WEDNESDAY 15TH JULY 2020

OPEC Forecasts 25% Rise in Oil Demand in 2021 Tension eases as S’Arabia speaks to Iraq, Nigeria

Ejiofor Alike and Peter Uzoho with agency reports The Organisation of Petroleum Exporting Countries (OPEC) has predicted that the demand for crude oil will rise by 25

per cent in 2021 to average 29.8 million barrels per day (MMbpd), higher than the 2019 demand level.

Tension in the oil market has also eased as Saudi Arabia commended Iraq for

implementing almost all its pledged oil-production cuts, while Nigeria has told the kingdom that it was committed to hitting its target.

Nigeria and Iraq had come under fire from Saudi Arabia

for over-production.

OPEC, in its Monthly Oil Market Report for July 2020, said the estimated sharp rebound in demand for next year would surpass levels seen before the COVID-19

pandemic, as rival producers struggle to revive output.

According to the report, while the increase is partly driven by a recovery in global oil demand as economic growth resumes, an even

bigger factor is the misfortune of OPEC’s competitors.

The OPEC report said after slumping 7.4 per cent this year, the United States will Continued on page 9

CBN: FG’s Revenue Dropped to N845.14bn in February... Page 8 Wednesday 15 July, 2020 Vol 25. No 9228. Price: N250

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Analysts: Will UK Court Allow Apparent Attempt to Defraud Nigeria of $9.6bn?

Judgment reserved as briefcase company cites desperation Emmanuel Addeh in Abuja After a two - day virtual court hearing, a judge of the High Court of the United Kingdom, Sir Ross Cranston, has reserved judgement telling lawyers that he would take time to study their submissions and give a ruling at a later date on the request by the Nigerian government to set aside the enforcement of a $9.6 billion arbitration awarded against it in favour of Process and

Industrial Developments (P&ID) Limited, a briefcase company registered in British Virgin Island.

However, the material question at the end of it all, according to analysts, is whether the UK judiciary will allow itself to be an accessory to a grand fraud by a shell company owned by Irish nationals who did noting, invested nothing, employed Continued on page 9

Security Agents Mount Surveillance on EFCC HQ, Offices Panel grills top anti-graft officials again as Magu’s interrogation enters seventh day Omololu Ogunmade and Kingsley Nwezeh in Abuja As part of ongoing investigation into the activities of suspended Acting Chairman of the Economic and Financial Crimes Commission (EFCC),

Mr. Ibrahim Magu, the federal government has directed intelligence agencies to mount surveillance on the headquarters of the antigraft agency and its offices Continued on page 9

SUSTAINING THE FIGHT AGAINST GRAFT… Vice President Yemi Osinbajo, SAN delivers the keynote address at the 20th Anniversary of Africa Regional Webinar of the Independent Corrupt Practices and Other Related Offences Commission in Abuja…yesterday

Virtual Court Sitting Not Unconstitutional, Supreme Court Rules... Page 5

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NEWS Virtual Court Sitting Not Unconstitutional, Supreme Court Rules

Group News Editor Ejiofor Alike

Email Ejiofor.Alike@thisdaylive.com, 08066066268

Dismisses Alaibe's suit against Diri’s nomination Alex Enumah in Abuja The Supreme Court yesterday held that there was nothing at the moment that makes virtual proceedings and sitting by courts in the country null, void and unconstitutional.

The apex court also dismissed a suit by a former Peoples Democratic Party (PDP) governorship aspirant in Bayelsa State, Mr. Timi Alaibe, challenging the emergence of Governor Douye Diri as the candidate of the PDP in the November 2019 governorship election in the state.

A seven-man panel of the apex court led by Justice Bode Rhodes-Vivour held that it was premature for Lagos and Ekiti States to file suits to seek their interpretation of the constitution to determine whether or not virtual court proceedings and sitting are constitutional.

The court directed judges nationwide to continue to conduct virtual proceedings, where comfortable for them, until the National Assembly concludes its ongoing efforts to amend the constitution to accommodate virtual hearing.

It said, for now, it was premature to challenge the constitutionality or otherwise of virtual court proceedings because the National Assembly was still in the process of amending the constitution or enact a law to that effect.

The two suits were filed by the Lagos and Ekiti State governments, praying the

Supreme Court to determine whether having regard to Section 36(1), (3) and (4) of the 1999 Constitution (as amended), the use of technology by remote hearings of any kind, whether

by Zoom, Microsoft Teams, WhatsApp, Skype or any other audiovisual or video-conference platform by the Lagos State High Court or any other courts in Nigeria in aid of hearing and determination of cases is constitutional.

While addressing the court, Attorney-General of Lagos State, Mr. Moyosore Onigbanjo (SAN), whose case was called first, argued that the case by his state was to prevent a situation where, after virtual sittings are conducted, they would be declared unconstitutional as in the case of a former Abia State Governor, Senator Orji Uzor Kalu.

Kalu, who is now Senate deputy chief whip was serving a 12-year jail term before the Supreme Court quashed his trial and subsequent conviction on the ground that Justice Mohammed Idris of the Federal High Court, sitting in Lagos, which convicted and sentenced Kalu and Ude Udeogu, who was the director of finance and accounts at the Abia State Government House during Kalu’s tenure, was already a justice of the Court of Appeal as at the time he delivered the judgment sentencing the appellants.

The Attorney-General of Ekiti State, Mr. Olawale Fapohunda (SAN), whose case was later called, said the suit by his

state was to put certainty to the current uncertainty about the constitutionality or otherwise of the virtual court sitting.

Fapohunda said judges in his state were reluctant to sit and conduct virtual proceedings because they were afraid that their decisions and proceedings could be declared unconstitutional on appeal.

But Justice Rhodes-Vivour advised the two states to patiently await the bill on the amendment to the constitution still pending at the National Assembly on the issue.

He said it was after the National Assembly had passed the bill seeking to include virtual sitting in the constitution that anybody could challenge the constitutionality or otherwise of such an enactment.

He said: “Just let us wait for the National Assembly whether what they will come up with goes against the practice direction issued by chief judges of the states and the National Judicial Council (NJC) on virtual sitting.

“As at now, virtual sitting is not unconstitutional; Honourable Attorney-General (referring to Onigbanjo), go and tell your chief judge to ask the judges to continue to sit virtually if it

is convenient for them.”

Another member of the panel, Justice Dattijo Mohammed, said there was no cause of action yet because no one had claimed that his right had been breached.

“Somebody’s right must be breached by what the National Assembly is able to come up with before you can come to court,” Justice Mohammed said.

Justice Amina Augie, another member of the panel, said: “It is a fundamental law; we do not act on speculation. What you are doing now is speculative.”

Justice Olukayode Ariwoola said: “Why don’t you wait for the National Assembly to come up with what they are doing, then you can come and challenge it if you are not comfortable?

“You have a choice either to ask that your matter be adjourned sine die until after the National Assembly passes its law or you withdraw your case.”

Corroborating the submissions of his learned brothers, Justice Ejembi Eko, said the suits were premature and speculative.

He said by virtue of the provision of Section 168(1) of the Evidence Act, the practice directions by courts' heads on virtual proceedings enjoy the presumption of regularity until

they are set aside.

“We cannot say, at this stage, whether or not virtual sitting is constitutional,” Justice Eko said.

In view of the position expressed by the justices, to the effect that the suits are premature and that the directive on virtual court proceedings enjoys the presumption of regularity, Onigbanjo and Fapohunda withdrew their cases.

Consequently, the seven-man panel unanimously struck out the suits.

Apex Court Dismisses Alaibe's Suit against Diri’s Nomination The apex court also dismissed a suit by Alaibe challenging the emergence of Diri as PDP candidate in the November 2019 governorship election in Bayelsa State.

The suit was dismissed by Justice Bode Rhodes-Vivour, following its dramatic withdrawal by the appellant.

Before the withdrawal, the Supreme Court’s five-man panel led by Justice Rhodes-Vivour, had questioned the competence of the appeal, saying that it was a pre-primary election issue, which

is an internal affair of the PDP. The apex court justices drew the attention of lawyer to the appellant, Mr. Ifedayo Adedipe (SAN), to the effect that the grouse of the appellant centered on the process that produced delegates for the primary and not the primary itself.

Quoting part of the processes filed by Alaibe, the panel held that he never claimed to have won the primary and as such his matter was a pre-primary issue that the court cannot delve into.

However, spirited efforts by Alaibe's lawyer to convince the apex court that the issues related to the primary were rejected by the court, which insisted that it can only adjudicate on a primary by a contestant that participated in the poll and not in an internal affair of any political party.

At this point, Adedipe, who claimed to have understood and appreciated the hint of the court, announced the withdrawal of the appeal and was subsequently dismissed.

Reacting to the judgment, the state Deputy Governor, Senator Lawrence Erhujakpor, described the verdict as a triumph of democracy, adding that the judiciary remains the last hope of the common man.

2023 Politicking Fuelling Attacks on Osinbajo, Says Aide Adedayo Akinwale in Abuja The Senior Special Assistant to Vice President Yemi Osinbajo on Media and Publicity, Mr. Laolu Akande, has said that his principal has become a target of people who have political objectives in 2023, coupled with the position he holds as the deputy to President Muhammadu Buhari.

He said his boss was not thinking about any 2023 ambition but remained focus on supporting Buhari in delivering the goals of his government.

Akande spoke on Monday night during an Instagram Live Chat with Dele Momodu of Ovation Magazine.

He said the vice president would not be distracted by ‘false’ reports and ‘lies’ circulating in the media of late.

According to him, people with obnoxious agenda are trying to smear the person of the vice president with ridiculous stories.

Osinbajo had denied the latest allegations that he collected N4 billion from the suspended acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, and asked the Inspector General of Police, Mr. Mohammed Adamu, to probe the United States-based publisher of the online medium that made the allegations.

His accusers also claimed that his daughter, Kiki, owned property on Durban Street, Wuse 2, Abuja, which they said was worth N800 million. But Kiki

dismissed the claim as false while Ayuba Musa, the landlord of the property housing her GLAM’D Africa also dismissed the claim as untrue.

Reacting to these allegations, Akande said: “It is ridiculous and incredible, some of the types of stories that are out there. What I have found out is that being the vice president and is a very active vice president that understands how to connect with the people, that rising profile itself, in a political atmosphere that is extremely murky, I think those who have all kinds of unscrupulous ideas, people with despicable agenda have reasons to try to smear the person that is holding that office.

“Like I said, because of the position that he holds, next to the president and because of all the kinds of imaginations that people have to think about him, I think, up to a point, he has become a kind of a political target.”

When asked whether the socalled attacks were to frustrate any ambition the vice president has in 2023, the aide said: “Personally, I don’t have a doubt in my mind that there are people who have political objectives who might consider him (Osinbajo) a threat.

But what I like to tell Nigerians is, I’m his spokesperson and all I know he wants to do is to do this job that he has been given very well and he doesn’t have any other plans right now about any such thing. I can tell you that clearly.

STILL ON FEDERAL CHARACTER… Speaker, House of Representatives, Hon. Femi Gbajabiamila (left), and the Chairman, Federal Character Commission, Dr. Muheeba Dankaka, during a courtesy visit to the speaker by the commission’s delegation in Abuja…yesterday

Senate Passes Bill Prescribing Life Jail for Kidnappers Deji Elumoye in Abuja The Senate yesterday passed the Criminal Code Amendment Bill, which increased the penalty for kidnapping from 10 years to life imprisonment in the 16 southern states of the federation.

The bill contains amendments to the Criminal Code, which is currently in operation in the southern part of Nigeria.

The bill sponsored by Chairman of the Senate Committee on Communications, Senator Oluremi Tinubu, also maintained gender neutrality for sexual and rape cases as well as seeking protection for mentally retarded persons.

The bill's passage was a sequel to the presentation of

the report on a "Bill for an Act to amend the Criminal Code Act Cap C38 Laws of the Federation of Nigeria 2004 to delete the statute of limitation on defilement, increase punishment for the offence of kidnapping, remove gender restrictions in the offence of rape and for related matters," by Chairman of the Senate Committee on Judiciary, Human Rights and Legal Matters, Senator Opeyemi Bamidele.

The provisions of the bill include amendments to Section 364(2) of the principal Act by substituting the words "is guilty of a felony and is liable to imprisonment for ten years" with the words "is guilty of a felony and is liable to imprisonment

for life".

Section 357 of the principal Act, also specifically substitutes the words ‘woman or girl, without her consent, or with her consent’, with the words, ‘any person, without consent, or with consent.

The bill also seeks to protect mentally challenged persons from sexual defilement and rape through an amendment to Section 221 of the principal Act, which substitutes the words "an idiot or imbecile" with the words "mentally challenged".

On gender equality on rape and sexual cases, the bill amended line 1 of section 357 of the principal Act by substituting the words "woman or girl without her consent or with

her consent", with the words "any person without consent or with consent".

The Senate stated that its amendment of the bill was in tandem with section 315 of the Constitution of the Federal Republic of Nigeria (as amended which states that the National Assembly has the legislative competence to amend the criminal code Act by its virtue of being an existing law.

An attempt by Senator Uche Ekwunife to effect an amendment to Section 357 to define persons susceptible to rape to accommodate “married and unmarried persons” was rejected by lawmakers during the clause-by-clause consideration of the bill.

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CBN: FG’s Revenue Dropped to N845.14bn in February Obinna Chima Nigeria’s federally-collected revenue fell by 11.3 per cent to N845.14 billion in February, compared with the N952.49 billion recorded the previous month, the Central Bank of Nigeria (CBN) has said.

The CBN, in its monthly economic report for February that was posted on its website yesterday, noted that at N845.14 billion, the estimated federally-collected revenue (gross) in February also fell below the monthly budget estimate of N1.246 trillion by 32.2 per cent.

The underperformance relative to the monthly budget estimate was attributed to shortfalls in both oil and non-oil revenues.

A breakdown of the report showed that oil receipts, at N496.63 billion or 58.8 per cent of total revenue was below the monthly budget estimate of N798.83 billion and the preceding month’s receipt of N556.82 billion, by 37.8 per cent and 10.8 per cent,

respectively.

The decrease in oil revenue, relative to the monthly budget estimate, was also attributed to shut-ins and shut-downs at some Nigerian National Petroleum Corporation (NNPC) terminals due to pipeline leakages and maintenance activities.

On the other hand, at N348.52 billion or 41.2 per cent of total revenue, non-oil receipt was also below the monthly budget estimate of N447.24 billion and the receipt of N395.67 billion in the preceding month by 22.1 per cent and 11.9 per cent, respectively.

The drop in collection, relative to the monthly budget estimate, was due to the decline in revenue from corporate tax, VAT and the federal government independent revenue, the report stated.

“Of the net sum of N682.67 billion retained in the Federation Account, the sums of N97.43 billion, N35.00 billion, and N42.22 billion were

transferred to the VAT Pool Account, Federal Government Independent revenue, and ‘Others’, respectively; leaving a net balance of N508.03 billion for distribution to the three tiers of government and 13 per cent derivation fund.

“Of this amount, the federal government received N243.36 billion, while the state and local governments received N123.43 billion and N95.16 billion, respectively. The balance of N46.07 billion was shared among the oilproducing states as 13 per cent derivation fund.

“From the N97.43 billion transferred to the VAT Pool Account, the federal government received N14.61 billion, while the states and local governments received N48.71 billion and N34.10 billion, respectively,” it stated.

The report added that the external sector performance declined in the review month, due to the 11.7 per cent decrease in the international price of crude oil to $58.45 per barrel, at the end-February 2020.

This was attributed, mainly, to the continuous spread of COVID-19.

Consequently, aggregate foreign exchange inflow into the economy amounted to $16.19 billion, indicating a decrease of 4.4 per cent, compared with the level in the preceding month.

The report indicated that aggregate forex outflow from the economy, at $6.84 billion, fell by 1.5 per cent, compared with the level in the preceding month.

It was, however, 26 per cent higher than the level in the

corresponding period of 2019 and the development was attributed mainly to the 1.7 per cent decline in the outflow through the bank.

“Accordingly, foreign exchange flows through the economy, resulted in a net inflow of $9.35 billion in the review period, compared with $9.99 billion and $4.58 billion at end-January 2020 and end-February 2019, respectively.

“At $4.82 billion, aggregate foreign exchange inflow into the CBN fell by 8.6 per cent and 7.8 per cent, relative to the levels in the preceding month and the corresponding period of 2019, respectively.

The decline in aggregate foreign exchange inflow into the bank, relative to the preceding month’s level, was attributed, largely, to the

fall in both oil and non-oil receipts.

“Aggregate outflow of foreign exchange from CBN fell by 1.7 per cent to $6.56 billion, compared with the level at end-January 2020. It was, however, 22.4 per cent higher than the level in the corresponding period of 2019.

“The decrease, relative to the preceding month’s level was attributed, mainly, to 32.6 per cent fall in other official payments/public/ direct payments. Overall, foreign exchange flows, through the bank at endFebruary 2020, resulted in a higher net outflow of $1.74 billion, compared with a net outflow of $1.40 billion and $0.13 billion in the preceding month and the corresponding period of 2019, respectively,” it added.

WTO: House Backs Okonjo-Iweala, Urges Buhari to Step up Mobilisation Udora Orizu in Abuja The House of Representatives yesterday endorsed the candidature of former Minister of Finance, Dr. Ngozi OkonjoIweala, for the position of the Director-General of the World Trade Organisation (WTO).

The lawmakers urged President Muhammadu Buhari to continue to rally other African leaders to support her bid and asked the Pan African Parliament to follow suit.

The House also commended the Economic Community of West African States (ECOWAS) Authority of Heads of State and Governments for endorsing Okonjo-Iweala's candidacy.

It called on the federal government to interface with the governments of Egypt and Kenya to step down their candidates in the spirit of African oneness and reciprocity.

These resolutions followed the adoption of a motion of urgent public importance sponsored by the House Minority Leader, Hon. Ndudi Elumelu.

Moving the motion, Elumelu noted that the chairman of the General Council of WTO has announced the commencement of the process to replace the outgoing Director-General, Roberto Azevedo, with the opening date for nomination set at June 8, 2020, and closing date for July 8, 2020.

He said the House was aware that a distinguished Nigerian, two-term Minister of Finance, one-time Minister of Foreign Affairs and former Managing Director of the World Bank, Dr. Ngozi Okonjo-

Iweala, had been formally nominated by Nigeria to vie for the exalted position of the director-general of the WTO for the period of 2021-2025 and if successful will be the first female and the first African to have occupied the office.

He said it was the perfect time for Africa to assume leadership of the WTO and all concerned stakeholders must unanimously commit to achieving this. ''Aside Dr. Ngozi OkonjoIweala, Africa has two other candidates from Egypt and Kenya and entering the race with three candidates from Africa will split Africa's votes, which cripples the prospect of an African assuming the WTO position. Therefore, we must urgently reach out to the governments of Egypt and Kenya on the need to rally round a single candidate for the continent in the person of Dr. Okonjo-Iweala.

"In the past, Nigeria has staunchly supported the candidatures of other Africans to leadership position at multilaterals, including the candidacy of the late Boutros Boutros Ghali, an Egyptian national, to become the Secretary-General of the United Nations. A good turn deserves another and we must now unite the African continent and ensure cooperation amongst our countries to put the continent first,'' he said.

The lawmaker added that having a Nigerian as the Director-General of the WTO will further enhance the image of the country amongst the comity of nations, hence the need to massively support Okonjo-Iweala.

GETTING SET FOR BATTLE...

L-R: Former Edo State governor, Prof. Oserheimen Osunbor; Minister of State for Petroleum, Chief Timipre Sylva; and Senator Biobarakuma Degieremienyo, after a meeting of All Progressives Congress chieftains on the forthcoming Edo State governorship election in Abuja yesterday enock reuben

Sanwo-Olu Urges Striking Lagos Doctors to Resume Work Segun James Lagos State Governor, Mr. Babajide Sanwo-Olu, has urged medical doctors in the state who have embarked on strike to resume work, promising to sort out their grievances during negotiation.

The governor who said that the state government has been magnanimous to medical workers disclosed that besides regularly paying the salaries of the over 20,000 health workers in the state government's payroll, the government also increased their hazard allowance by 400 per cent in view of the COVID-19 pandemic.

In addition, he disclosed that the over 1,000 workers directly battling the COVID-19 pandemic were also given special incentives outside their salary and hazard allowances.

Speaking at the Infectious Disease Hospital, Yaba where he commemorated the 2020 Tree planting day and inaugurated a 36-chamber Morgue donated by IHS

Towers to the state government at the centre, the governor said the issues that led to the doctor’s strike were being looked into.

According to him, the major issue at stake was the yet-to-be paid May and June additional COVID-19 allowance which has now been paid, adding that the allowance was his initiative "because we wanted to show leadership at the outbreak of the pandemic."

“The first thing they said is that, we owe some workers hazard allowances. For the benefit of the public, our government is the first, in March, that started paying hazard allowance to our entire health workers, almost 20,000 of them. We increased the hazard allowance by 400 per cent and this is verifiable.

Lagos is the first to do this.

All the entire health workers - doctors, nurse, drivers, hygienists – got a 400 per cent on hazard allowance as enumerated in their payment structure.

“Above that, we realised we needed to give additional incentive to frontline workers specifically engaged in the fight against COVID-19 pandemic. This is called COVID-19 allowance, which is outside their regular salaries and hazard allowances. The COVID-19 allowance is for over 1,000 medical officers and other auxiliary workers in all of our isolation centres.

On this additional allowance, I do not need to consult with anybody. It is something I felt it was needed.

“Lagos is the first in the country to create this additional allowance and we are doing it not because we wanted to show off. We realised Lagos is the epicentre of the COVID-19 pandemic and I think we should show leadership and commitment to all our frontline staff. So, we created that allowance and paid it,” he explained.

The governor said he was not upset about the doctors’ strike because it was due to inadequate communication.

He said as a father, he must attend to the needs of all his children, insisting that the strike was opportunistic because of the circumstances of the time.

Other issues that led to the strike such as taxes, residential quarters for doctors, shortage of doctors and dismissal of health workers, the governor said, were being taken care off and the doctors are aware of it.

He said, "it is rather unfortunate that my workers whom I love so dearly would take this very unexpected line to appeal their grievances. It is rather unfair and unfortunate that any of us especially them at this time would want to take an opportunistic approach because of the pandemic crisis we are going through, I think it is rather unfortunate and I think it is utterly condemnable”.

Earlier, Sanwo-Olu had dedicated this year’s Tree Planting Day to all the health workers on the frontline of state’s response to the COVID-19 pandemic.

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PAGE NINE ANALYSTS: WILL UK COURT ALLOW APPARENT ATTEMPT TO DEFRAUD NIGERIA OF $9.6BN? no one, but took advantage of Nigeria's weak governance, colluding with Nigerian officials to take control of over a third of Nigeria's external reserves, and multiples of the nation's yearly budget for healthcare, education and social services at a time of COVID-19.

Legal analysts, who spoke to THISDAY last night, also wondered if the judge would rule against Nigeria given UK's firm anti-corruption stance.

The federal government had yesterday continued to marshal evidence before the UK court, to justify its request to set aside the enforcement of decision of Justice Christopher Butcher, a judge of a commercial court in London, to allow P&ID enforce the arbitration award in the United Kingdom.

Nigeria and P&ID have been locked in the legal battle over the disagreement arising from a botched Gas Supply Purchasing Agreement (GSPA) between the country and the firm, under which P&ID was to build gas processing facilities in Cross River State, and the government was to supply wet gas up to 400 million standard cubic feet per day that will be processed to generate electricity.

At the resumed virtual

hearing of the case yesterday, lawyer to the Nigerian government, Mr. Mark Howard, told the court that with the emerging facts before the country, it should not be shut out of seeking further redress, saying the company knew that the contract was a sham.

The 2010 gas-supply contract, Howard told the judge, could not be validated by the law since the company kept Nigeria in the dark while it succeeded in bribing senior officials into colluding with it to rip off the country.

However, Cranston, after the over nine-hour session, told the lawyers on both sides that he would take time to study their submissions and give a ruling at a later time.

“I have had enough for me to digest. I will now retire to write my judgment down ultimately,” he said, before closing the court session, which commenced on Monday.

The judge will in his expected pronouncement decide whether any misconduct took place during the entire dealings with the P&ID and whether there is a justification to allow a full hearing on appeal.

Howard continued in his line of argument which he started on Monday that officials of

government and other persons were 'procured' by the company to scam the country through the purported contract.

He told the court that the huge sums paid to Vera Taiga, the daughter of a former Director in the Legal Department of Nigeria’s petroleum ministry at the time, Mrs. Grace Taiga, when her entire annual salary was only $5,000, were suspicious.

The federal government sought to convince the UK court that P&ID agreed to negotiate after the initial judgment because it knew that the award was unjustifiable.

“P&ID decided to negotiate because they knew that they had no other options. It's not a situation that you know that there was a fraud, Nigeria was shooting in the dark because P&ID kept them in the dark,” Howard said.

He added that while Nigeria was continuing to find loopholes in the entire process, initially “nobody had an incline that there was a rotten apple, which has made it face the award, thereby putting the government at the receiving end.”

He added that the issue of reasonable diligence cannot arise in a clear case where a

party had a hidden agenda, as argued by the P&ID lawyers that it was up to Nigeria to have done due diligence.

He argued: “The court cannot allow these fraudsters to get away. What does reasonable diligence mean as a matter of English law? What P&ID is saying is that you can commit serious fraud and allow them time to run.

“It is likely that the fraud is beyond what we are looking at. A fraudster cannot say one failed to express reasonable diligence in this case. P&ID are fraudsters. At the time, P&ID gave Taiga those monies; she was earning $5,000 a year.

“If a fraudster can get away without consideration of a case, that exactly is a fraudster's charter and it is nonsensical. P&ID is trying to put procedures against the substance. My lord, there is an overwhelming case of fraud.”

He told the court that there was no satisfactory answer to the issues of perjury and bribery levelled against the company, adding that it will be against justice if Nigeria is permanently shut out.

Howard contended: “If we establish a case of fraud, it will be extraordinary if the court shuts us out.

“P&ID had prejudice against the Nigerian people with that fraudulent $10 billion award.

When things are hidden from you as in this case, definitely there is a case of fraud. So, we have a prima facie case because the government has found itself at the receiving end of that award.

“The interest of justice must be served. We ask your lordship for extension of time and relief from sanctions and a short address to determine the direction.”

Earlier, the company's lawyer had argued that the decision by the Nigerian government to make a case of fraud against P&ID was an afterthought.

He said documents from the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, indicated that of all the options open to the federal government, approaching the courts to indicate that it was a fraudulent arrangement against the people of Nigeria was not one.

The company told the court that the Nigerian government knew there was no case of fraud against it, the reason it chose the option to negotiate with it after Vice President Yemi Osinbajo, who was then acting president in the absence of

President Muhammadu Buhari, endorsed the option.

According to the P&ID lawyer, it was after negotiations failed that Nigeria, out of desperation, decided to set the Economic and Financial Crimes Commission (EFCC) against certain individuals who participated in the deal.

It said it took the EFCC about 14 months and after its officials were eventually harangued by Malami that they started the probe because they knew all along that there was nothing to investigate.

The company said the argument that the deal was fraudulent was not based on any evidence, noting that there was no detail in Nigeria’s submission.

He told the court: “Nigeria asked for a sensible settlement.

That was a deliberate decision because they knew everything they needed to know about the case. They knew what they needed to know and chose to pursue settlement.

“Clearly, there was no reason to delay investigation for two to three years. They opted for settlement and it was after it failed that the Nigerian government started investigating. Clearly, it was tactical.”

in late April, to current levels of about $42 a barrel in London.

Last month, the cartel slashed output by a further 1.89 million barrels a day to 22.27 million barrels a day, as Saudi Arabia followed through on promises of extra cutbacks and other members stepped up their compliance with pledged reductions.

Meanwhile, signs that disputes among OPEC and its allies over cheating of quotas are being resolved have emerged as Saudi Arabia commended Iraq for

implementing almost all its pledged oil-production cuts, while Nigeria has told the kingdom it was committed to implementing 100 per cent compliance.

Saudi Energy Minister, Prince Abdulaziz bin Salman, spoke to his Iraqi counterpart, Ihsan Abdul Jabbar, according to a joint statement from their offices on Monday.

The prince said he was satisfied with Baghdad’s improved compliance in June.

Salman also had a phone call with Nigeria’s Minister of State for Petroleum, Mr. Timipre Sylva.

The Saudi minister stressed the importance of all countries

adhering to their commitments to cut oil output, while Sylva said Nigeria would compensate until September for producing more than its quota allowed in May and June, according to a separate statement.

Iraq, Nigeria and other nations such as Angola came under fire from Saudi Arabia and Russia, the effective leaders of the OPEC+ alliance, for over-production.

OPEC and its allies agreed in April to cut supply by almost 10 million barrels a day to prop up prices in the face of the coronavirus pandemic.

OPEC+ will hold a video conference today to review the deal.

earlier sent to the president accused Magu and his men of perpetrating a range of atrocities including extortion, sale of recovered assets without following due process and failing to remit the proceeds of such sales to the federation account.

Magu was ambushed on the road in Wuse II, Abuja on Monday, July 6, by security operatives and dragged before the presidential panel which had been sitting three weeks earlier with their activities shrouded in secrecy.

He was subsequently detained at the Force Criminal Investigation Department (FCID) from where he is daily brought before the panel to defend the allegations.

His house was also searched last week and some sensitive documents recovered.

The suspended acting chairman, has, however, filed a bail application before the Nigeria Police through one of his lawyers.

He was formally suspended on Friday, July 10 by President Muhammadu Buhari and has been appearing before the panel every day except for last Saturday and Sunday.

Today will mark the eighth day of his appearance before the panel.

In the meantime, the presidency last night assured Nigerians that Buhari would

not be deterred by what he described as baseless criticisms by the opposition in his efforts to combat corruption.

Reacting to a range of aspersions cast on the administration's anti-corruption war by the opposition Peoples Democratic Party (PDP) since the beginning of Magu's interrogation, Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, said the volume of anti-corruption crusade being championed by the government is a reflection of what the PDP left behind.

According to him, corruption became a tradition when the PDP was in power to the extent that the then ruling party had difficulties "in defining what is 'corruption' and 'theft.''

Shehu argued that Buhari’s determination to end corruption in the country was the reason for several highly publicised charges and cases in courts.

“A large number of cases, new and old, may appear to be daunting but PDP, which is now heckling the president, has forgotten that the party bequeathed this to the current administration. They had a large number of cases they did not investigate and prosecute,” he said.

He advised the PDP to allow the process of investigation and prosecution to proceed

smoothly, instead of preemptying ongoing cases and unduly inciting members of the public.

Shehu, who expressed hope that the judiciary would swiftly and satisfactorily handle ongoing cases, to deter future occurrences, added that "the current administration is handling many of the cases that the PDP should have dealt with and the new ones as they arise."

OPEC FORECASTS 25% RISE IN OIL DEMAND IN 2021 see only limited production growth in 2021.

However, OPEC and its allies are cutting production to clear the glut left behind by the COVID-19 crisis and prop up prices. The cartel said it implemented more than 100 per cent of the cutbacks pledged in June.

The OPEC+ alliance, which includes non-members such as Russia, is expected to announce at a meeting today that it will phase out some of the curbs from next month.

Under the terms of its agreement, the cuts taper from the current 9.6 million barrels a day, roughly 10 per cent of global supply, to 7.7

million a day in August.

However, in its first detailed assessment of the market in 2021, OPEC said world oil demand would rebound by seven million barrels a day, or 7.7 per cent, next year to average 97.72 million a day.

However, that is still below the levels seen last year or in 2018, and the growth hinges on the containment of the pandemic and a recovery in the hospitality and travel sectors.

The organisation lifted estimates for demand in 2020 very slightly, by 100,000 barrels a day, projecting that consumption remains on track for a record annual slump of

8.95 million barrels a day.

For the improvement in the group’s fortunes next year, a more important driver is the suffering of its rivals.

The report stated that non-OPEC supply was set to plunge by 3.26 million barrels a day in 2020, and will rise by only 920,000 barrels a day the following year.

It could represent a period of breathing space for an organisation that saw its market share eroded for much of the last decade by American shale drillers.

The oil cartel said it was committed to supply restraint, which has helped prices more than double from the lows hit

Oil Tensions Ease as S’Arabia Speaks to Iraq, Nigeria

SECURITY AGENTS MOUNT SURVEILLANCE ON EFCC HQ, OFFICES nationwide.

THISDAY also gathered that senior investigators of the agency close to Magu, known as "Magu Boys," are being treated as "persons of interest," whose movements have been restricted.

Some of the affected operatives are said to have appeared before the panel while others await their turn.

More of those officials yesterday appeared before the Justice Ayo Salami-led presidential panel investigating the 21-point allegation of corruption and insubordination levelled against Magu by the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami.

Magu has been in police custody since Monday last week.

THISDAY’s investigation revealed that Magu's office was searched after the code that opens the office, which is only known to Magu and one other official was extracted from him.

Intelligence operatives were also said to have been deployed in the headquarters of the commission to monitor movements of persons in and out of the commission, notably directors and investigators and others who worked on cases under Magu.

Magu's stand-in, Mr. Umar Mohammed, has been briefed

about the development while the "persons of interest" log in and log out daily under supervision.

As the investigation widened, other offices of the commission across the country were placed under intelligence surveillance as applicable to the headquarters.

Security and intelligence sources confirmed that major targets of investigation under Magu and other associates have been placed under watch.

Physical assets and others forfeited to the EFCC are under guard.

"This is a very important investigation and we are leaving nothing to chance.

All necessary measures are in place," a security source said.

THISDAY gathered that phone lines of staff of the commission are being monitored and this situation has led to phones not being answered or conversations cut short by staff.

Movements of files at the offices are also under strict supervision and surveillance, it was learnt.

The Force Criminal Investigation Department (FCID) sealed the office of the suspended EFCC chair and recovered bulletproof vehicles from his Abuja and Maiduguri residences. The vehicles are now parked at the Force Headquarters in

Abuja.

The 10th floor where Magu's office is located had, since last week, been placed under watch.

Officials and visitors to the commission are thoroughly searched with scanners, while vehicles moving in and out of the commission are subject to the same process.

Panel Grills Top Anti-graft Officials Again as Magu’s Interrogation Enters Seventh Day Meanwhile, the probe of Magu continued in Abuja yesterday, as four top management staff of the commission who had been interrogated last week were further grilled by the presidential panel in Abuja.

The EFCC's top shots, who are also heads of different units of the commission had first appeared before the panel last Thursday but were asked to re-appear within the next seven days following perceived inability of the men to provide satisfactory answers to the questions they were asked.

The men were also instructed to return for further interrogation with files of cases they had handled since 2015 including assets' register and records of cash releases they had made.

Malami had in a letter he

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NEWSXTRA

774,000 Jobs: Keyamo Gets Buhari’s Nod to Commence Recruitment Onyebuchi Ezigbo in Abuja The Minister of State for Labour, Mr. Festus Keyamo (SAN), has

secured the approval of President Muhammadu Buhari to begin the recruitment of 774, 000 youths under the Special Public Works

Nigeria’s COVID-19 Cases Rise By 463 to 33,616 Martins Ifijeh Nigeria has recorded 463 new cases of COVID-19, bringing to 33,616 the number of confirmed cases in the country.

Announcing this yesterday, the Nigeria Centre for Disease Control (NCDC) said Lagos recorded 128 new cases; Kwara, 92; Enugu, 39; Delta, 33; Edo, 29; Plateau, 28;

Programme.

A source at the ministry confirmed to THISDAY that Keyamo had received a go-ahead from the president to proceed with the execution of the programme, despite the objection by the National Assembly.

The lawmakers had accused the minister of trying to hijack

the scheme from the National Directorate of Employment (NDE), the implementing agency of the project.

However, Keyamo insisted that it was the lawmakers that wanted to hijack the programme and vowed to resist the move.

The minister, who appeared before members of the National

Assembly Joint Committee on Labour on June 30, accused them of seeking to control the implementation of the programme.

The meeting ended in a fiasco when the minister insisted that the parley should be held in the open to the consternation of the lawmakers who demanded a

closed-door meeting.

Keyamo consequently left in annoyance vowing not to suspend the recruitment as directed by the lawmakers.

He argued that the lawmakers had no power to give directives to the executive under section 88 of the 1999 constitution.

Kaduna, 23; Oyo, 15; Ogun and Osun, 14 each; Federal Capital Territory (FCT), 12; Ondo and Rivers, nine each; Abia, nine; Bayelsa, five; Ekiti, three; and Borno two.

It said: “Nigeria has recorded 33,616 confirmed cases of COVID-19. 13,792 patients have been discharged while 754 persons have died.”

Pandemic Slashes FG Revenues By over 40%, Says Osinbajo Dike Onwuamaeze The Vice President, Prof. Yemi Osinbajo has said that the COVID-19 pandemic slashed Nigeria’s oil revenue by over 40 per cent, following the nationwide lockdown.

Osinbajo also declared that the expansion of job opportunities and stimulating the economy in order to ameliorate the difficulties brought about by the COVID-19 pandemic disease are the major goals of Nigeria’s fiscal and monetary policies.

Osinbajo made this declaration yesterday during a webinar conference with the theme “Focus on Nigeria: Africa Unrivalled Economic Power House,” which was hosted by the Commonwealth Enterprise and Investment Council (CEIC) in conjunction with the Novare Equity Partners.

The conference, according to the CEIC, dwelt on the current

responses to COVID-19.

Osinbajo, who spoke on “Sustainable Economic Growth: A Plan for Nigeria,” said: “In addition to using fiscal and monetary measures to stimulate the economy, our main objectives are to retain and create jobs and to assist vulnerable people, to support businesses and undertake infrastructural investments. And I want to say that jobs and retaining jobs, creating more opportunities tops Nigeria’s government priorities”.

He said the country’s huge informal economy also crashed during the period.

He said things were already looking up for Nigeria until the pandemic started.

He said, “There is never a good time for a pandemic but there can be a terribly wrong time.

“That’s how it seemed three months ago as COVID-19 began to ravage.

NAF Mourns Arotile, Nigeria’s First Female Combat Helicopter Pilot Chiemelie Ezeobi The Nigerian Air Force (NAF) has announced the death of Flying Officer Tolulope Arotile, the first ever female combat helicopter pilot in Nigeria, who passed on at the age of 23.

Arotile died yesterday as a result of head injuries sustained from a road accident at NAF Base in Kaduna.

Her death came barely a year after she was winged as a combat

Arotile

helicopter pilot in NAF, following the completion of her course in South Africa.

Confirming the accident, NAF Director of Public Relations and Information, Air Commodore Ibikunle Daramola said until her death, Arotile, who was commissioned into the NAF in September 2017 as a member of Nigerian Defence Academy (NDA) Regular Course 64, was the first ever female combat helicopter pilot in the service.

He said: “During her short but impactful stay in the service, the late Arotile, who hails from Iffe in Ijumu Local Government Area of Kogi State, contributed significantly to the efforts to rid the North Central states of armed bandits and other criminal elements by flying several combat missions under Operation GAMA AIKI in Minna, Niger State.

“The Chief of the Air Staff, Air Marshal Sadique Abubakar, on behalf officers, airmen, airwomen and civilian staff of the NAF, commiserates with the family of the late Flying Officer Arotile over this irreparable loss. We pray that the Almighty God grants her soul eternal rest.”

SET TO MEET REHABILITATION TARGET...

L-R: Enugu State Commissioner for Information, Mr. Chidi Aroh; Secretary to the State Government, Prof. Simon Ortuanya; Chairman, South East Governors’ Forum Airport Rehabilitation/Palliative Works Committee, Mr. Chris Okoye; Minister of Aviation, Senator Hadi Sirika; Chairman, Enugu Capital Territory Development Authority, Dr. Josef Umunnakwe Onoh; and Managing Director of Federal Airports Authority of Nigeria (FAAN), Capt. Hamisu Rabiu Yadudu, during their inspection of the ongoing rehabilitation of Akanu Ibiam International Airport, Enugu...yesterday

House Urges Buhari to Reopen Schools WASSCE cancellation may fuel criminality, says Afe Babalola Victor Ogunje in Ado Ekiti The House of Representatives has called on President Muhammadu Buhari to order a partial reopening of schools to allow pupils sit for the 2020 West African Senior Secondary School Certificate Examination (WASSCE).

This is coming as a legal luminary and the founder of Afe Babalola University, Chief Afe Babalola (SAN), said yesterday that the cancellation of the 2020 WASSCE by the Nigerian authorities was capable of breeding frustration and promoting criminality among the 1.5 million students

who registered for it.

The House made the call at the plenary yesterday following a unanimous adoption of a motion moved by a member, Hon. Nnolim Nnaji.

The Committee on Basic Education and Services had earlier on Friday faulted the decision by the federal government to suspend the plan to partially reopen schools for pupils in final classes to take external examinations.

The committee had particularly criticised the decision to disallow Nigerian pupils from sitting for WASSCE to be conducted by the

West African Examination Council for the 2019/2020 academic session.

Meanwhile, legal luminary and the founder of Afe Babalola University, Babalola, said yesterday that the cancellation of the 2020 WASSCE by the Nigerian authorities was capable of breeding frustration and promoting criminality among the 1.5 million who registered for it.

Babalola advised that rather than canceling the examination, the federal government should let it hold in the various school halls in addition to fashioning ways to ensure compliance with COVID-19 protocols.

The ABUAD founder, who spoke in a statement entitled, ‘Nigeria’s nonparticipation in the 2020 WASCE: Irreparable damage,’ argued that “a year of idleness for 1.5million people may breed frustration and promote criminality”.

He said, “If the federal government insists that there would be no WASSCE this year, the students are not just losing one calendar year, but losing an integral part of their entire lives which is gone forever by such declaration. We should always remember that after all, ‘time is life and life is time.

Seven Police Officers Killed, 11 Injured in Kaduna Auto Crash Kingsley Nwezeh in Abuja Seven police officers attached to the Special Forces Unit of the Nigeria Police were killed yesterday in a road mishap on their way to Katsina State.

Eleven others, who received varying degrees of injury are receiving medical attention.

A Police Force Headquarters statement signed by Force PRO

and Deputy Commissioner of Police (DCP), Frank Mba, said the incident, which involved an 18-seater Toyota Hummer Bus conveying 18 personnel of the unit, occurred at Jaji town along Kaduna-Zaria Road.

The deceased were part of an additional deployment made recently by the force to boost the ongoing fight against bandits in Katsina State.

The IG, who described the incident as a huge loss to the force, noted that the incident was one of the unfortunate sacrifices officers often encounter in the line of duty. He described the deceased as “heroes of peace”.

“A team of police medical personnel has been dispatched to Kaduna State where eleven 11 officers that survived the accident are receiving medical attention.

“Three of the deceased officers have been buried according to Islamic rites while the remains of the other four officers have been deposited in a morgue,” it said.

Meanwhile, the IG has directed the Police Accounts and Budget Department to ensure the immediate payment of the burial expenses, benefits and other entitlements to the families of the deceased officers.

130m People to Face Hunger By End of 2020, Says UN The United Nations in its latest ‘State of Food Security and Nutrition in the World’ report has revealed that 130 million will face hunger and starvation by the end of 2020.

The report estimates that no fewer than 687.8 million people suffered hunger in 2019, up by 10 million from 2018, and by nearly 60 million in five years.

According to the study, high costs and low affordability also

mean that billions cannot afford healthy or nutritious meals.

It warns that the COVID-19 pandemic could push 130 million more people into chronic hunger by the end of 2020.

Asia remains home to the highest number of undernourished with 381 million people affected, followed by Africa with 250 million, according to the study.

It added that Latin America and the Caribbean is third with

48 million people.

It noted that although prevalence of undernourishment has changed slightly at 8.9 per cent, the absolute numbers have been rising since 2014.

This means that over the last five years, hunger has grown in step with the global population.

In a video message, UN Secretary-General, Mr. Antonio Guterres said the report had sent a “sobering message”.

“In much of the world, hunger remains deeply entrenched and is rising.

“Countries continue to grapple with malnutrition in all its forms, including the growing burden of obesity. The COVID-19 pandemic is making things even worse,” Guterres said.

He said the world should take action to prevent many more people from slipping into hunger as predicted

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MIDWEEKPOLITICS

Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

Twelve Years After: Remembering Melford Okilo, The Country Man Amby Uneze recalls the life and times of the first civilian governor of the old Rivers State, Senator Melford Okilo

I

t is exactly twelve years since Senator Melford Okilo passed on. Okilo who was the first elected Civilian Governor of the old Rivers State died on 5th July, 2008 after a protracted illness.

As family, friends and political associates of Chief Okilo mark twelve years of his exit from this world, it is imperative to once again remember the unique attributes, achievements and uncommon legacies of the man who even in death, is still acknowledged as one of the greatest leaders and political figures that ever emerged from the Niger Delta. Apart from Okilo, Chief Harold Dappa Biriye, Prof. Eyo Ita, Dr Egbert Udo Udoma, Okoi Arikpo, Ken Saro Wiwa and Isaac Adaka Boro were also great sons of the Niger Delta whose lives remain inseparable from the history of their People.

Melford Obiene Okilo was born on 30th November, 1933 in the serene riverine community of Emakalakala in Ogbia Kingdom in present day Bayelsa State. His home town, Emakalakala is less than two kilometers away from Location 001, Nigeria’s first commercial oil well. His life, indeed, was a history of the triumph of the human spirit over adversities and challenges.

Okilo was born to peasant parents. He rose from grass to grace and left indelible marks in Teaching, Philosophy, Law, business, Civil Service, Religion and the politics of Nigeria.

Commenting on Chief Okilo’s background and the challenges he encountered on his journey to the top, Nigeria’s former President and Okilo’s, kinsman, Dr. Goodluck Jonathan states: “His story strikes a particularly strong cord with me. Aside from coming from the same background as Chief Okilo, his sojourn from the back waters of the Niger Delta, through countless personal challenges, political travails and triumphs, right up to the national stage, mirrors my own story from a ‘shoe less childhood’ to the highest office in the Land”.

The story of the life and times of Okilo is one that should interest the present and future generations of Nigerians, particularly the youth who are challenged by unemployment and lack of opportunities for growth in the system. A child who once dropped out of school due to the inability of his parents to pay his school fees, later rose to become an accomplished Teacher, Lawyer, businessman, Clergy, Councilor, Member, Federal House of Representatives, Minister, Governor and Senator.

After completing his primary school education at St. Michael Primary School, Oloibiri and professional qualification as a teacher at St Paul Teacher Training College, Diobu, Port Harcourt, Okilo taught in some primary schools in the riverine areas and in May, 1956 joined the Eastern Nigeria Judiciary as a Court Clerk and Interpreter. The period he spent as a teacher in village schools and Court interpreter in the Niger Delta enabled him experience the squalor, poverty, neglect and environmental degradation confronting the Niger Delta people.

What Okilo witnessed in the Niger Delta, spurred him to dedicate his life to the service of his people and humanity In 1956, Shell struck oil at Oloibiri in Bayelsa State. Okilo was then a court interpreter. He saw how the people were dispossessed of their Land without adequate compensation. This pathetic situation moved Okilo to mobilize the people to establish The Oloibiri Land owners Association which became a platform for agitating for better compensation for those whose Land was acquired for oil exploitation.

Okilo’s struggles in this regard at Oloibiri and its environs endeared him to the riverine people and made them see him as a leader to trust, a patronage he enjoyed throughout his political career.

As Nigeria approached independence from Britain in 1960, there were apprehensions

Okilo

as to whether the Country would survive as one united and indivisible Nation. The amalgamation of the Northern and Southern Protectorates into one country by Lord Lugard in 1914, brought together over two hundred and fifty ethnic groups with mutually antagonistic interests into one Country. The divisions were deep and the fears were real.

Okilo emerged as one of the politicians that worked assiduously to hold Nigeria together despite the differences among her people.

For the Niger Delta people and their kit and kin on the mainland of what is today Rivers, Bayelsa and parts of Delta State, they demanded a Federal Territory–Niger Delta Special Area, to be autonomous and responsible only to the Federal Government in Lagos. A request that was not granted by the British Government. This led to the formation of the Niger Delta Congress (NDC) led by the great nationalist and statesman, Chief Harold Dappa Biriye. Though he was given the ticket to contest election into the Brass Federal Constituency, Okilo had no funds to execute his campaign. He had to sell his Raleigh Bicycle for thirteen Pounds to raise funds. He contested on the platform of NDC and won. The NDC was the opposition Party in the Eastern Region which was then controlled by Dr. Nnamdi Azikiwe’s National Council for Nigerian Citizens (NCNC).

In the Pre – independence National Election of 1959, the three major political parties were regarded as regional in character. Although the NPC won majority of the seats in parliament, the party was regarded as a regional party that could not muster the national spread to justify being called upon to form Federal Government by the British. But being in alliance with the NCNC and the Niger Delta Congress (NDC) which won a single seat from the extreme South, the British Government was satisfied that the NPC had reflected the geopolitical spread and national character to form the Federal Government. It has been suggested that if not for the singular seat won by Melford Obiene Okilo in the Niger Delta which brought the NDC, NPC and NCNC together, the British would not have handed over power.

Following the alliance between the NPC and NCNC, Alhaji Tafawa Balewa of the NPC became the Prime Minister while Dr. Azikiwe became the President. The young

Okilo emerged as Parliamentary Secretary to Balewa and later Junior Minister of External Affairs where he worked under late Dr. Jaja Nwachukwu who was the Senior Minister of External Affairs and member of the NCNC. As a junior Minister, he participated in establishing Nigeria High Commission offices in major countries across the globe, providing statutory and administrative framework for the establishment of the Organization of African Unity (OAU) and infused venom into the Liberation Movements in Africa.

In the Parliament, Okilo played the role of a bridge- builder between the North and the South. He brought the problems of the Niger Delta to the floor of the Parliament and succeeded in making Prime Minister Balewa to set up a Committee on the Niger Delta.

The Committee which was headed by Alhaji Shehu Shagari, recommended the creation of a Ministry of Niger Delta Affairs and the Niger Delta Development Board (NDDB). Shagari was later appointed Minister of Niger Delta affairs Ministry with mandate to develop the infrastructure of the Niger Delta. For five years, he was the lone voice in parliament advocating for the creation of Rivers State.

Okilo continued his struggles for the Niger Delta people until he went into self-exile in America as a result of the violence and chaos that characterized the politics of the first Republic. He completed his Law programme in America and went ahead to obtain a degree in Theology. When he returned from exile, he joined the efforts to keep Nigeria united despite the damage done to national unity by the 1966 military coup and the Civil war which lasted between 1967 and 1970. The creation of Rivers State out of the old Eastern Region by the Gowon regime was one of the aspirations of Okilo in parliament and other Niger Delta activists. He served as cabinet commissioner in the military administration of Commander A.P Diete Spiff in the old Rivers State.

In 1977, Okilo was elected a member of the Constituent Assembly which was set up by the Obasanjo regime to fashion out a new Constitution for the Country. Earlier, Okilo had contested election to become a Councilor representing Oloibiri Ward 1 in Brass Local Government Area in present day Bayelsa State. This was after he had served as a Member of the House of Representatives,

Junior Minister and Parliamentary Secretary.

He was returned unopposed as Councilor.

At the Constituent Assembly, he met late Dr. Chuba Okadigbo and Alhaji Shehu Shagari with whom he founded the National Movement that later metamorphosed into the National Party of Nigeria (NPN). Also, at the Constituent Assembly were: Mallam Maman Ali Makele, Alhaji Uba Ahmed, Chief Meredith Adisa Akinloye who later became the National Chairman of NPN, Late Chief Richard Akinjide (SAN) among others. They all became key actors in the politics of the Second Republic.

At the return of civil rule in 1979, Okilo contested election on the Platform of the NPN to become the Governor of old Rivers State which included the present day Bayelsa State.

He won and became the first elected Civilian Governor of old Rivers State. As Governor, he transformed Rivers State by executing projects that brought development and created enormous opportunities for the people of the State. He transformed the Healthcare system, education and built infrastructure for even development. It is on record that Okilo was the first Governor in Nigeria to establish a University of Technology and an Independent Power Plant (IPP). Till date, most of the projects executed by the Okilo Government are still seen all over Rivers and Bayelsa States. He also mobilized his colleagues in the oil producing states to place the issue of principle of derivation on the front burner of national discourse and explored statutory and legal means to ensure that the principle of derivation was entrenched in the revenue allocation formula of the nation.

Speaking on Okilo’s struggles that led to the restoration of the derivation principles as one of the criteria for revenue allocation, Second Republic Senate President, Dr. Joseph Wayas said : “Okilo was instrumental to the passage of the new revenue bill of 1981 that restored derivation. He should be appreciated for his commitment to justice, unity and oneness of Nigeria as one indivisible entity.” When the military terminated the second Republic, Okilo was detained for three years for no just cause. He was later cleared and given a clean bill.

In 1993, Gen. Sani Abacha appointed Okilo Minister of Commerce and Tourism where he explored other alternatives to oil as a foreign exchange earner for the Country. He promoted the growth of Export Processing zones in order to stimulate and boost nonoil exports in Nigeria. As an active member of the administration, he used his political contacts and personal relationship with the Head of State to influence the creation of Bayelsa State, the only homogenous Izon state in the Federation.

In 1999, Chief Okilo was elected into the Senate. He contributed to the efforts that made the passage of the Niger Delta Development Commission (NDDC) Bill possible. This led to the establishment of the NDDC and the Ministry of Niger Delta Affairs which are today carrying out massive development projects in the Niger Delta.

Not done with political accomplishments at the State and National level, Okilo aspired to become president and Vice President of Nigeria on different platforms including the National Republican Convention (NRC), Nigeria Solidarity Movement (NSM) and Movement for Democracy and Justice (MDJ).

Throughout life, Chief Okilo demonstrated uncommon Commitment to the Niger Delta people and the survival of Nigeria as one indivisible and united Country. He shunned wealth and ostentation for the good of the ordinary people. He was a good family man and benefactor to a lot of under-privileged people.

History will forever remember Melford Okilo as a sstatesman, nationalist, bridge-builder, Philosopher and administrator.

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COMMENT

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

MAGU, EFCC, APC AND CORRUPTION

Sonnie Ekwowusi argues that the APC-controlled government is riddled with corruption

T

he startling allegation that Ibrahim Magu has corruptly been re-looting the country’s recovered looted funds and property is, to say the least, the troubling. How can a supposed catcher of thieves become the thief himself? This corroborates Federic Bastiat’s thesis that an irresponsible government is an engine of fraud. According to the French political economist and philosopher, devoid of character, politics and activities of government are nothing but legalized plunders. The All Progressives Congress Party (APC) seized power with the mantra of fighting corruption. But instead of fighting corruption the APC is now, by definition, corruption personified. The APC came to power on the pretext that it was out to cleanse the Augean stables, that is, to rid the country of the corruption of the Peoples’ Democratic Party (PDP). But no sooner had Mr. Muhammadu Buhari stepped into power as President than it became clear to all and sundry that he was unprepared for power. He was simply overwhelmed by the jobs that awaited him as President. He soon developed cold feet. He started wobbling. First, it took him almost six months to form his cabinet.

From that time till date Mr. President and the APC have not managed to find their rhythm. In order to make up for its huge governance deficit, the APC started passing the buck: it started blaming the PDP for APC’s failure to gather steam and excel in governance. From the blame game the ruling party later sunk so low to be christened “you-chop-I-chop party�, a name depicting the party as all-comers political party reveling in all manner of corruption.

The last five years of APC’s stronghold on power has been a celebration of corruption. Buhari has no certificate; Oshiomhole has no certificate; Hope Uzodinma, who emerged fourth in the last Imo Gubernatorial election is declared winner of the election and imposed as Imo State Governor; Buhari’s daughter uses presidential jet to run her personal errands; former secretary to the federal government Babachir Lawal is enmeshed in N233 million grass-cutting fraud; Fulani herdsmen freely go about murdering innocent citizens and seizing their farmlands yet they are not arrested or prosecuted let alone declared a terrorist group. Miyetti Allah issues a statement accepting responsibility for the massacre of about 200 villagers in Riyom, Barkin Ladi and Jos South local government areas of Plateau State yet Miyetti Allah is not prosecuted let alone proscribed as a terrorist organization. Daughter of Zion and conscience of the nation Leah Sharibu is denied freedom for refusing to convert to Islam; Chief Justice does not know the meaning of “legal technicality�; some N3.2 billion is squandered on the pretext of supplying medicals in Aso Rock Clinic; Aso Rock Presidential Villa is desecrated: President Buhari converts it into a personal fiefdom for settling family disputes; President Buhari spends incalculable amount of money on medical tourism despite his pre-election promise that he would abolish medical tourism; former Chief Justice Onnoghen is removed with a forged ex-parte order and replaced with a pliable Justice Mohammed Tanko; Asiwaju Bola Tinubu carries money in a bullion vehicle; The SSS is dispatched to raid the houses of some Supreme Court Justices (in fact, those justices have now have been discharged and acquitted for want of evidence) in violation of sections 153, 158(1), 160 , 161 and 292(1) of the 1999 Constitution; the fight

WE ARE ALL EARS AS THE MAGU CRISIS UNFOLDS. IT WOULD BE INTERESTING TO HEAR MAGU’S DEFENCE. DID HE LAUNDER RELOOTED FUNDS?

against Boko Haram is compromised. Every parish or branch of any Christian church in Nigeria is now required to pay N30, 000 marriage tax. What is most frightening is that political appointments, political patronage, Presidential infrastructural and capital project initiatives, road network projects, rail line projects and others are, in violation of the Federal Character principle enshrined in our 1999 Constitution, skewed in favour of the North. On top of all these, Nigeria’s most important institutions and sectors such as the judiciary, education, health, banking, communication, trade and industry, employment sector, INEC, the Army, the Police, Customs, Immigration and others are in a shambles. Not to mention the insecurity of lives and property.

Certainly the above is not a chronicle of the corruption that have destroyed the Buhari government. In due time (maybe when President Buhari quits power) piles of books would be written chronicling the political corruption-bribery, cronyism, kleptocracy, nepotism, prebendalism, influence peddling, electoral fraud, Simony- that had bedeviled the most populous and adventurous African country under the Buhari government. We now have political office holders who are not ashamed to commit all sorts of unspeakable atrocities even in public. Not infrequently, political party stalwarts standing trial in high profile anti-graft cases bribe their way out of prosecution in court.

Under Magu’s EFCC, fabricated charges are preferred against suspects in order to extort money from them. Uncountable charges preferred against some suspects are later dramatically dropped by the same EFCC without genuine reasons. Criminal suspects are seen handcuffed, docked, paraded on TV or paraded on the pages of the newspaper.

The surprising thing is that despite exposing Magu he shows no remorse. He insists he deserves bail. He threatens hunger strike. He appears unrepentant. Why? Probably he believes that he should not been punished alone. So for all you know Magu is not being exposed because the APC cares a hoot about fighting corruption but because he is on collision with some APC powerbrokers. We are all ears as the Magu crisis unfolds. It would be interesting to hear Magu’s defence. Did he launder re-looted funds? Who were his accomplices?

Meanwhile Vice-President Yemi Osinbajo SAN has clearly distanced himself from the N4 billion allegedly given to him by Magu. As Acting President of Nigeria in 2017 when President Buhari was on medical tourism, Osinbajo told those who were against Magu: â€œâ€Ś those thinking that corruption is winning this war, Magu would remain their nightmare for the next two years or six years as the case may beâ€?.

With these words, he showed that he and Buhari were clearly in support of Magu’s candidature for the EFCC topmost job. Of course with the heavy accusation dangling around Magus’ neck at the moment neither President Buhari nor Osinbajo would stick out their necks today to stand behind Magu. Magu is now alone as the Justice Salami Probe Panel investigates him. Some say Magu would not be prosecuted if some APC bigwigs are fingered in the investigation.

Let’s wait and see.

A VOTE FOR FIDELITY

Ă˜Ă‹Ă—ĂŽĂ“ Ă•Ă™Ă˜Ă•ĂĄĂ™ËŞĂ? Ă“ĂŽĂ?ÖÓÞã Ă‹Ă˜Ă• Ă?Ă˜ĂžĂœĂ?Ă˜Ă?Ă’Ă?Ă? ÞÒĂ? Ă?Ă&#x;Ă–ĂžĂ&#x;ĂœĂ? Ă™Ă? ĂšĂœĂ&#x;ĂŽĂ?Ă˜Ăž Ă?Ă“Ă?Ă?Ă‹Ă– Ă—Ă‹Ă˜Ă‹Ă‘Ă?Ă—Ă?Ă˜ĂžËœ ĂĄĂœĂ“ĂžĂ?Ă? Jackson Ugbechie

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igeria is not in short supply of innovators and reformers. They abound in all sectors. In the banking sector, Nnamdi Okonkwo, is one of them. As the chief executive officer of Fidelity Bank, Okonkwo, a multi-discipline banker, has demonstrated a rare know-how of what modern banking should be.

He has broken all growth forecasts, driving his bank from a marginal financial institution into the national mainstream banking hall of fame, and one of the most-preferred banks on the continent.

It’s a record that astounds, a performance chart that got even the heavyweights in the industry fretting. This is why some analysts say they are not surprised at the recent campaign of calumny to smear both Okonkwo and the Fidelity Bank brand.

A prominent case was the failed attempt to link the bank with the alleged sleazy deals in the nation’s oil and gas industry in the days of Deziani AlisonMadueke, former Minister of Petroleum resources.

But the matter has been rested and both Okonkwo and the bank cleared of any wrongdoing by relevant authorities.

Despite the clean bill and wide-berth clearance received by the bank and its leadership, the tribe of mudslingers seems not to have beaten a retreat.

They appear bent on casting as much slur as their fetish shovel could scoop on a man they cannot fault his stellar credentials and sterling performance, and a bank they can no longer ignore. But that’s largely the price you pay for success.

Okonkwo has since 2014 when he emerged the managing director of the bank shown a rare trait in modern leadership: leading from behind. His style of leadership is unobtrusive: unseen, unheard yet he fills the ambience with his presence. Self-effacing and diffident, he has chosen to walk the path of

meekness in a sector ingloriously noted for the outlandish flamboyance of its leaders. One of the pitfalls of modern banking in Nigeria is the riotous ostentation of some bank gaffers. Whereas a banker, the one who holds public funds in trust, ought to be conservative, frugal, even austere; some bank chiefs have turned the page, preferring to live a life of wanton waste at the expense of the investing public.

It’s this culture of waste and improvidence that has resulted in a neo-fiscal disorder called ‘failed bank’ syndrome. A bank that is truly a bank ought not to fail. With good corporate governance, adherence to basic creeds and compliance with regulatory rules, in this case the Central Bank of Nigeria (CBN), no Nigerian bank should fail. But many have. From People’s Bank of Nigeria, a masses-centric bank created by the military essentially to cater for the poor masses, to some other banks that kept a façade of good financial standing, the nation has witnessed a whirlwind of failed banks, prompting the CBN to make interventions in most cases. Sadly, some still doubled down to extinction and in some cases had to be acquired by stronger banks to save jobs and save depositors’ funds.

Not so with Fidelity Bank. Okonkwo’s fiscal discipline, adherence to corporate governance and entrenchment of a culture of prudent fiscal management has ensured that Fidelity Bank keeps soaring at a time its predecessors are riddled with holes in their balance sheet. A few statistics would confirm the steady rise of a once-upon-a-time marginal bank to a strong national and continental financial institution.

Since January 1, 2014 when he became the CEO, the bank has grown its savings deposit account base from N75 billion to the present N226 billion. If this does not excite, what about the fact that it recorded gross earnings of N215.5 billion for the financial

year ended December 31, 2019, an increase of 14 per cent of the N189 billion achieved in the previous year. This also cascaded to profit before tax of N30.4 billion, compared with N25.1 billion recorded in the previous year, a jump by 21 per cent.

The facts truly speak for themselves. Fidelity Bank is wafting through the banking landscape like a hurricane. In a recent survey carried out by Political Economist Business Intelligence Unit, Fidelity Bank was adjudged the Most Admired Bank among business owners especially small and medium scale entrepreneurs in Nigeria.

The survey which was conducted in parts of Lagos, Ibadan, Kano, Aba, Onitsha, Port Harcourt, Uyo and Kaduna among traders and business owners showed that Fidelity Bank was voted the friendliest bank among the respondents. The survey was conducted via questionnaire administered strictly to business owners in selected market clusters spread in Nigeria’s busiest cities.

So, how did Okonkwo and his team achieve this? Digital inclusion! Technology has become the oxygen of modern businesses. The Fidelity team has latched on this to optimise efficiency through the digitisation of its operations.

The impact of digitisation on the bank has been most profound such that 81.5 per cent of the bank’s transactions is now done through digital channels.

This has far exceeded industry projections and has placed Fidelity Bank ahead of many banks. In modern parlance, it’s either you innovate through technology and see your business thrive or you stick to the old analogue order and watch your business die. Okonkwo has since realised this and has made a choice. He disclosed as much in a recent media chat. “We are driving our retail banking with digitisation. About 81.5 per cent of our transactions are now

done through digital channels. That is why you will see us building just one or two new branches in a year. “In the past, we used to do like 15 to 20 branches.

I can’t remember the last time I went to inaugurate a new branch or even wrote a cheque. Digitisation has made things more efficient. We have also taken into cognisance customers that may not have data to do their transactions. “So, we introduced our USSD *770#, which does not require you to have a smartphone or data to carry out some banking transactions. This category of customers does not need Android phones to operate their accounts, just basic phones. “This has made our cost-to-income ratio to improve significantly. Ultimately, our cost-to-income ratio is likely to drop by about 50 per cent by 2022 and digitisation will play a key role in achieving this. “Having said this, Information Technology comes with a lot of risks. Any bank that does not pay attention to cyber risks is living dangerously and I doubt if any bank will even try that. “Statistics have also shown us that even in some of the areas of the north with security challenges, we have a very high adoption of electronic banking because people are sending and receiving money using their phones. What is a challenge actually leads to innovation and opportunity.�

Indeed, necessity is the mother of invention.

The necessity of the moment has brought out the creative energy and inventive spirit in Okonkwo and it’s rubbing off on the bank which he intends to migrate to a Tier-1 bank in three years from now.

Given his pedigree, this is not just a desire, it’s a destination.

Ugbechie, a socio-economic analyst, wrote from Abuja

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T H I S D AY ˾ WEDNESDAY, JULY 15, 2020

EDITORIAL THE AKK GAS PIPELINE PROJECT It is a good initiative, but there are many questions to answer

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n a virtual ceremony, President Muhammadu Buhari recently approved the commencement of work on the AKK gas line, a 614-long Ajaokuta-Kaduna-Kano (AKK) pipeline being developed by the Nigerian National Petroleum Corporation (NNPC). Expected to cost about $2.8 billion, the president has described the project as a utilitarian infrastructure; one that will provide gas for generation of electricity as well as for industries within its route.

In addition, the president noted that the project will revive moribund industries along transit towns in Kogi, the Federal Capital Territory - Abuja, Niger, Kaduna and Kano States.

If implemented properly, this project will enhance the social wellbeing of our people, further economic growth, and guarantee the provision of basic services and facilities for businesses to develop and thrive.

We therefore welcome the president’s drive on the AKK gas line. However, there are concerns. The not-so-edifying history of our country with petroleum pipelines, the seeming scarcity of ARE THERE UPCOMING gas for use by power GAS PRODUCTION plants and industries CONCERNS TO SUPPORT THE NEW PIPELINE OR IS in the south, as well THE AKK JUST BEING BUILT as the equitable market fundamentals WITHOUT FIRM PLAN ON for gas supply in the ITS SUPPLY SOURCES? north are some of the reservations many have expressed on this project which deserve compelling clarifications.

According to the NNPC, the AKK project on completion would enable the injection of up to 2.2 billion standard cubic feet of gas per day into the domestic market. It will also facilitate additional power generation capacity of 3,600 megawatts (MW).

As potentially beneficial as this pipeline may be, the NNPC needs to clarify from where exactly the huge volume of gas to be fed into it will come. The current volume in the corporation’s books is from existing

production facilities and provinces, thus raising the question: are there upcoming gas production concerns to support the new pipeline and demands or is the AKK just being built without firm plan or conclusion on its supply sources?

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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

e are also aware that up to Kogi State, which is where the AKK would take off, gas power plants and gas-based industries there are still challenged with gas supply scarcity. This also needs to be clarified. There are two gas power plants of about 430 megawatts each - Geregu one and two - which are mostly under-producing because gas supply to them are either insufficient or not of the right quality. Besides, some Niger Delta militants have argued that there is nothing in the name of the project that indicates where the gas to be piped is coming from since neither Ajaokuta, Kaduna nor Kano produces gas.

Meanwhile, there are several other questions that are still hanging about this project. Will it tie the government to subsidising gas supplies up north, at what cost to the federation and for how long in the future?

If Ajaokuta which is about 350 kilometres from the Niger Delta cannot get sufficient gas, how would gas get to Kano which is farther and at what cost? Should the country encourage the transportation of gas that is more than 700 kilometres away from source to the market and through what means, or should it transport finished products over this distance to the market? If it decides to take gas from the Niger Delta all the way to Kano, and add up the capital expenditure to the production cost of industries in Kano, what will be the unit cost of these finished products there?

We must emphasise that while Nigeria has comparative advantage in gas as a natural resource, it does not have a competitive advantage in gas production and distribution across the country. Given this state of affair, the focus should be on localising gas processing industries. That is the only way we can utilise our abundant gas resources properly for economic development.

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Covid-19 Pandemic And FCT Residents

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esidents of the Federal Capital Territory (FCT) were once again reminded about the existence of the deadly COVID-19 virus with the recent revelation that the FCT Secretary of Health and Human Services Secretariat, Dr Mohammed Kawu was infected with the disease.

Dr Kawu is among the list of other prominent Nigerians who have been infected with the Corona Virus in the nation’s capital, including the likes of the late former Chief of Staff to the President, Abba Kyari as well as the ex PPMC boss, Suleiman Achimugu – the latter two sadly lost their lives.

Dr Kawu’s case was confirmed a few days ago when he tested positive, following which he was admitted to the Intensive Care Unit (ICU) of the Asokoro District Hospital where he has been treated and discharged.

According to NCDC data on Corona Virus, about 2400 FCT residents have so far been confirmed to have been infected with corona virus, out of the more than 21,000 tests that have been carried out. There have also been over 700 recoveries while a further 35 persons have succumbed to the disease.

During one of his recent media briefings, the FCT Minister, Malam Muhammad Musa Bello had also disclosed that the virus has now reached the stage of community transmission, accounting for the rising wave of new infections in the FCT. All efforts in the FCT had been geared towards preventing this situation, including the lockdown measures.

It was believed at some point that the FCT had succeeded in flattening the curve of the spread of the disease as the number of new

infections remained relatively low and stable during the lockdown.

But with the relaxing of the lockdown measures, there has however been a sudden increase in the number of new infections, driving fears that the worst may not have been seen yet of COVID-19 in the FCT. However, despite the deaths of prominent Nigerians and other residents as well as the confirmation of more than 2300 cases of the COVID-19 infections in the FCT, many residents are still unsure of what to make of the existence of the virus in the FCT. It was against this backdrop that that the FCT Administration agreed to conduct journalists covering its activities on a tour of the COVID-19 Isolation and treatment centres in the FCT to see the situation of things.

Some of the centres toured include the elegant 5- storey complex at the Idu Train Station, the Asokoro District Hospital, the Karu General Hospital, among others.

At the Idu train station isolation and treatment centre, the official in charge, Dr Kassim Tanko Zakari disclosed that the situation is such that residents are now thronging the centre on their own for treatment.

He said this was contrary to what was obtained a few months back when patients were brought to the centre on ambulances for admission and some of them against their wishes.

According to Dr Zakari, about 360 patients have been admitted at the centre, since its commissioning on the 11th of May 2020, out of which 210 have been treated and discharged after testing negative.

There are however some 121 others still on admission and receiving treatment at the Idu treatment and isolation centre according to him.

Some of the residents on admission at the centre have also given varying accounts of how the virus had affected them, maintaining that they had all suffered prolonged feeling of being unwell which did not improve after several courses of self-medication.

Those spoken to agreed in unison that corona virus is real and are calling on FCT residents to take personal responsibilities in order to prevent the spread of the virus.

The Special Assistant on Media to the FCT Minister, Abubakar Sani, while also making a public address shortly after the tour, said it should be clear to all skeptics, from the foregoing, that corona virus is real in the FCT. Sani noted that the fact that people are not being seen within the neighborhood infected by this disease does not mean it is not happening.

He however disclosed that the government is expanding its testing capacity and in order to ensure that everybody gets tested, adding that residents should expect to see health officials coming to them to test them for this disease as testing goes deep into the communities.

According to the SA Media to the FCT Minister, “My personal message for FCT residents is to please take care of yourselves; follow the laid down basic health protocols. Put on your face mask. Whether you are alone or in a gathering, it is very important because you need to protect yourself and protect your loved ones. Avoid large gatherings.”

Additionally, residents are being urged to always wash their hands with soap and running water or sanitize using the hand sanitizers as well as also maintain social distance.

Danladi Akilu, Durumi II District, Abuja

T H I S D AY Ëž ÍŻÍł, 2020

16

FEATURES

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

How Runsewe is Promoting Nigerian Culture Amid a Pandemic Charles Ajunwa writes on how the Director-General National Council for Arts and Culture, Otunba Segun Runsewe, is promoting Nigerian arts and culture amid the deadly COVID-19 pandemic

Owu Waterfalls in Kwara State

Ogbunike Cave in Anambra State

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he COVID-19 pandemic has changed the world. For one, the rules and flows of international travel will most likely never remain the same again as countries gradually relax lockdowns imposed to slow down the virus’ spread.

And, as airline stocks tank and tourism economics sink into historic lows, what will be the new normal?

One trend that might provide an insight into the shape of the future is the rapid adoption of digital communication tools. Services such as Zoom have experienced massive growth amid the pandemic, leading many to conclude that the future of everything - including cultural tourism - will be intertwined with digitalisation.

All around the world, fashion shows - the Paris fashion show, for example - are being staged online. The BET Awards show was also staged online with artistes hooking up from different locations. The show must go on.

In Nigeria, the cultural tourism industry, under the guidance of the Segun Runsewe-led National Council for Arts and Culture (NCAC), is also beginning to adjust to the new realities.

With the country still under some form of lockdown and international travel into the country all but disallowed, the industry must find new, innovative ways to keep the engines running. The show must go on.

Part of Runsewe’s answer to the questions posed by the pandemic was revealed on June 27, when NCAC unveiled a Virtual Cultural Tour of Nigeria via a Zoom conference call.

Before the unveiling, Runsewe had been engaging stakeholders in the culture industry virtually, weekly, to brainstorm on how to reposition the sector against the effects of the pandemic. “COVID-19 is like rain falling and it gives us an opportunity to think outside the box and to come up with this virtual cultural tour which serves as a therapy and rain jacket for the pandemic,� Runsewe said at the unveiling.

The Virtual Cultural Tour - which can be accessed via https://www. ncac.gov.ng/cultural-virtual-tour/ - is a 360-degree video rendition of some of the most culturally stimulating spots across Nigeria. From the comfort of your room, it is possible to travel

Runsewe

through the scenic beauty of Yankari Game Reserves and then hop on to the bronze-plated streets of Igun Street in Benin-city before pausing to wonder at the mysterious allure of Ogbunike cave in Anambra. Each site is accompanied by a voice narration that, like a tour guide, provides relevant, well-curated information; the narration heightens the immersive experience offered by the virtual tour platform.

The benefits of the virtual tour are obvious. For one, it is a powerful educational tool; many Nigerians do not know enough about the country’s rich cultural heritage; that information is now one click away and is presented in a stunningly visual format. The virtual tour also makes Nigeria more accessible to foreigners who will, no doubt, be taken by the allure of some of the country’s cultural treasures - that fascination will inevitably lead to the inflow of more tourism dollars.

Another benefit is that of documentation. In the event of disasters such as war or flooding, these sites can undergo gargantuan changes, but since the past has been preserved, albeit in digital

format, future generations can have a frame of reference for how things once were.

NCAC’s forward-thinking owes a lot to the man in charge of its affairs - Runsewe. Born in Kaduna to the family of Pa Bankole Runsewe from Ogun State, Otunba Olusegun Runsewe, with degrees from schools in Nigeria and the United Kingdom, has achieved decades of success in Nigeria’s media, culture and tourism spaces.

In 2000, Runsewe was appointed as an Executive Director at the National Orientation Agency, a position he held until his appointment as the Director-General of the Nigerian Tourism Development Corporation (NTDC) in 2006. During his time at the NTDC, Runsewe worked hard to put Nigeria on the global tourism map. “Tourism is life,� was a slogan he popularised as he showcased the potential of Nigerian tourism to the world at international exhibitions such as FITUR in Madrid, ITB in Berlin, the Arabian Travel Market in Dubai; and the World Travel Market in London.

In 2017, President Muhammadu Buhari,

looking for a solid hand to oversee the development of culture and arts in the country, appointed Runsewe to head the NCAC. It was a prescient move.

NCAC’s vision under Runsewe - to reposition culture as a tool for national unity, peace and social integration as well as a machinery for stimulating rapid socio-economic growth and development - is gradually becoming a reality through several groundbreaking initiatives such as the virtual tour. “I can see everything turning around for culture and tourism in Nigeria very soon and I stand to appreciate Runsewe’s undivided attention and dedication to see the sector blossom profitably,� the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, said in 2019.

Since his emergence as the NCAC chief, Runsewe has organised trips to Dubai for his executives so they can understand the direction in which Nigeria must go. “Everywhere you go in the world, the tourism sector is doing very well,� he once said. “What is wrong with us?

Today, we must find a solution to the problem in Nigeria. Programs like this begin with a vision of one man. And every one of us has a role to play in achieving this vision.�

And Runsewe is adamant that Nigeria has what it takes to become a top tourist centre. “Art is everywhere,� he said at a forum in 2019. “Culture is everywhere, nothing is plastic or artificial.

Everything in the public domain has been created by someone for something.

When we go out for entertainment, films, music, theatre, comedy, history, food — it’s all an art-form created by someone with a passion. Any public space has been carefully designed to be at once functional and beautiful.

Museums and galleries share incredible artworks created by infamous artists.

No matter where you look, there is art and culture in Nigeria that could be marketed. It’s a part of what makes us human – a form of expression.�

The virtual tour is one way, despite the odds posed by the pandemic, through which Runsewe is expressing the country’s uniqueness. According to him, the virtual tour will now be used as a template for the forth-coming National Festival of Arts and Culture (NAFEST) slated to hold in Jos, Plateau State in October this year.

T H I S D AY Ëž ÍŻÍł, 2020

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FEATURES

Mapping a Post COVID-19 Landscape for Tourism, Creative Industries Vanessa Obioha reports on the Close the Gap webinar where stakeholders in the creative and tourism sectors in Africa discussed the way forward for the continent in a post-pandemic era

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n a recent forecast by the African Development Bank (AfDB), it was revealed that countries that depend on oil and tourism for foreign exchange and fiscal revenues will especially face reduced fiscal space and heightened external account imbalances, stoking a build-up of public debt. Nigeria is in that category of countries with high dependence on oil, though tourism is another source of revenue which is yet to be fully explored. But like other Western countries with flourishing tourism are faced with the dilemma of reviving that sector from the biting hardship caused by COVID-19, stakeholders in the creative and tourism sector across Africa are also deliberating on how the continent which attracts a very small percentage of global population to its environs can bounce back and adjust to the needs of a post pandemic era.

These stakeholders recently convened at a virtual event to discuss the way forward for the sectors.

The Close the Gap webinar titled 'Post COVID-19: For African Tourism To Revive, Reboot and Refocus' was held in commemoration of the 50th birthday of renowned journalist and former Commissioner for Tourism, Arts and Culture in Lagos state, Steve Ayorinde. The respected gentleman had in June written an opinion piece in THISDAY where he quoted the lessons from the debilitating effects of the pandemic in African creative sector. "The wheel of the arts must never grind to a complete halt and the need to close the gap of separation and disunity has never been more imperative. Technology, therefore, has become the thread connecting the two positive news arising from the pandemic."

His assertions were reiterated at the webinar where the 10-man panel dissected the various ways the pandemic has affected tourism and creative industries and the need to promote intra-Africa tourism as well as close the gap between African tourism promoters and the creative industry.

Also, with the pandemic exposing the danger human activities pose to the environment, the need to promote ecotourism was emphasised.

James McGregor, a renowned advocate for sustainable tourism who has been living and working in Africa and owns Ecoplannet Sarl company in Morocco, identified the new tourist in a post COVID-19 era and how the tourism industry in Africa can meet his needs.

"The new client is one who has spent four months in confinement and is conscientious, and perhaps Africa is ideally positioned to respond to their needs. So it's a question of reevaluating, reimagining — I put a lot of emphasis on that — and then refocusing what we've been doing in tourism for the past 30 years."

MacGregor argued that the African toursim sector needs to look at what opportunities are available in the COVID-19 crisis and using them to create new tourist destinations. To achieve that, the tourism promoters need to have a reset of mind on where they want to be ethically, civilly and responsiby, while also preparing for the 'next' normal as there are more pandemics to be dealt with.

"We have a new market opportunity, thus, have a new type of client. A client that began confinement in many cases for months and have had time to reflect on the purpose of their life and sometimes realign their priorities

Ayorinde

and that should be showing up in the way that we're going to be developing our tourism."

He pointed out that the new client has quite a list of concerns which includes sanitation, health, disease and vulnerability. He highlighted that there is need to build confidence in the new traveller as most of them have lacked confidence on governments and travel markets' response to the health crisis.

MacGregor also noted how humans have been separated from nature due to the lockdown in most countries.

He however mentioned the various ways the pandemic has been related to climate change and loss of biodiversity.

"So there's a real consciousness now out there in the public about how these diseases and our vulnerability to them are related to the way that we treat our natural world‌ You cannot attract tourists if you don't prove to them ahead of time that you can provide a safe, clean environment. Health and safety have always been important but not to the extent that they are now."

Apart from the honesty that is required, MacGregor insisted that there must be demonstrations on lowering the overall carbon emissions which are responsible for the rapid change in climate. He added that the continent can also look at travel bubbles as another means of reviving the sector.

"So our products have to be healthy and organic, all of which we can offer value based, of course, and environmentally and cultural responsibility.

So, this is all within the framework of what we can do as we reimagine the new product."

Founder Akwaaba Travel Market, Ikechi Uko concentrated on three critical points which he considered necessary for any underdeveloped country to transit to a developed nation.

"Number one, we have to stop doing stupid things, start doing smart things and plan for the future."

Comparing the traffic of people in countries like Thailand and United Arab Emirates to African countries, Uko argued that the African tourism sector need to study the models of these countries and apply them.

"I think we have to look at what some of these small countries have done and put it on steroids and do it better. We have a wonderful opportunity, everybody in the world is at the same position now. Nobody is taller. Nobody is shorter. We have a huge opportunity now to move forward."

He advised that tourism promoters should identify the markets they want to sell to since they can't sell to everybody.

"If Lagos is the entertainment capital of Africa, travel promoters need to find out which destination in Africa wants entertainment the most...So first we have to know what we have and who can buy that market."

While the president of the West Africa Travel Organisation (WATO) Ola Wright underscored the need for policy in the tourism sector, the Director General of the Nigerian Tourism Development Corporation (NTDC) Folorunsho Coker pointed out that we are in trouble globally.

"It's a pandemic that has gone endemic and that means we are going to treat it like malaria, which equally means you have to take precautions like you have been taken for malaria.

For the DG, habits must change for the tourism sector to remain relevant in a post COVID-19 era.

"In every industry, not just in tourism, the corporate governance and the welfare of those involved in the tourism industry must change, and that means the review of laws and policies both in government and private sector institutions. The human capital development in terms of training must improve. We're not selling fancy, beautiful and sweet smelling destinations anymore, we are selling safe, secure and comfortable destinations. That is the priority that everybody has on their mind."

Although he acknowledged that infrastructure development is standstill because of the pandemic, he however stated that the crisis has given the industry an opportunity to package what they have and collaborate to make it better. He also touched on the need to promote domestic tourism.

"It is only on a solid foundation of

domestic tourism that we can ever hope to even build a regional or pan African tourism strategy," adding that "Financing is going to be very difficult as we're in the middle of a pandemic expecting a recession that is going to be deeper than something we have ever seen."

However, he is optimistic that Nigeria has a chance of revivifying the tourism sector since destinations that will be more marketable are those with lowest COVID-19 mortalities of which Nigeria's record is not as high. He also advised on leveraging on the digital space to market their products.

The Regional Head West Africa for South Africa Tourism Thekiso Rakolojane, echoed same sentiments, stating that the pandemic came at a very challenging time for the southern African country. However, he disclosed that "arts and culture as a driver to tourism between West Africans and South Africa was one of the key levers that we have identified and definitely going to leverage on."

He also talked about how the South African government is responding to visa delays.

"Prior to COVID-19, we already started implementing interventions that addressed it. For example in Nigeria, previously we used to only have two resources that will facilitate the visa applications out of Nigeria to South Africa. And just to give an indication, we had plus or minus 200 daily applications of visas out of Lagos alone to South Africa, and you have two people facilitating that. It goes without saying that you will not be able to achieve them. The government responded to that by adding an extra four resources: two in Lagos and two in Abuja. So in total we were looking at about eight resources that are now facilitating those applications."

Still on using creative content to drive tourism, Belinda Nwosu, a consultant at W Hospitality Group proposed that Africans need to have a mind reset and start telling their stories.

"We need to believe more in ourselves and what we have in order to share with others. Tourism cannot happen if we are not confident or look for validation outside of ourselves."

To achieve this, she called for a collaboration between the creative and tourism industries to create infrastructure such as Africa brand hotels; create experiences like having a Chinua Achebe's museum; and promoting partnerships for the greater good of the continent.

Munya Chatnesa, the A&R Manager for Sony ATV Music Publishing South Africa in his presentation agreed with Nwosu on the need to promote creative tourism as music and tourism work hand-in-hand. He also elaborated on the importance of education of artistes in understanding the business of music.

Using the All Africa Music Awards (AFRIMA) as a case study, the founder Mike Dada reiterated that music, film, arts even photography are veritable tools to drive traffic to any destination.

A recurring statement made by the panelists is that the crisis has provided opportunities for the creative and tourism industry to grow,and with the commitment of the Africa Union Commission as reiterated by the Head of Culture Angela Martins; and Nigerian government as announced by the Minister of Information and Culture, the landscape of the creative and tourism sectors in a post COVID-19 era will be dotted with better opportunities.

T H I S D AY ˾ WEDNESDAY JULY 15, 2020

18

MIDWEEKPOLITICS

Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

Twelve Years After: Remembering Melford Okilo, The Country Man Amby Uneze recalls the life and times of the first civilian governor of the old Rivers State, Senator Melford Okilo

I

t is exactly twelve years since Senator Melford Okilo passed on. Okilo who was the first elected Civilian Governor of the old Rivers State died on 5th July, 2008 after a protracted illness.

As family, friends and political associates of Chief Okilo mark twelve years of his exit from this world, it is imperative to once again remember the unique attributes, achievements and uncommon legacies of the man who even in death, is still acknowledged as one of the greatest leaders and political figures that ever emerged from the Niger Delta. Apart from Okilo, Chief Harold Dappa Biriye, Prof. Eyo Ita, Dr Egbert Udo Udoma, Okoi Arikpo, Ken Saro Wiwa and Isaac Adaka Boro were also great sons of the Niger Delta whose lives remain inseparable from the history of their People.

Melford Obiene Okilo was born on 30th November, 1933 in the serene riverine community of Emakalakala in Ogbia Kingdom in present day Bayelsa State. His home town, Emakalakala is less than two kilometers away from Location 001, Nigeria’s first commercial oil well. His life, indeed, was a history of the triumph of the human spirit over adversities and challenges.

Okilo was born to peasant parents. He rose from grass to grace and left indelible marks in Teaching, Philosophy, Law, business, Civil Service, Religion and the politics of Nigeria.

Commenting on Chief Okilo’s background and the challenges he encountered on his journey to the top, Nigeria’s former President and Okilo’s, kinsman, Dr. Goodluck Jonathan states: “His story strikes a particularly strong cord with me. Aside from coming from the same background as Chief Okilo, his sojourn from the back waters of the Niger Delta, through countless personal challenges, political travails and triumphs, right up to the national stage, mirrors my own story from a ‘shoe less childhood’ to the highest office in the Land”.

The story of the life and times of Okilo is one that should interest the present and future generations of Nigerians, particularly the youth who are challenged by unemployment and lack of opportunities for growth in the system. A child who once dropped out of school due to the inability of his parents to pay his school fees, later rose to become an accomplished Teacher, Lawyer, businessman, Clergy, Councilor, Member, Federal House of Representatives, Minister, Governor and Senator.

After completing his primary school education at St. Michael Primary School, Oloibiri and professional qualification as a teacher at St Paul Teacher Training College, Diobu, Port Harcourt, Okilo taught in some primary schools in the riverine areas and in May, 1956 joined the Eastern Nigeria Judiciary as a Court Clerk and Interpreter. The period he spent as a teacher in village schools and Court interpreter in the Niger Delta enabled him experience the squalor, poverty, neglect and environmental degradation confronting the Niger Delta people.

What Okilo witnessed in the Niger Delta, spurred him to dedicate his life to the service of his people and humanity In 1956, Shell struck oil at Oloibiri in Bayelsa State. Okilo was then a court interpreter. He saw how the people were dispossessed of their Land without adequate compensation. This pathetic situation moved Okilo to mobilize the people to establish The Oloibiri Land owners Association which became a platform for agitating for better compensation for those whose Land was acquired for oil exploitation.

Okilo’s struggles in this regard at Oloibiri and its environs endeared him to the riverine people and made them see him as a leader to trust, a patronage he enjoyed throughout his political career.

As Nigeria approached independence from Britain in 1960, there were apprehensions

Okilo

as to whether the Country would survive as one united and indivisible Nation. The amalgamation of the Northern and Southern Protectorates into one country by Lord Lugard in 1914, brought together over two hundred and fifty ethnic groups with mutually antagonistic interests into one Country. The divisions were deep and the fears were real.

Okilo emerged as one of the politicians that worked assiduously to hold Nigeria together despite the differences among her people.

For the Niger Delta people and their kit and kin on the mainland of what is today Rivers, Bayelsa and parts of Delta State, they demanded a Federal Territory–Niger Delta Special Area, to be autonomous and responsible only to the Federal Government in Lagos. A request that was not granted by the British Government. This led to the formation of the Niger Delta Congress (NDC) led by the great nationalist and statesman, Chief Harold Dappa Biriye. Though he was given the ticket to contest election into the Brass Federal Constituency, Okilo had no funds to execute his campaign. He had to sell his Raleigh Bicycle for thirteen Pounds to raise funds. He contested on the platform of NDC and won. The NDC was the opposition Party in the Eastern Region which was then controlled by Dr. Nnamdi Azikiwe’s National Council for Nigerian Citizens (NCNC).

In the Pre – independence National Election of 1959, the three major political parties were regarded as regional in character. Although the NPC won majority of the seats in parliament, the party was regarded as a regional party that could not muster the national spread to justify being called upon to form Federal Government by the British. But being in alliance with the NCNC and the Niger Delta Congress (NDC) which won a single seat from the extreme South, the British Government was satisfied that the NPC had reflected the geopolitical spread and national character to form the Federal Government. It has been suggested that if not for the singular seat won by Melford Obiene Okilo in the Niger Delta which brought the NDC, NPC and NCNC together, the British would not have handed over power.

Following the alliance between the NPC and NCNC, Alhaji Tafawa Balewa of the NPC became the Prime Minister while Dr. Azikiwe became the President. The young

Okilo emerged as Parliamentary Secretary to Balewa and later Junior Minister of External Affairs where he worked under late Dr. Jaja Nwachukwu who was the Senior Minister of External Affairs and member of the NCNC. As a junior Minister, he participated in establishing Nigeria High Commission offices in major countries across the globe, providing statutory and administrative framework for the establishment of the Organization of African Unity (OAU) and infused venom into the Liberation Movements in Africa.

In the Parliament, Okilo played the role of a bridge- builder between the North and the South. He brought the problems of the Niger Delta to the floor of the Parliament and succeeded in making Prime Minister Balewa to set up a Committee on the Niger Delta.

The Committee which was headed by Alhaji Shehu Shagari, recommended the creation of a Ministry of Niger Delta Affairs and the Niger Delta Development Board (NDDB). Shagari was later appointed Minister of Niger Delta affairs Ministry with mandate to develop the infrastructure of the Niger Delta. For five years, he was the lone voice in parliament advocating for the creation of Rivers State.

Okilo continued his struggles for the Niger Delta people until he went into self-exile in America as a result of the violence and chaos that characterized the politics of the first Republic. He completed his Law programme in America and went ahead to obtain a degree in Theology. When he returned from exile, he joined the efforts to keep Nigeria united despite the damage done to national unity by the 1966 military coup and the Civil war which lasted between 1967 and 1970. The creation of Rivers State out of the old Eastern Region by the Gowon regime was one of the aspirations of Okilo in parliament and other Niger Delta activists. He served as cabinet commissioner in the military administration of Commander A.P Diete Spiff in the old Rivers State.

In 1977, Okilo was elected a member of the Constituent Assembly which was set up by the Obasanjo regime to fashion out a new Constitution for the Country. Earlier, Okilo had contested election to become a Councilor representing Oloibiri Ward 1 in Brass Local Government Area in present day Bayelsa State. This was after he had served as a Member of the House of Representatives,

Junior Minister and Parliamentary Secretary.

He was returned unopposed as Councilor.

At the Constituent Assembly, he met late Dr. Chuba Okadigbo and Alhaji Shehu Shagari with whom he founded the National Movement that later metamorphosed into the National Party of Nigeria (NPN). Also, at the Constituent Assembly were: Mallam Maman Ali Makele, Alhaji Uba Ahmed, Chief Meredith Adisa Akinloye who later became the National Chairman of NPN, Late Chief Richard Akinjide (SAN) among others. They all became key actors in the politics of the Second Republic.

At the return of civil rule in 1979, Okilo contested election on the Platform of the NPN to become the Governor of old Rivers State which included the present day Bayelsa State.

He won and became the first elected Civilian Governor of old Rivers State. As Governor, he transformed Rivers State by executing projects that brought development and created enormous opportunities for the people of the State. He transformed the Healthcare system, education and built infrastructure for even development. It is on record that Okilo was the first Governor in Nigeria to establish a University of Technology and an Independent Power Plant (IPP). Till date, most of the projects executed by the Okilo Government are still seen all over Rivers and Bayelsa States. He also mobilized his colleagues in the oil producing states to place the issue of principle of derivation on the front burner of national discourse and explored statutory and legal means to ensure that the principle of derivation was entrenched in the revenue allocation formula of the nation.

Speaking on Okilo’s struggles that led to the restoration of the derivation principles as one of the criteria for revenue allocation, Second Republic Senate President, Dr. Joseph Wayas said : “Okilo was instrumental to the passage of the new revenue bill of 1981 that restored derivation. He should be appreciated for his commitment to justice, unity and oneness of Nigeria as one indivisible entity.” When the military terminated the second Republic, Okilo was detained for three years for no just cause. He was later cleared and given a clean bill.

In 1993, Gen. Sani Abacha appointed Okilo Minister of Commerce and Tourism where he explored other alternatives to oil as a foreign exchange earner for the Country. He promoted the growth of Export Processing zones in order to stimulate and boost nonoil exports in Nigeria. As an active member of the administration, he used his political contacts and personal relationship with the Head of State to influence the creation of Bayelsa State, the only homogenous Izon state in the Federation.

In 1999, Chief Okilo was elected into the Senate. He contributed to the efforts that made the passage of the Niger Delta Development Commission (NDDC) Bill possible. This led to the establishment of the NDDC and the Ministry of Niger Delta Affairs which are today carrying out massive development projects in the Niger Delta.

Not done with political accomplishments at the State and National level, Okilo aspired to become president and Vice President of Nigeria on different platforms including the National Republican Convention (NRC), Nigeria Solidarity Movement (NSM) and Movement for Democracy and Justice (MDJ).

Throughout life, Chief Okilo demonstrated uncommon Commitment to the Niger Delta people and the survival of Nigeria as one indivisible and united Country. He shunned wealth and ostentation for the good of the ordinary people. He was a good family man and benefactor to a lot of under-privileged people.

History will forever remember Melford Okilo as a sstatesman, nationalist, bridge-builder, Philosopher and administrator.

19

T H I S D AY Ëž ÍŻÍłËœ 2020

BUSINESSWORLD

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

ÍŻ ÍŽ Ëœ Í° ÍŽ Í° ÍŽ MONEY MARKET OVERNIGHT OBB

REPO 14.10 13.80

CALL 1-MONTH 3-MONTH

12 13 15

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

573.42% -0.32% 1.88%

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

1.88% 19.17%

EXCHANGE RATE N381/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes IFAD Advises on COVID-19 World

BUSINESS REVIEW

L-R: Chairman, Ecobank Nigeria, John Aboh; Immediate past Chairman, Ecobank Transnational Incorporated (ETI), Emmanuel Ikazoboh, and Managing Director,EcobankNigeria,PatrickAkinwuntan,duringETI’sAnnualGeneralMeetingheldinLagos‌recently

Analysts Predict Boom for Agric Sector Post COVID-19 Oluchi Chibuzor Some financial experts have predicted that agricultural sector will drive economic activities in the country post COVID-19.

This, according to them, was in view of the various intervention funds injected into the sub-sector by the federal government.

Speaking at the EFG Hermes first virtual investor conference held recently, the Head of Frontier Research, EFG Hermes, Kato Mukuru, said production of basic consumables like what to eat would drive the economy.

According to him, “It is really hard when to call the

ECONOMY peak or timing of the peak of the crisis for a country without a scientific model, hopefully Nigeria will peak August and done by the end of September, 2020. “Agriculture will drive the recovery process very fast because of the various Central Bank of Nigeria facilities that support funding agricultural products. There is a massive need for Nigeria to reduce its import bill and bulk of it is basic products.�

Earlier, commenting on the conference, Chief Executive Officer, EFG Hermes Holding, Karim Awad said, “The

conference is being held in the middle of significant global economic changes as the COVID-19 pandemic continues to have effects, with special challenges facing Frontiers Emerging Markets (FEMs). “Lockdowns and the resultant decrease in global trade earnings, coupled with a contraction in portfolio inflows have strained several countries’ financial positions.�

Despite current challenges facing frontier and emerging markets, the co-CEO of the Investment Bank at EFG Hermes, Mohamed Ebeid, believes the changes in the macro picture might create new opportunities for countries, markets and companies.

“Investors and executives will nevertheless have to navigate a changed landscape, where previously more-or-less hidden structural trends come to the fore and accelerate.�

Reiterating the role agricultural sector will play in the post COVID-19 in the face of FEMs opportunities, Mukuru noted that, “there is so much more that can be done in terms of processing and distribution. “We will begin to see more investments in retails, household products, supply chains, cold storage facilities for farmers, it is going to be a new and dynamic Nigeria and what people need will be critical in the post pandemic era.�

ABCON Urges FG to Suspend Tax, Tariff Hike The Association of Bureaux De Change Operators of Nigeria (ABCON) has called on the federal government to suspend all increases in taxation and tariffs until the economy recovers from the impact of the COVID-19 pandemic.

The association made this call in its Quarterly Economic Review report for the second quarter of the year 2020.

While commending the recent decision to suspend the proposed hike in electricity tariff, ABCON urged that the same decision should be extended to proposed increases in taxation and tariffs, stressing that shortfalls in the budget as a result of the suspension should be covered with COVID-19 related donations. “Most importantly, government should as a major policy during this COVID-19 recovery period suspend any imposition or increase in taxation

ECONOMY instead such shortfalls that might have emerged between national budget adjustments and expenditures should be covered by various financial support to COVID-19 from foreign and local contributors. “In line with this observation, all current increases on in tariffs and taxes could be deferred until when the economy recovers from the effects of the pandemic,� the association stated.

ABCON also called for actions to minimise disruptions in the food chain noting that, “the lockdown and the consequent effects have been in Nigeria for about four months now in various states of the federation. “One of the evident consequences of COVID-19 crisis is the potential to trigger a

food security crisis in Nigeria, with agricultural production potentially contracting between 2.6 per cent in an optimistic scenario and up to seven per cent if there are trade blockages according to a World Bank survey. “Thus, there should be more emphasis on saving lives and protecting livelihoods through strengthening health systems and taking quick actions to minimise disruptions in food supply chains. “There should also be faster implementation of social protection programs, including cash transfers, food distribution and fee waivers, to support citizens, especially those working in the informal sector.�

In the same vein, the association called for a paradigm shift in the foreign exchange market with the Central Bank

of Nigeria (CBN) focusing on to supply side management from demand side management. In this regard, ABCON President, Aminu Gwadabe said: “The CBN should look beyond the portfolio inflows, which adds to the public debt, and seek stable and germane sources of foreign exchange. “The present unification of exchange rate should also be supported by new techniques and redefined trade policies particularly to mismatch import duties where duties on raw materials are sometimes higher than imported finished goods.�

ABCON also stressed the need to open up the remittances market to allow more operators, especially BDCs, so as to increase access points, drive down the cost of remittances services for customers and also enhance financial inclusion across the country.

Indigenous Peoples and their unique knowledge are essential to address the COVID-19 outbreak and to build a more sustainable, resilient world as we recover from the pandemic, the President of the International Fund for Agricultural Development (IFAD), Gilbert Houngbo has said. “The COVID-19 pandemic shows us that we need to rethink the way we interact with nature, as well as how we produce and consume food. The continuous use of unsustainable agricultural practices, and the devastation of forests and wildlife, are part of what has brought us into closer contact with the virus that causes COVID-19,�

Houngbo explained. “Indigenous Peoples have long warned of the consequences of exactly these kinds of practices�.

Houngbo was speaking ahead of yesterday’s event focused on the importance of partnering with Indigenous Peoples to achieve the Sustainable Development Goals and build a more resilient future, heldonthemarginsoftheUnitedNationsHigh-LevelPoliticalForum on Sustainable Development (HLPF).

The event was co-convened by Canada, Finland, the Food and Agricultural Organization (FAO) and Indigenous Peoples Major Group (IPMG) for Sustainable Development. “We must recognise and acknowledge the important role that Indigenous Peoples play in supporting and protecting sustainable livelihoods. They provide sound stewardship of our environment, and help build greater biodiversity and sustainable food systems,� said Minister Karina Gould, Canada’s Minister of International Development who is opening the event.

Rotary Oers Vulnerable Persons Credit

Rotary International District 9110 Nigeria has commenced the disbursement of its mega micro-credit loans to small scale business owners and indigent persons in its catchment areas of Lagos and Ogun States.

The district earmarked N50 million for the scheme and planned to reach at least 1,000 beneďŹ ciaries in its 2020/2021 Rotary Year.

The disbursement commenced in Lagos recently, with the ďŹ rst set of 27 beneďŹ ciaries receiving cheque of N50, 000 each, which was to help them scale up or start their businesses and make them self-sustaining. According to the district, the loan is interest-free and would be paid back by the beneďŹ ciaries after ďŹ ve months of collection.

Speaking at the disbursement ceremony, the District Governor, Mr. Bola Oyebade, said the programme was conceived by the district to empower low income and indigent members of the society, and make them better people.

According to him, “It is one of those projects of Rotary to members of the public that are low in terms of ďŹ nance, to empower them and make them better people in the society. “We don’t want anybody to be dependent on other people, and that’s why we decided to launch the scheme. Let us empower a few people and the few people empowered will empower more people. That is exactly what we are doing.â€?

Oyebade said the district expected to make the scheme to last forever.

Lagos to Double Ferry Fleet

Governor Babajide Sanwo-Olu has said the state will double its ferry eet by the end of this year. He spoke during a recent interview on TVC News. The governor addressed a number of topics in the 15-minute interview related to his oďŹƒce, personal life and dreams of A ‘ Greater Lagos,’a dream which he is determined to see to fruition.

Emphasizing his commitment to his primary constituents, the Governor noted, “I am a people’s person, that’s all I’ve done. I share the pain of people and the only reason why I’m in government really is to make life better for them.�

The Governor shared his administration’s masterplan for an integrated system which utilises the land, rail and water modes of transportation. Sanwo-Olu iterated the need to develop innovative transport alternatives due to Lagos’ unique topography comprised of one-third water.

“We have agreed that in the next 18 months or maximum of 22 months, we would bring Mr. President here and walk him around the new refurbished National Theatre and all its adjoining wings�

Lagos State Governor,

Babajide Sanwo-Olu

20

T H I S D AY Ëž ÍŻÍłËœ Í°ÍŽÍ°ÍŽ

Succor for Households, MSMEs Dike Onwuamaeze writes on the impact of the targeted credit facility meant to cushion the impact of the COVID-19 on the economy

S

ome households and operators of micro, small and medium scale enterprises (MSMEs) that were beneďŹ ciaries of the Central Bank of Nigeria’s (CBN) N50 billion Targeted Credit Facility meant to cushion the impact of the COVID-19 on the economy, have continued to heap praises on the Bank for the intervention.

According to some of the beneficiaries, the fund which came at a time when the world was feeling the excruciating effects of the pandemic went a long way in helping them mitigating the impact of the pandemic.

The CBN recently revealed that it has so far disbursed N49 billion out of the intervention fund.

Giving details of the Targeted Credit Facility disbursement, CBN’s Director, Corporate Communications, Mr. Isaac Okorafor, revealed that about 80,000 operators of MSMEs and families benefitted from the intervention fund.

He said the fund was expected to support the federal government’s measures to stimulate economic activities as well as to help the economy avert a looming economic recession. “So far, out of the N50 billion targeted credit facility for households and small businesses, we have disbursed about N49 billion. We also have other intervention funds such as the N100 billion healthcare facility, whose disbursement is ongoing as well,� he had explained.

The NISRAL Microfinance Bank (NMFB) served as the disbursing financial institution and the fund is meant for SMEs, households and enterprises that have verifiable evidence of livelihood and evidence of business activities adversely impacted by the pandemic.

For Mr. Benjamin Adeoye, a school proprietor, who benefited from the fun, he sent in his application using his mobile phone and after some weeks he was contacted that the loan had been approved. “I thank god for the intervention. I got about N1.6 million with which we procured more computers to enable us to transit to online learning. “Our classes are ongoing and we have managed to retain our teachers because parents can see that we are still adding values to their children despite learning from home,� he said.

Also, Faith Oluku, an operator of a micro business who resides in Abuja, said the process of accessing the loan was seamless.

Darlington Efughi Chukwuyere who is into fashion designing in Aba is another beneficiary.

He said to: “I applied for N1 million but after the oral interview with the NIRSAL team, N400,000 was approved. “I can also testify that I didn’t have to go through anyone or provide impossible collaterals to get the loan. I simply applied online.

The apex bank had earlier released guidelines for the disbursement of the special intervention fund.

The guidelines for the fund had listed sectors

eligible for the credit facility to include agric value chain, hospitality, health, airline service providers, manufacturing/value addition, trading as well as any other income-generating activities as may be prescribed by the CBN. The scheme is being financed out of the CBN’s N220 billion Micro, Small and Medium Enterprises Development Fund (MSMEDF).

Out of the fund, the CBN had earmarked a maximum facility of up to N25 million for MSMEs while households can access up to N3 million based on the activity, cashflow and industry/ segment size of a beneficiary. “Working capital shall be a maximum of 25 per cent of the average of the previous three years’ annual turnover; where the enterprise is not up to three years in operation, 25 per cent of the previous year’s turnover will suffice. “Interest rate under the intervention shall be five per cent per annum all-inclusive up to 28th February 2021 and thereafter, the interest on the facility shall revert to nine per cent as from 1st March 2021,� part of guidelines for accessing the fund had stated.

According to the CBN, for households/MSMEs, the first step is for an eligible household to submit an application to NIRSAL MFB, which must, among others, contain BVN number, business registration (where applicable) and business plan with clear evidence of the opportunity or adverse impact as a result of COVID-19 pandemic NMFB shall appraise and conduct due diligence applications. Upon satisfactory appraisal of application, NMFB shall forward the applications to the CBN for final approval, Then, CBN reviews applications and gives final approval for disbursement to NMFB.

For corporates, like their MSMEs counterparts, applications are submitted to NMFB with clear evidence of the opportunity or adverse impact as a result of COVID-19 pandemic.

Also, NMFB shall appraise and conduct due diligence applications, after a satisfactory appraisal of the application, NMFB shall forward the applications to the CBN for final approval.

After that, the CBN reviews applications and gives final approval for disbursement to NMFB. Indeed, since the outbreak of the virus in the country, the CBN has adopted an expansionary monetary policy stance in order to save jobs and livelihoods.

The first step was for the bank to unveil palliative measures to cushion impact of the virus on economy. These measures beside the N50 billion for households and MSMEs, included the extension of moratorium on all CBN intervention facilities; interest rate reduction; Credit Support for Healthcare Industry; regulatory forbearance; as well as the strengthening of its loan-to-deposit ratio policy. In addition, the CBN also announced that the N100 billion credit support facility would be funded from the Real Sector Support Facility – Differentiated Cash Reserves Requirement (RSSF-DCCR).

It listed eligible participants under the scheme to include healthcare product manufacturers, including pharmaceutical drugs and medical equipment; healthcare service providers/medical facilities – hospitals/clinics, diagnostic centres, laboratories, fitness and wellness centres, rehabilitation centres, dialysis centres, blood banks, etc.

According to analysts, the intervention by the central bank is essential considering recent predictions by the World Bank that the pandemic

could push another five million Nigerians into the poverty bracket if the government doesn’t respond appropriately.

The multilateral institution anticipated that the collapse in oil prices coupled with the pandemic will plunge the Nigerian economy into a severe recession, the worst since the 1980s. It estimated that Nigeria’s economy would likely contract by 3.2 per cent in 2020. “The macroeconomic impact of the COVID-19 pandemic will likely be significant, even if Nigeria manages to contain the spread of the virus,� it stated.

Oil represents more than 80 per cent of Nigeria’s exports, 30 per cent of its banking-sector credit, and 50 per cent of the overall government revenue.

With the drop in oil prices, government revenues are expected to fall from an already low eight per cent of GDP in 2019 to a projected five per cent in 2020, the bank said. “This comes at a time when fiscal resources are urgently needed to contain the COVID-19 outbreak and stimulate the economy. “Meanwhile, the pandemic has also led to a fall in private investment due to greater uncertainty, and is expected to reduce remittances to Nigerian households, which in recent years have been larger than the combined amount of foreign direct investment and overseas development assistance,� it added. “While before the pandemic, the number of poor Nigerians was expected to increase by about two million largely due to population growth, the number would now increase by seven million – with a poverty rate projected to rise from 40.1 per cent in 2019 to 42.5 per cent in 2020,� the report added.

S’East Importers Petition NASS over Delayed Clearance of Goods David-Chyddy Eleke in Awka Traders in the five states of the South-east under the aegis of South East Amalgamated Markets Traders Association (SEAMATA) have petitioned the National Assembly over delay in clearing goods from the Lagos port.

The traders are asking the National Assembly to come to their aid as their goods imported into the country since the COVID-19 pandemic lockdown have remained in the port, accumulating demurrage. A petition sent to the National Assembly, signed by the chairman and secretary of the

group; Gozie Akudolu and Alex Okwudiri respectively and made available to THISDAY, called for intervention to ease their plight. “The cargoes and consignments of our members were lying at the facilities of the handling companies at the ports all this period of pandemic lockdown

while the interest on the loans and overdrafts with which the goods were imported were accumulating with the banks. “The worst now came with the cargo handling companies that had over these periods shut down and refused services to our members, now demanding

demurrage for the consignments. “We are worried that the demurrage being demanded by the handling companies and agencies have continued to run into millions of naira to the extent of increasing the cost of the imported goods by over five hundred percent and also

over eighty percent of the market value of the goods.�

The group said if the National Assembly failed to intervene promptly to salvage the situation, the traders would incur huge financial loses and may not be able to repay their bank loans and overdrafts.

Jaiz Bank Empowers 2,239 Women through Environment Initiative James Emejo in Abuja The Managing Director, Jaiz Bank Plc, Mr. Hassan Usman has said the bank’s Green Account initiative has successfully diverted 113.226 tons of waste from the landfills and saved 12.285 million Kg of green house gases or an equivalent of 1,011 cars taken off the road.

Speaking at the inaugural Islamic Finance and the UN Sustainable Development Goals (SDGs) Taskforce virtual meeting, he said Jaiz Bank in collaboration with its development partners including United Nations Development Programme (UNDP), Abuja Environmental Protection Board (AEPB) and Chanja Datti were

able to use the Green Account to protect the environment.

He said: “In less than a year, the project successfully diverted 113.226 tons of waste from the landfills and saved 12.285 million Kg of Green House Gases (equivalent to 1,011 cars taken off the road).�

In his presentation at the meeting, convened by the

Islamic Finance Council UK (UKIFC) in partnership with the UK Government, which brought together over 40 global Islamic finance leaders, Usman also revealed that the bank is piloting a dedicated rural women economic empowerment scheme that had so far created job opportunities

and moved about 2,239 women out of poverty.

The pioneering meeting is intended to explore the role Islamic finance can play in addressing the $2.5 trillion SDGs funding gap as part of the post-Covid-19 economic recovery.

Stakeholders had also discussed the need for the Islamic

finance sector to move from talk to collective action to support the achievement of the global goals by 2030.

Islamic Development Bank President Bandar Hajjar also welcomed the initiative and called for greater cooperation between the public and private sectors and to use the SDGs to inspire financial innovation.

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NCAC Holds Nigeria’s First Drive-in Engagement Charles Ajunwa Nigeria’s cultural tourism community has witnessed its first successful post COVID-19 new normal engagement with a drive-in artistic experience.

The event which held in Abuja, recently, was with very tight security, social distancing and a must-wear mask protocols, ushered in selected car owners strategically connected to a special programme frequency for sound, dedicated pavilions and over 40 visitors’ convenience.

The well illuminated and decorated open theatre

stand was centralised and visible from all directions and angles, with the thespians observing the approved protocols, with the Abuja hotel staff serving guests with snacks and beverages at intervals and fully following the established hygiene protocols.

The drive-in engagement which was put together by Director-General of the National Council for Arts and Culture (NCAC), Segun Runsewe, was beamed on Zoom, Instagram, Facebook and other social media page accounts, the presence and on the spot coverage by notable Nigerian television stations added to the

glamorous experiment.

With Runsewe’s post COVID-19 creative offensive efforts, the drive-in open theatre was geared towards perfecting the upcoming National Festival of Arts and Culture (NAFEST) slated for Jos in October.

With the digital interaction attracting over 18 countries, with ambassadors of Trinidad and Tobago, venuzuela, India, Pakistan and China, the template for Nigeria’s come back to life post-COVID was on showcase.

Added to the live theatre experiment was a clinical driven pre and post fumigation on the

event ground and facilities, with special attention paid to the dedicated pavilion for the photojournalists and television camera personnel.

Runsewe, expressed happiness at the encouraging presence of Nigerians and culture enthusiasts who graced the occasion, adding that Nigeria has once again made statements that life has returned in the country post-COVID-19. “We are a big country and we shall continue to prepare and not relax. COVID-19 may have impacted on the cultural tourism businesses worldwide but in Nigeria, we are back on the beat, we are going to overcome

challenges and put the right foot forward. “A country with 36 states and federal capital, ready to come together in a cultural show of force slated for Jos in October, cannot take anything for granted,� he explained.

On the showcase of the iconic culture and tourism destinations in Nigeria, the DG of NCAC stated that the effort powered at the end of each performance is to add value to the business of promoting Nigeria and her people. “Each performance comes up at the end with dedicated video playback of selected destinations and

iconic cultural offerings to spice additional information about any state on showcase. “We also got the Nigerian media backing because we understand the reach and usefulness of keeping the government and people informed of how ready we are in this whole process.�

Chairman, House Committee on Culture, Hon. Ogbeide Ihama, congratulated Runsewe on the frontal drive-in effort, noting that NCAC has more than justified its corporate relevance and contributions to the advancement of Nigerian cultural tourism beyond COVID-19.

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NCAC Holds Nigeria’s First Drive-in Engagement Charles Ajunwa Nigeria’s cultural tourism community has witnessed its first successful post COVID-19 new normal engagement with a drive-in artistic experience.

The event which held in Abuja, recently, was with very tight security, social distancing and a must-wear mask protocols, ushered in selected car owners strategically connected to a special programme frequency for sound, dedicated pavilions and over 40 visitors’ convenience.

The well illuminated and decorated open theatre

stand was centralised and visible from all directions and angles, with the thespians observing the approved protocols, with the Abuja hotel staff serving guests with snacks and beverages at intervals and fully following the established hygiene protocols.

The drive-in engagement which was put together by Director-General of the National Council for Arts and Culture (NCAC), Segun Runsewe, was beamed on Zoom, Instagram, Facebook and other social media page accounts, the presence and on the spot coverage by notable Nigerian television stations added to the

glamorous experiment.

With Runsewe’s post COVID-19 creative offensive efforts, the drive-in open theatre was geared towards perfecting the upcoming National Festival of Arts and Culture (NAFEST) slated for Jos in October.

With the digital interaction attracting over 18 countries, with ambassadors of Trinidad and Tobago, venuzuela, India, Pakistan and China, the template for Nigeria’s come back to life post-COVID was on showcase.

Added to the live theatre experiment was a clinical driven pre and post fumigation on the

event ground and facilities, with special attention paid to the dedicated pavilion for the photojournalists and television camera personnel.

Runsewe, expressed happiness at the encouraging presence of Nigerians and culture enthusiasts who graced the occasion, adding that Nigeria has once again made statements that life has returned in the country post-COVID-19. “We are a big country and we shall continue to prepare and not relax. COVID-19 may have impacted on the cultural tourism businesses worldwide but in Nigeria, we are back on the beat, we are going to overcome

challenges and put the right foot forward. “A country with 36 states and federal capital, ready to come together in a cultural show of force slated for Jos in October, cannot take anything for granted,� he explained.

On the showcase of the iconic culture and tourism destinations in Nigeria, the DG of NCAC stated that the effort powered at the end of each performance is to add value to the business of promoting Nigeria and her people. “Each performance comes up at the end with dedicated video playback of selected destinations and

iconic cultural offerings to spice additional information about any state on showcase. “We also got the Nigerian media backing because we understand the reach and usefulness of keeping the government and people informed of how ready we are in this whole process.�

Chairman, House Committee on Culture, Hon. Ogbeide Ihama, congratulated Runsewe on the frontal drive-in effort, noting that NCAC has more than justified its corporate relevance and contributions to the advancement of Nigerian cultural tourism beyond COVID-19.

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Waiting for Stock Market Trigger

As the market remains bearish since the beginning of the second half of the year, it is expected that improved half-year companies’ results will trigger a recovery and positively change the direction of the market, writes Goddy Egene

S

tock market investors have been adopting cautious trading since the beginning of the second half (H2) of the year leading to a decline of about 0.12 per cent so far.Year-to-date, the market has declined by 9.8 per cent.

Having depreciated by 20.6 per cent in the first quarter (Q1), the market recovered in the second quarter (Q2) to gain N1.667 billion. Although the gain was expected to be sustained as the third quarter began, the market has remained bearish as investors have trade cautiously. Market operators said many investors are waiting for the release of financial results of companies for the half year to June 30, 2020.

According to operators, the outcome of the results would determine the direction of the market in the third quarter and whole of the H2 of the year. They therefore advised discerning investors to take advantage of the current low prices and increase their investments in the market.

For instance, a stockbroker, Mr. Ayo Oguntayo, explained that some stocks have suffered significant price depreciation in the last month of the Q2 due to profit taking after a rally in April and May. “Just like the scenario that occurred after the decline in Q1 when investors swooped on shares due to their low prices, the decline in June has provided an opportunity for discerning investors to come in ahead of the release of H1 financial performance of companies. Although there are some apprehension that the COVID-19 pandemic may have impact on the results, there are possibilities of some companies still coming up with positive results because many of them activated their business continuity plan that helped to mitigate the negative impact of the lockdown,�

Oguntayo said.

The President, Chartered Institute of Stockbrokers (CIS), Mr. Olatunde Amolegbe, said there are still significant headwinds as we expect financial results. The CIS boss explained that the market started the year with the post-election hangover but gradually picked up as companies started posting their annual results. “Unfortunately the rally was curtailed by the Covid-19 pandemic that eventually led to a lockdown of activities across board. Interestingly the two month’s lockdown period witnessed unexpected market recovery as the Nigerian Stock

NSE trading oor Exchange (NSE) All-Share Index (ASI), which was down about 21 per cent pre-lockdown gained about 12 per cent within that two months .

This really is a testimony to the foresight of the NSE and stockbrokers to have digitized their business in preparation for unforeseen events such as this,� he said.

Omolegbe said the market continued to serve the nation even during the lockdown, explaining that on the fixed income size yields continued to trend downwards due to excess system liquidity and many coporates such as Dangote Cement Plc and MTN Nigeria Plc took advantage of this to raise cheap capital via bonds and commercial paper issuance despite the pandemic. “The federal government also raised a massively successful third FGN Sukuk Ijarah during the period. All in all the financial market did as best as could be expected during this unusual period but significant headwind remains as we await the corporate earnings reports for the Q2(and half year),� he said.

Also speaking, the Chief Executive Officer of Wyoming Capital and Partners, Mr. Tajudeen Olayinka, said the 8.8 per cent declined at the end of H1 2020 is still a reasonable figure to celebrate if we must consider what the economy went through in the course of global pandemic, especially the shocks that were transmitted through the market when crude oil prices eventually collapsed in April, 2020. “Now that market has had a better understanding of the pandemic, and the fact that everyone has

Samsung Unveils Maritime Innovations to Modernise Shipbuilding in Nigeria Peter Uzoho Samsung Heavy Industries (SHI) is developing innovative methods to facilitate smart shipping by undertaking thorough research across their multiple research centres in Geoje, Daeduk and Pangyo in Korea.

According to a statement issued by the company, the aim is not only to transform Samsung’s shipyard at Geoje into a smart shipyard, but also transfer the wealth of technological knowhow from Korea to Nigeria, cultivating smart shipping in Nigeria as well.

The statement added that the innovations currently being worked on have the potential to bring about radical changes in the shipping industry, fostering the use of ecofriendly technology, a switch to digitised management and self-reliance on inspection for offshore engineering and more.

During the construction of the Egina, the world’s largest FPSO, Samsung Heavy Industries Nigeria (SHIN) was already able to apply many innovations from their Korean operations. This helped shorten

the Egina project integration process to seven months, the fastest in Africa amongst comparable projects.

Now, rigorous research is underway at both their onshore and offshore R&D centres across Korea.

The ICT Convergence Centre in Geoje, for instance, is working on integrating an innovative ICT and production technology in up to six different categories.

The company aims to use Cloud, Big Data, and loT, among other advanced tools, to make shipbuilding and operations on the fabrication and integration yards smoother and smarter.

The technologies to be implemented will facilitate more efficient ways of working, lowering the cost of operations, increasing safety, and modernising the shipbuilding industry in Nigeria.

Sustainable method of production, based on digital modes of operations, is the need of the hour as every country makes its move towards energy transition.

Samsung Heavy Industries is planning to bring into existence radical methods of working

that include fully functional paperless factories, real-time transfer of manufacturing records, 3D and 4D model visualisation, and map-based navigation, which allows for an easy-to-use real-time location guide for even unskilled workers in complex offshore plants.

Samsung Heavy Industries has identified Nigeria and the West Africa region as an emerging market with an abundance of opportunity. “Our investment in West Africa is a long term one, rooted in helping develop local human capacity by leveraging our fabrication and integration yard to the benefit of the entire West African maritime industry,� Managing Director of Samsung Heavy Industries Nigeria, Mr. Jejin Jeon, said.

The new and modern ways of working will not only empower Nigerian maritime industry but is a promising opportunity for the youth of Nigeria, who will receive hands on training in these necessary tools of smart working that are soon to become the norm in every industry in the near future.

got to live with it, going forward, it is unlikely that market will go through a repeat of the experience we had at the start of the pandemic. However, market needs to analyse H1 results that are being awaited, to determine the impact of the pandemic on listed companies, before taking further investment decisions or charting a way forward. More importantly, how the various measures put in place by government would impact the economy as a whole. On a balance of probability, we may see a better market in H2 2020,� Olayinka said.

In the same vein, the MD/CEO, Dynamic Portfolio Limited, Mr. Remi Lasaki, apart from the fact that the market is waiting for H1 results, there are some other issues that must be addressed for a better performance.

He said: “Foreign investors are still contending with scarcity of Dollar in their bid to repatriate their money. This is an issue. Government should look at velocity of spending. It has slowed down.

There is a need to address the issue of tax again.

You don’t tax people who are in dire need of cash flow. People’s ability to spend has been constrained.

They are waiting for half -year results to see the

effects of Covid-19.� Investors were last week assured of the safety of their investments in the market. The Director General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, who resumed with three executive commissioners last Monday, gave the assurance.

Although the capital market has so much potential, one of the reasons those potential have not been fully tapped is low patronage. And of the reasons for the low patronage is the fear of loss of investment as a result of weak regulation and lack of adequate protection.

However, Yuguda has investors their investments would be protected. Speaking last week on resumption of office, the DG said: “We want to assure investors that this market is for them and we are ready to do everything to ensure that we increase investor enlightenment through education, robust regulation and fair dealing. For those that want to defraud investors, there would be no respite because we are ready to fight market manipulation to the last, anyone that flouts our rules will be made to face the consequences of their actions.�

He stressed that investor protection would be at the centre of the initiatives of the new management, warning that any operator that short-changes investors would not go scott free.

He also assured that the new management would work to the best of their abilities to uphold things on ground and consciously seek ways to improve them to the benefit of all stakeholders. “Together we must set our sights on achieving those milestones that are capable of making the capital market a powerful engine of growth for the Nigerian economy, with God’s help and our collective resolve and dedication, we shall succeed,� he added. Yuguda said the capital market master plan launched in 2014, has the objective of positioning the capital market for an accelerated development of the national economy.

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IMAGES

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

L-R: Minister of Defence, Maj.-Gen. Bashir Magashi (rtd) and Commandant, AFCSC, AVM Abubakar Sadick Liman, at the commissioning of Hall of Fame at the Armed Forces Command and Sta College (AFCSC), Jaji in Kaduna state...recently

L-R: Minister of Communications and Digital Economy, Dr Isa Pantami and Governor of Kaduna state, Nasir ElRufai, during the Minister’s courtesy visit to the Government House, Kaduna...recently

L-R: Representative of the Controller General, Federal Fire Service (FFS), Dr Calistus Agu; Commandant, National Fire Academy, Mr Tijani Abbas and Deputy Governor of Anambra State, Dr Nkem Okeke, during the inauguration and presentation of two Digital FireďŹ ghting Trucks to the Government of Anambra in Awka, Anambra ...recently

Newly appointed Executive Secretary, Nigeria Christian Pilgrim Commission (NCPC), Rev. Dr Yakubu Pam (2nd right) his wife Mrs Lucy Pam and others during the welcome reception organized to honour the Executive Secretary of NCPC in Jos, Plateau State...recently

Chief of the Air Sta, Air Marshall Sadique Abubakar (middle); Air OďŹƒcer Commanding, Special Operations Command, AVM Charles Ohwo (right); and Chairman, Birnin Gwari Local Government Area, Saleh Shuaibu, during the commissioning of roads and airmen transit accommodation at the 271 Nigerian Air Force Detachment at Birnin Gwari in Kaduna state...recently

R-L: Chairman, Fiscal Responsibility Commission (FRC), Mr Victor Muruako and Director-General, National Council for Arts and Culture, Otunba Segun Runsewe, during his visit to FRC headquarters in Abuja...recently

Director-General of NEMA, retired AVM Muhammadu Muhammed (right), presents bags of fertilizer as approved by President Muahmmadu Buhari for distribution to farmers aected by the 2018 ood in Anambra, to a victim, Mrs Virginia Ezekude (left), at Igbarian Awkuzu in Delta...recently

L-R: Project Director Niger Delta Development Commission (NDDC) Dr. Cairo Ojugo; ,acting Managing Dirctor NDDC Professor Kemebradi Pondei and Permanent Secretary Ministry Niger Delta Development Olusola Adesola during a two day public investigative hearing of the Adhoc committee on the investigation of the alleged ďŹ nancial recklessness in the NDDC IN Abuja...recently PHOTO: JULIUS ATOI

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24

EDUCATION Psychologists Proffer Measures for Girls’ Mental Wellness

Supporting the psycho-social wellbeing for health and mental wellness of the girl-child during this COVID-19 period is imperative, as psychologists who spoke to Funmi Ogundare explained efforts to guard against depression, traumatic stress disorder and anxiety in the event of an assault

P

sychologists are embarking on therapy sessions for the girl-child through psychological support, holding online classes, ensuring that they maintain a positive outlook, as well as empowering them with coding and digital skills to tackle cases of abuse. The abuses range from instability, sexual and gender-based violence (SGBV) and victimisation.

Other efforts include helping the girlchild develop coping mechanisms, setting realistic expectations for themselves and ensuring that there is an improvement in family communication to reduce the challenges of mental health.

Dr. Kareem Folajaiye is a clinical psychologist, who runs a shared private practice and a health advocate with Mentally Aware Nigeria Initiative (MANI). He said he and his colleagues had countless individual therapy sessions with teenagers and young women who are survivors of rape and SGBV. MANI has also started a free support group fully sponsored by its practice (Mumtaz Mind and Wellness Studio) to create a haven for survivors to share life experiences, unburden and become free from the trauma of their ugly experiences.

According to him, “everything we have done so far have been pro bono, offering our professional expertise and financial contributions towards ensuring that we lessen the burden of survivors within our society, without the help of external bodies or government support.�

He explained that most times, a shock is the first reaction of assaulted people because it is individuals who are close to them that mostly perpetrated the crime.

The shock Kareem noted, comes with several anxiety responses which are to fight, flight, freeze or appease. On conclusion of the act, some of them feel an intense sense of shame and guilt, rage, fear and regret.

He said these usually affect their physical, psychological and social wellbeing with glaring aftermaths. “Survivors usually suffer from flashbacks, sleep disturbances, dissociation, paid attacks, phobias, withdrawal/isolation, paranoia, localised pain, somatic problems and the development of chronic mental health conditions. “In the long-term, some survivors begin to adopt counter-productive coping mechanisms such as self-harm, substance abuse, social withdrawal and isolation.

These increase the likelihood of continuing anxiety, poor health, sense of helplessness, persistent fear and depression.�

The Executive Director, Pathfinders and Empowerment Resource Centre, based in the northern part of the country, Folashade Rojugbokan said the centre has had to organise a weekly online class for girls.

It commenced after a survey conducted on their areas of need, as well as offered psychological support to them. “We also distributed a few palliatives that we could afford, which included sanitary pads to help them through the period. During the period, there was an increase in sexual abuse and rape. We had three groups of girls who were victims of rape before and during COVID-19 and we were able to offer psychological support for them to ensure that they are mentally fit to heal after their experiences. “We had three types of therapy for them and we are still on. We are done with one group and we are yet to conclude on the other two. For some of them who were in businesses, we were able to help just only few who are girls. Some are into catering, while others are into online digital

They must be protected from traumatic stress disorder marketing. We were able to provide them with data, and we hope to do more,�

Rojugbokan said.

The Chairman, Board of Trustees, Ragamos Foundation, Dr. Regina Inem said due to increase in anxiety, poverty and violence against women and rape incidence, the foundation convened experts for a Zoom Webinar to extend solutions to managing mental health at this time.

They agreed that maintaining a positive outlook will help reduce mental health challenges at this time while stressing the need to create routines for themselves and their children. “Mothers should be close to their children, especially the girl-child, to know them more, especially the busy ones. They should ensure that they reduce exposure to social media and negative news, as well as making efforts not to pass anxiety and stress to their children.�

She said the foundation would be empowering the girl child with coding and digital skills as ICT plays a vital role during this period. “Many rural and vulnerable girls lack these skills. Technical skills are essential to excel in this current era,� she said.

Dr. Alexander Adeyemi is a physician working with young people in a school health setting. She has managed the mental health challenges of children. Some of the approaches she uses to help children who engage in self-harm are to help them develop coping mechanisms, setting realistic expectations for themselves and ensuring that there is an improvement in family communication.

She recalled the case of a 15-year-old girl who deliberately harmed herself. “She had lost a dear family member a few months before the incident. She lost

her grandmother to whom she was awfully close while in school the previous term.

She got home during the last holidays to the devastating news. Exactly six months to the day she got the story, she felt such grief and sense of loss that she picked up a stone and cut herself on her left forearm. “Following that, she decided to cover up the wound by wearing long-sleeved clothes the following day. A concerned hostel parent noticed her countenance and questioned her. Eventually, she disclosed to the hostel parent what she was going through, and the case was brought to my attention. “While interviewing her, she told me that the real reason she felt she could not manage the grief was that she was not certain she had a support system in her parents. She felt she had to deal with her challenges all alone and that a good outlet for the pain and fear was self-harm.

She had seen it been done in a movie on Netflix and thought to try it out.�

Part of her management, Adeyemi noted, was to get the girl and her parents talking about why she felt she could always not rely on their support.

It turned out to be a communication problem, as her parents felt that by providing all she needed and putting her in a good school, they were showing her how much they loved her. “She on the other hand, felt she was under pressure to prove that she was worthy of all that effort. The series of conversations with the parents, among other approaches, went a long way in helping her adjust her way of thinking.

After that, she was monitored closely in school, but the incident never recurred until she graduated.�

A social empowerment advocate, Mr. Taiwo Akinlami, said his organisation held a two-day programme on June 16 and 17 to educate the children. They reached out to close to 1,000 children online and taught them to understand that they could still rise above all the challenges to enjoy their childhood. The challenges include substance abuse, immorality among young people, lackadaisical attitude towards life, physical abuse in the society, One of the key issues raised was that they needed to speak up and move away from people who capitalise on their weaknesses and put them down. “So, we had all of those conversations for two days when we were able to reach out to close to 1,000 children. We also launched our online club, ‘the League of Greatness’. The goal is for them to take responsibility for personal safety and protection. It is by a commitment to a value system. Our organisation understands that mental wellness is a function of spiritual awareness which will enable you to know how to conduct yourself rather than being entangled in Stockholm Syndrome.�

One of the reasons children suffer a mental attack, he noted, is because they bottle up abuse and keep quiet. “If you are dealing with abuse or molestation, as a girl, you must speak up and find psychosocial support and encouragement. If you do not see any of that, and you bottle it up, it leads to a mental breakdown in the long run. We talk to the young people on the need for them to be responsible for their personal safety and protection and the need to learn to delay gratification as life is not as it appears,� Akinlami stressed.

This reporter met Miss Ngozi Okoro, 19, who was a victim of abuse. She told THISDAY how, because of low self-esteem, she felt unloved and rejected by friends while she was still in secondary school.

She said she had an altercation with a classmate one day who embarrassed her in the presence of classmates during break-time. “The incident dampened my spirit so much that I decided to cut my forearm with a pair of dividers from my maths set and I kept it to myself.�

The school management noticed her disposition to her classmates after that ordeal. She said one of the teachers called her to the staff room to ask what was wrong. “After I narrated what happened to the teacher, she informed the management and they decided that it would be best to invite my parents to the school for a meeting with the school counsellor and hostel parents.�

Okoro who is now a 100-level student of Accounting at the University of Lagos, said she is better now, as her management then was a collaborative effort aimed at helping her improve her self-esteem and coping mechanism.

MTN Commences 2020 Scholarship Schemes MTN Foundation has commenced calls for application for its annual scholarship schemes - Science and Technology Scholarship Scheme (STSS) and Scholarship Scheme for Blind Students (SSBS).

The call for application commenced on June 15, 2020 and it is open to students in accredited public tertiary institutions (universities, colleges of technology and polytechnics) across Nigeria.

Application for STSS is open to all third year Science and Technology students with a minimum CGPA of 3.5 (second class upper/or its equivalent). The SSBS is for visually impaired students in their second and third year, with a minimum CGPA of 2.5 or its equivalent.

Speaking on the scholarship schemes, the acting Executive Secretary, MTN Foundation, Odunayo Sanya said: “We understand

the importance of education and technology in the development of our nation and this underscores our various interventions in the educational sector. Our youths are the future and fulfilling their dreams is key to this. We look forward to engaging with the newest recipients of the scholarship schemes once the process is completed. I encourage every eligible student to please apply.�

The sum of N200,000 will be awarded annually to cover each awardee’s tuition, book allowance and stipend, till graduation as long as they maintain the required grades.

The scheme has awarded scholarships to 3,829 students in the last 10 years. Interested candidates are advised to visit www.mtnonline. com/scholarships for more information and steps for entry.

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25

EDUCATION

Is UNICAL Vice Chancellorship for Sale?

Onen Arikpo

U

niversities are a legacy of the twelfth century. The period was not only an age of revival in the field of learning; it was an age of new creation in the field of institutions of higher education. The era set in motion the rapid evolution of the human mind. Universities were looked upon as remote monastic establishments, far from the world of affairs. In fact, universities had not existed hitherto because there was not enough learning in Western Europe to justify their existence. They came into being naturally with the expansion of knowledge in this period. Besides producing the earliest universities, the twelfth century also fixed their form of organisation for succeeding ages. Universities are society’s prehensile thumb, without which the advances of the last two (19th and 20th) centuries could never have been made, and on which the future advances in knowledge and technology depend.

In our clime, the first generation of Nigerian universities came into being at the initiative of the indigenes based on the recommendations of the Ashby’s report.

The Ashby’s Commission report also recommended the establishment of the National Manpower Board (NMB) and the National Universities Commission (NUC) culminating in the establishment of the Yaba Higher College in 1934 following consistent demands by West African Intellectuals. This snowballed into the establishment of the University College, Ibadan as a campus of the University of London in 1948, the University of Nigeria, Nsukka in 1960, the University of Ife in 1961 (now Obafemi Awolowo University), andthe rest of our first generation universities. The University of Ibadan later became autonomous in 1962.

Under the apparently placid surface of the academe, innumerable rivulets of secret activities are constantly whispering away.

The whole citadel of learning called the university is richly, vigorously and invisibly alive with an underground life of its own.

Indeed, politics are inseparable from any kind of cooperative society. It takes two to make a quarrel, but wherever three are gathered together they are certain to generate some kind of political activity. Outside government there is no more fertile field for the practice of politics than a university.

From the small family unit to the parliament itself, people combine and recombine in a bewildering, changing kaleidoscope of groupings in order to achieve their aims.

This is allowed in all human societies including the academia. But when the gathering or re-gathering involves the exchange of money in a cavalier manner in order to bring about a shortcut to an otherwise orderly process that demands transparency and due process, it is called corruption.

The university, revered as the highest echelon of intellectual and moral values is supposed to produce the human resources and manpower needed to steer the affairs of ‘state’. This invariably suggests that if there is a failure in leadership or dysfunctional state of affairs in any society, the teachers in the ivory tower should be held responsible.

This therefore implies that the process of selection of the vice-chancellor of any university should be based purely on merit and capacity, devoid of the usual politics of fraternity, ethnicity, religion and other sentiments. However, what is now worrisome is the great caprice and a tendency of the ivory tower to learn the dirty politics of the larger society, rather than these citadels of learning becoming the moral and ethical standard bearers for the rest of society.

There is no gainsaying the fact that leaders of the ivory tower (hitherto known for astute integrity and high moral proclivity) are invited by the Independent National Electoral Commission (INEC) to serve as returning officers for major national elections because the university as a distinguished community of scholars, teachers and researchers is trusted by the larger society to conduct profound and sublime assignments. But if the process of appointment of a vice-chancellor for any university is perceived to be marred

Minister of Education, Mallam Adamu Adamu by irregularities and ‘the highest bidder becoming the winner’, what then is the hope for the wider Nigerian polity?

On May 27, 2020, the print media were greeted by the advertisement of ‘Vacancy for the Position of Vice- Chancellor’ for the University of Calabar. The university which

started in 1975 as a campus of the University of Nigeria and became autonomous in 1979, has had quite some prominent vicechancellors from inception till date. Many erudite scholars and administrators, notably, Professor Emmanuel Ayandele, Professor Kelvin Ettah, to mention just a few, led at different times. Nothing was heard or known about irregularities and exchange of money or gratification before their emergence as vice-chancellors. But in the last two dispensations of the university administration, it is alleged that, ‘cash and carry’ and movement of ‘Ghana-must-go’ bags played a significant role in the appointment and sustenance of the administrations.

According to a reliable source, about N17 million was involved at a time and, about N40 million was involved at another time. This is aside from the huge amount of monies sent to Abuja and other places at different times to sustain the highly revered position of vice-chancellor that was allegedly bought off the shelf of those who determine who becomes vice-chancellor. No one knows how much would be involved in 2020. The only question still begging for answer remains: is the position of vice-chancellor for the University of Calabar for sale?

The role of the Academic Staff Union of Nigerian Universities, University of Calabar Branch (ASUU-UCB) in the whole marketing and sale of the position of the

vice-chancellor as rumoured from the grapevine is amply disturbing. Rather than ASUU-UCB to maintain and defend the values of the ivory tower, it is alleged that certain immediate past Chairmen of ASUUUCB and then members of the University Governing Council were the bag carriers for the transactions. It is not certain if the immediate past chairman of ASUU-UCB who is also currently a member of the University Governing Council would be involved in the courier of money for the purchase of the position of the vice -chancellor in the current dispensation.

The world is watching as to how the process of appointing a new vice- chancellor for the University of Calabar would be this time around. It is sincerely hoped that the current provision would be to premise the process on a fair, credible and level playing field where the best candidate that can provide “administrative leadership to a well-informed and articulate local academic community� would supervene. Let the ‘best’ candidate who satisfies the requirements for the exalted position be appointed to run the affairs of the University of Calabar. For the process to be transparent and acceptable to all the aspirants, it must be insulated from the primordial pastimes and sentiments that marred the two immediate past exercises.

-Arikpo, a university don, wrote in from Ugep, Cross River State

Lagos Begins Entrepreneurship Courses for Students in Eight Tertiary Institutions As part of the planned reopening of schools, the Lagos State Government has asked students in pre-final and final levels in eight tertiary institutions to enroll in entrepreneurship, employability and basic digital skills courses required for the workplace.

The programme is an initiative of the State Ministry of Education and is supervised by the Special Adviser to Governor Babajide Sanwo-Olu on Education, Mr. Tokunbo Wahab, who in a statement, urged students to access the required documentation at ‘Jobs Initiative Lagos’ (www. jobsinlagos.ng).

Wahab said: “This initiative will see to the complementary training of students in their ultimate and

penultimate year in entrepreneurship, employability and basic digital skills required for the workplace.

The essence of the programme is to account for the documented gaps in current curriculum that bedevils the employment market and to increase labour employability of these graduates.�

He said candidates who complete the programme would get “an opportunity to be featured on a jobs portal from where partner corporate organisations can select fresh graduates for recruitment. “This initiative will run alongside a more robust digital skills campaign ‘Digital Skills Initiative Lagos’ (www. dsilagos.ng) aimed at empowering

over one million young people in the state by 2023 with digital skills, which will invariably position Lagos as the Tech Hub of Africa.�

Also, he said students in secondary schools in Lagos would have access to well-trained instructors, while those out of school would access digital skills training and various internship opportunities as they complete the programmes.

The projects, he said are being coordinated by LoftyInc Allied Partners Limited - an innovation development company that develops start-up teams, manages innovation programmes and facilitates impact projects in West Africa.

LoftyInc is in partnership with

Microsoft, VMware’s IT Academy, Wennovation Hub, LoftyInc Capital Management and a host of other corporates.

The special adviser said the first phase of ‘Jobs Initiatives Lagos’ began in June and would continue over the next four months, leveraging a virtual learning platform, while the ‘Digital Skills Initiative Lagos’, would commence virtually until the ease of the lockdown necessitated by the COVID-19 pandemic.

Wahab said the two programmes are in sync with the THEMES Agenda of Governor Sanwo-olu in the state, wherein education is a key pillar with multiplier effect of human capital development.

NASFAT Unveils HAVEK Leadership Academy, to Train 1,500 Young Leaders An Islamic society, Nasrul-lahi-li Fatih (NASFAT) has announced the birthing of HAVEK Leadership Academy, established to teach leadership skills, address mindset issues, as well as develop exceptional leaders based on sound Islamic values and ethics.

HAVEK, crafted from Haven of Knowledge, is an incorporated entity focused on developing minds based on Islamic leadership principles and is expected to bridge the gap of non-availability of Islamic ethics, values and culture-based leadership schools and programmes in Nigeria.

According to the pioneer Chairman of HAVEK, Mr. Niyi Yusuf, the

academy is a deliberate initiative of NASFAT, aimed at honing and producing responsible young leaders based on global best practice and Islamic principles in governance, ethics and values for a desirous future that guarantees sustainable and impactful leadership.

Yusuf added that HAVEK is guaranteed and envisioned to integrate a combined curriculum of management, leadership development, missionary, entrepreneurship, citizenship and vocational training skills towards breeding wellgrounded, resourced, committed, diligent and God-fearing leaders for the future. “It is hoped that HAVEK

will soon become the most respected leadership development academy in Nigeria and beyond, following in the footsteps of NASFAT. More importantly, contributing to the growth and development of ethical based and principled driven leadership thus positively contributing to the creation of a better world.�

The academy is said to have an ambition of training 1,500 young leaders in its first year and 1,000,000 by the end of its 10th year of operations in 2030 through its various virtual and offline programmes, including certificate courses, seminars, workshops, conferences, periodicals, articles, journals and

book readings focused on leadership and Islamic ethics.

HAVEK’s operations will be managed by a team of experts with the support of a governing board of respected and tested leaders across the private-public sector and missionary, including Sesan Kareem, Mr. Fatai Olayemi, Alhaji Alaba Olalekan, Alhaji AbdulLateef AbdusSalam, Hajia Shereefah Ajibola-Adeola, Alhaji Abdurrahman Abdulwahab, Dr. Rahmat Adetutu Adisa, Dr. Nasir Raji Mustapha and Alhaja Foluke Abdulrazaq in its quest to become a leading leadership development centre in Africa.

Greensprings Students Win IGCSE ‘Top in the Country’ Awards for the Fourth Time Three students of Greensprings School, Lagos have been announced in the ‘Top in the Country’ list of the June 2019 IGCSE exam.

The announcement was made recently by the British Council and Cambridge International, and this makes it the fourth consecutive time that students from the school make the list of the Outstanding Cambridge Learner Awards.

Expressing his satisfaction with the announcement, the Deputy Director of Education at the school, Dr. Barney Wilson said: “We are very happy that our students (Jehosheba Tijani, Ayooluwa Ogungbenro and Simisola Olusayo) made it to the list. Jehosheba Tijani and Ayooluwa Ogungbenro were awarded Top in the Country in Literature, while Simisola Olusayo got Top in the

Country in History. “Our students have always been on the list since 2016 when the award commenced, and aside from the Top in the Country awards, one of our students, Honour Olatunji, has won Top in the World for Mathematics in the past. We now have a total of 19 students who have won the Outstanding Cambridge Learner Awards in the last four years, and

we are proud of them,� he said.

The Cambridge IGCSE exam is taken by students from 14 to 16 years old and the exam is administered at the final secondary school year of various international schools in Nigeria. The Outstanding Cambridge Learner Awards is an initiative of the British Council with a primary objective of recognising best-performing students and innovative schools.

26

T H I S D AY Ëž ÍŻÍłËœ 2020A

BUSINESS/MONEYGUIDE

NAQS Moves to Regulate Trade in Donkey Skin James Emejo Ă“Ă˜ ĂŒĂ&#x;ÔË The Director General, Nigeria Agricultural Quarantine Service (NAQS), Dr. Vincent Isegbe, has said it is currently working to regularise trade in donkey skin in order to mitigate the vulnerability of Nigerian donkeys to over exploitation.

According to him, donkeys are globally recognised as an endangered species while Nigeria is a signatory to the Convention on International Trade in Endangered Species (CITES).

He said the country is therefore, obligated to institute all reasonable safeguards to protect the surviving breeds of donkeys within her borders from the possible threat of biodiversity loss and extinction. He added that the global population of donkeys had suffered a collapse over the past decade as the impact of climate change is projected to aggravate

their depletion.

He said the development had further inspired conservationist efforts to promote their welfare.

Isegbe said: “The spate of mounting demands for donkey skins has fostered a ravenous underground market for the product, resulting in a relentless open season on the donkey population. “Sensible and critical to find the sweet spot between the extremes of doctrinaire preservation of donkeys which is ideal but impracticable and the unregulated, free-for-all exploitation of the donkeys which is profligate and irresponsible. “This is a delicate balancing act that calls for the structuring and standardisation of the value chain in other to maintain and restock the national herd population of donkeys by improved breeding, ranching and other innovative ways.�

Accordingly, the NAQS boss noted that in line with the trend, the agency recently assessed the risk environment of the Nigerian donkeys and found it worrisome.

In a statement issued by Head of Media, Communications and Strategies, NAQS, Dr. Gozie Nwodo, Isegbe said NAQS had tabled its findings and recommendations on the developmental needs of donkey in 2017 before the National Council of Agriculture, the highest policymaking body on agriculture in the federation.

He explained that it was on the basis of the report that the government designated donkey skin an export prohibition list item.

Also, Head, Animal Quarantine Department, NAQS, Dr. Abidodun Akinjo, lamented that despite the prohibition, “We noticed that there were considerable donkey skin transactions afoot.�

MARKET INDICATORS

NOVA Merchant Bank’s Debut N10bn Bond Oversubscribed by 300% NOVA Merchant Bank has announced the successful issuance of its N10 billion 7-Year Subordinated Unsecured Bond under its N50 billion debt issuance programme.

The transaction which was NOVA’s first bond issuance in the debt market was oversubscribed by 300 per cent.

The offer which opened on June 30, 2020 following relevant approval from the Securities & Exchange Commission(SEC) and the Central Bank of Nigeria (CBN), closed on July 8, 2020 with a bond yield guidance of 12 percent to 12.50 percent.

In spite of volatility in markets due to COVID-19 pandemic, the transaction was highly demanded with a diversified order book made up of discerning investors including asset managers, insur-

ance companies, domestic pension funds, non-financial institution corporates, high networth individuals as well as international fund managers, a statement from the bank explained.

The lead issuing house, United Capital Plc, described the transaction as unprecedented while the joint issuing houses Stanbic IBTC Capital, UCML Capital Limited, Emerging Africa and Greenwich Trust Limited jointly stated it was a remarkable deal.

The Chairman, NOVA Merchant Bank, Mr. Phillips Oduoza expressed excitement over the success of the company’s debut issue as it places the bank on a firm footing to achieve its short-term and long-term goals.

He said, “The oversubscription of this bond offer is yet another

significant milestone in the history of the Bank and represents a vote of confidence by the investment community in the resilience of our business model. We will continue to march forward with confidence in the realisation of our strategic objectives.�

Oduoza added that the bank is well positioned to fulfil its promise to focus on providing long-term funding which is critical to the economic development of the country.

The bank’s Managing Director, Anya Duroha said, “The resounding success of this bond offer helps us achieve our goal to re-establish merchant banking as a key economic driver by providing long-term funds. It will also help us better meet the financing needs of our clients.�

LAPO MFB’s Bond OfferOversubscribed Sunday Ehigiator The Managing Director, LAPO Microfinance Bank, Dr. Godwin Ehigiamusoe has expressed delight over the successful listing of LAPO N6.2 billion bond on by the Nigerian Stock Exchange (NSE).

The offer surpassed its N6 billion target by N2 billion, despite the market uncertainties, he revealed.

In a recent statement made available to THISDAY, Ehigiamusoe said, “the bank, in its resolve

to effectively deal with paucity of funds and to ensure it meets the increasing financial needs of its growing clients base, approached the market for a second time to raise N6 billion through its bond issuance. “The bond was remarkably over-subscribed by N2 billion, an unprecedented feat, despite market uncertainties. “With excellent combination of strong corporate governance, experienced management, committed staff and extensive footprints

across the country, we are poised to continue to deliver on our core mandate of enhancing financial inclusion. “We will continue to enable the under-banked and economically active poor to become active participants in our national economy.�

The CEO of the NSE, Oscar Oyema commended LAPO for its tenacity and promised to continue to provide platforms at NSE for credible institutions such as LAPO MFB.

Green Agribusiness Fund Targets Young Agripreneurs in Nigeria and Rwanda Olawale Ajimotokan Ă“Ă˜ ĂŒĂ&#x;ÔË As part of efforts to nurture the next generation of agrarian leaders in Africa and ensure food security of the continent, the Green Agribusiness Fund has been launched in Nigeria and Rwanda.

The pilot phase of the $30,000 fund would invest in youth and agribusiness. It is spearheaded by JR Farms in collaboration with Generation Africa and the UN’s Food and Agriculture Organisation (FAO).

Six youths drawn from Nigeria and Rwanda would be provided

an equity funding of $5,000 each in support of peculiar business needs including machines, packaging materials and raw material when the selection process commences in the middle of the month.

The CEO JR Farms, Rotimi Olawale, said the motive behind the initiative is to address one of the main challenges mitigating youth from productive involvement in agriculture in Africa, including limited access to finance and business mentorship.

He said the scheme would tackle poverty, labour crisis, rural urban migration and improve

living standard in rural economies across Africa.

Olawale, noted that given that young people often do not meet the requirements to secure loans and equity, the promoters resolved to conceive GAF as a platform for young Africans to engage in agriculture as a key to transforming the continent and raising the next generation of agrarian leaders. “The Fund is designed to invest in agribusiness initiatives and companies that are deemed socially responsible in their business dealings in various parts of Africa.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

SEPTEMBER 2019 Money Supply (M3)

35,029,779.72

-- CBN Bills Held by Money Holding Sectors

7,374,356.91

Money Supply (M2)

27,655,422.82

-- Quasi Money

116,533,891.21

-- Narrow Money (M1)

11,121,531.60

---- Currency Outside Banks

1,625,047.69

---- Demand Deposits

9,496,483.91

Net Foreign Assets (NFA)

13,911,335.83

Net Domestic Assets(NDA)

21,118,443.89

-- Net Domestic Credit (NDC)

35,918,179.45

---- Credit to Government (Net)

10,452,199.38

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

11,007,422.79

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

25,465,980.07

---- Credit to Private Sector (CPS)

-14,799,735.56

--Other Assets Net

7,000,253.07

Reserve Money (Base Money

2,005,600.83

--Currency in Circulation

4,677,530.81

--Banks Reserves

317,121.43

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Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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OPEC DAILY BASKET PRICE Ëœ ÍŻÍą Í°ÍŽÍ°ÍŽ

The price of OPEC basket of thirteen crudes stood at $43.38 a barrel on Monday, compared with $43.46 the previous Friday, according to OPEC Secretariat calculations.

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

SOURCE: OPEC headquarters, Vienna

27

T H I S D AY Ëž ÍŻÍłËœ 2020A

MARKET NEWS

Transcorp Hotels Seeks to Raise N10bn from Existing Shareholders Goddy Egene Transcorp Hotels Plc has applied to the Nigerian Stock Exchange (NSE) to raise additional capital via a rights issue from existing shareholders.

Transcorp Hotels made the application through its stockbroker, United Capital Securities Limited.

Specifically, the leading hospitality group, has applied to the NSE the approval and listing of a rights issue 2,659,574,468

ordinary shares of N0.50 each at N3.76 per share on the basis of seven new ordinary shares for every 20 ordinary shares held. The qualification date for the rights issue is Monday, 13 July 2020.

Shareholders of the company had last month approved the right issue at extra-ordinary general meeting (EGM) in Lagos.

Speaking at the EGM, the Chairman of Transcorp Hotels Plc, Mr. Emmanuel Nnorom said:

P R I C E S MAIN BOARD

F O R DEALS

“This approval and endorsement of shareholders empowers the Board and management to look to the future with confidence despite the current harsh operating environment.�

Also speaking at the meeting, Managing Director/CEO of Transcorp Hotels Plc, Mrs. Dupe Olusola, said: “Our track record of excellent service delivery has positioned us as the first choice for international and local guests alike noting, we are not resting on

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

our oars but working round the clock to innovate new products and services to further delight our guests, notable of such is the launch of asset-light strategies to deepen our hospitality footprints across Africa.�

According to her, the world has been greatly impacted by the COVID-19 pandemic, with the hospitality industry being one of the hardest hit. “However, we are optimistic about a great recovery for the

T R A D E D MAIN BOARD

A S

sector and your approval today shows that you also share in this mindset. We will continue to play our part in ensuring a significant recovery to the Nigerian hospitality industry, “ Olusola said.

In the same vein, a nonexecutive director of the company, who also represents the Ministry of Finance Incorporated on the board, Mr. Alexander Adeyemi, said: “Given the challenging times the hospitality industry faces,

O F

it has become critical to inject funding into the business for a stronger balance sheet. Transcorp Hotels has maintained a history of excellent performance in the hospitality industry, and this is a bold step towards the achievement of its long term goals.�

Meanwhile, the stock market remained bearish as the NSE AllShare Index fell 0.34 per cent to close at 24,117.40, while market capitalisation shed N44.9 billion to be at N12.6 trillion.

1 0 / 0 7 / 2 0 2 0 DEALS

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28

WEDNESDAY, JULY 15, 2020 ˾ T H I S D AY

MARKET NEWS

Vetiva Foresees Pressured Consumer Wallets in Second Half of 2020 Goddy Egene

In its outlook for the second half (H2) of 2020, Vetiva Research, has said that consumer wallets would remain

pressured in the remaining part of the year. According to the Consumer Goods Analyst at Vetiva, Chinma Ukadike, “With slimmer consumer wallets amid a slowdown in the

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

broader economy and a rise in unemployment levels, demand across most consumer products is forecast to contract, with pressure particularly on luxury goods and products that are

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 13Jul-2020, unless otherwise stated.

driven by social interaction.”

She added: “Given the adjusted income earning capacity of consumers due to the pandemic and still pressured wallets, we do not see a price dynamic

favorableto fast moving consumer goods (FMCG) producers (ex-food). The limited scope for pricing adjustments available within a number of subsectors in the consumer goods sphere poses

a headwind to revenue growth in the next half year, ahead of the effect of social distancing and safety measures on consumers’ patronage of physical stores and super markets.”

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

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

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.92 0.92 1.70% ACAP Income Funds 0.78 0.78 9.63% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 6.41% AIICO Balanced Fund 2.85 2.92 15.96% info@anchoriaam.com ANCHORIA ASSET MANAGEMENT LIMITED Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 5.94% Anchoria Equity Fund 95.05 95.37 -7.23% Anchoria Fixed Income Fund 1.26 1.26 9.52% 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 14.07 14.49 -8.17% ARM Discovery Fund 333.77 343.84 -3.38% ARM Ethical Fund 30.13 31.04 3.59% ARM Money Market Fund 1.00 1.00 4.90% 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 92.35 93.00 -3.88% AXA Mansard Money Market Fund 1.00 1.00 5.01% 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 2.17 2.17 24.08% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 1.82 1.84 -6.77% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 0.06 0.04 5.95% Paramount Equity Fund 10.79 10.98 -13.82% Women's Investment Fund 107.33 108.23 -2.81% 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 5.06% Cordros Milestone Fund 2023 98.43 98.66 Cordros Milestone Fund 2028 100.56 100.79 Cordros Dollar Fund ($) 101.18 101.18 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 3.75% Coronation Balanced Fund 0.91 0.93 -1.49% Coronation Fixed Income Fund 1.54 1.54 16.08% 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 1,358.87 1,360.17 11.52% FBN Balanced Fund 147.44 148.46 0.42% FBN Halal Fund 106.85 106.87 6.85% FBN Money Market Fund 100.00 100.00 4.80% FBN Nigeria Eurobond (USD) Fund - Retail 117.44 117.96 1.19% FBN Nigeria Smart Beta Equity Fund 113.88 115.66 -12.49% 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 4.30% Legacy Debt Fund 3.78 3.78 3.54% Legacy Equity Fund 1.08 1.10 -4.30% Legacy USD Bond Fund 1.11 1.11 2.68% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,078.06 3,109.75 1.19% Coral Income Fund 3,189.19 3,189.19 3.69% FSDH Treasury Bills Fund 100.00 100.00 4.43% 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 N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A

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 4.12% Vantage Balanced Fund 2.23 2.27 1.64% Vantage Guaranteed Income Fund 1.00 1.00 8.77% Kedari Investment Fund (KIF) 146.72 147.27 2.30% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.23 1.25 5.38% Lotus Halal Fixed Income Fund 1,118.05 1,118.05 5.69% 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 1.39 1.41 13.51% PACAM Fixed Income Fund 11.98 12.04 6.32% PACAM Money Market Fund 10.00 10.00 3.40% PACAM Equity Fund 1.03 1.04 PACAM EuroBond Fund 107.02 109.38 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 111.90 114.72 -10.75% 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 1.00 1.00 5.14% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,521.35 2,532.80 -0.31% Stanbic IBTC Bond Fund 210.33 210.33 0.23% Stanbic IBTC Ethical Fund 0.88 0.89 -1.72% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 0.29% Stanbic IBTC Iman Fund 154.92 156.64 -1.60% Stanbic IBTC Money Market Fund 100.00 100.00 4.20% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 -2.67% Stanbic IBTC Dollar Fund (USD) 1.16 1.16 0.18% Stanbic IBTC Shariah Fixed Income Fund 118.18 118.18 0.00% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.13 1.15 -5.96% United Capital Bond Fund 1.83 1.83 5.63% United Capital Equity Fund 0.64 0.65 -9.52% United Capital Money Market Fund 1.00 1.00 5.12% United Capital Eurobond Fund 115.91 115.91 3.63% United Capital Wealth for Women Fund 1.06 1.07 -2.55% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 10.04 10.16 -2.29% Zenith Ethical Fund 11.55 11.60 -0.87% Zenith Income Fund 24.43 24.43 9.73% Zenith Money Market Fund 1.00 1.00 3.53%

REITS NAV Per Share

Fund Name SFS Skye Shelter Fund

Yield / T-Rtn

116.13

3.64%

53.10

2.02%

Bid Price

Offer Price

Yield / T-Rtn

8.86 82.71 65.31

8.96 84.46 66.47

1.76% -2.68% -1.07%

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

N/A N/A N/A N/A N/A N/A

N/A N/A N/A N/A N/A N/A

N/A N/A N/A N/A N/A N/A

NAV Per Share

Yield / T-Rtn

108.26

16.90%

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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NEWSXTRA

Osinbajo Advocates Measures to Prevent Corruption Omololu Ogunmade in Abuja Vice-President Yemi Osinbajo yesterday in Abuja advocated the necessity to make corrupt practices expensive ventures, noting however, that fighting the menace would continue to be difficult and hydra-headed.

The vice-president made these submissions while speaking at the Independent Corrupt Practices and Other

Related Offences Commission (ICPC) 20th anniversary Africa Regional Webinar with the theme: “Combating Corruption and Illicit Financial Flows (IFFs): New Measures and Strategies.”

Osinbajo, in his speech which was made available to journalists by his media aide, Mr. Laolu Akande, said when corruption is made expensive, it will send a clear message to those who engage in it that it does not pay off.

The vice-president who appealed to leaders of ICPC to work hard with the strong determination to succeed in the fight against corruption, pointed out that the commission had a responsibility to make the scourge unattractive and simultaneously come up with a new approach to tackling IFFs. He also tasked the commission

to come up with what he described as concrete proposals to be presented at the United Nations General Assembly (UNGA) special session on corruption next year.

The vice-president said by so doing, policy would be shaped in a way that the interest of Nigeria and the entire the West Africa sub-region would be promoted.

“Let me conclude by saying

there is no magic bullet to ending corruption, stemming IFFs or promoting asset recovery and return. We simply must work hard at it and be determined to succeed. We must make corruption expensive for those who engage in it and send the unequivocal message that corruption simply does not pay.

“We must also make all

members of the international community see the benefit of shared prosperity and inclusive growth and development. It is the unenviable but noble task of ICPC and other anti-corruption agencies to make corruption unattractive to its disciples and facilitate new approaches to stemming IFFS and promoting asset recovery and return.

Sagay Urges Buhari to Sack NDDC Board Members The Chairman of the Presidential Advisory Committee Against Corruption (PACAC), Professor Itse Sagay, has asked President Muhammadu Buhari to remove all the board members of the Niger Delta Development Commission (NDDC).

He made this call yesterday during an interview on Channels Television’s Politics Today.

Sagay also wants his principal to inject fresh members into the board in view of the allegations of corruption rocking the commission.

“I will suggest that everybody there should be cleared out and the President should not appoint a new set of people very quickly under temporary conditions so that a permanent board and management can be established in the place that will then be monitored.

“My view is that everybody should be removed right now.

Clear the place, sweep it clean.

Start afresh with a new set of people,” he said.

While describing the corruption allegations as mind-boggling,

Sagay wondered why forensic auditing cannot be done despite having a regular board manning the affairs of the commission.

The professor recalled that when some appointments were made into the commission, he was against the character of two nominees then.

He regretted that the question mark posed on some members of the NDDC has given a bad impression about the Niger Delta region.

This comes shortly after the 2019 budget defence of the NDDC by the agency’s Interim Management Committee (IMC) suffered a setback.

The NDDC team comprising its acting Managing Director, Professor Kemebradikumo Pondei, Executive Director (Project), Dr. Cairo Ojougboh, among appeared before the National Assembly in Abuja to defend the agency’s budget for the previous year.

They, however, could not successfully defend the agency’s budget as the lawmakers pointed out some discrepancies in the budget.

US Court Denies Hushpuppi Bail United States’ court yesterday rejected bail application by suspected Nigerian internet fraudster, Ramon Abbas, known online as ‘Hushpuppi’.

Forbes reported that the Billionaire Gucci Master was told by a judge on Monday in Chicago that he will remain detained until his trial later this year over money laundering allegations.

Appearing at a detention hearing, a court in the Northern District of Illinois ruled that Abbas will be transported to Los Angeles by the US Marshals Service, and will not be allowed to stay with his girlfriend’s uncle in Homewood, Illinois.

His trial is slated to be held in Los Angeles where the case was filed, rather from Chicago where the investigation is being handled.

Throughout the hearing Abbas’s lawyer denied that his client was a flight risk or a danger to the community, repeatedly rejecting the allegations made against his client by the FBI’s affidavit posted earlier this month.

The primary allegation leveled by the FBI is that Abbas was part of a network that made “hundreds of millions of dollars” from business email compromise

frauds and other scams.

Assistant United States Attorney Melody Wells, a prosecutor in the Chicago district attorney’s office, convinced the court that Abbas is a flight risk, describing his “significant” financial assets, “deep ties to foreign countries” and a lack of ties to the United States.

Wells said Abbas had the “perfect recipe to flee the charges that he faces here.”

Abbas has sought to live with a girlfriend’s relative in Illinois, but this was queried by the prosecutor, arguing that Abbas had up to this point “never visited” the girlfriend or their child in the United States.

“There is no evidence that he has ever even met this ‘Uncle’ who would be the third party custodian under these circumstances,” Wells said.

The court ruled that there was “more than enough justification to order that the US Marshall bring Abbas to California as soon as possible to answer the complaint there.”

Ruling that Abbas had “A great incentive not to continue to respond to these proceedings here,” as he is “facing a long sentence.”

GIVING BACK TO SOCIETY...

L-R: Lagos State Governor, Mr. Babajide Sanwo-Olu; Commissioner for Health, Prof. Akin Abayomi; Chief Operating Officer of IHS Nigeria Limited, Mr. Giscard El-Zoghbi; and Chief Executive Officer, Page International Financial Services Limited, Mr. Segun Akintemi, during the inauguration of a state-of-the-art 36-chamber Morgue, donated by IHS at the Infectious Disease Hospital, Yaba...yesterday

Relief as Okowa, Wife, Daughter Test Negative for COVID-19 Omon-Julius Onabu in Asaba Delta State Governor, Dr. Ifeanyi Okowa, his wife, Edith, and their daughter have all tested negative to the coronavirus disease, and have been subsequently discharged.

The formal discharge of the Okowas came barely 48 hours after the announcement made by the Secretary to the State Government (SSG), Mr. Chiedu

Ebie, who was alongside the Information Commissioner, Mr. Charles Aniagwu, admitted into the COVID-19 isolation and treatment centre in Asaba three weeks earlier.

The news of the state first family testing negative for the virus was broken yesterday in Asaba in a statement issued by the Chief Press Secretary (CPS) to the governor, Mr. Olisa Ifeajika.

Okowa had on July 1, 2020,

personally told the world via his Twitter handle that he and his wife had both tested positive for the global pandemic few days after their daughter did, saying they had therefore gone into isolation for the necessary medical treatment.

However, the statement by the CPS said the governor thanked God Almighty, Deltans and others for praying for their quick recovery even as

he appealed to the people to abide by the directives and regulations from the relevant authorities on COVID-19 in order to check the spread of the virus in the state.

“The governor appealed to all residents to obey all instructions and regulations targeted at combating and stemming the transmission of the COVID-19 in the state,” Ifeajika stated.

AbdulRazaq Invites EFCC, Sets up Panel to Probe LG Funds Kwara State Governor, AbdulRahman AbdulRazaq, has invited the Economic and Financial Crimes Commission (EFCC) to conduct an independent probe into funds so far received and disbursed to the 16 local government areas between May 2019 and now.

A panel of inquiry comprising members from various backgrounds will also be set up to look into the local governments

funds, according to a statement issued by the governor’s spokesman, Rafiu Ajakaye.

“For the sake of accountability and transparency, the governor is hereby calling in the EFCC to conduct urgent probe into funds so far received as allocations and spent by the 16 local government areas between May 29, 2019, and now,” the statement said.

It added: “Separately, the governor will also set up a panel

of inquiry to look into the same issues. Members of the panel and its terms of reference would be announced soon.

“This probe is borne out of the fact that this administration has not touched a kobo belonging to the local government areas. It has nothing to hide. But for abundance of caution, the governor will be tasking not just the EFCC but also a panel of inquiry with members drawn from various backgrounds

to investigate the LGA funds; how they have been spent, and expose any mismanagement or diversion of the funds (if any).

“The call became necessary in view of the outrageous claims by some persons that money to the tune of N300million was diverted monthly from LGA accounts.

“The administration feels this deserves to be probed and laid to rest because governance is about public trust.

Obaseki Holds Virtual Meeting with Buhari APC govs, party leaders’ meeting postponed till tomorrow Adedayo Akinwale inAbuja Edo State Governor, Mr. Godwin Obaseki on Monday held a virtual meeting with President Muhammadu Buhari.

This is coming as the meeting between governors elected under the platform of the All Progressives Congress (APC), leaders of the party and the Edo State governorship candidate, Mr. Osagie Ize-Iyamu, billed for yesterday has been

postponed till tomorrow.

The governor made this known after the meeting with Buhari and likened his relationship with the President as that of a son to a father.

Obaseki said he and the President engaged on development issues affecting the people of the state including the case management of the coronavirus pandemic.

“My relationship with President Muhammadu Buhari is that of a father and son. I was on a zoom

meeting with the President, during which we engaged on development issues affecting Edo people and Nigerians. We also discussed measures to manage the spread of COVID-19,” he wrote on Facebook with some photos of the meeting.

The governor did not disclose whether the politics of the day was discussed with the President.

Meanwhile, the meeting between the APC governors, leaders of the party and the Edo State

governorship candidate, Ize-Iyamu, billed for yesterday has been postponed till tomorrow.

THISDAY had reported that the chairman of Progressives Governors’ Forum and Governor of Kebbi State, Atiku Bagudu; the Chairman of Nigerian Governors Forum and Governor of Ekiti State, Dr. Kayode Fayemi and his counterpart from Kaduna State, Mallam Nasir el-Rufai, were deeply involved in the strategic meeting.

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FG to Reopen Enugu Airport on August 30 Kasim Sumaina in Abuja The Minister of Aviation, Senator Hadi Sirika, on Thursday said that the Akanu Ibiam International Airport, Enugu, would be reopened on August 30, 2020.

Sirika stated that the airport has attained 95 percent completion after inspecting the work done so far at the airport.

He said in a video message sent through the Director, Public Affairs of the Ministry of

Aviation to journalists in Abuja that government recognised the importance of the airport to the whole of the South East region and the hardship occasioned by its closure.

The reopening of the airport, which was closed down last August for rehabilitation work, was initially billed to take place before Easter 2020 but had to be changed because of the outbreak

of COVID-19 pandemic disease.

The minister commended the Enugu State Government and the Southeast’s governors for their corporation and stated that the newly built runway is one of the

best in the country at the moment.

He said: “It would be noted that the present administration met the terminal project at about 20 percent but had taken it to about 60 percent completion stage.”

APC will Reclaim Edo, Sylva Vows Party youths begin inspection of projects in states Adedayo Akinwale in Abuja The Minister of Petroleum and the Chairman of Contact and Mobilisation Committee of the All Progressives Congress (APC) national campaign council of the Edo State governorship election, Mr. Timipre Sylva, has vowed that the ruling party would win the forthcoming election in the state.

Sylva stated this yesterday after the inaugural meeting of the committee held at the national secretariat of the party in Abuja.

He said nobody should entertain any fear because Edo State would become an APC state soon.

The minister stressed that every member of the party from the South-south has reached a consensus that the state being the only state the party has in the zone would be reclaimed.

Sylva stated: “You are very correct that all of us in the Southsouth region believe that this election must be won. Edo is our only APC state in the region. A few months ago, you are all aware that they took Bayelsa State from us after we won the election from the back-door.

And now, through the back door again, they have taken Edo State.

“But luckily, we have the opportunity of reclaiming Edo State in a few weeks from now, and every South-south APC member is of the consensus that we must reclaim APC, because that is our toll-hold in the region and therefore we are all geared up.

“We will all go to Edo State,

with the assurance that you should not entertain any fear or doubt that Edo will be an APC state very soon in the next election.”

Asked if the party can match the incumbent governor financially to be able to win the election, the minister said: “Election is not all about finance. First if you say the power of incumbency, it is an APC incumbency that has been stolen by the PDP. We are in touch with our people in Edo State, and we know that we are the dominant party in the state and we are going to win this election.”

Meanwhile, the National Youth Leadership of APC has commenced projects inspection in APC controlled states, even as it commended the Ondo State Governor, Mr. RotimiAkeredolu, over the developmental projects he has executed in the state.

The youths, made up of the Deputy National Youth Leader, Hon. Afeez Bolaji Repete, and all the zonal youth leaders also called on the APC governors for their support in the states’ tour.

Repete stated: “As youth leaders of our party, APC, we have just visited the Ondo State to access the present achievements of the governor. We are impressed with what we saw as developmental projects.

“We are using the opportunity to call on other states governors to give us the necessary support as we intend to embark on project inspection in all the APC controlled states.”

Ohanaeze, IPOB Agree to Work Together David-Chyddy Eleke in Awka Pan Igbo socio-cultural group, Ohanaeze Ndigbo, and the separatist Igbo group, Indigenous People of Biafra (IPOB) have mended fence with a promise to work together for the common good of the Igbo people.

Both groups met yesterday at the home of the first Republic Aviation Minister, Chief Mbazuluike Amechi, in Ukpor, Nnewi South Local Government Area of Anambra State.

Both groups have been at logger head recently, with the leader of IPOB, Nnamdi Kanu, calling on his members to attack the leader of Ohanaeze Ndigbo, Dr Nnia Nwodo, anywhere he was seen.

But Amechi, who met with the group, described the rivalry as unnecessary as they were both working for the good of the Igbo people.

“I summoned the two bodies to express my displeasure with what I have been reading in the newspapers about Kanu giving orders for the stoning of Chief Nwodo.

“I’m happy that even before this peace meeting, Kanu has retracted the statement. We, therefore, appeal to Nwodo to accept the retraction and get it off his mind as IPOB has agreed to work with them.

“The two bodies must realise that it is the same battle they are fighting, which is marginalisation, killings and denial of federal government to develop Southeast and Igbo land in general,” he stated.

IPOB, represented by Aloy Ejimakor, counsel to Kanu, said he was at the meeting with the blessings and instructions of his client, just as he thanked Amaechi, who he said was not a stranger to what he was doing having been once declared a terrorist.

Also, speaking on behalf of Ohanaeze Ndigbo, the Anambra State President of the body, Chief Damian Okeke-Ogene, said the body endorsed all that were contained in the communique.

He said: “Those who thought our fences are fallen will know that the fences are much stronger than they thought.”

FEAR OF PANDEMIC...

Ekiti State Governor, Dr. Kayode Fayemi (left), pioneer Assistant Inspector General of Police (AIG), Zone 17, Mr. David Folawiyo, during the AIG’s courtesy visit to the governor in Ado-Ekiti…yesterday

House to Investigate $500m Extra Budgetary Spending Adedayo Akinwale and Udora Orizu in Abuja The House of Representatives yesterday resolved to investigate the Federal Ministry of Finance and the Central Bank of Nigeria (CBN) for engaging in extra budgetary spending of over $500 million from Nigeria Export Supervision Scheme Fund.

The House is also to investigate the CBN and the Ministry of Finance over another extrabudgetary spending of about N700 billion from the same fund in contravention of Section 80 of the

constitution which stipulates that such funds must be appropriated before being utilised.

It also directed its Committee on Public Account to carry out the investigation and report back to the House within four weeks.

These resolutions were sequel to the adoption of a motion of urgent public importance titled: ‘On the need for urgent investigation and audit of the Nigeria Export Supervision Scheme Fund in view of the joint rendition of account to the Auditor General of the Federation by the Ministry of Finance’, sponsored by Hon.

Abdullahi Sa’ad Abdulkadir.

Moving the motion, Abdulkadir explained that the Pre-shipment Inspection of Export Act of 1966 requires that prior to the export of any goods from Nigeria, it must be inspected by an inspection agent, which in turn is required to issue, where appropriate, a Clean Certificate of inspection to the overseas buyer of the goods.

He said both oil and non-oil export are liable to pre-shipment inspection in respect of their quality, quantity and price while the inspection agent is required to issue to the exporter a Provisional

Certificate of inspection.

The lawmaker also said upon loading of the goods and conduct of a final inspection, where the goods satisfy the required thresholds as to quantity, quality and price, the inspection agent will issue a Clean Certificate of inspection.

He further said the inspection agent is obligated to furnish weekly reports of successfully conducted pre-shipment inspection to the Federal Ministry of Finance, Federal Ministry of Commerce (now Federal Ministry of Trade and Investment) and the CBN.

Court Adjourns Alleged N700m Money Laundering Suit against Ize-Iyamu, Others Adibe Emenyonu in Benin-city The Federal High Court in Benincity, Edo State, has adjourned till October 15, 2020, the N700 million money laundering suit filed by the Economic and Financial Crimes Commission (EFCC) against five Peoples Democratic Party (PDP) chieftains, including candidate of the All Progressives Congress (APC), Pastor Osagie Ize-Iyamu.

Others involved in the suit are former Edo State PDP Chairman, Chief Dan Orbih; incumbent Chairman of the state PDP, Dr. Tony Aziegbemi; former Deputy

Governor of Edo State, Mr. Lucky Imasuen, and one Efe Anthony.

The alleged crime was committed during the 2015 presidential election.

The court had on June 18, 2020, validated the corruption charges against the defendants, but the case suffered a setback on July 7 following the inability of the first defendant (Pastor Osagie Ize-Iyamu) to appear in court because of health issues.

However, as early as 9:30a.m, yesterday, Ize-Iyamu was already seated in court with counsel to all the parties in the case who

earlier filed a preliminary objection challenging the jurisdiction of the court to hear the suit.

When the case came up for hearing yesterday, the EFCC prosecution counsel, Ahmed Imoovba, pleaded with the court through a motion seeking an extension of time to file their reply to the objection.

The presiding judge, Justice Umar Garba, having listened careful to the various counsel, asked them to file whatever they have to file within seven days as the court will soon embark on vacation, and adjourned the case

to October 15, 2020, for further hearings.

Recall that the EFCC in suit no: FHC/BE21C/ 2016 had filed an eight-count charge against the accused persons on alleged illegal receipt of public funds to the tune of N700 million for the purpose of the 2015 general election.

The EFCC further accused the defendants of conspiring among themselves to commit the offence in March 2015, alleging that they took possession and control of the funds without any contract award.

Gbajabiamila Cautions FCC Chairman against Playing Politics Adedayo Akinwale in Abuja The Speaker of the House of Representatives, Hon. Femi Gbajabiamila, has warned the Chairman of the Federal Character Commission (FCC), Dr. Muheeba Dankaka, to stay off politics in all her dealings, describing it as a very “sensitive office.”

The Speaker gave the warning yesterday in Abuja when he hosted the chairman of the FCC and her

commissioners during a courtesy call in his office.

Gbajabiamila said though her being in office could be termed a political appointment, it was imperative for the chairman to be firm and not play politics with her office.

He said the office of the chairman and the commission has the “imprimatur of the constitution,” hence her job is constitutional.

According to Gbajabiamila,“The

reason why I emphasised that you hold a very sensitive office is in the sense that it is one of those offices that have the constitutional imprimatur.You derive your powers from the constitution. It is stated there very clearly.

“That’s why it’s important; that’s why it’s sensitive, and it’s also very delicate because it has the potential of determining how unified we are as a country-from the East, West, North and South.”

The Speaker stressed that everyone knows what federal character means, adding that in Nigeria today, one of the major issues is how balanced the people are represented.

He said: “Even though yours can be considered as a political appointment, you must not play politics with this job. It’s a very important one. It’s one of those commissions that many people don’t realise its significance.”

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NDDC Probe: No Harm Should Befall Our Daughter, Rivers Warns Ernest Chinwo in Port Harcourt Following the face-off between the Minister of the Niger Delta Affairs, Senator Godswill Akpabio and a former acting Managing Director of the Niger Delta Development Commission (NDDC), Dr. Joy Nunieh, the Rivers State Government yesterday warned that it would not tolerate any harm coming the way of the ex-NDDC boss, who is an indigene of the state.

The state government called on forces behind the ongoing probe of the commission to ensure the security of Nunieh.

Nunieh had accused Akpabio of illegalities, including directing her to pad the agency’s budget.

She also alleged that the minister influenced her removal from office because she refused to do his bidding When she featured on ARISE News Channel on Monday, she also alleged that Akpabio sexually harassed her.

But in a statement signed by the state Commissioner for Information and Communications, Mr. Paulinus Nsirim, the state government disclosed that the state is solidly behind her.

Nsirim, however, said the government would never support any action capable of jeopardising the laudable intentions of President Muhammadu Buhari to reposition the commission for optimum performance.

The statement said: “Rivers State Government has viewed with concern, the recent developments at the NDDC in which the name of our daughter, Dr. Joy Nunieh, the immediate past Acting Managing Director of the commission, has been dragged into.

“We hereby call on those involved in the ongoing investigations in the NDDC to ensure that Dr. Joy Nunieh does not suffer any harm in the course of their undertakings.

“We wish to state categorically that the Rivers State Government will never support any action

Over 200 Lagos Doctors Infected With COVID-19, Says Guild The Medical Guild, an association of doctors under the employment of the Lagos state government, has stated that more than 200 doctors involved in the fight against COVID-19, have tested positive for the disease.

In a statement issued yesterday by the Chairman, Dr. Oluwajimi Sodipo and the Secretary of the guild, Dr. Ismail Ajibowo, the doctors charged the state government to be more committed to the welfare of health workers, especially those treating COVID-19 patients.

The guild, however, accused Lagos government of painting its members in a bad light over a The association advised ministries and agencies of Lagos government “to imbibe spirit of engagement and negotiation to enable people of Lagos to enjoy uninterrupted healthcare services”.

It said since its inception in 1926, the guild has been at the forefront of innovative strides and collaborative efforts with the government on issues of health sector development and progress.

“The Guild attempted all within its powers to prevent the strike. We started by drawing the attention of the state government to the fact that more than 200 medical doctors, who are members of the Guild, have been infected with COVID-19,” the statement read.

“Many of them also infected their families with attendant short and long term complications. This is a testament to our desire to serve our patients and our calling.

“The Guild had also been at the forefront of advocating for priority testing for all healthcare workers and patients on admission in hospitals so as to upscale provision of safe medical services.

“These suggestions had been largely jettisoned until the declaration of strike.”

On issues raised about the wages, salaries and emoluments, the guild leaders said they were happy that the government agreed that their federal counterparts in the same state earn much more than doctors working with Lagos government.

FG Directs MDAs to Create Isolation Centres in offices The federal government has directed Ministries, Departments and Agencies (MDAs) to create isolation centres in offices as part of additional steps to curtail the spread of COVID-19.

According to the guidelines released by the Office of Head of Service of the Federation (HoS), the isolation centres in offices are meant for those who fall sick during working hours.

The regulations were contained in a document titled: ‘Guidelines on the control of COVID-19 service wide’, prepared by the Office of the Head of Service of the Federation.

The office said the guidelines were compiled out of the need to reduce the impact of the pandemic on government businesses and the public by controlling the spread of the disease in all the MDAs.

It added that the guidelines were developed to complement the efforts of the Federal Government through the Presidential Task Force on COVID-19.

The document recommended that MDAs should “designate holding area(s) with closable doors, which will serve as isolation room(s) until potentially sick people can be safely moved from the workplace to the health facility.”

It also asked the MDAs to “discourage workers from sharing work tools, equipment and items like computers, phones etc.”

It further recommended frequent cleaning and disinfection of work surfaces, asking that close attention should be paid to high-contact objects like door handles, hand rails, elevator buttons, keyboards, tools, toilets and sinks, among others.

that will prevent or jeopardise the laudable intentions of His Excellency, President Muhammadu Buhari, to positively reposition the NDDC and fulfill the yearnings and aspirations of the people of

the Niger Delta.

“However, we wish to state that while we are not interested in identifying with the present unfolding drama in the NDDC, we will not however fail to protect

our daughter from actual harm or perceived danger.

“The state owes it as a duty to protect her citizens from danger no matter their political affiliation and we cannot fold our hands

and watch anyone harm her or indeed any Rivers citizen. We advise those involved in the present altercations in the NDDC to thread with caution in their actions and utterances.”

WORTHY HONOURS...

L-R: Chairman, Planning Committee, 2020 First Mega Microfinance Credit Award ceremony of the District 9110, Rotary International, Mrs. Oluranti Ojuroye; newly installed 2020/2021 District 9110 Governor, Mr. Bola Oyebade; President, Rotary Club of Lagos Central, District 9110, Mr. Segun Oluyemo; and a former District 9110 Treasurer, Rotary International, Mr. Gabriel Oyeama, at the presentation of the first mega microfinance credit awards to the beneficiaries by the District 9110, Rotary International, at its Ikeja GRA, Lagos office... recently

54-year-old Pastor Defiles Teenager in Ogun A 59-year-old pastor of Light Christian Church in the Odeda Local Government Area of Ogun State, Oketokun Abiodun, has been arrested by men of the Ogun State Police Command for allegedly defiling a 10-year-old girl.

The pastor reportedly lured the victim to his room and had unlawful carnal knowledge of her.

The state Police Public Relations Officer, Abimbola Oyeyemi, in a

statement, said the suspect was arrested on Saturday.

He said, “The pastor was arrested following a report by the father of the victim, who reported at the Odeda Police Station.

“The complainant said the pastor saw his daughter playing with other children and called her to go and bring a key for him in his room.

“While the innocent girl was going into the room, the pastor followed her,

pushed her to the bed, covered her mouth with his hands and forcefully had carnal knowledge of her.

“Upon the report, the DPO Odeda division, CSPAjayi Williams, detailed his detectives to the scene where the randy pastor was promptly arrested.”

According to the police spokesman, the pastor confessed to the crime during interrogation and was subsequently detained.

He added that the victim was

taken to the General Hospital, Odeda, for medical attention.

Oyeyemi said the state Commissioner of Police, Kenneth Ebrimson, had ordered the transfer of the suspect to the Anti-Human Trafficking and Child Labour Unit of the State Criminal Investigation and Intelligence Department for further investigation and prosecution.

Ekweremadu Heads Ondo PDP Local Govt Congress Panel ChuksOkochainAbuja Amid complaints of allegedly inflating the ad-hoc delegate list with ‘fake’ delegates, the Peoples Democratic Party (PDP) has constituted Local Government Congress Electoral Committee for the Ondo State governorship primaries.

PDP National Organising Secretary, Col. Austin Akobundu (rtd), said in a statement in Abuja yesterday

that the committee would be chaired by former Deputy President of the Senate, Ike Ekweremadu.

Akobundu added that the National Working Committee (NWC) of the party has also approved the appointment of Dr Bolanle Ogundiran, Alhaji Akhor Idoko, and Senator Obinna Ogba as members of the committee, while Alhaji Aminu Yakudima will serve as the secretary.

According to him, “The

committee is mandated to elect one national delegate and one representative from Persons Living with Disabilities (PLD) in each of the 18 local government councils for the governorship election in Ondo State.

Meanwhile, the storm generated by stakeholders in the state PDP continued as they rejected a delegates’ list for the proposed July 22 governorship primary election believed to have been doctored by

one of the aspirants.

The delegate list is fundamental to the July 22 governorship primary election as it forms the bases of the delegates to vote at the primary election.

The list, which was rejected by the Clement Faboyede-led Caretaker Committee, party elders and seven governorship aspirants, had reportedly featured 101 strange names in the line-up of party delegates.

Lagos Monarch Asks Landlords to Submit Documents forVerification The new Oniru of Iruland in Lagos State, Oba Omogbolahan Lawal, has directed landlords in his domain to submit their title documents to the royal family and its estate consultants for verification.

The three ruling houses of Akiogun, Abisogun and Ogunyemi gave this directive in a public notice issued on behalf of the Oniru royal family, on Monday The notice was jointly signed

by Prince Kabir Oniru (Akiogun

ruling house), Chief Wasiu Ogunbambi (Abisogun ruling house) and Prince Raheem Ayinde (Ogunyemi ruling house).

The statement followed an advertorial by some Oniru residents, who accused the new monarch of deploying thugs in the area to forcefully take over some parcels of land belonging to private individuals.

In the public notice, the royal families said: “It is not true that since the selection, installation

and receipt of the staff of office from the Governor of Lagos State, Mr. Babajide Sanwo-Olu, by Oba Abdul-Wasiu Omogbolahan Lawal, on behalf of the Oniru royal family as the Oniru of Iruland, there has been an invasion of Iruland by thugs and hooligans to forcefully take over land belonging to private persons.

“Rather, we are aware that a transition process of change of management of the Oniru royal family land and property has demanded certain land and

property owners to submit their title documents to the family and kabiyesi’s solicitors and estate consultants for verification.

These persons concerned have visited our solicitors and have been received warmly.”

According to the statement, the monarch decided to embark on the verification because most of the property in Iru was sold by third parties and there was a need to do some rebranding and new developments in the area.

NBS: COVID-19 Worsens Food Insecurity in Nigeria James Emejo in Abuja Food insecurity in the country has substantially worsened since the spread of the COVID-19 pandemic, a new report by the National Bureau of Statistics (NBS), has revealed.

It said 77 per cent of households have reported moderate or severe food insecurity in June, which was about three times higher than in

July/August 2018 and nearly six times higher than in January/ February 2019.

According to the June 2020 edition of the COVID-19 National Longitudinal Phone Survey (COVID-19 NLPS) report, published yesterday by the statistical agency, about 30 per cent of households interviewed within the review month experienced severe food insecurity due to lack of money

or other resources.

Moreover, it stated that about 38 per cent of households that engaged in agriculture reported having to modify their farming plans due to COVID-19, while 52 per cent reported reducing the area they planted, 30 per cent planted crops that take less time to mature while 25 per cent reported delaying planting time.

The report further noted that there

had been no significant improvement in safety nets or other sources of income assistance from institutions or remittances for households.

Specifically, the NBS stressed that there was virtually no change in the provision of safety nets in the review period as 13 per cent of households received food assistance, while two per cent of households reported to have received a direct cash transfer.

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Major Shake-up as Army Redeploys 36 Generals Kingsley Nwezeh in Abuja Nigerian Army Headquarters yesterday announced the redeployment of 36 generals and General Officers Commanding (GOCs).

Other senior officers in the rank of Brigadier-General and Colonel were also affected in a major shake-up that had become a regular feature under the administration of the Chief of Army Staff, Lt. General Tukur Buratai and other military service chiefs.

A statement issued by the Director of Army Public Relations, Col. Sagir Musa, said the new postings and appointments were designed to rekindle the spirit of professionalism.

He said the posting, which was approved by Buratai was “a routine, normal exercise intended to reinvigorate the system for greater professional effectiveness and efficiency”.

The highlights of the postings showed that Major General Lucky Irabor was moved from the Defence Headquarters (DHQ), Abuja Department of Training and Operations to Training and Doctrine Command, Minna as Commander.

Major General FO Agugo from 6 Division Nigerian Army, Port Harcourt redeployed to Headquarters NA Signal Corps, Apapa Lagos as Corps Commander Signals while Major General M Mohammed was moved from Headquarters NA Signal Corps Apapa Lagos to Office of the COAS and appointed Special Adviser,

Nigerian Army University, Biu. Others include Major General AM Dikko from Administrative Staff College of Nigeria, Badagry Lagos to NA Training Centre Kontagora and appointed Commander; Major General US Yakubu from NA Corps of Artillery Kontagora to Army Headquarters, Abuja (AHQ), as Chief of Administration (Army); Major General BO Sawyer from AHQ Department of Policy and Plans to NA Armour School in Bauchi as Commandant; Major General IO Uzamere from NA College of Logistics in Lagos now redeployed to AHQ Abuja, Department of Logistics, as Chief of Logistics (Army).

Also, Major General JO Irefin from Headquarters 81 Division, Lagos to Headquarters 6 Division Port Harcourt as General Officer Commanding (GOC), while Major General JO Akomolafe was redeployed from Headquarters NA Armour Corps in Bauchi to DHQ in Abuja as Chief of Defence Standards and Evaluation.

Others senior officers affected in the shake-up are: Major General CO Ude from NA Resource Centre in Abuja to Defence Headquarters, as Chief of Defence Training and Operations; Major General HR Momoh from Defence Space Administration in Abuja to AHQ Department of Policy and Plans, as Deputy Chief of Policy and Plans/ Director Special Duties; Major General AT Hamman from DHQ to AHQ Garrison and appointed Commander; Major General OA

Akinyemi from Administrative Staff College of Nigeria was moved to Nigerian Armed Forces Resettlement Centre, Oshodi in Lagos as Deputy Commandant, while Major General MH Magaji was redeployed from NA Amour School to Headquarters NA Armour Corps and appointed Commander.

The new postings showed that Major General MA Masanawa

was redeployed from Defence Headquarters to NA Ordinance School Lagos as Commandant even as Major General JI Unuigbe from AHQ Department of Logistics was posted to DHQ as Chief of Defence Logistics.

Others are Major General JGK Myam - the erstwhile Commander of AHQ Garrison in Abuja was named Commander of NA Corps of Artillery.

Major General GA Umelo was redeployed from AHQ Department of Training and Operations to Headquarters 81 Division and appointed General Officer Commanding; Major General SE Udounwa from AHQ Department of Policy and Plans to Army War College Abuja as Commandant; Major General MO Enendu from Nigerian Armed Forces Resettlement

Centre to NA College of Logistics and appointed Commandant; Major General GS Abdullahi from DHQ to Land Forces Simulation Centre Nigeria and appointed Director General and Major General BN Salami from NA School of Supply and Transport redeployed to Headquarters NA Corps of Supply and Transport as Commander.

FG Approves Fifth Evacuation Flight for Stranded Nigerians in US 590 evacuees depart UK

Adedayo Akinwale in Abuja The federal government has announced that it has approved the fifth evacuation flight that would bring home stranded Nigerians in the United States.

This was coming as 590 Nigerian evacuees have departed Gatwick North Terminal, United Kingdom on Air Partner UK. A statement that was issued by the Consulate General of Nigeria in Atlanta on Monday, which was made available to journalists yesterday, said that the Ethiopian Airline flight N0.

547, is scheduled to depart George Bush International Airport, Houston, Texas, on Friday by 16:00hrs to arrive Murtala Mohammad International Airport, Lagos, on Saturday by 20:00hrs It stated: “The Consulate General of the Federal Republic

of Nigeria, Atlanta. Georgia, in collaboration with other Nigeria Missions in the United States of America is pleased to announce that the Federal Government of Nigeria has approved 5th Evacuation flight for stranded Nigerians in the U.SA. “In this regard, all prospective evacuees duly registered with any of the three Nigerian missions in the USA can purchase their one-way tickets through www.ethiopianairlines. com. The airfare is $1500 for the economy class and $3,000 for the business class for adult/child fare, including all taxes, with the usual percentage reduction for infants under two years.”

The consulate noted that prospective evacuees, who purchased tickets, should forward

a copy of their evacuation ticket, together with the name, phone number and contact address of their next of kin in Nigeria to info@nigeria-Consulate-atl.org.

The Consulate emphasised that the sale of tickets would be on a ‘first come, first served’ basis.

It demanded that all prospective evacuees must present an original COVID-19 negative test result, not older than 14 days on the day of departure at the Airport and undergo three temperature check 4hrs before departure in accordance with the Nigerian Presidential Task Force (PTF) on COVID-19.

It said: “Any intending evacuee without the stipulated test result or a body temperature

above 38 degrees centigrade, or any symptoms suggestive of COVID-19, will not be allowed to check in.”

The consulate noted that, all prospective evacuees are required to wear face masks while on board and be in possession of a hand sanitiser for intermittent use throughout the duration of the journey.

In addition, prospective evacuees were further enjoined to adhere strictly to all instructions of Port Health Services (PHS) officials and observe other entry screening protocols on arrival in Nigeria.

Meanwhile, the Minister of Foreign Affairs, Mr. Geoffrey Onyeama, yesterday said that 590 Nigerian evacuees have departed Gatwick North Terminal, UK, on Air Partner UK.

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Akpabio Promises to Sanitise NDDC Iyobosa Uwugiaren in Abuja The Minister of Niger Delta, Senator Godswill Akpabio has promised to change the negative narrative of the Niger Delta Development Commission (NDDC) under his ministry, saying he has always asked God to give him the opportunity to make huge impact in the Niger Delta region.

The minister said that he wanted to see a Niger Delta region where employment opportunities

are created for the people and huge infrastructure developed.

“Like I have always said that if God gave me the opportunity, I would change the narratives, and now, God has given me the opportunity; I listen to what people were saying.

“As the Minister of the Niger Delta, I want to see a Niger Delta region where employment opportunities are created for the people. I want to see major bridges connecting from Okirika

to Yenagoa. I want to see Niger Delta Development Commission (NDDC) specialists’ hospital,’’, Akpabio told journalists in Abuja.

The former Senate Minority Leader added that he is committed to those objectives of the ministry and is working towards achieving them.

He, however, added that he could not achieve all these if the only parastatal under his ministry still remained the way it was perceived.

According to him, “I know as a governor, I didn’t like NDDC, I know as the Minority Leader in the Senate, I did not like the

supply hospital equipment to hospitals that they do not need.

“They started three specialists’ hospitals - one in Port Harcourt, one in Ondo and up till now, they have not completed them. I like to see an NDDC that has its international headquarters where people can come and negotiate.’’

NDDC because of the most things that were going on there.

“The major projects there are not the projects that can turn the life of the people around. They believed in the projects that would put money in their pockets. They are more interested in retreats, training and re-training. They

Nigeria’s Envoy, Itegboje Emerges Interim President of UNGA Special Session Adedayo Akinwale inAbuja The United Nations has appointed Nigerian envoy, Samson Itegboje, as the Interim President for the UN General Assembly’s Special Session on the coronavirus pandemic.

A special session of the UN General Assembly is a mini General Assembly called to deal with special matters, and in this case, the COVID-19 pandemic.

The UN Charter provides for the General Assembly to meet in special sessions. ‘Special sessions shall be convoked by the Secretary-General at the request of the Security Council or of a majority of the members of the United Nations’.

Itegboje, who is the Charge d’Affaires of the Permanent Representative of Nigeria to the United Nations, was mandated in his capacity as the Interim President

to put the modalities in place to convene the 31st Special Session of the General Assembly.

The convening of the 31st Special Session followed a request by Azerbaijan, on behalf of the member states of the Non-Aligned Movement Contact Group Meeting in response to COVID-19, which was hosted in May 2020 by Azerbaijan.

The UN Secretary-General,Antonio Guterres, consequently informed the member states of the decision to convoke the 31st Special Session after more than two-thirds majority had concurred.

Itegboje, in a letter to the member states, noted that the General Assembly would have to decide on modalities for substantive discussions on the topic of the special session, including its date and any other matters concerning the organisation of the session.

NAF Denies Alleged Plot to Kill Two Personnel, Navy Probes Maltreatment of Rating Kingsley Nwezeh in Abuja The Nigerian Air Force (NAF) has refuted the alleged illegal detention of two of its personnel and the plot to kill them over the mismanagement of funds that was credited to a Non-Governmental Organisation (NGO) under the aegis of the Movement for Social Justice and Care (MSJC) and published by some online news portals.

The NAF said yesterday that it had become necessary to ensure that the discerning public was not left with a distorted impression of situation.

The Director of Public Relations and Information, Air Commodore Ibikunle Daramola, in a statement, noted that the matter was before a court martial.

The statement reads in part: “The attention of the Nigerian Air Force (NAF) has been drawn to some spurious, baseless and unsubstantiated allegations being made in some online news media as well as by an organisation known as Movement for Social Justice and Care (MSJC) claiming that there was a plot to murder two NAF personnel currently standing trial before a Special Court Martial (SCM) in Makurdi for misappropriation of funds and that the NAF authorities have continued to detain the airmen illegally under the guise of the SCM,” it said.

The NAF affirmed that “the insinuation that the two personnel, Master Warrant Officer Micheal Oyebanji and Warrant Officer Paul Atteh, ‘were detained after they set up a multipurpose cooperative

society to service soldiers and interested civilians outside of the Nigeria Air Force to the disdain of their superior’, is not true.

“The cooperative society in question was not set up by the duo alone but was initially set up by 35 Base Services Group (BSG), now 151 BSG, in 2014 where the duo and two commissioned officers were among the executive members,” the statement said.

It further noted that “MWO Oyebanji was the Vice President while WO Paul Atteh was the Treasurer. In 2017, the cooperative started experiencing a downward trend due to alleged mismanagement of funds as it could not meet its financial obligations to its members who are largely serving NAF personnel.

“In 2019, a Board of Inquiry (BOI) was convened to investigate the alleged fraud, which subsequently led to the constitution of the SCM. The insinuation that they were cleared by an investigation is also not true as an SCM would not have been convened if prima facie case of misappropriation had not been established”.

The NAF spokesperson further explained that the SCM, which was reconstituted on January 7, 2020, to try the case had continued with its sittings until April 3, 2020, when it suspended its proceedings due to the national lockdown occasioned by the spread of COVID-19 pandemic disease.

The SCM resumed sitting on July 13, 2020.

LET THERE BE LIGHT...

Chief of Party, USAID Power Africa-Nigeria Power Sector Programme (PA-NPSP), Mr. Tunde Gbajumo (left), and Lagos State Commissioner for Energy and Mineral Resources, Mr. Olelere Odusote during the signing of a letter of Cooperation between Lagos State Government and (USAID) Power Africa-Nigeria Power Sector Program (PA-NPSP) to develop electrification plan for Lagos, in Alausa...yesterday

House Probes Resignation of 365 Soldiers Adedayo Akinwale in Abuja The House of Representatives has resolved to investigate the alleged mass exodus of soldiers from the Nigerian Army, particularly the resignation of 365 soldiers, warning that it will worsen the security crises across the country.

At the plenary yesterday the House unanimously adopted a motion moved by the Chief Whip, Hon. Mohammed Monguno, and co-sponsored by Deputy Whip, Hon. Nkeiruka Onyejeocha; Minority Leader,

Hon. Ndudi Elumelu; and Deputy Minority Leader, Hon. Toby Okechukwu.

It was titled, ‘Need to Investigate the Purported Voluntary Resignation of Over 365 Soldiers from the Nigerian Army’.

The figure is actually 356, according to a memo from the aggrieved soldiers to the Chief of Army Staff, Lt.-Gen. Tukur Buratai, dated July 3, 2020, with Reference Number NA/COAS/001, quoting the Harmonised Terms and Conditions of Service for Soldiers/

Ratings/Airmen (Revised) 2017.

It was reported that the approval of the voluntary disengagement of the 356 soldiers was contained in a 17-page circular from Buratai, AHQ DOAA/G1/300/92, signed

by Brig-Gen T.E. Gagariga, for the army chief.

Also, the document was copied to Headquarters, Theatre Command, Operation Lafiya Dole, Borno State, the Headquarters of 1, 2, 3, 4, 6, 7, 8, 81, and 82 Divisions of the Nigerian Army and other formations.

Adopting the motion, the House mandated its Committee on Army to “investigate these allegations and report back in one week”.

Moving the motion, Monguno noted that the Nigeria Army, which was founded in 1960, is the largest component of the Nigerian Armed Forces with a staff strength of about 200,000 soldiers, with the responsibilities of taking charge of land warfare operations as well as protest and defend the territorial integrity of the nation.

N’Assembly Faults Discrepancies in 2019 Budget of NDDC Queries missing N143bn Deji ElumoyeinAbuja The National Assembly yesterday faulted the 2019 budget review of the Niger Delta Development Commission (NDDC).

The National Assembly’s Joint Committee on Niger Delta Affairs has therefore asked the Interim Management Committee of the Commission for detailed explanation over the alleged N143billion missing from the 2019 budget of

the commission.

The committee gave the directive during the budget defence session the National Assembly Joint Committee on Niger Delta Affairs, had with NDDC IMC led by the Acting Managing Director, Professor Daniel Pondei.

Pondei had in his presentation before the committee led by Senator Peter Nwaoboshi, submitted that the Commission received N305.5billion as revenue

in the 2019 fiscal year and spent N122billion from the amount received with the balance of N183.2billion.

He said: “In compliance with the provision of the 2019 Appropriation Act, we implemented the 2019 capital budget till May 31.

On the expenditure side, 2019 budget implementation was hindered by the delay in its approval and release coupled with

the COVID- 19 global pandemic.

Only recurrent expenditure which runs from January 1to December 31, 2019 was implemented substantially”.

However, Chairman of House of Representatives Committee on NDDC, Hon. Olubunmi TunjiOjo however faulted the 2019 budget report of the commission as he disclosed that the report submitted to the joint Committee only revealed N40 billion.

ECOWAS Appoints Jonathan as Special Envoy for Mali Former President Goodluck Jonathan has been appointed by the Economic Community of West African States (ECOWAS) as a special envoy to lead the sub-regional body’s mediation mission in Mali.

As a Special Envoy, Jonathan is to facilitate dialogue with all principal stakeholders in Mali, including President Ibrahim Boubacar Keita, opposition leaders, civil society as well as religious organisations, towards resolving the worsening sociopolitical situation in the West African country.

Speaking ahead of his

scheduled departure for Bamako today, Jonathan promised to do his best to ensure that the mission achieved the desired result.

He also thanked President Muhammadu Buhari for the support of the Nigerian government, including providing an aircraft and other logistics needed to make the assignment successful.

Jonathan, who had led peace missions to many crises-ridden nations in the past, is expected to deploy his enormous goodwill within the continent to facilitate the process of restoring peace in

the troubled nation.

The West African nation has been hit by protests, sparked by the outcome of parliamentary elections in March and April, perceived discontent over the government’s handling of Mali’s jihadist insurgency and worsening economic situation.

The former President’s appointment was communicated to him in a letter signed by President of the ECOWAS Commission, Mr. Jean-Claude Kassi Brou.

It said: “Given your position as the former President of the Federal Republic of Nigeria and

the great role and contributions your tenure offered to the maintenance of peace, security and stability in our region, I have the honour, in consultation with the Chair of the Authority, Issoufou Mahamadou, President of the Republic of Niger, to communicate to you, the decision to appoint you as ECOWAS Special Envoy for the sociopolitical crisis in Mali.”

Jonathan is to engage in consultations with all relevant stakeholders involved in the ongoing dispute in Mali to ensure that a common ground is found in the search for peace.

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WEDNESDAY, ÍšÍ˝Ëœ ͺ͸ͺ͸ Ëž THISDAY

BACK PAGE CONTINUATION ANOTHER CHANCE FOR DEVELOPMENT PLAN as a mere technical exercise.

They should consider a political economy approach.

A certain degree of political discipline is required to give effect to any economic package no matter how technically sound it might seem to the designers. Hence, there is the need to scientifically study Nigeria’s economic history beyond feeding the public with technical jargons.

Take a sample of the recent economic history. In the mid 1990s some of the Nigeria’s best and brightest from multidisciplinary backgrounds assembled in Abuja for months to prepare the Vision 2010. As the work progressed, the experts exude enormous optimism. Cheery news came out of the group work. When the report was ready, there was eureka among the believers of the vision, who must have thought that a formula had at last been found for Nigeria’s development.

The patriotic promoters of Vision 2010 didn’t seem to reckon with the reality of the political economy at the time: General Sanni Abacha was in power with his own agenda of what to with Nigeria. The experts were busy with their econometrics, forgetting Abacha’s calculus for power for his own purpose.

The dream embodied in Vision 2010 died, but the destructive impact of Abacha on the political economy is still being felt 22 years after his death.

So, both the economic and political environments ought to have been considered in a realistic visioning process.

The socio-political environment of the Abacha years was not a promising one for such a vision as it was obvious that the necessary elite consensus could not be easily garnered in liberal terms. As some elements of the elite were visioning in Abuja, some others were in incarceration, pushed into exile or forced to remain invisible within the system.

Hence, only the element of political economy could explain the cold attitude of the succeeding administration of President Olusegun Obasanjo to Vision 2010. The tenure of General Abdulsalami Abubakar was so short that visioning or making any strategic plan would be a luxury. He was actually in office for less than a year. It would, of course, amount to a political abomination for

any policy adviser to recommend to Obasanjo a Vision 2010 developed under Abacha’s watch.

It is also the lack of the political economy approach that makes technical experts design economic policies which ministers in the governments ignore while political parties do not articulate the programmes in the policy. Governments at all tiers should find a basis to engage with a national development plan. There must, at least, be a political basis on which to build a consensus. It is not for nothing that Adam Smith wrote about “political economy� and not just technical economics devoid of a moral ecology.

In fact, as one economist puts it: “Policy proposes. Politics disposes.�

For instance, in a viable development plan there must be a consensus on the basic needs of the people as a priority.

In virtually all states the majority of residents lack potable water and open defaecation is still a serious issue of development. Yet, the state governments embark on what the late politician, Ojo Madueke, would call “monumentalism.�

Governors embark on multi-billion naira projects as monuments to their tenures.

The basic needs of the people – physical security, universal healthcare, quality education, social housing, affordable transportation, food security etc. are neglected. Instead, the limited resources are devoted to awarding contracts which both the contractors and the clients know would be abandoned. Such projects begun by federal and state governments are visible on the socio-economic landscape as lessons on how not to govern.

In a viable development plan, there must be a consensus on the basic needs of the people as priority

Meanwhile, while embarking on these squandering of limited resources the governments claim they are on mission to “develop� the states and indeed the whole country.. These projects are advertised on anniversary dates as evidence of spectacular transformation. The governments receive the applause. But the condition of the people continues to deteriorate. This is because the public itself is hardly bothered about the qualitative impact of the many projects celebrated in the last few decades on the people.

Some patriots have suggested that putting together a development plan must be informed by some economic thoughts.

The ideas behind the projects should be clearly defined and publicly discussed.

There were definite thoughts behind the national economic plans in the past. The current economic managers may have one or two things to learn from this past, warts and all. They may also check what could be learnt from the way other nations developed and developing – are plotting their ways out of the current crisis and planning to erect a strong foundation for their future.

In many respects, , the resultant economic crisis from the outbreak of coronavirus is compelling nations to seek economic thoughts on how to redesign their societies in adapting to the changes brought about by the pandemic. In other words, they are going beyond putting out the fire of coronavirus. The thoughts needed for economic management in Nigeria today are more than what business school economics can offer. The dynamics of the social space are not coterminous with those of the market. That is one lesson of the present crisis that should not be lost.

For example, some governments of different ideological temperaments in the West are not just preparing stimulus packages. They are also seeking serious economic ideas in building their thoughts on economic transformation post-COVID-19.

Hence, inspiration is now being sought from the history of Franklin Delano Roosevelt, the 32nd American president who led his country through a greater part of the Great Depression. The development ideas he embraced successfully crystalised

WHY NGOZI IWEALA’S WTO NOMINATION MATTERS Nigeria’s Minister of Finance, where she struggled with budget sizes below what the country’s potential demands and served two Presidents, who but apart from being of same Party, are opposites. She however was quite remarkable in serving both and providing the needed leadership for Nigeria’s economic policy. She sits on the board of the Gloval Alliance of Vaccines in Africa, which of recent was exposed to the fragility of the global trading system in securing and supporting countries which supplies support to COVID-19 response. Her experience in these fields equips her with the creative and modern perspectives that are required in navigating the uncertainties that will come in the post Covid-19 world.

I am privileged to have interacted with Dr. Okonjo-Iweala during her 2011 Senate confirmation hearings as Minister of Finance as well as the in a 2013 negotiation between the Academic Staff Union of Universities (ASUU) and the Federal Government over the implementation of an agreement which led to closure of Universities for a long time. In both she was at her best. Not the least because she proudly wears Nigerian fabrics with a very unique fashionable sense that has been generating followers, as well drink West African Nescafe which she argues is as good as any out there.

Her negotiation skills are amazing. At one point during the negotiations with ASUU she was exasperated by insinuation from ASUU that she was not sympathetic to their views. The next day she turned up, very early in the morning, with one of their most remarkable members, Prof Okonjo, her dear father, of blessed memory.

He assured the meeting and his obviously very surprised younger colleagues that not only is she sympathetic but that she is ASUU by blood and achievement, having spent most of her young life in the campus home of two dear Professors, mother and father!

At the WTO, which I pray she would lead, she will be able to bring the world of knowledge, creativity and value addition to the least developed world while at the same time mobilizing millions in poverty into the world trade system with over 100 million of them from Africa. She has the credentials to assure the more prosperous nations that they could be better off an institution that she leads while at the same time given confidence to the developing countries that their moment had arrived.

That’s what is needed in the world: a win win situation.

I don’t know what the interview process entail but certainly the abilities of an Amazon who can bring over 400 million Africans, seeking to escape poverty and eager to equitably participate in the world trade system may not be matched by others.

Africa matters, not least because it remains the least developed continent but have a young and growing population that is willing to join the world. Equally African countries and indeed many other developing Countries have been responsible trading partners that give opportunity to others.

They also seek more opportunities from others, and occasionally the two worlds may seem to differ in their views but Dr. Okonjo-Iweala is able to make the case for both. She is capable of energizing the World Trade Organisation and give confidence to all countries of the world that we shall be more prosperous together.

That in my humble view is why her nomination should matters to all of us and I urge that we should all promote it.

Thank you President Buhari for yet again demonstrating that you are always keen to promote the best, for the interest of all.

Ngozi is indeed one of them. r4FO "CVCBLBS "UJLV #BHVEV (PWFSOPS ,FCCJ 4UBUF BOE $IBJSNBO 1SPHSFTTJWF Okonjo-Iweala (PWFSOPST 'PSVN

in the New Deal. Workable economic thoughts are being sought from the Roosevelt example because coronavirus has exposed the sordid parts of the present socio-economic system.

It is in this context that the current crisis provides a great opportunity to redesign Nigeria on the basis of socio-economic justice, equity and freedom from hunger, disease and ignorance.

The starting point should be putting together a truly national economic plan.

Such a plan would be preceded by fundamental discussions in which every state, regardless of which party is control, would be involved. Inputs should even come from the local governments.

The various factions of the Nigerian elite in power should agree on what Edwin Madunagu would call an “irreducible minimum� in any consideration of development. The forum of the National Economic Council should be very instrumental in making the process highly inclusive.

For instance, one lesson of the crisis is that healthcare, education and social security are basic elements of development.

So, in planning for a productive society aiming at sustainable development these and other sectors should form the priority in development planning. For whichever party that may be in power at the centre or any state in the next few years, universal healthcare is a developmental goal that should be honestly and vigorously pursued. That would mean greater investments in the sector.

The virus has also exposed the degree of inequality in the system. The days of the lockdown showed the vulnerability of the poorest segment of the society. As some would say, the terrible choice was that of “hunger virus� or coronavirus.

Social security should, therefore, be an element of a humane development plan.

It is also an opportunity for education to be better framed for the purpose of development. With a young population, the development experts should consider the redesigning of the collapsed public education as an important aspect of planning for the future.

All told, investing in human development is actually planning for a truly productive economy and society.

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WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

Napoli, Lille Finally Agree on Osimhen’s Transfer to Italy Duro Ikhazuagbe with agency report

French Ligue 1 outfit Lille and Italian Napoli appears to have finally settled on a

Victor Osimhen...may be unveiled at Napoli on Thursday

transfer fee believed to be in the region of 50 million Euros plus a player, Adam Ounas, before Nigerian international, Victor Osimhen, will make a switch to the Serie A club.

The total amount Napoli is expected to pay Lille to conclude the deal was put at 81 million Euros.

French top media, L’Equipe reported yesterday that both teams are believed to have finalised on this on Monday when they met.

The worth of the muchdiscussed transfer has varied from 50 million Euros to as much as 85 million Euros depending on various sources.

The 2015 FIFA Under-17

Barcelona Unveil New Jersey for 2020/21 La Liga Season - with Stanley instead of

FC Barcelona on Tuesday officially presents the new jersey for the 2020/21 season, whose design is inspired by the 1920s, considered the Club’s first Golden Era. The red and blue strip - a retro Barcelona look - went on sale yesterday after the club revealed the design online with plenty of pictures of the club’s stars.

According to price tag released on the jersey, it will set their fans back a cool ÂŁ136 for the shirt, while the shorts come in at ÂŁ64 alone that is ÂŁ200 for the complete outfit.

There are slightly cheaper options on the Barcelona website, with the junior version of the shirt costing £114 and the women’s shirt

Rakuten as the sponsor listed at ÂŁ127.

The likes of Lionel Messi, Antoine Griezmann and Nigerian Super Falcons and Barcelona Femeni Star, Asisat Oshoala posed in the shirt for pictures as fans went wild over the design.

One commented, ‘Beautiful, amazing!’ while another took the chance to critique Barca’s performances on the pitch while also complimenting the design: ‘Yeah we love the kit but bring back Barca’s EXQUISITE style of playing the game!’ Indeed, Barcelona are likely to be lining up in their new kit next season having lost the LaLiga title to Real Madrid in the 201920 season.

MTN Unveiled as Headline Sponsor of Freestyle Unlocked Africa 2020 Feet ‘N’ Tricks International, the organisers of the Freestyle Unlocked Africa 2020 has announced MTN as the headline sponsor for the fourth edition of the annual games that kicked off penultimate Wednesday.

The Chairman of Feet ‘N’ Tricks International, Valentine Ozigbo, in a press statement yesterday said that the telecommunications giant will be the headline sponsor of the freestyle football championship whose finale will be held on July 19, 2020. “We are excited to welcome our returning sponsor, MTN, in this year’s championship which we are hosting in unusual and difficult times for many around the world,� said Mr. Ozigbo, who is also the immediate past President and Group CEO of Transcorp.

Commenting on the sponsorship, the Chief Marketing Officer, MTN Nigeria Rahul De said “as a youth focused company, Freestyle Football’s brand essence reflects what the MTN brand stands for,

excellence and excitement wrapped into one solid platform. “Freestyle Unlocked Africa 2020 is a worthy platform for MTN to touch the lives of the future freestyle football stars on the continent of Africa. The sport embodies the beauty, diversity and fluidity of the African people and we are proud to partner Feet ‘N’ Tricks International on this adventure,� De added.

This is the second time that MTN will be involved in the sponsorship of the sporting event.

The first was in 2018.

Other sponsors of the championship are Valentine Chineto Ozigbo Foundation, APO Group and Eko Disco.

Freestyle Unlocked Africa 2020 is the virtual version of the African Freestyle Championships organised by the sports promoter. The competition began in 2017 as the Nigerian Freestyle Football Championship. The following year, it became a continental sports event with over 18 countries participating in the finals in Lagos, Nigeria.

World Cup winner in Chile along with his management team were in Naples last week to meet Napoli chiefs and manager, Gennaro Gattuso.

But shortly after the visit, speculations were rife in Italian and British tabloids that Osimhen was not interested in Napoli but transfer to a big English club like Arsenal of Manchester United.

The meeting between Lille and Napoli officials has sort of put paid to all the speculations, with Gattuso in particular reported to be willing to take pay cut to attract Osimhen to Naples.

Osimhen, according to scorenigeria.com.ng, will enjoy much-improved personal terms put at around four million Euros a year.

He has been Gattuso’s No 1 choice to replace Poland star Milik, who is set to quit Napoli in this transfer window.

Gattuso only took over the Naples team in December 2019 from Carlo Ancelotti.

On Monday, Napoli President, Aurelio de Laurentiis, assured Gattuso

will keep his post for next season even though the club will not qualify

for UEFA Champions League from Serie A this season.

A formal announcement of the transfer is now due on Thursday.

Messi...unveiled new Barcelona jersey yesterday

Joshua May Fight Pulev on a Boat with 1,000 Fans Anthony Joshua is set to deck Kubrat Pulev below deck after his promoter, Eddie Hearn, revealed the heavyweight bout could take place on a boat.

The Matchroom boss also listed a castle as another alternative venue - with just 1,000 people in attendance.

The UK’s Evening Standardreport yesterday that Hearn said he is coming up with “quirky ideas� about where to stage the heavyweight king’s big return.

AJ was set to defend his WBA, WBO and IBF belts against Pulev at Tottenham stadium last month but the coronavirus pandemic KO’d that.

Now, Hearn, who is staging Fight Camp in the garden of his Essex mansion, is thinking outside the box for Joshua’s fight, scheduled for November.

He said: “Other ideas we have are 1,000 people somewhere strange and quirky. I’ve got a few things up my sleeve. We’re talking about

castles, plush hotels, maybe even on a boat. “Croatia have offered a coliseum — and that’s beautiful —and we’re still open to options and flexible. “These are all things thinking outside of the box — it just depends what’s allowed.�

London’s O2 Arena remains the most likely venue, but Hearn added that much depends on whether social distancing restrictions are lifted.

He added: “By November, can we go to 16,000 people at the O2? Right now, we’re handcuffed by the regulations.�

As far fetched as it sounds, fighting on a boat has nearly happened before.

Joshua’s heavyweight rival Tyson Fury - who has agreed to a two-fight deal with AJclaimed he was offered around £82million to fight Wladimir Klitschko on board a luxury superyacht in 2016.

NFF Mourns as Ukaigwe, Foremost Women Football Journalist, Dies Nigerian football was again thrown into a state of mourning on Tuesday after news broke of the death of leading women football promoter and administrator, Henrietta Ukaigwe.

Ukaigwe, a Member of the Board of the Nigeria Women Football League (NWPL), has for several decades been at the vanguard of promoting the game of women’s football in Nigeria and even beyond these shores.

She played a key role in the wide traction gained by the game from the 1990s as Nigeria’s Super Falcons relentlessly dominated the African game and became a permanent fixture in the FIFA Women’s World Cup. The Imo State-born journalist was at the head of a corp of women’s football-passionate reporters and stakeholders who birthed the Female Football Interest Group (FFIG), comprising a number of individuals who actively promoted and energetically projected the women’s game and made it an item of consequence in the media and public space across the nation

from the nineties.

This group did not only report the game; it coalesced efforts and resources to organize women’s football tournaments and provided much-needed stout and meaningful support to administrators at that incipient stage.

They also worked assiduously with the precursor-proprietors, including Alhaja Simbiat Abiola, Alhaja Ayo Omidiran, Elder Eddington Kuejubola, Princess Bola Jegede, Chief Christopher Abisuga, Mr. Larry Eze, Alhaja Rashidat Oladimeji and Chief Gina Yeseibo to stoke serious interest and mainstream support for the game even before a league was launched.

Their efforts reaped bounteous rewards, as Nigeria and other African countries raised women’s national teams at senior, intermediate and junior levels to compete in competitions that FIFA launched with only moderate expectations.

Today, Nigeria’s domestic women’s football has 20 clubs in the premier division, with 12 in the pro division and dozens in the amateur cadre, counting both registered and

unregistered teams.

Nationally, the Super Falcons, Falconets and Flamingos are fixtures at their different FIFA tournaments, and the FIFA Women’s World Cup, FIFA U20 Women’s World Cup and the FIFA U17 Women’s Cup have carved their own niche and continue to thrive.

Ukaigwe worked at the Vanguard Newspapers, MINAJ Broadcasting Service, Super Screen television and a couple of other media houses before serving as Co-ordinator of the Senior Women National Team, Super Falcons. A couple of years ago, she was appointed into the Board of the Nigeria Women Football League headed by another ace promoter of the women’s game, Aisha Falode.

Speaking on the death of Ukaigwe, NFF’s General Secretary, Dr. Mohammed Sanusi, said in Abuja yesterday: “The death of Henrietta Ukaigwe is a devastating blow to the game of women’s football in Nigeria. “We are still in rude shock at her premature departure, but we collectively take solace in the fact that she left her formidable footprints in the sands of time.

We pray that God will give her eternal rest and also grant those she has left behind the fortitude to bear the big loss,� the NFF’s scribe concluded.

Chairperson of the NWPL, Aisha Falode, said: “Words alone cannot describe the loss of Henrietta Ukaigwe. She was a warrior for the cause of Nigeria women football development, a crusader who wanted to see women football on top all the time. Rest in peace Henrietta, until we meet to part no more.�

Also yesterday, a former Chairman of the Shooting Stars Sports Club (3SC), Elder Bode Oyewole was also reported to have died after a brief illness.

Late Henrietta Ukaigwe

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WEDNESDAYSPORTS

Man City Deserve Apology from UEFA, Says Guardiola Manchester City manager Pep Guardiola has said that his team deserve an apology after the club successfully overturned their ban from European club competitions.

On Monday, the Court of Arbitration for Sport (CAS) cleared City of committing “serious breaches� of Financial Fair Play regulations between 2012 and 2016.

On Tuesday Tottenham boss Jose Mourinho called

it a “disgraceful decision�. “What we have done is right. Jose and all the managers should know that we were damaged,� said Guardiola. “We should be apologised (to). “(I’m) incredibly happy for the decision, which shows what all the people said about the club was not true and to defend on the pitch what we won on the pitch..

Klopp Celebrates Wycombe’s Promotion with Akinfenwa Nigerian-born Michael Akinfenwa is still in cloud nine after Liverpool Manager, Jurgen Klopp messaged him on WhatsApp in celebration of his Wycombe Wanderers’ promotion to the English Championship after beating Oxford United at the Wembley on Monday.

After the Chairboys triumphed 2-1 on Mondayto reach the second tier for the first time, veteran striker Akinfenwa gave an on-pitch interview to Sky, in which the 38-year-old referenced a similar post-match interview from four years earlier.

On that day in 2016 - after scoring a penalty for AFC Wimbledon against Plymouth Argyle in the League Two play-off final - he famously said: “I think I’m technically unemployed, so any managers hit me up on the WhatsApp and get me a job.�

So after Monday night’s result, Akinfenwa, a long-time Liverpool fan, joked: “Let me tell you something, the only person that can hit me up on WhatsApp this time is Klopp, so we can celebrate together.

You get me? Oi!�

And so that’s just what Klopp did.

Speaking to reporters on Tuesday ahead of the visit to Arsenal, Klopp stated about Akinfenwa: “He is invited for the parade! I saw before the video when he was sitting in the team meeting in an LFC kit, I thought that was really funny.

He responded to the video, it was nice, he was really happy.�

Akinfenwa’s story will move you as four years ago he was

unemployed after he was released

by AFC Wimbledon.

Klopp added : “I just enjoy these kinds of stories (like Akinfenwa) and football meant everything to me before someone thought you can earn some money from it. “You can fulfill your own dreams. For some teams it’s early but others can do it if they work hard,� Klopp concluded.

Messages of congratulation followed from other Liverpool players, including Virgil van Dijk and Jordan Henderson himself.

The much-travelled Akinfenwa - as well as AFC Wimbledon, his former clubs include, but are by no means limited to, Torquay, Swansea, Northampton, Gillingham, Doncaster and Millwall - is celebrated almost as much for his physical stature as his goal-scoring prowess.

He goes by the nickname ‘The Beast’ and has written an autobiography called ‘The Beast: My Story’.

But The Beast has a soft spot for newly crowned Premier League champions Liverpool.

When the Reds sealed their first league title for 30 years last month, he happily took a club fine for turning up to training at Wycombe wearing an LFC shirt.

And apparently he even waived a rebate on the fine due to him after Monday’s heroics, having subsequently revealed: “The gaffer told me he would halve my fine if we got promoted, but I’d be so happy if we went up, I’ll still gladly pay the full amount. It would be money well spent.�

UFC: Minister Congratulates Usman on Successful Defence of Title Encomiums have continued to trail the exploits of Nigerian-born martial art champion Kamaru Usman for retaining his Ultimate Fighting Championship UFC welterweight belt against American Jorge Masvidal over the weekend.

According to a statement by the Media Office of Youth and Sports Development Minister, Mr Sunday Dare, Usman’s win is not only inspiring, but a confirmation of the never-say-die Nigerian spirit . “ A big congratulations to Usman for making Nigeria proud by retaining his Ultimate fighting Championship welterweight title against Jorge Masvidal. “His tenacity, courage and consistency is typical of the Nigerian spirit of never giving up. He is not ony a worthy champion, but a great Nigerian in whom we are all proud. Once again he has shown that he is not just a patriot, but an embodiment of a great athlete

who has projected the image of our dear country before the whole world positively. You are indeed a great Ambassador of Nigeria,� the statement concluded.

Usman retained his title via unanimous decision in Abu Dhabi early hours of Sunday.

The fight was almost called off due to disagreement over pay.

Masvidal was named as a last minute replacement to his earlier challenger Gilbert Burns who pulled out after he tested positive for Covid-19.

The feat was Usman’s 11th successful win in three title defence in the United Arab Emirate.

Usman earned $600,000 appearance fee and $40,000 as incentives, while his challenger got $500,000.

The “Nigerian Nighmare� has won 16 of his last 17 fights, losing only to Jose Caseres in 2013.

“Like I said many times, if we did something wrong we would accept the decision of UEFA and CAS because we did something wrong. We can defend ourselves. We have the right to defend ourselves when we believe what we have done is correct.�

UEFA had issued Man City with a two-year ban in February.

But CAS cleared City of “disguising equity funds as sponsorship contributionsâ€? and cut the club’s fine from 30m euros (ÂŁ26.9m) to 10m euros (ÂŁ9m).

In this year’s Champions League, City face Real Madrid in their last-16 second leg at Etihad Stadium on 7 August.

They lead 2-1 from the first

leg and will face Juventus or Lyon if they progress.

When asked about his future with last season’s Premier League champions, Guardiola said he was “happy� but added “now is not the time� to discuss a new contract. His current deal runs until the end of the 2020-21 season. “We have made a step forward in 10 years. We invested a lot of money, like a lot of clubs. We did it the right way. We have not been banned because we followed the FFP rules. If we hadn’t we would have been banned,�

Guardiola added. “We showed it was not true.

That’s why people have to be happy or should at least accept it.

“I would love to say, ‘look in our eyes and say something face to face and go out onto the pitch and play as rivals and after if you beat us, we will shake hands and congratulate you’.�

The decision to allow City to play in Europe next season means it is normal service in terms of qualification for the Champions League and Europa League from the English top flight.

The top four sides will qualify for the Champions League, while fifth and sixth place will progress into the Europa League.

Had the ban remained in place, with City now guaranteed a top-four domestic finish, the team finishing fifth

would have qualified for the Champions League and the seventh-placed team would have got a Europa League spot.

Pep Guardiola...demands apology for City

Michael Akinfenwa celebrating the promotion of Wycombe to the English Championship on Monday

Tiger Woods Eyes 83rd PGA Tour Win in Ohio Tiger Woods has said that there is “no reason� why he cannot make PGA Tour history this week with a win at his first competitive event since February.

The 44-year-old goes into the Memorial Tournament in Dublin, Ohio chasing an 83rd PGA Tour win that would eclipse Sam Snead’s mark of 82, set in 1965. “I would like to say that I’m going to win the event,� said Woods, who has won the tournament a record five times. “That’s my intent coming in, that’s my intent going into every event.�

Woods, who tied Snead’s record by winning the Zozo Championship in Japan last October, added: “Whether

that plays out come Sunday, hopefully that will be the case. “There’s no reason why I can’t do it again this week.�

Masters champion Woods missed tournaments prior to golf’s coronavirus shutdown in order to deal with back issues.

At his last Tour event in February - the Genesis Invitational - he finished last among the players to make the cut.

The 15-time major winner played in a charity event during the official coronavirus shutdown but has since chosen not to compete in behind-closed-doors PGA Tour events. “I just felt it was better to stay at home and be safe,� said the American. “I’m used to playing

with lots of people around me and that puts not only myself in danger but my friends and family. “That’s something that I looked at and said, ‘I’m really not quite comfortable with that whole idea, let’s see how it plays out first’.�

When Woods does compete at Muirfield Village Golf Club from Thursday he will do so without the usual mass of cameras and spectators that follow his every move at events.

He admits he has been intrigued by events without fans and took to watching in order to process what golf may feel like in the near future. “To have no one yelling, no one screaming, no energy, the

social distancing, no handshakes, there’s nothing to feed off of energy-wise,� said Woods. “It’s just a silent and different world.�

Tiger Woods...eyeing record win in Ohio

Showmax Launches Live Streaming Service for Premier League, La Liga, Others Showmax, an Internet TV, has launched a new service, Showmax Pro, which bundles the existing Showmax entertainment service with music channels, news, and live sport streaming from SuperSport.

Showmax Pro was launched in Nigeria on July 7 and features games from the Premier League, La Liga, Serie A, Premier Soccer League (PSL), as well as a wide range of live sport events including IAAF Athletics meet, professional boxing, and the world’s biggest marathons.

In June 2019, Showmax began testing sport live-streaming, and the new Showmax Pro service is

based on the results of the tests.

Speaking about Showmax’s history, Niclas Ekdahl, Chief Executive Officer of the Connected Video division of MultiChoice, said: “Showmax is an African video-on-demand service with many years’ experience operating on this continent. We’re local-first, which means listening to our customers and delivering African stories told in familiar voices as well as the best that Hollywood has to offer. “Our local-first strategy is an advantage because it allows us to tailor our content, apps, packages, and partnerships specifically to what’s most important in Africa.�

On the newly added sport streaming service, Ekdahl said: “The live sport test we ran on Showmax in conjunction with SuperSport has been well received, so that’s forming an integral part of our new Showmax Pro service.�

Showmax in November 2019 also launched a mobile-only service for smartphones and tablets featuring all the Showmax content, but at half the cost of the standard Showmax service and consuming less data. Ekdahl explained that this was developed to address the service for the data connectivity constraints on the continent by focusing on the

most-used viewing devices. “What else have we learned about operating an internet video service in Africa? Mobile usage is mainstream, so having a one-size-fits-all big screen service may not be the best solution here. “With the mobile-only version of Showmax Pro, anyone with a smartphone in sub-Saharan Africa will be able to get the best African content, the best of Hollywood, and all the best sporting action. This is something no other service is doing and we think it’s a game changer,� Ekdahl said.

Wednesday July 15, 2020

TR

UT H

& RE A SO

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Price: N250

MISSILE

Nunieh to Akpabio “I am the only Ogoni woman, Nigerian woman that has slapped his face. I slapped him because of his plan B. He thought that since he couldn’t get me to take that money, he thought that his plan B could come up on me. He didn’t know that I am a Port Harcourt girl.” – Former interim Managing Director of the Niger Delta Development Commission, Ms. Joy Nunieh, revealing how she slapped the Minister of Niger Delta Affairs, Senator Godswill Akpabio.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Another Chance for Development Plan

I

t should be noteworthy to development enthusiasts that the federal government is reportedly paying some attention to planning for economic development.

At least, the optimists ought to show more than passing interests when there is the talk of Nigeria Agenda 2050 in Abuja amidst the socio-economic havoc being wreaked by coronavirus in Nigeria as in other countries.

Doubtless, it takes almost an incurable optimist about the future to take official proclamations about economic development planning seriously anymore.

This is because of the levity with which long-time planning has been treated by successive governments in the last four decades.

The orthodox economic philosophy has been decidedly anti-planning. This is despite the plethora of slogans and acronyms that have been peddled in the last few decades. These include SAP, Vision 2010, , NEEDS, Seven-Point Agenda, Transformation Agenda and Vision 20:2020.

The net result of the implementation or non-implementation of these economic packages has been the decline of Nigeria in virtually all indices of development.

Buhari

In any case, there is hardly any autopsy done to determine why the random dreams contained in these economic agendas died with the administrations that put them in place.

In the Nigerian culture of economic management, every administration comes up with its own economic phrases to

stabilise the economy and possibly achieve growth. The trend has been more of firefighting than making strategic plans.

There is nothing on the horizon to suggest that the administration of President Muhammadu Buhari is taking a fundamentally different path to development both in style and substance.

This administration is also imbued with the same neo-liberal impulse dominating policies with the bitter consequences of worsening poverty and widening equality.

Nothing so far indicates that the government craves for a developmental leap.

Without giving a report of the diagnosis of the failure of Nigeria Vision 20:2020 and the Economic Recovery and Growth Plan (ERGP 2017-2020), the administration is already working on the Nigeria Agenda 2050.

A report is expected to be submitted on this agenda in a year’s time.

The report is expected to be a synthesis of the expert work being done currently by the technical working groups on different sectors such as security, defence, agriculture, rural development, environment, water resources, sanitation, culture, tourism hospitality, social development, regional development,

disaster management, creative industry etc.

Hence, the working groups are supposed to review existing policies and economic designs as they make projections.

Economic planning used to be an important aspect of governance in Nigeria.

Some roads, bridges, schools, hospitals, water schemes etc. were built on the basis of planning with a sense of integrated development. When the story of Nigeria’s underdevelopment is fully told, the factor of the abandonment of planning would have a conspicuous place in it. The ad hoc economic experiments that followed the jettisoning of national plans have not achieved the stated objectives.

As a matter of fact, most of the economic experiments could not actually be called “national” because the inspiration was always from exogenous forces. They were based on the Washington Consensus which ignored the enormous social costs of the adjustment inflicted on the poor people.

Yet, the larger context of economic management is very important in developing a new plan.

It is, therefore, suggested that those working on Nigeria Agenda 2050 should not perceive their very important task Continued on page 37

ABUBAKAR ATIKU BAGUDU GUEST COLUMNIST

Why Ngozi Iweala’s WTO Nomination Matters

T

hat the world trade system has not worked well and with mixed result, is perhaps, an understatement. The dream of a cooperative system that benefit all countries is stunted by practices that limit trade, capital and Labour mobility.

Countries, developed and developing agree on the need for such a system but in reality progress has been rather slow. This should not be so.

Attempts to create a trading arrangement that shall benefit all has been fraught with difficulties and the stronger nations tend to be most favored by current or even previous arrangement. The quest for advantageous trade led tragically to both slavery and colonialism, two horrible trade systems.

Numerous wars, including World Wars I & II were caused to a large extent by trade considerations. While the current World Trade Organisation arrangement is a significant improvement, it is yet to achieve equitable progress, particularly for the weaker members.

Is it impossible for the world to create a trading system that works for all?

Many think it is not, particularly for the obvious advantages it confers. But

the reality has been that we are yet to achieve one. Following the end of the Second World War, institutions that could foster global cooperation were created to among others, reduce conflict causing behavior among nations. One of such is the General Agreement on Trade and Tariffs (GATT) the forerunner to the current World Trade Organisation which came into being in 1995.

The main objective in creating the World Trade Organisation is to create a trading system that is equitable and with least distortions. Regretably, while being an improvement on the GATT, the WTO is yet to deliver in achieving the objectives. Worst still is that it is perceived as impotent. The exit of UK from EU and the brick bratt between the US and China is illustrative of the difficulties with bilateral trade agreements talk less a global one. The failure of the WTO to reach an agreement on agriculture, for example is punitive to all of Africa.

Furthermore, the literal freezing of world trade occasioned by the Coronavirus Pandemic serve as a stark warning that we need to have a better trade system.

Whoever imagined that one country can

‘’seize” medical supplies going to other countries?

Fixing the global trading system is one of the most important challenges of our time and doing so shall contribute to global prosperity more than any agreement. In so doing poverty shall be reduced and global prosperity shall be more equitably shared.

Reforming the World Trade Organisation is at the heart of any of such quest, and thus the choice of the next leader of the organisation matters.

African countries have been committed to the WTO and have been patiently hopeful.

The WTO Agreement was signed in 1995 at Marrakech in Morocco with many African countries being early signatories. Progress has been painstakingly slow with agreement of more equitable trade and agriculture on the table since 2001 it started in Doha, Qatar, known as Doha round.

In nominating our own Dr. Ngozi Okonjo-Iweala, President Buhari is not just presenting a Nigerian Candidate but is presenting to the world one of its best, albeit from Nigeria, and one who is eminently qualified to lead the task of fixing the world trading system. An economist, international development

expert and a global public servant, Dr. Okonjo-Iweala is one candidate that come with all the experiences and expertise required to reposition the WTO. Both President Buhari and Dr. Okonjo-Iweala deserve commendation for giving the world the opportunity towards correcting the distortions in the world trading system.

It will be recalled that last year, President Buhari signed the African Free Trade Agreement which holds a lot of promise for Nigeria. Getting it right at the World Trade Organization shall hasten the goals of Africa in the global arena. With Dr. Okonjo-Iweala who is cut out for the job given her background, her achievements, her world view, who promotes the belief that a trading system can work for the benefit all, and truly that’s what the world needs, all nations and peoples committed to the promotion of equitable trading system should support her emergence as the Director-General of WTO. As someone who practiced development economics at the World Bank, rising to the top and having served twice as Continued on page 37

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