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Why PDP as an opposition party is dead in Imo State,

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Monday July 13, - Sunday July 19, 2020

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Plundering the loot!

Today

VOL.5 No.9 N200

Ayo Salami Committee disembowels Magu •497 properties missing •Sea vessels sunk •Bureau de Change with 158 bank accounts •Unaccounted N39billion dangling in the bank Sopruchi Onwuk, and Victor nze

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reliminary reports from the investigation of the former Acting Chairman of the Economic and

Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, are getting messier with various versions of misappropriation and public funds and mismanagement of assets Cont’d on page 5

Indigenous Oilserv leads AKK Pipeline project

•Former Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu

‘I never campaigned for AIICO to divest Buhari against Jonathan’ pension business –Dasuki clears air Page 34

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Okada man rapes 16-year-old girl with gun

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The Oracle Today Monday July 13 - Sunday July 19, 2020

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The Oracle Today Monday July 13 - Sunday July 19, 2020

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The Oracle Today Monday July 13 - Sunday July 19, 2020

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The Oracle Today Monday July 13 - Sunday July 19, 2020

NEWS

By VICTOR NZE

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ormer National Security Adviser (NSA) under the Goodluck Jonathan administration, Col. Sambo Dasuki (rtd) has cleared the air on reports claiming that he worked for the eventual winner of the 2015 Presidential Elections, Muhammadu Buhari of the All Progressives Congress (APC), against his boss.

In a personally signed statement by the retired Army chief, Dasuki described the report as ‘too ridiculous to take serious,’ even as he explained that he ‘felt it would be appropriate not only to debunk it but to put the records straight especially in view of politics of mischief and character assassination that are unfortunately the norms today.’

Dasuki claims in his statement that he ‘never worked at cross purposes with my boss, President Goodluck Jonathan,’ of the Peoples Democratic Party (PDP), as he further added that he did not campaign for the All Progressives Congress (APC) against the interest of his boss, Jonathan.

“My attention has been drawn to a false report to the effect that I discreetly campaigned for Muhammadu Buhari and his party APC while I was serving as President Jonathan’s National Security Adviser.

“At first I found the report too ridiculous to take serious but on a second thought, I felt it would be appropriate not only to debunk it but to put the records straight especially in view of politics of mischief and character assassination that are unfortunately the norms today.

‘I never campaigned for Buhari against Jonathan’ – Dasuki clears air

“The truth is that I was involved in an attempt at forging an alliance between the Action Congress of Nigeria (ACN), All Nigeria Peoples Party (ANPP) Congress for Progressive Change (CPC) among others prior to 2011 elections which was not successful.

My involvement in that political process ended after the elections of 2011.

“At the point of accepting the appointment to serve as National Security Adviser (NSA in 2012, I made clear to President Jonathan that I had relationships with General Muhammadu Buhari of CPC, Asiwaju Ahmed Tinubu of ACN and Chief Ogbonnaya Onu of ANPP among others opposition elements and that my appoint would not cause me to sever the relationship.

“I, however, assured him that I would never betray him. As a man of honour, I kept to my words.

Therefore, as NSA between 2012 and 2015, I never campaigned for APC nor its candidate, Muhammadu Buhari, in whatever shape or form before, during or after the 2015 presidential election. I never worked at cross purposes with my boss, President Goodluck Jonathan as being recklessly insinuated by mischief makers on their blogs and social media,” he

•(From left): Lagos State Commissioner for Information and Strategy, Mr Gbenga Omotoso; Minister of Information and Arts, Alhaji Lai Mohammed; Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele; and Lagos Governor, Mr Babajide Sanwo-Olu, during the official handover of the National Theatre Complex to the CBN and Committee of Banks, for renovation, Sunday

Ayo Salami Committee disembowels Magu Cont’d from Pg 1 in the custody of the anti-graft agency.

Mr Magu is currently facing charges of mismanagement and lack of transparency in managing recovered assets as well as flagrant disobedience to directives and to court orders.

From allegations of money laundering, the list of infractions against the suspended thief chaser has grown to massive acquisition of houses, diversion of government revenues and mismanagement of impounded assets.

The Presidency, Sunday, defended the arrest, suspension and subsequent probe instituted against the Mr. Magu, explain that the investigation was compelled by ’a series of documented allegations’ leveled against the erstwhile EFCC boss, who has since been replaced by the Director of Operations at the anti-graft agency, Mohammed Umar.

Officially reacting to the arrest and replacement of Magu for the first time since the episode began, Mallam Garba Shehu, the Senior Special Assistant to President Muhammadu Buhari, stated in his Twitter handle that the suspension of the former EFCC boss followed preliminary review of the allegations leveled against the Acting Chairman and several other members of his staff.

He explained that ‘there were grounds for a detailed investigation to be conducted,’ adding that it became proper for Mr Magu to step down from his position for a transparent and unhindered investigation.

“Therefore, the suspension of Mr. Ibrahim Magu, allows the institution to continue carrying out its mandate without the cloud of investigation hanging over its head.

“Meanwhile, Mr. Magu is being availed the opportunity to defend himself and answer the allegations against him. This is how it should be, as is the fact that under the Laws of Nigeria every citizen is presumed and remains innocent until proven guilty.

“We must realize that the fight against corruption is not a static event, but a dynamic and ever evolving process, in which the EFCC is just one actor; and as we continue to work towards improving our democratic process so shall every institution of ours also embark on that journey of evolution.

“What is however important is that there must be accountability and transparency and our people must realize that they would be held to account.

“This is the building block in the fight against corruption, the establishment of the concept of Accountability and the recognition of the Rule of Law,” Shehu said.

According to the Presidency, and arrest and probe of Magu does not indicate a failing in the fight against corruption, as it insisted that the former EFCC boss was not immune to probe.

“Those who see Mr. Magu’s investigation, as a signal that the fight against corruption is failing, have unfortunately, missed the boat.

“There is no better indication

that the fight is real and active than the will to investigate allegations in an open and transparent manner against those who have been charged to be custodians of this very system.

“Under this President and Government, this is our mantra and guiding principle. There are no sacred cows, and for those who think they have a halo over their heads, their days are also numbered.

“Mr. Magu was not immune – and regardless of the obvious embarrassment that potential acts of wrongdoing by him, given the office he held, may appear for the government,” the statement read.

Mr Shehu made it clear that the weight of allegations against the EFCC boss was compelling enough for the government to take immediate action at cleansing the Augean stable.

According to a report credited to Presidential Committee on Audit of Recovered Assets (PCARA) Magu who is detained by the DSS was finding it difficult to account for real estate properties and sundry assets worth billions of naira.

In the report which circulated in the media on Sunday, the suspended EFCC boss was alleged to have accused of failing to account for 497 out of the 836 recovered real estate properties in March 2018.

According to the report from the Presidential Committee, Mr Magu allegedly ran the EFCC with administrative impunity and executive fiat, selling recovered assets unilaterally and sharing some of them to his cro-

nies.

“Some of the assets have been taken over by EFCC officials while some are sold at giveaway prices to friends and cronies of the Acting Chairman. It is also on record that the (suspended) acting chairman is maintaining different accounts, including using proxies who return the benefit of the sold assets to him.

“These funds are then used to procure property and lands in the names of some of his proxies.”

On the management of assets under the custody of the EFCC, the report alleged that physical assets including landed property, cars and vessels recovered by the EFCC over 15 years were left to degenerate in value due to poor management.

The report alleged that Mr Magu supervised the sinking of two vessels at NNS Beecroft Naval BASE, Lagos and NNS Pathfinder Naval Base in Port Harcourt without trace.

“The vessels named MT GOOD SUCCESS, MV PSV DERBY and MV THAMES were allowed to sink in spite of several warnings from the Navy on the need to evacuate the petroleum products in the vessels. The total value of the assets lost due to the negligence runs into millions of US dollars,” the report stated.

The committee also alleged that Mr Magu has since failed to explain what happened to the sunken vessels.

The committee stated that EFCC under Mr. Magu and its consultants lacked the capacity to manage recovered assets under the agency’s custody, a posi-

tion that placed the full value of the assets at peril.

Besides the allegations of asset diversion, the committee also alleged poor accounting capacity at the EFCC, a situation it said led to conflicting submissions in respect of the non-cash assets held at the commission.

The lack of accountability at EFCC, according to the document from the Presidential Committee, drilled down the ranks of the organization, leading to lack of adequate returns

by EFCC departments and zonal offices as reasons for these discrepancies and inconsistencies by the commission.

The committee also stated that Mr. Magu allegedly embarked on asset disposal, ignoring all due processes and asst reporting procedures that emphasized compliance to regulations on the management of recovered assets.

The committee stated that there is no way to have an audit of the property given the way they were disposed in flagrant disregard to regulations requiring reference to the Office of the Attorney General of the Federation.

The committee further alleged that there was deliberate attempt to hide the exact figures of recoveries, pointing out that refusing compliance to the regulation is a clear case of refusal to follow lawful instructions and directives contrary to the provisions of the Act that establish the EFCC. Earlier on Saturday, the panel which probed the federal gov-

Cont’d on page 34

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The Oracle Today Monday July 13 - Sunday July 19, 2020

NEWS ACROSS THE NATION Banks to renovate National Theatre Stories by VICTOR NZE

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EDERAL Government has officially handed over the National Theatre complex to the Committee of banks, for renovation.

The Committee of Banks is a body of bank chief executive officers in Nigeria.

At a brief ceremony which held outside the building, Sunday, Minister of Information and Culture, Alhaji Lai Mohammed officially handed over the edifice to Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, representing the Committee of Banks.

Confirming the deal which cost

was not made known, Senior Special Assistant (SSA) to the Governor of Lagos State on New Media, Jubril Gawat said the Committee of Banks would source funding for the project.

Also present at the handing over in Iganmu, Surulere, was Governor of Lagos State, Mr Babajide Sanwo-Olu.

The National Theatre has been in a dilapidated state for years as controversies continued to surround the status of the complex following government’s reluctance to fund repair or renovation works on the property which was historically the pri-

Atlas Petroleum resumes development of OML 109

By SOPURUCHI ONWUKA

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•Minister of Information and Arts, Alhaji Lai Mohammed handing over the prestigious National Arts Theatre Complex to the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, representing the Committee of Banks, a body of the CEOs of commercial banks for the renovation of the edifice, as Lagos State Governor, Mr Babajide Sanwo-Olu and state ..Commissioner for Information and Strategy, Mr Gbenga Omotoso watch, Sunday.

Magu: ‘Fight against corruption not failing’ – Presidency

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HE Presidency, Sunday, defended the arrest, suspension and subsequent probe instituted against the former Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu.

According to the Presidency, the probe was based on what it called ’a series of documented allegations’ leveled against the erstwhile EFCC boss, who has since been replaced by the Director of Operations at the anti-graft agency, Mohammed Umar.

It would be recalled that Umar replaced the embattled Ibrahim Magu, who was Monday, arrested by operatives of the Department of State Security (DSS) and made to appear before a Presidential Panel reviewing the activities of the EFCC, sitting at the Banquet Hall wing of the Presidential Villa, Abuja.

While Magu was still in the custody of the DSS in the arrest and ongoing probe, Umar was Wednesday, named to head the anti-graft agency of government, according to confirmed Presidency sources.

According to operational hierarchy and by convention, the director of operations is next to the chairman.

Since his arrest, Magu has spent the nights at Area 10 force criminal investigation department (FCID) of the police in Abuja.

EFCC initially refuted reports in the media claiming that Magu, was Monday afternoon, arrested by operatives of the Department of State Security (DSS).

The EFCC statement signed by its Head, Media & Publicity, Dele Oyewale, and made available to

Oracle Today newspaper, Monday evening, explained that Magu was stopped in traffic by DSS operatives while originally on his way to the Force Headquarters in Abuja for an earlier appointment.

Oyewale said his boss had also planned to honour the invitation by the Presidential Panel same day.

Officially reacting to the arrest and replacement of Magu for the first time since the episode began, Mallam Garba Shehu, the Senior Special Assistant to President Muhammadu Buhari, in a statement released via his Twitter handle, Sunday, said the suspension of the former EFCC boss followed preliminary review of the allegations leveled against the Acting Chairman and several other members of his staff, adding that ‘there were grounds for a detailed investigation to be conducted.’

“As is the proper procedure, when allegations are made against the Chief Executive of an institution, and in this case an institution that ought to be seen as beyond reproach, the Chief Executive has to step down from his post and allow for a transparent & unhindered investigation.

“The EFCC does not revolve around the personality of an individual, and as such cannot be seen through the prism of any individual.

“Therefore, the suspension of Mr. Ibrahim Magu, allows the institution to continue carrying out its mandate without the cloud of investigation hanging over its head.

“The EFCC has many good, hardworking men and women who are committed to its ideal and ensuring that the wealth of our country

isn’t plundered and wherein there is an act of misappropriation such person(s) are brought to justice.

“Meanwhile, Mr. Magu is being availed the opportunity to defend himself and answer the allegations against him. This is how it should be, as is the fact that under the Laws of Nigeria every citizen is presumed and remains innocent until

mary centre for performances during the Festival of Arts and Culture (FESTAC) hosted in Nigeria in 1977.

Initiated by General Yakubu Gowon, the complex was commissioned in 1976 by General Olusegun Obasanjo with a 5,000-seater Main Hall with a collapsible stage, and two capacity cinema halls.

NDIGENOUS independent exploration and production company, Atlas Petroleum, has announced plans to resume enhanced oil recovery at assets in operated Oil Mining Lease (OML) 109 onshore Niger Delta.

According to the Chairman of Atlas Petroleum and sister Oranto Petroleum, Prince Arthur Eze, the work programme will include workover and well intervention processes to boost output from Ejulebe marginal field and also explore reserves upside.

According to a statement from the company, work has already resumed on the block.

“Over the weekend, Atlas Petroleum International has resumed work over activities and well interventions on OML 109 in Nigeria in order to enhance production from the Ejulebe marginal field,” the company stated.

Awarded to Atlas Petroleum International in 1991, the block entered into production through the development of the Ejubele discovery in September 1998.

OML 109 comprises 14 identified and mapped prospects and leads, and an un-risked resource potential in excess of 500 million barrels of oil equivalent.

Its low cost operating environment in shallow water and proximity to existing oil and gas infrastructure such as the Escravos Terminal make it one of the most attractive assets in

the Niger Delta, with significant untapped and under-explored hydrocarbons potential.

“The renewed development of OML 109 will bring a boost to local content development in Nigeria, and support the industry’s recovery following the Covid-19 crisis. As Nigeria multiplies efforts to build domestic capacity and develop the Nigerian content, we intend to live up to expectations as one of the country’s major indigenous player”, declared Prince Arthur Eze, Executive Chairman or Atlas Oranto.

Ondo APC primary: ‘I’ve not been disqualified’ –Akeredolu

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NDO state governor, Rotimi Akeredolu, has refuted reports that he has been disqualified from contesting the state’s governorship election primary of the ruling All Progressives Congress (APC), in the state, describing the claims as diversionary.

The APC primary poll is fixed for Monday, July 20.

Reacting to the reports of his disqualification, in a statement issued on Sunday, in Akure, through his Senior Special Assistant on Media and Publicity, Ojo Oyewamide, the governor confirmed that he remains gubernatorial race.

The statement explained that the rumour was ‘a ploy to deceive and distract supporters of the incumbent Ondo state governor.’

Cancelling 2020 WASSCE ‘counter-productive’ –Atiku tells FG

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ORMER Vice President, Alhaji Atiku Abubakar, has declared that the decision by the Federal Government to cancel the 2020 West African Senior School Certificate Examination (WASSCE) over spread of the Coronavirus disease (Covid-19) pandemic in the country will put Nigeria at more risk.

Atiku who disclosed this via his Twitter handle, Friday, was reacting to Federal Government’s decision to cancel the examinations for this year owing to the pandemic as it also foreclosed the idea of reopening schools on account of safety of students.

It would be recalled that barely 48 hours after the Minister of State for Education, Emeka Nwajiuba, had on Monday announced that the West African Examination Council (WAEC) can commence the conduct of its Senior School Certificate Examination (SSCE) on August 4, this year, the Minister of Education, Mallam Adamu Adamu, reversed the decision, as he, Wednesday, exempted schools in the country from participating in the exercise.

According to Nwajiuba in his earlier statement; “From the 4th of August to the 5th of September, please take note. Last week the Chairman of the PTF announced that school facilities will be available for those who want to go into revision classes.

“The idea here is that we have a whole month from now till then, those who can and those who are willing; the states who are willing should make their schools available for their children to revise.

“We have done the most we can with our representatives at WAEC and we have, this afternoon, confirmed that the dates allotted for the exams will be from the 4th of August through to the 5th of September,” the minister added.

He added that the ministry will publish the local timings for the examinations after a meeting with authorities of the Nigeria Centre for Disease Control (NCDC) and the Nigerian Union of Teachers (NUT), among other stakeholders.

Nwajiuba disclosed that as soon as WAEC examinations were con-

cluded, the government would take up the National Examination Council (NECO) and the National Business and Technical Examinations Board (NABTEB) examinations.

However, in a reversal of pronouncements, Adamu said the Federal Government has ruled out SS3 students in Nigerian schools from the WAEC examinations for this year.

According to Adamu, who disclosed this to State House correspondents after the week’s virtual Federal Executive Council (FEC) meeting, no date for school resumption has been fixed, as the institutions remain closed till further notice.

Adamu, while explaining reasons for reversal of earlier decision to allow for students writing exams to reopen for lessons, said he would rather prefer Nigerian students to lose an academic year than to expose them to dangers.

The minister further added that Nigerian schools will not reopen any time soon until it was safe to do so because of the ongoing pandemic.

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The Oracle Today Monday July 13 - Sunday July 19, 2020

NEWS ACROSS THE NATION

Resign now!

Ondo deputy gov tells Speaker Stories by VICTOR NZE

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NDO Deputy Governor, Agboola Ajayi, has told Speaker of the state House of Assembly, Bamidele Oleyelogun, to resign from the position for bringing the lawmakers to disrepute following the botched impeachment move against him by the legislators.

According to Ajayi, the speaker’s action of initiating an undue impeachment motion against him was ‘shameful’, even as he accused the lawmaker of ‘bringing the House to disrepute.’

Ajayi, who was reacting to the decision by the Chief Judge of the state, Justice Olarenwaju Akeredolu, to decline the request made by a section of the assembly to initiate a probe panel to investigate him, signaling the commencement of impeachment proceedings, further accused the Speaker of not following due process in the matter.

This is also the Deputy Governor commended the Chief Judge of the state for taking an ‘honourable’ position in declining the lawmakers’

request.

According to Ajayi, the Speaker’s will restore ‘the dignity of the House.’

“We are reminded of the triumph of the human spirit across the age against totalitarianism and encouraged to bring to live the progressive provisions of our constitution that are antidotes to satanic demagoguery and maximum leadership.

“The deputy governor is humbled by the epochal decision, and reinvigorated to continue to stand for the good of the people as the arrowhead of the move to return government to where it rightly belongs – the people of Ondo state,” Ajayi said in a statement issued by his media aide, Allen Sowore.

It would be recalled that a controversial impeachment move initiated by members of the Ondo House of Assembly against Ajayi, suffered a major setback as the Chief Judge

Akeredolu, Thursday, declined request from the lawmakers to set up a probe panel against him.

In declining the request by the Ondo lawmakers for a probe panel to investigate the deputy governor over allegations of gross misconduct, the chief judge faulted the move insisting that the two-third majority required by the 1999 constitution for setting up of such a probe panel was not formed in the assembly.

This is also as the chief judge made reference to a letter from Ajayi’s lawyers stating that the process of impeachment was subjudice.

Oracle Today newspaper had, earlier Tuesday, reported that Ajayi had already gone to court to contest the controversial motion by a few members of the House to initiate impeachment moves against him, even as some of the lawmakers have since distanced themselves from the

move.

The House rising from a near covert plenary Tuesday had written to the state Chief Judge to affirm a probe panel to investigate the deputy governor over allegations of gross misconduct, a development seen as a move to impeach Ajayi.

Ajayi, who had last month, resigned his membership of the All Progressives Congress (APC) while also defecting to the opposition Peoples Democratic Party (PDP) has been courting controversies following his insistence on retaining his position in government despite defection.

However, in a controversial move, 14 members of the 26-member Ondo House of Assembly served the notice on the deputy governor during Tuesday plenary on Tuesday.

This is just as the embattled deputy governor is said to have headed to court, same Tuesday, to seek stop-

page of the notice from taking effect.

Chairman, House Committee on Information, Mr Gbenga Omole, explained that only 9 members of the House were required by law to sign the impeachment notice.

Omole disclosed that journalists were not allowed into the chambers due to Coronavirus disease (Covid-19) safety protocols, a position debunked by another member, Samuel Edamisan, representing Irele Constituency, who said that considering the half-empty plenary session, there would have been no health risks if the media were permitted to cover the sitting.

According to him, the move to initiate impeachment proceedings against the deputy governor initiated by the House was unconstitutional, maintaining that it would not work.

NAF recruitment exercise ‘free of charge’

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IGERIA Air Force (NAF) has said its recruitment exercise if free of charge, as the organization warned against extortion of unsuspecting candidates by ‘some unscrupulous individuals.’

A statement signed by Director of Public Relations and Information Nigerian Air Force, Air Commodore Ibikunle Daramola, weekend, said these ‘fraudulent individuals have established fraudulent Facebook and WhatsApp groups with the objective of extorting money from unsuspecting applicants/ candidates under the false impression that they can guarantee them eventual recruitment into the Service in the 2020 NAF Trades/NonTrades Men and Women Recruitment Exercise.’

“The NAF wishes to reiterate that the entire NAF Recruitment process is completely FREE OF CHARGE and executed in an equitable and transparent manner. Interested applicants, who meet the requirements are to apply online at the NAF official website, www.airforce.mil.ng, from 24 July 2020 to 21 August 2020.

“Applicants are NOT required to pay money to anyone for any purpose throughout the process. Accordingly, the general public, and especially applicants, are strongly advised NOT to join any such WhatsApp, Facebook or indeed any other social media groups and have no dealings with anyone demanding money as a guarantee for recruitment into the Service, as no applicant is required to make any payments to any individuals or bank accounts at any point during the recruitment process.

“The NAF, while taking action to apprehend the perpetrators of such illegal activities, wishes to advise applicants who are solicited to make any payments to promptly report such to the nearest NAF Unit, Nigeria Police Post/Office,” the statement read.

•Lagos State AIDS Control Agency (LSACA), during a two-day HIV Testing Service (HTS) and sensitisation programme for members of the Nigerian Automobile Technicians Association (NATA), Surulere Chapter, on Wednesday.

Interpol nab 3 in Edo for cybercrime

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PERATIVES of the Nigeria Police Cybercrime Unit, Interpol National Central Bureau (NCB), Abuja, have arrested three suspects, namely; Samson Inegbenesun (30years), Blessed Junior (32 years) and Muhammed Zakari (36 years), all male from Uromi in Edo State, for cyber-related offences including advance fee fraud, money laundering and romance scam.

The suspects were arrested in Uromi, following investigations into suspected fraudulent online procurement and supply of Coronavirus disease (Covid-19) protective mask, received through the Interpol NCB Wiesbaden, Germany.

Investigations reveal that Samson Inegbenosun is an internet fraudster and a member of a Turkey-based online scamming syndicate who supplies foreign and local bank accounts to receive fraudulent funds and use same as conduit to other feeder accounts.

Meanwhile, the Police have recovered from him, a building apart-

ment worth N20 million, a Toyota RAV-4 2015 model worth N6 million and a Toyota Matrix 2002 model valued at N2 million which he procured with the proceeds of the crime.

The second suspect, Blessed Junior, returned to Nigeria from Italy in February, 2020 but maintains close contacts and illicit dealings with his Italian associates.

Investigations reveal that he has made over N120 million from internet fraud and other cybercrime dealings.

He also received the sum of 52,000 Euros recently from his criminal associates in Italy as commission for his active involvement in an international cybercrime deal.

He also owns a petrol station established with the proceeds of the crime.

Mohammed Zakari, an expert in internet fraud, identity theft and impersonation, falsely claims to be a British citizen.

He also poses to be one Kelly Galk on online dating apps which he

uses to carry out romance scams and to defraud unsuspecting members of the public, locally and internationally. Investigation reveals he has made millions of naira from his illicit cybercrime transactions since he joined the syndicate.

In a similar development, Police operatives have successfully rescued an American citizen who was confined in a Lagos hotel where she was held against her wish for over a year.

The victim who hails from Washington DC, USA and is a retired civil servant in the United States, arrived Nigeria on 13th February, 2019 on a visit to one Chukwuebuka Kasi Obiaku, 34years old, a native of Ikeduru local government area of Imo State whom she met on Facebook.

She was, however, rescued by Police operatives attached to the Intelligence Response Team (IRT), Ogun State Annex following information received from a Nigerian in the Meran area of Lagos State.

Investigations reveal that the suspect, Chukwuebuka Kasi Obi-

aku is a graduate of Business Administration and Management and an internet fraudster who has defrauded many unsuspecting members of the public both locally and internationally.

Chukwuebuka deliberately lured the victim into the country under the pretext of love and deceitfully married her on 15th of May, 2019.

He subsequently held her captive in a hotel, extorted from her monies amounting to a total of $48,000.

He also allegedly forcefully collected and took control of her credit and debit cards as well as the operation of her bank accounts including the receipt of her monthly retirement benefits and allowances over the period of 15 months. Chukwuebuka also used the victim as a front to defraud her associates and other foreign personalities and companies.

Police said all the suspects will be charged to court on conclusion of investigation and prosecuted in line with the Cybercrime Prevention/ Prohibition Act, 2015.

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The Oracle Today Monday July 13 - Sunday July 19, 2020

NEWS Discharged Delta State commissioner recounts COVID-19 experience From JONATHAN AWANYAI, Asaba COVID-19. It is a viral infection that attacks the lungs and your respirahe Delta State Commissioner tory system and makes it impossifor Information, Mr Charles ble for you to breathe.

“Doctors who kept check on us Aniagwu, who was recently discharged from COVID-19 isolation continued to ensure that we were center after testing positive for the free in terms of breathing because coronavirus, described the experi- the moment you begin to have that ence as challenging. difficulty it becomes quite challengSpeaking to Channels Televi- ing. sion’s “News Across Nigeria”, An“Individuals have various deiagwu explained that he voluntarily grees of attack. For some persons, went for the test having been in it could be mild like mine. For some the frontline of sensitisation and other persons, it brings them down enforcement of the state govern- and it causes a lot of havoc in their ment’s directives on measures to respiratory system. curb the spread of the pandemic.

“And as the medical personnel He narrated: “I had thought that have said, if anyone has pre-existfor somebody who has been in the ing health conditions, it becomes centre of the sensitisation in the quite challenging.”

The commissioner noted that state, and that I could just go for test to help deal with the issues early reporting of symptoms was of prejudices that exist among the helpful.

According to him: “The major people on the reality of the pandemic and the measures. challenge we have as a country and “When I went for the test, I was in Delta is the issue of prejudice; not even having symptoms, but there are some persons that say it between the time I was tested and is malaria because they have not when the result came out, I lost my experienced it, and we pray they sense of smell. don’t experience it for them to be“So, it became obvious that lieve.

“There are also the issues of relithere was something wrong. And when the test result came out and gion where some persons believe it turned out positive, the medical that once you pray, there is nothing personnel instructed me on what like COVID-19.

“Prayer is important but you to do; they were quite effective.

“In the course of going through don’t see a moving train and begin the isolation it became obvious to to put the Lord thy God to test.

“There is also the issue of ignome that there is a difference between COVID-19 and the malaria. rance and lack of trust that has “If you have malaria, after two or existed over the years between three days of treatment, it leaves the government and the people – you or when you administer one a situation where somebody will or two drugs, you are off the chal- believe that it is because one has lenge. If you have malaria nobody been given money and some peoprescribes all sorts of vitamins for ple even ask me how much was I you with a view to boosting your paid.

“I wonder how much anybody immunity and taking stuffs that will make you clear your respiratory will pay a state governor or a Chief of Staff to the President for him to track.

“But, that is the prescription for claim he has COVID-19.”

T • Governor Ifeanyi Ugwuanyi of Enugu State (3rd right) with the Deputy Inspector General of Police, ICT, DIG Celestine Okoye (2nd right); Assistant Inspector General of Police, Zone 13, AIG Danmallam Mohammed (3rd left), the State Commissioner of Police, CP Ahmad AbdurRahman (2nd left), former Minister of Power, Prof. Chinedu Nebo (right), the Chairman, State Council of Traditional Rulers, HRH, Igwe Amb. Lawrence Agubuzu (left) and other members of the Enugu State Community Policing Advisory Committee, shortly after their inauguration by the governor.

Adinuba dismisses claims of dramatic increase of COVID-19 infections in Anambra From OZO RAY

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ontrary to the impression created as a result of the announcement of 20 new cases of coronavirus infections in Anambra State, which was termed a dramatic increase in the number of cases, governnent has said that there was no dramatic increase and that the state has remained one of the states with the least COVID-19 cases.

Mr. C.Don Adinuba, the commissioner for information and public enlightenment who made the clarifications in a statement, explained that the true situation is far different from what people have about the figures announced by the Nigeria Centre for Disease Control (NCDC).

Adinuba noted that a lot of people have innocently assumed that as many as 20 people were infected in Anambra in one day.

He said, “the true situation is far from the impressions some have as a result of the figure. There is no dramatic increase in the number of COVID-19 infections in the state.

“The 20 cases reported by the NCDC were based on samples taken in over three weeks across the state. Some of the samples were even taken outside Anambra, but were ascribed to our state because the people tested chose, for different reasons, to identify with the state.

“Only seven out of about 100 samples tested at the Chukwuemeka Odumegwu-Ojukwu Teaching Hospital, Awka, turned out positive. Therefore, the COVID-19 prognosis of our state is still good, one of the very best in the country.

“It is important to bear in mind

that many of the 20 reported cases came from Nnamdi Azikiwe Teaching Hospital, Nnewi, which most unfortunately lost one of its key officers to reported complications arising out of COVID-19. His contacts in the medical college, teaching hospital, his private hospital, family and community have been traced comprehensively.

“The relatively low positive results which Anambra has been getting, despite the fact that a large number of our people travel extensively for business and other legitimate pursuits and the fact that we have some of the largest open-air markets in West Africa patronized daily by millions of people from West Africa and beyond, show that many of our people have embraced our relentless message on COVID-19.

“It is reassuring that the state has the capacity to manage cases should there be a spike. Apart from having teams of accomplished doctors, nurses, pharmacists, lab scientists, ward cleaners and ambulance who play vital roles in the COVID-19 case management value chain.

“There are 600 beds in different protective care units in our state, otherwise known as isolation centres.

The facility at the Onitsha General Hospital, with 58 beds, is the first centre in Nigeria to meet World Health Organization (WHO) standards.

“Still, we should not rest on our laurels. The disease, which is highly contagious, is far from over in our state.

In fact, we expect a spike in infections soon. With the commissioning of the Mega Laboratory at Chukwuemeka Odumegwu-Ojukwu University Teaching Hospital, Awka, capable of testing 470 samples for COVID-19 si-

multaneously, there is likely to be a rise in the number of infections.

“What is more, with the aggressive community search just initiated by the Obiano administration, which saw the government set up a COVID-19 Task Force in each of the 326 wards in the state so as to reach the grassroots in a radical manner, there is likely to be an increase in positive cases.

“We, therefore, have a responsibility to continue to guide our people to imbibe the habit of wearing face masks any time they come out in public, and wear them appropriately by covering their nostrils and mouths always, as opposed to the current practice where people wear the face covering on the chin and jaw.

“We also need to encourage our people to wash their hands for at least 20 seconds with running water and soaps and sanitizers. In addition, we have to observe social distancing by keeping away from people by at least six feet.

“The Anambra State government has recently started a campaign on ways to boost our immunity as part of the strategy to fight COVID-19.

0“Our system needs plenty of vegetables like bitter leaf (onugbu) and pumpkin (ugu) and fruits like lemons, oranges, avocados, etc, which are available in large quantities throughout the state and beyond in the rainy season and now sell at affordable prices. Our system needs things like Vitamin C, Vitamin D and Zinc for fortification. They are affordable.

“It is important to pass on this message to our people in different ways.

Preventing the spread of the coronavirus pandemic is far better than man- From Chris Eze, Yenagoa aging the cases.”

COVID-19: Bayelsa grants tax relief to individuals, businesses

Assembly clears nominees of Delta State Public Procurement Council

From JONATHAN AWANYAI, Asaba

T

he Delta State House has confirmed the nomination of the former Head of Service, Sir Okey Ofili, as the Chairman, Delta State Public Procurement Council.

Others also confirmed by the House are Mr. Edwin Eruno Abraka, a retired Permanent Secretary and Mr. Okezi Odugula as members of the Public Procurement Council.

The three nominees had appeared on the floor of the House for screening in line with the law establishing the Delta State Public Procurement

Council.

They were introduced by the various lawmakers representing their constituencies in the House.

Lawmakers at the plenary screened the nominees before they were asked to take a bow and leave the hallowed chamber.

The appointments were confirmed sequel to a motion by the Majority Leader, Tim Owhefere, seconded by the Deputy Majority Leader, Oboro Preyor.

Meanwhile, the leadership and members of the State House of Assembly have commiserated with the

Ogbabunor family of Udu over the death of Chief Austin Ogbabunor.

The Speaker, Sheriff Oborevwori, at plenary, prayed God to grant the soul of the former federal lawmaker eternal rest and enjoined members.

The Member Representing Udu Constituency, Peter Uviejitobor had at plenary of the house, brought to the notice of the House of the demise of Ogbabunor.

Ogbabunior represented Ughelli North, Ughelli South and Udu federal Constituency between 2011 and 2015 in the House of Representatives.

T

he Bayelsa State government has announced a tax relief of 50 percent for the informal sector and other tax reliefs to residents and business operators to cushion the effect of the COVID-19 pandemic on tax payers.

Executive Chairman, Bayelsa Board of Internal Revenue, Dr Nimibofa Ayawei, announced this in a statement issued at the weekend in Yenagoa. He said that the tax reliefs were approved by the state governor Douye Diri, as a show of sensitivity to the adverse impact of the coronavirus pandemic.

According to Ayawei, part of the concessions granted by the government was the extension

of the deadline for filing Form A returns for employee and annual returns to September 30 for companies and institutions operating in Bayelsa.

The statement further stated, “a waiver of penalty and interest until August 31, 2020 for outstanding Pay-As-You-Earn (PAYE) remittances.

“A waiver of penalty for all outstanding tax issues up to December 2019, for which the undisputed amounts are paid within 30 days post interstate lockdown.

“A 50 per cent discount on the personal income tax assessment for the informal sector in the year 2020 as contained in the minimum harmonized tax rates in Bayelsa. A 35 per cent discount on pool betting tax for year 2020.”

9

The Oracle Today Monday July 13 - Sunday July 19, 2020

NEWS

Nigerian students excel in Chevron’s engineering challenge

By Sopuruchi Onwuka

A

group of Nigerian students, who participated in a virtual “Engineering Design Challenge” to evolve technical solutions for communities in the pandemic season excited panelists who would now recommend them for investment support.

The event, which was part of the company’s efforts to promote quality science education in Nigeria and other parts of Africa, formed the inaugural edition of the Summer Engineering Academy (SEA) virtual conference, organized by the Africa Leadership Academy (ALA).

According to the company spokesman, Mr Esimaje Brikinn, the initiative is designed for highly motivated and talented high school students from Nigeria and Angola, who are inter-

ested in careers in Science, Technology, Engineering and Mathematics (STEM).

A total of 18 students (15 Nigerians and 3 Angolans) from various high schools participated at the event and generated proposals for which they tried to gain investment support by tackling the “Engineering Design Challenge” question: What technology would help my community navigate an epidemic?

Chevron has partnered with ALA since 2016 to support the AfriSTEM programme, which is designed to establish an AfriSTEM center of excellence through the recruitment and funding of STEM scholars into ALA’s Diploma programme. A group of Nigerian students at the virtual event won the best presentation award.

Highlighting the objectives of the event, Mr. Monday Ovuede, Director,

CNL/NNPC Joint Venture, who was one of the judges at the conference’s final presentation, conveyed Chevron’s continued commitment to the development of STEM education in Nigeria and other parts of Africa.

“I think the Nigerian students’ performance at the event shows that Nigeria has young talents with the drive and ability for critical thinking.

What we need is to continue to support and replicate events like this by providing the necessary artisan and technical support to enable our talented youths to bring their ideas into reality,” he stated.

Mr. Ovuede, who described Chevron’s involvement in the programmes as apt and valuable, advocated the establishment of technical competition among Nigerian and African universities in different fields related to STEM to further boost development

of the country and the continent.

Pedro Cesaltino, Manager, Chevron South Africa Business Unit and the Guest Speaker at the closing ceremony of the event, noted that the Summer Engineering Academy represents for the young people a very unique opportunity to be part of what’s going on in the world, and set themselves up to make a big difference.

Explaining further on Chevron’s commitment to STEM, CNL’s General Manager, Policy, Government and Public Affairs, Mr. Esimaje Brikinn highlighted some of the initiatives embarked upon by Chevron and its partners to advance STEM education in Nigeria. According to him, these efforts include the investment

by Chevron and the Agbami parties, of about N8.4 billion on the Agbami

SEPLAT appoints Onwuka as CFO, ED

NIRSAL pledges support for Nigeria’s agro-ventures From ANIEKAN ANIEKAN, Calabar

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he Nigeria Incentive Based Risk Sharing System for Agric Lending (NIRSAL) has reaffirmed its support for emerging agro businesses in the country.

Progress Uduzeli the head of Cross River State office of the organization disclosed this during the Ogoja Rice Investment Exhibition in Calabar.

The exhibition, tagged Ogoja Rice Investment Exhibition 2020 was organised by SANTUSCOM Agro Hub to enlighten investors in agro businesses on creating wealth through sustainable agricultural methods.

Uduzeli said nothing is impossible in the agricultural sector for any entrepreneur in the country and NIRSAL is a formidable partner in this regard.

He said: “NIRSAL will support entrepreneurs to whatever level they want to go and we are a formidable partner in agro businesses.

“We are happy to be part of this exhibition and felicitate with Santuscom who are one of our key stakeholders.

“They have demonstrated that nothing is impossible where there is a will and I am confident that this investment will succeed.”

The CEO of Santuscom Chief Paul Ofana said the Ogoja Rice utilizes the latest rice specie and investors will earn a 40 percent return on investment.

“Ogoja Rice is of the Cali55 rice specie, which sits on a 1000 hectares of land and right now we are expanding to 5000 hectares because of increasing demand.

“On your investment, we can assure of 40 percent return and that is why we are opening the space for investors to come in under the crowd funding platform and benefit from this attractive and guaranteed return on investment”, he said.

The Cross River State governor, Professor Ben Ayade commended the investors, saying that a gigantic step has been taken to guarantee food security in the country.

The governor, who spoke through his commissioner for commerce, Rosemary Archibong said there are numerous opportunities in the sector and called on young entrepreneurs to take advantage of this.

Medical and Engineering Professional Scholarships (AMEPS).“Since inception, over 16,300 students from all the states of Nigeria have benefitted from the Agbami Medical and Engineering Scholarships,which has recorded a total of 715 first class graduates. The Agbami parties have also donated 39 science laboratories and nine hybrid libraries to schools in different parts of the country,” he noted.

Mr. Brikinn stated that since 2016, Chevron and its Agbami parties have been organizing STEM symposiums and exhibitions in Nigeria with the objective to identify challenges and opportunities in Nigeria’s STEM education reforms and provide strategies to ensure that STEM education is elevated to a national priority.

T

• Enugu State Commissioner for Gender Affairs and Social Development, Princess Peace Nnaji (right), interacting with the 10-year old brutalized house-help by her guardians, Miss Nneoma Nnadi (on bed), when the state government’s delegation visited the victim at ESUT Teaching Hospital,Parklane, Enugu to empathise with her.

Stakeholders start dialogue to end insecurity in the Niger Delta From Aniekan Aniekan, Calabar

S

takeholders in the Niger Delta region have commenced moves to end the spate of insecurity in the region.

This was disclosed during a dialogue organised by the Niger Delta Dialogue (NDD) Secretariat in partnership with the European Union and AA Peace Works in Calabar.

Speaking during the dialogue, with the theme, “Insecurity in the South-South States: Issues, Actors, Solutions,” the convener of the NDD and former Ambassador to Ethiopia, Nkoyo Toyo said insecurity is a major threat to the region.

She said that years of security in the region has destroyed the region.

According to her, “insecurity is identified as the biggest threat to the region.

“Our region is very unsafe even for those who live in it and this made us engage independent re-

searchers who went across the region, took notes and try to unravel the causes of insecurity.

“They are also to provide a clear empirical evidence and the basis of conflicts in the region and try to understand what are the factors behind insecurity in a state by state basis.”

She said the dialogue is their contribution to solving a growing problem and the initiative is just the beginning of many other efforts to bring peace to the region.

The Speaker of the Cross River State House of Assembly, Eteng Jonas Williams commended the initiative and said that the assembly will strengthen the laws of the state as part of its contributions to bringing peace in the region He added: “This is one of the most intellectual approach to the issue of insecurity in the country and practical issues were being discussed and frankly.

“As a body, the lawmakers in the

House of Assembly will sit down again, gather all the information, look at our laws and improve on them.”

In their presentation, the research fellows, Ndifon Obi and Ken Henshaw presented a 14point-action plan to help quell the rising incidence of insecurity particularly in Cross River.

These include the creation of a peace building commission, revisiting the Green Tree Agreement between Nigeria and Cameroon, mopping up of small and light weapons, documentation of street kids, activation of extant laws regulating criminality, among others.

Other participants including Etinyin Etim Okon Edet, Ken Robinson, Senator Bassey Ewa Henshaw, Hon. Itam Abang among others lent their voices in support of the dialogue and called for an end to insecurity in the Niger Delta.

he Board of Directors of Seplat Petroleum Development Company Plc has announced the appointment of Mr. Emeka Onwuka as its Chief Financial Officer (CFO) and Executive Director of the Company.

The appointment takes effect from August 1, 2020, the company said.

Mr Onwuka has over 30 years’ experience in financial services within Sub-Saharan Africa. He has acted as the voice and face of major financial institutions in Nigeria.

He is a former Group Managing Director /CEO of Diamond Bank Plc and former Chairman of Enterprise Bank Limited.

He is a Partner at Andersen Tax Nigeria and holds various board positions, including chairman, FMDQ Securities Exchange Limited; director, FMDQ Holdings Limited; director, Ecobank Nigeria Limited and director, Bharti Airtel Nigeria.

Mr. Onwuka has a bachelors degree in Political Science from the University of Nigeria, Nsukka, and holds an MBA from the University of Benin. He is a Chartered Accountant, a fellow of the Institute of Chartered Accountants of Nigeria, a fellow of the Chartered Institute of Taxation of Nigeria.

He has attended executive programs at the Lagos Business School, Wharton Business School and Harvard Business School.

Mr. Onwuka holds the Nigerian National Honour, Officer of the Order of the Niger (OON).

The board of Seplat said it is confident that the wealth of knowledge and experience he brings will be a great addition to the company.

10

The Oracle Today Monday July 13 - Sunday July 19, 2020

NEWS

Anglican Church ends Synod, warns of spate of crime in Anambra

By Emeka Odogwu Emeka

T

he Diocese on the Niger, Anglican Communion, in Anambra State has raised an alarm over increasing crime rate in the state and called on the state governor, Willie Obiano to rise up to the challenge and stop the rising wave of crimes.

In a communique at the end of the 31st Synod of the Diocese held at St. Michaels Anglican Church Nnobi, the church condemned the increasing crime rate and called on the Government to halt the scourge.

The Synod also reminded the state government to fix the poor state of the urban and rural roads particularly with the advent of the rains.

Lamenting the ravaging erosion in the state, the Anglican faithfuls called on the State and Federal government to come to the rescue of the towns ravaged by erosion, especially with the incessant collapse of houses of Onitsha and Nnewi.

They called on the political class to ensure that a gentleman’s agreement is reached on zoning of governorship position in the to avoid unnecessary acrimony and bloodshed in the State.

The Synod commended Obiano and the Ministry of Education on efforts to meet the educational need of students during the novel COVID 19 pandemic through the program “Anambra Teaching on Air,” while calling on parents to ensure that their children participate in the scheme.

The synod was presided over by the Rt. Rev. Dr. Owen Chiedozie Nwokolo, Bishop on the Niger, assisted by other Archbishops including the Most Rev. Dr. Alexander Ibezim, Archbishop of the province of the Niger and Bishop of Awka Diocese, who represented the Archbishop, Metropolitan and Primate of all Nigeria, the Most Rev. Henry Ndukuba.

NGO warns that high intake of alcohol won’t cure Covid-19 From BONIFACE OKORO, Umuahia

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non-governmental organization has warned that excessive consumption of alcoholic beverages will not inhibit coronavirus infection.

The Geocet Planet Foundation gave the warning at a COVID-19 sensitization outreach held at UmuiguOboro in Ikwuano Local Government Area of Abia State.

The NGO explained that indulging in high intake of alcohol beverages would expose the consumer to health risks, including death, rather than cure COVID-19.

Addressing the villagers at Amangwu Town Hall in Ajatanigu Autono-

mous Community, the Executive Director of Geocet Planet Foundation, Uju Nwaka, advised the villagers to adhere to the COVID-19 protocols, like regular washing of hands with soap under running water or use of alcohol-based sanitizers, wearing of face masks in public, maintaining social distancing and avoiding crowds gatherings The Foundation’s Programme Manager, Patrick Esomuzor, advised the people to keep observing the by hygienic protocols as provided by health professionals to avoid contracting the virus.

Esomuzor emphasized the need for wearing of face masks in public places and gatherings, and avoiding

touching the face with unwashed hands.

In separate interviews, the Chairman of Oboro Traditional Rulers Council and the traditional ruler of Ajatanigu Autonomous Community, Eze Larry Ogbonnaya Agwu, the traditional ruler of Umuokeigbo kingdom, Eze Val Ohunta, Super High Chief Okeosisi Harbor and Mr. Ben Enyinnaya lauded the Foundation for embarking on the sensitization outreach.

They charged the villagers to imbibe the message of the Foundation to enable them to stay safe and contribute their quota to the fight against the spread of coronavirus disease in Abia.

• Delta State Commissioner for Works, Chief James Augoye (r), inspecting the Okpanam storm water drainage project in Asaba, which will channel flood water to “Iyi-Uku River” in Okotomi Quarters in Asaba, Friday

COVID-19: Motherless babies, others pray for Governor Umahi

By CHINEDU NWAFOR, ABAKALIKI

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otherless babies, vulnerable people in Ebonyi State have gathered to offer prayers to God for the quick recovery of the state governor, David Umahi, after he and some of his aides tested positive to COVID-19.

As part of activities to mark three days prayers for the Governor, the Forum of Ebonyi State Coordinators visited the motherless babies home at Nsugbe and the physically challenged, at Saint Theresa’s Catholic Church.

The Forum donated diapers, de-

tergents, toiletries, wipes and others, and an undisclosed amount of money to the motherless babies and the physically challenged persons.

Chairman of the Coordinators Forum, Beatrice Eze who is also the Coordinator of Izzi Development Centre, explained that they embarked on three days prayers and fasting for the recovery of Umahi and all those infected by coronavirus in the state, Nigeria and elsewhere.

Chairman, Nigeria Red Cross Motherless Babies Home, Mr. Simeon Nweze, disclosed that many people had been prayed for by the children and that the governor’s

healing would be miraculous.

“I thank the Forum for the gesture. The children here with our support will pray for the Governor.

So many people do come here for prayer and by the special grace of God their prayers are answered,” he said.

Speaking on behalf of the coordinators Hon. Agbo Sunday, the Coordinator of Effium Development Center, commended the Governor for his achievements, adding that he was confident God had answered their prayers for the Governor.

Ikpeazu charges Army recruits from Abia to be good ambassadors From BONIFACE OKORO, Umuahia

T • Gov. Obiano

he 79 Regular Recruit Intake of Nigerian Army from Abia State has successfully completed their training programme.

Welcoming the new intakes on behalf of the state government, the Secretary to Abia State Government, Chris Ezem, charged them to be good ambassadors of the State in their various areas of deployment.

Ezem said having gone through

the rigorous and nerve-breaking trainings of the Nigerian Army, they must imbibe the spirit of discipline, which remains one of the core values of the military.

The SSG counselled them to take necessary steps to improve themselves academically as it remains the easiest route for them to attain the officer’s cadre.

He prayed that the challenges they would encounter in the course of discharging their duties would

not consume them and advised them to always operate according to their rules of engagement.

Earlier, the spokesman of the delegation, Private Chisom Esomchi, said they were grateful to Almighty God for seeing them through their training and have come to thank Governor Okezie Ikpeazu for supporting them.

The promised not to indulge in anything that would bring reproach to themselves and Abians.

NARTO appeals to members against raising fares due to passenger reduction From BONIFACE OKORO, Umuahia

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he Chairman of National Association of Road Transport Owners (NARTO) in Abia State, Deacon Amobi Ohaeri, has appealed to members of the association not to increase transport fares as a result of the reduction in the number of passengers they carry.

In an interview, on Sunday, with The Oracle Today, Ohaeri said members should see the development on the non-increment of transport fares as their contribution to the fight against COVID-19.

As part of measures adopted during the COVID-19 lockdown, transport operators were required to reduce by 50 percent the number of passengers they carry. Tricycle operators were to carry a maximum of two persons, instead of four; minibuses were alotted maximum of five, instead of seven passengers while 14-seater or 18-seater buses were to carry a maximum of seven passengers.

The government equally mandated all drivers and passengers to wear face masks throughout their trip; just as all Intra- and interstate transporters were directed to strictly observe curfew time of 10 p.m to 6 a.m as directed by Federal Government.

Ohaeri expressed satisfaction that his members have been obeying the guidelines, as part of their contribution to the fight against the COVID-19 pandemic.

He said: “Our members now wear their face masks and a lot of them have sanitizers in their vehicles for passengers, especially those without their sanitizers.

“The challenge now is the number of passengers to carry. We are pleading with them not to increase transport fare, which they really have obliged.

“We have made them understand that we have to make sacrifices in order to cushion the effects of the Covid-19 pandemic.

We know they are thinking of not making enough money based on fewer passengers.

“The inter-state travel ban affected us very adversely because our livelihood depends on moving people and goods.

“We are happy that it has been lifted as it would afford our members the opportunity to put food on their table.”

11

The Oracle Today Monday July 13 - Sunday July 19, 2020

NEWS Extra Umahi orders EBSIEC to conduct council elections

BY CHINEDU NWAFOR, ABAKALIKI

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he Ebonyi State Governor David Umahi has ordered the State Independent Electoral Commission (EBSIEC) to commence activities for the conduct of local government elections in the State.

A statement signed by Samuel Okoronkwo, the State Commissioner for Local Government, Chieftaincy Matters and Rural Development and Orji Uchenna Orji, Commissioner for Information and State Orientation in Abakaliki, noted that the elections were earlier scheduled for April 2020, but Umahi suspended it, citing the coronavirus pandemic.

The Peoples Democratic Party (PDP) and some other political parties had already concluded primary elections before the exercise was suspended.

Following the expiration of the tenure of the elected chairmen on May 29, and the indefinite postponement of the polls, Umahi appointed and inaugurated caretaker chairmen for the 13 councils in the state.

Penultimate week, a lawyer, Kelechi Chukwu, dragged the Governor and EBSIEC to court seeking the nullification of the appointment of the caretaker chairmen.

He also urged the court to order for fresh elections to be conducted within 90 days, arguing that Umahi’s action was unconstitutional.

It is not clear if the suit was responsible for the reason for lifting the suspension of the electoral process.

The statement reads: “In exercise of his powers under Ebonyi State Coronavirus and other Dangerous (Infectious) Diseases and Related Matters Law, 2020 and Regulations thereof and all other enabling laws thereto, the Governor of Ebonyi State, His Excellency Engr. Chief David Nweze Umahi has issued Executive Order lifting the suspension of Electoral Processes and Political Activities for the 2020 Local Government Elections in Ebonyi State.

“To this end therefore, the Governor has directed Ebonyi State Independent Electoral Commission (EBSIEC) to immediately commence activities for the conduct of the 2020 Local Government Elections in the State as required by law.”

• Gov. Umahi

NDE boss laments high rate of unemployment in Nigeria

By CHINEDU NWAFOR, abakaliki

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HE National Directorate of Employment (NDE), has lamented the high rate of unemployment in Nigeria, saying that the development remained a serious threat to Nigeria’s quest for full development.

Director-General of the NDE, Dr. Mohammed Argungu said this in Abakaliki, Ebonyi State capital, during the flag-off of the empowerment of 1,130 women and youths of the state under the Micro Enterprises Enhancement Loan Scheme (MEES) of the Federal Government.

The beneficiaries were given

N10,000 each as loans with 9 percent interest rate to start up small businesses, which the DG said would make them self reliant and reduce unemployment in the country.

The empowerment was done by NDE in collaboration with the member representing Ezza South/Ikwo Federal Constituency in the House of Representatives, Hon. Chinedu Ogah; Chairman Revenue Mobilization, Allocation and Fiscal Commission, Chief Elias Mbam; and Woman Leader, Princess Tonia Adol-Awam.

Argungu, who was represented by the NDE state Coordinator, Marcel Igboanude, said the repercus-

sion of mass unemployment if not properly addressed, will adversely affect the overall development objectives of the nation.

“Unemployment has indeed been a serious threat and that is why it features highly on the development agenda of most governments, donor agencies and other development partners across the globe. “it is apparent that Nigeria as a nation is highly endowed with both human and natural resources. However, unemployment remains one of the various serious challenges mitigating against its march to full development”, he said.

• Special Adviser to Lagos State Governor on Tourism, Art and Culture, Mr. Solomon Bonu (m) with Chief Nike Davies Okundaye (l), owner of the Nike Art Gallery, inspecting artworks during a visit to art centre in Lagos, Friday

Okonkwo harps on service as Anambra Town Unions endorse aspiration

By KODILINYE OBIAGWU

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OVERNORSHIP aspirant in the 2021 polls in Anambra State, Dr. Obiora Okonkwo has restated his desire to offer service in the state if he is so empowered.

The business mogul and member of the People’s Democratic Party (PDP) made the declaration to Anambra indigenes in Abuja, under the aegis of Association of Anambra State Town (Peoples) Associations (ASTPA).

Okonkwo stressed, “I want to serve. I have always said that politics is not about making money; it is about sacrifice and service. If you want to make money, you go into business. Service is a people-centric agenda.

“If empowered, we will focus on education, healthcare, agriculture unemployment, wealth creation, human capital, ICT development.”

ASTPA described the 2021 governorship election in the state as too critical to be left for a few people to decide the outcome.

At an event organized by the

Dikeora 2021 Ambassadors in Abuja, friends and supporters of the governorship ambition of Okonkwo, the President-General of ASTAP, Ike Iwenofu, said Anambra must take its rightful place on the ladder of serious states by electing people with the right vision.

According to him, the 2012 election is so critical that “we can no longer leave it to those at home. We must become part of the process to ensure we elect the most credible candidate with the right vision to lead the state.”

He called on Anambra in Diaspora to be part of the electoral process by registering to vote and by mobilizing grassroots support for Okonkwo.

Iwenofu noted that the aspirant was eminently qualified to lead the state into higher levels of development because of his pedigree.

“Okonkwo has said that he is available to serve Anambra, but that he can only do that if it is the will of God. This is humility.

Anyone will God will certainly achieve anything worthy.

“Anambra is said to be the home

of billionaires. How far have we gone with leadership? The state is what it is today because of absence of leadership. Am certain this will change as we have Okonkwo, someone who is capable of galvanizing the people with a visionary leadership.”

AVM Osita Obierika, one of the leaders of Dikeora Ambassadors, said that good governance and development come with visionary leadership.

He said, “Anambra must think of a leadership that will deliver good governance for the greater number of the citizens.

“Anambra deserves a leader with ideas, a network of goodwill locally and from abroad that could translate to investments.

“With what we have seen in Anambra recently, I am convinced Okonkwo has the capacity to make things better.

The Chairman of the Ambassadors, Chief Dennis Anakwe, said the quest to enthrone a leadership that will transform the state and make it the envy of all is a duty for every registered voter in Anambra.

PFN claims spiritual forces are contesting with medicine in cure for COVID-19

From BONIFACE OKORO, Umuahia

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he Pentecostal Fellowship of Nigeria (PFN), Abia State chapter, has claimed that finding a cure for COVID-19 would remain a mirage until the spiritual forces behind the disease were dismantled.

Abia PFN Secretary, Rev. Blessed Amalambu, who is the Founder and General Overseer of Umuahiabased Christ Generation Ministries, made the claim at the end of a prayer session organized by the Christian Association of Nigeria (CAN) at Methodist Church Nigeria John Wesley cathedral, Umuahia.

He said that, “the prevailing situations in our country now need radical approach of which this prayer session is very timely. The COVID-19 pandemic needs collaborative efforts of all stakeholders.

“While medical personnel take care of the pathogens that cause the disease, the pastors will take care of the spiritual forces behind the pathogens.

“Until the spiritual powers behind this COVID-19 are arrested, no medical treatment or other measures will give the desired results.

We, the Ministers of the Gospel of Christ, know this secret.

“We appeal to the government not to push the church aside. I have the confidence that the prayers made by the CAN will break the backbone of the COVID-19 stronghold.

“Let everyone know that with God all things are possible, and to Him that believes all things are possible,” he added.

He expressed optimism that all the victims of COVID-19 would be nursed back to good health and particularly prayed for perfect healing of the state governor, Dr Okezie Victor Ikpeazu.

Abia State government, had during the occasion, appreciated leaders of CAN for not only assisting government in the onerous task of leadership but for also being in the vanguard of preaching strict compliance to Covid-19 protocols aimed at preventing the spread of the deadly virus .

The Chairman of Abia State Interministerial Committee on COVID-19 and Secretary to the State Government (SSG), Chris Ezem, commended CAN for the prayers in the fight against COVID-19.

In their remarks, Chairman of CAN, Abia Chapter, Apostle Dr Emmanuel Agomuo, and the Archbishop of Methodist Archdiocese of Umuahia, Archbishop Chibuzo Opoko, praised the state Inter-ministerial Committee on COVID-19 for their roles in containing COVID-19 in the state and distribution of palliatives.

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The Oracle Today Monday July 13 - Sunday July 19, 2020

NEWS Host communities demand V/C position for indigene at MOUAU From BONIFACE OKORO, Umuahia

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he host communities of Michael Okpara University of Agriculture, Umudike (MOUAU), have launched a campaign for the appoinment of an indigene as the next vice chancellor of the university.

The campaign came to the fore when two groups, Progressive Citizens Forum for Tertiary Institutions Abia State, Traditional Rulers of MOUAU Land Donor Communities demanded that the sixth VC of MOUAU should be of Ikwuano/ Umuahia South extraction.

They insisted that the host communities have qualified sons and daughters capable of serving in that capacity.

Five Vice Chancellors, appointed from the catchment area of the South East states have presided over the affairs of the 28-year-old institution founded in 1992.

MOUAU’s pioneer VC (1993 and 1999) was Professor Placid Njoku.

He was succeeded by Professor Ogbonnaya Onwudike (January 2000 - February, 2006) from Abia.

Others are Professor Ikenna Onyido, Anambra State (2006 -2011), Professor Hilary Edeoga, Enugu

State, and the current VC, Prof Francis O. Otunta, from Ebonyi State, since March 1, 2016.

Otunta’s tenure is expected to terminate by the end of February 2021, and with the rotation complete, it is expected that the position would revert to Abia, hence the campaign by the host communities for an indigenous VC. During the meeting, the agitators told their guests that since the inception of MOUAU, none of their sons has emerged as the Vice Chancellor.

Immediate past Chairman of the Traditional Rulers of MOUAU Land Donor Communities, Eze Christopher Ejirika, insisted that time has come for a qualified professor from the host communities to occupy the Vice Chancellor’s seat.

The leader of Progressive Citizens Forum for Tertiary Institutions Abia State, Chief Chinkwe Ndimele, said the body intends to persuade the authorities to look the way of MOUAU’s land donor communities in appointing the next VC. “For the first time we are making this request, so the Federal Government should pay heed to our request,” Ndimele said.

Assembly clears nominees of Delta State Public Procurement Council he Delta State House has confirmed the nomination of the former Head of Service, Sir Okey Ofili, as the Chairman, Delta State Public Procurement Council.

Others also confirmed by the House are Mr. Edwin Eruno Abraka, a retired Permanent Secretary and Mr. Okezi Odugula as members of the Public Procurement Council.

The three nominees had appeared on the floor of the House for screening in line with the law establishing the Delta State Public Procurement Council.

They were introduced by the various lawmakers representing their constituencies in the House.

Lawmakers at the plenary screened the nominees before they were asked to take a bow and leave the hallowed chamber.

The appointments were con-

firmed sequel to a motion by the Majority Leader, Tim Owhefere, seconded by the Deputy Majority Leader, Oboro Preyor.

Meanwhile, the leadership and members of the State House of Assembly have commiserated with the Ogbabunor family of Udu over the death of Chief Austin Ogbabunor.

The Speaker, Sheriff Oborevwori, at plenary, prayed God to grant the soul of the former federal lawmaker eternal rest and enjoined members.

The Member Representing Udu Constituency, Peter Uviejitobor had at plenary of the house, brought to the notice of the House of the demise of Ogbabunor.

Ogbabunior represented Ughelli North, Ughelli South and Udu federal Constituency between 2011 and 2015 in the House of Representatives.

CHANGE OF NAME

CHANGE OF NAME

I formerly known as CHINYERE CHRISTIANA NKECHINYERE NGO now wish to be known as CHUKWUEBUKA CHINYERE CHRISTIANA. All former documents still remain valid. Please Banks and General Public take note.

I formerly known as EZEH MARTINS OKECHUKWU now wish to be known as EZEA MARTINS OKECHUKWU. All former documents still remain valid.

Please Banks and General Public take note.

CHANGE OF NAME

CHANGE OF NAME

I formerly known as IBEMERE ISIDORE IBEMERE now wish to be known as IBEMERE ISIDORE CHIMA. All former documents still remain valid. Please Banks and General Public take note

I formerly known as AGBAZUE PRISCA CHINENYE now wish to be known as CHINEWUBEZE PRISCA CHINENYE. All former documents still remain valid.

Please Banks and General Public take note.

From JONATHAN AWANYAI, Asaba

T

CHANGE OF NAME I formerly known as ANAELE PRISCA CHIMEZIRIM now wish to be known as NNABUGWU PRISCA CHIMEZIRIM. All former documents still remain valid.

Please Banks and General Public take note.

THIS SPACE IS FOR SALE

• Oyo Governor, Gov. Seyi Makinde (r) and other dignitaries including the state Chief Judge of Oyo State, Hon. Justice M. L. Abimbola, and State Attorney General and Commissioner for Justice, Prof. Oyelowo Oyewo during the commissioning of the Oyo State Family Court at the High Court of Justice, Iyaganku, Ibadan, Thursday

Lawmaker fetes widows, the sick, vulnerable on his birthday, faults social welfare scheme From OZO RAY

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HE lawmaker representing Anambra-East state constituency in the State House of Assembly Obinna Chris Emeneka, used the occasion of his 42nd birthday celebrations to fete widows, distribute palliatives to them, sickle cell patients and other vulnerable groups.

Emeneka distributed COVID-19 personal preventive equipment (PPE) to his constituents and signed a N20 million deal with a pharmaceutical company for the provision of chloroquine and other drugs for the management of coronavirus infections.

He said he chose to celebrate with widows and other vulnerable groups to give them a sense of belonging and also make them realise that they were not alone.

The lawmaker conducted free medical services for his constituents and said he understood the plight of vulnerable groups, but emphasized that he would not renege on his philanthropy because they deserve the very best of care and social welfare scheme.

According to him, widowhood was not a death sentence and that widows should not wallow in self-pity and self-condemnation but muster the courage to stand against all forms dehumanization and molestations such as rape, sexual assaults as well as gender prejudices meted out on them and their daughters.

Emeneka admonished over 500 widows together with people living with sickle cell anaemia and other indigent persons who thronged his Awka residence for the celebration, Impressing on them that COVID-19 was not a hoax and that they should endeavour to spread the message down to the grassroots while maintaining all the protective guidelines against COVID-19.

He said that the advent of the novel coronavirus disease has made all and sundry susceptible to the virus, including the rich in the society whom he said are also crying at the moment due to the contagious disease and ravaging pandemic.

The third term lawmaker, noted that the state governor, Willie Obiano, has done more than enough to protect citizens from the trag-

edies of the contagious COVID-19 but expressed concern that in spite of the governor’s efforts, people have turned deaf ears to the warnings of the state government especially as it relates to violation on the use of facemasks as well as other COVID-19 prevention protocols.

He stressed that the governor has taken the horse to the stream but he cannot compel it to drink water from the stream as he urged the women folk who adorned their facemasks to take responsibility to ensure that the message of COVID-19 prevention got to the villages and communites to forestall the spread of the coronavirus in the hinterlands.

According to him, “the only thing I can do in appreciation to God’s mercy upon my life is to extend palliatives to the vulnerable and to tell them also that being a widow or being vulnerable is not the end of life but a means to an end. That as a widow one still has very pivotal role to play in life. You should champion advocacy for emancipation from sexual assaults which is rampant in our society today.

“You also have a role to sensitise our people on this dreaded COVID-19. As widows you have so many roles to play in the society. You shouldn’t see yourselves as marginalized or vulnerable rather you should see yourselves as rolemodel mothers in your various homes.

“As you can see, the rich now cry and if the rich can cry because of COVID-19, what becomes the fate of the downtrodden? I decided in appreciation of God’s mercy and kindness upon my life to use this birthday celebration to extend my palliatives and monetary donations to the widows and vulnerable groups of Anambra-East and beyond.”

Emeneka harped on the need for the well-to-do individuals to extend a hand of giving to those who do not have, and emphasized that service to humanity was one of the ways one can bequeath a lasting legacy to society.

He explained that the palliatives given to the beneficiaries was in line with the poverty alleviation programme of the wife of the governor Mrs.Ebelechukwu Obiano through her non-governmental organization, Caring Family Enhancement Initiative (CAFE).

The lawmaker said that all forms of obnoxious cultural practices against widows should be condemned and perpetrators of such inhumane traditional norms against women who have lost their husbands, should be brought to justice.

The Speaker of the state house of assembly Uche Okafor endorsed the initiative, saying that what Emeneka was doing was truly outstanding. Okafor said vulnerable groups were a special class of people with special needs and that helping to ameliorate their situation was worthwhile.

The Speaker noted that the state assembly stands against any form of ill-treatment against women especially widows. He said, “we have a law in the Anambra State House of Assembly that every woman has right to life as enshrined in the constitution of the Federal Republic of Nigeria. That a woman is a widow does not make her less a citizen of Nigeria or of Anambra. No woman should be subjected to any cultural or traditional malpractices because she lost her husband. There is also no justification for rape because rape is evil.”

The state commissioner for Women Affairs Lady Ndidi Mezue and the lawmaker representing Onitsha-North 2 state constituency in the house of assembly, Edward Obiefuna Ibuzo, extolled Emeneka’s decision to dedicate his 42nd birthday celebration to the widows as well as other vulnerable persons.

They also commended him for dolling out palliatives to the women to ease their sufferings and hardships occasioned by the coronavirus pandemic.

Mrs. Felicia Mbanefo of Umueri Community, Mrs. Elizabeth Ofoka, from Umueri, and other widows and beneficiaries of the COVID-19 palliatives distributed by Emeneka, shared their experiences. They said that as widows, some cultural practices were not in their favour but they find solace and respite in humanitarian gestures like the relief materials given to them by the lawmaker.

Meanwhile over 1000 bags of rice, noodles, face masks, handsanitizers and a one million naira cash donation were handed over to the beneficiaries.

POLITICS The Oracle Today Monday July 13 - Sunday July 19, 2020

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Why PDP as an opposition party is dead in Imo State, by Egu Former Commissioner for Information and Strategy in Imo State, George Egu, is a vocal voice of the People’s Democratic Party (PDP) in the state, having played opposition politics for years. He spoke to COLLINS UGHALAA on how the PDP died in the state, the scrapping of pensions for former governors, deputy governors, speakers and deputy speakers of the state assembly and members of the assembly.

Excerpts: YOU have been quiet but you used to be a vocal voice in the PDP in Imo I am no longer in the PDP; I left in 2018. I left when the governor, Hope Uzodimma left, that was when he was in the Senate. That was when he left too. There is not much to talk about really. Imo is a mixed bag. During the last election there was a miscarriage of justice that left power in the hands of the former governor, Emeka Ihedioha for about seven months. We are watching. We are loyal party members.

almajiri schools, five in each senatorial zone of the state. The issues are very sensitive and they were trying to incite the people against the Governor. No government will tolerate that.

Nwaogwugwu does not know the difference between propaganda and blatant lies. Propaganda contains elements of truth but blown out of proportion. But this man wakes up one morning and begins to churn out blatant lies against the Governor. It was not the Governor that arrested him. It is the law of the land that arrested him for peddling falsehood against the Governor. The seven count charges against him are very plain, and any lay person can see the severity of the charges. There is nothing like illegal detention.

How did you see the defections especially with the former state chairman of the PDP, Chief Charles Ezekwem, leading other members of the state exco to the All Progressive Congress (APC)?

The PDP died more than two years ago when Hope Uzodimma left with all of us.

The PDP we struggled to build according to the constitution of the party was destroyed by people like Ihedioha with inordinate ambition. That was why the bookmakers did not consider the PDP during the last elections. So many people left the party the moment he left. He did all he could to stop the PDP from dying in Imo, but Ihedioha insisted that the party must die.

How can you assess Uzodinma’s performance so far?

It would also be an unfair when you start making short term assessments of a governor in a system where there is no stability.

The Governor got into office in January 2020 and he has been looking at the condition of things in the state at all levels. It is still early to judge the governor. Let us give him some time.

What do you think about the action where the state government recovered two vehicles from top members of the PDP and the party accused the government of highhandedness?

It was wrong for Ihedioha to have used state money to buy vehicles for his party. The practice is that when the party executive is elected, they raise funds to run the party. In 2001 when Dr. Alex Obi was elected the state PDP Chairman, he organized a fundraising event about a month after his election. He used the money to buy vehicles for the members of the state working committee and local government area chairmen. Incidentally, the highest donor at that fundraising was the incumbent governor, Hope Uzodimma.

The then governor, Chief Achike Udenwa made a personal donation. Donations also came from the deputy governor, Ebere •Sir George Egu, former Commissioner for Information and Strategy in Imo State, and onetime Udeagu, the Speaker, and many others. That state secretary of the state PDP was how the party raised fund for running the party. When Ikedi Ohakim was governor, and Eze Duruiheoma (SAN) was Chairman and I was Secretary, we also organized a fundraising and used the money to buy vehicles and to run the party.

Do you fault the PDP claim that former governor, Senator Rochas Okorocha also bought vehicles for the APC? The Okorocha example is not a good one.

I have given examples of people who knew what they were doing in government, people who ruled according to the books.

The arrest of the Director General of the New Media Directorate of the PDP, Ambrose Nwaogwugwu, by the DSS, was seen as a clampdown on opposition by the government...

There is nothing like clampdown of opposition in Imo. It is wrong for someone to wake up in the morning and churn out lies against the Government and the Governor. Those

“ “

The PDP died more than two years ago when Hope Uzodimma left with all of us. The PDP we struggled to build according to the constitution of the party was destroyed by people like Ihedioha with inordinate ambition

who sent the DG on that errand intended to destroy him. How could someone publish a press release alleging that the state Governor wanted to rename the Imo State University (IMSU) to Abba Kyari University,

then forge official government letterhead and use put the name of the Governor’s CPS? This does not work in a decent society.

Recently, a press release was flying all over the place that the Governor had created 15

What do you think about the repealing of the CGC Law and the law that allowed pensions for former governors and others?

The CGC Law was an aberration, a thoughtless creation that served no purpose. It was there for the governor to have political hold on the grassroots. Rochas Okorocha didn’t sign that law in the interest the people and so the abolition of the law is the best decision the Uzodinma has taken. I don’t think don’t think that many people will criticise the repealing of the law on the pensions for governors and their deputies. What a former governor made for four or eight years in office should last him for a 100 years. Another issue is the security vote. I learnt that former governor, Emeka Ihedioha was taking N350 million monthly as security vote. Check what that adds up to in one year, four years or eight years. The state caters completely for a governor, providing for all his needs while in office. Should the state continue to take care of him when he leaves office? The former speaker was collecting N25 million monthly as security vote. I learnt that the deputy speaker collects N13.5 million as security vote. Many civil servants in the state earn the basic salary of N30,000. Other states should borrow a leaf from Uzodimma.

What is your advise to the people of the state?

I advise Imo people to be patient with the Governor. The Governor went through a difficult time coming into office. After his contest with Okorocha in the party, his mandate was stolen and he went to court to retrieve it. He just got this mandate about five months ago.

It is not easy. He should be given some time to settle. But there are things he should be doing; but let us not stampede him. Maybe after one year we will start to assess him. I advise those in a hurry to pass judgement to give the governor sufficient time.

The Oracle Today Monday July 13 - Sunday July 19, 2020

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The Oracle Today Monday July 13 - Sunday July 19, 2020

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The Oracle Today Monday July 13 - Sunday July 19, 2020

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NEWS

East Africa leads pandemic era economic growth E conomic disruption caused by the COVID-19 pandemic has pushed East Africa’s growth projection for 2020 down to 1.2 percent, a rate that outstrips other African regions and is forecast to rebound to 3.7 percent in 2021, according to the African Development Bank’s East Africa Regional Economic Outlook 2020.

The projection is under the baseline scenario that assumes the virus is contained by the third quarter of this year.

Prior to the COVID-19 pandemic, the region’s economic growth was projected at more than 5 percent, well above continent’s average of 3.3 percent and global average of 2.9 percent.

However, COVID-19-induced shocks and a locust invasion have contributed to job losses, increased humanitarian needs and will aggravate poverty and income inequality.

In the worse-case scenario, in which the pandemic persists until the end of 2020, growth is projected at 0.2 percent, still above Africa’s predicted average of -1.7 percent and -3.4 percent under the two scenarios.

At the launch of the report held in Nairobi on Wednesday, Simon Kiprono Chelugui, Cabinet Secretary of Kenya’s Ministry of Labour, said East African countries could overcome the effects of COVID-19 and turn their economies around by mitigating the external and domestic risks.

“We need to implement a decisive and coordinated response to contain the spread of COVID-19; mitigate its health and socio-eco-

nomic effects; accelerate structural transformation; improve the investment climate, and maintain the peace and security of our region,” he said.

The Regional Economic Outlook indicates that the COVID-19 pandemic will affect East African economies in many ways, such as falling commodity prices and trade, and restrictions on travel with a consequent negative impact on tourism. Waning financial flows have affected the region’s fiscal and current account balances, while disruptions in supply chains have hurt food production and distribution. With schools closed, an estimated 90 million learners have been excluded from the classroom.

Nnenna Nwabufo, the Director General of the Bank’s East Africa Regional Office, pledged Bank support to steer the region out of the crisis.

“Our ambition is to address the adverse effects of COVID-19 pandemic and ensure that social and economic development across the continent is accelerated, including through the creation of an African workforce of the future,” she said.

She noted that the Bank had responded swiftly to provide urgently needed support to address the immediate impacts of the COVID-19 pandemic, including support of $212 million to Kenya, $165 million to Ethiopia, $4 million to South Sudan and $10 million to the Seychelles.

Nwabufo called for a collective effort to address the development challenges such as

abilities to domestic and external shocks,” said Dr Marcellin Ndong Ntah, a Bank Lead Economist.

As well as investigating the impact of the COVID-19 pandemic on the region, this year’s report placed particular emphasis on “Developing East Africa’s Workforce for the Future”. To nurture skills for the future workforce, there is an urgent need for broad reforms in education, investment in education technology, addressing factors that stop children from attending school and establishing •Chairman, National Oil Corporation (NOC) of Egypt, linkages between acaEng. Mustafa Sanalla, sits with the CEO of Eni, Mr. Claudio demia and industry, said Edward Sennoga, a Bank Descalzi at the NOC headquarters in Tripoli Lead Economist, and anCOVID-19, rising public debt, and the locust other of the report’s authors. invasion, in order to re-direct the nations to- Julius Mukunda, Executive Director of the wards a sustainable development pathway.

Civil Society Advocacy Group in Uganda, The report’s authors called for urgent pol- said in order to nurture growth, East African icy measures to cushion the effects of the nations must stamp out corruption, and inCOVID-19 pandemic. vest in areas in which the region has unique “East African countries should accelerate a strengths, such as food production, not only real structural transformation by transitioning to provide food, but also income for farmfrom low value-added production to higher val- ers to help them to mitigate the effects of ue-added activities that could mitigate vulner- COVID-19.

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The Oracle Today Monday July 13 - Sunday July 19, 2020

Feature

By THEO RAYS

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learly, the 2021 governorship election in Anambra State is an opportunity for politicians and political parties to achieve a political goal.

Those aspiring to succeed the incumbent governor of the State Chief Willie Obiano through the election are making moves and strategizing towards the election.

The leading political parties in the State are already receiving a handful of aspirants who wish to take over the helm of affairs at the government house in Awka.

Analysts say the political parties have a duty to field credible candidates and work hard if they wish to win the election and move to the next level.

As the case of every election, political parties need victory in Anambra to make progress in the Nigeria political landscape. To the All Progressive Grand Alliance (APGA) ruling party in the State, it is an opportunity to consolidate the grip as the strongest party in the State. APGA has been occupying the government house since 2006. For the All Progressives Congress (APC) the ruling party at the center, the 2021 poll is an opportunity to move Anambra to the centre and advance APC to the next level in the South East geopolitical zone.

The People’s Democratic Party (PDP) the main opposition party at the national level, the poll is an opportunity to regain the State it lost in 2006 and also advance its strength in the South East geopolitical zone. The party holds three states, Abia, Ebonyi and Enugu.

Other political parties like the Young People’s Party (YPP), Social Democratic Party (SDP), Accord and Labor Party amongst others will also use the opportunity of the election to test their power and might. However, unless the unexpected happens, the election will be a three horse race between APGA, APC and PDP. As in every election, the success of a political parties depends on its candidate.

So far each of the three main parties could boast of aspirants who command the level of popularity and acceptability needed to win the election.

For the APC, the Managing Director of National Inland Waterways Authority (NIWA), Chief George Moghalu could be the ideal choice. Looking at the APC in Anambra there is no doubt that Moghalu stands taller than others and holds the ace in APC moving to Government House. To APC members in Anambra, the issue of moving Anambra to the centre is long overdue and the 2021 poll is the ideal time to achieve it.

Analysts say Moghalu is not a wrong choice. According to a current affairs analyst in Awka, Dr Ejike Nwangwu, Moghalu ”is evergreen and definitely among the political first eleven in Anambra at the moment.”

Nwangwu said that “from the point of those who have been groomed via the political process to lead Anambra, Moghalu stands taller than others.” He noted that Moghalu is amongst the few politicians in Anambra that has been actively involved in politics at the national level since 1999.

At first, Moghalu served as the National Secretary of the defunct All People’s Party, (APP) and later All Nigerian People’s Party (ANPP). He was the governorship candidate of the defunct All Nigerian People’s Party (ANPP) in 2003. As governorship candidate of ANPP in 2003, he worked closely with the late Senator Chuba Okadigbo.

Moghalu remained in ANPP until the party joined forces with other parties such as Action Congress of Nigeria, (ACN)

2021 election: Moghalu is APC’s ace for taking Anambra to the center

• Chief George Moghalu

“ “

All engineering design - conceptual, front end, detailed design, were done outside the country.

But today as we speak, eighty percent of all engineering design is done in the country, which is an amazing achievement. Can you imagine the capital flight when we did all those kinds of designs outside the country? and Congress for Progressive Change (CPC) to form APC in 2015. At that point he emerged as the National Auditor of APC. In 2019, he was re-elected as the National Auditor of APC before he was appointed to head NIWA by President Muhammadu Buhari.

Professor Joe Nnadirinwa, said that Moghalu’s “profile depicts consistency and loyalty, which is lacking in the system. In a country where politicians crosscarpet from one party to the other, Moghalu has distinguished himself as a trusted loyalist.”

The don said that “this politics of con-

sistency and loyalty is needed in a place like Anambra. The state needs someone like Moghalu who will be consistent in his decisions not the type that will make a promise and renege, not the type that will betray when trusted and not the type that tell lies when he speaks.

“I am sure he will be loyal to relevant stakeholders. To be loyal means to be available and accessible, to have an open door and listen to someone or the people who want to talk to you, hear them out and do what they ask you to do for them. That’s the kind of a leader the people wish to have at the government

house.”

In addition to consistency and loyalty, Moghalu has no doubt gained enough exposure and experience needed to lead Anambra. He is one of the few politicians that has enjoyed the privilege of working with all seasoned politicians across geopolitical divides.

He parades a strong political connection, which would make it possible for him to reach out to all national quarters easily if elected Governor of Anambra. This is an advantage that could be very difficult to derive from other aspirants that are eyeing the seat.

The party has to take advantage of Moghalu’s good name, experience and connections and make a strong case before the electorate in Anambra. An interesting thing about Moghalu is that he is from Anambra South Senatorial District, which is largely favored to produce the next Governor following the clamor for zoning.

The President of the State Chapter of Ohanaeze Ndigbo, Chief Damian Afam Ogene, in a statement had called on political parties to choose their candidates from Anambra South and allow South to produce the next Governor because it is their turn.

Intersociety a right group based in Onitsha, declared that zoning is not negotiable. Intersociety in a statement signed by its Board of Trustees Chairman Comrade Emeka Umeagbalasi, supported Anambra South to produce the next Governor of Anambra.

With such supports from different quarters, it is left for the leaders and members of APC to look at the issue of zoning among other things and consider someone like Moghalu for the 2021 poll.

But the questions are: are they willing and ready to take advantage of his outstanding quality to advance the cause of the party in the State? Are they willing and ready to look beyond immediate gratification and invest for a better future? With money bags as governorship aspirants in APC the question is whether they have what it takes to win an election in Anambra?

Money politics is a factor militating against the process of electing quality people into elective positions in Anambra. This was the case of APGA in Anambra in the 2019 general elections. APC should give room for a credible aspirant who can win the governorship polls in Anambra.

Moghalu as governor will expose APC. With his popularity and acceptability at State and national levels a lot will happen under his administration as Governor of Anambra.

Certainly, the chances of APC in Anambra depends on two major factors: the interest of the people to connect their State to the centre and a credible candidate, popular and acceptable enough to the people. Under the circumstances, Moghalu is the candidate that can move the party to the Government House in Awka and to the centre in Abuja.

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The Oracle Today Monday July 13 - Sunday July 19, 2020

Covid-19

Delta goes tough on COVID-19 protocols defaulters, sets up mobile courts From JONATHAN AWANYAI, Asaba

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he Delta State Government has said that it would take stringent measures to ensure full compliance with prescribed protocols for averting the spread of COVID-19 in the state.

State Commissioner for Information, Mr Charles Aniagwu, at a media briefing in Asaba, the state capital said that some of the measures included establishment of more mobile courts to handle defaulters and introduction of new COVID-19 guidelines to ensure that the spread of the virus was checked in the state.

Aniagwu said that “COVID-19 is not a death sentence” and urged the people to freely go for screening.

He disclosed that “the first family appreciates the people for their prayers and the show of love.

“The governor and his family are doing very well; he is in very high spirit and he has said that all ongoing projects must continue.

“Based on the increase in the number of COVID-19 cases, more stringent measures will be taken to ensure compliance; COVID-19 is real and more mobile courts will be established to try those who flout the protocols.

“Also, a task force to ensure compliance will be set up and any hotel, bar or restaurant that flouts the protocols will be shut down.

“We as a government will not watch individuals endanger the lives of others; we will come up with new protocols that will be enforced by the task force.

“We cannot fold our hands and allow our people suffer from COVID-19; tricycles and commercial buses that flout the directives on the number of passengers will be impounded.

“In churches and other public places, there must be reasonable social-distancing, and if you have a shop and you continue to attend to people without masks, your shop will be closed down.

“In less than one month, we have more than 1, 200 infected persons and by not adhering to those protocols, you continue to put the lives of others at risk; the earlier we adhere to the protocols and stamp out COVID-19, the better for us.”

• Gov. Okowa

Anambra Police break up fake COVID-19 Taskforce groups From OZO RAY

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nambra State Police Command have declared war against some groups of individuals it identified as fake COVID-19 taskforce teams operating as government officials within Onitsha metropolis.

A statement by the Police Public Relations Officer Mr. Haruna Mohammed, revealed that the Commissioner of Police, John Bassey Abang saw the activities of such individuals as a huge security threat

to the state and has ordered the clampdown on the said fake COVID-19 task force representatives.

The statement stated: ”The attention of the Anambra State Police Command has been drawn to the incesant extortions, harassment, intimidation and assault by illegal task force teams claiming to be enforcing COVID-19 measures including wearing of face masks, the Commissioner of Police CP John B Abang, frowns at such attrocities and has ordered

for immediate clampdown on all persons involved especially in Onitsha and environs. “ Reports further indicate that the hoodlums wear reflective jackets and operate in shuttle buses/ keke with stickers bearing COVID-19 TASK FORCE. “For the avoidance of doubt, no such task force has been constituted by the State Government to operate on the streets and highways within Anambra State. Only organised markets are authorised to

operate such enforcement teams within their respective markets.

“In view of the above, the Command will henceforth arrest and prosecute anyone found extorting money or intimidating members of the public in the guise of enforcing face mask protocols including buses, Keke riders and persons bearing COVID-19 task force stickers or jackets on the streets/highways within the State.”

Federation Account: How FG, states, LGAs shared N7.8tr in 2019 ... As Delta, Lagos, Kano received largest share, Ebonyi, two others least

• Cross River State Deputy Governor, Professor Ivara Esu, representing Governor, Benn Ayade, during the official inauguration of the World Bank-Assisted Covid-19 Action Recovery & Economic Stimulus (CARES) state Programme Team at a ceremony performed inside the Government House, Calabar, Thursday

Adinuba dismisses claims of dramatic increase of COVID-19 infections in Anambra From OZO RAY

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ontrary to the impression created as a result of the announcement of 20 new cases of coronavirus infections in Anambra State, which was termed a dramatic increase in the number of cases, governnent has said that there was no dramatic increase and that the state has remained one of the states with the least COVID-19 cases.

Mr. C.Don Adinuba, the commissioner for information and public enlightenment who made the clarifications in a statement, explained that the true situation is far different from what people have about the figures announced by the Nigeria Centre for Disease Control (NCDC).

Adinuba noted that a lot of people have innocently assumed that as many as 20 people were infected in Anambra in one day.

He said, “the true situation is far from the impressions some have as a result of the figure. There is no dramatic increase in the number of COVID-19 infections in the state.

“The 20 cases reported by the NCDC were based on samples taken in over three weeks across the state. Some of the samples were even taken outside Anambra, but were ascribed to our state because the people tested chose, for different reasons, to identify with the state.

“Only seven out of about 100 samples tested at the Chukwuemeka Odumegwu-Ojukwu Teaching Hospital, Awka, turned out positive. Therefore, the COVID-19 prognosis of our state is still good, one of the very best in the country.

“It is important to bear in mind

that many of the 20 reported cases came from Nnamdi Azikiwe Teaching Hospital, Nnewi, which most unfortunately lost one of its key officers to reported complications arising out of COVID-19. His contacts in the medical college, teaching hospital, his private hospital, family and community have been traced comprehensively.

“The relatively low positive results which Anambra has been getting, despite the fact that a large number of our people travel extensively for business and other legitimate pursuits and the fact that we have some of the largest open-air markets in West Africa patronized daily by millions of people from West Africa and beyond, show that many of our people have embraced our relentless message on COVID-19.

“It is reassuring that the state has the capacity to manage cases should there be a spike. Apart from having teams of accomplished doctors, nurses, pharmacists, lab scientists, ward cleaners and ambulance who play vital roles in the COVID-19 case management value chain.

“There are 600 beds in different protective care units in our state, otherwise known as isolation centres.

The facility at the Onitsha General Hospital, with 58 beds, is the first centre in Nigeria to meet World Health Organization (WHO) standards.

“Still, we should not rest on our laurels. The disease, which is highly contagious, is far from over in our state.

In fact, we expect a spike in infections soon. With the commissioning of the Mega Laboratory at Chukwuemeka Odumegwu-Ojukwu University Teaching Hospital, Awka, capable of testing 470 samples for COVID-19 si-

multaneously, there is likely to be a rise in the number of infections.

“What is more, with the aggressive community search just initiated by the Obiano administration, which saw the government set up a COVID-19 Task Force in each of the 326 wards in the state so as to reach the grassroots in a radical manner, there is likely to be an increase in positive cases.

“We, therefore, have a responsibility to continue to guide our people to imbibe the habit of wearing face masks any time they come out in public, and wear them appropriately by covering their nostrils and mouths always, as opposed to the current practice where people wear the face covering on the chin and jaw.

“We also need to encourage our people to wash their hands for at least 20 seconds with running water and soaps and sanitizers. In addition, we have to observe social distancing by keeping away from people by at least six feet.

“The Anambra State government has recently started a campaign on ways to boost our immunity as part of the strategy to fight COVID-19.

0“Our system needs plenty of vegetables like bitter leaf (onugbu) and pumpkin (ugu) and fruits like lemons, oranges, avocados, etc, which are available in large quantities throughout the state and beyond in the rainy season and now sell at affordable prices. Our system needs things like Vitamin C, Vitamin D and Zinc for fortification. They are affordable.

“It is important to pass on this message to our people in different ways.

Preventing the spread of the coronavirus pandemic is far better than managing the cases.”

Federal Government, 36 states and the 774 Local Government Areas (LGAs) in Nigeria shared a total sum of N7.8 trillion from the Federation Account in 2019.

While the Federal Government and its agencies received a total sum of N3.3 trillion, other tiers of government shared N4.4 trillion.

The total allocation of N4.4tr to States and their Local Government Councils is N100 billion lesser than the N4.5 trillion they received in the previous year of 2018.

In its annual detailed investigative report with a table of figures, Delta State is ranked first as the highest recipient of gross allocation with a total sum of N282bn in the twelve months of 2019, followed by Lagos State N270bn, Akwa Ibom N241bn, Rivers State N219bn and Kano State N181bn.

The five states cornered over a quarter (25 per cent) of the total allocation for the States and local government councils in Nigeria.

Among the 10 highest recipients from the Federation Account are Bayelsa State which got N176bn; followed by Katsina State N136bn, Oyo State N131bn, Kaduna State N129bn and Borno State N121bn.

The lowest recipients are Gombe and Ebonyi States that got N75bn and N76bn followed by Nasarawa N77bn, Ekiti N78bn and Kwara N80bn.

The report further disclosed that Edo and Ondo which are oil-producing states got N108bn and N103bn respectively while another state in the South-South, Cross River State merely received N90bn in one year.

The factors that influence allocations to states and local government councils from the Federation Account include: Population, Derivation, Landmass, Terrain, Revenue Effort, School Enrolments, Health Facilities, Water Supply and Equality of the beneficiaries.

19

BU$IN£SS The Oracle Today Monday July 13 - Sunday July 19, 2020

•Energy •Finance

•Stock

•Insurance

•Aviation

•e-Platform

COVID-19 plunges Nigeria straight into depression

By Sopuruchi Onwuka

•President Buhari

CBN Exchange Rates JULY 10, 2020 Currency Buying(NGN) Central (NGN) Selling(NGN) US DOLLAR 360 360.5 361 POUNDS STERLING 453.636 454.2661 454.8961 EURO 406.08 406.644 407.208 SWISS FRANC 382.1656 382.6964 383.2272 YEN 3.3711 3.3758 3.3805 CFA 0.5075 0.5175 0.5275 WAUA 422.2018 422.7882 423.3746 YUAN/RENMINBI 51.4159 51.4878 51.5596 RIYAL 95.977 96.1103 96.2436 SA RAND 21.2816 21.3112 21.3407

dicated that Nigerian gross domestic product (GDP) is to contract by an average of 5.8 percent depending on the gravity and duration of the pandemic, wiping out gains from the three consecutive years of growth since the 2016 recession.

The bank calculated that government oil revenues might decline by 90 percent in 2020 due to the decline in oil price triggered by low demand; this indicates that estimated 90 percent of total export earnings and more than 50 percent of fiscal revenues to the federation account would be lost.

The headwind doubles up with growing expenditure pressures on government to mitigate the COVID–19 health and socioeconomic impacts. With that, the budget deficit is projected to widen to 6.7 percent in the baseline scenario, with potential to deteriorate to 7.8 percent if the pandemic persists beyond the second half of 2020.

The AfDB stated that lower oil exports would also deepen the

timates national testing capacity of 1,500 persons a day for a population of about 200 million.

According to the 2019 Global Health Security Index, Nigeria ranked 96 among 195 countries surveyed, the bank stated.

“The low ranking reflects the poor state of the health sector and quality of care. About 80 percent of the nation’s health facilities are at different levels of operational dysfunction. The proportion of frontline healthcare providers is low, at 20 per 100,000 inhabitants,” it stated.

Besides the coronavirus pandemic challenges which have weakened productivity in the domestic economy, Nigeria is also facing rapidly weakening macroeconomic conditions, triggered by the sharp decline in price of oil.

According to the outlook by AfDB, the coronavirus pandemic hit the Nigerian economy by inflicting reversed investment flows, volatile financial markets, and disruptions in travel and tourism.

The economic projection in-

ENERGY

current account deficit to between 4 percent of GDP in the baseline scenario and 5 percent in a worst-case scenario, wiping out the pre-COVID–19 projected marginal surplus.

“Despite the likely improvement in farm produce as wet season starts, subdued consumer demand and lower than expected growth in bank credit, inflation is forecast to increase to 14 percent in 2020 from the 11.1 percent projected before the crisis,” the bank stated.

On family income and microenvironment, the AfDB pointed out that COVID–19 pandemic has morphed into a socioeconomic crisis with far reaching implications on jobs and poverty; and the the Brookings Institution estimates that 10 million people could slip into poverty in Nigeria, which is among the countries likely to record an increase in poverty of more than three percentage points in 2020 due to the pandemic.

Government of President Muhammadu Buhari had evolved a raft of fiscal and monetary policy stimulus, including N500 billion credit facility to support healthcare facilities, relief for taxpayers, and employers incentives to mitigate the shock of the pandemic to the economy and households.

Another policy measure enunciated by government is to increase the number of households on conditional cash transfers from 2.6 million to 3.6 million.

As part of the measures to mitigate the economic pains of the coronavirus pandemic, the Central Bank of Nigeria (CBN) also established a N50 billion targeted credit facility and liquidity injection of N 3.6 trillion or 2.4 percent of GDP into the banking system.

The apex bank also reduced interest rates from 9 percent to 5 percent on all its applicable interventions and introduced a

T

he Nigerian economy is irredeemably heading for depression in the second half of the year just as the novel coronavirus disease infection which has predictably covered every inch of the country’s territory enters community transmission stage.

According to economic outlook on the country accessed

by The Oracle Today, the raging coronavirus pandemic is to inflict 5.8 percent contraction on the country’s economy, 7.8 budget deficit by second half of the year, and 90 percent fall in government revenue. Inflation is also expected to shoot up from 11.1 percent in the first quarter of the year to 14 percent in the second part of the year as the pandemic lingers.

According to the country economic outlook on Nigeria published by the African Development bank (AfDB), Nigeria is currently exhibiting all indices of economic depression as it also comes under the full impact of the raging coronavirus disease, also known as COVID-19.

Besides the AfDB, the Brookings Institution has also reported that some 10 million will inevitably sink into abject poverty in the year due to the pandemic.

The Oracle Today reports that Nigeria confirmed the first COVID–19 case on February 27, and

by Saturday night, July 11, the Nigerian Center for Disease Control confirmed at least 31,987 cases and 724 deaths from the coronavirus. Some 13,103 people of those infected with COVID-19 have also recovered.

The number of reported COVID-19 cases is incidental on hospitalization while community transmission flows unrestrained in neighborhoods across the nation.

The AfDB blames Nigeria’s weak health system and associated low national testing capacity for acute per capita health attention. The bank flaunts es-

•Tourism

AKK pipeline will commercialize upstream P24 gas, spur industrialization, says Okwuosa

AVIATION

Ibom Air commences Lagos to Calabar operations P29 INSURANCE

FBNInsurance clears N4.4bn in six months

P27

e-Platform

Google’s Andriod 11 ready in September

P30

EQUITY & Capital Market

Investors stake N13.45bn on equity stock

P32

Continued on P 25

STOCK MARKET REPORT AS AT FRIDAY JULY 10, 2020 WEEK CLOSE 03/07/2020

WEEK CLOSE 10/07/2020

WEEKLY CHANGE

WtD

MtD

QtD

YtD

% Change The NSE All-Share Index (ASI) The NSE-Main Board Index NSE 30 Index NSE CG Index NSE Premium Index NSE Banking Index NSE Pension Index NSE Insurance Index NSE ASeM Index NSE-AFR Bank Value Index NSE AFR Div Yield Index NSE MERI Growth Index NSE MERI Value Index NSE Consumer Goods Index NSE Oil/Gas Index NSE Lotus II NSE Industrial Goods Index

24,336.12 1,032.73 1,044.50 815.21 2,099.77 267.55 927.31 126.61 742.08 735.41 1,314.43 1,220.40 1,217.48 430.83 196.21 1,815.20 1,118.11

24,306.36 1,022.11 1,042.02 834.49 2,118.36 283.19 937.78 125.69 741.05 778.51 1,375.70 1,201.39 1,270.58 413.75 194.89 1,792.75 1,094.31

-29.76 -10.62 -2.48 19.28 18.59 15.64 10.47 -0.92 -1.03 43.10 61.27 -19.01 53.10 -17.08 -1.32 -22.45 -23.80

-0.12 -1.03 -0.24 2.37 0.89 5.85 1.13 -0.73 -0.14 5.86 4.66 -1.56 4.36 -3.96 -0.67 -1.24 -2.13

-0.71 -1.06 -0.96 -1.29 -0.32 0.44 -1.61 -3.11 -0.14 1.30 0.42 -3.69 0.60 -6.33 -0.80 -1.81 -0.87

-0.71 -1.06 -0.96 -1.29 -0.32 0.44 -1.61 -3.11 -0.14 1.30 0.42 -3.69 0.60 -6.33 -0.80 -1.81 -0.87

-9.45 -11.26 -11.53 -23.26 0.10 -20.64 -11.03 -0.10 0.82 -21.21 -0.67 -13.79 -11.13 -30.21 -25.77 -2.29 1.74

5 Top Gainers

Symbols Last Close RED STAR N2.97 P Z CUSSONS N3.90 STERLINGBANK N1.15 CORNERSTONE N0.50 ZENITH BANK N15.25

Current N3.52 N4.50 N1.30 N0.55 N16.70

Change 0.55 0.60 0.15 0.05 1.45

%Change 18.52% 15.38% 13.04% 10.00% 9.51%

5 Top Losers CUSTODIAN CONOIL PLC BETA GLASS MRS OIL UNILEVER

N5.50 N4.90 N21.00 N18.90 N68.35 N61.55 N13.80 N12.45 N13.80 N12.45

-0.60 -10.91% -2.10 -10.00% -6.80 -9.95% -1.35 -9.78% -1.35 -9.78%

The Oracle Today Monday July 13 - Sunday July 19, 2020

ISSN: 2545-5869

The

racle www.oraclenews.ng

EDITORIAL

Today

20

VOX POPULI SACRUM

Banks’ turnaround, example of Polaris

T

HE financial performance of Polaris Bank in the first year of commercial operations is a significant stride in the turnaround of the defunct Skye Bank, which many people had regarded with fears of massive investment loss.

The Polaris brand, which emerged on September 21, 2018 had in its first financial report dispelled the fear of grim balance sheet with a commendable display of management credibility and process integrity that are worthy of forming the operating benchmark for all players in the Nigerian financial industry.

For the first time in the history of regulatory interventions in the domestic financial services industry, the team of professionals advanced by government to salvage a ailing bank has displayed astute legerdemain in steering the rebranded bank from the precipice of failure into a solid growth trajectory.

The bold financial statement indicates that Polaris Bank has speedily decimated its crippling legacy burdens and now stands firmly positioned to compete profitably in the Nigerian financial services industry.

Legacy burdens refer to loads of ancestral liabilities impinging from previous mergers and acquisitions that pack up unhealthy balance sheets from defunct progenitors of the bank. These dead weights had sunk a lineup of defunct banking brands, compelling regulators to deploy rescue measures that protect depositors, investors and integrity of the domestic banking system.

Emerging from the rubbles of Eko International Bank, Mainstreet Bank, Afribank and Skye Bank, Polaris Bank is buoying up sunken investments, rescuing livelihoods, delivering value to customers and funding commercial ventures that form the engines of national development.

According to the bank’s financial statement for 2019, which met the requirements of the International Financial Reporting Standards (IFRS), Polaris surpassed all regulatory yardsticks on capital solidity, leaped above official liquidity benchmarks and soared beyond value generation indices.

The financial report posted a N27.8 billion gross profit from impressive gross earnings of N150 billion.

The bank also reported a profit after tax of N27.35 billion for the first year of operation, and laid a strong long term profitability outlook.

Close look at the financial report indicated more reassuring values that transcend operating profits.

The statement showed a solidified financial base of over N1.1 trillion. Shareholders’ funds also stood at N83 billion at the end of the period covered in the financial statement. Return on Equity (ROE) and Return on Assets (ROA) reached 33 percent and 2.4 percent respectively for the year.

Customer deposit, which forms the key index of public confidence stood at N857.9 billion; loan stock, which points at capacity to create economic value in the country stood at N261 billion.

From the figures posted in the result, it is obvious that the 14 percent capital adequacy ratio declared in the report and the 81 percent liquidity ratio jointly put Polaris Bank well above regulatory requirements in both pedestals.

Our position in endorsing performance of the management of the bank is further guided by expert views from analysts. An independent RTC Advisory Services Ltd holds that all performance indices captured in the bank’s financial report are not only verifiable but also credible when placed in the scale of reporting standards.

The summary of RTC’s analysis states: “With the exception of its NPL ratio, Polaris Bank’s ratios compare favourably with the leading Tier 1 and Tier 2 banks and are in virtually all cases better than industry averages. ROA at 2 percent is at par with Zenith Bank; ROE at 33 percent is competitive against all Tier 1 banks with the exception of GTbank; ROS at 18 percent ranks third behind only Zenith and GTBank benchmarked against Tier 1 banks; and the bank’s Cost to Income ratio is as mentioned earlier well within industry averages. (It is) very commendable performance especially given legacy context and environment.”

The industry advisory firm stated that Polaris Bank’s strong capital adequacy-2.0 percent ROA, 33 percent ROE, 18 percent Return on Sales (ROS) , and 81 percent Liquidity Ra-

tio-demonstrate operating efficiency, strong inherent capacity for profitability and returns to stakeholders. It attributed the performance to “very comfortable liquidity and asset efficiency;” adding that Polaris bank remains systematically important in strong profitability and profit potential by all objective standards.

The bank’s Cost to Income ratio of 59 percent is also rated within industry averages and further reinforces the institution’s underlying reality of operational and cost efficiencies, which is a significant achievement in view of its legacy constraints, RTC stated in an analysis.

It is particularly noteworthy that the impressive first year performance of Polaris Bank defied the weight of huge operating deficits and negative balance sheets inherited from defunct Skye Bank.

The pull from the inherited liabilities reflected in the bank’s efforts at portfolio clean-up with nonperforming loans (NPL) ratio of 46 percent, “from around 80 percent at the time of the regulatory intervention.”

We see the business performance of Polaris Bank in its first year of operations represents an epic stride that has not only justified regulatory intervention in the rescue of defunct Skye Bank but also solidified the faith of stakeholders in the Nigerian domestic financial regulatory system.

The short period of far-reaching progress now showcases the young financial industry brand as the symbol of dazzling commercial performance that stands in paradox with its weak and crumbled heritage.

It is therefore in the foreground of the bank’s troubled and complicated past that we commend the management leadership of Mr. Adetokunbo Abiru on this sterling performance that turned around the fate and fortunes of the bank, its employees, shareholders, depositors, borrowers and other stakeholders.

The performance, which we celebrate today also lays tall agenda for the management to face the remaining task of driving portfolio repositioning of the bank to conclusion, by sustaining efforts at cleaning up inherited loan portfolio until all NPLs are within acceptable benchmarks.

Reassuringly, the board and management of Polaris Bank have a track record of successful intervention in salvaging troubled banks in the country, having repositioned a previously troubled bank towards the paths of commercial viability.

Thus, while we acknowledge and commend internal processes and strategies that translated to the positive financial position of the bank in its first operating year, we strongly encourage the interventionist management team to retain focus on stable, lowcost deposits and well-diversified portfolio devoid of high concentration; a strategy, which has led to speedy recovery of the bank from its progenitor’s looming insolvency.

With the standards set by the Polaris Bank brand, other banks are expected to brace up for emerging competition that is based on operating excellence and management efficiency. The prevailing reality is that regulators are now driving intervention in the financial services industry with competent hands. Hopes are high that players in the industry may no longer be allowed to manipulate the system to the detriment of depositors and investors.

21

The Oracle Today Monday July 13 - Sunday July 19, 2020

OPINION Giant strides of Anambra Community and Social Development Agency

By EJIKE ANYADUBA

W

ITH access to improved social and natural resource infrastructure as the new community development focus of many a state in Nigeria, the Anambra state government in partnership with the World Bank has seized the initiative to make a lot of positive interventions in communities around the state.

Under the auspice of the Community and Social Development Agency (CSDA), it was able to determine, using the State Poverty Map, twelve focal local government councils of Awka North, Anambra East, Anambra West, Ayamelum, Orumba North, Dunukofia, Orumba South, Anaocha, Oyi, Ogbaru, Idemili North and Ihiala and positively altered development in 53 communities and among 16 vulnerable groups within them.

Established March 19, 2009, through an enactment by the State House of Assembly, the Agency did not take off immediately until August 1, 2018. It was literally in limbo for nearly almost a decade. But by March 2019, when it started community implementation, it was able to record breathtaking achievements, paling every other Agency in comparison. In fact, few, if any, can stake greater claims to improved community development than the CSDA. It is right to argue that but for the responsive Willie Obiano administration which rustled up the statute, establishing the Agency and empanelled the board, the Agency would have come in vain. At best it will still be exist-

ing in outline.

Led by the traditional ruler of Nteje in Oyi local government council Chief Rowland Odegbo and managed by Mr. Chudi Mojekwu, who had had a taste of management at the State FADAMA project, the Agency has made appreciable impact in improving development in the focal communities. It has, with its pro-poor intervention projects in the select communities, successfully reduced poverty in those places and empowered the people.

Perhaps the Agency is able to navigate the process of community development and achieved as much as it has done because its activities are in sync with the CommunityChoose-Your-Project program of the Obiano administration. The Obiano’s development model which is novel in concept and unique on impact encourages the work of the Agency and allows for ease of intervention. The Agency does not have to belabor otherwise excessively complicated administrative procedure that often impedes development at that level.

So far the Agency has made far reaching interventions in very many communities within the focal local council areas. It has received expression of interest from well over a hundred communities and about twenty-five vulnerable groups in the state and made interventions in fifty three communities and sixteen vulnerable groups. These interventions are made in about seven key sectors of the economy like education, environment, health, water resources, rural transportation, rural electrification, and socio-economic activities.

However, no intervention is made without recourse to the communities which reserve the right of choice of projects they host. Interestingly, what the Agency does is not any different from what the state is doing with the Community-Choose-Your-Project initiative of the government. The Agency empowers the communities by giving them resources and the authority to use them responsibly. The communities plan, part-finance, implement, monitor, and maintain sustainable and socially inclusive multi-sectoral micro projects.

Apart from its pro-poor intervention projects and the empowerments it has made, the Agency has approved forty-one Community Development Plans, sixteen Group Development Plans, containing about two hundred and three Micro projects from the seven approved sectors. It is expected that these plans may come in handy for use by the state in her effort to improve lives in the rural communities. The Agency has also completed a hundred and sixty-nine micro projects with about two million five hundred and fifty-nine thousand, four hundred and forty beneficiaries. By the same token, about five hundred and forty temporal jobs, direct and indirect, were also created by the Agency.

To the credit of the Obiano government, keying into the World Bank assisted projects has redefined development of some critical sectors of the rural economies. It has also given the communities, hitherto without opportunities, access to improved social and economic infrastructure. Those without access roads, clean water supply, electricity, skill

acquisition centres, health centres, schools, markets, flood control etc have since been provided them.

Issue of social responsibility did not receive less attention. Sensitization on protocols observation for the Covid-19 pandemic was launched and is being carried on in the communities with as much commitment as the empowerment program. Ditto for psychosocial support to care-seekers and victims of various kinds of trauma, including genderbased violence, domestic violence, rape, sexual abuse, herdsmen attack etc. None of the victims is left without some succour.

The Agency is not without a few challenges.

Funding of the projects has slowed down due to the Covid-19 pandemic which compelled a stay-at-home regime. There is also the issue of managing the huge number of expression of interest from the communities without commensurate funding because of budgetary and time constraints. Implementations are also faced with threat of rains and flooding.

Regardless, with what the Agency has achieved within its short period of existence it is being positioned to be the consolidation and institutionalization Agency for the Government community and social development interventions. A synergy between the Agency and the Community-Choose-Your-Projects Initiative of the Obiano administration promises to obliterate traces of poverty in virtually all the poor communities in the state.

•Mr. Ejike Anyaduba, a public affairs analyst, writes from Abatete, Anambra State.

After COVID-19, what will Africa look like in 2030 and 2063?

By BANJI OYELARAN-OYEYINKA

A

FRICAN leaders need to look in the mirror and ask where this continent will be in 2030 and 2063 The COVID-19 pandemic, one of the world’s most significant events, has resulted in cessation of economic activities that will lead to a significant decline in GDP, an unprecedented social disruption, and the loss of millions of jobs.

According to estimates by the African Development Bank, the contraction of the region’s economies will cost Sub-Saharan Africa between $35 billion and $100 billion due to an output decline and a steep fall in commodity prices, especially the crash of oil prices. More fundamentally, the pandemic has brutally exposed the hollowness of African economies on two fronts: the fragility and weakness of Africa’s health and pharmaceutical sectors and the lack of industrial capabilities.

The two are complementary. This is because Africa is almost 100 percent dependent on imports for the supply of medicines. Ac-

“

Development Finance Institutions (DFIs) such as the African Development Bank are mandated to, and are currently, trying to fill the gaps left by private financial institutions. There is an opportunity to Africa to rethink and reengineer its future. The Africa of tomorrow must look inwards for its solutions

cording to a recent McKinsey (2019) study, China and India supply 70 percent of Sub-Saharan Africa’s demand for medicine, worth $14 billion. China’s and India’s markets are worth $120 billion and $33 billion respectively.

Consider a hypothetic situation where both India and China are unable or unwilling to supply the African market? Africa surely faces a health hazard. The root of Africa’s underdeveloped industrial and health sectors can be encapsulated in three ways.

First, some African policy makers simply think that poor countries do not need to industrialize. This group believes the “no-industrial policy” advocates who engage in rhetoric that does not fit the facts. The histories of both Western societies, and contemporary lessons from East Asia, run contrary to that stance. Clearly, governments have an important role to play in the nature and direction of industrialization. Progressive governments throughout history understand that the faster the rate of growth in manufacturing, the faster the growth of Gross Domestic Product (GDP).

From the Economist magazine five years ago: “BY MAKING things and selling them to foreigners, China has transformed itself – and the world economy with it. In 1990 it produced less than 3% of global manufacturing output by value; its share now is nearly a quarter. China produces about 80% of the world’s air-conditioners, 70% of its mobile phones and 60% of its shoes. Today, China is the world’s leader in manufacturing and produces almost half of the world’s steel.” The keyword is “making”. Two, rich countries therefore became rich by manufacturing and exporting to others, including high-quality goods and services.

Poor African countries remain poor because they continue to produce raw materials for rich countries. For example, 70% of global trade in agriculture is in semi-processed and processed products. Africa is largely absent in this market while the region remains an exporter of raw materials to Asia and the West. Lastly, African countries are repeatedly told that they cannot compete based on scale economy, and as well, price and quality competitiveness because China will outcompete them. For this reason, they should jettison the idea of local

production of drugs, food and the most basic things. The question is: How did Vietnam, with a population of 95 million, emerge from a brutal 20-year war and lift more than 45 million people out of poverty between 2002 and 2018 and develop a manufacturing base that spans textiles, agriculture, furniture, plastics, paper, tourism and telecommunications?

It has emerged as a manufacturing powerhouse, becoming the world’s third-largest exporter of textiles and garments (after China and Bangladesh). Vietnam currently exports over 10 million tonnes of rice, coming third after India and China. How is it that Bangladesh, a country far poorer than many African countries, is able to manufacture 97% of all its drugs demand, yet it is next door to India, a powerhouse of drug manufacturing?

The COVID-19 pandemic has exposed Africa.

African leaders need to look in the mirror and ask where this continent will be in 2030 and 2063. Africa must adopt progressive industrial policies that create inclusive, prosperous and sustainable societies. What then should be done? A three-pronged approached is urgently needed.

First, Africa needs a strong regional coordination mechanism to consolidate small uncompetitive firms operating in small atomistic market structures. With a consumer base of 1.3 billion and $3.3 trillion market under the African Continental Free Trade Area (AfCFTA), the continent has no choice but to bring together its fragmented markets.

Second, Africa needs to build better institutions, strengthen weak ones and introduce the ones missing. No better wake-up call is required than the present pandemic.

Third, one important institution that has been abruptly disrupted is the supply chain for medicines and food, for example. Logistics for transporting capital and consumer goods across the region need predictable structures.

Building or strengthening supply chains involve fostering and providing regulations for long-term agreements and competences that leverage both private and public institutional challenges such as customs regulations.

Finally, development finance institutions (DFIs) such as the African Development Bank are mandated to, and are currently, trying to fill the gaps left by private financial institu-

tions. There is an opportunity to Africa to rethink and reengineer its future. The Africa of tomorrow must look inwards for its solutions, – whether in feeding its own people, build industrial powerhouses led by African champions.

The African Development Bank stands ready to help target and push for deeper economic transformation. Africa needs to execute structurally transformative projects that generate positive externalities and social returns. Keep our eyes on the days after.

• Professor Banji Oyelaran-Oyeyinka, is the Senior Special Adviser on Industrialization to the President of the African Development Bank. He is a Fellow of the Nigerian Academy of Engineering and Professorial Fellow, United Nations University. His recent book is “Resurgent Africa: Structural Transformation and Sustainable Development”, UK: Anthem Press, 2020.

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4”x2 cols 38,096.00 3”x2 cols 28,572.00 2” x2 cols 1”x2cols 1”x1col

19,048.00

9,524.00 4,762.00

Colour

Special Pages (3,4,5,6 &7)

Sizes N

Full Page (14”x6 cols) 520,000.00 Half Page (7”x6 cols) 27o,000.00

14”x 5 cols

433,300.00

14”x 4 cols

346,640.00

14”x2 cols

173,320.00

10”x6 cols

371,400.00

10”x5 cols

309,500.00

10” x4 cols

247,600.00

9”x 6 cols

334,269.00

9”x 3cols 167,130.00 9”x 4cols 222,840.00

N

Full Page (14x cols) surcharge of 30% 676,000 10 x 5 cols surcharge 30% 402,350 Half page (7x6 cols)

surcharge 30% 351,000 Quarter Page (7x3 cols) surcharge of 30%

168,987 Inside Front cover (full page) surchage 30% 780,000 Inside Back cover (full page) surcharge 30% 780,000 Outside Back page (full page) surcharge 30% 1,000,000 (Earpiece

400,000

Special Position

N

Front Page strip 2 x 6

465,000

Backpage strip

2 x 6

450.000

7”x5 cols 216,650.00

Back Page strip

6 x 2

530,000

7”x4 cols 173,320.00

Front Page solus 6 x 2

500,000

Quarter Page

Earpiece Window (2 x 2) Front 205,000

8”x5 cols 247,600.00 8” x3cols 148,560.00

125,000.00

6”x3 cols 111,426.00 6”x2 cols 74,280.00 2” x6 (Strip ROP)

74,280.00

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Earpiece Window (2 x 2) back 179,000 Centre Spread

1,000,000

Double Spread

850,000

Wrap Around

16,500,000

Half Wrap Around

10,000,000

Classified

3,000

Loose Inserts Rate Per 1000 Copies 43,000.00 Handling Charge 45.000.00

For adverts placements and bookings contact the following number: 08033580234, 07031936466, 08033619959

23

The Oracle Today Monday July 13 - Sunday July 19, 2020

BUSINESS Finance minister explains how FG will fund 2021 budget

By KAYODE OGUNWALE

T

HE Minister of Finance, Budget and National Planning, Zainab Ahmed has said that the Federal Government has identified the sources of revenue to fund the N11.86 trillion budgets proposed for the 2021 fiscal year.

The minister who spoke during the presentation of the draft 2021–2023 medium-term expenditure framework (MTEF) and fiscal strategy paper (FSP), also spoke on the performance of the 2020 Budget between January and May. Speaking during the presentation on Friday in Abuja during a virtual consultative session with civil society organisations, organised private sector and the general public, the Minister said part of the funding for the budget would come from the export of 1.86 million barrels per day oil output at about $40 per barrel.

She pointed out that net accrual to the Federation Account of N6.67 trillion (after 0.5% transfer to Police Trust Fund), total oil revenue, after all costs, deductions and derivations would come to about N4.09 trillion.

She further revealed that the Federal Government expects to realise about N5.46 billion as net solid minerals revenue after payment of derivation; N1.41 trillion as net corporate tax; N1.05trillion as Nigeria Customs revenue, and N124.8billion as revenues from special levies.

According to her, unspecified revenues would be expected from the dividend payment by the Nigeria LNG on the federal government equity holding in the multi-billion dollar investment.

The Federal Government expects to earn about N3.52trillion as its share of the monthly allocation from the Federation Account (52.68 percent), in addition to about N244.5billion from its share of the value-added tax (VAT) Pool Account for the year.

To keep the total fiscal deficit of about N5.15trillion within the proposed 3 percent ceiling over the medium term, the Minister said the government was committed to finding new revenue sources, while taking steps to ensure a reduction in the cost of governance.

“In furtherance of our (government’s) objective of greater comprehensiveness and transparency in the budget process, the FGN 2021 Budget will reflect the revenues and expenditures of all significant government-owned enterprises (GOEs) (excluding the Nigeria National Petroleum Corporation), not just as in the 2020 budget”, the Minister said.

On the revenue performance in the revised 2020 Budget, Ahmed said on a pro-rata basis out of about N5.4trillion recorded as retained revenues in the approve appropriation, which was revised to N2.6 trillion for the period between January and May, only N1.48trillion was actually realised.

The realised revenue, the Minister noted, was below the revised target by about N1.14 trillion, or 44 percent.

In terms of oil revenue, about N1.014 was approved in the 2020 Appropriation, which was revised to about N422.4billion, as a result of the impact of the coronavirus pandemic on the global market, which resulted in the crash of crude oil prices at the international oil market.

• (From right): Former Nigerian Ambassador to Israel HE Enoch Duchi, the former Director in Charge of Nigerian Christian Pilgrim Commission (NCPC), Mrs Esther Kwaghe, the Executive Secretary of NCPC Rev Dr. Yakubu Pam and the Director of Operations NCPC Rev. Amos Yohannah during the former envoy’s visit to NCPC Corporate headquarters, Abuja recently.

FSDH lists impact of CBN’s Naira devaluation to N380/$1

R

ECENTLY, the Central Bank of Nigeria (CBN) made the second devaluation of the Naira in 2020, crashing the value of the local currency to N380/$1 from N360/$1.

This move, according to insiders, was to adhere to the demands of the World Bank and the International Monetary Fund (IMF), who have insisted that until the exchange rate system is unified, it may not release loans to the country.

Nigeria has struggled to earn forex as a result of the low prices of crude oil at the global market. The country largely depends on the sale of the commodity for revenue.

Customers to enjoy access to funds, flexible repayment plans with new UBA Credit Card

U

NITED Bank for Africa (UBA) Plc, has introduced the new UBA Naira Credit Card to its teeming customers in fulfilment of its promise to ease accessibility to funds and improve the overall standard of living.

With the new UBA Naira Credit Card, customers whose salary accounts have been domiciled with the bank for a minimum of three months and are employees of corporates under UBA’s approved counterparty list with minimum net monthly income of N250,000 are in for a stress-free business and personal lifestyle. They will be qualified to access up to N3 million credit, with extremely flexible repayment plans of as low as 10 percent of their monthly outstanding due.

Specifically, these customers aged between 18 and 57 years who apply for the UBA credit card will also enjoy easy access to funds with a revolving line of credit and up to 45 days interest free credit, flexible repayment options; amazing discounts at select merchant locations including Restaurants, Boutiques, among other mouth-watering benefits.

The UBA credit card also allow ATM withdrawals in Nigeria or abroad wherever the Visa logo is displayed while allowing ease of payment of goods and services locally and Internationally on POS/ WEB terminals where the Visa logo is displayed.

UBA’s Group Head, Digital Banking, Sampson Aneke, said that as a

bank that is interested in the welfare of Nigerians, UBA is always on the forefront of developing products and services aimed at creating wealth, easing living conditions and meeting the needs of its customers all over the world.

He said, “At UBA, we recognise that access to credit is fundamental to the creation of wealth and value in the economy. Unfortunately, the country has been challenged in this regard with only about 2 percent of the population presently having access to bank loans.

“It is in addressing these developmental and household challenges that the bank has in recent times developed and introduced a number of unique lending products to the market, with the latest being the innovative UBA credit card.”

Aneke who spoke glowingly about all the benefits that the banks’ customers stand to enjoy from the credit card explained that the UBA Credit card is currently available as Visa Gold card with a card limit of between N75,000 to N1,000,000 and Visa Platinum card with a limit of between N1,000,001 to N3,000,000 and can be used locally and internationally at any ATM or POS outlet which has the Visa logo, WEB (online), and POS terminals.

“There is an interest free period of 45 days on POS/Web transactions provided 100 percent repayment is made on the repayment due date and customers are entitled to 30 percent (annualized) of

their monthly salary as credit card limit subject to the existing Debt Service Ratio (DSR). The monthly repayment cycle will run from the 15th of every month to the 15th of the next month and the credit card statement showing transactions details within the period and the amount due for repayment will be sent to the cardholders’ registered email address,” Aneke said.

As a result of the low prices of the product since the beginning of this year, Nigeria, which is Africa’s largest economy and producer of oil, has recorded a huge shortfall in forex inflows.

This has consequently put too much pressure on the Naira at the foreign currencies market, selling at about N460/$1 at the black market.

Before the adjustment of the domestic currency last Friday by the CBN, it was first devalued to N360/$1 from N307/$1 earlier in the year.

But the latest move by the apex bank has generated mixed reactions, with some analysts projecting another devaluation probably later in 2020 so as to align with the parallel market rate, which the government still describes as illegal.

Analysts at FDSH Research, while commenting on the development, opined that the devaluation will favour government because it will earn more in Naira, but warned that it could raise the inflation rate.

The firm also noted that the adjustment was in line with the government’s agenda as contained in the Economic Sustainability Plan (ESP) launched in June in response to the COVID-19 pandemic.

FSDH, while listing the expected of the devaluation by the central bank, noted that it will have positive implications on government revenue and in turn, reduce pressure on the exchange rate in the short term.

“However, other markets are expected to adjust accordingly, the move would translate to higher pressures in other markets like the parallel market, raising speculative concerns in the coming months.

“With the reserves at $36 billion and relatively stable oil price, there appears to be a considerable amount of firepower to intervene in the markets.

“But as economic activities improve, higher imports and lower foreign investment inflows relative to 2019 will add pressure on the reserves.

“Despite the adjustments, the CBN will continue to intervene to maintain exchange rate stability and prevent large FX fluctuations.

“The move is also expected to trigger a marginal increase in the inflation rate, particularly imported food inflation,” it submitted in its report titled Macroeconomic Review for 2020 Q2 and Outlook.

ments of 2018,” he said, describing IATF2018 as a resounding success, not in the colourful displays exhibited, but in the showcasing of diversity of tradable goods by about 1,100 exhibitors from 45 countries and in the execution of deals worth about $32 billion.

That trade fair resulted in a Nigerian technology company winning a $100-million contract to provide technology-based solutions to the South Sudanese government; an Egyptian company winning contracts in many African countries to supply and install energy generation and distribution equipment worth close to $1 billion; Egyptian and Tunisian companies signing a $50-million partnership deal to create a joint venture for assembling home appliances; and the signing of a $3-billion energy generation project between an Egyptian company and an African government, the largest-ever intra-African project executed ex-

clusively by African entities, including financial institutions, he noted.

“The momentum created by the maiden IATF and the historic launch of the African Continental Free Trade Area (AfCFTA) will sustain the growth of cross-border trade and investments,” he affirmed.

Also speaking, Amb. Albert Muchanga, the AU Commissioner for Trade and Industry, said that the IATF was one of a set of activities planned by the African Union Commission to support implementation of the AfCFTA. The others included the African Trade Observatory, a portal for real-time information on business opportunities.

Soraya Hakuziyaremye, Minister of Trade and Industry of Rwanda, said that it was important for the African private sector to take advantage of IATF2020 to present and exchange their products and for entrepreneurs to use it to boost their visibility.

55 countries to participate at IATF2020, with over $40bn in trade deals

T

HE organisers of the Second Intra-African Trade Fair (IATF2020) expect it to surpass the achievements of the inaugural trade fair held in Cairo in 2018 by attracting 10,000 participants and generating intra-African trade and investment deals worth more than $40 billion, Prof. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), has said.

Prof. Oramah was speaking on Saturday at the formal launch of IATF2020 during the African Continental Free Trade Area (AfCFTA) Business Forum 2019 held on the sidelines of the 12th Extraordinary Summit of African Union (AU) Heads of State in Niamey. He told guests that the trade fair, scheduled for Kigali from 1 to 7 September 2020, would attract more than 1,100 exhibitors from over 55 countries.

“Working with our esteemed partners, we will exceed the achieve-

24

The Oracle Today Monday July 13 - Sunday July 19, 2020

ENERGY

AKK pipeline will commercialize upstream gas, spur industrialization, says Okwuosa The groundbreaking ceremony for Ajaokuta-Kaduna-Kano (AKK) pipeline project currently dominates the hype in the infrastructure delivery agenda of the government. The AKK projects goes beyond infrastructure to amplify the gains of the Nigerian Content policy in the petroleum industry with the choice of indigenous Oilserv Limited as lead contractor. Chairman of the company, Engr EMEKA OKWUOSA, who was on ground at Ajaokuta provides insight into the significance of the project. Excerpts: WHAT was your role in the AKK pipeline project?

I am the Chairman of Oilserv Ltd, an Engineering, Procurement and Construction (EPC) company. We are a consortium partner and the lead contractor for the first segment of the AKK pipeline project.

Considering the scope of work and critical nature of the first segment of the project, which is going to carry the full pressure of the full pipeline volumes, do you guarantee readiness and capacity for delivery?

We are ready for it. In fact, what we are carrying out today is official flag-off which is the groundbreaking ceremony. But as you can see over there, we are ready. We are already working: we are laying the lines.

Oilserv is a 100 per cent indigenous company currently employing more than 600 staff. With this AKK we probably will go to between 1,500 and 2000 at the peak of the personnel matrix.

But the fact remains that we are ready. This is not the first project. We are commissioning the OB3 gas project which is actually slightly larger than this in terms diameter. The OB3 gas pipeline is 48 inch in diameter.

So, we have the experience, we have the personnel, we have the equipment and we are capable and we will deliver this project.

What plans do you have for the youths of the host community that might seek participation in the project?

Like I said, we will crank up our employment by more than 1000 and major part of this 1000 will be indigenes of the areas where we are.

We have a clear programme to develop the areas where we build pipelines.

What does this project represent in the Nigerian Content policy implementation?

First, I thank Mr President for being in the forefront of driving progress in the oil and gas industry.

As you may be aware, which a lot of people may not, President Buhari built the infrastructure we had in the 1970s when he was the Federal Commissioner for Petroleum Resources.

Most of these refineries we see today were built within that period.

When Buhari came to power in 2015, he made the domestic gas infrastructure development a cardinal project. This project has been in the drawing board since 2008, 2009.

He made it happen. What this project shows clearly is the dedication of Buhari to local content and local capacity. Oilserv is an example of that, and Oilserv shows clearly that government means what it says.

We have been operating before the local content law came into being, but we have continued to build capacity, including building capacity beyond Oilserv by empowering other contractors to grow. So, we constitute a team

with federal government in this regard.

How are you managing the partnerships on the project to guarantee smooth process and collaboration in the project delivery within the time frame?

We have partners. It’s a consortium arrangement and this consortium arrangement has a Chinese company called CFHEC. You may be aware that this project is also not funded directly by the government. This project is funded using facilities or loan that is obtained for this project. This project is commercially viable.

It’s a project that the loan can be taken care of by the commercial nature of the project.

So in lieu of that we have injected a Chinese partner to meet the Chinese content requirements. But Oilserv is the primary EPC company. Our experience is what will also help to drive this process. We also have Oando in the consortium as partner. They are not an EPC company but we have been together for a long time in other projects where Oilserv is the

“ “

We have been operating before the local content law came into being, but we have continued to build capacity, including building capacity beyond Oilserv by empowering other contractors to grow

EPC company.

Can you offer more clarifications on the viability profile of the project and how it is going to generate funds to address the loan?

Like I said, this is fully viable. The facility being taken is meant to be repaid in 15 years; but this project can pay itself in less than 10 years because this is a commercial venture. When you pipe this gas you have gas flowing through to industries, to power plants. There are tariffs to be paid to even transport this gas.

If you understand the mechanism of gas transportation, for every cubic meter of gas that passes by there is an amount that is paid by those who use it. In addition to that, the gas itself that passes by would have to be paid for to be used. So this is a commercially viable project. It’s not the kind of a project that government has to support for it to be viable.

What challenges do you envisage in delivering the project, and what are your fears?

I won’t say I have fears. Every project comes with its challenges. There are challenges to build a project like this in virgin forests, to go through rivers, to go through rocks, to deal with security issues. These are challenges; but I don’t have fears because we have the knowledge and the experience to deal with it. We are very ready to deliver the project and deliver the project on time.

May we share your perspectives on the value proposition of AKK pipeline for the economy?

Gas is very important to our economy. Nigeria is predominantly a gas country, and not necessarily an oil country. We have an abundance of gas reaching up to 200 trillion cubic feet of gas already proven and existing reserves; but clearly there is far much more than that because exploration has not gone far in the gas sector.

When we look at the real gas issues in the country, I would say that Nigeria has not developed the capacity to utilize gas; and the capacity for gas utilization is about infrastructure.

You cannot store gas easily after producing it. The reason is simple. Gas is very difficult to hold unlike liquids. And for you to keep gas in a place, you have to pressurize it in order to move it to a location. There are many ways to move gas. One is the liquefaction system in which you have to pressurize, compress and freeze it in order to ship it. That is what the NLNG does presently.

25

The Oracle Today Monday July 13 - Sunday July 19, 2020

ENERGY But to utilize gas in Nigeria, what is required is clearly a gas transportation infrastructure.

Nigeria has conceived this in a clear way since the early 2000s and come up with the Nigerian Gas MasterPlan of which a portion has been constructed. One is the Escravos to Lagos Pipeline which starts from Escravos, goes through Benin and then heads to Lagos. It goes all the way to the Egbin Power Station and feeds the entire Lagos.

The other section of the NGMP is actually what was going to kick off from the Qua Iboe Terminal (QIT) in Akwa Ibom State, and then goes through Ibom node, then to Umuahia and Enugu to Ajaokuta. The system would now progress from Ajaokuta to Abuja, to Kaduna and Kano.

So what we are working to achieve now is the AKK, which is the section from Ajaokuta to Kano. And the Ajaokuta-Kaduna-Kano is very important because without the existence of this pipeline, the entire section of the Qua Iboe pipeline which ends in Ajaokuta will not be commercial enough in the sense that the offtake will not be robust enough to justify that pipeline.

So, in reality gas will make a lot of difference because with gas availability industries can run. And besides industries running, we are also talking about power generation, gas based industries like the urea plants which manufactures fertilizers. So with AKK you will be able to locate these plants where you need the fertilizer which is where you have agricultural activities going on. That makes it cheaper and more available.

So, in terms of the economic effect it is going to be massive. So, AKK is very important and it is going to make a lot of difference in the economy of Nigeria.

Most private operators in the country’s petroleum industry already have plans for their equity gas commercialization. Is their obligation on operators to feed gas into the AKK pipeline?

These activities are centered on NNPC’s state of operations. They articulate this with the International Oil Companies (IOCs). When you look at the midstream industry, which is these pipelines, you find out that NNPC is at the center of activities; and the corporation has done a lot of studies, a lot of operations economics, a lot of work on long term outlook value generation, a lot of work on industry collaboration. I am privileged to be involved in all these.

I am an optimist and that is why I am also an entrepreneur. I am involved in the set up and building of all the pipelines in Lagos delivered by Gaslink which was owned by Oando.

Those pipeline supply industries from Ikeja all the way through Ikorodu Road and down to Western Avenue.

Even before that, the entire Ikeja was served, Ilupeju was served, Ilasamaja was served. As we speak today, the reason industries are bubbling around Ikeja and environs is the presence of energy source. And this energy is gas.

So, let us also put this in perspective when we talk of AKK pipeline. Industries that are already moribund are huge in number. If you go to Kaduna you will see that, and if you go to Kano you will see that. So, when there is energy in the form of gas, these industries will have the impetus to kickstart again. Of course, we are not yet talking about other industries that will spring up from the scratch. So I am

•Engr Emeka Okwuosa optimistic.

Where do you stand on the arguments that gas infrastructure is needed more in the upstream industry to connect and enhance production of stranded gas?

In addressing the issues of stranded gas, let me point out that when you talk of stranded gas it doesn’t translate to production. But let us remember one thing: that you do not talk of production when there is no offtake. And the reason why production is muted is because of offtake issues. Offtake cannot happen if you do not have infrastructure to deliver the gas.

These are step by step issues.

When you have stranded gas and you have this need of interconnecting it to demand centers, it creates a business case for investments. And the investment that comes in is what drives employment; it is what drives capacity building. As we speak, we all know that AKK will generate thousands of jobs. It is not just all about jobs, local vendors will come in, and materials will be supplied locally during construction phase.

With the terrains that the pipeline will traverse, do you think the 2023 timeline for deliv-

What guarantees do we have that the AKK pipeline will not be vulnerable to fuel thieving syndicates that plague NNPC’s pipelines?

On pipeline security, I would emphasize that we are not waiting for explosion to happen, but the issue of public education is necessary.

Gas pipeline is not oil pipeline. Gas pipeline has massive amount of pressure. And when you talk of pipeline of 40 inch diameter size, and you look at the length of this pipeline, then you imagine the amount of pressure that is built up there. Any attempt by anybody to sabotage the pipeline will lead to catastrophe for the person and for any person around. It is not oil pipeline, so people should endeavour to keep away from it.

Having said this, we take serious action during construction to bury this pipeline about two meters below the surface. We also install fibre-optic system to monitor when somebody is trying to break in. These are some of the measures to prevent third party infringement.

There are other measures we take but these are some of the ones that we put on ground to ensure that no unauthorized person interferes with the lines.

COVID-19 plunges Nigeria straight into depression

Why is AKK now perceived as the main project in the entire Nigerian Gas Masterplan, especially when there are no sales agreements justifying pipeline?

It is important to state that this issue of Nigerian Gas Masterplan is well articulated, and it has been there for more than 20 years. The implementation of the masterplan started with the Escravos to Lagos pipeline which is already in place. I will come to that. The materplan also involves the OB3 pipeline which is the East to West interconnector.

Now when you look at the NGMP, it is just well articulated. The execution of the AKK part of it, as well as other southern parts, has been delayed for quite a while and the reasons are there. But we give credit to President Muhammadu Buhari for taking the gauntlet and making this a reality and supporting it strongly.

ery is feasible given the obvious challenges in the operating environment?

Of course, you will always have challenges when you construct pipelines in Nigeria. Those challenges come from the issues of security, issues of local conditions, road conditions because you have to move the line pipes by road most of the times. We do not have the robust rail system to do that. So, that impacts a lot on the speed.

Having said that, the timing put on this project is well articulated. It is feasible and we know it is possible. It is just that we have to work hard on it because it is necessary to do that.

So, when you look at the economic impact, I would say clearly that the impact of this project is massive in concept and will be massive in reality.

Continued from P19

one-year moratorium on its intervention facilities. It is also coordinating a private sector special intervention targeting N 120 billion.

In detailing the macroeconomic and social costs of the COVID–19 pandemic for Africa, the AfDB African Economic Outlook 2020 projected the African real GDP to contract by 3.4 percent in second half of 2020.

The bank calculates Africa’s cumulatively GDP losses to the coronavirus pandemic to range between $173.1 billion and $237 billion in 2020–21; adding that employment is projected to decline by 24.6 million jobs in 2020 with a GDP contraction of 1.7 percent .

And with a 3.4 percent GDP contraction, the bank stated that up to 30 million jobs could be lost.

“The brunt will be mostly felt by those in the informal sector, who account for more than half of the employed. The number of extreme poor in Africa was projected to reach 425.2 million in 2020 with no outbreak, but COVID–19 could increase that by 28 million with a 1.7 percent contraction in GDP and by 37.5 million with a 3.4 percent contraction.

“In 2021, those numbers would increase respectively by 34 million and 49.2 million as GDP growth continues to fall below population growth. The most affected economies are those with poor healthcare systems, those that rely heavily on tourism, international trade, and commodity exports, and those with high debt burdens and high dependence on volatile international financial flows.

“The overall impact of the pandemic on socioeconomic outcomes remains uncertain. It will depend on the unfolding epidemiology of the virus, the extent of its impacts on demand and supply, the effectiveness of public policy responses, and the persistence of people’s behavio-

ral changes,” AfDB stated.

In calling on African governments and their development partners to forge coordinated, targeted, and rapid collaboration to limit its impacts of COVID–19 pandemic and its repercussions, the AfDB warned that major humanitarian and public health disaster could hit the continent.

“With new cases of the virus infection doubling every 7 to 14 days for most countries in Africa, and with 33 of the countries having very low health system preparedness to face the pandemic, its impact threatens to upend the continent’s recent development trajectory and will require the undivided attention of African governments and the international community,” the bank stated.

The bank also warned that Africa’s GDP is projected to contract in 2020 by 1.7 percent in the baseline scenario, which assumes a substantial impact of the virus but over a short duration. In the worstcase scenario which considers a virulent impact of the virus beyond the first half of 2020, the bank stated, GDP would fall by 3.4 percent.

The AfDB also estimated cumulative loss to Africa’s GDP at a range between $173.1– $236.7 billion for 2020 and 2021; with a partial recovery of about 3.0 percent projected for 2021.

AfDB stated that oil, tourism and other resource intensive economies are expected to be hardest hit due to the worldwide travel restrictions and the collapse of oil prices.

For resource dependent economies like Nigeria, it said, growth in 2020 is expected to contract by more than 4 percent, while less resource-intensive economies with more diversified economic structures are expected to be more resilient to the shock.

The development bank pointed out that fiscal deficits are projected to double, and debt levels to increase by an additional 10 percentage points of GDP. “Thus, the pandemic would create an additional public sector financing gap of $122

billion. However, the tightening of global financial markets has been reflected in flight-to-safety trends that have drained liquidity from emerging markets— and in sharp declines in foreign direct investment, remittances, and portfolio flows,” it reported in the outlook.

In detailing the impact of the economic pointers to the lives of the people, the AfDB explained that additional 28.2 to 49.2 million Africans could be pushed into extreme poverty as an estimated 24.6 to 30 million jobs could be lost due to the pandemic.

“The direct impact of the pandemic on more than 23 million already vulnerable workers in Africa would drive the total number of people living in extreme poverty to 463 million in the worst-case scenario as unemployment levels jump,” it stated in the outlook.

AfDB recommended unified policy levers to contain the spread of the virus and minimize fatalities, ease liquidity constraints and solvency risks, cushion the economic impacts of the virus and protect vulnerable groups.

Other measures advocated by the bank include labor market policies that protect workers and their jobs, and structural policies to prepare for a post-COVID–19 world and build resilience to future shocks.

To reopen economies, the bank advised policymakers devise phased and incremental approach that balances the need for economic restart and health of the population.

“Across Africa, the response must be well-sequenced and multipronged, involving a public health response to contain the spread of the virus and minimize fatalities, a monetary policy response to ease liquidity constraints and solvency risks, a fiscal response to cushion the economic impacts of the pandemic on livelihoods and businesses, labor market policies to protect workers and their jobs, and structural policies to enable African economies to rebuild and enhance their resilience to future shocks.”

26

The Oracle Today Monday July 13 - Sunday July 19, 2020

BUSINESS

Post COVID-19: Africa’s growth stands to rebound to 3% in 2021 –AfDB

By KAYODE OGUNWALE

A

FRICA’S economic growth could rebound in 2021, provided that governments manage the COVID-19 infection rate well, according to updated forecasts from the African Development Bank, released on Tuesday.

In a comprehensive socio-economic assessment of the pandemic’s impact, the Bank said growth was now projected to rebound to 3 percent in 2021 from -3.4 percent in the worst-case scenario for 2020.

The predictions are contained in a supplement to the Bank’s African Economic Outlook, which was released on 30 January. At the time, Africa’s growth was forecast at 3.9 percent in 2020 and 4.1 percent in 2021.

The supplement cautioned that the growth outlook for 2021 and beyond would depend largely on African governments’ effectiveness in flattening the curve of the outbreak and policies to reopen economies.

Charles Leyeka Lufumpa, Acting Chief Economist and Vice President for Economic Governance and Knowledge Management, at the African Development Bank, said: “To reopen economies, policymakers needed to follow a phased and incremental approach that carefully evaluates the trade-offs between restarting economic activity too quickly and safeguarding the health of the population. “ “Economic activities can be restarted incrementally on the basis of the transmission risks of different sectors,” Lufumpa said.

The spread of the virus in Africa depends largely on the preparedness of countries to separate and treat infected patients, the supplement stated, noting that only 21 out of 54 African countries are clinically prepared to deal with epidemics.

Executive Director of the African Economic Research Consortium and Former Governor of the Central Bank of Kenya, Njuguna Ndung’u described the African Economic Outlook 2020 supplement

as “a very important and useful policy tool for African countries who actually need it at this time.”

“It will be useful now and in the future. It gives us important short, medium- and long-term strategies,” he added, stressing crises like COVID-19 present a good opportunity for innovative reforms in countries.

The supplement noted that the curve of the pandemic in Africa was flattening gradually. However, COVID-19 remains a serious threat to lives and livelihoods, given weak healthcare systems and limited social protection. The continent also remains vulnerable to other regional threats such as the locust swarms that have struck East Africa, as well as to extreme climate events.

Under projected scenarios for contraction of growth, Africa could lose between $145.5 billion and $189.7 billion of GDP in 2020, according to the publication.

Hanan Morsy, Director of the Macroeconomic Policy, Forecasting and Research Department at the African Development Bank, said “The African Economic Outlook 2020 Supplement shows that for the first time in the last half-century, Africa would be facing an economic recession as a fallout of the COVID-19 pandemic. This would affect the gains achieved in poverty reduction as an estimated 49 million Africans could be pushed into poverty, with about 30 million jobs at the verge of disappearing.

Policymakers need to act fast to alleviate the impact of the crisis on vulnerable groups through well targeted social safety net measures.”

Urgent interventions required The report called for urgent policy interventions to mitigate the impact of the pandemic: “Across Africa, the response must be well-sequenced and multipronged, involving a public health response to contain the spread of the virus and minimise fatalities, a monetary policy response to ease liquidity constraints and solvency risks, and a fiscal response to cushion the economic impacts of the pandem-

ic on livelihoods and to assist businesses.”

Other proposed interventions included labour market policies to protect workers and their jobs, and structural policies to enable African economies to rebuild and enhance their resilience to future shocks.

The supplement warned that the tourism, transportation, and entertainment sectors may take longer to recover. Between 2017 and 2018, African travel and tourism grew by 5.6 percent, compared with the global average of 3.9 percent.

According to Morsy, the supplement projected that, in the worstcase scenario, an additional 49 mil-

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vent manipulation of Personal Data; and ensure that Nigerian businesses remain competitive internationally.

“By this regulation therefore, all private and public organizations that collect, process, store, archive and destroy data of natural persons in Nigeria or of Nigerians resident abroad are required to comply with the provisions of the Regulation.

Analysts expect June inflation to hit 12.45%

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HE inflation rate for the month of June 2020 is projected to increase to 12.45 percent from 12.40 percent reported for May 2020.

According to analysts at Meristem Research, this rise would be

“Since the Commission and indeed all Capital Market Operators perform these activities on data as covered by the NITDA NDPR, we are also subject to the new regulation, in one way or the other. That explains the reason behind organizing today’s webinar to enlighten the capital market community on the provisions of the NDPR”.​

FBNInsurance pays N4.4bn claims in 6 months

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BNInsurance Limited has displayed resilience in its business strategy despite the negative impact of the coronavirus pandemic on the Nigerian economy. The company recently paid the sum of N4.4 billion in claims to its customers in the first half of the year 2020. This represents a 26.7 percent increase year-on-year when compared to N3.4 billion paid during the same period in 2019.

While briefing news men at the company’s Lagos head office, the Managing Director/Chief Executive Officer of FBNInsurance, Mr. Val Ojumah disclosed that prompt settlement of customers claims is one of the underpinning business suc-

June 2020. According to the supplement, reported figures were likely to be higher in reality because of limited testing capabilities in most countries.

The authors said to reopen economies, policymakers needed to follow a phased and incremental approach that carefully evaluated the trade-offs between restarting economic activity too quickly and safeguarding the health of the population. They also must build public trust and buy-in and address structural bottlenecks that make the continent more vulnerable to future shocks.

•Lagos Commissioner for Physical Planning and Urban Development, Dr. Idris Salako, addressing property owners and developers in Lekki, Ajah and Eti-Osa environs over need to ensure voluntary compliance with the Master Plan for the area, Thursday.

SEC, NITDA collaborate on Data Protection

HE Securities and Exchange Commission, SEC has restated its preparedness to collaborate with the National Information Technology Development Agency, NITDA in a bid to foster safe conduct of transactions and usage of personal data in the Nigerian capital market.

Director General of the SEC, Mr. Lamido Yuguda stated this during a webinar on Nigerian Data Protection Regulation and how it affects the Capital Market.

The event had as its theme:​Nigeria Data Protection Regulation (NDPR): Implications on the Nigerian Capital Market.

Mr. Yuguda stated that the Commission is very serious on the issue of data protection in the capital market assuring that going forward, the SEC would continue to create necessary awareness.

According to him, “You may all recall that in 2019, the National Information Technology Development Agency (NITDA) issued the Nigerian Data Protection Regulation (NDPR) with the objectives to safeguard the rights of natural persons to data privacy; foster safe conduct for transactions involving the exchange of Personal Data; pre-

lion Africans could be pushed into extreme poverty by the pandemic and its aftermath. The number of people in extreme poverty in Africa (using the $1.90 international poverty line) could reach 453.4 million in 2020 as a result of the pandemic, compared to 425.2 million under the no-outbreak scenario.

People in West and Central Africa faced a higher risk of falling into extreme poverty due to the pandemic, but COVID-19 would also deepen poverty in East and Southern Africa.

Confirmed cases of COVID-19 in 54 African countries stood at 304,642, with 8,087 reported deaths as of 22

cesses of the insurer as it strives to continually boost customers’ confidence and trust during the 10 years of the company’s existence.

According to Mr. Ojumah, “As a responsive and reliable insurer, we have -during this turbulent timekept our promise to our customers by paying claims promptly. Our focus remains to provide financial security and relief to our esteemed customers especially at this trying time.”

On a related note, the company has unswervingly delivered on its promise to its shareholders by paying dividends promptly. At the recently held virtual AGM, the company announced a full year dividend of

triggered by the continued rise in the prices of major food items as well as the COVID-19 pandemic, which caused a lockdown of the country’s economy.

In May 2020, the federal government slightly eased the lockdown it imposed on Lagos, Abuja and Ogun State, allowing few businesses to resume, but not at full capacity.

But in June, they were allowed to reopen fully, with strict adherence to the COVID-19 guidelines aimed to contain the spread of the disease like providing running water and soap for handwashing, hand sanitiser, observing social distancing, amongst others.

Despite the lifting of the restric97k per share for 2019 which represents a 49 percent increase over the 65k per share that was paid in 2018.

The company has consistently paid dividend to its shareholders since 2013.

As at year end, the total assets base of the company grew from N70.5billion in 2018 to N109bilion in 2019. This represents a 55 percent growth year-on-year of which over 90 percent are in liquid assets.

In a bid to continue to deliver seamless service to its customers, the company has invested and upgraded its digital platforms.

FBNInsurance Limited, was incorporated in 2010 to transact life insurance business in Nigeria and currently operates in over 60 sales outlets and two branches in addition to its head office located in Lagos.

tions by the government, some companies continued to operate remotely, allowing only those offering essential services to be at the office premises.

On Wednesday, July 15, 2020, the National Bureau of Statistics (NBS) is expected to release the June 2020 inflation report.

In its inflation expectation report, Meristem Research said, “We envisage an uptick in the headline inflation rate to 12.45 percent from 12.40 percent reported in May 2020.”

While commenting on the impact the prices of food will have on the numbers, analysts at the organisation noted that, “Although the panic purchase of food items which occasioned the announcement of lockdowns seem to have waned as restrictions were eased, we observe that food prices are still on the rise.

“Notable price increments were witnessed on maize, sorghum and rice in the month of June.

“We attribute this to the largely sticky nature of prices and the restriction on interstate movement during the month, while land borders remain shut.

“More so, data from the Central Bank of Nigeria (CBN)’s PMI report suggests an inflationary build up as input prices continue upward.

“Against this background, we expect inflation to inch higher in June.”

The Oracle Today Monday July 13 - Sunday July 19, 2020

INSURANCE & PENSION

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FBNInsurance settles N4.4bn claims in 6 months

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• Top management officers of AIICO Insurance Plc presenting reusable face masks to the non-governmental organizations, including; Nigerian Red Cross (NRC), in a donation also extended to We Stand Foundation and the African Clean Up Initiative (ACI) to demonstrate the company’s relentless commitment to its corporate social responsibility causes

AIICO moves to divest from pension business, sells 70% stake to FCMB Stories by VICTOR NZE

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IICO Insurance Plc (AIICO) has entered into discussions with FCMB Pensions Limited for the divestment of its interest in its Pension subsidiary, AIICO Pension Managers Limited. The proposed sale will see a full uptake of AIICO’s 70 per cent stake in the Company.

The proposed transaction is subject to the approvals of the National Pension Commission (PenCom) and the Federal Competition and Consumer Protection Commission (FCCPC).

This divestment is for two reasons, according to the Managing Director/ CEO, Babatunde Fajemirokun, “the first is to unlock the value that is greater than holding the asset as a subsidiary now and in the future.

The second reason is to deploy the ensuing capital in other assets where AIICO has a stronger competitive advantage, thereby maximising long-term value for its stakeholders.

It is not driven by the Company’s recapitalisation plans which is on its own path and nearly complete.”

In a related development, AIICO Insurance Plc has formally kickedoff next phase in its recapitalization strategy as the firm submitted application to the Nigerian Stock Exchange (NSE). The development is said to be way ahead with its recapitalization plans.

The application to the NSE was for the approval and listing of 4,357,770,954 ordinary shares of fifty Kobo each at eighty Kobo per

share, on the basis of five new ordinary shares for every thirteen ordinary shares held.

A statement to that effect issued by the company’s Head, Strategic Marketing & Communications, Segun Olalandu, said AIICO Insurance Plc shareholders now have the opportunity to increase their stake and position themselves for higher returns in a company with excellent prospects.

It would be recalled that AIICO’s recapitalization journey started in earnest when the insurance regulator, the National Insurance Commission (NAICOM) set a strategic plan to increase the capacity of the industry to take on more risks. Responding to this, AIICO quickly articulated a clear path to meet the new minimum regulatory capital requirement.

The company followed through with regular communications at all stages in the execution of the strategy with its shareholders, who have been supportive of the efforts.

In February 2020, the company completed its private placement successfully with 38.83 per cent of its shares snapped up by two strategic investors; LeapFrog Nigeria Insurance Holdings Limited (28.24 per cent) and AIICO Bahamas Nigeria Limited (10.59 per cent), raising the share capital from N6.1bn to N11.3bn.

The Rights Issue is expected to generate N3.5bn, bringing the Company closer to meeting the required minimum paid-up capital of N18 bil-

lion. The exercise will be followed subsequently with a capitalisation (bonus) issue, which has a qualification date of 23 September 2020.

Olalandu noted that insurance industry, as with others, is facing daunting challenges as a result of the pandemic.

“As a result, NAICOM recently revised its recapitalization guidelines; 50 per cent of the new minimum capital to be achieved by December 31, 2020, while the deadline for overall completion has been extended till September 30, 2021. AIICO has however maintained an unbroken focus on its journey to its recapitalization,” he said.

The company also provided updates on the convertible loan instrument with the International Finance Corporation (IFC). It obtained a loan of US$7million from the IFC on June 30, 2015, at an interest rate of 6.5% plus 6-month LIBOR for seven years with a moratorium period of 4 years on the principal. The loan had an embedded derivative (a conversion option) whereby IFC had the right to convert all or a portion of the outstanding principal amount into the equivalent number of shares of the Company.

The loan repayment is in six equal instalments starting in March 2020 and is expected to end in September 2022 except if prepaid before then.

This convertible option, however, expired in December 2019 without the IFC exercising its option. Hence, the loan is now a straight loan without a conversion option till maturity.

rian Stock Exchange ‘Mask for All Nigerians’ campaign initiative.

This is against the backdrop of Federal Government’s directive for the compulsory use of facemasks in public places as a means to curtail the spread of COVID-19 as it gradually eases lockdown nationwide.

“AIICO recognizes the need to impact society in meaningful ways such as this. Our hope is that by donating reusable facemasks, we join to help facilitate the adherence

to this safety guideline from the government and the World Health Organization, WHO.” Stated, Abimbola Shobanjo, AIICO’s Corporate Responsibility & Sustainability Manager.

It will be recalled that during the nationwide lockdown, AIICO organized a feeding relief programme to feed the less privileged and also donated post-natal hygiene kits to nursing mothers in poor communities in Lagos.

... donates reusable facemasks to curtail spread of Covid-19

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IICO Insurance Plc has donated reusable facemasks to the Nigerian Red Cross (NRC), We Stand Foundation and the African Clean Up Initiative (ACI) in a demonstration of the company’s relentless commitment to its corporate social responsibility causes.

These Non-Governmental Organizations are actively leading initiatives for public health and humanitarian causes in battling COVID-19.

This is in alignment with the Nige-

BNInsurance Limited says it paid N4.4 billion in claims to its customers in the first half of the year 2020.

This represents a 26.7 per cent increase year-on-year when compared to N3.4 billion paid during the same period in 2019.

While briefing news men at the company’s Lagos head office, the Managing Director/Chief Executive Officer of FBNInsurance, Mr. Val Ojumah disclosed that prompt settlement of claims is one of the underpinning business successes of the insurer as it strives to continually boost customers’ confidence and trust during the 10 years of the company’s existence.

“As a responsive and reliable insurer, we have -during this turbulent time- kept our promise to our customers by paying claims promptly. Our focus remains to provide financial security and relief to our esteemed customers especially at this trying time,” said Ojumah.

It would be recalled that during the recently held virtual AGM, the company announced a full year dividend of 97k per share for 2019 which represents a 49 per cent increase over the 65k per share that was paid in 2018. The company has consistently paid dividend to its shareholders since 2013.

As at year end, the total assets base of the company grew from N70.5billion in 2018 to N109bilion in 2019. This represents a 55 per cent growth year-on-year of which over 90 per cent are in liquid assets.

It would be recalled that month,

FBN Holdings Plc and Sanlam Emerging Markets Proprietary Limited announced the completion of the sale and transfer of FBN Holding’s 65 percent stake in FBN Insurance to Sanlam Limited.

The Boards of Directors of both organisation stated this in a divestment announcement sent to the Nigerian Stock Exchange (NSE) on Tuesday, June 2, 2020.

The divestment announcement was jointly signed by Mr Urum Kalu Eke, FBN Holdings Group Managing Director and Mr Heinie Werth, Sanlam Chief Executive Officer.

The statement said the divestment confers full ownership of FBN Insurance and its subsidiary, FBN General Insurance Limited on Sanlam.

“This effectively confers full ownership of FBNI and its subsidiary, FBN General Insurance on Sanlam forthwith, following receipt of all relevant regulatory approvals.

Both organisations had activated the shareholders agreement which provides pre-emotive rights to Sanlam.

“Accordingly, and as has been indicated in the Share Purchase Agreement, the effective date of the divestment is June 1,” the statement read.

FBN Holding in April had notified the exchange of on-going discussions with its partner Sanlam Emerging Markets to divest 65 percent equity in FBN Insurance Limited.

StanbicIBTC boss worries over low insurance penetration in Nigeria

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hief Executive of Stanbic IBTC Insurance Brokers Limited, Mr Anselem Igbo, has expressed worry over what he termed ‘all-time low’ level of insurance penetration in Nigeria.

Igbo who noted that the low penetration has a huge negative effect on the businesses and the economy as well as individuals, expressed this view during a recent virtual media parley held virtually in Lagos to commemorate the World Insurance Awareness Day with discussions themed; ‘Insurance being a necessity: Securing the future, protecting what’s important.’

“As of today, insurance penetration in the country is at an all-time low and this isn’t favourable for the well-being of individuals, businesses and the economy in general.

“The insurance business is a unique one which enables clients effectively manage their risks. Such risks may include theft, accident, robbery, injury, man-made and natural disasters, and even death,” he said.

Speaking further, he advised Nigerians on the importance of insurance so as to deepen its coverage in the country, emphasising that, “Insurance helps to achieve peace of mind through risk transfer and efficient insurance claims.”

Igbo said he understands that some people may have refused to subscribe to any insurance problem because of the bottlenecks faced when filing for claims, he said his

company takes time to advise clients on what product they should go for.

“Our solutions serve individuals and corporate entities, as well as existing customers and non-customers of the Stanbic IBTC Group.

“As insurance professionals with a vast knowledge of the workings of the insurance market, we can arrange the most suitable policies for our individual and corporate clients.

“There are various personalised insurance products and services which serve all classes of the society from individuals to groups, associations and large corporates.

“As Nigeria’s leading insurance brokerage company, Stanbic IBTC Insurance Brokers offers life, hope and support particularly in the wake of the current global pandemic.

“We will not relent in our effort to continually seek opportunities to help businesses, individuals and even the government boost resilience in these times. We remain keen on providing seamless solutions that suit diverse needs,” he said.

Other executives of the company at the meeting, including Ms Sakeenat Bakare, the Executive Director/Business Development and Support Services; Ibiyemi Mezu, the Head of Business Development Division; Mr Ibraheem Kadiku, the Head of Underwriting; and Mr Adebisi Oresanya, the Head of Claims, assured Nigerians to get the best if they subscribe to any insurance product through Stanbic IBTC Insurance Brokers.

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The Oracle Today Monday July 13 - Sunday July 19, 2020

Travel & Hospitality How Covid-19 ruined hotel development in Nigeria -- Report Stories by VICTOR NZE

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ravel and tourism remains one of the worst hit, if not the worst, industries by the Coronavirus disease (Covid-19) pandemic.

In Nigeria, the hospitality subsector is still reeling from the impact of the pandemic with the Federal government yet to evolve safety protocols for resumption of operations in the industry.

However, with the reopening of domestic commercial aviation operations in the country, the tourism industry may soon be getting a reprieve.

With hotels in Nigeria presently under lock and key, while other leisure and entertainment centres undergoing strict regulations in observance of safety protocols for Covid-19, these are not the best of times for the hospitality industry.

Several pipeline hotel projects planned for Nigeria by the global brands have either put on total hold or outrightly cancelled due to Covid-19, capacity of operating hotels have been drastically downsized to meet with operating costs.

According to the twelfth annual survey by W Hospitality Group, Africa hotel development has been devastated by Covid-19 that affected Africa’s key tourist markets in Europe, the United States, Southeast Asia, and some African tourism business sources.

African hotel development had made a come-back growth at the start of 2020, with more than 78,000 rooms in 408 hotels in the pipeline, the twelfth annual survey

by W Hospitality Group had indicated.

The survey posits that Covid-19 has done damage to the dreams of Africa’s hotel industry, according to W Hospitality Group’s Managing Director, Trevor Ward.

“The growth of the chain’s presence in Africa has been a very positive story since 2009 when we started this analysis. It is quite clear from the numbers that the chains, the developers, the investors, and all of us at W Hospitality Group continue to believe in the opportunities that Africa presents in the hotel and tourism industry,” he added.

“However, our industry has been devastated by the impact of COVID-19, possibly more so than most other economic sectors, mainly because of the almost total shutdown of borders and of the aviation sector – no flights means no guests.

“With that background, we see a slowdown in pipeline growth in 2020, as we all get to grips with the new reality. With so many of the players locked down, fewer deals will be signed, and it is inevitable that some of the planned openings in 2020 will be delayed,” Ward said.

Ward said that other setbacks were observed due to closed or slower-paced construction sites, restrictions on funding, and a lack of market demand.

According to the latest data, there are 90 hotels with 17,000 rooms scheduled to open in 2020, but the

estimate showed that at least half of these will be delayed, bringing the actualization rate down to no more than 40 percent.

This year’s African Hotel Chain Development Pipeline survey covers 35 international and regional hotel contributors across 54 countries in north and sub-Saharan Africa and in the Indian Ocean islands.

It reveals a 3.6 percent increase on the 2019 pipeline. Most encouraging was a record 68 chain hotels opening last year, fully 75 percent of those which were scheduled to open, with 11,000 rooms. That performance was substantially up from the 39 percent of those scheduled to open in 2018 actually doing so.

Accor performed particularly well; it opened 18 hotels last year with almost 3,500 rooms in its various brands, ranging from Ibis to Fairmont.

“We have to wait and see what will happen in the second half of 2020 and in 2021 as we emerge from lockdown and other restrictions. Tourism is such an important industry in Africa,” Ward said.

“Because of the direct and indirect jobs that it creates and sustains, as well as its strong foreign currency earnings, we are anxious to see hotels reopen and get back to contributing to the African growth story,” he noted.

Matthew Weihs, Managing Director of Bench Events, which is staging Africa Tomorrow, said: “Right now, we are facing the biggest recession in history. For those seeking to operate hotels, it is a dreadful time.”

However, for the savvy investors, this is actually a moment of opportunity, because hotels are a longterm investment, and one of the secrets of success is to spend money during the bottom of the economic cycle in order to capitalize on the upturn as soon as it comes.

“That’s one reason why I expect the networking sessions at Africa Tomorrow will be very busy and fruitful,” Weihs said.

As expected, Marriott, the world’s largest hotel chain, has the largest pipeline in Africa – 22 percent more hotels and 6 percent more rooms than second-placed Accor, but Accor has been catching up fast, signing 25 new deals last year, compared to Marriott’s 17 new projects.

• Lagos Commissioner for Tourism, Arts and Culture, Mrs. Uzamat Akinbile-Yusuf (third from right) flanked by artiste, Falz, and other top functionaries at the ministry after a meeting with some top musicians and disc jockeys including; , MI Abaga, Dr. Sid, Teni, on post-Covid rejuvenation for the industry, Thursday, in Ikeja, Lagos

Post-Covid-19: NCAC concludes 1st restrategisation phase for industry operators

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ational Centre for Arts and Culture (NCAC) has rounded off the first phase of its ‘Agenda Setting for the Nigerian Creative Industry’-themed virtual workshop for operators and regulators in the culture and tourism sector of the country’s economy.

The final installment in the sixweek series held, Saturday, with a packaged video compilation of destinations as well as top draw events in the cultural and tourism calendar of Nigeria titled: ‘Virtual Cultural Tour of Nigeria; Our Culture, Our Pride.’

The presentation was, however, preceded by goodwill messages by prominent participants including; President of BEN TV, United Kingdom, Mr Alistair Soyode, the Cuba ambassador in Nigeria Clara Pulido, the Aka Ibom State Tourism Board Chairman, Ini Akpabio, Technical Director for the Calabar Carnival Mr David Lopez, Organiser of the Akwaaba Travel Market, Mr Ikechi Uko, Operator of Remlords Tours & Car Hire Services and Chairman, Board of Trustees, Nigerian Association of Tour operators (NATOP), Mr Nkereuwem Onung, President of the National association of Nigerian Travel Agents (NANTA), Mrs Susan Akporiaye, and others.

The event drew about 300 participants from across various social media platforms, including Facebook and Zoom.

Declaring the event closed, Director General of NCAC, Otunba Segun Runsewe, informed that the sixweek series had drawn participants and representations from 18 countries from nearly all continents of the world, just as he announced that the

programme will resume after a twoweek break to enable organisers improve content.

According to Runsewe, the criticism, suggestions and commendations garnered all through six weeks of the series would be taken into consideration in reformatting next phase of the series to kick off in two weeks’ time.

“We are not ending the series yet.

We are only closing the first phase so as to return in two weeks with a better package with facilitators and experts from other fields of the economy. The aim remains the same, which is to empower and inform the operators in the creative sector and prepare them for the post-Covid-19 era.

“Representatives from 18 countries have participated in the six weeks of this programme. Today alone, there are over 200 participants on Facebook with others on all other social media platforms. This shows how popular this programme has become among the youth especially,” said Runsewe.

The series which kicked off last May 14 with a talk by Mr Israel Eboh, President of the National Association Nigerian Theatre Arts Practitioners (NANTAP) and followed by the presentation from the NANTA president, Akporiaye on ‘Creating New Business Opportunities for the Travel Agents, has seen other facilitators deliver talks on aspects of the creative industry for operators and regulators.

It would be recalled that Runsewe had formally initiated the virtual platform via Zoom to rally creative industry regulators and practitioners on the imperative of restrategising op-

erations in view of the disruption occasioned by the Coronavirus disease (Covid-19) pandemic, back in May. While inaugurating the series, Runsewe noted that it had become imperative for creative industry practitioners to explore other workable options available in mining the sub sector’s potential aside the old conventional modus that had become inaccessible due to the damage caused by the Covid-19 pandemic globally.

“The creative industry offers vast opportunity in our search for economic diversification.

About 250 billion dollars annual revenue is generated globally from the sector. It also accounts for about 29.5 million jobs. Nigeria must take advantage of the potentials available in the sector.

“Nothing succeeds in this world without proper planning and effective coordination. This makes the need for agenda setting for the sector imperative, to harness and channel the vast opportunities in the sector to empower our people and strengthen our economy.

“This online zoom series Agenda Setting for the Nigerian Creative Industry is a platform to engage with critical stakeholders in order to aggregate views and opinions of industry players in various sub-sectors to set agenda for the creative industry,” said the NCAC chief.

The inaugural edition which was tagged: “Covid-19: Impact on Nigeria’s Creative Industry,” featured President of the National Association of Nigerian Theatre Art Practitioners (NANTAP), Mr Israel Eboh, as speaker.

in both Badagry and Epe in order to boost tourism in the State.

He explained that due to the contributions of both Badagry and Epe to the historical growth of Lagos, the State Government has already commenced consultations and discussions on how to create jobs, showcase talents and train aspiring students in both communities.

While noting that Badagry would serve as the pilot phase for the project, the Special Adviser disclosed that the State government’s aim was to create a platform that would help

attract foreign investors, promote its creative market and give operators in the industry opportunities to showcase their works.

He said that the plan of the State government was not just to create craft communities, but build a market where creativity would be valued.

“The creation of craft villages is long overdue for the protection of people in the sector, this informed the approval by Governor SanwoOlu for the establishment of a unifying market for the sector in these

two strategic locations”, Bonu reiterated.

The Special Adviser expressed the readiness of the State government to put into consideration the interest of all relevant stakeholders in the creative arts business with a promise to seek their buy-in from the inception of the project.

Bonu equally appealed to the Federal Government to pay attention to the dilapidated state of the OkokoBadagry Expressway as a way of boosting tourism businesses along that corridor.

Lagos to establish arts, crafts villages in Badagry, Epe

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agos Government said that it has identified Badagry and Epe as the proposed locations for the establishment of craft villages designed to provide stakeholders within the creative sector an avenue for ease of doing business and the opportunity to train new talents.

Speaking during a courtesy visit to Nike Art Gallery in Lagos recently, the Special Adviser to Lagos State Governor on Tourism, Art and Culture, Mr. Solomon Bonu said that Governor Babajide Sanwo-Olu has mandated the Ministry to create craft villages

The Oracle Today Monday July 13 - Sunday July 19, 2020

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AVIATION Global aviation industry losses to top $84bn in 2020 -- IATA Stories by VICTOR NZE

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irlines all over the world are expected to register losses of up $84.3 billion in 2020 for a net profit margin of -20.1 per cent, according the just-released financial outlook of the International Air Transport Association (IATA) for the global air transport industry.

This is also as Nigerian air transport operators have continued to clamour for Federal Government financial relief due to huge financial losses suffered following the suspension of industry activities in the wake of the coronavirus disease (Covid-19) pandemic which hit the country in

March, this year.

The country, on July 8, resumed domestic air transport after the initial June 21 date, but with stringent reduction in capacity for operating airlines by up to 70 per cent due to regulations imposed by regulators which had issued a new Standard Operating Procedure (SOP) guided by safety protocols for Covid-19 management for aviation operators and stakeholders.

Regulators also directed flight spacing, middle seat and last row reduction in seating arrangement, all of which, operators say, has made it difficult to cover losses incurred during the suspension of business.

According to IATA revenues will fall 50 per cent to $419 billion from $838 billion in 2019, adding further that in 2021, losses are expected to be cut to $15.8 billion as revenues rise to $598 billion.

“Financially, 2020 will go down as the worst year in the history of aviation. On average, every day of this year will add $230 million to industry losses. In total that’s a loss of $84.3 billion. It means that—based on an estimate of 2.2 billion passengers this year—airlines will lose $37.54 per passenger. That’s why government financial relief was and remains crucial as airlines burn through cash.”

“Provided there is not a sec-

• Aviation, Senator Hadi Sirika, Director General, Nigerian Civil Aviation Authority, Capt. Musa Nuhu, the Managing Director, Federal Airports Authority of Nigeria, Capt. Rabiu Yadudu, National Coordinator, Presidential Task Force, Dr. Aliyu Sanni, Chairman, Air Peace, Mr. Allen Onyema, amongst several other stakeholders during the recent dry run simulation exercises at domestic terminals of the Nnamdi Azikiwe International Airport, Abuja and Murtala Muhammed Airport, Lagos respectively

Delta unveils long-term unique global cleanliness division

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elta Air Lines has established the airline’s first Global Cleanliness division, a new department within the Customer Experience organization dedicated to innovating and evolving our alreadyhigh cleanliness standards.

In the three months since the global pandemic dramatically impacted the world, teams across Delta quickly and effectively established a new standard of cleanliness for Delta, and its industry.

This latest move, the airline said is a unique way for the global carrier to continue bringing laser focus to cleanliness efforts as part of the layers of protection it is offering customers.

It added that the cleanliness

transformation that customers experience today is the foundation upon which Delta’s future travel experience is being built for its customers to enjoy.

Leading the organisation is Vice President, Global Cleanliness, Mike Medeiros.

According to the Chief Customer Experience Officer, Bill Lentsch; “Mike has been a steadfast leader in our transformation and cleanliness focus to date, effectively working across teams to coordinate our massive efforts at scale.”

He continued: “This team will bring the same focus and rigor to cleanliness that we’re known for in transforming customer expectations for on-time, completion and

baggage performance, so that customers can feel confident when choosing to fly with us.”

The Global Cleanliness organisation will further develop and execute Delta’s cleanliness standards, methods and quality management to ensure a consistently safe and sanitized experience across our facilities and aircraft for employees and customers, alike.

“Nothing is more important than the health and safety of our colleagues and our customers. I am looking forward to innovating our processes and elevating our standards so that every customer, every flight feels confident in their choice to fly with Delta,” Medeiros added.

Dana Air launches WhatsApp booking for passengers

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ana Air has introduced WhatsApp Booking in line with the social/ physical distancing measures of COVID-19 and to create ease of booking, payment and inquiries for its passengers.

According to a statement issued by the airline, the WhatsApp booking, payment platform, which is the first of its kind in Nigeria, will serve as an additional platform for booking, inquiries, reservation and payment apart from the airline’s website, the Dana Air Mobile App and the self-service kiosk at MMA2 Ikeja, Lagos.

“We care about the well-being of our guests and we want them to be

safe. This is why we are introducing this initiative to keep our guests safe, while still booking and paying the smartest and safest way from anywhere around the world.

“This additional booking platform and many others in the months to come are part of our strategies to keep our guests booking safely, and flying safely, without stress. It is safe, faster and user-friendly.

“The WhatsApp booking will be operational from 7am to 6pm daily for a start, while we are working out modalities to make it 24 hours 7 days in a week. All our customers need to do is just send us a chat on 07051190363 (WhatsApp only) and

it’s done. So easy.

“We are also working on other booking initiatives that will guarantee ease of booking with or without a Smartphone for the busy, young and old within Nigeria and beyond.

“As a customer-centric airline, what we think about daily is to make booking and flying seamless for our guests by introducing the first of its kind of innovative online products. Introducing this initiative at this time only demonstrates our commitment to the safety, well-being and comfort of our guests,” said Media and Communications Manager of Dana Air, Kingsley Ezenwa.

ond and more damaging wave of COVID-19, the worst of the collapse in traffic is likely behind us. A key to the recovery is universal implementation of the re-start measures agreed through the International Civil Aviation Organization (ICAO) to keep passengers and crew safe. And, with the help of effective contact tracing, these measures should give governments the confidence to open borders without quarantine measures.

That’s an important part of the economic recovery because about 10 per cent of the world’s GDP is from tourism and much of that depends on air travel. Getting people safely flying again will be a powerful economic boost,” said IATA’s Director General and CEO, Alexandre de Juniac.

IATA said that it is the biggest driver of industry losses. At the low point in April, global air travel was roughly 95 per cent below 2019 levels, adding that there are indications that traffic is slowly improving.

IATA added that nonetheless, traffic levels (in Revenue Passenger Kilometer) for 2020 are expected to fall by 54.7 per cent compared to 2019.

According to IATA passenger numbers will roughly halve to 2.25 billion, approximately equal to 2006 levels while capacity, however, cannot be adjusted quickly enough with a 40.4 per cent decline expected for the year.

Passenger revenues, it said are expected to fall to $241 billon (down from $612 billion in 2019), adding that this is greater than the fall in demand, reflecting an expected 18 per cent fall in passenger yields as airlines try to encourage people to fly again through price stimulation.

Load factors, IATA also posited are expected to average 62.7 per cent for 2020, some 20 percentage points below the record high of 82.5 per cent achieved in 2019.

IATA released that costs are not falling as fast as demand and that total expenses of $517 billion are 34.9 per cent below 2019 levels but revenues will see a 50 per cent drop.

Non-fuel unit costs, it added will rise sharply by 14.1 per cent, as fixed costs are spread over fewer passengers.

Lower utilization of aircraft and seats as a result of restrictions will also add to rising costs.

The IATA outlook stated that fuel prices would offer some relief, stressing that in 2019 jet fuel averaged $77/ barrel whereas the forecast average for 2020 is $36.8.

Fuel, the body said is expected to account for 15 per cent of overall costs compared to 23.7 per cent in 2019.

On cargo, IATA said is the one bright spot and that compared to

2019, overall freight tonnes carried are expected to drop by 10.3 million tonnes to 51 million tonnes.

It however stated that a severe shortage in cargo capacity due to the unavailability of belly cargo on (grounded) passenger aircraft is expected to push rates up by some 30 per cent for the year.

“Cargo revenues will reach a near-record $110.8 billion in 2020 (up from $102.4 billion in 2019). As a portion of industry revenues, cargo will contribute approximately 26 per cent –up from 12 per cent in 2019,” IATA outlook revealed.

All regions, IATA said will post losses in 2020 and that the crisis has taken on a similar dimension in all parts of the world with capacity cuts lagging about 10-15 percentage points or more behind the over-50 per cent fall in demand.

It would be recalled that the airline operators’ body, Airline Operators of Nigeria (AON) had called on the Ministry of Aviation to take a cue from the Central Bank of Nigeria (CBN) by directing the various agencies under its supervision to immediately put in place and extend critical palliative measures to Nigerian airline operators in order to reduce the burden of colossal loses they have suffered and continue to suffer from the impact of the virus on air travel.

Nigerian airlines, Chairman of AON, Capt. Nogie Megisson, stated, are suffering heavily from the impact of the Covid-19, as the passenger numbers have dropped drastically and that overheads remain the same on many fronts and even increasing significantly on other fronts.

“The agencies should therefore help the airlines by immediately streamlining the over 32 multiple charges given to airlines which are mostly double billing. Government should also bear 100 per cent cost of disinfecting all aircraft for this period and provide thermal scanners and hand sanitizers as well as mobilize more manpower and training of Port Health Personnel at our local airports to encourage more people to travel.

“What we are asking for is not unprecedented. For instance, in the United Stated of America, airlines are seeking a $50 billion bailout. As part of its response, an Emergency Stimulus Package was passed by the US Senate and House and they reduced interest rates to 0.25 per cent. Also, the bill granted their airlines tax credit for their losses during the Pandemic.

“Our government can do the same therefore by granting the above stated reliefs to Nigerian airlines as a way of assisting them during this very difficult time to recover from their losses,” the airline operators chief said.

Ibom Air to commence LagosCalabar operations from July 20

A

kwa Ibom State-owned Ibom Air has concluded plans to commence flights to Calabar, the cros river State capital, from Monday, July 20.

The airline previously operated three destinations in Lagos, Uyo and Abuja and was one of the airlines cleared by the Nigerian Civil Aviation Authority (NCAA) to restart operations from Lagos to Abuja on July 8 at the resumption of domestic flights.

The airline said the new LagosCalabar-Abuja route will be operated daily.

“With great excitement, we an-

nounce Ibom Air’s newest destination, the Paradise. It’s of Calabar.

“Beginning from Monday the 20th of July 2020, Ibom Air will fly from Lagos and Abuja to and from Calabar daily, bringing our trademark schedule reliability, on-time departures and superior service to our customers on this route!”

“At Ibom Air, we are totally driven by the desire to bring pleasure and pleasantries back into flying. That’s why we are pleased to be able to offer our Calabar-bound passengers the experience of travel in comfort, convenience and style,” the airline statement read.

30

The Oracle Today Monday July 13 - Sunday July 19, 2020

e-Platform

Google’s Android 11 to be ready, September 8

L

ast Wednesday, Google released the Android 11 Beta 2 build with a bunch of bug fixes. There are also some minor changes throughout the UI of the new Beta build. Google also inadvertently revealed that it plans to release Android 11 publicly on September 8.

During a “Hey Google” Smart Home Summit presentation on YouTube, a caption revealed when Android 11 is supposedly going to be officially released, presumably for Google Pixel devices.

Already, Google has posted the release notes on Android Developer site. Fixes include gesture control

Samsung ends support for Galaxy S7, others, mulls removing charger from packs

•The new Samsung Galaxy Watch 3

HP boosts remote working with innovative laptops, desktops

H

P Inc. has introduced new additions to its Personal Systems portfolio designed to help people stay productive – whether they continue working from home or prepare to return to the office.

The new products include the HP EliteBook x360 1030 G7 and HP EliteBook x360 1040 G7, HP EliteBook 835 G7, HP EliteBook 845 G7, and HP EliteBook 855 G7 (available in Nigeria from end of August 2020), HP EliteBook 830 G7, HP EliteBook 840 G7, and HP EliteBook 850 G7 (now available in Nigeria since June 2020), and HP EliteBook x360 830 G7 (also available in Nigeria).

Others are HP EliteOne 800 G6 All-in-One PC (available in Nigeria from early November), HP Collaboration All-in-One G6 with Zoom Rooms whose availability will be announced at a later stage, HP EliteDesk 800 G6 Desktop Mini PC (available in Nigeria from end of July 2020), HP EliteDesk 800 G6 Small Form Factor PC and HP EliteDesk 800 G6 Tower PC (both expected to be available in Nigeria from end of September 2020; the HP ProDesk 600 G6 Series and the HP ProDesk 400 Series (expected to be available in Nigeria from end of July 2020); as well as the ZBook Firefly 14 G7 and ZBook Firefly 15 G7 which are expected to be available in the country from early July 2020.

The list also includes the HP E Series Monitors (available in Nigeria this June), the HP E14 Portable Monitor available in Nigeria by end Q1 2021, the HP U27 4K Wireless Monitor whose availability will be announced at a later stage, and the HP Device Provisioning Services which is available now to customers, but expected to be available for channel partners in the second half of 2020.

“As we experience a new normal that blurs reality between life and work, it’s clear that the PC is essential – allowing us to work, live, learn, collaborate, and create regardless of distance,” said Alex Cho, president, Personal Systems, HP Inc. “Today’s line-up of innovative products, our largest commercial product launch ever, including the next generation of Elite PCs and desktops, the world’s first ergonomic monitors with always-on low blue-light, and the world’s brightest 14-inch mobile workstation, along with dedicated services to improve remote employee experiences, reinforces HP’s commitment to equipping workers with the right tools, power, and performance for the ultimate work from home experience.”

The latest HP EliteBooks are designed for superb connection and collaboration for powerful business resiliency. 5G or Gigabit Class 4G

LTE makes it easy to get connected and get work done. The wide-angle camera with an 88-degree field of view combined with AI-based audio that minimises background noises and makes video conference experiences sharper and clearer.

Tapered edges make the devices easier to open, the redesigned keyboard with rubber dome keys provides an extremely quiet typing experience, and the integrated webcam privacy shutters physically block the camera for immediate and worry-free privacy.

The HP EliteBook x360 1030 G7 and HP EliteBook x360 1040 G7 are premium laptops that are 6.3 per cent smaller than the previous generation and boast up to an 89 per cent screen-to-body ratio, the highest in a business convertible. The laptops feature 10th Gen six-core Intel Core vPro processors for maximum performance.

The HP EliteBook 805 G7 and HP EliteBook 800 G7 Series PCs are designed to meet the demands of the multi-task, multi-place workday – now with both AMD and Intelbased processor options. Available with 13.3”, 14”, and 15.6” diagonal screens, users get a powerful, highly secure, and durable laptop that keeps them connected and productive in any setting.

Motorola Moto G8 arrives Africa as One Vision Plus

A •Motorola G8

behavior, and a fix that hindered the keyboard from appearing properly.

Audio is no longer distorted on some loudspeakers, and there was some funky business with the volume controls when the phone was set to Vibrate.

As with any Beta product, there are still issues outstanding throughout the interface including intermittent Wi-Fi connections, notification drawer issues, and an issue that some Pixel 4 users won’t be able to revert to Android 10 via OTA. Check out the Source link to see Google’s full release notes.

lthough Motorola launched the Moto G8 Plus in the mid2019, the phone is now only making it to the Middle East-Africa region under a new name - Motorola One Vision Plus.

This is exactly the same Snapdragon 665-powered phone with 4 GB RAM, but instead of 64GB of storage, the company doubled it - it is now 128 GB. This phone comes with 6.3” LCD, with the fingerprint scanner being on the back. There is a 4,000 mAh battery inside with 15W TurboPow-

er charging, although Motorola ships an 18W charger in the retail box. Other specs include a 48MP main cam, 25MP selfie shooter in a waterdrop notch, FM radio, 3.5 mm audio jack - everything you might want from a midranger.

The phone, offered in both Cosmic Blue and Crystal Pink, will be shipped by the end of this week for Prime members. It is over 30 per cent cheaper than what it costs in Europe - Amazon has it discounted from $190 (about N80, 000).

I

t is officially the end of the road for the Samsung Galaxy S7 active and the old Galaxy Tab A 10.1 – as far as receiving security updates is concerned. Still, both devices were released in 2016, which means they have received support for 4 years.

Those are not the only changes to Samsung’s update schedule, several devices were bumped down from the Quarterly Update list to “Other Regular Security Updates”.

Other changes in Samsung’s update schedule include: Galaxy S8 Lite, Galaxy A6+ (2018), Galaxy J7 Top, Galaxy J6, Galaxy J4, and Galaxy J3 Top These were demoted to quarterly updates back in April 2019. At the time the S7 Active was still getting monthly security updates while the Tab A 10.1 was already in the “Other” column.

Meanwhile, in a related development, Apple may not be the only company considering removing the charger from the retail box, as Samsung is thinking the same thing.

The company will start next year and only some models will be affected.

Removing the charger from the affordable segment will have a big-

ger relative impact on the price (this is a move to save on manufacturing costs). Also, entry-level phones are less likely to require a special high power charger so the ones you already have at home will likely do the job.

On the other hand, dropping the bundled charger from premium Galaxy phones also makes sense as some models support 45W charging but come bundled with only a 25W power brick. So, if you want 45W you may to buy a charger separately anyway, plus you would not have much use for the one you got with the phone.

The looming question is how consumers will react to this move – will it lead to a drop in sales. It depends on what other changes will be made alongside removing the charger (for example, lowering the price).

Samsung ships around 400 million smartphones a year, which means it pays for 400 million chargers as well. This move can see this number drastically reduced, which may be bad news for the companies making the chargers. They may lose the guaranteed business and may need to start marketing to consumers to make up the difference.

LG commences work on 5G mid-rangers, including the LG Q92 5G

L

G trademarked a whopping 13 Q-series phone names back in May. Now it becomes clear that some of them will be 5G-enabled as more naming details have surfaced. Specifically, the LG Q92 5G (LM-Q920N), which will likely be a lower cost alternative to the LG Velvet 5G. It seems that it was going to be called “LG Q9 2020 5G” initially, but the company changed its mind. There’s more, looking at the list of model names it’s clear that there will be devices for KT

and LG U+ (two of the top three carriers in South Korea).

The “128G” likely refers to the storage capacity, 128GB, while the letter after that should be the color – Green, Red, White and Teal. Plus, Black most likely for the model without an extra letter.

LG’s trademarks cover a wide range of Q-series models – from Q3x through Q5x and Q6x to the top of the line Q9x. This includes the Q93, which will be the model for next year if this naming scheme makes any sense.

Gmail gets multitasking support on iPad

A

pple introduced multitasking to its iPads a few years back, but Google’s Gmail did not support it until now. Finally, the app will appear on the Dock where all multitasking-supporting apps are listed and can be used alongside Google Photos or Google Calendar.

Multitasking on iPad is extremely useful since it comes with a native drag-and-drop feature for texts or

images.

Google said in a short message that the app should already work both for G Suite customers and end-users with personal accounts, but they must make sure they have the latest version. It also urged customers to “Allow Multiple Apps” in the Home screen menu of Settings, as well as enabling keyboard shortcuts for Gmail.

31

The Oracle Today Monday July 13 - Sunday July 19, 2020

e-Platform

HP introduces new multifunctional printers in Nigeria

Stories by VICTOR NZE

H

P Inc. has introduced new printing devices for home use for its consumers in Nigeria, and around the world. They include the Deskjet 2300, Deskjet 2700, Deskjet Plus 4100, DeskJet Plus Ink Advantage 6000 and DeskJet Plus Ink Advantage 6400. The new multi-functional products are designed specifically for today’s families who keep an active lifestyle whilst effectively combining work, study and entertainment.

The updated models offer additional features, an optimized setup procedure and improved print quality thanks to the original HP ink cartridges with increased capacity[i] - the new high-capacity supplies of the 305 and 653 series.

The HP DeskJet Plus Ink Advantage 6075 and the HP DeskJet Plus Ink Advantage 6475 are designed to meet the needs of each family member and will be able to effectively cope with any tasks. The new MFPs support wireless connectivity and printing from a smartphone using the convenient HP Smart app with mobile fax feature.

The HP DeskJet Plus Ink Advantage 6475 features two-sided printing and is equipped with a 35-sheet automatic document feeder (ADF) to minimize downtime.

Thanks to the ergonomic and stylish design, HP DeskJet Plus Ink Advantage model printers will seamlessly fit into any home interior and will not take up much space. In addition, the devices were developed with HP’s Sustainable Impact strategy in mind - their case consists of more than 20% recycled plastic With its intelligent interface, its simple and intuitive control panel is equipped with a customizable backlight that displays the status of the printer and automatically lights

up if necessary, notifying you of the status of Wi-Fi connections.

The products also come with extensive connectivity options, thus enabling users to choose the most convenient option for connecting the device. In addition to the standard connection via the built-in USB port and mobile printing using the HP Smart application, you can use a dual-band Wi-Fi adapter with selfhealing to check and fix issues - it provides an extended range, as well as a faster and more stable connection. The models also support Bluetooth 5.0 technology, which is convenient to setup and allows you to start printing in seconds. With innovative HP ink cartridges, all prints are brighter and more accurate in colour.

During the unexpected transition to remote work and studying, users rediscovered the advantages of home printing devices. During this period, HP, in collaboration with various educational organizations, launched the free Print and Play online platform, where parents can find hundreds of educational materials for their children’s creativity and learning. Now the platform is supplemented with tasks and games by categories: robots, science and mathematics.

“HP is committed to making the printing process at home as affordable and efficient as possible, we look to offer our customers new models with enhanced functionality for work and entertainment for the whole family,” says Ify Afe, Managing Director, HP Nigeria, adding: “Our new MFPs are equipped with technologies for quick setup and connection from any device, an intuitive control panel that allows you to easily cope with the daily tasks of printing documents and photos, scanning and copying.”

P+ Measurement launches WhatsApp ChatBot

M

edia monitoring and measurement service provider in Nigeria, P+ Measurement, has launched a WhatsApp ChatBot. According to a statement issued by the firm, the chatbot was introduced to promote an effective turn-around time and also create a platform for users to leverage on real-time messaging and have conversations surrounding media monitoring, measurement, and evaluation with our experts who are readily available to answer and give professional advice.

It was disclosed that the unveiled in order to achieve swift delivery and timely response(s) to media monitoring and measurement services inquiries by prospects and the general public.

The new WhatsApp chatbot, according to the statement, has been launched on its official website, https://www.pplusmeasurement. com.ng/.

The Lead Consultant at P+ Measurement Services, Mr Philip Odia-

kose, while speaking on the launch, stated that the WhatsApp chatbot service will meet the increasing demand of inquiries on media monitoring and performance audit from prospects who visit the website out of the need to be proactive and keep a close watch on the media, and public conversations around their brand, competitors, industry, regulators and evaluate their media performance and impact before and during this COVID-19 pandemic.

“We believe in the growth and future of the Nigerian Media monitoring and measurement industry as well as the great impact and value it brings to the Marketing and Communications Industry,” Mr Odiakose said.

WhatsApp chatbot is a software programme that can be used on the popular encrypted WhatsApp messaging application. It enables users to embark on business conversations and helps in solving customers’ issues.

• (From left): Co-Founder/CMO TAJBank, Mr Sherif Idi; MD TAJBank, Mr Norfadelizan Abdulrahman; Founder/COO TAJBank, Mr Hamid Joda and Head TAJMall, Mr Philips Nwachukwu at the launch of TAJMall, Nigeria’s 1st Ethical Online Mall which held at the Bank’s head office recently

FG inaugurates panel for 5-yr broadband plan implementation

M

inistry of Communications and Digital Economy has inaugurated the implementation steering committee of the Nigerian Broadband Plan (NBP) 2020-2025, which is to ensure wider broadband penetration in the country.

Minister, Dr Isa Ibrahim Pantami, who inaugurated the committee in Abuja, noted that the panel is expected to monitor the implementation of the Nigerian National Broadband Plan (2020-2025) which was unveiled and launched by President Muhammadu Buhari on March 19, 2019.

According to him, the new broadband plan is designed to deliver data download speeds across Nigeria of a minimum of 25 megabits per second (mbps) in urban areas, and 10Mbps in rural areas.

He added that it was also in plan to make effective coverage available to at least 90 per cent of the population by 2025 at a price not more than N390 per 1GB of data (2 per cent of median income or one per cent of minimum wage).

He added that in order to achieve these ambitious targets, the plan focused on recommendations in 4 critical pillars, namely Infrastructure, Policy/Spectrum, Demand Drivers and Funding/Incentives.

Pantami said that the plan also targets the deployment of nation-

wide fibre coverage to reach all State Capitals, and a point of presence in at least 90 per cent of Local Government Headquarters as well as tertiary educational institutions, major hospitals in each state and 60 per cent of base stations by 2025 at statutory rates of N145/meter for Right of Way (RoW).

While noting that the implementation of the new NBP had started fully and is resulting in the increase in broadband penetration currently at 40.2 per cent, up from 35.1 per cent in August, 2019, the Minister reiterated that the ICT industry contributed 14.1 per cent to Nigeria’s Gross Domestic Product (GDP) in the first quarter of 2020. He noted that increased broadband penetration will help Nigeria to achieve increased GDP growth.

He stated that other benefits of increased broadband penetration to the economy include job creation, sustainable economic growth, and improved standard of living.

The Minister, however, noted that the terms of reference to be developed by the Committee include Develop Terms of Reference for Project Management Office (PMO), and Develop Terms of Reference for the Delivery Units (DU) amongst others.

He noted that engagement with the Nigeria Governors’ Forum (NGF) has inspired several state govern-

ments to adopt the N145 per meter and a few of these States have even waived the fee altogether adding that the federal government of Nigerian is keen to develop a digital economy that will have a great impact on every sector of Nigeria’s economy.

Remarking at the event, Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta commended the Minister for the inauguration of the committee and promised the support of the Commission towards the realisation of the mandate of the committee.

The Committee which draws membership from the Ministry of Communications and Digital Economy and agencies under its supervision, including the Association of Telecoms Companies of Nigeria (ATCON), Association of Licensed Telecoms Operators of Nigeria (ALTON), World Bank, Global System for Mobile Communications Association (GSMA), among others, has NCC saddled with the responsibility of leading the team to ensure effective monitoring and steering of the overall implementation of the National Broadband Plan (NBP) 2020-2025.

The committee Chairman, Mr Ubale Maska, assured of the team members’ readiness to deliver on the mandate.

Glo drops international calls tariff by 55%

G

lo has announced a 55 percent drop in call tariffs to international destinations.

In a press statement issued in Lagos on Tuesday, the company said the move was initiated to ensure that its customers stay connected to their loved ones overseas at affordable competitive rates especially during the current health crisis.

According to the operator Globacom, the reduced tariffs do not attract subscription fees and are applicable to major destinations such as the United Kingdom, France, Italy, Ireland, South Africa, Spain and Saudi Arabia.

This special offer also extends to calls on the African continent as the new tariffs cover Cameroon, Niger, Benin Republic, Togo and Cote d’Ivoire.

Globacom explained that the percentage of reduction varies among the countries, stressing that by the

virtue of the reduction, the company currently has the most competitive international tariffs in the market.

“For us in Globacom, we consider the dwindling economic reality that everyone is going through, and ensure that our customers should have the opportunity to talk more at lower tariffs,” the statement said.

“United Kingdom which used to cost between N30 and N130 per minute now cost between N24 and N100 per minute depending on the network the call is landing.

“Similarly, calls to Spain and Italy have been reduced to N75 and N60 per minute from N90 and N130 respectively,” Globacom stated.

The company further said: “Calls to South Africa will now attract N85 per minute instead of N150, while calls to Saudi Arabia will cost N55 per minute instead of the former N60 per minute.

“The tariff for France and Ireland

has been reduced to N50 and N40 respectively from N65 and N60, while calls to Cote d’Ivoire, Benin Republic, Cameroon, Togo and Niger will now attract N150 instead of the old N200 per minute tariff.”

“We understand the need for our subscribers to stay in touch with their friends and family overseas now more than ever before. With the ban on international travels imposed by most countries because of the Covid-19 pandemic, people are unable to travel to reunite with loved ones.

“They now rely heavily on efficient and affordable telecom services to communicate with them. We have, therefore, reduced tariffs to these major destinations to make our subscribers still feel at home even when they are thousands of miles apart from their loved ones,” said Globacom in the statement.

32

The Oracle Today Monday July 13 - Sunday July 19, 2020

EQUITY & Capital Market

FMDQ Exchange admits Axxela funding N11.5bn Series 1 Bond

T

•L-R : Managing Director/CEO, Skyway Aviation Handling Company PLC (SAHCO), Mr Basil Agboarumi; Chairman, SAHCO, Dr Taiwo Afolabi (MON); Company Secretary/AGM Legal services, SAHCO, Mrs Omolara Bello.

HE critical role which debt markets play in facilitating sustainable growth and development cannot be overemphasised. The Nigeria debt market capital (DCM) plays an important role in the efficient mobilisation and allocation of resources in the economy and despite the impact of the current times, the market has continued to effectively support corporates looking to expand their business operations.

It is in this regard that FMDQ Holdings PLC in its role as a market organiser of the Nigerian DCM, amongst others, has continued to provide stakeholders in the Nigerian capital market with a credible and robust platform for capital ac-

Investors stake N13.45bn on Nigerian bourse last week Stories by KAYODE OGUNWALE

A

TURNOVER of 901.542 million shares worth N13.453 billion in 18,676 deals were traded last week by investors on the floor of The Nigerian Stock Exchange(NSE), in contrast to a total of 961.833 million shares valued at N9.181 billion that exchanged hands previous week in 20,058 deals.

The Financial Services industry (measured by volume) led the activity chart with 629.368 million shares valued at N5.186 billion traded in 9,887 deals; thus contributing 69.81per cent and 38.55 percent to the total equity

turnover volume and value respectively.

The ICT industry followed with 59.506 million shares worth N5.161 billion in 684 deals. The third place was the Consumer Goods industry, with a turnover of 57.136 million shares worth N1.385 billion in 2,993 deals.

Trading in the top-three equities namely Guaranty Trust Bank Plc, Fidelity Bank Plc and Zenith Bank Plc. (measured by volume) accounted for 293.678 million shares worth N4.042 billion in 4,334 deals, contributing 32.58 percent and 30.05 percent to the total equity turnover volume and value respectively.

A total of 301,094 units of

ETPs valued at N2.384 billion were traded this week in 14 deals, compared with a total of 358,114 units valued at N1.912 billion transacted last week in 25 deals.

Rank Security Deals Volume A total of 11,487 units of Bonds valued at N14.769 million were traded last week in 13 deals compared with a total of 4,590 units valued at N5.515 million transacted previous week in 14 deals.

The NSE All-Share Index and Market Capitalization both depreciated by 0.12 percent to close the week at 24,306.36 and N12.680 trillion respectively.

All other indices finished lower with the exception of NSE CG, NSE Premium, NSE Banking, NSE Pension, NSE-AFR Bank Value, NSE AFR Div Yield and NSE MERI Value Indices which appreciated by 2.37 percent, 0.89 percent, 5.85 percent, 1.13 percent, 5.86 per cent, 4.66 percent and 4.36 percent respectively.

A total of 25 equities appreciated in price during the week, higher than 13 equities in the previous week as 33 equities depreciated in price, lower than 59 in the previous week, while 105 equities remained unchanged, higher than 91 recorded in the previous week.

cess, risk management and transfer of value.

Consequently, FMDQ, through its subsidiary, FMDQ Securities Exchange Limited (FMDQ Exchange or the Exchange), admitted for listing on its platform, the Axxela Funding 1 PLC N11.50 billion Series 1 Bond under its N50 billion Bond Programme (the Axxela Bond).

Axxela Funding 1 PLC is a special purpose vehicle (SPV) incorporated by Axxela Limited to raise funds through the issuance of debt securities in the domestic capital market. Axxela Limited, owned

by Helios Investment Partners, is a natural gas shipping company on the West African Gas Pipeline, providing unique energy solutions with presence in Nigeria and gas export operations in neighbouring West African countries.

The admittance of the Axxela bond is testament to the opportunities which the DCM avails to corporates in diverse business areas and further, to the potential of the market to support stakeholders effectively even as they carry on their activities in the face of the pandemic. The Axxela bond, by its listing on FMDQ, shall be admitted onto the FMDQ Daily Quotations List; thus, promoting the much-needed transparency for investors and providing a credible basis for portfolio valuation daily.

Also, through the global visibility which the FMDQ website and systems guarantee, the corporate profile of the issuer is raised even further ahead of tapping into other opportunities in the Nigerian capital market.

Dangote Sugar gets Savannah Sugar for market expansion

S

HAREHOLDERS of Dangote Sugar Refinery Plc have approved the proposed acquisition of Savannah Sugar Company Limited.

This authorization for the merger between both firms was given at the company’s Extraordinary General Meeting (EGM) held in Lagos.

According to the investors, they are in support of the transaction because it will further enhance production capacity of the company and consequently raise its market dominance.

Dangote Sugar, which boasts of an install capacity to produce 1.44 million metric tonnes per annum, hopes to further conquer the sugar industry by leveraging on the Savannah Sugar’s sugarcane production capacity, and further cements its position as a top tier player in the space.

This was echoed by Chairman of the firm, Mr Aliko Dangote, who said Savannah Sugar has 32,000 hectares of land available for cultivation of sugar cane as well as milling capacity of 50,000 tonnes of sugar per annum and that upon the merger, further investments would be made to increase its land under cultivation.

He explained that the deal was

considered as fair and reasonable by the board, expressing optimism that it would provide strategic opportunities and benefits for the company, employees and other stakeholders.

The Chairman noted that the business marriage between both

organisations would make the new entity operate from the position of increased access to capital and then higher profitability.

Mr Dangote listed some of the benefits of the merger as being to consolidate the assets, intellectual property rights, operations, and

business dealings of the Savannah Sugar into the Dangote Sugar; eliminate cost inefficiencies arising from duplication of resources and processes and improve the efficiency through more focused management of resources and position it as the biggest integrated

sugar producer in Nigeria.

He further said the transaction would make the new company embarked on the next stage of the backward integration plan to revolutionise the sugar sub-sector of the nation’s economy.

made a massive investment in our capacity to serve our clients through the acquisition of modern equipment, provision of new facilities, capacity development for staff and board members,” he said.

Afolabi added that the company had diversified to a new complementary business with a growth potential.

He noted that the company had embarked on an aggressive marketing drive , both local and internationally, to shore up the client base and revenue.

Commenting on the company’s financials, the chairman said the performance was not only encouraging, but also a pointer to a future that is bright.

“Compared to the previous financial year of 2018 when it recorded a huge loss of N696.99 million, SAH-

CO made a net profit of N446.53 million in 2019.

“The twin factors of cost reduction and new business helped to achieve this feat” he said.

He explained that the company’s revenue grew by 24.93 per cent when compared with 2018 figure.

Also speaking, Mr Basil Agboarumi, its Managing Director, said it expanded the export warehouse to accommodate the influx of export to provide ease of cargo handling services due to growing demand for export in Nigeria.

“Over the years, SAHCO has seen the need to innovate and build aviation ground support equipment which birthed the production of the first ever Fuel Bowser that was produced at the maintenance workshop of the SAHCO’s department,” he said.

Agboarumi said the management intend to reposition SAHCO as the best Ground Handling Company in West Africa by acquiring more client airlines using the leverage of being the preferred handling partner of British Airways and other global carriers already in the company’s fold.

A breakdown of the company’s financial performance during the period under review shows that revenue increased by 24.5 per cent to N7.67 billion against N6.14 billion in 2018.

Similarly, an increase of 167 per cent was recorded in its profit in 2019 accounting year.

Consequently, the company moved from a net loss of N696.99 million in 2018 to a net profit of N446.53 million in 2019.

Skyway Aviation shareholders approve 16.5k dividend for 2019

S

HAREHOLDERS of Skyway Aviation Handling Company PLC (SAHCOL) approved a total dividend of N223.34 million for the financial year ended Dec. 31, 2019.

The shareholders unanimously gave the approval at the company’s 10th Annual General Meeting (AGM) by proxy held in Lagos.

Speaking at the meeting, Dr Taiwo Afolabi, the company’s Chairman, assured the shareholders of enhanced return on their investment in the current financial year.

Afolabi said the company had embarked on the development of business models geared toward ushering in efficient and speedy service delivery.

He stated that the business model would change the financials status of the company by the year end.

“In the last one year, we have

33

The Oracle Today Monday July 13 - Sunday July 19, 2020

MONEY Market Ecobank Nigeria Extends agric loan to 70,000 farmers

O

VER 70,000 farmers in the country have been promised special loans to increase their capacity and yields during this planting season.

This pledge was made by Ecobank Nigeria, which restated its commitment to the agricultural sector to promote entrepreneurship in the sector.

The lender said this is in support of the Anchor Borrowers Programmes of the Central Bank of Nigeria (CBN) for the 2020 wet season with the Maize Growers, Processors and Marketers Association of Nigeria (MAGPAMAN).

Ecobank has been actively leveraging entrepreneurship as a strategy to tackle poverty and growing unemployment, through the creation of relevant platforms.

One of such platforms is the Ecobank Xpress Point, the bank’s agency banking proposition which enables agents carry out financial transactions on behalf of Ecobank and earn commission on transactions processed.

Thousands of Nigerians have taken advantage of this opportunity to become Xpress Point agents and have in turn, employed several others, thereby improving financial inclusion and creating employment opportunities. Xpress Points are in various neighbourhoods across the country and are well positioned to facilitate financial transactions in the communities which they serve.

Speaking on the support for the agric sector, the Head of Agribusiness at Ecobank Nigeria, Ms Mojisola Oguntoyinbo, noted that the initiative spreads across the 36 states of the federation.

She stressed that it was one of the several concerted efforts on the part of the bank to support the government to create an ecosystem that gives small holder farmers access to funding and the required support to increase food production in the country.

According to her, the scheme was designed to connect small holder farmers with processors and off takers within the agriculture value chain.

“We are creating opportunities in the Agric sector that will help many small holder farmers expand their business and become worthy employers of labour by adopting modern farming techniques for the betterment of our economy.

“We are in strategic partnership with NIRSAL and some other developmental institutions to achieve our purpose.

“We are also partnering the CBN in all its intervention schemes and programmes aimed at developing the sector.

Our relationships are generating positive activities across the entire Agric value chain,” she said.

Bank customers issue N1.37tr cheques in 5 months Stories by KAYODE OGUNWALE

A

VAILABLE report from the Nigeria Interbank Settlement System (NIBSS) showed that cheques worth N1.37 trillion was issued because January and May, 2020.

Cheques worth Issued cheques in January stood at N367.7 billion; February figure stood at 358.484 billion; March figure stood at N361.7 billion followed

by N103 billion in April when the economy was under economic lockdown and N178 billion in May

2020, when lockdown was lifted and economic activities gradually returned.

The reason why cheque issuance has also continued to dip was that industry statistics show that big ticket payments are fast moving to electronic channels where customers want fast and seamless transactions.

The drop in volume and value of cheques issuance followed CBN’s policy which stopped banks from allowing more than N10 million to be drawn on a cheque, which was aim to strengthen the e-pay-

ment system in the country.

CBN had said: “As a further step in its efforts at enhancing the efficiency of the payment system in the country, the CBN hereby sets a maximum limit on cheque payment at N10 million with effect”.

Analysis of NIBSS transaction flows showed that larger part of banking transactions are now consummated on the Central Bank Inter-Bank Funds Transfer System (CIFTS) and Real Time Gross Settlement (RTGS) platform.

•From Left: Division Business Manager, Mouka Limited, Ladi Alabi; with Commissioner for Finance, Oyo State, Akinola Ojo; Chief Commercial Officer, Mouka Limited, Dimeji Osingunwa and Commissioner for health, Oyo State, Dr. Bashiru Bello; during the donation of 100 Klinic

The RTGS, an automated online payment system allows funds transfer from one bank account to accounts in another bank on the same day under the Nigeria Interbank Settlement System (NIBSS) platform.

The NIBSS Electronic Fund Transfer (NEFT) allows funds to be received after 24 hours and is either initiated from electronics means from customer’ convenience or at the initiating banks’ branch.

Additionally, data from NIBSS on cleared cheques showed that banks cleared 628,628 cheques worth N367.77 billion in January 2020.

According to the payment service company, the transactions were less than 652,412 transactions worth N391.65 billion achieved in the preceding month. Also, 597,485 cheques worth N344.19 billion were cleared in November and 686,133 cheques worth N371.23 billion were cleared in October 2019, NIBSS data further showed.

Continuing, the CBN said: “To this end, any payment value exceeding N10 million are made through the e-payment mode such as the Central Bank InterBank Funds Transfer System (CIFTS) or Real Time Gross Settlement (RTGS), an automated online payment system which allows the transfer of funds from one bank account to accounts in another bank on the same day.

BVN-linked bank accounts hits 42.4 million

A

CTIVE bank accounts linked to Bank Verification Number (BVN) has reached 42.4 million as at July 5, 2020 information obtained from the Nigeria Interbank Settlement System (NIBSS) website has shown.

Although the BVN data is less than the Central Bank of Nigeria’s (CBN’s) target of 100 enrollment in the next five years, but was an improvement from about 38 million captured in May 2019.

The CBN, Banker’ Committee in collaboration with all banks in Nigeria had on February 14, 2014, launched a centralized biometric identification system for the banking industry tagged BVN. The purpose of the project was to use biometric information as a means of first identifying and verifying all individuals that have account(s) in any Nigerian bank and consequently, as a means of authenticating customer’s identity at point of transactions.

The CBN Governor, Godwin Emefiele had said increase in BVN enrollment would address the constraint that poor identification has on the availability of credit to prospective banking customers, particularly, those in the informal sector. The need to get more people into the financial system, has prompted the CBN and Bankers’ Committee to unveil new BVN plan that required classification of BVN into two – BVN Premium and BVN Lite.

Emefiele, said BVN premium will cover customers that can provide the 18 basic requirements for a complete BVN enrollment, while

the BVN lite will require minimal documentation like name phone number for bank customers, especially those in the rural that do not meet the full requirements.

This, he said, would enable such grassroots’ customers, mainly the poor, conduct minimal financial services and reduce financial exclusion rate.

The BVN scheme, which gives each bank customer unique identification, is to revolutionise the banking and payment systems while ensuring safety of depositors’ funds.

The new BVN rule demand that the Know Your Customer (KYC) scheme would be migrated into the BVN Lite. “However, there are people who are currently financially excluded, like people in our rural communities that carry phones, but not having financial services.

With the collaboration of National Communication Commission, we are putting this BVN arrangement to allow them conduct minimal financial services.”

Many commercial banks have adopted new strategies to reduce the large crowds at their branches, which are still opened in phases.

The banks are each week sending emails and text messages to their customers informing them about the branches that will be in operation, everyday of the week after the lockdown was relaxed.

In many of the banks’ branches, canopies and chairs are set up outside the bank’s premises for customers to sit while waiting to be attended to. In many of the commercial banks, from GTBank, First-

Bank, Access Bank, Union Bank, Keystone Bank, among others, there were large customer presence in the branches, which the banks said they were addressing.

In emailed notice to its customers, GTBank said it will for now, be alternating the opening of its branches every week. It said customers will be advised on a weekly basis of the branches open to serve them.

“As we look forward to the month of June, we will continue to take the necessary precautions to keep our banking environments safe whilst providing you with the best banking experience”. Continuing, it said: “When visiting any of our branches, kindly protect yourself by wearing a facemask at all times. It is also very important that you keep a safe distance when in a queue inside or outside the branch” The bank have also continually asked their customers to use epayment channels and avoid physical presence at the branches. Aside those opening new accounts, there are others making cash withdrawals and deposits.

Also, in emailed note to customers, Access Bank Plc, said 2020 has redefined how people live and do business amidst the COVID-19 pandemic; utmost safety is the new normal. “Fortunately, with the improvements on our mobile, internet banking, USSD (*901#) and PrimusPlus, most of your everyday financial transactions can safely be completed from the comfort of your home using your computer or phone,” it said.

The bank said it has put all necessary measures and hygiene procedures in place to ensure your safety and that of our staff while transacting at our branches. “As the government relaxes the restriction on movement, please remember to stay masked-up, wash your hands often and continue to adhere to health and safety guidelines as mandated by health authorities. We reiterate our commitment to providing you with the highest level of service excellence always,” it said.

An insider source within the bank, said most of the customers that trouped to the branches did not have ATM cards and needed to get one having realized how badly they needed it in the COVID-19 era,” the bank said.

The Enhancing Financial Innovation & Access (EFInA) survey showed that 63.6 per cent of Nigeria’s adult population now has access to financial services and only 36.6 per cent are financially excluded.

According to the survey, many Nigerians, for numerous reasons are unbanked and lack access to formal financial services. Evidence worldwide shows that access to financial services contributes both to economic growth and wealth creation and is therefore key to tackling the ‘poverty’ trap in Nigeria. It is critical for regulators and policy makers to create an enabling policy environment to actively promote both the demand for and the supply of financial services to the unbanked and under-banked.

34

The Oracle Today Monday July 13 - Sunday July 19, 2020

NEWS

Indigenous Oilserv leads AKK Pipeline project Sopuruchi Onwuka

I

ndigenous engineering, procurement and construction (EPC) firm, Oilserv Limited, is leading the delivery of the $2.6 billion Ajaokuta-Kaduna-Kano pipeline project, projecting the prowess of oil industry contractors groomed by the federal government under the Nigerian Content policy.

The Oracle Today which was at the groundbreaking ceremony for the massive infrastructure development at the Ajaokuta project camp reports that other Nigerian firms including Oando and Brentex form part of the consortiums that would work with Chinese funding partner on the project conceived to deepen the domestic gas market and stimulate industrial revolution in the northern parts of the country.

President Muhammadu Buhari activated the project as part of the long awaited foundation for the country’s economic recovery. The pipeline is to provide the required fuel energy to fire power generation and fuel industries along the pipeline corridors.

The flag off of the project addresses anxiety among Nigerians over government’s nonresponsive posture towards unending calls for congenial business environment. It also marked a significant leap in the implementation of the nation’s lingering gas infrastructure blueprint designed to enable the industrial sector of the economy optimize its potentials.

In flagging off the project virtually from the State House, Abuja, President Muhammadu Buhari directed the Minister of State Petroleum Resources and Group Managing Director (GMD) of NNPC to authorise the Engineering, Procurement and Construction (EPC) consortiums involving indigenous pipeline giant, Oilserv Limited, to commence construction operations at the project camp sites without further delay.

“We promised the Nation that we will expand the key critical gas infrastructure in the Country to promote the use of gas in the domestic market. These include the Escravos to Lagos Pipeline System – 2 (ELPS-2), Obiafu to Obrikom (OB3) pipeline and the AKK. I therefore directed NNPC

From JONATHAN AWANYAI, Asaba

T

• Oilserv Limited lines up pipes along the right of way as it kicks off the first segment of the AKK pipeline project.

to ensure that these critical projects are completed on time, within budget and specification,” the president stated.

President Buhari summarised the key economic objectives of the project: “When completed, the AKK Gas Pipeline Project will provide gas for generation of power and for gas-based industries which would facilitate the development of new industries and also the revival of moribund industries along transit towns in Kogi State, Abuja (FCT), Niger State, Kaduna State and Kano State.

“This will ultimately create numerous direct and indirect employment opportunities while fostering the development and utilization of local skills and manpower, technology transfer and promotion of local manufacturing. The project is therefore part of the delivery of our Next Level Agenda for sustainable development and enhancement of the economic prosperity of our country.”

The AKK pipeline which was conceived as part of the Nigerian Gas Masterplan (NGMP) by former administrations of the federal government had remained in the policy shelf for nearly a decade. Its implementation by the present administration is a significant progress from the delivery of the Obiafu-Obrikom-Oben

(OB3) gas grid development.

The AKK project is designed to enlarge the domestic gas market by using the energy demand from the northern parts of the country to enhance the commerciality of domestic market play and confer viability on investments in government’s gas commercialization agenda.

According to the Nigerian National Petroleum Corporation (NNPC), the gas commercialization programme is meant to leverage on the nation’s huge natural gas reserve base to stimulate growth and enable Nigeria’s migration from the current mono-economy into a diversified economy.

The AKK project would enable the injection of 2.2 billion standard cubic feet of gas per day (bscf/d) into the domestic market upon completion, and facilitate additional power generation capacity of 3,600 megawatts (MW), the corporation said.

The 614 kilometer pipeline is expected to spark off economic activities that would ultimately deliver on a bundle of broad national economic aspirations in the petroleum industry through which the government targets to position the country’s abundant natural reserves as the key enabler for economic diversification from oil dependence.

Processes in realizing the policy

targets include clearly mapped out strategies to deepen the domestic gas market, arrest gas flaring at oil production sites, enhance national revenue through natural gas commercialization, boost the Nigerian Content of the huge budget petroleum industry, and build sustainable energy infrastructure for the domestic economy.

According to the project profile from the Nigerian National Petroleum Corporation (NNPC), the $2.592 billion AKK pipeline project will provide channel for the upstream and midstream petroleum industry operators to deliver their natural gas output into the grid and spur industrial evolution along the new pipeline corridors in northern Nigeria.

Energy is considered most critical among all factors of production, and acute shortage of energy has been the major bane of industrial and commercial enterprises in the country. Thus the AKK pipeline is therefore considered a key factor in sustainably resolving issues of industrial energy for the present and future generation of Nigerians.

Before now, members of the Organized Private Sector (OPS) of the Nigerian economy, especially the Manufacturers Association of Nigeria (MAN), had consistently called on government to provide Cont’d on page 35

Ayo Salami Committee disembowels Magu Cont’d from Pg 5 ernment assets recovered by the EFCC from May 2015 to May 2020 reported that interest on the N550 billion recovered by the agency under Magu was not visible in the books.

The panel also pointed at a deposit shortfall of N39 billion between EFCC’s deposits in the bank and what the agency recorded as recovered.

“For foreign currency recoveries, EFCC reported a total naira equivalent of N46,038,882,509.87, while the naira equivalent of the foreign currency lodgment were N37,533,764,195.66, representing a shortfall of N8,505,118,314.21. These inconsistencies cast a serious doubt

Asaba storm water drainage to be ready in three months

on the accuracy of figures submitted by the EFCC. It is the committee’s view that the EFCC cannot be said to have fully accounted for cash recoveries made by it,” the committee reported.

In pointing at the agency’s poor accounting capacity, the committee stated that “while EFCC reported total Naira recoveries of N504,154,184,744.04, the actual bank lodgments were N543,511,792,863.47.

These discrepancies mean that EFCC’s actual lodgment exceeded its reported recoveries by N39,357,608,119.43.

It explained that the discrepancy of over N39 billion does not include accrued interest, adding that the overpayment casts se-

rious doubt on the credibility of the figures and accuracy of accounting.

“Failure to report on the interest on actual lodgments clearly establishes that interest element of over N550 billion has been re-looted relating to the period under review.

“This is an apparent case of manipulation of data in a very brazen and unprofessional manner and this has greatly eroded the public confidence in the anti-corruption efforts.”

The panel is also said to have revealed how the Nigeria Financial Intelligence Unit (NFIU) investigation “exposed acts of corruption and money laundering” against some EFCC officials, including Magu.

According to the report, NFIU accused Mr Magu of using different sources including a Kaduna Bureau de Change with 158 bank accounts to siphon money from the EFCC, and in some cases collecting bribes from suspects.

An NFIU report also alleged that a pastor at Hand of God Prophetic Ministry had bought a N573 million landed property in Dubai, United Arab Emirates, for Mr Magu.

“He is reported to have travelled to Dubai with Mr Magu and his name was used in purchasing property in Dubai for Mr Magu. As an unknown pastor, the NFIU’s report showed huge movement of funds ranging from N573,228,040.41,” the report stated.

he Delta State Government has promised that the Okpanam storm water drainage project in Asaba channeling flood to “Iyi-Uku River” in Okotomi Quarters would be ready for inauguration in the next three months.

During an inspection of the project, the Commissioner for Works, Chief James Augoye said that the 4.6km drain was a proactive measure taken by the state government to address the flooding from Okpanam to Shoprite area in Asaba, adding that so far, 2.9km had been completed by the contracting firm.

He disclosed that the depth of the drains were 3.5 metres by 1.2 metres, 1.5 metres by 1.5 metres and 0.9 meters by 0.9 meters depending on the topography of the affected area.

The commissioner said that the state government was already tarring five roads around Okpanam Road in a bid to control flood which was already a big problem on the road, adjoining streets and Okpanam community.

“We are also constructing some adjoining streets, about 12 of them. The essence is to reduce the volume of silts (sands) that move from this area to block the drains along the Okpanam Road. These are the areas through which the flood water moves from Okpanam down to Asaba. So, we have to take care of that,” he said.

While saying that many other roads were being constructed and tarred in Warri and Uvwie, Augoye charged the contractors to redouble efforts to meet deadlines for the various projects in the state.

On the Okpanam/Okotomi storm water drain project, Abuoye said that 60 per cent of the marked buildings for demolition have been paid for and that those that built without proper acquisition would not be paid.

He assured that the various projects were being supervised by his ministry to ensure that Deltans get value for money spent on road infrastructure.

The Project Manager of Levant Construction Company, the firm handling the storm water drain, Ghassan Fadel said that the drainage project was on course, pointing out that it would be completed in the next three months.

The Commissioner for Information, Mr. Charles Aniagwu, who was present during the inspection said that the COVID-19 pandemic cannot deter the Okowa administration from embarking on projects that would make life better for the people.

Aniagwu said that Okowa was desirous of building a stronger Delta through infrastructure transformation and human capital development.

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The Oracle Today Monday July 13 - Sunday July 19, 2020

NEWS

Indigenous Oilserv leads AKK Pipeline project Cont’d from page 34 critical factors of production to make investment in the Nigerian business environment attractive, and economically rewarding.

Leaders in the country’s OPS agree that the best response government has given to the agitation from the business community is to provide hope for production infrastructure that would make the domestic environment more attractive to investment.

So, AKK pipeline when realized will be a sustainable factor of production that would enhance the local operating environment for business in the country.

The facility will also remain central to all aspects of Nigeria’s industrial development: boosting power generation, stimulating manufacturing activities and de-constraining new field development in the oil industry.

In the upstream sector of the petroleum industry, the AKK pipeline will enable more oil production by helping operators to meet the condition of zero flare development plans. So, operators who have been held down by market limited destination for associated gas are now provided space in the AKK pipeline.

Again, expanding the domestic gas market with the AKK pipeline will boost investor confidence in the government’s flare gas commercialization programme by providing ready offtake channel for harnessed gas. This strongly propels Nigeria’s drive to attain zero emission at oil production sites and probably enable the country exit the inglorious global greenhouse emission chart.

Again, the AKK pipeline promises double barrel economic advantage for the country by earning direct income for government and also helping develop indigenous industrial capacity by providing cheaper, cleaner and more sustainable energy. It will become a consistent revenue earner for all stakeholders including the government by operating a tariff based gas transmission services to assist producers wheel gas to market. It will also entitle government to tax income, equity dividend and direct market returns on volume gas sales.

Also, the AKK pipeline flaunts all the attributes of industrial stimulus.

Manufacturing capacity in Nigeria today is highly constrained by energy issues. Running manufacturing by liquid fuel is far too expensive and unprofitable; power supply for industrial activity is grossly inadequate. So the AKK pipeline holds potentials to feed power plants with adequate fuel energy to generate adequate electricity for homes

and businesses. The pipeline can also directly feed industry and commerce with cleaner, cheaper gas energy. In both ways the AKK pipeline is going to enable the industrial sector of the economy optimize its potentials for growth, job creation and contribution to gross domestic product (GDP).

Perhaps the biggest value is that the AKK pipeline holds the biggest valid testament to government’s commitment to the Nigerian Content Policy. Save the funding arrangement which necessarily entails Chinese content in the project, the full project scope would have been delivered by the indigenous Oilserv consortium which also delivered the even more challenging Obiafu-ObrikoOben (OB3) pipeline on which the AKK pipeline is anchored.

More importantly, the involvement of Oilserv makes the project more realistic. The reliance on local expertise also makes the infrastructure more sustainable and cheaper in terms of long term maintenance plan. With the Oilserv consortium government would not suffer maintenance hitches similar to the impasse that plague the local refineries following the refusal of original builders to honour maintenance commitments.

It is therefore taken for granted that the Oilserv consortium would regularly be on ground to guarantee the integrity of the pipeline.

Chairman of the Oilserv Group, Engr Emeka Okwuosa, says that the consortium led by his company is working in concert to provide best in class EPC services for NNPC and Nigeria in consonance with the company’s track record of delivering world class pipeline construction even in most challenging terrains.

“Oilserv is a100 percent indigenous company currently employing more than 600 staff. With this new AKK development, it probably will go to between 1,500 and 2000 at the peak of the personnel matrix. “But the fact remains that we are ready. This is not the first project. We are commissioning the OB3 gas project which is slightly larger than this in terms of diameter. The OB3 is 48 inches in diameter. So we have the experience, we have the personnel, we have the equipment and we are capable and we would deliver this project.

On the projects potential for job creation, Engr Okwuosa declared that the company would significantly increase its workforce during the project’s time frame, adding that additional staff would be recruited from communities that host the project.

•Heavy duty haulage trucks mobilized by Oilserv Limited at the Ajaokuta project camp site for the NNPC’s AKK pipeline project.

“Like I said, we will crank up our employment by more than 1000 and major part of this 1000 will be indigenes of the areas where we are. We have a clear programme to develop the areas where we build pipelines.”

In advancing Oilserv’s performance profile in petroleum industry pipeline delivery, Engr Okwuosa declared that the consortium is conversant with driving through tough and challenging terrains.

“Every project comes with its challenges. There are challenges in driving a project like this in virgin forests, to go through rivers, rocks, to deal with security issues.

These are challenges but I don’t have fears because we have the knowledge and the experience to deal with it all. We are very ready to deliver the project and deliver the project on time.”

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, vouched for the contractors selected for the project. “We are confident that the EPC contractors will deliver the project on time, within budget and to quality specifications,” he declared.

Mallam Kyari stated that “The current Administration under the leadership of His Excellency, President Muhammadu Buhari has made it a priority to ensure revenues from oil and gas resources are utilized to support the emergence and growth of other non-oil sectors of the economy,” inferring that the pipeline is one of the economic diversification efforts of the government.

As Governor Yahaya Bello of Kogi State couched it, use of indigenous Oilserv consortium in delivering the Ajaokuta-Kaduna-Kano pipeline project is one of the most significant economic stimuli that will catalyze growth activities in Nigeria in the prevailing coronavirus era.

The indigenous consortium of companies led by Oilserv Limited is to deliver the first phase of the 40 inch diameter pipeline which would run from Ajaokuta in Kogi State to KP303 between Abuja and Kaduna. The consortium is also to deliver a Terminal Gas Station (TGS) which is a 24 inch 15 kilometer spur line to a planned power station in Abuja.

Governor Bello’s applause for Nigerian Content of the project laid ground for him to take early lead in projecting graduates of his government’s technical training programme for absorption in the construction stages of the project, appealing that the involvement of the local youths would go a long way in building community stakeholding in the project.

The governor’s keen observations also amplified President Buhari’s call on the governors of the states that host the pipeline rights of way provide the contractors the enabling social and security environment to deliver the projects within the specified time frame.

“I am counting on the Executive Governors of Kogi, Niger, Kaduna and Kano States as well as the Minister of the Federal Capital Territory to provide the enabling environment and support for the project,” the president appealed in his speech at the flag off event.

In reiterating the need for well meaning Nigerians to support the pipeline project, President Buhari emphasized the need for the country to lay solid infrastructure for diversification of the economy in the face of emerging dangers of continuing to rely on crude oil export income.

“The lessons learnt from the Novel Corona Virus (COVID-19) Pandemic further underscore the drive of this Administration for export substitution initiatives and projects that will promote local

manufacturing. Consequently, harnessing and commercializing our vast gas reserves is an enabler for rapid economic development and diversification of the economy.

This remains a cardinal objective of our Administration’s drive towards ensuring a stable, sustainable and more prosperous future for our citizenry,” the president stressed.

As currently planned, the AKK pipeline project is envisaged to be completed by 2023 when the tenure of President Buhari would elapse; a consideration that might have informed the short delivery time lines and segmentation of the contracts among consortiums that have simultaneously started work at Ajaokuta and Kaduna respectively.

It is therefore strongly inferred that President Buhari is conscious of the need to deliver the AKK pipeline before leaving office; a strategy that would avert leaving behind another white elephant project that might build into the unenviable projects list that already contains well conceived but stalled megaprojects like the Ajaokuta Steel Rolling Mills, Kogi State; the Aluminium Smelter Company Limited (ALSCON), and Nigerian Newsprint Manufacturing Company, Akwa Ibom State, just mentioning a few.

Although the pipeline runs into the northern parts of the country, its full economic chain connects the south by providing market and viability for gas production, processing and monetization investments in the Niger Delta.

With its economic benefits connecting all sections of the country and integrating its full business cycle it is therefore critical for all stakeholders, including professional groups, business groups, political administrators and community stakeholders to support the AKK pipeline and enable it deliver full objectives and benefits for all.

Nigerian students excel in Chevron’s engineering challenge

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group of Nigerian students who participated in a virtual “Engineering Design Challenge” to evolve technical solutions for communities in the pandemic season excited panelists who would now recommend them for investment support.

The event which was part of the company’s efforts to promote quality science education in Nigeria and other parts of Africa, formed the inaugural edition of the Summer Engineering Academy (SEA) virtual

conference, organized by the Africa Leadership Academy (ALA).

According to the company spokesman, Mr Esimaje Brikinn, the initiative is designed for highly motivated and talented high school students from Nigeria and Angola, who are interested in careers in Science, Technology, Engineering and Mathematics (STEM).

A total of 18 students (15 Nigerians and 3 Angolans) from various high schools participated at the event and generated proposals for which

they tried to gain investment support by tackling the “Engineering Design Challenge” question: What technology would help my community navigate an epidemic?

Chevron has partnered with ALA since 2016 to support the AfriSTEM programme which is designed to establish an AfriSTEM center of excellence through the recruitment and funding of STEM scholars into ALA’s Diploma programme. A group of Nigerian students at the virtual event won the best presentation award.

Highlighting the objectives of the event, Mr. Monday Ovuede, Director, CNL/NNPC Joint Venture, who was one of the judges at the conference’s final presentation, conveyed Chevron’s continued commitment to the development of STEM education in Nigeria and other parts of Africa.

“I think the Nigerian students’ performance at the event shows that Nigeria has young talents with the drive and ability for critical thinking.

What we need is to continue to sup-

port and replicate events like this by providing the necessary artisan and technical support to enable our talented youths to bring their ideas into reality,” he stated.

Mr. Ovuede, who described Chevron’s involvement in the programmes as apt and valuable, advocated the establishment of technical competition among Nigerian and African universities in different fields related to STEM to further boost development of the country and the continent.

36

The Oracle Today Monday July 13 - Sunday July 19, 2020

True Confession

I regret marrying a guy based overseas

M

y story can break the hardest hearts, and my tears can melt any rock. What have I done to deserve this? What have I done to deserve the way life and love have been treating me?

My name is Ifeoma. I’m 32 years old and my guy is 43 and is based abroad.

He came from Germany and paid my bride price six years ago.

But since he returned to Europe, he has virtually abandoned me. The last time he came to Nigeria, he spent only two weeks. Besides, I don’t like his character.

Our marriage is what I’ll call ‘telephone marriage’ because we talk more on phone than we see each other. God knows I’ve done all I can to make him happy. But he likes keeping things to himself when annoyed.

He won’t call and he won’t tell me what I’ve done to offend him. Rather, he would keep malice. He does not call me all the time and even when he calls, he talks so rudely that I end up being angry with him over the phone.

The most annoying thing is that

If not for the child I have for him, I would have quit the joyless marriage a long time ago. The problem is that I already have a child for him. That’s why I’m still managing. I’m tired of my ‘telephone marriage’ he is married to a white woman in Germany. And sometimes when I call him, the woman asks me who I am.

In order to avoid problems with his white wife, Chidi told her that I’m his sister from Nigeria and he forces me to tell such a lie whenever I call.

Even our daughter that is with me, he doesn’t send me money regularly for her upkeep. My Germany-based husband sends money to me only once or twice in a whole year.

And even the money he send to me for the whole year for the upkeep of I and our daughter is not up to N50,000. When I complain, he will tell me to go and find work to do to

survive.

But when I see my mates and my friends who are living with their husbands here in Nigeria, I cry.

I cry because I see how happily they are living together and taking care of their children. I regret getting pregnant for Chidi and marrying him just because he came from overseas.

For the past five years, he hasn’t visited Nigeria and I am all alone with my child struggling to survive.

If not for the child I have for him, I would have quit the joyless marriage a long time ago. The problem is that I already have a child for him. That’s why I’m still managing. I’m tired of

my ‘telephone marriage’.

I need the physical presence of a husband in my life. I advise all single ladies to beware of these overseas-based Nigerians who come down to marry. Most of them will just put you in the family way, pay your bride price and disappear.

Then you and your kids will start suffering. Guys based abroad don’t make the best of husbands. Marriage with them is “telephone marriage”, because you’ll relate more with them on phone since their physical presence is never there.

Your say: Call 07031028714.

37

The Oracle Today Monday July 13 - Sunday 19, 2020

CRIME

Police parade 7 for multiple bank robberies Stories by VICTOR NZE

P

OLICE operatives attached to the Special Tactical Squad have arrested a 7-man criminal gang that allegedly attacked and robbed three comm ercial banks in the SouthWest states of Ondo and Ekiti between 2019 and 2020.

According to the police, the gang was responsible for the killing of innocent citizens including the shooting to death of six policemen and carted away several millions of naira.

Investigation reveals that the dare-devil armed robbers, namely; – Tunbosun Ojo ‘m’

Okadaman rapes 16 yr- old girl with gunp

A

31-YEAR-OLD motorcyclist has been arrested by the Police in Akwa Ibom State after he allegedly raped a 16-year-old girl at gunpoint.

The motorcyclist, Eddidiong Tommy diverted the 16-year-old passenger to his residence at No. 75 Hospital Road, Abak, where he connived with another suspect to rape the victim.

After raping her, the suspect dispossessed the victim of her Lily phone valued at N17,000 and the sum of N50,000.

Similarly, a 30-year-old man identified as Sam Akpan was arrested for raping a 10-year- old girl in the state.

According to the State Police Public Relations Officer, Nnudam Fredrick, the suspect bought ponmo from the minor and told her to come to his house for payment.

“Investigation revealed that the suspect bought ponmo worth N200 from the 10-year-old girl and lured her to his house on the pretext that he left the money at home.

“On reaching the house, he dragged the girl into his room and forcefully had carnal knowledge of her,” he said.

42years, Ismaila Ojo ‘m’ 25years, Victor Oyeyemi ‘m’ 36years, Dele Ariyo ‘m’ 44years, Shola Oladimeji ‘m’ 50years, Olubodun Folayemi ‘m’ 44years and Adeniyi John ‘m’ 42 years – carried out the robbery of a commercial bank in Ile-oluji, Ondo State on 7th February, 2020 where four policemen were killed.

A statement by Police Public Relations Officer, Force Headquarters, Abuja, Mr Frank Mba, Thursday, said the gang was also involved in the robbery of a Microfinance Bank in Idanre, Ondo State in December, 2019, as well as a commercial bank at Oye Ekiti, Ekiti State where two policemen lost their lives.

“Efforts are being intensified to arrest other members of the gang still at large and to recover other sophisticated weapons used in the operations,” Mba said.

Meanwhile, 23 other suspects were also arrested by police operatives for their involvement in various crimes including armed robbery, kidnapping, illegal possession of prohibited firearms, car snatching at gun point, among other offences.

The following were recovered from the suspects: One AK-49 rifle, One AK-47 rifle, two pump action guns, five locally-made guns, nineteen locally-made shot guns, 125 cartridges, 145 AK-47 ammunition, locally-fabricated explosives and a Toyota Corolla vehicle with Reg. No. LSR 490 GC. “The suspects will be charged to court on conclusion of investigations,” Mba further added.

•Police parading the 7-man criminal gang that allegedly attacked and robbed three comm ercial banks in the South-West states of Ondo and Ekiti between 2019 and 2020, Monday.

IG Adamu orders redeployment, posting of zonal commanders, others

I

NSPECTOR General of Police (IGP), Mr Mohammed Adamu, Friday, announced new postings and redeployments in the force, as well as new Heads for the Department of Research & Planning, the Directorate of Intelligence, the five newly created Zonal Commands and the four annexes of the FCID. The announcement follows the recent presidential approval for the re-organization

IGP flags off free health scheme for police officers

I

NSPECTOR-GENERAL of Police (IGP), Mohammed Adamu, has flagged off a new health scheme for police officers, aged 40 and above at the Force Headquarters, in Abuja.

The first of its kind, Benign Pros-

tatic Hypertrophy/ Prostate Cancer Screening provides coverage for free prostate cancer screening as part of the welfare packages for men of the Force.

The 14 days cancer screening and cum treatment program is in partnership with the Stanley Medical

Police parade 25 suspects for kidnapping, armed robbery, others

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OLICE Command in the Federal Capital Territory (FCT) has arrested 25 other criminal suspects for their involvements in varying cases of kidnapping, armed robbery and illegal possession of prohibited firearms currently under investigations.

The suspects, according to Force Public Relations Officer, Abuja, Mr Frank Mba, are said members of high-profile criminal gangs terrorizing communities and major highways of the North-Central and North-West states of the country.

Exhibits recovered by the police team from the suspects include: 6 AK47 rifles, three locally-fabricated pump action guns, one locallyfabricated pistol, 2 dane guns, 55 rounds of AK-47 ammunition, 4 empty magazines, one laptop computer and One Toyota Corolla Car

of the Nigeria Police Force which included the creation of an additional Department – the Directorate of Intelligence, expansion of the Police zonal structure from 12 to 17 and the creation of two additional FCID annexes.

A state issued by the Force Public Relations Officer, Abuja, Mr Frank Mba, said the IGP has now ordered the posting/redeployment of Assistant Inspector

with Reg No. MKD 13 RC. “All the suspects will be charged to court at the conclusion of investigations.

“The Inspector-General of Police, IGP M.A Adamu, has assured that the battle against criminal elements in the country is a continuous one. He calls for all hands to be on deck towards decisive victory and reclaiming of the public space from the criminal elements,” Mba said.

Meanwhile, police operatives of the Intelligence Response Team have arrested two suspects for the kidnap of a medical doctor, Audu Benedict, his son and one of his associates in Katsina-ala local government area of Benue State while travelling from Taraba State to Abuja on 10th March, 2019.

The suspects; Henry Terkula Gwa

‘m’ 25yrs from Donga council of Benue State and Terhile Tsavbe, ‘m’ 30yrs from Gawa village, Katsina-ala council of Benue State were arrested on the 6th and 11th June, 2020 following intense search for the victims and manhunt for the perpetrators by the Police team.

Investigations revealed that the criminal gang collected N7.5million naira as ransom from the families of the victims as condition for their release.

The suspects forced the late Dr Audu Benedict to issue them a cheque of N500,000 which they cashed at a commercial bank in Gboko town, Benue State.

Subsequently, the suspects killed the three victims and had them buried in a shallow grave at Gawa in Katsina-ala council of Benue State.

Foundation and sponsored by the Executive Governor of Imo State, Senator Hope Uzodinma.

Survey over time has shown that a good number of Police Officers within that age bracket suffer from this cancer type.

“Survey showed that the highest-ranking non-communicable diseases that Police Officers suffer from includes hypertension, diabetes. However, prostate cancer became prevalent among Senior Officer, especially after they have retired,” the Medical Officer, DCP Ogunsanwo said.

He added that the screening exercise is coming at the right time because early detection increases the chances of successful treatment.

Commenting on the official launch of the screening program, IGP Adamu said: “The nature of our work requires that we get medical attention constantly to know some of the diseases that can hinder us from performing our constitutional duties. When we constantly check ourselves, we can then take preventive measures so that the investments on us will not be in vain.

He further stated that: “It is a privilege to be in partnership with Stanley Medical Foundation in order to work with the Police and capacitate Police Officers in the area of medical awareness.

General (AIG) Adeleye Olusola Oyebade, and AIG Ibrahim A. Lamorde, to the Department of Research and Planning and Directorate of Intelligence, FHQ, Abuja respectively.

According to Adamu, the postings are with immediate effect.

“Prior to this posting, AIG Adeleye Olusola Oyebade was a Directing Staff at the National Institute for Policy and Strategic Studies, Kuru, Jos while AIG Lamorde, a former Chairman of the EFCC was the AIG in-charge of Force Intelligence.

“The IGP has equally ordered the positing of the following Senior Police Officers to the five (5) new Police Zonal Commands as follows: AIG Zone 13 UkpoDunukofia (Awka) – AIG DanMallam Mohammed, AIG Zone 14 Katsina – AIG Rabiu Yusuf.

“Others are: AIG Zone 15 Maiduguri – Lawal Ado, AIG Zone 16 Yenagoa – Austine I. Agbonlahor, and AIG Zone 17 Akure – David Oyebanji Folawiyo.

“In the same vein, CP Asuquo A.A Amba, former Commissioner of Police, Ekiti Command takes charge as AIG of the new FCID Annex Gombe; CP Olafimihan A. Adeoye, former CP Federal-SARS takes charge as the AIG FCID Annex Enugu while CP Uche J. Anozie, fsi, former CP Cross River takes charge as AIG FCID Annex Lagos.

“The IGP charges the affected Senior Officers to bring their wealth of experience to bear in their new places of assignment.

They are to ensure that policing is brought closer to the people and work with relevant stakeholders to tackle crime and improve on policing services across the country.

“The postings/redeployments are with immediate effect,” the statement read.

38

The Oracle Today Monday July 13 - Sunday July 19 2020

SPORTS Iheanacho credits Rodgers for his Leicester City resurgence

By MADUABUCHI KALU

I

nform Super Eagles’ striker, Kelechi Iheanacho, has credited his resurgence at Leicester to his manager, Bender Rodger ever he expressed delight at revealed his delight at playing under him.

It is recalled that the Northern Irish tactician was appointed in February 2019, replacing Claude Puel and has been the driving force behind the success of the team.

The King Power Stadium outfit is close to realizing their Champions League target, considering their

Rabiu Ibrahim wins league title in Slovakia

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ut of favour Super Eagles midfielder, Rabiu Ibrahim, has wo the Slovakian League tittle with Slovan Bratislava.

Rabiu and his teammates have crowned Champions after playing out a goalless draw at home to Spartak Trnava on Saturday.

Ibrahim and his compatriot Ezekiel Isoken Henty featured in the game and helped Slovan Bratislava secured the desired point to be crowned as 2019-2020 Slovakian league champions.

Slovan Bratislava accumulated 68 points from 27 games to win the league title and Rabiu Ibrahim would be delighted with the achievement after struggling with injuries earlier in his career.

He was once tagged as the natural heir of Austin Jay Jay Okocha

by FIFA and Nigeria football lovers following his heroic performances at the 2007 FIFA U-17 World Cup in South Korea.

He was signed by Sporting CP, PSV Eindhoven, Celtic, Gent but injuries denied him game time with these clubs.

But since joined Slovan Bratislava two years ago, the 29-year-old has been able to stay fit and played 42 games and scoring twice.

He played for Nigeria from the U-17 to the U23 level and make five only five appearances for the Super Eagles.

current fourth position on the table.

The 2015 FIFA Under-17 World Cup Most Valuable Player (MVP), it is noted has endured mixed fortunes since teaming up with the Foxes from Manchester City but he is gradually becoming a key member of the team.

The King Power Stadium outfit is close to realizing their Champions League target, considering their current fourth position on the table.

Iheanacho has endured mixed fortunes since teaming up with the Foxes from Manchester City but he

is gradually becoming a key member of the team.

The forward has bagged 10 goals and provided four assists in all competitions this season and he has explained how the Northern Irish tactician has been motivating him as well as his other teammates.

“He’s a different class. He speaks to everyone and motivates and encourages them. He got me going, to be fair,” Iheanacho told the club website.

“He got everyone going. Whenever I’m playing, I’m free to express myself, so long as I stick to the plan, and it’s just a joy to play under him.”

The Foxes were third on the Premier League table before the outbreak of coronavirus which forced football activities across the world into a hiatus.

The King Power Stadium outfit has, however, been able to secure only one win in their last five games since the restart of the English topflight.

Iheanacho, who has scored twice in his last three games, has urged his side to remain focused in order to win their remaining four league games and finish in top-four at the end of the campaign.

“It’s been great, I’ve really enjoyed

Nigeria set to battle Ghana in FIFA U-17 World Cup

it. We worked hard in training before the restart on getting our fitness right,” he continued.

“It was a bit different because, normally when the season finishes, you come back after a holiday or travelling, but when you’re just inside for three months, it’s hard.

“Now, we need to keep our standard high and keep the philosophy that we’ve had since the start of the season. We just need to finish these four games well.

“It needs focus to get it done and dusted. We’re ready, we’re focused, and we’re trying to get there.”

I must win trophy before I depart from Tottenham – Mourinho

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By MADUABUCHI KALU with Agency report

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he Nigerian Under-17 Women’s team, Flamingoes are set take on the Ghana Under-17 Women’s team in the qualifiers to the next edition of the FIFA Under-17 Women’s World Cup in late October following an announcement from CAF. The Flamingoes of Nigeria booted out the Guinea Under-17 team with a 12-2 win on aggregate, the team were paired to face Ghana in May, 2020 before Coronavirus halted sporting activities.

In the qualifiers to the World Cup scheduled to be played in India, the Black Maidens of Ghana have im-

pressed as a free-scoring side in the hands of head coach Baba Nuhu.

Having faced the Liberia U-17 team in the last Round, the Ghana team recorded an enviable 10-0 aggregate victory to book their ticket to the Final Round.

Unfortunately, the Coronavirus (Covid-19) crisis which has hit the African continent and all other parts of the world in the last 5 months did not allow the match between Nigeria and Ghana to happen.

CAF this week has announced that the next round of the qualifiers to the FIFA Women’s U-17 World Cup will be played in late October or early November.

The proposed dates for the first and second legs of the encounter

are: 1st Leg: 30, 31/Oct. or 1/Nov./2020 2nd Leg: 19, 20 or 21/Nov./2020 Other matches expected to be played include: Uganda vs Cameroon South Africa vs Morocco.

At the end of the qualifiers, 3 countries from Africa will make it to the 2021 FIFA Under-17 Women’s World Cup to be staged in India.

It is expected that the President Muhammadu Buhari led All Progressives Congress (APC) led Federal Government will lift the suspension on all sporting activities before soccer battle.

ormer Chelsea, RealMadrid and Manchester United manager and currently at the helm of affairs at West London club, Tottenham Hotspur has declared his confident of winning trophies at the club before his three-year deal expires.

Mourinho, it is recalled arrived the club in November after Mauricio Pochettino was sacked, but Spurs have already been knocked out of the Champions League and FA Cup during his time.

Spurs find themselves in ninth position in the Premier League table ahead of Sunday’s North London Deby, but Mourinho said he needs time before he can succeed at the club.

“How long it took for Jurgen [Klopp] and Liverpool?” Mourinho said.

“Four years, four seasons.

“Buying one of the best goalkeepers in the world, buying one of the best centre-backs in the world and so on and so on and so on.

“I’m focused on my three-year contract. I believe that in my threeyear contract we can win trophies. If we don’t, but the club does it in the new era if I stay here only for three years, I will be happy with that,” Mourinho said.

39

The Oracle Today Monday July 13 - Sunday July 19 2020

SPORTS Serena Williams is coming to shock world, Mouratoglou warns doubters

By MADUABUCHI KALU with agency report

A Coronavirus: Rohr predicts difficult 2022 for Eagles

By MADUABUCHI KALU with agency report

S

equel to the postponement of the 2021 Africa Cup of Nation’s (AFCON), nation al handler, German Gernot Rohr, has predicted that the year 2022 might be strenuous for the threetime African champions, the Super Eagles if they qualify for the Federation of International Football Association (FIFA) World Cup and Africa Cup of Nations, both in 2022.

The coronavirus pandemic has disrupted the global football calendar with the Confederation of African Football (Caf) postponing several competitions, including the 2021 Afcon for health and safety reasons.

The continental tournament, initially scheduled to hold between

June and July in 2021, has been moved to January 2022 with Cameroon still the host country.

The Super Eagles have commenced their qualification campaign for the tournament, and they currently are at the top of Group L ahead of Sierra Leone, Benin and Lesotho with six points after two matches.

With the next World Cup tournament in Qatarset to take place in the winter of 2022, the German coach said the hectic qualifying schedule in 2021 might affect the team the following year.

“The Africa Cup of Nations is postponed. It’s the same for everyone so it’s not a drawback,” Rohr told Girondins4ever.

“We have more time to prepare as well as for other countries. We can continue the play-offs and start the World Cup qualifiers at

the same time.

“But it will be a difficult 2022 year because already in 2021, there are a lot of qualifying matches to play for the team.

“I think we will have time to play a few friendlies. In the year 2022, if we have qualified for the World Cup and the Afcon, there will be many, many games to play.

So it will certainly be a difficult year.”

In May, Rohr agreed a two-andhalf-year contract extension with the Nigeria Football Federation (NFF) to continue as the Super Eagles coach until December 2022.

Included in the new deal is a mandate for the former Bordeaux manager to qualify for the 2022 FIFA World Cup which will hosted

by Qatar and also win AFCON, after helping them win bronze in Egypt last year.

of my moments is to have my first born walk on the track with me,” said the track and field great.

Bolt and his long-time girlfriend Kasi Bennett became parents for the first time in May, and on Tuesday they introduced Olympia Lightning to the world via social media and said parenting might be harder than breaking the world records.

“It’s harder than breaking a World record. I got sick that first week as I was scared to fall asleep,

so I stayed up at nights just watching her,” Bolt said in the interview.

Bolt said it was Kasi who got to name the baby based on an agreement they had earlier, saying there was an understanding that if it was boy he would get naming rights and if a girl then she would.

“Anything she wants to do will be fine...if she hates running, I am fine with that, running is hard so I am fine with that,” Bolt said.

Bolt considers taking daughter, Olympia to Tokyo Olympics

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ormer Olympic sprint mega star, Usain Bolt, says he was looking forward to taking his baby daughter to the Olympics this year, and even while he is hopeful that the global sporting extravaganza will go on next year, he was disappointed when the Games were postponed this year due to the novel coronavirus pandemic.

The man, who set seven individual World records, breaking the 100m world record four times and the 200m on three occasions, said he was looking forward to going to the Olympics as a fan with his family.

I was looking forward to it [as] this would have been my first time to watch and I was excited to go and see different events,” he said, during an interview with American magazine Variety on Thursday as the build up to a series called ‘Greatness Code’, which features several athletes from different sports who have made a significant impact on their events.

Bolt said he had hopes that all would be well in 2021 when he can get to go to Tokyo.

“The only thing is that I will get to take my daughter next year if the world gets back to normalcy, one

fter months of speculation, The Oracle Today Sports can authoritatively confirmed that the US Open would be taking place this year.

Though many players were not sure about the event, Serena Williams confirmed her participation and has begun training. According to her coach Patrick Mourataglou, she is working very hard to achieve her goals, which is to win another grand slam.

In a recent interview with Tennis Majors, Patrick Mourataglou talked about a lot of things.

One of those things was about how Serena Williams is training to achieve some of her biggest goals at the US Open. He said, “Serena is practising of course.

She came back to tennis to win Grand Slams. Otherwise, she would be at home with her family, which she is doing also, but she would do this and run her business full-time. She came back

only for that. It’s her home grand slam, so she wants to play and she wants to do well, so she’s preparing for that.”

This is an answer that would not have come as a surprise for a lot of people. Serena is 38 years old and she has won so many titles throughout her career. She is still playing tennis to achieve her biggest goal – becoming the GOAT of women’s tennis.

This record for most number of Grand Slams is currently being held by Margaret Court who won 24. Serena just needs one more Slam to equal this record.

That one Slam has eluded her for the past few years. She had 4 opportunities to win it during 2018 and 2019 by reaching the finals of many Grand Slams. Sadly, she lost all of those matches.

The American star is going to make sure that does not happen this year at the US Open where she will finally cement her position as the greatest women’s tennis player of all time.

Tiger Woods to return to PGA tour action at this week’s memorial in Ohio

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iger Woods announced last Thursday that he would compete at this week’s Memorial Tournament in Dublin, Ohio, the 15-times major champion’s first PGA Tour event in five months.

“I’m looking forward to playing in the @MemorialGolf next week,” Woods saidon his Twitter account. “I’ve missed going out and competing with the guys and can’t wait to get back out there.”

Woods last competed on the PGA Tour in mid-February when he labored through a final-round 77 at the Genesis Invitational where he finished last among players who made the cut.

The 44-year-old reigning Masters champion then skipped a number of events with back issues prior to the PGA Tour’s threemonth Covid-19 hiatus that began in mid-March and opted to sit out the circuit’s first five events since the break.

The Memorial Tournament at Muirfield Village is one of the most high-profile, non-major events on

the PGA Tour and Woods has triumphed there a record five times, most recently in 2012.

Woods will be part of a loaded field that also includes world number one Rory McIlroy, five-times major champion Phil Mickelson, 2018 Memorial champion Bryson DeChambeau and major winners Dustin Johnson and Sergio Garcia.

Woods, who is one win shy of a record-breaking 83 PGA Tour victories, did play a 24 May charity match with Phil Mickelson and Super Bowl-winning quarterbacks Tom Brady and Peyton Manning.

The 16-19 July tournament was originally supposed to have a limited number of spectators but earlier this week the PGA Tour scrapped plans to let fans attend due to Covid-19.

The 16-19 July tournament was originally supposed to have a limited number of spectators but earlier this week the PGA Tour scrapped plans to let fans attend due to Covid-19.

Beye hails Okocha, says Hwa on same level with Ronaldinho

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ormer Newcastle, Aston Villa star, Habib Beye, claims former Super Eagles captain, Austin Jay Jay Okocha was on the same level with former Brazil and Barcelona talisman, Ronaldinho.

Austin Okocha has been ranked as high as Brazilian legend Ronaldinho by former Seneglases defender Habib Beye.

The former Newcastle and Aston Villa star had different spells in the Premier League and believes the former Bolton Wanderers captain was as good as the legendary Ronaldinho.

Beye claims Okocha would have won the Ballon d’Or if he had the

opportunity to play for one of the biggest sides in Europe.

Ronaldinho won the Ballon’d’Or in 2005 and the FIFA World Player of the Year awards twice in 2004 and 2005.

Okocha and Ronaldinho were former teammates with Paris SaintGermain before leaving the club to have a spell in the English top-flight division.

It is recalled that the former Super Eagles captain never won the African Player of the Year but came close in 1998 but was behind Moroccan midfielder Mustapha Hadji.

Beye said on Team sur Canal Plus via afriquesports.net: “Okocha is

one of the great players who have not been able to play in big clubs,” “Ronaldinho could have had two to four Ballons d’Or. Jay Jay Okocha is such a talent and could have been too.”

The 56-year-old who spent six seasons with the Merseyside outfit made this known during his Q&A session on Twitter tagged #ASKJimBeglin.

Though he never had the chance to play against the Super Eagles legend, the ex-attacker’s quality display of skills and good control of the ball must have motivated his decision.

It is also noted that Beye is not

alone in rating former Super Eagles captain high as the current national team captain, Ahmed Musa disclosed recently that the team’s former skipper, Austin Jay Jay Okocha, is Nigeria’s greatest player of all-time as far as he is concerned.

Musa who is observing the lockdown back home in Jos, Plateau state capital, disclosed this during an exclusive Instagram chat with Legit.ng on Thursday, May 21, 2020.

Okocha who possesses extraordinary skills had a 14-year glorious career in the colours of Nigeria between 1993 and 2006 scoring 14 goals in 73 appearances.

MONDAY July 13 - SUNDAY JULY 19, 2020

The

www.oraclenews.ng

racle

40

Today

VOX POPULI SACRUM

ISSN: 2545-5869

Edo 2020: Oshiomhole’s burden marketing Ize-Iyamu

I

f politics were mathematics, in which two plus two equals four, it would have been game over for the All Progressives Congress (APC) in the September 19, 2020 governorship election in Edo State.

But in politics, two plus two can produce a different result. That’s why barely two months and one week to the poll, and the seeming groundswell of supports for the Peoples Democratic Party (PDP), pundits are hesitant to call the vote for the new ruling party.

If the PDP carries the day in September, it will have the former National Chairman of the APC, Comrade Adams Oshiomhole, to thank for it. The former governor has had the APC work cut of for it, in trying to market its candidate, Pastor Osagie IzeIyamu.

Ize-Iyamu, a foundation member of the Action Congress of Nigeria (ACN) that merged with three political parties to form the APC in 2013, was a major player in Oshiomhole’s election in 2007. He became the director-general of his second term bid in 2012, and delivered on the assignment successfully.

But in 2016, while campaigning for his successor, Godwin Obaseki, Oshiomhole turned against his twice electoral facilitator, Ize-Iyamu, who had decamped to the PDP, which he flew its flag at the poll.

In the presumption that all is fair in politics, as in war, Oshiomhole, at every stop in the campaign to install Obaseki, leveled damaging, and mostly unsubstantiated allegations against Ize-Iyamu.

The thrust of the allegations, which became Internet hits at the 2016 election cycle, is that Ize-Iyamu was unworthy of any public office where he would oversee the finances of government.

And ahead of the September 2020 poll, those allegations have resurfaced at campaign gatherings, and particularly on social media. They’re the rave of the moment!

It’s such that the PDP and its members have virtually abandoned the real issues about what Obaseki has done for Edo people in the past three years and seven months, and what to expect from him in next four years if given a second chance.

Rather, the joint campaign of Obaseki and Deputy Governor Phillip Shaibu, and the PDP and its supporters are laser-focused on using Oshiomhole’s words against the APC candidate, Ize-Iyamu.

And who wouldn’t? Why belabour yourself when Oshiomhole, who’s the major promoter of Ize-Iyamu, has done a good job of demarketing his own candidate?

Simply replay those allegations and allow the voters to make up their minds!

Oshiomhole said so many “bad things” about and against Ize-Iyamu that need no repeating, but let’s sample some of his unrestrained characterization in an undated video of Channels TV’s live coverage of a 2016 APC rally in Benin City: His words: “It is true we (Ize-Iyamu and

GUEST COLUMNIST

Ehichioya

EZOMON

•Ize-Iyamu, APC gubernatorial candidate

•Comrade Adams Oshiomhole, former APC National chairman

I) found ourselves in the region of politics working together, but I never gave him government job. I kept him busy. Let him be holding midnight meetings, which he is used to.

“Ask him, since he was the DG (of my campaign), why did I not appoint him into government? We kept him away, nothing near government circle; no access to public fund.”

Oshiomhole pigeonholed Ize-Iyamu as fit only for the “dirty job” of politicking: strategizing, mobilising and campaigning for him to assume the office of governor twice. But in his reckoning, Ize-Iyamu wasn’t even qualified to be in the corridors of power, talk less of tasting the ultimate power as a governor.

It’s Oshiomhole’s “use-and-dump” that prompted Ize-Iyamu to decamp to the PDP in 2016 for the governorship contest against Obaseki, and the reason Oshiomhole unconscionably bad-mouthed, and ran Ize-Iyamu down.

But surprisingly at the rally (in the Channels TV video, reported by PREMIUM TIMES.online), as in other campaign stops, Oshiomhole gave testimonials about Obaseki’s stellar qualities for governor.

Oshiomhole was to come around two years later, in 2018, to revalidate his choice of Obaseki, as a “talk-na-do” governor.

On January 19, 2018, he commended his successor for achieving a lot in a harsh economic environment.

At the inauguration in Benin City of 75 intra-city buses purchased by the Obaseki administration, Oshiomhole said he’s proud of the governor for building on his legacy. Take a look: “I am humbled by your accomplishments, and I am proud that we made promises on your behalf during the 2016 electioneering period and you have accomplished a lot of the promises. You are working tirelessly to industrialize the state and make life easy for the people.

“Many governors are complaining that there is no money, and unable to pay salaries, but you have developed your own creativity to attract resources to the state. This reflects your competence and financial ability to develop the economy of the state.”

But in the heat of the crisis in the Edo chapter of the APC that pitted them against each other, Oshiomhole has turned praises of Obaseki into recrimination, and his demagoguing of Ize-Iyamu into recommendation for governor in the September poll.

Instructively, what Oshiomhole said in December 2019 when Ize-Iyamu returned to the APC may partially answer the PDP and its supporters’ poser for the APC and its supporters to show “any good thing that Oshiomhole has ever said about IzeIyamu.”

Oshiomhole said: “If you remember, Pastor Ize-Iyamu was my DG (campaign organisation) in 2012 (for my) second term. I won in all the 18 local government areas. I won all the wards in Edo South.

I scored 74.6 per cent in the total votes cast.

“In 2016, the man left us and stood against us. We only managed to defeat him with about 50,000 votes. So, if he is bringing on board, as he has done, that his goodwill, his energy, his resourcefulness, and his own electoral base to join the APC, I am much more confident now about APC continuous hold on the governance of this state than ever before.”

It’s like a dog coming back to its vomit, for Oshiomhole to project Ize-Iyamu’s ability to produce electoral victories, which wasn’t lost on Obaseki, and perhaps the reason he didn’t want Ize-Iyamu in the APC to battle the September poll ticket with him.

But that’s history now, as Ize-Iyamu and Obaseki have switched positions in the APC and PDP. But the question is: Can Oshiomhole whitewash Pastor Ize-Iyamu and blacken Governor Obaseki in the runup to the poll? What about his past condemnation of one and commendation for the other that’s shaping the campaigns?

Well, in politics, which is not mathematics, what goes around doesn’t really come around. Karma may appear to have caught up with Oshiomhole, but he could turn things around in the barely two months before the election, and shame his vilifiers.

One week, even 24 hours, is a long time in politics. Any eventuality could muddy the waters for the PDP and Governor Obaseki, who’s already measuring the new drapes at the Osadebey Avenue Government House in Benin City. So, it isn’t ‘Uhuru’ yet!

•Mr. Ezomon, Journalist and Media Consultant, writes from Lagos, Nigeria.

Twitter: @EhichioyaEzomon.

WhatsApp: 08033078357

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