New Report Rules out Naira Devaluation in 2020 Says CBN has forex buffers, tools to keep naira stable Obinna Chima A new report has revealed that naira devaluation is unlikely in 2020 despite it being nine per cent overvalued and a deteriorating external position.
The report by analysts at Renaissance Capital (RenCap), one of the leading emerging and frontier markets focused investment banks, has also shown that the Central Bank of Nigeria (CBN) has enough
foreign exchange reserves buffers and monetary policy tools to keep the naira from depreciating in the short term, despite concerns about the drop in the country’s reserves to $36.5 billion as of Monday.
In the seven-page report, dated February 25, 2020, after their recent visit to Abuja earlier this month where they met key policymakers and development finance institutions in the country,
the analysts also stated that it decided to revise its forex forecasts, adding that they “expect growth to be flat at 2.3 per cent in 2020.” “We came away from our visit with the view that the
central bank will strive to maintain a relatively stable naira, by using the tools at its disposal. It is for this reason we revise our 2020 FX Continued on page 9
Dangote Commences Pre-testing of $2bn Fertilizer Plant ahead of Inauguration...
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Pundits Predict Fayemi, el-Rufai Joint 2023 Presidential Ticket Ohanaeze, Yakasai back Kaduna gov’s power shift advocacy as ACF, A fenifere differ
Christopher Isiguzo in Enugu, Segun James in Lagos and John Shiklam in Kaduna Political analysts yesterday forecast that the duo of Ekiti State Governor, Dr. Kayode Fayemi and his Kaduna State counterpart, Mallam Nasir el-Rufai, may pair for the presidential ticket of the All Progressives Congress (APC) in the 2023 election season. According to them, the duo looked good for the
ticket because among those being rumoured to be nursing presidential ambition, they paraded the most outstanding credentials and currently enjoy support from President Muhammadu Buhari and members of his kitchen cabinet. Already, there are subterranean moves in the ruling party to see that the APC fields one of its governors to succeed Buhari whose Continued on page 9
Magu Strikes Again, Sends Metuh to Jail Ex-PDP's spokesman heads for A'Court Alex Enumah in Abuja Barely few minutes after he was sentenced to a total of 39 years prison terms, a former National Publicity Secretary of the Peoples Democratic Party (PDP), Chief Olise Metuh, has said he will seek redress at the Court of Appeal to challenge his sentencing, which will run concurrently. Justice Okon Abang of the Federal High Court, Abuja,
yesterday sentenced Metuh to a total of 39 years imprisonment for money laundering, but he will spend only seven years in a correctional facility since his sentencing is to run concurrently. With his conviction, Metuh became the first official of the former ruling party to be convicted of what is widely believed to be campaign Continued on page 9
PRESIDENTIAL ENDORSEMENT... French President, Mr. Emmanuel Macron (left), and renowned Nigerian fashion designer, Kenneth Ize, after the president’s dinner with designers in honour of creativity at the Paris Fashion Week…yesterday
House Restates Calls for Resignation of Service Chiefs... Page 8
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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268
Your Investments Safe, Buhari Assures Foreign Investors Pledges commitment to address infrastructure decay
James Sowole in Akure President Muhammadu Buhari yesterday allayed fears of foreign investors in Nigeria over the safety of their venture capital. The president, at the inauguration of Ondo Linyl Industrial Hub at Ore in Odigbo Local Government Area of the state, said his administration would strive to guarantee the safety of foreign investments. The president, who was on a state visit to Ondo State, also inaugurated the Ore Interchange Flyover built on the BeninSagamu-Lagos Expressway, which was christened ‘Redemption Bridge’. The Ondo Linyl Industrial Hub, which already has four manufacturing companies producing different types of products, is the result of the Memorandum of Understanding (MoU) signed between the Ondo State Government and Mayor of Linyl Province, China during the state government’s investment
tour of China. The president, who congratulated Ondo State Governor, Mr. Rotimi Akeredolu and the people of the state for the industrial project, said: "I am impressed with what is on the ground here and I anticipate the positive impact it will have on people of this state. "I still recalled the initial brief from Governor Rotimi Akeredolu on this project at its conception. Back then, it was an idea. Today, due to hard work, dedication and commitment to delivering inclusive growth, that idea has now become a reality. "I take this opportunity to commend investors who saw Nigeria and Ondo State in particular as a viable investment destination. “I want to assure you of our continued support both at federal and state level as we move forward to the next phase of this project's lifecycle." While thanking traditional rulers and the host community
Dangote Commences Pre-testing of $2bn Fertilizer Plant ahead of Inauguration Ejiofor Alike Dangote Fertilizer Limited has begun countdown to the inauguration of its $2 billion Granulated Urea Fertilizer complex, with several critical sections of the plant going through various stages of precommissioning and test-run. With a capacity of three million tonnes per annum, the plant complex located in the Dangote Free Zone, has been classified as the biggest project in the entire fertilizer industry history in the world. Saipem of Italy is the Engineering, Procurement and Supervision (EP) Contractor for the project, while Tata Consulting Engineers, India, is the Project Management Consultants (PMC). According to a statement yesterday by the company, virtually all the section of the plant such as Central Control Room, Ammonia and Urea Bulk Storage, Cooling Tower, Power Generator Plant, Granulation Plant, have been completed and are going through pre-testing. Already, Dangote Fertilizer has started receiving gas supply from the Nigerian Gas Company (NGC) and Chevron Nigeria Limited (CNL) under the Gas Sale and Purchase Agreement to supply 70 million standard cubic feet per day (Scf/d) of natural gas to Dangote Fertilizer Limited. The statement added that the project, which will create thousands of direct and indirect jobs in construction and related fields, will provide a major boost to the agricultural sector by significantly reducing the importation of fertilizer in Nigeria and ultimately removing the need for imports when the plant is in full production. The Group Executive Director, Strategy, Portfolio Development and Capital Projects, Dangote Industries Limited, Mr. Devakumar Edwin, said Nigeria would be able to save $500 million from import substitution and provide $400 million from exports of products from the fertiliser plant. “The supply of fertiliser from the plant will be enough for the Nigerian market and neighbouring countries.
“I am happy that by the time our plant is fully commissioned, the country will become selfsufficient in fertilizer production and even have the capacity to export the products to other African countries. Right now, farmers are forced to utilise whatever fertilizer that is available as they have no choice; but we need to know that the fertilizer that will work in one state may not be suitable in another state, as they may not have the same soil type and composition. The same fertilizer you use for sorghum may not be the fertilizer you will use for sugar cane,” Edwin explained. He stated that the project, which is estimated to gulp $2 billion, is the largest granulated urea fertilizer complex in the world, with its three million tonnes per annum capacity. According to him, the fertilizer complex, which is sited on 500 hectares of land, has the capacity to expand as it is only occupying a small fraction of the allotted portion of land. Edwin added: “The management of the complex is confident that the fertilizer business will deliver reasonable profit to the company and its shareholders as it is projected that population growth and the need for food production will jack up the consumption of urea fertilizer beginning from 2020 when production of the production would have commenced in earnest. “The current consumption of urea estimated at a dismal 700,000 tonnes per annum by Nigerian farmers is said to be due to very poor usage and is believed to be the cause of poor product yield, which threatens food security in the country. “By 2020, Nigerian population is projected to increase to about 207 million, which would lead to increased food production. Estimates points out that around five million tonnes of fertilizers are required per year in Nigeria in the next five to seven years bifurcated into 3.5 million tonnes of urea and 1.5 million tonnes of NPK while current production levels in Nigeria are at 1.6 million tonnes by 2019.”
for their tolerance, understanding and support, Buhari urged them to sustain the collaborative effort to ensure the success of the investment. "I am confident that this project based here will utilise locally available raw materials to create jobs for young men and women in this locality, increase knowledge and capacity, and support our import substitution policy," he said. While inaugurating the flyover, Buhari said the federal government would sustain massive investment in the provision of infrastructure across the country. According to him, the flyover will boost economic activities in the state, ease traffic congestion as well as reduce accidents often experienced on the major road. Buhari said the federal government would meet its obligations to the state on the construction of the interchange flyover in due course. He explained that the redesigning and construction of the road to accommodate the interchange flyover was overdue as a result of the growing population in Ore.
''During the civil war and during my campaigns since 2002, I have become familiar with the terrain of Ore, which is a connecting city between the South-west and the eastern parts of our country. ''As a result of this, the city has a cosmopolitan population that is in the neighbourhood of 300,000. ''This is a city that can be described as a mini-Nigeria as almost all ethnic groups of our country are happily represented here. ''Let me commend Governor Akeredolu and his team for their great efforts and professionalism in putting this project in place. ''This project is executed in line with the spirit and drive of the federal government, which puts great emphasis on infrastructural development across our country, especially in the area of transportation, '' he said. Buhari praised a consortium of Nigerian engineers for the design and supervision of the flyover. ''We are proud of you and we want to assure our people that we would continue to utilise the expertise and experience
of local consultants who are competing favourably with their counterparts globally. ''Let me also advise that a maintenance system should be in place to safeguard road users throughout the lifetime of this very impressive flyover, '' he said. The president added that his administration has expended more on the provision of railway services, rehabilitation and construction of roads and bridges. ''We are confronting the infrastructure deficit head on. ''At the inception of our administration, we were faced with decayed infrastructure on our road network and railways, because of long years of neglect and lack of investment. ''However, our administration, as a result of our commitment to bridge this deficit, decided to source for funds and address the issue. ''Let me commend the collaborative efforts between the federal government and the Ondo State Government in respect of this project. ''I commend this type of collaboration between the
federal government and other state governments. ''No one tier of government can on its own achieve the overall development of our dear country, '' he said. Earlier, Akeredolu had told the president that the inauguration of the projects were part of activities to commemorate the third year anniversary of the All Progressives Congress (APC)-led administration in the state. While thanking the president for honouring the state with his presence, the governor requested reimbursement of funds spent on federal roads in the state. He appealed to the Minister of Works and Housing, Mr. Babatunde Fashola, to facilitate the approval of the president for the funds expended on all federal government projects in Ondo State, including the interchange, totalling about N10.89 billion. The projects include Aboto-Olokola Road Project, Ore-Okitipupa Road Project and construction of the Interchange Flyover across the Lagos-Benin Expressway at Ore.
WELCOME TO ONDO, MR. PRESIDENT... L-R: Ekiti State Governor, Dr. Kayode Fayemi; Ondo State Governor, Mr. Rotimi Akeredolu (SAN); and President Muhammadu Buhari, during a tour of the Ondo Linyl Industrial Hub, Ore, as part of the president’s visit to Ondo State...yesterday godwin omoigui
FG Unveils Adamawa, Nasarawa, Plateau for Pilot Scheme to Check Farmers, Herders’ Clashes Says governors, traditional rulers, others sign off on the deal Omololu Ogunmade in Abuja As parts of efforts to tackle the problems of farmers, herders’ clashes that have led to the death of hundreds of people and the destruction of property worth millions of naira, the federal government is set to launch a pilot programme of its National Livestock Transformation Plan (NLTP) in three states. The scheme, according to the National Economic Council (NEC) sub-committee on National Livestock Transformation Plan (NLTP), will take off in Adamawa, Nasarawa and Plateau States. The plan, aims at supporting the development of the livestock sector, was initially billed for
implementation in seven pilot states of Adamawa, Benue, Kaduna, Plateau, Nasarawa, Taraba and Zamfara. The states, meant to serve as pilot states, are said to have made land available for the project that will be funded by the federal government as soon as they submit their evaluation plan for the establishment of ranches or livestock centres. At conception, the NLTP was approved to take off with a budget of N100 billion. NLTP was conceptualised by NEC as an intervention programme to check frequent clashes between herdsmen and farmers. Answering questions from journalists after a closed-door
meeting with Vice President Yemi Osinbajo at the State House, Abuja, the Governor of Ebonyi State and Chairman of the sub-committee, Chief David Umahi, said the programme would address the farmer-herder conflicts. He stated that the three states had grazing reserves and consultations had been made with the people of the states and their traditional rulers who had expressed their willingness to embrace the programme. Umahi said yesterday's meeting was in furtherance of the committee’s commitment towards the implementation of the NLTP. “We have pencilled down three states that we have
evaluated: Adamawa, Plateau and Nasarawa. So, we are going ahead to ask them to submit their programmes and costing for implementation. "Three states that have grazing reserves and we have spoken to people in the grazing reserves, the traditional rulers, the district heads and the population within that location and they are willing to go with the programme: the NLTP," he stated. Umahi explained that the programme would run along with farming activities within the grazing reserves in affected states, with a line of demarcation drawn between farming and grazing activities. Continued on page 60
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GREAT FASHIONISTAS... L-R: International fashion stylist, Ahmed Jenke; International fashion model and Executive Producer, ARISE Fashion Week, Naomi Campbell; French President, Mr. Emmanuel Macron; and his wife, Brigitte, at a reception hosted by President Macron at French Presidential Palace in Paris…yesterday
House Restates Calls for Resignation of Service Chiefs Urges mass recruitment into military Airforce chief sends more assault helicopters to Niger Udora Orizu in Abuja, Francis Sardauna in Katsina and Laleye Dipo in Minna With the increasing spate of insecurity in the country, the House of Representatives has again passed a vote of no confidence on the service chiefs as well as the National Security Adviser (NSA) and called for their immediate resignation. The reiteration of the security chiefs' ouster came barely four weeks after the lawmakers had called on President Muhammadu Buhari to replace them. The Senate, last month after a six-hour debate on the spike in insecurity in Nigeria, had called on Buhari to declare a national security emergency in the country. The worrisome security
situation in the country also engaged the attention of the House, which at plenary had unanimously demanded the resignation of the service chiefs for suboptimal performance. The House had further requested the president to sack them if they failed to heed the call to resign. The House's renewed call for the removal of the service chiefs came against the backdrop of weekend attacks by Boko Haram fighters on Garkida town in Adamawa State. The insurgents operated for several hours unchallenged, shooting sporadically, killing many people and burning down houses and property. But the lawmakers, after unanimously adopting a motion sponsored by Hon. Yusuf Buba Yakub, demanded the immediate resignation of the
service chiefs and the NSA. The House also asked the federal government to urgently commence mass recruitment into the military. The call for more recruitment into the military came as the Chief of Air Staff (CAS), Air Marshal Sadiq Abubakar, has directed that more assault helicopters and medical personnel be immediately deployed in the troubled communities in Niger State, following the escalation in attacks on villagers by bandits. The Katsina State Governor, Hon. Aminu Bello Masari, has also admonished Islamic clerics and traditional rulers to shun inflammatory utterances capable of disrupting his administration’s efforts to end banditry and kidnapping orchestrated by those he called illiterates.
Presenting the motion entitled: “Motion of urgent national importance on the need for the federal government to provide adequate security, reconstruction and relief materials to parts of my constituency attacked by insurgents and for the Nigerian army review strategy on its current campaign against terrorism,” Yakub frowned on the security situation that has continued to claim lives and property. He warned that if nothing urgent was done to increase the number of soldiers by way of massive recruitment, it would impair the prosecution of the anti-insurgency war. He said: "The House notes that in the recent weeks there has been a series of upsurge in the activities of Boko Haram insurgents across many parts
of the northern zone, which has since 2010 continued to witness incessant attacks by the group. It is easy to recall in the last few weeks, the Auno in Borno State and Garkida in Adamawa State attacks, including others that are not reported. These have left the world asking questions that remained unanswered. "These attacks coming ferociously after a time the insurgents were said to have been highly degraded, to say the least, have left our people in even more grave danger and have left our homes, business premises, places of worship, farms and above all lives at the mercy of the insurgents." Supporting the motion, Hon. Sarki Ader from Sokoto State, said the sorry situation should invoke shame on the service chiefs and the
NSA who could not stop the attacks. He said: "It is a shame on the service chiefs and National Security Adviser. We invited them here about three times. They told us they are on top of the situation but as it is today, they are not on top of anything. It a shame on the service chiefs. We should not be afraid of anything. They should resign and give way to other vibrant and tested soldiers. The service chiefs and national security adviser should go. They are against nation. Hon, colleagues, please, support this motion and let them go." Also contributing, Hon. Ahmed Jaha from Borno State said the service chiefs have run out of ideas. Continued on page 60
Telecoms Subscribers Hit 185m in 2019 Teledensity rises to 96%
Emma Okonji Te l e c o m m u n i c a t i o n s subscriptions across all networks hit 185 million as at December 2019, up from the 173 million as at December 2018, according to the latest statistics released yesterday by the telecoms industry regulator, the Nigerian Communications Commission (NCC). The data showed that the telecoms industry added 12 million subscribers across all networks in one year, to reach 185 million in December 2019, with a teledensity of 96.7 per cent. While the subscription is made up of the total number of registered subscribers on all networks, teledensity is
described as the number of active telephone connections per 100 inhabitants living in an area and is expressed as a percentage figure. According to the figures, telecoms subscriptions have maintained a steady growth for eight consecutive months in the year 2019, beginning from April when the figure stood at 173.6 million and rose to 173.7 million in May, before rising again to 174 million in June same year. As at July 2019, telecoms subscriptions reached 174.9 million and in August same year, the figure rose to 176.8 million and in September, it was 179.2 million. The upward trend continued in October and November as
subscriptions rose again to 180.4 million and 182.7 million respectively, before rising to 184.7 million respectively. Of the total subscriptions base as at last December, MTN, which is the largest telecoms operator by subscriber number in the country, had 69 million subscribers on its network, while Globacom, the third entrant into the telecoms space, maintained the second largest telecoms operator position, with 52 million subscribers on its network as at December last year, a feat it has maintained in the past three years. In the latest statistics, Airtel was ranked the third largest telecoms operator, with a subscriber number of 50 million subscribers, followed
by 9Mobile with 14 million subscriptions on its network as at December 2019. The Minister of Communications and Digital Economy, Dr. Isa Pantami, had recently reiterated the federal government’s commitment to achieve a minimum of 70 per cent broadband penetration in Nigeria by 2025. The minister had said the Digital Economy Policy and Strategy for Nigeria would not be achieved without broadband penetration. According to Pantami, “Whatever we do, we relied so much on broadband penetration. That is why any effort to compliment what we have been doing to ensure broadband penetration,
even for one kilometre is highly commendable, we do not undermine it, we really appreciate it.” He had said the responsibility of building the ICT sector did not lie on government alone, noting that ICT globally are being supported and developed by private sector. Pantami had noted that “the main responsibility of government is to ensure that the environment is favorable and conducive and if there are any challenges, government will intervene. “This is what we will continue to do and I assure you within the time I am going to spend here, I will give 100 per cent to ensure that all the challenges we encounter are addressed.”
The minister, had added that government was serious when it came to broadband penetration and was waiting for the report of the National Broadband Plan Committee (2020-2025) recommendations for the stakeholders to join hands together and ensure they take broadband penetration to the next level. He had said the access gap in Nigeria was becoming worrisome, stressing the need to bridge it because broadband penetration remained directly proportional to Gross Domestic Product (GDP) of a country. According to him, the idea of coming up with digital economy is not only on paper, but to try to implement it religiously.
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PAGE NINE PUNDITS PREDICT FAYEMI, EL-RUFAI JOINT 2023 PRESIDENTIAL TICKET tenure expires in 2023. The analysts, who spoke to THISDAY against the backdrop of the recent advocacy by el-Rufai for power to shift to the South after Buhari’s tenure, confided in THISDAY that of all the governors in the South-west, which is the only zone in the southern part of the country where APC commands huge support, only Fayemi has the heft to give APC National Leader, Senator Bola Tinubu, who is said to be nursing a presidential dream, a run for the office. They added that the ambition of the duo threatens Tinubu’s presidential ambition, and likely to upstage him from the race. El-Rufai had recently said the presidency should return to the South after Buhari's tenure in conformity with the zonal arrangement embraced by the major political parties. He did not specify which of the three geopolitical zones in the South that should take the presidency in 2023 but added that it would be unjustified for the North to seek to retain the presidency after Buhari's tenure. Fayemi, whose second term tenure as Ekiti governor will end in October 2022, about six months ahead of Buhari’s, is
currently the chairman of the influential Nigerian Governors’ Forum (NGF), and commands respect among his colleagues across party lines. Besides, being in the same party with el-Rufai, both of them are close and the Kaduna governor was one of those who rallied support for him during the NGF chairmanship election, which Fayemi won unopposed. The analysts’ prediction came just as the apex Igbo sociocultural organisation, Ohanaeze Ndigbo and an elder statesman and a founding member of the Arewa Consultative Forum (ACF), Alhaji Tanko Yakasai, have lauded the call by el-Rufai that the South should produce Buhari's successor in 2023. However, the leader of the pan-Yoruba socio-cultural organisation, Afenifere, Chief Ayo Adebanjo, dismissed as diversionary, the governor’s statement, saying that the country should be restructured first before the issue of power rotation is discussed. But the Arewa Consultative Forum (ACF) described the governor's opinion as personal, adding that zoning and power rotation are not binding on any political party. The Ohanaeze said the only way to unite the country
would be for the South-east geopolitical zone to produce the next president by 2023. President General of the organisation, Chief Nnia Nwodo, in an interview with THISDAY, said by the time the South-east produces the next president, the problem of imbalance would have been effectively resolved. “I want to congratulate el-Rufai for coming to the realisation that power must return to the South. This is good, especially knowing full well that power should not be monopolised. “However, let the Kaduna governor bear in mind that power moving to the Southeast should be inevitable. I also expect him to come out openly to state that power should return to the Southeast in order to address the problem of imbalance in the system,” he said. Yakasai also expressed support for power shift to the South in 2023. He told THISDAY yesterday that he had been an apostle of power shift and rotation among all sections of the country. He said power rotation would give every section of the country a sense of belonging. “I have said before that it
will be wrong for the North to aspire to produce the president after Buhari because the country belongs to all of us. “I happened to be a member of the National Executive Committee of the defunct National Party of Nigeria (NPN), which introduced zoning and rotation and there was a reason for that. “The reason is that power should be rotating between the North and the South so that every section of the country is given a sense of belonging. “Not only between the North and the South, but also between the northern minorities and southern minorities. “So, the rotation includes minorities in the North and South so that both majorities and minorities would be given a sense of belonging. “Because if you don’t adopt to rotation and zoning, one big group like Igbo, can cooperate with northern minorities to get the presidency to their side or Hausa-Fulani in the North can collaborate with the Ijaws in the South and dominate the power all the time. “So, the rotation and zoning should go together so that every segment of the Nigerian society would be given the
opportunity to produce the president as the time goes on.” But Adebanjo faulted elRufai, describing his advocacy as a diversionary plot. He said: “I will not be a victim of that diversionary tactic. Anybody talking about where the presidency should go now is not honest.” Adebanjo added that the country must be restructured first before the issue of where the presidency will go can be discussed. “With what is happening, I don’t trust any election that will happen under Buhari. Let’s restructure the country, then we can decide where the presidency should go. “Why are they talking about presidency now when they know where it will go? He holds all the powers and he is deceiving the people. Let’s go back to where we are at independence; what is the problem with that?” He stated that both the president and his political party, the All Progressives Congress (APC), are not honest with Nigerians on the issue, adding that for peace to reign in the country, the nation must be restructured. The ACF, however, said the governor was expressing
a mere opinion. The Secretary of ACF, Mr. Anthony Sani, told THISDAY in Kaduna that unless there is a consensus by Nigerians or a law is enacted to make it binding on political parties to adopt zoning and power rotation, it will be difficult for the parties to implement it. “I have made it clear to the media that in the absence of national consensus or law on politics of identity symbolised by zoning and rotation of the position of the president that is binding on political parties, which are the organs to present candidates for elections in our nascent multiparty democracy, any position by anybody on which zone to produce the president comes 2023 is foolhardy because it has no traction. "Governor el-Rufai's suggestion on this issue is not more than his personal opinion, which is not binding on all our political parties. "Whether his suggestion is fair or not is not important because it has no backing of force of law or of national consensus. This is because democracy is a practice whereby majority holds sway. The position taken by the majority is deemed to be fair," Sani explained.
expects to boost revenue, was passed in just six weeks “which is unusually quick given that the Petroleum Industry Bill has been on the backburner for over 10 years.” “The Finance Bill 2019 that was passed late last year effected the VAT increase to 7.5 per cent, from five per cent previously, among other tax revenue-raising measures. These are the silver linings to an otherwise challenging macro-environment,” they added. The report stated: “On the demand front, there has not been a meaningful recovery in FDI since the oil price shock
of 2014/2015, in part due to low confidence owing to policy uncertainty. “Consumption also remains weak in part due to the lack of income growth and high inflation. Job creation has also been low. “Government consumption and investment are the main drivers of growth. The quickening of private sector credit growth is positive for growth overall. “But even though the linkage between the oil price and the non-oil sector has weakened, it is still stronger than that between credit and the non-oil sector. “On the supply side, the
drivers of growth in the nonoil sector (except for the fast growing telcos sector) have been slow in part due to structural and regulatory constraints.” With the hike in VAT and electricity tariff, the report stated that consumers were likely to be further squeezed in 2020. It noted that while credit growth has picked up on the back of the loan-to-deposit ratio (LDR) policy, “which is positive for the real economy, some argue this impact is undermined by banks simply extending more lines of credit to the same blue-chip clients, at lower interest rates.”
assignment. The judge held that Metuh ought to have known or probably knew that the funds were part of the unlawful activities of the former NSA, whom he (Metuh) said had no contract with in the first place and yet went ahead to dissipate the funds. While stating that the first defendant was not telling the court the truth, Justice Abang said if the defendants knew of the inflow of N400 million from the ONSA where he had earlier claimed in his statement that he never had any contract with, he (Metuh) ought to have questioned the source of the money and not have gone ahead to spend it. The court held that the only person who could have corroborated Metuh's claim that the money was authorised was the then president, whom the defendants planned to call but later abandoned. The court noted that even when it was subpoenaed to call Dasuki who was a principal officer to Jonathan, relevant questions were not put before Dasuki to affirm or deny that Jonathan directed that N400 million be paid to Metuh. "Having established that the money came from ONSA and there was no contractual evidence and ONSA not being a charitable organisation, the first defendant took no steps whatsoever to know why the N400 million was paid
to the account of the second defendant. "I agree with the prosecution that it was unlawful that the former National Security Adviser to have misappropriated public funds in favour of the first and second defendants. "Prosecution have proved the ingredients as regards count one", Justice Abang held, adding that the defendant turned a blind eye to the actual source of the inflow without a contract for which N400 million was paid. "I found the first defendant guilty in respect of count one and is accordingly convicted. "The second defendant is also guilty in respect of count one and accordingly convicted", Abang held. In counts two and three, Justice Abang held that evidence tendered by the prosecution proved that Metuh disbursed the funds received from Dasuki for the political activities of the PDP as well as for his personal use. "Metuh has not explained how N50 million was transferred to a joint account of his wife and himself," the court held. The judge added that all documentary evidence presented to the court failed to show any security services for which the N400 million was paid to the defendants, but rather flow of funds into PDP's campaign activities as well as Metuh's personal use.
In count four, the court also found the defendants guilty on the grounds that they failed to place material before the court to show that Jonathan engaged the first defendant on a national assignment for national security. The court also found the defendants guilty on counts five and six which bordered on making cash deposits beyond the maximum threshold, which is N5 million for individual and N10 million for an organisation.
NEW REPORT RULES OUT NAIRA DEVALUATION IN 2020 rate forecast to N375/$1, from N429/$1 previously. “The good news is that there has been no front loading of imports yet, implying there is no sign of pressure on FX yet. We believe the government has the FX reserves buffer and monetary policy tools at hand to keep the naira from depreciating to its fair value, in the short term,” the firm explained. They added that the proposed $3.3 billion Eurobond to be issued by the federal government in the coming months would further help to shore up both the reserves and the naira. They, however, said the
downside risks to the naira was forex swaps of between $4 billion and $6 billion, which implied that, “accessible reserves are 10-15 per cent lower than the gross number suggests.” “Foreigners hold about $13 billion of open market operations (OMO), which makes FX reserves vulnerable to a sell-off. “This may be mitigated by the fact that a sizeable share of the foreign money in OMOs is sticky because it is used as collateral for swaps and for hedging. “Strong import demand is expected to be sustained in 2020 and financial inflows
weak owing to low foreign direct investment (FDI) and equity-related portfolio inflows,” they stated. According to the report, Nigeria has had some positive developments in recent months that suggested some progress on the reform front. They listed some of these reforms to include the 2020 budget which was passed ahead of the start of the fiscal year (January-December) for the first time in some years, which implied government expenditure started being disbursed earlier this year. Others are the Deep Offshore Act, which the government
MAGU STRIKES AGAIN, SENDS METUH TO JAIL finance related offences. In the trial that began four years ago, Metuh and his company, Dextra Investment Limited, were arraigned on a seven-count criminal charge bordering on money laundering to the tune of N400 million allegedly received from the former National Security Adviser (NSA), Colonel Sambo Dasuki (rtd). They were also accused of laundering $2 million and conversion of public funds into private usage. But the former PDP spokesman denied the allegations, saying the funds were for a national assignment that the then President Goodluck Jonathan asked him to execute. However, delivering judgment in the case, Justice Abang held that the prosecution was able to establish the ingredients of guilt in all the seven-count criminal charge against Metuh and his company. Justice Abang handed down the minimum years as prescribed by Section 15 of the Money Laundering Act. Reacting to the judgment, Metuh's lawyer, Mr. Abel Oziokor, who expressed disappointment over the outcome of the trial, told journalists that they were already on their way to the appellate court. Oziokor while noting that the case is a novel one, described it as a good example
of a bad case. He said, "We have our appeal in our hands. We still have confidence in the law courts and we are heading upstairs to the three wise men to know whether he is right or wrong". Justice Abang in the judgment stated that notwithstanding the pleadings of leniency by counsel to the defendants, Metuh merited the verdict. The judge who berated Metuh for destroying his statement made to the EFCC, said the accused had opportunity to have remedied the situation before it got out of hand but bungled it. "He had opportunity to resolve the issue with the complainant when he was confronted with the statement of account showing that he transferred N50 million to an account owned by his wife. "He ought to have been sober because of the involvement of his immediate family," the court held. Justice Abang, however, warned other public officers not to dissipate public funds on private matters, adding that, "when you are faced with the facts of the case, particularly in situation like this you should not be assertive or stubborn." On count one of the charge, the judge sentenced Metuh to seven years imprisonment; count two, seven years; count three, five years; count four,
seven years, count five, three years with a fine of N25 million; count six, three years with a fine of N25 million and count seven, seven years imprisonment. The sentences, which are to run concurrently according to the judge, came into effect from yesterday when the judgment was delivered. The court also ordered the winding up of Dextra Investment Limited and also directed that the balance in the firm's bank accounts be forfeited to the federal government. Justice Abang in addition imposed a fine of N375 million on Metuh. Justice Abang held that Metuh and his company were guilty of unlawfully possession of N400 million from the account of the ONSA domiciled at the Central Bank of Nigeria (CBN). The court said evidence before it proved that the funds formed part of the unlawful activities of the then NSA, adding that the claim by Metuh that the funds were payment for a national assignment he carried out for Jonathan was untenable. According to the judgment, Metuh's failure to call Jonathan to give evidence was fatal to his case. Justice Abang held that he was certain that Jonathan would not have given a verbal approval for payment of the fund for any national
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% 10 9.7 4.2 2.8 2.2 % 9.6 9.3 8.8 8.1 7.9
WEDNESDAY FEBRUARY 26, 2020 ˾ T H I S D AY
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NEWS
IG: Our Personnel Strength Can’t Cope with Current Security Challenges Adedayo Akinwale in Abuja The Inspector General of Police, Mr. Mohammed Adamu has decried that the personnel strength of the Force cannot cope with the current security challenges facing the country. Adamu, who was represented by the Deputy Inspector General of Police (DIG) Operations, Mr. Abdulmajid Ali, disclosed this yesterday in Abuja at a public hearing organised by the House of Representatives Committee on Police Affairs, with the theme ‘Repositioning the Nigeria Police for an Enhanced Delivery’. He said that an a aggregation of the reports of the various Police Reform Committees under the current democratic dispensation indicated that the major challenges inhibiting optimal police service delivery included gross underfunding, inadequate personnel, poor remuneration and welfare regime, among others. Adamu explained that a comparative analysis between Nigeria and South Africa Police showed that while in 2018 the South African police got 46.87 billion rand or N1.1372 trillion for visible policing programme with a 6.89 per cent growth projection up to 2021/2022 financial year, the Nigeria Police had to do with N35 billion appropriation and an eventual release of N20 billion for capital and overhead expenditure. He stated: “Inadequate personnel to cope with the expanding and increasingly complex requirements of policing Nigeria’s growing population and crime profile. A strength of a about 302,000 police officers police a population of about 200,000,000 is definitely inadequate.” Adamu noted that this runs short of UN standard for policing, stipulating a ratio of 1:350/400 people and called for “a sustainable recruitment of at least 50,000 personnel every year for
the next 10 years to address the manpower inadequacy.” He added that in Kenya for example, a Police Constables take home earning is about 34,907 Shilling or N126,000, whereas his Nigerian counterpart earns unfortunately less than N50,000, stressing that pitiably, this earning comes down to N12,000 to N18,000 of retirement. Adamu said that the paucity of funds has over the years made it impossible for an average Police Officer to be adequately trained and retrained for an enhanced service delivery, saying that an improvement in this area would no doubt enhance professionalism in terms of weapons handling, investigation and human rights observance operational equipment deficiency Adamu noted that not less than 1,000 Amoured Personnel Carriers (APCs); 250,000 assault rifles/corresponding ammunition, 2,000,000 tear gas canisters/smoke grenade, 200,000 Riot Gunners and Smoke Pistols, 1,000 Tracking Devices, 774 Operational Drones, among others are needed to cover the length and breadth of the nation’s infrastructural and Logistics Deficit Gap between the citizens and the Police . He further called on the lawmakers to review obsolete laws regulating police functions and enactment of requisite laws to aid the police institutional and human capacity orientation, as well as optimal police service delivery in line with modern dictates. On his part, a former IG and Chairman of the Police Service Commission (PSC), Alhaji Musiliu Smith said there was need to go beyond rhetorics by highlighting necessary measures to take that would certainly go a long way in ensuring earliest repositioning of Nigeria Police for enhanced service delivery. He noted that the old tradition of ensuring proper vetting of
Senate Asks Army to Establish Base in Sambisa Border Communities Deji Elumoye in Abuja The Senate yesterday urged the Chief of Army Staff, Lt. Gen. Tukur Buratai to immediately re-establish a military command base in Garkida and all major settlements bordering the Sambisa forest. The lawmakers also called on the North East Development Commission (NEDC) to immediately embark on the rehabilitation of public and religious institutions destroyed during the recent attacks carried out by Boko Haram terrorists on communities in the state. The Senate lamented the development and urged the NEDC to provide assistance to other individuals affected by the senseless attacks. The upper chamber equally urged the National Emergency Management Agency (NEMA) to urgently assess the extent of damage and provide relief materials immediately to affected residents of Garkida community. The decision followed the adoption of the prayers sought by the member representing Adamawa Central Senatorial District, Senator Aishatu
Ahmed. Ahmed had reminded her colleagues that on February 21, 2020, an insurgent group attacked the people of Garkida, a peaceful town in Gombi Local Government Area of Adamawa Central Senatorial District. She said the insurgents, in over seven gun trucks and many motorcycles, attacked the town at about 7 pm and set many buildings ablaze. She lamented that three soldiers were killed in the attack while properties worth millions of naira were burnt or destroyed. She said public hospitals, schools, telecommunication facilities, police stations, buses, cars, food stores, private properties belonging to the people of Garkida, were either burnt or vandalised. She expressed worry that the Garkida crises were planned by the insurgents to have a religious connotation considering that churches and residences of some prominent indigenes were burnt. She said the act was aimed at destroying the foundation of peaceful co-existence among Garkida community and in Adamawa State as a whole.
prospective candidates during recruitment must be embraced again. He said mental/ psychiatric test be included as part of conditions for recruitment into the Police to
ensure that only people of sound mind find themselves into the force. On his part, Oba of Lagos, Rilwan Akiolu, stated categorically that the problem facing the police
force started with President Muhammadu Buhari when he was a military Head of State in 1984. He said: “All these problems we are discussing, honestly, I will
not say, I’m fed up. I only thank God that this our present Head of State is trying to put the police into perspective now, because the problem of police started with him in 1984, that is the truth.
COURTESY VISIT…
L-R: Deputy Executive Director, African Regional Institute for Geospatial Information Science and Technology (AFRIGIST), Mr. Abdoulaye Belem; Executive Director, AFRIGIST, Dr. Adewale Akingbade; Minister of State for Works and Housing, Mr. Abubakar Aliyu; Minister of Works and Housing, Mr. Babatunde Fashola; and Surveyor General of the Federation, Mr. Taiwo Adeniran, during a courtesy visit to the Ministry of Works and Housing headquarters, Abuja… yesterday.
Footballer’s Death: IG Disbands Zonal Intervention Squad The Inspector General of Police (IG), Mr. Mohammed Adamu, has disbanded the Zonal Intervention Squad (ZIS) in Obada-Oko, Ogun State, following the death of Remo Stars Football Club player, Mr. Kazeem Tiamiyu. ZIS is a special unit under the Assistant Inspector General of Police (AIG) Zone II that operates mostly around border communities of Lagos and Ogun states. The unit’s demobilisation was announced by the Deputy Inspector General of Police (DIG), Mr. Peter Ogunyonwo who accompanied the state GovernorPrince Dapo Abiodun to commiserate with the family of the deceased footballer. Tiamiyu was killed on Saturday
while the ZIS operatives who illegally arrested him were taking him to Abeokuta, the state capital. According to Ogunyonwo, the IG ordered that the ZIS’ office in Ogun be taken over by the state Police Command, adding that the team responsible has been recommended for dismissal. The DIG said the officers were on illegal duty and did not obtain clearance from the police formation in Sagamu before the operation. He said that the police would ensure more internal reforms in order to purge out unprofessional and “trigger-happy elements.” Debunking allegations by the police that her son was an internet fraudster, Tiamiyu’s mother disclosed that the footballer was
frequently harassed by policemen. She said a recent one before Saturday’s happened two-weeks ago when they attempted to arrest him. “Two weeks before his death, my son complained that operatives of SARS usually surround his car. In fact, he called his father on many of these occasions. “There was a certain day that his elder brother’s wife was delivered of a baby and he was at the hospital. Just as he went in, I was called that SARS operatives had surrounded his car. I rose and went there and on getting there, I met them. “I called one of their bosses immediately. I know the boss because during Gbenga Daniel’s
tenure, I served all policemen in the state souvenirs whenever they had meetings. So, he told them to leave my son alone and they did. “They told me they were sorry and I told them they should be sorry for themselves. “He usually wore his club’s jersey. He cherished the jersey more than any other cloth. I washed his jerseys almost everyday and his boots too. He had up to 15 pairs of boots. “Whenever he wears a white jersey, he would match it with a white pair of socks. His jersey and socks always match. He was in one of his jerseys that Saturday when the incident happened.
Africa Records Fresh Case of Coronavirus Barely one week after Africa got a clean bill of health on coronavirus disease, Algeria has recorded a fresh case of the disease. The Cable reported that a man who was placed in isolation at an Egyptian hospital had tested negative to the disease. However, six days after what was described as good news for the continent broke out, Algerian authorities announced that an
Italian citizen who arrived in the country on February 17 tested positive to the disease. “One case was confirmed positive for coronavirus (COVID-19), out of two suspected cases (both) of Italian nationality,” the North African country’s health ministry said in a broadcast. The victim’s identity was not stated and the hospital where he is currently being treated was
not made public. The virus, which broke out in Wuhan, China, has now infected more than 80,000 globally, killing at least 2,700. Earlier yesterday, Iran’s Deputy Health Minister, Mr. Iraj Harirchi, announced that he had contracted the disease. Harirchi, who has spearheaded Iran’s efforts to contain the virus, said he would begin treatment immediately.
“I wanted to tell you that I got corona. I had a fever yesterday. The tests came back positive last night. I isolated myself. Just a few moments ago, I was told that the final test came,” Harirchi had said in a video, which aired from his house. “I’ll start taking medicine. Generally, I feel fine. I just felt a bit tired, I had a fever, and it will drop.”
EFCC: We are Still Investigating Donations to Jonathan’s Presidential Campaign An investigator with the Economic and Financial Crimes Commission (EFCC), Mr. Shehu Shuaibu, yesterday revealed that the commission was still investigating donations towards the 2015 presidential campaign of former President Goodluck Jonathan. Shuaibu told the court presided over by Justice Rilwan Aikawa that some monetary inflows into the bank account of a firm, Joint Trust Dimensions Limited,
which is being tried for money laundering in connection with Jonathan’s campaign funds. The investigator is the third prosecution witness to testify in the case. The firm which is the fourth defendant in the N4.9billion fraud charges filed by the EFCC against a former Minister of State for Finance, Mrs. Nenadi Usman, a former Minister of Aviation, Chief Femi Fani-Kayode, and Mr. Yusuf Danjuma.
Fani-Kayode was the Director of Publicity of Jonathan’s presidential campaign organisation for the 2015 elections. They are being tried on 17 counts bordering on conspiracy, unlawful retention of proceeds of theft and money laundering. While being cross-examined yesterday by Usman’s lawyer, Chief Ferdinand Orbih (SAN), Shuaibu while going through the statement of account of Joint Trust
Dimensions Limited, pointed out some inflows into the firm’s account. He identified “N500million from Global Scan System Ltd on February 11, 2015; N300million from Diamond Bank on January 30, 2015; N250million from Castillo Torres BDC Ltd on February 11, 2015; N100million from Afrigate Energy Ltd, and N500million from Chief Emeka Ofor on March 13, 2015.”
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N900m Debt: AMCON Takes over Galadima’s Residence, Company Obinna Chima A Federal High Court sitting in Abuja, in Suits No. FHC/ABJ/ CS/1136/2019 has ordered the Asset Management Corporation of Nigeria (AMCON) to take over the business and assets of Bedko Nigeria Limited belonging to Alhaji Buba Galadima. A statement issued yesterday and signed by the Head of Corporate Communications of AMCON, Mr. Jude Nwauzor, revealed that Bedko Nigeria Limited and Galadima owed AMCON about N900 million. The loan was purchased during the first phase of Eligible Bank Assets (EBA) purchase from Unity Bank Plc in 2011, the statement said. “Since then, AMCON has
offered the obligor a good measure of olive branches and explored all avenues to resolve the matter amicably, but the obligor, and his company, Bedko Nigeria Limited have remained recalcitrant and unwilling to repay the huge debt to the Corporation,” it stated. According to the statement, the order, which was granted to AMCON by Justice AI Chikere, the presiding judge gave the government recovery agency the power to take over some properties belonging to the politician. It listed the properties to include House No. 15, Addis Ababa Crescent, Wuse Zone 4, Federal Capital Territory (FCT), Abuja and house No. 4, Bangui Street, Wuse 2 also in high-brow area of Abuja.
Galadima is a prominent Nigerian politician and engineer who formally was the DirectorGeneral of the Nigeria Maritime Agency (NMA) from 1996 to 1998. He was appointed National Secretary of the Congress for
Progressive Change (CPC) , which was formed then in the run-up to the 2011 national elections as a leading platform for now incumbent President Muhammadu Buhari. Galadima, was one of the
nine signatories that signed the merger agreement between some political parties that came together, including the All Progressives Grand Alliance (APGA); Congress for Progressive Change (CPC); All Nigeria Peoples Party (ANPP) and
Action Congress of Nigeria (ACN) to form the ruling All Progressives Congress (APC), which is the platform on which the current president of Nigeria contested and won the 2015 presidential election.
Lekki Gardens Building Collapse: Angry Judge Rejects Out-of-court-settlement Akinwale Akintunde Justice Sybil Nwaka of the of the Ikeja Division of the Lagos State High Court yesterday rejected an out-of-court settlement between the state government and Lekki Gardens Estate over a building collapse in 2017 in which 34 persons were reported dead. The judge rejected the “Plea and Sentence Agreement” between the state and the company because it was drawn up in the absence of families of those who died in the incident. The judge queried the two parties for not specifying the names of family members who would receive the N10 million compensation meant for the five persons the company insisted were the only casualties of the building collapse. Nwaka also faulted the amended charge arising from the out-of-court-settlement for leaving out the criminal aspects of
the original charges preferred by the state government against the property development company. After hearing from the defence and prosecution counsel at the continuation of trial yesterday, Nwaka berated the lawyers for tendering a ‘Plea and Sentence Agreement’ and an ‘amended charge’ before the court without observing due diligence. “The new charge is not before the court as far as I am concerned; we are still on the entire charge,” she said. The state government in 2017 filed a six-count criminal charge against the Managing Director of Lekki Gardens, Mr. Richard Nyong, and seven others over the collapse of a five-storey building where about 34 persons were killed. After the building collapsed on March 8, 2016, Lekki Gardens Estate reported that five people died in the incident as against the official figure of 34 casualties.
Advertising Agencies Must Be Tax-compliant to Survive, Say Experts Dike Onwuamaeze Advertising agencies have been advised to take cognisance of events in the economy and comply with all regulatory and tax policies in order to survive the tough business environment in the country. These views were expressed by speakers at the 2020 Business Outlook Seminar of the Association of Advertising Agencies of Nigeria (AAAN), which was held yesterday in Lagos. The theme of the seminar was “Nigerian Business Environment in the year 2020: Implication for Advertising Agencies.” Delivering the keynote address, the Partner and Head of Andersen Tax LP, Mr. Emeka Onwuka, explained that the Nigerian economy was projected to grow by 2.4 per cent in 2020. Onwuka attributed the anticipated economic growth to the early passage of the 2020 budget, the enactment of the
2019 Finance Act, stability of oil price in the international market and the growth of the non-oil revenue sectors among others. He, however, stated that government must be interested in helping businesses to thrive. He also advised economic actors to avoid decisions that would affect them and the economy negatively. “Government plays a central role in the life of businesses. I always joke that government is an executive holder in every business in Nigeria. So, government should be interested in how businesses thrive because it is when businesses thrive that government should thrive,” he said. Onwuka also warned advertising agencies to be tax compliant and ensure that they keep adequate records of their financial transactions in order to avoid the wrath of the tax regulatory agencies.
PROMOTING OPEN PARTNERSHIP…
L-R: Minister of State for Budget and National Planning/Nigeria Open Government Patnership (OGP) Co-chair, Prince Clem Ikanade Agba; and Chief Executive Officer of Global OGP, Mr. Sanjay Pradhan, during the opening of the Global OGP Steering Committee meeting in Berlin, Germany... yesterday.
Again, NLC Vows to Resist Increase in Electricity Tariffs Chris Uba The Nigerian Labour Congress (NLC) has restated its position on the proposed increase in electricity tariff announced recently by the Nigerian Electricity Regulatory Commission (NERC), saying the hike does not take into consideration the plight of Nigerians who are already riddled with poverty, and hence the proposal is unacceptable. The President of NLC, Ayuba Wabba, who spoke yesterday at a two-day Africa Social Partner Summit in Lagos, said the situation
of the economy, which has brought hardship to both workers and employers, does not necessitate any increase in the electricity tariff at this time. He said increasing the electricity tariff by as much as 78 per cent is not right even when the Discos and Gencos have not improved efficiencies in services, adding that many rich consumers were no more receiving supply from electricity distribution companies because of high tariff and inefficiencies. According to him, “We have heard that they want to increase
electricity tariff this year, in a time the economy is not doing well; when businesses are suffering from the issue of very high tariff. Our fear is that many businesses will further close down. “The major reason why over 500 companies have closed down in Nigeria is because of high tariff, and many companies will close shop if the increase in tariff is not stop.” Wabba said a media house told him that it pays N60 million monthly on electricity tariff, adding that if NERC goes ahead with the tariff hike, the company will not be
able to pay and will consequently disengage workers. He said the NLC would call a conference to make its position known to the government on the subject-matter of tariff increase. The NLC had last July stated that consumers across the country would not comply with the payment of electricity bill should the NERC go ahead with the proposed increase in the tariff. It also warned NERC not to succumb to the pressure mounted on the commission by power firms that had been calling for an increase in electricity tariff.
Kaduna Speaker Resigns to Avoid Sack John Shiklam in Kaduna The Speaker of the Kaduna State House of Assembly, Hon. Aminu Shagali, has resigned from his position. Shagali, who represents Sabon-Gari constituency in Zaria, was said to have submitted his resignation letter to the Clerk of the Assembly yesterday morning. The lawmakers were said to have accused him of bad leadership style, and forced him to resign or be removed.
Sources said his relationship with principal officers, members of the Assembly and the government had been at the lowest ebb. But in the resignation letter dated February 25, 2020, the former speaker said his resignation was for personal reasons. The Chairman of the Assembly Committee on Information, Hon. Tanimu Musa, confirmed that the submitted his resignation letter yesterday.
The hand written resignation letter reads: “I, Aminu Abdullahi Shagali, Speaker of the Kaduna State House of Assembly, hereby resigned my appointment as the Speaker on personal grounds.” However, a member of the Assembly who spoke on the condition of anonymity, said the former speaker was forced to resign because of his poor leadership style. According to him, “The speaker resigned because there were pressures from
members as a result of his leadership style. “The way issues were handled, and his relationship with principal officers, members of the Assembly and the government was unbecoming. “Things were getting out of hand. These are the issues that culminated in his resignation. He was advised to honourably resign instead of being removed, so as to give room for anybody who may provide good leadership style.”
Kidnappers to Face Death Penalty in Osun Yinka Kolawole in Osogbo The Speaker of Osun State House of Assembly, Hon Timothy Owoeye, yesterday said the state kidnapping and other related crimes (prohibition) bill 2020 would prescribe death penalty for kidnappers and also compliment efforts of the Amotekun Corps when fully inaugurated. The Speaker at the public hearing on Osun State kidnapping and other related crimes prohibition bill 2020 stated that
it is imperative to have an enabling law to ensure quick and diligent prosecution of kidnappers. Owoeye pointed out that ever since the issue of Amotekun Corps arose, there has been a downward trend in the cases of kidnapping in Osun and other South-western states. He held that the seveth Assembly under his watch is reviewing the existing laws on kidnapping which recommended that 14 years would be reviewed to death penalty.
The Speaker added that should the bill scale through the needed stages, those caught with human parts and kidnappers whose victims dies in the process of abduction would face death sentence as against imprisonment obtainable before now. Owoeye noted that with the way kidnapping is becoming lucrative, it is sacrosanct that laws with severe consequences be put in place to protect Nigerians from kidnappers. According to him, “Ever since
the issue of Amotekun came up, I have noticed downward cases of kidnapping in Osun and other South-western states; however I am more afraid of the surge in ritual related cases. “The country was saddened at the gruesome murder and dismembering of a 23-yearold 400 level LASU student, Favour Oladele, for money ritual purposes. We the Osun people are sadder that the killing took place in Ikoyi town, in our own soil.
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House Backs Bill to Confer Immunity on Presiding Officers Udora Orizu in Abuja The House of Representatives yesterday passed for second reading, a bill seeking to give leaders of the federal and state legislatures immunity from prosecution. The ‘Bill for an Act to Alter Section 308 of the Constitution of the Federal Republic of Nigeria, 1999 to Extend Immunity to Cover Presiding Officers of Legislative Institutions,’ sponsored by Hon. Olusegun Odebunmi, was narrowly passed as members were divided over it. The Presiding Officers are: President of the Senate, Deputy President of the Senate, Speaker and Deputy Speaker of the House of Representatives, Speaker and Deputy Speaker of a State House of Assembly. During plenary at the House of Representatives yesterday, the sponsor of the Bill, Hon. Odebunmi Olusegun while leading the debate said it is intended to protect the institution of the legislature
from distraction caused by unnecessary legal actions against Presiding Officers. The lawmaker explained that either genuine or not, such distractions have had serious negative impact on quality of legislation, as well as discouraging Presiding officers of the Legislative institution’s at National and State levels from taking the bull by the horn or take certain critical decisions when necessary for fear of unknown. But some of the lawmakers were not in support of the bill, saying it runs at variance with the spirit of democracy which shows transparency, probity and accountability. They reasoned that conferring such on the presiding officers of the legislature when there was clamor to remove the immunity currently enjoyed by the President of the country, the deputy, State governor and their deputies was not for the best interest of the people. Hon. Serguis Ogun from Edo State said it was not needed
NECO Sacks 19 Members of Staff for Certificate Forgery Kuni Tyessi in Abuja The National Examination Council (NECO) has dismissed 19 of its officials over allegation of certificate forgery. A statement issued yesterday by the Head, Information and Public Relations Division of NECO, Mr. Azeez Sani, said the Governing Board of NECO gave the approval for the dismissal of the 19 members of staff. Sani explained that a Staff Certificate Verification Committee constituted by the body carried out its assignment diligently by inviting some staff with questionable credentials to appear before it, during which
the affected staff attested that their certificates were forged. “The committee also contacted the schools and institutions which the affected staff claimed to have attended and the schools and institutions denied having certificated them,” he said. “At its 52nd Regular meeting, the Governing Board of the Council vetted the report of the Certificate Verification Committee and approved the dismissal of the affected staff.” The Governing Board had at its 17th Extra Ordinary meeting in November 2019, also approved the dismissal of 70 staff for Certificate forgery.
in Nigeria at this time, adding that there is even a clamor to remove the immunity the President is enjoying. Debating further, Hon. Solomon Bob from Rivers State said it was unnecessary granting immunity to the presiding officers of the legislature.
The House of Representatives has said that the outrage of the Social-Economic Rights and Accountability Project (SERAP) and other Nigerians over the approved 400 Toyota Camrys for the legislators is misplaced and better directed at the over 400 parastatals of the executive. SERAP and 192 concerned Nigerians had filed a lawsuit asking the Federal High Court in Abuja to restrain and stop the Speaker of the House, Hon. Femi Gbajabiamila and all members of the House from spending an estimated N5.04 billion to buy 400 exotic cars for principal
officers and members. The Spokesman of the House, Hon. Benjamin Kalu, in a statement issued yesterday, insisted that considering the state of Nigerian roads, which he said the executive is responsible for fixing, SUVs and not saloon cars or Camrys, should be approved for use by legislators in their official duties. He stated: “While it is understandable that the legislature, being the closest arm of government to the people has to bear the brunt of their frustrations at the executive arm of government, we must take care that our bias against the legislature does not become a
Ibrahim Shuaibu in Kano The Kano State Governor, Dr. Abdullahi Ganduje, has placed a ban on street begging in the state. Ganduje announced the decision during the launch of Basic Education Service Delivery for All (BESDA) and distribution of offer of appointment to 7,500 volunteer teachers, which held at Sani Abacha Stadium, Kano yesterday. The governor decried the “ugly situation”, saying the decision is part of his administration’s
The Steering committee of the 56-man Senate committee on Constitution Review inaugurated a fortnight ago by Senate President, Dr. Ahmad Lawan, is to hold its inaugural meeting today. The eight-man committee
consisting of principal officers, headed by the Deputy Senate President, Senator Ovie OmoAgege who also doubles as chairman of the larger committee, is to fashion out a working document for the main committee to work with. A ranking Senator told
of interests. Let’s subject this as part of constitutional amendment.” Supporting the Bill, Hon. Yakub Buba said that the membership of the national legislature was too large to leave their presiding officers without immunity.
effort to fully actualise the free and compulsory primary and secondary school education and integrate the Almajiri system to the policy. He said the new policy will give the almajiris, child beggars, other types of education. He added that while they will continue to acquire their knowledge of the Holy Qur’an, the kids would also learn English and Arithmetic. The governor explained that such will give them the opportunity to continue with
their studies to secondary school level and beyond. “This policy of free and compulsory basic and secondary education goes along with it integration of our Almajiri system into the mainstream policy implementation which suggests that English and Arithmetic must be included in the Almajiri schools curriculum,” Ganduje said. “That will give them an opportunity to continue with their studies to secondary schools and beyond.” He said teachers under the
almajiri school arrangement must accept the new approach or leave the state. “If you think you cannot accept that then you leave the state,” he said. “When Almajiri are caught begging, it is not only that beggar is caught, but their parents or guardians would be taken to court for disrespecting our laws.” The Emir of Kano, Alhaji Muhammadu Sanusi, had recently called for the arrest of the fathers who send out their children to beg.
Buratai Urges Troops to Sustain Momentum against Insurgents Insists on loyalty to constitution, president mandatory Kingsley Nwezeh in Abuja Forty eight hours after the infighting that led to the execution of three leaders of the Islamic State for West Africa (ISWAP), fighter jets of the Nigerian Air Force unleashed fire bombs on terrorists in Garin Maloma and Parisu in the Sambisa Forest general area. In apparent reference to the executions, the Chief of Army Staff, Lt. General Tukur Buratai, said he was elated by the giant strides made by the military so far and urged troops to sustain the momentum against the insurgents by unhinging the unholy alliance between the two terror groups. An update issued by the Nigerian Air Force on the ongoing war against insurgency, said the
grand act of self-sabotage.” “I would also go further as to say that considering the state of Nigerian roads (which the executive is responsible for fixing by the way) SUVs and not saloon cars or Camrys, should be approved for use by legislators in their official duties.” Kalu noted that describing official vehicles for legislators as luxury is a misconception, while lamenting that Nigerians easily lose sight of the importance and utilitarian value of the legislature “whenever they relish that red-hot chilli stew of sweet outrage at government”.
Constitution Review: Senate Steering Committee Meets Today Deji Elumoye in Abuja
that once the law it passed, he would be a beneficiary which brings about a clash of interest. He said: “This is a constitutional amendment. If by reason reason of procedures, you can exonerate yourself. No matter how you look at it, there is an issue of conflict
Ganduje Bans Street Begging in Kano
Your Outrage over 400 Exotic Cars Misplaced, House Replies SERAP Adedayo Akinwale in Abuja
In his words, “In my mind, it is totally unnecessary. We do not need any immunity now. I am against the immunity enjoyed by the president and the governors.” On his part, Hon Onofiok Luke from Akwa Ibom State advised the Speaker, saying
THISDAY on condition of anonymity yesterday evening that the committee has been scheduled to meet today shortly after the valedictory session to be held by the Senate for the late Senator Silvanus Longjan (Plateau Central), who died after a brief illness at an Abuja hospital last week.
Air Task Force of Operation Lafiya Dole conducted air strikes that destroyed structures and logistic facilities in the Sambisa Forest area. It said NAF jets pounded terrorist locations following intelligence reports that the insurgents, who attacked Garkida in Adamawa State, launched attacks from the area.
The update signed by NAF Spokesman, Air Commodore Ibikunle Daramola, said the “ATF dispatched its attack aircraft to engage both locations, destroying several structures housing the terrorists as well as some of their logistics stores, which were seen engulfed in flames”. Meanwhile, speaking at the
Career Planning and Management Seminar 2020 organised by the Nigerian Army Headquarters at the Nigerian Army Resource Centre, Abuja, Buratai expressed satisfaction with the giant strides made so far against the insurgents and urged troops to sustain the momentum of attacks.
WEDNESDAY FEBRUARY 26, 2020 • T H I S D AY
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COMMENT
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
THE SINISTER SIDE OF PROGRESSIVISM Sonnie Ekwowusi argues that progress comes with justice, fairness, truth and charity
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he man of this millennium has accomplished marvels. He has recorded ground-breaking success in practically all facets of human endeavour than in the past millennial. He has invented artificial intelligence and robots which he thinks would replace human beings in near future. He has composed the music Mozart. He has raised earth-bound stones into soaring Cathedrals. He has invented the means by which he can leave the world and embark on a voyage to the moon. He has classified the forms of nature. He has penetrated the “mysteries� of genetics. We are now witnessing an astonishing breakthrough in new forms of communication, especially the birth of the innovative social media. We have seen profound social changes in the world of politics, humanities, literature and art. This is the ideal imbued in progressivism. Progressivism is a political philosophy premised on the idea that the advancements in science, technology, economic development and social organization are vital to the improvement of the human condition in the society. The goal of progressivism is to re-invent a new world order in which democracy and “political correctness� will be the ultimate measure of progress. Progressivism is economic growth. Progressivism is less taxation and plenty of jobs. Progressivism is freedom of all to carry guns. Progressivism is subscription to the so-called “global right to choose� notwithstanding the fact that it runs counter to the universal principles enunciated in the Universal Declaration on Human Rights, 1948. True progressivism is reposing confidence in science and technological innovations alone to solve the vast problems of mankind. To unplug from the Internet even for a second according to the philosophy of progressivism, is an old-school behavior, a sign of backwardness. The new fad is to take a permanent residence online, and if possible, sleep online, eat online, or seek wisdom online. Progressivism also means political determinism. It means that the state can do everything The questions are: can we define progress in human terms or in measurable material terms? If the latter, are we happier when we acquire abundant material things? What of those immeasurable realities that bring us to true happiness and true progress? It is a great irony that just at the time we are crediting ourselves with so much progress and accomplishment in the world of science, technology, sports, commerce and so forth, progressivism is haunted by a spectre of decline and fall. Consider, for example, the 21st century. Perhaps no other century has the potential for so much technological progress, material acquisitions and improved communication has been heralded as in this century. Paradoxically no century have so many men, women and children suffered from so much pain, anguish and tragic death as the 21st century. Of course, there is no doubt that the previous centuries had had their bitterness, pains and paradoxes. But it appears that the bitterness, pains and paradoxes of the 21st century are bigger and much more felt than those of the previous centuries.
THE PEOPLE OF OUR TIMES ARE BY FAR THE MOST INFORMED PEOPLE IN THE HISTORY OF MANKIND. THE TROUBLE IS THAT CLEAR, WISE AND HONEST DEDUCTIONS AND INFERENCES HAVE NOT BEEN DRAWN FROM THE AVAILABLE FACTS AND INFORMATION
The truth of the matter is that human flourishing clearly transcends economic prosperity or technological development or improved human communication or abundant material acquisitions. This is why there is poverty and starvation amid plenty of material acquisition or even economic prosperity. Therefore mere advancement in science, technology, economic development and social organization without a concomitant integration into it, a total humanism or proper scale of values ends up imperiling the human person. It is interesting to learn that in his study of the nature of American democracy French lawyer, politician, statesman and historian Alexis De Tocqueville stated that men “can get used to anything except living in a society which does not share their manners�. He then concluded that “the influence of social and political system on manners is therefore worthy of serious examination�. The inference to draw reading Tocqueville’s reflections on American manners is that advancement in science, technology, economic development and social organization is not enough to build the best possible world. For example, empires not founded on justice, fairness, love, and the rule of law is a crumbling empire notwithstanding the scientific and technological advancement in the empire. In any case it is not even possible to build the best possible world. However we try to make the world a better place we cannot, for instance, abolish human conflicts let alone abolish four boards and six feet. If your approach is that progressivism is inevitable then you may end up being the most frustrated person on earth. For example, prior to the 9/11 terrorist attacks of the imposing World Trade Centre at Lower Manhattan, New York City, United States, many Americans did not know that a terrorist bomb could reduce the centre to rumbles within a twinkle of an eye. Before now if anybody had told a typical Chinese hustler that an outbreak of Coronavirus in China would constitute a big threat to the Chinese might and greatness he probably would have snubbed the person as an alarmist. But this is the reality that China faces today. There is this anecdote of a Chinese-Nigerian who was in Nigeria recently to deliver a paper at a conference. Hardly had he finished introducing himself to the participants than he noticed that all of them had jumped out of the window for catching coronavirus. If we must undertake to build a new world order that paves way for true progress we must aim at imbibing the great principles of civilization- above all justice, fairness, love of truth, charity and so forth. The trouble is not with the facts and information. We live in a new world of advanced communication system that places the latest information on our feet even per second per second. The people of our times are by far the most informed people in the history of mankind. The trouble is that clear, wise and honest deductions and inferences have not been drawn from the available facts and information. This is a deeper issue. If we dodge this issue, we shall continue to flounder without peace notwithstanding the advancements in science, technology, economic development and social organization.
INEC AND UNENDING CONSPIRACY THEORIES Any political party that disagrees with the deregistration exercise is at liberty to approach the court, writes Rotimi L. Oyekanmi
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n 6th February 2020, the Independent National Electoral Commission (INEC) announced the de-registration of 74 political parties. The Commission’s Chairman, Prof Mahmood Yakubu at a media briefing held in Abuja, attributed the action to the Fourth Alteration of the 1999 Constitution of the Federal Republic of Nigeria (as amended). Specifically, Section 225A empowered INEC to deregister a political party on the following grounds: breach of the requirements for registration as a political party; failure to win at least 25 percent of the votes cast in one state of the federation in a Presidential election; 25 percent of the votes cast in one local government area of a state in a Governorship election; at least one ward in a Chairmanship election; one seat in the National or State Assembly election or one seat in a Councillorship election. Before implementing this law, the Commission carried out an assessment of all the 92 registered political parties last December, using the just concluded 2019 General Elections and the Federal Capital Territory (FCT) Area Council Elections to determine the level of compliance. Let’s be reminded that INEC is only empowered to conduct local government elections in the FCT and good enough, the last FCT area council polls coincided with the 2019 general elections. Each State has its electoral commission, known as the State Independent Electoral Commission (SIEC) which conducts local government elections, although, INEC makes the National Register of Voters and list of registered political parties available to them when local government elections are conducted. After the assessment, 16 political parties fulfilled the requirements stipulated under Section 225A while 75 political parties failed. However, one political party filed a suit in court and obtained an order restraining the Commission from de-registering
it, therefore, the Commission could not take further action until the determination of the case. Another political party registered by court after the 2019 general elections could also not be de-registered since it was not among those assessed during the period. These two, plus the 16 political parties that initially scaled the hurdle, bring the total number of registered political parties in Nigeria today to 18. This is not the first time that INEC had deregistered political parties. Between 2011 and 2013, the Commission deregistered 39 political parties, relying on Section 78 (7a) of the Electoral Act 2010 (as amended). But some political parties challenged the Commission’s action at the time, insisting that the Electoral Act was inferior to the Constitution. The courts agreed with the political parties and ordered INEC to reinstate them. The Commission complied. Just as some political parties had challenged the Commission’s action at that time, an ample opportunity exists for any political party that disagrees with the latest move to also test the matter in court. Unfortunately, since the announcement was made, some of the deregistered parties even after filing their case in court have also embarked on unwarranted mudslinging, talking anyhow and making outrageous claims. The other day, the National Chairman of one of the deregistered parties on national television said INEC “does not have the power to deregister political parties�. He was wrong and he knew it. Contrary to the familiar conspiracy theories usually fabricated by aggrieved politicians each time INEC acts within its powers, the Commission did not make the Fourth Alteration of the 1999 Constitution. The legislators did and it is within their powers to do so. What the Commission was expected to do and simply did was to give effect to the constitutional amendment, based on the parameters prescribed by the same constitution. Therefore, it will amount to an act of ignorance for anyone to say that INEC acted unconstitutionally.
Again, a Presidential candidate of one of the deregistered parties recently made an unbelievable allegation – a fat lie – that the results of the 2019 general elections on which the commission based its assessment “have not been officially released anywhere.� Shocking! The results have, of course, been on the INEC website (https://www.inecnigeria.org/ elections/election-results/) since March 2019. They are displayed under five icons: 2019 Presidential Election, 2019 Governorship Election, 2019 Senatorial District Elections, 2019 House of Representatives Elections and 2019 House of Assembly Elections. In fact, his political party scored 4,340 votes in the Presidential election. In any case, the results were known at every segment of the general elections (Presidential, Governorship, National, State Assembly and FCT Area Council) even before they were officially announced, courtesy of an innovation introduced by the current commission to engender transparency in the electoral process - the People’s Result Sheet, also known as Form EC60E – which is pasted at every polling unit after an election. This innovation was introduced during the Anambra State governorship election held in November 2017. Agents of political parties are expected to attest to the results released at the polling unit level before they are entered into Form EC60E and then pasted at a conspicuous place for all to see. Indeed, Nigerians knew the winner of the 2017 Anambra governorship election even before INEC officially announced it, by simply doing the arithmetic of all polling units’ results in the state’s 27 local government areas. It is also not true, as conspiracy theorists have often claimed, that the 2019 General Elections were “discredited by every external and most local Observers and the international community.� A total of 335 Observer Groups, comprising 293 Domestic and 42 Foreign, applied for accreditation to observe the 2019 General Elections. The Commission accredited 159 Observer Groups
(120 Domestic and 39 Foreign). All of them, put together, deployed 73,562 Observers (71,256 Domestic and 2,306 Foreign). Out of these, only 42 domestic observer groups submitted reports on the election to the commission. In all the reports submitted by both domestic and foreign observer groups, there is nowhere that any of them expressly condemned or discredited the 2019 general elections. Of course, they individually drew attention to certain irregularities and weaknesses that they noticed in some of the places they deployed to, but they also commended the commission’s efforts in several other areas. To be sure, there was no single observer group with the capacity or personnel to deploy to all the 119, 973 polling units and over 50,000 Voting Points across the country where the elections took place. The point to note here is that each group could only report on what transpired at the location(s) where its members were privileged to cover. It is therefore an exercise in futility for embittered politicians and their collaborating pseudo civil society organisations to rehash lies about what transpired during the 2019 general elections. Nevertheless, the commission takes the observer reports seriously and will continue to make use of their implementable recommendations for the improvement of the electoral system. As for the credibility of the 2019 general elections, INEC believes, without any doubt, that the elections were free, fair and credible but not perfect. The beauty of it all is that all aggrieved persons had the opportunity to challenge the outcomes. And they did. A total of 807 post-election petitions were filed in the courts. Out of this figure, 582 were dismissed and 183 were withdrawn by the petitioners. Only 30 re-run elections were ordered by the courts, while INEC was also instructed to issue 12 Certificates of Return to persons other than those earlier declared as winners. Oyekanmi is the Chief Press Secretary to INEC Chairman
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T H I S D AY ˾ WEDNESDAY, FEBRUARY 26, 2020
EDITORIAL AS SECURITY SITUATION DETERIORATES… The authorities have to do more to win the confidence of the people
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t the end of the Security Council meeting chaired by President Muhammadu Buhari last December, the Chief of Naval Staff, Vice-Admiral Ibok Ekwe-Ibas said soldiers would be withdrawn from states where relative peace had been restored and deployed in needy areas in the first quarter of the year. But as violence and atrocities keep on growing and spreading across the country with renewed vigour, the government has had to suspend the plan. It is a wise move. All over the country, turmoil is growing at fast pace, as if driven by steroid. Boko Haram and Islamic West Africa Province (ISWAP), its most virulent partner in insurgency, are pounding everywhere including military locations while general banditry is at its peak. Despite claims of the bloodiest military operations against their locations, the insurgents seem undaunted. Even the elusive Abubakar Shekau was emboldened enough to release a video recently where he once again taunted the authorities. January and THE SECRETARY TO February 2020 may go THE GOVERNMENT down as perhaps the OF THE FEDERATION, bloodiest months in BOSS MUSTAPHA SAID the decade–long costly REPLACING THE SERVICE insurgency as no fewer CHIEFS WAS A ‘PROCESS’ than 500 civilians have been killed mostly WHICH HAS BEEN in the Northeast INTERPRETED TO MEAN THAT NO CHANGE WOULD and the former insulated North-west OCCUR of the country. On 6th January, some 30 persons were killed after a bomb went off on a bridge in the Gamboru area of Borno State. Three days after, 12 persons were murdered by suspected herdsmen at Kulben village in Mangu Local Government Area of Plateau State while 29 were shot dead a week later by some bandits in the Gunmi local council of Zamfara State. In
the same month within the state, 31 others were killed in two separate incidents. On 14th February, some bandits killed about 30 persons in Tsauwa and Damkar villages in Batsari local council area of Katsina State just as some 14 were reportedly killed by herdsmen in Uwheru community in Ughelli North council in Delta State. But perhaps the most harrowing was the 9th February attack on travellers at Auno, a village on the Maiduguri-Damaturu highway. Many of the victims were men, women and children locked out at a military checkpoint at 5pm on their way to Maiduguri, the Borno State capital.
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 HEAD, COMPUTER DEPARTMENT PATRICIA UBAKA-ADEKOYA
he president has rightly condemned the spate of violence. “The authorities must be allowed to investigate and deal with any breach that occurs,” he said. But not many are convinced that he and his security chiefs are handling the deteriorating security situation in the country with the seriousness it deserves. In separate sessions on the challenges, both chambers of the National Assembly recently passed resolutions that called on the president to make changes and treat the security situation as an emergency. But for Buhari, there seems no sense of urgency to review the “security architecture.” He has refused to commit himself to even the decent argument by many that he should ease out his service chiefs who have all passed their retirement age and appear evidently tired. Despite their continued stay in office has in itself become a security threat given the career stagnation it is causing within the armed services, the service chiefs seem indispensable to the president. Last week, the Secretary to the Government of the Federation, Boss Mustapha said replacing the service chiefs was a “process” which has been interpreted to mean that no change would occur. Nor is anyone sure that the suggestion of the Borno State governor, Professor Babagana Zulum that the military needs extra support in form of massive recruitment would be taken up. In a message to the fighting troops last week, the Chief of Army Staff, Lt Gen. Tukur Buratai said “it is just a matter of days to end the menace of the Boko Haram terrorists.” There is nothing on ground to justify such optimism.
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BEFORE WE ALL GET KILLED!
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igerian security challenges have continued to deteriorate with the growing distrust between the government and Nigerians. Nigerians have expressed dissatisfaction and disappointment with the way government responds to the killings in the country. The recent massacre of 30 stranded motorists and passengers in Auno village, Borno State, is very sad and frightening. While Nigerians are mourning the death of innocent travellers, other killings by armed bandits filtered into the air. It was reported that the family of 16 were locked up and burnt to ashes at a village in Giwa local government of Kaduna State by suspected bandits. The incessant killings have become a daily occurrence across the country. The frequent attacks by bandits and Boko Haram have proved that the government has failed in its duty of protecting lives and property. In the last one decade, the country has never known peace. It has turned to Golgotha where lives are being taken with impunity. Sadly, what Nigerians have continued
to hear from the constituted authorities is that Boko Haram has been technically defeated or the government is on top of the security situation. These assurances have failed to stem the tide of killings in the country. No wonder in recent times, there have been calls from different areas for Mr President to sack his service chiefs. The green chamber (house of representatives) Northern Elders Forum (NEF) and other civil society organizations, disturbed by the killings, passed a vote of no confidence on the service chiefs. To them, it seems the services chiefs have overstayed and run out of fresh ideas to confront the modern security challenges. But the call for Mr President to relieve the service chiefs of their post has fallen on deaf ears. The body language of Mr President has shown the under-performing service chiefs will not be sacked. With this development, it means Nigerians should continue to bear and tolerate their poor performances. This shows it will take long time for the country to end the ongoing carnage. Ibrahim Mustapha, Pambegua, Kaduna State
BOKO HARAM: TAMING THE RECALCITRANT MONSTER
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hen Carl Gottfried said war is the “continuation of politics by other means”, perhaps, he had Nigeria in mind. President Jonathan’s administration was criticized by Nigerians due largely to insurgency that held the nation to ransom under him. The opposition party rode on this to victory as they promised us a lasting solution to the Boko Haram insurgency: Nigerians en masse wanted two things at the 2015 general elections, a corruption-free nation and a nation free of insurgency. Yes, Jonathan failed us; He showed no concern for corrupt politicians and contingents in his government. President Muhammadu Buhari was our new bride in 2015. He promised us a nation that would work for all and sundry. He gave us hope with his words and told us that Nigeria can be great again. Under him, Boko Haram has been defeated technically. Our troop defeated the group to regain Baga; sent them to hibernation once again with Chibok girls still in their detention. Yet we are still at war with insurgency
while our political leaders are taking it to another level. They are now politicising the issue, leaving issue-based debates for political gain. Civilians are being killed in thousands, our soldiers are at the receiving end. There is no post-war rehabilitation for the tides of refugees, but Boko Haram repentants are liable to good living after destroying our nation. “This war that is yet to start would continue for a long time,” said Mohammed Yusuf in 2009. He left a decade ago and the conflagration is still on. Our political leaders are yet to see the insurgency as a slap on their corrupt faces, having spent around N4.7tr in the last 11 years. War is a business, and in business, people make profits. Our politicians are making fortunes out of our misfortunes, yet we are singing praises of them. We should wake up, charge this administration on the basis we elected it. We want a corruption-free nation and a country that would interest foreigners and citizens alike to stay in. Abdulwahab Tajudeen, abdwahabtajudeen@gmail. com
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WEDNESDAY FEBRUARY 26, 2020 ˾ T H I S D AY
NEWS
Gbajabiamila Warns against Extra-judicial Killings, Harassment of Nigerians by Policemen Adedayo Akinwale in Abuja The Speaker of the House of Representatives, Hon. Femi Gbajabiamila, has said that there is need to fix the Nigeria Police and restore public confidence in the Force. He stated categorically that the House would not accept extra-judicial killings, harassment, intimidation and other forms of violence unleashed on innocent Nigerians by police personnel. The Speaker, who stated this on Tuesday in Abuja while declaring open a public hearing by the House Committee on Police Affairs chaired by Hon. Usman Kumo, bemoaned the recent alleged extra-judicial killing of a footballer by the police in Sagamu, Ogun State. He said that although the public hearing with the theme ‘Repositioning the Nigeria Police for an Enhanced Delivery’ might come with some uncomfortable
truths, the Nigeria Police should take home the contributions of stakeholders as they would be the ultimate beneficiaries. Gbajabimila said that the public hearing has been convened to examine the ways the House can act to improve the capacity of the police to deliver on its obligations to the people. The Speaker however described as unfortunate a situation where some men of the police, saddled with the constitutional responsibility of protecting the lives and property of the people, turn out to be against the citizens. He stressed that more than any other institution of the state, it is the police that relate with the citizens daily, adding that in many communities across Nigeria, the Police Force is the only representative of the Nigerian state, and the connection between the citizens and the state is often defined by their interactions with the Nigeria Police.
House Urges FG to Appoint FCC Chairman, Commissioners Udora Orizu in Abuja The House of Representative yesterday called on the federal government to appoint Chairman and Commissioners for Federal Character Commission (FCC). The decision of the House was sequel to the adoption of motion of urgent National importance, moved by Hon. Ossai Nicholas Ossai. The lawmakers said the commission is without membership since 2018, urging President Muhammadu Buhari to immediately constitute the commission. Presenting his motion, Ossai urged the federal government to
appoint 27 more commissioners that would handle constitutional responsibility of the commission as required by law. He stated that the reduction in the number of commissioners is against the principle of fairness, equity and justice, adding that it is affecting the development of Nigeria as a country. Adopting the motion, the House mandated its committee on federal character commission to investigate the conduct of the commission to uncover the actions taking that breach the constitutional mandate of the commission, and to ensure compliance.
Tariff Review: BEDC Pledges to Improve Electricity Supply Plans 300MW embedded power project Benin Electricity Distribution Company (BEDC) yesterday said with a reviewed tariff it would revolutionise electricity distribution and provision of top services to customers by embarking on network re-alignment, and provide new distribution transformers and also provide dedicated express feeders towards ensuring power supply 24x7 to its customers. Speaking to customers across the franchise states of Edo, Delta, Ondo and Ekiti states during a public consultation forum organised ahead of the tariff review BEDC said it would actualise its proposal for an embedded power of about 300 megawatts under the willing buyer, willing seller arrangement with independent power generators outside the Transmission Company of Nigeria (TCN) national grid, to boost power supply and meet needs of customers. The company assured customers that it would also improve supply to commercial entities across its coverage states
due to the need to enable the companies ensure job creation and balance social lives, by adding new injection substations and 500 number distribution substations to strengthen existing network. The presentations which took place simultaneously in Benin City, Edo State, Asaba in Delta State and Akure in Ondo State was anchored by the Chief State Heads, who explained that the upcoming number of transmission stations would help BEDC reduce overloading and mitigate load growth, noting that “ageing equipment will be replaced in the next years to improve general public safety and ensure quality power to customers.” “Plan is ongoing to invest in electrification of electrified areas and strengthening of existing network,” BEDC said, adding that it also planned to ensure 100 per cent metering under the Meter Asset Provider (MAP) and 100 per cent enumeration and proper mapping of customers to transformers and feeders.
Gbajabimila noted that when the agencies that should protect the lives and property of the people become predatory, they lose the faith of the public and become incapable of delivering on this responsibility. He stated: “It is unfortunate
and entirely unacceptable that the relationship between the police and many of these communities is now defined by fear, mutual antagonism and an absolute loss of faith in the ability of the police to protect and to serve. “In the last few days, we
have all witnessed as the city of Sagamu in Ogun State has been unsettled by an orgy of violence resulting from the extra-judicial killing of a young footballer by officers of the Nigeria Police.” The Speaker equally lamented that the citizens who gathered to
protest this killing were dispersed by police bullets, stressing that the Sagamu killing was not an isolated incident,asthegreenchamber is daily inundated with news reports of interactions between citizens and the police resulting in the injury and death of those citizens.
ASSESSING AIR OPERATION…
L-R: Chief of Air Staff (CAS), Air Marshal Sadiq Abubakar; and Niger State Governor, Alhaji Abubakar Sani Bello, during the air chief’s courtesy call on the governor at the Government House, Minna…yesterday LALEYE DIPO
Hausa Community Protests Alleged Killing of Colleague by Rivers Task Force Ernest Chinwo in Port Harcourt The Hausa community in Port Harcourt, Rivers State yesterday evening embarked on a protest in the state capital against the alleged killing of their colleague by persons believed to be agents of the state Task Force on Illegal Trading. The angry protesters blocked the Presidential Hotel axis of the Port Harcourt-Aba Express Road to express their displeasure following the death of their friend
whose identity was yet to be ascertained. The Founding Father, Association of Northern Traders, Port Harcourt branch, Alhaji Lawal Daura, alleged that the operatives of the Rivers Task Force against Street Trading and Illegal Motor Parks arrested the deceased and returned his lifeless body minutes later. Daura stated that the deceased was a gold and other valuable articles collector who only visited
his friends near Presidential Hotel and was standing along the road before he was picked up by the task force. He said, “Sincerely I was not around when the incident happened, but when I came back I was told that men of the Rivers State Task Force came and arrested an elderly man who visited to see our people here and was arrested along Presidential hotel. “They took him inside their vehicle, drove away and after 10
to 20 minutes, he was brought back and at the end of the day, the man died, that was why our people protested against what the task force did.” A driver who plies the Port Harcourt Aba road, who did not want his name mentioned, however said a commercial taxi driver who was attempting to evade arrest by operatives of the task force on illegal motor parks and street trading hit the deceased who was standing on the road and killed him.
FG to Release New Policy on Royalties Payment in Mining Sector Kasim Sumaina in Abuja In its bid to increase revenue generated from mining, the federal government yesterday said its set to establish a new policy that would ensure mining companies pay the accurate royalties from their sales. The Minister for State of Mines and Steel Development, Dr. Uchechukwu Sampson Ogah, stated this during his tour of two mining companies, Venus Mining Company and Corner Stone Quarry in Dutse, Bwari Area Council in Abuja
He disclosed that the new policy would require mining companies to submit the printout of their ‘weigh bridges’ to the ministry so that exact royalties based on their sales record could be accurately calculated and paid to the government. Ogah added that the payment of due royalties to the government would provide the needed funds for infrastructural development of the country. The minister enjoined the management of the companies to ensure they have functional licence and adhere to mining
regulations, saying the ministry’s doors are always open to offer guidance. He reiterated the federal government’s commitment towards providing an enabling environment for investors in the sector. Earlier, the consultant to the companies, Muhammed Lawal, revealed that Venus Mining Company, a stone aggregate quarry, has the capacity to produce about 40,000 tones monthly. He, however, noted that it could produce about 60, 000
tones when the crusher is functioning optimally, adding that they should ensure that they engage in controlled blasting to keep with mining regulations. Also, the Managing Director of Corner Stone Quarry, Mr. Yilmaz Tavan, said the Quarry began operations in 2016 but had to stop for two years to reposition and re-strategise for better output. He added that as part of its repositioning effort, the company would take delivery of three new machineries from Turkey soon.
Union Kicks as Five Former ExxonMobil Workers Die without Receiving Benefits Onungwe Obe in Yenagoa Five former contract workers of oil producing giants, Mobil Producing Nigeria (MPN), who worked at the company’s Qua Iboe Oil Export Terminal, have died without receiving their full terminal benefits. The deceased were among 70 members who were sacked by the company in 2009 without being given their severance packages. A former Chairman of
Contract Workers branch of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) in MPN, Mr. Peter Akpenka, told journalists in Yenagoa that though MPN eventually paid the sacked workers in 2018, what was paid fell short by about N600 million. He alleged that the national leadership of PENGASSAN had been insensitive to their plight by trying to create a dichotomy between contract workers and
regularised workers. “We were locked out while our employment contract was still running, and under our labour laws, when there is such a breach of existing contract, the terminal benefits reflect and one is compensated for the breach. “It took them nine years to pay part of the benefits in 2018, and they are still holding on to the balance. So we are at a loss as to why our own union is working against us.
“Rather than use the subsisting Collecting Bargaining Agreement as at the time of our disengagement in August 2009 to compute our benefits, they connived and used an old discarded template, hence the shortfall. “We have communicated to them several times in writingwritten reminders-while this matter lingered over the years, and they have taken no action,” he said.
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T H I S D AY ˾ WEDNESDAY FEBRUARY 26, 2020
MIDWEEKPOLITICS
Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY
A N A LY S I S
How Japan Boosts Fayemi’s Rice Production Revolution in Ekiti Victor Ogunje writes that Ekiti State has entered the league of states producing rice in commercial quantity with a recent grant from the Japanese government facilitated by a civil society organisation
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he declining economic fortune of the nation and dwindling resources from the oil sector has taught the discerning chief executives of many states a good lesson. Every state of the federation is now compelled to look inwards and strengthen their local economies by fortifying and expanding the scope of economic benefits where they are identified as having comparative advantage. Dissecting the atmospheric and edaphic nature of Ekiti, it has unquantifiable comparative benefit in agriculture. Fortunately, Governor Kayode Fayemi came with a glowing vision that would develop a unique brand for Ekiti in agriculture, for state’s economic breakthrough and for the lifting of individual farmers. As was visible in his first term, between 2010 and 2014, Fayemi instituted some agricultural policies that changed the face of the sector. The Youth in Commercial Agriculture (YCAD), the cocoa and cassava revolution policy that was supported by the Agriculture Development Bank (ADB) and the subsidized agriculture implements were some of the areas where farmers enjoyed benefits that really improved the Gross Domestic Product (GDP) of the state. Fayemi could fathom the fact that Ekiti does not enjoy the cosmopolitan effect of a blossoming population and thick industrial hub like Lagos and is also landlocked with heavy reliance on agricultural produce like; cocoa, oil palm, kola nut, plantain, banana, cashew, water melon, citrus, timber, rice, yam, cassava, cocoyam, maize, cowpea. Having realized this, the governor decided to develop a brand around those areas where all the strata of the society could benefit through partnership with the corporate bodies, civil society organisations and other interested states of the federation. Looking at the possibilities of Ekiti production capacity, there is no crop that has brought so much fame to Ekiti like the Igbemo Rice brand. The existence of Igbemo predates the country’s amalgamation of 1914. For donkey years, its production by local farmers at subsistence level had no value added to give it better packaging despite being identified as uniquely nutritious and delicious. The state government, however, understood that the huge capacity that could have accrued to the state was being hampered by poor credit facilities for farmers and lack of modern equipment. The government decided to bring to the fore a modern innovation that can break this barrier, reposition the Igbemo and make it the mainstay of the economy. Many Nigerians are aware of the huge gains being savoured by Lagos and Kebbi States with their Investments in the production of LAKE Rice. The Ebonyi state economy has also been strengthened with the remodeling and repackaging of Abakaliki Rice among other brands being promoted by corporate organisations and individuals. To achieve this task, the governor has taken advantage of the veritable window in the partial closure of land borders by the Federal Government which has curbed rice smuggling into the country to a large extent. Local farmers now have opportunities to boost their economies and make gains out of this opportunity. Igbemo Rice may soon be accorded national recognition as the story is about to change with the giant leap being made by a civil society organization, the New Initiative for Social Development (NISD) to attract huge investment from the government of Japan to boost the capacity of local rice farmers in Ekiti State. The NISD has entered into a pact with the Embassy of Japan in Nigeria to provide farmers in Ekiti State with modern equipment to boost rice production and make the state one of the leading rice producers in Nigeria.
Cheque presentation by the Japanese Ambassador to officials of Ekiti State government and NSID The organization was presented with a cheque of $148, 209 by the Ambassador of Japan to the Federal Republic of Nigeria, Mr. Kikuta Yutaka. The Japanese government through its Embassy in Nigeria is investing in the provision of power tillers and combined harvesters for rice farmers in Gbonyin Local Government Area of the state. The grant which was facilitated by NISD is already causing excitement and a sense of fulfillment in the Ekiti State government and the local farmers to benefit from the project. There was excitement on February 20, 2020 when the contract was signed at the Embassy of Japan in Abuja in the presence of officials of NISD, Ekiti State Government and Japanese diplomats. The Ekiti State Government was represented by the Commissioner, Ministry of Agriculture, Mr. Folorunso Olabode; Special Adviser to the Governor on Development Partnerships, Mrs. Margaret Fagboyo and Special Assistant to the Governor on Civil Society Matters, Mr. Biodun Oyeleye. While Ambassador Kikuta signed on behalf of the Japanese Government, Mr. Martins Ogunlade, the Programme Manager of NISD signed on behalf of his agency. According to the contract documents seen by our reporter, the donor (Government of Japan)
will make available to the recipient (NISD) the grant of $148, 209 or its local currency equivalent as of the date of disbursement by March 31, 2020.The project initiated by NISD in Ekiti will be implemented in collaboration with Toyota Tsusho Corporation which will provide agricultural equipment from Yanmar Co., Ltd. and Mitsubishi Mahindra Agricultural Machinery Co. Ltd. to the farmers in Ekiti State. Ogunlade promised that the grant would be properly and exclusively used for the purchase of products and services necessary for the execution of the project as stated in the agreement. The NISD chief promised transparency in the disbursement of the funds as the agency would not use products and services purchased with the grant for anything other than the execution of the project, without acquiring prior written approval from the donor. Ogunlade explained that the report would outline achieved results in the light of the original goals and objectives as stated in the application proposal for the project which was expected to include accounting report of the allocation and disbursement of the grant. He pointed out that the provision of the facilities would boost the capacity of rice farmers in the targeted area and ensure that the staple food is made available in commercial quantity. The Commissioner for Agriculture, Mr.
Many Nigerians are aware of the huge gains being savoured by Lagos and Kebbi States with their Investments in the production of LAKE Rice. The Ebonyi state economy has also been strengthened with the remodeling and repackaging of Abakaliki Rice among other brands being promoted by corporate organisations and individuals. To achieve this task, the governor has taken advantage of the veritable window in the partial closure of land borders by the Federal Government which has curbed rice smuggling into the country to a large extent. Local farmers now have opportunities to boost their economies and make gains out of this opportunity. Igbemo Rice may soon be accorded national recognition as the story is about to change with the giant leap being made by a civil society organization, the New Initiative for Social Development (NISD) to attract huge investment from the government of Japan to boost the capacity of local rice farmers in Ekiti State
Olabode, thanked the Japanese Embassy for investing in rice production in Ekiti State. He said Governor Fayemi appreciates the gesture. Olabode said Ekiti needs more support from development partners to boost food security and create more job opportunities for its people. The commissioner further promised that every equipment given to Ekiti State would be judiciously used and also gave assurance on their maintenance and sustainability. The Special Assistant to Governor Fayemi on Civil Society, Mr. Oyeleye, said the state government’s investment drive has been yielding dividends which he noted would benefit the people and the economy. Oyeleye said, “We really appreciate the Japanese government through their Embassy in Nigeria for supporting the civil society in Ekiti to bring development to Ekiti State. “The support given to NISD is to assist the state government in achieving the five-pillar development agenda under agriculture and civil society has contributed to the government achieving this development. “It’s a very great opportunity given to us by Japan for the civil society to contribute towards achieving the five pillars agenda of Mr. Governor and we are looking forward to such partnerships, this should not be a one-off.” A rice farmer in Egbe Ekiti, also in Gbonyin Local Government, Mr. Ola Ogunmodede, heaped praises on the Japanese government and NISD for making the feat possible. Ogunmodede said, “We have formed ourselves into cooperatives to be able to access loans and inputs and the provision of modern farming methods by the Japanese will help us realize our dreams. “The rehabilitation of Egbe Dam by the Ekiti State government which will soon be completed is also a major boost for rice production.” A member of Rice Growers Association in Ekiti State, Mr. Bode Lucas, urged the government of Japan and other development partners collaborating with the Ekiti State government to extend the gesture to rice farmers in other parts of the state. Lucas said, “We appreciate what the government of Japan has done for our colleagues in Gbonyin but we have rice farmers in virtually all the local government areas in Ekiti State. “Investment in rice production is capable of turning Ekiti State into a major rice producer that can rival Kebbi, Ebonyi and other states because what the farmers need here is support in the areas of credit facilities and state-of-the-art equipment.”
T H I S D AY ˾WEDNESDAY FEBRUARY 26, 2020
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POLITICS
Group Pleads With Buhari to Save APC from Extinction
GOVERNANCE IN PHOTOS
Nseobong Okon-Ekong writes that the National Committee for Buhari Support Group which recently transformed into the Council for New Nigeria initiative has expressed fears that the All Progressives Congress may be destroyed after President Muhammadu Buhari’s tenure L-R: Deputy Senate President, Sen. Ovie Omo-Agege, representative of President Muhammadu Buhari, Information Minister, Alhaji Lai Mohammed, Speaker, House of Representatives, Rep. Femi Gbajabiamila and Chairman of the occasion and Kastina State Governor, Aminu Bello Masari during the recent unveiling of Green Chamber Magazine and official Lapel Pin at the National Assembly
L-R: Otunba Biodun Ajiboye, Director of Media and Publicity; Zakari Aliyu Jiya, Director Stakeholders Engagement; Mustapha Habib Ahmed, Director of Administration; Senator Abu Ibrahim, Chairman Board of Trustees, Council for New Nigeria Initiative at a meeting in Presidential Villa with President Muhammadu Buhari
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t is no longer news that All Progressives Congress (APC) is presently facing its litmus test of survival, considering various crises the party is battling and seeming negligence of President Muhammadu Buhari, the party leader, who should ordinarily see to the settlement of those catastrophes. Some party leaders believe that it is only President Buhari that can truly save the party he rode on to realize his lifetime ambition as civilian president of Nigeria from going into oblivion after his current tenure expires in 2023. Doing would also go a long way in helping him to preserve his achievements as president of Nigeria beyond his occupation of the office. There have been many predictions suggesting that the APC, which not a few political pundits believe, is a coming together of strange bed-fellows to seize power, would disintegrate once Buhari who is believed to be the rallying point that holds the party together takes his leave from governance. One of the strongest loyalists of President Muhammadu Buhari, Senator Abu Ibrahim, who led over 500 support groups in the 2019 national elections, recently had an audience with the president with the leadership of his new NGO called, Council for New Nigeria initiative (CNNi) formerly known as National Committee for Buhari Support Group (NCBSG). At this meeting with Buhari at the Presidential Villa, Ibrahim and his group added their voice to the call on the president to play a more assertive role as the leader of the party and save APC from going into oblivion as result of multiple crises. According to Senator Abu Ibrahim, “We urge you, Mr. President to do everything within your power as the leader of the party to save APC from disintegration, because the general belief in the public is that you are the key that holds the party together and the existence of APC after your tenure, largely depends on your action and inaction. We appeal to you to lead, as well as, initiate policies and programmes that would enable the public appreciate the party a lot more, while making it the party of choice when it comes to considering achievements of this administration in view of the 2023 elections.” Incidentally, the APC administration at
the centre has done lots of laudable projects particularly in provision of roads and railway infrastructure across the country. One can see clearly how much effort has been put on the road construction all around Nigeria. In the words of Mr. Babatunde Fashola, Minister of Works and Housing, “The Federal Government has one road project in every state of the federation.” That is a great milestone compared to the previous administration whose yearly budget could not construct one road. This administration increased the budget from N69 billion to close to N300 billion. Part of the giant strides of this administration is the declaration of June 12 as a Public Holiday. The Buhari administration has not only maintained the work force that it inherited, it has employed more people, made mid-term job intervention programmes like N-Power, short term poverty alleviation programmes like TraderMoni, increased workers minimum salary to N30000 per month, paid pension to retired Biafran police, increased allowance of persons serving the nation in the National Youth Service Corps, closed Nigerian land borders and thereby revived the country’s agricultural and textile industries, committed to building the Second Niger Bridge, increased revenue from revenue yielding agencies like the Nigeria Customs Service, the Corporate Affairs Commission and the Joint Admissions and Matriculation Board, reformed the Nigerian Prisons Service. Buhari has repeatedly stated his commitment to lift 100 million Nigerians out of poverty in 10 years, which the group CNNi, applauded greatly during the meeting with the President. To them, the only way the President can pay back the poor people who gave all their votes to him to return him to power against all odds is to initiate measures to achieve the intention of poverty alleviation. “The teeming masses who supported the APC and your Excellency in the last elections, including those that trekked many miles to cast their votes for you and the party expect more from this administration. Particularly, on our campaign promises, and Your Excellency intention to lift 100 million citizens out of poverty,” Ibrahim added. “Achieving that goal,” he said, “will definitely put Mr. President on the positive side of history.”
L-R: Dr. (Mrs.) Bola Adeniji, First National Vice President of Queen’s College Ede/Ibadan Old Girls Association; Chief (Mrs.) Caroline Fabuyi, State Chairman; Ogun State Deputy Governor Engr. Noimot Salako-Oyedele; Dr. (Mrs.) Taiwo Adamson, National President and Mrs. Funlola Ajogbasile, National Public Relations Officer of the college during a courtesy visit to the Deputy Governor in her office at Oke-Mosan Abeokuta
L-R: Mr. Sonny Ibuot, Senior Special Assistant to Governor Udom Emmanuel on Political and Legislative Affairs, Mr. Benedict Ukpong, National Population Commission Commissioner for Akwa Ibom State, Deputy Governor of Akwa Ibom State, Mr. Moses Ekpo, Mrs. Bimbola Salu-Hundeyin, Acting Chairman, National Population Commission and Senator Sa’idu Alkali, Chairman, Senate Committee on Population at the opening of the commission’s recent executive retreat in Uyo, Akwa Ibom State
L-R: Osun State Commissioner for Education, Hon. Folorunso Bamisayemi; Emeritus Professor, Institute of Education, University of Ibadan, Professor Pai Obanya; General Alani Akinrinade (rtd) and Osun State Deputy Governor, Mr. Benedict Alabi, representing the Governor, during a two-day policy review round table summit on some extant policies in Osun education sector, at Regina Suite, Osogbou
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FEATURES
Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08038901925
Keeping Tabs on the War against Boko Haram Michael Olugbode reports on the ongoing war against the Boko Haram terrorist group, the efforts of the frontline soldiers and their commanding officers
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he messages from Abubakar Shekau, who became the leader of Boko Haram after erstwhile leader Mohammed Yusuf was killed in the onslaught of 2009, had always be acidic and scornful, full of boast and almost giving a picture of himself as indestructible and immortal. Some of the words are: “We don't fear any American troops,� “Let even the Pharaoh himself be sent down here! We will deal with him squarely!" At the peak of his annexation of some parts in North-east Nigeria, Shekau had not only rilled out insults on former President Goodluck Jonathan and his successor, Muhammadu Buhari, he had equally threatened Margaret Thatcher, the late British prime minister; the fourth American president, Abraham Lincoln, whom he referred to as infidel, and Queen Elizabeth II. A law unto himself, he has risen from the “announced death� of the military more than twice, announcing himself back to life with further scorn and instructions to fellow jihadists across Nigeria to: “Just pick up your knife, break into homes and kill," he had also ordered killings via many of his acidic videos that: “Slaughter anyone in their sleep you come across." Shekau, believed to be probably in his early 40s, was at a time America's most wanted man in Africa. The $7 million bounty offered at a time by the U.S. State Department is the largest ever offered for a single individual on the continent. The terrorist was equally public enemy number one and putting him in check was one of the major issues of 2015 presidential election in the country after attaining worldwide notoriety when his sect abducted over 200 girls in a secondary school in Chibok. Though many Muslims would not want to be associated with his brand of belief which he claimed was blessed by Allah and have root in Islam, he preaches hate and regard to Nigeria as a failed state that needed to be replaced by Islamic state (caliphate). Who would with such statements as: “We killed the people of Baga. We indeed killed them, as our Lord instructed us in His Book.� He loathed western education and values, alluding to the fact that Nigeria has been rendered irredeemably corrupt, first by colonialism then by English-language education and an overly liberal interpretation of Islam. He believes the answer is to purge the country of these so-called polluting influences. A group led mainly by Shekau is focused in north-eastern Nigeria, the Lake Chad region and has reportedly left more than 20,000 people dead, with some two million displaced. Boko Haram had pledged allegiance to the Islamic State group (ISIS) in March 2015, and in August 2016, the group apparently split, with an ISIS video announcing that Shekau had been replaced by Abu Musab al-Barnawi the son of Boko Haram's founder, Mamman Yusuf. In recent months, the videos of Mallam Shekau had dried from the YouTube and perhaps painting a picture of his finishing prowess and influence. One question that comes to mind is could it be that the military has be able to neutralise or perhaps minimize his power. Although he soon sprung up this year with further threats to a minister, the nation and political officers, the answer to the question may be closer to yes than no. From recent happening in the theatre of war, the military seems to be on the right curve, the introduction of the SupervCamp which removed the military from the trenches and made them a roving force, though with its initial teething problem, seems to be a master card and working wonders. Also the efficiency of the Chief of Army (COAS), Lieutenant General Tukur Buratai, who knows the terrain of the theatre of war, being from Borno State is an added advantage. Since his assumption of office, the COAS has led the Nigerian Army on a decisive battle and epic victory against terrorism. The COAS, spurred by his massive understanding of the complexities of asymmetric war tactics of the Boko Haram terrorist sect, evolved a winning strategy that fosters complimentary roles between the Nigerian military, the paramilitary, Civilian Joint Task Force (CJTF) as well as the civil populace. It must however be noted that the nature of asymmetric warfare particularly counter terrorism and counter insurgency in a complex environment requires dynamism to address the challenges of the fluidity of operation. It has it ups and lows, times for losses and gains.
Major General Bulama Biu at the warfront with his troops
Biu with oďŹƒcers at the warfront One of the major ways to surmounting the challenges of this strange war, according to some military officers who spoke anonymously, is to constantly change leadership of the military in the theatre of war, which allows for introduction of new tactics, approach to logistics and fire support that will bring about the desired operational success. The COAS seems to have dotted the i’s and crossed the t’s by deploying one of his kinsman, Major General Abdulmalik Bulama Biu for the fiercest part of the North-east theatre of war, Borno North who is now the notorious enclaves of the insurgents who hide in islands around the Lake Chad and often come out to launch devastating attacks. Before his deployment, he was initially introduced to the theatre of war as the Commander of the 7 Division with headquarters in Maiduguri, while there, he successfully changed the narrative through examplanary leadership and focused designed to permanently win the war against terrorism in the country. He persistently reiterated at various times to troops to adopt basic military battle tactics of patrols, ambushes and stealth to hunt and neutralise the marauding Boko Haram terrorists. The introduction of such yielded results and changed the tide of the war. Several offensive operations conducted led to the death of hundreds of Boko Haram terrorists within the 7 Division Area of Responsibility and equally led to the freedom of massive people held captive by the insurgents and the surrendering of some members of Boko Haram. Some of the highlights of his leadership were the handing over of freed captives to the IDP camp officials; troops clearing Anadawa, Koshebe, Azaya and surrounding villages of Boko Horam. Some Boko Haram terrorists were ambushed at Zida village where three AK 47 rifles were recovered. In recognition of his feat, the title of Sarkin Yakin Askira Sarkin was given to him by the Emir of Askira based on expliot in his domain
namely Dili, Duhu and Shuwa including Michika and Madgali. Promotion equally came fast as he elevated from brigadier general to major general by the Commander in Chief, President Muhammad Buhari on 10 July 2019. The president had noted that: “The officer(Bulama Biu) was granted promotion for his extra-ordinary feats, courage, exemplary leadership, loyalty, uncommon commitment and valour in the counter-insurgency operation in the NorthEastern part of the country. It was no surprise that when the military authorities on August 15, 2018, announced a set of postings which centred largely around the Boko Haram war in the North-east, he was moved to the fiercest part of the war again Boko Haram. With increasing pressure on the military to end the 10-year insurgency that has cost the nation much hardship in human and asset, the COAS having the understanding of Biu, as a fearless officer focused in achieving result, he was transferred to Sector 3 Operation Lafiya Dole and Sector 3 Multi-National Joint Task Force (MNJTF) to act as commander for both units. It was not by accident that Biu was deployed at the time Boko Haram were attacking all the military formations in the Northern part of Borno State and areas surrounding the Lake Chad and dislodging dozens of military bases, his deployment was to put an end to the insurgent push and through his distinct skills provide leadership that will reinvigorate the troop and encourage their commitment and adaptation to new battle tactics of the Super camp to canalise and neutralise the terrorists. According to the soldiers under him, Biu had led from the front and had sprung many ambush operations by himself without concern for his personal safety. This has resulted in infringing hundreds of casualties on the side of Boko Haram and recovering of 29 guntrucks abandoned by Boko Haram terrorist due to the troops superior firing power in Gubio,
Guzamala, Gajiganna, Monguno, Gajiram among others. This could not but be commended by the Borno Governor, Prof. Babagana Umara, who lauded Biu for repelling all the attacks coordinated by the insurgents in northern Borno. He said: “We must commend the military for repelling almost all the attacks coordinated in Northern Borno. Gubio was attacked more than six times but the military repelled all the attacks. The successes recorded recently in the counter terrorism operations especially in Northern Borno cannot be overemphasised.� Evidently from the foregoing, the tide is changing with the new robust leadership posture of General Biu. The troops are reinvigorated, committed and adapting to the new battle craft tactics to canalise and neutralise the terrorists. Biu, is not alone in the success story in the North-east, kudos must also be given to the Theatre Commander of Operation Lafiya Dole, Maj. Gen. Olusegun Adeniyi, popularly called “The Master Gunner� by adoring subordinate. Adeniyi is perhaps the most respected artillery general as at now. He is a great motivated and lead from the front. He is fearless and so quick to jump into his armour tank to take on the insurgents. His exploits are uncountable and he has definitely silence the boasting of Boko Haram and their leader(s). And the boasting is now his! He recently told the insurgents that the war to escape death and constant bombardment is putting out the white flag. He said: “We would continue to bombard you until you surrender and tell the world you are ready for the roundtable.� He recently told the officers and men under him that: “When I took over the command, I promised to take the fight to the Boko Haram terrorists and I thank you for helping me to take the fight to the criminals. So it is good thing that the enemies are losing.� There is no doubt that successes are being recorded by the military, but should there be doubt, Borno Governor had shown clearly that peace is now in the northern part of the state which was in recent past no go area, he demonstrated this by taking his commissioner and top aides to the area for a retreat. He took commissioners, special advisers and some senior government officials like the secretary to the state government, head of service and chief of staff to Damasak, headquarters of Mobbar LGA in Northern Borno for this important task as he wanted them to see the destruction of the town which was at a time occupied by Boko Haram. The governor had in a press statement by his spokesman, Isa Gusau said: “Damasak, hitherto a major agricultural community in the fringes of the Lake Chad that is less than 10 kilometres away from Diffa in Niger Republic, was occupied and administered by Boko Haram from November, 2014 to 2016 before it was recovered by multinational forces. Damasak had come under repeated attacks including early this year. Thousands of citizens who live there mostly depend on food aids and skeletal businesses. “The wisdom of convening this retreat in Damasak, headquarters of Mobbar LGA in the most troubled northern part of Borno State, is to bring all of us, face to face with the realities of our challenges in Borno. Driving from Maiduguri to this place, we have passed major towns like Gubio and Kareto which have become near ghosts of what they used to be. We have seen villages that are without human occupation. We have seen on the road, soldiers at different points, clearly indicating that all is not normal with Borno. “Damasak, where we are today, used to be one of Borno's agro-economic centres. Damasak used to be a large scale producer and exporter of farm produce like tomatoes, pepper and other vegetables. Thousands of wealthy farmers and transporters, other fellow citizens have been killed, displaced to Niger Republic and forced to become beggars. We are here to remind ourselves that the oath of offices we differently took in May, June, August and September, 2019 is not for luxury. Borno has serious challenges and we have individually sworn with the Holy Qur’an and the Holy Bible to do whatever we can in trying to address the challenges facing Borno State.� Though it is not yet Uhuru, but the military seems to be getting it right with the kind of leadership exhibited in the war against the insurgents, as not only Biu or Adeniyi, but the other commanders are braced up for the task ahead.
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Exploring the Dynamic World of Perfumes Sunday Ehigiator writes that the first edition of the 'Frag Heads Meet Up' forum recently organised by Seinde Signature, provided not only a platform to network, but also exposed fragrance lovers and connoisseurs to the dynamic world of perfumes
Convener, 'Frag Heads Meet Up' and CEO Seinde Signature, Mr. Olufemi Olusola, at the ďŹ rst edition of 'Frag Heads Meet Up', held at Montaigne Place, Palms Shopping Mall, Victoria Island, Lagos
Some of the participants at the meet up
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erfume is a mixture of fragrant essential oils or aroma compounds, fixatives and solvents, used to give the human body, animals, food, objects, and living-spaces an agreeable scent. It is usually in liquid form and used to give a pleasant scent to a person's body. The precise formulae of commercial perfumes are kept secret. Even if they were widely published, they would be dominated by such complex ingredients and odorants that they would be of little use in providing a guide to the general consumer in description of the experience of a scent. Nonetheless, connoisseurs of perfume can become extremely skillful at identifying components and origins of scents in the same manner as wine experts, even as perfumes are compared to clothings which without it, you feel less confidence. However, choosing your perfect perfume is no easy task, don't think it is, and with all the amazing fragrances on the market, it sure is a tough decision to make. When it comes to looking to buying the perfect fragrance, there a few things to know and take into consideration, besides your preference of scent. According to the Brand Manager for Niche at the Montaigne Place, at Palms Shopping Mall, Victoria Island, Lagos, Seyi Ogunsi, fragrances comes in four different types. "What you may not know about fragrance is that there are four different types of 'perfumes' you may choose from, each with a different concentration of scent. There's an eau de toilette, eau de parfum, eau de cologne, and then spray. "The 'Eau De Toilette' are usually a weaker blend in comparison to an 'eau de pafume' or 'spray', the concentration of these are usually between five and 15 per cent. This is ideal for you if you want a great scent without it being too overpowering. Keep in mind this will not last as long as a 'eau de parfum', so if you are looking for something to last all day long, continue on to 'eau de parfum.' " The 'Eau De Parfum' perfumes are the most common that you will come across. The concentration of these are between 15 and 20 per cent, which means the concentration of the scent is going to be stronger and linger for a longer period of time. "An 'Eau de cologne', is very commonly confused with 'eau de toilette' because they share a similar concentration percentage. Aromatically, however, an 'eau de cologne' is weaker, with a concentration of around three to eight per cent. This is perfect for someone looking for a hint of a scent rather than something strong and longer lasting. "Finally, you have sprays, which are the weakest fragrances in their category. The compounds are typically one and three per cent and because of this, you will find these are the most inexpensive. Sprays are refreshing and do not last nearly as long as an 'eau de toilette' or 'eau de parfum'." Speaking on the essence of the meet up, the Convener, 'Frag Heads Meet Up' and CEO Seinde Signature, Mr. Olufemi Olusola said it was a forum where fragrance lovers like himself, and novice could meet up to network, even as they are exposed to the dynamic world of perfumes. "It's a platform whereby, all of them can be exposed to different kind of perfume under one room. They have privilege to check, experience it, and ask questions that
Participants sampling perfumes
Brand Manager for Niche at the Montaigne Place, Seyi Ogunsi would help them in making decisions on what to buy and where to get them. I have been collecting perfumes for over 30 years. As at some point I thought I was losing it. I used to have over a thousand bottles of perfumes yet I am not a dealer. There are a lot of things people waste lavish money on but I don't. I just use my money on perfume. "At some point, I realise that, 95 per cent of everybody buying perfumes would just buy only one or two, and that's it. They don't even know what to buy or how next to get it same fragrance. Hence observing the kind of questions people ask me all the time, such as, what should I buy, what should I wear, or generally asking for my recommendations, or prices, of which I don't sell perfumes, I decided to organise this forum. "And again, you know that the perfume industry isn't regulated in Nigeria, so you
have several fakes product of different brands of perfume out there. But with this awareness, people now get to see and know the original of some of these fake perfumes they have been patronising over the years. "So this awareness is to put them under one roof so they have the chance of testing any perfume they want to test and make their decisions later. It's also aimed at helping the perfume stores. Because now, people now know what they have, and where to get it. "This program Frag Heads Meet Up, means people that are interested in fragrance meeting up to mingle and network while having access to several ranges of fragrances. The intention is to hold it at different stores once in a month. Today, it's we here at Montaigne Place, here at the Palms Shopping Mall, Victoria Island, next month we could be in Abuja. It's all about creating awareness for the people." On the importance of perfumes he said, "Perfume gives you memories of joy, and
that's what life should be all about. You go somewhere and people tells you that you smell nice. It opens doors for you and give you a kind of confidence. "When I wear a nice perfume, I become happier. When I enter some meetings or offices, everyone would keep quiet, while the courageous ones would approach me to know what I am wearing. Perfume gives you attention, and helps you create attention and moments around yourself. When I wear a nice perfume, I become happier. I would enter some offices or meetings and everyone would keep quiet. "I know what they are thinking. And the courageous ones would come and ask me what I am wearing, there is a joy that comes with that. It gives you attention and take you to a state of confidence and changes moods from bad to good by creating an atmosphere of joy around you. And every moment you create with your perfume, you can always remember when you smell the perfume again. "I remember the perfume I wore when I first met my wife 30 years ago, June 16. I still have the perfume I wore back then, and any time I wear it again, it takes both of us to how we started falling in love. Takes us down the memory lane again. There are certain perfumes that attracts the opposite sex. Everybody want something good, you don't want to go close to someone not smelling nice, but when you with someone smelling sweet, you find it hard to leave them. "I spend a lot of money on perfumes, but most of the time, I get them from London our European countries when I travel. Because most of these people don't sell variety brands, they stock the common products such as Gucci, Vassaci, etc. However, there are Nitch perfumes that are far better than most of those popular brands, that people don't really have an idea of. Hence this forum exposed them generally to the world of perfume." Speaking on processes of mixing perfumes, an indigenous Perfumery, and CEO, Zocch Lagos, Blessing Oriakhu noted that the act of mixing perfumes is a very interesting but delicate one. "It’s about making perfumes from the scratch, and I am not talking about perfume oil which a lot of people sell these days. We have the aroma-chemical, the essential oils, the fragrance oils. Sometimes, you have to distill the oil from flowers such as rose habiscust etc. "There are over 500 raw materials in making perfumes. You can get your raw materials from sandal-wood, alga-wood, bay leaf, rose and anything you could think of, it can even come from your body, which we call natural oil. There is even a raw material we call armbagwits; it's very expensive because it's gotten from water-well feaces etc. The raw material are very plenty. When it comes to flower which we call flora family, the materials you get from there is likewise vast. You only need to distill the oil and mix. "A good brand of perfume for instance may have over 16 ingredients in mixing it. And it's your formulation, which is the process of mixing that would determine the smell you get from eventually. And whether the fragrances would be similar or not. Hence you don't only have to note the raw materials you use during perfumery but also pay attention to every details in your formulation process if you must reproduce the same fragrance,� she said.
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WEDNESDAY FEBRUARY 26, 2020 •T H I S D AY
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T H I S D AY ˞ Ͱʹ˜ 2020
BUSINESSWORLD
Group Business Editor Obinna Chima Email obinna.chima@thisdaylive.com 08152447875
Í° ÍŻ Ëœ Í° ÍŽ Í° ÍŽ MONEY MARKET OVERNIGHT OBB
REPO 3.83 3
CALL 1-MONTH 3-MONTH
3 4 6
S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE
505.18% 0.59% 1.41
S & P INDEX 1/4 TO DATE YEAR TO DATE
4.99% 4.99%
EXCHANGE RATE N37/1US DOLLAR* ĚŠ
Quick Takes Shoprite Misses Half-year Forecast
FACTS BEHINDTHE FIGURES
L – R: Head, Primary Markets, Nigerian Stock Exchange (NSE), Mr. Tony Ibeziako; Deputy CEO, UACN Property Development Company (UPDC) Plc, Mrs. Deborah Nicol-Omeruah; Head, Corporate Services Division, NSE, Mr. Bola Adeeko; Chief Executive Officer, UPDC, Mr. Fola Aiyesimoju, and Chief Executive Officer, Mrs. Folakemi Fadahunsi, during the ‘Facts Behind the Right Issue’ presentation at the NSE in Lagos‌recently
FG to Review Duty Waivers, Tax Holidays to Investors Goddy Egene Companies hoping to enjoy tax holidays and import duty waivers without making any tangible investments in the economy should have a rethink as the federal government is making moves to change the fiscal incentives. In a bid to encourage companies to invest in the Nigerian economy, the government gives incentives such as import duty waivers and tax holidays. However, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said going forward, the government would design and implement fiscal incentives that
ECONOMY reward investors after they have invested. Speaking during a visit to the Nigerian Stock Exchange (NSE) in Lagos on Monday, Ahmed said: “Going forward, we are committed to moving away from blunt and expensive fiscal incentives – like Import Duty Waivers or lengthy Tax Holidays – that reward investors merely for their intention to invest. Rather, we will design, and implement targeted and more efficient fiscal incentives that reward investors after they have kept their promises to invest, create jobs, deepen our capital markets, and abide by applicable rules and regulations.�
According to her, government’s fiscal reforms would increasingly complement its trade and monetary policies, noting that the government had made tremendous progress in the effort to create a conducive business environment for all investors. “Our target is to move the Nigeria into the top 100 on the 2020 World Bank’s Doing Business Rankings. It is our expectation that this enabling business environment will spur the industry, innovation and investment that our people, world over, are renowned for and accelerate our industrialisation in the light manufacturing, agroprocessing, petrochemicals and construction sectors, which seek
capital for investment from the NSE,� she said. Meanwhile, the minister said now that tax laws are consistent with the Securities and Exchange Commission (SEC)’s regulations for securities lending transactions, they expect to see increased growth in secondary and tertiary trading in shares on the NSE. “The Finance Act, 2019 provides targeted tax incentives for SEC-regulated securities lending transactions, which are often called “Stock Loans�. A stock loan occurs when a long-term holder (for example, a pension fund or other institutional investor) of a share creates a Continued on page 24
Insurance Sector Records N500bn Premium Ebere Nwoji The insurance industry in 2019 recorded total gross premium of N490,994.99billion. This showed a 15.2 per cent growth from the N426,210.93 billion recorded by the industry in 2018. The National Insurance Commission(NAICOM), in its provisional figures released by the Acting Commissioner for Insurance, Mr. Sunday Thomas, during a retreat for members of the House of Representatives Committee on Insurance and Actuarial Matters in Uyo, Akwa Ibom State, noted that as premium figures in the past three years continues to grow in the industry, quantum of claims paid also continued to grow. According to him, in 2019, the industry, paid a total claim of N 330,369.18 billion, showing a 31
INSURANCE per cent growth in claims payment from a total N 252,190.21 billion claims paid by operators in 2018. According to him, the 2018 figure also depicted 35 per cent growth from a total of N186,443.23 billion claims paid by the industry in 2017. “The above attempts to give clarifications especially to the vexed issue of non-payment of claims by insurance operators. There is no denying the fact that there are indeed some cases of delays in the payment of claims by some operators, the Commission is however addressing such cases as soon as they are brought to our notice. “It is for this reason that the Commission has strengthened its Complaint Bureau Unit in order
to effectively address consumers’ complaints within the shortest possible time,� he added. Thomas, informed the lawmakers that the Commission has deliberately adjusted its strategy to focus more on developmental issues than compliance issues going forward in the overall interest of all stakeholders. According to him, the foundation to ensure successful implementation of its initiatives in this regards was being laid, as he listed some of the initiatives to include the ongoing industry recapitalisation, financial inclusion in the area of Microinsurance and Takaful, development of Agric Index Insurance, Bancassurance and Retiree Life Annuity. He also highlighted implementation of risk-based supervision, implementation of IFRS 17, improving efficiency in the supervisory processes, capacity
building of the Commission and Market workforce, as well as regional integration of insurance supervision as other initiatives. “As you may have been aware, the Commission had in 2019 initiated the process to recapitalise the insurance industry in order to upscale its financial standing to meet up with current economic realities and avoid imminent systemic collapse and solvency crisis in the insurance sector. “This will ensure that the industry becomes more robust in its technical competence and financial base, build confidence, trust and enhance market value. It is further aimed at repositioning the sector for self-actualisation in terms of growth and development. The process is expected to be concluded by 31st December, Continued on page 24
SouthAfricansupermarketchainShopriteHoldingsmissedhalf-year earnings forecasts on Tuesday, hit by currency devaluations in the rest of Africa and store closures in Nigeria in the wake of attacks on foreigners. According to Reuters, the retailer, which owns more than 2,800 outlets across Africa, said diluted headline earnings per share(HEPS)fellby2.6percentto372.4centsinthe26weeksended December 29, from 382.4 cents a year earlier. Analysts polled by ReďŹ nitiv had expected HEPS of 463 cents. HEPS is the most widely watched proďŹ t gauge in South Africa, which strips out certain oneo items. The owner of Checkers and Usave retail chains said it is battling with currency devaluations in Angola, Zambia and Nigeria. Store closures in Nigeria and subsequent reduction in customer count, both during and after the September attacks on foreigners, “resultedinadiďŹƒculthalfwithsalesdecliningby8.1percentinconstant currency termsâ€?, the company added. Last September, Shoprite and MTN closed stores in Nigeria in the face of attacks targeting their premises in retaliation to similar violence in their home country. This saw sales in rand terms in the group’s international operations, comprising 14 African countries, decline by 3.1 per cent. In constant currency terms, sales rose 4.8 per cent.TradingproďŹ tatitsAfricanoperationsplunged62.3percenton the back of a 68 million rand reduction in interest income earned on government bonds and bills. This was mainly due to AngolaTreasury Bills that reached maturity during the reporting period, it added.
Afreximbank, FCI Promote Factoring
TheAfricanExport-ImportBank(Afreximbank),incollaborationwith FCI, will hold a two-day conference in Nairobi to promote the use of factoringtoenhanceaccesstoďŹ nancingforsmallandmedium-sized enterprises (SMEs) in East Africa. The Regional Conference on ‘Factoring and Receivables Finance,’ is scheduled to take place tomorrow and next and is expected to attract about 120 senior executives from factoring companies, banks and non-bank ďŹ nancial institutions, government agencies, consulting ďŹ rms and IT providers. They will be joined by regulators, lawyers and insurers for the sharing of best practices in regulatory and legal regimes, innovation and credit insurance services that can facilitate the growth of factoring in support of SMEs. According to information from Afreximbank and FCI, factoring can provide more ďŹ nancing to SMEs than traditional lending channels if the knowledge and capability are developed and shared. The conference is aimed at creating awareness, building capacity and providing opportunities for networking in the factoring industry. It will feature presentations, panel discussions and success stories and will allow attendees to discuss the current state and challenges of the factoring industry. Discussions will also cover products and market development.
SiemensGamesaIntroducesRenewableEnergy
The59MWwindfarmbuiltbySiemensGamesawillalmostdoublethe country’scurrentinstalledpowergenerationcapacity.Theprojectwill helpreducethecostofelectricity,increaseenergyindependenceand decreasethecountry’sCO2emissions;FirstSiemensGamesaproject withtheparticipationofanAfricaninvestor.Energyaccessratesand reliability in Africa are the lowest in the world and electricity costs are among the highest. In line with its commitment to deliver cleaner, more reliable and aordable energy in Africa, Siemens Gamesa has sealed a contract to build the ďŹ rst renewable energy installation in the Republic of Djibouti. Despite high resource potential in Djibouti and opportunities for cross-border export, there are still 110,000 households in the country without access to power.With a capacity of59MW,thisnewwindfarmwillalmostdoublethecurrentinstalled powergenerationcapacityinthecountry,allofwhichcurrentlycomes from fossil fuel sources. “Access to aordable energy is key to supporting long-term sustainability and economic growth. Industrialization, agricultural improvement or even the expansion of municipal water systems depend on reliable and cost-eective energy access,â€? explained Markus Tacke, CEO of Siemens Gamesa.
“So, the key thing is to broaden the non-oil sector. We need to stimulate sectors like manufacturing, construction and the real estate sectors. These are sectors that would create employment and lead to inclusive growth in the economy� MD/CEO, Cowry Assets Limited
Mr. Johnson Chukwu
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FG TO REVIEW DUTY WAIVERS, TAX HOLIDAYS TO INVESTORS secondary income stream for itself by lending its share, for a short period to brokers who are building portfolios of such shares for their clients. “As shares are fungible, the client can return an equivalent share of the same company, through its broker, to the share’s lender, at the end of the stock loan. To guarantee that the share will be returned at the end of the stock loan, pension funds and long-term institutional investors require brokers, and their clients, to put up cash collateral that is equivalent to the value of the shares lent,� Ahmed said. She explained that at the end of the stock loan, the broker returns the lent share from its client to the pension fund or long-term institutional investor and the lender returns the cash collateral to the client, through its broker. INSURANCE SECTOR RECORDS N500BN PREMIUM 2020,� he added. Thomas, recalled that the insurance industry in 2009, launched the Market Development and Restructuring Initiative (MDRI) project aimed at a comprehensive pursuit of development of the industry as well as ensuring full compliance with extant Laws in respect of compulsory insurances. He noted that the first phase of the project was successfully carried out in all the six geo-political zones in the country and informed that the second phase of the project would soon be unveiled and would mark out clear targets and tasks for all stakeholders in the industry. “The Commission is committed to vigorously pursue the continued implementation of Compulsory Insurances to which collaboration and support from all stakeholders is key towards achieving the desired goal. “I must mention here that the Commission had hitherto been hindered in its various efforts to implement provisions of the current Laws by a number of challenges which are not within its control. We believe that going forward and in view of our renewed collaboration with the National Assembly, relevant security and sister agencies, enforcement of compliance with the laws will become much easier in no distant time�.
Nanono: Agric Mechanisation Way Forward for Nigeria James Emejo in Abuja The Minister of Agriculture and Rural Development, Alhaji Sabo Nanono has emphasised that agricultural mechanisation is the only way forward if the government must develop the sector and create the needed jobs for the teeming youths. He said as crucial as the agro-processing zones are to development, earlier attempts by previous administrations to ensure agro-processing commenced in the country never came to fruition for over a decade. Speaking at the opening of the Special Agro- Industrial Processing Zones (SAPZs) inception workshop recently organised by the African Development Bank (AfDB), he noted that issues bordering on land, water resources, relevant manpower and the level of mechanisation must be addresses before successes of the zones could be guaranteed, adding that, “You may have clusters but nothing to process.� Nanono, also said issues relating to research on good seedlings, and extension workers to monitor progress were crucial to realising the potential of the proposed agro-processing zones. He stressed that mechanisation
remained the cardinal principle to move the country forward in agriculture. The minister said SAPZs remained a major strategy in the economic diversification programme of the current administration and repositioning for sustainable economic growth and development. He said that the plan was to develop the SAPZs within a period of three years across the country in areas where
core economic value can be unleashed for the benefit of the rural population, adding that agricultural mechanisation would be the main vehicle for strategically implementing the SAPZ programme on an intense scale. Essentially, he said SAPZs are to be built around brownfields - areas with developed and existing infrastructure such as rails, roads, power and irrigation
systems, is being developed with the support and collaboration of the AfDB and financiers like International Finance Corporation (IFC) and African Export-Import Bank (Afreximbank). The core implementing agencies including the Nigeria Agricultural Insurance Corporation, the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), the Bank of
Industry, and Bank of Agriculture among others classified into four cluster groups to appraise critical commodities in the value chain and proffer the way forward. Nanono, said based on discussions with the Bank, the federal government as part of the ongoing reforms in the agriculture sector has requested the support of the AfDB in the development of six SAPZs across the country during the next three years.
FACILITYTOUR
L-R: Chief Business Development Officer, Falck Prime Atlantic, Folake Soyannwo; Managing Director/CEO, Ayo Otuyalo; Executive Secretary, ,Nigerian Content Development and Monitoring Board(NCDMB), Engr. Simbi Wabote; Manager, Marketing/ Communications, Prime Atlantic, AderonkeAdebanjo;andBusinessDevelopmentSpecialist,IsiomaOkoh,duringthevisitoftheExecutiveSecretaryNCDMB toFalckPrimeAtlantic training facility in Ogun State... recently ETOPUKUTT
‘SON Establishing Laboratories in Six Geo-political Zones’ Chris Uba The Standards Organisation of Nigeria (SON) is putting structures in place to establish regional laboratories in the six geo-political zones of Nigeria, for testing products and ensuring that standardisation is deepened in the country. The Special Assistant to the Director General, SON, Mr. Bola Fashina, disclosed this in an interview with newsmen in Abuja, recently. According to Fashina, the organisation already has in its 2020 budget, plans to establish laboratories in the six zones to
ensure that made-in-Nigeria products meet required standards for certification for local consumption and export in order to take optimum advantage of the implementation of the African Continental Free Trade Agreement (AfCFTA). He said SON would ensure that products within each region could easily be tested at the regionally laboratories, instead of sending them only to its laboratories in Lagos, Kaduna or Enugu from all other parts of the country. “In the last four to five years, we have had a new laboratory complex consisting
of about 32 laboratories in Ogba Industrial Estate in Lagos up and running. “A lot of the laboratories there have already attained international accreditation to ensure that the results of whatever tests that are carried out there are acceptable globally,’’ he said. Fashina, noted that the establishment of the laboratories was aimed at supporting the government’s Economic Recovery and Growth Plan (ERGP) to ensure that Nigerian products and produce were easily exported without rejection. “Apart from these ones, we have
other laboratories, namely textile and leather laboratory located in Kaduna, civil and mechanical engineering laboratory in Enugu, and other laboratories in our operational headquarters in Lekki, Lagos. The Head, Public Relations, SON, further said a national metrology institute was being constructed to take care of the science of measurement and accuracy in Nigeria and West African to support rapid industrialisation. He explained that the institute would provide the primary source of standards for measurement to
ensure accuracy in length, volume or mass, among others to ensure that manufacturing and trading were done with accuracy. Fashina, said the organisation would also ensure that machines used in manufacturing in the country were calibrated from time to time to ensure accuracy. “It is an ongoing project that was being funded in collaboration with the United Nations Industrial Organisation (UNIDO) because laboratories evolve with technology as taste of people change all over the world and in view of the fact that standards are not static.
Housing Deficit: FG Urged to Partner PFAs Kemi Olaitan
Group Business Editor
ĂŒĂ“Ă˜Ă˜Ă‹ Ă’Ă“Ă—Ă‹ Capital Market Editor
ÙÎÎã Ă‘Ă?Ă˜Ă? Comms/e-Business Editor
Ă—Ă—Ă‹ Ă•Ă™Ă˜Ă”Ă“ Senior Correspondent
Ă‹Ă’Ă?Ă?Ă— Ă•Ă“Ă˜Ă‘ĂŒĂ™Ă–Ă&#x; (Advertising) Correspondents
Ă’Ă“Ă˜Ă?ĂŽĂ&#x; äĂ? (Aviation) ĂœĂ™Ă—Ă™Ă?Ă?Ă–Ă? ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ (Maritime) Ă‹Ă—Ă?Ă? Ă—Ă?ÔÙ (Finance) ĂŒĂ?ĂœĂ? åÙÔÓ (Insurance) Ă’Ă“Ă˜Ă?Ă—Ă? Ă•Ă‹Ă?Ă™Ăœ Ě™(Energy) Reporters
Ă&#x;Ă—Ă? Ă•Ă?Ă‘Ă’Ă? (Money Market) Ă™Ă?Ă‹ Ă–Ă?Ă•Ă’Ă&#x;ÙÑÓĂ? (ICT)
In order to bridge the housing deficits in the country currently estimated to be in the region of 22 million units, experts in the real estate industry have called on the government and players in the sector to consider working with pension funds administrators (PFAs) to fund the sector. The experts also bemoaned situation where many employees who contribute to pension funds live in deplorable conditions. The submissions were part of the recommendations made at the fourth edition of the Real Estate Outlook Conference, held in Lagos.The conference organised by Alphacrux Limited, a real estate company, with the theme: ‘Repositioning Nigeria’s Real Estate Industry for a New Decade’, brought together stakeholders who dwelt
extensively on ways to make homes affordable to Nigerians and how government policies could help make this a reality. They also harped on the need for effective planning strategies, data analytics and research, technology and need for more collaboration among players to unlock the opportunities in the sector. The CEO, Alphacrux Limited, Tobi Adama, while speaking at the event, said infrastructure upgrade could address housing deficit in Nigeria. He said: “If we can look at the area of infrastructure critically in partnership with the government, this challenge can be solved. “The reason why people want to live on the Island is because of proximity to work. If you are not working on the island, you won’t want to be on the island. “We need to look at the use of waterways, helicopters and
trains as means of transportation to various destinations. So if you will marry all these different approaches together, then I think we will get somewhere,� Adama said. He stressed that with Lagos State being over populated, there were still spaces to develop more properties in other states but because it is a commercial hub, one finds this peculiar problem with the state. He suggested that with the rise of private properties especially at the Lekki corridors, infrastructure upgrade should be taken into consideration. “If it takes me 30 minutes on a bus from Epe to Victoria Island and I find a property in Epe is cheaper, a lot of people will move to the outskirt. I think that as we are tackling the housing deficit, we should also be tackling infrastructure deficit,� he said.
Also, the Chief Operating Officer, Northcourt Real Estate, Ayo Ibanu, said Nigeria was underestimating the size and complexity of housing deficit problem as a country, adding that the government needs to establish a framework under which affordable housing components could play. “You can say affordable housing as many times as you want but if there isn’t a place where the developers, investors and end users can plug in, it will just be a pipe dream. “By framework, I mean what are the conditions the government is willing to create to ensure a win-win solution for everyone? “This idea of developers, financiers, investors, professionals coming together to invest their time and money in a third world economy without any form of return is something we should
forget very quickly,� Ibaru said. He suggested that government needs to have strong framework, get the legal process, take it through the senate and get it signed after which the government can now start funding and allocating land. “While we are trying to sort out the land use act, let us look for other alternatives. If we don’t have a house that has funding opportunities and is less than N5million, I am not sure we have started dealing with the affordability issue,� he said. Ibaru, also suggested implementation of social housing, where the government can decide to take large lands usually in areas that are far from the city and build 1,000 to 5,000 units, adding that Nigeria cannot solve 17 million housing deficits with 100 or 300 units.
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Coca Cola, Medshare, Donate Equipment to Lagos Hospital Raheem Akingbolu The Coca Cola’s Safe Birth Initiative campaign, in collaboration with Medshare, has donated medical equipment and consumables worth about $742,000, to the Alimosho General Hospital in Lagos state. The campaign aims at reducing global maternal mortality in line with United Nation’s projection to end the preventable death of newborns and children under five years of age by 2030. The Minister of Health, represented by The Head of Department, Clinical Services, Yaba Federal Neuro-Psychiatric Hospital, Dr Olugbenga Owoeye, appreciated the efforts of Coca-Cola’s partnership in proffering solutions to health issues and called for other corporate organizations to follow suit. He said: “The Coca-Cola Safe Birth Initiative has been at the front runner in the achievement of the third sustainable development goal (of wellbeing and health for all). “This partnership has successfully built capacity across the country’s public health Institutions and today’s event marks the handover
of another batch of medical deliverables to the General Hospital, Lagos�. Speaking during the event, Director, the Business Unit Public Affairs, Communications & Sustainability, Coca-Cola West Africa, Clem Ugorji, said, “the Safe Birth Initiative is a part of the company’s wellbeing program to support the efforts of the government in reducing the alarming numbers of women and newborns who die from birth-related complications every day. “The initiative was born out of the company’s desire to ensure mums and babies come home alive as part of the company’s effort towards building sustainable communities where we live and work.� The current figures for maternal, neonatal and under age five mortality are 576 per 100,000 live births, 37 per 1000 live births and 128 per 1000 live births respectively. It is estimated that Nigeria accounts for 25 per cent of Africa’s neo-natal mortalities and also estimated that about 80 per cent of these deaths are preventable. In this regard, the Office of the Senior Special Assistant
to the President on Sustainable Development Goals (OSSAP-SDGs), made plans in partnering with interested private sector firms and stakeholders in building capacity to tackle lack of healthcare services related deaths, and Coca-Cola whose belief is that, “business is only as sustainable as the communities in which they operate,� has keyed into partnership with the sustainable development goals office. Speaking on behalf of the Governor of Lagos State, Governor Babajide Sanwo – Olu, at the inauguration ceremony, the Secretary to the Lagos State Government, Mrs Folasade Jaji said; “The Lagos State Government commends and thank the management of Coca-Cola Nigeria Limited for these very wonderful initiative aimed at strengthening our capacity to address the issue of maternal and newborn mortality in Nigeria�. On his part, the Medical Director, Alimosho General Hospital, Dr. Madewa Adebajo, said: “We are here today, having received two container loads of medical equipment and consumables.�
Asharami Synergy Unveils New Product Peter Uzoho Asharami Synergy, a Sahara Group Company, has launched the Asha Engine Oil, its new range of lubricants in the Nigerian market. The Asha Engine Oil, according to the company’s Managing Director, Moroti. Adedoyin-Adeyinka, was specifically designed to offer the highest standard of quality, safety, durability, affordability and exceptional performance. “The engine oil we are presenting today is a product of Asharami Synergy’s passion for providing solutions through innovation. We are introducing the gold standard of quality among lubricants and we are delighted that Nigerians can now turn to the Asha
Engine Oil as their preferred engine oil across the nation,� she said. Adedoyin-Adeyinka, added that the affordable Asha engine oil range which includes Asha Crest, Asha Xtra, Asha Trans and Asha HD Premium have undergone extensive quality tests and have been certified for distribution across the country. She further explained that, “in a market contending with quackery, consumers can now move with Asha to safeguard and optimise the performance of their engines. The Asha Engine Oil range can be applied to all manner of engines in generators, light and heavyduty machines, cars, trucks, motorcycles, among others. “We are delighted to give
Nigerians the ultimate choice of engine oil that is pocket friendly and outstanding by all parameters�. The Asha Engine Oil Marketing and Sales Manager, Seun Yussuf, disclosed at the launch of the lubricants that Asharami Synergy was working with top distributors and other stakeholders to ensure seamless access to the engine oil across the nation. “Asha Engine oil is here to give all consumers peace of mind whenever they are looking to buy lubricants for their engines. We urge everyone to move with Asha for ultimate protection of their engines,� he stated. Asharami Synergy’s operations and processes have earned the company several ISO certifications for quality and safety.
Procter & Gamble Partners Kebbi State Raheem Akingbolu Procter & Gamble (P& G) is supporting the Kebbi State Government with over one million Pampers diapers to reduce infant mortality and increase immunisation rate in the state. This initiative will also promote child hygiene in the first 1,000 days of the child. The announcement was made at the Primary Health Center (PHC) Raha in Bunza Local Government during the inauguration of the partnership program Speaking about the partnership, the P&G Africa Director for Government Relations & Public Policy, Temitope Iluyemi said, “At P&G, we deliver our promise to make everyday
life just a little bit better for our consumers. Our brands improve the lives of people in the communities where we live and work. “We believe in being a force for good and a force for growth wherever we operate. As such, our operations touch thousands of lives with economic prosperity and our citizenship efforts in Nigeria touch over 5 million people. We are grateful for this opportunity to lend our support to the promotion of maternal and child health through increased immunization and antenatal care programs in the state.� In his remarks, Kebbi State Governor, Senator Abubakar Atiku Bagudu thanked P & G for the partnership.
He noted that the partnership with the company would intensify his government’s intervention efforts in maternal and child health through the Kebbi State Emergency Maternal and Child Health Intervention Center (SEMCHIC) programs. Commenting further, the first lady of Kebbi state, Dr. Zainab Bagudu added, “Every child has a right to life and to quality health, which is why we are grateful to P&G, for supporting our drive to promote maternal and child health in the state. With their support, nursing mothers who visit the Primary Health Centers (PHCs) across the state to attend antenatal care, deliver or vaccinate their wards will receive free pampers.�
ELEVATING TO THE NEXT LEVEL Marie-Therese Phido
Developing Your Executive Presence
Listen and listen carefully, you need to develop your executive presence if you want to grow in your chosen career and succeed as a professional. Some of you may be asking, “What is Executive Presence�? According to Robin Camarote, “executive presence is the combination of communication skills, technical competencies, perspective, and temperament that instill a sense of confidence in a leader’s viewpoints and decisions. For those seeking leadership positions--especially in the C-suite-executive presence is an essential set of qualities needed to progress, influence others, and get results. Often, it’s getting a strong sense of who’s in charge the moment you walk into a room--even before people introduce themselves and share their titles. Growing up in a large firm with a strong sense of history and culture, I heard a lot about executive presence--what it was, who had it, that every aspiring leader needed to have it. Most importantly, as you got to the middle management and top management, your technical skills became a given. They were taken for granted, the softer more undefinable skills became what you were measured against and one of the most important was executive presence. The question is how do you get people to develop this presence? It can be done via training and coaching. We also encourage that each person also adds their own unique personality and perspective to the equation. The beauty of this approach is that building these skills must start early and is not just reserved for those in titled leadership positions. You can start working on each of them now. In fact, building a strong executive presence might just be the differentiator you need to get noticed and get picked for future opportunities. If you notice, those who get asked to attend meetings or represent their organisations are those with a strong executive presence.
bringing your own sense of style along is key.
Here are essential things to pay attention to when building your own executive presence:
Connect, don’t transact. Maintaining your presence in front of an audience can be daunting, and public speaking can be uncomfortable. Connect with audiences by learning to tell engaging and captivating stories. Be mindful, clear your head to help you think strategically. This will influence you more effectively and improve your stature.
Look the part. Executives in your organization likely dress in a similar level of formality. Whether that’s business attire or business casual. Noticing those trends and mirroring them in your own wardrobe is a starting place. Of course,
In fact, building a strong executive presence might just be the differentiator you need to get noticed and get picked for future opportunities. If you notice, those who get asked to attend meetings or represent their organisations are those with a strong executive presence
Have an opinion. Leaders speak up on issues that matter to them when they have the opportunity. So should you. If you’re concerned about thinking up something relevant or if you like to have time to mull over points before forming an opinion, that is great, but do a little research ahead so you have some constructive and ready-made feedback to contribute. When entering a room, take a moment before flying through the door to grab a seat to notice who is in the room. Pick the seat you want and take it, intentionally. Ask great questions. Being known for asking great questions about how an issue will impact customers, staff, suppliers, partners, etc., will not only help you form opinions about key topics, you will be noticed for having the interests of important stakeholders in mind. Sit up straight with your feet ďŹ rmly on the ground. Focus on projecting your voice to the furthest person in the room without shouting. Speaking too quietly for everyone to hear and being asked to speak up can be embarrassing. It also erodes others’ sense of how confident you feel in your point. Our body language not only impacts what others think, it impacts how confident we feel Avoid qualifying statements such as “I think...â€? “I’m sure you already thought of this but...â€? and “I don’t know if this is where we’re going with this, but... .â€? Use body language. Lean from the inside-out, work from the outside-in by increasing awareness of the messages your body sends.
Be still. Calm is the foundation of presence — a tall order for most executives . To maintain a peaceful center, use breath-awareness exercises to help your anxiety. This will enable you speed up and slow down intentionally without negatively impacting your clarity or relationships and help manage stress. The above are some of the areas you need to focus on and so much more that would take a lot of time to provide in an article. Please be intentional about your growth and career. If you have aspirations of moving on within your organization, starting to build your executive presence now will be a tremendous advantage in the future. Marie-Therese Phido is a Sales & Mareting Strategist and Business Coach Email:mphido@elevato.com.ng Tweeter handle@osat2012 Tel: 08090158156 (text only)
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Intensifying Sustainable Finance Through the efforts of Nigerian Stock Exchange, the federal government and other corporate bodies have been able to raise over N49 billion green bonds to fund climate projects in the country, writes Goddy Egene Climate change related issues have emerged the top five risks in the World Economic Forum’s Global Risks Report, a first in the publication’s 14-year. The report indicated slow rate of mitigation and adaptation to climate change as key concerns for business leaders, non-government organsiations (NGOs), academics and other stakeholders keen on ensuring sustainable use of the planet’s resources. Recent environmental trends such as ravaging bushfires, extremes of temperatures, floods, cyclones and season disruptions have made the effects of climate change even more real in many countries across the world. Reversing the trend, therefore, requires active participation from the public and private sectors, particularly in raising the significant amounts of money needed to fund the mitigation and adaptation measures and in the efficient management of natural resources. And in recognition of this, sustainable finance, broadly encompassing the suite of innovative financial products designed to facilitate and support the financing of green, sustainable and/ or ethical projects, businesses and companies, has gained increasing significance in recent years. Green bonds are fixed income securities that are just like an ordinary bond, but with the caveat that the proceeds be invested in projects that generate environmental benefits. With green bonds, corporate, government sovereign and supranational entities can mobilise resources from domestic and international capital markets for climate change adaptation, renewables and other environment-friendly projects. Globally, the green bond market has witnessed tremendous growth with a total of $181 billion raised from global investors in 2019, compared with the $13 billion raised in 2013. On the demand side, there has been heightened consideration of Environment, Social and Governance (ESG) factors in the demand for profitable investment products. While developed markets have made notable advancements in green bond in terms of trade value and volume, the growth of emerging markets is gaining pace. It has been reported that there are now over 1,963 funds that have integrated ESG mandates currently valued at about $857 billion. Furthermore, issuers in the financial, energy and public sectors account for 76 per cent of total issuances so far. These efforts have been closely guided by global frameworks including the United Nations Sustainable Development Goals (SDGs) and the Paris Climate Agreement. Green Bonds Issuance in Nigeria Looking at the Nigerian market, the Nigerian Stock Exchange (NSE) has demonstrated unwavering commitment to transforming the Nigerian economy into one that is more environmentally and socially sustainable, offering benefits to issuers, investors and the country at large. In 2016, NSE reached out to the Ministry of Environment with a proposal for the issuance of a green bond which was embraced and championed by then Minister of Environment and now Deputy Secretary General of the United Nations, Mrs. Amina Mohammed. This move led to a series of partnerships and innovations that have delivered gradual uptake in this market segment. Among these was the first ever green bonds conference themed: Green Bonds: Investing in Nigeria’s Sustainable Development which held in Lagos and was headlined by the Vice President, Prof. Yemi Osinbajo. Speaking in an interview after the conference, Mohammed had said: “The NSE sowed the seeds of green bonds when they approached me about sustainability principles and the role businesses could play. Nigeria was looking for an instrument that worked with its ‘Intended Nationally Determined Contribution’ and its national strategy to bring jobs and green infrastructure investment and green bonds provided a viable option. “With green bonds, investors can buy into a new product with new credentials which has gone through a vigorous process to ensure
NSE Building transparency and accountability in the use of funds, and is environmental friendly.� Through the collaborative efforts of the NSE, the Ministry of Environment and the Debt Management Office (DMO), the 5-year N10.69 billion sovereign and certified green bond – the first of its kind on the African continent – was issued and listed on the floor of the NSE in 2018 to fund renewable energy projects. With a commitment to a 20 per cent to 30 per cent emission reduction by 2030, this move was in line with the need for long-term capital to fulfil Nigeria’s Nationally Determined Contributions (NDCs) put at N142 billion by 2030 following the ratification of the Paris Climate Agreement by the Federal Government of Nigeria in the same year. Commenting on the listing of the bond on the NSE, President Muhammadu Buhari expressed delight to witness the listing of Nigeria and Africa’s first sovereign green bond on the exchange. “The listing of the green bond represents fulfilment of a key goal of Programme 47 of the Economic Recovery and Growth Plan (ERGP), the issuance of green bond. The federal government through the Ministry of Environment and the Ministry of Finance is proud to be a champion of this initiative�. Buhari commended the NSE for conceptualising the idea of green bond saying: “The NSE reached out to the Ministry of Environment in 2016 with a proposal for the issuance of a green bond. The consultation which emerged created a platform for mutual learning for the Ministry and capital market community. Our collective effort has created a product that is not just novel but premier. There is indeed plenty to celebrate even as we work towards another issuance on the back of the recently signed 2018 budget.� In line with this commitment, the market welcomed a subsequent issuance of a sevenyear, N15 billion sovereign green bond in 2018 which was well received by investors with a subscription level of 220 per cent. Since then, there have been other issuances by corporate bodies that have further increased investible instruments and deepened the Nigerian green bond market. In 2019, NSE welcomed North South Power’s 15-year, N8.5 billion green bond, the first green infrastructure in Nigeria and Access Bank’s five -year, N15 billion green bond, first certified corporate green bond in Africa, bringing the total value of listed green bonds on the exchange to N49.19 billion
($136 million). NSE, LuxSE promotes dual listings To further reinforce NSE’s drive to foster the growth of sustainable finance in Nigeria, the exchange signed a Memorandum of Understanding with the Luxembourg Stock Exchange (LuxSE) last year at the annual meeting of the World Federation of Exchanges in Singapore. The MoU establishes an agreement for the two exchanges to promote cross listing and trading of green bonds in the two countries, as well as collaborate with a view to sharing best practises and organising joint initiatives in their respective markets. The LuxSE operates the Luxembourg Green Exchange (LGX), a platform exclusively dedicated to sustainable finance instruments and home to the first ever green bond to enter the market: The European Investment Bank’s “Climate Awareness Bond�. With more than 160 green bonds listed on its market, LGX now holds a 50 per cent global market share of listed green, social and sustainability bonds. LuxSE works closely with select stock exchanges around the world to support the growth of sustainable finance. Already, Access Bank has made its application to list its green bond on the LGX, a feat made easier by the foresight of the NSE in signing the MoU with LuxSE. If its application to the LuxSE is successful, Access Bank’s green bond will be the first cross listing born out of the partnership between NSE and LuxSE. Going forward Consolidating on its efforts to facilitate the uptake of green bonds in the Nigerian capital market, the NSE recently hosted the delegation from the Ministry of Environment led by the Minister Dr. Mohammad Abubakar in Lagos for a Green Bond Advisory Committee Meeting. Deliberations at the meeting centred on the need for increased collaboration between the public and private sectors to fully harness the potential of Green Bonds to address economic, social and environmental issues in Nigeria. Commenting, Abubakar said: “Ten years ago, there was little or no interest in investing in ‘green.’ Thanks to partnerships with organisations like the NSE, we have made significant progress drawing attention from retail and institutional investors at home and abroad. We are now in the process of issuing the third tranche in the series of Sovereign Green Bonds from the
Ministry of Environment and Debt Management Office which will address projects related to clean energy production, smart agriculture, waste management, amongst others. We are confident that these issuances will lead to a paradigm shift from business as usual and take us closer to achieving a circular economy.â€? The NSE has expressed that it is resolute in its commitment to the development of a sustainable capital market in Nigeria evidenced by its ongoing membership in organisations such as the Sustainable Stock Exchanges Initiative (SSEI). In his statement at the recently held sixth meeting of the Green Bond Advisory Group, the Chief Executive Officer, NSE, Mr. Oscar Onyema, said: “We will continue to maintain a dedicated sustainable market segment which provides issuers, asset managers and investors, access to green, social, sustainable, or ESG-focused securities. “Asides green bonds, this segment will also promote the development of green labelled Fixed Income Products, Indices and Exchange Traded Products (ETFs) that help direct funding of green projects and environmentally aligned issuers as well as the green transition that ensures market resilience to the economic impacts of climate change.â€? The NSE also continues to support capacity development and investor awareness through the NSE X-Academy, a specialised learning centre that offers bespoke capital market and business courses including courses across the Sustainable Finance theme. In its 2020 Training Calendar, the X-Academy has included a course on Green Bond Reporting Framework which is a post-issuance obligation under a GBP aligned issuance framework. Market stakeholders believed that green bonds will continue to play a critical role in the development of the Nigerian economy. And to further enhance the vibrancy of the market, the stakeholders have called on government to encourage the participation of the pension sector currently valued at N9.58 trillion with only 0.14 per cent invested in green bonds. Looking at larger pension funds such as Japan’s Government Pension Investment Fund (GPIF), the world’s largest retirement scheme with ÂĽ159 trillion ($1.5 trillion) in assets, ÂĽ3.5 trillion ($32.2 billion) of its portfolio is allocated across five ESG benchmarks. And the NSE has said it would continue to facilitate these discussions and promote the expansion of sustainable asset class in Nigeria.
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Expert Calls for Increased Investment by Power Investors Stories by Peter Uzoho A petroleum economist and Director, Society of Petroleum Engineers (SPE), African Region, Prof. Omowumi Iledare, has cautioned against the move to introduce a cost-reflective tariff in the electricity sector without the necessary investment in infrastructure to improve power supply and overall performance. The Transmission Company of Nigeria (TCN) had a couple of days ago, reminded Nigerians to be prepared for the cost-reflective tariff regime, saying there was no going back on the policy. However, Iledare, who spoke to THISDAY in an interview, argued that investment in infrastructure would have come first before the electricity distributors could start calling for appropriate pricing of their product and services.
While acknowledging that funding was another major challenge facing the nation’s electricity sector aside structural problem, he noted that the Discos should have understood that they needed to be prepared to surmount such challenge before venturing into the business. He said: “The second thing is funding. You do not go into electricity market with the intention of breaking even. You are going to operate a negative cash flow for significant years before you begin to make profit but majority of the Discos can’t comprehend that. “They look at the electricity problem more as a revenue collection problem than a capacity building problem, and that’s an issue. And if you have a market structure issue then pricing becomes a big deal, and without adequate pricing you cannot sustain the investment
in the industry, and that’s the dilemma. “When you are now asking consumers to pay for what you are going to invest in, it doesn’t follow. You are going to make the investment first before you then determine the price that will justify your investment. So, it’s a Catch 22. The government has had to be bailing them out. “What goes first is investment; it is after you invest that you can supply and sustain your supply that people will now guarantee the tariff. You can’t ask me to pay for a product you have not already prepared to sell, that’s what we are saying. You have not built a school and you are admitting students and asking students to pay school fees so that you can use their fees to build. “First of all you build. It’s just like somebody telling you: we want to build a petrol station in your community
and they are asking you to come and supply money that they are going to use to build the petrol station to him so that he can sell petrol to you. The Discos must first invest, show proof of investment, then you calculate the tariff.� The professor, however, wondered why the unbundling of the power sector which brought the Power Holding Company of Nigeria to an end, was done without guaranteeing optimisation along the value chain. He said all the issues confronting the sector were inter-related, ranging from an improperly defined market structure to disparities in pricing mechanism along the value chain as well as centralisation of the actual product. Iledare, said the government’s ‘bailout’ fund for the Discos was sustainable, adding that instead, the government was only sustaining the owners of the Discos.
“What are they using the bailout for? Is it for infrastructure development? In fact, if you go and study it, perhaps you can correct me, the government has given them more money than they actually pay. Have they not done it three times? So, basically you are not sustaining power development, you are sustaining the owners of Discos or the investors there without them actually doing enough to improve. “I say they cannot even give meters to consumers that the consumers have to pay for the meters, and maybe they can recoup. That’s the fundamental investment and that’s why I have never supported the idea of increasing the tariff, because they must justify why additional tariff is required from consumers,� Iledare argued. He suggested a revisitation of the Nigerian Power Sector Reform Act, saying there was
need to liberalise the sector for optimum result. According to him, “liberalise it, move away from centralisation, look at where the market can pay for itself. Don’t let somebody generate power and put it on the national grid. Only the surplus that a particular market area cannot take should go to the national grid. “You don’t need to first of all put it on the grid and begin to ration it on the basis of either geopolitical zone or market area. That’s the first thing to do. Let decisions be based on economic efficiency before you think of equity. Equitability cannot come before efficiency. Decentralise the power sector. And then, when there is a market that seems not to be able to be viable, then each of the local governments become liable to supply energy to their community.�
IEA Appoints Programme Manager for Africa The International Energy Agency (IEA) has hired Maximilian Jarrett as its first Africa Programme Manager to help expand the agency’s reach and coordinate its work as it deepens its engagement across the continent. Jarrett brings 30 years of experience in the fields of
international economic affairs, media production and strategic communications. He most recently served as the Director-in-Charge of the Geneva-based Africa Progress Panel, which was chaired by the late Kofi Annan, the Nobel Peace Prize laureate and former UN Secretary
General. The IEA has long focused on Africa’s energy sector, including work on the continent’s energy access issues since 2002. This work has since expanded significantly and will continue to do so in the coming years. Last year, Dr Kandeh Yumkella, a former
United Nations UnderSecretary-General, became an advisor to the IEA on Africa and energy access issues. In October, the IEA published Africa Energy Outlook 2019, its most comprehensive and in-depth work to date about the continent, with a particular
emphasis on sub-Saharan Africa. The special report, part of the IEA’s flagship World Energy Outlook, highlighted Africa’s increasing role in global energy affairs and included detailed energy profiles of 11 countries that represent three-quarters of the region’s gross domestic
product and energy demand, including Nigeria, South Africa, Ethiopia, Kenya and Ghana. The IEA is also strengthening its relationships with African energy decision-makers. South Africa and Morocco are part of the IEA family as Association countries.
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Orji: NSIA Intervention in Healthcare Will Curb Medical Tourism The Managing Director/CEO of the Nigeria Sovereign Investment Authority, Mr. Uche Orji, in this Interview on ‘The Morning Show’ on Arise Television, spoke about the management of the fresh $308 million forfeited assets to Nigeria. He also spoke about the interventions of his agency in both the health and agriculture sectors. Nume Ekeghe presents the excerpts:
W
hat do you think are the implications of this new scourge called coronavirus on the investment outlook and what does it mean for an investment authority like yours? It is quite unfortunate that we have to deal with the situation of Coronavirus. All I would say is that in situations like this, three things tend to happen: Firstly, the market tends to overreact, secondly the situation tends to pass and then, there is a buying opportunity. That is really my personal view. I speak to that from experience because in 2003, I was a semi-conductor analyst for JPMorgan based in London and I saw the impact of Severe acute respiratory syndrome (SARS). And again, I have been told by many people that Coronavirus is not as serious as SARS was. But SARS was devastating to the market as well and when it passed, the market recovered. My view with this is that as complicated as it is, and quite frankly it is more complicated given the role that China plays both as a consumer and as well as an integral part of the global supply chain. There is no company today especially in technology that does not manufacture in China or components that come out of China or to which China is not a big demand driver. So, let’s accept that China is a big factor in global economy. And so, when things like this happen and you are shutting down cities and there are all kinds of companies closing down operations and closing shops, it would have an impact. So, in the short term, I expect the markets to feel a negative impact of this but I also see this as a buying opportunity. For the NSIA, we are not making any changes to our portfolio at the moment. In fact, quite frankly, the discussion we are having right now is whether to take advantage of this to add to some of the exposures we already have. Because all of these things shall pass and when it passes, the markets would tend to recover. About the funding of the NSIA by the federal government, you started off with $1 billion from the Obasanjo administration and the current administration of president Buhari upped that, can you tell us how much funding you have received in total as well as the returns on investment. It was reported last year that you had made $250 million, do you have an update on that? Yes, I do. First of all, one of the things that is really remarkable for the NSIA is that through the recession and through the challenges in the economy, the government continued to support and fund the NSIA. You would remember, last November, the National Economic Council approved the sum of $250 million for the NSIA. Those funds haven’t hit our accounts yet; we are expecting them. But there is a commitment to funding the NSIA which we are grateful for especially considering what we are facing today in the economy and country. We ended the year in a solid position for 2019, the audit is being carried out and we would report before the end of April our results for 2019. We continue to pray there would be consistent contribution to the NSIA. In terms of funding that has come from the government, we started with $1 billion, this government has added $500 million, plus $250 we are expecting and that would make it $750 of actual cash contribution. And if you add up all of that with the returns so far, the NSIA in terms of real cash is just slightly above $2 billion. There are also other pockets of funds that we manage, for example, the Presidency Infrastructure Development Fund (PIDF) to which $650 million has been injected prior to now; N90 billion has also been injected and into which the new $308 million that is being repatriated would be injected. The PIDF is designed to address five critical projects - the Lagos-Ibadan express way, the Abuja- Kano highway, the second Niger bridge, the Mambila power plant and the East West road. The $308 million that was announced, credit
Orji to the government, will be channeled to the Lagos-Ibadan expressway, the Abuja- Kano highway and the second Niger Bridge. And there are all sorts of enhanced scrutiny and supervision attached to this given the external funding nature with the agreements struck with the US government. All in all, our returns have been solid and stable. In 2019, we closed well and solid. I am looking forward to 2020 to be a good year and I am actually quite optimistic in a number of things we have done and I also think that one of the things we are going to see in 2020 is a lot of co-investments and partnership funds we are creating to address several areas. So quite frankly, in total the core NSIA funds is slightly over $2 billion and then we have all these other funds like PIDF which with all the funds coming in now, we would expect that PIDF would be over $1 billion funded. And then also we have other funds we are managing for the federal government in other areas and also for the Debt Management Office (DMO). However, we need to be very careful because those are not core funds of the NSIA and are not included in our books. Those are third party funds we manage on behalf of other agencies of government.
You would remember, last November, the National Economic Council approved the sum of $250 million for the NSIA. Those funds haven’t hit our accounts yet; we are expecting them
You mentioned that the new Abacha loot is going to be used for three main infrastructural projects in the country, is there a timeline for completion and also there is also a lack of transparency towards the contracts and the likelihood of corruption. What is the NSIA doing to ensure that there is transparency and accountability and to ensure the project is ďŹ nished within a certain timeframe? The current decision to transfer this fund to these projects should give some level of comfort. The government has been involved in these discussions long before the NSIA was asked to participate in the negotiations. The first time we got involved in this was in June 2018, and since then, there had been a lot of due diligence across the entire three projects. So, consequently for us to come to a level of comfort here the external parties are willing to participate should give you some comfort. Secondly, we have been very transparent on all these projects. Our involvements, how much has been voted into the projects, the size of the projects and the levels of completion. Every quarter and every year, we take the press to go and see the projects. I intend to go and see before the end of this quarter, like I usually do. In terms of timing for completion, we are still looking at 2022 for all three projects. We are looking at February 2022 for the Second Niger Bridge; sometime around July 2022 for Lagos -Ibadan expressway. And if there is anything fundamental that comes up with a delay, we would be transparent with you. I think every week, we receive progress report from contractors which is distributed quite widely and I see some of those pictures trending on the internet. So there has been a lot more transparency and I think there would be a lot more scrutiny and transparency in these projects. And let me also say that with the Abacha funds that would be repatriated to these projects, there is an enhanced level of governance beyond what we have today which I believe is transparent
and world class. That is because the sovereign wealth fund institute has ranked the NSIA top consistently in terms of transparency. We expect to see more civil society involved in supervising this and that is actually part of the agreement. So, there are all sorts of requirement to ensure everything is done transparent and openly. We are expecting these funds sometime in April and all the enhance governance would be in place. The healthcare projects the NSIA is involved in, like the Cancer Center at the Lagos University Teaching Hospital (LUTH), radiology and diagnostics center in Kano and Umuahia, do you have other projects in the pipeline and what is the overall strategy to strengthen the healthcare sector. And if I may add, the cancer center at LUTH is managed by a South African body, why is that and does it mean we don’t have healthcare management professionals in Nigeria to manage it? On the overall strategy, when we decided to invest in healthcare, we considered healthcare as a critical part of social infrastructure and is very important for so many reasons. It is important because it would save us medical tourism which as far back as 2008, was estimated at over $1 billion a year. So, we focused on four areas - cancer, cardiology, renal care and surgery. But cancer was 40 percent of medical tourism as far back as 2008 when we received the first data and it has increased subsequently. So, we decided to attack cancer as one of the key areas. We have 14 projects in our pipeline and what we decided to do was to implement these three first, learn our lessons, stabilise those and make sure our systems work well in our environment by making sure we do not make too many mistakes and then we would get more aggressive. I think we have stabilised the cancer treatment center in Lagos, it is running very well at the moment and CONTINUED ON PAGE 29
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ORJI: NSIA INTERVENTION IN HEALTHCARE WILL CURB MEDICAL TOURISM when I see the data that comes from there, we are currently running at the rate of 100 patients a day. We have expanded it and we expect that by the time all the new equipment we have in place come in, we would be expanding to more than 200 patients a day. The center is running very well, and if you remember, the President commissioned it February 9th last year and it is working well now. We are actually expanding it and what we have completed last month was the training center because one of the things we found was that the knowledge required to operate some of the modern machines we put there was lacking in the country. Nigerians need to be trained and quite frankly that also speaks to why we had to get an operator who is used to running these centers in other countries. Obviously, the idea now is to train Nigerians to the point where we can upscale ourselves. It is not that we don’t have oncologist and physicists, it is just that the history of cancer treatment in Nigeria has been so bad and I know this first hand, having watched people being treated at LUTH before we made this investment. And the reality is that the equipment that were there before were old, broken down and for many years ago. When we made this investment, one of the equipment, the high energy accelerator was the second of such in Africa and there was nobody who could operate it. And so that is why we had to bring outsiders to manage it for us. Obviously, overtime as our people get trained, then we would be able to transfer the management of that. They have also been trained by Nigerians who live abroad and at the moment, there is a team coming from the University of Virginia to conduct training. One of the areas in the US Nigeria has a competitive advantage is medicine and I know that because I lived in New York for six years and you would hardly go to any hospital and you would not see a Nigerian. It is quite remarkable how skilled we are in New York and in other parts of the United States. But the reality is that bringing some of these people home is difficult so at the moment we are just having training missions and then they can go
Orji back. But I think we are getting to the part where we can confidently hand over the management of these facilities. The reality about our strategy is that there are many more things in the pipeline. There are about 10 projects in the pipeline, but we would take it in bits as our capital improves. Outside of healthcare, and cancer treatment, we are looking at something like a center for advanced medicine so we can take on all three major areas of therapy; renal, cardio, cancer and a few other areas our research shows that are important. So, you’ll see our footprint on healthcare would become more aggressive. And finally, on healthcare, we are raising funds where external parties are going to co-invest with us in developing these projects. It would be an exciting area for NSIA in 2020.
You recently signed an agreement with a Russian ďŹ rm for the production of fertilizer in Nigeria, can you give us an update on that and other projects in this sector? On fertilizer and agriculture, these are major areas of investment for the NSIA. On fertilizer, we started in 2017 and we are privileged to have been invited to be the implementing agency on the presidential initiative and it has been a success. We have blended and sold about 20 million bags of fertilizers of 50kg. When the program started, the president asked the question on how we can deliver high quality fertilizer at a reasonable cost to farmers and the only idea was to domesticate the blending. And at that time, there were only 4 blending plants operational. Today in the program, we have 23 blending plants that have been accredited to participate in 2020. We are looking at having
29 blending plants within next year. So, if you think about it, as early as January 2017, only four were operational and they were running at very low utilisation rates and today we have 23 in the program, which is rising to 29 if all the new applicants are qualified. The agreement signed with Eurochem and the agreement signed with Morocco, all continue to subsist and those agreement address different components. There are four components you need to blend fertilizer in different mixes. There is urea which at the moment we buy from Indorama and we are looking forward to a Dangote project coming soon as that would also provide a huge relief and less dependency and make it more affordable. We also have the potash which is what we signed Eurochem, which is the implementing company in Russia. And then, there is phosphate, which we buy from OCP of Morocco and then of course, there is limestone granule which we buy locally in Nigeria. So these are the four components needed and you blend them in different mixes to make fertilizers for different types of products. This year, we expect the presidential fertilizer initiative to significantly increase, we are looking at more than doubling our historical commitment to this program. Secondly, we are also looking to increase the number of products. Up until now, it has been more than one type of blend 20-10-10 which is good for grains, but then we need to make other types of blends which is good for things like cocoa and palms. So, this is going to be quite an interesting program for 2020 and we all need to be grateful to the initiative to be honest. Regarding the wide agricultural strategy, we a have a partnership with a South African company where we created a fund to invest in agriculture projects in Nigeria. The first project we invested in was the integrated maize, soya and feed mill plant in Nasarawa sate. Construction work is ongoing now we are expanding that farm and we would show you when we are done. We tend to not talk too much about these things until we are done and we would be showing you some really remarkable things going on in Nasarawa state.
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Devising Strategies for Improved Insurance Patronage Ebere Nwoji writes on issues surrounding efforts by insurers to expand their market share
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ver the years, one of the biggest worries of insurance industry operators especially the regulator, the National Insurance Commission (NAICOM), is what to do to make more Nigerians patronise insurance services. This is because despite the country’s large population, operators in the insurance industry are yet to reap from the opportunity it offers. But the reason for this is not far-fetched as Nigerians don’t have confidence in insurance operators mainly because they are not sure that after paying premium, the companies would pay their claims when the risk crystalises. Some members of the insuring public who spoke to THISDAY, cited the issue of trust as a factor discouraging them from the sector. The result of this is that among other sub-sectors in the finance services sector, the insurance, contributes the least to the national Gross Domestic Product (GDP) of the economy just as its patronage by the masses is the lowest. For instance, whereas in less than 20 years of its existence, the pension sub-sector currently boasts of over N10 trillion assets, in its over 100 years of existence, insurance sector’s total premium stood at N413.8 billion while the industry’s total assets stands presently at N1.2 trillion. Also, insurance penetration stands at 1.6 per cent while its contributions to the GDP stands at 0.34 percent. Against this backdrop, both insurance operators and their regulator are currently in search of how to expand the frontiers of insurance market by deepening its penetration to improve the contributions of the sector to the national economy. Currently, both the regulator and the insurers are gearing up effort towards ensuring that every Nigerian at least has one insurance policy. But findings showed that the success of this effort was being truncated by the prevailing poor attitude of some insurers towards claims payment especially claims from individuals. Investigation by THISDAY showed that the billions of naira claims insurers publish that they pay are mainly from corporate citizens while those of individuals are often jettisoned. The regulator said to improve on patronage, it has lined up series of programmes especially awareness creation campaigns to ensure that more and more Nigerians not only be aware of insurance but also see the need to patronise insurance services. To this end, the regulator said it will this year transit from compliance-based supervision programme to developmental-based supervision programme, through the implementation of policies that are structured to grow the insurance market and improve the level of patronage of the industry. The Acting Commissioner for Insurance, Mr. Sunday Thomas, at a recent forum in Kano, listed some of the projects lined up by the commission as the unveiling of second phase of the commission’s Market Development and restructuring initiative(MDRI), which he said would mark out clear targets and tasks for all stakeholders in the industry. According to him, vigorous pursuit and implementation of Compulsory Insurances in nooks and crannies of the country would form part of the developmental project. He further said the recapitalisation initiative going on in the industry is still part of it, adding that the essence of the recapitalisation is to ensure that the industry becomes more robust in its technical competence and financial base, building confidence, trust and enhancing market value. Reeling out other developmental programmes in the regulatory kit of the commission, Thomas, said, “the financial inclusion strategy has been central to the federal government developmental plan and the Commission has over the years invested hugely in the development of financial inclusion mechanisms which includes the introduction of Microinsurance and Takaful Insurance products which he said is intended to deepen the penetration of insurance in the country and bring into the fold majority of the populace that are hitherto excluded.� In terms of claims payment, Thomas said the Commission is committed to ensuring financial
soundness and viability of the insurers and the adequate protection of policyholders at all times, adding that these will continue to be part of NAICOM’s regulatory priorities and that it will continue to ensure that genuine claims are promptly paid while also ensuring a reasonable protection of investments of shareholder. A customer of one of the insurance companies, Mrs. Joy Ogbonna, who said two big insurance firms, (names withheld) had in different policies she bought denied her of her claims by coming up with interpretations that were not brought to bear in the policy documents sold to her. She said after attending several meetings with the companies on account of the claims, she decided to use her precious time to do other relevant things than wasting it with insurance workers whose mouths according to her are full of lies, arguments and deceits. She said with that experience, she has turned her back to anything insurance in Nigeria. Another customer, who does not want his name in print said he is currently passing through the same ordeal in the hand of a major player who insured his building. This being the case, industry observers have raised the question of how do the industry operators hope to convince Nigerians to buy insurance when some operators make claims payment to be as difficult as the head of a Carmel passing through the eye of a needle? The Managing Director, NEM Insurance, Mr. Tope Smart, stressed that insurance firms are in business to pay claims and any company that indulges in avoiding claims is not worthy of existence. Also, the Managing Director, Niger Insurance Plc, Mr. Edwin Igbiti, recently told THISDAY that the company had put one of its major assets in Abuja for sale to live up to its claims expectation. On their effort to improve sales, the industry operators, had planned for an industry rebranding project that would publicise the entire industry while the regulator aside contributing financially to the rebranding project, has targeted promotion of micro insurance institutions nationwide. The regulator, released guidelines for the micro insurance institutions just as it has started issuing licenses to the operators. But while these efforts are ongoing,
members of the insuring public and even the regulator are pointing to the fact that the operators need to effect some major changes in their business Modus operandi to achieve their desired success. Indeed, they have challenged the operators to aside developing positive claims payment attitude, to take certain steps especially in the new business year if they must win the level of public patronage they are yearning for. At one of the media retreats organised by the Insurance Industry Consultative Council(IICC), the insurance industry operators were challenged to set their agenda right and clear so that other external actors in the business can have a stand to help them. Speaking on the role of the media in deepening insurance penetration in the country, the Editorial Page Editor, The Nation Newspapers, Sanya Oni, noted that amidst the clamour to deepen insurance penetration in all nooks and crannies of Nigeria, a lot of challenges currently besiege the industry. He said the challenges have raised questions on the level of understanding of Nigerian insurance market environment and their peculiarities by the operators. He also urged the operators to examine themselves and address recurring questions in their business such as relevance of their product offering to consumers’ perception of utility. He said they should also ask themselves, ‘is the problem of non-patronage of the industry that of communication or messaging what is their level of technological usage as well as response to other marketing challenges.� He also advised the operators to focus on keeping the rules of industry and codes of self-regulation which he observed have been set aside. According to him, the most obvious one in this regard is rate cutting. The result is the unhealthy price competition which ensures that less than 50 percent of their expected earning actually comes into the coffers despite the enormous risk borne by the insurance companies. An industry inside source suggesting reasons why some underwriters shirk claims said some insurers in pursuit of premium give rates that they know is not acceptable just
to get the business. According to him, such insurer, from the inception of the business has made up his mind not to pay claims when it comes. He alleged that what they do is that once the risk crystalises, they will tell the adjuster who is to examine the risks to deny the claim even before the adjuster gets to the site of the risks. And since it is the insurer who pays the adjuster, he will have no choice than to comply and write his report against payment of the claims thereby placing the insured at the receiving end. At the insurance consumers’ forum organised by NAICOM in Lagos recently, operators were criticised over their negative attitude towards claims payment. The President of Dangote Group of Companies, Alhaji Aliko Dangote, had blamed the insurers for playing pranks when it comes to claims payment. He had charged them to add value to the business of their major clients through the acquisition of technical knowledge of their clients’ business in order to be in position to educate them on basic safety knowledge and reduce risks occurrence and quantum of claims coming their way. Dangote, who frowned upon the current trend among Nigerian insurers in which he said are only talking about their premium collection from the very beginning of every insurance policy contract, to the end without thinking about how to reduce their clients’s risk exposure, noted that there is a big gap between Nigerian insurers and technical knowledge of their clients’business . He, therefore challenged the insurers to aspire to get adequate knowledge of modern risks they underwrite such as cyber risks as well as the workings of credit insurance. The insurers received similar blame from members of the Association of Airline operators who accused them of collecting premium without paying claims. In response, Thomas, urged insurance operators to focus more on profitable growth rather than top-line or volume growth and that they should place great importance on professional and disciplined underwriting. According to him, a low and uneven development of insurance business increases the level of risk in the economic decisions taken by individuals and firms, hampering, in turn, economic activity.
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Moreno: Nigeria, Others Must Embrace PPP to Harness Economic Opportunities The Vice President and Managing Director for Hewlett-Packard (HP) Incorporated, Africa, Elisabeth Moreno, in this interview calls on African governments to explore collaboration with private investors to enhance the adoption of technology in the continent and address socioeconomic challenges. Omolabake Fasogbon brings the excerpt:
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backbone learns to push more questions that will help to improve the learner’s weaker knowledge areas thereby improving their overall knowledge base and results come test time.
or Years, Africa has been closely watched as the next growth market, but this projection seems not to be manifesting. What do you think is wrong? Today, one cannot contest the fact that technology is pivotal to growth. Many studies have proven beyond measures that the adoption of new technologies can result in greater productivity, greater competitiveness and profitability. This will in turn facilitate the creation of more and better jobs. Lately, a lot of developments are turning up in Africa, making the continent to scale up with global technology. For example, Tech hubs are springing up in countries like Ethiopia, Ghana, Kenya, Morocco, Nigeria, Rwanda, Somalia, South Africa, and Tunisia among others. In fact, the latest collaborative effort by Briter Bridges and the GSMA Ecosystem Accelerator programme, identifies 618 active tech hubs across the continent, a 40 percent increase over the previous year. However, the continent’s general lack of infrastructure, capabilities, skills and awareness prove to be barriers to digitalisation and growth. As a matter of fact, the World Bank believes that Africa was crucial to the future of global development, hence plans to invest $25 billion in Africa’s digital transformation over the next decade. Present day realities have only justified the essence of innovative solutions to lift Africans out of poverty and poor living conditions amidst other socio-economic problems. What then do you think is the way out? The result of a stronger agricultural, business, tourism, education and manufacturing sector is a reduction in poverty and economic growth in the whole continent. To achieve this, companies are going to need to partner with the various governments to help drive change and prepare citizens for a technologically advanced era. How can technology translate into profitability for Africa continent? A stronger synergy between private firms and governments would enhance technology returns. For instance, in the area of education, partnership can help to boost digital literacy from school-going age to those already in the workforce. ICT skills can be integrated into business management training and school curriculums. As such, adoption of automation and other technologies are seen as less of a threat and challenge. In the area of agriculture, new technologies have the potential to enable farmers to increase yields, select new crops, conserve natural resources, and better understand and adapt to climate change. By ensuring that new technologies are more easily accessible for start-ups and entrepreneurs, mentoring them, more farmers will be able to play an increasing role in boosting the local and national economies. How does HP intend to support growth in the continent with technology? As one who has toured the nooks and crannies of Africa, I have come to realise that there are tremendous optimism and talented people who are committed to growth in the continent. This is really a major strength that we can work with. As a responsible company, our vision is to help improve access to quality education for all, create jobs and improve the ease of doing business for entrepreneurs using future technologies. There are lot that need to happen for Africa to realise this vision.
Moreno Education has to be strengthened and balanced for male, female and the marginalised. In Africa, 43 per cent of the population is currently aged below 15, the highest percentage in the world. By 2035, the number of sub-Saharan Africans reaching working age of 15-64 will exceed the rest of the world combined, adding 12 million to the labour force every year (World Bank: Human Capital Project, 2018). This is an eye-opening statistic, particularly when you learn that 97.54 million children of school going age are in fact not in school. More concerning is that four million sub-Saharan girls will never attend school compared to two million boys. Given that Africa is the
The result of a stronger agricultural, business, tourism, education and manufacturing sector is a reduction in poverty and economic growth in the whole continent
region with the highest rate of return on education — each year of schooling raises learning by 11 per cent for males and 14 per cent for females — those are definitely statistics we need to change. For underserved and marginalised groups, people with disabilities, refugees, and those not in school, technology can be a great equaliser, helping to bridge the digital divide and connect people and communities to greater learning opportunities. The problem is that a lack of basic technological infrastructure puts developing countries at risk of experiencing new technological, economic and social divides. If public-private partnerships can be embraced to address this issue, then technologies such as Artificial Intelligence (AI) can be used to improve the standard of education across Africa. Our vision in HP is to empower teachers, improve learning outcomes and help to equip learners across the continent with the business and technology skills they need to succeed. Already, AI assistants are helping teachers with more administrative tasks. It is enabling them to free up time to focus on helping individual learners who need more guidance. AI is assisting learners to improve their weak points by identifying stronger and weaker skillsets when they complete online exercises. The AI
Beyond education, which other areas of the economy are you putting your expertise to play to drive growth? We acknowledge the place of entrepreneurship in economy buoyancy, hence, our investment in this sector. Being an entrepreneur isn’t easy, but new technologies are making daily life for entrepreneurs easier, and are presenting new and exciting opportunities. It is more important than ever to produce school-leavers and graduates who have greater STEM skills and the capability to understand how to navigate and operate successfully in the new world of work. Across Africa, entrepreneurs are embracing technology to answer some of the continent’s most pressing needs, such as access to lifesaving medical care, improving financial inclusion - particularly in rural areas and improving standards of education. Many women who become entrepreneurs out of economic necessity do not intend or have the skills to build large and successful companies. Their decision to start a business instead of seeking wage work is influenced by important constraints such as differences in skills, capital, networks, time and family formation, occupational opportunities, and safety. To uplift young female entrepreneurs, we need to ensure that they have access to a good STEM-based education and the tools necessary to capture opportunities. I am proud to be part of an organisation that is actively working towards uplifting women across the continent. The agreement that HP Inc and UN Women signed in 2019 during the UN General Assembly, will help to advance education, entrepreneurship and digital learning for women and girls in five priority countries viz Senegal, South Africa, Nigeria, Democratic Republic of the Congo, and Morocco. HP firmly believes we have a role to play, and have already entered into a number of partnerships with organisations such as Girl Rising, whose aim is to ensure that girls around the world are educated and empowered so they can reach their full potential. In South Africa, we collaborated with institutions such as the Ekurhuleni West TVET College in Katlehong, and its Centre of Entrepreneurship Rapid Incubator. We also opened an HP LIFE Centre — a more formal, technology-enabled hub to facilitate learning, collaboration and entrepreneurship in a physical, face-to-face setting. We also expanded into Africa with HP LIFE opening in Nigeria, where more than 5,000 new users joined the program in 2018. I see us partnering with more African schools who would receive HP Learning Studios, to support thousands of students across the Continent. Youth unemployment is a major economy loss for Africa. What role is HP playing to address this challenge ? The digital era is constantly requiring new skill sets and opening new roles that hadn’t been thought of 10 or 20 years ago. This underscores the need to prepare the youths as well as upskill existing workforce to increase the positive impact of technology in Africa.HP is really playing into this to drive needed change. I am hugely proud to work for a company that shares the same values as me, and I am convinced, more than ever, that HP can make a difference in peoples’ lives across the continent.
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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: Minister of State for Budget and National Planning and Nigeria’s State Actors’ Co-Chair of Open Government Patrnership (OGP), Prince Clem Ikanade Agba and Nigerian Ambassador to Germany, Yusuf Maitama Tuggar, during a courtesy visit by the Minister of State for Budget and National Planning to the Nigerian Embassy in Berlin...recently
L-R: Chief of the Naval Sta, Vice Admiral Ibok-Ete Ibas and Mr Ian Appleby inspecting a gunboat under construction at SEWA Nigeria Limited, Port Harcourt ...recently
L-R: Sarkin Ruwan-Hausa, President and Founder, Belema Oils, Tein T. S. Jack-Rich; Ooni of Ife, Oba Adeyeye Enitan Ogunwusi and President Muhammadu Buhari, during the closing ceremony of National Conference of repositioning the Muslim family for National Development, in Abuja‌‌recently
L-R: Special Adviser to the Governor on Drainage and Water Resources, Hon. Joe Igbokwe; Permanent Secretary, OďŹƒce of Drainage Service, Ministry of the Environment and Water Resources, Mr. Olalekan Shodeinde and Project Manager, Northridge Engineering Limited, Mr. Shadi Dhaini, during the Inspection of the on-going dredging of the canals and drainage channel, at Babs Animashaun, Coker-Aguda LCDA, Lagos...recently
L-R: Unit Head, Migrant Protection Pass, International Organisation for Migration (IOM), Saskia Kok; Chief of Mission, Franz Celestin; Edo State Governor, Mr. Godwin Obaseki; Edo State Chairman, Taskforce Against Human TraďŹƒcking and Commissioner for Justice, Prof. Yinka Omorogbe; Programme Manager, Abraham Tamrat and Managing Director, EdoJobs Agency, Mrs. Ukinebo Dare, during a courtesy visit by the IOM executives to the governor at the Government House, Benin City...recently
L-R: Chief Executive OďŹƒcer, AFEX Commodities Exchange, Mr. Ayodeji Balogun; Advisory Partner and Chief Economist, PwC West Africa, Dr. Andrew S. Nevin and Managing Director, Old Mutual General Insurance Company, Mr. Olusegun Omosehin, during the Ecobank Agribusiness Summit, held in Lagos...recently
L R: President, Shipowners Association of Nigeria (SOAN), Dr. Mkgeorge Onyung; Deputy Chairman, Senate committee on Trade & Investment, Sen. Francis Fadahunsi; deputy Controller of Custom, Aisha Idris and Acting Chief Trade Negotiator, Nigeria OďŹƒce for Trade Negotiation, Liman Victor Liman, during a joint meeting of the public and private sectors Consultative Forum on Trade and Services in Abuja..recently PHOTO: KINGSLEY ADEBOYE
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L-R: Njideka Aknu; Mr. Jeremiah Adie; Sylvester Iyere; President of Rotary Club Abuja, Mr. Eric Ojeh; Constance Okeke; Samuel Adeboyo; and James Ugbeda; during the peace sensitization and awareness walk to Stop the Violence in Abuja....recently PHOTO: KINGSLEY ADEBOYE
L-R: Project promoters, Omo Wildlife Sanctuary Eco-Tourism Project plan, Messr Fillip Van Trier; Otunba Alaba Shonibare and Ogun State Governor, Prince Dapo Abiodun during the discussion on Omo Wildlife Sanctuary Eco-Tourism Project plan in Abeokuta...recently
L-R: Coordinator of the Non-Communicable Diseases (NCDs) Primary Prevention of the World Health Organisation, Dr. Jean-Marie Dangou; Special Assistant to the President, OďŹƒce of the Minister, Mr. Segun Adeyemi and Minister of Information and Culture, Alhaji Lai Mohammed, during the visit of United Nations Programming Mission on NCDs andTuberculosis to the Minister in Abuja...recently
L-R: Assistant Pastor, Patience Kasali; Keynote Speaker, Pastor (Mrs) Bola Kpandei; host, Pastor Fadeke Olugbemi; another guest speaker, Pastor Temitope Emovon; and Pastor Bolade AďŹ laka all of Redeemed Christian Church of God (RCCG) at the 2020 Women in Ministry Conference held in Lagos...recently
L-R: Permanent Secretary, Lagos State Ministry of Wealth Creation and Employment Mrs. Boladele-Dapo Thomas; Chairman, House Committee on Wealth Creation and Employment, Lagos State House of Assembly (LAHA), Hon. Jude Idimogu;Commissioner, Ministry of Wealth Creation and Employment/representative Lagos State Governor, Hon. Yetunde Arobieke; Chairman, Board of Trustees, Lagos State Employment Trust Fund (LSETF), Mrs. Ifueko Omoigui Okauru and Acting Executive Secretary, LSETF, Mrs. Teju Abisoye, during the LSETF Employment Summit in Lagos...recently
L-R: Yobe State Commissioner for Local Government and Chieftaincy Aairs, Alhaji Yerima Lawan Mahmoud and his Information and Culture counterpart, Mr. Abdullahi Bego, displaying an information campaign yer against Lassa Fever during a strategy meeting with health oďŹƒcials and frontline health and information personnel from the 17 local government areas in Damaturu...recently
L-R: Safe Support Lawyer for Assistance, France, Mr. Chigozie Ikedimma; Head of OďŹƒce, Avocate Sans Frontiers France, Mrs. Angela Uwandu; Chairman, Nigeria Union of Journalists, Lagos State Council, Dr. Qasim Akinreti and Chairperson, Federation of International Women Lawyers, Mrs. Philomena Nnaji, at a training for Medias on Human Rights, in Lagos‌recently
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EDUCATION Pomp, Ceremony at PAMO’s Founders’ Day The first Founders’ Day and third matriculation ceremonies held by PAMO University of Medical Sciences penultimate week were an opportunity to showcase the impact the institution has made in less than three years of its existence, Davidson Iriekpen writes
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AMO University of Medical Sciences, Port Harcourt penultimate week attracted heavyweights and who’s who to its first Founders’ Day and third matriculation ceremony in the garden city. Among the dignitaries who graced the occasion were the Governors of Oyo State, Seyi Makinde; Bauchi State, Senator Bala Mohammed; Sokoto State, Hon. Aminu Tambuwal; and Adamawa, Aminu Fintiri. Others were the former Head of State, General Abdulsalami Abubakar (rtd), who is Chancellor and Chairman, Board of Trustees of the institution; Minister of Labour and Employment, Dr. Chris Ngige, and the host, Rivers State Governor, Nyesom Wike, among others. All the dignitaries took turn to commend the founder of the university, Dr. Peter Odili for the vision to establish the institution, which today has become an important ivory tower that the country has been waiting for to bridge the gap in medical manpower for the country. For instance, Governor Mohammed, who spoke on behalf of others, hailed Odili for his foresight in initiating the university. He said the institution would go a along way in providing the required manpower in the country’s health sector. According to the governor, “I am highly delighted to be here. The establishment of a university like this is a welcome development and can assist in the provision of qualitative healthcare services to Nigerians. I commend Dr. Peter Odili for his humanitarian services in addition to the establishment of the university.� On his part, Wike said because PAMO University is the first private university in the state, it deserves the support of every son and daughter of the state. He lauded the institution for creating opportunities for Rivers children and other Nigerians to have access to medical education. The governor announced that the state government would support the construction of two hostels in the institution. “The university requires the support of every person. If this university was not established, those of them who are lucky to study medicine and other related courses would have found it difficult. It is good that this university has been able to create access for our children to study medicine. For us as a government, we will not look back. We will continue to support this university,� he said. The Chancellor of PAMO University of Medical Sciences, General Abdulsalami Abubakar (rtd) said the university as the first dedicated to medical education, is growing rapidly. He thanked Wike for his contributions to the growth of the institution through his unwavering support. He also lauded the National Universities Commission (NUC) for the positive role it has played in developing universities in the country. The Minister of Labour and Employment, Dr. Chris Ngige endowed a prize for anatomy, biochemistry and physiology. He said the best student in the mentioned areas would be rewarded handsomely. He urged students of the university to emulate the founder, who has been hard working and committed to serving humanity. On his part, the Pro-Chancellor of the institution, Dr. Odili thanked Wike for the pomp and ceremony he adds to all events of the institution. He disclosed that all the students sponsored by the Rivers State Government at the university are up to date in their payment of fees. He stated that establishing a private university is a service to the society, because profits start after more than 10 years.
Members of the university management team during a procession PUMS was conceived and given birth to in order to bridge the gap of inadequate manpower in the medical and healthcare sector. It is well-equipped with modern facilities found in most developed countries. For many who know the institution, one of its greatest strengths is that its founder is not only a renowned medical doctor, but has, since the 1980s, established the PAMO Specialist Hospital, which means that from takeoff, the institution has an already-made teaching hospital to aid students right from 100 level in order to have a full medical knowledge and experience. This is unlike other universities whose students start hospital experience from 400 level. The university has courses such as anatomy, biochemistry, human nutrition and dietetics, pharmacology, physiology, and nursing, medical laboratory science in the Faculty of Basic Medical Sciences, as well as Bachelor of Medicine and Surgery (MBBS) in the Faculty of Clinical Sciences. Sited in a serene atmosphere in a large expanse of land off Aba Road in Port Harcourt, PUMS boasts of tasteful facilities with full residency for students. Because of the crises that have characterised public and most private universities in the country, PUMS in order to ensure that it achieves its core mandate of producing quality medical doctors and healthcare personnel in the country, has set the rules for incoming students. These rules, the management has promised, won’t be compromised. To maintain high academic record, the university has kept its admission strictly on merit and has placed all students on residential accommodation on campus. For students to concentrate on their studies and not unnecessarily show off their background, they are not allowed to use cars on campus. The school management said there is zero tolerance for cultism and related vices for both staff and students, adding that students are not allowed to expose their bodies indecently; as there are dress codes for lectures and official functions for both students and staff of the institution. For those who were there to witness the event, PUMS could not have come
at a better time than now when medical education in the country is facing the challenges of access, quality and relevance. This is compounded by the inadequate number of medical and healthcare professionals practicing in the country. Presently, medical schools in the country cannot absorb the number of qualified candidates who are interested in pursuing courses in the medical field. Universities in Nigeria, whether private or public offering medicine are distracted by other courses since they are not specialist institutions. This is where PUMS stands out. According to statistics, Nigeria has only 35 per cent of her requirement for medical practitioners. This gloomy picture is worsened by the fact that less than five per cent of qualified applicants can be admitted into degree programmes in medical and health sciences in all universities every year in the country on account of limited spaces. In a sector and industry which is prone to stories of what has gone wrong and what is not working, PUMS is gradually changing the narrative. At the matriculation ceremony, the Vice- Chancellor of the university, Prof. Michael Diejomaoh, used the occasion to showcase the institution’s uniqueness. He reminded the students to take their studies seriously, adding that it was because the school found them worthy in character that they were given admission. He advised the students to be worthy ambassadors of the university and Nigeria. Diejomaoh, a world-class obstetrician and gynaecologist, tasked the students on the need not to flout the rules and regulations of the institution, telling them that at the end of their studies, they won’t regret attending the university as they would stand out in their chosen professions. The Chancellor, General Abubakar, described the institution as a world class university dedicated to building healthcare workers, including medical doctors and nurses in the country. He added that going by the impact and steady progress the university has made in just three years, it could not have come at a better time than now to fill the gap
left by most institutions in the country. The former Head of State reiterated that PUMS would strive to address challenges associated with medical practice and education in order to achieve global excellence in terms of teaching, research and community services. He added that the university will produce graduates in different fields of medicine who are not only competent in their professions, but also worthy in character and learning. He advised the students to be good ambassadors of the school, adding that he has no doubt that based on the training they would receive, they would all stand out in the society. Odili also stated that in less than three years of establishing the institution, Nigerians are now choosing the school ahead of the quota set by the university. He added that the school has, in a short time, become a choice of study for many Nigerians filling their Joint Admissions and Matriculation Board (JAMB) forms. The renowned medical doctor noted that the level of discipline and quality of learning in PUMS is unrivaled, as its projection remains to become one of the best universities in the country. He said: “Those who are filling PAMO University in their JAMB forms have surpassed the space we have for students. This shows that many students want to come to the school for their academic pursuit. Our plan is to ensure that graduates from this institution are exceptional in the course of offering healthcare services to Nigerians. And for that to happen, they must be certified worthy in character and learning, which is what we are pursuing. “Though the university has put in place stringent conditions of learning, they would help in guiding you to success. Take those pains now and bear, at the end of the day, you will forever be grateful to the university you attended Nigerians. “In the hospital setting, the most important person is the patient. You must therefore treat your patients like your bosses without which you have no work. For that to happen, your character must be impeccable, and that is what PUMS is about,� he added.
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EDUCATION
Eminentville School Raises Cancer Awareness among Students with Visit to Affected Children Ernest Chinwo in Port Harcourt Eminentville School has said it is raising awareness about the devastating effects of cancer not only to make the students aware of the disease and how to prevent it, but also to create empathy among them. The Principal of the Port Harcourt-based school, Mr. Emmanuel Okorie said this
when he led the students and staff on a visit to the Cancer Specialist Unit in the Paediatric Department of the University of Port Harcourt Teaching Hospital. He said the visit was also part of the resolve of the school management to continue to help the indigent ones as part of its corporate social responsibility. He restated the commitment
Don Faults MOUAU Sexual Harassment Story The Provost of the Abia State College of Education (Technical), Arochukwu, Dr. Philip Nto has faulted a story titled ‘Disquiet at MOUAU, as Female Lecturers Accuses VC of Sexual Harrasment’, published on January 22, 2020. He claimed that he was not consulted before the publication of the article. He spoke through his lawyer, Mr. K.I Oleh of Sanctum Chambers in a statement made available to THISDAY. According to the lawyer, “our client considers these reproduced portions libelous. The libelous and utmost had faith exhibited in the writeup, succeded in dragging in our client to the smear campaign against the vice-chancellor, our client became the issue.� He said he considered the article libelous because their client was given up as supporting evil as the crony of the vice-chancellor, adding that the write-up was slanted
to favour Dr. Favour Mbah to the detriment of the provost, who was not interviewed to say his own part of the story. “Our client was given out as the writer of the article against Patricia Mbah when our client merely forwarded the write-ups to Mbah against for her awareness of what was trending, your reporter would have known the true facts.� He said there is nothing in the write-up that supports that any effort was made by the reporter to hear the client’s side of the story, especially that he didn’t write the alleged libelous matter, but rather forwarded same to Patricia Mbah as colleague for her information and awareness. “Our client has been demeaned and his reputation called into question. He has been portrayed as a supporter of evil with intent to benefit there from,� the statement read.
Education, a Driving Force of our Devt Agenda, Says Oyetola Yinka Kolawole in Osogbo Education has been described as the driving force behind the country’s economic development, while children are the strength of sustainable development efforts. Osun State Governor, Adeboyega Oyetola made this known at the sod turning ceremony of the West African Examinations Council (WAEC’s) permanent office complex, examination and CBT centre in Osogbo. He said since the beginning of his adminstration, efforts have commenced on the revitalisation of the education sector with renovation of school buildings, provision of instructional materials to students and training and re training of teachers throughout the state to make Osun students compete with their peers globally. He added that the state is enthusted by developments and will support all efforts by WAEC to preseve the integrity of school certificate examination and that the facilities will enhance the efficiency of staff of the examination board in the state, ease examination administration and tackle examination misconduct significantly. The governor also stressed that the state has zero
tolerance for examination misconduct and is ready to work with WAEC to flush the monster out of the country’s our education system because the best way to build the leaders of tomorrow and achieve sustainable development is to improve on the integrity and sanctity of examinations. Also speaking, the Commissioner for Education, Folorunso Oladoyin said the government is committed to honesty, transparency and excellence as the Oyetola adminstration is happy to be identified with WAEC. He said the current adminstration is delighted that the edifice includes a Computer Based test centre because it is coming at a time when a significant part of the efforts of the ministry of education is improving on the digital literacy of learners. Also speaking, the Branch Controller of WAEC, Dr. Busari said the idea of the project was first concieved by the management of the National Office, WAEC, under the leadership of Mr. Olutise Adenipekun in 2019 after which the Ministries of Education and Lands were reached out to. Busari said three sites were proposed for the project after which the best was chosen, which is Ataoja High School.
of the school to high academic standards that Eminentville School is known for, as well as high moral upbringing and empathy for others. “This visit is coming after similar visits to Cheshire Home and Remand Centre in Port Harcourt. We are not only teaching our students about diseases and how to curtail them, but we are also teaching them to show empathy to the sick ones in the society. This
way we learn how to care for one another and build a better society.� The school donated cash and gift items to children battling with cancer. Conducting the students, who said the visit was also in commemoration of the last World Cancer Day, round the ward the head of the Cancer Specialist Unit, Prof. Nwadiuto Akani, explained that cancer is a major problem to both
the young and old but can be prevented with lifestyle adjustments and regular medical check-ups. She commended students and management of the school for the visit and asked them not to relent as they extend love to the needy. Eminentville School students who were properly educated by medical staff of the hospital, admitted at the end of the visit that they became better
informed after seeing the situation of children with cancer. They appreciated the need for empathy and support to victims the world over. Maximiliano Amaewhule and Kayla Ikpendu, level 9 students, who were part of the delegation, called on well-meaning Nigerians to constantly reach out to cancer patients because they need care, love and support of everyone to overcome their challenge.
L-R: First position, Adeyemi Bukunmi; second position, Ogunkoya Temitope, both of Ferscoat College, Lagos; and third position, Adeniyi Tolu of Multi Grace College, Lagos, all winners at the Chess and Scrabble Competition, organised for secondary schools by Multi Grace College, Lagos... recently
UI Don Composes Song to Tackle Mathematical Problems Kemi Olaitan in Ibadan A lecturer in the Department of Early Childhood Education, University of Ibadan, Dr. Akindele Salami, has composed a hip-hop song to help put a stop to the dismal performance of students in mathematics. Salami, whose primary interest is in early childhood education, said the hip-hop song is aimed at enhancing knowledge of pupils at the primary school foundational level, stating that the failure of mathematics is attributable to poor childhood learning friendly tool to enable students grasp the right formula to use in solving mathematical questions. He said a person who can
solve simple mathematics problems can quickly reflect on how to solve societal problems, adding that governments in the country should embrace more child-friendly strategies that would make dreaded subjects simple. Salami while speaking with journalists in Ibadan, said the invention which is tagged MATMUSIC comprises tracks of songs with mathematics ideas, principles and procedures as the messages. The results of WAEC published by the National Bureau of Statistics covering 2016 and 2018 indicated that candidates with five credits and above in Mathematics and English Language in the South-west
zone were less than 40 per cent. According to him, “Learning mathematics has always been a serious challenge for many learners from primary school level across the whole world. One of the reasons for this is the nature of the subject which is rule-governed and abstract. To do well in mathematics, one has to remember a lot of rules and procedures. Past efforts to make the subject learning-friendly focused largely on preparation of effective teachers and methods of teaching it. Songs have also been used as instructional strategies to teach mathematics but there is dearth of information on effort targeting child-friendly music to teach mathematics. “It was discovered that one of
the music types children love to listen to is hip hop music. This is because of the beats, rhythm and the danceable melody it has. It was also discovered that when children love a given music, they tend to remember all the lyrics. So if mathematics principles, formulae, ideas can be put into a child-friendly music like hip hop, this should enhance the learning of the subject. “It is against this background that hip hop music on primary mathematics was written and composed. We are still hoping government in south-west will see this invention and embrace it for adoption in primary school level. The song incorporate the curriculum at the primary basic level.�
Kwara Becomes 35th State to Join School Feeding Programme Hammed Shittu in Ilorin The federal government has disclosed that about 56,000 public schools in 35 states have benefited from its National Home Grown School Feeding Programme since its commencement in 2015. The Special Adviser to the President on the National Home Grown School Feeding programme, Mrs. Abimbola Adesanmi stated this in Ilorin, Kwars State at a two-day stakeholders’ workshop on
the commencement of the feeding programme in the state. “With this revelation, Kwara State has become the 35th state in Nigeria to join the scheme,� she said. The presidential aide, who stated that over 8.6 million people are enjoying the programme, added that more than 107,000 cooks and over 200,000 small holder farmers are taking part in the programme. She added that the federal government would cater for
feeding of pupils in primary 1, 2 and 3, while the state government would feed those in primary 4, 5 and 6 in the programme. “The programme is designed to improve enrolment rate by mopping out of school children from streets. It provides jobs for cooks and sustainable income for farmers who key into the scheme. “The reason we are here is for our leaders of tomorrow; by providing them with one hot meal of balanced diet and ensure they are in school.
“The programme will also provide opportunities of increased income level for farmers and cooks who engage in the programme and those who supply all other products. The increased income level and education would lead to increase in development of human capital,� she said. Also speaking, Governor Abdulrahman Abdulrazaq said the school feeding programme would go a long way to tackle menace of malnutrition while also strengthening the local economy.
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T H I S D AY Ëž Í°Í´, 2020
EDUCATION
TFN Recommits to Advancing Educational Equality Oluchi Chibuzor Teach for Nigeria (TFN) has reiterated its commitment to advancing educational equality in the country to ensure that all children are able to fulfill their potential, in line with the vision of the global movement of Teach for All Network. This according to the non-forprofit organisation, prompted the visit of members of the Teach for All Network’s Africa Region for its maiden advisory council meeting in Nigeria. The event was aimed at creating awareness about the organisation’s efforts across the continent through its network of partners, focused on how to support and accelerate collective efforts and impact for education equity in Africa. The organisation also
revealed its plans to scale ambitiously by recruiting an additional 400 fellows in its forthcoming recruitment phase which started on February 17, 2020. Speaking in Abeokuta, Ogun State recently, the Chief Executive Officer, Teach for Nigeria, Folawe Omikunle, thanked partners and stakeholders for their commitment to support the vision of the organisation, stressing that “one day, every Nigerian child will have the opportunity to attain an excellent education. “We are gathered here to celebrate three years of growth and impact; to reflect on our journey, and how far we have come. Also, to appreciate every one of you who have played a big role in this journey.� Highlighting its achieve-
ments in three years, she explained that TFN has recruited and placed more than 250 outstanding leaders across 92 schools in three states, adding, “more importantly, these young Nigerians have impacted the lives of more than 12,000 pupils and their communities.� Commending the Ogun State government at a stakeholders’ meeting in Abeokuta, the Head of Region for Africa, Teach for All, Vongai Nyahunzi said: “You have shown leadership as the first state to partner with TFN to place fellows in your schools to teach. “You have also shown our network a model of what is possible through active stakeholders’ partnerships. We are learning a lot from you and appreciate your support in the
last three years.� TFN is a non-profit organisation that focuses on improving educational equity in Nigeria by recruiting, training and placing outstanding graduates to teach in underserved schools for two years, and invest in their long-term leadership capabilities to be a force for expanding opportunity for children beyond their two years fellowship. Recognising the contribution of past fellows to the success of the programme in Nigeria, the organisation rewarded Gobi Daniel, a 2018 fellow teaching in L.G.E.A. Sheik Gumi Model Primary School, Tudun Wada, Kaduna State, with Fellow of the Year award, and Henry Anumudu, a member of the first cohort of alumni, with Alumni of the Year award.
L-R: The Category Brand Manager, Tolulope Olaoye; Senior Category Manager, Cocoa Beverage, Cadbury West Africa, Ifeoma Chuks Adizue; Head of Administration, Mona School (ďŹ rst prize winner), Ejiro Akinyomi; Managing Director, Cadbury West Africa, Oyeyimika Adeboye; and the Corporate Communication and Government Aairs Manager, Cadbury West Africa, Frederick Mordi, at the prize presentation to winners of the BournFactor Schools Talent Competition in Lagos... recently
Corona Ikoyi at 60: Old Students Reunite for Games Carnival Uchechukwu Nnaike As part of activities marking the 60th anniversary of Corona School, Ikoyi, Lagos, old students reunited to participate alongside the current students in the inter-house games carnival. The event featured activities like hula hoops, sack race, lime and spoon, shuttle relay, tug of war, three-legged race, as well as indoor games like ludo, chess, dart Monopoly, card games, among others. Aside the opportunity for the current students to participate alongside old students, the event also provided bonding opportunity for all, just as the old students recounted their experiences at the school years ago. In her remarks, the Head of School, Mrs. Adenike Onafeso described the 60th anniversary as a landmark event worthy of celebration, adding that she is honored to be part of the celebration. On the rationale behind featuring old and curren students, she said the school’s
anniversary is alumni business and they wanted to came back and play the games they used to play as pupils of the school. “Apart from that, we thought that it will be an opportunity for interaction between the old and present pupils and it will be an opportunity for the alumni to reminisce and to be grateful for their Corona years, whilst it is motivating and inspiring the young ones to become great achivers, distinguished and renowned people in their future fields of endeavour.� Onafeso said over the years, the school has continued to improve its standard in line with its goal to be the leading educational institution in the country. “We are current, we move with global trend; so as things are evolving, we move along with changes in education. So we have improved a lot of things, in technology, we are a Microsoft certified school, we have all the Microsoft apps at our disposal. We have incorporated coding and robotics in the teaching of ICT; our children have their laptops.
“We are also building skills in sports and music, we encourage the children to at least play an instrument. Language is also conversational.� While commending the alumni for their support so far, she said they can do more, adding, “we trust that the event will bring them closer. We are looking at having an endowment fund for sports, we are hoping they can start an endowment fund for cocurricular activities so if we have a competition abroad we don’t have to burden the parents, we just take money from the fund and send our best athletes for the competition.� On the declining standard of education in the country, the head of school said the government needs to pay more attention to strengthening teachers, sending them for trainings because empowerment is important. She also stressed the need to make learning fun for children, saying, “we no longer do rote learning; there are some things that children need to remember,
but not by rote learning, they need to first understand what they are taught before they can strive to remember. Every child has the right to education, even in areas where children do not have opportunities, they should be able to go to school because of intervention from government.� Also, the Chairperson, Corona School 60th Anniversary Committee, Miss Sola Alamutu said said the alumni wanted to come back and play the games they were playing way back then and the 60th anniversary was a good topportunity for that. On how the school has maintained standard over the years, she said the trust council is in charge of the school as opposed to an individual, so it has continued to maintain the legacy of Corona School, of quality education. Other activities to mark the anniversary she said include donation of ICT lab to a nearby primary school, family fun day, arts exhibition, theatre presentation and a gala night on May 2.
KEHINDE OMORU www.kayomoru.com
EVEN THE ELEMENT SHOVE It’s been storm Ciara, storm Dennis and current storm Ellen billowing across the roads, some of its phalanges branching o into individual properties to knock down dustbins, dislodge gate bolts causing gates to clang noisily in mock deďŹ ance, then exiting properties to join its force-pregnant wind to charge down the road in descent into streets ahead. As the climate globally evolves, so are our 12-year 12-month olds taking their next seven years to journey into 18 -the start of their adult lives. Our children’s lot seems to be more unsettled, in my opinion. Today, it is diďŹƒcult to always be positive. World politics, social media, strained inter-national relations, religious intolerances, racist issues, natural disasters, wars and terrorist attacks - all make life challenging for adults as it were. For teenagers, the prospects of the many more years laid out in front of them, must be daunting for many. In developing countries like Nigeria, stressors and anger-triggers for teenagers abound. The majority of teenage Nigerian children are forced to grow up long before their time. Loss of a parent, failed marriages, inequalities in wealth and poverty saddle them with weighty daily responsibilities. These responsibilities range from fending for their younger siblings; sponsoring their own education to fending o sexual abuse, emotional abuse and other vices. Teenagers handle adversities dierently. Some are quick to build a defensive wall around them when faced with challenges. Many others lash out, courier drugs, become reckless and sadly die too young. Do you know your teen child or teen-student very well? Have you got an angry teenager around you? Do you compound the problem with a stringent high-handedness? Physiologically, teenagers are a bundle of charging hormones. Psychologically, they are in the process of resolving their own emotions and coming to terms with their changing roles. They are trying to modify their physical appearance to â€˜ďŹ t in’ whilst they are in the process of developing a comfortable self-image. Little wonder then that teenagers seem often compelled to be defensive and at times raucous. Teenagers are not always thoughtful and compassionate individuals. They are constantly in competition, jealousy is a huge factor. The ďŹ ght to always be number one is not uncommon in the teenage world. Developing an anger management plan for a teenager should be done with him/her. Such a programme should be tailored to the realities of their social environment. In order for the anger management plan to be successful, an individualised programme must be designed that would reach the targeted teen without being overbearing. However, do remember that most teens would be diďŹƒcult anyway, as teenagers tend to be quick to resist advice and are not always compliant with instructions. Convincing a teenager that they have behavioral issues which need attention may be a challenge itself. However, you must persevere as it is essential to make them see the importance of making a change. We all know that if anger is not controlled, it could damage the life of the individual aected. Teenagers with anger behaviours that yell and scream, verbally abuse, damage properties, goad people around, may even go on to carry out self-injurious behaviour. It is important at regular points, to reassure troubled teenagers that everyone can change and that they can be a success. Let them know that they can make positive changes to their own lives which would ultimately make their life easier and more enjoyable. So learning to control their own anger would deďŹ nitely be a positive move. Anger management for teens should support teenagers to be self-aware, to evaluate their own feelings and to understand the reasons for their anger. Teenage anger management plans should incorporate activities that: -help teens learn to practice self-control -to pause a few seconds and think about the eects of their reactions to situations. -to make a choice, pick an option which would bring about effective results -review their own progress -see what the outcome of their choice are. By using this plan each time they are confronted with irritating situations, eventually the teenager should be capable of dealing with confrontations much better. Teenagers have their own minds with their likes and dislikes. Suggesting techniques like exercising or listening to music might not be enough anger management for teens. Success would only be achieved when the teenager is able to accept responsibility for their own actions and realise they need to make changes. Using their own likes as distractions may be a good tool in anger management. These may be techniques which they are willing to try when they feel angry or threatened. Helping a teenager to be successful in anger management may require hours or months or even years of hard work and tears. However, realising that your younster is being spared from a future of recklessness is worth every eort.
Mrs Kehinde Omoru writes from the UK
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Cleric Canvasses Societal Values, as Church Establishes Technical Institute Funmi Ogundare The Archbishop of the Metropolititan See of Lagos, His Grace, Alfred Adewale Martins has appealed to parents to create more time for, and pass on the values they have learnt to their children, saying that the move will help in making the society a better place. He also stressed the need for schools to up their games in ensuring that the children become responsible citizens as far as values and integrity are concerned. Martins said this during an afternoon with the Archbishop on youth development in Lagos, which provided an opportunity for a sensitisation on plans by the Catholic Church to establish St. Joseph the Worker Technical Institute, where practical skills would be acquired by youths. He expressed concern about the changing value system, saying, “the kind of possibilities that are there in families are not what it used to be, the kind of opportunities that are there for children and for the parents to pay all the attention to the children is no longer there. “Parents need to create more time for their children, the schools are also supposed to be incubators for turning out good citizens, should also up
their games as far as values of integrity and honesty are concerned so that all the cheating and dishonesty that you find among teachers and students will be a thing of the past.� Emphasising on the institute which will commence academic activities by September this year, Martins said: “Our church has always taken it as a responsibility to educate the young. We take the education of the youths as very vital because the mission of Christ is to go to the ends of the earth to proclaim the good news and the proclamation of the good news involves educating people in values. The vision that is being exposed today will come to realisation that all of us will be glad.� He said the institute will provide skills, education and values, as well as the needed manpower. “I have always had this feeling that we need to train more people in a facility that is able to give them skills that will impact the society, and in doing that, they will also have the values that the society will learn from and imbibe. We all know how difficult it is to get people to do tiling and electrical works of the built industry. “We know how we had to go far away to other countries
STEM Gets a Boost, as World-class Centre Emerges in Abuja Kuni Tyessi in Abuja A world-class Science, Technology, Engineering and Mathematics (STEM) centre, described as the first of its kind, has emerged in the federal capital territory to boost technical education and artificial intelligence. Known as Skill G Innovation Centre for STEM Education, the centre is meant for the advancement of technical education, science and mathematics in Nigerian schools. While unveiling the multibillion naira education centre to the media, its Managing Director, Prof. Gregory Ibe explained that it is “a turnkey project company that incubates and imparts the idea of technical education.� He said the basic aim for establishing the centre was “to support all educational institutions in Nigeria involved with our programmes to deepen their knowledge of design, manufacturing, assemblage and training of technical backstopping of all equipment in the institutions.� While disclosing that the company is open to all others with interest in STEM education, Ibe said “the tradition of ensuring that skill- based education returns to the centre stage and that practical education dominates the essence of our education system is what over the years has culminated in what you witness here today.� Explaining that “Skill G Innovation Centre is a private sector led establishment for STEM and
artificial intelligence, the first of its kind in Nigeria,� Ibe said,�it is meant for the advancement of technical education, science and mathematics in the Nigerian schools. “The official commissioning of the facility will still be handled very soon by the minister for education on a date that will be announced to you,� he told journalists who were taken to the centre on assessment. Explaining further, he said: “Time was when the government of Nigeria between the 1960s and 1970s placed very high premium on technical and practical education. Time also was when the tradition was totally abandoned even when the need for it heightened and our education system dropped into a state of poor hope for productivity, impact and relevance to the society. “After that trend when technical colleges were commonplace, we had a disheartening harvest of paper qualified educated persons who never had the opportunity of skilled training. We had that lapse at a time when the rest of the world upped their emphasis on skill-based education. “It was at such point in the education history of this great country that Skill G came to the rescue of filling a gap that needed not exist.� According to him,�for about 29 years, the company has championed the sustenance and revival of the glimmer of light in technical education and skill based curriculum.�
in order to get them, whereas it is not impossible to get such people in our country to do it. To do it along with the moral values that are necessary, we will ensure that when the work is done, they are done with integrity in such a way that
everybody will be satisfied.� On the stigma usually associated with being a craftsman, the archbishop advised people to recognise that there is dignity in every level of labour, adding, “apart from that, people should also take pride in the
work that they are doing, a bricklayer for instance considers himself as lower than the architect, whereas the job of the architect is different from that of the bricklayer, so we need to give each professional the due regards.
“Let people recognise that there are possibilities of earning good money from these so called lower jobs. People who are carrying around certificates are not getting jobs, not to talk of those who are really doing the jobs.�
L-R: Odu of Onitsha, Chief Arthur Mbanefo; Vice-Chancellor, University of Lagos, Prof. Oluwatoyin Ogundipe; Former Minister of Justice and Attorney General of the Federation, Chief Bayo Ojo; and CEO, Agusto and Co, Mr. Bode Agusto, at the Chief Arthur Mbanefo Lecture Series, held at the Arthur Mbanefo Digital Research Centre (AMDRC), UNILAG... recently
Ex AG, VC, Others, Solicit More Funding of Education Sunday Ehigiator In a wake-up call for universities to be prepared for the realities of the fourth Industrial Revolution’, former Minister of Justice and Attorney General of the Federation, Chief Bayo Ojo, alongside the Vice-Chancellor, University of Lagos, Prof. Oluwatoyin Ogundipe and other stakeholders have called on government, philanthropists, and other beneficiaries of the university system to ensure that the sector is adequately funded so it can thrive and measure up with the rest of the world. They said this at the Chief Arthur Mbanefo Lecture Series, recently organised at the Arthur Mbanefo Digital Research Centre (AMDRC), University of Lagos (UNILAG). The lecture series which
happens to be the first of many others to come, was themed ‘Realities of University Education in Nigeria: Are we Ready for the 4th Industrial Revolution?’ It was well attended by the Odu of Onitsha, Chief Arthur Mbanefo, at whose honour the event was held as a former Pro-Chancellor of several universities, including UNILAG; the CEO, Agusto and Co, Mr. Bode Agusto, among other dignitaries. In his remarks, Ogundipe reiterated that the government alone cannot fund university education in Nigeria. “Those who want government to provide high quality, free university education should get real. Population growth is too high; with five million addition per year, and government revenues are too low; with N50,000 per person, per year.
“Historically, universities in Nigeria have been over reliant on the government for funding. This worked when the demand for quality education was in thousands. Now that it is in millions, this funding model is unlikely to deliver value to all stakeholders.� Giving statistics of realities of educational demands in Nigeria, the guest lecturer, Agusto said in Nigeria, students should undertake their undergraduate studies between the ages of 19 and 22. “According to populationpyramid.net, in this age bracket, Nigeria had 9.4 million people in 2000. Currently, she has 12.6 million and she will have 25.5 million in 2040. “About 3.15 million people will turn 19 years this year, approximately 2.0 million or 63 per cent of them will
apply to universities and only 0.5 million or 16 per cent of those who turned 19 will be successful. “The ‘4th Industrial Revolution’ combines digital, computing power, biology, and bio-chemistry to solve problems for humans. It is about using machine learning, artificial intelligence, augmented reality, black chain, robotics and the internet of things to scale and customise products and services to the needs of consumers. “The revolution is changing the way we work and strategise. Are Nigerian universities ready? or how do they prepare.� On how to prepare, Agusto noted that funding, academic staff, infrastructure, research, technology and quality of graduates in the country must urgently be improved upon.
APWEN Makes Case for Girl-child in Engineering Funmi Ogundare The Association of Professional Women Engineers of Nigeria (APWEN) has called on the international community, states and individuals to work together so that there can be equality in the field of engineering for the girl-child. The President of the association, Mrs. Funmilola Ojelade, who said this recently at this year’s International Day for Women and Girls in Science with the theme ‘Investment in Women and Girls in Science for Inclusive Green Growth’, said such efforts will create more awareness on gender issues. She said the day, by resolu-
tion of the United Nations, is an opportunity to promote full and equal access to and participation of women and girls in science so as to achieve gender equality and the empowerment of women and girls. “The theme for this year’s programme is a reminder that women and girls play a critical role in science and technology communities and that their participation should be strengthened. Recent studies show that there still exists a significant gap in the number of girls in schools compared to that of boys, especially in many developing countries like Nigeria. The gap is even wider when it comes to
girls in the field of science and technology. “Only about 30 per cent of world researchers are women from a recent data released by UNESCO. According to the United Nations, science and gender equality are critical to the achievement of the Sustainable Development Goals five and nine.� While appealing to more girls to consider engineering as a career, the president said, “In a male-dominated space, there are unique women who, despite all odds against them, have made excellent achievements just as their male counterparts in various fields of the sciences.� Ojelade recalled some of the women who have
made a mark in the field of engineering saying, “Ebele Okeke, a woman of many firsts. She is Nigeria’s first female civil engineer and the first female Head of the Civil Service of the Federation. She was also the first engineer to hold that post. In 2010, she was appointed Water, Sanitation and Hygiene (WASH) Ambassador for Nigeria by the Water Supply and Sanitation Collaborative Council, Geneva. An organisation within the UN system in 2010 and by 2011, she was elected the lead spokeswoman for sanitation and water for all of the Global Partnership for Water and Sanitation, New York, USA.
T H I S D AY ˞ Ͱʹ˜ Ͱ͎Ͱ͎
38
CITYSTRINGS
ĂœĂ™Ă&#x;Ăš Ă?Ă‹ĂžĂ&#x;ĂœĂ?Ă? ĂŽĂ“ĂžĂ™ĂœË? Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă? äĂ?Ă™ĂŒĂ“ Ă—Ă‹Ă“Ă– Ă?Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă?Ë›Ă?äĂ?Ă™ĂŒĂ“ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ă™Ă—Ëœ ͙͔͙͚͚͓͖͑͑͑͒
Road Network Thrills Abia Community Emmanuel Ugwu, Umuahia writes that given the decades of neglect by successive governments dating back to the second republic, the recent construction of the 12-kilometre major road leading into Ugwueke Ibina Ancient Kingdom in Abia State was welcomed with fanfare
G
iven their decades of neglect by successive government dating back to the second republic, the last edition of Ugwueke Day could have been a day of lamentations over absence of social amenities. But it turned to be a day of great celebration as the people gathered in a joyous throng to express profound happiness over the construction of the major road leading into Ugwueke Ibina Ancient Kingdom. The 12-kilometre road originating from Alayi junction forms the main artery of Ugwueke and extends further to the neighbouring Akaeze community in Ebonyi State. The Ugwueke Secondary School ground, venue of the 2019 Ugwueke Day was packed full of people, including friends and well wishers of the community. The leadership of Ugwueke Development Union (UDU), which organised the event, did not leave any stone unturned to make the day a memorable one. President of Ugwueke Development Union, Mr. Isaac Mba Okorie said the Ugwueke Ancient Kingdom comprising six autonomous communities has every reason to celebrate the completed road project. “Going down memory lane,� he said, “this road had defied past governments back to the days of (late Governor) Sam Mbakwe of old Imo State�. According to him, the “positive impact� of the road on the socio-economic life of the community could only be fully appreciated by indigenes of the agrarian community and their friends. The President General of Ugwueke In Diaspora (UID), Sir Chris Elekwa, further captured the importance of the road project to Ugwueke in his goodwill message. He said that the construction of the road represented the “foundation for growth and development which turns rural areas to urban settings. This will increase market flow to local traders and other businesses in our community�. The women of Ugwueke under the aegis of UgwuekeNational Development Association also underlined the benefits the constructed road has brought to their community. The women said that the new road “has alleviated the sufferings of our people in sending their farm produce to the markets’ and has also made it easier to connect with their neighbouring communities. These women, who probably suffered most when the road was in very bad shape poured encomiums on Sir Johnson Chukwu, saying that he has demonstrated unquenchable love for his people “by this singular action� of getting NDDC’s intervention to fix the rural road. Development had been coming in trickles to the community that prides itself as the “food basket“ofAbia state and for years placed the Alayi - Ugwuekeroad as a top priority of their developmental needs. And they waited in long hope. In fact Sir Elekwa noted that the construction of the Alayi – Ugwueke – Akaezeroad “had been the dream of many� before Chukwu was used by God to make it a reality. When succor finally came, it was through the instrumentality of their illustrious son, Chief Johnson Chukwu. He was said to have leveraged on his network of connections and goodwill to draw the attention of the Niger Delta Development Commission (NDDC) to the plight of his people over their hitherto forsaken road. The contract was awarded and executed in three phases. After the completion of phases two and three of the road contract with compliment of drainages the people heaved a deep sigh of relief and reasoned that it was worth being celebrated. The drums were rolled out to also celebrate the man who made it possible. The people of Ugwueke in unison recognised the immense contributions of Chukwu to the development of their community. He was therefore honoured with the distinguished personality of the year award while the traditional rulers led by Eze IkwunnaOkorie Ugwu capped it with conferment of chieftaincy title of Omeziri
A part of the 12-kilometer Ugwueke Road
L-R: Chief Olorogun O'tega Emerhor, Chief Johnson Chukwu and wife, Nneoma, as well as wishers at the event Obodo I of Ugwueke. The title which translates to a person that brings transformation ordevelopment to his community was in appreciation of the numerous efforts that he has put in brining the good things of life to his neglected community. As the entire community and their friends that came from far and near swirled in the joyous throng the star man was Chief Chukwu. The UDU president stated that “it was the first time Ugwueke people have invited their friends and to give honour to a worthy son who has spectacularly distinguished himself in the services of God and his people�. Chief Chukwu, who is the founder/group managing director of Cowry Asset Management Limited, is credited with several developmental activities, including, building and equipping a maternity block at the Royal Cross Methodist Hospital, Ugwueke. Over the years he was bearing the cost of grading the Alayi – Ugwueke road to make it passable until he was able to bring NDDC to take up the project. Chukwu was said to have single-handedly reconstructed the collapsed Ngele-uke bridge linking Uwueke and Akaeze, and in 2014 restored electricity to his community by changing all the wooden crossbars to iron and restringing the 33KVA transmission line from Alayi to Ugwueke as well as energising the transformers. In the service of God the iconic personality of Ugwueke was identified as the major contributor in the rebuilding and equipping of the Methodist Church at Isieke Amaba Ugwueke and the Nativity Monastery of the Catholic Church at Ugwueke. In fact the long list of Chukwu’s good deeds in his community portrayed him as a very compassionate philanthropist, who is
always ready to help the less privileged in every area of their needs, including empowerments, education and health care. He has equally extended his gesture to the members of the National Youth Service Corps (NYSC) posted to his community. For the past two years he has been subsidising their allowances of those serving in public institutions like schools with additional monthly stipend of N10,000 each. Any new visitor to Ugwueke after the road had been fixed would not understand what the people had endured for decades. But the inhabitants of this agrarian community knew what they had suffered while going in and coming out of their communitythrough the road which deplorable condition was considered “worst burden and greatest source of shame�. The people recounted that the suffering inflicted on them by the absence of good road dated back to the colonial era and it was like a jinx as every effort previously made to draw government’s attention to the deplorable state of the road all failed. Not even the presence of the Royal Cross Methodist Hospital, reputed for providing efficient health care services could make previous governments look the way of Ugwueke and quench the community’s desire for good road. And as the bad situation kept getting worse, a journey into Ugwueke Kingdom remained a nightmare all year round. During the rainy season the road is so ragged, muddy and slippery that even those walking on foot had to maintain a steady balance to avoid falling to the ground. Motorists that brave the road had to struggle with the steering to maintain a grip on the road without running into the bush. In the dry season the road users waded through a
cloud of dust raised by moving vehicles. There were some years the situation got so bad that the only manageable means of accessing the community was motorcycle. And it was even a herculean task. Any wonder that of all of his good deeds to his community the Ugwueke people regard the construction of heir road as “the mother of all achievements� by their illustrious son. It was pointed out in his citation that Chukwu “has not only conquered the shame (of inaccessibility of his community), he has lifted Ugwueke to the same developmental pedestal if not higher than its neighbouring communities�. It was not only their illustrious son that Ugwuekepeople deemed it fit to honour. They also honouredOlorogun O’tega Emerhor with the chieftaincy title of Enyioma (good friend) of Ugwueke. It was in recognition of “the pivotal role� played by the Delta state born politician, businessman and accomplished leader in assisting Chukwu to draw the attention of NDDC to the deplorable state of the Ugwueke road. He was also bestowed with the distinguished honorary citizen of Ugwueke community. In the citation on Chief Emerhor, the Ugwueke people noted that Emerhor, through his friendship with their own son,“has become more than a friend to Ugwueke Kingdom. He was said to have demonstrated that he is a friend in need because “after listening to the cries of his friend(Sir Johnson Chukwu) on the most deplorable state of Ugwueke road, Emerhor offered to help by getting the relevant government agency to intervene in fixing the road. Emerhor kept his promise. �Ugwueke road is now the envy of other towns in Abia state,� the people enthused in their appreciation of their Enyioma. In celebrating the construction of the road that had been in deplorable state “since the creation of the earth� the people of Ugwueke did it with pomp and pageantry laced with ample display of their culture.There women entertained gests with cultural dances and also did a march past for development. The Okwengba Ugwueke group entertained with its scintillating cultural music. Immediately after receiving his chieftaincy title and regalia, Chief Chukwu did a lap honour round the venue accompanied by his wife, relatives and friends. Then the Omeziri Obodo I of Ugwueke danced to the pulsating Okwengba cultural music to the cheers and admiration of well wishers. Having gotten what they considered their most important development project the people of UgwuekeIbina kingdom year for more social amenities. The Ugwueke Development Union listed 11 projects the community needs to make life more comfortable for the inhabitants. The developmental projects with a total value of N193 million include completion and furnishing of Ugwueke library, provision of IT equipment, computers, internet facilities. There is need for renovation and equipping of four primary schools, building of additional classroom block of six rooms at Ugwueke Secondary School and scholarship scheme to support indigent Ugwueke students. Other planned projects include water and sanitation project involving geophysical survey and drilling of at least three deep boreholes in Ugwueke for supply and reticulation of drinking water, powered with solar and electric pumps. The UDU is also wants to provide financial support tosome of the hamlets and communities to build public toilets in order “to discourage open defecation in our communities�. It’s certain that the people of Ugwueke would rely on self help to realise their lofty projects given their past experience in stating government intervention. The UDU has therefore requested for the support, sponsorship, partnership of its sons and daughters, friends of the community to implement the “impactful projects programmes�. That could be why the transition Chairman of Bende Local Government, Hon Hagler Okorie stated that Ugwueke needs up to 20 more people in the mould of Chief Johnson Chukwu to deepen development in the community.
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T H I S D AY ˞ Ͱʹ˜ Ͱ͎Ͱ͎
CRIME&SECURITY
Shaping the Battle Space through Sustained Air Power Chiemelie Ezeobi chronicles the successes recorded by Operation Rattle Snake 3 of the Nigerian Air Force in its ongoing operation in Borno State since the launch on February 4
NAF aircraft deployed for Operation Rattlesnake 3
One of the strikes carried out in the operation
O
n Wednesday, February 4 2020, the Chief of Air Staff (CAS), Air Marshal Sadique Abubakar, launched Operation Rattlesnake 3 for the Nigerian Air Force (NAF). The launch was necessary following the successes recorded by Operation Rattlesnake 1 and 2, last year. Operation Rattlesnake 3 is aimed at targeting selected locations within the North-east in order to shape the battle space for the effective conduct of further ground and air operations. Through its Air Task Force (ATF) of Operation LAFIYA DOLE, Operation Rattlesnake 3 launched an onslaught against terrorists’ elements in the North-east on February 5. Targeting selected locations within the North-east, they further degraded the remnants of the terrorists as well as denied them freedom of action. According to the Director of Public Relations and Information (DOPRI), Air Commodore Ibikunle Daramola, on that day, air strikes by NAF attack aircraft resulted in the destruction of an Islamic State of West Africa Province (ISWAP) hideout as well as the neutralisation of some of their fighters at Tongule in the Lake Chad area of Northern Borno State. The air strikes were executed following series of Intelligence, Surveillance and Reconnaissance (ISR) missions, indicating that ISWAP fighters were harboured in some buildings at the southern edge of the settlement. Accordingly, the ATF dispatched its fighter jets to engage the location, scoring accurate hits on the designated target leading to the destruction of the structures and the neutralisation of some of the terrorists. On February 7, the operation intensified and they eliminated some ISWAP terrorists and destroyed compounds housing them at Kaza in the Northern part of Borno State. The air strike was executed following credible intelligence reports indicating that some ISWAP elements, who relocated from nearby Tongule, had set up camp in a cluster of compounds at Kaza, along with their logistics supplies. The DOPRI said the identified location within the settlement was attacked by the ATF’s fighter jets after confirmatory ISR missions showed significant presence of terrorists. This resulted in the destruction of the structures and the neutralisation of some of the ISWAP fighters. On February 8, the operation recorded another major success with the neutralisation of some key BHTs leaders at Alafa Yagayaga on the fringes of the Sambisa Forest in Borno State. This was achieved when fighter jets dispatched by the ATF obliterated a compound in the settlement where the leaders had assembled for a meeting. Daramola said the air strike was executed on the heels of credible intelligence reports indicating that the BHT leaders
The aftermath of one of its strike on the Boko Haram Terrorists hideout
Chief of the Air Sta, Air Marshal Sadique Abubakar had converged at the target compound for a meeting over the weekend, adding that ISR missions, which confirmed the meeting venue, also observed several BHTs in and around other buildings in the vicinity of the compound. Bombs from the detailed attack aircraft scored accurate hits on the target leading to the obliteration of the compound and surrounding structures as well as the neutralisation of their BHT
occupants. On February 16, another successful air raid by NAF destroyed an ISWAP training camp at Kirta Wulgo on the fringes of the Lake Chad in the Northern part of Borno State. This was again achieved in air strikes conducted on the heels of credible intelligence reports as well as series of ISR missions which established that some structures within the settlement were being
used by the terrorists to house and train their fighters. Accordingly, the ATF dispatched an enhanced force package of attack aircraft to engage the identified locations within the settlement. The fighter jets took turns attacking the target area in successive passes taking out the training facilities. Also, the intensified offensive operations of NAF dealt another devastating blow on elements of ISWAP with the destruction of another training camp at Tumbun Zarami on the fringes of the Lake Chad in Borno. The mission was conducted on after successive days of ISR missions as well as intelligence reports from multiple sources, including the Multinational Joint Task Force (MNJTF) Headquarters, which revealed that training activities were being carried out in and around some makeshift structures hidden under the shrubbery within the settlement. Consequently, the DOPRI said the ATF detailed its attack aircraft the engage the “Training Camp 4�, scoring accurate hits which led to the destruction of the suspected camp commander’s house as well as some other structures within the camp. On February 19, the ATF destroyed an ISWAP hideout and neutralised some of its fighters at Bukar Meram on the fringes of the Lake Chad. This was achieved in air strikes conducted after intelligence reports had indicated an increase in activities in the settlement with the observation of more terrorist fighters operating in the area. Accordingly, the ATF scrambled its attack aircraft to engage designated locations within the settlement scoring multiple hits, leading to the neutralisation of some terrorists as well as the destruction of some structures housing the ISWAP elements. On Thursday, February 20, air strikes conducted by the ATF under the auspices of Operation Rattlesnake 3, have continued to yield tangible results against terrorist elements. The latest of these was achieved in attacks conducted at Jubillaram and Alinwa in Borno State, where some key ISWAP leaders were neutralised as they assembled for meetings at the two locations. The DOPRI said the mission was executed on the heels of credible intelligence reports indicating that some key ISWAP leaders had assembled for meetings, which were being held simultaneously at two separate venues, at Jubillaram and Alinwa in Marte Local Government Area. Accordingly, he said the ATF scrambled its attack aircraft to engage both locations, damaging the meeting venues and neutralising the terrorists. Expressing optimism on the fight to degrade the terrorists, Daramola added that the NAF, operating in concert with surface forces, will continue to sustain its air campaign to shape the battlespace in the North-east for the effective conduct of further ground and air operations.
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T H I S D AY ˞ Ͱʹ˜ 2020
BUSINESS/MONEYGUIDE
AfDB: AU Endorses Adesina for Second Term Obinna Chima The Executive Council of the African Union has supported Dr. Akinwumi Adesina’s candidacy for a second term as President of the African Development Bank (AfDB). A statement yesterday disclosed that the decision was taken during the 36th ordinary session of the AU Executive Council, held during the AU Summit in Addis Ababa, Ethiopia, earlier this month. Adesina was elected to his first term as President by the Bank’s Board of Governors at
its Annual Meetings in Abidjan on 28 May 2015. He is the eighth President of the African Development Bank Group and the first Nigerian in the post. During his first term, the Bank’s shareholders approved a landmark $115 billion capital increase last October. The increase in the capital base, from $93 billion to $208 billion, signaled strong support from the Board of Governors in the continent’s foremost financial institution. Adesina is a renowned development economist who has held a number of high-
profile international positions, including with the Rockefeller Foundation, and as Nigeria’s Minister of Agriculture and Rural Development from 2011 to 2015. The African Union Executive Council comprises 55 ministers of foreign affairs representing the member states of the African Union. In December 2019, the Economic Community of West African States (ECOWAS) also endorsed Adesina for a second term as bank chief. The election would again take place at the Bank’s Annual Meetings in May in Abidjan.
$14m Debt: Court Fixes April 6 for Sahara Group, Ecobank’s Case Justice Rilwan Aikawa of the Federal High Court in Lagos has adjourned till April 6, to take pending motions in an alleged $14 million debt case between Sahara Group Limited and Ecobank Nigeria Limited. The judge fixed the date yesterday, after Ecobank’s lawyer, Mr. Obinna Divine, informed the court of his client’s January 23, 2020 motion seeking a summary judgment for the sum of $9,125,119.34, while Sahara Group’s lawyer, J.A. Adesulu, said his clients had filed a motion on notice in opposition. Sahara Energy Resources Limited, Isle of Man, and Sahara Group Limited had dragged Ecobank to court seeking an order to stop the bank from carrying out a, “unilateral review of interest rates,� on loans obtained by the oil firms. But Ecobank filed a counterclaim, insisting that it “reserves the right to review its interest rates from time to time in line with prevailing market conditions.� The bank claimed that based on computation, Sahara Energy
Resources Limited, Isle of Man, and Sahara Group Limited were indebted to it in the sum of $14,069458.30 “being the principal sum and interest due to the counter-claimant as of 21st August, 2019.� Ecobank said though the oil firms had offered to pay it $9,125,119.34 “as full and final settlement of their indebtedness,� it remained firm in its demand for $14,069,458.30 as their debt as of August 21, 2019. However, the bank urged the court to, in the meantime, order the oil firms to immediately pay the $9,125,119.34, which they had allegedly admitted “after the joint reconciliation carried out by parties.� It then prayed further prayed the court to compel the oil firms to pay it another $5,069,458.30 “being the outstanding correspondence to the defendant in tandem with the offer letters of the 1st of May, 2016 and other subsisting agreements between the parties.� But Sahara Energy Resources Limited, Isle of Man, and
Sahara Group Limited have, through a motion on notice, urged the court to strike out the bank’s motion on notice and other processes on the basis that the bank wrote Sahara Energy Resources Limited, instead of Sahara Energy Resources Limited, Isle of Man, as the first plaintiff in the papers it filed. Counsel for the oil firms contended that by omitting to include Isle of Man, in the name of Sahara Energy Resources Limited, Ecobank had “unilaterally introduced a new party to this suit that is not a party to the originating processes, without the express order of this court to do so.� It said for this, the court “lacks the jurisdiction to countenance the abovereferenced processes filed by the defendant, which will also constitute a crass abuse of judicial process.� Justice Aikawa adjourned till April 6 to take Ecobank’s application for summary judgment for the sum of $9.1million and the oil firms’ motion seeking the striking out of the bank’s court papers.
FidelityBank Rewards More Customers inPromo Nume Ekeghe Lucky customers of Fidelity Bank Plc across the country have received their cash prizes and consolation prizes at the second bi-monthly draw of the Get Alert in Millions (GAIM) promo season 4. The Managing Director, Fidelity Bank Mr. Nnamdi Okonkwo, said the bank has consistently kept to its words by rewarding customers. He said a total of N68 million in cash prizes as well as other consolations prizes has been won so far. Okonkwo, said this on Monday, at the second BiMonthly/4th Monthly Prize Presentation of the GAIM held in Lagos. The customers - Mr. Salisu Mohammed and Mrs. Chinonso Chukwudubem -who both won N2 million respectively, and Mrs Adepeju Esther who won N1 million were presented with the cash at the Oshodi branch of Fidelity Bank, Lagos, in the presence of their family members, the media, officials of National Lottery Regulatory Commission, Consumer
Protection Council, Lagos State Lotteries Board, among others. Speaking during the presentation, Okonkwo, who was represented by the bank’s Divisional Head, Retail Banking, Mr. Richard Madiebo, expressed delight at having more winners while assuring that Fidelity Bank would continue to keep its promise of rewarding and improving the living standard of its customers. “GAIM is part of the series of our promo which has held over the last 13 years and this is the ninth promo that we have held. “This promo is meant to improve the standard of living of our customers and also drive the financial inclusion narrative of the federal government. “With this, we have been able to avail prizes in cash and consolation prizes. “We have done about N68 million in cash prices so far and we have N52 million to go. So, what we are telling customers is that this is the time to save money. “You are always a winner when you save, it is either you
are winning in the area of cash prices or consolation gifts or even in the good service that you are given in any of our branches.� He added: “We have been able to tell customers, not only in the prices we have given, but in the various activities we have also instituted, that the savings culture is here to stay. “The fact that the federal government is very interested in the financial inclusion narrative, it is also very important to us in Fidelity Bank. In addition, this is to reach out to customers through financial inclusion strategies, agent banking and using digital channels to further drive that narrative among the various sectors of the economy.� On how to qualify for the draw, the Branch Manager, Fidelity Bank, Oshodi, Mr. Abisayo Raji, said both existing and new customers should simply top up their account with N10,000 for existing customers or someone opening a new account and building it up to N20,000.
L-R: Deputy Managing Director, HuaweiTechnologies Company Nigeria Limited, Mr. Kelvin Yangyang; School Principal, Mrs. Felicia Orimoogunje; Minister of Interior, Mr. Rauf Aregbesola; Managing Director, HuaweiTechnologies, Mr.EricZhangLulu;OsunStateSpeaker,TimothyOwoeye,andSeniorAccountManager,Huawei,Mr.EricYangwei, during the company’s donation of educational materials to Ogedengbe High School of Sciences in Osun State‌ recently
MARKET INDICATORS 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
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OPEC DAILY BASKET PRICE AS AT MONDAY, 24 FEBRUARY 2020
The price of OPEC basket of fourteen crudes stood at $56.11 a barrel on Monday, compared with $58.17 the previous Friday, 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
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T H I S D AY ˞ Ͱʹ˜ Ͱ͎Ͱ͎
MARKET NEWS
African Prudential Posts N1.7bn Profit, Recommends N1.4bn Dividend Goddy Egene African Prudential Plc has recorded a profit after tax (PAT) of N1.68 billion for the year ended December 31, 2019, showing a decline of 13.9 per cent from N1.95 billion in 2018. The audited results showed gross earnings of N3.902 billion, down from N4.485 billion. Profit before tax (PBT) reduced marginally from N2.394 billion to N2.389 billion. According to the company, the PBT reduced by
0.2 per cent despite the decline in gross earnings., explaining that reduction was on the back of an 89 per cent drop in the interest paid on borrowings which effectively reduced the company’s finance cost by 88 per cent. African Prudential Plc ended the year with PAT of N1.68 billion, out of which N1.4 billion has been recommended as dividend to the shareholders. The dividend translates into 70 kobo per share.
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Commenting on the result, Managing Director/CEO of Africa Prudential, Mr. Obong Idiong said: “2019 was a challenging year in the money and capital market as businesses struggled to deliver positive results due to the drastic reduction in interest rates on treasury bills and other money market instruments. We were also affected by this decline which cause our gross earnings to fall by 13 per cent. We were, however, able to increase our revenue from
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contracts through a strategic increase in our retainership fee by 21 per cent. We remain dedicated to delivering quality registrar business to our clients while we slowly transition into digital technology.� According the MD/CEO, during the year, their Innovation Lab introduced a number of innovative products to the market, some of which include a new version of EasyCoop an enterprise resource solution for cooperative societies and
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EasyMall a cooperative market place. “We have also continuously strived to improve how we currently serve our clients as evident in the recent upgrade of our Customer Experience Center and introduction of new customer channels. Our digital transformation journey on course as we change the way we create, deliver and capture value,� he said. “For us at Africa Prudential, the future is digital technology driven which is why we are
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integrating all our processes into a seamless system that offers world-class solutions to our customers and creating new revenue lines. In the long-run, this would reduce our huge exposure to capital market activities which has been on a decline of late. Our company would continue to innovate not only to improve capital market interactions but also to improve our top line in order to deliver superior value to all stakeholders.�
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WEDNESDAY, FEBRUARY 26, 2020 ˾ T H I S D AY
MARKET NEWS
Neimeth Records Impressive Financial Performance Goddy Egene
30, 2019 and the first quarter increased by 48.7 per cent from (Q1) results for the 2019/2020 N148.02 million to N220.15 million Neimeth International financial year ended December for the two periods respectively. For Q1 turnover leapt by Pharmaceuticals Plc is riding 31, 2019. For the FY, profit before 167.1 per cent to N606.5 million on the strength of operating and finance efficiency to grow tax(PBT) jumped by 82.9 per cent compared with N227.07 million its bottom-line for the 2018/2019 from N166.46 million to N304.44 recorded in comparable period of full year (FY) ended September million after taxes, net profit 2018/2019 business year. Gross A Mutual fund (Unit Trust) is an investment floor of the Nigerian Stock Exchange. vehicle managed by a SEC (Securities and A REIT (Real Estate Investment Trust) is an Exchange Commission) registered Fund Manager. investment vehicle that allows both small and Investors with similar objectives buy units of the large investors to part-own real estate ventures (eg. Fund so that the Fund Manager can buy securities Offices, Houses, Hospitals) in proportion to their that willl generate their desired return. investments. The assets are divided into shares that An ETF (Exchange Traded Fund) is a type are traded on the Nigerian Stock Exchange. of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, GUIDE TO DATA: etc.) and divides ownership of those assets into Date: All fund prices are quoted in Naira as at 24shares. Investors can buy these ‘shares’ on the Feb-2020, unless otherwise stated.
profit quadrupled by 465.6 per of N82.65 million in December cent from N53.52 million to 2019 as against net loss of N139.16 N302.71 million. The company million in December 2018. replaced operating loss of N119.3 Managing Director/ million in December 2018 with CEO, Neimeth International operating profit of N111.68 million Pharmaceuticals Plc, Matthew by December 2019. The bottom-line Azoji, said the results were turned positive with a net profit evidence that the company had 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.
regained its momentum and steadily growing its market share. He said the company’s medium term strategic plan aims at building on the enviable pedigree of the six decades old company unto a new era of greater achievements for all stakeholders.
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 152.15 155.69 3.40% Afrinvest Plutus Fund 100.00 100.00 6.28% Nigeria International Debt Fund 322.36 322.36 3.04% 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 0.89 0.90 6.33% ACAP Income Funds 0.76 0.76 34.08% 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 6.65% AIICO Balanced Fund 2.46 2.51 0.02% 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 6.38% Anchoria Equity Fund 100.94 101.28 -0.98% Anchoria Fixed Income Fund 1.20 1.20 5.00% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 15.16 15.61 -1.05% ARM Discovery Fund 345.45 355.86 0.00% ARM Ethical Fund 30.03 30.94 3.26% ARM Money Market Fund 1.00 1.00 6.69% 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 98.72 99.41 2.75% AXA Mansard Money Market Fund 1.00 1.00 5.73% 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 1.97 1.97 23.08% 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 0.08 0.06 7.86% Paramount Equity Fund 12.02 12.22 -4.04% Women's Investment Fund 110.48 111.28 -0.02% 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 7.01% Cordros Milestone Fund 2023 103.01 103.58 Cordros Milestone Fund 2028 112.22 112.89 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 5.33% Coronation Balanced Fund 0.94 0.95 1.34% Coronation Fixed Income Fund 1.37 1.37 3.47% 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 6.13% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 5.24% EDC Nigeria Fixed Income Fund 1,197.22 1,198.62 3.00% 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 1,341.20 1,342.39 3.88% FBN Balanced Fund 147.30 148.41 0.33% FBN Money Market Fund 100.00 100.00 6.53% FBN Nigeria Eurobond (USD) Fund - Institutional 120.37 120.66 0.95% FBN Nigeria Eurobond (USD) Fund - Retail 121.08 121.37 1.04% FBN Nigeria Smart Beta Equity Fund 124.50 126.08 -4.33% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 8.56% Legacy Debt Fund 3.69 3.69 1.11% Legacy Equity Fund 1.11 1.13 -1.89% Legacy USD Bond Fund 1.09 1.09 0.65% 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 3,061.94 3,095.76 2.64% Coral Income Fund 3,129.21 3,129.21 14.15% FSDH Treasury Bills Fund 100.00 100.00 7.13% 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 5.67% Nigeria Entertainment Fund 117.60 118.17 10.13%
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 0.00 0.00 0.00% 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 5.75% Vantage Balanced Fund 2.22 2.25 2.97% Vantage Guaranteed Income Fund 1.00 1.00 10.50% Kedari Investment Fund (KIF) 140.46 140.97 12.55% 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 1.19 1.21 2.14% Lotus Halal Fixed Income Fund 1,117.65 1,117.65 1.76% 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 9.41 9.51 -3.96% Meristem Money Market Fund 10.00 10.00 4.12% 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 1.62 1.64 30.63% PACAM Fixed Income Fund 11.35 11.45 1.39% PACAM Money Market Fund 10.00 10.00 7.53% PACAM Equity Fund 1.14 1.15 PACAM EuroBond Fund 103.74 105.61 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 135.07 137.87 8.26% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 1.75% 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 3.77% Stanbic IBTC Bond Fund 210.33 210.33 1.00% Stanbic IBTC Ethical Fund 0.88 0.89 2.81% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 1.41% Stanbic IBTC Iman Fund 154.92 156.64 3.55% Stanbic IBTC Money Market Fund 100.00 100.00 597.00% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 1.77% Stanbic IBTC Dollar Fund (USD) 1.16 1.16 0.91% 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 1.19 1.21 -1.48% United Capital Bond Fund 1.76 1.76 1.66% United Capital Equity Fund 0.68 0.70 -2.97% United Capital Money Market Fund 1.00 1.00 7.07% United Capital Eurobond Fund 113.01 113.0141 1.04% United Capital Wealth for Women Fund 1.08 1.0905 -0.47% 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 10.24 10.39 -0.20% Zenith Ethical Fund 11.61 11.76 0.07% Zenith Income Fund 23.06 23.06 3.76% Zenith Money Market Fund 1.00 1.00 5.01%
REITS NAV Per Share
Yield / T-Rtn
3.45 120.17 52.41
-64.35% 0.90% 0.69%
Bid Price
Offer Price
Yield / T-Rtn
9.02 92.83 72.43
9.12 94.81 73.79
3.56% 0.39% -1.75%
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
3.39 4.69 12.58 11.81 180.54
3.43 4.77 12.68 12.01 182.54
-4.61% -20.52% 3.62% 13.57% -3.94%
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.
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WEDNESDAY FEBRUARY 26, 2020 ˾ T H I S D AY
INTERNATIONAL
Buhari Mourns as Former Egyptian President, Mubarak Dies at 91 President Muhammadu Buhari on Tuesday, condoled the government and people of Egypt over the passing of its former President, Hosni Mubarak. Mubarak died on Tuesday at the age of 91 at a Cairo hospital where he had undergone an unspecified surgery. Buhari, in a condolence message by his Senior Special Assistant on Media and Publicity, Malam Garba Shehu, in Abuja, commiserated with the family, friends, and associates of the deceased, who was also a former military pilot. He noted that the late Mubarak had ruled Egypt for more than 29 years, pursuing peace within the country, and with neighbouring countries, and leaving a legacy of stability and loyalty to the flag. Buhari said as a public servant, Mubarak’s sacrifices for his country, and the continent would always be remembered. Mubarak was Egypt’s president for almost 30 years before he stepped down after a popular
revolution in 2011. He served as Egypt’s fourth president starting in 1981 until his ouster in what became known as the Arab Spring revolution. He was jailed for years after the uprising, but was freed in 2017 after being acquitted of most charges. Mubarak died weeks after undergoing surgery. Aljazeera reports that his brother-in-law, General Mounir Thabet, told AFP news agency, he passed away at Cairo’s Galaa military hospital. Throughout his rule, he was a stalwart US ally, a bullwark against armed groups, and guardian of Egypt’s peace with Israel. But to the tens of thousands of young Egyptians who rallied for 18 days of unprecedented street protests in Cairo’s central Tahrir Square and elsewhere in 2011, Mubarak was a relic, a latter-day pharaoh. Mubarak was born in a rural village in the Nile Delta in 1928. He left behind a complicated legacy as his rule was partly
13 Killed, 15 Injured in India Riots Thirteen people have been killed and more than 150 injured in sectarian violence that erupted in India’s capital New Delhi for the third day, a hospital official said Tuesday. “I can now confirm 13 deaths. At least 150 people have come to
our hospital with injuries,” Guru Teg Bahadur Hospital official Rajesh Kalra told AFP, adding that a dozen people were in critical condition. “We are still receiving some people with injuries, most of them firearm injuries today.”
characterised by corruption, police brutality, political repression, and entrenched economic problems. He joined the Egyptian air force in 1949, graduating as a pilot the following year.
of the AfDB Group and the first Nigerian in the post. During his first term, the Bank’s shareholders approved a landmark $108 billion capital increase in late October. The increase in the capital base, from $93 billion to $208 billion, signaled strong support from the Board of Governors in the continent’s foremost financial institution. Adesina is a renowned development economist who has held a number of highprofile international positions, including with the Rockefeller
The coronavirus epidemic caused more death and disruption on Tuesday, spreading to new countries as a top health official warned the world was “simply not ready” to contain it. Even as the number of fresh cases declines at the epicentre of the disease in China, there has been a sudden increase in parts of Asia, Europe and the Middle East. Entire towns and cities in different parts of the world have been sealed off in an attempt to stop the contagion, while hotels in the Canary Island and Austria were placed under lockdown on Tuesday because of suspected cases. In Iran, which has reported 15 deaths from the disease out of nearly 100 infections, even the country’s deputy health minister Iraj Harirchi said he had contracted the virus. At the World Health Organization (WHO) headquarters in Geneva, Bruce Aylward, who headed up an international expert mission to China, told reporters that other countries were “simply not ready” to rein in the outbreak. “You have to be ready to manage this at a larger scale… and it has to be done fast,” Aylward
Foundation, and as Nigeria’s Minister of Agriculture and Rural Development from 2011 to 2015. The African Union Executive Council comprises 55 ministers of foreign affairs representing the member states of the African Union. In December 2019, the Economic Community of West African States (ECOWAS) also endorsed Adesina for a second term as the Bank chief. The election will again take place at the Bank’s Annual Meetings in May 2020 in Abidjan.
Cameroon Annuls February 9 Polls in Anglophone Regions Cameroon’s constitutional council announced Tuesday it was annulling a legislative election held earlier this month in parts of the country’s conflict-torn Anglophone regions, state television reported. The council said the election would have to be rerun in the Lebialem constituency, a hot spot for violence in the English-speaking South-west region, according to the report. Another vote will also be held in 10 constituencies in the North-west region, which has seen the worst of the violence during the long-running separatist conflict, it added. The two Anglophone regions have been rocked by deadly violence
as armed separatists campaign for independence from the rest of Cameroon, which is majority French-speaking. Separatist fighters had called on people in the two regions not to take part in the municipal and legislative elections on February 9, issuing threats to anyone who planned to vote. One of the two main opposition parties also called for a boycott. For the most, voting passed off peacefully across the country, apart from one incident in North West region. But voter turnout was low across the country, particularly so in the two English-speaking regions, according to the African Union.
substantial blow to Israeli forces in Sinai during the Yom Kippur War. His harsh stance on security enabled him to maintain the peace treaty with Israel. Under his rule, Egypt remained
a key United States ally in the region – receiving $1.3bn a year in US military aid by 2011. Mubarak is survived by his wife, Suzanne, and his sons, Gamal and Alaa.
Coronavirus Spreads to New Countries
AU Endorses Adesina for Second Term as AfDB President The Executive Council of the African Union has endorsed Dr. Akinwumi Adesina’s candidacy for a second term as President of the African Development Bank (AfDB). The decision was taken during the 36th Ordinary Session of the AU Executive Council, held during the AU Summit in Addis Ababa, Ethiopia, recently. Adesina was elected to his first term as President by the Bank’s Board of Governors at its Annual Meetings in Abidjan on May 28, 2015. He is the eighth President
He rose through the ranks to become the commander-in-chief of the Egyptian air force in 1972. Mubarak became a national hero the following year with reports that the Egyptian air force dealt a
The authorities in Cameroon have so far failed to release either official results, or figures for the turnout. Fightingbetweenthetwosides—and reprisal attacks on civilians — have left more than 3,000 dead in the two western regions during the three-year conflict. Tuesday’s announcement from the constitutional council came as the government was put under increasing pressure over the deadly violence in the region. Human Rights Watch on Tuesday accused Cameroon’s armed forces of taking part in the killing of at least 21 civilians on February 14 in a remote part of North West region. The army has denied the accusations.
said, insisting all countries had to “be ready as if this hits us tomorrow”. The virus has killed more than 2,600 people and infected over 77,000 others in China. In the rest of the world, there have been more than 40 deaths and 2,700 cases. Spreading along travel and trade routes, the disease has now reached dozens of countries, with Austria, Croatia and Switzerland becoming the latest additions on Tuesday. The disruption caused by the epidemic has also grown, with stock markets tumbling around the world, restrictions imposed on travellers and sporting events cancelled. The WHO, the UN health agency, has called for countries to “prepare for a potential pandemic” – a term used to describe an epidemic that spreads throughout the world. The WHO has warned that poor countries are particularly at risk and has sent test kits and equipment to parts of the world with weaker health systems, such as Africa. In the Middle East, Iran has emerged as a major hotspot. The death toll rose to 15 on
Tuesday as three more people succumbed to the disease – officially known as COVID-19. The country has been scrambling to contain the epidemic since last week when it announced its first two deaths in Qom, a centre for Islamic studies and pilgrims that attracts scholars from abroad. Gulf countries announced new measures on Tuesday to cut links with Iran in an attempt to stop the spread. The United Arab Emirates suspended passenger and cargo flights to Iran, while Bahrain closed schools and nurseries for two weeks. This came after the Gulf states of Kuwait and Bahrain announced additional cases. South Korean President Moon Jae-in warned that the outbreak was “very grave” as his country’s death toll rose to 10 and the number of confirmed infections approached 1,000 – the largest total outside China. Scores of events have been cancelled or postponed as the outbreak has spread in the world’s 12th-largest economy, from K-pop concerts to the World Team Table Tennis championship.
Parliament closed for cleaning on Tuesday after confirmation that a person with the coronavirus had attended a meeting there last week. More than 80 per cent of the infections have been in and around Daegu, South Korea’s fourth-largest city. Streets there have been largely deserted for days, apart from long queues at the few shops with masks for sale. Most of the country’s infections are linked to the Shincheonji Church of Jesus, an entity often accused of being a cult. In Japan, a fourth former passenger of the coronavirusstricken Diamond Princess cruise ship died, a health ministry official said. The man was in his 80s. Nearly 700 people from the quarantined ship have tested positive for the illness so far. Infections have also spiked inside Japan, with at least 160 cases including one death. The government has expanded the number of hospitals that can receive suspected patients and asked people with moderate symptoms to stay home.
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NEWSEXTRA
Sanwo-Olu, George, Daniel Harp on Decentralisation of Powers Segun James Lagos State Governor, Mr. Babajide Sanwo-Olu; a former National Vice Chairman of the Peoples Democratic Party (PDP), Chief Olabode George and the former Governor of Ogun State, Mr. Gbenga Daniel have harped on the need for the decentralisation of federal powers to make the federal system in the country more effective. Sanwo-Olu who was represented by his deputy, Dr. Obafemi Hamzat at the 3rd Annual Lecture of Freedom Online Newspaper with the theme “Nigeria: Foundation, Fundamentals, Future,” held in Lagos, in his assertion insisted that the decentralisation will offer a fresh impetus on how true federalism can solve the current security challenges bedevilling Nigeria and put the country on the path of accelerated development. According to him, devolving
some exclusive functions of the federal government, including provision of security, would provide instant answer to the current agitations threatening the unity of the country, even as he lamented that the emergence of “beggar-states” as the major constituents of Nigeria’s federation would not take the country to the future it desires in a world that is developing rapidly. He said the flawed federalist ideals enshrined in the 1999 Constitution had continuously limited the power of the states to pursue individual development at their own pace, stressing that Nigeria must holistically address the “fundamental question” of federalism if the political class was serious about lifting the country out of the current quagmire. “One of the legacies of military rule was the abolition of powerful and largely financially independent regional
Abuja Disco Asks Customers to Prepare for 50% Tariff Hike Emmanuel Addeh in Abuja The Abuja Electricity Distribution Company (AEDC) yesterday said with the new billing regime, which is expected to commence soon, electricity consumers would experience an increase of between 35 to 50 percent in their electricity tariffs. The distribution company, which covers Abuja, Niger, Kogi and Nasarawa States, said it would require at least N43 billion investment to ensure steady supply of electricity to the residents of its four coverage states, noting that it had also increased revenue collection to almost N7 billion every month because of the efficient processes it has put in place. Managing Director/Chief Executive Officer of AEDC, Mr. Ernest Mupwaya, explained in an interactive session with journalists in Abuja that it had become increasingly difficult to continue with the drive to install metres in every home because of the 45 percent tariff imposed on imported meters by the federal government. He added that ensuring an efficient metering system remains one of the most viable ways to ensure losses are curtailed in the industry, noting that the company had invested heavily in equipment
and personnel development in the last couple of years. Mupwaya said the current subsidy being paid by the federal government was not sustainable, insisting that without an increase in electricity tariff, the Discos would find it difficult to cope. The company disclosed that it had so far distributed about 250,000 meters, stressing that with the rate the company was going and if the tariff currently harming the importation of meters is reduced, the goal of metering more homes would be achievable. However, he added that to ensure 24-hour power supply, the entire industry must be willing to play their parts by improving on the entire supply chain. “The supply of 24-hour power supply is not entirely in our hands because we are a distribution company. It’s in the domain of the entire industry. The tariffs will go far in improving the entire supply chain. We need at least N43 billion worth of investment to be able to get to where consumers will be satisfied,” he said. The AEDC said massive investment was needed to revamp the energy sector, but noted that investors were scared of coming in because they were not sure of returns on their investment.
DSS Denies Arresting Two Sons of CJN The Department of State Services (DSS) has denied arresting two sons of the Chief Justice of Nigeria, Mr. Sirajo and Mr. Sanni Tanko. The DSS spokesperson, Mr. Peter Afunanya, said, “They were not arrested; we didn’t arrest the two sons of the CJN.” The report said the aide of a former President confirmed that their phones were seized and all call logs, as well as messages were searched. The report claimed one of the
two sons had been released on bail while one was still a guest of the DSS as of Monday morning. The report while quoting the former presidential aide said their arrest was to arm-twist the CJN to reverse the recent Supreme Court judgment on Bayelsa State. “It is part of the schemes to intimidate the Supreme Court to revert the Bayelsa election in favour of the All Progressives Congress (APC),” the reported quoted the former aide.
governments and replacement with weaker entities known as States. These states were, of course, beholden to a very powerful central government that doled out resources to them
and used every opportunity to make it clear that the states were appendages of the centre. “At the time, the regions worked hard, earned their revenues from exports, from
taxes, and so on, and kept a large chunk of what they earned. None of them came to Lagos – the then Federal Capital – with caps in hands for what we now refer to as
‘Federal Allocation’. Every region survived mainly on its internally generated revenue. There was also a healthy competition among the regions.”
CURBING SOCIAL MEDIA WARS…
L-R: Chief Executive Officer, Sterling Bank, Mr. Abubakar Sulaiman; Ace Rapper, Micheal Stephens; Popular broadcaster, Mrs. Gbemisola Olateru-Olagbegi; Chief Marketing Officer of Sterling Bank, Mr Dapo Martins; former Lagos State Police Public Relations Officer (PPRO), Mrs. Dolapo Badmus, and Convener, #EndSARS Campaign, Mr. Segun Awosanya, during Sterling Bank’s panel session at the Social Media Week in Lagos…yesterday
Counter Ownership Claims Stall Forfeiture of $376m Seized from Army General Kingsley Nwezeh in Abuja Justice Ijeoma Ojukwu of the Federal High Court in Abuja has heard claims and counter claims over the ownership of the allegedly stolen $376, 120, which is approximately N136, 155, 440 million, which was up for final forfeiture to the federal government. The court had earlier issued an interim forfeiture order upon an ex-parte application by the Economic and Financial Crimes Commission (EFCC), which required the commission to
publish the order in a national daily with a 14 days window for any person who has interest in the money to show cause. At the resumed hearing last Monday, prosecution counsel, Ekele Iheanacho, told the court that the commission had complied with the order of the court. “We have duly complied with the court order by publishing the interim forfeiture order in Leadership Newspaper, and we have filed affidavit of compliance to that effect,” he said. But counsel to the former
General Officer Commanding (GOC), 8 Division of the Nigerian Army, Sokoto, Maj. Gen. Hakeem Otiki, Olalekan Ojo (SAN), told the court that his client had filed a motion on February 5, 2020, and deposed to an affidavit to show that the alleged money belonged to him, his company and family. The affidavit deposed by one Otiki Kaltume Asabe showed the interested parties in the alleged money as Karama Bureau de Change, Maj. H.O. Otiki, Otiki Kudirat, Otiki Kaltume Asabe, Otiki Zainab, Otiki Abdul and
Danest Nigeria Limited, as first to seventh interested parties. Asabe also claimed in her affidavit that she was a shareholder and a member of Board of Directors of Karama Bureau de Change Limited and Danest Nigeria Limited (1st and 7th interested parties) She also stated that her affidavit had approval of the other interested parties as well as the detailed permission of the 2nd, 3rd, 5th and 6th interested parties, who were fellow shareholders and directors of the first and seventh interested parties.
FG Rakes in over N1bn from Land Rates, Others The federal government said it generated a total of N1.289 billion from ground rents, premiums, consent, registration and penal fees among others between 2017 till date The Director, Lands and Housing Development Department, Federal Ministry of Works and Housing, Mrs. Great-Edereka, disclosed this yesterday at the opening ceremony of the 26th conference of directors of lands in the federal and state ministries departments and agencies in Abuja. She said the conference with the theme: “Land Use Reform as Conflict Resolution Mechanism”,
is aimed at proffering solutions to various land conflicts and management challenges in the country so as to address the disputes and disagreements that often arise between individuals on matters relating to land. Great-Edereka while noting that the department of lands and housing of the ministry on weekly basis chunk out 50 properties being properly titled, said between 2017 till date, they have been able to executive about 3200 Certificates of Occupancy between. “Between 2019 till date, the Minister of Works and Housing has been able to consent 518
secondary transactions and this has helped title holders to improve their economic power,” she said. While emphasising on the need to key into the systematic land titling process, the director said the system would allow all owners of lands in the country to be titled so as enable them secure loans with their properties. Earlier, the Minister of State, Ministry of Works and Housing, Mr. Abubakar Aliyu, assured that the ministry will continue to play its primary role in providing enabling environment for private sector participation in housing delivery.
He urged all state government officials and other relevant stakeholders to continue to cooperate with the Presidential Technical Committee on Land Reform (PTCLR) to ensure the adoption and implementation of Systematic Land Titling and Registration (SLTR) in all of the 36 States and the Federal Capital Territory. He said the ministry will soon embark on full automation of Certificate of Occupancy issuance in the Land Department in order to address the ease and cost of property registration.
Ultimate Love Now Available on DStv Family, Access, GOtv Plus MultiChoice Nigeria is treating customers on its DStv Family, Access and GOtv Plus packages to a one-week Open Window to enjoy the latest reality TV show, Ultimate Love at no extra cost. Customers with active subscriptions on DStv Family, Access and GOtv Plus will get the chance to join in on
the excitement, witness the unpredictable twists and enjoy the captivating highlights the show has to offer. These include: Aunty’s One-onOne sessions, Couples’ Master Classes, Friday Night party, the live Sunday Nominations and Check-Out shows on DStv channel 198 and GOtv channel 29.
Chief Customer Officer, MultiChoice Nigeria, Mr. Martin Mabutho said: “We are pleased at the success of Ultimate Love with viewers in just a short time. For this reason, we are making the show available to customers on DStv Family, Access and GOtv Plus for a limited period only. Customers on these packages can reconnect to enjoy this new
and exciting show that celebrates love and culture” “From time to time we make certain content on higher packages accessible to our customers on lower packages. We do this to provide more value whilst enriching their entertainment experience on DStv and GOtv,” Mabutho added. .
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Anxiety in Bayelsa as Supreme Court Reviews Judgment Today Onungwe Obe in Yenagoa Anxiety pervaded Bayelsa State yesterday as residents await the review of the Supreme Court’s judgment that sacked the candidates of the Progressives Congress (APC), Chief David Lyon and Senator Degi Erimienyo as governor-elect and deputy governor-elect, investigations have revealed. Residents who gathered in groups at different places in Yenagoa, were seen discussing the impending review, its possible outcome and impact on public law and order. The apex court on February 13, a day to Lyon’s inauguration as the governor
of the state, ha delivered a judgment that returned Senator Douye Diri of the Peoples Democratic Party (PDP) as the governor of the state. Members of the APC took to the streets of Yenagoa in a protest that degenerated into violence. Suspected supporters of the ruling party were also accused of protesting at the Abuja residence of Justice Mary Odili who headed the apex court’s panel that delivered the judgment. However, the leaders of the party have denied having a hand in the protest. However, following PDP’s protests and demand for a review of the Supreme Court judgment that sacked Hon.
Emeka Ihedioha as Imo State governor, the APC had taken a cue from that to approach the apex court to review the Bayelsa judgment. As both parties await the outcome of the review, tension has enveloped the state. It was gathered that the governor, was in Abuja to attend a valedictory session organised for him by the Senate and might stay back to monitor development. Many PDP leaders in Bayelsa were also said to be in Abuja to witness the review. Expectations were high in both the camps of APC and the
PDP on where the pendulum would swing. To the members of the PDP, Diri would remain the governor as the review would end up as an academic exercise. To the APC camp, the review would either restore the mandate of Lyon or make a fresh consequential order for a new election, which could involve Lyon and the APC. Meanwhile, the Ijaw Youths Council (IYC) Worldwide has raised the alarm over what it described as a plot to unleash violence on the state ahead of the review.
The IYC said politicians were plotting to cause chaos, including coordinated attacks on oil installations in the state against the overall interest of the Ijaw nation. The IYC in a statement by its Secretary-General, Mr. Alfred Kemepado, warned against the plot and urged persons involved in it to sheathe their swords and give peace a chance. Kemepado asked persons angry at the twist in the state to explore legal or political means to address their grievances. He said instead of planning violence, aggrieved persons
should follow democratic procedures to ensure peace and stability in the interest of the Ijaw nation. Kemepado also called on security agencies to be at the alert to forestall any attack. He appealed to the governor to accommodate all Ijaw people in and outside Bayelsa state irrespective of their political persuasions. Kemepado further called on all Ijaw people, especially in Bayelsa, to cooperate with the new government in the task of building the state, which is the only homogeneous Ijaw state in the country.
FG UNVEILS ADAMAWA, NASARAWA, PLATEAU FOR PILOT SCHEME TO CHECK FARMERS, HERDERS’ CLASHES He added that the principle remained the execution of the programme in accordance with the consent of the people. The governor added that the programme would help in resolving protracted conflicts between farmers and herders. According to him, if the idea of grazing reserves is re-introduced, particularly in the North, farmersherders’ conflicts would subside and the move would conform to the modern way of cattle rearing. “In this programme, you are going to have some farmers that are within the grazing reserves doing their farming and the herders also doing theirs. Of course, there is going to be a demarcation. “The emphasis still remains that it is the willing states. Even if you have grazing reserves like some states in the North and the state is not willing to key into it, it is not compulsory. “The expectation is that we have clear mandates. One is that this programme is going to resolve to a very large extent the farmers-herders conflict. “So, if we revive some of the grazing reserves, especially in the North, for willing states, we are going to see this conflict come down and then also a modern way of cow rearing for greater benefits. These are things we expect to see,” Umahi added. The sub-committee is expected to present the report on the latest development to NEC tomorrow at its monthly meeting in Abuja. Umahi, at an earlier briefing of State House reporters in Abuja last year, had allayed fears that non-Nigerian herdsmen would participate in the programme. He had explained that movement of cattle would not be allowed without registration and monitoring. On how the N100 billion budgetary allocation would be sourced, the government had explained that the federal government would provide N80 billion while participating states would contribute the balance of N20 billion. “The plan has six pillars through which it aims to transform the livestock production system in Nigeria along market oriented value chain while ensuring an atmosphere of peace and justice.
“The six key pillars include: economic develop (investment), conflict resolution, justice and peace, humanitarian relief and early recovery (that is to IDPs), human capital development and cross-cutting issues such as gender, youth, research and information and strategic communication,” he had stated. Osinbajo, in September 2019, had inaugurated the National Livestock Transformation Plan at the Gongoshi Grazing Reserve in Mayo-Belwa Local Government Area of Adamawa. The vice president had said during the inauguration that the plan was designed to run from 2019-2028 as part of the federal government’s initiative, in collaboration with states, to find a permanent solution to the recurring farmers, herders’ clashes. “In this plan, the state government or private investors provide the land, the federal government does not and will not take any land from a state or local government. “Any participating state will provide the land and its own contribution to the project. The federal government merely supports. “It is a plan that hopes to birth tailor-made ranches where cattle are bred, and meat and dairy products are produced using modern livestock breeding and dairy methods. “This solves the problem of cattle grazing into and destroying farmlands. It ensures a practical response to the pressures on water and pasture by forces of climate change,” Osinbajo had stated. According to Osinbajo, the unique feature of the plan is that any participating state will determine its own model. “I wish to emphasise that this is not RUGA. Because the idea of RUGA settlements launched by the Ministry of Agriculture created a problem when it was perceived as a plan to seize lands to create settlements for herders. “RUGA was not the plan designed and approved by the governors and the president rightly suspended the implementation,” Osinbajo had said.
IMPROVING HEALTHCARE DELIVERY…
L-R: Official of the American International Healthcare lnc., Prof. Uchenna Nwaneri; and Imo State Governor, Senator Hope Uzodinma, after Nwaneri submitted the Strategic Plan to Revitalise the Imo State healthcare sector to the governor at the Government House, Owerri… yesterday
HOUSE RESTATES CALLS FOR RESIGNATION OF SERVICE CHIEFS “You must not live in your comfort zone while your constituents are dying. For how long shall we be repelling attacks in this country? My people voted for me under duress because they had been sending messages of attacks. “Honourable members, the service chiefs are out of ideas completely. We know this, Mr. Speaker; it is better to do something to save Nigerians. As far as I am concerned, our people are dying and I am not comfortable with that,” he said. Jaha added that if this insecurity persists, he will resign. Also, the Chairman, House Committee on Defence, Hon. Babajimi Benson, traced the root of insecurity in the country to institutional failures. Speaking exclusively to THISDAY, the lawmaker described Nigeria as under policed, saying that more recruitment and inventory are needed as soon as possible. According to him, “The population of Nigeria is approximately 200 million and we cannot boast 400,000 policemen. We need to ramp up on our recruitment; we need to ramp up on inventory like guns, ammunition and we need it as soon as possible so that we can end this war in the shortest possible time. It’s embarrassing it has lasted for over ten years. All hands need to on deck so that we can wipe out this insurgency.”
CAS Directs More Assault Helicopters to Niger Meanwhile, following the escalation in attacks by bandits in villagers in Niger State, Abubakar has directed that more assault helicopters and medical personnel be immediately deployed in the troubled communities. He said NAF medical personnel would also give free medical treatment to victims of banditry presently at IDPs camps in the state. The Chief of Air Staff gave the directive in Minna, the Niger State capital, yesterday when he paid a courtesy visit on the state Governor, Alhaji Abubakar Sani Bello, after assessing the progress of the ongoing air operation in the state. He said more troops would be deployed in the state to complement the efforts of those on the ground. Exchanging views with some journalists, Abubakar assured them that the war against Boko Haram, kidnapping and banditry will soon be over. “The Nigerian Air Force is working closely with other security agencies under the directives of the president to ensure that banditry is brought under control. “I am here to assess what we are doing in terms of air operation to support the ground troops to ensure that the challenges we are
facing here in Niger state and other parts of the country is addressed. “I have taken the assessment of the progress so far and I have seen that we have enough logistics, we have enough aviation fuel brought from our strategic reserves and in the next few days, we will deploy more helicopters to give more supports to the ground troops. “With additional personnel to support the ground troops, we should be able to substantially reduce this crisis that we are having.” Earlier, Bello had told the Chief of Air Staff that the last three months had been challenging to the state government and the people following the activities of the bandits. Bello, however, assured the CAS that the state government will support all security agencies in the fight against banditry. He commended the NAF for its commitment in the fight against banditry in the state. On his part, Masari has admonished Islamic clerics and traditional rulers to shun inflammatory utterances capable of disrupting his administration’s efforts to end banditry and kidnapping. He said an atmosphere of bitterness and rancour, caused by inflammatory comments, would not foster the kind of development, which citizens of the state are yearning for. Masari, who spoke during a
two-day training for imams, organised by the Katsina State chapter of the Jama’atu Nasril Islam (JNI), said if the clergies could centre their sermons on peace as enshrined in the Qur’an, rivalry, violence and drug abuse among the citizenry would be averted. He said: “The biggest problem is that those who have the religion don’t even know it and all the forests that we have in the state are occupied by them and they call themselves Muslims. “And most of the imams are the ones entering these remote villages to perform wedding and naming ceremonies for them. Therefore, imams and traditional rulers did not do what is expected of them. “Surprisingly, most of the imams don’t even know what they are preaching during Friday sermons. They don’t deliver message where it is expected of them. If they are taking messages to where is suppose to, the problem of drug and other substances abuse wouldn’t have been rampant in this country”. The Emir of Katsina, Dr. Abdulmumini Kabir Usman, challenged the religious leaders to avoid tendentious and partisanship sermons in order to ensure harmonious co-existence in the state. According to him, lack of unity and religious tolerance is fuelling banditry, kidnapping and insurgency bedeviling the North.
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Military Power Alone Can’t Defeat Boko Haram, Says Buratai Dike Onwuamaeze The Chief of Army Staff (COAS), Lt. General Tukur Buratai, has declared that the war against Boko Haram could not be won by military might alone due to series of indoctrination that have been carried out in the north for more than two decades. Buratai said that only 25 per cent of the war falls within the ambit of the military.
The rest, according to him, is for the civil populace to handle. He made these declarations yesterday in Lagos during the 2020 Lagos Chamber of Commerce and Industry (LCCI) Security Meets Business Dialogue. Buratai stated that: “We are fighting the mind. So, can the military fight the mind of the people? That is not the job of the military. Psychological operation is government- driven. Facility to
reach the minds of the people is within the precinct of the governments. Does military have control over religious leaders that preach hate? There is lot of mundane issues that culminated to this problem. And unfortunately, we do not look at these little things that really matter. You see religious leaders addressing congregation violently
on social media to instigate violence against other people.” He urged Nigerians to own the military and other security agencies and support them with information to enable them win the fight against Boko Haram. He also debunked the insinuation that there was no synergy between the security agencies in the fight against
mounting insecurity facing the country. “It is easy to sit in our rooms and make conjectures even though we are not on the ground. In 2013 the international community issued a warning that foreigners should not go beyond Lagos. But starting in October 2015 they started coming. Can this
be achieved without synergy?” he asked. Buratai also regretted that the country failed to develop the “Ogbunigwe” that was invented by Biafra during the Nigerian civil war and lamented that Nigeria’s allies were denying the country strategic military supplies needed to combat insurgency.
Edo Police Arrest Kidnap Kingpin Adibe Emenyonu in Benin City Anti-Kidnapping Squad of Edo State Police Command has arrested the leader of a kidnap gang that allegedly abducted Mr. Andy Ehanire of Ogba Zoological Garden in Benin City. The victim, a blood brother of the Minister of Health, Dr. Osagie Ehanire, was kidnapped on September 24, 2017, an incident which led to the death of three policemen who were on guard at the garden. The 48-year-old prime suspect identified as Lucky Asaba Alebi was arrested in his hideout in Sapele, Delta State. Report said the suspect and his gang members that were earlier arrested by the police had stormed Ogba Zoo in Benin City around 5.00 p.m with an Audi 80 car. The heavily armed hoodlums who be-friended the three policemen on duty bought some drinks for them and they interacted freely, but unknown to the policemen the suspects came with the main purpose of killing them. During the drinking process, the hoodlums brought out their AK47 riffles and killed the three
policemen on the spot. The three policemen killed were: Inspector Henry Eguaoba, Sgt. Christopher Omoregie and Sgt Igbinoba Stephen, all from Airport Police Division in Benin City. Alebi immediately ran after Andy Ehanire, who upon hearing gunshots, wanted to escape. He was later held, dispossessed of his revolver pistol and dragged into the waiting Audi 80 car after the hoodlums shot sporadically into the air and drove to Ogba river bank where a speed boat was already waiting to ferry them away. During the escape, the hoodlums burnt down their own car to avoid any trace and took their victim through Ologbo River to Ogbogolo River side in Warri, Delta sSate where ransom negotiation was later opened. The report added that thousands of dollars equivalent to N65 million was collected by the hoodlums as ransom, but a gang member who collected the money played a fast one on his gang members when he declared N42 million as the amount he collected from the family.
Shehu Sani: EFCC Presents Beneficiaries of Bank Lodgments from Sani Dauda Kingsley Nwezeh in Abuja The Economic and Financial Crimes Commission (EFCC) yesterday presented two witnesses before Justice I.E Ekwo of the Federal High Court in Abuja against the former senator, representing Kaduna North senatorial district, Shehu Sani. The EFCC is prosecuting Sani on a two-count criminal charge bordering on intent to defraud and obtain the sum of $10,000.00 from one Alhaji Sani Dauda, under the false pretence that the money was meant to bribe the acting Chairman of the EFCC, Ibrahim Magu, to arrest and prosecute one Abubakar Musa. At the resumed trial, prosecuting counsel, Abba Mohammed, presented two witness-Beckley Ojo and Elizabeth Muka-who are compliance officers of Guaranty Trust Bank (GTB). Ojo, who is the first prosecution witness (PW1), told the court that he personally generated the statement of the beneficiary’s
account and forwarded it to the EFCC. He further explained that the name of the beneficiary from the covering letter who received the sum of N3.5million from Sani Dauda is Shareef Zailani Shanono. According to him, the GTB cheque issued by Dauda was an instruction to transfer the sum of N3.5 million to Shanono. In the same vein, second prosecution witness (PW2), Muka, revealed that there was a transfer of N5million on November 20, 2019, which was carried out from the account of Dauda to one Abubakar Ahmed, adding that there was another N3million also transferred to Shanono. She further told the court that on January 23, 2020, she gathered the account opening documents, a cover memo and other documents and sent them to the EFCC as the commission requested. Justice Ekwo, however, adjourned the matter till February 26, 2020, for continuation of trial.
PRESENTATION OF SOUVENIRS…
L-R: Director General, Nigerian Tourism Development Corporation (NTDC), Mr. Folorunso Coker; and Minister of Information and Culture, Alhaji Lai Mohammed, during the minister’s working visit to the parastatal in Abuja...yesterday .
Consumers Reject Eko Disco’s Conditions for Improved Power Supply Peter Uzoho Electricity consumers under the network of Eko Electricity Distribution Company (EKEDC) have objected the conditions put forward by the firm which it said must be met before efficiency and improved power supply could be guaranteed. The consumers expressed their displeasure and reservations yesterday in Lagos during the public hearing on Eko Disco’s application to the Nigerian Electricity Regulatory Commission (NERC) for “Extra-Ordinary Tariff Review Pursuant to the NERC Regulations on the Procedure for Electricity Tariff Review.” EKEDC had in its submission presented at the meeting by its
Head of Power Procurement Regulation, Mr. Nosa Igbinedion, requested for an increase in electricity tariff from the current N28.28kwh to N42.41kwh. The firm also requested for an approval by NERC for it to have Bilateral Contracts and Embedded Generation Programme; permission to have Premium Tariff Class with Service Line Agreement (SLA) of 90 per cent availability; and Extra Capex from third party investors for building of networks, among others. EKEDC’s requests, however, angered the consumers when it argued that tariff increment would give the firm the opportunity to make more money which in turn would lead to efficiency and
improved electricity supply to its customers and by extension lead to tariff reduction. Reacting to the proposals by EKEDC in defence of the consumers, the Chief Executive Officer, Federal Competition and Consumers’ Protection Commission (FCCPC), Mr. Babatunde Irukera, said such proposals were meant to add to the burdens of consumers. Irukera also criticised EKEDC for failing to address the issue of metering, pointing out that a lot of the customers were still unmetered while it was complaining of low revenue. He countered EKEDC’s position that efficiency would be guaranteed when tariff increased,
saying increase in tariff would not necessarily lead to efficiency and improved power supply. He said: “We all agree that efficiency continues to be a problem and the position we have taken so far is that distribution companies seek to transfer the government subsidy to consumer subsidies, and that is inappropriate. “There are three main reasons the distribution companies including EKEDC and particularly EKEDC had repeatedly articulated: One, low tariff; two, energy theft, and three, metering. It seems to me that the broad presentation that we have heard only addressed one, which is low tariff. If you are going to promote efficiency the only way to promote it certainly cannot be increasing tariffs.
Unaudited Accounts: House Places NIMASA on Full Status Enquiry Adedayo Akinwale and Udora Orizu in Abuja The House of Representative Committee on Public Accounts yesterday placed the Nigerian Maritime Administration and Safety Agency (NIMASA) on full status enquiry over nonsubmission of audited accounts from 2015 to 2018 to the Office of the Auditor General of the Federation. The committee at the continued hearing of the “Deliberate and Reckless Refusal By Non-Treasury and Partially Funded Agencies” to render their audited accounts from 2014 to 2018” also summoned
the Minister of Finance, Zainab Ahmed, over the unaudited accounts of the Nigerian Deposit Insurance Corporation (NDIC). It would be recalled that last week the committee had summoned the Minister of State for Transportation, Gbemi Saraki, to explain the continued disregard of the invitation of the committee by NIMASA Director General, Dakuku Peterside. Saraki when asked the reason for the non–submission of the audited accounts of the agency, appealed to the committee to give NIMASA management team an opportunity to appear before it and explain what’s going on.
She, however, concurred that the agency should be placed on status enquiry, adding that the agency’s behaviour was totally unacceptable, NIMASA Executive Director, Finance and Accounts, Bashir Jamiu, when queried told the committee that the agency did not have a management account from 2012, hence could not generate audited accounts for a number of years. “We cannot submit an audit from when we started. We must get the closing balance as at the last time we submitted the audit,” he said. When asked if he was saying
that NIMASA did not have the balances to carry on with subsequent years, Jamiu affirmed that the organisation did not have such balances. Responding, the Committee Chairman, Hon. Oluwole Oke, said that it’s very embarrassing for an agency like NIMASA not to have a management account from 2012 to 2018. The members of the committee then resolved that the agency be subjected to full status enquiry. Oke told Saraki that the exercise would expose any inadequacy in NIMASA’s books for the benefit of everyone.
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Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY
ITTF AFRICA CUP
Aruna Quadri, Offiong Edem Hit Finals in Tunisia Battle for Tokyo 2020 tickets to begin Thursday
Duro Ikhazuagbe Team Nigeria’s push to get several of her compatriots to qualify for the 2020 Olympic Games in Tokyo, Japan was boosted yesterday with the qualifications of both Aruna Quadri and Offiong Edem for the finals of the men and women’s singles of the ongoing ITTF Africa Cup in Tunisia. Although not an Olympic qualifying tournament, Aruna was in his element as he fought back from two sets deficit to claim a 4-3 semi-final victory (5-11,611,11-4,14-12,7-11,11-5,12-10) over Omar Assar of Egypt to reach the final.
Offiong on the other hand also secured a place in the final to face Africa’s foremost female player Dina Meshref also of Egypt. She defeated favourite Helmy Yousra a 4-2 (6-11,1416,11-811-7,11-7,11-6) to set up the mouthwatering clash with Meshref. To reach the semi finals, Offiong’s 4-1 (11-8, 7-11, 11-5, 11-8, 11-6) defeat of Fadwa Garcii in one of the quarter finals of the tournament was least expected. The 33-year old Nigerian who has won bronze at the last two editions of the event, began with an 8-11, 11-9, 11-7, 11-6 win over Tunisia’s Safa Saidani.
Her quarter-final place was secured with an 11-3, 8-11, 11-3, 11-7 win over South Africa’s Simeen Mookrey. Aruna Quadri who is a twotimes champion had recorded wins on the opening day as he seeks to improve on his runner-
up finish at the past two editions of the event. Before earning a quarterfinal triumph, the Nigerian star won in straight games against Tunisia’s Adam Hmam 11-5, 14-12, 11-4, followed by a dominant 11-2, 11-9, 11-2 triumph over Algeria’s
Sami Kherouf in Group 1. For Omotayo Olajide, he was bounced out after being unable to survive highflying Egyptian Omar Assar in the quarterfinal of the competition. Meanwhile, battles for places in the table tennis event of Tokyo
2020 will start tomorrow, February 27 through February 29. Top four players in men and women singles will qualify for Tokyo 2020 while winners in mixed doubles will represent Africa at the Games in Japan.
We Will Make Tyson v Joshua Happen, Says Frank Warren Tyson Fury’s promoter Frank Warren has said if fans want to see a unification fight with Anthony Joshua “we will make it happen”. The British heavyweights now hold all of the division’s belts between them, after Fury, 31, beat Deontay Wilder, 34, to claim the WBC title. Joshua’s promoter Eddie Hearn said “let’s give the fans what they want”. “Of course we want to see the fight,” Warren told BBC Sport. “We’ve been trying to make it for two years.” “Hearn kept saying was it’s got to be 70/30 (the purse) in favour of AJ and so on and so forth. “The tables have turned now. I have no problem with 50/50. I think Tyson would deserve more but 50/50, no problem. “This is about the boxers and more importantly the fans. If they want to see the fight we will make it happen. “In the meantime, Eddie Hearn
is acting like the guy standing outside your house with his nose pressed up against the window and keeps spouting off about Tyson.” The immediate prospect of the fight hinges on the fact Wilder has the option of a rematch with Fury and has 30 days to invoke a clause in his contract. Hearn says if that happens then Joshua, 30, will face Kubrat Pulev in a mandatory IBF bout, with the promoter in talks to hold the fight at Tottenham Hotspur Stadium on 20 June. Hearn told BBC Radio 5 Live yesterday: “The fight we want more than anything is the undisputed fight. The person that holds the key to that is Tyson Fury. If we can get that next we are all in on that fight. “I think 50/50 is a very straightforward deal. Frank’s going to have his views but it’s a pretty straightforward deal. Joshua is the bigger commercial draw.”
Zenera Golfer, Eze, Makes Pro Debut After years of training, consistency and dedication, Zenera Consulting’s protégé on the golf scene, Monday Eze, has officially joined the league of professional golfers in Nigeria. Eze, who has been under the mentorship and sponsorship of the branding and advertising firm, was last Friday, February 21, 2020, formally inducted into the Professional Golfers Association of Nigeria after emerging victorious in the Qualifying Exams. For four years, the organisation invested in Eze through several trainings to London, Kenya and other countries. Zenera also sponsored him to competitions as an amateur Speaking shortly after his induction into the Pro rank, Eze expressed his appreciation to the entire Zenera team and their support so far. “A player may be good at what he does but if no one believes in him, his success makes no difference. Zenera Consulting through the leadership of Meka Olowola has been my pillar of support, throwing their weight behind my career all these years and trusting my ability to deliver. I am happy to make pro rank
and happier that this feat makes Zenera proud of me. With this endorsement, I look forward to more winnings and more success stories,” stressed Eze. On the poor appreciation of golf in Nigeria, the Managing Partner of Zenera Consulting, Meka Olowola who is an avid golfer and a member of the Ikoyi Golf Club noted that, “Golfing in Nigeria is still not as developed as it should be. Its challenges range from inadequate facilities, poor funding and low awareness of the game. “In addition to education and youth development, we have also elected to support the beautiful game of golf and we are therefore glad and fulfilled that our premiere protégé has reached this milestone in his career.” The Zenera CEO expressed appreciation to members of Ikoyi Golf Club, Lakowe Golf Club, Concierge Spot, friends in London and Kenya and others who were instrumental to Eze’s success, noting that if all young talents got support like this, the country would be thronged and bursting with professionals who can represent her well in world competitions.
Aruna Quadri (left) and Offiong Edem yesterday qualified for the finals of the singles events of the ongoing ITTF Africa Cup in Tunisia
AFN Petitions Police, Wants Gusau Probed over PUMA Deal The Athletics Federation of Nigeria (AFN) has dragged its impeached President Shehu Ibrahim Gusau to the police for criminal investigation of the deal signed with sportswear manufacturer, PUMA, in July 2019. The petition, addressed to the Inspector General of Police Mohammed Adamu and signed by its Secretary General, Prince Adisa Beyioku, accused Gusau who was president of AFN at the time of signing the deal with PUMA without the knowledge and approval of the board of the federation. AFN said that signing the deal without the knowledge of the Secretary General contravenes article 8.7.2 of
the AFN constitution to wit articles 4.4.2,4.4.3 and 4.4.4 of the National Sports Federations Code of Governance 2017 recognised by the AFN constitution. Gusau and Sunday Adeleye, the then Technical Director of the AFN signed the deal on behalf of the federation without the knowledge and signature of the Secretary General who is its Chief Administrative and Chief Accounting Officer (article 4.4.2 of the National Sports Federations Code of Governance 2017) and who must be privy to all decisions of the AFN (article 4.4.4 of the National Sports Federations Code of Governance 2017). The AFN also accused its former president of nominating
a private bank account, Dynamic Sporting Solutions allegedly owned by Sunday Adeleye to warehouse payments made by PUMA on behalf of the federation, a clear breach of not only the AFN constitution which makes the Secretary General the ‘A’ signatory to the federation’s bank account but also Nigeria’s extant laws. The contract for the PUMA deal is neither in the files at the Secretariat of the AFN at the Moshood Abiola Stadium in Abuja nor in the custody of the Secretary General who is legally recognised as the custodian of AFN’s documents, records and properties. The AFN attached to the petition a copy of a February
13, 2020 letter received from PUMA which revealed some details of the contract and wants a full investigation launched by the Police. The AFN also attached to the petition amongst others report of its investigative committee which turned in a comprehensive report of criminal misappropriation of the federation’s funds by Gusau which led to partial or non-payment of allowances to athletes despite budgetary approval and release of corresponding funds. ‘We specifically request that Ibrahim Gusau be investigated for criminal liability based on evidence from the illegal PUMA deal,’ wrote the AFN in the petition.
Dolphin Senior High School Wins Sahara Group’s Chess Competition
Dolphin Senior High School in Lagos has emerged winners of Sahara Group’s #CleanLoveFeb Chess Competition which was organized as part of the energy conglomerate’s ongoing campaign against substance abuse, especially among young people. The competition featured two players each from four government owned schools including Dolphin Senior High School, Boys’ Senior Academy, Girls’ Senior Academy and Ebute Elefun Senior High School, all located within Lagos Island. The chess tourney, according to Bethel Obioma, Head, Corporate Communications, Sahara Group, was designed to serve as a platform to inspire young people to look to sports, books and educative
web portals for recreation and academic excellence. “Chess is a game that stimulates mental alertness and critical thinking. We chose public secondary schools to encourage the students to aspire to challenging for laurels in a game that is considered elitist. The competition also served the purpose of creating awareness on the dangers of substance abuse and inspiring these young future leaders to channel their energies into activities that will help them realise their dreams,” he said. At the preliminary stage which held on Wednesday, February 19, 2020, the four schools competed intensely and played skillfully for over four hours before Dolphin Senior High School and Boys’ Senior Academy made it to the finals.
The finals featured four students from the two schools. Odusanya Isaac of Dolphin Senior High School competed against Olabode Quadri of Boys Senior Academy, while Lediju Abul-Lateef of Dolphin Senior High School played against Amoo Mubarak of Boys’ Senior Academy. At the end of the competition, both contestants from Dolphin Senior High School outplayed their opponents to emerge as the overall winners of Sahara Group’s #CleanLoveFeb chess competition. Lejidu Abdul-Lateef went on to checkmate his way to claim the coveted Best Player of the Tournament Award. The elated Abdul-Lateef said: “This is a very happy moment for me, and I am proud of what I have achieved. I also
learned a lot from the session we had about substance abuse when Sahara Group brought a Psychiatrist, Dr. Tunde Fadipe to tell us more about saying no to substance abuse in any form. I hope to keep learning and playing the game and possibly end up as a grand master someday.” All finalists were rewarded with prizes including books, Sahara corporate souvenirs and chess sets to the schools to encourage the cultivation of the chess-playing culture. The competition which was implemented through Sahara’s Personal and Corporate Social Responsibility vehicle, Sahara Foundation, enlisted the support of the INVENT Programme, a mentoring platform for in- school youth.
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WEDNESDAYSPORTS U E FA C H A M P I O N S L E AG U E
City Target Role Reversal against Real Madrid Tonight Lyon lay ambush for Juventus and Ronaldo Manchester City will be up against both Real Madrid and their reputation this night as the UEFA Champions League’s biggest winners play one of its biggest underachievers at the Santiago Bernabeu. Elsewhere, Lyon will host Cristiano Ronaldo and the Italian giants, Juventus in the first leg of their last-16 tie. After City’s win over Leicester on Saturday, Pep Guardiola said: “We will try to be ourselves. We can win and we can lose but we must try to be ourselves.” Yet in some ways, City will seek a role reversal too. Madrid’s record is the envy of Europe but in particular by teams like City, whose financial might and technical talent has translated only into disappointment outside domestic competition. In the time City have won three Premier League titles and five domestic cups, they have gone past the Champions League’s quarterfinals only once, reaching the last four in 2016, only to be beaten by Madrid. Zinedine Zidane’s side, meanwhile, have surrendered dominance in La Liga to Barcelona but made amends for one Spanish league title in seven years by winning four Champions Leagues out of the last six. Few would argue that quality explains the difference. Madrid’s success has certainly been due in part to the brilliance of Cristiano Ronaldo but City have perhaps boasted an even better all-round collection of players and their excellence in England points to
a club well-equipped to excel in Europe. Guardiola has been accused of over-thinking against elite opposition too yet City’s lethargy encompasses nine seasons in the Champions League and Guardiola has only been in charge for three. Instead, Madrid’s habit for coming through the kind of crunch games that have so often proved City’s undoing suggests each club’s identification with the Champions League has become something of a selffulfilling prophecy. Madrid believe this tournament is their tournament, a conviction based on historic success that makes them assured under pressure and ruthless in the decisive moments. “When you have a history of the (Alfredo) Di Stefano period, winning five or six European Cups at that time, it means a new player that comes to Real Madrid and puts on that shirt knows ‘we have to defend our history’,” said Guardiola. “That gives them a boost because they live that history.” When Madrid last won the Champions League by beating Liverpool in the final in 2018, their advance to the trophy seemed to rely on a number of crucial interventions falling their way. In the semifinal against Bayern Munich, they progressed after an error from Bayern’s goalkeeper Sven Ulreich. In the quarters, they were awarded a fortuitous 97th-minute penalty to beat Juventus. Even in the last 16, they faced a Paris
Manchester City players at training ahead of their UEFA Champions League Round of 16 clash with Real Madrid tonight
Saint-Germain side without the injured Neymar. Yet where some saw luck, Madrid’s coach and their players saw a refusal to give in. “The point is Madrid never give up,” said Zidane after their last-gasp triumph over Juventus. “We came up against a number of obstacles but we believe in the goals we want to achieve and we achieve them because we fight.” For City, that refusal to accept defeat is still to be established and with every year that victory evades them, doubts grow too. “It’s a real, real test,” said
Manchester United’s Revenue Drops by Nearly 12% Third behind Barcelona, Real Madrid in Football Money League Manchester United’s revenue fell by nearly 12% in the six months to December, largely because of the club’s absence from the UEFA Champions League. Broadcasting revenue fell by 33.4% over the period, although commercial revenue rose by 6.5% and match-day revenue remained largely the same. For 2020, the club expects its total revenue to be between £560m and £580m. Ed Woodward, the team’s executive vice-chairman, said the team had made “progress
on our squad rebuild”. He added that the players the club had signed and others who had come through its academy had put in place “the foundation for delivering the long-term success that we are all working towards”. The club’s total revenue for the six-month period was £303.8m. The drop in broadcasting figures was not a surprise, given the club’s absence from the Champions League. However, Mr. Woodward hopes that will be put right next
season, adding: “We are pushing for a strong finish in the Premier League, the Europa League and the FA Cup as we enter the final third of the season.” For the year to July 2019, the club announced a record revenue figure of £627m - a figure that saw it drop to third, behind Barcelona and Real Madrid, in the annual Deloitte’s Football Money League. The club’s figures also revealed a rise in the number of employees at the end of last year to 979 from 937 the previous year.
Guardiola. “The king of this competition against a team who are not used to playing this kind of game much, because our best performance was one semifinal in our history. “So, in a marvelous stadium we have to show our personality.” Personality to Guardiola means a certain style as well as attitude but to Madrid, the objective is more straightforward. “At Real Madrid, every season, you have to go for everything and win everything,” said Zidane last summer. “And more importantly, we believe we can do it.” Elsewhere tonight, Lyon goalkeeper, Anthony Lopes, knows how big a job he faces keeping his Portuguese international colleague quiet
when the French side face Juventus in the Champions League tonight. “I have been lucky enough to play alongside him. He is the captain and an extraordinary personality, a great man,” Lopes told AFP when asked about playing with Ronaldo. Lopes, 29, was born near Lyon and has spent his entire club career there. But thanks to his Portuguese roots he has won seven caps and been to two major tournaments with Ronaldo, including Euro 2016 which Portugal won. “I have gone to major tournaments with him, the Euro and the World Cup, where you have to develop links to those around you, and to do what he does every day is quite incredible,” Lopes added.
“Players today take great inspiration from him.” Lyon are massive underdogs against a Juve side in a hurry for Champions League success given the massive investment they made in Ronaldo, who recently turned 35. Last year it was Lionel Messi who put Lyon to the sword at this stage, scoring twice as Barcelona won 5-1 in the second leg after a goalless draw in France. “When you play Barca or Juve, the danger comes from everywhere,” Lopes said, adding: “All eyes will be on Ronaldo, especially in the stands.”
TODAY (9PM) Real Madrid v Man City Lyon v Juventus
Ministry Names Nilayo Official Marketer for Team Nigeria to 2020 Olympics In line with its resolve to encourage public private partnership and turning sports into a viable business, the Federal Ministry of Youth and Sports Development has entered into an agreement with Nilayo Sports Management Limited as the official marketer of Team Nigeria to the Tokyo 2020 Olympic Games. The Memorandum of Understanding (MoU) was signed by the Minister, Mr.
Sunday Dare and Nilayo CEO. In his remarks, the Minister said: “We gave them the marketing rights having considered the profiles and track records of several other marketing companies. We feel that Nilayo has what it takes to market Team Nigeria to the Tokyo 2020 Olympics.” In his response, Nilayo CEO, Bukola Olopade, commended the Ministry under the leadership of Mr. Sunday Dare, stressing
that his arrival signals the best time for sports entrepreneurs. He promised that the target given would be met and possibly surpassed. He also applauded the minister’s ‘Adopt-an-Athlete’ initiative which he said is gaining ground. He assured stakeholders that he would work round the clock to ensure that enough funds are raised for Team Nigeria in line with the agreements reached.
Guinean Legislative Election Postpones Flamingos’ World Cup Qualifier
Head, Corporate Communications, Sahara Group, Bethel Obioma (left), presenting the ‘Best Player of the Competition’ award to Lediju Abul-Lateef of Dolphin Senior High School, Lagos after the finals of Sahara Group’s #CleanLoveFeb chess competition ….recently
The Federation Guinean de Football (FGC) has pleaded with the Nigeria Football Federation for postponement by one week of the FIFA U17 Women’s World Cup second round, first leg qualifier between both countries earlier scheduled for this weekend in Conakry. FGF’s reason is that the set date of Saturday’s 29th February coincides with the Guinean legislative election, and it would not be auspicious to host such an important game that same day. The NFF has sent a letter of no objection, and though the
FGF has fixed a new date of Saturday, 7th March for the encounter and the NFF has accepted (meaning there would be only one week in-between the first leg and the return slated for the Agege Stadium, Lagos), the Confederation of African Football still has to give a stamp of approval, as a formality. The Flamingos, quarter finalists at the 2010, 2012 and 2014 FIFA U17 World Cup finals, missed the last edition of the competition hosted by Uruguay but have vowed to return at
the seventh edition billed for India later this year. Earlier scheduled to fly out of the country to Conakry on Thursday, 27th February, the Flamingos will continue their technical and tactical sessions under the watchful eyes of first assistant coach Bankole Olowookere and the technical team. They will now travel on Thursday, 5th March. Guinea ousted neighbours Guinea Bissau after two legs in the first round of the qualifying race to be eligible to file out against the Flamingos.
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APC to PDP “PDP’s latest antics are not surprising. Nigerians will recall that we have consistently reiterated that the opposition party, having been overwhelmingly rejected at the polls in 2015 and 2019, has been exhibiting strange behaviour. We believe it has been difficult for some leaders of the PDP to cope for so long outside of power” – APC advising the opposition PDP to return to farm if it has nothing else to do since it lost the 2019 general election.
KAYODEKOMOLAFE THE HORIZON
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What Money Can’t Buy in JAMB T oday’s pondering over an aspect of moral decay in the society is partly inspired by a book by the Harvard political philosopher, Michael Sandel. In the book, the scholar cautions America against drifting from operating a market economy into becoming a “market society.” Professor Sandel’s book is entitled What Money Can’t Buy: The Moral Limits of Markets. Sandel’s argument is richly supported with stories as evidence of a trend in which civic goods are being turned into commodities in the United States of America. The examples of marketisation of social life are legion; they range from hiring mercenaries to fight wars to paying organ donors. Parents pay children to study hard to have good grades. Citizenship is sold to immigrants. Inmates are out-sourced to for-profit prisons. People are paid to be guinea pigs for testing highly risky drugs. Sandel’s observation is that sacred values are vanishing due to the application of market forces. For the avoidance of doubt, Sandel is no socialist; the eminent scholar firmly believes in the supremacy of a free-market economy. But he doesn’t think you should turn the whole society itself into a huge market. The society is certainly more than a market. So, the book is far from being an American socialist manifesto. However, what is instructive about Sandel’s work is that he is a convinced liberal honestly examining the role of market in a democratic society in which the moral fabric should not be eroded. Sandel’s preoccupation in the book is to find answers to the pertinent questions facing the society: Is there anything money cannot buy? Should everything be up for sale? Is there any place for morality in managing an economy and on a larger scale organising the society? Without being overtly prescriptive, Sandel is nudging America, the most developed capitalist economy, to draw a line between what can be bought and those things that should be beyond the realm of the market. From the wide-ranging examples in the book, the logic could be distilled that certain public goods including environment, health, education and culture should not be subject to market forces wholesale. The values that should govern these civic goods are at variance with the logic of market. By the way, Sandel also thinks that market values should not be applied in matters of sex. Specifically, Sandel warns against the “corrupting” effects of the commodification of education. The nexus between the reckless application of market forces and corruption would always become obvious. Sandel doesn’t claim to be a prophet; but his work seems prophetic in the context of the neo-liberal recklessness in America at a point. Seven years after the publication of Sandel’s 2012 book, the criminal complaint alleged that bribes were paid by some wealthy Americans to secure places at some top universities for their children. Now, in theory college admissions in the United States are supposed to be based squarely on merit. But over time the rich have used money to skew the system in favour of their children. In fact, an American journalist, Daniel Golden, has documented this very well in his book that won the Pulitzer Prize, The Price of Admission. According to Golden, in the “grubby secret of American higher education,” “the rich buy
Oloyede their underachieving children’s way into elite universities with massive , tax-deductible donations.” And this is done at the expense of more deserving candidates from the lessendowed homes. In this game of pricing admission into some American universities, one prominent story is that of Mr. Williams Singer, a baseball coach turned a consultant in opening the “side door” into the university for the children of the rich. His name has featured in some admission “deals” into some top universities. And on March 12, 2019, Singer pleaded guilty to federal university admission racketeering, obstruction of justice and conspiracy. In fact, the affidavit on this conspiracy by the United States Federal Bureau of Investigation (FBI) reveal incredible things. Between 2011 and 2018 some parents reportedly paid about $25 million as “bribes” to secure places for their children in top colleges and universities. Bribes were paid to examination administrators to allow a third party to assist in cheating in entrance examinations. A third party was hired to take classes in place of the actual students. Applications were falsified to secure admissions; there were reports of fraudulently obtained scores and grades in the examinations. And the nature and source of the bribes were, of course, disguised. The foregoing is relevant to the reforms taking place at the Nigeria’s Joint Admission and
The corruption being fought in the admission process has systemic roots. It is a corollary of turning education into just another commodity
Matriculation Board (JAMB) for some reasons. First, it is necessary to demystify the problem that JAMB is tackling at present. It is nothing peculiar to Nigeria or Africa as some Afropessimists are wont to say. That’s the essence of telling the American sordid story in some details. Secondly, the corruption being fought in the admission process has systemic roots. It is a corollary of turning education into just another commodity. The social virus that JAMB is combatting should be expected as the fruits of a system in which the education sector has been turned into a huge market. Market logic often permits cheating, under-hand tactics and making “smart moves” to get the “deals done.” Don’t forget that “primitive accumulation” was part of the origin of what the neo-liberals call “free enterprise.” The poor funding of public education by government has indirectly created a boom in this class-based education market. Neither the state nor the elite outside power seems to be conscious of the dangerous social consequences of this divide being created in the education sector for the future. Among the elite, quality education is perceived as a commodity purchasable by those who can afford it. Education in private universities is advertised on television the way luxury cars or choice wines are advertised. Market values are applied to debase and defile what should be a socially sacred ground for producing skilled manpower and leaders for the society. In discussing education in the social sphere , all that is left is the material calculus in determining the purpose of education. Even the original university idea is lost in the polluted conversation. A former president once remarked that whoever went to the university to read philosophy, sociology or mass communication had “wasted his life.” According to this “theorist of education,” a parent should send his child to the university to read computer engineering for fulfilment in life. Perhaps unknown to this president with a limited view of the purpose of university education, some of the bright minds in the digital world actually have backgrounds in the humanities. In the context of the education sector as a huge market, it should not be surprising that apart from the open legitimate market of the rich paying for quality education, a black market of getting places in the university is also growing by the side. It is this black market that JAMB is combatting. Nigeria is becoming a place where everything - values, spirituality, norms, - is up for sale. So why should anyone be perturbed that parents actually pay criminals to help their children cheat in the process of securing admission into the university? The anti-corruption fight in JAMB ably led by the Registrar, Professor Ishaq Oloyede, is at the core of the reforms that have defined the institution in the last few years. Under Oloyede’s leadership, the organisation has remitted the revenues generated in billions as fees to the government treasury even though JAMB is not primarily a revenue-generating body. This is the aspect of the Oloyede signature on JAMB that has attracted the greatest public attention. Again, we are here talking about money. Before Oloyede, no remittance of that magnitude had been reported by JAMB. The JAMB example becomes even
more conspicuous when viewed against the background of a fiscal landscape in which the budgets of some revenue-generating agencies do not form part of the annual budgets passed by the National Assembly. Technology has also been creatively applied to enhance the operations of JAMB. A lot of technical hurdles are being scaled for JAMB to deliver efficiently on its mandate. When JAMB processed the admission of the first set of candidates who sought university education 42 years ago, the board was dealing with the forms filled by a few thousands who applied to be admitted into the 13 universities that existed at the time. Only a few days ago, JAMB reported that over 2.1 million had registered for the 2020 Unified Tertiary Matriculation Examinations (UTME) and the Direct Entry. Doubtless, this poses a huge logistical challenge even with the advantage of technology which was not available in 1978. Incidentally, 1978 was also the year Nigerian students protested gallantly against the moves to commoditise education by the military government of General Olusegun Obasanjo. So, it could be said that JAMB is still a work in progress. However, beyond the logistical issues of conducting examinations that would determine the admission of candidates into the universities, the moral battle that Oloyede is waging deserves a special attention. In this necessary battle, Oloyede needs the support and encouragement of men and women of goodwill. The other day he told a gathering the story of of the son of a university professor manipulating the system to secure admission. Worse still, the parent aided and abetted the boy in the process. On another occasion, Oloyede narrated the story of how the head of another agency, worried about the future of the country, broke down in tears as the various crimes of candidates were reviewed at a meeting. An admission black market is being developed by those employing technology to manipulate JAMB’s system as a service to desperate admission-seekers patronising them. A whole industry of admission - related crimes is emerging. It’s a big battle to stop the criminals. The essence of Oloyede’s battle is that admission into the university should be based on merit. Admission should not be another item for which to shop in the Nigerian education market. The “smart guys” are bent on buying admission in the black market at the expense of the honest ones who are more deserving of places. In other words, admission should not be priced. To do so would amount to corruption. It would, of course, require going to the systemic roots to permanently tackle the problem. Beyond applying the law, the moral efforts directed at orientating the youth in particular are also important. Incidentally that was what the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, seemed to be focusing upon the other day by leading youths in a walk against corruption in some cities. Doubtless, public officers in the mould of Oloyede are few in the system . But, in a way, they provide the basis for the optimism that all is not lost in fighting for the future of Nigeria.
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