For Smoother Yuletide, FG Approves Free Transportation for Commuters Favours Lagos-Ibadan, Abuja-Kaduna, Warri-Itakpe rail corridors Okays 50% reduction in road transportation on 28 routes nationwide
Deji Elumoye, Kasim Sumaina and Folalumi Alaran in Abuja
In the spirit of Yuletide, the federal government, yesterday, rolled out programmes aimed at reducing
the burden of rising inter-state transportation fares across the country. The government announced
rebate for commercial road and rail transportation across 28 luxury bus routes and three railway corridors
nationwide. Chairman of the Inter-ministerial Committee on Presidential Interven-
tion and Minister of Solid Minerals Continued on page 16
Nigeria's Public Debt Grows by 0.61% in Three Months to N87.91trn... Page 8 Thursday 21 December, 2023 Vol 28. No 10480. Price: N250
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Lamido: Tinubu Didn’t Broker Peace in Rivers, He Enhanced APC’s Fortunes
Chuks Okocha in Abuja, Sylvester Idowu in Warri and Blessing Ibunge in Port Harcourt
R-L: Former President Goodluck Jonathan; his wife, Dame Patience Jonathan; First Lady of Nigeria, Senator Oluremi Tinubu; Olu of Warri Kingdom, His Majesty, Ogiame Atuwatse III, CFR; Queen Consort, Warri Kingdom, Olori Atuwatse III; former Head of State, Yakubu Gowon and his wife, Victoria Gowon, during the Christmas carol service held at the Presidential Villa, Abuja... yesterday.
Former governor of Jigawa State, Sule Lamido, has said contrary to the impression being created, President Continued on page 16
Senate Screens S’Court Justice Nominees Abiru,Tsammani, Adumein, Sankey, Uwa, Nwosu-Iheme, Ogbuinya, Adah,Tukur, Umar, Idris Frowns at emergency appointments by NJC
Sunday Aborisade in Abuja
The Senate, yesterday, screened the 11 newly appointed justices of the Supreme Court behind closed doors. The lucky justices included Haruna Tsammani (Northeast), who chaired the Presidential Election Petition Court; Moore Adumein (South-South), Jummai Sankey (North-central), Chidiebere Uwa (South-east) and Chioma Nwosu-Iheme (South-east). Others were Justice Obande Ogbuinya (South-east); Justice Stephen Adah(North-central); Justice Habeeb Abiru (South-west); Justice Jamilu Tukur (Northwest); Justice Abubakar Umar (Northwest), and Justice Mohammed Idris (North-central). Currently, the Supreme Court operates with only 10 justices, falling short of the statutory requirement of 21 judges. But, if confirmed, it would mark the first time in history that the Supreme Court reached its full complement of 21 justices, as mandated by law. Continued on page 16
GLO FESTIVAL OF JOY HOUSE WINNER...
L-R: Globacom’s Retail Sales Chief, Lagos, Lawrence Odediran; Debo Benson and Ijeoma Bassey of the Nigerian Communications Commission; house winner in the Glo Festival of Joy Promo, Engineer Moses Tsado; His Royal Highness, Oba Ojomu of Lakowe Iwerekun, Ibeju-Lekki, Oba Abdul Hakeem Olusegun Ojomu; Zonal Coordinator, National Lottery Regulatory Commission, Lagos, Priscilla Onuzulu, and Glo Influencer, Nnenna Ekere, at the presentation of the house prize to Tsado by Globacom in Lagos... yesterday
113 Generals Bow Out of Army as Defence Minister Assures of Prompt Payment of Pension... Page 34
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Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580
NEWS
Parade ceremony of the AVSEC Cadets...
L-R: MD/CEO, Federal Airports Authority of Nigeria (FAAN), representing Barr Festus Keyamo, the Minister of Aviation and Aerospace Development, Mrs. Olubunmi Kuku; Chief Aviation Security Officer, Atibaka Fred; and PHOTO: KOLAWOLE ALLI. Acting Director, Aviation Security Services, Mr. Nath Onogboiria, during the passing out parade ceremony of the AVSEC Cadets held at Digital Bridge Institute, Lagos...on Tuesday
House Investigates NNPCL over $60bn Revenue Loss to Inflated Contracts Urges CBN to adopt Chinese Yuan as official FX reserve
Adedayo Akinwale in Abuja The House of Representatives has resolved to launch an investigation into the loss of over $60 billion in revenue due to inflated cash calls by the Nigerian National Petroleum Company Limited (NNPCL) Joint Venture agreements. The decision was sequel to the adoption of a motion moved at plenary yesterday by Hon. Chika Okafor. The House also mandated its Committees on Banking Regulations, Banking and Other Ancillary Institutions to liaise with the Central Bank of Nigeria (CBN) to explore the appropriate mechanisms, policies, and partnerships required for the adoption of the Chinese Yuan (CNY) as an official foreign exchange reserve currency, alongside other major international currencies. That was after the adoption of a motion on the need to use the Chinese Yuan to mitigate the effect of Naira depreciation, moved at plenary yesterday by Hon. Jafaru Leko. Moving the motion on the investigation of revenue loss to bloated cash calls, Okafor said NNPCL, on behalf of the federal government, operated joint ventures and related agreements with private oil companies in both oil and gas sectors, with the aim of sustainable revenue generation and economic development. He stressed that NNPCL, as the representative of the federal government and the federation, had
about 60 per cent holdings, while other partners had the remaining 40 per cent. Okafor added that the joint ventures operated under a “Joint Operating Agreement” that spelt out the responsibilities of each of the partners in the ventures. He stated, "Concerned that due to bloated Cash Call Costs, the NNPCL Upstream Investment Management Services (NUIMS), a unit under the NNPCL in charge of negotiation of costs (both Capex and Opex), have caused huge losses in the neighbourhood of ($60,000,000,000) Sixty Billion Dollars over the years." The lawmaker expressed worry that the activities of NNPCL Upstream Investment Management Services (NUIMS) had resulted in huge revenue losses, fiscal deficits, and an alarming debt profile. The House, therefore, mandated "the Committees on Finance and Petroleum Resources (Upstream) to conduct a comprehensive investigation on all the NNPCL Joint Venture Operations to determine income and Cash Call costs due to each partner, especially the Federation/ FGN, and whether due process and diligence were observed in the exercise." Leko, while presenting the motion on the adoption of the Chinese Yuan, said the Nigerian economy had experienced substantial shifts regarding the value of the naira, triggering economic instability and uncertainty. He said the International Monetary Fund (IMF) proposed
diversification of foreign exchange reserves for central banks of developing countries, including Nigeria. The lawmaker pointed out that the global economic landscape was evolving and international trade dynamics were shifting, with China assuming a leading role in global trade.
Minister of Information and National Orientation, Alhaji Mohammed Idris, has reiterated federal government’s commitment to a free press. He echoed this in Abuja while receiving officials of the International Press Institute (IPI), Nigeria. He underscored the vital part to be played by the media in instituting democracy in Nigeria and stressed it should be recognized for this vital role. Idris reiterated the position of President Bola Tinubu on the matter, saying he was a product of democratic struggle, had every reason to support freedom of the
press and had promised that his government would not consciously trample on the press. “In a democratic society where the role of the media is established, we must allow it to play its role in reporting and setting agenda for development. We only ask practitioners to be responsible in this duty,” he said. The minister noted that the Nigerian polity was desirous of social engineering for which the government required the support of all stakeholders, including the press. He reckoned that cleaning this system for optimum performance is a collective responsibility.
with exchange rate fluctuations, and enhance Nigeria's economic stability. The lawmaker said the move would enhance Nigeria's trade and economic ties with China, a crucial trading partner. The House mandated, "The Committees on Banking Regulations, Banking and Other Ancillary
Institutions to liaise with the Central Bank of Nigeria to explore the appropriate mechanisms, policies, and partnerships required for the adoption of the CNY as an official foreign exchange reserve currency, alongside other major international currencies, and report back within four weeks for further legislative action."
Senate Summons CAC Registrar for Shunning Budget Defence Session Akpabio declares two Senatorial districts' seats vacant Swears in Lalong as Senator
Sunday Aborisade in Abuja
The Senate Committee on Finance, Chaired by Senator Sani Musa has mandated the Inspector General of Police to compel the Registrar General (RG) of the Corporate Affairs Commission (CAC), Ishaq Hussain Magaji, to appear before it within 24 hours. Musa, gave the order yesterday, when the Registrar General refused to honour the invitation of the Committee for the third time. The RG was expected to appear to defend the Commission's 2024 budget, but some financial discrepancies were spotted by the Committee in the book of accounts submitted. The panel said he needed further explanation, a development that
Idris Receives IPI Officials, Says Media Crucial to Nigeria's Social Engineering Drive Olawale Ajimotokan in Abuja
Leko stressed that the People's Republic of China had a stable and globally recognised currency, CNY, which was gaining recognition in international trade. He emphasised that adopting the Chinese Yuan as an additional foreign exchange reserve currency might mitigate the adverse effects of naira depreciation, reduce the risks associated
He commended the President of IPI Nigeria on his appointment and urged him to apply his excellent example in online publishing to his new role. Earlier, the President of the IPI, Musikilu Mojeed, said the media landscape in Nigeria was improving, and there was renewed hope for media practice. He called on the government to ensure the safety of journalists wherever they work. He reassured the minister, who he described as a foundation member of the institute in Nigeria, of their support, while expressing optimism that this administration has marked itself as a media-friendly nation with the minister’s appointment.
seemed to have scared the CAC boss from appearing before the Committee. The four senior officials of the CAC having confirmed several letter of invitation by the Clerk of the Senate Committee on Finance could not explain reasons RG's absence before the panel. Reacting, Senator Abdul Ningi advised the CAC officials not to come back without the RG, urging them to let the CAC face the heat and explain how the spent money in the agency. Ningi said, "Mr. Chairman, it is imperative to understand where they are coming from that this is not the first time they are appearing before the Committee. "There was a deliberate discussion with you that there was discrepancies in revenue generation and expenditure by the Corporate Affairs Commission and we said, the Registrar General should be here. "Yet you are here and you probably told him that you can do the job. Even if you can do the job, this job is not for you please. Don't take the bullet that is meant for him". "In his ruling after reactions by the Committee members, Sani Musa said: "With all sense of humility, the Corporate Affairs Registrar General has disregarded this Committee. "Distinguished Colleagues, Corporate Affairs Commission was present when we treated MTEF/FSP and the Director of Finance were here. We saw discrepancies and we told you to go and come back. "You have your book keepers; you have your records and we asked you to go and tidy up and report back, but you never did.
"I have cause to tell the Secretariat to send you a letter to appear here. When you came, you said the Registrar General just fell ill, I excused you expecting you are going to come back with documents requested. "You know what the financial regulation of this country is. I had cause to tell the Committee Secretariat to write you again and you are here without the RG. "You are the custodian of finances of the Corporate Affairs Commission and there are discrepancies. "How many entities are registered in this country. How many? How much were you reporting there and you are taking us with levity. "I am invoking Section 89(2) mandating the Inspector General of Police to compel appearance of the Registrar General of the Corporate Affairs Commission before the Senate Committee on Finance within 24 hours." Meanwhile, the Senate President, Godswill Akpabio, during plenary yesterday, declared vacant, the seats of Ebonyi South and Yobe East Senatorial Districts. The seats became vacant following appointments of David Umahi and Ibrahim Geidam as Ministers of Work and Police Affairs respectively. Since their appointments as Ministers, the two Senatorial Districts have been left unrepresented at the upper chamber. Akpabio, during plenary, called on the Independent National Electoral Commission (INEC) to conduct by-elections in the two senatorial districts for representation at the upper chamber. "INEC may therefore wish to commence the process of conducting
by-elections to fill the vacancies immediately” the senate president said. In the meantime, former Minister of Labour Employment and Productivity, Simon Lalong, has been sworn in as a member of the 10th Senate. Lalong was sworn in during plenary by the President of the Senate. The former governor of Plateau State took the oath of office about 11.57am on the floor of the Senate. Akpabio immediately congratulated Lalong, a former Governor of Plateau State, and the DirectorGeneral of the All Progressives Congress (APC) Campaigns during the 2023 presidential poll that produced President Bola Tinubu. Lalong would represent PlateauSouth on the platform of the APC. Lalong, a former Speaker of the Plateau State House of Assembly, had tendered his resignation to President Tinubu earlier on Tuesday. Speaking soon after his inauguration, Lalong said he actually wanted to be a senator after he served his tenure out as governor in May, 2023. “This was my first choice, to be candid”, he stated. According to him, he opted to hold the position of a minister in the interim and on the invitation of Tinubu because he had a case he was pursuing at the court. Lalong, promised to do his best to serve his electorate to his human abilities. Also reacting to the inauguration, the National Chairman of the APC, Alhaji Abdullahi Ganduje, described it as a moment of happiness. “This is a moment of happiness. We are so happy that he won at the Court of Appeal.
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NEWS
Briefing on presidential intervention in public transportation...
L-R: Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga; Minister of Information and National Orientation, Mohammed Idris; Minister of Solid Minerals, Mr. Dele Alake; and Minister of Transportation, Alhaji Saidu Alkali, briefing State House correspondents on presidential intervention on public transportation to celebrate yuletide season, held at the Presidential Villa in Abuja... yesterday
NCDMB: We've Invested $300m to Support Local Businesses Blessing Ibunge in Port Harcourt
The Nigerian Content Development and Monitoring Board (NCDMB) has disclosed that it has disbursed over $300 million to support local businesses in the country. This was the board also stated that
it has achieved over 260,000metric tonnes of fabrication in-country, and was already exporting fabrication capacity to other parts of Africa. Speaking with THISDAY at the Nigerian Content Capacity Building Workshop for Media Stakeholders held in Port Harcourt, the Acting
General Manager, Research, Statistics and Development, Omomehin Ajimijaye, revealed that the NCDMB set aside $500 million to support local content including research and development. He said research and development was a cornerstone of the NCDMB's
operations, assuring that the Board would facilitate the acceptance of products researched and developed in-country that meet industry standards, as part of efforts to develop and enhance local capacity. Ajimijaye, said the board had achieved about 54 per cent local
NNPC, UTM Offshore, Delta Sign Shareholders’ Agreement on 2.72mtpa Floating LNG Kyari: Nigeria will deploy gas to revolutionise power, industrial sectors Oborevwori assures project will help mitigate environmental pollution FG to unveil facility for gas leak detection device
Emmanuel Addeh in Abuja
The Nigerian National Petroleum Company Limited (NNPC), UTM Offshore, an indigenous company, and the Delta state government have signed a Shareholders Agreement (SHA) on the development of the first Floating Liquefied Natural Gas (FLNG) facility in Nigeria. Speaking at the event in Abuja, the Group Chief Executive Officer of the NNPC, Mr. Mele Kyari, said that the company will utilise Nigeria’s abundant gas resources to revolutionise the nation’s power and industrial sectors. “In the next two to three years, we will use gas to bring about a revolution in our country. The outcomes will be clear on the table; there will be prosperity, and value will be created. “Not just creating gas for export but progressing on all our initiatives of bringing gas into the domestic market. Our backbone infrastructure are almost ready to ensure we achieve that. “Once that happens, we will see the immediate impact on the power sector, gas-based industries and several other collateral value that this will create,” the GCEO stated, according to a statement by the Chief Corporate Communications Officer of the NNPC, Olufemi Soneye. Describing the FLNG project as a task that must be done, Kyari said Nigeria remains a gas country whose abundant gas resources have been under-utilised. According to him, the new focus is to monetise such gas resources for the benefit of the country and
the world. Kyari added that the FLNG project fits into the federal government’s gas aspirations under the “Decade of Gas” initiative and in line with President Bola Tinubu’s agenda to create a gas hub so that value can be maximised and Nigeria can achieve prosperity. Reiterating NNPC’s commitment towards the project, Kyari said the FLNG was the first of its kind that the company was taking keen interest and holding an equity in. “More than this, there are several Floating LNGs that we are promoting, including fixed LNG projects. We are happy to collaborate with the Delta state government. We will take practical steps to get it done. We are committed to delivering this project in time, on schedule and in the best possible cost,” the GCEO added. Earlier in his remarks, the Group Managing Director of UTM Offshore Limited, Mr. Julius Rone described the SHA execution as another significant milestone in actualising Nigeria’s first indigenous FLNG. He thanked the president for his dedication towards developing the nation’s gas resources, as exemplified in the recently held COP28 Conference in Dubai, UAE. At the event , the statement noted that the president made a commitment for the complete flare-down and use of Nigeria’s gas resources as a transition fuel to achieve the global transition to cleaner energy fuels and reduce methane emission in oil and gas operations. Rone also lauded the GCEO of NNPC for his leadership and com-
mitment in ensuring that Nigeria's gas resources are developed within the provisions of the Petroleum Industry act (PIA) 2021. Also speaking, the Governor of Delta State, Sheriff Oborevwori said that the state government, which has 40 per cent of Nigeria’s proven gas reserves, decided to take 8 per cent equity because of its conviction of the strategic importance of the project to the national economy. Apart from producing over 300,000 metric tonnes of LPG which will be dedicated to the domestic market, the governor said the FLNG project will also help to mitigate the environmental hazards in the Niger Delta by reducing gas flaring.
In addition , he noted that it will create ample employment opportunities and ensure the switch from kerosene and firewood to cleaner energy, thus improving the health and general wellbeing of the people. He assured Nigerians, particularly the people of Delta of adequate supply of cooking gas to the domestic market after completion of the FLNG. In attendance to witness the execution of the SHA was the Minister of State for Petroleum Resources (Gas) Ekperikpe Ekpo, who said the FLNG will ensure the monetisation of Nigeria’s gas resources to drive the economy and attain energy security.
content value in the few years of existence, expressing belief that it would hit over 70 per cent in the nearest future. "To support local content, for instance we have about $500 million. Out of that, with our partners we have already disbursed more than $300 million to support local business people and investors. "Out of this $500 million, $50million is specifically for Research and Development. We recently graduated 17 high potential businesses. We took them through the system, we are in partnership with Founders Institute. "The potential for support for the industry is in excess of $500 million. For research and development in particular, we have $50 million in that space and all of it has not been taken. “So, anyone who wants to play in that space is free to come onboard, go through the process and take advantage of this money. "We at NCDMB give them that assurance that if you are able to do your research, and develop your products, that will help the industry, we will push your products to be used in the industry and given right of first refusal." Speaking on recent achievement by the board, Ajimijaye said, "We have invested millions of naira in Ama Technologies to build a factory for gas lick dictator device in Abuja, which we are going to commission this week. I told you about sole power, the Bio-remediation product and several other products like that. "In the space of local content development, we have 54 per
cent local content value right now from almost nothing in the past. When you look at the proportion of contracts and businesses in the sector, you talk about fabrication, engineering, procurement, manufacturing and others," he added. Earlier, the NCDMB General Manager, Corporate Communications and Zonal Coordination, Mr. Esueme Dan-Kikile, mentioned that the Board’s new leadership and the new Executive Secretary, with lots of experience could achieve the Nigerian Content 10-year plan. He emphasised the media’s importance for development and urged them to use their power to scrutinise Nigerian Content. He said, "Part of the Nigerian Content 10-year plan is to ensure that there are key fabrication centres in Nigeria and we have surpassed that target. “Our plans was to be able to meet over a hundred metric tonnes of fabrication in-country, but as we speak we have over 260,000metric tonnes of fabrication in-country. "So, we have exceeded the plans we had in place. As we speak there is excess capacity in fabrication. Some of our companies in Nigeria are now working outside the country, particularly in Senegal and other West African countries. "In terms of human capacity, we have Nigerians who have the ability to sit in leadership positions in the entire oil and gas industry value chain, and that is already happening. “We are not looking at 100 percent now because we still need activities that will be done outside in terms of investors’ interest."
My Mission is to Ensure Safety of Travellers, Says New NSIB Boss
Sunday Aborisade in Abuja
The new Director General of the Nigerian Safety Investigation Bureau (NSIB), Mr. Alex Badeh, yesterday promised to ensure safety of all passengers travelling by air, on water and land in Nigeria He pledged to immediately start engaging all stakeholders in the air, water, rail and land transportation sector with a view to fashioning out an enduring means of ending needless loss of lives and property due to accidents. Badeh, who commended his predecessor, Mr. Akin Olateru, who he said had contributed enormously to improving transport safety in the country, stated this in a copy of his speech released to staff of the
agency when he assumed office in Abuja. "Your service has laid the foundation upon which we can all build, and I pledge to carry the torch of safety to greater heights," he said. The director general pledged to align his vision for the agency with that of the visionary directives and foresight of the Minister of Aviation and Aerospace, Mr. Festus Keyamo (SAN). He said Keyamo had charted a clear course through his five-point agenda for the ministry, under which the NSIB is domiciled. The new NSIB boss expressed his happiness to be part of the team navigating the course of implementing the first point of the agenda, which focuses on ensuring
strict compliance with safety regulations and continuously enhancing Nigeria's rating by the International Civil Aviation Organization (ICAO). Badeh said: "As I have seen the scars of tragedy, felt the sting of loss, and understand the ripple effect of a single accident. " It is this understanding that fuels my passion, drives my resolve, and compels me to dedicate every ounce of my being to ensuring that no journey ends in sorrow and no life is lost in vain. "I see a future where Nigerian skies are the safest in Africa, our trains glide seamlessly across the land, our waterways are traversed with confidence, and every journey, by any mode, is undertaken with the utmost assurance of safety.
"My vision for the NSIB is to be an agency defined not by the tragedies we investigate, but by the transformative advancements in transport safety that we inspire. We will not simply react to accidents; we will proactively prevent them from occurring.” He also promised to harness the power of data, technology, and human ingenuity to build a future where every journey is undertaken with peace of mind and every mile traversed with the assurance of a safe return. "As the director general, my foremost duty is to act as an extension of the minister's mission by prioritising the adoption of international safety standards across all modes of transport.
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NEWS
2023 NGX Made of Africa Awards...
L-R: Managing Director/CEO, Central Securities Clearing System (CSCS) Plc, Haruna Jalo-Waziri; Chief Executive Officer, VFD Group Plc., Nonso Okpala; Chief Executive Officer, Nigerian Exchange Limited (NGX), Temi Popoola; Executive Director, Capital Markets, NGX, Jude Chiemeka; Chief Executive Officer, CardinalStone Securities Limited, Elile Olutimayin; Debt Management Office (DMO), Nigeria, Chima Edomobi, Chief Finance Officer, MTN Nigeria, Modupe Kadri; Managing Director, Pilot Securities Limited, Oluseyi Osunkeye; and Group Managing Director, Cordros Capital Limited, Wale Agbeyangi, during the 2023 NGX Made of Africa Awards at the Exchange in Lagos.... yesterday
Nigeria's Public Debt Grows by 0.61% in Three Months to N87.91 Trillion Eurobonds take 68.48% of FGN's $1.39bn external debt service Ndubuisi Francis in Abuja Nigeria's total public debt stock, including domestic and external debt obligations of the federal government, states, and Federal Capital Territory (FCT), rose to N87.91 trillion ($114.35 billion) at the end of the third quarter of the year (September), the Debt Management Office (DMO) revealed yesterday. The increase represented a mar-
ginal rise of 0.61 per cent compared to N87.38 trillion recorded at the end of June 2023, the agency said in a statement posted on its website. The debt management agency declared that while domestic debt increased by N1.8 trillion, the external debt component dropped from $43.16 billion to $41.59 billion at the end of the third quarter. The federal government accounted for N50.196 trillion
Modular Refineries in Edo Get 75,500 Barrels of Crude from Oza Oilfield
Adibe Emenyonu in Benin City
Operators of the Oza oil field, Decklar Resources Inc. and its partner, Millennium Oil & Gas Company Limited yesterday disclosed that they had delivered a total of 75,500 barrels of crude till date to two modular refineries in Edo State. The two refineries are the Edo Refinery and Petrochemical Company (ERPC) in Ologbo, Ikpoba Okha Local Government Area, and the Duport Midstream Company Limited (DMCL) facility in Egbokor, Orhionmwon Council in the state. The Chief Executive Officer of Decklar Resources, Sanmi Famuyide, who disclosed this in Benin City, said the deliveries were part of the contracts with the two companies for the supply of crude for refining. “Trucking of oil from the Oza oilfield has continued to the ERPC facility and the DMCL refinery, both located in Edo State, Nigeria. Delivery of a total of over 75,500 bbls have
been completed to date, with over 60,000 bbls delivered to ERPC and over 15,000 bbls delivered to DMCL,” it said. The ERPC is a 6000 barrel per day (bpd) facility that produces diesel, Low Pour Fuel Oil (LPFO), and naphtha for use within the country and export. The refinery was midwifed through the provision of an investment guarantee by the Governor Godwin Obaseki-led government in Edo State, which paved the way for the construction of the refining facility, opening up the petroleum refining sub-sector in the State. Though crude supply issues had caused lags in its early days, the contract with Decklar Resources and Millennium Oil and Gas Company has helped in addressing the issues. The DMCL, on the other hand, is located within the Duport Energy Park, which boasts of a modular refinery, a data centre, gas processing facility, and a power plant.
(N50, 196,102,866,842.30) of the total domestic debt stock during the reference period, while the 36 states of the federation and the FCT accounted for N5, 741 trillion (N5, 741, 042,103,518.56). It said, “The total public debt as at September 30, 2023, was N87.91 trillion or $114.35 billion. “The amount represents the Domestic and External Debts of the Federal Government of Nigeria, the 36 state governments, and the Federal Capital Territory. “At N87.91 trillion, the total public debt stock represents a marginal increase of 0.61 per cent when compared to the June 30, 2023 figure of N87.38 trillion. “This trend is explained by the decrease in external debt from USD43.16 Billion as at June 30, 2023, to $41.59 billion as at September 30, 2023, and a relatively moderate increase of N1.80 trillion in the
domestic debt." The DMO explained that external debt decreased due to redemption of a $500 million Eurobond and payment of $413.859 million as first principal repayment of the $3.4 billion loan obtained from the International Monetary Fund (IMF) in 2020 during Covid-19. “The servicing of these debts, in addition to other debts, are clear demonstrations of the FGN’s commitment to honouring its debt obligations,” it stated. Further analysis of the debt figures provided by the DMO showed that FGN's domestic debt service between July and September stood at N1.792 trillion. A breakdown showed that the sum of N268, 107,579,898.49 was expended to service domestic debts in July, N696, 523,269,106.22 in August, and N827, 844,770,300.42 in September.
Debt instruments accounting for the federal government’s total domestic debt stock of N50, 196,102,866,842.30 included FGN Bonds, N43,177,327,421,592.00; Nigerian Treasury Bills, N4,722,716,799,000.00; Nigerian Treasury Bonds, N25,988,000,000.00; FGN Savings Bond, N33,924,610,000.00; FGN Sukuk, N742,557,000,000.00; Green Bond, N15,000,000,000.00; and Promissory Notes, N1,478,589,036,250.26. Analysis of Nigeria’s external debt service payments showed that commercial loans (Eurobonds) accounted for 68.48 per cent of the external debt service cost for the period between July and September, totalling $1.39 trillion ($1,390,715,426.98). This was followed by multilateral debt service of 21.20 per cent; bilateral loans, 10.20 per cent; and Promissory Notes, 0.11 per cent.
Report: Lagos, Ogun Nigeria's Most Economically Viable States James Sowole in Abeokuta
Apart from Lagos, Nigeria's economic capital, Ogun State is Nigeria's most economically viable state, a report by Economic Confidential, a subsidiary of PR Nigeria, has shown. Pointing to Ogun State's status as Nigeria's topmost investment destination after Lagos, the report showed that the Dapo Abiodun-led Ogun State outperformed Rivers State, which joined Lagos and Ogun on the list of economically viable
states for the year 2022, along with Kaduna, Kwara, Oyo and Edo states. The report compiled from figures released by the Nigerian Bureau of Statistics (NBS) and the Federal Account Allocation Committee (FAAC) showed that while Lagos received the sum of N370.9 billion from the Federation Account and generated N651 billion as Internally Generated Revenue (IGR), Ogun on the other hand, received N113.4 billion from the Federation Account and generated N120.5 billion internally.
On the other hand, Rivers State received N363.4 billion from the Federation Account and generated N172 billion while Kaduna received N155 billion and generated N58 billion. Also, Kwara received N99 billion and generated N35.7 billion; Oyo received N181 billion and generated N62 billion, while Edo received N147 billion in federal allocation and generated N47.4 billion. The results were made known during the presentation of the 2022 Annual States Viability Index Report
NDE Set to Change Low Job Creation Narrative, Says DG
Onyebuchi Ezigbo in Abuja
As part of the efforts to achieve new job creation targets, the National Directorate Of Employment (NDE) has said it has started reviewing its schemes and programmes. NDE is one of the agencies the federal government statutorily assigned a critical role in the government’s business of job creation. While giving an update on the activities of the agency, Director General of NDE, Mallam Abubakar Fikpo, said the agency was making deliberate efforts to expand its job creation scope within the ambit of the Renewed Hope Agenda. "As part of the efforts, we
are reviewing our schemes and programmes. Serious attention is being giving to all our methods of operations. "We are fostering collaboration with other government agencies, private sector organisations, donor agencies and philanthropists. The reality is that government has a lot of responsibilities that involves utilisation of money, but unfortunately resources are very scarce. "This is therefore why we are very serious about collaborating with all and sundry henceforth to ensure the expansion of our schemes and programmes," he said. The director general said that NDE was committed to the provision of
Nigeria's external debt stock of $41,594.52 billion was made up of multilateral debt, $20,588 billion, or 49.5 per cent of the foreign stock. Nigeria owes IMF $2.824 billion and the World Bank Group $14,093.93 billion. This comprises the International Bank for Reconstruction and Development (IBRD), $488.19 million, and the International Development Association (IDA), $14,093.93 billion. Among others, it also owes other multilateral development institutions, like the African Development Bank (AfDB), $1,643.96 billion. China (Exim Bank of China) is Nigeria's biggest bilateral creditor, with a debt obligation of $4,810 billion of the total bilateral debt of $5.587 billion. Commercial loans (Eurobonds) outstanding debt stands at $15,118.35 billion, while syndicated loan obligations are $300 million.
innovative ideas to scale up its job employment creation models that will continue to complement the micro economic policies of the federal government. "NDE is poised to create more jobs, especially in the hinterland of the country through our various schemes such as School-on-Wheels (SOW) scheme. The scheme will be re-engineered and equipped to provide training facilities to communities where there are inadequate or non existing facilities for vocational skills training. "This is to provide equitable and inclusive opportunities for jobs and self reliance to Nigerians whether in urban, semi urban or rural com-
munities," he said. Fikpo said the focus and effort of every agency of the federal government right now, is towards the actualisation and success of President Bola Tinubu’s agenda for development. He also said that the Minister of State, Labour and Employment, Nkeiruka Onyejeocha, had given the agency a matching order to ensure creation of more jobs for Nigerian youths. Regarding the persisting unemployment crisis in Nigeria, Fikpo said the high rate of unemployment was a function of the geometric rise in population and ignorance of available opportunities for skills acquisition
and self employment by diverse unemployment groups in Nigeria. He added that the NDE had trained and empowered many graduates in tertiary institutions, school leavers and dropouts through different skills acquisition schemes and programmes. In addition, Fikpo said that NDE had assisted many with soft loans to kick-start businesses, noting that it was geared to do more in the year 2024. According to him, in the past, many of unemployed persons in the country were reluctant to key in and utilise the vast opportunities of skills acquisition programmes as alternative to the unavailable white collar jobs. However he said there had been a serious positive change.
in Abuja, showing that the total IGR of N1.5 trillion from the seven most viable states in 2022, was almost twice the total IGR of 29 states together that merely generated about N650 billion. Six states, however, including Bayelsa, Akwa Ibom, and Katsina states, failed to generate up to 10 per cent of the total allocations received from the federal government in 2022 and were declared insolvent states. The six states that may not survive without the Federation Account due to their extremely poor internal revenue generation of less than 10 per cent compared to their federal allocations are: Bayelsa, Katsina and Akwa Ibom. However, Bayelsa was bottom of the list with N273 billion federal allocation and only N15.9 billion IGR, representing 5.81 per cent of the allocations. Kebbi state with N119 billion FAAC allocation and N9 billion IGR (7.67 per cent) joined Katsina (N165 billion FAAC allocation and N13bn IGR, (7.90 per cent) on the list of economically unviable states. It came along with Akwa Ibom, which received N360 billion and generated N34.8 billion (9.66 per cent); Taraba, which received N103 billion and generated N10.2 billion (9.91 per cent); and Yobe, which received N105 billion and generated N10.4bn (9.91 per cent).
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Tinubu Demands Progress Report on Dubai Negotiations Gives power minister today's deadline to submit document
Emmanuel Addeh in Abuja
President Bola Tinubu has written the Minister of Power, Mr Adebayo Adelabu, to submit a progress report on the agreements related to the electricity sector, signed during the recently concluded United Nations Climate Conference (COP 28) in Dubai, United Arab Emirates (UAE). In a letter seen by THISDAY yesterday, the president gave the power minister a two-week period within which to prepare and submit the document. The deadline expires today (Thursday), counting from the
December 7 date when the minister acknowledged receipt of the official communication. Aside other deals, President Bola Tinubu and the German Chancellor, Olaf Scholz had presided over the signing of the acceleration of the Presidential Power Initiative (PPI) agreement between Nigeria and Germany on the sidelines of the event. The deal was designed to ultimately add 12,000mw of electricity to the national power grid, according to Adelabu. Marked PRES/89-1/001 and signed by the Principal Secretary to the President, Hakeem Muri-OkunoIa,
the president demanded the specifics of such potential projects during the feedback. He noted that he would also require information on project timelines and milestones as well as likely challenges to their execution. “I write on the instructions of His Excellency, President Bola Ahmed Tinubu, to request that you kindly provide a written report on the advances made by your ministry in furtherance of the positive discussions, negotiations and meetings held during the course of Mr. President's visit to Dubai, UAE to attend the 28th Session of Conference of Parties to
the United Nations Framework on Climate Change (COP28). “Your report should kindly provide specific details of potential projects, and agreements-in-principle, discussed in line with Mr. President's drive for foreign direct investment under the banner of his Renewed Hope Agenda, and should include: Details of the most advanced projects and discussions and the identity of the counterparties. “(It should also include) projected timelines and project milestones; and details of any obstacles which may have been encountered thus far,” the letter stated.
Lamido: Tinubu Didn’t Broker Peace in Rivers, He Enhanced APC’s Fortunes
Bola Tinubu did not broker peace in Rivers State, but actually used his office to enhance the fortunes of his party, All Progressives Congress (APC). In a statement yesterday, Lamido accused the National Working Committee (NWC) of Peoples Democratic Party (PDP) of docility. He said it
was inconceivable that the party allowed its arch-rival, Tinubu, to intervene in the dispute between the Rivers State governor, Siminalayi Fubara, and his predecessor, Minister of the Federal Capital Territory (FCT), Nyesom Wike. But the embattled lawmakers of the Rivers State House of Assembly
announced they had commenced the process of withdrawing their impeachment motion against Fubara. However, a group in the US, National Democratic Coalition (NADECO), advised the people of Rivers State to stand united against the influence of Tinubu, Wike, and APC.
At the same time, Ijaw Youth Council (IYC) Worldwide said it was already losing faith in the Tinubu administration over his recent intervention in the feud between Fubara and Wike. Lamido, in the statement, said it was highpoint of irresponsibility for the PDP leadership to allow its
For Smoother Yuletide, FG Approves Free Transportation for Commuters Development, Mr. Dele Alake, disclosed the measures while briefing newsmen at State House, Abuja. Alake said President Bola Tinubu had approved a 50 per cent rebate in inter-state land transportation fare across 28 luxurious bus routes nationwide from December 21, 2023 to January 4, 2024. According to him, the president also okayed zero fare for train commuters along Lagos-Ibadan, Abuja-Kaduna, and Warri-Itakpe corridors within the period. He said all the logistics required for the implementation of the programme had been worked out between the Minister of Transportation and the transport unions and luxurious bus owners. The minister stated, "In the spirit of Christmas and the end of year festivities, President Bola Tinubu, in another demonstration of his love for Nigerians, has approved that the federal government should intervene to bring down the cost of public transportation to allow our compatriots who want to travel to visit their loved ones and hometowns to do so without stress and the extra burden imposed by the high cost of transport around this period. "The president is well aware of the recent increase in cost of inter-state transportation and even for air travel.
Traditionally, our people love to travel during Christmas and end of year to be with families and friends and this has been the practice for ages. "We also know that globally, intracountry travels and movement of people, goods and services always peak around Christmas and end of the year because of socio-gravitational pull of the period which transporters always cash on to increase fares astronomically. "In recognition of the economic situation of the country, which he is working very hard to turn around, President Tinubu wants Nigerians to be able to travel within Nigeria to wherever they want to go to meet their loved ones without the extra-burden of paying exorbitantly for inter-state public transportation. "It is in this wise that the federal government is announcing, beginning from tomorrow, a special discounted holiday season fare on road transport and zero-fare by rail across Nigeria. "What this means is that from tomorrow, Nigerians willing to travel can board public transport via minibuses, luxury buses at 50% discount of current cost and all our train services on the routes the trains currently serve at zero cost to and fro on their travels this holiday season. "This special presidential intervention will commence tomorrow
The 28 Road Transport Routes The 28 luxury bus daily routes, effective December 21, 2023, include Lagos-Kano, Lagos-Abuja, Lagos-Kaduna-Zaria, Lagos-Jos, Lagos-Enugu, Lagos-Onitsha, Lagos-Owerri, Lagos-Aba, Lagos-Abakaliki, Lagos-Nsukka, Lagos-Uyo, Lagos-Port Harcourt, Onitsha-Kano, and Onitsha-Lagos. Others are Onitsha-Jos, Onitsha-Abuja, Onitsha-Sokoto, Onitsha-Gombe, Onitsha-Zakibiam, Port Harcourt-Owerri-Aba-Kano, Aba-Owerri-Abuja, Aba-Lagos, Abuja-Sokoto, Abuja-Lagos, Abuja-Onitsha-Owerri-Port Harcourt, Abuja-Enugu/Abakaliki, Abuja-Gombe, and Abuja-Kano. Thursday, December 21. It will end on January 4, 2024.” Alake explained, "The federal government through the Ministry of Transportation will be working with transporters, road transport unions, Nigerian Railway Corporation to seamlessly deliver on this special presidential initiative. "From tomorrow, Nigerians wishing to embark on inter-state travel to any part of the country from Abuja, Lagos, Kano, Kaduna, Enugu, Port Harcourt, Owerri, Ibadan, Akure, Maiduguri, Sokoto and other major inter-state transportation hubs will be able to do so at half the cost. "The federal government under the leadership of President Tinubu is working very hard to make sure Nigerians have a memorable and happy holiday season." Alake further announced that
necessary security arrangements had been put in place to ensure that the transportation arrangement worked according to schedule. According to him, "The president has already directed the police, Department of State Services, the military, and other security agencies to work collaboratively to ensure the holiday period is safe without any security breach in any part of the country. "While we wish all Nigerians a great holiday season, we implore everyone to be law abiding, be security conscious, be our brother's keepers, extend every goodwill to our families, friends and neighbours. We should continue to work within our sphere of influence to make our country the very best we all desire her to be." Continues online
The letter further stated that the president had further directed that such progress reports should be provided periodically, on a monthly basis. “I, therefore, look forward to receipt of your first status report within 14 days of the date of this letter for the consideration and further directives of Mr. President. Kindly accept the assurances of my warm regards,” it added. At the event which took place from November 30 to December 12, Managing Director of FGN Power, the special purpose vehicle for the project, Mr. Kenny Anuwe and Ms.
opponent to settle a political difference between PDP members. He stated, "Pray, do we still have the National Working Committee of the PDP? Or better still, do we have a party called PDP? "If we have one of the two, how come their total absence in the saga playing out in the PDP family in Rivers? Is the docility of the leadership of the PDP so comatose to the extent that President Tinubu of APC, our sworn rival and opponent, is now the grand patriarch of PDP?" The former Minister of Foreign Affairs added, "It is inconceivable that a political party will simply sit back and allow its fortunes taken over by a rapacious scavenger, the APC. “What President Tinubu did in the so-called peace meeting is not brokering peace in Rivers State, but using his office to enhance the fortunes of his political party. "There are many areas yearning for peace in the country, where President Tinubu's political expertise, sagacity and wisdom is needed. What skills has he applied to stop the killings of citizens in Nigeria, which is his primary responsibility, which he has conveniently looked away? "Unwittingly, the so-called peace accord in Rivers only planted the mines, which will definitely explode in the not-too-distant future, with collateral consequences on the entire country. Asari Mujaheed Tokubo and Chief Edwin Clark have alluded to this last week." Lamido said the PDP National Executive Committee (NEC) "should feel sufficiently embarrassed if not slighted, by the action taken by President Tinubu to reward a political mercenary with PDP fortunes in Rivers State.
President Bola Tinubu Nadja Haakansson, Siemens Energy’s Senior Vice President and Managing Director for Africa signed for both parties.
"More to the eternal shame of PDP NWC that a tribal voice of Ijaws through Chief Edwin Clark press conference has to be deployed to challenge the illegality and unconstitutionality of the peace accord. "Like Chief Clark said in the press conference, if Tinubu, as the then governor of Lagos, could stand up and fight President Obasanjo’s awesome power and personality and endure to overcome, can't PDP do likewise? “The PDP must take off from where Chief Clark started to fight this illegality through our justice system and all other legal means possible! "If the national executive of the PDP does not have the nerve to stand up and protect its own, it should honourably step down to allow for the election of competent hands.” Lamido also spoke to the Rivers State governor. He stated, "To Governor Fubara of Rivers State, the document you signed was under an environment not friendly to real conflict resolution and it was presided by the force of fear, intimidation and blackmail. Therefore, shred the document and toss it into trash can. "Governor Fubara may wish to know that President Tinubu, who chaired the meeting, was running with the deer and hunting with hound!"
Lawmakers Begin to Withdraw Motion against Fubara
The embattled lawmakers of the Rivers State House of Assembly commenced the process of withdrawing Continued on page 35
Senate Screens S’Court Justice Nominees Abiru, Tsammani, Adumein, Sankey, Uwa, Nwosu-Iheme, Ogbuinya, Adah, Tukur, Umar, Idris The senate screening, yesterday, was the final round of the confirmation process, after a more thorough screening had been done by the National Judicial Council (NJC) and the Federal Judicial Service Commission (FJSC). In addition to those, the justices had equally undergone various security screenings, including by the Department of State Security, the police and all relevant authorities. President of the Senate, Godswill Akpabio, had earlier at plenary, read President Bola Tinubu's letter, seeking confirmation of the 11 justices to the Supreme Court. The 11 Justices were recommended by the NJC for Tinubu’s approval to fill the vacant positions at the Supreme Court,following deaths and resignations of some justices. Nevertheless, the president has the exclusive powers to approve the appointment of the candidates subject to Senate’s confirmation. Meanwhile, the senate leadership, has appealed to the National Judicial Council (NJC) to avoid fire brigade approach in the appointment of Supreme Court Justices, going forward. Leader of the Senate, Opeyemi Bamidele, stated this shortly before the session dissolved into closed session. He faulted a situation,where vacancies in the apex court were not filled as at when due. He said, "I have this to say, first, to the appointing authorities. The last time we experienced this kind of thing was three years ago when I was chairman of the Senate committee
Justice Habeeb Abiru (S'West)
Justice Tsammani (N'East)
Justice Stephen Adah(N'Central)
Justice Moore Adumein (S'South)
on Judiciary, Human Rights and Legal matters and we had to take dates of My Lord Justices together just like we are having today and today, it is 11 of you. "My appeal on behalf of all of us to the appointing authorities is the need to avoid this kind of situation. These positions did not just become vacant in one day. "I recall with a sense of patriotic pain how long this committee had to wait even some days, after the list had been sent by the National Judicial council and the Senate had to wait for close to nine months for the names to be forwarded for whatever reason, either they waited
Justice Jummai Sankey (N'Central)
Justice Jamilu Tukur (N'West)
for one person or the other to make their list. “Today, 11 people. My hope and prayer is that in the Supreme Court already, we don't have a class of 8. I pray that is not happening but please let us not have a class of 11. "As these vacancies occur, it is important that those who are next in line be screened and appointed immediately. "To the federal government, generally, I will also want to say that what is happening here today also has its financial implications and the budget of the Federal Republic of Nigeria should speak to it. "Appointment of judges comes
Justice Chidiebere Uwa (S'East)
Justice Abubakar Umar (N'West)
with certain fiscal responsibility. They must have offices, they must have accommodation, they must be able to do their work with the basic paraphernalia of office including their vehicles. "Let it not be that after this exercise, the NJC would now be saddled with the responsibility of having to run from pillar to post to ensure that My Lords are able to settle down and of course to the entire public who also are interested in what is going on today. "What we are doing in the Senate through this committee is a final round of the confirmation process. Screening has been done thoroughly
Justice Chioma Nwosu-Iheme (S'East)
Justice Mohammed Idris (N'Central)
by the Federal Judicial Service Commission (FJSC). So, between FJSC and NJC, a lot has been done. "We are not here to begin to look into the circumstances of birth of any of the nominees. The manner of judgement they delivered in the past. We are not saddled with that responsibility. "Let no one be surprised that these names were read today on the floor of the Senate and were referred to the committee and tomorrow this committee is expected to submit its report back to plenary. "It is because we know that major screening has been done, including security screening by the department
Justice Obande Ogbuinya (S'East) of security service, by the police and all relevant Authority. "This is the only committee where every member is a professional, every member of this committee is a lawyer," he emphasised. In his opening remarks, Chairman of the Senate Committee on Judiciary, Human Rights and Legal Matters, Tahir Monguno, said the legislature had a responsibility to, “jealously guard the independence of the judiciary,” by insulating it against abuses. He cited insufficient funding as one major problem of the judiciary, which he said the Senate was addressing in the 2024 budget. Monguno added that the National Assembly was ready to work closely with the judiciary to bring about needed reforms in the country’s body of laws. “We are going to collaborate to bring about necessary reforms in our laws; to bring them in tandem with the realities of today. “We want the Supreme Court to have its full complement, so that their work would be unhindered,” Monguno stated.
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NEWS
Inaugurating the newly built Ikeja Overpass of the Lagos Rail Mass Transit...
L-R: Director, Rail, LAMATA, Mr. Olasunkanmi Okusaga; Special Adviser to Governor Sanwo-Olu on Transportation, Hon. Sola Giwa; Managing Director, LAMATA, Engr. (Mrs.) Abimbola Akinajo; Lagos State Governor, Mr. Babajide Sanwo-Olu; his Kwara State counterpart and Chairman of Nigeria Governors’ Forum, Alhaji AbdulRahman AbdulRazaq; and Speaker, Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, during the commissioning of the newly built Ikeja overpass of the Lagos Rail Mass Transit (LRMT) Red Line project, at the junction of the Lagos-Abeokuta Expressway and Obafemi Awolowo Way in Ikeja, Lagos... on Tuesday
Alleged Multi-million Dollar Fraud: US SEC Files Charges against Nigerian Billionaire, Dozy Mmobuosi Seeks repatriation of ill-gotten gains
Alex Enumah in Abuja, Wale Igbintade and Kayode Tokede The United States Securities and Exchange Commission (SEC) has filed charges against a Nigerian businessman, Dozy Mmobuosi for alleged multi-million dollar fraud. Mmobuosi who is the CEO of Tingo Group, was charged alongside his affiliated companies, Tingo Group Inc., Agri-Fintech Holdings Inc., and Tingo International Holdings Inc. The charges were based on alleged multi-year scheme, allegedly spearheaded by Mmobuosi, to inflate financial performance metrics and fabricate documents for Tingo Group and its subsidiaries, Tingo Mobile and Tingo Foods Plc. The Nigerian businessman appeared to be closing in on a takeover of the Premier League football club Sheffield before the recent charge filed against him. The SEC’s complaint, filed on December 18, 2023, by Antonia M. Apps outlines a series of allegations against Mmobuosi, accusing him
of orchestrating a scheme since at least 2019 to deceive investors worldwide. The complaint stated that Mmobuosi fabricated financial statements and misled investors through press releases, SEC filings, and public statements. Notably, Tingo Group’s 2022 Form 10-K, filed in March 2023, reported a substantial cash balance in its Nigerian subsidiary’s bank accounts, while in reality, those accounts allegedly held less than $50 at the end of fiscal year 2022. Furthermore, the SEC claims that Mmobuosi and the entities under his control fraudulently obtained hundreds of millions through these deceptive practices. Allegedly, Mmobuosi diverted funds for personal gain, including luxury purchases, private jet travel, and an unsuccessful attempt to acquire an English Football Club Premier League team. The SEC’s charges include violations of anti-fraud provisions, reporting, books and records, and internal controls violations.
Mmobuosi faces additional charges of lying to auditors, insider trading, and failure to disclose the sale of millions of Agri-Fintech common stock. The SEC seeks injunctive relief, disgorgement of ill-gotten gains, civil penalties, and the return of bonuses and profits obtained by Mmobuosi. As part of the SEC’s emergency application, temporary and preliminary relief is sought, including a restraining order freezing Mmobuosi’s assets and prohibiting money or property transfers. The SEC also aims to prevent the destruction of records, enjoin the sale of stock holdings, and order a repatriation of proceeds with a sworn accounting. Dozy Mmobuosi, along with Tingo Group, Agri-Fintech, and Tingo International Holdings, now face charges that range from insider trading to lying to auditors and internal controls violations. The Plaintiff is seeking the following reliefs "An Order temporarily and preliminarily, and a Final Judgment permanently, restraining and enjoining Mmobuosi and his agents,
servants, employees and attorneys and all persons in active concert or participation with any of them from violating, directly or indirectly, Securities Act 17(a) Exchange Act Sections 10(b) 13(a), 13(6)(2)(A) and 13(b)(2) and Exchange Act Rules 10b-5, 12b 20, 13a 1, 13a 11, and 13a 13 [17 CER. §§ 240.10b 5, 240.12b 20, 240.13a 1, 240.13a 11, 240.13a 13). "An Order temporarily and preliminarily, and a Final Judgment permanently, restraining and enjoining Agri Fintech and its agents, servants, employees and attorneys and all persons in active concert or participation with any of them from violating, directly or indirectly, Securities Act 17(a) [15 U.S.C. § 77q(a)], Exchange Act Sections 10(b) 13(a), 13(6)(2)(A) and 13(b)(2) and Exchange Act Rules 10b-5, 12b 20, 13a 1, 13a 11, and 13a 13 [17 CER. 240.10b 5, 240.12b 20, 240.13a 1, 240.13a 11, 240.13a 13). "An Order temporarily and preliminarily, and a Final Judgment permanently, restraining and enjoining Tingo Group and
its agents, servants, employees and attorneys and all persons in active concert or participation with any of them from violating, directly or indirectly, Securities Act Section 17{a) [15 U.S.C. § 77q(a)], Exchange Act Sections 10(b) 13(a), 13(6)(2)(A) and 13(6)(2)(B) [15 U.S.C. 78)), 78m(@), 78m(b)(2)(A B)] and Exchange Act Rules 10b-5, 12b 20, 13a-1, 13a-11, and 13a 13 [17 C.F.R. S240.10b 5, 240.12b 20, 240.13a 1, 240.13a 11, 240.13a 13]. "An Order temporarily and preliminary, and a Final Judgment permanently, restraining and enjoining TIH and its agents, servants, employees and attorneys and all persons in active concert or participation with any of them from violating, directly or indirectly, Securities Act 17(a) [15 U.S.C., Exchange Act Sections 10 [15 U.S.C. § 78)(b)] and Rale 10b 5 thereunder [17 C.F.R. § 240.10b-5]. "An Order temporarily and preliminarily freezing the assets of Mmobuosi subject to the motion for a temporary restraining order and
Institution of Marriage Faces Extinction, Former Envoy Raises Alarm Michael Olugbode in Abuja The institution of marriage is on its way to extinction while infantilism and criminal propensities are fast being accepted as the new normal, former Nigerian Ambassador to Mozambique, Albert Omotayo has lamented. The former envoy, who in a bid to strengthen family ties in Nigeria and ensure nation building presented a book titled: “Fifty Reasons Why I Love You” to the public, decried that the rate of separation and divorce in the country is soaring, insisting that this could only be checked with true love and strong marriage institution. Speaking at the presentation of the book in Abuja on Tuesday, Omotayo who was a Private Secretary to former President Olusegun Obasanjo when he was the Federal Commissioner for Works in the 1970s and later as the Head of State said the battle against marriage and the family is fierce and sustained, yet soft and elusive. Ambassador Omotayo who also inaugurated Qoodrat Adebola Abeni Omotayo Literary Award (QAAOLA) in honour of his wife said: “The rate of separation and divorce is soaring everywhere. The socio-intellectual movements which articulate marriage to be bondage
that must be broken are gaining more ground and their disciples are fast growing. “The world is getting drowned deeper in the sea of consumerism and instant creation, the root of world-wide economic hardship and inter-personal intolerance which is in turn pushing our humanness to a dangerous limit and making ordinary relationships increasingly more difficult to maintain.” The former envoy also lamented that values in all walks of life are being turned upside-down in a counter-cultural protest against “old culture and tradition.” The retired diplomat said he wrote the book not only to promote good family value system in Nigeria, but to also appreciate his wife whom he noted staunchly believes in marriage institution and transparently lives it. On why he inaugurated a nonprofit organisation for his wife who is also an author, and who turned 50 on Tuesday, Omotayo said “The NGO is a literary award because the crusade is not about laws, it is about the reorientation of human mind which can be challenged and moved to change only through writings in all manners of genre” In his remarks, a former Minister of State for Foreign Affairs, Ambassador Zubairu Dada commended
Omotayo for coming up with a book that touches on love at the family level and advised Nigerians to read the book which he noted is capable of strengthening family ties and creating a better society. Omotayo’s wife, Abeni, who is a former Chairperson of Ekiti State
Chapter of Nigeria Association of Women Journalists (NAWOJ), said she would continue to impact on lives and not relent in her efforts at promoting literary arts. She commended her husband for being a pillar of support. A former National President of
Association of Nigerian Authors, Denja Abdullahi, Chairman of the occasion, Professor Vicky Sylvester, the book reviewer, Miss Salamatu Sule, all commended Ambassador Omotayo for writing the book, and also described his wife as a virtuous woman.
preliminary injunction, including but not limited to assets held at brokerage and bank accounts both known and unknown, whether in Mmobuosi’s name or the name of entities he controls. "An Order requiring Mmobuosi’s repatriation of amounts equal to his ill-gotten gains derived from the fraudulent scheme, as alleged in this Complaint. VII. An Order temporarily and preliminarily enjoining Tingo Group, Agri-Fintech and TIH from directly or indirectly transferring money or property or issuing new shares of stock to Mmobuosi, his agents, servants, employees, attorneys-in fact, entities he controls, and all persons in active concert of participation with him, VUI. An Order temporarily and preliminarily enjoining Defendants from selling their respective holdings of Tingo Group and/or Agri Fintech stock; 1».6 An Order requiring Defendants to submit 2 verified accounting of their assets; x. "An Order temporarily, and preliminarily, and through a Final Judgment, enjoining Defendants and their agents, servants, employees and attorneys and all persons and entities acting at their direction or on their behalf from destroying, concealing, or otherwise interfering with access to relevant documents, books and records; "A Final Judgment ordering Defendants to disgorge all ill-gotten gains they received directly or indirectly, with pre judgment interest thereon, as a result of the alleged violation."
FG to Boost Consumer Credit to Deepen Financial Inclusion, Others James Emejo in Abuja The Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, has said the federal government is currently working to develop the needed framework to enhance consumer credit in the country. Speaking at the inaugural meeting of the Technical Working Group (TWG) for consumer finance, under the Presidential Council on Industrial Revitalisation, she said an efficient consumer credit system remained a hallmark of successful economies. She said this often works to improve market efficiencies and fill in gaps in consumption and productivity by providing consumers immediate access to credit allowing them to purchase ahead of ability.
Anite pointed out that the absence of a well-structured consumer credit system had been a significant impediment to financial inclusion and economic prosperity. She said establishment of the working group was timely and strategic as the initiative seeks to propose and implement a viable institutional and regulatory framework that could significantly improve the consumer credit landscape. In a statement issued by her media unit, the minister noted that though the country currently has numerous financial institutions and credit schemes, many Nigerians still face substantial hurdles in accessing credit. She noted that this was due to stringent eligibility criteria, high interest rates, identity-related challenges, fragmented data sources for
proof of livelihood and financial worth, lack of awareness or understanding of credit processes, and inadequate credit available for lending. The membership of the TWG include the Central Bank of Nigeria (CBN) Federal Inland Revenue Service (FIRS) National Identity Management Commission (NIMC), and National Insurance Commission (NAICOM). Others are: The National Institute of Credit Administration (NICA), Federal Competition and Consumer Protection Commission (FCCPC), Bank of Industry (BoI) among others. The committee agreed on a five-month timeline to achieve its objectives - to increase consumer credit uptake in the country, enable a sustainable credit system in line
with global best practices. It will also enhance the supporting infrastructure , including technology, data, financial institutions, global partners, to boost credit operations and equip players in the industry. In delivering on the objectives, the committee has adopted a holistic consultative approach that draws on the experience, knowledge, and expertise of the credit ecosystem to understand the issues within the industry and define workable solutions to address them. Uzoka-Anite is the vice chair of the Presidential Council for Industrial Revitalisation, which is chaired by the Minister of Finance and Coordinating Economy, Mr Olawale Edun and the Minister for Communications, Innovation and Digital Economy, Dr 'Bosun Tijani.
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T H I S D AY • THURSday DECEMBER 21, 2023
politics
Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com (08033025611 SMS ONLY)
Ubani: Africans Must Be Ready to Hold Leaders Accountable
Executive Director of Fix Politics, Anthony Ubani, in this interview with Kuni Tyessi, stresses need to chart a way forward for African development with citizens holding the leaders accountable for whatever decisions taken.
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hat should be the participants’ major take-aways from the recent African Conference, and how do you think it will bring about what I will call jurisprudence in the politics of the participants? This is the inaugural edition of African Conference and it is going to be a yearly conference. It is going to be a flagship programme of the School of Politics, Policy and Governance. Looking in there, you will see that we have been able to assemble different prominent persons who have made their mark in the field of governance, democracy and leadership in Africa. Here, we try to assemble the kind of leaders SPPG trains in the school. SPPG is committed to building a new generation of leaders who will lead with values, lead with character, competence and capacity. These are the kind of leaders we brought from Zimbabwe, Kenya, Cameroon and all over Africa. Quite a number of take-aways have come out of this conference and I can just talk to you about a few of them. For us to achieve the goal of liberating Africa, getting it to come to the point of economic development, political stability and functional democracy, three factors will have to drive these goals. The first is the youth of Africa. The second is the women of Africa and the third is technology. These are the three factors you need to drive this movement. This movement will also be driven on the framework of the triangular pillars of democracy, which is a theory that came up from the research #FixPolitics conducted. To put it very simply for our readers out there, the triangular pillars of democracy in the context we speak means that the demand side, which is the citizens, the electorate of Africa, must step up their game, by being better informed, better empowered, better educated and better enlightened. Educated about what? Educated about the significance of politics, to understand that politics trumps everything; that politics affects them from the day they are born to the day they die. It affects everything they are going to do, including who they marry and what they buy. Politics affects the lives of their country and the continent of Africa. Therefore, it is important for them to understand why they should pay attention to this. Second, Africans should also understand the importance of holding their leaders accountable. The second leg of the triangular pillars of democracy speaks to the supply side, which is the leadership side; those in electoral office, those in appointive office, in the country and in the continent. It is imperative that we begin to build a new generation of leaders, who will lead against the background of corruption, impunity and incompetence that we have; a new generation of leaders that will be value-driven, who will listen to citizens of Africa, as well as focus on transformational leadership to develop our economy and give us a stable politics. On the third tripod, we are looking at reforming our economy, politics, electoral laws and constitution. It is important that the regulatory side of the polity is taken care of; yes you may have very educated, active, engaged citizens participating in the democratic and political process. Yes, you may have leaders, who are value-based, but if you do not have strong regulatory institutions that are able to do their job, that are able to keep everyone on the straight and narrow, then the system will not work. How does SPPG intend to drive students’ admission growth? What we are doing today is part of the strategy to drive admission into the SPPG.
ger, climate problems and so many things.
Ubani The SPPG is known by the work it does. I will start by telling you something. I am sure, as a journalist, you went to journalism school, did a bit of advertisement and marketing and was taught in that school that a good product sells itself, but you have to make a lot of noise for a bad product. The impact of SPPG sells SPPG. You have heard our chairperson, our Chief Executive Officer and other speakers talk about the impact of SPPG. Talk about what some of our graduands, our alumni, are already doing. How many of them participated in the last election? How many are already doing wonderful things in different parts of Africa? The works of SPPG sells SPPG. You have seen even some of our leaders. The convener of SPPG said he is a graduate of SPPG. Conferences like the one we are having is
also an avenue to sell SPPG. So, if you put together all of the brilliant works SPPG is doing in Africa, it is not difficult to sell. We have just finished a programme on the big ideas; we are just doing the African Conference. We are having graduation tomorrow. We have just launched the SPPG in Senegal on October 10. We are doing so much, but we are not focused on selling the SPPG; we are focused on selling the vision and mission of the SPPG, which is to build a new generation of value-based leaders, who are disruptive in their thinking and who are focused on serving the needs of citizens of Africa. Africa has faced serious democratic challenges.You know what is happening in Togo, in Niger, across Africa. Was the issue on the instability in Africa part of what dominated discourse in the conference? It was part of the conference, but it is not what dominated the conference. As you rightly just pointed out, Africa is riddled with many problems. There is corruption, political instability, impunity, poverty, hun-
How does SPPG intend to drive this narrative to the back seat? Good! The point is, when you look at the conglomeration of these problems we have just listed, they all come down to one thing; politics, which trumps everything. If #FixPolitics and SPPG operate from the position that once you address the broken politics in Africa, you find that you have been able to address the question of hunger, poverty, under-development and other challenges. The coup d’états and all the problems you mentioned are as a result of the broken politics in Africa. When people try to have a good country, when they cannot feed, when the politicians cannot function the way they are supposed to function, what happens? Then you have restiveness and the idea of coup d’états. It is almost impossible to have a coup d’état in a system that is functional, where the leadership is providing good leadership and development, citizens are active, regulatory institutions are working, there is justice, equity and inclusiveness. In such an environment, the military has no reason to intervene through coup d’état. When you listen to each and every of these coups, the first thing they tell you is that there is corruption, political instability, poverty and hunger. They say the leaders can no longer lead and therefore they are coming as an interventionist force. That tells you that if you fix the broken politics in the country, the economy and social system will fall in place. There will be good governance because broken politics affects good governance. What is going to be the projection of #FixPolitics in the next 10 years? In the the next 10 years, our expectation is that we must have got to a point of reaching critical mass, in terms of the number of SPPG graduates that we have put out there. If you listened to the chairperson, yesterday, she talked about the numbers we graduated for the first, second year and third years, which are in the realm of hundreds. She made a very important point; that we should be looking at putting out not less than 10,000 in a year to make impact. Our expectation is that, very shortly, we should be able to put out such numbers every year, going forward. That means, if we are able to put out about 1,000, 2,000 up to 10,000 a year, it means that in 10 years, we will be looking in excess of hundreds of thousands of students across Africa. Then what do you think they will be doing? They will be running for elective office; some of them in appointive office, some in the civil service of their different countries to work. These are the people that will begin the process of change because change is what we need in Africa.
Africans should also understand the importance of kind of change? holding their leaders accountable. The second leg of What Development change, political change, the triangular pillars of democracy speaks to the supply socio-economic change and mindset change. from what? side, which is the leadership side; those in electoral Change Change from incompetence to compefrom corruption to good character/ office, those in appointive office, in the country and in tence, morality, from lack of capacity to capacity the continent. It is imperative that we begin to build and from poor governance to good governance. These are people, who understand a new generation of leaders, who will lead against the how public policy is made, people who the importance of listening background of corruption, impunity and incompetence understand to citizens and doing the wish of citizens ensure equitable, inclusive, just and that we have; a new generation of leaders that will be to functional society. That is what we look forward to in 10 value-driven, who will listen to citizens of Africa, as years; that Africa, as you see it today, would well as focus on transformational leadership to develop have taken 10 steps forward in 10 years time due to the work and impact of #FixPolitics our economy and give us a stable politics. and SPPG.
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T H I S D AY • Thursday, december 21, 2023
FEatures
Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, Tel: 07010510430
A Centenary of Melodious Rendition
People from all walks of life recently witnessed the Choir Festival /Thanksgiving Service held at the Wesley Cathedral Olowogbowo, Lagos, and served as the grand finale of activities marking the Centenary Celebration of Wesley Cathedral Choir. The epoch-making event was a clear testimony to how thus far God has helped them. Writes MARY NNAH
L-R: Presbyter & Administrator of the Wesley Cathedral Olowogbowo, Lagos, Very Rev. Adesola L-R: CEO, CHOPIN & Choir Patron, Mr. Lanre Delano; Methodist Archbishop of Lagos, Most Revd. Kuyebi; Choir President, Sir Bola Cole and retired AIG of Police and Choir Patron, Sir Charles Ayo Olawuyi; Choir Grand Patron, Sir Olusegun George; and Choir Patron, Engr. Kofi Sagoe Akande Famous-Cole
Honorary Choir Patrons (L-R) Mr. Steve Faderin, Chief Engr. Adebwale and Chief Yomi Salami with Choir President, Sir, Bola Cole, (3rd from left)
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esley Cathedral Olowogbowo, Lagos recently celebrated 100 years of its choir festival with the theme, “Enter into His Gates with Thanksgiving”. For guests, who were made up of dignitaries from all walks of life, it was a successful event which in every sense of the word was a collated outcome of countless unspoken struggles by a determined fraction of people willing to make a difference. A centenary for any church or indeed any organisation, connotes consistency, dedication, faith and hope for a brighter future. So the occasion indeed called for the jamboree witnessed on this day as the members of the choir praised and worshipped God like they had never done. It was so obvious that everyone loves to be a part of a successful event and the success recorded in the execution of the various events lined up as part of the activities making the Centenary Celebration of Wesley Cathedral Choir, Olowogbowo was a clear testimony of how thus far God has helped them. ‘It is indeed gratifying to be part of this epoch-making event and I am truly appreciative of the opportunity to be part of the success story of the choir of excellence of our great Cathedral”, said the Choirmaster /Organist, Kehinde Aina. Grand Patron and Chairman, Choir Centenary Planning Committee, Sir Olusegun George reminded that “not many people or many churches have seen 100 years old. “This cathedral is about 150 years
L-R: Reverend of Methodist Church Nigeria, Bola Oyeledun; Choir Grand Patron, Sir Olusegun George and Choir President, Bola Cole
old but we started celebrating in 1923 and this year makes it 100 years. We decided that we were going to celebrate a year-long, so we started with the Easter Cantata and then we followed up with the Choir Concert at the Muson Centre, Lagos in August and then we celebrated a few weeks ago, the life and times of the patrons, matrons, choir masters and choirs that have passed on. And today is the grand finale and today we are celebrating what the choir has been doing all these years, especially the current choir members”, he said. To make the occasion more memorable, some people were honoured as patrons and matrons, while some young girls and boys were inducted into the choir. George who was also inducted as the Grand Choir Patron during the occasion explained that as a grand patron, his responsibility will include ensuring that the choir keeps functioning at all times and also keeps to the rules and regulations of their calling, as some of them are very young and may not take the choir practices seriously and finally to see to the welfare of the choir. The occasion also saw a few persons who had been in the choir in the past but for one reason or the other pull out, rededicating themselves. Speaking on the significance of the choir to the church, George said, “You can see that the choir stand is always close to the altar where the ministers usually stay, so the choir is an extension of the ministers.” George who is now 81 years old, revealed that he has been in the choir since age 10, while jocularly adding, “It is said in the Bible that we will all sing when
we get to heaven, so right now, it appears only the choirs will go to heaven, except you join the choir so that you too will sing because we are all expected to sing when we get to heaven.” Bola Oyeledun, Reverend of Methodist Church Nigeria and a long-time member of Wesley Cathedral Olowogbowo, born and raised in the church, said, “My father who is now dead, lived a long life. He was 94 when he died in 2018. If he were alive, he would have been 99 years old today. That means he was born when the first choir festival was held. So it means that he has been working and celebrating for that long and I think it is an achievement. I have been a part of the history and celebrations. I have seen so many choir masters who have come and gone. I think it is something to be celebrated.” Speaking on the essence of the celebration, the Lay President of the Archdiocese of Lagos. Methodist Church Nigeria, Sir Gbolahan Olayomi, said, “A centenary is more than a lifetime and when you have done something well for 100 years, it is worthy of celebrating.” He said further, “A hundred years for us means management of a group of people coming together to praise God. Generations up generations - let me say at this point, four generations, have been praising God at Wesley Cathedral Olowogbowo for a hundred years. So, it is a very happy moment for us as a people that we are alive to
witness what our great grandfathers began and that the tradition of excellence, the beauty of praising God and serving God in hymns, thanksgiving songs and praise - that essence, which is the first calling of man to praise God has not been lost in us as a people. And that from generation to generation, we have kept on growing this tradition and this calling and that is why we are very excited to be celebrating 100 years of the foremost cathedral in Methodist Church Nigeria.” Olayomi who reiterated that choir is central as it speaks to praise, added, “The essence of the choir begins when first of all we look at the scripture, we find that the angels in heaven tend to spend all their time, day and night, in praising God, especially in the book of Revelations. But for us as earthly people, we see the full essence of the choir and choristers being brought together by David when he was the king of Israel he brought together sounds and he made sure that there was a group of people assigned with instruments to praise God and that is where the essence of a formal choir began.” “And for us in the orthodoxy of our service and our worship, the choir is central to the essence of our services, worship and praise. And so from infancy, you begin to find us training our children to praise God by being members of the choir and so it becomes ingrained in them to praise God from when they are young and from that stage, they grow up to when they become elders in the choir. For example in the choir today you find kids as young as ten who are members just as you find members who are over 80 still praising God. And that is the essence of the choir to us as a church.
T H I S D AY THURSDAY DECEMBER 21, 2023 20 TR
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& RE A S O
Thursday December 21, 2023 Vol 27. No 10478
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opinion@thisdaylive.com
www.thisdaylive.com
OYEBANJI: CELEBRATING A CHANGE AGENT
YINKA OYEBODE pays tribute to Biodun Oyebanji, Ekiti Staté governor at 56
See page 21
SUSTAINING NIGERIA’S DIGITAL UPSURGE Muhammad Abubakar is living up to the task, contends KAREEM MUFTAU
See page 21 EDITORIAL
REVAMPING PRIMARY EDUCATION
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Nigeria must pursue increase in oil and gas production while also investing in clean energy as stipulated in its Energy Transition Plan, argues GODSWILL IHETU
COP28: CONTINUING THE FOSSIL FUEL CONVERSATION
The Conference of Parties (COP) is an annual UN climate and nature summit, usually attended by heads of governments with the aim of arresting and controlling global warming and climate change. COP28 closed in Dubai, United Arab Emirates, on 12th December 2023, after two weeks of deliberations and negotiations. According to the UN Climate Change Executive Secretary, Simon Stiel, in a speech delivered at the closing of COP28, “we didn’t turn the page on the fossil fuel era, but the outcome is the beginning of the end” of the fossil fuel era. His conclusion highlights part of the final statement at COP28 which includes calls for accelerating efforts towards the phasedown of unabated coal power, phasing out inefficient fossil fuel subsidies, and other measures that drive the transition away from fossil fuels in energy systems, in a just, orderly and equitable manner. Oil-producing countries opposed the idea of “phasing down” fossil fuels production, fought very hard to remove the “phasing down” and “phasing out” language from an earlier draft statement. The Secretary of OPEC, Haitham Al Ghais, called on OPEC members and allies to proactively reject any language that targeted “fossil fuels” rather than “emissions.” “Phasing down” or “phasing out” of oil and gas is a major issue for Nigeria as oil and gas production contributes significantly to Nigeria’s foreign exchange earnings and revenues in general. Any “phasing down” or “phasing out” of oil and gas in the near to medium term will significantly affect Nigeria economic development. NNPC has often said that Nigeria will not be transiting away from hydrocarbons, meaning oil and gas in this case. Nigeria needs oil and gas revenues to be able to invest in the transition to clean and green energy. At COP28 the NNPC GCEO maintained the position that the African continent needs “a just, differentiated transition to enable it harness its resources for today, for the benefit of its future generations” in a continent where 75% of the population do not have access to electricity. Recognizing that coal is the single biggest contributor to climate change, COP26 in 2021 agreed to reduce or “phase down” the use of coal for power generation. There was no statement on phasing down or phasing out oil and gas. In addition, much to the delight of the oil and gas industry, there was no decision to halt new investments in the industry, in spite of pressure to do so from some shareholder and environmental activists prior to COP26. Most of the oil majors
said then that it would be a mistake to halt oil and gas investments. They insisted that fossil fuels, especially oil and gas, will remain the main source of global energy mix for decades to come, seeing that fossil fuels currently contributes about 80% to global primary energy consumption. COP27 was held in Sharm el-Sheikh, Egypt last year. It was tagged the “African COP” because of a number of Africa related agenda issues debated. There were two main takeaways that were issues of major concern for Africa and Nigeria, namely, the decision to set up a climate loss and damage fund and the resolution “phasing down” rather than “phasing out” the burning of fossil fuels. On the latter, some delegates accused Egypt, which was host and president of COP27, of producing a text that “protects oil and gas petro-states and the fossil fuel industries,” Egypt being one of them. African countries vigorously argued that they must be allowed to continue producing their gas assets. African leaders emphasized the need for funds to exploit African extensive gas reserves to generate electricity in a continent where about 600 million people have no access to electricity. African delegates argued that the continent emissions is less than 4% of global emissions and see no reason why they should pay for the acts of commission by developed countries which have used fossil fuels to industrialize their economies over a period of two centuries, and therefore should bear heavier responsibility for achieving the global target of limiting temperature increase. They argue that natural gas can strategically be used to maximize Africa’s well being and for a “Just and Affordable Energy Transition,” and insisted that energy sources have to be accessible, available and reliable, and natural gas ticks all these boxes. They insist that for resource poor countries of Africa, poverty reduction, energy security and economic development have priority over de-
carbonization.” In summary, African countries were opposed to phasing down fossil fuels especially as more and more oil and gas reserves are being discovered in many African countries. The lobby against fossil fuels was so strong at COP 27 that when Sultan Al Jaber, CEO of the Abu Dhabi National Oil Company (ADNOC), was designated the President of the just concluded COP28 in Dubai, his appointment faced much opposition. Many climate change activists felt that it was wrong to appoint someone who is deeply steeped in the oil and gas industry, the very industry that is largely responsible for dangerous emissions that damage the environment. In response he said “the world needs all the solutions it can get. It is oil and gas and solar, and wind and nuclear, and hydrogen, plus the clean energies yet to be discovered, commercialized and deployed.” Now fast forward to the COP28 debate on fossil fuels. Of note is the fact that China, the US and India are the top three largest emitters of greenhouse gases, and are responsible for about 42% globally. The irony in all of this is that while some of the wealthy countries are promoting the phase down of fossil fuels, following the Russian invasion of Ukraine, some countries in Europe have reactivated coal mines that had been closed for years. The US and UK have also awarded new oil and gas exploration licenses this year, while the US remains the largest oil and gas producer in the world. There is a lot of mixed messaging here. Nigeria must pursue increase in oil and gas production while also investing in clean energy as stipulated in its Energy Transition Plan, in order not to be left behind in the global quest for cleaner energy sources. It is certain that the role of oil and gas will decline in the long term while renewables will increase. Oil and gas currently contribute 80% of the world’s energy mix, the question remains how quickly the world will be able to ramp up renewable energy sources to levels that would reduce the contribution of fossil fuels significantly. At COP 28 members were encouraged to treble investments in renewables. For Africa and Nigeria, in order to comply, funding remains an issue and pledges by rich countries since 2009 remain largely unmet. The pledges made at COP28 towards the new loss and damage fund for financial assistance to less developed countries were disappointing. Dr Ihetu is a former Group Executive Director, NNPC and former CEO, Nigeria LNG
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THURSDAY DECEMBER 21, 2023
YINKA OYEBODE pays tribute to Biodun Oyebanji, Ekiti Staté governor at 56
Muhammad Abubakar is living up to the task, contends KAREEM MUFTAU
OYEBANJI: CELEBRATING A CHANGE AGENT
SUSTAINING NIGERIA’S DIGITAL UPSURGE
Last week, December 12th to be precise, AdoEkiti, the capital of Ekiti State witnessed an unusual development. Pensioners in the state under the auspices of the Nigeria Union of Pensioners (NUP) organised a special prayer session for Governor Biodun Oyebanji and his administration. The sole purpose of the one- day intercessory programme by the senior citizens was to prayerfully support the Governor and his administration. On that day, the pensioners, in their hundreds, thronged the Jibowu Hall, venue of the programme and devoted the entire time praying for the Governor, who on invitation, attended the programme accompanied by his deputy, Chief (Mrs) Monisade Afuye and some members of the state executive council. The message being passed by the pensioners was loud and clear. What they were simply saying was that they might not have silver nor gold to give the Governor for his demonstrated commitment to their welfare and wellbeing, through prompt payment of pensions and consistency in defraying outstanding gratuities as well as other policies and programmes that have directly impacted their lives. But what they have- prayers- they would freely offer to God on his behalf. Elder Joel Akinola, the state Chairman of NUP, said the pensioners had never organised such an intercessory programme for any sitting Governor of the state. He said they were moved to do it because of the Governor’s has prioritised their welfare in such an unprecedented manner. If the pensioners premised their support for Governor Oyebanji on the new lease of life he has injected into their union through prompt fulfilment of government obligations to them, the three former governors of the state that publicly endorsed Governor Oyebanji some six weeks earlier, hinged their decision on BAO’s performance and exemplary leadership style, which has united various tendencies within the state with concomitant peace, stability and massive development in the state. Former Governors Adeniyi Adebayo, Kayode Fayemi and Ayodele Fayose as well as the Senate Leader, Senator Opeyemi Bamidele, gave what is aptly an endorsement that is unprecedented, during the thanksgiving service commemorating Oyebanji administration’s first anniversary on October 22nd. Former Governor Fayose spoke on behalf of the trio, drawing a thunderous applause from the congregation. Former Governor Segun Oni, who was not present during the thanksgiving service made up for his absence some weeks later when he joined the Governor for a Sunday service at the Government House chapel. How BAO is able to garner the support and cooperation of all his predecessors in office as well as all candidates of other political parties that contested the June 2022 election with him, remains a classical lesson in political maturity and demonstrated leadership capacity. Those who have followed Oyebanji’s trajectory right from his student’s days, through the period of pro- democracy movement, the period of agitation for the creation of Ekiti State as well as his foray into public service, would readily admit that his unique approach to governance does not come as a surprise. BAO, as he is fondly called, is guided by the social democratic principle of lifting the weak and supporting the vulnerable in the society as well as the biblical injunction of love your neighbour as yourself. His genuine concerns include how to give a voice to the voiceless; how transformational leadership can replace transactional politics; how to build strong institutions instead of strong men; how to make government wear a human face; how every citizen can feel the impact of government regardless of their social standing; and what mechanism
should be put in place for genuine and effective empowerment of the citizens, especially the less privileged, towards the attainment of the good life for all. Governor Oyebanji is disarmingly unassuming. Those who have come in contact with him, and, indeed a vast majority of Ekiti people, believe his simplicity has brought a new level of zest to governance and redefined performance with emphasis on excellent service delivery, measureable impact, prudent management of resources, zero distraction, minimal noise and maximum benefit to the people, in line with the shared prosperity agenda of his administration. As a change agent, BAO believes it is not enough for a leader to lead the people. He believes a leader must live in the hearts of the people by serving them diligently and sincerely. He believes trust is a public good without which no great thing can be achieved collectively. Hence, he believes trust has to be earned. As a leader, he combines integrity, creativity, character, competence, compassion with passion for excellence and development. Many people have tried to explain the uniqueness of BAO’s exemplary leadership style. Some believe it is the “homeboy factor”, while many believe he got the necessary grooming having served two former governors in six different capacities before becoming governor. But while these assertions are correct, Klaus Schwab, Founder and Executive Chairman of World Economic Forum seems to have the right answer. According to him, “there are four ingredients in true leadership: brain, soul, heart and good nerves.” BAO, no doubt, possesses these four attributes, especially when one considers the outcomes of many of his developmental efforts. His decision to fix the power issues that had put several communities in about four councils in darkness for over 10 years by connecting them to the national grid almost at the same time the state’s Independent Power Project (IPP) was commissioned for use is a game changer that has brought a remarkable boost in the socioeconomic development of the state by people and helped to resuscitate some dying businesses. His huge investment in agriculture as a pathway to industrialisation has also attracted an army of youths into commercial agriculture just as his efforts at making Ekiti a digital hub is already yielding fruits, what with the recent $80 million support from the African Development Bank. His local content policy as well as the inclusion policy are daily redefining government –citizens relationship for the betterment of the state. Born on December 21, 1967, in Ikogosi-Ekiti, Oyebanji had his early education in his home state and in institutions such as Baptist Primary School, Ikogosi-Ekiti; Awo Community High School, Awo-Ekiti; C.A.C. Grammar School, Efon-Alaaye; District Commercial Secondary School, AramokoEkiti; and Federal School of Arts and Science, Ondo. Oyebode, Special Adviser (Media) to the Governor, writes from Ado-Ekiti
Before he took over as Managing Director/ CEO of Galaxy Backbone Limited (GBB), he was the Accounting Officer and a Director and a Principal start-up for the establishment and development of the National Centre for Petroleum Research and Development (NCPRD) of the Energy Commission of Nigeria. At NCPRD, he was the spearhead of cross-cutting edge research that developed the conceptual exploration model deployed in the successful oil and gas exploration in the frontier basin of the Northeast Nigeria. He was also a Research Consultant to NNPC on oil and gas exploration. So, there were high expectations of what Gombe-born professor of petroleum geosciences would do with GBB in the context of a global economy driven by digitization and in which no country can afford to be left behind in either provision of related infrastructure, its application or investment in the sector. At its inception in 2006 as a public enterprise wholly owned by the Federal Government of Nigeria, the mandate of GBB was well defined and straightforward – setting up and operating a unified Information and Communications Technology (ICT) infrastructure platform that addresses the connectivity, transversal and other technology imperatives for Ministries, Departments and Agencies (MDAs) of the federal government. The company was also charged with operating a nationwide network backbone to help facilitate the digital inclusion of underserved areas and rural communities towards the realisation of the federal government goals as enumerated above. In doing this, the organisation takes the lead in the federal government effort to set its Digital Economy agenda – to leverage ICT to drive economic growth through creating jobs to enable Nigerians improve their standard of living. It has set up critical ICT infrastructure for services — connectivity, hosting and security — to businesses in private and public sectors. Abubakar attended Abubakar Tafawa Balewa University, Bauchi, where he obtained B. Tech in Applied Geology and M.Sc. and Ph.D. in Sedimentology/Petroleum Geology. He is also an alumnus of German Academic Exchange Service (DAAD) and is a recipient of several awards, among which is National University Commission’s best Ph.D. thesis award in physical sciences from all Nigerian universities in 2006. His first test was presented by outbreak of the Coronavirus pandemic that precipitated an economic lockdown of a global dimension. In Nigeria, it threatened the attainment of government objectives. There was an urgent need to develop digital platforms for keeping the economy up and running. As government activities leaned heavily on ICT during the lockdown in order to reduce physical interactions that could spread coronavirus, one of the value propositions of Galaxy Backbone was born of innovation in time of necessity. GBB rose up to the challenge of the time. With the support of the parent ministry, it launched virtual interaction platforms that enabled communication and collaboration in government from the federal executive level to intra-MDA functions. Connectivity was provided at the residences of key government functionaries, which provided seamless
government operations, meetings and decisions for the effective management of the pandemic. Before Professor Abubakar came on board, GBB was faced with a range of challenges. Its organisational structure was sub-optimal, leading to inefficiencies and challenges in decision-making processes. This was made optimal. Prof. Abubakar then introduced innovative approaches to the company’s procurement process that resulted in a phenomenal boost to bandwidth capacity of the organisation. This has increased its competitiveness as well as enhanced cost savings. One area in which GBB has made tremendous strides is the establishment of data centres in parts of the country worth highlighting. GBB lacked relevant across the nation infrastructure. To redress this, on 20 December, 2022, the National Shared Services Centre (NSSC) was formally opened in Abuja. The NSSC, which houses the nation’s TIER 3 Data storage facility, is meant to serve as a strategic and significantly important resource to stakeholder organisations in both the public and the private sectors.
On 30 January, 2023, the TIER 4 National Data Centre and Northwest Zonal and Marketing Office were opened as fully operational. The Kano Data Centre serves as a backup to the Abuja Data Centre. The Lagos Office was also upgraded to a Regional Zonal and Marketing Office. The Kano Data Centre is a major component of the phase 2 of the National Information Communications Infrastructure (NICTIB) Project which started in 2021. Through this project, Galaxy will connect all the 36 states of Nigeria into ICT infrastructure to power the nation’s digital economy. The forwardlooking objectives of this expansion include the need to grow GBB’s infrastructure and services in all locations by ensuring proximity to GBB Points of Infrastructure Presence and facilitating project delivery. It is also aimed at improving revenue generation by leveraging GBB infrastructure assets to harness untapped opportunities by sweating assets delivered in NICTIB projects across Nigeria, as well as provide technical support to locations where GBB services are being consumed to ensure customer satisfaction and reduce service outages. Dr. Muftau writes from Abuja
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T H I S D AY
THURSDAY DECEMBER 21, 2023
EDITORIAL
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
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REVAMPING PRIMARY EDUCATION Government must do more than its patchy attention to education
several studies and reports speak volumes about he deplorable state of education in the abject neglect of infrastructure in schools. And Nigeria can be glimpsed from the failure to worsen matters, it does not appear as if the of many of the teachers whenever they relevant authorities as well as critical stakeholders are made to undergo basic elementary are paying attention. In many rural communities, examinations. Yet, if those who are classrooms are an essential commodity with the expected to impart knowledge are result that children study under trees. In the urban themselves illiterate, how do we create the necessary centres that have the luxury of being provided with balance of skills and knowledge that would drive classrooms, many of them are dilapidated with national development? This trend is common in leaking roofs, cracked walls and without windows. many of the states across the country, especially In many cases, children seat on the floor as there are with teachers in primary and secondary schools. no reading tables and chairs for them. While the challenge goes beyond the quality of Given such an unfriendly and harsh school teachers, what is not in doubt is that there is need to environment it is only natural that children would revamp the education sector in Nigeria. The policy resist going to school even as other social and thrusts for such action can be found in the outcomes economic factors collude to restrain primary school of several summits enrolment nationwide, and their reports lying but particularly in around in many offices northern Nigeria. In some The learning environment, academic outcomes and the capacity of and agencies in both situations, children who, Abuja and at the various monitoring institutions are critical to revamping the education sector despite the unattractive state capitals. The conditions of their learning environment, schools, still wanted to academic outcomes learn are unable to do so and the capacity of because the government monitoring institutions is unable to provide them are critical to revamping T H I S D AY with teachers. Meanwhile, there is a consensus that the education sector. But it is also a problem that EDITOR SHAKA MOMODU the deplorable state of education in the country not many of our people want to take teaching as DEPUTY EDITOR WALE OLALEYE is traceable to the fact that politicians do not care MANAGING DIRECTOR ENIOLA BELLO a profession while the majority of those currently about fixing the sector because they can afford to DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU engaged are people who cannot find employment CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI ship their children overseas. in other (more lucrative) sectors. EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN Yet the provision of quality and affordable Receiving a children advocacy group, Save the THE OMBUDSMAN KAYODE KOMOLAFE education is one of the sacred duties of government Children, a former Zamfara Education Board since they provide the needed human capital Chairman, Hon. Adamu Jangebe once told his necessary for development. Without basic education, visitors that the state was in chronic shortage of the future of children is already mortgaged with primary school teachers. He lamented that as a the attendant danger of making them susceptible to T H I S D AY N E W S PA P E R S L I M I T E D result, not fewer than 300 public primary schools EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA anti-social vices. Indeed, ample evidence exists that in the state were manned by a single teacher each. GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, social miscreants and religious bigots, including the Many more schools in remote rural communities, ISRAEL IWEGBU, EMMANUEL EFENI insurgents that have marooned the North-east of he added, had no teacher at all leaving the children DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, the country and bandits that have taken base in the to their own devices with all the dire consequences ANTHONY OGEDENGBE Northwest, are largely recruited from the army of DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI for the future of our country. Unfortunately, the uneducated people who grew up without any hope SNR. ASSOCIATE DIRECTOR ERIC OJEH situation in the state has since worsened due to ASSOCIATE DIRECTOR PATRICK EIMIUHI for their future. We call on authorities at federal banditry. CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI and in the states to work towards addressing this More depressing is that the crisis of primary DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO problem. education is national. Across the country today, TO SEND EMAIL: first name.surname@thisdaylive.com
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LETTERS IS BETTING THREATENING NIGERIA'S FUTURE?
The tragic suicide of Onoh Chukwuma Richard, a young man who lost N2.5 million in bets, sends shivers down the spine. Sadly, this is not an isolated incident. The insidious grip of gambling addiction is claiming too many promising lives in Nigeria. As a youth myself, I have witnessed the alarming rise of betting among my peers. While I dabbled in sports betting, I quickly recognized its harmful potential and stopped. My only win, a meager N11,000, served as a reminder that the odds are heavily stacked against bettors. However, I only made smaller bets. Money that I knew I could lose. I'll be dumb to spend a large portion of my money on betting because I know how hard I work for it. While I exercised caution, many of my friends remain unrepentantly optimistic about winning big. They fail to see the illusory nature of their hopes. Yet, that has not stopped betting shops from springing up everywhere, their neon lights beckoning with the promise of quick riches. But beneath the veneer of excitement lies a dark reality. Betting is not a game, it's an addiction. It preys on hope, exploiting the desperation and vulnerability of individuals seeking a shortcut to financial freedom. The initial thrill of a win
quickly turns into a relentless quest for the next big score, a chase that often leads to financial ruin, emotional distress, and in the worst cases, even suicide. The story of Richard is not just his story; it represents the countless stories of young Nigerians battling this dangerous addiction. It's the heartbreaking story of Samuel Adegoke, a 200-level student of Electrical Electronic at the Federal Polytechnic, Ilaro, Ogun State who earlier this year, committed suicide after losing his school fees and those of his friend to online sports betting. It's also the story of the breadwinner who gambles away his family's savings, and the countless others who find solace in a losing game. Betting has become a social cancer, eating away at the fabric of our society. It breeds hopelessness and despair, fueling crime and social unrest. Countless hours spent in betting shops are not just lost hours; they are wasted opportunities, dreams left unrealized. We cannot afford to be silent bystanders. This is a societal issue that demands our collective attention and action. Parents must have open conversations with their children about the dangers of gambling. Our media, religious and educational institutions, all need to
contribute to this initiative. Our Schools should as a matter of urgency incorporate responsible gambling awareness programs into their curriculum. The government must play a crucial role in regulating this industry. Stricter regulations, age restrictions, and robust advertising controls are essential to limit the accessibility and allure of betting. But the true change must come from within ourselves. We must break the stigma surrounding mental health and addiction. We must encourage open dialogue, offer support and resources, and build a society where seeking help is not seen as a weakness but as a sign of strength. The lives lost to betting are not just numbers on a screen; they are our friends, our brothers, our children. Their stories serve as a stark warning call. We must act now, before it's too late. We must ensure that no more young lives are lost to the deadly grip of betting addiction. As we confront this epidemic, let us remember that the true jackpot lies in the well-being and prosperity of our people, and together, we can secure a future where every Nigerian can bet on a brighter tomorrow without risking it all today. Olufemi Peters, olufemipeters7@gmail.com
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T H I S D AY • Thursday, December 21, 2023
BUSINESSWORLD R A T E S MONEY MARKET
A S
A T
REPO
Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com
08056356325
D e c e m b er
S & P INDEX
2 0 , 2 0 2 3
S & P INDEX
EXCHANGE RATE
OPR
11.25%
CALL
19.12%
INDEX LEVEL
611.31%
1/4 to daTE
-0.07%
N795.28/ 1 US DOLLAR*
OVERNIGHT
11.50%
1-MONTH
16.25%
1-DAY
0.03%
YEAR TO DATE
0.48%
*AS AT Monday, July 24, 2023
3-MONTH
15.75%
MONTH-TO-DATE
-0.7%
MTN Gains More Subscribers as 35,154 Port from Other Networks in One Year
Emma Okonji Current statistics on Number Portability released by the Nigerian Communications Commission (NCC), has revealed that as much as 35,154 subscribers port their GSM lines from one network to another within a space of one year. The subscribers, which cut across MTN, Globacom, Airtel and 9mobile, had to port their lines from one network to another between August 2022 and August 2023, in search of better service quality. Among the subscribers that port their lines to other networks, MTN, which has the highest market share
of 38.58 per cent and a subscriber base of 85,005,917 as at August 2023, had the highest number of subscribers that ported from other networks to its network (inward porting), followed by Airtel, Globacom and 9mobile, which had the least number of subscribers that ported into their network in the last one year. Number porting is the switching of subscriber’s GSM number from its original network to another network, while retaining the same GSM number on the new network, in search of better service quality. When a network gains additional GSM numbers during porting, it is regarded as inward porting, but
when a network loses existing GSM numbers during porting, it is regarded as outward porting. According to the statistics, which THISDAY obtained from the official website of NCC, in August 2022, a total of 2,389 subscribers, port their GSM lines from one network to another, while in September 2022, a total of 2,934 subscribers also port their GSM lines to other networks. In October, November and December 2022, a total of 2,790; 2,299 and 2,8269 respectively, also port their GSM lines to other networks. In January 2023, 2,581 subscribers port their lines to
other networks, while a total of 2,021; 2,253 and 3,076 subscribers port their lines to other networks in the months of February, March and April 2023 respectively. In May 2023, a total of 2,992 subscribers port their lines to other networks, while a total of 2,321 port their lines to other networks in June 2023. Also in July 2023, a total of 4,077 subscribers port their lines to other networks, while a total of 2,592 subscribers port their GSM lines to other networks in August 2023 in search of better service quality, according to the current statistics released by the NCC. According to the statistics,
MTN is leading in the number of inward porting, which is the number of subscribers that port to its network in the last one year. The statistics showed that in August last year, a total of 1,617 subscribers, ported from other networks to MTN network, which was the highest in number porting that month. Also, in September, October, November and December 2022, the total number of subscribers that ported their lines to the MTN network, were 2,040; 1,935; 1,680 and 1,812 respectively, and the figures were the highest among the subscribers that port their lines in those months.
In January 2023, MTN had a total number of 1,688 subscribers that switched to its network, while in February a total of 1,522 subscribers also switched to the MTN network, the highest in number porting (inward porting) for those months, according to NCC’s statistics. In March, April and May 2023, MTN also had the highest number on inward porting, numbering 1,555; 2,096 and 2,138 respectively. Then in June, July and August 2023, MTN again had the highest number of inward porting, numbering 1,545; 3,410 and 1,682 respectively according to NCC’s statistics.
WRC-23 Revises ITU Radio Regulations to Support Spectrum Sharing, Technological Innovation Emma Okonji At the close of the World Radiocommunication Conference 2023 (WRC-23) last week Friday in Dubai, United Arab Emirates, member states of the International Telecommunication Union (ITU), agreed on revisions to the global treaty governing the use of the radio frequency spectrum, both on earth and in space. The agreement on updates to the Radio Regulations identified new spectrum resources to support technological innovation, deepen global connectivity, increase access to and equitable use of space-based
radio resources, and enhance safety at sea, in the air, and on land. ITU Secretary-General, Doreen Bogdan-Martin, who revealed this at the close of the conference, said: “WRC-23 puts the world on a solid path towards a more connected, sustainable, equitable and inclusive digital future for all, Key regulatory achievements on spectrum for space, science and terrestrial radio services build on the momentum of ITU’s ongoing work to achieve universal connectivity and sustainable digital transformation.” According to her, a total of 151 member states, signed the WRC-23
Final Acts. The final acts constitute a record of the decisions taken at the conference including both the new and revised provisions of the Radio Regulations, all appendices, and the new and revised Resolutions and ITU-R Recommendations incorporated by reference into the treaty by the conference. The Director of the ITU Radiocommunication Bureau, Mario Maniewicz, said: “The agreements reached at WRC-23 are a testament to the unwavering spirit of cooperation and compromise among all of our members. Navigating the complexities of
spectrum sharing to update the Radio Regulations has helped us forge a path that provides a stable, predictable regulatory environment essential for the development of innovative radiocommunication services for all.” Among the decisions, WRC-23 identified spectrum for International Mobile Telecommunications (IMT), which will be crucial for expanding broadband connectivity and developing IMT mobile services, also known as 4G, 5G and, in the future, 6G. The new spectrum includes the 3 300-3 400 megahertz (MHz), 3 600-3 800 MHz, 4 800-4 990 MHz and 6 425-7 125
MHz frequency bands in various countries and regions. WRC-23 also identified the 2 GHz and 2.6 GHz bands for using high-altitude platform stations as IMT base stations (HIBS) and established regulations for their operations. This technology offers a new platform to provide mobile broadband with minimal infrastructure using the same frequencies and devices as IMT mobile networks. HIBS can contribute to bridging the digital divide in remote and rural areas and maintain connectivity during disasters. For non-geostationary fixed-
satellite service Earth Stations in Motion (ESIMs), the conference identified new frequencies to deliver high-speed broadband onboard aircraft, vessels, trains, and vehicles. These satellite services are also critical following disasters where local communication infrastructure is damaged or destroyed. Provisions were included to protect ship and aircraft mobile service stations located in international airspace and waters from other stations within national territories. The story continues online on www.thisdaylive.com
M a r k e t d ata A s at w e d n e s d ay, D e c e m b e r 2 0 , 2 0 2 3 BONDS Description Price Yield Change Updated Time (%) ^13.53 23November 98.19 14.98 46,00 22, 2023 MAR-2025 November ^12.50 2295.52 14.91 28,00 22, 2023 JAN-2026 ^16.2884 November 10.3.85 14.78 0.00 22, 17-MAR-27 2023 ^13.98 23November 97.09 14.90 0.00 FEB-2028 22, 2023 ^14.55 26November 97.62 15.20 0.00 APR-2029 22, 2023
BILLS
OTC F X F U T U R E S
CPS
Maturity
Discount Yield
NTB 9-Nov23 NTB 7-Dec23 NTB 25-Jan24 NTB 8-Feb24
6.85
6.86
Change (%) Updated Time November 0.00 22, 2023
Maturity
7.15
7.20
November -0.01 22, 2023
7.96
7.83
November 0.01 22, 2023
7.85
8.02
November 0.00 22, 2023
NSDL CP IIA 22-NOV-23 MTNN CP V 23-NOV-23 NSDL CP IIB 23-NOV-23 VAAG CP XVII 24-NOV-23
NTB 7-Mar24
11.20
11.65
November 3.00 22, 2023
VAAG CP XVII 24-NOV-23
Change Time Discount Yield (%) November 22.87 23.17 -1,00 22, 2023 November 14.84 14.98 0,00 22, 2023 November 22.87 23.19 0,00 22, 2023 November 20.23 20.49 0,00 22, 2023 19.53
19.85
November 0,00 22, 2023
Contract Current Tenor Contract Rate ($/₦) (Month) NGUS NOV 1 – 27 2024 NGUS DEC 2 – 24 2024 NGUS JAN 3 – 29 2025 NGUS FEB 4 – 26 2025 NGUS MAR 5 – 26 2025
Date
November 22, 2023 November 22, 2023 November 22, 2023 November 22, 2023 November 22, 2023
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Thursday, December 21, 2023 • T H I S D AY
BUSINESSWORLD
News
ANNUAL CONFERENCE…
L-R: Founder, M2P Fintech, Madhusudanan Rangarajan; Group Managing Director, Africa, Network International, Dr. Reda Helal; Vice Chairman, CeBIH and Head, Digital Channels, First Bank, Folasade Femi-Lawal; Divisional Chief Executive Officer, Interswitch Purepay, Akeem Lawal; Chairman, CeBIH and Head, Cards Business, Zenith Bank Plc, Celestina Appeal; Country Manager, Mastercard, Ebehijie Momoh and Chief Digital Officer, Polaris Bank Limited, Dele Adeyinka, at the 2023 Annual Conference of the Committee of e-Business Industry Heads (CeBIH), held in Lagos… recently
‘Mastercard’s Contactless Solutions Will Enhance Digital Payment’ Stories By Emma Okonji Mastercard, a global technology company in the payments industry has launched its contactless payment solution, designed to transform Nigeria’s payment landscape. The company said the solution will empower businesses to accept
card payments easily and cost effectively, using ‘tap on phone’, ‘QR Pay by link’ and ‘Payment link’ on their smart phones. At a panel session that discussed the importance of contactless payment solutions, the panelists who are experts in the payment industry, were of the view that the Mastercard
contactless payment solution would drive low-cost solution that will boost SME’s adoption of digital payments in Nigeria, and also help in enabling SMEs to convert their mobile phones to POS terminals, while delivering seamless and convenient payments options to customers. According to the panelists, with
approximately 40 million small businesses in Nigeria, contactless payment options will make it easier for Small and Medium Enterprises (SMEs) to accept payments, thereby boosting growth. Traditional payment acceptance terminals can be too expensive for SMEs. Mastercard’s contactless options will dramatically reduce the cost
Dealers Commend Spectranet on Partners’ Reward Dealers across the nation have commended Spectranet, the Internet Service Provider (ISP) for rolling out the Spectranet Partner Reward programme to appreciate dealers for their excellent and commendable performances during the Spectranet Jara Dealer Promotions, and especially throughout the 2023 financial year. Speaking at the presentation of the awards, which was held at various locations within Abuja, Lagos and Ibadan, Spectranet’s Regional
Head of Sales, Raja Ramaswamy, commended the dealers for achieving the set goals within the stipulated time as well as upholding the brand’s value and essence to her customers across the nation. He went further to state that “the Dealer’s Reward Programme is part of our commitment to nurturing sustainable partnerships. It is also our way of saying thank you to our Dealers for being at the forefront of servicing our customers with utmost dedication and ensuring that customers remain
satisfied with the service offering of the brand.” Managing Director of Beeps, Abuja and a beneficiary of the Spectranet Jara Dealer Reward, Abah Ezekiella Ihotu, went home with the star prize of a power generating set. During the presentation, she expressed her gratitude and commended Spectranet for the gift. “This was almost unexpected but very welcome. This gift will go a long way to support our business for
more growth. Thank you,” Ihotu said. Speaking on behalf of the dealers, the Managing Director of PREPLAZE, Jovita Ezinne, who won a washing machine, said the Spectranet Jara Dealer promotion remained commendable, as it has brought out the best in everyone involved. “Our joint efforts in this way will continue to ensure that the Spectranet brand gets the right appreciation and market acceptance it deserves,” Ezinne said.
9mobile Launches ‘Choplife’ Promo to Reward Customers 9mobile has rolled out a massive reward promotion for its customers, tagged ‘Chop Life’ promo, designed to reward customers with millions in cash prizes ranging from N20,000 to N250,000 to per winner, including tons of non- cash prizes like generators, refrigerators, fuel vouchers, 50kg bags of rice, 25 litres vegetable oil, and free airtime. The promo is open to all new and existing 9mobile prepaid customers, while ustomers on other networks who wish to participate in the promo should simply activate a 9mobile SIM or port their existing lines to 9mobile.
Speaking on the rationale behind the promo, the Chief Executive Officer of 9mobile, Mr. Juergen Peschel, said the promo remained one of the company’s ways of supporting and giving back to Nigerians during the festive season. “The holiday season is a time for celebration, sharing, connection, and joy. At 9mobile, we are excited to bring our customers the ‘Chop Life’ promo, to enrich their festive experience and connect them to the magic of the season. This promo also demonstrates our philosophy
that customers are at the core of our business, so we continue to prioritise them in our decisions. We have made sure that everyone is covered; from new to existing customers, including customers who have not used their lines for some time. There is something exciting for everyone,” he said. Describing the modalities of the promo, 9mobile’s Director of Product Innovation and Business Development, Kenechukwu Okonkwo, said: “The ‘Chop Life’ promo would adopt a simple dial-in mechanism. “Customers can opt-in by dialling *577# or by
texting WIN to 577. Customers who are not on the 9mobile network should firstly activate a 9mobile SIM or port their existing line to 9mobile, then opt-in by dialling *577# or texting WIN to 577. A single or cumulative recharge of N200 or more in a day/in a week, qualifies customers for the daily and weekly draws. Every N200 recharge (single or cumulative) grants one guaranteed entry to the draw for the day and for the week of recharge. Every incremental N200 recharge grants customers more entries and therefore increased chances to win at the draws.”
Adamolekun, Olatunji Unveil Book on Social Responsibility
Raheem Akingbolu
Two scholarly authors, Dr. Wole Adamolekun and Prof. Rotimi Olatunji have collaboratively launched a transformational book, entitled “Social Responsibility and Sustainable Development”. The book was formally launched at
the Metropolitan Club Lagos, recently. The event, characterised by insightful discussions with the authors, provided attendees with a unique opportunity to delve into the inspiration behind their collaboration and the key themes explored in the masterpiece.
Adamolekun addressed the complex economic, social, and environmental expectations of stakeholders in the context of Corporate Social Responsibility (CSR) and sustainable development. Also speaking, co-author, Olatunji, called for a collective
commitment to social responsibility for the betterment of the economy. He challenged the notion that substantial financial resources are a prerequisite for social responsibility, asserting that organisations can integrate it into their expenditures, reducing tax burdens.
Aziz Honoured by Secure Identity Alliance in France
The immediate past Director General/Chief Executive Officer of the National Identity Management Commission (NIMC), Aliyu Abubakar Aziz, a seasoned Public Servant and Administrator, was recently recognised and presented with an award in
Paris, France, by the Secure Identity Alliance (SIA) Initiative as a founding member of the body and Pioneer Chairman of its Advisory Council. The Organisation observed that Aziz played the role well in ensuring universal interoperability
framework and standards were formulated for the identity industry with the highest level of international acceptance/ adoption by ICAO, and getting fair contractual/technology services implementation deals for the NIMC and other technology-
dependent agencies in Nigeria in both the Public and Private sectors. The positive outcome from that endeavour was the influencing of the European Economic Interest Groups under the SIA’s decisions on Nigeria and Africa as a whole.
of payment acceptance devices, making it financially feasible for SMEs to adopt the technology. Vice-President of Customer Solutions, East and West Africa at Mastercard, Kari Tukur, said: “As we navigate the evolving landscape of payments in Nigeria, Mastercard is proud to launch its contactless payment solutions. We understand the importance of seamless,
secure, and cost-effective digital payment solutions, particularly for small businesses and consumers. We are determined to support and accelerate the adoption of innovative payment methods, ultimately fostering financial inclusion and economic growth in Nigeria. We are committed to making a digitally inclusive future a reality for all.”
ipNX Earns Double Recognition at Nigeria Technology Awards ipNX, Nigeria’s unified connectivity solutions provider, has sustained an industry recognition of excellence by receiving double honors at the 9th edition of the Nigeria Technology Awards, which recently held in Victoria Island, Lagos. ipNX took home two awards in the coveted categories of “FiberOptic Internet Service Provider of the Year” and “Fastest FiberOptic Internet Service Provider of the Year”. Commenting on the award, Divisional Chief Executive Officer, ipNX Retail, Kene Eneh, said: “We are honoured by these recognitions, as they inspire us to create exponential possibilities for our clients and customers. As an organisation, we are passionate
about consistently demonstrating that Nigeria has inward capacity to engineer and deliver the highest quality of technology solutions”. She continued, “I dedicate these awards to all ipNX customers who inspire us to go further, faster, and to our esteemed late co-founder and Ex-Director, Dr. Burian Carew, who laid down the foundation for all we have been able to achieve till date and beyond.” The dedication of ipNX to its customers goes beyond providing unrivalled connectivity solutions, the company is actively involved in various empowerment initiatives aimed at bridging the digital divide and transforming Nigeria through the power of technology.
NIMN Sets Agenda for Growth, Forges Strategic Alliances Raheem Akingbolu The National Institute of Marketing of Nigeria (NIMN), has unveiled its strategic plans for 2024, emphasising membership growth, equality, learning and development, and forging strategic partnerships and affiliations with key organizations such as the Advertising Regulatory Council of Nigeria (ARCON) and CIM UK. Addressing journalists recently, President, and Chairman of Council at NIMN, Idorenyen Enang, highlighted the need for these initiatives to refocus the institute in the coming year. He said, “We are committed to fostering the growth of our members by concentrating on three solid tiers: corporate, individuals, and institutions. Our focus is built on the foundational elements established over the last two years, demonstrating the value our organization brings to professionals and businesses in the marketing
industry. We are determined to expand our membership base by creating an inclusive community that supports all.” He further explained, “Our inclusive strategy involves forming cross-sectoral alliances with clusters of passion and interest in marketing disciplines, such as hospitality, SMEs, arts, academia, sports, beauty, and more. We aim to attract marketing professionals across various sectors, provide support, and equip them for the challenges of building not only businesses but also contributing to the nation at large.” Enang announced that starting January 1, 2024, the institute will review its membership subscription fees for fellows, full members, associates, and corporate members. The revised fees will be N50,000 for fellows, N30,000 for full members, N20,000 for associates, and N750,000 for corporate members. This revision, the first in seven years, is aimed at sustaining valuable services to members.
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T H I S D AY • Thursday, December 21, 2023
BUSINESSWORLD
Development
Nigeria’s Commitment to Clean Energy Ugo Aliogo examines President Bola Tinubu’s pledge at the just concluded COP 28 in Dubai, United Arab Emirates, to introduce pioneering initiative that will deploy a fleet of 100 electric buses, as part of efforts to achieve clean energy in Nigeria
N
igeria is blessed with abundant renewable energy resources such as solar, wind, hydro and biomass that can be harnessed to scale up its energy supply and achieve universal energy access, energy security and the reduction of greenhouse gas emissions for climate change mitigation. Energy consumption in the country is expected to continue to surge due to increasing population and improvements in the socio-economic life of the people. The International Energy Agency, in a report published by the World Economic Forum (WEF), said over 140 million people had no access to energy in Nigeria, which is about 71 per cent of the country’s population. The report said the federal government has set a goal to achieve universal energy access by 2030 and is implementing various policies and initiatives to increase access to clean and affordable energy for its citizens. The report further quoted the Rural Electrification Agency, which said scaling rural electrification through distributed solar generation, mini-grids, and off-grid technology alternatives would have the potential to generate $9.2 billion in annual market investments for solar mini-grids, adding that this can also save Nigerian households and companies $4.4 billion annually, but that certain barriers persist in the broader adoption of solar generation. According to the report, “Nigeria is the largest consumer of oil-fired backup generators in Africa, with over 80 percent of power generation coming from gas reserves. Natural gas thus remains the primary source of power in future short-term plans, despite the shift to other renewable sources. The recent attractiveness of natural gas lies in the lowcarbon features that make it relatively ‘clean’ and
less expensive in comparison to oil and coal. “Using natural gas as a transitionary fuel with a viable pathway to greener future solutions has potential to foster some $18.3 billion in gross value added to the local economy. This potential, coupled with the global difficulties the gas sector is facing, can create exponential growth in the nation’s domestic value chain. In addition to exporting natural gas to the global market, supporting domestic markets through investments in gas production
and local distribution infrastructure is critical to achieving Nigeria’s energy transition goals.”
FG’s Commitment
At the just concluded Climate Change conference COP 28, in Dubai, United Arab Emirates (UAE), President Bola Tinubu said Nigeria would take a significant step towards a sustainable and eco-friendly future by introducing a pioneering initiative to deploy a fleet of 100 electric buses. He explained that the strategic initiative is
aimed at significantly reducing Nigeria’s carbon footprint and modernizing the country’s transportation systems as part of a larger effort to position Nigeria and Africa as the pioneering frontier of green manufacturing and industrialization with a focus on natural gas as a transition fuel alongside other renewable energy sources. To spearhead the transformative plan, the President announced the appointment of the Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji, and the Director-General of the National Council on Climate Change (NCCC), Mr. Dahiru Salisu, to co-chair the Nigeria Carbon Market Activation Plan. “This initiative stands as a testament to our dedication to environmental stewardship as clearly exemplified through our collaboration with the Africa Carbon Market Initiative. Our visionary plan is a strategic guidepost, directing Nigeria towards becoming an investment-friendly destination for carbon market investments. “We recognise the imperative of fostering an environment that not only attracts investment but also upholds standardized and sustainable industrial practices. As a manifestation of our forward-thinking approach, we are actively looking to implement robust, enabling policies and frameworks that will serve as the catalyst for the burgeoning growth of the carbon market within our national borders. “In further driving my commitment, I have recently approved an Inter-governmental Committee on Carbon Markets to be chaired by the Executive Chairman of the Federal Inland Revenue Service and the Director-General of the National Council on Climate Change to drive this visionary plan,” the President stated. Continued on page 26
T H I S D AY • Thursday, December 21, 2023
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BUSINESSWORLD
Development
Nigeria’s Commitment to Clean Energy The President remarked that the initiative would be a concrete manifestation of the administration’s unwavering dedication to a carbon-neutral future, while assuring investors that this is only the commencement of the government’s ambitious plans, with many more impactful initiatives on the horizon. Tinubu, while acknowledging the pressing need for a comprehensive global collaboration on climaterelated challenges, called on global partners to join hands in accelerating collective efforts towards a net-zero future. According to the President, “As we unveil our initiatives, I challenge other nations to emulate our strides in mapping out their sustainable futures with a clear understanding that Africa is a beacon of innovative solutions to climate-related challenges. In this pursuit, we acknowledge the pressing need for comprehensive global collaboration, and we reiterate our commitment to being an active participant in international efforts. “Nigeria’s plans for a greener and cleaner economy can serve as an inspirational narrative for nations worldwide. Our comprehensive approach, rooted in visionary leadership and pragmatic action supported by our technical partners, is poised to become a blueprint for countries aspiring to also develop and catalyze their markets for sustainable growth.” In his remarks, FIRS Chairman, Mr. Zacch Adedeji acknowledged the visionary leadership of President Tinubu as the guiding force behind Nigeria’s commitment to harnessing its vast carbon potential. Adedeji pledged the full commitment of the Committee to drive the implementation of efficient policies and frameworks to achieve sustainable carbon market growth. Reiterating Nigeria’s readiness to lead the global effort to combat climate change, Adedeji described the initial phase of the rollout of the electric buses as a tangible symbol of Nigeria’s commitment to modernizing its transportation systems while reducing Africa’s modest carbon footprint. “In the immediate term, Nigeria will proudly unveil a series of innovative, clean, modern, and sustainable initiatives across diverse sectors. These initiatives are strategically designed to not only address climate change-related challenges, but also to position Nigeria as an attractive destination for global investments. “The business-friendly environment and policy frameworks we are developing underscore our readiness to welcome and facilitate investments that align with our collective commitment to a greener future for Nigeria and the African continent,” the FIRS Chairman affirmed.
Commitment of Multilateral Organisations
The governments of United Kingdom, France, Spain and Japan together with the International Monetary Fund (IMF), the United Nations, African ministers, the Asian Development Bank and other international institutions, have given their strongest support for a proposal by the African Development Bank Group and the Inter-American Development Bank for the channeling of special drawing rights (SDRs) through multilateral development banks (MDBs). The Heads of Major African and Global Development Institutions, representatives of G20 governments, the UN, the International Fund for Agriculture Development (IFAD) and the Rockefeller Foundation, commended the two banks for their innovative proposal that would deliver much-needed financial resources to vulnerable countries. The channeling of SDRs through the MDBs strongly aligns with and was articulated in the MDB Vision Statement issued at the Summit on a New Global Financing Pact held in Paris in June 2023. The IMF issued a historic general allocation of Special Drawing Rights (SDRs) worth $650 billion in 2021 to help countries deal with the impact of a global crisis triggered by the Covid-19 pandemic. Africa, with a population of more than 1.2 billion, received only $33 billion representing about 5 percent of the total allocation, the smallest portion among
the different regions of the world. The African Development Bank and the InterAmerican Development Bank have developed an innovative mechanism that preserves the reserve asset status of the SDR. The mechanism consists of a long-term loan from SDR-rich shareholders to an MDB. This loan will be structured as a hybrid capital instrument and can therefore be accounted for as equity in the MDB’s balance sheet. It is also underpinned by a Liquidity Support Agreement between contributing shareholders. That will allow any of them to access resources from other contributing members, should they experience balance of payment needs. The African Union at its meeting of Heads of State in February 2022 urged wealthy nations to increase the SDR allocation to the continent to at least $100 billion and channel part of them through the African Development Bank. Speaking at the roundtable, the Bank’s President Dr Akinwumi Adesina reiterated the benefits of channelling the SDRs through MDBs. He said, “MDBs can multiply the channelled SDRs by at least four times their original values.” This multiplier effect means that $5 billion of channelled SDRs could be transformed into a $20 billion of new financing for Africa. The MDBs can multiply the channelled SDRs by at least four times their original values. This multiplier effect means that $5 billion of channelled SDRs could be transformed into $20 billion of new financing for Africa.” Adesina added: “This will transform the SDRs from static foreign reserve assets into dynamic lending instruments, at affordable costs, to finance development, while preserving their reserve asset status, and be at zero cost to taxpayers in SDR-rich countries.” However, Moulin said, “Through a liquidity support arrangement, France is willing to provide guarantees. “We have a possible solution as part of the toolkit for the financing of climate and development; now we have to make it alive. The United Kingdom was one also one of the first countries to deliver on its pledge to channel 20 per cent of SDRs worth $4 billion when it signed agreements with the IMF at the Spring meetings this year. The UK commended the African Development Bank and the Inter-American Development Bank “for these innovative proposals to maximise the value of SDR channelling.”
Expert Opinion
Friends of the Earth Africa (FoEA) in partnership with Climate Action Network Africa (CAN-A), Africa Coal Network (ACN), Hand Off Mother Earth (HOME) Africa working group against Geoengineering and Environmental Rights Action/ Friends of the Earth Nigeria, hosted a side event at the COP28 in Dubai to review the path to a just transition to 100 percent renewable energy for Africa. In his remarks, the Climate Justice and Energy Lead for FoEA, Ubrei - Joe Maimoni, who is also the Programme Manager for Environmental Rights Action/ Friends of the Earth Nigeria, highlighted that the transfer of subsidies from the polluting fossil fuels industry to renewables would still be a high hanging fruit process without a clearly spelt out policy framework, with measureable goal that is people centered, and serves the purpose of the continent, with the appropriate budgetary allocations, and government support in the form of good political will. According to him, “There is word out here in Dubai that a decision to triple renewable pledges so we can meet the 100 percent renewables energy target will be made at this COP28, which posed a question to the peoples in the room, will this pledge light up Africa? Will it make us another pot of extractions? Or make us a powerhouse of renewable energy tech production? Will this keep us in the loop of consumption and extraction? Or will this move us to tech self reliance and equitably just mineral extraction usage? We should not allow this transition to be a renewal of energy colonization. Africans must be at the center of the pathways to 100% renewable.”
X3M Ideas, Babaeko Win Continental Awards As 2023 moves towards the end, Nigeria’s leading creative hub, X3M Ideas and its Group Chief Executive Officer, Steve Babaeko, have consolidated their exploits in the year with the ‘African Agency of the Year’ and ‘African Personality of the Year’ respectively at the African Cristal Awards held in Casablanca, Morrocco. Speaking on the double recognition, Babaeko said: “I’m here to humbly accept the honour by the African Cristal Awards for choosing me as the African Personality of the Year. I’m truly humbled and grateful I want to assure the entire world that my passion for Africa will never
wane. We’ll continue to represent Africa all over the world and we will continue to fly the flag for Africa wherever we go. “And as far as the advertising industry is concerned, we will continue to deliver the best practice and business all over Africa. Thanks once again for this award.” In a related development, the Brand Journalists Association of Nigeria (BJAN), a group of media specialists who cover the entire marketing communication industry in Nigeria, has also named Babaeko as the ‘Practitioner of the Year’ at its 11th Annual Brands & Marketing Conference and
Awards, held in Lagos at the weekend. Speaking on why and how Babaeko won the category, the Chairman of the Association, Clara Okoro, who addressed players in the corporate Nigeria, Marketing Communications and Media, said the jurors who did a painstaking analysis of reports on agencies and accomplishments of various practitioners in Nigeria in the year under review, could not but unanimous in voting Babaeko, for achieveing the unusual in the year and put Nigeria on the world map.
T H I S D AY • THURSday DECEMBER 21, 2023
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Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com
L-R: Director, Youth Development, Federal Capital Territory Administration (FCTA), Asabe Umar; Director of Press and Public Relations, National Youth Service Corps (NYSC), Mr. Eddy Megwa; Director of Special Duties, NYSC, Alhaji Musa Abubakar; and Director-General, NYSC, Brigadier-General Yushau Dogara Ahmed, during the closing ceremony of the 2023 Batch ‘C’ Stream Two Orientation Course held at the NYSC FCT Orientation Camp in Kubwa, Abuja…recently
L-R: Chairman/Chief Executive Officer, Nigerians in Diaspora Commission (NIDCOM), Hon Abike DabiriErewa; Minister of Housing and Urban Development, Ahmed Dangiwa; and Head of Legal Unit, NIDCOM, Mr. Abdullahi Bello, when Dabiri-Erewa visited Dangiwa to discuss the Diaspora Mortgage and Diaspora Housing Scheme in Abuja…recently
L-R: Lecturer, School of Media and Communication, Dr. Tomi Vincent; Academy Director, MultiChoice Talent Factory, West Africa, Mrs. Atinuke Babatunde; winner of MultiChoice Talent Factory (MTF) Students Trailblazer’s Award, Deborah Okyerewaa Aduamah; and President/ Director’s Guild of Nigeria (DGN) Dr. Victor Okhai, at the MultiChoice Talent Factory (West Africa) (at 5) celebration and award, held at the Landmark Beach in Lagos…recently
L-R: Regional Operations Director (Lagos) Airtel Nigeria, Chika Obanor; Vice Chairman, Ifako Local Government Area, Lagos, Hon Toyin Akerele Awoniyi; and others during the Lagos edition of Airtel annual ‘Five Days of Love’ campaign at Ifako-Ijaye, Lagos…recently
L-R: Partner/Co-Founder, AO and FA Consulting, Mr. Olawale Abiola; Corporate Relations Specialist, Guinness Nigeria Plc, Christianah Ogunyoola; Managing Director/Chief Executive Officer, EnergiHub, Mr. Olatunde Akintola; and Chief Financial Officer, Chartered Institute of Personnel Management, Mr. Edward Dunkwu, during the ‘Finance for Non-Finance Managers’ training organised by AO and FA Consulting in Lagos...recently PHOTO: ETOP UKUTT
L-R: Managing Director/Chief Executive Officer, First Pension Custodian, Mr. Oloruntimilehin George; Chief Compliance Officer, First Pension Custodian, Mr. Tunde Folayan; and the Home Manager, Old People’s Home, Yaba, Lagos, Dr. Adekola Oluwafunmilayo, during the visit of the First Pension Custodian team to present gifts to the home as part of its Corporate Social Responsibility (CSR) activities in Lagos…recently
L-R: Technical partners to TingoMobile, Sam Onwuekwe and Maureen Rhema, both of NetPlus Limited; Chief Executive Officer, Tingo Mobile Nigeria, Auwal Maude; Group Product Director, Uzo Onumonu; and CEO, Tingo Africa, Edwin Obasogie, at the launch of TingoePOS in Lagos…recently
L-R: Regional Sales Manager, Spectranet Nigeria, Mr. Jibril Nasiru; Regional Sales Head, Spectranet Nigeria, Mr. Raja Ramaswamy; Managing Director, Preplaze, Mr. Emmanuel Chukwu; Head of Marketing, Spectranet Nigeria, Mr. Prem Kumar; and Territory Sales Manager, Spectranet Nigeria, Mr. Abdul Ilufoye, during the prize presentation ceremony to Jara dealers in Lagos...recently PHOTO: ABAYOMI AKINYELE
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THURSday, DECEMBER 21, 2023 T H I S D AY
business/MOnEYGUIDE
Accounting Firm Uplifts Apapa Residents with Christmas CSR Initiative Oluchi Chibuzor Ecovis OUC, a foremost accounting firm, has extended the joy of the festive season to residents of the Apapa Local Government with the donation of 300 bags of rice and cash through its annual Christmas Corporate Social Responsibility (CSR) initiative. Speaking at a brief ceremony to flag off the initiative, the Managing Partner of Ecovis OUC, Mr Andrew Uviase said the CSR initiative was born out of commitment to positively impact lives in the company’s community. He said, “Historically, this event started in 2015 when we shared rice to about 50 people. It has grown gradually to 300 persons. “This year, we are also giving a cash token of 5000 to each beneficiary. Our joy this year is that despite the economic challenges that we are
facing as a country, we were able to sustain the programme.” While appreciating members of staff for their tireless efforts, Uviase encouraged them to hope for a better future for themselves and the company, predicting that 2024 will be better than 2023 in all ramifications. ‘‘We are also happy that our forecast of the economy is that next year will be better. The present administration has taken very bold steps to unchain the economy from the shackles of developmental impediments. I can assure all today that it can only get better.’’ Also speaking at the event, Chairman, Apapa LGA, Idowu Sebanjo, commended Ecovis OUC for its commitment to sustaining the CSR initiative, adding that this is a significant boost for the welfare of the people. Represented by Wilshere
Tosan, the Supervisor of Information, Intergovernmental Relations and Budget, Sebanjo said, “I commend Ecovis OUC for their meaningful and impactful CSR efforts to the well-being of our community members. Some businesses wait for the government only to provide for the well-being of their community. We are proud of you, as this move contributes greatly to the spirit of communal support during festive seasons,” remarked the Chairman. “This initiative stands as a testament to Ecovis OUC’s dedication to corporate social responsibility and community development. As Apapa residents gear up for the Christmas festivities, the impact of this benevolent act will undoubtedly resonate, bringing warmth and cheer to households that have benefited from Ecovis OUC’s goodwill.”
From left: Senior Special Adviser on Media, Apapa LGA, Seun Gbokoyi; Partner, Tax and Regulatory Services, Ecovis OUC, Michael Aghwana; Managing Partner, Andrew Uviase; Partner Audit and Assurance, Peter Famuyiwa; Supervisor Information, Intergovernmental Relations and Budget, Apapa LGA, representing Chairman Apapa Local Govt Area, Tosam Wiltshire; Senior Special Adviser on Information Technology, Apapa LGA, Muse Taiwo and Partner Practice Management, Ecovis OUC, Victoria Okpako at the Christmas CSR initiative of Ecovis OUC in Apapa Lagos…recently
Taxation: CITN Pledges Commitment to Reform Implementation
MARKET INDICATORS
Omolabake Fasogbon
MONEY AND CREDIT STATISTICS (MILLION NAIRA)
The Chartered Institute of Taxation of Nigeria (CITN) has restated commitment to the smooth execution of various tax policies and reforms instituted by present administration. President and Chairman of Council, CITN, Samuel Agbeluyi stated that the institute was constantly in talks with relevant stakeholders at ensuring that reforms are well directed for the good of the nation.
Agbeluyi who was speaking at the institute’s fellowship conferment ceremony/dinner and awards in Lagos, maintained that the development of taxation lies on the actions and proficiency of professionals, thus charged them on continuous skills update. He urged the new fellows to key into the institute’s trainings, conferences and other programmes to be able to stay abreast of trends in the discipline, necessary for them to deliver effectively. On her part, Chairman of
the Membership and Professional Conduct Committee of CITN, Dr Titilayo Fowokan admonished fellows to see their new status as a call to greater responsiblities and roles that should be played with strict compliance to ethics. She said, “See your new status as a commitment to uphold the highest standards of our profession, mentor/ inspire the next generation, and contribute to the advancement of tax practice, tax administration, and the society at large.”
RIF Trust Partners Providus Bank on ‘Scents of Wealth’ Initiative Sunday Ehigiator Leading global Residency and Citizenship by Investment expert, RIF Trust, part of the Latitude Group recently partnered with Providus Bank to host the Scents of Wealth initiative. The event, held at the bank’s Corporate Office Rooftop, also in partnership with Seinde Signature, united High Networth Individuals (HNWIs) and investment migration industry figures, as they discussed second citizenship and its impact on wealth management. Speaking at the event, RIF
Trust’s Nigeria Country Manager, Zuberu Kadiri, said, “RIF Trust recognises the growing interest in investors acquiring a second passport. It’s a way to diversify and maintain wealth to benefit future generations. Expert speakers explained the financial and lifestyle advantages of dual citizenship. “Partnering with ProvidusBank and Seinde Signature is a thrilling collaboration. This reflects our commitment to offering holistic citizenship solutions. These empower entrepreneurs to enhance their lifestyles and secure
their financial futures.” Also speaking, Lead, Premium and Lifestyle Card Business at ProvidusBank, Anita Ekenimoh noted that, “ProvidusBank believes in providing our clients with comprehensive solutions that go beyond traditional banking services.” In her remarks, Seinde Signature’s Business Development Manager, Oreoluwa Olusola, praised the combined expertise of the three hosts. She noted that “Scents of Wealth is a testament to our shared commitment to excellence and innovation.”
CIS Elevates Jalo-Waziri to Fellow The Managing Director and Chief Executive Officer of Central Securities Clearing System (CSCS) Plc, Haruna Jalo-Waziri, has been elevated to a Fellow of Chartered Institute of Stockbrokers by the Institute’s Board of Fellows. In his welcome address, the President and Chairman of the Institute’s Governing Council, Mr Oluwole Adeosun, who paid glowing tributes to Jalo-Waziri’s professional contributions to market development, explained the modalities for attaining the exalted position of Fellowship. “As an important background, i need to explain that full membership of CIS begins at the Associate Level, while Fellowship is the highest category. To be
a Fellow, a member must in addition to professional excellence, pass the moral and integrity tests with flying colours. Our investee of today (Jalo-Waziri) has done just that. Jalo is the Chief Executive Officer of Nigeria’s premier financial market Infrastructure company, the Central Securities Clearing Systems (CSCS) Plc, which provides depository, clearing and settlement of financial assets across multiple Exchanges in the Nigerian Capital Market, “he said. Responding to his Investiture, Jalo-Waziri appreciated the Institute for the honour and pledged to uphold its ethics that are rooted in the highest level of professional standard by global metrics. “It is a tremendous honor
to be recognized by an esteemed institution that aims to uphold the highest standards of excellence and ethics in the Nigerian Capital Market and the global financial services industry. I am truly humbled by this distinction and pledge to continue to uphold the principles and values that the institute stands for such as professionalism, integrity, and accountability. This honour is not just a personal recognition, but a testament to the collective efforts and support of many individuals and organizations who have been instrumental in my professional journey. I hope I can pay it forward as I enrich and shape the professional trajectory of our successors in the field, “he said.
August, 2023
Money Supply (M3)
65,445,154.2
-- CBN Bills Held by Money Holding Sectors
552,553.58
Money Supply (M2)
64,892,600.61
-- Quasi Money
40,870,301.28
-- Narrow Money (M1)
24,022,299.33
---- Currency Outside Banks
2,295,309.10
---- Demand Deposits
21,726,990.23
Net Foreign Assets (NFA)
7,144,158.92
Net Domestic Assets(NDA)
58,300,995.27
-- Net Domestic Credit (NDC)
87,273,966.81
---- Credit to Government (Net)
32,511,333.17
---- Memo: Credit to Govt. (Net) less FMA
0.00
---- Memo: Fed. and Mirror Accounts (FMA)
0.00
---- Credit to Private Sector (CPS)
54,762,633.63
--Other Assets Net
13,347,376.27
Reserve Money (Base Money
19,429,603.25
--Currency in Circulation
2,660,138.92
--Banks Reserves --Special Intervention Reserves
16,769,464.34 428,519.21
• Source - CBN
Money Market Indicators (in Percentage) Month
August 2023
Inter-Bank Call Rate
3.89
Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)
18.75
Treasury Bill Rate
5.13
Savings Deposit Rate
5.26
1 Month Deposit Rate
7.31
3 Months Deposit Rate
7.55
6 Months Deposit Rate
8.30
12 Months Deposit Rate
8.13
Prime Lending rate
13.99
Maximum Lending Rate
27.59
• Monetary Policy Rate - 13%
OPEC DAILY BASKET PRICE As At 29th September , 2023
The price of OPEC basket of thirteen crudes stood at $97.48 a barrel on Thursday, compared with $97.08 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
T H I S D AY •THURSday, DECEMBER 21, 2023
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mARKET NEWS
MTN, CardinalStone,VFD Group Recognised at NGX Made of Africa Awards Kayode Tokede MTN Nigeria Communications Plc, VFD Group Plc, CardinalStone Securities and Chapel Hill Denham were big winners at the just concluded Made of Africa Awards organized by Nigerian Exchange Limited (NGX). The Chief Executive Officer of Nigerian Exchange Limited, Temi Popoola, noted at the event that the annual Made of Africa
Awards is aimed at encouraging more listings, transactions, better compliance and stimulating innovation in the capital market. NGX MOA Awards is designed to recognize organizations and individuals within the Nigerian capital market ecosystem that demonstrate exceptional performance in value delivery and sustainable impact, and act as key drivers in strengthening the Nigerian and African capital
P R I C E S MaiN Board
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markets. Speaking at the awards, Popoola said, “These awards serve as a platform to showcase the best the capital market has to offer, inspiring more private sector organizations, states and the federal government to list shares, issue debt securities, and inject fresh capital into the market. Through NGX Made of Africa, we remain committed to encouraging and incentivizing
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our partners, and promoting inclusivity as we contribute to the development of the capital market.” The Exchange boss added that NGX takes pride in leading the way in innovation, excellence, and corporate governance best practices, hence the importance it attaches to “Rewarding innovation, excellence, and adherence to existing rules and regulations as fundamental to stakeholder
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collaboration in our market. Popoola went on to congratulate the winners of the 2023 edition of the awards. MTN won the Most Compliant Listed Company award while VFD Group was recognised as Listing of the Year. CardinalStone Securities won Equity Trader of the Year while Lagos State Government and the Debt Management Office were recognised for the State Govcaoiternment with the Largest
Sub-National Debt Instrument Issuance and Capital Market Excellence Award respectively. Chapel Hill Denham was recognized in two categories, Cross-Border Trade Facilitator of the Year and Fund Manager with the Largest Listed Fund Size, while Cordros Capital and Kairos Capital both won the award for the Issuing House with the Highest Number of Primary Market Transactions (Equity Category).
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THURSDAY, DECEMBER 21, 2023 • T H I S D AY
MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the
floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 19Dec-2023, unless otherwise stated.
Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.
DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS
AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 307.88 307.88 63.32% Afrinvest Plutus Fund 100.00 100.00 9.84% Nigeria International Debt Fund 339.33 339.33 5.10% Afrinvest Dollar Fund 110.04 110.04 6.30% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.03% Anchoria Equity Fund 188.97 191.44 30.37% Anchoria Fixed Income Fund 1.27 1.27 3.48% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 29.71 30.60 35.37% ARM Discovery Balanced Fund 654.06 673.78 25.48% ARM Ethical Fund 53.88 55.50 19.42% ARM Eurobond Fund ($) 1.17 1.17 4.29% ARM Fixed Income Fund 1.16 1.16 4.35% ARM Money Market Fund 1.00 1.00 10.74% ARM Short Term Bond Fund 1.07 1.07 2.88% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 107.27 107.27 17.72% AVA GAM Fixed Income Naira Fund 1,151.02 1,151.02 7.34% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn 196.44 197.82 45.63% AXA Mansard Equity Income Fund 1.00 1.00 11.89% AXA Mansard Money Market Fund 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 2.23 2.23 9.48% CEAT Fixed Income Fund 3.01 3.08 33.90% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn 1.05 1.05 7.94% CardinalStone Fixed Income Alpha Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CHD Nigeria Bond Fund N/A N/A N/A CHD Nigeria Dollar Income Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 9.26% Cordros Milestone Fund 168.15 169.33 30.58% Cordros Fixed Income Fund 107.40 107.40 10.34% Cordros Halal Fixed Income Fund 109.10 109.10 10.97% Cordros Dollar Fund ($) 114.18 114.18 6.19% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1541.26 1541.26 12.01% FBN Balanced Fund 265.99 268.27 43.89% FBN Halal Fund 133.16 133.16 13.22% FBN Money Market Fund 100.00 100.00 11.79% FBN Dollar Fund 123.64 123.64 7.60% FBN Smart Beta Equity Fund 242.72 245.84 60.16% FBN Specialized Dollar Fund 111.49 111.49 9.59% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 8.75% Legacy Debt Fund 3.58 3.58 0.02% Legacy Equity Fund 2.73 2.78 36.47% Legacy USD Bond Fund 1.32 1.32 4.92% 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 FSDH Dollar Fund N/A N/A N/A
GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Guaranty Trust Money Market Fund N/A N/A N/A Guaranty Trust Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Guaranty Trust Equity Income Fund (VEIF) N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.81 1.84 17.62% Lotus Halal Fixed Income Fund 1,212.04 1,212.04 10.69% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 104.24 104.24 11.98% Norrenberger Money Market Fund (NMMF) 100.00 100.00 12.68% Norrenberger Dollar Fund (NDF) ($) 103.67 103.67 11.27% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 2.27 2.32 44.31% PACAM Fixed Income Fund 11.96 12.19 7.92% PACAM Money Market Fund 10.00 10.00 8.46% PACAM Equity Fund 2.19 2.22 54.01% PACAM EuroBond Fund 131.06 134.15 17.63% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital The Frontier Fund 162.92 168.09 29.60% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund N/A N/A N/A STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 4,916.18 4,959.51 45.08% Stanbic IBTC Bond Fund 255.47 255.47 8.45% Stanbic IBTC Ethical Fund 2.03 2.05 61.90% Stanbic IBTC Guaranteed Investment Fund 351.93 352.07 12.41% Stanbic IBTC Iman Fund 369.65 374.17 58.28% Stanbic IBTC Money Market Fund 1.00 1.00 11.48% Stanbic IBTC Nigerian Equity Fund 17,703.11 17,922.06 62.16% Stanbic IBTC Dollar Fund (USD) 1.46 1.46 13.10% Stanbic IBTC Shariah Fixed Income Fund 127.99 127.99 9.48% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 125.55 125.55 18.02% Stanbic IBTC Absolute Fund 4,994.59 4,994.59 17.41% Stanbic IBTC Aggressive Fund 5,275.28 5,341.67 89.75% Stanbic IBTC Conservative Fund 5,233.56 5,258.43 37.54% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.32 1.33 44.53% United Capital Balanced Fund 1.80 1.81 38.65% United Capital Wealth for Women Fund 1.39 1.40 29.58% United Capital Sukuk Fund 1.18 1.18 11.42% United Capital Fixed Income Fund 1.95 1.95 6.89% United Capital Eurobond Fund 124.09 124.09 5.53% United Capital Global Fixed Income Fund 1.08 1.08 8.58% United Capital Money Market Fund 1.00 1.00 11.34% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 18.32 18.53 32.25% Zenith ESG Impact Fund 21.81 22.05 38.06% Zenith Income Fund 25.26 25.26 7.24% Zenith Money Market Fund 1.00 1.00 11.81% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 8.51 8.61 110.80% Vetiva Consumer Goods Exchange Traded Fund 11.41 11.51 94.47% Vetiva Griffin 30 Exchange Traded Fund 26.12 26.32 47.44% Vetiva Money Market Fund 1.00 1.00 10.21% Vetiva Industrial Goods Exchange Traded Fund 26.94 27.14 34.64% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 147.83 149.83 -6.26%
REITS
NAV Per Share
Yield / T-Rtn
N/A 59.27 101.79 10.04
N/A 11.79% -12.08%
Bid Price
Offer Price
Yield / T-Rtn
21.05 460.00 717.99 N/A N/A
23.27 460.00 717.99 N/A N/A
42.76% 257.36% 611.94% N/A N/A
NAV Per Share
Yield / T-Rtn
N/A
N/A
Fund Name
SFS REIT Union Homes REIT Nigeria Real Estate Investment Trust UPDC REIT
EXCHANGE TRADED FUNDS
Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF
I N F R AST R U CT U R E F U N D
Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund
The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.
T H I S D AY • Thursday, DECEMBER 21, 2023
31
Health & lifestyle
Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, Tel: 07010510430
Tobacco Industry Interference: NigeriaSlips in 2023 Ratings
A new report on the state of the tobacco industry interference in Nigeria has revealed a marked increase in the industry’s meddling in public health policies, in particular, tobacco control measures. Sunday Ehigiator reports
To put it simply, tobacco kills, irrespective of the mode of consumption or the type of product marketed. If this is so, why then should people, particularly Nigerians, have to choose between various harmful products when we can avoid them altogether and save
L-R: CAPPA’s Digital Manager, Anjola Fatuase; CAPPA’s Executive Director, Akinbode Oluwafemi; and CAPPA’s Policy and Research Officer, Zikora Ibeh at the unveiling of the 2023 Tobacco Industry Interference Report titled, ‘Tobacco Industry Interference Index 2023’, held recently in Lagos
N
geria ratified the World Health Organization Framework Convention on Tobacco Control’s (WHO FCTC) Article 5.3 guidelines on 20 October 2005, and it entered into force on 18 January 2006. Nigeria’s National Tobacco Control Act which was signed into law on 10 June 2015 covers several areas of tobacco control including regulation of smoking, the prohibition of tobacco advertising, promotion and sponsorship, regulation of tobacco products, content and product packaging, licensing and protection from tobacco industry interference, among others. The 2023 report The report titled Tobacco Industry Interference Index 2023, produced by Corporate Accountability and Public Participation Africa (CAPPA) with support from Bloomberg Philanthropies through the Centre for Good Governance, released on Tuesday, in Lagos, showed, Nigeria’s ratings jumped from 53 in 2021 to 60 points in 2023. According to the report, the main deterioration is manifest in the Nigerian government’s challenges and failure to adhere to transparency mechanisms, and disclosure of exchanges with the Industry as mandated by the National Tobacco Control Act 2015 and the National Tobacco Control Regulations 2019. These breaches, it noted, are exploited maximally by the tobacco industry to interfere in public health policies and deliberations. Other areas of concern The report also flagged other areas of concern which include; the unnecessary and unhealthy interaction between the tobacco
industry and public officials, mostly in the agriculture sector where top government officials have been documented in several instances, participating in the industry’s activities and openly lauding them. It also revealed the tobacco industry’s use and loud celebration of its Corporate Social Responsibility (CSR) activities in the media and on social platforms as a way of enhancing its image to attract unsuspecting individuals, thereby creating a perception of the industry and its products as responsible and desirable. It says, these CSR initiatives are further promoted by the endorsement of state authorities, who associate and collaborate with the industry to execute socio-economic empowerment programs. It also flagged the weak enforcement of preventive measures, including ambiguities in the National Tobacco Control Act (NTCA) 2015 and its Regulations of 2019. According to the report, “These challenges inadvertently allow the tobacco industry to operate without accountability in certain instances. For instance, while the NTCA mandates the tobacco industry to submit annual reports on tobacco and tobacco products, it also retains that the Minister may choose to either disclose or withhold this information from the public. This optional transparency makes it difficult for public health advocates to verify whether compliance is being enforced or not.” Lastly, it flagged the industry’s continued participation in policy development in Nigeria such as its enjoyment of invitations from the government interagency bodies and
agencies to meetings where classified resolutions on public health are reached. Recommendations To address these challenges, the report urged the Nigerian government to fully implement the National Tobacco Control Regulations 2019, and also review ambiguities in the law so they do not provide revolving doors that the tobacco industry can exploit to interfere in publi c health and other policies of the government. A d d i t i o n a l l y, t h e re p o r t a l s o tasked state authorities to build i n t e rg o v e r n m e n t a l s y n e rg y a t all levels by establishing clear protocols for the full disclosures of minutes and proceedings from meetings and interactions with t h e t o b a c c o i n d u s t r y. To b e g i n , i t a d v i s e d re l e v a n t Ministries, Departments and Agencies (MDAs) to consistently update their websites and other information platforms to facilitate the easy dissemination of information and engender t r a n s p a re n c y. CAPPA’s position Speaking at the official launch of the report, CAPPA’s Executive Director, Akinbode Oluwafemi said, “Whilst Nigeria’s National Tobacco Control Act and its Regulations have largely checked the activities of tobacco corporations and entities, the industry has exploited some weaknesses in these laws and gaps in
the system to interfere in tobacco control. “Our findings show that, despite existing policies, the government’s reluctance to fully disclose interactions with the tobacco industry continues to hinder progress in tobacco control efforts. These findings are also echoed in the Global Tobacco Industry Interference Index 2023 where Nigeria is listed among seven countries, in which national boards were influenced by the industry to develop standards which laid the groundwork to legalize new tobacco and nicotine products. “It is on this note that we once again express our firm rejection of the tobacco industry’s growing attempts and lobbying to market new products, including non-combustible alternatives like snus, chew, and dip, among others. “Contrary to the industry’s narrative, these so-called ‘safer ’ alternatives still contain harmful chemicals that pose significant health risks. Research by health scientists on emerging and newly identified health risks has shown that these products, often touted as safer, carry considerable health risks. “They have detrimental effects on cardiovascular health, increase the risk of diabetes and metabolic syndrome, impair oral health, and pose risks to both mothers and their babies. “To put it simply, tobacco kills, irrespective of the mode of consumption or the type of product marketed. If this is so, why then should people, particularly Nigerians, have to choose between various harmful products when we can avoid them altogether and save lives? “We strongly urge the government, particularly the Standards Organisation of Nigeria (SON), to act as a bulwark for the health of Nigerians, and discard any ideas or proposals to legitimise these products that will further corrupt and pose a significant threat to the public health of Nigerians.” Additionally, CAPPA’s Policy and Research Officer, Zikora Ibeh, noted that “The Nigerian government must work to ensure that public officials in relevant ministries, departments and agencies sign conflict-ofinterest forms periodically to remind them of commitments or obligations that may compromise their office and operations.
Mother of One-year-old Seeks N1m For Multiple Holes Heart Surgery Ayodeji Ake The distraught mother of oneyear-old Mofeoluwa OchocheSamuel is desperately seeking N1 million for open-heart surgery for multiple holes in the heart. Baby Mofeoluwa was diagnosed with this heart defect (including a large-sized heart) at six months old. The medical report from the Lagos University Teaching Hospital (LUTH) shows she has symptomatic congenital heart disease. The child’s mother, Folakemi Ogunsusi narrated her ordeal to our reporter. “I had
her on 17th April 2022. “Since her birth, she has been breathing fast, constantly sleeping and not eating well. She doesn’t cry out loud. It was last September when she started running a fever.” Twenty-five-year-old Folakemi, a single mum, took her baby to Rando Hospital in Lagos, where the doctor discovered Mofeoluwa wasn’t breathing well. Folakemi emphasised: “The doctor admitted her immediately that day, and placed her on oxygen for a month. The hospital advised us to do an x-ray. “Upon getting the result, they discovered she has a large heart.
Immediately, the doctor placed her on heart medications. After a month, the hospital referred us to a cardiologist at LUTH.” After a series of examinations and tests, she was placed on oxygen at LUTH, where she spent a week and a half. She lamented: “I’m a teacher. I earn N25,000 monthly. I won’t be able to meet up savings even if I save my entire salary for three years. I don’t want to lose my child.” Mofeoluwa is only a year and five months old now. She isn’t growing: she isn’t crawling or walking. Through a Non-profit organisa-
tion, Gifting Volunteer Network (GVN), the mother has called on the public to save her daughter. The president of GVN, Mr. Belele David. Tamarau-kuro said that Grace Mofeoluwa is among the many critical cases his organisation has helped through public intervention. “I never thought I would have a child with this kind of health issue,” decried Folakemi, a devastated young mum. To save Mofeoluwa, all kind donations can be made to: Account Number- 0874785042 Name- Grace Mofeoluwa Ochoche-Samuel. Bank- Gtb
Mofeoluwa Ochoche-Samuel
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tribute
THURSDAY, DECEMBER 21, 2023 • THISDAY
Oyebanji: Celebrating A Change Agent At 56
By Yinka Oyebode
L
ast week, December 12th to be precise, Ado-Ekiti, the capital of Ekiti State witnessed an unusual development. Pensioners in the state under the auspices of the Nigeria Union of Pensioners (NUP) organised a special prayer session for Governor Biodun Oyebanji and his administration. The sole purpose of the one- day intercessory programme by the senior citizens was to prayerfully support the Governor and his administration. On that day, the pensioners, in their hundreds, thronged the Jibowu Hall, venue of the programme and devoted the entire time praying for the Governor, who on invitation, attended the programme accompanied by his deputy, Chief (Mrs) Monisade Afuye and some members of the state executive council. The message being passed by the pensioners was loud and clear. What they were simply saying was that they might not have silver nor gold to give the Governor for his demonstrated commitment to their welfare and wellbeing, through prompt payment of pensions and consistency in defraying outstanding gratuities as well as other policies and programmes that have directly impacted their lives. But what they have- prayers- they would freely offer to God on his behalf. Elder Joel Akinola, the state Chairman of NUP, said the pensioners had never organised such an intercessory programme for any sitting Governor of the state. He said they were moved to do it because of the Governor’s has prioritised their welfare in such an unprecedented manner. If the pensioners premised their support for Governor Oyebanji on the new lease of life he has injected into their union through prompt fulfilment of government obligations to them, the three former governors of the state that publicly endorsed Governor Oyebanji some six weeks earlier, hinged their decision on BAO’s performance and exemplary leadership style, which has united various tendencies within the state with concomitant peace, stability and massive development in the state. Former Governors Adeniyi Adebayo, Kayode Fayemi and Ayodele Fayose as well as the Senate Leader, Senator Opeyemi Bamidele, gave what is aptly an endorsement that is unprecedented, during the thanksgiving service commemorating Oyebanji administration’s first anniversary on October 22nd. Former Governor Fayose spoke on behalf of the trio, drawing a thunderous applause from the congregation. Former Governor Segun Oni, who was not present during the thanksgiving service made up for his absence some weeks later when he joined the Governor for a Sunday service at the Government House chapel. How BAO is able to garner the support and cooperation of all his predecessors in office as well as all candidates of other political parties that contested the June 2022 election with him, remains a classical lesson in political maturity and demonstrated leadership capacity. Those who have followed Oyebanji’s trajectory right from his student’s days, through the period of pro- democracy movement, the period of agitation for the creation of Ekiti State as well as his foray into public service, would readily admit that his unique approach to governance does not come as a surprise. BAO, as he is fondly called, is guided by the social democratic principle of lifting the weak and supporting the vulnerable in the society as well as the biblical injunction of love your neighbour as yourself. His genuine concerns include how to give a voice to the voiceless; how transformational leadership can replace transactional politics; how to build strong institutions instead of strong men; how to make government wear a human face; how every citizen can feel the impact of government regardless of their social standing; and what mechanism should be put in place for genuine and effective empowerment of the citizens, especially the less privileged, towards the attainment of the good life for all. Governor Oyebanji is disarmingly unassuming. Those who have come in contact with him, and, indeed a vast majority of Ekiti people, believe his simplicity has brought a new level of zest to governance and redefined performance with
Governor Biodun Oyebanji
emphasis on excellent service delivery, measureable impact, prudent management of resources, zero distraction, minimal noise and maximum benefit to the people, in line with the shared prosperity agenda of his administration. As a change agent, BAO believes it is not enough for a leader to lead the people. He believes a leader must live in the hearts of the people by serving them diligently and sincerely. He believes trust is a public good without which no great thing can be achieved collectively. Hence, he believes trust has to be earned. As a leader, he combines integrity, creativity, character, competence, compassion with passion for excellence and development. Many people have tried to explain the uniqueness of BAO’s exemplary leadership style. Some believe it is the “homeboy factor”,
while many believe he got the necessary grooming having served two former governors in six different capacities before becoming governor. But while these assertions are correct, Klaus Schwab, Founder and Executive Chairman of World Economic Forum seems to have the right answer. According to him, “there are four ingredients in true leadership: brain, soul, heart and good nerves.” BAO, no doubt, possesses these four attributes, especially when one considers the outcomes of many of his developmental efforts. His decision to fix the power issues that had put several communities in about four councils in darkness for over ten years by connecting them to the national grid almost at the same time the state’s Independent Power Project (IPP) was commissioned for use is a game changer that has brought a remarkable boost
in the socioeconomic development of the state by people and helped to resuscitate some dying businesses. His huge investment in agriculture as a pathway to industrialisation has also attracted an army of youths into commercial agriculture just as his efforts at making Ekiti a digital hub is already yielding fruits, what with the recent $80 million support from the African Development Bank. His local content policy as well as the inclusion policy are daily redefining government –citizens relationship for the betterment of the state. Born on December 21, 1967, in Ikogosi-Ekiti, Oyebanji had his early education in his home state and in institutions such as Baptist Primary School, Ikogosi-Ekiti; Awo Community High School, Awo-Ekiti; C.A.C. Grammar School, Efon-Alaaye; District Commercial Secondary School, Aramoko-Ekiti; and Federal School of Arts and Science, Ondo. He bagged a Bachelor of Science degree in Political Science from the Ondo State University (now Ekiti State University, Ado-Ekiti) in 1989 and Masters’ degree in Political Science (International Relations and Strategic Studies), from the University of Ibadan in 1992. He started his career as a Lecturer at the Department of Political Science, Ondo State University, Ado-Ekiti, and worked for four years (1993 – 1997) . He later proceeded to work as Manager, Treasury, and Financial Services at the defunct Omega Bank Plc (now Heritage Bank) till May 1999, when he commenced an illustrious career in politics and governance. Since embracing public service in 1999, he has served in various capacities. He started as Special Assistant to the Governor (Parliamentary Affairs, June 1999 – July 2000); Special Adviser (Parliamentary Affairs, Aug. 2000 – Sept. 2001); Chief of Staff to the Governor (September 2001 – May, 2003); Chairman, Governing Board, Citizenship and Leadership Training Centre, Federal Ministry of Youth and Sports Development (June 2009 – December 2010). He served as Commissioner, Ministry of Integration and Inter-Governmental Affairs, Ekiti State ( December 2010 – December 2011); Head, Office of Transformation, Strategy and Delivery (OTSD), Ekiti State (December 2011 – January 2013); Commissioner, Ministry of Budget, Economic Planning and Service Delivery, Ekiti State (January 2013 – October 2014). He also served as Secretary to Ekiti State Government between October 2018 to December 2021, when he resigned his appointment to join the governorship race, which he won on the platform of the All Progressives Congress (APC) in June 22, 2022. He was inaugurated Governor of Ekiti State on October 16, 2022. Oyebanji is a devout Christian who sees his career in politics and governance as a divine calling. His belief is that he is not only accountable to the people, he is also accountable to God. This philosophy remains his guiding light as he continues to serve God and country diligently as a loyal party man and conscientious public servant. As Governor, Oyebanji runs an inclusive administration and makes the welfare and well -being of the people a top priority. Through a combination of prudent management of resources, aggressive industrialisation drive and infrastructure upgrade, he has been able to reposition the state for economic growth. His strategic deployment of technology to block leakages has also led to a remarkable improvement in internally generated revenue for the state. In recognition of his inspirational life journey, BAO has received many awards and recognitions. His most cherished is the Ekiti State Exceptional Achievers (MEEA) Award, granted in recognition of his contributions to the creation of Ekiti State as Secretary, State Creation Committee and Secretary, Ekiti State Development Fund. Oyebanji is married to Dr Olayemi Oyebanji, a senior lecturer in the Department of Educational Management, University of Ibadan. They are blessed with three children. From the rolling hills of Ekiti comes fifty- six hearty cheers for an enigmatic leader, innovator and change agent- BAO the people’s Governor, as he clocks 56 today. •Oyebode, Special Adviser (Media) to the Governor, writes from Ado-Ekiti
33
T H I S D AY • THURSDAY, DECEMBER 21, 2023
NEWS
The Eduns Visit ABIODUN...
L-R: Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; Ogun State Governor, Prince Dapo Abiodun, and the wife of the minister, Mrs. Amy Adwoa Edun, during a courtesy visit to the governor in his Oke-Mosan Office, Abeokuta... yesterday
CDS: Military Jailing Officers Complicit in Oil Theft, Assets’ Vandalism in Niger Delta
Accuses communities in oil-bearing areas of connivance Alleges many IPOB agitators are ritual killers, kidnappers Says Finnish government must call Simon Ekpa to order Emmanuel Addeh in Abuja The Chief of Defence Staff, Gen. Christopher Musa, has said that the Nigerian military will not cover up for any of its officers found to be culpable in the massive oil theft and assets’ vandalism in the Niger Delta. The military chief who spoke on Channels Television, insisted that the armed forces will continue to deploy a lot of efforts in dealing with the issue of illegal bunkering and pipeline vandalism. Nigeria has for over three years been unable to meet its Organisation of Petroleum Exporting Countries (OPEC) oil production quota, only managing to drill 1.25 million bpd of the 1.74 million bpd allocation in November due majorly to the menace . Musa argued that apart from the environmental challenge that oil theft was creating, Nigeria was also losing a lot of money to the problem, blaming communities in the Niger Delta of aiding and abetting the economic saboteurs. “We do understand that the Niger Delta, especially the water body is massive. It's not a place that you just walk and arrest everybody. We have challenges in a lot of the communities. Some communities even provide protection for these oil thieves. On a daily basis, we destroy illegal oil refineries. As you are doing that, you are turning around, they're fixing them back. “They've developed the capacity to fix them at a very short instance. We have seen situations where 8 kilometres away, pipelines are
perfectly connected to individual houses and compounds and they are moving these things out. We cannot be everywhere,” he argued. On the allegation that officers lobby to be deployed in the Niger Delta because it is lucrative to work in the region, Musa acknowledged that he had also heard such rumours, but explained that transfers are usually based on performance. He stressed that commanders who do not do well are quickly redeployed or made to face the law in cases of infractions, including being sent to prison. “We have in the past posted some people and they didn’t do well and we changed them very quickly. But what I can tell you is that we monitor what commanders are doing. Anyone that we find is doing anything illegal, we address them as quickly as possible. “ I can guarantee you that anybody that’s found to be doing anything illegal, especially members of the armed forces, we will take adequate action against that individual. And we have continued to do that. That’s why you see all the operations, we have established standing court martials which jail personnel when they commit these offences. “And I can tell you for free, probably you visit a lot of the prisons around the country, we do not hide anybody who is a criminal and we have zero tolerance for criminality,” he assured. On the recent clash between the security agencies and Tompolo’s pipeline surveillance boys, the
CDS stated that it was a case of miscommunication. He explained that the said complicit ship had already been arrested by the armed forces before officials from Tompolo’s company approached to apprehend it, noting that the altercation had since been settled. Stressing that Tompolo’s Tantita was engaged by the Nigerian National Petroleum Company Limited (NNPC), Musa noted that all those involved in stamping out vandalism and oil theft in the region must work as a team to get any reasonable results.
According to him, most of the locals employed by the surveillance companies know the general areas more and should therefore provide actionable intelligence. “I can tell you that most of the areas where we have challenges of crude oil theft are the abandoned oil wellheads and we have consistently requested that those wellheads should be permanently blocked. “If we block them completely, people will not have where to fetch crude oil,” he said, adding that there are thousands of such wellheads in the Niger Delta. In the South-east, Musa said that
The family of late elder statesman and labour leader, Chief Frank Kokori, has announced a committee saddled with the responsibility of organising a befitting burial for the octogenarian. Kokori, ex-Secretary General of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), passed December 7, 2023 – the exact day he clocked 80 – after a protracted illness. The burial committee list, which was released in Warri yesterday by his son, Mr Kive Kokori on behalf of the family, has 22
members chaired by Archbishop Philip Orovwuje. “Mr Kive Kokori on behalf of the family, after due consultations, wishes to announce the composition of a burial planning committee of distinguished persons. “This is to plan a befitting burial for this highly respected, revered, compassionate, selfless and principled Nigerian whose contribution and commitment to the enthronement of democracy in Nigeria is indelible,” the statement said. It listed Orovwuje as Chairman; Issa Aremu as Alternate Chairman; Dr. Akin Awodeyi-Akinsehinwa as
support the major actors in the insecurity in the East, contributing money to them, encouraging them and giving them logistics and leadership. “We want to call on them that the armed forces and other security agencies are going both overtly and covertly. “Anybody that is found to be supporting them will be treated as one of them. A lot of them are just a bunch of individuals that are misled. There’s nothing like secessionist tendencies. A lot of them are looking for money. They're into kidnappings and ritual killings.
Katsina Gov Signs N454.3bn 2024 Budget into Law Says banditry reduced by 60 per cent
Francis Sardauna in Katsina Governor Dikko Umaru Radda of Katsina State, Wednesday, signed the state’s N454.3 billion 2024 budget into law barely two months after it was passed by the State House of Assembly. Radda assented to the 2024 Appropriation Bill in his office at General Muhammadu Buhari’s Government House, Katsina, the state capital. The ceremonial signing of the budget was witnessed by top government officials, including the state Chief Judge, Justice Musa Danladi Abubakar and Grand Khadi, Dr. Kabir Abubakar.
Speaking shortly after signing the budget, Governor Radda assured strict adherence to the budget implementation procedures, adding that resource allocation was based on needs and priorities. He commended members of the State Assembly for their expeditious approval and passage of the N454.3 billion budget within 33 days of careful scrutiny, and appealed for continued cooperation from the legislative arm of the government. Governor Radda said the passage of Assets Management, Katsina State Enterprise Development Agency, Katsina Irrigation Authority and other executive bills by the legislators in the last seven months was highly
Family Sets Up 22-man Burial Committee for Kokori Sylvester Idowu in Warri
although the military was getting a lot of support, it was unacceptable that one Simon Ekpa will sit in Finland and be causing confusion in Nigeria. “The Finnish government must stop him from doing it. If they say he’s their citizen, this is affecting another sovereign nation. And for whatever reason, you should call him to order, because I know they will not take it if it was the other way round or if he was in Nigeria causing problems in Finland,” Musa said. According to him, there are reports of individuals that covertly
Deputy Chairman (Political); John Odah – Deputy Chairman(Labour) and Kayode Komolafe as Deputy Chairman (Media/Civil Society). It also listed Elvis Asoro as Secretary; Fred Oghenesivbe (member); Alex Agwanwhor–NUPENG rep (member) Thompson Ogbodo– NUPENG rep (member); Innocent Iyere–NUPENG rep (member) and Johnson Okoro (member). Others members included: Ese Agiri; Felix Ayanruoh; Ebenezer Adurokiya; Ken Omamogho; Elvis Erute; Tobore Ovumedia; Barry Awoda; Frank Kokori Jnr.; Efe Kokori; Kive Kokori and Onome Kokori.
“The committee is charged with the responsibility of liaising with the federal and state governments, labour, corporate organisations, individuals and other stakeholders with the aim of organising a befitting burial for this distinguished elder statesman. “In due course, the committee will make public, further details regarding the burial, including a date after the required consultations. “We thank the committee members who despite their very busy schedules have graciously agreed to do this as a mark of honour for a great Nigerian patriot and hero," it stated.
commendable. He, however, said the state's security challenges orchestrated by bandits have reduced by 60 per cent,
and that efforts were ongoing to halt such challenges in Danmusa, Kankara and other affected areas in the state.
Gaza War Will Leave Everyone a Loser, Says Palestinian Ambassador
Michael Olugbode in Abuja
The Palestinian Ambassador to Nigeria, Abdullah Shawesh yesterday said the war on Gaza by the Israeli forces should be immediately put to an end as no one will emerge winner eventually. Addressing journalists in Abuja at a forum organised by the Nigerian Supreme Council for Islamic Affairs (NSCIA), he noted that it would be a mistake to take the ongoing hostilities as an Israeli/Palestinian problem, insisting that the entire world is interconnected and what affect one affects all. “In this war all of us are losers, but Israel is a bigger loser,” he maintained. Shawesh insisted that the Palestine’s position deserved to be heard, stressing that it was not desperate for support. He said: “We are not looking for support but we are seeking to be listened to. We are owed the moral duty of being listened to. No one
is safe until everyone is safe. The international community should ensure peace returns to Gaza and Palestine. “All resolutions at the UN concerning Palestine should be enforced. And no more lip service should be paid to decisions taken concerning Palestine.” On Israel being a bigger loser in the ongoing standoff, Shawesh said the original plan of Israel to exterminate Palestine was yet unachieved and can never be achieved. He added that since the start of the present hostilities, Israel had not been able to get any hostage released, noting that it is time for the Israeli forces to lay down their arms and come to the roundtable for a resolution of the age-long crisis. The NSCIA had always called for immediate stop of the siege on Gaza, insisting that the attack by Hamas on Israel was reactionary.
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THURSDAY, DECEMBER 21, 2023 • T H I S D AY
NEWS
end of the year dinner and housing award night...
L-R: Former Minister of Environment; Alhaji Suleiman Hassan; Lagos State Commissioner of Housing, Mr. Moruf Akinderu-Fatai and Convener, Africa Housing Awards 2023, Mr. Festus Adedayo, at the end of the year dinner and housing award night held in Abuja... recently
113 Generals Bow Out of Army as Defence Minister Assures of Prompt Payment of Pension Urges retirees to remain loyal to country, support democracy Appreciate God, Lagbaja enjoins exiting senior officers
Kingsley Nwezeh in Abuja After 35 years of service to the nation, 69 Generals, 44 Brigadier Generals have bowed out of the Nigerian Army. Speaking at a regimental dinner night organised in honour of newly
retired and retiring Nigerian Army senior officers at the Armed Forces Officers’ Mess Asokoro, Abuja, Minister of Defence, Badaru Abubarkar, hailed the officers for their sacrifices and unwavering commitment to the nation’s stability and assured of the prompt payment of their
pension. At the event, one general, one lieutenant general, 67 major generals and 44 brigadier generals bowed out of the Nigerian Army, "after meritorious and dedicated service without blemish to the nation". The minister urged the retirees
FG Orders Probe of Allegations of Kidney Racketeering in FCT Onyebuchi Ezigbo in Abuja
Amidst public concerns over reports of booming kidney market in Abuja, the Federal Capital Territory (FCT), the federal government said it has directed the Medical and Dental Council of Nigeria (MDCN) to investigate the allegation of illicit trading on human organs. It said that the Council is looking into allegations leveled against medical practitioners engaged in such activities. A statement signed by Director, Media & Public Relations in the Federal Ministry of Health, Patricia Deworitshe, warned that anyone who failed to comply with the provisions of the law on kidney transplant is liable on conviction or a fine of N1,000,000 or imprisonment of not less than two years or both. The statement read: "The attention of the Federal Ministry of Health has been drawn to a report emanating from the Daily Trust Newspaper titled “Inside Abuja’s Kidney Market where the Rich prey on the Poor in the FCT. "The Ministry has noted with great concern and condemns in totality such barbaric inhuman criminal practice of kidney trafficking revealed in that report. "We acknowledge the pain of those affected and wish to let the public know that the National Health Act (NHA) 2014 Sections 51-56, prohibit such illegality. Persons who contravene or fail to comply with the provisions of the section commit an offence and is liable on conviction or a fine of N1,000,000 or imprisonment of not less than
two years or both. "It is pertinent to note that both the seller and the buyers of this illegal trade as well as the medical practitioners and facilities where this criminal act is being performed will face the full wrath of the law". The ministry said that donation of kidneys should be on informed consent of the donor and done based on medical advice with privileged information about the process in order to save lives. The statement said that the Medical and Dental Council of Nigeria
(MDCN) is looking into allegations leveled against medical practitioners engaged in such activities. "While the Federal Ministry of Health remains committed to improving regulatory standards and practices to enhance effective and efficient healthcare system in line with the renewed hope agenda, the public is hereby advised not to engage in such illegal practices and should contact the Federal Ministry of Health on 08033228978 for any information that can lead to the arrest of such perpetrators," it said.
to take a break and reflect appropriately on the next phase of life, assuring them of government's commitment to prompt payment of pensions of retired personnel. The minister saluted the retirees and expressed the nation's gratitude for their exemplary service, love for country and commended their spouses for their perseverance. He charged members of the armed forces to remain loyal and sustain the culture of supporting democracy in Nigeria and across the shores adding that the disposition of the Armed Forces towards democracy had made it a shining example in West Africa and an influencer in the comity of nations. The minister noted that the occasion provided Nigerian Army the opportunity to reflect on its service and profound dedication as demonstrated by the retired and retiring senior officers, adding that experiences and skills garnered while in service and respect for diversity, which has been their working principles throughout their career will provide them a veritable platform as they exit the
service. He noted that the federal government will continue to do all within its reach to improve the well- being of serving and retired personnel. Speaking at the occasion, the Chief of Army Staff (COAS), Lt Gen Taoreed Lagbaja, enjoined the retired senior officers to appreciate God and the Nigerian Army for a successful sojourn in the 'noble profession of arms' and attaining the point of meritorious disengagement from active service. The COAS congratulated and appreciated the wives and families of the retired senior officers for their patience and support, while holding the home front. Lagbaja expressed gratitude to President Bola Ahmed Tinubu, the National Assembly and Defence Minister Badaru Abubakar for their untiring support to the Nigerian Army. He reaffirmed the unalloyed loyalty of the NA to the president and the nation in the discharge of its constitutional roles in defending the territorial integrity of Nigeria.
Delivering the vote of thanks on behalf of retired generals, Maj Gen Victor Ezugwu thanked the COAS for the honour accorded them, pledging that they will remain good ambassadors of the Nigerian Army, even in retirement. Highlights of the event were the presentation of record of service certificates and souvenirs to the retired and retiring senior officers and a loyal toast to the President, Commander in Chief of the Armed Forces of Nigeria, President Bola Ahmed Tinubu. Dignitaries who graced the event include the Chairman Senate Committee on Army, Senator Abdulaziz Musa Yar’Adua, representatives of service chiefs and Inspector General of Police, immediate past Chief of Defence Staff, Gen Lucky Irabor (rtd), immediate past Chief of Army Staff, Lt Gen Faruk Yahaya (rtd) and Chief of Defence Intelligence, Maj Gen Parker Undiandeye. Others include heads of security agencies and the President Nigerian Army Officers' Wives Association (NAOWA) Mrs Mariya Lagbaja, amongst several others.
Shettima: FG's Resolve to Protect SMEs Remain Unshaken Inaugurates SMEDAN headquarters in Abuja
Deji Elumoye in Abuja Vice President Kashim Shettima has said the President Bola Tinubu-led administration would never shift ground in its determination to protect businesses in Nigeria. According to him, enterprises were not only the very bedrock of a society but also reflected the direction the government was heading and the speed with which it was doing so. Shettima who disclosed this yesterday while inaugurating the corporate headquarters of the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Abuja noted that the Tinubu administration was strategically focusing on job creation, capital
accessibility, economic growth, and poverty eradication to revamp the economy. “Allow me to emphasise the importance of this moment. There is no more fitting time than now to reinforce the protection of enterprises in Nigeria. These enterprises not only stand as the very bedrock of our society but also reflect the direction the government was headed and the velocity with which we do so. “This moment solidifies President Bola Tinubu's assurance to protect our enterprises. It resonates deeply within our economic revitalisation plan. “His focus on job creation, capital accessibility, economic growth, and poverty eradication forms the very
skeleton of our strategy to invigorate the economy. Inevitably, this path demands tough decisions, yet, they are essential to our success.” He recalled that he had inaugurated the National MSME Council ten days ago, saying it was just the beginning that set the stage for what was ahead. Explaining how President Tinubu intended to make sure businesses and other economic enterprises prosper in the country, the vice-president said, “Notably, our partnership with the Bank of Industry to unveil a N75 billion, 9% interest loan accessible to Nigerian MSMEs as of January 2024 is a pivotal stride. “This initiative is geared towards fostering a more conducive and
enabling business environment. “This government doesn't just boast some of the nation's finest talents; it champions those invested in ensuring our business owners have front-row seats in our journey towards progress. “Our goal is to cultivate an ecosystem, where Nigerian businesses become regular features in globally recognised publications such as Forbes, Bloomberg, and the Financial Times for the right reasons. “We are all well aware that Mr. President’s readiness to take action has never faltered, and what we are witnessing here is just a component of the strategies in place to create a future brimming with endless opportunities.”
Shettima congratulated the Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, and the leadership of SMEDAN, saying they had proven that they were ready to transform concepts into tangible actions. “This initiative renews hope for a critical segment of our entrepreneurial community, and highlights our sensitivity to the economic clock of the nation,” he added. Earlier, Uzoka-Anite, thanked the Vice President for his support to MSMEs in the country, saying the completion and commissioning of the new complex is a clear demonstration of the commitment of the Tinubu administration to the development of the MSME space.
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T H I S D AY • THURSDAY, DECEMBER 21, 2023
NEWS
Launch of book ‘Our PUNCH Years’...
L-R: Head, Corporate Communications, Polaris Bank, Mr. Rasheed Bolarinwa; Coordinating Editor, ‘Our PUNCH Years’, Mr. Lekan Otufodurin; President, Nigerian Guild of Editors, Mr Eze Anaba; a former Deputy Editor-In-Chief, PUNCH Nigeria Limited, Gbemiga Ogunleye; Chairman, PUNCH Nigeria Limited, Mrs. Angela Emuwa; Lagos State Commissioner for Information, Mr. Gbenga Omotoso; Managing Director/Editor-In-Chief, PUNCH Nigeria Photo: Elliot Ovadje Limited, Mr Adeyeye Joseph; and a former MD/EIC, PUNCH Nigeria Limited, Sir Ademola Osinubi, during the launch of the book ‘Our PUNCH Years’ in Lagos… yesterday.
Amosun: Oshiomhole Represented Destructive Threat to APC Before His Ouster
Adedayo Akinwale in Abuja
A former governor of Ogun state, Senator Ibikunle Amosun, has said a former National Chairman of the All Progressives Congress (APC), Senator Adams Oshiomhole, posed the biggest and most destructive threat to the existence of the party at the time he was removed from office. Amosun stated this in a statement yesterday while responding to Oshiomhole's outburst at the the public presentation of a book titled, "APC and Transition Politics", authored by a former National Vice Chairman, North-west, of the party, Dr. Salihu Lukman. Oshiomhole had described Amosun as disloyal to the party and one of the problems of the APC at the time, who sought to control him as party chairman. The former governor, however, described the statement credited to Oshiomhole at the event as ‘tales by moonlight’. Amosun stressed that his apparent struggle was not for
want of a proportional response to Oshiomhole's deliberate drivel, but because not only was his story fraught with lies, but also because he did not boast the requisite integrity to say the truth. Aside from that, he said it was not in his character to join issues with people he considered qualified enough to be referred to as both leaders of the party and Nigeria, to which he believed Oshiomhole belongs. "However, given his antecedents and penchant for careless and most times, baseless and unverified public statements, and also considering my duty to the country and the public in particular, it will be uncharitable if I fail to put the records straight. "What Senator Oshiomhole was alleged to have said, apart from being far from the truth, is a calculated attempt to present water while drinking wine. The Yoruba adage says, ‘If you let a mad man bury his mum the way it pleases him, he could roast her for a meal.’ At that point, the community is to blame for his choice.
"Indeed, listening to him yesterday (Tuesday), his utterances represent some inherent inadequacy, which he vented, not just at inauspicious times, but without basis and predicated only on lies to hoodwink the unsuspecting," he said. Amosun emphasised that it was not in doubt that he had participated fully in the formation and sustenance of the ruling party, he could boldly say that the party
under Oshiomhole conducted one of the worst primaries in the history of Nigeria’s contemporary politics. He said his leadership and ended up shopping for his own enemies, which led to his eventual removal as Chairman of APC. Also, who was also a senator, said Nigerians should not be in a hurry to forget the allegations that preceded the conduct of those primaries and Oshiomhole’s eventual
the political crisis in the state. The stakeholders, under the aegis of Rivers Elders and Leaders Forum, led by a former governor of the state, Rufus Ada-George, said the directives contravened the constitution of Nigeria, which the president swore to uphold at all times. They spoke with journalists in Port Harcourt, insisting, "The directives unilaterally suspended the constitution of the Federal Republic of Nigeria by virtue of an attempt to reverse a court order recognising Rt. Hon. Edison Ehie as the speaker and directing that the remainder of members of the House of Assembly constituted the quorum for legislative business. "That the directive also contravenes the hallowed doctrine and practice of separation of powers, particularly as it affects the responsibility of the judiciary.” The forum queried if Tinubu or the federal government had the power to overrule the decisions of courts of competent jurisdiction. It stated, "This portends executive rascality, which undermines our constitutional democracy, rule of law, and good governance. "The directives to the parties were one-sided in favour of Barr. Nyesom Wike, the Minister of the Federal Capital Territory, and at the detriment of the governor, Siminalayi Fubara, and the good people of Rivers State. "In the eyes of the law and due process, as evidenced by the Rivers State High Court decision, the Rt. Hon. Martins Amaewhule and his team have ceased to exist in the state House of Assembly, having
occasion to find solutions to our democratic and party challenges, would have cleared such mindset. "If he wanted to insult our leader, President Muhammadu Buhari, he could have come out boldly to do so. But his subtle attempt to pass snide remarks at him failed the simple test of loyalty because the former president also moved from his own party to merge with other like-minds to form the APC.
Northern Governors Delay Payment of N35,000 Monthly Wage Award Laleye Dipo in Minna
Chairman of the Nigeria Labour Congress (NLC) in Niger State, Abdulkhareem Lafene, has lamented that months after organised labour and the federal government agreed on the payment of N35,000 to work-
ers to cushion the effect of removal of petrol subsidy, civil servants in the northern states are yet to receive the award. Lafene said northern governors were yet to take a joint decision on the payment of the award, resulting in non payment in all the states of
Lamido: Tinubu Didn’t Broker Peace in Rivers, He Enhanced APC’s Fortunes the motions in suit filed against them by Fubara. Fubara had filed the matter before a State High Court in Isiokpo, registered in suit no. IHC/230/ CS/2023. The governor filed the suit against the Rivers State House of Assembly, (first Defendant); Speaker of the Rivers State House of Assembly, (second defendant); Deputy Speaker, Rivers State House of Assembly (third defendant); Clerk of the Rivers State House of Assembly, (fourth defendant); and Chief Judge of the State (fifth defendant), praying for an interim order of court to stop the lawmakers from impeaching him. The trial judge, Justice O. BenWhyte, during the previous sitting had barred the House of Assembly and the Chief Judge from impeaching Fubara, pending the determination of the motion on notice before it. At the resumed hearing yesterday, counsel to the House of Assembly, Ferdinand Orbih (SAN), informed the court that he had the instruction of his clients to withdraw the matter from court. Orbih said the decision was informed by the recent peace agreement the parties had with the president in Abuja. Counsel to the claimant, Fubara, Damian Okoro (SAN), told the court that he was yet to receive directives from his client to withdraw the matter. After hearing the parties’ arguments, the trial judge adjourned the matter till January 31, 2024 for report of alternative settlement. Meanwhile, stakeholders in Rivers State rejected Tinubu’s directives on
invitation by the Department of State Service (DSS) to clarify certain grave allegations. According to him, "If anyone was in doubt that Senator Oshiomhole posed the biggest and most destructive threat to the existence of the APC at that time, and the party’s best bet was to dispose of a canon folder that he was and unfortunately still is, his utterances and grandstanding yesterday at an
defected to another political party, and, therefore, cannot be reinstated and remunerated through the back door. "The directive to re-present the budget passed and signed into law is a clear attempt to ridicule and denigrate the office of the governor and the good people of Rivers State, including the judiciary." The forum "enjoined all Rivers people to rise up in this our moment of truth, to salvage the soul of Rivers State. Our fathers fought for the creation of Rivers State, we will stand to defend it."
US Group: Rivers People Must Resist Tinubu, Wike, APC
A group in the US, NADECO, advised the people of Rivers State to stand together against the influence of Wike, Tinubu, and APC. It also said the proposed peace agreement supervised by Tinubu should be resisted and rejected by the people, adding that Fubara must be made to serve the people of Rivers State and not the interests of Wike or Tinubu. NADECO said in a statement signed by its Publicity Secretary, Comrade David Adenakan, that the willingness of Fubara to engage Tinubu and APC raised concerns about his independence and the sincerity of PDP’s internal conflict resolution efforts. It urged Fubara to be cautious not to allow himself to be manipulated by Tinubu, and stressed that the agreement was one-sided, and left Fubara exposed to the plots of Wike, while strengthening his adversaries.
We’re Losing Faith in Tinubu's Presidency, Say Ijaw Youths
Ijaw Youth Council (IYC) Worldwide said it was losing confidence in the Tinubu administration because of his recent intervention in the Rivers crisis. IYC described the president’s intervention and its outcome as a rape on democracy as well an open hatred of the Ijaw. In a statement by its spokesman, Binebai Yerin Princewill, IYC commended Tinubu for heeding its call for intervention in the Rivers political crisis. However, the youth body expressed disappointment with the outcome of the meeting to reconcile Fubara and Wike, presided by the president. It alleged that the content of the peace document was skewed against Fubara. IYC stated, "While as a council, we are appreciating President Tinubu for his intervention, we are still wondering if it was an intervention or a move well planned and orchestrated to further undermine, humiliate and frustrate the governor of Rivers State, His Excellency, Sir Siminalaye Fubara. "We are completely backing the position of our father, Sen. Dr. Edwin Kiagbodo Clark, leader of PANDEF (Pan-Niger Delta Forum), by reemphasising that the said intervention of Tinubu, who is supposed to play a fatherly role as president of the country on this matter, has clearly demonstrated his unbridled hatred against the Ijaws, with his biased eight -point resolutions.
the northern part of the country. He said the Niger state Governor, Umaru Bago, at a meeting with organised labour disclosed the plan by the northern governors to take a common stand on the issue so that: "it will not be Kano paying a different amount and Jigawa paying a different amount and Niger paying a different amount which may cause confusion". "The national crisis is almost resolved because what the labour agitated for are being addressed. People have been arrested and are being prosecuted. "Government is doing what it is supposed to do. Those that are sacked are being recalled, they are
receiving their letters," Lafene said. But he added that there are other issues in the agreement which the federal government must address before the end of December this year. The Niger State NLC chairman commenting on the issue of alleged dress code announced by Bago said the directive was illegal and cannot stand. "I will be the first person to go against the law because in the first place there is no law," he added. He said if the governor wants a dress code for workers, he should sponsor a bill to the State House of Assembly. Bago has however clarified his statement claiming he was quoted out of context.
UTME: JAMB Denies Increment in Exam Registration Fee
Kuni Tyessi in Abuja
The Joint Admissions and Matriculation Board, (JAMB) has refuted reports alleging that it increased the registration fee for its Unified Tertiary Matriculation Examination (UTME). JAMB’s Public Communication Advisor, Dr. Fabian Benjamin said the cost of the board examination fee was low to ensure that candidates are not overburdened, explaining that the cost of UTME remains N3,500. “The attention of the Joint Admissions and Matriculation Board (JAMB) has been drawn to several publications in recent times insinuating that the board has increased its examination registration fee. “This is far from the truth as the cost of obtaining the board’s UTME application documents remains N3,500, which has been the cost of its application documents since it was brought down from N5,000 in 2018. “Therefore, the board wishes to state that the cost of the application document price has not been increased in spite of the prevailing
economic reality in the country which has also affected the cost of the board’s operations,” he said. Consequently, Benjamin stated that the board wishes to assure the general public that it had been doing all within its powers to ensure that candidates are not overburdened in any way. “One of these measures is to deliberately keep cost low, hence its decision to make available its Use of English reading text free of charge through a QR code to ensure that the increase in cost of production is not passed to candidates. “Therefore, all UTME candidates would access the reading text free of charge through multiple channels, which include their profiles, e-mail addresses, notification slips and the board’s website,” he stressed. However, he said that what is being perceived in some quarters as an increment in its fees was the fallout of its cashless policy in which all fees payable by candidates to Computer-based Test (CBT) centres had been consolidated and are paid along with application fees.
thursday december 21, 2023 • T H i s d ay
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NEWS
SPECIAL CHRISTMAS CAROL FOR PASTOR AJAYEOBA…
L-R: Chairman, Joint Christian Management Committee Chapel of Christ The Redeemer, Yaba College of Technology (YCT), Pastor Olusola Akeredelu; Special Guest/Rector, Abraham Adesanya Polytechnic Ijebu-Igbo, Ogun State, Dr. Mobolaji Onasanya, his wife, Dr Elizabeth Onasanya; College Chaplain/Cantor, Very Rev. Olumuyiwa Awe; acting Rector, YCT, Dr. Peter Okolie Nwabueze; Celebrant/ Chairman, YCT, Chapel Building Committee, Pastor Benjamin Adewole Ajayeoba, and his Wife, Pastor Mrs Victoria Ajayeoba, during the Chapel of Christ The Redeemer, YCT, Special Christmas Carol to mark the retirement of Pastor Ajayeoba in Lagos…yesterday
Court Shut as Lawyers Protest Kidnap of High Court Judge in A’Ibom
Okon Bassey in Uyo
The State High Court, Oron Local Council Area, Akwa Ibom State was yesterday shut due to the kidnap of the High Court judge, Hon. Justice Joy Unwana and the murder of her police orderly, Inspector ThankGod Edet by gunmen. Justice Unwana was òn
Monday kidnapped alongside his driver, Idorenyin Moses while going home after the court assignment on the Okobo-Esuk Inwang-Ndon Ebom road. The Oron branch of the Nigeria Bar Association (NBA) yesterday condemned the act and called on the state government as well as the
Christmas: Fubara Approves N100k for Civil Servants
Blessing Ibunge in Port Harcourt
Amidst the challenges and distractions in the past weeks over political crisis in Rivers State, Governor Siminalayi Fubara has approved the sum of N100,000 as a Christmas bonus for civil servants in the state. The governor, who announced this yesterday, in a statement signed by the Commissioner for Information
and Communication, Joe Johnson, said the beneficiaries must be civil servants on the State payroll. Fubara added that the approval for immediate implementation to enable the civil servants to have a wonderful yuletide celebration. The governor in his recent statement, had assured that Rivers people will enjoy the dividend of democracy under his administration.
security agencies to investigate the matter speedily. The branch NBA tasked security operatives tò ensure
that his Lordship and her driver regain freedom as soon as possible. Chairman of NBA, Barr
Torosco Eyene, who addressed newsmen outside the court premises expressed worry that the Judge was kidnapped
after a long family court session where she made far reaching orders in favour of numerous abandoned children.
House Urges NCC to Abolish Unwarranted Charges
Juliet Akoje in Abuja
The House of Representatives yesterday urged the Nigerian Communications Commission (NCC) to ensure that registered network providers give quality service to Nigerians. The lawmakers also urged
the network providers to stop unwarranted charges on services not rendered, following a motion by Hon. Emmanuel UkpongUdo at plenary. Ukpong-Udo noted that despite the increasing and remarkable patronage of telecommunications services by
Nigerians, including low-income earners, rural dwellers and the vulnerable in the society, communication services provided by network carriers were not proportionate with the interest expressed by Nigerians. “Nigerians pay charges on calls with low voice quality
arising from congestions, calls freezing and fluctuating network services. “Nigerians lose valuable business hours and finances due to poor service delivery by these network service providers whilst enriching the service providers to their detriment,” he lamented.
Navy Arrests 14 Suspects, Impound Vessel for Illegal Fishing in A’Ibom Bassey Inyang in Calabar
Nigerian Navy Forward Operating Base (FOB) at Ibaka in Mbo Local Government Area has arrested 14 suspects and impound vessel for illegal fishing in the state. Commanding Officer of the
base, Capt. Uche Aneke, made the disclosure to journalists yesterday, while handing over four Ghananians and 10 Nigerians suspects, and their vessel to the Federal Department of fisheries and Aquaculture in Calabar, Cross River.
Aneke said that the suspects were arrested within 5 nautical miles in Calabar Channel on Monday, November 27, for engaging in illegal trawling activities. He said that the vessel was seized within the Calabar River Channel, where they were
actively engaged in illegal trawling within the channel ,which is prohibited by the law. “Sequel to the interception and arrest of the fishing trawler MFT LAMU 1, with registration number LA799, on Monday, November 27, for illegal trawling,” he said.
Climate Change: UNIZIK, Groups Train 2,000 Environment Protection Ambassadors
The training of 2,000 participants, Chim Consult, Mr Amechi Akorah, said the training would provide EFCC Releases ex-Minister, David-ChyddyElekeinAwka which commenced in Awka, is said the primary objective of the participants with necessary Centre for Environmental in partnership with Nivi Chim training is to produce necessary knowledge and skills on waste Olu Agunloye, on Bail The Impact Analysis and Laboratory Consult, Chicason Group, Carbon manpower to drive the protection to wealth entrepreneurship, to
The Economic and Financial Crimes Commission has released a former Minister of Power and Steel, and former Minister of State for Defence, Olu Agunloye on bail. The former minister was declared wanted by the anti-graft agency about a week ago via a statement. However, Agunloye reported at the EFCC office on his own volition on December 13, 2023 and was detained over alleged official corruption and forgery to the tune of $6.1 billion in connection with the Mambilla Power Project.
But the anti-graft agency was said to have released Agunloye to a Senior Advocate of Nigeria, Adeola Adedipe, around 3:30p.m. The spokesperson for the EFCC, Dele Oyewale, confirmed the exminister’s release . “Yes, you’re right, Mr. Agunloye has been released by the commission,” Oyewale confirmed. Nobel Laureate, Professor Wole Soyinka, had faulted the EFCC over the detention of Agunloye, saying it is unjust and total contempt of sense and justice.
of the environment through effective waste management. Akorah, who was the Managing Director of Anambra Waste Management Authority,
create awareness on numerous opportunities in building careers and generating wealth through caring and protecting the environment.
Services, Nnamdi Azikiwe University, Awka ,has commenced the third phase of special training workshop on waste management, environment and entrepreneurship.
Africa and other international collaborators, and would last for 12 months. Speaking , the Managing Director and Chief Executive Officer of Nivi
Ibrahim Oyewale in Lokoja
when he received in audience Civil Society Organisations (CSOs) combating the threat posed by GBV in Kogi State. The CSOs, who were led by Challenged Parenthood Initiative (CPI) and Kogi Women Constituency Lead, paid the advocacy visit alongside Women Advocates Research and
Documentation Centre (WARDC) and the Kogi State branch of the International Federation of Women Lawyers (FIDA) while the African Women Development Fund (AWDF) provided funding for the visit. The coalition had, through its leader, the Executive Director of CPI, Ms. Eunice Abimbola
Agbogun, advocated the establishment of a designated court for GBV cases but was told through the relevant heads of the respective directorates in the High Court of Justice that all courts saddled with the responsibilities of discharging such cases are at their best in line with the philosophy of the council of judges of the state.
his principal, Oluwarotimi Akeredolu who recently embarked on another medical vacation. Specifically, Ajisafe, who was featured on a radio programme in the state titled ‘Heart of the Matter’ alleged that indications
have shown that Aiyedatiwa was planning to reshuffle the State Executive Council to favour his supporters in the government. The former Coordinator of the National Social Investment Programme, N-Power in Ondo State claimed that he heard it on
good authority that the acting Governor would redeploy the Secretary to the State Government (SSG), Princess Oladunni Odu to the Ministry of Commerce while the Commissioner for Finance, Mr Wale Akinterinwa would be posted to Culture and Tourism.
CJ: Kogi Courts Active in Curbing Menace of Gender Based Violence
The Chief Judge of Kogi State, Justice Josiah Majebi, has disclosed that the menace of Gender Based Violence (GBV) in the state is receiving serious attention in all categories of courts with jurisdiction over the matter. Justice Majebi made this known
Police Kill Two Notorious Kidnappers in Rivers APC Chieftain Accuses Aiyedatiwa of Plans to Reshuffle Cabinet Blessing Ibunge inPort Harcourt
Operatives of the Rivers State Police Command have killed two notorious kidnappers terrorising the Emuoha Local Government Area axis of the state. The State Police Public Relations Officer, SP Grace Iringe-Koko, who disclosed this yesterday, said the suspects were killed during a gun battle with the operatives in a forest in the area. The Police spokesperson also revealed that four persons blindfolded and sighted at the kidnappers den, during search were rescued after spending days in captivity, adding that
one of the killed suspects, Sunday Amadi, is a leader of the gang, who had been in a wanted list of the Chairman of the LGA on N2million bounty. One of the victims, a commercial driver, revealed that “I was on one of my routine trips back to Port Harcourt when I noticed an obstruction on the road caused by a huge tree trunk blocking the road. “I was driving a Sienna, and an Audi car was in front of me and I was contemplating reversing, when some men emerged from the bush and fired bullets at the tyres of my vehicle and that of the Audi.
Fidelis David in Akure
A chieftain of All Progressives Congress (APC) in Ondo State, Mr. Sola Ajisafe, yesterday accused the acting Governor of the state, Lucky Aiyedatiwa of allegedly planning to undermine
Oil & Gas Engineer Wins First House in Glo Promo in Lagos
A Lagos-based oil and gas engineer, Mr. Moses Tsado, yesterday emerged the first winner of a premium house in Globacom’s on-going Festival of Joy consumer-reward promotion targeted at High Networth customers of the digital solutions company. 57-year-old Tsado, a director
of Antan Producing Limited, emerged in the first draw held in Lagos on Tuesday. He received the keys to the house from Oba Ojomu of Lakowe, Oba Abdulhakkem Olusegun Ojomu, brand influencer, Nnenna Ekere, and Glo officials at its location in Ajah, Lagos, yesterday.. The indigene of Niger State,
who narrated his experience, said he was very excited he got a call from Glo officials but was skeptical in view of rampant scams in the country. According to him, “I got a call from a staff member of Globacom telling me that I won a house in the ongoing promo and I was very excited about it, but my instinct
prompted me to crosscheck so that I will not fall into the hands of scammers. Immediately, I called a good friend who works in Globacom and he assured me that all was well. It was after the confirmation that I drove down to meet the officials of the company and the rest is history. To God be the glory”.
thursday december 21, 2023 • T H I S D AY
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NEWSxtra
WINNER OF INVESTIGATIVE REPORTING AWARD…
Managing Editor, Northern Operation, The NATION Newspapers, Yusuf Alli presents (Print Category) award to Omolabake Fasogbon of THISDAY Newspapers(right) at the 18th Wole Soyinka Awards for Investigative Reporting(WSAIR) in Abuja…recently
Cross Border Insecurity, Banditry Causing Congestion in FCT Schools Olawale Ajimotokan in Abuja
The Federal Capital Territory (FCT) Administration has ascribed the overcrowding across all schools in the six Area Councils to banditry and the alarming security situation in some of the neighbouring states. The Mandate Secretary of the Education Secretariat, FCTA,
Dr Danlami Hayyo, made the allusion during the Secretariat’s 17th end of the year media briefing yesterday in Abuja. He said the crisis, which is protracted in next door Niger State and some other northern states is affecting the quality of education in the FCT because of the pressure on teachers. “Part of the challenges just like you have stated about
Groups Train Male Motivators on Gender Mainstreaming in Sokoto Onuminya Innocent in Sokoto
The Nutrition International, in collaboration with SWODEN and FAcE-PaM, has concluded training of male motivators as part of it gender responsive Behavioral Change Intervention (BCI), strategy project in Sokoto State. One hundred male motivators comprising 20 participants drawn from across the five scale up LGAs of intervention in Sokoto State attended the training. The local governments are Illela, Sokoto North, Kware, Dange Shuni and Wamakko.
Addressing the male volunteers of the BCI project in the course of the training, the State Nutrition International Coordinator, Mr. Oyedeji Ayobami, highlighted the importance of male involvement and husband’s in project deliverables as they are influencer that create impacts. Ayobami said that “the involvement and participation of husband/ male volunteers are boosters to project implementation reducing barriers to access of Iron Folic Acid (IFA), Zinc/Lo-ORS (Low Osmolarity Oral Rehydration Salt Solution) and VAS.”
NEDC MD, Alkali, Bags Exemplary Leadership Award Segun Awofadeji in Bauchi
As part of activities to mark the end of 2023 and efforts of stakeholders in rebuilding Northeastern states after insurgency, the North East Elders and Youths Peoples Forum (NEEYPF) has given the award of exemplary leadership to Managing Director and Chief Executive Officer of North East Development Commission (NEDC)Mr. Mohammed Goni Alkali. Addressing a press conference in Chartwell Hotel, Bauchi,
yesterday, the Chairman NEEYPF, Mr. Salihu Magaji, said that the NEDC’s managing director was recognised “for his outstanding contributions in strategic and developmental peace-building process and action plans in the North-east region.” Magaji said that rewarding the NEDC’s boss for outstanding contributions to peace development would encourage other leaders to perform their best in ensuring peace and development while discharging their responsibilities.
Firm Announces Frank Edoho Brand Ambassador Diplomat Oral Care, a premier oral care solution, has named Frank Edoho as its brand ambassador. Edoho is a broadcaster and television host, noted for a popular television programme, “Who Wants To Be A Millionaire?” Diplomat Oral Care is a range of premier oral care solution that goes beyond just freshening breath, but also contributes to the overall health and vitality of the teeth. The unveiling of Edoho, which took place in Lagos, had in attendance distributors of
Diplomat Oral Care products, customers, media personalities, and prominent figures. Speaking, Edoho recalled how the CEO of the company, Grape Tree International Limited, Cyril Okoye, insisted on his choice as the brand ambassador over other shortlisted candidates, and expressed his deepest appreciation for that gesture. “The same way you accorded me that respect while looking for who will fit that role, I will make sure that my number one priority is to sell our product,” he said.
PTA teachers, because of the quality of education in FCT and maybe the security situation of some neighborhood states, that makes FCT schools to become congested.
“So many parents run into the FCT from part of Kaduna, Kwara, Niger, Nasarawa, Kogi, Katsina, Zamfara, Sokoto, Kebbi, Borno, Yobe because of banditry.
“So, this makes FCT schools to be congested, and whenever there is congestion, when you divide the number of staff and the number of student, there must be an unequal
distribution of the teachers in the FCT. That’s why you have seen a lot of PTA teachers because schools are supposed to be managed and governed with community interventions.”
Adeleke Approves N1.6bn Bond Certificates for Osun Retirees
Yinka Kolawole in Osogbo
The Osun State Governor, Senator Ademola Adeleke, has approved the release and distribution of bond certificates worth N1,625,332,835:75 to retirees under the contributory pension scheme.
The Permanent Secretary for Local Government Staff Pension Bureau, Mr. Ibrahim Akibu, made this known in a statement in Osogbo on Wednesday. According to him, the beneficiaries cut across the primary schools and local
government among others. The presentation ceremony will hold today, Thursday, December 21, 2023, at the Local Government Service Commission’s building. Akibu stated that the presentation of the bond certificates is “a continuation
of the commitment of the state government to workers’ welfare, in and out of service. “This is another phase in fulfillment of Governor Adeleke’s open resolve to clear backlogs of salaries, pension and emoluments issues within the public service.”
Speaking in Abuja yesterday at the decoration of newly promoted Assistant Commandants-General and Commandants of Corps, who were recently promoted by the federal government, Audi lamented that some personnel of the Corps were not promoted in 13 years when he assumed leadership of the paramilitary,
but noted that he has been able to halt the ugly trend. He said: “Before my coming on board, it is on record that stagnation which cuts across all ranks in the Service has dampened the staff morale, heightened indiscipline and has also led to loss of confidence in the system, borne out of perceived injustice and unregulated pattern
of promotion. “In addition, there were no set standards for measuring performance and career progression in the Corps. Therefore, I decided to take the bull by the horns to correct this anomaly by ensuring regular promotions to restore staff confidence and boost their morale at the lowest ebb.
Officer Remaining on a Rank for 10 Years is Great Injustice
Michael Olugbode in Abuja
The Commandant-General of the Nigeria Security and Civil Defence Corps (NSCDC), Dr. Ahmed Audi, has described as unfair and great injustice for an officer to remain stagnant on a rank without promotion for 10 years.
Ekiti to Introduce Land Use Charges as Oyebanji Plans Wage Award for Workers Gbenga Sodeinde inAdoEkiti
In his drive to boost the economy of the state through improved internally generated revenue, the Ekiti State Governor, Mr. Biodun Oyebanji, has announced his government’s intention to commence collection of land use
charges in the state. Governor Oyebanji, who made this known last Monday during the 2023 Carols and Lessons Service held at the Obafemi Awolowo Civic and Convention Centre in Ado Ekiti, said the property tax would not in any way be a serious burden on the residents of the state,
as it is going to be progressive. He called for cooperation and collaboration of all stakeholders on the scheme in order for the government to continue meeting its obligation to the citizens, adding that the property tax is going to be progressive based on the type and cost of property of an individual.
According to him, “I just want to plead with the Ekiti people that by next year, we are going to start with land use charges in the state, because if the government must meet our obligations, we must raise money which I am sure will not bring any burden to anyone.
Ondo Varsity Teaching Hospital Denies Looting ICU Equipment
Fidelis David in Akure
The management of Ondo State University of Medical Sciences Teaching Hospital (UNIMEDTH) yesterday denied report that the Intensive Care Unit (ICU)
equipment donated by the Redeemed Christian Church of God (RCCG) had been looted. The Chief Medical Director (CMD) of UNIMEDTH, Dr. Oluwole Ige, stated this while speaking at a press conference and media tour of
the facility, which was carried out to confirm the physical presence of all the equipment at the various designated point of usage, at the institution’s Medical Village on Laje Road in Ondo town. Ige, who was represented
by the Chairman of the Medical Advisory Committee (CMAC), Michael Gbala, stated that all the pieces of equipment are intact and at optimal use at the various points of service within the hospital.
Obaseki Commences Construction of 20km Iyekogba Road Adibe EmenyonuinBeninCity
The Edo State Governor, Mr. Godwin Obaseki yesterday kickstarted the construction of the 20km Iyekogba Road, Benin City, noting that the project will open up and bring further development to over 33 communities within the axis.
The governor was accompanied by the Secretary to Edo State Government, Osarodion Ogie, Chief of Staff to the Governor, Dr. Osaigbovo Iyoha, as well as serving commissioners and other top government functionaries. “This afternoon, we are here to fulfil the promise made a few
years ago during my first visit. I was here and shocked as to why government abandoned a valuable area like Iyekogba. “The historical importance of this route and road to the success of the great Benin Empire can’t be over-emphasised. “We have seen how we have
been struggling to cope with the influx of people into Edo state as we have stopped planning for many years. What we have now is a city planned for half a million people, now containing over 2.5 million people and it has been putting pressure on this axis of the city.
Court Remands 23-year-old Boy for Killing His Father in Kwara
Hammed Shittu in Ilorin
A 23 -year-old boy, Mr. Saidi Musa Elemosho, has allegedly killed his father Chief Musa Adeyi, the Elemosho of Share in Ifelodun Local Government Area of Kwara State, with a machete.
The defendant (Saidi) was dragged before a Magistrate Court in Ilorin yesterday for the offence of culpable homicide. The First Information Report (FIR) revealed Saidi’s claim that his father was cursing him without any reason while sitting in the sitting room.
Saidi reportedly got annoyed as a result of his father’s unpleasant words and attacked him with a cutlass cutting him on the head, hitting him severally till he died, while he escaped to a mountain in Share. The police prosecutor, Sergeant Abdullah Sanni,
informed the court that the matter is not ordinarily bailable considering the fact that it is culpable homicide, urging the court to consider the motion exparte attached to the FIR and order the defendant to be remanded in the correctional facility centre.
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GamingWeek
Thursday, DECEMBER 21, 2023 • T H I S D AY
Edited by Nseobong Okon-Ekong | ikotibok@gmail.com | Tel: 08114495324
Boladuro: It’s Challenging Regulating Gaming Operators TR
UT H
& RE A S O
N
The Director-General of the Oyo State Gaming Board, Olajide Boladuro, fields questions from Iyke Bede on the challenges and achievements of his organisation Kindly give an overview, from the board’s perspective, of the growth of the gaming and lottery sector in Oyo. ell, sports betting in particular. I remember when I came in in 2019, we had about 20-something operators. Now, we’re going to about 57 various operators in different categories. Sports betting has really grown in Oyo State. Our governor, His Excellency Seyi Makinde, has created an enabling environment holistically for businesses to thrive not only in the gaming lottery sector but in other sectors as well. So that has invited a lot of operators to do business with us in Oyo State. We make sure that they have a very good platform for them to be able to do their business when they come in. We give a lot of moratorium, a lot of time for them to acclimatise themselves with the state. So I think they like the way that we approach them. That’s one of the reasons why the new operators and even the old ones in other states want to come to Oyo State to do business.
W
What are some of the strategies in place to ensure efficient revenue collection? As you know, we didn’t have
Boladuro
a platform where we plug into their system, where they make payments based on a category. We have different categories. Like sports betting, for retail, we have the big ones, per the number of shops that they have, that’s how we categorise it. And that has helped us until now where we have a consultant on board that is going to be plugging into their systems so that the state can generate revenue at the actual rates from the business that they do. So it’s a win-win situation for both the state and the operators, in the sense that we don’t overcharge them for the operation that they have not done, and they don’t underpay the state. So that is one of the ways that we have streamlined revenue collection in the sports betting arena. Can you give an insight into some of these innovations in tax revenue collection? So, tech for us, like you were listening to clearly during the interactive forum, a lot of operators now are leaning towards online. Retail is kind of slowing down, even though people like the oneon-one interaction when placing a bet. I mean, our citizens here, not everybody knows how to use the internet effectively, plus data cost and all those things. The way we
As European Court of Justice Delivers Verdict on European Super League Today
Davidson Abraham writes that the controversies and legal battle overshadowing the emergence of the European Super League goes beyond the verdict expected from the European Court of Justice today, December 21, 2023, as its impact on sports betting would be far-reaching and complex The European Super League (ESL), a proposed closed competition for elite football clubs, announced in April 2021, aimed to ensure guaranteed participation and financial benefits for prestigious teams. However, it encountered widespread opposition from fans, governing bodies, and players for potentially harming domestic leagues, prioritising financial gain over merit, and widening wealth gaps in football. The ESL faced intense backlash and collapsed within days of its announcement due to the withdrawal of founding clubs. Although the initial proposal collapsed, debates persisted on complex issues like financial distribution, competitive balance, and the future of European football. The ESL’s “founding members” included prominent clubs from Spain (Real Madrid, Barcelona, Atlético Madrid), Italy (AC Milan, Inter Milan, Juventus), England (Arsenal, Chelsea, Liverpool,
Manchester City, Manchester United, Tottenham Hotspur), France (Paris Saint-Germain), and Germany (Bayern Munich). These clubs were at the centre of the proposal, sparking widespread controversy and opposition from various stakeholders within the football community. The proposed European Super League (ESL) featured a closed league structure comprising 20 elite European clubs. Of these, 15 were designated as “founding members,” securing guaranteed participation, while the remaining five spots were reserved for annual qualifiers based on performance. The league adopted a format with two groups of 10 teams, engaging in home and away fixtures within their respective groups. Following the group stage, the top eight teams from each group progressed to a single-elimination knockout tournament, culminating in a final
match. Notably, midweek matches were scheduled to take place independently of domestic league schedules, ensuring a maximum of 18 matches per season for each team, encompassing nine in the group stage and the potential for nine more in the knockout stage. The proposed European Super League (ESL) aimed at a projected annual revenue exceeding €3.5 billion, offering founding clubs an upfront payment of €350 million each, coupled with guaranteed shares from the central pot. Boasting lucrative broadcasting deals and global sponsorship opportunities, midweek fixtures were The proposed European Super League (ESL) aimed at a projected annual revenue exceeding €3.5 billion, offering founding clubs an upfront payment of €350 million each, coupled with guaranteed shares from the central pot. Boasting lucrative broadcasting
deals and global sponsorship opportunities, midweek fixtures were strategically positioned to attract top-tier broadcasters and major sponsors, promising financial windfalls. The ESL’s structure also promised enhanced financial stability to participating clubs. The guaranteed income would enable long-term security, empowering clubs to manage debt and invest in infrastructure, training facilities, and player development. Additionally, the financial security would facilitate attracting and retaining top talents through higher wages and signing fees, reducing dependence on the unpredictable nature of domestic league performance. With a commitment of €3.25 billion, JPMorgan Chase played a pivotal role in financing the league’s launch and operations.
ADVISORY: +18 PERSONS UNDER 18 MUST NOT PARTICIPATE IN BETTING, GAMING OR LOTTERY ACTIVITY
have been able to do that is by letting the companies know that if you are in our states, you can’t say you go and got a licence from Abuja and say you want to perform here, even though we are short-handed with some of the online companies. Overall, would you say they’ve been collaborative with the board? For the most part, yes. For the most part, we have 80 per cent compliance, which is not bad at all. We’re just hoping that the rest of them can come on board because they’re doing business in our state. That means it is only right for you to do your obligation because we not only licence and regulate just for IGR alone, we do it just for things to be smoother for our citizens as well, because if a punter stakes with an operator that is not licenced by us and something happens, how do we mediate? How do we try to proceed? If we don’t know you, we cannot track you or do the right thing by either the operator or the punter. This is why we want to continue to tell our operators who are not licensed with us to do the right thing so that everybody can be on the same page. Eighty per cent compliance is quite high, but with that 20 per cent left, how does the board deal with tax evasion? Honestly, it’s a tough challenge. We write letters. For somebody that is in your air space, and the state does not have the technology to block their IPs and whatnot? There’s almost little you can do other than file lawsuits and write them letters and try to engage them and try to use the carrot approach to the best of our ability. But I’m sure we’ve had some success with that as well. We have written to some companies and they felt the need to say, “Oh, this is wrong.” And they came on board, and they’re doing the right thing, and till today, they’re still with us, and they’re doing the right thing. Is there any point where you had to enforce these regulations? They’re in our online space. It’s tough to enforce compliance on online business. The only way
that we checkmate them is that they cannot advertise on our airwaves because all the radio stations, TV stations, print media, and online media already know within the state that the state will sanction them. If you ever advertise a company that doesn’t show you proof of an Oyo State Gaming and Lottery license. That’s one of the ways we used to checkmate them. They can be on the airwaves but they cannot advertise in the state. How has the board approached responsible gambling? Responsible gambling for us is a major thing. Actually, It’s one of the cardinal points of His Excellency. Under 18 should not be gambling. We go out to betting shops. I will say we have a robust task force that goes to the betting houses to make sure that that is not happening. We do community outreach with a lot of advocacy with parents and guardians, but again, the only place we fall short is online. We cannot control if a child picks up their phone now, and somebody that is under 18 starts using their phone to bet. But we do awareness on the radio, on TV, and in print and online media to let them know that it’s not allowed and for the retail ones, we make sure that we are enforcing them. There are hefty fines that we impose if we ever find somebody who is under the age of 18 in your betting shop Are there any significant challenges the board faces? There are always challenges. You cannot be 100 per cent. As far as the challenges that we’re facing within, from the operators, are mainly online. We are hoping to expand our operations as well, that’s within our government, to have a bigger office space, more vehicles, more personnel to be able to do our job effectively. Then we had a law that was not very robust. We have since worked on that. An amendment has been sent to the State Assembly. I’m sure once that is done, we’ll be good to go.
GAMINGWEEK TEAM Nseobong Okon-Ekong ikotibok@gmail.com | 08114495324 Iyke Bede ikennabede@gmail.com | 0703 044 7714 Akeem Lasisi lasaisai@yahoo.com | 08023687884 Vanessa Obioha vaysylver@gmail.com | 08069838305 Davidson Abraham davisiano.adm@gmail.com | +971 56 744 6013
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T H I S D AY • THURSDAY, DECEMBER 21, 2023
THURSdaysports
Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com
0811 181 3083 SMS ONLY
Nigerian Eduwo Helps Club Africain Stop Rivers Utd in Tunisia
Duro Ikhazuagbe Nigerian-born former Lobi Stars forward, Kingsley Eduwo, helped Tunisia’s Club Africain inflict a painful 3-0 defeat on Rivers United in a crucial CAF Confederation Cup Group C game in Rades, Tunis on Wednesday night. Eduwo opened scores for the hosts as early as the sixth minute and added a second on the dot of 45th minute to leave the last
C A F C O N F E D E R AT I O N C U P of their remaining two matches in the group stage. Rivers United will need to win their next away game at Angola against the whipping team of the group, Academica Petroleos do Lobito to stand any chance of making it out of the group. Both Club Africain and Dreams FC of Ghana are tied on nine points
Nigerian team in continental football this term groping. Club Africain took the game far beyond the reach of the Pride of Rivers people when Rami Bedoui added a third goal without any reply in the 62nd minute. The defeat dropped Rivers United to third spot on the log on six points from four games, ahead
with better +6 goal difference giving the Tunisians the edge. A win for Rivers in Angola will move them to nine points while Club Africain and the Ghanaian side are expected to cancel themselves out. Rivers will have their fate in their hands in their last match against the Ghanaians in Uyo. Win of any margin should qualify the Nigerian team for the knockout stage that will also guarantee the country retaining
Nuno Aiming to Build on Cooper’s Legacy at Forest Nuno Espirito Santo insisted yesterday that he is facing a "huge challenge" at Nottingham Forest and wants to build on Steve Cooper's legacy at the City Ground. Forest have appointed Nuno on a two-and-a-half-year contract. Cooper was sacked on Tuesday after two years and three months, with Forest having lost five of their past six league games to sit 17th in the table. "We have a good group of players, a squad that needs to become better," said ex-Wolves and Tottenham boss Nuno. Speaking at a news conference on Wednesday, the Portuguese head coach added: "What Steve (Cooper) did here is amazing.
her four slots in the CAF inter club competitions next year. Failure by Rivers to reach the knock will also
mean that only two teams from the Nigerian domestic football will be in action in the continent next term.
Kingsley Eduwo scored a brace as Tunisian Club Africain defeated Rivers United 3-0 in a CAF Confederation Cup Group C game...last night in Tunis
"Putting Forest back in the Premier League, keeping Forest in the Premier League. That shows how good Forest fans are, the respect they show for Steve. That says a lot about our fans. "We are trying to improve his legacy." Nuno's first match in charge will be Saturday's home Premier League game against Bournemouth (15:00 GMT kick-off). "What we can bring is to try and improve the players," said the new Forest boss. "Help players become better, give them the solution that they need to compete well - starting on Saturday. "Play good and win - that's the biggest challenge we have ahead of us. It's a huge challenge."
Osimhen’s Market Value Drops Ahead AFCON in Côte d’Ivoire
Odusanya Wins 9th Consecutive Okoya-Thomas Table Tennis Title
Victor Osimhen transfer market value has dropped from 120 Million Euros to 110 Million Euros, according to the latest update on Wednesday by Transfermarkt. The updated Transfermarktvaluation of players in Serie A has also seen Osimhen caught up at the top of the rankings by Inter Milan striker Lautaro Martinez. Martínez has scored 15 goals and four assists, which ranks him first among goalscorers and top scorers (assists + goals). As a result, the Argentine received the fourth biggest upgrade among all players in the market value
Bose Odusanya continued her dominance in the women's singles of the annual Molade Okoya-Thomas Table Tennis Cup just as Muiz Adegoke reclaimed his men’s singles title at the Grand finale played yesterday at Teslim Balogun Stadium in Lagos. Odusanya who has been claiming the title since 2015, won her ninth consecutive gong after beating Anu Anjuwon 4-0 in the women’s singles finals. Also, Adegoke who won his maiden title in 2021 was at his best against Emmanuel Augustine, winning with a comprehensive 4-0 (12-10, 11-7, 13-11, 11-3) scorecard. An elated Adegoke described the win as compensation to him for missing the 2023 World Youth Championship held in Slovenia. “I am so happy that I have something to show for my efforts this year, especially after missing the WYC and I hope I can continue like this in the next tournament,” the national junior champion said. Deji Okoya-Thomas lauded the
Liverpool cruised into the Carabao Cup semi-finals with a dominant 5-1 performance against West Ham at Anfield last night. Once Dominik Szoboszlai had driven a superb 25-yard effort into the bottom corner after 28 minutes, Liverpool's place in the last four was never in doubt. Curtis Jones added a second 11 minutes after the restart when he deceived Alphonse Areola into thinking he was going to cut a cross back from the edge of the six-yard box, and instead drove a shot through the Hammers' keeper's legs. Cody Gakpo was given too much space to fire home his eighth goal of the season 19 minutes from time, then Mohamed Salah made it four when he raced clear of the visitors defence and finished, before Jones finished off an excel-
Nuno Espirito Santos displaying his Nottingham Forest shirt after he replaced Steve Cooper in the City Ground dug out... yesterday
update. Osimhen still struggles with injuries and wasn’t able to reach the level that he displayed last season,” TransfermarktArea Manager Italy, Jatin Dietl, said. “Although he does produce, he just isn’t as impactful for his team as he was during the championship season.” According to ScoreNigeria. com.ng, the African footballer of the year has scored seven goals and two assists this season. Fellow Super Eagles star Ademola Lookman, who plays as a second striker at Atalanta, has maintained his own price tag of 30 Million Euros.
Adegoke overcomes Augustine to reclaim men’s singles gong Liverpool Hammer players for their display while promising a glamorous edition next year.
“We hope to make the tournament bigger next year by setting up an LOC that will
be in charge of the whole event and we hope to make it more colourful,” Okoya-Thomas said.
West Ham 5-1 to Reach ...Winners Emerge in Table Tennis, League Cup Semi-final Others at LSSC Sports Fiesta
As the Lagos State Sports Commission LSSC, kicked off it 2023 End-of-Year Sports Fiesta at Mobolaji Johnson Sports Centre, Rowe Park, Yaba, participating teams have been counting their medals as team Unity is waxing top at the medals log. Team Peace showed determination and resilience in a keenly contested final match against Unity which later ended in a penalty shoot-out after a 5-5 stalemate at the regulation time. Team Peace adorning blue jerseys stayed focus and won the spot kick with a score line of 6-5 to emerge as champions at the epoch-making Stronger2getherfiesta Games. In the table tennis event, San-
yaolu Lukman (Strength Team), defeated his energetic opponent Olasupo Williams to win the gold medal in the male category, while Tokosi Munirat (Unity) overpowered Issa Balikis (Strength) and her peers to clinch the gold medal in the female category. In the Scrabble game set, Adeeko Adeyemi (Strength) and Temitope Smith (Commitment) emerged as gold medalists for both male and female categories of the competition respectively. In the basketball game, Unity defeated Team Peace to grab another gold medal while in the volleyball event,Team Strength snatched their bragging right having defeated Team Peace 2-1 to set up a final clash
with Team commitment today. Yemi Adebara (Strength) and Abisola Omotayo (Commitment) won gold in the Chess board game male and female categories to close the board game contest. With 4 gold, 3 silver and 3 bronze medals already in the bag, Team Unity are at the top of the medals table followed by Team Strength with 3 gold, 3 silver and two bronze medals; Team Commitment 2 gold, 3 silver and 6 bronze medals while Team Peace remains at the bottom with 1 gold, 1 silver and 2 bronze medals. Tug O'War, Traditional game (Abula), five-A-side Football, Badminton commence today at the same venue.
lent run by adding his second. There could have been more as the excellent Harvey Elliott, Gakpo and substitute Trent Alexander-Arnold all went close and Salah put the rebound wide of an empty net after Areola had touched a Darwin Nunez shot on to a post. It was the first time Liverpool had scored five at home against the Hammers since 1998 and keeps them on course for a record-extending 10th triumph in the competition they last won as recently as 2022. For Hammers boss David Moyes, it was a disappointing night. The former Everton boss is still waiting for his first victory in this stadium after 21 visits and Jarrod Bowen's 77th-minute goal with West Ham's first shot on target was scant consolation.
Thursday, December 21, 2023
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Oshiomhole to APC Governors
“The governors summoned me as the chairman of the party to their own preferred venue, not the party office. And one by one, they told me they are the ‘Generals’ in the field. And when they finished, for a moment, I thought I was at a military barracks. They harassed me and said whoever they wanted must emerge and I said ‘you are talking to the wrong person’”—former APC National Chairman, Adams Oshiomhole on how he was removed from office.
olusegunadeniyi Of Mafia and Kangaroo Judgement the verdict olusegun.adeniyi@thisdaylive.com
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his is not the best of times for the Nigerian judiciary. Then serving minister, Mrs Pauline Tallen, sucker punched a court decision last year, describing it as a ‘Kangaroo judgement’ and the echoes now reverberate. A respected former Nigeria Bar Association (NBA) president, Olisa Agbakoba, SAN, alleged last week that Supreme Court Justices operate like a Mafia (at a forum attended by the president). And a retiring Justice of the same court recently ‘broke Omarta’ by hinting that judicial appointments are now reserved for “children, spouses, and mistresses of serving and retired judges and managers of judicial offices”. This crisis of confidence in justice administration/dispensation in Nigeria will not be resolved by self-help, such as banning a politician from holding public office because she made a comment considered “reckless, and disparaging”. It will only exacerbate it. Meanwhile, I am aware that many readers of this column expect my position on the political brigandage in Rivers State. I understand the motives of those invested in what is little more than predatory politics by the two sides (of same coin) even while pretending they are moved by higher values. What I consider beyond scandalous is that the presidency would get involved in a blackmarket political deal that neither promotes the rule of law nor advances public decency. Whatever may be our positions (and there is hardly any neutral commentator in this power struggle which is not about Rivers’ people), what is happening in the state poses less threat to the health of our democracy than the way our judiciary is falling (or being dragged) into disrepute. That is my concern today, especially since the tragic drama in Rivers State has only just begun. More will unfold. On 16 October last year, Mrs Pauline Tallen, then Minister of Women Affairs and Social Development, attended the alumni meeting of the Federal Government Girls College Bida. At the forum, she took a swipe at a “Kangaroo judgement” of the Federal High Court in Yola which “should be rejected by all well-meaning Nigerians”. In the said judgement, the court had nullified the candidature of Aishatu Dahiru aka Benani as the ruling All Progressives Congress (APC) flagbearer for Adamawa State in the 2023 general election. Two days after her remark, the Nigerian Bar Association (NBA) president, Yakubu Maikyau, SAN, asked Tallen to apologise or face legal action. When Tallen gave him and his exco the ‘Kangaroo treatment’ by ignoring them, the NBA filed a case in court. “I am bringing this woman before your Lordships because she is impugning on your integrity”, was the charge regardless of how they may have framed it. And the outcome was predictable. Interestingly, it was the NBA that told Nigerians on Monday that an Abuja court had indeed “declared that the said statement of Dame Pauline Tallen (the defendant) was unconstitutional, careless, reckless, disparaging, a call to disobey the judgment of court and therefore contemptuous of the Federal High Court of Nigeria.” The NBA went further to report “an injunction restraining Dame Pauline Tallen from holding any public office in Nigeria, unless she purges herself of the ignoble conduct by publishing a personally signed apology letter to Nigerians and the judiciary,” and that “the injunction restraining the defendant from holding any public office in Nigeria shall become perpetual if she fails to abide by the order directing her to publish an apology letter within 30 days.”
Mrs Pauline Tallen Before we go further, it is necessary to understand the meaning of Kangaroo Judgement. The Mariam-Webster dictionary defines ‘Kangaroo Court’ as “a mock court in which the principles of law and justice are disregarded or perverted” or “a
court characterized by irresponsible, unauthorized, or irregular status or procedures.” That, I suppose, is self-explanatory since I don’t want Maikyau and his NBA to ask an Abuja court to restrain me from traveling to my beloved Kwara State for Christmas. But considering that the judgement over which the NBA is crying more than the bereaved was unanimously overturned at the Court of Appeal, could it be that Mrs Tallen knew something that we don’t? Besides, what did she say that lawyers have not said. On Tuesday, Jibril Jimeta, an official of Adamawa State branch of NBA, said in Yola: “Corruption in the legal profession is now in full scale às some of our members serve as the conduit for exchange of money between the judges and litigants.” What do you call a judgement that comes from such a process? In November last year, Maikyau’s predecessor, Olumide Akpata said in the United States during the International Bar Association convention that politicians have taken control of most Nigerian courts to solidify their hold on power. “In my jurisdiction, what happens is that from the point of view of appointment, the process is opaque. So, people who are not supposed to be on the Bench get to the Bench,” argued Akpata who added, “Because politicians recognise that the way to political power now is the judiciary, they do everything to take over the appointment process, ensure the judiciary is not well paid, and make the system dysfunctional.” Maikyau of course said nothing to that. Nor was there an NBA uproar in April 2017 when
Lagos Lawyer, Femi Falana, SAN declared that “courts in Nigeria are supermarkets where justice is sold.” He made the statement as a guest speaker at the opening of the Law Week of the Enugu Branch of the NBA on the theme ‘Corruption and the justice sector: Implications for the rule of law and democracy’. When Justice J. D. Peters of the National Industrial Court invited Falana, he challenged the summon on grounds that the Judge lacked the jurisdictional competence to summon him for the purpose of explaining a comment credited to him (Falana) in the media. And nothing happened. Of course, former National Human Rights Commission (NHRC) Chairman, Chidi Odinkalu, has for years been speaking about how judicial appointments have been corrupted in the country. “It is not suitable for the Chief Justice of Nigeria to appoint his nephew to the Court of Appeal and his son to the Federal High Court or for the President of the Court of Appeal to appoint her son-in-law to the bench and her daughter appointed to Plateau State High Court where she comes from,” Odinkalu said last month in a frontal accusation against CJN Olukayode Ariwoola who remains silent on the scandal. These are issues in public knowledge. So, why are the NBA looking away on what their colleagues are saying while harassing Mrs Tallen? When courts of concurrent jurisdiction issue conflicting orders on the same matter as we see in political cases, how do you describe such judgement? NOTE: Piece concluded online
Lanrewaju Adepoju (1940 to 2023)
I
t is unfortunate that despite deploying his prodigious intellect for the promotion of Yoruba language and culture, ‘Ewi Exponent’, Lanrewaju Adepoju died on 10th December this year almost unsung. I am surprised that nobody around President Bola Tinubu had the presence of mind to nudge him to commiserate with Adepoju’s family. And we are talking about a genuine Yoruba icon (with millions of followers before the advent of social media) who incidentally once released a famous track, ‘Tinubu F’omo Yo’ when the president was governor in Lagos. What is perhaps more worrisome is that Ewi (a form of Yoruba musical poetry) promoted by Adepoju, the late Tubosun Oladapo and a few others are going extinct. And with that, we are being denied the wisdom, the artistry and the chastening/conscious music of that genre in an age of mostly racy entertainment devoid of meaning. Therefore, with Adepoju’s death, something significant has also died in the cultural universe, especially when such genres are not being renewed or sustained. Incidentally, I share a common admiration for Adepoju’s works with my former lecturer at Ife, Biodun Alao, currently a professor of African Studies at King’s College, London and the programme director of the African Leadership Centre. During one of his visits to Nigeria last year, Professor Alao gave me a most treasured gift: the entire collection of Adepoju’s works in one flash disk! Numbering 128 in all, they include such classics as ‘Edibo Fun Baba’ (easily the political mobilization song of the late Chief Obafemi Awolowo in 1979), Alagbara (powerful man), Omo Oduduwa (children of Oduduwa), Ojo Idajo (Day of
Lanrewaju Adepoju Judgement), Nibo La n Lo? (Where are we headed in Nigeria?), Iku Abacha (The death of Abacha) etc. For members of the X generation who may wonder why Adepoju was important, the Poetry Translation Centre described him as an autodidact who taught himself to read and write in Yorùbá and English. “But his time spent with the griots (West African poets and storytellers) gave him a vast knowledge of the Yorùbá verbal arts and culture that informed his mature work. He worked in
a newspaper house as a proofreader, then became a poet, publishing a collection titled ‘Ìrònú Akéwì’ in 1972, as well as a novelist, publishing ‘Ládépò Omo Àdánwò’ in 1975. The novel was later made into a movie in 2005.” At a period in history when appointments were merit-driven and knowledge was more important than paper qualifications, Adepoju’s poetry earned him a job at the Western Nigerian Broadcasting Service in the seventies, although he later resigned to become an independent poet and record producer. Renowned for his politically charged poetry, Adepoju was, “at different times, a poetic conscience for the Yorùbá-speaking nation, a scourge on politicians, an advocate for the masses, a religious leader whose poems often took on proselytizing characteristics, and eventually a spokesperson for politicians and administrators whose positions he supported,” according to his profile by the Poetry Translation Centre. He of course paid a price for his stand on public issues: “He was detained by military administrators for some of his activism. His insistent political positions lost him some of his supporters, but the talent behind his voice and words was never questioned. He is one of the most notable exponents of the ewì spoken-word poetry in Yorùbá, and one of the most influential voices in the genre.” A respected Islamic scholar in his own right, Adepoju has been buried. But if there is any Yorubaman who deserves a lasting memorial, Adepoju is one. I hope the Governor of Oyo State, Seyi Makinde, will do something in honour of the late Alasa of Ibadanland. May God comfort the family he left behind.
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