MONDAY 3RD JUNE 2019

Oando: SEC Sets up Interim Management Ndubuisi Francis in Abuja The Securities and Exchange Commission (SEC) has constituted an Interim Management Team (IMT) headed by Mr. Mutiu Sunmonu, to oversee the

affairs of Oando Plc and conduct an Extra Ordinary General Meeting on or before July 1, 2019.

Although other members of the IMT were not disclosed, SEC said in a terse statement issued last night that the team

is to also appoint new directors to the board of the company, who would subsequently select a management team for Oando Plc. The head of Oando Plc Interim Management Team (IMT) was the managing

director of The Shell Petroleum Development Company of Nigeria Limited from 2004 to March 1, 2015.

He served as Vice President of Production Sub-Saharan Africa at Royal Dutch Shell Plc and served as its Country

Chairman of Nigeria since December 31, 2009.

Sunmonu, who is on the board of many companies, including Unilever Nigeria Plc, where he is a non-executive director and Non-Executive Chairman of San Leon

Energy Plc, also serves as an Executive Consultant to Pan Ocean and Newcross EP providing leadership across the operations, regulatory/ statutory compliance Continued on page 8

IATA: Boeing 737 MAX Accidents Eroded Confidence in Air Transport... Page 8 Monday 3 June, 2019 Vol 24. No 8820. Price: N250

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APC Risks Zamfara Treatment in Bayelsa, Kogi Yet to file schedule of gov primaries with INEC Commission to test seizure of Okorocha’s certificate of return up to S’Court Segun James Unless the All Progressives Congress (APC) takes early steps to resolve the escalating crisis in its Bayelsa and Kogi

States branches, it might be risking a repeat of the setbacks it suffered in Zamfara and River States in the last general election, THISDAY learnt at the weekend.

The party had lost out in the National Assembly, governorship and state assembly contests held earlier in the year in Zamfara and Rivers States due to

intractable differences among its members, which ended up in multiple court litigations.

In the end, the Supreme Court annulled the party’s primaries in both states,

resulting in victories for the candidates of their main contender, the Peoples Democratic Party (PDP).

According to THISDAY sources, the crisis in the party’s

branches in Bayelsa and Kogi has made it difficult to agree on a schedule of primaries for the governorship election Continued on page 9

Expectations High over Presidential Appointments as Buhari Returns Set to name principal aides Omololu Ogunmade in Abuja There are high expectations

by Nigerians that President Muhammadu Buhari, who returned to the country yesterday from Makkah, Saudi Arabia, where he attended a meeting of the Organisation of Islamic Cooperation (OIC), would begin to name his principal aides that would assist him superintend his administration, whose fresh term began last Wednesday.

The president had jetted out of the country a day after his inauguration to attend the OIC meeting, which drew a wave

of controversy from critics who felt it could violate Nigeria’s secularity.

The trip obviously delayed the announcement of key aides that would be working with the president, raising anxiety that he might be stalling about picking his key staff.

Buhari had told THISDAY last year in a well-publicised interview that he would hit the ground running with the appointment of aides and minister unlike his first tenure when it took him quite a while to do.

Continued on page 9

WORKING TOGETHER… Atiku Protests Delay in L-R: Head, Enforcement Department, Securities and Exchange Commission, Mr. Amos Azi; Acting Executive Commissioner, Mr. Isyaku Tilde; Acting Chairman, Economic and Financial Crimes Commission, Mr. Ibrahim Magu; and Acting Director Bulkachuwa’s Replacement… Page 8 Operations, General, Securities and Exchange Commission, Ms. Mary Uduk, during a meeting between the EFCC and SEC in Abuja… weekend

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PAGE EIGHT

Atiku Protests Delay in Bulkachuwaâ&#x20AC;&#x2122;s Replacement Says 76 of 180 statutory days gone Wants new tribunal chairman appointed immediately Adedayo Akinwale in Abuja The presidential candidate of the Peoples Democratic Party (PDP) in the 2019 presidential election, Alhaji Atiku Abubakar, has petitioned the Court of Appeal over what he described as a deliberate ploy to truncate the constitutional deadline for the hearing of his petition challenging the victory of President Muhammadu Buhari at the last presidential election.

He expressed worry in a letter dated May 31, 2019 that 11 days after the President of the Court of

Appeal and erstwhile Chairperson of the 2019 Presidential Election Petition Tribunal, Justice Zainab Bulkachuwa, disqualified herself from the tribunal, following the petition of the PDP and the Atiku/Obiâ&#x20AC;&#x2122;s legal team, the appellate court is yet to name her replacement.

The PDP and Atiku had based their application, among other things, on the ground that Bulkachuwa is the wife of Mr. Adamu Bulkachuwa, a member of the All Progressives Congress (APC) and senator-elect for Bauchi North senatorial district, which

is a political party involved in the suit.

However, in delivering the lead ruling on the application, Justice Peter Ige, said enough materials had not been presented before the court to show that Justice Bulkachuwa would be biased in the hearing and deciding on the petition.

He said the fact that being married to a senator-elect, who along with her son, is in the APC, would not lead to any bias in the case.

Bulkachuwa, however, withdrew from the tribunal for

personal reasons after the court dismissed the application by the PDP and its candidate, asking her to recuse herself from the tribunal.

But Atiku in the letter through his counsel, urged the President of the Court of Appeal to appoint a replacement forthwith, since it knows the tribunal has a timeline to prosecute the petitions.

Atiku reminded the Appeal Court that already, 76 days have been expended out of the 180 days allowed by law, as stipulated in Section 134 (2) and (3) of the Electoral Act (2010 as amended).

The petition stated: "I am one

(Silas Joseph) of the counsel in the legal team prosecuting the above petition on behalf of the Petitioners.

"I have the authority of the Lead Counsel, Dr. Livy Uzoukwu (SAN), to write this letter. My Lord will recall that on May 22, 2019, the above-mentioned petition came up for a motion requesting that My Lord to recuse herself from further presiding or participating in this petition. At the end of the proceedings, My Lord graciously recused herself on â&#x20AC;&#x2DC;personal groundsâ&#x20AC;&#x2122; and promised to appoint another justice to

continue with the petition.

"My Lord, it is nine days since the date My Lord recused herself and nothing has been heard regarding the replacement that was to be made thereafter.

"Considering the strict requirement of keeping to the constitutional calendar for a petition and the obvious fact that time is also running fast against the petitioners. We pray My Lord to act timeously in appointing a replacement so that we will get a hearing notice and continue with the petition in the interest of justice."

EmeďŹ ele Takes Oath of OfďŹ ce Today

Reappointment excites CBN staff Court dismisses suit challenging stamp duty collection by banks

Davidson Iriekpen and Obinna Chima Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, will formally assume office for a second term of five years today.

In line with tradition, Emefiele is expected to take the oath of office to be administered on him today by the Director, Corporate Services Department, CBN. THISDAY also gathered that excited CBN staff will today give the governor a special reception into the apex bank in commemoration of his second tenure.

This is coming as the Federal High Court, sitting in Lagos, has struck out a suit challenging a circular issued by Emefiele on January 15, 2016, directing banks and other financial institutions to enforce the collection of N50 stamp duty on electronic transfers and teller deposits from N1,000 and above (Eligible Bank Transactions).

Just like he did at the beginning of his first tenure, Emefiele may in the coming days unfold his agenda for the central bank for

his new five-year tenure, which will elapse in 2024.

The Senate had last month confirmed the reappointment of Emefiele as governor of the CBN. This was sequel to the presentation of the report of the Senator Adebayo Ibrahim-led Senate Committee on Banks, Insurance and other Financial Institutions that screened the nominee.

President Muhammadu Buhari had on May 8 submitted the name of Emefiele to the Senate for consideration for a fresh term in office.

A source told THISDAY that central bank staff were excited by the reappointment of Emefiele. â&#x20AC;&#x153;We would welcome him specially today in appreciation of his well-deserved reappointment.

It is also to demonstrate our support for the policies he has been implementing since his first term as well as what he has done for staff welfare,â&#x20AC;? he said, adding: â&#x20AC;&#x153;We, however, expect him to do much more for the economy and staff welfare going forward.â&#x20AC;?

Emefiele, recently tasked policy

makers in all sectors of the economy, particularly political leaders who had witnessed â&#x20AC;&#x153;the good old daysâ&#x20AC;? in the country, to take up the responsibility of ensuring that the system works again.

The CBN boss had also said he would like to be remembered as one who did his best to get the country working again by the time he retires from public office and challenged other public officeholders to have a similar mindset.

He had said: â&#x20AC;&#x153;It will be selfish for those of us who saw this country when it was good, being in a position of policy-making, to allow the current bad trend to continue. â&#x20AC;&#x153;We owe it as a responsibility as policy makers, whether in the educational sector, in the banking sector, in the political arena to see to it that you contribute your best, your quota towards changing the situation for the better in our country. â&#x20AC;&#x153;I have had the opportunity of traveling out of the country.

Some of you who know Dubai can imagine what Dubai was 20 years ago. Today, Dubai is a tourist attraction to anybody.

Letâ&#x20AC;&#x2122;s leave Dubai. Some of us who read economics during the Asian crisis, 1997 to 2000/2001, know the kind of crisis that hit the Far East countries- the Asian countries. â&#x20AC;&#x153;They were so badly hit but out of adversity, they turned their situation round.â&#x20AC;?

Court Throws out Suit Challenging EmeďŹ eleâ&#x20AC;&#x2122;s Circular In another development, a Federal High Court in Lagos has struck out a suit challenging a circular issued by Emefiele, on January 15, 2016 directing banks and other financial institutions to enforce collection of N50 stamp duty on electronic transfers and teller deposits from N1,000 and above.

The applicants - Incorporated Trustees of Laws and Rights Awareness Initiative and Mr. Victor Adeyon, had commenced the suit against the CBN on February 9, 2017 praying the court for an order of mandamus to compel Emefiele to issue another circular redirecting

DMBâ&#x20AC;&#x2122;s to stop deducting and remitting N50 as stamp duty on eligible banking transactions.

The applicants, through a motion filed by their counsel, Mr. Olumide Babalola, had sought a declaration that by virtue of the decision in CA/L/437A/2014 Standard Chartered Bank v Kasmal International Services Ltd (Appeal No: SC/524/2016) delivered on April 21, 2016, the respondent ought to have issued another circular directing banks to stop deducting and remitting stamp duties from cash deposits and/or electronic transfers of over N1,000.

The CBN, through its counsel, Prof. Fabian Ajogwu (SAN), leading Mr. Moruf Sowunmi, Ms. Tosin Kachikwu, Ms. Bridget Osazuwa, Mr. Daniel Olikah, Mr. Ibrahim Muhammed and Ms. Kamilah Alegeh opposed the applicantsâ&#x20AC;&#x2122; suit and challenged the legality of the remedy being sought by the applicants.

It argued that the court is not vested with the jurisdiction to entertain the matter as the claim was statute-barred.

It stated that the judgment, which the applicants sought to enforce is the subject of an appeal at the Supreme Court and that the respondent was an agent of a disclosed principal of the bank, among others.

In delivering his judgment, Justice Chuka Obiozor held that the applicants failed to prove that they were entitled to an order of mandamus compelling the respondent to issue another circular directing deposit money banks to stop deducting and remitting stamp duties from cash deposits and/or electronic transfers.

The court further ruled that the suit had been overtaken by events by virtue of a prior Federal High Court decision on the same subject matter in Suit No: FHC/L/CS/126/2016 â&#x20AC;&#x201C; Retail Supermarkets Nigeria Limited V. Citibank Nigeria Limited & CBN. It reasoned that since there was a subsisting judgment in respect of the same subject matter it was unnecessary to grant the reliefs sought by the applicants and consequently struck out the suit.

IATA: Boeing 737 MAX Accidents Eroded Confidence in Air Transport Airlines target $28bn profit in 2019 NCAA withdraws operating licence of pilot over infractions Chinedu Eze The International Air Transport Association (IATA) has decried the tragic accidents of Lion Air Flight JT 610 on October, 2018 and Ethiopian Airlines Flight 310 on March 10, 2019, involving a new aircraft, Boeing 737 MAX 8, in which a total of 346 persons died.

It said the crashes eroded confidence in air travel, which is the safest means of transport.

This is coming as airlines around the world target $28 billion profit in 2019, which

is about $6.12 per passenger.

In another development, the Nigerian Civil Aviation Authority (NCAA) said it had revoked the Airline Transport Pilotâ&#x20AC;&#x2122;s Licence (ATPL) of a pilot for serious violation of the Nigeria Civil Aviation Regulations (Nig.CARs).

IATA said after several years of improved record in air safety globally, the two crashes put the reputation of airlines in the spotlight.

The Director General and CEO of IATA, Alexandre de Juniac, who made this known in his opening speech at the Associationâ&#x20AC;&#x2122;s Annual

General Meeting (AGM) in Seoul, South Korea, yesterday, expressed optimism that the problem with the aircraft would be resolved.

He added that despite the accident, global safety standard in air transport is still very high and has continued to improve.

He said: â&#x20AC;&#x153;The recent Boeing 737 MAX accidents have put our reputation in the spotlight. Serious questions arise with two accidents of a new aircraft model in quick succession. Investigations will ultimately reveal the cause.

And a remedy will be found.

The consequences of these tragedies, however, go far beyond the technical. Trust in the certification system has been damagedâ&#x20AC;&#x201D;among regulators, between regulators and the industry and with the flying public. â&#x20AC;&#x153;Everyone must be confident that processes are sufficiently thorough not to warrant duplicative and redundant examinations jurisdiction by jurisdiction.â&#x20AC;?

According to him, the US Federal Aviation Administration (FAA), which is at the centre-stage of this problem as a regulator, needed

to have close collaboration of counterpart manufacturers and global civil aviation authorities .

He added that any rift between regulators is not in anybodyâ&#x20AC;&#x2122;s interest. â&#x20AC;&#x153;This is about more than restoring confidence in how aircraft are certified. When issues arise, coordination among regulators and with industry must improve.

People were confused as grounding decisions rolled out in some markets while it was business as usual in others. Put yourselves in the shoes of travellers and I am

Deloitte & Touche to conduct a forensic audit of the activities of Oando Plc. "The general public is hereby notified of the conclusion of the investigations of Oando Plc. The findings from the report revealed serious infractions such as false disclosures, market abuses, misstatements in financial statements, internal control failures, and corporate governance lapses stemming from poor board oversight, irregular approval of directorsâ&#x20AC;&#x2122; remuneration, unjustified disbursements to

directors and management of the company, related party transactions not conducted at armâ&#x20AC;&#x2122;s length, among others.â&#x20AC;?

The company is also expected to pay an undisclosed monetary penalty while board members are expected to refund improperly disbursed remuneration.

In addition, the SEC stated that other aspects of the findings would be referred to the Nigerian Stock Exchange, NSE, Federal Inland Revenue Service, FIRS, and the Corporate Affairs Commission, CAC.

OANDO: SEC SETS UP INTERIM MANAGEMENT and external relationship management.

He is also chairman, Julius Berger Nigeria Plc, a post he has held since 2015.

The SEC had on Friday barred the Oando Chief Executive Officer (CEO), Mr. Wale Tinubu, and his deputy, Mr. Omamofe Boyo, from being a director in any public company for the next five years.

SEC also directed board members found guilty of various infractions to resign.

The commission equally called for the convening of an extra-ordinary general meeting before July 1 to appoint new directors.

SEC's decisions followed the conclusion of investigations into the activities of Oando Plc, having received petitions last year that the company had indulged in capital market infractions.

SEC had given Deloitte the go-ahead to carry out a forensic audit after Mr. Dahiru Mangal, a shareholder, accused

the company of declaring false profits and insider trading.

In a statement issued on Friday to announce the conclusion of investigations, SEC had said: "Following the receipt of two petitions by the commission in 2017, investigations were conducted into the activities of Oando Plc (a company listed on the Nigerian and Johannesburg Stock Exchanges). â&#x20AC;&#x153;Certain infractions of securities and other relevant laws were observed. The commission further engaged

sure anyone would expect better. To be clear, I am not advocating for knee-jerk reactions. But governments and industry must find a way to maintain public confidence in safety with fast and coordinated responses.

TOP GAINERS NGN NGN % AXAMANSARD 0.18 1.98 10 LEARNAFRIC 0.12 1.34 9.8 CCNN 1.00 15.00 7.1 DANGFLOUR 0.85 16.85 5.3 COURTVILLE 0.01 0.24 4.3 TOP LOSERS NGN % OANDO 0.45 4.20 9.6 CHAMPBREW 0.09 1.01 8.1 LAFARGE 0.60 10.10 5.6 UBA 0.35 6.25 5.3 FIDELITYBANK 0.08 1.68 4.5 HPE Nestle Nig Plc â&#x201A;Ś1,450.00 Volume: 212.941 million shares Value: N2.731 billion Deals: 3,737 As at 31/5/19 See details on Page 35

9

T H I S D AY ˾ MONDAY, JUNE 3, 2019

NEWS

Report: Nigeria Still Vulnerable to Oil Price Shock Predicts revenue to debt service ratio of 80% by 2022 External debt approaching pre-Paris Club bailout levels, says expert Obinna Chima Nigeria will be in a vulnerable position if oil prices fall again and further borrowing becomes too expensive or no longer feasible, a report has warned.

Andrew Roche, sovereign debt expert at Finexem, an advisory group based in London and Paris, which specialises in strategic advice and financial engineering for projects and transactions in the emerging markets, stated this in their latest report titled: “Nigeria’s External Debt: The Post-Election Boomerang,” obtained by THISDAY at the weekend.

The report pointed out that after a contentious, but successful presidential and National Assembly elections in Nigeria, investors have started re-evaluating the country’s outlook.

It noted that Nigeria had taken on debt to support the economy despite a difficult external environment, adding that the country had also made some efforts for structural reform, including a more transparent exchange rate mechanism and diversification of the economy.

The report noted: “Given the recent increase in Nigeria’s

external debt, Nigeria will be in a vulnerable position should the oil price fall again and further borrowing become too expensive or no longer feasible.

“The situation would worsen if available hard currency is then earmarked to support the naira and maintain import and investment activities at the expense of debt servicing.

“Investors should keep this in mind, as well as the fact that any recent debt is unlikely to be restructured given Nigeria has benefitted from exceptional debt relief in the past. In short, the external debt of Nigeria has the potential to become a post-election boomerang.”

However, the firm stressed that questions abound concerning the country’s end use of borrowed funds, the success of reforms and ongoing vulnerability of Nigeria’s fiscal position given its growing external debt burden.

According to it, “Investors are essentially questioning the sustainability of Nigeria’s new debt profile given the dependency of Nigeria on high oil prices and the oil supply caps imposed

by Organisation of Petroleum Exporting Countries.

“They also question whether new borrowing has been financing

infrastructure improvements, especially in the power sector, which would reinforce Nigeria’s future debt servicing capacity.”

The firm said Nigeria’s power sector requires substantial investment as reflected by the federal power sector recovery plan.

At present, Nigeria’s debt to GDP ratio is below the average of other sub-Saharan countries and analysts believe there is a moderate level of debt distress in the country.

However, Nigeria’s annual government revenues are comparatively low compared to the same countries given a large informal economy and a resulting low tax base compared to the same countries, it added.

“Debt service to government revenues is a better measure of the weight of public debt in the Nigerian economy,” the report stated, adding that “repayments of both domestic and external public debt account for over 60 per cent of federal government revenue today on average, which leaves little funding left over for capital expenditure and reform.”

It added: “The trend is also expected to get worse reaching 80 per cent in 2022. Without borrowing to finance nearly

25 per cent of annual budget, there would be no fiscal space for spending.

“As such, heavy debt servicing represents an important vulnerability in the economy and highlights how short-lived the impact of past relief has been on national finances.

“Observers may ask how Nigeria has been able to borrow so much on relatively good terms over the past years despite a weakening fiscal position and starkly lower prices for its principal export commodity.

“The country’s ability to do so reflects the lack of alternative investment in the international marketplace and the hunt for yield by investors.”

It stressed the urgent need to develop Nigeria’s local non-oil sectors, pointing out that the private sector had not been able to fulfill this objective.

According to it, “In such a context, the Nigerian public sectors must walk the fine line of diversifying the economy without crowding out the private sector.

“It must also work to cut imports and incite local production of many goods. It appears, however, that the lion’s share of external borrowing has been used to support the naira

when the price of oil was low and to finance sustained budget deficits.

“Key infrastructure, on the other hand, has not received enough funding or support, especially in the critical energy sector.

“This is disappointing especially given the priority given to energy infrastructure in the Federal Power Sector Recovery Plan and the dire state of electricity production in the country.”

There had been concerns about the growing debt profile of the country reaching pre-Paris Club levels.

The Muhammadu Buhari administration’s first term took up Nigeria's Domestic Debt profile from N8.39 trillion in Dec. 2015 to N11.77 trillion in Dec. 2018.

The total public debt as at December 2018 is put at N24.4 trillion by the Debt Management Office (DMO), N16.8 trillion of which is domestic debt and N7.6 trillion in foreign loans The foreign debt doesn’t include judgment debts running into billions of US dollars. In one case, involving a foreign company, Process and Industrial Development (P & ID), over a failed gas conversion contract

dispute, Nigeria attracted an arbitration award of over $6.6billion and another interest of $3billion, which has been accumulating daily since 2017.

Another arbitration award for breach of contract of over $2 billion is pending before the International Chamber of Commerce (ICC) in Paris from Sunrise Power and Transmission, a Nigerian company, related to the Mambilla power project.

Roche noted that Nigeria’s financial obligations, including the arbitration awards, amount to almost $33 billion in external debt, roughly as much debt as Nigeria accumulated prior to the Paris Club bailout.

An enforcement proceeding in a London commercial court for the P&ID case is billed for June 14, 2019. If the enforcement request is granted by the court, the nation’s financial woes might be compounded as part of Nigeria’s $45.06billion foreign reserves domiciled in Britain might be attached by P & ID to recover its arbitration award.

With an overall debt servicing (domestic/external) increment from N1.06 trillion in 2015 to N2.14 trillion in 2019, the future certainly does not look rosy for the country.

US Demands Social Media Handles of Visa Applicants Davidson Iriekpen The United States at the weekend rolled out new guidelines for visa applicants, which mandated them to provide details of their social media handles as part of the screening process.

The embassy said in a statement that it was doing

all within its power to promote national security.

The guidelines came less than a month after the US Embassy in Nigeria announced that all visa applicants, including frequent travellers, who were using the drop box method would have to appear for interviews each time they apply for visa.

The applicants, according to the United States State Department, must also submit five years’ worth of email addresses and phone numbers.

The measures, BBC reported, are part of strategies to ensure national security in the US. “National security is our top priority when adjudicating visa applications, and every

prospective traveller and immigrant to the United States undergoes extensive security screening,” the department said via an initial proposal in 2018.

“We are constantly working to find mechanisms to improve our screening processes to protect US citizens, while supporting legitimate travel to the United States,” the

department had said in the 2018 initial proposal.

It added that certain diplomatic and official visa applicants would be exempted from the stringent new measures.

However, people travelling to the US to work or to study will have to submit the information before being considered.

Last month, the US Embassy had announced that all applicants, including frequent travellers who were using the drop box method, would now have to appear for interviews each time they applied.

It, however, said diplomatic and government officials could continue to enjoy the status quo.

by the conditions of service in their letters of appointment.

They served at the pleasure of the president and had their appointment terminated at the expiration of his tenure.

“Anyone acting on behalf of the president now without a fresh letter of appointment does so unlawfully,” a lawyer familiar with the rules told THISDAY last night.

Whilst Buhari has absolute prerogative to appoint personal aides without consultation with anyone, the 1999 Constitution (as amended), requires him to apply to the Senate for approval of number of special advisers that would be working with him.

The appointment of ministers and other similar political appointments, including boards and ambassadorial, usually requires extensive consultations with the party and other

stakeholders, and would have to go to the Senate for approval.

This, presidential sources, say may circumscribe the desire of the president to act more quickly.

When contacted last night on when the president was likely to announce his first set of appointments, Adesina told THISDAY that he could not say as only Buhari could determine that.

Buhari Returns to Abuja from OIC Summit in Saudi Arabia Meanwhile, Buhari last night returned to Abuja from Makkah in Saudi Arabia, where he participated in the 14th summit of the OIC. Buhari, who left Nigeria on Thursday, was received at the Nnamdi Azikiwe International Airport by Kyari and other top government officials.

At the summit held with the theme, “Makkah al-Mukarramah

Summit: Hand in Hand toward the Future,” Buhari in his address, advocated the need for member countries to unite and work together to combat common challenges such as terrorism and violent extremism.

He also canvassed support for the recharge of Lake Chad and thanked OIC for its support for various projects in Nigeria such as the second Niger Bridge.

While holding a bilateral meeting with President Idris Deby Itno of Chad Republic on the sidelines of the meeting in Makkah, Buhari told Itno that it was time for “a new way forward that completely removes the threat of terrorism from Lake Chad sub-region.”

Both leaders agreed to deliberate on a strategy aimed at guaranteeing continued battle against terrorism until the menace is completely brought to an end.

former Imo State Governor, Rochas Okorocha, his certificate of return as a senator-elect unless compelled by court to do so. He gave a notice that INEC was ready to pursue the matter up to the Supreme Court.

Okorocha had approached the court for relief following INEC’s refusal to release his certificate of return on the ground that his declaration as winner of the senatorial election was done under duress.

The source said the commission would use the

Okorocha case to test the law because this was not the first time it would happen and that it needed to stop so it would not become the norm.

The official said there was a similar case in Bayelsa in 2015 in the election to the state House of Assembly when a candidate forced a returning officer to declare him winner by pointing a gun at his head.

The then INEC chairman, Prof. Attahiru Jega, he said, refused to give the person a certificate of return.

The aggrieved candidate eventually won his case at the appeal tribunal after Jega had left, forcing the incumbent INEC Chairman, Prof. Mahmud Yakubu, to give him his certificate of return.

“We want to test this case up to the Supreme Court to know the position of the law on this matter. The idea that anybody can force an electoral officer to declare result under duress is unacceptable. We must put an end to such rascality,” the source stated.

EXPECTATIONS HIGH OVER PRESIDENTIAL APPOINTMENTS AS BUHARI RETURNS But in a pre-inaugural interview aired by the Nigerian Television Authority (NTA) last week, the president said he had not discussed appointments with anyone, pleading to be trusted to appoint credible Nigerians into his cabinet.

Five days after his inauguration, no appointment has been announced while some of his aides, whose tenure had statutorily expired, are still in office.

In his first term, Buhari made his first appointment on the third day of inauguration, naming Mr. Femi Adesina and Malam Garba Shehu as special adviser and senior special assistant on Media and Publicity respectively.

He also appointed Mr. Lawal Kazaure as the State Chief of Protocol (SCOP).

No other appointment was made again until three months

later, when he named Malam Abba Kyari as his chief of staff on August 27, 2015. Another three months would elapse before the president sent the names of his ministers to the National Assembly for screening.

But the president had promised variously that this time around, he would make haste.

With his return to the country yesterday, all eyes are on him to make the haste he had promised even as Presidential Villa sources assured THISDAY yesterday that the president was set to begin to name his first set of appointees.

However, some of his aides have continued to function in their former capacity, an indication that the president might retain them.

Sources said last night that barring any last-minute change of mind, Buhari might retain Kyari, Adesina, Shehu and the Secretary to the Government

of the Federation (SGF), Boss Mustapha.

Shehu had last week issued the statement announcing Buhari’s Saudi Arabia’s trip and was part of the presidential entourage to the 14th session of the OIC conference.

Kyari was also among top government officials who received the president at the Nnamdi Azikiwe International Airport, Abuja, on his arrival from Saudi Arabia.

On his part, Adesina issued a statement yesterday in which the president condoled with two members of the Coalition of Buhari/Osinbajo Movement (COBOM), Mr. Akan Ebenezer and Chief Charles Azubuike Nwora Ojukwu, who died recently.

Technically, all the aides the president appointed in his first tenure have ceased to be in office

APC RISKS ZAMFARA TREATMENT IN BAYELSA, KOGI in the two states already slated for November 16 by the Independent Electoral Commission (INEC).

INEC had announced the date on May 16 with a request that all political parties intending to participate in the contest should file their schedule of activities.

According to the amended INEC timetable and schedule of activities for the governorship election, the primaries of the parties are expected to hold between August 18 and September 5, in accordance with

section 30 (1) of the Electoral Act 2010 as amended.

In compliance with the INEC’s directive, the PDP in a letter dated May 21, gave notice to INEC of its timetable.

The party said it would conduct its ward congresses in the two states on August 22, the local government congresses on August 26 and the nomination of their candidates on September 3.

According to an INEC source, “the PDP is organised and ready but the ruling party (APC)

members are busy fighting among themselves. We have not heard anything from the party but we are watching. Any name submitted without undergoing credible primaries will end up with the Zamfara scenario for which they are abusing INEC.”

Commission to Test Seizure of Okorocha’s Certificate of Return up to S’Court The source also said the commission would not give

MONDAY JUNE 3, 2019 ˾ T H I S D AY

10

NEWS

Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

Abaribe: PDP Senators-elect Yet to Endorse Anyone for Senate Presidency

Lawan to release his legislative agenda Friday Goje opts out of race South-east APC House caucus seeks review of speakership zoning Deji Elumoye and Chuks Okocha in Abuja Chairman of the South East Caucus in the Senate, Senator Eyinnaya Abaribe, has said that the 44 senators-elect of the opposition Peoples Democratic Party (PDP) have not endorsed anybody for the position of the president of the ninth Senate.

This is coming as the Senate Leader and the anointed candidate of the All Progressives Congress (APC), Senator Ahmed Lawan, will on Friday formally make public his Legislative Agenda for the next federal parliament billed for inauguration next week.

Strong indications have also emerged that a former governor of Gombe State and the Chairman of the Appropriation Committee of the outgoing Senate, Senator Danjuma Goje may have opted out of the Senate presidency race.

Abaribe, representing Abia South and Chairman of the Senate Committee on Power, Steel Development and Metallurgy, told THISDAY yesterday that the PDP senators-elect were yet to meet over the issue.

The re-elected senator in a text message declared that “PDP Senators elect are yet to meet as most of them are in their states for inauguration of their governors”.

However, THISDAY gathered that the national leadership of the main opposition party will meet in Abuja this week to determine who to support among those aspiring

to lead the two chambers of the Ninth National Assembly.

Lawan, had at the weekend expressed optimism that the PDP senators-elect would endorse him for the coveted office of Senate president.

The Senate leader will on Friday formally make public his Legislative Agenda for the next federal parliament billed for inauguration next week.

This is just as pressure has continued to mount on another aspirant for the Senate presidency, Senator Ali Ndume, on the need for him to jettison his ambition.

Lawan, a fifth-time federal legislator since 1999, was said to have initially planned to officially launch his Agenda next Monday but had a rethink because of the day being close to the inauguration of the Ninth Assembly which is expected to be on Tuesday, June11.

Sources told THISDAY that members of the Lawan for 9th Senate President Campaign Group agreed that the date should be moved to Friday, June 8, in Abuja.

The campaign group consisting of returning and fresh senators is expected to meet today at the campaign headquarters at Transcorp Hilton Hotel to put finishing touches to the public presentation of the Legislative Agenda.

THISDAY further learnt that the Agenda will be a pact between Lawan, and the other senatorselect on one hand, as well as the kind of relationship expected to

ASUU Shelves Planned Strike over Non-fulfillment of Agreement Hammed Shittu in Ilorin The Academic Staff Union of Universities (ASUU) at the weekend said it has shelved its plan to mobilise its members for industrial action to press home its demand for the fulfillment of the agreement it reached with the federal government The ASUU president, Prof Abiodun Ogunyemi disclosed this during an interview with journalists in Ilorin, Kwara State at the sidelines of ‘‘Day of Tributes’’ held in honour of the late Prof. Samson Olatunde Oduleye who was a member of the UNILORIN 49+.

The programme which was attended by members of UNILORIN 49 and their families, was held at the deceased’s Adewole Estate residence, Ilorin.

The ASUU president, however, demanded for an evidence from the federal government to show that the balance of the N25 billion earned academic allowances earlier released to universities had been ‘‘mainstreamed in the 2019 budget’’.

Paying tribute to the late Oduleye, the ASUU’s president asked the authorities of the University of Ilorin to tender an apology to the family of the deceased and others vindicated

by a Supreme Court’s judgment.

Oduleye, who was a former chairman of ASUU, Unilorin Chapter, died at the age of 75 years.

The day of tributes which was attended by leaders of ASUU from various branches across the country, was at the instance of Unilorin 49 +.

While paying glowing tributes to the deceased, Ogunyemi, said the Supreme Court’s judgment, which favoured the affected lecturers were enough for the university management to admit that it ‘‘acted wrongly and should own up to its wrong doing’’. ‘‘Professor Oduleye won all his court cases against University of Ilorin. The university should therefore see the passing away of this relentless advocate of excellence, justice and fairness in the institution as occasion for sober reflection and opportunity to mend its ways,’’ he said.

While describing the deceased as ‘‘a comrade Prof,’’ the ASUU president who presented a 96 pages ‘‘book of tributes’’ containing ever 74 entries at the occasion, said ‘‘the university owes him (late Oduleye) and his family an apology, as it also does many other victims’’ of the UNILORIN 49 + struggle.

evolve between the executive and the legislature if he is elected as Senate president and Chairman of the National Assembly.

The APC leadership has also continued to mount pressure on Ndume, to drop his interest in the presidency of the Ninth Senate.

Sources told THISDAY yesterday that some party elders met for several hours on Saturday and yesterday in Abuja with Ndume on the need for him to have a rethink about his ambition.

Ndume was said to have turned deaf ears to the pleas and insisted that he has the constitutional right to contest and will definitely run for the coveted office upon the inauguration of the Ninth Senate this month.

For the office of Deputy Senate

President, sources told THISDAY that out of the five APC Senators that have signified their intention to run for the position, Senator Ovie Omo-Agege appears to be more favoured by the party.

Other contenders who have made their intention known to the Senators-elect across party lines include returning Senators Kabiru Gaya (North West), Ajayi Boroffice (South West), Francis Alimikhena (South South) and fresh Senator and former governor of Abia state, Orji Uzor Kalu.

The APC was said to be more comfortable with Omo-Agege running as deputy Senate president and may ask other aspirants to withdraw for him.

Already, Omo-Agege is already

reaching out to both old and new Senators with a view to canvassing for their support.

Meanwhile, an outgoing Senator has said at the weekend that there is nothing wrong in President Muhammadu Buhari having interest in who leads the Ninth National Assembly.

In a related development, there were strong indications that Goje may have opted out of the Senate presidency race.

Also, the members of the House of Representatives of the APC from the South-east have asked the National Working Committee (NWC) of the ruling party to reconsider the zoning of the office of the speaker of the 9th National Assembly to the South-west in the

over all interest of justice, equity and inclusion of all zones in the governance of the country.

A former governor who is also a senator told THISDAY that since the return of Goje from the lesser hajj, it is clear that he has lost interest in the contest for the next senate presidency.

According to the former governor from the north, “Our understanding with Senator Goje before going to the lesser hajj is that when he is back from Ummra and after consultations with some officials of the President Mohammadu Buhari’s government that he will commence a full scale campaigns for his ambition, but he has returned more than a week ago

Cont’d on page 49

THE GENERALS...

President Muhammadu Buhari (right), and former Head of State Gen. Abdulsalami Abubakar (rtd.), during the Organisation of Islamic Cooperation (OIC), Summit, in Makkah, Saudi Arabia...yesterday

Again, CAN Seeks Review of Sharia Court, Nigeria’s Membership of OIC Seriki Adinoyi in Jos The Christian Association of Nigeria (CAN) has again urged the federal government to review Nigeria’s membership of the Organisation of Islamic Cooperation (OIC) and the operation of Sharia laws and Courts in the country “if our leaders are sincere with their claim that nobody is islamising the country.”

Addressing a press conference yesterday in Jos, the Plateau State capital, the National Director, Legal and Public Affairs of CAN, Mr. Kwamkur Samuel Vondip said,“CAN believes that the foundation for islamisation of Nigeria has since been laid by the makers of the Nigeria Constitution and some previous leaders of Nigeria.

“Particular examples are the provisions made in the Constitution for the operation of Sharia laws and Courts. This makes the common law and the sharia law to be operating in the

same constitution. This naturally has divided the nation into two and sets the tone for Islamisation.

The implication of this scenario is confusion.

“Furthermore, as we have said before, the registration of Nigeria, (a secular state) as a member of Organisation of Islamic Cooperation (OIC) by military fiat is a further confirmation of deliberate islamisation of the country.”

CAN also commended the position of the former President Olusegun Obasanjo in which he opened up against the planned islamisation, noting that “the former President simply repeated what many of our CAN leaders have said before. We had even taken this in written form to the Presidency for immediate attention.

“If what Obasanjo said should be doubted, what is the justification for the community cleansing by killer Fulani herdsmen who jump on innocent communities in the

night, killing them and taking over their communities?

“We never saw any far-reaching steps taken to bring these killer herdsmen to book. What is the justification for the federal government’s effort to create and maintain cattle routes or colony for Fulani herders despite their level of impunity? How can you justify the federal government’s establishment of a radio station for Fulani? Why can’t strict security measures that silenced the IPOB in few days be taken against Boko Haram and killer Fulani herdsmen?” CAN queried.

Vondip commended Obasanjo’s boldness to speak out at this critical period of the country, adding that “we wonder what will become the fate of Nigeria and Nigerians if respected and bold leaders like Obasanjo are no more there to speak.

“We call on the federal government to take seriously the alarm raised by Chief Obasanjo

and act on it if they are to be trusted. Chief Obasanjo has spoken the mind of many people and we urge that he should never be intimidated by government for the sake of peace.”

On the forthcoming election of CAN, the scribe condemned mischievous persons going around to campaign against one another in a process that is supposed to be more spiritual than carnal. “The election that is supposed to be done under solemn atmosphere is often been heated by mischief makers.”

He said that the structure of CAN as provided for in the association’s constitution is very comprehensive.

“All Christian Churches have been carefully grouped under five various blocs for ease of relationship and decision making with their roles and functions clearly stated.

All the delegates at the election or meeting of CAN at all levels are representation of the Christian groupings and blocs on equal basis.”

11

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T H I S D AY Ëž Ë&#x153; ÍąË&#x153; 2019

COMMENT

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

TAKING AGRICULTURE TO THE NEXT LEVEL

Agriculture-related policies and projects should be fast-tracked, writes Ayo Oyoze Baje

O

ne of the critical sectors of the nationâ&#x20AC;&#x2122;s economy that the President Muhammadu Buhari-led administration has made appreciable progress is agriculture. And there are empirical evidences on ground to attest to this. For instance, the Anchor Borrowers Programme (ABP) of the Central Bank of Nigeria (CBN) has made available N82billion in funding to 350,000 farmers of rice, wheat, maize, cotton, and cassava. Others include poultry, soy beans and groundnut farmers.

The recipients have so far cultivated over 400,000 hectares of land to increase food production especially in Kebbi, Niger, Kaduna, Kano, Enugu, Benue, Zamfara, Anambra and Kwara States.

Furthermore, the locally made farm produce have cumulatively enhanced our internally generated revenue (IGR) index and foreign exchange capacity to put the reserve to over $45 billion in cash and bonds even as at 2016. Whatâ&#x20AC;&#x2122;s more, the Home Grown Feeding Programme, designed to put an end to importation and market monopoly of farm produce that can be grown here in our country has started making the desired impact.

This is a pilot vehicle meant to boost sustainable economic, agricultural, academic and job creation. This is also being strengthened by the Standing Inter-Ministerial Technical Committee on Zero-Reject of Agricultural Commodities and Produce / Non-oil Exports in Nigeria as inaugurated.

Efforts at improving the standards of Nigeriaâ&#x20AC;&#x2122;s agricultural exports to align with global standards due to the rejection of our produce at the EU Border Controls are also on. It is interesting to note that as at the fourth quarter of 2016 sesame seeds contributed N6.46bn to agricultural product exports while frozen shrimps and prawns added N4.4bn to product exports. Flour and meals of soya beans contributed N2.59bn to agricultural product exports. Cashew nuts in shell contributed N0.95bn and crude palm kernel accounted for N0.62bn of the total agricultural exports.

Notable too is the Livelihood Improvement Family Enterprises (LIFE) programme initiated by the administration aimed at bringing life back to rural communities through the empowerment of youth, women and other vulnerable groups across the country. The salutary aim at the outset was to establish 150,000 cooperatives nationwide under commodity value chain groups. The spin-off effect is to operate up to 1,000 cottage industries and ultimately engage about 1,995,500 youth and 997,500 women for enhanced productivity. Eventually, the LIFE programme would add about 5,965,000 metric tonnes of foods to the national food store.

It is expedient therefore to also fast-track agriculture-related policies and projects that are already in place. For instance, the Bank of Agriculture (BOA) should be strengthened for improved delivery of services through consolidation and recapitalization in collaboration with the Bureau of Public Enterprises (BPE). This move is to ensure loan disbursement at a single digit interest regime in the agricultural sector as obtainable in developed and emerging economies.

This would be assisted by the approval of a grant of $1.1 million from the African Development Bank (AfDB) for the restructuring of the Bank of Agriculture aimed at staff training to strengthen service delivery.

THE BANK OF AGRICULTURE SHOULD BE STRENGTHENED FOR IMPROVED DELIVERY OF SERVICES THROUGH CONSOLIDATION AND RECAPITALISATION IN COLLABORATION WITH THE BUREAU OF PUBLIC ENTERPRISES

Also, an enabling act which is meant for the Ministry of Agriculture to work closely with the Nigerian University Commission and development partners to re-focus the universities of agriculture in the country should see the light of day.

So also should the proposed use of National Soil Map Data. This is based on soil types following the conduct of soil mapping/test to enhance agricultural production and productivity. Besides, the government must walk the talk on the National Irrigation Policy and Strategy.

This has been developed and focuses on the need to overcome the irrigation challenges and put available facilities in the country into effective use. Related to this is the status of infrastructure in all the 12 River Basin Development Authorities (RBDAs). There should be no delay in the effective use of the facilities for commercial farming. It is worthy of note that the administration has established a N50bn mechanization fund to facilitate the second phase of Agricultural Equipment Hiring Enterprise (AEHE) to roll-out 6,000 tractors and 13,000 harvest and post-harvest equipment units across the country.

Partnerships are important in driving the engine of growth in the food sector. The government has established 40 large scale rice processing plants and 18 High Quality Cassava Flour (HQCGF) plants with a stake commitment of China EXIM (85 per cent) and Nigeria Bank of Industry (BoI) (15 per cent). This came through concessional credit facilities of US$383,140,375.60 for the rice mills and US$143,722,202.40 for the HQCF plants.

This move will stabilize Nigeriaâ&#x20AC;&#x2122;s milled rice production which has increased by about 60 percent from 2.5 million MT in 2015, to 4 million MT in 2017 under the President Buhari administration. With the Lake Rice Project between Lagos and Kebbi States and the coming on stream of one of the largest rice mill projects in West Africa, as initiated in Lagos, there is hope for growth in the sector.

More than 7 million Nigerians are actively employed in agriculture under the Buhari governmentâ&#x20AC;&#x2122;s diversification agenda and the Ministry of Agriculture is working to ensure that agriculture will offer 20 million jobs in the nearest future. This paradigm will be upped with the setting up of the Presidential Fertilizer Initiative (PFI) to deliver commercially significant quantities of affordable and high quality fertilizer to the Nigerian farmer at the right time. This has resulted in the revitalization of 14 blending plants across the country, with a total installed capacity in excess of 2 million MT. To succeed, this administration must halt the incessant clashes between the herders and the crop farmers. The provision of 55,000 hectares of land by 11 states as part of the 5,000 hectares each expected from the 19 northern states for the development of pasture/paddocks grazing reserves should be driven to fruition.

With the second term evolving, no effort should be spared to draw more job-seeking youth to attractive agricultural policies. Research institutes should be adequately funded. Their findings should be commercialized through partnerships with the private sector.

Expectations are high that the gains made so far would not only be sustained but upgraded with modern technology in the areas of processing, preservation, marketing and export to take agriculture to the next level.

Baje wrote from Lagos

AN AGENDA FOR GODWIN EMEFIELE

Boniface Chizea writes that the CBN governor should pay attention to development of the economy

C

ongratulations are in order even as the momentous event of your being appointed to a second term as the Governor of the Central Bank of Nigeria is almost becoming a fading

memory.

What I intend to do in this presentation is to draw your attention to some issues that must engage your attention, not because you are not aware but it helps and it reassures when knowledgeable minds think alike.

In the first place you must fully arm yourself with the amour of confidence. No one quarrels with success and one does not necessarily change a winning formula.

You must pay scant attention to those who come with the preachment of orthodox text book economics which as far I am concerned are generalized prescriptions to be adapted and applied advisedly as it aligns with the prevalent situation in hand.

The ultimate decider for you is what works and what will work in our particular circumstance. For instance, as part of the mandate of the Central Bank of Nigeria, it has been included the need to pay attention to matters relating to the development of the economy. This specific mandate might be missing in the mandate of monetary authorities in other climes and therefore you should pay careful attention to what the multilateral financial institutions say while discounting the complaint that you are now dabbling into aspects that should engage primarily the attention of fiscal authorities. You must proceed as you keep your counsel to decide what you think is in the best interest of Nigeria. Afterwards it remains a fact that no multilateral financial institutions on its own could have caused a renewal of your mandate but the fact that God is on your side to achieve the results we

now celebrate.

Certainly from where I stand there might be issues which we should try to address as we move on some of which exist because of the exigencies of our particular situation and which expectedly should be resolved as circumstances improve. The question of multiple exchange rates will be one. But recently you were quoted as saying that we do not have multiple exchange rates in the country. I am not in the picture regarding whether you said so or if you did the rationale which underpinned such an observation. The fact remains that we have more than one exchange rate in the economy pertaining to the various windows in existence. It is trite to observe that what actually differentiates the windows is essentially the fact of their different rates coupled majorly with the particular source of funding for each window. But this is a matter to be addressed opportunely with an eye on the need not to upset the apple cart of macroeconomic stability which we are now enjoying.

There is the feeling that because you came from the banking system that you are overly protective of banks.

But my take is that you have a right to ensure that the banks operate profitably otherwise the financial system will not be vibrant and robust and as major actors; that would undermine the pursuit of healthy financial system able to discharge its critical function of financial intermediation. The Monetary Policy Committee has already commenced the process by asking for prudential limits to be determined for the banks as they warehouse their funds in gilt-edge government securities. This is like giving a kick on the butt of the banks to rise to the challenge of extending badly needed credit to the real sectors of the economy which has the potential to jumpstart growth and catalyze employment opportuni-

ties.

The banks should also be encouraged in their best interest to try and embrace the concept of shared services wherever possible as a means of gaining operating costs advantage and as much as possible leverage on cutting edge advancement in technology to impact positively on the quality of service for which there is a consensus that we have witnessed over the years across the board improvement. Therefore services have improved and this is just therefore to draw the attention of the banks not to make the mistake of resting on their oars.

It might be time to revisit the bank tariffs to accommodate some of the strident complaints which have been made by bank customers. For instance customers have been heard to question the meaning of account maintenance fee to which VAT charges are also added.

Attention must be paid to financial inclusion which as at 2016 stood at 58.4% or 96.4 million adult population as those who have access to financial services. This leaves a yawning gap which has the potential to blunt the effectiveness of monetary policy as that underscores the limit of the reach of policy as monies outside the formal system cannot be targeted. It might be time to revisit such other programmes which take banking services conveniently closer to the customer. In this regard one is reminded of programmes such as mobile banking and agency banking. It will be good to put on the thinking cap to ascertain what will make such programmes more effective, possibly any other measures that would make banking services more convenient and therefore more attractive to the bank customer. The opportunity embedded in financial technology in this respect must be optimized.

It is also necessary that attention is not taken away from some of the success stories of your administration.

One of such programmes that immediately come to mind is the Anchor Borrowersâ&#x20AC;&#x2122; programme. It has been reported that players under the scheme are now being assailed with a deluge of imported rice as a result the commensurate level of demand is lacking. It might be time to think outside the box to see how this menace will be frontally tackled. Why should imported rice be cheaper than home grown one for instance? So there is the need to ascertain what the problem really is so that strategies could be put in place to ameliorate the situation. The fact that the Anchor Borrowersâ&#x20AC;&#x2122; concept is being extended to other products would seem not to be generally known. There is the need for further enlightenment in this regard.

There are many special funds that have been provided over the years. Why have they not been impactful? There is an urgent need for this question to be answered for effective road map forward.

The need for cooperation and meeting of minds between the fiscal and monetary authorities need not be over emphasized as it goes without saying that monetary policies are effective to the extent that there is the needed complementarity with fiscal policies. We admire your recent foray as you are beginning to reach out to centres of excellence in the country to share your message with them. Considering the highly charged environment in which you operated during your first term, it is understandable that you were not quite able to do so. But that is the way forward and therefore we recommend that you stay the course. We pray that the years ahead will be better than the past ones and that you are able to write your name boldly in gold as you bequeath lasting legacies to the greater benefit of the Nigerian economy.

Dr. Chizea wrote from Lagos

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T H I S D AY MONDAY, JUNE 3, 2019

EDITORIAL The Apapa Port Emergency The Presidential task force should ensure sanity prevails at the ports

A

ccess to the nation’s premium port has remained paralysed for as long as anyone cares to remember.

But there was some sense of relief last week as the protracted traffic gridlock eased off considerably thanks to a recent presidential order for the removal of all impediments to free flow of traffic around the Apapa port and environs.

Headed by Vice-President Yemi Osinbajo, the task force is working to develop an efficient and effective management plan for the entire port area traffic including cargo, fuel distribution, and business district traffic. In addition, the task force would ensure the permanent removal of all stationary trucks on the highway, and the development of a manual truck call-up system, pending the introduction of the electronic truck call-up system.

For effectiveness, the Lagos State Traffic Management Agency (LASTMA) was made the arrowhead of the fresh offensive to decongest the roads while the Nigerian Ports Authority (NPA) has THE ROAD REPAIRS AND converted the Lilypond THE DECONGESTION Container Terminal, a SHOULD BE TREATED dry port with capacity for over 1000 trailers, AS CLEAR NATIONAL EMERGENCIES REQUIRING as a transit park.

THE MOBILISATION OF ALL “We acknowledge the enormity of the KNOWN INSTITUTIONAL RESOURCES TO RESTORE assignment of the task force, and we are SANITY IN AND AROUND committed to resolving THE PORTS this issue in line with the presidential directive”, said Dr Jumoke Oduwole, SSA to the president on industry, trade and investment.

Indeed, the impact within the first few days was instantaneous as the sense of crisis receded remarkably.

The cratered Oshodi-Apapa Expressway as well as Ikorodu Road up to Western Avenue reportedly was cleared of many of the articulated trucks and tankers. But that seemed the best for now. The bridges adjacent to the ports were yet to feel the full impact as trucks parked on them still constituted considerable menace to the free flow

Letters to the Editor

of traffic.

For more than a decade, the Apapa gridlock has defied solution. The access roads to the nation’s seaports –Tincan and Apapa- were in deplorable state and abandoned.

Thus for years, the Oshodi-Apapa dual expressway was paralysed by container-bearing trucks, trailers and petroleum tankers whose drivers paid scant attention to environmental regulations. With no holding bay for trucks and tankers, the drivers were forced to park and queue not only on the access roads but any space available in Apapa.

As a result, millions of containers laden with cargoes were often stranded at the port complex due largely to the inability of importers to evacuate them.

B T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR DAVIDSON IRIEKPEN MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE

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

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

A WORK PLAN FOR BAUCHI STATE GOVERNOR

I

n politics, there is more to success than winning election.

This is especially so given that the aim of representative democracy, of which politics is a bastion, is to ensure good governance. Therefore, the winner of an election can only celebrate success the moment he is able to provide quality leadership. Hence, the first concerns of a politician upon getting to power should be to establish a government that can effectively and efficiently administer public trust.

This should be the first concern of Governor Bala Muhammed of Bauchi State. He is expected to constitute a team of highly qualified and competent persons who are committed to nation-building.

Persons of integrity and competence who have vast knowledge in government and the society should be considered appropriate for appointment as aides and as members of the state executive council.

And for the civil service, the new governor must understand that especially in the last four years, the institution has suffered neglect that has brought about indiscipline in the service. While reinvigorating it is imminent, politics must not be played in the exercise. Being the engine room of government, whatever it takes to protect its sanctity should be done for the mere fact that its level of effectiveness is directly proportional to the extent to which government can implement its policies and programmes.

With a formidable executive council and an effective civil service, Governor Bala Mohammed will be able to change the socio-economic and political narratives in the state. The situation on ground is critical and so critical approach must be adopted to get out of it. Hence, the new governor can consider as his first assignment to complete projects started by his predecessor. This is

ut the logjam was not only a national embarrassment; it was a serious threat to national security, the economy, health and the environment. The impossible traffic condition saw to the crippling of commercial and industrial activities in Apapa and environs while the cost goods from the ports rose astronomically as a result of the difficulties in getting them out. Besides, the hours spent on traffic on a daily basis impacted negatively on health and productivity of many commuters.

The years were particularly disturbing because there was no sustained effort to tackle the menace on the gateway to the country’s economy. Ad hoc measures occasionally conjured up failed to resolve the crisis. Even the rehabilitation of the two-kilometre Wharf Road by NPA, Dangote Industries and others could not instil order to the chaotic traffic. A government seriously in need of cash deliberately had allowed the revenue potential of the Lagos ports – one of the busiest in Africa – to be imperilled.

Thus the challenge before the task force is first to get its logistics and management right to ensure the effort is sustainable. Trucks and tankers’ drivers must be beaten into line. Both the road repairs and the decongestion of the port should be treated as clear national emergencies requiring the mobilisation of all known institutional resources to restore sanity in and around the ports.

Everything must be put in to prevent a return to chaos.

not because he has no other initiatives that have direct bearing on the common man, but because government is a continuum.

More so, in the uncompleted projects lay billions of naira rendered dormant. And unless the projects are completed, the state will continue to bear the harsh consequences of project mismanagement as exhibited by the immediate past administration. Thereafter, the governor can look at the critical sectors of health, education, agriculture and industries to top his priority list. This is given the fact that no meaningful development can be attained in any society without health infrastructure to facilitate quality healthcare delivery.

And just as access to quality healthcare is significant to the socioeconomic prosperity of a people, so is education. The future of a people solely depends on how they nurture their youth. The youth forms the backbone and vanguard of the society and therefore, government must invest in education to assure the future. On this, the Kaura administration should holistically overhaul the education sector. Education should be adequately funded; teachers should be routinely trained and retrained and all necessary requirements for effective learning by students should be met.

While quality education assures the future, food sufficiency not only deals with the problems of malnutrition but also brings economic growth. There is therefore every reason for the present government in Bauchi State to work hard towards promoting agricultural activities. Even if it will not invest money into the sector, it can consider providing an enabling environment for agripreneurs to gainfully cultivate crops and rear animals for the use of man. Agricultural tools and implements, fertiliser as well as chemicals should be made accessible and affordable to farmers.

Mukhtar Jarmajo, Abuja

NIGERIA AT A CROSSROADS

I

t has become a waste of time to speak the truth to power these days. This is not only because those at the corridor of power use such opportunities to take jabs at the messengers and reduce the message to political rhetoric, large number of the led are victims of poor quality mental refinement.

Those at the corridor of power take advantage of the poor thought process of the majority of the citizens to feed them with lies, spread propaganda and heartlessly abuse the state of poverty many Nigerians have been put into. Despite these anomalies, those of us that have chosen to speak truth to power will not relent for posterity sake – for the coming generations to look back and see our contributions to national development.

In a country where there is ethnic diversity like Nigeria, the need to promote equity and justice in the running of the country cannot be overemphasised. The attempt to exclude the South-eastern and the South-south in key positions distribution is uncalled for. Commonsensically, the Eastern Region should produce the Senate President, the South-south should produce the Speaker of the House of Representatives, Deputy Senate President can go to any state in the Northern Region while the Deputy Speaker position can come to the Southwest Region to avoid power lopsidedness at the detriment of other resourceful regions. If the All Progressives Congress (APC) should go ahead with its sharing formula for the presiding officers of the National Assembly, they will only be creating more problems that will threaten national unity. Again, for 2023 sake, the south will overzealously and ignorantly hand power to the north if they do not retrace their steps. It is time we called a spade a spade. The need to include the Southeast and South-south in the sharing formula of the national offices is as important as the unity of this country. Similarly, this will put the south in a better position to clinch power come 2023. Twenty-twenty three must be for Southeast Presidency. Nigeria belongs to all of us. The Southeast has paid enough price. They deserve our collective support.

Adewale Qudus Lawal, alaniadewale@yahoo.com

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Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

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

A Tale of Two SigniďŹ cant Dates Victor Ogunje, John Shiklam and Hammed Shittu write that the signiďŹ cance of May 29 and June 12 in Nigeriaâ&#x20AC;&#x2122;s political history cannot be misunderstood, as each date carries its robust character

Abiola

Buhari

T

he botched June 12, 1993 presidential election has become one of the most epochal political events in Nigeria. The event has vestiges that are difficult to erase, owing to its relevance and significance.

June 12 was the day the country assumedly had the freest and fairest election that produced, Chief MKO Abiola as winner. Incidentally, Abiola was neither declared winner nor sworn in by military oligarchy which annulled the election for inexplicable reasons.

Since the annulment and the eventual demise of the presumed winner of the poll, agitation was intensified on different fronts to ensure that the martyr of the struggle was remembered.

Some pundits have consistently opined that June 12 should be recognised as Democracy Day. Governors from the South-west under the defunct Action Congress of Nigeria (ACN) took the lead by declaring June 12 as Democracy Day instead of May 29.

Some said that Abiola, one of the major casualties and others who fell to military bullets should be immortalized.

The first time the June 12 was accorded recognition on a national platform was under President Goodluck Jonathan when he sought to name the University of Lagos after the late politician (Abiola).

As lofty as this step was, some activists conspiring with their allies in the political circle shot it down, describing the action as too provincial to compensate for Abiolaâ&#x20AC;&#x2122;s life and struggles.

Most vociferous among the critics of the Jonathan gesture was the fiery Lagos Lawyer, Mr. Femi Falana (SAN).

In his submission, Falana argued that immortalizing Abiola with a monument

QUICK FACTS: r0O +VOF UIF GFEFSBM government declared June 12 as the new Democracy Day. Before the declaration, the senate had passed the Public Holiday Act Amendment Bill to recognize June 12 as the countryâ&#x20AC;&#x2122;s Democracy Day r5IPVHI B GFX MBXNBLFST QSPtested the change in date of Democracy Day, it was however, approved

Saraki

located within the South-west, where the late businessman came from would make him look like a sectional and regional leader, rather than national.

In fact, President Muhammadu Buhariâ&#x20AC;&#x2122;s insistence on making June 12 the Democracy Day and time for him to perform ceremony inaugurating him into his office for his second term, had attracted wide applause.

With the new arrangement, June 12 becomes a Public Holiday to celebrate the ethos of democracy, replacing May 29, which previously held that status.

Because of the enthusiasm and ecstasy the action elicited across the regions, political divides and religious inclinations, people tended to pay less attentions to the constitutionality of the action.

As exhilarating and worthwhile as Buhariâ&#x20AC;&#x2122;s approach to end the June 12 brouhaha is, the opposition Peoples Democratic Party (PDP) believes that he was only playing to the gallery by circumventing the constitution to earn political relevance.

On June 6, 2018, the federal government declared June 12 as the new Democracy Day. Before the declaration, the senate had passed the Public Holiday Act Amendment Bill to recognize June 12 as the countryâ&#x20AC;&#x2122;s Democracy Day. Though a few lawmakers protested the change in date of Democracy Day, it was however, approved after majority of the lawmakers supported passage of the bill.

President Buhari has since assented to the bill, thus giving legal muscle to it. Despite the declaration of June 12 as Democracy Day, May 29, which hitherto was celebrated as Democracy Day, still remains the day for the swearing-in

of the elected president and state governors.

Expectedly, mixed reactions have continued to trail the federal governmentâ&#x20AC;&#x2122;s decision to switch Democracy Day from May 29 to June 12.

Speaking on the legal implication of the change in the date to celebrate democracy day, the Chairman, Nigeria Bar Association, Ado Ekiti Branch, Mr. Samuel Falade, clarified that while the handing over formalities took place on May 29, June 12 would only be ceremonial.

According to Falade, President Buhari breached no law by changing the date since both the Upper and the Lower Chambers of the National Assembly had endorsed the proposal.

He said, â&#x20AC;&#x153;Since the Senate and the House of Representatives have passed the Bill seeking to change the date into law, there is no infraction. â&#x20AC;&#x153;But if the president had done contrary to that, there will be issues, because May 29 was made through the Act of Parliament and it will take another parliamentary action to shift the date and to also validate and legalize the new date.â&#x20AC;?

Aligning with the position that due process had been followed former, NBA Chairman, Ikere Ekiti Branch, Mr. Bunmi Olugbade, maintained that President Buhari had not breached the statute since he was in concurrence with the National Assembly on the matter.

He said there would have been a breach if the President had unilaterally shifted the inauguration date to June 12 without the input of the National Assembly.

The former NBA boss averred that going by this arrangement, the handing over was done on May 29 while the

after majority of the lawmakers supported passage of the bill r5IF CPUDIFE +VOF QSFTJdential election has become one of the most epochal political events in Nigeria r+VOF XBT UIF EBZ UIF DPVOUSZ assumedly had the freest and fairest election that produced, Chief MKO Abiola as winner. Incidentally, Abiola was neither declared winner nor sworn in by military oligarchy which annulled the election for

inexplicable reasons r4PNF QVOEJUT IBWF DPOTJTUFOUMZ opined that June 12 should be recognised as Democracy Day. Governors from the South-west under the defunct Action Congress of Nigeria (ACN) took the lead by declaring June 12 as Democracy Day instead of May 29 r5IF GJSTU UJNF UIF +VOF XBT accorded recognition on a national platform was under President Goodluck Jonathan when he sought to

ceremony will be performed on June 12, which he said was in line with the law. â&#x20AC;&#x153;Going by the constitution, any national day that would attract proclamation of holidays should be made by an Act of Parliament. â&#x20AC;&#x153;Since the June 12 would now require the federal government declaring public holiday, then both the executive and the legislature must play their roles. â&#x20AC;&#x153;Donâ&#x20AC;&#x2122;t forget that President Buhari began the process in 2018 and he said the proposal will take effect from 2919. â&#x20AC;&#x153;Just recently, the two chambers of the National Assembly adopted the day as Democracy Day, which signaled that both the legislature and executive are in concurrence. â&#x20AC;&#x153;President Buhari had satisfied the provisions of the law and due process had been complied with,â&#x20AC;? he said.

The chieftain of Peoples Democratic Party (PDP) described the move to honour Abiola as a step in the right direction. â&#x20AC;&#x153;Abiola is regarded as our political Messiah. He is honoured for his role of being in the vanguard of the struggle for the emergence of the current political dispensation. You know what it cost for a person to have the country to have democracy. â&#x20AC;&#x153;This is not about political party, but about what you can do, you have to give honour to whoever deserves.â&#x20AC;?

For his part, the Secretary General of the Arewa Consultative Forum (ACF), Mr. Anthony Sani applauded the recognition of June 12 as Democracy Day. â&#x20AC;?I do not understand the basis of the controversies on the current status of May 29 for inauguration in the year of elections and the current status of June 12 as Democracy Day,â&#x20AC;? he said.

According to him, no national event name the University of Lagos after the late politician (Abiola) r"T MPGUZ BT UIJT TUFQ XBT TPNF activists conspiring with their allies in the political circle shot it down, describing the action as too provincial to compensate for Abiolaâ&#x20AC;&#x2122;s life and struggles r8JUI UIF OFX BSSBOHFNFOU +VOF 12 becomes a Public Holiday to celebrate the ethos of democracy, replacing May 29, which previously held that status

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MONDAY DISCOURSE

Falana

had threatened the corporate existence of Nigeria and inspired mistrust among Nigerians-after the civil war- like the annulment of the election conducted on June 12, 1993. â&#x20AC;&#x153;And if the recognition of the (presumed) winner and commemoration of June 12 would bring about some level of national healing and contribute to strengthening the unity of the nation, then there can be no cavil with the significance of legalization of the day in honor of the winner and commemoration of same,â&#x20AC;? Sani said.

He explained that since the tenure of the President and governors end on May 29, by the constitutional provision, â&#x20AC;&#x153;there is no way the swearing-in of the President could be shifted to June 12, since doing so would mean the president will exceed his constitutionally allowed four year tenure.â&#x20AC;&#x153; Continuing he said, â&#x20AC;&#x153;That is why the swearing-in and inauguration must take place on May 29. June 12th is now a National Day as enacted by the NASS and will be celebrated as such. â&#x20AC;&#x153;The decision to shift the ceremony meant for the inauguration to June 12 is that of the government and does not affect the legal status of both May 29 inauguration as and when due and that of June 12 of every year as Democracy Day.â&#x20AC;?

Also speaking, a Kaduna-based legal luminary, Maxwell Kyon, said the whole concept of having separate inauguration and Democracy Day is an unnecessary duplication and waste of time and resources.

He said, â&#x20AC;&#x153;It is very strange for us to have a day as Democracy Day and another day for swearing in. â&#x20AC;?I think this is unnecessary duplicity. I know that a lot of people have emotional attachment to June 12. It makes a lot of sense because Nigerians tend to agree that for the first time in our history, we came out as one on June 12, 1993, and voted in an election that we believed was the freest, fairest and most credible election in the country.â&#x20AC;?

He said in spite of the fact that the military annulled the election, people still feel some level of attachment to it. â&#x20AC;?My take is this; of course it will be a bid problematic for us to have a situation where a President is sworn in on May 29, while we wait for June 12. If we feel that there is a fundamental need for us to have a complete change in terms of the day, the President is sworn-in or what day should be Democracy Day, we should be able to decide on a day that both events could be held. Instead of swearing-in the President on May 29 and celebrating Democracy on June 12. This is unnecessary. â&#x20AC;?If the consensus is that June 12, considering its place in our history, it is more apt to be our Democracy Day, we could simply amend the constitution and select a day that we swear in the President and celebrate Democracy Day at the same time.

Jonathan

I think that will make more sense than for us to have swearing in on May 29 and celebrating Democracy Day on June 12. This is highly unnecessary,â&#x20AC;?

Kyon said.

Also reacting on the issue, a chieftain of the Peoples Democratic Party, Mr. Danjuma Sarki,,said despite the importance June 12 in the political history of the country, May 29, was the actual Democracy Day. â&#x20AC;&#x153;If you look at it critically, May 29, was actually the day which our democracy in Nigeria came to be. So on that basis, you could say May 29, is actually the Democracy Day because that is the day our democracy gained ground,â&#x20AC;? he said.

He added, â&#x20AC;&#x153;June 12, for me, was the struggle for Nigeria to return to democracy. The struggle originated from the annulment of the June 12, 1993 Presidential election, where free, fair and credible election was conducted, but the mandate was annulled by the

Though a few lawmakers protested the change in date of Democracy Day, it was however, approved after majority of the lawmakers supported passage of the bill.

President Buhari has since assented to the bill, thus giving legal muscle to it. Despite the declaration of June 12 as Democracy Day, May 29, which hitherto was celebrated as Democracy Day, still remains the day for the swearingin of the elected president and state governors.Expectedly, mixed reactions have continued to trail the federal governmentâ&#x20AC;&#x2122;s decision to switch Democracy Day from May 29 to June 12

Sani

military. â&#x20AC;?Significantly, you can say May 29 is Democracy Day not June 12. For the government to relegate May 29 and uplift June 12 above it, I think that is not a fair decision. I acknowledge that June 12 also very important in our political history, but I suggest that they should look for another name for it other than making it as Democracy Day. Whichever angle you look at it, Abiola deserves to be honoured.â&#x20AC;&#x2122;â&#x20AC;&#x2122; Conversely, an Ilorin-based lawyer, Mr. Salman Jawondo said it would have been illegal to swear in Mr. President on June 12 instead of May 29, as according to him, the President would definitely exceed his tenure of four years by 13 days.

He said, â&#x20AC;&#x153;the tenure of four years of Mr. President ended on May 29 and it was right to swear him in on that day for second term in line with the legal and constitutional provision of the law and not on June 12. â&#x20AC;&#x153;May 29 is a real Democracy Day, while June 12 is a day of election that was won by late Chief M. K. O Abiola, but was annulled by the military president, General Ibrahim Babangida. â&#x20AC;&#x153;The two dates are different from each other and should not be misconstrued. I believe that Mr. President should initiate a bill to amend the new date for the swearing so that it can conform with the laws of the nation.â&#x20AC;&#x2122;â&#x20AC;&#x2122; Another lawyer, Mr. Segun Olawoyin corroborated Jawondo, decrying that having official activities on both dates was capable of causing a constitutional breach in the country. He said, â&#x20AC;&#x153;It was right to swear in President Muhammadu Buhari on May 29 and not on June 12 because he signed on May 29 to become president of Nigeria and this is a contract he must abide with it.â&#x20AC;?

Also commenting on the issue, a stalwart of All Progressives Congress (APC) in the state, Hon. Kayode-Oyin Zubair said, â&#x20AC;&#x153;May 29 ab initio is not our Democracy Day but a day when a military junta under intense pressure decided to yield to the yearnings of Nigerians by transferring power to democratically elected representatives.â&#x20AC;? â&#x20AC;&#x153;I think systematically and gradually too Nigerians will be weaned from military hang over. May 29 has no significant place in our democracy, other than being a day we transited from a military junta to a democratically elected government. â&#x20AC;&#x153;However, we canâ&#x20AC;&#x2122;t have two democracy days, because of that, we can continue to observe May 29 as a public holiday to remind us that we were once ruled by the barrack boys. â&#x20AC;&#x153;In every sense June 12 is significant and historic - the election held on that day is still the freest and most credible in the annals of this country. It is not just about the undeclared winner of the June 12 1993 presidential election believed widely to be Chief M. K. O. Abiola but our collective resolve as a people to

be ruled by our own representatives. â&#x20AC;&#x153;The constitution handed to us by the military is full of inconsistencies that are due for review to meet modern day realities. The constitution must reflect what Nigerians really want.â&#x20AC;? â&#x20AC;&#x153;The president can find appropriate name for what the military bequeathed Nigerians after many years of sojourn in power.

Another APC faithful in Kwara North Senatorial District, Alhaji Mohammad Kudu Muhammad also weighed in on the matter, advising Nigerians against mixing up the issue of May 29 inauguration day with June 12 Democracy Day. He said, â&#x20AC;&#x153;President Muhammadu Buhari in his pragmatic approach to issues has only hearkened and acted to aspirations and callings of generality of Nigerian that June 12 being a watershed in our democracy should not be swept under the carpet. â&#x20AC;&#x153;This is because it means well for our nationâ&#x20AC;&#x2122;s political and democratic life.

Therefore, that is why the president has recognized it so. This means that this year inauguration of elected leaders was done on May 29 and the main ceremony will be on June 12. â&#x20AC;&#x153;Should everything be shifted to June 12, it would mean a lacuna would be created. This should not happen so as not to create constitutional problems. The inauguration of President Muhammadu Buhari was done on May 29 but the actual celebration will be on June 12.â&#x20AC;&#x2122;â&#x20AC;&#x2122; However, the National Publicity Secretary of the PDP, Mr. Kola Ologbodiyan derided the President Muhammadu Buhari Presidency and the All Progressives Congress (APC) for thinking that moving major events of its planned Presidential inauguration from May 29 to June 12, the Democracy Day, can confer any form of legitimacy to the outcome of the alleged rigged 2019 Presidential election.

According to Ologbodiyan, â&#x20AC;&#x153;It is clear that the Buhari Presidency and the APC, being tormented by the guilt of violating our electoral processes, can no longer boldly approach the oath book on May 29, due to the burden of illegitimacy and now seeks refuge in the sanctity of June 12, our Democracy Day. The Buhari Presidency and the APC from our recent history have demonstrated that they totally averse to democracy.

They should therefore steer clear of our Democracy Day, having violated all our democratic ethos in manipulating the Presidential elections and upturning the mandate of the people; the same injustice which Chief MKO Abiola, the symbol of June 12, fought and died for.â&#x20AC;?

The PDP spokesman said his party rejects this absurd desperation by the Buhari Presidency and the APC to overshadow the import of our Democracy Day and stifle the quest by Nigerians to vent their anger against the democratic violations of the APC administration in the last four years.

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08152252325

When Tradition Clashed with Technology

Peter Uzoho writes that the recent installation of Iyalojaand Babaloja at Computer Village, an ICT hub in Ikeja, Lagos, by the President-General of Association of Commodity Market Women and Men of Nigeria, almost led to an uprising by the traders who protested the intrusion of tradition in a technological hub

The Computer Village

L

ast month, traders at the popular Computer Village, an ICT hub in Ikeja, Lagos, had staged a protest against the installation of Iyaloja, a female title meaning â&#x20AC;&#x2DC;Mother of the Marketâ&#x20AC;&#x2122; and Babaloja, an equivalent male title, meaning â&#x20AC;&#x2DC;Father of the Marketâ&#x20AC;&#x2122;, who is also functionally a subordinate of the Iyaloja. The duo are traditional leadership titles found in markets in South-west Nigeria.

Computer Village on the other hand is a popular Information and Communication Technology (ICT) hub in Lagos where computer hardware and software, GSM phones, allied gadgets and accessories, as well as associated maintenance services are sold and bought.

The Protest On that fateful Tuesday, upon hearing of such planned installation by the President-General of Association of Commodity Market Women and Men of Nigeria, Mrs. Folashade Tinubu-Ojo, the traders shut their shops and went out in their numbers for the protest, chanting solidary songs.

They were seen displaying placards bearing varied inscriptions such as â&#x20AC;&#x153;we are not slaves in Computer Villageâ&#x20AC;&#x2122;, â&#x20AC;&#x2DC;we say no to oppression in Computer Villageâ&#x20AC;&#x2122;, â&#x20AC;&#x2DC;Computer Village is a symbol of ICT in Africa, not a symbol of pepper sellingâ&#x20AC;&#x2122;, among others.

They took their protest to various relevant authorities in the state, including the Speaker of the Lagos State House of Assembly, Hon. Modashiru Obasan and the then governor, Akinwunmi Ambode.

The aggrieved traders said they did not want Iyaloja and Babaloja in the commercial centre, saying such authority was alien to them. They also argued that they already had a union called Computer and Allied Product Dealers Association of Nigeria (CAPDAN), with functional executive members who run the affairs of the market, and a such had no need for such traditional stool in the hub.

The angry traders also stressed that Computer Village is an international ICT hub where both local and foreign nationals do their businesses, noting that the traditional concept would only localise the hub and reduce its global status.

The traders, who shut their shops and paralysed

Tinubu-Ojo activities at the market for hours, said those who they understood were to be appointed as Iyaloja and Babaloja were never part of them as they have no shop in the market. They vowed to resist such alleged imposition by Tinubu-Ojo, adding that the said appointees in waiting had no place in computer village as leaders.

They said installing Babaloja and Iyaloja in computer village would lead to extortion and collection of illegal levies from the traders by arear boys that would be sent to the market by the leaders. They also argued that by having Iyaloja and Babaloja, strange faces and fraudsters would begin to infiltrate the currently orderly market, thus causing trouble for the traders.

One of the traders in the market, Nnamdi Ude, who deals on computer hardware said: â&#x20AC;&#x153;We donâ&#x20AC;&#x2122;t want Iyaloja and Babaloja here, they are of no benefit to us. They should go to those markets where they sell food items and things like that. They know what they want to achieve.

Small time now we will be having strange faces in this market. The so-called Iyaloja and Babaloja will be sitting in the comfort of their rooms and be dispatching their boys to be going around the market and be collecting illegal levies from us. We are saying no to that. â&#x20AC;&#x153;We will have more of touts in the market harassing traders and customers. And if you have to install somebody to lead a people you need to consult them, tell them the need for that. And you need to make sure that person you want to install is a member of the people you want him or her to lead and not just go somewhere and bring someone and impose him on the people. That is not fair. â&#x20AC;&#x153;So as far as we are concerned we donâ&#x20AC;&#x2122;t know those guys. They donâ&#x20AC;&#x2122;t own shops here, they are not business people here. Of what value are they coming to add to this market? People who donâ&#x20AC;&#x2122;t know anything about the business we are doing here, they know nothing about ICT, how

will they be able to protect our interest? We donâ&#x20AC;&#x2122;t need them. They said they have installed them, we are just waiting to see what they will do hereâ&#x20AC;?.

Another trader in the market, Deji Olawale, who sells GSM phones, acknowledged that the Iyaloja title is a tradition in Yoruba land but that it is not applicable to all markets.

While stating that Computer Village is not just a market but an international ICT centre, he said, â&#x20AC;&#x153;letâ&#x20AC;&#x2122;s not bring politics into this market and allow it flourish for the growth of our economy. I agree it is our tradition. I canâ&#x20AC;&#x2122;t resist our tradition.

But how does Iyaloja exist when we already have our union and our executives here? And sometimes, technology is bigger than culture and tradition. After all who has tradition and culture helped? â&#x20AC;&#x153;In Computer Village, we are all brothers in business and all we want is how we will take our business to the next level. Tradition cannot help us to achieve that but with technology you can easily achieve that. This is not a place for politics, so anybody that wants to do politics should look elsewhere. As far as we are concerned Babaloja and Iyaloja do not have a place here.

This place does not suit them. We have highly enlightened and well-travelled people doing business here. So we are not here for ethnic and tribe-driven power tussle, we are here for businessâ&#x20AC;?.

Another trader in the market, Chijioke Nwosu said: â&#x20AC;&#x153;I just saw their pictures on the banner, there has not been any official briefing from our association (CAPDAN) telling us to recognise them. Whoever did the installation did it for herself and not for us. What is their primary duty as this market is concerned. We have refused to be taken back. They want to take us back by this local stool that is alien and strange to us in this hub. â&#x20AC;&#x153;This is an international ICT hub, it is not a local market. We donâ&#x20AC;&#x2122;t sell pepper and onion here that will warrant someone to enthrone Iyaloja here. How will having Iyaloja affect the businessman here positively?â&#x20AC;?

Tinubu-Ojo Reacts Apparently worried by such protest, Tinubu-Ojo called a press conference the next day, being

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FEATURES Wednesday, where she swiftly faulted the tradersâ&#x20AC;&#x2122; protest, describing it as ill-informed.

She claimed that as the leader of all commodities traders, she had the power to appoint leaders for any market, including the Computer Village. She denied imposing leaders on the traders, saying she only endorsed those chosen by stakeholders in the market.

Tinubu-Ojo equally alleged that some officials of the Computer Dealers and Allied Products Association of Nigeria (CAPDAN), whose tenure she said had expired, were behind the protests.

According to her, the objective of the sponsors of the protests was to perpetuate themselves in power.

Determined to stamp her authority on the issue amid the raging protest by the traders, on Thursday, a day after the press briefing, TinubuOjo who is also known as the Iyaloja-General of Nigeria, went ahead and installed one Mr. Adeniyi Olasoji and Mrs. Abisola Azeez as Babaloja and Iyaloja of the market respectively.

Addressing journalists at the event, she stated that the aggrieved CAPDAN officials had visited her on issues relating to the installation of the new market leaders. She said: â&#x20AC;&#x153;I donâ&#x20AC;&#x2122;t have any issue with them (protesters); they have been here. They came yesterday after I addressed the press and they related their position. â&#x20AC;&#x153;In fact, the former President of CAPDAN, Mr. AdeniyiOjikutu came this morning. We talked at length and the next thing for us is to call another meeting. I donâ&#x20AC;&#x2122;t have issues with them. The only thing was that they should have come here instead of carrying placards when they got the information that there was going to be installation. They should have come to have a chat with me and perhaps, we might have ironed out issues and understood each other. â&#x20AC;&#x153;Disagreements are bound to happen. There is no way we wonâ&#x20AC;&#x2122;t step on each otherâ&#x20AC;&#x2122;s toes in offices, markets and so on; but the ability to manage the crisis is what matters, which is the next line of action. I have even told the Iyaloja and Babaloja I installed today that we are still going to revisit the issues with the other people at a roundtable.â&#x20AC;?

CAPDAN BrieďŹ ng Meanwhile, in a char with this reporter, the General Secretary of CAPDAN, Mr. Jerry Mba, attributed the issue to ethnic and leadership tussle perpetrated by few persons who were not even among the traders in the market. Mba said they were only members of the OgunbiyiCommunity, which is the host of Computer Village, chosen from nowhere to come and superintend their affairs.

He said: â&#x20AC;&#x153;What has been playing out is ethnic and leadership tussle. Because our tenure is about ending, issues of not allowing one ethnic group to take over or giving them opportunity to take over the presidency of the association arose. It brought some bickering and agitation.

This is the origin of the Iyaloja issues. Because of the power tussle, few group of people who are not even business operators in Computer Village muted the idea and approached the Iyaloja-General, saying our tenure has expired and we donâ&#x20AC;&#x2122;t want to hand over, whereas our tenure is still subsisting. â&#x20AC;&#x153;In fact, we have a case in court; we were taken to the Federal High Court by the board of trustees. The court said all status quo should remain. So they got this idea and sold it to Iyaloja-General, which is not true. When we got to know of the plan, we took up the matter. We had to inform all authorities concerned, from the local government chairman to the police to the commissioners to the speaker to the governor. We did letters and even wrote to some associations and to intimate them on what was happening. â&#x20AC;&#x153;Even, we organised a peaceful protest to say that Computer Village is an ICT hub. It services the West African sub-region. All the international brands of ICT products are here, foreigners are here. So Iyaloja is alien to us. You want to localise a global and international market recorgnised worldwide by the introduction of Iyaloja. â&#x20AC;&#x153;And Iyaloja is a cultural thing. Are you bringing a sectorthat is evolving, that is growing, that is developing backwards? So we were suspicious of it because it doesnâ&#x20AC;&#x2122;t fit into what we are doing. We donâ&#x20AC;&#x2122;t sell pepper, we donâ&#x20AC;&#x2122;t sell tomato, we donâ&#x20AC;&#x2122;t sell fairly-used clothes and all that stuff here. This is an ICT market, and you know ICT drives the world now; this is a digital age.

He also said: â&#x20AC;&#x153;What is Iyaloja coming to do in a digital environment? What is she bringing on board; that has been our concern. So we are worried. Computer Village has many companies that are registered with the Corporate Affairs

Aerial view of Computer Village

Computer Village Traders during the protest

The aggrieved traders during the protest Commission, they are corporate organisations that are doing their legitimate businesses and paying their legitimate dues and levies and taxes to government. â&#x20AC;&#x153;So are you bringing Iyaloja to start levying them again? Is she going to be involved in training our people? We organse seminars and trainings and conferences for our members from time to

time; even business trainings. â&#x20AC;&#x153;When we submitted our petitions to the governor, Akinwunmi Ambode (the then governor when the interview was conducted) and the Speaker of the House, Modashiru Obasan, they said we should go back, that they would get back to us. But suddenly, we heard that there was inauguration. Even when we got there,

the woman said there was nothing she could do because the thing has been sealed. â&#x20AC;&#x153;We are not questioning her authority. All we wanted was for her to listen to our own side and look at the rationale. You may be doing the right thing at the wrong time, at the wrong place. She said she would call us for a meeting to iron things out. So we are waiting for herâ&#x20AC;?.

22

MONDAY JUNE 3, 2019 â&#x20AC;¢ T H I S D AY

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23

T H I S D AY Ëž Ë&#x153; ÍąË&#x153; 2019

BUSINESSWORLD

Group Business Editor Obinna Chima Email obinna.chima@thisdaylive.com 08152447875

Íą ÍŻ Ë&#x153; Í° ÍŽ ÍŻ ͡ MONEY MARKET OVERNIGHT OBB

REPO 4.93 % 4.14%

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S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

394.59% 0.04% 2.04%

S & P INDEX 1/4 TO DATE YEAR TO DATE

2.07% 10.54%

EXCHANGE RATE N306.95/1US DOLLAR* ĚŠ

Quick Takes NNPC Recruitment: Candidates Laud Baru

Candidates who participated in the recruitment test of the Nigerian National Petroleum Corporation (NNPC) have applauded the Group Managing Director of the Corporation, Dr Maikanti Baru, for organising a transparent and fair exercise across the country.

The aptitude test launched into the third stage today (June 1, 2019) with a succussfull Computer Based Testing (CBT) for at least 60,000 candidates across 22 states of the country. Some of the candidates who spoke to The Whistler applauded the NNPC for the smooth process.

A candidate, Iheoma Okeke who participated in the Graduate Trainee test at lead British International School centre in Gwarinpa said: â&#x20AC;&#x153; I am hopeful because the process was smooth and organized. â&#x20AC;&#x153;What tripped me the most was that the oďŹ&#x192;cials were friendly and fair to everyone which is far from what I usually hear. â&#x20AC;&#x153;I commend the NNPC for this ongoing recruitment,I felt so relaxed during the accreditation because it was fast and okay.â&#x20AC;? Bunmi Adeleye said as she expressed joy. Chief Operating OďŹ&#x192;cer, Corporate Services of NNPC, Isaiah Inuwa, said the test would have not been possible if the corporation, did no col b aborate with some institutions,to ensure the success of the programme.

Adesina Receives Honorary Degree

EMPOWERING WOMEN

L-R: Chief Executive Officer, Emerging Africa Capital Group, Oluwatoyin Sanni; Acting Executive Secretary, Lagos State Employment Trust Fund (LSETF), Teju Abisoye; Founder, Mamamoni Limited, Nkem Okocha and Director, Fosad Consulting, Okhai Olaghere, at the memorandum of understanding (MOU) signing between LSETF and Mamamoni Limited on empowering 100 women start-ups held in Lagosâ&#x20AC;Ś recently ETOP UKUTT

NEXIMBankEyes$1.2bnRevenue fromNon-oilExports James Emejo in Abuja The Nigerian Export-Import Bank (NEXIM), Sealink Consortium and the National Inland Waterways Authority (NIWA) have signed a Memorandum of Understanding (MoU) to formalise and deepen the existing collaborative partnership as well as bridge infrastructure gap in the maritime sector.

The agreement is expected to promote and enhance trade connectivity among member states of the Economic Community of West African States (ECOWAS).

Speaking at the signing ceremony over the weekend, Managing Director/Chief Executive, Nigerian Export â&#x20AC;&#x201C; Import Bank, Mr. Abba Bello, said the deal would further spur the countryâ&#x20AC;&#x2122;s regional and global trade competitiveness.

The agreement signified

ECONOMY progress towards the eventual establishment of the Sealink Project, which was being promoted

by NEXIM to facilitate trade connectivity in the sub-region.

Bello, said the initiative would boost annual non-oil revenue receipts to between $500 million and $1.2 billion through bulk solid minerals exports.

He said the regional Sealink project would promote and diversify exports as well as enhance trade connectivity in line with the present administrationâ&#x20AC;&#x2122;s objective to diversify the economy.

He stressed that bridging the maritime infrastructure gap would significantly enhance exports of bulk solid minerals, thereby enhancing the GDP contribution of both shipping and solid minerals sectors from current levels of about 0.2 per cent.

He said: â&#x20AC;&#x153;The effective implementation of the Sealink project and the safe utilisation of the inland waterways would no doubt bridge logistics gaps that will attract and facilitate investment flows the two sectors. â&#x20AC;&#x153;This will contribute to the realisation of one of the broad strategic objectives of ERGP, which is building a globally competitive economy. â&#x20AC;&#x153;To this end, it will also contribute to improving Nigeriaâ&#x20AC;&#x2122;s current World Bank ease of doing business and Logistics Performance Index (LPI) rankings.â&#x20AC;?

Essentially, he noted that the MoU represented a significant milestone in ongoing collaborations with all key national and regional maritime stakeholders, which would be catalytic to the realisation of one of the priority projects under the ECOWAS Community Development

Programmes.

However, the Chairperson of the Sealink Implementation Committee, Mrs. Dabney Shallholma, said the agreement would improve logistics service delivery and enhance hinterland trade.

She noted that NEXIMâ&#x20AC;&#x2122;s developmental, facilitative and supportive roles in the Sealink project had been quite exemplary and typical of the roles of export credit agencies all over the world, which not only provide export finance but also work to mitigate challenges that impact sustainable trade.

She explained that Sealink was a public-private-partnership initiated by NEXIM for the prompting of the organised private sector â&#x20AC;&#x201C;including NACCIMA / MAN Export Group.

Continued on page 24

TSA: NCS Raises the Alarm over FGâ&#x20AC;&#x2122;s NonPayment of Service Charge Emma Okonji The Nigerian Computer Society (NCS), an advocacy group of the computing profession in Nigeria has raised the alarm over the refusal of the federal government to pay the service charge accruable to SystemSpecs, the Nigerian software company that designed the Remita software currently being used for the implementation of the countryâ&#x20AC;&#x2122;s Treasury Single Account (TSA).

President of NCS, Prof. Adesola Aderounmu, while speaking at a media briefing in Lagos at the weekend, said the service charge,

TELECOM which had amounted to hundreds of billions of naira, was being owed to SystemSpecs and the banks implementing the TSA on behalf of the federal government.

While listing the implications of the continuous refusal of the federal government to pay the service charge, Aderounmu called on the federal government to release all monies accruable to SystemSpecs and the implementing banks, without further delay. â&#x20AC;&#x153;Up till now the federal government has not been able

to fulfil its obligation with regards to the services rendered to her through Remita software, a product of SystemSpecs, who is a financial member of NCS,â&#x20AC;?

Aderounmu said.

Addressing the implications of the non-payment of the service charge to StstemSpecs and the implementing banks, Aderounmu said: â&#x20AC;&#x153;The situation shows there is very low appreciation for indigenous innovation, intellectual property and pace setting accomplishments by government, thus creating a hostile operating environment for operators. It shows a high

level of disregard for contracts entered into with indigenous firms compared with the â&#x20AC;&#x2DC;high level of respectâ&#x20AC;&#x2122; accorded foreign counterparts. â&#x20AC;&#x153;It equally shows extremely low commitment to the implementation of the ICT Local Content Policy, despite official declarations by government on local patronage.â&#x20AC;?

He added that the action of the federal government clearly showed that there was no visible attempt to stop mass exodus of exceptionally brilliant indigenous

The University of Alberta will confer an honorary doctorate of science degree on Dr. Akinwumi A. Adesina, the President of the African Development Bank, at its convocation event in Edmonton, Canada, tomorrow.

Adesina is a globally renowned leader who has dedicated his life to lifting millions of people out of poverty. For more than 30 years, he has implemented policies to increase investment in agriculture and give millions of farmersâ&#x20AC;&#x2122; access to ďŹ nancing and credit, improved seeds, and fertilizers. Since assuming oďŹ&#x192;ce in 2015 as President of the African Development Bankâ&#x20AC;&#x201D;the premier development finance institution in Africaâ&#x20AC;&#x201D; Adesina has made a significant impact.

The Bank has won international recognition for its transparent and effective governance and programs that advance the UNâ&#x20AC;&#x2122;s Strategic Development Goals. Between 2015 and 2018, the Bank has achieved huge developmental results: 16 million people gained access to new or improved electricity; 70 million people gained access to improved agricultural technologies; 9 million people benefitted from private sector investment projects; 55 million people gained access to better transport services; and 31 million people benefitted from improved access to water and sanitation.

President Adesina also launched key initiatives aimed at unleashing African womenâ&#x20AC;&#x2122;s potential. The Affirmative Finance Action for Women in Africa (AFAWA) is a pan-African initiative to bridge the $42 billion financing gap facing women in Africa. It aims to drastically transform the banking and financial landscape in Africa and creating incentives for lending to women in business.

Afreximbank President Visits DRC

The African Export-Import Bank (Afreximbank) is interested in participating in the syndicated facility for the construction of the bridge between Brazzaville and Kinshasa to link the two Congos, Bank President Prof. Benedict Oramah announced recently.

Oramah, who was brieďŹ ng President Felix Tshisekedi of the Democratic Republic of Congo (DRC), when he led an Afreximbank delegation on a state visit to the Congolese President, said the Bankâ&#x20AC;&#x2122;s other areas of interest in the country included the power and energy development project at the INGA 3 Dam, attracting foreign direct investment into the mining sector and attracting its Intra-African Trade Champions and foreign investors into the country for capacity building, partnership and financing. He noted that the Bank had been providing ongoing support to the DRC, particularly in the areas of infrastructural development, such as roads and bridges, provision of a refinancing window to commercial banks through the Banque Centrale du Congo which allowed banks provide long term financing to support investments, and support for local content promotion for extractive industries to provide advisory services to develop local content policy and financing models.

â&#x20AC;&#x153;When it comes to cybersecurity, the entire banking industry is as strong as a bank with the weakest security measures. Therefore, no bank should toy with cyber security measures because there is a contagion effect. If fraudsters can penetrate one bank, what it means is that they can also affect other banksâ&#x20AC;?

MD/CEO, Fidelity Bank Plc, Continued on page 24

Mr. Nnamdi Okonkwo

T H I S D AY Ëž Ë&#x153; ÍąË&#x153; 2019

24

BUSINESSWORLD

NEWS

NEXIM BANK EYES $1.2BN REVENUE FROM NON-OIL EXPORTS

CBN Harps on Open Banking

According to her:â&#x20AC;?As it is currently, Sealink is being officially promoted by NEXIM, FEWACCI and Transimex S.A. Cameroun through a Special Purpose Vehicle (SPV), the Sealink Promotional Company Ltd (SPCL) with nominal promotional shareholding and sponsorship framework. â&#x20AC;&#x153;Sealink is fundamentally conceptualised and designed to bridge maritime transport infrastructure gap, amongst ECOWAS and CEMAC regions, as well as promote inland waterways operations towards facilitating regional integration and bulk cargo trade. â&#x20AC;&#x153;It is also intended to facilitate reduction in logistics cost and the mitigating of unnecessary transit arrangements on regional trade.

Ugo Aliogo

TSA: NCS RAISES THE ALARM OVER FGâ&#x20AC;&#x2122;S NON-PAYMENT OF SERVICE CHARGE ICT skills to other countries who sell the same skills back to Nigeria at exorbitant rates, leading to capital flight.

The federal government had initially agreed to pay five per cent service charge to SystemsSpecs and the implementing banks for all TSA transactions, but reneged on the agreement when it saw the huge volume of money that was realised in the initial transactions on TSA. Government had decided to reduce the percentage from five per cent to one per cent and had directed SystemSpecs to refund four per cent of the money already paid to it and the implementing banks, and the money was returned to government.

The NCS was however worried that even the one per cent service charge payment has been withheld by the federal government, leaving SystemSpecs and the implementing banks with nothing.

Aderounmu, therefore called on government to consider the earlier agreement reached and make efforts to remit funds due to SystemSpecs, which he said, had suffered undue hardship following the non-release of TSA service charge, yet the federal government is enjoying the services of Remita in TSA transactions.

The Central Bank of Nigeria (CBN) has stressed the importance of open banking in the development of the Payment Systems Vision PSV 2030.

The banking sector regulator said it considers the concept as one of the top global trends and new practices in payment that have been deployed in other countries which must be considered in Nigeria.

Open banking is a system that provides a user with a network of financial institutionsâ&#x20AC;&#x2122; data through the use of application programming interfaces (APIs).

The Open Banking Standard defines how financial data should be created, shared and accessed.

According to a statement made available to THISDAY by Centric Gateway, the central bank deemed open banking necessary because of the importance of having a strategy that is relevant for the Nigerian market domestically, for regional and global markets where Nigeria plays a role in international flows.

The Director of Payment System Management, CBN, Sam Okojere, was quoted in the statement to have noted that the request for information into the Payment Systems Vision (PSV) 2030 document, would define the strategic agenda for the Payments System for the next ten years, â&#x20AC;&#x153;it comes on the heels of its very successful Payments System Vision PSV2020 that wraps up at the end of 2019.â&#x20AC;?

It added: â&#x20AC;&#x153;Other global payments trends identified for consideration in Nigeriaâ&#x20AC;&#x2122;s payments strategy in the next 10 years are new payment

methods, digital access, distributed ledger technology, big data and artificial intelligence, cyber-security, digital identity, as well as machine learning and robotics process automation. â&#x20AC;&#x153;This is because of the critical need for the PSV2030 framework to recognise swiftly evolving user requirements, technical solutions, regulatory environments and external threats that typify the industry.â&#x20AC;?

The CBN explained that with change in the financial industry driven by rapid advances in technology, customer expectations and new business models (including Fintech), the payments industry had evolved over the past few decades from the early days of electronic

payment.

In a related development, Centric Gateway, a fintech that implemented an Open Banking gateway for a Nigerian Tier-1 bank, said it has joined Open Banking initiativeâ&#x20AC;&#x201D;led in Nigeria by the Open Technology Foundationâ&#x20AC;&#x201D;as a member, to drive advocacy for a common API standard.

The Chief Executive Officer, Centric Gateway, Niyi Kolade, noted that as part of the companyâ&#x20AC;&#x2122;s desire to improve financial technology in Nigeria, Africa and the world by creating innovative solutions that work for the market, the collaboration with Open Technology Foundation would help to not only drive the companyâ&#x20AC;&#x2122;s business

objectives, but to also help the entire payment services industry to better serve the needs of customers everywhere.

The statement said Open Technology Foundation (OTF), also known as Open Banking Nigeria, was established to drive the development and adoption of Open Banking standards in Nigeria for greater innovation in the financial ecosystem.

It added that OTF encourages a system where banks can easily connect with other APIs in the market to extend their service offerings by introducing native fintech solutions in a plug-and-play manner.

The spokesperson for Open Technology Foundation, Ope

Adeoye, while speaking on the new membership expressed delight to have yet another set of industry players joining the Open Banking Nigeria initiative.

He said: â&#x20AC;&#x153;It is our conviction that soon enough, Open Banking would grow a tap root and more industry stakeholders would strongly advocate and practise it because of its numerous benefits to all across the value chain. â&#x20AC;&#x153;The Nigerian market has been ready for Open Banking for a long while, the benefits of Open Banking far outweigh the risks, which can adequately be easily mitigated, and that it is impressive the CBN is ready to act to ensure that regulation this time does not lag excessively behind innovation.â&#x20AC;?

UVEILING â&#x20AC;&#x2DC;TRIALS ANDTRIUMPSâ&#x20AC;&#x2122;

L-R: Deputy Governor, Akwa Ibom State, Moses Ekpo; Governor, Udom Emmanuel, his wife, Martha Emmanuel and Speaker, State House of Assembly, Barrister Onofiok Luke, at the unveiling of the biography of Ekpo titled â&#x20AC;&#x2DC;Trials and Triumphs,â&#x20AC;&#x2122;in Uyoâ&#x20AC;Śrecently

LSETF, Mamamoni to Empower Women Peter Uzoho The Lagos State Employment Trust Fund (LSETF) has signed a memorandum of understanding (MoU) with an SME support firm, Mamamoni Limited, to provide mobile loans and vocational skills training to 100 women in Lagos, to enable them grow their businesses.

The move was in line with the LSETFâ&#x20AC;&#x2122;s access to finance programme which provides funding for micro, small and medium scale enterprises (MSMEs), as well as capacity building to boost their businesses. The partnership tagged: â&#x20AC;&#x153;Mamamoni

Women Empowerment Project,â&#x20AC;? was signed during the fundâ&#x20AC;&#x2122;s recent visit to Mamamoniâ&#x20AC;&#x2122;s newly-opened Innovation Hub at Amuwo Odofin where the skills acquisition will take place.

LSETF in a statement, said under the partnership, it would provide N5 million to train and fund the 100 women to enable them become distributors of Mamamoniâ&#x20AC;&#x2122;s locally-produced Levantar Liquid Dish Wash, a fast selling consumer good in the local market. It also explained that the beneficiaries of the initiative would get funding of N50, 000 each with a loan tenure of 12 months, saying to

qualify for the loan, the applicant must have gone through the skill acquisition training and certification organised by Mamamoni Limited.

Commenting on the partnership, the Acting Executive Secretary of the LSETF, Teju Abisoye said: â&#x20AC;&#x153;We are pleased to enter into this agreement with Mamamoni as it aligns with our mandate for creating opportunities for Micro-Enterprises to create wealth within the Lagos local economy. â&#x20AC;&#x153;In targeting women, we connect to the well-researched philosophy that when you empower women, you empower the community.

â&#x20AC;&#x153;We are confident that with the track record of Mamamoni in executing similar interventions, this partnership will help create a new pipeline of successful Micro-Entrepreneurs who will contribute significantly to family and community building, whilst creating jobs for the young ones.â&#x20AC;?

In her remarks, the Founder and Chief Executive Officer of Mamamoni Limited, Mrs. Nkem Okocha, said: â&#x20AC;&#x153;I am very proud to be collaborating with the LSETF, renowned for their unbiased, open and accessible programmes. We are determined to lift more women

from the poverty lines, engineer economic growth and societal development. â&#x20AC;&#x153;This partnership with LSETF allows us the opportunity as a brand to fulfil this objective. This arrangement states that we provide necessary training and visibility for the women and their businesses as well as logistics support to all beneficiaries, while the LSETF will provide access to affordable funding through a loan programme for the start-ups. â&#x20AC;&#x153;I am very excited at the prospect of this intervention and the opportunities it offers our women to grow themselves and groom othersâ&#x20AC;?, Okocha added.

Recapitalisation: NAICOM, Operatorsâ&#x20AC;&#x2122; Meeting End in Deadlock Group Business Editor

Obinna Chima

Ebere Nwoji

Capital Market Editor

Goddy Egene

AgriBusiness/Industry Editor

Jonathan Eze

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Eromosele Abiodun (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor ((Energy) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT)

A meeting between chief executives of insurance firms and the National Insurance Commission (NAICOM) over recent directive for a recapitalisation in the industry ended in deadlock as both parties could not arrive at any conclusion, THISDAY learnt at the weekend.

A source who was at the meeting said no concrete agreement was arrived at the meeting which had the chairman, Nigeria Insurers Association(NIA), Mr Tope

Smart, that led the operators and the NAICOM leadership headed by the Commissioner for Insurance, Alhaji Mohammed Kari.

It was also gathered that consideration was given to the fact that not many insurance chief executives attended the meeting, a situation which Smart expressed displeasure about.

Meanwhile, while some industry operators were of the opinion that an increase in the capital base of operating firm had become inevitable, others faulted the timing.

Some operators told THISDAY that the tiered-base increase initiated previously was better than the current exercise, saying operators did not kick against the exercise entirely, but the very short period given to them to comply.

They argued that the paid up share capital increase which came in geometric form would lead to demise of many firms if the commissioner insists on the present level of increase.

The Managing Director, Consolidated Hallmark Insurance, Eddie Efekoha, who

is also the immediate past Chairman of Nigeria Insurers Association(NIA) the umbrella body of insurance underwriters and current president of the Chartered Insurance Institute of Nigeria(CIIN) had at the Annual General Meeting of his company held recently in Lagos, had assured shareholders that the operators were going to engage the regulator on the matter.

The Coordinator, Independent Shareholders Association of Nigeria, Sunny Nwosu had also faulted the move.

NAICOM recently announced

a major increase in the minimum paid up share capital of operating firms.

In the new directive, life insurance operators are expected to shore up their paid up share capital from N2 billion to N8 billion; those into general business are to upgrade their capital to N10 billion from the current N3 billion level; those into composite business are to increase theirs from the current N5 billion level to N18 billion; while reinsurance operators should increase from the current N10 billion to N20billion.

25

T H I S D AY Ëž Ë&#x153; ÍąË&#x153; Ͱ͎ͯ͡

Stock Market Gains 6.5% in May on MTN Listing Goddy Egene

Also speaking, the Group Managing Director, Dangote Industries Limited, Olakunle Alake said: â&#x20AC;&#x153;At Dangote Group, the vision of the business from the outset is to create value for all stakeholders and positively impact and transform the economies where we operate. â&#x20AC;&#x153;This is what we call â&#x20AC;&#x2DC;The Dangote Wayâ&#x20AC;&#x2122;. If our experiences in the last three decades are anything to go by, we can say with utmost confidence that this sustainable business model has been a win-win. Our people and economy-centric approach to business has no doubt been the fact behind the great success that the Dangote business story has become, and the anchor on which our continued growth, expansion and longevity is anchored.â&#x20AC;?

The Nigerian equities recorded a growth of 6.5 per cent in May, compared with a decline of 6.06 posted in April.

The market, which had been bearish for the most part of year, was heading for another negative close in May, before the listing of MTN Nigeria Communications Plc came to the rescue.

Prior to the listing of MTN on May 16, the market had recorded a month-to-date decline of 2.9 per cent as the Nigerian Stock Exchange (NSE) All-Share Index fell to 28,286.08, while market capitalisation stood at N10.627 trillion, as against N29,159.74 and N10.96 trillion at the beginning of the month.

However, the listing of the telco supported by gains recorded by Dangote Cement Plc, boosted the market to close the month on a positive note.

Specifically, the NSE All-Share Index rose to close the month at 31,069.37 last Friday, while market capitalisation ended at N13.685trillion. Last week accounted for 0.61 per cent of the gain posted for the month. The 6.5 per cent gain, has moderated the year-to-date decline to 1.15 per cent.

An analysis of sectoral performance showed that all five sectors tracked appreciated led by the NSE Banking Index with 3.94 per cent. The NSE Insurance Index followed with 3.28 per cent, while NSE Oil & Gas Index gained 2.14 per cent. The NSE Consumer Index rose 1.31 per cent, while NSE Industrial Goods Index chalked up 1.30 per cent.

NSE Launches Sustainability Report Another positive development in the market last week was NSEâ&#x20AC;&#x2122;s launch of â&#x20AC;&#x2DC;Facts behind the sustainability report(FBSR)â&#x20AC;&#x2122; in its quest to continually champion sustainable practices in the African capital markets.

Styled after the NSEâ&#x20AC;&#x2122;s flagship â&#x20AC;&#x2DC;Facts behind the listingâ&#x20AC;&#x2122; and â&#x20AC;&#x2DC;Facts behind the figuresâ&#x20AC;&#x2122; event series, the FBSR was designed to further promote the adoption of Environmental, Social and Governance (ESG) practices, reporting, and disclosure and encourage responsible long-term approaches to investment. It provides a platform for listed companies to address stakeholders with in-depth analysis of their sustainability initiatives, as well as spotlight stakeholder engagements, materiality, standardisation and overall disclosures.

Dangote Cement Plc (DCP) presented at the maiden edition of the FBSR. Commenting on the launch of the FBSR, the Chief Executive Officer of the NSE, Mr. Oscar Onyema, said: â&#x20AC;&#x153;Better ESG reporting is key to strengthening capital markets and achieving a sustainable global economy. The exchange is strategically positioned to influence the adoption of globally recognised sustainability standards by Nigerian businesses and we continue to highlight the importance of sustainable business practices in delivering value to our listed companies and investing public to support economic growth. â&#x20AC;&#x153;We welcome the Executive Management of DCP for the maiden edition of FBSR to brief the investing community on details of their first ever stand-alone sustainability report.

It is our belief that this giant step taken by DCP will encourage other listed companies, especially those on the Premium Board, to come for their FBSR at The Exchange. â&#x20AC;&#x153;This will provide them the platform to showcase their efforts in sustainability and corporate governance as well as address investorsâ&#x20AC;&#x2122; requirements on ESG issues.â&#x20AC;?

Presenting its sustainability report, DCP said it aimed to make the culture of sustainability a business impera-

tive through its 7-Pillar approach to sustainability, called â&#x20AC;&#x153;The Dangote Wayâ&#x20AC;?.

The Group Managing Director, DCPPlc, Joseph Makoju said: â&#x20AC;&#x153;We have identified and are leveraging sustainability to drive regulatory compliance, proactive risk management and building trust and goodwill in the countries, markets and communities where we operate.â&#x20AC;?

He said with major operations in three locations in Nigeria and across 14 African countries, DCP is enhancing its positive impact on the economy,

environment and society through an integrated approach that mainstreams sustainability across the entire business.

This process includes publishing its maiden Global Reporting Initiative (GRI)-Standards compliant sustainability report.

He added that DCP is also committed to aligning its operations with the group-wide sustainability vision, driven by its 7-Sustainability Pillars, through extensive engagements with internal and external stakeholders. â&#x20AC;&#x153;The 2018 DCP sustainability report

is structured according to these Pillars and covers the financial and nonfinancial performance in four countries, namely Nigeria, Ethiopia, Senegal and South Africa. By aligning with the 7 Pillars(institutional, cultural, operational and environmental, economic, social, financial), the company ensures that every aspect of its business is run in line with global sustainability principles; thereby embedding sustainability beyond issues of risk management and compliance â&#x20AC;&#x201C; in its day-to-day business operations,â&#x20AC;? he said.

Market turnover Meanwhile, a total turnover of 1.082 billion shares worth N18.111 billion in 16,400 deals were traded this week by investors in contrast to a total of 1.698 billion shares valued at N57.895 billion that exchanged hands last week in 24,328 deals. The Financial Services Industry led the activity chart with 809.990 million shares valued at N8.495 billion traded in 8,969 deals, thus contributing 74.8 per cent and 46.9 per cent to the total equity turnover volume and value respectively.

The ICT Industry followed with 69.705 million shares worth N5.411 billion in 1,754deals. The third place was Healthcare Industry with a turnover of 45.971 million shares worth N14.262 million in 139 deals. Trading in the top three equities namely, United Bank for Africa Plc, Access Bank Plc and Zenith Bank Plc accounted for 351.014 million shares worth N3.737 billion in 4,088 deals, contributing 32.4 per cent and 20.6 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 290,130 units of Exchange Traded Products (ETPs) valued at N3.935 million executed in 16 deals compared with a total of 7,832 units valued at N48,890.00 transacted the previous week in six deals.

A total of 1,057 units of Federal Government Bonds valued at N1.060 million were traded last week in seven deals compared with a total of 1,389 units valued at N1.440 million transacted two weeks ago in 14 deals.

Price Gainers and Losers A look at the price movement chart showed that 35 equities appreciated in price during the week, higher than 30 in the previous week, while 24 equities depreciated in price, lower than 40 equities of the previous week.

Chams Plc led the price gainers with 15.1 per cent, trailed by Sterling Bank Plc with 11.1 per cent. Ecobank Transnational Incorporated gained 10.9 per cent. AXAMansard Insurance Plc chalked up 10 per cent, just as Learn Africa Plc and Neimeth International Pharmaceuticals Plc garnered 9.8 per cent apiece.

Other top price gainers included: Livestock Feeds Plc, Unity Bank Plc (9.2 per cent each), Law Union & Rock Insurance Plc and Courteville Business Solutions Plc (9.0 per cent).

Conversely, Berger Paints Nigeria Plc led the price losers with 9.5 per cent, trailed by R.T Briscoe Nigeria Plc with 9.3 per cent. Eterna Plc shed 8.5 per cent. CAP Plc went down by 8.5 per cent, just as Champion Breweries Plc and Fidelity Bank Plc lost 8.1 per cent and 7.1 per cent in that order.

Other top price losers included: Jaiz Bank Plc (6.1 per cent); Veritas Kapital Assurance Plc,PZ Cussons Nigeria Plc(4.7 per cent)and Oando Plc (4.4 per cent).

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Experts: Adeosunâ&#x20AC;&#x2122;s Input to Nigeriaâ&#x20AC;&#x2122;s Economy Canâ&#x20AC;&#x2122;t be Ignored James Emejo in Abuja Former Minister of Finance, Mrs. Kemi Adeosun, has been commended for spearheading some of the critical reforms in the fiscal space.

Specifically, experts said she was a key actor in the countryâ&#x20AC;&#x2122;s eventual exit from recession, by reshaping policies, which put the economy on the growth trajectory.

For instance, Managing Director, Financial Derivatives Limited, Mr. Bismarck Rewane, said Adeosun was a major compliment to the economic team, as she possessed adequate knowledge of the workings of fiscal policy.

Besides, Rewane said the former minister understood the fiscal stimuli that the country needed to get out of recession and helped the economy recover faster despite the high interest rate regime at the period. â&#x20AC;&#x153;She targeted fiscal spending to areas that needed growth, which was complimentary to

the fiscal side,â&#x20AC;? he said.

Similarly, Professor Richard Mayungbe, who heads the Nigerian chapter of the Institute of forensic accountants, said Mrs Adeosun recorded a lot of achievements when she was in office.

According to him: â&#x20AC;&#x153;She introduced the whistle-blower policy, which has helped the government to recover a lot of funds,â&#x20AC;? he said. â&#x20AC;&#x153;She also actively implemented the TSA policy. She had introduced this policy when she was commissioner of finance in Ogun State. The integrated payroll system, which has helped to expose ghost workers was also one of her achievements. â&#x20AC;&#x153;There is also a software that the Customs is using now to make their work more efficient.

That was her initiative. Finally, although she did not introduce Biometric Verification Number (BVN), she ensured the policy was continued and fully complied with.â&#x20AC;?

Likewise, the Managing Direc-

tor, Crane Securities Limited, Mr. Mike Eze, said Adeosunâ&#x20AC;&#x2122;s tenure was beneficial to the capital market and the economy.

He said: â&#x20AC;&#x153;He said among various developmental initiatives were Green Bond and Sukuk Bond floated under her watch.

Having worked in the capital market and financial circle, she supported the bonds wholly and both of them were highly successful.â&#x20AC;?

He added: â&#x20AC;&#x153;Her regime was beneficial to the market and economy. Nigeria went into recession and also exit recession under her watch due to her prudent management. She also implemented the treasury single account, which has saved the economy and the government billions of naira and brought proper accountability to the system. She has a very strong character, which is needed to run an economy of any nation.â&#x20AC;?

Speaking in the same vein, Former Chairman, Association of Stockbroking Houses of Nigeria and Managing Director, Compass

Securities Limited, Mr. Emeka Madubuike, said that the former minister was close to the Capital Market Planning Committee that fashioned out the 25 years capital market plan.

According to him: â&#x20AC;&#x153;Through the instrument, both the green and sukuku bond were floated which was a huge success.â&#x20AC;?

The former minister, among other initiatives, played leading roles in the development of various cost cutting initiatives through the pursuit of carefully thought out policies aimed at promoting transparency in the payment process, drastic reviews of the procurement process, the sanitisation of the public-sector payroll system, leading to the elimination of huge number of ghost workers, amongst other laudable objectives.

Adeosun was particularly pivotal to the introduction of a landmark whistle-blower policy, which was designed to boost public participation in the fight against corruption.

Under the policy, the federal

government had directly recovered the sum of N7.8 billion, US$378 million and GBP27,800.

In May 2018, the government paid N439,276,099.86 to about 14 whistle-blowers who gave specific tips on tax evasion.

The policy was further designed to support the fight against graft by exposing financial crimes and rewarding credible informants of such malfeasance.

Also, through specific information provided on companies, which underpaid their taxes, the government was able to recover the sum of N13.8 billion. The Whistle-blower policy has helped tremendously in facilitating recoveries of ill-gotten funds and assets.

Also, one of her signature interventions was the setting up of the Efficiency Unit barely two weeks after her assumption of office as Minister of Finance. The unit was established to reduce wastages, promote efficiency, ensure prudence and add value for money in all government

expenditures.

Furthermore, the unit was able to entrench better management of certain recurring processes and activities relating to travels, sitting allowances, souvenirs, and others resulting in savings.

Following the initiative, the sum of N34 billion was saved on travel and transport for 2016 compared to 2015 figures and a further N58 billion on same travel and transport in 2017 compared to 2016.

Moreover, the efficiency unit of the ministry saved N24 billion on office stationeries and computer consumables in 2016 as against the previous year and a further N10 billion in 2017 compared to 2016 expenditure on the same line item.

Besides, the policies entrenched

by Adeosun also promoted transparency in the payments system including procurement as well as harmonisation of the insurance process of all critical assets/liabilities of government for all MDAs, a process which is still ongoing.

Access Bank, Others Win Awards Raheem Akingbolu

COURTESYVISIT

R-L: Shehu of Borno, HRH Alhaji Abubakar Umar; Deputy Governor (Operations), Central Bank of Nigeria (CBN), Mr. Folashodun Shonubi and the Branch Controller for Maiduguri, Mr. Tijani Kanuriana Lawan, during a courtesy visit on the Shehu by the CBN Deputy Governor, who was on an operational visit

Investment One Launches Mentorship Programme for SMEs Bamidele Famoofo Investment One Financial Services Limited has launched a mentorship programme aimed at helping small and medium scale enterprises (SMEs) grow and contribute to the economic growth of the nation.

According to the Chairman, Investment One Financial Services Limited, Egbert Imomoh, the financial group decided to take on the challenge of mentoring SMEs because, â&#x20AC;&#x153;we found out that the SME space is not growing as fast it should in Nigeriaâ&#x20AC;?. Imomoh, at the inauguration of the scheme recently in Lagos, highlighted the objectives of the mentorship programme which included to help SMEs grow by developing necessary structures, provide them with the necessary guidance to access and maximise funding, and to serve as a platform to empower the informal sector to thrive and to ultimately contribute to the nationâ&#x20AC;&#x2122;s gross domestic product (GDP).

Part of the target of the scheme was to equip SMEs with requisite

management skills needed to build world- class institutions with lasting legacies and also granting them access to a wealth of experience and networking opportunities with reputable mentors selected from across the different walks of life. â&#x20AC;&#x153;The initiative is to support SME growth in Nigeria.â&#x20AC;? The Group Managing Director of Investment One Financial Services Limited, Nicholas Nyamali, emphasised in an opening remark at the launch of the mentorship programme.

Nyamali, who acknowledged that Nigerian SMEs were faced with so many challenges battling against their survival, said his company was ready to render assistance through mentorship and other generic support for them to thrive.

He disclosed that the role of Investment One Venture Capital, subsidiary of Investment One Financial Services, which was the driver of scheme, was to help SMEs build management capacity which will help them run their business in such an

efficient manner that will make capital flow to them easily. â&#x20AC;&#x153;You hear the SMEs say their major problem is lack of capital while on the other hand the capital holders or private investors argue that the problem is not dearth of capital but lack of managerial skills on the side of SMEs. â&#x20AC;&#x153;So, the role we have come to play as a capital holder is to bridge the gap. We will train them through mentorship to acquire the necessary managerial skills needed for them to attract capital and grow their business profitably,â&#x20AC;? Nyamali reiterated.

One of the mentors, Managing Director and Chief Executive Officer of Courier Plus, Mr. Isaac Orolugbagbe, told mentees at the event that their ability to pay attention to details would stand them out in their various business endeavours.

Orolugbagbe, an erstwhile CEO of Red Star Express, shared the secret behind the success of the company which he took from grass to grace. â&#x20AC;&#x153;We were not rigid in our approach to business as we

paid attention to the needs of our customers and created solutions to satisfy their needs. We did everything the right way. â&#x20AC;&#x153;We prepared our financial accounts as and when due and correctly too, we treated our staff well and accommodated all our stakeholdersâ&#x20AC;?. â&#x20AC;&#x153;SMEs or start-ups must learn to be disciplined and provide outstanding services that will better the lots of the people and not putting making money first on their priority listâ&#x20AC;?, Orolugbagbe admonished.

The CEO, BIC Consult Limited, Dr. Boniface Chizea, one of the mentors who spoke on â&#x20AC;&#x2DC;Effective Leadershipâ&#x20AC;&#x2122;, told THISDAY that the initiative from Investment One Financial Services Ltd was laudable. â&#x20AC;&#x153;We commend Investment One for this laudable initiative as it provides hand holding opportunity for SMEs to overcome their known shortcomings and hopefully unleash their economic growth and job creation potentials to the greater benefit of Nigeria; a country lacking in commensurate growth and development.â&#x20AC;?

A cross section of leading brands in Nigeria, cutting across major sectors of the economy recently emerged winners in the maiden edition of the BrandCom Awards held in Lagos.

Some of the winning brands that were rated based on professionalism, innovations and creativity, included MTN Nigeria, Access Bank, Dominoâ&#x20AC;&#x2122;s and Indomie noodles.

Speaking on the awards, the convener of the award, which was a subset of Brandcomfest, Joshua Ajayi said the platform came to fore following calls for years from stakeholders in the IMC industry that felt there is so much more that needs to be done in that regards. â&#x20AC;&#x153;For years, many stakeholders have reached us at Brand Communicator, asking why we do not have a platform that recognises and rewards excellence in this very vibrant industry.

â&#x20AC;&#x153;Distinguished guests, we shied away from this onerous responsibility to concentrate on projecting the industry as we felt there are enough platforms for this already. However, we have also been inundated with complaints about the falling integrity of awards in recent times where recognition is reserved for the highest bidder rather than merit which should be the norm. â&#x20AC;&#x153;At Brand Communicator, we felt this industry deserves better, hence we came up with the BRANDCOM Awards. In line with our tagline of Prestige, Integrity and Credibility, we had a panel of assessors set up to painstakingly review our nominations. The result is all the agencies, brands and individuals here present to receive one form of recognition or the other,â&#x20AC;? he said. In the brand category, GTBank was awarded Commercial Bank Brand of the Year, while Access Bank carted away two awards - SME Friendly Bank of the Year and Best Brand in Sustainability.

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NestleTargets Increased Market Share Hamid Ayodeji Nestle Nigeria Plc has disclosed plan to introduce brand loyalty programmes to increase its market share in Nigeria.

The Managing director, Nestle Nigeria Plc, Mauricio Alarcon, said this during the companyâ&#x20AC;&#x2122;s Annual General Meeting held in Lagos recently.

According to him, Nestle

had continued to emphasis on creating demand as well as strengthening its brand loyalty so as to increase market penetration.

Alarcon explained, â&#x20AC;&#x153;The company also continued to focus on creating shared value for the society and its shareholders by delivering high quality nutritious products to consumers whilst contributing to the growth of

Group Advocates Support for Children Raheem Akingbolu In commemoration of the 2019 Childrenâ&#x20AC;&#x2122;s Day, a perfume and fragrance retailer, Essenza Fragrances and perfumes, has called on corporate bodies and individuals to rise up in support of children in Nigeria in the area of education, health and provision of basic social learning materials.

The Executive Director, Essenza, Abiola Kasumu, who spoke at a children day party organised by the management of the company in partnership with Kudi Cosmetics for pupils of Amuwo-Odofin Primary School and Unity Primary School, Lagos, said as a brand that believes in charity, Essenza was committed to touching lives, hence the reason for identifying with the children on their day. â&#x20AC;&#x153;As a company that tailors its Corporate Social Responsibility (CSR), towards charity, we see Childrenâ&#x20AC;&#x2122;s Day as an ideal occasion to celebrate and rejoice with Nigerian children and show them love through sharing of foods, school items, including school bags and exercise books,â&#x20AC;?

On why the company settled for a public school for the special party, Kasumu said it was deliberate because of the

non-charlatan attitude of many Nigerians towards public schools. â&#x20AC;&#x153;While planning our childrenâ&#x20AC;&#x2122;s day celebration for children, two things were considered; we wanted an exclusive event that was why we fixed May 28th for the own children party and we deliberately settled for public school so we can fully achieve our objective. Today, we are happy sitting, dancing, eating and sharing with the children. We didnâ&#x20AC;&#x2122;t come here on 27 because we knew the pupils would be on holiday or making visitation to some places of interest,â&#x20AC;? she said.

Speaking further on how far the company had gone in its CSR drive, the Executive Director pointed out that Essenza had recently intervened in the health challenge of some patients at Idera Memorial Clinic in Ijebu Ode, where the company foot the bill for surgery of some patients, among other such interventions.

She, however, called on other corporate bodies in the country to join hands with government to boost the education sector, stating that the future of Nigeria depends on provision of adequate education that would get the buy in of all the stakeholders.

Ogun Lauds NBCâ&#x20AC;&#x2122;s Effort to Tackle Unemployment Raheem Akingbolu The Nigerian Bottling Company (NBC) Limited has commenced its 2019 series of the â&#x20AC;&#x2DC;Youth Empoweredâ&#x20AC;&#x2122; initiative aimed at equipping youths with basic life and business skills at a 3-day workshop held in Abeokuta.

The initiative which received commendation from the Ogun State Government for tackling youth unemployment in the country, witnessed a large turnout of over 750 registered participants.

In his opening remarks at the 3-day workshop, the Permanent Secretary, Ministry of Youth Development and Sports, Ogun State who was represented by the Director, Employment Generation of the Ministry, Mr. Abdulhakeem Ashimi, described the initiative as highly commendable, well thought-out and complementary to governmentâ&#x20AC;&#x2122;s effort in reducing unemployment through its numerous programs for the youth. â&#x20AC;&#x153;The problem of persistent youth unemployment requires combined efforts of the public and private sectors for any meaningful and sustainable impact to be achieved. We

believe government alone should not be left to tackle the issue of unemployment in Nigeria, the private sector has a big role to playâ&#x20AC;? he said.

Ashimi, further commended the effort and commitment of the Nigerian Bottling Company Limited for contributing its quota to reducing the unemployment challenge in the country by equipping the youths with basic life and business skills. â&#x20AC;&#x153;Whatever is being done now is to contribute to the effort of the Government with regards to unemployment, we do not have factories and offices where we can accommodate the army of unemployed youths in the country.

All we can do is to serve as enabler and collaborate with willing partners like NBC so that the unemployment rate can be drastically reducedâ&#x20AC;? he noted.

Ashimi, therefore urged the participants to avail themselves of the unique benefits of the workshop by acquiring the necessary skills that would make them competitive in todayâ&#x20AC;&#x2122;s work environment as well the skills needed to be successful as entrepreneurs.

the local economy through local sourcing and increasing access to clean drinking water in the communities where it operates. â&#x20AC;&#x153;We are pleased with the sustained growth of our company, the loyalty of our consumers, the discipline and dedication of our people to provide tastier and healthier products.â&#x20AC;?

Speaking on the future of the company for the rest of

the year, Alarcon said, â&#x20AC;&#x153;We are optimistic that our current business model would continue delivering satisfactory results to our shareholders and to the society in line with our creating shared value principle. â&#x20AC;&#x153;Providing high quality and affordable nutritious products which meet the needs and preferences of our consumers would remain our priority as

we help build thriving, resilient communities through sustainable local sourcing and continuous product innovation.â&#x20AC;?

Also speaking at the event, the Chairman of board members, Nestle Nigeria, Dave Ifezulike, explained that, â&#x20AC;&#x153;Despite the hardship of the economy the world has faced, we are as a company has been able to scale through and arrive at a

profit which every one of our shareholders would benefit from. â&#x20AC;&#x153;Compared to other companies our dividend is much based on the profit we have made.

As a business we realise the wellbeing and progress of our customers is very important, thus we do everything legally possible to satisfy them because without our customers we are nothing.

Phase3 Eyes New Market, Industry Growth Opportunities Emma Okonji Following the recent elevation of its founder, Mr. Stanley Jegede, to the position of Board Chairman, Phase3 Telecom has appointed Mr. Olusola Teniola as the new Chief Executive Officer.

The West African independent fibre optic infrastructure and telecommunications service provider has also embarked on a strategic repositioning drive for new market and industry growth opportunities.

Jegede, who has for almost two decades driven the Phase3 vision by fostering creativity, high-performance and a legacy

of positive impacts, said: â&#x20AC;&#x153;He is confident that this new and exciting chapter in Phase3â&#x20AC;&#x2122;s corporate existence will amplify the companyâ&#x20AC;&#x2122;s role as a dominant industry player, infrastructure spinal cord and an enabler for the ever-changing technologies.â&#x20AC;?

Teniola, who emerged the new CEO after a thorough and careful screening and selection process, according to Jegede, â&#x20AC;&#x153;brings a wealth of proven knowledge in engendering digital transformation; to effectively drive its robust strategic vision and goals.â&#x20AC;?

Phase3, Jegede said further, would continue to broaden its business expanse and network

operation capabilities to cushion future market changes while ensuring the full compatibility of its renewed enterprise and retail services segments with focal industry trends such as artificial intelligence (AI), Internet of Things (IoT) connectivity solutions and fifth generation (5G) wide area wireless networks.

While thanking the Phase3 board, Teniola, a former Chief Operating Officer and Director of Engineering at Phase3 Telecom, said his appointment would offer a great opportunity for him to work with a vibrant team to

ensure the companyâ&#x20AC;&#x2122;s focus for the future.

He added that â&#x20AC;&#x153;engagement with every client and stakeholder that Phase3 encounters must always be uniquely enriching. Thus the team will continue to work towards a digital transformation journey that is nimble, agile and responsive as well as charted to make certain that the way and manner Phase3 conducts its business and delivers its solutions, truly amplify the companyâ&#x20AC;&#x2122;s growth trajectory, vision for West Africa, global pursuits and portfolio of extraordinary accomplishments.â&#x20AC;?

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T H I S D AY • MONDAY JUNE 3, 2019

T H I S D AY • MONDAY JUNE 3, 2019

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30

TECNO Unveils New Smartphone in Nigeria

Foundation Calls for Support of FGâ&#x20AC;&#x2122;s Economic Revival Policies

Emma Okonji

Raheem Akingbolu

TECNO has unveiled a new addition to its Pouvoir series which is known for its huge battery capacity.

The new TECNO smartphone, Pouvoir 3, features an enormous 5,000mAH battery for users to enjoy four days of non-stop fun and usage in just a single charge, designed truly for Nigerians.

Highlighting the key features of the Pouvoir 3 in relation to its numerous benefits for the user, PR and Strategic Partnership Manager, TECNO, Jesse Oguntimehin said: â&#x20AC;&#x153;Being from the stables of the Pouvoir series that is known for its incredible battery capacity and performance, the Pouvoir 3 proudly delivers on battery life, with four days uninterrupted standby performance. With the 5000mAh battery being the focal point, the Pouvoir 3 device takes the user to a place of utmost comfort and satisfaction with an impressive battery charge that can last for an extremely long time.â&#x20AC;?

The new powerful addition to the Pouvoir family comes with a high performing glossy design that is light weight, slimmer and sleeker than its predecessors. The device also

comes with a 6.2-inch notch screen and super full view that projects images better â&#x20AC;&#x201C;which is a substantial improvement from its predecessor, the Pouvoir 2.

The Pouvoir 3 is integrated with new age smartphone tech and is packed with an exemplary array of new features such as: Face Unlock, Fingerprint Sensor for optimised security, AR emoji, wireless FM radio, among others.

Speaking on other fascinating features of the smartphone, Oguntimehin said: â&#x20AC;&#x153;The new TECNO Pouvoir 3 comes with a 13MP front camera and 13MP rear camera, has a large internal storage of 32GB ROM+ 2GB RAM and runs on Android 8.1 OS based on HiOS 4.1, which guarantees an overall fluid performance.

TECNO Pouvoir 3 comes in 3 distinct colors: Midnight Black, Champagne Gold and Aqua Blue and is currently on sale at every authorised TECNO retail store nationwide. â&#x20AC;&#x153;Pouvoir fans can also win big in the TECNO Pouvoir 3 Promotion. The Promo runs from 20th May, 2019 to 8th June, 2019. To be part of this promo, visit any TECNO exclusive store and buy Pouvoir 3, collect your scratch card and scratch it.â&#x20AC;?

The President of UNIC Foundation, Dr. Christopher Imumolen has said to revive the economy, stakeholders in public and private sectors need to contribute their quota and support the federal government in various facets of the economy.

Addressing a press conference on the theme: â&#x20AC;&#x2DC;Tackling the economic downturn in Nigeria and the role of the FG and UNIC Foundation in reviving the economy,â&#x20AC;&#x2122; Imumolen was confident the economy would recover.

The president of the NGO, who expressed concern about the countryâ&#x20AC;&#x2122;s high unemployment rate, argued

that Nigeria was one of the difficult countries to reside in.

According to him, â&#x20AC;&#x153;It is true that Nigeria is not doing enough, but some are still being done to better the lives of the people. There are a lot of people suffering in the country especially in the Northeast. â&#x20AC;&#x153;There is lack of social amenities for the enjoyment of Nigerians, but we will continue to champion the cause of the determined Nigerians. I should also say this; the only way corruption could best be handled is when the middle belt is given priority. Nigeria belongs to all of us and we have no other place to run to.â&#x20AC;?

Imumolen, further argued that, â&#x20AC;&#x153;Nigerians would defend the country effectively when they are considered in the scheme of things as far as governance is concerned.

One of the problems of the country is the mentality of the people.â&#x20AC;?

In calling on well to do Nigerians to give support to those who are less privileged, the UNIC Foundation President suggested that, â&#x20AC;&#x153;We need to build more social entrepreneurs, and the rate of business mortalities in the country is worrisome. â&#x20AC;&#x153;Nigerians should not be too proud for nothing. We can be creative in business even when there are no social amenities.Government should

provide a congenial environment for businesses to thrive.

The UNIC Foundation Business Empowerment Program is intended at empowering those who are interested is doing business. It is sad that we are in a country where people donâ&#x20AC;&#x2122;t value knowledge.â&#x20AC;?

Imumolen equally called on President Muhammadu Buhari to bring in competent persons as he compiles the list of likely ministers and other political appointees that would work with him as soon as he kicks-off his second term in office. â&#x20AC;&#x153;Political office holders should not see their appointments as an opportunity to enrich themselves at the detriment of Nigerians.â&#x20AC;?

More Winners Emerge in FCMB â&#x20AC;&#x2DC;Millionaire Promoâ&#x20AC;&#x2122; The first draws of season six of the First City Monument Bank (FCMB) savings reward scheme tagged â&#x20AC;&#x2DC;Millionaire Promoâ&#x20AC;&#x2122; took place nationwide recently.

At the end of the draws, another set of four customers of the bank each won the star prize of N1 million.

Moreover, hundreds of other customers won various prizes, ranging from LED televisions, power generating sets, decoders, tablets, smartphones, among others.

The winners emerged through a random selection of qualified customers at a colourful ceremony held at the four regions and 19 zones that make up the Bankâ&#x20AC;&#x2122;s footprint in Nigeria.

In attendance were officials of the National Lottery Regulatory Commission, Consumer Protection Council, community leaders, thousands of customers of the financial institution and other dignitaries.

The new millionaires were Olabisi Omotayo (Lagos region), Mustapha Egba (Abuja & North region), Helen Okon (South-east & South-south region) and Sholanke Olalekan (South-west region).

According to a statement, one of the winners of N1million, Mrs. Helen Okon, commended FCMB for its commitment to the success of its customers through the promo and other reward as well as empowerment initiatives.

Another winner of N1million, Mr. Mustapha Egba, was quoted to have said: â&#x20AC;&#x153;FCMB is truly a friend and partner in progress.â&#x20AC;?

Speaking on the promo and the draws, the Executive Director, Retail Banking of the Bank, Mr. Olu Akanmu said, â&#x20AC;&#x153;we are delighted to produce another set of millionaires and winners of other prizes in the first draws of the promo. â&#x20AC;&#x153;Thousands of Nigerians have so far benefitted from this life-changing initiative since it commenced in 2013. â&#x20AC;&#x153;The season six of the promo will produce another set of 16 millionaires. Thousands of other lucky customers will be rewarded with various exciting prizes. â&#x20AC;&#x153;We will continue to reward and enhance the experience of our customers through this promo and other offerings, aimed at further empowering and adding value to them in line with our core values. â&#x20AC;&#x153;We are also committed to distinguish our offerings in the retail banking space by delivering exceptional products and services that would ultimately ensure the growth and achievement of the personal and business aspirations of our customers.

All our customers need to do to win in the millionaire promo is to keep on saving with FCMB.â&#x20AC;?

On how to participate in the promo, Akanmu explained that all existing or new customers of the bank needed to do was to increase their respective balances by N10,000 in any of the eligible savings accounts and maintain it for 30 days to qualify for the zonal and regional electronic selection of winners.

SPECIAL RECOGNITION

L-R: Business Manager, Landover Aviation Business School (LABS), Mr. Mobolaji Durojaiye; Executive Director, Landover Company Limited, Mrs. Aduke Atiba; 2019 IATA Best Performer in Nigeria and graduate of LABS, Miss Deborah Oni; Manager, Corporate Services, Landover Company Limited, Mrs. Aderonke Emmanuel-James and Business Manager, Operations, Landover Company Limited, at the presentation ceremony of the 2019 IATA Best Performer Award in Nigeria, in Lagosâ&#x20AC;Śrecently.

â&#x20AC;&#x2DC;Eko Innovation Hub Boost forTech Ecosystemâ&#x20AC;&#x2122; The founder and CEO of GDM Group, Victor Afolabi, who developed the Eko Innovation Hub for the incubation of start-ups in Lagos, has described the initiative as a boost for the countryâ&#x20AC;&#x2122;s tech ecosystem.

Afolabi, noted that tech hubs are vital part of the entire startups ecosystems by providing platforms and opportunities for collaborations and building support structures that are important to the growth of new start-ups.

Lagos over the last few years has become one of Africaâ&#x20AC;&#x2122;s city with a robust tech ecosystem; it is currently the city with the highest number of technology hubs on the continent.

According to a statement, it was in keeping up with the fast-growing paradigm of technology driven economies, that the new Eko Innovation Hub was launched recently, aimed at discovering, incubating and curating new start-ups that would create

new technological-driven solutions and add better value to an already growing tech ecosystem on the continent.

The primary objective is to transform the tech and innovation landscape in Nigeria and by extension, Africa.

Afolabi added: â&#x20AC;&#x153;We saw in the Lagos manifesto an agenda to make the State a 21st century economy. The only way to create a 21st century economy is to make sure you are creating businesses and solution to problems that are driven by innovation and technology.â&#x20AC;?

Nigeria recorded the highest growth of tech hubs in Africa, expanding by 40 per cent in two years between 2016 and 2018. â&#x20AC;&#x153;The Eko Innovation Hub (EIH) is designed not just to add to the growing figures of local tech hubs, but to provide a much-required platform for start-ups to scale through the challenges of their incubation period â&#x20AC;&#x201C; a bold and audacious

initiative for the countryâ&#x20AC;&#x2122;s tech community. â&#x20AC;&#x153;Most of the existing hubs primarily provide workspaces and basic facilities including power and internet services, with a few more providing support platforms for the growth of the startups operating from there. â&#x20AC;&#x153;But for Eko Innovation Hub, it is imperative to become a partner in the progress and success of the start-ups, by providing shared services including legal, finance, tech, marketing, and PR services among others. In doing this, the hub gets a stake (equity) in each business. â&#x20AC;&#x153;This means that start-ups who are admitted have the time to focus on their businesses and are not worn out by bureaucracy, as the hub essentially takes over most of the bureaucratic processes, allowing the businesses focus more on the success of their ventures. This is a

game-changer for potential start-ups â&#x20AC;&#x153;For most Nigerian start-ups, the stage between concept to commercialisation is mostly the defining stage of the journey, where many eventually get it wrong. EIH is simply saying, â&#x20AC;&#x2DC;focus on building your products and business, while we take care of the other things for you!â&#x20AC;&#x2122; The new Lagos state governor, Mr. Babatunde Sanwo-Olu had said: â&#x20AC;&#x153;Technology is the way to go, it is the way of the future and it is the way the entire universe is going to, and everybody is using technology to develop everything that we need. We believe that from here, things around the THEME concept that has to do with the environment, education, transportation and health innovations would be developed. â&#x20AC;&#x153;People from here would come and give us innovative ideas to solve our transport problem; ideas with which they think locally but act globally.â&#x20AC;?

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MONDAY JUNE 3, 2019 â&#x20AC;¢ T H I S D AY

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32

Elebutu: LoweringTax Rates Will Attract More Investments Kunle Elebute is the Senior Partner, KPMG in Nigeria and Chairman, KPMG Africa.

He has over 36 years of professional experience advising clients in the private/public sectors in Nigeria, West and Sub-Sahara Africa. In this interview on Arise Television, he spoke extensively about how Nigeria can attract more investments into the country, the need for the government to step back from doing so many things and create a space for private sector operators to lead in areas they have better expertise, among other issues.

Nume Ekeghe provides the excerpts With Nigeriaâ&#x20AC;&#x2122;s revenue still largely dependent on oil, what can the government do differently to make taxation a major source of revenue as well as exploring other alternatives?

You know, every question on tax always start with a tax to Gross Domestic Product (GDP) ratio of six per cent. For me, it is rhetoric, unfortunately.

But fundamentally, if you really want to get tax level to increase, you have to grow the economy.

When the economy is not growing, you canâ&#x20AC;&#x2122;t expect the tax level to increase. So we need to really get back as a country and say to ourselves what is the minimum growth rate we need to drive this economy. Iâ&#x20AC;&#x2122;ll give you an example: After Tiananmen Square in China in 1989, the Chinese government decided that so as not to have a repeat of what happened, minimum growth rate would be eight per cent. And they achieved eight to 10 per cent for about 25 years and transformed the economy. Fundamentally, because it took many people out of the low-income economy to middle-class and they had much more to pay taxes. That was one aspect. Another major aspect is the issue of trust. Taxpayers need to see what they are using their money to do.

That is because if you are using the money to clear expenditure or finance elephant projects, then why shouldnâ&#x20AC;&#x2122;t we pay tax? In that sense, it is granted as a civic duty and everybody must pay tax. But the reality is that countries where the political leaders or those at the helms of affairs do not use tax money to grow the economy, would find that in such situation, trust will be broken. And for Nigeria, that is the first step. Lagos State government over the last 20 years has tried very hard and improved the trust situation significantly. I could remember very well in 1999, when Bola Tinubu became Governor, the Internally Generated Revenue (IGR) was about a billion naira, but today, as at last count, it has gone to over N30 billion. And you see what is happening in Lagos in the last 20 years? They still have a lot of work to do, but there has been a lot of transformation around the way the city has developed over time, using mainly taxpayersâ&#x20AC;&#x2122; money. So to recap, if there is no growth, you wonâ&#x20AC;&#x2122;t see an increase in tax rate and you canâ&#x20AC;&#x2122;t tax businesses that are not doing well. When a company is making losses, it will make tax not work. And you can carry losses forward for a number of years, which means that if you make profit the following year, you are recouping and still will not pay full taxes. To cut it short, many countries use taxes to drive investments because low taxes means that it affects investments. And finally for me, we have to move away from the way we do our budget. This is because fiscal policy for me is about how we grow the economy; how we drag the economy to be attractive for investment and how do we use that investment to ensure that we can create more revenue sources and also to get people to pay more taxes. We have always focused on appropriation. So, every year the National Assembly prepares the budget and after a long debate, it turns into an appropriation bill. Many countries have moved away from the Appropriation Bill, into more of a Financed Bill, which reflects the fiscal policy of the government, which includes just numbers, how we are going to spend, and how we are going to drive revenue.

But if you want to make amendments to the tax law, you donâ&#x20AC;&#x2122;t have to wait until amendments start, you can use the Finance Bill every year, then treat the tax law regularly so that you can actually have revenue sources clearly in

Elebutu

the Finance Bill; drive revenue sources and itâ&#x20AC;&#x2122;s a more balanced document for everybody to understand and read because there you have the revenue side; thatâ&#x20AC;&#x2122;s the fiscal policy, you have the spending side based on recurrent and capital expenditure. And of course, one day, the oil revenues that we have today, will not be there, so we need to prepare for the long haul when the revenues from under there are no longer available.

In 2017, the federal government introduced the Voluntary Assets and Income Declaration

If you grow the economy, the people who are at the poverty level will move up the ladder, and the more they move up the income ladder, the need to pay taxes. And that is where the population is.

But those people at that bottom also, expect to see returns. They must see what the tax money is being used for

Scheme (VAIDS), which fell short of its target. Why do you think this program failed?

I think it failed because I donâ&#x20AC;&#x2122;t think that it was properly defined on exactly what they want to achieve and how they intended to achieve it.

I think it was rushed and again it was targeted at those people that have very high income as opposed to where you have the bottom of the pyramid where you want to increase the base.

For me, I donâ&#x20AC;&#x2122;t think it was properly thought through, nor properly implemented. And some of us knew up front that this thing wasnâ&#x20AC;&#x2122;t going to derive the numbers that they were looking for, so thatâ&#x20AC;&#x2122;s one. Coming back to broadening tax base, when you say broadening the tax base, you want people at the bottom of the pyramid to pay more taxes. Now clearly, in many countries, if you are earning below the poverty level, you shouldnâ&#x20AC;&#x2122;t pay taxes. Now the only way you help people who have nothing to survive to move up the ladder is that you must grow the economy. If you grow the economy, to about six per cent per annum, compounded in 10 years, you will double the GDP. If you grow at 10 per cent per annum, in six years you will double the GDP size. So, if you grew the economy, the people who are at the poverty level will move up the ladder, and the more they move up on the income ladder, the need to pay taxes. And that is where the population is. But those people at that bottom also, expect to see returns. They must see what the tax money is being used for. Primary healthcare for example, improved education, improving water availability,

community road networking, security etc. And if my income increases and I see those things happening, I will greatly pay taxes, and this is what improving the tax base means.

There has been a recent debate about Value Added Tax (VAT) and if it should be increased. What are your thoughts about this?

VAT is direct tax and itâ&#x20AC;&#x2122;s supposed to help tax consumption at the source of spending. So, if I can afford to go to a restaurant and pay N1,000 for a meal, I should be able to pay VAT. So, the person, who buys a car or a bottle of soft drink, would pay five per cent of the worth of the commodity. If I buy a car for N100 million, five per cent of that is a bigger number. The rate is the same, but the amounts you are paying is different based on what you consume. So that is the indirect tax. And in many developed countries, you will find out that indirect taxes are a lot more effective due to the fact that people spend much more money at the point of consumption. Sometimes, people spend more on activities not so noticeable. Take for instance, if I buy shares today, and I sell those shares, there is no capital gain tax on them, the profit that I make on those my shares, may N100 million and no taxes. But if I use that money to buy a car, I will pay VAT. So, VAT captures everybody who spends money at the point of spending.

Hence, it is more equitable and effective. VAT Continued on page 33

T H I S D AY Ëž Ë&#x153; ÍąË&#x153; Ͱ͎ͯ͡

33

ELEBUTU: LOWERING TAX RATES WILL ATTRACT MORE INVESTMENTS also means that you should be able to get tax refunds on things that are reversible. So, we have input tax and output tax. So I want to raise VAT rate to about 12 per cent, you must run it like a proper indirect tax. You must allow people to be able to apply for refunds when they are due for refunds. So if you want to move the tax rate, you are supposed to move to a proper VAT system, which means that there is a higher tax administrative burden to have a proper VAT system.

Do you support the thinking of the presidential candidate of the PDP in the last election that there is need to reduce taxes in order to attract investors?

Yes, clearly if you want make the economy more competitive, tax is another way to attract investments. And therefore, you will look at your tax rate compared with other competing countries and make a decision to be more competitive.

Secondly, by lowering tax rate, it brings more investments, people have more income to be able to make investments and also drive up savings, which is important for an economy to grow. And also, you want smaller companies to be able to survive at the early stage of growth, so you lower tax rate. And when they attain a particular threshold, you can then get them to pay higher tax rate. So, there are different ways, but overall, you need to have the fiscal policy that drives growth and investments in an economy. So, if you decide to do tax free period for a number of years or you want to have low taxes for small companies for a particular number of years, or for the informal sector, everything has to be in the context of - this is my fiscal policy; and we want to use the fiscal policy to drive economic growth, further investments and savings in the economy. But if it is not done in that context, then you will get pushed back, and people donâ&#x20AC;&#x2122;t understand why you are doing what you are doing. Also, if you lower taxes and donâ&#x20AC;&#x2122;t have a very strong system of tax collection, you could have much more leakages than the case may be. Bring taxing down, hopefully more people can come into the tax system. That is because if it becomes lower, more people who werenâ&#x20AC;&#x2122;t paying taxes before would start to pay, but you must also put in place a working tax system that would be able to discover those that were not paying before and bring them into the system.

How much impact does the failure of successive government to pass the Petroleum Industry Bill (PIB) has on the sector?

It is big because we have gone through a process to draft the PIB to where it is today. And in any kind of legislation, typically you bring stakeholders into the know of what you want to achieve. So, haven carried along stakeholders for a certain number of years, there is an expectation that the changes that we are recommending would come through in the bill and eventually in the Act. And therefore, companies were prepared to make certain investments because they are going to see a new Act that will drive investment and growth in that sector. So, you here many international companies saying: â&#x20AC;&#x2DC;We have approved certain billion dollars investments, but we are waiting for the PIB to be passedâ&#x20AC;&#x2122;.

So clearly, if you donâ&#x20AC;&#x2122;t pass legislation, those companies that were prepared to invest, will hold back investment. And not only that, there are also other companies who are outside the country, who are looking inward to say: â&#x20AC;&#x2DC;Will the PIB make Nigeria much more competitive and more attractive, than country Y, X or Z?â&#x20AC;&#x2122; And again there is that issue of competitiveness.

And if you are much more competitive than other countries, you will attract new investments to your country and hopefully drive growth, because what you need in any sector is investment. Look at the telecommunication sector for example, even though you only have three or four key players, they keep investing in much more infrastructure, etc.

Multiplicity of taxes by different tiers of government, how do we deal with this kind of problem?

I think we will go back again to the fundamentals. If you donâ&#x20AC;&#x2122;t grow an economy, people will always use all kinds of gimmicks to try and generate revenues rather and it is a shame. It is a real shame because, with lack of resources, political leaders or government agencies want to increase revenue, then you ask yourself, even the revenue they are collecting,

what should be the case. Secondly, on the capital side, what you have you are going to finance a budget with a massive deficit. That deficit means that you have to go and borrow from the market. And if you borrow from the market to fund your budget, you push up rates, and therefore it is more attractive for banks and other institutions to buy government bonds, than to lend to the real sector. The consequence is that you strangulate the economy. Once that happens, were do you now make the profits to pay the taxes that you want? Where do you now get the capital to import the goods and pay duties that you want to pay to the ports? What now happens; since you strangulate the economy, the revenue forecast you have on the tax side, on the Customs duty side, you wonâ&#x20AC;&#x2122;t meet it.

On the oil production side, oil price can affect it, volume of production can affect it, based on whatever happens from the oil producing areas such as vandalisation. So these things again, are the ones that control the budget. By the time you put all these things up, there are too many variables that may not make the budget to meet targets set for themselves. Until we really take a look at the way we spend money as a country, especially on the recurrent side, I am not so sure that any budget will make any meaningful impact. It is going to be very tough for them to achieve the kind of things they want to achieve within the kind of framework with which we operate.

Elebutu

what are they using it to do? You are in the port for example, and you want to clear a container, do you know how many agencies at the port that you have to go through? Everybody wants a slice of that container. And by the time the things you imported with the container get in for the consumer, they are not competitive. I know there are all kind of ways that the Joint Tax Board has tried to reduce the multiplication taxes, but fundamentally, until you grow the economy and the economy is growing much faster and more income is being generated by the growth of the economy, this thing wonâ&#x20AC;&#x2122;t stop.

But that is the function of the Joint Tax Board, why havenâ&#x20AC;&#x2122;t they been able to do that?

Even the Joint Tax Board, you know they sit once a month according to their calendar. But the point is that, they can make a pronouncement, but when a local government chairman says he is going to do XYZ taxes, how are they going to get to him? Who is going to prevent him from doing what he wants to do?

It took banditry for us to know that there have being illegal mining going on in Zamfara State; believed to be a very poor state. How do we get a situation where the government issues proper licences so that the state can benefit?

I agree with you entirely, but you see, in any economic activity, you have to have regulations; you need to have the ability to enforce compliance and have to be able to ensure that you can attract the right kind of investors into that activity. And

I think the government have to step back from doing too many things, and create a space for private sector to take a lead in the areas where they have better expertise.

It may sound simple, but it is complex. Why is the government running airports? Globally, no government runs airports any longer

if you do so, those investors who have proper governance and they have capital would exploit the resource, and pay the right royalties and taxes as well to those they are meant to pay to. But I donâ&#x20AC;&#x2122;t understand the whole nature of what is happening in Zamfara, so I canâ&#x20AC;&#x2122;t speak like I am an expert on the issue, but I have done work in the mining sector before. I have advised a mining client in Ghana several years ago, and it was an open surface mining, six hours away from Accra and it was a well organised activity with the international mining company working with the locals, using their capital in compliance with the mining code and paying taxes.

I spent a couple of weeks in there, I saw how they produce the gold, I saw the security they had, and there were several activities they had that they donâ&#x20AC;&#x2122;t have expertise but brought in expertise to actually make sure all were done accordingly. You know, anything you do, if you do it in line with global standards, you will attract the right capital. You will attract the right investment, you will bring the right skills and the benefit would be derived by the locals as well as the state absolutely. For example, where you have the oil producing states, are they not deriving the benefits in cash or in kind? Yes. Have they used it to develop their states so that their state reflects the activity in that place?

Not so much you will say. Even with what they have, have they shown any difference? So how can they get more allocation when they havenâ&#x20AC;&#x2122;t shown us what they did with what they are collecting first?

What is your take on the 2019 appropriation bill; do you think it is realistic especially with the input of the new minimum wage?

From my understanding, the way we do our budget, we use a benchmark oil price, that is the basis for which we compute almost everything, with the revenue line tied to the benchmark oil price. And of course, we also have revenues from taxes, duties etc. And we then have capital expenditure and recurrent expenditure. The biggest problem we have, I think not just from this budget, but from the previous, is that our recurrent expenditure ratio per capital is so high.

I think it is now 75 per cent recurrent and 25 per cent capital expenditure. There is no way that, that kind of ratio can drive growth. There were times when it was 60:40 or 50:50 for example, about 10 years ago. I think Lagos state does 40 per cent recurrent, 60 per cent capital. So because you have an over bloated federal government, the recurrent expenditure is much higher than

What about the inclusion of the N30,000 minimum wage into the budget?

I donâ&#x20AC;&#x2122;t have a problem with the minimum wage because at the end of the day, the people have to have a living wage. But the point is to make sure that a lot of people earning these wages add value. All of us have staff that we employed; but when you have a staff that you donâ&#x20AC;&#x2122;t really know why you employ him or her anymore, what do you do? You let them off.

But you carry these massive numbers of people, and these also add to the cost of funding the country. And the more you spend on recurrent, the less likely you are going to have economic growth in this economy.

Going forward, what would be your advice to the president in his next four years to really grow this economy in the way that you are anticipating?

I think the government have to step back from doing too many things, and create a space for private sector to take a lead in the areas where they have better expertise. It may sound simple, but it is complex. Why is the government running airports? Globally, no government runs airports any longer. Airport security is the issue they always point as an excuse, but yes, you still have securities in airports globally. But running of airports, management of airports, investing in airports infrastructure, attracting large carriers to come into your country, is not a government activity any longer. Concession the airports, privatise the refineries, concession much mini-airports, concession railways line and give them to the expertise that can run these infrastructure, and can put money into it and run it for 30 or 40 years. That is one space for example. Other space, look at sectors which you will like to attract investors, and approach the investors and ask them what they will like to see to make the sectors more attractive for them.

For instance, the auto industry; if you really thing you want to have an auto industry; after all Morocco produces 600,000 cars per annum, what will it take to bring some of the big car manufacturers? A big car manufacturer investing half a billion dollars, into an auto plant is small money for them. It is not a big money and they are not looking for returns in one year or two years, they are here for the long haul.

After all, we have big companies like Unilever, Heineken and Guinness, etc. They have been here for 30, 40, 50 years. And as they grow their business, they expand and build new factories. They are not going to go anywhere overnight. In terms of agriculture, we need to have a functioning commodity exchange. It wonâ&#x20AC;&#x2122;t just entail people coming to buy and sell, but all the inputs of the exchange such as your silos, storage, warehouses, your standards, market makers, off takers, etc, and just modernise the whole sector so that agriculture becomes not just a family business, but a real added value agri-business to the economy.

34

T H I S D AY Ëž Ë&#x153; ÍąË&#x153; 2019

BUSINESS/MONEYGUIDE

CITN Seeks Efficient Budget Implementation Chinazor Megbolu The Chartered Institute of Taxation of Nigeria (CITN) has stressed the need for proper implementation of the national budget for economic growth.

The organisation made this known during its 40th Induction ceremony held in Lagos recently.

It urged the government to invest in areas such as education to help boost the 2019 budget.

The President and Chairman of Council, CITN, Mr. Cyril Ede, in his address said government needs to increase productivity by investing in education aimed on quality over quantity. â&#x20AC;&#x153;By investing in education with emphasis on quality over quantity, it is a bold thinking that should be driving the 2019 budget, â&#x20AC;&#x153;he said.

He explained further that the budget does not align with the pulse and realities of the citizenry of Nigeria.

Ede, however, said there was need for the masses through civil engagement, to be involved in the policies of government. â&#x20AC;&#x153;The budget should inspire hope, resting on a philosophy of progress and not only on the churn of figuresâ&#x20AC;?. â&#x20AC;&#x153;The budget can do better in assuring Nigerians of the reversal in the observed gale of unemployment... More so, the budget ought to detail a plan of action beyond the statement of incomes and expenditures, â&#x20AC;&#x153;Ede said. Ede said the economy required about five million jobs yearly in order to reverse the unemployment trend in the country over

the past years.

According to him, â&#x20AC;&#x153;to achieve this, the economy needs to grow at an inclusive growth rate of between five to six per cent per annumâ&#x20AC;?.

Meanwhile, the Special Guest of Honour, Mr. Gabriel Fasoto, at the event, admonished the newly inducted members to up the scale of taxation practice and administration in the country and the world at large.

He also said there was need to equip themselves technically in a bid to be up to date in tax laws, tax jurisprudence and global tax practice. â&#x20AC;&#x153;Do not settle for less when handling a clientsâ&#x20AC;&#x2122; tax affairs.

You are to be more driven by expanding the frontier of tax knowledge rather than only the pecuniary interest, â&#x20AC;&#x153;Fasoto said.

Shareholders ApproveVFD Groupâ&#x20AC;&#x2122;s Dividend Pay-out Shareholders of VFD Group Plc have commended the board and management of the financial services group for recording an impressive performance in 2018, in spite of the challenging macroeconomic and regulatory environment.

The commendation was given at the third Annual General Meeting (AGM) of the Group and first as a Public Limited Company held in Lagos at the weekend. At the meeting, the shareholders also approved the financial results of VFD Group and payment of a cash dividend of N2.20k per ordinary share for the year ended December

31, 2018. This translated to a total amount of N251.5million.

Going by its audited accounts for last year, VFD Groupâ&#x20AC;&#x2122;s profit before tax (PBT) rose by 1,034 per cent to N687.39 million as against the N60.62 million it was in the preceding year.

Its gross earnings grew by 394 per cent to N2.9 billion, from N445.01 million for the same period in 2017. Commenting on the development and the financial results of the Group, Mr Segun Faloye, a shareholder expressed delight on the groupâ&#x20AC;&#x2122;s dividend payment. According to him, â&#x20AC;&#x153;This is an excellent result achieved by VFD Group

Plc and we are delighted with the performance of the board and management of the companyâ&#x20AC;?

Presenting his report, the Chairman of VFD Group, Mr. Olatunde Busari said, â&#x20AC;&#x153;In 2018, we focused on strengthening our corporate governance structure by the expansion of the board to 13 members and appointment of notable directors with requisite pedigree and experience to drive the long term objectives of the group.â&#x20AC;?

He also noted that, â&#x20AC;&#x153;the equity raised in December 2018 reflected investor confidence in the Group, its board of directors and growth trajectory.â&#x20AC;?

Sigma Pensions Pledges Improved Services Nume Ekeghe For retirees to have a better service and prompt payment of their pensions fund, they need to register with Sigma Pensions, a firm that is eager and ready to provide the needed prompt services as well as making the retirees happy always.

Speaking to retirees at a oneday forum held in Owerri, the Imo state capital, recently, the Head, Relationship Management, Business Development Division -East Sigma Pension, Mrs. Ophelia Alex-Iwuanyanwu, noted that the welfare of retirees and prospective retirees was their business.

According to her, over the years, â&#x20AC;&#x153;we have strived to improve our service delivery to you. We are determined to initiate fresh ideas of how to

compete for you. â&#x20AC;&#x153;We do not want to assume that what we are doing is good enough for you as we constantly want to do better.

Alex-Iwuanyanwu added: â&#x20AC;&#x153;Our promise to you has always been that we will work for you providing real and consistent returns on your pension contributions with us,â&#x20AC;? adding â&#x20AC;&#x153;we have no intentions of taking unnecessary risk, neither do we have intentions of relinquishing this promise to youâ&#x20AC;?.

She further said: â&#x20AC;&#x153;Today we have staff of the Pension Commission here to tell us of some of the things the commission is doing to ensure that things are easier for you retirees, for you as contributors and for us as administrators to ensure the contributory pension scheme (CPS) is a continuous successâ&#x20AC;?.

In his contribution, Mrs. Ngozi Ebili, a retiree from the defunct Power Holding Company of Nigeria (PHCN) observed that before the sensitisation programme some of their members had gone to other pensions schemes, even though they were not getting better services there than Sigma, but praised the organisers of the workshop for bringing the event closer to them in Owerri, even though the event was meant for the South East zone.

She said, â&#x20AC;&#x153;we wish the seminar will be regular so that we will be on the know of what is happening to our contributions. â&#x20AC;&#x153;I am proud of Sigma Pensions because we receive our alerts before the end of every month. We want them to continue.â&#x20AC;?

Online Marketing Firm Unveiled JONLiZmarket.com, an online market has launched an online advert and shopping platform .

The platform was designed for millions of online shoppers who prefer to shop for their choice products such as electronic gadgets, kitchen wares, fashion items and clothing, household appliances, groceries etc, all from the comfort of their homes.

Aside shopping, JONLiZmarket.com also has spaces for vendors who may want to advertise their wares on its platform without commission.

The CEO of the company,

Prince Olaniyi Karounwi, while speaking at the event, said, â&#x20AC;&#x153;this is where we are unique.

There is a bond between us and our vendors, and so we do not receive a single kobo as commission on sales of any goods by our vendors because, we believe this platform is to assist Nigerians, and not to exploit themâ&#x20AC;?.

Karounwi also added that, â&#x20AC;&#x153;we pay more attention to quality than high volume because we want to be known for quality delivery, so any product bought from JONLiZ.com goes through

quality control unit for verification and warranty check before transferring to customersâ&#x20AC;?.

The company which returned to Nigeria after nine years of successful ventures outside the country is armed with experiences it has garnered over the years. According to Karounwi, â&#x20AC;&#x153;We have successfully operated outside the country, and have decided to also invest here, so we are ready to compete with existing market in the e-commerce with the aim of providing our people, high class service delivery â&#x20AC;&#x153;

L-R: Head, Research/Development, Krystal Digital, Mr. Adebisi Tolulope; Group Managing Director, Investment One Financial Services Limited, Mr. Nicholas Nyamali; Member, Lagos Angel Network, Olanike Jagun; Chairman, Investment One Financial Services Limited, Mr. Egbert Imomoh; and Managing Director, BIC Consultancy Services, Dr. Boniface Chizea, at the Investment One Vencap SME mentorship scheme held in Lagosâ&#x20AC;Ś recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

NOVEMBER 2018 Money Supply (M3)

31,794,803.44

-- CBN Bills Held by Money Holding Sectors

6,333,064.28

Money Supply (M2)

25,461,739.17

-- Quasi Money

14,773,076.98

-- Narrow Money (M1)

10,688,662.18

---- Currency Outside Banks

1,711,763.59

---- Demand Deposits

8,976,898.59

Net Foreign Assets (NFA)

18,990,400.78

Net Domestic Assets(NDA)

12,804,402.66

-- Net Domestic Credit (NDC)

26,062,986.22

---- Credit to Government (Net)

2,980,229.66

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

7,093,619.43

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

-4,144,571.43

---- Credit to Private Sector (CPS)

23,082,756.56

--Other Assets Net

13,258,583.57

Reserve Money (Base Money

6,811,192.37

--Currency in Circulation

2,100,129.91

--Banks Reserves

4,366,259.05

Ëž Ă&#x2122;Ă&#x;Ă&#x153;Ă?Ă? Ě&#x2039;

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

Ëž Ă&#x2122;Ă&#x2DC;Ă?Ă&#x17E;Ă&#x2039;Ă&#x153;ĂŁ Ă&#x2122;Ă&#x2013;Ă&#x201C;Ă?ĂŁ Ă&#x2039;Ă&#x17E;Ă? Ě&#x2039; ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS AT THURSDAY,30 MAY 2019

The price of OPEC basket of fourteen crudes stood at $67.10 a barrel on Thursday, compared with $67.75 the previous day, according to OPEC Secretariat calculations.

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

SOURCE: OPEC headquarters, Vienna

35

T H I S D AY Ëž Ë&#x153; ÍąË&#x153; 2019

MARKET NEWS

May & Baker Assures Shareholders of Improved Performance Goddy Egene The Chairman, May & Baker Nigeria Plc, Lt. Gen. Theophilus Danjuma (rtd), last week assured shareholders of improved results from the business this year and beyond.

Danjuma, who gave the assurance at the annual general meeting (AGM) held in Lagos, said the company had committed N541.3 million to construct a dedicated plant for one of its

major products while it has also invested additional N437.2 million in Biovaccines Nigeria Limited, its joint venture with the federal government.

He added that the firm had invested additional capital of N1.86 billion raised recently in a right issue in its business to create enhanced opportunities for sustained growth.

Danjuma noted that despite the discontinuation of some key products due to industry-wide

P R I C E S MAIN BOARD

F O R DEALS

regulatory directives and sale of its noodles business, the company has continued to grow its revenue through aggressive new product introductions and promotion of existing products.

According to him, as part of new strategic initiatives, the company is investing in key therapeutic areas such as sickle cell anemia and a number of new pharma, nutraceutical and herbal products.

He pointed out that the

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

company had signed four memorandum of understanding with the Federal Ministries of Health and Science and Technology to produce and commercialise a sickle cell drug and nutraceutical products developed by the National Institute for Pharmaceutical Research and Development (NIPRD) and the Federal Institute of Industrial Research, Oshodi (FIIRO). â&#x20AC;&#x153;The investment attraction of our company lies in the future

T R A D E D MAIN BOARD

A S

as we continue to drive our growth and expansion strategies.

Our strategic investments and growth initiatives in our core competence area, healthcare, will boost returns in the years ahead.

I encourage you to maintain faith and optimism in the prospects of our company,â&#x20AC;? Danjuma said.

Similarly, Managing Director, May & Baker Nigeria Plc, Mr Nnamdi Okafor, assured shareholders that the management of the company remains

O F

committed to sustaining the companyâ&#x20AC;&#x2122;s growth.

He said the continuing improvement in the underlying fundamentals of the company underscored the success of managementâ&#x20AC;&#x2122;s tight cost control measures.

Shareholders commended the company for sustaining growth.

Shareholders unanimously approved the payment of N345.05 million as cash dividend for the 2018 business year.

3 0 / 0 5 / 2 0 1 9 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ MONDAY, JUNE 3, 2019

36

7 R S 7 U D G H V E \ 9 R O X P H T ic k er

Vo lum e

P ric e C hg %

7 R S * D L Q H U V T ic k er

P ric e C hg %

UB A

44.0

-5.3%

M A N SA R D

1.98

10.0%

GUA R A N T Y

25.6

-1.3%

LEA R N A F R C A

1.34

9.8%

C UST OD IA N

20.7

0.0%

CCNN

15.00

7.1%

A C C ESS

16.5

-2.4%

D A N GF LOUR

16.85

5.3%

F ID ELIT YB K

15.7

-4.5%

C OUR T VILLE

0.24

4.3%

Z EN IT H B A N K

11.2

-2.2%

LIN KA SSUR E

0.50

4.2%

FB NH

10.3

-1.4%

J A P A ULOIL

0.28

3.7%

OA N D O

6.9

-9.7%

A F R IP R UD

3.63

2.5%

T R A N SC OR P

6.5

-1.7%

FO

27.50

2.2%

FCM B

5.8

-2.4%

ST ER LN B A N K

2.30

2.2%

7 R S 7 U D G H V E \ 9 D O X H T ic k er

Afrinvest West Africa Limited

P ric e

7 R S / R V H U V

Value

P ric e C hg %

GUA R A N T Y

814.3

-1.3%

T ic k er OA N D O

P ric e

UB A

280.8

-5.3%

C H A M P ION

D A N GC EM

246.8

-0.2%

N EST LE

229.2

Z EN IT H B A N K

226.5

M TNN

150.4

C UST OD IA N

130.2

A C C ESS

101.5

GUIN N ESS

87.9

-4.0%

NB

FB NH

72.3

-1.4%

WEM A B A N K

P ric e C hg %

4.20

-9.7%

1.01

-8.2%

WA P C O

10.10

-5.6%

-0.3%

UB A

6.25

-5.3%

-2.2%

F ID ELIT YB K

1.68

-4.5%

0.4%

N A SC ON

16.25

-4.4%

0.0%

GUIN N ESS

48.50

-4.0%

-2.4%

H ON YF LOUR

1.10

-3.5%

58.00

-3.3%

0.64

-3.0%

Brokerage

Asset Management

Investment Research

Ayodeji Ebo | aebo@afrinvest.com

Ola Belgore | obelgore@afrinvest.com

Robert Omotunde | romo-

Adedoyin Allen |

Oluwarotimi Ashimi | oashimi@afrinvest.comJolomi Odonghanro |

37

MONDAY, JUNE 3, 2019 ˾ T H I S D AY

MARKET NEWS

Meristem Group Wins Awards, Pledges More Investment in Tech Goddy Egene Meristem Group has pledged more investment in adequate human and technological capabilities to ensure that it provides timely and accurate information to its clients.

Head of Research at Meristem Group, Kemi Akinde disclosed this while receiving the best forecasting research team in Nigeria award won

by Meristem Research at awards organised by Focus Economics.

Meristem Research was awarded the overall best forecaster in Nigeria in 2018 ahead of many global forecasting institutions.

According to Akinde, being voted as the best overall research team is a confirmation of the importance that the Meristem Group places on research and analyses as a backbone

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

of decision-making.

“We are highly delighted to have won these awards. We know we place much emphasis and invest so much in our research capabilities and being confirmed by a global organisation is an exciting one for us,” Akinde said.

She assured clients and other stakeholders that Meristem would continue to adhere to

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 30-

best global practices to ensure that it continuously surpass their expectations.

Meristem Group was adjudged the best forecasting research team in Nigeria, further demonstrating the underlying success points of Nigeria’s leading investment and wealth management group.

At the awards organised by Focus Economics, Meristem

Research was awarded the overall best forecaster in Nigeria in 2018 ahead of many global forecasting institutions.

Also, for the second year running, Meristem Research won the award for best forecaster of Nigeria’s Exchange Rate, along with being the best in Gross Domestic Product (GDP) forecasting for the country.

Focus Economics is a leading

provider of economic analysis and forecasts for 130 countries in Africa, Asia, Europe and the Americas, as well as price forecasts for 30 key commodities. The company is supported by an extensive global network of analysts.Since its launch in 1999, Focus Economics has established a solid reputation as a reliable source for timely and accurate business intelligence.

May-2019, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.88 0.89 4.43% ACAP Income Funds 0.76 0.76 33.67% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 13.23% AIICO Balanced Fund 2.30 2.33 3.66% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 15.90 16.38 -4.18% ARM Discovery Fund 350.53 361.10 -1.71% ARM Ethical Fund 29.35 30.23 3.92% ARM Money Market Fund 1.00 1.00 13.19% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 97.85 98.54 -3.30% AXA Mansard Money Market Fund 1.00 1.00 12.43% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 13.62% Paramount Equity Fund 11.81 12.11 0.84% Women's Investment Fund 104.23 106.90 1.62% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 12.57% Cordros Milestone Fund 2023 98.91 99.37 Cordros Milestone Fund 2028 98.87 99.18 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 12.35% Coronation Balanced Fund 0.83 0.84 Coronation Fixed Income Fund 1.19 1.19 6.68% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 12.19% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 12.17% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund N/A N/A N/A FBN Heritage Fund 144.91 145.90 1.49% FBN Money Market Fund 100.00 100.00 12.94% FBN Nigeria Eurobond (USD) Fund - Institutional N/A N/A N/A FBN Nigeria Eurobond (USD) Fund - Retail N/A N/A N/A FBN Nigeria Smart Beta Equity Fund 140.97 142.97 -6.02% FIRST CITY ASSET MANAGEMENT LTD fcamhelpdesk@fcmb.com Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 11.28% Legacy Debt Fund 3.41 3.41 5.03% Legacy Equity Fund 1.13 1.15 -7.12% Legacy USD Bond Fund 1.05 1.05 1.94% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 2,987.71 3,017.55 0.11% Coral Income Fund 2,899.92 2,899.92 5.85% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 10.73% Nigeria Entertainment Fund 108.29 108.71 0.56% GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund 10.00 10.00 12.94%

INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 12.42% Vantage Balanced Fund 2.16 2.19 0.75% Vantage Guaranteed Income Fund 1.00 1.00 15.99% Kedari Investment Fund (KIF) 131.13 131.22 4.92% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.21 1.23 5.75% Lotus Halal Fixed Income Fund 1,102.94 1,102.94 5.64% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 120.30 120.67 -0.43% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 5.89% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,356.75 2,370.45 1.84% Stanbic IBTC Bond Fund 201.63 201.63 6.04% Stanbic IBTC Ethical Fund 0.92 0.94 -2.11% Stanbic IBTC Guaranteed Investment Fund 255.45 255.56 5.39% Stanbic IBTC Iman Fund 159.16 161.08 -2.40% Stanbic IBTC Money Market Fund 100.00 100.00 12.77% Stanbic IBTC Nigerian Equity Fund 8,101.72 8,204.76 -4.53% Stanbic IBTC Dollar Fund (USD) 1.11 1.11 2.54% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.19 1.20 -0.15% United Capital Bond Fund 1.69 1.69 6.26% United Capital Equity Fund 0.68 0.69 -3.86% United Capital Money Market Fund 1.00 1.00 13.10% United Capital Eurobond Fund 110.79 110.79 3.29% United Capital Wealth for Women Fund 1.12 1.12 2.41% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 10.78 10.96 2.42% Zenith Ethical Fund Zenith Income Fund Zenith Money Market Fund

11.60 21.86 1.00

11.76 21.86 1.00

-0.01% 13.34% 11.84%

REITS NAV Per Share

Yield / T-Rtn

5.40 120.90 52.38

-44.85% 2.69% 1.24%

Bid Price

Offer Price

Yield / T-Rtn

10.07 100.94 83.72

10.17 103.08 85.27

-4.54% -13.95% -5.58%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.66 6.34 13.62 11.20 155.55

3.70 6.42 13.72 11.40 157.55

-8.48% -16.76% -8.86% -9.34% 8.31%

NAV Per Share

Yield / T-Rtn

106.90

17.40%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

38

T H I S D AY Ëž ÍąË&#x153; Ͱ͎ͯ͡

CITYSTRINGS

Ă&#x153;Ă&#x2122;Ă&#x;Ă&#x161; Ă?Ă&#x2039;Ă&#x17E;Ă&#x;Ă&#x153;Ă?Ă? Ă&#x17D;Ă&#x201C;Ă&#x17E;Ă&#x2122;Ă&#x153;Ë? Ă&#x2019;Ă&#x201C;Ă?Ă&#x2014;Ă?Ă&#x2013;Ă&#x201C;Ă? äĂ?Ă&#x2122;Ă&#x152;Ă&#x201C; Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013; Ă?Ă&#x2019;Ă&#x201C;Ă?Ă&#x2014;Ă?Ă&#x2013;Ă&#x201C;Ă?Ë&#x203A;Ă?äĂ?Ă&#x2122;Ă&#x152;Ă&#x201C;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;Ë&#x153; Í&#x2018;Í&#x2122;Í&#x2019;Í&#x2013;Í&#x201C;Í&#x201C;Í&#x2013;Í&#x201C;Í&#x201D;Í&#x201C;Í&#x2013;

Rippling Effect of Theft of Manholes, Crash Barriers The rippling effect of the increasing theft of manholes, crash barriers and bridge railings in Lagos State recently came to bare with the death of Adewura Lateefat Bello, who fell into an open manhole during a flood and was swept away

O

n Wednesday, June 29, 2016, the Rapid Response Squad (RRS) of the Lagos State Police Command, re-arrested one Godwin Nwankwo, for vandalising and selling off bridge railings, crash barriers and manholes, barely 18 days after he had regained his freedom for same offence. The 23-year-old suspect, had been released from the State Criminal Investigation and Intelligence Department (SCIID), Panti, Lagos, after he was arrested vandalising bridge railings and barriers at Ijora Bridge.

He was caught in the act as he was bringing out some cut-to-size railings and crash barriers from manholes which were meant to reinforce Ijora Bridge from vibrating, as well as protect vehicles from falling from the bridge.

In his confession, Nwankwo had divulged how he sold the stolen railings to one Alhaji Talimu Sanni and another man, that was at large at the point, in Ijora area of the state. His revelation to the interrogators resulted in the arrest of one of the main receivers of the stolen railings, Sanni, who confessed that he indeed collected the items.

Rippling Effect Because of such people as Nwankwo and Sanni, a receiver of such stolen goods, the dreams of a promising young lady, Adewura Lateefat Bello, was cut short. The 26-year-old, was found dead on Sunday, May 26, 2019, exactly 12 days after she went missing.

For the Bello family, the recovery of the dead body of their daughter dashed their hopes of finding her alive. She was found floating in a canal at the Iyana Ipaja area of Lagos, 12 days after she was declared missing. The 26-year-old went missing on May 15, 2019 in Lagos and was last sighted by her colleague who was said to have dropped her off at Medical Road opposite Ikeja Bus Terminal and at about 6pm of same day, she had reportedly told her sister that she was around Cement busstop on her way home. That was the last anyone heard of her.

The family raised an alarm on social media and a public search began for the deceased, who was fondly referred to as Wura. After the family reported to the police, her phone number was tracked to Badagry but she wasnâ&#x20AC;&#x2122;t found until 7pm on Sunday when her family identified her corpse. According to Twitter user, @ OfficiallBmax, who broke the news, he said Wura's body was discovered in a canal.

But according to THISDAY findings, on the day she went missing, she had boarded a bike in the downpour to hasten her journey home and on getting to a flooded road, the motorcyclist was reportedly warned by onlookers to wait for better visibility, but he ignored them and attempted to ride through the flood.

Although they both ended up being swept away by the flood, the motorcyclist however survived, and was immediately apprehended by onlookers and handed over to the police but Bello on the other hand was unlucky as she was swept into a canal through a wide-opened manhole.

When contacted, the state Police Spokesman, DSP Bala Elkana, had ruled out abduction given that no ransom was demanded.

According to him, every kidnap case must have an evidence, and the kidnappers would have contacted someone to demand ransom, which was not the case in this matter.

He said: â&#x20AC;&#x153;A body has been recovered at a canal in Ipaja, but it can't be concluded yet if it is her body as the body was already decomposing. At this point, the police have to depend on a medical examination to ascertain whose body it is, as the body has already been taken for medical examination.â&#x20AC;?

Nwankwo with the stolen bridge railings after he was arrested by RRS in Lagos

Late Bello Vandalism in Lagos Manholes, which are also called utility, sewer or maintenance holes; cable, access or inspection chambers, are the top opening to an underground utility vault, which is used to house an access point for connections, inspection, valve adjustments or performing maintenance on underground and buried public utility and other services including water, sewers, telephone, electricity, storm drains, and even gas.

Over the years, Lagos has been burdened with theft of such manhole covers, which cost the Lagos State Government huge sums of tax payersâ&#x20AC;&#x2122; monies. Asides manholes, crash barriers and bridge railings are also high risk.

From Isolo to Oshodi, Ikeja, Surulere, Lawanson, Ijora abridge, Eko Bridge, Victoria Island, Ogba, and Jakande Estate, the story remains the same; stolen railings and manhole covers.

In 2012, the state government had to replace 241 manhole covers between June and December. In 2013 too, 100 manholes

An open manhole and 500 gratings were replaced too. This continuous vandalism is disturbing and worrisome because the thieves sell them for pecuniary gains to the scrap metal collectors.

It was for this reason in 2016 that the state government as at then fabricated recycled plastic of composite resin fibre quality, which has zero market value, to ameliorate the incessant theft, yet it wasnâ&#x20AC;&#x2122;t a deterrent.

However, some of these covers are removed by hoodlums to enable them extort drivers whose vehicles breakdown when they drive into such holes.

In this administration, the Lagos State Ministry of Works and Infrastructure during its 2017 ministerial briefing in May, had revealed to install inner locks on the manhole covers to prevent theft. This was disclosed by the Permanent Secretary in the ministry, Mr Temidayo Erinle. But despite such measures by the state government, those whose stock in trade is to pilfer such essentials continue to have a field day.

Consequences Removal of manhole covers and gratings has enormous consequences. This trend, apart from the collateral cost in terms of repairs, also affects lives and properties, as was the case of Bello, who was killed because of a stolen manhole cover.

In some cases, this act have caused accidents, which had culminated in destruction of properties and even loss of human lives in some cases. It also retards growth and development of any society that battles the anomaly.

Also, theft of manholes incur huge expenses for vehicles in terms of repairs because most of them have had their tyres pull off once they enter uncovered manholes while on speed.

Given the recent incident that claimed the life of Bello, a chartered accountant, the anomaly of open manholes have again been brought to the front burner with many charging the government to rise up to its responsibility and make the roads worthy for use.

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T H I S D AY Ëž ÍąË&#x153; Ͱ͎ͯ͡

CRIME&SECURITY

Corporate Guard Introduces Female Security Pilot Scheme Sunday Ehigiator

C

orporate Guard, a leading security and safety outfit based in Lagos, with operations in over 30 states across the country, has continued to spearhead innovative service delivery in security and safety with the recent introduction of a new scheme known as 'Female Security Pilot Scheme', in Lagos.

With the scheme which includes the deployment of females as pilot drivers, the status of females in the security sector has been elevated, as they are now to play roles just like their male counterparts, who over the years are the only ones employed as pilot drivers by both public and private sector outfits.

Speaking on this new scheme, the head of Corporate Guard, Captain Cynthia Ojemudia, disclosed that it is in line with the companyâ&#x20AC;&#x2122;s matrix of adding value to the sector through constant innovation and changing the face of security in the country.

She added that the scheme was informed by the prevailing

security situation in the country, which requires everyone; both male and female, to be security conscious and alert in securing themselves and their environment.

According to her, â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;it was informed by the prevailing security situation of the time and it is to change the face of private security in the country.

"The female security pilots are skilled drivers, trained and equipped with defense and security skills and tools.

With this, security of people who use the service are not only enhanced but guaranteed as the female pilots are well trained in security and defense driving, with a security mind and very conscious and aware of their environment. â&#x20AC;&#x153;They operate with the added advantage of being able to â&#x20AC;&#x2DC;turn your car into a weapon when necessary in an emergency or threatening situation by ensuring that the passengers are safely piloted to a secured environment and out of danger and reach off their target.â&#x20AC;?

Speaking of the societal confidence on the scheme, she said the society will have confidence in

the scheme because â&#x20AC;&#x2DC;'people feel safer with women and women too are more dutiful and committed to their task. Nothing for anyone to be afraid of seeing the faces of the pretty looking pilots behind the wheel."

On future employment, she said the scheme also "offers opportunities for females wishing to pursue a career in the sector as it is opened to females with school certificates and university degrees including OND and HND. Besides the educational qualification and other added proficiency skills, they are put through a two month rigorous training in security and defensive drills, including professional and security driving by the training arm of the outfit.

"The service is opened to both corporate bodies and individuals requiring professional security outfit to cater for their security and safety round the clock,â&#x20AC;? she said.

As part of the safety measures, she said the female pilots are insured while the clients are also expected to be insured as well as the vehicles, with the brand of vehicles deployed for the service

ranging from either manual or automatic Jeeps, SUVs, vans to buses.

On affordability, she said, "Our service is pocket friendly and

very affordable for those who really need the service and appreciate it. And it provide users with necessary security checks before any trip is embarked on."

Top to bottom: Some of the personnel of the Female Security Pilot Scheme

Abia Moves to Revive â&#x20AC;&#x2DC;Bakassi Boysâ&#x20AC;&#x2122; to Protect Schools, LG Headquarters Emmanuel Ugwu in Umuahia

Abia State Government has revealed plans to revive the state vigilance services (AVS), popularly known as â&#x20AC;&#x2DC;Bakassi Boysâ&#x20AC;&#x2122;, to protect educational facilities across the state.

It was gathered that they would also provide security at the headquarters of the 17 local governments of the state.

Commissioner for information, Mr.

John Okiyi made this known at a press briefing on the outcome of state executive council meeting, saying that the re-engagement of the Bakassi Boys for security operations was among the major decisions taken at the meeting. â&#x20AC;&#x153;We want them to focus on the protection of educational infrastructure in the state and also protect the local government headquarters,â&#x20AC;? he said, adding, â&#x20AC;&#x153;thatâ&#x20AC;&#x2122;s going to be their primary

function this timeâ&#x20AC;?.

To reinvigorate the AVS, the government spokesman added that over 800 able bodied young men and women would be recruited and thoroughly screened to ensure that misfits wonâ&#x20AC;&#x2122;t find their way into the security outfit.

Okiyi explained that government was worried at the rate facilities were being vandalised at Abia schools by hoodlums, who also turn school premises into their

den for engaging in drug abuse and other criminal activities.

According to him, it is not uncommon to hear that hoodlums raid schools and remove ceiling fans in classrooms and cart away laboratory equipment.

The commissioner said that government could not afford to fold its arms and watch miscreants constitute stumbling block in efforts being made to improve educational facilities in public schools.

Security OutďŹ t Canvasses Protection for Children Funmi Ogundare

Halogen Security Company Limited, an integrated security risk solution company, has appealed to parents to equip their children with basic security education to enable them beat possible threats of kidnapping and child abuse.

In a message to about 1,000 children drawn from 20 primary and secondary schools who participated in a 2019 Childrenâ&#x20AC;&#x2122;s Day seminar organised

by Child Safety Education and Protection Initiative (CSEPI), in Lagos, aimed at improving

child protection, Halogen Security noted that a child with high sense of security and better safety skills will surmount any kidnapping attempt and abuse.

Speaking at the programme held recently at the Adeyemi Bero Auditorium, Alausa, Ikeja, the Executive Director, Physical Security Solution, Mr. Bosun Sosanya said early-childhood security education is key to a safer community and secured daily living.

According to him, â&#x20AC;&#x153;it is essential for our children to have good knowledge of security and

safety tips. As parents, teachers and caregivers we should start teaching our children some basic security tips. â&#x20AC;&#x153;They must learn to speak out when they see something strange. Children need to develop and practice keen observation of their environment by identifying strange developments or movement around them. â&#x20AC;&#x153;Always consider your environment, landmarks, and people wherever you are.

Having such knowledge are basic safety instincts capable of helping them escape attacks

and molestation.â&#x20AC;?

He added that his organisation is passionate about children, youths and community safety, adding that this informed why the company is supporting CSEPI as a way of encouraging them to remember important details, record observations and write down notes of presentations as necessary.

The President of CSEPI, Mr. Richard Amuwa in his presentation also advised children not to walk alone, take short cuts or deserted areas, dress decently and in case of emer-

gency know how to dial the emergency numbers 767 or 112 among many other tips.

The excited students, pupils, school owners, parents and representatives of government education regulatory bodies who witnessed the seminar, were treated to presentations from officials of Lagos State Fire Service, the Lagos sector command of the Federal Road Safety Commission (FRSC), the child protection unit of the Nigerian Police, and representatives of Lagos State Security Trust Fund (LSSTF) among others.

40

MONDAY JUNE 3, 2019 â&#x20AC;¢ T H I S D AY

MONDAY JUNE 3, 2019 â&#x20AC;¢ T H I S D AY

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MONDAY JUNE 3, 2019 â&#x20AC;¢ T H I S D AY

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MONDAY JUNE 3, 2019 â&#x20AC;¢ T H I S D AY

MONDAY JUNE 3, 2019 ˾ T H I S D AY

45

NEWSEXTRA

ACF, Ohanaeze Ndigbo Ask Buhari to Tackle Insecurity, Unemployment Christopher Isiguzo in Enugu and John Shiklam in Kaduna The Arewa Consultative Forum (ACF) and the apex Igbo sociocultural organisation, Ohanaeze Ndigbo have asked President Muhammadu Buhari to use the opportunity of his second term to create job opportunities and also address the frightening state of insecurity in the country, stressing that the insecurity and unemployment were gradually getting out of hands.

Speaking in an exclusive interview with THISDAY, the Deputy Publicity Secretary of Ohanaeze Ndigbo, Mazi Chuks Ibegbu, also asked the president to ensure that Federal Character Principle was effectively reflected in his second term.

“The president must see the entire nation as his constituency.

The idea of 95 per cent against five per cent must be done away with in the interest of the country,” Ibegbu said.

The organisation however noted that it was yet to congratulate President Buhari on his re-election because the outcome of the election was still being challenged at the Presidential Election Petitions Tribunal.

It therefore asked the tribunal to speedily resolve the matter “so that business of governance will not be hampered.

“Ohanaeze Ndigbo is conscious of the Election Petition tribunal.

We advise the tribunal to discharge their duties with fear of God. On no account must they compromised or influenced by anybody,” Ibegbu noted On his part, the Secretary General of ACF, Mr. Anthony Sani, asked President Buhari to tackle

insecurity, unemployment and consolidate on the fight against corruption in the next four years.

Speaking in a telephone interview with THISDAY in Kaduna, Sani noted that Nigerians have abiding faith in Buhari by re-electing him for a second term of office, adding that the cannot afford to fail them.

“My expectations from President Buhari’s second term is for the regime to deliver on its campaign promises which include consolidation of what was achieved in the first term by way of fighting insecurity and taming corruption in order to pave the way for the economy to be diversified away from over

dependence on oil wealth,“ he said.

He added that “specificities, the regime should ensure there are enough number of trained and well equipped police personnel who can protect lives and properties of most Nigerians.”

He called for sustained improvement in management practices of tax collection, explaining that when people pay taxes they are more likely to be civil, patriotic and to hold public officers accountable.

According to him, “the legal corruption which allows public officers to collect salaries and allowances that are over and above what the economy can sustained

should be looked into for express purpose of freeing resources for socio-economic development.

Sani said public officers should “deliver services that are commensurate with what they are paid and should not live far above the standard of lives of the citizens.”

He said further that “ex governors in the senate and in the cabinet should not collect double pay and allowances that are far above their contributions,“ stressing that “such practices lead to creation of undue inequality in the system and make politics to be the only industry in town and the shortest cut to facile wealth at the expense of productivity,

hard work and integrity.”

He called for the introduction of policies and programmes that will generate employment opportunities to the teeming youth.

“This cannot be over emphasised, considering unemployment is the major challenge in the economy.

Since most Nigerians have re-elected PMB, it means most Nigerians believe that despite some observed shortcomings in the last tenure that are natural concomitant of human frailties, the general belief is that the President is still the best who can take the nation out of the woods by way of reduction of austerity in the second tenure,” Sani said.

UNGA Presidency Election: Buhari Sends Delegation to NewYork Ahead of election for the presidency of the United Nations General Assembly (UNGA) on June 4, President Muhammadu Buhari yesterday sent a federal government delegation to support Nigeria’s candidate, Tijjani Muhammad- Bande.

If he wins, Bande, who is the Permanent Representative of Nigeria to the UN, will become the second Nigerian to be elected President of UNGA. Major General Joseph Garba (rtd) who previously served as foreign affairs minister under the then military government, held the position between 1989 and 1990.

The Permanent Secretary, Ministry of Foreign Affairs, Mustapha Sulaiman, is leading the delegation, according to a statement issued by presidential spokesperson, Mr. Garba Shehu, stated.

Other members of the delegation are the Director General, National Intelligence Agency (NIA), Ahmed Abubakar; Executive Secretary, Petroleum Technology Development Fund (PTDF), Bello Gusau; and Senior Special Assistant to the President on Media and Publicity, Garba

Shehu.

“President Buhari is confident that Nigeria’s Presidency of the 74th session of the UN General Assembly will provide a unique opportunity for Nigeria to lead the global call to tackle the political, social, economic and environmental challenges facing the world,” Shehu said in the statement.

“Nigeria looks forward to working with UN member states to promote international peace and security, prevent conflict, strengthen global action to tackle climate change, ensure inclusion, human rights, and empowerment of youth and women.

“Nigeria hopes to build on progress made under Ecuador’s Presidency of the 73rd Assembly led by María Fernanda Espinosa Garcés, and further promote key themes that President Buhari has championed on the global stage since 2015, which include climate change, combating terrorism and violent extremism, and establishing functional anti-corruption mechanisms to assist countries like Nigeria to recover and repatriate stolen funds.”

ABUTH Records First Breakthrough in Open Heart Surgery Victor Ogunje in Ado Ekiti A team of medical experts at the Multi -system Afe Babalola University Teaching Hospital, Ado Ekiti (ABUTH) in collaboration with their foreign partners, have recorded a major breakthrough in open heart operation in the hospital.

This was disclosed at a ceremony held at the university marking the review of the landmark and successful cardiovascular surgical operations.

During the review, the team of experts led by Professors Tayo Adeleke and Paul Davies, USbased Cardiologists, disclosed that they were able to record successes in all the patients operated upon due to the dexterity of the medical

personnel in ABUTH and good equipment in the hospital.

Adeleke advised that for the heart to be in good shape, all Nigerians must conduct a routine check on their blood pressure, which has been identified as the chief cause of heart failure globally.

Adeleke added that the experts from the US have successfully performed over 10,000 open heart surgeries for a period spanning 21 years.

He added: “High blood pressure is a silent killer. It is the major cause of kidney failure, heart failure and sudden death among our population.

“The life expectancy in Cuba is 81, that of USA is 80, so for Nigeria, which life expectancy is less than 50 to get to that level, the focus must be on the health sector.

70 HEARTY CHEERS…

L-R: Chairman of the occasion, Ogbueshi Ben Osuno; celebrant, Dr. Layi Fatona; his wife, Dr. Toyin Fatona; Compere/Director at Niger Delta Exploration & Production Plc (NDEP), Mr. Osten Olorunshola; and the Guest Speaker, Bayo Akinpelu during a public lecture tagged ‘‘Will the World Need Nigeria’s Oil in the Future,’’ held to mark Fatona’s 70th birthday in Lagos…weekend

EFCC, SEC Partner to Combat Capital Market Crimes Ndubuisi Francis in Abuja The Securities and Exchange Commission (SEC) and the Economic and Financial Crimes Commission (EFCC) have agreed to collaborate in combating crime in the Nigerian capital market.

The agreement was reached when the SEC management met with the management team of the EFCC at the EFCC corporate headquarters in Abuja at weekend.

Acting DG of the SEC, Ms. Mary Uduk who led the team, said the visit was necessary in order to close ranks in the

face of re-awakening of Ponzi schemes, cybercrime and other fraudulent activities that have engulfed the market in the last few years.

Uduk also stated that the visit was aimed at revisiting the Memorandum of Understanding (MoU) signed between the SEC & EFCC on January 19, 2017.

According to Uduk, some areas where the MoU seeks Cooperation of both agencies includes training, secondment of middle cadre officers of the SEC to the EFCC and those of the EFCC to the SEC, cross boarder asset

seizure, repatriation of stolen funds from the capital market and prosecution of offenders amongst others.

“We have had reasons to work together on some cases in the past. There is no better time for the SEC and EFCC to collaborate more closely than now,” she added.

Responding, the Ag. Chairman of the EFCC, Mr. Ibrahim Magu thanked the executive management of the SEC for the gesture and stressed the need to strengthen collaboration between both agencies.

Magu also assured the SEC team of the EFCC’s support in

ensuring that clauses embedded in the MoU are executed given the magnitude of fraudulent activities currently on going in the country.

He reiterated the need for joint training of staff of both organizations, and said there is need to review the MoU in order to achieve both organisation’s objectives.

On the rising spate of Ponzi schemes in the country, Magu stressed the need for more sensitisation campaigns between the SEC and the EFCC to ensure unsuspecting Nigerians do not continue to lose their hard earned money.

Imo Police Arrest Three over Invasion of Okorocha’s Bedroom The Police in Imo State said they have arrested three domestic staff of the immediate past governor of the state, Rochas Okorocha, over the invasion of his bedroom in the early hours of Saturday.

While Okorocha was in his Spibat House in Owerri, his village House in Ogboko in the Ideato South Local Government Area of the state was invaded by yet-to-be identified hoodlums.

The state Commissioner of Police,

Rabiu Ladodo, said the operatives of his command had swung into action immediately after the incident.

The CP said that the preliminary investigation carried out by the command showed that “it was an internal sabotage.”

According to him, three domestic staff of the governor, including one of the cooks, have been arrested by the Police.

Ladodo said that the CCTV footage obtained by the Police

showed that the act, which led to the invasion of Okorocha’s bedroom, was masterminded by those working in the house.

The CP said, “We have arrested three domestic staff of the immediate past governor.

“Preliminary investigation carried out by us showed that the invasion was carried out by those who are working there.

“We have obtained the CCTV footage in the house and that has

helped our investigation.

“The footage showed that the invasion was purely an internal sabotage. “We have arrested three domestic staff. We also arrested the cook.

“I want to assure Imo people that we are on top of the situation and we are doing everything possible to ensure that nothing is left undone in making sure that justice prevails.”

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Metele: We Recovered Missing Personnel, Equipment, Says MNJTF Debunks ISWAP video Kingsley Nwezeh in Abuja The Multinational Joint Task Force (MNJTF) disclosed at the weekend that it recovered missing personnel and equipment after the Metele and Baga attacks by insurgents in Borno State, debunking video circulated

by insurgents showing personnel and equipment purportedly captured by the Islamic State for West Africa (ISWAP).

It said the video was terrorist’s propaganda pushed by online sympathisers.

Spokesman of MNJTF, Col.

Alleged Perjury: Group Asks Body of Benchers to Disbar Ondo Deputy Gov Alex Enumah in Abuja A civil-society group, Ondo State Committee on Ethics and Good Governance, has called on the Body of Benchers to probe the Call to Bar of the Ondo State Deputy Governor, Agboola Ajayi, over perjury allegations, in the interest of the law profession.

The group headed by Olabanji Orogbemi, asked the Benchers to withdraw the law degree and the practising certificate issued to the deputy governor, which qualified him as a lawyer in 2010 on the grounds that the politician lied on oath.

In a strongly-worded petition written by Oluwagbenga Adeosun, a legal practitioner, on behalf of the group to the Benchers, the petitioner alleged that the Ondo State deputy governor lied on oath to secure his admission into the Nigerian Law School in the document he submitted to the authorities of the school.

In the petition dated May 28, 2019 and received at the registry of the Body of Benchers, May 30, 2019, Ajayi was accused by the group of being on a full time employment of the Government of Nigeria at the time he secured the law school admission and his eventual call to the Nigerian Bar in 2010 to become a bonafide and full-fledged legal practitioner.

A copy of the letter sighted

by THISDAY, revealed that the petitioners anchored their claim on the profile of the deputy governor published in the Ondo State Government web page: www.ondostate.gov.ng, wherein he (Ajayi) claimed that he obtained his Bachelor of Law at the Igbenedion University, Okada, Edo State and that he was called to bar in 2010 after his graduation from the Nigerian Law School.

The grouse of the group against the deputy governor was however predicated in another claim that he was elected between 2007 and 2011 into the House of Representatives for Ilaje/Ese-odo Federal Constituency of Ondo State.

While in the House of Representatives between 2007 and 2011, the deputy governor was said to have served as Chairman of the House Committee on the Niger Delta Development Commission (NDDC) and also served as a member of the House Committee

on Gas, Habitat, Justice and Committee on industry.

The group, while citing several authorities claimed that admission into the Nigerian Law School was on full-time basis and that the membership of the deputy governor to the National Assembly during the period was also on a full-time basis and as such he (Ajayi) could not have successfully combined his attendance at the Law School with his attendance in the House of Representatives.

Specifically, the group insisted that admission into the Law School barred anybody from full-time employment from being a student of the school because of the cumulative effects of the compulsory attendance in the practical training, lectures, attendance at dinners, attachment to chambers and court as required by law.

It, therefore, called on the Body of Benchers to investigate the claims of the deputy governor, especially how he combined his law school education with his membership of the House of Representatives, both of which are on full-time basis.

If found wanting, the group pleaded with the Benchers to immediately disbar and withdraw the Certificate of Practice issued to the deputy governor in the interest of justice, adding that with his own claim in his profile, Ajayi is not a proper and fit person to be admitted into the Noble Law profession.

“That Ajayi must have employed sharp practices not being omnipresent if indeed he participated fully in all the activities in the Nigerian Law School while sitting and performing all his legislative functions in the House of Representatives, and our client’s humble view is that Ajayi can therefore not be regarded as a fit and proper person to be admitted into this noble and honourable profession.

“It is on this note that our client is asking the esteemed Chairman and members of the reverred Body of Benchers without delay revisit the unlawful, unethical and fraudulent call of Hon. Agboola Ajayi, which was erroneously done in the year 2010 with a view to withdrawing the licence and certificate awarded thereat”, part of the petition read.

Timothy Antigha, said the task force suffered loss of personnel and equipment after insurgent attacks in Baga and Metele between December 2018 and January 2019.

He said the MNJTF launched Operation Yancin Tafki to among other objectives, rescue missing personnel and recover lost equipment, noting that some of the equipment being displayed by the terrorists have since been recovered.

“It would be recalled that in previous press releases, the MNJTF had referenced a couple of ISWAP attacks on

troop’s locations in Metele and Baga between December 2018 and January 2019.

“In the said press releases, the MNJTF had made it known that there were personnel casualties and others Missing in Action,” he said.

Antigha said “other than sheer misinformation and crass propaganda, which are aimed at causing panic and manipulating public opinion, the ISWAP video has not introduced any new dimension into the conflict discourse surrounding the ongoing counterinsurgency operations in the Lake Chad

Area”.

“It would be recalled that following ISWAP attack on troop’s locations in Baga and surrounding localities between December 2018 and January 2019, the MNJTF launched Operation Yancin Tafki to among other objectives, rescue missing personnel and recover lost equipment,” he said.

“Consequently, a sizeable number of the equipment shown in the video have since been recovered or destroyed in situ. The Operation which is progressing steadily is committed to rescuing

all MNJTF personnel who were declared Missing in Action.

“The MNJTF therefore wishes to assure the good people of the Lake Chad Region that the Force will never leave any personnel behind, as Operation Yamcin Tafki continues,” he said.

He said contrary to the claims of expansion in the Lake Chad Region, ISWAP’s influence had been curtailed considerably due to relentless pursuits by the MNJTF and national forces, as well as rejection by populations in the re g i o n .

SPECIAL THANKSGIVING SERVICE…

L-R: Lagos State Governor, Mr. Babajide Sanwo-Olu; his wife, Dr. Ibijoke Sanwo-Olu; Deputy Governor, Dr. Obafemi Hamzat; and his wife, Oluremi, during a special inauguration Thanksgiving Service at Chapel of Christ The Light, Alausa, Ikeja…yesterday

Speakership: I’ll Never Step down for Gbajabiamila, Says House Member S h o l a O yey i p o A member of the House of Representatives, Hon. Olajide Olatubosun (APCOyo), has again vowed that nothing will make him step down for the leading contender for the House and anointed candidate of APC, Hon. FemiGbajabiamila.

Although his party has publicly endorsed Gbajabiamila, a Lagos lawmaker, for the position, Olatubosun vowed not to step down from the race.

Briefing journalists in Abuja yesterday, he said that he would fight against imposition with the last drop of his blood.

The APC has zoned the office of the Speaker to the South-west and endorsed Gbajabiamila for the office.

Olatubosun said that

section 50 sub-section 1b of the 1999 Constitution as amended states that members shall elect from among themselves any member with legislative experience to become speaker.

He said the APC’s endorsement of Gbajabiamila was illegal.

“I’m a party man only to the extent that the decisions of the party conform with the constitution,” he said.

He said that the doctrine of separation of power states that there are three arms of government with separate functions and responsibilities.

The lawmaker explained that the different arms of government should cooperate with one another without compromising the principle of checks and balances.

“The executive is not

superior to the legislature, no. Unfortunately, because of our long years of military rule, the legislative arm has been bastardised so much.

“The legislature, which is the National Assembly in our case, came into continuous flow since 1999; this institution is faced with existential threat.

“Many people in government do not think we should exist anyway; so it in our best interest and for future generation for us to allow people to decide who leads us.

“The members of the House of Representatives are matured, well-travelled with the required exposure to choose one of them to lead. So, I will not support any form of imposition,” he said.

He described the legislative arm as the backbone of democracy adding that the institution

needed to run with a new approach.

He said he would be a servant speaker if elected and shall serve members, support staff, the media and all other stakeholders.

The legislator said if he is elected speaker, he would prioritise the budgetary process as the present system is not good enough.

He said that the process should be more inclusive for it to achieve the desired aims and objectives.

Olatubosun also said that if he is elected speaker, he would ensure that the Security Trust Fund Bill is passed for better funding of security agencies.

Stressing the need for better funding, he said that the secu r i t y a g e n t s a re d o i n g a l o t , sacrificing their comfort and lives for citizens to w a l k f re e l y.

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ACF Tasks Senators, House Members on Election of Leadership of N’Assembly John Shiklam in Kaduna Mouthpiece of Northern Nigeria, the Arewa Consultative Forum (ACF)

has tasked senators-elect and members-elect on the election of their leaders, especially the Senate president and speaker.

ACF said the National

Troops Arrest Five Bandits in Katsina The Nigerian Army said that troops have arrested five bandits/ kidnappers who have been terrorising villagers in Katsina State.

Its spokesman, Col. Sagir Musa said in a statement that the arrest followed credible intelligence received by troops of Exercise Harbin Kunama III on the activities of the bandits in the area.

“Following credible information received from good Samaritans about bandits/ kidnappers’ syndicate that have been terrorising Funtua -Faskari surrounding villages, troops of 17 Brigade Nigerian Army, on Exercise HARBIN KUNAMA 111, deployed at Faskari in Faskari Local Government Area of Katsina State, have conducted a successful Cordon and Search as well as raid operations at Sheme village, Ruwan Godiya forest and

surrounding localities.

“The operations resulted in the arrest of five kidnappers behind Sheme village, along Ruwan-Godiya forest axis. At the moment, patrols are ongoing in the neighbouring suspected bandits’ hideouts.

“During preliminary investigation, the apprehended suspects confessed to have been involved in the recorded kidnapping incidents in the general area, as well as sending their victims to their ring leaders that are based in the deep forest at Ruwan-Godiya.

“Consequently, troops further exploited deep into RuwanGodiya Forest setting Bandits/ Kidnappers hideouts on fire.

“Troops continued to dominate the area with patrols, to deny the bandits/ kidnappers freedom of action,” he explained.

Assembly members should put vital human and leadership qualities into consideration while electing new principal officers for the Senate and the House of Representatives in the ninth National Assembly.

Speaking in an interview with reporters in Kaduna yesterday, ACF National Publicity Secretary, Malam Muhammad Ibrahim Biu, said, such qualities are vital cogs in moving the wheel of the legislature forwards and having a smooth though not subservient relationship with the executive arm for

President of Tiv Development Association (TIDA), Boniface Ifer, has said ex-governor Umaru Tanko Al-Makura’s aides, Moses Utondo and Solomon Pevkyaav, do not have the power to unseat him as a community leader of the Tiv people of Nasarawa State.

The TIDA president dismissed his purported impeachment by the duo as a flash in the pan, insisting that he still remains the Tiv community leader in the state.

The two aides to the former governor recently announced that the TIDA

president was removed and consequently ceased to be the community leader of Tiv people of the state.

But the TIDA president, in a statement he issued to journalists yesterday in Lafia, the Nasarawa State capital, stated that Utondo and Pevkyaav lack the power to sack him as the community leader of Tiv people in the state.

He said: “I was elected as president of TIDA by a general congress and not a handful of disgruntled elements whose value has declined geometrically in the recent times shortly after leaving office as aides to the erstwhile governor.”

“If the disgruntled elements wanted to remove me, they

Laleye Dipo in Minna As Muslims look forward to the end of the month of Ramadan during which they abstained from food and drink, the Etsu Nupe, Alhaji Yahaya Abubakar, has admonished them to sustain the lessons learned during the holy month.

The Etsu Nupe, who gave the admonition at the final Ramadan

should summon a general congress of the association at Imon, the traditional seat of Tiv people of Nasarawa State where cultural activities are being held and remove me rather than staging a kangaroo arrangement under a cashew tree in the state capital.”

The community leader continued by expressing the confidence of the Tiv people of the state in the ability of the new Governor of the State, Abdullahi Sule, to take the state to greater heights.

“We, therefore, pledged our total loyalty and support to Sule’s administration which the Tiv people of the state know will be characterised by love, peace, unity, progress, and development.”

Okupe Predicts Return of Ambode as Lagos Gov A former Media Adviser to two past presidents of Nigeria, Dr. Doyin Okupe, has predicted the return of Akinwunmi Ambode as the governor of Lagos state.

Okupe made this prediction on his twitter handle @doyinokupe yesterday, June 2. The post reads, “former Governor Ambode is not my friend.

I called him but he never for once picked my call.

Yet, I sincerely believe he is an unsung hero. He is an extraordinary, dutiful and diligent performer. He may be a bad politician,

but I believe he has learnt his lesson. Ambode will still rule Lagos again, if the Lord tarries”.

While some Nigerians shared the sentiment of Okupe, however, the post did not go down well with other Nigerians that promptly made their positions known through different posts.

Princess Adenike Akindele @kebethdali wrote, “Politics is daunting, it exposes the otherwise private politician, being a bad politician can be quantified in so many ways but let’s not

promise of democracy.

“ACF therefore urges Senators and members-elect that in exercising their rights to elect officers of their choice, certain attributes like legislative capacity and experience, amiability, track record of selfless service, integrity, compassion of the candidates and above all loyalty to their political parties, which manifestos are used for securing the electoral mandate needed for implementation, should guide them in making the best choice.

“More so that democracy is a majority rule in which the political party with the electoral mandate is held accountable and the minority party is expected to be a viable alternative platform for the electorates, considering that democracy without a viable opposition is spurious.

“It should however be noted that multiparty democracy impels progress through change that comes with robust debates on issues of real concern to ordinary citizens,” ACF spokesman said.

Etsu Nupe Urges Muslims to Sustain Lessons of Ramadan

Ex-gov Al-Makura’s Aides Don’t Have Power to Unseat Me, Says TIDA President Igbawase Ukumba in Lafia

government to thrive.

“The election of the 9th National Assembly principal officers is the exclusive rights and prerogative of Senators and members-elect of the National Assembly.

“However, the political parties that provided the platform for them to be elected also have a role in choosing those to superintendent over the affairs of the National Assembly for the purpose of ensuring good coordination with the executive that are needed for delivering on the

use the ability to pick up random calls as a yardstick because Nigeria is so full of politicians making idle calls with no eventual outcomes”.

Meanwhile, Okupe has insisted that only the will of God would be done in the case of Ambode, notwithstanding uncomplimentary responses that might have greeted his prediction. He also said that the ways of God are not always the ways of men.

Okupe argued that Ambode would still rule Lagos State the second time.

lecture held at the Umaru Majigi central mosque, Bida on Sunday said “We must maintain our Godfearing acts which we exhibited during the fasting period.

“Muslims should strive to maintain all their good deeds after the fasting period and shun all the evil and devilish acts they abstained from during the Holy month of Ramadan”, the traditional ruler said Abubakar, who is also the chairman of the state council of chiefs said: “These noble virtues include patience, piety, philanthropic gestures and love for one another.”

He said Muslims should abstain from adultery, cheating, stealing, alcoholism, devilish acts and drug abuse.

The monarch added that fasting was not only about abstaining from drinking and eating during the holy month but also a time to emulate what Prophet Muhammad was sent by Almighty Allah to come and do, as well as preach.

The traditional ruler said it was only with the fear of Allah that Muslims could meet their needs and enjoy their possessions on earth and therefore appealed to well-to-do Muslims in the country to assist the less privileged with food items and other basic needs.

He urged Muslims in the country to use the remaining days in the month of Ramadan to pray fervently for national peace and progress adding that the two major religions in the country

preached peace, unity and love for one another, saying “we should always strive to maintain these virtues at all times.’’

He, however, called on the nation’s leaders at all levels to lead the people with the fear of God, stressing that they should always remember that they will all account for their deeds on the day of reckoning.

Similarly, the Chief Imam of Bida, Sheikh Adamu LimanYakatun, urged Muslims to fear God and always remember the day of reckoning.

Yakatun told Muslims to stop accumulating unnecessary wealth because “we will all account for how we acquire every kobo before Almighty Allah on the day of resurrection”

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Zamfara: PDP Berates Buhari over Sagay’s Comments on Supreme Court Justices Vows to reclaim Anambra in 2021

Adedayo Akinwale and Udora Orizu in Abuja The Peoples Democratic Party (PDP) has criticised President Muhammadu Buhari for allowing the Chairman of the Presidential Advisory Committee Against Corruption (PACAC), Prof. Itse Sagay to cast aspersions on the integrity of the Justices of the Supreme Court over the Court’s judgments on Rivers and Zamfara states’s elections.

The main opposition party has also vowed to reclaim Anambra State in 2021.

The apex court had recently voided the participation of all the All Progressives Congress (APC) candidates in the last general election in Rivers and Zamfara states.

Responding to the judgment, Sagay had urged the APC legal team to apply to the Supreme Court for a review of its judgments, claiming that the court’s verdicts were a travesty of justice.

Reacting to his comments, the PDP, in a statement issued yesterday by its National Publicity Secretary, Mr. Kola Ologbondiyan, said that Sagay’s comment had also revealed the level of condescension, derision and contempt the Buhari’s presidency and the APC have for the Justices of the Supreme Court.

The main opposition party said that by declaring the upholding of justice by the Supreme Court as a “national tragedy” and “unimaginable

injustice,” and suggesting that, “we (probably, his party members) should not allow” the judgment as delivered, Sagay was calling for anarchy and rebelliousness against the country’s constitutional democratic order and rule of law.

The party noted that Sagay’s resort to incitement and hate language against the Supreme Court justices further exposed the desperation of the presidency and the APC to cow, blackmail, intimidate and attempt to annex the judiciary, particularly, the Supreme Court, ahead of the determination of PDP’s presidential election petition, now before the Court of Appeal.

Ologbondiyan stated: “There is no way Prof. Sagay, a professor of Law, can justify his call for the rejection of the Supreme Court judgment on Zamfara and Rivers states, as the judgments are in protection of rule of law, democratic ethos as well as the wishes and aspirations of the people over the attempt by the APC to take control of their states through manipulations and awarding of fictitious votes to their candidates.

“Our party believes that such intentional attack on the integrity of the Supreme Court can only emanate from feverish apprehensions by the Buhari’s presidency and the APC that they might not have their way in the presidential election petition, hence this resort to blackmail.

“As a law-abiding party, the PDP holds the integrity of the justices as well as the institution of the judiciary very high and do not support this attempt by agents of the APC to clip and sequester the judiciary for their partisan interests.”

The PDP therefore called on the Supreme Court Justices to note the machinations of the APC and continue to be firm in upholding justice as has been demonstrated in the judgments on Rivers and Zamfara states elections, which serve as lessons to political parties to adhere strictly to rules of internal democracy in our electoral processes.

Meanwhile, the National Vice Chairman (South-east) of the PDP, Chief Austin Umahi has said that the party will reclaim Anambra State in 2021.

He said the party will legally stop at nothing in taking control of the five South-east states, stressing that winning Anambra in 2021 will complete the circle.

Speaking during the weekend in Ogidi in Idemili North Local Government Area (LGA) of Anambra State at a reception organised for the South-east zonal leadership of PDP, by a party stalwart and stakeholder, Chief Obiora Okonkwo, Umahi warned that the era of imposition of candidates was over.

He also assured of levelplaying field for every aspirant in the party, stating that the people will henceforth exercise their franchise in a free manner.

He lauded the leadership of PDP in the state for the renewed vigor and unity

in the party noting that performance of the party at the 2019 presidential election was a demonstration of the party’s determination to reclaim the state.

Umahi also lauded Okonkwo for his continued support for the party, saying the PDP chieftain has been untiring in his demonstration of deep faith and commitment to the fortunes of PDP. According to him, Okonkwo has been a very strong pillar of support for the great party, adding that the future of PDP in Anambra State is now brighter with the unity of purpose, which the members demonstrated at the last general election.

Umahi, who described the Anambra State PDP Chairman, Nieves Ndubisi Nwosu as a

“politician with a difference”, told party members that “if we come together the way we have demonstrated today, we will rise beyond anybody and nobody will have the capacity to stop us.

“Therefore, we must go back to possess our possession. The people’s voices must be heard and Anambra will bounce back again,” he added.

Earlier in his address, Okonkwo lauded Umahi for the impressive outing of the party in the south-east at the last general election.

He said Umahi’s leadership played a vital role in the reclamation of Imo State by the PDP, adding that with the feat, the stage is now set for PDP to add Anambra State to its kitty.

Sanction Members Involved in Election Malpractice, Wike Advises Church Ernest Chinwo in Port Harcourt Rivers State Governor, Nyesom Wike, has called on the Church to sanction members who are involved in electoral malpractice .

Addressing the Third Session of the 8th Synod of the Anglican Diocese of Niger Delta North at Saint Thomas Anglican Church, Diobu, Port Harcourt yesterday, Wike said that clerics should never be associated with illegal political activities.

“How do you imagine a cleric hijacking ballot boxes?

When we say that Christians should participate in politics, it is not for them to do illegal things.

“The church should discipline members who are involved in electoral malpractice. This will deter others planning to do same,” he said.

He reiterated his call for Christians to be involved in active politics to stop the emergence of unqualified leaders in the country.

The governor said the bad economy that has crippled the country at the federal level, is due to the fact that unqualified people are controlling that level

of government.

While commending the creativity of the diocese for investing in productive ventures, Wike announced support for the Church projects.

In a sermon, Anglican Bishop of Mbamili Diocese, Rt. Rev Henry Okeke, said Christians must use their positions to propagate the gospel and improve the lives of others.

He warned Christian leaders never to bow to pressure and intimidation, as they have a duty to help in defending the faith from the forces of darkness.

The cleric said Christian leaders who find themselves in governance, civil service and business should use their positions to defend the future of their communities.

Anglican Bishop of Niger Delta North, Rt. Rev. Wisdom Ihunwo, prayed God to protect the governor and grant him strength and good health to successfully conclude his second term.

The 3rd Session of the 8th Synod of the Anglican Diocese of Niger Delta North witnessed the rendition of soul lifting hymns and awards to deserving members.

COURTESY VISIT…

L-R: Chairman of Peoples Democratic Party, Anambra State, Hon. Ndubisi Nwobu; National Vice Chairman of PDP, South-east, Chief Austin Umahi; and chieftain of the party, Chief Obiora Okonkwo, during a visit of the South-east leadership of the party to Okonkwo, at his country home in Ogidi, Idemili North Local Government Area of Anambra State…weekend.

Arepo Community Congratulates Dapo Abiodun Arepo Central Community Development Association, (ACCDA) an umbrella development group comprising no fewer than 20 estates and communities in Arepo, has congratulated the new Governor of Ogun State, Prince Dapo Abiodun and his deputy, Mrs. Noimot Salako-Oyedele, as they assumed the mantle of leadership of the Gateway State praying that their administration and tenure in office will surely usher Ogun State into its greater greatness.

The association, in a statement signed by its President, Prince Kehinde Adeyemo, stated that the election of the duo as the new helmsmen of the state was a positive development and a big relief to the communities and citizens in the state who have in the last eight years suffered lack of inclusive governance and poor infrastructural development.

Specifically, the ACCDA commended Abiodun on his victory despite huge opposition but reminded him not to forget

his electoral promises, which centered on transparency, development, inclusiveness and good governance, adding that all of these are much desired to fast-pace growth and development of the entire state rather than an “arrogant concentration of infrastructure in one region” of the state.

The ACCDA president recalls the plight of the state’s border communities like Arepo, disclosing that the only access road that links the community to Lagos-Ibadan Expressway has completely collapsed and unmotorable having being abandoned for over eight years and remains a death trap.

“Although the road was said to have been awarded since 2006 to First August Construction Company during the first term tenure of former Governor Ibikunle Amosun, there has been no efforts to mobilise the contractor to move to site while the former governor turned deaf ears to all pleas by the Arepo community,” he explained.

Adeyemo further disclosed that although residents in Arepo community have made several efforts, levying themselves and making monetary contributions to fix the road, yet not much has been achieved as the road requires government attention with wholistic reconstruction.

“The road was built by former Governor Gbenga Daniel 15 years ago and has since gone into disrepair. The association president lamented that Arepo Community which boasts of Journalists’ Estate, the first of its kind in Africa and the whole of the world has rather than attract the attention and care of the state government been carelessly and recklessly abandoned,” he said.

“Not only that, Arepo community is the foremost border town, and an emerging town boasting of highly urbanised estates, communities and populated by high-flying and upwardly mobile elites and middle-class citizens who are

contributing in no small ways to the growth and development of the state economy,” the statement added.

The statement argued that the only governance presence recorded by the community under the last dispensation was the rehabilitation of a six classrooms of the only community primary school in the town while the health centre, police station and pipe-born water promised by the former governor remained a pipe dream.

ACCDA appealed to Abiodun and his new team “to write their names in gold by urgently directing immediate reconstruction of the road as awarded while giving the community a fresh breather by providing other social amenities and infrastructure befitting of a fast growing border community which holds high potentials for the state in curbing rural-urban migration and other economic benefits”.

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Delta APC Crisis: S’Court to Determine Omo-Agege, Emerhor’s Fate Tobi Soniyi The dispute over the leadership of the All Progressives Congress (APC) in Delta State has moved to the Supreme Court as the Chief Cyril Ogodo-led leadership of the party has asked the apex court to set aside the judgment of the Court of Appeal that reinstated Jones Erue-led leadership as the Executive Committee of the party in the state.

The Court of Appeal had in a judgment delivered

by Justice Jimi Olukayode Bada, Chidi Nwaoma Uwa and Muhammed L.Shuaibu on May 19, set aside the Judgment of the Federal High Court Asaba Division, which upheld the Ogodo-led Executive Committee as the authentic leadership of the party in Delta State.

The Federal High Court, Asaba Division, had on March 18 sacked the Jones Erue-led executive of the party in the state.

The court had also voided the participation of Senator Ovie Omo-Agege and Chief Great Ogboru as the APC candidates in the 2019 elections in the state.

The court’s decision followed the case filed by the Cyril Ogodo-led faction of the party, urging the court to recognise it as the authentic APC executive in Delta State.

The Ogodo-led faction had also urged the court to sack the Erue-led executive, which produced Omo-Agege and Ogboru as the party’s candidates.

The court, in its judgment, similarly upheld the full template of the Ogodo

faction’s candidates, including Dr. Pat Utomi, O’tega Emerhor and Ima Niboro as the party’s authentic candidates in the just concluded elections.

The Ogodo faction fielded Emerhor for the Delta Central senatorial district election and Niboro for the Ughelli North/South/Udu Federal Constituency seat in the House of Representatives.

However, not satisfied with the high court judgment, the Erue faction of the party and the Independent National Electoral Commission (INEC) had gone to the Court of Appeal to challenge the decision of the lower court.

The Court of Appeal in a unanimous decision allowed the appeal and restored the Erue-led leadership on the ground that the matter was filed out of time and therefore statute-barred.

In the judgment delivered read by Justice Chidi Nwaoma Uwa, the court held that the lower court lacked jurisdiction to entertain the suit as it bordered on an intra-party matter.

The court stated that the failure of the respondents to file their suit within 14 days after the issue complained of took place (pre-election) extinguished their rights.

But in a swift reaction, the Ogodo-led State Executive Committee of the party through their Counsel O.J Oghenejakpor in an appeal at the Supreme Court asked the apex court to set aside the judgment on the grounds that the justices of the Court of Appeal erred in law when they held that the appellants had abandoned their preliminary objection and thereby refused to

Work on Badagry Road will Commence this Month, Sanwo-OluVows Reprieve will soon come the way of residents and motorists plying the Lagos Badagry- expressway as Lagos State Governor, Mr. Babajide SanwoOlu, has promised that work will commence this month at the Maza Maza, Iba junction up to Okokomaiko end of the road.

Sanwo-Olu gave the assurance yesterday during a tour of Badagry road and other areas.

He, however, warned that market activities should stop at National Theatre to Maza Maza stretch, so as to open up the 10 lanes in the axis to traffic.

He said there will be a major clean-up of the road from National Theater to Maza-Maza, urging the traders who display their goods on the road to desist from doing such.

The governor who expressed dissatisfaction with the environmental

situation in the area characterised by huge pile of refuse, said a task force will be constituted to carry out massive clean-up in the area.

He said he would “ensure that the commerce in the Western axis of Lagos come back; that is why we have come here. We should be able to complete the road from Maza-Maza to Okokomaiko before the end of the year or beginning of next year with the needed funds to do it.”

He also disclosed that the state government will work with the federal government on the Okokomaiko, Agbara to Seme Border section of the road.

The governor also visited the Lagos Homes, Igando and Iyana Ipaja to Abule Egba for inspection of construction work not yet completed.

entertain the preliminary objection properly raised before them and ended up striking same out without considering it.

The appellants also contended that the Justices of the Court of Appeal misdirected themselves in law in their consideration of the cause of action of the appellants when they held in pages 17-18 of the judgment in part thus”it is clear that the crux of the suit at the lower court is the status of the Executive of 4th respondent (APC) at the State, Local Government and Wards levels in Delta State.

“The positions sought to be declared as authentic, legal and valid are various levels of political party (4th respondent and 1st defendant at the trial) officials in Delta State. It is not a suit in respect of the selection or nomination of a candidate of a political party for election who were to be sponsored by the 4th respondent. It is a case purely concerning members of the State Executives of the 4th respondent in Delta State”.

The appellants further stated that their claim as disclosed from the record of appeal was a complaint against the breach of the APC Constitution, APC

guidelines for the conduct of primaries, Electoral Act 2010(as amended) and the Constitution of the Federal Republic of Nigeria 1999 by the respondents which has vested them with a cause of action.

The appellants further contended that the lower court by limiting its consideration to reliefs 1-6 of the statement of claim amounted to a denial of fair hearing.

They stated that the lower court took a one sided view of the case and ignored to positively look at the case of the appellants and the findings of the Federal High Court made in respect of the

issues placed before the trial court.

The appellants maintained that the Court of Appeal erred in law when they entertained the appeal of the 1st respondent and allowed even when the 1st respondent failed to lead any evidence at the trail court in support of the averments contained in its statement of defence.

They asked the apex court to allow the appeal in its entirety, an order setting aside the judgment of the Court of Appeal, including the order as to costs and order affirming the judgment of the trial court.

CRS IN ACTION...

L-R: General Manager Lubes, Eterna Plc, Nnamdi Obiagwu; Tutor General/Permmanent Secretary, Education District 2, Maryland, represented by Director, Administration and Human Resources, Shadare Kayode James; Executive Director, Finance/Chief Finance Officer, Eterna Plc, Kudi Badmus; and Principal of Comprehensive Senior High School, Alapere, Ketu, Giwa Fasasi Oyebola, at the inauguration of the school’s Library by the Eterna Plc team in Lagos… recently

ABARIBE: PDP SENATORS-ELECT YET TO ENDORSE ANYONE FOR SENATE PRESIDENCY and kept mute about his aspiration.

“He has even told some of us that he is not interested in becoming the next Senate president. He said that he is comfortable with being the chairman of the Senate Committee Chairman on Appropriation.

“So, with his inability to commence campaigns for the office and bearing in mind that we only have Monday, Thursday and Friday as working days before the inauguration on Tuesday, it is evidently clear that he is no longer interested in the Senate President election “In view of this, the election for who becomes the next senate president is between

Senators Ahmed lawan and Ali Ndume”, the former governor said., explaining that only Goje could explain the sudden change of heart.

Meanwhile, in a statement issued yesterday, APC memberselect and some aspirants from the South-east have urged the ruling party to reconsider the zoning of the office of the Speaker of the House of Representatives to the South-east.

Hon. Emeka Nwajiuba and Nkeieuka Onyejiocha in the statement said, “we are asking the APC to reevaluate the zoning formula for the election of principal offices in the National Assembly from the South-west to the South-east.

“APC has grown from what it was in 2015 to 2019, we are therefore going to the National Assembly to secure more to our people and at the same time we are going to persuade that the APC is the future of the South-east by bringing more to the zone.

“In the past, it is used to be that the South-east did not have requisite candidate for the National Assembly principal officers.. That era, we are saying is no longer the case.

And hence, there is no reason not to zone the office of the Speaker of the House of Representatives to the South-east, for at least for equity, fair play and justice.

“Such a decision will end the feeling of alienation of the South-east from APC. It will lead to greater national cohesion, stability of the polity and consolidate the APC in the zone. This is our plea to the national leadership of our party,” the statement stated.

So far, the ruling party, APC, that is divided into four camps of Gbajabiamila, Bayo, Nwajiuba and Onyejiocha, has 213 members, while the PDP has increased by seven to 127.

If the APC members in the House sticks to the party’s directive to vote Gbajabiamila, it would be a straight win for the Lagos State member.

You Must Apologise to Me, Ortom Tells NFIU Samuel Ortom said the directive by the Nigeria Financial Intelligence Unit (NFIU) on local government financial autonomy is illegal and unconstitutional.

The governor stated that what NFIU is doing is illegal and cannot stand because the constitution puts the administration of local governments in Nigeria in the

hands of the states.

“We have made our position known to the president through a letter and if NFIU is not called to order we shall go to court,” Ortom said.

He added that, “I have never touched one kobo of local government funds; so, it’s an insult for NFIU to refer to all

governors as corrupt. So, they have to apologise to me.

Herdsmen are Boko Haram because they are not coming for grazing but to kill. Some of the herdsmen have less than 20 cows but go about with riffles just to destroyed farm lands and houses.

The only solution to farmers-

herders clashes is ranching.

China has 100 million cows; Brazil, 400 million; and USA, 500 million; yet you won’t see them openly grazing.

But in Nigeria you find cattle on Abuja streets. If anyone has a better plan than ranching, let him bring it on the table,” Ortom explained.

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Dogara Denies Joining Speakership Race Shola Oyeyipo in Abuja The Speaker of the House of Representatives, Hon. Yakubu Dogara, has denied reports that he has joined the race to retain his position as speaker in the ninth National Assembly.

There were reports that Dogara is interested to become the presiding officer of the ninth lower legislative chamber.

But in a statement issued yesterday, Dogara’s media aide, Turaki Hassan, said the “fake news” is being circulated by “mischief makers.”

Hassan said his principal would not be interested in “hide and seek” games.

“Our attention has been drawn to stories published

in some national dailies to the effect that His Excellency, the Speaker of the House of Representatives Rt. Hon. Yakubu Dogara, has joined the race for the Speakership of the ninth Assembly,” he said.

“We wish to distance the Speaker from the fake news being pushed and circulated by mischief makers and enemies of progress who want to create confusion in order to benefit and feast on it.

“The Speaker has always spoken for himself and would not be engaged in childish hide and seek games. When he contested in 2015 he openly sought for support and openly

canvassed for votes and there is nothing stopping him from doing so now if

that were the case.

“We have official channels of communication and

we have not issued any statement to that effect.

“We urge members of the

public to totally disregard the fake news being published about the Speaker.”

Summit: Osun to Align Devt Agenda with Private Sector Needs Awosika, Ighodalo, Mohammed, others to attend Osun State Government will use its economic and investment summit to align its development agenda with the private sector needs, Summit Planning CoChairman Prof. Olalekan Yinusa, has said.

Yinusa, who supervises the Budget and Economic Planning Ministry, said the summit is expected to attract investments in critical growth sectors thereby leading to economic prosperity and growth in the state.

He spoke while reviewing the plans for the June 25-27 Summit slated for Osogbo, the state capital.

Governor Adegboyega Oyetola in his inauguration address promised to organise a summit to bring together the State Government of Osun and potential local and international investors on areas of possible collaboration and partnerships and to create a diversified and sustainable economic growth.

Yinusa said the summit “will not be a talk-show,” but will comprise mainly of plenary sessions, having up to 52 key economic drivers in the country as speakers, panelists and moderators.

The Chairman of First Bank Plc, Mrs. Ibukun Awosika, is one of the key business leaders who have confirmed their participation.

Also confirmed to participate among others, are the Chairman of the Nigerian Economic Summit Group (NESG), Mr. Asue Igbodalo; the Managing Director/Chief Executive of the Transmission Company of Nigeria (TCN), Mr. Usman Mohammed, and the Central Bank of Nigeria.

Yinusa gave the main focus of the Summit as agriculture; mining; Information Communication Technology (ICT)/Innovation Hub; Culture, tourism and Creative Economy; Youth and Jobs; Infrastructure/ Public-private Partnership (PPP); Industry, Commerce and Market; Healthcare; Technical and Vocation Education; Environment (Waste to Wealth), and Service Delivery Frameworks.”

He added that the Summit was designed to promote investment in the identified sectors to guarantee continuous growth.

Governor Oyetola will present the economic roadmap of his administration and showcase investment opportunities to prospective investors and partners at the Summit.

According to Yinusa, the summit will provide an opportunity to bring the state government, potential local and international investors together to exploit the opportunity of collaboration and partnership.

Yinusa said: “This summit will reflect some specific roadmap on how Osun economy should be run in fulfillment of the governor’s electoral campaign promises to run all inclusive, participatory and people-oriented government.

“It will serve as an intellectual economic forum where cross vitalization of ideas, opinions and views that will help to chart a new course and a workable economic roadmap.

“We have identified specific socio-economic and infrastructure drivers and pillars to rest the success of our economy on and this will spread across the critical sectors.

“The development pillars will be hinged on Economic Development; Infrastructure Development; Human Capital Development and Security Advancement, and Environmental Sustainability.

“It is imperative to device means to enhance the revenue profile of the state to meet her end needs.

“This summit has shown the seriousness attached to governance by this administration as it serves a reflection of doing something extra ordinary to reposition the economy of the state for prosperity.

“We are bringing investors from all walks of life to impact knowledge capable of driving our economy and help to turn our state to socio -economic, infrastructure and political pacesetter in the western region.”

STOCKTAKING…

L-R: Managing Director/CEO, NOVA Merchant Bank, Mr. Anya Duroha; Chairman, Mr. Phillips Oduoza; and Company Secretary, Mr. Tochukwu Mba, at the 2nd Annual General Meeting of the bank, held in Lagos…recently

LCCI Identifies Key Factors for Nigerian’s Economic Diversification Chris Uba The Lagos Chamber of Commerce and Industry (LCCI) has identified three critical factors which it said are crucial to drive economic diversification in the Nigerian economy.

These factors are the quality of infrastructure, the quality of policies and the quality of institutions.

The chamber said if they are put right in order, the objectives of the ongoing economic diversification can be achieved.

The LCCI’s view which is contained in a statement titled: “Agenda for Economic Diversification”, which was signed by its Director General, Muda Yusuf, said it was crucial to get these key parameters right, noting that it was also equally critical to ensure proper alignment among these key variables to ensure sustainable economic diversification.

“The policy factor has many dimensions: monetary policy, forex policy, interest rate policy, tax policy, trade policy, procurement policy and investment policy. Each of these policies has a major role to play in the economic diversification process,” said the chamber, adding that “the policy mix must be right for the desired outcomes to be achieved.”

It said the monetary policy should be designed to drive domestic investment through a moderation of the monetary tightening stance of the Central Bank of Nigeria (CBN).

This, it said, was needed to moderate interest rate in the economy.

“It is difficult to drive domestic investment at current levels of interest rate which is well over 25 per cent, for most economic players. The economy needs investment, especially domestic direct investment to drive diversification,” added.

The LCCI also noted that the foreign exchange policy is another very important policy component which impacts on economic diversification, saying that a forex regime that perpetuates a rent economy would not serve the cause of diversification.

LCCI criticised the renewed aggressive tax drive in the country, saying that it focused more on investors than consumers.

“The burden of taxation is more on the investors in the economy than the consumers. The Federal Inland Revenue Service (FIRS) has scant regard for due process in its drive for revenue. It is therefore inherently a disincentive to investment and economic diversification,” the chamber added.

The chamber also chastised the three tiers of government for targeting investors more than consumers, saying that this is not in consonance with best practice principles in taxation.

According to the chamber, “in

an economy which is almost 50 per cent informal, this structure of taxation is not investment friendly.

The formal sector of the economy bears the largest burden of the tax system. The tax policy needs to be better attuned to economic diversification through a reversal of the tax burden from investors to consumers. The use of banks as collection agents for the FIRS (in its current form) is very disruptive, distracting, arbitrary, oppressive and unfair to investors.

It is a serious disincentive to investment and the promotion of financial inclusion. This approach should be discontinued. Taxation should not be seen only as an instrument of revenue generation, it is also a potent instrument for stimulation of investment.”

Also, as part of the effort to achieve the objective of economic diversification, the LCCI urged government regulatory agencies to adopt friendly approach in the implementation of policies.

Don’t Attack President, Pastors, Others, Kumuyi Tells Christians The General Superintendent of the Deeper Christian Life Ministry, Pastor William Kumuyi, yesterday urged Christians not to attack the president of the country through any means.

Kumuyi, who gave the admonition during his sermon at the Deeper Life Bible Church headquarters, Gbagada, in Lagos, said that real Christians must obey constituted authorities and shun violence.

Delivering his sermon entitled The Believers’ Preservation Until the Day of Visitation, Kumuyi said Christians are strangers and pilgrims in the world and must be Christ-like in their character,

conduct and conversations.

The cleric, who read from Bible passage I Peter 2: 11-25, said that Christian lifestyle must reflect Christ in the civil society, saying that government derives their authority from God. “Don’t attack the President of the country, whether in words or in the newspapers or through Internet.

“Honour kings; don’t disrespect or dishonour the governors. Don’t disrespect leaders of the community and leaders in the church.

“If we are to honour the governors in the states, how much more the pastors! ” Kumuyi said.

He said that was the will and

command of God. He said that God wanted Christians to submit to the leadership He had given to them in the Church, community, country and corporate organisations.

The cleric, who stated that the end of life on earth is not the end of existence, urged Christians to always think of the day of reckoning in their character and conduct.

He said, as strangers and pilgrims in the world, Christians’ affections, attention and focus must be in heaven, hence the need to shun all appearance of sin.

According to him, the greatest joy and reward of Christians is not in this world but is reserved

in heaven for those who would not be overcome by attractions of the world.

Kumuyi admonished Christians to abstain from fleshly lusts, fornication, idolatry, and anger, among others, that could pull them out of the highway of heaven just like Biblical character, Demas.

According to him, Christians should not give up worship of God for money- making ventures, saying “man brought nothing to the world and will not take anything out of it.”

“If we are going to heaven, we must be careful and thoughtful and run from all appearance of evil.

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Falana Flays Judges for Imposing Fines on Public Interest Litigants Davidson Iriekpen Lagos lawyer and activist, Mr. Femi Falana (SAN), has condemned the habit of imposing of fines by high court judges on public interest litigants, describing their action as unconstitutional.

Falana in a statement issued yesterday said such action cannot be justified under the Constitution and the African Charter on Human and Peoples Rights (Ratification and Enforcement) Act. He argued that when a judge finds out that a litigant lacks the locus to institute a suit, such suit should be struck out or dismissed without fine.

The Lagos lawyer stated that no judge is empowered by the constitution, high court law or rules of court to impose fines of N5 million or N10 million on a litigant who has not been tried and convicted for committing a criminal offence in Nigeria.

He thus, considered it a renewed attack on public interest litigation by the judges.

He added that as far as the law stands, no judge has the power to order a litigant to pay costs outside the ambit of the rules of the respective high courts.

The human rights lawyer contended that even in the award of costs, litigants and their counsel are given fair hearing by judges.

He said since access to court has been guaranteed by sections 6 and 36 of the 1999 Constitution and article 7 of the African Charter on Human and Peoples Rights Act, it is illegal and unconstitutional to impose fines on aggrieved citizens who approach the courts to challenge the illegal official policies or unconstitutional legislations under the current democratic dispensation.

“In recent time, some High Court judges have been reported to have imposed fines ranging from N5 million to N10 million on concerned citizens whose cases were struck out for want of locus standi.

“With respect, the renewed attack on public interest litigation by judges cannot be justified under the Constitution and the African Charter on Human and Peoples Rights (Ratification and Enforcement) Act. “Specifically, the Fundamental Rights (Enforcement Procedure) Rules 2009 have enjoined judges to encourage public interest litigation in promoting the human rights of Nigerian people. Ex abundanti cautela, the doctrine of locus standi

has been abolished in the area of human rights by Order III of the Fundamental Rights Enforcement Procedure Rules 2009.

“Since access to court has been guaranteed by sections 6 and 36 of the 1999 Constitution and article 7 of the African Charter on Hunan and Peoples Rights Act it is illegal and

unconstitutional to impose fines on aggrieved citizens who approach the courts to challenge the illegal official policies or unconstitutional legislations under the current democratic dispensation. “ As far as the law stands no judge has the power to order a litigant to pay costs outside the

ambit of the Rules of the respective high courts. Even in the award of costs litigants and their counsel are given fair hearing by judges.

“We are therefore compelled to draw the attention of our judges to the case of Fawehinmi v Akilu (1997) NWLR (Pt 65) 979 wherein the Supreme Court overruled the

case of Abraham Adesanya v The President (1981) ANLR 1. Since the anachronistic doctrine has been set aside to pave way for public interest litigation our judges should desist from striking out or dismissing cases which are filed to challenge impunity of public officers in Nigeria.”

Vice Chairmen Kick against MERISTEM GREEN FEST… Head, Wealth Management, Meristem Limited, Damilola Hassan; Director, MSL, Olusegun Olusanya; Group Managing Director, MSL, Dissolution of Local Councils L-R: Wole Abegunde; Director, Olaitan Onalaja; and Deputy Group Managing Director, Suleiman Adedokun, during the Meristem Green Fest in Olawale Ajimotokan in Abuja

The Association of Local Government Vice Chairmen of Nigeria (ALGOVC) has condemned the dissolution of local government councils by some state governors, describing the action as illegal and unconstitutional.

In a statement issued in Abuja, ALGOVC asked the governors of Oyo, Gombe and Zamfara states to immediately rescind the decision and restore the sacked council chairmen.

The statement was signed by its National Chairman, Hon. Lawrence Onuchukwu.

Onuchukwu, who is also the Vice Chairman of Abuja Municipal Area Council (AMAC),

asked the three state governors to rescind the decision, adding that his association was prepared to pursue all legal channels for redress if the governors refuse to revert to the status quo ante.

He also expressed confidence that the dissolution of the local government councils would be reversed, saying the governors were ill-advised to take the decision.

He insisted that ALGOVC is banking on a pronouncement made by the Supreme Court in 2016 that that no governorelect has the constitutional power to dissolve an elected council administration and replace it with caretaker committee.

Cleric Urges Elected Officials to Fulfill Campaign Promises Peter Uzoho The Senior Pastor of Shepherdhill Baptist Church, Obanikoro, Lagos, Rev. Dr. Israel Kristilere, has urged all politicians across the country, especially the elected public officers recently sworn in, to ensure that they fulfill their campaign promises to the citizenry as they take up the responsibilities of their new offices.

Kristilere made the call at a press briefing organised to mark the beginning of the celebration of the 50th anniversary of the church which comes up on July 13, 2019.

“My message to them is that whatever they promised they should fulfill.

I want them to know that the times are over when you just campaign and think you can take the people for granted.

Even though the people cannot fight for themselves, we would see God fighting for the people either through government system

or divine arrangement,” he said.

The cleric added that the church has a role to play in the nation’s development, saying “as a church, we will continue to teach the truth and teach members to be upright and we shall continue to maintain our stand when it comes to government policies that are inimical to the wellbeing of the citizenry.

“I believe the church has a lot to play in the modelling of this nation, raising men and women of godly standard, and speaking out when we feel or when we note that the people are being maligned, oppressed. So, the church will continue to be the voice of the hopeless, the voice of the oppressed in the nation,” he noted.

Kristilere stated that the people should expect the people of God to celebrate truly what the Lord had done, adding that there was nothing wrong with celebrating.

Lagos … weekend

AKINYELE ABAYOMI

Edo Group: Why We Back Obaseki for Second Term Esther Oluku A socio-political group in Edo State, Transparency and Good Governance Initiative (TAGGI), has expressed admiration for Governor Godwin Obaseki’s stance against thuggery, his prioritisation of infrastructural projects, prompt payment of salaries, respect for the rule of law and insistence on order in public places, which have endeared him to residents in the state in the last two and half years.

In a statement, Executive Director, TAGGI, P. E. Madojemu, said the governance style of the state governor is not only captivating, but his disconnect from hitherto recognised thugs and brigands in the state has brought uncommon peace to the state.

“Before the advent of Obaseki,

Edo State was plagued by thuggery. Thugs were openly – and brazenly – celebrating feats of amassing over N1billion in Benin City. But Obaseki has since dispensed with that as the intellectual technocrat that he is.

Even to the issue of traffic control.

Gentlemen and women were employed to sanitise the roads, among other gains.”

He vowed that, “If Obaseki refuses to seek for a second term in office as a result of the political pressure from his party, I will approach a competent court seeking, among other things, an order compelling him to contest.

This is the thinking of the majority of the people.”

Madojemu said the focus on road construction is commendable, as many Edo residents can attest to the fact that the number of

roads that have been constructed has increased since the governor came on board.

According to him, “The other good thing about Obaseki is the construction of roads across the nook and cranny of Edo State.

There is the construction of a particular road linking about 12 communities. It is the road from Oko-ADP to Ogheghe Community at Sapele Road by the by-pass. The communities that have benefited from the road construction include: Oko, Irhirhi, Ebo, Aruogba, Ofumwegbe, Okhuoromi, Egbireh, Obazagbon, to mention but a few.”

The group praised the governor for ensuring transparency in his award of contracts, which has ensured the completion of road projects without contractors absconding from site, noting “In times past, the reason road

construction as well as other infrastructural development suffered immediate setback was due to abandonment of projects by contractors who were party faithful and leaders. It is not a secret that in the past, some primary school rehabilitation contracts were awarded to some party elders and leaders but till date, those schools were not completed and nothing happened!

“We have never seen a governor with such a score card across all sectors of the state. Salaries are paid up to date and paid as at when due even when wealthier states are finding it difficult to pay their workers. Road construction is ongoing in all the senatorial districts of the state. Infrastructure hitherto abandoned are being completed.”

Impact One Person at a Time Positively, Okowa Urges Nigerians Omon-Julius OnabuinAsaba Governor Ifeanyi Okowa of Delta State has urged that the spirit of brotherliness among the people would be engendered if Nigerians seek to impact positively on the life of at least one person at a time, saying the entire society would be better for it due to its rippling effect.

Okowa stated this at the inauguration of Delta State Sickle Cell Referral Centre, Asaba, donated to the state by the 05 Initiative, a non-governmental organisation founded by the wife of the Governor of Delta State, Edith Okowa.

The governor said “I am glad that the 05 Initiative was founded and

committed to helping one individual at a time. As Nigerians, if we impact on the life of one person positively, that person will go ahead to impact on the life of another person and within a short period, we will have a country where the people will be willing at all times to help one another.

“This exercise is coinciding with the birthday celebration of my wife; while I say happy birthday to her, I am glad that every year, she celebrates her birthday touching the lives of other people.”

Okowa, who revealed plans to celebrate his 60th birthday next month, July 2019, with the less privileged, particularly thanked his wife for having the vision

to assist people with sickle cell disorder and assist the hopeless in the society as well as the donors to 05 Initiative, noting that the NGO was strictly driven by donations from individuals and agencies.

Mrs. Okowa in an address said “With the addition of this centre, it brings to 13 the total number of sickle cell clinics established by the 05 initiative in its relatively short history. The other twelve clinics are located at Ughelli, Sapele, Oleh, Kwale, Eku, Patani, Koko, Otu-Jeremi, Agbor, Orerokpe, Issele-Uku and Umunede.

“Every one of these clinics is fitted with modern equipment, quality furniture, and manned by skilled and knowledgeable personnel

because, as some of us here may be aware, sickle cell patients face peculiar health challenges including episodes of pain, frequent infections, delayed growth, and vision problem not to mention the social stigma associated with the disorder in our environment.

“I am not expecting you to change the world; all I ask is that you change the world of one person. Do that and you would have accomplished a world of good.”

Chairman of the occasion, Prof.

Epiphany Azinge (SAN) scored 05 Initiatives high in meeting with its vision, saying, “Activities of 05 Initiative has blossomed tremendously, the scorecard is impressive; 05 Initiative is giving hope to the hopeless.

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We Spent N45m to Train 1,000 Teachers, Nasarawa Govt Tells SERAP Udora Orizu in Abuja The Nasarawa State Universal Basic Education Board (NSUBEC) has responded to a Freedom of Information (FoI) request by Socio-Economic Rights and Accountability Project (SERAP), disclosing how “the government spent Universal Basic Education Commission (UBEC) funds on primary school education between 2015 and 2019 including spending N45 million in one week to train one thousand primary school teachers.”

This was disclosed in a statement

by SERAP’s Deputy Director, Kolawole Oluwadare.

The government’s response followed FOI requests SERAP sent last month to NSUBEB, UBEC and other 35 state universal basic education boards, seeking details of spending on primary education across the country, given the poor state of education in many states of the federation.

In the letter with reference

number NS/UBEB/S/OFF-69/ VOL.I/XX and signed by the Board Secretary Yakubu Ahmed Ubangari, on behalf of the Executive Chairman, the Nasarawa State Education Board disclosed that, “Our counterpart fund for primary education in 2015 was N866,756,76, while the matching grant was N876,756,756,76. In 2016, our counterpart fund was N607,848,100.48 while the matching grant was N607,849,100.48. The total fund we accessed in 2015 was N1,753,513,513.52. For 2016, it was N1,215,698,200.96.”

According to the letter, “In 2015, we spent N45,000,000.00 in one week to train 1, 000 primary one and two teachers on Jolly Phonics teaching in our schools.

The objective is to improve staff and pupil’s synthetic phonics in English language and to read and write effectively. The training took place in the three senatorial district centres in the state.”

The letter with accompanying documents dated May 21, 2019,

Dickson: I ‘ll Retire into Farming, Teaching after My Tenure Emmanuel Addeh in Yenagoa Governor Seriake Dickson of Bayelsa State has disclosed that he will go fully into farming and teaching when his tenure ends on February 14, next year.

Dickson who spoke with some journalists in his Toru-Orua farm, Sagbama Local Government, Area (LGA) said he started commercial farming, which has always been his passion, years before he became the governor.

“I started this farm a long time ago, but I haven’t really had time to prepare. When I finish, I will be into full time farming” he said.

He added: “I can’t be doing only farming, age is still on my side and I have a lot of passions, writing is one, teaching another.

I am likely to go back to school, I will like to involve in teaching, carrying out research on studies about my experiences, deep experiences in governance.

“How in this under-developed and trying environment, we can talk about democratisation and peace building, consensus building and all the things that I have been able to achieve here.

“So, I will most likely be in classroom, but farming is also a passion I have and it is a business that I encourage everyone to go to into”.

While underscoring the importance of investing in agriculture by the government on the one hand and private individuals on the other, the governor opined that people must be able to provide what they eat and be able to create jobs and by extension create wealth.

“Luckily, our country is so well endowed that in every part of our country, in most parts of our country, we can at least plant one crop or the other and people are essentially farmers and we now have farmers and fishermen just by the road. “ So, for me agriculture is very paramount if we are serious about creating a sustainable economy, if we are serious about

creating jobs, if we are serious about encouraging people to employ themselves and create employment and also by so doing provide food sufficiency for ourselves” he noted.

Dickson said in the past two, three years he had concentrated on fishery, rearing cows, piggery, harvesting bananas, plantain, cucumber, pineapples and sugarcane.

“So, this is to encourage you all to tell the story of Agriculture, I have always been into farming, I always farm here, my village, I have a farm in Yenagoa since 2000 , 2001, Seriake Dickson farm has been in existence since 2002 or 2003.

“When I went to the House of Representatives in 2007, by 2008 I started to prepare a farm around Abuja in Nasarawa State, 100 hectare farm which is properly secured and a lot of cattle and other crops that are planted there,” the governor said.

Dickson said he had already started talking with some banks to assist him in raising a facility based on the security of his titles to enable him make up all the investments as he gets ready to leave office.

“I intend to stay here in my community and with my family in Yenagoa so that I can put in and make most of these investments to create jobs and also yield profit” he posited.

He advised that the mindset that survival must come from government must change, maintaining that his government already made a lot of investment in the aquaculture village in Yenagoa and the several others outside Yenagoa.

“Right now, we have capacity for 1500 to 2000 young fishermen that should be under training and they are also making some money in the process.

“If you go to Egbedebiri where the government poultry is, we have established around 35,000bed capacity, so young people can go there and learn” he said.

but which SERAP said it received last Friday, read in part: “We spent N13,925, 336.36 to construct three classrooms with one office at Kwagshir Primary School. The construction was done by Gibbs Scientific Nigeria Limited. We spent N13,925,336.36 to construct three classrooms with one office at Riri Primary School; the construction was done by Mu’uru Puhu Services Nigeria Limited.”

“We spent N3,030,791.00 to construct toilet with four compartments; the construction was done by A. Odumu Unique.

We spent N220,472,000.00 on supply of chairs and desk; the supplier was Innate Resources Services Limited.”

“We spent N13,925,336.36 to construct three classrooms block at Yarkadde Primary School, Keffi; the contractor’s name is Dan Dogara Oil Limited. The project is 100 per cent completed. We spent N13,925,336.36 to construct three classrooms block at Feferuwa South Primary School, Lafia; the contractor’s name is Alfada Global Ventures Limited. The project is 96 per cent completed; the balance

of N526,213.68 to be paid.”

“We spent N13,925,336.36 to construct three classrooms blocks at Abebe Primary School, Keana; the contractor’s name is Calfez Nigeria Limited. We spent N13,925,336.36 to construct three classrooms block at Igyomuh Primary School, Keana; the contractor’s name is Suleimaniya Integrated Services Limited. We spent N13,925,336.36 to construct three classrooms block at Yelwan Bassan Early Child Primary School, Kokona; contractor’s name is Dougymarks Nigeria Limited.”

“In 2016, we received N165,000,000.00 which was spent as follows: N45,000,000.00 was spent on Training of Primary one, two and one Jolly Phonics; N78,110,080.00 was spent on Training of Basic Education Teachers and Administration on Clusters; N20,000,000.00 was spent on Strengthening Mathematics and Science Education (SMASE); N10,000,000.00 was spent on training of LGEA Quality Assurance Teachers; N8,250,000.00 was spent on training of 165 ECCD Staff, while N3,639,920.00 was spent on LGEA Cluster Support Mechanism Training.”

“N78,110,080.00 was spent to train 1550 basic education teachers and school administrators on cluster model in 31 centres in the state. The training was for 13 weeks.

We spent N20,000,000.00 to train 300 teachers to strengthen mathematics and science education (SMASE). The training was for six weeks. Also, we spent N10,000,000.00 to train 150 teachers on Quality Assurance in our schools; the training took three weeks. We spent N8,250,000.00 to train 165 teachers on the use of curriculum and teachers’ guide, and instructional materials; the training took one week.”

“We spent N13,925,336.36 to construct three classrooms block at Wayo Primary School, Wamba; the contractor’s name is First Trinity Integrated Services Limited. We spent N13,925,336.36 to construct three classrooms block at Apringbo Primary School, Doma; the contractor’s name is Honey Darl Pharmacy. We spent N13,925,336.36 to construct three classrooms block at Umme Primary School, N/Eggon; the contractor’s name is Abufat Global Ventures.”

“We spent N13,925,336.36 to

construct three classrooms block at Nahuche Primary School, Nasarawa; the contractor’s name is Nlonnu Global SGL. We spent N13,925,336.36 to construct three classrooms block at Pesin Primary School, Toto; the contractor’s name is Sofian Al-Venture Limited. We spent N13,925,336.36 to construct three classrooms block at Mama Pilot Primary School, Wamba; the contractor’s name is VAASR Multi Venture. We spent N13,925,336.36 to construct three classrooms block at Mudu Primary School, Doma; the contractor’s name is Baba Muha Ventures.”

“We spent N13,925,336.36 to construct three classrooms block at Saura Mada Primary School, Kokona; the contractor’s name is Ayime Kweyi Enterprises. We spent N13,925,336.36 to construct three classrooms block at Tungan Nupawa Primary School, Lafia; the contractor’s name is Fas Field Investment Limited. We spent N13,925,336.36 to construct three classrooms block at Angwan Waje Lalle Primary School, Lafia; the contractor’s name is Husnil Husna Nigeria Limited.”

CONGRATULATIONS…

L-R: Chairman, Pace Setters’ Academy, Mr. Kenneth Imansuangbon; Publisher/Editor-in-Chief, National Chronicle, Timothy Okojie Ave; and human development expert, Austine Emuan, during the presentation of Esan Man of the Year Award to Imansuangbon at the 3rd Edition of Esan Hall of Fame Investiture Award ceremony in Lagos…recently ABIODUN AJALA

You Lack Capacity to Run APC, Oyegun Tells Oshiomhole Onyebuchi Ezigbo in Abuja The immediate past national chairman of the All Progressives Congress (APC), Chief John Odigie Oyegun, has said that his successor, Adams Oshiomhole, lacked the capacity to manage the different interests and tendencies that constitute a political party.

In apparent reaction to the allegation by the Southsouth states’ APC chairmen that he laid landmines for the Oshiomhole-led national executive , Oyegun described it as “ludicrous and infantile and an attempt to dream up justification for the failings of the party under Oshiomhole’s chairmanship”.

In a statement issued yesterday by his Public Affairs Adviser, Chief Ray Morphy,

the former national chairman of the ruling party said that Oshiomhole failed because he lacks the temperament required to run a big political party like APC. “That statement of booby traps is ludicrous and infantile and an attempt to dream up justification for the failings of the party under Oshiomhole’s chairmanship,” he said.

Reacting to the brewing crisis of confidence and the misfortune the ruling party witnessed at the last general election, the former chairman said the crisis in some states arose out of sheer incapacity on the part of the current chairman.

He said Oshiomhole failed because he lacked the temperament that is required to run a political party.

He said Oshiomhole also

lacked the capacity to manage the different interests and tendencies that constitute a political party.

“He engages his mouth before engaging his mind; so, he offends party members; so, how does that constitute booby traps by Oyegun, the erstwhile chairman.

“Already, the deputy national chairman has confirmed that Oshiomhole runs the party without recourse to the NWC. “He acts in direct opposite of decisions taken by NWC. No minutes of NWC meetings, which in any event take place outside the party’s secretariat,” he said.

Oyegun said that part of the poor sense of judgment Oshiomhole committed was when he gave the states freedom to choose their methods of

picking candidates for elections.

“How would you not have crisis in states with the confusion that Oshiomhole created when he gave the states freedom to choose their methods of choosing candidates for elections? Much of the crisis in states arose out of sheer incapacity on the part of the current chairman; how does this Oshiomhole’s incapacity become booby traps by Oyegun?

“Many party men were aghast at the unfairness and injustice meted them during the primaries process. Only a bad carpenter quarrels with his tools. Indeed Oshiomhole is degrading and demarketing the party, rather than seek to bring more people on board, he is rather chasing people out of the party with his agbero-style of engagement,” Oyegun said.

53

T H I S D AY ˾ MONDAY, JUNE 3, 2019

MONDAYSPORTS

ÜÙßÚ ÚÙÜÞÝ ÎÓÞÙÜ˝ Duro Ikhazuagbe ×ËÓÖ˝ duro.ikhazuagbe@thisdaylive.com 08111813083

Anxiety Grips NFF Officials as AFCON 2019 Not in Ministry’s Budget Duro Ikhazuagbe The Nigeria Football Federation (NFF) has been dealt a fatal blow as its budget for the 2019 Africa Cup of Nations scheduled to kick off on June 21 in Egypt was excluded from that submitted by the Federal Ministry of Youth and Sports Development for appropriation.

Immediate past Minister of Sports, Solomon Dalung, is been fingered as the one who allegedly dropped the NFF budget for the AFCON 2019 and other sundry competitions this year from what his ministry submitted to run the sector this year.

No reason has been adduced for his action even as his beef with the leadership of the NFF remains an open secret till he bowed out of office on May 29 with other ministers.

Credible sources at the Glass House confided in THISDAY at the weekend that the NFF submitted its budget three times to Dalung but are now surprised that it was not included in the envelope of the ministry.

With the AFCON 2019 less than three weeks to kick off, NFF officials have no other options but to go cap in hand to some of its partners and sponsors to raise the funds needed to prosecute the African football showpiece.

“Unlike the World Cup where

FIFA bankrolls the preparations and participation of all qualified team, the AFCON is a different ball game. CAF does not fund take care of feeding and logistics (flying from one venue to another) and other sundry expenses apart from accommodation during the competition,” revealed an official of the federation last night.

Since the Amaju Pinnick administration at the NFF, the federation has to a large extent stemmed quarrels over players’ allowances. The board also secured sponsorship from its partner, AITEO that is used to bankroll salaries of national team coaches.

However, with this exclusion of its budget from the ministry’s envelope, there is now the likelihood of a return of those rancorous days where players sometimes abandon training in protests over owed bonuses.

The top official who did not want his name in print threw further light on the situation.

“We duly submitted our budget to the ministry. In fact, we went to the Minister three times to ensure that there are no issues, but we informed that it was removed by the immediate past minister, Solomon Dalung before it was forwarded for the approval of the Presidency.”

NFF only discovered last week that its budget was dropped when it started to

make enquiry about getting the money it needs to prosecute the AFCON 2019.

“We only discovered that our budget was not in the envelope submitted by the ministry a few days ago.

“So, we are now left to look for resources to take care of our teams’ preparation and participation in their various competitions and we don’t have

much time to do this,” stressed the very bitter NFF official.

Apart from the AFCON, Nigeria is also involved in the on-going FIFA U-20 World Cup in Poland and the FIFA Women’s World Cup scheduled to kick off on Friday. Nigeria has also qualified for the African U-23 Nations Cup and the FIFA U-17 World Cup, which are also scheduled for this year.

In his reaction on the dropped NFF budget, the Permanent Secretary of the Federal Ministry of Youth and Sports Development, Olusade Adesola said the ministry should not be held responsible if the NFF’s expenditure is not in the federal budget because the “federation is an independent parastatal.”

According to Adesola, “the NFF is responsible for its own

budget, which in most cases is included in the Sports Ministry’s envelope.

“You know the resources are not limited and so things are prioritized based on available resources. If the NFF did not submit its budget, it is not the ministry’s fault. Most times they choose to do things their own way independent of the ministry,”

Nigeria’s Flying Eagles will this evening take on Senegal in one of the second round fixtures of the 2019 Under-20 World Cup in Poland

Mikel, 17 Others Arrive Flying Eagles Confident of Reaching World Cup Q’finals Eagles Camp in Asaba UNDER-20 WORLD CUP

Two-time silver medalists Flying Eagles of Nigeria believe they can overpower fellow African representatives Senegal this night and reach the FIFA Under-20 World Cup quarter finals in Poland.

Monday’s encounter will kick off at 7.30pm Nigeria time.

Senegal, second at Africa’s continental tournament in Niger Republic earlier in the year, where Nigeria finished fourth, topped Group A in Poland to reach the Round of 16, with Nigeria just squeezing through as one of the best four third-place finishers.

However, the good old cliché says football is no mathematics

and anything can happen when eleven players oppose another set of eleven players. Even at the tournament in Poland, one can reflect on the group stage elimination of a skillful and cohesive Portuguese team after being forced to a draw by homeward-bound South Africa, just as Norway, who pounded Honduras 12-0, left the tournament on the same day as their victims.

Coach Paul Aigbogun has close to a full squad to choose from meaning tall defender Valentine Ozornwafor would be back at the heart of defence to partner Aliu Salawudeen. But midfielder Jamil Muhammad,

who picked up a knock in the loss to USA on Monday last week, is out of the tournament proper. Ayotomiwa Dele-Bashiru could return to link up with Kingsley Michael in midfield.

All goal-scorers from the 4-0 thumping of Qatar on the opening day – Maxwell Effiom, Ikouwem Utin, Dele-Bashiru and Aliu Salawudeen – as well as striker Tijani Muhammed who restored parity from the spot against Ukraine on Thursday in Bielsko-Biala, are all fit to try and chisel Senegal to bits.

On arrival in Lodz on Saturday, the Flying Eagles did an inspection of the Stadion

Widzewa, before settling down for training. The team also trained on Sunday evening ahead of the clash with the Junior Lions of Teranga.

The seven-time African champions are yet to truly impress in Poland since their opening day 4-0 lashing of Qatar in Tychy.

A 0-2 loss to USA and 1-1 draw with Ukraine, both in BielskoBiala, meant the Flying Eagles had to sneak into the knockout rounds, but the spirit in camp is high following qualification, and the prospect of squaring up to another African team appears to be engendering unspoken steel determination in the playing body.

Eighteen Super Eagles players have reported for international duty in the Delta State capital, Asaba, as the national team begins preparations for the 2019 Africa Cup of Nations in Egypt.

The list of players in camp is headlined by former Chelsea stalwart John Mikel Obi, who is making a return to the squad after a self-imposed sabbatical that lasted for one year.

According to allnigeriasoccer. com the first 10 of the 18 players in camp include: Leon Balogun, Jamilu Collins, Moses Simon, Chidozie Awaziem, Semi Ajayi, Samuel Kalu, Oghenekaro Etebo, John Ogu, Victor Osimhen.

Other players expected to troop

into camp last night include; Francis Uzoho, Ikechukwu Ezenwa, Daniel Akpeyi, Ola Aina, Abdullahi Shehu, William Troost Ekong, Kenneth Omeruo, Wilfred Ndidi, Ahmed Musa, Henry Onyekuru, Odion Ighalo, Alex Iwobi, Paul Onuachu, Kelechi Iheanacho and Samuel Chukwueze.

Nigeria will confront Zimbabwe at the Stephen Keshi Stadium on Saturday, June 8 and tackle Senegal in their last friendly in Ismailia, Egypt on Sunday, June 16.

The three-time Africa champions will train in Asaba for about one week before departing for Egypt aboard a chartered aircraft.

Alibaba, Others to Feature in NTA/HotSports’ AFCON 2019 Live Broadcast For viewers of the forthcoming Africa Cup of Nations starting in Egypt on June 21, it will be a ground-breaking broadcast as the Nigerian Television Authority (NTA) and HotSports Media Group will present a blend of football and comedy in its presentation as well as analysis of the matches.

With HotSports being the Official Marketing Agency of AFCON 2019 and beaming all the 52 matches on the terrestrial channels of the NTA, Africa’s largest television network, the company has added spice to the offering by enlisting the participation of comedy legend Atunyota Akpobome (well known as Alibaba) leading a

corps of A-list comedians in a move clearly unprecedented in the live football telecasting in Nigeria.

Receiving Alibaba at the headquarters of HS Media Group in Lagos at the weekend, the Group’s President and Chief Executive Officer, Taye Ige said the marriage of football and comedy would give fans and broadcast sponsors a very pleasurable and rewarding tournament “We want to achieve a significant milestone in football broadcasting by bringing sports and entertainment together in the terrestrial live studios of AFCON 2019. We want to produce a memorable event

that will remain in the minds of football loving Nigerians for many years to come,” Ige assured.

Alibaba, who is undoubtedly No 1 in the Nigerian comedy space, said that he is glad to be part of the AFCON 2019 live studios innovation as he strongly believes that the combination of sports and comedy have the strong potential to attract Nigerian fans to their first love – football.

“Football and comedy will provide a unique platform to project a tournament as big as the African Nations Cup where millions of Nigerian football fans will stay glued to their screens in support of their darling Super

Eagles in Egypt,” Alibaba said.

He explained the rationale for the unique offering: “There is going to be a synchronisation of comedy and sports to achieve entertainment and push the envelope of pleasure for viewers. Across the world, there is a convergence of entertainment.

There is hardly a sporting event that doesn’t open with fanfare.

You have a big star entertaining.

Football has also taken on that dynamics.

“If you listen to commentators, the humour with which they explain the activities on the field makes you want to listen to every word or watch every second of the game. When you’re watching a game, if the volume

is down you don’t enjoy it. If you’re English-speaking and the commentary is in French, for instance, you’ll like to know how the commentator describes that action.

“Listen to the old tapes of Ernest Okonkwo, you’ll hear him describe certain actions on the field as ‘ballistic missiles’ etc. He also nicknamed some players like Mathematical, Blockbuster, Chief Justice and so on. Many fans still remember these humour elements years after they have forgotten the matches themselves.

The Super Eagles, who will feature at Egypt 2019 in Group B, will open their campaign to win the title for the fourth time on June 22 against Burundi.

Other teams in the group are Guinea and Madagascar.

Other tournaments in the bouquet of the NTA/HotSports marketing partnership include the U23 Africa Cup of Nations (the 2020 Olympics soccer qualifiers that will be hosted by Egypt in November, this year), Africa Women Cup of Nations (Congo Brazzaville 2020), U20 Africa Cup of Nations in 2021 in Mauritania, the U17 Africa Cup of Nations in Morocco also in 2021 and CAF Super Cup 2020.

Founded in 1996, HotSports has exciting and authoritative sports broadcasting packages that offer brand owners a vehicle to the widest sports loving audience in Nigeria.

54

MON Ë&#x153; ÍąË&#x153; Ͱ͎ͯ͡ Ëž T H I S D AY

MONDAYSPORTS

Anthony JoshuaVows to Reclaim His Belts after Sensational Defeat Anthony Joshua has vowed to â&#x20AC;&#x153;get the belts backâ&#x20AC;? after calling his sensational heavyweight world-title defeat by Andy Ruiz Jr a â&#x20AC;&#x153;minor setbackâ&#x20AC;?.

Joshua, 29, was floored four times as Ruiz defied underdog status to win in seven rounds and deliver a true shock to the sport at Madison Square Garden.

He said: â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s a test of character. Iâ&#x20AC;&#x2122;ll see what is next and move on.â&#x20AC;?

Promoter Eddie Hearn said a rematch is a â&#x20AC;&#x153;must winâ&#x20AC;? because Joshuaâ&#x20AC;&#x2122;s options will be â&#x20AC;&#x153;nothing after thatâ&#x20AC;?.

A rematch clause was part of the contract and Hearn said he expected it to take place â&#x20AC;&#x153;in England in November or Decemberâ&#x20AC;?. Ruiz himself says he will take the contest at any time.

Joshua had a concussion test after falling to a first defeat of his 23-fight career against a man who took the contest at short notice when original opponent Jarrell Miller failed drugs tests.

After scoring a third-round knock down, he was floored twice before the end of the round and put down twice more in the seventh before the bout was waved off.

Sitting alongside Joshua at a post-fight news conference, Hearn said his fighter will want the repeat fixture more with â&#x20AC;&#x153;every day that passesâ&#x20AC;?.

Joshua quietly responded: â&#x20AC;&#x153;I think thatâ&#x20AC;&#x2122;s rightâ&#x20AC;?.

He added: â&#x20AC;&#x153;Winning is everything. I am not going to sit here and say â&#x20AC;&#x2DC;losing is fineâ&#x20AC;&#x2122;. Not in my book. But if you do happen to lose, adjust and bounce back. But I do not condone losing in any form. This is war, battle, so whatâ&#x20AC;&#x2122;s next?â&#x20AC;?

Joshua, who lost the IBF, WBA and WBO world titles, was asked about potential fights with WBC world champion Deontay Wilder and Tyson Fury. â&#x20AC;&#x153;I still want to compete with those men but a rematch with Andy Ruiz Jr is where we are at,â&#x20AC;? he said. â&#x20AC;&#x153;Iâ&#x20AC;&#x2122;m still a champ and I will rectify it to get the belts back.â&#x20AC;?

Hearn said Joshua got â&#x20AC;&#x153;sloppyâ&#x20AC;? and expects the defeat to â&#x20AC;&#x153;devastateâ&#x20AC;? his fighter, adding Ruiz had pulled off â&#x20AC;&#x153;one of those big upsets in heavyweight historyâ&#x20AC;?.

Much had been made of Joshua competing in the US for the first time, with hopes high he could land an eye-catching win that would build his profile in the country.

He was priced at 1-25 with bookmakers, with many pundits expecting Ruiz to struggle to make it past the opening few rounds. â&#x20AC;&#x153;It was a new environment and that is a factor but he should be beating Andy Ruiz,â&#x20AC;? added

Hearn. â&#x20AC;&#x153;AJ must win that rematch in the UK because there is nothing after that.â&#x20AC;?

Ruiz warned he will be â&#x20AC;&#x153;more motivated as a championâ&#x20AC;? and vowed to take the rematch at â&#x20AC;&#x153;any timeâ&#x20AC;? after turning the heavyweight division on its

head.

In becoming Mexicoâ&#x20AC;&#x2122;s first world heavyweight champion he now holds three of the four major belts, with Wilder in possession of the other.

Journalists threw names like James â&#x20AC;&#x2DC;Busterâ&#x20AC;&#x2122; Douglas - who upset Mike Tyson in 1990 - and

Hasim Rahman - who beat Lennox Lewis in 2001 - at Ruiz, who simply said: â&#x20AC;&#x153;I am still pinching myself. â&#x20AC;&#x153;I wanted to prove everyone wrong, all the doubters, I was looking at comments. â&#x20AC;&#x153;This is not going to be the only victory. I am not going to

let these belts go. â&#x20AC;&#x153;I am trying to make a legacy and a big name for myself.â&#x20AC;?

Ruiz, who started boxing aged six, told media during fight week he considered giving up because of criticism of his body shape.

Anthony Joshua (on the canvass) suďŹ&#x20AC;ered his ďŹ rst defeat as a pro boxer in his ďŹ rst ďŹ ght in the USA at the weekend

SNEPCO JUNIOR TENNIS

Suleiman Ibrahim, Omolayo Bamidele Emerge Winners Suleiman Ibrahim on Saturday in Lagos recovered from a first set loss to upset three-time junior tennis circuit champion, David Dawariye from Rivers State 4-10, 10-5, 10-7 to record his first Boys 16 title of the SNEPCo Junior Tennis Championship.

In their last meeting a month ago, Suleiman fell a set behind

but started a comeback surge that saw him take the second set and lose a close final set. This time, the lanky Fulani boy with a sweet smile followed through with his comeback effort.

Another consistent champion, Seun â&#x20AC;&#x153;Nadalâ&#x20AC;? Ogunshakin from Ekiti was also dethroned by Mohammed Idris, another Abuja-based Fulani boy from

the Abelife Tennis Academy 7-10, 10-6, 12-10.

However three girls from Ekiti made up for Ogunsakinâ&#x20AC;&#x2122;s loss by sweeping the Girls 12, 14, and 16 titles. Faith Adeusi defeated â&#x20AC;&#x2DC;small but mightyâ&#x20AC;&#x2122; Favour Amaechi from Rivers 10-6, 10-7 to win the Girls 12 event; Esther Oni won a tense third set against Schola

Otu to take the Girls 14 title while Omolayo Bamidele took the Girls 16s crown by besting Favour Moses from Kaduna 12-10, 10-2.

The Boys 14 title was won by a first timer, Ganiyu Mubarak from Oyo State who took full advantage of the absence of defending champion, David Ekpeyong from Akwa Ibom.

Mubarak defeated Isaac Danjuma from Abuja 10-8, 9-11, 10-5.

The grand finale which attracted several dignitaries had the Managing Director of SNEPCo, Bayo Ojulari as guest of honour.

In his remarks, the Ojulari said SNEPCo and their joint venture partners were very

happy with the exciting tennis played by the boys and girls and the very high standard of the competition. â&#x20AC;&#x153;We shall continue to sponsor this eventâ&#x20AC;? he concluded.

The managing director was represented by Segun Owolabi, the director of finance of the oil and gas giants.

NFF Partners Solaja on Landmark Feet â&#x20AC;&#x2DC;nâ&#x20AC;&#x2122;Tricks Set to Begin 2019 African Book on Nigerian Football Freestyle Football Championship The Nigeria Football Federation (NFF) is the principal sponsor of a landmark book on Nigerian Football titled â&#x20AC;&#x2DC;Super Eagles At 70: Soaring On The Wingsâ&#x20AC;&#x2122; which was written by foremost football writer and analyst, Kunle Solaja.

Described by the author as â&#x20AC;&#x153;a compendium on the Super Eagles written in lucid and infographic grammar,â&#x20AC;? the book contains about every information that a researcher or reader may desire about Nigeriaâ&#x20AC;&#x2122;s National Team since it was launched on 26th June, 1949.

It traced the history of the team from the days of UK Tourists through Red Devils, to Green Eagles and then to Super Eagles, and is a literary celebration of 70 years of the Nigeria senior squad. The book at the same time celebrates 60 years of the nationâ&#x20AC;&#x2122;s supreme football-governing body, Nigeria Football Federationâ&#x20AC;&#x2122;s affiliation with the continental body, CAF and the world body, FIFA. President of the Nigeria Football Federation, Mr. Amaju Melvin Pinnick, said: â&#x20AC;&#x153;Mr. Solaja is an oak tree in

football journalism in Nigeria, Africa and the world at large, and the NFF as an institution is happy to partner him on this memorable project. â&#x20AC;&#x153;I have gone through the book; it is a readerâ&#x20AC;&#x2122;s delight.

More than that, it will be a great arrival on the shelves in an industry that is suffering from paucity of well-written books.â&#x20AC;?

An erudite journalist and diarist extraordinaire who has laid down the marker for excellence in his discipline in several decades of practice, Mr. Kunle Solaja also has to his name two remarkable efforts on Nigerian Football: Super Eaglesâ&#x20AC;ŚThrough The Ages and Going for Goalsâ&#x20AC;Ś Unfolding Nigerian Footballâ&#x20AC;&#x2122;s Hidden Stories.

Gifted with an eye for detail and lucid writing skill, Solaja has travelled the world in three decades of sterling service to football journalism, and his latest effort has also been applauded by NFF 1st Vice President Seyi Akinwunmi, 2nd Vice President Shehu Dikko, General Secretary Mohammed Sanusi and two former Nigerian internationals of note,

Patrick Ekeji and Olusegun Odegbami. Dr. Larry Izamoje, Chairman of Brila Sports Radio, has also applauded the contributions of Solaja to sports journalism as a whole.

The author has served time at some of the countryâ&#x20AC;&#x2122;s leading media houses, including the now-defunct Concord newspapers, The SUN newspapers and The Guardian. While at Concord, he also served as personal assistant on sports to the international business mogul and politician, Moshood Kashimawo Olawale Abiola, of blessed memory.

While the country Nigeria has been to the FIFA World Cup finals on six occasions, Russia 2018 was Solajaâ&#x20AC;&#x2122;s eighth appearance at the Mundial alongside coverage of other FIFA events like the FIFA Confederation Cup, FIFA U20 World Cup and the FIFA U17 World Cup, as well as several Olympic Games and the Africa Cup of Nations.

The book will be launched in Lagos, days before the commencement of the 32nd Africa Cup of Nations finals in Egypt.

Sunday Okobi Feet â&#x20AC;&#x2DC;nâ&#x20AC;&#x2122; Tricks International Limited has been given the nod by the World Freestyle Football Association (WFFA) to host the 2019 edition of the African Freestyle Football Championship for another three years in Nigeria.

This announcement was made by the Chairman of Feet â&#x20AC;&#x2DC;nâ&#x20AC;&#x2122; Tricks, Mr. Valentine Ozigbo, at the press conference held recently at the Federal Palace Hotel in Lagos to herald the 2019 edition of the African Freestyle Football Championship.

The maiden edition of the championship which took place in 2017 was hallmarked with a row of exciting freestyle football activities, and the 2018 edition, a lot of sponsors including: MTN Nigeria, Heritage Bank, GAC Motors, Sprite, StarTimes, Federal Inland Revenue Service (FIRS), Eko Disco, among others, made the game more robust and fun-filled.

Freestyle football is described by the WFFA as â&#x20AC;&#x153;the art and sport of juggling a football using all parts of the body to entertain audiences and outperform opponents; a fusion of tricks with a ball,

dance and music.â&#x20AC;?

Ozigbo disclosed at the event that the registration for this yearâ&#x20AC;&#x2122;s tournament is currently open to both male and female freestylers of African descent who wish to attend, which can be done on the companyâ&#x20AC;&#x2122;s website www.feetandtricks.com.

According to the company boss, the Nigerian contestants will be shortlisted through four Regional Championships that will be hosted in Lagos, Warri, Owerri and Abuja in June and July this year, at the following venues and dates â&#x20AC;&#x201C; at Rowe Park Yaba, Lagos on June 22; Brownhill Event Centre, Warri, on June 30; Cubana Lounge, Owerri on July 6 and at the Central Park, Abuja on July 13.

The shortlisted participants who emerge from the qualifying rounds will contest at the finals which will hold between September 14 and 15 2019, at the Balmoral Convention Centre, Federal Palace Hotel in Lagos.

For other contestants from other parts of Africa, according to Ozigbo, all they need to do is to register directly for the championship in September and â&#x20AC;&#x153;they will be advised on the rest of the processes.

The African male and female Freestyle Football Champions would thereafter be selected. â&#x20AC;&#x153;We are excited to have started the drive to pave a new direction for freestyle football in Africa. â&#x20AC;&#x153;In this yearâ&#x20AC;&#x2122;s edition, we expect at least 30 African countries to be represented at this Championship as many have already registered. We will work on the continuous development of African freestyle talent and continually exploit all available resources to create more awareness for the sport and we are grateful to our sponsors and partners. This year, we will be introducing Panna game in the competition to further excite the audience and promote the totality of freestyle.â&#x20AC;?

In his remark, while congratulating the Feet n Tricks team, Co-founder and Head of Global Partnerships, WFFA, Daniel Wood, said: â&#x20AC;&#x153;Feet n Tricks have proven that they can produce world-class events and we are so excited to be extending our partnership. We are fully committed to creating opportunities for young people and this event is to be the focus point for our sport in the continent of Africa.â&#x20AC;?

T H I S D AY ˾ MONDAY, JUNE 3, 2019

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MONDAYSPORTS

Super Eagles’ Almost Ruined Our Careers in Russia, Says Messi Femi Solaja áÓÞÒ ËÑÏØÍã ÜÏÚÙÜÞ Former World Footballer of the Year and Argentina Captain, Lionel Messi, has revealed how the 2-1 victory the Albeceleste recorded against Nigeria in their last Group D match of the 2018 World Cup in Russia remains one of his most important matches with the national team.

The FC Barcelona captain, who is yet to win any silverware with his country despite a trophy-laden chest with the LaLiga giants. Messi only have trophies and medals from junior competitions in Argentina colours.

In an interview with Fox Sports yesterday ahead of the Copa America tournament, Messi revealed that if Argentina had lost and was eliminated by Eagles in that decisive match in St Petersburg, critics were already waiting for them back home.

He insisted that such humiliation would have pushed many players of his generation to quit the Argentine senior national team.

Nigeria was on the verge of qualification for the next round after Victor Moses’ penalty cancelled out Lionel Messi’s early strike to level score with Nigeria

having the advantage to pick the runner up ticket to the knock out phase. But Rojo’s late strike changed the permutation and the South American advanced to play cup eventual winners, France in the second round which they lost.

“When we lost and crashed out of the tournament, we knew our time was up because our preparation and focus towards the tournament was not too impressive. It would have been very humiliating if Nigeria had eliminated us at the group stage “The World Cup in Russia was a complicated period for us. But people knew we were not candidates to win. Today is different, I see a young and excited group ready for success.

“When we qualified against Nigeria in the World Cup everyone who was mocking us was silent, they wanted us to be humiliated. If we were knocked out in the groups they would have killed us all,” he disclosed.

Messi also spoke about other issues and his main rival Cristiano Ronaldo whom he said he missed greatly since he left Real Madrid for Juventus last season.

“There is no battle but

How Heineken Thrilled Fans to Exclusive Champions League Final On Saturday, June 1, football fans around Lagos experienced the UEFA Champions League in an all new atmosphere, at the upgraded Heineken House, as global sponsor, Heineken hosted hundreds of Nigerians to an exclusive viewing of the final game in line with the Unmissable campaign it launched earlier this year.

The brand’s special campaign is aimed at celebrating fans of Europe’s biggest football competition and it recorded tremendous success.

Fans who were welcomed at the all-new Heineken House by 6pm participated in an opening ceremony where some members of the brand team showcased the Unmissable journey so far highlighting key elements of the 2018/2019 season.

Heineken has, this season hosted a number of events to appreciate Nigerian football fans whose love

and viewership of the UCL has grown over time. Some of the events include a trophy tour, a novelty match featuring some club, national and international legends and viewings for the UCL games. Having already seen Liverpool and Tottenham beat huge odds to play in Madrid, fans were just as excited to see both teams give the Champions League glory their best.

With a total of two goals scored, and nice end-to-end play, every fan got their wish of an entertaining final.

Sharing their reactions, Adeyemo Daniel, one of the fans Heineken had sponsored to the game at Anfield said; “I automatically became a Liverpool fan after watching them do that comeback against Barca even without Salah, and I am happy they won today. Thank you, Heineken, for an awesome experience!”

Argentina forwards: Di Maria, Aguero, Higuain, Messi a healthy one. Cristiano is a great player and of course he motivates me to be even better.”

“Not only La Liga is missing Cristiano, I do also. He made Real Madrid more important.”

Leo also talked for how much longer does he intend to play and if he considers becoming a coach once retired: “Retiring? The day I do not enjoy football anymore, I will

quit.”

“I want to finish my career having won something with the national team.”

“When I started to play football my dream was always to reach

the national team of Argentina.”

“I do not see myself as a coach.

Pep was a unique coach for me.

I repeat, I do not see myself as a coach but if I were to become one, it would be with youth players.”

Foreign Goalkeepers Out to Make Splash at NPFL Playoffs iGeorge Akpayen When the Nigeria Professional Football League (NPFL) Super Six Championship Playoffs gets underway at the Agege Stadium in Lagos this week, there will be a handful of foreign players in the six clubs vying for the title and continental places.

However it is not the foreign players who will catch the fancy of followers in the NPFL as there will be up to five foreign goalkeepers in the fold of the competing sides and www.npfl. ng reports that two of them, Nana Bonsu with Rangers and Kano Pillars custodian Idrissu Ibrahim, are already commanding firstteam places.

NANA BONSU (RANGERS) Bonsu has been in brilliant form this season for the Flying

Antelopes who are now eyeing a record eighth league title. The former Ghana U17 national team goalkeeper is one of the shining lights among the foreign stoppers in the league this season, and that has been a major reason he has remained first-choice in the books of Rangers head coach Gbenga Ogunbote who prefers the 30-year-old ahead of Femi Thomas, Opubo Japhet and another Ghanaian ‘keeper Seidu Mutawakilu.

The former AshantiGold man who joined Rangers in January 2016 on a free brings to mind legendary Ghanaian goalkeeper Edward Ansah who remains famous in Nigeria’s top-flight for his time at some top clubs in the 1980’s to 1990’s including Abiola Babes, Leventis United and Iwuanyanwu Nationals

(now Heartland).

IDRISSU IBRAHIM (KANO PILLARS) The former King Faisal and Ashanti Gold goalkeeper joined Kano Pillars on a two-year deal at the start of this season at the age of 32. Of course his signing raised eyebrows in the city of Kano as ‘Sai Masu Gida’ were in dire need of a proven stopper following the departure of David Obiazo to rivals Plateau United after a fallout over their defeat at the AITEO Cup final to Rangers last year.

With a floundering Danladi Isah who by his standards should be commanding the number one jersey but remains a bit rusty owing to little playing time, Idrissu easily claimed the position between the sticks this season. The Ghanaian goalkeeper has taken to the number one spot like a duck to water and surprisingly finished with 11 clean sheets -- a feat only equalled by Mustapha Aliko of Niger Tornadoes, Amas Obasogie of Bendel Insurance and Plateau United’s Dele Ajiboye.

SEIDU MUTAWAKILU (RANGERS) He is another impressive Ghanaian goalkeeper in the top division. The 23-year-old in his first season with Rangers in 2017 hit the ground running but this term has found it difficult to wrest the number one position from his countryman Bonsu. Mutawakilu has fallen in the pecking order of goalkeepers at Rangers and has only been handed just one appearance when the Enugu club suffered a 0-1 defeat at Wikki Tourists in Round 22 in the regular season.

L-R: Babatunde Aribido, Public Relations Manager, DStv; Martin Mabutho, Chief Customer Officer, MultiChoice Nigeria; Jennifer Ukoh, Public Relations Manager, GOtv and Tope Osunkeye, Acting Head Of Marketing, MultiChoice Nigeria during the UEFA Champions League Final Live Screening held at MultiChoice Event Centre, Tiamiyu Savage, Victoria Island…last Saturday

FATAU DAUDA (ENYIMBA) It is a Ghanaian affair in the goalkeeping area, and Fatau joins in the list of foreign stoppers who will have their opportunity during

the playoffs in Lagos. He is known for his outlandish goalkeeping style and often times that has robbed him of appearances and on other occasions, he is preferred between the sticks when the going gets tough.

This season at Enyimba, the 34-year-old Ghanaian goalkeeper has shared the responsibility of stopping the opposition with Theophilus Afelokhai and Stanley Nwabali which led to four clean sheets in the regular season. He is expected to play his part between the sticks for the People’s Elephant who are also aiming for a record eighth league title.

JEAN EFALA (AKWA UNITED) The 26-year-old Cameroonian goalkeeper joined Akwa United before the start of this season, and the plan from the outset was to make him a backup to Olorunleke Ojo until the Promise Keepers suffered an opening day misfortune in the hands of El-Kanemi Warriors with the club’s number one directly involved in the error that led to their defeat.

Some followers of the NPFL still felt Olorunleke deserved a second chance but the former Giwa FC man’s confidence level suffered for it, and Akwa United’s Brazilian coach Rafael Everton turned to Efala. The ex-UMS de Loum and Cotonsport stopper simply slotted into the number one position at Akwa United and racked up seven clean sheets in the regular season. However, he lost his place at the tail end of the regular campaign to Olorunleke with brilliant performances including penalty saves against Delta Force and Yobe Desert Stars.

Efala is surely in for a straight fight for the number one position with Olorunleke when the play-offs begin in Lagos on Monday.

Monday June 3, 2019

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Price: N250

MISSILE CAN to Buhari

“With all the cries we have made about the unconstitutionality of Nigeria’s membership of the OIC, going for such conference was still the first assignment of President Buhari after being sworn in. We wonder if the President is ready to attend the meeting of the World Council of Churches or be asking the Vice President to represent him whenever the members meet.”

– CAN condemning President Muhammadu Buhari’s trip to Saudi Arabia for a meeting of OIC a day after his inauguration.

IJEOMANWOGWUGWU BEHIND THE FIGURES

ijeoma.nwogwugwu@thisdaylive.com

What’s Nigeria Afraid Of? F ollowing the ratification of the African Continental Free Trade Agreement by The Gambia on April 2nd and the deposit of instruments of ratification by the Saharawi Republic on April 29th, the agreement, which outlines the African Continental Free Trade Area (AfCFTA), came into force last Thursday. This paved the path for the agreement to enter its operational phase following a summit on July 7th. The continental trade pact seeks to remove tariffs on 90% of the goods and services traded between the signatories to the agreement and gradually eliminate other non-tariff barriers to trade on the African continent.

As of January this year, 49 out of 55 African nations had signed the framework agreement on AfCFTA, in effect creating the largest free-trade area in the world, in terms of participating countries, since the creation of the World Trade Organisation (WTO) in 1995. In so doing, the signatories took the biggest step towards advancing intra-African trade, creating employment opportunities and fostering integration on a continent that was fragmented by colonial imperialists during the Berlin Conference between 1884-85.

Regrettably, and despite the opportunity to get rid of the colonial legacy and unnatural borders that have divided the continent, Africa’s largest economy by GDP and population, Nigeria, which took over the processes leading to the AfCFTA agreement from Egypt, and even led the way at the ministerial level, unexpectedly opted out of signing the agreement on March 21, 2018. Other countries yet to sign the agreement include Benin Republic and Eritrea. But it is Nigeria’s absence from the free-trade bloc that has been the most conspicuous and set tongues wagging over the shortsightedness of the administration in not recognising the potential in the free-trade treaty.

Egged on by the Manufacturers’ Association of Nigeria (MAN) and the confounded labour unions, President Muhammadu Buhari said at the time of abstaining from the signing that Nigeria would not do anything that would undermine local manufacturers and entrepreneurs. The president of the Nigeria Labour Congress (NLC), Ayuba Wabba went on to describe the AfCFTA as “an extremely dangerous and radioactive neo-liberal policy initiative… that seeks to open our seaports, airports and other businesses to unbridled foreign interference never before witnessed in the history of the country”. Yet, Nigeria currently has the largest concentration of people living in extreme poverty in the world, with the worst hit group being children and teens under the age of 15. Worse still, this number is growing. Definitely, something has to give.

But all hope was not lost when shortly afterwards the Nigerian government assured the African Union, the driving force behind AfCFTA, that its non-participation was a delay, not a withdrawal, and promised to sign the agreement soon. It noted that more consultation was needed with local businesses in order to ensure private sector buy-in to the agreement.

Eventually, an impact assessment report on AfCFTA, as demanded by the president, was presented to him by the former Minister of Industry, Trade and Investment, Dr. Okey Enelamah. Yet, no word has been heard from the presidency on if Nigeria will key into the continent’s largest trade pact before it’s too late.

It must be said, however, that the issue of

Buhari AfCFTA did feature in the 2019 campaigns. The presidential candidate of the opposition Peoples Democratic Party, Alhaji Atiku Abubakar, who is pro-business, did promise to make Nigeria a member of the free-trade bloc. But with his loss at the polls and the country in transition mode, concerns persist over the delay on Nigeria’s participation in the regional trade bloc. Much of the delay has been blamed on the perception among manufacturers and the unions that the free-trade era will usher in massive dumping, crippling of tenuous industries, job losses, loss of economic clout in the region, and even the erosion of existing customs and border controls.

Some have also argued that Nigeria is not ripe for AfCFTA because of the prohibitive cost of doing business in the country brought on by inadequate power supply, the infrastructure deficit, rising insecurity and inaccessible seaports. But my take on all the issues that have been raised

by MAN and the labour unions is that they are grossly misplaced.

First and foremost, by joining the trade pact, we have nothing to fear about the loss of sovereign, military or regional clout. AfCFTA is a basic trade agreement – it is neither a customs union nor a single market. For Nigeria to be prosperous, we need to trade and invest with Africans.

With the population of the African continent inching towards 2.2 billion people by 2050 and populations shrinking in the rest of the world, this presents an opportunity and market for Nigerian companies to capture market share right from the formation of the free-trade area on the continent. Besides, the only way to be prosperous is to produce higher value added goods and services in Africa that will be bought

by Africans.

Indeed, just last Friday, the advisory partner with PricewaterhouseCoopers (PwC), Dr. Andre Nevin rightly added on the breakfast show on Arise TV, the broadcast arm of the THISDAY Media Group, that what the country needs is a manufacturing sector that is 10-15 times bigger than the manufacturing sector that we have today to be prosperous. So it is not today’s manufacturers that should be our focus. What we should be concerned with is how to create the environment where we have a bigger and more buoyant manufacturing sector.

According to him, “The focus should shift from exporting raw materials to semi and fully processed goods with greater value added, as raw materials only represent 5-10% of the

value of finished goods. So if we do not trade with Africans and invest in Africa, we will be poor. Africa has suffered due to colonization and fractionalization of the continent. AfCFTA presents an excellent opportunity to come out as one bloc, which will have economic relations with other big countries and regional blocs. With a potential market of 2 billion people, others will be forced to listen and contend with us just as they do with the EU (European Union).”

Another case to be made for the African freetrade bloc has to do with the trade between the 55 African Union member states currently put at about 18% of total exports from the continent, compared with 69% in Europe, 59% in Asia, and 31% in North America. This is particularly important when considering that manufactured goods make up a much greater proportion of intra-Africa trade than trade with the rest of the world, which is mainly focused on raw materials. Despite this, and the fact that Africa is the second most populous continent, Nigeria’s main trading partners are all in Europe, Asia and the Americas.

It must be added that even the goods and services that make up 18% of intra-African trade are transacted primarily through the informal sector. What this implies is that the Nigerian government has to bring the informal sector, which accounts for 65% of the Nigerian economy, to the formal sector. This can be achieved by eliminating the barriers that restrict the informal sector so that participants can transit to the formal sector. Avenues to do this include bringing down the exorbitant cost of entry by way of multiple taxation, over-regulation, bureaucratic bottlenecks, issuance of visa on arrival to citizens of AfCFTA member states, as well as ease of access in and out of the seaports. As it stands, the seaports in the Apapa area of Lagos are completely inaccessible, thus increasing the turnaround time that it takes for importers and exporters to move their goods in and out of the ports, while those outside Lagos with shallow draughts cannot be accessed by very large ships.

Protectionist barriers as advocated by MAN and labour should also be discarded, as isolationism will make it difficult for local businesses to scale abroad and thus make them less attractive for foreign direct investment. Whereas it is important to acknowledge the downside risk for local businesses and the Nigerian economy, what the government should be concerned with is how to address the problems caused by our infrastructure deficit in order to become competitive. There is no reason for the government’s inability to address these fundamental problems frontally.

By staying away from the AfCFTA, we will simply be burying our heads in the sand by not addressing the fundamental issues that make Nigeria uncompetitive. Ultimately, this will impede economic growth.

Moreover, the threat posed by an integrated African market under the continental free trade agreement will force us to raise our competitiveness level. If we can compete within the African continent, surely we can compete globally. As Nevin advocated, “Eventually market forces will defeat the case for market protection and the best way to be ahead of the curve is to prime your economy to be competitive. One of the merits of AfCFTA is that it will force us to look inwards and learn how to swim against the oncoming storm.”

Another consideration for Nigerian policy makers is for the redeployment of the humongous financial resources Nigeria currently wastes on subsidising the cost of petrol that we consume.

Just last week, it was revealed that the country had spent N11 trillion on fuel subsidies over a six-year period. For a country recording tepid economic growth and whose citizens are sliding into poverty, that is a monstrous travesty and is reflective of our penchant for wrong-headed decisions. Like I have advocated for years in this column, sensible countries subsidise production, not consumption.

Rather than spend trillions keeping the cost of petrol low, it would make more sense to channel those trillions in the manufacturing and agricultural sectors by way of direct cash transfers, grants, or tax breaks, in order to encourage production and keep prices of consumer goods low. But to ensure that the policy is not abused and in order to guard against long-term supply disruptions, such subsidies to the productive sector should be limited to not more than five years, which is sufficient time for local businesses to stand on their two feet unaided and for a focused government to keep building and improving on its infrastructure.

Even concerns about dumping can be checkmated quite effectively through the deployment of blockchain technology at our ports of entry. Blockchain is an open, incorruptible digital ledger that records commercial transactions between two parties efficiently, in a verifiable and permanent way. By design, a blockchain is resistant to modification of the data. With the introduction of blockchain, the technology will enable customs officials to detect where goods are coming from and where it is determined that they are coming from outside the continent, appropriate tariffs can be imposed.

For Nevin, the solution is to have a better view of the supply chain and make sure that African goods and services can trade freely and other goods cannot. Effectively, the rules for consumer goods coming from AfCFTA member countries will be set by Africa and another set of rules for goods coming from other continents. With this in place, concerns raised by manufacturers such as Dangote Cement that they find it more difficult to sell their goods to Benin Republic because of the tariffs and taxes imposed on their cement than it is for China to export cement to Benin, will be allayed. This is no different from what obtains in the Eurozone area today, where there are no barriers to goods and services traded among members of the EU, but barriers exist for non-members of the union. In reality, this is one of the primary reasons Britain’s exit from the EU has been so contentious, because the ease with which it moves its good and services will cease to exist once it leaves the EU. Then there is also the case to be made for entrepreneurship in Nigeria. About 49% of Nigerians aged 18-64 are entrepreneurs – almost three times the global average. As evidenced in Lagos’ Alaba International Market, perhaps the biggest new venture incubator in the world, most of these entrepreneurs work in retail. The AfCFTA would give them more options for sourcing and consequently drive their costs down.

Non-retail entrepreneurs would also benefit from the ability to build more sophisticated value chains for improved operations.

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