FLNG industry grows, we are wellpositioned to offer attractive project economics by developing shallow water gas reserves, while bringing significant environmental benefits to our industry as a whole.” The project involves the development and financing of a 1.2 million tonnes per annum FLNG facility with a capacity to process 176 MMscfd of natural gas and condensate. The unit would target the processing of associated gas currently flared in order to cut carbon emissions and monetise additional reserves for the domestic and global markets. Oramah, at the signing ceremony, commended Rone and his UTM team for rising up to one of the greatest challenges of this era. “Across the world, nations are evolving climate change goals; Africa has not been able to leverage the abundant opportunities in the continent to help meet the global climate change goals,” the bank’s chief said, explaining, “That is why Afreximbank considers what UTM

Offshore is doing, the development of Nigeria’s first FLNG not just unique but laudable.” He said the company was helping not just Nigeria but the whole of Africa to transition to clean energy and in the process, the firm is creating huge employment opportunities for Nigerians. “This is a landmark project that Afreximbank takes very seriously,” Oramah said. Beyond financing, UTM’s FLNG project to the tune of $5billion in two phases, the president of Afreximbank disclosed that the bank would be ready to offer other financial and insurance support services to the FLNG project. He said if the project succeeds, it would create jobs and aid development in Nigeria, and even more important, prove that Africa had become serious about climate change goals and would further prove that Nigerians can use the abundant potentials in Nigeria to develop Nigeria. “Truth is that nobody will develop Nigeria but Nigerians. UTM Offshore Limited, an indigenous company led by Mr. Julius Rone, has shown that it has the capacity to help develop Nigeria. It is within the mandate of Afreximbank to support what UTM is doing in Nigeria,” the Afreximbank president said. UTM Offshore Limited is pioneering the development of the FLNG facility in collaboration with LNG Investment Management Services (LIMS), a subsidiary of Nigeria National Petroleum Corporation (NNPC). The facility, a newly built vessel, will receive gas feeds from the existing offshore platform at OML 104, treat it to the required LNG standard, liquefy the gas, store the LNG and offload to LNG carriers. According to Rone, the floating LNG, when fully completed in 2026, shall have an LNG production capacity of 1.2 mmtpa, Turret and Mooring System, Gas pre-treatment modules, LNG production modules, living quarters, self-contained power generation and utilities as well as capacities for LNG storage and offloading.

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THE ROLE OF PPP IN NATIONAL DEVELOPMENT PLAN... L-R: Member, Lagos State House of Assembly, Hon. Jude Idimogu; Special Adviser to Lagos Governor on Education, Tokunbo Wahab; his counterpart for Public Private Partnerships (PPP), Mr. Ope George; Deputy Director, PPP, Federal Ministry of Finance, Mrs. Jummai Katagum; Governor Babajide Sanwo-Olu and Chairman, Lagos House of Assembly Committee on PPP, Hon. Lukman Olumoh, during the Nigeria Public Private Partnerships Network Conference in Lagos... yesterday

Osoba Urges Buhari to Sign New Electoral Act, Supports Direct Primary Onyebuchi Ezigbo in Abuja

A former governor of Ogun State and chieftain of the All Progressives Congress (APC), Chief Olusegun Osoba, has thrown his weight behind direct primary as a means of selecting candidates of all political parties as contained in the newly passed electoral amendment act

and urged President Muhammadu Buhari to sign the amended act bill into law. Addressing a delegation of Senators across the political parties and geo-political zones of Nigeria, who visited him in London to wish him speedy recovery from a knee surgery, Osoba appealed to Buhari to sign it because he too is a product

of direct primary. “I have a feeling that he will sign it. The president himself is a product of direct primary. He submitted himself to direct primary in 2019 and heaven did not fall. After he subjected himself to direct primary in all the wards, he also subjected himself to a National Convention to ratify his election

at the primary. "And quote me, I had cause to tell him at our National Caucus during Edo election that, ‘Mr. President, if you can subject yourself to direct primary and at the National Convention, I do not see why anybody should be afraid of direct primary,” Osoba said The former governor stated that

Ayu: Journey Ahead Will be Rough, There’s a Limit to What I Can Do Chuks Okocha in Abuja

The National Chairman-designate of Peoples Democratic Party (PDP), Dr. Iyorchia Ayu, has said the journey ahead of his reign as the national chairman of party would be rough and that there was a limit to what he could do as the leader of the National Working Committee (NWC).

Speaking at the valedictory session of the outgoing NWC, Ayu said, "The journey ahead is going to be turbulent and rough. Many people have attributed to me all sorts of capabilities. "I'm sorry, I am not Jesus Christ, neither am I Prophet Mohammed, I am only a team leader,who believes firmly that to run a big political party of this nature, you must

S’South, S’East Leaders Endorse Ayom for 2023 Presidency Chuks Okocha in Abuja A delegation of South-East and South-South leaders including those from Rivers and Delta States, yesterday, in Abuja endorsed Mr. Moses Ayom as a credible, competent, and unifying presidential candidate in the 2023 elections. Led by His Royal Highness, Igwe Friday Ozochi (Ozochimere Eze 1), the leaders conferred on Ayom, a 2023 presidential hopeful on the platform of the All Progressives Congress (APC), the Chieftaincy title of Ozo Ndi Igbo 1 of Nigeria (The Saviour of the Igbo race). Igwe Ozochi said they considered Ayom a fit and proper candidate to lead the country in 2023. According him, "It is with a sense of responsibility that we make this call, having watched the tussle for who and which region should produce the next president of this country. We view the cry of the Middle Belt as one that is close if not worse to that of our region, the South East. "This is because whilst our zone,

the South East, had produced a democratic President and Vice president in the persons of Dr. Nnamdi Azikiwe and vice president in the person Dr. Alex Ekwueme, all of blessed memory, the Middle Belt has produced none of these in our democratic journey. "Much as we feel every zone at the moment apart from the North West is making a genuine case for the presidency, especially, our region the South East, we believe that the Middle Belt can serve as a galvanizing front to play the uniting role you have always played in keeping Nigeria strong and united. “Having said this, we have carefully and painstakingly watched through most of the leading lights from the middle belt region and have concluded that you, Mr. Moses Ayom, fits the role for the next president of Nigeria." In his response, Ayom said he was overwhelmed with the latest support and endorsement from the people of the southeast. He recounted his experience with the Igbo people during his early visits to China over thirty years ago.

work with everybody. "We must most work as a team; there will be no divisions. We will not allow any divisions. And that will extend to all other members of the party. We intend to run an inclusive administration. "And that will include all members of the current working committee that is about to handover. It will extend to broaden the frontiers of administration to include every party leader in every state. And I believe together we will succeed. And if we succeed, I have succeeded. I thank you for the work you have done for organising this particular valedictory session," he said. Ayu said the the valedictory session should have been an expanded National Executive Committee (NEC) meeting and that everybody should have been

there to listen to the statements made. "But I think we have learned from you, because in the next couple of years, we too will be organising another valedictory Session. I will try to ensure that everybody's on board," he stated He said the founding fathers that formed the PDP had an extremely challenging circumstances, but added: "We had a vision that this party will be so big and so powerful, that it will be impossible for anybody or any circumstance to destroy it midstream. "I think that vision has been justified by the role you have played, because the party is bigger and stronger. We know it's very difficult to run a party as an opposition. But I think you have discharged your responsibilities to the best of your abilities."

the 9th National Assembly had done very well for the country in supporting what they thought was right for the executive and the country, adding that this was a payback time for the executive to reciprocate with the overwhelmingly passed electoral law to include direct primary. “In the case of direct primary, we are running a presidential system of government patternedafter that of the United States of America. It is direct primary of USA that we copied. Why are we selective? If we don’t want direct primary, then let us go back to parliamentary system of government like India, where party caucuses select candidates. "We cannot be selective on some aspects of the Presidential system that we practice while jettisoning what is its democratic content. I am confident that the President as a product of direct primary will do the right thing. I want to commend all of you. “We need to democratise. The idea of ‘we’ governors handpicking should stop. Let the people have a say. I commend the 9th National Assembly and appeal to the President in the interest of the country and democracy to sign the new electoral law,” Osoba said. Among the senators that visited him were Senator Solomon Adeola (APC, Lagos West), Senator Kashim Shetima (APC, Borno Central), Senator Isah Jubril (APC, Kogi East), Senator Micheal Nnachi (PDP, Ebonyi South), Senator

Ayo Akinyelure (PDP, Ondo Central), Senator Gershon Bassey (PDP, Cross River South), Senator Yusuf Abubakar Yusuf (APC, Taraba Central), Senator Sadiq Sulaiman Umar (APC, Kwara North), Senator Tokunbo Abiru (APC, Lagos East), Senator Bashiru Ajibola (APC, Osun Central) and Senator Hassan Mohamed Gusau (APC, Zamfara Central). In a related development, Policy and Legal Advocacy Centre (PLAC), has also urged Buhari to sign and give assent to the Electoral Bill, 2021 transmitted to him by the National Assembly since 19th November 2021. It said the president should see the signing of the Electoral Bill as an opportunity to leave a lasting legacy for Nigerians. In a statement by its Executive Director, Clement Nwankwo, PLAC stated that the bill was a product of nearly three years of work, adding that the Bill went through the entire gamut of legislative process including call for submission of memoranda, technical review, retreats and deliberations. PLAC noted that the provisions of the new Electoral Bill sought to improve the electoral system, including the process of voting, collation and announcement of results, and generally bring about significant changes that give confidence to citizens at all levels, including the grassroots, that their votes would count and their participation in governance improved.

EFCC Arraigns Dubai-bound Passenger Caught With Over 2,886 ATM Cards Wale Igbintade The Economic and Financial Crimes Commission (EFCC), yesterday, arraigned before a Federal High Court sitting in Lagos, a Dubaibound passenger, Ishaq Abubakar, for being in possession of 2886 Automated Teller Machine Cards (ATM Cards). He was arrested sometime in August this year while attempting to smuggle the said ATM cards to the United Arab Emirates (UAE). However, the EFCC upon conclusion of investigation, filed 11 counts charge of illegal possession

of just 10 ATM cards as against 2886 cards found in his possession. During his arraignment, EFCC's prosecutor, Mr. Sulaiman I. Sulaiman, told the court that the defendant, was arrested on August 22, 2020, with 10 ATM cards issued by different banks to different persons, which he intended to take to Dubai. Sulaiman told the court that the offence committed by the defendant, was contrary to and punishable 34 and 33(4) of Cybercrimes (Prohibition and Prevention ETC) Act 2015. The defendant pleaded not guilty to the charges, when it was read

to him. Following his plea of not guilty, the prosecutor asked the court to remand him in the custody of Nigerian Correctional Services (NCoS) till the determination of the charges. Responding, defendant's counsel, Mr. George Ochima, informed the court of his client's pending bail application, which he said was served on the prosecutor. In his ruling, Justice Peter Odo Lifu, held that the offences which the defendant was charged were bailable. Consequently, Justice Lifu

granted him bail in the sum of N50 million with two sureties in like sum. Justice Lifu also ordered that one of the sureties must be a landed property owner within the Court's jurisdiction, and the other must be a Grade Level 14 Officer in any Government establishment. The judge also ordered that the sureties must show to court evidence of tax payment, means of livelihood, while ordering the defendant to deposit his traveling documents with court's Deputy Chief Registrar (DCR). The trial has been fixed for February 18, 2022.

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ACCEPT OUR CONDOLENCES... L-R: Former Executive Chairman, Ovia North East Local Government Area, Bright Igbinedion; Phil Igbinedion; Edo State Governor, Mr. Godwin Obaseki; former Edo State Governor, Dr. Lucky Igbinedion; Edo State Deputy Governor, Philip Shaibu; Chairman, Edo State Chapter of the Peoples Democratic Party, Dr. Tony Aziegbemi, and former Inspector General of Police, Mr. Solomon Arase, during a condolence visit to the Igbinedion family over the passing of their late matriarch, Mrs. Maria Oredola Igbinedion, in Benin City. ... yesterday

Buhari: Evil Confronting My Administration Requires Support, Involvement of All Nigerians Tambuwal confirms bandits’ attack killed 23 in Gidan Bawa Senate mourns travelers burnt to death Deji Elumoye in Abuja and Onuminya Innocent in Sokoto President Muhammadu Buhari, yesterday, said he needed the support of all Nigerians to be able to tackle the evil that currently confronts his six-year-old administration. The president said this while reacting to the news of bandits’ attack in Sokoto, which resulted in the death of 23 people and expressed sadness over the development. Buhari, in a release by his Media Adviser, Femi Adesina, said he was very distressed at the manner of death visited on these hapless citizens, who were undertaking a legitimate journey to another part of the country. “It shows that the evil this

administration is confronting is one that requires the support and involvement of all Nigerians. I extend deep condolences to the families of the victims as I assure that the security agencies will continue to give their all to bring to an end the operations of these despicable people.” However, the Sokoto State Governor, Aminu Waziri Tambuwal, has confirmed that bandits indeed attacked a 42-seater bus traveling to Kaduna from the state on Monday and killed of 23 of the commuters. In a statement by his Special Adviser on media and publicity, Muhammad Bello, quoted the governor as saying contrary to speculations that over 40 people lost their lives in the attack, 23 people lost their lives in the attack which held at Gidan Bawa village,

Isa Local Government Area of the state. According to the statement by Tambuwal, security chiefs in the state, comprising heads of the Nigerian Army, Nigerian Air Force, the Nigerian Police, Department of State Security and the Nigerian Security and Civil Defence Corps as well as the Chairmen of Isa and Sabon Birni local government areas had briefed the governor on the incident at the Government House, Sokoto, pledging to work with him on modalities to checkmate future occurrences. “Strategies are on to make sure that this will not happen again,” said the state Commissioner of Police, Kamaldeen Okunola, who briefed journalists after a closed session with the governor. He explained that of the total

number of people in the bus, which the bandits shot at causing a conflagration, 23 died of fire burns while six sustained minor injuries and were receiving treatment at a hospital. Three of the victims whose injuries were not so serious were promptly treated and discharged, Okunola said, after the security agencies mobilised to the spot of the attack and immediately mounted a patrol on the 30 kilometers stretch of road between Gidan Bawa, the attack spot in Sokoto state and Shinkafi town in Zamfara State. Meanwhile, the Senate too has mourned the deaths of unfortunate travelers burnt by the criminals. Coming under order 43 of the Senate rules, Senator Ibrahim Gobir (Sokoto East), drew the attention of his colleagues to the

US Consulate, Partners Train Police, Civil Defence Officers on Countering GBV America's CDC celebrates 20th anniversary in Nigeria Chiemelie Ezeobi in Lagos and Michael Olugbode in Abuja As part of efforts to counter gender-based violence in Nigeria, the United States Consulate General yesterday concluded a three-day capacity building program for 100 police officers and civil defense operatives. The workshop was organised in partnership with the U.S.-based International Association of Chiefs of Police (IACP) and the Women at Risk International Foundation (WARIF), one of the foremost anti-sexual violence organisations in Nigeria. The law enforcement training program covered several topics including ways of overcoming complexities of gender-based violence, trauma-informed first response, and investigative strategies to improve law enforcement response to genderbased violence. Speaking at the closing ceremony of the training in Lagos, United States Consul General, Claire Pierangelo highlighted the US government’s commitment to

supporting initiatives that break the cycle of sexual and genderbased violence. She noted that a more open, inclusive and democratic society that respects the diversity and rights of women is critical to preventing and responding to gender-based violence. Addressing the officers, Pierangelo said: “We count on you all as you lead the improvement in the management of gender-based cases at your stations. “Gender based violence has life threatening consequences for women and girls and will have a profound impact on their opportunities and life trajectory. "No woman or girl child should live in fear of violence. Every girl should grow up knowing she is safe and free to follow her dreams and live her best life.” Meanwhile, the United States Centers for Disease Control and Prevention (CDC) has celebrated the 20th anniversary of its establishment in Nigeria. The Nigeria country office was established in November 2001, to support the country improve

its disease surveillance systems, build institutional competencies, and expand human resources for health capacities. At the 20th anniversary ceremony, US Embassy Deputy Chief of Mission (DCM), Kathleen FitzGibbon, joined CDC to celebrate the impact of CDC's support to Nigeria's health sector, stating that: “CDC's work of saving lives is the most critical mission of the US Government in its support to Nigeria." She also described the CDC mission and staff as clear evidence of the importance of health diplomacy in bilateral and multilateral relations. The CDC Director, Dr. Rochelle Walensky, also thanked the Nigeria team for their dedication and commitment to saving lives, improving the well-being of people in Nigeria, and charting a strong public health course for the future to build a healthier and safer Nigeria, the continent of Africa, and the world. She stated that despite challenges of the last several years, the over 100-member team in Nigeria

had shown great resolve and accomplished remarkable successes in collaboration with the government and partners. In her remarks, the Country Director, Dr. Mary Adetinuke Boyd, paid tribute to past leadership and recognized the staff and partners as the most critical asset for the agency. She said the combined efforts of the government, CDC staff, and partners had made Nigeria one of CDC's most prominent country offices that supports HIV and TB epidemic control, expands global health security, assists with malaria elimination, and reinforces vaccine-preventable diseases. Boyd added: "Since 2001, the collective work of the team has supported Nigeria to put over one million people living with HIV on life-saving treatment. “In addition, it supported the government to eliminate wild poliovirus, advance towards malaria elimination and establish a robust public health institute that detects, prevents, and responds to disease outbreaks."

gruesome murder of the travelers and lamented the spate of killings, which, he warned were alarming and on the increase. He called on the military and security agencies to immediately intervene by deploying personnel

to secure the lives of residents in states affected by the activities of bandits. The Senate, thereafter, observed a minute silence to mourn the victims of Monday’s attack by bandits.

Buhari, Sanwo-Olu Mourn Students Killed by Trailer in Lagos Deji Elumoye in Abuja and Segun James in Lagos President Muhammadu Buhari and the Lagos State Governor, Babajide Sanwo-Olu, havecommiserated with parents, relations and friends of the Ojodu Grammar School students,who lost their lives on Tuesday in an auto accident along Isheri Road, Ojodu, in Lagos State. The President, yesterday, in a release by his Media Adviser, Femi Adesina, also condoled with government and people of Lagos State and the authorities of the school over the sad and painful loss of the promising lives that were cut short in the tragic incident. Buhari, however, prayed that the Almighty God would comfort the grieving parents and relations at this difficult time, and grant the injured quick recovery. On his part, Sanwo-Olu, who expressed sorrow over the incident, also sympathised with families of the bereaved students, their relatives, friends, management and staff of the school. In a condolence message by his Chief Press Secretary, Mr. Gboyega Akosile, Sanwo-Olu described the death of the students as sad, unfortunate and avoidable. He said: "I commiserate with the parents, management, staff and students of Ojodu Grammar school over this unfortunate death of our students, whose lives were cut short by a truck driver yesterday. "The sad incident has left me devastated since yesterday, because it is terrible to hear about the death of innocent children, especially, in a clearly avoidable circumstance like what happened yesterday. "As a parent, words cannot express how shattered I was when I learnt about the incident. No one's life, including those vibrant students,

who were returning from where they had gone to learn for a better future, deserved to be ended in that manner. "My deepest sympathies go out to their parents. I pray that God will grant them the fortitude to bear the irreparable loss. Our prayers are also with the survivors, who are receiving treatment at the hospitals,” he prayed. Sanwo-Olu hinted that had immediately ordered that the affected schools be shut down till January, while investigations are ongoing. The erring driver has also been arrested." Meanwhile, the General Manager of Lagos State Traffic Management Authourity (LASTMA), Bolaji Oreagba, has disowned the allegation that officials of the agency were involved in the unfortunate truck accident, saying such insinuation was "unsubstantiated." According to Oreagba, "From the reports we received on the incidence, the driver is believed to have lost control of the vehicle, probably because of mechanical reasons. The police are investigating the matter; the public should await their report". He said LASTMA did not have a traffic management duty post around the accident scene, adding that all patrol personnel had reported back to base for daily parade as at the time the accident occurred, leaving only those at their traffic management posts. The general manager further said in the various unconfirmed reports, not only LASTMA as an agency was fingered but some other government traffic control agencies and wondered how all the agencies would be in pursuit of one truck, a truck that could be apprehended at a later date, if it had committed any traffic infraction.

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AT A.Y.E. CONVENTION & UNEMPLOYMENT SUMMIT...

A NEW SILK...

L-R: President, African Young Entrepreneurs (A.Y.E), Mr. Summy Smart Francis; President, Funke Felix-Adejumo Foundation, Mrs. Funke Felix-Adejumo; Governor of Ondo State, Mr. Oluwarotimi Akeredolu; Grand Matron, A.Y.E, L-R: Former Minister of Water Resources, Barr. Mukhtar Shagari; with newly sworn in Senior Mrs. Folorunso Alakija, and Deputy Governor, Ondo State, Lucky Aiyedatiwa, during the 8th annual A.Y.E convention Advocate of Nigeria (SAN), Barr. Ibrahim Agbomere Idris (SAN) and Former President Nigerian Bar Association (NBA), Barr. Augustine Alegeh, in Abuja after the ceremony... yesterday and unemployment summit held at Akure, Ondo State.... yesterday

Buhari, Obasanjo, Abubakar Urge Nigerians to Embrace Religious Tolerance John Shiklam in Kaduna President Muhammadu Buhari, former president Olusegun Obasanjo and ex-military Head of State, Gen. Abdulsalami Abubakar (rtd), have charged Nigerians to embrace religious tolerance. The three leaders spoke yesterday

at the foundation laying of the permanent site for the Kaduna Centre for the Study of ChristianMuslim Relations. The Centre was founded in 2004 by a former Anglican Bishop of Kaduna, the Most Rev. Josiah Idowu-Fearon, who is currently the Secretary General of the Anglican

Jonathan Urges Nigerian Engineers to Weed Out Quacks Emmanuel Addeh in Abuja Former President Goodluck Jonathan has urged the Nigerian Society of Engineers (NSE) to continue to protect the integrity of the profession by purging the group of quackery. Speaking in Abuja at the opening ceremony of the 2021 National Engineering Conference, Exhibition and Annual General Meeting, Jonathan stated that while he had no doubt that the group was capable of elevating the task of building the nation, impostors must be weeded out. Beyond getting a degree in engineering, Jonathan who was represented by his former Chief of Staff, Mike Oghiadomhe, urged practitioners of the profession to develop their passions and competencies. He lauded the NSE for honouring those who have contributed to the growth of engineering in the country, expressing the belief that it will encourage others who have interest in the profession to play their roles. The former president stated that the work of developing and standardising infrastructure which the leadership of the engineering society had been doing must be acknowledged. “I urge you to continue to guard jealously the integrity of

this profession to prevent cases of quackery,” he stated. Also speaking, an engineer, businessman and former presidential aspirant, Emmanuel Iwuanyanwu, urged the president of the society to look into the issue of collapse of buildings nationwide. He stated that the engineering code may need to be reworked to reflect the exigencies of the times, stating that if care is not taken, more high-rise buildings will continue to crumble. On the political side, he argued that if the minister of justice is a lawyer and the health minister is a medical doctor, then the minister of engineering-related ministries must be manned by practicing engineers. President of the NSE, Mr. Babagana Mohammed, said the selected theme for the 2021 conference “Expansion of the Energy Mix for National Economic Growth”, was hinged on the quest for clean energy that has taken the centre stage in the affairs of nations all over the world. “ Nigeria is still largely relying on hydro-carbon fuels as sources of energy, with the hazardous effects that they bring, the developed nations have moved on to the future, with clean, renewable energy.

Communion, Worldwide. President Buhari, who was represented by the Minister of State for Education, Chukwuemeka Uwanjiuba, said, religious crisis has over the years caused untold hardship and suspicion among various faiths. He described the centre as a foundation for peace and promised that the government wouldsupport it. "This centre is indeed a foundation for peace and completing the project will require courage, commitment and resilience. I call on all and sundry to support the centre and as a government, we will always support any project

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has called for synergy and collaboration among stakeholders in the nation's oil and gas sector. This, it stressed was critical to achieving the objectives of the Petroleum Industry Act (PIA). The Chief Executive Officer of NUPRC, Mr. Gbenga Komolafe, made the call yesterday in a statement issued in Abuja and signed by the commission's Head of Public Affairs, Mr. Paul Osu. Komolafe said the PIA, which was signed into law after almost two decades has created a clear fiscal and regulatory framework for the industry.

He said the objective of the Act was to attract investments to Nigeria's oil and gas sector and optimise the nation's hydrocarbon resources for national development. According to him, the PIA was aimed at increasing the nation's oil and gas reserves and reduction in operating costs in the country. Komolafe, who had held several engagements with stakeholders in the industry since assuming office, noted that the effective implementation of PIA was very important to the Muhammadu Buhari-led administration. "We must continue to collaborate, synergise, and build partnerships across all agencies of government and our stakeholders, for the purpose of innovation, data gathering,

and inclusive society in Nigeria.” In his remarks, Abubakar, who is the founder of the National Peace Committee, noted that Nigeria was bedevilled with religious conflicts, which has brought about sorrow and destruction. “On behalf of myself and the National Peace Committee, we congratulate Fearon for the mere thought of establishing this centre. Nigeria is bedevilled with religious conflicts for one reason or the other. “We believe the establishment of this centre will bring a common ground of understanding in the religious practices in Nigeria. Religious conflict has brought

about hardship, sorrow and destruction,” he said. Also, the Archbishop of Canterbury, Most Rev. Justin Welby, in his goodwill message presented virtually, commended the foresight of Fearon for establishing the centre to promote peaceful coexistence among the Christians and Muslims in Nigeria. "I commend Fearon for devoting himself to peaceful coexistence. Foundation laying today is more than just a stone but a foundation for peace. Educating young people from both Muslim and Christian Faiths will bring about justice, peace, reconciliation and above all, religious tolerance,” Welby said.

Olawepo-Hashim, Group Hail Abdulrazaq's Passion for Gender Equity Chuks Okocha in Abuja and Hammed Shittu in Ilorin A chieftain of the All Progressives Congress (APC) and former Presidential candidate, Gbenga Olawepo-Hashim, has described the signing into law of the gender equity bill by Governor Abdulrahman Abdulrazaq of Kwara State, as a landmark achievement geared towards enhancing the policy of inclusiveness. Also, a pro-democracy group in the state, Kwara Must Change, has lauded governor, and the Kwara State House of Assembly for the successful enactment of the gender composition bill in the state. Olawepo-Hashim, a long time political ally of the governor, said in a statement titled 'Kwara,a vote for gender equity', that what the governor was doing and with the Kwara State Assembly on the Gender Equality Bill, showed that the appointment of a majority women cabinet by the governor was not a fluke but a deliberate policy of inclusiveness. The statement read in part:

PIA: NUPRC Calls for Synergy among Stakeholders Peter Uzoho

that will bring about peaceful and religious coexistence,” the President said. Obansanjo and Abubakar in their good will messages, which was presented virtually, commended Fearon for establishing the centre and expressed hope that it would promote understanding and religious tolerance among Christians and Muslims. Obasanjo said, “Christians and Muslims worship the same God, there should be no antagonism or acrimony in our worship of this God.” While congratulating Fearon, he expressed hope that “the centre will contribute to good relationship

information sharing and to breach specialised human capacity gaps among others, as these are positive drivers to improve local human capacity for Nigeria," he said. He also said the commission has the responsibility of technical, operational and commercial regulation of upstream petroleum operations in Nigeria. He maintained that the goal of the commission was to function as a 21st century regulator by promoting an enabling environment for investment in upstream petroleum operations. Komolafe added that the Commission would however, ensure strict implementation of environmental policies, laws and regulations for upstream petroleum operations.

"Yesterday, Governor Abdulrahman Abdulrazaq of Kwara State signed the gender equity bill into law in an historic exercise that makes Kwara the first to do so. The bill makes it mandatory for both genders to be included in political appointments at all levels within a 35-65% ratio. "I am elated by the quality of work the governor is doing and with the Kwara State Assembly on this Gender Equality Bill. It shows that the appointment of a majority women cabinet by

Governor Abdulrazaq is not a fluke but a deliberate policy of inclusiveness." "I share Governor Abdulrazaq's passion for gender equity. I had worked with great women leaders in the past such as Hajiya Laila Dogonyaro, Amina Muhamed of Bank of the North, Esther Audu, Salome Jankada, Justina Eze, Mrs Apezan, Barrister Olivia Agbajoh,etc, during the sitting of the Women and Youth Subcommittee of the Presidential policy Advisory Committee in 1999.

"This was to ensure that 35% of the cabinet of the government after military disengagement, were women apart from some other major gender equality initiatives," he said, calling on other state governments to adopt the policy as exemplified by the Kwara governor. On its part, Kwara Must Change said the enactment of the bill was a win for all, especially,“we at Kwara Must Change, being the organisation that championed advocacy for women inclusion in the state.”

PDP Charges Obaseki to Address Bribe-for-Ticket Allegation Relates how party rejected bribe money from aspirants Chuks Okocha in Abuja Outgoing leadership of the Peoples Democratic Party (PDP), yesterday, charged the Edo State Governor, Godwin Obaseki, to immediately provide explanation to Nigerians particularly, party members on the processes that led to his nomination as the governorship candidate of the party and tell the truth about the allegation of bribery made against the NWC members. The party, however, narrated how the suspended national chairman, Uche Secondus,rejected and reported attempt by a governorship aspirant to bribe the NWC This is as the acting national chairman, Elder Yomi Akinwonmi said although Secondus-led NWC has done well, except that he did not lead the party to win the 2019 presidential election. But, in a veiled reaction to the allegations if some NWC members received bribe before giving Obaseki ticket, Rivers State Commissioner for Information, Mr Paulinus Nsirim, said, "They are tax collectors. Let them challenge me and I will come out with more facts. Nobody will rubbish me by raising false accusations against me. I will fight back".

Speaking at the valedictory session for the outgoing NWC, National Publicity Secretary, Kola Ologbondiyan, denied collecting any form of gratification or bribe before clearing and giving the party's ticket to Obaseki to contest the September, 2020 Edo State governorship election. "Let me state without mincing words that the Governor of Edo State, Godwin Obaseki, owesthe members of this NWC the responsibility of clearing our names before the public. I will like to place on record that this NWC did not demand for any form of gratification from Obaseki before he got the ticket of our party. "It is also important to restate that this NWC did not demand for any form of ‘tax’ from Governor Obaseki, neither did we collect same. He therefore owes it a duty to clear our names." Ologbondiyan, whose speech was interrupted many times by rounds of applause by his colleagues, insisted that the outgoing NWC had done its best to reposition and rebuild the party, resulting in regaining some more states. His words: "Before the 2019 elections, we had already added

three governors from Sokoto, Kwara, and Benue States. The Senate President and Speaker of the House of Representatives led a good number of their colleagues to team up with the party. The APC adopted a reckless maximum rigging to snatch Ekiti and Osun. "We rebuilt the party in content and character and this made it an attraction. We came out of the election with 17 governors, the APC stole Imo State while three governors later left the party to pursue personal endeavours, which was not as a result of NWC's fault. "The 2018 elective National convention, which produced our Presidential candidate was adjudged the best. It was keenly contested and not by consensus. At the end, none of the aspirants left the party. "The NWC carried out reforms that stopped the use of Ghana Must Go to win nominations or tickets, restructured the workforce and adopted a smart approach. For many years, the party was unable to conduct online registration of its members. Today, we have our members registering online and our party has become digitally prepared ahead of any other party in our country. "

THURSDAY DECEMBER 9, 2021 T H I S DAY

NEWS

Oromoni: Our Children are Traumatised, Dowen Parents Cry Out Concerned Nigerians protest, give govt seven days ultimatum to deregister college, suspects charged

Chiemelie Ezeobi An Association of Dowen College Parents, on Wednesday, charged Nigerians to show empathy for the other students, especially friends and classmates of 12-yearold Sylvester Oromoni, who was said to have died from injuries sustained at the hands of Àve senior students of the school. This is just as a group of concerned Nigerians, who staged a protest at the sealed gate of Dowen College, issued an ultimatum to the Lagos State government to de-register the school without further delay. The Dowen Parents, while commiserating with the bereaved family, said the children are barely functioning as they are very traumatised that their friend might have died from bullying. The statement read thus “The news of his demise is even more heartbreaking to us because not only was Sylvester a friend, classmate and roommate to some of our children who are deeply aͿected and traumatised by his death, there are also strong allegations pointing to the fact that his death came about as a result of bullying within the school. “We as parents want justice for Sylvester. We stand against

bullying and everything associated with it. “To this end, we have come together to form a forum with

one voice, engaging the school to grant the relevant authorities all necessary assistance in their investigations on the case.

“We are aware that the alleged perpetrators are currently being detained and questioned. The house masters, security and

other persons linked with the case are also in police custody. “We are hoping that the appropriate authorities will

carry out all due diligence and ensure that the persons involved, if found guilty, be brought to book.

A BOOK ON LAW OF EVIDENCE… L-R: Former Chairman of the Peoples Democratic Party (PDP) in Enugu State, Chief Vita Abba; Chairman, State Council of Traditional Rulers, Igwe Lawrence Agubuzu; Retired Judge of the Court of Appeal, Hon. Justice Chinwe Iyizoba; the Secretary to the State Government and Director General, South East Governors Forum, Prof. Simon Uchenna Ortuanya; Governor Ifeanyi Ugwuanyi of Enugu State; President, State Customary Court of Appeal, Hon. Justice George Nnamani; and the Acting Chief Judge of the State, Hon. Justice Raymond Ozoemena, during the public presentation of “Law of Evidence in Nigeria: Practice and Procedure”, a book authored by Ortuanya in Enugu…yesterday

Fake Soldier Arrested Tinubu, Mba, Shagaya Task Youths on Leadership in Edo Olawale Ajimotokan in Abuja

Adibe Emenyonu in Benin City

O΀cials of the Edo State Public Works Volunteers (PUWOV) yesterday arrested one Sunday James, who claimed to a military personnel. James, who was arrested at the Oba Ovonranwen Square in the heart of Benin metropolis was said to be in possession with a fake military Identity card with the inscription “Civil Intelligence Agency” (CIA). The PUWOV state commander, Mukhtar Yusuf-Osagie, who disclosed this to journalists in Benin City, said the suspect was arrested while using the military uniform a nd fake identify card to intimidate and oppress residents and trader in the area According to Yusuf-Osagie, the suspected fake soldier was

arrested following intelligence and complaints from residents in the area, adding that the suspect has been handed over to the Oba Market Police Division for further investigation and prosecution. He said: “O΀cials of PUWOV have apprehended one Sunday James for impersonating and parading himself as an o΀cer of the Nigerian Army at the Oba Ovonranmen Square in Benin City. The suspect was arrested wearing military uniforms, with a fake identity card. “His arrest followed a tipoͿ that the suspect has been presenting himself as a serving soldier in the area for a while, and has been intimidating and harassing residents, traders and other persons within the Oba Ovonranmen Square and environs.

Ex-Air Chief, Dikko Tells Court How He Acquired N4.7bn Properties

Kingsley Nwezeh in Abuja

The trial of former Chief of Air StaͿ, Air Marshal Mohammed Dikko Umar, resumed yesterday before Justice Nnamdi Dimgba of the Federal High Court sitting in Abuja, with the continuation of the cross examination of the defendant by the prosecuting counsel, Sylvanus Tahir. A statement by EFCC said the defendant, Dikko, told the court that he bought properties worth N4.7 billion through estacodes earned through training and Áying most of the African Presidents. “For thirty six years of my service my lord, I served in the Presidential Fleet for 17 years. Most of the Áights I took were external trips outside Nigeria, and I went for many training

trips outside the country,” he said. Dikko further disclosed that he Áew all African Presidents during his years in service, except the Presidents of Cote D’Ivoire and Togo. “I have earned a lot of estacodes, lots of foreign trips and two farms in Abuja with about 17 hectares of land and the other two in Kaduna are four hectares and 200 hectares respectively. I have been a farmer throughout my life”, he said. Asked why he did not provide the court with documents to back up his claims about the estacodes, he said nobody asked him to do so. He, however, added that he mentioned it in his extrajudicial statement to the EFCC.

The Chairman Loatsad and cofounder Noelle Foundation, Mr. Seyi Tinubu, the spokesman of Nigeria Police, Frank Mba and businessman, Hakeem Shagaya have urged Nigerian youths to step forward and play active role in leadership/politics. They made the appeal yesterday at the 3rd edition of the annual Maktoub Youth Forum held in Abuja.

Tinubu, who donated 970,000 meals to 30,000 homes during the COVID-19 lockdown, said the pandemic had provided opportunity for youths to be creative. He said the lockdown resulted in the emergence of several youth-led digital platforms to create value in addition to several innovative ventures. He also noted that the pandemic had taught youths that “they are better together” and should always support benefits

that would last forever. On his part, Police Commissioner, Mba, who spoke on “Trust Question- Police Citizen Relationship”, urged youths and the public to trust the police as modern policing derives its legitimacy from the public. Also, Shagaya urged young people to form alliance and be politically active at the local level. “We must learn to collaborate because it is through that we can have bigger voices and motive of what we want to achieve.

Unionisation is one of the ways to effect changes and solution,” Shagaya said. The convener of the event, Ms Maryam Mohammed Maktoub, who spoke on managing social media pressure, urged young people to avoid social media tension “because 80 per cent of people on social media leave fake life.” The public relations and event strategist also tasked youths to be involved in politics and pick a leader among themselves.

Senate, Ortom Mourn 23 Travellers Killed by Bandits in Sokoto Deji Elumoye in Abuja and George Okoh in Makurdi

The Senate yesterday mourned 23 travellers killed by suspected bandits in Sokoto state while on their way from Gayan in Kaduna state. The travellers, according to reports, were attacked in Angwan Bawa, Sabin Gari Local Government Area of Sokoto State. The victims were said to be on their way to the southern

part of the country when they were intercepted and killed by the bandits. Coming under order 43 of the Senate rules, Senator Ibrahim Gobir (Sokoto East), drew the attention of his colleagues to the gruesome murder of the travelers and lamented the spate of killings, which, he warned were alarming and on the increase. He, therefore, called on the military and security agencies to immediately intervene by

deploying personnel to secure the lives of residents in states aͿected by the activities of bandits. The Senate, thereafter, observed a minute silence to mourn the victims of Monday’s attack by bandits. Meanwhile, Benue State Governor, Samuel Ortom has expressed deep pains with the Governor of Sokoto State, Aminu Waziri Tambuwal, the government and people of

the state over killing of the 23 persons. The bus they were travelling in was stopped around Gidan Bawa village, where the bandits blocked the road and set the vehicle ablaze. The governor said Nigeria has been turned into a killing Àeld by these so called bandits terrorising the country where innocent civilians looking for their daily needs are forced to live in perpetual fear.

Kogi Inaugurates Tourism Advisory Council Governor Yayaha Bello has appointed and inaugurated a nine-man committee to fastrack the historic and natural tourism potential of Kogi State. The state boasts of several historic tourist sites and should naturally be the nation’s tourism hub and improving the Internally Generated

Revenue (IGR) of the state. Amongst the sites are:Lord Lugard Rest House on Mount Patti (1900-1914AD; European Cemetery (1896AD);Location of British Flag Hoisting (1900AD) and The Confluence point of Rivers Niger and Benue. The state disclosed in a

statement that council is chaired by Otunba Olusegun Runsewe while the members are: the internationally renowned Nike Okundaye of Nike Art Gallery , CEO of La Campagne Tropicana Resort, Wale Akinboboye; Dr. Ronke Bello, Mr Joseph Makoju and Kehinde Quadri Adu.

The Kogi State Commissioner for Culture and Tourism, Salifu Idachaba, is the alternate chair while Femi Bolaji serves as the secretary. The inauguration was done by Kogi State Deputy Governor H.E Edward Onoja on behalf of the governor.

Banditry: Over 11,500 People Fled into Niger Republic in November, Says UNHCR Michael Olugbode in Abuja

United Nations High Commissioner for Refugees (UNHCR) has lamented that repeated attacks in Nigeria has forced over 11,500 people to flee into Niger in November. The UN Refugee Agency, said armed groups, locally called “bandits,” have repeatedly attacked

villages in Sokoto State in Nigeria’s North-west in recent weeks, insisting that the violence comes against the backdrop of intercommunal clashes between farmers and herders as competition increases for dwindling resources, aggravated by the climate crisis. UNHCR spokesperson Boris Cheshirkov said: “We are deeply

concerned by the surging violence in North-west Nigeria and call for concerted and massive support to address the growing humanitarian needs of the affected population, ranging from protection services to food, shelter kits, kitchen utensils, blankets and other non-food items. He lamented that most of the November arrivals have taken shelter

with local communities in 26 villages across Bangui, a rural community in Niger’s Tahoua region which was already hosting 3,500 Nigerian refugees since September, adding that women and children make up the majority of the recent arrivals and describe killings, kidnappings for ransom, and the looting of their villages as the reason they fled.

THURSDAY DECEMBER 9, 2021 T H I S DAY

NEWSEXTRA

House Demands Automation of Passport Processes, National ID Card

Adedayo Akinwale in Abuja

The House of Representatives has called on the Federal Ministry of Interior through the Nigeria Immigration Service, the National Identity Management Commission and other relevant agencies to fully automate the processes of Passport and National Identity Card issuance. It further demanded that concerned agencies should reduce the incidences of physical attendance; as well as the waiting period for fresh passport issuance and for renewals to a maximum of ten working days or less. The resolutions of the House followed the adoption of a motion on the need to streamline the services being rendered to Nigerians by Nigerian Embassies and High Commissions Abroad moved by Hon. Obinna Chidoka. Moving the motion, Chidoka said Nigerian Embassies and High Commissions are the nation’s Áagship territories abroad and as such should project the best image of Nigeria’s pride and the best example of the values placed on citizens. He noted that the Embassies and High Commissions are safe havens for Nigerians in diaspora, whether living abroad

or traveling abroad; The lawmaker, however, decried the deplorable level of services rendered by Nigerian Embassies and High Commissions around the world to Nigerians, particularly those

in South Africa, the United Kingdom and the USA in the area of Passports, National Identity Card issuance, renewals and ancillary services;l. Chidoka lamented that the treatment meted out on Nigerian

citizens abroad by o΀cials of the Nigerian Embassies and High Commissions have not only aͿected the lives and businesses of the concerned citizens, it has brought shame and disgrace on Nigeria’s image

and the psyche of our citizens; He pointed out that there have been reported incidences of extortion and fraudulent intimidation by Embassy and High Commission o΀cials in the past;

The lawmaker said, “Unless an urgent measure is taken to put a permanent halt to this trend, the nation’s Embassies and High Commissions will become a terror to the people they were established to serve.”

CELEBRATING THE RETIREES… L-R: Director, Administration/Human Resources, Education District lV, Mr. Ayodeji Dosunmu; Director, Co-Curricular, Science and Technology, Education District lV, Mrs. Olubajo Ayodeji; Chairman, All Nigeria Confederation of Principals of Secondary Schools(ANCOPSS), Lagos Mainland Zone, Dr. Adenekan Olushola; DQG )RXQGHU &KLHI ([HFXWLYH 2I¿FHU OEHML )RXQGDWLRQ $OKDML 5D¿X $GLVD (ELWL DW WKH HQG RI WKH \HDU SDUW\ IRU UHWLUHHV LQ /DJRV \HVWHUGD\ ETOP UKUTT

BORBDA Canvasses Jailbreaks Don’t Warrant Clamour for My Equitable Access to Water Resignation, Says Aregbesola Resources Devt, Mgt Deji Elumoye in Abuja

Adibe Emenyonu in Benin City

The Managing Director, Benin-Owena River Basin Development Authority (BORBDA), Saliu Osifuemhe Ahmed has canvased for equitable access to water by all Nigerians. He, however, noted that for this to be realisable, the regulation and management of water resources through adequate regulation should be put in place. Ahmed stated this in his address at the 10th National Water Conference, held in Benin City, Edo State with the them: “Sustainable Water Resources Development and Management.” The BORBDA boss stressed

the need for Nigeria to regulate its water resources development and management in order to put in place strategic plans that would be followed by all stakeholders to improve its need for the nation. He disclosed that the essence of the two-day conference was to bring together all stakeholders in the water sector to share, identify common challenges and proͿer strategic solutions to ameliorate those hiccups surrounding water and its management for the betterment of all. “I am particularly excited to be part of this conference; given that it will be a forum to address some major challenges as they relate to water and its usage in our catchment areas and the nation at large,” Ahmed stated.

Rivers Donates N150m Annually to Nigerian Legionnaires

Blessing Ibunge in Port Harcourt

Rivers State Governor, Mr. Nyesom Wike, said the state government within the last six year of his tenure has donated not less than N150 million to the Nigerian legionnaires annually. This as the governor has stated the need for the federal government not to abandon its responsibility of catering to the welfare of men and o΀cers of the security agencies to the States. He said if the resources donated to the legionnaires was well- managed, it would have provided them a secretariat without going hand-in-cap to government. Governor Wike spoke, yesterday at the 2022 Armed

Forces Remembrance Day (AFRD) Emblem Appeal Fund Launching ceremony, held in Government House Port Harcourt. Wike, who was reacting to the request for the provision of secretariat for the Nigerian legion, wondered what the leadership of the legion does with the monetary supports that they receive each year. According to him, it remains puzzling that the legionnaires in the State are unable to provide some basic operational facility like a secretariat for themselves. “If you check for the six years, I have launched this emblem with not less than N20 million in every year. And check each January 15th, I have given you not less than N150million.

Interior Minister, Ogbeni Rauf Aregbesola has reacted to those canvassing for his resignation over recent spate of jail breaks in the country, saying such calls were unnecessary and cannot be enough reason for him to resign his position as minister. This is just as the Federal Executive Council (FEC) at

its weekly meeting yesterday approved necessary funding for the procurement of 49 Green Marias and also okayed the 2021 Finance Bill already before the National Assembly for approval. Aregbesola, who spoke while addressing newsmen after the week’s virtual Federal Executive Council (FEC) meeting, presided over by President Muhammadu Buhari in Abuja, noted that

the series of jailbreaks did not happen as a result of lack of preparedness, but situations that were occasioned by series of factors. He was quick to add that the federal government is doing all that is necessary to make the correctional facilities impregnable.bThe minister noted that a number of prison o΀cials died defending the custodial

centers, which he said is the highest form of honor for the country. His words: “Imo was in April this year. Kabba was in September. Abologo was in October and Jos was in November. Those captured the attacks. As painful as those attacks were, very painful, nobody will really want the end of justice to be so vulnerable.

Fight against Sexual Abuses, Molestations will Outlive My Govt, Says Fayemi Victor Ogunje in Ado Ekiti Ekiti State Governor, Dr Kayode Fayemi , has charged the State Gender Based Violence (GBV) Management Committee to set up mechanisms that would ensure the sustenance of the

gains achieved in the Àght against sexual abuse and all forms of molestations against genders outlive his government . Fayemi gave the charge yesterday in Ado-Ekiti when the State Gender Based Violence Management Committee, led

by its chairperson, Erelu Bisi Fayemi, presented the 2021 report of the Committee to him as part of activities marking the global 16 days of activism against GBV. According to the Governor, the step become expedient

to avoid what happened between 2014 and 2018 when a considerable number of programmes and policies including the ones involving Àght against GBV were set aside by the administration that was in power then.

Insecurity: FCT Minister Mandates Developers to Deploy CCTV Cameras in FCT Estates

Olawale Ajimotokanc in Abuja

The Federal Capital Territory (FCT) Minister, Mallam Muhammad Bello has ordered all owners and operators of mass housing developers to deploy CCTV cameras and solar lights in all

estates, to mitigate the menace of kidnapping and other criminalities. He gave the directive when he commissioned one of the newly completed estates in Wuye District of Abuja yesterday. He vehemently warned estate owners to stop encroachment on Green Areas, as well as engaging

scavengers as waste collectors. The minister also called on the developers to install functional Cameras that would record reliable information for security purposes. “Our focus would be ensuring that estates are managed properly to the benefit of the residents.

Accordingly, greater emphasis would be placed on security and environmental matters. It would be made mandatory for every estate in the FCT to deploy CCTV cameras with recording facilities and solar lights on perimeter fences and along the streets in the estates,” Bello said.

Delta Students to Get N434m as 2020/2021 Bursary Awards Omon-Julius Onabu in Asaba

Students of Delta State origin are to receive the Students’ Special Assistance Scheme, otherwise known as bursary award, totaling N434 million as payment of the 2020/2021 academic session. Approval for release of the bursary payment was given by the state government at the State Executive Council (EXCO) meeting

yesterday at the Government House Asaba presided over by Governor Ifeanyi Okowa. The State Commissioner for Information, Mr. Charles Aniagwu, who disclosed to newsmen after the meeting, said that the continuous payment of the bursary to students of Delta extraction, despite, the economic hardship in the country was a further testifies to Governor Okowa’s commitment to the human capital development

of the state. The information commissioner, who said that EXCO also approved the commencement 2021/2022 cycle for Job Creation Bureau with 650 Deltans expected to benefit from the 7th Cycle, said that the body has approved the establishment of a technical college in Kiagbodo, in Burutu Local Government Area. Aniagwu said, “We also approved the construction of

administrative building for the College of Health Sciences, Oghara and the remodeling of the Library of the Clinical Science Building. “Other approvals are for the rehabilitation of Orogun Road in Ughelli North Local Government Area of the state and the connection of additional government offices to the Independent Power Plant (IPP) to enable the state maximise the benefit of the power plant.

THURSDAY DECEMBER 9, 2021 T H I S DAY

NEWSEXTRA

ECOWAS: Growing Activities of Terrorists, Threat to West Africa Integration

Michael Olugbode in Abuja

The Economic Community of West African States (ECOWAS) has raised the alarm that the growing activities of terrorists in the sub-region is a threat to West Africa integration and stability. Speaking at the opening of the 47th ordinary session of the Mediation and Security Council of ECOWAS meeting in Abuja yesterday, the Minister of foreign affairs of Ghana and Chairperson of the Council, Shirley Ayokor Botchwey, said the current increasing activities of terrorists in the sub-region should be of concern to everyone. The meeting is one of the various meetings that proceeds the meeting of the Authority of Heads of State and Government of ECOWAS. Botchwey said: “Speaking on the backdrop of continual threat to our region, which could undermine integration agenda and regional stability. Attacks by terrorist and violent extremist groups are increasing across the region, leaving no member state spared as a potential targets. “In addition to this already difficult situation, is the military takeover in Guinea, after the one in Mali, weakening our community.”

She told the gathering: “ Distinguished ladies and gentlemen of the council, the deteriorating security environment

in the region is of grave concern from the Sahel region through the Lake Chad basin and beyond. “Attacks from terrorists and

violent extremists have moved with banditry kidnapping, farmer/herder dynamics and transnational organised crime

leaving a trail of death and destruction. “Indeed, the terrorist groups are currently testing border defenses

of coastal nations, intending to extend their reach to the member states along the Gulf of Guinea.”

DISCUSSING AFCFTA’S BENEFITS… L-R: Former Director-General, Abuja Chamber of Commerce and Industry (ACCI), Dr. Chijioke Ekechukwu; Chairman, Tax Appeal Tribunal, Lagos Panel 3, Prof. Abdulmumuni Bala Ahmed; immediate past President, The Chartered Institute of Taxation of Nigeria (CITN) Dame Olajumoke Simplice; and ExecutiveDirector, Civil Society Legislative Advocacy Centre (CISLAC) /Transparency International –Nigeria, Auwal Musa Rafsanjani, at the stakeholders’ Sensitisation DQG &RQVXOWDWLRQ )RUXP RQ WKH %HQH¿WV RI WKH $IULFDQ &RQWLQHQWDO )UHH 7UDGH $UHD $JUHHPHQW $I&)7$ RUJDQL]HG E\ &,6/$& DQG 2;)$0 1LJHULD LQ conjuction with CITN held in Ikeja, Lagos… recently ETOP UKUTT

Revolution Now Protest: Court Lagos Seeks to Transform Apapa into Orders DSS to Release Sowore’s Modern Port City Mobile Phones, N10,000 Oluwabunmi Fache

Alex Enumah in Abuja

Justice Anwuli Chikere of the Federal High Court in Abuja yesterday slammed the sum of N2 million against the Department of State Service (DSS) for illegally seizing an iPhone and cash from publisher of Sahara Reporters, Omoyele Sowore, in 2019. The court found the DSS guilty of violating the rights of Sowore, when it forcefully took the said item and cash during Sowore’s arrest in 2019 for spearheading the #RevolutionNow protest, against harsh economic situation under the President Muhammadu Buhari administration. Justice Chikere, who made the order in a fundamental rights suit Àled by Sowore, subsequently ordered the DSS

to release forthwith the iPhones and N10, 000 to the owner. Sowore had gone to court to challenge his arrest on August 3, 2019, at a hotel in Lagos as well as the seizure of his property by the operatives of the service. The suit, which was Àled on his behalf by Mr. Femi Falana (SAN), has the DSS as Àrst defendant. Delivering judgment, Justice Chikere ordered the DSS to pay the sum of N2million as aggravated damages to the activist and also tender an apology in two national dailies within two months. She described the forceful seizures of the personal property of the SR publisher as illegal, unconstitutional, null and void, and gross violation of his fundamental rights as enshrined in the 1999 Constitution.

Noise Pollution: Abuja Environment Agency Reads Riot Act to Parks, Gardens, Others

James Emejo in Abuja

The Abuja Environmental Protection Board (AEPB) yesterday expressed concern over the incessant noise pollution from event centres, parks, gardens and other facilities across the Federal Capital City. Addressing journalists in Abuja, he said the board of the agency had been receiving series of complaints by some residents on issue of noise pollution in their areas which had aͿected their health condition. He said that the nuisance of noise pollution contravened

both the national regulations on acceptable noise levels and provisions of AEPB Act no 10 of 1997 which forbids making noise in any way that it will disturb the neighborhood. According to him, he warned that going forward, any event centre, park, garden and other person or bodies found culpable shall be guilty of noise pollution as stipulated under the law. The AEPB director explained that the board had already been sensitising the owners of such facilities as well as stakeholders on noise regulations to avoid been sanctioned.

The Deputy Governor of Lagos State, Femi Hamzat has said strategic plans are being put in place that will guide the operations and transformation of Apapa in the next three years. Speaking at the stakeholders’ meeting held at Apapa, Hamzat, who was represented by

Director, Local Government Administration, Mr. Amodu Razack, said the goal of the meeting was to discuss strategies that would help to reposition Apapa to become a 21st Century Modern Port City. In her speech, Chairman, Apapa Local Government Area, Mrs. Idowu Adejumoke Senbanjo, said Apapa has suͿered gross reputation loss

due to many challenges, chieÁy the incessant tra΀c menace and its perpetual poor environmental measures. According to her, this has led to exodus of people and massive vacation of both homes and businesses in Apapa. She added that the local government is grossly lacking in critical areas of modern development with dwindling opportunities for innovation

between the port and the community. “The council needs the input of stakeholders in the community and every ward will be encouraged to highlight the major challenges facing them and to proͿer the necessary solutions to ameliorate these problems, which is why our theme for today’s event has been tagged: ‘Building Together.’

House Urges FG to Rescue Kidnaped Victims in Lagos, Other States Udora Orizu in Abuja

The House of Representatives has urged the federal government to deploy special forces in the Nigeria Police Force, Nigerian Army and Nigerian Navy on a rescue mission to free kidnap victims in Lagos and other parts of the country. The House also urged the

federal government to carry out training of Special Forces across the security agencies, who will be mandated to patrol waterways, creeks and highways across the country. The lawmakers resolutions were sequel to adoption of a motion titled: ‘Urgent Need to Curb Incessant Kidnappings in

Lagos and Other States across the Country’, sponsored by Hon. Mufutau Adewale Egberongbe. Moving the motion, Egberongbe noted that almost on a daily basis, Nigerians are faced with news of abduction of persons in different parts of the country. Making reference to reports in a national daily that there is

a resurgence of kidnapping in Lagos State, as many people were kidnapped within a few weeks, with the kidnappers demanding huge ransoms for their release, he expressed concerns that the kidnappers always escape with their victims through the waters and hide in the creeks as they wait for ransom.

PHED Seeks Consolidated Legislation to Tackle Electricity Thieves

Blessing Ibunge in Port Harcourt

The Managing Director of the Port Harcourt Electricity Distribution company (PHED), Dr. Henry Ajagbawa, has called for a consolidated legislation to tackle electricity theft and vandalism. The essence, according to

Ajagbawa, is for suspects to face trial under speedy dispensation of justice, hence, reducing the cases of oͿence and deterring others from committing such act. Ajagbawa stated this yesterday during a media parley at the PHED headquarters in Port Harcourt, Rivers State. He said his administration would leave nothing unturned

to arrest and prosecute anyone found culprit in deliberate diversion of electricity with the intention of avoiding payment of bill or vandalising property of the company. According to him, “Electricity is one critical component of our lives we cannot do without. But customers are not largely cooperating in terms of bill

payment. “We have actively commenced a process to prosecute those caught in energy theft. The only way to be done with this problem is to have a legislation that is very clear, and administer in such case. We need a focus energy consolidation legislation that deals with energy theft.”

UN Report: Female Genital Mutilation Practice Still Prevalent in Oyo, Osun, Ekiti Kemi Olaitan in Ibadan A survey funded by the United Nations Trust Fund to End Violence against Women (UN Trust Fund), on the practice of Female Genital Mutilation (FGM) in Oyo, Osun and Ekiti States has shown that in spite of the gains that have been made in the reduction of the practice, its

prevalence in the three states is still significant. The report of the survey, which was carried out under ‘The StopCut Project’ of the HACEY Health Initiative, a development organisation focused on improving the health and productivity of vulnerable and underserved populations in Africa, noted that the result has indicated the need

for intensified efforts towards the abandonment of the practice. The StopCut Project Lead, Miss Oluwatomi Olunuga, presented the report to journalists yesterday at Ibadan Business School, which also featured launch of various publications and a video documentary on FGM. The event brought together high-level representatives from

United Nations agencies, the European Union, government ministries, non-governmental organisations, media houses, and other key stakeholders to engage participants towards amplifying the ‘End FGM messages’, advocacy, and campaign activities carried out by stakeholders as well as increase awareness on the prevalence of FGM.

THURSDAY, ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

THURSDAYSPORTS

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

0811 181 3083 SMS ONLY

Barcelona Knocked out in Group Stage First Time in 20 Years CHAMPIONS LEAGUE

Duro Ikhazuagbe with agency report For the first time since 2000/2001, FC Barcelona have failed to reach the knock out stage of the UEFA Champions League following the Catalans 3-0 defeat at Bayern Munich last night. Barcelona finished third on seven points behind Group E winners Bayern Munich (18 points) and runners up Benfica on eight points. The five-time European champions had reached the Champions League last 16 in every one of the past 17 seasons. Barcelona needed to match Benfica's result to advance in this season's tournament, but the Portuguese side won 2-0 at home to Dynamo Kyiv. Now, they will be watching from outside in 2022 when the knock out phase begins. The last time that happened was way back in the 2003/04 season, when Barca had only finished sixth in La Liga and competed instead in the UEFA Cup. It is their first time to compete in the rebranded Europa League. Before the game at the Allianz Arena, pundits had predicted the mission as an impossible one for the Catalans. Barcelona have been unable to overcome their woes on and off the pitch. Bayern scored their first when Robert Lewandowski's cross found Thomas Muller and his header just crossed the line. The hosts doubled their lead thanks to a superb 30-yard strike from former Manchester City forward Leroy Sane. While Jamal Musiala added a third goal in the second half with a routine finish after a pullback from Alphonso Davies on an embarrassing evening for Barcelona. They have continued a miserable campaign after financial issues forced them to let club legend Lionel Messi leave on a free transfer and then join Paris St-Germain in the summer. Since Messi's departure, Ronald Koeman was sacked as manager in October before former midfielder Xavi returned to the Nou Camp, with Barca currently seventh in La Liga.

Bayern Munich defeated Barcelona 3-0 last night to send the fallen Catalans to an all time low of going to compete in the second tier Europa League

Osimhen Back to Training after Scary Face Injury Femi Solaja Super Eagles forward, Victor Osimhen, returned to training yesterday despite doctors’ reports that the Nigerian may be away from the game for upward of 90 days. Napoli confirmed Osimhen’s return on their Twitter handle on Wednesday. The Nigerian international suffered a fractured eye socket and cheekbone after a head

collision with Inter’s Milan Skriniar in a Serie A clash which ended 3-2 in favour of the Italian champions. Following the surgery carried out on Osimhen, medics in Italy told Napoli that their prized striker will be out of action for three months. However, Napoli published a short video of Osimhen doing light jogging at the club’s Castel Volturno training ground.

In the video, Osimhen ran the field alone while his teammates were preparing for

the decisive Europa match against Leicester tonight. According to Napoli

Iheanacho, Lookman, Five Others Dropped for COVID-19, Illnesses Two Nigerian players, Kelechi Iheanacho and Ademola Lookman are among seven Leicester City players left out of the trip to Italy for tonight’s Europa League game against Napoli because of Covid-19 or illness, Manager Brendan Rodgers revealed yesterday. The other five are: Ayoze Perez, Daniel Amartey, Jannik Vestergaard, Filip Benkovic and Vontae Daley-Campbell. Leicester are top of Group C in the second-tier European competition with eight points from five matches.

EUROPA LEAGUE The Premier League club will be through to the last 16 if they win Thursday’s game. “We’ve had some positive (Covid-19) cases, some are generally not well, so we haven’t taken the risk,” Rodgers told reporters on Wednesday. “We will have seven (players) unavailable. (Who they are is) something you’ll see in time… It’s been (over the) last few days really.

“In general, you’re starting to see a few more cases and, for us, it’s always about the health of our players. “We still have a strong squad here, but unfortunately it’s not a fully fit squad.” Midfielder Youri Tielemans and defender Ryan Bertrand are available for selection after recovering from injuries. Tottenham Hotspur Manager Antonio Conte also admitted that eight of his players had tested positive for Covid ahead of their Europa Conference League game.

Victor Osimhen...back to training after a scary face injury

Manager, Luciano Spalletti: "Day after day, we will urge him and see what answers he will give. Based on how he reacts, we will see the recovery times. Knowing the element, we are very confident for a recovery as soon as possible. The situation will be protected, but from the point of view of the player's availability to shorten a bit everything possible will be done,” he said at the press conference ahead of the break-or-bend match against Leicester tonight. Napoli accompanied the video with the caption”Victor is back in training #ForzaNapoliSempre.” It remains to be seen if Osimhen will recover in time for Nigeria’s participation in the AFCON tournament in Cameroon after he had been initially ruled out. Osimhen has scored crucial five Serie A goals and four more in the Europa League for Napoli this season. He netted four times in six games to help Nigeria reach Africa’s World Cup play-offs scheduled for next March. The former Lille player also finished as joint-top scorer in qualifying for the delayed Nations Cup with five goals.

THURSDAY, ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

Dramatic Zenit Equaliser Deny Chelsea Top Spot of Group H A dramatic equaliser from Zenit St Petersburg four minutes into added time meant holders Chelsea failed to top their Champions League Group H. Substitute Magomed Ozdoev

CHAMPIONS LEAGUE scored a stunning half-volley from the edge of the box after Chelsea had come from behind

to lead 3-2 with minutes left. Timo Werner scored in both halves and also set up Romelu

Lukaku after Zenit had come from 1-0 down to lead 2-1. But Ozdoev's strike meant Chelsea finish behind Juventus, who beat Malmo 1-0. It was former Everton striker Moise

Kean that headed the winner for Juventus from a great cross from the right wing by Federico Bernardeschi, using the outside of his left boot. Thomas Tuchel's side - whose only defeat of the group stages came in Turin when they lost 1-0 to Juventus- made the perfect start, Werner reacting to poke in the opener within three minutes. Two goals in quick succession from Claudinho and Sardar Azmoun saw Zenit go in front at the break, before Werner's one-two with Ross Barkley helped tee up Lukaku for Chelsea's second. Werner, who was a threat for Chelsea throughout, showed composure to make it 3-2 when substitute Christian Pulisic played him in with five minutes remaining. Malmo who offered little as an attacking threat against Juventus finished bottom of the group.

RESULTS Juventus 1-0 Malmo Zenit 3-3 Chelsea

TODAY Lyon v Rangers Spa’ Prague v Brondby Sociedad v PSV Storm Graz v Monaco Legia v Spartak Moscow Napoli v Leicester Fenerbahce v E’Frankfurt R’ Antwerp v Olympiacos Lazio v Galatasaray Marseille v Lokomotiv Ludogorets v Midtjylland SC Braga v C’ Zvezda Celtic v Betis Ferencvaros v Leverkusen Genk v R’ Wien West Ham v Di’ Zagreb

Europa Conference Tottenham v Rennes U’Berlin v Slav’ Prague CSKA Sofia v Roma

Pele Back in Hospital for Colon Tumour

Zenit St. Petersburg players celebrating pulling a 3-3 draw with Chelsea...last night

Leicester Head to Napoli Seeking Europa League Spot Leicester coach Brendan Rodgers insisted yesterday that his side's errors have cost them dearly before they head to Napoli tonight needing just a draw to secure a Europa League last 16 place. Rodgers' side have won just twice since the end of October. The Foxes lost 2-1 at Aston Villa on Sunday after conceding from a second-half corner as they failed to win for the sixth time in eight games since winning at Brentford on October 24. "Defending set-pieces, it's really starting to hurt us. It starts to sap our confidence when you concede the goals we've been conceding. That's a big concern," Rodgers told the BBC Sports. "The story for us is we can play well but we have to cut out mistakes. Even if we've won games recently we've made some mistakes. It's a worry for us. But we'll find a solution," he added. Napoli, who lost top spot in Serie A at the weekend for the first time since late September, need to match Spartak Moscow's result at Legia Warsaw due to their superior goal difference, to claim a knock-out spot. Luciano Spalletti's team were also beaten at the weekend, losing 3-2 to Atalanta, as AC Milan moved into the top spot. Spalletti could be without up to eight players through injury for the match against Leicester at the Diego Armando Maradona Stadium. One positive for the home side is the expected return of Greece international centre-back Kostas

Manolas who returned to training on Tuesday. Elsewhere in the second-tier continental competition, Red Star Belgrade, Braga and Mitdjylland can all finish top of Group F. In Group A, Rangers head to Lyon with both sides already through but the Scottish side furious at what they consider misleading advice about their travelling supporters. Rangers said on their website they were in an "almost impossible situation" In the Europa Conference League, Tottenham welcome Group G leaders Rennes needing a win to confirm their place in the last 16. The French side, as well as AZ Alkmaar, Copenhagen, Feyenoord, Gent and LASK have already secured their spots.

admitted to hospital for the second time in six months, and he was admitted again for a urinary infection in 2019. Pele is Brazil's all-time leading scorer with 77 goals in 92 games and one of only four players to have scored in four World Cup tournaments.

Pele has returned to the hospital for a colon tumour surgery

Nigeria Info, Others Get Rights to Broadcast French Ligue 1 Pele has returned to the hospital for a colon tumour surgery

Lagos Holds Maiden Traditional Sports Inter-club Championship The Lagos State Traditional Sports Association under the auspices of the Lagos State Sports Commission (LSSC), has put in place a five-day event to continue to engender the indigenous games amongst the youth in the state. The sporting activities which also feature workshop for coaches and other technical personnel, started on December 6 and will end December 10, at the Mobolaji Johnson Sports Centre, Rowe Park, Yaba, Lagos. Speaking at the press conference to unveiling the championship,

Brazil legend Pele is in hospital for treatment for a colon tumour. The three-time World Cup winner had surgery to remove a colon tumor in September with the hospital saying at the time that he would also need to have chemotherapy. Sao Paulo's Hospital Albert Einstein said the 81-year-old was in a stable condition and would be discharged in the next few days. The hospital also said Pele was now "continuing" his treatment. Pele said on Twitter last month that he was "fine" and "feeling better every day" following his release from hospital in September. He had been having treatment at the hospital since 31 August after the tumour was detected in routine tests. His health has been a concern in recent years. He had prostate surgery in 2015 after he was

tagged "ASA SPORTS WEEK" the Chairman, Lagos State Traditional Sports Association, Mrs. Abiola Lawal said that sports is a unifying agent that brings everyone together regardless of ethnicity, faith, gender, race and promoting a healthy and positive rivalry. She said "The Lagos State Government through the Lagos State Sports Commission takes seriously sporting events, hence forming an integral part of Governor Babajide Sanwo-Olu's administration "THEMES" agenda for a greater Lagos.

"This programme is scheduled to showcase all the five sporting events, namely; Ayo Olopon, Kokowa (Traditional Wrestling), Dambe (Traditional Boxing), Langa (Traditional Hopping) and Abula (Traditional Volleyball). Lawal further stated that organizing the auspicious event is also to showcase the activities to Lagosians that Traditional Sports is still in vogue and it can serve as a profitable career that adds value to Nigerian sporting events home and abroad, if given adequate support.

Nigeria’s leading media organisations, Nigeria Info and Wazobia Max, under the umbrella body of AIM Group, recently secured the broadcast rights to air the French Ligue 1 games through its partnership with the official licensed owners in Nigeria, Media Business Solutions (MBS). This partnership seeks to provide Nigerians with an unbeatable sport-broadcasting experience starting from the 2021/2022 sporting season. The competition, which features international football stars like Lionel Messi, Kylian Mbappe, Neymar, Sergio Ramos, and Terem Moffi, would be broadcast freely on Wazobia FM and Arewa Radio both in Pidgin English and selected local languages, including Hausa, Igbo and Yoruba, so as to capture the diverse sporting interests of Nigerians. Speaking on the development, Serge Noujaim, the Chief Executive Officer of Wazobia FM, Nigeria

Info, and Arewa Radio, noted that the partnership will provide Nigerians across the country with a bespoke sporting experience via quality live broadcasts. “Off the back of our Group’s exclusive acquisition of the recent UEFA Euro 2020 and the La Liga broadcast partnership with MBS Sports, we are confident that this new partnership with MBS Sports, which gives us the opportunity to cover the French Ligue 1 games, will cement the place of Nigeria Info, Wazobia FM, Arewa Radio, and Wazobia Max as the home of the biggest international football offering across the Nigerian media landscape,” he said. Harping on the statement of the CEO, Femi Obong-Daniels, General Manager, Corporate Affairs for the radio group, noted that the core mandate of the stations is to provide quality broadcast services while also setting the pace in the Nigerian media ecosystem.

Thursday, December 9, 2021

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Seyi Makinde to Federal Govt “The era of facing criminals bearing AK-47 and X15 with Sakabula (Dane gun) and pump action gun in the modern time is a ridiculous error. Therefore, Amotekun must be allowed to play the role that it can provide security, because as of today, the presence of Amotekun in all areas of Oyo State has brought about improved security that is being enjoyed.”—Oyo State Governor on why Amotekun personnel should bear sophisticated weapons in order to be more eﬀective in tackling criminals.

OLUSEGUNADENIYI THE VERDICT

olusegun.adeniyi@thisdaylive.com

The Killer-Bullies in our Schools

ames and Jennifer Crumbley, parents of the prime suspect in the recent deadly shooting at a Michigan (U.S.) high school, were charged last Friday with involuntary manslaughter. The alleged crime of the Crumbleys is that despite tell-tale signs that their teenage son could commit murder, a gun was carelessly left within his reach. In addition, when the school noticed unusual, and potentially dangerous, online activity by Ethan and alerted his parents, the only reprimand he received from his mother via text message was: “LOL I’m not mad at you. You have to learn not to get caught.” Barely 24 hours later, Ethan fired the gun purchased last month by his father, killing four classmates and wounding seven others. Despite being only 15 years old, Ethan Crumbley will be tried as an adult to face charges of terrorism and first-degree murder. In also charging the parents, the Oakland county prosecutor, Karen McDonald said that while Ethan might have pulled the trigger, “there are other individuals who contributed to this. It is my intention to hold them accountable.” Accountability. That is our greatest challenge in Nigeria where people are hardly ever held to account for egregious infractions. Over the years, we have witnessed numerous reported fatalities in our schools due to bullying. But beyond social media hysteria, nothing ever happens because concerned school management often conspires with parents of the bullies to ensure that victims are not availed justice. While we are still on the case of a 14-year-old girl allegedly raped to death at Premier Academy in Abuja, a 12-year-old student of Dowen College in Lagos, Sylvester Oromoni, was allegedly bullied to death by students whose names he reportedly mentioned. The trending death-bed video of the boy is harrowing. And I fail to understand how Dowen College could claim that his plight arose while playing football. The less said about their “all our kids are morally upright” statement the better, especially since we have also heard from other sources, including family members of the deceased student. According to the bereaved father, the late Sylvester (Jnr.) stated that five boys had barged into his room, put off the lights, and beaten him up in the presence of other students. “Junior said, ‘Mummy, I didn’t play ball; I didn’t fall.’ He jumped off his hostel bed,” recounted the father. “They kicked him, marched on his waist. Other students ran off. They threatened to kill them all if they spoke a word to the school staff. They coerced Junior to say he sustained injuries while playing ball. They threatened him. If you ask the roommate, they’d all lie. They marched on his ribs and waist. All that pain for a 12-year-old.” Sylvester Oromoni (Snr) said when first notified that his son had a football-related injury, he sent a family friend in Lagos to pick him up and take him to the hospital. The Oromoni family is based in Warri, Delta State. “When he (family friend) got there, he panicked, pointing out that he doubts it’s a football injury as the school claimed. He said the boy couldn’t stand because his waist was bent and swollen along with one side of his belly. His mouth was black. I asked my eldest son to fly to Lagos on November 24. On getting there, he screamed. ‘This is beyond football injury. Come to Lagos now,’ he told me over the phone.” This is a case that requires an urgent and thorough investigation. But while that is going on, we must understand that the law presumes all accused persons to be innocent until proven otherwise.

Late Sylvester Oromoni

Cyber-bullying the promoters of Dowen College or families of suspects in this tragedy will also not be right, especially since there is going to be a coroner’s inquest. What we must ensure is that

the law takes its course so as not to waste this watershed moment that can help in reforming a critical aspect of our school system. In Nigeria, we like to bury our heads in the sand instead of confronting problems that other societies admit and deal with. Any parent who has had children in our secondary schools knows that when it comes to bullying, the unspoken rule is ‘Don’t ask, don’t tell’. Even in rare cases when victimised children volunteer information about these scoundrels, the plea that usually follows would make a parent think twice before reporting to the school management. Most students would rather suffer silently than be ostracized by peers who would label them a ‘snitch’ for reporting bullies. And with that, the problem persists. Between June and November 2019, a team of 14 Nigerian researchers whose report has been published in international journals interrogated ‘Bullying experience of pupils in Nigerian primary schools’ with three questions for 1080 pupils across the country: Have you been bullied (hit, kicked, threatened, locked inside a classroom, sent/said nasty and unpleasant things to) this academic session? Have you bullied someone this academic session? Have you witnessed someone being bullied this academic session? The findings were shocking but not surprising. 51.4% of male respondents and 50.8% of females said they had experienced bullying. 51.8% of males and 49.5% of females confessed being perpetrators of bullying. 39.6% of males and 42.9% of females

confirmed being bystanders while colleagues were bullied. The report concluded that bullying is “an increasing problem among Nigerian schoolchildren” while urging government, at all levels, to initiate policies to counter the menace. It is, of course, expecting too much to imagine that our government would act based on academic research! Following a similar heartbreaking story of the JSS1 student who was brutally molested at the Deeper Life High School in Akwa Ibom State last December, I wrote: “If such abuse and criminality can happen in a faith-based school where parents pay exorbitant fees, one can only imagine what happens in our public schools where anything goes. Based on the response of authorities concerned, it is easy to see that there is more interest in managing the optics than the welfare of the traumatised boy.” In countries where they take bullying seriously, the law requires the school to report, document and investigate allegations within a specific number of days and take appropriate action. But what we have in Nigeria is a culture of silence and cover-up. In the United States where intentional aggression, power imbalance between aggressor and victim, and repetition of aggression, constitute bullying in schools, all 50 states have laws that offer protection to the victims. There are also federal laws regarding school bullying. In our country, bullying has almost become part of the school curriculum. NOTE: Piece concluded on page 15

The Omicron Discrimination

ast Friday at the instance of the Health Minister, Dr Osagie Ehinare, I moderated a high-level conversation on ‘Health and the Economy: Role for Vaccines’ in Abuja. Discussants included the World Health Organisation (WHO) Representative in Nigeria, Dr. Walter Mulombo, World Bank Country Director, Mr Shubham Chaudhuri, Lagos State Commissioner for Health, Prof Akin Abayomi, CEO, Flying Doctors Investment Company, Dr. Ola Brown, NAFDAC Director General, Prof. Mojisola Adeyeye and the COO of Biovaccines Nigeria Limited, Mr Everest Okeapu. Former Health Minister, Prof. Onyebushi Chukwu and the Minister of State for Health, Dr Olorunnibe Mamora were also part of the discussion. So was Enihare himself as well as the Ministry’s Permanent Secretary, Mr Mahmuda Mamman, Director of Planning, Research and Statistics, Dr Ngozi Azodoh and Commissioners of Health from the 36 states. Speaking on hindrances to indigenous private sector healthcare investment/financing in Nigeria, Ola Brown highlighted what the authorities need to do as well as the timelines that must be put in place for deliverables. Since achieving universal health coverage (UHC) and equity in healthcare remain central to the goal of ending poverty by 2030, Chaudhuri’s intervention was on how the World Bank/International Finance Cooperation could support Nigeria to embark on vaccine manufacturing as a strong business case for human capital

development. He also shared perspectives on what we can learn from India. Adeyeye spoke on the various efforts embarked upon by NAFDAC and the regulations that are in place to encourage production of vaccines in the country. Her position aligned with that of Mulongo. The WHO representative believes in the innate capacity of Nigeria to be the hub in vaccines production for the continent. Abayomi, the only discussant not physically present, joined by Zoom from Lagos, to speak on the problems of access to vaccines in developing countries and what Nigeria can do to make a difference. In all, it was quite a productive conversation. Given that the epidemiology of Omicron, the latest COVID-19 variant, remains unpredictable, the local production of vaccines to tackle the pandemic is the surest way to go. Sadly, that conversation is now redundant considering how the pandemic has become a political tool for authorities in certain countries, especially the United Kingdom. Responses are no longer guided by science but rather as means for enforcing controversial immigration policies and enthroning petty prejudices. That is the only explanation for the recent UK Red List of countries which included Nigeria in their travel bans. Ever since the pandemic became global early last year, there has been a death-wish in the developed world for people in Africa. Now, there seems to be a conspiracy to punish us for not conforming to that expectation. If some countries are unhappy that Africans

are not falling and dying in droves from Covid-19 complications as they predicted, there is nothing we can do about that. It is perhaps in the bid to make that prophecy inevitable that Africa has received little support in fighting a pandemic that was thrust upon us and for which we are now being scapegoated. It was therefore most fitting that African leaders derided the COVID-19 vaccine inequity at the 67th UN General Assembly in September. With more than 82 per cent of doses acquired by wealthy countries, less than 1 per cent have been sent to low-income nations. President Cyril Ramaphosa of South Africa proposed a temporary waiver of trade-related aspects of intellectual property rights to enable developing countries to also produce vaccines. Ramaphosa was joined by others who argued that profit should not come before global health. “It is truly disheartening to see that whilst most of our countries have inoculated less than 2 per cent of our populace and thus seek more vaccines for our people, other countries are about to roll out the third dose,” said Samia Suluhu Hassan, President of the United Republic of Tanzania. Hopefully, by the 20th of this month when the policy is due for a review, commonsense will prevail in London on the Red List. There should be no basis for what the United Nations Secretary General, Antonio Guterres, has most appropriately dubbed an ‘apartheid’ policy against Nigeria and other African countries.

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