MONDAY 20TH DECEMBER by THISDAY Newspapers Ltd

Imperial College London: Omicron Largely Evades Immunity from Past Infection or Two Vaccine Doses Fauci harps on booster jabs

Peter Uzoho with agency report The Omicron variant largely evades immunity from past

infection or two vaccine doses, according to the latest Imperial modelling. The new report (Report

49), from the Imperial College London COVID-19 response team estimated that the risk of reinfection with the Omicron

variant was 5.4 times greater than that of the Delta variant. But amid concerns about the rapidly spreading omicron

variant, the Director of the National Institute of Allergy and Infectious Diseases in the United States and White House Chief

Medical Adviser, Dr. Anthony Fauci has described the booster Continued on page 10

Access Bank Moves to Claim Late Sonny Odogwu’s Properties over N50bn Debt...Page 6 Monday 20 December, 2021 Vol 26. No 9751. Price: N250

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Rampaging Terrorists Kill 38 in Kaduna Communities

Deji Elumoye, Kingsley Nwezeh in Abuja and John Shiklam in Kaduna

President Muhammadu Buhari, yesterday, said the last vestiges

President Muhammadu Buhari (R) and his wife, Aisha, departing Istanbul, Turkey...yesterday

Continued on page 10

On Deadline, Buhari Fails to Reject Electoral Act Amendment Bill Hope now is for him to sign since by law he failed to communicate rejection Govs, Malami, APC still against democratic reform of voting culture CSOs express shock, disappointment in president Chuks Okocha in Abuja By failing to assent to the Electoral Act Amendment Bill and communicate same to the National Assembly within the time stipulated by the constitution, President Muhammadu Buhari, might have resolved to sign the bill forwarded to him by the legislature on November 19, 2021. Although some governors of the ruling All Progressives Congress (APC), the Attorney General of the Federation and Minister of Justice, Abubakar Malami, as well as other party stakeholders were still against the electoral bill as passed by the National Assembly, failing to clearly reject the bill as demanded of him by the constitution and communicate the decision, has left the country with the hope that the president would sign L-R: Chief Executive Oﬃcer, Signature Advisory Limited, Mr. Samson Davies; Divisional Head, Listing Division, Nigerian Exchange Limited (NGX), Mr. Olumide

MORE EXPANSION DRIVE...

Continued on page 10

Bolumole; Chief Executive Oﬃcer, Ronchess, Mr. Jackson Ukuevo; Managing Director, Mainstream Capital Limited, Mr. Ebi Enaholo; and Head, Stockbroking Division, FSDH Capital Limited, Mrs. Nnena Umeh, at the closing gong ceremony to list Ronchess Global Resources Plc on the NGX in Lagos ...recently

MONDAY DECEMBER 20, 2021 • T H I S D AY

MONDAY, DECEMBER 20, 2021 • T H I S D AY

NEWS

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 08033506821, 08097777322, 08074010580

DIVIDENDS OF DEMOCRACY... L-R: Senator Saidu Ahmed Alkali; Governor of Gombe State, Muhammad Inuwa Yahaya and Senate President, Ahmad Lawan, at the APC Square, Gombe, during the launch of the empowerment Programme by Senator Alkali ...yesterday

NERC: 126 Nigerians Killed, 68 Injured in Electricity-related Accidents in 18 Months Emmanuel Addeh in Abuja At least 126 Nigerians were electrocuted, while 68 sustained serious injuries in the 18 months spanning the first quarter of 2020 and the second quarter of 2021, a THISDAY analysis of recent reports by the Nigerian Electricity Regulatory Commission (NERC), has shown. The federal government taking cognisance of the incessant deaths and injuries in the electricity industry had in 2015, established the Nigerian Electricity Management Services Agency (NEMSA) empowered to carry out the functions of enforcement of technical standards and regulations in the industry. In addition, the organisation is statutorily empowered to carry out technical inspection, testing and certification of all categories of electrical installations to ensure the delivery of safe and reliable power supply and guarantee the safety of lives and property in the industry. Stakeholders in the entire value chain, including NERC, the electricity Distribution Companies (Discos), the Generation Companies (Gencos) and the Transmission Company of Nigeria (TCN) are also in the respective laws setting them up, expected to ensure best practices in the sector. However, many Nigerians have either died or are maimed for life due to faulty electricity installations, incessant power surges which result in fire outbreaks, old and unmaintained power transportation network, among others. The latest NERC data showed that in Q1 of 2020, the commission received a total of 114 health and safety reports from licensees, with nine deaths during the period and four injuries recorded. The statistics also showed that an average of three persons died from electrocution per month during the first quarter of 2020, as compared to the monthly average of at least four incidents recorded in the fourth quarter of 2019. In the second quarter of 2020, NERC stated that the number

of deaths increased to 26 while total injuries were 12 compared to the preceding quarter. “The statistics showed that an average of nine persons died of electrocution per month during the second quarter of 2020 as compared to the monthly average of three deaths from electrocution recorded in the first quarter of 2020. “The commission, in line with its mandate to ensure licensees’ commitment to safe energy delivery, has commenced the review of the accident investigation reports on various health and safety incidents recorded during the quarter for proper regulatory interventions,” it assured. It noted that it was continuing to intensify efforts at implementing various safety programmes aimed at eliminating accidents in the industry. According to NERC, among the safety programmes being implemented by the commission include, but not limited to the standardisation of protective schemes, public enlightenment on safety, engagement of government agencies on right of way violation and a review of an operational procedure for distribution system operators. However, Nigerians, comprising employees of the operators in the value chain and customers, continued to die from electrocution during the third quarter of 2020, with the number of injuries and deaths being 11 and 19 respectively. Again, the NERC data revealed that approximately six persons died from electrocution every month during the third quarter of 2020 compared to the monthly average of nine in the second quarter of the same year. NERC stated that it had commenced the review of the accident investigation reports on various health and safety incidents recorded during the quarter for proper regulatory interventions. Furthermore, in the fourth quarter of 2020, 114 accidents were reported by the operators, out of which 22 persons died while 13 persons were seriously

injured. The figure was three higher in terms of deaths and an increase of two for the injured. A summary of statistics of the accidents experienced in the industry during the first quarter of 2021 juxtaposed with that of the preceding quarter, put the number of deaths 24 and the number of injuries at 13. This was a decline in the health and safety performance of the operators during the first quarter of 2021 as the number

of deaths increased by two from the preceding quarter. In addition, the data showed that eight persons died from electrocution every month during the first quarter of 2021 compared to the monthly average of seven deaths from electrocution in the fourth quarter of 2020. The commission said in line with its mission on safe delivery of electricity to consumers, it had commenced

investigation to unravel the remote and immediate causes of the accidents for necessary regulatory actions. Also, during the second quarter of 2021, the latest in the series of data released by the commission, it noted that a total of 86 mandatory health and safety reports were received from licensees. After the analysis of the health and safety performance of licensees, NERC disclosed that

26 deaths were recorded while 15 injuries of various degrees involving both employees of the companies and the third parties were posted. However , it noted that the health and safety performance showed a decline over the first quarter of 2021 when deaths were 24, compared with the third quarter of 2020 when there were 19 deaths and 11 injuries were recorded and fourth quarter when there were 22 deaths.

Police Service Commission Set to Deliberate on Kyari Report this Week Kingsley Nwezeh in Abuja The Police Service Commission (PSC) is expected to this week deliberate on a probe panel report on the suspended Deputy Commissioner of Police (DCP), Mr. Abba Kyari, submitted to it by the Inspector-General of Police (IGP), Mr. Alkali Usman, THISDAY learnt yesterday. The IGP had submitted the probe panel report on the suspended Head of the Intelligence Response Team, to the PSC. Kyari was investigated over his alleged role in a $1.1million internet scam by notorious internet scammer, Abbas Ramon, aka Hushpuppi, and four others. The probe followed Kyari’s indictment by the United States Federal Bureau of Investigation

(FBI), which recommended that he be extradited to the US for trial. A member of the PSC, Mr. Braimoh Adogame Austin, said the commission would deliberate on the issue this week. “The IGP has submitted Abba Kyari’s report to the PSC and deliberations on the matter will commence this week. I can’t tell you when it was submitted but it’s now with the commission,” he said. The Dubai Police in the United Arab Emirates had, in June 2020, arrested Hushpuppi and others. They were later extradited to the US for prosecution by the FBI. The FBI Special Agent, Andrew Innocenti, had alleged that Hushpuppi contracted Kyari after a “co-conspirator,” Chibuzo Vincent, allegedly threatened to

expose the alleged $1.1m fraud committed against a Qatari businessman. Kyari was alleged to have benefitted from the proceeds of a $1.1 million internet fraud. Kyari had taken to facebook on July 29 to deny the allegations, but he later deleted the post after editing it many times. Police authorities had recommended the suspension of Kyari, which the PSC carried out on July 31. The IGP had, on August 2, 2021, constituted the Special Investigation Panel headed by the Deputy Inspector-General of Police in charge of the Force Criminal Investigations Department, Mr Joseph Egbunike, to probe the allegations. Egbunike on August 26

submitted the panel’s report, which he said was the "outcome of a painstaking, transparent and exhaustive investigative process.” He disclosed that the report contained the case file of the probe, evidence and findings as well as testimonies from Kyari and other persons and groups linked to the matter. The Minister of Police Affairs, Maigari Dingyadi, had on September 14, during a television interview, said the findings and recommendations on Kyari had been submitted to the Attorney-General of the Federation, Abubakar Malami, for, “legal opinion” and thereafter for presentation to the President, Muhammadu Buhari, adding that the final decision would be taken by the PSC.”

Buhari Returns to Abuja After Three-day Official Visit to Turkey Deji Elumoye in Abuja President Muhammadu Buhari yesterday returned to Abuja after a three-day official visit to Turkey. The president who arrived the presidential wing of the Nnamdi Azikwe International airport in the Nigerian Air Force 1 Presidential jet at about 4.35pm was immediately ferried in a chopper to the State House, Abuja. On hand to welcome President Buhari to the State House were his Chief of

Staff, Prof Ibrahim Gambari; Secretary to the Government of the Federation, Boss Mustapha; Permanent Secretary, State House, Tijjani Idris Umar; his Administrative Officer, Abubakar Maikano and his son, Yusuf Buhari, who was turbanned Talban Daura on Saturday. Gambari, thereafter presented a big card to the President to commemorate his 79th birthday anniversary marked in Instanbul, Turkey last Friday. President Buhari last Thursday left Abuja

accompanied by his wife, Aisha, six Ministers as well as two other top government officials to attend the TurkeyAfrica Partnership Summit in Istanbul which was hosted by President Recep Tayyip Erdogan of the Republic of Turkey. Apart from the President and his wife, others who went on the trip included the Ministers of Foreign Affairs, Geoffrey Onyeama; Defence, Maj-Gen. Bashir Magashi (rtd); FCT, Mohammed Bello; Health, Dr. Osagie Ehanire;

Agriculture, Mohammed Abubakar; Industry, Trade and Investment, Adeniyi Adebayo; the National Security Adviser, Maj.-Gen. Babagana Monguno (rtd); and the Director-General of the National Intelligence Agency, Ambassador Ahmed Rufai Abubakar. The theme of the Summit was ‘‘Enhanced Partnership for Common Development and Prosperity’’ and the agenda included reviewing the cooperation between African countries and Turkey since the last summit in 2014.

MONDAY, DECEMBER 20, 2021 • T H I S D AY

NEWS

EDO CREATIVE HUB, CREATING BUSINESS-FRIENDLY ENVIRONMENT... L-R: Film Director, Stanley Ohikhuare; Edo State Governor, Mr. Godwin Obaseki, and Managing Director, EdoJobs, Mrs. Ukinebo Dare, during the EdoJobs Result Show, at the Edo Creative Hub, in Benin City... yesterday

Access Bank Moves to Claim Late Sonny Odogwu’s Properties over N50bn Debt Alex Enumah in Abuja Access Bank Plc last week commenced the process of recovering the outstanding sums due it from a total of over N50 billion judgment debt in its favour against the late Chief Sunny Odogwu and two of his companies - Robert Dyson & Diket Limited and SIO Property Limited. The said judgment debt was in respect of a property situated on No. 31 – 35, Ikoyi Crescent, Ikoyi, Lagos State, known as Luxury Collection Hotels and Apartments (formerly Le Meridien Grand Towers). The said property owned by SIO Property Limited of which the late Odogwu was the majority shareholder, was financed with a loan from the then Diamond Bank, which is now Access Bank. Justice Saliu Saidu of the Lagos Division of the Federal High Court in suit number: FHC/L/ CS/1633/14, had in November 3, 2015, found the late Odogwu and his companies guilty of breach of Bank-Customer Relationship and consequently ordered the sale of the property used as collateral for the loan sum of N26,229,943,035.22. However, with a 20 per cent interest on the N26 billion judgment debt in the last six years the judgment was delivered, the total debt has now reason to over N50 billion. The bank had in 2014, commenced legal action against the defendants at a Federal High Court, Lagos, following the failure of the defendants to meet their loan obligations granted in the financing of the Le Meridien Grand Towers, known as Luxury Collection Hotels and Apartments. While Access Bank was the sole plaintiff; Robert Dyson & Diket Limited, SIO Property Limited, Odogwu, the Corporate Affairs Commission (CAC) the Registrar of Title Federal Land Registry and Leadway Trustee Limited were the first to sixth defendants respectively. Plaintiff in arguing its case had placed plethora of evidence before the court on how it granted various credit facilities to the 1st and 2nd defendants to finance the construction of the Luxury Collection Hotels and Apartments. Plaintiff added that the various facilities were at various times restructured to ease the repayment of the loan facility but the 1st to 3rd defendants continue to refused or failed to meet their

obligations, stating that the project site located at 31-35 Ikoyi Crescent, Ikoyi, Lagos and the Personal Guarantee of the late Chief Sonny Odogwu were used as collaterals for the facility. Among the 20 reliefs sought by the plaintiff then was that whether having regards to plaintiff’s colossal investment/ financing of the sum of N26 billion in the 1st to 3rd defendants project and by the various agreements entered between plaintiff and the 1st to 3rd defendants to create a legal mortgage in favour of the plaintiff, a beneficial owner of the property on No 31 – 35 Ikoyi Crescent, Ikoyi, Lagos State, and the breach of the terms of the agreement by the 1st to 3rd defendants, the plaintiff is entitled to leave of court to foreclose and sell the affected property. “Whether having regard to the failure, refusal and or neglect of the 3rd defendant to execute the deed of personal guarantee as agreed as agreed with the plaintiff on November 19, 2010 as part security of the cumulative sum of facility advanced to the 1st to 3rd defendants for the project at 31 -35 Ikoyi Crescent, Ikoyi, Lagos State which now stands at N26 billion as at September 30, 2014, order an order of specific performance can be made to compel the 3rd defendant to execute the said deed of personal guarantee in favour of the plaintiff within two days of this court.” Delivering judgment in the suit, Justice Saidu held that the first to third defendants were in fundamental breach of the contract for the financing of the construction of the Luxury Collection Hotels and Apartments, having admitted “Indebtedness to the plaintiff in the sum of N10, 252,315,567.28 on the project finance facility as at December 20, 2011.” The judge stated that where there was an admission of indebtedness by a party, the court could make an order for the sum admitted to be paid. “The following is very clear from the totality of evidence before me; that there are facilities granted and disbursed….the facts of these facilities were admitted in paragraphs 8, 10, 11, 13,14, 15, 16 and 17 of the counter affidavit. “I have not seen anywhere in the pleadings of the 1st to 3rd defendants that they did not enter the contract as shown in exhibit DB3 with the agreed collateral

being a third-party legal mortgage on the parcel of land located at No 31 – 35 Ikoyi Crescent, Ikoyi, Lagos State”, the court held. In addition, the judge said the first to third defendants have not produced before the court any evidence that any of the conditions for the grant of the facility was waived or demonstrated to the court how they liquidated their indebtedness. “With all the facts before me, I am satisfied that the first to third defendants who have admitted indebtedness has not shown how the indebtedness was liquidated. “There are four probable methods of answering an allegation of indebtedness which are to admit the debt, deny the debt, to counter-claim against the debt and to set off against the debt. From all the facts before me the 1st to 3rd defendants have only admitted the debt but have not shown how the admitted indebtedness was liquidated. “When the 1st to 3rd defendants have failed to liquidate their debt, the court has a duty the duty to order specific performance on the part of the 1st to 3rd defendants to honour their pledge in the contract.

The 3rd defendant had through the 2nd defendant pledged to execute a third-party legal mortgage in favour of the plaintiff as shown in the documentary evidence before this court. “This court therefore has the power to grant an equitable relief of specific performance against the 1st to 3rd defendants to do what they have agreed to do by the contract”, he added. Justice Saidu accordingly made the following consequential order: “Judgment is entered in the sum of N26, 229,943,035.22 jointly and severally against the 1st to 3rd defendants being the outstanding sum as at September 30, 2014 advanced by the plaintiff for the 1st to 3rd defendants project which sum has remained unpaid despite several demands. “That leave is granted to the plaintiff to foreclose and sell the said property situated at 31 – 35 Ikoyi Crescent, Ikoyi, Lagos and to deposit the proceed of the sales into the 1st defendant’s account kept with the plaintiff towards the partial satisfaction of the judgment sum against the 1st to 3rd defendants. “That leave is granted the

plaintiff with the supervision of the Court’s Registrar to sell property situated at No 31 – 35 Ikoyi Crescent, Ikoyi, Lagos being the security for the sum of N26, 229,943,035.22 advanced by the plaintiff to the 1st to 3rd defendants for the development of the project called Luxury Collections Hotels and Apartments, the repayment of which facility, the 1st to 3rd defendants have failed, refuse otherwise neglected to make despite several demands. “The 3rd defendant is hereby ordered to execute the said deed of personal guarantee of the sum of N26, 229,943,035.22 in favour of the plaintiff within 30 days of the judgment of this court.” The judge in addition restrained the 3rd defendant from disposing, selling or alienating any of his personal assets, money, shares, stock and any of his negotiable instruments until the sum of N26, 229,943,035.22 owed to the plaintiff by the 1st to 3rd defendants is fully paid. The court also ordered the sixth defendant to pay to the plaintiff the sum of N49 million being money it had and recovered

for a consideration that as failed. The sixth defendant was further ordered to surrender all the title documents in its custody in relation to the said property and other documentation connected and or pertaining to the extant transaction of which the plaintiff is the beneficiary. Not satisfied with the Judgment of the Court, the Defendants appealed to the Court of Appeal in Appeal No. CA/L/1151/2015, but while the case was pending at the Court of Appeal, the late Chief Sonny Odogwu died, and his numerous children attempted to dissipate the various assets charged to the bank including the property located at 31-35 Ikoyi Crescent, Ikoyi, Lagos that the Court has ordered to be sold. The bank was constrained to takes steps to restrain the beneficiaries of the estate of the late Odogwu from dissipating the various assets acquired by depositors’ funds which ultimately led to settlement discussions between the Bank and the beneficiaries of the estate of the late Sonny Odogwu and subsequent execution of Settlement Agreements.

Malami, State AGs, Others Seek Uniform Criminal Justice Act Administration Say present justice system cannot fight crime

Alex Enumah in Abuja The Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami, alongside states Attorney Generals as well as other critical stakeholders in the justice sector have called for uniformity in the minimum standard for the implementation of the Administration of Criminal Justice Act (ACJA) and the Administration of Criminal Justice Laws operated by both the federal and state governments. The stakeholders that spoke at a summit on the National Minimum Standards (NMS) for effective implementation of the ACJA, 2015 and ACJLs, agreed that there was need to change the way the ACJA and ACJLs were being handled. Malami, in a goodwill, commended the Center for Socio-Legal Studies (CSLS) for coming up with compelling

need to lay down workable modes and opened up the avenue to receive inputs from stakeholders including local and international agencies in the evaluation process to get a document that is workable and acceptable to all. The AGF, who was represented by a staff in the Federal Ministry of Justice, Mr. shauibu Abdulraheem, assured stakeholders of his cooperation and support in the realization of the laudable initiative. "As a major stakeholder driving the administration of justice, however, we are aware that there are challenges here and there, and we hope this forum will be in a better position to identify, address and erase these issues on the front burner with the view of proffering solution for a robust justice sector development for the benefit of all", he said. Adding that the initiative

would enhance the nation's criminal justice system to ensure that justice was served to all manner of persons. In a welcome, President of the CSLS, Prof. Yemi AkinseyeGeorge, said several of the security and developmental challenges facing the country presently were due to the low capacity of the criminal justice system to prevent or punish wrongdoing and reward positive contributions. He lamented that despite the passage of the ACJA and ACJLs by several states, criminal justice administration in the country remains lethargic, erratic and dysfunctional. "The manifestations of this include increasing wave of criminality, poor investigation of crimes, and lack-lustre prosecution resulting in delay of cases, congestion of courts and correctional facilities, etc,” he added.

The Learned Law Professor, however, argued that the National Minimum Standard Project was designed to inject vibrancy into the criminal justice system by serving as a catalyst for improved implementation of the ACJA and ACJLs by agencies of Criminal Justice administration at the federal and state levels. "This is an effort to harmonise and strengthen the criminal justice system, by developing minimum standards to guide federal agencies and state governments in implementing the ACJA/ACJLs across the country,” he added. He said the plan was to identify common elements in the federal ACJA and ACJLs of the various states and agree on standards that would be developed into benchmarks or indicators by which the federal agencies and the states will be evaluated.

MONDAY DECEMBER 20, 2021 • T H I S D AY

MONDAY, DECEMBER 20, 2021 • T H I S D AY

PAGE TEN RAMPAGING TERRORISTS KILL 38 IN KADUNA COMMUNITIES of terrorists were the ones soft-targeting innocent citizens, looting their assets and burning houses, because they were already frustrated as a result of the heat turned on them by the nation’s troop. The president, who just got back from a three-day visit to Turkey, returned to the news of some 38 persons, reportedly killed in some communities in Kaduna State by bandits and stressed that killing of innocent citizens were no more acceptable. Also, the Commissioner for Internal Security and Home Affairs in Kaduna State, Samuel Aruwan, who disclosed the latest killings in a statement, confirmed that no fewer than 38 people were killed in Giwa Local Government Area of the state. However, in a counter effort, operatives of the Nigeria Police Intelligence Response Team (IRT), working with the Taraba State Police Command, said they arrested eleven notorious kidnap suspects in Taraba over alleged complicity and various criminal roles in the recent spate of kidnap incidents, including the killing

of a police sergeant in Jalingo, the state capital. A statement by Force Headquarters, which also claimed that the suspects were responsible for the kidnapping of a serving personnel of the Nigeria Customs Service and a relative of the Emir of Jalingo, stated that the police recovered seven AK47 rifles, two baretta pistols, 121 rounds of live ammunition of different calibre, four magazines, masks, illicit drugs and other incriminating items during raids of various hideouts of the suspects in the state. Buhari, while condemning the renewed killings in Kaduna State, said the gruesome nature of recent incidents in Kauran Fawa, Marke and Ruhiya of Idasu Ward of Giwa Local Government Area, has made him particularly sad and the killings unacceptable. In a release by the president’s spokesman, Garba Shehu, Buhari expressed the nation’s condolences to the Government of Kaduna State, the people of Zonkwa Chiefdom and the family of His Highness Nuhu Bature, the Agwam Kajju on

his demise. In praying for the repose of the souls of the deceased, the president reiterated that the nation's security forces had “turned the heat on the terrorists, who are getting frustrated and are soft-targeting innocent citizens, looting their assets, burning their homes and killing them indiscriminately.” Buhari further reiterated his directive to the security and intelligence chiefs to do everything they could to destroy the remaining vestiges of the terrorists. Aruwan, while speaking on the Kaduna killing, said the incident was reported to the state government by the military and police authorities, adding that, “security agencies have confirmed to the Kaduna State Government that 38 people were killed across the locations attacked.” His statement identified some of the affected villages to include Kauran Fawa, Marke and Riheya villages in Idasu district, adding that houses, trucks, and cars were also burnt, along with food and farm produce.

Aruwan said Governor Nasir El-Rufai of the state received the news with sadness and had sent condolences to the families of the victims of the brutal attacks while praying for the repose of their souls. “The governor also commiserated with the affected communities and directed the Kaduna State Emergency Management Agency to conduct an urgent assessment of the area towards providing relief,” he said. But, “in the meantime” he said, security agencies had sustained patrols in the general area.” The commissioner said 29 of the victims had been identified, with nine yet to be identified atthe time of the security update. According to him, the 29 identified victims included Rabi`u Wada, Salisu Boka, Nura Nuhu, Bashari Sabiu, Lawal Dahiru, Abbas Saidu, Inusa Kano, Lawal Nagargari, Malam Aminu, Lawal Maigyad and Mustapha Lawal Aliyu. Others victims, according to Aruwan, include, Sale Makeri, Sani Lawal, Auwal Umar,Jamilu Hassan, Badamasi Mukhtar,

Malam Jibril, Lawal Tsawa, Sule Hamisu, Sadi Bala, Kabiru Gesha, Abubakar Sanusi, Saiph Abdu, Haruna Musa, Lawal Hudu, Shuaibu Habibu, Yahaya Habibu and Abubakar Yusuf. Meanwhile, on the Taraba situation, a statement by Force Public Relations Officer, Mr Frank Mba, a Commissioner of Police, said the arrest of the suspects followed the deployment of operatives of the Intelligence Response Team by the Inspector General of Police, Mr Usman Alkali Baba, to the state to complement efforts of the sState command in promptly containing the disturbing trend of kidnapping, armed robbery, and other violent crimes in the state. The suspects, Luka Adam, Shuaibu Nuhu, Moses Amos, Peters Mashi, Ahmadu Mallam, Adamu Mohammed, Dahiru Mallam Dalha, Gambo Isah, Sanusi Ahmadu, Mallam Mohammed Mauludu, Ibrahim Idi, all indigenes of Taraba State, were arrested by the police team from their various criminal hideouts. Police investigations revealed

that the suspects, who were on the wanted list of the command, were members of a notorious kidnap syndicate and had been evidentially linked to the recent upsurge in incidents of kidnapping in the state, including deliberate and calculated attacks on security personnel. Investigations also revealed how two of the suspects, Gambo Isah and Sanusi Ahmadu, masterminded the killing of the police sergeant and left a police inspector with gunshot injuries in their recent operation to enable them escape arrest, having abducted some victims in Jalingo recently. Further investigations revealed that the modus operandi of the suspects included trailing individuals notably, business owners, government functionaries, motorists with flashy and exotic cars, among others, to their houses and thereafter planned and executed the kidnap of such persons. "They also collect huge sums of money as ransom from relatives and friends of their victims before their release," it said.

date to sign and that is it. It is purely at his beck and call. “However, I am convinced he is signing it, because if you know the president very well, he does not like to disappoint the international community and having given his words on leaving a legacy of credible electoral system, I believe he would sign it. Besides, there are no indications of any communication to the legislature and the 30 days have expired, so, let’s take it that he would sign it,” the source explained. Interestingly, had the president declined assent to the bill and communicated same to the legislature, it would have marked the second time in two years, that he has botched an attempt to reform the country's electoral system. Buhari had previously declined assent to an earlier version of the same bill passed by the Eighth National Assembly led by then Senate President Bukola Saraki of the main opposition Peoples Democratic Party (PDP), citing closeness to elections. But the president did not adduce any reason for his latest refusal to approve reform of the country’s electoral system, despite passage by the bicameral legislature under the leadership of his fellow All Progressives Congress (APC) member, Senate President Ahmed Lawan.

Again, by repeatedly voicing an intention to leave behind a legacy of credible electoral system, Buhari would have handed victory against the electoral reform to governors, particularly, those elected on the platform of APC; the Attorney General of the Federation and Minister of Justice, Abubakar Malami, and some prominent members of the ruling party, who never hid their disdain for a progressive electoral culture, if he had declined assent. The National Assembly had, while forwarding the amended Electoral Act Bill to the president, urged him to sign it in the collective interest of the country, especially, in view of his promise to leave a legacy of free, fair and credible electoral system for the country. Among the major amendments to the electoral act bill was the approval by the legislature of direct primaries by political parties in the election of candidates for elections. But this proposition did not sit well with some elements within the political class, especially, from the ruling party. They had since launched an offensive against direct primaries, urging the president not to sign the amended electoral act bill. In the forefront here was Malami, who advised the

ON DEADLINE, BUHARI FAILS TO RE JECT ELECTORAL ACT AMENDMENT BILL the bill, ultimately. This, nonetheless, the president has continued to received flaks from different quarters of the country, particularly, the civil society groups, which objected to his decision to keep the nation in suspense, knowing the importance of the bill to an average Nigerian. The president has for the past couple of days put Nigerians and the diplomatic community on the edge, as the December 19 deadline, which marked the expiration of the constitutional 30 days required for him to communicate his position on the Electoral Act Amendment Bill to the National Assembly lapsed. The bill passed by the Senate and the House of Representatives, had been forwarded to the president since November 19 for the president’s assent. Interestingly, the law only requires of the president to communicate to the legislature if he was not going to sign the bill, there’s no specified time within which he must sign the bill into law, once he has resolved to sign it. Indeed, the law does not compel him to give reason for declining assent if he chooses to. Section 58(1) of the 1999 Constitution as amended provides that the power of the National Assembly to make laws shall be exercised by bills passed by both the Senate and the House of Representatives and, except as otherwise provided, be assented to by the President. This is in furtherance of the principle of separation of powers, which ensures that every organ of government in democratic dispensation, is checkmated by the other arms. Therefore, where a bill has been passed by the House in which it originated, it shall be sent to the other House, and it shall be presented to the President for assent, when it has been passed by that other House and agreement has been reached between the two Houses on any amendment made on it. Where, however, a bill is presented to the President for assent, the President shall within thirty (30) days thereof signify that he assents or that he withholds his assent. It is, however, the prerogative of the president to give reasons for his refusal to assent to a particular bill. However, the refusal of assent to a bill by the President might not be the end of the process for the passage of such bill. Where the President withholds his assent to a bill, which has been duly passed by the National Assembly, and the National Assembly

considers it expedient that such bill should be passed into law, the Constitution empowers the National Assembly to veto the refusal of assent by the President. Section 58 (5) of the CFRN provides that where the President withholds his assent and the bill is again passed by each House by two/thirds majority, the bill shall become law and assent of the president shall not be required.[1] What this signifies is that upon the refusal of assent to a bill by the President, if the National Assembly considers that the bill is of such nature as to become law notwithstanding the refusal of assent by the President, each House of the National Assembly may pass the bill again by two/ thirds majority and when that happens, the bill automatically becomes a law even without the assent or signature of the President. The National Assembly once exercised this overriding power in the case of the Niger Delta Development Commission Bill. Both Chambers of the National Assembly had passed the bill into law upon the failure of the President to sign or give his assent within the time prescribed by the Constitution. Poignantly, the overriding power is vested with the National Assembly to consider the expedience of each of the bills to which the President has

refused assent and to determine if it would take the passage of the bills a step further. Flowing from this, the interpretation is that President Buhari might have actually resolved to sign the bill, but still contending with the pressure from other equally weighty forces that were opposed to the bill hence his silence. This is also because the president had hardly wasted time with any bill he was not going to sign into law, if recent past experience was anything to factor into account. For example, some of the bill the president had declined assent included the Nigerian Film Commission Bill 2018, the Chartered Institute of Pension Practitioners of Nigeria Bill 2018, the Immigration Amendment Bill 2018, the Climate Change Bill 2018, the Digital Rights and Freedom Bill 2018, the Chartered Institute of Training and Development of Nigeria (Establishment) Bill 2018. Others were the Nigerian Aeronautic Research Rescue Bill 2018, the Federal Mortgage Bank of Nigeria Bill 2018, the National Housing Fund Bill 2018, the National Institute of Credit Administration Bill 2018, the National Bio-Technology Development Agency Bill 2018 as well as the Ajaokuta Iron and Steel Completion Fund Bill.

In withholding his assent, President Buhari gave such reasons infractions on extant laws, duplication of responsibilities of existing agencies, and financial constraints owing to prevailing economic circumstances. Therefore, on this particular bill, apart from the expiration of the one month deadline, which was known to all, there have not been reports or indications that the presidency had triggered any process of communication with the National Assembly to decline assent to the bill. Sources within the presidency insisted that Buhari was still disposed to signing the bill and would sign it eventually, which is just a matter of choosing a date for the ceremony and also why he was not bothered about the deadline. But he was still neck deep in managing the other tendencies that have maintained an unyielding opposition to a section of the bill, which approved direct primaries for political parties to determine their candidates for election. “It is a very simple process, the law only requires that he communicates to the National Assembly if he was not going to sign it and explain why. But if he has decided to sign it, there is no need for any communication or watch over any deadline; it is just a question of picking a

Continued on page 47

IMPERIAL COLLEGE LONDON: OMICRON LARGELY EVADES IMMUNITY FROM PAST INFECTION OR TWO VACCINE jabs as the tool to fight the spread of omicron. "Our booster vaccine regiments work against omicron," US-based ABC News quoted him to have said. "At this point, there is no need for a variant-specific booster," he added. While a specific booster was not needed, booster shots, in general, have been shown to greatly restore antibody levels in the fight against omicron, he added. The Imperial College report implied that the protection against reinfection by Omicron afforded by past infection may be as low as 19 per cent. Researchers estimated the growth and immune escape of the Omicron variant in England. They used data from the UKHSA and NHS for all PCR-confirmed SARS-CoV-2 cases in England who had taken a COVID test between November 29th and December 11th 2021. This level of immune evasion meant that Omicron poses a major, imminent threat to public health. According to the report obtained from the Imperial

College website, the study included people identified as having Omicron infection due to an S gene target failure (SGTF), as well as people with genotype data that confirmed Omicron infection. It revealed that overall, 196,463 people without S gene target failure (likely to be infected with another variant) and 11,329 cases with it (likely to be infected with Omicron) were included in the SGTF analysis, as well as 122,063 Delta and 1,846 Omicron cases in the genotype analysis. Firstly, it stated that the report looked at factors associated with testing positive for Omicron compared to non-Omicron (mostly Delta) cases. “The results suggest that the proportion of Omicron among all COVID cases was doubling every 2 days up to December 11th, estimated from both S-gene Target Failure and genotype data. Based on these results they estimate that the reproduction number (R) of Omicron was above 3 over the period studied. “The distribution of Omicron by age, region and ethnicity currently differs markedly from

Delta, with 18–29-year-olds, residents in the London region, and those of African ethnicity having significantly higher rates of infection with Omicron relative to Delta. London is substantially ahead of other English regions in Omicron frequency. “Omicron transmission is not yet uniformly distributed across the population. However, the researchers note that given its immune evasion, the age distribution of Omicron infection in the coming weeks may continue to differ from that of Delta,” it added. But, the study found no evidence of Omicron having lower severity than Delta, judged by either the proportion of people testing positive who reported symptoms, or by the proportion of cases seeking hospital care after infection. However, hospitalisation data remained very limited at the time, it added. “To assess the impact of Omicron on reinfection rates the researchers used genotype data, since even prior to Omicron, reinfection was correlated with negative S gene Target Failure

data, likely due to random PCR target failure caused by the lower viral loads associated with reinfections. “Controlling for vaccine status, age, sex, ethnicity, asymptomatic status, region and specimen date, Omicron was associated with a 5.40 (95% CI: 4.38-6.63) fold higher risk of reinfection compared with Delta. To put this into context, in the pre-Omicron era, the UK “SIREN” study of COVID infection in healthcare workers estimated that prior infection afforded 85 per cent protection against a second COVID infection over 6 months. The reinfection risk estimated in the current study suggests this protection has fallen to 19% (95%CI: 0-27%) against an Omicron infection,” it added. Furthermore, the researchers found a significantly increased risk of developing a symptomatic Omicron case compared to Delta for those who were two or more weeks past their second vaccine dose, and two or more weeks past their booster dose (for AstraZeneca and Pfizer vaccines). Depending on the estimates used for vaccine effectiveness

against symptomatic infection from the Delta variant, this translated into vaccine effectiveness estimates against symptomatic Omicron infection of between zero per cent and 20 per cent after two doses, and between 55 per cent and 80 per cent after a booster dose. Similar estimates were obtained using genotype data, albeit with greater uncertainty. Commenting on the study, Prof. Neil Ferguson from Imperial College London said: “This study provides further evidence of the very substantial extent to which Omicron can evade prior immunity given by both infection or vaccination. This level of immune evasion means that Omicron poses a major, imminent threat to public health.” Also, Prof Azra Ghani from Imperial College London said: “Quantifying reinfection risk and vaccine effectiveness against Omicron is essential for modelling the likely future trajectory of the Omicron wave and the potential impact of vaccination and other public health interventions.”

MONDAY DECEMBER 20, 2021 • T H I S D AY

T H I S D AY • MONDAY, DECEMBER 20, 2021

COMMENT

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

REDUCING THE COST OF GOVERNANCE

Nigeria must rescue itself from the fiscal cliff that it hangs, write Ejeviome Eloho Otobo and Oseloka H. Obaze

very so often, the calls for reducing the cost of governance in Nigeria, especially at the federal level, cast a spotlight on the spiraling recurrent component relative to the capital component of the federal fiscal expenditure. But also highlights the accretion of power and portfolios of the federal government. The recent call in a newly released report by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) underlined the fact that as a result of the expensive governance structure, less than 30 percent of the federal government revenue were allocated to capital projects. ICPC’s report validated our op-ed of 19 May, 2019, wherein we argued that “the prevailing high cost of governance in Nigeria is attributable to both structural and operational factors”. ICPC, by advocating the restructuring of Nigeria into six regions as a measure pivotal to reducing the cost of governance, buttressed the growing recognition of the linkages between cost of governance and a plethora of structural factors. Bold as this recommendation appears, it is one that has been long advocated by some statesmen, political leaders and policy analysts. In contemplating reduction of cost of governance in Nigeria, it is useful to frame the tasks in terms of three concentric circles. The first and innermost circle relates to the issues concerning the constitutional sources of the current high cost of governance. The second circle pertains to the federal bureaucracy, which includes the ministries, departments and agencies of the executive, legislative and judicial arms of the federal governments, several of whose functions are duplicative or overlap. The third circle pertains to the sub-national tiers of government – the state and the local governments. To grasp the constitutional sources of the high cost of governance in the inner most of the concentric circles, it helps to explain the constitutional constraints on Nigeria’s economic performance and, particularly, how such constraints have impeded the growth of revenue base of the federal and sub-national tiers of governments. Three main constraints are germane. First, while assigning exclusive statutory responsibility for management of natural resources to the federal government was intended to shore up its revenue; that choice has had the perverse effect of making the federal government overly dependent on oil and gas, while neglecting the development of other mineral resources and deepening corruption, with adverse consequences for revenue generation. Second, the inclusion of power supply infrastructure in the exclusive list in the constitution deprives the states of the opportunity to license, produce and regulate electric power in response to their needs, thus limiting their economic output, employment and revenue base. Third, the economic wherewithal of the states, including their performance and financial viability, has been impeded by granting the federal government multiple sources of revenue to the detriment of the states. In addition to natural resources, the federal government collects revenue from value added taxes and business registration. These two sources of revenue ought to reside in the states, to give states competitive advantage through offering different incentives. Also, the federalisation of so many standards across the country, especially, regarding wages, salaries and other public sector

WHATEVER REFORMS THAT ARE PROPOSED WOULD REQUIRE A PRUDENTIAL APPROACH, GUIDED BY A SET OF PRINCIPLES AND PRAGMATIC CONCERNS. THE PRINCIPLES WOULD INCLUDE ACKNOWLEDGING THAT THE COST OF GOVERNANCE IS ONE OF MANY CONSIDERATIONS, ALBEIT AN IMPORTANT ONE IN COPA REFORMS

entitlements, has imposed huge fiscal burden on the states. Constitutional, political and administrative (CoPA) reforms usually occur when the necessity of, or demand for, change is aligned with the political and financial incentives to do so. Nigeria has reached that critical juncture. The political incentives are evident from the growing sense that the current constitutional and political system is dysfunctional and not delivering optimally for a majority of Nigerians. The financial cost of administering Nigeria’s federal system has become prohibitive. The inertia in undertaking the needed reforms in the country is illustrated by the failure to act on successive constitutional and administrative reforms reports: the 2005 National Political Reform Conference; the 2012 Presidential Committee on Restructuring and Rationalising of Federal Governmental Parastatals, Commissions and Agencies; and the 2014 National Political Conference. This has raised questions on the possible fate of the envisaged report from the Deputy Senate President Ovie Omo-Agege-led Constitutional Review Committee. The lack of progress in implementing the wide-ranging proposals in previous reports is a cautionary pointer on what could be achieved in the current national context - in which even the use of the word “restructuring” evokes mixed reactions. Advisedly, we have elected to use “reforms”-a more conventional term. Whatever reforms that are proposed would require a prudential approach, guided by a set of principles and pragmatic concerns. The principles would include acknowledging that the cost of governance is one of many considerations, albeit an important one in CoPA reforms. The other principle is subsidiarity – the notion that public policy issues are best addressed at the level nearest to the people. This is the predicate for state policing. Other practical considerations subsist. The 2023 presidential and general elections campaign are afoot and forging consensus, which has proven elusive on CoPA reforms, would be even more difficult on the cusp of those elections. The proposal to restructure Nigeria into six zones –an idea afloat since the 2005 National Political Reforms Conference – is unlikely to command broad based elite consensus. There were heightened expectations that the recommendations of the APC Committee on Restructuring led by Governor El-Rufai, would help Nigerians to rally around a consensus on three low hanging fruits of CoPA reforms: resource control, state policing and abolition of the local governments. Inexplicably, nothing happened, even as such action would have fulfilled President Buhari’s campaign promise to “initiate action to amend the Nigerian Constitution with a view to devolving powers, duties and responsibilities to the states.” Such inaction reflects the enduring lack of elite consensus on most nation building reforms. There is no universally agreed optimal size of government. Still, when any tier of government fails persistently to meet its recurrent expenditure from its revenue, that is a warning signal to adopt fiscal prudence. Nigeria must rescue itself from the fiscal cliff that it hangs. This will require thoughtful reflection and much needed action on the nature, scope and sequencing of CoPA reforms. Otobo is a Non-Resident Senior Fellow at the Global Governance Institute, Brussels. Obaze is Managing Director and Chief Executive Ofﬁcer, Selonnes Consult in Awka

HEALTHIER ALTERNATIVES FOR CONSUMERS Lanre Odusile writes that businesses are making the required adjustments to meet consumers demand for healthier choices

onsumers are increasingly interested in living wellness-oriented lifestyles. This entails their being particularly conscious of what they put in their bodies-what they consume. This consciousness covers their choices of food, beverages, snacks, fruits and other consumables. These consumers are closely watching calorie intake and the nutritional elements in whatever they consume. Data from Symphony Retail (a retail analytics company) show that health conscious consumers now account for 25-30% of all grocery customers in the US and Europe. A study by Food Dive, another retail research firm, shows that 65% of consumers seek functional benefits from the foods and beverages they eat, with Omega-3 fatty acids, green tea, honey, coffee, and probiotics ranking among their top five preferred ingredients. Businesses and governments are also making the required adjustments to meet this increasing consumer demand for healthier choices. The International Journal of Behavioural Nutrition and Physical Activity reports that the legislation in the 2010 healthcare reform bill of the US requires chain restaurants to disclose calorie information on all menu forms. This was occasioned by increased enquiries by consumers of calorie and carbohydrate content of various meals served at restaurants. Companies have also risen to this challenge to satisfy their customers and also to partake in this ever expanding business category. For instance, health conscious consumers consider plant-based foods more healthy and the market for plant-based foods has grown by 11% in the last year to a value of $4.5billion, according to the Plant-Based Food

Association. The case is no different in Nigeria. The recent popularity and ubiquity of companies offering healthy snacks is a clear indicator of the growing number of health-conscious consumers in Nigeria. Companies in the food and beverage sector, for instance, have responded to the clamour for healthier options as people try to redress problems such as obesity (including child obesity), diabetes, high blood pressure, cardiovascular diseases and other ailments. This has resulted in offerings such as low sugar or zero sugar variants of some popular beverages, including carbonated drinks and fruit juices, malt drinks and even beers. These options provide alternatives to people who are consciously seeking out healthier food choices as well as others who, due to some existing health conditions, should refrain from taking the regular beverages but are unable to abstain. Also, adult consumers of combustible tobacco, particularly cigarettes, are opting for smoke-free tobacco products such as e-cigarettes, heated tobacco products (which heat up tobacco without burning), nicotine pouches, patches, and gums, and other reduced risk products. These consumers who choose to continue to enjoy tobacco products without the attendant risks from tobacco combustion, thereby mitigating any harm that would result from tobacco smoke inhalation are able to do so because of the availability of these alternative products. Dairy makers are also not left out. Certain people experience some measure of incompatibility, (sensitivity, allergy, intolerance, etc) to dairy products. Many people develop lactose intolerance as they grow into adulthood (lactose is a main component

of dairy milk). Non-dairy milk had long been an option for people with lactose intolerance who still desire to or are unable to remove milk from their diets, with such offerings as soya milk, almond milk, coconut milk, non-dairy coffee creamers and the likes. Now dairy milk manufacturers have broadened the options as they now offer different brands of lactose-free dairy milk as well as milk low in cholesterol. Interestingly, this healthier brand extension has elicited competition among popular milk brands. Again, more choices have been provided for consumers seeking healthier choices or who wish to avoid discomfort from regular offerings. Just as research has shown in the US and Europe, the demand for organic foods is also on the increase in Nigeria as health-conscious consumers demand healthier foods devoid of chemical or synthetic additives or preservatives. Nigerian consumers are also increasingly demanding fortified variants of regular food products in their quest for healthier foods. Why do these consumers choose these products? It is because they want to live healthier lives and also reduce any perceived harms that may derive from consuming the regular offerings. This practice is a form of harm reduction although in many quarters harm reduction is seen mostly from the context of drug or substance use and abuse. Harm reduction indeed should comprise the whole concept of improved health and wellness for all members of society. Harm reduction may be described as a strategy directed toward individuals or groups that aims to reduce the harms associated with certain behaviours. It also seeks to address the social and legal impacts associated with policies and laws.

However, more individuals are taking up the gauntlet. As they have become more aware of product science and options for healthier living or less risky options to regular brands, they are personally opting to make the switch to their preferred options. They are choosing healthier or less risky options for products that cut across dairy, soft drinks, beers and other alcoholic beverages, tobacco, confectionaries, coffee, etc., and the results can be quite significant in many cases. Current world number one tennis player, Novak Djokovic, famously transformed from a player who would often retire mid-match into arguably the greatest tennis player in the history of men’s tennis because he discovered- perhaps fortuitously- his gluten allergy and switched to a gluten-free diet. Gluten, which is present in wheat products, was found to be harmful to him and he chose to reduce the harm by opting for gluten-free alternatives, Harm reduction policies and practices or products are informed by a strong body of evidence, backed by science that shows product and interventions to be practical, feasible and effective in providing safer, healthier or less risky outcomes to consumers who switch to these products or adopt the lifestyle changes. However, for health-conscious consumers to be able to freely make the switch to their preferred alternatives or less risky options, it is imperative that the alternative products are readily available and that national and regional laws or policies do not inhibit the rights of consumers to access these alternatives. Odusile is a public health communication specialist

T H I S D AY • MONDAY, DECEMBER 20, 2021

EDITORIAL KADUNA’S FOUR-DAY WORKING WEEK There is need to exercise caution

he Kaduna State government recently commenced a four-day work week transition in a compressed arrangement that enables public employees, other than those in schools and health facilities, to work from Monday to Thursday and take Friday off. The state government stated that this new policy will allow workers to spend more time with their families, boost productivity and improve work life balance. While we have nothing against the idea, we nonetheless counsel that its beneﬁts and side effects be properly evaluated before it is rubber stamped as a policy. A four-day work week trial is not new having been adopted by many countries during the COVID-19 lockdown when workers showed interest in ﬂexible work arrangements rather than returning to status quo. Spain announced a voluntary nationwide three-year trial of a 32-hour work week, while New Zealand and Japan’s ONE DRAWBACK IS THAT annual economic policy guidelines IT CAN BE DIFFICULT each proposed a AS IT REQUIRES THE four-day work week SUPPORT OF THE RIGHT as a consideration. TECHNOLOGY AND In 2019, Microsoft WORKPLACE CULTURE of Japan had a three-day weekend trial. The trial was successful as Microsoft Japan reported 40 per cent productivity gains and other increases such as 23 per cent electricity savings. In like manner, the British Think Tank, Autonomy, and the Icelandic Association for Sustainable Democracy, carried out two trials in Iceland in 2019. Following the test, they reported a dramatic increase in wellbeing, in addition to no decline in productivity or service as well as improved work like balance and sheer ratings from employees after working hours were reduced to 35 hours a week without pay reduction for 2,500 workers. Afterwards, the Japanese government in 2021 drew an economic

guideline that proposed that countries should allow their workers to opt for a four-day work week as part of initiative aimed at improving work life balance in the country.

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

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

lso, a trial conducted by the US state of Utah for government employees showed a significant ecological impact from reducing the average work week from five to four days using a compressed work schedule. During the first 10 months, the project saved $1.8 million energy costs and a reduction of at least 6,000 metric tonnes of carbon dioxide emissions from closing the large office building on Friday. The report said that if employees’ commutes were also included, Utah estimated that it could save 12,000 metric tonnes of CO2, the equivalent of removing 2,300 cars off the road for one year, simply by working one day less a week. However, despite these benefits, a four-day work week has its downside that calls for caution before becoming the new order in our climes. One drawback is that it can be difficult as it requires the support of the right technology and workplace culture. Another disadvantage is that it leads to less work overall and makes vital and urgent services unavailable for customers. There is also an argument that the Kaduna State government may unconsciously be granting its workers a license to procreate and worsen the country’s over-population burden. The Christian Association of Nigeria (CAN) has urged Kaduna workers not to celebrate the introduction of a four-day working week by the state government until they are convinced that there is no hidden agenda. Whatever may be the merit of the idea, our greatest concern is that there are far more pressing challenges in the state than that of how many idle hours are available to workers in the public sector who are not known to be very productive. The sub-national authority in Kaduna should therefore be more concerned about improving security in the state, rather than dwelling on a policy that may not necessarily advance the interest of the people.

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

Letters to the Editor

A FOUR-DAY WORKWEEK?

ound learning is the wellspring of sound teaching, and it appears that out of Kaduna State, Nigeria`s ‘Center of learning’, the country is witnessing another novelty from a government that hugs the headlines more for its eccentricities. In a statement at the end of last month from the Sir Kashim Ibrahim House, signed by the Special Adviser to the Kaduna State Governor, Media and Communication, Muyiwa Adekeye, a four-day workweek was announced in the State to take effect from December 1, 2021. The statement said that the measure was designed to help boost productivity, improve work-life balance and enable workers to have more time for their families, for rest and for agriculture. The statement also noted that the measure would help reflect lessons learnt from managing the Covid-19 pandemic which required significant relaxations of old working traditions and the ascendance of virtual and remote working arrangements. The implementation of the transitional arrangements was to begin on December 1, 2021. In a country as quick to grab every western oddity like the accelerating tongue of a chameleon capturing crickets, this is hardly surprising. Of course, the four- day workweek is not original to Kaduna State. Such feats of originality would appear beyond the current government in spite of its elaborate grandstanding. Its provenance is western. It has been tested in places that have known nothing about banditry and poor work ethic for many years. It has been the rage in a couple of

countries, mostly western. Undoubtedly, the Covid-19 pandemic also pushed considerers to make up their indecisive minds. Research has shown that when properly implemented, four-day workweeks increase employee satisfaction, company commitment and team work while decreasing stress levels. It has also been shown not to affect productivity or output. There have been trials in New Zealand, Japan, Iceland, the United States and the United Kingdom. But is Nigeria ready? More specifically, is Nigeria`s `Center of Learning’ ready? Is Kaduna State and its troubled public service ready for such a quantum leap? Does it have on ground the facilities without which productive remote work would remain a mirage at best? An Igbo adage holds that what is found in the home of eneke is also found in the home of esengene, its mother. Thus, what is the norm in Nigeria`s poor and ponderous public service in Abuja and elsewhere is invariably the case in Kaduna. That being the case, can any state in the country claim to be ready to ring changes as seismic as the four-day workweek? In Nigeria, in spite of the generally poor work ethic of many Nigerian employees, there is a sharply distillable dichotomy between how seriously work is approached in government employment and private employment. Because government employment comes with job security, reasonably stable salaries and less than stringent supervision, it provides a petri-dish for Nigeria`s chilling experiment with corruption, nepotism and bureaucracy. It explains the many ghost workers that do nothing

but weasel their way into the payrolls of government. That is a far cry from the cut-throat world of private employment when many employees are just one mistake away from getting the sack from their broke employers. Thus, it is common knowledge that since the Covid-19 pandemicrelated lockdown was lifted, many government employees are yet to resume work. Many of them breeze in weekly and briefly before returning to their sidelines. Many pick and choose when to come to work and when they make it to work at all, they close way before the day gets old. The situation in Kaduna State is not different, and it is into such a maelstrom of appalling work ethic that the Kaduna State government has introduced a four-day workweek that even better run countries, states and organizations are reluctant to fully embrace. It is only fools that rush in where angels fear to tread. It begs the question whether there has been any trial whatsoever of the four-day workweek in Kaduna State. What research underpins it? What empirical evidence undergirds the argument that it will boost already sagging productivity in Kaduna State, improve work-life balance and enable workers to have more time for rest, for their families and agriculture? Already, given the harsh religious sensibilities of the State, and with 2023 just around the corner, many have interpreted the handwriting on the wall as being markedly different from what is scrawled on the whiteboard of the government in Nigeria`s `Center of Learning’. Kene Obiezu, keneobiezu@gmail.com

MONDAY DECEMBER 20, 2021 • T H I S D AY

T H I S D AY ˾ THURSDAY DECEMBER 20, 2021

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

M O N D AY D I S C O U R S E

Osinbajo, Asiwaju: The Race to Make or Mar APC As campaign for the 2023 presidential election gathers momentum, Emameh Gabriel assesses the intrigues and prospects that could make or mar the ruling All Progressives Congress

Buhari

s Nigeria heads into the new year in few days time, it is expected to witness increased activities in the political space as politicians scheme for position and advantage ahead of the 2023 general elections. Even with the avalanche of crisis rocking the party across its state chapters, the ruling All Progressives Congress (APC) seems set to pick its presidential flag bearer from the south to replace the northern incumbent President Muhammadu Buhari. Dominant among the party frontline aspirants is Vice President Yemi Osinbajo and his benefactor, Bola Ahmed Tinubu. Although there are other big names from the south who are expected to join the race soon, this is depends on how clear the coast looks for them. Meanwhile, Osinbajo and Tinubu have dominated the media space in the last few months. The success of the APC in 2023 would be contigend upon how the duo play their cards and who the party might decide to field between the two. The deluge of billboards and many declarations of support from the growing number of support groups that have sprung up in anticipation of the 2023 general election clearly suggest that the national leader of the APC and Vice President Yemi Osinbajo are chief the contenders for the highest office in the land in next year ’s presidential election. While the leading organization rooting for Tinubu is the Southwest Agenda (SWAGA). The two others also pushing that of his beloved protege are the Progressive Consolidation Group (PCG) and Businessmen For Osinbajo (BFO). These groups have been going round the country to solicit key stakeholders for their principals. While the BFO has started the mobilisation of the business community in the country, the PCG are consolidating through consultation. While in the APC where they belong it is not yet Uhuru as both or any of them would have to slug it out among a growing list of contenders including former Rivers State Governor and current Minister of Transportation, Rotimi Amaechi, Governor Dave Umahi, Governor Kayode Fayemi, Senator Orji Uzor Kalu, Senator Rochas Okorocha and who knows whoever in the murky sea of Nigerian politics of caucuses.

Osinbajo

Fayemi

By virtue of his political antecedent, the former Lagos State Governor is the man leading the pack as he was instrumental to the formation and ascendancy of the APC in 2015, he was supposed to be the nascent party’s Vice Presidential candidate at the election but was prevailed upon to shelve his ambition, citing the impracticability of a Muslim-Muslim ticket. His stepping aside later proved to be to be the providence that brought Osinbajo, a very loyal protege of his and Attorney General and Commissioner for Justice when he was governor of Lagos to the spot in 2015 after the emergence of Buhari as APC presidential flag bearer. And seven years down the line, Osinbajo has certainly not disappointed him, for he has been loyal to his mentor, loyal to President Buhari and diligent in his work much to the public approbation. It is the successes of the VP that has endeared him with all who have crossed his path, hence the clamour in certain quarters for him to succeed incumbent President Buhari at the end of his term. But with Tinubu’s body language and recent, it is certain that the duo would definitely lock horns as times draw closer. Governors of Ruling Party Divided Governors elected on the platform of the ruling APC seem to be divided over who can best represent the party’s ticket at the 2023 presidential contest. There are those who believe the national leader should possess automatic right to the ticket given his role

in the eventual political triumph of the new party particularly if the prevailing intrigues jolts the ticket to the Southwest, they include Kano Governor Abdullahi Ganduje, Governor Simon Lalong of Plateau state, Governor Babagana Zulum/ Kashim Shettima, Governor Akeredolu of Osun State, Governor Bello Masari. While there are those who feel that zoning should not be a patriarchal game. They contend that merit and youthfulness should play more role in leadership selection, particularly at such challenging times of the country. As such, the Vice President is a good candidate for plum job. They include Governor Nasir Elrufai of Kaduna State, Governor Kayode Fayemi of Ekiti State and Governor Sule Abdullahi of Nasarawa state. There are also influential senators and members of the House of Representatives, who are said to be working behind the scene for the Vice President. Recall that when the PCG in September paid a visit to Governor Sule Abdullahi of Nasarawa state, he described Yemi Osinbajo as a sellable presidential aspirant if he chooses to contest the Presidential elections in 2023. “Our concern is how we will sustain the party beyond President Buhari. So, if you come up with idea, you know you will not only get my attention but the attention of every progressive governor in the country. “So, if you are going about to sell this man, I want you to know that not every product is sellable but Osinbajo is sellable”,

The President and his Vice President have maintained a seeming neutral and cordial relationship. However, in the relationship between the two men, there is a strangeness, since the VP is a lieutenant of Tinubu and a representative of the ACN Bloc in the APC merger. This may also be a factor in the way their presidential bid is being viewed by the president and some stalwarts in the fold

Amaechi

Governor Sule had told the group. For those who are aligned to the views of Nasarawa governor, Tinubu candidacy will come with many baggage, some of which might affect the party’s chances in the next general election. Other governors in the fold have remained indifferent in this dichotomy and sometimes even opposed to the Southwestern cause. Observers have opined that the argument that may move the undecided governors into any of the bandwagons to the marketability and popular acceptability of the eventual flag bearer is Osinbajo’s seeming credibility that could galvanize popular cross sectional support as Goodluck Jonathan’s candidacy did in 2011, just as Tinubu’s marketability is only hinged on his extensive political machinery might harm the party. While the PDP has gladiators that can match Tinubu’s political status, they do not seem to have a gladiator or leading potential candidate that can match Osinbajo’s qualities of intellectuality, loyalty and integrity, and many of the governors in the APC know it. In clearer terms, they have said while Tinubu remains a huge asset to the ruling APC but he is at the same time somewhat a liability to the party for several reasons. Meanwhile, the Director General of Voice of Nigeria (VON), who is also foundation member of the APC, Mr Osita Okechukwu, during the weekend called on Ahmed Tinubu, to shelve his 2023 presidential ambition and support a young person. This came just few days after Tinubu told newsmen in Abuja, that he would not turn down request by some Nigerians to run for presidency. Tinubu had explained to newsmen that he was still consulting critical stakeholders in the polity and well wishers and would make his intention public soon. Okechukwu had in a statement on Sunday advised the APC national leader to pick a young presidential aspirant from the southern part of the country and support him. He said: “If one is consulted by our national leader, His Excellency, Asiwaju Bola Ahmed Tinubu, on whether he should run or not for the exalted office of the President of Nigeria in 2023, my candid advice will be that he should use his abundant Almighty God’s endowment to unite the APC and unite the South and by extension

T H I S D AY ˾ THURSDAY DECEMBER 20, 2021

MONDAY DISCOURSE

Akeredolu

our beloved country, by backing a candidate from the southeast”. The VON DG explained that supporting a young aspirant from the south would unite the region, adding that some northerners feel reluctant to support the south because of their lack of unity, just as he said it would be statesmanlike for Tinubu to be a Kingmaker than throwing his hat into the ring. In a chat with THISDAY, the national convener of Businessmen For Osinbajo, Dr Fashogbon Oluwatayo Solomon said 2023 would be historical for the country’s political and democratic development. He said: “The peculiarity of this election is the fact that Nigeria is in a urgent need of a leader with economic, financial and monetary proficiency and competence to address the numerous challenges facing the country. The Infrastructural development going on across the country by the present administration needs to be sustained. “With the fragile nature of our present nationhood threatened by separatist across different regions, Prof. Yemi Osinbajo has proven overtime to be a unifier with the capacity to bring back our unity in diversity and strengthened our nationhood. Dr. Fashongbo believes that the love and acceptance enjoyed by the Vice President from “every region today is the reason why no one can fault the fact that he remains the best candidate for the 2023 presidential election. “Above all, Nigeria needs a hardworking, dedicated and God-fearing leader who understands the challenges and needs of her people and also the political will to address them. This Nigerians have identified in Prof. Yemi Osinbajo and thus ready to give him their electoral mandate come 2023. Meanwhile, a chieftain of the ruling APC and member of the 2018 APC National Convention Committee and a member of the Screening Sub Committee, Elton Onwu, has advised the party to consider 2023 as payback time to reward Tinubu for his loyalty to and consistency with the party. Mr. Onwu who was reacting to Osita’s statement calling on Tinubu to shelve his presidential ambition, asked the VON DG to explain why should Tinubu drop his ambition? In a chat with THISDAY, Onwu also asked: “if a man has laboured to build a house, should he abandon it to sleep in the open just to satisfy a visitor who didn’t value his efforts when the building was coming up? “Emerging from the ashes of the 2003 general elections as the only opposition party Governor in the South West, the rest is history as how then Governor Tinubu fought the then President Obasanjo and his ruling party to a standstill and reclaimed the remaining 5 States of the South West back to the Progressive Politics Family”, he said. He explained that Tinubu is the

Ganduje

Umahi

only master of the art the APC must rely on to remain in power beyond 2023. “The APC as a party is blessed; in every term of the definition, to have Asiwaju Bola Ahmed Tinubu as a National Leader and by the Grace of God, the frontline Presidential Aspirant we are hoping for as stakeholders of the Party. “Tinubu is a proven bridge builder, a fine and astute harvester of human resources, A political enigma that has mastered the art in unprecedented details and a mentor to several political titans across the economic and political divides of the country. “APC having him as her Presidential Candidate will no doubt reap from his abundance of goodwill amongst the grassroots and Elites Leadership across Party Lines and ethnographic/ religious diversity of Nigeria”, Onwu explained. Buhari’s Indifference Despite the fact that preparations for the 2023 general elections are in top gear and controversies in his party have reached a crescendo, President Buhari seems not to possess a spectre on how his succession would look like and has not publicly or privately upheld or shown favourability to any of the leading contenders for his party’s ticket including his loyal Vice President Yemi Osinbajo or the benevolent national leader of his party. Since his emergence to power in 2015, Buhari has skillfully navigated the political infighting and wranglings in his party, only to intervene when absolutely necessary. One of such incidents was the controversial removal of Adams Oshiomhole as the national chairman of the APC in June 2020. Oshiomhole was one of Tinubu’s eyes in the party. His removal eventually paved the way for the control of the party by forces opposed to Tinubu’s presidential bid. In all of these, the President and his Vice President have

maintained a seeming neutral and cordial relationship. However, in the relationship between the two men, there is a strangeness, since the VP is a lieutenant of Tinubu and a representative of the ACN Bloc in the APC merger. This may also be a factor in the way their presidential bid is being viewed by the president and some stalwarts in the fold. During the President’s recent visit to Lagos for the launch of the autobiography of former interim chairman of the APC, Chief Bisi Akande, in which he was the special guest of honor, it was speculated in some quarters that the book was written to induce his support Tinubu’s presidential bid, perhaps in view of his apparent lukewarmness and indifference. In his speech on the fateful day, he skillfully evaded to react immediately or subsequently on some of the issues raised in the book about the agreements that took place at the formation of APC or on the eve of the 2015 elections. As if to further underline his apparent ambiguity, few days later he was quoted as saying that he could not wait for 2023 to return to his farm in Daura. Osinbajo’s Dilemma The renowned Professor of Law on a joint ticket with a former military general was a big motivation for those who were disenchanted with the administration of Goodluck Jonathan and propelled APC to power in 2015. However, Osinbajo was not the usual grassroot politician, lacking the political structure, he rode to the Vice Presidency on the Goodwill of the APC national leader, Bola Tinubu. But being in power, the former academician has learnt the art of politics through his participations and cultivated the required network as he has come to be loved and admired by many sections of Nigerians who considered his intellectual dexterity and gentle manners as what is needed in a forward looking leader that can

While the PDP has gladiators that can match Tinubu’s political status, they do not seem to have a gladiator or leading potential candidate that can match Osinbajo’s qualities of intellectuality, loyalty and integrity, and many of the governors in the APC know it. In clearer terms, they have said while Tinubu remains a huge asset to the ruling APC but he is at the same time somewhat a liability to the party for several reasons

el-Rufai

bring an end to Nigeria’s intractable and persistent problems. But the outspoken Pastor of Redeemed Christian Church of God is strongly religious and loyal as can be seen through the harmonious relationship with the president much to the admiration of the northerners who value trust and loyalty. This sentiment can be seen in the words of the Emir of Daura, who speaking on Saturday 18th December during the Turbaning ceremony of the President’s son Yusuf Buhari as the Talban Daura, in Katsina state showered praises on Osinbajo. Osinbajo graced the occasion while is principal was on a diplomatic visit to Turkey. Speaking of the Vice President, the Emir of Daura said “we extend our appreciation to His Excellency, the representative of the president. He said the Osinbajo is a noble man who keeps his promises and a trust worthy person who has so much patience and knows what to do at any given time.” “He is a very good man, he is my favorite person but I always forget how to pronounce his name properly. He is a very nice person,” the Emir said. Osinbajo has always strived to be tactfully at par with his principal regardless of where the short term political wind is blowing. Even when speculations were rife on his alleged presidential aspiration, he had refused to be drawn into it, instead saying he was focused on helping the president succeed. Despite the fact that groups have been beating his drum, he has not being a visible face or voice, covertly or overtly politicking for the 2023 ticket, especially the way his political godfather is doing. With many observers believing that he has not been able to bring his best to bear because of the intrigues of politics, particularly the intrigues surrounding his emergence on the national stage and that if given the opportunity he would wield power better, Osinbajo support base has continued to increase across regions and political divides, especially among the middle and educated classes and the youths who desire a paradigm shift in governance. Despite his simple demeanor and occasion pronouncements on national issues, he seems not to have for once lost sight of the extraordinary, almost divine manner of his political ascendancy. For now it is difficult to know what is next move but with the growing clamour for him to contest particularly from Nigerians disaffected with the political system and the growing intrigue in the APC nothing is off the table. But the question remains: with Osinbajo’s growing popularity and acceptance across the country’s political divides, and with projections by political watches suggesting that he is APC’s best best and a nightmare to the main opposition PDP, will Tinubu shelve his ambition to give his party less work to do ahead of 2023?

T H I S D AY ˾ THURSDAY DECEMBER 20, 2021

FEATURES

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

16 Days of Activism against SGBV, the Journey So Far Nigeria recently joined the rest of the world to mark the '16 Days of Activism against Sexual and Gender-based Violence 2021'. This year, the ROLAC Programme of the British Council was one of the organisations that drove the advocacy with Sexual Assaults Referral Centres, Mock Courts and Counselling Sessions for victims of SGBV, amongst other activities. Michael Olugbode reports on the journey so far

nnually, the '16 Days of Activism against Sexual and Gender-based Violence 2021 is usually held from November 25 to December 10 every year. For many non-governmetal, it affords them the opportunity to shine the spotlight on a cause dear to their heart. This year was not different for the ROLAC Programme of the British Council, one of the organisations driving the advocacy with Sexual Assaults Referral (SARC), as commemorated the occasion with a get together to ruminate on the journey so far. Background The United Nations defines violence against women as "any act of gender-based violence that results in, or is likely to result in, physical, sexual, or mental harm or suffering to women, including threats of such acts, coercion or arbitrary deprivation of liberty, whether occurring in public or private life." The global body also described intimate partner violence as a behaviour by an intimate partner or ex-partner that causes physical, sexual or psychological harm, including physical aggression, sexual coercion, psychological abuse and controlling behaviour. It further defined sexual violence as "any sexual act, attempt to obtain a sexual act, or other act directed against a person’s sexuality using coercion, by any person regardless of their relationship to the victim, in any setting. It includes rape, defined as the physically forced or otherwise coerced penetration of the vulva or anus with a penis, other body part or object, attempted rape, unwanted sexual touching and other non-contact forms". Statistics The statistics are alarming as over a quarter of women aged 15-49 years who have been in a relationship have been subjected to physical and/or sexual violence by their intimate partner at least once in their lifetime (since age 15). The prevalence estimates of lifetime intimate partner violence range from 20 per cent in the Western Pacific, 22 per cent in high-income countries and Europe and 25 per centin the WHO Regions of the Americas to 33 per cent in the WHO African region, 31 per cent in the WHO Eastern Mediterranean region, and 33 per cent in the WHO South-East Asia region. Globally, as many as 38 per cent of all murders of women are committed by intimate partners. In addition to intimate partner violence, globally six per cent of women report having been sexually assaulted by someone other than a partner, although data for non-partner sexual violence are more limited. Intimate partner and sexual violence are mostly perpetrated by men against women. Grim Figure Ampliﬁed by COVID-19 Lockdown This grim statistic was amplified during the stay-at-home lockdowns imposed as one of the measures to curb the COVID-19 pandemic. Its social and economic impacts increased the exposure of women to abusive partners and known risk factors while limiting their access to services. Also related is the situations of humanitarian crises and displacement, which often exacerbate existing violence, such as by intimate partners, as well as non-partner sexual violence, and may also lead to new forms of violence against women. These are the issues that the '16 Days of Activism against SGBV' set aside annually by the United Nations and supported by governments and non-governmental organisations across the world aims to eliminate. 16 Days of Activism against SGBV The '16 Days of Activism Gender-Based Violence is an international campaign to challenge violence against women and girls. The campaign runs every year from 25 November, the International Day for the Elimination of Violence against Women, to 10 December, Human Rights Day. It was initiated in 1991 by the first Women's Global Leadership Institute, held by the Center for Women’s Global Leadership at Rutgers University. The dates of the campaign align with significant dates, including: November 25– International Day for the Elimination

Poor Representation However, despite the remarkable expansion and spread of the SARC initiative in Nigeria and stronger focus nationwide on the provision of comprehensive medical and counselling services for survivors, the number of SGBV cases reported to SARCs is still a poor representation of the scale of sexual assault in the country. The number of SGBV cases that are prosecuted are very few compared to the number of reports. As a result of this,, over the years there has been a growing call for the establishment of specialised courts for SGBV in Nigeria to address delays in the justice process.

Panel at the 16 Days of Activism organised by Rolac and British Council of Violence against Women; November 29– International Women Human Rights Defenders Day; December 1– World AIDS Day; December 5– International Volunteer Day for Economic and Social Development; December 6–marks the anniversary of the Montreal Massacre, observed in Canada as the National Day of Remembrance and Action on Violence Against Women; and December 10– International Human Rights Day and the anniversary of the Universal Declaration of Human Rights. Since 1991, more than 6,000 organisations from approximately 187 countries have participated in the campaign. The theme for 2021 “Orange the World: End Violence Against Women Now', RoLAC Programme of the British Council, European Union, United Nations, Ministries of Justice and Women Affairs amongst other activities, are some of the organisations actively engaged in this advocacy. This 2021 marked the 26 years postBeijing Declaration and Platform for Action, the post-pandemic year is still in shock on the fragility in several systems ranging from the health sector to the economy; and more importantly, the pandemic affirmed the country’s distance from a world where women’s rights are guaranteed and more women excelling as equal partners as the pandemic exposed a worrying increase in incidents of sexual and gender-based violence. Struggle for Nigeria In Nigeria, the struggle to eliminate or perhaps reduce the incidences of violence against persons especially women has been raging since 2001, from the first convening of the campaign in Feb.2001 of the then Violent Against Women Bill process (Mahdi, 2019), to the eventually signed into law of the bill: Violence Against Persons Prohibition Act, 2015. It is, however, a sad narrative that so far not much has changed despite great efforts by the government and other stakeholders--even the Violence Against Persons Prohibition(VAPP) Act is yet to make the expected change as cases of violence have not been substantially reduced. According to UNWomen nearly one in three women in the country has been abused in their lifetime. In times

of crises, the numbers rise, as seen during the COVID-19 pandemic and recent humanitarian crises, conflicts and climate disasters. This point was highlighted by the Programme Specialist, Spotlight Initiative, UN Women Nigeria, Ms Tosin Akiba, who said in 2020, Nigeria recorded 11,200 rape cases including children raped to death while lamenting that the rape cases were underreported due to stigma, victim-blaming, poor access to justice for survivors and slow progress from the domestication of laws to implementation. Akiba further revealed that in Nigeria: “Lifetime Physical and/or Sexual Intimate Partner Violence is 17.4 per cent; physical and/or Sexual Intimate Partner Violence in the last 12 months 11 per cent; lifetime Non-Partner Sexual Violence, 1.5 per cent; child marriage 43.5 per cent and Female Genital Mutilation/ Cutting, 18.4 per cent.” In the same vein, the Programme Officer, RoLAC programme of the British Council, Ms Hannatu Essien, at a pre-event briefing marking the 16 Days of Activism, stated that a total of about 23,207 survivors of sexual assault have been reported in eight years, specifically between July 2013 when the first Sexual Assault Referral Centre (SARC) was established. Essien while explaining that: “the RoLAC Programme is collaborating with the Federal Ministry of Justice, FCT Judiciary and the National Agency for Prohibition of Trafficking in Persons on The Survivor Project (NAPTIP), in commemoration of the '16 Days of Activism 2021', said: "Since the establishment of the first Sexual Assault Referral Centre in Nigeria in 2013 and the establishment of the 31 SARCs that have followed, the SARCs have continued to provide free immediate emergency medical treatment, counselling and follow up support to survivors of rape and sexual assault, including support for their engagement with the legal system". According to her, the SARCs Network has in just eight years, grown from a single centre in Lagos to 32 SARCs across 19 states in Nigeria; assisting 23,207 survivors of sexual assault combined, between July 2013 and September 2021, over 70 per cent of whom have been children under the age of 18 years.

Since the establishment of the first Sexual Assault Referral Centre in Nigeria in 2013 and the establishment of the 31 SARCs that have followed, the SARCs have continued to provide free immediate emergency medical treatment, counselling and follow up support to survivors of rape and sexual assault

Forms of Violence, Root Causes and Consequences Reports by international bodies like the UN and World Health Organisation (WHO) among others have analysed and categorised the different forms of Violence Against Women (VAW) occurring through all stages of life from birth to old age. There are also rising cases of violence against men and boys. The reports have shown some of the causes of violence, especially against women to include: Risky acts by both intimate and sexual partners (perpetration of sexual violence and experience of sexual violence); a history of exposure to child maltreatment (perpetration and experience); witnessing family violence (perpetration and experience); antisocial personality disorder (perpetration); harmful use of alcohol (perpetration and experience); harmful masculine behaviour, including having multiple partners or attitudes that condone violence (perpetration); community norms that privilege or ascribe higher status to men and lower status to women; low levels of women’s access to paid employment; and low level of gender equality (discriminatory laws, etc.). Other causes include the history of exposure to violence; marital discord and dissatisfaction; difficulties in communicating between partners; male controlling behaviours towards their partners; beliefs in family honour and sexual purity; ideologies of male sexual entitlement; and weak legal sanctions for sexual violence. Gender inequality and norms on the acceptability of violence against women are a root cause of violence against women. Consequences have also been identified, which include serious short- and long-term physical, mental, sexual and reproductive health problems for women. They also affect their children’s health and wellbeing. This violence leads to high social and economic costs for women, their families and societies. According to the research, violence against women fits into several broad categories including violence carried out by individuals as well as states. Some of the forms of violence perpetrated by individuals are rape; domestic violence; sexual harassment; acid throwing; reproductive coercion; female infanticide; parental sex selection; obstetric violence; online gender-based violence, and mob violence. They also include harmful customary or traditional practices such as honour killings; dowry violence; female genital mutilation; marriage by abduction, and forced marriage. There have also been identified some forms of violence which may be perpetrated or condoned by the government, such as war rape; sexual slavery during conflict; forced sterilisation; forces abortion; violence by police and authoritative personnel; stoning and flogging. Unfortunately, the increase in the occurrence of violence against women and girls in Nigeria amongst other factors has been linked to the absence of leadership and the voices of women and girls at all levels. This is not unconnected with the lack of cohesiveness in their ranks to mobilise and network as forerunners in demanding women and girls rights despite their population advantage and developmental contributions. One major factor stems from the fact that victims rarely get Justice as the judicial system is not absent of the Nigerian factor of corruption and slow process creating more trauma for the victim, and most times and to a large extent deter

T H I S D AY ˾ THURSDAY DECEMBER 20, 2021

FEATURES some from walking the long walk to Justice. Advocacy for Special Courts As part of the 16 Days of Activism, court scenarios on cases bordering on Gender-Based Violence were organised by the Federal Ministry of Justice, FCT High Court and NAPTIP in collaboration with the EU through the ROLAC Programme. This, according to the advocates, will enable speedy prosecution of the case, help victims find closure and deter others who might want to toe the line of violence. Speaking on this at the 7th Conference on Sexual Assault Referral Centres (SARCs) in Nigeria as part of the events marking the ’16 Days of Activism against SGBV 2021 , the National Programme Manager, RoLAC, Mr. Danladi Plang, amongst other stakeholders, called for the establishment of separate courts to prosecute the cases of SGBV. The plan emphasised the need for critical actors to collaborate, in the fight as well as provide a platform for experts to identify policy options, legal innovations, best practices, processes for the establishment, and modalities for operation. He said that “for many years, there have been calls for the prosecution of cases of SGBV, in separate courts, it is for this reason RoLAC is campaigning this year for the separate judicial process. “The main objective of this conference is to identify policy options, recommendations and action for the efficient disposal of rights of victims and mobilise relevant actors.” Speaking further, Plang stated that, from last year a lot has happened as most states have domesticated the VAPP law, and now have more SARC, adding, about 32 have been created with the latest being Kebbi state. “There is a serious consensus that the prosecution of offenders is key even as the cases reported are very few, there is a disproportionately higher number of victims to the perpetrators, and of course they deserve Justice, as different as they may be," he said. Most recently, this call was echoed by the Attorney-General of the Federation and Minister for Justice, Abubakar Malami, (SAN), who stressed the inadequacies in the adjudication of these cases in the present system. Malami’s call followed the inauguration in 2020 by President Muhammadu Buhari, of an inter-ministerial Management committee on eradication of sexual and gender-based violence, a demonstration of the government’s renewed commitment to comprehensively address SGBV and protect victims. Malami, while speaking at the Mock trial, also called for the training of investigators and prosecutors as specialists in the handling of SGBV cases in Nigeria. He noted that it is imperative to train these first responders in the access to justice spectrum on evidence collection and storage, intelligence gathering and reporting, evidence analysis and chain of custody preservation stressing the need for the establishment of more SARCs across the country. He said: “The absence of SARCs is is at the very core of my ministerial pursuit and I am seriously working on an Access to Justice based SARCs, which will evolve in due course."This is a holistic vehicle that provides an all-inclusive integrated service amongst MDAs to the survivors of SGBV". it is, therefore, he noted, critical, fundamental and essential in-service delivery to survivors. According to the minister, access to justice based SARC will include improved health care services that would address the medical, physical, mental and psychosocial consequences of SGBV to Survivors. While noting that, there is also a need to train our Judges on the handling of SGBV cases especially about victim and witness protection and the management of evidence gathered due to the sensitive nature of these cases. This was the essence of the moot court, he stressed, noting that the idea of the mock tribunal was to demonstrate the realities encountered in the criminal justice system when it comes to victims and survivors of SGBV, who are in search of justice, this is the process of both perpetrators having fair trial and victims getting justice. As such the judges, investigators and prosecutors examined and cross-examined cases of domestic violence, rape amongst others. Malami commended all the Judges, lawyers and stakeholders who took out time to participate in the Moot Court and assure everyone present of his dedication to the fight against SGBV. In the same vein, Justice Ibrahim Muhammad, Chief Justice of the Federation reiterated the need for court but also advised that "in creating a special court we need to have trained judges and this is a lot of work. This is an issue that takes more than talking, things must be in place, when we have everything set then we can start talking of special courts. Before we go advocating for special courts, Muhammad said, we need to put in place all other structures that will make this succeed. He stressed that rape is a serious issue, the bottom line is that it should not even get there, the rules of engagement must change. “Rural areas need to have a gender desk of institutions with specialised personnel to attend

Participants at the event to vulnerable victims, the first contact for victims needs to be able to bring them out of despair,” he said. Stiffer Punishment for SGBV Offenders On her part, the Minister of Women Affairs and Social Development, Dame Pauline Tallen, called for stiffer punishment to SGBV offenders in the country to deter others. Tallen who described the rising cases of SGBV in Nigeria, called for action while supporting the laws enacted by Kaduna State Government, which prescribed castration as a punishment to sexual assault offenders. According to her, “two or more of those sexual offenders should be castrated publicly” to serve as a deterrence to others. Quoting statistics, Tallen disclosed that, the National Situation Room and Dashboard set up in the Federal Ministry of Women Affairs under the UN/EU Spotlight initiative targeting 6 States supported by UNDP as of November 24, 2021, totalled number of cases reported to be 5,204 of which 3,125 survivors are demanding justice and only 33 perpetrators have so far been convicted, representing 0.51 per cent. The fatal cases are 160, closed cases 231, while open cases (cases pending in court) are 972. The minister noted that the trend is unacceptable, and efforts will be intensified with the Federal Ministry of Justice to ensure justice for victims and survivors. She said: “The present administration under the leadership of President Muhammadu Buhari has demonstrated high commitment not only to eliminate harmful practices against women and girls; but also, to curb the rampaging impact of COVID-19 pandemic and other SGBV. "In the light of this, a significant amount in our 2022 budget has been dedicated to fighting Gender BasedViolence nationwide. Mr. President in his 2022 Budget Statement to the National Assembly has gone a step further to direct that Ministries, Departments and Agencies must devote some amount in their budgets to address gender-related issues” She employed all relevant Ministries to engage, amplify advocacy to the States and rural communities for further enlightenment in this regard. Similarly, the Country Representative of UNWomen, Ms Comfort Lamptey, emphasised the need to join forces to create awareness and education in eliminating and ending the scourge of Gender-Based Violence from the community and our nations. Lamptey noted that preventive methods are critical to ending GBV. It requires a commitment from all of us to work against the harmful practice that sustains gender inequality. “More men need to step up to form forces with some right advocates, through the UNWomen joint spotlight initiative to engage stakeholders in the community, traditional rulers to address some of the patriarchal norms that encourage gender inequality. “Provide a comprehensive support system that will help survivor centred services which include police, Justice, and

social sectors, As well as sufficient financing for women, are essential ingredients to the fight against GBV. “The past two years in Nigeria have experienced progress on the domestication of the VAPP act to the law since it was passed in 2015, with a total of 30 states out of 36in Nigeria, this commendable feat was achieved by the declaration of a state of emergency on GBV by the Nigerian Governor forum in 2020. “We need to ensure that the federal and state governments ensure that GBV survivors have full access to justice, with reliable prosecution of perpetrators. “Put women at the centre of responses Including the policy situation solutions, Strengthen services including Justice for women who experience violence and invest in prevention efforts to end Violence Against Women and Girls,” she stressed. In the same vein, Ambassador, Delegation of the European Union to Nigeria and ECOWAS, Samuela Isopi identified impunity as fuel for GBV. This is not far fetched as most times perpetrators become repeat offenders as they feel they can get away with the act. According to her, “this type of violence remains largely unreported due to the stigma and shame surrounding it, and the lack of confidence in authorities. As a result, many perpetrators remain free and unpunished. Impunity contributes to fuel GBV. “Impunity contributes to fuel SGBV, if we do not stop impunity, we may not be able to stop GBV, the government has a critical role in maintaining and sustaining of the separate court for it to succeed, the government needs to take ownership of this court by allocating resources to address the need of the people,” she said. Chairperson of the SARC in Nigeria, Prof. Joy Ezeilo, explained that some of these things keep going on because of low accountability and low prosecution of this case. She noted that the evidence and sometimes little technicalities can make a very viable case pathetic not to lead to a conviction. "That is the problem we are trying to convey best practice about prosecution and what changes the law have brought, like the VAPP Law, the NAPTIP ACT. They brought in innovations, which connoted gender offence is not just committed against a woman, with this you see the good, the bad and the ugly. "If for example, our population is 100million, at least 30milliin women and girls are victims of gender-based violence, it is really serious when we say one in every three women is going to be a victim in their lifetime is an underestimation, because daily you hear about this coupled with the cases handled in the SARC and other organisation," she said. Since its establishment in 2013, SARC has continued to provide free immediate emergency medical treatment, counselling and follow up support to survivors of rape and sexual assault. Ezeilo noted that in just eight years, the SARC Network has grown from a single SARC in Lagos to 32 SARCS across 19 states in Nigeria assisting over 22,000 survivors of sexual assault combined. She stressed that there is a remarkable

Gender-based violence is not inevitable. It can and must be prevented. Stopping this violence starts with believing survivors, adopting comprehensive and inclusive approaches that tackle the root causes, transform harmful social norms, and empower women and girls

expansion spread of the SARC initiative in Nigeria and a stronger focus nationwide on comprehensive medical and counseling services for survivors. In addition to supporting their engagement with the legal system, there is strong evidence that the number of SGBV cases reported to SARCs is still a poor representation of the scale of sexual assault in Nigeria and the number of cases that are prosecuted, are very few compared to the number of incidents. Ezeilo stated that the ROLAC Programme would like to support the call and effort to establish specialised courts for SGBV by holding these mock specialised SGBV courts. According to her, this will model what survivor centred SGBV court processes and proceedings would look like in the context of Nigeria’s legislative social policy environment. “It will provide the opportunity to model police investigation and prosecution scenarios that support or compromise justice for survivors,” she said. She said that the lessons gathered from the mock trials will assist law enforcement, the judiciary and the criminal justice system to fast track the justice process on similar existing cases. Ezeilo said it will also encourage justice service providers to employ the right attitudes and tools in their interactions with victims and perpetrators of SGBV. She also noted that they brought in innovations, which connotes gender offence is not just committed against a woman, with this you see the good, the bad and the ugly. “If for example, our population is 100million, at least 30 million women and girls are victims of gender-based violence, it is really serious when we say one in every three women is going to be a victim in their lifetime is an underestimation, because in a daily basis you hear about this coupled with the cases handled in the SARC and other organisation”, she said. Also speaking from the Justice system, former Minister of Justice, Prince Adetokunbo Kayode SAN reiterated that many people go through this violence today from an immediate environment who are very close. Kayode was of the view that these persons are sometimes those persons who feel they are higher in status and the victim cannot do anything to them. According to the former Minister of Defence, trauma for people who go through violence is unimaginable. We should be able to carve out the proof of evidence and the very important burden. There must be litigations that must be directed by the court. The laws are prospective, we make laws for the future. He said there is a need to vow to never raise your hand to your spouse, it might become necessary to use the law to reduce incidents of domestic violence. “I am an advocate for special courts and I feel they should be a specialised court for different cases”, headed. Gender-based violence is not inevitable. It can and must be prevented. Stopping this violence starts with believing survivors, adopting comprehensive and inclusive approaches that tackle the root causes, transform harmful social norms, and empower women and girls. With survivor-centred essential services across policing, justice, health, and social sectors, and sufficient financing for the women’s rights agenda. On his part, the Executive Secretary of the National Human Rights Commission (NHRC), Mr. Tony Ojukwu, while lamenting the growing cases of Sexual and Gender-Based Violence (SGBV) in the country, said that between 2020 and March 2021 alone the Commission received over 139,780 complaints on SBGV, enjoined stakeholders to focus more attention on public education/awareness on SGBV and implementation of extant laws and policies that will entrench the culture of accountability around gender issues. Ojukwu appealed to Civil Society Organisations (CSO), traditional authorities, and religious leaders to be at the forefront in tackling the scourge of SGBV saying that more sensitisation is needed at the grassroots level so that people will become more conscious of protecting and enforcing their rights and the consequences and punishments that await any culprits. He said: The Commission has carried out various programmes and activities including holding public hearings in the six geopolitical zones of the country to address the upsurge of SGBV cases. The 36 state offices of the NHRC and Headquarters have continued to grapple with these cases daily, and we can rightly say that there is the hope of changing the ugly narratives.” Parting Words To fully win the battle against SGBV, all hands need to be on deck and every stratum of the society need to be involved, we need to look inside and see where we may have all gone wrong, where we have not raised a voice against SGBV when all it requires from us is just that. We also need to look into our culture and perhaps our upbringing and make a change. We may all have contributed to building this monster and we equally need to contribute to arresting and killing it.

MONDAY DECEMBER 20, 2021 • T H I S D AY

T H I S D AY ˾ MONDAY, DECEMBER 20, 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

1 7 , 2 0 2 1

S & P INDEX

EXCHANGE RATE

OBB

9.00%

CALL

INDEX LEVEL

564.02%

1/4 TO DATE

5.82%

N413.03/ 1 US DOLLAR*

OVERNIGHT

10.75%

1-MONTH

1-DAY

–0.17%

YEAR TO DATE

– 15.85%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.19%

Sustaining Battle against Monetary-induced Inﬂation, CBN Debits 18 Banks N178.3bn over Violation of CRR Threshold Zenith Bank alone debited N90bn Banks now has effective CRR ratios of 35-45%

Kayode Tokede The latest debit by Central Bank of Nigeria (CBN) on 16 commercial banks, and two merchant banks amounted to total of N178.3 billion over failure to meet 27.5 per cent CRR (Cash Reserve Ratio) threshold, THISDAY can report. A top director in a Tier-II bank exclusively disclosed to THISDAY that the apex bank every week debited banks and merchant banks for not meeting the 27.5 per cent CRR threshold. CRR is the minimum amount banks and merchant banks are expected to retain with the CBN from customer deposits. In early 2020, the apex bank’s

Monetary Policy Committee (MPC) increased CRR by five per cent from 22.5 per cent to 27.5 per cent over its intention to address monetaryinduced inflation whilst retaining the benefits of its 65 per cent Loan Deposit Ratio (LDR) policy. The monetary policy that was introduced by CBN in 2019 has drawn mixed reactions from stakeholders who have cited a drop in banks profit, among others. According to the Tier-2 bank director who pleaded anonymity said: “The CBN continues to suck up liquidity from the system with consistent CRR debits. The debits now come more during Foreign Exchange (FX) bids days and is no longer tied to the 27.5 per cent

rules that previously governing CRR debits. “The average commercial bank now has effective CRR ratios of 35-45 per cent. The resultant opportunity cost is huge on the industry. The CBN can continue to ration FX supplies without the attendant liquidity squeeze. But this has become the industry norm.” The CBN Governor, Mr. Godwin Emefiele had at the end of January 2020, MPC noted that: “the committee is confident that increasing the CRR at this time is fortuitous as it will help address monetary-induced inflation whilst retaining the benefits from the Bank’s LDR policy, which has been successful in significantly increasing credit to the private sector

as well as pushing market interest rates downwards. “The Committee further encouraged the Management of the banks to be more vigorous in its drive to improve access to credit through its pursuit of the Loan-to-deposit ratio policy as doing this would help, not only in creating job opportunities but also help in boosting output growth and in moderating prices.” According to data obtained by THISDAY, Zenith Bank Plc was the most debited bank on November 17, 2021, followed by Access Bank Plc and United bank for Africa Plc (UBA). SunTrust Bank and Unity bank Plc were the least debited by the apex bank in the month under review.

The breakdown of some affected banks revealed that, Zenith bank was debited N90 billion, Access bank (N25 billion), Unity Bank Plc (N500 million), First City Monument Bank (FCMB) Limited (N5 billion), and Stanbic Bank (N4 billion), Polaris (N3billion) and UBA (N25billion). THISDAY learnt that the CBN on December 8th debited seven banks and two merchant banks a sum of N29.6 billion. With a total of N9billion, FCMB was most debited bank, followed by Polaris Bank, N6billiion. Union Bank of Nigeria (N4billion), Sterling bank (N1.5billion) Ecobank (N1billion) Keystone bank (N3.3billion) Providus bank (N1billion), Coronation Merchant bank (N2.8billion) and

Nova merchant bank (N1billion). Analysts believe the CBN bank is using CRR to control inflation, stressing that the introduction of CRR is a drastic monetary policy by the apex bank to control money supply in the banking system. “If CBN fails to maintain its CRR policy, so much money will flow into the market and further deprecates naira. Generally, the policy has not favoured banks because the fund is not yielding any interest and of no benefit to the productive sector. These are funds banks lend to the real sector to drive business activities, finance working capital of productive sector and boost GDP Continued on page 27

Directors of Nestle Nigeria, FBN Holdings, Others Transact N32.4bn Worth of Stocks in 2021

Kayode Tokede

Insiders in fundamental stocks on the Nigerian Exchange Limited (NGX) transacted N32.4billion worth of stocks in 2021, data gathered by THISDAY revealed. The insiders include Managing Directors, Deputy Managing Direc-

tor, Non-executive Directors, and shareholding firms, among others. The companies whose directors were involved in the transactions include; Nestle Nigeria Plc, Dangote Cement Plc, Guaranty Trust Holdings Plc (GTCO), FBN Holdings Plc, Access Bank Plc, Fidelity Bank Plc, Nigerian Breweries Plc, MTN Nigeria

Plc and United Bank for Africa Plc. THISDAY investigation revealed that Nestle Nigeria Plc recorded the most active traded stock on NGX by insiders, followed by MTN Nigeria Plc. Between January and December of this year, Nestle S.A, a majority shareholder in Nestle Nigeria

purchased ordinary shares worth N25.6billion at a unit price of 18,459,945 and average price of N1,394 per share. Combined with Mr. Femi Otedola’ s N2.3billion purchase of shares at aggregated volume at 200,000,,000 and N11.52, FBN Holdings with other two transactions recorded

N2.43billion insiders transactions in one year. Otedola who turns a significant shareholder purchased 70,000,000 units of FBN Holdings at N11.50; 55,000,000 units at N11.35; 40,000,000 units at N11.65 and 35,000,000 units at N11.65 from top management of the Holdings.

Karl Toriola who was a former Non-executive Director at MTN, Ishmael Nwakocha, an employee of the telecommunication company, Chioma Okigbo, and Anthony Tochukwu Obi, the company’s Manager, Business Intelligence

Continued on page 26

M A R K E T D ATA A S AT F R I D AY, D E C E M B E R 1 7 , 2 0 2 1 FGN BONDS DESCRIPTION 7.144 FGNSB 15-JAN-2022 13.125 FGNSB 16-JAN-2022 16.39 27-JAN2022 5.910 FGNSB 12-FEB-2022 13.050 FGNSB 13-FEB-2022

Price

Yield

BILLS Change (%)

MATURITY

OTC FX F U T U R E S

Discount Yield Change (%)

100.27

3.72

0.01

NTB 13-Jan-22

3.69

3.70 0.00

100.76

3.71

0.02

NTB 27-Jan-22

3.85

3.87 0.00

101.39

3.63

0.08

NTB 10-Feb-22

4.00

4.02 0.00

100.36

3.53

0.16

NTB 24-Feb-22

2.45

101.49

3.52

0.17

NTB 10-Mar-22

2.98

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

NGUS DEC 29 2021 421.18

NGUS JAN 26 2022 422.61

NGUS FEB 23 2022 424.04

2.46 0.00

NGUS MAR 30 2022 425.46

3.00 0.00

NGUS APR 27 2022 426.89

C Ps MATURITY

Discount Yield

Change (%)

PARP CP II 30DEC-21 CMBL CP XVI 7-JAN-22 CTIL CP I 10JAN-22 MREP CP XXXX 10-JAN-22 MREP CP XXXV 14-JAN-22

5.61

5.62

-0.08

7.68

7.71

-0.04

5.87

5.89

-0.02

12.49

12.59 -0.02

7.61

7.66

0.00

MONDAY, DECEMBER 20, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

L-R; Managing Director/CEO, Urban Vision, Mr. Tola Odunsi; Nollywood Actress, Sharon Ojaa; Special Guest, Richard Mofe- Damijo; Group Chairman/CEO, Throne Investment Homes, Mr. Michael Olalekan Ilori; Brand Ambassador, Throne Homes/Actress, Osas Ighodaro; Actor/Singer, Ayoola Ayolola; and Brand Ambassador, Throne Investment Homes, Chukwebuka Emmanuel during the ground braking/Commissioning of Throne Investment Homes, held in Abuja… weekend

FirstBank: Unlocking Wealth in Salary Account Kayode Tokede In time past, monthly income earners - especially bank customers - were unable to have quick access to personal loans to meet their immediate financial needs due to the stringent conditions. The Central Bank of Nigeria (CBN) had introduced the Know-Your-Customer (KYC), among other policies, to enhance financial inclusion and reduce the incidence of related identity fraud in the banking sector. These have enhanced the capabilities of banks to grant soft loans to customers. With these, monthly income earners have access to loans every month with an attractive interest rate, below the stipulated limit, which has eased customers with the opportunity to access soft loans (Personal loans) and meet urgent needs. Amid double-digit inflation rate, among other operating headwinds, meeting demands of owning a dream car, house, and travel for vacation become challenges as daily expenses inflate. Personal loans are borrowed money that can be used for large purchases, debt consolidation, emergency expenses, and much more. These loans are paid back within the period advised in the terms and conditions of the facility. The payback period can be within a month, a couple of months a few years.

Salary accounts can do more than just receive monthly pay; they have inherent wealth that can be unlocked to help customers achieve dreams as they advance in their careers and be on top of situations at home and work. Over the years, First Bank of Nigeria Limited has adopted the strategy of creating opportunities for salary accounts holders to unlock the wealth in their accounts with numerous initiatives introduced to bridge the gap in the access of quick loans. The bank’s salary accounts offer zero opening balance, zero minimum daily operating balance, zero account maintenance charge, First Free Verve or Master Card Issuance and access to consumer loans. The bank also introduced Personal Loan Against Salary (PLAS), First Advance, and FirstCredit Salary Account

designed to meet personal loans demands. With FirstBank’s PLAS, the salary account holder can access personal loans up to N30 million to pursue capital projects, carry out renovation works on their properties, acquire assets, give their children the best education, and other fulfilling accomplishments. PLAS offers flexible options to top-up and refinance existing loans at competitive rates. The product is designed to also help customers meet immediate personal financial obligations such as rent renewals, vacation trips to choice destinations and pay for professional examinations to take their career to the next level. With PLAS, Nigerian salary earners need to be assured of a funding partner in FirstBank to fulfil their dreams. PLAS is available

to employees whose salary accounts are domiciled with FirstBank. FirstAdvance is a digital lending solution designed to offer convenient and easy access to cash for payroll customers awaiting payment of their salaries. The product is meant for salary earners whose accounts are domiciled with FirstBank and have received regular salaries in the last six months or more. The maximum amount accessible is N500,000.00, subject to 50 per cent of the net average three months salary, whichever is lower. The eligible amount is calculated after deducting all other loan obligations to the Bank. This product can be accessed via the Bank’s leading digital channels: FirstMobile and USSD. The features of FirstAd-

vance include: Salary account must be domiciled with FirstBank, loan amount of up to 50 per cent of net monthly income, the tenor is 30 days or next payday [whichever comes first]. Repayment is taken immediately salary is received, while a lien is placed on the unfunded account, among others The bank also has FirstCredit, a product designed to provide customers with a quick and simple loan to fund their immediate needs. FirstCredit loans can be accessed from anywhere without visiting the Bank. It involved no documentation or collateral required and all the customer need is a mobile phone or tablet. FirstCredit is easy and convenient as it promotes immediate access to loans to meet needs. It facilitates quick loan requests and

disbursal with no physical documentation required nor collateral required. Neither are there hidden charges nor fees. Its features include: the customer’s account must have been operational in FirstBank for at least six months; linkage of the account to a valid BVN is a requirement; primarily details of the account, including phone number and residential address, must be correctly updated and the customer must have a positive credit history and score with Credit Bureaus. The maximum loan amount is N300,000 Others are loan tenor: of 30 days, an interest rate of 10 per cent flat and insurance fee is also taken upfront on loan disbursal. To apply for FirstCredit, customers are to Dial *894#, select Loans, and follow the instructions.

Mixed Reactions Trail SEC’s 0.025% Charge on Fixed Income Transactions Kayode Tokede Capital market stakeholders have expressed mixed feelings to the plan by the Securities & Exchange Commission (SEC) to charge 0.025 per cent on fixed income (Bonds) secondary market transactions. The apex capital market regulating body in a circular noted that the fee on fixed income transactions is expected to be effective from January 1, 2022. Speaking with THISDAY, doyen of the market, the oldest trading stockbroker present on the trading floor, Mr. Rasheed Yusuf noted that the new fee would hike in the cost of transactions in the fixed income

instruments. In his words: “Both the buyer and seller of fixed income instrument will have to pay the additional cost. Will it make prospective investors mull on the additional cost and conclude that the yield on longer attractive? These are the things we will be looking out for next year.! “We will need to find out by next year if the additional cost is sufficient to discourage players in the fixed income market or it will bring about a marginal effect. However, it will be a function of volume an investor is buying from the fixed income market. Can you imagine of 0.025 per cent fee on N1billion worth of investors

transaction in the fixed income market unlike someone buying N1million in the same market?” Speaking also, the Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Mr Sam Onukwue said: “I do not think it’s out of place for SEC to do so. The Commission has been charging on equities all along. The proposed charges on fixed income securities should not discourage investors from the asset class. “Investors have their preferences and would always weigh their risk tolerance and other fundamentals in making investment decisions. We have risk takers and risk averters. The

former invest more in equity while the latter have strong hold in fixed income securities.” Also commenting, the President of the Association of Capital Market Academics (AMAN) Prof. Uche Uwaleke noted that charge would empower SEC to carry out effective regulation and enhance the capital market. According to him: “The charge is on transactions in the secondary segment of the bond market and it is very much in order as it is already in place in the secondary segment of the equities market. “It will financially empower SEC to carry out effective regulation and development of the Nigerian capital

market. Besides, 0.025per cent is not significant to the point of discouraging transactions in the bonds market.” The Commission had in a circular noted that it will charge 0.025per cent of the total value of all secondary market transactions on Bonds, while the Securities Exchange on which the transaction occurs will charge an amount not exceeding 0.025per cent of the total value of secondary market transactions on Bonds while Bond transactions by dealing members will attract a single regulatory fee of 0.0001per cent of the total value of the secondary market transactions on Bonds, and are exempt from the 0.025per cent fee charge earlier stated.

DIRECTORS OF NESTLE NIGERIA, FBN HOLDINGS, OTHERS TRANSACT N32.4BN WORTH OF STOCKS IN 2021 Group Business Editor Eromosele Abiodun Comms/e-Business Editor Emma Okonji Aviation Editor Chinedu Eze Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafo (Energy) Emmanuel Addeh (Energy) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)

and Strategy transacted a total of N303.5million worth of shares in the company during the period under review. Toriola who is now the Chief Executive Officer, MTN Nigeria 2021 purchased an aggregate 515,102 ordinary shares at average price of N165.61 per share and 253,982 ordinary shares at average price of N162.96 per share on the NGX. He also bought 679,370 ordinary shares at average price of N159.30 per share on March 2021. Insiders in Nigerian Breweries traded N2.87billion worth of stocks in 2021, while Zenith Bank recorded N702.46million worth of transactions in 18 deals. As Fidelity bank recorded N193.08million worth of insider transactions, Access bank in three deals recorded N101.9million worth of transactions between January and December.. In addition, UBA, recorded N49.97million worth of transaction with a unit price of 6,158,628 units

at N15.18 average price. The Bourse had introduced insider-trading rules following a CEO decision to sell part of its shares when it declared a closed period for trading in its stocks. “The problem wasn’t about the CEO selling his shares in the bank,” said a stockbroker, who pleaded anonymity, “but it was about; why in heavens name was he selling such large volumes at the beginning of a new year before the release of banks audited financial statements. Commenting on inside related transactions, analyst at PAC Holdings, Mr. Wole Adeyeye noted that: “Most times, when the price of stock is below the intrinsic value in the market and the company has strong positive outlook, directors may likely buy more shares in the market. “However, when the price of the stock is very high in the market, some directors may decide to sell part of their stocks in the market. Other reasons for selling more stocks

could be that the director is planning to exit the company or to meet his urgent personal need.” The bourse in January 15, 2020 in a circular required listed entities to file details of all transactions by Directors and other Insiders To provide clarity on insider dealings and who an insider is; and when such insider’s transaction could be considered legitimate, the NSE in a circular on January 15, 2020 defined insiders in line with Section 315 of the Investment and Securities Act (ISA), No. 29, 2007 and Rule 400 (3) of the SEC Consolidated Rules, 2013. According to the circular signed by Head, Listing Regulation Department, Godstime Iwenekhai: “Rule 17.15(c): Disclosure of Dealings in Issuers’ Shares, Rulebook of The Exchange, 2015 (Issuers’ Rules) provides that all directors, persons discharging managerial responsibility and persons closely connected to them as well as all insiders of

the Issuer shall notify the Issuer in writing through the Company Secretary of the occurrence of all transactions conducted on their own account in the shares of the Issuer on the day on which the transaction occurred and the Issuer shall maintain a record of such transactions which shall be provided to The Exchange within two (2) business days of The Exchange making a request in that regard. “In respect of insider actions in 2020, the NSE circular noted that companies needed to do the following: File with The Exchange, details of transactions by Directors and other Insiders from; and January 2020 to the date of this Circular, i.e., 15 January 2020. The details to be filed with The Exchange are as set forth in the attached Appendix A to this Circular. “This information is required to be filed no later than Friday, 17 January 2020 through the Corporate Action Channel of the Issuers’

Portal. Effective from the date of this Circular, i.e., 15 January 2020, all Issuers are required to file information on Insider transactions subsequent to 15 January 2020 with The Exchange in the format prescribed in Appendix A to this Circular within two (2) business days of such transactions through the Corporate Action Channel of the Issuers’ Portal. “For the sake of clarity and by way of example, please note that if an Insider transaction occurs on a Monday, the Issuer is required to file the requisite information no later than Wednesday of the same week. If the Insider transaction occurs on a Friday, the Issuer is required to file the requisite information no later than Tuesday of the following week. If the Insider transaction occurs on a Friday and the Monday is a public holiday, the Issuer is required to file the requisite information no later than Wednesday of the following week.”

T H I S D AY ˾ MONDAY, DECEMBER 20, 2021

BUSINESSWORLD

STATUS REPORT

ETI: Cut in Impairment Charges, OPEX Boost Proﬁt

Kayode Tokede

cobank Transnational Incorporated Plc (ETI) for the nine months ended September 30, 2021 audited result and accounts reported stronger growth in profit, attributable to reduction in impairment charges on loans & advances to customers and effective management Operating Expenses (OPEX). The results underlined solid and resilient results amid numerous domestic and foreign challenges that faced the sector and economy at large in the period under review. The group continued to maintain a wellstructured, efficient and diversified balance sheet with strong earnings capacity. ETI joined most outstanding banks on the Nigerian Exchange Limited (NGX) to report consistent growth in profitability. The balance sheet structure enabled the group to withstand the negative impact of COVID-19, which virtually affected all the sectors of the nation’s economy. The pan-African bank in the nine months under review crossed N100billion mark in Profit Before Tax (PBT). PBT rebounded in the period, against prior nine months of 2020 figures when the Ecobank paid goodwill impairment of N60.6million, leading PBT to decline by -68.49 per cent in the period. In the period under review, the Group reported its highest PBT as it was up by 316.47 per cent to N143.67billlon from N34.5 billion reported in nine months of 2020. Also, profit after tax grew by 916 per cent to N104.51billion in nine months of 2021 from N10.28billion reported in nine months of 2020. The growth in profits was on the back of a 11.93 per cent in operating income to N516.17billion in nine months of 2021 from N461.74 billion reported in nine months of 2021, while impairment charges on financial assets dropped slightly by 3.12 per cent to N59.57billion from N61.5billion reported in nine months of 2020 (fell -10.4 per cent to $145.01million) According to the bank: “Impairment charges on loans (net) were $103 million compared with $128 million in the prior year. Gross impairment charges were $231 million, $31 million more than a year ago, driven by higher impairment charges in our Francophone West Africa and Central, Eastern and Southern regions. “Ongoing effectiveness of our NPL remedial and recovery strategy, asset quality improvements,

and better economic conditions continued to sustain loan recoveries, which were $128 million for the period, increasing $55 million from the prior year. The cost-of-risk was 1.43% compared to 1.79per cent in the prior year.” With the growth in profits, Basic earnings per share (EPS) rose to N301.06 from a negative of N50.17 in nine months of 2020.

RETURN ON EQUITY

Also, Return on equity rose to 16.39 per cent in nine months of 2021 from 4.87 per cent in nine months of 2020. The group also reported three per cent decline in total operating expenses to N300.72billion in nine months of 2021 from N292.39billion reported in nine months of 2020. The breakdown of ETI’s OPEX showed two per cent increase in staff expenses to N132.4billion from N129.7billion reported in prior nine months while, Depreciation and amortization inched up by two per cent to N33.25billion from N29.41billion reported in nine months of 2020. In addition, other operating expenses grew slightly by one per cent to N135.06billion from N133.25billion. The management of cost positioned the group Cost-to-income ratio to 58.30 per cent in nine months 2021 from 63.40 per cent in nine months of 2020. However, the top line performance, Gross earnings grew by 11.77 per cent to N686.77billion from N614.56billion in nine months of 2020. In dollar terms, gross earnings was up by 3.39per cent to $1.68billion in nine months of 2021 from $1.61billion reported in prior nine months of 2020. With interest income adding 12 per cent to N445.12billion in nine months of 2021 and interest expenses increasing by 13 per cent to N160.7billion, the group reported net interest income that was up by 12.02 per cent to N445.12billion from N397.37billion in nine months 2021. Non interest income also increased by 12.42 per cent to N231.74billion from N206.13billion in 2020.

LOANS TO CUSTOMERS

ETI’s total assets grew by 15.7 per cent to N10.91 trillion as at September 30, 2021

from N9.43 trillion reported in 2020, drive by increase in loans to customers and deposit. The bank’s loans and advances to customers was down by one per cent to N3.67 trillion from N3.7 trillion in 20202 as Deposit from customers grew six per cent to N7.79trillion from N7.3trillion in full year ended December 31, 2020. In addition, to balance sheet, total equity rose by eight per cent to N876.33billion from N811.75billion reported in 2020. The CESA business unit of the Group recorded the highest growth in customer deposit by +17 per cent while the Nigerian segment had a decline in deposit from customers by –three per cent. The UEMOA region accounts for the largest portion of the Group’s total deposit from customers, contributing 35.44per cent while Nigeria accounts for 20.27per cent of total deposits.

ASSETS QUALITY

The management promised to sustained improvement in Asset quality following the merger inflated Non-Performing Loan (NPL) ratio NPL ratio was steady between nine months 2018 to nine months 2020 at an average of 9.8per cent, in nine months 2021, it improved to 6.90 per cent meeting the Group’s 2021 target of 5 – 7 per cent. Although, the Pan African bank’s NPL is above CBN’s regulatory threshold of five per cent. The AWA region of the group had the lowest NPL ratio of three per cent while the Nigerian business segment recorded the highest NPL ratio of 16.5per cent. Also, ETI’s Capital Adequacy Ratio (CAR) reflecting Day IFRS 9 transitional adjustment stood at 20.6 per cent(Dec’19: 20.0 per cent), and the full impact CAR of 19.6 per cent remained well above regulatory minimum of 15 per cent.

CEO SPEAKS

Ecobank Group CEO, Ade Ayeyemi in a statement said: “We reported strong results, reflecting the continued diligence of Ecobankers in putting our customers first and ensuring that we meet their respective needs. For the nine months period up to September 2021, we earned $352 million in pre-tax profit, a 41 per cent increase

compared to the prior year and revenues of $1.3 billion, a four per cent growth. “Hence return on tangible equity increased to 17.9per cent, and we grew the per-share value of our shareholders’ equity by 11 per cent to 5.52 dollar cents. These results also demonstrate the hard work invested in driving efficiency in all our businesses in line with our deliberate focus on driving down our cost-to serve, sustain improvement in the quality of our credit portfolio, and strengthen liquidity and capital buffers. As a result, our cost-toincome ratio has been declining consistently quarter on quarter, currently 58.3per cent.” “In addition, the stock of nonperforming loans as a percentage of loans outstanding is now at 6.9% compared to 9.9per cent a year ago. At the same time, we are proactively building loan reserves, currently at 91.2% of nonperforming loans, close to our near-term target of 100%. We have boosted the firm’s liquidity profile, thanks to growing customer deposits fueled by an acceleration in digital channel adoption, partnerships with Fintechs, Telcos, and businesses in the Payments Ecosystem,” Ayeyemi added. “During the quarter, Arise B.V., a major institutional shareholder of ETI made a $75 million Additional Tier 1 (AT1) investment in the firm. Adding onto the $350 million Tier 2 Sustainability Note ETI successfully issued to investors in June. The AT1 further improves our Tier 1 capital and double leverage ratio and demonstrates stakeholder confidence in our strategy and business prospects,”Ayeyemi continued. “Finally, we continue to invest in new digital and mobile capabilities to enhance customer experience, alongside the investments we are making in our people, processes, and controls, to ensure the continued resilience of our business and service delivery to our clients. I am deeply grateful to all our customers, “he added. ETI appears to be on the mend as its nine months results reflects an improvement in top and bottom-line earnings compared to nine months of 2020. The group posted a goodwill impairment of N60.58billion in the previous year which hurt its earnings, however despite the oneoff goodwill adjustment the group in 2021 saw an earnings rebound and an upward stretch in liquidity for the first nine months of the year.

SUSTAINING BATTLE AGAINST MONETARY-INDUCED INFLATION, CBN DEBITS 18 BANKS N178.3BN OVER VIOLATION OF CRR THRESHOLD but the CBN is holding it down. “It is not a good development for the nation’s economy in general. However, CBN has its reasons and releasing these funds, it might result in hyperinflation, which can damage the nation’s economy. It is like a double edge situation- if you don’t do it, the economy is damaged and if you do it, the economy also struggles, ”said Vice President, Highcap Securities Limited, Mr. David Adnori. He noted that the only way CBN can cut CRR is when inflation dropped to a single-digit rate. In a chat with newsmen recently,

the National Coordinator Emeritus, Independent Shareholders Association of Nigeria (ISAN), Sunny Nwosu stated that the 27.5 per cent CRR has not also yielded the desired economic results after the first phase of Covid-19. He noted that shareholders are worried about the state of commercial banks and the safety of local portfolio investors’ investments following the repeated fleezing of the banking industry by CBN. Nwosu explained further that the continuous debit of banks under CRR by CBN is putting the banking sector under serious

threat and a compelling impotency toward sustainable intervention in the real sector. “We urge CBN to seriously have a rethink on CRR and among other things to enhance the performance of the financial sector of the economy. The challenge character of Nigerian economy makes it imperative for CBN to pay interest on restricted deposits. “Banks restricted deposits with CBN are idle funds. We argue that if these funds are with banks, certainly it will enhance their earnings, loans to real sector and returns for shareholders.

“If CBN can pay at least three per cent interest on the mandatory CRR deposits, it will go a long way in driving the real sector and the payment of robust dividends to shareholders,” ISAN argued. Also, analysts at Agusto & Co. Limited disclosed that banking industry CRR with CBN exceeded N9.5 trillion in full year ended December 31, 2020. Agusto & Co. in its 2021 Banking Industry Report said the Industry would have recorded a Return on Equity (ROE) of 31.6 per cent if not for the aggressive implementation of the CRR in 2020.

According to Agusto & Co. “However, given the need to moderate inflation amidst efforts to maintain a stable exchange rate, the CRR was increased and standardised to 27.5 per cent for both merchant and commercial banks. The standardised CRR was implemented alongside discretionary deductions. “Agusto & Co notes that as at FYE 2020, the Industry’s restricted cash reserves exceeded N9.5 trillion and translated to an effective CRR of 37per cent. It is noteworthy that Nigeria has the highest reserve requirement in

sub-Saharan Africa. South Africa, Kenya and Ghana all have CRR’s of below 10 per cent. “We believe the elevated CRR level moderated the Industry’s performance and liquidity position during the year under review. Assuming the sterile CRR were invested in treasury securities at five per cent, N482 billion would have been added to the Industry’s profit before taxation. This would have increased the Industry’s return on average equity (ROE) by 11 per cent to 31.6 per cent in the financial year ended 31 December 2020.”

MONDAY DECEMBER 20, 2021 • T H I S D AY

MONDAY, DECEMBER 20, 2021 ˾ T H I S D AY

BUSINESSWORLD

BRANDS

Coca-Cola Wall Murals Signal the Way Forward Ugo Aliogo writes that murals have served as cultural and historical signposts in public spaces in Nigeria

urals are a feast for the eyes anywhere you find them. Though created for diverse reasons across the globe, murals serve functions beyond aesthetics. Murals, made beautifully, could be used to enhance the ambience, attract tourists or even send a strong message. To the well-informed, the memory does not need much of a rejig to recall murals that have left an indelible mark across the world. There are hundreds of examples of murals that not only represented a major cultural shift, but also started movements in favour of the advancement of good causes. When Shepard Fairey painted Power & Equality, no one could anticipate the sheer influence it would have on civil rights movements. The responses to the powerful art were unprecedented and it earned quite the reputation internationally. The mural, as described by art-oriented publication My Hero, “depicts the black woman of the 60s equal rights era, resplendent in her afro and psychedelic jewellery, the style of the day. Beautiful and proud, she raises her eyes to a future that holds the promise of equality, self-respect and empowerment.” More recently in May 2020, five artists gathered at Wilshire Boulevard in Santa Monica, USA, and proceeded to paint the word “Togetherness”, represented in “huge letters vibrantly embellished across the plywood panels protecting the windows of the shuttered kitchenware store Sur La Table,” as described by The New York Times. According to the

NY Times, the painting was commissioned by Kathleen Rawson, chief executive of Downtown Santa Monica, Inc., in response to the closure of businesses in her district caused by the COVID-19 pandemic. The work was commissioned to represent a ray of hope and to promote unity among those struggling in these difficult times. In Nigeria, murals have served as cultural and historical signposts in public spaces. Falomo Roundabout in Ikoyi, Under Bridge Stadium in Surulere and some Lagos-owned ferries on the waterways, bear these visual emblems. Arguably, murals have a cross-generational appeal for even toddlers find them attractive as they trudge along the sidewalks with their parents or caregivers in public. It is the unifying factor that is embedded in murals that have made them become a universal medium of communication and orientation. Murals are refreshing, especially in high-traffic areas where they may impact – consciously or subconsciously – on the attitudes – emotions of passers-by. It is for this reason that Nigeria’s leading beverage brand, Coca-Cola Nigeria Limited is leading this art movement towards celebrating the glaring spirit of our unity experienced this year with its end-of-year celebrations. Despite the various threats to national unity, there are some unifying experiences for the Nigerian populace, bridging the gap occasioned by individual and community differences. Sports,

music, films, theatre, movements, and festivities have brought people of various backgrounds together. But that is not all. As the country begins to mark its resurgence from a challenging year, it is important that these nuances, diverse traditions, cultures, and moments peppered throughout this year are recognised and showcased with a view to celebrating and portraying how unified we all were this year, and how we can emerge stronger together. Since its entry to Nigeria in 1951, Coca-Cola has constantly and consistently brought a refreshing wave to Nigerians in particular, and the world, in general, through remarkable execution of relevant campaigns, initiatives, and activities that rent a positive space in the minds of consumers, impact them positively and create a lasting impression. Hence, to celebrate the end-of-year festivities and to encourage Nigerians to focus and reflect on the positive aspects of the year, Coca-Cola Nigeria Limited made the decision to uplift Nigerians with messages of hope and unity. Committed to this mandate, the company partnered with established and internationally acclaimed mural artists in Ayoola Gbolahan and more to paint monumental wall murals on key sites across all regions in the country. Undoubtedly, Nigeria is a diverse country and these wall murals not only amplify elements that celebrate our shared history and diverse

culture, but also present an opportunity for Coca-Cola to celebrate, demonstrate, and express our need to embrace unity, now more than ever before, through art. In a nutshell, the murals will celebrate the uniqueness within each region, with a specific focus on the people, the culture and the rich heritage of the region, while weaving a consistent thread of togetherness and unity within our diversity. As the company kicks off end-of-year festivities, Coca-Cola wants to remind the citizens of their uniqueness and history as a people and their strength in numbers through various touchpoints. While the country has undergone and is going through numerous challenges in 2021, Coca-Cola believes that the ultimate way to elevate above these challenges is by reflecting on the bright spots, which include our sense of community, our hope for the future which never dies, and our resilient spirit. The target locations for the wall murals included Oyo, Rivers and Enugu. Monumental murals like Coca-Cola’s can be a driving force for pointing us to the meaningful aspects of our shared lives. Like the national currency, murals are lasting visual artforms that can charge us to look on the brighter side of life without a word. It is expected that these murals will also go beyond enlivening the spirit of Nigerians by serving as tourist attractions as well as cultural emblems that can spark conversations about a one, united Nigeria as evidenced this year, and going forward.

NIMASA Renew Revised Online Platform Targets Edtech, Teesas, Signs Offshore Cargo Handling, 67% of Nigerian Youths Ambassadorial Deal with Mercy Johnson Operations Stevedoring Rates in the SMEs Raheem Akingbolu

In furtherance of its efforts to mitigate the effects of the COVID-19 pandemic, the Nigerian Maritime Administration and Safety Agency (NIMASA) has renewed the revised Offshore Cargo Handling and Operations Stevedoring rates contained in the Second Schedule of the NIMASA Stevedoring Regulations 2014. The renewal of the rates, which had been reviewed downward, is for a period of six months. In a statement, the Director General of NIMASA, Dr. Bashir Jamoh, said renewal of the reviewed stevedoring rates was in line with the Agency’s determination to make the best of a bad situation occasioned by the pandemic. Jamoh stated, “The idea is to

make this unpleasant pandemic moment as friendly as possible to both businesses and the economy, in general. We are aware of the adverse effect of COVID-19 on business globally, how it has distorted business plans and skyrocketed costs in various sectors, particularly, the petroleum industry. In NIMASA, we have a strategic plan to make the best of the bad situation, which we have continued to implement.” The reviewed stevedoring rates apply to dry bulk cargo, liquid bulk cargo, onshore stevedoring, and offshore royalty. The agency’s regulatory powers under the Nigerian Maritime Administration and Safety Agency Stevedoring Regulations 2014 empowers it to review fees, levies, and charges

In the bid to support ambitious and industrious youth entrepreneurs in Nigeria to expand their geographical reach, grow their customer base and achieve high sales turnover, an online shopping platform, Purplestonemall.com has been unveiled. Providing a one-stop shopping platform to enable stores showcase and expand their products and services online, Purplestone mall shopping platform is an online platform service that has been designed and developed to suit the Business to Business to Customer (B-B-C) in mind. Speaking at the launch in Lagos, the CEO of Purplestone, Mrs Lillian U Agbakoba, wife of legal luminary, Olisa Agbakoba SAN, said having her eureka moment, she had envisaged an opportunity

to assist Nigerian SMEs to do better, by providing a centralized platform for them to reach out to their teeming consumers here in Nigeria and on the global stage. “Like Ali Baba, which sprung from a small humble beginning in China, into current global reckoning, Purplestone management, is determined to satisfy the needs of teeming consumers in the country, whilst growing market share to a pre-eminent position in the global ecommerce market. “We are very confident that our entry into the digital market space will support the 67% ambitious and industrious youth entrepreneurs in Nigeria to expand their geographical reach, grow their customer base and achieve high sales turnover, improved revenue and profits,” she said.

Raheem Akingbolu Teesas, an African-focused Edtech start-up that is delivering educational content via web and mobile applications, has signed-on Nollywood actress Mercy Johnson-Okojie as its first brand ambassador. The ambassadorial deal, which will run for two years was signed at the firm’s offices in Lagos recently. The actress, who was said to be unique for her ability to speak five Nigerian languages, has been engaged to promote the app as a home tutor and a platform for the learning of native Nigerian languages in a fun and engaging way, to her large fanbase. As part of the deal, the Nollywood actress will also feature in Teesas marketing

communications campaigns to be deployed in mainstream and digital media. The founder and chief executive officer of Teesas, Osayi Izedonmwen, explained that the brand is a new educational app focused on teaching children aged 2 – 12 years core subjects including Maths, Sciences and Literacy through engaging tutor-led videos and e-books in English, as well as educational content in major Nigerian languages namely; Bini, Hausa, Ibibio, Igbo, Ijaw, Yoruba, and Tiv with plans to include French soon. He added that the videos are in line with the national curriculum. He further explained that adults seeking to learn their mother tongue (local languages) would also find the app useful.

MONDAY, DECEMBER 20, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

LASG, Eko Innovation Centre Harp on Startup Funding, Empowerment Emma Okonji In a bid to address one of the critical challenges of businesses, especially among startups, the Lagos government and Eko Innovation Centre including other experts at the Art Of Technology Lagos 3.0, which held recently in Lagos, have offered tips on start-ups funding and empowerment. They also used the platform to empower innovative Tech Entrepreneurs and young innovators with equity investment and other support initiatives to thrive in the business space. The two-day hybrid conference curated by Eko Innovation Centre, had its theme: ‘Funding and a Connected Lagos’. In attendance were government officials and other experts in the technology ecosystem who spoke on investment readiness, intellectual property, startup bills and other regulations, and policy formulations for tech startups in the tech ecosystem. Minister of Communication and Digital Economy, Dr. Isa Ali Pantami, who spoke at the

event via a virtual platform, commended Lagos and Eko Innovation Centre for making the state the Silicon Valley of Africa, stating that it will continue to support the state in its quest to achieve much more. He explained further that technology deployment was already changing the world, stating that the ICT sector is instrumental to the country’s exit from recession. He, therefore, urged startups to deploy technology to ease their operations in the interest of growing their business. Pantami said the government was determined to support the growth of startups and businesses especially with the many government agencies working closely to fund and grow the business landscape. Lagos State Governor, Babajide Sanwo-Olu, said his administration had been deliberate about deploying technology to make governance seamless and had been funding the technology space in line with its smart city agenda, which has further helped the state to be the 5th largest economy in Africa.

Qatar Airways Begins Direct Flight to Abuja Qatar Airways has commenced a direct flight to Abuja, the Nigerian capital starting from December 1, 2021. The direct flights to the Nigerian capital will no longer be linked to Lagos, offering direct connectivity between Abuja and Doha. Served by state-of-the-art Boeing 787 Dreamliner featuring 22 seats in Business Class and 232 seats in Economy Class, the direct service will allow travelers to enjoy a seamless travel experience to Hamad International Airport with connections to more than 140 destinations. The move follows the recent addition of double-daily flights to Lagos. Qatar Airways now offers 100 weekly flights to 27 destinations in Africa. Qatar Airways Vice-President,

Africa Mr. Hendrik Du Preez said: “Nigeria is a very important market to us and we will continue to offer more travel options and seamless connectivity to the largest network of destinations across Asia-Pacific, Europe, the Middle East and North America. “We anticipate the Abuja-Doha route being especially popular with visitors to the UK, India, UAE, Saudi Arabia and Doha. After just under a year of resuming flights to Lagos and launching to Abuja, following the challenges imposed by the pandemic, it is a testament to the resilience of the African region that we have now introduced direct flights to Abuja. We look forward to welcoming passengers on board to enjoy our award-winning hospitality and service.”

DataSixth Wins Cybersecurity Company of the Year Award Nosa Alekhuogie DataSixth Security Consulting has received the Cybersecurity Company of the Year 2021 Award at the 5th Tech Innovation and Telecoms Awards. The company’s Country Manager, Happiness Obioha, received the award during an event held in Lagos. The Tech Innovation and Telecoms awards, according to the organisers, has become the most prestigious ICT award event on the African Continent, attracting the presence of prominent executives and ICT professionals across the vertical sector in Africa. In its comment shortly after receiving the Cybersecurity Company of the Year Award, DataSixth expressed its appreciation for the honour, dedicating the prestigious award to its staff, partners and

customers.The company restated its commitment to filling the national cybersecurity export gap. DataSixth’s Founder and CEO, Michael Anyanwu said: “We are truly humbled and appreciative of this prestigious honour and award. “This award, firstly, is dedicated to all DataSixth staff, who embodies the word ‘CYBER RESILIENCE’ and to our wonderful partners and customers, who believed in the touch of #Expertise. “We all believe that #Security secures everyone and #Cybersecurity secures our digital lives. However, we believe that DataSixth brings human2human expertise to a sector that’s been served with lack of expertise and intelligence. We assure everyone we will be the first company that will fill in the gap of a national cybersecurity export.”

He added that from traffic management to security, the state is deploying technology to make it better. The governor

explained that the Lagos State Science Research and Innovation Council (LASRIC) raised the bar in assisting the

state in achieving its smart city agenda of making Lagos a 21st-century economy to transit to a smart city through the

application of science and information technology and by also providing grants to innovators.

RECOGNITION AWARD…

L-R: Senior Advocate of Nigeria (SAN), Dr.Peter Adogbejire Mrakpor, receiving the ICON of Good Governance award from the Chairperson, Nnanna Ehiribe Foundation for Good Governance Yearly Lecture, Justice Kudirat Abike Jose, which held at Muson Centre, Onikan, Lagos… recently

Henkel Marks International Volunteering Day, Reafﬁrms Committment to CSR Gilbert Ekugbe Henkel Nigeria has joined the rest of the world to mark the international volunteering day with pupils of Ibadan Municipal Government (IMG). The Managing Director and Chief Executive Officer of Henkel Nigeria, Mr. Rajat Kapur, said marking the day with the children is a continuation of its corporate social responsibility tradition where the employees of the company volunteer to uplift their surrounding communities in various ways. The event comes off the back of the recent launch of its global scientific initiative, Forscherwelt or Researchers Worldwide – a first on the African continent. Forscherwelt is an educational

initiative designed by Henkel to introduce elementary school children to the fascinating world of science through specific learning objectives, further encouraging them to explore the world of science and make research fun. Every year, Henkel uses the opportunity to encourage people from around the world to volunteer more in their local communities. International Volunteering Day was established by the United Nations in 1985 and promotes the idea of people uplifting their surrounding communities in various ways. This year, Henkel combined International Volunteering Day with International Day of Persons with Disabilities. IMG caters for children with various special needs, and Henkel, along with one of its

Brand Ambassadors, Akunna Okechukwu, Nigerian Idol Season 6 Second runner-up, used the occasion to make the pupils at the school elated, as well as to leave a lasting impression of love and kindness. The Oyo State Commissioner of Education, Abiodun Abdulramah commended Henkel for celebrating this event with the children at IMG and that what Henkel is doing is a great thing for the state. The Chairman of the Oyo State Universal Basic Education Board (SUBEB), Dr. Nureni Adeniran commended the company on remembering the children. Represented by Saheed Aliu, Deputy Director, School Services, he said this has shown that

Henkel is a good corporate citizen of the state and the board is ready to support the company. The Consul General of the Federal Republic of Germany, Dr. Bernd von Münchow-Pohl, applauded Henkel Nigeria on the initiative. He said, “As Germany’s official representative in Lagos with responsibilities for the southern part of Nigeria including Oyo State, I applaud the efforts of Henkel, one of my country’s best-known global players in the chemical industry, to demonstrate its commitment as an exemplary corporate citizen of Oyo State through its activities for the students of IMG School in Ibadan as Henkel’s International Volunteering Day.”

Fintrak Software Takes Budget Solution to MDAs Nosa Alekhuogie Fintrak Software Limited has developed an online; real-time fully integrated system with the ability to support multiple users with many budget versions. The solution, known as FinTrak Budget software, which is designed to address budgetary issues, has been introduced to government ministries, departments and agencies (MDAs) The FinTrak Budget software offers customisation to suit unique business environment and seamlessly integrates with existing platform. The solution is being introduced at a time of the year when the budget is been planned for the new fiscal year, to the challenge of eliminating human errors that comes with implementation, wastage and timeliness in delivery.

Speaking about the importance of the solution, the Group Managing Director of Fintrak Software Limited, Mr. Bimbo Abioye, said, the solution would address basic budgeting process and expenditure management, which had always been a challenges for many MDAs in Africa, Nigeria inclusive. Seeing these loopholes in the budgeting processes Fintrak Limited, an indigenous software development and financial technology firm is bringing innovative solution known as FinTrak Budget Planning and Processing Control software to make work easier for many offices in the public sector. According to Abioye, financial data and management are very important to effective governance. Access to this and the use of timely and accurate budgeting

and expenditure data are key to public health officials’ capacity to make future investment decisions. “With tools like FinTrak Budget solution, a lot of these challenges affecting full-budget implementation can be corrected. The improvements in technology would make things more transparent and monitoring easier. Technology can be said to be the solution to budget implementation problem. The Fintrak Budget solution aids MDAs with improved integration of planning/budgeting with robust reporting and analysis. It also brings competitive advantage to the office. This process justify the budget request in the long run by completing accounting processes and bringing accurate data that clearly predicts the oncoming expenses such as pools of stock and giving the

top executives an insight of future expenses limiting wastage,” Abioye said. He added: ”FinTrak Budget software offers customisation to suit your unique business environment and seamlessly integrates with your existing platform. FinTrak Budget software is an online, real-time fully integrated system with the ability to support multiple users with many budget versions. The solution also accommodates the preparation of budgets using the Bottom-Up, Top-Down, and Hybrid models as well as Zero-based and Incremental Based Budgeting.” He explained that the solution was designed with a rich set of functionalities like self service and budget simulations, scenario based versioning, seemless spreadsheet and application interchange.

T H I S D AY ˾ MONDAY, DECEMBER 20, 2021

BUSINESSWORLD

NEWS

Currency in Circulation Crosses N3trn Mark in November Kayode Tokede

The Central Bank of Nigeria (CBN) has disclosed that the currency in circulation grew by 6.2 per cent from N2.97trillion in October to N3.15trillion in November 2021. Currency in circulation hits the historical N3trillion mark in November 2021 as banks customers withdraw physical cash amid festive period. THISDAY gathered that currency in circulation in its Year-till-Date and Year-on-Year gained 11per cent and 18 per cent respectively. The apex bank on its official website reported N2.84 trillion currency in circulation for the month of September. Commenting, analyst and finance expert, Mr Rotimi Fakeyejo hinted that excess liquidity in the “Ber” months contributed to growth in currency in circulation, stressing that Nigerians are finding it difficult to embrace the

cashless policy of the CBN. According to him: “The market currently is awash with excess liquidity and it is due to season of the year. CBN interventions in the foreign exchange and other key sectors of the nation’s economy are factors contributing to hike in currency in circulation.” He explained further that Nigeria is still more of a cash economy, facing infrastructure challenges. “Someone can blame infrastructure deficit to CBN’s good intention of making Nigeria a cashless society. The infrastructure that will make the cashless policy work is missing compared to what we have in Kenya,” he explained. In August, the currency in circulation had fallen to N2.78trillion from N2.81trillion in July. In June, it was N2.74trillion and in May, N2.79trillio. It stood at N2.79trillion in April and N2.8trillion in March.

It amounted to N2.78trillion and N2.83trillio in February and January respectively. According to the CBN, the currency in circulation had increased by N465.47billion or 19.06 per cent, from N2.44trillion in 2019 to N2.91trillion in 2020. “In 2020, there were higher withdrawals by DMBs than deposits, due to the panic need to hold cash to deal with the emergencies and reduced banking hours due to restrictions to curb spread of the pandemic,” the CBN said. The apex bank said it developed and unveiled a clean note policy and banknote fitness guidelines in 2018 to preserve public trust and maintain the quality of circulated notes in the economy. The guidelines provide a blueprint of quarterly and yearly activities to ensure that this objective was achieved.

LCFE Lists Achievements, Unfolds Outlook for 2022 The Lagos Commodities and Futures Exchange (LCFE) has restated its commitment to advocacy as a strategy to create awareness on how the commodities exchange can grow the nation’s Gross Domestic Products in 2022. The Exchange, which commended the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) on their roles in ensuring uptrend of activities in the Nigerian commodities ecosystem, noted the need to address dearth of fungible instruments and put a proper risk management structure in place to activate trading in the ecosystem. In an interactive session with the Capital Market Correspondents over the weekend on, “LCFE’s Journey so far and Outlook for 2022,” the Managing Director and Chief Executive Officer, Mr Akin Akeredolu-Ale explained that for commodities ecosystem to

thrive and contribute to a country’s economic growth and development, instruments had to be created and rules and guidelines are being developed and approved. “Nigeria must have a full structure in place for commodities exchanges to operate optimally. It is like a green field in Nigeria. A lot of participants are used to trading equity and fixed income securities. At LCFE, our outlook for 2022 is more on advocacy to encourage trading in this Ecosystem, particularly our teaming youth population. We have fungible instruments. “We have commenced proof of concept trade as preparation to full trade. Commodities contribute about 70 percent to Nigeria’s Gross Domestic Product (GDP). The industry generates 80 percent employment. The focus of foreign countries on Nigeria and Africa is

commodities and most of the time not infrastructure, ”said Akeredolu-Ale. He explained that LCFE was already working on guidelines and frameworks for commodities notes, listing of Exchange Traded Funds (ETF), cold chain and logistics investments, stakeholders’ engagement and strategic partnerships. Earlier in his address, the Head of Operations, Dr Allwell Umunnaehila pinpointed some of the milestones of LCFE within its short period of existence, including On-boarding of Dealing Member firms, settlement Banks, signing of Service Level Agreement (SLA) with NIBSS, and Collateral Managers, commencement of trades, setting up of rules for private and public listings, incorporation of Tradenet and Spurtech and VPN connectivity for dealing member firms.

Ikoyi Building Collapse: IICC Urges FG to Make Health Insurance Compulsory Ebere Nwoji The Chairman of Insurance Industry Consultative Council (IICC). Muftau Oyegunle has called on federal government to make health Insurance compulsory in Nigeria. He made the call against the backdrop of the collapsed Ikoyi building, which killed no less than 45 people but was discovered to have lacked insurance cover, which would have brought succor to the deceased dependents. Oyegunle, speaking at the recent Annual Media Retreat organised by the IICC council for Insurance and Pension journalists at Asese, Ogun state said the federal government could achieve this by subsidising the premium paid by Nigerians on

the policy. He noted that this had been done successfully in other countries therefore was achievable in Nigeria. “It may interest you to know that common malaria kills more people in Nigeria than Covid.The recent Collapse of 21 storey 360 degrees apartment at Gerald Road, Ikoyi on November 1, 2021 where 45 deaths so far have been recorded with many wounded without any insurance cover exposed the level of decadence in our society. It simply revealed the level of culture of settlement in our country, “he said. Oyegunle, explained that the insurance industry would not be able to avoid the incident or do anything after the incident since they were not involved from the

beginning. He added that the industry was waiting for the response of the Lagos State Government whom he said would share in the blame of the collapsed building which obviously lacked insurance cover. Also Speaking, the Managing Director /CEO, Afriglobal Insurance Brokers Limited , Casmir Azubuike, while presenting his paper titled ‘Changing the face of Insurance Practice’, at the retreat, urged federal government to look into and regulate the high cost of building materials. He explained that due to the high cost of building materials, developers try to use substandard materials or cut corners to get things done to save cost thereby resulting in the collapse of buildings.

APMTerminals Apapa Handles 8.1millionTEUs in 15 years Nigeria’s largest container terminal, APM Terminals Apapa handled a little above 8.1 million twenty equivalent units (TEU) of containers in the past 15 years. Terminal Manager of APM Terminals Apapa, Steen Knudsen, said container volumes at the terminal have increased by an average of 23 percent annually over the past five years. “We handled 8,134, 847 TEUs of containers since 2006 and more than 650,000 TEUs per year in 2020 and 2021 – the majority of that being import volume. Over the last years we have managed to grow the business extensively – by 23 percent per annum on average. We are continuously making our terminal operations more efficient,” he said.

“While there is a compelling need to reduce the dwell time of containers at the terminal, there are several factors – most of them beyond the control of a terminal operator – that make it possible for consignees to keep their containers at the terminal for a long period of time. “As a terminal, we are interested in ensuring that dwell time remains as low as possible. However, there are processes in place that we are not in direct control of. These include customs clearing processes and related processes of other government agencies such as the National Drug Law Enforcement Agency (NDLEA), Standards Organisation of Nigeria (SON), National Agency for Food and Drugs Administration and Control (NAFDAC) and so on. These agencies

all have to approve the movement of cargo out of the port. The more in harmony this process can work, the faster the cargo can move through the terminal and hence reduce cost for the importers. “Another very relevant factor at the moment in terms of cargo flow is the foreign exchange rate to the US dollar, which is starting to hurt the Nigerian importers, and cargo seems to be slowing down simply because warehouses are getting full. Hence it is more likely that the container will stand in the seaport for a longer time, ”Knudsen said. He said the strategy of APM Terminals Apapa is to be the preferred logistics gateway into the Nigerian economy, and in doing so – to provide world-class services.

yWZ ^^/KE K& /Ed Z ^d WZ Yh >/&/ d/KE K& &KK Z d /> Z^ E t,K> ^ > Z^ &KZ t&W E/' Z/ Z &͘ t&WͲD 'Ͳ dͲ K/ͲϮϬϮϭͲϬϬϮ dŚĞ hŶŝƚĞĚ EĂƟŽŶƐ tŽƌůĚ &ŽŽĚ WƌŽŐƌĂŵŵĞ ;t&WͿ KĸĐĞ ŝŶ DĂŝĚƵŐƵƌŝ͕ ŽƌŶŽ ^ƚĂƚĞ Θ zŽďĞ ^ƚĂƚĞ͕ EŝŐĞƌŝĂ ǁŽƵůĚ ůŝŬĞ ƚŽ ĐŽŶƚƌĂĐƚ ƌĞƚĂŝůĞƌƐ ŝŶ ŵĂƌŬĞƚƐ ĂƌŽƵŶĚ ŽƌŶŽ Θ zŽďĞ ĨŽƌ ŝƚƐ ǀŽƵĐŚĞƌ ĨŽŽĚ ĂƐƐŝƐƚĂŶĐĞ ƉƌŽŐƌĂŵŵĞ ƚĂƌŐĞƟŶŐ ďĞŶĞĮĐŝĂƌŝĞƐ ŝŶ KZEK ; ďĂĚĂŵ͕ ƐŬŝƌĂͲhďĂ͕ ĂŶŬŝ͕ ĂŵďŽĂ͕ 'ƵďŝŽ͕ 'ƵǌĂŵĂůĂ͕ <ĂŐĂ͕ DĂĨĂ͕ DŽďďĂƌ͕ DĂŐƵŵĞƌŝ͕ DĂƌƚĞ͕ <ĂůĂďĂůŐĞ ʹ ZĂŶŶ͕ <ŽŶĚƵŐĂ͕ <ƵŬĂǁĂ͕ EŐĂůĂ͕ EŐĂŶǌĂŝͿ ĂŶĚ zK ; ƵƌƐĂƌŝ͕ &ƵŶĞ͕ :ĂŬƵƐŬŽ͕ ĂŶĚ <ĂƌĂƐƵǁĂ >' ƐͿ͘ ZĞƚĂŝůĞƌƐ ŵƵƐƚ ŚĂǀĞ ƌĞŐŝƐƚĞƌĞĚ ƐŚŽƉƐ ;ŵƵƐƚ ƉƌŽǀŝĚĞ ƚŚĞ ĐĞƌƟĮĐĂƚĞͿ͕ ǀĂůŝĚ ƚƌĂĚŝŶŐ ůŝĐĞŶƐĞƐ͕ ƉĞƌŵĂŶĞŶƚͬƐĞŵŝͲƉĞƌŵĂŶĞŶƚ ƐŚŽƉƐ ŝŶ ƚŚĞ DĂƌŬĞƚƐ ŽĨ ďĂĚĂŵ͕ ƐŬŝƌĂͲhďĂ͕ ĂŶŬŝ͕ ĂŵďŽĂ͕ 'ƵďŝŽ͕ 'ƵǌĂŵĂůĂ͕ <ĂŐĂ͕ DĂĨĂ͕ DŽďďĂƌ͕ DĂŐƵŵĞƌŝ͕ DĂƌƚĞ͕ <ĂůĂďĂůŐĞ ʹ ZĂŶŶ͕ <ŽŶĚƵŐĂ͕ <ƵŬĂǁĂ͕ EŐĂůĂ͕ EŐĂŶǌĂŝ Θ ĂǇĂŵĂƌŝ͕ 'ĂƌŝŶ ůŬĂůŝ͕ ĂƉĐŚŝ͕ ƵƌƐĂƌŝ͕ ĂŵĂŐƵŶ͕ EŐĞůǌĂƌŵĂ͕ :ĂŬƵƐŬŽ͕ :ĂďĂ͕ DŽŐƵƌĂŵ͕ >ĂĮĂ ůŽŝ >Žŝ͕ :Ăũŝ DĂũŝ͕ <ĂƌĂƐƵǁĂ ĂŶĚ tĂĐŚĂŬĂů ĂŶĚ ĂďůĞ ƚŽ ƉƌŽǀŝĚĞ ĨŽŽĚ ŝƚĞŵƐ ƚŽ ƚŚĞ ƚĂƌŐĞƚĞĚ ďĞŶĞĮĐŝĂƌŝĞƐ͘ /ŶƚĞƌĞƐƚĞĚ ƌĞƚĂŝůĞƌƐ ĂƌĞ ƌĞƋƵĞƐƚĞĚ ƚŽ Įůů ĂŶĚ ƐƵďŵŝƚ ƚŚĞ K/ ƌĞŐŝƐƚƌĂƟŽŶ ĨŽƌŵ ĂŶĚ ŽƚŚĞƌ ƌĞƋƵŝƌĞĚ ĚŽĐƵŵĞŶƚƐ ǀŝĂ ĞŵĂŝů ƚŽ EŝŐĞƌŝĂ͘ƉƌŽĐƵƌĞŵĞŶƚΛǁĨƉ͘ŽƌŐ ĐŝƟŶŐ ƚŚĞ ƌĞĨĞƌĞŶĐĞ ŶƵŵďĞƌ ĂƐ ƚŚĞ ƐƵďũĞĐƚ ŽĨ ƚŚĞ ŵĂŝů ŽŶ Žƌ ďĞĨŽƌĞ Ϭϱ :ĂŶƵĂƌǇ ϮϬϮϮ͘ ŌĞƌ ƌĞŐŝƐƚƌĂƟŽŶ͕ ƌĞƚĂŝůĞƌƐ ǁŝůů ďĞ ĂƐƐĞƐƐĞĚ ĂŶĚ ƐĞůĞĐƚĞĚ ĨŽƌ ƚŚĞ ĐŽŶƚƌĂĐƚƐ͘ ZĞƚĂŝůĞƌƐ ǁŝƚŚŽƵƚ ĞƌƟĮĐĂƚĞƐ ĂŶĚ ƉŚǇƐŝĐĂů ƐŚŽƉ;ƐͿ ǁŝůů ŶŽƚ ďĞ ĂƐƐĞƐƐĞĚͬ ƐĞůĞĐƚĞĚ͘ /ŶƚĞƌĞƐƚĞĚ ZĞƚĂŝůĞƌƐ ĐĂŶ ŐĞƚ ƚŚĞ ZĞŐŝƐƚƌĂƟŽŶ &Žƌŵ ĂŶĚ ŵŽƌĞ ŝŶĨŽƌŵĂƟŽŶ ŽŶ t&WΖƐ ƌĞƋƵŝƌĞŵĞŶƚƐ ďǇ ƐĞŶĚŝŶŐ ĂŶ ĞͲŵĂŝů ƚŽ͗ EŝŐĞƌŝĂ͘ƉƌŽĐƵƌĞŵĞŶƚΛǁĨƉ͘ŽƌŐ &Žƌ ĨƵƌƚŚĞƌ ŝŶĨŽƌŵĂƟŽŶ͕ ƉůĞĂƐĞ ĐĂůů ƚĞůĞƉŚŽŶĞ ŶƵŵďĞƌ͗ ĨŽƌ DĂŝĚƵŐƵƌŝ ϬϵϬϳϬϯϰϴϮϳϯͬϬϴϬϯϮϳϮϳϯϰϮ͘ ŶĚ ϬϳϬϯϰϱϱϰϬϲϳ ĨŽƌ zŽďĞ͘ ' /z d Z z E < ^ht < ^, t Z /</E sKh , Z͗ <ƵŶŐŝǇĂƌ tŽƌůĚ &ŽŽĚ WƌŽŐƌĂŵŵĞ ĚĂ ĂŬĞ ŬŝƌĂ ;t&WͿ Ă DĂŝĚƵŐƵƌŝ :ŝŚĂƌ ŽƌŶŽ Ă :ŝŚĂƌ zŽďĞ͕ EŝŐĞƌŝĂ ŶĂ ŐĂŝǇĂƚĂƌ ŬĂŶĂŶĂŶ ǇĂŶ ŬĂƐƵǁĂ ŵĂƐƵ ƐŚĂŐƵŶĂ Ă ŬĂƐƵǁĂŶŶŝ ĚĂ ŬĞ ĐŝŬŝŶ ŽƌŶŽ ĚĂ :ŝŚĂƌ zŽďĞ ĚŽŵŝŶ ƐƵ ƐŚŝŐŽ ĐŝŬŝŶ ƐŚŝƌŝŶ ǀŽƵĐŚĞƌ ĚĂ t&W ŬĞ ƐŚŝƌŝŶ ŐƵĚĂŶĂƌǁĂ Ă ďĂĚĂŵ͕ ƐŬŝƌĂͲ hďĂ͕ ĂŶŬŝ͕ ĂŵďŽĂ͕ 'ƵďŝŽ͕ 'ƵǌĂŵĂůĂ͕ <ĂŐĂ͕ DĂĨĂ͕ DŽďďĂƌ͕ DĂŐƵŵĞƌŝ͕ DĂƌƚĞ͕ <ĂůĂďĂůŐĞ ʹ ZĂŶŶ͕ <ŽŶĚƵŐĂ͕ <ƵŬĂǁĂ͕ EŐĂůĂ͕ EŐĂŶǌĂŝ ĚĂ ŬƵŵĂ :ŝŚĂƌ zK ; ƵƌƐĂƌŝ͕ &ƵŶĞ͕ :ĂŬƵƐŬŽ͕ ĂŶĚ <ĂƌĂƐƵǁĂ >' ƐͿ͘ DƵŶĂ ďƵŬĂƚĂƌ ǇĂŶ ŬĂƐƵǁĂ ƐƵ ŬĂƐĂŶĐĞ ůĂůůĞ ƐƵŶĂ ĚĂ ƌĂŐŝƐƚĂŶ ŽŽƉĞƌĂƚĞ ĸĂƌƐ ŽŵŵŝƐƐŝŽŶ ; Ϳ ĚĂ ůĂƐŝƐŝŶ ŬĂƐƵǁĂŶĐŝ ŬƵŵĂ ƐƵŶĂ ĚĂ ƐŚĂŐŽ Ă ĐŝŬŝŶ ŬĂƐƵǁĂŶŶĞ ŬĂŵĂƌ ďĂĚĂŵ͕ ƐŬŝƌĂͲhďĂ͕ ĂŶŬŝ͕ ĂŵďŽĂ͕ 'ƵďŝŽ͕ 'ƵǌĂŵĂůĂ͕ <ĂŐĂ͕ DĂĨĂ͕ DŽďďĂƌ͕ DĂŐƵŵĞƌŝ͕ DĂƌƚĞ͕ <ĂůĂďĂůŐĞ ʹ ZĂŶŶ͕ <ŽŶĚƵŐĂ͕ <ƵŬĂǁĂ͕ EŐĂůĂ͕ EŐĂŶǌĂŝ ĂŬƵŵĂ :ŝŚĂƌ zŽďĞ ; ƵƌƐĂƌŝ͕ &ƵŶĞ͕ :ĂŬƵƐŬŽ͕ ĂŶĚ <ĂƌĂƐƵǁĂ >' ƐͿ͘ zĂŶ ŬĂƐƵǁĂ ŵĂƐƵ ƐŚĂĂǁĂƌ ǁĂŶŶĂŶ ƐŚŝƌŝ ƐƵ ĐŝŬĂ ĨĂŵ ࠭ŝŶ ŬƵŵĂ ĂŝŬĂ ƐŚŝ ƚĂ ŚĂŶǇĂƌ ŝŵĞů ǌƵǁĂ EŝŐĞƌŝĂ͘ƉƌŽĐƵƌĞŵĞŶƚΛǁĨƉ͘ŽƌŐ ŬĂĮŶ ƌĂŶĂƌ Ϭϱ :ĂŶƵĂƌǇ ϮϬϮϮ͘ ĂǇĂŶ ǁĂŶŶĂ ƌŝŐŝƐƚĂ ǌĂΖĂ ƚĂŶƚĂŶĐĞ ǇĂŶ ŬĂƐƵǁĂ ŬĂĮŶ Ă ďĂĚĂ ĂŝŬŝŶ͘ ŽŵŝŶ ŶĞŵĂŶ ŬĂƌŝŶ ďĂǇǇĂŶŝ Ă ŬŝƌĂ ǁĂŶŶĂŶ ŶƵŵďĂƌ ǁĂǇĂ͗ Ă :ŝŚĂƌ ŽƌŶŽ ϬϵϬϳϬϯϰϴϮϳϯͬϬϴϬϯϮϳϮϳϯϰϮ͘ Ă ŬƵŵĂ ϬϳϬϯϰϱϱϰϬϲϳ͘

T H I S D AY ˾ MONDAY, DECEMBER 20, 2021

HOMES&DESIGN

SHIP HOUSE Retains Grandeur in Abuja

MONDAY, DECEMBER 20, 2021 ˾ T H I S D AY

HOMES&DESIGN

A Spin into Abuja Ship House The promoters of the famous Ship House in Abuja knew what they needed to do to realise their unmistakable vision of building a huge concrete ship on land. They spared no expense and created a sustainable masterpiece, which the military government, at that time, found irresistible, acquiring it as a defence headquarters building. Bennett Oghifo writes

or those who have not seen a real ship, the Ship House presents a veritable replica of what to expect whenever they find themselves at the seashore. It is an elegant, purpose-built edifice, complete with everything a mariner expects to find from the bottom deck up. It is a perfect fit from design to finish, and more importantly, it is a sustainable luxury structure and will remain ship-shape if well maintained. This Dreamliner on land, located in Abuja’s central business district, is where the Federal Ministry of Defence resides as its headquarters. The building houses the Nigerian Army, the Nigerian Air Force, the Nigerian Navy and other associated defence agencies and departments. Understandably, the Ship House is a restricted facility on account of the sensitive institutions that occupy it. Regardless, the building is a head-turner any day. The Ship House packs all the trimmings of a floating city, having different parts, including its three main parts – the hull, perhaps an engine room and a navigation bridge. The architects went through the motion of replicating everything that can be found in a real ship, such as rudder, anchor, bow, keel, accommodation, propeller, mast, bridge, hatch coves, and bow thrusters. In contrast, bulkheads, frames, cargo holds, hopper tank, double bottom, girders, cofferdams, side shell etc., are the invisible parts of a ship, which only a tour of the facility can reveal. There is also the Monkey Island, a deck located at the topmost accessible height of the ship and just above the bridge. This part of a ship is sometimes also referred to as a flying bridge and, in the past, was used by the sailors for solar and stellar observations. In addition, it houses a magnetic compass.

It is an integral part of ship and houses driving units such as VDR capsule, AIS Tx/Rx antennae, Radar scanner(s) attached to the radar mast, Sat C/F77 Tx/Rx antennae, communication equipment gear, various halyards connected to the yardarm to hoist flags, weather vane, and the masts leading up to the ‘Christmas Tree’ (navigation lights) and the ship’s aft whistle. To understand parts of a ship, one must have to go through some common terms. The most forward part of a ship is called a Bow; the left-hand side of the ship is referred to as port, whereas the right side is called starboard. Likewise, the front side is termed as forward and the backside as astern.

BRIDGE The ship’s bridge is the commanding station of a ship. It controls the ship movement through its navigational equipment. It controls important deck machinery, main engine and ship’s navigation system, its speed and direction (navigation). It also monitors weather and sea conditions, navigating and fixing the position of the ship, and facilitating internal as well as external communication.

FUNNEL A Funnel or Stacks is a chimney on a vessel used to discharge engine and boiler smoke. Lifting of the exhaust gasses, clear from the deck, is the constitutional purpose of the funnel.

ACCOMMODATION: The accommodation area is the house for crews and lives. It has all the amenities,

including offices, gym, crew cabins, hospital, salon, recreation room, common rooms, laundry, and galley. It is a key part of the ship and consists of the garbage disposal system, freshwater system, sewage treatment plant, refrigeration system (domestic) and air conditioning for the accommodation block. It is a necessary part of a ship, facilitating food courts and a relaxing medical facility.

FUNNEL DECK The funnel releases exhaust gases into the atmosphere from the engine exhaust room of the ship. It has a similar function to chimneys in factories. Nowadays, extra care has been taken in discharging shoot from the funnel to preserve the atmosphere from pollution. These funnels are never installed straight but inclined at a certain angle toward the aft so that the flue gases will not cause hindrance to the deck and navigation bridge.

BOAT DECK The deck floor covers the ship hull structure. There can be multiple decks or deck sections on a ship. The deck at the top, which bears maximum exposure to weather, is the main deck or weather deck. Based on the position of a ship’s deck, decks are of six main types; main deck, poop deck, upper deck, lowers deck, weather deck and foredeck. The boat deck’s main function is holding the hull structure, providing the floor to work and standing, guarding them against outside weather.

MAST The mast is a rangy spar arrangement that is elevated more or less vertically to the Centreline of a ship. It has several purposes, including carrying derricks and giving fundamental height to the navigation light, salient yards, radio or radar aerials, and scanners.

FLYING BRIDGE It is an extended area on top of a weather deck or an open area of the superstructure, which provides an unobstructed view of the fwd and aft along with the vessel’s sides to the navigational officers. It also serves as an operating station for the officer and crew of the watch. It also contains a duplicate set of controls, which is vital for the master, ship’s officers, and pilot for berthing and unberthing the vessel.

STEM The front-most part of the boat or ship’s bow is termed the ship’s stem. The keel itself is extended up to gunwale to form the ship’s stem’s curved edge. These stems can be raked, and plumb stems, where the former is inclined at some angle to the waterline and later is perpendicular to the waterline.

STERN The stern is an aft-end structure designed to provide low resistance, high propulsion efficiency, and avoid vibrations. It is the rearmost part of a ship that keeps the water out. Rudders and propellers are hanged to the stern. The stern can be shaped flat, canoe-like, tapered, sharp to serve the purpose of cutting the water in its way. The Ship House is built to perfection. It will endure if maintained.

MONDAY, DECEMBER 20, 2021 ˾ T H I S D AY

BUSINESSSPECIAL

Editor: Obinna Chima obinna.chima@thisdaylive.com 08024557078

With Rising Debt, Nigeria on the Razor’s Edge With its ever-rising debt proﬁle, Nigeria is walking on the razor’s edge, writes Obinna Chima

igeria’s total public debt which the Debt Management Office (DMO) last week revealed had risen from N35.465 trillion at the end of the second quarter of 2021, to N38.005 trillion ($92.626 billion) at the end of third quarter, remains a source of concern to every right-thinking citizen. Statistics from the debt office showed that the amount being owed by the country which is largely seen as unsustainable, comprised total external and domestic debts of the federal government, 36 state governments, and the Federal Capital Territory (FCT). According to the DMO, the increase of N2.540 trillion, when compared to the corresponding figure of N35.465 trillion at the end of Q2 2021, largely accounted for by the $4 billion Eurobonds issued by the federal government in September. This revelation came as the National Assembly same week approved fresh $5.803 billion and a grant component of N10 million external borrowing for the federal government, which would further elevate the debt level. With reduced inflows and the government’s weak revenue generating profile, analysts are worried that further indebtedness would not be sustainable and could lead to a debt crisis, especially if there is another plunge in crude oil prices, which is the country’s major source of forex exchange earning. In addition, the latest Central Bank of Nigeria’s economic report for August 2021, showed that non-oil revenue has not been impressive as the country recorded declines in corporate income tax (CIT) and non-tax revenue of the federal government. “At N903.63 billion, accrued federation revenue was 17.1 per cent and 11.8 per cent below earnings in July and the budget benchmark, respectively Movements in the Federation Account was dictated, largely, by shortfalls in non-oil revenue. “At N480.56 billion, non-oil earnings in August was 29.2 per cent below its level in the preceding month, following declines in all its components. “However, the largest declines were recorded in receipts from CIT and FGN independent revenue sources, both of which dropped by 42.5 per cent and 52.2 per cent, respectively,” the report added. The World Bank recently sounded the alarm bells to Nigeria, saying further delay in removing the fuel subsidy which had been described as a major drain and waste on the economy could see the federal and state governments unable to pay salaries from 2022.

The Lead Economist, Nigeria Country office of the World Bank, Marco Antonio Hernandez, painted a gloomy picture of Nigeria if the country decides to continue with the controversial fuel subsidy. Hernandez urged Nigeria to remove subsidy on petroleum motor spirit (PMS) in February 2022, as prescribed by the Petroleum Industry Act (PIA), warning that further delay could worsen the precarious revenue situation confronting the country. According to him, the present fiscal condition of the sub-national governments would take a turn for the worse in 2022 with 35 of the 36 states unable to meet their financial obligations. Hernandez stated that a situation where N250 billion goes into fuel subsidy monthly was unsustainable as the paucity of revenue confronts the country, especially the sub-national governments. Similarly, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, had lamented the huge burden the continuous retention of the subsidy on petrol had been to the corporation, warning that going forward, “the NNPC may have to start invoicing the federation to be able to maintain subsidy.” In the same vein, the Governor of Kaduna State, Mallam Nasir El-Rufai wondered why the country would continue to allocate more monies to fuel subsidy compared with the allocations to education, roads and the health sectors. “Is subsidising petrol more important than our health as even in a year we spent significant amount on health due to the pandemic, the budget for subsidy was still higher? Does it make sense? “Is subsidising petrol about thrice as educating our children and preparing them for the future more important? The capital budget for roads is five times less than our budget for subsidy. We have to ask ourselves as Nigerians whether this makes sense at all,” he added. According to El-Rufai, “this is the first time in Nigeria that oil prices are rising globally, yet, there is no windfall. In fact, we are getting less. Why? Because according to Kyari, subsidy is taking N250 billion per month.” He disclosed that this month, what the NNPC paid to the federation account, as part of its contribution to the amount to be shared by the Federation Account Allocation Committee (FAAC), was only

N14 billion as against the N120 billion stipulated in the budget, and, “with the threat that next month they would ask the federation account to give them a cheque to cover subsidy.” “So, we have to ask ourselves if this subsidy still makes sense. Who is benefiting from it other than the smugglers and neighbouring African countries and some rich people? We have to stop this thing that will bring Nigeria to its knees,” the state governor added.

DEBT SUSTAINABILITY CONCERN

Clearly, Nigeria is facing a balance of payment challenge which is made more difficult by its high debt level. The country is also feeling the strain of high debt service cost with only a small fraction of its financial receipts always available for the much-needed investment in infrastructure. The Chairman of President Muhammadu Buhari’s Economic Advisory Council (EAC), Dr. Doyin Salami, recently pointed out that the country’s current public debt stock is unsustainable even though the country’s debt-to-Gross Domestic Product (GDP) ratio at 35 per cent seems comfortable. Salami had also lamented that with debt service-to-revenue ratio at 97.7 per cent (January to May 2021), the country’s public debt profile was unmaintainable. According to Salami, the country’s debt stock was estimated to hit about N54 trillion when Ways and Means as well as the Asset Management Corporation of Nigeria (AMCON) liabilities and projected fiscal deficit for 2021 are put into consideration. Also, the Executive Vice Chairman, H. Pierson Associates Limited, Eileen Shaiyen, had warned that Nigeria’s debt level has become a major course for concern locally and abroad. She added that the country’s debt situation would best be appreciated against three key indices. These she listed to include the country’s debt-to-GDP ratio, and of more importance in this context, debt service to revenue ratio and debt to revenue ratio. According to her, while debt-to-GDP ratio had trended up from levels in 2016 at 23.41 per cent, 2017 at 25.34 per cent, 2018 at 27.26 per cent and 2019 and 2020 estimates were put at 29.78 per cent and 31.35 per cent, respectively against an

international threshold of 30 per cent. The other two ratios show even greater concern, she stressed. According to her, the country’s debt service to revenue ratio had also trended upwards from 2011 levels of 21.2 per cent, to 2015 at 51.9 per cent, 2016 at 86.6 per cent, 2017 at 78.6 per cent, 2018 at 67.7 per cent and first quarter (Q1) 2020 at 99 per cent. These, she pointed out was against the international threshold of 20 per cent to 25 per cent. “This trend is very worrisome when considering the future of the country’s very youthful population in need of a major boost in economic growth through major fiscal interventions to stimulate education, health, infrastructure, etc., as against putting such expenditure into the service of debt that is perceived to be largely mis-applied,” she emphasised. Similarly, in terms of debt-to-revenue estimated at 538 per cent in 2020, was against an international threshold of about 250 per cent. “The implication of this serious situation is the potential of an imminent debt trap in which the country will neither be able to meet its debt service obligations nor will it be able to meet its obligation to its 200 million citizenry through funding of its capital and recurrent expenditure. “This comes with numerous other socioeconomic consequences impacting on some of the key Sustainable Development Goals of poverty, hunger, health, education, as well as issues of social unrest, crime.” The Socio-Economic Rights and Accountability Project (SERAP) has also advised President Muhammadu Buhari to issue an immediate moratorium on borrowing by the federal government and the 36 states, in order to address a systemic debt crisis, prevent retrogressive economic measures and the disproportionately negative impact of unsustainable debt on the poor Nigerians. In the open letter dated 18 December 2021 and signed by SERAP’s Deputy Director Kolawole, Oluwadare, the organisation said a moratorium on borrowing would create a temporary debt standstill, and free up fiscal space for investment in Nigerians’ needs, as well as ensure sustainable economic and social recovery from the COVID-19 pandemic. SERAP said long-term unsustainable debt could be a barrier to the government’s ability to mobilise resources for human rights, and Continued on page 36

T H I S D AY ˾ MONDAY, DECEMBER 20, 2021

BUSINESS SPECIAL

PERSPECTIVE

WITH RISING DEBT, NIGERIA ON THE RAZOR’S EDGE

“The great double advantage here includes the increase in available government revenues from the subsidy removal, as well as the resulting attractiveness of the two sectors to muchneeded foreign direct Investment.” may lead to taxes and user fees that impact negatively on vulnerable and marginalised Nigerians. The letter, read in part: “SERAP is concerned about the lack of transparency and accountability in the spending of the loans so far obtained, and opacity around the terms and conditions, including repayment details of these loans. While the National Assembly has asked for these details in future loan requests, it ought to have seen and assessed the terms and conditions of these loans before approving them, in line with its oversight responsibility under the Nigerian Constitution of 1999 (as amended).” Despite yesterday’s explanation by the Director General of the DMO, Patience Oniha, that loans from China to Nigeria, which presently stood at $3.59billion were largely concessional as no national asset was tagged as collateral, the major concern for many Nigerians is that the increasing borrowing has mortgaged the future of this country and if care is not taken, as the DMO continues to advise the government to take more and more debts, the Nigeria may be plunged into insolvency by the huge repayment obligations.

WAY OUT

In order for Nigeria to come out of its perilous situation, the World Bank in its latest Nigeria Development Update had prescribed policy options for Nigeria, including addressing fiscal pressures. According to multilateral institution, urgent priorities for the country over the next three to six months should include reducing inflation, improving exchange-rate management, mobilising additional oil and nonoil revenues, eliminating petrol subsidy and redirecting expenditures towards targeted cash transfers and other priority investments, fostering competitive markets, and improving infrastructure. To Salami, in order to improve revenue, the government must block leakages, unlock opportunities at state level, improve tax efficiency and coverage, and sell-off dead assets, which are estimated at $900 billion. Salami, pointed out that the federal government’s expenditure had been on the increase, and at a faster pace than its revenue. He added that public debt had continued to expand on the back of growing fiscal deficit. Salami stated: “This subdued government revenue is as a result of constraints around domestic production/investment; low tax base, as tax revenue to GDP still revolves around seven per cent; limited effort to explore and unlock opportunities for revenue generation at state level; over-centralisation and issues relating to efficiency in revenue collection.” The economist pointed out that macroeconomic stability, consistency of policy and regulation, sectoral reforms, human capital development, and resolution of the security crisis were key to the economy’s ability to rebound. He also stated that the investment climate in the country currently faced major headwinds, as total foreign investment inflows into Nigeria remained low. Salami said FDI inflow into Nigeria had revolved around $1 billion in the last five years, adding that FDI inflow in the second quarter of 2021 was $78 million, even lower than Q2 2020.

He said the country’s investment climate was being constrained by macroeconomic instability, policy inconsistency, inadequate infrastructure, insecurity, as well as tough business climate. Salami said the way forward for the country was for the state Houses of Assembly to help in improving state competitiveness by reallocating spending priorities. He said more emphasis should be given to human capital development and the provision of social amenities for the populace. Among other things, Salami said they serve as champions of Ease of Doing Business, adding that the legislative bodies can review existing legal impediments to doing business in the states. The steps, according to him, would include amending tax laws; reforming procurement laws to support indigenous private sector; improving access to construction permits; and making it easier to register properties. Also, analysts at CGF Advisory had advised governments at all levels to adopt fiscal prudence to avoid a debt trap. The research and investment firm stressed the need for the federal government to determine its financing needs, set its borrowing limit and then comply with Fiscal Responsibility Act As part of its recommendations to reset the Nigerian economy, the firm stated that a major policy overhaul to reduce revenue vulnerabilities and budget deficits that jeopardise the economy, was needed. It pointed out that key policy reforms would be imperative to support and sustain macroeconomic stability. These, it listed to include, among others, a foreign exchange management framework that reflects the market fundamentals, the acceleration of the country’s economic diversification agenda, and the oil and gas sector reform, among others. In addition, it advised the federal government to cut overhead and recurrent expenditure, while increasing capital expenditure to total budget ratio. “There is an urgent need to reduce debt service to revenue ratio and also urgently raise non-oil revenue through programs such as initiatives to drive more people into the tax net and increase tax to GDP ratio. “Lending policy needs be revisited given concerns about deteriorating asset quality, tightening monetary policy to counter the rising inflation, each state government must pass a Fiscal Responsibility Act, and the Ministry of Finance, Budget and National Planning and other relevant bodies need to draft a successor medium-term development plan to succeed the Economic Recovery and Growth Plan (ERGP),” it stated. On her part, Shaiyen noted that having wasted numerous opportunities to proactively and decisively confront the issues responsible for this poor state of financial affairs, there is now an urgent call to leadership at the federal and state levels to embark on fundamental and structural changes to address this debt crisis. “A first good move is the plugging of all major revenue leakages and therefore reduce the governments’ dependence on debt financing. This makes the current decision to remove subsidies on electricity tariffs commendable if it can be committedly executed. “The great double advantage here includes the increase in available government revenues from the subsidy removal, as well as the resulting attractiveness of the two sectors to much-needed foreign direct Investment. The long-term impact for the power sector is the increased availability of power and the huge multiplier effect of that on the productive sector and overall GDP,” she added. Commenting further on revenues, the H. Pierson boss further noted that beyond plugging the leakages, ramping up revenues through initiatives that would attract private capital into optimising the natural resources in each of the 36 states was fundamental, while the government mainly takes a regulatory role. According to Shaiyen, each of the 36 states has massive natural resources that remain relatively docile, stressing that the government must fast-track initiatives that would unlock the private-sector-driven potentials in this sector, provide enhanced tax revenues to government and drive up overall GDP. Clearly, if debt service cost continues to claim an increasingly large proportion of government revenue, fewer resources would be available to the government to meet its other obligation and fund infrastructure, a situation which could see the government deploying borrowed funds to meet recurrent expenditure as had been alleged. This could result to adverse economic and social conditions. The government must therefore adopt arrangements such as public-private partnership and other creative financing strategies so as to reduce its debt burden.

Road to Financial Freedom

Osuagwu Remy Osuagwu

veryone desires to be financially free. This is because as humans, we naturally desire a better standard of living. Achieving a better living standard, however, most times is not achieved on a platter of gold. It is not a sprint but rather, a marathon. Every journey begins with a single step. The steps we choose to take in life, including the financial decisions we will make, go a long way in shaping the level of success we will attain. These decisions can either make or mar one’s journey to financial freedom. Attaining financial freedom is dependent on several factors including our income, expenses, lifestyle choices, investments, and savings. Whether you are an entrepreneur, corporate employee, self-employed professional, or you have a passive source of income like an inheritance, these aspects of business and economics play an important role in your finances. The major pathways I recommend to individuals who wish to achieve financial independence are savings and investments. By saving, one is setting aside income for emergencies or future uses. It is the preservation of funds that are not required for immediate consumption for a period of time. Saving means consuming less in the present to have more funds in the future. The act of saving requires dedication, consistency, and discipline. Investments on the other hand are assets or items acquired with the goal of generating income or appreciation of resources. Appreciation refers to an increase in the value of an asset over time. When an individual purchases an item as an investment, the intent is not to consume the item but to use it in the future to create wealth. Many Nigerians are however inclined towards consumption with minimal savings or investments due to several economic barriers. The lack of a savings culture negatively impacts our growth. Renowned economic analysts often base Nigeria’s present economic predicament on the absence of a savings culture. The country lacks infrastructural development because the government expenditure outweighs its savings. Policies must be put in place to encourage investments in key areas of the economy. To drive growth, more investments need to be made in infrastructure, which will yield positive outcomes in the future. Another factor that impacts our savings culture, is the current state of the economy. With household income declining while inflation rises, the average Nigerian finds it challenging to save. According to the National Bureau of Statistics (NBS), 40 per cent of the population, or almost 83 million people, live below the country’s poverty line of $1.90 a day. Prices of food items have greatly increased with the current inflation estimated at 13.25 percent. With such statistics, the propensity to save is low. However, these realities are also the reason why the savings culture should be aggressively imbibed. The importance of savings cannot be overemphasised, yet, people find it challenging to save. Saving funds is a positive habit all individuals must cultivate to achieve financial stability. Building wealth requires

making good financial decisions early. Having funds can bring about peace of mind. There is comfort in knowing that there is a stash somewhere to fall back on when there is an urgent financial need. A major advantage of saving is that it cushions the effect of unexpected occurrences. When emergencies occur, there is usually pressure to look for extra funds at very short notice. This problem can intensify if the emergency is a sudden illness or a job loss. A sudden loss of income can leave an individual in a precarious situation. Hence, having savings can be a great cushion of comfort whenever the need arises. Tales abound of individuals who have lost jobs but have a financial cushion as a result of their robust savings account, which stemmed from having inculcated a savings culture. There are also examples of individuals that have gone further into penury because they had no form of savings. Making a good investment is the key to building future wealth. Choosing where to invest and what to invest in, are crucial factors on the road to financial freedom. Buying stocks, from a firm like Stanbic IBTC, which offers zero fees to open a stock brokerage account, is a great way to invest funds. Stanbic IBTC’s pedigree and proven track record of wealth management, has helped many investors to attain stability and financial growth. Asides from stocks and securities trading, you can purchase assets that will create long-term value, depending on how much you want to invest. To be financially free, certain steps must be taken. The first step on the journey to financial freedom is a carefully planned budget. In my experience, setting clear financial goals and mapping finances into fixed, variable and unforeseen expenses will help one to effectively sort out monetary priorities. Secondly, having funds available for retirement is a wise and strategic plan towards achieving financial independence. A lot of people find it hard to save money for retirement because of future uncertainties. They fear they may not live long enough to use such savings. The prevalent thinking is that we need to enjoy now because no one knows tomorrow. Nonetheless, it is better to save, which may come in handy for an individual’s beneficiaries in the unfortunate event of death. It is also prudent to have a pension plan coupled with savings retirement funds. Making a habit of saving a small percentage of one’s income over several years can accumulate into a substantial amount of retirement assets. This will make retirement much more comfortable. To encourage a savings culture in Nigeria, Stanbic IBTC is supporting individuals with a Reward4Savings promo. The promo entails saving small funds and getting cash rewards. A robust savings will ensure that an individual is on the path to financial stability. Finally, to achieve financial freedom, an individual must plan and protect his or her wealth and assets. Having a sound financial plan and adequate insurance in place is the best course of action. In the words of Warren Buffet, “Do not save what is left after spending, but spend what is left after saving.” t 0TVBHXV JT UIFø)FBE #VTJOFTTøBOE $PNNFSDJBM $MJFOUT 4UBOCJD *#5$ #BOL 1MD

MONDAY, DECEMBER 20, 2021 ˾ T H I S D AY

BUSINESS SPECIAL

ANALYSIS

ASR Africa: Promoting Sustainable Devt Obinna Chima writes on the interventions of the ASR Africa, a brainchild of Abdul Samad Rabiu, in critical sectors in Africa

he Sustainable Development Goals (SDGs) are a call for action by all countries – poor, rich and middleincome – to promote prosperity while protecting the planet. The targets set up in 2015, by the United Nations General Assembly (UN-GA) and are intended to be achieved by 2030, recognise that ending poverty must go hand-in-hand with strategies that build economic growth and address a range of social needs including education, health, social protection, and job opportunities, while tackling climate change and environmental protection. “We need to turn the recovery into a real opportunity to do things right for the future,” UN Secretary-General António Guterres, had said, considering the threat the COVID-19 continues to pose to the world. “The pandemic is an unprecedented wake-up call, laying bare deep inequalities and exposing precisely the failures that are addressed in the 2030 Agenda for Sustainable Development and the Paris Agreement on climate change,” the UN had stated. Leveraging this moment of crisis to support countries in continent achieve the SDG targets, the Founder/Chairman of the BUA Group, Alhaji Abdul Samad Rabiu, earlier this year launched a $100 million Annual Africa Fund for Social Development and Renewal The Abdul Samad Rabiu Initiative (ASR Africa) is an endowment fund that would every year, starting from this year 2021 be committing $50 million to Nigeria and $50 million to the rest of the continent. Over the years as a corporate, and through the BUA Foundation, his company had been actively involved in corporate philanthropy in various sectors – from health, education, community development, water & sanitation, sports, and even more recently, our work on COVID-19. However, with the ASR Africa, Rabiu is extending his philanthropy to education, health and social development sectors, starting with infrastructure and capacity development and supporting the efforts of various governments in Nigeria and Africa. “Our broad focus is equipping facilities, our researchers, healthcare practitioners and community-level service providers, with the aim of providing sustainable solutions for generations to come. They say life begins at 50; what they never tell you is that a pandemic can change your life at 60. “In that year 2020, when I turned 60, at least two million others turned into memories, taken by this deadly virus. I watched millions become numbers in a global death toll and ancestors in the world beyond. The same pandemic that forced us humans to slow down, now forces our humaneness to square up. The plans I once took time to construct, now take up all my time. “The challenges are manifold in various areas of our lives, from education, on to healthcare, and throughout social development. “Therefore, based on the results of extensive deliberation over the course of a year, our first cohort for Nigeria will be N1 billion each in grants to six universities in the six geopolitical zones in Nigeria, towards the initiation and upgrading of infrastructure, where applicable. The universities in the first phase include Ahmadu Bello University, University of Maiduguri, University of Nigeria, University of Benin, University of Ilorin, and University of Ibadan. These grants will be directed towards projects that will be delivered by the Abdul Samad Rabiu Initiative for the project duration,” the BUA founder had explained during the unveiling of the initiative. He had pledged that for accountability, the ASR Africa would present annual reports, with all activities overseen by a sterling board of trustees. Rabiu also urged beneficiaries, end-users as well as custodians of the projects to hold the Abdul Samad Rabiu Initiative to account; contact, commend, recommend or register their complaint.

ASR AFRICA INTERVENTIONS The ASR Africa began its disbursement at

Rabiu the Ahmadu Bello University, Zaria, where it provided a grant of N1 billion to the institution. The grant was for the provision of a hostel and department building as identified by the university. Rabiu, who was represented by Dr. Aliyu Idi Hong, expressed optimism that the intervention would go a long way in bridging the infrastructure deficit in education within Nigeria and other African Countries in our cohort. “We are excited about the endless possibilities that lie ahead of Africa and because The Time for Nigeria and Africa is now, and business development is nothing without citizens’ development.” “On behalf of the ASR Africa Initiative, we look forward to commencing the work to build for the benefit of Africa’s children and her future,” Rabiu said at the ABU. At the University of Ibadan, where it also donated N1 billion as part of its Tertiary Education Grant Scheme, was also meant for the provision of students’ housing and a faculty building. On his part, the Vice Chancellor of the University, Prof. Adebola Ekanola noted that the intervention would help meet some of the institution’s pressing needs which would also impact on its capacity to achieve the core objectives. “We believe that these projects we are proposing for the grant sponsorship will empower the University of Ibadan to be more efficient and effective in teaching, research and community services. It will also empower us to train our students in ways that would make them to be globally competitive. “This initiative will go a long way in revamping our educational sector in Nigeria

with specific reference to the university system in the country,” he added. The University of Maiduguri was the third educational institution to benefit from the N1 billion Tertiary Education Grants Scheme and it was meant for the development of a Centre for Innovation and Product Development at the UNIMAID Entrepreneurship and Enterprise Development (UM-CEED) Complex. The Vice Chancellor of the university, Prof. Aliyu Shugaba praised the founder of the initiative for his consistent commitment to social good and philanthropy and extolled the good works ASR Africa was doing in various communities across Africa. At the University of Ilorin which also benefited from the N1 billion educational infrastructure grant as part of the Tertiary Education Grants Scheme, the fund was to develop a state-of-the-art learning facility. Also, the ASR Africa and Kwara State government jointly announced the construction of the largest oncology and diagnostic centre in West Africa to be built with a N2.5 billion grant. Speaking at the presentation of the grant and visit to the proposed site, Kabiru Rabiu, Group Executive Director of BUA Group, who represented the Chairman said the project aligns with the vision of the ASR Africa Initiative. The ASR Africa Oncology and Diagnosis Centre is a standalone facility dedicated to Oncology diagnosis, research and treatment, and this would go a long way in bridging the gap in cancer research, diagnosis and treatment in West Africa. In his response, Governor AbdulRahman AbdulRazaq of Kwara described the oncology and diagnosis centre as a legacy project

that would last beyond all, saying for years to come it would be a priority project which would anchor the state’s health care system. Also, the University of Benin benefitted from the N1 billion Tertiary Education Grants Scheme. Vice Chancellor, University of Benin, Prof. Lilian Salami, said the fund would enable the university meet some of its pressing development needs which will positively impact the quality of education being delivered at the university. She further added that the school was looking to develop a University of Benin/ASR Africa ICT Centre with the grant. The Nnamdi Azikiwe University in Anambra also benefitted from the N1 billion Tertiary Education Infrastructure Grant for the construction of a student complex in the institution. Vice Chancellor of the University, Charles Esimone, said the institution had proposed to build a multipurpose student center which would house the SUG complex, indoor facilities for students, acting theatre for students and other facilities. In Akwa Ibom State, the ASR Africa provided a N5 billion grant to the state government targeted at healthcare and social development. This grant award letter which was presented to the state governor, Udom Emmanuel in Uyo, was also to support the construction of Akwa Ibom Teaching Hospital. Speaking at the presentation, Kabiru Rabiu, who representing the Chairman of ASR Africa and BUA Group, had said the ASR Africa had approved the immediate and initial disbursement of N2.5billion from the total sum to a jointly managed fund guaranteeing the commencement of the programme. In his remarks, Udom praised the Founder of the Initiative, Abdul Samad Rabiu for his consistent commitment to social good and philanthropy. He also added that the projects to be funded by the grant would be jointly approved and implemented in line with the ASR Africa Grants Utilisation Framework. Furthermore, Udom said the state would continue to do more to boost social development and improve the healthcare infrastructure for its citizens considering the great strides have already been made. On his part, Managing Director of ASR Africa, Ubon Udoh, stressed that the purpose of the initiative was to give back to the society. In Ogun State, it also donated three brand new fully equipped Ambulances to the state government. Furthermore, the ASR Africa expanded its 2021 programme with a N10 billion grant towards healthcare interventions in four states – Ogun, Sokoto, Kwara and Edo States. Udoh explained that the expanded grant was for healthcare interventions from maternal and child health to health infrastructure, capacity development, amongst others. “We will develop mutual accountability frameworks with the state implementation teams after which fifty percent of the grant will be disbursed immediately to commence implementation of the projects. The remaining 50 per cent percent will be released in line with agreed delivery milestones” Ubon added. In keeping with its promise to support other African countries, ASR Africa also donated $3 million to Ghana as well as $500,000 to the Rebecca Foundation in Ghana. It is also constructing a neonatal unit at the Gwarinpa General Hospital; constructing the Sokoto State University College of Medical Sciences with N2.5 billion; recently handed over a newly built 150-bed, N4 billion hospital to Nigeria Police in Abuja and donated three ambulances to Ekiti State, to bolster healthcare in the state.

CONCLUSION Why the ASR Africa is doing its best to promote sustainable development in critical sectors in Nigeria and Africa, the continent still requires a lot more intervention. Therefore, there is need for other private sector investors to also intervene to create a better and more just world for future generations.

T H I S D AY ˾ THURSDAY DECEMBER 20, 2021

CITYSTRINGS

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

Four Years After, Katsina Yet to Track Rustled Cattle with MTN Microchip Francis Sardauna writes on the need for the Katsina State government to implement the MTN Animal Identification and Management Solution programme to curb cattle rustling in the state

Governor Masari

here was jubilation galore in Katsina State when MTN Nigeria and Katsina State government partnered to fight the age-long menace of cattle rustling using advanced technology known as the Animal Identification and Management Solution (AIMS). Now, the joy of the residents seems to be diminishing following the inability of the duo to implement the project in the state. The advanced technology, which many believed to be the first of its kind in the country, was officially launched at the Runka Game Reserve, Safana Local Government Area of the state on December 2, 2017 by the MTN Nigeria. The MTN AIMS enables law enforcement agencies, veterinary inspectors, cattle market operators, transporters, abattoirs and animals' owners to determine animal ownership through the use of Handheld RFID scanners and a short code. The RFID scanners can be used by law enforcement agents and others to read the unique identification code. The code is then sent via SMS to 58123, and the sender will then receive an SMS with details of the owner of the animal. With the launch of the AIMS, animal owners across the 34 local government areas of the state were expected to visit their local veterinary to get their animals microchipped (injected) with an MTN AIMS RFID microchip. The RFID microchip, according to MTN Nigeria, is a battery-free, implantable microchip sealed in biocompatible glass covered by a sheath. When in close contact with an animal RFID scanner, a unique and pre-programmed identification number is displaced. The MTN further explained that the RFID microchip is passive, meaning it does not send or receive any signal. Thus, making it safer for both the animal and the consumer of the animal product. The identification code is unique to each microchipped animal and is appended to the animal owners' profile on MTN Animal Identification and Management Portal. Therefore, owners of livestock, pets and other animals, can be reached if their lost or stolen animals are found, security agencies can determine animal ownership and thus discourage and intercept animal rustlers, herders can send distress calls via MTN AIMS app on their phone

in the event of an emergency. The origin of animals can be traced which is essential for disease surveillance and control. Buyers can also determine ownership of cattle at point of purchase. The MTN AIMS provides a further step towards Nigeria's participation in the international livestock export market for which identification is a prerequisite. THISDAY gathered that the launch of the MTN AIMS in Katsina followed extensive consultation and live demonstrations conducted with leaders and members of the Miyetti Allah Cattle Breeders Association (MACBAN) in other key northern states of Kano and Kaduna. Despite the launching of the MTN Animal Identification and Management Solution four years ago, rustling of cattle, sheep, goats and other domestic animals in the state by marauding bandits remained a daily occurrence. The excitement of residents over the inauguration of the project apparently became agony following the inability of the duo to implement it. Investigation further revealed that both the MTN, security agencies, animal owners and the Katsina state government are unable to track even a single rustled cattle or other domestic animals carted away by bandits with the device within the period under review despites billion of naira reportedly expended on the execution of the project in the state. For instance, between 2017 and 2019, THISDAY checks revealed that no fewer than 10,000 cows, including sheep and goats, have been rustled by the hoodlums

in different deadly attacks on farming communities in Batsari, Safana, Faskari, Jibia, Kankara, Dutsin-ma, Sabuwa, Danmusa and Dandume Local Government Areas of the state. The state government also confirmed that between July and August, 2021 alone, 141 cases of animal rustling were reported with 1,347 cows, 345 sheep, 119 goats and 13 donkeys rustled in frontline local government areas of the state by the bandits. The Secretary to the State Government (SSG) Dr. Mustapha Mohammed Inuwa, while reviewing the state's Security Containment Order at a press conference held at the Government House, added that between September and October, 2021, 676 cows, 109 sheep and 160 goats were rustled by the hoodlums and the animals are nowhere to be found despite the existence of the MTN AIMS in the state. Similarly, in January 2021, bandits, armed with AK-47 rifles, (riding on motorcycles), attacked Gidan-Dukar village in Kankara. According to residents, the men of the underworld rustled 63 cows, sheep and goats. The hoodlums numbering over 50 launched fresh onslaught on the village on November 14, 2021, where they carted away an unspecified number of cows but police operatives were able to recover 38. In the same vein, on October 6th, 2021, the bandits rustled over 40 cows and sheep in an attack on Yasore Community in Batsari Local Government Area of the State and killed 10 villagers. The bandits also attacked the Barawa community in Batagarawa Local Government Area on

So if the MTN can complement the effort of security agencies with their microchips which they promised to use on cows so that we can know the whereabouts of our cows it will drastically reduce the issue of cattle rustling especially in frontline local government areas

21 November, 2021 and rustled 300 animals. As of the time of filing this report, the rustled animals were yet to be recovered. The state chapter of Miyetti Allah Kautal Hore, also confirmed the inability of the MTN Nigeria to implement its four-year-old project in the state. The Fulani socio-cultural association described the MTN Animal Identification and Management Solution as a dead on arrival project. The Public Relations Officer of the association Abdullahi Izima Yamadi, told THISDAY in a telephone interview that: "As far as we are concerned that project has never seen the light of the day. It was a dead on arrival project because we have never seen any impact of that project up to now". He added, "I believe the Katsina State Government has done its part. It is only the consultant or the company that has not done their own part. If the project had succeeded, all these issues of cattle rustling and banditry would have been a thing of history". "Apart from the launching of the project, nothing has been done. MTN should come and actualise the project. MTN promised to do the other technical jobs and I believe they have not done their own. "So, we are calling on them to come and actualise the project so that the issue of cattle rustling will be a thing of the past. If the project is fully implemented, the issue of cattle rustling will be tracked down". He, however, explained that security agencies in the state, especially the DSS and the police were doing their best "because I am aware of some of the recoveries they have made with regard to the usage of their tracking devices". "So if the MTN can complement the effort of security agencies with their microchips which they promised to use on cows so that we can know the whereabouts of our cows it will drastically reduce the issue of cattle rustling especially in frontline local government areas", he added. Consequently, there is urgent need for MTN Nigeria and the Katsina government to implement their four-year-old Animal Identification and Management Solution (AIMS) project in the state to tackle the prevailing cases of cattle rustling besetting the state. The full implementation of the project would complement security agencies' effort in tracking rustled animals and stem banditry.

T H I S D AY ˾ THURSDAY DECEMBER 20, 2021

CRIME&SECURITY

Sahara Foundation Boosts Access to Clean Energy at Lagos Police Station

Sahara Group Director of Governance & Sustainability, Mrs. Pearl Uzokwe with DCP Ewah, Ibafon traditional ruler and Sahara Foundation Board Member, Dr. Anthony Youdeowei Precious Ugwuzor

ahara Foundation, the Sahara Group corporate citizenship vehicle, is working with the Nigeria Police to provide access to clean energy and improved power supply at the Trinity Police Command, Ibafon, Apapa, Lagos. The project is expected to enhance efforts aimed at securing lives and property in the neighborhood. Sahara Foundation’s intervention includes a hybrid solar power system solution which supplies power to sections of the police station including the communications center, administrative offices, common areas and control room. In addition, civil, structural and renovation works were conducted at

Unveiling the structure before hand over

the facility to give it a 21st century and more modern ambience Earlier this year, the Foundation’s Board identified the need to support police stations in a bid to support operations and promote better policing. After a careful needs assessment, Trinity Police Command, Ibafon was identified as one of the beneficiary stations. The Trinity Police Command, located within the Apapa Local Government Area caters to the security needs of members of the Ibafon community with an estimated population size of about 217,661 people. An official handover ceremony was held on Wednesday, September 29, 2021, hosted by the Divisional

Police Officer for Trinity Police Command, CSP Agene James Olah and graced by the Lagos State Commissioner of Police represented by DCP Sam Bassey Ewah, Lagos State Deputy Commissioner of Police. Also present at the event were representatives from the office of the Traditional leaders of Ibafon Community, Sahara Group representatives including Director of Governance & Sustainability, Mrs. Pearl Uzokwe, Sahara Foundation Board Member, Dr. Anthony Youdeowei and Sahara Foundation Manager, Oluseyi Ojurongbe. This initiative is part of Sahara Foundation’s efforts to highlight its new focus areas- Access to Clean

Energy and Promoting Sustainable Environments. Speaking at the hand over event, Uzokwe said Sahara Group remained committed to providing platforms for promoting the Sustainable Development Goals working through Sahara Foundation and regional and global stakeholders. “Effective policing is essential for sustainable development, and we are delighted to work with the Nigeria Police to boost security of lives and property in Nigeria,” she said. Sahara’s focus to boost access to energy access stems from the United Nations Sustainable Development Goal 7- “to ensure access to affordable, reliable, sustainable and modern energy for all by 2030”.

Yuletide: FRSC Intensiﬁes Effort to Checkmate Road Accidents Becky Uba Umenyili

The Federal Road Safety Corp (FRSC) has intensified efforts to checkmate the usual road accidents which occur incessantly at year–end periods, in order to safeguard lives especially during the yuletide. The Sector Commander of the Lagos State Command of the FRSC, Mr. Olusegun Ogungbemide in an exclusive interview explained that the sector has embarked on public sensitisation programs to educate the public on safety issues, particularly on the need to avoid over-speeding which he says has been observed from statistics as the major cause of most road accidents, especially at nights. Ogungbemide also said the sector has commenced the federal governmentsponsored MBR (Motor Bike Rescue) scheme whereby motorised bike which takes two staff, inclusive of a paramedics (for first aid purposes), is employed for immediate rescue mission. He said the scheme is a faster means of saving lives in the case of any road mishap to avoid delay due to traffic bottlenecks, while awaiting the arrival of a well-equipped ambulance vehicle. He noted that the command will continue to collaborate with other security agencies to achieve relative safety on roads, especially this season. He appealed to construction companies to ensure that equipment that constitute road-blocks, are off the way for safe driving. On the issue of the COVID-19 protocols which seem to have relaxed since the easing of the lockdown, the commander noted that the sector has not relented in the effort to enforce it on motorists, particularly commercial ones, but that

FRSC personnel

more attention is concentrated on sensitising the public on the importance of safety measures on the roads. Meanwhile, during the workshop for driving schools’ Instructors in Nigeria which the command organised recently, it was observed that human incompetence has been the major cause of road traffic crashes resulting in grave fatalities. Thus, the Driving School Standardi-

sation Programme (DSSP), which was introduced in 2010 to ensure standard and uniformity in drivers’ education, has been used by the Corp to collate data, introduce Computer Base Test (CBT) and conduct training to equip the instructors with the "requisite knowledge and skills for safe driving on Nigerian roads". Also in line with its collaborative effort, the sector command partnered Guinness Nig. Plc recently in

Lagos to organise a programme tagged “Ember Month, Don’t Drink and Drive, Stay Alive”, during which the Zonal Commander of Lagos FRSC, ACM Peter Kibo, highlighted the health hazards of drinking and driving to discourage victims of such acts Meanwhile, the Managing Director of Guinness Plc, Mr. Baker Magunda assured that his organisation will always partner the command "in fulfilling the Corp mandate".

T H I S D AY ˾ ˜ DECEMBER 20, 2021

BUSINESS/MONEYGUIDE

Proposed Customs Service Bill Will Weaken Economic Zones, Says NEPZA James Emejo ÓØ ÌßÔË The Nigeria Export Processing Zones Authority (NEPZA) has raised objection to sections of the proposed Custom Service Reform Bill, pointing out that they tended to weaken and subvert the country’s special economic zones. In its submission during a public hearing on the bill at the House of Representatives, NEPZA explained that the free zones are areas designated as such by the president to serve as one-stop-shop investment hub wherein incentives are provided in form of tax holidays, simplified Customs and Immigration processes, amongst others, with a view to attracting investors. The authority authority argued that the proposed amendment bill seeking to give the service powers to make regulations in the

zones will “weaken and subvert” their laudable objectives. It said, the One-Stop-Shop concept, in furtherance of which regulations were made for all the active free zones, with the involvement of customs and all relevant stakeholders, would be eroded if the provisions of the bill were allowed. In a statement issued by its spokesman, Mr. Martins Odeh, NEPZA added that by providing regulations for the free zones, the customs would be setting a dangerous precedent, as other agencies would want to follow suit. The free zones’ regulator, further maintained that the development if not nipped in the bud, would result in either multiple regulations that might be contradictory thereby creating avoidable legal tussles or make registration of enterprises

unnecessarily cumbersome and unattractive. It stated, “The proposed sections of the bill which seek to make the Free Zones CustomsControlled Zones invariably seek to create antithetical Free Zones Customs Territory alien to the global free trade zone model used around the world. While listing specific areas of the bill it finds objectionable, the authority stated that it had through the operations of the free zones contributed tremendously to the national economy, noting that the Lekki Free Zone Quadrant that comprised Lekki Free Trade Zone, Lagos Free Zone, Dangote Free Zone Enterprises and the Alaro City Free Zone as well as the Calabar Free Zone and the Kano Free Zone were alluring testaments of how it continued to fast track the country’s Industrialisation.

L-R: Business Development Manager, Wema Bank Oyemekun Branch, Kehinde Aturamu, Wema Bank Regional Cluster Head, Ondo and Ekiti, Kolawole Mustapha, Business Development Manager, Wema Bank Futa Branch, Folakemi Adegbenro, Zonal Manager, Wema Bank Ondo Zone ‘Niyi Owaduge at the 5 for 5 promo draws held recently in Ondo State

MARKET INDICATORS

NGX Lists Ronchess Global Resources 91m Shares on Growth Board Kayode Tokede

Nigerian Exchange Limited (NGX), has announced the listing of Ronchess Global Resources Plc and also facilitated the financing of over N5 trillion in capital raised by governments and corporates so far in 2021. The Chief Executive Officer, NGX, Temi Popoola made this known during the Closing Gong Ceremony to commemorate the successful listing of 91,000,000 ordinary shares of Ronchess on the Growth Board of the exchange, held last Friday. Represented by the Divisional Head, Listing Business, NGX, Olumide Bolumole,Popoola stated that the NGX All Share Index (ASI) has continued to remain resilient in the face of major macro-economic shocks including; increased insecurity, foreign exchange volatility amongst others. He noted that In spite of the challenges, the NGX have continued to play its role as a

capital aggregator connecting investors with opportunities across sectors including in infrastructure through companies such as Ronchess, “In the course of year, our support for capital raising have continued with NGX facilitating the financing of over N5 trillion in capital raised by governments and corporates”. Whilst congratulating Ronchess Global Resources’ effort in listing its shares, the NGX CEO said, the exchange is quite optimistic that the listing will spur activities on the Growth Board even as it continues to encourage businesses to list their securities in the market and investors to deploy capital across its various financial products. “Today’s new entrant to NGX, Ronchess, is a leading provider of traffic solutions, construction, and procurement services in Nigeria with a large client base cutting across corporates and MDAs. This listing signals the importance of the Growth

Board and reinforces NGX’s commitment to supporting issuers in achieving their strategic objectives, “he said. In his remarks, Managing Director, Ronchess Global Resources Plc, Mr. Jackson Ukuevo, express a profound gratitude to the board and management of Nigerian Exchange Limited and Securities and Exchange Commission (SEC) for the regulatory approval given to Ronchess to list on NGX today. Having successfully listed on the growth board of NGX, almost double the valuation on the main board requirement of NGX and weigh in the essence of the growth board valuation requirement. He further thanks all the professional parties to this transaction; Signature Advisory Limited - the Institutional Service Provider, FSDH Capital Limited - the Broker to the transaction and Mainstreet Capital Limited - the Financial Adviser among others for their hard work and dedicated efforts towards the actualization of a successful listing.

PenCom Reassures on Safety of RSA Contributions James Emejo ÓØ ÌßÔË The National Pension Commission (PenCom) has said it is committed to ensuring that all pensioners under the Contributory Pension Scheme (CPS) are fully recaptured and uniquely identified on the database to ensure that only bonafide Retirement Saving Account (RSA) holders have access to their contributions. Head, National Data Bank Management Department, PenCom, Mrs. Grace Usoro, told THISDAY the data recapture exercise for government agencies remained critical for the commission adding that it would continue until “we ensure that the last contributor that registered before the cut-off date of July 2019 has been fully recaptured.” About 9, 000 contributors will be required to update their information in order to remain eligible RSA. Speaking shortly after an inspection of one of the data recapture centres operated by Payone Solutions Systems, in Abuja, she explained that

exercise which is undergoing its pilot phase was to enable the agents capture contributors who registered under the CPS before July 2019. She pointed out that at that date, the commission was able to deploy an enhanced registration system which had inbuilt controls and requirements that met the minimum thresholds set by the National Identity Management Company (NIMC) for registration of individuals under the scheme. According to Usoro, the development meant that the “contributors that registered before July 2019 did not meet this minimum threshold”. She said, “So the data recapture exercise has been instituted to afford those contributors the opportunity to bring their records up to date.” Also commenting on the development, Commissioner Technical Department, PenCom, Mr. Anyim Nyerere, clarified that the essence of the exercise which would be fully escalated by January was to ensure that all contributors under the CPS has an updated information with

the commission as well as the Pension Fund Administrators (PFAs). He said in order to speed up this exercise under the scheme and give opportunity for contributors to update their records, the PFAs had decided to appoint two agents that are approved by the commission to embark on data recapturing which is expected to last about a year. He said the data capture agents have been “commissioned to do this exercise on behalf of the PFAs.” Nyerere said, “The interesting aspect of this exercise is that it affords us the opportunity to enable all the contributors that don’t have their National Identity Number (NIN) to use this opportunity provided by this exercise to obtain their NIN. “There is a symbiotic relationship between the agents operating this with the National Identity Management Commission (NIMC). The agents are authorised to register people and obtain their NIN and NIN registration is a prerequisite to data recapture”.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, OCTOBER 7

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

T H I S D AY ˾ ˜ Ͱͮ˜ ͰͮͰͯ

Gains in Dangote Cement, Others Spur N253bn Growth in Market Cap Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) closed on a positive note last week as investors renewed interest in blue chips listed companies. Amid the bargain hunting activity on the NGX All-Share Index rose week-on-week (Wo-W) by 470.34 basis points or 1.12 per cent to close at 42,353.31 basis points. Similarly, market capitalisation rose by N253 billion

W-o-W to close at N21.107 trillion. Gains in MTN Nigeria by 7.2 per cent, TOTAL Energies Plc that gained 2.4 per cent, and Dagote Cement that appreciated by 1.2 per cent supported the weekly market gain. Based on the preceding, the stock market in its Month-till-Date (MTD) and Year-till-Date (YtD) return closed at -2.1per cent and +5.2per cent, respectively. Also, most of the sub-indices tracked closed in green. The NGX

P R I C E S MAIN BOARD

F O R

DEALS

Insurance, NGX Consumer Goods and the NGX Industrial indices gained 0.04 per cent, 0.63 per cent and 0.38 per cent to close at 190.93 points, 550.41 points and 2,081.14 points respectively. However, the NGX Banking and the NGX Oil & Gas indices fell by 1.82 per cent and 0.57 per cent to close at 395.38 points and 350.65 points respectively. The market breadth for the week was positive as 32 equities appreciated in price, 28 equities

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

depreciated in price, while 96 equities remained unchanged. Meyer Plc led the gainers table by 27.27 per cent to close at 42 kobo, per share. ROYAL Exchange followed with a gain of 15.00 per cent to close at 69 kobo, while FTN Cocoa Processors went up by 13.51 per cent to close to 42 kobo, per share. On the other side, Champion Breweries led the decliners table by 13.65 per cent to close at N2.34, per share. UPDC followed

T R A D E D MAIN BOARD

A S

with a loss of 10.17 per cent to close at N1.06, while e-Tranzact International declined by 9.57 per cent to close at N1.89, per share. Overall, a total turnover of 1.317 billion shares worth N15.330 billion in 18,292 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 2.630 billion shares valued at N26.900 billion that exchanged hands previous week in 20,848 deals. The Financial Services Industry

O F

(measured by volume) led the activity chart with 899.768 million shares valued at N7.325 billion traded in 9,326 deals; contributing 68.32 per cent and 47.78 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 209.502 million shares worth N2.796 billion in 2,866 deals, while the Conglomerates Industry traded a turnover of 93.813 million shares worth N663.135 million in 485 deals.

1 7 / 1 2 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

T H I S D AY • MONDAY, DECEMBER 20, 2021

20 December 2021 ŽŵĞƐƟĐ ƋƵŝƟĞƐ DĂƌŬĞƚ͗ >ŽĐĂů ŽƵƌƐĞ ZĞǀĞƌƐĞƐ Losses͙ ^/ ƵƉ ϭ͘ϭй ǁͬǁ

THISDAY AFRINVEST 40 INDEX

ĞƐƉŝƚĞ ǁĞĂŬ ŝŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƌĞĐŽƌĚĞĚ Ă ŵĂƌŐŝŶĂů ŐĂŝŶ ůĂƐƚ ǁĞĞŬ ĂƐ ƚŚĞ E'y ůů-^ŚĂƌĞ /ŶĚĞǆ ƌŽƐĞ ϭ͘ϭй ǁͬǁ ƚŽ ƐĞƩůĞ Ăƚ ϰϮ͕ϯϱϯ͘ϯϭ ƉŽŝŶƚƐ͘ ĐĐŽƌĚŝŶŐůǇ͕ zd ƌĞƚƵƌŶ ŝŵƉƌŽǀĞĚ ƚŽ ϱ͘Ϯй ;ƉƌĞǀŝŽƵƐůǇ

ϰ͘ϬйͿ ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďǇ േϮϱϮ͘ϴďŶ ǁͬ ǁ ƚŽ ƌĞĂĐŚ േϮϭ͘ϭƚŶ͘ ĐƟǀŝƚǇ ůĞǀĞů ĚĞĐƌĞĂƐĞĚ ĂƐ ĂǀĞƌĂŐĞ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ƐŚĞĚ ϰϵ͘Ϯй ĂŶĚ ϰϯ͘Ϭй ǁͬǁ ƚŽ Ϯϲϯ͘ϰŵ ƵŶŝƚƐ ĂŶĚ േϯ͘ϭďŶ ƌĞƐƉĞĐƟǀĞůǇ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ

Current Price

THISDAY AFRINVEST 40

1,857.14

0.11%

955.00

0.0%

33.6%

74.50

0.0%

10.3%

-3.7%

25.60

-0.8%

7.0%

-20.9%

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

ƐƚŽĐŬƐ ďǇ ǀŽůƵŵĞ ǁĞƌĞ & E, ;ϭϱϮ͘ϳŵ ƵŶŝƚƐͿ͕ ^^

8 Lafarge Africa PLC 9 Access Bank PLC

;ϵϵ͘ϰŵ ƵŶŝƚƐͿ͕ ĂŶĚ hE/dz E< ;ϴϲ͘Ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ

10 United Bank for Africa PLC 11 FBN Holdings Plc

& E, ;േϭ͘ϴďŶͿ͕ DdEE ;േϭ͘ϰďŶͿ͕ ĂŶĚ E' D

12 Nigerian Brew eries PLC 13 Stanbic IBTC Holdings PLC

;േϭ͘ϭďŶͿ

14 International Brew eries PLC 15 Flour Mills of Nigeria PLC

ůĞĚ

ďǇ

ǀĂůƵĞ͘

ĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁŝƚŚŝŶ ŽƵƌ ƉƵƌǀŝĞǁ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďƵůůŝƐŚ ůĂƐƚ ǁĞĞŬ ĂƐ ϰ ŽƵƚ ŽĨ ϲ ƐĞĐƚŽƌƐ ŐĂŝŶĞĚ͘ >ĞĂĚŝŶŐ ƚŚĞ ŐĂŝŶĞƌƐ͕ ƚŚĞ &Z-/ d ŝŶĚĞǆ ŝŶĐŚĞĚ ŚŝŐŚĞƌ ďǇ ϯ͘ϱй ǁͬ

ǁ ĨŽůůŽǁŝŶŐ ďƵǇ ŝŶƚĞƌĞƐƚ ŝŶ DdEE ;нϳ͘ϮйͿ ĂŶĚ t' ;нϱ͘ϵйͿ͘ dƌĂŝůŝŶŐ͕ ƚŚĞ ŽŶƐƵŵĞƌ ĂŶĚ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚŝĐĞƐ ƌŽƐĞ Ϭ͘ϲй ĂŶĚ Ϭ͘ϰй ǁͬǁ ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ

35.8x

6.7x

3.9%

3.9x

1.0x

11.7%

25.8%

0.7x

5.3%

2.8%

24.80

0.0%

6.4%

0.0%

20.9%

2.8%

3.4x

0.7x

11.9%

29.7%

1.2%

6.0%

4.1%

40.4%

16.7%

12.7x

4.9x

6.3%

7.9%

187.00

0.0%

5.1%

10.1%

179.2%

14.1%

13.5x

20.5x

5.6%

7.4%

1,395.00

0.0%

3.5%

-7.3%

106.8%

15.6%

27.1x

31.8x

4.3%

3.7%

24.00

0.0%

3.6%

14.0%

11.6%

8.4%

9.0x

1.0x

4.2%

11.1%

9.05

0.6%

2.9%

7.1%

17.0%

1.4%

2.5x

0.4x

9.3%

39.4%

8.00

1.9%

2.4%

-7.5%

2.0x

0.4x

6.9%

49.7%

12.05

0.4%

3.9%

68.5%

3.7%

14.1%

48.00

0.0%

1.7%

-14.3%

36.00

0.0%

1.8%

-4.7%

8.4%

0.8%

7.1x

0.6x

-14.3%

5.3%

1.9%

44.2x

2.3x

2.3%

-4.7%

15.4%

2.0%

8.3x

1.3x

11.3%

12.1%

-10.3%

-3.9%

1.6%

61.6%

3.4%

18 Okomu Oil Palm PLC 19 Fidelity Bank PLC

142.00

0.0%

1.2%

56.0%

2.52

0.0%

0.7%

0.0%

9.05

-4.7%

1.0%

50.8%

17.00

2.1%

0.5%

-3.4%

3.00

0.0%

0.5%

-9.9%

1.51

0.7%

0.3%

-26.0%

10.1%

0.9%

24 NASCON Allied Industries PLC 25 Transnational Corp of Nigeria

13.20

2.3%

0.3%

-9.0%

21.3%

0.97

-1.0%

0.4%

7.8%

26 Presco PLC 27 Unilever Nigeria PLC

87.80

0.0%

0.3%

23.7%

13.35

0.8%

0.2%

-4.0%

6.25

5.9%

0.2%

17.9%

0.9x

-11.7%

4.4x

0.7x

5.8%

22.9%

1.9%

15.0x

0.5x

6.3%

6.7%

38.8%

25.2%

9.7x

3.4x

5.2%

10.3%

12.0%

1.1%

2.2x

0.3x

8.7%

14.8%

0.9%

2.5x

0.3x

0.0%

20 Ecobank Transnational Inc 21 Dangote Sugar Refinery PLC 22 FCMB Group Plc 23 Sterling Bank PLC

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

44.9% 40.1%

1.7x

8.8%

3.3x

0.3x

3.3%

6.9%

12.4x

2.5x

3.0%

8.1%

11.1%

2.3%

5.1x

0.5x

1.0%

19.4%

2.1x

1.2%

-1.3%

-0.8%

5.0%

1.2x

30.5%

-1.1% 4.0%

9.95

0.5%

0.4%

111.3%

2.2x

7.0%

39.00

0.0%

0.4%

105.3%

8.1%

3.8%

13.9x

1.1x

1.2%

7.2%

7.80

0.0%

0.2%

33.3%

24.7%

7.5%

3.8x

0.9x

7.1%

26.0%

0.68

0.0%

0.2%

40.4%

41.7%

7.2%

1.1%

377.8x

0.7x

221.90

0.0%

0.3%

70.7%

1.8%

19.8%

24.80

0.0%

0.2%

40.7%

20.7%

2.5%

4.3x

0.8x

1.7%

23.1%

0.76

-1.3%

0.1%

10.1%

13.7%

0.8%

3.6x

0.5x

5.3%

27.9%

-5.2%

0.0%

7.1%

0.8%

5.2x

0.5x

5.4%

4.70

0.0%

0.1%

27.0%

14.5%

2.6%

2.0x

0.3x

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%

27.0%

T o p 10 G a i n e r s

0.3%

5.0x

2.3x 4.7x

19.3% 49.4% -20.3%

0.6x

2.0%

21.4%

0.9x

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

P ric e

P ric e C hg %

P H A R M D EKO

2.20

10.0%

IN T B R EW

83.7

3.2%

R OYA LEX

0.69

9.5%

UA C N

62.8

-1.0%

M B EN EF IT

0.26

8.3%

FB NH

32.4

0.4%

R EGA LIN S

0.41

7.9%

A C C ESS

29.2

0.6%

WA P IC

0.51

6.3%

Z EN IT H B A N K

21.9

0.0%

6.25

5.9%

ST ER LN B A N K

16.1

0.7%

C WG

1.08

5.9%

UB A

8.3

1.9%

T ic k er

Vo lum e

P ric e C hg %

4.3%

LIVEST OC K

1.90

5.6%

SOVR EN IN S

6.7

SOVR EN IN S

0.24

4.3%

M B EN EF IT

5.4

8.3%

IN T B R EW

4.85

3.2%

H ON YF LOUR

4.4

-7.6%

T o p 10 L o s e r s T ic k er

17.2%

1.9%

255.00

0.0%

ƵŶĚĞƌƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ͘ dŚŝƐ ǁĞĞŬ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ

ƌĞǀŝĞǁ ƚŚĞŝƌ ƉŽƌƞŽůŝŽ ĂŚĞĂĚ ŽĨ ŶĞǆƚ ǇĞĂƌ͘

11.2%

650.00

T ic k er

ĚƌŝǀĞŶ ďǇ ďĂƌŐĂŝŶ ƉƵƌĐŚĂƐĞ ĂƐ ŝŶǀĞƐƚŽƌƐ ĐŽŶƟŶƵĞ ƚŽ

19.1% 24.8%

16 SEPLAT Energy PLC 17 11 PLC

36 Union Bank of Nigeria PLC 37 Oando PLC

ŵĂƌŬĞƚ ƚŽ ĞǆƚĞŶĚ ƚŚŝƐ ǁĞĞŬ͛Ɛ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ͕

-3.7% -20.9%

8.8%

ƐŝĚĞ͕ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ ƐŚĞĚ ϭ͘ϴй ĂŶĚ

dZ E d ;-ϵ͘ϲйͿ͕ ĂŶĚ hd/y ;-ϵ͘ϰйͿ ǁĞƌĞ ƚŚĞ ƚŽƉ

5.2%

-18.5%

34 Julius Berger Nigeria PLC 35 Wema Bank PLC

&dE K K ;нϭϯ͘ϱйͿ ǁŚŝůĞ , DW/KE ;-ϭϯ͘ϳйͿ͕

3.5%

14.7%

8.8%

ŐĂŝŶƐ ŽĨ ϰďƉƐ ǁͬǁ ŝŶ ƚŚĞ /ŶƐƵƌĂŶĐĞ ŝŶĚĞǆ͘ KŶ ƚŚĞ ŇŝƉ

week were D z Z ;нϮϳ͘ϯйͿ͕ ZKz > y ;нϭϱ͘ϬйͿ͕ ĂŶĚ

15.0%

12.1%

-18.5%

32 AIICO Insurance PLC 33 TotalEnergies Marketing Nigeri

Ϯϳ ƐƚŽĐŬƐ ǁŚŝĐŚ ůŽƐƚ͘ dŚĞ ƚŽƉ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ĨŽƌ ƚŚĞ

Divindend Earnings Yield Yield

85.7%

1.2%

h^dK / E ;нϵ͘ϵйͿ ĂŶĚ Z ' >/E^ ;нϮ͘ϱйͿ ĚƌŽǀĞ ŵŝůĚ

ƌĞĐŽƌĚĞĚ ƚŚĞ ƉƌĞǀŝŽƵƐ ǁĞĞŬ ĂƐ ϯϬ ƐƚŽĐŬƐ ŐĂŝŶĞĚ ĂŐĂŝŶƐƚ

5.0x

P/BV

12.1%

1.1%

ϰ͘ϯйͿ͘

P/E

26.5%

3.2%

ĂŶĚ E' D ;нϭ͘ϮͿ͘ ^ŝŵŝůĂƌůǇ͕ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ǁĞĂŬĞŶĞĚ ƚŽ ϭ͘ϭǆ ĨƌŽŵ ϭ͘Ϯǆ

ROA

0.0%

30 Guinness Nigeria PLC 31 Custodian and Allied Insurance

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

ROE

4.85

ďĂĐŬ ŽĨ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ s/d &K D ;нϱ͘ϰйͿ͕ W ;нϰ͘ϮйͿ͕

ϯ͘ϰйͿ͕ E/d, ;-Ϯ͘ϳйͿ͕ K E K ;-ϰ͘ϳйͿ͕ ĂŶĚ d ZE ;-

Price Change Index to Date

28.30

28 PZ Cussons Nigeria PLC 29 United Capital PLC

Ϭ͘ϲй ǁͬǁ ƐĞƋƵĞŶƟĂůůǇ ĚƵĞ ƚŽ ƐĞůů ƉƌĞƐƐƵƌĞ ŽŶ 'd K ;-

Previous Price Current Price Change Weighting Change YTD

Ticker

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

P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

C H A M P ION

2.34

-10.0%

UA C N

600.9

-1.0%

H ON YF LOUR

3.40

-7.6%

D A N GC EM

583.7

1.2%

A C A D EM Y

0.48

-5.9%

Z EN IT H B A N K

550.8

0.0%

C OUR T VILLE

0.36

-5.3%

IN T B R EW

409.4

3.2%

UB N

4.60

-5.2%

FB NH

397.9

0.4%

ET I

9.05

-4.7%

A C C ESS

275.0

0.6%

CHA M S

0.21

-4.5%

M TNN

213.1

0.0%

ET ER N A

5.55

-4.3%

GT C O

80.6

-0.8%

UP D C

1.06

-3.6%

UB A

65.9

1.9%

C A D B UR Y

8.70

-3.3%

N EST LE

53.6

0.0%

MONDAY DECEMBER 20, 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 16Dec-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 162.81 164.23 0.58% Afrinvest Plutus Fund 100.00 100.00 9.05% Nigeria International Debt Fund 317.91 317.91 -17.76% Afrinvest Dollar Fund 101.75 102.90 -7.12% 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 10.05% AIICO Balanced Fund 3.31 3.37 -3.96% info@anchoriaam.com ANCHORIA ASSET MANAGEMENT LIMITED Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 8.74% info@anchoriaam.com Anchoria Equity Fund 136.36 138.02 2.52% Anchoria Fixed Income Fund 1.15 1.15 -13.87% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 20.13 20.74 11.00% ARM Discovery Balanced Fund 450.59 464.18 12.54% ARM Ethical Fund 39.26 40.45 16.47% ARM Eurobond Fund ($) 1.07 1.08 -1.89% ARM Fixed Income Fund 0.99 1.00 -5.36% ARM Money Market Fund 1.00 1.00 10.28% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 107.87 107.87 6.06% AVA GAM Fixed Income Naira Fund 1,062.94 1,062.94 6.29% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.05 2.05 -2.88% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.19 2.24 0.96% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name CardinalStone Fixed Income Alpha Fund CHAPELHILL DENHAM MANAGEMENT LTD Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Chapelhill Denham Money Market Fund Paramount Equity Fund Women's Investment Fund CORDROS ASSET MANAGEMENT LIMITED Web: www.cordros.com, Tel: 019036947 Fund Name Cordros Money Market Fund Cordros Milestone Fund Cordros Dollar Fund ($) CORONATION ASSEST MANAGEMENT Web:www.coronationam.com , Tel: 012366215 Fund Name Coronation Money Market Fund Coronation Balanced Fund Coronation Fixed Income Fund EDC FUNDS MANAGEMENT LIMITED Web: www.ecobank.com Tel: 012265281 Fund Name EDC Nigeria Money Market Fund Class A EDC Nigeria Money Market Fund Class B EDC Nigeria Fixed Income Fund EMERGING AFRICA ASSET MANAGEMENT LIMITED Web:www.emergingafricagroup.com/emerging-africa-assetmanagement-limited/, Tel: 08039492594 Fund Name Emerging Africa Money Market Fund Emerging Africa Bond Fund

Bid Price Offer Price Yield / T-Rtn 1.04 1.04 5.47% investmentmanagement@chapelhilldenham.com Bid Price 100.00 16.98 139.57

Offer Price Yield / T-Rtn 100.00 9.77% 17.30 6.20% 141.16 4.87% assetmgtteam@cordros.com

Bid Price 100.00 131.40 110.32

Offer Price Yield / T-Rtn 100.00 8.76% 132.23 12.09% 110.32 5.79% investment@coronationam.com

Bid Price N/A N/A N/A

Offer Price Yield / T-Rtn N/A N/A N/A N/A N/A N/A mutualfundng@ecobank.com

Bid Price Offer Price Yield / T-Rtn 100.00 100.00 7.57% 1,000,000.00 1,000,000.00 8.61% 1,176.94 1,201.60 2.43% assetmanagement@emergingafricafroup.com

Bid Price 1.00 1.04

Emerging Africa Balanced Diversity Fund 1.12 Emerging Africa Eurobond Fund 104.41 FBNQUEST ASSET MANAGEMENT LTD Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price FBN Bond Fund 1,385.87 FBN Balanced Fund 173.16 FBN Halal Fund 115.23 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

122.13 147.46 Bid Price 1.00 4.00 1.72 1.20

Offer Price 1.00 1.04

Yield / T-Rtn 7.93% 3.73%

1.12 11.05% 104.41 4.36% invest@fbnquest.com Offer Price 1,385.87 174.30 115.23 100.00

Yield / T-Rtn 11.32% 3.83% 9.31% 9.23%

122.13 3.97% 149.46 11.73% fcmbamhelpdesk@fcmb.com Offer Price 1.00 4.00 1.75 1.20

Yield / T-Rtn 7.46% 3.37% 12.74% 6.00%

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 N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.48 1.50 8.33% Lotus Halal Fixed Income Fund 1,157.02 1,157.02 8.40% 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 11.55 11.64 10.33% Meristem Money Market Fund 10.00 10.00 10.11% 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) 101.58 101.59 7.59% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.94% 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 13.21% PACAM Fixed Income Fund 11.13 11.16 -8.35% PACAM Money Market Fund 10.00 10.00 8.09% PACAM Equity Fund 1.42 1.44 -10.01% PACAM EuroBond Fund 112.44 114.73 2.56% 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 129.35 131.88 5.50% 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 1.08 1.08 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 3,374.58 3,406.91 5.02% Stanbic IBTC Bond Fund 235.32 235.32 4.66% Stanbic IBTC Ethical Fund 1.25 1.27 6.78% Stanbic IBTC Guaranteed Investment Fund 312.36 312.36 6.01% Stanbic IBTC Iman Fund 234.60 238.21 7.52% Stanbic IBTC Money Market Fund 100.00 100.00 7.80% Stanbic IBTC Nigerian Equity Fund 10,968.30 11,127.35 4.53% Stanbic IBTC Dollar Fund (USD) 1.29 1.29 5.16% Stanbic IBTC Shariah Fixed Income Fund 116.75 116.75 5.10% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 106.04 106.04 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 1.34 1.37 4.90% United Capital Bond Fund 1.95 1.95 6.51% United Capital Equity Fund 0.91 0.94 14.70% United Capital Money Market Fund 1.00 1.00 8.99% United Capital Eurobond Fund 122.07 122.07 6.61% United Capital Wealth for Women Fund 1.07 1.09 5.28% United capital Sukuk Fund 1.07 1.07 7.17% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.04 13.15 9.87% Zenith ESG Impact Fund 14.47 14.62 9.61% Zenith Income Fund 24.82 24.82 3.41% Zenith Money Market Fund 1.00 1.00 7.07%

REITS NAV Per Share

Yield / T-Rtn

124.98 54.46

10.62% 7.74%

Bid Price

Offer Price

Yield / T-Rtn

13.57 127.68 101.37 17.43 21.36

13.67 130.85 103.59 17.53 21.46

5.48% 6.18% 2.17% -5.17% 16.09%

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

3.92 5.44 17.48 1.00 20.58 157.40

4.02 5.54 17.68 1.00 20.78 159.40

4.65% -4.21% 7.98% 0.00% 0.31% -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.

MONDAY DECEMBER 20, 2021 • T H I S D AY

MONDAY, DECEMBER 20, 2021 • T H I S D AY

NEWS

OCEAN CITY LAGOS READY TO GO... L-R: Senior Advocate of Nigeria, Doyin Rhodes- Vivour; Former Justice of the Supreme Court of Nigeria, Bode Rhodes-Vivour; Senior Advocate of Nigeria (SAN), Mike Ozekhome; Managing Director, Ocean City Lagos, Dewunmi Osagie; President, Lagos Chamber of Commerce, Michael Olawale-Cole; Representative of the Minister of Information, Samson Oboli, and Deputy Director, Federal Ministry of Works and Housing, Sunday Ododa, at the Launch of Ocean City Lagos… recently

Lawan: Buhari Trying His Best, But Nigeria Not Yet Out of the Woods Deji Elumoye in Abuja President of the Senate, Dr. Ahmad Lawan yesterday did an appraisal of the federal government and concluded that though President Muhammadu Buhari was trying his possible best, Nigeria was still going

through trying times. He also pledged the continued support of the National Assembly to the Buhari’s administration in its efforts to deliver on its campaign promises to the citizenry. Lawan, who spoke in Gombe, at the launch of empowerment

Fresh $5.8bn Loan: SERAP Writes Buhari, Seeks Moratorium on Borrowing Udora Orizu in Abuja The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to immediately issue moratorium on borrowing by the federal government and the 36 states in order to address what it described as a systemic debt crisis, prevent retrogressive economic measures and the disproportionately negative impact of unsustainable debt on the poor Nigerians. The request followed the recent approval by the National Assembly of President Buhari’s request for a $5.8 billion loan and grant of $10 million. In the open letter dated December 18, 2021, and signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation said a moratorium on borrowing would create a temporary debt standstill, and free up fiscal space for investment in Nigerians’ needs, as well as ensure sustainable economic and social recovery from the COVID-19 pandemic. SERAP said long-term unsustainable debt could be a barrier to the government's ability to mobilise resources for human rights, and may lead to taxes and user fees that impact negatively on vulnerable and marginalised Nigerians. The letter, read in part: “SERAP is concerned about the lack of transparency and accountability in the spending of the loans so far obtained, and opacity around the terms and conditions, including repayment details of these loans. “While the National Assembly has asked for these details in future loan requests, it ought to have seen and assessed

the terms and conditions of these loans before approving them, in line with its oversight responsibility under the Nigerian Constitution of 1999 (as amended). “The federal government and many of the 36 states would seem to be in debt distress or at high risk of debt distress.” According to reports, the Senate and House of Representatives recently approved the loans of $5,803,364,553.50 and a grant component of $10m under the 2018-2020 External Borrowing (Rolling) Plan of the Federal Government. Several of the 36 states are also facing a debt crisis, and vicious debt cycles, it noted. According to the Debt Management Office, the foreign debt stock of the federal government, 36 state governments and the Federal Capital Territory presently stands at $37.9 billion. “The loans from China alone amount to $3.59 billion. According to the UN Independent Expert on foreign debt and human rights, Nigeria faces debt service relative to tax revenues that exceed 20 per cent, with escalating social tensions linked to poverty and inequality. “The growing level of borrowing by your government and the 36 states is clearly a human rights issue because when the entire country is burdened by unsustainable debts, there will be little money left to ensure access of poor and vulnerable Nigerians to basic public services. “SERAP shall take all appropriate legal actions to compel your government and the 36 states to comply with our requests,” it wrote to the president.

programme of Senator Sa'idu Ahmed Alkali (APC Gombe North) for his constituents, said Buhari had never rested for a second in his determination, in his desire to turn around the fortune of the country. He said: "President Muhammadu Buhari who is the leader of this party (APC) in this country, who has given us great leadership from 2015 to date, who has shown great desire to turn around the fortune

of this country, has never rested for a second. "He is doing his best even though we are still not out of the woods but we have done so much between 2015 and 2021." The Chairman of the National Assembly also stated that the National Assembly will continue to support President Buhari to deliver on promises made to the Nigerian people. "By the Grace of God, the National Assembly will continue

to support Mr President to ensure that he delivers on our campaign promises to Nigerians," Lawan said. The Senate President commended the Governor of Gombe State, Muhammad Inuwa Yahaya who is also of APC for the significant transformation brought to the state. He applauded Senator Alkali for providing quality representation for his people

at the National Assembly. Lawan urged the Gombe people to consider giving both the Governor and the Senator another chance to continue with the good work they are doing for them. At the event which held at the APC Square, Senator Alkali gave out Peugeot 406 cars, several hundreds of motorcycles, farming implements, sewing machines and refrigerators to his constituents.

Kogi: NUJ, NGE Warn Politicians against Destructive Politics of 2023 The Nigeria Union Journalists (NUJ) and the Nigerian Guild of Editors (NGE) have warned politicians against what they described as politics of destruction ahead of the 2023 general elections. The two media bodies gave the warning at a special reception by the Crime Reporters Association of Nigeria in honour of Governor Yahaya Bello of Kogi State, held in Lagos, yesterday. The National President, NUJ, Chris Isiguzo, and the President, NGE, Mustapha Isa, particularly commended Bello for turning the security situation in Kogi State around for good, saying those bent on undermining winning strategies to score political points should not play with the lives of Nigerians. According to a statement, the

Crime Reporters Association of Nigeria said members of the association organised the reception in honour of the governor to show appreciation to him for being the first governor in Nigeria to train crime reporters and also empower them to perform their roles better in these trying times. CRAN President, Sunday Odita, said a leader who attached so much importance to security was one who deserved higher assignments. Bello was represented at the event by the Kogi State Security Adviser, Commander Jerry Omodara (retd). The NUJ President said, "When you talk about security, you talk about Governor Yahaya Bello. I know what the security situation used to be before he came on board in Kogi, and I

know what it is now. I want to use this opportunity to appeal to our political actors, we don't need to destroy the country because of politics. "It does appear that some political actors want to puncture the strides of the Governor in this area, knowing full well what is coming up in 2023. We have only one country we can call our own, which is Nigeria. We have had leaders in the past, they have come and gone, if they destroyed the country, there would be no Nigeria today. "Yahaya Bello is doing wonderfully well in the area of security. Politicians should not undermine his strategy all in the name of politics." On his part, the NGE President, Mustapha Isa, said, "We should not mix politics with the issue of security. When we talk about the worrying

insecurity in the country, some Governors join us in lamenting, they run to Abuja looking for support. When you ask them, they tell you they are not responsible. So why do they collect security votes monthly? "One of those who do not lament, but tackle the menace headlong is Governor Yahaya Bello. That is why he is being honoured today. So, I tell our politicians, never mix politics with security. We should support those getting it right like Governor Bello to continue in that line, and also learn from them, not do everything to puncture our gains at the expense of the people." In his response, Bello said the state had responded promptly and successfully to some pockets of violence, noting that an announcement would be made on the issue very soon.

Over 10,000 Youths to Benefit as Edo, MasterCard Foundation Launch Entrepreneurship Programme Adibe Emenyonu in Benin City No fewer than 10,000 youths in Edo State are expected to benefit from the Transforming Nigeria Youths (TNY) Entrepreneurship programme, recently inaugurated by the state government in partnership with the Enterprise Development Centre and MasterCard Foundation. The Managing Director, Edo Skills Development Agency, EdoJobs, Ukinebo Dare, who disclosed this at the weekend,

noted that the programme would further boost business activities in the state, especially for micro, small and medium sized enterprises (MSMEs). She said the programme was not all about quick money, but having a sustainable business venture that would create jobs and add value to the society. According to her, "EdoJobs is about teaching people how to make long-term investments by linking them to the right business information and equipping them with

entrepreneurial skills, funding and market.” On his part, the General Manager, Enterprise Development Centre, Dr. Olawale Anifowose, said the programme was aimed at creating more jobs in the state, especially at the grassroots. Anifowose noted that the youths would form the first-year beneficiaries of a five-year entrepreneurship training that would run in the state, adding that they would be exposed to three

months of online training with a free data plan. He added that there would be one-on-one free business mentorship, as well as access to funding for youths that would complete the three months training. "The three key objectives of the programme are to create the correct mindset about entrepreneurship, provide access to market and direct services, as well as provide access to funding opportunities", Anifowose stated.

MONDAY, DECEMBER 20, 2021 • T H I S D AY

NEWSXTRA

SEEKING SPIRITUAL BLESSING... Governor Ifeanyi Ugwuanyi of Enugu State (left) receiving blessings from the Spiritual Director of Adoration Ministry Enugu Nigeria (AMEN), Rev. Fr. Ejike Mbaka, during the Ministry's last Crusade for 2021, held at the Adoration Arena, Enugu...yesterday

Fayemi Harps on Prevention of Sexual Gender-based Violence

Ugo Aliogo

The Ekiti State, Governor, Dr. Kayode Fayemi, has stressed the need for the federal and state governments to do more to prevent sexual gender-based violence (SGBV), even as he said his administration has zero-tolerance for SGBV. Fayemi, who disclosed this in Lagos at the weekend, during the launch of the First-biennial Florence Bamidele Makanjuola (FBM) roundtable on Girl-Child Education with the theme: ‘Fixing Girl-Child Education: The Next Frontier,’ said his government doesn’t believe that a boy-child should have a life of privilege to the detriment of a girl-child. He also said as part of

measures to protect the interest of the girl-child, especially in the area of education, his government runs free and compulsory qualitative education right up to senior secondary school level. According to him, hid state was the first to have an open register on rapists in the country, which he said was now norm in a number of other places. “We are the state with the first sexual assault referral centres in the country, we are the state that set up the first law on gender-based violence and we go beyond just law and its enforcement to empowerment. “It is you saying a girl should not be raped if you don't create opportunities for the girl to live

Legal Titan and Business Leader, Ademola Edu, is Dead Peter Uzoho

One of Nigeria's legal icons and business leaders, Chief Ademola Edu, is dead. The demise of Edu, 76, was announced yesterday in an obituary issued by his family. Born October 21, 1945, into the family of the late Chief S.L. Edu and Alhaja Hunmuani, the late business leader attended Lagos Government School and later, Igbobi College, Yaba, Lagos. Edu, according to the statement by the family, laboured diligently to fulfill his responsibilities and excelled at Igbobi College, Lagos, where he also obtained the school colours in football. He was briefly at King's College, London, to study Law but ended up at the University of Lagos, Akoka, Lagos, and was later called to the Nigerian Bar in 1973. The legal luminary worked as a young lawyer with Bentley and Co. from 1973 to 1975, when he established his own law firm, Ademola Edu and Co. The deceased, the family noted, left no one in doubt about his high-rising profile in the legal profession, when

he bought the law firm of Bentley and Co. in 1980, and went ahead to form Bentley, Edu and Co. the same year. He carved the niche of a successful legal practitioner by acquiring in 1989, the prestigious law firm of Irving and Bonnar, the oldest law firm in Nigeria, founded in 1917. A Notary Public, the late Edu was a trustee of the Dr. T.O.Elias Chair of Law at the University of Lagos and distinguished himself in the sphere of business, becoming Chairman of Bristow Helicopters (Nigeria) Limited in 2000, having been appointed to the board in 1977. He joined the board of Glaxo in 1983 and also served as a Director of Eko Hotels, Lagos,from 1983 to 1986. When the late Edu assumed authority as Chairman of Evans Medical Plc. in 2004, the statement noted, it was clear the company was set for an invigoration that eventually set a progressive tone for it in the health sector. His deep impact on the company was such that today, Evans Medical Plc. is a respected leader in the league of drug manufacturers in the country.

a life of worth she will become, but dependent on somebody who takes advantage of her because of poverty. “We see that all around us, so we must also ensure that there are structures and systems in place to empower girls, and am not just talking of empowerment in the tokenistic

version that we do, am talking about investment in the future of our girl children,” he noted. Fayemi charged the people to emulate the lifestyle of Late Florence Makanjuola, who he said was an epitome of kindness and love, while charging everyone to try and live a life of service and

sacrifice, “in our own little way it doesn't have to be a humongous contribution.” He added: “Giving is about conviction and about transformation. It is about how do we make a difference in the lives of people around us, in our neighbourhood, community, workplace and mama gave of

her time. “Mama Florence Makanjuola gave of her skills, she gave all her enormous opportunities in the church, in the community, to our children both nuclear and extended and to our profession, because we should also give to our profession.”

ASUU Shelves Proposed Strike for More Consultations Berates govt over poor lecturers’ remuneration Onyebuchi Ezigbo in Abuja and James Sowole in Abeokuta The Academic Staff Union of Universities (ASUU) has resolved to shelve its plan to embark on an industrial action to compel federal government to meet its demands. Instead the union said it has decided to go for more consultations and to give government opportunity to address all outstanding issues arising from the December 2020 Memoradum of Action (MoA). ASUU had threatened to take measures, which included downing tools, to get government to address its demands. However, in a statement issued by the ASUU President, Prof. Emmanuel Osodeke, yesterday, the union said it took account of efforts by many patriotic Nigerians both within and outside the country

to ensure amicable resolution of the dispute. But Osodake said ASUU would resist any attempt to blackmail the union and derail its patriotic struggle for a productive University system "by official propaganda founded on tokenism and crumb-sharing." The statement which summed up decisions reached at the emergency National Executive Council (NEC) of ASUU held at its National Secretariat at the University of Abuja, at the weekend, said the union would review the situation at another date.. The meeting was meant to review the level of government’s implementation of the FGNASUU Memorandum of Action (MoA) of 23rd December, 2020, and other related matters with a view to deciding on way forward. In deciding to stay action on strike, Osodake said: "NEC

took full account of efforts by student union bodies, leading media traditional rulers, civil society organisations and other interest groups within and outside Nigeria to make government address all outstanding issues arising from the December 2020 MoA." In particular, ASUU president said the union took special cognisance of the pledges made by the Nigeria Inter-Religious Council (NIREC) to make further consultations on the crisis in the coming days with a view to finding an amicable resolution. He accused the government of reneging on its promise to set up an inter-ministerial committee to handle renegotiation of the 2009 agreement. On the issue of the University Transparency Accountability Solution (UTAS) ASUU said it was fully prepared to address all the report of the “integrity

test” on UTAS raised by the Nigeria Information Technology Development Agency (NITDA) to pave way for its deployment. The statement read in part: "NEC was worried by the spirited efforts of government agents to reduce the demands of ASUU to a regime of intermittent payment of watered-down revitalisation fund and release of distorted and grossly devalued Earned Academic Allowances (EAA). "NEC condemns, in strong terms, the surreptitious moves to pooh-pooh our demands on the review of the NUC’s Act to curb the proliferation of universities by state governments who are not funding the existing ones; adoption of the University Transparency Accountability Solutions (UTAS) with concurrent discontinuance of the Integrated Payroll and Personnel accumulated promotion arrears.

Nigeria Averts Diplomatic Row with Togo Michael Olugbode in Abuja Nigeria has averted a diplomatic row with Togo over a viral video where some Nigerians were allegedly being maltreated at the Gnassingbe Eyadema International Airport in Lome. A video went viral on Saturday of the Nigerian transit passengers being brutalised at the Lome Airport The Nigerian travellers, who have now been evacuated home after the intervention of the nation’s Foreign Minister,

Geoffrey Onyeama and the Ambassador to Togo, Debo Adesina, had landed on Saturday in Lome, via an Ethiopian carrier from New York, hoping to connect an ASKY flight to Lagos. But the ASKY carrier was reportedly said to be full. Upon a protest by the aggrieved transit passengers, the Togolese security personnel at the airport allegedly shackled and manhandled some of the protesters, as captured in the viral video.

Thereafter, Onyeama’s attention was drawn to the unpleasant situation and he had to step in from Istanbul, Turkey, where he was attending the third Turkey-Nigeria Partnership Summit as part of President Muhammadu Buhari's delegation. Also, Adesina immediately headed to the airport to take charge of the situation. He later told journalists that he had worked with the boss of the Togolese civil aviation authority, Dokisime Gnama

Latta to provide two flights that airlifted the Nigerian passengers that same night. An unconfirmed report has it that ASKY Airline, a strategic partner of the Ethiopian Airlines, has been facing challenges in the last three weeks due to traffic volume and low capacity. Reacting to the incident, the Chairman/Chief Executive Officer of the Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa said Nigeria was investigating the matter.

MONDAY, DECEMBER 20, 2021 • T H I S D AY

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DISCUSSING GIRL-CHILD EDUCATION... L-R: Founder, Flying Doctors Healthcare Investment Group and panelist, Dr. Ola Brown; Member, Federal Government’s Health Sector Reform Committee and panelist, Dr. Mairo Mandara; Deputy Governor, Central Bank of Nigeria, Mrs. Aishah Ahmad; Florence Bamidele Makanjuola; Chairman of the Event, Prince Julius Adelusi-Adeluyi; Governor of Ekiti State and Keynote Speaker, Dr. Kayode Fayemi; the moderator, Ms. Ronke Onadeko and one of the panelists, Mr. Chinenye Mba-Uzoukwu, during the discussion on ‘Fixing Girl-Child Education: The Next Frontier,’ at the celebration of FBM's 100th posthumous birthday, unveiling of her autobiography and launch of the Florence Fund, held in Lagos…recently

Ayu: Nigeria Now in War Situation Says media has helped prevent full dictatorship Chuks Okocha in Abuja National Chairman of Peoples Democratic Party (PDP), Dr. Iyorchia Ayu, has lamented the security situation in the country, saying the country seems to be in a war situation under President Muhammadu Buhari, a retired army general. Ayu said the opposition party provided security for the citizens, when it was in power. He called on the electorate to rally round the party in 2023 in order to save the country from further security threats. The former senate president made the assertions at the weekend at the party's headquarters in Abuja, during the Annual General Meeting of the PDP Press Corps. He said the level of insecurity in Nigeria under the watch of a retired general had started to threaten the foundation and unity of the country. According to him, "We are virtually in a war situation in Nigeria today. We are fighting bandits. We are fighting kidnappers; we are fighting all sorts of bandits and extremists, who are killing, raping our mothers and daughters. None of you can’t sleep with your eyes closed, because you are always wondering whether you are going to make it to the next day. You have to keep on highlighting these problems, because government has the fundamental responsibility of protecting lives and property. "We have a retired general as president and we thought these things will improve. We don't need to talk as a political party or as an opposition, but you know

exactly what is happening in our country is threatening even the very unity and existence of our country. I think you need accurate reporting of the events, which are not very glorious." Ayu, who was accompanied by members of the PDP National Working Committee (NWC), said he practised journalism at a younger age and challenged journalists not to be deterred by the risks around their profession. He reminded the media that the founding fathers of the profession risked their lives while fighting the military junta to ensure that democracy was returned to the country. The PDP national chairman said the opposition party, too, was opposed to dictatorship during its days in office, adding that it would continue to partner the media to educate the electorate and the international community on the ills of the present administration. Ayu told the media community, "What we've fought against all along in this country is, we don't want any institutionalised dictatorship. We want a country, where people should be free to express their views and go about their businesses. And I believe the Nigerian media, from history, right from the time of independence, has played a very very glorious roll. “They fought for independence. They sustained that fight, even during the military takeover. Some have lost their lives. If you remember the Dele Giwas, they lost their lives to what they believed in for the love of the profession. I call on you to be courageous to follow in the footsteps of your

forefathers in the profession. You will definitely make sacrifices. "We have to educate not only Nigerians but also the international community, with your accurate reporting, of what we are trying to do as a party, because it is only an informed electorate that makes right choices. We believe we are here to offer Nigerians an alternative to what is going on

today. But I think in the first 16 years we were here, we did, let's say, 100 or 90 per cent, but we are much more determined to do better than what we did before." The PDP national chairman called for more interactive sessions with the media, saying the party under his watch is determined to improve the security situation in the country. He called on the

electorate to rally round the party and vote out APC during the next general election. Meanwhile, Ayu, yesterday, congratulated Hon. Abdel-Majid Adesegun Adekoya, for winning the "the Most Outstanding Member of the House of Representatives Award" in Ogun State for the second consecutive year. Adekoya, who is Deputy House Minority

Whip, representing Ijebu North/ Ijebu East/Ogun Waterside Federal Constituency, is the only opposition federal lawmaker from the state. Adekoya beat eight APC lawmakers from the state in the online poll conducted by an online newspaper, Amebo News Hub TV. The poll ran for seven days from 7th to 14th, December, 2021.

Irabor, Ovia, Emefiele, Others Move to Revamp Ika Grammar School Poor attention to education compounding national challenges, says Okowa Omon-Julius Onabu in Asaba The Chief of Defence Staff, General Lucky Irabor; the Founder and Chairman of Zenith Bank Plc, Mr. Jim Ovia, and the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, have taken steps to revamp the Ika Grammar School, Boji-Boji Owa, Ika North-east Local Government area of Delta State. This was just as Governor Ifeanyi Okowa of Delta State has expressed concern about the generally inadequate attention being given to education in Nigeria, saying the situation was partly responsible for the plethora of problems bedeviling the nation. Okowa stressed the need for all stakeholders to give the issue of provision of quality education

the urgent attention it deserves, in order to give youths the right orientation and restore sanity in the system. The governor made the observation on Saturday as the special guest of honor at the fund-raising and groundbreaking for infrastructure projects at Ika Grammar School. The event, organised by the Ika Grammar Old Boys Association, was attended by Irabor, Ovia and Emefiele. Highlight of the event included the fundraising ceremony and the groundbreaking for the major building projects within the school premises performed by Okowa, who was assisted by the invited personages and old boys, including Irabor. Okowa set the ball rolling by promising that the state government would take up

the construction of one of the proposed school building projects. Emefiele also promised to donate a dormitory block while Ovia announced a donation of N150 million. "Ika Grammar School had earned a name long before I went to school and i believe that none of us would want to see the school go down to the extent that we can't tell people that we attended the school,” the governor said. Okowa charged the old students to donate generously to the development of the school and announced that the state government would carry out proper renovation of the administration block. Governor Okowa noted that moral values in the country had been severely eroded due to

decline in the level and quality of education, appealing to parents and other stakeholders to join hands with the government in order to tackle the educational challenges confronting the nation. "We are not paying enough attention to education in this nation", Okowa lamented, adding, "I believe that is part of the problems we have today in this country. "This school gave birth to who you are today and it's important that we pay special attention to it otherwise the lives of many children would have been spoilt or lost. "There is need to improve infrastructure in the school because no matter how good your teachers are, if the ambience of the school is not appealing to the child he can never be comfortable to study," he said.

The CSOs called on the National Assembly to override the president's veto. They spoke in a joint statement signed by Executive Director, Adopt A Goal Initiative, Ariyo-Dare Atoye, and endorsed by Convener, Raising New Voices Initiative, Jude Feranmi; Programme Officer, Centre for Liberty, Maryam Ahmed; Convener, Speak Out Africa Initiative, Kenneth Eze; Executive Director, The Nigerian Alliance, Simi Olusola; and Executive Director, Youth and Students Advocates for Development Initiative (YSAD), Obinna Eze Nwagbara. The CSOs accused Buhari of trying to destroy the country's democracy. The statement said, “It has come to the point where we must tell President Buhari in

unmistaken terms that his failure to sign the bill within the 30 days window has exposed him as the biggest threat to the Fourth democratic republic, having failed to perform a similar responsibility four times in his first term. “President Buhari benefitted significantly from some of the electoral reforms initiated by Yar’Adua and signed by Jonathan; if he fails to sign the amended electoral act, history will record him as a major impediment to electoral credibility and governance. This is a low hanging lifetime opportunity for the president to salvage his terrible electoral credential.” The civil society groups vowed to storm the National Assembly today in protest, to press for the overriding of the president in the interest of Nigerians.

ON DEADLINE, BUHARI FAILS TO REJECT ELECTORAL ACT AMENDMENT BILL president in writing to shelve the intention, if there was any, of signing the bill, because he found some contentious clauses. Two days to the expiration of the 30 days within which the president must communicate rejection of the bill, Malami, reportedly, wrote another letter, reaffirming why the president should not sign the bill. He claimed mandatory direct primaries would cause chaos. But since Malami’s first official advice to the president, many of the governors of the ruling party had equally mounted pressure on Buhari not to sign the bill, citing cost and the fact that the choice of the mode of primary should be a decision for the political parties and their leaderships to take. While the anti-direct primaries elements were mounting pressure on the president, those inclined

to the idea, including President of the Senate, Ahmad Lawan, and Speaker, House of representatives, Femi Gbajabiamila, had also met with the president repeatedly and came out with the assurances that Buhari would do the needful. Civil society groups, members of the diplomatic community, and ordinary Nigerians had also appealed to the president to sign the bill because it would strengthen participatory democracy and also hand power back to the people in the choice of their representatives at all levels of the electoral process. Buhari has yet to assent to the bill or give reasons why he has not, even though he recently said at a virtual summit on democracy put together by United States President Joe Biden that he would leave behind a credible

electoral culture by 2023, when he is billed to leave office after two terms of eight years. It appears the president intentionally chose to keep Nigerians in suspense. But some sources said he was concerned about the governors, who were against the amendment, and has been trying to strike a balance since the governors fund the party. An inside source, who did not trust the president, told THISDAY that, “Can’t you see that the governors stopped talking about it for a while? They had reached an understanding with the president and they won. They boasted they would prevail and they just did. Whoever says the governors are not powerful is a joker. They are not only powerful, they always deploy their power to effective uses, especially, when

a lot is at stake for them.” Interestingly, what seemed to corroborate this happened two weeks ago, following reports that the president might have resolved to decline assent to the bill. But both Gbajabiamila and a presidential spokesperson, Garba Shehu, denied it and said they were not privy to such information. So far, there has not been any official communication on the bill generally considered crucial to the success or otherwise of the next general election. Meanwhile, the Civil Society Organisations (CSOs), yesterday, expressed shock and disappointment at the failure of the president to assent to the electoral act amendment, describing him as the biggest threat to Nigeria’s democracy.

MONDAY, DECEMBER 20, 2021 • T H I S D AY

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OBASEKI RECEIVES PLANTATION OWNERS FORUM... L-R: Member, Plantation Owners Forum of Nigeria (POFON), Felix O. Nwabuko; Chairman, POFON, Emmanuel Ibru; Edo State Governor, Mr. Godwin Obaseki and other members of POFON, Fatai A. Afolabi, and Patrick Aguele, during a courtesy visit, at the Government House, in Benin City…recently

APC National Convention: Stakeholders Kick against Kalu’s Proposal for Postponement Adedayo Akinwale in Abuja Stakeholders in the All Progressives Congress (APC), have kicked against the proposal by one of the leaders of the party, Senator Orji Kalu, for the postponement of the national convention of the party slated for February 2022. Kalu had in a recent letter to the Chairman of the Caretaker/ Extraordinary Convention Planning Committee (CECPC) and Governor of Yobe State, Mai Mala Buni, called for the postponement of the party's convention slated for February in order to reconcile aggrieved members in some state chapters of the party riddled with crises. He also suggested that the convention and the presidential primary should be held the same day. But the Director General of the Progressive Governors Forum (PGF), Dr. Salihu Lukman, in a letter dated December 16, 2020 and addressed to Buni, warned that the chairman would be strengthening political opposition if he refused to hold the convention in February. He said postponing the convention was detrimental to the party and could jeopardise itschances ahead of the 2023 elections. Dapo Okubanjo, an aide to one of the chairmanship aspirants, Mallam Saliu Mustapha, said Kalu's call for a postponement of the convention was unacceptable. Okubanjo, who spoke in a telephone interview, told THISDAY that it was doubtful that anyone, who meant well for APC would back such a call, adding that postponing the convention would create more problems within the party. He stated: "What Kalu said is unacceptable and is unnecessary because it could create more problems for the party. Aside from us, every other aspirant is stepping up their bid for the position based on President Buhari's endorsement of February for the convention. "So, it is doubtful that anyone, who means well for APC will back that position. Kalu may have his personal reasons but it will be difficult to agree to that move." Mr. Simon Shango, Campaign Coordinator for the Minister of Special Duties, Senator George Akume, also said there were rules and laws governing the establishment of APC as a party. Shango, who also spoke to

THISDAY, said there must be a period that was allowed for a tenure of a particular executive of a party. "I believe by February, the people are conscious that the term will end by that time. So, if we go outside that time, what you are doing is that you are offending the rules and laws that govern tenure of office in the party. "Whoever calls for the postponement, I have not read it but I don't think it is practicable. So, I cannot talk about what will happen. I don't think it is practicable," he said. On his part, Mr. Sunny Monidafe, said it was not right to postpone the party's convention and was of the opinion that it would cause the ruling party to lose credibility, having allowed the issue of national convention to drag for for too long. Monidafe said: "I don't think it is right for them to do that. We are losing credibility as a party. This thing has taken far too long. Most embarrassing right now is that they went to the President and he endorsed February. Now, what could have come up that will make them want to say they have postponed it? I don't think it is nice." On the call that the party should hold presidential Primary before nation convention, he said that too was a wrong move, stressing: "That is wrong. We should not even try doing things new. Let's do things the way we used to do it in the past. There is no point changing any way of doing things "Right now, anything we do, anything the party does will lead to suspicion. For the sake of credibility and to remain relevant, I want to advise our leaders in APC to please stick to their promise. Ideally, a gentleman's word should be his bond." Meanwhile, a group concerned of APC stakeholders, has equally warned that the leadership of the ruling party must do everything to hold the party's national convention slated for February 2022. Spokesman of the group, Abdullahi Dauda, in a statement issued yesterday said Kalu was not a member of the party, when it was formed and has no right to say convention should not be held, and therefore called on President Muhammadu Buhari to call the Buni committee to order, saying it would resist any attempt to postpone the

convention. The group insisted that the major task before the Caretaker Committee as of today was the conduct of the national convention and must be pursued with all vigour and seriousness it deserves. "As the Caretaker Committee

meets tomorrow, we appeal to members of that body to resist further temptation to postpone the national convention in the interest of larger party members. We equally appeal to Mr. President, to call the caretaker to order before it is too late. "He has PDP to fall back on

if the court gives judgment against the actions of Buni-led caretaker in the future while we don't have where to go, because APC is all we have. Therefore, other caretaker members should rise and save the party before it is too late. “It is our hope and believe

that the Caretaker Committee will not employ any delay tactics that will result in the need to further postpone the national convention from the February 2022 date as it has done in the past, where its six months mandate has extended to almost one and half year."

Investment: Ogun Creates Six Economic Development Clusters James Sowole in Abeokuta The Ogun State Governnent, has created six economic development clusters in three senatorial districts of the state as parts of efforts to attract more investors to do business in the state and raise its Internally Generated Revenue (IGR). Commissioner for Finance and Chief Economic Adviser to the Governor, Mr. Dapo Okunbadejo, disclosed this at a cocktail, organised by the State Internal Revenue Service (OGIRS), for companies and institutions operating in the state. The event, which held in Abeokuta, had in attendance, representatives of companies and institutions that were referred to as tax agents. The companies included Honda Manufacturing Company, Federated Steel Mill Limited, Dangote Cement Transport Limited, First Bank, CCECC Nigeria Limited, Dangote Cement,

Crescent University, Chrilan University, Ballin Transport and Logistics, Nestle Plc, Wema Bank, Federal Polytechnic Ilaro. The clusters, according to the commissioner, were established in Ijebu Ode, Remo, Magboro, Abeokuta and Imeko areas of the state. Okubadejo, who said the clusters, that were created for the first time in the state, could be likened to Industrial Estate, explained that the new initiative, was much bigger than normal industrial estate. "We have six economic development clusters across the state. They are well balanced to take advantage of the peculiarities of those locations and where we are spending significant resources in infrastructure. "The first one is Ijebu Economic Development Cluster, which is around Ijebu Epe new tolll road we have just constructed. This will have a lot of cities in there, including medical city, automobile

city, knowledge city, smart city, MSME Park and the hub financial centre," the commissioner said. He disclosed that in some of the cities, there were about 10,000 hectares of industrial estatesas there would also be residential estates as well. "We are currently master planning these clusters such that we can easily attract those industrial concerns in those places. We also have the aerotropolis in the Remo Cluster. The aerotropolis, in a nutshell, is simply called an airport city, where you carefully planned the real estate around the airport that would cater for other commercial concerns such as logistics and distribution. "So, companies that actually have their warehouses there such as light manufacturing would also be near there so that people can produce and export. So, it is a whole city and that city is properly planned. The location of this agro cargo airport is one

that is easily accessible. It is right at the intersection between Lagos-Ibadan Expressway and Shagamu- Benin Expressway. So, there can't be better accessibility than that as even the Lagos Airport is at a dead end," the commissioner said. Okubadejo said the Magboro Economic Development Cluster, had huge expanse of land that was currently being developed to an industrial estate. He said with the creation of these clusters, the state could easily take advantage of African Continental Freeze Trade Agreement, that is, essentially making the whole Africa a single largest economic bloc in the world. He said if the state could take advantage of the hub as the leading economic hub in Nigeriaand attract a lot more industries, adding that, with the creation of these economic develolment clusters, companies could come easily into the state and establish business.

Buhari Declares October 5 National Day for Senior Citizens Olawale Ajimotokan in Abuja President Muhammadu Buhari, has declared October 5 as the National Day for Senior Citizens in Nigeria, a declaration he made at the First Presidential Summit on Ageing and Awards ceremony, held at the Yar’Adua Centre, Abuja. In his keynote address, Buhari, who was represented by the Minister of Interior, OgbeniRauf Aregbesola, noted that 4.7 per cent of Nigeria’s population or to over 9 million senior citizens, have contributed their best to the development of the country. The President, sadly, admitted that the elderly had not been

treated fairly and with dignity. “Senior citizens are the most neglected and abused in the society and have been left to die in silence. In bringing about a paradigm shift, I, President Muhammadu Buhari, signed into law, the National Senior Citizen’s Centre Act 2017, to cater for the needs of senior citizens. “The Federal Government of Nigeria is committed to effectively mobilising capital resources needed to develop the appropriate mechanism that will be geared towards promoting and providing unhindered access to social services. “As a further demonstration of our support for senior citizens,

the 5th of October every year will be celebrated as National Day for Senior Citizens in Nigeria,” Buhari said. Earlier, the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, described the event as the first ever Summit on Ageing in recognition of the senior citizens in Nigeria. She thanked the President for signing the Disability Acts 2018, and the National Senior Citizens Centre Acts 2017, and appealed for take off funds for the centre. In a presentation titled: “The Stakes for Policy and Legal Framework and

Implications for Social Inclusion of Older Persons”, the Permanent Secretary in the ministry, Mr. Bashir Nura Alkali, noted that the 2013 and 2015 Global Agewatch Index, published respectively, in which 96 countries, were consecutively assessed, showed that Nigeria's ranking among the 96 selected countries was abysmal; 85th in 2013 and 86th in 2015.” He said the National Policy on Ageing and the National Senior Citizens Centre Act 2017,which was also unveiled at the Summit would go a long way in improving the standard of living of ageing persons in the country.

T H I S D AY ˾ MONDAY DECEMBER 20, 2021

IMAGES

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

L-R: Special Adviser to Lagos State Governor, Babajide Sanwo-Olu, on Education and the recipient of Year 2021 Oba Adeboruwa Award of Excellence, Mr. Tokunbo Wahab; the Ranodu of Imota Kingdom, Oba Mudashiru Ajibade Bakare-Agoro; host monarch, Oba Semiudeen Adeboruwa Kasali of Igbogbo land; the Alara of Ilara, Epe Division, Oba Olufolarin Kayode Ogunsanwo; and Vice Chancellor, Lagos State University, Prof. Ibyemi Olatunji Bello, at the presentation of Oba Adeboruwa Excellence Award to the Special Adviser (Wahab) in recognition of his contributions to the educational development of Ikorodu Division at the Year 2021 Igbogbo Day celebration in Ikorodu, Lagos...recently PHOTO: ETOP UKUTT

L-R: Director, Teesas, Taiye Osayi-Izedonmwen; Nollywood actress, Mercy Johnson-Okojie; Founder/Chief Executive Oﬃcer, Teesas, Osayi Izedonmwen; and Johnson-Okojie’s Manager, Oma Areh, at the unveiling of Johnson-Okojie as Teesas brand ambassador in Lagos...recently

L-R: Executive Director, Intellectual Property Institute Nigeria, Folarin Aluko; Content Creator and General Counsel, XLR8 Nigeria, Alero Okoruwa; Chief Judge, Federal High Court, Abuja, Justice John Tsoho; and Chief Executive Oﬃcer, XLR8 Nigeria, Calixthus Okoruwa, at the investiture of Tsoho, Okoruwa and six others as Fellows of the Intellectual Property Institute Nigeria, held in Abuja...recently

L-R: Public Relation Lead, 9mobile, Chineze Amanfo; Founder, SERAS CSR Awards Africa, Ken Egbas; and PR Specialist, 9mobile, Joshua Oluranti, during the 15th edition of the SERAS Awards, where 9mobile won the Deborah Leipzigar Africa Prize for Innovation in Lagos…recently

L-R: Chief Talent Oﬃcer, YF Partners, Mr. Yemi Faseun; out-going President, Ladies Breaking Boundaries (LBB), Mrs. Omolaramide Amubieya; Executive Director, Graceperspective Limited, Mrs. Bridget Elesin; Founder, Morin o. Designs, Mrs. Morin Obaweya; and in-coming President, LBB, Mrs. Omotope Opatola, during the 2021 annual conference of Ladies Breaking Boundaries in Lagos…recently PHOTO: ABAYOMI AKAINYELE

L-R: External Aﬀairs and Sustainable Business Lead, Unilever Nigeria, Godwin Bamsa; Franchise Manager, Wecyclers, Samson Morgan; Corporate Aﬀairs and Sustainable Business Director, Unilever West Africa, Soromidayo George; Business Development Manager, Wecyclers, Esther Fagbo; and Finance and Admin Manager, Food and Beverage Recycling Alliance (FBRA), Lukmon Folarin, during the Plastics Waste Collection Drive campaign in Ijora, Lagos...recently

L-R: Head of Department of General Studies, Nigerian Institute of Journalism, Dr. Adeboye Ola; Chairman, Guild of Photojournalists Nigeria, Mr. Abiodun Ajala; Representative of Group Chairman, Mutual Beneﬁts Assurance Plc/Chairman of the occasion, Pastor Gbenga Ogunko; Guest Speaker/former General Manager, Zenith Bank and representative of the Grand Matron of GPN (Revd. Esther Ajayi), Bukky Latunji, receiving the Grand Matron of GPN award on behalf of the Founder of Love of Christ Generation Church (Revd. Ajayi); and Speaker/Chief Coordinator, Tourism Klub, Evangelist Segun Ola-Oyedeji, during the 2021 annual conference and exhibition of Guild of Photojournalists Nigeria in Lagos... recently

MONDAY, DECEMBER 20, 2021 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Israeli Army Arrests 4 Suspects in Deadly West Bank Shooting The Israeli military said Sunday that its forces apprehended four Palestinian suspects believed to have taken part in a deadly shooting in the occupied West Bank. In Thursday’s incident, at least one Palestinian gunman opened fire on a car filled with Jewish seminary students next to a West Bank settlement outpost. Yehuda Dimentman, 25, was killed and two others were wounded near Homesh,

which is considered illegal by the Israeli government. The army said the suspects were arrested in the northern West Bank village of Silat al-Haaretia, near Jenin, and “were transferred to the security forces for further investigation and the weapon of the suspect who carried out the shooting was captured.” The Israeli authorities did not immediately identify the suspects.

The Israeli border police released a photo of a cache of assault rifles, and ammunition it said belonged to the suspects. Israeli Prime Minister Naftali Bennett congratulated the security forces for the arrest, adding that “every terrorist should know that the state of Israel will settle the score with him.” Muslim World Seeks Coordinated

Relief Aid to Afghanistan Afghanistan’s ruling Taliban assured a special meeting of the 57-nation Organization of Islamic Cooperation (OIC) Sunday that they will do more to enhance national political inclusivity and promote human rights, including those of women, in the country. Taliban Foreign Minister Amir Khan Muttaqi spoke in Pakistan at the day-long OIC-convened huddle, including delegates from the United States, China, Russia, the European Union and the United Nations. It was the biggest international gathering on helping Afghanistan prevent a humanitarian catastrophe since the Taliban seized power from the Western-backed government in August following a US-led foreign troop exit from the country after 20 years. Washington and Western allies have blocked the Taliban’s access to some $9.5 billion in Afghan assets, mostly held in the U.S. Federal Reserve, imposed financial sanctions and halted non-humanitarian assistance to the war-ravaged country’s largely foreign aid-dependent economy. At Least 146 Killed in Philippines Typhoon The death toll in the strongest typhoon to batter the Philippines this year has reached at least 146, and the governor of an island province especially hard-hit by Typhoon Rai said there may be even greater devastation that has yet to be reported. Gov. Arthur Yap of Bohol province in the central Philippines said 72 people died there, 10 others were missing, and 13 injured, and suggested the fatalities may still considerably increase because only 33 of 48 mayors were

T H I S D AY ˾ MONDAY, DECEMBER 20, 2021

FOREIGN DESK able to report back to him due to downed communications. Officials were trying to confirm a sizable number of deaths caused by landslides and extensive flooding elsewhere. In statements posted on Facebook, Yap ordered mayors in his province of more than 1.2 million people to invoke their emergency powers to secure food packs for large numbers of people along with drinking water. Both have been urgently sought in several hard-hit towns. After joining a military aerial survey of typhoon-ravaged towns, Yap said, “it is very clear that the damage sustained by Bohol is great and all-encompassing.” He said the initial inspection did not cover four towns where the typhoon blew in as it rampaged through central island provinces on Thursday and Friday. The government said about 780,000 people were affected, including more than 300,000 residents who had to evacuate their homes. Japan Arrests Prime Suspect in Arson That Killed 24 Japanese police on Sunday identified a 61-year-old man as a prime suspect behind a fire that engulfed a mental health clinic in an eight-story building where he was a patient, killing 24 people trapped inside. The government also announced plans to inspect tens of thousands of similar buildings nationwide. Authorities believe the massive death toll at the downtown Osaka building on Friday was largely because the fire made its only emergency stairway unusable. Osaka police, investigating the case as arson and murder, identified the man as Morio Tanimoto. He is being treated in serious condition after he was rescued from the fire, police said. He has not been formally arrested or charged. After verifying security cameras and searching his home, police said they suspect Tanimoto was responsible for setting fire to the mental health clinic, an official at the prefectural police investigation department told The Associated Press on condition of anonymity because he was not authorized to speak to the media. Kyodo News said Tanimoto was a retired metal worker. His former employer at the factory where he worked 2002-10 described him as diligent and skilled. He quit without saying what he was up to, he said. After finishing high school, Tanimoto trained at his father’s sheet metal factory in Osaka but left after his brother took over the business, Kyodo said. 12 Killed in Land Dispute in Western Guatemala Guatemalan authorities said Saturday that 12 people were killed in the village of Chiquix, about 155 kilometres northwest of the capital by road, where a long-running land dispute has sparked conflicts between the residents of two municipalities. The victims include women and three children, authorities said. One police officer was also killed during the armed confrontation, while two more were wounded. In a statement, Guatemala’s National Police said it was engaging leaders of the two communities to prevent future violence. The office of the Human Rights Ombudsman also recommended beefing up the police presence in the area. The land dispute, which dates back more than 100 years, has pitted residents of the NahualÃ¡ and Santa Catarina IxtahuacÃ¡n municipalities against each other. Mass Anti-Coup Protests in Sudan Mark Uprising Anniversary Sudanese took to the streets in the capital of Khartoum and elsewhere across the country for mass protests Sunday against an October military takeover and a subsequent deal that reinstated Prime Minister Abdalla Hamdok but sidelined the movement. The demonstrations mark the third anniversary of the uprising that eventually forced the military removal of longtime

Catholic Church Faces Sexual Abuse Involving over 1,000 Victims: Report Spain’s Catholic Church is to open an investigation into alleged sex abuse of hundreds of children by clergy members dating back 80 years that the newspaper El Pais has uncovered, the daily said on Sunday. The investigation will look into allegations of abuse against 251 priests and some lay people from religious institutions that the paper has uncovered, El Pais said. The paper has not fully published its findings from a three-year investigation it conducted into the issue but said its correspondent gave a 385-page dossier to Pope Francis on December 2 while the papal entourage and journalists were flying from Rome to Cyprus. The paper said the number of victims is at least 1,237 but could rise into the thousands. The allegations concern autocrat Omar al-Bashir and his Islamist government in April 2019. Sudan then followed a fragile path toward democracy and ruled by a joint military-civilian government. The October 25 coup has rattled the transition and led to relentless street protests. Video footage circulated online purported to show protesters marching in the streets of Khartoum and its twin city of Omdurman on Sunday. Protesters were seen waving the Sudanese flag and white ones with printed images of those killed in the uprising and ensuing protests. Ahead of the demonstrations, Sudan’s authorities tightened security across the capital, barricading government and military buildings to prevent protesters from reaching the military’s headquarters and the presidential palace. They also blocked major roads and bridges linking Khartoum and Omdurman across the Nile River. There were also protests in other cities, including in Atbara, the birthplace of the uprising against al-Bashir. Turnout Down as Hong Kong Votes in ‘Patriots’-only Election Hong Kong government efforts and

31 religious orders and 31 of the country’s some 70 dioceses. The oldest case dates back to 1942 and the most recent to 2018. According to El Pais, the investigation will be carried out by the Spanish bishops’ conference headed by Cardinal Juan Jose Omella, the archbishop of Barcelona. Officials from the bishops’ conference were not available for comment on Sunday. A Vatican spokesman was not immediately available, but the Vatican does not usually comment on the work of national bishops conferences. In November, Pope Francis thanked journalists for helping to uncover clerical sexual abuse scandals that the Catholic Church originally tried to cover up.

last-ditch campaigning by candidates were struggling on Sunday to boost turnout in an overhauled “patriots”only legislative election, the first under sweeping new security law. After eight hours of voting, turnout was more than 10 percentage points below the previous Legislative Council election five years ago. The election — in which only candidates screened by the government as “patriots” can run — has been criticized by some activists, foreign governments, and rights groups while mainstream pro-democracy parties are not participating. Turnout is a central issue, as observers consider it a barometer of legitimacy in an election where pro-democracy candidates are largely absent, more than a third of the seats will be selected by a committee stacked with Beijing loyalists, and a crackdown under a China-imposed national security law has jailed scores of democrats. Civil society groups have disbanded. “Clearly, the government’s objective is to secure a high turnout. Otherwise, it may delegitimize this election,” said Jean-Pierre Cabestan, a professor of political science at Hong Kong’s Baptist

University. Afghans Facing an Avalanche of Hunger and Destitution The World Food Program warns the crisis of acute hunger facing millions of people in Afghanistan as winter sets in is just one step away from becoming a catastrophe. The World Food Program is rapidly ramping up humanitarian operations in Afghanistan to prevent the worst from happening. The agency, which has provided food aid to 15 million Afghans in 2021, says it will increase the number of beneficiaries to 23 million in the coming year. WFP spokesman Tomson Phiri said the Afghan economy was in shambles, and currency depreciation made it increasingly difficult for people to feed themselves. WFP reports half of all children under five, around 3.2 million, are expected to suffer from acute malnutrition this winter. Around a million children suffering from this condition have received nutrition treatment and malnutrition prevention this year, as have half a million pregnant and nursing women.

MONDAY DECEMBER 20, 2021 • T H I S D AY

NEWS

Pregnant Woman Arrested with 1,441kg Imported Skunk in Lagos Michael Olugbode in Abuja The operatives of the National Drug Law Enforcement Agency (NDLEA) in clandestine operations on two Lagos drug stores have arrested a pregnant woman and four men, including a 62 year old, with total haul of 1,442 kilogrammes of imported skunk and 182,000 tablets of tramadal. The woman, Ms. Chioma Eze, was arrested last Friday when operatives raided her store and home in Ojo area of Lagos while another suspect, Michael Oroke was also nabbed with 29 kilogrammes of the illicit drug in the same location. A statement by the Spokesman of the NDLEA, Mr. Femi Babafemi, also said that last Thursday, operatives of the agency raided a hideout in Abule-Egba area of the state where Mr. Basset Emmanuel, Mr. Ezekwem Lawrence, Mr. Mohammed Aliyu and Mr. Suwidi Isiaku were arrested with 182,000 tablets of tramadol 225mg. He said in similar raids across eight other states of Rivers, Kogi, Benue, Adamawa, Anambra, Edo, Ekiti and Ondo, yielded over 4,000 kilogrammes of assorted

illicit drugs that were seized. On Saturday, during a routine stop and search exercise along Aba/Port Harcourt expressway, by Obigbo, operatives intercepted

a consignment of tramadol in a commercial Toyota Hiace bus, with a waybill addressed to one Mr. Shadrach Udechukwu, with a follow-up operation led

to Udechukwu’s arrest and different quantities of heroin, cocaine, methamphetamine, cannabis sativa, tramadol, Exol-5, Swinol, and Diazepam recovered

from him. In Kogi State, one Timi Sunday was arrested with 95.945 kilogrammes of cannabis at Egbe town, and Mr. Musa Sani with

10.5 kilogrammes cannabis along Okene-Lokoja highway while Mr. Yaro Bala was arrested with 65 kilogrammes cannabis on the same road.

CEDERS FREE MEDICAL CARE…

L-R: President, C.H.E.C.K Medical Missions, Dr. Adeleye Babarinsa; Beneﬁciaries of Cedars Free Medical Care, Mrs. Mary Habina and Mrs. Opeyemi Paul; Associate Pastor, Cedars House of Grace, Lekki, Pastor Olufemi Oluokun; Members, Cedars House of Grace, Mr. Tunde Wale-Temowo and Mr. Akinsumbo Agboola , during a three-day annual free medical care organised by Cedars House of Grace in Lekki, Lagos…recently KOLAWOLE ALLI

Edo APC Carpets Obaseki Olanipekun Blames Alleged Neglect of Ekiti South on Mistrust, Dishonesty on Phantom Parks

Adibe Emenyonu in Benin City

The Edo State chapter of the the All Progressives Congress (APC) yesterday tongue lashed the state governor, Mr. Godwin Obaseki on what it describes as many phantom parks by the governor that never materialised. The APC said it is deeply concerned that whereas other state governors seize opportunities of the nation's Number 2 citizen visits to showcase their many laudable people-centred projects, in their states, Governor Obaseki, since 2016 has never had nothing to show for all his grandiosity, whenever Vice President Yemi Osinbajo visits Edo State. The party in a statement by its Assistant Publicity Secretary, Ofure Osehobo and made available to Journalists, recalled that Obaseki's lackluster to governance, began in November 2017, when the Vice President, Professor Yemi Osinbajo was invited by him to lay the foundation for a

N200billion Benin Industrial Park, at Iyanomo in Ikpoba Okha Local Government Area of Edo State to marked his first year in office. According to the statement, "The APC has it on record that Governor Obaseki told Prof. Osinbajo that the industrial park will create 170, 000 direct and indirect jobs (out of the 200,000 he proposed by 2020) and contribute significantly to the country’s manufacturing sector. "Prof Osinbajo who did not know that it was a phantom project, expressed optimism that the Benin Industrial Park would in addition to job creation bring down the cost of goods and services in the state and country at large, change the face of the Nigerian economy and unleash its industrial potential. "Governor Obaseki had assured that the Park would be built within 12 months, and said the Benin industrial park is the First in the series of parks his administration intends to establish in the state to make Edo an Industrial hub.

Lagos Courts Acquit Two Benenoise of Stealing, Forgery Wale Igbintade Two separate high courts in Lagos State have acquitted two Benenoise nationals of the charges of conspiracy, stealing, and forgery filed against them by the Economic and Financial Crimes Commission (EFCC) in 2017. In the first suit marked LD/2415C/16, Justice Oluwatoyin Taiwo discharged Gnanhoue Sourou Nazaire and Senou Modeste Finagnon of a 12-count charge of the offences of conspiracy and stealing. The judge made the order following an application for withdrawal of complaint against the defendants, in the wake of

a consent judgment in another matter between a firm, Rana Prestige Industries Nig. Ltd; Nazaire and Mrs. Rachidatou. In a ruling obtained by THISDAY, Justice Taiwo held: “Learned Counsel for the Defendants, A. Shamsudeen Esq. and his team presented a Notice of Withdrawal of Complaint against the Defendants before the court. “Annexed to the Letter of Withdrawal dated 9 3/2021 is a consent judgment of the Federal High Court in Suit No FHC/L/ LS/ 1436/13, Rana Prestige Industries Nig. Ltd; Mr. Gnanhoue Sourou Nazaire vs. Mrs. Abdou Rachidatou (Mrs. Rachidatou is the nominal complainant in the charge before this court).

Victor Ogunje in Ado Ekiti

Former President of the Nigerian Bar Association, Chief Wole Olanipekun (SAN), has blamed the politicians from the Ekiti South Senatorial District of Ekiti State for the alleged political neglect of the zone, describing many of them as being allegedly dishonest, treacherous and unreliable to be trusted to fight for their rights.

Olanipekun accused the leaders of being feeble and timid to speak out for the zone in its quest to produce governor since 1999, which he said the combined forces of the Central and North have deprived them. The legal icon spoke in Ikere-Ekiti yesterday during the annual Wole Olanipekun's Christmas Carol, where he descended heavily on the politicians from that extraction

of selling the zone out to other districts to exploit. He spoke against the backdrop of vociferous agitations for power shift to the South and allegations of political marginalisation of the zone in the state's governance structure. Olanipekun, who was visibly embittered by the development, pointed fingers at some prominent politicians in the South who he called "midgets"

for betraying the zone's cause to mount the governorship seat in exchange for "political tokenism". "I pity those who say they are politicians from the Ekiti South. They want to play second fiddle because they think they are inferior. That is the way I see it. But if you say I want be deputy governor and I want to play a second fiddle, then, they will treat you as a second fiddler.

‘Effective Quality Control, Solution to Building Collapse’ Ugo Aliogo The Chief Executive Officer, Brandex Contractors Limited, Mr. Pelewura Omoniyi, has stated that the adoption of effective quality control by individual companies in the real estate business would address the issue of building collapse and unethical practices in the real estate sector. Omoniyi, who disclosed this yesterday in Lagos during the

launching of some their new projects, stated that there are players in this market who adhere to quality and standards in their building construction, while others prefer to cut corners, which he said is affecting the growth of the market. Speaking on market growth projection for 2022, he stated that next year, investors would be more concerned about standard of materials being used, the finishing and quality being carried out at

each stage of the building project. He explained that the economic realities in the country have affected many real estate businesses, adding that as a strong player in the market, they had to re-strategize and diversify their skills to other areas to break even in the business. “Beyond real estate business, we are into contracting, real estate is just one segment of our business. We work with the construction firms in terms

of contracting. In the real estate world, we tend to manage ourselves around a project due to inflation of prices of materials and other things. Concerning how we broke even, I will say that 2021 is a preliminary project for 2022 because most of our projects are project we just started, so we have not finished. We have new projects such as the Kings’ Court in Dideolu Estate Victoria Island, which we just resumed last week."

PDP Challenges APC on Killings in Niger, Sokoto, Plateau, Others

Chuks Okocha in Abuja

The Peoples Democratic Party (PDP) condemned what it described as the indefensible insensitivity of the All Progressives Congress (APC), a party in power, to the escalated killings in Sokoto, Niger, Katsina, Kaduna, Plateau states and other parts of the country by terrorists.

In statement by National Publicity Secretary, the PDP, Hon. Debo Ologunagba , the party said the manifest numbness of the APC leaders to bloodletting as well as the failure of the APC, as a party, to proffer any tangible solution or forcefully take its government to task on security, validate apprehensions on APC’s reported complicity in

the worsened insecurity in our nation in the last six years. The party asked "Is it not unpardonable that while the APC had failed to show empathy on the gruesome murder of scores of travelers who were burnt alive in Sokoto state, the massacre of over 15 worshippers in Niger state, other compatriots felled in Kaduna, Katsina and other parts of the

country in the last few days, its leaders and officials in government had the time to attend the turbaning ceremony of President Muhammadu Buhari’s son in the same troubled Katsina state? "Is it also not provocative, vexatious and indeed the height of heartlessness that APC and its leaders party while Nigeria burns?", the party asked.

Insecurity: NAF Graduates 648 Regiment Personnel Kingsley Nwezeh in Abuja In tandem with its policy on capacity building designed to tackle the challenge of insecurity in the country, the Nigerian Air Force (NAF), weekend, graduated 648 regiment personnel at the Regiment Training Centre (RTC), Kaduna.

In his address at the graduation ceremony, the Guest of Honour, Air Officer Commanding (AOC) Air Training Command (ATC), AVM Ayoola Jolasinmi, said the personnel, who completed the basic and advanced regiment courses, were products of a service committed to continually "pursuing purposeful training and

human capacity development" for enhanced force protection competences to secure and protect the citizenry. According to the AVM Jolasinmi, who was represented by the Chief of Staff ATC, AVM Emmanuel Chukwu, “the quality of training received by our regiment personnel is

evident in their deployment in several operational theatres across the country, where they are performing creditably in counterinsurgency and counterterrorism operations as well as in effectively providing military aid to civil authorities in furtherance to our national security objectives.”

MONDAY DECEMBER 20, 2021 • T H I S D AY

NEWS XTRA

IG Squad Arrests Youth Leader, Four Others for Killing, Kidnapping in Akwa Ibom Okon Bassey in Uyo Security operatives in Akwa Ibom State have arrested a youth leader and four members of his group for alleged kidnapping and murder in the state. The state Police Public Relations Officer (PPRO), Odiko Macdon, paraded the youth leader, Eddy Etim Onuka, and other suspects at the state Police headquarters at Ikot Akpana-Abia, Uyo, at the weekend. He said the suspects were arrested by the operatives of the Inspector General of Police (IG) Tactical Team in the state, with the suspects confessing using AK-47 rifles during the operations. The PPRO explained that Onuka, a native of Oron LGA of the state and the youth leader of the Rice Miller Association, Oron, allegedly masterminded the two kidnap incidents recorded in the area. One of the incidents, Macdon said, involved one Emmanuel, whom they shot dead while trying to resist them, and another incident was that

of one Aniekan, whom they succeeded in collecting over N20 million from him. Macdon said: "This is a clear case of kidnapping, and it is

a very unfortunate one. They went to abduct one Emmanuel, who sells engine parts, and when they got there, the man resisted the kidnap and they

shot him, they and some other members of the gang are at large now, but Eddy Onuka here was their leader is here. By the grace of God, the Special

Tactical Team of the IG moved in and effected arrest. This was the first incident. "In the second incident, the same Onuka let members of

the same kidnapping syndicate to abduct one Aniekan and successfully collected over N20 million from him as ransom.

ILE-OLUJI DAY CELEBRATION…

L-R: Jegun Olu-Ekun of Ile-Oluji Kingdom, Oba Olufaderin Adetimehin; his wife, Olori Adetokunbo Adetimehin; recipient, Ile-Oluji National Merit Award and Ondo State Commissioner for Finance, Mr. Akinwale Akinterinwa; his wife, Mrs. Oluremi Akinterinwa; Deji of Akure Kingdom, Oba Ogunlade Oguntoyinbo Aladelusi, and Osemawe of Ondo Kingdom, Oba Victor Kiladejo, during Ile-Oluji Day Celebration at Ile-Oluji, Ondo State…recently ABAYOMI AKINYELE

Fuel Marketers Threaten 2023: Tinubu Urged to Support Younger to Withdraw Services Candidate from South-east over Unpaid N50bn Chuks Okocha and Adedayo Akinwale inAbuja

Ibrahim Shuaibu in Kano Fuel marketers under the aegis of Northern Independent Petroleum Marketers Forum have lamented that the Petroleum Equalisation Fund (PEF) is yet to settle their bridging claim to the tune of over N50 billion for over nine month. The marketers lamented an incident that forced many of them out of the business. In a statement issued by the Forum's Chairman, Alhaji Musa Maikifi, and issued to journalists in Kano yesterday, it said for the past nine month, they had made efforts to get their money paid but to no avail. According to the statement, “If this continues in this way, so many of us will have to close down our fuel stations. This will add to the fuel scarcity in the region because the marketers have no capital.

“The federal government couldn’t settle our claims of over N50 billion. We met the authorities involved and they promised to pay us but yet they haven’t. So, that is why we are here to plead with them to pay us our unsettled claims so that we can continue our business smoothly.” It said they formed the Northern Independent Petroleum Marketers Forum to always have one voice that will speak on their behalf, adding that the leadership crisis rocking the IPMAN has also added to their burden which their forum is ready to address. Also, on his part, the Secretary of the Forum, Alhaji Zarma Mustapha, said the bridging claims were supposed to have been paid within two weeks, but for months now, they have not been settled, and that over 3,000 marketers from the North are involved.

Civil society groups under the aegis of Guidance of Democracy and Development Initiative (GDDI) and Partners for Legislative Agenda in Nigeria (PLAN) have called for the sack of the Chairman Senate Committee Chairman on Appropriation, Senator Barau Jibrin over alleged budget padding. The leaders of the groups, Comrade Danesi Momoh, Prince of GDDI, and Mr. Igwe Ude-Umanta of PLAN, said Jibrin's continuous leadership of such a sensitive committee was at variance with the All Progressives Congress (APC) anti-corruption crusade. The groups insisted that the Kano Senator could not remain the chairman of the committee in the face of the report of his alleged involvement in budget padding.

The groups said it was therefore incumbent on the Senate President, Dr. Ahmed Lawan to rise to the moral and patriotic occasion before him. They said: "The 2020 Appropriation Act is full of padded expenditures which have now been pronounced by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) as failing in all the integrity tests of accepted procedures in procurement and an aberration to the provisions of the Procurement Act. ''In the reported Constituency and Executive Tracking Exercise Phase 3 Report of the ICPC, it has become obvious that Senator Barau Jibrin has bestrode our national budget as a monstrous colossus, creating expenditures that can only be criminally explained, or accounted for.

The Director General of Voice of Nigeria (VON), Mr. Osita Okechukwu, has called on the National Leader of the All Progressives Congress (APC) Asiwaju Bola Tinubu to jettison his presidential ambition in 2023 and back a younger candidate from the South-east.

Okechukwu in a statement issued yesterday said Tinubu should throw his weight behind a younger person from the Southeast geopolitical zone to emerge as the President in 2023. The party chieftain said by so doing, Tinubu would have united the south foreverv as some northerners have complained that they are reluctant to support

Southern candidates because of lack of cohesion among the two major geopolitical zones in the South. He said: “If one is consulted by our national leader, His Excellency, Asiwaju Bola Ahmed Tinubu on whether he should run or not for the exalted office of the President of Nigeria in 2023, my candid advice will be that he should use his abundant Almighty

God’s endowment to unite the APC, and unite the South and by extension our beloved country, by backing a candidate from the southeast.” Okechukwu was of the opinion that if Tinubu widens his search, he would definitely find a credible candidate from the South-east who will easily defeat the presumed candidate of the PDP, former Vice President, Atiku Abubakar.

Boost as African Consolidated Exchange Commences Operations Goddy Egene Doing business on the African continents and financial transactions will soon witness a major boost as TE Markets, an adaptable company with interest and investments in real estate, mining and exploration, and digital financial services last Friday launched the African

Consolidated Exchange (ACEX). ACEX will ease the hassles of doing business among African entities and nations, while offering higher profits and at the same time, culturally unifying Africans. The Managing Director of TE Markets and President of ACEX, Mr. Ian Mvula, said the exchange will be a trailblazing infrastructure for players in the

financial markets and in Africa’s digital finance ecosystem. “This innovative infrastructure will serve as a digitalised general store for all forex traders, crypto traders, stakeholders and investors in the financial market on the African continent, and beyond. We are committed to positively rewriting the African story, with the commitment of our

seasoned team of diligent professionals,”Mvula said. According to him, ACEX, being a one-stop exchange built by TE Markets, will be a pan-African and multi-assets trading platform that will allow people to buy and sell stocks, Exchange traded funds (ETFs), Bonds, Forex , Cryptocurrencies and Commodities.

CSOs Want Senate Appropriation House Knocks NIS over Engagement of Visa, Passports Consultants at Foreign Missions Committee Chairman Sacked the world. office of the Auditor-General of NIS to appear before it Udora Orizu in Abuja The Committee Chairman, of the Federation, lamented on Wednesday to address over Alleged Budget Padding The House of Representatives Hon. Wole Oke, who frowned that it was costing the country the issue. Committee on Public Accounts Committee at the weekend tackled the Nigeria Immigration Service (NIS) over alleged engagement of consultants to manage visa and passport related matters at the Nigerian missions across

at the development when the acting Comptroller-General of the Service, Idris Jere, represented by Assistant Comptroller-General, Budget, Olubusola Fashakin, appeared before the lawmakers following a query from the

a lot of money and should be stopped immediately since there were personnel adequately trained for the same purpose. He, therefore, summoned the Minister of Interior and the acting Comptroller-General

The lawmaker also directed NIS to furnish it with procurement records for utilisation of money collected through service wide votes and deployed for capital purposes from 2013 to 2018.

Three Killed in Cult-related Clash in Anambra David-Chyddy Eleke in Awka

Three persons have been feared killed in Amawbia community near Awka, the Anambra State capital. A source, who spoke to THISDAY yesterday, said the killing was not unconnected to persistent cult clashes in the state capital. There have been series of

killings in Awka and environs for close to two years now, and these have been said to be related to tussles by rival cult groups in the state. A source, who disclosed the killing to THISDAY, said: "It happened this (yesterday) afternoon, very close to the house of the National Chairman of All Progressives Grand Alliance (APGA), Mr. Victor Oye.

"We were coming back from church when we noticed that there was a problem. When we asked, we were told of the killing. When we moved a little further, we saw a dead body of the ground, but we were told that three people were killed in all. "Some people even said that one of the persons killed was a security guard, who works with the APGA chairman."

Meanwhile, attempt by THISDAY to confirm the death of the persons and the circumstances of their death from the Anambra State Police Command was not successful. The spokesperson of the state Police Command, DSP Toochukwu Ikenga, was yet to reply to the messages sent to his telephone as at the time of filling this report.

MONDAY, ͺ͸˜ ͺ͸ͺ͹ ˾ T H I S D AY

MONDAYSPORTS

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

0811 181 3083 SMS ONLY

Libya’s Al-Ittihad Walk over Enyimba in Benghazi to Reach Group Stage

Duro Ikhazuagbe Nigeria’s last team in CAF’s Confederation Cup, Enyimba FC of Aba, may have crashed out of the second tier continental competition via a walked over yesterday in Benghazi, Libya. Al-Ittihad who penultimate week lost 0-2 in Aba, yesterday walked over the Nigerian team at the Benina Martyrs Stadium in Benghazi after the People’s Elephant could not make the trip to Libya to honour the December 19 date for the fixture earlier to have been played in Tunisia. The circumstances leading

to Enyimba’s exit appeared to have started from their inabilities to cross from Morocco into Tunisia due to Covid-19 restrictions in Tunisia that required 14days quarantine for both coming in and going out of the country. THISDAY learnt that CAF accepted Enyimba’s explanations on why they could not cross from Morocco into Tunisia to honour the first leg tie. Al-Ittihad’s quest to walk over Enyimba was turned down. In other to honour dates set for the second leg ties, both teams agreed to play the second leg ‘first’ in Aba which the Nigerian team won.

CA F C O N F E D E R AT I O N C U P Enyimba even made attempts to influence CAF to accept the tie to be one-off but the request was turned down. THISDAY further checks revealed that the decision to play yesterday’s match in the window of December 17-19th was taken by CAF’s Organizing Committee of Inter-clubs Competitions on December 1 and was communicated to all parties.

But instead of Enyimba to begin preparations for the match, appealed for the match to be moved to December 31. CAF’s Appeals Committee turned down the request, insisting that only Al-Ittihad could grant such a request. The Libyans refused and insisted on yesterday. Time however was too short for the Aba team to begin preparations to travel

in barely 48 hours. The result was the walk over that took place yesterday in Benghazi with Al-Ittihad qualifying for the Group stage of the Confederation Cup alongside another Libyan side, Al-Ahly Tripoli that progress via shootout victory over Stade Malien. Enyimba FC’s Chairman, Felix Anyasi-Agwu in his reaction described the walk over as part of ‘Arab conspiracy’ in African interclubs football.

Speaking on SportsVille programme on Channel Television yesterday, Anyasi insisted that the time was too short between when the Appeals Committee turned down their request to extend the date and yesterday when the match took place in Benghazi. He however admitted that Plan ‘B’ to charter an aircraft to lift the team to Libya did not materialize due to the demand of $150,000 by the airline.

Cup Holders Akwa Utd, Kwara Utd, in Flying Start of New NPFL Season Cup holders, Akwa United opened the defence of the Nigeria Professional Football League (NPFL) title they won last season with a resounding 3-0 home win against former champions Kano Pillars at the Godswill Akpabio International Stadium in Uyo. The big win was however one of the goal feasts that characterized the Match-day 1 of the new season of the Nigerian topflight that kicked off officially with the Remo Stars 2-0 victory at MFM FC of Lagos on Friday. Ezekiel Bassey scored the first goal of the new season at the Nest of Champions to give the Promise Keepers the edge over the Sai Masu Gida just before half time. Stephen Chukwude and Friday Ubong got the job done perfectly well with the two other goals. In Aba, record champions Enyimba who got walked over in Benghazi, Libya in a CAF Confederation Cup took consolation in their 2-1 win over local rivals Abia Warriors. The derby was set alive in the 34th minute when new signing Ekene Awaziem handed the People's Elephant the lead but the Warriors equalized in the 50th minute through Paul Samson. However, it was another new signing Chinedu Obasi who scored the winner in the 77th minute for Enyimba who are now on an eight-match unbeaten run against Abia Warriors. In Katsina, it was a winning start for NPFL giants, Enugu Rangers as they held on to a 1-2 away win at the Mohammed Dikko Stadium. The Flying Antelopes took the lead in the 13th minute thanks to a goal from Ossy Martins in his first competitive game. The hosts, Katsina United clawed back through Salisu Mustapha. It was Rangers that would have the last laugh as Ossy Martins completed his brace in the 54th minute. The former

NPFL champions ended the match with ten men after goalkeeper Mutawakilu Seidu was sent off for a second bookable offence. In Makurdi, last season's runner up, Rivers United started its 2022 campaign with an away 1-1 draw against Lobi Stars. Rabiu Kayode Ishaq silenced the home crowd at the Aper Aku Stadium when he handed The Pride of Rivers the lead in the 27th minute but Barnabas Imenger Junior equalized just after half time as both teams shared the spoils. Kwara United also recorded a harvest of goals in Ilorin as it began its season in style, brushing aside Dakkada FC 3-0 at the Kwara State Sports Complex. A brace in either half from Stephen Jude and a debut goal for Junior Lokosa ensured the Harmony Boys started the season with a win. In Owerri, it was goals galore as Heartland and Nasarawa United played out an exciting 3-3 draw at the Dan Ayam Stadium. Heartland's goals were scored by Ikenna Stephen (41st), Nwaodu Chukwudi (48th), and new signing Chinedu Ohanachom (67th) while Nasarawa United's goals were scored by Ajibola Otegbeye (15th and 42nd) and Abubakar Abdullahi (76th).

MATCH DAY 1 Gombe Utd 0-0 3SC Akwa Utd 3-0 K’ Pillars Lobi

1-1 Rivers Utd

Katsina Utd 1-2 Rangers Enyimba

2-1 Abia Warriors

Kwara Utd 3-0 Dakkada Heartland 3-3 Nasarawa Tornadoes 1-0 Plateau Utd MFM FC

0-2 Remo Stars

TODAY Sunshine v Wikki Tourists

Enyimba FC were yesterday walked over in Benghazi, Libya as Al-Ittihad reached the CAF Confederation Cup group stage

Imo Deputy Speaker Commends Heartland after Thrilling Home Draw Imo State House of Assembly Deputy Speaker, Amara Iwuanyanwu has given a pat on the back to Heartland players, insisting that the 3-3 home draw against Nasarawa was not a bad start to the new season. Iwuanyanwu noted that the match against Nasarawa was a difficult one against a very strong opposition. The deputy speaker further observed that Nasarawa is one of the strongest sides in the NPFL and they proved that much with their performance last season. Nasarawa, it be noted, finished runners in the FA Cup last term and missed the league on the very last day. Iwuanyanwu stressed that scoring three goals in the league opener shows Heartland have a solid team, even as he thumbed up Gov Hope Uzodimma for motivating the team ahead of the very first game. Gov Uzodimma had on Friday unveiled the team's new jerseys and assured the players of total support of his administration. "Starting with a thrilling 3-3 draw against Nasarawa is fine.

I want to say a big thank you to our governor, Senator Hope Uzodimma for his support. “He charged the team to go all out when he met us on Friday

to unveil our new jerseys. The players also deserve a pat on the back. “We also appreciate the support of the fans. This is

a clear sign that we are in for a fine run this term," Iwuanyanwu who oversees the team concluded with air of optimism.

L-R: Imo State Governor, Hope Uzodimma; Acting General Manager of Heartland FC, Promise Nwachukwu; and the Deputy Speaker, Imo House of Assembly, Amara Iwuanyanwu, at the unveiling of Heartland’s Jersey for the new 2021/22 NPFL season in Owerri ...last Friday

MONDAY, ͺ͸˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

Spurs Hold Liverpool in Four-goal Thriller City’s win at Newcastle denies Red lead at Christmas Liverpool yesterday lost ground in the Premier League title race in a pulsating 2-2 draw at Tottenham that was packed with incident and saw Andrew Robertson sent off for the visitors. Manchester City's 4-0 victory at Newcastle earlier meant Liverpool could not top the league at

Christmas for the first time in four years, with Jurgen Klopp's side now three points adrift. Harry Kane ended his Premier League goal drought when he found the bottom corner from Tanguy Ndombele's pass but Spurs wasted a number of opportunities to double their lead.

Diogo Jota made the hosts pay on 35 minutes by heading in a cross from Robertson, who had missed a golden chance of his own in the opening 70 seconds. Robertson then headed the Reds in front in the second half only for Son Heung-min to level after a mistake by Alisson four

minutes later in an open and frenetic game. Liverpool left-back Robertson had been excellent but was sent off for a reckless hack on Emerson Royal, a decision given after Paul Tierney reviewed the decision on the pitch-side monitor. The draw extends Antonio

Conte's unbeaten league start at Tottenham to five games, though his side stay seventh with games in hand on those above them. COVID ravaged Chelsea that also drew goalless at Wolves stay third on 38 points.

RESULTS Premier League Newcastle Wolves Tottenham Everton

0-4 0-0 2-2 v

Man City Chelsea Liverpool Leicester (PP)

LaLiga Granada 4-1 Mallorca Bilbao 3-2 Betis Getafe 1-0 Osasuna

Serie A Fiorentina Spezia Sampdoria Torino

2-2 1-1 1-1 1-0

Sassuolo Empoli Venezia Verona

Raiola Hits Back at Critics over Pogba’s Transfer Commission Mino Raiola has hit back at accusations that he personally received nearly €50m for his role in Paul Pogba's return to Manchester United from Juventus in 2016. United agreed to pay £89m, a British record at the time, to bring Pogba back to English football after four years in Italy, and there have long been disputes over just how much Raiola was paid in commission for his services as the Frenchman's agent. Leaked documents from Football Leaks alleged that Raiola was paid €48m (£41m) for his role in the deal, but the agent told NRC that such claims are nonsense. "That amount from Football Leaks is not correct," he said. “I will say no more about that transfer. "Authorities in several countries have looked into it, nothing illegal happened, and yet I'm still plagued by it. Since the Pogba deal I have been hounded by the Dutch tax authorities, who think I live in the Netherlands. Nonsense, I have lived in Monaco

since 1997. "Of course these transfers involve large amounts. What do you think those top clubs owe their hundreds of millions of turnover to? Where do you think those transfer amounts come from? They come from television rights, sponsorship income and ticket sales because people want to watch my players." At the time of the Pogba transfer, then-CEO Giuseppe Marotta claimed (via ESPN) that Raiola had actually been paid closer to €27m for his services. Amid concerns over the amount Raiola earns from his transfer dealings, the agent insisted critics are simply envious of his success. "That's jealousy," he said. "We (agents) ensure that players can perform optimally. And that the player gets his fair share. Otherwise, we would still have been sitting around with napkins on which some numbers were scribbled. I am fortunate to work in an industry that has grown exponentially."

Harry Kane (centre) ended his goal drought, scoring Tottenham Hotspur’s opening goal in the 2-2 draw with Liverpool...yesterday.

Paralympians Dominate Bet9ja Partners Nigerian Professional Football League Valuejet Para T’Tennis Open PHOTO: TOTTENHAM HOTSPUR FC VIA GETTY

Duro Ikhazuagbe As the 2021/22 Nigerian Professional Football League (NPFL) officially kicked off yesterday across the country, corporate bodies supporting foreign football clubs and other sporting bodies have been urged to have a rethink and channel such funds to growing domestic football in the country. New Chief Executive Officer (CEO) of the League Management Company (LMC), Davidson Owumi gave this charge in Lagos at the signing of the partnership between Nigeria’s foremost sports betting platform, Bet9ja and the Nigerian Professional Football League (NPFL) last Thursday. Owumi insisted that “most of these foreign clubs do not even know if these companies pumping hard-earned foreign currencies to them as sponsors exists.” While praising Bet9ja for the bold move to identify with the country’s topflight league, the LMC’s CEO assured the sports betting company that the relationship “is going to be a mutually benefiting one for all parties involved. “No other event provides the kind of mileage the league gives. This relationship will benefit the clubs as well as help project Bet9ja to the nooks and crannies of the country and beyond.” Earlier, Bet9ja’s Head of Marketing and Corporate

Communications, Femi Osobajo, revealed why the company threw its weight behind the domestic league. “While we are the biggest sports betting platform in Nigeria, a decent amount of activities that goes on in our platform are from foreign Football leagues.” “The Nigerian Professional Football League needs all the support it can get, which is

why we are throwing our weights behind them, and we are hopeful that this partnership would lead to more opportunities and provide a platform for the NPFL to get the kind of publicity it deserves,” he said. As part of the partnership deal, Bet9ja was signed up as the “Official Supporter/Sponsor of the NPFL under the Betting and Gaming category.

In attendance at the brief but colourful event was the Chairman of the LMC, Mal. Shehu Dikko and NFF’s First Vice President, Seyi Akinwunmi, as well as Head Human Resources, Bet9ja, Kikky Boboye; Head of Special Projects at LMC, Harry Iwuala, Bukola Olopade’s Nilayo Sports Management Company brokered the partnership.

Tokyo 2020 Paralympians became the star performers at the grand finale of the 3rd Lagos Valuejet Para Table Tennis Open with the trio of Isua Ogunkunle, Faith Obazuaye and Olufemi Alabi claiming gold medals in their various classes. Also, the Lagos State Government through the First Lady, Ibijoke Sanwo-Olu, has

L-R: Head HR, Bet9ja, Kikky Boboye; First Vice President, Nigeria Football Federation, Seyi Akinwunmi; Chairman, League Management Company, Shehu Dikko; Head of Marketing and Corporate Communications, Bet9ja, Femi Osobajo, at the oﬃcial signing of the partnership contract in Lagos...recently

affirmed the state’s commitment to the welfare of special athletes across the state. At the finale of the three-day championships, Ogunkunle who is the current African number one in men’s class four claimed the gold in the singles and open events, while Alabi, a bronze medalist at Tokyo 2020 ruled the men’s class 10 in singles and open events. 2018 Commonwealth Games silver medalist, Obazuaye continued her dominance of the women’s class 10 when she claimed the gold medal in singles and open events. New-kid on the block, Ifechukwude Ikpeoyi, again showed why she remains the undisputed in the women’s class five when she defeated experienced Faith Obiora to claim gold medal in singles and open events. Ahmed Kolesoho and Victor Farinloye who are both Tokyo 2020 Paralympians managed to win gold medals in the singles event of men’s class three and eight respectively but failed to make it to the top spot in the open events. Speaking at the event, SanwoOlu lauded the organisers of the championships for taking interest in the welfare of the special athletes, while affirming the state commitment to the plight of the athletes.

Monday December 20, 2021

UT H

& RE A SO

Price: N250

MISSILE Northern Alliance Movement to Buhari

“We ﬁnd it very disheartening and disappointed that at a time when people are being killed, when a lawmaker was killed in the president’s state, this is apart from the killings and kidnappings in the Northern parts of the country, the president could leave the country. It is a bad attitude that we never expected from our president” – NAM Coordinator, Yahuza Getso, berating the president for leaving the country during crisis.

MAHMUDJEGA VIEW FROM THE GALLERY

Intelligent as the Giraffe I have a cheering View From the Gallery for you this morning. It is this: don’t be dispirited too much by Sultan Muhammad Sa’ad’s mournful statement three days ago, that too many Nigerians are reluctant to present themselves for COVID vaccination due to “lack of trust.” The Sultan didn’t say so but Nigerians apparently distrust the Presidential COVID committee, World Health Organisation, all medical experts, giant pharmaceutical firms, patent medicine stores and billionaire do-good philanthropists. The Sultan’s statement, at the 2021 4th quarter review meeting of Northern Traditional Leaders Committee [NTLC] on Primary Health Care Delivery in Abuja, expressed disappointment that despite repeated assurances by medical experts and government officials, too many Nigerians have not come forward to receive one COVID vaccine dose, not to mention two doses, before we even get to the matter of booster shots which began last week. However, I have uncovered evidence that Nigeria is not doing too badly in COVID vaccination rate compared to some other countries in the world. The question you may hurry to ask is: which countries are those? I scrambled to take a look at the New York Times’ Tracking Coronavirus Vaccinations around the world, which it compiles from government figures and updates regularly. The figures are not too bad, worldwide, because as at yesterday, 4.46 billion people or 58.1% of the world’s population have received at least one COVID-19 vaccine dose. The devil however is in the breakdown. Some countries have achieved very high vaccination rates. 92% of all UAE citizens, 89% of the people of Brunei and 83% of all Cubans have received the full dose, these being serious, uncynical and scientifically-minded peoples. There are no reports that any of these vaccine guinea pigs are falling to the ground like autumn leaves, as many Nigerians expect to hear. When the aviation spat between Nigeria and UAE ends, hopefully soon, thousands of Nigerians will resume their shopping and medical trips to Dubai and will enjoy the safety of a nearly fully vaccinated population, which they refuse to do at home. Other countries are hot on the heels of those top three. Mainland China, for example, where the whole COVID trouble started, has an 83% full vaccination rate. This shows that the Communist Party of China is weak these days. In the days of Chairman Mao, one poetic admonition from the Great Helmsman, and the country will achieve 100% success rate within days. 83% of Singaporeans, 81% of South Koreans, 80% of Spaniards, 80% of

Health Minister, Osagie Ehanire

Malaysians, 78% of Canadians and 79% of Qataris were fully vaccinated as at yesterday. Many Nigerians will roll their eyes in disbelief and say that these people do not love their lives or do not care for their reproductive ability, as if libido has taken us very far in this world. As I said earlier, Nigeria has not done badly because a full 2% of Nigerians have received the full COVID vaccine dose. This very high success rate puts us in the same bracket as Niger Republic and Madagascar, both at 2% each. Remember that Madagascar invented

Nigeria has not done badly because a full 2% of Nigerians have received the full COVID vaccine dose. This very high success rate puts us in the same bracket as Niger Republic and Madagascar, both at 2% each

the first all-African herbal drug for COVID, a sample of which Nigeria collected but we are yet to hear what Ministry of Health did with it. Nigeria’s vaccination success rate is only slightly behind Djibouti, with 2.7%. We are within shouting distance of Uganda, which has 2.9%. Nigeria is also ahead of many African countries including Tanzania, 1.9%; Burkina Faso, 1.6%; Mali, 1.7%; South Sudan, 1.6%; Ethiopia, 1.3%; Guinea Bissau, 1.1%;Chad, 0.1%; Congo, 0.1% and Burundi, less than 0.1%. Tanzania’s success rate must be credited to its late President Magafuli, who did not believe there is COVID. Not only in Africa; we actually beat some non-African countries hands down in COVID vaccination rate. Among those we beat are Yemen with 1.3% and Haiti, 0.6%. Some of those countries will try to give excuses. Yemen will attribute its 1.3% vaccination rate to civil war and the world’s worst humanitarian situation, while Haiti will claim that its president was assassinated, shortly followed by a devastating earthquake. The African nations that we beat in vaccination rate are also fond of creating excuses. South Sudan will claim that it is the world’s newest country and is ravaged by war. Nor should we accept Chad’s excuse that rebels killed its very dynamic president Idris Deby Itno, who would have led the vaccination war from the front. Even Ethiopia’s plea that Tigrean rebels are advancing on Addis Ababa is not a good reason. Nigeria has really shown good leadership in this matter. We are like the giraffe among hoofed animals. Readers’ Digest once stated in an article about the giraffe that “it is the most intelligent among the animals with hooves.” It however added, “This is not high praise, because the animals with hooves are the stupidest of all animals.” African countries that claim higher vaccination figures than us should be subjected to forensic audit. Imagine Sudan with 2.9%, Cameroon claiming 2.4%, Malawi 3.4%, Sierra Leone 4.9%, Ghana 5.1%, Zambia 5.1%, Senegal 5.8%, Ivory Coast 5.9%, Kenya 6.6%, Benin Republic 9%, Gambia 9.7%and Togo 10%. How can we accept these figures as genuine? A Judicial Commission of Inquiry should be set up, preferably by Lagos State Government, to forensically examine the evidence from these countries. Alhaji Lai Mohammed should be on standby to examine the report before a white paper is issued. Imagine Somalia, which has no government to speak of since Mohammed Siad Barre fled to Lagos in 1991, is claiming 4.3%. Syria says it has a 4.5% vaccination rate, even though debris from barrel bombs is yet to clear in Aleppo. What even annoys Nigerians

most is Afghanistan, which is claiming a 9.4% success rate. Are we saying the Taliban is less ardent at defending its country’s religious purity than roadside Nigerian mosques? Some countries that we Nigerians look up to provide leadership in health matters proved to be only slightly ahead of us in COVID vaccination rates. Russia, which is busy assembling troops on the Ukraine border, has 43%. Saudi Arabia, where every inch of the soil is awash in oil, has 67%. Pakistan, which impressed all Third World nations by building nukes in record time, has 27%. Egypt, our prime medical destination, has 18%. South Africa, which Nigerian traders regard as the African Green Pasture, has 27%. India, where Nigerians run to when every medical trick has failed, is at 39%. I am sure determination and seriousness has more to do with this than resources because West Bank and Gaza recorded a 30% vaccination rate. The reason why we should not despair in this matter is that we Africans can always plead poverty, high illiteracy, insecurity, hoarding of vaccines by rich countries, poor medical facilities, quick expiry of vaccines and frequent strikes by health workers for our low vaccination rates. Other countries that lack similar excuses still failed to record impressive vaccination rates. Israel, which was busy producing Pegasus software, is at 64%; United Kingdom recorded only 70%; Germany is at 70%; France has 72%; Netherlands 74%; Italy 74%; Belgium 76%; Ireland 77%; Japan, highly industrialised as it is, has 78%. Wonder of wonders, USA is at 61%. All these rich developed countries, what is their excuse? In the US at least, we know that pro-Trump right-wing America Firsters, fiscal, social and religious conservatives believe that the Liberal Establishment invented the COVID scare in order to destroy Trump’s presidency, steal the 2020 election, stop building the wall on Mexico’s border and allow Muslim jihadists to flood the country. Here in Nigeria, what is our excuse? It is that the COVID vaccine was produced in record time, that it could be harmful, that some billionaires are profiting from it, and that it could contain a hidden anti-fertility agent. Very good. By the time you come down with high fever, rib-cracking cough and choking breathing problems, your family members distance themselves from you, you phone the COVID centre and there is no answer, you call for an ambulance and it has no fuel, you manage to reach isolation centre and there is no bed, you are gasping for air and the oxygen tanks are empty, all your pet theories of White conspiracy and Bill Gates profiteering will fall apart.

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