FRIDAY 19TH SEPTEMBER 2025

Osun PDP Asks FHC Chief Justice to Probe ‘Suspicious Letters’ in LG Funds Case Says one of the letters may have been backdated

Kayode Tokede

The Osun State chapter of the

Peoples Democratic Party (PDP) to probe the circumstances allegedly issued from his office in the state. has called on the Chief Judge of surrounding a controversial in connection with the lingering The letter purportedly the Federal High Court (FHC) letter dated September 2, 2025, local government fund crisis directed that a case before a

vacation judge be heard by that Continued on page 9

BoI to Unlock $20m After Historic Adaptation Fund’s Accreditation... Page 6

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Tributes Pour in for Victims of Afriland Fire, Tinubu, Atiku, Sanwo-Olu, Obi Mourn... Page 31

Zenith Bank’s Gross Earnings Hit N2.5 Trillion In H1 2025, Declares N1.25 Interim Dividend

Kayode Tokede

for the half year ending June 2025, posting an impressive Zenith Bank Plc has released profit before tax of N625.629 its Group financial results billion. Following this robust

performance, the Board has approved an interim dividend of N1.25 per share, a 25% increase over the N1.00 paid in the first

half of 2024, maintaining the commitment to rewarding its Bank’s position as a leading esteemed shareholders. dividend-paying Bank and The substantial dividend reinforcing its longstanding payout reflects exceptional

underlying performance. Despite higher provisioning requireContinued on page 9

Gov Mbah: Enugu Will Use Coal to Generate 1,000MW of Electricity

Vows not to treat mineral resource as stranded asset Discloses crime rate in Enugu reduced by over 80% Says Enugu Air to take delivery of six planes before year end NBCC President insists Enugu on the move, witnessing infrastructure expansion British Deputy High Commissioner: UK accounts for 65% of Nigeria’s FDI

Story on page 9

‘COME AND INVEST IN ENUGU, WE ARE OPEN FOR BUSINESS’...

L-R: Vice Chairman, Programmes Committee, Nigerian-Brirish Chamber of Commerce (NBCC), Mrs. Adenike Ibirogba; Patron, NBCC, Asiwaju Dr. Olawale Cole; President and Chairman of Council, NBCC, Prince Abimbola Olashore; Governor of Enugu State, Dr. Peter Mbah; British Deputy High Commissioner, Mr. Jonny Baxter and Chairman, Programmes Committee, NBCC, Mr. Tajudeen Ahmed, during NBCC’s “Meet the Governor Series,” which featured Mbah in Lagos... yesterday

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THISDAY • FRIDAY, SEPTEMBER 19, 2025

NEWS

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

When the Qataris Came Calling at Lagos House, Marina...

L-R: UAE Consul General in Lagos, Mr. Salem Al Jaberi; UAE Ambassador to Nigeria, H.E. Salem Saeed Al-Shamsi; Governor of Lagos State, Mr. Babajide Sanwo-Olu; and other officials of UAE Consular during a courtesy visit at the Lagos House, Marina…recently

NEC Moves to Boost Food Security Nationwide, Endorses NASENI’s Solar Irrigation Pumps Seeks President’s approval for mass production Shettima says it’s a proof that Nigerian ingenuity can compete globally Council fails to deliberate on state police Deji Elumoye in Abuja In a move to boost food security in Nigeria, National Economic Council (NEC) has endorsed solar-powered irrigation pumps produced by National Agency for Science and Engineering Infrastructure (NASENI) for national rollout ahead of the 2025 dry season farming.

The NASENI solar irrigation pump, produced to replace the petrol-powered pump, is aimed at reinforcing the country’s food security strategy, as it was expected to increase agricultural productivity, lower operational cost, yield higher incomes, and improve livelihoods.

Rising from its 152nd monthly meeting held at Council Chambers, State House, Abuja, and chaired by Vice President Kashim Shettima on Thursday, NEC endorsed the use of the solar irrigation pump and resolved to formally notify President Bola Tinubu for his approval.

In anticipation of the president’s approval and the

need to provide funding for NASENI, the council also mandated Minister of Budget and Economic Planning, Senator Abubakar Bagudu, to work out modalities of funding to enable NASENI to mass produce the solar irrigation pumps and distribute in time for the 2025 dry season.

Shettima had earlier, in his speech, said the scaled-up solar irrigation pumps was an indication that Nigerians could compete at the global level with their creativity.

He said, “We must also face the challenge of innovation in agriculture. NASENI’s scaled-up solar irrigation pumps are ready for national rollout ahead of the 2025 dry season. These pumps replace expensive petrol-powered systems, lower farmers’ costs, expand dry-season cultivation, and even provide backup power for households.

“Their advanced features, including GPS tracking, mobile app dashboards, usage monitoring, and pay-as-you-go integration,

prove that Nigerian ingenuity can compete with the world.”

According to the vice president, the innovation by NASENI “will not only boost food security but also unlock carbon credit opportunities” for farmers across the country.

Shettima hinted at other efforts by the Tinubu administration to ensure food security, saying

recently, “250,000 farmers have been insured across eight states, the 30 per cent Value Addition Bill is advancing, and the N250 billion Bank of Agriculture facility is being activated to reach smallholders.”

Based on updates from the Presidential Food Systems Coordinating Unit, the vice president said, “The Green

Emmanuel Addeh in Abuja

resource strategy had continued to yield remarkable results, as Nigeria LNG Limited (NLNG) the company now boasts a 100 has disclosed that over 400 Ni- per cent Nigerian management gerians are currently undergoing team and a workforce that is training as part of its prepara- over 95 per cent Nigerian.

Nigeria LNG’s Train 7 project tion for the takeoff of Train 7, including over 140 embedded is a major expansion of the in plant maintenance activities Bonny Island liquefied natural and over 200 community youths gas plant, aimed at boosting the preparing for future operations. country’s gas export capacity.

In a statement yesterday, The project involves adding NLNG stated that its human a seventh processing unit, expected to increase production by about 35 per cent, raising total output from 22 million tonnes per year to around 30 million tonnes.

Nigeria, 7 others sign AFRIPERF charter Nigeria and seven other African countries yesterday signed a charter to birth the African Petroleum Regulators Forum (AFRIPERF), a demonstration of the country’s leadership in Africa’s oil and gas sector.

The charter seeks to enhance cooperation and collaboration among African petroleum regulators, to ensure a safe, efficient, rewarding, equitable,

and sustainable petroleum industry.

The forum is also designed with the vision to be the premier platform for African petroleum regulators to share knowledge, best practices, and expertise, in order to attain regional excellence in petroleum regulation.

The landmark signing ceremony, chaired by the Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Com-

decisions resonate beyond these chambers.”

Other highlights of the meeting included an update on Account Balances as at September 17, 2025, which included Excess Crude Account - $ 535,823.39; Stabilisation Account - N83,495,784,133.24; and Natural Resources Account - N125,818,396,257.41.

Train 7: NLNG Says over 400 Nigerians Undergoing Training, Management Now 100% Indigenous

NUPRC Leads Push for Unified Oil Regulations in Africa Emmanuel Addeh in Abuja

Imperative Project with Brazil is being repositioned for financing, while the World Bank-backed AGROW programme is mapping priority value chains for roll-out.

“The Harvesting Hope Caravan has reached half a million citizens in eight states, building trust and grassroots mobilisation. These are lifelines to farmers and proof that NEC’s

mission (NUPRC), Gbenga Komolafe, took place on the sidelines of the 31st edition of the Africa Oil Week (AOW) in Accra, Ghana.

The event was attended by regulators from 16 African countries including Nigeria, Ghana, Somalia, Gambia, Madagascar, Sudan, Guinea and Togo. Others in attendance were: Kenya, Mauritania, Benin, Mozambique, Angola, Namibia, South Africa, Morocco.

Backed by international and local partners, Train 7 is designed to capture more value from Nigeria’s vast natural gas reserves, generate thousands of direct and indirect jobs, and strengthen government revenue from LNG exports.

It also positions Nigeria to maintain competitiveness in the global gas market, where demand for cleaner energy is steadily rising.

The NLNG statement signed by the General Manager, External Relations and Sustainable Development, Sophia Horsefall, disclosed that the company said

this when it was named the Best Corporate Training Partner 2025 by the Oil and Gas Trainers Association of Nigeria (OGTAN) at the 4th edition of OGTAN Human Capital Development (HCD) Awards held in Lagos.

Receiving the award on behalf of the company, Emmanuel Uleh, Head, Nigerian Content Compliance Assurance & Monitor, said NLNG’s commitment to human capital development was both a Nigerian Content obligation and an integral part of its broader Corporate Social Responsibility (CSR) agenda, which prioritises education.

Tuggar to Represent Nigeria at WEF’s 2025 Sustainable Development Impact Meeting

Dike Onwuamaeze

The World Economic Forum (WEF) has announced that Nigeria’s Minister for Foreign Affairs, Mr. Yusuf Maitama Tuggar, would be among over 1,000 leaders and experts from business, government, international organisations and civil society that will come together at its “Sustainable Develop-

ment Impact Meetings 2025 to Foster Collaboration on Shared Challenges.”

The meeting, which will take place from September 22 to 26 in New York City, United States of America, will strengthen collaboration and renew action on sustainability and inclusive growth.

It will also provide dialogues on accelerating

progress in economic growth, responsible technology and sustainable development.

WEF said the meetings, taking place on the margins of the 80th United Nations General Assembly and Global Goals Week, would serve to accelerate renewed progress on the United Nations Sustainable Development Goals.

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PRESENTATION OF AWARDS...

L-R: Chief Executive Officer, IIASDG Africa, Mr. Chukwuebuka Anyaduba; recipient, Headlamp Award “Community CSR Champion” and CEO, Magastar Media Communications, Dr. Adeniyi Ifetayo; and Manager, Megastar Magazine TV, Ms. Monica Aigbe, during the presentation of awards by Headlamp Coordinator to Dr. Adeniyi, Abuja, yesterday

BoI to Unlock $20m After Historic Adaptation Fund’s Accreditation James Emejo in Abuja The Bank of Industry has been accredited by the board of Adaptation Fund to act as implementation entity for the latter’s climate related interventions in the country.

The fund, in its approval notice stated that it resolved to

accredit the bank as a National Implementing Entity (NIE) of the intervention for five years.

Managing Director/Chief Executive, BoI, Dr. Olasupo Olusi, said the certification will enable the bank to access about $10 million for a single climate adaptation project and a total of $20 million for nationwide

interventions.

The development was contained in a statement issued yesterday by Divisional Head, Public Relations, BoI, Theodora Amechi.

The recognition effectively positions the development finance bank to recommend and attract funding to finance

projects in communities affected by adverse climate conditions.

Climate change presents critical and multifaceted challenges for Nigeria, impacting many sectors and exacerbating existing vulnerabilities, the statement noted.

It said increased temperatures, erratic rainfall patterns, and rising sea levels are leading to more

frequent and extreme weather events, such as floods, droughts, and heatwaves, which affect agriculture, water resources, biodiversity, and human health.

Climate-related challenges disproportionately affect the poorest Nigerians and risk derailing progress toward the Sustainable Development Goals

FG Inaugurates Pension Industry Leadership Council to Mobilise Assets for Infrastructure, Deepen Economic Impact Oloworaran: Bold reforms underway to unlock benefits for retirees, declares no outstanding liabilities to pensioners under CPS Akume, Edun, Cardoso hail initiative to enhance transparency, accountability, growth

James Emejo in Abuja

Secretary to the Government of the Federation (SGF), Senator George Akume, yesterday, inaugurated the Pension Industry Leadership Council (PILC), opening a new chapter in the country’s drive towards “financial security, economic transformation, and generational stability for our teeming, hardworking, dedicated and loyal workers”.

The council will serve as a permanent multi-stakeholder advisory council designed to unify voices across the pen-

sion ecosystem and accelerate growth.

The body seeks to facilitate strategic dialogue, foster innovation, and mobilise collective action to strengthen and sustain a sound, inclusive, and sustainable pension system.

Speaking at the inaugural meeting of the council in Abuja, Akume stated that the establishment of the council symbolised foresight and testified to the huge benefits derivable from synergy among key industry players, including the operators, government, and social partners.

Minister of Finance and

Coordinating Minister of the Economy, Mr. Wale Edun, said the federal government will sustain fiscal discipline and supportive policies to ensure the pension system remained robust, transparent, and impactful.

Equally speaking at the occasion, Governor of Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, said the initiative will provide transparency for enhanced regulatory compliance, as well as trust and integrity of the pension system.

Director General/Chief Executive, National Pension

Commission (PenCom), Ms Omolola Oloworaran, who also chaired the PILC, said bold reforms in the pension industry were underway in the coming days.

Oloworaran also declared that there were currently no outstanding benefits to retirees under the Contributory Pension Scheme (CPS), adding that all accrued rights have been settled up till September 2025.

The PenCom DG said delays in pension payment were now a thing of the past, stating that no Pension Fund Administrator (PFA) currently owes any pensioner under CPS. Akume said, “Most importantly, it (PILC) affirms our shared commitment to ensuring that every Nigerian who labours in hope today must be guaranteed dignity and security tomorrow.”

(SDGs).

However, Olusi has positioned the financial institution as a global development partner in climate finance, becoming the first Nigerian implementing entity ever certified by the fund.

Essentially, the Adaptation Fund was established under the Kyoto Protocol of the United Nations Framework Convention on Climate Change (UNFCCC) with the World Bank serving as Trustee.

The fund finances projects and programmes that help vulnerable communities in developing countries adapt to climate change.

The Initiatives for funding are based on country needs, views and priorities.

Since 2010, the fund has committed about $1.25 billion for climate change adaptation and resilience projects and programmes, including 183 concrete, localised projects in the most vulnerable communities of developing countries around the world with about 45.8 million total beneficiaries, the statement added.

2025 Budget: NASS Demands Withdrawal of Contract Circulars Over Delayed Capital Releases

As N23.9tn capital allocation faces 2026 roll-over Tinubu to Attend Wedding of Senator Abdul’aziz Sunday The resolution was jointly streamline the commencement Aborisade in Abuja adopted by the Appropriations of the 2025 capital projects with Yari’s Son, Nasirudeen, in Kaduna Today In a significant move that may alter Committees of both the Senate the formal issuance of spending trajectory of the 2025 budget and the House of Representatives authority.

He’ll also pay courtesy visit to widow of former President Muhammadu Buhari, Aisha the Adeola said, “Implementation of implementation, the National As- during a joint budget assessment

Deji Elumoye in Abuja

President Bola Tinubu will depart Abuja on Friday, September 19, 2025 for Kaduna, the capital of Kaduna State.

The President, according to a release issued yesterday by his Adviser on Informa-

tion and Strategy, Bayo Onanuga, will attend the wedding ceremony between Nasirudeen Yari and Safiyya Shehu Idris during the visit.

Nasirudeen is the son of the senator representing Zamfara West, Abdul’aziz Yari.

President Tinubu is also

billed to pay a courtesy visit to Aisha, the widow of the late former President of Nigeria, Muhammadu Buhari, at the family residence in Kaduna.

The President will return to Abuja on the same day after the visit.

sembly on Thursday demanded the immediate withdrawal of all circulars issued for contract awards under the 2025 fiscal year.

The federal parliament cited delays in capital budget execution, signaling that the N23.9 trillion capital component may extend into the 2026 fiscal cycle.

session with the federal government’s economic team at the Senate wing of the National Assembly.

Chairman of the Senate Committee on Appropriations, Senator Solomon Olamilekan Adeola (APC, Ogun West), who read out the resolution, stressed the need to

the capital component of the 2024 budget continues until December 31, 2025.

“The capital implementation for 2025 should commence immediately, and the Authority to Incur Expenditure (AIE) must be issued within seven days of this meeting.

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32ND ANNUAL GENERAL MEETING OF RED STAR EXPRESS...

L-R: Company Secretary, Red Star Express Plc, Frances Ndidi Akpomuka; Group Managing Director, Auwalu Babura; Chairman, Suleiman Barau; and Group Executive Director, Charles Uche Ejekam, during the company’s 32nd annual general meeting, Lagos, yesterday Photo: Abiodun Ajala

UBA Delivers N335 Billion PAT with Strong Earnings, Balance Sheet Growth Gross earnings grew by 17.28% to N1.608trn Alawuba: UBA is committed to consistently delivering long-term value to its shareholders

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has released its financial performance for the Half-year ended June 30, 2025, showing remarkable growth across its major business segments, driven by strong earnings.

The audited financials released to the Nigerian Exchange Limited (NGX) on Thursday, showed that the bank recorded significant growth in its gross earnings and profit after tax, signalling robust balance sheet expansion.

At the end of the first two quarters of the year, and despite the tough global macroeconomic climate in Nigeria and major countries in Africa where the bank operates, UBA’s gross earnings grew by 17.28%, rising from N1.371 trillion in June 2024 to N1.608 trillion in the period under review.

Interest income also increased by 32.89% from N1.003 trillion in June last year to N1.334 trillion, while total assets went up by 9.71% to N33.3 trillion up from N30.3 trillion recorded in December 2024. Total Customer deposits, also leapt by 11.9% in

the same period to close at N27.6 trillion up from N24.6 trillion recorded at the end of 2024.

The results filed also showed that profit after tax which stood at N316.36 billion in June 2024, rose by 6.06% to close the half year at N335.53 billion, while profit before tax dropped slightly from N401 billion to N388 billion in the period under consideration. However, the banks’ shareholders’ funds remained strong as it increased by 23% from N3.41 trillion in December 2024, to N4.22 trillion in June 2025.

UBA’s Group Managing Director/Chief Executive Officer, Mr. Oliver Alawuba, while commenting on the results underscored the bank’s commitment to consistently delivering long-term value to its shareholders.

He said, “UBA’s first half results highlight the strength of our business and the trust our customers continue to place in us. We delivered strong double-digit earnings growth across our markets, with Profit After Tax rising year-on-year to N335 billion, from N316 billion,

underscoring the resilience of our business and the success of our strategy.”

Giving further update on the bank’s ongoing Rights Issuance Programme, the GMD assured shareholders and investors that UBA remains on track with its financial goals and projections for 2025.

“We have made significant progress on our capital raising program. Phase I of our

Governor of Bayelsa State, Senator Douye Diri, has advised the European Union to retool its approach for its impact to be more noticeable in the Niger Delta.

Diri said EU had spent huge financial resources on development initiatives in the region over the years, but stated that the communities barely felt the effect of such projects.

The governor spoke on Wednesday during a courtesy visit by Head of European

Union Delegation to Nigeria and ECOWAS, Ambassador Gautier Mignot, to Government House, Yenagoa.

He said, “It is amazing the amount of money the EU has committed to development of the Niger Delta region, particularly in Bayelsa State. But compared with the impact of such projects on communities, I believe the EU needs to look inwards.

“We do not know your processes but I think the impact of such projects would be more seen on communities in Bayelsa and its neighbouring Rivers

that the Group delivered strong top line growth, with gross earnings rising to N1.61 trillion, driven by a 32.9% increase in interest income and a 14.6% uplift in net interest Income.

“Deposits expanded by 11.9% to over N27.5 trillion, supporting balance sheet growth to N33.3 trillion, while shareholders’ funds rose 23.3% to N4.22 trillion. Capital adequacy and liquidity ratios remain well

above regulatory thresholds and provide significant buffers to support continued growth”, he explained.

On the plans for the rest of the year, Nwaghodoh said, “Our priority is to pursue growth and expansion scale and market share across markets, driving efficiency gains, scaling digital-led income streams and maintaining disciplined risk management.”

Kenyon Boosts Nigeria’s Oil Output with over 2m Barrels Recovered in 10 Years Peter Uzoho Kenyon International, an indigenous oil and gas service company, has highlighted its record of well intervention programmes in the last 10 years of entrance into the industry, revealing it has revived a number of dead wells in the Niger Delta, resulting in the recovery of over two million barrels of

Diri Urges EU to Retool Strategy, Impact in Niger Delta Olusegun Samuel in Yenagoa

Rights Issue was successfully completed, enhancing our capital

by N234.3 billion and providing a stronger buffer for growth and expansion across our markets. With Phase II currently underway, we remain firmly on track to meet the new capital requirements by the end of the year,” Alawuba stated.

UBA’s Executive Director Finance & Risk Management, Ugo Nwaghodoh, pointed out

and Delta states if properly channelled. Likewise, if other development partners toe the path of the EU, the ties would have been stronger.”

On its new Global Gateway Strategy, the governor said his administration would work closely with the Union to sustain the peace in the region and address development challenges.

Describing EU as a grassrootsoriented development partner, Diri expressed optimism that the leadership of Mignot would add more value to development of the region.

crude over the period.

Chief Executive Officer of Kenyon International, Dr. Victor Ekpenyong, disclosed this at the company’s 10 years anniversary celebration in Lagos, where the firm also rolled out its ambitious vision for the future amid ongoing global discussions about energy transition.

The event graced by former Governor of Akwa Ibom State, Obong Victor Attah, alongside other government representatives, industry leaders, and academics, showcased the company’s significant contribu-

tions to the country’s oil and gas sector over the past decade.

The occasion spotlighted Kenyon’s influence and the importance of its call for Nigeria to chart its own course in unlocking energy access through reinvigorated brownfield development.

Ekpenyong reflected on the company’s journey from its founding in 2015 to becoming a trusted partner in Nigeria’s energy industry.

He underscored Kenyon’s pivotal role in the country’s resurgence in oil production, citing interventions in

brownfield assets, deployment of modern home-grown and foreign technologies, and the ability to leverage divestment opportunities to restore production.

He stated, “Today, Nigeria produces over 1.5 million barrels of oil per day and that continues to grow. We are proud that Kenyon has been part of this progress.

Our mission is to continue reviving idle and ‘dead’ wells, introduce flexible evacuation technologies, and ultimately help Nigeria surpass three million barrels per day.

NESREA Seals 29 Facilities in South West for Violation of Environmental Laws

Michael Olugbode in Abuja

The Director General of the National Environmental Standards and Regulations Enforcement Agency (NESREA), Prof. Innocent Barikor, has made good his promise to residents of Ogijo, a community in Ogun State, as the agency sealed lube recycling facilities

for environmental pollution.

The ongoing enforcement exercise in the South West Zone of the country has also seen the sealing of 20 other facilities in Ekiti, Osun and Ogun States.

Barikor said the enforcement exercise is in line with the mandate of the NESREA, which gives the agency the responsibility of

prohibiting activities and processes which undermine environmental quality.

He noted that it had become expedient to take drastic action against noncompliant recyclers in Ogijo community in Ogun State as their operations have continued to endanger the environment and lives of the citizens.

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Global Aircraft Manufacturer, Bombardier Endorses Dangote Refinery Oil facility can serve as Nigeria’s energy reserve , says Dangote

Peter Uzoho

Canadian aerospace giant, Bombardier Inc., has endorsed the Dangote Petroleum Refinery, describing it as a world-class facility and praising its large-scale production of jet fuel as a significant boost for the aviation industry.

The Chairman of Bombardier’s Board of Directors, Pierre Beaudoin, who led a delegation on a tour of the facility, expressed admiration for the vision behind what

is now the world’s largest single-train refinery, located in Nigeria.

A statement by the Dangote Group, yesterday, said the delegation included Regional Vice Presidents of Bombardier, Hani Haddadin and Chris Davey, alongside Corporate Director Jean Bernier.

Beaudoin lauded the President of the Dangote Group, Aliko Dangote, for his foresight and commitment to transforming Africa through such a monumental project.

He said: “The refinery

makes jet fuel in large quantity, and that is good for the industry. From what I understand, their jet fuel is environmentally friendly, taking the sulphur out and that is exceptional”.

Impressed by the refinery’s use of cutting-edge technology, Beaudoin added: “For me, as an aircraft manufacturer, I like when people invest in the products that we need, and that is what I see here. It is a privilege for me to see the world’s largest single-train refinery, and I

came out with a fantastic impression of the project.”

During the visit, Beaudoin presented a prototype Bombardier aircraft to Dangote, expressing optimism that the refinery would catalyse innovation across the African continent.

“This is a world-class project. It is going to turn on innovation in Africa. It represents a lot because it means that the best project possible in the world, from a refinery perspective, is in Nigeria,” he added.

Gov Mbah: Enugu Will Use Coal to Generate 1,000MW of Electricity

Dike Onwuamaeze

Governor of Enugu State, Dr. Peter Mbah, has declared that coal deposits in the state would be used to generate at least 1,000 megawatts of power, explaining that the natural resource would not be treated as a stranded asset without assurance of adequate

compensation.

Mbah said coal deposits in the state had about 0.5 sulphuric content. He stressed that he was counting on technology to make the impact of coal utilisation on the environment minimal.

The governor made the assertions yesterday in Lagos as a guest of the Nigerian-British

Chamber of Commerce (NBCC) “Meet The Governor Series,” where he presented a business case for investment in Enugu State.

He said, “We cannot treat our coal as a stranded asset, particularly the Enugu coal, which is a premium coal.

Our target is to see how we

can use our coal to generate at least 1,000 megawatts of power.

We do have technology today that makes coal utilisation less adverse to the environment.

Essentially, that is the direction for us.

“Coal deposits in Enugu have less than 0.5 per cent sulphur content. For a lot of coal, if you

Zenith Bank’s Gross Earnings Hit N2.5 Trillion In H1 2025, Declares N1.25 Interim Dividend

ments from the industry-wide exit of the CBN forbearance regime, the Bank recorded a robust 20% year-on-year increase in gross earnings, rising from N2.1 trillion to N2.5 trillion in H1 2025. Interest income drove this performance with an impressive 60% growth, climbing from N1.1 trillion to N1.8 trillion. The Bank achieved this impressive increase in interest income through strategic repricing of risk assets and effective treasury management.

Commenting on the H1 2025 results, Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, noted that Zenith Bank’s performance reaffirms the creativity and innovation of our unicorn workforce in a dynamic operating environment.

“Despite the huge provisioning requirements as the industry exits the CBN forbearance regime, we’ve seen substantial improvement in our asset quality. Our balance sheet remains robust with adequate capital buffers, positioning us well to seize opportunities across our key markets,” she said.

Building on this strong foundation, the GMD/CEO indicated that the Bank expects to accelerate its growth trajectory in the second half of the year following the successful exit from CBN forbearance. She assured shareholders that the robust performance, combined with the improved asset quality, positions the Bank to deliver exceptional returns, with expectations of a quantum yearend dividend for 2025. “Our shareholders can look forward to continued value creation as we leverage emerging opportunities and maintain our strategic growth with strong corporate governance culture,” she noted,

highlighting the Bank’s track record of improving dividend payments even during challenging periods.

Looking beyond H1 2025, she reinforced her optimistic outlook: “We’re on a solid growth path that we expect to maintain through the rest of 2025 and into 2026. Our focus remains on innovation, digital transformation, and developing solutions that address our clients’ changing needs. With improving market conditions, we’re well placed to sustain this momentum whilst maintaining responsible leadership and delivering exceptional value to all our stakeholders.”

The Bank’s financial performance indicates strong fundamentals in a transitioning macroeconomic environment, with profit after tax reaching N532 billion and earnings per share standing at N12.95 for the period under review. Net interest income demonstrated exceptional growth, surging 90% year-on-year from N715 billion to an impressive N1.4 trillion, whilst non-interest income contributed N613 billion in H1 2025.

The Bank’s total assets expanded to N31 trillion in June 2025, representing steady growth from N30 trillion in December 2024, underpinned by a robust and well-structured balance sheet. Customer confidence remained strong, with deposits growing by 7% from N22 trillion to N23 trillion in June 2025.

The loan book stood at N10.2 trillion in June 2025 against N11 trillion in December 2024., reflecting the Bank’s prudent risk management approach.

The Bank delivered strong returns with ROAE at 24.8% and ROAA at 3.5% as at June 2025.

The cost-to-income ratio stood at 48.2%, reflecting necessary provisioning for regulatory compliance and the impact of inflationary pressures. Asset quality improved significantly, with the NPL ratio dropping to 3.1% in June 2025 from 4.7% in December 2024. The Bank maintains a fortress balance sheet with capital adequacy at 26% and liquidity ratio at 69%, both comfortably exceeding regulatory requirements.

In a statement to the investing community, the Bank emphasised that its H1 2025 performance aligns with global sustainability

objectives, demonstrating its commitment to integrating ESG principles into both products and operations. The Bank has leveraged its financial strength to create lasting impact, particularly through initiatives supporting SMEs and women entrepreneurs with capital access, training, mentoring and market opportunities. The loan portfolio incorporates multitiered processes to ensure ESG compliance, whilst the adoption of cleaner energy sources across business operations reflects the Bank’s responsible banking philosophy and environmental commitments.

Dangote, who was accompanied by the Group Vice President for Oil & Gas, Devakumar Edwin in receiving the delegation, led the Bombardier team on a tour of the refinery.

He stated that the facility was not only built to world-class standards but also produces petroleum products that meet international specifications.

He noted that the refinery was designed to comply with emission and effluent standards set by the World have 1.0 per cent you are still okay. But we have 0.5 per cent.

Our coal is also very good to fire power plants due to its high calorific value. So, we are on that and we are not going to warehouse our coal resources.

“However, if we have to warehouse or treat coal as a stranded asset, then there has to be a conversation on compensation.”

Mbah also said his administration had cut the crime rate in the state by 80 per cent and was putting infrastructure in place to attract three million visitors per year.

He said, “Businesses are not designed to absorb security challenges. So, we have to get that out of the way. That is why we invested hugely in the area of security to build infrastructure that will enable us to defeat criminal activities.

“Today, in Enugu we have reduced the crime rate by over 80 per cent.”

Mbah revealed that in furtherance of tourism’s contribution to the economy of the state, he had

Dangote Bank, the US Environmental Protection Agency (EPA), the European Union (EU), and Nigeria’s Department of Petroleum Resources (DPR).

completed the Enugu International Conference Centre (ICC) that hosted 20,000 participants during the 2025 Nigerian Bar Association’s Annual General Conference, while the ICC 5-Star Hotel was nearing completion and would be delivered soon.

According the governor, “Enugu naturally lends itself to tourism. We are building the Cross of Hope, which is something we want to put in place to attract religious tourism. The highest point in Enugu State is about 580 meters above sea level and we are bringing a massive cross of about 100 metres to put on its highest point.

“Our plan is to bring in three million visitors. So, we worked with an investor to get the concessioning of the Akanu Ibiam International Airport.

“Hopefully, the international wing of the airport will be operational by the first quarter of 2026. We are also investing to build the cargo terminal.

“We are looking at bringing in Continued on page 35

Osun PDP Asks FHC Chief Justice to Probe ‘Suspicious Letters’ in LG Funds Case

judge substantively even after the vacation.

Addressing a press conference in Osogbo yesterday, the state PDP chairman, Hon. Sunday Bisi, said the letter was signed not by a judge but by an unidentified individual on behalf of a personal aide of the Chief Judge. He described the letter and its circumstances as “a bizarre and unprecedented abuse of judicial process.”

According to the PDP, the suspicious letter was written despite the fact that no party before the court had applied for such a transfer.

The party also alleged that the letter may have been backdated to achieve political ends, warning that such action, if confirmed, would amount to a grievous injury on the nation’s judicial integrity.

The PDP chairman said that was the second letter that would be issued on that case by nonjudicial officers who claimed to be working in the office of the Chief Judge.

“We are calling for nothing less than a thorough probe of those letters. Assignment of cases is a judicial decision.

Judicial powers can not be exercised by proxies or by personal assistants. They are reserved exclusively for judicial officers (judges). Unfortunately, that is the abnormal situation we are confronted with and which informed this press conference.

“On the 21st of August, 2025, a letter was issued and signed by one Joshua Ibrahim Aji, Esq., who described himself as Special Assistant to the Honourable Chief Judge of the Federal High Court. In that letter, judicial functions were purportedly exercised, assigning a judicial duty to a judge of the court. This is a gross aberration. A Special Assistant is not a judicial officer, and judicial powers cannot be exercised either directly or by delegation through such an aide.

“To make matters worse, another letter emerged dated 2nd September, 2025. That one

was not even signed by the so-called Special Assistant. It was signed by an unknown, unnamed individual, on behalf of the Special Assistant. The letter purported to assign a case to a judge, something that can never lawfully be done by anyone other than a judicial officer.

“Even more suspicious is that the letter was delivered to the Osun State counsel on the 11th of September, 2025, more than a week after it was purportedly signed. We have every reason to suspect that that letter may have been backdated to achieve political ends. This suspicion is strong because when the case came up on September 8, 2025 in Abuja, neither the court nor the party to which it was addressed spoke about the letter.

This is bizarre, unprecedented, and unacceptable.

“The law is very clear. The power to transfer a matter from one judge of the Federal High Court to another is provided for under the Federal High

Court Act. Such transfer can only be sought through a formal application, in open court, before the presiding judge handling the matter. It cannot be done through secret letters or shadowy signatures.

“In the 21st August letter, the office of the Chief Judge even suggested that the case would become ‘nugatory’ if not heard during vacation. But that is a question of fact and law that must be determined in open court with all parties heard. For an administrative letter to prejudge the issue shows bias and prejudice, and compromises the independence of the judiciary,” Osun PDP added.

According to the party, the abuse of power becomes even clearer when a September 2 letter was addressed directly to Chief Akin Olujinmi (SAN) counsel to the 3rd Defendant (the Attorney-General of the Federation) at a time when that defendant had already been withdrawn from the Continued on page 33

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FRIDAY, SEPTEMBER 19, 2025 • THISDAY

NEWS

SILVER JUBILEE EMPOWERMENT PROJECT OF COMMITTEE OF WIVES OF LAGOS STATE OFFICIALS...

L-R: Head, Collections and Agency Banking, Parallex Bank Limited, Mr. John Nwachukwu; Chief Digital Officer, Parallex Bank, Mr. Frank Alarapon; Wife of Lagos State Governor and Chairman, Committee of Wives of Lagos State Officials (COWLSO), Dr. Ibijoke Sanwo-Olu; Wife of Lagos State Deputy Governor and Vice Chairman, COWLSO, Mrs. Oluremi Hamzat; and Coordinator, COWLSO, Mrs. Nkem Shofela, during the Silver Jubilee Empowerment Project of Committee of Wives of Lagos State Officials, Lagos…recently

FG Ends Passport Production at Multiple Centres After 62 Years The Nigeria Immigration Service has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.

Minister of Interior, Dr. Olubunmi Tunji-Ojo, said this

on Thursday while inspecting Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja.

He stated that since the establishment of NIS in 1963, Nigeria had never operated a

central passport production centre, until now, marking a major reform milestone.

“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.

He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.

“With this, NIS can now meet daily demands within

tion are crucial for keeping this promise to Nigerians,” the minister said.

He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.

Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.

He said the centralised students and community voices around a common production system aligned purpose to ensure that lo- with President Bola Tinubu’s cal action drives sustainable reform agenda, boosting NIS growth and that evidence capacity and changing the translates into meaningful narrative for better service delivery. and lasting change.

just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.

“We promised two-week delivery, and we’re now pushing for one week.

“Automation and optimisa-

Research Key to Driving Innovations in Health Sector, Says Pate As experts meet at NISA summit

Onyebuchi Ezigbo in Abuja

Minister of Health and Social Welfare Prof. Ali Mohammad Pate has said that research is what will drive the various innovative reforms being carried in the country’s health sector.

The minister who spoke at the conference organised by the Nigeria Implementation Science Alliance (NISA) in Abuja said research is crucial to addressing Nigeria’s healthcare challenges.

“It is always necessary for us to interrogate what we are doing, using scientific method and to learn what is working and what is not working.

“Research is key to generating new ideas in knowledge and for driving innovation and transformation. Clearly this initiative aligns with what the federal government is pushing for in its health sector renewal agenda,” he said.

On his part, the Board Chairman of the Nigeria

Implementation Science Alliance (NISA), Echezona Ezeanolue, said the organization is pushing for a strong partnership between government and private institutions In addition, Ezeanolue said there is need for effective collaboration between Federal Ministries of Education and Health to ensure proper training of health professionals.

He said the importance of research is to help provide results that will guide policy making.

Consumer Protection Infractions: Kenya Airways Pays Fine, Says NCAA

Kasim Sumaina in Abuja

After a number of meetings, including a visit to the NCAA by the Kenyan High Commissioner to Nigeria and officials from the airline and JKIA, Kenya Airways, Thursday paid the sanction fee as penalty for the Gloria Omisore and other consumer protection-related infractions.

A statement issued by the Director, Public Affairs/ Consumer Protection, NCAA, Michael Achimugu, noted that as always, NCAA sanctions are not to punish operators, but to help improve their flight operations, especially with regards to safety and passenger handling

protocols.

Recall that the NCAA through Achimugu had written to the airline in February notifying the airline that, “Dear @KenyaAirways, if Ms. Gloria Ibukun Omisore is not airlifted safely to her final destination within a couple of hours, there will be ramifications. There are limits that must not be crossed and, in 2025, you will treat Nigerian passengers better.”

While the exact figure paid was not stated, the NCAA, however said: “Kenya Airways has a long-standing relationship with Nigeria and we look forward to improvements in their Nigeria operations.”

The sanctions, he explained do not diminish the positive aspects of the airline’s operations, stating: “This was a case-specific penalty.

“While commending the airline for complying with the determination of the NCAA, we must remind that the timeframe for the resolution of the cases for which this sanction was announced has since elapsed.

Therefore, the payment of sanction fines does not conclude the issues.

“The NCAA will follow through and is assuring both passengers and airlines of its commitment to protecting their rights and responsibilities.”

In his address at the conference, the Chairman Uchenna Igbokwe said the event was an avenue to bring together government leaders, researchers, policy for implementers, funders,

Education: Only Collective Obligation Can Serve as Catalyst for Educational Devt, Says Varsity Don Yinka Kolawole in Osogbo

Erudite educationalist, Prof. Muibat Olabisi Bello, has made it clear that only collective obligation can serve as catalyst for overall development of education in the country.

Professor Bello who stated this yesterday at a lecture delivered at the 50th Anniversary of Ansar-Ud-Deen High School, Ejigbo, Osun State, also harped on the fact that individuals should know that development does not lie solely in the hands of the government or school authorities, saying it is a shared task.

The university don who spoke on the theme “Alumni and Development of Alma Matter: A collective Responsibility” posited that Alumni holds a unique and powerful position and know that their involvement

whether through mentorship, financial support, or moral encouragement can transform lives and preserve desired legacies.

She however spelt out several of the roles of Alumni in the development of Alma matter which include enhancement of knowledge through education support, empowering individual and society, being an ambassador of truth by proper representation and guardians of the legacy.

She contended that others include intellectual and leadership contributions, networking and outreach while development of Alma matter can be attained through endorsement, support, voluntary charity, volunteering and expertise, advocacy and public relations and as well as supplication.

She therefore advised that Alumni can be established

with a dedicated Trust Fund, mentorship programs to assist students and retired teachers for the development of education in the country.

In his own message at the anniversary, the president of the Ansar-Ud- Deen High School Ejigbo (AUDOSA), Abdulmajeed Opatokun, said the fifty years in the life of an institution was not a small feat.

He posited it was a testimony of resilience, progress, unity, and the sustaining power of vision.

Opatokun however remarked that as the Alumni marked 50th Anniversary, they must renew their commitment to sustaining the vision and mission of the founding fathers and that their dreams were not mere ambitions, but were rooted in a deep desire to raise generations of leaders, thinkers, and nations builders.

FRIDAY, SEPTEMBER 19, 2025 • T H I S D AY

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AIR TANZANIA The Chairman, Board, Management, and Staff of Skyway Aviation Handling Company PLC offer our heartfelt congratulations on your successful inaugural flight to Lagos, Nigeria.

SAHCO PLC is delighted to serve as your ground handling partner and we look forward to many successful years together.

Safe, Speedy & Efficient

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www.sahcoplc.com

Skyway Aviation Handling Company Plc

12

FRIDAY, SEPTEMBER 19, 2025 • THISDAY

NEWS

PRESS BRIEFING OVER THE FIRE INCIDENT AT AFRILAND TOWERS...

L-R: Director, Lagos State Ambulance Service (LASAMBUS), Mrs. Wuaola Makinde; Director General/CEO, Lagos Safety Commission, Mr. Lanre Mojola; Commissioner for Information and Strategy, Mr. Gbenga Omotoso; Special Adviser to the Governor on Media and Publicity, Mr. Gboyega Akosile; and Director, Fire and Rescue Service, Mrs. Margaret Adeseye, during a press briefing over the fire incident at Afriland Towers on Broad Street, Lagos Island, held at the Bagauda Kaltho Press Centre, the Secretariat, Alausa, Ikeja, yesterday

Tributes Pour in for Victims of Afriland Fire, Tinubu, Atiku, Sanwo-Olu, Obi Mourn

Lagos: People died of carbon monoxide inhalation, not fire Says it can only account for 7 casualties, not 10 fatalities NLC demands probe, enforcement of workplace safety standards United Capital mourns demise of 6 employees No UBA employee affected in inferno Deji Elumoye, Emmanuel Addeh, Onyebuchi Ezigbo in Abuja and Segun James, Nume Ekeghe in Lagos Tributes yesterday continued to pour in for victims of the tragic Afriland Towers fire in Lagos, which claimed 10 lives, with President Bola Tinubu, former Vice President Atiku Abubakar, Lagos State Governor, Babajide Sanwo-Olu, and ex-presidential candidate, Peter Obi, expressing grief and solidarity with families of the deceased.

Also, fresh facts have emerged relating to the incident, as the Lagos State Government yesterday said the inhalation of carbon monoxide from smoke was responsible for the death of most victims, rather than actual fire.

The Afriland Towers fire broke out on Tuesday, September 16, 2025, around 1:30 p.m. in the sixstorey commercial building on Broad Street, Lagos Island. The

blaze was traced to the power inverter room in the basement, from where thick smoke quickly spread through several floors and even into emergency exits, making evacuation difficult.

In a message, President Bola Tinubu, commiserated with the families of victims, the Federal Inland Revenue Service (FIRS), the United Capital, and the United Bank of Africa (UBA) Plc over the fire outbreak.

The President, in a statement issued by his Adviser on Information and Strategy, Bayo Onanuga, extended his condolences to the management and staff of Afriland Properties Limited, the FIRS, the United Capital, particularly those who lost loved ones in the inferno, and the injured who are currently receiving medical attention.

He commended the emergency responders, including the Federal Fire Service (FFS), first aiders, medical personnel, and

members of the public, for their quick intervention and noted their deep sense of responsibility during the evacuation.

The President advised more caution, training, and alertness to avert such emergencies in the future. He prayed that God Almighty will receive the souls of the departed and grant quick

The Warri South West Political Alliance (WSWPA) has appealed to Ijaws, Itsekiri and Urhobos to shun any form of tribal provocation that will reenact the ugly incident that led to destruction of lives and properties in the past.

The group, in a statement titled, “We say no to Violence?” and signed by its spokesman, Prince Meshach Bebenimibo, also urged the Delta State Governor, Rt. Hon Sheriff Oborewvori to take urgent steps in dousing the raging tension in Warri.

“We, the Warri South West Political Alliance appeal to all and sundry in Warri South, Warri South-West and Warri North Local Government Areas to shun any form of tribal provocation.

“We are one large family of Ethnic Nationalities. God, the creator of the whole world knows the reason why He made us to come from same Local Government Areas and locations”, Prince Bebenimibo stated.

He noted that the people cannot afford to witness another

of all those who may have lost a dear one in Tuesday’s fire incident at the Afriland Tower in the Lagos Island area of Lagos State.

“I also sympathise with the traders injured and who lost goods and properties from the second fire that gutted Mandilas market and adjoining plazas.

I wish the injured receiving treatment at various hospitals speedy recovery. My deepest condolences to the management and staff of the Federal Inland Revenue Service (FIRS), United Capital, and the United Bank of Africa (UBA) Plc,” Atiku wrote Continued on page 34

EnoVows to End Electricity Supply Crisis in A’Ibom Okon Bassey in Uyo

in the state’s power sector by asking the right questions and Akwa Ibom State Governor, getting the right answers.

Umo Eno, has said that the Eno said the summit must electricity summit organised in move beyond being another the state was a major turning talk shop to producing a pracpoint in the state’s quest for tical roadmap with timelines, energy security and unlimited clear responsibilities, and access to power. measurable outcomes.

Declaring open the Akwa “For decades, our people Ibom Electricity Summit 2025, have lived with the paradox the governor said the time of great energy potentials but has come to take a critical little to show for it. Electricity decision to make things work is not a luxury; it is a fundamental enabler of modern life.

This summit should deliver a concrete action plan that ensures every home, every business, and every school

Ijaw, Itsekiri Crisis: Group Sues for Peace, Seeks Oborevwori’s Urgent Intervention Sylvester Idowu in Warri

recovery to the injured.

For his part, ex-VP, Atiku, sympathised with the victims of the Afriland fire as well as traders injured and who lost goods and properties from the second fire that gutted Mandilas Market and adjoining plazas.

“My thoughts and prayers are with the families and friends

Warri crisis stating “Peace is paramount, let us give peace a chance and let us leave as one entity.

“In war, lives and properties will be lost. Government infrastructures will be affected; companies will be displaced and also our communities will be deserted. There is no joy in war”, he added.

Bebenimibo cautioned some activists, allegedly promoting ethnic hatred in the social media to desist henceforth but instead profess peace and love on their platforms

in Akwa Ibom has reliable power,” he said.

Eno stated the importance of collaboration between the state and the federal government, recalling the recent MoU signed with the Rural Electrification Agency (REA) to expand access in underserved communities.

He said the Akwa Ibom state’s electricity reforms would be anchored on transparency, professionalism, and partnerships with the private sector, development partners, and local communities.

“Our vision is ambitious but achievable. We will not

politicize electricity. We will build a State electricity market that stands the test of time and serves our people.”

Earlier, the Deputy Governor of the state and Chairperson of the Summit Organising Committee, Senator Akon Eyakenyi, had described the gathering as a historic moment, not only for Akwa Ibom State but for Nigeria as a whole.

She noted that with the passage of the Electricity Act 2023 and the State’s own Electricity Law 2025, Akwa Ibom had the foundation to chart its own electricity market.

LCCI Urges Government to Address Drivers of Inflation

Dike Onwuamaeze The Lagos Chamber of Commerce and Industry (LCCI) has welcomed the recent moderation in Nigeria’s Consumer Price Index (CPI) and advised the government to remain vigilant in addressing the key drivers of inflationary pressure.

The Director General of LCCI, Dr. Chinyere Almona, gave this advice yesterday following the

National Bureau of Statistics (NBS) report that inflation eased for the fifth consecutive month to 20.12 per cent in August 2025.

Almona said: “While this is a welcome development, the current inflation level remains uncomfortably high. It is, therefore, imperative that government and economic managers remain vigilant in addressing the key drivers of inflationary pressure.”

She said that more deliberate efforts are required to strengthen Nigeria’s food production ecosystem to meet the demands of our growing population, resolve persistent supply chain disruptions in the oil and gas sector, stabilise foreign exchange earnings from exports, and sustain ongoing economic reforms to secure durable outcomes.

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FRIDAY, SEPTEMBER 19, 202517,• T H I S•DTAY WEDNESDAY SEPTEMBER 2025 H I S D AY

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FRIDAY, SEPTEMBER 19, 2025 • T H I S D AY

14

FEDERAL REPUBLIC OF NIGERIA

RIVERS STATE GOVERNMENT

PORT HARCOURT WATER CORPORATION SPECIFIC PROCUREMENT NOTICE (SPN) INVITATION FOR BIDS (IFB) – Small Works (One-Envelope Bidding Process) IFB Number:

4. Interested eligible Bidders may obtain further IFB No: PHWSSP/AfDB/NCB/ information from Chief Ibibia O; Walter with email WKS/2025/003 address: watsanworks.phwssp@gmail.com and inspect Employer: Port Harcourt Water the Bidding document during office hours (9:00 A.M. - 5 Corporation, Port Harcourt, P.M.) on weekdays only at the address given below.

Rivers State Project: Urban Water Sector Reform 5. The Bidding document in English may be purchased and Port-Harcourt Water by eligible Bidders upon payment of a nonrefundable Supply and Sanitation Project fee of N750,000 or its equivalent (US$500.00). The Contract title: Procurement of Contractor method of payment will be in Manager’s Cheque or for the Rehabilitation of Bank Draft, made out in favor of PORT-HARCOURT Storm Water Drainage at WATER CORPORATION. The document will be sent by Rumuola Waterworks courier only on demand.

Country: NIGERIA Loan No. /Grant No.: 2000130011585 6. Bids must be delivered to the address below on Procurement Method: Open Competitive Bidding or before Friday October 17, 2025 at 10:30 AM. (National) Electronic Bidding will not be permitted. Late Bids will LCBN No: PHWSSP/AfDB/NCB/ be rejected. Bids will be publicly opened in the presence WKS/2025/003 of the Bidders designated representatives and anyone Issued on: September 19, 2025 who chooses to attend at the address below on Friday October 17, 2025 at 11:00 AM. 1. The Federal Republic of Nigeria has received Financing from the African Development Bank towards the cost of Urban Water Sector Reform and Port Harcourt Water 7. All Bids must be accompanied by Bid Security of: Supply and Sanitation Project. It is intended that part Lot Description Bid Security Duration No. (Months) of the proceeds of this loan will be applied to eligible 1 Procurement of Contractor for the ₦92,000,000.00 3 payments under the contract for the Procurement of Rehabilitation of Storm Water Drainage Or $61,000.00 Contractor for the Rehabilitation of Storm Water at Rumuola Waterworks Drainage at Rumuola Waterworks 8. Attention is drawn to the Procurement Framework requiring the Borrower to disclose information on the 2. The Port Harcourt Water Corporation now invites sealed successful bidder’s beneficial ownership, as part of the bids from eligible bidders for the execution of the Contract Award Notice, using the Beneficial Ownership Procurement of Contractor for the Rehabilitation of Disclosure Form as included in the bidding document.

Storm Water Drainage at Rumuola Waterworks 3. Bidding will be conducted through the Open Competitive 9. The address referred to above is: The Managing Director Bidding (National), NCB procedures as specified in the Port-Harcourt Water Corporation, Bank’s Procurement Framework [African Development 6 Water Works Road, Bank, Standard Bidding Document Small Works (OnePort Harcourt, Rivers State, Nigeria.

Envelope Bidding Process) August 2021] and is open to E-mail: watsanworks.phwssp@gmail.com all Bidders as defined in the Procurement Framework.

FRIDAY, SEPTEMBER 19, 2025 • T H I S D AY

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FEDERAL INLAND REVENUE SERVICE 20 SOKODE CRESCENT ZONE 5 WUSE, PMB 33, GARKI ABUJA, NIGERIA

PUBLIC NOTICE WITHHOLDING OF TAX FROM INTEREST ON INVESTMENT IN SHORT-TERM SECURITIES This Notice is issued for the information, guidance and compliance of Banks, Discount Houses, Stockbrokers, Corporate Bond Issuers, Primary Dealer Market Makers (PDMMs), other financial institutions, government agencies, tax practitioners, and the general public.

1.

Sections 78(1) and 81(1) of the Companies Income Tax Act (CITA), (as amended), and the Deduction of Tax at Source (Withholding) Regulations, 2024 provide that tax be deducted from interests payable to any person (including non-corporate entities) on the date of payment.

2.

Accordingly, tax shall be deducted from all interest payments on investments in short-term securities on the date of payment at the applicable rate.

3.

The tax shall be deducted and remitted to the relevant tax authority not later than the 21st day of the month following the month in which the payment occurred.

4.

The person from whose payment the tax was deducted is entitled to a tax credit equal to the amount withheld and remitted except where the tax deducted is the final tax.

5.

Interest on bonds issued by the Federal Government is exempt from tax deduction.

6.

Interest on OMO Bills issued by the Central Bank of Nigeria is not liable to tax deduction.

7.

Short-term securities include (but not limited to) government bonds, treasury bills, promissory notes, corporate bonds, financial papers, bills of exchange, etc.

All relevant interest-payers are required to comply with this Circular in order to avoid the imposition of penalties and interest as stipulated in the tax law.

Further enquiries on the above subject should be addressed to the: The Executive Chairman Federal Inland Revenue Service 20, Sokode Crescent Wuse Zone 5, Abuja Signed:

Zacch Adedeji, PhD Executive Chairman

This public notice supersedes the one published on 18th September 2025

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T H I S D AY • FRIday SEPTEMBER 19, 2025

Politics

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com 08033025611 sms only

Akpabio-led 10th Assembly Racing against Time The National Assembly is due to resume plenary on Tuesday, September 23, 2025 after its two-month annual recess. Ola Awoniyi, in this report, examines some of the key issues awaiting the attention of the 10th Assembly in its second half of its four-year tenure.

T

he tenth National Assembly, led by Distinguished Senator Godswill Obot Akpabio, is now in the second half of its four-year tenure. From next year, electioneering ahead of the 2027 polls will take centre stage in national politics. Therefore, history beckons on the 10th Assembly to accomplish the remaining items on its Legislative Agenda before the heads of members fully turn to politicking. There is no doubt that much has been done. But more remains in the in-tray.

The first two years produced landmark legislation but were also characterised by politics and drama typical of a Parliament.

In the mid of all of these, Akpabio, the President of the Senate and Chairman of the 10th National Assembly, proved his mettle and is poised to continue offering strong leadership.

The Assembly began its annual recess in July and is scheduled to reconvene for the routine plenary session on 23rd September, 2025.

The expectation is that by that date, the Medium Term Expenditure Framework (MTEF) 2026 - 2028 would have arrived from the Executive arm of government so that the lawmakers can process the document in earnest. A late presentation of the MTEF to the National Assembly will invariably delay the presentation of the 2026 Appropriation Bill.

This is because the MTEF is designed to guide the preparation of the National budget. So the Executive must forward the MTEF document to the Assembly on time to prevent a repeat of last year’s experience in which the 2025 Appropriation Bill could not be passed by December, resulting in the disruption of the January - December budget cycle.

Besides the Appropriation Bill, the Assembly faces the onerous task of reforming the Electoral system to pave the way for less contentious future polls.

Apparently there are many things to amend in the current Electoral Act ahead of the 2027 General Election. For instance, the Ninth Assembly, in the last reforms carried out, inadvertently created “super delegates” for political party primaries. At the national level, presidential aides, ministers and even the lawmakers, who are not elected delegates, lost their voting right at the primaries. Similarly, at the state level, governors’ aides, commissioners and lawmakers who are not elected delegates are disenfranchised at the party primaries.

The reforms bill had already received the assent of former President Muhammadu Buhari before this fundamental error was spotted. A rushed amendment to the document was ignored by the President. The burden of rectifying the error has now become that of the 10th Assembly.

Opinions are divided on a proposal to conduct all polls in the general elections in one day. There is also a debate on whether or not to make electronic transmission of results mandatory. Added to these are the advocacy for an early voting for security men on election duty, diaspora voting and the debate on the need to conclude election disputes before the winners are sworn in.

These and many more are pending before the 10th Assembly as it resumes from its recess.

However, the current Electoral Reforms must be accomplished well ahead of the 2027 polls.

The Assembly is also deeply engaged in the review of the 1999 Constitution. This has been on the top of its agenda, and the process has already reached an advanced stage in the collation of views and inputs from the six geopolitical zones of the country.

The Constitution Review Panels of the Senate and the House Representatives have received many suggestions and recommendations from those engagements.

The current constitution review is expected to address critical issues such as the restructuring of the Federation, particularly devolution of power to the states; State Police, which almost all the states have subscribed to as a way to

address insecurity; aligning the provisions for Local Government Autonomy with the ruling of the Supreme Court, statutory responsibilities for Traditional Institutions, and other recommendations.

The conversation around gender inclusivity

particularly in governance is a big issue for women. Despite intense advocacy, all five gender-related bills failed in the Constitution amendment process in the 9th Assembly. More painful for gender advocates was the lawmakers’ refusal to legislate for more women’s repre-

sentation in parliaments, despite the public drama in which the campaigners brought mats to occupy the National Assembly main entrance gate for days.

However, Akpabio has assured women of a positive development in that regard in the 10th Assembly. Speaking at an event to mark International Women’s Day in March, 2025, he said discussions were being held in the Parliament for emulation of democracies that reserve seats for women in Parliament, even if by appointment.

Akpabio also underscored the seriousness of the 10th Assembly with regards to the issue of gender inclusion when he led Nigeria’s delegation, including Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, to the Inter-Parliamentary Union meeting in Geneva in August. “We told them that legislations are in the making such as the gender equality issue.

We may not achieve gender equality but we said gender inclusion. We want to have more women in the Parliament. So we are trying to look at ways and means of achieving that, to ensure that next time we come to the Senate for instance, we will not have only three or four women in the Senate. We should have more women in the Senate. That means we are tinkering with parts of the Constitution to see where we can include more women in the Parliament without necessarily touching the current constituencies that have been created by the Constitution,” Akpabio said on his return to Nigeria.

The 10th Assembly apparently has limited time to address the aforementioned issues before electioneering for the 2027 polls takes centre stage. However, the Akpabio-led Assembly has undoubted political will to accomplish the tasks. And where there is a will, there is always a way.

-Awoniyi, Media Aide to Senate President, writes from Abuja.

Kawu: A Heroic Homecoming for a Man of the People

Adegboyega Ajadi writes about the recent heroic welcome accorded Suleiman Agaka Kawu by his people in Ilorin, the Kwara State capital and the Federal Capital Territory after retiring from the service of the Rural Electrification Agency.

I

lorin, the Kwara State capital was thrown into rare jubilation last week. Not because of a political rally, nor because a sitting governor inaugurated a project, but because a man of destiny returned home after a meritorious career in the public service.

The outpouring of love for Suleiman Bolakale Agaka Kawu was spontaneous, overwhelming, and instructive. It was a message from the people to the political class: we know who has stood with us, and we know those who only remember us when elections draw near.

From Abuja to Ilorin, the narrative was the same. Stakeholders across party lines, community leaders, islamic scholars, friends, associates, and ordinary people celebrated a man whose works have silently reshaped lives and whose character has earned him uncommon respect.

In both cities, the events were not sponsored jamborees. They were not financed with state resources. They were genuine tributes by those who have seen, touched, and felt the impact of Kawu.

At the Abuja event organised by the Ilorin community, two voices stood out in their testimonies, his boss and his subordinate.

Abba Abubakar Aliyu, his former Managing Director at the Rural Electrification Agency, confessed he had yet to come to terms with the reality of Kawu’s retirement. With emotion in his voice, he declared: “No problem within the Agency that Engr. Kawu was unable to resolve.

He performed every assignment with utmost dedication and commitment, even spending

his own resources to achieve targets. This is unprecedented in the history of the Agency.” That is not the usual flattery of a superior; it was the acknowledgment of a colleague who had seen him go above and beyond for the institution.

On her part, Ojua Omodara, who worked directly under him, gave a subordinate’s perspective: “Engr. Kawu is a goal-getter. He gives assignments and follows through until results are achieved.”

Between these two voices, superior and subordinate, lies a portrait of leadership: diligent, selfless, and result-driven.

If Abuja offered professional testimony, Ilorin presented a moral verdict. From the airport to the heart of the city, unprecedented crowd lined the

streets. People came in unimagined numbers, not lured by patronage, but drawn by affection.

They came with their hearts, with their voices, and with their prayers.

Chief Imam of Ilorin led other Islamic scholars in offering supplications for his continued success, affirming what the people already knew, that his record is not only professional but spiritual, not only official but human. The prayers were thanksgiving for a man who had already touched lives in ways politics rarely does.

Here lies the prosecution: one after another, communities testified in ways more compelling than any campaign manifesto could promise.

Villages spoke of how they were lit up, not by political promises, but by transformers facilitated through Kawu’s intervention. Students recalled scholarships that kept them in school when hopelessness beckoned. Families gave witness to medical support received at critical times when their loved ones would otherwise have been abandoned to fate. Villages pointed to mosques standing tall in their midst, built through his generosity. Imams bore testimony that for the past 15 to 20 years, they had been receiving salaries from him, a quiet, consistent support that kept religious institutions alive.

-Adegboyega writes from Gaa Akanbi in Ilorin, the Kwara State capital.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

17

T H I S D AY • FRIDAY, SEPTEMBER 19, 2025

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

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

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

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 16 September 2025, 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 579.22 582.34 45.71% Afrinvest Plutus Fund 377.20 377.20 3.68% Nigeria International Debt Fund 100.00 100.00 17.58% Afrinvest Dollar Fund 113.08 113.08 4.48% 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 20.62% AIICO Balanced Fund 7.48 7.57 30.93% AIICO Eurobond Fund 100.00 100.00 7.33% Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 20.48% Anchoria Equity Fund 1.64 1.64 25.25% Anchoria Fixed Income Fund 390.49 396.01 51.29% 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 47.71info@anchoriaam.com 49.15 34.56% ARM Discovery Balanced Fund 981.24 1,010.83 23.44% ARM Ethical Fund 94.33 97.17 37.57% ARM Eurobond Fund 1.20 1.20 11.60% ARM Fixed Income Fund 1.33 1.33 23.15% ARM Money Market Fund 1.17 1.17 18.53% ARM Shariah Fixed Income Fund 1.10 1.10 12.27% ARM Short Term Bond Fund 1.04 1.04 5.13% ARM Short Term Eurobond Fund 1.00 1.00 20.76% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn 114.50 114.5 14.50% AVA GAM Fixed Income Dollar Fund 1,228.27 1228.27 20.96% AVA GAM Fixed Income (Naira) Fund 1.00 1.00 19.00% AVA GAM Money Market Fund AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn 0.00 0.00 0.00% AXA Mansard Equity Income Fund 0.00 0.00 0.00% AXA Mansard Money Market Fund CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn 2.72 2.72 14.62% CEAT Fixed Income Fund 5.90 6.04 41.08% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn 1.05 1.05 15.43% CardinalStone Fixed Income Alpha Fund 1.12 1.12 10.44% CardinalStone Equity Fund 1.58 1.60 34.53% CardinalStone Dollar Fund 1.12 1.13 12.66% CardinalStone Money Market Fund 1.00 1.00 20.15% CardinalStone Balanced Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapel Hill Denham Money Market Fund 0.00 0.00 0.00 Nigeria Bond Fund 0.00 0.00 0.00 Paramount Equity Fund 0.00 0.00 0.00 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 0.00% 114.76 114.76 12.80% Cordros Fixed Income Fund 121.20 121.20 10.79% Cordros Halal Fixed Income Fund Cordros Dollar Fund ($) 116.65 116.65 7.17% Cordros Milestone Fund 228.52 230.14 24.08% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 20.99% Coronation Balanced Fund 1.99 2.01 20.55% Coronation Fixed Income Fund 1.48 1.48 7.96% 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 0.00 0.00 0.00 EDC Nigeria Balanced Fund 0.00 0.00 0.00 EDC Nigeria Halal Fund 0.00 0.00 0.00 EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 0.00 0.00 0.00 Emerging Africa Bond Fund 0.00 0.00 0.00 Emerging Africa Balanced Diversity Fund 0.00 0.00 0.00 Emerging Africa Eurobond Fund 0.00 0.00 0.00 Emerging Africa Halal Fund 0.00 0.00 0.00 FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Money Market Fund 100 100 19.93% FBN Bond Fund 1738.2 1738.2 11.64% FBN Dollar Fund 133.47 133.47 7.48% FBN Halal Fund 159.59 159.59 13.87% FBN Specialized Dollar Fund 125.96 125.96 7.97% FBN Blended Dollar Fund 450.71 455.05 39.06% FBN Balanced Fund 496.17 503.08 53.23% FBN Smart Beta Equity Fund 106.93 106.93 6.93% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund (LMMF) 1.00 1.00 0.00% Legacy Debt Fund (LDF) 1.44 1.44 5.05% Legacy Equity Fund (LEF) 3.90 3.90 10.75% Legacy USD Bond Fund (LUBF) 5.15 5.26 38.03% FCMB-TLG Private Debt Fund 0.00 0.00 0.00% FSL ASSET MANAGEMENT LIMITED Adeniran.Daniel@fsl.ng Web: https://www.fsl.ng/asset-management ; Tel: +2348062727759 Fund Name Bid Price Offer Price Yield / T-Rtn FSL Money Market Fund 0.00 0.00 0.00 FSL Euro Bond 0.00 0.00 0.00 FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral income fund 0.00 0.00 0.00 Coral money market fund 0.00 0.00 0.00 FSDH HALAL FUND 0.00 0.00 0.00 FSDH dollar fund 0.00 0.00 0.00 Coral Balanced Fund 0.00 0.00 0.00

HILLCREST CAPITAL MANAGEMENT dabbey@hillcrestcapmgt.com Web: https://hillcrestcapmgt.com/; Tel: +2348075144540, 0214540094 Fund Name Bid Price Offer Price Yield / T-Rtn Hillcrest Balanced Fund 0.00 0.00 0.00 LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn LOTUS HALAL FIXED INCOME FUND 1,287.82 1,287.82 0.11 LOTUS HALAL INVESTMENT FUND 2.86 2.91 0.26 LOTUS HALAL EQUITY EXCHANGE TRADED FUND 51.43 56.85 0.68 LOTUS WAQF ENDOWMENT FUND 1,193.85 1,193.85 0.08 MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 0.00 0.00 0.00 Meristem Value ETF 0.00 0.00 0.00 Meristem Growth ETF 0.00 0.00 0.00 Meristem Fixed Income Fund 0.00 0.00 0.00 Meristem Dollar Income Fund 0.00 0.00 0.00 Meristem Money Market Mutual Fund 0.00 0.00 0.00 MANGO ASSET MANAGEMENT jetadafe@mangoam.com Web:https://mangoam.com/; Tel: +234 7030839517 Fund Name Bid Price Offer Price Yield / T-Rtn Mango Naira Money Market Fund 1.00 1.00 20.34% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED

enquiries@norrenberger.com

Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Money Market Fund (NMMF) 100.01 100.01 20.06% Norrenberger Islamic Fund (NIF) 107.23 107.23 15.22% NORRENBERGER DOLLAR FUND (NDF)-----($) 105.20 105.20 9.44% NORRENBERGER TURBO FUND (NTF)-----(N) 104.37 104.37 14.32% 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 0.00 0.00 0.00 PACAM Fixed Income Fund 0.00 0.00 0.00 PACAM Money Market Fund 0.00 0.00 0.00 PACAM Equity Fund 0.00 0.00 0.00 PACAM EuroBond Fund 0.00 0.00 0.00 SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn The Frontier Fund 247.14 259.26 49.3% 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 1.11 1.11 19.03% SFS REIT 150.45 150.45 8.21% UH REIT/SFS 59.77 59.77 12.90% 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 Money Market Fund Stanbic IBTC Bond Fund Stanbic IBTC Dollar Fund (USD) Stanbic IBTC Shariah Fixed Income Fund Stanbic IBTC Enhanced Short-Term Fixed Income Fund Stanbic IBTC Absolute Fund UPDC REIT Stanbic IBTC Balanced Fund Stanbic IBTC ETF 30 Fund Stanbic IBTC Ethical Fund Stanbic IBTC Guaranteed Investment Fund Stanbic IBTC Imaan Fund Stanbic IBTC Nigerian Equity Fund SIAML Pension ETF 40 Stanbic IBTC Aggressive Fund Stanbic IBTC Conservative Fund

STL ASSET MANAGEMENT LIMITED Web: WWW.STLASSETMGT.COM; Tel: 8136115170 Fund Name STL MONEY MARKET FUND STL BALANCED FUND STL DOLLAR FUND

UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name United Capital Money Market Fund United Capital Sukuk Fund United Capital Fixed Income Fund United Capital Nigerian Eurobond Fund United Capital Global Fixed Income Fund United Capital Stable Income Fund United Capital Equity Fund United Capital Balanced Fund United Capital Wealth for Women Fund United Capital Children Investment 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 Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Zenith Balanced Strategy Fund Zenith Income Fund Zenith Income Fund Zenith Money Market Fund ZEDCREST INVESTMENT MANAGER LIMITED Web: www.zedcrestwealth.com; Tel: +2348075881240 Fund Name Zedcrest Money Market Fund Zedcrest Fixed Inocme Fund Zedcrest Dollar Fund REITS Fund Name SFS REIT UPDC REIT

10.00 259.03 1.60 135.27 139.68 5,168.20 11.59 9,132.38 405.00 4.37 384.27 847.90 40,323.82 586.00

10.00 259.03 1.60 135.79 143.18 5,170.86 11.59 9,219.63 405.00 4.43 384.95 858.88 40,901.64 586.00

19.01% 0.13% 1.32% 0.84% 1.32% 0.02% 1.66% 43.19% -1.22% -97.82% 8.63% 70.19% 59.16% -27.65%

12,031.29 8,819.07

12,199.78 50.31% 8,855.90 29.75% jemenike@stlassetmgt.com

Bid Price 100.00 1,378.52 105.12

Offer Price Yield / T-Rtn 100.00 21.26% 1,398.82 38.87% 105.12 5.12% unitedcapitalplcgroup.com

Bid Price 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Offer Price Yield / T-Rtn 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 funds@vetiva.com

Bid Price Offer Price Yield / T-Rtn 15.22 15.32 37.61% 32.79 32.89 103.49% 51.00 51.20 32.98% 1.00 1.00 19.73% 49.16 49.36 12.31% 147.83 149.83 -0.93% service@quantumzenithasset.com.ng Bid Price Offer Price Yield / T-Rtn 32.82 33.21 54.33% 40.00 40.39 50.26% 29.59 29.59 6.06% 1.00 1.00 19.30% investmentoperations@zedcrest.com Bid Price 1.00 1.34 $ 1.40

Offer Price 1.00 1.34 $ 1.40

NAV Per Share

Yield / T-Rtn 21.24% 34.11% 17.98% Yield / T-Rtn

0.00

0.00%

8,855.90

29.75%

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.

18

T H I S D AY • friday, SEPTEMBER 19, 2025

business/MOnEYGUIDE

FENAC Partners South Africa’s NICE Automation to Boost Smart Living in Nigeria

Sunday Ehigiator

FENAC Secure Solutions, a leading provider of home automation systems in West Africa, has signed a strategic partnership with South Africa’s NICE Automation Systems to drive the adoption of smart living and security technologies in Nigeria.

The collaboration is expected to scale up the deployment of intelligent gate and door automation technologies in residential and commercial properties, offering improved safety, convenience, and energy efficiency.

Speaking on the development, a representative of NICE

Automation Systems, JaQues Van Niekerk, described the partnership as a pivotal step in expanding smart infrastructure in the region.

“The collaboration between NICE and FENAC Secure Solutions has already laid the groundwork for innovation across West Africa,” Van Niekerk said. “Now, we’re looking to deepen our impact in Nigeria by leveraging FENAC’s local expertise and customer reach.”

He explained that NICE products are tailored for the African environment, with features that address infrastructural realities such as erratic power supply.

“Our gate motors can

run even without batteries, which is a major advantage in areas with frequent power outages,” he said, adding that NICE is currently the only manufacturer using lithium batteries in gate motors.Lithium batteries are more durable, require less maintenance, and provide a longer service life; ultimately reducing costs for users.”

Also speaking, Managing Director and Chief Executive Officer of FENAC Secure Solutions, Chuka Okafor, said the partnership will accelerate the adoption of technology-driven solutions that support both residential and commercial development in urban and suburban communities.

AIICO Insurance Launches Environmental Protection Project Ebere Nwoji AIICO Insurance Plc said it was committed to environmental preservation through its environmental protection project tagged “Recycling at AIICO Project”.

The company said this is an initiative designed to reduce non-biodegradable waste, promote responsible consumption, and create a workplace culture that actively supports sustainability.

Launched in the fourth quarter of 2024, AIICO

said the project reflected its belief that corporate success extends beyond profits, encompassing the duty to safeguard the planet for future generations.

The underwriting firm in a statement said the project aligned with the United Nations Sustainable Development Goals (SDGs)’s responsible consumption and production) and climate action of reinforcing AIICO’s mission to contribute to a cleaner, safer, and more sustainable environment.

Speaking on the program,, Corporate Responsibility and Sustainability Manager at AIICO Insurance Plc., Mrs. Abimbola Shobanjo said the Recycling at AIICO project demonstrates that growth and sustainability could go hand in hand.

“We are intentional about reducing our environmental footprint and showing that business success is not defined by profit alone, but by the positive legacy we leave behind for future generations.”

Rex Insurance Kicks Off Retail Street Insurance Campaign As part of efforts to ensure insurance penetration to the grass root, Rex Insurance, recently hit the streets of Yaba and the environs in Lagos with its flagship Retail Street Storm product.

The move was a bold grassroots initiative of the underwriting firm aimed at demystifying insurance and promoting policy adoption among everyday Nigerians.

According to the company, the Retail Street Storm is a strategic initiative designed to raise awareness about

insurance, promote policy adoption and strengthen the presence of Rex Insurance within the community.

According to the Managing Director/CEO of Rex Insurance, Mrs. Ebelechukwu B. Nwachukwu, the Retail Street Storm is an initiative aimed at simplifying insurance with the objective of making it more accessible to everyday Nigerians.

“Insurance is not just for big businesses or the elite, it is for everyone”, said Nwachukwu.

She added that through Retail Street Storm is part of our mission to take insurance to the streets. We are meeting people where they are; in the markets, on the roads, and in their communities to show them that insurance is simple, affordable, and essential.

Our retail business is a core part of what we do, and through this initiative, we are showing our commitment to reaching everyday Nigerians and making insurance accessible to all”.

Rotary International District 9111 Inaugurates Learning Committee Rotary International District 9111 has inaugurated its Learning Committee for 2026- 2027 Rotary year.

The District Governorelect Rotary International District 9111, Rtn Bukola Bakare at the occasion stated that, “ our journey for Rotary year 2026-2027 started today with the inauguration of District 9111 Learning Committee”.

She disclosed that, “The enormous responsibility of the year has started today.

The District 9111 Learning

Facilitators are: Past District Governor, Rotarian Bola Oyebade; the Adviser, Past District Governor, Rotarian Kennedy Ejakpomehwe; Executive District Secretary 2026- 2027, Assistant Governor, Felix Nwagu; and Deputy District Learning Facilitator (DDLF) 1, Past Assistant Governor Antonia Omotayo Taiwo” Other Facilitators include District 9111 deputy Facilitator (DDLF 2), past Assistant Governor Abiodun Oshinibosi; District

Treasurer 2026- 2027, past Assistant Governor Lukman Akande; District Team Learning Seminar Coordinator, past Assistant Governor Samson Okenyi; President Elect Learning Seminar Coordinator, Assistant Governor Jellily Efedi; Club Leadership Learning Seminar Coordinator, past Assistant Governor Gbenga Sunmonu and Deputy District Treasurer, Rotarian Rose Makinwa.”

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) NOVEMBER

Month

Money Supply (M3)

108,966,480.44

-- CBN Bills Held by Money Holding Sectors

19,796.18

Money Supply (M2)

108,946,684.26

Quasi Money

72,672,756.90

-- Narrow Money (M1)

36,273,927.36

---- Currency Outside Banks

4,652,527.74

---- Demand Deposits

31,621,399.62

Net Foreign Assets (NFA)

17,347,112.78

Net Domestic Assets(NDA)

91,619,367.66

-- Net Domestic Credit (NDC)

115,576,757.67

---- Credit to Government (Net)

39,616,629.91

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

75,960,127.77

--Other Assets Net

12,147,461.96

Reserve Money (Base Money)

30,871,571.25

--Currency in Circulation

4,878,125.22

--Banks Reserves

25,993,446.02

--Special Intervention Reserves

278,860.37 • Source - CBN

Money Market Indicators (in Percentage) Month

November

Inter-Bank Call Rate

28.88

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

27.50

Treasury Bill Rate

18.00

Savings Deposit Rate

6.56

1 Month Deposit Rate

8.48

3 Months Deposit Rate

9.53

6 Months Deposit Rate

12.13

12 Months Deposit Rate

14.22

Prime Lending rate

18.39

Maximum Lending Rate

31.06

NSE

NSE MARKET INDEX % Change

CAP

0.75%(52%YoY)

Index

0.9% (29%Y/D) • Monetary Policy Rate - 27.50%

OPEC DAILY BASKET PRICE As At 6TH JANUARY , 2025

The price of OPEC basket of twelve crudes stood at $76.18 a barrel on Monday, compared with $75.89 the previous Friday, according to OPEC Secretariat calculations.

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

19

T H I S D AY • friday, SEPTEMBER 19, 2025

mARKET NEWS

Shareholders of Red Star Express Approve 35 kobo Dividend Kayode Tokede

The shareholders of Red Star Express Plc, yesterday approved the company’s N0.35 dividend payout, among other resolutions at its 32nd Annual General Meeting (AGM) held virtually.

The management of the

firm had recommended to shareholders dividend payout of N0.35 kobo for 2025 financial year as against N0.27 kobo paid in 2024, amounting to a total amount of N334.05 million (2024: N257.69 million).

Red Star Express in 2025 financial year had declared profit before tax of N924.72 million, about 71 per cent

P R I C E S MaiN Board

F O R DEALS

increase over N542.15 million in 2024. In the year under review, the company declared N546.5million profit after tax, representing an increase of 59 per cent from N343 million in 2024 financial year.

The N21.66 billion revenue generation in 2025, up by 34 per cent from N16.13billiion in 2024, played a critical

S E C U R I T I E S Market Price

quantity traded

role in profit generation and robust dividend payout to shareholders of the company.

Speaking to shareholders at the AGM, the Chairman, Red Star Express, Mr. Suleiman Barau, said the 34 per cent increase in revenue was driven by growth across its express delivery, haulage and freight, and support services, as well

T R A D E D

value traded ( N )

A S O F

MaiN Board

as continued operational discipline.

Barau noted that the growth in profit reflects improved cost management,business development efforts, and increased customer confidence in its capabilities.

On future outlook, he said, the management remains focused on leveraging

technology to strengthen transparency and accountability, optimize delivery speed and improve the customer experience.

“Our ongoing investments in digital platforms, regional network expansion, and new delivery models are all designed to support long-term growth.

S E P T E M B E R / 1 8 / 2 5 DEALS

Market Price

quantity traded

value traded ( N)

T H I S D AY FRIDAY SEPTEMBER 19, 2025 20 TR

UT H

& RE A S O

Friday September 19, 2025 Vol 27. No 11129

N

opinion@thisdaylive.com

www.thisdaylive.com

LET THE POOR BREATHE!

UMO ENO, Governor of Akwa Ibom, gives practical business tips to all

See page 21

LISA LESSONS FOR PHILANTHROPY Damilola Feyide, a young lady, is making lots of difference in children’s lives, writes JOSHUA J. OMOJUWA

See page 21

EDITORIAL

PENSIONERS AND ‘NAKED PROTESTS’

See page 22

1

Rivers State governor must focus on fulfilling his mandate, writes BOLAJI ADEBIYI

FUBARA GOES BACK TO WORK Siminalayi Fubara, the oil-rich Rivers State governor, resumed work on Thursday after a six-month suspension from office imposed by President Bola Tinubu. Also back at work are his deputy, Ngozi Odu, as well as members of the House Assembly.

Lifting their suspension in a lengthy statement on Wednesday in Abuja, the president urged them to work together in the interests of their people.

The president’s call for peace and harmony is notable. The declaration of emergency rule in the state was costly for all the belligerent parties and stakeholders. Seen to have acted outside the 1999 Constitution as amended, the president was criticised by a host of human rights activists and opposition politicians, who argued that he exceeded his emergency powers by suspending the governor, his deputy, and the members of the House of Assembly. His justification that he acted to prevent the imminent breakdown of law and order in the state did not persuade his critics. He obviously does not wish to go through that barrage of attacks again.

None of the belligerents attained their goals from the conflict. Fubara’s godfather, Nyesom Wike, who is also the Minister of the Federal Capital Territory, and the House of Assembly members sought his removal. The declaration of emergency rule prevented this from happening.

Fubara’s aim to overshadow Wike also failed. Reflecting on their fruitless attempt to undermine each other, they must have wondered if the six-month suspension they received was justified.

For the people of Rivers State, it was a total loss as Ibok-Ete Ibas, the retired Navy Vice Admiral appointed as sole administrator by Tinubu, was virtually absent despite the N1.5 trillion budget approval by the National Assembly. Of course, governance at the lower level was in abeyance due to the Supreme Court judgment on local government autonomy, which prohibits funds from being transferred to councils without elected officials.

So, despite Tinubu’s appeal, all stakeholders must have recognised the futility of the conflict and agreed to work towards peace to enjoy the benefits of representative governance.

Fubara, who was elected to deliver the dividends of democracy to the people, must realise that he has

the responsibility to do everything necessary to accomplish his mandate.

He, therefore, needs to step back and make a realistic assessment of his capacity to sustain any power struggle.

Although it is tempting to resist an unfair or biased peace settlement, he must recognise that the events leading up to the declaration of emergency rule and the past six months clearly show the challenges he faces. If his goal is to serve, he needs to exercise great wisdom and go out of his way to navigate the complex political intrigues before him. After all, the privilege of office can only be used to benefit the people while in power, not afterwards.

However, the other power contenders should not exaggerate their capacity for mischief or their political influence at the centre, since the emergency rule could not be said to have exclusively benefited them. While everyone was asked to go home, a whopping N1.5 trillion was made available for spending. How much of this were they able to access? Yet, one of the privileges of power in a democracy is the ability to distribute patronage. While the disruption they caused subsisted, local council elections were held. How many of those elected came from their flank?

Meanwhile, the details of the peace settlement should be made public to promote transparency and uphold the people's right to know. Currently, what is available in the public domain is speculative and can cause confusion or spread misinformation, which could lead to further resentment. For instance, it is speculated that Fubara has committed to serving his full term only and does not intend to run for a second term. It is also said that he is obliged to recall all the commissioners who resigned during the crisis.

Conditions like these may be perceived as a dictated and humiliating peace settlement unless their context is explained to his supporters, who may eventually pressure the reconciliation process. This will likely create a fragile peace that could collapse soon. So, transparency is necessary for the durable peace that the people desire.

More importantly, it is crucial to align the peace settlement with the provisions of the 1999 Constitution as amended, to ensure its legitimacy. This approach makes it more acceptable to a wider range of people, who might otherwise oppose and obstruct it. For example, one ongoing issue is the legality of suspending the democratically elected institutions under the emergency powers of the president. As the president noted in his statement on the suspension of the emergency rule, the matter has become the subject of lawsuits in various courts. One of these was filed by the Peoples Democratic Party governors at the Supreme Court.

Although some senior lawyers have argued that the expiration of the emergency rule has rendered the suits merely academic, not a few believe that a judicial pronouncement is necessary to guide future occurrences. At the very least, it will clarify the position of the law and protect the polity from the rule of the strongman.

In the meantime, the political gladiators in the oil-rich River State should learn valuable lessons from the last six months of emergency rule, and moving forward, prioritise the interests of the people.

Adebiyi, a fellow of the Nigerian Guild of Editors, writes from Abuja.

T H I S D AY

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FRIDAY SEPTEMBER 19, 2025

UMO ENO, Governor of Akwa Ibom, gives practical business tips to all

Damilola Feyide, a young lady, is making lots of difference in children’s lives, writes JOSHUA J. OMOJUWA

LET THE POOR BREATHE! LISA LESSONS FOR PHILANTHROPY My presence here today underscores the importance we place in this Entrepreneurial Leadership Development training.

I came here today as one of you, someone who started a small hotel business in 1996 with five rooms in Eket and by the time I joined the public service, we had expanded and owned many hotel apartments, moved into Uyo, owned properties in Abuja, worked with International Oil Companies, IOCs and became the second largest employer of labour in this State, next only to the State Government.

I could have sent somebody to read a speech and inaugurate your training but I came here personally today to say that you can start small but grow big. I came here to say that, the only thing you start from the top down is digging the grave. Every other thing starts from down and grows up. It's not about the amount of money that is placed in your hands. It is about the zeal, the conviction, the passion and the discipline that will multiply what is given to you.

The other day I listened to a young man who was literally sleeping in his house when I woke him up to place something very wonderful in his hands. He was given an appointment.

Today I look back thanking God that that happened and he was sitting down in one bar and badmouthing me and saying, how can he think that he can give people just N500,000 to go and do business.

What kind of business would he do with such money?

I laughed. Why will he not say so? Because he was woken up from his sleep to be given an appointment. I bought him a car that he didn't work for and so in that same car, he drives to a place and sits down to drink and feels that life is stress free, a bed of roses.

But when you read Dangote’s biography, his uncle, the late Dantata, gave him a loan of only N500,000. And Dangote today, is the richest man in Africa with a networth of $23.9 billion.

So it's not the amount of money you get, it is the passion you have for what you're doing. For over 20 years, those of you who live around Eket will know that my business, my house, and my church are all in one location till this day. I go to church in the morning, do my morning prayers in the same spot, go to work in the same place, get back home in the night in the same spot. I shunned everything, paid my attention to my business, and grew the business. Anything you don't have passion for, no matter how much money one puts in there, will not make sense. Everything begins with you.

And when we were growing that business in Eket, we didn't have any help from the government, not even a local government support. The only help we got, I must confess, was patronages from several people. And then later, the government came and supported us. They patronized us. What I mean is that, they got value for the money they paid us. Did that help us?

Yes. But we didn't have to beg the government for money. They came at a time when Obong Victor Attah, the then Gov-

ernor, was to host the global Conference of Mayors in this State. There was no hotel that could rival Royalty Group at that time. And so, the government had to move from Uyo to Eket and made use of that hotel. For one week, we were working 24/7 for a global audience. I worked.

And up to the last day that I left the Royalty Group for public service, I worked. I go to work in the morning, stay at work, serve, enter the kitchen, understand what's going on.

And I took a special interest in my business.

I came here personally at the onset of your entrepreneurial training just to see whether I can inspire you.

I am talking to you without looking at this speech before me because this is a true story. This is a testimony…Modesty will forgive me, I had my own house in the US running my own business. Almost all my children were trained in United States before I came into government. Friends, no one will make it in business without his or her personal efforts.

All of you sitting in this hall and the previous batches that have gone before you, are blessed to have a State, where today you cannot only be trained, but have a seed money handed to you. It is a blessing. It has not always been like this. And so, I encourage you today not to take this for granted. Not to see it as an entitlement, but to see it as an act of God that has made grace available to you.

And not to abuse that grace.

I believe N500,000 can change the course of your life for good, if only you are diligent about it. And that's why we bring you to this development center to be taught how to use money, what to do with the money. A knife in the hand of a doctor will heal, but a knife in the hand of a madman will kill. So, when you are handed money, it depends on who you are and what you do with the money.

Today, in our State, we are very proud in the last two years to say that we have judiciously used the money available to us as a government. I'm proud to say that in the last two years we have not gone to the bank to borrow money, not because borrowing is not good, but because there has been no need for it.

Eno, PhD, is the Governor of Akwa Ibom State. He made this speech extemporaneously, during the recent Business Concept Note Workshop & Opening Ceremony For Participants Of The Forth Batch Of Entrepreneurship Accelerator Programme, in Uyo.

Damilola Feyide returned to Nigeria to observe the National Youth Service Corps (NYSC) year. Her intention at the time was to return abroad immediately after her service. About half a decade on, she is still serving the country, except she is doing so at a larger and more layered scale. During her service year, Dammy spent her spare time running creative classes for indigent and troubled children.

These were children who had spent their time in correctional and remand homes and were either without a home to go to or a family that had the capacity to cater, even if they cared. Dammy’s intention was to sow a seed of her time and intellect in the lives of these children, after which she’d go her way.

That seed became the Let It Shine Academy, known as LISA, a private school where children who once lived in remand homes, and those from poor backgrounds, now access quality education at no cost.

Tuition, boarding, uniforms, and daily care are all free. Dammy realised the challenges were overwhelming and she couldn’t possibly abandon ship. LISA is now a fulltime boarding school with an extraordinary curriculum offering the best education at no cost to its students.

There are lessons for those building for change to learn from what Dammy has done and continues to do with LISA School.

You must start with a clear thesis about the problem. LISA is not just another school; it is a purpose intended to nurture once troubled children from indigent homes. It focused on a precise gap, the education and healing of children who carry trauma and poverty into the classroom. If your thesis is sharp, next steps become easier, teacher recruitment, curriculum design, and other offerings.

You must build for durability, not virality. Hero stories create attention, but institutions create change. Dammy’s story is inspiring, yet the deeper story is governance. A school that offers free education must keep the lights on, feed children, train teachers, and pass inspections. That requires budgets, audits, and a board that can challenge the founder with love. Nigerian philanthropy often dies from founder exhaustion. A living board and a simple multi-year plan reduce that risk.

Measure. Children who have survived the street or confinement need more than test scores. LISA doesn’t just track literacy and numeracy growth, but it also measures attendance stability, psychosocial progress, and family reintegration.

Design for partnership. LISA does not need to own every solution. Government owns standards, so it aligns with UBEC and state policy. Universities own talent, so set up teaching internships and research placements. Media firms own attention, so co-produce human stories that protect dignity. Tech firms own tools, so deploy low-cost learning software that works offline. LISA developed a special THEO tablet for this purpose. Partnerships turn

a single school into a learning network.

LISA has deployed some of these in its execution.

Safety. Children who arrive from difficult backgrounds need trauma informed classrooms. Policies must be written, training must be repeated, and every adult must understand duty of care. Background checks matter.

Whistleblowing channels matter. Data protection matters, especially for children whose identities deserve privacy. A school can be free and still be safe, and because it is free, it must be safer than most.

Honor teachers. Development projects often celebrate donors and forget the people who carry the mission each day.

Build a teacher pipeline with mentoring, mental health support, and professional growth paths. Celebrate excellence publicly. Dammy is big on celebrating her teachers.

Design exit ramps for students.

Education is a road, not a room. It is a means toward building literacy and character for the world of work. Graduates need bridges to the next phase, vocational programs, apprenticeships, scholarships to partner schools, and alumni circles that keep the social fabric strong. If the first job is dignity, the second job is opportunity.

An academy that opens doors will produce citizens who return as mentors and donors.

Communicate with humility and rigor.

Donors are wise to hype. Share impact without exaggeration. Say what worked, say what failed, and say what you will try next. I haven’t met a more open proprietor like Dammy. She carries you along all the way.

What can the wider philanthropic community learn from LISA? One, small is not a weakness when the unit is well designed. Replication beats unchecked expansion. Two, proximity increases wisdom. Leaders who live among the community design better. Three, pride is a resource. Nigerian generosity is large but scattered. A simple habit of monthly giving, even modest sums, can build a national engine for social change.

Omojuwa is chief strategist, Alpha Reach/BGX Publishing

22 4

T H I S D AY

EDITORIAL

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

T

FRIDAY SEPTEMBER 19 2025

PENSIONERS AND ‘NAKED PROTESTS’

Significant delays in payments may push many pensioners to staging a ‘naked protest’

he National Chairman of the coalition of Federal Pensioners of Nigeria, Mukaila Ogunbote, has threatened the government to settle all arrears, increments and palliatives by end of September failing which they would stage a ‘naked’ nationwide demonstration. We hope the authorities will work to avert such a drama of shame.

In October 2023, President Tinubu approved N35,000 for workers and N25,000 for pensioners as palliatives, and an additional increase of N13,000 in pensions. But while workers received their payments within one month of the approval, pensioners are still waiting for the peanuts two years later. Former Chairman of the Lagos branch of the Nigeria Union of Pensioners stressed that providing food has become problematic, adding, “We are hungry. Food is medicine, yet without it, medicine is meaningless.

Pensioners are starving.”

Government has often failed to prioritise the payment of pensioners' entitlements, leaving many in poverty. In many of the 36 states, pensioners are being owed their retirement benefits, including severance pay, gratuity and pensions, even when amounts provided are too low to sustain a dignified life, particularly given the high rate of inflation. Stories abound of senior citizens who had collapsed and died on queues while waiting for their pensions. Perhaps, the plight of pensioners in Nigeria is better highlighted in a documentary titled ‘Nation Forgotten,’ where former public servants bemoaned pension fraud, and government neglect while battling debilitating changes to their health and lack of funds to attend to their most basic needs.

It was in a bid to address the non-payment of pensions that the Pension Reforms Act of 2004 was enacted. The act covers both public and private sector employees. The Contributory Pension Scheme (CPS) was introduced to replace the Defined Benefit Scheme (DBS). Under the new regime, both the government/companies and

the workers themselves are to save up a given amount of their earnings towards building up an accumulated funds reserve which they could fall back on after retirement. More than two decades after the CPS was launched, many of the states across the country are still abdicating their responsibilities under the scheme.

While it is noteworthy that PENCOM has helped to grow the funds as well as a more prudent management, there are issues that are yet to be resolved by the government regarding many retired civil servants. For instance, complications in meeting up with the pension obligations had arisen fundamentally by the failure to link those in the old scheme (DBS) with those in the new scheme (CPS). But even after it seems to have been resolved, the federal and many state governments have failed in remitting deducted sums from workers’ salaries to the Pension Fund Administrators (PFAs).

The result is that neither government contributions nor workers’ deducted sums are credited to their accounts with the PFAs. This malaise is even more prevalent in the private sector where many companies do not remit their counterpart deductions to the PFAs as required by the Pension Act. While many obstacles have stood in the way of pensioners to access their retirement benefits, the PFAs have been the ultimate beneficiaries of the growing pension assets, currently in excess of N24 trillion. Those who own the money cannot continue to live in penury while intermediaries feed fat on their sweat. It is therefore time for PenCom to make the pension scheme truly beneficial to the greatest number of pensioners by whipping errant employers into line.

We urge the federal and state governments to keep faith with their obligations to pensioners. We also call on PenCom to apply stricter measures in enforcing compliance with the provisions of the Pension Reforms Act by the PFAs. Besides, additional benefits in form of increased payments tied to salary increments and gratuities should also be paid promptly.

Pensioners are being owed their retirement benefits, including severance pay, gratuity and pensions, even when amounts provided are too low to sustain a dignified life T H I S D AY

EDITOR SHAKA MOMODU DEPUTY EDITOR WALE OLALEYE MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

T H I S D AY N E W S PA P E R S L I M I T E D

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

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LETTERS RIVERS STATE AFTER EMERGENCY RULE

After six months of political uncertainty and governance disruption, President Bola Ahmed Tinubu has officially lifted the state of emergency he imposed on Rivers State. The proclamation, which had suspended the powers of Governor Siminalayi Fubara, his deputy, and members of the Rivers State House of Assembly, sparked heated debates nationwide. Critics from different quarters questioned both the legality and constitutionality of the president’s decision, arguing that it amounted to an unlawful suspension of democratically elected officials.

Despite the storm of criticisms, the president stood firm in his resolve, justifying the drastic measure as a necessary step to restore order in the state at the time. But now that the emergency has been lifted and the officials restored, Rivers people and Nigerians at large are left with several questions demanding urgent answers.

First, will the Supreme Court now hear and determine the case filed by the Peoples Democratic Party (PDP) governors, challenging the legality of the state of emergency?

That matter is pivotal, as it will provide a judicial pronouncement on whether a president truly possesses the constitutional powers to suspend or remove a democratically elected governor and state legislators. The outcome will set a precedent that may shape Nigeria’s democratic process for years to come.

Second, now that Governor Fubara, his deputy, and the House of Assembly members have been reinstated, will they continue their hostile standoff, or have they learned vital lessons from this crisis? The people of Rivers State, who elected them into office, are yearning for unity, peace, and progress, not perpetual political bickering.

Third, will external forces that allegedly fueled the cri-

sis continue to interfere in the affairs of the state? Or will political actors in Rivers take responsibility for their mandate and focus on good governance, free from undue influence?

The truth remains that no meaningful development can thrive in an atmosphere of violence, division, and chaos.

The political gladiators in Rivers State must therefore put aside personal ambitions and work together in the interest of the citizens.

Now that the state of emergency has been lifted, the people of Rivers deserve a new dawn, one of peace, prosperity, and sustainable development. The time for power tussles is over; the time for service has come.

Tochukwu Jimo Obi, jimobi83@gmail.com

23

T H I S D AY • FRIday, September 19, 2025

BUSINESSWORLD R A T E S

MONEY MARKET

A S

A T

REPO

Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com

08056356325, 07034471123

S e p te m b er

S & P INDEX

1 8 , 2 0 2 5

S & P INDEX

EXCHANGE RATE

OPR

25.34%

CALL

23.25%

INDEX LEVEL

595.26

1/4 to daTE

0.24%

N1,526,27/ 1 US DOLLAR*

OVERNIGHT

25.18%

1-MONTH

21.37%

1-DAY

0.10%

YEAR TO DATE

-10.99%

*AS AT THUR, September 18, 2025

3-MONTH

22.41%

MONTH-TO-DATE

0.24%

Small Businesses Struggle to Survive Despite Declining Headline Inflation

Arthur Eriye Despite the claims that Nigeria’s headline inflation rate decreased for the fifth month in a row, Small businesses are struggling to survive with many of them decrying the country’s economic situation.

Small and Medium Enterprises (SMEs), which represent 96 per cent of businesses and are crucial for job creation, are still

grappling with high input costs, weak consumer demand, and diminishing profit margins.

Experts believe that unless the government addresses structural issues such as insecurity, inadequate infrastructure, logistical inefficiencies, and unreliable power supply, the disparity between statistical improvements and the reality of daily survival will endure.

Currently, while

inflation may appear to be decreasing on paper, for businesses and families throughout Nigeria, the struggle for survival remains a formidable challenge.

For instance, the leader of the Association of Small Business Owners of Nigeria (ASBO) stated that although decreasing inflation appears beneficial in theory, it has minimal impact on daily living conditions.

He called on the government to provide support to businesses and households through social safety nets, improved access to food, and transportation assistance, cautioning that the MSME sector, which employs over 80 percent of the workforce, is at risk of collapse.

In a similar vein, the Director-General of the Nigerian Association of Small and Medium

Enterprises stated that the inflation statistics do not accurately represent the market realities. “One could take N50,000 to the market and spend it all without acquiring everything,” he expressed with concern, highlighting that businesses are reducing their purchases of raw materials and investments as a result of low demand,” he said.

The Lagos Chamber of Commerce and Industry emphasised that a decrease

in inflation does not equate to a decrease in prices. Its president clarified, “Prices will only decrease when there is a substantial increase in supply.”

Additionally, leaders of small-scale industrialists noted that once prices increase, they seldom decrease, as producers tend to maintain their profit margins unless compelled to reduce them by competition.

The story continues online on www.thisdaylive.com

Sanusi: Shortfall in Aircraft, Passenger Growth Will Continue to Keep Fares High Chinedu Eze

Nigeria will continue to experience high cost of flight ticket for a long time due to inadequate supply of aircraft, coupled with increasing growth of air travellers, the Managing Director and CEO of Aero Contractors, Captain Ado Sanusi has said.

In an exclusive interview with THISDAY, Sanusi said shrinking fleet among Nigerian operators was a reflection of paucity of aircraft globally, especially

small body aircraft for short haul flights.

Sanusi said the International Air Transport Association (IATA) has projected high passenger growth in Africa, but aircraft manufacturers such as Boeing and Airbus have confirmed a shortfall of aircraft requirement, a development experts said will impact on airfares.

Experts have also opined that high exchange rate, inadequate aircraft supply and inflation will continue to drive up the

fares, warning that this will eventually lead to reduction of people who travel by air because they cannot afford it.

“For me, I believe in organic growth of the market. And IATA said that there will be growth throughout Africa. Nigeria is part of that growth. The growth IATA is talking about is the passenger growth. They are not talking about growth of aircraft. Now, Boeing and Airbus have already said there is a shortfall

of aircraft requirement, especially single aisle aircraft, which are Boeing B737 and the A320s. Even the leasing company have said yes, they agree there is a shortage of those aircraft globally.

So now, if you break it down to Nigeria or to West Africa or to even Africa, you have a growth of passengers. So, there is demand, we want to fly, Nigerians want to fly.

“And then you have a shrinking aircraft size where the single aisle, the

Boeing 737 and the A320 families are going down by the manufacturers and also the lessors. The people that lease the aircraft out.

Then what it means is that there will be one: increase in price fares. Two: there will be fares competition.

And three: the market will be so volatile,” he said.

Sanusi explained that airlines would be jostling to acquire aircraft by leasing or outright purchase.

Currently airworthy aircraft owned by Nigerian airlines hovers around 70

but operators are making efforts to acquire more.

Recently, United Nigeria Airlines announced that it was in the process of acquiring six Boeing 737800 aircraft from Southwest Airlines while Air Peace said its Embraer E195-E2 and Embraer E170 new aircraft would be delivered soon. Other airlines are also making efforts to acquire more, including Aero Contractors, Overland Airways and Ibom Air. The story continues online on www.thisdaylive.com

M a r k e t d ata A s at T h u r s d ay, S e p t e m b e r 1 8 , 2 0 2 5

BONDS

Description Price Yield Change Updated Time (%) ^16.2884 17September 98.79 17.22 -0.36 18, 2025 MAR-2027 September ^19.94 200.00 18, 103.72 17.05 2025 MAR-2027 ^13.98 23September 94.18 16.97 -0.19 FEB-2028 18, 2025 ^21.00 20September 108.03 16.95 -0.21 MAR-2028 18, 2025 ^14.55 26September 106.86 16.67 -0.09 18, APR-2029 2025

BILLS Maturity NTB 9-Oct25 NTB 6-Nov25 NTB 4-Dec25 NTB 8-Jan26 NTB 5-Feb26

Discount Yield

Change (%) Updated Time

16.63

16.84

September -0.01 18, 2025

16.83

17.28

September 0.00 18, 2025

17.03

17.72

September -0.01 18, 2025

17.39

18.44

September 0.13 18, 2025

18.79

September -0.01 18, 2025

17.47

CLEARED NAIRA-SETTLED NDFS

CPs Maturity SALC CP II 3-OCT-25 LFZC CP X 16-SEP-25 SIBP CP I 11DEC-25 CILE CP V 11-DEC-25 EULL CP IX 18-JAN-26

Discount Yield 21.10

21.37

21.05

21.11

19.39

20.37

22.95

24.34

20.20

21.74

Change (%)

Updated Time

September 0.00 18, 2025 September 0.00 18, 2025 September 0.00 18, 2025 September -0.01 18, 2025 September 0.05 18, 2025

Contract Current Tenor Contract Rate ($/₦) (Month) NGUS SEP 13M – 30 2026 NGUS OCT 14M – 28 2026 NGUS NOV 15M – 25 2026 NGUS DEC 16M – 30 2026 NGUS JAN 17M – 27 2027

Updated Time

September 18, 2025 September 18, 2025 September 18, 2025 September 18, 2025 September 18, 2025

24

FRIday, September 19, 2025 • T H I S D AY

BUSINESSWORLD

Air watch

Aero Contractors Showcases MRO Capabilities at Aviation Summit Stories by Chinedu Eze Aero Contractors, Nigeria’s oldest aviation company, made a strong statement at the just-concluded Aviation Africa Summit and Exhibition in Kigali, Rwanda, by showcasing its upgraded and expanding Maintenance, Repair and Overhaul (MRO) capabilities.

The summit, which drew industry leaders, airlines, regulators, and Original Equipment Manufacturers (OEMs) from across the

continent, provided a platform for Aero to demonstrate how its MRO division is positioning itself as a trusted partner for airlines seeking efficient, reliable, and Africa-based maintenance solutions.

Head, Approved Maintenance Organisation (AMO) Division at Aero Contractors, James Ominyi, said the exhibition generated strong interest from both regional and international operators.

“Our improved capabilities and ongoing upgrades are attracting

significant attention from airlines looking to reduce costs and turnaround times by carrying out their heavy maintenance checks within Africa,” Ominyi said.

The Aero Contractors delegation was led by senior management, including the Chief Financial Officer, Mr. Charles Grant; Head AMO, James Ominyi; Technical Director, Emmanuel Adeyeye; GM Rotary Wing, GarbaMouktar; and MRO Business Development Manager, Mr. Adeyemi Adewojo.

A i r Watch

Excessive Taxes on International Routs

‘Nigeria’s Aviation Insurers Settles Claims Faster than Foreign Counterparts’ The National Insurance Commission (NAICOM) has said it is committed to protecting aviation stakeholders and ensuring that Nigeria’s aviation insurance framework aligns with global best practices.

Speaking at the 21st Akwaaba African Travel Market in Lagos, themes: ‘The Emerging Synergy Between Aviation and

Insurance’, Commissioner for Insurance, Mr. Olusegun Omosehin, represented by the Deputy Commissioner, Technical, Mr. Ahmed Jankara, stressed that the commission’s role, which according to him, is not to shield operators but to safeguard policyholders and the wider aviation industry.

Omosehin explained

that misconceptions about high insurance premiums in the aviation sector often stem from a poor understanding of how aviation risks are priced.

He noted that premiums are determined in consultation with international markets, reflecting the risk profile of the sector rather than arbitrary charges.

Lagos Aviation Academy Wins Travellers Award 2025

Lagos Aviation Academy (LAA) has been honoured with the ‘Aviation School of the Year’ award at the Travellers Award 2024/2025, organised by African Travel Quarterly (ATQ News) in conjunction with the 21st Akwaaba African Travel Market.

The recognition celebrates the Academy’s dedication to excellence in aviation training, its role in nurturing the next generation of aviation professionals, and its significant contribution to

Group Business Editor Eromosele Abiodun Deputy Business Editor Chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Energy Emmanuel Addeh Asst. Editor, Money Market Nume Ekeghe Correspondents KayodeTokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance) Reporter Peter Uzoho (Energy)

Nigeria’s growing aviation ecosystem.

Speaking on the recognition, Head of School, Lagos Aviation Academy, Mr. BolajiDurojaiye, said: “Beyond academic excellence, we are intentional about equipping our students with the skills and confidence to thrive in the aviation sector. This achievement belongs not only to the Academy but

to every graduate who continues to make us proud in Nigeria and beyond.”

The Academy’s impact goes beyond classrooms; its graduates are making tangible contributions to the Nigerian economy through improved service delivery, operational efficiency, and professional excellence across airlines, travel companies, and other aviation-related businesses.

‘Adopt Workable Mortgage System to Address Housing Challenges’ The Chief Executive Officer of Archpoint Architecture and Construction Company, Mr. Olatunji Dare, has called on the Nigerian government to adopt a workable mortgage system to address the nation’s housing challenges.

Dare gave the advice during the celebration of his birthday, which was marked with a special in-house lecture dedicated to promoting affordable housing solutions for low-income and indigent citizens.

According to him, Nigeria is not particularly under-housed, but affordability remains the greatest barrier to home

ownership. He stressed that if a functional mortgage system were adopted and implemented effectively, the nation’s housing deficit would be significantly reduced.

Speaking on behalf of the company’s management, Archpoint’s Financial Director, Chris Ozichukwu Anele-Eche, praised Dare’s leadership and lifelong commitment to excellence.

“Today, we also celebrate the birthday of our Chief Executive Officer, Dare a leader whose journey reflects grace, resilience, and an unyielding commitment to service.”

Chinedu Eze As a country where air travellers pay the highest taxes in Africa and one of the highest in the world, according to the International Air Transport Association (IATA), Nigeria is yet to give passengers who travel to international destinations, the necessary respite.

With average of four million travellers on international routes since 2021, Nigerian travellers pay $480 million annually comprising Passenger Service Charge (PSC) of $100 and security tax of 20 per passenger every year.

The Federal Airports Authority of Nigeria (FAAN) generates about $400 million from PSC alone, while the Nigeria Civil Aviation Authority (NCAA) generates $80 million annually. The Nigeria Airspace Management Agency (NAMA) also collects en-route charges built into the tickets.

After the security incident involving Umar Farouk Abdulmutallab, popularly referred to as the “Underwear Bomber” or “Christmas Bomber”, the federal government introduced $20 security charge, which was supposed to be used to develop security infrastructure at the airports.

The payment was programmed to last for five years, but since it was introduced in 2010, the collection has continued 15 years after. Industry insiders say that in the last 15 years, there is no discernible infrastructure procured or installed with the money because every security equipment at the airport was procured by FAAN and, “Nigeria is even catching up in providing critical security equipment compared to other countries despite special fees paid by passengers for security.”

The Nigerian Civil Aviation Authority has announced the introduction of a new APIS Charge of $11.50, which will take effect from December 1. An APIS charge refers to a fee levied for accessing or using an Application Programming Interface (API). The circular that announced the charge did not make it clear if NCAA will discontinue the security tax of $20 or the passengers will pay this and also the $11.50 from December this year. It only explained that the fee, which will be collected at the point of ticket sale,

will be remitted by airlines to the NCAA for the provision of Advance Passenger Information Services and it is expected to remain in effect for 20 years.

Also flexing its muscles and rearing to go is the Nigeria Airspace Management Agency, which has said that the N11, 000 it charges for navigational charges to airlines is no longer sustainable in the light of “current economic realities.”

Many industry insiders disagree with this increase, saying that Nigeria is a huge market because a country with about 250 million people, the annual passenger traffic on international routes has hovered around 4 million.

In 2021, Nigeria recorded 14, 249, 542, air travel according to records from the Nigeria Civil Aviation Authority. This was made up of 12, 050, 264 domestic passenger movement and 2, 199, 278 international passenger movement.

In 2022, Nigeria recorded about 16. 2 million in both domestic and international travel with over 12 million on domestic travel, while about four million travelled on international destinations.

But Nigeria recorded a total number of 15, 895, 265 passengers in 2023, which was less than 16, 172, 433 passengers that passed through the airports in 2022 and there are indications that the number of passengers who travelled by air in 2024 would be less than the previous year, going by the first, second and third quarters results released by NCAA. When compared to other developing countries that have the population near or above that of Nigeria it becomes obvious that Nigeria is not recording passenger growth in air travel both for local and international destinations.

In 2023, Brazil recorded 112.6 million passengers on domestic and international flights, marking a 15.3 percent increase from 2022’s 97.6 million passengers, as reported by Minister of Ports and Airports Silvio Costa Filho.

In Indonesia, from January to August 2023, the number of domestic air transport passengers was 41.6 million, increasing by 22.46 percent. The number of international air transport passengers was 9.9 million and increased by 212.55 percent compared to the same period in 2022.

The story continues online on www.thisdaylive.com

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FRIday, September 19, 2025 • T H I S D AY

BUSINESSWORLD

PERSPECTIVE

Building Tomorrow’s Capital Markets Today Oluseyi Owoturo

alignment between company performance and market valuation.

A

frica stands at a pivotal moment in its economic evolution.

Across the continent, capital markets are awakening to unprecedented opportunities, yet they remain constrained by infrastructure challenges that have persisted for decades.

The question isn’t whether Africa’s capital markets will modernise—it’s how quickly we can build the digital backbone that will power this transformation.

At Coronation Registrars, we’ve witnessed firsthand both the immense potential and the systemic barriers that characterise Africa’s investment landscape.

For too long, shareholders have been disenfranchised by manual processes, issuers have lacked real-time market intelligence, and the entire ecosystem has operated with inefficiencies that would be unthinkable in today’s digital economy.

Bridging the Digital Divide Nigeria’s recent Securities and Exchange Commission directive on unclaimed dividends illuminated a problem that extends far beyond regulatory compliance. When dividends worth billions of naira remain unclaimed for years, we’re witnessing the consequences of disconnected, analogue systems operating in a digital world. Shareholders lose access to their wealth, companies face regulatory burdens, and the entire market suffers from reduced liquidity and confidence.

This challenge extends across Africa’s capital markets. Traditional registrar services, built for a different era, struggle to serve today’s sophisticated investors who expect real-time access, transparent processes, and seamless digital experiences. The gap between expectation and reality has created an urgency for transformation that cannot be ignored.

Technology as Great Equaliser Technology isn’t merely improving existing processes—it’s fundamentally reimagining what’s possible in African capital markets.

At Coronation Registrars, our journey began with a simple premise: every shareholder, regardless of location or portfolio size, deserves institutional-quality service and access to their investments.

This philosophy drove us to develop ShareholderLive, our comprehensive digital platform that transforms retail investors into empowered market participants. When shareholders can view their dividend portfolios in real-time. We’re not just digitising services—we’re democratising wealth creation.

The impact extends beyond individual convenience. Our data shows that digitally engaged shareholders are more likely to participate in corporate actions, attend AGMs, and maintain long-term investment positions. This engagement strengthens the entire market ecosystem whilst driving sustainable economic growth.

Redefining Market Standards Our recent achievement as Nigeria’s first registrar to fully automate bond processing represents more than technological advancement—it demonstrates how innovation can solve systemic challenges whilst creating

Setting New Standards Our ISO 9001:2015 Quality Management Certification reflects more than operational excellence—it represents our commitment to building sustainable competitive advantages through systematic quality management. In markets where trust is paramount, certified quality systems create confidence that attracts both local and international investment.

This certification underpins every platform we operate and every service we deliver. When international investors evaluate African markets, they seek partners who operate to global standards whilst understanding local market dynamics.

Our quality certification, combined with our technology platforms, positions us to serve as a bridge between global capital and African opportunities.

new market opportunities. The traditional bond processing cycle, plagued by manual delays and calculation errors, often discouraged institutional investment and limited market growth.

By developing end-to-end automation covering onboarding, computation, and e-payment notifications, we’ve eliminated these friction points whilst establishing new benchmarks for operational excellence. The result is faster turnaround times for issuers, more reliable service for investors, and enhanced transparency across the entire bond lifecycle.

Similarly, our Coronation Virtual platform has transformed how companies engage with shareholders during AGMs. The traditional model, which often excluded remote shareholders and limited participation, has given way to hybrid solutions that expand access whilst maintaining the integrity of corporate governance processes. During major AGMs, including those for Africa’s leading banks, oil and gas companies, telecom companies, manufacturing and other key sectors, we’ve demonstrated that technology can enhance rather than replace human engagement.

The Institutional Advantage Public companies across Africa face increasingly sophisticated investor expectations whilst navigating complex regulatory environments. Our IssuerLive platform addresses this challenge by providing real-time market intelligence that was previously impossible to access. When issuers can monitor their market position through live balance sheet data, track insider trading activities, and generate compliance reports on demand, they gain strategic advantages that drive better decision-making and enhanced

investor relations.

The platform’s Trade Report and Insider Report features, combined with flexible reporting periods, give companies unprecedented visibility into their market performance. This intelligence enables proactive management of investor relations, more strategic corporate actions, and better

Technology Driving Market Growth The true power of our technology platforms lies not in individual features but in their collective impact on market development. When we reduce the friction in shareholder services, more retail investors participate in equity markets.

The story continues online on www.thisdaylive.com

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T H I S D AY • FRIday, September 19, 2025

BUSINESSWORLD

Aviation

Burdens of Non-insurance of Nigerian Airports At the just concluded 5th CHINET Aviacargo Conference in Lagos, it was revealed that over the years, Nigerian airports have not been insured, a development that negates international practices and has compelled airlines and other airport users to carry financial burdens that hitherto would have been borne by insurance, writes Chinedu Eze

O

ne of the reasons why Nigeria is regarded as country with high risk by lessors and international insurance providers, is because the airports in Nigeria are considered insecure, since they are not covered by any insurance policies.

Also, reports about incidents that happened at the runways of Nigerian airports, such as the mentally derailed man that hung at the wing of aircraft at the Lagos airport, including villagers carving pathway near the runway at the Kaduna airport, and the Omagwa people spreading their farm produce at the runway at the Port Harcourt airport, give credence to the risky nature of Nigerian airports.

All these indicate that the airports managed by the Federal Airports Authority of Nigeria (FAAN) are porous and the most sensitive area, the airside, could be easily accessed. The poor insecurity at the airports justifies the decision to designate Nigeria as harsh operating environment. The airlines bear the burden of this designation because they pay higher premium in insuring their aircraft; almost three times what other airlines pay in Europe and the US. The mind-blowing information was revealed during the recently concluded 5th CHINET Aviacargo Conference, which held at the Eko Hotel and Suites, Lagos.

Insecurity At Nigerian airports, airlines spend money to protect their equipment and there have been incidents where unauthorised persons accessed aircraft parked at the ramp at the airports. Also, there have been cases where aircraft were damaged by poor facilities at the airports. There are many cases of bird strike at the take-off and landing at the airports, but when all these happen, the airlines carry the financial burden of repairing their equipment 100 per cent.

In March 2010, Arik Air aircraft, Boeing B737 was rammed by a taxi cab under its underbelly at Margaret Ekpo International Airport, Calabar. The incident caused significant damage to the plane and this occurred when a taxi driver drove past Nigeria Air Force gates and onto the tarmac, eventually stopping under the belly of the aircraft. The management of Arik Air insisted then that FAAN must pay for the repair of the aircraft but the management of the agency refused.

Also in January 2022, unknown persons accessed a Boeing B737-700 operated by Arik Air at the tarmac of the domestic terminal of the Murtala Muhammed International Airport, known as MMA2 and cannibalised the aircraft. The thieves took away Flight Management Computer (FMC), Pilot Static Cover and other sensitive parts from the aircraft. The aircraft was repaired and expenses was fully paid by the airline.

Importance of Insuring Airports At the 5th CHINET Aviacargo Conference which was incorporated into the 21stAkwaaba African Market meeting,

the Managing Director of Overland Airways, one of oldest and successful airlines in Nigeria, Captain Edward Boyo, said: “We have to make sure that all airports in Nigeria take on insurance. Because a lot of jet aircraft are destroyed by airports’ inefficiencies in infrastructure. A lot of the accidents that happen at the airports are the direct consequence of the airports. This is because airports have traditionally been owned by the government. You find most of the government oppressing the people. We are talking about airline insurance, passengers’ insurance, luggage insurance.”

According to him, the inadequacy of their wildlife control, the inadequacy of their Derubberization, the inadequacy of their runway activity area hygiene, and so many other things, pose risk because the airports are not insured.

It is like I am driving a car on the road, and I have insurance, while others are allowed to drive a car on the road without insurance.

Captain Boyo said airport insurance was removed from the part 18 of the Nigerian Civil Aviation Regulation (Nig-CARs) and urged the Nigeria Insurance Commission (NAICOM) to give serious consideration to making FAAN and other airport operators in Nigeria take on insurance.

However, the Managing Director and CEO of FAAN, Mrs. Olubunmi Kuku, said that the agency has insured all its airports.

“This issue was brought to my attention, but I am clarifying that all FGN airports managed by FAAN are insured with the insurance up to date.

Derubberization and runway hygiene has been intact; records are available.

The only area that I will agree is the habitation and community issues that have impacted the wildlife/bird strikes and we have been working closely with relevant stakeholders to control.

The historical runway issues based on structural/engineering issues on some of the runways along with those exceeding their lifespan are being

corrected gradually with complete overhauls and maintenance,” she said.

Insiders in Insurance sector have however, queried the type of insurance undertaken by FAAN when airlines are allowed to bear the full cost of damages to their aircraft at the airports.

THISDAY learnt that airlines that have suffered bird strike at different airports in Nigeria with severe damage to their aircraft fully pay for the repair of those engines without any insurance company intervening on behalf of FAAN to defray the cost of repairs.

“FAAN as an institution is supposed to take three insurances, which include fire and burglary insurances for their assets; group life assurance for their workforce and public building insurance for third party liability. Does FAAN pay insurance for its airports?

I can say yes and no in the sense that they could be paying group life insurance, which the federal government pays for MDAs. I can also say no; that they do not pay because they hardly undertake fire and burglary insurance, public building insurance for third party, which is one of the compulsory insurances but government agencies do not pay the insurance adequately. So, FAAN should explain which insurance policies it has undertaken,” an insurance insider told THISDAY. Standard Practice The former Managing Director of FAAN and currently the Managing Partner, Avialog Company Limited, Dr. Richard Aisuebeogun, who is an expert in airport management, told THISDAY that although the Airport Council International (ACI) did not make airport insurance a sine qua non for its membership and operation but it is standard practice that airports should be insured.

Aisuebeogn stated that the Airports Council International generally does not issue binding regulatory requirements like International Civil Aviation Organisation (ICAO) or Civil Aviation

Authorities. Instead, ACI provides best practice guidance and industry standards to promote safety, security, and efficiency at the airports.

“In the same token, ACI encourages risk management and adequate insurance coverage as part of airport corporate or statutory governance. It does not specifically mandate that every airport serving scheduled airline operations must be insured,” he said.

Aisuebeogun pointed out the reasons why it is so and noted in terms of regulatory context, insurance requirements are usually enforced by the civil aviation authorities or regulatory agency and not ACI. For example, many States (countries) make it compulsory for airports or aerodrome to maintain liability and property insurance as part of their certification standards procedural requirements.

The Managing Partner of Avialog Company Limited also noted that even if insurance of airports is not compulsory under ACI, most international, regional, and domestic airlines, investors, and service providers, expect airports management agencies or authority, as in Nigeria’s case, to carry adequate liability and property insurance.

“It is both a risk management tool and evidence of financial responsibility,” he said.

He also noted that in terms of practical risk management, “airports are exposed to significant risks (aircraft accidents and incidents, passenger injury claims, damage to third parties, terrorism, natural disasters, etc.). Operating without insurance could expose both the airport operator and the State to disastrous or devastating financial loss.”

Credibility and Protection Expressing his view on the issue, Aisuebeogun said: “Yes, insurance should be considered essential and non-negotiable for airports serving scheduled airline operations. Even if ACI does not make it compulsory, an airport that wants to be credible, safe, and sustainable in operations must and should be insured. It protects not only the airport authority but also airlines, passengers, and the wider aviation system.

Airports providing services for scheduled airline operations must maintain adequate insurance coverage as a fundamental component of aviation safety, financial responsibility, and operational resilience.”

According to Aisuebeogun, “While the International Civil Aviation Organization does not prescribe specific insurance policies, its standards and recommended practices — particularly in Annex 14 (Aerodromes), Annex 19 (Safety Management), and Doc 9774 (Aerodrome Certification) establish the obligation for aerodrome operators to safeguard passengers, airlines, and third parties, and to demonstrate the financial capacity to manage liabilities. Insurance provides the practical mechanism for fulfilling these obligations,” The story continues online on www.thisdaylive.com

This

Weekend

Friday, SEPTEMBER 19, 2025 • T H I S D AY

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

07010510430

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Weekly Magazine UTH

& R E ASO

Kelvin Jombo Onumah’s Unwavering Commitment to Entrepreneurship, Empowerment and Philanthropy

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Friday, SEPTEMBER 19, 2025 • T H I S D AY

Cover

Kelvin Jombo Onumah’s Unwavering Commitment to Entrepreneurship, Empowerment and Philanthropy Chief Kelvin Jombo Onumah stands out as one of Nigeria’s most dynamic entrepreneurs and philanthropists, a man whose life blends business success with an unwavering commitment to humanity. At an age when many are still finding their path, he has already built a formidable international business empire while using his influence and resources to uplift communities, empower young people, and inspire life. Uzoma Mba writes that his story is not one of privilege, but of resilience, vision and a belief that true success is measured by the lives one transforms

I

n the world of Nigeria’s entrepreneurial and philanthropic elite, Chief Kelvin Jombo Onumah has carved out a unique place.

His legacy is multidimensional— an international businessman, a humanitarian, and a leader whose philosophy is grounded in empowerment and compassion.

Born on 28 September four decades ago in Abiriba, Ohafia Local Government Area of Abia State, his formative years were shaped by loss and resilience.

The death of his father, Chief Kalu Onumah, at an early age exposed him to the realities of life. Yet, rather than breaking him, it instilled in him independence and a drive for greatness.

His early education spanned Rivers and Abia States, culminating in his First School Leaving Certificate in 1999 and secondary school graduation from St. James Model Science Secondary School, Aba, in 2005. He later earned a Bachelor of Science degree in Sociology from the University of Lagos—an academic grounding that supported his entrepreneurial instincts.

The Rise of an Entrepreneur Onumah’s entrepreneurial journey began soon after university when he moved to Cotonou, Benin Republic. There, he founded Ste. Jombo Et Freres Benin, a trading company that focused on imports. This venture sharpened his leadership skills and gave him a global perspective, as he quickly adapted to international business environments.

Fluent in English, Igbo, French, and Spanish, he emerged as a multilingual businessman with a strong edge in global dealings.

His eventual return to Nigeria saw the establishment of the Sublime Group of Companies, a diversified conglomerate that spans hospitality, real estate, pharmaceuticals, and manufacturing. As Managing Director of Jombo & Mark Investment Limited and Sublime Industries Limited, he expanded aggressively.

Among his most visible projects is Sublime Hotels in Lekki/Ajah, Lagos—a luxury hospitality brand that quickly became a benchmark for class and comfort. The group also oversees Sublime Luxury Homes Limited, Sublime Star Pharmaceutical Company, and KJO Aluminium Limited, each reflecting his knack for meeting market needs with uncompromising

of a community civic centre at Ndi Erem, Umueso, and the Ndi Erem Link Road fitted with solarpowered streetlights.

He also spearheaded the electrification of the Abiriba–Ohafia Federal Road with solar streetlights, a project that enhanced security, reduced crime, and improved commerce. These projects reflect his philosophy that development should be strategic, not cosmetic.

Education as the Foundation of Empowerment Education remains one of the strongest pillars of his philanthropic work. The Kelvin Jombo Foundation has sponsored more than 100 students in Abiriba, covering tuition for senior secondary pupils, undergraduates, and final-year students.

During the COVID-19 pandemic, the foundation swiftly responded with relief materials, personal protective equipment, and healthcare support—evidence of its agility in crisis management.

Kelvin Jombo Onumah

quality.

Philanthropy as a Life Mission Onumah’s story cannot be told without highlighting his philanthropy. In 2010, he established the Kelvin Jombo Foundation, a nonprofit focused on human capacity development, youth empowerment, women’s inclusion, and community development.

Guided by the United Nations Sustainable Development Goals (SDGs), the foundation has prioritised No Poverty, Zero Hunger, and Quality Education.

For over a decade, it has become a leading African philanthropic network.

Similarly, orphanage support remains a key focus, with steady provision of food, clothing, and scholarships for children.

Onumah believes education is the most powerful tool for transformation. “These orphans are the future leaders, doctors, and entrepreneurs of Nigeria,” he often says. His foundation has consistently sponsored children’s education, ensuring their dreams are not cut short by circumstance.

Healthcare has also been central. In 2023, the foundation marked World Sight Day with free vision screenings and ocular medication distribution, directly improving lives and reaffirming the belief that good health underpins human dignity.

Uplifting the Vulnerable The foundation’s mass prison outreach programme remains one of its most remarkable interventions. Visiting hundreds of inmates, it brought supplies, mentorship, and hope to those often forgotten by society.

Investing in His Roots Despite his international acclaim, Onumah has remained deeply connected to his hometown, Abiriba. His projects include the reconstruction of the Abiriba Weekly Market (Afia Nkwo), the construction

Leadership Style and Recognition Associates describe Onumah as a strategic planner and goal-getter, someone who leads with courage and vision. Though not born into privilege, his trajectory is proof of what hard work and focus can achieve.

His humility and generosity have become legendary. In his community, it is often said: “You don’t meet Chief Jombo Onumah and still go home sad.” This captures his generosity of spirit and central hobby of giving back.

Over the years, he has received multiple awards and traditional titles, affirming his role as a community leader and nation builder.

A Lasting Legacy Still in his early 40s, Kelvin Jombo Onumah’s legacy is already profound. As an entrepreneur, philanthropist, and role model, he has inspired countless youths across Nigeria and Africa. His blend of business acumen and philanthropy demonstrates that wealth gains its highest meaning when shared to uplift others.

He is often described as a phenomenon, a rare treasure, and a pride to his family, friends, and community. More importantly, he is living proof that a generous heart and fearless spirit can make the world a better place.

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Friday, SEPTEMBER 19, 2025 • T H I S D AY

news

Beyond the Battlefield: How the Nigerian Army is Revitalising Its Forgotten Barracks

A quiet transformation is unfolding in Nigerian Army barracks, especially those tucked away in remote border communities where living conditions are often the toughest. From better schools to improved hospitals and housing, these legacy projects are changing not just how soldiers and their families live, but how they feel about the institution they serve. At the heart of this shift is the Chief of Army Staff (COAS), Lieutenant General Olufemi Oluyede, whose “Soldier First” concept places the welfare of personnel and their families at the very centre of his leadership, Chiemelie Ezeobi writes

The COAS, Lt. Gen Oluyede at the 130 Battalion /341 Artillery Regiment in Ogoja

COAS in 6 Div after inaugurating a renovated accommodation in PH Barracks

The first time ever a COAS visited Shendam, Plateau

COAS also visited troops at Dutsinma, Katsina State

I

n border communities where living conditions are usually the toughest, a ray of hope was recently re-ignited for the families of soldiers of the Nigerian Army, who reside in barracks in those areas.

While executing their sworn responsibility to protect the territorial integrity of Nigeria, the home front is more often than not neglected. But the Chief of Army Staff (COAS), Lieutenant General Olufemi Oluyede, is changing the status quo with his “Soldier First” concept, whereby the holistic welfare of personnel is sacrosanct.

Soldier First Concept General Oluyede’s philosophy is simple: “Soldier First.” For the people living in barracks tucked away in the country’s most difficult corners, those two words have now come alive in the most human way possible.

The COAS has stressed repeatedly that it is not just about soldiers fighting wars, but about their children going to good schools, their wives having proper hospitals, and their families living with dignity.

By placing the soldier and his family at the centre of policy, General Oluyede has begun reshaping the relationship between the Army and its rank-and-file in ways that go beyond the battlefield.

The Miracle at Ogoja When the sound of sirens faded at the gates of Godwin Abbey Cantonment in Ogoja, Cross River State, there was a hush of disbelief. Soldiers and

their families craned their necks, whispering, “Is it really him?”

Yes, it was. The Chief of Army Staff, Lieutenant General Olufemi Oluyede, had come not to the big parade grounds of Abuja or Lagos, but to a remote barracks that many felt had been long unvisited by a very senior general of his cadre.

For wives who had raised children in classrooms without proper furniture, for soldiers who endured years of service in silence, and for little children who had never seen the Army Chief in the flesh, that moment felt almost unreal.

“He came to us,” one soldier’s wife said, fighting back tears. “For years, we felt invisible. Now we know our sacrifices matter.”

At Ogoja, the Army Chief didn’t just sit for handshakes and salutes.

He walked through dusty classrooms with broken desks, poked his head into hospital wards, and even checked old water sources that once served hundreds of families.

What followed was not a long speech but swift action. Right there, he gave orders for schools to be rebuilt, hospitals refurbished, and new water facilities provided. Construction began almost immediately.

For families who had known nothing but neglect, this visit was a turning point. Mothers smiled at the thought that their children would soon sit in bright classrooms.

Fathers, hardened by years of duty, confessed that it felt good to know

their families were finally being seen.

“He listened to us,” said Corporal James, a father of three.

“Not as a commander speaking to subordinates, but as a human with passion who understands our struggles.”

Across the Barracks General Oluyede’s leadership style is defined by his willingness to go where only few have gone before.

His itinerary has taken him across remote barracks, border towns, and forgotten corners of the country, places far from the limelight where conditions are often the toughest.

At the 130 Battalion / 341 Artillery Regiment in Ogoja, his presence lifted spirits. In Port Harcourt, he inaugurated renovated accommodation in the barracks of 6 Division, bringing long-overdue relief to troops and their families. In Yenagoa, he stood before soldiers of 16 Brigade, addressing them not just as their commander, but as someone determined to honour their service.

In Shendam, Plateau State, soldiers witnessed history as it was the first time ever that a Chief of Army Staff visited their community. At Dutsinma in Katsina State, he also met with troops, reinforcing his message of care and commitment.

Beyond these, his itinerary has

visits to barracks in Shandam, Serti, Takum, Shaki, Nguru, Ikom, Owode, and Ikenhua. Each stop is more than symbolic. He listens to complaints, inspects facilities, and leaves behind promises backed by action. From better schools to improved hospitals, these legacy projects are changing not just how soldiers live, but how they feel about the institution they serve.

Perhaps the most striking outcome is not the new buildings or the directives given. It is the rekindled sense of dignity among soldiers and their families. For once, they feel seen, valued, and respected by the very top of the chain of command.

As one young soldier’s daughter in Ogoja put it after shaking the COAS’s hand: “I will never forget this day. I now know my father’s work matters.”

Beyond the Battles In a profession often defined by discipline, strategy and command, General Oluyede is carving out a different kind of legacy, one that is deeply human. By showing up, listening, and acting, he is proving that military leadership is not just about winning battles, but about honouring the people who fight them.

In the quiet corners of Nigeria’s almost forgotten barracks, hope is rising again, carried not by orders shouted across parade grounds, but by the steady steps of a General who chooses to walk with his soldiers, side by side.

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FACTFILE

FRIDAY, SEPTEMBER 19, 2025 • T H I S D AY

with Lanre Alfred

…truth behind the headlines, conspiracies, cover-ups, trials and triumphs

Like Jonathan, Like Ambode I have watched, with a mixture of amusement and alarm, the recent groundswell of chatter urging Akinwunmi Ambode to make a dramatic return to the Lagos governorship race.

I see the hashtags, the glowing online columns, the carefully planted stories in fringe blogs, and the whispers at political dinners in Ikeja and Victoria Island. Everyone suddenly claims that “Ambode is the people’s choice.”

They say “the streets want him back,” that “he is Bola Tinubu’s secret anointed,” and that “the President himself is tired of the current order in Lagos.”

But I have been in this game too long not to recognise a familiar pattern. I have seen political jobbers at work, the desperate middlemen who thrive on fanning the embers of ambition in men who should know better.

They did it yesterday to Goodluck Jonathan, and today they are at it again with Akinwunmi Ambode. And if Ambode isn’t careful, if he allows them to seduce him into believing that he is Tinubu’s preferred choice, he may find himself on the same slippery slope of political miscalculation that has claimed many men before him.

Let me start with Jonathan. How many times have we read planted stories that Goodluck Jonathan was preparing to return to Aso Rock?

They said he had been begged by PDP elders to “rescue the party.” They said northern leaders had promised to back him because he would only serve one term. They said Tinubu himself would secretly support him to stabilise the polity. All lies. Nothing but glossy tales from the rumour mill.

And yet, they pushed and pushed, hoping Jonathan would take the bait. Imagine the absurdity, running against Bola Ahmed Tinubu, Ambode the very man with whom he has cultivated one of the most mutually beneficial friendships in Nigeria’s political space. The same Tinubu who stood by him during tense transitions, who never disrespected him even when their camps clashed. The jobbers wanted Jonathan to become cannon fodder in a war that was never his to fight.

That is why I am forced to sound this alarm now: Ambode must not allow himself to be Jonathan-ed.

I’d advise Ambode to shun the seduction of romanticised return, especially when he is yet to receive any assurance from the powers that be. Yet, the chorus is growing louder. APC foot soldiers who never quite found their feet in Lagos politics, online media desperate for clicks, and a handful of disgruntled party men are the ones stoking this fantasy. They rumour that Ambode is the only man who can “save Lagos from the grip of vested interests.” They claim President Tinubu is secretly rooting for his return. They circulate stories that “Abuja is fully behind him.”

But let us pause for a moment. Who has heard Tinubu say so? Has the President called a press conference to declare Ambode his candidate? Has he so much as dropped a hint in the numerous private meetings he holds with Lagos power brokers? Not once.

Not a single word. Yet these political traders, who dine fat on manufactured rumours, insist otherwise. I have seen this movie before: the flattering of egos, the half-truths spun in smoky lounges, the assurance that “the oga at the top is behind you.” And then, when the man takes the plunge, when he discovers that the ground beneath him is hollow, it is too late. The same people who urged him on will vanish, or worse, switch sides.

Both Jonathan and Ambode must beware the danger of false endorsements. I am always wary whenever I hear the phrase, “everybody wants him back.” Who is everybody? The party hierarchy in Lagos? Certainly not. The state structures remain firmly under the grip of

the ruling establishment. The President? Again, nobody has evidence. The streets? Lagosians may murmur about missed opportunities, but elections are not won on murmurs, they are won on machinery, and that machinery is not in Ambode’s pocket.

Ambode should remember: this was exactly the script they gave Jonathan. They told him “Nigeria wants you back.” They told him “Tinubu is quietly with you.” They said “the PDP cannot survive without you.” In the end, Jonathan wisely avoided the trap. He refused to be used as a pawn against his friend. Ambode should borrow a page from that caution.

What makes their stories even more tantalising is the eerie similarity in Jonathan and Ambode’s trajectories. Both men were “one-term wonders,” thrust into power by circumstances bigger than themselves. Jonathan rose to the presidency after Yar’Adua’s death and won an election in his own right, only to be swept aside after a single full term.

Ambode, handpicked by Tinubu, enjoyed four years as governor but could not secure his party’s blessing for a second.

It is this shared fate that the jobbers exploit.

They say: “Both men were victims of political cabals. Both men deserve a comeback. Both men should rise again.” It is a seductive narrative, but a false one. Because politics is not a fairy tale; it is not a Nollywood script where the wronged hero always returns for redemption.

In truth, Jonathan has moved on. He has found relevance as a statesman, a continental envoy, a respected elder. Ambode too can find peace outside the suffocating arena of Lagos politics. But only if he resists the urge to be used as a battering ram by desperate elements with vendettas of their own.

Beware the Political Jobbers I have seen these characters up close: men who hover around corridors of power, never elected, never influential in their own right, but always scheming. Their talent lies in whispering into the ears of fallen gladiators, inflating egos,

and promising relevance where none exists.

They are the same ones who told Jonathan to contest. They are the same ones now telling Ambode to jump back into the ring. And make no mistake, their interest is not Ambode’s success. Their interest is in weaponising him against Tinubu, or against the Lagos power structure, or against their personal enemies.

Once Ambode throws his hat into the ring and the blowback comes, they will be nowhere to be found. I know them too well; I have watched them hop from one sinking ship to another, always scheming, never loyal.

If I could speak directly to Akinwunmi Ambode, I would say: sir, be very careful. Do not allow desperation or flattery to drag you into a fight that is not yours. Lagos politics is unforgiving. Tinubu is not only President, he is also the single most influential political figure in the state. Nobody, absolutely nobody, can claim to know his mind except himself. If he has not publicly or privately indicated support for you, do not be deceived by whispers.

Politics has no space for sentimental comebacks. The idea that “the people want you” is charming, but power is not transferred through charm—it is negotiated, structured, and brutally contested. Do not walk into a battle you cannot win, because regret in politics is a scar that never heals.

Goodluck Jonathan has played his cards wisely so far. Despite relentless pressure, he has not fallen into the trap of running against Tinubu. He understands that friendship, legacy, and dignity matter more than one more term in power.

Ambode should do the same. Instead of being dragged into this quixotic quest, he should focus on reinventing himself as a technocrat, a respected elder in Lagos affairs, or even as a statesman beyond the narrow corridors of partisan politics. Lagos will always remember him as governor; he does not need another bruising campaign to validate his relevance.

And so I say, like Jonathan, like Ambode.

Both men know what it means to taste power

for just one term. Both men are being flattered by jobbers and hustlers into attempting comebacks that serve other people’s interests more than their own. Both men must resist.

Because in Nigerian politics, nothing is more dangerous than being used as a pawn in another man’s vendetta. Jonathan has so far sidestepped the trap. Ambode must learn from his caution. Otherwise, the same jobbers chanting sweet promises today will be the first to laugh tomorrow if he stumbles.

I have seen this story too many times not to recognise it. And so I write, with all the urgency I can muster: Ambode, beware. The drums they are beating for you are not of celebration; they are war drums, and the battlefield is one you do not need to enter.

Interestingly, however, the first time I met Akinwunmi Ambode, he was not yet governor. He was a candidate then, a man on the cusp of something vast. A mutual friend had arranged the meeting. “You must meet him,” he’d said with the kind of insistence only truth gives birth to. “He’s going to be Lagos governor.” And there he was: calm, collected, clad in simplicity, yet wrapped in a charisma that didn’t shout but lingered.

He received me with a warmth I hadn’t expected, a glow in his smile, an embrace in his handshake. There was something soft-spoken yet sturdy about him, the kind of presence that commands without posturing. He listened more than he spoke. When he did speak, he said with a quiet confidence: “We’ll do a lot together. This journey is just beginning.” I believed him. He meant it.

To emphasise his willingness to work with me, he looked to an aide who was present and instructed him to ensure that his administration constructively engaged with me. But that meeting would be my only encounter with him until he was elected as Lagos’ governor.

There would be no encore.

Indeed, life has its rhythms and reroutes. After Ambode won the election, the inevitable gulf of governance widened the distance between us. Our paths diverged. I would think of that moment from time to time.

Then, years later, I met him again. I was invited to an interactive roundtable session with him, now as the Governor of Lagos State. The room was brimming with guests, opinions, egos and hopes. When it was my turn to speak, I rose and introduced myself with a smile and a tinge of nostalgia. Before I could say more, his voice pierced gently through the room: “Where have you been all these years?” He remembered.

I told him I had been around and to that he quipped that he was told I had relocated abroad. Instantly, he turned to that member of his cabinet, a commissioner, who was present when he pledged to engage me few years earlier. He stared at him quizzically, asking why he was told that I was unreachable and no longer in the country, while I was in the country. Again, he reiterated his promise and instructed that commissioner to ensure his government engaged with me productively.

Although, our meeting was once again sabotaged, that moment was seared in my memory, not because of flattery, but because of what it revealed. Ambode does not forget.

He stores encounters like seeds, waiting for the season when they may sprout again. In a world where people discard faces and friendships once they ascend the mountaintop, Ambode remembered mine. That, to me, speaks of the essence of the man.

He remembers people. He honours connections. He sees collaborators, not pawns. He values partnership. His memory is not simply photographic; it is empathetic, anchored in a deep sense of continuity and human worth. That moment said to me: You matter. Few politicians have ever said as much without words.

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THISDAY • FRIDAY, SEPTEMBER 19, 2025

POLITY As DSS Confronts Sowore’s ‘Scorched-Earth’ Strategy

By Lewis Chukwuma

A

rguably the poster-boy of Nigeria’s activism ecosystem, online publisher of SaharaReporters and rambunctious politician, Omoyele Sowore, has probably earned his epaulets, tracking his nimble interventions and a wide swathe of comic escapades he has scripted in the last two decades, often laced with quaint rhetorical violence.

But has the fire-eating activist derailed currently? Has he weaponized freedom of expression! Though he has never publicly claimed to be a candidate for sainthood awaiting final Papal proclamation, Sowore would appear to have goofed in his recent unfortunate and curious virulent attack on President Bola Ahmed Tinubu. On his “X” handle page on August 25, 2025, Sowore had spawned a storm by calling out President Tinubu as a criminal.

In consequence, the Department of State Services (DSS) on Tuesday initiated legal action against Omoyele Sowore for allegedly making false claim against the person of President Bola Tinubu by referring to him as a criminal. The suit filed before a Federal High Court in Abuja, trailed refusal of the defendants to pull down the said false and misleading message, as requested by the DSS. It could be recalled that earlier the security agency had threatened legal action against X, formerly known as Twitter and Facebook, for offering their platforms to Sowore, who in a post called the Nigerian President a “criminal.” In the separate letters to the social media platforms, the DSS had requested that the false statement against the president be pulled down or it would initiate legal action.

Defendants in the suit marked: FHC/ ABJ/CR/484/2025, include; Sowore, Meta (Facebook) Incorp and X Incorp. In the five-count charge, the DSS is alleging that Sowore, the presidential candidate of the African Action Congress (AAC) in 2019 and 2023, and convener of the #RevolutionNow protest against the administration of former President Muhammadu Buhari, contravened the provisions of the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024.

Following the filing of the charge, Sowore is expected to be arraigned soon. One of the five-count charges read: “That you, Omoyele Sowore, adult, male on or about the 25th day of August, 2025, within the jurisdiction of this Honourable Court, did use your official X handle page, @Yele Sowore, to send out a message/tweet as: “THIS CRIMINAL @ OFFICIAL PBAT ACTUALLY WENT TO BRAZIL TO STATE THAT THERE IS NO MORE CORRUPTION UNDER HIS REGIME IN NIGERIA. WHAT AUDACITY TO LIE SHAMELESSLY!,” which you know the said message to be false but posted it for the purpose of causing a breakdown of law and order in the country, especially among individuals, who hold divergent views on the personality of the President and Commander in Chief of the Armed Forces of the Federal Republic of Nigeria, Bola Ahmed Tinubu (GCFR) and thereby committed an offence contrary to Section 24 (1) (b) of the Cybercrimes (Prohibition, Prevention, etc) Amendment Act, 2024.

However, in a counter-suit, Sowore also

DSS Boss, Adeola Ajayi

Omoyele Sowore

took the DSS, social media giant Meta (owners of Facebook), and X Corp (formerly Twitter) to the Federal High Court in Abuja over what he described as a coordinated attempt to silence him and suppress free speech in Nigeria.

According to a statement issued by his lead counsel, Tope Temokun, on Tuesday Sowore filed two fundamental human rights enforcement suits, challenging what his legal team called “unconstitutional censorship” and attempts by state agencies to influence global tech platforms to restrict citizens’ speech. Temokun stressed that the suits were not just about Sowore personally but about the principle of free expression for all Nigerians.

It is interesting that Sowore is now seeking refuge in the same judicial system he has, time and again, labelled “corrupt.” There’s literally no judge in Nigeria that Sowore has not denigrated, including past and serving judicial officers at the highest level. Well, that is a matter for another day.

Three instances, for the purpose of this analysis, illustrate that unlimited free speech doesn’t exist - even in well-known liberal democracies.

Freedom of expression is not absolute and must be balanced against other fundamental rights. Such include the right to privacy, honor, and reputation. Making speeches that incite hatred, constitutes libel or slander, or causes serious offense may not be protected under freedom of expression. Nothing perhaps better conveys the weight of the consequences of freedom of expression than in the small East African country called Rwanda.

Under the guise of freedom of expression, in April 1994, a seemingly harmless broadcast by one person was made on radio. This broadcast triggered the start of 100 days of genocide that left more than one million people dead.

Freedom of speech does not mean freedom from consequences. For instance, you can’t, banking on freedom of expression, say something that will cause other people

harm- or kill them. One can’t, for instance, under the guise of freedom of expression, barge into a crowded hall and yell “Fire!”

In the same vein, one cannot under the guise of exercising his or her freedom of expression scream “I have a bomb” on an airplane.

Worried by the need to balance freedom of expression with hate speech the United Nations Secretary-General António Guterres, in May 2019, said, it was the duty of all to keep “hate speech from escalating into something more dangerous, particularly incitement to discrimination, hostility and violence, which is prohibited under international law.”

Something remarkable recently happened in the n the UK that granted us independence.

In the wake of the shooting to death in the US of President Trump’s supporter, Charlie Kirk, President-elect of Oxford University Student Union, George Abaraonye, made a post on a Whatsapp chat group mocking Kirk’s death. He also reportedly made a similar post on Instagram. Posted Abaronye, “Charlie Kirk got shot loool” - an elongated version of the phrase ‘lol’ which means ‘laughing out loud’.

The post appeared to welcome the incident.

On realizing the backlash his comment on the shooting which - by the way - happened thousands of miles away in the US generated, Abaronye quickly deleted the post and apologized. The school authorities would have none of that. Oxford University insists Abaronye will be punished, saying free speech cannot and will not come at the expense of violence, intimidation or hate.

In a statement posted on X late on Thursday, the Oxford Union said it “unequivocally condemns the reported words and sentiments” expressed by Mr. Abaraonye, who was elected as the society’s new president in June.

It is interesting to note that, even though Kirk was killed in faraway America, comments by a student in the UK were still considered offensive. The implication is that in the UK, as in everywhere, sometimes

free speech has consequences.

In the US, in September 2022, Uju Anya, an associate professor of applied linguistics at Carnegie Mellon University, tweeted that the reign of Queen Elizabeth II was a period of suffering and colonization for many, a sentiment she also extended to the wealth amassed by individuals like Jeff Bezos.

“I heard the chief monarch of a thieving, raping genocidal empire is finally dying.

May her pain be excruciating,” she tweeted.

Bezos responded to Anya’s tweet, which led to widespread public discussion and support for Anya from a large community of faculty and students.

Interestingly, without informing Anya, Twitter pulled down her tweet. It would be interesting to know why Twitter quickly pulled down Professor Anya’s tweet on Queen Elizabeth, the late Head of State of the United Kingdom, but has failed to pull down Sowore’s post on Tinubu, the sitting President of Nigeria.

Even Prof. Anya’s school, Carnegie Mellon, joined the fray by releasing a statement condemning her tweets. The ivory tower described her tweets as “offensive and objectionable.” Stressed the school, “We do not condone the offensive and objectionable messages posted by Uju Anya today on her personal social media account. Freedom of expression is core to the mission of higher education; however, the views she shared absolutely do not represent the values of the institution, nor the standards of discourse we seek to foster.”

In another case that is likely to stretch the freedom of expression to its limit, just this week, US President Donald Trump sued the New York Times, four of its reporters, and publisher Penguin Random House for at least $15 billion over alleged defamation and libel. Trump’s suit cites a series of New York Times articles, an editorial prior to the 2024 presidential election, which said he was unfit for office, and a 2024 book published by Penguin titled “Lucky Loser: How Donald Trump Squandered His Father’s Fortune and Created the Illusion of Success”.

“Defendants maliciously published the Book and the Articles knowing that these publications were filled with repugnant distortions and fabrications about President Trump,” Trump’s lawyers said in the filing lodged in the U.S. District Court, Middle District Florida, on Monday, September 15, 2025. The publications have harmed Trump’s business and personal reputation, thereby causing massive economic damage to his brand value and significant damage to his future financial prospects, Trump’s lawyers said in the filing.

“The harm to the value of TMTG (Trump Media and Technology Group) stock is one example of how the Defendants’ defamation has injured President Trump,” said his lawyers, citing “a precipitous decline in the stock price.”

“Today, I have the Great Honor of bringing a $15 Billion Defamation and Libel Lawsuit against The New York Times. The New York Times has been allowed to freely lie, smear and defame me for far too long, and that stops NOW.” Trump said earlier on Monday in a post on his social media platform Truth Social. There is more.

Continues online

•Chukwuma wrote from Jos

32

FRIDAY, SEPTEMBER 19, 2025 • THISDAY

NEWS

STRENGTHEN STRATEGIC PARTNERSHIP...

L-R: Olumo Abdulazeez Esq., Secretary, National Judicial Institute; Corps Marshal, FRSC, Shehu Mohammed; Hon. Justice B.A. Adejumo, OFR, Administrator of the National Judicial Institute (NJI); and Hajiya Salma Mundi, Institute Librarian, during a visit to the Corps Marshal to strengthen strategic partnership, yesterday

Rivers: Fubara, Loyal Lawmakers Fail to Resume as Atiku, Obi Knock Tinubu

Wike: peace has returned to Rivers, I won’t impose aides on governor ADC to President: you lack powers to fire, hire governors PANDEF hails lifting of emergency rule, welcomes Fubara’s return Assembly resumes sitting, to probe Ibas’ expenditures Tells Fubara to submit list of commissioner nominees, new budget

Chuks Okocha, Sunday Aborisade in Abuja, Nume Ekeghe in Lagos and Blessing Ibunge in Port Harcourt Port Harcourt was in a celebratory mood yesterday following the lifting of a six-month suspension imposed on democratic institutions in Rivers State by President Bola Tinubu. There was drumming, singing, and dancing around Government House, as enthusiastic residents anticipated the resumption of Governor Siminalayi Fubara, and his deputy, Professor Ngozi Odu, at the seat of power.

But the expected resumption of duties by the governor did not eventuate, THISDAY learnt.

Likewise, Rivers State House of Assembly resumed plenary yesterday, in full attendance, except for Hon. Victor Oko Jumbo, Hon. Sokari Goodboy, and Hon. Timothy O, all Fubara loyalists.

Tinubu had on March 18 declared a state of emergency in Rivers State following a political standoff between Fubara and members of the House of Assembly loyal to Minister of the Federal Capital Territory (FCT), Nyesom Wike.

Tinubu suspended the governor, his deputy, and the entire state legislature for six months. The president installed a sole administrator, Vice Admiral Ibok-Ete Ibas (retd.), to manage the state’s affairs.

The decision sparked widespread controversy, with critics accusing the president of breaching the constitution.

At the expiration of the six months’ suspension, Tinubu, on Tuesday, announced the lifting of the ban on democratic institutions, effective from the midnight of September 17, asking Fubara, Odu, and the

Assembly to resume duties on September 18.

But former Vice President Atiku Abubakar said the suspension of the governor, his deputy, and members of the House of Assembly was illegal.

In a post on X yesterday, Atiku stated that the lifting of the suspension was not worth celebrating, maintaining that Tinubu has no power to suspend a democratically elected governor and state lawmakers.

The 2023 presidential candidate of Labour Party (LP), Mr. Peter Obi, also declared that the

Senate Urges FCT Doctors to End Strike, Vows Swift Action on Demands Sunday Aborisade in Abuja

The Senate Committee on Federal Capital Territory (FCT) Area Councils and Ancillary Matters has appealed to striking resident doctors in the FCT to suspend their ongoing industrial action, pledging to intervene directly with the FCT Minister, Nyesom Wike, to address their grievances.

During an emergency meeting held yesterday with leaders of the FCT chapter of the National Association of Resident Doctors (NARD), the committee, led by its Chairman Senator David Jimkuta (Taraba South), acknowledged the legitimacy of the doctors’ concerns and promised immediate engagement with relevant authorities.

Jimkuta said: “We are pleading with you, return

to work and give us the opportunity to mediate. I will personally take up this matter with the Minister tomorrow. Our people are suffering; we must act swiftly.”

The lawmaker stressed that the ongoing strike is taking a severe toll on patients, many of whom rely solely on public healthcare facilities in the capital.

He commended the doctors for their patriotism in remaining in the country despite the worsening conditions and acknowledged that their demands are not selfish but aimed at strengthening the nation’s crumbling health system.

NARD FCT had declared an indefinite strike last week, citing long-standing welfare and infrastructure issues. Top among their demands are: It listed some grouses as

payment of salary arrears dating back to 2023; reversal of unexplained deductions from allowances; proper upgrading of qualified doctors still paid as medical officers despite specialist training and provision of basic diagnostic tools, including x-ray machines

and echocardiographs.

The doctors, led by the National President, Dr. Zenith Osundara, told the senators that the government’s failure to meet previous commitments made after earlier strike actions has left them with no choice.

six-month state of emergency imposed on Rivers State was a misstep that should never have happened. Obi stated this in a statement posted on his X handle on Thursday. He said the development had set a dangerous precedent in the country’s democratic process, and stressed that it was an unconstitutional act that undermined democracy.

African Democratic Congress (ADC) also condemned the cavalier manner in which Tinubu suspended and subsequently reinstated the elected governor of Rivers State, describing the action as “whimsically autocratic”.

But Wike disclosed that he recently held direct talks with Fubara, as part of efforts to strengthen peace in the oil-rich state, stressing that peace has finally returned to the state.

Atiku maintained that the lifting of the suspension was nothing to cheer about, as the suspension of the governor and the Assembly was unconstitutional when it was done six months ago and remained illegal.

He stated, “President Tinubu had no power to suspend a

democratically elected governor and state lawmakers. The Rivers shenanigans only signpost the dictatorship of the Tinubu administration.”

Obi said the measure was a grave mistake that disrupted democratic governance in the oil-rich state for six months, and emphasised that it also created needless provocation and hardship for the people of Rivers State.

He stated, “The restoration of democracy in Rivers State after six months of needless disruption remains a sour side of our democracy today.

“It was a constitutional breach that will hurt our democracy for a long time. The only real mistake is the one where we end up learning nothing. True leadership requires honesty, humility, and the courage to admit and correct errors.”

While commending the residents of Rivers State for their resilience during the political crisis, Obi appealed to Fubara, members of the state legislature, and other stakeholders to embrace peace and work together for the progress of the state.

Continues online

PSC: Over 500 Police Officers Attended Promotion Interviews

Linus Aleke in Abuja

The Police Service Commission (PSC) yesterday revealed that over 500 senior police officers from across the Federation appeared before it for promotion interviews to the next ranks.

A statement by the Head of Press and Public Relations, Ikechukwu Ani, disclosed that 56 Chief Superintendents of Police were recommended for promotion to the rank of Assistant Commissioner of Police,

while 451 Superintendents were recommended for consideration for promotion to the rank of Chief Superintendent of Police.

The candidates, he said, were subjected to a written examination, with Justice Paul Adamu Galumje, Commissioner representing the Judiciary, and DIG (rtd) Taiwo Lakanu, Commissioner representing the Police and Chairman of the Standing Committee on Police Affairs,

presiding.

He stated that the commission has decided henceforth to make promotion examinations an indispensable requirement for advancement in the Nigeria Police Force, in order to ensure that officers are mentally equipped to face the challenges of 21st-century policing, in line with global best practices.

This, he added, is also to ensure that merit, competence, and character are prioritised.

“Deputy Superintendents of Police (DSPs) are expected to appear before the Commission tomorrow, Friday, 19 September 2025, for their own round of promotion examinations,” he further revealed.

Ani noted that the Chairman of the Commission, DIG Hashimu Argungu (rtd) has consistently advocated for a dynamic and modernised Police Force that aligns with the vision of the present government.

33

THISDAY • FRIDAY, SEPTEMBER 19, 2025

NEWS

PRESENTATION OF BUSINESS GROWTH GRANT TO THE WINNER AND 5TH ANNIVERSARY OF CAP PLC...

L-R: Chief Operating Officer, Chemical and Allied Products Plc (CAP), Mr. Jethro Iruobe; Managing Director, UACN Property Development Company Plc (UPDC) Facility Management, Tokunbo Lawal; winner of the CAP Business Growth Grant, Akinade Adedeji; Managing Director, UACN Property Development Company Plc (UPDC), Mr. Odunayo Ojo; and General Manager, Lagos State Physical Planning Permit Authority (LASPPPA), Mr. Kehinde Osinaike, at the presentation of the grand prize for the Business Growth Grant to the winner and 5th anniversary of CAP Plc Painters’ Training Academy, Lagos…recently

Counterinsurgency: ONSA, Military, Police, DSS, 20 Others Conduct Joint Simulation Exercise in Abuja Linus Aleke in Abuja The Office of the National Security Adviser (ONSA), in collaboration with the Nigerian military, the Nigeria Police Force (NPF), the Department of State Services (DSS), the National Emergency Management Agency (NEMA), and over 20 other emergency and response agencies of the federal government, yesterday conducted a crisis response simulation exercise, codenamed Rapid Response 2.

ONSA noted the annual simulation exercise, which took place yesterday at the Bola Ahmed Tinubu International Conference Centre in Abuja, is part of the federal government’s efforts to test the preparedness of the military, security, intelligence, emergency, and response agencies in effectively countering terrorism, insurgency, and other forms

of violent extremism in the country.

Speaking during the simulation exercise, the Director of Presidential Communication, Command and Control Centre, Office of the National Security Adviser (ONSA), Rear Admiral Emmanuel Nmoyem, stated the simulation exercise, an annual event, is primarily conducted to test response capabilities in accordance with the national crisis management doctrine.

Stressing that in every crisis synergy matters, Admiral Nmoyem said the essence of the simulation exercise was to further strengthen synergy among response agencies in the fight against terrorism.

He said, “It is about how we can get the ministries, departments, and agencies of government to collaborate and work together to tackle any situation.”

On how the exercise can help curb growing insecurity

in Nigeria, he explained: “Crises can occur at any time, and the purpose of exercises like this is to refresh the knowledge of those who are the first line of responders in crisis management regarding their responsibilities.

“Secondly, we aim to assess their response capabilities and competence in handling their core duties. If we conduct

this periodically, it will help ensure that when crises arise, we are better prepared to respond adequately. We may not respond perfectly, but exercises like this help prepare the agencies for such incidents in real-life situations.”

The Director-General of the National Emergency Management Agency (NEMA),

judge. That is the law. Anything else is illegality.

“Let us also state clearly that the Honourable AttorneyGeneral of the Federation is not innocent in this matter.

The AGF has consistently disregarded the subsisting judgment of the Federal High Court in Suit No. FHC/OS/ CS/103/2022 delivered on 30th November, 2022, which was affirmed by the Court of Appeal, Akure Division, in CA/ AK/270/2025 delivered on 13th June, 2025. Instead of respecting these judgments, the AGF has been instigating manipulations against the people of Osun State and their duly elected PDP local government officials.

“The AGF’s actions keep sug-

What you have witnessed today is the Office of the National Security Adviser taking charge of the security aspects.

“For NEMA, our role is to manage the fallout from security issues. Once the security phase is handled, we step in as first responders.

All the relevant MDAs are present here.”

N’Assembly: CBIAMEC Canvasses Establishment of Fund for Refugee Commission, NEMA Kuni Tyessi in Abuja The Civil Society Budget Implementation, Assessment, Monitoring and Evaluation, CBIAMEC has called on the National Assembly to immediately begin the legislative process to establish the Humanitarian Relief, Recovery, and Reintegration Fund, HRRRF in support of

the National Commission for Refugees, Migrants and Internally Displaced Persons, NCFRMI and the National Emergency Management Agency, NEMA. It says this has become expedient as the scale of humanitarian crisis clearly outweighs the resources currently available to NCFRMI and NEMA, which

Osun PDP Asks FHC Chief Justice to Probe ‘Suspicious Letters’ in LG Funds Case

matter and had ceased to be a party in the case.

It maintained: “How can the office of the Chief Judge be writing letters to a party that had no proper process before the court? This is strange, bizarre, and deeply troubling. We are left to wonder: why is the office of the Chief Judge afraid to have this case heard in the Osogbo Division of the Federal High Court where it was filed? Why this backdoor manipulation of process by persons unknown to the law.

“Our position is clear: this matter must be returned to the regular Federal High Court in Osogbo. Any application for transfer must be made openly before the regular presiding

Mrs. Zubaida Umar, stated the exercise serves more as a coordination forum — not just a simulation exercise — enabling the relevant agencies present to understand the roles expected of them.

“Don’t forget that after this exercise, we will all return to review the process, and wherever we find lapses, we will work to close the gap.

gesting to reasonable members of the public that he has effectively turned the Federal High Court into an annex of his Chambers.

He has encouraged sacked APC Chairmen and Councillors to embark on reckless judicial adventures, seeking elongation of a tenure they never had. He has even filed a similar application before the Supreme Court,” the party in Osun state argued.

It noted that what the AGF initially sought through his counsel, Olujinmi, was only an expeditious hearing during vacation.

“That was the request. But by 2nd September, the story changed. Suddenly, a transfer directive was issued to a vacation judge, instructing him to

act as a substantive judge, something no party had applied for. This is not a mere technicality. This is a deliberate attempt to erode judicial independence and impose political bias on the courts.

“We, the PDP in Osun State, therefore call on the Honourable Chief Judge of the Federal High Court to immediately probe these irregularities. He must investigate how and why persons, purportedly working in his office, who are not judicial officers, are signing letters that carry the force of judicial authority.We demand accountability. We demand transparency. Above all, we demand respect for the rule of law,” Bisi said.

are the agencies mandated to coordinate protection, care, emergency response, and reintegration for the vulnerable groups.

Speaking on Thursday in Abuja at a media briefing, Chairman of CBIAMEC, Amb. Splendour Agbonkpolor, encouraged that this should not be a temporary or ad-hoc initiative, but a permanent national mechanism enshrined in law, and backed by clear provisions for transparency, accountability, independent audits, and periodic public reporting.

He revealed that according to credible reports, the number of Internally Displaced Persons (IDPs), returnees, asylum seekers, and refugees continue to rise at an alarming rate, and with the populations requiring psychosocial support, economic empowerment, and pathways to rebuild and reintegrate into society beyond immediate relief in the form of food, shelter, clothing, and medical care.

Based on the aforementioned, the chairman stated

that the Fund if established, will include a comprehensive humanitarian support that goes beyond food and shelter, noting that displaced persons require healthcare, education, security, skills training, and livelihood opportunities.

He said it will also provide a holistic support, including reintegration of returnees and refugees into their communities with partnership and Coordination will be provided for by the platform for coordination among federal agencies, state governments, local authorities, development partners, the private sector, and civil society organizations to avoid duplication and ensure maximum impact.

His words, “We therefore strongly call for the creation of a Humanitarian Relief, Recovery, and Reintegration Fund (HRRRF) a dedicated national pool of resources that will enable timely response, ensure proper coordination, and sustain long-term rehabilitation and reintegration efforts for displaced persons across Nigeria.

34

FRIDAY, SEPTEMBER 19, 2025 • THISDAY

NEWS

EMOSIM DIGITAL INNOVATIONS MEDIA BRIEFING...

L-R: Chief Operations Officer, EmoSIM, Aditya Khosla; Founder and Chairman, EmoSIM, Jimmy Eboma; and Global Partnership and Engagement Lead, EmoSIM, Praise Adio, at the EmoSIM Digital Innovations media briefing, Lagos, yesterday

Tributes Pour In for Victims of Afriland Fire, Tinubu, Atiku, Sanwo-Olu, Obi Mourn

on his X handle.

Similarly, in a statement, the Lagos State Governor, Mr Babajide Sanwo-Olu, sympathised with immediate families, organisations and Lagosians who lost their loved ones and goods in Tuesday’s fire outbreak at Afriland Towers, a six-storey commercial building on Broad Street in the Lagos Island area of the State.

The governor who described the fire outbreak as unfortunate, said he was shocked by the ugly incident that claimed the lives of people and the destruction of properties.

Sanwo-Olu commiserated with the management and staff of FIRS and United Capital Plc, a financial and investment services firm, who lost four and six staff members, respectively, in the fire incident.

The Special Adviser to Governor Sanwo-Olu on Media and Publicity, Mr Gboyega Akosile, in a statement, said the Governor, on behalf of the Lagos State Government, genuinely shared their grief.

He said: “The fire incident at Afriland Towers in Broad Street was worrisome and a significant loss to Lagos State Government, the Federal Inland Revenue Service (FIRS), United Capital PLC and other companies and individuals, with property worth millions of Naira destroyed.

“It is with a heavy heart that I received news of the fire outbreak. Our thoughts and prayers are with the families and the management and staff of all the organisations that lost their loved ones in the ugly incident.

I wish the injured persons a speedy recovery” The governor also expressed his deepest sympathies to traders at the Central Plaza, near Mandilas Market who also lost valuable assets and goods worth millions of Naira in the inferno that occurred at their market.

He pledged the government’s continued support for further prevention and arrest of such ugly incidents.

Also, ex-Presidential candidate of the Labour Party (LP), Obi, extended his sympathy and heartfelt prayers to all the families and companies affected

by the tragic fire outbreak at Afriland Tower as well as the traders at Mandilas Market and adjoining plazas along Taiwo Street, Lagos Island, whose stores were engulfed in the fire, describing it as heartbreaking.

“We stand with you in sympathy at such challenging times, praying for the repose of the departed souls and for strength and comfort for their families, colleagues, and loved ones left behind.

“My deepest condolences go to the Chairman and Staff of United Bank for Africa (UBA), Heirs Holdings, Afriland Properties Plc, United Capital Plc, and the Federal Inland Revenue Service (FIRS) who were greatly affected. My heartfelt sympathy also goes to the traders at Mandilas, Lagos Island, and its surrounding plazas, whose shops and properties were consumed by fire.

“I pray that the souls of all who lost their lives in this heartbreaking tragedy find eternal rest and perfect peace. May God restore the livelihoods that were destroyed, strengthen and comfort the bereaved families, and grant swift healing to the injured,” Obi stated on his X handle.

Lagos: Victims Died of Carbon Monoxide Inhalation, Not Fire

Besides, the Lagos State Government yesterday said the inhalation of carbon monoxide from smoke was responsible for the death of seven persons from the fire incident.

The government, disclosed this in a press briefing at Alausa, Ikeja, addressed by the State Commissioner for Information and Strategy, Mr Gbenga Omotoso; Special Adviser to the Governor on Media and Publicity, Akosile; Permanent Secretary, Special Duties, Tunde Ogundeko; Director General of the Lagos State Safety Commission, Lanre Mojola; Permanent Secretary of the Lagos State Emergency Management Agency (LASEMA), Olufemi Oke-Osanyintolu represented

by Director of Operations, Olatunde Akinsanya; Director

Fire and Rescue Service, Mrs Grace Adeseye and Director LASAMBUS, Mrs Beatrice Makinde.

The Lagos State government said that although media reports stated that the death toll had hit 10, the government could only account for seven deaths officially.

Omotoso said: “It is a very sad development for us, and we are very saddened by it, and we pray that may the Almighty condoles the families of those people who died, may they have the strength to be able to go through this very difficult time.

“And talking about the fire itself, there have been so many speculations. And then, so many people have said a lot of things about what happened and what did not happen. But as a government, we do not feel that this is the time to begin to pass a buck. This is not the time to begin to speculate on who did what and who did not do what.

“In Lagos, we take safety of lives as a very, very important aspect of governance because you cannot govern over dead people; you cannot govern over destruction of property.”

He recalled that recently, Sanwo-Olu commissioned about 62 fire vehicles. “Lagos is the only state that can be proud of a fire engine that can go up to 10 storey buildings and more.

And this has been tested in so many areas.”

The Commissioner assured that those who are in hospitals are getting the best of treatment.

He noted: “That is the nature of things in Nigeria. Some have started to make all manner of comments about it without even listening to reports of what happened.”

In his comment, Director of the Safety Commission, Lanre Mojola clarified that the fire incident started at 13:38 and the emergency responders got there at 13:53, saying the team got there on time.

“We had LASEMA, we had Lagos State Fire and Rescue Service, we had the Safety Commission and we had the LASAMBUS, so the full emergency response team

was on ground.

“The fire and rescue team led by the director of fire who was physically on the ground went into the building to confirm where the source of the fire was.

And it was established that the fire started in the basement of this high-rise building. At this basement, there was a pack of batteries that were meant to be for emergency and energy backup in the event that power goes off.

“For reasons that were not established yet, because it’s still a preliminary investigation, these batteries were the cause of the fire and the fire quickly spread through the basement, but the fire service contained it to the basement,” he said.

For her part, Adeseye explained that the building is a sealed building and the smoke spread very quickly to other parts.

“It is very usual for people to panic. We can say categorically that no one died from the fire but from the carbon monoxide,” she noted.

She advised those that have high rise buildings in Lagos to get them registered. “People with high rise buildings should register so that the areas can be tested and certified safe.”

NLC Demands Probe, Enforcement of Workplace Safety Standards

The Nigeria Labour Congress (NLC) has asked the government to carry out an investigation into the tragic fire outbreak that engulfed Afriland Building on Lagos Island.

The labour movement also demanded the mandatory enforcement of workplace and public safety standards in all corporate and commercial buildings, with stiff penalties for violations.

While mourning the loss of lives in the tragic fire outbreak, the labour movement decried the absence of proper safety provisions in most public and private buildings in the country.

In a statement signed by its Acting President, Adewale Adeyanju, NLC said that the fire at the building could have

been put out if only the building had functional hydrants or if the fire service had water in its tank or a ladder that worked.

“These fires are totally not accidents of fate. They are products of systemic rot, institutional negligence, and the reckless disregard for safety rules and human dignity that have become the hallmark of governance in Nigeria.

“What we are witnessing is not merely fire; it is the fire of corruption, the fire of inefficiency, the fire of collapsed institutions, and the fire of state abandonment of its fundamental duty; the protection of lives and property.

“A fire that could have been put out if only the building had functional hydrants or if the fire service had water in its tank or a ladder that worked. We demand mandatory enforcement of workplace and public safety standards in all corporate and commercial buildings, with stiff penalties for violations. “ We also demand immediate and independent investigation into the UBA building fire and the Lagos Island shops, buildings and Warehouses inferno, with public disclosure of findings and accountability for all those whose negligence or complicity enabled the tragedies,” the NLC stated.

NLC called for urgent strengthening of fire services and emergency response agencies at federal, state, and local levels, equipped with modern tools, trained personnel In addition, it urged that adequate compensation should be made for all victims and families of these tragedies, including medical care for the injured and support for traders and workers who have lost livelihoods.

United Capital Mourns Demise of 6 Staff, No UBA Affected

Meanwhile, the United Capital Plc has confirmed the death of six of its staff members in the tragic fire that engulfed Afriland Towers, Victoria Island, Lagos, on Tuesday, September 16, 2025.

This emerged as it was learnt that contrary to some reports,

no staff of UBA which also occupies a space in the building was affected.

Sources attributed this to the bank’s location on the ground floor, which enabled a swift and orderly evacuation. Other occupants of the complex, including Avon Healthcare and Afriland Properties, did not record any casualties.

In all, it was gathered that a total of 10 bodies were recovered from the incident - six from United Capital and four from FIRS. In the United Capital statement, the investment banking group described the incident as a devastating loss, noting that the deceased were not just employees but “an integral part of the United Capital family.”

“It is with profound grief that the Management and Staff of United Capital Plc announce the passing of six of our dear colleagues, following the tragic fire at Afriland Towers. Their painful loss leaves an immeasurable void.

“We extend our deepest condolences to their families, friends, and loved ones, and we are providing all necessary support during this most difficult time,” the company said.

United Capital disclosed that preparations were underway for a memorial service to honour the departed, while also commending emergency services for their swift intervention.

“We are making preparations for an appropriate memorial service to honour their lives and mark their passing with dignity and solemnity. We thank the emergency services and all those who responded for their valiant assistance at the time of the incident.

“In this moment of untold grief, we stand together in solidarity, drawing strength from one another as we navigate this period. May the souls of the departed rest in peace,” the firm stated.

The Chairman of UBA and Heirs Holdings, Tony Elumelu, had in a post on X, described a statement by the bank’s corporate communication’s department on the day of the fire incident as “insensitive.”

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THISDAY • FRIDAY, SEPTEMBER 19, 2025

NEWS

NATIONAL CRISIS RESPONSE SIMULATION EXERCISE...

L-R: Representative of the Department of State Services, Mr. Ugochukwu Abel; Commissioner of Police, Mr. Nnaghe Itam; Director General, National Emergency Management Agency (NEMA), Mrs. Zubaida Umar; Abaga Toni of Kokona Kingdom, Dr. Lawrence Sylvester Ayih; and Director, Presidential Communications, Command and Control Centre, Rear Admiral Emmanuel Nmoyel, during the National Crisis Response Simulation Exercise, “Rapid Response 2”, organised by the Office of the National Security Adviser, held at the Bola Tinubu International Conference Centre, Abuja, yesterday

Fact-Finding C’ttee: Armed Fulani Militias, Herders Responsible for Persistent Killings in Plateau Seriki Adinoyi in Jos Fulani militias and herder groups often from across Nasarawa, Kaduna, Bauchi and Taraba States have been identified as the key aggressors in the attacks and killings that have claimed hundreds of lives in Plateau State in the past two and a half decades.

This was disclosed by a high-powered fact-finding committee constituted by Governor Caleb Mutfwang to unravel the cause of persistent violence and killings in the state.

Chairman of the committee, Major General Rogers Ibe Nicholas (rtd), while submitting the report of the committee to the governor,

said his committee met with various ethnic nationalities and interest groups and visited all the troubled and violence-hit communities to get firsthand information about the violence and how to provide enduring peace in the state.

On who the perpetrators of the violent attacks, Gen. Rogers said, “Communities consistently

identified armed Fulani militias and herder groups, often from across Nasarawa, Kaduna, Bauchi and Taraba States, as key aggressors.

“In other Local Government Areas, particularly in Shendam and Quan’pan, local disputes involving boundary disputes, ethnic rivalries, political competition, and youth militias also

NLNG Wins Best Corporate Training Partner Award 2025

Blessing Ibunge in Port Harcourt

“Since its inception, the OGTAN HCD Awards have celebrated organisations and individuals Oil and Gas Trainers Associa- whose contributions to human tion of Nigeria (OGTAN) has capital development are both awarded Nigeria LNG as the measurable and impactful”.

Announcing the award, Best Corporate Training Partner OGTAN commended NLNG 2025.

In a statement by the NLNG for its consistent investments General Manager, External Rela- in workforce training, tions and Sustainable Develop- partnerships with accredited ment, Sophia Horsfall, disclosed providers, sponsorship of that the award was made at the industry programmes, and 4th edition of OGTAN Human technical education initiatives Capital Development (HCD) delivered through its Corporate Social Responsibility (CSR) Awards held in Lagos.

According to Horsfall, the programmes.

The Association noted that recognition highlights NLNG’s longstanding commitment to NLNG has distinguished itself workforce development, skills as a true partner in capacity transfer, and capacity building building, with evidence of within Nigeria’s oil and gas measurable results.

Receiving the award on behalf industry.

The statement explained that of the company, Emmanuel

Uleh, Head, Nigerian Content Compliance Assurance & Monitor, said NLNG’s commitment to human capital development is both a Nigerian Content obligation and an integral part of its broader CSR agenda, which prioritises education.

“At inception, NLNG deliberately promoted local capacity development by training Nigerian technicians and operators for the operation and maintenance of its plant on Bonny Island. Today, this strategy has yielded remarkable results: NLNG boasts a 100% Nigerian management team and a workforce that is over 95% Nigerian,” he stated.

Uleh highlighted that through strategic partnerships and targeted initiatives, NLNG has empowered thousands of

The Central Bank of Nigeria (CBN) has reiterated its commitment to deepening financial inclusion, strengthening the banking system, and ensuring public understanding of its policies.

The CBN Governor, Mr. Olayemi Cardoso, stated this at the 2025 edition of the CBN

Fair on Thursday in Kaduna.

Cardoso, represented by the Acting Director, Corporate Communications Department of the bank, Mrs. Hakama Ali, said the event was designed to foster public trust, promote policy transparency, and engage citizens in reforms driving Nigeria’s economic recovery.

“This Fair is designed as a platform to interact with

through Wamba, Lafia, and Awe; from Kaduna through Lere, Kaura, and Sanga; from Bauchi through Toro, Tafawa Balewa, Bagoro, and Alkaleri; and from Taraba through Ibi and Karim Lamido. These routes are largely unmonitored and exploited by attackers for quick strikes and retreats.”

Gen. Rogers noted that with 420 communities attacked and nearly 12,000 lives lost, Plateau State cannot afford to treat such atrocities as business as usual, noting that the violence in the state are coordinated, the motives deliberate, and the sequences devastating.

Receiving the report the new Government House, Rayfield, Jos, Governor Mutfwang vowed to implement the recommendations towards achieving lasting peace in the state.

Gov Mbah: Enugu Will Use Coal to Generate 1,000MW of Electricity

additional six aircraft for Enugu Air for the Christmas season. We are obviously going to expand very quickly because we have surpassed our projections within one month of operation.”

The governor added that the state would have four branded hotels by the end of next year.

“If you are expecting three million visitors, hotels will be in huge demand,” he said.

President of NBCC, Mr. Abimbola Olashore, in his welcome address, said the timing of the “Meet The Governor Series” could not have been more fitting because Enugu had become a members of the public on state on the move under Mbah’s the policies of the CBN for administration. sustainable economic growth Olashore stated, “We have and development of Nigeria,” seen bold steps in digital the CBN governor said. governance, in infrastructure The event themed, “Driving expansion, and in creative Alternative Payment Channels public-private partnerships. Each as Tools for Financial Inclusion, of these signals a state that is Growth and Accelerated Eco- not waiting for the future, but nomic Development”, focused on actively shaping it.” digital innovation and financial Meanwhile, the British Deputy access for underserved Nigerians. High Commissioner, Mr. Jonny

CBN Reaffirms Commitment To Financial Inclusion, Economic Recovery John Shiklam in Kaduna

Nigerians with industry-relevant skills, vocational training, and formal education support.

More than 600 Nigerians have received training in Nigeria and South Korea in highly technical areas such as naval architecture, shipbuilding, welding, and fabrication under the Bonny Gas Transport Plus Project.

contributed to violence.

“The committee received a report of disturbances by bandits who are said to have established their cells in two Nasarawa State villages bordering Quan’pan and forcing Plateau communities in Quan’pan to flee.

“In Wase and Kanam, the presence of bandits’ cells with suspected links to extremist organizations was reported. The motives driving these attacks are multiple, ranging from control of land and resources, to territorial expansion, ethnoreligious dominance, political destabilization, and outright criminal profiteering through kidnap-for-ransom and cattle rustling.”

Tracing the routes of infiltration, the committee said, “These porous borders include entry points from Nasarawa Baxter, said the United Kingdom (UK) and Nigeria shared a dynamic, long-standing and multi-dimensional trade relationship that was currently valued at £7.9 billion, the highest figure since records began and which continued to increase every year.

Baxter added that the United Kingdom was currently the biggest investor in Nigeria, accounting for about 65 per cent of all foreign direct investment (FDI) inflows to Nigeria. He described it as a demonstration of the depth of commitment based on historic ties.

The high commissioner stated, “Nigeria is also the United Kingdom’s second largest trading partner in Africa and its largest export market, and in February 2024, we signed something called the Enhanced Trade and Investment Partnership, which is about trying to make trade smoother between our two countries.

“It is the first of its kind that we have signed with an African

country, and, in fact, it is the second globally, the first being with India, and you have seen where the trade relationship between the United Kingdom and India has gone.

“So, we certainly hope for the same sort of trajectory between us and Nigeria.”

Baxter added that UK’s “Developing Countries Trading Scheme” would enable over 90 per cent of Nigeria’s exports to the country to be duty-free.

“All the normal taxes are taken off those items exported from here and imported into the UK. But one of the key obstacles is often standards,” he said, adding that UK is working with Nigerian standards authorities to help Nigerian companies raise the standards.

“This is because once you are meeting British standards, you are meeting European standards, you are meeting American standards, you have got a much bigger market to export to,” he stressed.

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FRIDAY, SEPTEMBER 19, 2025 • THISDAY

NEWS

NEC ENDORSES NASENI’S SOLAR-POWERED IRRIGATION PUMPS FOR ROLLOUT...

Vice President, Kashim Shettima (centre); Executive Vice Chairman/CEO, National Agency for Science and Engineering Infrastructure (NASENI), Khalil Suleiman Halilu; and state governors endorsing NASENI’s Solar Irrigation System during the 152nd meeting of the National Economic Council (NEC), Presidential Villa, Abuja, yesterday

Again, FCT Minister Attacks Tambuwal, Labels Him Consistent Betrayer Blasts Sowore over social media attack on Tinubu Debunks reports of medical trip to London Says he will work for Tinubu, not Jonathan in 2027 Narrates how he was allegedly ordered shot by a GOC

Olawale Ajimotokan and Adedayo Akinwale in Abuja and Nume Ekeghe in Lagos

Minister of the Federal Capital Territory (FCT), Nyesom Wike, yesterday rebuked former Sokoto Governor, Aminu Tambuwal, for accusing him of not being worthy to be trusted with political leadership.

Describing the former Speaker of the House of Representatives as a betrayer and as politically incompetent, he said Tambuwal has been ‘consistently inconsistent.

The former Rivers State Governor spoke last night in

an interview on Channels TV ‘Politics Today’.

“What does he (Tambuwal) know about leadership? Who was Tambuwal in 1999. He was a special assistant to Senator Abdullah Wali. He left. He joined APP or DPP and came back to PDP. He became a speaker.

“He left PDP and went to APC. He left APC by 2017 to join PDP, so he could run for presidential election. Now again, he’s going back to ADC. Now, look at the trajectory. Because of Tambuwal, I had to take the national convention to Port Harcourt. How did he become

governor? It was Wamakko,who was the governor then. When he was leaving a second time, he brought him to be governor.

“In Tambuwal’s second term of 2019, as a sitting governor, it was tough. It was rough. He won with 342 or 346 votes. A sitting governor, second time governor.

It was tough. I appointed the legal team to defend that matter.

I, as your friend then, I’ve always stood for friendship. I’ve always done that. Nobody can challenge me that way,” he stated.

Wike alleged that Tambuwal had his eyes on a Senate role if Abubakar Atiku won the

presidency. He said both men frequently switched political parties for personal gain.

Wike recalled that he lost the presidential ticket to Abubakar Atiku in 2022 because of Tambuwal ‘s betrayal. He said while the former Senate President, Bukola Saraki refused to step down for Atiku, Tambuwal whom he had always stood by stepped down and also directed his delegates to vote for Atiku.

On the speculation that former President Goodluck Jonathan might join the presidential race in 2027 and jeopardizing Tinubu’s chances, Wike wondered why

NCS Launches Automated System to Checkmate Ports Congestion Blessing Ibunge in Port Harcourt

To ensure effective service delivery, the Comptroller-General of Nigeria Customs Service (NCS), Bashir Adeniyi, has disclosed that the Service has launched a fully automated system for overtime cargo clearance to checkmate ports congestion and sharp practices among personnel.

Speaking at a sensitisation programme of critical stakeholders, held at the Port Harcourt Area II Command, Onne, Rivers State, on the ‘Automation of Overtime Cargo and Clearance System’, Adeniyi said the reform would reduce administrative bottlenecks and streamline operations of the service.

Represented by the Comptroller Special Duties, headquarters, Hadiel Hadison,

Adeniyi noted that the initiative was informed by his desire to add value to the national economy, facilitate trade and secure the nation.

He said: “It is very important that you have this background knowledge so that together we can move the system and also add value to the national economy and by extension, also be a part of that element that would secure the nation.

“Gentlemen, it is high time that every aspect of customs operations are automated and that informed the ComptrollerGeneral of Customs’ decision that these aspects of the clearing processes be properly explained to all the stakeholders.”

Speaking also, the Zonal Coordinator of Zone C, ACG Kamal Mohammed, said the intervention demonstrates that

the Nigeria Customs can both serve as a facilitator of trade and integrity.

Mohammed who was represented at the event by the Comptroller in charge of the Onne Command, Aliyu Alkali said: “This initiative marks a turning point in our operations, for years the challenges of congestion, manual paper-

work bottlenecks, abandoned cargo and lengthy clearance process have weighed down trade facilitation and slowed economic activities”.

On the benefit of the initiative, Mohammed stated that the system both engenders transparency and accountability, stressing that the reform is also backed by law.

those calling on him now stood against him (Jonathan) in 2015.

“Those calling Jonathan now, what happened in 2015 that they refused him. These same people were the ones that said Jonathan must never return,” he stated.

Asked if his loyalty won’t be divided between Jonathan and Tinubu, Wike said he didn’t sit with Jonathan to make a promise to support him.

Wike also revealed that he was ordered shot in 2019 as the Governor of River State by a former GOC of the Port Harcourt- based 6 Division, Maj Gen Jamil Sarham (Rtd).

He said Gen Sarham, who was a former Commandant Nigerian Defence Academy (NDA) is now working in the Office of the National Security Adviser.

Wike said the retired officer undertook to carry out the task because his bitter political rival, Rotimi Amaechi, who was the Minister of Transportation under the Buhari Administration promised to make him the next Chief of Army Staff.

Meanwhile, Wike has rebuked political activist, Omoyele Sowore, for calling President Bola Tinubu a criminal on social media, stressing Sowore was lucky that President

Bola Tinubu believes in the rule of law.

He delivered the reproach yesterday at the commissioning of Arterial Role N1 connecting Wuye District with Ring Road 2.

The FCT Minister blasted Sowore, a presidential candidate of African Action Congress (AAC) in the 2023 election, saying no matter how an American citizen criticised President Donald Trump, they would never go on social media to call him a criminal.

He said: “This is a country where somebody on social media will say Mr President is a criminal; nothing will happen.

You say all kinds of things you want to say, nothing will happen.

No matter how you see people criticise Trump, have you ever seen any American citizen on social media, or Sowore in the public, say our President is a criminal? Have you heard that?

“But here, anybody can wake up in the morning and abuse the President, and we are happy. You are lucky you have a President that believes in the rule of law.

You are lucky. Continue to be lucky. There are those you will meet that you won’t be lucky again”.

Continues online

China Calls for Stronger Global Governance, Reaffirms Cooperation with Nigeria

Michael Olugbode in Abuja

China has reiterated its commitment to building a fairer and more inclusive global governance system, pledging closer cooperation with Nigeria and Africa under the newly launched Global Governance Initiative (GGI).

Speaking at a seminar in Abuja organised by the Centre for Contemporary China-Africa Research and the Centre for China Studies, China reaffirmed its commitment to working with Nigeria and other African nations under the Global Development Initiative (GDI).

China described it as a new platform to reform global governance, address historical injustices, and give greater voice to the Global South in institutions like the UN Security Council and international financial systems.

Counselor at the Embassy of the People’s Republic of China

in Nigeria, Mr. Dong Hairong who spoke at the seminar themed: “Opportunities for China-Nigeria Cooperation under GGI”, said the initiative, introduced by President Xi Jinping on September 1, represents “another public good that China has provided to the world.”

FRIday september 19, 2025 • T H i s d ay

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NEWS

IMPROVED COLLABORATION ON THEIR MINDS…

Speaker, Ondo State House of Assembly, Hon. Olamide Oladiji (left), and Commissioner representing South West Zone, National Assembly Service Commission (NASC), Hon Afeez Ipesa-Balogun, during a visit to the state, in Akure…recently

Army Court Sentences Soldier to Death over Murder of Tricycle Rider Seriki AdinoyiinJos

A Nigerian Army General Court Martial sitting at Maxwell Khobe Cantonment, Jos has sentenced Private Lukman Musa to death by hanging for the murder of a tricycle rider, Mr. Abdulrahman Isa in Azere

town, Bauchi State.

The judgment was delivered yesterday by Brigadier General Liafis Bello, President of the 3 Division NigerianArmy General Court Martial, after the court found Musa guilty of culpable homicide and unlawful possession of ammunition.

According to the court, Musa, in connivance with an accomplice identified as Mr. Oba, lured Isa into his residence under the guise of helping him move personal belongings and killed him.

Evidence presented during

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following the declaration of dividends for the first time in more than a decade. The commendation was given at the 20th Annual General Meeting of the bank, held in Lagos yesterday.

The dividend declaration reflects the company’s improved financial performance, which saw significant growth across key indicators between the 2023 and 2024 financial years. Gross earnings rose by 58 per cent, profit before tax (PBT) increased by 40 per cent, and profit after tax(PAT) was up by 36 per cent.

The improved performance has been recorded under the leadership of Mr. Olusola Faleye, whose vision has been to reposition LBIC as Nigeria’s foremost real estate-focused financial institution.

Addressing shareholders at the AGM, the chairman of the company, Mr. Hakeem Ogunniran, noted that LBIC had delivered strong results despite prevailing economic headwinds.

He highlighted that gross earnings rose from N1.608 billion in 2023 to N2.537 billion in 2024, while PBT grew from N829 million to N1.161 billion.

was sold.

The court also found Musa in possession of 34 rounds of 7.62mm special ammunition without lawful authority.

For culpable homicide, contrary to Section 220 of the Penal Code and punishable

under Section 221, Musa was sentenced to death by hanging. On the second count of unlawful possession of ammunition, contrary to Section 8(1) of the Firearms Act, he was sentenced to two years’ imprisonment.

Kogi Decries Disruption of Academic Activities at CUSTECH

Oyewale in LBIC Rebounds, Pays First Ibrahim Lokoja Dividend after 10 Years The leadership and management of Lagos Building Investment Company (LBIC), one of Nigeria’s foremost mortgage financial institutions, have been commended by shareholders and the board

the trial revealed that Musa struck Isa on the head with a wooden object before strangling him to death.

The victim’s body was later stuffed into a sack and dumped between Shira and Yala villages, while his tricycle

Kogi State Government has described the violent protest staged at the Confluence University of Science and Technology (CUSTECH), Osara, by some persons under the banner of the Association

of People Living with Disabilities (PWDs) as baseless and uncalled for.

This was contained in a statement signed by the state Commissioner for Information and Communications, Kingsley Fanwo, and made available to the journalists in Lokoja yesterday.

Fanwo bemoaned the protesters unlawfully locking the university’s main gate, disrupting academic activities, stressing that they attempted to create a false narrative of marginalization in employment opportunities at the institution.

“While we recognise and respect the rights of all citizens, including People Living with Disabilities, it is important to set the records straight. Contrary to their claims, several PWDs have been duly employed by the university in both academic and non-academic roles.

Abducted Former Imo Assembly Member Regains Freedom

Amby UnezeinOwerri

Former lawmaker, Hon Ngozi Ogbu, who represented Okigwe state constituency in Imo State House of Assembly, was allegedly abducted by kidnappers after he visited the gang’s camp to negotiate for peace, so that he could bury a deceased relative without

disturbances.

Gentle the Yahoo and his second-in-command, ‘Angel Make Up’, had earlier released a video parading the lawmaker, threatening to kill him if the Imo State Government did not withdraw security operatives from Okigwe.

However, Ogbu and

over 12 other captives were rescued alive when the Nigerian Army stormed the gang’s camp in Aku, Okigwe.

According to a brief confirmation by the Imo State Police Command, the Command Police Public Relations Officer, Henry Okoye, said: “The

Imo State Police Command has confirmed the release of Hon. Ngozi Ogbu, the former legislator who represented Okigwe state constituency. He was released yesterday night.

The Command is working in synergy with other security agencies to make sure his abductors are apprehended and brought to book.

Lagos Gov’s Wife Launches Measles Rubella Vaccination Campaign Segun James

The wife of the Lagos State Governor, Dr Ibijoke SanwoOlu, yesterday launched the Measles Rubella Vaccination (MRV) campaign, calling on parents, guardians, and community leaders to ensure

that every eligible child is immunised.

Dr. Sanwo-Olu described the campaign as a reflection of the state government’s determination to safeguard the future of children and protect generations yet unborn from preventable

diseases.

She recalled that Governor Babajide Olusola Sanwo-Olu had on August 18, 2025, approved counterpart funding for the campaign, underscoring his unwavering commitment to child health and the strengthening of the

state’s healthcare system.

“This action by the governor is not only a testament to his passion for child health but also a reflection of the state government’s resolve to eliminate preventable diseases,” she said.

Dangote Cement Holds Road Safety Retreat for Drivers Dangote Cement Plc yesterday convened a special retreat for its drivers at the company’s plant in Obajana, Kogi State as part of its commitment to promoting road safety and strengthening best practices in fleet management.

Speaking at the retreat, the Group Managing Director, Dangote Cement Plc, Arvid Pathak, said the retreat provided a practical platform to sensitise drivers on the importance of discipline behind the wheel.

According to the GMD,

the retreat also emphasised company’s core values of safety and responsibility, and featured drivers’ role as frontline ambassadors of the Dangote Cement brand on Nigerian roads.

He noted that the engagement allowed

management to receive first-hand feedback that will guide solutions to issues affecting drivers.

“Your life is very precious, so take care of yourselves. You have families, and your families need you,” he said.

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FRIDAY, SEPTEMBER 19, 2025 • T H I S D AY

BACK PAGE CONTINUATION L ad o j a a n d th e A ll u r e o f I b ada n histo ry by the arrival of Arisekola Alao in his opulent car.

Without hesitation he abandoned his devotions to usher in the dollar dusted visitor, musing that when the answer to one’s prayer has manifestly arrived in human form there is little point in pursuing further supplication. The story, whether apocryphal or literal, is emblematic of a politics in which immediacy — the material, the visible, the present — often outstrips abstract principle.

The enmity between Ladoja and Adedibu soon metastasised into threats of impeachment. Removing a state governor requires a two thirds majority of the State House of Assembly members, and Ladoja opted for a defensive strategy: he retained a sufficient number of legislators to deny Adedibu the supermajority he needed. Ladoja defended the tactic by pointing to precedents elsewhere, notably Chimaroke Nnamani’s defence in Enugu State.

President Obasanjo, however, was unimpressed. To him, a pact with a political “devil” required fidelity; one did not enter into a concordat and then flout Senator Rasheed-Ladoja its terms. When I sought to intercede for Ladoja during those fraught moments — I had known and at Osogbo are difficult to overstate. Nineteenth been friendly with his son, Mutiu — Obasanjo’s century rumour and dread spoke of the Sokoto candour on the impropriety of reneging on political Caliphate’s ambition to “dip the Koran in the Atlantic,” a euphemism for conquering Yoruba bargains was plain.

Two impressions of Ladoja endured for me. First, lands all the way to the Lagos coast. Sir Ahmadu he was not a man who clung to office at all costs. Bello himself recorded that at one time it appeared He was already a self made man long before the credible that the prophecy of the Koran in the sea characteristic murk of Nigerian politics claimed might come to pass. In that context, the martial him. Second, he carried himself with a dignity that response of Ibadan and her allies can be read as suggested his political ambitions were not solely existential — a defence not merely of territory but about personal aggrandisement. Knowing that the of cultural and political autonomy.

And yet, the narrative of Ibadan’s heroism must Olubadan stool is governed by a gerontocratic ladder of ascension — a system of progressive seniority be told alongside its more ambivalent deeds. The among chieftaincy lines — many expected his eventual city’s militarism, emergent from the vacuum left by elevation. His accession now gives him a different Oyo’s collapse, did not always assume heroic forms. kind of power: symbolic, moral, and potentially The Ekiti Parapo war — the most consequential catalytic in a city that still must reconcile the claims intra Yoruba conflict of the mid nineteenth century of modern governance with the pull of tradition. — was sparked by the unruly conduct of Oyo As Olubadan, Ladoja has given voice to a familiar Ibadan emissaries and their agents, the ajele, whose boast: “Without Ibadan, Yoruba Obas would’ve exploitation of Ekiti lands provoked a coalition of become Emirs.” It is an assertion that resonates resistance. Under leaders such as Aare Latosisa, because it invokes a defining moment in Yoruba Ibadan’s emissaries exacted tribute, imposed authority, resilience — the rout of a Fulani incursion at Osogbo and indulged in the venalities of patronage. The in 1840, led in substantial measure by an Ibadan ajele were widely reviled as autocratic, rapacious led Yoruba army. The stakes of a different outcome and hedonistic; their abuses galvanised opposition

from Ijesa, Ekiti, Igbomina, Yagba and Akoko. In short, the same militarism that defended Yorubaland externally too often translated into internal domination and oppression.

Professor Bolanle Awe’s scholarship is instructive here. She traced how the collapse of the Oyo Empire removed a stabilising force that had hitherto guaranteed peace across Yorubaland, and how the subsequent Fulani incursions from Ilorin forced large displacements of people. Refugees and migrants, clustering in new settlements, created new centres of power — Ibadan among them. Some early inhabitants were, according to some accounts, fugitives and exiles; over time the city’s population swelled with immigrants from across the Yoruba world. Such a cosmopolitan base endowed Ibadan with an energy and opportunism that were both constructive and combustible. It was well placed to provide a military check on external aggression, and yet it was ill suited to the sober restraint required to govern a multi ethnic, multi regional polity with equal justice.

History also reveals episodes of accommodation that complicate the heroic image. Baale (later Olubadan) Okunola Abbas Alesinloye, in correspondence with northern rulers, is said to have courted recognition from emirs and to have asserted an Islamic pretension, styling himself in Arabic correspondence as “amir al muslimin” and “baale of all the baales.” Isaac Ogunbiyi and Stefan Reichmuth document these exchanges in Toying with the Caliphate. Whether these overtures were sincere designs for a caliphate or tactical manoeuvres for prestige and alliance is debatable; what matters is that they reveal how Ibadan’s leaders, like other rulers in a period of flux, experimented with multiple sources of legitimacy — martial, religious, and diplomatic.

How then should we remember Ibadan in the nineteenth century history of the Yoruba? The answer is necessarily complex. Ibadan was emergent, improvisatory, and ambiguous in motive and consequence.

Its militarism addressed an urgent dilemma — the vacuum left by Oyo’s fall and the need for a bulwark against external encroachment — but its methods were often heavy handed. The city’s interventions sometimes promised unity and protection, and at other times they inflicted disruption and resentment upon neighbouring communities. The paradox of

Ibadan is that the very energy that made it a defender of Yoruba autonomy could — unchecked — turn it into a new centre of hegemony.

These historical tensions have a modern echo in contemporary Ibadan politics. The godfather networks, the contest between patronage and institutional governance, and the uneasy coexistence of modern state authority with traditional leadership are living continuities of that nineteenth century legacy. The Olubadan stool itself is a symbol of continuity: a reminder that authority in Yoruba public life has always been layered, negotiated and performative.

Senator Ladoja’s elevation thus invites reflection on the balance he might strike between ceremonial dignity and civic responsibility. As Olubadan he can be a custodian of culture, a moral voice in public debate, and a bridge between the old and the new.

He can also — and this is the hope — use his prestige to challenge clientelism, advocate for social justice, and steer Ibadan towards development that honors its history without repeating its excesses.

In the end, the story of Ibadan is instructive for a broader lesson about nationhood. When an imperial centre falls, new formations rise to fill the vacuum. Some respond to danger by providing protection and coherence; others respond by replicating domination. The task for contemporary leaders — whether elected governors or traditional rulers — is to learn from both the virtues and the vices of their predecessors. They must cultivate the capacity to defend and to build, while resisting the temptations of predatory power.

As we welcome Senator Rasheed Ladoja to the Olubadan stool, we should honour the memory of Ibadan’s martial courage at moments like Osogbo, but we should also remember the lessons of Ekiti Parapo and the era of the ajele. We should hope that under his stewardship Ibadan’s proud heritage — its cosmopolitan energy, its cultural riches, and its capacity for leadership — will be celebrated without repeating the excesses of the past. If the past teaches anything, it is that legitimacy comes not just from victory in battle or from the charisma of a godfather, but from the steady, often tedious work of just governance, of protecting the weak, and of binding communities together by the common purpose of the common good

M r . P r e sid e n t, T his I s H o w W e Ca n C r e at e J o b s I n Ni g e r ia

affected sectors were in agriculture, banking and finance; cement; energy, construction and services; hotels and tourism; industry and manufacturing; oil and gas; ports; mines and steel; automobiles; paper and packaging; sugar and telecoms. State governments were also forced to privatise their public enterprises. Imagine how many were there!! The funds realized from privatization were mostly looted and wasted. Workers were retrenched in their millions, and there has been no replacement ever since. Yet graduates are produced in the tens of thousands every year but have nowhere to work. Nigeria needs to urgently raise the profile of its public sector to a competitive productive level of the private sector. If an economic policy prescription has obviously brought more problems than solutions, why can’t we change or modify it? The time to change it is now and the Tinubu government must summon the courage to break off from the discredited recommendations of the Bretton Woods institution. Nigeria should demonstrate the capacity to think for itself.

The big question to ask is what public enterprises are like? What variants of public enterprises exist?

Public enterprises are government owned businesses or those with government participation.

The variants are government departmental undertakings, public statutory corporations, and government owned companies under the companies’ Act. Government owned companies are either owned by government as a majority or minority stakeholder. The negative influence of government is felt mostly in wholly owned companies and where government has majority shareholding. The political influence of government that corrupts public enterprises becomes minimal in companies where government stake holding is in the minority. Shareholders reap dividends based on the proportion they own. NNPCL, for example, has evolved from a public corporation to a wholly government owned government company. But in the Nigeria LNG Limited (NLNG), an incorporated joint venture established in May 1989, government is a minority stakeholder. The

President Bola Tinubu company is owned 49% by the Nigerian National Petroleum Company (NNPC) and the remaining 51% is held by the following international partners: Shell Gas B.V. (25.6%), TotalEnergies (15%), and ENI (10.4%). This ownership structure provides NLNG with access to international expertise, investment, and best practices while ensuring national interest through the participation of the NNPC. The board of the NLNG is independent and effectively makes decisions for the corporation.

The shareholding structure allows the infusion of international standards and expertise into NLNG’s operations. This innovative structure has been hailed as a huge success worldwide.

It is the NLNG type of public enterprises, with home based, corporate, or diasporan Nigerians that is recommended for Nigeria.

A return to public enterprises is important for the healthy growth of the Nigerian economy. The Nigerian economic space is home to investors that can help promote the NLNG type model for job creation and business success. At both the local government, state and federal levels, several investment opportunities exist for business

incubation and success. The Nigerian private sector participants and their corporations exist as a solid block of investors that can partner with government. Nigerians in diaspora provide a second solid alternative as an investor inlet. The local governments, state and federal governments can partner with these participants in birthing enterprises that will create jobs, generate returns and promote a better quality of life for our educated youths. The reasons government ownership and participation are prevalent in other developing economies, is because governments, like in Nigeria, control state resources, have access to qualified personnel, can mobilise capital and reach deep into international development associations for help. A fledgling private sector like the type in Nigeria does not yet have this reach but it will come with time. It must be carefully noted that the public sector built the economies of Britain and the entire European space for over 500 years, from the era of the industrial revolution until many of these enterprises were privatized in the UK in 1986, the same year Nigeria was forced to privatise its public enterprises after

only 26 years of independence. Today, funds that could be used to set up businesses at federal, state, and local government levels are ending up in the private pockets of state governors, as security votes, and in the pockets of local government chairmen, federal ministers and NASS legislators. These billions of naira being embezzled can constructively create jobs in states and LGAs across Nigeria. Kudos must go to Akwa Ibom state for ‘Ibom Air’, Enugu state for ‘Enugu Air’, Edo state for the revamped Edo Line, and Niger state for its agricultural mechanization projects. Several other states must be called upon to demonstrate capacity for other types of ventures.

To set this ball rolling requires a positive pronouncement by the National Economic Council in support of setting up public enterprise joint ventures and/or wholly owned commercial enterprises. Across Nigeria, states enjoy different comparative advantage conferred on them by their natural resource endowments. Businesses can be modeled to exploit these resources for jobs and earnings. Experts exist in Nigeria to undertake feasibility studies to help state governments and local governments executive committees in determining where to invest and what to invest in. The honeymoon period is over.

Article 16 (1)(a) to (d) of the Nigerian constitution identifies the role of government in the economic life of the country. Article 3(b) and (c) define government involvement to include participation in production, distribution, and sale of goods and services. The 1972 and 1977 indigenization decrees (Acts) were designed to specifically create jobs for Nigerians. Government must return to the constitution so that our youths and young graduates can regain their buoyancy. This is the solution to Nigeria’s baffling joblessness. United States President Trump leads the way in national self-preservation by imposing tariffs on imports.

Nigeria must use what it has, to rebuild itself. *Chief Lawson A. Omokhodion, KSM, was Pro-Chancellor/Chairman, Governing Council, Ambrose Alli University, Ekpoma.

39

THISDAY • FRIDAY, SEPTEMBER 19, 2025

FRIdaysports

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

0811 181 3083 SMS ONLY

Tinubu: Nigeria Ready to Host Africa’s First Commonwealth Games in 2030 Deji Elumoye in Abuja

Nigeria took a significant step towards hosting the 2030 Commonwealth Games, as it welcomed the Commonwealth Sport Bid Evaluation Committee to Abuja on Thursday.

President Bola Tinubu, represented by his Chief of Staff, Hon. Femi Gbajabiamila, formally received the delegation at the State House, Abuja.

He reaffirmed Nigeria’s commitment to hosting an inclusive, diverse, and world-class 2030

Commonwealth Games on African soil.

Gbajabiamila, along with a strong federal government team of Ministers and very senior government officials, held strategic talks with the delegation led by Director of Games and Assurance at Commonwealth Sport, and a member of the 2030 Evaluation Commission, Darren Hall.

President Tinubu emphasised that the Commonwealth champions unity and diversity, and Africa deserves its moment after

Hope Rises for Nigeria as FIFA Opens Disciplinary Case against South Africa

nearly a century.

Africa has never hosted the Games since its inception in 1930.

Nigeria made an unsuccessful bid to host the 2014 Games.

The city of Durban in South Africa won the bid to host the 2022 Games, but could not do so due to financial difficulties.

Birmingham in the UK took over and hosted the Games.

Thus, Nigeria’s bid to host the 2030 Games would be historic.

In his welcome remarks, Gbajabiamila called on the visitors to savour Nigeria’s renowned hospitality: “You’re very welcome to Nigeria. I hope

you enjoy our great hospitality, which we are known for. Mr President also asked me personally to convey his regards; he fully supports this bid.

“The President has written a Letter of Guarantee to you; his full weight is behind this bid.

“What I can assure you is that we’re ready. We’re willing, we’re able, and we actually want this. It’s been almost 100 years.

The games have not been held on any soil in Africa. ”The element of inclusivity is what the Commonwealth is, and we hope that will benefit us.”

President Tinubu stressed that his administration has set

some bold reforms to reposition sports, having realised its role as a strategic driver of national development.

He added that he scrapped the Ministry of Sports and replaced it with the National Sports Commission in the bid to drive sports development.

The President further assured the delegation that all infrastructural, security, and hospitality needs will be met ahead of schedule.

He emphasised that Nigeria’s bid is not just about hosting but also leaving a legacy for youth and national development.

Earlier, Chairman of the

National Sports Commission, Shehu Dikko, made a strong case for Nigeria over India, stressing that Africa has 22 Commonwealth nations, and Nigeria, as the continent’s giant, deserves the honour.

CHAMPIONS LEAGUE RESULTS Brugge 4-1 Monaco Co’hagen 2-2 Leverkusen Frankfurt 5-1 Galatasaray Man City 2-0 Napoli Newcastle 1-2 Barcelona Sporting 4-1 Kairat Almaty

W O R L D C U P Q UA L I F I E R S The hopes of the Super Eagles playing at next year’s World Cup have received a major boost after FIFA announced that it has opened disciplinary proceedings against South Africa for fielding an ineligible player in a World Cup qualifier.

FIFA has been shockingly silent on Bafana Bafana featuring Teboho Mokoena in a 2026 World Cup qualifier against Lesotho in March after he already bagged two bookings and ought to have missed the game as stipulated by the rules and regulations of the competition.

South Africa’s Broadcasting Corporation (SABC) reported yesterday that FIFA has now opened disciplinary proceedings against both Bafana Bafana and the player in question.

FIFA communicated SAFA in this respect in a letter dated

September 15, 2025.

Both South Africa and Mokoena have six days to respond to the charges against them.

In the event that they are found culpable, Group C leaders South Africa will lose three points and three goals, while other sanctions like fine and suspension will be further imposed.

Bafana Bafana will thus have 14 points, same as Benin, but enjoy a superior goals’ difference.

They .have +6, while Benin have +4.

Nigeria will remain on 11 points, three points behind both Benin and South Africa.

South Africa will then have to win their final group games against Zimbabwe (away) and Rwanda (at home) to win the group and qualify automatically for the World Cup.

The Commonwealth Games Bid Evaluation Committee led by Darren Hall and the Chairman of the National Sports Commission, Malam Shehu Dikko flanked by top officials of Nigeria’s sports during the committee’s visit to evaluate the country’s readiness to host the 2030 Games ....yesterday in Abuja

Nathaniel Ezekiel Guns for Team Nigeria’s Second Medal in Tokyo Semifinalists Emerge at Zenith/ NBBF Women’s Basketball League Defending champions of the Zenith Bank/NBBF Women’s Basketball League, MFM and three others have secured their places in the semifinal stage of the 2025 season.

MFM defeated Titans 57-32 to make it two wins from three games. MFM lost their first game of the finals against Dolphins.

Earlier on Thursday, Dolphins confirmed the elimination of Customs’ Women Basketball team after thrashing them 79-45 points to make it a flawless group game as they won all their matches. Customs lost all three games.

Royal Aces also made it to the Final Four with a 40-37 win against Bayelsa Blue Whales while First Bank completed the Top Four that will be playing

in the semifinal with the battle for the new prize money of N7.5million becoming hotter.

The semifinal games are expected to take place at the Indoor Sports Hall of the National Stadium, Surulere, Lagos.

According to sponsors, Zenith Bank, they are impressed with the level of competition at this year’s tournament with teams also fighting so hard to be the winner of the renewed and enlarged prize money.

The Group Managing Director (GMD) and CEO of Zenith Bank, Dr Adaora Umeoji (OON), who promised to be physically present during the final, has further reiterated the financial institution’s commitment to supporting sports especially women’s basketball in Nigeria.

Duro Ikhazuagbe

After he ended Nigeria’s 38 years wait to have a compatriot in the final of the men’s 400m hurdles of the World Athletics Championship, Nathaniel Ezekiel, 22, will aim further to become the first to win a championship medal in the event for the country this evening in Tokyo, Japan.

The American Collegiate (NCAA) champion in the event will however have some of the best athletes in the men’s 400m hurdles all lined up this event, waiting the starter’s gun to run for the top honour and the $50,000 prize money at stake.

Ezekiel will have 29-year-old Norwegian, Karsten Warholm; USA’s Rai Benjamin; Brazil’s Alison Dos Santos; Caleb Dean of USA; and Qatar’s duo of Abderrahman Samba and Ismail Doudai

Abakar to contend with in his quest for the precious silverware.

Should Ezekiel succeed in getting to the podium, it will be icing on Team Nigeria’s outing in Tokyo with Tobi Amusan already winning a precious silver in the women’s 100m

hurdles.

Three years ago, Team Nigeria’s contingent returned from the last Championship in Budapest in 2023 with no medal.

Henry Amike is the last Nigerian to run in the final of the men’s 400m hurdles in

Rome , Italy in 1987.

Yesterday, Nigeria’s Udodi Onwuzuruike finished seventh in the semifinal of the men’s 200m. He had the misfortune of running in the semifinal race that had American duo of Noah Lyles and Kenny Bednarek and Jamaican Bryan Levell.

Mati Returns as Nigeria Unveils Squad for 2025 ITTF African Championships Following his last outing at the 2023 ITTF World Championships in Durban, South Africa, Taiwo Mati makes a return to Nigeria’s national team as the Nigeria Table Tennis Federation (NTTF) announces a 10-man squad for the 2025 ITTF African Championships, scheduled to take place in Tunis, Tunisia, from October 12 to 19.

The continental event serves

as a qualifier for the 2026 ITTF World Team Championships in London, United Kingdom—a landmark edition marking the centenary of the World Championships, returning to the city where it all began in 1926.

Mati, who plays professionally in Europe, earned his spot after a strong performance at the 2025 West Regional

Championships, where he finished among the top four, edging out Muiz Adegoke.

He joins a formidable lineup that includes Africa’s top-ranked player, Quadri Aruna; 2019 African Games gold medalist, Olajide Omotayo; two-time West African champion, Matthew Kuti; and rising talent Abdulbasit Abdulfatai.

T H I S D AY • FRIDAY, SEPTEMBER 19, 2025

Price: N400

back page lead photograph

National Economic Council Meeting...

L-R: National Security Adviser to the President, Nuhu Ribadu; Permanent Secretary Ministry of Planning, Economic Affairs and Development, Mr. Sanjay Singh; Minister of Budget and Economic Planning, Abubakar Bagudu; Minister of Finance and Coordinating Minister of the Economy, Wale Edun and Vice President Kashim Shettima during National Economic Council Meeting (NEC) at the Presidential Villa in Abuja..... yesterday PHOTO: GODWIN OMOIGUI

AKINOSUNTOKUN Ladoja and the Allure of Ibadan History DIALOGUE WITH NIGERIA

“Ibadan, a running splash of rust and gold, flung and scattered among seven hills like broken china in the sun” — J. P. Clarke

I

offer my heartfelt goodwill to the new Olubadan, Senator Rasheed Adewolu Ladoja. A former governor of Oyo State and a senator of the Federal Republic, he deserves public recognition as a man who has led a distinctive and accomplished life.

I was privy to the turbulence of his gubernatorial years, and I know that his rise to the Olubadan stool is the culmination of a long arc that has taken him through the rough seas of modern Nigerian politics and back to the anchorage of traditional authority.

He was fortunate in some respects and unfortunate in others — least among them the blessing and curse of having been bound to a powerful political godfather who both elevated and constrained him.

If one were to map the theatrical cast of recent Ibadan politics, Dr. Omololu Olunloyo (of blessed

Senator Rasheed-Ladoja memory) once supplied a neat script. He characterised the triumvirate that for a time steered the city — himself, the late Azeez Arisekola Alao and

akin.osuntokun@thisdaylive.com

Lamidi Adedibu — as the pendulum upon which the city swung. The division of labour, in his laconic summary, was brain (Olunloyo), brawn (Adedibu) and kudi (Arisekola). The image is telling: it captures the functional specialisation of power in Ibadan’s politics — the strategist, the enforcer, and the financier.

As with all theatrical casts, these players had their entrances and exits; the stage moves on. Today, the old triumvirate is largely gone. Who now plays the roles of strategist, strongman and sponsor is less transparent, though Governor Seyi Makinde has emerged as a pre eminent figure in contemporary Ibadan public life, projecting administrative authority and, to some, a degree of autonomy from the old godfather networks.

The Ladoja–Adedibu relationship is a study in the double edged nature of political patronage.

As often happens in Fourth Republic Nigeria, the bargain between godson and godfather collapsed once power was secured. Adedibu, the archetypal

godfather, felt shortchanged: the customary “political service charge” that he believed his station warranted was, in his judgement, insufficient to sustain his clientele politics — what wags called “Amala politics,” a reference to his populist relationship with the grassroots. Adedibu’s most formidable political instrument was not doctrinal persuasion but personality: an earthy profanity that bordered on shamelessness, a capacity to shock and to charm in equal measure. He was, many conceded, an honest rogue — candid, brutal, and entertaining. His self deprecating, diabolical humour found an unlikely admirer in President Olusegun Obasanjo, whose occasional sympathy for Adedibu speaks to the strange affinities of power.

A revealing anecdote captures Adedibu’s priorities with comic finality. While observing the Muslim afternoon prayer one day, Adedibu was interrupted

LawsonOmokhodion

Continued on page 38

guest columnist

Mr. President, This Is How We Can Create Jobs In Nigeria

T

he high rate of youth unemployment in Nigeria has increasingly become a frustrating scandal. Despite the far-reaching reforms the Tinubu government has undertaken in the past two years, we continue to fail in respect of constructive job creation. There are huge funds at every level of government in Nigeria, and enough for job creation initiatives.

The federal government is embarking on trillions of Naira worth of projects, executed by foreign contractors who export the jobs to their home countries. At all levels, our graduates, many of them bright and immediately employable, cannot find jobs and therefore a life of misery and crime becomes their lot. The Nigerian constitution prescribes a mixed economy system, and so both the private and public sectors are constitutionally mandated to be contributors in the production of goods and services. Nigeria has been scammed by the euro-Atlantic biases,

President Bola Tinubu propounded by the Washington consensus group that the public sector is not supposed to be in business. But the experience of several nations has revealed the lie in this belief.

Countries like the United Kingdom up to

1986, France, Thailand, South Korea, Sweden, China, Russia, Indonesia, Malaysia, etc, have used their public sector to facilitate their economic development. With a central federal government, 36 states and 774 local government areas, Nigeria can realistically energize its public sector for job creation. In 1986, the IMF and World Bank convinced Nigeria, under the structural adjustment programme to privatize its public enterprises to avoid waste. The IMF argued that Nigerian public enterprises, most of which had been in business for only 15 years before then, were corrupt, wasteful, inefficient, and poorly managed because Nigerians did not possess the skills to manage them. They therefore had to be privatized, and the private sector should take over thereafter. Even though many of these public enterprises created gainful employment and were both viable and revenue generating, they were sold to military generals, public servants

and the favoured few. Several of these buyers simply stripped the assets of the enterprises they bought and made easy money. However, 39 years since privatization began in Nigeria, the country has remained in an economic conundrum, overwhelmed by debt trap, jobless, with poverty and misery a national culture. It means the IMF and the World Bank, being agents of the western domination agenda, are incompetent and so must be rejected. We must say no to the economic entrapment of Nigeria. It is high time we changed courses and focused on structuring an economy that creates jobs.

In a published report on July 12, 2021, the director-general of the bureau of public enterprises, BPE, announced that between the years 1989 and 2020, a total of 234 public enterprises were privatized and the federal government realized a princely sum of N1 trillion from the exercise. The Continued on page 38

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