MONDAY 8TH MARCH 2021

OPS, Analysts Back CBN’s Measure to Boost Diaspora Remittances Nume Ekeghe and Dike Onwuamaeze Members of the organised private sector (OPS) and some analysts have hailed the newly-introduced ‘Naira 4 Dollar Scheme’ of the Central Bank of Nigeria (CBN).

The OPS members and the analysts, in separate interviews with THISDAY anticipated that the scheme would help improve diaspora remittances through the official channels by about 30 per cent.

The CBN, in a circular dated March 5, 2021, and signed

by Mr. A.S. Jibrin, on behalf of the Director, Trade and Exchange Department, had said the new initiative would become effective today and would last till May 8, 2021.

In line with this initiative, all recipients of diaspora remittances through CBN’s

licensed International Money Transfer Operators (IMTOs) shall henceforth be paid N5 for every $1 received as remittance inflow.

The apex bank, in the circular, said: “The CBN shall through commercial banks, pay to remittance recipients

the incentive of N5 for every $1 remitted by a sender and collected by the designated beneficiary.

“This incentive is to be paid to recipients whether they choose to collect the United States dollar as cash across the counter in a bank

or transfer same into their domiciliary account. In effect, a typical recipient of diaspora remittances will at the point of collection, receive not only the USD sent from abroad but also the additional N5 per USD Continued on page 48

Despite Improved Wheeling Peak, Power Sector Loses N26.6bn... Page 10 Monday 8 March, 2021 Vol 26. No 9465. Price: N250

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Tell Buhari Sponsors of Banditry, Yakassai Challenges Matawalle...Page 8

Northern States Tighten Security to Curb Abduction of Schoolchildren Sokoto merges boarding schools in border areas Zamfara to build police posts Police deploy personnel in Kaduna, Katsina FG beefs up safety measures at airports Seriki Adinoyi in Jos, John Shiklam in Kaduna, Ibrahim Shuaibu in Kano, George Okoh in Makurdi, Francis Sardauna in Katsina, Laleye Dipo in Minna, Igbawase Ukumba in Lafia, and Segun Awofadeji in Bauchi No fewer than 11 Northern states have beefed up security around schools to prevent the abduction of pupils by bandits

in their states, THISDAY’s investigations have revealed.

It was learnt at the weekend that the states stepped up security in schools following the recent abductions of 27 pupils from Government Science College, Kagara in Niger State and 297 others from Government Girls' Secondary School in Jangebe, Continued on page 48

Buhari Hails Osinbajo at 64, Says He is Reliable, Dedicated Lawan, Gbajabiamila, Tinubu extol vice president’s virtues Deji Elumoye and Udora Orizu in Abuja President Muhammadu Buhari has felicitated with Vice President Yemi Osinbajo (SAN) as he marks his 64th birthday anniversary today, describing him as a

reliable and dedicated deputy who is not only admirably competent, but also exudes confidence and passion in the performance of his job.

In a congratulatory message, yesterday evening L-R: Minister of Industry, Trade and Investment, Chief Adeniyi Adebayo; Secretary-General of African Continental Free Trade Agreement (AfCFTA) Secretariat, Mr. Wamkele Mene; and Minister of State, Ms. Mariam Katagum, during the visit Continued on page 48 of the secretary-general to the minister in Abuja…weekend

TRADE MATTERS...

President Mourns as S’Court Justice, Ngwuta, Dies...Page 8

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

President Mourns as S’Court Justice, Ngwuta, Dies

Deji Elumoye and Alex Enumah in Abuja President Muhammadu Buhari has condoled with the family and friends of Justice Sylvester Ngwuta of the Supreme Court, who passed away yesterday in Abuja.

Justice Ngwuta died 23 days to his March 30 retirement on the attainment of the mandatory retirement age of 70 years.

According to a statement from the apex court, the late judge died around 2.30 a.m yesterday.

The statement by the Chief Registrar of the Supreme Court, Mrs. Hadiza Mustapha, said Ngwuta died after a brief illness.

Mustapha, however, stated that the late judge’s sickness was not connected to COVID-19.

"The Supreme Court of Nigeria regrets to announce the death of the Hon. Mr. Justice Nwali Sylvester Ngwuta, JSC, CFR, by 2.30 a.m. of Sunday, March 7, 2021, the apex court said in the statement, explaining: "He felt sick and was admitted in the last one week in the

National Hospital, Abuja but before he was moved to the intensive care unit (ICU) of the hospital on Friday, March 5, he tested negative to COVID-19 investigative test conducted on him."

Justice Ngwuta was due to retire from the Supreme Court bench on attaining mandatory retirement age of 70 years on March 30, 2021.

His remains, according to the statement, have been deposited at the National Hospital mortuary, pending burial arrangements.

Buhari, in a condolence message by his media aide, Malam Garba Shehu, joined the people and government of Ebonyi State, the Nigeria Bar Association (NBA), and members of the Bench in mourning the legal luminary.

He expressed regrets that the death of the jurist will leave a gap in the Supreme Court, considering his experience and dedication to the interpretation of the constitution.

Justice Ngwuta, who was appointed Supreme Court justice on March 22, 2011, was born on March 30, 1951, in Amofia-Ukawu, Onicha

Local Government Area of Ebonyi State.

He read law at the University of Ife (now Obafemi Awolowo University) lle-Ife and graduated in 1977, bagging his BL at the Nigerian Law School in 1978.

The late judge, who was among some judicial officers subjected to corruption

trial in the early days of the Buhari administration, resumed normal judicial duties on September 23, 2019, at a ceremony marking the Supreme Court’s 2019/2020 new legal year.

Ngwuta, who was the third most senior judge of the Supreme Court until his death, was suspended from judicial duties in 2016 by the

National Judicial Council (NJC) like other judicial officers, whose houses were raided in August 2016 by the Department of State Services (DSS).

He was subsequently charged before the Federal High Court, Abuja with money laundering and later, before the Code of Conduct Tribunal (CCT) with failure

to declare assets.

Both charges were subsequently struck out in 2018 on account of a decision by the Court of Appeal, Lagos Division that an erring serving judicial officer must first be taken through NJC’s disciplinary mechanism before being subjected to trial in the conventional courts.

FG Beefs Up PATRIOTISM ON HIS MIND...

Safety Measures at Northern Airports Tell Buhari Sponsors of Banditry, Vice President Yemi Osinbajo delivering a keynote address at a virtual international conference on patriotism in Abuja…weekend

Chinedu Eze Following the kidnapping of workers from the official quarters of the Federal Airports Authority of Nigeria (FAAN) at the Kaduna International Airport on Saturday, the federal government has ordered the reinforcement of security at all the airport facilities in the North.

The Managing Director, Federal Airports Authority of Nigeria (FAAN), Captain Rabiu Yadudu, said yesterday that security had been strengthened at airports and FAAN staff quarters in the North.

Gunmen had attacked Kaduna Airport workers residing at the FAAN residential quarters and reportedly abducted nine persons, including workers of aviation agencies and members of their families.

The bandits were said to have gained access to the residential quarters through the airport runway and operated from late Friday night until Saturday morning.

Yadudu said his team had been working with security agencies and the Kaduna State government to free the abductees.

This collaboration, he said, had led to the gathering of information to assist security operatives to forestall any re-occurrence.

According to him, a risk assessment of a similar

attack on its staff last year helped them to come up with a robust strategy to counter such challenges.

“We have already beefed up security since last year. It is not something new to us.

We have our own means of communication in countering these challenges. A lot has been averted with what we have been doing; it is not something you know.

Right now, an investigation is ongoing,” he said.

Yadudu stated that if there was a need for the authorities to close the Kaduna airport due to the incident, they would do so.

He, however, pointed out that the recent attack did not warrant that as the FAAN residential quarters are located far away from the airport.

“We have taken appropriate measures. What we need to do now is to improve in order to counter these evolving challenges.

The fence was broken, we have security personnel attending to the area, but somehow, somewhere, things happened and now it is for us to counter it. It is a risk; security challenges always come; they evolve and they improve and on our own part we keep improving,” Yadudu added.

He stated that the security architecture of the airport would be improved upon with the support of security agencies and the state government.

Yakassai Challenges Matawalle Chuks Okocha and Deji Elumoye in Abuja A former presidential adviser to the late President Shehu Shagari, Alhaji Tanko Yakassai, and some prominent Northerners have mounted pressure on the Zamfara State Governor, Mr. Bello Matawalle, to name those behind the killings in the state by revealing their identity to President Muhammadu Buhari.

The governor had a fortnight ago said that Nigerians would be shocked if he disclosed the names of those behind the violence in the state.

Speaking exclusively to THISDAY at the weekend, Yakassai said: “I hope he is not trying to blackmail some people. This is because as a governor if he knows people behind the insecurity in the state, why is he keeping quiet?

"As the chief security officer of the state, he should be worried about the level of insecurity in the state.

Why is he keeping quiet?

He should come up or talk to the president who is the Commander-in-Chief.

He should confide in the president; even the president is not happy with what is happening.”

Yakassai urged the governor to give the details about the alleged sponsors to

Buhari, so that the president should know how to handle the matter.

According to him, nobody is happy over the killing, and it will be an indictment on the president if the violence continues.

"He should confide in the president or whoever that can help solve this problem.

The president is eager to solve this problem than anybody else. It is more of a serious indictment on the president than the governor because the governor has no security control under him. The president is the Commander-in-Chief," he said.

Also, two other top Northerners who sought anonymity because of the sensitive nature of the matter called on the governor to speak out as the violence is getting out of hand.

One of them, a former governor, said: "In the overall interest of the state and security, he should speak if he is aware of those behind the killings. He is the chief security officer. He should open up if he is aware of those behind the violence. He should speak up before the violence gets out of hand."

Also, a former minister, who didn’t want to be named, urged the governor to speak out if he has no intention of blackmailing

political opponents.

“What is the governor waiting for? If he is sure of those behind the violence, if he cannot speak out publicly, he can confide in the president who is the Commander-in-Chief."

Meanwhile, some Zamfara State elders have endorsed Matawalle’s efforts at addressing the security challenges in the state.

They have also kicked against last week's declaration of the state as a no-fly zone by the federal government, as well as the indefinite ban on mining activities, stressing that the governor is in the best position to talk about the security challenges in the state.

A cross-section of the Zamfara political stakeholders who spoke to THISDAY at the weekend, commended the efforts taken so far by the governor to tackle headlong the security problems facing the state.

Those who spoke to THISDAY on condition of anonymity stated that the governor should be given kudos for the way he has tackled banditry since he assumed office.

According to them, Matawalle is in a better position to talk about the security situation in the state than the presidency.

They also condemned the

indefinite ban on mining activities in the state.

One of the elders and a prominent politician said the elders were on the same page with the governor on security.

He said: "We have it on good authority that the governor was always in touch with the presidency over the security issues facing the state. So, it was even surprising to our governor when the federal government took those decisions because even as of the morning of that announcement, the governor was still in touch with the presidency.

"What do you expect Governor Matawalle to do? He was caught off guard because he believed he had briefed the president adequately about happenings in his state. He doesn't necessarily need to be physically present in Aso Rock to brief the president; there are various communication means to reach the presidency."

One of the elders advised the federal government to revisit the steps taken so far to address the security issues facing the state "because it is not as bad as being painted outside the state."

The stakeholders pledged support for Matawalle in his moves to tackle the security challenges facing the state.

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Despite Improved Wheeling Peak, Power Sector Loses N26.6bn

Emmanuel Addeh in Abuja

The Nigerian Electricity Supply Industry (NESI) lost N26.603 billion to constraints, including limited gas supply, poor infrastructure as well as challenges with the national grid system between February 5 and March 5, THISDAY gathered yesterday.

The development comes as the Transmission Company of Nigeria (TCN), for the fourth consecutive time in two weeks, said it had posted another record peak wheeling performance on March 5.

General Manager, Public Affairs of the company, Mrs. Ndidi Mbah, said the latest maximum daily energy peak of 119,471.15MWH was higher than the previous value of 118,133.85 recorded a day earlier by 1,337.3MWH. The new record also exceeds the ones, achieved on February 25, February 26, February 28 and March 1.

However, the power sector has continued its sub-optimal performance, sustaining its losses in the electricity value chain, according to the latest figures from the Advisory Power Team (APT), which is resident in the office of the Vice President, Prof. Yemi Osinbajo (SAN).

The trend showed that the loss was a continuation of similar ones recorded in December 2020, which hit N26.7 billion, a difference of

about N300 million put side by side with the N26.4 billion loss recorded in January.

Also, there was a marginal boost to the average energy per hour available to Nigerians between February 5 and March 5, standing at 4,607MWH/H compared to 4,501 MWH/H in January and 4,500MWH/H in December last year.

But the figures for the 30 days indicated that although many Nigerian homes continue to suffer severe power outages, peak power wheeled for the days under review improved markedly hitting 5,802MW compared to 5,584MW in the month of January and 5,504MW in December, 2020.

According to the latest data, with revenue leakages owing to constraints within the system, including poor infrastructure, the country lost a substantial quantum of 1,847MW between February 5 and March 5, put side by side 1,838MWH/H, in January.

Insufficient gas supply, distribution infrastructure, and transmission infrastructure accounted for the limited performance of the sector, the report stated.

Like in previous months, some of the power generating plants across the country, such as the Alaoji NIPP, Ihovbor NIPP, ASCO, Egbin station 6 and AES, did not produce any power, while Egbin station 2 to 5, the largest power generation plant in the country, performed

South-east PDP Elects Zonal Executive Committee

Segun James

The leader of the Peoples Democratic Party (PDP) in the South-east geo-political zone and Governor of Enugu State, Hon. Ifeanyi Ugwuanyi, on Saturday, led party delegates to the zonal congress to elect Chief Ali Odefa as the National Vice Chairman (South-east) of the PDP. The PDP zonal congress also elected 14 other members of the Zonal Executive Committee of the party through a peaceful and transparent election that was conducted by the Electoral Committee led by Dr. Ibrahim Umar.

The electoral process was monitored and thereafter endorsed by the Independent National Electoral Commission (INEC) as orderly, peaceful and credible.

The other elected Zonal Working Committee members, who were sworn in alongside the new National Vice Chairman, Chief Odefa, are: Mr. Ugwu James (Zonal Secretary); Hon. Emeka Okeke (Zonal Treasurer); Hon. Casmir Ugwu (Zonal Financial Secretary); Hon. Mike Ahumibe (Zonal Organising Secretary); Mr. Ukpai Ukairo (Zonal Legal Adviser); Mr. Augustine Okeke; (Zonal Publicity Secretary); Hon. Lazarus Ogbe (Zonal Auditor); Mrs. Mary Omile (Zonal Woman Leader) and Comrade Chidiebere Egwu (Zonal Youth Leader).

The five others who

were elected as Zonal Exofficio members are Chief Damian Ozurumba (Abia); Mrs. Anthonia Nwankwu (Anambra); Mr. Francis Kalu (Ebonyi); Chief Romanus Edeh (Enugu) and Sir. Stanley Ekezie (Imo).

The zonal congress was attended by the Deputy Governor of Abia State, Hon. Ude Oko Chukwu; the PDP National Organising Secretary, Col. Austin Akobundu (rtd); the National Youth Leader, Hon. Sunday Udeh-Okoye; former Governors of Ebonyi, Anambra and Imo states, Senator Sam Egwu, Mr. Peter Obi and Hon. Emeka Ihedioha respectively.

Others in attendance include: National and State Assembly members from the zone, Mr. Olisa Metuh, Mrs. Josephine Anenih, Mr. Chris Ubah, and other esteemed leaders of the party in the zone, including the new returnee in Anambra State, Hon. Tony Nwoye.

The congress also elected six National Ex-officio members of the party from the South-east.

The newly-elected National Ex-officio members are: Mr. Ibe Nwadioha (Abia); Mr. Okey Muo-Aroh (Anambra); Ms. Nonye Nwangwu (Anambra); Hon. Harrison Onwe (Ebonyi); Princess Edith Okoro N. (Enugu) and Hon. Chinemerem Madu (Imo).

Announcing the result, the Chairman of the Electoral Committee, Umar, declared Odefa as the winner.

the most, followed by Jebba, Kainji, Azura-Edo, Geregu, Okpai and Odukpani in that order.

Nigeria has a rough estimate of installed power generation capacity of 12,522 MW, with a mix of thermal which requires gas to function put at about 10,142 MW, while hydro or the quantum requiring water is 2,380 MW. According to the United

States Agency for International Development (USAID), only 45 per cent of the entire population currently has access to electricity supply, shared between the rural population with 36 per cent and urban residents with a 55 per cent access rate, leaving a huge chunk of 20 million households without power.

In 2013, the federal government privatised

the power sector to attract investments and sort out many of the current issues still bedevilling the sector. But many years after, there has been no marked improvement in the operations of the entire spectrum of the value chain.

A multi-billion-dollar deal with Siemens of Germany to revamp the sector, broken down into three phases

which will see Nigeria generate 25,000MW by 2025, has remained in the doldrums since last year.

Last week, Minister of Power, Mr. Sale Mamman, said he had been instructed

by President Muhammadu Buhari, to understudy how a similar agreement between the Egyptian government and Siemens became a success story.

PROMOTING GRASSROOTS DEMOCRACY...

Delta State Governor, Senator Ifeanyi Okowa (left) casting his vote during the state’s local government election at Unit 3, Ward 3, Owa-Alero in Ika North East LGA…weekend

APC Has No Zoning Agreement on 2023 Presidency, Says Bello Iyobosa Uwugiaren in Abuja Kogi State Governor, Alhaji Yahaya Bello, yesterday rekindled the controversy over the rotational presidency with a declaration that the ruling All Progressives Congress (APC) has no zoning arrangement.

His view is contrary to those of Kaduna State Governor, Malam Nasiru el-Rufai, and Minister of Works and Housing, Mr. Babatunde Fashola (SAN), that the 2023 presidency be zoned to the South after the expiration of the tenure of President Muhammadu Buhari, in compliance with the understanding reached by the party’s leaders during the merger talks before 2015 general election.

El-Rufai had said there was an agreement that the presidency should be zoned to the South after the eight-year rule of the North, stressing that although the agreement was not enshrined in the party's constitution, politicians are aware of it.

“That is why I came out and said that after President Buhari’s eight years, no

Northerner should contest for the office. Let the Southerners also have eight years,’’ he had stated.

Fashola too had urged the APC to respect its zoning formula in picking its presidential candidate for 2023 election.

“The truth is that what makes an agreement spectacular is the honour in which it is made, not whether it is written. If it was written, there would be no court cases of breach of contract because it’s a document that is written and signed that goes to court.

“The private agreement you make with your brother and sister should not be breached. It must be honoured,” Fashola had said.

He acknowledged that zoning is not in the party’s constitution, insisting that the party leaders had an agreement on zoning when the party was being formed.

But speaking with journalists in Abuja weekend, Bello, who is nursing a presidential ambition, said there is no zoning arrangement in the APC. ‘’There is nothing like

zoning in our party. In 2015, there was no zoning; many aspirants, including former governor Rochas Okorocha contested. In 2019, there was no zoning; people in APC were not courageous enough to contest with President Muhammadu Buhari,” Bello stated.

He added that the challenges facing the country has nothing to do with where the president comes from, as Nigerians are looking for young, vibrant, and responsible leaders, who can tackle the challenges.

Asked if he is interested in the office, the governor said: ‘’Even if I say I’m going to contest for presidency in 2023, my response is this: It is the will of God I became governor today, and I am in my second term going. If it’s the will of God for me to become president in this country at the right time, I will be.’’

The governor is optimistic he will defeat any challenger if he decides to contest. ‘’I will record a vote that has never been recorded in Nigeria by the grace of God. But that’s not the issue right

now; the issue is there must be Nigeria before we talk of 2023,’’ he added.

According to him, Nigeria’s problems, including insecurity, can be solved as there are enough resources to tackle them. ‘’Nobody factor in tomorrow for our children yet-unborn; sometimes there will be burning issues at hand, they call for meetings, you sit down and they are not discussing the main issue that brought us together. ‘’And before the meeting there is communiqué; after the meeting, it’s the communiqué that is read and it has nothing to do with the issue at hand.

How can we progress? ‘’This is what we have today as a country. A situation where Mr. President will give approval for things to be done and that approval is kept aside, and there will be no consequences for that.

That’s what we have today as a country,’’ he lamented.

He advised his colleagues to take the insecurity in the country seriously, saying they must talk about Nigeria first before the 2023 general election.

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COMMENT

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

INVESTORS AWAIT TRUMPET FOR DERIVATIVE TRADING Sola Oni writes that the Nigerian Stock exchange is well positioned for derivative trading

C

apacity building is one of the statutory functions of the Chartered Institute of Stockbrokers (CIS), even as the highprofile Institute is on a definitive journey towards changing its name to reflect the wider duties of stockbrokers.

With the Theme: “Derivative Markets, Instruments and Contracts”, the Institute held a two-day successful virtual training on Wednesday, February 24 and Thursday, February 25. The accomplished facilitators, including the Registrar and Chief Executive of the Institute, Adedeji Ajadi, are all stockbrokers. The Institute operates a Continuing Professional Development (CPD) programme annually. The Nigerian Stock Exchange whose Chief Executive Officer, Oscar Onyema, is not only a stockbroker but global derivative trader does a lot of trainings. This implies that human capital is never a threat to trading in derivatives on The Exchange.

As an indicator of corporate foresight, over two decades ago, the then management of The Nigerian Stock Exchange saw the need to commence trading in derivative instruments for enhanced global risk management. Interestingly, the lot fell on the current governor of Edo State, Godwin Obaseki, the then Chief Executive Officer of one of the foremost stockbroking firms, Securities Transactions & Trust Company (SecTrust) (Now Afrinvest West Africa) to present a paper on derivative trading on The Exchange. The paper was a masterpiece and instantly became a reference point. Thereafter, The Exchange organized an education visit for some stockbrokers to the University of Reading, United Kingdom, where they were exposed to trading in derivative instruments through simulation. A candidate cannot qualify as an omnibus stockbroker or specialist under the Institute’s new model of Stand-Alone Certification without passing Derivative as a course.

Derivatives are financial instruments or contracts whose value are derived from that of underlying assets. They are complex financial contracts between two or more parties and their prices are derived from fluctuations in the prices of underlying assets. The underlying assets are equity, fixed income securities, commodities, currencies, interest rates and market indices, among others. As an asset class, derivative instruments are risk management tools. The four basic types of derivatives are forward, future, options, and swaps. But the most complex among them is option. The major players in the derivative market are the hedgers who use derivatives to reduce risk, the speculators or traders who are risk takers and arbitrageurs who take advantage of price discrepancies in different markets to make riskless profit. Trading in derivatives thrives in an atmosphere of functioning spot market for the underlying assets, assured liquidity, defined market structure, legal compliance, and investor acceptance. By any metric, The Nigerian Stock exchange is positioned for derivative trading. Apart from having the basic infrastructure, spot market for underlying assets is as old as the history of Nigeria’s economy.

The Exchange, like the Institute has regularly built capacity for trading in derivative. As a normal market, it cannot be insulated from volatility due to many factors, especially exogenous. The time for derivative trading on The Exchange cannot be more appropriate than now. Investors across the globe need an alternative way to manage the risk of share diminution.

Derivative trading will avail them opportunities to hedge their risk exposure, take large position with fractional cost and enjoy benefits of price discovery. It will enable the participants in the market and other operators in the value chain to determine prices of underlying assets.

DERIVATIVE IS HINGED ON THE PILLAR OF ZERO-SUM GAME: WHEN ONE PARTY LOSES, THE OTHER GAINS AND VICE VERSA. DERIVATIVE TRADING IS A HIGH-RISK INVESTMENT

Derivative trading will enhance The Exchange’s efficiency, attract more participants to the market and boost its income drive. It will open doors for listed companies to access otherwise unavailable assets. For instance, they can leverage interest rate swaps to enjoy a favorable interest rate.

At the last count, expectation was high that The Exchange will start trading in Index Futures such as NSE 30. The Index is the underlying asset and has been in existence for years. The Exchange has capacity to commence immediately and graduate to single stock future such as using stocks of some blue-chip companies as the underlying assets.

Derivative market is the cynosure of the global financial market.

Investors are on the queue for The Exchange to blow the trumpet.

There are strong indications that the new entrant to the financial market ecosystem, Lagos Commodities and futures Exchange (LCFE), may blow such trumpet sooner than later. It is a win-win affair for both markets and investing public. It is not clear whether delay in The Exchange’s commencement of trading in derivatives has to do with approval from the apex regulator, the Securities and Exchange Commission (SEC). If this is the basis, SEC should act fast as everyone awaits the dawn of a new era. The Exchange should exploit the waiting period for more public enlightenment on the benefits and risk- aversion measures in derivative trading. There should be increased trainings for the capital market correspondents, the agents of information dissemination to upscale their skills in reporting the financial instruments.

The two biggest derivative exchanges in the world are the Chicago Mercantile Exchange (CME) and Chicago Board of Trade (CBOT) where trillion Dollar worth of contracts are written daily. The Nigerian Stock Exchange has always placed premium on capacity building. In 2009, I was sponsored by The Nigerian Stock Exchange to Chicago Board of Trade as part of my internship with the World Bank in Chicago after a rigorous training at the United States’ Securities and Exchange Commission in Washington DC. The staff at CBOT were excited to discuss the risk and return trade-off in the derivative markets. Derivative instruments, like any other asset classes, are not without snags.

In February 1995, at Barings Bank’s derivative trading desk, a brilliant young man, Nick Leeson, in his mid-twenties gambled on future market fluctuations and was losing more than winning. Unfortunately, he was hiding his losses in a secret trading account and using the bank’s money to cover his losses. Leeson had defrauded the bank 827 Million Pound Sterlings which made the British’s oldest merchant banks to go bankrupt before the financial scandal was uncovered.

Derivative is hinged on the pillar of zero-sum game: When one party loses, the other gains and vice versa. Derivative trading is a high-risk investment. The high volatility associated with the instruments either enhances huge gains or exposes participants to potential losses.

Valuation of contracts is highly complex and vulnerable to error of judgement. Derivatives thrive on speculation and this comes with strong possibilities of monumental losses. The contracts traded on an exchange go through due diligence and there is a central counterparty for buyers and sellers. This mitigates risk of default or failed trade. But transactions executed over-the-counter are prone to counterparty risk and this may be very costly. Investors should talk to their stockbrokers to mitigate risks.

Oni, award-winning Communications Consultant, Chartered Stockbroker and Commodities Trader is the Chief Executive officer, Sofunix Investment and Communications.

RESETTING THE HEALTH SECTOR

Speaker of the House of Representatives, Femi Gbajabiamilia is pushing for a better health care for the people, writes John Awaka

T

he COVID-19 global tragedy clearly showed leaders and the entire humanity what really matters. Not commerce.

Not fashion. Not material wealth. The real deal is health. In the face of the biggest public health crisis in decades, luxury automobiles and exotic lifestyles gave way to well-being. Even the rich succumbed to the consolatory refrain of the poor that, ‘when there is life, there is hope’.

Investments that had gone bad as a result of COVID-19 pandemic were not the concerns of the rich nor money spinning sectors that were forced to shut down. They just want to keep safe and be alive.

The pandemic also revealed the appalling state of the nation’s health care infrastructure. The scourge became a leveler as the aristocrat class could not fly out to seek medical treatment in better climes because the airspace was shut and global air traffic was deliberately halted to mitigate the spread and flatten the curve.

Both the rich and the poor were compelled to make do of what we have got as a nation. As usual, there were knee-jerk interventions in equipping the existing health facilities to combat the COVID-19 infections surge. Makeshift, temporal isolation wards were hurriedly erected.

As commendable as the interventions were, there must be deliberate actions to prioritise health.

That is what Hon Femi Gbajabiamila-led House of Representatives is pushing to be institutionalized. At one fell swoop, the House will be conducting public hearing on six critical bills that capture health and food administration in Nigeria.

The Speaker said, “We expect that when these six bills become law, they will each serve to improve our national health system in specific, and significant ways that will impact the lives of our nation’s people for a long time.”

They include, Bill for an Act to establish a National Electronic Health Record System for the storage and access of electronic health records in Nigeria’ and the ‘Bill for an Act to amend the Compulsory Treatment and Care for Victims of Gunshots Act to expand and bring the long title in conformity with the actual intendment of the bill, provide a stiff punitive measure to checkmate violations.’

Also to be considered is ‘Bill for an Act to Amend the National Agency for Food and Drug Administration and Control Act, CAP N1, Laws of the Federation of Nigeria, 2004.’

The legislative agenda of the ninth National Assembly, especially the House of Representatives under the leadership of Gbajabiamila is undoubtedly geared towards delivering values and dividends to the greatest number of people. The totalitarian disposition of the Gbaja House distinguished it.

For instance, the proposed electronic integrated and centralized medical records will save many lives in times of emergency. Medical records and vital information of patients should be readily accessible on a single digital platform across the country.

Rather than waiting for a man in distress or his family members to give vital health information, the centralized medical records network will quicken interventions and appropriate treatment. For Gbaja, Nigeria has no business operating archaic health records systems in a fast-paced world. Nigeria must

join the global trend.

If financial institutions can integrate customers’ records and vitals within and inter-banks, health records that are critical to life should be readily available to health workers without stress.

The ‘Bill for an Act to amend the Compulsory Treatment and Care for Victims of Gunshots Act’ is another landmark amendment as many health practitioners often disregard the act because there are not stiff punitive punishments for violation. Many lives have been wasted needlessly over negligence or total refusal to admit or treat victims of gunshots.

Not all victims of gunshots are criminals. Law abiding citizens have had the misfortune of being hit by stray bullets from trigger-happy cops or daredevil armed robbers, kidnappers, cultists and other criminal gangs. Such victims deserve the right to urgent treatment without insistence on police reports.

At least, both the saint and the sinners should be saved first and then call in the police to investigate the circumstances behind each case. After all, the fleeing robbers who sustained gun injury also deserve to have their days in court.

The Amendment to Act establishing NAFDAC is another crucial amendment. Developments and technological innovations in food processing and allied matters have overtaken the regulatory provisions in the extant law. The punishment for fakery of food and drugs appear not to be weighty enough to scare the criminal cartel.

These amendments will no doubt strengthen the nation’s healthcare system and evolve a virile regulatory framework for food administration in Nigeria.

It is important to note that these audacious legislative interventions to ensure the wellbeing of Nigerians are not the first moves by Mr. Gbajabiamila. On Friday, he warned politicians and other fifth columnists against playing politics with the Oxford/ Astrazeneca COVID-19 vaccines that arrived Nigeria last Tuesday. Pandering to political propaganda and outright misinformation of the Nigerian public against taking the jab for petty political gains is a huge crime, Gbajabiamila reasoned. The lives of ordinary Nigerians matter.

Gbajabiamila said, “We must not play politics with vaccines; we must not play politics with the health of our neighbour; we must be on the same page whilst we also correct and do what you need to do in terms of your role in checking the government and holding their feet to the fire”.

The Speaker also appealed to journalists not to provide platforms for those who will misinform and peddle conspiracy theories against the vaccines as the Governor of Kogi State, Yahya Bello recently did when he declared that he will never submit himself for vaccination, adding that Kogi people are not Guinea Pigs.

The patriotic interventions of Gbajabiamila even when many in the ruling party appear indifferent is highly commendable. Great leaders in time of national emergency exalt nationalism above partisanship. That has been the winning style of the Speaker. When the COVID-19 pandemic was raging virulently in the second quarter of 2020, the plight and welfare of health workers who were confronting the scourge were his concerns.

Awaka wrote from Zaria

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EDITORIAL A SALUTE TO NIGERIAN WOMEN Our women and girls deserve a better deal

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gainst the background of the recent appointment of Dr Ngozi Okonjo-Iweala as Director-General of the World Trade Organisation (WTO), the theme for the 2021 International Women’s Day could not be more apt: ‘Women in Leadership: Achieving an equal future in a COVID-19 world’. Okonjo-Iweala is not just a Nigerian, she is the first African and the first woman to hold the position in the 72 years history of the organisation, giving practical effect to the United Nations aspiration to have “women at every table where decisions are being made.”

As women all over the world therefore mark the 2021 International Women’s Day to celebrate their achievements, critical stakeholders in Nigeria must also come to terms with the fact that our women and girls deserve a better deal. They have proved wrong the erroneous notion imposed by patriarchy that women are inferior to men while gender equality is not just a human rights issue, it is essential for the achievement of sustainable development and a peaceful, prosperous society. Critical stakeholders must NOTHING PERHAPS therefore come to SPEAKS TO GENDER terms with the fact IMBALANCE THAN that circumscribing THE NUMBER OF access to opportuniREPRESENTATIONS IN ties that ultimately THE VARIOUS ARMS OF empowers women GOVERNMENT BOTH IN who make up about THE STATES AND AT THE 50 per cent of the FEDERAL LEVEL Nigerian population is counterproductive for the development of our society.

On a day such as this, not only do we salute our women, we join their efforts as they continue to fight all forms of discrimination. Doing that include adopting, strengthening and implementing legislations that will promote gender balance in all aspects of our national life. Beyond any proposed legislations, however, there are clear and definite constitutional provisions that entrench the rights of women that are being observed in

Letters to the Editor

the breach. Unfortunately, reminding some Nigerians of these fundamental guarantees seems futile while the people expected to defend or promote those rights hardly care. If we must include our women in the governing process, dealing with these issues is therefore important.

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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 TO SEND EMAIL: first name.surname@thisdaylive.com

eanwhile, for change to happen, it would take collective global action. That women are underrepresented, according to a recent UN Secretary General’s recent report, is reflected in the fact that women head government only in 22 countries while only 24.9 per cent of national parliamentarians are women. The glass ceiling, according to the United Nations Development Programme (UNDP), “is perhaps most apparent for women in areas that challenge ‘hard power’. In politics, men and women vote at similar rates, but less than one quarter of parliamentary seats globally are held by women. This isn’t just a gender gap. It’s a power gap.”

This is particularly more so in Nigeria that is traditionally patriarchal. Nothing perhaps speaks to gender imbalance in the country than the number of representations in the various arms of government both in the states and at the federal level. Since the commencement of the Fourth Republic in 1999 (22 years ago), the number of elected women in both the executive and legislative arms of government has been abysmally low. At the level of the executive, no woman has ever been elected the president of the country or governor of any state. At the legislative level both at federal and the component states, the number of elected legislators is less than five per cent. We have had a female Chief Justice of Nigeria (CJN) who left a worthy legacy in the judiciary.

As Nigeria therefore joins the rest of the world to mark the International Women’s Day, we must celebrate the social, economic, cultural and political achievements of our mothers, sisters and daughters. But we also need an institutional mechanism to strategically address all the impediments placed against them. That is the only way to assure our women that we care about their welfare and the prosperity of our country.

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

BAWA: Sentiments On Youth Participation And Anti-Corruption

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he confirmation of Abdulrasheed Bawa as the substantive Chairman of the Economic and Financial Crimes Commission (EFCC) is historic. Mr. Bawa, born 40 years ago, is the youngest person to ever lead the organization which has been without a substantive head since November 2015.

The news of his appointment, however, was largely overshadowed by his age – as the prevailing sentiment over his experience and his capacity to serve as the Chairman of the Commission - despite meeting the legal requirement in the Economic and Financial Crimes Commission (EFCC) Establishment Act (2004) for the appointment. The act states that a Chairman shall (ii) be a serving or retired member of any government security or law enforcement agency not below the rank of Assistant Commissioner of Police or equivalent; and (iii) Possess not less than 15 years cognate experience.

It must be stated at this point that the youth classification, according to the Nigerian National Youth Policy is 15 – 29 and therefore the EFCC Chairman is not a youth; he is however the youngest person to ever lead the EFCC. Opinions remain divided over his age - a typical socio-cultural mantra in many societies which equates age with experience and capacity. The age-related sentiments following the appointment of Bawa are reminiscent of the experiences of young aspirants and candidates running for elective office in Nigeria during campaign and election periods who are largely dismissed as being ‘too young’ or ‘not ready’.

Youth participation in government is not alien to the Nigerian political space. Indeed, a significant number of the founding fathers of Nigeria

were in their youth when they engaged the long laborious process that birthed our independence. The military era that followed the collapse of the First Republic also threw up a significant number of leaders who, though still in their youth, firmly steered the affairs of the country. Thus, the appointment of Abdulrasheed Bawa and the emergence of young people in the decision-making process is a welcome development.

One of the loudest voices with a prevailing sentiment on the appointment of the EFCC Chairman was Prof. Itse Sagay, the chair of the Presidential Advisory Committee Against Corruption (PACAC), who expressed fears about the influence the Attorney-General of the Federation, Abubakar Malami, may have on Bawa, either due to the fact that they are both from Kebbi State or the alleged role Malami played in the removal of Ibrahim Magu from the EFCC. This sentiment also shares similarities with the experiences of young politicians who are perceived to be accountable to certain godfathers and not the constituency that elected them.

In a widely publicized open letter from former Minister of Aviation, Osita Chidoka to Abdulrasheed Bawa, he wrote, ‘I support the generational shift that your appointment represents. We should remove all the clauses in our laws that create an age barrier to executive positions. It is anachronistic and against the spirit of the Not Too Young to Run Act’.

The #NotTooYoungToRun Movement would definitely agree that age limitations can no longer hold sway in a time and age of globalization, technology and the ever-evolving dynamics in global politics.

Regardless of his age, Abdulrasheed Bawa faces the same challenges his predecessors faced. While he must ensure he remains a model of

public youth leadership, he must build a strong institution that does not serve any partisan or political interests as well as rebuild the trust of Nigerian citizens (especially the youth population) around the credibility of the Commission.

The Commission is also many times judged according to Nigeria’s ranking on Transparency International’s Corruption Perception Index, which was at 149 out of 183 countries in 2020 - three places down compared to 2019 results.

According to Kurt Cobain, “The duty of youth is to challenge corruption”. Nigeria’s youth population is considered a prime audience for citizen engagement against corruption, and organizations and projects such as Yiaga Africa’s Bounce Corruption and the Strengthening Citizens Resistance Against Corruption (SCRAP-C) Projects, Connected Development (CODE)’s Follow the Money Projects, Accountability Lab and BudgIT reflect the role of youth and youth organizations in promoting citizen engagement against corruption.

A 2017 Chatham House Report on “Collective Action on Corruption in Nigeria: A Social Norms Approach to Connecting Society and Institutions” emphasizes that “messages targeted to engage Nigeria’s large youth population will be vital in inculcating a lower tolerance of corruption in the next generation. Social and community media can be effectively used to spread social norms messaging among the youth population, and over time this can have a positive influence on opinions and attitudes in wider society.

Ibrahim Faruk is a Program Manager with Yiaga Africa’s Governance and Development Program

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T H I S D AY ˾ MONDAY MARCH 8, 2021

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

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

Women Participation in Politics: On a Slow March In commemoration of 2021 International women’s Day, Udora Orizu writes that the Federal Government should ensure inclusion of more women in leadership positions, towards attainment of the 35 percent affirmative action

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upper house, again this translates to 16.3 percent.

In Burundi, 44 out of the in 121 seats in the lower house are occupied by women, this is 36.4 percent and they have 18 out of the 43 seats in the upper house which brings the percentage to 41.9. Even Zimbabwe with the sit-tight syndrome of its president has 85 seats for women out of the 270 in the lower house while the upper house is made up of 38 women of its 80 seats. The figure here is 31.5 and 47.5 percent respectively. Cameroon has 56 women out of 180 in its lower house while they have 20 out of 100 of the seats in the upper house, a representation of 31.1 and 20 percent. Kenya has 69 women of the 350 seats in the lower house and 18 out of 68 seats in the upper house.

This is 19.7 and 26.5 percents.

A place like Pakistan where women are adjudged as a group of people to be seen and not heard, has 70 women out of the 340 in the lower house while in the upper house, they occupy 19 out of the 104 seats, a percentage of 20.6 and 18.3 in all. Nigeria has 14 seats for women in the lower house out of 360 and 8 out of 109 in the upper house; these figures are sparing, 5.6 and 6.5 percents respectively. Again Cape Verde has the highest number of women in ministerial positions on the continent, with nine out of 17 ministers which represented 53 percent, South Africa, has 15 out of 36 ministers are women or 41.7 percent, Rwanda, has 11 out of 31, or 35.5 percent, are women, and Burundi, where 8 out of 23, or 34.8 percent of the total are women.

Without prejudice, many of these countries

if not all cannot be compared with Nigeria on any term. Africa and indeed the world see Nigeria as giant of Africa and big brother to all.

Some of these countries have also enshrined in their constitution that a certain percentage of elective positions be exclusively reserved for women, so only women occupies such seat because they alone can contest for them.

In Nigeria, the extant National Gender Policy (NGP) recommended 35% affirmative action and sought for a more inclusive representation of women with at least 35% of both elective political and appointive public service positions respectively.

The National Policy of Women that was adopted in 2000 reserved 30 percent for women under the affirmative action guidelines. In 2011, former President Goodluck Jonathan administration’s cabinet had women occupying about 33 percent of the positions and there were calls for him to make it up to 35 percent as obtainable in some African countries.

One of the promises of the President Muhammadu Buhari during his presidential campaign was to make his cabinet gender inclusive. He boldly told Nigerians that women will make up 35 percent of his cabinet as part of his commitment to take the country to the ‘Next Level’.

When the president finally rolled out the names of his ministers nearly two months after he resumed office in 2019, only seven women made the 44-member Federal Executive Council.

It may be tactical to include Folashade YemiEsan, Head of Service, increasing the number to eight. The new appointees have since been

cleared by the legislative chambers and assigned portfolios at a well-attended inauguration ceremony, held at the Presidential Villa in Abuja.

The positions assigned to the seven women include: Ministry of Women Affairs and Social Development; Ministry of Finance, Budget and National Planning; Ministry of Federal Capital Territory (State); Transportation Ministry (State); Ministry of Environment (State); Ministry of Humanitarian Affairs, Disaster Management and Social Development; and Ministry of Trade and Investment (State).

Those who were appointed to individually or jointly supervise the ministries respectively are: Pauline Tallen, Zainab Ahmed, Ramatu Aliyu, Gbemisola Saraki, Sharon Ikeazor, Sadiya Farouk and Maryam Katagum.

However, the numbers did not justify the earlier promise of the President. It showed that only 16.3 percent of women are represented as against 35 percent the president promised.

Inclusion of women in decision making positions in the Nigerian political system has been a contentious matter with eminent persons like Transportation Minister, Rotimi Amaechi arguing that women should stand up and fight for what they believe is theirs.

In a widely reported statement, the former governor of Rivers State urged women “to stop begging” for their entitlement. Aresearch carried out by the Commonwealth Local Government Forum in 2017-18 reveals a declining fortune for women in position of governance. “Following the 2015 election, 9.8 percent of councillors and 3.6 percent chairpersons were female, down from 12.5 percent and 3.9 percent in 2011 and 10.2 percent and 9.9 percent in 2007 respectively.

In the national parliament in 2015, 5.7 percent of seats were occupied by women.

The Independent National Electoral Commission disclosed that only 62 women out of the 2,970 who contested for different political offices in the 2019 general election were elected. A breakdown of the figure showed that while only seven women were elected into the Senate during the 2019 elections, the House of Representatives has 11 women. Four women were elected as deputy governors, 40 women were elected into the 36 state Houses of Assembly.

These revelations have been greeted with mixed reactions. Some advocates of women in politics like Chief Executive Officer, Nigeria Women Trust Fund (NWTF), Mufuliat Fijabi expressed disappointment over the number of women on the list, saying it was preferable to have at least 35 per cent representation of women.

“Sincerely, Nigeria is not practising what we would describe as inclusive democracy because of the almost absence of women. The president failed to keep his promise to have 35 percent of women in his cabinet. Although he hasn’t given reasons why he did that, in my

early on March 8, the International Women’s Day is celebrated globally and this year is no different.

The annual celebration is marked today, Monday March 8, with the theme, ‘Women in leadership: Achieving an equal future in a COVID-19 world.’

The theme for this year is apt and timely as it shines the spotlight on the barriers women are often faced with numerous challenges from sexism to prejudice, stereotype, bias and discrimination, when it comes to occupying leadership positions.

Since the return of democracy to the country in 1999, there has been growing concerns over low participation of women in both elective and appointive positions.

World over, women constitute over half of the population and contribute in vital ways to societal development generally. They assume key roles, which are; mother, caretakers, educators, entrepreneurs, political activists, just to name a few. But despite that, women are still being excluded, marginalised and underrepresented in political realms and other sectors of the society, due to some cultural stereotypes, abuse of religion, traditional practices and patriarchal societal structures.

Despite the barriers, women, especially young women, are in the forefront of diverse and inclusive movements for social change and we know that more inclusive leadership and representation leads to stronger democracies, better governance, and more peaceful societies.

This year’s International Women’s Day is a rallying cry to finally fully harness the power of women’s leadership to realise a more equal, more inclusive and more sustainable future.

Women must have the opportunity to play a full role in shaping the pivotal decisions being made right now as countries respond to and recover from the COVID-19 pandemic, choices that will affect the wellbeing of people and the planet for generations to come.

For instance, the proportion of seats held by women in national parliaments by percentage showed that out of 80 seats in Rwanda’s lower house, 51 are occupied by women which represents 63.8 percent while the upper house has 10 seats for women out of 26, and this is put at 38.5 percent. In Senegal, 64 women make up 42.7 percent of the total 150 seats in the lower house; and South Africa’ s lower house has 166 women out of 396 seats and 19 out of 54 in the upper house. These figures represent 41.9 and 35.2 percents respectively.

Namibia has 43 women in its lower house of 104 seats while 6 of the 26 seats in the upper house are occupied by them; this represents 41.3 and 23.1 percents respectively. In Ethiopia, 212 women are at par with their male counterparts in the lower house as their seat represent 38.3 percent of the total 546 seats while they sit majestically on 22 out of the 135 seats in the

A research carried out by the Commonwealth Local Government Forum in 2017-18 reveals a declining fortune for women in position of governance. “Following the 2015 election, 9.8 percent of councillors and 3.6 percent chairpersons were female, down from 12.5 percent and 3.9 percent in 2011 and 10.2 percent and 9.9 percent in 2007 respectively. In the national parliament in 2015, 5.7 percent of seats were occupied by women. The Independent National Electoral Commission disclosed that only 62 women out of the 2,970 who contested for different political offices in the 2019 general election were elected.

A breakdown of the figure showed that while only seven women were elected into the Senate during the 2019 elections, the House of Representatives has 11 women.

Four women were elected as deputy governors, 40 women were elected into the 36 state Houses of Assembly

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opinion, he didn’t fulfill his promise. He has only appointed a few women, which we thank him for; but he hasn’t fulfilled his promise to the Nigerian people,” she argued.

The issue of achieving the 35 percent affirmative action has been on the fore front for quite sometime. Back in December 2020, the female lawmakers in the Senate and the House of Representatives stepped up the push for greater representation of women in politics and other sectors of the society.

The lawmakers who expressed their views at the a 2-day training and advocacy workshop for federal and state female lawmakers on gender responsive legislation, in Abuja, called on President Muhammadu Buhari to forward an Executive Bill to the two chambers of the National Assembly on 35 percent affirmative action.

Recall that, in July 2017, the Senate voted against a proposal to alter the Constitution to provide for 35 percent affirmative action for women in federal and state cabinets. Atotal of 49 of the 96 senators present during the electronic voting on the bill to further amend the 1999 Constitution supported the proposal. Despite the slight majority, however, the proposal still failed as it came short of the 73 votes required to approve the affirmative action.

In their remarks, female lawmakers in both chambers of the National Assembly bemoaned frustrations from their male counterparts whenever issues affecting women were brought up for consideration during constitution amendment exercises.

Senator Oluremi Tinubu said male politicians will continue to frustrate any move to give women a special place in government without the intervention of Mr President.

She appealed to Buhari to send an Executive Bill to that effect and persuade the leadership of the National Assembly to pass it.

Also, speaking, the Deputy Chief Whip, of the House of Representatives, Nkeiruka Onyejeocha, said everything must be done to guarantee the place of women in politics.

She said, ‘’There are still too many obstacles restricting women in Nigeria. This is more prevalent and damaging in politics and governance. We keep women from participating in governance. The society suffers because of this.

It often feels as if our best days are behind us. I wholeheartedly support women’s participation in politics. I support and endorse moves to help women in government.’’

The significant impact on governance and nation-building, made by some women in Nigeria can never be overemphasized. For instance, Dr. Ngozi Okonjo-Iweala is one the eminent women in the global space. Okonjo-Iweala who served the nation as Finance Minister and Foreign Affairs Minister, is now the first female and the first African Director-General of the World Trade Organization (WTO). Also Kamala Harris made history as the first female Vice President of the United States of America.

raising nearly $50bn in 2010 from donors for the International Development Association (IDA), the World Bank’s fund for the poorest countries.

But it is her reform agenda in Nigeria in which she takes real pride - especially the two times she served as the country’s finance minister under Presidents Olusegun Obasanjo and Goodluck Jonathan.

One of her greatest achievements was leading a team which negotiated a whopping $18bn debt write-off in 2005 for the country, helping Nigeria obtain its first ever sovereign debt rating.

The country’s debts had dated back to the early 1980s, and had ballooned to more than $35bn due to penalties and late fees during the 1990s.

Her economic reforms had a far-reaching impact and saved Nigeria at a critical period, according to prominent Nigerian economist, Bismarck Rewane.

This included de-linking the budget from the oil price, allowing the country to save money in a special account when oil prices were high.

NRC chairman for Delta State. Thereafter, she was elected a member of the federal House of Representatives (1992–93) and was a member of the committee on devolution of power constituent assembly 1994–95.

She became involved in Bakassi affairs, and earned the nickname “Mama Bakassi’’.

Ita-Giwa was elected Senator for the Cross River South constituency in April 1999 and was appointed to committees on Rules and Procedures, Environment, Foreign Affairs, Women, Niger Delta and Drug & Narcotics.

After leaving the senate in 2003, she joined the People’s Democratic Party PDP, and became President Olusegun Obasanjo’s Special Adviser on National Assembly Matters. In May 2010, there were rumors that funds were missing from the account of the Bakassi Resettlement Committee, chaired by Ita-Giwa, who asked the Economic and Financial Crimes Commission to investigate the matter. Ita Giwa has worked against human trafficking and sex slavery.

Aisha Yesufu Yesufu, the hijab wearing revolutionary, is a Nigerian socio-political activist, and coconvener of the Bring Back Our Girls Movement, an advocacy group that brings attention to the abduction of over 200 girls, from a secondary school in Chibok, Nigeria, on 14 April 2014, by the terrorist group Boko Haram.

Yesufu was among the women protestors at Nigeria’s National Assembly, in the nation’s capital, Abuja, on 30 April 2014.

Yesufu has also been at the forefront of the End SARS movement, which draws attention to the excesses of a controversial police unit in the Nigeria Police Force, called the Special Anti-Robbery Squad (SARS). She said she would not leave the fight against End SARS protest in Nigeria for her children.

Some women who’ve made their mark in leadership Ngozi Okonjo-Iweala The 66-year-old is the first woman, and the first African, to occupy the position of DirectorGeneral of the World Trade Organization (WTO).

She studied at Harvard 1973-76 and earned a PhD at Massachusetts Institute of Technology (MIT) in 1981. Spent 25 years at the World Bank, rising to the No.2 position as managing director (2007-11) During her 25 years at the World Bank, she is credited with spearheading several initiatives to assist low-income countries, in particular

Josephine Anenih Josephine Anenih born in 1948 was appointed Nigerian minister of Women Affairs on 6 April 2010, when Acting President Goodluck Jonathan announced his new cabinet.

She was the chairperson of the Federation of Women Lawyers from 1994 to 2000, and was the first National Woman Leader of the People’s Democratic Party (PDP) from 1999 to 2005.

In April 2002, she said that implementation of the Sharia legal system in Kano State had ensured the promotion of women’s rights as dictated by Islam.

She co-founded the Women Foundation Nigeria, an organization to help Nigerian women exchange views on global women’s issues and to help empower women in politics.

She is a member of the Gender Electoral and Constitutional Memoranda Committee, which aims to incorporate women’s perspectives in Nigeria’s Electoral Laws and reforms.

Florence Ita Giwa Ita Giwa born in 1946 is a Nigerian politician, who was the Senator for the Cross River South Senatorial District of Cross River State.

Ita-Giwa joined politics and emerged as

Oby Ezekwesili Ezekwesili is a Public Analyst/Senior Economic Advisor, Nigerian chartered accountant from Anambra state.

She was a co-founder of Transparency International, serving as one of the pioneer directors of the global anti-corruption body based in Berlin, Germany. She served as Federal Minister of Solid Minerals and later as Federal Minister of Education during the second-term presidency of Olusegun Obasanjo. Subsequently, she served as the Vice-President of the World Bank’s Africa division from May 2007 to May 2012, later replaced by Makhtar Diop.

In March 2014, she delivered a keynote speech at the national summit of the All Progressives Congress (APC), the leading opposition party in Nigeria. She criticized the many cross-carpeting governors and urged the party to have “a conversation deeper than how you’re going to chase (the ruling) PDP out of power”.

In the aftermath of the nearly 300 mainly Christian girls were abducted from Chibok by the Islamist militant group Boko Haram. Oby used the Bring Back Our Girls (BBOG) advocacy group to draw global attention to the plight of all persons who have been abducted by terrorists from Nigeria’s war ravaged northeast region.

In Nigeria, the extant National Gender Policy (NGP) recommended 35% affirmative action and sought for a more inclusive representation of women with at least 35% of both elective political and appointive public service positions respectively. The National Policy of Women that was adopted in 2000 reserved 30 percent for women under the affirmative action guidelines. In 2011, former President Goodluck Jonathan administration’s cabinet had women occupying about 33 percent of the positions and there were calls for him to make it up to 35 percent as obtainable in some African countries. One of the promises of the President Muhammadu Buhari during his presidential campaign was to make his cabinet gender inclusive. He boldly told Nigerians that women will make up 35 percent of his cabinet as part of his commitment to take the country to the ‘Next Level’.

Aisha Halilu Buhari Aisha is the First Lady of Nigeria and wife of the current President Muhammadu Buhari, who assumed office on 29 May 2015.

Aisha Buhari is a vocal advocate of women’s rights and children rights, and this was a focal point during her campaign for her husband’s election in 2015. Aisha has, on several occasions, emphasized the need for young girls to get primary and secondary school education before getting married, saying that she believes no girl should get married before the age of 17.

In May 2015, on the sidelines of the Global Women Conference held in Buenos Aires, Argentina, she stressed the need for Nigerian laws that will protect the women from forced early marriages, sex trafficking and other issues Nigerian girls and women contend with.

Aisha raised concerns on child sexual abuse in Nigeria, sex trafficking and the need for legislation against early marriage.

On 12 June 2015, Aisha Buhari met with some mothers of the abducted Chibok Girls on 14 April 2016, and donated proceeds from her book to parents of the Chibok girls, the Buni Yadi boys murdered in 2014, and children suffering from malnutrition.

In October 2016, Aisha Buhari said that she would not back her husband in the next election unless he got a grip on his government. He responded that she belonged in his kitchen, saying “I don’t know which party my wife belongs to, but she belongs to my kitchen and my living room and the other room.”

Aisha Buhari surprised Nigerians when she made it known that her role as the wife of the president of Nigeria will be limited to whatever is constitutionally recognized, as she promised not to overstep.

Pauline Kedem Tallen Tellen is a politician and currently serving as Women Affairs Minister. She was appointed in 2019 by President Muhammad Buhari after turning down ministerial nomination in 2015 on the grounds that she was not consulted prior to the announcement of the appointment and that she would not accept the offer for equal distribution of power among the three senatorial districts of her native state of plateau because she is from same local government as Governor Simon Lalong.

In 1999, she was appointed Minister of state for science and technology, becoming the first woman to be appointed as a minister in that capacity by former president, Olusegun Obasanjo.

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T H I S D AY ˾ MONDAY MARCH 8, 2021

POLITICS

A Toast to be Free Without Being Loose Louis Odion, Senior Technical Assistant on Media to the President, commends Vice President Yemi Osinbajo to Nigerians and urges them to learn elegance in simplicity from him

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obriety - if not austere aloofness - would ordinarily appear the chief trait that defines a university professor. This probably explains why far less public attention is paid to his other proficiency: Master of spontaneous humour.

Answering a question during a campaign town-hall meeting in Benin City in 2015 ahead of the March 28 presidential election, petite vice presidential candidate, Yemi Osinbajo literally brought down the roof by describing himself and gangling General Muhammadu Buhari as “the long and short of the matter.”

Such witty facility was again very much on display years later during a gala night hosted in Port Harcourt by the Rivers State Government in honour of visiting the Vice President.

During the event, which has since been entered as part of Nigeria’s social media’s folklore, popular comedian, Klint Da Drunk, had sought to blackmail the guest after handing him N5,000 by quoting the Bible that “When you give, you’ll receive back, full measure, pressed down, shaken together and running over.”

Well, the solicitous comedian didn’t have to wait for too long to confirm his lottery. The Vice President soon replied him thus: “Everything has been going well until Klint Da Drunk gave me an expensive N5000. I’ve kept it close to His Excellency, the Governor, in case he asks for it back because he can say that ‘I was drunk when I gave you the money’. I must remind him that the scripture that he referred to which suggests that if you give, you’ll be given more, is when you give to God and not to an Ijebu man.”

The hall erupted in rapturous laughter.

Of course, in Yoruba-speak, parsimony is thought to be cultural to the Ijebu.

No less memorable was Professor Osinbajo’s masterclass at the state banquet held to mark the nation’s 58th independence anniversary in 2018. That night, guests were held spellbound as the Vice President gave a command performance in stand-up comedy on “Nigerian Swag” with the virtuosity only a few among even professional comedians could have mustered. For several minutes, the high-ceilinged banquet hall at Aso Rock literally quaked with delirious laughter, passed on to several millions of viewers at home through the live telecast of the event.

It was a chronicle of the dancing skills of some of Nigeria’s political and business leaders, backed with videos.

“No one dances like us,” he started by teasing sarcastically. “It doesn’t matter whether you’re the distinguished senator representing Kogi West or the distinguished senator representing Osun West.”

What began as knowing giggles across the gallery soon exploded into a big laughter when the giant screen on cue showed Dino Melaye and Ademola Adeleke gyrating giddily, as usual, in flowing Agbada to King Sunny Ade’s music. Followed by Aliko Dangote’s own swing in business suit. We also saw a clip of President Buhari’s rare public dance - a shy shuffle - in response to some praisesinging at a campaign rally. Followed by ex President Olusegun Obasanjo’s wild z-zag that appeared completely out of tune with the drumbeats.

Indeed, Prof’s capacity to give is evenly matched by the ability to receive.

When, for instance, Governor Nasir El Rufai of Kaduna State named him as the “President of Short Peoples Association of Nigeria” and Adams Oshiomhoke as PRO at a public event, the television camera caught him laughing heartily.

But joking is only a pastime. Only when the Vice President steps onto the lectern in the lecture circuits or chairs a typical executive meeting are folks reminded of the profundity of his thoughts. Just above

Osinbajo

that facade of geniality and conviviality surely towers a prodigious mind equally at ease with the most complex ideas and turgid concepts.

Such duality of gifts - being free without being loose, to be simple yet profound - is what ultimately defines the enigma of Professor Yemi Osinbajo and distinguishes him as arguably one of the few most engaging leaders in the nation’s history. Which partly explains why he is widely hailed as “Starboy” today. Through him, we learn elegance in simplicity; and that ideas, while being easily accessible, can still be profound without being pedestrian.

Rigor is simply second nature to him.

As close aides will attest, no one is ever sure of the final draft until Oga had finished speaking. Even while the event has started, he often continues to wrestle quietly with the speech on his i-pad, sometimes updating and clarifying the copy in light of matters arising, until invited by the master of ceremonies to speak.

Such is the intensity of his sense of spontaneity and clinical attention to details.

At he turns 64, Prof surely means different things to different folks. To the immediate past Emir of Kano, Muhammad Sanusi (Sarkin Kano), he “has remained

humble, caring, forgiving, honest and loyal.” Scholar and gifted international orator, Professor P.L.O Lumumba, had this to say on the occasion of his 63rd birthday: “Men invariably rhapsodize fellow men in death and vilify them while alive. I choose to lionize you for your contribution to Nigeria and the world.”

According to Mrs. Ibukun Awosika, Chairman of First Bank: “An excellent child of God, an excellent leader in character, integrity of purpose and diligence in his assignment and so much more.”

Dr. Ola Brown, CEO of Flying Doctors said of him, “I’ll like to really thank him for inspiring every young person in Nigeria.”

Varied as perceptions of Prof might be, there is however one point almost everyone is agreed: he brings scholarly anchor and clarity to bear in policy formulation and execution by the administration.

Indeed, long after the Abuja bureaucrats had closed for the day, the No. 2 Citizen will often be found dissecting files in late hours in the halo of reading lights in the office, pince-nez balanced precariously on his nose’s tip. Those who, therefore, measure the stress of office by how rapidly his hair has turned grey may not be too far off the mark.

Nowhere is that brilliance and dili-

Indeed, long after the Abuja bureaucrats had closed for the day, the No. 2 Citizen will often be found dissecting files in late hours in the halo of reading lights in the office, pince-nez balanced precariously on his nose’s tip. Those who, therefore, measure the stress of office by how rapidly his hair has turned grey may not be too far off the mark.

Nowhere is that brilliance and diligence more poignant than in his leading the team that fashioned the economic blueprint that bailed the nation out of a crushing recession, far earlier than projected by financial experts. Frighteningly enough, the 2020 recession descended barely two years after the nation limped out of an “economic pestilence” inflicted by the steep crash in global commodity prices in 2014/15, described as the “worst since 1982.”

gence more poignant than in his leading the team that fashioned the economic blueprint that bailed the nation out of a crushing recession, far earlier than projected by financial experts. Frighteningly enough, the 2020 recession descended barely two years after the nation limped out of an “economic pestilence” inflicted by the steep crash in global commodity prices in 2014/15, described as the “worst since 1982.”

The committee set up by President Buhari following the outbreak of COVID-19 last year had proposed a N2.3trillion stimulus programme named Economic Sustainability Programme (ESP).

In conception and execution, ESP followed the Keynesian model propounded

by British economist, John Maynard Keynes, following the Great Depression of the 1930s. In short, ESP set out to reflate the economy aggressively by putting money in people’s pocket through a variety of measures ranging from cash handouts to the most vulnerable to soft loans to small and big businesses.

It is a measure of the efficacy of its prescription and a great tribute to the leadership provided the economic team by the Vice President that Nigeria’s economy recorded a marginal recovery of .11 percent growth for the last quarter of 2020, having suffered negative growth in the two preceding quarters consecutively.

Indeed, miracles don’t happen in economics; the trophies are earned.

Clear-thinking must be backed up with scrupulous execution and diligent follow-up.

Why Nigeria’s recovery is particularly significant is that it came when almost all the big economies around the world (except China) are still in severe dire straits caused by C-19 pandemic, with many thinking their earliest possible date of recovery will be next year.

In a way, ESP’s relative success must be bad news to Prof’s traducers who had interpreted the setting up of the presidential economic advisory council in October 2019 as a diminution of his powers as the statutory head of the national economic council, blissfully ignorant of the uncommon chemistry between the President and his deputy. Rather than be distracted, the Vice President simply kept his eyes on the ball, thus demonstrating practically that nothing could come between him and his boss as far as achieving the administration’s objectives is concerned.

On a final note, a character sketch of Prof will be incomplete without due reference to his instinctive compassion.

While visiting blighted communities in insurgency-ravaged Borno early in the life of the administration, he was sufficiently moved enough to personally undertake the mobilisation of funds thereafter from friends to set up a charity body devoted entirely to taking care of orphans.

The initiative is called North-East Children Trust (NECT) and has been involved with establishing learning centres providing comprehensive support to children between ages of five and eighteen years made vulnerable by the conflict in the North-East.

When in March 2020 the outrider of his motorcade, Inspector Ali Gomina, died in a fatal accident on the road to the Nnamdi Azikwe International Airport, Abuja, the distraught Vice President instantly cancelled the trip and personally visited the deceased’s home to console the family he left behind. Six months later, he fulfilled his promise by handing over the keys to a brand-new bungalow he built for the grieving family in their community, Gui, in the Abuja Municipal Area Council of the Federal Capital Territory. The community also received a gift of six blocks of classrooms.

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MONDAY MARCH 8, 2021 •T H I S D AY

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T H I S D AY ˾ Ͷ˜ 2021

BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

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REPO 16.33 15.33

CALL 1-MONTH 3-MONTH

12.50 9.50 11

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Group Business Editor Obinna Chima

Email obinna.chima@thisdaylive.com 08152447875

M A R C H

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

564.82% -0.14% -0.14

5 ,

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

2 0 2 1

- 15.73% - 15.73%

EXCHANGE RATE N379/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes LAPO MFB Wins Award

OVERSIGHTVISIT

L-R: Members Senate Committee on Aviation, Senator Sadiq Umar; Senator Abba Moro; Senator Abiodun Olujimi; Chairman Senate Committee on Aviation, Senator Smart Adeyemi and Managing Director, Federal Airport Authority of Nigeria (FAAN), Capt. Rabiu Yadudu, during the oversight visit of the Senate Committee on Aviation to Aviation at Murtala Muhammed Airport, Ikeja, Lagos...recently.

KOLAWOLE ALLI

NERC: Three Million Electricity Meters Obsolete, Due for Replacement Chineme Okafor in Abuja The Nigerian Electricity Regulatory Commission (NERC) has disclosed that three million meters in use by the electricity distribution companies (Discos) are outdated and due for replacement.

The commission also stated that the Discos would have to prioritise deployment of new meters to seven million of their unmetered consumers in the new National Mass Metering Program (NMMP) funded by the Central Bank of Nigeria (CBN) and the World Bank.

It disclosed this in a document signed by its chairman, Mr. Sanusi Garba and the commissioner in charge of legal, licensing and compliance, Mr.

ECONOMY Dafe Akpeneye.

The document was a directive from it on structured replacement of faulty and obsolete end-use customer meters in the networks of the Discos.

According to the NERC, the Metering Code (MC) expects that the industry will be serviced with modern accurate metering systems with reliable communication facilities across its value chain.

This, it noted was to accurately measure and record energy production and utilisation as well as ensure the sector’s financial viability. However, the NERC’s document suggested that this is not the case in the sector now.

“Meters serve as a revenue assurance tool for NESI service providers and a resource management tool for end-use customers that receive services.

“The commission notes that over seven million customers are currently unmetered as indicated by customer enumeration data.

It is also estimated that an additional three million meters are currently obsolete and due for replacement,” it said.

It also explained that the existence of a large population of unmetered customers contributed to threats affecting the financial viability of the country’s power sector.

Unmetered end-use customers, it stated, have expressed deep dissatisfaction with the estimated billing methodology of the

Discos, hence, “the revenue assurance objectives of Discos have also been challenged by being unable to properly account for the utilisation of electricity by end-use customers.”

The NERC further stipulated that Discos shall grant priority to the metering of unmetered customers under the NMMP before seeking to replace obsolete meters in their networks.

“Discos may replace faulty/ obsolete meters under the National Mass Metering Program but these replacements must be done in strict compliance with the Metering Code and other regulatory instruments of the commission,” it said.

To accomplish this, it stated Continued on page 24

Market Declines Further as Investors Ignore Companies’Results Goddy Egene The stock market declined further last week as investors ignored the corporate results and dividends being declared by companies.

The market, which lost N1.364 trillion in month of February, shed N245 billion last week while the benchmark index declined by 1.18 per cent to close at 39,331.61.

The continuing bear run is persisting despite the inflow of corporate results by companies. It was expected that the declaration of dividends by companies would stop the bears.

Analysts at Cordros Securities had said they expected the NSE floor to be flooded with corporate earnings as more companies publish their audited FY 2020 numbers, accompanied by dividend declarations.

“We believe this should provide respite for market performance.

However, we expect intermittent profit-taking activities to continue

CAPITAL MARKET due to lingering concerns about yield elevation in the FI market.

As a result, we think the local bourse will likely exhibit a zig-zag pattern. “Notwithstanding, we advise investors to take positions in only fundamentally justified stocks as the unimpressive macro story remains a significant headwind for corporate earnings,” analysts had said.

In spite the decline, the volume and value of trading rose last week as investors traded 2.092 billion shares worth N29.744 billion in 24,238 deals compared with a total of 1.930 billion shares valued at N20.656 billion that exchanged hands week in 24,687 deals the previous week.

But the Financial Services Industry remained the led the activity chart with 1.633 billion shares valued at N10.727 billion

traded in 13,269 deals, thus contributing 78.06 per cent and 36.06 per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 92.009 million shares worth N4.521 billion in 4,168 deals, while the third place was occupied by Oil & Gas Industry with a turnover of 91.340 million shares worth N10.527 billion in 1,471 deals.

Trading in the top three equities namely Wema Bank Plc, Axamansard Insurance Plc and Zenith Bank Plc accounted for 903.561 million shares worth N5.564 billion in 4,017 deals.

The price movement chart showed that 14 equities appreciated in price during the week, lower than 20 equities in the previous week, while 71 equities depreciated in price, lower than 43 equities in the previous week.

Morison Industries Plc led the price gainers with 20 per cent,

trailed by Skyway Aviation Handling Company Plc with 9.5 per cent. Unity Bank Plc appreciated by 8.9 per cent, just as Beta Glass Plc went up by 8.0 per cent.

LASACO Assurance Plc garnered 5.6 per cent, just as BUA Cement Plc, African Prudential Plc and University Press Plc garnered 3.8 per cent and 3.4 per cent in that order. Learn Africa Plc and CAP Plc gained 2.8 per cent and 2.5 per cent respectively.

Conversely, Champion Breweries Plc led the decliners with 33.3 per cent, followed by Japaul Gold & Ventures Plc with 28.9 per cent.

Ardova Plc shed 25.2 per cent, while Oando Plc and NASCON Allied Industries Plc went down by 23.1 per cent and 19 per cent in that order.

Other top price losers included: Associated Bus Company Plc (17.6 per cent); Cutix Plc 14 per cent);

LAPO Microfinance Bank has emerged winner of the ‘Most Supportive Bank Year 2020’ award category, during the Central Bank of Nigeria (CBN) Agricultural Credit Guarantee Scheme Funds (ACGSF) Farmers’ Award held recently.

The bank had in 2012 joined the Agricultural Credit Guarantee Scheme Fund (ACGSF) to provide credit support to farmers across the country in a sustainable manner.

In a signed statement by the company’s Head of Communications and Branding, Oluremi Akande, the company revealed that between January 2012 and December of 2020, it disbursed over N27 billion to its customers and has presence in 34 states, including the FCT, with a reach of over 34,000 farmers and agro-allied operators across Nigeria.

According to Akande, “to achieve sustainable economic growth requires amongst other things a healthy and productive manpower.

Our partnership with the ACGSF is strategically aimed at economic empowerment of farmers, food sufficiency, healthier and productive citizens leading to economic growth and prosperity.

“In the ACGSF Farmers Award 2020, State Category, LAPO MfB supported 46 Winners and Runner Ups out of the total number of 86 awardees representing 53 per cent of the entire award recipients in the country.

“We plan to disburse over N12 Billion in 2021 to empower more farmers and to contribute to national economic growth.

“We remain committed to our over 30 year’s mandate of social and economic empowerment of members of low-income households, farmers and owners of micro, small and medium enterprises in Nigeria.”

‘‘WemaInvestigatingVerbalAbuseAllegation’’ Wema Bank Plc has said it is investigating an allegation of verbal abuse levelled against a staff of the bank on social media.

The bank explained this in a statement.

It explained: “Our attention has been drawn to an allegation of verbal abuse levelled against a staff of Wema Bank on social media, allegedly following some information from staff. At Wema Bank, our staff are our most valued assets and we treasure them greatly.

“Equality, fairness, and respect are the gold standards of our practice, operations, and relations with both internal and external stakeholders at Wema Bank. These are firmly rooted in our values spanning over 75 years of existence.

“We respect and uphold the rights and dignity of all members of staff, irrespective of their age, gender, or position in our organisation. Their contributions to the growth of the business and the success of our customers across all our business touch-points are of immense value.

“Wema Bank assures all our stakeholders that the issue which was already being investigated at the highest level of the organisation will receive appropriate redress that will be comforting to the affected parties. We nevertheless thank the stakeholders for their patience as we conclude our investigations.”

Polaris to Reward More Customers

Polaris Bank has said it is set to unveil the second set of winners in its ongoing, ‘Save & Win Millionaire’ promo.

At the maiden draw which took place last month, Mr. Lucky Okunzuwa, a customer with the Bank’s Akpakpava branch, Benin City in Edo State, had emerged as the first millionaire of the promo.

In a statement, the bank noted that like the first draw, the second set of winners would be determined through an electronic draw where another millionaire and 60 other Nigerians would emerge winners with N100, 000 consolation prize money each.

The bank also urged Nigerians to still save a minimum incremental sum of N10, 000 in three consecutive deposits of the remaining promo period, to qualify and be one of the eight lucky winners to emerge millionaires in the promo.

The nationwide savings promotional campaign was expected to give away N26 million in total to the bank’s existing customers and who emerge winners. Eight millionaires will emerge altogether alongside 180 lucky customers who would be rewarded with consolation cash gifts of N100,000 per person, it added.

“Customs have committed to providing scanners in 2021. They have done the procurement. They commit to having the scanners delivered this year. We will have scanning services done. Now they do it physically” MD, NPA,,

Continued on page 24

Hadiza Bala-Usman

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BUSINESSWORLD NERC: THREE MILLION ELECTRICITY METERS OBSOLETE, DUE FOR REPLACEMENT that Discos must install new meters upon the removal of the faulty or obsolete meters from their consumers, adding that, “under no circumstances shall the customer be placed on estimated billing on account of the Disco’s failure to install a replacement meter after the removal of the faulty/obsolete meter.”

It informed that consumers have repeatedly complained about Discos’ notice to replace their meters without appropriate review of the faults of their meters and subsequently placing them on estimated billing.

To this, the NERC said the Discos would be violating its regulations by failing to satisfactorily establish the true operational state of consumers’ meters.

“Customers shall only be billed for loss of revenue where the Disco establishes meter tampering, by-pass or unauthorised access as contained in NERC order on unauthorised access, meter tampering and bypass,” it added.

MARKET DECLINES FURTHER AS INVESTORS IGNORE COMPANIES’ RESULTS

Sterling Bank Plc (14.0 per cent); Wema Bank Plc (12.7 per cent); Mutual Benefits Assurance Plc (12.5 per cent).

The Chief Executive Officer of the NSE, Mr. Oscar Onyema, recently expressed optimism that the market would record another impressive performance in 2021, saying the exchange would consolidate on the benefits of demutualisation.

Speaking during the virtual presentation of the 2020 market recap and 2021outlook, Onyema said the year has started on a positive note as the ASI has already returned 1.72 per cent after nine trading sessions.

“We expect the marginal reopening of businesses, normalisation of the economy and revenue-diversification drive of the Nigerian government to elicit positive sentiments throughout the year,” he added.

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nosa Alekhuogie (ICT) Peter Uzoho (Energy)

NEWS

AfDB Offers SEC $400,000 Grant for Capital Market Devt Goddy Egene The African Development Bank (AfDB) Group last Friday signed a $400,000 grant agreement with the Securities and Exchange Commission (SEC) of Nigeria to strengthen securities markets regulation and broaden market instruments.

The funds will go towards strengthening risk-based supervision framework, regulation of derivatives and green bonds, and build capacity for green finance.

The grant will be sourced from the Capital Markets Development Trust Fund, a multi-donor fund administered by the bank.

Speaking on the development, the Senior Director, AfDB Group, Mr. Lamin Barrow, said: “We are very delighted to sign this agreement, which enable us accelerate the implementation of key initiatives.

“The grant will enhance the capacity of the SEC in risk-based supervision framework for the financial and securities market, strengthen operational readiness in the areas of risk-based publishing, derivatives and green bonds trading market. “It will provide capacity building and training programmes for the NSE, issuers and institutional investors on green bonds, as well as market operators and regulators from the wider Economic Community of

West African States (ECOWAS) region. “Experience has shown that countries with developed domestic capital markets have posted stronger economic growth and structural transformation and that is why AfDB Group is supporting the emergence of a well-functioning and resilient financial and capital market in African countries through various mechanisms.”

Also speaking, the Director-

General, SEC, Mr. Lamido Yuguda said SEC was focused on capacity development as a catalyst to drive the actualisation of the 10-Year Capital Market Masterplan 2015 – 2025.

Consequently, SEC designed a targeted training programme to address gaps in regulation and market development to enhance the commission’s readiness to effectively regulate new products and promote the

growth of the capital market.

Some of the initiatives include the procurement of surveillance solutions, capacity building in the areas of risk based supervision, green finance and derivatives.

He said realising that the focus areas align with AfDB’s high five priority sectors for the economic transformation of Africa, “we leveraged our strong partnership with AfDB to drive some of these key initiatives to

strengthen internal and issuers’ capacity.”

He added: “We are pleased and thankful to AfDB for providing the grant and supporting in the execution of this project.

We believe your support and our collaboration underscore the commission and the bank’s mutual goal to grow the capital market and create viable avenues for sustainable economic growth for Nigeria and the region.”

SENSITISATIONFORUM

L-R: Special Adviser on Operations LASAA Mr. Adegbolahan Dixon; Managing Director, Mr. Adedamola Docemo and Deputy General Manager, Corporate Communication&Strategy,Mr.Temitope AkandeduringanawarenessandregistrationcomplianceexerciseoftheagencyinLagos…recently

SON Approves 96 New Standards to Safeguard Consumers James Emejo in Abuja The Governing Council of the Standards Organisation of Nigeria (SON) has approved the introduction of 96 new Nigerian Industrial Standards for national use.

The standards cut across chemical technology, electrical/ electronics, food/agriculture, textile/leather and services.

The approval which was granted at the first meeting of the council following the appointment of Mallam Farouk Salim as the

director general of the agency.

The latest additional brought the total number of standards so far approved by council to 264, following the 168 earlier approved.

A statement by SON’s spokesman, Mr. Bola Fashina, stated that chairman of the council, Dr. Nasir Sani-Gwarzo, particularly commended Salim for being able to convene the council meeting few months after his appointment in spite of the challenges of the health pandemic and other socioeconomic events.

He said the newly approved standards were significant given the scope of their coverage, especially those essential for the production of medical and other supplies required for the management of the COVID-19 pandemic such as syringes, face barriers, alcohol based hand sanitizer, medical electrical equipment, health and safety measures for tourism and hospitality establishments - post pandemic, resumption among others.

Others included standards for agricultural, petroleum and automobile gas products, electrical/electronic standards for smart energy meters and renewable energy, all of which support the federal government policies, strategic priorities and plans.

Represented by Dr. Halilu Hamma, the chairman formally congratulated Salim on his appointment and assured him of the full support of the council members via a harmonious

working relationship based on mutual trust and respect in order to significantly improve the organisation’s efficiency and effectiveness in delivering on its mandate to Nigerians.

Gwarzo, however, assured the new SON chief executive of access to a rich and diverse knowledge, expertise and experience in the council to support his aspiration of making the agency a high impact organisation in support of the country’s socio-economic growth and development.

Okoloko Retires after 16 years as Notore CEO Nigeria’s agro-allied company, Notore Chemical Industries Plc has notified the Nigerian Stock Exchange (NSE), its shareholders and the general public of changes to its management.

With the change, Mr. Onajite Okoloko has retired as the company’s Group Managing Director and Chief Executive Officer.

His resignation, according to a notification to the NSE, became effective from January 31st, 2021, after serving in the capacity for 16 years. He will remain on the Board of the Company as a

non-Executive Director.

Okoloko had in 2005, assembled a team of investors to acquire the assets of the former NAFCON and as a core investor, partnered with a consortium that included Emerging Capital Partners, a major private equity firm out of Washington, D.C., USA., and OCI Fertilizers BV, owned by the Orascom Group, on the deal. He later successfully led the completion of the largest single loan syndication of Nigerian banks at the time, when Notore raised $222 million from seven Nigerian financial institutions.

Mr. Ohis Ohiwerei has since taken over from Okoloko as the Group Managing Director and Chief Executive Officer of the company, effective February 1, 2021. Ohiwerei was formerly an Executive Director and the Deputy Managing Director of the Company.

Prior to joining the company in 2018, he served in executive capacities in Guaranty Trust Bank Plc and Diamond Bank Plc. Ohiwerei was the Chief Financial Officer of Diamond Bank Plc and later became

Executive Director, Corporate Banking of Diamond Bank Plc from 2005 - 2010.

In October 2011, he was appointed as an Executive Director of Guaranty Trust Bank Plc, where he was responsible for Commercial Banking and Public Sector, Lagos Division for four years, until his retirement from the Bank in October, 2015. The other new appointee was Mr. Ebiaho Emafo, who joined the Notore Board as an Executive Director and the Chief Operating Officer, effective February 1, 2021.

Also, Mr. Tijjani St. James has assumed a new role as the Chief Commercial Officer of the company, effective February 1, 2021.

“The role of the Chief Commercial Officer has been created to replace the existing Group Head, Commercial Services role, in light of the expanded commercial activities which include not only the Company’s traditional Urea sales, but also the newly introduced Notore NPK fertilizers marketing; sales and distribution; Notore Seeds and the Notore Rice initiative.

LASAA Commence Campaign on Regulation of Outdoor Adverts The Lagos State Signage and Advertisement Agency (LASAA) has commenced the first phase of an awareness campaign to sensitise members of the public on the need for compliance with regulations guiding outdoor advertisement in the state.

A statement explained that the

regulations cover on-premise and off-premise signage displays as well as registration of mobile adverts.

Speaking during one of the agency’s awareness campaign in Lagos, Managing Director of LASAA, Prince Adedamola Docemo, said it was important to

sensitise members of the public on the need to comply with the LASAA law before the agency begins enforcement.

He noted that the exercise would provide another opportunity for LASAA to remind clients on the importance of always being on the side of

the law as good individual and corporate citizens.

He urged Lagosians to cooperate with LASAA so that the state government can successfully deliver the dividends of democracy to them through its revenue optimisation effort.

Also speaking, the Deputy General Manager, Corporate Communication and Strategy of LASAA, Mr. Temitope Akande, noted that the agency has a tradition of embarking on an awareness campaign to clients and the public in general in February and March every year.

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Charting Path for Sustainable Economic Growth Despite the uncertainties created by the coronavirus-related disruption, policymakers must work towards placing the economy on a sustainable growth path, writes Obinna Chima

N

otwithstanding that Nigeria recently exited recession by recording a slim growth in its fourth quarter (Q4) 2020 Gross Domestic Product (GDP), the economy is still not out of the woods.

Although the GDP figures released by the National Bureau of Statistics (NBS) had shown that the country recorded a positive growth rate of 0.11 per cent (year-on-year) in real terms in Q4, there are still concerns about the country’s pale growth which remains far below its population growth level.

In addition, the rising incidence of insecurity in the country, inflationary pressure, high unemployment and poverty rates are factors that have been constraining economic growth.

It is noteworthy that the economy had slumped into recession last year, the second in five years, after two consecutive quarters of contraction. The economy entered into a recession when growth contracted by 3.62 per cent in Q3 and grew by -6.10 per cent in Q2.

Expectedly, the positive growth recorded in Q4 was a reflection of the gradual return of economic activities following the easing of restriction of movements and limited local and international commercial activities in the preceding quarters.

But even though the economy slowly crawled out of recession, there are evidence to show that Nigeria is afflicted by general poverty, with abject poverty in the North-eastern part of the country, among other socio-economic challenges.

Levers for Economic Recovery In order to propel economic growth, the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has pledged that the regulatory institution would adopt accommodative monetary policy stance in 2021.

He expressed optimism that with the discovery and deployment of vaccines worldwide, 2021 would be a year of massive global recovery and Nigeria must not be left out.

“In order to drive and sustain this recovery therefore, we need to sustain the accommodative fiscal and monetary policy measures aimed at improving access to finance for households and businesses.

“Secondly, we must prevent a resurgence in Covid-19 related cases. Thirdly, we must ensure that a significant number of our population is significantly vaccinated and also improve foreign exchange inflows into our country,” he added.

Furthermore, he pledged that the CBN would ensure improved foreign exchange inflows into the country going forward.

He said the central bank would prioritise intervention in key sectors of the economy such as agriculture, information communication technology and manufacturing, which are growth enablers.

“These measures are essential if we are return our economy to a sustainable growth path, while reducing our exposure to volatility in commodity prices. “While accommodative monetary policy measures that will support growth remain paramount in our priorities for 2021, we would continue to pay attention to trends in inflation, as price stability is critical in guiding savings and investment decisions by households and businesses.

“As indicated earlier, the agriculture sector was a key driver in taking the Nigerian economy away from negative growth in the fourth quarter of 2020.

It is important that we not only sustain measures aimed at increasing productivity of the sector, but also ensure that we continue to produce items that can be produced locally rather than resorting to imports of these items.

“More importantly our agricultural sector also offers significant opportunity for the nation to earn foreign exchange through the exports of processed agricultural products. “Over the next three years, we will continue to encourage the banking sector to increase its loans to the agriculture sector from four per cent to 10 per cent by 2024.

“We are also pursuing an in-depth restructuring of the Nigeria Commodities Exchange Board in order to improve access to finance as well as productivity for stakeholders in the agriculture sector. With enhanced logistics and the provision of warehouse receipts through the Commodities Exchange, farmers will be able to access finance, expand production and supply needed goods to off-takers,” he added.

According to Emefiele, the ICT sector which has emerged as a significant source of resilience

in mitigating the impact of COVID-19 on the economy, saying that the CBN would in 2021, seek to encourage banks and other financial institutions to leverage ICT in improving penetration of financial services to households and SMES, while supporting productivity across key sectors in the economy.

Commenting on efforts to give infrastructure in the country a facelift, the CBN Governor noted that with the decline in revenues due to federal and state government, alternative ways of funding infrastructure remains critical if the government was to generate sustained growth of our economy.

He said the CBN would support measures that would significantly improve the country’s non-oil export earnings.

As a result of this, he said the CBN intends to aggressively implement its N500 billion facility aimed at supporting the growth of our non-oil exports, which would help to improve non-oil export earnings.

“Exporters will be further encouraged to repatriate their export proceeds as stipulated under our extant laws. The CBN will continue to ensure that exporters have unfettered access to their export proceeds.

“The CBN has already taken several measures to increase the flow of diaspora remittances into the country using formal channels. In December 2020, we instructed all international money transfer operators (IMTOs) to provide remitters with the option of sending foreign exchange to beneficiaries in Nigeria. This new measure has helped to reduce the diversion of forex by some IMTOs, who had thrived from forex arbitrage arrangements, rather than on improving transactions volumes to Nigeria.

Indeed, we have already seen remittances improve from a weekly average of about US$5 million before this policy, to over US$30 million per week,” he added.

Achieving Sustainable Growth To the Chairman of President Muhammadu Buhari’s Economic Advisory Council, Dr. Doyin Salami, embracing mechanised form of agriculture will enhance job creation, improve the security situation in the country as well as ensure human capital development.

In order to achieve sustainable economic growth in the country, Salami also called for an improvement in the state of healthcare in the country, just as he lamented that 60 per cent of agricultural output is lost due to poor storage facilities in the country.

“Nigeria’s infrastructure master plan requires us to spend $3 trillion over 30 years and that is about $100 billion a year. Our total foreign direct investment and foreign portfolio monies would not be more than $20 billion.

“The biggest challenge and which I think we must overcome is that challenge of predictability.

Investors are afraid of Nigeria and very few can predict can predict what we would do next and they are unwilling to take the risks.

“For as long as we are perceived as a risky alternative, for so long are we not going to make the progress that we desire to make,” he added.

He pointed out that between 2000 and 2012, per capita income in dollar terms in Nigeria was about 10 per cent. The challenge that such growth, even though rapid, was not inclusive and didn’t

create jobs, and simply widened the inequality and income disparity gaps.

Salami, revealed that in 30 years, China went from approximately $360 in 1990, such that by 2020, the country was about $10, 700, which was a 30 fold increase.

“The key question is: Can Nigeria do this and if yes, what does she need to do? A couple of issues are involved. Firstly, the Nigerian environment must be secured. I don’t just mean territorial security, I mean security of transactions and respect for various laws.

“Beyond that, we ought to understand that Nigeria is a capital deficient country and must position herself to effectively compete for capital.

“Nigeria requires investment, more investment and even more investment. On the fiscal side, a couple of things are required. If you ask in Nigeria how is the budget doing, you are told how much has been spent.

“But they seek to forget that the spending was supposed to achieve certain outcomes; we seldom discuss what those outcomes are,” Salami said.

The economist stressed the need for government spending to be effective and more efficient, saying it was imperative to redefine the focus of government spending.

Furthermore, Salami said there was need for government to facilitate a regulatory environment that promotes capital mobilisation.

Security, ensuring an environment that is able to mobilise capital and concentrating on human capital development are the three key imperatives that the fiscal side must focus on, he said.

“Beyond the fiscal side, how do we mobilise capital? In my view, I am very clear about this.

Nigeria has to face squarely the challenge of markets and understand that market could fail.

“Which is where the role of the regulatory environment is important. But we have to understand that predictability is at the heart of capital mobilisation.

“In the absence of a stable macroeconomic environment, we are going nowhere,” he emphasised.

According to the economist, any inflation number that is beyond 12 per cent is bad for the economy, saying there was need to moderate cost in the country.

“We ought to manage population. We cannot continue allowing population grow at the rate at which it is growing. Education and access to education has to be enhanced.

“There is need for a linkage between agriculture and manufacturing to create the much-needed jobs.

Also, education is hugely correlated with healthcare outcomes. When you educate people, they make better choices that includes healthcare.

“I don’t see any reason why having put rail lines, we are not beginning to think about how to concession it so as to recover most of the investments that had been made,” he added.

In his contribution, the Executive Secretary, Northeast Governors Forum, Senator Muhammad Abba-Aji, decried the poor bank lending to farmers in the northern part of the country.

According to him, the mainstay of the economy of the region is agriculture, saying that inadequate financing has continued to bedevil the sector.

He argued that poor banking support for

agriculture in northern Nigeria has created a weak agricultural system in the region.

“Banks being the institution of financial intermediation are expected to assist agriculture by providing financing. This has remained one of the root causes of poverty, particularly in the rural areas.

“I therefore make a passionate appeal to all bankers to liberalise their lending policies to northern Nigerian farmers and other entrepreneurs. This is also a region that is blessed with valuable minerals such as gold, barite, zinc, limestone, lead, and other previous stones and yet, poverty pervades.

“This is because most of its largely agrarian entrepreneurs who are rural area dwellers could not be engaged in the formal system due to opportunity bias created by the banks,” he said.

He maintained that the paradox remains that the northern Nigeria is not under banked; even though almost every bank have branches in northern Nigeria.

To the Managing Director, Financial Derivatives Company Limited, Mr. Bismarck Rewane, inflation above 12 per cent is growth retarding. Therefore, he called for measures to control inflation.

“But there are many factors affecting inflation – from supply chain destruction, output destruction, money supply growth, crowding out of private sector by public sector borrowing and so many other variables.

“If you were growing rapidly, it would have been easy to manage inflation. But if you are not growing rapidly, then you have a problem.

“We need to synchronise inflation, national savings, investment and growth without which we may have partial equilibrium; and what we need is general dynamic equilibrium,” he recommended.

The Director General, Budget Office, Mr. Ben Akabueze, highlighted the benefits of economic growth.

He explained that with the population growing at nearly three per cent, “until we see growth above that three per cent threshold, most people would not feel it.”

“Nigeria critically needs far more revenue than we are currently generating. Indeed the capacity exists to boost revenue, so we need to take measures to increase revenue.

“Government does not have the resources required to fund growth. There are a number of measures being put together to improve revenue.

“We need to improve tax administration, but also we need to plug all the fiscal drainers, especially the regressive energy tariff, whether it is on petrol or on electricity.

“These are costing us significantly and reducing our capacity to create revenue, importantly, minimizing investments into those sectors.

“Sustained growth performance requires continuous investments in a more conducive economic environment. So, restoring and accelerating growth in Nigeria would require a lot of resources. The way government has been financing its project and programme is not sustainable,” he added.

Therefore, as the country grapples with headwinds, policymakers need to look ahead and deploy measures to build a smarter, more equitable and sustainable economy. This would help to chart a path to a more resilient recovery.

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Otti: Improved Productivity, Revenue‘ll Drive Nigeria’s Economic Growth For a long time, Alex Otti’s name was synonymous with banking. He did so well as a banker that he rose to the position of the Managing Director of the defunct Diamond Bank Plc. But to the chagrin of his fans, he resigned from his plumb job as the MD of the bank to venture into politics.

His resignation had been greeted with mixed feelings. In particular, the fears in some quarters were that the Abia State-born gentleman is too polished for the murky waters of Nigerian politics.

But he seemed to have thought it out, and was resolved to contest for governor of Abia State.

Even though he contested for the governorship seat of Abia State on two occasions and lost in controversial circumstances, he is undaunted. He fielded questions on sundry issues bothering the country with Davidson Iriekpen. Excerpts:

W

medicine, all depends on political decisions.

The political illiterate is so stupid that he is proud and swells his chest saying that he hates politics. The imbecile doesn’t know that, from his political ignorance is born the prostitute, the abandoned child, and the worst thieves of all, the bad politician, corrupted and flunky of the national and multinational companies.”

Need I say more?

hat was your reaction to CBN’s order to banks and other financial institutions to close customer accounts used in trading cryptocurrencies, bitcoin and other related transactions?

If you understand that the major job of CBN is managing the economy from a monetary policy perspective, supervising and regulating financial institutions and maintaining financial stability, you will understand why the CBN issued that directive. Of course this is not the first time the CBN is raising concern about cryptocurrency. It did so in 2017 and followed up in 2018. My understanding is that CBN is concerned that the digital currency regime is not under its control as all currencies should be and it is unable to regulate its use. Besides, there are reports that investors in cryptocurrency are putting pressure on the foreign currency markets in the country and therefore pushing rates up. CBN is also concerned at the speculative nature of the cryptocurrency market and the probability of losses to Nigerian investors, which it has no model to predict. I believe this directive is not where it ends. CBN would go to the next step of understanding and coming out with policies that would bring this currency trading under its supervision and regulation since it is clear that it has come to stay. You may have read that Tesla is now collecting bitcoin for car sales. Some other big companies will follow suit in due course. I have heard commentaries of cryptocurrencies being susceptible to fraud, terrorist financing, money laundering and other illicit trade. While this may not be untrue, it is also true that fiat currencies have the same challenges. Would we ban the Naira and the dollar because some people use them for illicit transactions? Of course we won’t.

The COVID-19 pandemic has no doubt dealt a huge blow to the nation’s economy.

Are you impressed or convinced with government’s efforts to stimulate economic recovery especially after a recession? If not what’s your advice?

A country is said to be in recession when it witnesses two consecutive quarters of negative GDP growth. In a previous intervention in April, I had predicted that with the pandemic, we would go into a recession by the end of the third quarter of last year and that is exactly what happened. We have a big problem with the options available to us as nation to exit recession. Conventional economic wisdom recommends that the best way to exit a recession is to spend one’s way out of it. However, our challenges are complicated by unsustainable debt profile and dwindling revenue base. So the question becomes, where would you find the money to spend? When you borrow further, you sink deeper into a debt trap, when you print money, you face the backlash of inflationary pressures. So, this is a catch 22 situation. While the 2021 budget makes provision for deficit financing of about N5 trillion, we are at the moment struggling with a debt profile of about N36 trillion. Should we find someone to lend to us, how do we pay back? Our debt service to revenue ratio is approaching 60 per cent.

The summary of everything I have said is that while government continues with its

Dr. Ngozi Okonjo-Iweala has been announced as the new head of the World Trade Organisation (WTO). How can Nigeria, Africa benefit from her leadership?

I had done an article in my column where I had predicted what happened with the WTO position. I am glad that she has been announced as we were waiting for it. I’m sure that she will encourage Nigeria and Africa to begin to play significantly in global trade. At the moment, we are very inconsequential in Word trade. This is not unrelated to our level of productivity in the continent. To participate actively in a trade organisation, you must have what to sell. And it is what you make that you sell. Yes, we are largely responsible for natural resources and primary products, but these are not significant in world trade.

This is why the US and China are major players in the WTO. Africa will need to put more on the table to be taken seriously in such an international organisation.

What is it about the Igbos and chieftaincy titles and how does that impact on citizens?

Again, it is also not only Igbos that take Chieftaincy titles. Having said that, I see Chieftaincy titles as a form of recognition.

I also know that some people who are not deserving, pay for such titles but I believe they are in the minority. Beyond that, I do not make much out of it. I personally have a few, but I have refused to be addressed as “Chief”.

Otti programme of taming the recession, it should look at ways to improve productivity, improve revenue and cut cost of running government.

With the number of prominent Igbos hit by the COVID-19, are you satisfied with the response of governors in South-east in tackling the pandemic?

I am not sure Covid-19 cares about ethic profiling as there is no evidence that its only prominent Igbos that are hit. This is a virus and once you come in contact with it, you are infected. If you are lucky, you recover.

But of course it is not just luck. If you have underlying conditions, you stand a bigger risk than those who don’t have. The problem is that a lot of people do not recognise that the virus is dangerous. So you see people not observing the protocol as directed by NCDC and others operating as if nothing has changed. There is a lot that can be done to contain this virus and it is everyone’s job and not that of any government official alone.

Any regrets in leaving banking for politics? Would you say you’re fulfilled

in your field of endeavor and given another opportunity in life, what would you have done differently?

This is an interesting question which a lot of people would like to ask but somehow, no one has. The answer is no! I have no regrets for leaving banking at the time I did. I spent a quarter of a century in the financial services industry and it was a time well spent. It is true that my tenor as CEO had just been renewed for another three years a few months before I left, but it was also the best time to leave, when the ovation was loudest. I had set a target for myself and my team of where we wanted the bank to be in six years. We met the targets in four years and it was time to go. Coming into politics has exposed me to things that I would never have known. To those who say they don’t do politics, I refer them to a famous quote by the German Poet, Bertolt Brecht thus: “The worst illiterate is the political illiterate, he doesn’t hear, doesn’t speak, nor participates in the political events. He doesn’t know the cost of life, the price of the bean, of the fish, of the flour, of the rent, of the shoes and of the

You were the 2015 and 2019 gubernatorial candidate of the All Progressives Grand Alliance (APGA) but now you are in the APC. Is this move for political survival?

I spoke extensively of the reason I was leaving my former party. In 2019, the party became a Ponzi scheme used to fleece members who wanted to contest election on its platform.

Leadership of the party which should have protected party members turned out to be the architects, masterminds and beneficiaries of the scheme. When some of us spoke out, leadership, instead of addressing the issue, decided on a witch-hunt. For instance, an insurrection was planted in the Abia wing of the party. A national convention was planned and I and few others were not invited. They kept us out because they knew they couldn’t have returned themselves if we were there.

Meeting of the Board of Trustees of the party were called and some of us who were members were not invited. These are just a tip of the iceberg. When people are treated that way, staying back would be ridiculing themselves. Meanwhile, this is a party that had no office when I joined in 2014. We hurriedly paid for a secretariat in the state CONTINUED ON PAGE 27

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OTTI: IMPROVED PRODUCTIVITY, REVENUE‘LL DRIVE NIGERIA’S ECONOMIC GROWTH

Otti capital and offices in all the local governments in the state. We went on to win 11 out of the 24 member state house of assembly and a house of representative seats. Before our time, the party had not won a local government councillorship seat not to talk of houses of assembly and representatives seats. It was very clear to me that the party had fallen into the hands of buccaneers who were on a mission to send it to oblivion. We had no option than to leave.

What are you plans for 2023?

This is 2021 which is still a brand new year. I can have plans up to end of 2021 which represents long term in Nigeria. You know that quite unlike elsewhere, a few months is long term here as things change quite rapidly. As for 2023, I have no plans yet. May be when we speak again in 2022, we can discuss plans for 2023. One thing that has remained constant with me is that I will continue to condemn and fight bad governance while campaigning for good governance at every level, whether I am contesting elections or not.

What are your thoughts on Igbo presidency and how can this become a reality?

If you have followed my politics, you would realise that I do not believe in primordial sentiments. I believe that tribe and religion are basically smokescreens used by politicians to drive personal interests. Having said that, I also know that arrangements about power shift have remained the fulcrum of our politics in Nigeria. That is not to say that our salvation is going to come from that. Given that arrangement that have had power move from North to South and power having been in the North for two terms, it will naturally move to the South. Since South West and South South had been in power, it should naturally shift to the South East. That is the extent to which I believe in Igbo Presidency.

The issue of insecurity- insurgency, armed robbery, kidnapping, have taken a frightening turn, are you satisfied with steps taken by government so far and what will you advise they do differently?

A lot of us had spoken about rejigging the security architecture of the country. I’m happy that the government has started by changing service chiefs. I expect that the new security chiefs understand that the country is in an emergency. I expect them to completely rethink the security system. Having said that, I also believe that we need to get into the root cause of the very high level of insurgency in the country. While I admit that criminality cannot be completely eliminated, I am of the view that the level of poverty is responsible for the upsurge in insecurity. A situation where close to 90 million people representing 43 per cent of our population are living below poverty line of less than $1.90 per day, makes the country a veritable candidate for insecurity of the highest order.

Of course we know that poor education has

a direct relationship with poverty, and this also ensures that insurgency is sustained. So, we must do all we can to address poverty, unemployment, poor education, deprivation, poor governance and corruption as a lasting solution to insecurity.

A group in the north has threatened to mobilise Nigerians from other parts of the country against the APC in the 2023 general elections if the issue of insecurity continues. Is that not a vote of no confidence on your party?

The beauty of democracy is that people are free to express their opinion. I am sure the group you are referring to was expressing its option and they are entitled to it. Another group may also come out and take the opposite position which will be well within its right.

Like I said earlier, 2023 is still a whopping two years from now and no one knows what would happen then.

What’s your thoughts on the call by Ebonyi governor for your party to check social media critics?

I am unaware that he said that, however, I know that there have been divided opinion on the regulation of social media. I personally think that you cannot legislate on what people should publish, but I believe that people should be responsible for the information they publish in the media, be them social or traditional. You will be surprised that there are enough laws in our jurisprudence to deal with false publication. The problem is that many of us either do not know our rights or do not care to protect our rights. If someone publishes false information about you, the law allows you to prosecute that person and bring him to book.

APC has started its nation wide membership drive, what’s your take on that, are you canvassing for membership for your party?

Yes, the revalidation and registration of members is on right now. So far, it has been a huge success in different parts of the country.

We are encouraging our supporters, particularly those that moved with me to come out and register. I’m happy to report that they are responding. We are also engaging with other people who were either not members of any political party before now or members of other political parties to join our party.

How do you balance business schedule, politics, family demands and your religious obligations?

Everything is about planning. Once you have the discipline to plan and keep to your plans, things begin to look like clockwork. I try to put some thoughts to planning and it has always worked for me. I also believe that bigger and larger is not necessarily better. So for me, it is about the quality of time I devote to activities which produce results than the amount of time. I can tell you that this has always worked for me even in the bank.

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BUSINESSWORLD

NEWS

BoI, DFIs Seek to Enhance Financing of Businesses

Transcorp Hotels Launches Digital Platform Nume Ekeghe Transcorp Hotels Plc has announced the launch of ‘Aura,’ a new digital platform through which people can book accommodation and other services offered by the organisation.

Aura, which is Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.

In a statement made available to THISDAY, the Managing Director and Chief Executive Officer of Transcorp Hotels Plc, Ms. Dupe Olusola explained: “It’s a new dawn in the hospitality industry.

I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences.

“For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises.”

The statement explained that the launch of Aura was one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important

components of travel, “whether for leisure or business where you stay, what you eat and how you spend your time.”

Speaking further, Chief Executive Officer, Africa Prudential Plc, Mr. Obong Idiong, expressed excitement, saying: “Finding the right accommodation when you travel can be incredibly complex.

“Options available for the right prices are often limited, and travelers sometimes end up with accommodation that taints the travel experience. “Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.

“To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business.

“With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.

Also speaking, a travel enthusiast and early adopter of Aura, Ms. Priscilla Adeboye, said the global pandemic has pushed international travel down her list.

“But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.”

James Emejo in Abuja The Managing Director, Bank of Industry (BoI), Mr. Olukayode Pitan, has called on development financial institutions (DFIs) in the country to increase funding support for businesses in order to enhance the pace of growth and development.

In a meeting with chief executive of DFIs in Abuja, he said it was high time the operators played their role in creating a conducive atmosphere for achieving a sustainable real sector development. Pitan, who is the Chairman, Association of Nigerian Development Finance Institutions (ANDFIs), however, lamented that

the body had been quiet in the past seven years, a development which he said, was not good for the financial institutions.

He also urged members to be more committed to the activities of the association.

He said the meeting was to strategise on how the association would meet once or twice in a year, while assuring them of an office space in the BoI building in Abuja, which can sit a minimum of six staff including the secretariat.

The BoI MD said the Central Bank of Nigeria (CBN) also had interest in ANDFI and wanted it to play a more active role in the continental association.

He noted that South Africa

provided Chairman for AADFI before handing over to Botswana, East Africa, adding that while North Africa appeared to be active, the West African body had shown less representation.

This, he said made it imperative for Nigeria to play a vital role in ensuring good representation.

He added: “It is therefore, a good time to begin repositioning ANDFI for better collaborations with both local and international community.

“Repositioning of ANDFI has both local and international advantages hence the need for Nigeria to get involved.”

He gave some of the benefits of the association to include raising a

common voice of DFIs to influence CBN circulars and guidelines and also other government policies for operational efficiency.

Other benefits are to speak in one voice on matters of common interest and encourage mutual assistance and investment co-operation among the DFIs. According to him, the association was inaugurated on October 15, 1982, with 15 foundational members, with the primary objective to create a forum for DFIs in the country to discuss and exchange ideas on issues of common interests while providing a platform for members to cooperate in areas of investment, finance and capacity building.

Ibom Air CEO Urges Govt to Intervene on Aircraft Insurance Chinedu Eze The Chief Executive Officer of Ibom Air, Capt. Mfon Udom, has advised the federal government to help grow the capacity of Nigerian insurance companies to enable them handle aviation insurance without resorting to international insurers and underwriters.

Udom said the premium paid

by Nigerian airlines to foreign insurances companies keep rising because of presumed country risks.

“The system at play now does not help the industry and the passengers are paying the price.

Even the Nigerian economy is

not benefiting from the current situation,” he said.

He made the call when he received the Organiser of Akwaaba African Travel Market, Ikechi Uko at the head office of Ibom Air in Uyo. He said the low capacity of Nigerian insurance companies force Nigerian airlines to pay higher insurance premium.

“No insurance company is able to completely insure a Nigerian airline. The reinsurance arrangements creates third parties and brokers that prevents efficient underwriting arrangements,” Udom added. He therefore urged the government to force the insur-

ance companies to scale up their capacity and maybe tweak the law to allow airlines deal directly with underwriters. The Ibom Air CEO noted that the challenges the airline faced in its 18 months of operations included the impact of the Covid-19 lockdown, which almost derailed the trajectory of growth for the airline.

He said the aviation company has returned to the original path after covering up the gaps identified and would soon be announcing positive results.

Capt. Udom while welcoming the team said that Ibom Air has done very well so far because it

kept to its business plans; hired the best staff available and did not chase opportunities.

“The vision by the State Governor is to create a hub in Uyo, create jobs and generate economic activity for the state.

Our success is because of the vision. We are happy with the honours that we have earned after providing good services to our passengers,” he said.

In his response, Uko said he was in Uyo to invite Ibom Air to the 2021 edition of Abuja Jabamah where Ibom Air would receive the award as the Best Airline in Nigeria for the year 2020.

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CITYSTRINGS

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 07010510430

Shoreline Protection as a Boost for Naval Seapower The efficient and effective projection of seapower by maritime forces is dependent on the physical configuration of the harbours and jetties which constitute a critical interface connecting the sea with land. Thus, to assuage the menace of erosion and other ecological challenges facing shorelines bordering naval facilities, the federal government recently intervened and ensured the construction of a jetty and shoreline protection facilities at the Nigerian Navy Underwater Warfare School, Chiemelie Ezeobi reports

L-R: Permanent Secretary, Ecological Fund Office, Dr. Habiba Lawal; Chief of the Naval Staff (CNS) Vice Admiral Awwal Gambo; Minister of state for Health, Senator Adeleke Mamora; Lagos State Commissioner for the Environment and Water Resources, Mr Tunji Bello; and Flag Officer Commanding, Western Naval Commanding, Rear Admiral Oladele Daji at the commissioning

The jetty and shore protection facilities

O

ne of the dangers faced by any body of water is the environmental degradation of its coastal shorelines. Without doubt, the eroding shorelines in the coastal areas have raised concern for the citizenry especially in the light of the ocean surges that are known to wipe out islands and beaches.

Their fears are not unfounded. With each flood that often leads to a surge, it poses an inherent danger both for humans and aquatic life. Most times the blame for these surges have often been placed squarely on climate change, while some blame human factors.

To this end, environmental experts have continuously warned that except prompt actions are taken, it would trigger a huge devastating loss to such affected shorelines.

They noted that continuous degradation of the coastal areas cause erosion instead of even

distribution of sand along the shorelines.

Shoreline Mitigation for the Navy Recently, the Ecological Fund Office (EFO) through the office of the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha recently embarked on a mitigation project of the shorelines at the Nigerian Navy Underwater Warfare School in Ojo, Lagos.

The project was executed by Messrs Firm & Resolute Investment Limited as well as the Project Consultant, Messrs Integrated Advance Quest Engineering Limited.

According to the navy, the shoreline protection and the restoration of the jetty would no doubt enhance NN maritime security operations.

They noted that it was the sole reason why the FG decided to assuage the fear of menace of erosion and other ecological challenges in jetties belonging to the Nigerian Navy Underwater

Warfare School by constructing a jetty and shoreline protection facilities.

Bridging Military Infrastructural Deficit In his keynote address at the commissioning and handing over ceremony of the project on the construction of Jetty and Shoreline Protection Facilities at Underwater Warfare School, Ojo, Lagos State, the Minister of state for Health, Senator Adeleke Mamora, said it was targeted at so many reasons including bridging infrastructural deficit in the military.

He also added that the federal government's intervention project was executed by the Ecological Fund Office (CFO) through the Office of the Secretary to the Government of the Federation for the benefit of the Nigerian Navy.

He said the FG swiftly approved in the

second quarter of 2018 the request because of its strategic importance especially in the capacity building drive of the Nigerian Navy, the provision of a modern jetty and protection of the shoreline as well as the upgrade of the existing system will no doubt meet the benchmark of a world class training arena for the Nigerian Navy which of course is in line with international best practices.

He said: "It is also gratifying to note that the approval of this project has a dual mandate of enhancing the professional competencies of the officers and men of the services and by extension, stimulating the aggressive drive of securing the country against any criminal act and security challenges confronting the nation, like maritime crime, piracy, banditry, oil bunkering, kidnapping, insurgency etc.

“Aside the fact that the project will bridge the gap of infrastructural deficit in our military

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CRIME&SECURITY

Another view of the jetty

The handover between Dr. Mamora and the CNS formation, it is also very instructive that the modern military institution requires such an intervention in order to respond to the emerging trend and sophistication in the modern warfare in addressing the security challenges retarding our growth and nation building.

"By and large, the intervention of the federal government on the shoreline protection works and construction of jetty brought about huge relief and assuage the fear of menace of erosion and other ecological challenges in the area. I feel honored with this invitation as the Special Guest of Honour not only because the project is dear to the school, but also because it is in keeping faith with the present administration's promise that no part of the country will suffer any neglect owing to its geographical location or political consideration.

“The completion of this project has further demonstrated Mr. President's commitment to addressing problems confronting various communities across the country. I therefore implore the state government and the Underwater Warfare School to cherish this laudable project and to protect it from any abuse. It is the responsibility of the school to own and maintain the project to ensure its sustainability. “ Effective Projection of Seapower Noting that the efficient and effective projection of seapower by maritime forces is dependent on the physical configuration of the harbours and jetties which constitute a critical interface connecting the sea with land, the Chief of the Naval Staff (CNS) Vice

Admiral Awwal Gambo first commended the president his commitment towards addressing ecological challenges in the country and the Secretary to the Government of the Federation for seeing to the awards of contract as well as the Ecological Fund Office and contractor for seeing to the completion of the project.

Stressing that the event marks another milestone in the intervention effort of the Ecological Fund Office at addressing ecological challenges across the country, he said: “I am therefore grateful that the Ecological Fund Office considered the NN one of the beneficiaries of its mitigation efforts in line with Mr President's pledge that no part of the country would be neglected under the present administration.

“Notably, the efficient and effective projection of seapower by maritime forces is dependent on the physical configuration of the harbours and jetties which constitute a critical interface connecting the sea with land. The shoreline protection and the restoration of the jetty would no doubt enhance NN maritime security operations. It is instructive to state that the timely completion of this project has helped to stave off the fears associated with shoreline erosion including the attendant risk of flooding to the entire landscape. This is even more worrisome considering that Navy Town is a strategic naval establishment housing the largest NN barracks as well as other major NN establishments including providing a sheltered harbour for berthing of critical naval assets and some of our vessels.

“Again, this project has enhanced the aesthetic outlook of the shoreline thus facilitating other

President, Nigerian Hydrographic Society (NHS) and Hydrographer of the Navy, Rear Admiral Emeka Okafor presenting a chart to the CNS recreational use of the adjourning water body.

I wish to state that the NN will take ownership of the project and I assure the SGOH that we would ensure the sustainability and maintenance of this project.

Even as we commission this project today, some of our vessels have already been earmarked to berth at this facility. The only hindrance is the non-completion of dredging activities from the approaches of Badagry Creek.

“Additional dredging operations would therefore be required to facilitate a safe and unhindered use of the jetty. Additionally, I would urge further intervention in the area of the shoreline protection from the current 80 meters to at least another 400 meters to cover up to the JMSTC and the SBS Camp, which is currently nearing completion. This way, I believe that the FGN would have had returns on the resources committed to the project and greatly reinvigorate NN's response and strike capability against the criminal elements at sea.

“I respectfully seize this opportunity to humbly solicit for more of Ecological Fund Office's intervention in other identified sites at NN bases and establishments namely; Escravos, Ibaka, Igbokoda, and Calabar Jetty. I assure that the navy will by such intervention be even more emboldened in the performance of her statutory role of maritime defence and security of the nation's maritime domain.”

Succor for Affected Communities Earlier in his welcome address, the Permanent Secretary, Ecological Fund Office, Dr. Habiba Lawal, said the construction brought succor to

the navy and its communities, adding that the federal government received quite a number of requests regarding the need and desirability of embarking on the project as a result of imminent danger posed by the devastating recurring erosion and flooding that have being threatening the lives and property of these communities.

He said: “The risk of shoreline erosion and its negative consequences necessitated the prompt intervention of the Federal Government in effecting a holistic approach to the control and flooding that would stand the test of time and address the issue of shoreline erosion menace caused by high ocean current/tidal waves over the years.

“It is our conviction that this project intervention will provide succor to the communities whose lives and properties were in danger. The EFO entrenched a new tradition of organising in collaboration with the host community a befitting ceremony for the commissioning and handing over of its project; this singular act will serve a dual purpose of taking ownership of the project and ensuring its sustainability.

I have no doubt that the school authorities and indeed the inhabitants will ensure that the jetty and shorelie protection works are guarded jealously.

“At this juncture, I wish to extend our gratitude to the school for their hospitality which culminated into a hitch free execution and successful completion of the project.

Also, worthy of mention are the consultant and contractor whose seamless collaboration contributed in making this day possible.”

T H I S D AY ˾ Ͷ˜ 2021

36

BUSINESS/MONEYGUIDE

IFAD: Empowering Women Crucial for Food Security Oluchi Chibuzor Hunger and famine will persist and there will be unequal recovery from the impacts of the COVID-19 pandemic unless more women in rural and urban areas hold leadership positions with increased decision-making power, heads of the three United Nations’ food agencies have said ahead of their joint International Women’s Day event holding today.

The event, co-organised by the United Nations Food and Agriculture Organisation (FAO), the International Fund for Agricultural Development (IFAD) and the World Food Programme (WFP), would focus global attention on the vital role that empowered female farmers, entrepreneurs and leaders need to play so that women can contribute on

equal terms to the recovery from the COVID-19 pandemic, and in creating an environment to eliminate poverty, enhance productivity, and improve food security and nutrition.

“The world is home to more than 1.1 billion girls under the age of 18, who have the potential of becoming the largest generation of female leaders, entrepreneurs and change-makers ever seen for the better future.

“Yet, women and girls continue to face persistent structural constraints that prevent them from fully developing their potential and hinder their efforts of improving their lives as well as their households and communities,” a statement quoted FAO Director-General QU Dongyu, to have said.

“Women and girls can play a crucial role in the response to

the COVID-19 pandemic and in particular in transforming our agri-food systems.

“We all need to work together to spark the necessary changes to empower women and girls, particularly those in rural areas,” he added.

Also, the President of IFAD, Gilbert Houngbo said it was essential that women are not only in more leadership positions, but that they are consulted and listened to, and integrated in all spheres and stages of pandemic response and recovery.

“Investing in rural women’s leadership and involving them more in creating our post-COVID future is critical to ensure their perspectives and needs are adequately considered, so that we can build back better food systems where there is equal access to nutritious food and decent livelihoods,” he added.

Union Bank Unveils Digital Investing Solution Dike Onwuamaeze Union Bank of Nigeria Plc (UBN) has launched the M36 digital investment platform that would offer a wide range of investment opportunities to investors through a self-service app.

The M36 also offers loans, personal travel allowance, will and trust services and many more essential products under its life essentials menu.

It was also designed to deliver a wide range of investment options not readily available on self-service digital platforms like foreign currency transactions, commercial papers, local and foreign denominated bonds,

treasury bills and other fixed income products.

The Head, Treasury at the UBN, Mr. Chuka Emerole, said: “The M36 eliminates the traditional barriers to investing and offers investors direct access to financial instruments that would usually require the service of an investment or relationship manager.

“We’ve designed M36 to ensure simplicity in the onboarding and investing process while also empowering the customer to make sound investment choices based on their financial objectives.

We worked with key partners to deliver both the experience and products on M36 and are confident that we have launched

a superior product in today’s marketplace.”

Emerole said with its 24-hour concierge service, the M36 users could access round the clock support from investment advisors as they actively manage their portfolios.

The bank said the M36 was a timely financial product meant to keep abreast with the rapidly evolving environment and changing consumer behavior that is fueled by technology and growing access to information.

The M36 is also part of the UBN’s strategic focus on delivering superior customer solutions by leveraging technology and innovation.

Somefun: Unity Bank Committed to Nigeria’s Self-sufficiency in Rice Over 642,860 smallholder farmers across 35 states of the federation have received support from Unity Bank Plc under the CBN’s Anchor Borrower’s Programme, ABP to boost food production and attain self-sufficiency in rice production in Nigeria.

Giving the assessment at the flag-off of the 2020 wet season harvest aggregation in Kebbi State, recently, the Managing Director/ Chief Executive Officer of Unity Bank Plc, Mrs. Tomi Somefun, reassured the rice farmers of the commitment of the bank to providing necessary support to rice farmers in Nigeria.

While delivering a goodwill

message, Somefun went down memory lane stating that the berthing of the bank was closely linked to the critical role it played in agric financing, adding that, “Unity Bank remains fully committed to its partnership with the Rice Farmers Association of Nigeria, RIFAN and its programmes.”

“This commitment will ensure the attainment of Central Bank of Nigeria, CBN’s target to achieve self-sufficiency in rice production through the association,” she added.

Unity Bank in 2019 earned an award of recognition, which was jointly presented by President Muhammadu Buhari and the

Rice Farmers Association of Nigeria (RIFAN) for its strong participation in the ABP in 2019.

She recalled that the bank’s participation in the CBN’s Anchor Borrower’s Programme, ABP dates back to 2017 after the official flag off the scheme in Kebbi State

by President Muhammadu Buhari in November 17, 2015, noting that the first two-State-led-windows of the ABP was sponsored by the Bank.

“We financed wheat production in Jigawa in 2017 with about 1,600 farmers and in the same year, financed rice production in Sokoto State with a total number of about 6,600 smallholder farmers,” she recalled.

Northcourt, UPDC Mark International Women’s Day As the world celebrates the International Womens’ Day, Northcourt Real Estate and UPDC Plc will be holding a virtual event tagged: “Excelling as a Woman in Real Estate,” today.

The event aims to inspire the current and next generations of women in Nigeria’s real estate market.

The event is a, “lessons sharing session” where select leading female experts in the African real estate industry will be giving unique insight into how they have grown their careers

in the male-dominated world of real estate.

The acting CEO, UPDC Plc, Deborah Nicol-Omeruah, alongside the General Manager, Northcourt Real Estate, Oyindamola Bamisile, will both be spearheading the event.

Other speakers at the event are: Sade Hughes – Country Manager, Mixta Nigeria; Sa’adiya Aliyu – CEO, Urban Shelter; Uzo Oshogwe – CEO, Afriland Properties Plc; Modupe Anjous – CEO, Rydal Mews and Vivian Ombwayo – Director, Valuation and Research, Broll

Kenya.

“The format of the seminar is clear; there will be two panels – the first panel will be a discussion between women in real estate services such as property brokerage, property management, facility management, valuation and research.

“The second panel will be a discussion amongst women in property development and investment.

“Both panels have a similar aim; to share what other women need to know and do to excel in real estate,” a statement added.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JULY 2020 Money Supply (M3)

36,822,751.47

-- CBN Bills Held by Money Holding Sectors

3,476,121.25

Money Supply (M2)

33,346,630.22

-- Quasi Money

120,764,479.02

-- Narrow Money (M1)

12,582,151.19

---- Currency Outside Banks

2,002,026.89

---- Demand Deposits

10,580,124.31

Net Foreign Assets (NFA)

7,637,137.23

Net Domestic Assets(NDA)

29,185,614.24

-- Net Domestic Credit (NDC)

39,711,115.95

---- Credit to Government (Net)

19,521,851.08

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

-130,189,264.87

--Other Assets Net

3,472,017.70

Reserve Money (Base Money

13,421,827.07

--Currency in Circulation

2,395,917.03

--Banks Reserves --Special Intervention Reserves

11,025,910.04 317,234.17

˾ ÙßÜÍÏ ̋

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

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, 4 MARCH 2021

The price of OPEC basket of thirteen crudes stood at $64.26 a barrel on Thursday, compared with $62.15 the previous day, according to OPEC Secretariat calculations.

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

37

T H I S D AY ˾ Ͷ˜ ͰͮͰͯ

Vitafoam Grows Profit by 72%, Recommends N979m Dividend Goddy Egene Shareholders of diversified manufacturer of foams and other household equipment, Vitafoam Nigeria Plc, will receive a dividend of N979.4 million for the year ended September 30, 2020.

The dividend, which shows an increase of 64.5 per cent above N595.4 million paid in 2019, translates into 70 kobo per share as against 42 kobo paid in the

preceding year.

The board of the company recommended the higher dividend following the improved performance recorded for the year.

Vitafoam posted a revenue of N23.44 billion, up by five per cent from N12.281 billion in 2019.

Profit before tax rose 62 per cent to N5.647 billion, from N3.496 billion, while profit after tax grew faster by 72 per cent from N2.56 billion to N4.108 billion.

The higher growth in bottom-

P R I C E S MAIN BOARD

F O R DEALS

line resulted from an 8.1 per cent drop in cost of sales and 11.4 per cent reduction in finance cost. Basic earnings per share increased from N1.82 to N3.05 and net assets per share hit N7.25 in 2020, 54.3 per cent above N4.70 recorded in 2019.

Commenting on the results, the Group Managing Director and Chief Executive, Vitafoam Nigeria Plc, Mr. Taiwo Adeniyi, said innovation is the drive.

“As a matter of corporate

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

QUANTITY TRADED

VALUE TRADED ( N )

policy, we do continuous improvement on our products.

We sell high margin products.

We are highly connected with our customers. We know their different needs and as such our products always gain acceptance in the market. Our foams and other products meet specific needs. “Last year, we launched Buy Rights when our research revealed that different weights require different types of foams.

We do not just sell to custom-

T R A D E D MAIN BOARD

A S

ers, we offer health counseling to advise on the specific foam for individual customers. This has greatly endeared us to our customers,” he said.

Adeniyi explained that Vitafoam is not just about only rigid foams, but has strong footing in furniture and other household equipment such as Sandwich panels, insulation board and spray foam.

“Quality product is our second name. Our current performance

O F

was not driven by sales due to COVID-19. The margin from this is insignificant and we even donated foams to Lagos State government as our corporate support. Our investment in the subsidiaries as a growth strategy is beginning to pay off. All of them have turned profitable. We are not insulated from the tough operating environment as all the indices that should drive growth in the manufacturing sector are weak.

0 5 / 0 3 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

38

MONDAY MARCH 8, 2021 •T H I S D AY

39

MONDAY, ΀˜ ͺ͸ͺ͹ ˾ T H I S D AY

MARKET NEWS

NSE Suspends Trading in the Shares of Union Diagnostic Goddy Egene

Union Diagnostic and Clinical Services (UDCS)Plc was suspended last Friday

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

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

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

to prevent trading beyond the effective date of the Scheme of Arrangement

floor of the Nigerian Stock Exchange.

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

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

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 04Mar-2021, unless otherwise stated.

between Union Diagnostic and Cedar Advisory Partners Limited. The terms of the

scheme include the transfer of the entire issued and fully paid-up ordinary shares of

50 Kobo each in UDCS held by the shareholders to Cedar Advisory Partners.

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

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

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 153.66 155.19 -5.02% Afrinvest Plutus Fund 100.00 100.00 3.27% Nigeria International Debt Fund 351.24 351.24 -11.95% Afrinvest Dollar Fund 110.74 110.74 -1.20% 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 1.03 1.05 14.96% ACAP Income Funds 0.65 0.65 -11.09% 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 2.01% AIICO Balanced Fund 3.34 3.50 -5.82% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market N/A N/A N/A Anchoria Equity Fund N/A N/A N/A Anchoria Fixed Income Fund N/A N/A N/A 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 18.30 18.85 0.91% ARM Discovery Balanced Fund 404.70 416.90 1.08% ARM Ethical Fund 34.97 36.03 3.75% ARM Eurobond Fund ($) 1.20 1.21 -1.41% ARM Fixed Income Fund 1.04 1.04 -7.38% ARM Money Market Fund 1.00 1.00 1.26% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 102.90 102.90 1.17% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 124.26 125.13 -1.52% AXA Mansard Money Market Fund 1.00 1.00 1.81% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.06 2.06 -26.61% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.18 2.22 -25.50% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 1.82% Cordros Milestone Fund 2023 127.13 128.03 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 110.20 110.20 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A 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 1,346.91 1,346.91 5.65% FBN Balanced Fund 182.13 183.42 -2.96% FBN Halal Fund 110.09 110.09 4.58% FBN Money Market Fund 100.00 100.00 0.00% FBN Nigeria Eurobond (USD) Fund - Institutional 123.68 123.68 3.00% FBN Nigeria Eurobond (USD) Fund - Retail 123.80 123.80 3.00% FBN Smart Beta Equity Fund 148.95 150.95 -1.48% 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 1.19% Legacy Debt Fund 3.90 3.90 0.70% Legacy Equity Fund 1.15 1.57 -11.40% Legacy USD Bond Fund 1.15 1.15 0.85% 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 N/A N/A N/A Coral Income Fund N/A N/A N/A FSDH Treasury Bills Fund N/A N/A N/A

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 0.89% Nigeria Entertainment Fund 127.12 127.65 18.14% GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 1.40% Vantage Balanced Fund 2.68 2.74 16.79% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 155.83 156.28 0.27% Vantage Dollar Fund (VDF) - June Year End 1.07 1.07 4.99% 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 1.36 1.38 -0.69% Lotus Halal Fixed Income Fund 1,139.00 1,139.00 1.39% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.60 1.63 7.45% PACAM Fixed Income Fund 12.23 12.35 -0.09% PACAM Money Market Fund 10.00 10.00 1.25% PACAM Equity Fund 1.57 1.59 -0.38% PACAM EuroBond Fund 109.42 112.09 0.00% 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 127.59 129.85 5.69% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.01 1.01 1.13% 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 3,116.56 3,142.71 -3.07% Stanbic IBTC Bond Fund 226.72 226.72 0.83% Stanbic IBTC Ethical Fund 1.15 1.16 -2.12% Stanbic IBTC Guaranteed Investment Fund 297.02 297.03 0.80% Stanbic IBTC Iman Fund 209.96 212.55 -3.92% Stanbic IBTC Money Market Fund 100.00 100.00 1.84% Stanbic IBTC Nigerian Equity Fund 9,784.70 9,910.93 -6.82% Stanbic IBTC Dollar Fund (USD) 1.24 1.24 1.02% Stanbic IBTC Shariah Fixed Income Fund 111.78 111.78 0.63% 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 1.32 1.34 -3.08% United Capital Bond Fund 1.91 1.91 0.99% United Capital Equity Fund 0.88 0.90 1.48% United Capital Money Market Fund 1.00 1.00 3.02% United Capital Eurobond Fund 118.33 118.33 1.67% United Capital Wealth for Women Fund 1.07 1.08 -1.66% United capital Sukuk Fund 1.02 1.02 2.22% 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 12.10 12.20 1.96% Zenith Ethical Fund 13.38 13.49 9.47% Zenith Income Fund 24.18 24.18 0.86% Zenith Money Market Fund 1.00 1.00 1.35%

REITS NAV Per Share

Yield / T-Rtn

121.58 52.64

0.70% 0.46%

Bid Price

Offer Price

Yield / T-Rtn

12.50 117.25 93.55

12.60 117.25 95.31

-5.39% -3.69% -5.85%

Fund Name 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 Money Market 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

3.89 5.25 16.92 1.00 19.04 176.35

3.93 5.33 17.02 1.00 19.24 178.35

2.88% -7.65% 3.47% 0.33% -7.17% -20.11%

NAV Per Share

Yield / T-Rtn

108.05

13.11%

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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PAGE FOURTY-EIGHT NORTHERN STATES TIGHTEN SECURITY TO CURB ABDUCTION OF SCHOOLCHILDREN Zamfara State. However, all the pupils have been recovered following intense negotiations between the bandits and the governments of the two states, with the assistance of non-state actors.

Gunmen had also abducted over 300 boys from Government Secondary School in Kankara, Katsina State, who were freed about a week later.

These incidents have fuelled concerns that the number of out-of-school children in the North might increase as parents might be discouraged from sending their children to school.

To avoid this development, the Sokoto State Government has taken drastic measures to avoid a reoccurrence of the Kankara and Jangebe incidents.

Sokoto State Commissioner for Security and Career Affairs, Col. Garba Moyi (rtd), told THISDAY that Governor Aminu Tambuwal has directed the commissioner for education to merge the boarding schools in border areas with those in the town.

Moyi added that security has been beefed up in all the schools with a directive to security agencies to ensure a 24-hour patrol of all schools had.

He allayed fears that the decision will affect pupils' enrolment.

The Sokoto State Police Command said it has introduced Operation Puff Adder 2 to curb criminals and bandits in the state.

The command’s Public Relations Officer, Mr. Abubakar Sanusi, an Assistant Superintendent of Police, said the Commissioner for Police, Mr. Kamaldeen Okunlola, has also created five mobile units in the eastern senatorial district in the state where banditry is rampant.

He stated that Tambuwal last week provided the command with 15 additional operational vehicles to

enhance its operations.

Sanusi said the police will consolidate on the governor's gesture by redoubling their efforts in protecting lives and property.

The Zamfara State Government said it would build a police outpost in every school to check the abduction of schoolchildren.

The Commissioner for Security and Home Affairs, Mr. Abubakar Dauran, told THISDAY that the state government has perfected plans to build a police station in each of the schools in the state.

"We don't want what happened in Jangebe to repeat itself because education is key and we can't sacrifice it for anything,” he said.

He said President Muhammadu Buhari has also directed the Nigerian Security and Civil Defence Corps to man every school in the state.

The Zamfara State Police Command assured citizens of its readiness to protect every schoolchild in the state.

Its spokesman, Mr. Muhammad Shehu, a Deputy Superintendent of Police, said the police have put measures in place to forestall the abduction of schoolchildren in the state.

The Kano State Government said it has taken steps to safeguard schools and pupils across the state.

The Commissioner for Education, Mr. Sanusi Kiru, said the closure of 12 boarding schools is part of the government's resolutions to forestall any breach of security.

Kiru said the affected schools were located at communities sharing boundaries with Katsina and Kaduna States.

Besides, the state government has closed some tertiary institutions that share borders with neighbouring Katsina State.

Kiru assured the people that the government will not relent in its effort to

protect the pupils.

According to him, teachers have been alerted to always report to security agencies any suspicious people around their schools.

Backing the government’s efforts, the police said they have put all schools in the state under surveillance as part of the preventive measures to combat insecurity.

The state police command spokesman, Mr. Abdullahi Kiyawa, told THISDAY that the police and other security agencies have kept vigil in all the schools.

In Kaduna, the police command said it has adopted measures to protect both public and private schools.

In a telephone interview with THISDAY, spokesman of the command, Mr. Mohammad Jalige, said the Police Commissioner, Mr. Mohammed Muri, has directed the deployment of security personnel in schools to check banditry.

He said both public and private schools on the outskirts of towns have been identified, stressing that the state government, the command and other security agencies are partnering to ensure safety in schools.

Jalige said: “We have taken measures to protect schools. We first of all identified both public and private schools that are at the outskirts of towns within Kaduna City and local governments.

“Those schools that already have security men; we are going to deploy more personnel to them.

“The Commissioner of Police has directed that adequate deployment of police personnel, including mobile police and intelligence personnel, be deployed in schools in various locations, especially, schools without a fence.”

In Katsina, the state government has reiterated its commitment to the protection of schools and learning centres across the 34 local government areas

of the state from violence and attacks from bandits and other criminals.

Governor Aminu Masari said in an interview that the state government in synergy with security agencies is adopting security measures for the immediate reopening of all boarding schools and protection of day schools.

He said: "We are working on the physical security of the school hostels across the state. We are fully securing the dormitories with all that you can think of. It is after the completion of securing the dormitories that we can say we have taken what is humanly possible to provide security and return the students to boarding schools.

"We are not defeated and we shouldn't look as if we have been defeated. We cannot allow ourselves to be defeated and our children must go back to school as soon as possible. In fact, all the security arrangements will be completed in two weeks."

Similarly, the state Police Commissioner, Mr. Sanusi Buba, said the police had deployed personnel to safeguard schools against attacks, adding that everything possible must be done to secure the lives of the pupils.

The Plateau State Police Command has also assured the people that adequate security has been put in place to prevent the abduction of schoolchildren and to give confidence to parents who may be afraid that their children may be abducted by bandits.

Speaking with THISDAY in Jos, the state Police Public Relation Officer (PPRO), Mr. Gabriel Ogaba, said: “The Commissioner of Police has ordered all Divisional Police Officers across the state to go round schools within their divisions and hold meetings with the schools management and discuss with them on security measures and also to make sure that those schools are properly secured.

“Also, we have our men properly deployed across the state and are on red alert to make sure that such ugly occurrences do not happen in Plateau state.”

The Commissioner for Information, Mr. Dan Manjang, said: “We are also doing a risk assessment of the entire state to know if we would have reasons to close any school or not.

“We told them to beef up security in the schools.”

The Nasarawa State Police Command said measures have been put in place to protect schools. The Police Public Relations Officer, Ms. Nansel Ramhan, an Assistant Superintendent of Police (ASP), told THISDAY in a telephone interview: "The Commissioner of Police, Mr. Bola Longe, has directed all the area commanders of police in the state to secure all schools in the state."

Rahman said Longe had deployed police personnel to provide security in all the boarding schools in the state.

However, Niger State Police Command Commissioner, Alhaji Adamu Usman, said the responsibility of providing security in schools was that of the owners of the schools.

"We are encouraging the schools to provide fence, improve security and take the security of the schools serious," Usman said.

According to him, there are over 100 boarding schools in the state and the police cannot provide security for all of them.

The Secretary to the State Government, Alhaji Ahmed Matane, said a database for all the schools would be opened as part of measures to improve security.

The data base, Matane said, would include details about each pupil and their parents.

In Gombe State, the Director-General, Public Affairs, Government House, Mr. Ismaila Misili, told THISDAY that the state government has keyed

into the stand of the North East Governors' Forum' security initiative to improve security.

“Gombe State and other states in the region have declared their unflinching support for the establishment of community policing and sub-regional outfits to complement the efforts of the military and other federal security agencies in fighting insecurity and other criminalities in the sub-region, including preventing abductions of school children and give hope to parents and students,” he said.

In Bauchi State, the Commissioner for Education, Dr. Aliyu Tilde, told THISDAY: “The state government is revitalising vigilance by the security committees of various schools. But our emphasis is at the collective level, being a state that has not faced any serious security challenge other than few communal clashes in the past 30 years.

“We believe doing more than this will spread panic in a quiet environment.”

Benue State Security Council, after its expanded meeting presided by Governor Samuel Ortom, resolved to beef up security in all schools in the state.

Ortom said to prevent attacks on schools in the state, the council has directed the Ministry of Education to sensitise schools to be security conscious. The sensitisation is, to begin with, schools in border communities.

He also directed traditional rulers and local government chairmen to embark on an enlightenment campaign on the need for the people to be security conscious.

The governor also constituted a committee to monitor the sensitisation programme.

Security agencies were also asked to embark on surveillance of strategic places.

According to the former Lagos State governor, the vice president “has exemplified the best traits of a public servant who strives to do his best for our precious nation.”

He disclosed that Osinbajo had shown great character, intellect, and professional knowledge in serving Nigeria and in supporting Buhari and his agenda.

Tinubu also urged him to continue ever forward by recommitting himself and his ample talents to the betterment of this nation and its people.

“May he always work for the good of the nation and do his best to continue to reform the economy as is his mandate as VP so that all Nigerians may drink of

the cup of prosperity and hope.

“I pray that your efforts bear the fullest fruit and that history will speak fondly of your efforts and achievements,” he said.

BUHARI HAILS OSINBAJO AT 64, SAYS HE IS RELIABLE, DEDICATED by his media assistant, Malam Garba Shehu, the president said: "I'm proud to have selected Osinbajo as my running mate and he has given a good account of himself since our journey began in 2015."

According to the president, "The vice president is a cool-headed gentleman who puts the interest of Nigeria above other narrow considerations."

Buhari noted that Osinbajo is an incredibly patient politician who demonstrates remarkable intellectual and mental energy in the discharge of his duties.

The president wished him many more prosperous years and Almighty God’s continued guidance.

President of the Senate,

Dr. Ahmad Lawan; Speaker of House of Representatives, Hon. Femi Gbajabiamila, and the National Leader of the All Progressives Congress (APC), Senator Bola Tinubu, also felicitated with Osinbajo.

Lawan, in a congratulatory message issued by his media adviser, Mr. Ola Awoniyi, said he joined Osinbajo's family and friends across and outside Nigeria in celebrating the erudite lawyer, intellectual giant, respected religious leader and distinguished administrator on this auspicious occasion.

According to him, the vice president has made his marks in his many fields of endeavour and particularly in the administration of the

great nation.

"I pray that God Almighty will continue to imbue him with wisdom and good health as he ably supports President Muhammadu Buhari in their patriotic mission to transform Nigeria and unite its people in happiness and prosperity,” he said.

Gbajabiamila in a statement issued yesterday described Osinbajo as a patriot and democrat, whose services to his fatherland have been commendable, particularly since he became the vice president in 2015.

The speaker said as a lawyer, Osinbajo has distinguished himself and rose to become not only a professor of law but also a Senior Advocate of

Nigeria (SAN), which is the pinnacle of law practice in the country.

He said: ''His Excellency, the Vice President, Prof.

Yemi Osinbajo, is one Nigerian that should be celebrated at every point in time but the occasion of his 64th birthday calls for more celebration.”

Tinubu, in a statement issued by the Head of his Media Office, Mr. Tunde Rahman, also joined the family, friends, and associates of Osinbajo to celebrate with him as he turns 64.

While praying for many more productive years and the best of health for Osinbajo, Tinubu thanked God for the life of the vice president.

OPS, ANALYSTS BACK CBN’S MEASURE TO BOOST DIASPORA REMITTANCES received.” ommenting on the new policy, the Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Dr. Muda Yusuf, told THISDAY yesterday that the CBN deserved to be commended for the policy, which he described as a

laudable move to encourage foreign exchange inflows into the economy and ease the current liquidity challenges in the country’s foreign exchange market.

Muda said: “This would surely have a positive impact on inflows and ultimately on the exchange rate. But

the CBN should go a step further by allowing exporters unfettered access to their export proceeds, whether in foreign exchange or naira.

“The current practice of imposing the NAFEX rate on export proceeds should be discontinued in the spirit of the current move to provide an

incentive for foreign exchange inflows.

“Similarly, FDIs and FPIs should be allowed greater flexibility in conversion rates of their inflows. A combination of these supply-side strategies would have a remarkable impact on foreign reserves, forex liquidity, and the naira

exchange rate.”

Similarly, the DirectorGeneral of the Nigerian Association of Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA), Ambassador Ayo Olukanni, stated that the new scheme Continued on page 49

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FG to Complete Digital Switchover By 2022 Olawale Ajimotokan in Abuja The federal government has said that it will complete the Digital Switch Over (DSO) in 2022 despite the setback to meet the two dates to transit from analogue to digital platform in 2012 and 2020.

The Acting DirectorGeneral, National Broadcasting Commission (NBC), Prof. Armstrong Idachaba, said yesterday

in Abuja that there would be accelerated activities to deliver the DSO project given the commitment of N9.4 billion by the federal government for the payment of contracts associated with the switchover.

According to him, the federal government will be going to Lagos shortly and before the third quarter of the year, at least five more states would have been covered while signal distributors are also

setting up infrastructure in Port Harcourt and Kano, preparatory to the rollout.

Nigeria launched its DSO in Jos, Plateau in June 2016, and followed up by moving to Kaduna, Kwara, Enugu, and Osun states.

Idachaba rejected the notion that the failure to meet earlier DSO deadlines was due to poor conception, corruption, and bad leadership.

He described the transition from analogue to digital

broadcasting as a highly demanding and tasking endeavour all over the world as it requires the best of financial and technical efforts.

“No country has set a date and actualised it on the first set day. In the UK, they had to revise their entire transition strategy after they had pumped in millions of pounds sterling.

Also in the USA, they had to reset the date over and over before they eventually

transited. This is for very obvious reasons.

“In Nigeria, we missed those dates not essentially because of what they postulated. Even as we speak, we have started, whereas there are some countries that have not started at all in Africa.

About three countries that have transited in Africa are mini-states when compared to Nigeria in population and landscape. They are not up to the size and population of

Plateau State. South Africa is yet to transit even with the belief that country is advanced in broadcasting in Africa,” Idachaba said.

He stated that for a country to transit from analogue to digital broadcasting, it should consider if it will be able to afford digital technology in addition to what becomes the existing radio and television sets and analogue infrastructure that they have invested in, after the transition.

Celebrating Women’s Day, Presidency Showcases 50 Amazons Serving in Buhari's Government Deji Elumoye in Abuja No fewer than 50 women are serving in top positions such as ministers, head of service of the federation, special advisers and as heads of departments and agencies under President Muhammadu Buhari's administration, according to data released yesterday by the presidency.

Media adviser to the president, Mr. Femi Adesina, in a statement, yesterday to mark International Women’s Day listed the appointees and the positions.

He said March 8 of every year is observed globally as International Women’s Day and the theme for 2021 is "Choose to Challenge."

According to him, the celebration provides ample opportunity to reflect on how Buhari honours the womenfolk.

He, thereafter, listed 'The Buhari Women' to include seven ministers, head of the civil service of the federation, two special

advisers, two senior special assistants, five directorsgeneral, among others.

Adesina gave the names of the 'Buhari women' to include Zainab Ahmed, Minister of Finance, Budget and National Planning; Sadiya Umar Farouq, Minister of Humanitarian Affairs, Disaster Management and Social Development; Pauline Tallen, Minister of Women Affairs; Mariam Yalwaji Katagum, Minister of State for Industry, Trade and Investment; Sharon Ikeazor, Minister of State for Environment; Gbemisola Saraki, Minister of State for Transportation; Ramatu Tijjani Aliyu, Honourable Minister of State for the Federal Capital Territory (FCT); Folashade YemiEsan, Head of the Civil Service of the Federation; Mariam Uwais, Special Adviser to the President and Jumoke Oduwole, Special Adviser to the President on Industry, Trade and Investment, and Secretary

of the Presidential Enabling Business Environment Council (PEBEC).

Others include Mojisola Adeyeye, Director-General, National Agency for Food and Drug Administration and Control (NAFDAC); Hadiza Bala-Usman, Managing Director, Nigerian Ports Authority (NPA); Abike Dabiri-Erewa, Chairperson and CEO, Nigerians in Diaspora Commission; Chioma Ejikeme, Executive Secretary, Pension Transitional Arrangement Directorate (PTAD); Patience Oniha, Director-General, Debt Management Office (DMO); Aisha Dahir-Umar, DirectorGeneral, National Pension Commission; Jummai A.M. Audi, Chairperson, Nigerian Law Reform Commission (NLRC); Yewande Sadiku, Executive Secretary, Nigerian Investment Promotion Commission (NIPC); Gloria Akobundu, National Coordinator/ Chief Executive of New Partnership for Africa's

Development (NEPAD), Nigeria; Nnenna Akajemeli, National Coordinator/ CEO, SERVICOM and Folashade Joseph, Managing Director, Nigeria Agriculture Insurance Corporation (NAIC).

Others include Cecilia Gaya, Director-General, Administrative Staff College of Nigeria (ASCON); Ronke Sokefun, Chairperson, Nigerian Deposit Insurance Corporation (NDIC); Aishah Ahmad, Deputy Governor, Financial System Stability, Central Bank of Nigeria (CBN); Stella Ojekwe-Onyejeli, Executive Director/Chief Operating Officer, Nigeria Sovereign Investment Authority (NSIA); Adejoke Orelope-Adefulire, Senior Special Assistant (SSA) to the President on Sustainable Development Goals (SDGs); Oge Modie, Senior Special Assistant (SSA) to the President on Strategic Communications; Toyin Adeniji, Executive Director, Micro Enterprises, Bank

of Industry (Oversees the Government Enterprise and Empowerment Programme, GEEP); Stella Okotete, Executive Director, Business Development, NEXIM Bank; Omolola AbiolaEdewor, Executive Director, Nigerian Deposit Insurance Corporation (NDIC); Imaan Sulaiman–Ibrahim, DirectorGeneral, National Agency for Prohibition of Trafficking in Persons (NAPTIP and Lauretta Onochie, Personal Assistant to the President on Social Media, and INEC Federal Commissionernominee.

The rest of the Amazons are Dr. Yosola Akinbi Senior Technical Adviser, National Economic Council (NEC) (Office of the Vice President); Dr. Balikisu Saidu, Senior Special Assistant Legal, Research and Compliance Issues (OVP); Prof.

Fatima Waziri-Azi – Senior Special Assistant - Rule Of Law (OVP); Foluso Idumu, Senior Special Assistant On Administration (OVP); Lanre

Shasore, Senior Special Assistant On Coordination & Planning (OVP); Dr. Ebi Awosika, Senior Technical Assistant On Community Engagements (OVP); Olaolu Beckley, Special Assistant On Documentation (OVP); Edewede Akhidenor – Special Assistant, Administration (OVP); Nkoli Anyaoku– Special Assistant, Administration (OVP); Dr. Lilian Idiaghe - Special Assistant, Legal (OVP); Tolani Alli – Special Assistant On Visual Communications (OVP); Toyosi Onalapo - Special Assistant On Community Engagements; Haijya Halima Bawa – Special Assistant On Community Engagements; Nonye Ojekwe – Special Assistant On Community Engagements; Koko Iyamusa – Special Assistant Administration (Wife of the VP); Fakorede Omotayo Basirat- Special Assistant On Special Duties and Omotayo Rachael Omowunmi – Special Assistant On Household & Social Events.

COVID-19: SGF, Chief of Staff Get Vaccine Jabs Today Deji Elumoye, Olawale Ajimotokan and Udora Orizu in Abuja The vaccination of top federal government officials against COVID-19 pandemic, which began on Saturday with President Muhammadu Buhari and Vice President Yemi Osinbajo receiving their jabs will continue on Monday with the Secretary to Government of the Federation, Mr. Boss Mustapha and Chief of Staff to the President, Prof.

Ibrahim Gambari, billed for vaccination.

The vaccination exercise

billed to take place at the State House Clinic, Abuja by 10a.m, will see the SGF who is also the Chairman of the federal government’s Presidential Task Force (PTF) on COVID-19 and the CoS taking turns to receive their vaccination jabs from medical team put in place for that purpose.

THISDAY learnt last night that members of the PTF will also be vaccinated today.

The regular members of PTF, including the Minister of Health, Dr. Osagie Ehanire; Minister of Information and Culture,

Alhaji Lai Muhammed; Minister of Environment, Mr. Muhammad Mahmood; Minister of State for Health, Senator Olorunnimbe Mamora; Director General, Nigeria Centre Centre for Disease Control (NCDC), Dr. Chikwe Ihekweazu and the National Incident Manager PTF, Dr. Mukhtar Muhammad are among those that will join Mustapha to receive jabs of the vaccines.

Meanwhile, THISDAY also gathered that the Senate President, Dr. Ahmad Lawan; his deputy, Senate Ovie OmoAgege; the Speaker of the

House of Representatives, Hon Femi Gbajabiamila, and his deputy, Hon. Ahmed Wase, will tomorrow, March 9, 2021 receive the Astra-Zeneca COVID- 19 vaccines.

Spokesman of the House, Hon. Benjamin Kalu, confirmed to THISDAY last night that Gbajabiamila and Wase would be vaccinated tomorrow.

The Executive Director of National Primary Health Care Development Agency (NPHCDA), Dr. Faisal Shuaib while giving updates on the deployment of vaccines at the last Monday’s media briefing

of the Presidential Taskforce on Control of COVID-19, said more vaccination sites would be set up at designated locations such as National Assembly clinic, State House clinic and Federal Medical Centre, Jabi where strategic leaders would be vaccinated.

He said: “On Monday March 8, 2021, more vaccination sites would have been set up at designated locations such as National Assembly clinic, State House clinic and Federal Medical Centre, Jabi where strategic leaders such as the SGF, Senate President, Speaker of the House of

Representatives, Attorney General of the Federation, Inspector General of Police, the Ministers and Ministers of States, Senators, House of Representatives, traditional leaders and religious leaders would be vaccinated”.

However, when contacted the legislative aides of the National Assembly leaders had earlier told THISDAY that they were not aware of the vaccination dates for their principals.

It is expected that the 36 state governors and their deputies will be vaccinated on Wednesday.

market and hoarding the dollar remittances to the official market where they can get N415.

“Moreover, the cost per transactions would be 1.2% compared to 10% rate on OMO bills, which is very cheap and this introduces an incentive for Nigerians to deposit dollars into the system through remittances.

“I guess it’s cheaper than OMO to foreign portfolio investors (FPIs). If it works

it may actually trigger the much-needed convergence of FX rate in the currency market.”

He said since remittances into Nigeria from abroad was over $20 billion yearly, the policy might change the game, if effectively implemented.

He, however, noted that the downside to the policy would be if the parallel market could sell at a higher rate than the official rate.

OPS, ANALYSTS BACK CBN’S MEASURE TO BOOST DIASPORA REMITTANCES would have a positive impact on Nigeria’s modest exit from recession, boost foreign exchange input and reduce the pressure on the naira.

Olukanni, however, called for the introduction of a similar scheme in order to attract proceeds from non-oil exports’ earnings.

He said: “We are of the view that other areas which deserve attention in the quest to increase forex inflow is our non-oil exports which

are yet to be fully tapped due to reasons we all know.

“We hope to see appropriate incentives to boost foreign exchange by scaling up our non-oil exports as we grapple with what should be done to ensure the inflow of forex and also shore up the naira.”

An Associate Professor of Economics at the Lagos Business School, Dr. Bongo Adi, commended the initiative.

Adi said: “This is a good

and welcomed initiative although we might have to contend with the fact that it is sort of a devaluation of the currency.

“If you look at the macroeconomics of it, a lot of Nigerians in the diaspora have attachments back home and that has been why remittances have been a major source of Nigeria’s foreign exchange supply. If I were sending $1 and I can get more naira, I would be

encouraged to send in more money and keep here.”

Also, the Head of Research of the United Capital, Mr. Wale Olusi, said the scheme would discourage patronage of the parallel market and would be a game-changer in revamping the economy.

Olusi said: “If the exchange rate is N410, the CBN is offering an additional N5 premium on dollar deposit from remittances. This will lure people from the parallel

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Afenifere Hails Arrest of Notorious Bandit Leader, Wakili Police detain three OPC members Segun James Pan-Yoruba socio-cultural organisation, Afenifere, yesterday commended the Oodua Peoples Congress (OPC) under the leadership of Aare Gani Adams for the arrest of Mr. Iskilu Wakili, an alleged notorious Fulani bandit, in Oyo State.

The Police in the state have, however, confirmed the detention of three members of the OPC who were part of the team that arrested the notorious 75-year-old blind Fulani warlord.

In a statement signed by Oyo Police Public Relations Officer, Mr. Fadeyi Olugbenga, the police said the three OPC members were detained for alleged murder and arson.

The statement alleged that one unidentified female was burnt in the process of arresting Wakili, adding that the warlord’s house was also set ablaze.

But the National Publicity Secretary of Afenifere, Mr. Yinka Odumakin, who commended OPC in a statement, said, “Afenifere gives tremendous commendation to OPC under Iba Gani Adams for the arrest of Iskilu Wakili, a Fulani bandit who has been spreading terror on our people in Ibarapa area and the Nigerian Police and other security agencies unable to

do anything about him.

“The early morning peaceful arrest confirms our position on how effective local initiative can do well in homeland security.

THISDAY gathered that the joint team of Ibarapa security operatives, including OPC, local vigilante, and other groups arrested the alleged notorious the warlord terrorising Oyo communities.

Wakili and his gang were accused of involvement in the killings and kidnapping of several people in Ibarapa, Oke Ogun, Oyo State.

He was arrested barely seven days after his second-in-command, Mr. Isiaka Muhammadu, was nabbed alongside four others.

The Aare Ona Kakanfo of Yorubaland, Adams, confirmed Wakili’s arrest in a statement issued yesterday by his Special Assistant on Media, Mr. Kehinde Aderemi.

Adams said the warlord was arrested around 7 am yesterday and had been handed over to the Divisional Police Office in Igbo Ora, Oyo State.

He described Wakili as the ‘most-dreaded, notorious kidnap kingpin’ who has operated in Oyo State.

Adams said, “I am happy that the notorious kidnapper had been captured alongside three others.

Gunmen Abduct Police Officer in Benin Adibe Emenyonu in Benin City Gunmen have reportedly kidnapped a policeman attached to the State Intelligence Bureau (SIB) of the Nigerian Police in Edo State.

The abductors who were said to be heavily armed reportedly stormed the house of the police officer at Ogida area in Benin City in the early hours of Saturday where they were said to have forced their way into his apartment.

The victim identified as Clement Amoko, an Assistant Superintendent of Police (ASP), was said to have been forcefully taken away in the presence of his wife and children.

As at the time of filing this report, a source close to the

family said the kidnappers have contacted the family but could not disclose how much they were demanding as ransom.

It was gathered that the incident has led to the police intensifying rescue efforts while various units of the command and other security teams have been deployed around the state capital.

When contacted, the Police Public Relations Officer (PPRO), Princewill Osaigbovo confirmed the kidnap.

“Yes, I have been informed of the kidnap and the victim is of the SIB department but I am expecting details and other information of the officer from the division and the SIB department”, the PPRO said

SERAP Seeks Spending Details of $25bn Overdrafts Udora Orizu in Abuja The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to provide the spending details of the overdrafts and loans obtained from the Central Bank of Nigeria (CBN) by the federal government from 1999 to 2015.

It also Buhari to clarify whether the $25bn overdraft reportedly obtained from the CBN is within the five percent limit of the actual revenue of the government for 2020.

The Freedom of Information request dated March 6, 2021, and signed by the SERAP Deputy Director, Mr. Kolawole Oluwadare, said that disclosing the details of the CBN overdrafts and repayments would enable Nigerians to hold the government

to account and ensure that public funds are not diverted.

The FoI’s request reads in part: “The recent overdraft of $25.6 billion (about N9.7trn) obtained from the CBN would appear to be above the five-percent limit of the actual revenue of the federal government for 2020, that is, N3.9trn, prescribed by Section 38(2) of the CBN Act 2007.

“The SERAP notes that five-percent of N3.9trn is N197 billion while section 38(1) of the CBN Act allows the bank to grant overdrafts to the federal government to address any temporary deficiency of budget revenue. The Sub-Section 2 provides that any outstanding overdraft shall not exceed fivepercent of the previous year’s actual revenue of the federal government.

It is a good development and a positive signal to other criminal elements that the South-West is no longer an abode for bandits, kidnappers, and criminal herders.

“I commend all the members of the joint security team that has made this possible because with the video at my disposal, it was purely a neat job,” he

explained.

“With this development, I think the whole world will agree with me that the fight against insurgency, kidnapping, and

banditry needs native intelligence, information gathering, and grassroots support from local securities and operatives,” he added.

COMBAT READINESS…

L-R: Representative of the Permanent Secretary, Ecological Fund Office, Office of the Secretary to the Government of the Federation, Mr. Yusuf Addy; Chief of the Naval Staff, Vice Admiral Awwal Gambo; Minister of State for Health, Senator Olorunnimbe Mamora; Lagos State Commissioner for the Environment and Water Resources, Mr. Tunji Bello and Flag Officer Commanding, Western Naval Command, Rear Admiral Oladele Daji, at the flag-off of the construction of jetty and shoreline protection facilities at Underwater Warfare School, Ojo, in Lagos...weekend..

Presidency: Fire RavagedVilla’s Outside Perimeter Fence Deji Elumoye in Abuja The Presidency yesterday confirmed that a fire incident occurred outside the perimeter fence of the Presidential Villa, Abuja on Saturday.

The Media Assistant to the President, Malam Garba Shehu, in a statement said he had to make necessary clarification on the issue

based on concerns expressed by Nigerians at home and abroad over reports of a fire incident in Aso Rock Villa, the seat of the Nigerian government.

He confirmed that fire actually broke out in the evening of Saturday, March 6, burning shrubs between the outer wire fence and walls surrounding the Villa, precisely in the area between

the Villa and the Barracks, towards Asokoro.

According to him, the fire, as being speculated, might have started from a passerby dropping a burning cigarette, adding that the Federal Fire Service will ascertain the reason for it when they complete their investigation.

He further stated: “It suffices to say that this bush fire, which

started and ended outside the perimeter walls of the Villa, was seamlessly contained by fire stations of the State House and the one nearby from the Federal Fire Service. No loss of life, no loss whatsoever to building and property was recorded. We thank well-meaning Nigerians for expressed concerns”.

Zulum Uncovers 650 Ghost Households at IDP Camp Michael Olugbode in Maiduguri Borno State Governor, Prof.

Babagana Zulum has unearthed 650 ghost households during a surprised midnight visit to an internally displaced persons (IDP) camp in Maiduguri, the state capital.

The governor, had around midnight on Saturday showed up at Mohammed Goni College of Islamic Legal Studies in Maiduguri, where internally displaced persons

from Abadam Local Government Area of northern Borno were being camped.

According to a statement by the governor’s spokesman, Mallam Isa Gusau, the governor on arrival at the camp immediately closed the entrance and supervised a headcount to identify actual IDPs, in order to put a stop to rampant cases of dubious residents pretending to be displaced.

The ghost IDPs, are accused of spending day times at IDP camps

to share food meant for IDPs, and towards the night, returned to their homes to sleep, even as they were captured in another scheme with which the government distributes relief materials to the vulnerable persons living in communities.

At the end of the governor’s headcount which ended past 1a.m, it was discovered that out of 1,000 households in the records of humanitarian officials, 650 households were ghosts.

The governor could only

authenticate 450 households in the headcount he conducted alongside an official of the National Emergency Management Agency (NEMA), Air Commodore MT Abdullahi, and two commissioners - Agriculture, and Local Government and Emirate Affairs.

In humanitarian system, a household normally consist of at least six persons who are either related through families, or chose to stay together for the purpose of receiving household aids.

Military Battles Boko Haram on Maiduguri-Damaturu Highways Michael Olugbode in Maiduguri Movement of vehicles on MaiduguriDamaturu highway was halted for over three hours yesterday as military and insurgents engaged in gun battle.

Security sources told THISDAY that the insurgents at about 7a.m yesterday attempted to overrun a military detachment stationed at Lawan-Mainari village on Maiduguri-

Damaturu highway.

The village, according to the sources, is a few kilometres away from Jakana, which had witnessed several attacks from the insurgents.

One of the sources said the vehicles were prevented from journeying on the highways between 7 to 10 a.m as the combatants engaged each other.

He said the insurgents met their match in the military who never shifted side.

He said at the end of the battle, four insurgents were felled with the others retreated back into the bushes.

The soldiers after the attack, were said to have allowed the vehicles to continue their journey on the highway.

Confirming the incident, the Commander of Rapid Response Squad (RRS) charged with the responsibility of securing farmers,

motorists and passengers along the road, Abioye Babalola, told journalists that the attack had been repelled and travellers were safe as they all reached their destinations after the incident.

“It was Boko Haram sect that attempted to cause havoc between Mainok and Jakana villages, but they met their waterloo with support from ground troops and airstrike”.

PDP Sweeps All 25 Chairmanship Seats in Delta The Peoples Democratic Party (PDP) weekend, won all the 25 chairmanship seats in the Delta State local government council elections conducted by the State Independent Electoral Commission (DSIEC).

The election which was held on Saturday was adjudged as peaceful, free and fair by members of the PDP. However, the All Progressives Congress (APC) which pulled out

of the exercise at about 12 noon on Saturday when the election had begun, described the poll as a sham.

But the PDP in a swift reaction said it was not “surprised by the naive action and wellknown attention-seeking habit of APC to wait until election day to withdraw”, saying that “the decision of the opposition party is of no consequence to the electoral process, especially since

the stipulated time for all party activities concerning the elections to end, had since elapsed”.

Chairman of the State Independent Electoral Commission (DSIEC), Chief Mike Ogbodu, who spoke at the commencement of the announcement of the results, said the conduct of the elections were peaceful across the state.

According to results announced by the Returning Officers of each of the local government councils,

candidates of the PDP won in the 25 council areas, where candidates of other political parties, including APC contested the grass-root elections.

Ogbodu said the PDP candidate for Ethiope West, Mr. Oghenedoru Owoso was returned unopposed, adding that Certificates of Return would be presented to the Chairmen-elect, by 10 a.m. today.

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Lagos Seals 11 Night Clubs, Event Centres over Breach of COVID-19 Protocols Segun James The Lagos State Government on Saturday and yesterday sealed 11 facilities, including Event Centres, Lounges and Night Clubs among others for contravening COVID-19 directives.

The Director-General of the Lagos State Safety Commission, Mr. Lanre Mojola, made this disclosure yesterday after the sealing exercise.

Mojola acknowledged that the

affected event centres originally informed the agency of their intention to organise parties and events, but pointed out that they failed to meet the expectations of the agency on complying with COVID-19 protocols.

According to him, the number of persons approved for the events centres was far less than what the officials met on the ground when they visited the places at the weekend.

He said that those facilities were

sealed for non-compliance with COVID -19 Health Protection Regulations of the State and Federal Government.

Mojola, who was represented at the sealing of the property by Dr.

Wale Adeboje, the Events Safety Administrator of LSC, maintained that the enforcement exercise saw event centres, bars and lounge sealed between Saturday and Sunday.

The event centres, bars and lounges sealed between Saturday and Sunday include UBC Club, VGC, Sapearz Lounge, Awolowo road, Ikoyi, Bravo event centre, Ogba, Ronite Event Centre, Iju

Road, Agege.

Other sealed centres are All Season Event Centre, Ipaja, OlaideAdeoluwa Memorial Hall, Carabana Lounge/Bar Isolo, Ajao Estate.

Southern, Middle Belt Leaders Condemn Food Blockade by Northern Traders Deji Elumoye and Udora Orizu in Abuja The Southern and Middle Belt Leaders Forum (SMBLF) has expressed shock over the recent decision of the northern food sellers and cattle dealers’ association preventing the members from transporting livestock and food from the north to the southern part of the country, describing it as gratuitous insult.

Last week, cattle and foodstuff dealers under the aegis of the Amalgamated Union of Foodstuffs and Cattle Dealers of Nigeria, stopped supplies to the South following the federal government’s failure to meet their demands, which include payment of N475million compensation for destruction of lives and property during the #EndSARS protest and last month’s crisis in Shasha, Oyo State.

The Forum, in a statement issued yesterday and jointly signed

by Mr. Yinka Odumakin (South West), Chief Guy Ikokwu (South-

east), Senator Bassey Henshaw (South-South) and Dr. Isuwa Dogo (Middle Belt), lamented that this is a group whose members have been committing nefarious activities and owning up to them without consequences.

It recalled that when the herdsmen admitted killing 78 people in Benue State in January, 2018, President Muhammadu Buhari invited Governor Samuel Ortom to go and seek peaceful way to live with his killer neighbours.

The Forum said, ‘’We are appalled by the recent assault on the sensibilities of NonFulani Nigeria by food sellers and Cattle dealers association who were making outrageous financial demand as compensation from government. We are not unaware that the police that had not lifted a finger over the killing of Olufon of Ifon by herdsmen in broad daylight recently invited leaders of Ifon community to Abuja to come and explain missing cows.

Friends of Osinbajo Embark on Empowerment Programme Over the years, friends and associates have come together to reflect upon the sterling qualities that define Vice President Yemi Osinbajo’s personal and leadership style and have for his traditionally low-key birthday celebration chosen to support social impact causes that are close to his heart.

It will be recalled that as part of the events lined up for Professor Osinbajo’s birthday last year, 100 young entrepreneurs received business-defining grants of N1 million each that helped grow and advance their businesses, among other incubator support services from close friends and associates of the vice president under the auspices of ‘The March 8th Initiative”.

These “Friends of Prof’ conceptualised ‘The March 8th Initiative” to inspire and promote communal, entrepreneurial and public-spirited endeavours within Nigeria in honour of the vice president.

In a statement issued at the weekend, the group which organises the annual March 8th Initiative stated that for this year’s celebration, the initiative is expanding its reach and scope with a view to impacting a broader spectrum of Nigerians.

First, the Annual Entrepreneurship Development

Programme has been reorganised into four categories providing more opportunities for young Nigerians between 18 and 35 years old, giving one-off business grants, ranging from N100,000 to N1,000,000 to small businesses in Nigeria. The four categories cover varying stages of small business growth as follows: Big Idea Business Challenge, Business Support Challenge, Catalyst Support Challenge and the Bold Innovation Challenge.

Second, in addition to the Entrepreneurship Development Programme, the March 8th Initiative will recognise health workers nationwide who, in the face of a global pandemic, demonstrated exemplary courage, compassion, diligence, hard work and professionalism in carrying out their duties. Individuals are requested to nominate any health worker who has shown these qualities for a reward of N1 Million under a Health Grant Reward Category that acknowledges their invaluable service to our communities.

Additionally, the March 8th Initiative is undertaking a nationwide Ophthalmological intervention to provide succour in the form of surgeries and other therapeutic care for cataract and other eye defects.

SIGNED AND SEALED...

L-R: Executive Commissioner, Corporate Services, Securities and Exchange Commission (SEC), Mr. Ibrahim Boyi; Director General, SEC, Mr. Lamido Yuguda; and Executive Commissioner, Legal and Enforcement, SEC, Mr. Reginald Karawusa, during the virtual signing of agreement between SEC and AfDB on Nigeria Risk-based Supervision Framework Implementation and capacity building project in Abuja...recently

21 Herdsmen Missing in Anambra, MACBAN Alleges David-Chyddy Eleke in Awka The South-East Chapter of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) has alleged that no fewer than 21 herdsmen were missing in Anambra State from January till date.

The Zonal Chairman of the association, Alhaji Gidado Siddiki, who stated this yesterday at a press briefing in Awka, the Anambra State capital, called on the state government and traditional rulers to take action

to stop further attacks on his members.

Siddiki also condemned the way Fulani herdsmen were criminalised all over the country, saying the perception was exaggerated.

He said a recent attack on members of the group took place at the Mohammed Idris Herder’s Settlement at Ogborji, in the Orumba South Local Government Area of the state on Saturday, where four herdsmen were allegedly killed and hundreds of cows missing.

Siddiki identified the four victims as Hadari Umaru, Hamidu Umaru,

Aliu Idris and Hassan Idris.

“The four herders made it a total number of 21 of our members killed in the state between January and early March 2021,” he added.

He said the police had recovered the corpse of one of the victims, while three others were still missing.

According to him, two herders were killed in a similar manner in Ishiagu, in the Ivo LGA of Ebonyi State.

Siddiki said, “Until the recent attacks, members of the Miyetti Allah Association had enjoyed cordial relationships with their host

communities in the state and the entire South-East.

“The Fulani people in the SouthEast are not violent and we are not here to undermine the business of the people of the area. We are here to transact business and not to foment trouble.”

The state Police Public Relations Officer, Haruna Mohammed, said the Commissioner of Police, Monday Karyas, has ordered investigation into the latest attack on herders in Orumba South and the perpetrators would be brought to justice.

Abiodun Restates Commitment to Providing 2,000 Housing Units The Ogun State Governor, Mr. Dapo Abiodun, disclosed during the weekend that his administration would give Abeokuta a befitting position as a worthy state capital.

Abiodun disclosed this when he inspected the new housing project in Kobape, Obafemi-Owode Local Government Area of the state.

He said that the main objective of his administration in the housing sector is to provide 2000

affordable houses to the people of the state.

The governor said: “We are targeting 2000 units, which will make history since the creation of the state by any administration.

The first phase of this project is 500 units of two and three-bedroom expanded units.

“Before we embarked on this project, we did a survey in line with our inclusiveness. We wanted to be sure that the housing we are

providing meet the expectations of our people in terms of size of the land, building, affordability and the location of the project.”

He noted that the Kobape housing project has affected the ecosystem of the area as business activities have sprung up in the axis.

“As we replicate this model across the state, it begins to draw us closer to achieving our objective of empowering our people and

touching their lives positively.

What we are doing here is also going on in Ikenne, Sagamu, Ijebu-Ode, Ota and Ilaro,” he said.

Abiodun described housing as one of the pillars of the social well-being programmes of his administration.

The governor also assured that the ongoing reconstruction of the Sagamu-Kobape-Abeokuta Expressway would be completed by the end of May 2021.

AFRIMA Advocates for Better Pay for Women in Culture Industry In solidarity with the United Nations International Women’s Day 2021 (IWD 2021) themed: “Women in leadership: Achieving an equal future in a COVID-19 World” and the offshoot #ChooseToChallenge campaign, the All African Music Awards, AFRIMA, is joining the rest of the world to honour the strength of women, and celebrate their diverse social, economic, cultural

and political achievements.

AFRIMA has called for accelerated gender parity in general and better remuneration for women in the culture industry in Africa.

According to a statement issued by AFRIMA, the IWD 2021 turns the spotlight on the tremendous efforts by women and girls around the world in creating and sustaining the fight

against COVID-19, their roles in shaping an equal future in the recovery from the pandemic, while highlighting the underlying structural gender gaps that still exist.

The statement noted that COVID-19 struck the world in December 2019 and distorted the dynamics of human relations.

According to the statement, the pandemic revealed the institutional

gaps in society and amplified the need to create systems, safe spaces and opportunities for women, and also brought to fore the increasing importance of women representation in decision-making processes across all levels.

In her remarks, Music Executive and Member of the International Jury of AFRIMA for the Diaspora in North Africa, Ms. Hadja Kobele Keita, gave credit to women

Stop Being Tribalistic, Pope Francis Tells Nigerian Christians Catholic Pontiff, Pope Francis, has urged Christians in Nigeria to stop being sectional, and take the moral high ground.

Pope Francis, who took a swipe at churches that had opposed the appointment of Most Rev. Peter Okpalaeke as Bishop on the basis of his dialect, urged Christian

communities in the country to act as true followers of Jesus Christ by showing love to all.

The Pontiff said this while delivering the homily at a special mass to celebrate the first anniversary of the creation of the Ekwulobia Catholic diocese, weekend.

Represented by the Papal Nuncio to Nigeria, Archbishop Antonio Filipazzi, the Pope said, “While we acknowledge that the creation of the new diocese was necessitated as a result of the remarkable numerical growth of Awka Diocese in Anambra, we cannot remain silent about

another fact, a non-positive fact that preceded the appointment of the first Bishop of Ekwulobia.

“I recall it not to recriminate and make polemics, but as a warning. What has happened alerts us to certain dangers that threaten the life and mission of the Church.”

MONDAY MARCH 8, 2021 ˾ T H I S D AY

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AfBA Urges AU, ECOWAS to Effect Release of Venezuela Envoy The African Bar Association (AfBA) has called on the African Heads of States and governments to rise as a body, and persuade the authorities of the Cape Verde Island to rescue itself from the diplomatic mud of holding on to Ambassador Alex Saab, accredited Venezuela Special Envoy and Alternate permanent representative to

the African Union.

AfBA’s President, Mr. Hannibal Uwaifo, who made the call in a World Press Conference in Lagos, said the continued detention of Saab since June 2020 for possible extradition to the United States, violated settled global diplomatic virtues and statutes, as contained in the Vienna Convention.

He argued that Cape Verde’s action, according to investigation by the Human Rights Committee and review by the AFBA Executive Committee, was found to be clearly below the accepted international rules of engagements.

He described the detention of the envoy as not only unsanitary but totally

unsalutory to Africa’s collective diplomatic decency and stature.

“We demand that Alex Saab should be released immediately and his persecution and chastisement in custody illegally in Cape Verde merely to satisfy the whims of a super power be brought to an end immediately as ordered by the binding

My Govt Won’t Tolerate Killings in Ekiti, Says Fayemi Victor Ogunje in Ado Ekiti The Governor of Ekiti State, Dr. Kayode Fayemi, yesterday visited the families of two farmers who were killed in Isaba Ekiti, Ikole Local Government Area of the State, reiterating that the lives of Ekiti people are sacred to him and would do everything possible to protect them.

The governor also sympathised with the families of the deceased,

promising to ensure that the culprits are apprehended and brought to justice.

The two farmers were killed in their farms last Friday by suspected herdsmen, who had earlier had confrontation with the victims.

The killings sparked serious violent protest in the town last Saturday as many youths trooped out to condemn the horrendous action.

However, the People’s

Democratic Party (PDP) in Ekiti State has decried incessant killings by suspected Fulani herdsmen in the state, challenging the state Governor, Fayemi, to stop playing politics and take decisive steps to end the mindless killings.

The PDP, which sympathised with the families of the people killed by suspected Fulani herdsmen in Ikole LGA last Saturday, said: “The killing by herders must stop now, and that the governor must

act with sincerity of purpose.

But Fayemi, who visited the town, was quoted as saying in a statement issued by the Information Commissioner, Akin Omole, yesterday that: “Every life in Ekiti State is sacred, and by the grace of God, and with the sincere commitment of the state government to the protection of lives and property, as well as the cooperation of our people, justice will be done.

Sharibu’s Parents Beg Buhari to Fulfill Promise The parents of Leah Sharibu, one of the 110 schoolgirls abducted from Government Girls’ Science and Technical College (GGSTC), Dapchi in Bulabulin, Yunusari Local Government Area of Yobe State, have called on President Muhammadu Buhari to fulfill

his promise to the family.

In a statement issued yesterday by the Executive Director of LEAH Foundation, Dr. Gloria Puldu, the parents explained that “Leah is now three years in captivity”.

Leah’s parents, Nathan and Rebecca Sharibu, reminded the

president that he had promised them in a telephone conversation two years ago that he would secure the freedom of their daughter.

They said the entire world and indeed, the international community were waiting for Buhari to fulfill that promise.

Leah Sharibu was one of the 110 female students who were abducted

by Boko Haram terrorists.

While others were released by the terrorists following negotiations, Leah, then 14 years, is still being held captive because she refused to renounce her Christian faith.

unanimous ECOWAS Court ruling on December 2, 2020.”

He added: “We acted on the petition of Ambassador Saab’s wife, which revealed that aside her husband being a known cancer patient, denied his drugs, denied access to family and defense attorneys, stripped of his diplomatic privileges against

ECOWAS Court injunction to the contrary, he is viciously and frantically being packaged for delivery to the US by Cape Verde government, facilitated by enormous pressure through a contrived extradition procurement, with unimaginable damage to our civility and civilization, if ever allowed to stand in any African soil”.

Bauchi Constructs N4.8bn Mega City to Provide over 2,500 Jobs Segun Awofadeji in Bauchi The KK Kingdom Nigeria Limited, an indigenous Nigerian construction company based in the FCT Abuja, has been contracted to construct the new KAURA mega city at N4.8 billion in Bauchi State capital.

THISDAY reports that Bauchi State Governor, Senator Bala Abdulkadir Mohammed, alongside his Bayelsa State counterpart, Mr. Douye Diri, last week flagged off the project and the 2.8 kilometres Tambari bye - pass road been handled by KK Kingdom Nigeria Limited.

The Vice President of the KK Kingdom Nigeria Limited (KKKN), Mr. Abdullahi Nasiru

Abdullahi while addressing newsmen on the activities of the company in Bauchi yesterday said: “The project is based on Public Private Partnership (PPP) with the Bauchi State Government and it comes at no cost to the Bauchi State government.

“The KKKN and our financier, Norrenberger, will work together in delivering this project in 18 dry months, and we also aim to finish the Tambari bye - pass road by July ending this year.

“Another very important aspect of the project is that it will create over 2,500 jobs in Bauchi State and enhance the employability of the people of the state. It will help the people to develop themselves.”

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Senate Queries Ministry, NNPC over Non-remittance of N4.2tn Deji Elumoye and Udora Orizu in Abuja The Senate Committee on Public Account has accused the Ministry of Solid Minerals of alleged nonremittance of N2 billion into the Federation Account.

This is just as the committee, chaired by Senator Mathew Uhroghide, also uncovered how the Nigerian National Petroleum Corporation (NNPC) allegedly spent N966 billion to repair pipeline between 2010 and 2015, as contained in the report of query by the Auditor General of the Federation (AuGF) over alleged unremitted N4 trillion by NNPC into the Federation Account.

From records presented for audit, it was noted that the sum of N2,838,351,664.97 was collected as solid mineral revenue from

January to December 2016, but this amount was not paid into the Federation Account for distribution in 2016 contrary to Section 162 of the Constitution of the Federal Republic of Nigeria.

The committee has, therefore, requested the Permanent Secretary of the ministry to explain why the ministry failed to pay the revenues collected into the Federation Account as required by the constitution.

The ministry, however, failed to respond to the query of the AuGF on the issue of non-remittance of N2 billion into the Federation Account.

The committee at its sitting last Friday resolved to summon the officials of the ministry to explain why it declined to remit into the Federation Account.

Also, the committee discovered

that the NNPC allegedly spent N966 billion to repair pipeline between 2010 and 2015.

The query raised over the said spending read: “It was observed from the examination of NNPC report to Technical Sub-Committee of Federation Account Allocation Committee meeting held in

December 2016 that a cumulative total of N4,076,548,336,749.75 as summarised below and detailed, remained unremitted to the Federation Account by NNPC as at December 31, 2016.

“The total revenue unremitted as at January 1, 2016, (see the table above) from amounts payable

into the Federation Account by NNPC was N3,878,955,039,855.73, which was not completed. The sum of N1,198,138,355,860.30 was due in revenue to the Federation Account out of the total generated in 2016, however, NNPC paid the sum of N1,000,545,058,966.20 resulting in an amount withheld

of N197,593,296,894.02.”

But, NNPC, in a written response to the committee claimed that the unremitted N4 trillion was arrived at without taking cognisance of the subsidy and pipeline repairs and management associated with domestic crude oil transaction.

NHIS Moves to Recover N27bn from Banks, Federation Account Over 10m Nigerians now subscribe to health insurance Onyebuchi Ezigbo in Abuja The Executive Secretary of the National Health Insurance Scheme (NHIS), Prof. Mohammed Nasir Sambo, has disclosed that the management of the Scheme is making efforts to recover missing funds of about N27 billion.

According to Sambo, “We have about N11 billion trapped in the Federation Account since 2014.

We have been meeting with the Minister of Finance to see how to get it back. Also, we have been pursuing another N10 billion lodged in Heritage Bank, and the Economic and Financial Crimes Commission (EFCC) has been helping us to recover it. When there was COVID-19, N6 billion was taken from the NHIS account without notice.

“So, we are working on recovering those resources, and we have agreed at the level of management that a proportion of the money that are recovered will

WE SHARE YOUR GRIEFS…

L-R: Son of the deceased, Mr. Tony Okokon; representative of the Nigerian Army, Lt. Col. DS Aghedo; daughter of the deceased, Mrs. Lauretta

be put on strategy investment,” Odusolu; and her husband, Mr. Babajide Odusolu; during the burial of the late Col. Lawrence Okokon(rtd), in Lagos… recently he said.

Speaking on progress so far made in improving the subscription for the insurance scheme, Sambo said over 10 million Nigerians have now subscribed to the NHIS. He stated that so far, about Adedayo Akinwale in Abuja arraigned the contractor, Mr. Other Related Offences Act, 2000, sum of N1 million through his 10,269,996 have enrolled into the Sunday Efeoluwa, for allegedly punishable under Section 10 (a) personal account with Ecobank scheme as at last Friday.

The Independent Corrupt Practices paying bribes to the two former (ii) of the same Act against the and his company’s account with Zenith Bank to also facilitate the In his progress report presented and other related Offences council members to influence three accused persons. at an informal engagement with Commission (ICPC) has arraigned the award of a contract to his All the accused persons award of contract to the same health correspondents in Kaduna two former Governing Council company, Goldmark Concept pleaded not guilty, and the bail person.

Also, Omah allegedly last weekend, the Executive members of the Federal University, Limited, before Justice Abbas applications, which were not Secretary of NHIS, Sambo, said Dutsin-Ma. Bawule of the Katsina State opposed by counsel to ICPC, received N1 million bribe in the organisation has been able to Garba Ibrahim, was granted by two installments of N500, 000 Emmanuel Omah and High Court. each through his accounts in save money from it cost-saving Muhammad Jibrin are in court The commission preferred the trial Judge. reforms.

Jibrin, who is facing a Access bank and First bank for allegedly receiving N2 million a nine-count charge bordering On the progress made in kickbacks from a contractor on bribery and gratification four-count charge out of the respectively, to influence the raising the subscriber base of the handling projects in the university. contrary to Section 10 (a) (i) nine-count charge, was said award of the contract to the scheme, he said: “The population The anti-graft agency also of the Corrupt Practices and to have allegedly received the contractor’s company. of Nigerians that have enrolled in the health insurance scheme has risen to 10,269,996 from 6 million earlier reported by the National Demographic Health Survey (NDHS.).”

He asked: “How does the CDHR, Dr. Osagie Obayuwana, argued that: “Dealing with the Alex Enumah in Abuja gave the hint while reacting to security issue in its fullness marching order fit into the The Committee for the Defence President Muhammadu Buhari’s calls for a change of focus and existing deadlock? One would of Human Right (CDHR) has charge to Service Chiefs to shoot a commitment to fresh priorities.” have expected a general call While not opposing Buhari’s for the bandits posing as identified dialogue as well as at sight anyone found with AK-47 involvement of critical stakeholders riffle in the in forests in Nigeria. order to the security chiefs, herdsmen to be given an Obayuwana, who commended the CDHR expressed some ultimatum, this time, from as the only way to finding lasting solutions to the numerous security President Buhari for rising to the reservations wondering how it the presidency or military challenges facing Nigeria as a challenge of insecurity in almost would resolve the frequent clashes headquarters, to surrender unabated in APC-controlled states country. all part of Nigeria with the charge between farmers and herders in their arms within a given period or face extinction. like Kaduna, Katsina, Borno, Yobe, The National President of the given to the new service chiefs, many parts of the country.

Niger, Nasarawa, Plateau and Kogi, and yet there was no attempt by the presidency to impose a state of emergency or declare a no-fly zone.

The group accused the presidency The Centre for Nigerian Dutch a sustainable national dairy sector at the webinar would include Jeroen Elfers. of adopting a selective approach to Dairy Development (CNDDD) and value chain in Nigeria.

The webinar would highlight the Chief Operating Officer of the fight against banditry, terrorism has announced that it will host a The CNDDD webinar URUS, Mr. Keith Heikes; Head of the key building blocks required and kidnapping. webinar in partnership with the titled: “Harnessing the Great Animal Science, Nasarawa State for a sustainable dairy sector in It advised the presidency to Federal Ministry of Agriculture Unpolished Diamond of Africa” University, Prof. Mohammed Nigeria and provide insights go back to the drawing board and Rural Development (FMARD) slated for March, according to a Maikano Ari and Corporate into best practices around cattle and adopt a holistic approach to and the Central Bank of Nigeria statement, will have journalists Director, Dairy Development, breeding and the importance of quell the prevailing insecurity in (CBN) on topics that will enable in virtual attendance. Speakers Royal FrieslandCampina, Mr. good animal nutrition. the country.

The group also noted that the state Governor, Bello Matawalle, was not the first governor in the Northwest to adopt dialogue as The Ministry of Finance, their input in the planned process will serve as a buildup to further Working Group (TWG) of the a solution to tackle insecurity Budget and National Planning for its review. planned consultations with the review of the policy, Mrs. Olusola in the country, adding that the in conjunction with other Schedule to hold tomorrow, the ministries and their development Idowu, said: “This webinar will governor adopted an intervention international development partners webinar is designed to sensitise partners. help the public understand the approach as a distressed measure is set to host an enlightenment the public on the policy and its Speaking on the objective of the key aspects of the policy for better following the failures of the webinar session billed to enable relevance to them. As part of webinar, the Permanent Secretary, ownership and how to benefit security agencies to guarantee stakeholders effectively understand stakeholder engagement, the Minister of Budget and National from government’s intervention the security of lives and the provisions of the National general public is considered a Planning, who also doubles as efforts in providing social safety property in the state.

Social Protection Policy and make major stakeholder and the webinar the Chairperson of the Technical nets for its citizens”.

ICPC Arraigns Two Ex-Governing Council Members of FUDMA for Alleged Fraud

CDHR Sues for Dialogue, Popular Participation to Resolve Security Challenges

Zamfara Group Asks APC to Stop Playing Politics with Security Tobi Soniyi A civil society group, the Patriots for the Advancement of Peace and Social Development (PAPSD), has charged the All Progressives Congress (APC)-led federal government to stop playing politics with the lives of Nigerians.

The Executive Director of PAPSD, Dr. Sani Abdulahi Shinkafi, in a statement he issued at the weekend, also faulted the no-fly zone order imposed on Zamfara State by President Muhammadu Buhari, saying it is a plot to declare a state of emergency in the state.

PAPSD also stated that the National Security Adviser (NSA), Major General Babagana Monguno (rtd), has failed woefully in the discharge of his duties.

The group wondered why Zamfara State should be singled out for a no-fly sanction while banditry, terrorism, kidnapping and other forms of violent acts continued

Nigerian-Dutch Centre Partners FMARD, CBN on Dairy Devt Webinar

FG to Host National Social Protection Policy Review Webinar

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˜ ΀˜ ͺ͸ͺ͹ ˾ T H I S D AY

MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

NPFL: Kwara Utd Draw at Wikki to Remain at the Summit Kano Pillars, Rangers share points to trail the leaders

Duro Ikhazuagbe Kwara United remained on top of the Nigerian Professional Football League (NPFL) yesterday despite picking a point away at Wikki Tourist.

Jibola Adeleke’s 82nd equaliser gave the leaders from Ilorin the point in Bauchi, which keeps them at the summit of the Nigerian topflight.

Before Adeleke’s goal, Chinedu Udeagha had put the hosts ahead from the spot in the 39th minute. Kwara are on 26 points from 14 matches.

Elsewhere, Kano Pillars and Rangers, who battle to another 1-1 result, trail the leaders by two points. Both Pillars and Rangers have only goal difference advantage over Enyimba, who are rested for the forthcoming continental fixture.

Nasarawa United are fifth on the log, while Rivers United moved up a step to seventh spot.

Adamawa United won their second match of the season but still remained at the drop

MATCH DAY 14 Heartland 2-2 Abia Warriors Rivers Utd 2-0 Jigawa GS Plateau Utd 3-1 MFM Nasarawa Utd 1-0 Lobi Katsina Utd 0-0 Sunshine Adamawa 2-0 Dakkada Kano Pillars 1-1 Rangers Wikki 1-1 Kwara Utd

zone, while Warri Wolves and FC IfeanyiUbah, who both have an outstanding fixture, as well as Katsina United complete the bottom four.

Ernest Governor’s ninth minute strike gave Rangers the early lead against the Sai Masu Gida. Auwalu Malam equalised for Pillars three minutes before the break.

Former champions Plateau United defeated MFM FC 3-1 at the New Jos Stadium.

Mohammed Zulkifilu opened scoring for the home team in the 56th minute and added the second 20 minutes later.

Nojeem Adeyinka reduced the deficit for MFM in the 81st minute, but Isah Ndala restored Plateau United’s two-goal cushion four minutes before full-time.

In Port Harcourt, Rivers United returned to winning ways defeating Jigawa Golden Stars 2-0. Godwin Aguda and Cletus Emotan got the job done for the Pride of Rivers people.

Heartland battled back from two goals down to share points 2-2 at

game to hand initiative to the visitors but Heartland

fought their way back with two penalties from

Pascal Eze and Samuel Nnoshiri.

Jan Blachowicz of Poland (left) celebrating retaining his light heavyweight title against Nigerian-born Israel Adesanya during their UFC 259 event at UFC APEX in Las Vegas, USA...early hours of Sunday morning

Sports Minister to Commission Real Madrid Academy on Tuesday History will be made on Tuesday in Port Harcourt as Minister of Youth and Sports Development, Mr Sunday Dare will commission the Real Madrid Academy in Port Harcourt, Rivers State.

The Academy was earlier billed for commissioning last year but had to be postponed

Tallen Calls for Support for Women’s Football Minister of Women Affairs, Pauline Tallen, has made a clarion call to the organised private sector to support the country’s women football.

She insisted that the task of empowering the girl/child is a duty for all.

Speaking in her office in Abuja last Friday during a courtesy visit by officials of the Nigerian Women Football League (NWFL) led by its chairperson, Aisha Falode, and its Chief Operating Officer, Dupe Shabi, the Minister urged patriotic Nigerians and corporate bodies to help grow the league, which she noted has produced great players for the country.

Tallen assured the NWFL of her continued support, pledging to lead its campaign for sponsorship and a level-playing ground for the development of women football.

Commending the football body for its efforts to raise the standard of the women’s game and being good ambassadors despite all the odds against them, Tallen also praised the girls, clubs and their financiers for their perseverance despite the harsh economic climate.

Speaking earlier, NWFL Chairperson, Aisha Falode, had intimated the minister on the challenges facing the women league, adding that society still doesn’t give the girl/child the chance to

home to Abia Warriors. Godwin Obaje scored twice early in the

develop and make the best of her talents.

Falode said Nigerians could empower and engage the girl/child using football, adding that so many talented girls have become their families’ breadwinners through football.

According to Falode, “The under investment and lack of value for women has stifled our country in so many areas, while in other climes, women have proved very essential in their developmental strides.

“Apart from one or two clubs, most of the other club owners in Nigeria still pay the men far better than the women. These are clubs owned and run by same governments.

“Some Nigerians still fail to see the need to treat women in sports with respect despite all the odds they surmount to fly the country’s flag high in global circles. It is on record that Nigerian women have won more laurels for the country than men, yet the men are still better treated than women.

Aisha singled out Sports Minister, Sunday Dare, Nigeria Football Federation (NFF) President, Amaju Pinnick, and NFF Secretary General, Mohammed Sanusi, for their sterling roles in developing women football and called on other Nigerians to follow their footsteps.

due to the impact of Covid-19 pandemic.

According to the prospectus of the Academy, the institution will be free to all Rivers State Indigenous intakes who will constitute 70 percent of the school, while 30 percent would be opened to other states across the country.

The Academy is in partnership with Real Madrid Football Club of Spain meant to nurture future stars by combining football with academics.

The Academy is opened to kids between ages 5- 17 years.

Real Madrid signed an agreement with the Rivers State Government to provide technical

assistance to the academy.

The Real Madrid Football Academy in Port Harcourt was founded in 2019 by the Rivers State government having been given the Franchise to operate by the Real Madrid Foundation in 2019.

The main objective of the Academy is to promote football

values as a profession in Rivers State and Nigeria.

The Real Madrid Football Academy Port Harcourt is an educational tool geared towards contributing to the comprehensive development of the personality of youths by creating jobs and wealth.

UFC 259: Blachowicz Beats Adesanya to Retain Title Light heavyweight champion, Jan Blachowicz picked up significant win at the UFC Apex early hours of Sunday morning in Las Vegas as he puts Nigerian born Israel Adesanya to his first career defeat in the main bout of the night.

Poland’s Blachowicz produced a controlled, calculated performance to hand middleweight champion Israel

Adesanya the first defeat of his MMA career.

Blachowicz and Adesanya traded shots through the first three rounds, with the faster, sharper Adesanya appearing to edge the action heading into the championship rounds.

But Blachowicz, 38, switched gears in rounds four and five and turned to his wrestling as

he took the 31-year-old to the canvas midway through each of the final two rounds, and didn’t let the Nigerian-born Kiwi back to his feet as he dominated the action on the canvas.

After the bout went the distance, the three octagon-side judges each scored the fight for the Pole, with Blachowicz registering the first defence of

his title with scores of 49-46, 49-45, 49-45.

In the night’s co-main event, two-division women’s champion Nunes retained her featherweight title with ease as she overwhelmed top contender Megan Anderson with strikes before submitting her with an armbar after just two minutes, three seconds.

PREMIER LEAGUE

United End City’s 21-game Unbeaten Run in Manchester Derby Manchester United brought from the spot despite City and bar, but United effectively before beating Ederson with Manchester City’s sequence keeper Ederson getting a sealed the win - condemning a low shot. of 21 successive victories strong hand on the ball, City to their first loss since Solskjaer’s team, who had in all competitions to a then United fashioned the a 2-0 defeat at Tottenham not scored in their previous crashing halt with an win with a mixture of solid on 21 November - when the three games, moved back impressive 2-0 derby defence and constant menace outstanding Shaw, who had into second place a point victory at Etihad Stadium. on the break. earlier missed a chance to ahead of Leicester City Pep Guardiola’s side still Rodri almost equalised just double United’s lead, led a in the increasing tight have what looks to be an after the break when his shot counter-attack, exchanging fight for a place in the unassailable 11-point lead glanced off the angle of post passes with Marcus Rashford top four. at the top of the Premier League, but the manner in which United subdued a previously unstoppable City and enhanced their own top-four chances will be a huge confidence boost to manager Ole Gunnar Solskjaer and his players.

United, who have now gone 22 league away games unbeaten - including 14 wins - stunned City with a fast start and were ahead after a penalty was awarded inside the first 30 seconds when Gabriel Jesus fouled the impressive Bruno Fernandes (in front) and his Manchester United’s teammates celebrating the 2-0 defeat of Antony Martial.

Bruno Fernandes scored Manchester City at the Etihad...yesterday

Monday March 8, 2021

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Soyinka to Govs

“I want to make a plea to all governors, stop being so timid. Push this federal envelope as far as it can go, even while we undertake the technical aspect of restructuring. Whether in terms of dialogue, evolving the constitution or whatever, something has to go on, after all, we’ve had so many of these confabs” – Nobel laureate, Prof. Wole Soyinka, urging state governors to push for greater autonomy from the federal government.

ENIOLABELLO ENI-B

eniola.bello@thisdaylive.com

0805 500 1956

Yahaya Bello: The Ugly Face of APC

F

or several weeks now, Kogi State Governor Yahaya Bello has been running a daily front page strip advertisement, in at least four newspapers, which are, on the surface, a campaign for new membership for the ruling All Progressives Congress (APC) in his capacity as Chairman, APC Youths, Women and PLWDS Mobilisation Committee.

Looking closely, however, the daily strip front page advertisement with one bold message, “Join Africa’s Largest Political Party”, is simply Bello’s drive for cheap visibility in pursuit of his much-trumpeted ambition to take over from President Muhammadu Buhari in 2023.

Since the beginning of the year, some members of Bello’s cabinet, Secretary to the State Government (SSG) Folashade Ayoade and Information Commissioner Kingsley Fanwo in the forefront, have enjoyed listening to their own voices, granting interviews, addressing press conferences, and organising marches all for Bello 2023 Presidency. The Matthew Kolawole-led Kogi Assembly even visited their counterparts in Sokoto to drum support for Governor Bello. The Kogi governor has also played host to all manner of youth groups pledging support for his ambition and honouring him with some funny awards.

Some ex-Super Eagles players, with Jay Jay Okocha in the forefront, packaged the latest of such awards, ‘The Captain and Pillar of Nigerian Youths’.

There can be no doubt that Bello is the one engineering all those, to use a local parlance, ‘arrangee’ awards from the motley crowd of youth groups bombarding Lugard House, Lokoja. There can be no question that the Kogi governor is the one pulling the strings for the factotums in his cabinet, and the Kogi Assembly, to be running everywhere and nowhere in the name of pushing Bello’s 2023 presidential bid. It is also a no-brainer that the APC cannot be paying for those daily front page strip advertisements displaying Bello, grinning from ear to ear, dressed as Ebira (he is one), Yoruba, Hausa, Igbo, Ibibio, etc., when he is neither the party’s national chairman nor its presidential candidate, yet.

It is only logical to therefore conclude that Bello’s drive for cheap visibility is an expensive burden on the people of Kogi State as the funding of those daily advertisements and the ‘arrangee’ awards and the marches and the state legislators’ jamboree to Sokoto could only have come from the meagre resources of the state, directly or indirectly.

The curious thing is that those waving the banner of Bello’s suitability for the 2023 presidential election do not have any verifiable concrete record of achievement with which to sell him. They only talk about the fact he is young, as if youth and vision cannot be mutually exclusive. They have so far failed to anchor Bello’s suitability for the presidency, post-Buhari, on the peg of any high-performance indicators as governor of Kogi State in the last six years or thereabouts.

Indeed, Kaduna State Governor Nasir el-Rufai, who led the APC’s 2019 re-election campaign for the Kogi governor, unable to wave the banner of something concrete Bello had done in four years, had to dramatically kneel on the campaign podium to plead with voters for forgiveness and understanding. Even

Bello at that, Bello’s supporters celebrated his re-election victory with a song enveloped in a chorus of ta-ta-ta-ta, an onomatopoeic sound of the heavy gunshot-induced violence and bloodshed and killings from which he procured his second term.

Bello’s notoriety for his re-election victory is only surpassed by his ill-informed response to the COVID-19 pandemic. Since the global response to the pandemic early last year, he has, consistently cast doubt on the existence of COVID-19, insisted that there were no infections in Kogi State, frustrated officials of the NCDC (Nigeria Centre for Disease Control) from operating in the state, supplanted science with his opinion, dismissed the necessity for vaccination, and has refused to wear face mask, except of course when he has to visit the State House, Abuja for his regular photo ops with President Buhari. The Kogi governor has in the last one year made some dense statements on the global management of the pandemic that would have been laughable were the responsibility of his office not made them so tragic.

Permit me to recall a few of his statements.

“Nothing kills faster than fear”, Bello told mourners June last year at the three-day prayers in Lokoja for the late Kogi State Chief Judge Nasiru Ajanah, adding, “COVID-19 is only out to create fear, panic, pandemic. It is a disease created to shorten the lifespan of the people. It is a disease propagated by force for Nigerians to accept”. He insisted that Ajanah, who had days earlier been buried in Abuja in accordance with COVID-19 protocols, did not die from coronavirus as Kogi is free of the pandemic. “In Kogi, we say we have no COVID-19, and actually we have no COVID-19”, he affirmed at another forum late December last year as if those resident in that state breathe a different air from other Nigerians. And in a viral video January 19 this year, he claimed, without referring to any scientific authority, that COVID-19 vaccines were being produced to kill the people. “Vaccines are being produced in less than a year of COVID-19… They want to use the vaccines to introduce the disease that will kill you”, he had proclaimed in a convoluted logic.

So embarrassed were his brother governors

that the NGF (Nigerian Governors’ Forum) had to quickly disavow Bello’s statement. Forum Chairman and Ekiti State Governor Kayode Fayemi had to dismiss any fears of division among the governors in their handling of the pandemic. “We have 35 governors on one side.

Only one of us has a divergent opinion”, he had told an interviewer. Without mentioning the name of the particular state governor who had opted to walk alone, Fayemi listed a few burdens that leadership imposes in a time as this. According to him, “It is very unfortunate to say that the pandemic doesn’t exist. As democracy demands we can hold our views, but as leaders the welfare of our people should be paramount to us… For whatever reason, we shouldn’t mislead our people and if we do, we must hold ourselves vicariously responsible if they become careless on account of (their) belief in us as thought leaders and influential opinion moulders. Some are even saying the vaccines are to eliminate Africans.

It is just unfortunate… I can tell you without any shadow of doubt that we don’t follow opinions, we follow science.”

Bello may not have grasped the import of Fayemi’s statement having lately become excitable and distracted with mobilising new members for the APC and making himself a self-appointed negotiator (on behalf of nobody) the lifting of the food blockade on the south by northern traders. However, every line of what Fayemi said boldly paints the image, character and essence of the Bello administration. I will limit myself to two leadership burdens that Fayemi mentioned in that interview for which Bello would be at sea.

One, Fayemi said “… as leaders, the welfare of the people should be paramount to us…”

From his handling of the Covid-19 pandemic, it is doubtful if the Kogi State governor knows what it is to govern with the welfare of the people at heart. If he did, he would have sought the advice of his commissioner for health and other health professionals in his government before dismissing the deadly impact of COVID-19, or making the ignorant claim that Kogi is free of the pandemic, or alleging that the vaccines were being produced to kill the people. Whatever may be his personal view on the pandemic, his decision, as governor, impacts on the welfare of millions of Kogi residents. His leadership position therefore imposes on him the burden of making decisions after consultations with professionals and experts, after a review of scientific authorities, and after an examination of national policy within the context of global best practice.

It is dangerous to make policy pronouncements, especially on matters of public health, on the whims of an individual whatever office he may occupy. Leaders, who like Bello, dress their personal views as policy pronouncements would only lead their people down a blind alley. Such leaders are dangerous. Bello may, however, not understand this on account of an arrogance wrapped in ignorance, his vanity and vacuousness, and his delusional pretence to statesmanship. Were he not completely lost, he would not have belittled the on-going COVID-19 vaccination exercise that has just taken off in the country.

“COVID-19 is not our business in Kogi State…

I am not going to subject the people of Kogi

State to vaccines or vaccination and I will not make them the guinea pigs. I as a person, I don’t need to take vaccines… I am 100 per cent healthy”, he was quoted on a television programme over the weekend.

Two, Fayemi said leaders also have a burden not to mislead their people. It seems Governor Bello’s singular communication strategy has been to mislead the people of Kogi State.

He has been able to do this because he’s always surrounded himself with political minions (save his latest Policy Strategist, Dr Ronke Bello) who are all too contented to ape his every word. In fact, mislead does not adequately describe his situation. Like Macbeth’s Shakespearian witches, he lies like truth. When early February, the National Incident Manager of the Presidential Task Force on COVID-19, Dr Mukhtar Mohammed, listed Kogi as one of the high-risk states to visit because the state has neither testing nor isolation facilities, the government took an eight-page advertorial in The Nation to denounce the PTF with misleading messages.

Signed by SSG Ayoade, the Kogi government claimed, without fear and without proof, that it distributed free face masks “to her citizens”, purchased rapid test kits with which it carried out thousands of tests “on her citizens”, and has “standard and fully equipped isolation centres in strategic locations” in the state.

These are false claims. How could a governor who does not personally wear face mask nor think it is necessary to so do approve the procurement of free face masks for his people?

How could a governor who had frustrated officials of NCDC from carrying out COVID-19 tests in the state have purchased test kits for the same purpose? How could a government which is perceived to have recruited touts to ransack the Federal Medical Centre (FMC), Lokoja for admitting a COVID-19 patient have invested in fully equipped isolation centres?

Where are those isolation centres located in the state? Could Bello have done all this without making a song and dance of it in the media? The fact is hospitals in the state do not even disclose they have patients on admission for COVID-19 for fear of getting the FMC Lokoja treatment.

The Kogi government stated in the same advertorial that “COVID-19 is less fatal than catarrh in more than 96% of cases”. Nothing could be more criminally misleading. There is no medical authority that says catarrh is fatal. The British NHS (National Health Service) in one of its advisories, says catarrh may be chronic when people experience it for months or years. Even at that, the NHS affirms, “Catarrh can be a nuisance and may be difficult to get rid of, but it’s not harmful and there are treatments available.”

It is therefore strange that a governor who, with his utterances and actions on the management of COVID-19, has consistently embarrassed the ruling party could be appointed to chair a committee to drive new membership.

With the Kogi governor’s shenanigans, why should anyone desirous of a better country take the APC serious? If Bello is the face of the new APC in the making, his is an ugly one. That he would even contemplate contesting the presidential election in 2023 speaks to how low his “political father” has reduced Nigeria.

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