Monday 3rd February 2020

Police Constitute Committees on Recruitment for Community Policing State commands await guidelines from IG Our Correspondents Barely one week after the Inspector General of Police, Mr. Mohammed Adamu, directed state police commands to kick-start the

process of the recruitment of special constables nationwide preparatory to the implementation of federal government's community policing policy, many state commands have constituted

screening committees and are awaiting approvals and full guidelines from the Force Headquarters, Abuja.

The IG in a signal had ordered all state Commissioners of Police (CPs),

Assistant Commissioners of Police (ACPs) and Divisional Police Officers (DPOs) to liaise with traditional rulers and community leaders in their domains to screen volunteers between the ages of 21 and 50

who would be engaged after passing the screening tests.

The directive was issued amidst the raging controversy over the setting up of a security outfit, Amotekun,

by South-west governors to

tackle the spike in insecurity in the region.

THISDAY gathered that while some CPs have constituted screening Continued on page 9

Stock Market Investors Gain N1.9tn in January... Page 8 Monday 3 February, 2020 Vol 25. No 9065. Price: N250

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N’Assembly Leadership Meets President This Week over Insecurity Adeboye leads protest as CAN demands overhaul of security architecture Military helmsmen rally retired colleagues on Nigeria’s Unity Kingsley Nwezeh in Abuja, Victor Ogunje in Ado Ekiti and James Sowole in Akure The leadership of the National Assembly is to meet this week with President Muhammadu

Buhari over the tenure of military service chiefs and the rising insecurity in the country, a reliable source told THISDAY yesterday.

Senators and House of Representatives members

had last Wednesday called for the resignation of the service chiefs, failing which the president should remove them over the rising insecurity in the country.

When the president met

with the military chiefs a day after, the nation was told that the request of the legislators was not discussed, indicating disregard for the legislature's concerns.

"I am shocked that they

said our resolution was not discussed," the source, who is in the leadership of the National Assembly said, adding: "We will meet with the president this week over the issue."

According to him, "It is clear that we cannot continue to do the same thing and expect a different result."

There have been widespread Continued on page 9

Buhari Queries Nanono over Fertilizer Import Waivers Cancels licenses, CBN warns banks, forex dealers against violations of fertilizer initiative Ibrahim Mohammed President Muhammadu Buhari has queried the Minister of Agriculture, Alhaji Sabo Nanono, for issuing import wavers to some compa nies to import fertilizer into the country contrary to the presidential fertilizer initiative policy, which focuses on increasing local production capacity for the product.

The query came through the Chief of Staff to the President, Malam Abba Kyari, requesting explanations on the breach of presidential policy.

Nigeria and Morocco had signed a memorandum of understanding in December 2016 to help the former revive its ailing fertilizer industry through the supply of phosphates for local blending.

The MOU, which was Continued on page 9

MARITAL BLISS...

Father of the bride, Mr. Chike Ogeah; his wife, Olufunke; Presiding Pastor, Trinity House, Pastor Ituah Ighodalo; the couple, Mayowa and Uche Awosemo; mother of the groom, Victoria; her husband, Mr. Bayo Awosemo, at the wedding ceremony in Lagos…weekend

Despite Receiving January Salary, ASUU Mobilises for Strike... Page 5

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

Despite Receiving January Salary, ASUU Mobilises for Strike Says no recanting of position on IPPIS Cites govt’s failure to honour previous pacts for looming industrial crisis

Our correspondents Despite receiving their January salary without enrolling into the Integrated Personnel and Payroll Information System (IPPIS), university lecturers under the aegis of the Academic Staff Union of Universities (ASUU) have begun mobilising for a nationwide strike.

THISDAY gathered at the weekend that the union was mobilising for a strike, citing not only the federal government’s threat over IPPIS but the delay in honouring the agreement reached with the union in February 2019.

The federal government had earlier directed that no funds should be released for the payment of salaries of workers of tertiary institutions who had not enrolled into IPPIS as their salaries were supposed to be paid on the IPPIS platform with effect from January.

But ASUU had also threatened to implement “No Salary, No Work” decision it had reached at its National Executive Council (NEC) meeting in Minna, Niger State.

THISDAY had reported exclusively that the Director of IPPIS at the Office of the Accountant General of the Federation (OAGF), Mr. Olusegun Olufehinti, had requested the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, to order the stoppage of release of funds for January salaries of federal universities, polytechnics and colleges of education.

However, in an apparent move to avert the strike, the federal government at the weekend paid the lecturers their January salary.

The payment of the salary was an indication that the federal government might have extended the period of grace for ASUU members to enroll into IPPIS. When contacted by THISDAY to confirm or deny the extension, Olufehinti did not respond to calls or text messages sent to him over the issue.

But the union said it would not back down on the mobilisation of its members for industrial action, adding that its members would not enroll into the central payroll system.

ASUU President, Prof. Biodun Ogunyemi, told THISDAY that the union was looking forward to reopening talks with the federal government on the 2009 agreement on funding of the tertiary institutions.

"We are still discussing with government and we are holding a meeting very soon and it is after that meeting that we can comment on issues about it. It (2009 agreement) is one of our demands, like we said, we are not just talking about IPPIS, we are talking about all issues that are outstanding in our 2009 Memorandum of Action and there are five issues which we are renegotiating before the IPPIS came in as a distraction.

“Renegotiation is one of them; visitation to universities is one of

them, funds for recapitalisation is one of them; the issue of payment of arrears of Earned Allowances for lecturers as well as funding of state universities are all part of the outstanding demands that will be tabled for discussion at the meeting," he stated.

According to the union president, the union has always seen the IPPIS as a distraction because there are more serious issues pending to be addressed by the federal government.

Speaking further on IPPIS, Ogunyemi said that ASUU was insisting on an opportunity to discuss its alternative payment platform, adding that it is left for government to do the needful and call for dialogue.

"If federal government is ready to discuss, we are also ready but we are not to decide for them. Our position remains the same if they choose to stop the salaries of our members tomorrow, we will also respond appropriately," he added.

ASUU Chairman at the University of Jos, Dr. Lazarus Maigoro, told THISDAY in Jos that zonal mobilisation meetings of the union were ongoing nationwide in preparations for the strike.

He added that the Bauchi zone, where UNIJOS belongs, held its mobilisation meeting at the University of Jos last Thursday.

“The mobilisation is not just for the IPPIS; you know we signed a Memorandum of Action (MoA) that led to the suspension of the last strike in February 2019 with timeline on when government will do certain things; but up till now, since that suspension nothing has happened. That is really the essence of the mobilisation.

IPPIS is a later development.

“To be honest with you, they have paid January salaries. I can assure you that if they had stopped our salaries we would have stopped work from today, being 1st of February. But as it stands, there won’t be an immediate strike,” he stated.

He said ASUU wrote to government in December 2019 informing it that it had violated the MoA signed with the union that led to the suspension of the last strike.

“I don’t think we have to notify them again of the strike.

But whether or not we will notify them will be when the date of the commencement of the strike has been decided,” he said.

Also, the branch Chairman of ASUU at the Modibbo Adama University of Technology (MAUTECH), in Yola , Adamawa State, Dr. Sadiq Umar, acknowledged that the federal government did not withhold the salaries of the lecturers as threatened but that government’s backing down on its earlier decision on salary payment would not stop the ongoing nationwide mobilisation for strike as payment of salaries was not the main issue the union was fighting for.

MARCH AGAINST INSECURITY...

General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, leads church members on a prayer walk against killings and insecurity across the country in Lagos...yesterday "I got my alert yesterday and other members who did not key into the IPPIS enrollment programme got theirs likewise.

Salaries are statutory; let salaries not distract the key issues we are fighting for. There are key issues that the union is asking federal government to address and their failure have made the union to start mobilising for strike action," he said Umar said they had gone to Adamawa, Taraba, Gombe states and will be going to Maiduguri, Borno State to mobilise ASUU members for support to force the federal government to address the key issues the union is fighting to achieve before the IPPIS enrollment exercise.

He said the union would take necessary actions after mobilising members nationwide, adding that the union may go into further negotiations with the federal government.

Umar said after the mobilisation, the union will declare its stand on the strike and whether to notify the government or not.

The ASUU Chairman at the University of Maiduguri, Dr. Dani Mamman, also confirmed the mobilisation, saying it has begun across the ASUU branches and would end on February 6.

“The mandate given by National Executive Council (NEC) at Minna was that if government stops our salaries, we will invoke “No pay no work” immediately. The negotiation is ongoing with the Minister of Education, whom the president gave the assignment to handle,” he added.

Chairman of ASUU at the University of Nigeria, Nsukka (UNN), Dr. Christian Opata, told THISDAY that about 15 universities had so far received their salaries for January,

including those who did not enroll into the IPPIS. He said that the union was mobilising itself to educate the public and other union members- who are not awareon the grievances of the union.

According to him, the federal government is only using the IPPIS to divert attention because it knows that there are many problems left unsolved, like the 2009 agreement with the union, which is yet to be negotiated and the Memorandum of Understanding (MoU) of 2017, 2018 and 2019, which are still pending.

“The public does not even know what we are fighting for. The federal government has always painted a different picture and they don’t want to tell people the truth about what is happening in the country,” he said.

He explained that the IPPIS is not even a home-grown programme but one that was copied from World Bank, adding that the software used to drive it is not housed in Nigeria but owned by Oracle, which is an American company.

“What happens if all the database about the Nigerian workforce is under the custody of another country? If anything happens when the website is hacked, that is going to cause a serious problem.

“As it stands now, private universities are planning to join ASUU in the struggle because they have seen what we are fighting for. Some state universities are also planning to join us. That shows how big a problem is,” he said.

The Ibadan Zonal Chairman of ASUU, Dr. Ade Adejumo, also told THISDAY that ASUU members in federal universities started receiving alerts as at Friday.

He added that with the federal government backing

down on the threat to stop salary of its members for not enrolling into IPPIS, the union has also shelved its 'no pay, no work' counter measure.

He, however, stated that the negotiation the union was having with the federal government was not only on IPPIS as there were other issues that might lead to strike.

He identified the issues to include conclusion of the re-negotiation of the 2009 agreement, payment of the mobilisation fund agreed upon and full implementation of the MoU signed with the union in February 2019.

The Chairman of ASUU, Bayero University Kano chapter, Dr. Ibrahim Barde, simply told THISDAY that "I can only tell you that we are awaiting for directives of next like of action".

The ASUU Chairman, Federal University Dutsinma, Katsina State, Mr. Yahaya Muhammed, also told THISDAY that all lecturers in the institution have received their January salaries despite not enrolling into the controversial IPPIS. He, however, stressed that despite the settlement of their January salaries, the union was prepared to tackle the federal government.

"But any moment the federal government refuses to pay our salaries and some of our demands, we will go on strike to press home some of the demands," he said.

The North-west Zonal Chairman of the union, Dr. Shehu Jamilu, also confirmed that all their members received January salaries but that would not make ASUU to recant its position on IPPIS. The Chairman of ASUU at the Obafemi Awolowo University Ile-Ife chapter, Dr. Adeola Egbedokun, confirmed that the lecturers have been paid, adding that the union is

monitoring the situation with the government.

"We are still talking with government on the matter but hope that the situation would be normalised,” he added.

The Chairman of ASUU, University of Ilorin branch, Professor Moyosore Ajao, also told THISDAY that members of the union had received their January salaries.

He added that the union would not enroll into IPPIS, saying that "the federal government knows too that the purported policy of IPPIS being introduced into the public universities is illegal and unconstitutional.

"We are in a democracy now and not in military and no one can just introduce any policy that will be inimical to the growth of education, especially in the university system because it will have serious adverse effect on the educational development of the country."

Ajao urged the federal government to make use of University Transparency Audit System (UTAS), developed by ASUU, instead of IPPIS to resolve the crisis.

The Chairman of ASUU at the Federal University, Oye Ekiti (FUOYE), Dr. Habibat Adubiaro, also told THISDAY that the union would not give any notice before embarking on strike.

"We are always following the directive of the national body before taking actions and they've told us to start the strike immediately they stop our salary. We don't need to give any notice regarding this. Our members were already aware of that. We thought the federal government will not pay our January salary because we refused to join IPPIS, but our salary has been paid,” she added.

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Stock Market Investors Gain N1.9tn in January Goddy Egene Investors in the Nigerian equities market recorded a growth of N1.88 trillion in their wealth in January while the market recorded a turnover of 9.877 billion shares worth N129.626 billion.

Having declined by 14.6 per cent last year, stakeholders were upbeat that the market would recover this year as investors embarked on bargain hunting.

True to expectations, the market started the year on a bullish note with the Nigerian Stock Exchange (NSE) All-Share Index and market capitalisation peaking at 29,710.56 and N15.304 trillion respectively on January 20.

However, the market began to decline in the last week of the month as some investors embarked on profit-taking, coupled with negative reactions

that greeted the mixed earnings reported by some companies in their 2019 full-year interim results.

Despite witnessing five days of negative performance, the market still ended January with a gain of N1.88 trillion as the market capitalisation rose from N12.969 trillion to N14.857 trillion.

On the other hand, the NSE All-Share Index rose by 7.5 per cent, from 26,842.07 to 28,843.53.

The market was also very active as investors traded 9.877 billion shares valued at N129.626 billion in 112,724 deals.

A weekly analysis of the market turnover showed that the second week of the month accounted for the highest trading as investors exchanged 2.683 billion shares worth N32.646 billion in 30,956 deals.

The third week of the

month followed, recording 2.087 billion shares valued at N26.470 billion in 24,262 deals, while investors traded 1.561 billion shares worth N26.073 billion in 21,444 deals in the last week of the month.

The fourth week accounted for N22.762 billion invested in 1.237 billion shares in 21,156 deals just as first week recorded N21.675 billion staked on 2.309 billion shares in 14,906 deals.

Commenting about his expectation from the stock market this year in an interview with THISDAY, the Co-founder, CardinalStone Partners Limited, one of the leading investment banks, Mr. Mohammed Garuba, said: “The stock market will go up this year, largely because

there would be some support.

“Bank stocks would not do very well because of the over-regulation. The real sector would definitely do well.

Investors are getting frustrated, they can’t even get primary bills to buy, even though they have money.”

Also, in their review of the global stock market performance, analysts at Afrinvest (West Africa) said while the market started 2020 positively posting one of the best returns in the first two weeks of the year, the market was unsettled by investors’ reactions to the outbreak of Coronavirus in China and interim earnings reports by companies.

“The outbreak of “Coronavirus” in Wuhan, China and the aggressive pace of infections, with reported cases in over 15 countries, unsettled global markets this week.

“Market reaction was driven by the potentially catastrophic impact the virus could have on global economic activities and company earnings, especially in China.

“Elsewhere, as risks to the global economy remain elevated, central banks in advanced economies maintained a dovish stance in recent meetings,” they said.

The analysts said the downtrend recorded in the last week of the month, would be sustained this week.

“We believe that the market would continue this downtrend, especially as earnings released this week has been largely mixed and insufficient to boost investor confidence,” they added.

Similarly, analysts at Cordros Capital said the negative trend would persist this week.

“In our view, the trend witnessed this(last) week is likely to persist as the dual impacts of the weakening sentiment and mixed-earnings performances during earnings season are expected to pressure market return. Nonetheless, we advise investors to focus on taking positions in fundamentally justified stocks,” they said.

Bandits Kill Seminarian after Three Weeks in Captivity John Shiklam in Kaduna One of the four students of the Catholic Good Shepherd Major Seminary, Kaduna, kidnapped by gunmen about three weeks ago, has been killed by his abductors.

The four students were abducted on January 9, when the bandits invaded the school, located at Kakau, on the dreaded KadunaAbuja road, Chikun Local Government Area of Kaduna State.

The bandits, dressed in military uniforms, shot sporadically upon arrival at the school.

In the wake of their abduction, the state police command had called on all private school proprietors within the state to liaise with the nearest police formation for security advice/coverage and to promptly report incidents or suspicious persons around their environment so as to ensure prompt response of the police and to forestall future occurrence.

However, three of the

students were later released following the payment of an undisclosed amount of money as ransom.

But the fourth seminarian whose name was given as Nnadi Michael, was said to have been murdered by the bandits on a date that could not be confirmed.

The Registrar of the school, Rev. Fr. Joel Usman, who confirmed the killing of Michael in a statement, said: “This is to inform all our friends and well-wishers that the remaining abducted seminarian has been found dead. Thank you very much for your prayerful support. Let us keep praying for Nigeria in great distress. Please let us remain faithful in the Risen Lord. May the soul of our brother, Nnadi Michael and the souls of all the faithful departed rest in peace with the Lord.”

The spokesman of the Kaduna State Police Command, Mr. Yakubu Sabo, could not be reached for reaction as his mobile phone was switched off.

FG, US to Sign Pact on $321m Abacha Loot

Alex Enumah in Abuja

The Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), yesterday departed Nigeria to attend a three-day meeting of the United StatesNigeria Bi-national Commission in Washington DC. Malami at the meeting, is expected to sign a tripartite agreement on behalf of the Federal Republic of Nigeria with the Island of New Jersey and the United States for the repatriation of $321 million ‘Abacha loot’.

The meeting, according to a statement by the Special Assistant on Media and Public Relations to the AttorneyGeneral and Minister of Justice, Dr. Umar Gwandu, is part of the federal government’s efforts to recover more stolen funds stashed abroad.

The statement described the meeting as an annual event between Nigeria and the US aimed at reviewing

bilateral relationship and taking necessary steps to advance mutual interest in all diplomatic areas between the two countries.

According to the minister, the meeting is not an adhoc event for addressing impromptu concerns, but a friendly bi-national meeting that holds annually and devoid of intervening concerns or relating to the internal affairs of the participating states.

Members of the Nigerian government delegation expected to be part of the meeting included Minister of Industry, Trade and Investment, Chief Adeniyi Adebayo; Minister of Defence, Maj. Gen. Bashir Magashi (rtd); Minister of Foreign Affairs, Chief Geoffrey Onyeama; National Security Adviser; Major General Babagana Monguno (rtd); and Minister of Humanitarian Affairs, Disaster Management and Social Development; Ms. Sadiya Faruk.

FRIENDLY VISIT...

L-R: Managing Director, Med-View Airline Plc, Alhaji Muneer Bankole; Chairman, Nigeria Union of Journalists, Lagos State Council, Dr. Qasim Akinreti; and Secretary of the council, Mr. Alfred Odifa, during the NUJ’s visit to Med-View Airline Office, in Ikeja, Lagos…weekend

Lagos Orders Travellers from China to Observe 14 Days’ Self-quarantine Dismisses claims of Coronavirus case in state Martins Ifijeh Following the rate of the spread of the novel Coronavirus outbreak from China, the Lagos State Government has directed all returning travellers from the Asian nation and those exposed to travellers from the country to observe self-quarantine for 14 days on arrival in Lagos.

The state government has also dismissed reports that a case of novel Coronavirus has been recorded in the state, noting that the traveller from China suspected of being infected, has no sign of the virus.

The epidemic has so far killed 305 persons, infected at least 14,628 persons and has now spread to 28 nations with case fatality rate placed at 2.2 per cent.

President Muhammadu Buhari has also extended good wishes to President Xi Jinping and the citizens of the People’s Republic of China over the deadly Coronavirus.

In an advisory issued yesterday by the Commissioner for Health, Lagos State, Prof. Akin Abayomi, the state government said the unsupervised self-quarantine in Lagos was the first step in containing the virus in the state.

Abayomi said: “Selfquarantine is a public health strategy used to separate and isolate individuals who may have been exposed to a communicable disease. This will help us protect individuals who may have been exposed

and the general public.

“During unsupervised self-quarantine, we expect persons concerned to respond to the state advice and act like responsible citizens. You are required to restrict your movement to your home, monitor yourself closely, report any symptoms that may develop to the Ministry of Health on the contact numbers provided and engage in good personal hygiene.”

The commissioner explained that persons observing selfquarantine must stay at home during the period and must avoid workplace, minimise contact with family members, ensure no contact with visitors, refrain from attending or going to public or social functions and must not ride or fly in any mode of public transportation.

“You must monitor yourself closely and diligently during the self-quarantine period to identify if you develop symptoms including, but not limited, to headache, cough, sore throat, fever, chest pain, chills, shortness of breath, breathing difficulties and pneumonia,” he added.

Abayomi stressed the need for citizens observing self-quarantine who develop any of the aforementioned symptoms to immediately contact the Ministry of Health on 08023169485, 08033565529 and 08052817243 for further instructions.

“Novel Corona Virus Infection has an incubation period of five to 14 days.

This means if you have been in China or any other country that is now experiencing Coronavirus transmission from person to person, you may become unwell after a period of five to 14 days of your return.

If you feel unwell or develop symptoms, immediately contact the Ministry of Health on the numbers provided to communicate how you are feeling,” he said.

The commissioner who also dismissed misinformation making the rounds, especially on the social media that a case of novel Coronavirus has been recorded in the state, said Lagos State had no suspected or confirmed cases of Coronavirus infection.

He urged citizens to disregard the misinformation as well as any other information about the virus that did not emanate from his office, the state Ministry of Health, Federal Ministry of Health or the National Centre for Disease Control.

“I would like to reassure Lagosians that our vigilance levels are very high and we are putting more measures in place to safeguard the state.

Through our strategic initiatives with federal authorities, we are putting higher levels of surveillance into effect at all international airports in Nigeria, including Lagos, to ensure that we minimise the threat of entry of any cases of Coronavirus,” Abayomi stated.

Countries so far affected

by Coronavirus are Japan,

Thailand, South Korea, Taiwan, Singapore, Malaysia, Germany, Macau, Australia, Hong Kong, United States, France, Vietnam, Canada, UAE, Italy, Russia, Cambodia, Finland, India, Nepal, Cambodia, Finland, Sri Lanka, Sweden, Phillipine which has had one fatality, and of course China, which has had 304 deaths as at yesterday.

Nigeria Stands with China, Says Buhari Meanwhile, Buhari has extended good wishes to Xi and the citizens of the People’s Republic of China over the deadly Coronavirus.

The Press Officer at the Embassy of China in Nigeria, Sun Saixiong, said in an update yesterday that China had also reported 14,380 confirmed cases of 2019-nCoV, 328 cured, 304 deaths.

The statement added that on the Chinese mainland, the number of confirmed cases climbed to 14,380 as of Saturday at midnight, including 304 deaths, 328 people have been released from hospitals after being cured.

A total of 137,594 people that have had close contact with infected patients are still under medical observation, while 8,044 such people were released from observation on February 1.

The statement noted that a hospital with 1,000-bed capacity built in nine days, was delivered to the military yesterday.

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PAGE NINE BUHARI QUERIES NANONO OVER FERTILIZER IMPORT WAIVERS consummated in 2018 during the visit of Buhari to Morocco, had helped to revive 28 of the country’s comatose companies, which were primed to increase Nigeria’s production capacity to 2.3 million tonnes and engage over 50,000 Nigerians.

The minister, according to THISDAY presidency sources, had issued import licenses to some importers to import fertilizers into the

country purportedly to bridge the shortfall between local production and the demand for the product.

Fearing that the imports might crowd them out and undermine the significant strides achieved in the last three years of the implementation of the presidential initiative and the agreement with Morocco, the local producers were said to have protested to the presidency,

triggering the presidential query to the Agriculture minister.

The presidency, THISDAY learnt, was worried that the minister’s action threatened to undermine the gains made by the 28 local blending companies, including the upcoming Dangote Refinery, which fertilizer subsidiary had been based on the presidential initiative that assured local producers of protection against unfair

import competition.

The president, THISDAY gathered, had directed the minister to cancel the licenses immediately and further directed the Central Bank of Nigeria to ensure strict implementation of the presidential directive.

The CBN, THISDAY learnt last night, had issued a memorandum, directing that no foreign exchange should be made available for the purpose

of funding fertilizer imports, warning that any company that imports the product by any other means would face heavy sanction.

In the memo dated January 30, 2020 and signed by Director, Trade and Exchange Department, Mr. A.S. Jibrin, the apex bank reminded authorised dealers and the general public that the ban on all NPK fertilizers and any other variant remained in force.

“For the avoidance of doubt, NO Authorised Dealer shall henceforth establish Forms M for the importation of these items,” it said, warning: “In view of the foregoing, any Authorised Dealer that establishes Forms M for the importation of all NPK fertilizers and any other variant shall be severely sanctioned, including the Management and staff responsible for the transaction.”

Commissioner of Police, Mr. Awoshola Awotinde, told THISDAY that the command was still awaiting further guidelines from the Force Headquarters, Abuja to commence the recruitment.

Awotinde noted that the command had received signal but it could not go ahead without the guidelines.

“Yes, we have received information or signal on the proposed recruitment of constables into the community policing scheme. The instruction has come, but without guidelines, it cannot thrive. So, we are still waiting for the guidelines so that we can act on them. We are still waiting,” he stated.

He added that before the end of this week, the guidelines would get to the command.

“It is only when we get them that we can know the category of traditional and religious leaders to meet with on this,” he explained.

Also, the Plateau State Police command has said it has not received the signal on recruitment yet.

The state Police Public Relations Officer (PPRO), Mr. Uba Gabriel Ogaba, said: “We have not received the signal yet. When the signal is in the command, we would let the public know about the recruitment. We don’t have details on when recruitment will start and the composition of the screening committee, and the number to be recruited because all of that are supposed to be contained in the signal that we have not yet received.”

The Osun State Police spokesperson, Mrs. Folashade Odoro, also told THISDAY that the command has not received any signal to start recruitment of constable for community policing.

Also, the Oyo State PPRO,

Mr. Gbenga Fadeyi, said the recruitment for community policing would start when all the necessary requirements needed were ready, stressing that the state police command is still awaiting further directives from the police headquarters in Abuja.

Spokesman of the Taraba State Police Command, DSP David Misal, also told THISDAY that the command is yet to set up a screening committee to conduct the recruitment.

According to him, whenever it is put in place, the committee would determine the total number of constables to be recruited for the initiative.

The PPRO for the Ondo State Command, Mr. Femi Joseph, said the command would soon constitute the screening committee that would comprise community leaders since the constable would work in specific communities.

"We are going to involve traditional rulers and community leaders where the constables are going to work. The recruitment would not be done anyhow.

Community leaders must be able to vouch for characters and behaviour of those that would be recruited," Joseph said.

The PPRO said it was the Force Headquarters that would direct the number of constables that would be recruited in each local government and the exact day that the recruitment would start.

Also, the Bauchi State Police PPRO, DSP Jamal Datti Abubakar, told THISDAY that "we are in the process of setting up a committee to implement the state community policing policy".

The Benue State PPRO, DSP Sewuese Anene, also said efforts were being made to constitute a committee for the take-off of the recruitment.

lieutenant colonels/equivalents, nine majors/equivalent, and 16 captains/equivalent and below.

the gimmicks of Boko Haram to create that divide and once that is done of course what happens?

This country will go to pieces so we must be very wary of this.

It is very important”.

POLICE CONSTITUTE COMMITTEES ON RECRUITMENT FOR COMMUNITY POLICING committees and are waiting for approvals and signals on how to proceed with the recruitment process, others are still waiting for the signals from the Force Headquarters on how to go about the recruitment.

Speaking to THISDAY at the weekend, the Police Public Relations Officer for Sokoto State, Deputy Superintendent of Police (DSP), Muhammad Sadiq, said the names of the screening committee for the state had been sent to Abuja for approval.

"We have sent the names to the Force Headquarters for approval. I can't tell you anything for now as we await approval,” he said.

In Katsina State, the state police command also told THISDAY that it has inaugurated the screening committee comprising heads of local government councils, traditional and religious leaders and members of the Police Community Relations Committee (PCRC) for the recruitment.

The state Police Public Relations Officer, Gambo Isah, a Superintendent of Police (SP), said the committee would adhere strictly to Sections 49 and 50 of the Police Act and Regulations while screening applicants for the recruitment.

"We have constituted the committee and forwarded (members’ names) to Abuja as requested by the Office of the Inspector General of Police.

This committee consisted of traditional and religious leaders, state government and some senior police officers from the headquarters, including my humble self.

"Up to now, we have not gotten the official numbers of people to be recruited from Abuja. So, we are waiting for the office of the IG to give us the exact number of persons to

be recruited in Katsina State.

He assured the indigenes of the state of the command's readiness to recruit qualified persons irrespective of religion, tribal or political affiliation as enshrined in the Police Service Act and Regulations.

The Kaduna State Police Command also said it had set up a committee for recruitment of constables for the community policing.

Spokesman of the command, Mr. Yakubu Sabo, told THISDAY in an interview on Saturday in Kaduna that all necessary arrangements had been made and the process would soon commence “possibly by next week or so.”

Sabo said: “Recruitment for community policing will soon start because the IG has directed all commissioners of police to submit the names of members of the committee that will do the screening and recruitment.

“All necessary arrangements have been made; it is just for the process to commence possibly by next week or so.

“The committee has been set up. The number of members of the committee depends on respective states. There are some criteria based on the Police Act and Regulation. States vary based on the number of formations they have. Initially they are saying 40,000 should be recruited, but now we are waiting for further directive for the number to be recruited,” he explained The spokesman of the Adamawa state Police Command, Mr. Suleiman Nguroge, a Deputy Superintendent of Police (DSP), said the command had also constituted a committee saddled with the responsibilities of handling the recruitment but the committee was yet to be approved by the IG. The spokesman said until

the IG’s ratification of the committees in various states, no state police command can make the membership public.

"Once we get approval from the IG, we will declared the committee publicly and they will kick-start the process immediately," he added.

The Anambra State Police Command has also constituted a committee for the recruitment.

The spokesman of the command, SP Haruna Mohammed, confirmed this development to THISDAY. "Yes, the command has set up the committee (for the recruitment of constables) and we are now waiting for guidelines please."

The spokesman of the Nigeria Police Force, Mr. Frank Mbah, a Deputy Commissioner of Police (DCP), declined to comment when contacted to speak on when the full guidelines for the exercise would be sent to the state commands.

But the Kano State Police Command told THISDAY that it had completed preparations for the recruitment of constables.

Spokesman of the command, DSP Abdullahi Kiyawa, said the command had provided a registration portal online through which interested candidates could register.

He added that all necessary details required about the registration could be accessed on the registration portal, but that the command was still waiting for signal from Abuja to commence the recruitment.

The Ekiti State Police Commissioner, Mr. Asuquo Amba, told THISDAY that the village heads across the 16 local government areas of the state had been mandated to constitute committees that would screen all intending candidates for the special police constables.

Amba said the command

would partner communities as well as traditional and religious leaders for the recruitment to get those with impeccable records to constitute the community police.

Amba, who spoke through the Police Public Relations Officer, Mr. Sunday Abutu, added that the recruitment will commence across the 16 local governments soon.

"The recruitment is not going to be done by the police alone.

The village heads in partnership with other stakeholders had been mandated to constitute committees because they are the ones who understand their people and it is what they come out with that the police will work on," he said.

On its part, the Kwara State Police Command has stated that it would soon inaugurate the screening committee that would handle the recruitment.

The command’s PPRO, Mr. Ajayi Okasanmi, told THISDAY that the committee would comprise three first class royal fathers that would represent traditional rulers, three persons from professional bodies, three Area Police Commanders, three local government councils chairmen and other prominent individuals in the state.

Okasanmi stated that the screening committee would assist the police command to get those that would be committed and honest in the discharge of the duties.

On the number of those to be recruited, the PPRO said was uncertain yet, adding: "The Inspector General of Police, Mr. Mohammed Adamu, has hinted that about 400,000 volunteers will be recruited nationwide for the community policing but our command is yet to have the sharing modalities on the number that would come to Kwara State".

However, the Ebonyi State

N'ASSEMBLY LEADERSHIP MEETS PRESIDENT THIS WEEK OVER INSECURITY concerns over the escalating insurgency in the North-east and worsening insecurity in the country in spite of the efforts of the military to rein in the insurgents.

Many policy analysts have argued that the service chiefs appear spent and need to be laid off for new officers with fresh ideas.

Meanwhile, the embattled military service chiefs weekend rallied retired senior officers of Course 27 of the Nigerian Defence Academy (NDA) on national unity, urging them to disregard those fanning embers of disunity in the country.

This is coming as the Defence Headquarters (DHQ) has described the killing of the Chairman of the Christian Association of Nigeria (CAN) in Michika Local Government, Adamawa State, Pastor Lawan Andimi, as a ploy by the insurgents to create a divide between Christians and Muslims in the country.

However, the service chiefs have urged the retired generals to work in harmony towards national cohesion.

Speaking yesterday in Abuja at the 40th Anniversary celebration of the 27th Regular Course of NDA, the Nigerian Army’s Chief of Policy and Plans, Lt. General Lamidi Adeosun, who represented the Chief of Defence

Staff, Chief of Army Staff and other service chiefs, said it was imperative for the retired generals to work together and speak with one voice to promote national unity.

He called for a coordinating centre for all alumni associations of the NDA in order to harness their contribution to national development.

"We cannot work together separately. If we don't lead together, people who have selfish interests will be singing songs of separation.

"Most of your ideas are respected on national security and statecraft. No outsider can love us more than ourselves.

This is a food for thought for all of us.

He stated that "there is no coordinating centre for alumni associations of NDA. Let's look for a way to establish a national platform of the alumni of NDA so that it will serve as a coordinating centre to exchange ideas about this country".

Adeosun, who is of the Course 34th Regular Course of the NDA said in deference to his retired senior colleagues: "I am not supposed to talk when my seniors are talking. I have not seen their backlight not to talk of their break light.

"I am representing the Chief of Army Staff, Chief of Defence Staff and the service chiefs".

He said he had read a lot about the Chairman of the occasion, Major General Zamani Lekwot, who was the commandant of the NDA in 1980 when the Course 27 enrolled in the military institution.

According to him, he met the retired general for the first time at the occasion, which held Saturday night at the Nigerian Defence College, Abuja.

"I have read a lot about Major General Zamani Lekwot (rtd) but I am meeting him for the first time," he said.

In his remarks, Chairman of the occasion and Board of Trustees Chairman of Retired Army, Navy and Air Force Officers Association (RANAO), Lekwot, said retired senior military officers still have a lot to offer the nation.

“RANAO is the in thing.

We offer credible advice to the government in power. We have something to offer the system.

If we put our hands together, the nation will benefit”, he said.

In his remarks, Chairman of the Executive Committee of the 27th Regular Course, Rear Admiral SI Alade (rtd), said in the three-day programme of events marking the 40th anniversary celebration, members donated materials to Kuje Correctional Prison, Nigerian Defence Academy, Defence Police Officers Wives

Association (DEPOWA).

He said the course started in 1980, where 154 members were selected, but 140 reported.

Alade disclosed that not all the 140 passed out, adding that while others have retired, 33 members have passed on.

“With gratitude to God, all course members have since retired with the last man standing taking his exit in 2018.

“We are retired but not tired.

We will continue to contribute our quota to national security,” he said.

On his part, a one-time Director of Military Intelligence, Brig-General Ibrahim Sabo (rtd) urged concerted efforts to stem the tide of insurgency.

“If you have anything to offer to solve the insurgency problem please do so. Some of us bleed from our heart when we see what is going on. We need to come together to help our colleagues”.

Also speaking, a former Military Administrator of Niger State, Brig. Gen. Lawan Gwadabe (rtd), called on the federal government to identify the “source of arms and recruitment” of the insurgents in order to tackle the menace.

The course produced 16 army generals, 12 Navy admirals/ Commodores and 10 officers of Air rank on the course.

The course also produced 21 colonels or its equivalent 19

DHQ: Killing of CAN Chairman, Ploy to Create Religious Divide Meanwhile, the Defence Headquarters has said that the killing of the CAN chairman in Adamawa State was a ploy by terrorist group, Boko Haram, to create a religious divide between Christians and Muslims in the country.

Defence Spokesman, BrigadierGeneral Onyema Nwachukwu, told THISDAY that the terrorists must be seen as enemies of the nation.

“The killing of the CAN chairman is very sad and disheartening. It is a callous act on the part of Boko Haram but we must be very wary of the actions of the terrorists. This is a dangerous strategy to create a division.

“It is devised to create division in this country, to create a religious divide between the Christians and the Muslims. We must be very wary of this as a nation”, he said. Nwachukwu said: “we must see the terrorists as the enemy of the nation and not as a Muslim or as a Christian because this is one of

Continued on page 51

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MONDAY FEBRUARY 3, 2020 ˾ T H I S D AY

NEWS

Suspected Suicide Bomber Arrested at Winners’ Chapel in Kaduna John Shiklam in Kaduna There was panic yesterday among the worshipers at the Living Faith Church, Sabon Tasha area of Kaduna metropolis following the arrest of a man suspected to be a suicide bomber.

The suspected bomber was said to have gained access into the church’s auditorium.

He was said to have been in a possession of a device suspected to be improvised explosive device (IED) in his bag The Chief security Officer of the church, Mr. Ekpenyong Edet

said the suspect was monitored on close-circuit television (CCTV) and subsequently accosted and his bag searched.

According to Edet, the suspect, after beating security check at the entrance got into the auditorium.

“He successfully gained access and was seated before he was suspected and the bag searched, only to find the explosive device,” he said.

Edet, however, added that the suspect had been handed over to the police and moved to the Sabon Tasha Division of the Nigeria Police Force.

Meanwhile, the Kaduna State Police Command has confirmed the arrest of one Nathaniel Samuel caught with Improvised Explosive Devices (IEDs) during church service at Living Faith Church, Sabon Tasha.

The Spokesman of the command, Mr. Yakubu Sabon, in a statement issued last night, said the suspect is currently being interrogated

at the command’s Criminal Investigation Department (CID).

He confirmed that the suspect was arrested by the Police inside Living Faith Church at Sabon Tasha with some suspected Improvised Explosive Devices (IEDs) contained in a bag.

“The suspect is currently being interrogated at the command’s Criminal Investigation Department was said to have left the bag on the

church’s seat and went into a rest room for over an hour.

Efforts are on to apprehend his accomplices”.

The statement assured the “people of Kaduna State of adequate security through the proactive measures recently adopted by the Command recently.”

Sabo said all police officers in the command had been directed by the police

commissioner to intensify surveillance and to liaise with stakeholders within their respective jurisdictions to ensure collective vigilance.

The command also advised management of schools, places of worship, motor parks, markets, recreational centres and other public places to revive the usual checks on vehicles and luggages especially at entrance points.

Surviving Chopper Crash Miraculous, Says Osinbajo Vice President Yemi Osinbajo has described his survival of the February 2, 2019 helicopter crash as an act of miracle.

The vice president yesterday marked the one-year of surviving the 2019 helicopter crash with a thanksgiving service at the Aso Villa Chapel in Abuja.

Osinbajo and 11 other persons had survived the helicopter crash at Kabba, Kogi State, while campaigning for the 2019 general election.

The vice president was joined at the thanksgiving by his wife, Dolapo, family members and his aides, including some of those who were with him during the crash.

Osinbajo, who spoke with State House correspondents after the service, said it was an awesome and incredible deliverance.

“I think what happened on that occasion was so amazing; so miraculous; 12 of us in

a helicopter; the helicopter crashed and not one scratch on anyone of us.

“That’s just incredible; so, we can only continue to thank God and to praise the Lord Jesus Christ for an awesome deliverance of so many of us; so, we just keep thanking God. “That’s why we are here this morning to just praise God. “Can you imagine a situation where you survived a helicopter crash? I think it demonstrates that God is merciful; God is awesome; He is able to do all things.

“I think it just strengthened my faith and the faith of all those who were there,” he said.

On his part, the Chaplain of the Aso Villa Chapel, Rev. Seyi Malomo, said the incident was a miracle for Nigeria.

According to Malomo, it is not just a miracle for the vice president alone; it is for the President and for every Nigerian.

NAMA Threatens to Withdraw Service to Airlines over N5bn Debt Chinedu Eze Nigerian Airspace Management Agency (NAMA) has given a 30-day final ultimatum to debtor airlines and private/ state-owned airports to settle all outstanding debts owed it or it would withdraw its services to them.

The agency, which provides critical services to airlines and airports, said the debts owed it by these organisations is over N5 billion.

If the agency carries out its threat, flights operated by indebted airlines would not be given start up, which means they would suspend operation and if NAMA withdraws its services from the indebted privately owned airports, they would automatically stop operations.

NAMA, in a statement by its spokesman, Khalid Emele, in Lagos yesterday, said the ultimatum given to the airlines and airports would expire on February 28, after which it would suspend services to the debtors.

The agency provides air

traffic control, surveillance, communications services at airports and to the airlines in addition to serving as the channel for weather reports to airlines and other beneficiary organisations.

“The demand notice which expires on the 28th of February, 2020 expects all debtors to settle their indebtedness or risk sanctions. It will be recalled that the affected debtors had earlier been communicated with details of their respective indebtedness but have made no tangible effort to pay,” NAMA said.

It disclosed that NAMA had already notified the debtor private/state-owned airport operators and airlines that effective from the above date “our services will no longer be available for the operation of their airports or airlines as the agency can no longer keep its personnel working at airports without payment.”

The agency also urged the affected debtors to liaise with the commercial department of NAMA for reconciliation and/or clarification within the stipulated grace period.

NEWEST COUPLE ...

L-R: Governor of Ogun State, Prince Dapo Abiodun; his wife, Mrs. Bamidele Abiodun; Groom’s mother, Mrs. Modele Sarafa-Yusuf; newlywed, Abdul Hamid and Aisha Nkechinyere; Bride’s mother, Alhaja Mariam Mansur-Williams, at the wedding walima of Hamid and Aisha in Lagos...yesterday KUNLE OGUNFUYI

Ehanire: Nigeria Has Acquired Capacity to Test Coronavirus The federal government, with the help of World Health Organisation (WHO), has acquired in-country capacity to test for coronavirus, the Minister of Health, Dr. Osagie Ehanire, according to a statement issued by the Head of Media and Public Relations in the ministry, Mrs. Enefaa Bob-Manuel.

Ehanire, who thanked WHO for the support, however, called on those who went to China in the past fortnight to “self-isolate” for at least 14

days to protect their families and communities.

“Such persons who develop fever, cough, sore throat or difficulty in breathing should also report to the nearest hospital for check-up.

“All healthcare workers who receive patients with symptoms like fever, cough, difficulty in breathing are to supply them masks and isolate them.

“They should do so before contacting the Nigeria Centre for Disease Control (NCDC)

on 07032864444.

“Naso pharyngeal or throat swabs are to be collected for testing for Coronavirus at NCDC,’’ he advised.

The minister also advised all persons, who within 14 days of onset of illness had any one of the following exposures, to report to the nearest hospital, namely history of travel to China 14 days prior to onset of symptoms or, close contact with a confirmed case of coronavirus infection or, exposure to a healthcare

facility anywhere, which is associated with coronavirus infection.

Such persons are to come forward to a hospital for testing.

He also said that those with laboratory confirmation of corona 2019nCoV infection, with or without signs and symptoms of illness, should go for test.

There were 7,818 confirmed cases of coronavirus globally as at January 30, 2020, with majority in China.

Army Rewards 37 Officers, Soldiers for Gallantry in North-east Kingsley Nwezeh in Abuja The Nigerian Army has rewarded 37 officers and soldiers of Operation Lafiya Dole (OPLD) in recognition of their gallantry in the ongoing counter insurgency campaign in the North-east.

The Nigerian Army Operations Media Coordinator, Col. Aminu Iliyasu, made the disclosure in a statement issued yesterday in Abuja.

Iliyasu disclosed that 37 officers and soldiers were identified by the military authorities in its periodic assessment of the conduct of troops under the OPLD. He said that the personnel were found to have distinguished themselves on the battle field for outstanding gallantry; professionalism, profound commitment, exemplary conduct and other sterling qualities in the face of the adversary for meritorious

awards.

According to him, while the distinguished officers were to be given Special Letters of Commendation, the soldiers on the other hand would each be granted special promotions to their next higher ranks.

Iliyasu said that: “The rewards are typical of the Nigerian Army’s usual practice of duly recognising unique acts of undeniable gallantry as well as commitment to the service of our fatherland.

“It is meant to inspire their colleagues to always strive for excellence in the discharge of their professional undertakings.

“The Chief of Army Staff (COAS), Lt. Gen. Tukur Buratai on behalf of officers and men of the Nigerian Army congratulates and commends the beneficiary officers and soldiers for their resilience, doggedness and patriotism in the fight against Boko Haram and ISWAP criminals.

“He urged them to keep up with the good work as the Nigerian Army is committed to ending the insurgency and other security challenges confronting the country”.

Iliyasu disclosed that among the officers awarded include two Brigadier Generals, one Colonel, four Lieutenant Colonel, two Majors, five Captains and four Lieutenants.

He added that the soldiers rewarded include two staff Sergeants, six Corporals, three Lance Corporals and 8 private soldiers.

Iliyasu listed the officers to include Brig. Gen. Olufemi Oluyede, Commander 27 Task Force Brigade; Brig. Gen. Ahmadu Mohammed, the immediate past Commander 26 Task Force Brigade Gwoza; and Col. Mohammed Babayo, Commandant Army Super Camp, Benisheik.

Others are Lt. Col. Isah Yusuf, Commanding Officer

158 Task Force Battalion; Lt. Col. Abayomi Biobaku, Commanding Officer 159 Battalion; Lt. Col. Jerry Maigari, Commanding Officer 251 Task Force Battalion and Lt. Col. Tajudeen Lamidi, Commanding Officer 192 Battalion.

Also on the list are: Maj. Michael Ndubuisi, Army Headquarters Strike Group; Maj. Abdullahi Muhammad, 212 Battalion; and Capt. Emeka Chukwu, Headquarters Theatre Command.

“Others are Capt. Audu Kure – 192 Battalion; Capt.

Alhassan Abdulkadir – 192 Battalion; Capt.

Festus Fatunberu – 212 Battalion and Capt. Haruna Dabai – Headquarter 7 Division.

“Also, Lt. Baba Mala, 3 Battalion (Main); Lt. Osazee Asemota, 144 Battalion; Lt. Jeremiah Abomchi, 212 Battalion and L.t Suleiman Kirikpo, 231 Battalion are among the officers rewarded,”

MONDAY FEBRUARY 3, 2020 • T H I S D AY

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MONDAY FEBRUARY 3, 2020 ˾ T H I S D AY

NEWS

House Minority Leadership Crisis: Chinda Expresses Shock over Plot to Suspend Him Adedayo Akinwale in Abuja Leader of the Peoples Democratic Party (PDP) caucus in the House of Representatives, Hon. Kingsley Chinda, said he was surprised at reports making the rounds that the leadership of House of Representatives was plotting to suspend him and three others.

He also urged his three other colleagues: Hon. Chukwuma Onyeama, Hon. Ajibola

Muraino and Hon. Yakubu Barde to brace up for the worst if they are eventually suspended by majority vote in the House.

THISDAY had reported at the weekend that Chinda and other members of his group may be suspended indefinitely by the leadership of the House.

The planned suspension might not be unconnected with the conclusion of an investigation by the House

Committee on Ethics and Privileges.

The House had mandated the committee led by Hon. Kolawole Lawal to investigate the lawmakers for parading themselves as leaders of the PDP caucus in the green chamber.

The decision of the House to investigate the matter was consequent upon the adoption of a motion by Hon. Ben Igbakpa, who alleged

Bring Perpetrators of Plateau killings to Justice, MBF Tells Lalong The Middle Belt Forum has thrown its weight behind the arrest of Fulani Ardos and other community leaders in Bokkos, Riyom and other areas over the latest killings in parts of Plateau State.

The group asked the state Governor, Mr. Simon Lalong to ensure the prosecution of the perpetrators of the attacks in Kwatta village in Bokkos Local Government Area in which 13 persons were killed and many others wounded.

MBF National President, Dr. Bitrus Pogu, in a statement in Abuja yesterday noted that the arrest of the community leaders would open new vistas in understanding the dynamics

behind the mindless bloodshed and destruction.

“We urge Governor Lalong to spare no effort in bringing the perpetrators of these devious murders to justice. When criminals are not brought to account for their dreadful crimes, they get emboldened and continue in their evil to the detriment of peace.

“We are encouraged that the order to arrest Ardos and other community leaders is capable of opening new vistas in understanding the dynamics behind these mindless killings and destruction.”

While commiserating with the people of Plateau State, the forum pointed out that the gory assaults on the local communities had

caused enormous sorrows and cast “dark clouds of frightening uncertainties in the skies” for the besieged populace.

It advised the governor to curb the continuous assault on the people by establishing a security outfit similar to the Western Nigeria Security Network codenamed Operation Amotekun to arrest further deterioration of the security in the state.

“We believe that an outfit such as Amotekun and Join Task Force comprising local vigilante groups and security personnel, as practised in the North East can go a long way in protecting our people from the murderous activities of terrorists and criminal gangs,” the MBF observed.

that the quartet were falsely parading themselves as leaders of his party, thus violating the standing rules and orders of the chambers.

While the report is expected to be laid in the coming weeks by the committee, investigation revealed that the decision to suspend them stemmed from the alleged pressure put on the Speaker, Hon. Femi Gbajabiamila, by interested parties which allegedly included some governors.

Chinda, while reacting to the reports yesterday, however, expressed optimism that the speaker would not succumb to the pressure to suspend him for playing his role as leader

of PDP caucus, adding that he and members of his faction have been discussing with the speaker.

He advised his other colleagues who may likely be suspended along with him to prepare for eventualities, noting that in the event that it happens, the suspension would amount to suppression of individual’s opinion of lawmakers, while also setting a bad precedent.

Chinda said: “We have met with the Speaker and had some frank and amiable discussions.

I’m shocked to hear that this issue is resonating. I don’t think the Speaker will concede to suspending us from the House for signing and asking that the

constitution of the Supreme Court Panel to hear presidential petition should follow the laid down precedent of seniority or speaking on behalf of PDP Caucus of the House. No, the Speaker won’t do that.

“The Speaker won’t even push for suspension of a member from parliament for any reason whatsoever, let alone based on a cooked up, flimsy and hollow reason. The Speaker is very knowledgeable in parliamentary practice and a lawyer, he knows it’s unconstitutional to suspend an elected member and he had stood against it in the past. I don’t think he will change his stand now.

Govs Condemn Plateau Killings, Visit Lalong Seriki Adinoyi in Jos Saddened by the recent killings in Kulben village in Mangu Local Government Area and Kwatas ward in Bokkos Local Government Area of Plateau State, Nigerian Governors’ Forum (NGF) and Northern Governors’ Forum weekend paid a solidarity visit to Governor Simon Lalong to commiserate with him and the entire people of the state.

The delegation led by Kebbi State Governor, Atiku Bagudu,

included Governor of Bauchi State, Bala Mohammed, and Jigawa State Governor, Mohammed Badaru Mohammed, who met Lalong at Government House Rayfield in Jos. They condemned the killings and expressed their willingness to work with him in ensuring that the peace being enjoyed in Plateau was not taken away by criminals.

Bagudu said: “We are here on behalf of the Nigerian Governors’

Forum and the Northern Governors’ Forum which you chair, to commiserate with you and the entire people of the state over this unfortunate incident.

Plateau State has been enjoying peace under your purposeful leadership and we remember that in 2018, both President Muhammadu Buhari and Vice President Yemi Osinbajo were in Plateau State and were pleased with the steps you adopted in ensuring that peace is back to Plateau.

MONDAY FEBRUARY 3, 2020 • T H I S D AY

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T H I S D AY Ëž Ëœ ÍąËœ 2020

COMMENT

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

EUROPEAN UNION, BREXIT AND NIGERIA

The EU is committed to its partnership with Nigeria, write Josep Borrell and Michel Barnier

O

n 31 January 2020, the United Kingdom left the European Union. We lost a member of our family. It was a sad moment for us, for European citizens – and, indeed, for many British citizens.

Nevertheless, we have always respected the sovereign decision of 52% of the British electorate, and we now look forward to starting a new chapter in our relations.

Emotions aside, 1 February turned out to be historic but also undramatic. This is largely thanks to the Withdrawal Agreement that we negotiated with the UK, which enabled us to secure ‘an orderly Brexit’.

One that – at least for now – minimises disruption for our citizens, businesses, public administrations – as well as for our international partners.

Under this agreement, the EU and the UK agreed on a transition period, until the end of 2020 at least, during which the UK will continue to participate in the EU’s Customs Union and Single Market, and to apply EU law, even if it is no longer a Member State. During this period, the UK will also continue to abide by the international agreements of the EU, as we made clear in a note verbale to our international partners.

So, with the transition period in place, there is a degree of continuity. This was not easy given the magnitude of the task. By leaving the Union, the UK automatically, mechanically, legally, leaves hundreds of international agreements concluded by or on behalf of the Union, to the benefit of its Member States, on topics as different as trade, aviation, fisheries or civil nuclear cooperation.

We now have to build a new partnership between the EU and the UK. That work will start in a few weeks, as soon as the EU27 have approved the negotiating mandate proposed by the European Commission, setting out our terms and ambitions for achieving the closest possible partnership with a country which will remain our ally, our partner and our friend.

The EU and the UK are bound by history, by geography, culture, shared values and principles and a strong belief in rules-based multilateralism. Our future partnership will reflect these links and shared beliefs.

We want to go well beyond trade and keep working together on security and defence, areas where the UK has experiences and assets that are best used as part of a common effort. In a world of big challenges and change, of turmoil and transition, we must consult

NIGERIA IS A KEY PARTNER FOR THE EU IN AFRICA. WE ARE FULLY COMMITTED TO STEPPING UP OUR PARTNERSHIP WITH NIGERIA IN MANY AREAS, INCLUDING INCREASING INVESTMENTS AND TRADE IN SUPPORT OF NEW OPPORTUNITIES FOR JOB CREATION

each other and cooperate, bilaterally and in key regional and global fora, such as the United Nations, the World Trade Organization, NATO or the G20.

It is perhaps a clichÊ but the basic truth is that today’s global challenges – from climate change, to cybercrime, terrorism or inequality – require collective responses. The more the UK is able to work in lockstep with the EU and together with partners around the world, the greater our chances of addressing these challenges effectively.

At the very core of the EU project is the idea that we are stronger together; that pooling our resources and initiatives is the best way of achieving common goals. Brexit does not change this, and we will continue to take this project forward as 27.

Together, the 27 Member States will continue to form a single market of 450 million citizens and more than 20 million businesses.

Together, we remain the largest trading bloc in the world.

Together, at 27, we are still the world’s largest development aid donor.

Our partners can be sure that we will stay true to an ambitious, outward-looking agenda – be it on trade and investment, on climate action and digital, on connectivity, on security and counter-terrorism, on human rights and democracy, or on defence and foreign policy.

We will continue to live up to our commitments.

We will continue to stand by the agreements that link us to our international partners. Nigeria is a key partner for the EU in Africa. We are fully committed to stepping up our partnership with Nigeria in many areas, including increasing investments and trade in support of new opportunities for job creation, the fight against terrorism and insecurity, energy, climate change, digital for development, agriculture and migration management, and we will continue to develop multilateral cooperation frameworks around the world.

The European Union will continue to be a partner you can trust. A steadfast defender of rules-based multilateralism, working with our partners to make the world more secure and fair. t#PSSFMM JT UIF &6 )JHI 3FQSFTFOUBUJWF BOE 7JDF 1SFTJEFOU GPS 'PSFJHO "GGBJST BOE 4FDVSJUZ 1PMJDZ XIJMF #BSOJFS JT &6 T )FBE PG 5BTL 'PSDF GPS 3FMBUJPOT XJUI UIF 6OJUFE ,JOHEPN

LOSING TRILLIONS THROUGH PRODUCTION SHARING CONTRACTS canvasses forensic auditing of all PSCs transactions

N

igeria agreed to a deepwater exploration venture with several IOCs to avoid the huge capital required to develop its oil reserves, increase oil production and to leverage on emerging deep drilling technology. This led to the approval of the first set of licenses in 1990. The adoption of the Production Sharing Contracts (PSCs) ensured the avoidance of heavy financial obligations on the part of the government. Essentially, under the PSC agreement, NNPC holds the concession, while the IOCs are the contractors who bear all the exploration risks and do not own any equity in the asset as installations and mineral resources are wholly owned by the government. All equipment and installations purchased by contractors are passed to the country immediately or over time.

Specifically, the two conditions precedent for a review as provided in the Deep Offshore and Inland Basin Production Sharing Contracts Act Cap. D3. LFN 2004 are as follows: Section 16 (1) provides that “the provisions of the Act shall be subject to review to ensure that if the price of crude oil at any time exceeds $20 per barrel, real terms, the share of the Government of the Federation in the additional revenue shall be adjusted under the Production Sharing Contracts to such extent that the Production Sharing Contracts shall be economically beneficial to the Government of the Federation.� Section 16 (2) states that “Notwithstanding the provisions of subsection (1) of this section, the provisions of this Decree shall be liable to review after a period of 15 years from the date of commencement and every five years thereafter�.

Sadly, several years of inaction has led to huge losses primarily due to poor management of the PSCs, in addition to the gross lack of accountability and transparency associated with the extractive industry. The NEITI Policy Brief, Issue 04, March, 2019 captures these disturbing scenarios vividly as follows: “the PSCs ought to have been reviewed first, in 2004 (when real oil prices exceeded $20 per barrel); and secondly on 1st January 2008 (15 years from 1st January 1993)‌The results reveal that if the PSC contracts had been reviewed in 2008, and the fiscal regime from the 2005 PSC licensing round had been applied, additional revenue to the Federation between 2008 and 2017 would have been higher by between $16.03 billion and $28.61 billion.â€? According to Daily Trust Newspapers of 9th November, 2019, “In 2016, Akwa Ibom, Bayelsa and Rivers were in court with the Federal Government, stating that the IOCs operating in the deep offshore were in default in accruals in agreement with provisions in Section 16 (1) of the Deep Offshore & Inland Basin PSC Act, Cap D3 laws of the Federation. This law suit exposed the need to revisit the review of the PSC agreement. It was later determined that the failure to review the PSCs had led to the loss of $60billion or N22 Trillion as expressed by Acting Chairman Revenue Mobilization, Allocation & Fiscal Commission (RMAFC) – Shettima Abba-Gana.â€?

Fortunately, in a revolutionary decision as reported by THISDAY Newspapers of 27th of May, 2019, the Supreme Court of Nigeria on October 17, 2018 delivered what has been considered a landmark judgement in Nigeria’s petroleum fiscal space when it

granted the prayers of the governments of Rivers, Bayelsa and Akwa-Ibom States which had sought relief from the Apex Court against the failure of the federal government to adjust the share of (additional) revenue accruable to the Federation from the PSCs after the price of crude oil exceeded $20 per barrel in real terms. The Supreme Court noted that the IOCs operating in Nigeria’s deep offshore and inland basin are in default of adjusting the revenue accruals in accordance with the provisions of section 16(1) of the Deep Offshore and Inland Basin PSCs Act, Cap D3, Laws of the Federation, 2004�.

All these taken together, it is quite clear that the deployment of forensic accounting and auditing professional skills especially during the early years of the PSC regime would have helped greatly in avoiding the significant losses of revenues suffered over the years in the following ways: Fostering and enhancing control over fiscal regimes and ensuring strict regulatory compliance to financial obligations between the government and any other party, unveiling both the visible and the nonvisible or latent dynamics of financial transactions in a growing complex financial system, identifying immediate red-flags and real-time early warning financial/fiscal defaults or obligations for the government at all levels, and enhancing transparency and accountability in the overall extractive industry, which is considered highly opaque and nocturnal by the general public. –An article published by Natural Resource Governance Institute titled – From Opacity to Transparency: The Challenging Journey of the Nigerian Extractive Industry (November 2017) stated that “Opaque contracts entered into by

NNPC cost Nigeria several billions of dollars.� To put things in perspective, the trillions lost doubles the 2020 budget; triples the cost of the Dangote refinery; will build the proposed 2nd Niger Bridge costed at N220Bn hundred times over; is sufficient enough to build over five Mambila Power Plants and able to fund Nigeria’s infrastructure deficit three times over at $20Bn according to a Bloomberg article published in March 2019.

All these set aside and moving past the losses, the entire extractive industry is due for a complete financial, system and process audit. Reviewing of all outdated financial/fiscal ordinances (acts, laws, by-laws, regulations and policies) to avoid such gross negligence is both timely and necessary. Overall, pursuant to the Supreme Court Judgment, forensic accounting and auditing must be carried out on all process, systems and transactions for the entire PSCs to thoroughly investigate and communicate the true and fair view of the established losses in the interest of all parties. Finally, the Society for Forensic Accounting and Fraud Prevention (SFAFP) wishes to commend President Muhammadu Buhari for accenting the review of the PSCs Act on the 4th day of November, 2019 and the National Assembly for accelerated passing of the bill. This is no doubt by far the most remarkably brave and ambitious step taken by any administration since the commencement of the PSC regime targeted towards fostering transparency and accountability in the oil and gas sector. t(BTIJOCBLJ JT $IBJSNBO 4PDJFUZ GPS 'PSFOTJD "DDPVOUJOH BOE 'SBVE 1SFWFOUJPO

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T H I S D AY Ëž MONDAY, FEBRUARY 3, 2020

EDITORIAL PARADE OF FAKE CERTIFICATES The authorities should ensure that those who hold positions of trust have relevant credentials (NUC) revealed that about 100 fake professors were uncovered in our institutions of higher learning in the course of a screening exercise. The outcome of the veriďŹ cation exercise showed that out of 11,996 certiďŹ cates veriďŹ ed by the commission, according to Rasheed, 721 certiďŹ cates were found to have been forged. Among a recent batch of the National Youth Service Corps (NYSC) members, 95 fake graduates were discovered, 60 of them from Nigerian universities. But it has been discovered that most of the fake certiďŹ cates in the system are from foreign universities and since there is hardly any due diligence, many are never detected.

W

orkers at the Federal Institute of Industrial Research, Oshodi (FIIRO), Lagos, recently staged a protest against the acting Director-General of the Institute, Chima Igwe.

The workers who asked Igwe to produce his PhD certiďŹ cate lamented that the controversy surrounding the academic record of their boss was destroying the name and reputation of FIIRO. A PhD is the minimum qualiďŹ cation for the position. Igwe reportedly did not get his PhD from the Universite d’Abomey-Calavi, Benin Republic in 2001 as he claims because he is yet to defend his thesis. The Independent Corrupt Practices Commission (ICPC) has waded into the controversy.

While we call on the authorities to speed up its investigation into what has become pervasive in every sector, it is quite worrisome that many top decision makers in our public services may have conned their way into critical THE MENACE IS AIDED positions without the qualiďŹ cations they

BY THE ABSENCE OF A claim. The greater RELIABLE DATABASE, CORRUPT GOVERNMENT challenge is that this fraud is pervasive in OFFICIALS AND all sectors and across DISHONEST TERTIARY different strata of our INSTITUTIONS’ society. From seeking admission to applying PERSONNEL for jobs, the list of those who parade forged certiďŹ cates and fake degrees in Nigeria today is long and disturbing. This menace is aided by the absence of a reliable database, corrupt government ofďŹ cials and dishonest tertiary institutions’ personnel. There are so many criminals who parade chains of degrees in medicine, who put the lives of Nigerians at risk on a daily basis and there are others who teach in our universities even without possessing a genuine ďŹ rst degree.

Last year, Prof. Abubakar Adamu Rasheed, Executive Secretary of the National Universities Commission

Letters to the Editor

A

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

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

he challenge of fake certiďŹ cates is not limited to job applicants; it has spread to the National Assembly and even the Judiciary Service commission. In fact, it would seem that making dubious claims, including faking credentials, seems to be the route to power in the country today. A serving senator recently had his election nulliďŹ ed by both High Court and Appeal Court over fake certiďŹ cate. Hundreds of other political leaders make dubious academic claims that are never veriďŹ ed.

What makes the situation more worrisome is the manner in which fraudsters now con their way into critical institutions with these credentials. According to veriďŹ able documents from the ICPC, six government agencies to wit: National Security Defence Corps, Nigeria Immigration Service, Nigerian Correctional Service, Pension Transition Arrangement Department, Federal Fire Service and National Identity Management Commission are said to have cases of persons gaining employment with fake credentials. In the police, armed forces, academia, ministries and government agencies and of course politics, fake credentials are now paraded by many for jobs they are not qualiďŹ ed to undertake.

There is hardly any professional ďŹ eld today where these fraudsters have not invaded. We call on the regulatory authorities, including of professional bodies, to put in place measures that will checkmate the antics of these fraudsters. We also call on the authorities to put in place mechanism to ensure that those who hold positions of trust possess the credentials they claim.

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

A MICROECONOMIC OUTLOOK OF THE NEW FINANCE ACT

major fiscal policy direction was recently marked by Nigeria’s President signing of the 2019 Finance Bill into Law, a month after putting assent to the 2020 national appropriation bill, both submitted to National Assembly as executive bills in October 2019. The new financial legislation is technically known as the Nigerian Tax and Fiscal Law (Amendment) Act 2019, because it comprises of about 90 amendments to seven primary acts relating to taxation.

A highlight of the fiscal provisions of the act relevant to small business enterprises include an increased Value Added Tax rate of 7.5%, a 0% Company Income Tax rate for small-sized companies, a lowered rate of 20% for medium-sized companies, a new requirement for Tax Identification Number to open and operate a business bank account, and an increased threshold of N10,000 for electronic bank transfers liable to stamp duty charge of N50. Essentially, the finance act will structurally define a new fiscal outlook at the microeconomic level of the national economy.

Prior to its passing, Nigeria’s Finance Minister had rationalized drafting the finance legislation and pairing it with the 2020 national appropriation bill as a move to shoring up government’s revenue base, by realizing available revenue potential.

Besides, the government stressed that the two bills aimed to accelerate its plan to pull a proverbial 100 million Nigerians across the World Bank-designated poverty line.

The increment of VAT for business transactions from 5% to 7.5% will arguably have the biggest economic impact on microeconomic agents of the local economy, from households to firms as well as other microeconomic variables. It will automatically give rise to a hike in the gross value of goods and services, as businesses pass the new tax burden down to buyers, through inflated invoices across different stages of production and distribution. Among the ultimate taxpayers, households with low income will have their purchasing power adversely impacted. People will pay more for the same commodities they had paid a lower price tag in the past. As one of the drivers of price growth, the raised VAT rate will have direct impact on headline inflation across markets in the short run.

In the long run, the multiplier effect of the new VAT regime will also affect the smooth operation of small businesses which would struggle to maintain price stability, by resisting the inflationary pressure of adding VAT deduction to every transaction. It’s an open secret in taxation that micro, small and medium enterprises tend to perform poorly in terms of adherence to the guidelines for VAT billing and remittance, within their

semi-formalized modes of transactions.

Nigeria’s Federal Inland Revenue Service as the designated authority for VAT collection may have to grapple with high rate of noncompliance by small private firms. Hence, while tax authorities push for expansion of VAT coverage across informal markets, this newly approved VAT rate will potentially translate to a serious operational hurdle for MSMEs in general.

The new Finance Act effectively puts an end to regressive taxation on company income tax rates, by providing for a sweeping change to the annual percentage of tax rate payable by incorporated companies against profit earned. Small businesses with an annual turnover of less than N25 million are now exempted from company income tax, while a lowered CIT rate of 20% is now the approved rate demanded of mediumsized companies with annual turnover of between 25 and 100 million naira.

Aside promoting fiscal equity between different scales of business ventures, the new CIT legislation will stimulate growth for small businesses, and encourage greater corporate governance by potentially co-opting corporate outliers. The lower benchmark for stamp duty charges on cash deposits into company accounts will reduce operational costs of MSMEs and enhance their propensity to incorporate. Over the years, Business Development Service Providers dealing

with MSMEs have reported bank account statements and tax clearance among the common missing credentials in the eligibility checklist, for existing companies applying to access financial incentives from development finance institutions like the Bank of Industry and NIPC. A O% CIT will thus be a direct impetus for small business entities toward incorporation and opening business accounts with banks. Additionally, this single tax incentive for small businesses would further attract favorable rating for Nigeria in the global Ease of Doing Business ranking.

On the other hand, the new downward review of charges for electronic banking transactions now requires deposit money banks to commence the application of stamp duty charges for electronic (WEB & POS) funds transfers to business accounts, only from deposit amount of N10,000. This would likely curtail the reported slump in the use of POS and online transfer by MSMEs, and thus boost financial inclusion, and the CBN cash-less policy.

With the new finance act taking full effect, government and the CBN must work toward smooth implementation without creating excess burden on the financial industry and hampering MSMEs growth, and startups mortality. t.B[IVO *ESJT JT B 'FMMPX JO 3FTJEFODF BU *#: $PSQPSBUF 4PMVUJPOT -UE

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T H I S D AY ˾ MONDAY FEBRUARY 3, 2020

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

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

Costly War Without End Nseobong Okon-Ekong and Kingsley Nwezeh write that the 10-year insurgency war in the North-east of Nigeria has become intractable due a convergence of business interests from virtually all the stakeholders

Buhari

Lawan

Gbajabiamila

Ibas

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T H I S D AY ˾ MONDAY FEBRUARY 3, 2020

MONDAY DISCOURSE

Abubakar

Adamu

Buratai

Abaribe

varies based on the level of security required by the individual state.

The Nigerian Air Force (NAF) has admitted that its planes consumed an average of 1.9 million litres of aviation fuel each month to fight and prosecute insurgency in the North-East.

The Chief of the Air Staff (CAS), Sadiq Abubakar, an Air Marshal, made the disclosure at the NAF Logistics Seminar in Lagos.

The seminar was tagged, ‘Repositioning NAF logistics for Efficient Employment of Air Power in response to Contemporary National Security Imperatives.’ He said, “The main fighter air plane we use consumes 2500 liters/ hour and we fly at least two air planes at a time. At that consumption rate, the two consume 5000 liters every hour and we run two missions. So, we are talking of about 10,000 liters just for one aircraft time. We have so many other airplanes like the Alpha jets which consume 2400 liters/hour. They also fly in formation and that means about 4800 liters. There are other air planes that fly on daily basis.”

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, an indigene of Borno State, declared recently that systemic corruption is prolonging the war against insurgency.

“You can’t separate the growing insecurity from corruption. The surest path to peace in our country is to take care of the menace of corruption. If we succeed in stemming corruption, we will berth a working system,” he said.

the North-east. I don’t know why an NGO will open more than 40 bank accounts.

“We are going to ask your various banks to give us statements of accounts for each and every NGO. “The issue of money laundering, terrorist financing and leakage of information will be eliminated by the commission with the help of bankers across the country.”

Funding Insurgency: N6trillion Budget in 13 years In the 2018 Budget, the military proposed N38 billion for the purchase of ammunition, jet fighters, armoured tanks, landing ships, patrol vehicles and boats among others.

Going by the record of appropriations since 2008, a total of N6 trillion was expended on the military by the end of 2018 fiscal year.

A significant part of this budget was concentrated on the war against insurgency.

The huge defence allocation represents 10.51 per cent of the N58.001 trillion appropriated in the past 11 years.

The sum of N2.945 trillion or 40 per cent nearly half of the budget was spent between 2012 and 2014.

Additionally, President Muhammadu Buhari spent N2.5 trillion or more of the 11 years defence budget since coming to power in 2015.

Between 2008 and 2017, the Ministry of Defence budgeted N191.5billion in 2008, N223.1billion in 2009, N232.3billion in 2010, N348.3 billion in 2011and N332.2 in 2012.

The defence budget in 2013 stood at N364.4billion; 2014, N349.7; 2015, N273.8;

2015, N375.5; 2016, N443.1; 2017, N465.5 billion; 2018, N567 billion; 2019, N435,62 billion and N878,458,607,427 in 2020 (military/ intelligence agencies), the second highest budget of the year.

The budgets cover personnel, overhead, recurrent and capital votes.

Capital budget within the period under review was also on the increase from 2008 to 2020: N46.8, N39.4, N38.2, N35.9, N64, N35.4, N36.7, N130.9, N140, N145 and N99,869,263,767 billion.

There was also an increase in the recurrent expenditure within the same period, an indication of resources expended on procurement of arms and recruitment of more personnel within the period.

people. We want our people to have access to hospitals and schools.

“They were inaugurated on May 8, 2019.

From 8th May to now, N10billion was released to them and subsequently, N26bn was also released in the 2019 budget. So if you add N10billion to N26billion that is N36billion”.

Banks/NGOs Magu also berated banks for allowing terror sponsors to use the banks as a conduit for channeling funds for their nefarious activities. He said the commission would come down hard on bankers who collaborate with terror sponsors.

In a renewed bid to track the movement of laundered funds in the banking system used to finance terrorism, the EFCC recently declared that it would commence an investigation into the financial dealings of some Non-Governmental Organisations (NGOs) operating the North-east.

A military source had recently raised posers about the upfront payment of hotel accommodation for upwards of 10 years by some NGOs operating in Borno State, making it difficult for travelers to secure accommodation in Maiduguri, Borno State capital.

The source had also questioned the genuine desire on the part of the organisations to see the end of the insurgency.

Speaking at a meeting with banks’ compliance officers in Maiduguri, Chairman of EFCC, Ibrahim Magu, queried the rationale behind a single NGO keeping 40 bank accounts.

He warned that banks should comply with the Money Laundering Act by reporting to the anti-graft agency, any person or persons moving cash above the allowed threshold.

“Nobody should carry cash above the threshold of N10 million for corporate organisations and N5 million for individuals.

Anything above the threshold must be routed through financial institutions,” he said.

Magu said EFCC would soon commence the profiling of Non-Governmental Organisations with a view to monitoring their financial activities.

He said, “We must profile all the NGOs in

North East Development Commission An interventionist agency, North East Development Commission (NEDC) was given a take-off grant of N55 billion in May 2019. So far, N36 billion was deposited in the account of the commission.

The Secretary General of the North-East Development Association, Abubakar Bitako, said recently that the people of the North-east were not feeling the impact of the commission.

“We want to see things taking place. We want to see the NEDC helping the people.

We don’t have only Boko Haram problem in the North-East. We have farmers and herders’ clashes mostly in Adamawa and Taraba states.

“We want to see foodstuffs shared to the people. We want bedding provided for our

UN/Donor Agencies The United Nations has also recently granted a $9 million to help fund thousands of displaced people in the North-east. The fund includes $2 million in support of UN humanitarian air service for frontline responders in the region.

There are also contributions from many NGOs operating in that area.

Another agency known as the North East Nigeria Recovery and Peace Building Assessment (RPBA) announced that the impact of the conflict in the region cost $9 billion. The team also said it would need $6 billion to perform recovery efforts in the crisis torn area.

Dr. Mariam Masha, Senior Special Assistant to the President on Internally Displaced Persons (IDPs), named Borno State as having the worse loss estimated at $6 billion.

She said damage to housing in the region could be as much as $3 billion, not counting damages to livestock. Next in the ranking of devastation, in the estimation of the RPBA are Yobe and Adamawa states. According to her, at least, 20,000 lives have been lost, while no less than 1.8 million people were displaced by the Boko Haram insurgency.

BREAKING DOWN THE BIG DATA

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08038901925

Controversy around Tarkwa Bay Eviction Chiemelie Ezeobi and Sunday Ehigiator report that while civil society and non governmental organisations condemn the recent eviction of Tarkwa Bay residents, the taskforce and Lagos State government have cited the huge scale pipeline vandalism and crude oil theft in the island as valid reasons for the eviction

Some of the many crudely dug wells used to store vandalised products by the residents

Some of the residents conveying their properties out of Tarkwa Bay

T

he joint task force against pipeline vandalism and crude oil theft, comprising the Nigerian Navy, Nigerian Army, Nigerian AirForce, police and even the Nigeria Security and Civil Defence Corps (NSCDC), recently drew the ire of civil society and non governmental organisations, including human rights body, Amnesty International, for evicting the residents of Tarkwa Bay, one of the many islands that dot Lagos.

Eviction On January 21, 2020, residents of Tarkwa Bay, a waterfront community near the Lagos harbour, were evicted by security operatives and their make shift homes demolished. Purportedly housing about 10,000 people, the residents lamented that they were given chase by bulldozers, which afterwards demolished their homes in minutes.

While the operatives maintained that the residents had been given three months notice, the latter claimed otherwise.

According to some of them, they were given hours to pack, which necessitated some of them leaving their belongings behind as they fled to safety. Some of them told THISDAY that they loaded true belongings, the much they could, into their boats and sailed around hoping that it was a dream.

Refuge at Inner Islands As the ultimatum issued by the military to the evicted residents to evacuate all their belongings from Tarkwa-Bay Island elapsed by 2pm of Friday, January 24, 2020, majority of the residents of the Island took refuge at other inner Islands, away from Tarkwa-Bay. THISDAY who was on the Island to observe the situation of things at the expiration of the ultimatum, gathered that most of the residents had taken refuge majorly at inner islands that dot Tarkwa Bay. Some of these islands include Manager Island, Sam Okoji Island, and New Village Island, which are inner Islands to Tarkwa Bay Island.

In a journey that took about 30 minutes on water before arriving the Island, THISDAY also observed that the residents were ferrying their properties to other locations. Some who spoke on anonymity said others who decided not to move with them, left for Apapa and some Ikorodu, while there were yet others who went to squat with relations in different parts of the state.

Accusations of Pipeline Vandalism On what could be the cause of the eviction, THISDAY gathered from a top authority, who spoke off-records, that the Island dwellers were notorious for oil bunkering, and pipeline vandalism.

"They went as far as not just vandalis-

FOC WNC, Rear Admiral Oladele Daji and others inspecting one of the well dug by the vandals

ing pipelines which was passed across the island, they connected pipes to the pipeline and channeled it to their respective homes. From their homes, they had specific taps where they fetch fuel from as if they were fetching water. They then would load the jerrycans filled with fuel to black markets and sell.

"This act has been ongoing for years.

But eventually, the government has finally decided to arrest the situation after another act of vandalism recent discovered again, and the whole world are showing sympathy to them without bothering to ask what they have done."

To give credence to the accusation, at Tarkwa Bay, manholes filled with vandalised PMS littered the white sands.

It was further gathered that prior to digging the manholes, the vandals first vandalised one of the pipelines belonging to the Nigerian National Petroleum Corporation (NNPC). With the products from the vandalised pipelines seeping into the ground, it then runs into the already laid pipes underground to dug manholes, which acts as a crude storage, before the vandals scoop it into jerrycans for onward transportation to the end buyers.

During the operation at Tarkwa Bay, the taskforce also destroyed illegal structures on the pipeline’s right of way that were constructed by the vandals to enable them easily access the manholes. Since

that operation, the JTF has carried out more raids, discovered more illegal holes and destroyed more shanties.

Taskforce’s Stance Reacting to the hullabaloo the eviction of the residents caused, the Flag Officer Commanding (FOC), Western Naval Command, Rear Admiral Oladele Daji, who also doubles as the Operational Command Officer for Operation AWATSE, an internal security operation covering Lagos and Ogun States to specifically combat scourge of pipeline vandalism and oil theft, said the accusation of illegality against the taskforce was an attempt to blackmail them.

He said: “There has been some attempt by some criminally minded individuals to blackmail Operation AWATSE in the efforts to clear the NNPC rights of way of all illegal structures as directed by the Chief of Defence Staff. We feel the need to let the world know the kind of criminalities that are taking place around the NNPC pipeline right of way, and also at the strategic storage facility of the NNPC, so that the world and good people of this country can judge by themselves. “While Operation KURONBE, which is the ongoing operation, is different, after we face where we are now, we are entering the stabilisation phase, and that is to ensure sustenance of adequate

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Some of the residents evicted from Tarkwa Bay

Their possessions

Part of their possessions

Some of the seized products by the taskforce

presence; both at the waterfronts and also on the Island, so it would make it difficult for these criminal elements to gain a foothold on the Island. “And I want to say that never again will we allow them to perpetuate the kind of economic sabotage that they are perpetuating in this area. Contrary to the news circulating, we are not dislodging them from the Island. If you come here, you will see beautiful beach houses, private homes that are built that are contributing to tourism, economy, and even legitimate means of employment for so many Nigerians. “It's just the few criminal elements that have thousands of jerricans stored in their backyards, that have wells dug in their compounds and concealed that are going to be removed from the entire Island.

The good and law-abiding citizens were advised to encouraged to go about their lawful businesses without any form of harassment and intimidation. “And that is part of the rules of engagement and also the standard operating procedure for Operation KURONBE, and we sustained that and we ensured that even in the process of evicting the economic saboteurs, human rights would be upheld. “You see, if one finger is dipped into oil, it's likely to spoil other fingers. And while those presumably innocent saw all the activities that were going on, and partook in it, and refused to report to the appropriate government agencies, they are part and parcel of it. “And that is what we don't want to experience again; like the case of pipeline explosion at Abule-Egba. Innocent lives were lost. We don't want to lose any innocent lives in this country because of the conspiracy and silence of a few people. And mind you, we gave them three months notice before embarking on this operation. The physical evidence that we have on the ground suggests that most of these criminally minded people are citizens of Ghana, Togo and

Cameron.�

Full Backing by LASG Despite the backlash by civil society organisations and non government organisations, the Lagos State government has said it is solidly behind the actions of the taskforce given the huge scale of economic sabotage being carried out on the island.

Also speaking, Director of Technical Services, Ministry of Physical Planning and Urban Development, Lagos State Government, Mr. Muritala Balogun, stressed that the Lagos State government has not licensed anybody to occupy this place. “So, all structures that you find here are all illegal structures. They never got any permit nor approval from Lagos State government. And on the insinuations that they have been residing here for over a hundred years, it cannot be true. I can recollect when I was still a young boy in primary school, apart from Tarkwa-Bay, there is a village called Ogogoro Village, the same incident happened. A particular government cleared that place back then. “They were into piracy; killing captains of ships over the Nigerian waters. So the same thing is happening here. Government cannot fold its hands where illegal occupants are sabotaging the economy of Nigerians. Lagos State government would not be part of that. “For the leisure centers, they have licenses. That was why they were not affected by the operations because they have our permits. But those without permits are the ones carrying out these illegal activities and those are the targets of government so they can stop sabotaging the economy. “About other communities that have not been licensed, for Lagos State, we have a master plan that covers all parts of the state. Some of them are recognised in the master plan. But efforts are ongoing, encouraging them to come and submit application to government and get Lagos State permit, so that their stay on that

land can be legalised. And we are fully in support with the ongoing operation. “The statutory responsibility of the Lagos State government in this operation, is not for security; though it's part of it, but for physical planning, we have our own responsibilities to grant permits for development and because of the terrain of this place, we know how we come around here. It's not really easy to come over water for monitoring. But arising from what has happened now, government is putting itinerary in motion to ensure that there is compliance with the physical planning law, everywhere in the state now. “For the people that were dislodged here, government still cares about them.

They can raise representatives and make presentations to government because they don't have permits to be here in the first place and Lagos State government doesn't encourage illegality.�

AI Reacts Sitting firmly on the side of the evictees, Amnesty International has condemned Nigerian authorities over the alleged violent and unlawful evictions that rendered thousands of residents of Tarkwa Bay, a waterfront community in Lagos State homeless.

Tasking the FG, LASG to end forced evictions in Tarkwa Bay, the human rights organisation said the security personnel raided the location on January 21, 2020, where they allegedly assaulted the residents while shooting during the eviction.

AI in a statement said the eviction was a brazen disregard for the safety and security of the affected people, as well as their right to housing among other human rights, adding that some children were reported missing. “What is happening at Tarkwa Bay, Lagos is a violation of human rights.

It is unacceptable that the Nigerian government are evicting people in the most violent manner and destroying their homes without genuine consultations,

adequate notice, alternative accommodation or access to remedies,� said Osai Ojigho, Director Amnesty International Nigeria.

She said unlawful evictions had been going on in Lagos since last year, adding that in November 2019, nearly 1500 residents of Second Badagry community in Lagos were forcibly evicted. Similarly, on January 4, 2020, AI said about 3,000 residents of Okun Glass Village, Ilaase, were violently evicted. “In defence, the government sited pipeline vandalisation as justification for the forced evictions. Several other informal communities in Lagos State live with perpetual threats of forced evictions. Many residents lament how forced evictions throw them and their families into destitution,� the statement added.

AI urged the Lagos State authorities and the federal government to urgently set up an independent and impartial inquiry into all cases of mass evictions in Lagos and prosecute all those, including government agents, found to be responsible for human rights violations and crimes committed during the evictions.

Interim Injunction Given that the court is the final hope of the common man, the evictees stormed the court last Thursday to get an interim injunction, lamenting that they were being punished for the crimes of a small minority and given no notice of the eviction.

The judge issued an interim injunction ordering the authorities to stop the demolitions of homes, businesses and community facilities or evicting any more inhabitants and also forbade them from harassing people from the community.

With this recent operation by the JTF, it is hoped that they would not just stamp out the menace of pipeline vandalism in Tarkwa Bay, as well as protect the critical pipeline infrastructure across board, but at the same time respect the sanctity of human rights.

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MONDAY FEBRUARY 3, 2020 •T H I S D AY

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BUSINESSWORLD

Group Business Editor Obinna Chima

Email obinna.chima@thisdaylive.com 08152447875

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Quick Takes REFin Restates Commitment to Quality

2020 ECONOMIC OUTLOOK

L-R: Managing Director/CEO, Mead Facilities and Management Services, Engr.Femi Akintunde; Senior Lecturer, Lagos Business School, Dr. Bongo Adi;Vice President, Global Market, Parthian Partner, Ola Eke-Oladele; Group Managing Director, Meristem Securities Ltd,Wole Abegunde; Managing Director/CEO, Affiniti Capital Management, Prof. Ogunbayo, and Deputy Group Managing Director, Meristem Securities, Sulaiman Adedokun, during the launch of the Meristem 2020 Annual Outlook Report, held in Lagos... recently

IFC Seeks ‘Ambitious’ Reforms for Inclusive Growth in Nigeria Obinna Chima The Country Manager for the International Finance Corporation (IFC) in Nigeria, an arm of the World Bank, Eme Essien Lore, has stressed the need for what she described as ambitious reforms in Nigeria, to stimulate economic growth in the country.

Lore, who said this during the Nigeria 2020 Economic Outlook organised by Deloitte in Lagos recently, said good policies are instrumental in having inclusive growth agenda, “and there is no question about that.�

According to her, there is an incredible amount of dynamism from the private sector in Nigeria.

However, she pointed out that there is a broken social contract in the country, saying that the populace doesn’t trust government, “and therefore, for example,

ECONOMY we have a situation where there is low tax compliance.� “I think we also have a fractured business contract between government and the private sector. We don’t have enough trust between these two critical stakeholders in the ecosystem. “It is pretty low and I think it would take years to build that trust and there must be commitment on both sides to make that happen,� she added.

According to the IFC country manager, the multilateral agency would continue to advocate for good and robust policies, as well as for trust between the private sector and government. “We should be in a hurry in Nigeria,� she said.

Lore noted two areas policy-

makers in the country should focus on. “There is a policy-driven part, which focuses on government making the right decision and putting in place robust policies.

That is very important and we should always advocate for that. “There is also a part that requires more innovation and collaboration in the private sector and focusing much more in the sub-national level, which I think there are lots more opportunities at that level. “Essentially, what I am saying is that there is a part the private sector has to play. It doesn’t entirely depend on policy. We think there is absolutely an opportunity for that in Nigeria. “I do think we have a very dynamic private sector in Nigeria and things can be done outside the policy framework that are

very impactful in Nigeria,� she said.

Continuing, Lore added: “Why is inclusive growth important in Nigeria? It is important because of the impact it has on people, and ordinary, hardworking Nigerians, who are essentially the backbone of this society. “For more than 10 years in Nigeria, there was a situation where we had about seven per cent growth. But if we are very honest with ourselves, we would know that it was jobless growth. “In fact, in some areas in the country, then, in spite of the fact that we had growth, there was increasing poverty.�

According to her, statistics today show that many people in Nigeria are suffering. “Is it malnutrition, youth Continued on page 24

Report: Unemployment, Quick Wealth Fueling Cybercrime The high rate of unemployment and the quest for quick wealth are the two major factors driving individuals towards cybercrime in Nigeria, a report by the Financial Derivatives Company Limited (FDC) has stated.

The FDC in its latest bi-monthly economic bulletin, noted that the country is presently experiencing a surge in cybercrimes supported by the prevailing economic conditions.

According to the Lagos-based financial advisory company, these threats pose a great risk, which could only be eliminated through strict enforcement of cybercrime laws, provision of lucrative opportunities in the economy, information sharing, among others. “For individuals, simple

ECONOMY security tips such as having an updated and recognized anti-virus software, avoiding pop-ups requiring personal information, using strong passwords, and ignoring emails or calls requiring financial details to help unblock cards or accounts etc, will go a long way in preventing security breaches. “However, in the medium to long term, increasing awareness could help mitigate the cyber threats, if action is taken,� it stated. With about 3.9 billion users, the internet has become one of the greatest technological developments. While widely accepted for its ease and efficiency, it is also embedded with a multitude of vulnerabilities,

which pose significant security threats to users and has led to the emergence of cybercrime.

Cybercrime, which includes any crime committed with the aid of a computer and network (e.g. phishing, bank verification number scams, fraudulent emails, hacking, cyber harassment, spamming, ATM spoofing, social media hi-jacking etcetera), exploits vulnerabilities of both electronic devices and their users. In Nigeria, a number of key factors – such as a high rate of unemployment, the quest for wealth, a lack of strong cybercrime laws, and incompetent security on According to the report, the estimated annual financial loss in Nigeria due to cybercrime was N250 billion ($649 million) in 2017 and N288 billion ($800 million) in 2018.

“Cybercrime destroys the reputation of a country, making the business environment difficult for start-ups and small and medium-sized enterprises, while discouraging investment in the economy by foreign companies. “For individuals, cybercrime results in the loss of financial resources, intellectual property or personal confidential information, and the damages can be extreme, often targeting senior citizens and people who are vulnerable,� it stated.

In 2018, in the US, roughly 62,000 people age 60 or older reported losses totaling over $649 million.

This was only based on crimes reported. McAfee estimated that

With a new set of completed ats being handed over to owners and the laying of foundation of another project, Lagos real estate ďŹ rm, REFin, has assured prospective patrons of quality product from the company.

Thecompany,whichisoneofNigeria’sleadingrealestateorganisations, stated this while unveiling its newly completed estate, Anchor Grounds, and its next project, Chelsea Court, currently on sale.

Anchor Grounds, which is located in LaďŹ aji, Lekki, already has all its apartments sold out, while Chelsea Court, which is now selling, is located in Ikate, Lekki. Both estates are situated on a 2900sqm and 4752sqm land area respectively, oering ultra-modern and upscale accessories with exclusive and commercial spaces in close proximity.

REFin Homes Managing Director, Mr. Olatunde Macaulay, said: “We are excited to add this new project to our development pipeline. This aligns with our strategy of building our presence in the country’s leading real estate markets and will add momentum to our plan to grow market share overtime.Welookforwardtodeliveringoutstandingprojectsacross Lagos and beyond.�

Also, in Synergy with the MD’s comment, the Deputy MD Mr. Kazeem Owolabi said: “I am extremely proud of the REFin Homes team for this signiďŹ cant achievement, which proves that their commitment aligns with the company’s goal of providing aordable housing, quality and the best possible service.â€?

According to the Group Principal Consultant at ADSTRAT BMC, the BrandManagementConsultingďŹ rminchargeofStrategyforthecompany, Charles O’Tudor, “REFin Homes is one brand with a very unique model and everyone that has bought into the brand can attest to the fact that it has one of the most exible and seamless processes where home acquisition is concerned. It truly is a brand worth buying into.â€?

MTN Holds Award Ceremony

MTN Nigeria recently held its annual sales conference, which started with a forum and culminating in an award ceremony recently. The award ceremony, which took place in Lagos, played host to MTN’s business partners from across Nigeria as well as top executives of the company.

The Gala and awards night was an evening full of glamour and entertainment with the Nigerian music legend, Innocent Idibia popularly called 2Baba thrilling the guests with his evergreen melodies.

Speakingattheceremony,ChiefOperatingOďŹƒcer,MTNNigeria,Mazen Mroue, said MTN was committed to ensuring that its trade partners have all the support needed to achieve their personal and corporate targets. “This is an evening of appreciation and recognition. We appreciate our partners for being with us through the years.Thank you for your patience, commitment and loyalty to our brand. We will continue to stand beside you and stay committed to you, as you have been committed to our brand.

This year is very important to us. Forget about targets, plans, strategies.

The year is important to us because we remain together on this journey.�

In addition to the glitz of the night, MTN also rewarded outstanding partnerswithprizessuchascars,motorcycles,tricyclesandothervaluable gifts.

Sahara Group Backs Gender Equality

Ensuring equal access to resources and opportunities regardless of gender,isessentialforpromotingsustainabledevelopmentacrosstheglobe, the Director, Governance and Sustainability, Sahara Group, Pearl Uzokwe, has said. Uzokwe who spoke in Paris at the Organisation for Economic Co-operation and Development (OECD) Private Finance for Sustainable DevelopmentConference,saidgalvanisingprivateďŹ nancealongsideother sources of ďŹ nance for gender equality was not only urgent but critical for sustained wealth creation, especially in developing countries. Uzokwe, said Sahara Group had consistently led the cause of equal access and opportunities in the private sector through support for gender related projects and policies that supports employment and growth within the organization which is free of any gender-based considerations. “Sahara Group is passionate about the issue of gender equality and we continue to promote and invest in projects that empower men and women to pursue economic prosperity. We are also entrenching gender diversity at the board level of the organisation in line with global trends in corporate governance,â€? she said.

“If we do not grow at a faster pace, we will continue to accumulate larger numbers of poor people. Right now, we are experiencing negative per capita growth and we need to turn that around and have a positive growth. So we should just work harder�

Former Minister of Finance,

Continued on page 24

Dr. Ngozi Okonjo-Iweala

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BUSINESSWORLD IFC SEEKS ‘AMBITIOUS’ REFORMS FOR INCLUSIVE GROWTH IN NIGERIA employment or maternal health? For me, it is the issue of literacy that is worrisome.

Statistics shows that only 19 per cent of Nigerians who are primary school graduates are literate. “That is, only 19 per cent of people who leave primary school in Nigeria can read. That hits me in my heart. “This and other scaring statistics make it imperative for us to pursue inclusive growth.

We must be relentless about pursuing inclusive growth. “We must be absolutely dogged about this. It matters because it affects people in their everyday lives,� she added.

She stressed the need to put the private sector in the middle in the quest to deliver inclusive growth in the country, saying “It is not government that would deliver on it, it is the private sector that can deliver on that agenda.� “But we don’t think there is a simple solution, but we do believe that boosting productivity will accelerate growth and help create more and better jobs.

REPORT: UNEMPLOYMENT, QUICK WEALTH FUELING CYBERCRIME

95 per cent of cybercrimes go unreported. “With Nigeria venturing into a cashless society, the threat of cybercrime becomes all the more relevant. There needs to be integrated efforts between individuals, businesses, the Nigerian government and the international community. “Reforms such as increasing awareness on the mode of operations of cyber criminals, improved personal security, establishment of anti-scam centers etc are vital in minimizing cybercrimes,� it stated.

As part of efforts to combat cybercrimes, the Central Bank of Nigeria had introduced a risk-based cyber security framework and guidelines for deposit money banks and payment service providers. This framework lays out proactive steps to secure critical information assets including customer information that is accessible via the internet.

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT)

NEWS

NDLEA Destroys 100 Tons of Illicit Drugs Oluchi Chibuzor The National Drug Law Enforcement Agency (NDLEA), at the weekend, publicly destroyed over 100 tonnages of drugs and psychotropic substances.

The move was part of the agency’s renewed bid to mitigate enhancer features within Lagos state.

The agency said the high drug usage in Lagos State was not acceptable, considering that the state was not known for large-scale production of any drug or psychotropic substances.

The public destruction of drugs, which took place at Seme Special Area Command, include seizures made between 2013 to 2019.

The agency disclosed that over 129. 7 tons of drugs were seized in Taraba, Gombe, Kogi, Delta, Nasarawa states respectively, in the last one year.

Speaking at the event tagged, “Operation Fire for Fire�, the Chairman and Chief Executive Officer, NDLEA, Col. Mustapha Abdallah (rtd), stressed the need for a rapid response to address the menace as it keeps expanding.

He said, “It is amazing that we are gathered here today to destroy precisely 100, 143.

218 Kilograms of drugs and psychotropic substances. “This quantity is unacceptably high, considering the fact that Lagos State is not known for larger scale production of any of these drugs and psychotropic substance. “We are, however, not unmindful of the peculiarity of Lagos, being a state with an increasingly large population, relatively easy transportation network and accessibility through sea and land borders all of which enhance drug

trafficking and abuse. “It is in realisation of these features that we have ensured adequate number of formation in Lagos to address the identified enhancers. The results are these huge seizures of drugs and psychotropic substances.�

The NDLEA boss, however, called on the state governor, Mr. Babajide Sanwo-Olu, who was represented at the even by the State’s Director Public Prosecution, Mr. Yaqoub Oshoola, to have a functional state Drug Abuse Control Committee, to complement its current effort. “The Lagos State Kicks against Drug Abuse (LASKADA) is a

good initiative, but requires more effort and investment to meet the need of Lagos State,� he said.

According to the agency, the summary of records within the year in review showed that the Central Exhibit command had 38,372.329KG; Seme Command, 21,669.430KG; Lagos State Command, 40,111.459KG. “The breakdown according to drugs by command includes: Central Exhibit Command: Cocaine, 762.856kg, Heroin, 270.892kg; Meth, 237.332kg; Ephedrine, 234.96; Tramadol, 1,271.388kg; Cannabis, 32,705.855kg; Other Pasco Substances, 597.794kg;

KHAT, 2,281.252kg. “Seme command: Cocaine, 4.173kg; METH, 0.415kg; Tramadol, 19.000kg; Cannabis, 21, 645.752kg; Other Psychotropic Substances, 0.090kg. “Lagos State Command: Cocaine, 2.991kg, Heroin, 0.770kg; Meth, 0.316kg; Tramadol, 6,987.382kg; Cannabis, 33,120kg.�

Responding to the menace, Oshoola commended the agency on the transparency displayed in the destruction of the various substances. “In line with international standard, the destruction exercise witnessed a laboratory test to ascertain the

components of the exhibits in the presence of relevant stakeholders, including representative of the National Crime Agency.

Commenting on the number of those convicted, the Lagos State Command, Mr. Ralph Igwenagu, explained that in the last one year, his command arrested 450 suspects with 85 convicted. The NDLEA formation that carried out the exercise according to him included seven Area commands - Murtala Mohammed International Airport, Apapa Sea Ports, Tincan Island Ports, Seme Special Area Command covering the land border between Nigeria and Benin Republic.

ALUMI INAUGURAL LAUNCH

L-R: Faculty, Ausso Leadership Academy, Christopher Stephenson; President, Alumni Association, Tosin Adefeko; Founder and Entrepreneur-inResidence, Austin Okere, and Vice President, Mike Mornu, at the Academy’s Alumni inaugural launch held in Lagos‌recently

SystemSpecs Unveils New Corporate Identity Dike Onwuamaeze SystemSpecs, one of the leading providers of innovative financial technology and human capital management solutions in Africa, has unveiled a new corporate identity to reposition its brand.

The move is to enable the company to fully maximise its potential, explore greater fields of business possibilities and enhance the delivery of topnotch technology solutions and services in Nigeria and across Africa.

The firm disclosed this at the weekend, at an event which held at its new headquarters in Lagos, to herald the new season of its business operations.

In line with its strategic direction

for the future, the firm unveiled its new corporate identity, which reflects in its new logo.

SystemSpec also announced the unveiling of Paylink by Remita, a new product which empowers individuals, businesses and non-profit organisations, especially those that seek to optimise social media as a one-stop-shop, to receive payments by simply sharing a link.

Speaking on the essence of the brand fresh, the Managing Director of the 28-year-old firm, John Obaro, said: “Easily recognisable for the development and provision of top-class software technology solutions and services, we desire that our name resonates with all our stakeholders—custom-

ers, partners, investors, talent, aggregators, regulators, among others—anywhere on the globe as the home of inspired people, innovative solutions, excellent customer service and integrity.� Obaro, added that while SystemSpecs’ corporate brand identity would be refreshed to advantageously position the brand to harness the limitless opportunities of the future, the firm’s, “values of ethics and integrity in business, true friendship with our customers, open family-based relationships at work, respect for our neighbourhood and our people, and diligence in our work that we may stand before kings,� would remain the same.

SystemSpecs’ new corporate

identity is reflected in its logo which is distinctive in design and colouration and depicts the brand’s promise to stakeholders. “The unambiguous black colour in which our company name is written represents solid character and traces our origin back home as an indigenously Nigerian and African company. “For us, our Nigerian and African origins remain a driving force as we project our country and continent as veritable sources of innovative technology that can rival any from other parts of the world,� Obaro said The three dots atop the inscription of the company’s name symbolise the company’s progression. The first dot rep-

resents Nigeria while the other two signify the movement of the company to the entire African market and the rest of the world.

In affirmation of its new strategy business direction, SystemSpecs also recently restructured its new business operation into four strategic business units (SBU), namely Infrastructure and Payment Gateway; Application and Vertical Markets; Human Capital Solutions and Services; and Public Sector and Special Projects. “The Infrastructure and Payment Gateway SBU would provide critical technology backbone to banks, payment processors, aggregators, and other service providers.

Miners Face Funding Squeeze as Green Investing Surges As global investors shift away from heavy industry in favour of cleaner sectors, mining companies are losing billions in financing, raising the cost of capital and jeopardising projects.

Reuters stressed that making the mining industry more sustainable by running mines on renewable energy, for example, would be a key focus at the annual Investing in African Mining Indaba conference in Cape Town this week, as companies hunt for new sources of capital including private equity, debt,

offtake finance and royalty finance.

Environmental, social & governance (ESG) concerns have driven money into specialised ESG funds which often exclude mining stocks among other ‘dirty’ assets. “You talk to anyone at the moment, they say there’s no money,� it quoted executive director of Alphamin Resources, Boris Kamstra, whose firm manages the Bisie tin project in Democratic Republic of Congo.

The capital squeeze that

started about two years ago has worsened recently, CEO of Anglo Pacific Group, a mining royalty and streaming company, Julian Treger, said.

The average cost of capital for early-stage mining projects rose by two percentage points over the past two years, he estimated. “Even for companies that have good projects it’s very difficult for them to raise any money in these markets,� said Caroline Donally, managing director at private equity firm Denham Capital, in Houston.

“Previous investors who would provide equity appear to have withdrawn. A number of specialist funds have shut up shop, and generalists aren’t investing in commodities anymore,� said Donally, who will be attending Mining Indaba, the world’s biggest mining investment conference, which takes place between February 3rd and 6th.

Cannabis stocks and cryptocurrencies are among alternative assets that are luring retail investors away from miners.

Mining-specific private equity funds raised $0.3 billion in 2019, a fifth of the amount raised in 2009, and just barely more than the $0.2 billion raised in 2014 during a global commodity crash, data from Preqin showed.

Coal miners - especially those extracting thermal coal, burnt to produce electricity are bearing the brunt of the sustainable investing trend.

Norway’s sovereign wealth fund divested from all fossil fuel last year, and the world’s biggest asset manager Blackrock said.

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Experts Harp on Ethics, Morality Raheem Akingbolu Experts across different sectors of the nation’s economy have stressed the need for individuals and corporate organisations to uphold high ethical standards, to enable them survive the trying economic times in Nigeria.

Delivering a keynote address on, ‘Upholding Ethical Standards in a Challenged Economy’, Tomi Vincent, argued that the myriad of challenges, faced in the country, had made individuals and corporate organisations, desperate for survival.

According to him, since times were becoming increasingly tougher, a lot of corporate organisations and individuals had resorted to getting things done through conventional and unconventional means.

The Law, Taxation and Policy lecturer of the School of Media and Communications, Pan-Atlantic University, however, expressed the belief that the permanent solution to the challenges plaguing the economy would never be found in indulgence in such unwholesome responses. “The truth remains that we must make a conscious effort to change the narrative otherwise economic growth will continue to be a dream. “A veritable way of doing this would be found in the channels of ethical standards,� he argued.

Defining ethics as a moral philosophy which studies right or wrong behavior and actions, the legal luminary counseled on the need to be value-oriented to be able to uphold ethical standards in challenged economy.

In his contribution, the Group Chief Executive Officer, Prima Garnet Africa, Mr. Lolu Akinwunmi, attributed the reluctance to uphold ethical standards, by individuals and corporate organisations, in Nigeria, to societal pressure.

Giving personal examples, the former Chairman of the Advertis-

ing Practitioners Council of Nigeria (APCON) narrated how he was once faced with such pressure from friends and acquaintances, who saw the statutory three-year term, as the head of the apex regulatory council in the nation’s marketing communications space, as an opportunity to better his lots. “To ward off such pressure, I deliberately made sure I was never a signatory to any of the Council’s accounts, while ensuring that due processes were followed in every of the agency’s activities,� he added.

The former APCON boss added that, insisting on ethical standards could have its own consequences.

He, however, believed that the enormous benefits inherent in such action quite outweigh the disadvantages.

The Managing Director, Proshare, Mr. Femi Awoyemi, attributed lack of ethics, in most individuals and organisations in Nigeria, to trust deficit. “We choose what to believe as the truth in this society. We have created a new model of assessing people in the society, and nothing is being questioned. Upholding ethical standards in such society might be a challenge,� he stated.

He, however, commended Rotary District 9110 for coming up with an event, aimed at addressing such environmental challenges and serve as role models for ethical standards in the society.

The District Governor, Dr. Jide Akeredolu, explained that the decision to organise the business seminar was informed by the need to bring to the fore some fundamental issues hampering the growth of the nation’s economy.

While expressing the organisation’s commitment to positively impact lives of the people in its operating environments, Akeredolu added that one of the ways is by ensuring that every member of the organisation walk, ‘the integrity talk’, to enable them serve as role models wherever they find themselves.

Nnewi Investment Summit Holds February 6th Dike Onwuamaeze The Ford Foundation and a group of experts and industrialists have concluded plan to organise the Nnewi Investment Summit.

The summit with the theme: “Revitalising the Manufacturing Hub of Africa,� was designed to leverage the already thriving industrial and commercial activities in Nnewi and harness them for the wider economic development of Nigeria.

Expected to lead the conversations at the inaugural edition of the summit, which will hold on February 6 and 7 2020, in Nnewi, Anambra State Nigeria include former Presidential candidate, Prof. Kingsley Moghalu; CEO of Afrinvest West Africa Limited, Ike Chioke, and West Africa Regional Director, Ford Foundation, Mr. Innocent Chukwuma.

Speaking on the summit, CEO, TBWA\Concept Unit, Mr. Kelechi Nwosu, said the Nnewi industrial hub should further develop and should be promoted as a model for economic growth in Anambra state and Nigeria in general.

Nwosu, noted that Nnewi is a unique town where young entrepreneurs and courageous artisans with limited formal education exploit their wit to create

amazing stories of manufacturing and industrialisation in Nigeria. “The overall agenda of the summit is to draw the attention of stakeholders to the benefits of revitalisation and rebranding of Nnewi as an industrial hub in Africa by leveraging on its past glory and current potential. “We are also expecting this summit to start the formation of alliance development that will create a blended intervention programme involving policy makers, private investors and donor organisation (philanthropists),� a statement quoted Nwosu to have said. Sponsored by the Ford Foundation in partnership with the Nnewi Chamber of Commerce and Industries and Anambra Broadcasting Service, the twoday summit is envisioned to drive the growth agenda for young indigenous businesses by outlining how they can scale with the right exposure, branding and capacity building projects.

Also speaking on the Summit, Chairman C & F Porter Novelli, Chief Nn’Emeka Maduegbuna said the event would be important in fostering collaboration among businesses to increase comparative advantage within Nnewi and environ.

Coronation Merchant Bank Appoints Adegbohungbe Acting MD Hamid Ayodeji The board of directors of Coronation Merchant Bank Limited has announced the appointment of Banjo Adegbohungbe (Banjo) as the Acting Managing Director of the bank.

The appointment became effective from February 1, 2020.

A statement explained that the announcement followed the Central Bank of Nigeria’s approval of the appointment.

Adegbohungbe succeeds the outgoing Managing Director/Chief Executive Officer, Abubakar Jimoh (Abu), whose retirement takes effect from April 30, 2020.

Announcing the appointment, the Chairman of Coronation Merchant Bank, Mr. Babatunde Folawiyo, said, “The seamless transition is a

result of deliberate succession planning by the board in line with the bank’s commitment to strong corporate governance standards. “In the past 18 months, Banjo has distinguished himself in service to the organisation and contributed immensely to the overall growth of the bank. “We are confident that his appointment will further strengthen and position the Bank for improved performance�.

Adegbohungbe, commenced his banking career at Citibank Nigeria over 26 years ago. He joined Access Bank Plc in March 2007, as Deputy General Manager and in June 2018, joined Coronation Merchant Bank as Executive Director/Chief Operating Officer. Before this appointment, Adegbohungbe

worked with the current Managing Director as the Deputy Managing Director of the bank.

Over the years, he has garnered experience working in Global Trade, Corporate and Investment Banking, Operations, Treasury Management, Global Payments, Strategic Planning, Information Technology, Business Process Improvement, and Corporate Services Departments.

He holds an MBA in Business Administration from the International Institute for Management (IMD) Switzerland and a B.Sc. in Mechanical Engineering from Obafemi Awolowo University, Ife. He is a member of the Chartered Institute of Bankers and has also attended several executive management and banking specific developmental courses

in leading universities around the world. Commenting on the outgoing Managing Director, Folawiyo noted, “Abu gave himself to the growth of the bank, having led a team that turned around a nearly-extinct Associated Discount House Limited and converted it to an “A+ rated� merchant bank in Nigeria within five years of its existence. “We will always be grateful to Abu for his years of selfless service to the bank and for the strong values he instituted in the organisation.�

Coronation Merchant Bank was established in 2015 to provide wholesale banking to a long-underserved market.

The bank offers Investment and Corporate Banking; Private Banking/Wealth Management and, Global Markets/Treasury Services to its niche clientele.

BOND LISTING

L-R: Deputy Managing Director, FBN Quest, Taiwo Okeowo; Group Financial Controller, Interswitch Group, Chinomso Nwachukwu; CEO, Nigerian Stock Exchange (NSE), Oscar Onyema; CEO Interswitch Group, Mitchell Elegbe, and Group Chief Financial Officer, John Maguire, during Interswitch Group’s Bond listing on the NSE in Lagos...recently SUNDAYADIGUN

‘Revenue from Lottery Can Boost FG’s Earnings’ Senator Buruji Kashamu has said tax revenue from lotto industry can take Nigeria out of its economic woes if properly harnessed.

Kashamu, who represented Ogun East Senatorial District in the eighth senate, revealed this in Lagos at the weekend.

A statement quoted him to have said failure of lotto industry operators to be faithful in the payment of taxes and levies to the coffers of government was partly responsible for the low revenue generation from the sub-sector.

The former legislator, who has interest in Western Lotto, said he was in support of the effort to sanitise the lotto business in the country, to ensure that the industry creates wealth for the government and employment for the people as is the case in other countries.

He said, “My interest in the gaming industry stems from the opportunity it gives for

wealth generation, redistribution and empowerment of the masses. “I have it on good authority that all the promoters ought to have paid N600 billion to the federal government and its agencies, but they have only paid N9 billion in the last 14 years. “It is common knowledge that leading lottery and sports-betting companies are generating more than N1.5 billion daily and N45 billion monthly but do not pay the appropriate taxes. “Some of them have over 400 active accounts in various banks in Nigeria that they use to perpetrate their fraud and illegality of short-changing the government. This must not continue.�

According to him, the opaqueness in the operation of lottery business in the country has not allowed it to contribute maximally to economic growth of the country.

He stated, “All the lottery and sports-betting companies have over 60,000 outlets/ agents spread all over the country. Instead of them to allow the industry to flourish like it is in Ghana, South Africa, United States and the United Kingdom, where the funds are used to support the government and promote good causes, they short-change the federal government. “Can you imagine one lottery operator saying he wanted to fix the National Stadium in Lagos when he has government’s money in his hands? What kind of corporate social responsibility or philanthropy is that?�

Speaking on the rationale behind the franchise of Ghana Games obtained by Western Lotto, he said, “The Ghana Games is responsible for about 70 per cent of the revenue from the lottery business. “But it is being done in an illegal way. This aids the manipulation of the system

and under-declaration of what they ought to be paying the government. They divert the funds into property acquisition and other businesses. “In a bid to correct the ugly trend and sanitise the system, Western Lotto obtained the franchise of the Ghana Games in Nigeria. And if due process is followed by the lottery operators in Nigeria with respect to this matter, the government will have so much to cater to the needs of the people and fix infrastructure, including the National Stadium. “It should be noted that it is not only in the area of statutory remittances that they (lotto operators) have been short-changing the government. How can a father and three of his biological children be members of a 14-man board of the National Lottery Trust Fund if it is not to circumvent the system? I urge the government to rise up and correct these anomalies.�

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Garuba: CBN Normalising Abnormality in Money Market Mohammed Garuba is the Co-founder at CardinalStone Partners Limited. In this interview, he speaks about the five per cent increase in the Cash Reserve Requirement at the last Monetary Policy Committee meeting. Garuba, also urges the federal government to end its fuel subsidy policy, which he describes as a joke and a drain on the country’s scarce resources. Obinna Chima brings the excerpts: Were you surprised about the outcome of the last Monetary Policy Committee (MPC) meeting?

No, I wasn’t surprised. I think something was expected as we didn’t see a devaluation in the horizon because it would have been premature. For me, it was a wise move because clearly one variable had to be adjusted. We had so much liquidity in the system and all sort of speculative tendencies were already coming to the fore. So, the Cash Reserve Requirement (CRR) was one of the smart tools the Central Bank of Nigeria (CBN) could have used in managing this liquidity. I don’t think five per cent increase was enough, it could have been a bit steeper. And why I said that is because there are not just enough investible instruments and the need to trigger growth has to be gradual. There are three categories of investors in the market, but the CBN has with this move concentrated on just the local investors who have focused on treasury bills as a secure form of investment for age since the rates have always been very favourable and treasury bills are readily good for this class of investors. You then have local fund managers spit between pension funds and mutual fund managers who manage money market funds.

Money market funds are about N800 billion and now all of a sudden there are not enough instruments for them to invest. So, what will typically happen is confusion which is what is happening in the market right now and that is what the CBN was trying to mitigate. Yes, there is the foreign investor angle to all this, as they are taking their money in and out and now they have a different market. The Pension Fund Administrators (PFAs), to a large extent, is regulated investing. The tactical investors who are at liberty to make their investment decision on where to invest their money, right now could start speculating on the dollars and all sort of risky investments. So, one way the CBN can manage this extra liquidity, from the plethora of maturities OMO and treasury bills maturity is somehow act. And I think the CBN in its wisdom had to adjust the CRR. I see a net impact of between N600 billion and N1 trillion which would be sterilised from the system.

What that does is that most likely it is going to gradually take interest rate back up again to more reasonable levels. Bank were sitting on so much liquidity and had started rejecting monies as we saw deposit rates go as low as one per cent to two per cent. How does that make sense when same Central bank has pegged saving account interest rate at about 30 per cent of the Monetary Policy Rate (MPR). If MPR is 13.5 per cent, that means savings account for as low as N10,000 are to enjoy as much as four per cent. Then, why would N100 million deposit earn lower? So, banks were returning monies and the central bank knew there was an abnormality and confusion in the market.

So, the market had over reacted much more than they expected. So, one smart thing was to temporarily take some money out so that rates would start to normalise. Where would you have N100 million for one-year deposit at 1.5 per cent, while those who have savings account were earning over four per cent? There is an abnormality with that. So, the CBN in trying to normalise the uncertainty in the money market had to something like this. I believe the CRR will continue to increase up to a point that equilibrium is achieved and banks start to lend, before they start releasing this money back into the system. What is money in the bank if they are not actually going to use it for the purpose of lending? What happens? The money sits in the bank. And if the banks don’t offer depositors anything interesting, apart from the PFAs who really cannot do anything, the individual investors could start doing anything with their money and individuals could start speculating on the dollars. If I buy Eurobond today, I can make as much as six per cent and this is a dollar investment. So, why would naira be giving me returns of investment of about one per cent? So, the CBN had to do

Garuba something. So, among their arsenals, this was one of the ways they felt it would work. We have never seen a situation where interest rate is as low as developed markets. See, clearly, that wasn’t normal. You plot Nigeria’s treasury bills rate with other frontier markets and you will see an abnormality. There is no correlation between Nigeria’s market and other markets.

Banks were set up primarily to intermediate and that is what the CBN is trying to make them do, not to be buying treasury bills and bonds. So, banks are gradually being made to do their primary job. So, now we would start seeing economy-reflective financial performance.

Banks were focused on deposits which they channel into treasury bills and you say you are a bank. Now, the central bank is more focused on banks playing their intermediation role.

But there is the argument by some analysts that the CBN sterilising these funds by way of raising the CRR contradicts its loan-to-deposit ratio (LDR) policy. What is your take on that?

Money market funds have about N800 billion and all of a sudden there are not enough instruments to buy. So, what will typically happen is confusion in the market right now and I think that is what the CBN was trying to mitigate

The answer to that is Yes and No. Yes, in the sense that they are two different tools. They have imposed 65 per cent LDR, quite alright, but the banks are not meeting it. ‌ But some banks have met the 65 per cent minimum LDR? Yes, some have met it, but generality of the banks has not met it. Like Fidelity Bank has crossed the 65 per cent long ago. Fidelity Bank has always enjoyed this. But majority of the others have not met it, they are not about to meet it and they would not meet it. So, what should the CBN do? Should it continue to wait for them to meet it? When the LDR policy was announced, there wasn’t any madness in interest rate and so the CBN was expecting something, but now they have done another policy that has materially brought interest rate down right now. We are no longer talking about banking right now, we are talking developmental finance.

Sadly, it is not CBN’s primary purview, but since no one is taking the lead, the CBN has decided to take the lead. It has said it doesn’t want banks to keep buying treasury bills and bonds, but to lend. So, the CBN is saying there is just too much money in the system and as they are sterilised, the CRR would definitely come down. But, the CBN’s hands are tied.

When the banks have fewer monies to manage, then banks would start looking for deposit all over again. Towards the end of last year, the banks were offering one per cent for N1 billion and some were even rejecting fund placement.

So, if such was happening, do you think the CBN would fold its hands? Because they have dropped loans from 22 per cent to 15 per cent, the banks want to make super profit. They

have gone to one per cent interest rate and very soon they would start charging people negative interest rate, just because they want to maintain margins and the CBN is saying those margins are abnormal profit. So how do you change abnormal profit to normal profit? It is by ensuring that you put policies in place, that would make many people do the right thing.

Don’t you think Nigerian banks are over-regulated?

Generally, financial services all over the world are over-regulated. That has been the case and it continues to get worse. One simple issue and everyone gets regulated. So, these complaint is around the world. From developed markets to developing markets, banks are over-regulated and it tells in their share prices as well. You don’t see any bank that has grown massively, like you will see in the real sector companies.

There is no bank in Nigeria that has ever crossed N100 per share on the Nigerian Stock Exchange (NSE). FirstBank about 30 years ago was trading higher than Nestle. But look at where Nestle is today and you can continue to pick the names of some of the big banks. So, there is a lot that has happened in that space. Banks generally around the world are over-regulated. And in any regulated business, there is a limit to how much money you can make, because the regulator will continue to cap your ability to grow.

But if the banks are offering one per cent interest on N1 billion and a lot of Nigerians still dread the stock market because of the experience they had in the CONTINUED ON PAGE 27

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GARUBA: CBN NORMALISING ABNORMALITY IN MONEY MARKET

Stock market is still one of the opportunities and individual investors have started coming back to the stock market, but the PFAs that make up majority of our local investors are not yet. And that is largely because they still believe governance is weak past, what instrument or sector should a prospective investor be looking at to invest his money?

Stock market is still one of the opportunities and individual investors have started coming back to the stock market, but the PFAs that make up majority of our local investors are not yet. And that is largely because they still believe governance is weak. The PFAs were holding investments in the defunct Oceanic Bank, Bank PHB, Skye Bank and others, and nobody refunded them their money. So, a lot of them are saying the risk premium is not worth it. If I can get five per cent in treasury bills, I will rather stay there, where my principal is guaranteed, than to take the risk of making 15 per cent in dividend yield in the stock market.

So, we have seen a lot more individuals, out of desperation, instead of one per cent, they are ready to stay in double-digit dividend yield, GTBank, they are ready to stay in FirstBank and other strong dividend yielding banks, such as Fidelity Bank and the rest. So, we are seeing that gradually happen. But I think the primary aim of the central bank is not these short-term investments, it is for monies to move into real businesses and the real sector. That really is the aim. And so, how does the real sector grow?

We have started seeing bonds. Why don’t they issue more corporate bonds, which they can use for capital expenditure? That really is the focus of government. So, it is not to take these monies and put in deposits.

But some would say there are environmental issues, such as the epileptic power supply, bad road, among others, that discourage investments in the real sector?

There are three core areas in production. There is energy, there is human capital and there are the processes. In Nigeria, we don’t have power, but we have human capital. So, if I know I can hire people cheap. I pay today, what you pay a worker who works one day in McDonalds in the United States for eight hours. Just eight hours of work in the US for one day, is what I pay a factory worker in Nigeria for one month.

So, if I need to compete with a factory worker in the US, while they have energy cheap, I have energy expensive here, but I have compensated with human capital. Human capital and salaries make up about 50 per cent of production cost.

But here in Nigeria it is lower because I have other things. So, if people continue to give these excuses, then you start wondering how come the Indians are coming here and they are doing very well? How come Olam has come here and it is doing very well in agriculture?

The truth is that people have not gone in there and they don’t understand the factors. There are headwinds everywhere. Foreigners come here and they don’t want to leave and they do very well, even when operating with generators.

How come they are producing and succeeding in your country; they are scaling up in your country and they are growing capacity. Go to the Agbara axis in Ogun State, and find out how many foreign companies are there. So, what really is happening? Nobody is trying to produce.

A classic example of what is possible is Dangote. Dangote was a wealthy man until he tasted production and he has never gone back again. He was a trader. It is very easy to trade because you make quick money. But in production, the first year might not be good, but you grow in leaps and bounds. Dangote started very little with Benue Cement and has never looked back. Dangote is where he is today, because of production. Tony Elumelu, even as a billionaire, is going to make his mark in the real sector once the issue of cost-reflective tariff for the electricity sector is sorted out. He has

Garuba done most of his investments, he has increased capacity, but just waiting for the right pricing.

Jim Ovia will be a billionaire more when he tries to go into telecoms. He is doing ethanol today. So, the money has always been in the real sector. But there is easy money in other areas, which is why we are focused on them.

I don’t think the production cost is abnormal, it is manageable.

Generally, what are your expectations from the economy this year?

I think 2020 has mixed feelings. In terms of Gross Domestic Product (GDP), we still would not grow and I will not blame government materially for that. But I think the building blocks for success are gradually being put in place. Government’s primary job is to create an enabling environment and more and more we are seeing a lot of that.

Government’s deficit is going to be fixed, we would see a much different year from what we have seen in the past. Customs is improving in their collections. They are ramping up revenue and the Value Added Tax (VAT) has increased, so they are going to get more money, even though most of the money would be shared between states and local governments. But, that means they would be able to meet salary payments.

Generally, the fiscal side is being corrected.

We are seeing a lot of initiatives and they are creating the right environment for growth. We expect the planned borrowing by the federal government to trigger a lot of growth, because it is project-tied. Part of our problem today is foreign exchange, so why continue to take naira borrowings. Also, if the NLNG project goes on, I think this year would be wonderful for this country and a lot more jobs would be created. Just recently, the Minister of Agriculture said 10,000 tractors would be brought in and with that we are gradually inching towards mechanised farming. So, imagine what 10,000 tractors would do. That means efficiency is going to improve in that sector and all these would have ripple effects on GDP growth. Agriculture as a GDP factor for example, has been growing at over three per cent, but has not really caught up with population growth. Agriculture GDP has to catch up with population growth, to

ensure that you are feeding your citizens.

And gradually, that is what the government is doing. We all know how huge the food component of inflation is. If you start growing agriculture to about five per cent, such that you are producing more than enough food, that surpasses your population growth, then that is when food prices would come down.

So, there is a lot we see happening, which I think is positive for the country.

What is your outlook for the stock market?

I think the stock market will go up this year, largely because there would be some support. Banks’ stocks would not do very well because of the over-regulation. The real sector would definitely do well. Investors are getting frustrated, they can’t even get primary bills to buy, even though they have money.

And because you have that second class I defined earlier, the Fund Managers, they must buy treasury bills whether they like it or nor.

The president has appointed some eminent Nigerians into his Economic Advisory Council. If you were to be among them, what are those immediate policies you will advise the president to introduce?

One of the things I am against is subsidy.

Fuel subsidy has to be removed. But subsidy has to be removed with a clear plan. What is subsidy and what is the president’s view about subsidy? It is to help the poor. But you know what?

Today, he is subsidising the rich. Many of us have about three or four cars, because petrol is cheap. So, I would tell the president to remove the subsidy, but we have to create a solution for it. If for instance, I am using between N500 billion and N1 trillion to subsidise yearly, why not create a mass transit bus system for the country, run by Nigerians, managed by Nigerians, that is similar to the BRT model. I don’t need more than N100 billion to do this.

If you invest N100 billion in mass transit, you employ thousands of Nigerians who are going to drive those buses, that would charge cheaper, even cheaper than the BRT. You know what,

those buses would still be profitable. I don’t need more than N100 billion to create massive jobs. This will really help the poor. Why is it that during festive seasons, transportation cost would triple, even when petrol prices have not gone up? So, who is making all the super profit?

That is because people have always expected scarcity in December. And to ensure that this mass transit initiative does not fail, it can be done through Public-Private Partnership (PPP), key performance index (KPIs) are set and the private sector allowed to drive this. I bet you, if it is properly designed, people would stop using their cars across the country. You can use your app to plan your trips and you know when each bus is leaving. For instance, you know the bus that is leaving Lagos to Umuahia and you know the time your connecting bus is leaving Umuahia. All the buses would be run by Nigerians, the mechanics are going to be supervised by Nigerians and with that you would have created jobs and at same time you stop subsidy. That really is one initiative and I have worked it out. It is one thing I believe the Economic Advisory team can drive. Fuel subsidy is a joke, it is not necessary and there has been no clarity about it. The president is so passionate about it; he feels that is the solution to help the poor, but most of the benefits are going to the rich. One way to really help these people is to create jobs. You can use the subsidy savings to set up this mass transport initiative; you create jobs in the major parks and you rent out stores for people to be selling. With this, you would have created efficiency in your road transport system and reduce the number of cars on the roads. This saves us foreign exchange. So, there are also other initiatives I can advise the president on, but I will not want to put it on print at the moment.

Finally, what should clients and stakeholders expect from CardinalStone this year?

There is a lot we are doing. We are diversifying our base. We are going into real estate and we are giving smart investments around forex and how clients can optimise value in forex. And then for money market investment, we would be launching two client-focused funds this year, to cater to clients’ specific investment objectives.

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Digital Economy Nigeria’s Most Promising Alternative to Oil, says Obaseki Adibe Emenyonu in Benin City In order to diversify the Nigeria economy, Edo State Governor, Mr. Godwin Obaseki, has called for adoption of smart Information and Communication Technology (ICT) tools and solutions as an alternative to oil.

He also warned that the country would not develop if the bulk of the country’s savings are still tied to buying foreign exchange for importation.

The governor who stated this at the Edo State Annual Banker’s Dinner held in Benin City, recently, said the growth of the digital economy was vital in providing ICT-driven solutions to everyday problems, noting that the sector remains the most potent in mobilising other sectors to align with the Economic Recovery and Growth Plan (ERGP) of the Federal Government.

According to the governor, Nigeria was not going to

develop if citizens don’t utilise deposits and savings effectively to drive growth and advancement. “Nobody will bring their savings here as capital for your development; we have to do it ourselves,� he said.

He noted that with the recent changes in the monetary environment in the country accompanied by drop in interest rates, banks now have to invest in viable and profitable ventures to be financially buoyant.

The governor assured that Edo State is ready to cope with the credit change as his administration had in the past three years created an enabling environment, where businesses would thrive. “We have made investment in our physical, social and digital infrastructure. We have built roads and ate building infrastructure for digital technology. “We have constructed about 400km of fibre lines across the state, so with that we are ready

for digital investment,� he said.

He said his administration was also ready to partner with the banking sector to ensure financial inclusion for people in the rural area especially in areas prone to human trafficking. “We want to partner with you in the CBN Anchor Borrowers Programme, so that our people can benefit from the scheme. The areas where we found human trafficking endemic are those with least investment in infrastructure

and therefore the people are excluded financially. “You can barely find a branch of a bank in Uhunmwode, Orhionmwon and the two Ovia local government areas in the state. When people are financially excluded, they don’t have access to financial infrastructure,� he said.

The governor therefore called on banks to establish more branches across the state to foster financial inclusion in areas with developmental projects.

‘75% DealersTrade on Devices Not Approved by NCC’ Emma Okonji Facts have emerged that unlicensed dealers estimated to reach 75 per cent are currently trading on devices that are not approved by the Nigerian Communications Commission (NCC).

Licensed dealers of tracking devices and equipment, who made the disclosure during the second Type Approval Sensitisation Workshop, organised by the NCC in Lagos recently, called on the NCC to protect the remaining 25 per cent licenced equipment dealers who have genuinely invested in the business, and to also sanitise the business environment in order to boost customers’ confidence.

Managing Director/CEO of Beta Bridges, Mr. Richard Abiodun, said there was need for the NCC to address the market threat emanating from unlicensed dealers who sell devices and equipment that are not Type Approved by NCC, thus selling counterfeited and substandard devices, just to make quick money.

In his presentation, NCC’s Consultant on Telecoms Devices and Equipment, Fidelis Onah, discussed the effect of counterfeit devices on telecoms equipment, and highlighted the global economic effect it has on businesses and national development of a

country.

According to Onah, counterfeit telecoms devices find their ways into the Nigerian market and could cause serious danger to consumers who are the end-users of such devices and equipment.

He, therefore, stressed the need for standardisation and authorisation of telecoms equipment, which he said, must be Type Approved by the NCC before sales and usage, to avoid undue interference of telecoms signals and transmission networks.

Onah, who blamed the influx of counterfeit telecoms equipment in the market on the basis of greed and the tendency to make quick money by shortchanging the market, said there was need for telecoms equipment to pass through certification, Type Approval, and specifications in order to ensure best regulatory standard.

The Director, Technical Standards and Network Integrity Department of NCC, Bako Wakil, who was represented by NCC Director, Anthony Ikemefuna, said: “Equipment Type Approval is one of the key regulatory functions the Commission is saddled with.

The Nigerian Communications Act 2003 section 132 empowers the Commission to carryout Type Approval of all communications equipment for use in the Nigerian market.�

Samsung Unveils New Smartphones Emma Okonji Samsung Nigeria at the weekend in Lagos, launched two new Galaxy ‘A’ Series smartphones and the Galaxy Note10 Lite smartphone.

The two new Galaxy ‘A’ Series smartphones, which are Galaxy A71 and Galaxy A51, are the latest additions to the popular Galaxy ‘A’Series.

With the introduction of the smartphones, Samsung said it was highlighting the company’s continued effort to bring pioneering technology to all Nigerians by ushering in a new decade of Chief Marketing Officer, Samsung Central Africa, Dudu Mokholo, who reiterated Samsung’s focus on innovation, said: “We are committed to bridging the gap between flagship features and affordability. I believe the Galaxy A Series offers the best value in its segment. Additionally, the power of the Note10 Liteand its famous S Pen is now accessible

to more people in Nigeria.�

The Galaxy A71 and Galaxy A51, the latest addition to the highly successful Galaxy A Series will be released in the country this February. The Galaxy Note10 Lite will also be released in a few weeks’ time. Both devices include flagship features at an affordable price. “We are proud to connect with a new generation of consumers from the value-seekers to the power users. We will continue to listen to the needs of the local market and bring innovation that empowers all,� Mokholo added.

Built to make meaningful innovations and awesome mobile experiences to everyone, the Galaxy A71 and A51 are packed with enhanced features: a longer-lasting battery to keep up with your busy lifestyle, a smarter camera to help capture the entire world. The smartphones come with an Infinity-O display that gives an uninterrupted visual experience.

10TH ANNIVERSARY CELEBRATION

L-R: Head, Brand Strategy, GDM Group, Ademola Oshunniyi; General Manager, Marketing Operations, Bukola Bodunyefa; founder, Victor Afolabi; Chief Operating Officer, Labake Yussuff; and member, Advisory Board, Eko Innovation Centre, Doja Ekeruche, during GDM Clients’ appreciation party to mark the 10th anniversary of the company, held in Lagos...recently ETOP UKUTT

Smile Seeks FG’s Intervention to Cushion Effects of Fibre Cable Cut Emma Okonji Following the recent cut on West African Cable System (WACS) and SAT3 cables that resulted in the disruption of internet services in the country, the Group CEO of Smile Communications, Mr. Ahmad Farroukh, has appealed to the federal government to create an environment where all Nigerian and non-Nigerian cable providers will have active redundancy on each other so that consumers will not be impacted negatively in case of similar occurrence in the future.

According to Farroukh, “We should take learnings from the recent WACS and SAT3 cable cuts that resulted in the disruption of internet services in the country. For example, if submarine cable ‘X’ was subject to a cut, other cables existing in Nigeria should be able to carry on the lost capacity without negatively impacting the end users.�

Farroukh, pleaded that the federal government and the industry regulator to create an environment of active redundancy among fibre optic cable operators.

Smile, the West Africa pioneer 4G LTE broadband service provider, renowned for the primacy

of its customer’s service, regretted any inconvenience caused by the slight disruption in its service rendition in some areas and assured all its stakeholders that their best interest remains upmost in all its consideration.

Against the background of the recent downtime and disruption of internet service occasioned by the cut in the submarine cables, Smile Nigeria has also commended Nigerian cable providers, MainOne and Globacom, for partnering with the company to overcome the challenge swiftly.

In a statement released in Lagos, Smile commended both

MainOne and Globacom for the relentless support both firms offered to the company to aid the quick delivery of additional capacity required during the recent WACS submarine fibre cut.

Expressing his delight, Farroukh, who noted the huge demand for Internet Protocol (IP) capacity from other operators in Nigeria during the period of the fibre optic cable cuts, appreciated the commitment shown by MainOne and Globacom to make quick alternative arrangements with multiple upstream providers to accommodate the Smile telecommunications network.

Chi Limited Supports ‘The Legend of Inikpi’Movie Premiere Guests at the recent movie premiere of “The Legend of Inikpi� were treated to a nutritious wholesome experience by Hollandia Evap Milk.

The glamorous and colourful Epic-in-Gold themed event marked the first full-length movie production by Mercy Johnson-Okojie.

The movie which was set in the 16th Century before the arrival of the colonialists, tells of an impending war between

the flourishing Igala Kingdom and the mighty Bini Kingdom led by Oba Esigie. Prominent Nollywood stalwarts, industry players within the entertainment sector, and supporters of the brand ambassador of Hollandia Evaporated Milk brand were in attendance. A statement explained that while guests waited to be thrilled by the epic movie which featured a stellar Nollywood cast, Hollandia Evap Milk was on ground to nourish them with

tasty and creamy cereal meals, and varying smoothies on menu.

Speaking at the premiere, Marketing Director, Chi Limited, Mrs. Toyin Nnodi, expressed delight and optimism at having vibrant actress and producer, Mercy Johnson-Okojie, as the brand ambassador of the Hollandia Evap Milk brand. “We applaud Mercy JohnsonOkojie on this memorable milestone, and this is further testament to our decision to

associate with her personality.

The strategic partnership is one which helps create value through such engagement platforms in connecting with the consumers.�

Brand Manager, Hollandia Evap Milk, Mrs. Bose Ogunyemi stated, “Regular milk consumption is essential for everyone, and through this consumer engagement, we have showcased how Hollandia Evap Milk nourishes and complements different meal choices.�

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Customs: Supporting Fight against Insecurity Ademola Ogunmola The Nigeria Customs Service (NCS) under Col Hameed Ali (rtd) has expanded beyond just collecting duty for the government. As the gate keeper of Nigerian borders, the NCS in the current dispensation has ensured a water tight screening of all goods that comes into Nigeria.

This is unlike the pre-Hameed Ali Customs where there were allegations that officials were being bribed at port and land borders to allow all manner of weapons into Nigeria, thus compromising the country’s security.

One of such diligent search by Customs officials led to the seizure of arms in January 2017.

The men of the Federal Operations Unit of the NCS had intercepted a truck carrying a container loaded with 661 pieces of pump action rifles along Mile 2 on the Apapa-Oshodi Expressway, Lagos.

Three suspects: Oscan Okafor (an importer), Mahmud Haruna (a clearing agent), and Sadique Mustapha (who accompanied the consignment) were promptly arrested.

Assuming the arms had found its way into the Nigeria your guess is as good as mine. Suffice it to say that the seizure was a mark of changing paradigm in the effectiveness of the Nigeria Customs Service.

As Ali had noted, “such deadly contravention of the law is even more unacceptable considering the fragile security situation in some parts of the country.�

Unlike in the past, when high wire connections swept such crimes under the carpet, it certainly cannot happen under the Customs led by Ali. Ali is not ready to leave the Customs in antiquity operationally. Under him, the agency has experienced a turnaround in leveraging on new technologies in securing the Nigerian land boarders and ports.

Ali, noted recently in a conference that, “over the years, our port system has been adjured poor performance by major right agencies in terms of its competence, in terms of its strategic importance to the realisation of the economic growth and recovery plan. “Hence, the agency must expound on the opportunities presented by the new technologies to fast track complainant traders and punish the offenders. “We have been strengthening our capacity to investigate offences against our laws and impose heavy sanctions that has deterrent factors. “One way to improve our performance is actually to carry out an assessment of our operations identify areas where we have made progress and those were we still have lapses,� the Customs

Ali boss had said.

Leveraging on the federal government’s stance on the Ease of Doing Business and the Executive Order E01, the Hameed Ali-led Customs has breathed fresh into the operation of the agency.

The order imposes collective obligations on most stakeholders to work together to induce and observe orderliness in the operations of the NCS, achieve faster processing of cargo’s clearance, streamlining of procedures, and fight corrupt practices at the nation’s ports.

In the Japanese work theory known as Kaizen, the approach of creating continuous improvement is based on the idea that small, ongoing positive changes can reap major improvements. In order to accelerate the operational efficiency of the Nigeria Customs Service, Ali keyed into the Kaizen’s theory of work improvement when, and in collaboration with world Customs body, he launched a study

Nigeria, Others Urged to Foster Innovation Peter Uzoho African governments must foster innovation and provide hands-on education solutions to young people if the continent is to beat the challenges of the next decade and meet global development targets. “Reality on the ground and the statistics do not meet, they are on parallel lines. There’s more of cram work in our educational system than actually getting us to think out of the box,� Cameroonian founder of “Green Girls, a social business that educates young women from rural communities in the use of renewable energy, Monique Ntumngia, said.

Ntumngia was speaking at a panel discussion held during the launch of the African Development Bank’s (AfDB) African Economic Outlook 2020, recently. The discussion focused on the theme of this year’s report: “Developing Africa’s workforce for the future.�

The Bank’s African Economic Outlook, published annually since 2003, provides headline numbers on Africa’s economic performance and outlook.

The quality of education and low literacy need to be addressed urgently. The need

for Africans to solve African problems in the context of Africa, is critical, the attendees noted.

Green Girls has provided more than 3,000 households with biogas and over 100 households with solar installations.

Ntumngia received the 2019 WWF International President’s Youth award, which recognises people under the age of 30 that promote the cause and impact of nature conservation.

The panel also included Ivorian Minister of National Education, Technical Education and Vocational Training, Kandia Camara, Eswatini’s Deputy Minister of Education, Mpendulo Dlamini and Dr. Erik Berglof, a professor and the Director of the Institute of Global Affairs, London School of Economics and Political Science. “It’s important that we focus on human capital development,â€? Camara said. “Free and universal education for both sexes ‌and we need to strengthen inter-state and inter-regional ties.â€?

Sharing lessons from Eswatini, an African success story in terms of education, and which ranks higher than the world average in global harmonised

test scores, Dlamini said his country had struggled to implement free and compulsory education.

The nation now reviews its education curriculum framework every three years to ensure it is meeting the needs of the people.

On the Bank’s Coding for Employment Program, which aims to create 25 million jobs by 2025 while also providing 50 million African youths with the skills needed to competitively navigate the workplace, Ntumngia said: “... teach them smart solutions.�

Berglof, commended the report for addressing a core issue on the continent— education, training and skills gaps, which affect youth labour productivity.

Berglof called on governments and partners to work on the quality of education and the demand side. “How do we increase returns to education...and develop the broader institutional environment and political stability?� he asked.

For the Bank’s Vice President for Agriculture, Human and Social Development, and the panel’s moderator, Dr. Jennifer Blanke, the discussion underscored the need for African-led solutions. “Africa is in an amazing position to seize the day,� she said.

which is expected to scientifically measure the time taken in clearing the goods between the time of arrival in the ports using the Apapa ports.

The study is meant to undertake an assessment of the clearance business process, collect survey, analyse data and publish result.

The Ali-led Customs Service believes that continuous improvement is the key in ensuring that everything that comes through the sea to our land in a container are properly secured. In collaboration with the federal government the agency now has enough scanners at the ports, boarder entries and airports to ensure that all inbound goods are scanned.

In Customs operation worldwide, the aim of the deployment of non-intrusive equipment such as scanners is to deal with the challenges of trans-border crimes including insurgencies.

One thing that has remained a major challenge

in the Nigerian business environment is that the business space is dominated by stubborn men, who are hell-bent on circumventing rules of procedures.

To tackle this irresponsible disposition to rules of conduct, the Nigeria Customs Service is partnering with shippers’ council to see ensure that every shipping company is held responsible for the content of any goods.

Benin Republic is one of Nigeria’s strategic neighbours as it shares 800 kilometer of land borders with it. To facilitate regional trade, Customs authorities in Nigeria and Benin have adopted single goods declaration, as both countries introduce modern tools for inter-border clearance of goods.

Under the new system, declarations made for imports transiting from either of the countries to the other would be electronically shared to deal with corrupt tendencies and increase security.

The move is aimed at coordinating border management operations to enable stakeholders have seamless operations and facilitate trade between Nigeria and the Republic of Benin. The electronic connectivity is to facilitate trade and reduce cost of doing business while security is boosted.

The electronic platform is meant to integrate the two countries Single Windows trade platforms and also improve the compliance to trade regulatory and fiscal policy measures of both countries.

The platform will create effective, predictable and transparent risk management system and reduction in smuggling activities in both countries and Economic Community of West Africa States (ECOWAS)�.

The platform incorporated other government agencies of both countries with communication technology created to stop the communication gaps that could evolve during transactions.

With the tremendous transformation of the Nigeria Customs Service under the leadership of Ali, it is only proper for Nigerians to join hands with the Service as it continues to prove that Nigeria beyond oil is a possibility.

Nigeria is a potential huge market, with an economy anchored on estimated population of over 200 million vibrant people. Nigerians are enterprising and are very much acknowledged around the world. All that is needed is obedience to constituted authority by avoiding brazen attempts to circumvent customs rules and import only those things that are permissible by the Nigerian law.

With motivated personnel and renewed vigour at the Customs, it is only a matter of time before the Service overtakes oil as the major contributor to the federation accounts.

Ogunmola, writes from Asokoro, Abuja

HP Nigeria Launches ‘Elite Dragonfly’ Laptop Ugo Aliogo HP West Africa has launched the new HP Elite Dragonfly laptop as part of its desire to continue driving innovation.

Speaking at the event launch in Lagos recently, the Managing Director of HP West and Central Africa, Ifeyinwa Afe, said the new product was first of its kind in the country, adding that though the company had introduced many brands of computers in the past, the newly launched brand was unique especially in size, weight and its efficiency level.

She also stated that 85 per cent of parts of the laptop are from ocean-bound plastic, thereby making it environment-friendly. “Every unit of the laptop is from waste materials that people have disregarded, so we collected the waste materials and converted it into this product. “I think the direction that technology companies should be focusing on, should be getting to a stage where every single thought that goes into our manufacturing processes is something that is

environmental sustainable.�

Afe, explained that in terms of competition in the marketplace, manufacturers compete where it is favourable, therefore noting that the survival of technology companies are based on competition. The HP MD further said: “Competition is not my watchword. My watchword is making sure that the lives of customers are transformed. At HP, we are doing a lot in the area of environmental sustainability. “At the ground level, we are a lot in anti-counterfeit seminars and awareness which involves letting people know the dangers of buying fake products which they don’t know the sources of these products. “We work with several external bodies to get rid of fake products. In terms of full engagement, I sit on the board of APRON-which is a producer responsible organisation. “What we are doing is that we are engaging with National Information Technology Development (NITDA) to make sure that we are bringing social awareness and accountability to producers

such as HP who brings in this product, and we make sure that a portion of that is going into skills transfer, recycling, and the community is safe for everyone.�

The Elite Dragonfly tagged, “lighter than air� is part of HP’s Elite book range of commercial laptops with 360-degree convertibility and is designed to push the boundaries of life and work for the ultimate mobile experience for professionals.

The chassis of the laptop is made from a single piece of magnesium alloy, which ensures that the cheapest model weighs under 1kg – making it the world’s lightest 2-in-1 notebook.

The most powerful version of the Elite Dragonfly comes with an 8th-generation Intel Core i7 processor, 16GB RAM, and 512GB NVMe SSD storage. Users can also choose between a two- or four-cell battery, the latter of which offers up to 24 hours of battery life.

The laptop uses the company’s fast charge technology, which allows users to charge their notebook up to 50 per cent in just 30 minutes. It also offers gigabit 4G LTE capabilities as well as Wi-Fi 6.

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IMAGES

L-R: Deputy Country Director, International Foundation for Electoral System (IFES), Mr. Seray Jah; Project, Coordinator/Executive Director, Kimpact Development Initiative(KDI), Mr. Bukola Idowu; National Commissioner (INEC), Mrs. May Agbamuche and Country Director IFES, Mr. Hermann Thiel, during the unveiling and oďŹƒcial presentation of a book on monitoring of election petition tribunal in Nigeria by KDI in Abuja...recently PHOTO: ENOCK REUBEN

T H I S D AY Ëž ÍąËœ Í°ÍŽÍ°ÍŽ

Photo Editor ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ ÔËÖË Email Ă‹ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜Ë›Ă‹Ă”Ă‹Ă–Ă‹ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ù×

L-R: Director General, PAN, Ibrahim Tanko Mohammed; Deputy Governor of Kano State, Dr. Nasiru Yusuf Gawuna; Governor Abdullahi Umar Ganduje of Kano State; Director General, National Directorate of Employment (NDE), Dr. Nasiru Ladan Mohammed; and others, during the commissioning of one of the 10 automobile work constructed by Gov Abdullahi Umar Ganduje in Kano..recently

L-R: Chief Operating OďŹƒcer, The Elevation Church, Tunji Iyiola; Director of Research & Chief Economist, Nigerian Economic Summit Group (NESG), Dr Olusegun Omisakin; Executive Secretary/CEO, Nigerian Investment Promotion Commission (NIPC), Yewande Sadiku; Co-Lead Pastor, The Elevation Church, Bolarinwa Akinlabi; Lead Pastor, The Elevation Church/Convener, Vantage Forum, Godman Akinlabi and CEO, Access Bank Plc, Dr Herbert Wigwe during the 2020 Vantage Forum themed ‘’Africa’s 1.3Billion People Market: Harnessing Opportunities Through Business Innovation’’ in Lagos...recently

L -R ; APC National Chairman , Comrade Adams Oshiomhole ; President Muhammadu Buhari and the new Imo state Governor , Mr. Hope Uzodinma during the visit of Hope to the Presidential Villa, Abuja...recently PHOTO: GODWIN OMOIGUI

L-R; Federal Controller of Works, Niger State, Engr. Iheanacho Felix Umeh; Director, Highways, Construction and Rehabilitation, Engr. Yemi Oguntominiyi; Hon. Minister of Works & Housing, Mr Babatunde Fashola,SAN and Federal Controller of Housing,Niger State, Esv. Michael Ibegbu, during the inspection of the progress of work on the National Housing Programmne Phase 2 in Kpakungu, Minna, Niger State as part of the Hon.Minister’s Two-Day inspection tour of Federal Government’s Highway and Housing Projects in the State...recently

L-R: Managing Director TAJBank, Mr Norfadelizan Abdulrahman; Clerk of the National Assembly, Mohammed Ataba Sani Omolori; Co-Founder/CMO, Mr Sherif Idi; Others behind are Founder /COO TAJBank Mr Hamid Joda; and Director Public Aairs, National Assembly, Mr Yahaya Dan-Zaria during the oďŹƒcial launch of the Bank’s oďŹƒce at the National Assembly, Abuja...recently

L-R: Chief Press Secretary to the Governor, Mr. Olayinka Oyebode; Commissioner for Budget and Economic Planning, Mr. Femi Ajayi; and Permanent Secretary, Ministry of Budget And Economic Planning, Mr. Leke Adefolaju, during the Presentation of Detailed Analysis of the 2020 Budget to the Stakeholders in Ado-Ekiti..... recently

T H I S D AY Ëž ÍąËœ Í°ÍŽÍ°ÍŽ

35

L-R: Vice President, The Apostolic Church Grammar School Old Students’ Association (TACGSOSA), Mr. Olufemi Solomon Alabi; Wife of the out going President, Olufunke Gbosibo; Incoming President, Folorunso Oduntan Omosa; His wife, Suzan; Out going President, Ademola Gbosibo; and Vice President, Ibijoke Balogun, during the Apostolic Church Grammar School Old Students’ Association (TACGSOSA) 2019 annuall reunion luncheon & swearing in of 2020-2022 Executive Committee members in Lagos...recently

L-R: Minister of Police Aairs, Muhammadu Dingyadi; Minister of Defence, Major General Bashir Magashi (rtd); Minister of Interior, Rauf Aregbesola and the Inspector General of Police, Mohammed Adamu during the ďŹ rst National Security Council meeting held at the Council Chambers of the Presidential Villa, Abuja...recently PHOTO: GODWIN OMOIGUI

L-R: Faculty, Ausso Leadership Academy, Christopher Stephenson; President, Ausso Leadership Academy Alumni Association, Tosin Adefeko; Founder and Entrepreneur-in-Residence, Ausso Leadership Academy Austin Okere; and Vice President, Ausso Leadership Academy Alumni Association, Mike Mornu, at the Academy’s Alumni inaugural launch in Lagos..recently

L-R: Chairman, Channels TV, John Momoh; Minister of Labour Chris Ngige; and President Buhari, after receiving in audience Awardees of National Productivity Order of Merit Award in State House, Abuja...recently

L-R: Head, Digital Imaging Category, Sony Middle East & Africa, Murat Gebeceli; Vinod Danani and Sham Doulatram; both of Kontakt Pro Nig Ltd; Head, Business Development, Digital Imaging, Sony Middle East & Africa, Sajeer Shamsu; Category Head, Sony Middle East & Africa, Jason Rego; and Business Development Specialist, Sony Middle East & Africa, Apoorv Soni; at the launch of the latest range of Sony Alpha mirrorless interchangeable lens cameras in Nigeria in Lagos...recently

L-R: Majority Leader, Kwara State House of Assembly (KWHA), Hon. Olawoyin Magaji; Deputy Speaker, KWHA, Hon. Raphael Adetiba; Speaker, KWHA, Rt. Hon. Danladi Saliu; and Kwara State Governor, AbdulRahman AbdulRazaq; during the signing of the 2020 appropriation bill at government house, Ilorin...recently

L-R: Chairman NUJ, FCT Council Emma Ogbeche; Executive Secretary, FCDA, Umar Jubril representing FCT Minister and Director Nigeria Press Council, Stella Jibri during the oďŹƒcial commissioning of NUJ- FCT Council Secretariat in Abuja...recently PHOTO: JULIUS ATOI

36

T H I S D AY Ëž ÍąËœ 2020

BUSINESS/MONEYGUIDE

PMI Grows at Slow Pace in January Obinna Chima The Manufacturing Purchasing Managers’ Index (PMI) stood at 59.2 index points in January, indicating expansion in the manufacturing sector for the 34th consecutive month.

In the review month, the index grew at a slower rate when compared to December.

According to the Central Bank of Nigeria’s (CBN) PMI report for January 2020, released at the weekend, revealed that of the 14 surveyed sub-sectors, 11 reported growth, in the review month in petroleum and coal products; transportation equipment; paper products; furniture and related products; plastics and rubber products; primary metal; food, beverage and tobacco products; chemical

and pharmaceutical products; fabricated metal products; textile, apparel, leather and footwear and cement.

It, however, revealed that electrical equipment sub-sector remained unchanged while printing and related support activities and non-metallic mineral products recorded decline. “At 59.6 points, the production level index for manufacturing sector show growth for the 35th consecutive month in January 2020. “However, the index indicated a slower growth in the current month, when compared to its level in December 2019. Nine of the 14 manufacturing sub-sectors recorded increased production level, three remained unchanged while two recorded decline,� the report added.

Also, it showed that at 59.7 points, the new orders index grew for the 34th consecutive month, indicating increases in new orders in January 2020.

The index, according to the report grew at a slower rate, when compared to its level in December 2019.

In all, 10 sub-sectors reported growth, two remained unchanged while two recorded decline in the review month. “The manufacturing supplier delivery time index stood at 59.1 points in January 2020, indicating slower supplier delivery time. The index has recorded growth for thirty-two consecutive months. “Twelve of the 14 subsectors recorded improved suppliers’ delivery time, while two reported slower delivery time in the review period,� it added

L-R: Chief Financial Officer, UPDC Plc, Folakemi Fadahunsi; Deputy Chief Executive Officer, Deborah NicolOmeruah; Chief Executive Officer, Fola Aiyesimoju; Partner, Banwo & Ighodalo, Azeezah Muse-Sadiq, and Executive Director, Stanbic IBTC Capital, Oyinda Akinyemi, during UPDC’s rights issue signing ceremony in Lagos... recently

MARKET INDICATORS

Dakwambo Seeks Legal Backing for Financial Reforms James Emejo Ă“Ă˜ ĂŒĂ&#x;ÔË Former Governor of Gombe State, Dr. Ibrahim Dakwambo, has urged the federal government to document as well as back all financial reforms initiatives by law so that politicians do not take them for granted.

He noted that except reforms are catalogued and supported by legal framework, politicians can take advantage of the inherent loopholes for political gains.

Speaking at the public presentation/launch of the book, “Treasury Single Account Policy in Nigeria�, authored by the Director, Finance and Administration, Federal Ministry of Foreign Affairs, Mr. Salawu Zubairu, Dakwambo, who prior to his incursion into politics, was a former Accountant General of the Federation (AGF), also

highlighted the volume of resistance which often met the implementation of financial reform programmes while at the Treasury House.

He also recounted instances where his life had been under threat from elements opposed to change. He said: “For people like me, we had to be given extra security, like they had to change our houses, we had to be accompanied by police because of the threats over the implementation of financial reforms.� He also stressed that politicians could take advantage of loose reforms to win election except such initiative are properly ring-fenced against abuse.

He said: “I must tell you if I want to win elections today and go out there and say if I win elections today there’s no more TSA, won’t I get their votes? But

am I doing the right thing? But for me as a politician I want to win and anyhow I win I have no problem.�

The former governor therefore, challenges the incumbent AGF, Mr. Ahmed Idris to ensure that existing finance Acts are reviewed so they politicians who, “come and go,� do not influence them.

He also praised both the author and Idris for the documentation of one of the most important financial reforms- TSA- so far undertaken by the treasury.

He expressed hope that other similar reports will be documented in the same way, particularly going by his experience as a politician.

Idris, however, said the book will among other things, be of immense benefits to state governments planning to implement the TSA.

Africa’sEconomySeenGrowingDespiteExternalShocks Africa’s economic growth remained stable in 2019 at 3.4 percent and is on course to pick up to 3.9 per cent in 2020 and 4.1 per cent in 2021, the African Development Bank’s (AfDB) 2020 African Economic Outlook (AEO) has stated.

The slower than expected growth was partly due to the moderate expansion of the continent’s big five countries — Algeria, Egypt, Morocco, Nigeria, and South Africa – whose joint growth was an average rate of 3.1 percent, compared with the average of 4.0 percent for the rest of the continent.

The Bank’s flagship publication, published annually since 2003, provides headline numbers on Africa’s economic performance

and outlook. The 2020 edition, launched at the Bank’s Abidjan headquarters, was attended by former Liberian president Ellen Johnson Sirleaf, African ministers, diplomats, researchers, and representatives of various international bodies.

Johnson Sirleaf commended the Bank for upholding the confidence of the people of the continent â€œâ€Ś because we trust you. As simple as that. Because we trust you to share our vision.

We trust you to understand our limitations.�

Referring to Africa’s fastestgrowing economies, she said, “There are stars among us‌and we want to applaud them. We want to see more, particularly for countries like mine, which

have been left behind, so that more can be done to give them the support that they need.�

In 2019, for the first time in a decade, investment expenditure, rather than consumption, accounted for over 50 per cent of Gross Domestic Product growth in the continent.

This shift could help sustain and potentially accelerate future growth in Africa, increase the continent’s current and future productive base, while improving productivity of the workforce.

Overall, the forecast described the continent’s growth fundamentals as improved, driven by a gradual shift toward investments and net exports, and away from private consumption.

Ecobank Agribusiness Summit Set to Hold Ecobank Nigeria has said all is set for its Agric Business Summit 2020.

The agribusiness summit is part of the bank’s determination to further showcase the potentials in the agricultural sector of the nation’s economy in partnership with Vanguard newspapers, the Economic Forum Series and Nigeria Agribusiness Group (NABG).

The summit with the theme: ‘Unlocking productivity and investment opportunities across

the Agribusiness value chain,’ is scheduled for February 13, 2020, in Lagos.

Ecobank Nigeria had also announced an Agriculture Businesses Finance Scheme where it plans to disburse additional loan of N70 billion for practitioners in different value chains of agriculture within the next two years.

The Head, Agribusiness, Ecobank Nigeria, Mojisola Oguntoyinbo, said the summit was part of the bank’s continuous

contribution to the growth and development of the agriculture sector of the nation’s economy.

According to her, a pool of notable thought leaders and industry experts have been assembled to address key and current issues in the agricultural space as it relates to current economic developments and participants will also be given the opportunity to exhibit their products and services within the agriculture value chain.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

SEPTEMBER 2019 Money Supply (M3)

35,029,779.72

-- CBN Bills Held by Money Holding Sectors

7,374,356.91

Money Supply (M2)

27,655,422.82

-- Quasi Money

116,533,891.21

-- Narrow Money (M1)

11,121,531.60

---- Currency Outside Banks

1,625,047.69

---- Demand Deposits

9,496,483.91

Net Foreign Assets (NFA)

13,911,335.83

Net Domestic Assets(NDA)

21,118,443.89

-- Net Domestic Credit (NDC)

35,918,179.45

---- Credit to Government (Net)

10,452,199.38

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

11,007,422.79

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

25,465,980.07

---- Credit to Private Sector (CPS)

-14,799,735.56

--Other Assets Net

7,000,253.07

Reserve Money (Base Money

2,005,600.83

--Currency in Circulation

4,677,530.81

--Banks Reserves

317,121.43

Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE Ëœ ͹͎ Í°ÍŽÍ°ÍŽ

The price of OPEC basket of fourteen crudes stood at $58.80 a barrel on Thursday, compared with $61.04 the previous day, according to OPEC Secretariat calculations.The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

37

T H I S D AY Ëž ÍąËœ 2020

MARKET NEWS

Stanbic IBTC Holdings Records N75 Billion Profit After Tax Goddy Egene Stanbic IBTC Holdings Plc recorded a profit after tax of N75.035 billion for the year ended December 31, 2019, showing a marginal growth over the N754.44 billion posted in the 2018.

According to the interim results, the bank recorded gross earnings of N233.808 billion in 2019, indicating a growth of 5.15 per cent compared to N222.4 billion in 2018. Improvement in

gross earnings was boosted by an increase in interest income, which rose from N118.382 billion the previous year to N120.412 billion in 2019.

Non-interest revenue rose by six per cent, from N102.604 billion to N108.755 billion, while total income grew from N180.8 billion to N186.6 billion in 2019.

Profit before tax (PBT) rose from N88.15 billion for 2018 to N90.925 billion, just as PAT grew from N74.4 billion to N75.035 billion. The slower growth in PAT

P R I C E S MAIN BOARD

F O R DEALS

was due to higher tax paid in 2019 that stood at N15.9 billion, as against N13.7 billion in 2018.

Stanbic IBTC Bank is a member of Johannesburg-headquartered Standard Bank, itself Africa’s biggest lender by assets. With over 180 branches all over Nigeria, its operations cover personal and commercial banking.

The Chief Executive Officer of Stanbic IBTC Holdings Plc, Mr. Yinka Sanni, recently assured stakeholders that group remained strong, stable, sustainable in its

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

QUANTITY TRADED

VALUE TRADED ( N )

operations and would continue to deliver long value. “We remain committed to operating to the highest level of corporate governance standards while delivering sustainable long-term value to clients and other stakeholders through world-class innovative operations and our customercentric approach,� Sanni said.

He said that the group’s achievements were an indication that its strategy was delivering on set goals and

T R A D E D MAIN BOARD

A S

objectives, assuring stakeholders that the organisation would continue to invest in its people, processes, and its communities to ensure business sustainability.

According to him, in 30 years, Stanbic IBTC has built a culture of excellence in providing its clients with innovative financial products and services as well as contributing to the attainment of the developmental aspirations of the country. “Stanbic IBTC has grown steadily from its early days as

O F

a merchant bank to a leading end-to-end financial services provider in the countrytoday, with a balance sheet size close to N2 trillion and a market capitalisation valued at approximately N500 billion in December 2018,� Sanni said.

He explained that the bank, in a clear demonstration of its confidence in Nigeria, facilitated a staggering $589.84 million capital inflow into the country during the second quarter of this year.

3 0 / 0 1 / 2 0 2 0 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

38

˾ MONDAY, FEBRUARY 3, 2020

DKE z͕ & Zh Zz ϯZ ͕ ϮϬϮϬ ŽŵĞƐƟĐ ƋƵŝƟĞƐ DĂƌŬĞƚ͗ >ŽĐĂů ŽƵƌƐĞ ůŽƐĞƐ ŝŶ ƚŚĞ

THISDAY AFRINVEST 40 INDEX

Red͙ ^/ ^ŚĞĚƐ Ϯ͘ϳй ǁͬǁ

The momentum in the local bourse weakened last week ǁŝƚŚ ƚŚĞ ŵĂƌŬĞƚ ƌĞĐŽƌĚŝŶŐ ŝƚƐ ĮƌƐƚ ǁĞĞŬůLJ ůŽƐƐ ĨŽƌ ƚŚĞ LJĞĂƌ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Ticker

Current Price

THISDAY AFRINVEST 40

ĨŽůůŽǁŝŶŐ ĮǀĞ ĐŽŶƐĞĐƵƟǀĞ ĚĂLJƐ ŽĨ ůŽƐƐĞƐ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞdž ĨĞůů Ϯ͘ϳй ƚŽ ĐůŽƐĞ Ăƚ Ϯϴ͕ϴϰϯ͘ϱϯ

ƉŽŝŶƚƐ͘ Ɛ Ă ƌĞƐƵůƚ͕ zd ƌĞƚƵƌŶ ĚĞĐůŝŶĞĚ ƚŽ ϳ͘ϱй

Price Previous Change Current Price YTD Weighting Change

Price Change Index to Date

2,283.73

-0.91%

1 MTN Nigeria Communications PLC

119.60

-0.3%

29.6%

55.6% 128.4% 13.9%

9.7%

2 Airtel Africa PLC

298.90

0.0%

13.7%

0.0%

0.0%

ROE

ROA

13.8%

5.0%

P/E

P/BV

Divindend Earnings Yield Yield

5.2x

0.7x

6.1%

16.3%

14.2x

24.0x

2.5%

7.0%

3.6%

3 Guaranty Trust Bank PLC

30.00

-3.2%

10.7%

1.0%

2.7%

32.9%

5.4%

4.5x

1.4x

9.1%

22.1%

while ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌĞĚƵĐĞĚ ďLJ േϰϬϰ͘ϱďŶ ƚŽ

4 Zenith Bank PLC

20.85

-1.4%

7.0%

12.1%

11.5%

24.3%

3.4%

3.3x

0.8x

13.3%

30.6%

േϭϰ͘ϴƚŶ͘ ĐƟǀŝƚLJ ůĞǀĞů ŝŵƉƌŽǀĞĚ ĂƐ ĂǀĞƌĂŐĞ ǀŽůƵŵĞ ĂŶĚ

6 Dangote Cement PLC

ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ Ϯϲ͘Ϯй ĂŶĚ ϭϯ͘ϲй ƌĞƐƉĞĐƟǀĞůLJ ƚŽ ϯϭϮ͘Ϯŵ units and േϱ͘ϮďŶ͘ /Ŷ ƚĞƌŵƐ ŽĨ ǀŽůƵŵĞ͕ E/d, ;ϭϱϬ͘ϯŵ ƵŶŝƚƐͿ͕ 'h Z Edz ;ϭϰϭ͘ϵŵ ƵŶŝƚƐͿ ĂŶĚ h ;ϳϱ͘Ϯŵ ƵŶŝƚƐͿ

5 Nestle Nigeria PLC

1,380.00

0.0%

4.5%

-6.1%

-6.1%

82.9%

26.3%

23.4x

19.4x

4.9%

4.3%

179.90

0.0%

5.5%

26.7%

26.7%

47.8%

23.1%

7.9x

3.6x

9.2%

12.6%

22.7%

2.2%

2.5x

0.6x

5.4%

40.2%

2.9x

0.5x

10.6%

35.0%

7 Access Bank PLC

9.90

2.6%

4.1%

-1.0%

-2.0%

8 United Bank for Africa PLC

8.00

-0.6%

3.1%

11.9%

11.1%

9 FBN Holdings Plc

6.55

-5.8%

2.8%

6.5%

0.8%

10.2%

1.2%

4.6x

0.4x

4.0%

22.0%

10 Nigerian Brew eries PLC

55.00

0.0%

2.5%

-6.8%

-6.8%

10.2%

4.6%

25.7x

2.7x

4.2%

3.9%

11 Lafarge Africa PLC

15.25

-3.2%

2.7%

-0.3%

10.5%

50.3%

23.4%

15.3x

0.7x

605.00

0.0%

2.2%

-8.0%

2.2%

14.4%

9.5%

3.9x

0.5x

6.4%

25.6% 18.3%

6.5%

led the chart while DdEE (േϲ͘ϭďŶͿ͕ 'h Z Edz (േϰ͘ϯďŶͿ

12 SEPLAT Petroleum Development C 13 Stanbic IBTC Holdings PLC

38.25

-7.8%

and E/d, (േϯ͘ϮďŶͿ ůĞĚ ďLJ ǀĂůƵĞ͘

1.9%

-6.7%

-4.4%

27.3%

4.1%

5.5x

1.4x

4.8%

14 Flour Mills of Nigeria PLC

22.00

-1.6%

1.1%

11.7%

11.7%

3.6%

1.3%

17.1x

0.6x

5.5%

9.00

0.0%

0.9%

-5.3%

-5.3%

-48.8%

-4.0%

15 International Brew eries PLC

WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ďĞĂƌŝƐŚ ĂƐ ϰ ŽĨ ϲ ŝŶĚŝĐĞƐ ĚĞĐůŝŶĞĚ ǁͬǁ͘ dŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ Ϭ͘ϵй ĂŶĚ Ϭ͘ϭй ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ in >/E< ^^hZ ;нϭϴ͘ϴйͿ͕ E D ;нϵ͘ϭйͿ͕ s/d &K D

;нϭϬ͘ϬйͿ ĂŶĚ , DW/KE ;нϳ͘ϴйͿ͘ ŽŶǀĞƌƐĞůLJ͕ ƉƌŝĐĞ declines in & E, (-ϭϬ͘ϯйͿ͕ ^d E / (-ϭϬ͘ϬйͿ͕ t W K (ϭϮ͘ϵйͿ ĂŶĚ W ;-ϵ͘ϭйͿ ĐŽŵƉĞůůĞĚ ƚŚĞ ƐŚĂƌƉĞƐƚ ůŽƐƐĞƐ ŝŶ ĂŶŬŝŶŐ ĂŶĚ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚŝĐĞƐ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ &Z/ d ĂŶĚ Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ ƉĂƌĞĚ Ϯ͘ϱй ĂŶĚ ϭ͘ϭй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƐĞůů ƉƌĞƐƐƵƌĞ ŝŶ DdEE (-ϰ͘ϯйͿ͕ d ZE (-Ϯϯ͘ϴйͿ ĂŶĚ dKd > (-ϴ͘ϱйͿ͘

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϰdž ĂƐ ϭϲ ƟĐŬĞƌƐ

16 Ecobank Transnational Inc

7.45

0.0%

1.0%

14.6%

13.7%

13.8%

1.0%

2.4x

0.4x

2.15

1.9%

0.7%

4.9%

6.4%

12.5%

1.4%

2.1x

0.3x

5.1%

47.3% 16.6%

18 11 PLC

147.90

0.0%

0.6%

0.0%

0.0%

24.1%

10.9%

6.0x

1.3x

5.8%

68.00

0.0%

0.7%

22.3%

22.3%

18.3%

13.2%

12.1x

2.2x

4.4%

8.3%

20 Dangote Sugar Refinery PLC

13.80

0.0%

0.5%

1.5%

-1.4%

19.6%

11.6%

8.2x

1.6x

8.3%

12.2%

16.4x

0.97

4.3%

0.5%

-2.0%

-9.3%

11.7%

2.6%

22 Unilever Nigeria PLC

21 Transnational Corp of Nigeria

15.00

0.0%

0.3%

-31.8%

-27.5%

-5.6%

-3.5%

23 Guinness Nigeria PLC

30.20

0.0%

0.4%

0.5%

0.5%

4.8%

2.6%

15.7x

0.7x

5.0%

6.4%

1.90

-1.6%

0.4%

2.7%

4.4%

7.8%

1.0%

2.1x

0.2x

7.4%

46.9%

26 UAC of Nigeria PLC

8.90

-1.1%

0.3%

3.5%

0.0%

-24.5%

-11.3%

4.6x

0.5x

7.1%

21.9%

27 PZ Cussons Nigeria PLC

5.10

-9.7%

0.2%

-9.7%

-9.7%

-4.0%

-2.0%

0.5x

2.9%

-8.1%

28 Custodian and Allied Insurance

6.00

0.0%

0.3%

0.0%

0.0%

17.5%

7.0%

4.9x

0.8x

7.5%

20.3%

4.0%

24 FCMB Group Plc

29 Presco PLC 30 Union Bank of Nigeria PLC 31 Total Nigeria PLC 32 Oando PLC

ĞĂƌŶŝŶŐƐ ƌĞůĞĂƐĞĚ ůĂƐƚ ǁĞĞŬ ŚĂƐ ďĞĞŶ ůĂƌŐĞůLJ ŵŝdžĞĚ ĂŶĚ ŝŶƐƵĸĐŝĞŶƚ ƚŽ Ɛƚ ŝŶǀĞƐƚŽƌ ĐŽŶĮĚĞŶĐĞ͘

6.1% -4.9%

-4.6%

0.2%

4.9%

4.9%

5.2%

3.0%

12.8x

1.9x

5.90

-1.7%

0.2%

-1.7%

-2.5%

7.0%

1.1%

9.4x

0.7x

7.8% 10.6%

107.00

0.0%

0.2%

-3.5%

-3.5%

8.8%

2.0%

13.9x

1.3x

3.70

2.8%

0.1%

-7.3%

-7.3%

14.5%

2.6%

1.6x

0.2x

16.5%

5.8%

20.9x

3.6x

7.2%

4.8%

2.8x

0.7x

9.2%

35.8%

0.5x

4.3%

17.7%

33 NASCON Allied Industries PLC

15.00

0.0%

0.2%

15.8%

15.8%

22.50

0.0%

0.2%

13.1%

13.1%

0.70

1.4%

0.1%

-5.4%

2.9%

9.0%

0.9%

36 Forte Oil PLC

20.60

0.0%

0.1%

13.8%

14.4%

7.6%

1.3%

37 Cement Co Northern Nigeria PLC

18.10

0.0%

0.1%

0.0%

0.0%

5.9%

5.4%

70.00

0.0%

0.1%

30.1%

30.1%

17.8%

4.45

0.0%

0.0%

-9.2%

-9.2%

3.6%

5.7x

13.1%

7.2% 62.8%

1.5x

-1.3%

12.0x

0.7x

2.2%

8.3%

12.5%

6.4x

1.1x

1.9%

15.7%

1.8%

42.0x

0.6x

3.4%

2.4%

38 Continental Reinsurance PLC 39 Beta Glass PLC

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

Vo lum e

P ric e C hg %

T o p 10 G a i n e r s T ic k er

P ric e

P ric e C hg % 9.5%

Z EN IT H B A N K

47.4

-1.4%

C OUR T VILLE

0.23

UN ILEVER

44.1

0.0%

J A IZ B A N K

0.72

9.1%

UB A

30.2

-0.6%

C H A M P ION

0.97

6.6%

GUA R A N T Y

26.3

-3.2%

T R A N SC OR P

0.97

4.3%

A C C ESS

23.9

2.6%

OA N D O

3.70

2.8%

M B EN EF IT

22.2

0.0%

A C C ESS

9.90

2.6%

FB NH

20.5

-5.8%

LIVEST OC K

0.53

1.9%

T R A N SC OR P

17.4

4.3%

F ID ELIT YB K

2.15

1.9%

FCM B

14.5

-1.6%

WEM A B A N K

0.70

1.4%

F ID ELIT YB K

12.9

1.9%

C UT IX

1.41

0.7%

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

Afrinvest West Africa Limited

3.1% 10.0%

49.85

34 Julius Berger Nigeria PLC

E /D d, ;нϭϳ͘ϬйͿ ĂŶĚ s/d &K D ;нϭϬ͘ϬйͿ ůĞĚ ƚŚĞ

ƚŚĞ ŵĂƌŬĞƚ ǁŽƵůĚ ĐŽŶƟŶƵĞ ƚŚŝƐ ĚŽǁŶƚƌĞŶĚ ĞƐƉĞĐŝĂůůLJ ĂƐ

0.6x 1.2x

25 Sterling Bank PLC

ŐĂŝŶĞĚ ĂŐĂŝŶƐƚ ϰϰ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ >/E< ^^hZ ;нϭϴ͘ϴйͿ͕

and dZ E^ (-ϭϳ͘ϭйͿ ůĞĚ ƚŚĞ ĚĞĐůŝŶĞƌƐ͘ tĞ ďĞůŝĞǀĞ ƚŚĂƚ

41.8%

19 Okomu Oil Palm PLC

40 Transcorp Hotels Plc

gainers while d ZE (-Ϯϯ͘ϴйͿ͕ ,KE z&>KhZ (-ϭϳ͘ϴйͿ

5.8% -15.6%

17 Fidelity Bank PLC

35 Wema Bank PLC

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

4.5x

T o p 10 L o s e r s

T ic k er

Value

P ric e C hg %

P ric e

P ric e C hg %

Z EN IT H B A N K

994.6

-1.4%

T ic k er NA HCO

2.66

-9.8%

GUA R A N T Y

790.2

-3.2%

PZ

5.10

-9.7%

UN ILEVER

661.6

0.0%

UN IT YB N K

0.58

-9.4%

M TNN

335.8

-0.3%

H ON YF LOUR

0.97

-9.3%

UB A

241.8

-0.6%

CA P

A C C ESS

226.2

2.6%

UP D C R EIT

FB NH

136.9

-5.8%

CHA M S

D A N GC EM

114.7

0.0%

ST A N B IC

UA C N

90.6

-1.1%

P R ESC O

80.3

-4.6%

25.00

-9.1%

3.10

-8.8%

0.32

-8.6%

38.25

-7.8%

C H IP LC

0.36

-7.7%

ET ER N A

2.40

-7.7%

Asset Management

Investment Research

Ayodeji Ebo | aebo@afrinvest.com

Ola Belgore | obelgore@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Adedoyin Allen | aallen@afrinvest.com

Oluwarotimi Ashimi | oashimi@afrinvest.com

Adedayo Bakare | abakare@afrinvest.com

Brokerage

39

MONDAY, FEBRUARY 3, 2020 ˾ T H I S D AY

MARKET NEWS

Interswitch Limited Lists N23Billion Bond on Nigerian Stock Exchange Goddy Egene The Nigerian Stock Exchange (NSE) last Friday listed Interswitch Limited’s N23billion bond.

Interswitch Limited is a leading technology-driven company with a focus on the digitisation of payments in Nigeria and other

African countries. The Callable Senior Unsecured Bond, with a tenor of seven years, at a fixed rate of 15 per cent, is part of a company’s N30 billion Debt Issuance Programme issued through a Special Purpose Vehicle – Interswitch Africa One Plc.

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

Commenting on the listing, the Chief Executive Officer of the NSE, Mr. Oscar Onyema, congratulated the management of Interswitch Limited and the professional parties to the issue for a successful debt capital raise and the subsequent listing of the bond on NSE.

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 30Jan-2020, unless otherwise stated.

“We are pleased to be a partner to Interswitch Limited in its quest to expand its footprints by raising fresh capital. We see a win for Interswitch as a win for Nigeria.

As a sustainable Exchange and a premiere listing destination, we are committed to supporting our issuers with tailored financing

options that will place them in a vantage position to compete in the regional and global markets,” Onyema said.

Also commenting, Group Managing Director/Founder Interswitch Limited, Mr. Mitchell Elegbe said: “We are delighted with the outcome of our capital

raising efforts. We have evolved over the past 17 years into a technology unicorn focused on providing digital solutions to customers in Nigeria and across Africa. We, therefore, see this listing as a first step in a new phase of our journey and we are determined to keep going.”

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

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

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.90 0.91 7.08% ACAP Income Funds 0.76 0.76 33.76% 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 7.89% AIICO Balanced Fund 2.48 2.53 0.65% info@anchoriaam.com ANCHORIA ASSET MANAGEMENT LIMITED Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 6.48% Anchoria Equity Fund 107.87 108.28 5.50% Anchoria Fixed Income Fund 1.18 1.18 3.38% 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 16.32 16.81 6.56% ARM Discovery Fund 363.15 374.10 5.12% ARM Ethical Fund 30.59 31.51 5.16% ARM Money Market Fund 1.00 1.00 7.81% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 102.27 102.99 6.45% AXA Mansard Money Market Fund 1.00 1.00 6.26% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 0.09 0.07 8.66% Paramount Equity Fund 13.08 13.27 4.32% Women's Investment Fund 116.16 117.24 5.23% 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 8.54% Cordros Milestone Fund 2023 106.84 107.48 Cordros Milestone Fund 2028 116.99 117.78 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 5.68% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 6.04% EDC Nigeria Fixed Income Fund 1,183.03 1,185.05 1.80% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,318.48 1,319.62 2.12% FBN Balanced Fund N/A N/A N/A FBN Money Market Fund 100.00 100.00 7.37% FBN Nigeria Eurobond (USD) Fund - Institutional 119.70 119.98 0.39% FBN Nigeria Eurobond (USD) Fund - Retail 120.42 120.69 0.49% FBN Nigeria Smart Beta Equity Fund N/A N/A N/A FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 9.31% Legacy Debt Fund 3.68 3.68 0.60% Legacy Equity Fund 1.18 1.21 4.65% Legacy USD Bond Fund 1.09 1.09 0.34% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,163.04 3,200.79 6.07% Coral Income Fund 3,101.30 3,101.30 13.14% FSDH Treasury Bills Fund 100.00 100.00 8.45% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 5.52% Nigeria Entertainment Fund 119.54 119.98 11.16%

GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 6.34% Vantage Balanced Fund 2.27 2.30 5.47% Vantage Guaranteed Income Fund 1.00 1.00 11.45% Kedari Investment Fund (KIF) 140.73 141.23 12.77% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.23 1.25 5.23% Lotus Halal Fixed Income Fund 1,109.01 1,109.01 0.98% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A PACAM EuroBond Fund N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 139.96 141.34 10.43% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.01 1.01 0.77% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,521.35 2,532.80 4.31% Stanbic IBTC Bond Fund 210.33 210.33 0.56% Stanbic IBTC Ethical Fund 0.88 0.89 6.18% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 1.00% Stanbic IBTC Iman Fund 154.92 156.64 4.89% Stanbic IBTC Money Market Fund 100.00 100.00 6.66% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 6.19% Stanbic IBTC Dollar Fund (USD) 1.16 1.16 0.58% Stanbic IBTC Shariah Fixed Income Fund 118.18 118.18 0.00% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.18 1.20 1.63% United Capital Bond Fund 1.69 1.69 15.58% United Capital Equity Fund 0.69 0.70 -3.63% United Capital Money Market Fund 1.00 1.00 10.06% United Capital Eurobond Fund 111.58 111.58 8.05% United Capital Wealth for Women Fund 1.08 1.08 6.79% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 10.84 11.00 5.63% Zenith Ethical Fund 12.09 12.24 4.20% Zenith Income Fund 22.97 22.97 3.35% Zenith Money Market Fund 1.00 1.00 5.22%

REITS NAV Per Share

Yield / T-Rtn

3.40 118.84 52.31

-64.85% -0.08% 0.50%

Bid Price

Offer Price

Yield / T-Rtn

9.87 101.06 78.44

9.97 103.23 79.88

13.35% 9.29% 6.38%

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

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.76 5.56 13.54 12.21 178.38

3.80 5.64 13.64 12.41 180.38

5.95% -5.95% 11.29% 17.36% -5.00%

NAV Per Share

Yield / T-Rtn

108.69

17.60%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

T H I S D AY Ëž ÍąË&#x153; Í°ÍŽÍ°ÍŽ

40

CITYSTRINGS

Group Features Editor: Chiemelie Ezeobi Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013; Ă?Ă&#x2019;Ă&#x201C;Ă?Ă&#x2014;Ă?Ă&#x2013;Ă&#x201C;Ă?Ë&#x203A;Ă?äĂ?Ă&#x2122;Ă&#x152;Ă&#x201C;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;Ë&#x153; Í&#x2018;Í&#x2122;Í&#x2018;Í&#x201D;Í&#x2122;Í&#x161;Í&#x2018;Í&#x2019;Í&#x161;Í&#x201C;Í&#x2013;

The Return of Sanity Chiemelie Ezeobi writes that the recent order by the Lagos State government to commercial motorcycle and tricycle operators to vacate six local governments, nine LCDAs, 10 highways, 40 bridges and flyovers, is part of efforts to return sanity to the state

E

ko o ni baje is a popularly sobriquet that often graces the lips of both Yoruba speaking indigenes and non-indigenes, which was made popular by one of its former governors, Babatunde Fashola. Meaning 'Lagos will not spoil', the sobriquet has come to mean so much to its residents.

Unsurprisingly, the mega city status of Lagos, though celebrates the greatness of the city, sure comes with its own burden, ranging from cost of living to the chaos on the roads which is often caused by reckless commercial motorcycle riders popularly known as Okada.

Gotten from the defunct Okada Airways, these breed of okada riders have in no small measure contributed to the chaos in the mega city, also touted to be the commercial nerve centre of the nation.

Given the chaos and its resultant negative effects like accidents and deaths, the state government resorted to reinforce the ban by the former administration, which prohibits okada riders from six local governments, nine LCDAs, 10 highways, 40 bridges and flyovers. Also affected by the ban were commercial tricycle riders popularly known as Keke.

The Old Order It was in 2010 during the administration of Governor Babatunde Fashola, that the government came all out guns blazing in a bid to ban commercial motorcycles.

Given the fight they had at their hands in a bid to enforce the ban, the government went to the drawing board and thus the 2012 Lagos Traffic Law was borne.

This law saw to the prohibition of driving motorcycles on 475 out of 9100 roads in that state. The government of the day had said the need for the ban was because from the statistics compiled in government hospitals, an average of 16 Okada-related deaths were recorded per month and 646 Okada-accident related injuries per month.

A further check on the ban in 2014, it was discovered that the ban prohibiting the riders on expressways and highways had caused a reduction in deaths as less two were recorded per month and less than 100 Okada accident-related injuries too.

This the government deemed as a significant decrease because in two years, not less than 619 people had either been killed or injured in okada-related accidents within the period before the ban.

Defending his stance then, Fashola had said the order became necessary to reduce the rate of death caused by okada in the state, adding that many innocent commuters, including okada riders had lost their limbs due to the recklessness of the operators.

Then came Ambodeâ&#x20AC;&#x2122;s administration.

Barely three months after his elections, he had asked commercial motorcyclists to desist from operating on the 475 restricted routes across the state in compliance with Lagos Road Traffic Law, 2012. The then permanent secretary, Ministry of Transportation, had made this disclosure at a news conference in Alausa.

Stressing that the state government would no longer fold its hands and allow the impunity to continue, he said the okada orders are still banned in 475 roads out of the 9,100 roads in the metropolis in accordance with the law.

He said due to the enforcement of the provisions of the 2012 Road Traffic Law, the state witnessed over 81 percent reduction in the number of motorcycles related accidents reported in the stateâ&#x20AC;&#x2122;s public health institutions and over 80 percent reduction in motorcycle related death reported at our public hospitals.

He added that okada-related deaths

has begun enforcement already. Expressing readiness to enforce, the command said those who seek to oppose the ban should do so and channel their grievances to the government, as the job of the police is to enforce and not to create policies.

HIGHLIGHTS OF THE BAN

Commercial motorcyclists â&#x20AC;&#x153;have been drastically reduced from 192 per year to a maximum of six per year. We have saved about 465 lives since October 2012 to date.â&#x20AC;? â&#x20AC;&#x153;We have also prevented an average of 476 motorcycle related injuries monthly and 5,712 yearly. By implication, we have prevented a total of 14,220 motorcycle accident related injuries since 2012.â&#x20AC;?

The operators had tagged the move by Ambodeâ&#x20AC;&#x2122;s administration as hypocritical, alleging that the government rode on its back to power, only to turn back and break the very backs that carried it. Following the hullabaloo the ban raised and the attendant crude way it was enforced by the police, the state government relaxed its rules.

New Order Then came Governor Babajide SanwoOlu, who seemingly turned a blind eye to the chaos caused by these commercial motorcycles. They had even come out to debunk news that a ban of commercial motorcycles were in the offing.

Asides accusing them of causing accidents in Lagos, the state government also fingered them in the increased crime rate in a city where gridlock slows vehicular movement.

Henceforth, they have been banned from Apapa, Lagos Mainland, Surulere, Eti Osa, Lagos Island and Ikeja.

According to the Information Commissioner, Gbenga Omotoso, the flagrant disregard for the Lagos Traffic Laws by Okada and Keke riders has resulted in preventable loss of lives and gridlock.

Reeling out figures which he said are scary he said: â&#x20AC;&#x153;From 2016 to 2019, there were over 10,000 accidents recorded at the general hospitals alone. This number excludes unreported cases and those recorded by other hospitals. The total number of deaths from reported cases is over 600 as at date. â&#x20AC;&#x153;Also, the rate of crimes aided by Okada and Keke keeps rising. They are also used as getaway means by criminals. Therefore, after consultations with stakeholders, the State Security Council, in compliance with the extant Transport Sector Reform Law 2018, has decided to commence enforcement of the law which bans the operation of Okada and Keke in six Local Government Areas and nine Local Council Development Areas (LCDAs).

What the Law Stipulates The various laws regulating their operations as contained in Section 3 of the Road Traffic Law stipulates that they desist from plying any of the 475 roads, including highways and bridges restricted for their operations out of the 9, 200 roads in the

state. The Law on motorcycle operation in the state is sacrosanct.

Thus, anyone found to have violated the Law will be dealt with in accordance with the Road Traffic Law, RTL 2012 Section 3 Subsection 5 which stipulates that â&#x20AC;&#x153;Any person who fails to comply with any of the provisions of this Section commits an offence and shall be liable on conviction to: imprisonment for a term of three (3) years or render community service in accordance with the provisions of Section 347 of the Administration of Criminal Justice Law of Lagos State and have his vehicle forfeited to the state.

Contained in Section 3 and Regulation 16 Sub-Section 4, 5 and 6 of the 2012 Road Traffic Law, the guidelines also stipulates the wearing of standard crash helmet with full protection for both rider and passenger.

It also prohibits the carrying of more than one passenger, carrying of children and pregnant women and also operation of okada beyond 8pm in Victoria Island, IKoyi and Ikeja and 10pm in other areas of the state.

It also strongly warns against riding of motorcyles on the kerb, median or road setbacks or in a direction prohibited by law and expects respect for all traffic laws and regulations.

Operators React But in response, the operators protested, saying the number of routes prohibited were too many, alleging that the decision was a strategy by the government to totally stop them from operating in the metropolis.

Palliative Measures Already, the toll of the ban has begun to tell on Lagosians as they were stranded in different parts of the state. But the state government said palliative measures are in the offing.

According to New Media Aide to the governor, Jubril Gawat, buses will be rolled out for these areas but first thing is that, transportation has to be safe, adding that those affected areas will be adequately covered.

Potential Cash Cow for Police Meanwhile, Lagosians and operators alike have bemoaned the fact that the ban will become the proverbial cash cow for the police. This was witnessed in the past when such bans enriched the pockets of the police, who arrest and release after being paid.

Police Geared for Enforcement However, the Lagos State Police Command

r5IF CBO PO DPNNFSDJBM NPUPSDZDMFT does not cut across all roads in Lagos.

The state has 20 local government areas and 37 Local Council Development Authorities (LCDAs). That's 57 local councils in total. r5IF CBO BMTP BGGFDUT UIF USJDZDMFT popularly known as Keke. r5IF CBO XJMM BGGFDU TJY NBKPS MPDBM governments, nine LCDAs, 10 major highways, 40 bridges and flyovers. r5IF CBOOFE BSFBT JODMVEF "QBQB LGA, Apapa Iganmu LCDA, Lagos Mainland LGA, Yaba LCDA, Surulere LGA, Itire-Ikate LCDA, and CokerAguda LCDA. Others are Ikeja LGA, Onigbongbo LCDA, Ojodu LCDA, Eti-Osa LGA, Ikoyi-Obalende LCDA, Iru-Victoria Island LCDA, Lagos Island LGA and Lagos Island East LCDA. rThe list of major highways include: 1. Lagos-Ibadan Expressway 2. Apapa-Oshodi Expressway 3. Oworonshoki-Oshodi Expressway 4. Lagos-Ikorodu Expressway 5. Lagos-Abeokuta Expressway 6. Eti-Osa/Lekki-Epe Expressway 7. Lagos-Badagry Expressway 8. Funsho Williams Avenue 9. Agege Motor Road 10. Eti-Osa Lekki Coastal Road rThe list of bridges include: 1. Iyana- Ipaja Bridge Agege 2. Dopemu Bridge Agege 3. Airport/Ikeja Bridge 4. Agege Motor road/oshodi Loop, Oshodi 5. Mushin/Isolo Link Bridge 6. Dorman Long Bridge 7. Ojuelegba Bridge 8. National Stadium Flyover 9. Apapa-Iganmu Bridge 10. Apapa-Ijora Link Bridge 11. Liverpool Bridge, Apapa 12. Mile 2 Bridge-Loop, Amuwo-Odofin 13. Okota (cele)/Ijesha Link Bridge 14. Apakun/Apapa-Oshodi Bridge Network 15. Ikorodu Road/Anthony Clover leaf Bridge 16. Trade Fair Flyover Bridge 17. Festac/Amuwo-Odofin Link Bridge 18. 2 Flyover Bridges along Alhaji Masha Road 19. Ojota Clover leaf Bridge 20. Ogudu Bridge 21. 3rd Mainland Bridge 22. Maryland flyover 23. Ikeja General Hospital Flyover Bridge 24. Kodesoh Bridge, Oba Akran, Ikeja 25. Opebi Link Bridge 26. Sheraton-Opebi Bridge 27. Jibowu/Yaba flyover Bridge 28. Carter Bridge, Lagos 29. Bariga-Ifako Bridge 30. Apapa-Oshodi Expressway/Alapere Bridge 31. Bariga/Oworonsoki Bridge 32. Apapa-Oshodi Expressway/Gbagada U-Turn 33. Apapa-Oshodi Expressway 34. 3rd Mainland/Oworonshoki Bridge 35. Eko Bridge 36. Apongbon flyover Bridge 37. Cowry Bridge (Officers Mess) 38. Mcwen Bridge (Bonny Camp) 39. Marina/Ikoyi Bridge 40. Ikoyi/Obalende Bridge

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CRIME&SECURITY

Curbing Capital Flight by Looking Inward In its continuous quest to curb capital flight and localise capacity building, the Nigerian Air Force recently carried out another in-country Periodic Depot Maintenance on its second C-130H aircraft, NAF 913, which was afterwards deployed to convey weapons and logistics to the different theatres of operation, Chiemelie Ezeobi reports

T

he Nigerian Air Force (NAF) recently recorded a historic feat by deploying its locally reactivated C-130H aircraft, NAF 913, to support ongoing operations against insurgency in the North-east and other parts of the country.

Given the recent pockets of terrorist attacks in the North-east, the deployment will also see the aircraft carry fresh troops to the theatre of operations to complement the efforts of the troops on ground.

The aircraft was locally reactivated at the Nigerian Air Force Aircraft Maintenance Depot, Ikeja, Lagos after an in-country Periodic Depot Maintenance (PDM), was carried out on it.

The in-country PDM is one of the Chief of Air Staff (CAS), Air Marshall Sadique Abubakarâ&#x20AC;&#x2122;s multiplier effects to curb capital flight by domesticating such repairs.

The local reactivation of NAF 913, which was carried out by Messrs ShaheenFoundation of Pakistan in conjunction with NAF engineers and technicians, involved extensive disassembly of the aircraft parts as well as inspection, repair and overhaul of components, amongst others.

According to the Director of Public Relations, Air Commodore Ibikunle Daramola, the involvement of NAF personnel in the reactivation was to further expose them to every stage of the in-depth maintenance process, with a view to building the NAF's inherent maintenance capabilities.

The critical role of airlift in ensuring that logistics requirements of troops involved in various internal security operations are met within the shortest possible time cannot be overemphasised. The C-130H fleet, in particular, has been one of the key fulcrums in providing sustainment to our troops involved in ongoing internal security operations through airlift and movement of troops, equipment, armament and other materiel.

The C-130H has also been critical to NAFâ&#x20AC;&#x2122;s response to emergencies or in fulfilling Nigeriaâ&#x20AC;&#x2122;s responsibilities to international peace keeping operations and ensuring stability, not just in the West African sub-region but also across the continent.

At its inauguration at the Aircraft Maintenance Depot (ACMD), Lagos, CAS said the refitting and indepth maintenance of the aircraft was the continuation of a new dawn in the strategic plan to develop a robust capacity for in-country maintenance and sustenance of NAF platforms and equipment.

Abubakar said: â&#x20AC;&#x153; From the onset of this administration, we had determined that it was imperative that we develop sufficient local maintenance capacity and capability to enable us effectively project air power for current and future operations. One critical aspect of air power is strategic airlift capability. â&#x20AC;&#x153;This important requirement of the Nigerian Air Force is essential to the deployment and sustenance of forces across distant battlefields.

In this regard, judicious efforts were made to locally conduct Periodic Depot Maintenance of three C-130H aircraft; NAF 917, 913 and 918 so as to boost combat support efforts for Armed Forcesâ&#x20AC;&#x2122; operations across the country. â&#x20AC;&#x153;You would recall that I was here (at the maintenance depot) on 24 June 2019 to commission the first of the three C-130H aircraft upon the completion of its Periodic Depot Maintenance. The aircraft (NAF 917) has subsequently been involved in so many missions both within and outside the country. â&#x20AC;&#x153;Prominent among the missions conducted was the delivery of relief materials to flood victims in Mozambique and Zimbabwe, as well as moving logistics for ongoing operations nationwide. So far, the aircraft has successfully flown 732 hours since the Periodic Depot Maintenance was completed. â&#x20AC;&#x153; I am thus delighted to be here today for the commissioning ceremony of the second C-130H aircraft. Beginning today, the aircraft, NAF 913, would improve the operational efficiency of the Nigerian Air Force. This would give the required impetus for prompt

Cross section of CAS, NAF 913 team and other senior oďŹ&#x192;cers

L-R: Chief of Aircraft Engineering, AVM Musibau Olatunji; Air OďŹ&#x192;cer Commanding (AOC), Logistics Command, Air Vice Marshal Lawal Alao; Chief of Air StaďŹ&#x20AC;, Air Marshal Sadique Abubakar; Commander 631 Aircraft Maintenance Depot, AVM Moses Onilede, and others at the inauguration of the aircraft deployment of troops and the provision of logistic support required for operational effectiveness in all theatres of operation.

This accomplishment is a clear manifestation that our efforts at enhancing self-reliance is gradually producing the desired outcome. â&#x20AC;&#x153;Let me at this juncture specially appreciate Messrs ShaheenFoundation of Pakistan for their contribution towards the timely

completion of the maintenance activities on the aircraft. I would also like to congratulate all the Pakistani Air Force and Nigerian Air Force engineers and technicians who participated in this outstanding project. I urge our engineers and technicians to make the best use of the knowledge acquired during the PDM so that you can effectively apply same in the conduct of future maintenance

on the C-130H fleet. â&#x20AC;&#x153;While commending the commander and his team for a job well done, I am happy to notethat some of the benefits of the in-country PDM include saving the nation huge foreign exchange andsignificantly improving our human resource capacity and competence thereby repositioning the NAF for better service delivery. â&#x20AC;&#x153;Our modest accomplishments so far have greatly enhanced the serviceability of our aircraft fleets and boosted our capability to project air power within and beyond the shores of our dear country. It is worthy to mention that apart from this C-130H being commissioned today, we are equally undertaking the local reactivation of three Alpha Jets and one Mi-35P helicopter. â&#x20AC;&#x153;It is also my belief that in a few months ahead, we will also be here to commission the third C-130H, that is, NAF 918. These local capacity enhancement efforts are in line with the federal government policies and aspirations that encourages Ministries, Departments and Agencies to look inwards and evolve innovative solutions to the myriad of challenges the nation is confronted with. â&#x20AC;&#x153;Accordingly, the NAF will continue to pursue its capacity building initiatives through the conduct of local PDM all aircraft types.

This will undoubtedly enable the service to fulfill its primary responsibilities as provided in the constitution of the Federal Republic of Nigeria and to meet a broad range of national security imperatives.

Earlier, in his opening remarks, the Air Officer Commanding (AOC), Logistics Command, Air Vice Marshal Lawal Alao, said since its inception in July 2015, the current NAF leadership has emplaced several measures to guarantee effective and efficient air power delivery.

According to him, major among these is the administrationâ&#x20AC;&#x2122;s focus on human capacity development for self-reliance in the maintenance of NAF platforms and associated support equipment.

"To achieve this lofty objective, the current NAF administration has intensified the conduct of in-country PDM which before now was conducted overseas on selected NAF aircraft including the C-130H fleet," he said.

Dignitaries present at the ceremony included the General Officer Commanding, 81 Division of the Nigerian Army, Major General Olu Irefin and Flag Officer Commanding, Western Naval Command, Rear Admiral Oladele Daji, along with many other senior serving and retired senior officers.

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INTERNATIONAL

Deaths from Coronavirus Surpass 300 China saw a sharp rise in deaths from coronavirus on Sunday, as official statistics put the number of fatalities at 304, up from 259 a day earlier.

Confirmed cases of the virus rose to 14,380, according to state media, with the majority of new cases in Hubei, the central Chinese province where the virus first broke out in December.

The virus has been spreading

in China despite strict measures aimed at halting it, including travel bans between provinces and quarantines in a dozen cities.

Schools, factories and offices across China are due to remain closed even as the week-long Lunar New Year holiday comes to an end.

More than 100 people have fallen ill with the virus in about two dozen countries across the

globe.

On Thursday, the World Health Organisation (WHO) declared the outbreak a global emergency.

International travel companies and national governments have taken steps to stop the spread

of the virus as cases continue to be reported in new countries.

Hundreds of flights to and from mainland China have been cancelled including those run by Air Canada, Lufthansa, British Airways Turkish Airlines, United, American

Airlines, KLM, Air France, Qantas, and Delta.

Germany, Turkey, and the U.S. are among countries that have sent planes to evacuate their citizens from Wuhan, the city where the outbreak started.

Russia announced the closure

of its land border with China earlier in the week, following similar steps to some of China’s other neighbours.

The US and Australia have imposed temporary entry bans on foreigners who have travelled through China

Two Injured in Suspected London Terrorist Attack British police said Sunday that two people had been injured in a suspected “terrorist-related” incident in south London which had now been “contained”, but the victims’ conditions were

not revealed.

“We believe there are two injured victims,” London’s Metropolitan Police Service said. “We await updates on their conditions. The scene has been fully contained.”

China Blasts US Travel Restrictions China’s Foreign Ministry has blasted the United States government for restricting the entry of Chinese nationals due to the coronavirus outbreak, which last week declared a global health emergency by the World Health Organisation.

“While the WHO has only just specifically advised against any travel restrictions, the US has decided to act in the opposite way.

“This has set a bad example.

“It is certainly not a gesture of goodwill,” ministry spokeswoman Hua Chunying said.

New US measures include a ban on the entry of foreign nationals – other than the immediate family of U.S. citizens and permanent residents – who have travelled in China within the last 14 days.

The US also took the “unprecedented” step of placing 195 US citizens who recently returned from the Chinese city of Wuhan in quarantine for 14 days.

Schools, factories and offices across China are due to remain closed even as the week-long Lunar New Year holiday comes to an end.

Apple on Saturday became the latest company to announce the closure of its stores in mainland China to prevent the spread of the virus, with the measure set to remain in place until Feb. 9.

The number of people infected with the new coronavirus in China has risen to more than 11,000, while a total of 259 people have died, according to the most recent figures from Chinese health officials.

Officials in Hubei province in central China, the epicentre of the coronavirus crisis, said an additional 1,347 new cases had been reported in that province alone, bringing the number of infections there to 7,153.

Wuhan, with a population of 11 million, has been placed on lockdown, as have many other Chinese cities.

The number of people infected and China’s national death toll are expected to climb further once other regions report their latest statistics.

On Saturday, more than

3,000 Hong Kong nurses and doctors registered with a newly formed public hospitals union voted in favour of closing the semi-autonomus city’s borders with Mainland China to stem the spread of the virus.

Outside China, more than 100 other people in about two dozen countries have become ill with the virus.

Sri Lanka became the latest country on Saturday to report a case when a Chinese woman travelling there was found to have coronavirus.

Germany confirmed its eighth case the same day.

The European Union and several countries have already flown their citizens out of China, including the U.S., Japan, South Korea, Jordan, Britain, and most recently Sri Lanka, India, and Turkey.

A Turkish military cargo plane carrying 42 people, 32 of them Turkish nationals, landed Saturday evening in capital Ankara from China’s Wuhan, state news agency Anadolu reported.

The evacuees, along with 20 flight and health attendants, are to be placed under quarantine for 14 days.

A German air force jet left Wuhan early Saturday on an evacuation deployment.

It arrived in Frankfurt on Saturday afternoon.

According to the state of Hesse’s social minister, there were 124 people on board, including 100 Germans and their relatives.

There were 22 Chinese citizens on board, one U.S. and one Romanian. The passengers are to spend two weeks in quarantine following medical testing upon their arrival, the Frankfurt health authority said.

Eleven people were examined at a Frankfurt clinic on arrival for various health reasons, with one needing clarification on whether they were infected with the virus.

The flight was delayed after Moscow refused to allow the plane a short layover in the Russian capital as planned.

The plane stopped in Helsinki instead, German Defence Minister Annegret KrampKarrenbauer said.

A police officer pointing a gun at a man who was seen on the floor outside Boots after an attack in south London...yesterday

20 China Evacuees Showing Coronavirus Symptoms, Says French Minister Around 20 of the 250 people flown back to France from China Sunday because of the coronavirus outbreak are presenting symptoms of the virus, the country’s health minister said.

“About 20 people who presented symptoms have stayed on the tarmac” at Istres airport in the south of France, Agnes Buzyn told journalists. They included French and non-European

nationals.

Army medics there were carrying out tests to establish whether or not they actually had the coronavirus and the results were expected later Sunday.

Sunday’s flight was the second bringing evacuees back from China to France.

It was carrying 250 passengers, 65 of them French, said junior health minister Adrien Taquet. They flew out

of Wuhan, where the virus was first detected, late on Saturday.

This second flight was carrying people of 30 different nationalities, most of them European, Foreign Minister Jean-Yves Le Drian told French broadcasters RTL. Some would stay in quarantine with the French nationals for 14 days while others would leave straight for their home countries if

they showed no symptoms of the virus, he said.

A first planeload arrived on Friday and are currently in quarantine at a holiday village on the Mediterranean coast.

Two passengers from that flight were identified as possible cases of coronavirus, but tests on them came back negative.

So far in France, only six cases of coronavirus have been detected.

Uber Suspends 240 Users Accounts in Mexic Uber has suspended the accounts of 240 users in Mexico who may have been in contact with drivers that ferried a person suspected of having the deadly coronavirus.

More than 300 people have died from the novel coronavirus in mainland China and although more than 100 people have been infected outside the country, Mexico

has not reported a confirmed case.

The ride-hailing app said Mexico City health authorities requested information in January on a possible carrier of coronavirus, with Uber finding two drivers who transported the suspected individual before driving a further 240 people.

“We have proceeded to send information to these two drivers

and the 240 users regarding the temporary deactivation of their accounts,” the company said in a statement posted on Twitter. Mexico’s Ministry of Health said it continues to monitor people who may have had contact with the possible coronavirus carrier — identified as a tourist of Chinese origin — who subsequently left the country.

“Of the contacts identified so far, none have developed symptoms of the disease more than 10 days after exposure, which exceeds the average incubation time,” the authorities said in a report.

Also on Saturday, Mexico said it had evacuated 10 people from the Chinese city of Wuhan, the epicenter of the outbreak.

20 Killed During ‘Anointing Service’ Stampede in Tanzania At least 20 people in Tanzania were trampled to death at an open-air evangelical Christian church service in the north of the country, officials said on Sunday.

Government official Kippi Warioba, District Commissioner in the northern town of Moshi, said he feared the number of dead could still rise from the accident, which took place on Saturday afternoon.

“So far, 20 people have died, but the death toll could increase as there were also wounded,” Warioba told AFP. The tragedy happened when a crowd of worshippers was attending a prayer ceremony on Saturday led by the popular preacher, Boniface Mwamposa, who heads the Arise and Shine Ministry Tanzania.

The stampede occurred when Mwamposa, who calls himself

the “Apostle”, poured what he said was holy oil on the ground and the crowd surged toward to touch it in the hope of being cured of sickness, witnesses said.

“The Apostle Boniface Mwamposa poured sacred anointing oil on the ground,” one witness, Jennifer Temu, told AFP. “Dozens of people immediately fell being jostled

and trampled, and some died.

We have counted 20 people killed — but there are also wounded.”

“It was horrible, people trampled on mercilessly, jostling each other with elbows,” said another witness, Peter Kilewo.

“It was like the preacher had thrown bundles of dollars about… and there were all these deaths!”

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NEWSXTRA

Senate Puts FG’s Borrowing Request at $22.6bn Chuks Okocha in Abuja The Chairman Senate Committee on Finance, Senator Solomon Adeola, has put the federal government’s external loan request before the National Assembly at $22.6 billion and

not the $29.96 billion in public domain.

Adeola also said the external loan is tied to the completion of critical projects like the Second Niger Bridge, the East-West Road, Lagos-Ibadan Expressway, Mambila Power project and the

UNICEF: 100,000 Nigerian Children Die of Water-borne Diseases Annually Ibrahim Shuaibu in Kano A Communication Specialist with the United Nations Children’s Fund (UNICEF), Mr. Geoffery Njoku, has said more than 100,000 Nigerian children less than five years of age die each year due to water-borne diseases.

Njoku, who works with UNICEF Kano Field Office, said the figures was according to the European Union (EU) report which indicated that diseases like diarrhoea was responsible for 90 per cent of the death due to unsafe water and sanitation.

“The lack of WASH facilities in schools is of serious concern as children who do not have access to water are most likely to lose interest in pursuing learning opportunities. Because they are forced to spend more time in search for water during school hours or stay out of school to recover from illness caused by frequent episodes of diarrhoea.

“Access to clean drinking water is a human right – just like the right to food and the right to live without torture and racial discrimination,” Njoku said, in a statement by Malam Rabiu Musa.

He explained that data from the WASH National Outcome Routine Mapping (WASH NORM) showed that 47 million Nigerians practised open defecation, and only 11 per cent have access to complete basic water, sanitation and

hygiene services.

Njoku added that only 13 per cent of schools have access to basic water and sanitation services.

“Ending open defecation and making water, sanitation, and hygiene services available to all Nigerians is one of the biggest challenges as construction and management of facilities requires sustained investments and more partnerships, especially with the private sector.

“The Nigeria Government should invest three times more in the water sector, making sure that every Nigerian has access to clean water and a toilet as the lack of access to water is impacting their well-being, especially the most vulnerable.

“The EU, through UNICEF, is supporting the Government of Nigeria to achieve the objectives of the national campaign on an open defecation-free Nigeria launched last year and the state of emergency declared on the WASH sector by the President (Muhammadu Buhari) in 2018,” he said.

The statement added that about one million people in six local government areas of Jigawa and Kano states would benefit from improved access to safe water and sanitation facilities provided by the UNICEF in those areas. The areas include Madobi, Takai, Gaya and Kabo local government areas of Kano State.

Edo, UK Govts Partner to Introduce Video-conferencing for Human Trafficking Court Cases Sunday Okobi The Edo State Government and the United Kingdom have concluded plans to introduce video-conferencing in courtrooms to make it easier for people to testify in cases of human trafficking.

This was disclosed when the Edo State Governor, Mr. Godwin Obaseki, received the British Deputy High Commissioner in Lagos, Harriet Thompson, on a courtesy visit at the Government House in Benin-city.

The governor, in a statement made available to THISDAY at the weekend, disclosed that his administration has also increased investment in education, digital infrastructure, job creation and power, among other reforms to tackle illegal migration and human trafficking.

Obaseki said the creation of sustainable programmes in areas prone to illegal migration in the state would discourage human trafficking, noting that significant successes have been recorded in the areas of arrest, trial and prosecution of human traffickers.

The governor, who called

for synergy between the UK and the state government to fine-tune ongoing initiatives in the state for better results, disclosed that commensurate investment had not been recorded in funding capacity building programmes to engage potential victims.

According to him, available verifiable data showed that migration from the state had dropped and traffickers have started relocating to other centres.

Earlier, Thompson expressed satisfaction with the innovations being introduced into governance by the Obaseki-led administration to better the lives of the citizens.

She noted that the UK Government would explore investment opportunities currently being created by the governor in technology and agriculture sectors to create meaningful employment for young people.

Thomson said the Commission was already in partnership with some state government agencies such as the Edo State Skills Development Agency (EdoJobs) to build skills for young people and create jobs for them.

Kaduna-Abuja Highway.

He added that the Senate would investigate losses in the name of under-recoveries allegedly being incurred by the Nigerian National Petroleum Corporation (NNPC) in the importation of fuel.

Adeola, told reporters yesterday in Abuja that the external loan request came to about $22.6 billion because the eighth National Assembly had earlier approved part of the $29.96 billion loan request amounting to about $6 billion.

He said the approval of the loan would help the President

Muhammadu Buhari-led administration to complete critical infrastructural projects.

He said: “The federal government is not asking the National Assembly to approve the sum of $29.96 billion loan for it. “This is because in the last Senate, about $6 billion had been approved for President Muhammadu Buhari to borrow out of the $29.96 billion.

“It is the balance of that figure that the government is asking us to approve for it in the borrowing plan, which is about $22.6 billion.

“The Senate Committee on

Finance will organise a public hearing on the issue if need be.”

He said in the alternative, the Senate would engage the various agencies of the government to give them a clearer view of how the money would be utilised, adding that all the money being requested for borrowing would be attached to the execution of specific projects.

“We are not going to approve any loan plan that is not attached to project execution because that is the only way we can monitor the development and the proper utilisation of the money,” he said, adding: “The Buhari

administration has five legacy projects, which it planned to spend the money on. They include the Second Niger Bridge, the East-West Road, the Lagos-Ibadan expressway, the Mambila Power project and the Kaduna-Abuja Highway.”

According to him, the approval of the loan would let the government achieve the completion of the projects before the end of its tenure.

It will also assist the government to fulfill its promise to Nigerians, he said, adding that the plan will cover the next four years.

GIVING BACK TO ALMA MATER...

L-R: Provost of College of Medicine, University of Lagos (UNILAG), Professor FEA Lesi; Lagos State First Lady, Dr. Ibijoke Sanwo-Olu; and Chairman, Planning Committee, Professor Oladapo Ashiru, during the 2nd MEDILAG Alumni High Table and Fund Raising Dinner, in Lagos…weekend

Buhari, Fayemi Mourn Ex-NADECO Chieftain, Arthur Nwankwo

Omololu Ogunmade in Abuja and Victor Ogunje in Ado Ekiti

President Muhammadu Buhari and Ekiti State Governor, Dr. Kayode Fayemi at the weekend condoled with government and people of Anambra State over the demise of former Vice Chairman of National Democratic Coalition (NADECO) and prolific writer, Dr. Arthur Agwuncha Nwankwo, saying posterity will always remember his labour and sacrifices.

In a statement by the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, Buhari commiserated

with the family, friends, professional and political associates of the deceased.

According to Adesina, Buhari encouraged them to find solace in the contributions the writer made to national and global development by consistently pursuing and projecting values of peace, unity and love.

“President Buhari affirms that the late writer’s bridge-building efforts, like supporting the famous Handshake Across the Niger, and carefully picking the themes of his many publications to reflect national unity, while advocating for a collective vision, had served the purpose.

“The President believes Dr. Nwankwo’s investments in humanity will endure, especially standing for democracy and development at great risks, and working hard to ensure that the pivotal institutions are strengthened and sustained.

“President Buhari prays that the almighty God will receive the soul of the departed statesman, and comfort his family,” the statement added.

On his part, Fayemi described the death of former Vice Chairman of the National Democratic Coalition (NADECO), Nwankwo, as a huge loss to the pro-democracy

family and the country at large.

Fayemi in a condolence message, signed by his chief Press Secretary, Mr. Yinka Oyebode, described the late Nwankwo as one of the country’s foremost rights activists and a patriot who defied all odds in the battle against military dictatorship, which led to the enthronement of democracy in the country.

He described the late activist as a man of many parts- an intellectual, rights activist, prolific author, humanist and a pan-Nigeria leader who was ever at home with the ordinary folks.

FCT Police Rescue Abducted Student Kingsley Nwezeh in Abuja The Federal Capital Territory (FCT) Police Command said weekend it rescued Gift Abikor, a student of Federal Government College Rubochi in Kuje Area Council.

The 17-year old was abducted

last week outside the college by unknown gunmen.

A statement issued by the command said “the student was rescued unhurt at about 2030hrs on January 31, 2020”.

“The FCT Police Command wishes to inform the public that Gift Abikor, the 17-year-old

student of Federal Government College Rubochi who was abducted on Tuesday, January 28, 2020, has been rescued and successfully reunited with his family”, it said.

The command assured FCT residents of its commitment to protecting lives and property

in the Federal Capital Territory.

“The Command wishes to appreciate FCT residents for supporting it with information.

“In case of distress, the Command can be reached on any of these hotlines: 08032003913, 08061581938, 07057337653 and 08028940883,” it said.

Seven Injured as Fire Guts INEC Office, Residential Building in Anambra David-Chyddy Eleke in Awka Fire yesterday gutted the office of the Independent National Electoral Commission (INEC) in Ogidi, Idemili North Local Government Area of Anambra State.

A source said the fire started at about 12.30 p.m. from a burning bush near the building housing the commission,

gutting parts of the office, while fire fighters battled to save what was left of it.

Public Relations Officer, Anambra State Police Command, SP Haruna Mohammed, confirmed the incident, saying “at about 12.30 p.m. of today 2/2/2020 there was fire incident at INEC office Ogidi in Idemili North Local Government Area of Anambra

State.”

“Police patrol team led by DPO Ogidi Division rushed to the scene and Fire Service Department was contacted.

Scene was cordoned off and effort is ongoing to put off the fire and prevent it from escalating to other adjourning buildings. The fire allegedly emanated from bush burning, however, extent of damages

done yet to be determined.”

Meanwhile, seven people have escaped death with varying degrees of injuries in another fire incident in Onitsha, Anambra State.

The fire, which began at 10.30 a.m. emanated from a faulty gas cylinder which exploded in a residential building, engulfing the entire building.

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APC Insists Boko Haram Suffering Heavy Casualties Adedayo Akinwale in Abuja Despite the recent calls for the sack of the Military Service Chiefs following the recent surge in Boko Haram attacks and other criminal activities across the country, the All Progressives Congress (APC) has insisted that the Islamic sect and bandits are suffering heavy casualties on a daily basis in the hand of the military.

The National Publicity Secretary, Mallam Lanre IssaOnilu, in a statement issued yesterday stated categorically that no inch of Nigeria’s territory is under the control of Boko Haram.

He noted that the recent public commentaries on the activities of Boko Haram and bandits as well as other forms of criminality in the country are assuming a dangerous ethnoreligious slant, “unfortunately influenced by insensitive and selfish partisan narratives

by shortsighted groups and individuals.”

The APC spokesman said this is a red flag that must be checked for the collective well-being of Nigerians.

Issa-Onilu noted that understandably, the aftermath of an attack would trigger inflamed responses particularly from those affected.

He stressed the need to rise above simplistic narratives and politically-tainted criticisms which are often times misplaced and counterproductive.

The APC chieftain said true to form, violent extremists and terrorists all over the world would adopt desperate tactics by selecting soft targets for their barbaric and opportunistic attacks.

According to Issa-Onilu, “In Nigeria, these godless people are attempting to stoke religious sensitivities by pitching Christians and Muslims against one another through

their recent pattern of cowardly attacks. This demonstrates how debased and degraded Boko Haram and those who sponsor it have become.

“We must not fall for this divisive ploy. In our respective spaces, we should understand that these violent extremists are our common enemies, and are

blind to religious and political affiliation and socio-economic status.

“Currently, no inch of Nigeria’s territory is under the

control of Boko Haram, bandits, kidnappers and other criminal camps are being cleared with the criminals suffering heavy casualties on a daily basis.”

EXPORTS… OPEC, Allies to Discuss PROMOTING L-R: Executive Director, Business Development, Nigerian Export-Import Bank (NEXIM), Hon. Stella Okotete; Managing Director, NEXIM, Mr. Abba Bello; Executive Director/CEO Nigeria Export Promotion Council (NEPC), Mr. Segun Awolowo; Delta State Governor, Dr. Ifeanyi Impact of Coronavirus Okowa;andhisDeputy,Mr. KingsleyOtuaro,duringNEXIM’sexportenlightenmentandengagementforuminAsaba,DeltaState…recently on Oil Demand Report: Why Nigeria’s Civil Service Not on Global Ranking The Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC’s Joint Technical Committee (JTC) has scheduled a meeting over February 4-5 in Vienna, Austria to assess the impact of China’s new coronavirus on oil demand.

OPEC sources told Reuters that the technical panel is likely to make a recommendation on whether to extend current oil supply curbs beyond March or to implement deeper output cuts.

OPEC officials are considering their options on how best to deal with the potential impact from the spread of the coronavirus, which has killed more than 300 people and caused oil prices to slide.

OPEC will assemble experts in a joint technical committee for the meeting.

Crude prices have suffered

since the virus outbreak as worries about its impact on China’s economic growth have taken hold.

China is the world’s secondbiggest economy and a huge consumer of crude.

US benchmark oil contract WTI has fallen by around 18 per cent over the past month.

Top oil exporter and OPEC kingpin Saudi Arabia said this week that the impact of the virus on oil demand was “extremely limited” but that the kingdom was closely following events.

Russian Energy Minister, Mr. Alexander Novak, said that the virus crisis could lead to lower demand for hydrocarbon fuels.

The 13-member OPEC cartel regularly sits down with 10 non-members led by Russia to decide on measures to influence the oil price.

Taraba Earmarks 66% of 2020 Budget for Capital Projects Wole Ayodele in Jalingo Taraba State Government has budgeted to spend 66 per cent of its 2020 budget totalling N143.4 billion on capital projects.

Governor Darius Ishaku had last week Friday signed the 2020 budget of N215.8 billion into law after being passed into law by Taraba State House of Assembly.

Giving a breakdown of the budget while briefing journalists over the weekend, the Commissioner for Budget and Planning, Solomon Elisha, said the budget was tailored towards development and aimed at completing all on-going projects in the state.

Elisha explained that the focus of the budget tagged “Budget of Accelerated Growth and Development” was to complete ongoing projects in the state as well as initiate and execute others that have direct bearing on the lives of the people of the state.

He noted that the percentage of capital expenditure is 66.48 per cent as against the recurrent expenditure which is 33.522 per cent and further maintained that the budget would serve as a catalyst to boost the socioeconomic status of the people of the state.

According to him, “We have deliberately decided to serve the people of the state by allocating a large part of the budget to capital expenditure in order to provide those necessary infrastructures that could serve as a catalyst to improving the socio-economic status of Tarabans and that is why the ratio between the recurrent and capital estimates is at 33.52 per cent to 66.48 per cent.”

The commissioner, however, lamented the abysmally low internally generated revenue in the state and therefore called for a shift from dependence on external sources to internal sources of revenue.

Olawale Ajimotokan in Abuja A report by Blavatnik School of Government, Oxford University has advanced the reasons why Nigeria was not included among the Organisation for Economic Cooperation and Development (OECD) countries, which civil service were ranked on the International Civil Service Effectiveness (InCiSE).

Nigeria and Brazil were excluded from the ranking.

The technical report titled: Assessment of the Applicability of the InCiSE Methodology to Nigeria,” was prepared in 2019

by Zenobia Ismail and supported by the UK Civil Service and funded by the Open Society Foundation.

The report determined it was not possible to include Nigeria’s civil service because of insufficient data sources available matching the fine-grained data on civil service effectiveness

available for OECD countries.

This persistent lack of reliable data was also alluded to by the Acting Head of the Civil Service of the Federation (HoS), Dr. Folasade Yemi-Esan, at a workshop evaluating the technical paper on the applicability of InCiSE methodology to Nigeria.

“Nigeria and some developing countries are yet to be included in the index due to inadequacy of relevant data needed for the

assessment. This informed the development of a technical paper in 2019 which examined the viability of including the Nigerian federal civil service in the InCiSE Index using the same or similar indicators, themes, and data sources as those used in compiling the 2017 Index,” Yemi-Esan admitted.

The report, however, claimed that data was only available for 26 of the 60 themes representing 43 per cent in the index.

Benin Disco Blames Delay in Signing Ossioma Deals on Safety Concerns The Benin Electricity Distribution Company (BEDC) has explained that the delay in signing the bilateral agreement on the Edo State and Ossiomo Power project is due to ongoing efforts to conclude the process for the operations, maintenance and management of the project in line with licensing and safety standard in order to ensure safety of lives and property.

Chief State Head, Edo of BEDC Electricity PLC, (BEDC), Mr. Abel Enechaziam, made this known in a statement made available to journalists over the weekend.

Enechaziam maintained that

the procurement process for the proposed new line, which is also expected to be based on open and competitive procurement in line with prudency requirement by the regulators, has not been agreed to by Ossiomo.

He disclosed that when combined with the proposal

by Ossiomo that the valuation methodology for the pricing of purchase in 10years time should be agreed to in future, BEDC insisted that these can lead to tariff costs that may not conform to regulatory approval.

Consequently, BEDC has requested for the release of the draft agreement for its review

and clearance by the regulator.

“As you are aware, we operate in a regulated sector and would require the sign off of the relevant sector regulators such as NERC before executing the proposed agreement, in order to ensure that we remain within the permitted regulatory parameters,” BEDC said.

It pointed out that one of the two grey areas that were in contention in the bilateral agreement on Ossiomo bothered on the need for valuation of the line being used for power evacuation through open, competitive and transparency tendering process to ensure that

only prudent cost are passed to the customers. The other issue of dispute, the company explained further, was its insistence that the joint operation and maintenance of the Ossiomo line was not allowed and that a sub contactor could be appointed by Ossiomo to work under BEDC supervision for accountability and safety sake in its network.

It cited the recent electrocution of two persons, as well as death of one of the parties involved as part of the reasons the project should be undertaken in line with applicable regulatory and safety standards.

Ahead of 2020 Election, Edo Elders Call for Buhar’s Intervention Some elders of Edo State have called on President Muhammadu Buhari to intervene in the lingering political crisis between the camp of Governor Godwin Obaseki and that of the National Chairman of the All Progressives Congress (APC), Mr. Adams Oshiomhole, saying that the people now live in fear and apprehension ahead of the governorship election in the state.

In a statement signed on its behalf by the President-General

of the Edo Elders Consultative Forum, Chief Matthew N. Asemota; and Secretary, Colonel Johnbull Omo-Ojo (rtd), the elders lamented that efforts have been made in the past, “directly and indirectly, covertly and overtly to resolve the issues between governor and his predecessor without success.”

They pleaded with President Buhari to call Obaseki to order so he can face governance.

The elders said that the state was yearning for development and good governance and

promised to use their votes to bring about better leadership in 2020 “if the governor does not tow the line of governance for which he was voted into office in 2016.”

According to them, “no governor goes to election, beating the drums of war and expects the people to trust him with power,” reminding him to learn from history to avoid the experience of the political impasse that led to the fall of the administration of former Governor Oserhiemen Osunbor

in 2008.The elders alleged that the drums of war were becoming too loud, scary and terrifying.

The elders faulted the constitution of a commission to probe the construction of a Central Hospital in Benin City during the tenure of Oshiomhole as governor, added that, “as Chief Economic Adviser, Governor Obaseki was a key component of the administration of former Governor Oshiomhole and that was what earned him the exalted position he occupies today.”

MONDAY FEBRUARY 3, 2020 ˾ T H I S D AY

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Lagos Police Arrest 40, Impound 188 Motorcycles, 78 Tricycles State govt hails compliance to ban by operators Warns against violence

Chiemelie Ezeobi As part of the full enforcement of the ban on motorcycles, popularly known as okada, and tricycles, also known as keke in some local governments and routes in Lagos State, the state police command has arrested 40 violators, and impounded 188 motorcycles, as well as 78 tricycles across the banned areas.

This is coming as the state government has hailed motorcycle and tricycle operators for

complying with the restriction from six local government areas, major highways and bridges.

The government has also warned all those who are planning to unleash violence on the state because of the ongoing enforcement to have a change of heart, stressing that the people of the state are peace loving and law abiding people, who will not embrace any disruption of their legal activities by failed politicians.

According to the state Police Spokesman, DSP Bala Elkana,

Judiciary Still Most Dependable Institution, Says Bulkachuwa Omon-Julius Onabu in Asaba President of the Court of Appeal, Justice Zainab Bulkachuwa, has said the Nigerian judiciary remains the most dependable arm of government and the genuine hope of the society for unbiased dispensation of justice.

Justice Bulkachuwa, while fielding questions from journalists yesterday in Asaba, described the facilities at the Court of Appeal Complex of Asaba Division as of acceptable standard.

She assured the nation that the court will adequately dispense justice to the satisfaction of all irrespective of social status, noting that the judiciary has remained “the most consistent among other arms of government,” in the country.

Justice Bulkachuwa, who was in the state in preparation for the inauguration of the Asaba Division of Court of Appeal today said she could attest to the standard quality of the facilities even before inspecting them based on reports available to her.

She said: “I am in Asaba to commission the new division of the Court of Appeal. I am coming here for the first time; so, I will inspect the complex today before commissioning tomorrow. But from the reports I have been getting, they are up to standard.”

On expectation of Nigerians from the judiciary, Justice Bulkachuwa said: “We are giving good service to Nigerians.

I am sure that the judiciary is the only arm of government that has been consistent for quite a while. Everybody should expect justice.”

The Delta State Government had received the approval for the creation of the Asaba Division of the Court of Appeal and proceeded to put in place facilities, including court halls, offices, judges’ quarters and other sundry requirements.

The state government remodelled the Maryam Babangida Women Centre at the cost of N800 million to provide adequate accommodation for the Court of Appeal.

the state Commissioner of Police, Mr. Hakeem Odumosu had on February, 1, 2020, deployed area commanders, and divisional police officers to effect the implementation of the ban.

Also deployed were state, area and divisional traffic officers, as well as the Lagos State Taskforce on Environmental Sanitation and Special Offences and other police officers. He said the enforcement is especially on the ban on the use of motorcycles and tricycles in some local government areas and routes across the state.

He said: “When the total ban took effect 40 violators were

arrested in different parts of the state. 188 motorcycles and 78 tricycles were impounded.

“The CP went round the state to monitor compliance. The CP expressed his satisfaction with the level of compliance across the state and thanked the good people of Lagos State for their cooperation. “The CP personally arrested some motorcycle and tricycle operators seen contravening the traffic laws.

Others arrested by the CP were VIP escort vehicles without registration numbers, vehicles with defaced and covered plate numbers and vehicles driving

against traffic.

“Twenty two vehicles were impounded. The CP reiterated the fact that no one is above the law. He called on Lagosians irrespective of their social status to support the police in its quest to provide a safe and secured state for everyone to live in and to carry out their lawful businesses.

“The enforcement is a continuous exercise 24/7 and violators will be dealt with in line with extant laws on traffic.”

Meanwhile, the state government has hailed motorcycle and tricycle operators for complying with the restriction

from six local government areas, major highways and bridges.

The state Commissioner for Information, Mr. Gbenga Omotosho said in a statement that the level of compliance was over 90 per cent.

“In fact, some of the ride hailing companies directed their riders to obey the directive. This is commendable. The high- level of compliance has shown that Lagosians agree with the government on the need to stop the danger that commercial motorcycles and tricycles have become - a big threat to safety of lives and security of our people.”

HONOUR TO THE DEPARTED…

L-R: Wife of CEO, Jajove Solutions Limited, Mrs. Vivian Akpovwa; her husband, Mr. Ekeme Jay Akpovwa; former Minister of Information, Prof. Sam Oyovwaire; Publisher of Abuja Inquirer Newspaper, Mr. Dan Akpovwa; Chief of Staff to Delta State Governor, Mr. David Edevbie; and Delta State Commissioner for Works, Mr. James Auguoye, during the funeral of a former Assistant Chief Registrar of the Federal High Court, Lagos, the late Mrs. Felicia Akpovwa, in EKU, Delta State...recently

N’ASSEMBLY LEADERSHIP MEETS PRESIDENT THIS WEEK OVER INSECURITY Adeboye Leads Protest as CAN Demands Overhaul of Architecture Also yesterday, in line with the decision of the Christian Association of Nigeria (CAN) to end its three-day fasting and prayer with a prayer walk yesterday, the General Overseer of The Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, led a procession to protest the insecurity and killings in Nigeria.

CAN in Ekiti and Ondo States also embarked on peaceful protests to demonstrate their grievances against the recent killings in the country, especially the murder of the Andimi.

The Christian body used the occasion of the three-day prayer and procession to call on the federal government to overhaul the country’s security system.

At the end of the RCCG’s monthly Thanksgiving Service at its National Headquarters in Ebute Meta, Lagos State, the church commenced the protest from Ebute Meta through Atan Cemetery in Yaba metropolis and back.

Earlier at the church service, Adeboye led his congregation on prayers for the peace and security of the country.

“Lord, have mercy on Nigeria. Let there be peace and security in Nigeria. God sees all things and knows where the terrorists are hiding; we pray that God sends His light to Nigeria and expose the evildoers in the

country. After the service, we are all going for a prayer walk. We’ll march according to age. There are some who would march around the church because of their age and there are some who would march with me to Atan Cemetery and back,” he stated.

Adeboye had also instructed all members of his church across Nigeria to embark on the protest.

“The prayer walk was aimed at offering prayers and supplications unto God to save Nigeria from being consumed by insurgents, terrorists, bandits, kidnappers, armed robbers, militants and ritualists in all our states,” he added.

Adeboye displayed several placards saying: ‘No to further killings,’ and urged the governments at all levels to rise up to their civic responsibility of securing the lives and property of citizens.

According to him, “the security infrastructure in our nation needs to be overhauled and improved drastically for the current security challenges to be tamed.”

CAN had declared a threeday fasting and prayer beginning January 31 to empower the government and the military forces in the fight against terrorism and the spate of killings in the country.

CAN President, Dr. Samson Ayokunle, had said the spiritual exercise would end yesterday with a prayer walk.

Adeboye, in a memo dated January 29 and signed by the Assistant General Overseer, Administration and Personnel, Pastor Johnson Odesola, had asked members to seize the opportunity of the programme to pray against killings in the country.

He had also directed that church services should end early in all the parishes to enable members to take part in the walk, which he said should hold within the immediate environment of the churches.

In Ekiti State, the state chapter of CAN also embarked on a peaceful protest to demonstrate their grievances against the recent killings in the country, especially the murder of Andimi.

The procession, which began at 2p.m, took off from the OriApata office of the association located at Adebayo area of Ado-Ekiti and terminated at Fajuyi Park in the metropolis.

The marchers carried several placards with varying inscriptions like: “Stop killings,” “we must unite against killings in Nigeria,” “Christian demands justice,” “All Christians are created equally,” “It is inhuman; don’t take life ,” “Citizens must be protected from killers,” “We, Christians are the main victims,”among others.

Addressing his members, the Chairman of CAN in Ekiti State, Rev. Fr. Peter Olowolafe, lamented the level of insecurity in the country and described

it as unbearable.

He explained that “the Christians in the area decided to join others in the country to embark on the peaceful protest in order to express their grievances about the killings in the country.”

Olowolafe cited many killings in the country in recent time to include the murder of Revd Denis Bagauri in his house at Mayo Belwa of Adamawa State.

He called on the federal government to redouble its efforts at making peace to reign in the country.

The Christian community in Ondo State under the umbrella of CAN also joined their counterparts to protest insecurity in Nigeria and particularly the killings and abduction of Christians.

The protest, took off from the First Baptist Church, Oba Adesida Road, through Oja Oba Market, and terminated at the Sacred Heart Cathedral, Akure where prayers were offered for peace and divine protection for Nigerian leaders and the people.

Some of the inscriptions on the placards read: “Nigeria Belongs to All,” “Buhari Must Be Fair to all;” “Nigerian Christians under Attack,” “The killings of Christians Must Stop,” “Enough of Bloodshed In Nigeria,” “Please, Release Leah Sharibu Now,” among others, condemning federal government’s handling of insecurity in the country.

Addressing the gathering,

which comprises Christians from various denominations, the Bishop of Ondo Diocese of Catholic Church, Bishop Jude Arogundade, condemned the federal government’s poor handling of security issues in the country.

Arogundade, who was supported by other top priests in the state, said the government had failed in its responsibilities to the people.

He said: “We are here because for so long and for too long we have seen a government that is playing ostrich; that will want to give audience to such organisations like Miyetti Allah and will want to give N100 billion recently and so many other organisations that we know so well in this country.

“This is time for us to speak out clearly. If the government can no longer defend the Christians in this country, we will defend ourselves; it is our right and duty, especially when we can see and can see clearly that government can no longer defend the law-abiding and hard-working Nigerians any more.

“Every country in the world will defend the defenseless, the hardworking, honest and ordinary people but our government continue to look the other way.

“They prefer to arrest those who are protesting against the system rather than those who are destroying the system,” he said.

The bishop added that the Christians have come to pray for the government to know and uphold the truth.

However, Arogundade commended the Ondo State Governor, Mr. Oluwatotimi Akeredolu, for standing out clearly on the need to protect the citizens against insecurity.

“We pray for the governor of Ondo State that God should protect and keep him safe.

“We have heard him clearly and we know his heart. He wants to protect his people and we are here to support him and to support all the authorities of our land who want to work hard to protect the defenceless. May God continue to bless them and show us the way,” he explained.

Also speaking, the Chairman of CAN, Ondo State, Reverend John Ayo Oladapo, expressed optimism that no matter what happened, God will deliver Nigerians.

“We are not happy with the way the federal government is handling security issues.

We are not happy with the way the federal government is attending to the people that are being killed in the North and in the nation.

“The federal government has lost direction. They are claiming that the killers are foreigners. Why must federal government allow foreigners to invade our land and be killing us and the federal government look unconcern,” he said.

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LCCI Wants Lagos to Review Ban on Commercial Motorcycles Dike Onwuamaeze The Lagos State Chamber of Commerce and Industry (LCCI) has called on the state government to review the current ban on the operation of commercial motorcycles and tricycles in some major highways in the state in order to ameliorate the hardship faced by commuters.

The LCCI said the stakeholders’ engagement would also fine tune the traffic law and enforcement strategies as well as reduce the current wide-ranging routes covered by the restriction, and limit it only to major road corridors.

A statement issued by the agency, which was signed by the Director-General of LCCI,

Dr. Muda Yusuf, said the review of the ban was urgent in order to “give some room for the ordinary citizens to commute since laws are made for man and not the other way round.”

Yusuf argued that: “The tolerance and latitude for operation of tricycles should be expanded as they play vital complementary roles to other forms of transportation in the state. They are affordable, scalable, divisible, flexible and less of a nuisance than the motorbikes.

“Regulatory capacity should be strengthened to ensure traffic discipline among all categories of road users.”

The chamber insisted that strict enforcement of the traffic law in its current form

would have profound social, economic and political costs.

“Commuters would suffer untold hardship as there is no immediate alternative to fill the gap which the wide-ranging restriction would create.

“There would also be high

transportation cost as commuter buses are likely to hike their fares. They would naturally take advantage of the surge in demand. “There is also the investment effect on emerging innovative investments in the commercial motorbike sector

some of which have invested billions of naira in the sector.

“Connectivity of domestic economic agents would suffer a deceleration. The tempo and momentum of economic activities would experience a slow down as the velocity of

business transactions would be adversely affected. This would also take a toll on the huge and vibrant informal economy in the state. There will also be massive extortion by the enforcement agents,” Yusuf noted.

Rivers, NLC on Collision over Minimum Wage

Ernest Chinwo in Port Harcourt

Tension is brewing in Rivers State as the state government and the Nigeria Labour Congress (NLC) are heading for a collision over the payment of the minimum wage.

While the state government said it has started the payment of the minimum wage, the NLC said what the government paid fell short of the minimum wage.

The union has promised to take necessary steps to ensure that government pays the right wage.

A statement signed by the state Chairman of the NLC, Mrs. Beatrice Itubo stated: “The Rivers State council of the Nigeria labour Congress (NLC) has called on the Rivers State government to immediately reconvene a meeting of the negotiation committee on the new minimum wage without further delay.

“Arising from a meeting of all public sector unions affiliated to NLC at the state NLC Secretariat today (last Friday), the unions resolved that what was paid to workers as January salary was not a reflection of the new National minimum wage nor a product of principle of collective bargaining

between the government and labour.

“The NLC also insisted that henceforth, it will not tolerate the nonchalant attitude of the government towards its employees and urged workers to be at alert and committed to their work as well as remain resolute as NLC will not be complacent rather must ensure that their welfare is given top priority.”

But in a swift reaction, the state government dared the NLC to make good its “threat over the new minimum wage and face dire consequences”.

A statement signed by the state Commissioner for Information and Communications, Mr. Paulinus Nsirim, said it was unfortunate that the state chapter of the NLC rather than show appreciation to the state government for the prompt payment of the minimum wage, allowed themselves to be willing tools in the hands of politicians.

He said, “NLC leadership should come out clearly to tell Rivers people that they are politicians instead of hiding under the cover of labour to propagate their political agenda.”

Group Decries Plot to Blackmail FIIRO DG Esther Oluku The Coalition of Civil Society Groups Against Corruption in Nigeria (CCSGACN) has decried an alleged plot to blackmail the acting Director-General of the Federal Institute of Industrial Research Oshodi (FIIRO), Mr. Chima Cartney Igwe, describing it as a “desperate attempt to bring into disrepute Igwe’s integrity.”

The group added that all forms of aspersions by the media and top staff of FIIRO to discredit the personality of the DG should stop and an official apology tendered by the staff union and a copy published in the national dailies in reparation to the DG’s reputation.

According to a statement signed by top executives of CCSGACN, Mr. Emmanuel Ayodeji and Mr. Usman Babale, “The plot to remove the DG

is allegedly being hatched by top notch staff of the institute with covert support from some individuals outside the institute who hope to benefit by becoming the substantive DG of the institute.

“You will recall that this is not the first time attempts have been made to remove him from office especially after his emergence as the acting DG. Soon after his appointment and following petitions as regards the genuineness of the certificates in his possession, the minister ordered investigation into the matter and subsequently make public their findings.”

While alleging that ethnicity had also played role in the unfavourable disposition of top members of staff towards the DG, the group maintained that Nigeria would remain undivided in ethnic diversities.

CONGRATULATIONS…

L-R: Coordinator, Presidential Amnesty Programme, Prof. Charles Dokubo; and a trainee of Bradama International Skill Works Limited, Mr. Timi Akinbo, receiving Best Operator Award from Dokubo at awards night in Lagos…weekend

Police Begin Recruitment of 800 Special Constables in Ekiti Victor Ogunje in Ado Ekiti The Police in Ekiti State have begun the process to recruit 800 special Constables that will work with conventional police force to tackle the rising level of insecurity in the country.

The Inspector-General of Police (IG), Mohammed Adamu, had last month given the directive to all police commands to liaise with stakeholders in each town and local government area to recruit

special operatives.

The recruitment, which was in tandem with the community policing strategy of President Muhammadu Buhari, was targeted at reinforcing the security personnel to be able to mitigate the rising waves of killings, kidnappings and banditry across the country.

In a statement issued by the state Police Commissioner, Mr. Asuquo Amba, at the weekend, the forms have been distributed

to all police stations across the state where interested applicants could procure before presenting themselves for screening at an appointed date.

However, the statement, which was signed by the state Police Public Relations Officer (PPRO), DSP Sunday Abutu, didn’t quote the Police Commissioner as stating the exact number of operatives to be recruited, but investigation revealed that 50 personnel would be recruited in each of the 16 local

government areas of the state.

It said: “This is to inform the public that in line with the approval and the directives of the federal government through the IG, Mohammed Adamu, for the recruitment of special Constables into the Nigerian Police Force to enhance the community policing policy nationwide, the state Commissioner of Police has given a directive for the exercise to kick off across the 16 local government area of Ekiti State.

Buhari Has Done Well for N’Delta, Says Dokubo Ndubuisi Francis in Abuja Coordinator of the Presidential Amnesty Programme (PAP), Prof.

Charles Dokubo, at the weekend lauded President Muhammadu Buhari for what he described as his unwavering determination towards deepening peace and development in the Niger Delta region.

Dokubo said Buhari has done well for the people of the oil-rich region, especially with the Amnesty Programme, which he said had trained over 3,000 beneficiaries in less than two years

under his (Dokubo) watch from March 2018.

Speaking in Lagos on the sidelines of a ceremony organised

by Bradama International Skill Works Limited, a leading construction firm in the oil and gas sector, the Amnesty boss noted that the programme has achieved huge success in transforming the lives of its beneficiaries.

“We have had more than 3,000 beneficiaries who have been trained since I took over office.

And we also have a job placement unit that looks for jobs for them.

The issue is that the government

cannot provide everything; what government does is to create an enabling environment from which people can key into to get something. We believe that with time, those who have been trained, their training will not be wasted.

They will go back into the society and attain great heights.

“I believe the Amnesty programme has done a very good work with the support of the federal government. The Buhari administration has been very particular about the Niger Delta, and I believe that if we can use what is available to us well,

the Niger Delta region will be in a different place from what it is now,” Dokubo was quoted to have said in a statement issued by his spokesman, Murphy Ganagana.

While identifying job placement for already trained beneficiaries as a major challenge, Dokubo, however, assured Nigerians that the job placement unit of the Amnesty office would intensify the hunt for job opportunities, even as payment of monthly stipends and allowances, training and empowerment of beneficiaries will be prioritised.

Osun to Empower 200 Indigent Women Quarterly Yinka Kolawole in Osogbo Osun State Commissioner for Women and Children Affairs, Olubukola Olaboopo, has promised that nothing less than 200 indigent women in the state would add value and become self-reliant before the quarter of this year.

Olubukola, while highlighting some of the achievements recorded by the ministry in the last one year, said no stone would be left unturned

in making sure women in the state are economically liberated.

Speaking on the menace of rape, domestic violence and other forms of oppression against women, the commissioner urged women to speak out any time their right are tampered with.

According to her, “We have immediately commenced activities so far on women empowerment; we have organised sensitisation programme to eliminate

violence against women which the people of the state have welcomed. We had the state deputy governor, all cabinet members, all men and women from across all cadres at the event. “It was to sensitise our people that it is no longer tolerated for women to be violated and domestically abused.

“We are telling our people to speak out, because if they don’t speak out, there is no way the government can

assist them.

“Apart from that, we have also commemorated the International Women Right Day where we had all the women in the state assembled.

We were able to get resource person from the Ministry of Justice who sensitised our women on what their rights are, and for them to be able to identify when such right are violated as well as be able to seek redress when that rights are being violated.”

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MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

Spanish Giants, Barca, Madrid Make Contact with Lille over Osimhen

Femi Solaja with agency report

Rave of the moment and Super Eagles forward, Victor Osimhen, could soon become a battle off the field between La Liga giants FC Barcelona and Real Madrid after reports in Spain claimed that the duo have been in talks with French outfit Lille OSC as they consider moves for Nigeria international at the end of the season.

The 21-year-old has been one of the standout players in Lique 1 and in UEFA Champions League for his club although they failed to reach the knockout phase and scored 15 goals and picked up five assists across all competitions.

Osimhen, who was part of Nigeriaâ&#x20AC;&#x2122;s bronze wining Super Eagles at AFCON 2019 in Egypt has established himself as one of the most exciting young strikers on the continent over the last 18 months, and French newspaper Le 10Sport reports both Real Madrid and FC Barcelona made contact with Lille during the January transfer window over a potential summer move for

the striker.

Spainâ&#x20AC;&#x2122;s two biggest clubs apparently held talks with the Ligue 1 side to discover what their plans were for Osimhen at the end of the season, rather than looking to complete a move during the middle of the campaign.

The two sides of the El Classico are on the lookout for a new striker, with Luis Suarez and Karim Benzema respectively coming towards the end of their careers at the highest level for the two Spanish clubs respectively.

Barçaâ&#x20AC;&#x2122;s main target will still be Lautaro MartĂ­nez at the end of the season, but there are still concerns over how the club will be able to finance a move for the Argentina international.

Real Madrid have also shown some interest in MartĂ­nez, although itâ&#x20AC;&#x2122;s still unclear who Los Blancos will prioritise as they look to find Benzemaâ&#x20AC;&#x2122;s long-term replacement - a role which almost certainly wonâ&#x20AC;&#x2122;t be taken up by summer signing Luka Jovi.

Osimhen isnâ&#x20AC;&#x2122;t the star name that Barcelona or Real Madrid fans would be hoping for once the summer transfer window opens, but the Nigeria international could actually prove to be one of the signings

of next season.

Arriving at Wolfsburg in 2017, Osimhen didnâ&#x20AC;&#x2122;t really get a chance to impress in the Bundesliga and he was eventually loaned out to Belgian side RSC Charleroi

for the 2018/19 season. That deal also included an option to make his move permanent for just over ÂŁ3m.

After scoring 20 goals for Charleroi, Osimhen joined the club on a full-time basis last

summer, but moved to Lille just one month later in a ÂŁ10m deal. Heâ&#x20AC;&#x2122;s scored 15 goals since arriving at the Stade Pierre Mauroy , sitting fifth in the top scorersâ&#x20AC;&#x2122; charts in Ligue 1.

Victor Osimhen (right) is on the radar of both Barcelona and Real Madrid

NPFL: Plateau Utd Edge Rivers Bill Cusack and Sarah Clark Judo Master Utd 1-0 to Reclaim Top Spot Class Ends in Uyo Plateau United are back to the top of the Nigeria Professional Football League (NPFL) after edging close rivals, Rivers United 1-0 yesterday in the Match-day 18 clash in Jos. The climb to the top is also a fallout of defeats to Lobi Stars and Sunshine Stars and failure of Akwa United and Dakkada to secure a win in Nnewi and Bauchi.

The shock result however came out of Lafia where Nasarawa United shook off initial jitters to peg back Abia Warriors.

According to www.npfl.ng reports Plateau United laboured

MATCHDAY 18 Jigawa GS 1-0 Ifeanyiubah 0-0 Heartland 1-0 Kâ&#x20AC;&#x2122;Pillars 2-0 Kwara Utd 1-0 Plateau Utd 1-0 Wikki 1-1 Nasarawa Utd 3-1

Lobi Akwa Utd Sunshine Adamawa Utd MFM FC Rivers Utd Dakkada Aâ&#x20AC;&#x2122;Warriors

very hard to earn the win over fellow title contenders Rivers United at the New Jos Stadium.

An early goal from Ibrahim Mustapha in the third minute ensured the Jos side returned to the top of the NPFL after a brief spell trailing Lobi Stars on the log.

At the Tafawa Belowa Stadium in Bauchi, Dakadda FC missed a chance to get into the top three after being held 1-1 by Wikki Tourists.

Jackson Daniel scored for the hosts in the 68th minute while Ajayi Olawafemi equalized in the 87th minute for Dakkada Dakkada are still 4th on the NPFL table while Wikki are 14th.

Heartland cemented their place in the Top Ten of the NPFL after a hard fought 1-0 win over Sunshine Stars at Okigwe.

An early goal from Abiodun Thompson was defended all through for the Maze Millionaires to win all three points and move up to seventh on the table.

CAF Confed Cup: Enyimba Qualify for Qâ&#x20AC;&#x2122;final Nigerian champions Enyimba have qualified for the quarter finals of the CAF Confederation Cup after they defeated FC San Pedro of Cote dâ&#x20AC;&#x2122;Ivoire 5-2 in Abidjan on Sunday.

Enyimba finished second behind Moroccoâ&#x20AC;&#x2122;s Hassania Agadir in Group D with 10 points.

Closest group rivals Paradou AC from Algeria finished third on eight points after they upset group winners Hassania Agadir 3-0 in Morocco.

In Abidjan, Enyimba were fast off the blocks as early

as the second minute, when Abdulraham Bashir opened scoring.

Victor Mbaoma made it 2-0 a minute later, before the home team pulled a goal back on six minutes.

Austin Oladapo restored his teamâ&#x20AC;&#x2122;s two-goal cushion in the 25th minute.

However, San Pedro fought back to pull a goal back just before half time.

Enyimba then made the tie safe in the second half with goals from Mbaoma and Stanley Dimgba.

The Bill Cusack and Sarah Clark Judo Master Class sponsored

by Accugas, a subsidiary of the Savannah Petroleum Company took place at the weekend in Uyo, Akwa Ibom State with over 50 judo players in several categories in attendance.

The world-class event which is the first of its kind for judo in Nigeria held at the Wanniba Hall of Ibom Golf and Resort in collaboration with the Edinburgh Judo Club, the Nigeria Judo Federation and the Wakuta Judo Club of Uyo. Bill Cusack a 7th Dan who competed for Great Britain at the Barcelona Olympic Games and has coached several judo players to stardom along with Sarah Clark, a 6th Dan and three times Olympian took the over 50 Nigerian players on the two days intensive training sessions.

Sarah Clark and Billy Cusack

L-R: Coach, Edinburgh Judo Club, Sarah Clark; CEO of Savannah Petroleum, Andrew Knott; President, Nigeria Judo Federation (NJF), Prince Timothy Nsirim; Coach, Edinburgh Judo Club, Billy Cusack; and Head of Stakeholder Relations and Communications, Savannah Petroleum, Nkoyo Etuk, during the judo master-class sponsored by Accugas Limited, a Savannah Petroleum Company, in Uyoâ&#x20AC;Śat the weekend

are coaches from the Edinburgh Judo Club in Scotland.

Speaking at the event, CEO of Savannah Petroleum, Andrew Knott, expressed his appreciation

to the two coaches for helping to shape the sport in the country. â&#x20AC;&#x153;We at Savannah Petroleum are delighted to collaborate with the Edinburgh Judo Club, the

Nigeria Judo Federation and the Wakuta Judo Club to organise this important event, the first of its kind for judo in Nigeria. â&#x20AC;&#x153;We are sponsoring this event as our contribution to the growth of judo in Akwa Ibom State and Nigeria â&#x20AC;&#x201C; a sport that yet is not popular like football. â&#x20AC;&#x153;We hope that the Master class will help nurture talents that will represent Nigeria in the future at major international judo events and competitions such as the Olympic Games,â&#x20AC;? observed the CEO who is a passionate judo player.

Also speaking at the event, President of the Nigeria Judo Federation Prince Timothy Nsirim praised the efforts of Savannah Petroleum in bringing the two world-classed coaches to Nigeria to help train Nigerian judo players.

New Dawn as Maltina School Games Debut A new chapter is to be opened in sports in Nigeria as all is now set for the Maltina School Games billed to take place in four secondary schools across the country.

At a press conference held Friday in Lagos, the modalities for the exciting Maltina School Games project were unveiled and organisers have given assurances that this is the beginning of the much-needed revival in School sports; especially Track and Field where Nigeriaâ&#x20AC;&#x2122;s former unrivalled influence is now weaning.

Tagged â&#x20AC;&#x2DC;Maltina School Gamesâ&#x20AC;&#x2122;, the platform is a series of track and field sporting competitions held across four states in Nigeria

to grow future champions at the secondary school level.

The National Finals is billed for Lagos between 2nd - 6th March 2020 after this monthâ&#x20AC;&#x2122;s preliminaries and finals at the states levels have ben completed.

Speaking on the motive of the sports campaign, Managing Director, Nigerian Breweries Plc. Jordi Borrut Bel, said: â&#x20AC;&#x153;The Maltina School Games is a platform designed to promote the development of children, from improving their social and leadership skills, to bettering their wellbeing through sports.â&#x20AC;? â&#x20AC;&#x153;It also contributes to the United Nations Sustainable Development Goal 3, which is to ensure the health and

wellbeing for all, with a focus on young school children,â&#x20AC;? he added.School registrations for participation in the Maltina School Games have now officially commenced.

According to the organisers, registered schools will be required to present students who will compete in the state preliminaries heat and final events, which will hold across Lagos, Anambra, Abuja, and Kano. Qualifying students from schools across Nigeria will advance to the National Finals which will hold in Lagos.

Corporate Affairs Director of Nigerian Breweries Plc., Sade Morgan, also spoke on the essence of the campaign saying: â&#x20AC;&#x153;Maltina

is a brand that understands that happiness is not only a fleeting moment of joy, but it is the overall wellbeing that comes with activity, community bonding, and a drive for secondary school students across Nigeria to â&#x20AC;&#x2DC;play happyâ&#x20AC;&#x2122; together and share happiness.â&#x20AC;?

Key stakeholders including the President of the Nigerian School Sports Federation (NSSF), Olabisi Joseph; The Executive Chairman of the Lagos State Sports Commission, Sola Aiyepeku; former Nigerian Track star, Falilat Ogunkoya; and others have given thumbs up to Maltina for their brave move to save the future of sports in the country

MONDAY FEBRUARY 3, 2020 â&#x20AC;¢ T H I S D AY

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MISSILE

Uzodinma to Ihedioha

“Tell our friends on the other side to prepare for the next election in 2023 if need be; they will fail again. The 2019 Imo governorship election has been decided by the apex court. It has been decided by Imo people and it has been decided by God. Seven Supreme Court justices ruled that Hope Uzodinma was the duly elected governor of Imo State without any minority judgment” – Imo State Governor, Hope Uzodinma, telling Emeka Ihedioha and the PDP to forget about the 2019 governorship election in the state and focus on the 2023 polls.

OKEYIKECHUKWU

EDIFYING ELUCIDATIONS

okey.ikechukwu@thisdaylive.com

Ndigbo vs Funtua, Farouk and Babachir

F

ormer Secretary to the Government of the Federation (SGF), Babachir Lawal, in Sunday Sun newspaper of February 2, 2020, took on the Igbos in an elaborate interview that touched on many national issues. Although he did not seem to have taken the many political and institutional challenges that are standing in the way of Ndigbo in Nigeria today into full account in his prognosis, his observations about the “internally generated” problems of approach by Igbo politicians are spot on. He urged the Igbo elite to wake up to what it takes to become president in today’s Nigeria. Hear him: “The issue is that every corner of the country has an ambition…If people in Igbo land who want to be president are not ready to go around and canvass the nomination then they will never get there…What wins an election is a candidate that other parts of Nigeria will feel safe and comfortable with.” He did not preclude the possibility, or right, of the Igbo or anyone else for that matter to be president of the country. “If the person I know will best serve the interest of the country comes from the South-east, I will vote for him or her,” was Babachir Lawal’s submission.

Not quite done, he continued: “South-east must understand that sitting and crying marginalisation is not what gives the ticket…

My sister was one of Kingsley Moghalu’s campaign members. She talks about him as if he is Angel Gabriel. Why did the Igbo not vote him? Why did we not see all the votes from the South-east go to him? Why did 99 per cent vote from that region go to Atiku, a Fulani man from Adamawa at the expense of their son? During the 2014 APC convention in Lagos Okorocha was the man we feared most because we felt that with five states all the Igbo delegates would vote him as an Igbo man, and at that there was so much anti-Buhari sentiment… But Okorocha got all his votes from the North.

Why are they (Igbo) saying they are being marginalised when they do not patronise themselves?”

The above queries by Lawal bring out only one major aspect of the political crises facing the South-east today, namely, lack of elite consensus. There is also the benumbing leaning towards a messiah mentality by some Igbo who desire public office. Then you have the nihilistic in-fighting by a ruling elite that lives by a “me or no one else” philosophy.

Look where you may. Ask yourself whether it was the masses that gleefully mobilised to rig elections in some parts of the South-east, to give Buhari his required 25 per cent spread during the last elections, or the elite with poor strategic thinking and no real following.

But let us go back to more, presumably anti-Igbo-presidency, comments.

In the same newspaper, former Director General of the National Orientation Agency (NOA), Idi Farouk, said he did not want an Igbo, Yoruba or Hausa president, but a Nigerian president everyone would be comfortable with. The implication of his statement is that the ethnic roots of a president would not matter if the person in question is seen by all to embrace all.

Lawal

Thus, Farouk will rather have “a president of Igbo extraction” rather than “an Igbo president,” in 2023. From the standpoint of Realpolitik, he submits thus: “There had been no time that the Igbo have not been allowed to contest an election, but politics is about participation and the power to rally.”

Addressing Ndigbo, Farouk said: “My call to those advocating for Igbo presidency is that the only party that has rotation in its constitution is the PDP. I know this from a source book I did during my time at the NOA, which contained the manifesto and constitution of all the political parties. In terms of rotation, it is only the PDP that guarantees that, but that is not to say that any party has stopped anyone from contesting on the basis of their tribe. Like they have also not stopped women and the youth from becoming president. However, for you to be the president you have to be the candidate of a political party. To be a president you have to rally the people and gain national consensus.”

True. All true. But there is still the matter of poor leverage, perhaps occasioned by the systematic leaching of Ndigbo from all that matters in Nigeria today. But let us move on to Funtua’s submission on this same matter.

About a month ago, Alhaji Isa Funtua took it upon himself to shake an admonishing finger at South-easterners and their politicians on the matter of 2023 presidency. This was during a talk show on Arise television studios in Lagos. Addressing the Reuben Abati-led team of anchor persons, he said: “Nobody is going to hold you in this country like a newly-born baby. With due respect to the Igbos, they fail to understand…it is no issue of 2023 an Igbo man must be president of Nigeria. If you want to be president, belong.

You don’t want to belong; you will not be president. Abiola went out of his way. He cultivated people and he got the results. So, they should learn from there.” Valid points about Abiola, we must admit. But he did not become president.

Funtua’s observations are modified and reinforced in Lawal’s and Farouk’s submissions. The summary of it all is that Ndigbo should get their act together and create a profile that would have a reassuring effect on the rest of the polity, if they wish to be taken seriously. Entrusting them with the affairs and fortunes of the Nigerian State is not something that will happen while they are still regarded with suspicion. Yes indeed. But the question remains: …sorry, I forgot the question.

Alhaji Funtua’s comments, in particular, elicited heated debates, and even some outrage (even if feigned) within sections of the Igbo political elite, media practitioners and intelligentsia. But it was a mixed bag.

There were Igbo stakeholders who felt that the presumably offending statements were valid points, which the Igbo political leadership should take seriously if they wished to be relevant going forward. In fact, the statements of the three men mentioned and quoted here today should ordinarily be taken as providing warnings and signposts that should be reviewed, internalised for strategic planning and used as guide in designing a viable template for better engagement with the Nigerian state by Ndigbo. This was the dominant strand in the reactions to Funtua’s and Farouk’s statements at a recent private roundtable, where major stakeholders lamented the lack of consensus and group cohesion among Ndigbo on any matter.

The twin, or double-barrelled, interventions of Lawal and Farouk coming a month after Funtua’s frontal declarations has led to an attempt to build a consensus that is neither strategic nor forward-looking. It has led to a call on Igbo man or woman of repute to ignore Funtua’s or Farouk and Lawal’s statements. The expected benefit is this: If you do not endorse, repeat or reinforce such a statement, you will be seen not to be washing the Igbo dirty linen in public...

Now let us, for the sake of argument, ask: “Which one of the Igbo politicians of today can be likened to an Abiola?” Certainly not those whose eyes are so fixated on the presidency that it is almost beginning to hurt them from the continuous staring, even as they ignore their current watch in pursuit of a deleterious illusion. The growing concern about the fate of Ndigbo in Nigeria is connected with a restiveness occasioned by unemployment and a shrinking economic space that has fuelled calls for secession. Meanwhile, the call by the Independent People of Biafra (IPOB) only deepens the fears of other groups. Thus, IPOB is seen as symptomatic of the Igbo crisis in Nigeria, rather than a problem the Igbo youths and elite should help Nigeria to solve. The political elite that is on its own.

It is threatened by an IPOB that will rather have all current political leaders eliminated.

No one is entirely sure of what to do with (or about) an Ohanaeze that has long acquired a reputation for ineffectual grandstanding, or a business elite that is allergic to its own ethnic, or domestic, address in all its major investments.

The twin, or double-barrelled, interventions of Lawal and Farouk coming a month after Funtua’s frontal declarations has led to an attempt to build a consensus that is neither strategic nor forward-looking. It has led to a call on Igbo man or woman of repute to ignore Funtua’s or Farouk and Lawal’s statements. The expected benefit is this: If you do not endorse, repeat or reinforce such a statement, you will be seen not to be washing the Igbo dirty linen in public and, thereby, giving enemies a quotable person of repute on which to anchor their continued marginalisation of Ndigbo. Beautiful submission, I dare say!

But can anyone be rationally accused of washing family dirty linen in public when the linen in question has been hanging in the village square for weeks on end? It becomes doubly problematic, even tragic, disconcerting and indecent, when the owners of the linen are known, their address is on the hanging linen and everyone has become aware of their inability to use soap properly. Then, amidst all of that, members of the family whose dirty linen is in public view begin to urge one another not to say anything about the linen hanging in the village square; no matter what others choose to say or do about it.

Dirty linen is one thing, but smelly dirty linen is another. The latter has no hiding place. It is annoying to neighbours and bad for family reputation. A family so circumstanced will not hoodwink anyone into giving it the leadership stool of the community. So, nothing is gained when a group that has lessons to learn prefers to block its ears and stumble along; all the while calling whoever dares speak up, or call for strategic thinking, a saboteur. Truth is: the bulk of the current Igbo political elite is not amenable to advice, nor open to the Realpolitik of the Nigerian State of today.

What is playing out in Imo State today speaks volumes about the possibility of Igbo political development and redemption.

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